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Sharing knowledge: Employees who share knowledge quickly and widely are much more effective than employees who don t know what s going on. The most effective teams make a point to share knowledge and to reap the benefits thereof. Fostering communication: As we mentioned, an organization s formal structures departments, divisions, and other organizational units often act as walls to communication rather than facilitators of communication. By including members from a variety of different organizational units, teams can break down these walls, fostering communication in the process. Achieving common goals: Because the members of teams would rather win than lose, they are automatically motivated to work together to achieve common goals. And when managers reward employees for teamwork over individual performance, this motivation becomes that much stronger.



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(10.169)

X = Cl X = N(CH3)2





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Cash equivalents (which, for short, we shall call cash ) include Treasury bills, short-term certi cates of deposit, money market mutual funds, and short-term investment funds (STIFs) investments that are usually thought of as riskless, in that their maturity is so short we can hardly lose any of our principal If we venture outside of US government securities, we may take some credit risk, but for our purposes here let s consider cash as riskless If cash is riskless, then we should expect that cash has the lowest expected long-term return and this has been true through the years Over the last 79 years, cash has barely returned 1 percentage point more than the in ation rate For certain intervals of years cash hasn t even returned the in ation rate, but over the 10 years 1995 2004 its return averaged some 11/2 percentage points higher than in ation.

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We might start our expectations with an estimate of the in ation rate going forward and then decide what increment over that in ation rate cash is likely to return And then ask ourselves: If over any long-term interval cash is likely to provide the lowest return, why should we target any portion of our portfolio to cash Well, cash is a great tool for market timing, but I feel safe in assuming we are not blessed with the gift of prescience Many investors keep a portion in cash so that whenever they must withdraw some money from their fund they can do so without having to sell a longer-term security at a possibly inopportune time Withdrawals, however, occur repeatedly over time Over the long term, a fund is undoubtedly better off keeping cash to zero and selling other securities whenever a withdrawal is needed selling just in time.

Sometimes, we ll sell at the bottom of the market and other times at the top But over the long term, we should be well ahead In any case, I favor a target allocation of 0% in cash3.

r2 = 0.102,

feature is important in the design of control systems since it means that the presence of an integration process in a closed loop control system will result in zero error in steady state (i.e. at zero frequency). Other conventions are used in frequency response jargon: doubling the frequency increases frequency by an octave ; a factor of 10 change in frequency is called a decade . Thus the slope of the line in Figure 2.13 is: 6 dB per octave or 20 dB per decade Let us summarize the effects of integrators in closed loop control systems: Since an integrator has in nite gain at zero frequency, a system with a single integrator in the loop will exhibit zero steady state error. (Note that the integrator may be designed in as part of the controller function or it may be an inherent feature of the process being controlled.) It can be shown that a system with two integrators in the loop will have zero error for inputs moving at constant velocity. Similarly, a system with three integrators will have zero error with a constant acceleration input command. With each integrator in the loop comes a quarter cycle delay at all frequencies. Two integrators would incur a half cycle delay around the loop equivalent to 180 degrees of phase lag. Therefore, even though the integration process has major bene ts to control systems by eliminating steady state and even dynamic errors, there are attendant stability issues that must be dealt with in the control system design process.

POP QUIZ!

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1. Open the report in Design view. 2. In the Detail section, select the EmployeeName field containing the employee s first and last names. 3. Open the property sheet for the Name field (see Figure 20.12).

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