GRE to GMAT Conversion How Does Your Score Compare

For more than 60 years, business schools have used Graduate Management Admissions Test (GMAT) scores to compare MBA applicants and decide who will be enrolled in their business programs and who will not. According to the Graduate Management Admissions Council, the organization that administers the GMAT, nine out of 10 global MBA students submit GMAT scores as part of the admissions process. But the GMAT is not the only standardized exam that MBA applicants can take. A growing number of schools are accepting Graduate Record Examination (GRE) scores in addition to GMAT scores. The GRE is commonly used by graduate schools to assess applicant readiness. Currently, there are more than 1,000 business schools around the world accepting GRE scores as part of the MBA admissions process. That number grows every year. Comparing GRE and GMAT Scores Although both admissions exams cover similar domains and utilize many of the same types of questions to assess test-takers, the GMAT and the GRE are scored on different scales. The GRE is scored on a 130-170 scale, and the GMAT is scored on a 200-800 scale. The difference in scoring means you cant make an apples-to-apples comparison between the scores. Sometimes, the best way to compare scaled scores from two different tests is by comparing the percentiles. But this isnt really possible with GMAT scores and GRE scores. The normed populations are different, which means you cant accurately convert and compare percentiles from the two tests. Another issue is the way the scores are used. Unlike the GMAT, the GRE does not provide a total score. The GRE test makers recommend keeping GRE Verbal Reasoning scores and GRE Quantitative Reasoning separate when making admissions decisions. The makers of the GMAT, on the other hand, recommend using the GMAT total score when making admissions decisions. Predicting GMAT Scores Based on GRE Scores Business schools are accustomed to making admissions decisions based on GMAT scores, and many of them prefer to use the context of the GMAT to interpret GRE scores. To make things as easy as possible for business schools, ETS, the makers of the GRE, created a GRE comparison tool that makes it quick and easy for business schools to predict an applicants GMAT score based on scores from the Verbal Reasoning and Quantitative Reasoning sections of the GRE. This makes it much easier for admissions reps to compare candidates who took the GRE with candidates who took the GMAT. The GRE comparison tool uses a multiple linear regression equation to predict total GMAT scores based on GRE General Test scores. The formula is as follows: GMAT Total score -2080.75 6.38*GRE Verbal Reasoning score 10.62*GRE Quantitative Reasoning score This tool also uses regression equations to predict GMAT Verbal and Quantitative scores from the GRE Verbal Reasoning and Quantitative Reasoning scores. The formulas are as follows: GMAT Verbal score -109.49 0.912*GRE Verbal Reasoning scoreGMAT Quantitative score -158.42 1.243*GRE Quantitative Reasoning score Using the GRE Comparison Tool You can use the formulas shown above to convert your GRE score into a GMAT score. However, the GRE comparison tool is the quickest, easiest way to convert your GRE score into a GMAT score. This tool is available on the ETS website and is free to use. You do not have to register on the site, create an account or provide your email address. To use the GRE comparison tool, youll need your GRE Verbal Reasoning score and your GRE Quantitative Reasoning score. Enter those two scores into the provided boxes in the online form. Youll then be provided with several predicted GMAT scores: a GMAT total score, a GMAT Verbal score, and a GMAT quantitative score. GRE and GMAT Comparison Charts You can find a lot of different charts online that can be used to convert and compare GRE and GMAT scores. These charts are easy to use, but they are not always entirely accurate. If a chart was the most appropriate way to convert the scores, the ETS would provide a simple chart. To get the most accurate conversion and comparison, you need to use the GRE comparison tool. And since this is the tool that business schools will be using to convert and compare scores, you can be confident in the accuracy of the tool. Youll be seeing the same predicted GMAT score that the business school sees when they review your application.

Ethical Leadership Decision-Making Process Class Notes...

SSD 3 – Module 1 Notes Mod 1 - Apply Ethical Leadership Decision Making Process: ï  ¶ 3 Perspectives: †¢ Virtues – Desirable Qualities – Courage, justice, compassion †¢ Principals – Authoritative – Army Values †¢ Consequences – greatest good, greatest number of people ï  ¶ Ethical reasoning – informal process – integral ï  ¶ Army Problem Solving: 1. Form of decision making. 2. Is a systematic approach to define a problem, develop possible solutions to solve the problem, arriving at the best solution, implementing the best solution. 3. Solve near-term problems, form the basis for long-term success. ï  ¶ Army Seven Step Problem Solving Model: 1. ID the problem – WWWWW 2. Gather information – Facts, Assumptions, Interest 3. Develop†¦show more content†¦Scheduled and id on annual training calendar b. Represents a snapshot of here and now c. Established beginning and conducting parameters d. Consideration of availability of unit personnel ï  ¶ Analyze the assessment cycle: 1. Survey/assess your command 2. ID key areas of concern 3. Agree to actions 4. Implement the plan 5. Reassess ï  ¶ There are 21 areas on the command climate survey. ï  ¶ Calculate the results of the survey: 1. Record the individual response 2. Record the number of responses 3. Add the numbers of responses 4. Divided the number ï  ¶ ID consideration of other (CO2) training: ï  ¶ 8 Key areas 1. Ethical development 2. American military heritage 3. Quality individual leadership 4. Team building 5. Equal opportunity 6. Gender issues 7. Family concerns 8. Health, safety, and drug alcohol abuse ï  ¶ Other training tools: 1. ECAS 2. UCP 3. TDS 4. GOQ 5. DEOCS Mod 1 – Full Spectrum Operations: ï  ¶ Effective training is the cornerstone of operational success. ï  ¶ 7 Training Principles: 1. Commander and other leaders are responsible for training. 2. NCOs train individuals, crews, and small teams. 3. Train as you will fight. 4. Train to standard. 5. Train to sustain. 6. Conduct multiechelon and concurrent training. 7. Train to develop agile leaders and organizations. ï  ¶ The foundations of army training are discipline, principles, and training support. 1. Discipline – good commanders and leadersShow MoreRelatedRoles And Responsibilities Of An Educational Leader1628 Words   |  7 Pagesinto the students. teachers, parents, administrators, students and community members must be in sequence when it comes to student achievement. The school holds PTO meetings, Faculty meetings, CFIP meetings and content are held in order to review the process for student achievement and to garner new ways of bringing about student achievement. The school and the community must band together in order to instill the values into their children. Raising money, tutoring outside of the school, parent involvementRead MoreEssay on Business Ethics and dilemma632 Words   |  3 PagesPrepare a 3- to 5-page paper titled,  Corporate Social Responsibility. 3. 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Complex and Dynamic Business World Free Essays

â€Å"The business world has become more complex and more dynamic. Planning tools are designed for stable environments. Therefore, planning should be abandoned. We will write a custom essay sample on Complex and Dynamic Business World or any similar topic only for you Order Now Please, comment on this statement. † 1035 Words 2 I. Introduction In today’s increasingly dynamic and complex business world, it is important to decide whether to use and trust in planning tools or if one should abandon them because they are made for more stable environments. This essay will give an overview of the planning tools and techniques that exist for assessing the environment. It will discuss the use of planning tools in a complex and dynamic business world. The statement that planning should be abandoned in a complex and dynamic business world will be discussed in the following. II. Main Body â€Å"A plan describes the chosen solution to a problem and lists what has to be done to achieve the goal† (Landau, 2012). We can categorize planning into three parts. During the first part goals have to be defined. In the second part the corresponding strategies have to be established. The third part focuses on finalising the plans. â€Å"Managers use planning tools and techniques to help their organizations be more efficient and effective. (Robbins Coulter, 2009) In a volatile and dynamic environment managers should not rely on planning. They should use planning as an indicator of what could potentially happen in the future and consequently try to restructure their organization in order to cope with market uncertainty. To do so, the managerial establishment has developed several techniques. One technique to assess the business environmen t is environmental scanning, which fundamentally consists of competitor intelligence and global scanning. Environmental scanning helps to foresee and decode changes in the environment via screening a lot of information. By applying this technique organizations are more likely to predict issues and concerns that could affect their current or planned activities right. Research results show that organizations that use this technique have a higher performance (according to Robbins Coulter, 2011, pp. 276f. ). One part of the environmental scanning is competitor intelligence. In this process organizations gather information concerning their competitors. The information will be compiled by asking questions about their competitors such as â€Å"Who are they? †, â€Å"What are they doing? and â€Å"How will what they are doing affect us? †. 3 â€Å"Competitor intelligence experts suggest that 80 percent of what managers need to know about competitors can be found out from their own employees, suppliers, and customers. † (Robbins Coulter, 2011, p. 277) Although this statistic indicates that collecting competitor intelligence can be achieved through the utilization of an organisationâ⠂¬â„¢s extended network, competitor intelligence can be seen as a problematic subject as it often features a fine line between ethical and unethical. Another part of environmental scanning is global scanning, which is important for organizations with global activities. In a complex and dynamic environment managers broaden their view to gather global information. â€Å"For instance, they can subscribe to information clipping services that review world newspapers and business periodicals and provide summaries of desired information (Robbins Coulter, 2011, p. 277). One can say that this technique is very suitable for an unstable and dynamic environment, because it helps to foresee the environment and consequentially helps to realign, if necessary, the organizational goals and plans. On the other hand, gathered information can be interpreted wrongly, which can trigger a chain-reaction from wrong forcasting to wrong goals and plans. A second technique to evaluate the environment is forecasting. Forecasting is a prediction of outcomes, which will help to identify events that will happen in the future. The common consent about this method is that is effective and time efficient. The ultimate goal of forecasting is to facilitate decision making through gathering information. There are two different forecasting techniques. One is quantitative forecasting, which is preferred when sufficient and hard data is given. It is based on historical data and tries to predict outcomes. The other one is qualitative forecasting, which uses personal judgment and knowledge to predict outcomes. This technique is used when hard data is limited or hard to gather. â€Å"First, it’s important to understand that forecasting techniques are most accurate when the environment is not rapidly changing. The more dynamic the environment, the more likely managers are to forecast ineffectively. † (Robbins Coulter, 2011, p. 79) 4 However, forecasting lacks the ability to effectively predict events like recessions or the actions of competitors. That leads to the assumption that organizations shouldn’t rely on a single forecasting method, but should use several models to be on the safer side. But the challenge for managers is to interpret and then implement the information into the planning decisions. Finally orga nizations must remember that forecasting, as a marginal skill, can be trained and improved. A third technique to assess the environment is benchmarking. Benchmarking is a tool to improve an organizations performance by adapting outstanding practices from the top organizations within the environment. Studies verify the statement, â€Å"that users have achieved 69 percent faster growth and 45 percent greater productivity† (Robbins Coulter, 2011, p. 279) when using benchmarking. Benchmarking can be seen as a four step approach. It starts with the forming of a benchmarking planning team. The second step continues with the gathering of information and external data. Thirdly, when all data is gathered the analysis to identify performance gaps takes place. The last step is the preparing and implementing of an action plan. (Based on Y. K. Shetty, â€Å"Aiming high: Competitive Benchmarking for Superior Performance,† Long Range Planning, February 1993, p. 42) Managers use benchmarking as a tool to approach the leading position of their competitors without overtaking them. And if all organizations work inefficiently it won’t be revealed. So this technique should not be followed in a dynamic environment, because it increases the likelihood that a manager will ‘copy’ the mistakes others make. So one can say â€Å"Plans serve as a road map, although the destination may change due to dynamic market conditions† (Robbins Coulter, 2009, p. 170). III. Conclusion To sum up, one can say that planning is very helpful and necessary but it can be misleading. No matter how many planning tools managers use, they can only plan effectively if they understand how planning in dynamic environment works. They have to keep in mind that planning should only be used as an indicator of what could potentially happen in the future. I believe that planning should not be abandoned, but improved. 5 IV. References Robbins Coulter, S. P. R. M. C. , (2009). ‘Planning’. In: Pearson International Edition (ed), Management. 10th ed. New Jersey: Pearson Education, Inc.. pp. (133-174). Robbins Coulter, S. P. R. M. C. , (2011). ‘Planning’. In: Pearson Global Edition (ed), Management. 11th ed. : Pearson Education, Inc.. pp. (204-276). Prof. Dr. Christian Landau, Principles of Management, 24. Sep. 2012 (Session 2), EBS Universitat fur Wirtschaft und Recht, Oestrich-Winkel How to cite Complex and Dynamic Business World, Papers Complex and Dynamic Business World Free Essays â€Å"The business world has become more complex and more dynamic. Planning tools are designed for stable environments. Therefore, planning should be abandoned. We will write a custom essay sample on Complex and Dynamic Business World or any similar topic only for you Order Now Please, comment on this statement. † 1035 Words 2 I. Introduction In today’s increasingly dynamic and complex business world, it is important to decide whether to use and trust in planning tools or if one should abandon them because they are made for more stable environments. This essay will give an overview of the planning tools and techniques that exist for assessing the environment. It will discuss the use of planning tools in a complex and dynamic business world. The statement that planning should be abandoned in a complex and dynamic business world will be discussed in the following. II. Main Body â€Å"A plan describes the chosen solution to a problem and lists what has to be done to achieve the goal† (Landau, 2012). We can categorize planning into three parts. During the first part goals have to be defined. In the second part the corresponding strategies have to be established. The third part focuses on finalising the plans. â€Å"Managers use planning tools and techniques to help their organizations be more efficient and effective. (Robbins Coulter, 2009) In a volatile and dynamic environment managers should not rely on planning. They should use planning as an indicator of what could potentially happen in the future and consequently try to restructure their organization in order to cope with market uncertainty. To do so, the managerial establishment has developed several techniques. One technique to assess the business environmen t is environmental scanning, which fundamentally consists of competitor intelligence and global scanning. Environmental scanning helps to foresee and decode changes in the environment via screening a lot of information. By applying this technique organizations are more likely to predict issues and concerns that could affect their current or planned activities right. Research results show that organizations that use this technique have a higher performance (according to Robbins Coulter, 2011, pp. 276f. ). One part of the environmental scanning is competitor intelligence. In this process organizations gather information concerning their competitors. The information will be compiled by asking questions about their competitors such as â€Å"Who are they? †, â€Å"What are they doing? and â€Å"How will what they are doing affect us? †. 3 â€Å"Competitor intelligence experts suggest that 80 percent of what managers need to know about competitors can be found out from their own employees, suppliers, and customers. † (Robbins Coulter, 2011, p. 277) Although this statistic indicates that collecting competitor intelligence can be achieved through the utilization of an organisationâ⠂¬â„¢s extended network, competitor intelligence can be seen as a problematic subject as it often features a fine line between ethical and unethical. Another part of environmental scanning is global scanning, which is important for organizations with global activities. In a complex and dynamic environment managers broaden their view to gather global information. â€Å"For instance, they can subscribe to information clipping services that review world newspapers and business periodicals and provide summaries of desired information (Robbins Coulter, 2011, p. 277). One can say that this technique is very suitable for an unstable and dynamic environment, because it helps to foresee the environment and consequentially helps to realign, if necessary, the organizational goals and plans. On the other hand, gathered information can be interpreted wrongly, which can trigger a chain-reaction from wrong forcasting to wrong goals and plans. A second technique to evaluate the environment is forecasting. Forecasting is a prediction of outcomes, which will help to identify events that will happen in the future. The common consent about this method is that is effective and time efficient. The ultimate goal of forecasting is to facilitate decision making through gathering information. There are two different forecasting techniques. One is quantitative forecasting, which is preferred when sufficient and hard data is given. It is based on historical data and tries to predict outcomes. The other one is qualitative forecasting, which uses personal judgment and knowledge to predict outcomes. This technique is used when hard data is limited or hard to gather. â€Å"First, it’s important to understand that forecasting techniques are most accurate when the environment is not rapidly changing. The more dynamic the environment, the more likely managers are to forecast ineffectively. † (Robbins Coulter, 2011, p. 79) 4 However, forecasting lacks the ability to effectively predict events like recessions or the actions of competitors. That leads to the assumption that organizations shouldn’t rely on a single forecasting method, but should use several models to be on the safer side. But the challenge for managers is to interpret and then implement the information into the planning decisions. Finally orga nizations must remember that forecasting, as a marginal skill, can be trained and improved. A third technique to assess the environment is benchmarking. Benchmarking is a tool to improve an organizations performance by adapting outstanding practices from the top organizations within the environment. Studies verify the statement, â€Å"that users have achieved 69 percent faster growth and 45 percent greater productivity† (Robbins Coulter, 2011, p. 279) when using benchmarking. Benchmarking can be seen as a four step approach. It starts with the forming of a benchmarking planning team. The second step continues with the gathering of information and external data. Thirdly, when all data is gathered the analysis to identify performance gaps takes place. The last step is the preparing and implementing of an action plan. (Based on Y. K. Shetty, â€Å"Aiming high: Competitive Benchmarking for Superior Performance,† Long Range Planning, February 1993, p. 42) Managers use benchmarking as a tool to approach the leading position of their competitors without overtaking them. And if all organizations work inefficiently it won’t be revealed. So this technique should not be followed in a dynamic environment, because it increases the likelihood that a manager will ‘copy’ the mistakes others make. So one can say â€Å"Plans serve as a road map, although the destination may change due to dynamic market conditions† (Robbins Coulter, 2009, p. 170). III. Conclusion To sum up, one can say that planning is very helpful and necessary but it can be misleading. No matter how many planning tools managers use, they can only plan effectively if they understand how planning in dynamic environment works. They have to keep in mind that planning should only be used as an indicator of what could potentially happen in the future. I believe that planning should not be abandoned, but improved. 5 IV. References Robbins Coulter, S. P. R. M. C. , (2009). ‘Planning’. In: Pearson International Edition (ed), Management. 10th ed. New Jersey: Pearson Education, Inc.. pp. (133-174). Robbins Coulter, S. P. R. M. C. , (2011). ‘Planning’. In: Pearson Global Edition (ed), Management. 11th ed. : Pearson Education, Inc.. pp. (204-276). Prof. Dr. Christian Landau, Principles of Management, 24. Sep. 2012 (Session 2), EBS Universitat fur Wirtschaft und Recht, Oestrich-Winkel How to cite Complex and Dynamic Business World, Essay examples

Demand and supply for eggs free essay sample

Introduction Demand and supply is one of the most essential fundamental concepts of economics and it controls the behavior of market economy. Purpose of assignment is to study the reasons for increase in price of egg over the period. Egg price at markets may be affected by many factors related to demand and supply. Article says that the main cause for the price increase attributed to increases in price of inputs, especially in feed prices. In order to elaborate the topic, economic models/concepts such as price elasticity of demand, income elasticity of demand and cross elasticity of demand are being used. These models will give a clear explanation about how the demand has changed in different situations. However, it is required to study all factors those are affecting to demand and supply in order to obtain a clear understanding about the market. 2. How the prices of egg get increase in the market? According to prices listed on the National Egg Coordination Committee (NECC) website, the wholesale rates of eggs have gone up by nearly 47% in the last five years. Egg prices could increase either due to increase in demand for eggs or decrease in supply of eggs. Following graphs will further explain effects on the price due to changes in demand and supply. As shown in figure 1 increase in demand from D-D1 leads to increase in the quantity and as well as the price and in figure 2 it shows decrease in supply from S-S1 leads to decrease the quantity and increase the prices of eggs. 3. Supply factors Supply means the quantity of a product that a producer is  willing and able to supply  onto the market  at a given price in a given period of time. According to the content of the article egg farmers find it difficult to supply their products at a lower price due to various reasons. Major reason for increase in price of egg is increasing price of feed. â€Å"The feed for hens mainly consists of maize, soya, sunflower, maize bran, fishmeal. Prices of those items have been rising by around 25 to 30% annually†. Due to this situation farmers will have to bare a high cost and therefore their profits are likely to go down at a higher rate. There may be other factors which have led to increase prices of eggs such as increase in overheads such as administration cost and losses for deaths of laying hens due to diseases like bird flu and also lack of protection from government for poultry products. In order to increase the supply and control the cost of production government can give subsidies to farmers and also remove taxes imposed on eggs and other products which affect prices of eggs. However, increased market price of eggs encourages new farmers to enter the market and supply will help to reduce the market price in the long run. Nevertheless some farmers may leave the industry for it does not generate more profits due to high production cost. We are getting at Rs 4. 50 per egg and we are selling it at Rs. 5.00 As egg is a primary product, therefor supply cannot be increased in a shorter period of time. Due to high cost on inputs new firms may be reluctant to enter the market. 4. Demand factors Demand  is the quantity of a good or service that consumers are  willing and able to buy  at a  given price in a given time period. Demand may change due to various reasons such as purchasing power, prices of substitutes, prices of complementary products, income level of peop le, changes in consumption patterns and taste, population factors and advertising by retailers. .Price elasticity of demand for eggs Price elasticity of demand measures the responsiveness of the quantity demanded of a good or service to a  change in its price. During the month of December demand is likely to be inelastic for eggs as it’s an essential ingredient in Christmas goodies from puddings to cakes. Demand is inelastic when the percentage change in quantity demanded is less than the percentage change in price. â€Å"Prices of eggs have seen an increase of 30% as compared to the rates prevalent during the month of December last year. † As mentioned in the article average wholesale price of 100 eggs was around Rs. 225. 27 in 2009 it has increased to Rs. 331. 80 at the end of the current year. Due to inelasticity of demand, suppliers are able to gain larger income by increasing prices of eggs. It is shown in the diagram below. However, this situation is likely to change during other months of the year. People may reduce the demand if the prices are too high and they will switch into other substitute goods such as fish, meat or imported eggs if their prices are lower than domestic eggs. Therefore eggs tend to have an elastic and inelastic demand during different seasons. .2 Income elasticity of demand Income elasticity of demand measures the responsiveness of quantity demanded to a change in income. Product like an egg tends to be a normal good as the demand does not increase due to the change in income. Consumers purchase this product only when it is necessary therefore YED is positive but less than one. Increasing prices during the month of December may affect the disposable income of consumers. .3 Cross elasticity of demand Cross elasticity of demand measures the responsiveness of the  demand  for a  good  to a change in the price of another good. With cross price elasticity we make an important distinction between substitute products and complementary goods. It is hard to identify close substitutes for eggs. Positive XED shows substitute goods. As substitutes we can show fish, meat and other types of eggs (goose, duck and bantam). Negative XED explains complementary products for eggs. There are many food products which eggs are used as an input.Eg:-cakes, puddings. Following shows a relationship between two complementary goods. It shows increase in the price of good Y leads to decrease in demand for good X. 5. Other factors lead to increase/decrease demand. Demand for eggs may change due to consumer taste. Due to health issues like cholesterol and issues like bird flu lead to reduce the demand for eggs. Rapid increase in population in India tends to increase demand and more low and middle incom e people tend to consume more eggs and therefore the demand for eggs increase. More over advertising by retailers persuade people to buy eggs without making them move into other substitute goods and these lead to increase/decrease demand for eggs. 6. Conclusion Taking into consideration all the above information we can identify that many factors are affecting the price of eggs. Some factors offset results of the other and mostly cost of feed had led to increase in cost of eggs. However, this could reduce by providing subsidies to farmers and other incentives in order to increase the output and reduce the cost.