Different reasons people communicate Essay

In general, human beings like to live with other human beings. Most of us are sociable creatures who want to reach out to other people around us. Very few humans lead completely solitary lives. People also communicate for specific reasons; in order to express Emotions such as: †¢ Fear †¢ Anger †¢ Pain †¢ Joy †¢ Love. People want to get views, wishes and information across to others for all kinds of reasons. Sometimes this can be essential – even life saving in the case of a warning. It can be vital to make a person’s quality of life Better if they are communicating that they are in pain or it can be to make Emotional contact with others to express feelings. People live and communicate within a range of different groups and Communities, including: †¢ Families †¢ Neighborhoods †¢ Workplaces †¢ Schools and colleges. The nature of communication is very different dependent on the Circumstances. Some communications are personal and very intimate; these are usually with people to whom we are very close. Other communications are for a wider audience and are aimed at groups of people. Communication can be formal, such as in a courtroom setting, or informal, such as friends chatting. 2†¦ Explain how communication affects relationships in the work setting. Effective communication is a two-way process – sending the right message that is also being correctly received and understood by the other person/s. It is essential that there is good and effective communication taking place within the work setting. Daily tasks will only be successful with smooth transfers of information. In order for me to develop within my role, there must be effective communication between the children and myself. This will help keep positive morale and improve the quality of work. People that do not feel as if they have good communication with their carers may not be as efficient with their work. Effective communication skills are also needed to encourage staff and myself to talk about what we are feeling, to say what we think or to express our needs, concerns, wishes or preferences. Positive verbal and non-verbal communication skills, such as being friendly, smiling and shaking hands when greeting parents and staff, are required on a daily basis. Effective communication can help promote and create a positive working environment. Without communication the world would be a lonely place and communication is particularly important in the work setting as it can affect the relationships you build. Team communication is important as it is important to keep everyone in the group knowledgeable about what is going on within that group. As I would be communicating with parents, colleagues, children and other professionals (i.e. health visitors, speech and language therapists, social workers, other schools, Police and other governing bodies) it is important that everybody is provided the information they need. Communication is vital to establishing effective relationships in the work setting. It would allow you to expect support from your colleagues and to provide them with the necessary support in times of stress and difficulty.re and am there to support the children. 3†¦ describe the factors to consider when promoting effective communication. Verbal communication: Tone and pitch of your voice, does it suit the situation or topic? A louder more direct communication maybe required if trying to get the attention of a group of children to come back inside. However this would not be suitable in a situation whereby a child is upset say for example if they have wet themselves and are embarrassed, this would need a quieter and understanding tone to reassure them. Use of language is important, when talking to children you need to keep things simpler than if you were talking to an adult, however if you talking to an adult using very simple instructions this may be deemed as patronizing. So it is important to choose your language carefully. The speed in which you talk is also key. When talking to children I tend to get down to their level and talk to them at a relatively slow speed, this way they are more likely to understand me more than if I was walking round above them talking as though I would talk to adults. Non-verbal communication: Facial and hand gestures, again this needs to be tailored to the situation or topic. In the example above, a smile and perhaps a hand on their shoulder is sufficient to the situation. Whereby frowning and waving arms as if annoyed would be detrimental to the feelings of the child. Eye contact is an important factor as this engages the audience, keeping them focused on what you are discussing. By making eye contact you are directing your conversation at that specific person, demonstrating that you are devoting your time and are not able to be distracted as if you would by looking around. Body language plays an important part, for example folded arms can indicate you are being defensive or not open to suggestions, whereas slouching, hands on hips, rolling of eyes and huffing can seem rude and disrespectful. 4†¦ Be able to overcome barriers to communication. Identifying communication needs: use of personal histories; involvement of the individual; involvement of family, friends and carers Barriers to communication: environmental eg: seating, lighting, external noise, situation of the setting; emotional issues eg: shyness, low self-esteem; social; psychological eg: mental ill health, results of abuse, neglect; sensory, hearing and sight impairment; speech and language barriers following strokes; cerebral palsy; cultural eg: related to gender, inappropriate use of gestures; English as an additional language. Promotion of communication: use of preferred language including British Sign Language; use of human aids, interpreters, translators; use of technological aids, hearing aids, induction loops, Braille software; cultural awareness; active listening skills; the need to give individuals time to respond; speech and language therapy Language proficiency affects every aspect of a person’s life. Lack of fluency in English has a major impact on people’s ability to get information. A social hierarchy exists in most cultures, which can create issues in workplace communications. For instance, men from some cultural backgrounds may not adapt easily to working equally with women. Understanding the relationship between the sexes and the roles assigned in various cultures will give you an insight into how customers from particular cultural groups might respond in an Australian environment. Differences in non-verbal behavior Cultural differences in non-verbal behaviors are a common source of misunderstandings and conflict in the workplace. For instance, many westerners like to make eye contact, interpreting it as an indication of interest and honesty. They also show friendliness through relaxed body language. If these behaviors do not happen, it can be interpreted as shiftiness, coldness and disinterest. However, in some cultures, averted eyes and non-demonstrable behavior are. a sign of courtesy and respect. Being aware of these Nuances will help you to reduce negative impressions in inter-cultural communications among co-workers and customers. Personal space People from different cultural backgrounds may have different ‘comfort zones’ — some Like more distance between themselves and others, some like to be closer. Responses to authority Attitudes to authority vary markedly between cultures and exert a distinct effect on workplace behaviors. Religion In many cultures, religion dominates life in a way that for strongly secular workplaces may be difficult to understand. These differences need to be respected and the needs associated with religious commitments understood and sensitively negotiated within the workplace. Clear communication on both sides about these issues is to be encouraged. Personal appearance Grooming, dietary and eating habits and dress varies in different cultures. Some people within their community may choose to wear their national dress or religious garments. Keep in mind that attitudes and communicative behaviors are not neutral but strongly conditioned by cultural values. As a simple example, if you say to a customer, ‘Please sign here’, you expect them to know that you want them to pick up the pen and sign exactly where you have indicated. But, if you think about it, you are assuming that the person: _ can hear you _ speaks the English language _ knows how to use a pen _ knows where they need to sign _ knew what a signature was _ understands what they are signing for _ If the person didn’t hear you, didn’t speak English, did not have a signature, didn’t know how to use the pen, did not understand where they needed to sign, or did not know what they were signing for the communication will not be successful. 1. Explain how people from different backgrounds may use and/ or interpret communication methods in different ways Language proficiency affects every aspect of a person’s life. Lack of fluency in English has a major impact on people’s ability to get information. Therefore communication skills training is a critical career development to help the children/ young people understand. Roles and status A social hierarchy exists in most cultures, which can create issues in workplace communications. For instance, men from some cultural backgrounds may not adapt easily to working equally with women. Understanding the relationship between the sexes and the roles assigned in various cultures will give you an insight into how customers from particular cultural groups might respond in an Australian environment. Differences in non-verbal behavior Cultural differences in non-verbal behaviors are a common source of misunderstandings and conflict in the workplace. For instance, many westerners like to make eye contact, interpreting it as an indication of interest and honesty. They also show friendliness through relaxed body language. If these behaviors do not happen, it can be interpreted as shiftiness, coldness and disinterest. However, in some cultures, averted eyes and non-demonstrable behavior are a sign of courtesy and respect. Being aware of these Nuances will help you to reduce negative impressions in inter-cultural communications among co-workers and customers. Personal space People from different cultural backgrounds may have different ‘comfort zones’ — some Like more distance between themselves and others, some like to be closer. Responses to authority Attitudes to authority vary markedly between cultures and exert a distinct effect on workplace behaviors.Religion in many cultures, religion dominates life in a way that for strongly secular workplaces may be difficult to understand. These differences need to be respected and the needs associated with religious commitments understood and sensitively negotiated within the workplace. Clear communication on both sides about these issues is to be encouraged. Personal appearance Grooming, dietary and eating habits and dress varies in different cultures. Some people within the Australian community may choose to wear their national dress or religious garments. Keep in mind that attitudes and communicative behaviors are not neutral but strongly conditioned by cultural values. As a simple example, if you say to a customer, ‘Please sign here’, you expect them to know that you want them to pick up the pen and sign exactly where you have indicated. But, if you think about it, you are assuming that the person: can hear you, speaks the English language, knows how to use a pen, knows where they need to sign, knew what a signature was, understands what they are signing for If the person didn’t hear you, didn’t speak English, did not have a signature, didn’t know how to use the pen, did not understand where they needed to sign, or did not know what they were signing for the communication will not be successful. Use of Simple Language: Use of simple and clear words should be emphasized. Use of ambiguous words and jargons should be avoided. Reduction and elimination of noise levels: Noise is the main communication barrier which must be overcome on priority basis. It is essential to identify the source of noise and then eliminate that source. Active Listening: Listen attentively and carefully. There is a difference between â€Å"listening† and â€Å"hearing†. Active listening means hearing with proper understanding of the message that is heard. By asking questions the speaker can ensure whether his/her message is understood or not by the receiver in the same terms as intended by the speaker. Emotional State: During communication one should make effective use of body language. He/she should not show their emotions while communication as the receiver might misinterpret the message being delivered. For example, if the conveyer of the message is in a bad mood then the receiver might think that the information being delivered is not good.   Simple Organizational Structure: The organizational structure should not be complex. The number of hierarchical levels should be optimum. There should be a ideal span of control within the organization. Simpler the organizational structure, more effective will be the communication. ï‚ · Avoid Information Overload: The managers should know how to prioritize their work. They should not overload themselves with the work. They should spend quality time with their subordinates and should listen to their problems and feedbacks actively. A solution to the barriers is emotional intelligence which can be mastered and lead to better relationships. Emotional intelligence is the ability to understand others and work with them. There are five characteristics of emotional intelligence. Being self-aware is the most important. It is the ability to distance oneself from their emotions so that they can look at the emotion without becoming overwhelmed or reacting to it too quickly. This piece of intelligence would help a person who is struggling with stereotyping. If the person knows that every time they see and African American person they become nervous because they believe they are all aggressive, they can take a step back and look at where that emotion came from. Once they have identified the source, they may be able to isolate the emotion and try to move past is by realizing that it is an irrational fear. There is an equal chance that a Caucasian or African American person is aggressive. The second characteristic is the ability to manage emotions which means expressing them in a way that is appropriate for the setting). Once a person has become aware of the emotion, they can come up with a way to handle the emotion. The person who gets nervous around African Americans may be able to look at where they are. If they are at a dinner party at a friend’s house and the African American friend of the friend shows up, there is a good chance they are not agg ressive. The person who is nervous may be able to walk away for a minute to collect themselves and then act as they should through a dinner party. In a setting where a young looking mother is out with her parents, the person might take the time to ask how old she was and what her situation was. The person may find that the young mother is responsible and owned up to her mistakes or that the mother is older than they thought and did not make a mistake. The third characteristic is the ability to motivate oneself which is setting a goal and reaching it. For the person who is nervous around African Americans, the goal may be to sit at the table and hold normal conversation with the dinner guests. They would then have to try to reach that goal by managing their emotions and following through with the dinner. For a person who looks down on teen mothers, the goal may be to accept all mothers as if they are the socially accepted age for parenting unless there is a clear reason why this mother is inad equate. The might reach that goal by always asking questions when they feel that a mother is inadequate because they are young. The fourth intelligence is recognizing emotions in others, which is called empathy. The best way to do this is to listen to what people are really saying and trying to understand it by observing their body language along with their actual language. In genders this can be difficult. Men tend to want to solve a problem where women want a sounding board, someone who understands them. If they can listen to each other and try to understand what the other wants and how they are feeling, the relationship will go better. For men, they often do not try to understand why a woman is upset when her friend says she should lose a pants size. He does not put himself in her shoes and does not easily relate to the problem. Instead, he might try to solve the problem by complimenting her or getting her a gym membership. This is not effective communication. The woman was not looking for a way to lose a pant size, but rather a person that would understand why she was the size she was and how bad it feels to be told she is too big. Body language plays a part in improving a person’s emotional intelligence. A person who is first starting out with improving their emotional intelligence, they may come across difficulties in the first four characteristics because what they are saying does not match up to their body language. A person might ask the teen mother her age, but still have a posture that shows they do not approve of this mother having a child. A person who fears African Americans may be able to sit through a dinner and talk nice, but might look as though they are ready to run out of the room if a butter knife is picked up the wrong way. The fifth characteristic is the ability to handle relationships. The person needs to recognize their own needs as well as the needs of the other person. They need to find a balance where both sets of needs, is met as fully as possible. If the person is always bending to meet all the needs of another person and neglecting their own needs, they are not going to be satisfied with the relationship for long. On the other hand, if the person ignores the other person’s needs and only fulfills their own needs, the other person is not going to be satisfied for long. With an understanding of how barriers, culture, gender, and emotional intelligence effect communication, a person is more able to communicate effectively and have fulfilling relationships. If these things are ignored, communication breaks down and a person can become isolated. 4†¦. Be able to apply principles and practices relating to confidentiality.

Milk Tea Essay

BUSINESS POLICY AND STRATEGIC MANAGEMENT Business Policy as Discipline The origin of business policy can be traced back to 1911, when Harvard Business School introduced an integrative course in management aimed at the creation of general management capability. This course was based on interactive case studies which had been in use at the school for instructional purposes since 1908. The course was intended to enhance general managerial capability of students, the introduction of business policy in the curriculum of business schools/management institutes came much later. In 1969, the American Assembly of Collegiate School of Business, a regulatory body for Business, a regulatory body for business schools, made the course of business policy, a mandatory requirement for purposes of recognition. Basically business policy is considered as a capstone, integrative course offered to students who have previously been through a set of core functional area courses. The term â€Å"business Policy† has been traditionally used though new titles for the course have begun to be introduced in recent years. According to William F. Glueck, development in business policy arose from the development in the use of planning techniques by managers. Starting from day-to-day planning in earlier times, management tried to anticipate the future through preparation of budgets and using control system like capital budgeting and management by objectives. With the inability of these techniques to adequately emphasize the role of future, long-range planning came to be used. Soon, long range planning was replaced b y strategic planning, and later by strategic management, a term that is currently used to describe the process of strategic decision making. Business policy, as defined by Christensen and others, is â€Å"the study of the functions and responsibilities of senior management, the crucial problems that affect success in the total enterprise, and the decisions that determine the direction of the organization and shape its future†. The problem of policy in business, like those of policy in public affairs, have to do with the choice of purposes, the moulding of organizational identity and character, the continuous definition of what needs to be done, and the mobilization of resources for the attainment of goals in the face of competition or adverse circumstances. Business policy tends to emphasize on the rational-analytical aspect of strategic management. It presents a  framework for understanding strategic decision making. Such a framework enables a person to make preparations for handling general management responsibilities. Meaning and the Nature of Management To understand strategic management. We need to have a basic understanding of the term management. The term management can be used in two major contexts. A) It is used with reference to a key group in an organization in-charge of its affairs. In relation to an organization, management is the chief organ entrusted with the task of making it a purposeful and productive entity, by undertaking the task of bringing together and integrating the disorganized resources of manpower, money, materials, and technology into a functioning whole. An organization becomes a unified functioning system when management systematically mobilizes and utilizes the diverse resources. The survival and success of an organization depend to a large extent on the competence and character of its management. Management has to also facilitate organizational change and adaptation. B) The term is also used with reference to a set of interrelated functions and processes, to a field of study of discipline in social science and to a vocation or profession. The functions and processes of management are wide-ranging but closely related. They range all the way from design of the organization, determination of the goals and activities, mobilization and acquisition of resources, allocation of tasks and resources among the personnel and activity units. They also include adoption of certain techniques, tools and methods for carrying on activities, through articulation of skills and efforts of organizational personnel in a unified manner and installation of communication and control system to ensure that what is planned is achieved. A wide range of definition of management exist in the literature on management. Here we shall cite the definition of a few theories: Peter Drucker: Management is a function, a discipline, a task to be done, and managers practice this discipline, carry out the function and discharge these tasks. Dalton McFarland : Management is the process by which managers create, direct, maintain and operate purposive organizations through systematic, co-ordinated an co-operative human effort. Management is an influence process to make things happen, to gain command over phenomina, to induce and direct events and people in a particular manner. Influence is backed by power, competence, knowledge and resources. Managers formulate their goals, values and strtegies, to cope with, to adapt and to adjust themselves with the behaviour and changes of the environment.

Discuss how you perceive risk. What toxicological risks do we Essay

Discuss how you perceive risk. What toxicological risks do we experience in our daily lives, sometimes without recognition Wh - Essay Example Sources of risks The most public health threatening toxicological risk is attributed to diet which contain with them carcinogenic chemicals that results into tumours, this include certain foodstuffs and food additives that are commonly used unknowingly. Factories emitting toxic gases also predispose individuals to contracting health related complications, chemical substances like benzene when inhaled leads to leukemia. Radon gas that is naturally produced from the ground is equally poisonous. Use of pesticides and other chemical substances to control microbial infections can also cause toxicity to human health; the toxic substances gain entrance in the body through inhalation and dermal route leading to mutations, oncogenesis and teratogenesis. Predisposing activities The risks can be accelerated by consumption of food stuffs notably vegetables that are grown in areas supplied with sewerage water leading to heavy metals presence in the plant cells that induces oncogenicity, use of pe sticides without protective gadgets impact negatively to the body hence mitigation measures have to be complied with. Consumption of salads may contain staphylococcus aureus exotoxins a causative agent of toxic shock syndrome.

Vodafone Finance Report Case Study Example | Topics and Well Written Essays - 2500 words

Vodafone Finance Report - Case Study Example According to Reuters (2005) analysts' opinion, the company is outperforming currently (financial ratios provided can be seen in Appendix 1). The group turnover was 34,133 m on the year ended March 31, 2005, which was 33,559 in 2004 and 30,375 in 2003 (Vodafone Annual Report, 2005, p. 78). Presented in percentage, the growth of turnover in 2003/04 was 10.4% and in 2004/05 it was 1.7%. The rise of the group turnover represents the addition of new customers and the increase of revenue from value added services. Looking at the five-year annual growth of turnover given on the diagram 1 it can be easily seen that the company's rate of expansion is decreasing. During previous years the company was rapidly expanding due attraction of new customers; now the customer audience of Vodafone is stable. The interim results of six months ended September 30, 2005 show that the group turnover has increased 9% to 18,250 m (Reuters, 2005). Reasonably the cost of sales in 2005 has increased along with the group turnover, leading to the gross profit of 13,380 m. In 2004 gross profit was 14,098 m and in 2003 it was 12,479 m (Vodafone Annual Report, 2005, p. 88). This gives us the ability to evaluate gross profit margin providing us with the information on how much of the group turnover can cover the non-operational costs by dividing gross profit on group turnover. The following diagram shows the three-year perspective. As can be seen there is hardly a trend can be outlined, but it can be concluded that the gross profit margin has fallen to 39.19%, indicating the rise of operating costs. Diagram 2: Gross profit margin (%) The group's operating loss was 5,304 m, 4,842 m, 5,052 m in 2005, 2004, and 2003 respectively (Vodafone Annual Report, 2005, p. 78). Thus we can calculate the net profit margin, showing us basically the percentage of profit earned on sales, or in this case the percentage of losses lost on sales. Basically, net profit margin shows the profitability of the company. It is found by dividing operating profit (loss) on group turnover. The next diagram shows the net profit margin of three years. As can be seen the previous year 2004 was more profitable for Vodafone than 2005. Additionally Reuters (2005) report of net income 23% decrease to 2,780 m in the first half of 2006. The reasons of the decreasing profitability are increased operating costs, administrative expenses and a decrease of non-operating income. Diagram 3: Net profit margin (%) Liquidity Liquidity is important for the company as it reflects the ability of meeting its liabilities. High liquidity can detract from profits, because liquid assets are low returning investments. Low liquidity stunts company's growth and eventually leads to bankruptcy. Liquidity ratio is measured with dividing the current assets of the company by the its current liabilities. Current assets of Vodafone were 11,794 m and 13,149 m in 2005 and 2004 respectively (Vodafone Annual Report, 2005, p. 79). Current liabilities to creditors were 14,837 m in 2005 and 15,026 m in 2004 (Vodafone Annual Report, 2005, p. 79). The comparison of liquidity ratios for 2004-2005 can be found in the following table. Along with current ratio there is a quick ratio, which shows the ability of a company to repay its liabilities with cash only excluding inventory assets (sales of inventory are often

Swire Pacific Case Study Example | Topics and Well Written Essays - 1000 words

Swire Pacific - Case Study Example Through its development it has nearly 4000 permanently employed staff and over 9000 cockpit and cabin crew, which enables the company offer unrivalled services, with this numbers its one of the highest employer in Honk Kong's economy. Cathy pacific services limited won the bid in the first quarter of 2008 to set up a new cargo handling facility at the Hong Kong International Airport in the which would be built at a cost of HK$4.8 billion, with this it would be able to handle the largest air cargo in world within the year 2011 upon its completion (Steger, 2003). The airline has partnered with other major global airlines in the oneworld global alliance, which serves in 150 countries with more than 700 destinations. It also has interest in airline catering services with one of the largest flight kitchens in the world, with wholly owned subsidiaries servicing other international carriers across Hong Kong. With Swire owning 40% of Cathy Pacific Airways it has interest in aviation engineering through Hong Kong Engineering Company Limited after a merger was sealed between the companies. Being listed on the Hong Kong stock market, it has 4,600 employees in Hong Kong. It is the largest maintenance service provider in Hong Kong International Airport and in Asia's aeronautical maintenance industry. With the construction of the third and fourth maintenance hangar it provides Hong Kong extra employment and income generating opportunities. With 2000 employees in its ground services company in Hong Kong, as well as its Vogue Laundry Unit serving over 20 airlines, it has an edge over Hong Kong's economic prospects on its hospitality industry than any other aviation company around (Murray, 2006). Beverages With Swire Pacific being an anchor bottler with coca-cola, it is the main distributor and product developer for coca-cola brands in Hong Kong and mainland China, under the brand name Swire coca-cola Hong Kong Limited where Pacific owns 87.5% in shareholding. This clearly makes Swire Pacific the highest employer in Hong Kong beverage industry through its high operations base and more than 15 distribution and sales centers to serve a market base of more than 47million in Hong Kong and 400nillion around the globe. Apart from the coca-cola products it also produces mineral water and ready to drink milk tea either with Nescaf'e or Nestl ingredients (Steger, 2003). Hospitality Swire also has interests in the hospitality industry through the completion of its boutique hotels in Hong Kong by its wholly owned subsidiary Swire Hotels, which would be luxurious hotels offering lifestyle to travellers in search of personalized and individual services. This would make Hong Kong one of the major tourist and business travel destinations in the larger Asia. With promotion of the tourism industry it would earn Hong Kong the much needed foreign cash flow and high employment opportunities in its economy (Bastardas-Boada, 2002). Economic Assessment of Asia-Pacific Tourism sector in this

Fundamental concepts and techniques in accounting and finance Essay

Fundamental concepts and techniques in accounting and finance - Essay Example Fundamental concepts and techniques in accounting and finance The field of financial management has experienced gradual but significant change during the twentieth century. During the first two decades of the century, financial managers were concerned mostly with the legal issues surrounding the issuance of stocks and bonds. This focus of attention reflected the primitive nature of the capital markets in the early 1900s, the wave of mergers and consolidations occurring at that time, and the lack of what now is considered routine full disclosure of accounting and financial information about companies offering securities to the public. With the Depression of the 1930s, the main focus of financial management shifted to the defensive aspects of business survival. As we enter the twenty-first century, the most significant trend to impact successful corporate financial management will be the continuing globalization of business in general and financial management in particular. There is no major U.S. or foreign corporations that do business solely within the confines of their own country. The need to deal with multiple currencies, worldwide money and capital markets where investment capital moves across borders at an increasing pace facing fewer and fewer barriers, a wide variety of accounting systems and tax laws, and a multitude of political risk environments is now a normal part of the responsibilities of a corporate financial manager. This globalization of business does not change the fundamental theories of corporate financial management, but it does have a substantial impact on corporate financial practice and domestic financial markets. ... t change the fundamental theories of corporate financial management, but it does have a substantial impact on corporate financial practice and domestic financial markets. The only thing certain about the future is that finance and industry will continue to change, offering new challenges and opportunities to financial managers. The importance of competent financial management to the success and even survival of the modern business organization cannot be overemphasized. It is no accident that presidents and board chairpersons of large, successful corporations increasingly rise to their positions by coming up the "finance side of the house" (Kaplan, 1989). In smaller business, experience has shown that the early survival of a new business and prosperity in its developing stages is strongly dependent on effective financial planning and control. The most common reason cited for the high failure rate experienced by new ventures is lack of financial expertise. Similarly, financial administration is receiving increased attention by governmental units at all levels. Financial management in all types of nonprofit corporations and organizations is also benefiti ng from increased attention. Competent financial planning and management are critical components of success in any organization that brings people together to achieve a common goal. The impact of inflation and high interest rates has focused increased attention on the financial implications of nearly all business decisions. Knowledge of financial management principles and techniques has become even more important during our current era of economic uncertainty. Functional specialists in such diverse areas as marketing, production, and human resources management have environment in which the firm operates. A

Summary of a Professional Ethics Article Essay Example | Topics and Well Written Essays - 1250 words - 1

Summary of a Professional Ethics Article - Essay Example This is quite synonymous to the fact that every citizen can avail medical facilities when they require it. In the United States, there are several active private organizations that are providing legal services to the general public on a very low price. Their charges are not dependent on the market price. Government is also taking an active part in providing legal facilities to the citizens where they cannot afford one. In order to determine who provisions these legal services, the author has taken a few assumptions. One such assumption involves that the community has accepted an adversary system. The adversarial system involves having advocates from both parties and then having a judge or a jury decides what is right (Corrin,  2004, p.  3). It is assumed that the citizens will have 4 basic rights: Every citizen is entitled to log a complaint to a judge or a tribunal, once a complaint is logged, the other party has to come in front of the court and explain their actions, they have a right to unanimously agree on the decision the judge has made and if the complaining party wishes, they can have the decision implemented. Since the judge is only involved for the decision making process, it is also assumed that the parties will gather their evidences (Richards & Rathbun,  1999, p.  6). It is also assumed that the judge has a responsibility to provide a healthy space for both parties to present their arguments, to give a fair decision, to make the rule applicable for all future similar cases and to explain their reasoning process to make it understandable to both parties involved why that specific decision was taken. This system relies on both parties to unanimously agree with the decision placed by the judge and the judge to be impartial (Glendon, Wright-Carozza, & Picker,  2008, p.  101). Once the judicial system is setup, it is important to understand the need for the community to be well aware of their rights to avoid injustice.

Glass Ceiling Still Unshattered question wether or not there are Assignment

Glass Ceiling Still Unshattered question wether or not there are barriers to womens advancement in the firm. Please see below - Assignment Example Meanwhile, Deontological ethics demonstrate the need to employ and hire people of all genders without discrimination, and it is the duty of employers not to exercise such unethical acts as discriminating other genders. According to Bohlander and Snell (2009) women roles, abilities and prohibition from informal networks is a barrier to the success of women in the company, because men think women lack significant management and experience due to their commitments and family responsibilities. The company guidelines and practices affect the way women are treatment and form barriers for their advancement in the business line. Most executives often take advantage of their top position and harass women sexually in cases of promotions and job opportunities. Recently the company has made a progress in employing qualified women in different positions, but they still have problems in developing and advancing them into positions of senior management; this necessitates drastic improvement. In conclusion, the Corporate American working environment for women in the different position in business should reflect development, but regrettably, this is not the case. Glass Ceiling prejudices and discrimination will always affect women, but the company should make policies that advocate changes for women to improve their career development in the company irrespective of their sexual

Antibiotics may make Fighting Flu Harder Essay Example | Topics and Well Written Essays - 1000 words

Antibiotics may make Fighting Flu Harder - Essay Example This is a significant consideration as the study in the article explores elements of effectiveness as related to these antibiotics. Another prominent background consideration is the nature of ‘commensal’ bacteria. While generally bacteria in the human body contribute to illnesses such as the flue, studies have argued that commensal bacteria actually contribute to the body’s proper functioning (Saey 2011; "Commensal science," 2010). Indeed, it’s been argued that there are over 100 billion commensal bacteria in the body that contribute to digestion, acquiring of nutrients, and most notably encouraging the immune system to prevent the colonization of harmful bacterial pathogens ("Commensal science," 2010). While the common flue is generally not considered life threatening its existence among nearly all members of the human species makes it a significant area of investigation; in this way the article is highly relevant in terms of its area of focus. This articl e advances considerations in this field of investigation through investigating how antibiotics might kill some commensal bacteria that actually prevent the onset of the flue. Discussion of the Science There are a number of elements of the article that are relevant from a scientific perspective. As noted the study examined processes where commensal bacteria regulated immune system actions. More specifically, the study considered how commensal microbiota regulate immunity in the respiratory mucosa through the activation of inflammasomes. While previous research had established that commensal bacteria stopped the establishment of harmful bacterial pathogens in the gut, this research established that they may also contribute to preventing the colonization of these harmful pathogens in the digestive system. The study implemented specific experiments on mice. In this way the scientists treated the mice for a month with four antibiotics that are typically given to humans for bacterial infe ctions. The specific antibiotics administered were vancomycin, neomycin, metronidazole, and ampicillin. These antibiotics were administered orally in doses of 10, 11, 24, 26 mg, respectively. The mice were kept on this treatment program of antibiotics throughout the entire month long period. After treating the mice with these antibiotics, the mice were then infected with the flu. This flu combination was a 10 pfu sublethal dose of A/PR8 influenza virus. The researchers then observed and recorded the findings. In the observation process the Ig levels and T-cell responses were monitored and recorded. In these regards, the scientists identified that the antibiotics prevented the mice from creating interleukin-1 beta or IL-1 beta. Interleukin-1 beta has been understood to be an essential component that is used to combat influenza and other viruses. Additionally, the study demonstrated that both cytokine secretion and the frequency of the influenza virus specific CTLs were decreased. The se results were then cross compared with another part of the mice internal system. In this way the study immunized the mice with ovalbumin in complete Freud’s adjuvant in the footpad. This aspect of the study allowed the researchers to compare the immunodeficiency response in the lung with that in the gut. The researchers were then able to identify how eliminating commensal bacteria in one part of the rodent’

Shakespeare Essay Example | Topics and Well Written Essays - 2500 words - 1

Shakespeare - Essay Example Shakespeare wrote the second series of history plays at the peak of his career, roughly around 1595-1599, covering the history from around 1398-1420. Although the events he writes about occurred around two centuries before his time, but Shakespeare expected his audience to be familiar with the characters and events he was describing. The rise and fall of kings and the battles between the houses were woven into the cultural fabric of England and formed and integral part of country's patriotic legends and national mythology. The specific details of important historical events have obscured with the passage of time and thus, the heroes and battles of an event are to a degree, cloaked in myth. The plays innovatively mix history and comedy, moving from lofty scenes of kings and battles to base scenes showing ruffians engaging in robberies and drinking. The strength of the plays is its remarkable richness, a variety of textures and a fascinatingly ambiguous take on history as well as on political motivation. Shakespeare drew on a number of sources for writing his history plays as he did in almost all of his work Since it is not possible to know Shakespeare's beliefs, attitude and the methodology he used in writing his plays, we can only hypothesize on the basis of his textual evidence regarding his authorial intentions and the underlying didactic message found in the second tetralogy

Vietnam War Essay Example for Free

Vietnam War Essay The film shows the importance of having an army that is well equipped and knows what their enemy has for troops and artillery. This battle at the La Drang Valley is important to the rest of the Vietnam War because this is where helicopter-based. The air mobile operations helped the U. S army because it was able to bring soldiers and supplies into the combat zone. Without these helicopters and supplies the soldiers that were at the combat zone would not have stood a chance against the Viet Cong army. Film stayed as close to the historical truth as possible. The names and events that are in the movie match with the true events that occurred during the war. Some minor details in the film slanted from the reality, requirement of the commercial movies. Major part of the movie is critical in depicting the war time events to as close as possible. It gives profound knowledge of the historic war, thus contributing to the nation as a source of knowledge. The film We Were Soldiers is not an invention of historical truth but actually a history movie that enables new generations to view the war visually that happened in Vietnam. The visual graphics of the movie are outstanding and it is simply remarkable how they are able to make things look so real. The plot of the movie is wisely done. There were numerous short scenes in this section of the movie that were both fascinating and gave life to it. It is based on fact and shows the facts very well. Although there is some fiction in this film it is not a faction, or combination of truth and fiction. The film is true but with certain Hollywood aspects which you will get in most movies. Although the Vietnam War was a very controversial war this was not portrayed as much as it should have been in the movie. The film shows very little insight into the publics attitude regarding war with northern Vietnam. Even though this was the first battle in Vietnam they were no opinions expressed by the public in this film. The only hint of what the public thought about the war was with the soldiers wives that were home, and they shared biased thoughts because their husbands were fighting in the war so obviously they thought that it was an unnecessary war. This film gave us insight into the beliefs of the united states government as they were at war because of their beliefs that communism was bad, and all communists nations had to be dealt with and punished for they wrong doings and be made into democratic nations. It showed that the military would send troops into battle being outnumbered just to make a country do what the United States wanted it to do. This film was inspired by the book We Were Soldiers Once†¦And Young, written by Harold G. Moore. Moore was the Lt. General at the battle of The La Drang Valley. He wrote this book about the battle that took place there and has interviews with soldiers from both sides about the battle. He also talks about the importance of the helicopters role in bringing men into battle and how this would play a huge part in the rest of the war in Vietnam. The book was the basis for the historical relevance of the movie. The film got most of its information about what really happened at the battle zone through the book as it was written from the commanding officer at the battle and interviews were taken from soldiers that were there and fought and witnessed what was going on first hand. The battle at the La Drang Valley shows us insight into what further battles in Vietnam would look like and what the American military would have to do to be victorious in Vietnam. The film We Were Soldiers shows us this in a first hand experience. It takes us to the actual battlefield and shows us the hardship and defeat that the American soldiers had to go through to stay alive and defeat the Vietnam army. This film is very important to this generation and the next generations to come as is shows close detail of the first battle of the Vietnam War. Bibliography 1. http://bluray. highdefdigest. com/weweresoldiers. html 2. http://search. reviews. ebay. co. uk/We-Were-Soldiers_EAN_7321900934787_W0QQfvcsZ1172QQsoprZ3951947

BTEC Business Essay Example for Free

BTEC Business Essay Shell is a multinational oil and gas company with around 87.000 employees in more than 70 countries. It is one of the world’s most valuable companies. Shell was started by Marcus Samuel back in 1833, he was a shopkeeper in London. In 1907 they merged with The Royal Dutch Petroleum Company. 1.1.11.1.2 Having a lot of offices/petrol stations all around the world makes them a global business and it’s a private business because it’s not owned by the government. Their goal is to make more money than they spend, so Shell is a profit business. Shell is in all three sectors because they dig oil (Primary Sector, they produce the oil (Secondary Sector, and lastly they sell it as well at their petrol stations. Their products are mostly oil and gas but they also have services for example, you can fill your tires with air, you can use their hoover or make use of their carwash. 1.1.3 Shell is a PLC so the liability for debts is on the company. To be considered a PLC you’re business is probably formed and owned by shareholders. Other shareholders can buy their stock quite easily. They have a lot of shareholders. As a shareholder of Shell you aren’t responsible for the debts, may the company go bankrupt. Unicef Unicef which stands for United Nations International Children’s Emergency is a massive organisation that tries to help children all over the world, not only to have an education but to protect child’s right in overall. 1.2.11.2.2 Unicef has offices all over the world, it’s a global organisation. Almost every country has an office from Unicef. The Government helps for two third of the organisation’s funds and the other part is from the millions of people that supports Unicef which makes it for the bigger part a public organisation. It’s a non-profit organisation, because they don’t want to make a lot of money for themselves but to raise money to help the children  who for example can’t go to school because they don’t have the money for it or even because they don’t have schools at that place. Unicef is subjected in the tertiary sector because they serve services to help the children. 1.2.3 It’s a Charity Partnership, as a charity you have to register and must produce annual accounts that are available to be viewed. P2 Stakeholders of Shell 2.12.2 A stakeholder is anyone that has an interest or is affected by a corporation. 1.Customers: The customers are the one who buy or uses the products and services of Shell. They want shell to have the best oil, gas and services so that what they pay for those things are worth their money. -Shell wants the customer to keep coming back to them, because without the customers Shell wouldn’t earn any money. 2.Employees: The employees are the one who works for Shell. They want to have the security of being employed, getting paid and also the opportunity for promotions. Shell wants the Employees to do their best because they are kind of representing Shell. For example, if they are rude to customers then the customers may not come back to Shell because of that. 3.The shareholders: The shareholders are the one who owns a part of Shell. The shareholders want to see their share of profit to increase. Shell wants them to increase the money. 4.Trade Unions: Trade Unions represent the interest of groups of employees. With the trade unions employees want to accomplish their interest like get higher wages. Shell wants to find out the interest of groups of the employees so they can improve it and keep their employees happy. 5.Local And National Communities: Local and National Communities are the ones who represent Shell. Shell has pipelines in Nigeria which can be very dangerous and cause local pollution, therefore community leaders represent important interest groups. Shell wants them to represent Shell positively. 6.Suppliers: Suppliers are people who provides Shell’s products. (For example the things they sell at they’re petrol stations, not the oil/gas as they produce that themselves.) They want to feel valued by Shell and they want steady orders and to be paid at their worth. Shell wants the suppliers to deliver the right orders and that the products are in best condition. 2.32.4 Stakeholders of Unicef 1.Staff members: Staff members ensures that everything is going smoothly, both in offices and on field. They want to see the results while being in field, for example, to see the kids go to the school they have built. Unicef wants the staff members to do their best and see the best results. 2.Goodwill Ambassadors and Advocates: Goodwill Ambassadors and Advocates are celebrities that funds Unicef. They want to use their fame positively and help as many kids as they can with their money. Unicef gets more known because of those celebrities. With their help people acknowledge their campaign. Plus, they are good volunteers with enough money. 3.Young Leaders: Young Leaders are young adults or teens that are helping out with the campaign as well. Young leaders wants to help out children or teens that are maybe just a few years older than them, sometimes because they feel bad for those children. They have it better so they want to help out. Having young leaders in the team is a positive outcome because this motivates others from the same age to do something to help children out, too. 4.Teachers: Volunteers that want to teach children in for example Africa. -Teachers wants to volunteer so they feel good about themselves helping the children to get better education or just an education at all. They want to be send off in a secure place, though. And not in, for example, a war zone. Unicef needs Teachers because otherwise building schools are no help at all if there’s no one to teach those children something. 5.Suppliers: Those are the ones who supplies the school books etc. They want to feel valued by Unicef and wants clear orders from them. Unicef wants the suppliers to deliver the orders to be in good quality and to be delivered on time. 6.People who gives their contribution to the collectors:  They give money to the collectors to help out. For example, they want to think they helped out building that school in Africa. Unicef need those people to help out to get more money so they can help out more. P3 Organisational Chart of Shell 5.1 Shell is organized by function, geographical areas, product groups and type of customers. Shell’s functions are divided in three groupings: Upstream, Downstream and Projects Technology. Upstream manages the manufacturing and search crude oil and natural gas. Downstream also manages the manufacturing and are responsible for the marketing department. Projects Technology does the research and projects for new products. Shell is, as mentioned before, a global company, having offices all over the world. The Upstream only is already divided in Upstream Americas (for Americas), Upstream International (for Europe, Asia/Middle East/Russia, Oceania and Africa. This is because it can function better and they can focus within that country/continent. They can focus on the culture and interest within that country/continent. They are also organized by products as you can see above. They are divided by gas, fuels and lubricants and chemical products. This way each group can specialize in their own product and make it better. Shell has a lot of customers, like the one who drives daily to and from their work or a big airplane company or the F1 team. They use different products or amount of products, so Shell organized it this way that the airplane company gets a different price than a normal man who drives daily to and from their work. 5.2 My Royal Dutch Shell would look at the amount of profit they made the year before. How much oil and gas they posses and there is on earth. We’ll look at how much we sell our products and how much our variable costs are and if we can make our variable costs less and our prices higher. Would we lose customers if we do that or not? We will do an internal researches for how much oil there still is on earth. With this information we can go further with our strategic plan. If the oil is decreasing for example, we will look  for alternative solution. Shell will look for what’s going on in each country. For example, everyone is really busy with being environmentally conscious, so we’ll think of a way other than greenpeace to show that we are not too bad for the environment. We will look at how the economy is growing or deflating. If it’s growing we can make the price higher, and if it’s deflating we don’t necessarily need to put the prices lower as Shell’s product is something that everyone constantly need. (Oil) Looking at what the concurrent position, at how they are doing is also something to consider. Organisational Chart of Unicef 5.3 Unicef is divided by directors. They have the executive Director who is in charge of the whole organisation. And other directors that are in charge of for example the Human Resources or the supplies. So Unicef is organized by function. Unicef has different regional directors. For example, there’s the Dutch Unicef Director, or the UK Unicef Director. . Working a lot on field (different countries) it’s easier to have regional offices. This makes Unicef function better as Unicef represent itself in 190 countries, each country with different values. So each country director/manager can focus on how to reach the people Unicef is also organized by geographical areas. Unicef focuses on different type of ‘products’ which are actually the different services. Although all is about children, the subjects are different. They have child survival and development, Basic education and gender equality, Children and HIV/AIDS and Child protection. They divided those subjects so they can specialise more and give the help that the child needs better. They also sell small things, kind of reminds me of souvenirs, the profit they make from these goes to the campaign funds. 5.4 Unicef will look at how they’ve succeeded at their projects so far, how many donations they get each year, how many members/volunteer they’ve got and what their next step needs to be depends on what is going on with the people around the countries they help or even which country they’ll need to help next. Once they have all those information, they’ll look at how they can  get more projects. To get more projects done, they’ll do more research so that they can give people more and more information and can attract more people to help them out. Unicef should show on the media what they’ve achieve so far and that the money people donate are really helping out. This way we’ll get more donation, so more profit to finish projects. P4 Fulfilling The Purpose of Shell 6.1 Shell’s purpose is to make as much profit as they can. Being organized by function they can put people who are specialised by those functions and make their product even better. The geographical structure helps to get to know what they need to do to get the attention of each country. Because each country has different laws, values and culture they can do their research way better if each group specialised in one specific country. Shell can make their advertisement focused on each country. Focusing on the different customers they can make special offers for different customers. Making these offers they can make sure that the customer will come back to them and can cause word to word advertisement. Splitting up different products types helps customers to know where to find what when they come to buy products from shell. Having different products means they need to make sure everything is from the same quality, the best quality. So by dividing their products and putting people who specialised on those product they know they have the best quality. Which will make customer come back to them. To be structured good, Shell uses the chain of command. It helps shell to make sure that they get the tasks that you need to do and that it doesn’t go to a different department. Fulfilling The Purpose of Unicef 6.2 Unicef’s purpose is to help as much children in need as they can. Being geographical organized helps them to fulfil their purpose because this way they can focus on what each country needs. For example, one country needs more school instead of help with HIV/AIDS. Focusing on different product type helps as well. This way, people knows exactly for what they are donating. Same as Shell, Unicef uses the chain of command so that people get the right tasks. Using Goodwill Ambassador helps them achieve their purposes, too. For example, having Selena Gomez as an ambassador is great help for them in the media. She’s really big in the entertainment industries and is a role model for a lot of teens and young adults all over the world. She indirectly advertises Unicef when she tweets or talks about how she’s an ambassador. Having different directors for each function helps as well as they can specialise on what they are doing in that sector. They can give the people ‘underneath’ them better instructions.

Supremacy of the US Dollar

Supremacy of the US Dollar ABSTRACT This assignment briefly discusses the supremacy of US Dollar. It includes suggestions and recommendations to its near future position, internationally. The proponents of the assignment are divided into the history of the US Dollar and its role as the dominating currency in the world. Ever since other currencies began to take part actively in the foreign exchange markets, they began to challenge the role of US Dollar. Arguments were put forward that the US Dollar would have to compete with the various emerging currencies to maintain its position as the most influential money dominator. The paper intends to discuss the currency contenders, which are the Euro, Japanese Yen Chinese Renminbi and the Russian Rouble and why are they the nearest competitors to challenge the US Dollar. Chapter 1 HISTORY The United States emerged from World War II not only as military victor but as an economic victor as well. It was by far the strongest economic power in the world. Under the Dollar standard, the Dollar standard, agreed to make the Dollar â€Å" as good as gold† redeemable on demand by any central bank at the rate of $35 an ounce in 1933. This meant that the dollar became the accepted medium of exchange for international transactions. This seemingly routine event was to have far reaching implications for the international financial system, certainly beyond what anyone would have imagined. According to James Grant the US dollar is the greatest monetary achievement in the history of the world. In year 1792 the first US dollar issued by the United States Mint which same in size and composition to the Spanish dollar. The US dollar was created and defined by the Coinage Act of 1972. The Coinage Act 1792 set the value of at 10 dollars, and the dollar at 1/10th eagle. It also called for 90% silver alloy coins in denominations of 1,  ½,  ¼, and 1/10. The timeline of US dollar currency will be discussed which as follows: I. Colonial Bills 1690 The Massachusetts Bay Colony, one of the Thirteen Original Colonies, issued the first paper money to cover costs of military expeditions. The practice of issuing paper bills spread to the other Colonies. II. Franklins Unique Counterfeit Deterrent 1739 Benjamin Franklins printing firm in Philadelphia printed colonial bills with nature printsunique raised impressions of patterns cast from actual leaves. This process added an innovative and effective counterfeit deterrent to bills, not completely understood until centuries later. III. British Ban 1764 Following years of restrictions on colonial paper currency, Britain finally ordered a complete ban on the issuance of paper money by the Colonies. IV. Continental Currency 1775 The Continental Congress issued paper currency to finance the Revolutionary War. Continental currency was denominated in Spanish milled dollars. Without solid backing and easily counterfeited, the bills quickly lost their value, giving rise to the phrase not worth a Continental. V. The Bank of North America 1781 Congress chartered the Bank of North America in Philadelphia as the first national bank, creating it to support the financial operations of the fledgling government. VI. The Dollar 1785 Congress adopted the dollar as the money unit of the United States. VII. First Central Bank 1791 Congress chartered the Bank of the United States for a 20-year period to serve as the U.S. Treasurys fiscal agent. The bank was the first to perform central bank functions for the government and operated until 1811, when Congress declined to renew the banks charter. Recognizing that a central banking system was still necessary to meet the nations financial needs, Congress chartered a second Bank of the United States in 1816 for another 20-year period. VIII. Monetary System 1792 The Coinage Act of 1792 created the U.S. Mint and established a federal monetary system, set denominations for coins, and specified the value of each coin in gold, silver, or copper. IX. Greenbacks 1861 The first general circulation of paper money by the federal government occurred in 1861.Pressed to finance the Civil War, Congress authorized the U.S. Treasury to issue non-interest-bearing Demand Bills. These bills acquired the nickname greenback because of their color. Today all U.S currency issued since 1861 remains valid and redeemable at full face value. X. First $10 Bills 1861 The first $10 bills were Demand Bills, issued in 1861 by the Treasury Department. A portrait of President Abraham Lincoln appeared on the face of the bills. XI. The Design 1862 By 1862, the design of U.S. currency incorporated fine-line engraving, intricate geometric lathe work patterns, a Treasury seal, and engraved signatures to aid in counterfeit deterrence. Since that time, the U.S. Treasury has continued to add features to thwart counterfeiting. XII. National Banking System 1863 Congress established a national banking system and authorized the U.S. Treasury to oversee the issuance of National Banknotes. This system established Federal guidelines for chartering and regulating national banks and authorized those banks to issue national currency secured by the purchase of United States bonds. XIII. Secret Service 1865 The United States Secret Service was established as a bureau of the Treasury for the purpose of controlling the counterfeiters whose activities were destroying the publics confidence in the nations currency. XIV. Bureau of Engraving and Printing 1877 The Department of the Treasurys Bureau of Engraving and Printing began printing all United States currency. XV. Paper Currency with Background Color 1905 The last United States paper money printed with background color was the $20 Gold Certificate, Series 1905, which had a golden tint and a red seal and serial number. XVI. Federal Reserve Act 1913 The Federal Reserve Act of 1913 created the Federal Reserve as the nations central bank and provided for a national banking system that was more responsive to the fluctuating financial needs of the country. The Federal Reserve Board issued new currency called Federal Reserve Notes. XVII. The first $10 Federal Reserve Notes 1914 The first $10 Federal Reserve notes were issued. These bills were larger than todays bills and featured a portrait of President Andrew Jackson on the face. XVIII. Standardized Design 1929 The first sweeping change to affect the appearance of all paper money occurred in 1929. In an effort to lower manufacturing costs, all currency was reduced in size by about 30 percent. In addition, standardized designs were instituted for each denomination across all classes of currency, decreasing the number of different designs in circulation. This standardization made it easier for the public to distinguish between genuine and counterfeit bills. XIX. In God We Trust 1957 The use of the National Motto In God We Trust on all currency has been required by law since 1955. It first appeared on paper money with the issuance of the $1 Silver Certificates, Series 1957, and began appearing on Federal Reserve Notes with the 1963 Series. Chapter 2 Characteristic of US Dollar Currency Introduction The U.S. dollar is the currency most used in international transactions. It is also used as the standard unit of currency in international markets for commodities such as gold and petroleum. There are also some Non-U.S. companies dealing in globalized markets, such as Airbus, list their prices in dollars cause of the international acceptance and the value of the dollar. At the present time, the U.S dollar remains the worlds foremost reserve currency. In addition to holdings by central banks and other institutions there are many private holdings which are believed to be mostly in $100 denominations. The majority of U.S. notes are actually held outside the United States. All holdings of US dollar bank deposits held by non-residents of the US are known as Eurodollars (not to be confused with the euro) regardless of the location of the bank holding the deposit (which may be inside or outside the US). Economist opinion said that demand for dollars allows the United States to maintain pers istent trade deficits without causing the value of the currency to depreciate and the flow of trade to readjust. Strong arguments do exist for why the dollar remains strong and still remain for world currency. There are (at least) three sources of demand for dollars that exert an exogenous force on normal balance of trade dynamics: * A demand for dollar liquidity for transaction needs; * A foreign desire for asset security found in the dollars role as a reserve currency; and * Developing country attempts to accelerate economic growth through an export dominated economy. To date all three factors have increased the incentive for foreigners to collect dollars (by selling goods and services in exchange for dollars) and decreased the incentive to dishoard dollars (by buying goods and services with the dollars). If these dynamics were to reverse, they would exert pressure to devalue the dollar above and beyond pressures exerted by the balance of trade dynamics. Before discuss further about the characteristics of US Dollar that makes it the worlds foremost reserve currency, a better understanding regarding the basic function of money is crucial. The main basic functions of money are: a) Medium of exchange When money is used to intermediate the exchange of goods and services, it is performing a function as a medium of exchange. It thereby avoids the inefficiencies of a barter system, such as the double coincidence of wants problem. b) Unit of account A unit of account is a standard numerical unit of measurement of the market value of goods, services, and other transactions. Also known as a measure or standard of relative worth and deferred payment, a unit of account is a necessary prerequisite for the formulation of commercial agreements that involve debt. c) Store of value To act as a store of value, money must be able to be reliably saved, stored, and retrieved. The value of the money must also remain stable over time. In that sense, inflation by reducing the value of money diminishes the ability of the money to function as a store of value. d) Standard of deferred payment Standard of deferred payment is distinguished as an accepted way to settle a debt a unit in which debts are denominated, and the status of money as legal tender, in those jurisdictions which have this concept, states that it may function for the discharge of debts. When debts are denominated in money, the real value of debts may change due to inflation and deflation, and for sovereign and international debts via debasement and devaluation. Based on the explanation above, there are some main characteristic of the currency shall have to be the main player. In this paper, we will discuss from the various aspects. a) Currency and asset substitution Currency and asset substitution are typically induced by past inflations, devaluations, currency confiscations and the growth of underground economies. The effective money supply is much larger than the domestic money supply and is, moreover, less easily controlled by the monetary authority because of the publics propensity to substitute foreign for domestic currency. To peg the exchange rate to the US dollar, authorities have to intervene and purchase foreign exchange, hence the accumulation of holdings of US foreign exchange reserves, US currency has many desirable properties. It has a reputation as a stable currency, and is therefore a reliable store of value. It is available in many countries, is widely accepted as a medium of exchange, and protects foreign users against the threat of domestic bank failures, devaluation and inflation. Cash usage preserves anonymity because it leaves no paper trail of the transaction for which it serves as the means of payment and is therefore the preferred medium of exchange in underground transactions. Indeed the very characteristics that make the US dollar a popular medium of exchange also makes it difficult to determine the exact amount and location of US notes circulating abroad. Nevertheless, there is a direct source of information that can be used to determine the approximate amounts of US cash in circulation in different countries. Currency substitution also has fiscal consequences that are particularly salient for transition countries. Foreign cash transactions reduce the costs of tax evasion and facilitate participation in the unreported or â€Å"underground† economy. This weakens the governments ability to command real resources from the private sector and deepens fiscal deficits. The shifting of economic activity toward the underground economy distorts macroeconomic information systems (Feige, 1990, 1997), thereby adding to the difficulty of formulating macroeconomic policy. b) International Reserve Currency Furthermore, another characteristic of US dollar as world currency is because of the international reserve currency. Over the past three decades, academic and financial analysis that argued the US would suffer dollar devaluation due to national consumption exceeding national production has been largely wrong. That such an intuitive argument has been so consistently wrong is the source of much frustration and consternation. What has become clear is that when discussing exchange rates and determinants of exchange rates, there is a necessary delineation between the dollar and the rest of the world currencies. Because the dollar is the world reserve currency, special dynamics exist for it in addition to the normal trade and monetary dynamics one would expect. The euro inherited this status from the German mark, and since its introduction, has increased its standing considerably, mostly at the expense of the dollar. Despite the dollars recent losses to the Euro, it is still by far the major international reserve currency; with an accumulation more than double that of the euro. In August 2007, two scholars affiliated with the government of the Peoples Republic of China threatened to sell its substantial reserves in American dollars in response to American legislative discussion of trade sanctions designed to revalue the Chinese yuan. The Chinese government denied that selling dollar-denominated assets would be an official policy in the foreseeable future. c) Usage of the US Dollar Other characteristic of US Dollar as a main currency is when there are a few nations besides the United States use the US Dollar as their official currency. For example, Ecuador, El Salvador and East Timor all adopted the currency independently; former members of the US-administered Trust Territory of the Pacific Islands (namely Palau, the Federated States of Micronesia and the Marshall Islands) decided that, despite their independence, they wanted to keep the U.S. dollar as their official currency. Additionally, local currencies of several states such as Bermuda, the Bahamas, Panama and a few other states can be freely exchanged at a 1:1 ratio for the U.S. dollar. d) Secure the Safety Trade As the so-called â€Å"safety trade† turn into dollars that occurred in the second half of 2008, made ironic event in two ways. The dollar represents security to foreign entities is partly due to historical good behaviour and partly due to wishful thinking on the part of foreign entities. Certainly through 1960, the US had a virtually unblemished record in paying its debts and honouring its obligations. This historical precedent combined with geopolitical considerations and force of habit has created the foreign perception that exists to this day that the US dollar is â€Å"as good as gold.† Thus, historically when a country suffered from a balance of payment crisis, the most common alternative to the home currency was the dollar. The list of countries whose private citizens hoard dollars as an alternative to the home currency is long. The reason for this hoarding is fairly easy to understand. If a country pegs its currency to the dollar and the peg is kept too high, citizens of the country will consume more than they produce and the country will run a current account deficit. Mirroring this current account deficit, a country will run a financial account surplus which decreases its supply of dollars. As the supply of dollars approaches a critical point, citizens will speculate that the peg cannot be maintained and will â€Å"make a run† on the currency, trading all of their domestic currency for dollars in anticipation of the devaluation. This is referred to as a balance of payments crisis, and results in a devaluation of the national currency. Examples of recent balance of payment crises include the Argentine economic crisis (2001-2002) and the Asian financial crisis (1997). Citizens in countries who have suffered balance of payment crises will often hold a portion or even a majority of their wealth in dollars in anticipation of currency devaluation. As an additional demand, it is commonly considered good practice for a developing country to carry reserves in excess of what is necessary for transactions as a preventative measure against balance of payments crises. Thus, there is actually an incentive to peg a currency too low, as a method for accumulating a protective supply of dollars to prevent balance of payment crises. e) Exchange Rate Dynamics While all other countries have two primary mechanisms that determine their exchange rate, the US dollar has five. The two mechanisms present for all currencies are: the relative supply of the currency (determined by the central bank); and the terms and attractiveness to foreigners of domestically produced goods and services. All else equal, the greater the supply of currency the higher the exchange rate (depreciated), and the more attractive the terms of domestically produced goods the lower the exchange rate (appreciated). Both of these mechanisms are reflected in the current account: if a country devalues its currency through an increase in money supply, it will have higher interest payments on foreign denominated assets. In this circumstance, a net debtor will generally see a deterioration in the current account, and a net creditor will see an improvement. If a country increases the attractiveness of terms on its production to foreigners, it will improve the current account. f) US Role As Most Develop Country In The World Financial and currency news are not just the only stories of news but interests to all. As for example, Foreign exchange (Forex) traders also have a lot of interest in political news that may have an impact on different countries currencies. Political events, such as the U.S. presidential election cycle has substantial consequences on the valuation of currency. The essence of money is purchasing power and power is at the heart of politics. Power goes to those who create money, those who receive it, those who spend it, and most of all, those who control it. Money, in other words, is anything but neutral. Money can be controlled or governed in very different ways; these systems of governance are described as monetary regimes. Chapter 3 BENCHMARKING THE US DOLLAR In order to understand the current international monetary system and its problems, one must realize that, for practical purposes, all international financial transactions are inextricably linked to the US Dollar. As the dollar goes, so goes the international financial system. Recently, as been mentioned earlier, the US Dollar remains the worlds foremost reserve currency. The US Dollar has been referred as the standard unit of currency in international markets for commodities such as gold and oil. Some non-U.S. companies dealing in globalized markets, such as Airbus, list their prices in US dollars. US Dollar has a value based on supply and demand of the market. As demand of US Dollar increase and more people willing to pay more to buy the US Dollar, then US Dollar will increase the value. We can also know the performance/value of US Dollar by using the benchmark in US Dollar. Benchmarking of the US Dollar means that we measure or evaluate the performance/value of US Dollar with another similar item in an impartial scientific manner. The US Dollar Index (US Dollar X) is type of index used as a benchmark in US Dollar. US Dollar Index is an index (or measure) of the value of the United States Dollar relative to a basket of foreign currencies. It is a weighted geometric mean of the dollars value compared only with Euro (EUR), 57.6% weight Japanese yen (JPY), 13.6% weight Pound sterling (GBP), 11.9% weight Canadian dollar (CAD), 9.1% weight Swedish krona (SEK), 4.2% weight and Swiss franc (CHF), 3.6% weight. (Source: Wikipedia) Like declining real estate or stock prices, the diminishing dollar is neither uniformly beneficial nor harmful. In an article written by Karen (2008), the author provided an example of Accor North America, Inc., a division of Paris-based Accor, a global hotel operator. She added that when the company needs extra funds, perhaps to make an acquisition, the declining dollar comes in handy. Taking advantage of the dollar devaluation means that its cheaper to borrow from our parent than a bank, says Stephen Manthey, senior vice president and treasurer with the Carrollton, Texas-based firm. This is because the parent companys Euros now are more valuable than they were a year or two ago (Karen, 2008). Animesh Ghoshal, a Professor of Economics at DePaul University, Chicago, once mentioned that exporters typically do well when their currency drops, as their products become more competitive outside their home markets. Conversely, importers take a hit, as the costs of their goods or materials rise. Karen (2008) also quoted a statement from Dean Baker, a co-director of the Center for Economic and Policy Reseach, an independent research group in Washington, D.C. Dean mentioned that people think of a strong dollar like a strong body, but, theres no particular virtue in having a strong dollar. In November 2007, prices for imports from the European Union rose for the seventh consecutive month, increasing 0.2 percent, while prices for goods coming from Canada jumped 4.7 percent. For the year ending in November, the prices of imports from Canada were up 12.9 percent, while imports from the EU were up 3.3 percent. The rises can be attributed to higher fuel prices and the declining dollar, rep orts the Bureau of Labor Statistics. From 4 below, we can see that the US Dollars relative strength compared to Euro had been declining over the 2007. The declining US Dollar may bring more harm than benefits to the US importers. Chapter 4 Factors Affecting US Dollar Currency a) Trade Deficit A trade deficit occurs when a country imports more than the exports. This leads to a net outflow of a countrys currency. Countries on the other side of the transaction will typically sell the importing countrys currency on the open market. As supply of the countrys currency increases in the global market the currency depreciates. As a net importer, the US has seen its trade deficit grow rapidly over the last decade. In last year (2008), the United States had a record of trade deficit of $816 billion dollars. This trade deficit weakens the US dollar relative to other currencies since foreign goods are denominated in foreign currency. Thus raising of demand for foreign goods increases the demand for foreign currency and decreases the demand for US dollars. This causes the US dollar to depreciate. b) Budget Deficit Chart below show that US Public debt has grown substantially over time. When a countrys government spends more than it earns from taxes or other sources of revenues, it is forced to borrow from its citizens and/or from foreign entities. As a countrys debt load increases, the value of its currency may decrease as result of fears within the international community over its ability to repay the debt. In addition, by borrowing money from foreign countries, the US increases the demand for foreign currency in exchange for US Bonds. The US is the worlds largest debtor with approximately $12 trillion dollars in debt in total debt. Over half of this debt is owned by foreign countries and lenders. (Source: Wikipedia) c) China, Japan, and India may stop holding large US Dollar Reserves Japan ($349B) and China ($643B) are two of the largest purchasers of US debt. China in particular has exhibited a voracious appetite for US debt. Its rapidly growing economy is heavily dependent on exports, and the US is one of its largest trading partners. In any given year, the US imports much more from China than it exports to China. As a result there is a net flow of dollars to China. Normally, one might expect China to sell these dollars on the global market, causing the dollar to weaken. Instead China reinvests its dollars in US debt. In doing so, China strengthens the US dollar and limits the appreciation of its own currency. Chinese exports remain cheap to American consumers. However, due to large deficits many countries, China and India in particular, have begun to reconsider diversifying their reserves to protect themselves from a devaluation of the US Dollar. In November 2009, the Indian Central Bank announced that it would purchase $6.7B worth of Gold to diversify its reserves. China, which is the single largest purchaser of US Securities, has similarly increased its reserves of gold by 76% since 2003 and has hinted at further purchases. The decision of these large countries to shift increasingly towards Gold as a reserve currency greatly decreases the demand for US Dollars and weakens the US Dollar. d) Monetary Policy Inflation Demand for a countrys currency is highly dependent on the relative value of holding it, ie. the real, relative return of U.S. government bonds. Fear over higher inflation erodes the real value of bonds, which in turn decreases demand for US dollars. Similarly, tighter monetary policy raises the real interest rate on U.S. Gov. bonds, at which demand for US dollars increases until the relative, risk adjusted return on those bonds is equivalent to the return on bonds for another country. e) The Federal Reserve Rate The Federal Open Market Committee, comprising of the Chairman, Vice Chairman, and three other members, along with the chiefs of the regional branches of the Federal Reserve System, come together regularly to determine the Federal Funds Rate, which is the rate at which financial institutions with deposits at the Federal Reserve lend to each other. The release of the decision is usually accompanied by much media fanfare, analysis and commentary, and with good reason. Lending at the federal funds rate is the normal channel for banks with financing needs, and it represents the wholesale market for large financial institutions. The Federal Reserve Rate also determines the Dollar Libor rate which is the basis of many different types of financial transactions from complex derivative contracts, to credit card and mortgage interest rates. Libor is the cost of short-term unsecured interbank lending (where theres no collateral exchanged between counterparties). As such, it is one of the building blocks of the modern financial system. Although most transaction in the unsecured market are limited to a single month at most, the benchmarks themselves are regularly quoted and taken as a basis for contracts and agreements. f) Equity Market The equity market can impact the currency market in many different ways. For example, if a strong stock market rally happens in the U.S., with the Dow Jone and the Nasdaq registering impressive gains, we are likely to see a large influx of foreign money into the U.S., as international investors rush in to join the party. This influx of money would be very positive for the US DOLLAR, because in order to participate in the equity market rally, foreign investors would have to sell their own domestic currency and purchase U.S. dollars. The opposite also holds true: if the stock market in the U.S. is doing poorly, foreign investors will most likely rush to sell their U.S. Equity holdings and then reconvert the U.S. dollars into their domestic currency which would have a substantially negative impact on the greenback. Chapter 5 The impact of US Dollar a) Dollar Hegemony (Domination of the Dollar) The Bretton Woods negotiations at the end of the Second World War paved the way for establishing the dominance of the dollar as international money. This role was sustained by the confidence that the United States with its vast reserves of gold would honor the commitment to provide gold to foreign central banks in exchange for dollars at a fixed rate of $35 per ounce. By the end of the sixties, the growing trade deficit and the burdens of its military interventions in Vietnam created a huge dollar overhang abroad. In the face of increased demands for gold in exchange for dollars the United States unilaterally abandoned gold convertibility. This, however, did not lead to the dismantling of dollar hegemony. Instead, the refashioning of the international monetary system into a â€Å"floating dollar standard† in the post-Bretton Woods period was associated with the aggressive pursuit of liberalized financial markets in order to encourage private international capital flows denomin ated in dollars. In the 1970s the Eurodollar markets served as the principal means of recycling oil surpluses from the oil exporters to developing economies, particularly in Latin America. This process became a tool of resurgent U.S. political dominance. The 1970s military dictatorships in Chile, Indonesia, and Argentina, and the â€Å"Chicago School† free market regimes that followed, were bolstered by repression and supported by the readily available loans from U.S. banks flush with oil funds. Once this cheap bonanza of credit came to an end with the debt crisis in 1982, a new wave of neoliberal reforms and financial liberalization was imposed through the IMF-World Bank rescue packages. The crisis was deployed to further entrench the dominance of the dollar and U.S. imperialist agenda. In country after country the IMF and World Bank imposed â€Å"structural adjustment† policies during the crisis phase that destroyed all attempts at independent economic development while engulfing thei r financial systems in the ambit of dollar hegemony. This set in motion another surge of dollar denominated private capital flows to emerging markets and a fresh round of crisis in the 1990s when capital flowed back to the United States From 1973, up until about 2003 (the run-up to the present crisis) the periods when flows to emerging markets surged were also periods with a net efflux from the United States. As the surge comes to an end in the wake of capital flight and crisis, as in the Latin American debt crisis in 1982-83 and the Asian crisis in 1997-98, private capital flows are sucked back into the United States (see chart 2). The privileged role of the dollar provided the United States with an international line of credit that helped fuel a consumption binge. Cheap imports allowed consumption to be sustained despite stagnant or declining real wages. The export-led economies of Asia (first Japan, later East Asia and China) in turn depended on mass consumption in the United States to drive their economies. But the dependence on cheap imports precipitated growing trade de

Faulkner’s Family Life in William Faulkner: a Life on Paper

Faulkner’s Family Life in William Faulkner: a Life on Paper The presence of the father – The Father? – haunts William Faulkner, a Life on Paper; daughters play a supporting role. Mothers, curiously enough, are noticeable in their absence. On both the spoken and unspoken levels, the film suggests that the power of genesis derives from the male alone. The creative power passes from father to son to grandson, or from father to daughter, and it is from this lineage that the artist is endowed to â€Å"create a cosmos of his own,† as Faulkner said of his novel, The Sound and the Fury. First, there is the matter of the movie’s tone. Early camera shots of the Mississippi countryside, its forests and swamps, are accompanied by a melancholy melody played by oboe, piano and French horn; composed in a minor key, this music offers an aural equivalent to the text of the narration, a passage of Faulkner’s, in which the author describes the region’s autumn as â€Å"gallant, evanescent and forlorn.† This is an evocative description, unique in its assigning to the natural world a quality associated with the male, gallantry. To be gallant is to be noble and brave in service to an ideal; the word specifically indicates chivalry toward women, and in this context it conjures most certainly the dual spectres of the southern gentleman and the Lost Cause. Thus, in Faulkner’s imagination, the age-old mythos of nature as Mother is recast in the light of the male/Father; his South, his Mississippi, his fictional county, is a land not of sunlight and f ecundity, but of dark, primordial forests, swamplands, things forgotten and fading away. Again and again in William Faulkner, a Life on Paper, images of the countryside are repeated with this same â€Å"forlorn† chamber ... ...s been reborn in daughter; the role of Mother, Estelle, is seemingly bypassed. We see or hear little of Estelle after her marriage to Faulkner; what interests the filmmakers is her alluring persona as a vivacious southern belle who drew boys to her like â€Å"bees to honey,† one interviewee remarks. Post-marriage, she returns to the film’s hazy background. â€Å"Mrs. William Faulkner† exists onscreen primarily as an open hand demanding money for food and bills; their daughter, Jill, functions in the film as a repository of less-than-pleasant memories, recited in thin-lipped reminiscence. â€Å"If I had gotten in his way Pappy would have walked on me,† she notes, a point that is painfully underscored later in the film when she recalls his words to her: â€Å"No one remembers Shakespeare’s child.† If there was much tenderness between father and daughter, we see little of it in this film.

The Second Republic and Its Fall Essays -- Nigeria Federal Government

The Second Republic and Its Fall One of many hurdles that Nigeria had to overcome in the attempt to return to civilian rule, and then to have such a new system entrenched, was the fact that competitive politics encouraged recourse to sectional identification. On the one hand, there is need for a understanding of the nature of the dynamics of Nigerian society, especially with regard to the phenomenon of ethnicity. On the other hand, the theoretical formulations which already exist concerning the nature of politics in segmented societies must be confronted so that a closer approximation between such themes and the sociopolitical realities of Nigeria can be achieved (Joseph, 1987:43). The American-style constitution of the second Republic (1979-1983) was designed for Nigerians type of democracy where natural affairs rather than state are promoted to avoid the pattern of British parliamentary system where the winner-takes-all pattern. The parties in America conform to the Constitution due to their disciplinary disposition. In Nigeria, political parties were following the British style of politics, where â€Å"distribution of revenues among the politician and their clients at national, state and local levels†, are the order of the day (Shehu, et al; 1999:34). Bitter conflicts abounded within the political parties in both states and the federal level over the distribution of the spoils; hence, the inability of the politicals to manage the conflicts led to the demise of the democratic government in the Second Republic and the return of the military government. In the program of transition to the Second Republic, the military leaders’ primary concern was to prevent the recurrence of the mistakes of the First Republic. They believed that if the structures and processed of government and politics that had proved inappropriate in the First Republic could be changed, a stable and effective civilian government was therefore designed to address those fundamental issues, which were historically divisive, and to establish new political institutions, processes, and orientations. The second aspect of the transition involved the making of a new constitution and appropriate institutions. Decree number 25 of 1978 enacted the 1977 Constitution. It differed from the First Republic in 1963, in that, it introduced a United States type presidential system (Nwoked, 199:73). Previo... ...so was the decline in GDP by and estimated 10 percent. The repressive strategy of Buhari’s military further engendered deep resentment and bitterness among the people who feel that they had been denied of their personal freedom. In addition, according to Othman, â€Å"the military government was increasingly driven by dissension over strategies of economic management, the detention and trials of political detainees and the rising power of Brigadier Tunde Idiagbon, the Chief of staff, supreme headquarters, and the driving force behind the regime’s authoritarian policies, and of the Nigerian Security Organization (NSO)† (Othman, 1999:40). Two factors were instrumental to the final demise of the military regime; one was the risking of what Diamond called â€Å"political convulsion†, an attempt to impose a monolithic order on Nigeria’s vigorously polaristic society (Diamond, 1999:443). The second factor was the regime’s declaration in July, 1985, of their intention or plan to return Nigeria to C ivilian rule. These actions further isolated Buhari and Idiagbon from their military colleagues , including their arrogance in ignoring critical opinion even among its senior military ranks.

The Truth About Platonic Friendships :: Platonic Love and Friendship

The researcher's qualitative research consisted of speaking with platonic friends of the opposite sex in casual random settings. The qualitative research was completely random using friends by chance that had no idea of the experiment. In doing so the researcher realizes that it is unethical, but figured it was the only way to find the real answers to his problem. During the conversation the researcher at one point or another came to ask the same four questions to all of the subjects involved in the experiment. The four questions were as follows: 1) we are strictly platonic friends, right? 2) Why are you my friend? 3) Have you ever wanted to be more than friends? 4) Is it a possibility for us to be more than friends? The "so called" platonic friends names will all remain confidential in order to keep their business private. To this point there have been ten random friends that have partaken in the qualitative study. In most of the studies the answers stayed consistent. To question number one all ten subjects agreed that "Yes we are platonic friends." For question number two, all sorts of answers were recorded. Most stayed along the line of conventional reasons for being a friend. Some mentioned reasons such as cute, funny, easy to talk to and popular. Three of the ten did however mention that they in fact didn't want to be friends when we first met. They stated they were looking for ore from the beginning it just didn't happen. Question number three an astonishing seven out of ten platonic friends noted they at one point of another did want to be ore than friends. One individual went as far as to say that they quit being my friend due to the fact that she found out that I was involved with another girl. In question four again another seven out of ten friends agreed that something more could become of our friendship. Two mentioned that they had hoped that it would have already happened. Most that replied yes to question number four either looked puzzled of asked if I was still involved with my girlfriend.   Ã‚  Ã‚  Ã‚  Ã‚  In one example for the researcher was left stunned. For privacy sake we will call the subject by the fake name of molly. In the platonic informal interview with Molly the researchers exact problem was proven just the way predicted.