Managing Financial Resources and Decisions Essay

1. Equity capital (owners capital) for Blue Orange Solutions Equity is an external source of funds available to business and these are generated from the shareholders/investors. This is considered as the safest source of start-up funds. In case of a private limited company, the amounts are invested by the shareholders who are known to each other. But in case of a public limited company, the amounts can be invested by general public or institutional investors. – The funding is committed to business as the investors can only realise their investment if the business is doing well, e.g. through stock market flotation or a sale to new investors. – No financing costs involved as the business will not have to keep up with costs of servicing bank loans or debt finance, allowing to use the capital for business activities. – Outside investors can bring valuable skills, contacts and experience to your business. They can also assist with strategy and key decision making. â⠂¬â€œ Investors are often prepared to provide follow-up funding as the business grows. The principal disadvantages of equity finance are: – Raising equity finance is demanding, costly and time consuming, and may take management focus away from the core business activities. – Potential investors will seek comprehensive background information on the business. – Depending on the investor, original investors will lose a certain amount of power to make management decisions. – There can be legal and regulatory issues to comply with when raising finance, e.g. when promoting investments. 2. Bank loan for Blue Orange Solutions A debt financing obligation issued by a bank or similar financial institution to a company or individual that holds legal claim to the borrower’s assets above all other debt obligations. The loan is considered senior to all other claims against the borrower, which means that in the event of a bankruptcy the bank loan is the first to be repaid, before all other interested parties receive repayment. Bank loans are usually secured via a lien against the assets of the borrower. At the time the loan is made, there typically tend to be no other existing liens on the borrower’s assets, or at least not on any of the assets being secured by the bank loan. Advantages: – A bank loan can be used in a number of ways; money can be borrowed for many large-ticket items – A bank loan can be secured in a specific time frame Disadvantages: – Some loans carry a prepayment penalty, high penalty rates, other finance charges – There are a number of limitations on the transaction – Borrowing too much money can lead to decreased cash flow and payments can even overtake income in some cases. 3. Bank overdraft for Blue Orange Solutions An overdraft is a temporary facility added to business’s bank accounts which allows the account to be overdrawn by a certain amount. The business is charged interest based on the amount overdrawn and the length of time overdrawn, and are usually charged a regular fee for the use of the facility. An overdraft is particularly useful when business has regular sales and purchases and is to finance temporary cash shortages. They are a good backup to ensure business can pay its bills. An overdraft is not supposed to be a permanent source of finance. Advantages of Overdrafts Flexible – An overdraft is available when business needs it and costs very small amount of charges. It allows business to make essential payments in case of cash shortages. Quick – Overdrafts are easy and quick to arrange, providing a good cash flow backup with the minimum of fuss. Disadvantages of Overdrafts Cost – Overdrafts carry interest and fees; often at much higher rates than loans. The business face large charges if you go over the agreed overdraft limit. Recall – Unless specified in the terms and conditions, the bank can recall the entire overdraft at any time. Security – Overdrafts may need to be secured against business assets, which put them at risk if payments cannot be made. Business Angels for Blue Orange Solutions Business angels are wealthy individuals who invest in start-up and growth businesses in return for equity in the company, they are also called informal investors. The investment can involve both time and money, depending upon the investor. Business angels can operate independently, but many work as a syndicate (a group of individuals or organizations combined to promote some common interest). Business angels typically invest  £500,000 in a company. On average, business angels in the UK invest  £42,000, and each investor makes around six investments. Where larger amounts are invested in a business, this usually takes place through a syndicate of angels organised through the entrepreneur’s personal contacts or a business angel network. As well as cash, business angels can offer years of experience in the business world, not to mention useful contacts to help you grow your business, which can add real value to your company. Although some prefer to become a sleeping partner, others will get actively involved in business, offering help with anything from writing a marketing plan to taking the company through a flotation on the stock market. Indeed, the BBAA / NESTA report recommends that angels invest in their area of expertise and stay connected with the business, preferably at board level, as a way of improving the success rate of angel deals. Venture Capital for Blue Orange Solutions A venture capital firm is a group of investors who gain income from wealthy people who want to grow their wealth. They take this money and use it to invest in more risky businesses than a traditional bank is willing to take on. Because the investments are risky, the venture capital firm typically expects a higher return on the businesses it is investing in than other types of lenders would. The interest rate or higher cost of capital is worth it to the business, however, because the business would otherwise not receive the financing needed. Venture capital firms work under a specific investment profile. The investment profile is a document that outlines the types of businesses the firm is willing to invest in. By targeting their investments to certain types of businesses only, the venture capital firm can learn the ropes of a particular industry, and thus be better prepared to decide which new or expanding businesses are the best investments. And venture capital firms do not just provide start up financing. They can also provide expansion financing for promising businesses. When individual investors entrust their money to a venture capital firm, the firm puts the money in a fund. This fund is then invested in several companies, with the expectation that the companies will be able to repay the money in around three to seven years.

Producer Protection, Prior Market Structure and the Effects of Government Regulation

Producer Protection, Prior Market Structure and the Effects of Government Regulation Assignment on Regulatory Economics 1/5/2012 ? INTRODUCTION The direct economic regulation of business by independent government commissions has a one-hundred year history on the North American continent. It is generally asserted that the purpose of such commissions is to protect consumers from exploitation by limiting the economic powers of certain firms having pervasive effects on the public interest (for example, transportation companies and public utilities). However, the findings of the relatively few em-pirical studies of the economic effects of regulation indicate that important differences actually do exist in these effects. The disparities in these findings raise the question of why the actual economic effects of regulation differ among industries despite the supposedly common, avowed purpose of regulation. They also question whether a single hypothesis is adequate to explain the diverse effe cts of regulation. THREE HYPOTHESES REGARDING REGULATION 1. Consumer-Protection Hypothesis: This is the most popular of existing hypotheses. It implies that regulation will protect consumer interests by reducing prices until they equal marginal costs, by preventing discriminatory pricing, by improving service quality (at existing prices), by encouraging the entry of firms that are more efficient or that offer more preferred price/product combinations, and by reducing industry profits to the market rate of return. they often appear to promote the interests of regulated firms to the disadvantage of consumers. Despite the real purpose of regulation, the regulated industries have managed to pervert their regulators until the commissions become the protectors of the â€Å"regulated† rather than of consumers. 2. No-effect Hypothesis: This hypothesis implies that regulation has no effect on regulated industries (other than to impose certain costs in the performance of regulatory procedures). This situation could result if †¢an already powerful industry is able to control its regulators (the supplementary perversion hypothesis). †¢if the market structure prior to regulation were competitive and the actual effect of regulation is to obtain competitive performance †¢the prior market structure were monopolistic and the actual effect of regulation is to yield monopoly performance 3. Producer-Protection Hypothesis: It says that the actual effect of regulation is to increase or sustain the economic power of an industry. Such a situation could result if regulation converted a formerly competitive or oligopolistic industry into a cartel (that is, if regulation helped previously independent producers form an agreement to act together9), if it increased the effectiveness of an existing cartel, or if it maintained an existing monopoly (or cartel) where rival firms would otherwise enter to provide competition in response to the growth of markets or the development of new technology. Under this situation, one would expect to find regulation doing such things as increasing prices, promoting price discrimination, reducing or preventing the entry of rival firms, and increasing industry profits. The no-effect hypothesis does not appear to be generally descriptive of the effects of government regulation. The implications of the consumer-protection hypothesis also have a problem of reconciliation with available evidence and are quite inconsistent. The implications of the producer-protection hypothesis do turn out to be consistent with much of the available evidence regarding the effects of government regulation, once recognition is given to the effects of the prior (non-regulated) market structures of various industries. The obvious way to test the ability of the producer-protection hypothesis to explain the apparently diverse effects of regulation within the context of prior market structure is to classify regulated industries into two groups on the basis of their non-regulated market structures, and then investigate the impact of regulation on industries within each group. One group should include those industries whose prior market structure was a natural monopoly. This group would include electric utilities, natural gas pipelines, local gas distribution companies, telephone companies, etc. The second group should consist of industries having oligopolistic or competitive market structures prior to the implementation of regulation, for example, airlines, motor carriers, railroads, and water carriers. If the producer-protection hypothesis is descriptive of the fundamental effects of regulation, one would expect to find regulation having little or no effect on the first group, whereas the second group would experience substantial changes following the effective implementation of regulation. ? NATURAL MONOPOLY INDUSTRIES Among other things, effective monopolies are characterized by relatively high price levels, by extensive price discrimination, and by rates of return on investment exceeding those attainable if the firm operated in a competitive market structure. Thus, the producer-protection hypothesis implies that following the implementation of regulation over natural monopolies, the price level will be essentially unchanged and will be above marginal costs, price discrimination will continue to be widely practiced, and rates of return will remain above those which would exist under competition. Price level At least three studies have been made regarding the effects of regulation on electric utility price levels. Taken together, these three studies indicate that regulation has had a limited effect on lowering electric utility rates and that most of its benefits have been enjoyed by commercial and industrial consumers rather than the more numerous residential consumers. Also, it seems relevant that it took about 25 years for state regulation to be associated with any reduction in commercial and industrial rates, and around 45 years for it to be reflected in lower prices for residential consumers. Davidson presented the price relatives of average gas rates charged by the Consolidated Gas Electric Light and Power Company of Baltimore from 1910. During the 43 years covered by these data, rates decreased from 1910 to 1918, then increased until mid-1923, decreased and then generally remained constant to 1947, increased sharply in two steps in 1947 and 1949, and then fell again in 1950. The Company was more active than the Commission in granting rate decreases, while the two instituted the same number of increases. Furthermore, it can be seen that the industrial users enjoyed proportionally more rate decreases than their proportional share of rate increases. Evidence shows that Company originated changes resulted in net rate decreases for all nine user categories with the major beneficiaries being the medium and large domestic users, and the large industrial users. In comparison, the Commission ordered or negotiated rate changes resulted in net rate increases for small and medium domestic users, and small commercial users, while the major beneficiaries of Commission actions were the large commercial and the small and medium industrial users. Overall, the largest users enjoyed the greatest rate reductions during the 43-year period, while the smallest users either had small increases or decreases. This leads to the conclusion that factors other than regulation were important in these rate reductions. And the above evidence shows that the Commission's regulation did not always result in lower rates, and that the Company was more active than the Commission in instigating rate decreases. Price Discrimination The literature regarding public utility pricing is unanimous in agreeing that discrimination is widely practiced by electric utilities, natural gas pipe-lines, local gas distribution companies, and telephone companies. Stigler and Friedland found that in 1917 and 1937 both the regulated and the nonregulated electric utilities discriminated against domestic (residential) consumers in favor of industrial consumers, with no difference existing in the degree of price discrimination after allowance was made for the relative consumption of electricity by the two classes of consumers in the various states. Thus, they concluded that regulation had no detectable effect on price discrimination. Some studies indicate that in those years price discrimination might have been even greater under regulation. Since price discrimination is a matter of price structure, it is clear that, regulation has had little or no effect on any price discrimination. . The existing studies all indicate that regulation has not significantly decreased the power of natural monopolies to practice extensive price discrimination. Thus, the producer-protection hypothesis seems to be more applicable in describing this situation than the consumer-protection hypothesis with its implication of a reduction in or absence of price discrimination. It is not surprising to find discriminatory pricing consistently practiced by natural monopolies, be they regulated or non-regulated. So long as economies of scale result in decreasing long-run average costs, marginal costs will lie below average costs, and equating a single price for all customers to marginal cost will result in the eventual bankruptcy of the firm and the termination of service. Even given the usefulness of discriminatory, multi-part pricing in sustaining a natural monopoly without subsidy, it should still be possible for regulatory commissions to reduce the price discrimination practiced by regulated natural monopolies relative to that practiced by those that are not regulated. The available evidence indicates that this has not been achieved. Rates of Return There is some evidence that regulation has not significantly altered the rates of return of privately-owned electric utilities. Specifically, Stigler and Friedland found no effect of regulation on stock prices of electric utilities from 1907 to 1920. Continuing plant growth and continuing flows of investment funds should be proof-of-pudding tests that the Commission restrictions have not yet become excessive constraints. The success of utilities in general in selling bond and common stock issues, and the lack of bankruptcies in â€Å"recent years† are evidence that the rates of return of regulated utilities have been at least equal to the market rates of return. The regulated rates of return have been high enough to attract the capital necessary for rapid expansion by the electric, gas pipeline, and telephone utilities, but there is no indication of how much different the rates of return or the growth rates of these utilities would have been without regulation. OLIGOPOLISTIC INDUSTRIES The producer-protection hypothesis implies that regulated industries whose natural market structures were oligopolistic or competitive prior to regulation will experience substantial changes following the implementation of regulation. There should be significant increases in price levels, price discrimination should be greater, and rates of return improved. Perhaps crucially important, the producer-protection hypothesis implies that effective regulation will also restrict or delay entry into the industry in order to prevent new suppliers from capturing some of the regulatory benefits gained by existing producers. Price levels Airline passenger fares within California have been subject to regulation by the California Public Utilities Commission (PUC), but, in contrast to the complete regulation of both fare decreases and increases, through 1965 the regulation was limited to automatically approving all proposed fare decreases while imposing brief delays on the implementation of requested fare increases. The result of these differences in regulation was that coach fares within California were consistently lower than such fares in similar regulated markets. The available evidence regarding the effects of regulation on price level for formerly oligopolistic industries is consistent and unambiguous. Regulatory actions and procedures have allowed the carriers in each industry to reach agreements regarding prices and to enforce adherence to these agreements. The result has been substantial increases in price levels for the interstate airlines, the freight motor carriers, and the railroads. Without regulation prices would be from 9 to 50 per cent lower than they are with regulation, with many reductions in the long-run exceeding 30 per cent. Price Discrimination A consistent pattern also emerges regarding price discrimination by these three transport modes. Large differences have been found in the extent to which price discrimination has been practiced by the CAB-regulated interstate airlines (with their much higher price levels) compared with the relatively non-regulated California intrastate carriers. The time honored use of the value-of-service method of pricing in establishing rates, the adjustment of the resulting rates in response to intermodal competition, the relatively low marginal costs of movements combined with large fixed costs, the extensive joint production and common costs, and the application of commodity rates to 85 per cent of all rail freight traffic, have combined to make the use of discriminatory pricing the norm among the railroads. Over 100 years of development have resulted in a marvel of complicated discriminatory pricing. Given the pervasiveness of price discrimination in rail and motor transportation, the question arises whether regulation has significantly changed the degree and amount of discrimination. it does appear that personal discrimination has been reduced. Due to the usefulness of the regulation in sustaining rail-road rates, the need for personal discrimination was largely eliminated. Its demise is not therefore surprising. Since regulation provides such rate control, it appears to have made possible the pervasive and long-lived commodity price discrimination practiced by the railroads and to have supported their extensive use of locational discrimination. An even greater effect on price discrimination has resulted from the application of regulation to the motor carrier industry. Since monopoly power is a necessary condition for price discrimination, and since regulation appears to be necessary for monopoly to exist in the motor carrier industry, it follows that regulation has been the primary cause of price discrimination in this industry, and that much less discrimination would exist without regulation. In total, the above analysis shows that regulation has been the essential ingredient for long-term price discrimination in those transportation industries whose nonregulated market structures would be oligopolistic or competitive. Rate of Return It proved difficult to estimate whether public utilities have been able to obtain higher than market rates of return under regulation. This is also the case for the transportation industries. Since regulation has clearly resulted in increased price levels and greater price discrimination among the airlines, motor carriers, and railroads, one would expect increased rates of return to be a result. Data indicate that railroad profits did increase during the period that effective regulation was being developed, and prior to the beginning of the railroad's decline. This conclusion is supported by the history of the railroad's rates of return on book investment from 1890 to 1968. Just as monopoly power is no guarantor of excess profits, it can be seen that regulation does not guarantee the achievement of greater than market rates of return by an industry, especially one that is in secular decline. from 1956 to 1965, the most successful of the California intrastate carriers (Pacific Southwest Airlines) had returns on stockholder equity of from 0. 0 to 227. 2 per cent, with most returns being between 30 and 45 per cent. 4 On the face of it, this indicates that while the CAB has approved liberal rates of return and that such returns have been achieved in some years by the regulated airlines, the most successful non-regulated airline has enjoyed generally higher returns. Overall, the above evidence is quite inconclusive regarding whether regu-lation has raised the rates of return for these regulated industries. Entry Control There was no need to con sider entry control in the case of the public utilities since, as natural monopolies, only one firm can operate efficiently in any market. Therefore, the most regulation can do is to decide which one of several alternative firms should be allowed to provide the desired service in various markets. Assuming comparable operating efficiency, this is a matter of a wealth transfer between individual firms with little effect on fundamental economic results. Wherever two or more firms can survive in a market, how-ever, entry control is vitally important for the maintenance of a monopoly or cartel. Without such control, any larger than normal profits will attract new suppliers to the industry, thereby reducing the benefits available to the exist-ing producers. Thus, an indication of producer protection by regulatory com-missions is their effectiveness in limiting entry into an industry. It is important to note, however, that while regulation has served to re-strict entry and hold down the number of regulated airlines and motor carriers, it has failed to limit the inflow of resources into these industries because of two fundamental imperfections in the regulatory framework. The first imper-fection results from there being little or no control over the amounts of re-sources each existing carrier can bring into the industry. The second stems from the fact that the CAB and the ICC have no power to assign specific market shares to individual carriers where two or more carriers are authorized to provide comparable service. Since regulation prevents the carriers from utilizing price rivalry to obtain larger market shares, they turn to service-quality rivalry in their endeavors to obtain increased shares of the cartel benefits available in each market. The result is chronic over capacity despite (or because of) regulation. CONCLUSION The evidence presented above has not always been clear and unambiguous, but the essential thrust has been consistent with implications derived from the producer-protection hypothesis, once the effects of prior market structure were taken into consideration. In important respects, regulation has not had significant impact on public utilities (whose non-regulated market structures are natural monopolies), whereas it has substantially influenced the transportation industries (having oligopolistic or competitive non-regulated market structures). With regard to price level, regulation has clearly increased the prices charged by airlines, railroads, and freight motor carriers. In contrast, it ap-pears to have had only limited and long-delayed effects in lowering electric utility rates, with most of the few regulatory benefits going to industrial and commercial consumers, that is, to the consumers who already possess consider-able market power and whose large use of electricity makes it worthwhile to seek to influence regulatory decisions. In addition, the evidence from one local utility shows that gas rates were increased and decreased by both regulatory and company actions, with no clear pattern of regulatory effects. There was a similar pattern of effects regarding price discrimination. Little change in this practice resulted from regulating the natural monopolies, except for those cases where discriminatory prices appeared. On the other hand, industries whose prior market structures were oligopolistic or competitive were able to practice extensive price dis-crimination with regulation, while they had difficulty doing so without it. The evidence regarding rates of return is quite inconclusive. Overall, remarkably little of the available evidence suggests that consumers are protected by regulation. The producer-protection hypothesis yields implications that, by and large, are consistent with what is found to have occurred as a result of regulation. It follows that wherever substantial monopoly power exists in a non-regulated market structure, regulation should have relatively little impact; and, where there is little or no monopoly power in the prior market structure, regulation should have an important impact by help-ing formerly independent producers form a cartel for their benefit and protection. It is probably incorrect to conclude that the producer-protection hypothesis is the most predictive of all possible hypotheses regarding the effects of government regulation.

Unit 1 -IP- Research Strategy Essay Example | Topics and Well Written Essays - 250 words

Unit 1 -IP- Research Strategy - Essay Example Consequently, crime rate in US is increasing at a consistent rate for last two decades. At the same time, it is suggested to law enforcement agencies to cultivate a culture of critical information sharing in the public through offering financial rewards. In this way, people will get motivated towards pointing out criminals in the society. This development may well serve as a substitute for unannounced public surveillance (Koppen, Eleffers, & Ruiter, 2011). In parallel, this paper will accumulate necessary information about the phenomenon of public surveillance, through series of focus group discussion with governmental officials in order to document their viewpoint. On the other hand, public opinion will also be summarized through a similar technique (Muller, 2011). Notably, this research will develop its argument through qualitative means. Because, of the subjective nature of issue at hand. In this way, interviewers can abstract meanings from other sources such as body language and other similar factors. On the ethical front, this research will not disclose any participant’s identity. At the same time, the research procedure will be kept transparent through reporting the views of public and government in their original form (Sofaer & Eyal, 2010). However, general public management implications may be derived from the information collected. Koppen, M., Eleffers, H., & Ruiter, S. (2011). When to Refrain from Using Likelihood Surface Methods for Geographic Offender Profiling: An Ex Ante Test of Assumptions. Journal of Investigative Psychology and Offender Profiling 8 ,

Should society be more active in developing alternative strategies for Research Paper

Should society be more active in developing alternative strategies for caring for the elderly - Research Paper Example Therefore, there is an additional momentum to make societies more active in developing alternative strategies for caring for the elderly population. Elderly population involves both, individuals who remain fit by adopting healthy lifestyles and others witnessing an intense health care requirements. However, demographic and epidemiological surveys state that over 85% individuals belonging to the age group above 80 years witness one or more health related chronic condition while 62% of this population reports more than one health related predicament (Anderson & Horvath, 2004; MacKellar, 2000). It becomes even more challenging for the societies to devise appropriate strategies for elderly care as UNPD stated that â€Å"the number of older persons has tripled over the last 50 years; it will more than triple again over the next 50 years† (UNPD, 2002). The trend in population is attributed to decreasing fertility and increasing life expectancies, life expectance increased by two decades since 1950 (from 48 years in 1950-55 to 68 years in 2005-10) while the fertility rate dropped from 5 children per women (1950) to 2.5 in present situation and is likely to reduce to 2.2 by 2050 (Population Aging: Facts, Challenges, and Responses). The fact brings to attention that over the yea rs there will be higher elderly individuals and less population of working-age which could directly influence economy and business of the societies. Thus, population ageing lift alarming and primary challenges. In order to deal with the coming events it is essential that strategies be designed to deal with such overwhelming situation. Strategies should encompass novel opportunities, in the form of extensive working years depending upon individuals capability and requirements. The present article deals with the formulation of strategies involving elderly individuals, organizations and the societies. These involve- World elderly population estimated by UN Population

The officer in story In the Penal Colony Essay Example | Topics and Well Written Essays - 1000 words

The officer in story In the Penal Colony - Essay Example He moves in ways that are familiar to him. What he has done in the past matters much to him. He is found to be extremely loyal to his cultural tradition. Historic practices are of great value to him. His commitment towards the machine shows his mindset. He is found to be much dedicated to the general way of punishment. He is very much loyal to the traditions and the historic way of doing things. What he is aware of is nothing but the cultural traditions of his place. His thoughts and actions are based on the â€Å"current individual† factor. This very factor drives his attitude. The officer is the product of his circumstances. The author Franz Kafka places the officer in a situation that justifies his strange attitude. In the story we find that the officer is compelled to convince the explorer about the relevance and necessity of the machine. The presence of the explorer created an atmosphere of urgency in the colony. This urgency is visible in the words and actions of the off icer. The officer feels that unless he convinces the explorer, the machine and the punishment system will be put to an end. He therefore explains the positive aspects of the machine. We find that the officer fails to convince the explorer about the importance of the machine. The officer’s mood changes because of the explorer’s attitude. Current situation again starts dominating the officer’s behavior. This gave him the motivation to free the condemned man and place himself in his place. The situation made the officer resort to such an action. The officer understands that his mission is no longer successful. The system which he believed and followed all these years is going to be abolished in the colony. He therefore decided to subject himself to the machine. His act means that he willingly became a martyr for the machine. He represented his mistake and accepted the punishment for that. This is evident in the inscription ‘Be just’. This very behavior of the officer is caused by his situation and brought up. The officer has immense enthusiasm about the machine he created. The so called ‘justice’ of the old commandant made him crazy. The officer blindly follows the old Commandant. He is overenthusiastic over the system he formed. The machine embodies the system he created. The apparatus symbolizes the notion of justice. The officer is fully devoted to the system of the old Commandant. He is crazy to be the judge of the colony. He is of the belief that by executing people using the machine he is establishing justice. ‘Guilt is never to be doubted’ is the motto of the officer. The machine puts immense torture on the body of the punished individual. The officer’s satisfaction lies on the idea that injustice is rightly punished. He feels that the punishment establishes transfiguration and enlightenment. This very notion makes him subject himself to the machine. He wants to personally experience the fe eling. We read that â€Å"But how quiet he grows at the sixth hour! Enlightenment comes to the most dull witted. It begins around the eyes. From there it radiates. A moment that might tempt one to get under the Harrow oneself! Nothing more happens than that the man begins to understand the inscription; he purses his mouth as if he were listening. You have seen how difficult it is to decipher the script with one’s eyes, but our man deciphers it with his wounds†¦Ã¢â‚¬  (Kafka 1995). The officer further believes that the individuals who are

The Hexagon of Excellence Assignment Example | Topics and Well Written Essays - 500 words

The Hexagon of Excellence - Assignment Example When there is effective communication, teamwork and trust, the organization is headed for excellence. With increased trust, project funding can be brought down from the executive level to intermediate management (Schein, 2010). This characteristic reduces the cost and time of methodology execution. Training and education is a significant aspect that has both quantitative and qualitative results. Quantitatively, the product development time is shortened while higher quality decisions are made faster. The cost of project is lowered through a reduction in paperwork and the number of people involved while higher profit margins are realized. Qualitatively, there is improved visibility and emphasis on results with enhanced coordination. The morale of workers increases resulting in improved customer relations (Kerzner, 2005). Training and education are necessary to maintain a competitive workforce. The strategy helped the previous employer to maintain innovativeness in project implementation, which continuously made work easier, less expensive and also boosted the morale of employees. There was a project management curriculum that was reviewed annually to incorporate new areas of competence. It contained a core competency prototype for the elementary and advanced abilities that a project manager was required to possess. All the training programs were focused on supporting the core competency skills. Moreover, trainings were conducted regarding ethical behaviour within the company as well as when interacting with customers. Project managers were also taught on decent business practices. Project management executives were also involved in senior managers’ workshops and trainings designed to enhance maturity of project management (Rothaermel, 2012). Organizations lose huge sums of money through wasted project spending leading to low shareholder value. A major factor contributing to such losses is failure to align projects with corporate

Quantitative Methods Exam Paper Term Example | Topics and Well Written Essays - 1000 words

Quantitative Methods Exam - Term Paper Example This in the long run supports accuracy and exactness of research conducted. ( Thompson 2002) a. Process- pilot studies are conducted to determine the feasibility steps to be followed in the main study. Feasibility steps must have all the prerequisites of simple statistical techniques. When the feasibility steps are not as required, they may mislead the conclusion on whether the project can be undertaken or not. b. Management- Pilot studies help solve all the human and data management problems in all the participating centers of the research process like personnel and data. Management is mandatory in any research since together with planning one would be able to minimize all the costs of conducting research and bringing out the findings clearly. c. Resources- pilot studies save a lot of time and money by foreseeing research that can be unproductive if carried out since they provide enough data to researchers for decision-making. Decisions on the resources to employ and those not to employ can easily be made hence help save on the necessary costs. (Dunn & Clark 1994) I. Define the population concerned- This is the basis of a successful statistical practice as it includes the definition of the sample from which our sample is picked. This contains items with the desired characteristics desired by the body. The essence of this is that there are no enough resources to gather information from all the items in the population. II. Specify the sample frame. This includes a set of items, which would be measured. This helps in the identification of each single element to be included in the defined sample. This is appropriately done by listing all the elements of the population with their contact information. VI. Do the actual sampling and data collection. Good data collection will involve following the defined process, keeping data in a timely

Revenue Policy Coursework Example | Topics and Well Written Essays - 250 words

Revenue Policy - Coursework Example Government budgets are usually limited by the amount of revenue obtained from various sources such as taxes among others, thus the need to tie expenditures close to community needs and goals. Aligning revenue policy with community values ensures that revenue is expended on the most urgent needs of the society. It ensures that development activities aimed at achieving the objectives of the community. According to Morgan, Robinson, Strachota & Hough, James (2014), administrators in public office â€Å"should recognize and honor community calls for government response and services† (P. 216). Revenue policy aligned with community values enable the government to focus on the preferences of citizens and focus more on how to provide the community with what the citizens want most (Moryl, 2010). Revenue policy alignment with community values also ensure that appropriate tax policies are implemented, taking different economic backgrounds of citizens (Devas, Blore & Slater, 2012). As such, it is significant to align revenue policy with the values of the society in order to ensure that the preferences of the citizens are met and that the overall development objectives and act ivities to further such objectives are adequately funded. Aligning revenue policy with community values enables the government to focus on the overall welfare of the community. Moryl, R.L. (2010). Alignment of community preferences, Economic Development Goals and Policy: Considering Economic Development Goals, their Expression and Their Execution in Economically Struggling Communities. Retrieved on November 30, 2014 from

Food and Beverage Operations Management (Unit 5) Assignment - 1

Food and Beverage Operations Management (Unit 5) - Assignment Example Food production systems vary in methods of preparation, cooking and serving of the food to the customer. The variation is in terms of the actual location where food production takes place, the total time taken from preparation to service, the number of staff required, quantity of food produced and the level of hygiene observed. The main considerations in food production consist of: quality of raw materials, food hygiene, minimal wastage, proper food storage, suitable preparation of every food item, and employees’ compliance with food handling regulations. In the central distribution system of food production, food is produced in bulk off-site. This system is often adopted by large chains who are seeking to outsource part or all of their food production. This is also known as vacuum cooking: goods are brought in, prepared, cooked and portioned into plastic pouches which are then vacuum packed. The food is then chilled and refrigerated. When a customer orders meals, the sealed poaches are re-heated then the pouch is cut open and the food is served on plates. The conventional food production system is applied in the majority of kitchen establishments. The processes involved are bringing goods into the kitchen, storage (freezing, refrigeration or dry store), and preparation, taking order from customer, cooking and serving. During the cooking process foods can be cooked in a variety of methods. Menu is a statement of the food and beverage items available or offered by restaurants fundamentally based on consumer demand and intended to achieve specific purposes. The menu is the foremost ‘sales tool’ for products and drives the concepts, image, theme, quality and the overall mission of the restaurant. An efficient menu relies on precise combination of food items, prepared perfectly to the satisfaction of the guests. a) Consumers –Food and beverage operators are obligated to

Should illicit drugs be legalized Essay Example | Topics and Well Written Essays - 750 words

Should illicit drugs be legalized - Essay Example When one first hears that question, the mind immediately jumps to little packets of drugs like heroin and cocaine stacked on supermarket shelves where at most one would have to present id and thereby be in possession of them. However that might not exactly be the scenario the question itself is aiming at. No doubt drugs like heroin and cocaine should not be legalized. That is a matter so obvious that it is likely not to be the matter under debate and discussion anyway. The gray area arises when many of those illicit drugs are illustrated to have great medicinal benefit and seem no more capable of harm that cigarettes or alcohol. To answer the question, one must first explain what illicit drugs mean and how they may be further divided. Illicit drugs are any drugs that are illegal to trade, grow or possess. The word 'drugs', as mentioned, immediately gives rise to a negative stimulus in even the most educated of minds. But drugs do not necessarily have to be negative substances, or sub stances that harm a person. Medicines are also drugs, and many medicines also have the potential of being abusive substances, when administered incorrectly. Why then are they never sought to be made illegal? The answer to that is simple: because their benefits far outweigh any possible side effects that they may have. Certain illicit drugs such as Marijuana have been medically proven to have positive medicinal effects on patients suffering from diseases such as cancer, multiple sclerosis or even AIDS. Granted, it is more popular as a recreational drug than a medicinal one, but perhaps the question should be over how to reduce the recreational appeal and enhance it more medicinally, and the laws against it should be not on the basis of sale or possession, but rather on stricter guidelines for its distribution. To say that all illicit drugs should be legalized is wrong, but to say that none of them should be is equally wrong. Drugs that are capable of being beneficial if correctly use d, such as the aforementioned marijuana should be further studied so that their harmful effects can be minimized and they should then be sold as medicines, but under the supervision of a doctor and only in the possession of a prescription. Antidepressants and relaxants are one of the most popularly used substances for abuse, yet they continue to be sold in pharmacies across the world, in likely every city of the world. Even cough syrup and laxatives have been recorded as abuse substances. Humans are capable of extracting negative benefit from almost any kind of substance or object imaginable. To make the substance illegal is counter-productive, as humans are also capable of find ways around the restrictions imposed upon them. Furthermore, it makes no sense to have substances like cigarettes and alcohol, which are shown to have almost no medicinal or health benefits at all, are freely sold, served and used, but others such as the aforementioned marijuana are not. Indeed, the reason t he latter is used might perhaps be the only reason the former are used: mental relaxation. Adults that consume alcohol or some generally do it to achieve a certain sense of calm or relaxation. When marijuana aims to serve the same purpose, why is the matter considered taboo? Those that argue over its being multiply more harmful do not consider how certain forms of tobacco, such as cigars, might be even more harmful than marijuana, yet they too are freely and legally sold. Perhaps the main fear over legalization of these drugs is that they tend to appeal to the younger generation, who unlike the adults that consume alcohol or smoke, might not be able to control their dependence on

Time Is Wealth Essay Example for Free

Time Is Wealth Essay Life is all about managing time and dare for venture. This universe is nothing just a main manesfactation of routine and a splendid example of time management. It is said, â€Å"Coming and going is a part of man dunce life but if time lapse it will never ever come again†. â€Å"Time and tide wait for nothing†. Islam also makes it compulsory for it as five prayers at fix time. It is a factor to be looked upon in order to complete shoulder to shoulder with world. As the famous saying is, â€Å"today and not tomorrow† and â€Å"don’t put it till tomorrow that you can do today†. Procrastination and indolence are vices that must be killed at their birth. Life an undoing current the time of life is flowing out. All the time is valuable but there are certain precious moments to be looked upon. A lost moment is lost for good. Hence, the need of making the best use of every minute that is flowing out in eternity. As William Shakespeare said, â€Å"time is health as well there is a proper period of life when health has to be cared for so as to prevent its lost in future. This time is youth. From the beginning to the end of education every effort is made to impress upon us the supreme value of time. it is said,’time and tide wait for nothing†. It is true to some extent as if it is lapsed, one can’t find it anymore. Life on earth is depend out, both for existence and development on proper utilization of certain processions and quantities whether it is inherited from ancestors or given by nature. One of these is time by which is meant the total spam of our life. In day to day existence we are left about 8 to 10 hours of time after accommodating certain demands of our nature such as eating and sleeping. Thus calculated a span of life covering on an average a length of 60 years is reduced to not more than 20 years, if the years of childhood are not taken into account because we are not aware of doing my thing. These 20 years should be used properly. It is said, â€Å"Time is wealth, it is true for great extend for the money we earn is after all the return we receive for use of our time that we make our income therefore, varies according as our time is used or misused†. â€Å"Those who manage time succeed in every walk of life†.

Research into motivations for mountain biking tourism

Research into motivations for mountain biking tourism The two types of survey taken into consideration were a mail survey and an e-survey. The former is reported to be the most effective method of surveying a membership organisation (Veal 1997). This delivery method was not undertaken though, due to the cost of printing 360 questionnaires and the accompanying letters, as well as purchase of envelopes and stamps. These expenses would increase substantially if reminders were to be sent. Therefore, it was decided that an e-survey would be employed. The advantages of an e-questionnaire included low cost of conducting the survey and the possibility of instant analysis of the collected data (Veal 1997). An additional benefit was the possibility of designing a visually attractive questionnaire. Furthermore, online surveys were selected as they are eco-friendly, owing to the non-use of paper (Survey Monkey 2007), an approach reflecting the basic principles of the Forestry Commission, the administrator of the locations which are a focus of this study. An e-survey is also more advantageous for the respondents as they are allowed to take their time to answer the questions. At the same time, completing a survey online is quicker in comparison with filling out a postal survey (Survey Monkey 2007). The biggest disadvantage can be the general perception of some e-surveys as part of the increasing volume of ‘junk e-mail’, which might play a role in response rates (Veal 1997). The spam and personal data protection concerns were addressed by selecting a legitimate and reputable organisation (IMBA U.K.) to distribute the e-questionnaire. Another disadvantage of a web-based survey, just like a postal one, is its limited administration, which can negatively affect the response rate (Survey Monkey 2007). Further drawbacks of using a web-based survey include technical faults and multiple submissions by the same respondent. Although it was impossible to prevent the former issue, the latter was solved by the use of a tool allowing only one response per computer. 2.3. Survey instrument A two-page, self-administered fully electronic questionnaire was designed using an online survey tool surveymonkey.com. The questionnaire design process offered by Veal (1997) was adopted in the present work. Firstly, literature review was conducted to identify conceptual problems and research questions. Secondly, a list of information required to address the issues as created. Thirdly, questionnaire was selected as a method which would meet the information requirements. The questionnaires used by Green (2003) in a survey on IMBA U.S. members, as well as a study by Cessford (1995) on New Zealand mountain bikers served as a blueprint in the questionnaire design process. The factors examined in the questionnaire can be divided into five groups corresponding to the research objectives: 1. mountain bikers general characteristics (type of mountain biking participated in, level of advancement, frequency of participation); 2. mountain bikers’ demographic and socio-economic characteristics (age, gender, household size, education, occupation and income); 3. the Forestry Commission locations used by mountain bikers (identification of the most popular mountain biking centres in Great Britain); 4. travel patterns of mountain bikers and trip-related factors in decision making (importance of promotional channels and of various destination features in destination choice, spend, means of transport and accommodation used, use of tour operators); 5. the importance of adventure components in mountain biking and the motivations of mountain bikers. The e-questionnaire consisted of 21 questions, 15 of which concerned the respondent’s mountain biking experience, while the remaining 6 their demographics (see Appendix 4). The demographics section was presented on the second page, as inserting all 21 questions on a lengthy single page might discourage respondents from completing the survey. 19 questions were closed, while only 2 open-ended. It was decided that pre-coded questions are a more reasonable option since the questionnaire was respondent-completed and, as reported by Veal (1997), open-ended questions are too time consuming, which can negatively affect response rate. As regards question techniques, 2 kinds of rating scales were employed, namely Likert scale with simple YES/ NO answers, as well as semantic differentials indicating the degree of importance of a particular feature using 5-point scale (1 – not important, 2 – quite important, 3 – important, 4 – very important, 5 – extreme ly important). These two scales were not only easy to construct and administer, but also respondent friendly. Several questions were checklist or multiple choice type, and only 2 were open-ended, though they did not require descriptive answers. The ordering format was based on Veal (1997), who suggested sequencing questions in the following order: easy, relevant and personal. The questions were kept compact and simplified wherever possible, and clarity of layout was assured by using the online survey tool. Introductory remarks specifying the purpose of the survey were included on top of the questionnaire, while confidentiality and anonymity were ensured in remarks preceding the demographic section of the questionnaire. In addition, a thank you page was created at the end of the questionnaire. These measures, coupled with the survey participation request posted on IMBA U.K. forum in advance, were employed to maximise response rate. In order to ensure validity of the questionnaire-based data, ‘dummy’ categories were included. In question 4, listing the Forestry Commission managed mountain biking centres, 3 non-existent locations were added – Mammoth (ENG), Gutter Valley (SCO) and Badger Trail (WAL). In question 8, the same feature was repeated twice under different wording (‘Strong mtb community/ culture’ and ‘Strong mountain biking community/ culture’). This approach is suggested by Veal (1997) as a tool of measuring the degree of error in r esponses. In the pre-testing stage of the questionnaire design, a 21-question draft was e-mailed to 10 members of IMBA UK forum who had earlier declared that they would be interested in completing it. The purpose of the pre-test was to determine whether the instructions and questions were interpreted in a manner which had been intended (Finn et al. 2000). Specifically, wording, sequencing and layout of the questionnaire were to be tested (Veal 1997). Most of those who replied described it as â€Å"easy to complete and not time consuming†. Nevertheless, problems in two questions were indicated. Firstly, extending the list of Scottish mountain biking sites in question 4 was suggested. Upon reviewing the Internet sources, a total of 8 sites were added to the list. Secondly, it was signalled that question 13 asking about an approximate spend per trip was not precise enough. This issue was addressed by specifying the areas of spending that the respondents should consider (travel, food, drink , accommodation).

An Overview of Security

An Overview of Security Security Introduction Security is the level of imperviousness to, or insurance from, damage. It applies to any powerless and profitable resource, for example, an individual, staying, group, country, or association. As noted by the Institute for Security and Open Methodologies (ISECOM) in the OSSTMM 3, security gives a type of insurance where a division is made between the benefits and the danger. These partitions are nonexclusively called controls, and frequently incorporate changes to the advantage or the threat (Herzoq, 2014). Computer security is considered to be a security that is applied to computing devices such as smartphones, computers as well as computer networks such as private and public networks, including the whole Internet. The computing security covers all the procedures and mechanisms by which information, digital equipment and services are protected from unauthorized access, change or destruction, and are of growing importance in line with the rising reliance on computer systems of most societies worldwide (Musa, 2014). Interview An interview was conducted in order to broaden the views: What is the difference between http and https? Hypertext Transfer Protocol (HTTP) is a convention utilized as a part of systems administration. When you write any web address in your web program, your program goes about as a customer, and the computer having the asked for data goes about as a server. At the point when customer demands for any data from the server, it utilizes HTTP convention to do so. The server reacts again to the customer after the solicitation finishes. The reaction comes as site page which you see just in the wake of writing the web address and press Enter. Hypertext Transfer Protocol Secure (HTTPS) is a mix of two separate conventions. It is more secure approach to get to the web. It is blend of Hypertext Transfer Protocol (HTTPS) and SSL/TLS convention. It is more secure approach to sending appeal to server from a customer, additionally the correspondence is absolutely scrambled which implies nobody can recognize what you are searching for. This sort of correspondence is utilized for getting to those sites where security is needed. What is the difference encoding, encryption and hashing? The purpose behind encoding is to change information with the goal that it can be legitimately (and securely) devoured by an alternate sort of framework, e.g. double information being sent over email, or review unique characters on a site page. The objective is not to keep data mystery, but instead to guarantee that it’s ready to be legitimately devoured. Encoding changes information into an alternate organization utilizing a plan that is openly accessible so it can without much of a stretch is turned around. It doesnt oblige a key as the main thing needed to translate it is the calculation that was utilized to encode it. The motivation behind encryption is to change information to keep it mystery from others, e.g. sending somebody a mystery letter that just they ought to have the capacity to peruse, or safely sending a watchword over the Internet. Instead of concentrating on ease of use, the objective is to guarantee the information cant be devoured by anybody other than the planned recipient(s). Encryption changes information into an alternate arrangement in such a path, to the point that just particular individual(s) can invert the change. It utilizes a key, which is kept mystery, in conjunction with the plaintext and the calculation, keeping in mind the end goal to perform the encryption operation. All things considered, the cipher text, calculation, and key are all needed to come back to the plaintext. Hashing fills the need of guaranteeing trustworthiness, i.e. making it so if something is transformed you can realize that its changed. Actually, hashing takes subjective include and produce an altered length string that has the accompanying qualities: The same information will dependably create the same yield. Different dissimilar inputs ought not deliver the same yield. It ought not to be conceivable to go from the yield to the info. Any adjustment of a given data ought to bring about extreme change to the hash. Hashing is utilized as a part of conjunction with confirmation to create solid proof that a given message has not been adjusted. This is proficient by taking given information, encoding it with a given key, hashing it, and after that scrambling the key with the beneficiarys open key and marking the hash with the senders private key. At the point when the beneficiary opens the message, they can then unscramble the key with their private key, which permits them to decode the message. They then hash the message themselves and contrast it with the hash that was marked by the sender. In the event that they match it is an unmodified message, sent by the right individual. Why hackers are a step ahead from security? Moderate size organizations are in a tight spot. As their capacity to gather client information expands, so excessively does the trouble of ensuring that information. Also during a period when computerized data consistently ventures by means of cell phones and in the cloud, a programmers right to gain entrance to that information multiplies. Usually the business runs speedier than efforts to establish safety. Income originates from the business, so there is normally a race [for security] to stay aware of the business. On the off chance that there is another ability to make speedier income by utilizing a cell phone or another portable computer or even another type of purpose of offer in the field, generally efforts to establish safety are not promptly contemplated. How do you deal after being attacked by a hacker? Hackers are winning the battle against todays enterprise security teams. In the year since Target suffered a record-breaking data breach, it has become clear that the lessons learned from that attack have not been widely applied. At the time of composing, 636 affirmed information ruptures have happened in 2014, a 27% expansion over the same period a year ago, with prominent victimized people, for example, Home Depot, ebay, Jpmorgan Chase, Dairy Queen, Goodwill and numerous others. The assault surface as it exists today is not at the border, yet inside the IT environment. Programmers utilized approve certifications to plant charge card taking malware on a number of Targets purpose of-offer (POS) frameworks. Truth be told, as indicated by the 2014 Verizon Data Breach Investigations Report, approved qualifications were utilized by programmers as a part of 76% of all system interruptions. When a clients certifications have been traded off, programmers can move along the side through a sy stem totally undetected without activating edge based discovery programming. Why the security keep the backup outside the city? A report from Pandalabs found that 30 million new malware dangers were made in 2013 – a normal of 82,000 consistently. There is no real way to stay aware of this quick rate of malware creation, which is continually developing. Firewalls and against infection marks are sufficient to stop normal dangers, however do nothing to stop an aggressor with legitimate certifications imitating a client. Rather, IT groups need to stay one stage in front of programmers by checking the qualification use for suspicious client action as a consequence of stolen certifications or noxious insider (Staying one step ahead of hackers, 2014). Which is the best op.system for security using? There is a list of operating systems that are being widely used; however the best operating system which is being used is one which has security focused. The one of operating systems is OpenBSD which is an open source BSD operating system and is one which is heavily concerned with security. On the other hand, another operating system is EnGarde Secure Linux which is also considered to be a secure platform designed for servers. References Staying one step ahead of hackers. (2014). Retrieved 12 16, 2014, from IBM: http://www.ibm.com/midmarket/us/en/article_security_1402.html Herzoq, P. (2014). Open Source Security Testing Methodology Manual. Retrieved 12 16, 2014, from isecom: http://www.isecom.org/research/osstmm.html Musa, S. (2014). Cybersecurity: Understanding the Online Threat. Retrieved 12 16, 2014, from evollution: http://www.evolllution.com/opinions/cybersecurity-understanding-online-threat/

Dont Confuse Freedom with Individual Rights :: argumentative, persuasive essays

How many times have we heard people justifying their needs by saying something like, "This is a free country. I have the right to (anything goes here)". For words that people use quite frequently, they are often misused and misunderstood. From my point of view, it seems that most people use them as an alternative to explaining the real reasons why they want something. So let me tell you what I think the two words mean in practice. Freedom is taking responsibility for you own actions and your own life.   If for example someone says, "I am freeing you of the need to make decisions", they are in fact taking your freedom away. So, how many people act as if they are free? Not all that many. Those who constantly complain that the government should do something about this or that, or that they have had a lot of bad luck in life, are not free. These people have abdicated their freedom to outside factors. Acknowledge that you are in the best position to alter your own situation and accept the consequences of all of your actions and you will be truly free. And it will be obvious, from that point on, when someone tries to take your freedom away. What about personal rights. Do we have the right to free speech? What about a minimum standard of living? Or the right to bear arms and to vote? All of these rights seem to change in every culture in the world, so are there no ultimate rights. Well let me tell you. There are two ways to look at it. There are the rights that nature has given us. Which are the right to have what ever we are strong enough to take and the right to die without mercy. Does that seem a little harsh? Well that's nature for you, she's a mother. Now the other way to look at it, is that rights are what most of the people in any given region agree is fair treatment. So, under this system there are no universal rights, just opinion. Does that make rights useless? Far from it. By constantly testing our rights against the current opinion, we learn the unofficial rules of our society. Thus if you can convince enough people around you that you have the right to fly unaided, then you are free to do so.

J. Robert Oppenheimer Essay -- biographies bio

â€Å"There must be no barriers to freedom of inquiry. There is no place for dogma in science. The scientist is free, and must be free to ask any question, to doubt any assertion, to seek for any evidence, to correct any errors. Our political life is also predicated on openness. We know that the only way to avoid error is to detect it and that the only way to detect it is to be free to inquire. And we know that as long as [we] are free to ask what [we] must, free to say what [we] think, free to think what [we] will, freedom can never be lost, and science can never regress.† J. Robert Oppenheimer A man who is almost synonymous with the development of the atomic bomb as well as with the conflicts between the desires of the government and the demands of the conscience, J. Robert Oppenheimer is one of the most influential physicists of our time. J. Robert Oppenheimer was born to a wealthy Jewish couple in New York in 1904. His father Julius Oppenheimer was a textile importer and his mother Ella Friedman was a painter. In his early years, he was interested in mineral collection and began to start sending letters to the New York Mineralogy Club. At age 12, the club asked him to present a paper unaware of his youth. He was successful in school, and his early education was done at the Ethical Culture School in New York until he graduated in 1921. After his high school education, a case of dysentery postponed his entrance into Harvard until 1922. He studied mostly math and science, showing a preference for chemistry saying that it was â€Å"at the heart of things.† He also showed a great affinity for learning languages and throughout his life he would pick up a language quickly in order to read a text in its original form. Finally,... ...ed privileges. It quickly degenerated into humiliation of Oppenheimer’s stance on the development of the H-bomb as â€Å"un-American.† He was attacked for being soft on Communism. He made little effort to defend himself, seemingly uncaring as to his own fate. In the end, the committee voted 4-1 against reinstating him, stating that he was a risk due to â€Å"fundamental defects in his character.† Oppenheimer returned to collegiate life, taking a post at Princeton. He spent most of the rest of his days in relative obscurity, publishing a series of articles on ethics and morality near the end of his life. He had seemed to lose his fire for scientific work with his denouncement. The scientific community was shocked and torn on what had happened to Oppenheimer, and he remains one of the most significant victims of McCarthyism. Oppenheimer succumbed to throat cancer in 1967.

Lady Luck Who :: essays research papers

On Tom Paine's Scar Vegas Mrs. Lady Luck, Who?   Ã‚  Ã‚  Ã‚  Ã‚  Tom Paine’s â€Å"Scar Vegas† takes place in a cheap Las Vegas hotel in the late twentieth century and shows the depressing life of a lonely ex-con. Traveling from Texas to Las Vegas for his sister’s wedding, Johnny Loop emerges as a simple, unlucky, depressed cowboy. Time after time it seems that Loop gets the short end of the stick. His dysfunctional background shapes his attitudes and interactions with others. Ironic, but a depressing ending leaves him helpless, alone, and frustrated. Sadly, it becomes obvious that he is not going to be able to turn his life around. Loop’s relationship with his sister is complex and distant. Their conversations often are awkward and sad: â€Å"’How come you never tell this guy you got a brother?’ â€Å"You was in prison.’ ‘So,’ I says. ‘Lot of people in prison. I’m your only family.’ ‘So she says. The sky is white and sick with heat. ‘Nice dress,’ I says†(128). Avoiding what they are trying to say, they often change the subject. Clearly they regret their weak bond. At the same time their efforts to improve their relationship are feeble. The lack of interest in each other’s lives further alienates Loop: â€Å"‘We’re are going to polish the floor with his face.’ On the seventieth the team goes into a huddle. Lucas and I lean against the wall†(134). Ironically, Loop should be as concerned, if not more, over the â€Å"pervert† flashing his sister. However, he chooses to stay out of it. His lack of action is not necessarily a sign of maturity, but more a lack of caring. The weak relationship along with a number of other factors further isolates Loop. Johnny Loop is a lonely aimless man fresh out of prison. Right from the beginning he is struggling not only with his money, but also his physical condition: â€Å"The Cowboys cracked my ribs but they are taped firm. I am now in Vegas after frying across the Texas panhandle in July top down because the top was broke up good when I was thrown through outside Amarillo my first real stop after Galveston†(123). This murky past conveys his rough background and his inherent unluckiness. By the time Johnny Loop actually gets to his sister’s wedding he has already hit what he thinks is rock bottom. His complex but distant relationship with his sister along with his background leaves him alone and worn down.

Health Status and Health Care Services in the United Kingdom

Health Status and Health Care Services in the United Kingdom with comparison to the United States HSM-310 Introduction to Health Services Management Course Project Date submitted: 10/18/2009 Table of Contents Executive Summary Population and Health Status†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. Demographic characteristics of population Mortality, Infant mortality data, causes of death *Availability of Health Services* Basic organization/general description of services institutions, providers of care Issues related to access Utilization of services (data, if available) Other related information/analysis Expenditures How are health services paid for; any roles for the government here Data on total expenditures *Macro environmental influences on the health care system* Public Private *Summary comments* Problems Opportunities Other related comments regarding this country's health care services Comparison to the United States: what works better, what is not working as well†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. Concluding comments: Lessons learned for the U. S. , other countries†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ Bibliography (required)†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. Executive Summary The United Kingdom’s population is growing and the people are living longer, this could be due to the fact that healthcare is free and people are using it when they need it and not waiting to see a doctor when they can afford it. However, with the growing size of the population the cost of healthcare is rising and the need for funding the tax financed health plan needs to be reformed. Hopefully by seeing what other countries use to have a successful health care plan the UK can implement some of their ideas with their own and ucceed at having an efficient and effective health plan that delivers the highest quality of health care. Population and Health Status in the United Kingdom The Office of National Statistics reported that the population in the United Kingdom (UK) was 61. 4 million people in mid-2008, which is a 408,000 increase from the year before. The rise in population over the past 12 months is not due to migration but to the increased number of birth s and the decreased number in deaths (ONS, 2008). It seems that the people in the UK are living longer and leading healthier lifestyles than in the past. The life expectancy at the time of birth for males is 76. 52 years and 81. 63 for females, and the infant mortality rate is 4. 85 deaths per 1000 births (Flag Counter, 2009). Below are the top ten leading causes of death in the United Kingdom: Ischemic heart disease Lower Respiratory infections Cerebrovascular disease Trachea, bronchus, lung cancers Chronic Obstructive Pulmonary Disease Colon and rectum cancers Breast Cancer Alzheimer and other dementias Prostate Cancer 10. Lymphomas, multiple myeloma (WHO,2009) Here in the US we share many of these leading causes except for Lymphomas and Prostate cancer, we add traffic accidents and diabetes mellitus. I would assume this is because Americans drive more than the British and that the general population of the US is overweight, which is a leading cause of diabetes. The US and the UK share nearly the same life expectancy and the infant mortality rate is a bit higher here in the US. Overall the US and the UK share little difference when it comes to life expectancy, infant mortality and the leading causes of death. Availability of Services The UK has a National Health Service (NHS) that is a publicly funded health care service. The NHS is divided into two different sections: primary and secondary care. The primary care section consists of General practice physicians, dentists, optometrists and pharmacist, the primary care section is referred to as the Primary Care Trust (PCT). The Secondary section is made up of acute or elective healthcare options, such as emergency and urgent care, ambulance and surgery, these acute services are referred to as NHS trusts. The PCT oversees around 29,000 GP’s and 18,000 dentists, there are around 175 acute NHS trusts, 60 mental health NHS trusts and 1600 NHS trusts hospitals. Emergency vehicles are also provided by an NHS ambulance services trusts; there are 11 of these ambulance services trust in England (NHS, 2009). The healthcare facilities are basically the same as they are here in the US; there are hospitals, clinics, urgent care facilities, doctor’s offices and pharmacies. The main concern with the access of healthcare in the UK is the waiting times to be seen by a specialist after being referred by a primary physician. In England the wait time is around 18 weeks to see a specialist. Many patients in the UK have said that there is difficulty in accessing GP on the weekends or after-hours as well. As with other nations the UK also has a shortage of healthcare workers which increases the wait times and the quality of care that patients are receiving. The main focus of the NHS is to provide the highest quality of care as well as decreasing the wait times and adding more healthcare facilities. Expenditures The NHS was built on the ideal that healthcare should be provided to everyone regardless of wealth. With the exception of charges for some prescriptions and optical and dental services, the NHS remains free at the point of use for anyone who is resident in the UK. It covers everything from antenatal screening and routine treatments for coughs and colds to open heart surgery, accident and emergency treatment and end-of-life care. The NHS is a tax financed healthcare system, the public pays a higher tax for their healthcare to be free. The Department of Health much like that in the US, oversees the NHS. All employees of the NHS are government employees and are by paid by the government. There is a very small private sector of healthcare in the UK and if you either be seen by an NHS physician or by a private physician whom you would pay out-of-pocket to see. The responsibility for health legislation and policy rests in the hands of the government at the Parliament of Westminster. The treasury/finance ministry set a budget and that determines what share of government receipt will be used to finance the healthcare system. The budget is done in three year cycles. In 2004 the total healthcare expenditure in the UK was 101 billion pounds the funding for NHS alone was 86. 6 billion pounds. The expenditure on healthcare is continually rising. Here in the US the healthcare system is privately funded through grants, donations and fees for service. We pay insurance to cover our healthcare costs or we pay out of pocket for the services. There has been some concern on whether or not the UK NHS system will continue to work, taxes will need to increase and there will need to be more funding. There is a push to have a mixed system that is both private and public. *Macro environmental *Influences There is a common problem with the migrant jump to the UK to take advantage of the healthcare and the citizens are footing the bill. The need for funding for NHS is rising and there is concern on how they are going to continue to pay for the services. The UK is in need of a plan to implement a privately funded healthcare service alongside the tax financed service. Implement co-pays on some of the services that are provided and take into consideration the benefits of including the private sector. Summary Overall the UK has a well implemented plan for their healthcare services, the problems that they face are the same that are faced by many other countries, from funding to the quality and the accessibility of services. In comparison to the US the UK faces many of the same issues, the shortage of healthcare professionals to the need for reform. The universal health care plan has worked for the UK and the private plan has worked for the US in the past but now there needs to be changes made because of the rising cost of healthcare in both countries. The UK is learning that there is a need for change and that by seeing other countries such as the US use private health insurance plans they can create some kind of balance. Bibliography

Costco Versus Sam’s Club Essay

The navigator basis of image has the control to navigate the company through external issues. Costco employs a divisional organizational structure that is nationwide and divided into three different divisions. Each division is controlled by an Executive Vice President and the regions are divided for the Senior Vice President. Costco opens its stores in different states such as the first time to open in South Carolina, â€Å"It’s pretty much spread like wildfire† (McMaster, 2001). One of the pressure for change was the economy and the recession that the businesses encountered and to be more strategic than its competitors to sell products as bulk to save money and make the consumer happy especially with large families. Sam’s Club does not have as much pressure as Costco would since Sam’s Club is a subsidiary of Walmart which is the largest retail store chain all across the world. â€Å"In this image, some, but not all, change intentions are achievable. Power, processes, interests, and the different skill levels of managers affect their ability to produce intentional change outcomes† (Ian Palmer 26). Costco and Sam’s Club are able to embrace the changes and the great outcomes by thousands of members who shop at the companies. Costco differ from other retail companies by the wholesale products that consumers can buy in bulk while still saving money in the long run even with the annual membership that Costco and Sam’s Club charges. The other change manager at Costco and Sam’s Club is that they both utilize the highlights of the goals as a coach because the way training goes, both warehouse company focuses on not only delegating the work but actions leading with words. For example, when customers are shopping for a certain item and the manager trains the employees on the products, what’s coming in and what’s going out, and also following schematics to ensure customers that when they shop at each parenting store, the customers are able to find the product in any store and in any state. One of the models that Costco and Sam’s Club seem to use is the 7-S Framework because the managers have goal sets, strategies and structure on how to train the employees and how they want the job to be performed. As a warehouse company, new products will arrive such as groceries and out goes the old because they are perishable. Based on the readings, â€Å"The 7-S Framework was developed by the McKinsey & Company consultants Robert Waterman Jr., Tom Peters, and Julien Phillips. It is based on the propositions that organizational effectiveness comes from the interaction of multiple factors and successful change requires attention to the interconnectedness of the variables. They characterize the factors into seven categories: structure, strategy, systems, style, staff, skills, and superordi-nate goals (Ian Palmer 125). The only bad thing about the 7-S framework is that its weakness is viewing at the external aspects because the products sold are not for just one type of demogra phic but more than one by offering different type of products and services. SWOT Analysis Since Costco and Sam’s Club are both huge warehouse retailers, each one has strengths, weaknesses, opportunities, and threats. Not only are the analyses internal, they are also external. Both have high employee retention because they do treat the employees well by offering above average salaries and great benefits. As for externally, both warehouse companies offer other products and services such as food courts, sell and install tires, gasoline, and business cards. As the class textbook says, â€Å"The Strategic Inventory involves a much more sophisticated analysis than that provided by the ubiquitous SWOT analysis (strengths, weaknesses, opportunities, threats). The danger with SWOT analysis is that it very easily becomes a listing not of strengths but â€Å"believed strengths,† not of weaknesses but â€Å"believed weaknesses,† and so forth† (Ian Palmer 137). Costco strengths offer a wide variety of products, high end and mid range, online and services but have a weak compliance function which limits the customer to product choices. One of the opportunities for Costco is that they have a growing demand for private labeling on their products which well known as Kirkland but with the foreign exchange rate fluctuations, the profit margins may seem lower than expected and services are much less used in other countries. Costco’s wide spread geographic presence though has its benefits, also exposes the company to the threat of foreign exchange rate fluctuations. Stated in the datamonitor, â€Å"Costco has operations in the US, Puerto Rico, Canada, the UK, Korea, Taiwan, Japan, Mexico and Australia. Thus, the company generates revenue in many other currencies besides its domestic currency which is the US dollar† (Costco Wholesale Corporation, 2011). Below listed is Costco SWOT analysis on Appendix A. Sam’s Club strengths are much stronger based on the fact of its association with Wal Mart but causing weakness because of the same products can be found in Sam’s Club where members have to pay for a membership and the Wal Mart supercenters may have more products to choose from without membership fees. In the readings of Real Estate Dynamics in Broadlines Retail, â€Å"SAM’S has the greatest geographic breadth of the three players, but the least attractive real estate and demographics: SAM’S faces the least competition with other clubs given that over 60% of the markets in which it has a presence are single-player club markets, and almost 40% of its store base is in these markets† (Turf Wars, pg. 55). The opportunities that Sam’s Club is offering online products and services, since Wal Mart also does online purchases, this gives the companies a greater advantage with Ecommerce. One of the weaknesses that Sam Club faces is that not only does the products and services overlaps with Wal Mart but also with other wholesale warehouse such as Costco. Below Listed is the SWOT analysis of Sam’s Club on Appendix B. Recommendation The recommendations for further actions within the organizations and the rationale chosen would be to focus more on the competitors’ products and services and match it or beat it by a certain percentage. There are two main retail wholesalers which are Costco and Sam’s club, keep as is ensures they are on top and not being able to monopolize the business. With antitrust laws, an agreement between competitors, this prevents the monopoly of powers, certain restrictions on mergers, and not only does it protect the sellers but also the buyers as well (www.antitrustlaws.org). References: Costco Wholesale Corporation SWOT Analysis. (2012). Costco Wholesale Corporation SWOT Analysis, 1-9. Retrieved from EBSCOhost. DATAMONITOR: Costco Wholesale Corporation. (2011). Costco Wholesale Corporation SWOT Analysis, 1-10. Retrieved from EBSCOhost. Ian Palmer. Managing Organizational Change, 2nd Edition. McGraw-Hill Learning Solutions, 2008. . John, M. (n.d).Costco to Open First South Carolina Store with Promotional Giveaway. Post And Courier, The (Charleston, SC), Retrieved from EBSCOhost. The Warehouse Club Industry. (2004). Black Book – Turf Wars: Real Estate Dynamics in Broadlines Retail, 55-81. Retrieved from EBSCOhost. Retrieved from the internet: http://www.antitrustlaws.org/ http://www.freeswotanalysis.com/retailing-swot/225-sams-club-swot-analysis.html http://www.yousigma.com/comparativeanalysis/costcowholesaleswot.pdf

Business cycle Essay

Discuss the phases of business cycle. Suggest Suitable Fiscal policy and monetary policy to overcome the recession in economy. Business Cycle – A business cycle is also known as trade cycle. It implies wave like fluctuations in the level of economic activity, particularly in national income a, employment and output. It is a short term picture of the behaviour of real output in a private enterprise economy. Business cycle refers to upturn and downturn in the level of economic activity that extends over a period of time. The business fluctuations occur in aggregate variable such as national income, employment and price level. The variables nearly move at the same time and in the same direction. However they vary in duration and intensity. Cyclic fluctuations have the following features: †¢Wave line movements – ocyclical fluctuations are wave like movements and are recurrent in nature ocharacterized by alternation of expansions( prosperity) and contraction ( depression) in economic activity oare repetitive and rhythmic ocontains oscillating movements in the form of waves from peak to trough and trough to peak †¢Synchronic – oEntire business of an economy acts like an organism oAny happening on economic front affects the entire economy oAnd through the mechanism of international trade affects entire world oexample -The Great depression 1929 †¢Cumulative – oProcess of expansion and contraction is of cumulative and self-reinforcing in nature oMoves in same direction until external forces reverses its direction †¢Self-generating forces – oIt can terminate the period of prosperity and start depression oCannot have definite period of prosperity or depression †¢Non identical – oPeriod of trade cycle are not identical although they recur with great regularity †¢Not symmetrical oPeak and trough are not symmetrical oMovement from upward to downward is more sudden and violent than that from downward to upward oDownturn is sharp and steep oIt is relatively narrow at its peak and flatter at its trough Phases of business cycle: A business cycle can be divided into four phases. They are shown in the fig 1.1 The phases are: 1.Expansion or prosperity or the upswing 2.Recession or upper-turning point 3.Contraction or depression or downswing 4.Revival or recovery or lower turning point These phases are recurrent and uniform in case of different cycles. But no phase has definite periodicity or time intervals. A business cycle starts from trough or low point, passes trough a recovery and prosperity phase, rises to peak, declines through a recession and depression phases and again reaches a trough. 1)Expansion or prosperity or the upswing or peak or Boom – The top of a business cycle is called Peak or Boom or prosperity phase. In the boom period, the overall business activity is rising at a more rapid rate. There is a rise in real output and incomes of the people. There is a rise in production, prices, employment, wages, interest rates, profits and in the volume of bank credit. The general mood of the businessmen is that of optimism and commercial. The industrial activity both speculative and non-speculative shows remarkable expansion. Construction activity gets a big boost. Share markets give good gains to the investors. Financial institutions tend to expand credit. In the words of Haberler. ‘‘Prosperity is ‘a state of affairs in which the real income consumed, real income produced and the level of employment are high or rising and there are no idle resources or unemployed workers or very few of either†. During prosperity period, there is a high level of demand for capital goods and consumer goods and services. Risky investments are undertaken by the entrepreneurs. Inefficient firms enter into the market and manage to survive. The high level of demand for the various inputs creates shortage of some of them. Inflation goes up. The economy becomes supply constrained. The state of prosperity proves to be short lived and the downturn of its period starts. 2) Recession or upper-turning point – The end of prosperity comes and enters into recession. Recession is a slowdown of business activity. In recession employment and output both decline. The forces which bring the contractionary phase of business fluctuations (recession) are as follows: a) As prices of the commodities rise the wages of the workers tend to lag behind. The reduction in the purchasing powers of the workers brings down the demand for consumer goods b) Due to shortage of some inputs the expansion in production of goods is hampered. c) The non-availability of credit beyond a particular limit of expansion acts as a serious brake on prosperity. The financial institutions begin to recover the loans. The firms which are unable to pay back the loans begin to liquidate their stocks. When more firms sell their output at the same time the price level starts falling. If a few firms get involved in losses a wave of pessimism runs through the share markets. The firms begin to curtail production. Workers are laid off. The outstanding orders for raw materials are cancelled. The new projects are shelved. The wave of pessimism passes on to other sectors of the economy and the businessmen become panicky and the whole economic system runs into crisis. Then the next stage of business cycle called depression starts. 3)Depression or Trough or downswing – Depression is the most fearful stage of a trade cycle. The phase of depression (also called slump) is characterized by low economic activities, rapid decline in general output and employment. The decline in economic activity is not uniform. There is much more decline in output in manufacturing mining construction transport industries. However there is comparatively less contraction in output in retail trade and agriculture. In slump, there is a marked fall in the average prices of the commodities. The costs are relatively higher the profits of the entrepreneurs decline. The purchasing power of the money is high but due to low income there is too much contraction in effective demand for consumer goods. The expenditure on capital goods or its replacement greatly falls Most of the firms reduce their output or close down. The income of the shareholders goes down. Depression or slump leads to redistribution of national income Profits and wages fall faster relatively to rent and other fixed incomes. The bankers  follow the policy of credit contraction. Due to dull business conditions producers are also reluctant to borrow funds Summing up in a period of slump there is negative net investment by firms falling demand of consumer as well as capital goods high unemployment and low level of imports. In the words of Haberler, Depression is a state of affairs in which real income consumed or volume of production per head and the rate of employment are falling. There are idle resources and unused capacity especially unused labour.’’ In the economic life of the world such acute crises have occurred in the years 1710 1827 1873 1907 and 1929. 4) Revival or Recovery – The economic conditions which we have described in depression phase do not remain as such forever. After sometime revival or recovery sets in under the influence of a variety of factors. The revival phase develops when the accumulated stock of commodities with the businessmen are exhausted. The costs under the impact of prolonged depression begin to fall. The prices which have reached its lowest level stop falling further. There is then complete harmony between costs and price relationship. When profits begin to reappear, the businessmen are induced to invest their hoarded money in some enterprises: In order to steal a march over other industrialists, they start repairs, renewal and replacements of their capital equipments and stocks. The capital goods industries resume activities. There is gradual of labor. The money incomes begin to increase and the effective demand is revived. The government also tries to break the spell of depression by starting construction or expanding some public works with a view to give more employment. The commercial, banks which have accumulated large reserve offer credit on favorable terms. The marginal efficiency of capital begins to rise and investment opportunities brighten up. The consumers start buying commodities to avoid the rise. Due to increase in demand for commodities, investment in various industries is stimulated and thus the revival takes place. The recovery phase of business cycle thus is characterized by rising production, increasing prices of both consumption and capital goods, rising of wages, rates, enlarged opportunities of employment, and greater amount of  spending on consumption and investment goods. Prior to 1940’s, there were frequent booms and depressions in the capitalistic world. However, after the World War-Il, the strong cyclical upswings and downswings have been considerably tamed by the timely applications of fiscal and monetary measures. The fluctuations in economic activity are now moderate. Consequently, the term economic expansion and economic contraction are used now for the terms boom and recession. Both expansionary monetary policy and expansionary fiscal policy are being used to counter the recession. Expansionary monetary policy is basically just lending more money to people; people borrow that money and spend it creating demand in the process. The United States has been using expansionary monetary policy for about 20 years straight now which has directly lead to massive increases in the levels of debt in the economy. Debt levels are so high now that no one can actually borrow any more so monetary policy has stopped working. Monetary policy is at the most expansionary setting possible right now and it is having effectively no expansionary impact on the economy as a consequence of excessive debt levels. Fiscal policy thus is the only option left available to actually rectify the situation; basically all you are doing is spending money through the government thus creating demand in the economy. Measures being taken include tax cuts, other measures being taken include infrastructure spending and extending the length of unemployment benefits. This is basically a Keynesian approach. Keynesian economics revolves around the concept of ‘aggregate demand’ the government can increase the amount of aggregate demand through government spending. A Keynesian approach is fundamentally the right way to go under the circumstances that exist as this crisis is basically a crisis of demand. The classical approach is to do nothing and to rely on the natural robustness of the macro economy to solve the problem. Most macroeconomists agree that this is ineffective if not stupid, but it was first thought to be the solution to the 1929 market crash. The Keynesian approach takes several forms but all of them are supposed to  result in the so called â€Å"multiplier effect† causing the economy to grow once it has been stimulated by making more money available at some place in the social system. Unfortunately it doesn’t work due to this money having to be borrowed or taken from some other part of the system. Keynesian economics is only a partial model and is unable to really show how it might grow. The current Keynesian methods in use are to borrow money from the public and increase the national debt. Also to print more money and use it to reduce this debt, but this means inflation and it is no more effective than that of the greater loans. Inflation is also dishonest because it makes the debt owed by the government of smaller value in terms of what its money can buy. Money is only a representative of wealth, not wealth itself. If the system were one of barter and in the present crisis then more money does not mean more wealth, except for the printers of course. To reduce the rate of interest on the national debt does help to reduce the budget deficit for the next year, but it is not very effective and will not solve the problem at anything like the speed needed. So that with present methods there is no way to get out of the recession. Fiscal Policy When it comes to how fiscal policy affects the economy during a recession, the government has some automatic stabilizers in effect. These items work to automatically stabilize the economy when a recession takes place. With fiscal policies, the government influences the economy by changing how it (the government) spends and collects money. For example, the income tax system acts an automatic stabilizer. When people make less money, they also pay less money in income taxes. Unemployment benefits are another example of an automatic stabilizer. This helps families continue to receive income so that they can keep spending and keeps the economy going. The most common fiscal policy actions in a recession are: †¢Tax cuts for businesses or for individuals – When the economy is struggling during a recession, the government can attempt to help the situation by charging less in taxes. In many cases, the executive and legislative branches work together to cut taxes for Americans. By doing this, it gives  people more discretionary income so that they can spend and stimulate the economy. i.e people and corporations have more money, which may make them more likely to buy things, which increases demand.Once the economy stabilizes, the government can gradually reintroduce the taxes and help keep the economy and the government going. †¢Increase Government Purchases Another way that the government can use fiscal policy to stabilize the economy during a recession is to increase government purchases. The government can use more money to buy goods and services from domestic providers. This increase in sales helps stimulate the businesses. This increases demand for labour, which can lower the unemployment rate.These businesses can then use this increase in income to buy more supplies and expand even further. Once this begins to happen, it can have a positive effect on the entire economy and stabilize the recession by providing more jobs and opportunities for unemployed entrepreneurs. †¢Expansionary vs.Contractionary – One of the arguments among economics on how to use fiscal policy centers around expansionary and contractionary strategies. An expansionary fiscal policy involves increasing government expenditures or lowering taxes so that the deficit increases. By comparison, a contractionary fiscal policy cuts back on government expenditures or increases taxes so that the government can have a financial surplus. Using an expansionary policy can improve the economy in the short-term, but eventually it could hurt the economy as the government’s debt becomes too large. Monetary Policy During an economic recession, unemployment rises while incomes, business investment and consumer spending fall. Monetary policy aims to shorten recessions by encouraging consumer spending and investment. Monetary policy actions can help shorten recessions or reduce their impacts, but economic conditions may limit their impact. In addition, it takes time for policy decisions to be felt throughout the economy at large. Government usually responds to an economic recession through stimulative fiscal policy, expansionary monetary policy or a combination of the two. Stimulative fiscal policy involves higher government spending in an attempt to stimulate the economy. Expansionary monetary policy consists of actions by central banks,  such as the U.S. Federal Reserve, RBI to expand the money supply to encourage more consumer spending and business lending. Expansionary monetary policy actions to battle a recession include the purchase of government bonds by central banks, reducing banks’ reserve requirements, and lowering short-term interest rates. Effects Of monetary policy- The purchase of government bonds by central banks injects more money into the economy. Lower reserve requirements give banks more money to lend because they are required to hold fewer reserves against deposits. Increased lending by banks stimulates business investment and expansion. A reduction in short-term interest rates also encourages more investment by reducing the cost of borrowing. Lowering short-term interest rates also reduces the rates on home mortgages, lowering mortgage payments for homeowners, giving them additional disposable income. Although expansionary monetary policy has the ability to reduce the length and severity of an economic recession, there is no guarantee it can do so. Lower interest rates, for example, may not stimulate consumer spending if consumers have little confidence in the economy. They are unlikely to increase their spending if they believe their jobs are at risk because of a sluggish economy. Businesses may be reluctant to invest in new facilities and equipment for expanded operations if the economy is in a recession. Finally, banks may be unwilling to increase their lending during a recession. Time Frame †¢Another concern about the ability of monetary policy to impact a recession is that the effects of policy decisions, such as a cut in interest rates, will not be immediately felt. It can take more than a year for the effects of lower interest rates to be felt. †¢During the 1991 and 2001 recessions, Federal Reserve policymakers repeatedly cut short-term interest rates to stimulate investment and consumer spending. It took time, however, for the effects to be felt. In 2001, for example, a series of Fed cuts reduced short-term interest rates to near zero. However, consumer uncertainty about the future, resulting from the 9/11 terrorist attacks, coupled with a  distrust of corporate accounting practices resulting from the collapse of Enron, blunted the effects of Fed efforts to expand the money supply. †¢In the end, the course of a nation’s recession is controlled by the actions of everybody living in the country. Anything influenced by so many people is beyond the control of any one person or group — it seems to have a mind of its own. But in the United States, time has proven that attitudes and economic factors shift, and every recession is a temporary recession. Eventually, things turn around and an upward spiral is reestablished. In the face of an economic collapse, the role of the government is invaluable. Governments have the power to avert an impending economic and financial disaster. 1. Encourage exports. The government should focus on the export business segment because it would infuse necessary foreign currencies into the country which would be used to pay debts, import goods and other necessities. 2. Provide Accessible Credit for Business. Local businesses should be encouraged by the government to compensate for unemployment thru extending credit to them. More businesses mean more jobs for the people. Or at least, source of income for the family. 3. Improve Tax Collection. Implement speedy and effective tax collection measures. Taxes can finance government expenditures such as provision of credit to businesses or budgets for social welfare. 4. Set Aside Large Amount Amount for Social Welfare. This will quell panic and riots and restore confidence in the people. Positive outlook will be developed in the process. This will also enable people to get back of their feet and start anew. 5. Control Expenditures in Other Fields. Slash budgets on unnecessary expenditures in other areas – military, legislative, executive, other branches. 6. Improve Tourism. Lure more tourists to the country. More tourists mean more money injected to the economy. Businesses will naturally sprout even small businesses in order to cater to the needs of these tourists. The main problem is the lack of funds as businesses closed and investors pull out their investments. The solution is to encourage the injection of money back to the country. Focus on the solution.