Finance Essays - Management Company Stockholders - Free Essay Example

Sample details Pages: 8 Words: 2354 Downloads: 4 Date added: 2017/06/26 Category Finance Essay Type Cause and effect essay Level High school Did you like this example? Management Company Stockholders 1.1 Introduction In business finance management, the main objective of a public-listed company is to maximise the market value of the company and the wealth of the stockholders. Traditionally, stockholders yield the power and authority to hire and fire management should the latter fail to produce high returns with calculated risks for the company. Theoretically, the Finance Manager should act in the best interest of the stockholders by taking appropriate actions that will maximise the stock prices, which is a conservation concept that differs in reality. Don’t waste time! Our writers will create an original "Finance Essays Management Company Stockholders" essay for you Create order This will be discussed in depth in this paper. 1.2 Agency Relationship Problems In a public-listed company, there is a demarcation between the ownership and management due to differing interests, resulting in the possibility of conflicts of interests between the stockholders and the management, usually termed as an agency problem. The stockholders or Principals will appoint the managers or Agents to run the business. This relationship is also known as the Agency Relationship, which give rise to the following problems: When a company becomes public listed, the owner is appointed as the Agent by the Stockholders. The separation of management and ownership of the company results in managers making decisions that are not in-sync with the stockholders objective of maximising their wealth. Managers incurring high expenses by exploiting the perquisites such as expensive office decoration, high remuneration, travelling in business class flights or usage of private jets, claiming high transportation and entertainment costs at the companys expense. This is clearly depicted by the ex-CEO, TT Durai of the National Kidney Foundation (NKF) where it was reported that his annual salary was $600,000 and had lavish personal spending using the monies that were donated to NKF. Managers may adopt an extreme risk aversion attitude and refrain from investing in high risks investments with high returns for fear of losing their job should the investment fail. On the other hand, if they make money, the money will not go into their pockets, instead it will be the stockholders that stand to gain. The managers may act in their own interests rather than those of the stockholders. With no turnover or re-appointment of the managers and executives over the years, powers have been monopolised and resulted in vested personal interest of their own. Hence, this will lead to the employment of friends into the management and employing personal audit teams. Using the example of NKF, TT Durai has held the appointment as CEO for a period, resulting in his over-usage of companys funds for his own personal usage, and collaborated with his friends in fake business deals. Lack of proper governance in the company, which results in manipulation of accounting documents and false reporting of financial issues. An example is another charity saga after the NKF scandal of Ren Ci Hospital and Medicare Centre, which involved the Chairman, a Buddhist monk, Ming Yi. Ming Yi had doctored the accounts books and provided false information to the auditors and the Commissioner of Charities. He was also found guilty in lending the hospitals monies to the Mandala Buddhist Cultural Centre whereby he has a share in it. Poor risk management practice. With the increased complexity of investment options, companies failed to identify and thus implement the appropriate risk management policies should any of their investment options fails. The recent bankruptcy of the Lehman Brothers and the near-bankruptcy of the American International Group (AIG) were good examples of poor risk management practice. If theses agency problems are not properly resolved, in time to come, dire consequences may follow that could lead to the bankruptcy of the company, as illustrated in the agency problems in China Aviation Oil Company (Singapore). 1.3 Agency Problems of China Aviation Oil 1.3.1 Brief Background China Aviation Oil (Singapore) Corporation Ltd (CAO) shocked the stock market with the losses amounting to US$550 million on 30th November 2004 from oil option trading. CAO is a China company that is based in Singapore with its core business in jet fuel. Agency Problems It was revealed during the investigation that CAO has several agency problems, which led to the downfall of the Company. The major problems are as listed as follows: Loss arose after CAO had placed wrong bets on oil price movements. Instead of recuperating from the losses, CAO aggravated the matter by doubling its bets and selling larger put options with longer expirations. CAOs former CEO and Chairman of the parent Company in China made their own decisions instead of adhering to the Companys rules in decision-making process. They collaborated and transferred funds from the parent company to salvage CAO when the put options were rendered worthless. Lack of transparency and proper accounting in that the stockholders were unaware of the situation. Lack of corporate governance and monitoring in the management level by the stockholders. 1.4 Counter-Measures The agency problems faced by CAO could have been avoided if the following counter-measures were adopted; Proper system of corporate governance authorised by the stockholders. From the on-start, the proper procedures prior to the trading of derivations of oil prices should be to seek approval from the stockholders. However, CAOs ex-CEO made his own decision to venture further, after making some profits by purchasing the put options that eventually led to the loss of US$550 millions. This is an obvious personal decision of the ex-CEO. To aggravate the grim situation, he collaborated with the Chairman of the parent company in China to purchase all the worthless put options in order to salvage CAO from collapsing. If proper governance system has been implemented such as imposing restrictions on the authority of the CEO, the situation would have been salvaged. The stockholders were unaware of the situation as there was a lack of transparency in the accounting reporting. The app ointment of a team of external auditors by the stockholders would have put this situation in place with frequent annual or impromptu accounts audits on the management. This would have prevented the forgery of account documents to cover the losses faced by the company. The ex-CEO, CAO was left to run the business without any interference or check-back systems initiated by the stockholders to safeguard their interest. A board of directors can be appointed to supervise the management performance and to ensure that any decisions made are in the best interest of the stockholders. This enables the stockholders to have a hold over the management to ensure that business is profitable and safe. A possible deterrence is to implement a reward and punishment system such as increasing the salaries, bonuses and providing stock options for performance and dismissal for non-performance. An annual review on the re-appointment of the CEO and the executives to prevent possible monopolisation of authority and forming of cliques within the management level. 1.5 Conclusion As clearly illustrated by the CAOs issue, agency problems have to be identified and resolved at the earliest time, if not, the companys stocks will fall and the stockholders will suffer a loss. Relevant counter-measures have to be implemented at all levels to prevent any abuse of authority, fraud and insider trading. 2.1 Introduction In business finance, there are several investment appraisal methods to assist in the determination whether an investment is profitable to partake. These methods include calculation of the Net Present Value (NPV), Average Accounting Return (AAR) and Internal Rate of Return (IRR) to assess the profitability returns of an investment and assessing the Discounted Payback Period to determine the shortest repayment period. Theses individual investment appraisal methods will be further elaborated in the following paragraphs. 2.2 Net Present Value Net Present Value (NPV) is the measure of how much value is added today by undertaking an investment. In simple terms, NPV of an investment is the difference between an investments market value and its cost as shown in the below example: Example 1: Adeline intends to invest in a new project with a start-up cost of $50, 000. The table below shows the cash flows for the new project. The desired rate of return for the investment is at 10% per annum. What is the NPV and advice for Adeline whether she should proceed to invest in the project? Year Project A Cash Flow ($) 1 10, 000 2 30, 000 3 40, 000 NPV for Project: n Cash Flow ($) Disc. F. = 1 / (1 + 0.1)n PV ($) 0 50, 000 1 50, 000 1 10, 000 0.909 9, 090 2 30, 000 0.826 24, 780 3 40, 000 0.751 30, 040 NPV at 10% = $13, 910 The project has a positive NPV, which is $13, 910. This means that the investment is returning more than the desired rate of return of 10% per annum. As such, Adeline should invest in the project. In the calculation of NPV, there are certain advantages and disadvantages as follows: Advantages: It provides a correct advice based on a perfect capital market situation and provides correct ranking for mutually exclusive projects. It gives an absolute value. It allows for time value of the cash flows. Disadvantages: It is very difficult in identifying the correct discount rate. NPV appraisal method requires the decision criteria to be specified before appraisal can be undertaken. In other words, if it is a positive NPV, the project will be accepted, whereas if it is a negative NPV, the project will be rejected. 2.3 Discounted Payback Method Discounted Payback Method determines the period in which initial investment is equal to the sum of the discounted cash flows. The rule states that an investment is acceptable if its discounted payback time is less than some pre-specified number of years as explained by using the same scenario in Example 1: n Cash Flow ($) Disc. F. = 1 / (1 + 0.1)n PV ($) Cumulative PV($) 1 10, 000 0.909 9, 090 9, 090 2 30, 000 0.826 24, 780 33, 870 3 40, 000 0.751 30, 040 63, 910 Initial investment cost is $50, 000. Amount remaining after 2 years = $50, 000 $33, 870 = $16, 130 Remaining year = $16, 130 / $30, 040 x 12 months = 6.4 months Therefore, the discounted payback time = 2 years 6.4 months The advantages and disadvantages in the Discounted Payback Method are as follows: Advantages It takes into account the time value of money. It is easy to understand. It does not accept negative NPV value. Disadvantages It may reject positive NPV investment. It requires an arbitrary cut-off point. It ignores cash flows beyond the cut-off date. It is biased against long-term projects or investment such as Research and Development projects or land-banking investment. 2.4 Average Accounting Return Average Accounting Return (AAR) is similar to NPV, in making capital budgeting decisions. AAR is based on the average accounting return; a project is acceptable if its AAR exceeds a target average accounting return as illustrated: Example 2: Zak set up a car grooming shop with the required investment of $300, 000. The shops lease will expire in 5 years time; the depreciation will be a straight line over the 5 years. Profit is taxed at 20%. The table below shows the revenue and expenses for the 5 years. An average accounting return of 15% per annum is intended. Should this project be accepted? 1st year 2nd year 3rd year 4th year 5th year Revenue($) 150, 000 200, 000 250, 000 180, 000 270, 000 Expenses($) 50, 000 100, 000 110, 000 70, 000 110, 000 Annual Depreciation = $300, 000 / 5 = $60, 000 1st year 2nd year 3rd year 4th year 5th year Revenue($) 150, 000 200, 000 250, 000 180, 000 270, 000 Expenses($) 50, 000 100, 000 110, 000 70, 000 110, 000 Earning before depreciation($) 100, 000 100, 000 140, 000 110, 000 160, 000 Depreciation($) 60, 000 60, 000 60, 000 60, 000 60, 000 Earning before tax($) 40, 000 40, 000 80, 000 50, 000 100, 000 Tax @ 20%($) 8, 000 8, 000 16, 000 10, 000 20, 000 Net Income($) 32, 000 32, 000 64, 000 40, 000 80, 000 Average Net Income = $(32, 000 + 32, 000 + 64, 000 + 40, 000 + 80, 000) / 5 = $248, 000 / 5 = $49, 600 Average book value of investment = $300, 000 / 2 = $150, 000 AAR = $49, 600 / $150, 000 x 100% = 33.07% Since the intended average accounting return is 15% per annum, this investment is considered more than acceptable. However, there are certain advantages and disadvantages whilst using the AAR as follows: Advantages: It is easy to understand and compute. The accounting information is easily available and hence, it is always possible to calculate AAR. Disadvantages AAR is not a true representation of investment as it failed to take into account the time value of money. It uses an arbitrary cut-off point and a benchmark to consider whether an investment is acceptable. It is based on the book value of the investment and not the cash flows and the market value of investment. 2.5 The Internal Rate of Return Internal Rate of Return or IRR is an important alternative to NPV in which a single rate of return for the investment is identified to summarise the merits of a project. IRR only depends on the cash flows and not the rate of interest offered by banks. Based on IRR rule, an investment is acceptable if the IRR exceeds the desired return, if not, it will be rejected. This is shown as follows: Example 3: The initial cost of investment of Project Runway is $10, 000. The cash flows are $3,500 in the first year, $5,000 in the second year and $4000 in the third year. Calculate the NPV at 10% and 20% and the IRR if a 15% return of investment is require. Should this project be taken up? n Cash Flows($) Disc. F. = 1 / (1 + 0.1)n PV($) Disc. F. = 1 / (1 + 0.15)n PV($) 0 10, 000 1 10, 000 1 10, 000 1 3500 0.909 3, 181.50 0.870 3, 045 2 5, 000 0.826 4, 130 0.756 3, 780 3 4, 000 0.751 3, 004 0.658 2, 632 315.50 543 IRR = 10 + (315.50) x (15 10) / 315.50 + 543 = 10 + (1577.5 / 858.5) = 10 + 1.838 = 11.84% Since the expected rate of return is 15%, the above project should not be undertaken. The following are the advantages and disadvantages of IRR: Advantages: It gives the results in terms of percentage in which management is familiar. It takes into account the cash flows and the time value of money. Disadvantages: Since the results are in percentage, it ignores the difference in project magnitude and hence, is unreliable when evaluating projects of great difference in size. IRR decision rule will break down for multiple IRR calculations. IRR cannot be depended on to provide correct advice for mutually exclusive investment decisions. References 1. Commercial Affairs Department 2007, Singapore, Case of China Aviation Oil, viewed on 10 Sep 08, lt;https://www.cad.gov.sg/serv/pro/cas/Case+of+China+Aviation+Oil.htmgt; 2. China Aviation Oil (Singapore) Corporation Ltd, 2005, China Aviation Oil (Singapore) Corporation Ltd announces findings of PricewaterhouseCoopers pursuant of its investigations, viewed on 10 Sep 08, lt;bankrupt.com/misc/ChinaAviationPWCReportAnnouncement.pdfgt; 3. Chong Chee Kean 2008, Ren Ci Probe Ten Charges Against Ming Yi, The Straits Times, viewed on 17 Sep 08, lt;https://www.straitstimes.com/Free/Story/STIStory_258042.htmlgt; 4. Kent, Bakar H, Powell, Gary E (2005), Understanding Financial Management A Practical Guide, Blackwell Publishing. 5. Malcolm Borthwick, 2005, Investors throw China Aviation a lifeline, BBC News viewed on 10 Sep 08, lt;https://news.bbc.co.uk/go/pr/fr/-/2/hi/business/4074404.stmgt; 6. Seah Chiang Nee 2007, NKF Scandal Ripples widely felt, The Star viewed on 17 Sep 08, lt;https://www.littlespeck.com/content/politics/CTrendsPolitics-070113.htmgt; 7. Wayne Arnold, 2005, After crash, China Aviation Oil offers creditors sweeter repayment deal, International Herald Tribute, The Global Edition of the New York Times viewed on 10 Sep 08, lt; https://www.iht.com/articles/2005/05/12/business/chiav.phpgt;

Assisted Suicide And The Medical Field Essay - 2632 Words

When it comes to the topic of people dying, it is generally a hard to get people to discuss. It is something that does not come easy for people to talk about. No one wants to talk about a life after they die. Assisted suicide or Physicians aid-in dying (PAD) use to be something that you hear about every now and then but is starting to become more commonly discussed not only in the medical field but in general. It is starting to come to people s attention because to some it is viewed as immoral while to other people see it fit for people who are suffering from horrible diseases who are dying. Physician aid-in-dying (PAD) refers to a practice in which a physician provides a competent, terminally ill patient with a prescription for a lethal dose of medication, upon the patient s request, which the patient intends to use to end his or her own life (Braddock). Assisted suicide has been outlawed in a most states through popular vote. It is only legal in a few states though. When a patient has been in the hospital and there is no way for them to possibly be cured they sometimes begin to become depressed and its not hard for doctors to notice a change in their patients. Some people refer to these individuals as terminally ill and not able to make decisions on their own. When some patients are sick they truly believe that ending their own life would make things so much simpler for everyone around them. Of course their family does not want them to die, but it can be a lot of hardShow MoreRelatedThe Medical And Legal Fields About Assisted Suicide1667 Words   |  7 PagesComp. 1 10 November 2015 Life, Liberty, and the Pursuit of a Means to an End There are a multitude of interpretations within both the medical and legal fields about assisted suicide. The benefits of assisted suicide for a terminally ill individual are notably momentous. However, the argument is not extricated from opposition concerned with the obligations of the medical community. 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Quiz econ Free Essays

When costs fall, the supply curve increases or shifts to the right. Since changes in producer costs is not a demand factor, there would be no impact on demand. Points Received: 10 of 10 Comments: Question 2. We will write a custom essay sample on Quiz econ or any similar topic only for you Order Now Question : (TCO A) Ceteris paribus, Brand A Plain potato chips and Brand B Plain potato chips are substitutes in consumption. The price of Brand A Plain potato chips increases. (4 pts. ) a. What happens to the demand for Brand B Plain potato chips? (6 pts. ) b. What happens to the demand for Brand A Plain potato chips? a) As price of A rises demand for A falls so that demand for B rises. The demand curve for B shifts to the right b)As price of A rises, demand for A falls due to law of demand. The demand curve moves along the upward direction. Instructor Explanation: a. When the price of a substitute good rises, the demand for the other good increases. Price of Brand A rises demand for Brand B increases. b. This tests your ability to distinguish between a change in demand and a change in quantity demanded. When the price of Brand A rises THERE IS NO EFFECT ON THE DEMAND for Brand A potato chips. Remember that the Price of the good itself is NOT a Determinant of Demand for that good. Points Received: 6 of 10 Comments: In (b) when the price ofa good changes that only affects quantity demanded. The demand for Brand A remains unchanged (no shift of the demand curve). See instructor explanation, Chapter 3, and the tutorial in week 1 on the difference between a change in demand and a change in quantity demanded. When you say there is a change in demand you are saying that something other than price has SHIFTED the demand curve. Question 3. Question : SA 3. (TCO A) The number of wheat producers decreases. (4 pts. ) What happens to the supply of wheat? 6 pts. ) What happens to the demand for wheat? 100 20†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ 300 ) It the number ot wheat producers decrease supply tor wheat will decrease and prices might go up. b) The demand for wheat will stay the same. Instructor Explanation: Instructor Explanation: The supply of wheat would decrease, or shift to the left. The number of suppliers is obviously a supply factor, so the less suppliers thare are, the smaller would be the supply. The demand for wheat remains the same as before because the number of suppliers is a supply factor, not a demand factor. Points Received: 10 of 10 Question 4. Question : (TCO A) A market is in equilibrium with equilibrium Quantity of MEQ and equilibrium nce of MEP. (2 pts. ) a. What happens to Market Equilibrium Quantity (MEQ) if there is an increase in Demand? (4 pts. ) b. What happens to Market Equilibrium Price (MEP) if Supply decreases as Demand increases? (4 pts. ) c. What happens to Market Equilibrium Quantity (MEQ) after there has been an increase in Supply followed by a decrease in Demand which is followed by another increase in Supply? ) If their is an increase in demand then the price will rise because their is a move from Dl to D2 b)When supply decreases prices go down and demand increases until their is a new equilibrium. c)an increase in supply will lower rices and move sl tos2, a decrease in demand will lower prices, following an increase in supply will lower prices, overall the price will go down. Instructor Explanation: a. MEQ increases b. MEP increases c. MEQ is indeterminate as the sh ifts force Quantity in different directions and the sizes of the shifts are not given. Points Received: O of 10 Comments: Please see instructor explanations for all 3 parts here. You have not answered the questions asked. Question 5. Question : The following table shows part of the demand function for tickets to an outdoor summer concert by a popular singing group: pnce (P)†¦ quantity (Q) 5†¦. 180 (2 pts. ) What is demand elasticity in the $10- $20 price range? Is demand elastic, inelastic, or of unitary elasticity? Calculate the value and show all of your work. Be sure to use the midpoint equation used to determine elasticity. b. (4 pts. Assume demand elasticity is 1. 3 in the $35 – $50 price range. In this range of demand, by what percentage would quantity demanded change if price increases by 9 percent? Show your detailed calculations. (4 pts. ) What is the effect of a price decline from $35 to $20 on total revenue for the event? Does total revenue (TR) increase, decrease, or remain the same? By how much? Show your detailed calculations. a) 200/300 = . 6667 10-20/20=. 5, . 6667/-. 5=1. 3334, demand elastic b)38. 1 20*300 =6000 Total revenue decreases by 300 Instructor Explanation: a. Using the recommended mid-point formula for calculating elasticity one can see that demand is slightly inelastic in this range since the calculated elasticity value equals 0. 746 which is slightly less than 1. 0. Ed † [change in Q / (sum of Q/2)] / [change P/ (sum ofP/2] = [(500- 300)/800/2] / [(20 -10)30/2] = . 50/-. 67 = 1. 7461, rounding.. b. For this question the point elasticity formula is best since it contains all of the mportant elements in the one formula. Since Ed = %change Q / %change P, according to the point elasticity formula rearranging the equation and solving for %change Q, gives us %change Q = (%change P)(Ed). Thus, in this case, %change Q (9) (1. 3) = a decline of 11. 7 percent. c. This question can be answered in 2 ways: (1) You could calculate the elasticity in the $35 – $20 range. This is [(300- 180) / 480/2] / [(20- 35) / 85/2] = [120 / 240] / [15 / 43] = 0. 50 / 0. 55 = -0. 909, rounding. Since we have slightly inelastic demand in this range we know that lowering price will esult in an DECREASE in total revenue; or (2), Simply calculate the total revenue at the two prices at $20 total revenue is $20 x 300 = $6,000, and at $35, total revenue $35 x 180 = $6?00. o total revenue DECREASES when the pnce lowered to $20 from $35. Points Received: 6 of 10 Comments: Please see instructor explanations for the 1st and 2nd parts here. Question 6. Question : (TCO B) Use a hypothetical example to illustrate whether you agree or disagree with the following statement: â€Å"Unemployment will go up more if the demand for labor is inelastic because the demand tor labor will decrease more when you nave inelastic emand than if demand were elastic. † Explain why, using hypothetical numbers to illustrate your case. Disagree, Unemployment will not go up if the demand for labor is inelastic. demand for labor would be inelastic when the change in demand for labor is less than or equal to 1, and it will not have an impact on unemployment when the change in labor is elastic it is greater than or equal to 1 so it will have an impact on unemployment. Instructor Explanation: The unemployment impact would be greater in the case of elastic demand. Starting with an equilibrium quantity f labor equal to, say, 100 units, an increase in the minimum wage would reduce the quantity of labor demanded. Let us say that demand is inelastic and that Ed = 0. 5. Suppose the minimum wage increases by 10 percent. The quantity of labor demanded would fall by = 5 percent. Alternatively if demand was elastic such that Ed= 2 (say), then the quantity of labor demanded would fall by = 20 percent. Clearly, unemployment is impacted far more in the latter case (elastic demand) than it is in the former (inelastic demand). Points Received: 5 of 10 Comments: Please see instructor explanation regarding the reason why the tatement is false, and the hypothetical example. Question How to cite Quiz econ, Papers

Sustaining Relationship with Young People- myassignmenthelp.com

Question: Discuss about theSustaining Relationship with Young People for Growth. Answer: Introduction Sustaining a relationship with that of a young person is crucial for his healthy growth and development. The teenagers are unique and they often prove to be a self-contradictory group. The young people look for peer acceptance and at the same time strive for the element of individuality. The young people feel invincible but at the same time they are insecure. There are some young people who want to challenge the authority. The young people want to experience independence along with that of selfhood (Arbeit et al. 2016). They like to challenge the power of other people and the boundaries should be articulated very carefully when dealing with them. This essay throws light on the elements that can help in establishing a relationship with that of a young person. It discusses regarding the pitfalls that one should avoid and the significance of closure. This essay also elaborates regarding how one can build a relationship with a young person who is addicted to drug and alcohol. Discussion A key element in establishing a positive relationship with a young person is that they should be paid proper attention that can help in the fostering of a high quality relationship. An important aspect that can help in developing a healthy relationship with a young person is by accepting and celebrating the difference. The world can be perceived in different manner. It is important to know the view point of the young people that can help them in maintaining their self-esteem. It is important that a young person should be listened to that can help in boosting the self-esteem of a person. Understanding the view point of the young people is an important element pertaining to successful interaction with that of a young person. Active listening is the right method that can enable us to understand the thought process and want of the young person (Shepherd, Luebbers and Ogloff 2016). The restatement of their message and the feedback process helps in setting apart active listening. Technolog y has destroyed the ability of building real rapport and providing time to the young people can help in building a good relationship with the young people. It is important to be attentive and being present in time so that we can understand the problems of other people. Good communication skills are integral for developing a positive relationship and it can prove to be of great benefit for a young person. Empathizing with the problems of the young people can help in building a strong bong with them (Howe et al. 2018). Hormonal changes take place in the young person that leads to behavioural changes in them. The young people are subject to increased aggression along with that of mood swing. The massive changes that take place at the hormonal level at the stage of puberty lead to erratic behaviour on the part of the young person. It is important to understand things from their viewpoint at this stage so that they can adjust properly within the environment. The teenagers have the tendency of feeling things at a more extreme level and they are more prone to becoming sad, excited or happy (Bennett et al. 2016). The young people struggle in recognising the emotions of other people and they become extremely self-centred at this stage. They cannot understand the effect of their action on that of other people. An important element that can help in sustaining relationship with a young person is that they should be left to themselves and should not be disturbed by the family. The pitfalls that should be avoided when dealing with a young person is that of boundary crossing. The parent-child relationship can be said to be an emotionally intense social tie. The relationship can be said to be supportive but it can also give rise to feelings pertaining to irritation along with tension. Boundary crossing when dealing with a young person can set forth interpersonal tension (Hartas 2016). Parents want to know what their children is doing all the time that can give rise to friction within the relationship. The young people often feel intruded upon and the parents have a tendency of being more invested with the relationship as compared to that of the children. It is important to maintain a distance when dealing with a young person and disclosing too much of oneself can prove to be detrimental in relation to establishing a sound relationship. Personality differences along with that of parents who provide advice can cause more problems within that of the relationship . The basic differences in personality can give rise to conflict and the young people should be given proper room so that they do not feel stifled (Aked 2015). Change along with transition is an inevitable part of life. It is important that one properly terminates with any kind of population with whom they are working. In the event of dealing with a young person, conflicts and disagreements may occur at some point. It is important to forget the conflict so that it does not dampen the relationship. Closure refers to the ending of something. Emotional closure is important when dealing with a young person because the young person often exhibits rough and aggressive behaviour (Kelly et al. 2017). It is important to forget certain things so that the relationship with the young person is sustainable. Closure refers to an acceptance regarding what has happened and it means honouring the change. There are disagreements that are sure to occur when dealing with a young person and there are certain things that should be forgiven in the young person (Giordano, Stare and Clarke 2015). The young people turn to alcohol and drugs so that they can cope with stress and relate with the peers. They also get drawn into these kind on intoxications so that they can rebel against that of the authority. Curiosity also drives them to take recourse to drugs along with that of alcohol. They want to be accepted by that of the friends that compels to take up these regressive habits. In order to sustain relationship with a young person who takes drugs along with alcohol I would try to build rapport along with trust with them. The benefits of volunteering are of immense nature and it can help an individual in dealing with depression and loneliness. I would take the young children who is addicted to drugs along with alcohol to an animal rescue shelter. I would take him to Australian Animal Rescue who are always in need of volunteers. There are many stray dogs and cats who are left in a bad condition on that of the streets and we would together offer our services to help these helples s animals. The rescued animals are well cared for in the Animal Rescue Centre and we could offer our valuable services to offer help to these animals (Rise et al. 2014). It will provide him with fulfilment and help him in overcoming his hunger for alcohol and the drugs. We can together take steps to cure the animals out of their miserable condition that can help in soothing the emotional distress of the young person addicted to that of drug along with alcohol (Wnuk 2015). We shall go for camping in the Mitchell Falls, Mitchell River National Park and the spectacular sight of the unique Mitchell Falls can soothe the soul of an anguished person. This remote terrain in Australia will provide us with enough opportunity to engage in deep conversation. We can discuss regarding the things that have troubled him that have caused him to get addicted to the different kinds of malpractices. Talking freely with the person can help him in revealing his innermost feelings and he would feel free to confide in his secret fears. The desire to help should come from the right place and wrong attitude can lead to more harm than that of good. They should always feel well-supported that can make them forget the inner worries. Addiction can leave the victims completely separated from that of the family and friends so such a person will need emotional support (Lehman and Dixon 2016). I will express sincere concern and making them know that they are important can make them fe el wanted and safe. I shall not be judgemental when dealing with them that can help them in clearly expressing the way they feel. There are certain scenarios that should be discussed with him like what were the incidents that propelled him to take up such an addiction (Petrova et al. 2015). I shall communicate to him regarding the negative impact pertaining to the addiction that can help him in understanding the severity of the situation and what this path may eventually lead him to. Sharing feelings with the other people in the camp can help him in relieving him of stress and help him in regaining his mental composure. We shall together attend the Melbourne International Arts Festival that is held in the month of October. The international arts event is a thriving event in which different kinds of cultural festivals are held like that of dance, music along with that of art. The Melbourne Festival is a significant event within that of the Australian Cultural Calendar. The festival is renowned for offering family-friendly event that can help the young person in getting rid of the intoxication related problems. The Melbourne Festival hosts performance by that of renowned artistic companies that can help him in rising above the problems of his life. The festival helps in the connection of different kinds of art forms and presents unique events. The event will prove to be of great help for my intoxicated companion and the different performances will make him feel that there is a lot more to achieve in life (Earp et al. 2017). The dramas held will reveal incidents inspired by that of real life and he wil l be able to look at life from a different perspective. He will come to know about the problems that cripple the human mind and how one can be of help for another human being. This will help him in rising above the difficulties and successfully assimilate within the society. The festival celebrations can help in relieving stress of the person and make him feel to be an important part of the society. Conclusion: The young people are unique and they often act in a contradictory manner. Paying proper attention to that of the young person can help in building a relationship of high quality. The differences of the young person should be celebrated and accepted so that they can assimilate perfectly within the society. The hormonal changes taking place in the young person often lead the adolescent to behave in a strange manner. Viewpoint pertaining to the young people should be understood that can help then in preserving their self-esteem. The opinions of the young person should be heard so that they feel themselves to be an integral part of society. Coping with stress becomes easier for the young person if they start consuming drugs and alcohol. Rapport along with trust should be built with a person who is addicted to drugs and alcohol. The young people want to rebel against the forces of authority which is why they take up the bad habits. Volunteering in an Animal Rescue Centre can help in keepi ng the addicted person engaged and it can help them to deal with loneliness. It will help the young person to forget the worries in his life and keep him mentally healthy. Camping in the Mitchell falls can help in soothing the soul of a troubled person. Camping will be able to provide great amount of opportunity that will enable us to converse about different kinds of topics. Attending the Melbourne International Arts Festival in October can provide abundant opportunity for relieving the mind of the young person addicted to drugs and alcohol. This thriving event can provide opportunities for different kinds of activities like that of dance, music and art. References: Aked, J., 2015. What's different about how volunteers work? Relationship building for wellbeing and change.IDS Bulletin,46(5), pp.29-42. Arbeit, M.R., Hershberg, R.M., Rubin, R.O., DeSouza, L.M. and Lerner, J.V., 2016. Im hoping that I can have better relationships: Exploring interpersonal connection for young men.Qualitative Psychology,3(1), p.79. Bennett, D., Sunderland, N., Bartleet, B.L. and Power, A., 2016. Implementing and sustaining higher education service-learning initiatives: Revisiting Young et al.s organizational tactics.Journal of Experiential Education,39(2), pp.145-163. Earp, B.D., Wudarczyk, O.A., Foddy, B. and Savulescu, J., 2017. Addicted to love: What is love addiction and when should it be treated?.Philosophy, psychiatry, psychology: PPP,24(1), p.77. Giordano, A.L., Stare, B.G. and Clarke, P.B., 2015. Overcoming obstacles to empathy: The use of experiential learning in addictions counseling courses.Journal of Creativity in Mental Health,10(1), pp.100-113. Hartas, D., 2016. Young people's educational aspirations: psychosocial factors and the home environment.Journal of Youth Studies,19(9), pp.1145-1163. Howe, D., Kohli, R., Smith, M., Parkinson, C., McMahon, L., Solomon, R., Simmonds, J., Cooper, A., Dutton, J., Fairtlough, A. and Walsh, J., 2018.Relationship-based social work: Getting to the heart of practice. Jessica Kingsley Publishers. Kelly, J.F., Fallah-Sohy, N., Cristello, J. and Bergman, B., 2017. Coping with the enduring unpredictability of opioid addiction: An investigation of a novel family-focused peer-support organization.Journal of substance abuse treatment,77, pp.193-200. Lehman, A.F. and Dixon, L. eds., 2016.Double jeopardy: Chronic mental illness and substance use disorders. Routledge. Petrova, H.A., Zavarzina, O.O., Kytianova, I.P. and Kozyakov, R.V., 2015. Social and personal factors of stable remission for people with drug addictions.Psychology in Russia,8(4), p.126. Rise, J., Aar, L.E., Halkjelsvik, T. and Kovac, V.B., 2014. The distribution and role of causal beliefs, inferences of responsibility, and moral emotions on willingness to help addicts among Norwegian adults.Addiction Research Theory,22(2), pp.117-125. Shepherd, S.M., Luebbers, S. and Ogloff, J.R., 2016. The role of protective factors and the relationship with recidivism for high-risk young people in detention.Criminal Justice and Behavior,43(7), pp.863-878. Wnuk, M., 2015. Determining the influence religious-spiritual values on levels of hope and the meaning of life in alcohol co-dependent subjects receiving support in self-help groups.J Subst Use,20, pp.194-199.

Marketing environment and buyer behaviour Essay Example

Marketing environment and buyer behaviour Paper The external marketing environment (1 000 words) Choose two environments within the external environment to analyses demographic, socio-cultural, economic, technological, natural, competitive and political and legal (500 words per environment) Provide a definition of each chosen environment and justify in relation to your product (4 marks) Explain how each chosen environment impacts your product, using evidence from your research (business sources) to justify (20 marks) Discuss the opportunities presented for your chosen product in each environment (8 arks) Discuss the threats presented for your chosen product in each environment (8 marks) 1) Political First of all, political factors refer to the stability of the political environment and the attitudes of political parties or movements. This may manifest in government influence on tax policies, or government involvement in trading agreements. Political factors are inevitably entwined with Legal factors such as national employment laws, international trade regulations and restrictions, monopolies and mergers rules, and consumer protection. The difference between Political and Legal factors is that Political refers to attitudes and approaches, whereas Legal factors are those which have become law and regulations. Legal needs to be complied with whereas Political may represent influences, restrictions or opportunities, but they are not mandatory. One of the important aspects that Apple Inc. Just consider is a market and product launching regulations. We will write a custom essay sample on Marketing environment and buyer behaviour specifically for you for only $16.38 $13.9/page Order now We will write a custom essay sample on Marketing environment and buyer behaviour specifically for you FOR ONLY $16.38 $13.9/page Hire Writer We will write a custom essay sample on Marketing environment and buyer behaviour specifically for you FOR ONLY $16.38 $13.9/page Hire Writer In Europe, many residents do not even have a land line phone system, and the mobile phone is the primary and only) phone number. Thus, the political environment is more possessive Of the cellular standards. This is also one of Apples biggest weaknesses. Keep in mind there are different political systems in different countries that must agree on the same cellular standard. The cellular standard must be transparent to a country that is a monarchy as well as a socialist country. The E has made it clear that the political aim of the governments role in cellular standards is to entertain more competition that shares the same standards. One more issue that Apple must confront is the apparent De facto reductionism of Monika and Ericson. These two companies are extremely important to their economy, as Monika has been mentioned as one of Rupees most important companies. The future is pretty safe for those two telecommunications giants, and Apple will be at a disadvantage if it must wrestle with them. There is an argument that with cellular standard conforming to European standards, US companies such as Motorola and Apple may be at a disadvantage in keeping up with Rupees cellular manufacturers. One can argue that this can be supported by the 2. G release of the phone Europe as opposed to the G standard. Apple can argue the European standards are exclusionary and discriminatory as Apple has invested large amounts of money into R standards. At present, mobile devices based on current US technology are now locked out of the E market since the W-CDMA standard has been converted into a requirement. (Wallis- Brown, Von Hellene, et al, 2000) The development of the phone under two different standards is a burden for Apple. The ELI arguably also protects its two telecommunication giants, Monika and Ericson. Apple is not alone in this fight, as Korean manufacturers such as LEG and Samsung face these burdens. Apple also shares this dilemma with Motorola on IIS soil. However, these competitors are established companies that have introduced product since the early adopter phase of mobile technology. Apple is a late entry in mobile phones. The development of the phone must balance the development of the phone to conform to US standards, E standards, and still maintain its uniqueness that the Apple brand has always maintained. 2) Technological The technological environment refers to new technologies, which create new product and market opportunities. Technological developments are the most manageable uncontrollable force faced by marketers. Organizations need to be aware of new technologies in order to turn these advances into opportunities and a competitive edge. Technology has a tremendous effect on life-styles, consumption patterns, and the economy. Advances in technology can start new industries, radically alter or destroy existing industries, and stimulate entirely separate markets. The rapid rate at which technology changes has forced organizations to quickly adapt in terms of how they develop, price, distribute, and promote their products. The four Ups of marketing are directly affected the moment a new sign is created. New technology is an ever- growing competitive industry based on consumer demand. Consumers want to do everything faster and easier, thus causing companies to combine their technologies into one product. The idea of multi-media device is not new, mobile phones have been able to make calls and access the internet for some years now. With the latest craze of listening to music outside of the car and Disdains becoming a history channel special, digital music; MPH has skyrocketed. With many Pads supporting a Windows based SO, consumers were able to buy a memory arid, load music, insert that into their phone, and listen via Windows Media player. The phone is different because it allows music to be stored directly onto either a 4 or KGB hard drive (Apple Inc. , 2014). The phone uses a new multi-touch display and new software so everything can be controlled by touch. It capabilities of listening to music and watching videos are amazing compared to standard software on Pads and other multi- media phones currently available. The phone capabilities are the same, you just simply touch a name and press call on the display, and there are no buttons to press. The internet allows you scroll web pages while downloading, just like a computer. However, in the international market, if Apple were to enter into Europe, they would be faced with a challenge of accommodating their technology. Rupees largest mobile phone service provider, Videophone, uses G/LISTS technology, which the phone does not support. Phone currently operates on GSM; however rumors have been spread about the possibility of Apple developing two versions of their phone. If a contract between Videophone and Apple was generated and the two versions of the phone were available for OTOH markets, the launch of the phone would be astounding. As technology is growing fast it is a big advantage for Apple because if it continue innovates like today it will be able to keep a pace of the high technology growth in the world. Increasing demand in technology can lead the company to new success. One of the biggest mobile wireless developments in 2008 was the increased availability of G mobile phones, such as Apples phone G. Moreover, Sprint is planning to offer a Woman based G services by 2009. Other mobile providers (including AT T, Verizon wireless, and T-Mobile) are currently purporting new Long Term Evolution (LET) G technology based on the SIMMS cellular standard. Chips are already developed that support both types of G networks and are expected to be included in Notebook computers, mobile phones, digital cameras and other consumer devices. Moreover, the mobile cloud is the recent trend, which includes not only giant carriers and Mobile device makers (Apple, Samsung), but also a full convergent of internet based companies and software giants (Amazon, Google, Face book, Microsoft and more). Apple launched cloud in October 201 1 and this new service stores music, applications, photos, calendars, intact, and documents and wirelessly pushes them to multiple ISO devices, Macs and Windows-based computers (Apple Annual Report, 2011 Apple Inc. Is on top of the market because of investing highly in research and product development. Moreover, innovation has shown big portion of this brand and has shown to pay out (Apple Inc. , 2014). B. Consumer buyer behavior (1500 words) What type Of buying decision is used for your product? Justify your answer by considering the level of involvement and other factors influencing this (10 marks) How might need recognition be triggered for your product? Explain how one factor influences this stage (1 0 marks) How could information search be undertaken for your product? Explain how one factor influences this stage (10 marks) Provide an example of a typical evoked set for your product and describe how alternatives could be evaluated for your product. Explain how one factor influences this stage (10 marks) How might the decision to purchase be made for your product? Explain how one factor influences this stage (ID marks) How might a consumer undertake post-purchase evaluation for your product? Explain how one factor influences this stage (10 marks) Studying consumer attitudes toward brands is of paramount important because thats what comes closest to revealing if a consumer intends to buy the brand in question. The Attitude toward object model is suitable for measuring attitude towards a product category or specific brands. According to this model, the consumers attitude toward a product/brand is a function of the presence (or absence) and evaluation of certain product-specific beliefs and/or attributes. That explains the number that turned up at various launches of the phone across the country. This also explained by the Attitude toward behavior model. This model is designed to capture the consumers attitude toward behaving or acting with respect to an object rather than the attitude toward the object itself. The appeal of this model is that it seems to correspond somewhat more closely to actual behavior than the attitude toward object model. Now this where Apple fails. There are 5 important steps that a consumer makes before they decide upon purchasing a product or using a service. What goes on in their head? Understanding these processes will help with developing marketing strategies targeted to the consumer. Brand awareness plays a huge role in the consumer decision making process. When consumers show an interest in buying a certain product, many of them will follow a decision making process which follows the next steps: problem recognition (unsatisfied need), information search, evaluation of expected outcome, purchase, post- purchase behavior. This process is a guideline for studying the way consumers make decisions, but it is important to remember that they can abandon the whole idea at any stage, and they do not necessarily continue with this decision making process up to a purchase. Consumer behavior is influenced by many things, including environmental and marketing factors, he situation, personal and psychological factors, family, and culture. Businesses try to figure out trends so they can reach the people most likely to buy their products in the most cost-effective way possible. Businesses often try to influence a consumers behavior with things they can control such as the layout of a store, music, grouping and availability of products, pricing, and advertising. While some influences may be temporary and others are long lasting, different factors can affect how buyers behave whether they influence you to make a purchase, buy additional products, or buy nothing at all. The first stage in the buying decision is problem recognition. Problem recognition occurs when a consumer is faced with an unsatisfied need (the need for a more convenient mode of communication) and desires a fulfilled outcome that satisfies this need. Problem recognition is triggered by either external stimuli (advertisements) or internal stimuli (hunger or thirst). Consumers can recognize unfulfilled wants in several ways, for example when an old product is not performing as well as it should, or when consumers are made aware of a new technology that will enhance their current product experience. The core off marketers goal is to make consumers aware of possible unsatisfied needs, and to show the consumer how the product or service will fulfill that need. Look at how Steve Jobs came along with the phone. No one needed it, but he made sure that the phone was something that everyone needed to have. Human beings are social, and they need people around them to interact with and to discuss various issues in order to reach better solutions and ideas. We learned that these social factors typically consist of the consumers small groups, their family, and their social roles and status. We also learned about social roles such as Initiators, Influences, Deciders, Buyers, and Users. These roles play a part within social groups consisting of friends and families in aggravating a buyers hunger for a certain product. The second stage in the buying decision is the search for information and the organization of this information within the individuals frame of reference. The information search involves exposure to different sources, such as promotional material and displays of the product, actively researching the product, or relying on historic information in the consumers mind, such as reconciled ideas about a product or a previous experience (good or bad) with such a product (our personal and psychological factors). Affecting consumer buyer behavior, Psychological Factors, are the consumers own personality is constructed by the unique psychological characteristics that create relatively consistent, lasting behavior in response to their own environment. These characteristics include Self Concept, Motivation and the five motivational needs, Perception, Learning, and Beliefs and Attitudes. In Summary, all Of these factors and stimuli illustrate an important point: nonusers are complicated. Not all buying decisions rely this heavily on the gathering of information, and the extent to which a consumer conducts an information search depends largely on the perceived risk of the purchase. When we are confronted with a decision, emotions from previous, related experiences affix values to the options we are considering. These emotions create preferences which lead to our decision. We are capable of rationally processing information about alternative choices; but were unable to make decisions because they lacked any sense of how they felt about the options. However, for consumers, perhaps the most important characteristic of emotions is that they push us toward action. In response to an emotion, humans are compelled to do something. In a physical confrontation, fear forces us to choose between fight or flight to insure our self-preservation. In our daily social confrontations, insecurity may cause us to buy the latest phone to support our positive self-identity. The third stage of the decision making process, is the evaluation of expected outcome. The consumer is now ready to make a decision based on all the information gathered, and those discarded. The consumer has now developed a set of criteria against which he will base this decision, and will most likely be able to narrow his search down to only a few products. The goal of the marketing manager is to determine which attributes of a product will convince a consumer to buy it. Recent studies have shown that attributes which plays on emotions (such as perceived trustworthiness, perceived comfort, perceived excellence or perceived status) are the ones that weighs the heaviest in decision making processes. This stage of the decision making process is critical, because many consumers are not able to make a rational session by weighing up alternatives, and if they have reached this stager the more emotional consumer has reached an uncritical blindness in which they become obsessed with buying the product. The next step in the decision making process is to purchase the product. The consumer has decided which product to buy, or not to buy anything at all. If he decides to make a purchase, the next step in the process is an evaluation of the product after the purchase. While demographic variables such as income, education, and marital status are important, we will look at gender, age, and stage of life and how they influence purchase decisions. Men and women need and buy different products. They also shop differently and in general, have different attitudes about shopping. You know the old stereotypes. Men see what they want and buy it, but women try on everything and shop till they drop. Theres some truth to the stereotypes. Interestingly the process does not stop at the point of purchase because there is a stage five called the post-purchase evaluation. The process continues even when the product or service is being consumed by the individual or business. So if it doesnt meet your needs or solve your problem o can take action to improve the product or service. Your actions at this point might inform other potential buyers who would be keen to hear about your experiences. The level of satisfaction that the consumer will experience will depend largely on how many of his expectations were met. Lets look at an example based upon buying a new Phone. The first stage is likely to be that you have a need for communication or access to the Internet, or problem because you cannot interact with friends using social media. So the second stage is where you speak to your friends and surf the Internet cooking at alternatives, which represent stage two or your information search. As a buyer you might visit a local phone store and speak to the sales staff to help you complete stage three, I. E. Your evaluation of alternatives. Stage four is the selection of product and you go and make your final decision and buy your Phone from a local store or using an e-commerce website. Stage five involves your post-purchase evaluation whereby you use the phone and have a positive, negative or mediocre experience of the product. If it doesnt satisfy your needs you take action and more importantly youll tell ethers of your problems. If youre pleased with the product, you will tell your friends and this will influence stage two (their information search) when they decide to buy an Phone.

Hatchet3 essays

Hatchet3 essays The book I am reading is called Hatchet. It is about Brian Robeson, whose parents are divorced. It starts off that he is flying to visit his father in the Canadian wilderness. His parents are divorced because his mom is seeing another man, and Brians father doesnt know. He refers to this as the secret. This flight to see his father in the Canadian wilderness is Brian's first time in an airplane. He explains this to the pilot and tells him that he is scared. The pilot feels sorry for Brian and decides to show him that flying is not very difficult. He lets Brian take the steering control and direct the line of flight for awhile. Just when Brian thinks that everything is going well, the pilot has a heart attack and dies. Brian knows he must land the plane himself or die. He tries to use the radio, but it does not work. He knows that if he hits the trees, he will die, so he decides to land in the water of a lake. When the plane hits the water, he flys out through a window. He swims to the bank of the lake for awhile to rest. Brian knows he needs food and shelter to survive so he sets out to find both. He was very careful not to get lost or go too far from the lake where he crashed. He found a cherry tree and because he was very hungry, he ate his fill. He filled his windbreaker with cherries to eat later and then managed to find a cave for shelter. He slept very well, but in the morning when he awoke, he saw a bear in the cave. He was terrified, because the bear was only about 20 feet away eating his cherries out of his windbreaker. The bear only looked at Brian and then left. The cherries must have been enough to curb his appetite! The discovery of how to make a fire was very important to Brians survival. He needed to have one at the mouth of the cave to protect him from wild animals, and to signal for help. He discovered it by mistake when a porcupine wandered into his cave. It was dark in the cav ...

Climate Change and Its Impact on Health Essay Example | Topics and Well Written Essays - 3500 words

Climate Change and Its Impact on Health - Essay Example Solar radiation powers the climate system. Here we are trying to explain the factors, which are affecting our climate change, and how the human activities are affecting the climate mostly in negative way. Further we will try to understand how the global warming the most visible aspect of climate change affects our whole climate system including humans worldwide. Finally we will discuss the ill effects of these climatic changes on human health as a whole. Apart from environmental perspective we would discuss this phenomenon on the basis of social and economical development and how we can manage these changes effectively and equitably. Key-words: Global warming, Current Situation Analysis (CSA), Qualitative Research Methodology (QRM), Focus Group Discussions, In Depth Interviews, Key Informant Interview, questionnaire, Free Listing, Green House Gases, Emissions. Introduction: There can be no clearer illustration of the need for human beings to act globally than the issues raised by the impact of human activity on our atmosphere. That we all share the same planet came to our attention in a particularly pressing way in the 1970's when scientists discovered that the use of chlorofluorocarbons (CFC's) threatens the ozone layer shielding the surface of our planet from the full force of the Sun 's ultraviolet radiation. Damage to that protective shield would cause cancer rates to rise sharply and could have other effects, for example, on the growth of algae. Getting rid of CFC's has turned out to be just the curtain raiser; the main event is climate change, or global warming. Climate change is a very different matter. The scientific evidence that human activities are changing the climate of our planet has been studied by a working group of the Intergovernmental Panel On Climate Change (IPCC), an international scientific body intended to provide p olicymakers with an authoritative view of climate change and its causes. The Third IPCC report (2001) finds that our planet has shown clear signs of warming over the past century. The 1990's were the hottest decade, and 1998 the hottest year, recorded year the 140 years for which meteorological records have been kept. In fact, nine of the hottest years during this period have occurred since 1990, and temperatures are now rising at three times the rate of early 1900's ("This year was the 2nd Hottest, confirming a Trend, UN says", New York times, 19 December 2001,). Sea levels have risen by between 10 to 20 centimeters over the past century. Since 1960's snow and ice cover has decreased by about 10% Ad Mountain glaciers are in retreat everywhere except near the poles. Now due to climate change, lots of poor nations and their populations will face drastic situations. In 1991, a cyclone hit the coast of Bangladesh, coinciding with high tides that left 10 million people hopeless and kill ed 1, 39,000. Most of these people were living on mudflats in the deltas. As many as 70 million people could be affected in Bangladesh, and a similar number in china.

Internal Business Process Essay Example | Topics and Well Written Essays - 1000 words

Internal Business Process - Essay Example From the case study, the first step of the internal business process relates to the invoicing. For any business to be successful, it is vital that the invoices are carefully examined by the finance officers. After receiving the invoice, the data must be entered, the data validated and finally, issuance of payment. The invoicing process aims at ensuring that there are no complications between the company and the clients. Upon receiving the invoice, the client must confirm the invoice- a key aspect in invoicing-, after which the company categorizes the invoices and forwards them to the concerned departments. Next in line is checking the invoice. This process determines if the invoicing process is complete or not. After the particulars of the invoice are entered, the scrutinizing process takes charge. In the case of an incomplete invoice, the management informs the client through official requests through telephone calls or e-mails. In the event of no responses after five days, it is th e responsibility of the administration to send the clients’ more reminders. On the other hand, for normal invoices, the administration must contact the client and request for the authorization for completion of the invoicing process. ... After checking the invoice, the next step is filling in the details of the invoice as required in the entry form. The details in the invoice entry form are useful for the internal business process as the forms act as the blueprint of the business operations. With the provision of the client’s details- inclusive of their name, address and arrival date- makes it easier for the administration to deliver the required information to the right people at the right time. This turns down to efficiency and effectiveness of the entire business process. In essence, the filling in phase, can be described as the main process between interaction between the administration and the clients of the business. Besides the process of filling in the data by the administration, the administration cannot escape the step of entering the invoice data. This process begins from the client collecting the invoice forms from the administration then assessing the invoice through the SAP system. After accessin g the forms, the client gets a reference number on their forms, which allows them complete the forms then send the invoice to the required department. After the administration receives the invoices, the invoice is then validated through a sorting process, so as to ensure, that the correct details are filled in the invoice sheet. After entering the details in the invoice, the form is validated by the validation officer who batches the form and forwards it to the next stage. The internal business process cannot be complete if the process of invoice validation is not achieved by the organization. This process begins with the validation officer receiving all the invoices received in their office. The next step included taking a batch for the invoices and sorting them

Open source intelligence and privacy - criminology Essay

Open source intelligence and privacy - criminology - Essay Example There is also the hope of stopping the incidence of crime, through addressing the causes of crime at the individual level, which can result in social reforms. The pressure to study crimes and criminal behaviour is also fuelled by the wish to comprehend and give an explanation about the incidences of crime and the reactions of society towards it. Again, some scholar, especially philosophers and sociologists, will study crime, so as to know more about it, and also to find out what it tells the people about the society and its problems. In defining crime, the simple definition developed about the area is this: criminology as the collection of knowledge related to the issue of crime, as a social phenomenon. The field of criminology covers – under it – the law making process, the breaking of laws, and the responses offered to the community members that break the law. The objective of the field of criminology is that of developing a body of general and evidence-based knowledge, among other sets of knowledge, about the processes of law, crime and the treatment offered to the breakers of law. On the other hand, computer science is the practical, specific approach to the field of computation and its applications. It is the methodical exploration of the structure, feasibility, expression and the mechanization of algorithms (methodical processes) behind the process of obtaining, illustrating, processing, storing, transmitting and accessing information, whether it is programmed as bits inside a computer memory bank or transcribed inside the protein structures or the genes of human cells. A computer scientist is a specialist in the field of computing and the designing of computational systems. This report will identify the key concepts of computer science from a criminologist’s point of view. The report will also explore the meaning of the concept, the difficulty of putting the field into operation and the relevance of the field

Literacy and Numeracy: Personal Development Plan

Literacy and Numeracy: Personal Development Plan A new prospect by the Australian government will have new teachers who have graduated from university undergo a literacy and numeracy test to show that they are at a competent level to teach students. Students leaving university will be required to place in the top 30% to pass. EDU114 is a current course at the University of the Sunshine Coast which is helping aspiring teachers to get ready for life in the classroom. In this course, one of our tasks is to form a personal develop plan to help us achieve our goals to pass the literacy and numeracy test in 4 years. I have undergone four practice literacy tests and four practice numeracy tests. Below are my results and my personal development plan to help me lift my results to become a successful and competent teacher. Literacy was done first so I will examine my results for these test first. I have averaged out all my results for the four tests to make them easier to analyse then broken the tests down into sections. These sections are: spelling, punctuation, grammar, comprehension and total score. My total score for the four tests averaged out to be 70.5. If we are to assume that anything over 70 would be top 30% then I have just scraped in. The main section holding me back has been comprehension with a low score of 59 while my best scoring section was grammar which was 78. Spelling and punctuation were 67.5 and 76.5 respectively. If I am to improve on these numbers one of my goals is to move my comprehension score from a 59 to a 75 by the end of the second semester. To do this I will be keeping a reading journal by my side when I read books, whether it be recreational or for study. By keeping a reading journal and taking notes, it will force me to absorb what I am reading rather than just taking in words. By handwriting in a journal, it forces me to use the correct spelling without the help of auto correct on the computer which will also improve my spelling. By repeating this same test in 8 months time, it will give me a greater understanding of my improvement in all areas while at the same time being a long enough time for me not to remember the answers. My numeracy test was very poor compared with my literacy test. My total score was only 54.25 with my lowest score coming in at 36.75 for written arithmetic. The other two scores were written data at 52 and mental arithmetic at 68.5. As you can see, none of these scores are anywhere near sufficient to get in to the top 30%. My goal for numeracy is similar to my literacy goal but instead of just focusing on one section like comprehension, my goal is to redo the test at the end of the second semester and have my total score at 75. To do this, I will be getting help from an outside source known as the Khan Academy. The Khan Academy has been recommended to me by other students who needed help in their math classes. It takes you through problems, ideas, solutions, graphs and anything you need help with and explains slowly so you can understand. By using this site each week and methodically going through their format for learning, I will improve my mathematics knowledge and be able to check my mathematics knowledge at the end of the year. The literacy and numeracy tests that the Australian government is implementing are designed to make sure educators are in the top 30% of Australians for literacy and numeracy. These test are a way to make sure that our students are only receiving correct information. After reviewing my tests in literacy and numeracy I can see that I have a bit of a way to go until I am ready to teach. However, with my goals in place I believe that I will be able to reach the top 30% by the end of my university degree. I look forward to the end of the year where I can test myself again and check my progress, after which I can reset my goal posts and aim higher for next time.

John Adams :: biographies bio biography American History

John Adams (1735-1826) Founding father. Second President of the United States, first vice-president of the U.S., member of the Continental Congress, helped draft the Declaration of Independence, helped negotiate the treaty of Paris with England in 1783. Also known as the Paris Peace Treaty, this agreement ended the United States War for Independence, giving formal recognition of the United States, and established it's then-boundaries. Second President (1797-1801) John Adams devoted much of his presidential energy to dealing with infringements on American neutrality in an Anglo-French war. He succeeded in keeping the United States from being drawn into those hostilities. He did so, however, at great cost to his popularity, and he left office feeling much battered and wrongly abused. Many years later, Adams observed: "No man who ever held the office of President would ever congratulate a friend on obtaining it." THE PARIS PEACE TREATY (PEACE TREATY of 1783): In the name of the most holy and undivided Trinity. It having pleased the Divine Providence to dispose the hearts of the most serene and most potent Prince George the Third, by the grace of God, king of Great Britain, France, and Ireland, defender of the faith, duke of Brunswick and Lunebourg, arch- treasurer and prince elector of the Holy Roman Empire etc., and of the United States of America, to forget all past misunderstandings and differences that have unhappily interrupted the good correspondence and friendship which they mutually wish to restore, and to establish such a beneficial and satisfactory intercourse , between the two countries upon the ground of reciprocal advantages and mutual convenience as may promote and secure to both perpetual peace and harmony; and having for this desirable end already laid the foundation of peace and reconciliation by the Provisional Articles signed at Paris on the 30th of November 1782, by the commissioners empowered on each part, which artic les were agreed to be inserted in and constitute the Treaty of Peace proposed to be concluded between the Crown of Great Britain and the said United States, but which treaty was not to be concluded until terms of peace should be agreed upon between Great Britain and France and his Britannic Majesty should be ready to conclude such treaty accordingly; and the treaty between Great Britain and France having since been concluded, his Britannic Majesty and the United States of America, in order to carry into full effect the Provisional Articles above mentioned, according to the tenor thereof, have constituted and appointed, that is to say his Britannic Majesty on his part, David Hartley, Esqr.