The Stock Market Crash free essay sample

There are several factors that caused this crash but the main reason was the supreme mortgage crisis. The stock exchange is a simple system to comprehend and was established centuries ago. The history of the stock exchange dates back to 1 790 in Philadelphia, Pennsylvania. This would be the first time trading stocks was done in an organized fashion instead of at random like it was done prior. This location deemed successful for 30 years before it was moved to its permanent location on Wall Street in New York City. The stock market remained successful until it crashed on Black Tuesday in 1929.This crash resulted in the loss of billions of dollars and marked the beginning of the great depression. The great depression would last for about ten years and put Americas economy in the worst shape it has even been . During this period, Stocks would drop to record lows, half of the American banks would perish, and the unemployment rates would sky rocket. We will write a custom essay sample on The Stock Market Crash or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page The Depression would finally recede after World War II. The next crash would not occur for decades but would affect the largest markets on the globe and would be referred to as black Monday. Black Monday, occurred on October 19, 1987.On this day tock would drop 22% and this drop would send the global economy into a tailspin. 19 of the 20 largest markets throughout the world, would all see at least 20% drops. Luckily, the crash did not trigger a recession and would only result in the loss in a large number of financial careers. However, the blame of the crash would be pointed at the politicians rather then those in the financial world. It is difficult to understand why a stock market crashes without a simple understanding of the subject. The stock market is a group Of companies that meet a certain criteria. The companies are broken down into units.These units are then broken down and sold as shares; the shares are considered part ownership of the company. But, why would a company sell shares and give away assets? The stock market allows companies to finance themselves without taking out commercial loans known as debt financing. Debt financing results in large interest fees, which is why it is referred as debt financing. However, equity financing allows the companies to sell stocks to cover the costs of the company it also allows them to finance their company risk free. Both types of financing have theirs pros and cons, depending on ones taxation.With the understanding of these simple topics it becomes easier to understand the stock market. With little understanding of the stock market, we can still comprehend the reasons behind the crash. There where many events that lead up to the crash of 2008 and it all started with supreme mortgage crisis. A us prime mortgage is given to someone with a low credit rating. In 2006, private sectors wrote out about 12 million loans worth up to 2 trillion dollars. These loans were given without the usual regulations. These regulations were parted from due to congress wanting to give out more moans.Unfortunately, this only worked for a short period of time, as many could not afford to pay back their loans with the high levels Of interest. As these loans were not being paid off, banks were running out of money yet continued to loan out more money that they did not have. This ultimately caused a huge financial crisis causing several private lenders and banks to claim bankruptcy. The crisis caused one of the largest and oldest lenders in the country to file for bankruptcy. On September 18, 2008 the Lehman brothers filed for bankruptcy with the largest claim of all time. The collapse of the Lehman brothers would cause a downward spiral of the economy and lead to the next collapse of the stock market. The loss was devastating to our country as they had existed and succeeded for decades. The company was founded in 1 850, and had survived two previous Stock market crashes but unfortunately, they would be one of the causes of the 2008 crash. The collapse of the Lehman brothers provided the shareholders with a preview of what lay ahead. Ultimately, causing them to sell the shares they had invested in banks. The abundance of those selling their shares caused a umber of falls all around the stock market.The sudden collapses had a large effect on other countries as well. Affecting countries all across the globe but having its greatest impact on Iceland who almost went completely bankrupt. The stock market crash of 2008 had the entire globe in crisis. Every country involved had to figure out a way to save themselves from a large recession. To get organization back in the stock market the United States had to bail out all the banks and large companies to allow them to give loans again. Ultimately, allowing them to restore a balance in our economy. Fortunately, we had to borrow a significant amount of money from other countries further increasing our debts with them. As for prevention, there have been a few laws and regulations added. First off, shorting stocks is now illegal. Shorting a stock is borrowing money from an investor and then when the stock is dropping or sold not replenishing their loan. Another regulation is forcing lenders to stick to their strict regulation when giving out loans. Also interest has been lowered substantially in order for new business to expand and grow without an absurd amount of debt.While the reasons for the stock market crash in 2008 arent completely pointed in one direction. Most of the evidence lies on the supreme mortgage crisis. Without this crisis, the Lehman brothers would have never been bankrupt, companies wouldnt be in a scramble to buy each other out, and shareholders wouldnt have short sold all their bank shares. Ultimately, if lenders stuck to their normal regulations while giving out loans this entire situation could have been avoided. Which would have saved our country billions of dollars. Citations 1. Brian, M. , Ross, D. (n. D. ). How Stocks and the Stock Market Work

Personal Response Essay The Loons Essays

Personal Response Essay The Loons Essays Personal Response Essay The Loons Essay Personal Response Essay The Loons Essay She was rejected because she represented an ethnic group, which society then classified as a half-breed, neither Cree nor French. Though I cannot say that have personally experienced, to the same extent as Pique, the same type of alienation, I would have to say that I can relate to her with regards to being a half-breed. Coming from a family of multicultural backgrounds Ive never really noticed, that unlike most full blooded Filipinos, I actually stood out because I looked different when compared to them. On my dads side of the family, my great grandpa was Spanish, which explains my last name Lyrical, which Isnt your typical Filipino last name. On my moms side of the family, My great grandma was full Chinese and my retreat grandpa was half Portuguese, which I think explains some of our distinct features such as our lighter skin and browner eyes. So with that in mind, when everything came together, you get me! Many have told me that I don look full Filipino, some even say I don look It at all, but the one question that really sucks out In my head Is when people would Just randomly ask me, So what are you? I know they dont mean to be rude, it sometimes comes off to me as a little puzzling because if I tell them Filipino then they dont always believe me and then more questions come and this is usually when I egging to feel as if I need to explain myself! Although this doesnt bug me much, there are stereotypes and names that people would sometimes use, which may not seem rude or prejudice to them, but In reality can be really hurtful for us. The Tonsures were French half-breeds, and among themselves they spoke a patois that was neither Cree nor French. Their English was broken and full of obscenities. (1059) I find this a great example, which highlights how society, at the time, discriminated against differences in dialect. Language is a very Important factor because It Is the basis of understanding. Although I find people have been more accepting AT variations Ana Territories In languages Ana accents, tenure are still lingering stereotypes and underlying comments which can still be offensive to many. A perfect example would be, how people in my generation would label those whom just migrated to Canada , from another country, such as the Philippines, a FOB, which stands for, Fresh Off the Boat, because their English is not meeting societies standards. Vive been fortunate enough to live in Canada all my life and have not acquired the stereotypical fob accent, but it still affects me when I hear others using he term fob because though it is not directed to me, I still feel part of the group that they are referring to. One unconscious fear that people have, is being part of those alienated by society. Times have drastically changed and people have become more and more accepting of different races, cultures, languages, appearances, even sexual preference. As positive as this establishment has been, we cant deny that there will always be those individuals who will refuse and continually disapprove of these changes. I feel that Laurence did a great Job of expressing to the readers her sad findings about our society. In a way, The Loon, is a short story about life, how most of us are alone, rejected, alienated, and misunderstood. Ill tell you something else All the old bitched an biddies in this town will sure be surprised. Im getting married to this fall?my boyfriend, hes an English feels, works in the stockyards in the city there, a very tall guy, got blond wax. Y hair. Gee, is he ever handsome. Got this real classy name. Alvin Gerald Cummings?some handle, eh? (413) Like Pique, I think many of us can relate to the struggle that she had undergone, o try and keep her distinct personality and identity. We see her longing to belong and be accepted, into a society, whom even until the day she dies, cant help but continue to pass Judgment on her. I really enjoyed this short story because it really opened my eyes to many different aspects of life. Whether were a visible minority, or not, I think its all what we make of it. Ultimately, at the end of the day, I feel we are responsible for our actions and how we take things into account. Learn to love ourselves and accept who we are, and everything else should fall into place!

Analyses Of The Nanosonics Matter And Its Usage In The Auditing Field

Auditing standards for an auditor is like a holy book. All the ones involved in the auditing field have to obey the standards, Negligence and breach of any rule of the auditing standards will result in serious violation and strict actions. All the techniques and the policies that are required by an auditor to follow in order to carry an audit of the financial statements are inscribed in the auditing standards (Elder et. al, 2010). When a new auditor is hired then it is his duty to write to the outgoing auditor in order to gain knowledge about the audit he is going to carry on so to eliminate any sources of vulnerability against his professional career and his accolades.   All the audit plans made should be clear, concise and infallible and should be in direct consideration with the points mentioned below. The plan shall include the following steps: The first work in the to-do-list involves interaction with the outgoing auditor which ensures that the company is fit to join and has no discrepancy in the previous financial statements. The second step to follow is that the incoming auditor writes a letter to the company management about his personal terms and conditions. Only upon approval by the management, the auditor is hired. This is a process to set up friendly relations with the company management as per the auditing standard 210. The auditing plan to be taken up is decided by both the auditor and the management with mutual agreement by both the sides (Fazal, 2013). As mentioned earlier, the auditor and the management have to agree upon some terms and conditions and also some plans which makes the deal valid. In the early stage of the auditing, the auditor thoroughly checks that the policies and the processes taken up by the company are suitable, in respect to the auditing standard 220. As the audit of the financial statements are carried on by the auditor, it is the duty of the appointment partner to see that all the policies are well-understood by the auditor and he works within it (Baldwin, 2010). The appointment partner must also see that the policies taken up by the company are positively used and applied by the auditor. The transparency of the financial statements should also be checked by the appointment partner. The compilation of the audit is done in consideration to the auditing standard 30. Paperwork presenting the auditing of the financial statements, troubles that can rise if the auditing papers are lost, and the copyright of the papers are some of the key points that the auditing plan should include from the starting. The auditor need to get familiar and must thorough the policies that the company is following only after which the auditing must be allowed to get on track (Gay & Simnet, 2015). Along with the policies it is also important to understand the mode and types of transaction and the auditing environment of the company. It is important that all information regarding the nonessential, first priority and the supportive laws are made thorough top the auditor (Cappelleto, 2010). The choosing of the auditing process is a much later work. First it is the duty and responsibility that to have clear knowledge of the conditions of the company and if material risk has been detected then i t has been dealt with the laws of governance and only after full satisfaction that the company is not a fraudulent one and there is no case of any misstatements on the part of the company the auditor may start the process of auditing for the company. In relation to the audit plan of Nanosonics, several approaches must be taken into account. The company is primarily an innovator in the prevention of infection and for such purpose, its automated and unique EPR high-level disinfection device allows it set a new care standard in ultrasound practices of probe disinfection (Nanosonics, 2017). The company’s inherent risk is already high in nature owing to its volume of risky activities that can also cause damage to the third parties. Besides, the scale of operations of the company is also higher in nature that can result in possibilities of errors, misstatements, and frauds within the organizational framework. This is the reason why traceability is needed in documenting and monitoring equipment reprocessing. As an auditor, the records maintained by the company cannot be relied upon and therefore, proper vigilance is needed as well. The appointment letter to the auditor includes the wage that the auditor will be provided. The auditing process is accepted with a positive feeling by both the sides which proceeds to audit planning. Skilled work and processes in the field of auditing is appreciated but keeping the basic techniques intact is also very important, and one of the basic functions is to question the employees of the company. Questioning the employees would give the auditor a transparent view of the framework and the working of the company at a large. The second basic priority is to effectively choose the auditing staff to carry on the processes. This includes the allotment of work to skilled professionals, non-skilled and the average-skilled workers. This step should be taken very precisely and with utter correctness (Geoffrey et. al, 2016). A weighed mixture of professionals can prove to be a very positive set to carry on the auditing processes. The following and creation of the to-do-list is very important once the auditing is started. Auditors can start with cash and bank account audit which is guaranteed to involve only minor expenses. As per the over-the-year records, it is seen that the cash and bank transaction have a hike and are increasing on a constant basis. Because of the above case the cash and bank transitions must be carried more attentively along with the bank reconciliations. Skilled processes, extended time is required in the case of cash and bank transactions audit. Financial costs showed a positive decline in the year 2017. This was marked by the issuing of payoffs, receipts and interest incomes. All this can be summoned up to say that Nanosonics is coming up as a huge success in 2017. Increase in dividend distributions along with increase in audit samples has also been seen as in comparison to the previous year. Mass volume with large chunks is involved now which can increase the threats of manipulations. Licenses obtained from various government authorities, permits and quality control boards should be the put up at top priority with systematic checking system (Nanosonics, 2017). Attentive checking of the purchases is recommended so that no imperfect material is bought at an exaggerated price. The account involving the data of assets and stocks should be paid attention in order to eliminate any manipulation that can be done in order to set the profit image high which is practically a discrepancy and false statement (Hoffelder, 2012). The report will now discuss five sectors where there are severe chances of high material misstatements.   The type of audit and its timing is determined by some factors like purchase of property, plant, and equipment. All this is grouped under material account segment. High investments are seen in the company with respect to its pattern of business which involves expansion priorities because of which the property could have been bought. Not a very high difference in seen in investment figures this year as in comparison to the year 2015 in which the investments were also high. This will make the investments a threat stricken sector, where fraud, misstatement, and indiscretion are probable (Kaplan, 2011). Manual analysis of the assets bought or sectors were money is invested is a very significant bustle. Checking must also be done in these cases: These are the key points that are needed to be kept under utter surveillance. The company’s materiality level of investments is as follows: The value of investments that are undertaken during the year 2016 amounts to 9.5 million dollars. Furthermore, the balance of total assets at the end of accounting year amounted to $9925000 Hence, materiality= $ (0.005% of 9925000) = $496.25 Furthermore, impairment of intangibles is another risk factor for Nanosonics. The reason behind this can be attributed to the fact that there was no impairment of the same in both 2017 and 2016. Based on the accounting policies and estimates, intangible assets are examined annually for impairment if changes in situations signify that they may be impaired. However, except for goodwill, only the non-financial assets suffered impairment during the period. The carrying values of liabilities and assets can be influenced by the risk of material adjustment through the accounting estimates on share-based payments, deferred taxes, provisions, and employee benefit liabilities (Lapsley, 2012). Secondly, the transactions that are associated with related parties are also prone to material misstatements because it signifies relationship betwixt two parties that can influence the real value of transaction taking place between them. This can result in affecting the financial situation of the company (Nanosonics, 2017). In relation to Nanosonics, there are various related party transactions that have taken place within its framework. Besides, it can also be witnessed that the directors of the company still owe the huge amount of resources to the related parties that is not a good sign. Therefore, for future audit plans, such transactions with the related parties must count as an area of material risk and hence, additional auditing processes must be implemented to ensure that the financial situation is not negatively affected (Livne, 2015). Therefore, the level of materiality can be calculated as follows: Sale of products to the related parties= $2055438 Purchases of goods from such related parties= $255861 The total value of transactions with the related parties = $2312414 Hence, materiality= $(0.005% of 2312414) = $115.62 In relation to the aforesaid, powerful internal controls are required in such segment because there are higher possibilities of embezzlement of funds owing to the interest of directors in such transactions. Thirdly, it can be observed that there is also a risk of miscalculation of foreign currency risk in the financial statement of the company (Nanosonics, 2017). However, the same can be utilized for self-interest purposes and there is a higher chance of embezzlement of funds in such scenario. Moreover, this is the reason why an audit plan can play a key role in protecting the company from such fund embezzlement. The income of $771000 has increased from $11000 and the same can be attributed to net exchange foreign gains on foreign currency forward options and contracts. Furthermore, the other income of $780000 of the company consists of $771000 of only foreign exchange gains that are a dubious scenario (Nanosonics, 2017). Such risk of foreign currency risk can result in an economic risk for the company. Besides, the net foreign exchange losses of the company in 2017 were $1032000 in comparison to $541000. Such variations in the computation of foreign currencies clearly shed light on the fact there have been miscalculations in the foreign currency currencies (Manoharan, 2011). Thus, the level of materiality can be computed as follows: Income from net foreign exchange gains= $771000 Therefore, materiality= $0.005%*771000= $38.55 Fourthly, it can also be seen that the company exerts too much dependence upon its portfolio of intellectual property. Such portfolio is crucial for saving the existing revenue streams of the company and protecting its business in the development of new products and entry into new markets (Merchant, 2012). Such reliance on intellectual property portfolio may have some costs associated with it and the company has failed to reflect the number of such costs in its annual report. This is a risk of material misstatement in the company’s accounts because it does not offer true financial information about the performance and affairs that may not satisfy the requirements of stakeholders in making relevant decisions (Manoharan, 2015) Fifthly, it is observable from the annual report of the company that its inventories have increased in comparison to the last year. The number of inventories in the year 2017 amounted to $7728000 whereas it reflected $6935000 in the year 2016. The question is that the sale of goods and services of the company have also increased in comparison to the last year, which clearly shows that the level of inventories must have declined and not increased in comparison to the last year. The figure of sales amounted to $67507000 in the year 2017 whereas it depicted $42796000 in the previous year. Hence, such inflated value of inventories clearly shed light on the fact that a material misstatement has occurred and the company may have done it for its economic interests (Nanosonics, 2017). In simple words, the overinflated value of inventories plays a key role in exaggerating the total value of the stored goods and materials. In most of the cases, such overstated inventories are the reasons for u nintentional errors or fraudulent manipulations(Messier et. al, 2005). Thus, the level of materiality can be computed as follows: Income from sale of goods and services= $67507000 Therefore, materiality= $0.005%*77280000= $3864 The aforesaid evaluations are essential for the survival of an organization. Besides, audit processes and their effectiveness ascertain the benefits of overall engagement of audit plan. Therefore, such strategy is necessary because it offers a path for the partners to determine the audit plan for the company (Roach, 2010). Nanosonics is a huge company with the maximum amount of resources spent in research and development for the purpose of preventing infections. Such operation is very crucial in the current working environment because functioning for the benefit of the public is all what the stakeholders need. Besides, audit planning will still be required if the scale of operations is not higher in nature (Nanosonics, 2017). Nevertheless, audit planning prior to engagement is a strategy that can be followed by the auditors to enhance its effectiveness. Moreover, it assists a company coping up with all the challenges that persist in the current working environment. Therefore, these estimates must be ascertained carefully and for such purpose, the base of such estimates must be carefully verified. Nevertheless, since the impairment of goodwill is absent in the company’s financial, its fluctuations cannot be determined properly. Transactions associated with related parties Moreover, higher the engagement of an authority in a transaction, riskier it becomes to find out the same. Therefore, even if maintenance of strong internal controls is implemented, it will become simpler for the company to turn around the situation for the purpose of its self-interest (Matthew, 2015). Hence, additional audit processes must be undertaken together with an enhanced check on the scale of such transactions Risk of miscalculation of foreign currency Such risk is a further dimension of risk that offshore investors must take into account. Even though the risk of foreign exchange specifically caters to the undesirable movements that may result in losses, it can be beneficial for the company to benefit from such situations with the significance for additional value and beyond that of a pre-existing stagnant investment (Matthew, 2015) Therefore, if the value of same was present in the financial statement of the company, it would have assisted in reflecting the materiality level of risk that can allow an auditor to plan corrective actions in contrast to the same. The company has easily attained the position of overinflating its inventory in order to affect its net income by exaggerating the net earnings for the accounting period. This material risk must be identified by the auditor because it can allow the company manipulate its accounts for its own interest and safeguard itself from legal actions (Nanosonics, 2017). Such evaluations require strict and enhanced audit plan that plays a key role in detecting such material misstatements. Moreover, if such risks remain unidentified, the company may attain the position in influencing other segments as well that can avoid stakeholders in making valuable decisions (Matthew, 2015). Auditing standard 300 can be thought of as the godfather of the comprehensive processes mentioned above, which decides the planning of an audit of the financial report. In the early stages of auditing processes that is planning, the auditing partner and its staff accumulate and get familiar with the company and its environment. This helps to detect material misstatements related to the company article. The ending of the planning phase is followed by interaction with the management about the recorded data during the planning term and those charged with governance (Niemi & Sundgren, 2012). If the management is lenient in such cases or the auditing partner finds out that association with the current company is harmful for its professionalism then it can choose to dump the company with a notice to the management. Investigative procedures and proportional loom should be the weapons of the auditor against risks and prior material misstatements. These are the comprehensive procedures prescr ibed by various accounting and auditing which need to be followed by the auditing partner prior and in the duration of conducting any audit. Baldwin, S. (2010) Doing a content audit or inventory. Pearson Press. Cappelleto, G. (2010) Challenges Facing Accounting Education in Australia. AFAANZ, Melbourne Elder, J. R, Beasley S. M. and Arens A. A. (2010) Auditing and Assurance Services. Person Education, New Jersey: USA Fazal, H. (2013) What is Intimidation threat in auditing?.[online]. Available from: https://pakaccountants.com/what-is-intimidation-threat-in-auditing/ [Accessed 6 March 2017] Gay, G. and Simnet, R. (2015)   Auditing and Assurance Services. McGraw Hill Geoffrey D. B,  Joleen K,  K. Kelli S. and David A. W. (2016) Attracting Applicants for In-House and Outsourced Internal Audit Positions: Views from External Auditors. Accounting Horizons. [online] 30(1), pp. 143-156.  Available from https://doi.org/10.2308/acch-51309   [Accessed 5 March 2017] Hoffelder, K. (2012)   New Audit Standard Encourages More Talking. Harvard Press. Kaplan, R.S. (2011) Accounting scholarship that advances professional knowledge and practice. The Accounting Review [online]. 86(2), pp. 367–383. Available from https://doi.org/10.2308/accr.00000031 Lapsley, I. (2012) Commentary: Financial Accountability & Management. Qualitative Research in Accounting & Management. [online]. 9(3), pp. 291-292. Available from https://doi.org/10.1111/1468-0408.00081 Livne, G. (2015)   Threats to Auditor Independence and Possible Remedies. [online] Available from: https://www.financepractitioner.com/auditing-best-practice/threats-to-auditor-independence-and-possible-remedies?full [Accessed 6 March 2017] Manoharan, T.N. (2011)   Financial Statement Fraud and Corporate Governance. The George Washington University. Matthew, S. E. (2015) Does Internal Audit Function Quality Deter Management Misconduct?. The Accounting Review. [online]. 90(2), pp. 495-527. Available from https://doi.org/10.2308/accr-50871 [Accessed 5 March 2017] Merchant, K. A. (2012) Making Management Accounting Research More Useful. Pacific Accounting   Review. [online]. 24(3), pp. 1-34. Available from https://doi.org/10.1108/01140581211283904 [Accessed 5 March 2017] Messier, W and Emby, C. (2005) Auditing & Assurance Services: A systematic approach. McGraw-Hill. Nanosonics. (2017) Nanosonics Annual Report 2017 [online]. Available from https://cdn2.hubspot.net/hubfs/2616865/Investor%20Centre%20-%20Annual%20Reports%20and%20Presentations/8045NANO_Annual_Report_2017_A4_Singles_Web_FA2.pdf [Accessed 7 April 2018)] Niemi, L. and Sundgren, S. (2012) Are modified audit opinions related to the availability of credit? Evidence from Finnish SMEs. European Accounting Review. [online]. 21(4), pp. 767-796. Available from https://doi.org/10.1080/09638180.2012.671465 [Accessed 5 March 2017] Roach, L. (2010)   Auditor Liability: Liability Limitation Agreements. Pearson.

REFERENCE Article Example | Topics and Well Written Essays - 1000 words

REFERENCE - Article Example His clients also have the utmost esteem for Mr X. They consider Mr X the consummate professional, an exemplar of the vocation, and they are struck by his affability and graciousness during what must be a time of considerable stress. Mr X is extremely liberal with his valuable time. For example, he has attended at my pharmacy once a week for over six years. Considering the enormous distances he must travel to do so it heartens me that he always treats both my customers and myself with enthusiasm and vigour; more so as he does this without any monetary recompense whatsoever, such is his enthusiasm to return to the register. Mr X is fervent in his desire to gain valuable experience under my tutelage – something that I actively encourage. Mr X, while obviously on restricted duties, performs a variety of valuable tasks while working in the pharmacy. These include providing homeopathic remedies as well as dispensing conventional medicines. Mr X also enjoys working at the counter as it allows him to interact with patients as well as allowing him to keep up to date with changes in regulations regarding many over the counter medicines. Mr X is very active in preventive care. He encourages customers to engage in healthy lifestyle pursuits - advising patients about the potential dangers associated with cigarette smoking for example – and is fully versed in all the smoking cessation programs that our pharmacy offers. Indeed, Mr X’s customer service is outstanding. He is always engaging and energetic when dealing with patients. Moreover, Mr X explains in clear simple English exactly what each prescription does, whether there will be any complications or potential side-effects, and whether there are any better or cheaper generic medications available. Overall, Mr X’s customer service skills are exemplary. I rely on Mr X’s discretion and professionalism at all

Market structure Essay Example | Topics and Well Written Essays - 1000 words

Market structure - Essay Example The Spangles candy was a fruity boiled sweet with a slight fix about it, the packaging letters were big fat bottomed font, and they came in several flavors. These candies were popular enough that they made their way into pop culture through songs, and cultural references. â€Å"They were launched a few years ago, but didn't seem to take off. The wording on the packaging was in that big fat-bottomed font, the same one that The Goodies used on their opening titles.† (BBC h2g2, 2011) Available market segments include, persons who were born 5 years prior to the initial release of these candies through persons who were born in the late 1960’s, this would include the ages of 63 – 45. Another market segment could be a foreign market base, the youth market, and potential additional markets like comedy fans. Basic objectives for marketing the Spangles branded candy would be to increase product awareness by 20% in the first year, revive the popular side within the first 6 months, decrease customer resistance to buying our product, which would lead to a 50-100 percent increase in sales within the first year. To accomplish these goals we will need to introduce a valid marketing strategy. In the case of this candy we will want to use focused insertion, and narrow advertising structures. It will be important to introduce the product as a special historical re-launch. An additional objective should be the raised awareness of the Mars ® brand name as a result of the campaign, increases of between 10-15% should be realized in the entire Mars ® line which will make the re-launch a success regardless of the eventual outcome of the Spangles line itself. The price should be approximately what it was at the time of its peak popularity for the initial marketing phase; advertising should be done during the most popular hours of television and radio use for the target market. Distribution should be completed at the popular shopping destinations that already car ry other Mars ® products. One potential approach is to use displays that focus on Spangles as the â€Å"Candy you grew up with.† Another possible approach would include different flavours as well as less boisterous yet still â€Å"retro† looking label on the candy itself. Possibly the â€Å"green† approach can be utilized by promoting the use of recycled materials in the wrappings. Another approach could be the use of popular comedians as personalities promoting the cultural aspects from a comedic point of view on television and radio. If the product is marketed with current pop culture icons as spokespersons the additional benefit would be the appeal to the younger generation. By generating a potential new market and by using easily recognized pop culture icons Mars ® could potentially increase their market share not only through the re-launch of the Spangles boiled sweets but also increased interest in current products. If the marketing approach is followe d the potential for name recognition and additional sales of other popular Mars ® products should increase by 15% or more. Additional approaches can be looked to when the initial launch is complete and sales numbers have been returned. A successful re-launch could mean expanded markets in countries where retirees

Nike and Vietnam Essay Example for Free

Nike and Vietnam Essay Globalization is a phenomenon that has become a fact in today’s business world. Companies, always looking to cut costs and improve productivity, often look overseas to either expand current business operations or to outsource existing business operations. Companies often make the decision to go global with the hopes of taking advantage of more favorable business environments, better technologies, or relationships with suppliers and customers. While these facts are a part of globalization, there are also positive benefits, which range from lower prices to consumers, increased education for individuals within the countries where expansion occurs, and a higher standard of life for the individuals in these countries. While arguments can be made that globalization is a positive or negative force on a country or on the world economy, the debate is not likely to end any time soon. This paper will take a look at the positive impacts of globalization by examining Nike in Vietnam. Nike has long been viewed as the poster child for problems associated with globalization. Many have accused Nike of employing workers in sweatshop like conditions in poorer countries like China, and more recently Vietnam. In addition to the sweatshop claims, people often say that Nike employs child labor, often even claiming that the child labor is forced and takes place in sweatshops. Many of these same people also suggest that Nike has taken jobs from the United States to these countries where there are fewer laws regarding work conditions and wages so that they can pay their employees less in an effort to make a higher profit with no regard to the value of human life. These are just a few of the accusations that people often make against multinational corporations such as Nike, and this list is much longer. While it is true that there have been problems at certain factories that make Nike products, the company has taken aggressive steps to ensure that all of its factories now comply with basic human rights. It is hard to argue that the conditions experienced by workers at factories in Vietnam are not still vastly different from what we experience in the West, but the culture is much different as well. Therefore, what we may view as harsh conditions may not, in fact, be so to the actual employees. What are often unnoticed, or at least is not mentioned, are the positive effects that Nike has brought to countries like Vietnam. As stated previously, many of the benefits of globalization within a company like Nike must be looked at within the context of the culture being examined. A primary example of this would be the pay. While some may argue that a monthly pay of $72 per month is essentially the same as employing slave labor, the employees at the Nike factory in Ho Chi Minh City might say otherwise. As Johan Norbert (2004) notes, the pay of $72 per month is â€Å"almost three times the minimum wage for a state-owned enterprise,† which typically involves endless days in intense heat or rain in rice fields surrounded by water and bugs. In addition to being higher paying than previous jobs, working in a Nike factory also provides a stable source of income. These higher wages have afforded the employees other benefits as well. When the first factories opening in Ho Chi Minh City, the workers had to walk to the factories, but, within a few years, they saw significant improvements to their transportation options. Norberg (2004) also writes, â€Å"After three years, they could afford bicycles three years later, they could afford scooters [and after eight years], the first workers [could] afford to buy a car. † This is a reality that few people in Ho Chi Minh City experience, with less than 5% of the population owning a car. But perhaps one of the greatest benefits that globalization has brought to Vietnam is the availability to afford higher education. In the past, many children would have been put to work on farms in order for their families to survive, yet â€Å"In ten years, 2. 2 million children have gone from child labour to education† (Norberg, 2004). Millions of children attending school as a result of globalization is a far cry from many of the child labor accusations previously mentioned. Globalization is, and probably will always be, a topic that has very passionate people on both sides of the debate. While arguments both for and against globalization have valid points to make, few people really have really taken the time to look at the direct impact of this ever growing trend. From strictly a consumer standpoint, Nike’s decision to go global and create factories in a variety of countries has led to an increase from under 200 styles to almost 1200 different styles available for purchase (Locke Siteman, 2007, p. 6). More importantly, though, are the points mentioned above, that employees in countries like Vietnam make almost 3x the wages made in their previous employment. Rarely will you hear that these employees are able to afford items such as cars while the majority of people even within their own city cannot. You will also almost never hear that, despite past abuses of child labor, millions of children have been able to get an education. This is a reality that would not have been possible if their parents were still stuck working in rice fields. This education has the abolition to create a positive cycle of growth, wealth, and education for new generations that will continue for years. If you want to see the direct impact that globalization can have, the case of Nike in Vietnam provides a solid starting point to see the positive effects that have come about as Nike has expanded to have workers in over 50 countries.

William Goldings Lord of the Flies: The Joy of Hating Piggy :: William Golding Lord of the Flies

William Golding's Lord of the Flies: The Joy of Hating Piggy   Ã‚  Ã‚  Ã‚  Ã‚  In many novels there's usually a character the reader loves to hate. Whether that character be a loser, a loner, or someone who's just chubby, we all have made fun of that particular person at least once in our lives. Throughout William Golding's novel, Lord of the Flies, he illustrates the joy of readers in hating Piggy's character.   Ã‚  Ã‚  Ã‚  Ã‚  In the beginning of the novel, when Ralph meets Piggy after the plane crash, Piggy regretfully tells Ralph what the kids used to call him at school, â€Å" They used to call me ‘Piggy'.†(1) Ralph then shrieks with laughter and makes fun of Piggy's nickname, â€Å"Piggy! Piggy!†(2) Ralph goes on and on with giving Piggy a bad time, just as kids normally would. This could be Ralph's way of trying to distract himself from the reality of the airplane smashup. By the author's description of Piggy and the contents of Piggy's talks, all of us have a good idea of how he looks like and how he acts. We can all relate to him as that ‘fat nerd' that always sat alone in the cafeteria. We all had nicknames for the ‘loner'. We knew deep down that this was a bad thing to do but we enjoyed putting him or her down.   Ã‚  Ã‚  Ã‚  Ã‚  Piggy is smarter than most of the survivors. You could see this because he was aware of the situation around him whereas Ralph enjoyed the freedom. It was Piggy's idea to write down all of the survivors' names and he knew where to put the hole in the conch and what it could be used for. Piggy is also clever in which when he is asked to do something physical, whether it would be exercise or hard labour, he says he cannot do it because of his asthma, but most people could see that he is lying. An example of this is when he was afraid to swim.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã¢â‚¬Å"Piggy tip-toed down the sandy side of the pool, and   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  sat there up to his neck in water smiling proudly at   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ralph.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã¢â‚¬Ëœ Aren't you going to swim? '   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Piggy shook his head.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã¢â‚¬ËœI can't swim. I wasn't allowed. My asthma----'   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã¢â‚¬ËœSucks to your ass-mar!' †(3) Ralph could easily tell that Piggy was lying, and whimping out.   Ã‚  Ã‚  Ã‚  Ã‚  Piggy is different from the other survivors, he is considered as an outsider. His body is different, he also thinks different from the other boys. At first he is the only one talking about and wanting to get rescued, yet all the other boys are either happy with their freedom and exploring the island or

Music and Its Effect on the Human Body

Music stimulates brain growth and productive function. It is instinct to make and enjoy music in homo sapiens, it does not get wiped from memory by diseases like Parkinson’s or Dementia, it was been known to help children with ADHD and ADD pay attention, Charles Darwin and other specialists support the idea that it was used to help us evolve and bond throughout our existence. Music is a way for people to transmit emotions, feelings, ideas, and motivation better than words can do; almost as if it is our innate language.With all these examples, it is impossible to deny the power of music and its positive influence on our mental processes. It is engraved in our biology to be moved by music, powered by its emotional force, and to stimulate our brains in ways that enforce knowledge and facilitate natural mental processes. â€Å"In 2008 archaeologists in Germany discovered the remains of a 35,000-year-old flute. † (Zimmer 1); that discovery is undeniable evidence that music e xisted long before organized civilization. Music is a part of our genealogy, we have used it as a tool to transmit thoughts before modern language was even thought about.Charles Darwin theorized that humans started using music as a way to attract mates, as a peacock shows off its feathers. Other specialists such as Dean Falk of the School for Advanced Research in Santa Fe, New Mexico, and Ellen Dissanayake of the University of Washington at Seattle believe that music was used to soothe babies as well. The proper term for this biological process is called, motheresing. Just as mothers today, in all cultures, sing lullabies to soothe their young, primordial humans did the same. The way females motherese are similar in all cultures: a quietly sung song with higher than normal speech, pitch, and slow tempo.These professionals speculate that once the essential elements were laid out and understood, adults began to make music for their own enjoyment as well. Robin Dunbar, a psychologist f rom the University of Oxford holds a third opinion, that music evolved as a way to bond together large groups. Just like primates bond with each other during grooming, primal humans did the same. Eventually, our groups became too large for grooming to remain effective; music offered a practical solution. Large groups could sing together, soothe each other, bond, and vent extra emotions all in one procedure. This practice resembles a modern day concert.It is very reasonable to believe that all of these hypotheses are true because they all exist in evolved forms today. Biologically, music has scientifically proven effects as well. Research suggests that music releases endorphins that work as natural pain-killers. Carl Zimmer states: Dunbar and his colleagues studied people who played music or danced together in church groups, samba classes, drumming circles, and the like. After the performances, the scientists made an indirect measure of the endorphin levels in the performers’ bodies, putting blood pressure cuffs on people’s arms and inflating them until the subjects complained of pain. Since endorphins kill pain, a higher pain threshold indicates elevated levels of the compounds. ) The researchers then repeated the procedure with employees of a musical instrument store who listened passively to constant background music. People who actively moved their bodies to music—dancers, drummers, and so on—had elevated pain thresholds, but no such effect showed up among those who merely listened. (1) This could be another reason that music came into existence, to provide medical help before the days of modern medicine.Today, music therapy is used to help patients with Dementia, Alzheimer’s, Parkinson’s, attention deficit disorders, etc. ; it is used to improve communication, academic abilities, attention span, motor skills, and management of both pain and behavior just to name a few others (Turner 2261-2271). â€Å"The Center fo r InnerChange in the Denver suburb of Greenwood Village, promotes the idea that ‘listening therapy,’ or several sessions of listening to music rich in high and low frequencies, can stimulate the brain enough to eliminate ADHD symptoms† (Samuels 37).The Music for Life project uses the power of music to soothe and repair Dementia sufferers every day. By playing soothing music the patient relaxes, smiles, and in some cases communicates! (Bredin 48). This medication, music, is free of side effects and extremely cost effective. One MP3 player costs less than any prescription of typical medication. Psychically, music therapy has numerous beneficial effects! Judith Turner states in the Gale Encyclopedia on Medicine: Brain function physically changes in response to music.The rhythm can guide the body into breathing in slower, deeper patterns that have a calming effect. Heart rate and blood pressure are also responsive to the types of music that are listened to. The speed of the heartbeat tends to speed or slow depending on the volume and speed of the auditory stimulus. Louder and faster noises tend to raise both heart rate and blood pressure; slower, softer, and more regular tones produce the opposite result. Music can also relieve muscle tension and improve motor skills. It is often used to help rebuild physical patterning skills in rehabilitation clinics.Levels of endorphins, natural pain relievers, are increased while listening to music, and levels of stress hormones are decreased. This latter effect may partially explain the ability of music to improve immune function. A 1993 study at Michigan State University showed that even 15 minutes of exposure to music could increase interleukin-1 levels, a consequence which also heightens immunity. (2261-2271). Without doubt, one can say that music has important physical effects on the body and should be used as a natural supplement for both the healthy and the ill.To reduce anxiety, relax heart rate, and relieve pain through release of endorphins music is a superior choice (in comparison to drugs) to assist in medical endeavors. Mentally, music has numerous benefits as well. It heals the brain through enabling exercise of damaged lobes of the brain and releasing crucial. Autistic patients have shown particularly significant progress when aided with music therapy. Therapy with music is proven to aid in autistic patients communication, relationships with others, and improve their learning skills.Cases with substance abuse, schizophrenia, paranoia, and personality disorders are aided with skills of social interaction, reality orientation, coping skills, stress reduction, and expression of feelings. (Turner 2261-2271). Although the effects of music therapy are countless, the simplicity of therapy is uncanny. Therapists analyze their patients’ conditions then choose a variety of techniques to provide the desired effects, then use musical endeavors such as singing, listening to in strumental music, composition, dancing and guided imagery to help the patient cope with their affliction.Learning to play a musical instrument helps develop motor skills in individuals with developmental delays, brain injuries, or any other motor impairment while also exercising impulse control and group cooperation. Creative movement improves coordination, strengths, and even balance. Improvisation can help anyone learn to express emotion through nonverbal means as well as encouraging socialization and communication of feelings. Singing can develop vocal articulation, rhythm, and breathe control. For troke victims, remembering lyrics and/or melodies is an invaluable technique in healing their amygdala (the part of the brain that deals with memory and perception of auditory stimuli); a healthy amygdala also provides clearer speech and more effective communication. Getting out feelings is easily facilitated with music. Composing lyrics and music assist in persisting through fears and negative feelings. Listening to music can also make people aware of memories or emotions that need to be acknowledged. Singing is also a similar method. Guided Imagery and Music (A.K. A. GIM) is a widely recognized technique developed by music therapist Helen Bonny. This technique utilizes music to invoke emotions, pictures, and symbols from the patient as a bridge to the exploration and expression of (often subliminal) feelings. (2261-2271). Further, Turner explains more of the possibilities of musical therapy in the Gale Encyclopedia of Medicine: Patients with brain damage from stroke, traumatic brain injury, or other neurologic conditions have been shown to exhibit significant improvement as a result of music therapy.This is theorized to be partially the result of entrainment, which is the synchronization of movement with the rhythm of the music. Consistent practice leads to gains in motor skill ability and efficiency. Cognitive processes and language skills often benefit from a ppropriate musical intervention. Pain, anxiety, and depression are major concerns with patients who are terminally ill, whether they are in hospice or not. Music can provide some relief from pain, through release of endorphins and promotion of relaxation.It can also provide an opportunity for the patient to reminisce and talk about the fears that are associated with death and dying. Music may help regulate the rapid breathing of a patient who is anxious, and soothe the mind. The Chalice of Repose project, headquartered at St. Patrick Hospital in Missoula, Montana, is one organization that attends and nurtures dying patients through the use of music, in a practice they called music-thanatology by developer Therese Schroeder-Sheker. Practitioners in this program work to relieve suffering through music prescribed for the individual patient. (2261-2271).Without a doubt, music affects the brain in some very dynamic ways. It has roots thousands of years old, evidence as being an important factor in human evolution, and substantial effects on people today. Rhythm and melody can heal the sick, provide aid in medical treatment, increase brain functioning in both the ill and the healthy, and influence mood to a significant degree. In conclusion, no matter what music someone is in to, it has a noteworthy effect on our body and brain. Works Cited Begley, Sharon. â€Å"Music on the Mind: Scientists are finding that the human brain is pre-wired for music.Could this sublime expression of culture be as much about biology as art? † Newsweek 24 July 2000: 50. Opposing Viewpoints In Context. Web. 19 Sep. 2012. Bredin, Henrietta. â€Å"Communicating through music: Henrietta Bredin on how Music for Life can help overcome the isolation of dementia sufferers. † Spectator 12 Dec. 2009: 48+. Opposing Viewpoints In Context. Web. 19 Sep. 2012. Dalrymple, Theodore. â€Å"If music be the food of health. † Spectator 10 Nov. 2007: 51+. Opposing Viewpoints In Context. We b. 19 Sep. 2012. Samuels, Christina A. Attention Seekers; Some parents of children with attention deficit hyperactivity disorder say alternatives such as brain exercises or music therapy are better than medication. † Education Week 27 July 2005: 37. Opposing Viewpoints In Context. Web. 19 Sep. 2012. Turner, J. (2002). Music Therapy. In D. S. Blanchfield & J. L. Longe (Eds. ), The Gale Encyclopedia of Medicine (2nd ed. , Vol. 3, pp. 2269-2271). Detroit: Gale. Zimmer, Carl. â€Å"The Brain; Is Music for Wooing, Mothering, Bonding–or Is It Just ‘Auditory Cheesecake'? † Discover Dec. 2010: 28+. Opposing Viewpoints In Context. Web. 19 Sep. 2012.

Porter’s Five Forces

Porter’s 5 forces summary According to Porter, in order to achieve competitive advantage over its competitors, analysis of current industry structure is vital because the structure of an industry determines the nature of the competition and the form that a sustainable competitive advantage takes and the industry structure is determined by the five competitive forces; the treat of substitute, the treat of entry, bargaining power of buyer, and bargaining power of supplier and the intensive of rivalry. Porter work simplified to identify five forces and then, to select one of the generic strategies.Last step of his framework is using the value chain from identifying and enhancing the business activities. His concept is based on the idea that forces facing the industry play a key role in determining success and profitability of an organisation. The analysis of five forces tells how management should respond to and try to influence those forces in a favourable way. Threat of entrant s: according to Porter new entry into the industry certainly reduces the existing firm’s profitability. How high the entry barrier of the industry affects the degree of new entry:Simply, internet banking dramatically lowers the entry barrier of bank industry. It is because entry barriers such as ‘economics of scale’, ‘brand identity’ and ‘access to distribution’ do not work any longer. Physical size can only mean high operating cost as well as in efficient and limited degrees of flexibility. The banking market is likely to see the emergence of new small banks that use internet to compete on equal ground with the financial giants. Power of buyer: buyer power affects the prices that firms can charge.Porter theorised that the more products that become standardised or undifferentiated, and hence more power is yielded to buyers. The products of banking market are getting similar therefore it increases the bargaining power of buyers. Also, buy ers have full information on demand and cost with internet, it implies that they can play the game more rationally with significant bargaining power. As more new comers are expected to enter the industry, banking customer are facing more alternatives. This is evidenced by the fact that internet banking services are now free of charge. Porter’s Five Forces Porter’s 5 forces summary According to Porter, in order to achieve competitive advantage over its competitors, analysis of current industry structure is vital because the structure of an industry determines the nature of the competition and the form that a sustainable competitive advantage takes and the industry structure is determined by the five competitive forces; the treat of substitute, the treat of entry, bargaining power of buyer, and bargaining power of supplier and the intensive of rivalry. Porter work simplified to identify five forces and then, to select one of the generic strategies.Last step of his framework is using the value chain from identifying and enhancing the business activities. His concept is based on the idea that forces facing the industry play a key role in determining success and profitability of an organisation. The analysis of five forces tells how management should respond to and try to influence those forces in a favourable way. Threat of entrant s: according to Porter new entry into the industry certainly reduces the existing firm’s profitability. How high the entry barrier of the industry affects the degree of new entry:Simply, internet banking dramatically lowers the entry barrier of bank industry. It is because entry barriers such as ‘economics of scale’, ‘brand identity’ and ‘access to distribution’ do not work any longer. Physical size can only mean high operating cost as well as in efficient and limited degrees of flexibility. The banking market is likely to see the emergence of new small banks that use internet to compete on equal ground with the financial giants. Power of buyer: buyer power affects the prices that firms can charge.Porter theorised that the more products that become standardised or undifferentiated, and hence more power is yielded to buyers. The products of banking market are getting similar therefore it increases the bargaining power of buyers. Also, buy ers have full information on demand and cost with internet, it implies that they can play the game more rationally with significant bargaining power. As more new comers are expected to enter the industry, banking customer are facing more alternatives. This is evidenced by the fact that internet banking services are now free of charge. Porter’s Five Forces Porter’s 5 forces summary According to Porter, in order to achieve competitive advantage over its competitors, analysis of current industry structure is vital because the structure of an industry determines the nature of the competition and the form that a sustainable competitive advantage takes and the industry structure is determined by the five competitive forces; the treat of substitute, the treat of entry, bargaining power of buyer, and bargaining power of supplier and the intensive of rivalry. Porter work simplified to identify five forces and then, to select one of the generic strategies.Last step of his framework is using the value chain from identifying and enhancing the business activities. His concept is based on the idea that forces facing the industry play a key role in determining success and profitability of an organisation. The analysis of five forces tells how management should respond to and try to influence those forces in a favourable way. Threat of entrant s: according to Porter new entry into the industry certainly reduces the existing firm’s profitability. How high the entry barrier of the industry affects the degree of new entry:Simply, internet banking dramatically lowers the entry barrier of bank industry. It is because entry barriers such as ‘economics of scale’, ‘brand identity’ and ‘access to distribution’ do not work any longer. Physical size can only mean high operating cost as well as in efficient and limited degrees of flexibility. The banking market is likely to see the emergence of new small banks that use internet to compete on equal ground with the financial giants. Power of buyer: buyer power affects the prices that firms can charge.Porter theorised that the more products that become standardised or undifferentiated, and hence more power is yielded to buyers. The products of banking market are getting similar therefore it increases the bargaining power of buyers. Also, buy ers have full information on demand and cost with internet, it implies that they can play the game more rationally with significant bargaining power. As more new comers are expected to enter the industry, banking customer are facing more alternatives. This is evidenced by the fact that internet banking services are now free of charge.

Implementation of Electronic Medical Records

Implementation of Electronic Medical Records Introduction Information technology has recently become one of the most reliable technologies in efficient service delivery. Implementation of the system within health sector is viewed as a move in reducing medical errors, hence promoting patient safety as well as reducing costs. However, implementation of the new models requires variety of measurable elements capable of creating an impact on patient safety initiatives (Borkowski, 2009). Proposal on Implementation of EMR Electronic Medical Records are associated with many functions within the health care system. Patient health records contain important information, such as patient health care, financial breakdown, legal information as well as detailed research and quality improvement cases. Such information is always necessary within the medical field, hence it needs to be shared amongst many professional medics within the health care field. Such demand makes it a little cumbersome to use paper health records calling for the development of an automated health recording system. Electronic Medical Record will provide chances for improving quality of care and patient safety within health organizations. The system will help in providing solution to the challenge of dealing with integrated healthcare delivery by providing detailed, reliable and accessible timely information on patient health status across the medical field whether in primary or secondary health care. The EMR will reduce the costs on keeping paper records as well as decreasing inefficiencies within health care sector. The EMR has got increased storage capabilities enabling data to be stored from any region and for longer periods of time, enabling instant retrieval of information to many people even in remote sites (Young, 200, p 99). The idea on fragmentation of clinical records posed by paper records will be minimized hence reducing costs, which could have been otherwise incurred on current and future patient care (Schloeffel, 2001, p 1). The built-in intelligence capabilities of the EMR system will assist in recognizing abnormal laboratory results. The system provides efficient access to protocols, care plans, critical paths and other databases on healthcare knowledge such as pharmaceutical information (Borkowski, 2009). Start-up costs might be of disadvantage to many since it can be excessive at times. Allocation of capital to information system provides added costs on health care expenditure. Another disadvantage is that it requires substantial technical knowledge for the system to be used efficiently. This calls for all the physicians and clinicians to have prior knowledge on the system operation for purposes of realizing benefits of interactive on-line decision support (Borkowski, 2009). Proposal on Implementation of CPOE Computerized Physician Order Entry (CPOE) presents one of the point-of-care products which will help in playing the key role in dealing with the cases concerning patient safety objectives. The system involves electronic communication of orders as well as detailed protocol for checking against drug references and other medical information. CPOE is physician-focused and will help in the issues of developing fewer medication transcription as well as order errors. The tool will help most physicians in selecting correct medication and therapies for each patient. The equipment’s ability to customize ordering processes will assist in easy identification of physician needs and most importantly allow for prevention of problem occurrence by counter checking errors before completion of any order. The tracking system involved in this technology will help clinicians and physicians to evaluate their actions and compare to those of their peers in addition to comparing treatment recommendations within the given standards and guidelines (Borkowski, 2009). However, the CPOE may not be effective on its own until it is integrated together with other crucial clinical information systems. Another disadvantage is that there is still possibility of incurring errors within the system owing to the natural assumption that computers are always right. There are also multiple steps involved in operating multiple screens required for completion of order signing. This proves to be time-consuming when used by many people is at the same time. Frequent computer access might not be possible, especially in cases where only few computer stations are available in spite of many users (Borkowski, 2009). Changes within organizations normally occur either as planned or unplanned. Planned changes are known to arise from either single or series of changes linked to organization goals and objectives. While unplanned changes normally arise as a result of the unexpected uncertainties within the organization. Various changes are required for the purposes of incorporating the modern computerized equipment with the work environment. The change undergoes three environmental stages including; societal environment, task environment then finally internal environment. Within the societal environment, EMR technology will have to be approved by the legal authorities within the government by looking at its technological and economical impacts within the health sector (Borkowski, 2009). Technologically the equipment has the capability of speeding up the recording on individual health matters as well as ability to store large amount of data and sharing it over wide area within the shortest time possible. It saves on costs since it makes health records available within reach of medical practitioners and patients. The socio-cultural forces which tend to oppose the nature of the records in exposing patients medical records to the public would be dealt with by promising confidentiality to the patients’ medical information through the use of specified passwords. Only the patients and trusted medics would be allowed to use the specified password whenever they want to access the patient’s medical information for the purposes of further treatment. Legal acts like the HIPAA would be enforced to ensure that tough measures, including fines are imposed on those trying to misuse individual’s medical records discriminatorily. In some places, employers use medical records to discriminate individuals on employment opportunities (Borkowski, 2009). The task environment includes several players such as employees, special interest groups, competitors, customers amongst others. Dealing with competitors will call for marketing the superior abilities and qualities of the technology. Employees would be placed on thorough training on how to use the equipment confidentially without loosing on the confidence of the patients concerning their medical records. Suppliers would be endowed with the task of working with computer specialists for the purposes of EMR installations. Internal forces related to the structures, processes as well as resources within the organizations which at times lead to low profit margins could be addressed by ensuring the efficiency of the equipment through delivery. This could save on costs required for the storage of large amount of documents; the technology would as well confine all medical data to one source making it easier for services to be delivered without fragmented processes (Borkowski, 2009). Some of the challenges involved include such cases as lack of autonomy, especially in the process when patient’s data is shared amongst health care providers without informing the patient. The exposure of patient’s data does not guarantee fidelity in any way since it can be stolen by unknown parties. This could easily lead to compromised treatment within the society since patients may be overwhelmed by fear of exposure. Conflicts arise within the medical ethical principles concerning safety of patient health records. There is a breach on confidentiality and right to privacy on the side of the patients. Hence patients can easily be discriminated within the market place as mentioned earlier in the article (U.S. Department of Health and Human Services, 1998). Computer-based Electronic Health Records presents one of the technological advances within health care system. Such technology is of great benefit in health sector since it has helped in improving the level of access and quality at affordable costs. On the same note, computerized system will help in providing accurate information on billing hence allowing medics to forward any payment claims electronically. This would ensure timely and efficient payment to health care providers. It would save the patient hectic time, which might arise in providing information over and over whenever they seek medical attention (Lohr, 2007). The use of computerized medical systems enables improvement on the quality of care provided and also guarantees reduction in medical errors. There is improvement in the level of efficiency and reduction in medical costs since the methods enable easy coordination between health care providers on patient’s care. The system would enable smooth transfer of information, eliminating the possibilities which had earlier been experienced in duplication of health information by the third parties (Hartzband and Groopman, 2008). References Borkowski, Nancy. (2009). Organizational Behavior, Theory, and Design in Health Care. NY: Jones Bartlett Ppublishers. Hartzband, P. Groopman, J. (2008). Avoiding the Pitfalls of Going Electronic? New England Journal of Medicine, (358), 1656-1658. Lohr, S. (2007, June 11). Risks and Rewards; Who Pays for Efficiency. New York Times. Web. Schloeffel, P. (2001). Background and Overview of the Good Electronic Health Record. Retrieved from gehr.org/ U.S. Department of Health and Human Services. (1998). Security and Electronic Signature Standards; Proposed Rule. The Federal Register, 45 (142). Young, K. M. (2000). Informatics for Healthcare Professionals. Philadelphia: F.A. Davis.

Globalisation Essay Example | Topics and Well Written Essays - 500 words - 2

Globalisation - Essay Example During the past era globalization was discussed as a process that draws different cultures and nation into greater interaction and communication. This made globalization to be seen as fact that we all increasingly live in the world, groups; individuals become ever more interdependent. Economy or economic system includes the production of goods and services, distribution or trade of commodity and the final utilization of the produced goods and services by different consumers in a given geographical location (Steger, 2013). The economic negotiators can be individuals, organizations, businesses or governments. For a better economy, a transaction must be occurring between two parties who agree on the price of a transacted service or product, commonly expressed as a currency or worth of that product. Media (communication) is a tool applied to deliver and store data or information regarding any news and can be seen as a communication instrument. The primary vehicle of the phenomena of global media is the multinational corporation that is used to collect information from one area to another and deliver it globally all over the world. Media globalization has supported in both the distribution and production of information. Examples of media aided globalization technology include radio, music, satellite among others (Steger, 2013). Political ideology to set of norms, beliefs or doctrines that are shared by the members of a specific social group that forms the basis of economic factors, political or another system. Political ideology in globalization involves media facilitation on the exchange of cultural or political factors that affect the career of a politician. Politics has been globalized since the views of one politician can be analyzed by another one from different regions as information is conveyed from one area to another, which has led to

INTERNATIONAL & CROSS-CULTURAL MARKETING Essay Example | Topics and Well Written Essays - 2750 words

INTERNATIONAL & CROSS-CULTURAL MARKETING - Essay Example Cross cultural marketing says that marketers should understand that there is very little scope for ethnocentrism in international business. The marketers should also understand that no culture is better than the other. Today ‘cross-culturalization’ is inevitable just like globalization. Therefore the key to the success of the companies in case of international marketing lies in the degree to which the companies can differentiate and understand the cultures of the host nations. The present study has been done in order to analyze the cross cultural and international strategy of Al- Jumeirah. Al- Jumeirah is a UAE based luxury hotel chain. Here the targeted host country has been chosen as China. China has been chosen as it happens to be one of the fastest growing economies in the world since the entry to WTO. Over the course of the study the issues such as factors influencing the entry of Al- Jumeirah in to China; business environment of China; segments to be targeted; demographics ;cultural issues of China has been discussed from an international and cross cultural perspective has been discussed (Kotabe and Helsen, 2008, p. 301). Before entering to China Jumeirah was present was present in economies that are mostly matured and statured in nature including U.K., Germany etc. Such economies usually provide very few opportunities for growth. Add to that the economic downturn provided additional threat to the hotel chain. Therefore in order to combat the fluctuating economic conditions the hotel chain decided to enter an emerging economy like China. In order to attract the foreign companies to invest in the country so that the country can achieve industrialization and economic growth the China entered WTO in the year 2001 after several years of negotiation. As a result the government was bound to follow the WTO trade regulations which meant that