Performance Management Theory and Practice - Free Essay Example

Sample details Pages: 8 Words: 2475 Downloads: 1 Date added: 2017/06/26 Category Management Essay Type Narrative essay Level High school Did you like this example? Managing People Performance management theory and practice: successes and failures of implementing performance management systems Many companies seek to design and implement successful performance management systems, hoping to improve their overall performance countless fail whereas some outperform enormously. This paper critically evaluates available literature on performance management, revealing how it advantages companies. Outlining different performance management systems, I will then investigate reasons behind unsuccessful implementation and recommendations for future development of such systems. Performance management (PM) systems are put in place in order to ensure goals and targets are consistently met in an effective and efficient manner. PM is used to determine corporation standards, distribute rewards and also to assign and evaluate work (Armstrong; Baron, 1998). The purpose of PM is to à ¢Ã¢â€š ¬Ã…“improve organisational, team and individ ual performance and developmentà ¢Ã¢â€š ¬Ã‚  (McMahon, 2013). According to Thatcher (1996), performance management can be particularly useful for: reviewing and reflecting on past performance, improving current individual and company performance, setting objectives, determining bonuses, motivating staff and identifying training and development areas. Boswell and Boudreau (2000), outline that performance management can be approached differently according to its two main functions evaluative and developmental. Evaluative function takes place when managers use appraisals to aid them with decisions such as: salary, promotion, retention, recognition of individual performance as well as identification of poor performance. This function focuses primarily on differentiation between employees within the same company. On the other hand, developmental function of performance management is used to identify strengths and weaknesses of individuals, training requirements as well as providing feedback on past performance. This function relates to personal analysis of an employee, where the appraiser performs a role of a mentor (Brown et al. 2011). According to Baron (2004), both of the functions are important for effective performance management as à ¢Ã¢â€š ¬Ã…“individuals may demand a career where there is scope for development and progressionà ¢Ã¢â€š ¬Ã‚  whilst à ¢Ã¢â€š ¬Ã…“organisations need to ensure they have the right people in the right jobsà ¢Ã¢â€š ¬Ã‚  in order to compose an effective talent pool for the future (McMahon, 2013). According to McMahon (2013), effective performance management could be the most important feature of a successful organisation. It is also essential for businesses to recognise the potential in their human resources, in order to gain competitive advantage over their rivals. Campbell and Garfinkelà ¢Ã¢â€š ¬Ã¢â€ž ¢s (1996) study reveals that based on financial and non-financial measures, companies which have an effective per formance management strategy usually outperform those without such systems. Furthermore, research carried out by CIPD (2009) revealed that performance management systems can be used as a powerful tool for communication, particularly between managers and employees. Grund and Sliwa (2007) argue that from a practical perspective, the main and fundamental aim of enforcing performance management is to improve overall performance. According to Brown et al. (2011) improving performance can be achieved through implementing systems that will authentically motivate employees through goal-setting, constructive feedback, recognition and development. This therefore reveals that the key, often unspoken objective of all performance management systems should be to increase employeesà ¢Ã¢â€š ¬Ã¢â€ž ¢ motivation (McMahon, 2013) With relation to this theory, CIPDà ¢Ã¢â€š ¬Ã¢â€ž ¢s (2005) à ¢Ã¢â€š ¬Ã…“Performance Management Survey Reportà ¢Ã¢â€š ¬Ã‚  concluded that à ¢Ã¢â€š ¬Ã…“75 per cent of surveyed companies agreed that the practice motivated staffà ¢Ã¢â€š ¬Ã‚ . In addition to this, a study carried out by Rodgers and Hunter (1991) outlines that performance management can increase employeesà ¢Ã¢â€š ¬Ã¢â€ž ¢ goal achievement by around 30 per cent, whist businesses which implement performance management systems such as appraisals achieved an average productivity increase of over 56 per cent. Theories outlined above demonstrate that performance management can have a positive effect on the companyà ¢Ã¢â€š ¬Ã¢â€ž ¢s performance through increasing staff motivation and morale, encouraging staff through setting goals and highlighting areas of improvement as well as developing employeeà ¢Ã¢â€š ¬Ã¢â€ž ¢s skills to suit the companyà ¢Ã¢â€š ¬Ã¢â€ž ¢s goals, targets and corporate culture (Brown et al. 2011). This demonstrates that through effective PM, companies can benefit from full use of human resources potential (McMahon, 2013). So why do companies fail to effec tively implement and successfully use performance management systems to their advantage? Research carried out by CIPD (2009) revealed that à ¢Ã¢â€š ¬Ã…“only 20% of surveyed employees believe performance management has a positive impact on individual performance, with the majority (59%) remaining neutral on that subject and 21% disagreeing that performance management has a positive impact on individual performanceà ¢Ã¢â€š ¬Ã‚ . This demonstrates that although vast majority of companies use performance management systems (McMahon, 2013), successful implementation is not acconmplished as employees feel that the systems do not achieve its purpose. According to Armstrong and Baronà ¢Ã¢â€š ¬Ã¢â€ž ¢s (1998) study, performance management systems are disliked by employees and employers alike. McMahon (2013) points out that implementation of performance management systems makes employees feel like they are continuously observed which can have a contrasting effect to the main purpo se of PM. Stark (2007) argues that the biggest issue with performance management is that often employees are unaware of how they are performing against their overall business strategy. This demonstrates that in some cases, even though performance management can aid developmental function, it will not advantage the company in any other way. In addition to this Forbes (2013), also suggests that there are many other issues associated with implementation of performance management. For instance, systems such as appraisals should be regular and continuous in order to track progress and development, therefore once a year appraisal is often not good enough to achieve the purpose. In addition to this, once a year meeting does not give the managers enough information and empowerment to judge the employeeà ¢Ã¢â€š ¬Ã¢â€ž ¢s performance and areas of development. Appraisals are also used to identify individuals who underperform in their role à ¢Ã¢â€š ¬Ã¢â‚¬Å" such issues should be addressed immediately. This demonstrates that some performance management frameworks fail to achieve its purpose when not carried out regularly, as companies need to maintain alert and agile. Evidencing this point, Armstrong (2009) argues that in order to be effective, performance management systems should be a systematic process of development for individuals and teams, which will then lead to improving organisational performance. Subsequently, Redman and Wilkinson (2009) point out that appraisals schemes, which may have been useful during the past decade may not be applicable to any further extent. Following this observation, McMahon (2013) suggests that companies shift towards practices such as coaching, mentoring and 360-degree feedback. Armstrong (2009) argues that contrasting to standard appraisal systems, coaching and mentoring allows fast recognition of underperformance and also enables staff to adapt to on-going changes and to rise to the range of challenges posed by the industry they operate in. On the other hand, CIPD (2009) research reveals that distinguishing between performance management systems and choosing the right one for the company is not the main point of successful implementation. CIPD also outlines that over the years, companies will need to be able to redefine the purpose of PM systems to reflect changing values, needs and efforts to drive a performance culture. Furthermore, Bae (2006) argues that in order to achieve better organisational performance, chosen performance management systems need to involve three key elements: à ¢Ã¢â€š ¬Ã…“the setting, evaluation and feedback of performanceà ¢Ã¢â€š ¬Ã‚ . Bourne et al. (2003) also claims that there are general problems with all PM frameworks when vision and strategy is not actionable, strategy is not linked to the business, teams or individual goals and also when feedback is not constructive and tactical. Moreover, Redman and Wilkinson (2009) point out that performance management syste ms have to be carefully designed and adapted to cater for a companyà ¢Ã¢â€š ¬Ã¢â€ž ¢s characteristics and culture. This reveals that businesses will have to implement and transform a PM strategy, which best suits the companyà ¢Ã¢â€š ¬Ã¢â€ž ¢s goals and tactics whilst also making sure they overcome main pitfalls by implementing successful management of chosen strategies. Bourne et al. (2003), argues that it takes several years to obtain full benefit from performance management. This suggests that many companies may be implementing performance management systems successfully, however; they have not yet realised the full benefits. Armstrong (2009) outlines that failure to achieve effective performance management within a company can demonstrate general management incompetence. With relation to this, McMahon (2013) suggests that managers are often not trained properly to perform an efficient performance management activity, thus outlining that realising the potential, companies sho uld put pressure on effective use and delivery of PM systems. Davila and Elvira (2008) share McMahonà ¢Ã¢â€š ¬Ã¢â€ž ¢s view as they reveal that à ¢Ã¢â€š ¬Ã…“professional training programme is recognised as central to the attainment of a successful performance management systemà ¢Ã¢â€š ¬Ã‚ . Literature and vast research demonstrate that unsuccessful implementation of performance management systems can be caused by management incompetence and lack of training. This then also leads to the argument that unsuccessful implementation of performance management can have an opposing to its purpose negative effect on the companyà ¢Ã¢â€š ¬Ã¢â€ž ¢s performance if not implemented correctly (Bourne et al. 2003). According to CIPD (2009) poor performance management practises can in fact disengage and demotivate staff, foster unproductive activities and waste effort. Conversely to the theories outlined above, a contributor at Forbes Wakeman (2013), suggests that managers are not entir ely to blame for undesirable outcomes of performance management systems. In opposition, she suggests that employees should be held responsible for their own development. This can be achieved by initiating conversations about their objectives when they see fit, requesting regular feedback and making course adjustments as necessary to keep themselves on track. Wakeman (2013) argues that results of this approach will include employeesà ¢Ã¢â€š ¬Ã¢â€ž ¢ own reflection of their hard work in comparison to managersà ¢Ã¢â€š ¬Ã¢â€ž ¢ point of view on their skills and achievements, which can have a better effect on their performance. Similarly, Lawler (2013) argues that performance management systems need to be transformed in order to fulfil their purpose within current rapid-changing business environment. He outlines that it is critical for PM systems to start focusing on skills needed to be successful in the future also highlighting that bonuses and/or pay increases should be based on t he level of new skills acquisition. Furthermore, Lawler outlines that clear performance goals are a strong motivator and thus should be the major focus of effective performance management systems. More importantly, Lawler (2013) argues that employees should be awarded for taking a risk, even if sometimes the outcomes are not successful. Elaborating on Lawlerà ¢Ã¢â€š ¬Ã¢â€ž ¢s research, McMahon (2013) suggests that in order to ensure continuous learning and adapting to rapid-changing business environment, appraisals should be held every three months instead of once a year. With the implementation of Lawlerà ¢Ã¢â€š ¬Ã¢â€ž ¢s suggestions, this will ensure review and feedback on the skills gained since the last appraisal, setting current, clear goals as well as identifying and rewarding taking risks. Research concluded by CIPD (2009) revealed that performance management is to evolve over the next years to overcome the main problems and pitfalls. Furthermore, the research also ou tlined that performance management will grow to become more integrated with other business processes, such as career and talent management, individual and team development as well as curtail decision making. This may make it easier for businesses to effectively implement performance management systems to gain full advantage of human resources and therefore further benefit the company. On balance, literature analysed throughout this paper reveals that effective performance management contributes to the successful management of individuals and teams in order to achieve high levels of organisational performance. Realising the reasons behind failure of successful implementation of performance management, this paper also exposed ways of ensuring effective application and functioning of such systems, these include: choosing the right performance management system and adapting it to suit the companyà ¢Ã¢â€š ¬Ã¢â€ž ¢s goals and culture, making the process clear, concise and easily under stood by everyone involved, and finally ensuring everyone is able to understand how the outcomes will be used and the benefits for themselves and their organisation. Most importantly, literature analysed in this paper outlined that the major problem behind unsuccessful implementation of performance management systems can be general management incompetence and lack of feedback. Conversely, other sources outlined that current PM systems may be out-dated and thus suggest a shift towards self-appraisals and PM systems, which are more adapted to the rapid-changing business environment. All in all, this paper outlines that effective implementation of performance management systems contributes to achieving high levels of organisational performance and companies should seek ways to implement such systems successfully. Reference: Armstrong, M. (2009) Armstrongà ¢Ã¢â€š ¬Ã¢â€ž ¢s Handbook of Performance Management: An evidence-based guide to delivering high performance. London: Kogan Pa ge. Armstrong, M; Baron, A. (1998) Performance Management à ¢Ã¢â€š ¬Ã¢â‚¬Å" The New Realities. Institute of Personnel and Development: London. Bae, E. K. (2006) Major Elements and Issues in Performance Management System. Available from: https://0-files.eric.ed.gov.opac.msmc.edu/fulltext/ED492860.pdf . [Accessed 05 December 2014]. Bourne, M; Mills, J; Neely, A; Platts, K. (2003) Implementing performance measurement systems: a literature review. Journal of Business Performance Management. Volume 5( 1) pp.1-24. Bourne, M; Mills, J; Neely, A; Platts, K.(2003) Why some performance measurement initiatives fail: lessons from the change management literature. Journal of Business Performance Management. Volume 5 (2/3). Boswell, W; Boudreau, J. (2000) Employee satisfaction with performance appraisals and appraisers: The role of perceived appraisal use. Human Resource Development Quarterly. Volume: 11 (3) 283-299. Brown, D; Chubb, C; Reilly, P. (2011) Performance Management. Available from: https://www.employment-studies.co.uk/pdflibrary/mp90.pdf. [Accessed 26 November 2014]. Busi, M (2006) Collaborative performance management: present gaps and future research. International journal of productivity and performance management. Volume 55 (1) Campbell, R.B; Garfinkel, L.M. (1996) Performance Management Strategies for Success In: HRMagazine, No. 41-98. Centre for Business Performance: Cranfield School of Management. (2005). Performance Measurement and Management. Available from: https://www.ftms.edu.my/pdf/. [Accessed 28 November 2014]. CIPD. (2005) Performance Management Survey Report. Chartered Institute of Personnel and Development, London. CIPD. (2009). PERFORMANCE MANAGEMENT IN ACTION. Available from: https://www.cipd.co.uk/binaries/performance-management-in-action_2009-trends-practice.pdf . [Accessed 30 November 2014]. Compton, R; Nankervis, A. (2006) Performance management: Theory in practice? Asia Pacific Journal of Human Resource s. Volume: 44, (1) Davila, A. and Elvira, M.(2008) PERFORMANCE MANAGEMENT SYSTEMS: A Global Perspective. London and New York. Dundon, T; Wilkinson, A. (2013) Employee Participation. In: Redman, T; Wilkinson, A. (2013) Contemporary Human Resource Management: Text and Cases. Harlow: FT Prentice Hal Grund, C. and Sliwa, D. (2007) Individual and Job-Based Determinants of Performance Appraisal. Discussion Paper 3017, Institute for the Study of Labor (IZA), Bonn. Hunter, J; Rodgers, R. (1991) Impact of management by objectives on organisational productivity. Journal of Applied Psychology Monograph. Volume: 1(76) pp. 322-335. Lawler, E. (2013) Make Performance Appraisals Change Friendly. Available from: https://www.forbes.com/sites/edwardlawler/2013/07/29/make-performance-appraisals-change-friendly/. [Accessed 07 December 2014]. McMahon G (2013) Performance Management. In: Carbery, R; Cross, C (2013) Human Resource Management [online] Available from: https://arrow.dit.ie/ cgi/viewcontent.cgi?article=1013context=buschmanbk [Accessed 28 November 2014]. Redman, T. and Wilkinson, A. (2009) CONTEMPORARY HUMAN RESOURCE MANAGEMENT. Prentice Hall-Financial Times, Third Edition. Risher, H. (2011) Refocusing Performance Management for High Performance. Available from: https://www.uk.sagepub.com/wilton/Online readings/Chapter 7/Risher article.pdf. [Accessed 05 December 2014]. Stark, R. (2007) Performance Management. Available from: www.theiet.org/informationpro. [Accessed 26 November 2014]. Thatcher, M. (1996) Allowing everyone to have their say PEOPLE MANAGEMENT. Journal of the Chartered Institute of Personnel and Development. London. Waal, A. A. (2003) Behavioural factors important for the successful implementation and use of performance management systems. Journal of Management Decision. Volume 41 (8) Waldman, D. (1995) Designing Performance Management Systems for Total Quality Implementation. Journal of Organisational Change Management. V olume: 7 (2). Don’t waste time! Our writers will create an original "Performance Management Theory and Practice" essay for you Create order

Animal Advertising And Its Effects On The Marketing World

Tyler Faden Rough Draft Animals in Advertising Intro Advertisers have tried a variety of tactics to gain their viewers attention. One tactic that seems to have struck a chord in the marketing world is the use of animals. Additionally, most people find animals captivating and part of nature (1). As a result, this has become common practice to help increase sales, creating an affinity towards a brand with the use of animals. Brand identity however is not the only reason animals are used in marketing. The use of animals in advertising encompasses a multitude of psychological aspects including behavioral, neurological, and emotional components. Thus, this study examined the use of animals in current advertisements Psychological components:†¦show more content†¦Specifically, when violence or sex was included, the participants remembered more television commercials and had better recall of the product/service being advertised (5). Similar results were found when emotion was included in advertisements. That is, when emotion was used in the advertisement, consumers increased their buying behavior of the product/service (6). Introducing animals The main way animals are able to exhibit these traits is through the use of visual representation. Visual images help the viewer understand brand identity and helps increase the advertisements effectiveness in terms of sales. The effectiveness however of an image must become associated with a brand first for its effectiveness to become profound. Underwood and Schulz suggested that â€Å"paired-associative learning is the basis of the product-brand name link and must be acquired before it can be effective in advertising† (7). This pairing of brand and image is therefor the first step in creating a successful marketing campaign. Marketers hope that once this relationship has been forged, simply seeing the image will increase sales. Images may vary in their directness towards the product. They may be the main image or in the background. 1st Example: Spears and Germain viewed animals in advertising and their results revealed that animals were used to dictate the spirit of each decade. One example includes the time period between

Proposal Capital Gains Tax For New Zealand -Myassignmenthelp.Com

Question: Discuss About The Proposal Capital Gains Tax For New Zealand? Answer: Introducation The green economy policy would help in improving the quality of life for the person livings in New Zealanders by building the reputations as the producer of higher value. The clean products would help in sustaining the natural resources and the environment. The green party tax policies is in the direction of creating a fairer and more equal society with the help of strong and progressive system of taxation (Barrett, Veal, 2016). The ultimate objective of the green party is to increase the minimum wages and create an additional state houses. The tax policies of the New Zealand Green Party is to create a productive economy with the help of measures such as the capital gains tax. The green party has the plan of creating jobs that are in the direction of better environment and good for the people with the help of business incentives and direct government investment. The primary objective of the New Zealand Green Party is to reform the system of taxation in order to make sure that every individual would be able to pay less amount of tax with cleaner business environment (Kelsey, 2015). The policies are generally framed to reward the clean businesses and enable the polluters to pay more. All the sources of income under the New Zealand Green Party would be taxed in the similar manner and to ensure that the speculations would not be given any reward in comparison to the genuine creation of wealth. The New Zealand Green Party aims at introducing the tax free threshold limit at the bottom of the income tax scale at the initial stages and then simplifying or reducing the tax rates in the middle brands of the tax scale. The New Zealand Green Party makes sure that the beneficiaries gets the advantage of the proposed changes by passing the tax cuts on those that would benefit and adjusting the abatement rates. To treat all the income on the equal scale, the New Zealand Green Party have introduced the comprehensive capital gains tax on the inflation which is adjusted with the capital gains tax when capital gains is realised (James Maples, 2016). Additionally, the New Zealand Green Party tax policies also provides the family home with the exemptions from capital gains tax. New Zealand Green Party have paid equal considerations to eco-taxes as the policies created looks to empower the central and the regional government by introducing a water levy on the commercial use of the water that is used on the capacity basis (Fletcher, 2015). However, such levy would not be applicable to the households or stocks of drinking water. The tax policies have also begun a phased procedure of reforming the ecological tax by setting up the ecological tax reformation commission to assess the current taxes and probable new eco-taxes. The New Zealand Green Party tax policies would additionally consider levying taxes on the resources such as minerals, commercial catching of fees and numerous forms of pollution and waste. Cannon of Taxation: The cannon of taxation was initially introduced and presented by Adam Smith. The principles of cannon of taxation helps in defining numerous rules and regulations based on which the good system of taxation would be created (Rankin, 2016). Even though this cannon of taxation was bought into the light long time before however it is still used as the foundations of discussion on the principles of taxation. Adam smith has actually bought forward only four cannon of taxation that is commonly regarded as the Main Canons of Taxation or the Adam Smiths Cannon of Taxation. With the passing of time additional cannon were created to meet the needs of the modern world (Fahimnia et al., 2015). Considering the cannon of taxation in context of the New Zealand Green Party policy the key features that is stated in the tax policies are analysed to better understand whether the policies created are in accordance with the cannon of taxation. The first principle of cannon of taxation is deals with the cannon of equity. The term equality in the present context does not represent that every individual should pay the exact amount or the equal amount. However, the actual objective of this cannon is to make sure that the rich people must be paying more amount of tax than the poor people (Churchill, 2016). The reason behind this is that the amount of tax must be in accordance with the abilities of the taxpayer. The cannon of equity is regarded as one of the fundamental concepts to implement the social equity in the nation. The New Zealand Green Party has introduced a bill that promotes equal payment for all the women. The equal pay amendment bill has been passed by the New Zealand Green Party for lending support to the equal payment of tax for all the women. The New Zealand Green Party asserts that it is the time for the parliament to make the real changes for the women living in New Zealand to support the equal pay amendment bill for promoting transparency. This bill promotes cannon of equality as it would require all the employees to gather the information regarding the amount the men and women are required to pay (Hellwig McAllister, 2017). With the help of this bill it would become easier to locate where there would be discrimination. Ascertaining transparency around the pay would enable an easy way of making sure that the women get paid equally and this bill would make the cannon of equality a reality. In New Zealand women work hard each and every day and it is necessary to promote equality of pay. The cannon of certainty makes sure that the taxpayers must be well aware regarding the purpose, amount and the method of paying tax. The cannon of certainty makes sure that the taxpayer must be clear, simple and absolutely certain regarding the benefit of the taxpayer. There are more than 120 public electric vehicles with charging stations in New Zealand (Baker et al., 2016). The policies of Green Party already make up $10 million investment in supporting the development. In regard to the cannon of certainty the exemption provided to the public transport passes is long lasting. As a result of this there is a very little amount of cost that is associated with this and because of this the number of business that are presently providing free public transport will be certainly subjected to lower fringe benefit tax. The taxpayers know the exemption relating to the electric vehicles for a period of seven years. However, the cost varies based on the certainty of the policy implementations (James et al., 2015). An increase in one percent rate would ultimately lower the amount of tax revenue received by $4.77 million in the initial year. In the seventh and the final year of the policy implementation the taxpayer would be certain regarding the lowering of the amount of tax. The cannon of certainty assures that the taxpayer will be having the complete knowledge regarding the tax payment that includes the amount to be paid. Noteworthy of the fact it is understood that on non-presence of the cannon of certainty it might result in tax evasion. The cannon of convenience is regarded as another cannon of taxation suggested by Adam Smith. In the words of Dodson (2017), cannon of convenience is regarded as the extension of the cannon of certainty. The cannon of certainty ensures that the taxpayers must be aware regarding the amount, method and mode of paying the tax. The cannon of convenience defines that the method must be easy, convenient and should be friendly in nature. The Green Party promotes cannon of convenience by stating that the new plan of changing the work for families in the work tax credit. Such kind of changes helps in providing convenience to the taxpayers as this reduces the bottom tax rate from 10.5% to 9% for any individual that is earning the income of less than $14,000 (Barrett et al., 2015). On the other individuals that are earning greater than $150,000 yearly would experience a rise in their tax rate from 33% to the 40%. The cannon of convenience includes that there will be capital gains tax with initial amount of $10,000 earned on annual basis would remain tax free. To further promote convenience the top braced of tax is lowered to yearly income of $80,001 or more. In the direction of promoting convenience a there is an introduction on levy on water that is used for the commercial purpose as well. The green party ensures that the time and manner of the payment of tax should be convenient to suit the needs of the taxpayers in order to ensure that the individual taxpayer is better able to pay the taxes in the required amount of time (Barrett Veal, 2016). An important consideration in this regard is that the time and method of payment must be convenient, if the same is not created to suit the needs of the taxpayers then there could be a tax evasion and corruptions. To better promote the convenience, it is not unreasonable to begin introducing the lower amount of corporate tax for the resident organizations as this forms the way of identifying the profit of the companies that are owned in New Zealand and they are generally taxed in New Zealand. Given that the New Zealand owned organizations are taxed at the lower corporate rate tax this would provide the taxpayers with the convenience which can be reinvested in the local economy (Kelsey, 2015). Such kind of tax proposals would enable business to pay lower amount of corporate tax rate. The Green Party would provide business with the incentives in order to purchase the electric vehicle by ensuring that the electrical vehicles are exempted from the fringe benefit tax. Reduction in the cost of electric vehicles would ultimately help in incentivising the business of greater number of electric vehicles. In addition to this Clean Transport Fringe Benefit Exclusion would increase the demand for the electrical vehicles and their charging infrastructure (James Maples, 2016). Additionally, the cannon of economy better promoted by the Green Party with the help of second hand market for the electrical cars in the coming years which would ultimately help the business in replacing the fuel oriented car. The green party would additionally incentivise the business by providing their employees with the public transport passes to travel to and from work. The electrical cars is regarded as the important portion of the solution to the problems of pollution. Additionally, pollution from the transport makes around 20 percent of the New Zealands greenhouse gases release with road means of transportation causing around 90% of the pollution. On a regular basis the green party has bought forward the government must replace the fuel oriented cars with the electrical cars. Additionally, to promote the cannon of economy both the business and the government can change the fuel cars to the electric cars altogether (Fletcher, 2015). The green party promotes the cannon of economy as it believes that the national parks, rivers, beaches and wildlife forms the part of tourism. The levy on tourism with small amount of contribution paid by the international visitors would ultimately bring millions of dollars in the government fund to assist in protection of the environment for more number of generations. There must be any form of leakage in the process of collections. Green Party in this manner would ensure that a large number of collections would go in the direction of treasury. Therefore, such funds would be spent in the projects of government for the welfare of the environmental protection, country and the inhabitants (Rankin, 201 6). More specifically if the cannon of economy is not applied then the overall cost involved in the collection of taxation is unreasonably higher and the collected amount would become insufficient in promoting such plans. Depreciation Under Diminishing Method: Diminishing Value Depreciation Rate Opening Date Closing Date Original Cost Depreciation Rate Depreciation Claimed Adjusted Tax Value Grading Machinary 01-04-2017 08-02-2018 35000 13% 2452.54 22000 Fruit Press 01-04-2017 31-03-2018 8000 10% 718.02 7200 Dishwasher 01-04-2017 28-10-2017 2000 20% 184.10 1600 Crates 01-04-2017 31-03-2018 2200 40% 299.17 750 Cretes New 15-10-2017 31-03-2018 700 40% 128.10 700 Fridge 01-04-2017 30-11-2017 700 16% 37.28 350 Food Processor 15-06-2017 31-03-2018 325 13% 33.45 325 Computer 20-06-2017 31-03-2018 2000 50% 778.08 2000 Peelers 15-08-2017 31-03-2018 3160 13% 256.60 3160 Total 4887.39 38085 Depreciation Under Straight Line Method: Straight Line Depreciation Opening Date Closing Date Original Cost Depreciation Rate Depreciation Claimed Adjusted Tax Value Grading Machinary 01-04-2017 08-02-2018 35000 8.5% 1603.58 22000 Fruit Press 01-04-2017 31-03-2018 8000 7.0% 502.61 7200 Dishwasher 01-04-2017 28-10-2017 2000 13.5% 124.27 1600 Crates 01-04-2017 31-03-2018 2200 30.0% 224.38 750 Cretes New 15-10-2017 31-03-2018 700 40% 128.10 700 Fridge 01-04-2017 30-11-2017 700 10.5% 24.46 350 Food Processor 15-06-2017 31-03-2018 325 8.5% 21.87 325 Computer 20-06-2017 31-03-2018 2000 40.0% 622.46 2000 Peelers 15-08-2017 31-03-2018 3160 8.5% 167.78 3160 Total 3419.563493 38085 As evident from the above stated computations an assertion can be bought forward by stating that the depreciation that is computed provides that John and Maria can claim an allowable deduction under the diminishing value method. The diminishing value method provides that the computations of depreciation is derived by subtracting the constant amount of item under the adjusted tax value. The amount of depreciation charged is higher under the diminishing value method which would enable the taxpayer to claim higher amount of deductions and thereby reducing the tax liability. Reference List: Baker, T., Cook, I. R., McCann, E., Temenos, C., Ward, K. (2016). Policies on the move: The transatlantic travels of Tax Increment Financing.Annals of the American Association of Geographers,106(2), 459-469. Barrett, J. M., Veal, J. A. (2016). Tax Rationality, Politics, and Media Spin: A Case Study of the Failed Car Park TaxProposal. Barrett, P., Kurian, P., Wright, J. (2015). Environmental Security and the Contradictory Politics of New Zealands Climate Change Policies in the Pacific.Environmental Security in the Asia-Pacific, 157. Churchill, J. (2016). 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