39 resultados para working hour recording
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http://elo.aalto.fi/fi/studies/elomedia/dataseminar/
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This Master´s thesis illustrates how growing a business ties up the company´s working capital and what the cost of committed capital. In order to manage a company´s working capital in rapid business growth phase, the thesis suggests that by monitoring and managing the operating and cash conversion cycles of customers´ projects, a company can find ways to secure the required amount of capital. The research method of this thesis was based on literature reviews and case study research. The theoretical review presents the concepts of working capital and provides the background for understanding how to improve working capital management. The company in subject is a global small and medium-sized enterprise that manufactures pumps and valves for demanding process conditions. The company is expanding, which creates lots of challenges. This thesis concentrates to the company´s working capital management and its efficiency through the supply chain and value chain perspective. The main elements of working capital management are inventory management, accounts receivable management and accounts payable management. Prepayments also play a significant role, particularly in project-based businesses. Developing companies´ working capital management requires knowledge from different kind of key operations´ in the company, like purchasing, production, sales, logistics and financing. The perspective to develop and describe working capital management is an operational. After literature reviews the thesis present pilot projects that formed the basis of a model to monitor working capital in the case company. Based on analysis and pilot projects, the thesis introduces a rough model for monitoring capital commitments in short time period. With the model the company can more efficiently monitor and manage their customer projects.
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The objective of this thesis is to study the role of received advance payments in working capital management by creating a new measurement and to study the relationship between advance payments and profitability. The study has been conducted using narrative literature review and quantitative research methods. The research was made analyzing 108 companies listed in Helsinki Stock Exchange. The results indicate that 68 % of the studied companies are receiving advance payments and the average cycle time for received advance payments is 13 days. A new key figure is created to include received advance payments into the calculation of working capital. Received advance payments shorten the working capital cycle, by 13 days, when they are used in the calculation. The role of advance payments is not as significant as the role of receivables and inventories but advance payments may have a larger role than payables if the company is receiving noticeable amounts of advance payments. There are three branches where companies are receiving more advance payments than average companies. The branches are project business and ICT and publishing sectors. There is a negative correlation between profitability and advance payments based on the results of this study.
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Working capital is an investment which is tied up into the inventories and accounts receivable and which is released with accounts payable. Due to the current business landscape with tightened financial conditions and finance markets, organizations emphasize efficient working capital management. With efficient working capital management, a company can reduce the need of finance, free up cash, increase profitability, improve liquidity, increase the efficiency of operations, and decrease (financing) costs. From the perspective of an individual company, efficient working capital management means decreasing inventory levels by shortening the cycle time of inventories, decreasing accounts receivable by shortening the trade credit terms and effective collection procedures, and increasing the level of accounts payable by paying the suppliers later. From an inter-organizational perspective, however, working capital should not be sub-optimized by a single company but holistic view to working capital management through the supply chain should be adopted to create value and improve performance together. The purpose of this research is to take academic research as well as practical management towards inter-organizational working capital management. The thesis discusses the benefits as well as mechanisms of working capital management in the inter-organizational context and has two main objectives: (1) to examine the effect of inter-organizational working capital management on performance in the value chain context and (2) to develop models of working capital management for internal as well as inter-organizational value chains. The results of the archival research conducted in the value chain of the pulp and paper industry and the value chain of the automotive industry indicate that companies can increase relative profitability by managing working capital comprehensively by taking into account all three components, and holistically though the value chain. Companies in the value chain benefit from different strategies in working capital management depending on the position of the company in the value chain. This can be taken into account in inter-organizational working capital management. The effects of inter-organizational working capital management actions on the financing costs of working capital were studied via simulations. Simulations also show that the value chain and individual companies benefit from an inter-organizational view to working capital management. Inter-organizational working capital management actions include for example: shortening the cycle time of inventories, reducing product costs, shifting inventories, shortening payment terms, and considering the cost of capital. The thesis also provides solutions for the practical requirements for tools to control working capital. The design science part of the research introduces the adjusted cash conversion cycle (ACCC) model for internal value chains, as well as models for working capital management in the inter-organizational value chain context: the working capital management model (WCMM) and the financial cycle time model (FCTM) designed in corporation and product levels respectively. This research contributes to literature on working capital management and interorganizational accounting. The research gives a holistic, inter-organizational view to the management of working capital. It advances the knowledge in working capital management on operational level, increases knowledge in the recently risen theme of supply chainoriented, collaborative working capital management, combines management accounting research with supply chain management research, and contributes to the demand of practical inter-organizational accounting methods. In addition, the research has strong practical focus as new managerial methods are introduced.
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Commercially available haptic interfaces are usable for many purposes. However, as generic devices they are not the most suitable for the control of heavy duty mobile working machines like mining machines, container handling equipment and excavators. Alternative mechanical constructions for a haptic controller are presented and analysed. A virtual reality environment (VRE) was built to test the proposed haptic controller mechanisms. Verification of an electric motor emulating a hydraulic pump in the electro-hydraulic system of a mobile working machine is carried out. A real-time simulator using multi-body-dynamics based software with hardware-in-loop (HIL) setup was used for the tests. Recommendations for further development of a haptic controller and emulator electric motor are given.
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Professions are a special category of occupations that possesses exclusive rights over its domain of expertise. Professions apply expert knowledge in their work by using professional discretion and judgment to solve their clients’ problems. With control over their expert knowledge base, professions are able to control the supply of practitioners in their field and regulate the practice in their market. Professionalization is the process during which occupations attempt to gain the status of a profession. The benefits of becoming a profession are extensive – professional autonomy, social and financial rewards, prestige, status, and an exclusive community are only a few of the privileges that established professions possess. Many aspiring occupations have tried and failed to gain the status of a profession and one of these groups is the occupation of controllers in Finland. The objective of this study to uncover, why controllers have not professionalized, which properties of the occupation correspond with the elements generally regarded to pertain to professions, and which aspects of the occupational group may hinder the professionalization project. The professionalization project of controllers is analyzed using a multi-actor model of professionalization, in which practitioners, clients, the state, training institutions, and employing organizations are considered to affect the project. The properties of the occupation of controllers are compared to features generally associated with professions. The research methodology for this thesis is qualitative, and the study is conducted as an exploratory research. The data is primarily gathered using semi-structured interviews, which were conducted between March and May 2013 lasting from 40 minutes to an hour. In total, four controllers were interviewed, who worked for different companies operating in different industries, and whose experience of working as a controller varied between a few years to nearly 15 years. The data in this study indicates that although controllers possess qualities that distinguish professions from other occupational groups, the professionalization of controllers may not be plausible. Controllers enjoy considerable autonomy in organizations, and they possess a strong orientation towards serving their clients. The more profound problem with the occupation is its non-exclusive, indistinct knowledge base that does not rely solely on a single knowledge base. Controllers’ expertise is relatively organization-specific and built on several different fields of knowledge and not just management accounting, which could be considered as their primary knowledge base. In addition, controllers have not organized themselves, which is a quintessential, but by no means a sufficient prerequisite for professionalization.
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The objective of this Master’s thesis is to create a calculation model for working capital management in value chains. The study has been executed using literature review and constructive research methods. Constructive research methods were mainly modeling. The theory in this thesis is founded in research articles and management literature. The model is developed for students and researchers. They can use the model for working capital management and comparing firms to each other. The model can also be used to cash management. The model tells who benefits and who suffers most in the value chain. Companies and value chains cash flows can be seen. By using the model can be seen are the set targets really achieved. The amount of operational working capital can be observed. The model enables user to simulate the amount of working capital. The created model is based on cash conversion cycle, return on investment and cash flow forecasting. The model is tested with carefully considered figures which seem to be though realistic. The modeled value chain is literally a chain. Implementing this model requires from the user that he/she have some kind of understanding about working capital management and some figures from balance sheet and income statement. By using this model users can improve their knowledge about working capital management in value chains.
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Presentation at Open Repositories 2014, Helsinki, Finland, June 9-13, 2014
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Presentation at Open Repositories 2014, Helsinki, Finland, June 9-13, 2014
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The aim of this study was to analyse mothers’ working time patterns across 22 European countries. The focus was on three questions: how much mothers prefer to work, how much they actually work, and to what degree their preferred and actual working times are (in)consistent with each other. The focus was on cross-national differences in mothers’ working time patterns, comparison of mothers’ working times to that of childless women and fathers, as well as on individual- and country-level factors that explain the variation between them. In the theoretical background, the departure point was an integrative theoretical approach where the assumption is that there are various kinds of explanations for the differences in mothers’ working time patterns – namely structural, cultural and institutional – , and that these factors are laid in two levels: individual- and country-levels. Data were extracted from the European Social Survey (ESS) 2010 / 2011. The results showed that mothers’ working time patterns, both preferred and actual working times, varied across European countries. Four clusters were formed to illustrate the differences. In the full-time pattern, full-time work was the most important form of work, leaving all other working time forms marginal. The full-time pattern was perceived in terms of preferred working times in Bulgaria and Portugal. In polarised pattern countries, fulltime work was also important, but it was accompanied by a large share of mothers not working at all. In the case of preferred working times, many Eastern and Southern European countries followed it whereas in terms of actual working times it included all Eastern and Southern European countries as well as Finland. The combination pattern was characterised by the importance of long part-time hours and full-time work. It was the preferred working time pattern in the Nordic countries, France, Slovenia, and Spain, but Belgium, Denmark, France, Norway, and Sweden followed it in terms of actual working times. The fourth cluster that described mothers’ working times was called the part-time pattern, and it was illustrated by the prevalence of short and long part-time work. In the case of preferred working times, it was followed in Belgium, Germany, Ireland, the Netherlands and Switzerland. Besides Belgium, the part-time pattern was followed in the same countries in terms of actual working times. The consistency between preferred and actual working times was rather strong in a majority of countries. However, six countries fell under different working time patterns when preferred and actual working times were compared. Comparison of working mothers’, childless women’s, and fathers’ working times showed that differences between these groups were surprisingly small. It was only in part-time pattern countries that working mothers worked significantly shorter hours than working childless women and fathers. Results therefore revealed that when mothers’ working times are under study, an important question regarding the population examined is whether it consists of all mothers or only working mothers. Results moreover supported the use of the integrative theoretical approach when studying mothers’ working time patterns. Results indicate that mothers’ working time patterns in all countries are shaped by various opportunities and constraints, which are comprised of structural, cultural, institutional, and individual-level factors.
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Tutkimuksen tarkoituksena oli analysoida vanhusten ympärivuorokautisen hoidon yksiköissä työskentelevien työntekijöiden työn fyysistä ja psyykkistä kuormittavuutta ja työhön liittyviä fyysisiä riskejä. Lisäksi haluttiin selvittää, millaisia vaikutuksia fyysisen kuormittavuuden vähentämistä tavoitelleella ergonomisella kehittämisinterventiolla saadaan aikaan. Tutkimuksessa hyödynnettiin Turun kaupungin vanhuspalveluissa vuosina 2010–2012 toteutuneessa ergonomisessa kehittämisinterventiossa (47 työyksikköä) kertynyttä ja vuosien 2010 ja 2012 Kunta10-kyselyn (120 työyksikköä) tuottamaa tietoa. Intervention ydin oli Työterveyslaitoksen Fyysisten riskien hallintamalli hoitoalalla -mallin käyttööotto. Käytetyt mittarit olivat seuraavat: Työn kuormitus- ja työtyytyväisyyskysely työntekijöille, asiakkaiden toimintakykyä mittaava RAVATM -indeksi, fyysistä kuormitusta ja työn riskejä mittava Care ThermometerTM-menetelmä, potilassiirtojen turvallisuusjohtamisen (PHOQS) arviointi sekä esimies- ja ergonomiavastaavien kysely. Lisäksi käytössä olivat Kunta10-kyselyn tulokset valittujen muuttujien osalta kaikista tutkimukseen osallistuvista kaupungeista sekä ympärivuorokautisen hoidon asiakkaita ja hoitohenkilöstöä kuvaavia tilastoja. Työ vanhusten ympärivuorokautisessa hoidossa on fyysisesti ja psyykkisesti kuormittavaa. Interventiotoimenpiteistä huolimatta koettu fyysinen ja psyykkinen kuormittavuus kasvoivat, tosin fyysinen psyykkistä vähemmän. Kuormittavuus vaihteli toimintamuodoittain ja ammattiryhmittäin. Fyysisesti kuormittavimmaksi työ koettiin pitkäaikaissairaanhoidossa, psyykkinen kuormitus kasvoi eniten tehostetussa palveluasumisessa. Vanhainkodit sijoittuivat näiden väliin. Lähihoitajat kokivat työnsä fyysisesti kuormittavimmaksi, kun taas sairaanhoitajien työ oli psyykkisesti lähihoitajien työtä kuormittavampaa. Ergonomiakoulutus vähensi eniten koettua fyysistä kuormittavuutta. Kehityskeskustelut ja aiempaa paremmaksi arvioitu työkyky vähensivät mutta tyytymättömyys työhön lisäsi koettua fyysistä ja psyykkistä kuormittavuutta. Työntekijöiden ikä, RAVATM -indeksi, Care ThermometerTM -mittaukset ja PHOQS-pisteet eivät olleet tilastollisesti merkitsevästi yhteydessä kuormittavuuden muutoksiin. Työn kuormittavuuden vähentäminen ja turvallisen työskentelyn edistäminen vaativat pitkäkestoista toimintaa ja hyvää johtamista erityisesti lähiesimiehiltä. Fyysisten riskien hallintamallin käyttöönotto ja ergonomiavastaavien toiminnan vakiinnuttaminen tukevat tavoitteiden saavuttamista.