Managing Financial Resources in Health and Social Care Essay

Managing Financial Resources in Health and Social Care - Essay Example The essay presents how various aspects of financial resources should be managed in health and social care. It is the responsibility of the management to ensurethat funding is available to meet the daily needs of the organization. In the cause of events, finance may be needed in order to invest in equipment stocks, pay employees, equipment and cater for sales made on credit. If not well taken care of, sources of finance may end up dry; this may make an institution to be in financial jeopardy. Financial control plays a critical role in helping the business meets its objectives.As a manager, my role is to ensure that all these are achieved. Financial shortfalls arise when an organization cannot pay its bills on time due to lack of cash. As a manager I have been oriented to be proactive about financial shortfalls while upholding an account for contingency all the time. Through review of BUPA’s cash flow for the last six months, the company is capable to determine the cash flow in terms of expenditure and income; this aids the company in reserving cash needed for purposes of expenditure for the subsequent six months. After realizing the company’s assets, the company has a well-planned schedule on how to pay its suppliers to avoid conflicts with respective suppliers. The company also encourages early payments from the customer by offering discounts on such payments; this increases the chances of early cash availability. Payment of suppliers on a scheduled basis helps the company to avoid shortfalls since suppliers get their due especially when the funds are available. Fraud is an obvious threat to organization’s resources and therefore must be a concern to all employers and employees within a specific jurisdiction (Petrucelli 2002). In the event of fraud, managers are expected to set good example by conforming fully to procedures and controls. As a manger, quick action is necessary to avoid any further loss bearing in mind that this is just an al legation and until the outcome of investigation is determined. Movement and preservation of evidence to a safe place or location is vital where practicable. Both internal auditor and director of finance are supposed to be notified. Prompt and vigorous investigation should be carried out; after that, report findings should be forwarded to both internal auditor and director of finance. If possible consult with the appropriate departments concerned or involved. Notification to security agents should be carried out by the manager following consultation with the executives of the BUPA at National Director Level. As some may put it, coming up with a budget may be easy, sticking to it is the hard part. A well planned budget has little no impact without willpower and close monitoring (Amey 1979). A system for recording expenses and producing reports should be in place. As a manger, insisting on regular monitoring reports is way of ensuring that whatever was projected in the budgets is follo wed to the latter. Through monitoring reports, it makes it easy to determine actual spending at a particular period of the month compared to what was projected in the budget. The level of expenditure should be documented and clear reports drawn from them; the concerned departments should be informed so as to get their input on the same. The audit committee should review the reports. After conclusion, there should be immediate action taken

Legal and Ethical Issues Term Paper Example | Topics and Well Written Essays - 1750 words

Legal and Ethical Issues - Term Paper Example The loan was granted to assist the company in meeting then financial requirements for constructing an additional manufacturing plant. The administration stopped the additional capital inflows the Solyndra a step that made them close down and more than a thousand employees lost jobs (Anderson, 2012). Production activities stopped, and the company had to explain what made them make such a decision. As the management explained, there was a persistent increase in the production cost while the prices of the solar panels were decreasing. These could not tally and, therefore, the company ended up making huge losses. The cause of the fall in prices of solar panels was that Chinese developers had come up with cheaper ones which served the purpose of the Solyndra’s. According to the Washington post (2011), â€Å"the foreign manufacturers were supplying cheaper solar panels due to government subsidies a move that made the market prices of the solar panels to decline forcing Solyndra to reduce their prices for it to remain competitive†. Another problem that was lightly disclosed that the company had delayed accounts receivables that they failed to collect in the correct time. The foreign competitors had better terms of sale since they used to extend their customers’ payment terms (Anderson, 2012). There was no compliance with the good terms in the side of the Solyndra’s customers. There was an attempt to get the company back to business where one of the shareholders provided $75 but that was in vain. The loan processing was made possible as a result of an energy law that was passed in 2005 to authorize the department to issue federal backed loans for innovative projects that helped in reducing air pollution. The study intends to evaluate the legal and moral issues that relate to the circumstance of Solyndra. Legal issues to be addressed included the involved the company finances, contracts, payment of private investors and laying down of

How To Improve Vacation Industry In Malaysia

How To Improve Vacation Industry In Malaysia This research paper is focus on tourism industry ecotourism in Malaysia. The objective of this paper is to report on an empirical research study which investigated how to improve or develop the industry tourism (ecotourism) in Malaysia? Besides improvements, the important for this research is to concern about the contribution of the tourism industry on the Malaysia GDP. To understanding the natural sources that we owned and generate it to develop our country. Findings were from the analysis of data such as internet, newspaper, government data and source that prepared by other people. A regression model was developed as evidence to this. The literature on this aspect is limited. Thus, the research findings of this study are useful for future studies. This study also provides several recommendations for future research in this area. Tourism is a relaxing activity for people to travel for recreational, leisure or business purposes. Based on the World Tourism Organization describe that tourists is people who travel to other places and stay in places outside their usual environment. According to World Travel and Tourism Council (WTTC), tourism has become one of the global largest industries nowadays. In other word mean that tourism has become a well-liked global leisure activity. In year 2009, Tourism industry has contributed 9.4% of world GDP into the economy, or equivalent of 5433.7 US billion dollars. There are a lot of people who traveling around the world time by time just to release tension or enjoy their lifetime or business purpose. Based on WTO, there were over 922 million international tourist arrivals in 2008, with a growth of 1.9% as compared to 2007. In 2008, international tourism receipts grew to US$944 billion (euro 642 billion), corresponding to an increase in real terms of 1.8%. Furthermore, real G DP growth is expected to growth in average 4.4% over the coming ten years. In the other hand, tourism economy has provided a total 235 million jobs in the worldwide. However, in the beginning of June 2008, international travel demand suffered a strong slowdown, with growth in international tourism arrivals worldwide falling to 2% during the boreal summer months. This negative trend become strong during 2009, worsen in some countries due to the outbreak of the H1N1 influenza virus, resulting in a worldwide decline of 4% in 2009 to 880 million international tourists arrivals, and an estimated 6% decline in international tourism receipts. The country that hit badly such as Mexico, experienced outbreaks of respiratory illness and enlarged reports of patients with influenza-like illness (ILI) in several areas of the country. Based on our tourism ministry Dr. Ng Yen Yen said that during that serious epidemic period, it unaffected our tourism sectors but further increase our tourist arrival. We can see that Malaysia is still attracting the tourist although there is happening the epidemic. This is also because our epidemic is still under control which me an our country less affected by H1N1, this caused to the people who favor on tour shift their planning to other more safety countries such as Malaysia. In Malaysia, travel and tourism industrys share of GDP has rise from 8.6%, worth RM8.02 billion in year 1988 to 14.1% of GDP, worth RM94.6 billion in years 2009. While travel and tourism direct industry (included transport, accommodations, food and beverages and etc.) has brought a total income of RM36.8 billions in year 2009, or 5.5% of GDP. Besides that, tourism has created a total job opportunities of 1395700, or equivalent of 12.7% of total employment. As we know that Malaysia is one of the country which held in the tropical area on the earth. Malaysia is an amazing country with immeasurable large quantity of biodiversity. It is not surprising to find that 75 percent of Malaysias land area is remains forested, with 60 percent virgin rainforest that unchanged for over millions years. The country is presented with numerous natural attractions such as amazing and diverse flora and fauna (refflesia, orang utan), white sandy beaches, exotic marine aqua life (Pulau Sipadan, Pulau Matak ing), dense rainforests(Taman Negara) and the oldest and largest caves in the world (Deer cave). To sharing of the mysteries in Malaysia, one of the twelve mega-biologically diverse countries in the world, which boasts at least 15,000 species of flowering plants, 286 species of mammals, 150,000 species of invertebrates, and 4,000 species of fishes in addition to the countless micro-organisms. Experience a huge range of outdoor activities, such as caving, hiking, jungle trekking, snorkeling, rock climbing, diving, river cruising and much more. Experienced outdoor professionals, who are well ready with the latest gear, can guide you through all of these activities. If you are looking for rich and exotic ecotourism experiences in balmy tropical weather, the time is now, the place is Malaysia. This made Malaysia owned the potential to develop the ecotourism to growth up the economy furthermore can introduce Malaysia to other countries. To let others learn more about the natural better than keep reliance in the industrial sector to boost up the GDP. The widespread interest in ecotourism among tourism players is due to its direct linkage to the greater prospects for sound and sustainable tourism development with strong possibilities for appropriate local participation and shared responsibility for preserving the environment, cultural heritage and peoples way of life. It is needed everyone to responsibility to protect our natural environment well. Research Problem As we know that Malaysia is a tropical forest country that rich with the natural sources flora and fauna, white sandy beaches, exotic marine aqua life, dense rainforest and the oldest and largest caves in the world. Therefore we should introduce it to foreign country so that it can attract the foreign tourist to our country. But the problem is does it really known by other countries? What should we do to improve our natural sources to attract the tourist? What are the factors that influence the total number of tourist to Malaysia? Besides, how we going to develop it, so that it can more known by other counties tourists? However it is needed a sustainable develop to prevent it get harm to the biodiversity. And since we know that when there is a lot of tourist to our country sure it will generate capital flow into our country and increase our GDP. Therefore it is needed to understand the potential and how to attract tourists to generate our country income. Research Question What did the government do to develop the tourism industry? Does it have the potential to attract the foreign tourists? How to improve our ecotourism facilities and services? What are the strategies to attract more tourists to visit Malaysia? Research Objective To realize the important of tourism industry. To analyze the potential of tropical country that rich with immeasurable large quantity of biodiversity. To examine what initiative will be taken by the government. To analyze the contribution of tourism in our GDP. Literature Review http://www.apo-tokyo.org/gp/e_publi/gplinkeco/17chapter15.pdf Mohammed Mohd. Daud, (n.d.) with his conference article The Ecotourism Develop In Malaysia mention that the services sector including the tourism industry, is the major revenue as well as the largest contributor to Malaysias Gross Domestic Product (GDP) at 46% in 1999. He specified that the tourism is a growing sector and gaining importance in the Malaysian economy. Besides, due to the existing legal requirements and the economic development strategy, the promotion of tourism and ecotourism activities in Malaysia involves a number of institutions and also including the statutory body Tourism Malaysia to involve in marketing and promoting tourism product. Considering that the ecotourism objective such as the National Parks and wildlife sanctuaries are often located in distant places, but the government would provide basic infrastructure facilities such as roads, jetties and some amenities. Furthermore, the government is also supporting ecotourism development by means of sponsoring th e cost of technical consultancy work on particular ecotourism destinations. For case study in this article mention that although the Kinabatangan Wildlife Safari has not matured yet in developing, it is already showing its potential in becoming a successful ecotourism destination where preservation of natural resources with sustainable development. It involves all parties such as the government, private sector, local communities and NGOs work together in a partnership to protect the priceless natural asset by translating business opportunities into maintenance benefits. The purpose of this study is to calculate tourisms contribution through deriving multipliers in terms of output, income, employment, value added, and import for Malaysian economy. Based on this study, they found that, tourism sector have been generated employment which is 174 full-time employee for every Ringgit of tourist expenditure. According to researcher, entertainment sector is most important sector that generated tourism income followed by accommodation and food beverages. Malaysian tourism industry not only playing an important role for generating output, income, employment, value-added, and import but also creates spillover effects on other tourism related sectors of the economy. However, based on the analysis of this paper, it is obvious that tourism industry is contributing significantly to the Malaysian economy in terms of generating output, income, employment, and value-added. http://www.google.com.my/#hl=ensource=hpbiw=1189bih=544q=DEVELOPMENT+OF+ECO-TOURISM+IN+TRIBAL+REGIONS+OF+ORISSA%3A+POTENTIAL+AND+RECOMMENDATIONSrlz=1R2PPSU_enMY368aq=faqi=aql=oq=gs_rfai=fp=42cdcfe0f1684f63 Based on the Nilakantha Panigrahi research paper DEVELOPMENT OF ECO-TOURISM IN TRIBAL REGIONS OF ORISSA: POTENTIAL AND RECOMMENDATIONS had mention about the wealth in being tourism of the Orissa region in eastern India. He said that with the well develop in the ecotourism will generate some income for the state. Tourism is identifying as an industry in Orissa in generate the income from the foreign tourists because that place seem to have different type of attractive onwards the tourists especially the countless temples of Orissa scattered at the state. The attractiveness is that the state owned 79 heritage sites in Orissa which protected by Archaeological Survey of India. Western Orissa is known by a small temple town, besides particularly of the western Orissa have the streams and forests which show the natural beauty of Harisankar in Bolangir and Nrusinghanath in Balangir. Furthermore, Kalahandi area is endowed with the wealth of forests, for example existence of a rare species of black tiger, with a natural waterfall at Rabandar, and a host of temples situated at the hilltops of Bhawanipatna. Nevertheless, the concept of museum is also being established by government for collected and displaying those artifacts by following the types of it. The record from 1990 until 1998 with the attraction of tourists is 86.58% in domestic and 11.50% for foreign tourists. This can be proved that the well known of domestic people and unrealized in the potential of the place as being a tourism destination for foreign tourists because of poor developing that place. However the tourist arrival show that the increasing trend from 1990 until 1997 but dropping in 1997-1999 due to the Asian financial crisis and then increase again in 1999 to 2000. Due to the Orissa heritage place, natural environment with flora and fauna it can be the successful destination for tourists. The reason that it cannot attract more is because of poor developing by government as a tourism destination from an ecological and cultural point of view. http://www.uea.ac.uk/env/cserge/pub/wp/gec/gec_1995_30.pdf. From the TOURISM AND SUSTAINABILITY IN ENVIRONMENTALLY FRAGILE AREAS: CASE STUDIES FROM THE MALDIVES AND NEPAL research by Katrina Brown,R. Kerry Turner, Hala Hameed and Ian Bateman had said that Maldives and Nepal is a country which enrich with natural resources such as reefs, beaches, and mountains especially the most highest mountain in the world Everest are attract many tourists to there. The amount of trekkers to Nepalese Himalaya grew by 25 percent per annum over the period 1985-1988. Furthermore, Maldives tourism visitors have increased from a total of less than 1000 per annum in 1972 to 178,000 in 1991. As we can see that the amount of tourist is increasing lead by globalization. It makes people able to move across to other countries. In analyzing the Maldives in 1991, total of tourists had increase to over 178,000 tourists. The annual rate is exceeds 30 percent for this period and this show that it stand at over 1.7 million. The total receipts are achieving 94 million in 19 91 if compare to 1981 is just 15 million. However for Nepal, the data said that is just only 6179 tourists in 1962 but it change to a huge amount in almost 300,000 in 1991. This can show that the attracting to Nepal is increasing rapidly and with majority tourists came for the nature. This can be see that the successfulness of the ecotourism such as mountain or jungle trekking, jungle safaris, river rafting or ethnic tourism in Nepal. Both study also show that more tourists were came toward their country by enjoying the nature environment. Research Hypothesis By referring to the literature reviews mentioned, we are able to form 2 hypotheses that measure the growth of tourism sector that accelerated the industrialization process. The first hypothesis model formed state that the contribution of tourism sector towards the Gross Domestic Product (GDP) is influence by the foreign and domestic tourists and the number of projects approved by tourism department. Hence, the function below is formed:. GDP = f (tourists) However, the second hypothesis model formed state that the contribution of tourists towards the tourism is influence by the number of projects approved by tourism department. Hence, the function below is formed: Tourism = f (tourism department) Methodology There are a few methods which can be used in order to search and gather the information that we needed such as by gathering the information from the internet. But mostly all data are collected through the secondary data. Based on my title which focuses on the ecotourism, I am referring to the news article which published by The Star, beside we were gone through the government website to get the current news to get the tourism issues, activities, government gazette and also the government statistical data. Those articles that related with my topic in internet also can be using as reference especially those research paper done passed researcher. Furthermore we compare country between countries in tourism performance. Analysis Income contribution http://www.tourism.gov.my/corporate/research.asp?page=facts_figures As we can see that the tourists arrival to Malaysia has increase year by year. We know that 1997 is happened Asian financial crisis the following is 2008-2009 global financial crises with epidemic of H1N1 together. However it does not give much impact on our tourism but further increase our percentage of tourists arrival. If we compare the amount of tourist in year 1998 with 5.5 million and 2009 with 23.6 million it is already 4.3 times than amount in 1998. http://www.wttc.org/eng/tourism_research/economic_data_search_tool The line graph indicates that the contribution of GDP by travel and tourism industry. From the graph, we can see that the avenue of travel and tourism industry has been increase over the year. Travel tourism industry has recorded an amount of RM10.67 billion in year 1988. While in year 2008, according to world tourism council, Malaysia has recorded an amount of RM99.16 billion in year 2009, which is almost 10 times larger compared to 20 years ago. It indicates that the travel and tourism industry has been growing and believed to have the potential to keep expanding. While the table shows the year to year growth of travel and tourism industry, and also the share of travel and tourism industry in Malaysias GDP. From the table above, we can know that at most of the years, the avenue of travel and tourism industry is increasing. While some of the year it may achieve negative grow due to incidents such as economic crisis, global diseases, and etc. The grow rate of travel and tourism industry is between -6.98 percent to 35.01 percent. From the view of share of GDP, travel and tourism industry has recorded 13.4 percent in year 2008, which considered a major part of total GDP. It places tourism as one of the largest industries in Malaysia, and the second largest earner of foreign exchange, following manufacturing industry. http://www.yoursurgeryabroad.com/news/tourism-up-in-malaysia/ Due to the data, show that there is significant drop in year 1997 which caused by the Asian Financial crisis. Beside in year 2003, the tourism sector also decrease which caused by the SARS. The period for SARS epidemic is between the months of November 2002 and July 2003, and the epidemic is start spreading from Guangdong, China. However this gets effect in our tourism because this epidemic is serious happened in Asian region. If we compare with another epidemic (H1N1) which happened in 2009, this epidemic is start spreading from Mexico. But this epidemic is still make our tourism in well performing based on the news reported on Thursday, 23 July 2009, our Tourism Minister Datuk Seri Dr Ng Yen Yen announced that tourism to Malaysia grew by 7.5% in June after a small 0.3% decline in May. The increase in tourism came despite an increase in confirmed H1N1 cases in the country. The decreasing show in 2008 is affect by the global financial crisis. Global financial crisis is a crisis cause d by a liquidity shortfall in the United States banking system. It has shown in the collapse of large financial institutions, the bailout of banks by national governments, and downturns in stock markets around the world. Is because of the global financial crisis it does give effect on our industries such as tourism industries. The expanding of travel and tourism industry is possible due to the increasing arriving and recipients of tourists from various countries. The policies that promoting Malaysia to the eye of the world in travel and tourism industry has seen to be quite successful. Various program such as Visit Malysia, Malaysia Shopping Carnivals and etc have been introduced and these programs have been able to attract more tourists come to our country.In addition, the increase in standard of living in Malaysia is also a major factor that stimulate the travel and tourism industry. Increase of income of Malaysia residents has increase of domestic demand in travel and tourism industry. Employment contribution http://www.epu.gov.my/html/themes/epu/images/common/pdf/rmk/rmk2/rancangan%20malaysia%20kedua%20-%20chapter%2011.pdf http://www.epu.gov.my/html/themes/epu/images/common/pdf/buku%20rm%20ke%207%20-%20chapter%2016.pdf http://www.epu.gov.my/html/themes/epu/images/common/pdf/8th_msia_plan_c15_cont.pdf Based on the data above, we can see that during the period between 1960 until 1970, the employment is significant show that tourism is just contribute a little on economy only. For year 1965 is only contributed 287000 for employment (employment in hotel is 2700 in 1965), however for year 1970 it is slightly increase to become 340000 of employment (employment in hotel is reached 8000 in 1970) which contributed by the tourism. Furthermore, year 1975 tourism is only contributing 419000 employments. If we look seriously beginning from 1990, the employment is contribute a lot by the tourism in hotel industries, however hotel industries is just one of the part from the contribution of tourism, we can see clearly that it is quite potential in develop it. Based on the data show that the there is an increasing trend on employment which generate by the increasing in number of hotel, it can be show beginning from 1990 which is generated 39961 employments by 989 hotels, 1995 generated 67214 empl oyments by 1220 hotels, 2000 generated 78671 employments by 1492 hotels and for year 2005 it generated 79603 employments by 1541 hotels. The opportunities in employment contributed by tourism are determined to achieve 1217000 thereby contributing 11.6% of total employment in year 2007. And the contribution of the Travel Tourism economy to employment is 1,331,000 jobs in 2010 (Quarter 2). http://www.wttc.org/eng/tourism_research/economic_data_search_tool The table shows the total employment in travel and tourism industry. In year 1989, the total employment in travel and tourism industry recorded an amount of 514700, which in 8 % of total labor. From the table well able to know that the total employment in travel and tourism industry has been increasing in most of the year, meanwhile the growth rate is between -14.9 percent to 21.94%. In year 2008, travel and tourism industry has achieved a total employment of 1249800 employees, which is 11.6% from the whole labor market. This indicates that the travel and tourism industry has contributed much in the labor market and has play a major role in labor market. www.motour.gov.my/bm//166-national-ecotourism-planpart-3.html Contribution in development The tourism can lead to develop in some area especially those rural, develop the rural area is good in helping our country economy, it can generate income and employment to the rural area people. For example: Based on the National Ecotourism Plan Malaysia, Pahang has implement national tourism development policies at state level. Pahang have such place can develop well to be a tourists attraction place such as in coasts area Pulau Tioman is Pahang main island resource, this is needed to plan further on the development within the carrying the capacity for each sector of activity. However for mountain in Pahang, with the highest mountain in Peninsular Malaysia is Gunung Tahan. Besides, there is also a Frasers Hill which is a main nature site with bungalows. Beside in lowland, there is Taman Negara which is a place that reserve with the flora and fauna. But there is also needed government in develop it to become a tourism place. This is the table show the development of component and cost in developing the Frasers Hill. For Terengganu, it does not have its own separate state tourism policies but it implement national policies. The potential nature place for Terengganu to develop to attract tourists is Rantau Abang at coasts side and island which is Pulau Redang, Pulau Perhentian, Lang Tengah, and also some mountain which attract some trekker to there. This is the table show the development of component and cost in developing the Rantau Abang This is the table show the development of component and cost in developing the Pulau Redang. And for Sabah, it is rich in nature which can enrich to introduce it to foreign country, such as Mountain Kinabalu is one of most attraction in Sabah it mostly attract the tourists from Taiwan, Japan come over there. Beside it also have the popular island which name Pulau Sipadan which listed as the first best diving in world. This can be show that the potential in Sabah. This is the table show the development of component and cost in developing the Kinabalu Park area. All this is just a part of the potential area which shows in few states only, as we can see those areas is a potential place to develop to attracting the tourists. Those places are suitable to develop as tourism place since it is potential and rich in nature. Furthermore, by the way we develop the area to attract the tourists, first we have to develop the area which potential to be tourism, and through this development it is already develop our country. Developing our country is not only to attract the tourists but it also can strengthen our economy. Contribution in SME ( Small Medium Entrepreneur ) Government action By the way it is needed for government action in supporting the tourism sector, without government implementation of policy or action in develop the tourism it is impossible for the tourism sector to growth itself. To attract more foreign tourists, government is needed to create some policy to strengthening the tourism, furthermore the government spending is also important so that the project that government planning can be successful to achieve. Besides, government activities in promoting the tourism or campaign is also helpful in introduce it to tourists and knowing by foreign country. There is some action by the government in above such as: Campaign VISIT MALAYSIA YEAR 2007 Tourism industry of Malaysia. Retrieved on October 12,2010 from http://www.thefinancialexpress-bd.com/2007/08/31/9636.html Malaysias focus will be on the Visit Malaysia Year (VMY) 2007, it was focus aggressively promoting Malaysia, by the way encourage the foreign tourists arrival it also encourage domestic tourists. Coincidently, year 2007 is also the 50th anniversary of Malaysia Independence Day. As such, the Visit Malaysia Year campaign is a good time event to celebrate Malaysias golden festival. It is a good time to celebrate and to share with the world the unique and virtues that built up Malaysia to be the country until today. The VMY 2007 campaign is anticipated to raise the attraction of foreign tourists to facilitate them in planning their holidays in Malaysia. For the VMY 2007, it is set a target to attract amount of 20.1 million tourists come over our country. There are over 240 events in the year, of which, 50 being major events and 5 as international mega events. All these events is meaningful to presented in `One Golden Celebration`. This celebration will bring Malaysia to recognize by the world. The Visit Malaysia Year Grand Launch on 6 January by the Prime Minister of Malaysia is the first event of the year in the presence 500 international media and trade representatives from all over the world. Draw attention to the Grand Launch was the unveiling of the Eye on Malaysia, which is a 60-metre Ferris Wheel followed by the Flora Fest Parade, and also a fantastic display of floats dressed in all kinds of flowers found in Malaysia. The other mega events include the Malaysian International Aerospace Adventure, the International Fireworks Display, the Malaysian International Tattoo and the KL International Buskers Festival. Malaysia My Second Home Programme Malaysia My Second Home Programme .Retrieved on October 12, 2010 from http://www.mm2h.gov.my/ Beside, Malaysia government also promoted Malaysia My Second Home Programme is to allow foreigners who fulfill certain criteria, to stay in Malaysia for as long as possible on a multiple-entry social visit pass. The Social Visit Pass is renewable and is originally for a period of ten years. It is a chance for citizens of countries recognized by Malaysia, regardless of race, religion, gender or age. The programme allows applicants to bring with them their spouses, parents and children. For those foreign spouses of Malaysians after expiry of their Employment Passes who wish to retire in Malaysia are also qualified to apply to stay in Malaysia under this programme. Promotion Policy Government spending http://thestar.com.my/news/story.asp?file=/2009/10/24/budget2010/4968158sec=budget2010. October 12 Based on the news from The Star on Saturday October 24, 2009 reported that by the way of aggressive and innovative measures to attract FDI, our country government will spending RM899mil in 2010 for the tourism industry. The Main planned to be implemented is including attracting more tourists from Britain, Japan, South Korea, Middle East, India and China to participate in the Malaysia My Second Home programme. However, attraction will be successful by upgrading the quality of infrastructure in tourism centers throughout the country, this is the most important such as ecotourism development and upgrading homestay facilities; and ensuring front liners are locals. Taxation Incentives for Investment. Retrieved on October 12, 2010 from http://www.mida.gov.my/en_v2/index.php?page=tourism-industry There are many incentives that government gives to tourism investors either old or new investors. The investor included such as hotel, travel agency, transportation and etc. There are some incentives from government to these investors. Generally, a company granted Pioneer Status will enjoys a 5-year partial exemption from the payment of income tax. It will only need to pay tax on 30% of its statutory income. In order to promote some area, government will consider giving full income tax exemption and/or increased exemption tax until 10 years. In addition, there are some exemption for Sabah and Sarawak. The companies located there will only need to pay 15%of their statutory income in 5 years. Besides, company also can get the Investment Tax Allowance (ITA). A company granted will be given allowance of 60% in respect of qualifying and offset against 70%of the statutory income in 5 years. Special for Sabah and Sarawak, companies located there will be given allowance of 80% in respect of qualifying and offset against 85% of the statutory income in 5 years. Next,tax exemption for tour operators. First, for foreign tourists. Tour operators who bring in at least 500 foreign tourists a year through groups, inclusive tours that enter and exit the country by air, sea or land transportation, will be exempted from tax in respect of income derived from the business of operating such toursâ‚ ¬Ã‚ ®Ã¢â€š ¬Ã‚  second, for local tourists. Companies that organise domestic tour packages for at last 1,200 local tourists per year get tax exemption on the income earned. A domestic tour means any tour package within Malaysia participated by local tourists (excluding inbound tourists) by air, land or sea transportation involving at least one nights accommodation. Recommendation Recommendation to better improve the tourism industry to known by others country and attraction foreign tourist to generate our GDP will be identified after the full research has been completed. The Ecotourism Development in Malaysia. Retrieved on October 12,2010 from http://www.apo-tokyo.org/gp/e_publi/gplinkeco/17chapter15.pdf There are such ways to improve Malaysia ecotourism. As we know, we have many ecotourism place included Wildlife Protection Act, the National Park Act, the National Forestry Act, the Fisheries Act and the State Park Enactment (Pahang). These protected areas are gazetted under the various federal and state. The Department of Wildlife and National Parks, the Forestry Department, the Fisheries Department and the various State Parks authorities have been responsible for managed these place. First ways is ours tourism and travel agencies should be more creative to promoted ecotourism to attract more foreign tourist because government give many incentives to them. Creative means travel agencies should provide more packages for student, family, group and others. These packages will attract more tourists to visit Malaysia also attract local tourist. Local tourist actually more demand than foreign tourist because local tourists want different experience in the place they visit. Trav

Fruitless Love :: Dialogue Essays

Fruitless Love   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  I waited for Bob to head out for his three o'clock before I packed up my things and left the office. I didn't have to. Bob isn't my boss, he's just the guy who sits in the next cubicle. And it's not like he would have said anything, or even thought anything. It was just one of those days when I felt like leaving without anybody noticing.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  I smoked a whole cigarette walking from the office to the shuttle stop two blocks away. I walk slowly now, even when I feel like I'm rushing. The shuttle was parked at the stop when I got there. The driver had run inside the McDonald's to use the bathroom. I sat down on one of those sideways seats near the front and I smiled at the young woman sitting across from me. We sat there awkwardly facing each other for several minutes while the bus driver did his thing in the McDonald's. I had a newspaper in my briefcase.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  It was a quarter to four when I got home and for a good five-some minutes I stood at the dining room table trying to decide what to do next. Laura would be home in an hour or so. That's why I took off early. To have an hour or so. But I wasn't sure what to do with it. I took a beer from the fridge and started a bath.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  I was still in a towel, shaving, when Laura came home. I heard her call my name down the hallway. She was winded. I heard packages. â€Å"I'm in here,† I said. My voice sounded funny, high. I drew the razor up toward my chin.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã¢â‚¬Å"Are we late?† she asked. â€Å"I had to stop at the supermarket first. I got us a cake to bring.†   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã¢â‚¬Å"Renee said not to bring anything.†   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  She walked into the bedroom, struggling to undo her top. â€Å"Are we late? I didn't even see what time it is.†   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã¢â‚¬Å"What kind of cake?† I asked.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã¢â‚¬Å"Did she call? I left a message on her machine. I said we might be late.†   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã¢â‚¬Å"We're fine,† I said.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  I rinsed my face and leaned in close to the mirror to see if I'd missed anything. I couldn't remember if I'd brushed my teeth. Laura walked up behind me. She reached around and pinched one of my nipples. â€Å"Hello, you,† she said.

Practical and Emotional Intelligence

Practical and Emotional Intelligence Tabitha Driskell PSY/201 March 24, 2013 Taryn Fetscher Practical and Emotional Intelligence Practical intelligence is the intelligence related to overall success in living. Emotional intelligence is the set of skills that underlie the accurate assessment, evaluation, expression, and regulation of emotions (Feldman, 2013, p. 385). The difference between the two is that practical intelligence is learned by observing people’s behaviors while emotional intelligence has to do with understanding other’s emotions.Emotional intelligence is the basis of empathy for self-awareness and social skills (Feldman, 2013, p. 385). These both can help you accomplish many things, especially if you are good with both. These both can help you really well when working. Just imagine you are a cashier register and a customer complains about a toothbrush by yelling and calling you bad names. If you are really good at both intelligences then you can deal with this in a calm and mature way. Ask the customer what is wrong with the toothbrush, if the customer keeps shouting at you then you know that you need to get the manager.If you have a low intelligence for both emotional and practical intelligence then you can get fired because you will start acting like the customer. Emotional intelligence can help in this situation by helping you understand what the person is really feeling by their body language, words and facial expressions. It can also help you by knowing how to calm down the customer enough so nothing bad happens by listening to what the customer says and talking in a calm and mature way. Practical intelligence can help because you will be good at observing the person’s behavior.If you are good at only one of these it may help but not as good as both would. You may get too compassionate if you are only emotionally intelligent because you will really feel sad because of what the customer is going through. If you are both th ough, then you can think about it more critically using practical intelligence. One television character that I can think of that uses both intelligences is Bugs Bunny. He is always studying people’s behaviors to see how he can get out of trouble. He also knows how to get to your heart to get out of trouble. Such as with his foe Elmer Fudd who tries to cook him in a lot of episodes.He is able to make him cry by telling him stories that he knows will make him sad. He also dresses up as other people so that he can get out of trouble. With his wit I believe he can get out of any situation. His practical intelligence and emotional intelligence is easy to see through every episode. Another character is Dr. House who plays in the show House. He is able to tell if someone is lying to him by looking at their body language and behavior. He is also very smart and is actually able to diagnose a room full of patients in a minute while walking out of the clinic.He only did this to show pe ople that he can do it. Although he is good at practical and emotional intelligence, he can be mean. He usually acts like he does not care about his patients, but he just does that because he does not like to show his emotions. Critics have called his character sociopathic because of this. Other than his flaws he is really smart and intelligent. The only problem he needs to work on is his social skills. Resource Feldman, R. S. (2013) Psychology and your life (2nd ed. ). New York, NY: McGraw Hill. My memory of characters

American CEO Compensation is Immoral

Substantial evidence shows that American CEOs are better rewarded than their counterparts in European countries, and that this trend has been on a rapid upward growth starting from the last thirty years and only slowing down during global economic recessions. As expected this trend has drawn considerable arguments, with a lot of questions posed about what structures do American companies usually apply when commissioning such abnormal pay hikes and whether such structures are ethically and professionally justified.For instance, it can be loudly wondered whether the American CEOs deserve these high payments more than other CEOs elsewhere in the world. It can also be wondered whether they have more responsibilities than their counterparts in Europe and other continents alike. Well, the answers to these questions may draw all sorts of answers to the affirmative and/or otherwise.For purposes of this paper it is hypothesized that, the abnormally huge compensation packages given to American CEOs in the form of salaries, bonuses, stocks, options, or even termination packages is not morally justified given that most workers in America are still struggling with the agony caused by unemployment, ineffective social welfare systems, and increased costs of living. In tackling this seemingly sensitive issue, efforts will be made to represent both sides of the argument in equal measures and then finally a final verdict will be made in support of the study hypothesis.Theoretical Framework: Rogerian Argument Himself a psychologist, Carl Rogers advances a â€Å"rational† kind of approach especially when sensitive matters are at stake. He opines that a writer should first of all understand strive to represent his readers perspectives in his writings using the most neutral words there can be. He should also do the same when advancing his standpoint on an issue, particularly if such standpoint is not good news to his readership.His advices are that a writer should not adopt a n adversarial approach in presenting arguments rather he should adopt a seemingly neutral ground that will help to build sympathy and the desire to read more on the part of the audience. In fact, he reasons that a writer should not make a generalization as what his readership should believe of do, rather he should together with his readership struggle to finding and defending a neutral ground that will enable the readership to make their own personal decisions based on the fairly and factually resented issue.Using this practical method of argument this paper will seek to present the sensitive issue of executive compensation by delineating the issue in operational terms; agreeing on morality of increased CEO compensation packages; refuting the morality of the same; offering examples why increased CEO compensation packages is not morally justified, and; proposing a neutral compromise that pits the two positions equally acceptable to the audience. Research Problem Is it morally justifi ed to pay CEOs huge salaries while other employees are poorly rewarded?This paper intends to carry out an intensive study to investigate whether the evidential abnormal American CEO Compensation packages are morally justified. To achieve this, a range of existing literature on marketplace modalities governing employee compensation vis-a-vis ethical structures will be revisited. The literature collected thereof will be analyzed and systematically presented using the five principles of communication as advanced by Carl Rogers with view of advancing an opposition verdict.There is a general consensus that teachers are underpaid and their professions are under respected. Now what if I told you that presidents of colleges make a lot of money? And that they have been making more money since the recession even though campuses at large have lost classes and fees have been increased for students. Do you feel that the presidents for scholastic institutions should still get paid so highly? Well , it all boils down to the general perspective held by an individual. Most European countries believe in a more socialistic approach to president/CEO/executive pay.Their salaries represent a level of contentment and achievement that can be justified as being equal to their counter parts below them. Here in America, since the recession many Americans have been scratching their heads in wonderment as to why CEOs of companies such as CountryWide, BofA, and Goldman have been pulling in such large amounts compared to the rest of the workers. Brian Foley mentioned that many American CEOs make more money in one year than the median salaried worker makes in lifetime. Is this an injustice? Our European corporate counterparts see it as such.However many European companies move their base to America to reap the same rewards that American CEOs get, so what part of making such high pay makes it right? As a student and an intern at a finance company I feel that the corporate pyramid represents mo re of a stairway to heaven. I wonder what part of life, morality, and injustice to my coworkers must I face to reap the future rewards of possibly being a partner or maybe more? Should I work for the money as many Americans do instead of our European counterparts who work for contentment and the ability to provide security to their employees and others?With the on set of the recession American corporate pay structure has not only been heavily scrutinized by those who are not in the top of that structure, but has also been shunned upon by many other CEOs and Presidents all over the world. Greedy for money, unjustly leaning towards the welfare of Top executives, immoral for people who are unemployed because a CEO is unwilling to hire new members to keep his salary as high as possible; these are the ideas that resonate in newspapers.Although after being an intern at KKR Capital for one and half years and getting paid at 25 an hour, my sentiments are starting to be different. Background Information There is no doubt on the authenticity of the generalization that, CEOs in American corporations (profit and not-for-profit alike) are rewarded handsomely compared to what their counterparts in other countries particularly those in Europe earn. Consequently, significant debate on this seemingly sensitive issue has ensued among policy makers and pundits alike within and beyond the US borders.Tellingly, some of these loud voices in acknowledgement as well as those in opposition have got some elements of sanity in them. After all, common sense as well as sound work ethics holds that employee compensation packages should be pegged against performance meters. In their investigation on the patterns of executive compensation among â€Å"S&P 500, Mid-Cap 400 and Small-Cap 600 companies† between the period commencing 1993 to 2003, Bebchuk and Grenstein found out that indeed there has been a tremendous increase in remuneration packages for CEOs and top executives across maj or organizations in the United States (2).Their findings pointed out to a whopping mean compensation increment of 146 percent for CEOs in the S&P 500 category, the mean compensation for â€Å"top-five executives† also grew by a 125 percent margin from $9. 5 to $21. 4 for the same category. An increase from the $3. 7million recorded in 1993 to $9. 1 million recorded in 2003. Similar upward trend was also observed in the Mid-Cap 400 and Small-Cap 600 company categories.A comparison of the mean compensation increase between CEOs and the top-five executives indicated that CEOs were higher in 2003 when compared to 1993, an indicator that indeed CEOs compensation packages has grown over the years (2-3). Faulkender et al argue that CEO compensation in majority of the leading US organizations has soared to reach higher levels courtesy of â€Å"an explosion in stock option grants† and â€Å"flawed governance mechanisms in the pay-setting process† (110). Precisely, their data shows that the mean CEO remuneration package for S&P 500 corporations grew significantly from a low of $850,000 to $14 million between 1970 and 2000.For unexplainable reasons the growth dropped in 2002to $9. 4 million only to gain momentum again to hit the high of $13. 5 million between 2005 and 2007 (110). Again, it dropped in 2008 to $10. 5 due to the biting effects of the global economic crunch. [See appendices 2 for amore details] There is a huge discrepancy between CEO salaries and those of other employees. Trends show that the discrepancy has been on an increase starting from the last thirty years and only slightly dipping on few occasions due to the effects of unfavorable economic developments.As a matter of fact, unusually high salary packages have been ditched even on controversial circumstances to executives embroiled in management squabbles. In mind is the notable $210 million that was given to HomeDepot departing executive, Robert Nardelli and the $187. 5 million gi ven to NYSE departing executive Richard Grasso. In the list of the â€Å"most controversial compensation packages† issued to an executive is the former Tyco CEO, Dennis Kozlowski who was given a dispatch package of $5.1million worth of shares in the company and other shares from a subsidiary company worthy $81 million despite him being not cleared from fraudulent charges brought against his manner of management while serving as the company CEO (Faulkender et al). Morality in American CEO Compensation Kaplan (2009) argues that, the widely held notion that CEO compensation packages are abnormally high is nowhere near the truth, and that CEO compensation packages do not contribute to financial crises.He offers what seems like a set of well researched and analyzed data showing that CEOs are actually underpaid particularly when their compensation packages are juxtaposed against those of â€Å"hedge fund managers, investment bankers, private equity investors, money managers, and l awyers†. In fact, in 2007 S&P 500 CEOs earned relatively low salaries compared with what top hedge fund managers took home. In his well broken down analysis, he offers that the salary scales of other employee groups just as that of the CEOs has grown considerably since 1990s.Analytically, this is an indicator that CEOs are not riding on an abnormal or even unethical reward wave. Contrary to other studies on CEO compensation trends among American corporations, Kaplan concise research findings show that CEO salaries among major US S&P 500 companies only gained momentum in 2000and that since then the mean and median CEO compensation indexes has been on a stagnant as opposed to a growing trend. Even so, in what seems as a concurrence with other studies on the American CEOs compensation matter, Kaplan agrees that since 2008 the trend has been on a decline trend.Moreover, as opposed to the gross income trends entered in the prior decade, CEOs only made a small portion, three percent of the number of Americans making the top 0. 1 percent gross income in the 2004- 2005finacial year. That the S&P 500 CEOs only managed to account for about 0. 60 percent of the total income for Americans making the top 0. 1 percent gross income in 2006 as compared to 1. 2 percent registered in 2001, with indicators showing a likely diminishing trend in the future. According to Bebchuk, Fried and Walker any ‘rational’ human being including CEOs may be tempted to enrich themselves if given an opportunity to do so.They argue that, â€Å"When changing circumstances create an opportunity to extract additional rents–either by changing outrage costs and constraints or by giving rise to a new means of camouflage–managers will seek to take full advantage of it and will push firms toward an equilibrium in which they can do so†(cited in Gabaix and Landier 53). A case atypical to this postulation is the popular use of the stock option packages by CEOs to incre ase their benefits without undergoing the agony of facing shareholders vetting and/or wraths.Moreover, the behavior of the board members also gives CEOs a leeway to sneak in high incentives for their positions. Incomplete or ill-informed board members may fail in their duties to vet any salary increases on the part of the CEOs giving them a wide operating space. Some board members may also be lacking the needed powers to question CEOs compensation decisions; this is a case common in corporations with very powerful CEOs who tend to ‘manage’ the board. There is no direct link between financial crisis and high executive compensation.Though it is obvious that high remuneration packages may play a significant role in financial crisis engulfing companies such as the one witnessed in 2008, other more directly linked and more powerful factors are responsible. In mind is the weird banking regulation that leaves too much space for financial institutions to give out unsecured cred it facilities as well as the great leeway on the part of such banking institutions that accords them an opportunity to double as hedge funds.By fair terms these two factors are the ones to blame and not the hiked executive salaries given that the financial crisis was chiefly caused by high rates loan and mortgage defaulting. As a matter of fact, Faulkender et al (116) argue that executive compensation forms a very small chunk of the many causal factors of the recently ended financial crisis and that it cannot be blamed for all the woes engulfing the American banking industry. According to Grundfest executives of banks experiencing financial crises cannot be held accountable for causing the crises.In fact, he boldly offers the executives incentives cannot be blamed for financial crisis that hit the banking sector in 2008. This he defends by offering that the executives always give their best when it comes to managing their organizations and that they formulate strategies that are bas ed to the best of their knowledge and experience: â€Å"Sure, they were miserably wrong, but they didn’t know they were making a huge mistake that would cost them, their shareholders and taxpayers a huge fortune† (1).He defend this argument by reminding his readership that even the executives lost their investments in the form of stock they held in the banks. That the executives are also shareholders of the organizations they head, it is an indicator that they do not their own interests but that of the shareholders and that any eventuality of a great financial crisis is just normal in that it is not triggered by any commission or omission on the part of the executives (1).The high CEOs compensation packages among American public corporations are ethically justified. The competitive nature of the domestic market economy between privately owned equity firms and public corporations where private organizations offer very competitive pay packages to woe top executive with p roven performance track records. A case atypical to this argument is depicted by the mass exodus of top executives from public corporations to Wall Street based private equity corporations where they offer a range of executive advisory services (Kaplan 1).American CEO Compensation Immoral Is American CEO Compensation moral? I believe that it is immoral because compared to that of European CEOs, American CEOs get paid so highly and with the onset of the recession, this has been highly scrutinized. It is argued that executives who by capitalizing on the seemingly lax regulations on the compensation modalities go ahead and declare abnormal bonuses for themselves are result-oriented as opposed to rule-oriented.Lundberg and Montell proves this postulation by asserting that the growing trend on the part of executives to reward themselves with hefty salaries is occasioned by the market systems, particularly those based on commission basis or the popular â€Å"performance-based† remu neration. Analyzing a number of similar trends they argue that the performance-based salary perks erode the moral content among executives to the extent that they fail to link their actions as unethical but economically justified, given the huge profits they help make for the companies they head (2).Financial incentives are responsible for attracting all manner of personnel some of whom are only driven by the desire to reap from the huge legitimate benefits and if possible to use the seemingly ambiguous employee compensation regulations to achieve this in a quicker manner (Schwab 1). As a matter of fact, it has been argued that incentivized compensation packages are usually complex especially if large production processes are involved so that it becomes difficult in determining the â€Å"what, how much, who, and when† of production units awarded to individual employees.Such complex scenarios may tempt executives to overstep their powers and therefore increase their salaries. Moreover, though the performance-based compensation scheme is buoyed by the notion that highly rewarded employees perform better this is may not be the case in all situations especially if some of section of the employees is rewarded handsomely at the expense of others.Paying executives too much money is tantamount to immorally siphoning a large chunk of the overall profits that an organization makes and spending it on one individual instead of doing so on the large number of the shareholders who are in real sense the owners of such organization. This trend which has been witnessed in many financial institutions in the US has resulted in immense suffering on the part of the shareholders. It can be argued that these sufferings are threefold (Murali 1):First, from the poor decisions taken at the expense of the long-term viability of the company; second, through the payouts of excessive benefits for mediocre or poor performance; and third for the costs and settlements of any ensuing la wsuits, which were paid by the companies involved. Most importantly, these skewed compensation packages do not subscribe to any conventional capitalism rules. This is because it flouts the tenets of performance-based reward system as it does not make sense that American CEOs are the only hardworking executives in the whole world.As Murali summarizes it, â€Å"There is no way that the job of CEOs in the US has become 20 times more difficult than it was in Alfred Sloan’s day or 10 times more difficult than it was in the 1970s, and yet the packages suggest precisely that† (1). There is no doubt that the American government does not give much attention to executive compensation practices employed by major corporations operating the US. This has given much room to large financial institutions to engage in unprecedented reward systems that enrich top executives at the expense of the other cadres of employees and the shareholders.Such, reward system is not only selfish and im moral but it also highlights on the bred of CEOs running large corporations: as persons out to perpetuate their own agendas rather than that f the shareholders. Mitigation Measures It is true that in approaching the American CEOs compensation issue a lot of care and sobriety should be used. This is because there are both light and dark sides on the issue. The most certain solution to the issue seems to be legislation of strict regulations that will put limits to the amount of bonuses executives can award themselves.However, this need not be as plain as it is said; otherwise it will not be accepted by the majority. Americans needs fundamental economic legislations that will address a wide area of the puzzle including making the cost of living more affordable for the common American so as to mitigate the biting effect of economic of future economic crunches. Such legislations will ensure that the executive compensation packages are also fixed in accordance with the prevailing economic trends as opposed to the individual performance of a company.In regard to their â€Å"result-oriented and rule-oriented† analogy, Lundberg and Montell offer that result-oriented executives are most likely to disregard the moral fabric when compared to their rule-oriented counterparts. In this regard they opine that the performance-based incentive programs are a recipe for moral degradation on matters of employee compensation and that they only succeed in creating result-driven executives and not rule-conscious ones (Lundberg and Montell 2).It can therefore, be asserted that even in the presence of rules that fix executive compensation limits, there can never be a convincing assurance that the problem of abnormal compensation can be fully addressed given that, the inherent failure on the part of the result-driven executives to acknowledge the element of morality in following or even breaking the set rules. Again, the bonus pegged market structure where both short and long ter m bonus targets are included as part of competitive reward system to motivate hardworking employees, and to attract and retain talented employees’ only serves as a catalyst for breach of such rules (2-3).This postulation is supported by Schwab (1) when he says: While regulation is important for the future of the global economy, rules alone are not sufficient. The economy is not an independent or self-contained realm; the crisis has shown that the economy has to serve society. We have to be careful that the measures taken to curtail the crisis will not damage the power of innovation in the real economy. In mitigation it is hereby advanced that the realm of management should not be commoditized, rather it should be handled as a profession.This postulation is advised by the conventional wisdom that a profession just like a society is governed by â€Å"ground rules† and not monetary incentives. Such a scenario will accord all cadres of employees an opportunity to reap from the fruits of their labor in proportionate measures irrespective of their status in the organizational ladder. Most importantly, this â€Å"will create an unspoken social contract of trust to other members of society† (Lundberg and Montell 4). This postulation draws its impetus from similar sentiments shared by Schwab (1) when he generously offers that:When I had surgery a few years ago, I knew very well that my future quality of life would be dependent to a large extent on the qualifications of the surgeon. This is why I sought an expert who was the best in his profession. I naturally assumed that I was in the hands of a doctor who could apply his most professional skills without claiming that he would like to have a share of my future income – since, of course, this would be dependent on his knowhow – in addition to his remuneration.In this regard Reynolds offers that organizations should foster efforts toward the improvement of personal qualities such as edu cational qualification, work experience, as well, the propensity to embrace change. He argues that such efforts are capable of instilling the sense of morality among employees (241). Work Cited Bebchuk, Lucian and Yaniv Grinstein. The Growth of Executive Pay. Discussion Paper No. 51004/2005, Harvard Law School Cambridge, MA 02138, (2005). Faulkender, Michael, Dalida Kadyrzhanova, N.Prabhala, and Lemma Senbet. Executive Compensation: An overview of research on corporate practices and proposed reforms. Applied Corporate Finance, 22. 1. (2010). Co Gabaix, Xavier and Augustin Landier. Why Has CEO Pay Increased So Much? The Quarterly Journal of Economics, February 2008. Grundfest, Joseph. ‘What’s Needed is Uncommon Wisdom’, New York Times online, October 6, 2009. Kaplan, Steve. (Good) CEOs Are Underpaid, Harvard Business Review, Harvard Business School Publishing, June 15, 2009.Lundberg, Viktor and Christofer Montell. The effects of incentive compensation on moral awa reness: An explorative study. Master Thesis in Management Accounting, University of Gothenburg, School of Business, Economics and Law, 2010. Merchant, Kenneth, A. , and Wim A. Van der Stede. Management control systems: Performance measurement, evaluation and incentives. Essex: Pearson Education Limited. Murali, D. Pay should reinforce right tone at the top.July 8, 2010, accessed July 22, 2010, from: http://www. thehindu. com/ Reynolds, Scott. Moral awareness and ethical predispositions: investigating the role of individual differences in the recognition of moral values. Journal of Applied Psychology 91. 1 (2006); 233–243. Schwab, Klaus. Financial crisis is a chance for positive change. Times Online, Publ. 081104. Accessed on July 22, 2010, from: http://business. timesonline. co. uk/tol/busines/management/article5076011. ece/

The eNotes Blog The World According to IsaacAsimov

The World According to IsaacAsimov If youre anything like the average employee at headquarters, youre probably still drooling over the forthcoming generation of Apple iPhones. So allow me to ease you out of your reverie with a fun retrospect of how our bright future was predicted near perfectly almost 50 years ago. Image via Cinema Blend Back in 1964, the Jetsons were on television, the lava lamp had just been invented, and the Moon was as yet uncharted territory. Isaac Asimov was also a popular science fiction writer of the time, though it was still six years before he would write his most famous short story I, Robot. Instead, he wrote an essay for the New York Times in which he imagined a trip to the Worlds Fair of 2014, five decades into the future. On the brink of that very event and in the middle of a whirlwind of technological advancement, lets take a look at five of the astounding predictions Asimov made for the 21st century: Image via CUInsight Lighting   Our new world would apparently be designed without windows in mind. One thought that occurs to me is that men will continue to withdraw from nature in order to create an environment that will suit them better. By 2014, electroluminescent panels will be in common use. Ceilings and walls will glow softly, and in a variety of colors that will change at the touch of a push button. Windows need be no more than an archaic touch, and even when present will be polarized to block out the harsh sunlight. The degree of opacity of the glass may even be made to alter automatically in accordance with the intensity of the light falling upon it. Sorry Asimov, but for the most part we still look to good old window dressings to block out the sunlight. We do, however, have polarized transition lenses in our eyewear. Though I believe science is still trying to work out a way that wont leave one with permanently halfway-tinted glasses in your averagely lit room There is an underground house at the fair which is a sign of the future. if its windows are not polarized, they can nevertheless alter the scenery by changes in lighting. Suburban houses underground, with easily controlled temperature, free from the vicissitudes of weather, with air cleaned and light controlled, should be fairly common. Once again weve wasted one of Asimovs completely practical ideas by employing it for needlessly decadent purposes, like having a casino in Vegas thats lit to make you feel like youre walking the streets of Paris but hey, its something. Image via Trend Hunter Food Preparation Gadgetry will continue to relieve mankind of tedious jobs. Kitchen units will be devised that will prepare automeals, heating water and converting it to coffee; toasting bread; frying, poaching or scrambling eggs, grilling bacon, and so on. Breakfasts will be ordered the night before to be ready by a specified hour the next morning. Complete lunches and dinners, with the food semiprepared, will be stored in the freezer until ready for processing. Viva the frozen dinner! Its like he had a crystal ball that stared directly into my life! I suspect, though, that even in 2014 it will still be advisable to have a small corner in the kitchen unit where the more individual meals can be prepared by hand, especially when company is coming. Hmph. Image via Scientell Robots Robots will neither be common nor very good in 2014, but they will be in existence. The I.B.M. exhibit at the present fair has no robots but it is dedicated to computers, which are shown in all their amazing complexity, notably in the task of translating Russian into English. If machines are that smart today, what may not be in the works 50 years hence? It will be such computers, much miniaturized, that will serve as the brains of robots. In fact, the I.B.M. building at the 2014 Worlds Fair may have, as one of its prime exhibits, a robot housemaid *large, clumsy, slow- moving but capable of general picking-up, arranging, cleaning and manipulation of various appliances. It will undoubtedly amuse the fairgoers to scatter debris over the floor in order to see the robot lumberingly remove it and classify it into throw away and set aside. (Robots for gardening work will also have made their appearance.) Actually Isaac, no need for a ticket to the World Fair to see the latest housecleaning robot; your local Bed, Bath, and Beyond will let you play with a Roomba for free. As a side note, I was pleasantly surprised that the author strayed from the cliche expectations that the world would be run by robots by this time. In fact, it actually seems like weve ever so slightly surpassed his visions for technology in this area, for I I have practically all the makings of a robot in a device that fits in the palm of my hand. Although, Im pretty sure were all still using it to translate Russian into English. Image via Techyuga 3D Movies General Electric at the 2014 Worlds Fair will be showing 3-D movies of its Robot of the Future, neat and streamlined, its cleaning appliances built in and performing all tasks briskly. (There will be a three-hour wait in line to see the film, for some things never change.)   As for television, wall screens will have replaced the ordinary set; but transparent cubes will be making their appearance in which three-dimensional viewing will be possible. In fact, one popular exhibit at the 2014 Worlds Fair will be such a 3-D TV, built life-size, in which ballet performances will be seen. The first point may as well be true. As Asimov correctly predicted, both the movie and TV viewers of the early 21st century are bored of 2 meager dimensions, though I still hold out hope that 3D TVs never catch on. Image via Youtube GPS and the Google Car Much effort will be put into the designing of vehicles with Robot-brains*vehicles that can be set for particular destinations and that will then proceed there without interference by the slow reflexes of a human driver. I suspect one of the major attractions of the 2014 fair will be rides on small roboticized cars which will maneuver in crowds at the two-foot level, neatly and automatically avoiding each other. These days, most of us cant walk, ride, or drive anywhere without turning to GPS. I myself am lost without my smart phone and Google maps. Literally. On top of that, the Google driveless car is almost a reality. If you live in Nevada, Florida, or California, you may just see these autonomous cars out and about on public roads. But then Asimov took it a little far thinking wed all be commuting on hovercrafts by now. Jets of compressed air will also lift land vehicles off the highways, which, among other things, will minimize paving problems. Smooth earth or level lawns will do as well as pavements. Bridges will also be of less importance, since cars will be capable of crossing water on their jets, though local ordinances will discourage the practice. Alas, were still made to suffer the pitfalls and potholes of state roads. I couldnt even touch on his ideas for video phone calls, tofurkey, or moon colonies, or indeed his terrifying idea of a vastly over-populated World-Manhattan. Even with what was at most a speculation of life five decades into the future, the writer really pegged us surprisingly well. For while his dark vision of an over-populated society has not come to pass, his closing lines show a somber knowledge of exactly where were headed: Mankind will suffer badly from the disease of boredom, a disease spreading more widely each year and growing in intensity. This will have serious mental, emotional and sociological consequences, and I dare say that psychiatry will be far and away the most important medical specialty in 2014. The lucky few who can be involved in creative work of any sort will be the true elite of mankind, for they alone will do more than serve a machine. Hope you enjoyed this look back as much as I did. Cheers to the new world!

Compare and contrast The Red Room by H G Wells, with opening chapters of Jane Eyre Essay Example

Compare and contrast The Red Room by H G Wells, with opening chapters of Jane Eyre Essay Example Compare and contrast The Red Room by H G Wells, with opening chapters of Jane Eyre Essay Compare and contrast The Red Room by H G Wells, with opening chapters of Jane Eyre Essay Essay Topic: Literature Both The Red Room by H G Wells and Jane Eyre by Charlotte Bronte, were written in the nineteenth century. The main focus in the short story by H G Wells is the red room, while the red room in Jane Eyre is part of a novel. Charlotte Brontes story is about an orphaned ten-year-old child called Jane Eyre, who is living with her Aunt Reed at Gateshead Hall. She is excluded from the family in the household and it becomes obvious to the reader that they dont approve of her or like her at all. Jane herself is aware of this, as she says I was a discord in Gateshead Hall. She has a very bad relationship with the family; especially Master John, who bullies her in the opening chapter of the book. Jane is an outcast to every privilege in the house, and her Aunt is very cold and aloof towards her. When Master John provokes her and throws a book at her in the first chapter, she retaliates and is forced into the Red Room, by her Aunt, who immediately defends her son. The Red Room by H G Wells, is a short story about a nameless visitor to Lorraine Castle. The person, who is assumed to be a man, is volunteering to enter The Red Room for the night, in order to prove or disprove the existence of a ghost or supernatural force in the room. This is different to Jane, who is forced to enter the room. He talks to three elderly people before entering the room, and they explain to him the mystery of the room, helping to create tension between them. They obviously fear the room, and they explain to the man many times that he is entering the room at his own choosing. Both stories are written in the first person narrative, which allows the characters to describe their feelings in detail; especially when inside the Red Room. Jane Eyre is also an eponymous story. The reader is given a brief description of Janes life, and we find that she is a ten-year-old orphaned child living with her Aunt. The opening chapter describes the way Jane is lost in her own little world, looking at pictures and reading books, which portrays her as an imaginative child, full of happiness. Janes intelligence is also underlined here and her capacity for reasoning analysis in her account of Cousin John is noticed. But another side of her personality is shown as well, when she looses her temper with Master John, and calls him a Wicked and cruel boy! She has obviously had enough of being bullied by the family, and her feelings towards them are underlined here. She says that other feelings were succeeding her, which again shows us that she felt hatred towards the family and the surroundings. The man in the Red Room on the other hand is a mystery to the reader, as no information at all is given about him. This is different to Jane Eyre, where we get to know the character well. He is portrayed as a very calm but somewhat impertinent character, as he tells the elderly people at the start that it would take a very tangible ghost to frighten him. This is a very pompous tone, which immediately gives the reader the impression that he is very confident in his actions. He is reminded several times by the man with the withered arm that it is his own choosing, to enter the room, but he is still very confident, which contrasts against Janes reaction to entering the room. There is no mystery surrounding the characters in the opening chapters of Jane Eyre, as they are all relatives or familiar to Jane. I feel that this helps to familiarise the characters to the reader and underlines Janes troubled background. Master John is portrayed as a frightful young boy, and Jane says that there were moments when I was bewildered by the terror he inspired. Bessie and Miss Abbot are also described as being very stern with Jane, which again underlines the unfairness shown towards Jane. The other characters in The Red Room are portrayed as being very old, as they are described according to their appearance, for instance, the man with a withered arm and the man with a shade. They are also portrayed as being both wise and perceptive, as shown in the phrase Many things to see, when ones still but eight-and-twenty. A sense of unfamiliarity is conveyed by the mystery of the characters in the Red Room, which is a contrast to the sense of accustomed behaviour between the family in Jane Eyre. The opening atmosphere in Jane Eyre is described as being very dark, as it is raining with clouds so sombre. This immediately, portrays the large house as being gloomy and the weather is used by Charlotte Bronte, to reflect Janes feelings at the time. Lorraine Castle in the Red Room is also a very big and old place, showing similarities to Gateshead Hall. The man with the withered arm describes the spiral staircase and the long passage in the castle, which gives the reader an image of an old, neglected building. This is different to Gateshead Hall in Jane Eyre, which is described as being quite warm and comfortable. When Jane is taken to the Red Room it says that she resisted all the way, which shows the reader that she hated the room and was terrified of it. She is being taken to the room against her own will and she says that a moments mutiny is the reason for this, which implies that she feels the family is against her. She also refers to herself as a rebel slave, which again shows that she is a captive, not a volunteer to the Red Room. During the build up to the room, the author tries to make the reader feel pity for Jane. Bronte creates pathos towards Jane in a number of different ways. Her use of adjectives such as wicked and rebel slave help to create this sense of pathos. The servants attitude towards her is also used to reinforce this as they call her a wicked child. This is very extreme and emotive language, considering that Jane is only a ten-year-old child. Details of Janes background are also used to create pathos, as we are told how her Uncle had died in the room. The build up to the room in H G Wells short story is also used to create tension. Descriptions like chilly, dusty and shadows convey the darkness in the castle, while the mans loss of confidence as he stopped for a moment, helps to give the castle a mysterious aura. Jane is beside herself going into the room but the man in The Red Room is sceptical, but is willing to enter the room. The author also makes no attempt in making the reader feel sorry for the man in The Red Room, while every effort is made for the reader is made to feel sorry for Jane. There is a very detailed description of the Red Room in Jane Eyre. A sense of imprisonment is created when they lock the door, which immediately has an effect on Jane. An image of a prison cell is again created when the room is called a spare chamber. The feeling of neglect is also conveyed as she describes the room as very seldom slept in. Red is emphasised by the author in the description, also the repetitive use of red in the deep red curtains, red carpet and the crimson cloth also links to the red described in the room. I think that the colour Red is emphasised by the author, for many different reasons. Red is a very deep and rich colour, which immediately conveys the dark, mysterious surroundings within the room. Red is also associated with blood, which holds a strong religious connection, and could also be linked to the death of her Uncle. Large and dark furniture are brought to our attention by the author; with massive pillars of mahogany and chairs of darkly polished The word white is juxtaposed against the darkness in the room, while there is a certain element of irony in the fireplace, as it again contrasts with the gloomy and cold atmosphere in the room. Death is also represented in the room with the reference to the undertakers men being a link to the death of her Uncle. There is a religious connection as she says that there is a sense of dreary consecration. When land is consecrated, it is made holy; therefore the death of her Uncle is emphasised by this connection. The Red Room in Wells story is also conveyed as being very dark and gloomy. It is described as being a large and sombre room, with shadowy window bays. These descriptions are similar to the Red Room in Jane Eyre, as it, was also very large and gloomy. H G Wells use of metaphors help to convey the darkness in the room, for example, My candle was a little tongue of light in its vastness which tries to convey the room swallowing the light, and an ocean of mystery which describes the vastness of the mystery surrounding the room. Both Jane and the man, start to lose confidence as they spend more time imprisoned in the room. Even Janes own reflection is starting to scare her. It reminds her of Bessies old stories and she feels that Superstition was with her. There are two big mirrors in The Red Room also, which underlines similarities in both rooms. As Jane is left alone, she thinks about how she was treated, and she is distressed to realise that she is a total outcast. As time goes on in the room, she recalls that she is in the same room that her Uncle Reed had died and gets very distraught. This causes her to fear his ghost and this again conveys her powerful sense of imagination. The man also becomes very distraught as time goes by. In a similar way to Jane Eyre, a young Duke had also died in the Red Room in Lorraine Castle, but the man tries not to think about this, unlike Jane. Instead the man occupies himself by talking and lighting candles. When the flames start to disappear, the mans imagination gets the better of him, and like Jane he starts to panic. The concentration of verbs are very intense while the man panics as the author uses verbs like stumbled, fell, snatched, swung and thrust, to emphasise the excitement in the room. Jane has a species of fit towards the end, which is very similar to the man who gets knocked unconscious after falling and striking his head. The rooms drive both to panic as their imaginations get the better of them. The man explains to the old people at the end that it is fear that haunts the room. This means that the room causes the imagination to get the better of you; this is also true in the red room in Jane Eyre. I consider fear, to be an important theme in both stories. Both Jane Eyre and the man are driven to insanity by the constant sense of fear in the rooms. Both authors emphasise the fact that apprehension and dismay alone, causes fear in the rooms. H G Wells chose the title The Red Room for his short story because the room is the main focus of the story. The story is based on the red room and its mystery, which is finally explained by a mysterious young man who witnessed the fear inside the room. The Red Room is also chosen as a title, because of the symbolic meanings of the colour. Red is symbolic of blood, which contains a religious connection. This can be associated with death or supernatural forces which immediately reflects the feeling of fear inside the room.

A Business Plan to introduce Clean City Ltd

A Business Plan to introduce Clean City Ltd This document serves as a Business Plan to introduce Clean City Ltd, a registered Limited Company that was formed in January 2010. The sole purpose of Clean City’s business will be to solely engage/enforce the sorting of garbage, its collection, transportation and delivery/disposal to recycling plants and dumping sites, our main focus being recycling plants. What is Waste Management? Waste management is the collection, transportation, processing, recycling or disposal, and monitoring of waste materials, while Recycling is the process of re-using a given product (beyond its intended use), or producing a new product from a recyclable material. Nairobi’s population is approximately 4 million, 44% Kenyans fall below the poverty line, meaning approximately three quarters of Nairobi’s population falls under the urban poor category. In Nairobi, approximately 1,530 tonnes of garbage is generated daily and as illustrated in the Pie Chart below, approximately 1,130 tonnes of garbage rots uncollected close to its source, or is burnt in homesteads, dumped at illegal landfills or dumpsites or is collected by Non Governmental Organisations and Community based groups. Due to economic hardships and the high rate of unemployment, we have seen an increase of people migrating from rural to urban areas in search of better prospects to support their immediate families and/or dependants, and more often than not, most of these people eventually reside in low class areas such as the Kibera Slums or Peri-urban areas such as Gachie, Ongata Rongai, etcetera. Approximately half of the Kenyan population is based in Nairobi, and most of these migrants find themselves close to fragile areas such as rivers, valleys, steep slopes and adjacent to sewers or dumps. Nairobi City Council whose mandate is to provide and sustain a clean and healthy environment in Kenya has been unsuccessful due to its failure to formulate and adopt clear and comprehensive strategies that take in to account all aspects of waste management; its reluctance to involve stakeholders and to educate the general public on taking responsibility for their garbage disposal; and its manner in which it has disseminated information on the inherent dangers of inadequate attention given to waste management, or lack thereof. The Council’s Systems and Methods adopted to manage solid waste have failed to conform to the minimum requirements stipulated in the Environment Management and Co-ordination Act (EMCA) 1999, Part 11, Section 3(i). Generally it is poor governance. It is very sad indeed to witness adult pedestrians, motorists and passengers’ alike, ditching rubbish on footpaths, streets and roads without giving a second thought to the negative effects of their actions and having no regard for the beauty of Kenyan’s Capital, the Green City in the Sun. Majority of our young citizens, that is, our children, who are our leaders of tomorrow, innocently litter anywhere and e verywhere outside their homes and/or school premises, and in many instances this habit grows uncorrected because these young impressionable children mirror what many of us adults do resulting in a vicious cycle. Many of Nairobi streets and footpaths are littered with rubbish ranging from maize cobs, cigarette butts, fruit skins to plastic papers.

Marketing Strategies and Techniques by Coca Cola Assignment

Marketing Strategies and Techniques by Coca Cola - Assignment Example The organization has been effectively successful over the last 100 years. The organization has become an icon of global culture. The organization believes in partnership business with several bottles around the globe. The organization has generated revenue of more than 35 billion US dollar in the year 2010. Moreover, the organization has achieved a net income of almost 12 billion US dollar in the same year. These are a quite impressive number. Presently the organization is operating in more than 200 countries (Vpcomn, 2008, p.2). Moreover, during this point of time near about 139,600 employees are working under the payroll of Coca-Cola (Vrontis, 2003, p.2). The leading global organizations are trying to capitalize on the opportunities that have been created due to globalization. After the Second World War, the concept of globalization has evolved dramatically around the globe. Coca-Cola is one of those organizations who has effectively capitalized on those opportunities. The brand na me is hugely popular in more than 200 countries. Current UK soft drink market has become competitive enough. Several potential organizations within the industry including Coca-Cola are competing within this competitive UK market. Due to the high-calorie issue, recently the consumers are trying to consume fruit flavor juice or low-calorie soft drinks (Pitt, 1999, p.1). PepsiCo the only potential competitor of Coca-Cola is creating several challenges for the organization by introducing several product lines. The current market trend, huge competition and matured sift drink UK market has to make Coca-Cola busy to perform its business activities in the UK market (Wmich, 2012, p.1). Mission, Direction, and objectives Coca-Cola is one of the leading soft drink manufacturing companies. Their business values and activities reflected in their mission statement. Mission The organization used to do business practices according to their mission statement which is: The products will refresh the world....in mind, spirit, and body. The organization will inspire optimism moments......through products, actions, and brands. The organization will create huge value and will create the difference...wherever they are involved (Svendsen, 2013, p.4). Direction and Objective Segment The major business objective of Coca-Cola is to expand its diet coke range with the inclusion of several healthy elements. Moreover, the organization is trying to achieve an impressive market share by entering in UK fruit drink segment. The organization already has started to execute the required strategies in several parts of the globe. But due to huge market saturation in the UK, the organization is planning to enter the fruit drink market by monitoring all the strategies and current market trend (Jones, 2010, p.9).  Ã‚  

What Being A Leader Means To Me Essay Example | Topics and Well Written Essays - 500 words

What Being A Leader Means To Me - Essay Example A good leader inspires confidence in their followers. When I was captain of the football team, my fellow teammates were confident in my leadership. When I would go over plays, my teammates knew I had the best interest of the team at heart. When my plays would be successful most of the time, my teammates grew more confident in my leadership. I knew that I was responsible for successful plays. The whole team looked to me. That meant hard work on my part. In order to inspire confidence, I had to offer successful plays. This was accomplished by researching other teams, not to mention the hours of plays I watched on video. I put in hours and hours in order to inspire confidence from my teammates. The second part of being a leader is setting example by actions, not just words. My teammates and I had to endure grueling practices. Some of my teammates might get injured and sit out on practices. I did not have that luxury. In order to set an example by action, I had to endure despite the pain, fatigue, and my body’s weakness. I had to continue in order to inspire my team. If I quit over an injury or fatigue, then I could never ask my teammates for one hundred ten percent, because I did not live up to that standard myself. If my teammates did twenty laps, I had to do twenty-one in order to prove I was a leader. I had to make every practice, or not expect my teammates to make every practice. Actions speak louder than words. My leadership is an action orientated leadership. Finally, as a leader I did make mistakes. Sometimes my plays were not always successful. Instead of blaming a teammate, I would accept the responsibility. However, when I made a mistake, I would learn from that mistake. If a certain teammate could not catch the ball, I did not put him in the position to catch the ball. Every individual has weaknesses and strengths. I would play to the

The Concepts of Financial Intermediation Essay Example | Topics and Well Written Essays - 2500 words

The Concepts of Financial Intermediation - Essay Example A lot of these imperfections lead to particular types of transaction costs. These asymmetries can produce unfavourable selection, they can be temporary, generate moral exposure, and they can result a costly verification and enforcement. Based on studies, financial intermediaries emerge to at least partially overcome these costs. Leland and Pyle (32) interpreted financial intermediation as a coalition of sharing information. And intermediary coalitions according to Diamond (51) can achieve economies of scale. He also envisioned that financial intermediaries act on behalf of ultimate savers by effectively monitoring returns. According to Hart (1995), savers positively value the intermediations in terms of ultimate investments. On banker's behalf, according to Campbell and Kracaw (863-882) financial intermediations can create a constructive incentive result of short-term debt. The deposit finance can produce the right incentives for the management of the bank. A delicate financial structure needed to discipline the bank managers resulted illiquid assets (Diamond 393; Miller 21). In cases wherein the bank borrower preferred direct finance; financial intermediaries still act as a brokerage which was explained by Fama (39-58) as investment banks. In this, reputation is at stake and according to Campbell and Kracaw (885) in financing, the borrower's reputation as well as the financier is relevant. B. The transaction costs approach argument- This approach does not disagree with the statement of complete markets unlike the first approach mentioned. It is in accordance with a no convexities transaction process. The financial intermediaries in this approach work as alliances of borrowers who make use of economies of scale in the transaction process. According to many experts, the concept of transaction costs covers not only monetary transaction costs, but also searches, auditing and monitoring costs. In this instance, the function of the financial intermediaries is to convert particular financial claims into a so-called qualitative asset transformation. Ross (23-40) called it offering liquidity and diversified opportunities. The stipulation of liquidity is a key function for investors and savers and highly for corporate customers, in which the stipulation of diversification is being appreciated in institutional as well as personal financing. This liquidity should play a key role i n asset pricing theory (Oldfield and Santomero WP #95). With transaction costs the basis for the existence of financial intermediation is exogenous. C. Approach based on the regulation of money production - Regulation influences liquidity and solvency within the financial organization or market. It is argued that the capital of the bank affects its refinancing ability, bank safety, and ability to extract repayment from the borrowers (Diamond 414). Regulation as viewed on the basis of legality convenes as a vital factor in financial economy. However, the actions of the intermediaries intrinsically need regulation. The reason is that the banks specifically, are intrinsically illiquid and

Research Essay Example | Topics and Well Written Essays - 1000 words - 6

Research - Essay Example With regards to this, this paper focuses on a peer reviewed article in nursing research. This article takes into consideration the nurse staffing in hospitals and its effects on patients as well as the nurses. This article focuses on staffing of nurse in hospitals. The study aims at estimating the cost of increasing the number of nurses in hospitals and its effects in reducing deaths, besides adverse outcomes. In addition, it looks at various ways of improving the quality as well as safety of the patients. These include investing in training and education, investing in new technology and increasing nurse staffing. In this study, there is provision of data for the purpose of helping hospitals as well as policy makers to consider both social cases and business for investing in increasing the number of nurses in hospitals. This is through estimating the costs of increasing nurses and cost savings as a result of avoided deaths and reduced length of stay (Jack, Peter, Maureen, Katya & Mattke, 2006). In addition, it is through decrease of the outcomes of adverse patients, related to a higher number of nurses in the hospitals. While estimating the increased number of nurses in this study, there are no considerations of the patients’ value and their families, improved reputation of the hospital and the economic value with regard to lower liability. In addition, the study does not consider estimating the potential cost savings as a result of reducing the turnover of nurse through increased nurse staffing. This study significantly relates to my area of study which is nursing. Through this study, nurses are able to understand the benefits of increasing the number of nurses in hospitals. In addition, they became aware of the feasibility of increasing nurse staffing with regards to the costs involved in increasing nurse staffing in hospitals. Peer review is the process which journals use for