Monday, December 23, 2019

How Sun Produces Light And Heat - 1689 Words

Mubarak Alkhulifi 12/2/15 How Sun Produces Light and Heat? It is a common among human beings that our brain asks questions regarding everything, which comes in front of us in our daily routine. We tend to explore why and how it occurred or was produced and we try to get to the core of it. With the development of this universe, man is now questioning how it was created. But, unlike other man made stuff, the core of this universe is pretty complex to understand since it has many other things linked with it. A really complex structure of this universe is what remains to be explored. And then, a part of this universe is Sun which provides heat and light to the whole universe. Now the question is, how is it possible that one sun provides light and heat energy to the whole universe? Before coming towards the main theme, I would like to introduce some statistics about the sun which are important for the understanding of readers as they are directly related to how sun is even able to provide this energy to the whole universe. The surface of sun isn’t that small what it seems to be from the naked eye. When was closely observed, its surface was even bigger than the surface of earth and for sun, it was easy to engulf our planet as well. Along with it, the surface temperature of sun is around 6000 Kelvin which makes about 10,340 Degrees Fahrenheit and 5,726 degrees on the Celsius scale (What Causes the Sun to Give off Heat?, 2012). Considering this temperature, it is easy toShow MoreRelatedPreserving Our World with Solar Energy900 Words   |  4 PagesSolar energy is a way to restore and preserve our world. How wonderful it would be to use the suns energy to heat and cool our homes, power out cars and run the electricity to light our houses. 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At the sun’s core, gravity attracts all of the mass inward and generates a pressure large enoughRead MoreRenewable Resources For Solar Energy1387 Words   |  6 Pagesbeen working for numerous years to find new ways to generate energy without using these resources that cause issues for the environment. By using renewable sources such as the sun, new ways to create energy have develope d. Solar energy is energy that is created by the sunshine. This sort of energy that derives from the sun can create electricity in households. With new emerging technology, solar energy can perform different types of energy for diverse uses such as heating water or generate electricityRead MoreThe World Is Without Energy1639 Words   |  7 PagesWhere would the world be without energy? Well, the answer is nowhere, the earth wouldn’t exist because there would be no nuclear fission of hydrogen occurring on the sun and the earth the earth would freeze over and fall into darkness. 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According to Conserve Energy Source, a website dedicated about alternative Energy sources, â€Å"Solar is the first energy source in the world. It was in use much earlier before humans even learn how to light a fire. The solar is mostly used in generating light and heat (Rinkesh).† The sun radiates its heat and comes down upon the earth producing heat from the sun’s rays. This is where PV cells come in. PV cells collect theRead MoreEarths Natural Energy Sources Essay1470 Words   |  6 PagesINTRODUCTION Renewable energy is energy produced from natural resources such as, wind, sunlight, rain, tides and geothermal heat which can be re-used or replenished. Natural energies (renewable energies) have its advantages and disadvantages. The reliance on fossil fuel is reduced by the sources of renewable energy. Though the use of natural sources has many advantages over the use of fossil fuels, the cost of investment for it can be too high for some people. In this project, I will be highlightingRead MoreElectricity is the Main Factor in Producing Carbon Dioxide678 Words   |  3 Pagesand explain scientifically how it has impacted the environment.`` On average the world us 39% electricity therefore, electricity consumption is an important portion of a customer’s environmental footprint, which leads to the production of Carbon Dioxide ( Co2) a few ways production of electricity has affected the environment is: The main sources that generate carbon dioxide are thermal powered stations where hydrocarbon fuel (gas, oil, and coal) are burned to produce heat and steam to drive to theRead MoreScience of Stars Essay1117 Words   |  5 Pagesabout the science of the stars. In this paper I will address how astronomers determine the composition, temperature, speed, and rotation rate of distant objects. I will briefly explain the properties of stars in the H-R diagram from Chapter 15 of the course textbook â€Å"The Cosmic Perspective†. I will also summarize the lifecycle of the Sun and identify where the Sun is in its lifecycle. Studying Distant Objects Astronomers study light which comes from distant objects to determine its compositionRead MoreEnergy Resource: Natural Gas and Solar Energy Essay1215 Words   |  5 PagesMy two topics that I will be talking about are Natural Gas and Solar Energy. Natural gas is a nonrenewable resource and pretty soon we are going to have to learn how to do without it. Solar energy will always be around. It’s not very major now but in a few years I’m sure it will be. Natural gas is a mixture of Hydrocarbon gases that form with a petroleum deposit. A hydrocarbon is a compound that’s mostly made up of Hydrogen and Carbon. Natural gas is methane together with some of ethane, propane

Sunday, December 15, 2019

History of Auditing Free Essays

string(46) " note the progression of accountancy as well\." | | |The History of Auditing | |A detailed overview | | | | | | | | Auditing has a rich history within the United States. There have always been various rudimentary forms of auditing when the first businesses were started; however the focus of this paper will be on auditing standards within the twentieth century. To look beyond that departs from what would typically be termed as â€Å"modern accountancy† and its relevant roots. We will write a custom essay sample on History of Auditing or any similar topic only for you Order Now Author Bruce Marshall helps describes why this historic perspective is so important of our field: â€Å"Accountancy is a recognized profession like those of law and medicine. †¦ In fact it might not be too much to say that it is regarded as the most important of all the professions. Indeed it is the cornerstone upon which the whole industry of our Empire is built. †[1] Establishing a Need for Auditing In one of the earliest forms of organized auditing, the American Institute of Certified Public Accountants issued a series of pamphlets to the accounting profession in 1917. The pamphlets were designed to guide financial statement analysis and auditing in general, offering more transparency to the emerging corporations that were springing up around the country. Strong motivation for this release came from the Federal Trade Commission and the Federal Reserve Board, stemming from a panic in the previous decade that had sent chills through the investment community. Both entities wanted to offer a stabilizing force to help guide the United States’ corporate growth. An early accounting journal discusses the pamphlets: â€Å"The memorandum is of such importance that it has been reprinted in full in this issue of The Journal of Accountancy and we are confident it will appeal to all readers. To the members of the institute it will serve as a guide in all their audits for credit purposes, and they will understand that the burden of proof will be upon them if they omit any of the procedure laid down in the memorandum. [2] The pamphlets were an adequate start, yet lacked the authority to be the final solution for stability. Federal Trade Commission Chairman W. E. Humphrey delivered a well timed statement on the progress the FTC had made, but also addressed some of the limitations: â€Å"I am constrained to believe that the business of this country, and particularly big business, is more and more forced to the conclusion that honesty is not only the best policy, but that it pays the highest dividends. I feel that there has been a tremendous improvement in the conduct of the business of the country over the last few years, but the time has not come, and I regret to say that it seems far off, when the strong arm of the government will not be needed to protect the public from greed, monopoly, fraud, and unfair practices. †[3] Humphrey however, could not foresee how right he actually was. After an especially lucrative decade for investors in the roaring twenties, one of the most devastating financial crises struck the United States in 1929 as the NY stock exchange came tumbling down. Corruption and greed were rampant among most major companies, whom often distorted how risky their operations actually were. Margin borrowing by investors allowed huge amounts of debt to be taken on without proper risk mitigation. Investors, knowing no better, had dumped small fortunes into the market. The fragile infrastructure of the system couldn’t handle the load and eventually caved in. Those companies that would survive the crash needed standardization and change in order for the investors’ faith to be restored. The Federal Trade Commission stepped in to fill this need. The first official document: â€Å"Verification of Financial Statements,† which was solely dedicated to provide guidance for audit, was released the same year as the crash. This document dove further than the previous decades’ pamphlets did, focusing in on small and medium sized companies, as well as the general need for the customized auditing tailored to each different companies, based on need. In response to the extreme amounts of personal wealth destroyed during the tock market crash in 1929 and the ensuing depression, Congress was forced to take even more action. The suggested guidelines outlined by the FTC were just not enough to ensure a stable economy. The regulation of business and the accounting firms is commonly recognized to have been born just after the Securities and Exchange Commission (SEC) was established in the mid 1930s. Despite public investment being in an advanced stage at the time, corpora te regulation was practically unheard of. The SEC was a product of both the Securities Act and the Securities Exchange Act. William Raymond offers insight on the initial operations of the SEC and how the investor took advantage: â€Å"There are probably thousands of investors throughout the country who are at a loss to understand what value is all the data gathered by the Securities and Exchange Commission, which is headquartered in Washington and no convenient way for the investor to visit and secure the valuable data themselves. To these investors, the commission offers a very adequate mailing service, through which various actions by the commission, decisions and other matters may be obtained simply by requesting the placing of their names on the mailing list. [4] Even from the beginning, serious debates raged in Washington about whether it was constitutional for the government to be involved in public corporations, much less private ones. Without regulation, there was fear another collapse was unavoidable. Establishing standards for preparing and auditing financial statements was decided to be the ba re minimum that was essential to steer clear of any future turmoil. The authority to set the rules and oversight for what would become â€Å"auditors† was given to the SEC. Auditors themselves were allowed to set their own standards, but final say was still in the hands of the SEC. It is important to distinguish between accounting standards and auditing standards. Although related, auditing is but a piece of accounting. Nevertheless, to truly understand the history of auditing, one must note the progression of accountancy as well. You read "History of Auditing" in category "Essay examples" Regulating Auditing Procedures In recognition of the expertise and resources of the accounting profession, the SEC has traditionally looked to the standard setting bodies from the private sector to provide a foundation for improving accounting principles and reporting standards. The private sector offered a baseline set of guidelines, which the SEC built off of. From 1938 and 1959, the Committee on Accounting Procedure (CAP) issued 51 Accounting Research Bulletins. The ARBs formed the basis of what is probably the single biggest resource to accountants today. GAAP, or the generally accepted accounting principles, is the foundation of all modern accounting. By 1959, CAP had been replaced by another entity, the Accounting Principles Board (APB). The APB was responsible for 31 new general accounting standards from 1959-1973. This transition would mark the beginning of a plethora of different organizations over the years which would guide the practice. To improve the quality of audits in the 1960’s, the bigger companies added a new technique. Peer review, as it was called, required firms to confirm the accuracy of one another. It was so effective; the AICPA eventually added it as a requirement in 1977 for any member of the CPA division (within the AICPA). Firms were not required to join this division, but those who did agreed to a peer review as part of the guidelines. Eventually the peer review was deemed mandatory for all firms, membership or not, as part of the complete overhaul to the self control systems in 1989. The restructuring enacted change in the AICPA’s bylaws that required all members who practice must belong to a special group within the parent organization called the SEC Practice Section. The Practice Section had numerous guidelines for membership. The most notable included provisions that each member must engage in a peer review with another firm of comparable size. The point of the provision was to offer further reassurance to investors that operating accountants had adequate control mechanisms, regarding the integrity of GAAP and GAAS. While peer review is not a complete test, the idea is that a sampling of a firm’s work represents an adequate representation of the entire operation. Auditing every piece of work in a firm would be a completely unreasonable request, thus sampling method would have to suffice. Any findings from the peer reviews were available for viewing by the general public. Each firm is issued a report that contains the audit results and sometimes even comments on how the firm might improve its reporting procedures. Occasionally, a reader might even find the resulting changes made and any comments the audited firm has made regarding the issue. This open communication was a significant step forward towards complete transparency. William Kinney comments on what is important to the users: â€Å"Internal controls are also important to investors, the government, and ociety as a whole since they may affect long-term confidence in corporate accountability, and in the corporate form of organization. †[5] Despite this transparency, the increasingly complex business environment was proving to be too much to handle for one part time regulating committee, even with peer reviews. In order to solve this issue, an independent organization was necessary to help cater to the interests of investors, accountants and creditors. A full time committee eventually ended up relieving the AICPA of its duties. FASB, or Financial Accounting Standards Board, was officially created in 1972. FASB’s primary responsibility surrounds setting ground rules in all non governmental entities. These ground rules covered anything from revenue recognition  and all other broad topics, to specific topics such as dividends. Marshall Armstrong writes in detail about its purpose: â€Å"The objective of the qualitative standards is to provide guidance in determining the substance of a transaction or event, regardless of its form, and a moral and ethical basis for its fair presentation in financial reports. [6] These standards are officially recognized by the SEC as the authoritative standard. Even with the establishment of FASB, the AICPA still existed to a limited extent. Through the means of the Accounting Standards Executive Committee, the AICPA works to collaborate with FASB on common objectives. Membership practices in FASB are intended to keep a level of independence but still effectively opera te with the private sector in mind. It operates under the auspices of the Financial Accounting Foundation (FAF), which consists of sixteen trustees, twelve of whom are elected by representatives of FAF’s sponsoring organizations — the AICPA, the American Accounting Association; the Financial Executive Institute; the Securities Industry Association; the National Association of State Auditors, Controllers and Treasurers; the Institute of Management Accountants; and the Government Finance Officers Association. The other four at-large members are appointed by the FAF itself. The FAF, in turn, appoints the members of the FASB and its advisory council. It is also responsible for funding the FASB. †[7] The first specific auditing standards were issued way back in 1939. The American Institute of Accountants authorized the appointment of a standing committee to advise on auditing procedure. By 1941, the AIA had released a several statements with the purpose to guide the individual auditor. Most notably was the â€Å"Statements on Auditing Procedure†, which offered a baseline for how auditors should responsibly approach individual audits, while using proper judgment. These â€Å"SAP† s would be the first of 54 future statements issued up until 1970. The SEC required all auditors to swear upon their work, that it followed these generally accepted auditing standards. To help with compliance of this requirement, the SEC released the â€Å"Generally Accepted Auditing Standards—Their Significance and Scope. † Within ten years, the committee combined twenty-four of the pronouncements into one single body which would be referenced often during the process of internal control. Other notable consolidation efforts included the 1962 release of the â€Å"Statement of Auditing Procedure No. 33† which combined many of the standards trickled out between 1949 and 1963. This baseline document was turned into a single presentation, being coded in the process by 1972. The 1972 revision was held under the title: â€Å"Statement on Auditing Standards† or SAS. With the combination and official first uniform document, the committee officially changed its name to the Auditing Standard Executive Committee (AudSEC). In the next six years, AudSEC released 23 total SASes as a guideline for auditors. The AICPA continued to conduct numerous studies through committees on how to operate most effectively as a tool to the accounting profession. By 1978, the Auditing Standards Board (ASB) was the newest incarnation of an organized body charged with setting standards for the profession. An AudSEC’s successor, the ASB operated as 15 members with the responsibility to make relevant public statements, without having to obtain clearance first from the AICPA. Furthermore the ASB would set ground rules for how an auditor performs his assessment in regards to whether financial statement presentation conforms to the generally accepted accounting principles. Before setting new standards, the ASB will carefully gather all relevant opinions, including those of the Chief Accountant of the SEC as well as various other well known and respected individuals in the profession. The ASB replaced all previous senior technical committees in regards to the GAAS. The Public Oversight Board (POB) was created in 1977, which further helped to push transparency in the industry. The POB is a watch group entity responsible for oversight of the processes of the SECPS. The POB is an independent organization, which despite being funded by the SECPS, controls its own membership. If a firm has more than thirty SEC audit clients, then the POB will engage in reviews of the firm. The reviews can also take place in firms with less than thirty SEC audit clients, but the frequency of them is far fewer. Furthermore, the SEC will periodically inspect a sample of the peer reviews and even compile an annual public report that details its operations for the year. Auditing in Modern Times Over seventy years after the stock market crash of 1929, again the Unites States would be struck by the uncertainty of the public corporation. The collapse of Enron revealed fraudulent accounting practices by the energy company itself and its accounting firm Arthur Anderson. By creating special purpose entities, Enron and Arthur Andersen effectively hid massive amounts of Enron debt, making the company appear much more profitable than it actually was. The house of cards built by Enron eventually collapsed leaving the SEC to sift through the rubble to discover what had actually happened. Also complicit were Arthur Andersen and lead Partner David Duncan. Duncan earned $700,000 annually to manage this account, plus part of Andersen’s partnership profit pool. To appease Enron, he apparently did not require many large audit adjustments for several years, and often signed off on financial statements that were, by any reasonable standards, unclear and misleading. This shoddy work and attempts to eliminate key evidence led to Andersen’s felony conviction and demise – apparently ignoring its founder’s key slogan of thinking straight and talking straight. [8] In response to the Enron collapse as well as the other companies which went down in its wake, the SEC was forced to up the ante, so to speak, with public transparency and accountability. In 2002, the Sarbanes-Oxley Act was put into place, which drastically altered the structure of GAAP. Through the Sarbanes-Oxley Act, the Public Company Accounting Oversight Board (PCAOB) and the Securities Exchange Commission (SEC) were given the final say over all auditing standards. Registration was required with the PCAOB for CPAs and CPA firms who worked with public companies. Once registered, members must adhere to all standards, principles, rules, and interpretations set forth by the PCAOB. Further restructuring surfaced in 2004 as the PCAOB was set as the authority on public companies (as it pertains to GAAS), while the ASP oversaw private companies. Chuck Landes, a VP with the AICPA, speaks to the changes in an interview with the Ohio Society of CPAs: â€Å"Auditing standards have changed and now call for more attention to the audit itself. Auditing is a serious business and it needs to be taken seriously. You can’t be a part-time auditor. I see firms making intelligent decisions about being in the audit business and committing the necessary resources around the audit function. In our new risk assessment standards, having an understanding of the industry is essential. †[9] The unfortunate trend with auditing standards is that a tragic event usually occurs for the foundation to adjust. It is a great system to catch and fix problems, but as the time passes, the scale of the instigating event becomes larger and larger. As long as there are men and women with greed, there will be a need for auditing. Armstrong, Marshall. 1973. FASB will develop broad qualitative standards. The CPA Journal (pre-1986)  43,  no. 000010,  (October  1):  844 Bateman Co. A History of Accounting Auditing Standards. February 2002. http://www. batemanhouston. com/newsStds. htm Humphrey W E. 1928. A Friend of Honest Business. Nation’s Business (pre-1986),  June  5,  31. Kinney, William R. , Jr. ,  Maher, Michael W. ,  and  Wright, David W. 1990. Assertions-Based Standards for Integrated Internal Control. Accounting Horizons  4,  no. 4,  (December  1) Lasch, Erin. 2002. Chuck Landes is Rewriting Audit History. Catalyst 48-50 Marshall, Bruce. 1958. The Bank Audit. Edinburgh: Houghton Mifflin. Alan Reinstein,  Stephen R. Moehrle,  and  Jennifer Reynolds-Moehrle. â€Å"Crime and punishment in the marketplace  :Accountants and business executives repeating history. †Ã‚  Managerial Auditing Journal  21,  no. 4  (May  1,  2006):  420-435. Raymond, William T. (1935,  July  29). SEC Keeps Investors Informed. Barron’s (1921-1942), pg. 8 Richardson, AP. â€Å"The Federal Reserve Board and audits. †Ã‚  Journal of Accountancy (pre-1986) 23,  no. 000006  (June  1,  1917):  452. ———————– 1] Marshall, Bruce. 1958. The Bank Audit. Edinburgh: Houghton Mifflin. [2] Richardson, AP. â€Å"The Federal Reserve Board and audits. †Ã‚  Journal of Accountancy (pre-1986) 23,  no. 000006  (June  1,  1917):  452. [3] Humphrey W E. 1928. A Friend of Honest Business. Nation’s Business (p re-1986),  June  5,  31. [4] Raymond, William T. (1935,  July  29). SEC Keeps Investors Informed. Barron’s (1921-1942), pg. 8 [5] Kinney, William R. , Jr. ,  Maher, Michael W. ,  and  Wright, David W. 1990. Assertions-Based Standards for Integrated Internal Control. Accounting Horizons  4,  no. ,  (December  1) [6] Armstrong, Marshall. 1973. FASB will develop broad qualitative standards. The CPA Journal (pre-1986)  43,  no. 000010,  (October  1):  844 [7] Bateman Co. A History of Accounting Auditing Standards. February 2002. http://www. batemanhouston. com/newsStds. htm [8] Alan Reinstein,  Stephen R. Moehrle,  and  Jennifer Reynolds-Moehrle. â€Å"Crime and punishment in the marketplace  :Accountants and business executives repeating history. †Ã‚  Managerial Auditing Journal  21,  no. 4  (May  1,  2006):  420-435. [9] Lasch, Erin. 2002. Chuck Landes is Rewriting Audit History. Catalyst 48-50 How to cite History of Auditing, Essay examples

Saturday, December 7, 2019

Healthcare Management and Leadership

Question: The purpose and function of management and leadership in the healthcare organisation is to help create and maintain integration, bring employees from all levels of the organisation closer together, and to enhance performance and productivity. Basically, healthcare management and leadership is the personality, attitude and behaviour of the organization. Management and leadership style is made up of the assumptions, values, and norms of organisation members, and their behaviours. Demonstrate an understanding of organisational management and leadership styles as to relate to healthcare system. Answer: This essay aims to provide an understanding of organisational management and leadership styles in relation to a healthcare system. The purpose and function of management and leadership in the healthcare organisation is to provide assistance for creating and maintaining integration, bringing employees from all levels of the organisation in close association, and enhancing the overall performance and productivity. Healthcare management and leadership concern the attitude, personality and behavior of a healthcare organization. Management and leadership style is made up of the values, norms, and assumptions of the members of organization and their behaviors (Gopee Galloway, 2013).In this essay, the chosen style of management is democratic style of management and chosen leadership style is Transformational style of leadership. This essay will discuss the roles of a manager and a leader and will describe the principles that are adopted by a leader to ensure the effective working environme nt in a healthcare organization. It will also discuss the role played by the healthcare organisation in the development of effective managers and leaders. In a healthcare organization, leadership is one of the most important criteria of the healthcare professionals. It involves the interactions between a lead and the other staff and influences them to achieve the goals of the workplace. The best style of leadership with respect to a healthcare organization is Transformational leadership (Rigolosi, 2012). The leaders who possess this type of leadership have the capability of changing their workforce from self-serving persons in the organization. These leaders possess a clear vision and have the ability to communicate effectively with all the employees. They stimulate them to be more inventive and acts as role models. They are always ready to take risks and or us alternative methods to achieve the collective vision of the organization. Thus, they provide space for their employees as well as the organization all together to grow and prosper in an efficient manner (Shanks, 2016). The management style which is preferred the most in a healthcare organisation is Democratic management style which is also also known as participative management style. In this type of management, the manager consults the team prior to making decisions and maintains the overall control (Kelloway et al., 2012). The team leader decides who will perform the work, how a particular task will be addressed and never loses the view of the fact that the manager possess the ultimate accountability. There occurs a good consultation among the teams so that they can identify the problems early. The morale of the staff is benefitted by a good communication among the team members (Numerato et al., 2012). This style of management offers a variety of advantages at all the levels of the organization. By forming a sense of control in organisation, democratic management inculcates a sense of pride and encourages the employees to enhance output in order to accomplish their goals. The employees who are gi ven with the opportunity to participate in terms of making decisions of the organisation then they consider themselves as a part of the team striving to accomplish a common goal. Through this, they also discover their sense of worth and their ability of inventiveness is enhanced (Hutchinson Jackson, 2013). In a healthcare organisation, the managers have a legal and ethical obligation to make sure that a high quality of care is offered to the individuals who seek help in order to recover from their illness or disease (Kelloway et al., 2012). These managers are in a leading position to mandate procedures systems, policies and organisational environments. Therefore, several scholars have argued that it is apparent that the managers of healthcare possess a significant and evident role in the safety of patient and quality of care and that it is one of the main priorities of the healthcare managers (Wang et al., 2012). The role of a leader having transformational leadership style in the healthcare setting encompasses encouraging teamwork among members of staff; motivate them for developing positive self-respect. They also empower them to become more involved for developing and implementing procedures and policies. The transformational leader depicts reliability and serves as a role model to others. The presence of a transformational leadership is essential, especially in the healthcare sector (Cummings Worley, 2014). The qualities of transformational leadership promote an environment, which is healthy for the staff and the employees, which will lead to the improved satisfaction if patients, satisfaction of staff and retention. This type of leadership encompasses inspiration, charisma, and intellectual stimulation together with individual thoughtfulness. The leaders having this style of leadership possess self-direction and self-confidence (Kumar, 2013). In the healthcare setting, transformational leaders stimulate the other staff members by encouraging the utilization of evidence-based practices and addressing the how and why of precise clinical actions. An exceptionally prominent characteristic of a leader having transformational leadership style in a healthcare organization includes the act of of engaging the the stakeholders in the process of leadership. In healthc are sector, stakeholders include institutions, organisations and healthcare providers, healthcare industries, representatives of the state government, patients and healthcare academia (Erskine et al., 2013). Influencing and motivating others are the essential elements of transformational leadership. Both of these, not only allow the leaders to enhance the skills of leadership and capabilities, but also assist them to navigate the undeviating healthcare environment. Through the influence of this type of leadership, the leaders and their cohorts raise themselves to achieve new heights of development and success (Green et al., 2013). They are also capable of sustaining themselves in an enduring effort for defining and constructing meaning in their lives of work. This type of leadership approach not only enhances the performance and efficiency, but also leads to an optimistic variation in the lives of the members of organisation. The leaders having transformational leadership style achieve results of a superior quality because of their capability to encourage and transform the individuals from obedient followers into independent leaders who can prove themselves more than the expectations of the organisations. According to Huber (2013), the individuals who are in support of the principles of this type of leadership possess workforce having higher levels of encouragement, performance and satisfaction, as well as lesser levels of anxiety and burnout. These type of leaders also ensure that their teams are more collaborative, efficient and inventive, which can lead their organisations to respond rapidly and effectively to change. Additionally, these type of organisations posses effectual, improved and more caring cultures (Top et al., 2013). Several scholars have revealed similar outcomes in their inclusive research to explore the impact of engaging or transformational leadership style on the performance of the organizations. They discovered that culture of engaging or transformational leadership style extensively predicts augmented levels of satisfaction, motivation and commitment in staff members (Rigolosi, 2012). This coalesces with decreased anxiety and emotional exhaustion and enhanced productivity and effectiveness of the team. There exist a number of frameworks or models of transformational leadership that may prove beneficial to the healthcare professionals who are working in the healthcare sector. Among all of them, the one which is quickly gaining appreciation within the National Health Sector as well as other sectors is engaging leadership. The structure of this particular model is characterized by four clusters of dimensions: engaging the organisation, engaging the individuals, core values and personal qualit ies and moving forward together (Green et al., 2013). The importance of engaging leadership relies on enabling and serving others to display the style of leadership by their own. It is not about being an exceptional individual, but rather a fairly vulnerable, ordinary and humble- or at least exceedingly accessible, open and transparent individual. This approach towards leadership harmonizes the viewpoints of other scholars. The leaders having this leadership style possess a remarkable determination to get things completed; however possess a level of humbleness that differentiates them from the other leaders. They hardly ever converse regarding themselves and are more enthusiastic to talk regarding the organisation and the involvement and input of others (Numerato et al., 2012). This leadership style focuses on the significance of working in a team and underlines the advantages of collaboration that construct a culture in which conversation is open and encouragement of doing new things and developing new ways are listened, encouraged and really appreciated. It focuses that leadership exists in all the organizational levels, particularly as individual share a thought that drives them towards accomplishing goals of offering quality and safe healthcare services (Kumar, 2013). For the development of effective managers and leaders, healthcare organisations play a significant role. The healthcare organizations are dynamic and multifaceted. The environment of organisations needs that the managers and leaders provide leadership, coordination as well s supervision to the employees (Erskine et al., 2013). Organizations have been created for achieving the goals that are not easy for any single person. In the healthcare organisations, the extent and complexity of duties performed in the provision of services is so enormous that the individual employees working on their own could not complete the tasks assigned to them. Furthermore, the important tasks in generating services in the organisations of healthcare require the synchronization of several extremely specific disciplines that are supposed to work in association faultlessly (Top et al., 2013). The managers are required to ensure that the tasks of the organization are performed in the best possible ways in ord er to accomplish the goals of the organization and those suitable resources, counting financial as well as human resources, sufficient to provide support to the healthcare organization (Kelloway et al., 2012). The managers of healthcare are selected to positions of control or authority in which they construct the organisation of healthcare by making significant decisions (Huber, 2013). For instance, getting hold of technology, hiring and development of employees or staff members, addition and reduction of services together with the distribution and spending of monetary resources. The decisions that are made by the managers and leaders of healthcare not only lay stress to ensure that the patients receive the most apposite, well-timed and efficient services, but also concentrates on the attaining of targets of performance that are preferred by the managers and leaders. Eventually, the decisions made by the managers and leaders affect the overall performance of the healthcare organisation (Frankel PGCMS, 2016). The managers and leaders must keep in consideration the two domains as they make decisions and perform a variety of tasks. These domains are called as internal and external domains. T he external domain involves the activities, resources and influences that have an existence outside the organizational boundary but it considerably have an effect on the organisation (Swayne et al., 2012). These factors encompass the needs of the community, characteristics of the population, and compensations from the business insurers together with Medicaid and Medicare. The internal domain includes those focus areas which the managers and leaders need to tackle every day like ensuring the suitable number and types of members of staff, quality of care and financial performance (Grol et al., 2013). These areas reveal the organizational operations where the managers and leaders have the main control. Maintaining the dual viewpoint needs remarkable sense of balance on the major effort and part of the management in order to make high-quality decisions efficiently (Wang et al., 2012). In the end, it can be concluded that transformational leadership style and democratic management style are crucial for the success of a healthcare organization, as the professionals of healthcare are responsible for providing quality care and services to the patients. The best style of leadership with respect to a healthcare organization is Transformational leadership. The leaders who possess this type of leadership have the capability of changing their workforce from self-serving persons in the organization. These leaders possess a clear vision and have the ability to communicate effectively with all the employees. 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