Case - Analyzing Casino Money-Handling Processes - 1492 Words

Case: Analyzing Casino Money-Handling Processes Bartley D. Corbin Webster University Author Note This paper was prepared as partial fulfillment of the requirements for BUSN 6110, Term Fall 1, 2010 taught by Professor Gary Sample. Abstract This case study is from Chapter 6 of the text on page 183. It is an analysis of the casinos money-handling processes. The process begins with retrieving the money from the slot machines and is referred to in the gaming industry as the drop process. The hard count process is the second phase of the process and is performed at a designated time known to gaming regulatory authorities. Following the hard count process, each drop bucket is emptied into the weigh scale holding hopper. At that point the†¦show more content†¦We also know that twenty-five silver dollars are wrapped in each roll at a rate of 10 rolls per minute, and we know that each can contains 40 rolls. The canning process itself takes 5 minutes per can. The computer report and recording process in the weigh/wrap verification report takes 5 minutes, and the manual recount takes another 2 minutes per can. This is a bit hard to follow, so I have flowcharted the calculations for the hard count process. The ti me needed to Process 300 Silver Dollar Slot Machines = (Time to Calibrate Scale) + (Weigh and Record Each Bucket) + (Time to Wrap Each Roll) + (Time to Place Rolls into Cans) + (Run Summary) + (Manually Verify Can Counts) = 10 Minutes + 2100 Minutes + 900 Minutes + 1125 Minutes + 5 Minutes + 450 Minutes = 4590 Minutes = 76.5 Hours. See Figure 4 below. Figure [ 4 ]: Time Calculation for Hard Count Process Question 3 Question 3 gets to the pointed heart of our case study. As stated earlier, management wants to know how long each process takes so that they can make a purchasing decision. Although not used here, the text provides several methods of ranking investments. (Jacobs, Chase, amp; Aquilano, 2009) In figure five below we explore the possibilities of advantages gained by purchasing a second coin wrapper machine (indicated in blue). Below that is the potential time gained if the casino where to instead buy an additional weighing machine (indicated in green). Given this chart, it isShow MoreRelatedAnalyzing Casino-Money Handling Process1247 Words   |  5 PagesThe Buffalo News Team | Analyzing Casino Money-Handling Processes | MGO630: Mini-case #2 | Ashley BeckerZachary BradoColin CaseySamantha ChmuraArvind Thinagarajan 2/2/2012 | 1. The Drop process Drop team leader, security and accounting people deliver the buckets to hard count room [30 min/cart] Security officer and slot drop team leader obtain slot cabinet keys from casino cashier’s cage [15 min] Slot drop leader removes the drop bucket from slot machine cabinet [10 min/slotRead Moreeconomic15014 Words   |  61 PagesChapter 9 Functional Area and Compliance Systems Quick Look Case 1, Opening Case: International Speedway Gets Lean 9.1 Management Levels and Functional Systems 9.2 Manufacturing, Production, and Transportation Systems 9.3 Sales and Marketing Systems 9.4 Accounting, Finance, and Compliance Systems 9.5 Human Resources Systems, Compliance, and Ethics Key Terms Chapter 9 Link Library Evaluate and Expand Your Learning †¢ IT and Data Management Decisions †¢ Questions for DiscussionRead MoreCarnival Cruise Lines: Long and Short Term Strategies Essay8254 Words   |  34 PagesThe reason for this is the fact that it would prove to be very difficult if not impossible, for one to assemble an international code of ethics that would cover issues of importance in every single country involved. 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SmithRead MoreCase Study for Management Accounting36918 Words   |  148 PagesCASES FROM MANAGEMENT ACCOUNTING PRACTICES Table of Contents Case 1: Case 2: Bal Seal Engineering Robin Cooper Bill’s Custom Planters William Stammerjohan Deborah Seifert Dublin Shirt Company Peter Clarke in assoc. with in assoc. with Paul Juras Wayne Bremser ECN.W William Lawler Endesa Gary M. Cunningham Scott Ericksen Francisco J. Lopez Lubian Antonio Pareja Kincaid Manufacturing Jon Yarusso Ram Ramanan Osram.NA John Shank Lawrence Carr William Lawler Pleasant Run Children’s Home Brooke E. SmithRead MoreThe Dark Side of Customer Analytics6267 Words   |  26 Pageswww.hbrreprints.org HBR CASE STUDY AND COMMENTARY How can these companies leverage the customer data responsibly? The Dark Side of Customer Analytics Four commentators offer expert advice. by Thomas H. Davenport and Jeanne G. 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Theories of Ageing and Their Impact on Health and Social Care

Theories of ageing and their impact on Health and Social Care Provision (D2) During life span and development, we learned about each of the stages of life. In this report I am going to focus on the final stage which is elderly. In today’s society the population of elderly people is rising. As the population of elderly people is rising, it means the need for health and social care services is rising too. As health care services have improved so much over the last number of years, it also means that elderly people will be able to live longer because of improved services and more awareness about health. ‘10 million people in the UK are over 65 years old. The latest projections are for 5 ½ million more elderly people in 20 years’ time†¦show more content†¦During my work placement I got talking to an elderly lady who was telling me about her 40 grandchildren that she has and how she would have to give them all money at Christmas. She said she shouldn’t really have given them all money because she can’t afford it but th at it was something she always did. There are many reasons in today’s society why there are elderly people living in poverty. There are many cut backs being made that affects everyone although more so than others E.G. an elderly person. If an elderly person doesn’t have any savings and are just relying on benefits then they may start to struggle. A lot of elderly people go into residential care simply because they cannot afford to live alone and provide food and heat for themselves. For unfortunate elderly people who become ill, then they may face barriers too because they may be on a waiting list for something that they urgently need. Many elderly people do not have family to help and support them either and so some end up isolated and having to face problems on their own. In some cases, there are problems with domiciliary carers coming into an elderly person’s house. The statistics for levels of abuse states that the highest number of cases of abuse takes place in someone’s own home. This is a problem because an elderly person is vulnerable, especially if they are ill or have a mental health problem. However, there are many measures put in place now to try and prevent abuseShow MoreRelatedThe Social Issue of Ageing1031 Words   |  4 PagesSocial Issue of ageing Social issues are controversial issues that relate to the lives of people and their interactions. Some social issues are distinguishable from economic issues while some consist of both social and economic aspects. Social issues are conditions that at least some people view as being undesirable Ageing in humans refers to various changes that include physical, psychological change. 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The Brain and Language, Personal Memory, and Self-Awareness Free Essays

Sahan Ratnayake Development of Language and its influence on self-awarness, personal memory, and higher emotion. Language is defined as the system of linguistic signs or symbols considered in the abstract. Language is purely a human concept. We will write a custom essay sample on The Brain and Language, Personal Memory, and Self-Awareness or any similar topic only for you Order Now Though it is used by many animals on the planet, no other animal uses language to the extent or complexity as humans do. This is in part to the larger brain size of humans as opposed to animals. Our closest animal relative, the chimpanzee, has a brain size of around 400cc, while humans have a brain that weighs around 1300cc. This larger brain, as allowed humans to use language more efficiently to achieve its goals. With the development of language rose the characteristics that make us human: self-awareness, higher emotion, and personal memory. Though it is impossible to determine when language arose, it has been theorized that the growth of language coincided with the increase in brain volume. The brain is the control system of the body. All aspects of human behavior, language, reflexes, emotions, memory, are controlled by separate structure of the brain. Within these structures are billions of neurons, specialized cells that transmit information throughout the brain in the form of electrical signals. The brain is split into two hemispheres, the left hemisphere controlling the activities of the right side, and the right hemisphere controlling the activities of the left side. Regarding language, it was discovered that the left hemisphere of the brain is largely responsible for controlling language. More specifically, the outer surface of the central hemisphere, the cortex, is regarded as the center of human speech and language processing. Two structure of the cortex, Broca’s and Wernicke’s are responsible for speech production and understanding of written and spoken language, respectively. The development of language isn’t due solely to a larger brain, but also to genes and the physiological anatomy of humans. In the 1990s, geneticists discovered the FOXP2 gene. The FOXP2 gene is used for proper brain and lung development. Upon testing the gene, geneticists discovered that mutation to the FOXP2 gene caused severe speech and language disorder, leading scientists to conclude that the gene is essential in speech and language production. The physical anatomy of humans is also a major component in producing speech and language. These speech organs are the lungs, the voice box, the throat, the mouth, and the nose. Speech is an air pressure that travels from the speaker to the listener. The lungs produce the air pressure for speech while the rest of the speech organs shape this air pressure to create the final sounds that reach the listener’s ears. For years, scientists have tried to explain the origin of language. Though several theories have been put forth to explain the origin of language, there is no evidence to support any of them. Some scientists have theorized that language is so complex that it cannot exists in the form modern humans use today but must have evolved from our human ancestors. This theories are called continuity-based theories. There are other scientists that argue that human language is unique to humans, leading to the lack of evidence for its existence, and that it suddenly appeared in the evolution from early human ancestors to the humans that we are today. Yet there are other scientist that argue that language is embedded in the human genetic code, and others who see language is cultural, learned through social interaction. Though no solid evidence for any of these theories can be found in the early human ancestors, it is fairly certain that the earliest human ancestors to use language were Homo heidelbergensis, thought to be the common ancestor between Homo neanderthalensis and Homo sapiens. Recent archaeological finds have shown that H. heidelbergensis had an ear structure similar to that of H. apiens, which means that they could pick up the same sound frequencies modern humans could. Although this doesn’t necessarily mean they used language to communicate with one another, it is proof that H. heidelbergensis did have a system of communication. With the development of language came the ability of humans to become self-aware. Self-awareness is the ability to recognize oneself as an individual that is separate from its environme nt and other individuals. Self-awareness isn’t possible without inner speech. It is inner speech that llows individuals to question the past, present, and future. It allows them to think about themselves and to evaluate their actions. Several experiments have shown that, when individuals were asked to talk to themselves or to participate in self-relevant tasks. While doing so, it was discovered that in most people the Broca’s area in the left hemisphere of the brain, showed activity. The Broca’s area on the left hemisphere is used for inner speech. People whose Broca’s area was damaged showed that they couldn’t talk to themselves and lost the process of self-awareness. Regarding the self-aware and self-relevant tasks, fMRI scans have shown that the Broca’s area lights up. This proves that language is essential for the task of self- evaluation. Literature has also given many example of self-awareness and the development of language. In the Greek work, Illiad, that lack of subjectivity by the characters and their insistence on divine intervention suggests that the language areas of the brain weren’t as developed as they are now, causing them to credit the â€Å"gods† for their actions, good and bad. However, in the Odyssey, the use of the pronoun â€Å"I† and Odysseus’s rebellion against the gods suggests that the Broca’s area is much more developed, thus a more developed self-awareness. Language is also responsible for the human trait of memory. Memory is defined as memory from episodes in one’s life. Personal memory is also referred to as personal event memory. Neurologically, memory is stored in the hippocampus and the amygdala. Studies have shown that the hippocampus become active during recollection of memories. The amygdala is used in the recollection of emotional memories. Language is an essential part of recalling a memory. Experiments by Tessler and Nelson in 1993, where a child was asked to talk about a visit to a museum. It was discovered that the child couldn’t recall anything that wasn’t told to him by his mother. This suggests that language is a key component in recalling a memory. Several other experiments with different age groups have shown that older kids remember more than the younger children, which means that since the older kids have a broader vocabulary than the younger kids, the older participants are able to remember and recall a more vivid memory of a past event. Language is also an essential part of the human trait of higher emotion. Higher emotion differs from emotion. Emotion, also known as basic emotions, stem from the mammalian brain of humans and the amygdala. Such emotions, for example fear, are necessary for survival. Higher emotions arise in the pre-frontal cortex, a relatively new part of the brain. Higher emotions such as love, are abstract emotion; they cannot be expressed using physical movement whereas fear, a basic emotion can be expressed using facial expressions or simulation. Language is extremely important for the expression of higher emotions. Language allows humans to explain, as well as understand, higher emotions. Language is necessary for all human advancements. Humans have used language to a greater extent than do apes. Though the origin of language is uncertain, it is undisputed that our earlier ancestors, H. hidelbergensis, were able to communicate and language passed down from them to H. sapiens. Language has also allowed humans to become aware of themselves, to develop memory, and to have higher emotions, characteristics that make H. apiens unique. Works Cited 1. Plontke, Ronny. Language and Brain. N. p. , 13 Mar. 2003. Web. 27 Oct. 2012. 2. Rumbaugh, Sue Savage. â€Å"Human Language-Human Consciousness. †Ã‚  A « On the Human. N. p. , n. d. Web. 27 Oct. 2012. . 3. Morin, Alan. â€Å"Language and Self-awareness. †Ã‚  Science Consciousness Review. N. p. , 2 Aug. 2007. Web. 27 Oct. 2012. . 4. Morin, Alan. â€Å"Inner Speech and C onscious Experience. †Ã‚  Science Consciousness Review. N. p. , 20 Apr. 2003. Web. 28 Oct. 2012. . 5. â€Å"Speech Anatomy. †Ã‚  Speech Anatomy. N. p. , n. d. Web. 28 Oct. 012. . 6. â€Å"Language. †Ã‚  Wikipedia. Wikimedia Foundation, n. d. Web. 27 Oct. 2012. . 7. â€Å"Rebecca’s Dystopia. †Ã‚  : The Link Between Memory and Language. N. p. , n. d. Web. 27 Oct. 2012. . 8. â€Å"Neanderthal Behavior. †Ã‚  Wikipedia. Wikimedia Foundation, 23 Oct. 2012. Web. 27 Oct. 2012. . 9. â€Å"FOXP2. †Ã‚  Wikipedia. Wikimedia Foundation, n. d. Web. 27 Oct. 2012. . 10. â€Å"Language and Emotion. †Ã‚  Language and Emotion. N. p. , n. d. Web. 27 Oct. 2012. . 11. â€Å"Personal Event Memory. †Ã‚  Wikipedia. Wikimedia Foundation, 22 Oct. 2012. Web. 27 Oct. 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Do Managers Need Emotional Intelligence to Manage Successfully in the Workplace free essay sample

The complex nature of emotional intelligence and its imperative role in wider social affairs has given rise to the examination of its relevance to effective management and leadership. Increasing awareness of the necessity of emotional intelligence within the workplace is evident in numerous studies and research relevant to this area over the recent decades. The link between successful management and emotional intelligence is apparent as it can be seen that high emotional awareness and an ability to manage these emotions highlights three key aspects essential to good leadership: the provision of sustenance for the development of high quality interpersonal relationships with employees, improvement of the decision-making and problem-solving process by factoring in emotional consideration, and the creation of organisational awareness and identity through inspiring and constructing a collective sense of objectives. Strong communication and teamwork are undoubtedly the fundamental elements of successful workplace management and it is through good communication that a sense of trust and intimacy can be nurtured, hence creating the basis for and developing the strength of interpersonal bonds. We will write a custom essay sample on Do Managers Need Emotional Intelligence to Manage Successfully in the Workplace? or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page According to the Salovey, Mayer and Caruso four-branch model of emotional intelligence, it is through the establishment of these strong interpersonal relationships which allow for leaders to generate motivation and instil optimism and enthusiasm within his/her followers. Being able to accurately appraise and express emotions ensures the effective communication between individuals and thus provides them with a deeper understanding of the people they work with (Carmeli 2013, p791). By creating an atmosphere of cooperation and having an improved perception of emotion, followers will be more supportive of a leader’s decisions and thus be more obliged to appreciate and promote the organisation’s objectives (Zeidner et al 2004, p387). The ability to communicate effectively with followers allows a leader to connect on an individual basis and to inspire and share collective visions with the team. Goleman cited in Lam and O’Higgins (2010, p151), â€Å"Empathy†¦ is the fundamental people skill. † showing the concept of ‘social intelligence’ overlapping with that of emotional awareness and the importance of understanding and sympathising with the concerns, requirements and unspoken feelings of others. As high quality interpersonal relationships ignificantly enhance group cohesiveness and collaboration (Lam and O’Higgins 2010, p156), it is evident that empathy contributes to successful management of others, and an emotionally healthy workplace environment is fostered through a leader’s maintenance of positive relationships and understanding of the organisational members’ emotional needs. The ability to accurately assess and respond to others’ feelings enables a leader to implement significant change within an organisation and to influence the emotions and opinions of its members (George 2000, p1044). The positive correlation between transformational leadership and emotional intelligence is proven in the study conducted by Younghee et al (2011) whereby the characteristic traits of transformational leaders, such as active listening, inspiring motivation, sharing of ideas and values and individualised consideration, are exhibited in leaders high in emotional intelligence. Emotions are actively involved in the formation of judgement and the management of one’s own emotions is essential to effective leadership as it is through an emotional self-understanding that an empathic approach can be taken when managing an employee who has been confronted with an emotionally challenging situation. These leaders are able to consequently predict the emotional responses of employees in different circumstances or events; this capacity to recognise and use emotions and to respond appropriately directs the cognitive processes in decision-making and problem-solving, hence allowing for emotionally informed decisions to be made and, by extension, allowing for positive and creative organisational outcomes. By understanding the emotional concerns of the employees, a manager is well-equipped to address their issues and provide individualised support. According to Frigda (1988), as cited by George (2000), diversity in emotional self-awareness is also an important aspect of leadership effectiveness as it enables the capacity to register negative feelings caused by certain issues, hence redirecting a manager’s attention towards them. By bringing immediate consideration to these issues and noticing the initial signs of employees’ emotional disturbance, the emotional climate of an organisation can be assessed and hence workplace problems can be eliminated and avoided. Positive emotions foster creativity, allowing flexibility in decision-making and the consideration of alternate scenarios to a solution. Developing a shared vision for the organisation is a crucial element of effective leadership (George 2000, p1039) and it is through the ability to inspire and motivate employees that a manager can encourage movement towards a collective sense of objectives and goals to promote organisational outcomes. The utilisation of emotional language through charisma can articulate an appealing vision for the future, and thus persuade followers to transcend their personal interests for the collective organisational interest. Transformational leadership, considered the most effective leadership style (Lam and O’Higgins 2010, p153), can be established by four components – idealised influence (charisma), inspirational motivation, intellectual stimulation and individualised consideration – where all four dimensions are highly correlated with the understanding and management of emotions. As the name suggests, transformational leaders transform the needs and values of followers so that they are receptive to and supportive of the leader’s goals, while providing individual consideration (Ashkanasy and Daus 1993, p81). Values are infused with emotion and when those of the employees and organisation are attuned to each other, a common identity and shared ideologies are created. The promotion of a vision or set of values which is consistent with both that of the employees and organisation fosters the employees’ commitment to the organisation and, in turn, employees are able to appreciate their personal contribution, causing an increase in job satisfaction due to elevated levels of self-efficacy. Therefore, through an analysis of the reciprocal relationship of emotional intelligence and management in the workplace, it is evident that the ability to empathise and communicate emotional concerns promotes the building of high quality interpersonal relationships in the workplace. Emotional self-awareness, a thorough understanding and management of feelings, and the utilisation of the four dimensions of the transformational leadership style can allow for informed decision-making processes, inspiration for developing a sense of unity and collective goals, commitment to an organisation, and fostering of an emotionally healthy workplace environment. Thus, high emotional intelligence is crucial in the successful management of a workplace.