Published on: 18 February 2019
Last Updated on: 08 August 2019
The ebb and flow of the markets provide many opportunities to make money. The goal is to consistently generate gains and limit your losses. There are several factors that affect trading decisions. New information, which could include economic data, or an earnings release will change the course of the markets. While there are a number of factors that will alter the price of an asset in the long term, the most common driver of short-term changes is sentiment.
Market Sentiment:
The price of security is based on supply and demand. At each price level, the market is attempting to determine if supply and demand are in balance. When supply and demand are at equilibrium, sentiment becomes neutral and prices trade sideways. Sentiment will determine how a market reacts to any given price level. Measuring sentiment is an important tool that can help you determine if prices are at equilibrium or not. Many investors measure sentiment using a technical indicator such as the relative strength index, but you can also use market psychology to determine how others feel about the future direction of a security or currency pair.
How to Measure Sentiment:
Sentiment analysis uses several factors. This could include economic events, political events, as well as changes to the price of a security. Sentiment includes both fundamental and technical issues and measures how the market feels toward a currency pair or commodity. One way that investors measure the fear in the US stock market is to evaluate the levels of the VIX volatility index. Any volatility index on a specific asset would measure the same market psychology. When the VIX rises, options traders are more concerned about large moves due to fear. When the VIX declines complacency sets in.
New Information:
There is a prevailing thought that all the available information is incorporated into the price of a security. Since the markets are efficient, any new information is immediately priced into security. New information usually changes the price but might not change whether security will trade into a different range. When prices move from one range to another, there is generally a shift in sentiment which could further induce the price to continue to trend.
New information is either expected or unexpected. Expected news can be priced in or not. For example, ahead of an economic release, economists will estimate the outcome. The average estimate is likely priced into every security. If the actual release is different from the expected release, the value of the security will change to reflect the new information. While the moves following expected news can be volatile, the fact that news is expected allows traders to be ready. Unexpected news can cause significant volatility. For example, if a war breaks out or currency is devalued, the reverberations can be extreme. When you trade the markets, you need to be aware that you are taking a risk, and you need to be aware of how to handle unexpected news if it arises.
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Business Succession planning is one of the important levels of strategic planning that gives you an opportunity to formulate a plan on how your business is expected to perform after your tenure in leadership.
Business Succession can make things more effective and wise in all aspects. Effective succession planning is highly advantageous as it gives you an opportunity to set in place mechanisms that ensure operational efficiency and transfer of leadership where necessary.
When undertaking succession planning, emphasis should be put on ensuring that every aspect of business leadership is handled as comprehensively as possible.
Whereas business owners understand the importance of performing succession planning, few put in place the necessary measures. Here are 7 key tips to consider when planning for smooth business succession.
Initiate the planning process early:
To be thorough and comprehensive in your succession planning, you need to ensure that you start planning as early as possible.
Whereas experts do not have a recommendation on the definite duration of time by when you should start succession planning before implementation, it is generally agreed upon that early planning gives you sufficient time to come up with a comprehensive plan.
Starting as early as 10 years before effecting the plan gives you sufficient time to ensure that everyone who is involved is sufficiently prepared to take over.
This also eliminates the rush that may set in in the event of a delayed succession planning process. Such delays may lead to unprecedented and unwanted hurried succession which puts the business’s future in jeopardy.
Nurture the prospected leaders:
When undertaking succession planning, especially in a family business, emphasis should be made on nurturing continuity in leadership. This ensures that once you leave as the top manager, your junior takes your place and steers the company forward. When performing succession planning, you should have that in mind and therefore focus on nurturing and developing the prospective leaders.
Leader development and nurturing should focus on, among other things, bringing the best out of the qualities you desire to see in them. This may be done in a gradual process such as delegating responsibilities and evaluating the prospected leader's ability to perform with the integrity and precision demanded for in a top business manager.
Have an open-minded approach:
To be thorough and effective in succession planning, you need to avoid bias as much as possible. In a family business or a business where leadership succession is hierarchical, maintaining an open mind can be quite hard, especially since the second in command is the most likely person to inherit your leadership. To avoid such bias, you should have an open mind in regards to potential candidates who can take over from you after you leave office.
When looking for an appropriate leader to take after you, you may want to give a thought of every potential candidate available within the business. This gives you an opportunity to extend your options as wide as possible. It also ensures that you don't miss potential employees whose skills, competencies, and experiences may come in handy in taking over from you.
Exposed potential candidates to training:
Training is quite crucial as it ensures that prospecting leaders within your business get an opportunity to advance their skills.
In this regard, leaders that you think are capable of leading your organization in one way or another should be appropriately identified and marked for progressive training and development.
Such training should be focused on anticipated areas within your business that are of importance for the employees to take over once you leave.
Succession training is also crucial and should be exposed to all workers who show an outstanding level of managerial skills. The well-trained workers get to be prepared for advanced leadership positions that may be created after you leave office.
In some cases, promoting your immediate deputy in the hierarchy leads to vacant positions down the business administration structure. The well-trained candidates, once promoted, would be able to fill those positions effectively.
Dry-run your plan:
When planning for a smooth succession in your business, it is highly advisable to ensure that you, on several occasions, do a dry run of your succession plan.
Dry running a succession plan gives you an opportunity to evaluate how potent your plan is in terms of meeting certain expectations. The dry running process does not have to be official and should be preferably done without informing the employees involved.
This can be done by momentarily leaving your office for official vacation or even other official duties for a considerable amount of time such as between a few weeks to a month. The duration of absence gives you an opportunity to test how suited your prospected leaders are in terms of filling the void created by your absence.
Do your final plan in writing:
After concluding and making adjustments on your succession plan for your business, you should endeavor to put the final plan in writing.
To be effective and thorough, you should consider engaging qualified, experienced, and reputable succession planning legal professionals such as Boss Lawyers in Australia.
The lawyers, in such a case, help you to prepare the necessary documents including succession policies, how the current generation of employees will hand over to future generations, as well as how to resolve any arising disputes thereof.
The exit strategy created from a legal perspective ensures that everyone within the business is bound while also creating a viable atmosphere for business continuity and harmony among the workers.
Make your wishes known:
Lastly, after every element of business succession planning has been conducted, it is crucial to bring everyone on board the plan to ensure that they are well aware of the strategic direction that the business is taking.
You should, preferably, convene a meeting with everyone in the business as well as your business’s key customers.
In the business meeting, you should outline what your wish is and reveal any other pertinent information that was not captured within the succession legal framework.
You may also use the platform to ensure that any questions or concerns that your workers may have are appropriately handled in a plenary session.
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What Are Casters?
Casters are familiar to most people, though you may not know what they are called. Casters are a small set of wheels, usually found on a desk chair or some other piece of furniture. However, they have a whole host of alternative uses. Are casters and wheels the same thing? Not exactly.
Why Do People Use Casters?
Casters are primarily used for one reason: They make things easier to move. Heavy pieces of furniture will often be placed on casters because it is difficult for one person to move. With a good set of casters, even the heaviest objects can be moved with relative ease. Casters are not just used for heavy items, but also for items that have to be moved frequently, like a table on a patio.
Are There Different Types Of Casters?
Yes, there are many different types of casters. This might seem surprising for such a simple device, but a caster isn't as simple as you may think. Most of you will be familiar with cheap plastic casters. As such, you probably know that it doesn't take a whole lot to break them. That's why they're cheap. However, there are casters out there that can hold thousands of pounds worth of weight. It's all a matter of design and materials.
All casters can be separated into one of two categories: Swivel or rigid. The names are pretty self-explanatory. A rigid caster will only roll in two directions, that being forward and backward. A swivel caster will pivot and roll in any direction. So, why would anyone use a rigid caster, you ask? Because they are usually stronger. In this case, it is a choice of durability vs. convenience. It is also important to know the difference between locking and non-locking casters. Locking casters can be held firmly in place by flipping a small lever. This is good for objects that require a little more stability, such as a cabinet that holds breakable objects. There are also specialty casters with all kinds of different features for specific purposes.
How Can I Use Casters In A DIY Project?
If you are building something that is likely to be moved on a regular basis, you might as well work that factor into the design by adding some casters. The first thing you need to do is figure out the approximate weight of the object that you are building. This will tell you how strong the casters will need to be.
If you don't want to put casters on all your furniture, but you still want to move it around easily, you can find a supplier of material handling and storage equipment such as a cart or dolly. A simple square of wood with casters on it can do wonders to make moving heavy objects much easier. I recommend covering the cart surface with carpeting so that it doesn't scuff the furniture or your walls.
If you have a large and heavy toolbox (as many of us do), you might consider putting some wheels on it. Naturally, these will need to be strong wheels. Don't go with plastic or aluminum for this job, as only steel will be reliable enough for the serious weight.
Since we are thinking along these lines, here is a shortlist of some household objects that might benefit from the addition of some casters.
Chairs
Toolboxes
Medical Equipment
Washer/Dryer
Backup generator
Beds
Shelves
Wrapping Up
Casters can improve the mobility of many different DIY projects you might have already completed, or plan to do in the future. This can make many heavy objects in your home or garage much easier to move. If you wanted to reorganize a space or clean underneath or behind heavy items, casters can turn this difficult task into a simple one.
Humanity's initial foray into metal use started with non-ferrous metals.
The adoption of bronze, an alloy blending copper and tin, marked the pivotal shift from the Stone Age to the Bronze Age circa 3200 BCE. Casting non-ferrous metals stands as a highly impactful industrial practice, shaping civilizations.
Over millennia, advancements have refined techniques and procedures, yet the foundational principles remain enduring, fostering ongoing innovation.
But, many people still don’t know much about the non-ferrous castings or how they usually work. And that’s what we will be discussing in this article. So, let’s get started with it.
Things to Know - 1: What is a Non-Ferrous Metal Casting?
Non-ferrous metals encompass a range of chemical compounds present on Earth, excluding pure iron. Contrary to pure metals, which are elemental, these non-ferrous metals consist of alloys, combinations of two or more metals fused together.
Crafting alloys involves a skillful blend of elements — often resulting in improved properties and advantages. Precision in alloy mixing can yield valuable and sought-after characteristics, making them a crucial part of modern metal usage.
Metals like aluminum, lead, tin, zinc, nickel, and copper are widely known.
Copper-based alloys without iron, like brass (a mix of copper and zinc) or bronze (a blend of copper and tin), are among them. Besides, precious metals like platinum, silver, and gold are classified as non-ferrous metals.
Things to Know - 2: Non-Ferrous Metal and Ancient History
Humans initially used non-ferrous metals for metallurgy, with copper, gold, and silver being particularly appealing due to their resistance to corrosion, unlike ferrous metals.
Copper, known as the initial metal manipulated into items during the 'Copper Age,' along with gold and silver, replaced wood and stone due to their malleability.
Their scarcity made them highly exclusive materials often reserved for luxurious goods. The introduction of bronze, achieved by blending copper with tin, marked the transition from the Copper Age to the Bronze Age.
Things to Know - 3: Material Diversity
Non-ferrous castings encompass an array of materials, including aluminum, copper, zinc, and magnesium alloys.
Each exhibits distinct characteristics — aluminum boasts lightweight strength, copper offers excellent conductivity, zinc facilitates die-casting, and magnesium showcases exceptional lightness. It allows for tailored solutions in various industries, from aerospace to automotive, enhancing efficiency and performance.
Things to Know - 4: Complex Casting Processes
The casting process for non-ferrous materials involves intricate methodologies.
Techniques like sand casting, investment casting, and die casting are prominent. Sand casting, a traditional method, involves pouring molten metal into a sand mold.
Conversely, investment casting uses wax patterns for intricate designs. Die casting, preferred for high-volume production, employs reusable molds for precise, rapid casting.
Things to Know - 5: Corrosion Resistance
One of the standout features of non-ferrous castings is their resistance to corrosion. Aluminum and its alloys form a protective oxide layer, rendering them resistant to rust.
Copper's inherent resistance to corrosion makes it a much preferred choice in plumbing and electrical applications, ensuring durability and longevity in various environments.
Things to Know - 6: Application in Diverse Industries
The adaptability of non-ferrous castings extends across numerous sectors. In the automotive industry, aluminum alloys enhance fuel efficiency due to their lightweight nature.
Copper alloys find extensive usage in electrical components, ensuring efficient conduction. Aerospace usually relies on magnesium alloys for their lightweight strength, enabling aircraft to achieve optimal performance.
Things to Know - 7: Sustainability and Recyclability
Non-ferrous materials align with sustainable practices due to their recyclability.
Aluminum, for instance, retains all of its properties even after recycling, making it a highly sought-after material for eco-conscious industries.
The recycling process consumes significantly less energy compared to primary production, contributing to reduced carbon emissions and resource conservation.
Things to Know - 8: Design Flexibility and Precision
The overall versatility of non-ferrous castings allows for intricate designs or precise detailing.
Investment casting can allow the creation of complex shapes with fine details, fulfilling the demands of industries like —
Jewelry making,
Aerospace, and
Medical equipment manufacturing.
This flexibility aids in achieving the desired functionality and aesthetics of the final product.
Things to Know - 9: Types of Non-Ferrous Alloys and Metals
I. Aluminum
Aluminum stands as one of the most abundant non-ferrous metals.
Its lightweight nature, excellent conductivity, corrosion resistance, and malleability render it indispensable across diverse sectors.
From aerospace components to beverage cans, aluminum's versatility knows no bounds. Its conductivity makes it ideal for electrical transmission lines and wiring.
Additionally, aluminum alloys, such as 6061 and 7075, offer enhanced strength, making them suitable for structural applications in aviation and automotive industries.
II. Zinc
Zinc, used as a coating to protect steel from corrosion, also finds application in die-casting processes to produce intricate shapes for automotive components and household fixtures.
Zinc alloys, like Zamak, offer improved mechanical properties and are commonly used in the manufacturing of various consumer goods and automotive parts.
III. Lead
Despite environmental concerns leading to reduced usage, lead still finds applications in certain industries due to its high density and corrosion resistance.
Historically used in piping, batteries, and radiation shielding, its usage has decreased due to health and environmental regulations.
IV. Copper
Copper, known for its great electrical and thermal conductivity, has been in use since ancient times. Its overall flexibility and malleability enable it to be shaped into wires for electrical applications and tubes for plumbing systems. Copper alloys, including brass (copper and zinc) and bronze (copper and tin), possess superior properties like —
Increased strength,
Corrosion resistance, and
Aesthetic appeal
These make them quite valuable in architectural designs, musical instruments, and marine applications. You can use them in various other aspects as well.
Conclusion
The non-ferrous castings embody a unique convergence of material science, manufacturing expertise, and application versatility. The myriad benefits—ranging from corrosion resistance to recyclability—underscore their pivotal role in modern industries.
Understanding these essential aspects empowers industries to leverage the unique properties of non-ferrous materials, fostering innovation, sustainability, and efficiency in manufacturing processes worldwide.
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