Financial Strategy in the Emergent Countries Essay

Financial Strategy in the Emergent Countries - Essay Example Though, despite of vital up to date developments in hypothetical and to some point experiential, phases of the macroeconomics of economical policy, contemporary analyses have until at present failed to address the key issue of what establishes a nation's financial posture. (GREGORY, John Milton, 2008) In an expression, the dilemma is that economists for the majority of the time treat monetary policy as exogenous and deem the legislator to be similar to a programmable mechanism. Awfully there is very little literature available that addresses the issues like: Even very fewer studies have adapted contemporary economical analysis to solicit the category of institutions or lawful arrangements that will assist to sustain financial restraint and uphold stabilization efforts. (GREGORY, John Milton, 2008) The conventional literature on price increases in developing countries had paid attention on three core determinants of inflationary strains which are funds generation, economic imbalances and cost-push fundamentals. (GREGORY, John Milton, 2008) While the primary two aspects have been accentuated by the authors of a monitory influence, cost factors have played a decisive role in the structuralist theories urbanized throughout the 1950s-1960s. (GREGORY, John Milton, 2008) However, the majority of the current researches on price increases and stabilization have reallocated their concentration away from conventional direct economic causes of price increases such as funds creation, in the direction of political along with institutional determinants of inflationary forces. It is necessary for developing economies to focus on the methods like cost-shifting and externalities in array to maintain the pace of GDP growth rate in the times of global recession. (GREGORY, John Milton, 2008) This paper hereby highlights the significance and effects of cost-shifting and externalities in the economies of the developing countries. Cost-Shifting and Its Impacts An imperative characteristic as illustrated in diagram 2.2 is the relation among production and reproduction work in a social order structured around funds and earnings. As reproduction job is unwaged, the capability of viable institutions to valve into it provides growth to the likelihood to save capital and trim down costs. (DAHL, Robert Alan, 1992) It is evident that in this era of globalization the demands for cost reduction and increased efficiency have escalated from business institutions constrain to endure a viable conflict to governmental drive to trim down expenditures in array to struggle with a non-existent price increases. (DAHL, Robert Alan, 1992) There are majorly duo methods to trim down costs: 1. technological change 2. Cost-shifting "Technological change" entails the preamble of latest machinery that boosts labor efficiency and accordingly permits a diminution in unit cost. In a profit-driven civilization, this technological modification usually fallout in an employment affects i.e. amplification in unemployment

Home Depot Essay Example for Free

Home Depot Essay Organizational talent is where the organization has the best of the best personnel in as its staff. This covers all the departments of the organization from subordinate staff, production staff as well as the technical staff. Having such a staff base can be advantageous to the organization in terms of efficiency and quality service delivery. The Home Depot Company is one such organization that has the very best personnel as members of its staff. According to Bullard (2010), there are a few basic tactics in which and organization can make maximum of use of its organizational talent and they are: Remove your Constant Underperformers: It is a waste of resources to pay an employee whose performance is not worthy talking about. Therefore in order to remain with employees who can perform, it is wise to get rid of the nonperformers. This is one strategy that the Home Depot uses to improve its service delivery. Bad apples: There are many obstacles that an organization encounters in the day to day running of its activities; therefore for there to be smooth running of the business, the organization should get rid of these internal and external obstacles. Hidden gems: Each organization has the â€Å"silent performer†. This is the employee who is never in the limelight but delivers the best services for the company. Discovering this employee and nurturing him through motivation is the best way that an organization can use to ensure that the organizations talent is maximized. High-quality outside hires: Short term outsourcing can be beneficial for the company especially in technical areas. The human resource department should always be on the look out for those potential employees who can add value to the business and hire them when need arises. The Home Depot as an international brand intends to use the following management techniques to gain a competitive advantage in the Do It Yourself industry (Hewitt, 2007). Performance Management: The performance management allows the company to evaluate the individual performance of its employees and as such it can able to tell which employee fits in which department and how to ensure they deliver the best service for the company. Compensation Management: Nothing can be more motivation an employee as being rewarded for good performance. The Home Depot Company is one such company that ensures that its best performers are recognized and rewarded. This gives them more moral to perform and deliver quality work for the company. Learning Management: Employee training forums help them to be able to learn about new production as well as sales and marketing and as such they can be able to diversify and produce more quality goods. The Home Depot intends to use this management feature to ensure that their staffs especially in the production sector are well trained and conversant with the latest market trends and designs. Social Networking: Social networking can also be referred to as team building, even thou this concept is not new at the Home Depot company, it seeks to improve it and come up with diverse methods of networking and team building. Discuss the Key Channels that Home Depot Developed for Recruiting Talent By recruiting talent, the Home Depot has been able to build the following key basic channels of organization management as well as customer relationship management. The Home Depot has been able to discover capabilities that can be used to determine the success of the customer experience as well as the customer relationship management (Hewitt, 2007). Some of the capabilities include the design and implementation of viable customer relationship management (CRM). This will be used to ensure that clients’ needs are well taken care of. Another key channel that the Home Depot developed by recruiting talent is that it has been able to determine the most productive channel for each department. This has ensured that the level of production in the organization is on steady upward progress in each and every department (Hewitt, 2007). The last key channel of development that the Home Depot develops by talent recruit is that it has been able to build a mutual relationship between itself and its various business partners and associates. This has helped it to ensure that there is smooth running of businesses it the various franchises that it operates in and outside America. Discuss the Critical Programs used by Home Depot to Keep Talent in their Pipeline  The Home Depot has put in place a few programs / strategies that are meant to ensure that the staff it hires are not tempted to jump ship and search for greener pastures but they stay committed to their work. For the new recruits, they are first guided on the various functions of the department they will assigned to, after which they are given a challenge to undertake (Hewitt, 2007). The talent will feel â€Å"empowered† by the challenge given to him / her and will strive to deliver the best, however the management is always on the standby to ensure that they are given any support that they may require. In addition to that, the skilled talents are allowed to try out a variety of roles before they can be advised on the best carrier choice to take. Finally the talents are given an opportunity to try out new innovations and ideas that they might have, by so doing the talents will feel appreciated and as such it will hard for them to leave the organization (Hewitt, 2007). Discuss Three Lessons Learned by Home Depot related to Talent Management. Some of the lessons that the Home Depot learned in relation to talent management are: Investing in talent, give programs time to work, listen and respond to naysayers. Listen and Respond to Naysayers: In every organization, there is always positive and negative criticism coming in from all quarters. The Home Depot has learnt to use the public relation skills by always giving a positive and promising feed back to any criticism that is raise against it. In so doing the company has been able to draw admirers from different regions of the world. Youth Investment: The youths can be used to determine the future of an organization, this is because of their willingness to work, learn and deliver. The youths are also innovative and filled with creative ideas. The Home Depot extensively invests in the youths in all sectors and departments. The youth are then given the responsibility of delivering quality serviced for the organization. Time: The rush by most organizations to have instant results is what makes the programs the implement fail, however when it comes to Home Depot, it has learnt to give time for the programs it implements to develop, mature before the results trickle in. y so doing, the company has been able to reap maximum inputs from the output it gives. Summation / Conclusion The Home Depot Company is a sure that with good planning and implementation, any business can grow into an empire in the shortest time possible. In addition to that investing in youth talent is another way for a company to expand rapidly. The Home Depot should spread its customer base to other untapped market like Africa where there is a lot of potential.

Boewulf :: Boewulf Essays

Boewulf The section entitled "Further Celebration at Heorot" opens after Boewulf has slain Grendel's mother. This becomes acceptable adult behavior when you realize that Grendel and his mother are both monsters from the same evil metal. Beowulf has returned to King Hrothgar's beautiful Heorot Hall to celebrate his victory over evil Grendel. Beowulf's boasts illuminate his heroic deeds. His crowing declares the mead hall now safe for all the thanes to drink in once again. Hrothgar, the honorable king of the Danes, is grateful for the monster's slaughter that Beowulf has done but is also reflective. Drawing on the experiences of a long life, he confides in Beowulf that he should not be quite so full of himself. He states: "Keep yourself against that wickedness, beloved Beowulf, best of men, and choose better-eternal gains. Have no care for pride, great warrior. Now for a time there is glory in your might: yet soon it shall be that sickness or sword will diminish your strength, or fire's fangs, or flood's surge, or sword's swing, or spear's flight, or appalling age; brightness of eyes will fail and glow dark; then it shall be that death will overcome you, warrior." Hrothgar is a wise and noble king. He is much older than Beowulf and sees much of his former self in the young warrior. Having lived and learned many lessons from the thousands of experiences that Beowulf has yet to face, with great affection for Hygelac's thane, Hrothgar tries to use his wisdom to help and Beowulf on the difficult road ahead. To illustrate his point, Hrothgar recounts the story of Heremod, a miserably notorious king, who stayed from the codes and procedures of that warrior caste. The evil one's main failure was a lack of respect for his people. As Hrothgar explains, "He grew great, not for their joy, but for their slaughter." Not only did Heremod fail to share a portion of the wealth and power that God has given him with his loyal retainers. he performed the most heinous of crimes, the killing of his own clansman. In the end, this king, having failed to live a just life, had few friends and died unhappy. Then his people, without longing for their departed king, advanced someone else to the office. Beowulf does not have any fear that Hrothgar's vision is in his future. He is confident of his amazing courage. His states, "Sometimes fate can save the undoomed man if his courage is good.

Mrs. Mallards Reflections on Life in Kate Chopin’s “The Story of an Ho

Anyone who receives notice of a loved ones death is never expected to take it lightly. In Kate Chopin’s â€Å"The Story of an Hour,† Mrs. Mallard is informed of her husbands â€Å"death† as gently as possible, and immediately she understands the enormous significance this loss will have on her life. Unlike many widow’s, her feelings of utter devastation do not last. Mrs. Mallard’s sobs of loss turn to cries of joy after she reflects upon her own character and discovers truths about her marriage. As any woman would, Mrs. Mallard initially â€Å"wept at once, with sudden, wild abandonment,† (227) at the news of her husband’s death. Her weeping almost seems forced as Mrs. Mallard’s true character is revealed later on. She is described as â€Å"young, with a fair, calm face, whose lines bespoke repression and even a certain strength† (227). Though Mrs. Mallard is still youthful, she has much more knowledge, and personal strength than others her age possess. Her extended knowledge and experience leads to realization of the position her husband’s death has put her in, and that this death might actually bett...

The Trilemma of Globalisation: Free Trade, Fair Trade or Fear Trade

Ken Costa Chairman: Europe, Middle East and Africa UBS Investment Banking Department 2 Finsbury Avenue London EC2M 2PP Cass Business School 2 March 2006 EMBARGO UNTIL 19:30pm 2 March 2006 The Trilemma of Globalisation: Free Trade, Fair Trade or Fear Trade In discussing the challenges presented by today’s diverse global environment few topics can be as important as the issue of globalisation. It is at the heart of the structural change that has taken place in our generation as borders have shrunk, technology changed and communications enhanced.Economists believe – almost universally, which says something(! ) that globalisation is a net benefit. But, if recent examples are to go by, there seems to be a growing doubt gnawing at its foundation. Globalisation faces a trilemma. Which is to be master? Free Trade, Fair Trade or Fear Trade. Free Trade For globalisation to succeed there needs to be a common acceptance of the frictionless flow of capital across borders and the det ermination to eliminate 2 impediments to the free movement of resources and products. Free trade is the pillar on which the argument for globalisation is founded.For the last decade we have lived with the prevailing sense that the globalised environment is here to stay. There has of course been a vigorous debate about how the benefits should be shared, the implications of the growing technology divide and the sustainability of regional development. But by and large the foundations have been in place. What has become disquieting recently has been the realisation that some of the most basic premises of globalisation are far from secure. The case for globalisation still has to be made. Globalisation still needs to be nurtured as a beneficial system and hown to be demonstrably favourable to all participants in the global market place. This is an argument that needs to be advanced and argued for and can not merely be assumed. Fear Trade But free trade seems to have been supplanted by fea r trade. The recent actions in the United States to prevent the completion of the acquisition by the Dubai Ports World of the US ports previously owned by P&O underlines the serious challenge to the argument. Here we have the US, the major exemplar of modern capitalism, wishing to restrict the take-over by one foreign company of another foreign company with operations in the United States.This action is unfortunately not an isolated example, it comes sharply on the heels of the decision to prevent CNOC, a Chinese company, from acquiring Unocal in the US. The ports case has become a testing place for the future direction of globalization. At issue is ownership. There are after all in any market regulations that govern ways in which corporations 3 act. In any event these ports will overwhelmingly be run by and managed, as they have been in the previous foreign owners’ hands, by US citizens. Of course there are arguments for national security.That would be true in any country. B ut it is of deep concern when these concerns are deployed selectively discriminating between one foreign owner and another. Friends of the United States, and I count myself as one, will do the country the highest favour by lobbying actively against these barriers. Not only on their merits but also because of the sign that is given. Free trade flourishes in a climate of reciprocal openness and mutual advantage, fear trade now seems to be an underlying assumption lurking not only in this decision in the United States but in other countries as well.Security, national interest, cultural preservation and other nationalist reactions can easily stoke these fears. Italy have complained about protectionist activities within the European Union, but recently, albeit unsuccessfully, Italy attempted to prevent nonItalian acquisitions of domestic banks. In France, the Prime Minister has attacked â€Å"fragmented share capital† as being a risk to independence and is looking to bolster the b arriers to takeover activity in France. These trends will grow if the strongest and freest markets continue to act in a protectionist way.Those committed to developing sustainable and responsible flows of capital worldwide have a full task to remain vigilant to promote vigorously the need to have a competitive and sustainable global economic order. 4 All participants in the global economy, Government, business, consumers, will need to find a common language to prevent misunderstanding and actions that could easily lead to disastrous protectionist decisions similar to those in 1914 or the 1930’s. Protection can grow rapidly fuelled by job losses, eroding cultural influence, security concerns and ultimately the visceral reaction against foreigners.The openness of markets to trade and to the acquisition of assets lies at the centre of the future prosperity for all. There are risks if this protectionism grows unchecked. Inflation will creep back because the benefits of globalisat ion will not be felt, interest rates will therefore inevitably hedge higher with a sell-off in the bond markets, pressure on the equity markets and the inevitable liquidity problems could lead to capital controls. A dark scenario and one which I believe is avoidable.But it does require a concerted effort to win both the economic argument but also the ethical ones. Fair Trade Fair trade has therefore emerged in the debate. Unfortunately the concept seems to have been colonised by particular single interest lobby groups seeking to address for example levels of sub-economic activity in Africa and arguing for an increase in the price structure of consumer goods in the developed world. In the end the fairest trade will still be the freest provided the benefits are seen to be shared equitably.Globalised markets have to, and above all be seen to, benefit all: the strongest and the weakest. When the strong economies wish to exclude access to them by emerging economies the very base of the a rgument is eroded. For this reason, and in a different 5 sphere it remains a moral affront to those who are committed to future global prosperity that the WTO is unable to reach agreement to allow access, without the burden of duties, by the developing world to the markets of the economically prosperous world.The diverse global environment raises questions of standards and sustainability of economic activity. These are moral issues. They should be tackled as such. But that does not mean that they are not economic ones too. Take for example one of the questions that is posed by globalisation. Is the move away from regulated markets to unregulated ones simply a means of avoiding the high hurdles of regulation in the developed world? Take the tobacco industry for instance.Do the global tobacco companies seeking entrance into new markets do so in order to evade the onerous restrictions of the major OECD markets? Similarly polluting factories in third world countries where the desire for employment places pressure on local governments to allow activities which would be frowned on in the home countries of multi-national corporations. Low labour costs have brought huge advantages to consumers in the Western world but at what cost to the emerging markets in which they operate?But the moral debate is not a one way street. The clash of civilisations was a debate in ancient Rome and Greece long before Huntingdon raised the topic, but globalisation now means that people find out much more about each others’ cultures much more rapidly. It is true that many international corporations have seen their numerators expand as the top line has grown through sales to emerging markets. Similarly, the 6 denominators of the P & L have benefitted as costs have shrunk through outsourcing and manufacturing at lower costs.But on the other hand many emerging markets have also benefitted as their standards of living have increased and transparency has grown. If we wish to make povert y history and I profoundly hope that this objective remains at the forefront of every global citizen then it will come about by working with the grain of capital flows, by recognizing the reward for risk and through supportive actions by Government creating the climate for enterprise to flourish. We work on the natural assumption that it is a good thing to understand each other’s cultures, aspirations and diversity.However we do have to work on one unfortunate fact of human life. It is not good news but bad news that travels fastest. The Danish cartoon incidents and the activities of radical minorities are flashed across our screens and soon become representative of the cultures being depicted. Every global business will need to develop the necessary training programmes not only to enable the free flow of information to work effectively but to determine how globalising information could bring together incompatible elements of culture.Essentially this is a political question à ¢â‚¬â€œ how can free speech and cultural sensitivities be reconciled? But ultimately it will be on the ground an important issue for businesses who try to create core values for global workforces. Will education of itself lead to greater tolerance? This is a topic too large for this address. But suffice it to say that education and prosperity will not of themselves eliminate global tensions though they are essential pre-requisites. 7 8 Diversity Diversity is important to this process.Diversity enhances competitiveness enabling the most innovative, creative solutions to be advanced as perspectives, eclectically drawn across cultures, countries, products, markets are pooled to provide answers to the issues of the day. For example, UBS needs talented people who can efficiently and effectively work across multiple cultures and time zones. Diversity is therefore not an issue merely of gender or ethnicity but it reflects an open and flexible culture which tries to understand the motivatio ns and aspirations of different people and their points of view.These dialogues above all are integrated into the day to day operations of the firm. To respond to the pressures and to come up with innovative solutions requires close co-operation and the working together of a very disparate group of people with a very common set of values and a common desire to understand and appreciate the ways in which common goals can be achieved whilst recognising diverse and local aspirations. There is I believe an even more fundamental issue that will require addressing. There is strong evidence that in a young and mobile workforce material satisfaction is not sufficient to retain their commitment and motivation.There is a deep hunger, almost spiritual, that is diffused and not traditionally expressed but which needs addressing. There is a desire among young people across the globe that there is more to life than the pursuit of material prosperity. Concern for the environment, for just practice s in the workplace and for a balanced working life are key themes in this emerging generation. Traditionally this has been a â€Å"no go† area. After all religion and work do not mix. But any desire for a values-based organisation will require 9 careful attention to be given to a much deeper understanding and respect for he religious beliefs, cultural and spiritual aspirations of this new global workforce. A new dialogue of understanding faith in business space is rapidly becoming a global imperative for business. Securities Industry Having made these general remarks it is worth looking at trends in the financial industry. ?Expansion of the Business: Financial sector activities are likely to experience substantial growth over the next decade. Two reasons can be singled out: Deregulation and liberalization mainly in emerging markets, and wealth accumulation and retirement provisioning all over the world. Over the past few decades, the trend towards deregulation and liberalizat ion in financial services has contributed significantly to the industry’s expansion. This process is well advanced in many countries, mainly in the mature markets, but further liberalization is, however, likely in emerging market countries where domestic markets are still highly protected. In general, further liberalization of financial markets is expected to benefit investment banking and securities firms which are positioned to 10 ake advantage of any further opening of individual domestic capital markets. Global asset managers could benefit from the facilitation of cross-border mutual fund business, and possibly from a trend towards harmonized pension fund regulation. †¢ Especially in mature markets, but basically to a global extent, financial sector activities are also likely to gain further importance, mainly due to two trends: On the one hand, wealth accumulation is likely to increase as a result of the shift from labour-intensive production to more capital-intensi ve activities.We see a clear secular trend towards wealth accumulation that is likely to continue over the next decade. On the other hand, the fact that in the coming decades, most developed countries will be confronted with significant demographic shifts leads to a trend that pension reform is on the agenda of many governments around the world. Although each country will follow its own regulatory agenda, we believe a gradual shift from public unfunded to private funded pension schemes is likely to take place. Institutional asset management will be the sector most impacted by this trend. ?Increasing Diversity of the Business: Financial market products are getting increasingly diverse and sophisticated with the main characteristics being securitisation, equitisation, and corporate restructuring. 11 †¢ The transformation of financial services over the last years has been driven primarily by the increasing de-emphasis of traditional lending activities combined with the increasing importance of securities trading and financial markets. Corporations are frequently in a position to directly finance their funding needs by accessing the capital markets, expanding corporate bond markets.At the same time, an increase in bank assets has fueled growth in the securitisation of these assets. We expect these trends to continue, as increasing transparency will further facility financing by way of the securities market. †¢ Despite the bursting of the new economy bubble, the underlying trend towards an increasing role of equity finance and equity investments remains intact. Institutional and individual market participants will tend to invest a greater share of their assets into equity products and the corporate sector will increasingly rely on equity financing. We see long-term secular trends pointing towards an ongoing demand for advice on corporate restructuring, as trade liberalization and technological progress will increase global competition for corporations, pr essuring them in turn to restructure and consolidate their business.At the same time, cross-border consolidation in some industries has just begun. ? Further internationalization of business and new markets: It is crucial for financial sector firms to have at the same time both a strong 12 footprint in mature markets and expand actively into emerging markets. Economic growth is a key indicator of the potential for financial services in different regional markets. We expect the largest absolute GDP increase over the next 10 years to occur in North America, followed by Asia and Western Europe. Even though North America is set to grow at a slower rate than Asia, the absolute GDP increase will be higher. This demonstrates the importance of having a significant presence in the US and other mature markets. †¢ At the same time, emerging markets, especially emerging Asia, have a huge potential.GDP growth in China averaged more than 9% since 1979, and India is on track to achieve a high sustainable growth path in the foreseeable future. Other markets in the region are benefiting from the increased demand in the region and globally, increasing the attractiveness for global financial firms. Another important emerging area is the Gulf region, driven by sky-high oil prices and some first steps towards a further diversification of the countries’ economic structure. Based on remarkable macroeconomic stablisation efforts in recent years, Latin America finally seems to have overcome its historical volatility, providing interesting nvestment opportunities. 13 ? Alternative Asset Managers: Hedge funds and buyout groups are raising ever increasing sums of money to be deployed principally cross border. The current size of the hedge fund market is estimated at US$ 1. 2 trillion and will expand significantly in the years ahead. Highly liquid and mobile capital should not be seen as restless capital. Opportunities for long term foreign direct investments in the emerging m arkets continue to grow as infrastructure projects absorb capital and new investment opportunities allow for petro dollars and other pools of investment funds to help grow these economies. ChallengesAn international presence in diverse global environment creates substantial challenges. Global firms have to integrate diverse cultures, strike the balance between global reach and local presence, match the structure and characteristics of its international workforce with functional and regional business needs, and establish infrastructure and processes to provide global communication and co-operation means. ? Integrating cultural diversity: A global firm’s clients and employees are generally, at least to a significant extent, not global in their nature and characteristics, but are based and anchored in their respective home countries.This determines a broad variability of cultural and religious habits, business styles and customs, and consumptions models and needs a global firm i s confronted with on a day by day 14 basis. In order to achieve long-term profitability and growth, this variability has to be managed and integrated into the firm. ? Striking the balance between global reach and local presence: In order to be perceived as a global player, global firms have to establish a global strategy and business model.At the same time, due to the cultural diversity mentioned above, specific market and customer orientation has to be focused along country-specific needs. This is true for the products offered to the customers, the communication employed to establish and strengthen links with clients and stakeholders, and for every other interaction between the firm and the outside (local) world. ? Finding and strengthening a diversified workforce: Especially in the area of service providers, well-skilled staff is crucial for the long-term success of the company. International mobility and intercultural skills have to be ade core value of every corporate culture. T herefore, human capital management and attracting best people is crucial, especially as the international competition for skilled workforce becomes harder and more intense. Especially in the financial sector, specialist knowledge is required and decides on success in a specific region or business area. Hence, if companies wants to achieve continuous success, it has to establish internal talent development and management processes to ensure that employees are promoted in their personal and professional development.To distinguish itself from its competitors, firms have to offer their staff unique development opportunities, thereby attracting current and future leaders. 15 ? Managing critical resources: Internal processes, corporate communication and IT face considerable challenges in a diverse global environment. As such, it is challenging to guarantee a consistent appearance in terms of brand, strategy and communication. In addition, doing business all over the world is especially ch allenging for the IT infrastructure and for know-how sharing on a global level. Yet, this offers economies of scale and synergies at the same time, e. g. y streamlining the brand and the public appearance, by having one integrated IT and know-how sharing platform and by reviewing internal processes re duplications, potential for improvements inefficiency and for streamlining and simplifying processes. UBS manages these challenges and makes them opportunities ? One Firm: We firmly believe our integrated business model creates more value than our businesses would as stand-alone units. Our clients all over the globe should effortlessly be able to access all the services our firm can provide, where and when they are required, and regardless of what combinations of teams lie behind the solutions.This â€Å"one firm† approach facilitates cross-selling through client referrals and the exchange of produces and distribution services between businesses and thus contributes significantl y to our revenue flows. The integrated business model and our â€Å"one firm† approach enable us to combine global reach with local sensitivity. 16 ? Innovative products: As one of the leading global financial services groups, UBS actively shapes the future development of financial markets.As such, challenges emerging from today’s diverse global environment are converted into opportunities by meeting emerging cultural and business needs with innovative products tailored to specific cultural requirements. Another example is the growing importance of hedge funds on international financial markets, where UBS offers products and services specifically targeted at these clients. ? Managing and promoting diversity: †¢ To UBS, diversity means recognizing and appreciating multiple backgrounds, cultures, and perspectives within its organisation.UBS builds on these differences to produce cross-cultural teams that generate new ideas and creative solutions for our increasingly diverse clients. †¢ Diversity consists of a broad range of aspects that vary in their degree of visibility going from gender over ethnicity, age, disability, sexual orientation, religion, nationality to though. †¢ In addition, senior management takes the topic seriously and is often participating in meetings and employee forums on the topic. ? Corporate Social Responsibility: UBS makes responsible behavior an important part of its culture, identity and business practice. As a 7 leading global financial services firm, UBS wants to provide our clients with value-added products and services, promote a corporate culture that adheres to the highest ethical standards, and generate superior but sustainable returns for our shareholders. In order to retain the trust society gives to UBS, UBS conducts its business responsibly and at the same time engages in the communities that it is part of. Socially Responsible Investments In additional to financial considerations, UBS provides e xpertise in incorporating environmental and social aspects into our research and environmental activities.Advice on social investments not only have to take into account financial considerations but also environment, social and ethical criteria. Human Resources To remain at the cutting edge of the rapid changes in the diverse global economy requires an enormous investment in leadership training talent management and attention to cultivating an environment within which entrepreneurial spirit can flourish. The handling of outsourcing, one of the most dynamic developments in the global economy, has become an important part of the HR process. It emains a challenge when developing outsourcing plans to minimize the impact on existing employees, to plan the transition with meticulous 18 execution and to ensure that the benefits are understood and communicated well before the plans inevitably leak out. Managing declining morale and performance of remaining employees is vital as they often s uffer anxiety, envy and a last gasp of invigorated competitiveness. Any outsourcing activity is a time of upheaval and it is important therefore to underline not only what is changing but also what is not.Conclusion Let me conclude by saying that global organizations face an unprecedented opportunity to grow their worldwide businesses. With this comes increased prosperity and therefore the need to ensure the attractions of globalisation are well understood by all participants; that the benefits of increased profitability are seen to be in the interests of all stakeholders not only the shareholders; and that the barriers to the flows of capital are removed as often as they are erected. Fear trade has no place in a fair and free globalised world.

Influences Of Practice Example

Influences Of Practice Example Influences Of Practice – Coursework Example Influence of practice Diagnosis and Treatment Planning This is the process of using critical thinking to make a decision on which type of information that is obtained from the clinical examination and history of the patients are very pertinent (Reber & Berger, 2006). These pertinent information are then organized into a concise list of clinical problems. The list of the clinical problems is then organized according to the order of their priority then they are matched with an appropriate treatment in the context of the individual health records of the patientsTreatment plan begins as soon as the initial assessment of the patient is complete. This plan will act as the road map that the patient will have to follow all through his or her treatment. The best treatment plan should follow the patients for at least 5 years because this is the point when the lapse rate has fallen up to around zero level. Treatment is built around the problem set that is brought for treatment by the patients. The plan tells the staff the role the patient will play in when undertaking treatment (Barsky, 2015). The plan must take into account both the behavioural and physical problems that are relevant to the care of the patient as well as the strengths and weaknesses of the patients. The treatment plan gives the therapeutic interventions that describes what is going to be done and by who. It considers all the needs of the patients and come up with clear means of dealing with each of the problem. The plan follows the discharge planning which starts with the initial assessment of the patients.ReferencesReber, B. H., & Berger, B. K. (2006). Finding influence: Examining the role of influence in public relations practice. Journal of Communication Management, 10(3), 235-249. Barsky A. (2015). Ethics Alive! The NASW Code of Ethics and Other Social Work Obligations. White Hat Communications p. 112-34

Fisher Body Essays

Fisher Body Essays Fisher Body Essay Fisher Body Essay The initial relationship between Fisher Body, a producer of auto bodies, and General Motors was a long-term contract of ten years. Such contract agreed that GM would only purchase its metal bodies from Fisher body with a price formula set to equal Fisher Bodys variable cost plus 17. 6 percent. (Klein 1998: 241) One would then ask why this was necessary since it restricted GM from being able to switch to other partners and use the market as its efficient government structure? The answer lies on specific investments. In order to produce metal bodies for GM, Fisher Body had to invest in very specific pieces of equipment that meant they could not have been able to use the same stamping machine to supply other automobile manufacturer. Once Fisher Body had made its specific investments, General Motors could have threatened Fisher Body in switching suppliers of its bodies unless they reduced its prices. (Klein 1998: 241) Fearing this hold-up problem was the attempt to draw up a contract before any such investments were to be made so to reduce both parties from behaving opportunistically. However according to Masten (1996: 388), as transactions become more complex and the environment more uncertain, the limitations of contracting as a safeguard against opportunism grow. An unforeseen substantial increase in demand for closed metal automobiles in 1920 allowed Fisher Body to hold up General Motors by taking advantage of the contractual incompleteness (Klein 1998: 241). : By adopting a highly labour-intensive production-process and locating their plant far away from General Motors production facilities, Fisher Body was able to inflate its variable costs and placed a 17. 6 percent surcharge on their transportation costs. (Klein 1998: 42) But by exploiting loopholes in the contract, the hold-up by Fisher Body had proved to be very costly for General Motors. This would not have been the case if the changes in market conditions were anticipated since GM would obviously have include such contingency in its contract. In 1926, General Motors decided to integrate its transactions by acquiring Fisher Body. According to Williamson this was logical because where the three critical dimensions of transactions (Masten 1996: 390) namely: frequency, degree of uncertainty, and asset specificity was present, the most efficient government structure emerged, this being vertical integration. Where GM integrated backwards in their supply chain in order to internalise transactions within one organisational structure, markets and hierarchies represent alternative government structures. If General Motors assets were non-specific, then they could have purchased its assets through a normal market relationship based on relevant prices. But as we can see with such market structure, it poses the possibility for agents to act opportunistically. With GM and Fisher Body, we see the emergence of a vertically integrated firm as an efficient response to the transaction cost associated with market-type coordination. Therefore, by adopting Transaction Cost Economics as a way of analysing organisations we can predict that vertical integration hierarchies will take place within an industry, like that of Fisher Body and General Motors, through the present of these three distinct dimensions1: i) the frequency of a transaction, ii) the uncertainty surrounding the transaction and iii) the level of asset specificity associated with the transaction. However, the predictive validity of Transaction Cost Economics in an attempt to explain the Fisher-GM case study has been closely scrutinized when comparing the hold-up with Williamsons behavioural assumption of opportunism. In Kleins account of the hold-up problem between Fisher Body and GM, he proposes that explanations of hold-up behaviour based upon transactors deception are often clearly inconsistent, in which there was no real evidence of any precontract deception on either contractors part. (1998: 224) Both parties were aware of the possibilities of a hold-up due to the incomplete contracts they entered into yet they believed it would have been more costly to write a more complete contract covering every possible angle. (Klein 1998: 224) If both parties were to cover every contract criteria and contingency then not only would that be timely to write down, but also costly in having the need to inform, confer and verify with each other continuously. And if we add the concept of bounded rationality, a complete contract is likely to be unrealistic because contractors simply cannot determine all of the many events that might occur during the life of a contractual relationship and write a prespecified response to each. (Klein 1998: 242) As a result we can see that the contract between the two parties was, to some extent, infused by trust so that the costs of negotiating, writing and monitoring the contract could be economised. Hence, trust economises on transaction costs. (Todd 1996: 88) Transaction Cost Economics behavioural assumptions offered by Williamson neglected this important aspect of trust. The statement made by Williamson that agents are self-interest seeking with guile (Williamson, p554) therefore does not necessarily justify why GM had accepted such an imperfect and incomplete contract with Fisher Body. Where Fisher Body and GM had entered into a long-term contract, the role of trust rather than opportunism, can in fact alter the choice of government structure. (Todd 1996: 88) In his revisited paper in 2006, Coase makes a similar argument when he points out that the contractual arrangements and working relationship prior to the 1926 merger exhibit trust rather than opportunism.

Free Essays on Jesus

Jesus’ parables will always be a wonderful way to get a point across to a crowd. They make the lesson or message more personable and help the relate the point more closely to their own life. Neil Lightfoot states eloquently when he says: The parables of Jesus will always remain the very center and heart of the teachings of Christ. They summarize what Jesus taught and lived. They tell us what the good life is, what the real values of life are. They speak to man, and bind principles upon him, in terms he can understand. They are plain practical lessons for all ages, even are they depict a religion that is designed for all men. The parables that appear only in Luke all make very important points that would be lost if the gentile physician did not record them. We can gain so much from the following stories that would be lost otherwise. The parable of the Good Samaritan appears in Luke 10:25-37. The parable involves a lawyer asking Jesus how to inherit eternal life. When Jesus catches the lawyer in his own game by asking him his knowledge of the law, the lawyer again tries to corner him by asking for a definition of neighbor. Jesus then tells the story of a man who falls into thieves and is ignored by a priest and a Levite. He finally receives aid from a Samaritan who takes him to an inn and finances his recovery (The Holy Bible). The first two travelers knew of God’s unending love for man. The priest and the Levite both had dealings with God and his teachings on a day to day basis. Despite this exposure to God’s love they had not learned how to live their lives as God wanted them to. The significance of the third traveler who finally helped the man in need was the fact that the Samaritan race was scorned by other races because they were comprised of Israelites that had married with foreigners. These feelings of animosity had reached a peak when the Samaritans had offered help to the Jews in building a temple on Mt.... Free Essays on Jesus Free Essays on Jesus Jesus’ parables will always be a wonderful way to get a point across to a crowd. They make the lesson or message more personable and help the relate the point more closely to their own life. Neil Lightfoot states eloquently when he says: The parables of Jesus will always remain the very center and heart of the teachings of Christ. They summarize what Jesus taught and lived. They tell us what the good life is, what the real values of life are. They speak to man, and bind principles upon him, in terms he can understand. They are plain practical lessons for all ages, even are they depict a religion that is designed for all men. The parables that appear only in Luke all make very important points that would be lost if the gentile physician did not record them. We can gain so much from the following stories that would be lost otherwise. The parable of the Good Samaritan appears in Luke 10:25-37. The parable involves a lawyer asking Jesus how to inherit eternal life. When Jesus catches the lawyer in his own game by asking him his knowledge of the law, the lawyer again tries to corner him by asking for a definition of neighbor. Jesus then tells the story of a man who falls into thieves and is ignored by a priest and a Levite. He finally receives aid from a Samaritan who takes him to an inn and finances his recovery (The Holy Bible). The first two travelers knew of God’s unending love for man. The priest and the Levite both had dealings with God and his teachings on a day to day basis. Despite this exposure to God’s love they had not learned how to live their lives as God wanted them to. The significance of the third traveler who finally helped the man in need was the fact that the Samaritan race was scorned by other races because they were comprised of Israelites that had married with foreigners. These feelings of animosity had reached a peak when the Samaritans had offered help to the Jews in building a temple on Mt.... Free Essays on Jesus Hundreds of years before Jesus' birth, the Old Testament of the Bible recorded the words of the prophets of Israel predicting His coming. The Old Testament, written by many people over a period of 1,500 years, contains more than 300 prophecies describing His appearance. All of these details came true, including his miraculous birth, His sinless life, His many miracles, His death and His resurrection. The life Jesus led, the miracles He did, the words He spoke, His death on the cross, His resurrection, His ascent to heaven - all point to the fact that He was not merely man, but more than man. Jesus claimed, I and the Father are one (John 10:30), He who has seen me has seen the Father (John 14:9), and I am the way, and the truth, and the life; no one comes to the Father except through Me. (John 14:6). As we study Scripture and the life of Jesus, we realize that his life purpose and message change. Jesus was born in Bethlehem in Judea, in the south of Palestine. He grew up in a very or dinary town, named Nazareth, located in Galilee, which was in the north of Palestine. Jesus was a carpenter, but at the age of 30, He became a religious teacher, moving from town to town. In Luke 4:14-22, we read what happened when Jesus began teaching. He went to the synagogue, which was the local place of worship. Although He probably had no more religious education than the average Jewish man, people wanted to hear Him. He was asked to speak at the synagogue in Looking at the life and influence of Jesus of Nazareth throughout history and you will see that Jesus Christ was in fact the living Son of God. Jesus and His message always produce great changes in the lives of men and of nations. Wherever His teachings and influence have gone, the holiness has flowed. He has been a major influence in my life. Through my personal relationship with Jesus, I have been able to change my life for the better. I talk with him on a normal basis. I look to him for guidan... Free Essays on Jesus Jesus There has never been a man like Jesus. He is considered to be the most unique person of all time. Jesus’ teachings have influenced many people and have changed mankind. According to Marcus J. Borg in Meeting Jesus Again for the First Time, Jesus was in a way four different people fused into one. He was a spirit person, which is a person with a deep unexplainable connection with the spirit of God. Jesus was a teacher of wisdom. He used parables and one-liners to teach about the Kingdom of God. These parables and aphorisms are the only direct connection we have with the historical Jesus. We get to read what came from him directly and we get a better sense of whom he really was. Borg also describes Him as a social prophet, which is characterized as a person that has conflicts with authority, that criticizes the elites of his time, and that promoted a different â€Å"social vision.† The last identity that Borg gives Jesus is that of a movement founder. He started a renew al movement ! for Judaism that went past the social barriers of his time. We do not know much about Jesus until he was about thirty years old. We do however know that Jesus was a Jew, which is surprisingly not known by quite a few Christians. He grew up in Galilee and spoke Aramaic, or Hebrew. The Torah was his primary reading in school and he probably became a tekton, a Greek word that means carpenter. Borg explains that Jesus probably went to follow a prophet named John, but when John was arrested he carried on with God’s Word. The historical Jesus was nonmessiac, which means that we do not know if He thought of himself as the Messiah or the Son of God. His message always pointed away from Himself and towards God. Borg give some major impressions of Jesus and what kind of a person he was. For example, Jesus was a right and left-brained thinker. He was an eloquent speaker that was great at debate and story telling. Jesus was not always liked. People would tr... Free Essays on Jesus Jesus There has never been a man like Jesus. He is considered to be the most unique person of all time. Jesus’ teachings have influenced many people and have changed mankind. According to Marcus J. Borg in Meeting Jesus Again for the First Time, Jesus was in a way four different people fused into one. He was a spirit person, which is a person with a deep unexplainable connection with the spirit of God. Jesus was a teacher of wisdom. He used parables and one-liners to teach about the Kingdom of God. These parables and aphorisms are the only direct connection we have with the historical Jesus. We get to read what came from him directly and we get a better sense of whom he really was. Borg also describes Him as a social prophet, which is characterized as a person that has conflicts with authority, that criticizes the elites of his time, and that promoted a different â€Å"social vision.† The last identity that Borg gives Jesus is that of a movement founder. He started a renewal movement for Judaism that went past the social barriers of his time. We do not know much about Jesus until he was about thirty years old. We do however know that Jesus was a Jew, which is surprisingly not known by quite a few Christians. He grew up in Galilee and spoke Aramaic, or Hebrew. The Torah was his primary reading in school and he probably became a tekton, a Greek word that means carpenter. Borg explains that Jesus probably went to follow a prophet named John, but when John was arrested he carried on with God’s Word. The historical Jesus was nonmessiac, which means that we do not know if He thought of himself as the Messiah or the Son of God. His message always pointed away from Himself and towards God. Borg give some major impressions of Jesus and what kind of a person he was. For example, Jesus was a right and left-brained thinker. He was an eloquent speaker that was great at debate and story telling. Jesus was not always liked....

Explain how Machiavelli's discussion of virtue (virtu) in The Prince Essay

Explain how Machiavelli's discussion of virtue (virtu) in The Prince differs from that of the ancients like Plato and Cicero. Give examples - Essay Example It is immoral and unethical, maintains Plato, for a ruler to rule solely by might. Machiavelli has stated, ""A Prince, therefore should have no care or thought but for war, and the regulations and training it requires, and should apply himself exclusively to this as his peculiar province; for war is the sole art looked for in one who rules" (Machiavelli, P. 70)." Therefore, it is clear that Machiavelli's idea of virtu' is not one that is based on moral character, but rather, based on utility. For Machiavelli, virtu' outweighs morality when the needs of the situation demands it; for Plato, one must preserve morality at all times. Plato believes in utopian ideals and propositions; Machiavelli, was a realist. Cicero, on the other hand, maintains that there was no distinction between that which was morally good and what was useful to man. His concept of duty is directly opposite the concept of duty as forwarded by Machiavelli. Cicero believed that pleasure may be enjoyed by man, but that there is a right and moral way to enjoy pleasure. For example, sex is an enjoyable activity and may thus be engaged in by man, but it is wrong to have sex with another man's wife. To quote from Cicero, "Virtue is a habit of the mind, consistent with nature and moderation and reason." Even their concepts of government are markedly different. Machiavelli would be wont to argue for the top-down approach, i.e., a good ruler is essential, a ruler who must be feared, more than loved. Cicero, on the other hand, believes that people should work together for the betterment of the community. Hence, he espouses a bottom-top approach. Describe the role of virtue in friendship, according to Cicero. Cicero's work, "De Amicitia" (On Friendship) captures this thinker's thoughts on friendship, and particularly, the role that virtue plays. A very enlightening passage in this work, translated in English, reads: "I can only advise you to prefer friendship to all things else within human attainment, insomuch as nothing beside is so well fitted to nature, -- so well adapted to our needs whether in prosperous or in adverse circumstances. But I consider this as a first principle -- that friendship can exist only between good men." Much ado is made regarding the moral dimension of friendship - that it should be based on nature, and not on need, on love and not on benefit. To quote the good philosopher once again, "But in friendship there is nothing feigned, nothing pretended, and whatever there is in it is both genuine and spontaneous. Friendship, therefore, springs from nature rather than from need, -- from an inclination of the mind with a certain consciousness of love rather than from calculation of the benefit to be derived from it." Hence, Cicero believes that truth-telling is an important aspect of friendship, and that the truth must be told to a friend, even though the truth hurts. But perhaps the most important point made by Cicero is that virtue is the very framework of friendship, it is the very bulwark on which friendship rests - Virtue, I say to you, Caius Fannius, and to you, Quintus Mucius, -- virtue both forms and preserves friendships. In it is mutual agreement; in it is stability; in it is consistency of conduct and character. When it has put itself forth and

Conflict Management Essay Example | Topics and Well Written Essays - 500 words - 1

Conflict Management - Essay Example It was therefore revealed that results were categorized and evaluated according to programme demand under four themes (ubiquity of conflict, conflict competencies, intervention pathways, and preferred uses of conflict coaching) and well as programme composition, implementation, outcomes, and efficiency were discussed. Brinkert (2011) finally revealed that conflict coaching was a â€Å"practical and effective means of developing the conflict communication competencies of nurse managers and supervisees† (Brinkert, 2011, p. 80). The article actually revealed a new technique of improving conflict communication process within the nursing profession using the CCCM. The author disclosed how training nurse managers on conflict coaching could improve conflict communication and management by enhancing awareness on the nature of conflict and the effective strategies and interventions that can be utilized in conflict situations. There were limitations noted by the author including the intertwined role as researcher and trainer for the proposed CCCM. As such, the task proved to be allegedly challenging and daunting. At the same token, Brinkert (2011) revealed and confirmed that there is a still a need to improve conflict communication and management within the nursing profession and to â€Å"extend organizational dispute resolution processes to the individual level† (Brinkert, 2011, p. 90). By learning and applying the CCCM through previously implemented conflict coaching training, nurse managers are able to a ppreciate effective resolution of conflicts encountered within the health care environment. The findings and information learned from the article are valuable for nurse managers in terms of appreciating that the proposed CCCM could assist in managing conflicts in the nursing profession. Since sources and causes of conflicts abound, nurse managers would

Case Study Paper 1- Nickel and Dimed Essay Example | Topics and Well Written Essays - 750 words

Case Study Paper 1- Nickel and Dimed - Essay Example While elaborating the reasons, the writer submits to state that since an overwhelming majority of the labor class is neither educated nor skilled, it has to bear the brunt of not seeking any technical skills and abilities. Consequently, they have to stick to odd jobs, where neither their experience is counted to be referred in some other employment, nor they are admired and appreciated by the management and administration against the services they render for their work places and organizations as well. Moreover, since they find no other job opportunities, they cannot raise their voice against the cruelties inflicted upon them by the management. The middle order management is also a great hurdle on the way to the workers’ progress. Hence, unpleasant and untoward behavior displayed by the administration paves the way towards the financial ruin of the labor class. While analyzing the challenges faced by the lower class community, the novelist is of the opinion that one single job is not enough to fulfill the growing financial needs of the lower class. It is therefore, the individuals belonging to the labor division has to get involved into different jobs in order to make their both ends meet. Both such jobs are so painstaking, tedious and excruciating that the individuals find themselves physically exhausted and almost retarded due to the heavy burden of jobs, which neither brings smile on their faces, nor they earn any sort of applaud or financial jump in return to the hard efforts they make while performing their obligations from dawn to dusk. The writer appears to be astonished to note that the working class does not attain complete diet even once a day; even then they are bound to show extraordinary performance by cleansing several tables, floors, rooms and washrooms of hotels and restaurants as well as attend and serve the

The Truthfulness of Scientific Theories Essay Example | Topics and Well Written Essays - 2500 words

The Truthfulness of Scientific Theories - Essay Example As the discussion stresses  theories are a very important part and basis of any research in science. It is reliant on multiple trial and error experiments. Once a theory is made by a researcher, it is only right until another theory is bought forward to successfully dispute it. Basically, a 'proven' theory is only one when it has survived all the plausible counterarguments. A theory gives people details on the examinations and methods of investigations that were expended to bring it about. There are many famous theories such as the theory of Evolution and Quantum Mechanics theory, among others. Because of these and many other theories, the human civilisation has come a long way with knowledge and enlightenment.  This paper highlights that a theory is detailed information on observations, tests and reasoning that have been made concerning a specific topic or concept. Scientific theories have to be supported by sensible and examined facts. There is a clear difference between facts and theories. Facts can be observed and measured and theories on the other hand explain these facts and give meaning to them.  Theories can be good, bad, or uninteresting. The researcher has to gather all the factual evidence, or else, his theory may simply lack credibility. Theories are the basis of expanding our scientific knowledge and gathering all the information for practical uses. Over many years, scientists have used theories in order to invent even the smallest of technologies and to find cure for diseases.

The Contribution of Geriatric Health Services Research to Successful Essay

The Contribution of Geriatric Health Services Research to Successful Aging - Essay Example The variables for the contributions of Geriatric Health Services Research include : changing care patterns to increase chances of successful; eliminating the iatrogenic consequences of medical care preservation of quality of their aging. Added to these, Owe and Kahn pointed out three components of health services and these are: the changing care patterns to gain chances of successful aging; and elimination of the iatrogenic consequences. On the other hand, measures of frailty, life satisfaction or quality of life, and Physical health are few of the successful aging variables. Several other factors may also be included, like substantial roles, physical and social-psychological environment. Moderator variables may also be added in the study, like evaluation of objective physical disability, subjective physical and mental health. Experimental designs by way of randomized trial and the quasi-experimental methods were needed. This step basically required closely examination of the participants as well as the personnel. Randomized trial and the quasi-experimental methods according to Gay (1999) are two of the strongest designs in providing empirical evidence. It is substantial in establishing the effects of the treatments used. ... 1. Chronic Illness Care 2. Use of Clinical Measures3 Evaluating the effects of this conjoint program; and The Contribution 2 4. Strengthen Geriatric Health Services Policies. Ho3: Geriatric Health Services Department has not attained the high level of "Successful Aging". Types of VariablesThe variables for the contributions of Geriatric Health Services Research include : changing care patterns to increase chances of successful; eliminating the iatrogenic consequences of medical care preservation of quality of their aging. Added to these, Owe and Kahn pointed out three components of health services and these are: the changing care patterns to gain chances of successful aging; and elimination of the iatrogenic consequences. On the other hand, measures of frailty, life satisfaction or quality of life, and Physical health are few of the successful aging variables. Several other factors may also be included, like substantial roles, physical and social-psychological environment. Moderator variables may also be added in the study, like evaluation of objective physical disability, subjective physical and mental health. Methods Used in the Study.Experimental designs by way of randomized trial and the quasi-experimental methods were needed. This step basically required closely examination of the participants as well as the personnel. Randomized trial and the quasi-experimental methods according to Gay (1999) are two of the strongest designs in providing empirical evidence. It is substantial in establishing the effects of the treatments used. It can control certain degree of biases brought about by differential failure or loss to follow-up, the inadequate of control over risk

The Truthfulness of Scientific Theories Essay Example | Topics and Well Written Essays - 2500 words

The Truthfulness of Scientific Theories - Essay Example As the discussion stresses  theories are a very important part and basis of any research in science. It is reliant on multiple trial and error experiments. Once a theory is made by a researcher, it is only right until another theory is bought forward to successfully dispute it. Basically, a 'proven' theory is only one when it has survived all the plausible counterarguments. A theory gives people details on the examinations and methods of investigations that were expended to bring it about. There are many famous theories such as the theory of Evolution and Quantum Mechanics theory, among others. Because of these and many other theories, the human civilisation has come a long way with knowledge and enlightenment.  This paper highlights that a theory is detailed information on observations, tests and reasoning that have been made concerning a specific topic or concept. Scientific theories have to be supported by sensible and examined facts. There is a clear difference between facts and theories. Facts can be observed and measured and theories on the other hand explain these facts and give meaning to them.  Theories can be good, bad, or uninteresting. The researcher has to gather all the factual evidence, or else, his theory may simply lack credibility. Theories are the basis of expanding our scientific knowledge and gathering all the information for practical uses. Over many years, scientists have used theories in order to invent even the smallest of technologies and to find cure for diseases.

The role of His Highness Shiekh Zayed Bin Sultan Al Nhayan in the Essay

The role of His Highness Shiekh Zayed Bin Sultan Al Nhayan in the formation of the UAE - Essay Example While the cities are growing at a rapid pace, the economies are also boosting, resulting in employment and social prospects for the people. Amongst the developed nations of today’s world, United Arab Emirates (UAE) is one of it. United Arab Emirates is a legitimate alliance that came into formulation in the last quarter of 1971, consists of seven emirates that are â€Å"Dubai, Abu Dhabi, Sharjah, Ajman, Umm al-Qaiwain, Ras al-Khaimah, and Fujairah† (Miller, pp. 35-79, 2004). UAE is located in Southwest Asia and its border connects with Qatar to its west side, Oman lies to its north and east and Saudi Arabia is at its south and west part. Iraq, Kuwait, Bahrain, and Iran connect the sea boundary with UAE (Miller, pp. 35-79, 2004). Abu Dhabi is considerably the biggest city of the federation amongst all the other emirates and is the capital of United Arab Emirates, which is the focal point of political and industrial functioning. Ajman is the smallest emirate of UAE and su bsumes the nominal area of the whole. A mixture of topography is present in UAE. More than half of the entire area of it is a barren region and desert, nevertheless, this country comes under the category of one of the most urbanized, developed and beautiful places in the world. Distinct and divergent sceneries, overwhelming sandbanks, rich oases, sheer and steep rock-strewn mountains and fruitful prairie are all geographical factors that highlight the beauty of UAE (Miller, pp. 35-79, 2004). UAE is a state, which has made the use of the modern technologies to its fullest and has included its name in one of the world’s fastest growing states. UAE not only worked on expansion of the emirate but it paid scores of attention in developing its tourism due to its classy infrastructure, thus, putting efforts on building numerous shopping malls, high-class hotels and restaurants and holiday resorts. With its widespread and beautiful sandy beaches, diverse sceneries, deserts, diverse s ports activities, shopping, resorts and captivating customary traditional culture makes UAE a perfect and an ideal place for a holiday. Since bygone eras, geological location is of utmost importance as it makes UAE easily accessible to different parts of Asia, Europe, and Africa. Indian Ocean has a brawny weight on the climatic conditions of UAE due to the reason that it touches the borders of Arabian Gulf and Gulf of Oman, therefore, the atmospheric conditions of UAE comes under the dry, scorched, and parched tropical zone. Due to this reason, UAE experiences intense warmth and heat that comes with humidity in the summer seasons particularly in the coastal areas. The temperature deviations between the coastal regions, deserts, and hilly areas observe a clear and visible pattern. The nights of UAE to some extent are chilly than that of the daytime weather (Rashid & Nel, pp. 25-55, 2001). Despite of the fact that UAE is a country that has a president and has come into formation, it e ncompasses neither a lawful kingdom or absolute monarchy, nor a democracy. It comprises of seven separate kingdoms, which comes under governance by seven different authorities, each having its own supremacy and domination. Though the rulers of all the federations select a president, the ultimate power remains in the hands of these monarchs called emirs/sheikhs. A constitution of UAE do not guide the emirs as to

Military nurses Essay Example for Free

Military nurses Essay The nurses gave care to the men who were wounded during the war. They gave the care that was needed for example, medical care to dress up the wounds of the men. For those who became paralyzed, the nurses supported them physically and emotionally. They clothed and fed them. The families of those who made it and their loved ones spoke of the care they received from the nurses and glorified their assistance. They continued to acknowledge their presence and selfless efforts to assist them. (Song, p78) The military nurses conducted talks at high schools. They wanted to educate the students regarding the careers available and what it would take for them to be qualified. They gave their stories and the challenges that they faced during their work. When the students were asked which profession was toughest and most demanding, they said it was nursing. (Chen, p45) Given all the stories that they heard, they concluded that, if they had to be a nurse, then it was tantamount to a vocation which demanded that one leaves behind all other dreams just to serve as a nurse. It was even more challenging for the nurses because they did not have proper health facilities from which to operate. They set up tents and the tent was used to carry out even very delicate surgery operations. The medical facilities were described to be beyond primitive. (Insun, p456) Ironically, it was compared to TV Show and MASH movie. The environment was dirty and non sterile. They did not have adequate instruments. In addition, the hands at work were not enough. The emergency cases were so many yet the nurses were few and could therefore not deal with the workload by themselves. To make the matter worse, there were some equipment which had to be shared during surgical procedures which were absolutely required to save people’s lives, yet they had not been sterilized. For example, the nurses did not have suction. Also missing was penicillin for irrigating the wounds. There was no blood for transfusion yet the majority of cases which were received were of people who had lost too much blood and needed more. The casualties out in the field were just so many. Despite the terrible state of the tents functioning as hospitals, all the casualties were taken there. (Woodside, p67-p89) These nurses were the only hope and the lives of people and soldiers were only entrusted with them. It was hoped that, once they treated them, they would eventually be sent back to fight. These women nurses were not allowed to cry. (Insun p56) They were supposed to encourage and give hope to the dying. It was very wrong to cry in front of the wounded men and the dying ones. These men needed the strength of these women in that poor state of their health. The women were not supposed to gain luxury out of their own feelings. At the same time, the nurses were not supposed to lie to the soldiers regarding their health. If they were dying they were supposed to tell then straight in their faces. (Taylor, p34) This was such a torment to them. The nurses at times were not able to get along with their nursing director and therefore sought transfer. Unfortunately, they were transferred to the war-torn areas and much worse than the areas they were previously serving. In addition women were supposed to fly runs for evacuation and many of the nurses had not had a chance to be in a helicopter, but they could not give up this responsibility since there was no one else to do it. The women serving in the medical personnel were the most inexperienced too serve during the time of war. Besides that, they feared for their lives especially because the soldiers depended on them for medical care. (Yu, Insun, 278) The nurses also went to Vietnamese villages and set up medial centers and clinical which they used to treat those children who had eye infections, skin diseases and intestinal diseases. Most of the diseases came form the bacteria which was always present. (Woodside, p36) Conclusion The stories of Vietnamese women are one that can drive a reader to point of tears. The sufferings and torture that these women went through is a living proof of their sacrifices. These women put their lives on line to restore peace and harmony as well as save lives. Despite the various roles and professions that were engaged in they never gave up their roles in the family as mothers, caretakers, wives and advisers. Their contributions particularly during the time of war deserve praise and honor. They should be rewarded for their efforts. They did what many women are not believed they can do. (Chen, 236) The women did not show cowardice but actually displayed courage and perseverance. Vietnamese women are a symbol of strength that is possessed by the women and discourages women to take a back seat in all matters. From the experiences, it is obvious that without the support that they gave to the soldiers, they would not have accomplished much in their country. It is high time that Vietnamese women held their leads high and walked with pride and dignity they have. Works Cited Chen, King C. Vietnam and China, 1938-1954. Princeton: Princeton University Press, 1969. Song, Jungnam. History of Vietnam. Bu-san: Bu-san University Press, 1966. Taylor, Keith W. The Birth of Vietnam. Redwood City: Berkeley, University of California Press, 1983. Taylor, Keith W. and Whitmore, John K. eds. Essays into Vietnamese Pasts. Ithaca: Southeast Asia Program Publications, Cornell University, 1995. Woodside, Alexander B. Vietnam and Chinese Model. Cambridge, Massachusetts: Harvard University Press, 1971.

Different approaches to leadership and management

Different approaches to leadership and management In this approach the subordinates or employees have very minute opportunity to make a decision by themselves most of the time the leader used to dictate his employees and control them by himself. This approach is the extreme type of transactional leadership. In which the reward of the work is directly defined by the leader. This approach is mostly used in unskilled labour work where there is no or lessor need of skill or expertise are required. This approach often results in high turnover and high level of absenteeism. In my point of view Marcionne has used this kind of leadership. But because of his foresight thinking and proactive decision making pull out the fiat from the worst crisis of its history when it was about to collapse but Marcionne bravely and intelligently stabilize the condition of the fiat. Democratic leadership approach This is the moderate approach towards the decision making process of the company. In this approach employees are often called for participation. Although the final decision is made by the leader but the employees feels more confidence in decision making because they think that their destiny reward management and other matters are settle by themselves. This approaches although takes more time but the results are often fruitful. This type of leader ship is often used where there is more importance of team work rather than just speed in productivity. In case of Oticon Kolind established this kind of environment in its organisation and there was no segregation on the behalf of seniority or hierarchal rank but just if they want do a work they have to just ask from their team leader. Laissez-faire Leadership approach Actually this is a French phrase which means leave it be and in this approach managers or leaders often leave their employees to work by themselves.it can be proved effective if there is proper and effective feedback system prevails. This kind of approach often prevails where the workers are highly skilled and self-motivated. In Google Corporation this type of the approach is being followed. Oticon Background and market position Oticon was the first hearing aid manufacturing Danish company came into being in 1904. Oticon was number one in market shares of 15% in worldwide hearing aids products in the end of the 70 because their technology advancement in miniaturization enabled them for the mass production of hearing aids. This position was challenged by the invention of the ITE (in the ear hearing airs device) that was a better technological substitute than the BTE which dominated by Oticon. The market share of Oticon dropped from 15% to 7% by 1987 since the introduction of the ITE. Lacking the economies of scale from BTE, Oticon became the number three hearing aids behind Siemens Audiologische Technik (Erlangen, Germany) and Starkey (Minneapolis, USA). With these conditions, we can address the competitive requirements of Oticon in the audiology industry. Being number three is very difficult to sustain any profitable business because it cannot compete with the market leaders in financial resources, marketing, brand equity, as well as technology creation with the companies like Siemens and Starkey. To survive they need to improve from their current strengths of high quality and high cost manufacturer to agile company with highly selected customer focus since quality hearing aids is the standard of regular products. Steps to improve financial and market position. The strategic plan for achieving competitive advantage in this industry can be addressed using Technology advancement Economies of scale Customers Organization innovation. The breakthrough invention of ITE that eroded the market share of BTE is the best way for any company to gain the competitive advantage. The know- how on how the mass produce the needed hearing aids can realize the economies of scales for the new invention like ITE. Targeting specific market segment for the best ROI as well as making a company more agile is also valid method to achieve competitive advantage in audiology industry. After Lars Kolind assumed the position of Oticons CEO, he cut 10-15% of corporate employees and loss-money businesses. He also realized that the company cannot compete with two bigger competitors in technology, marketing and sales because of the financial resources. With these constraints, he could only try to focus on customers and organization innovation. Oticon was targeting the high-priced segment of the market as well as emphasizing to nearly 5000 key hearing aid dispensers and hearing clinics. In the organizational change to make Oticon more agile, he thought if he wanted to compete with big company like Siemens, he could not just make 10% change and expected to beat Siemens. This change has to be radical, the radical new organization will not have formal hierarchical reporting relationships but with a resource allocation system build around self-organized project teams Revolution in Oticon With the globalization of the hearing aid productions and the price pressure from the competition, the best production in the industry is not good enough as the foundation to sustain the business for Oticon. For Oticon to survive and to succeed in this industry, it will need to reduce total cost of conducting the business by 30%. With this figure set as the ultimate goal, a project for Oticon was formed as project 330 to achieve 30% business expense reduction in 3 year. To accomplish this goal, the current organization structure needed to be overhauled. Sustainable competitive advantage can only be achieved with an organization that is creative, innovative as well as flexible. Two tangible actable steps: Dialogue and Action can be used to support this conceptual road map to construct this new organization. This organization should be unique and fast moving as well as highly efficient. The basic characteristics of this new organization are self-defined role (employee can initiate, participate and assemble a project to complete for proper funding) multi-level role (every employee should participated at least 3 projects, in different fields) transparency (knowledge is shared organization wise). This new organization would be a team-based (project-based) organization without formal structure. Three key inhibitors needed to be removed for this new organization: (1) paper, the document that circulates around offices and (2) wall, the partition among offices. The dialogue and action is a more efficient way for communication. With the intention to disband the old, formal hierarchical structure of Oticon A/S, the process to establish an new organization is truly a revolution in business reengineering. After the cost cutting and tweaking the company, Lars Kolind started to turn the company around by producing profit of DKK 22 million in 1989. He knew this business model was not sustainable. He needed to use a radical approach for reorganization to find a sustainable business model. On January 1, 1990, Kolind wrote a 4-page memo (asked all Oticon employees to think the unthinkable) for change, it was the revolution needed for the organization change in Oticon. three critical issues of creating an agile team of 150 employees in head quarter could be identified from this case study (1) The disagreement among old and young employees on this changing process, old managers and older employees and young newer employees that felt the need for the change. (2) Culture barrier in Oticons functional departments that located in different cities, R/D versus Corporate administration. To create this cross-functional team- based organization, he need to breakdown the barrier among internal functional divisions. He felt it would be a disaster to merge these two distinct departments with different cultures. He proposed to have every department to third place to start a brand new corporate culture. 3) Kolind introduced new open plane office structure that removes the wall between upper level and lower level management and introduce latest computer and IT system which enables the employees to directly access any manager at any time. To gathering sufficient momentum for adoption of these new ideas, Kolind devoted himself to preparing employees to move to this new head quarter. He hired Sten Davidsen to manage the change process. Davidsen prepared a one-page map of the change process to informed the progress and steps for employees to follow. Three groups were involved in this changing process (1) one group worked directly with the architects and engineers as they designed the new buildings for the new head quarter (2) one group edited and published projected 330, the newsletter to keep every employee posted on the progress (3) one group was formed with 13 people to train other employee to use the new IT system. Monthly meetings were help to keep every employee with the concept of new organization as well as the new business model. Kolinds leadership in Oticon Without the production of new innovative ITE, Oticon slipped to number three market share in the global market. Although the tweaking of the business by cutting 10- 15% corporation employees and some money-loss business to turn the company around with profit. This cut and cut business model is not sustainable. Being number three, the Oticon lacked the financial resources to compete with Siemens in every business aspects from R/D spending for new technology, marketing, branding, even distribution channels or targeting specific customer segment. The only way to complete with Siemens and Starkey were to create an agile organization that can not be replicated. The thought of non-replicated organization was the main reason for the think the unthinkable Manifesto written by him on January 1, 1990. the only way to compete and survive is to create a total different organization that is agile and competent. As a CEO, Kolind had done enough to prepare his troops to march to the field for the flight. It is always the internal inertia of the old that prevents this advancement. The perception of the company was performed OK created a false impression the change was not needed, to see a CEO full charged for this radical change was viewed as trouble-some by a lot of old employees. Fiat Fiat is an acronym for Fabbrica Italiana Automobile Torino, (Italian Automobile Factory Turin). It was founded in 1899 by a group of aristocrats and businessmen, including Giovanni Agnelli, in the northern Italian city of Turin in Piedmont. The first car produced was called 3V2 HP One hundred fifty workers in a small local factory produced 24 of them in 1900. In 1902, Giovanni Agnelli became the managing director. Fiats first modern factory, Lingotto, was inaugurated in 1923, and a more modern one, Mirafiori in 1939. Both were named for the neighbourhoods in Turin where they were located. Fiat cars first appeared in America in 1908 when a factory in Poughkeepsie, NY was licensed to make them. It functioned until 1917. Currently, Fiat has five factories in Italy; two in Brazil; one in Poland and one in Argentina altogether employing about 53,000 workers, about half of whom are in Italy. Fiat has been controlled by the Agnelli family from the beginning. After Giovanni died in 1945, Vittorio Valletta ran the company on their behalf until 1966 when Giovannis grandson, Gianni Agnelli took over. By the time of his death in 2003, Fiat had grown into a multi-national corporation. Apart from automobiles, Fiat also makes trucks, buses, agricultural vehicles. It invests heavily in research and development and controls such famous luxury car makers as Alfa Romeo, Lancia, Maserati and Ferrari. The company operates in 50 countries, and owns Ia Stampa, Turins daily newspaper. Currently Luca Cordero di Montezemolo is the president but John Elkann, an Agnelli heir, is vice-president, maintaining the Agnelli presence in flesh and blood. In 2008, the Fiat Group had gross revenues of nearly $88 billion. GM And Fiat Strategic And Industrial Alliance Quick facts of the case: In 2000 Fiat and GM enter into a strategic and industrial alliance (Fiat acquires a 5.1% stake in GM and GM acquires a 20% stake in Fiat). The agreement included a put option, which stipulated that Fiat would have the right to sell the remaining 80% to GM after 4 years at a fair market value. Fiat entered into the alliance to save its declining auto division (losses since early 90s) GM entered to keep pace with consolidation trend and to help its European and Latin American divisions. Synergies like cost savings, cross sharing of automotive technologies were focused upon. By 2004, Fiat planned to exercise the put option, but GM rendered it void because Fiat had sold its financing arm and had recapitalized. End of the alliance Mid-2004 GM agreed to help Fiat out of its financial turbulence. However, by end 2004 there were speculations that GM was seeking to sell its stake in Fiat and deny the obligation of the put option. GM argued that the put option was void because Fiat had sold its financing arm Fidis. Fiat countered by saying GM could buyout 51% of Fidis and that Fiats strategic freedom was restricted because the alliance between GM and Fiat stipulated that Fiat could not enter into alliances with others (relationship-specific investment). Fiat agreed to cancel the put option if GM paid $3 billion, but GM only agreed to pay up to the book value of its stake, which was $500 million ultimately GM pays $2 billion toget rid of this put option. Recovery of fiat Back in Turin, the break-up of the Fiat-GM alliance was presented as a triumph. Fiat placed advertisements proclaiming Fiat is all-Italian again. It was about to launch the Grande Punto a sharply-styled, larger version of the mainstream Fiat model and buyers in its home country got the message: Fiats market share took an upturn. At the same time his newly-appointed engineering chief Harald Wester was investigating whether sophisticated computer simulations could eliminate the need to build and test expensive prototypes and thus reduce development time. The result was the new Bravo, which went on sale in Britain last week. It progressed from design to production in a record 18 months, about half the usual time. Table of Contents Different approaches to leadership 1 Oticon 2 Fiat 6

Sensation, Emotion, and Thought :: Self Identity Growth Essays

Sensation, Emotion, and Thought Many times in life people get stuck with the same points of view and do not see any other way to see answers are points of view. Therefore they do not see answers that are in front of them and can not change. Seeing other people’s points of view and expanding on them is how people grow and can widen what there beliefs are. In an introduction book for philosophy, â€Å"Wisdom Without Answers†, the writers give a clear understanding of how philosophy can answer questions for people: â€Å"Philosophy shows us how to identify the limitations of our own points of view. But it does more: It teaches us how to get outside ourselves-how to cross the barriers of our familiar framework of answers† (Kolak & Martin 3). We only know a small part of life but by just thinking that are own thoughts and beliefs are right and that we will not look at the other side and stay to the familiar. The only way to grow and really be â€Å"smart† about life is to see that there is m uch we do not know. There are three combined parts of the self that makes experiences: Sensation, emotion, and our own thoughts. You can not have one without the other two. When you touch something with your finger there is pressure on the skin and from that a thought comes from you brain which also make an emotion about the action come out. The question the author is giving the readers in â€Å"Wisdom Without Answers† is they really connected together. If you have a thought do you have emotion connected to it and maybe a sensation too. Your finger can think for itself so something has to be given information to you so that you know what you are doing or feeling. This is a dilemma because they all circular around each other so they have to be connected. We don’t want are thoughts that make up some of an experience to be false. In chapter eight, the idea of experience is explored. The orientation is that sensation, emotion and thought are all components of any experience. The â€Å"disorientation† begins when the author explains that there is a difference between what we experience and the interpretation of that experience. Any sensation is based on our minds interpretation of it.

The Character Of Macbeth :: essays research papers

The character of Macbeth was a classic example of a tragic hero. Though many factors contributed to the degeneration of Macbeth, the one that stuck out most was his uncontrollable urge to attain and retain power. His over ambitious desire to acquire power was let loose by the witches, with their prophecies of Macbeth becoming the Thane of Glamis, Thane of Cawdor, and King of Scotland. At first Macbeth replied that such foreshadowing couldn't be taken seriously, because of the evil forces that lay behind them. However, when Macbeth was declared Thane of Cawdor, almost immediately after the witches' prophecies, he had private thoughts and ambitions that he could become King of Scotland. In an instant the witches had let loose Macbeth's over ambitious nature for imperial power. (An aside in I.iii.127-130 is a perfect example)   Ã‚  Ã‚  Ã‚  Ã‚  Now that Macbeth's uncontrollable desire to become king had surfaced, he became solely focused on obtaining this goal. This included the murder of King Duncan. Lady Macbeth, wanting to be queen of Scotland, provided her husband with a plan to assassinate King Duncan. At first Macbeth hesitated to murder Duncan. He was afraid of the aftereffects and didn't deem it right to kill a king who was just and of such high stature. Unfortunately for Duncan, Macbeth's ambitions slowly overpowered his morals and loyalty. Even though Macbeth was uncertain, his ambition for power was able to take over his mind, and provided him with a sufficient excuse to murder King Duncan.   Ã‚  Ã‚  Ã‚  Ã‚  Macbeth had now achieved his goal, being the King of Scotland. His urges should have diminished, but they didn't. Macbeth was now dead set on retaining his new power. He became paranoid and feared Banquo, whose integrity and loyalty could allow him to avenge Duncan's death. Even though Banquo thought it was quite odd that Macbeth quickly acquired the titles the witches hailed him, he did not think Macbeth was capable of murdering Duncan. However, what really was bothering Macbeth was Banquo's sons were prophesied to inherit the throne. Macbeth would do whatever he could to prevent anyone, even after his death, from taking the throne. Macbeth wasn't just satisfied with being king; he wanted to have his descendants share the title as well. Acting on these passions, Macbeth hired two assassins and tried to kill Banquo and his son Fleance. Even though Fleance escaped, the murder of Banquo calmed Macbeth's nerves because he was safe from being charged with the murder o f King Duncan.

Nature Swaps in Latin America

Latin America is currently in a debt crisis. Poor management, over lending by banks, and a bad turn in the world economy has produced severe debt that is forcing these countries to exploit their natural resources in an attempt to ease their economic problems. However, many individuals and organizations have seen a silver lining to this cloud and are now buying debts (at a discounted rate) and giving them back to the debtor countries in return for environmental protection. Although increasingly difficult to achieve, these debt for nature swaps are beneficial to the debtor country and the world. So why do we go to all this trouble for a few countries that are not even big players in the world market? I discovered that we loose about 40 million acres of forest each year and 27 million of that is tropical rain forrest. (White house fact sheet on the President†s Proposal for a Global Forest Convention). Considering that the world†s forest act as respiration, filtration, and cooling system, we must make a concerted effort to conserve and start repairing the damage we have already done. A large part of the worlds forest rest in the debt ridden counrties of Latin America. In an attempt to repay these huge debts, countries are utilizing their natural resourses and straining them to the point where their situation could have global ecological ramifications. There is an undenyable link between the deforestation in Latin America and its enoumous debt. Debt for-nature swaps take advantage of an otherwise bad situation, turn it around, and use it to promote forest conservation in Latin America. The first debt-for-nature swap was with the government of Bolivia and the non government organization Conservation International. Since then, the international community and the United Nations have picked up the idea and now incorperate it in many of their initatives and policies directed toward forest conservation in Latin America. In a debt for nature swap an organization buys a debtor nations foreign debt at a discount ( since most of the worlds financial organizations are eager to unload them) and then forgive it in exchange for a commitment by the country to invest the face value of the debt in environmental conservation. The debt is converted for US dollars to local currency, which is used to fund the programs. This alleviates the debt, and proves a bargain to the organization that initiated the swap. They also receive higher visibility and these types of transactions get them involved in the local government allowing them to pursue future programs. Commercial banks also see a potential in debt for nature swaps. Instead of holding on to a debt that will more than likely never be paid, they donate it to a non government organization and write it off as a charitable donation. More recently, due to a change in international policy, they can not only sell the debt at a discount (recouping some of their loss) , but write it off at face value and gain prestige for their involvement in environmental protection. The role of the debtor nation is a bit more difficult. The debtor nation must agree to essentially buy back the debt by financing the eviromental conservation programs with the converted money and pay any other cost involved in the transaction. Not a bad deal for the debtor nation considering they would have had to pay the initial cost many times over just in interest payments. The USDA forest service says, † The debtor nation consents to the swap terms; bear the cost of: 1 the buy back of the debt from the charitable organization and 2 additional project financing commiserates with the differential between the discount price on the secondary market and the exchange rate for debt converted into local currency. In addition, the project may entail future recurrent expenditures for the host country†s public sector. † Almost all debt-for-nature swaps have some US involvement. Usually we act as the sugar daddy, financing non government organizations and setting up regulations that the debtor nation must meet. In 1990 the US established these regulations under Title VI of the 1990 fact act. The debtor country must be making progress toward the establishment of certain world bank reform programs and be making reforms in the foreign and domestic investment area. The debt swap between the non government organization and the debtor country is negotiated by the US. In exchange for forgiveness of the debt the debtor country must make interest payments into the project, which is governed by a local government body. The body which negotiates the swap is composed of relative US government organizations and some non government relative organizations. Their job is to provide guidance and help carry out the administrative maneuvers needed for such a swap. This type of debt for nature swap is very complicated and has lead conservation groups to look for ways around the jungle of red tape that surrounds these swaps. One type of swap that seems to bypass a lot of these difficulties is an interest swap. The same basic principle applies, but with a twist. The foreign debt is converted into long term bonds by the non government organization and swaps interest payments in return for environmental funding. The debtor nation gets to retire a debt using its own currency, which is diverted to the conservation program. Conservation organizations get some security from inflation and avoid the threat that the debtor nation will renege on its obligations. If the debtor nation stops funding environmental programs, then interest payments resume. Because of the protection and relative ease of this type of swap, it has grown increasingly popular among international conservation organizations. Sometimes a corporation may donate or discount assets it holds in Latin America because they are unable to profit from them. The corporation writes them off as a charitable donation and the non government organization diverts funds for environmental protection. This is a good deal for both since the cooperation gets to write the whole thing off and the conservation organization gets more bang for their buck. This also effectively cuts out the US, the board of overseers, and for the most part, the local government. Once inaccessible financial resources are being tapped, a debt is being retired, and government supported environmental initiatives are being started. All this seems terribly involved and difficult and that is because it is terribly involved and difficult. These swaps are small compared to the overall national deficit of these countries and that is because they have to be. If they were done on a large scale, in the current state of these countries economies, the influx of domestic currency would haave a bad inflationary effect on the economy, and that is the last thing these countries need. The receiptant countries they will loose economic sovergnity in these debt-for-nature swaps. The donor organization and the US negotiators tack on all kinds of stipulations and conditions to these swaps. Less than appealing conditions for countries that are already under the screws of the IMF and the World Bank. The IMF knows they are the last hope for these countries and do not hesitate to impose mountains of economic conditions with their loans. Granted, they are in the interest of neo-liberal economic reform but, any changes made in their fragile economy can have a rippling effect that can affect the political stability of an administration. In such a political climate it is easy to understand why many Latin American countries are reluctant to participate in these swaps when there is a potiential further loss of their economic sovergnty. The intention and idea behind debt-for-nature swaps are noble but, the question comes up, † Are we really helping Latin American countries by interfering in their affairs? â€Å". Is this just more bad breath diplomacy? These debt for nature swaps are likely to only temporarly aleviate some of Latin Americas economic troubles. With these debts retired, they have access to new funds and the cycle of borrowing will continue along with the deforestation. Besides saving the rain forest, what other plans do US and other international cooperations have in mind for Debt-for-nature swaps? It seems to me that this would be a perfect way to take controll of valuable natural resources and save them for later use. After all, most debt-for-nature swaps are essentially a lease that last until the face value of the debt has been spent on conservation and then the government takes back control of the land. Why not take advantage of Latin Americas bad situation and use it to hold on to valuable land until they are out of crisis and the land is safe? Wait for better economic and ecological conditions. Its cheaper than buying the land and paying taxes on it so just write off a bad loan Latin America is currently in a debt crisis. Poor management, over lending by banks, and a bad turn in the world economy has produced severe debt that is forcing these countries to exploit their natural resources in an attempt to ease their economic problems. However, many individuals and organizations have seen a silver lining to this cloud and are now buying debts (at a discounted rate) and giving them back to the debtor countries in return for environmental protection. Although increasingly difficult to achieve, these debt for nature swaps are beneficial to the debtor country and the world. So why do we go to all this trouble for a few countries that are not even big players in the world market? I discovered that we loose about 40 million acres of forest each year and 27 million of that is tropical rain forrest. (White house fact sheet on the President†s Proposal for a Global Forest Convention). Considering that the world†s forest act as respiration, filtration, and cooling system, we must make a concerted effort to conserve and start repairing the damage we have already done. A large part of the worlds forest rest in the debt ridden counrties of Latin America. In an attempt to repay these huge debts, countries are utilizing their natural resourses and straining them to the point where their situation could have global ecological ramifications. There is an undenyable link between the deforestation in Latin America and its enoumous debt. Debt for-nature swaps take advantage of an otherwise bad situation, turn it around, and use it to promote forest conservation in Latin America. The first debt-for-nature swap was with the government of Bolivia and the non government organization Conservation International. Since then, the international community and the United Nations have picked up the idea and now incorperate it in many of their initatives and policies directed toward forest conservation in Latin America. In a debt for nature swap an organization buys a debtor nations foreign debt at a discount ( since most of the worlds financial organizations are eager to unload them) and then forgive it in exchange for a commitment by the country to invest the face value of the debt in environmental conservation. The debt is converted for US dollars to local currency, which is used to fund the programs. This alleviates the debt, and proves a bargain to the organization that initiated the swap. They also receive higher visibility and these types of transactions get them involved in the local government allowing them to pursue future programs. Commercial banks also see a potential in debt for nature swaps. Instead of holding on to a debt that will more than likely never be paid, they donate it to a non government organization and write it off as a charitable donation. More recently, due to a change in international policy, they can not only sell the debt at a discount (recouping some of their loss) , but write it off at face value and gain prestige for their involvement in environmental protection. The role of the debtor nation is a bit more difficult. The debtor nation must agree to essentially buy back the debt by financing the eviromental conservation programs with the converted money and pay any other cost involved in the transaction. Not a bad deal for the debtor nation considering they would have had to pay the initial cost many times over just in interest payments. The USDA forest service says, † The debtor nation consents to the swap terms; bear the cost of: 1 the buy back of the debt from the charitable organization and 2 additional project financing commiserates with the differential between the discount price on the secondary market and the exchange rate for debt converted into local currency. In addition, the project may entail future recurrent expenditures for the host country†s public sector. † Almost all debt-for-nature swaps have some US involvement. Usually we act as the sugar daddy, financing non government organizations and setting up regulations that the debtor nation must meet. In 1990 the US established these regulations under Title VI of the 1990 fact act. The debtor country must be making progress toward the establishment of certain world bank reform programs and be making reforms in the foreign and domestic investment area. The debt swap between the non government organization and the debtor country is negotiated by the US. In exchange for forgiveness of the debt the debtor country must make interest payments into the project, which is governed by a local government body. The body which negotiates the swap is composed of relative US government organizations and some non government relative organizations. Their job is to provide guidance and help carry out the administrative maneuvers needed for such a swap. This type of debt for nature swap is very complicated and has lead conservation groups to look for ways around the jungle of red tape that surrounds these swaps. One type of swap that seems to bypass a lot of these difficulties is an interest swap. The same basic principle applies, but with a twist. The foreign debt is converted into long term bonds by the non government organization and swaps interest payments in return for environmental funding. The debtor nation gets to retire a debt using its own currency, which is diverted to the conservation program. Conservation organizations get some security from inflation and avoid the threat that the debtor nation will renege on its obligations. If the debtor nation stops funding environmental programs, then interest payments resume. Because of the protection and relative ease of this type of swap, it has grown increasingly popular among international conservation organizations. Sometimes a corporation may donate or discount assets it holds in Latin America because they are unable to profit from them. The corporation writes them off as a charitable donation and the non government organization diverts funds for environmental protection. This is a good deal for both since the cooperation gets to write the whole thing off and the conservation organization gets more bang for their buck. This also effectively cuts out the US, the board of overseers, and for the most part, the local government. Once inaccessible financial resources are being tapped, a debt is being retired, and government supported environmental initiatives are being started. All this seems terribly involved and difficult and that is because it is terribly involved and difficult. These swaps are small compared to the overall national deficit of these countries and that is because they have to be. If they were done on a large scale, in the current state of these countries economies, the influx of domestic currency would haave a bad inflationary effect on the economy, and that is the last thing these countries need. The receiptant countries they will loose economic sovergnity in these debt-for-nature swaps. The donor organization and the US negotiators tack on all kinds of stipulations and conditions to these swaps. Less than appealing conditions for countries that are already under the screws of the IMF and the World Bank. The IMF knows they are the last hope for these countries and do not hesitate to impose mountains of economic conditions with their loans. Granted, they are in the interest of neo-liberal economic reform but, any changes made in their fragile economy can have a rippling effect that can affect the political stability of an administration. In such a political climate it is easy to understand why many Latin American countries are reluctant to participate in these swaps when there is a potiential further loss of their economic sovergnty. The intention and idea behind debt-for-nature swaps are noble but, the question comes up, † Are we really helping Latin American countries by interfering in their affairs? â€Å". Is this just more bad breath diplomacy? These debt for nature swaps are likely to only temporarly aleviate some of Latin Americas economic troubles. With these debts retired, they have access to new funds and the cycle of borrowing will continue along with the deforestation. Besides saving the rain forest, what other plans do US and other international cooperations have in mind for Debt-for-nature swaps? It seems to me that this would be a perfect way to take controll of valuable natural resources and save them for later use. After all, most debt-for-nature swaps are essentially a lease that last until the face value of the debt has been spent on conservation and then the government takes back control of the land. Why not take advantage of Latin Americas bad situation and use it to hold on to valuable land until they are out of crisis and the land is safe? Wait for better economic and ecological conditions. Its cheaper than buying the land and paying taxes on it so just write off a bad loan Latin America is currently in a debt crisis. Poor management, over lending by banks, and a bad turn in the world economy has produced severe debt that is forcing these countries to exploit their natural resources in an attempt to ease their economic problems. However, many individuals and organizations have seen a silver lining to this cloud and are now buying debts (at a discounted rate) and giving them back to the debtor countries in return for environmental protection. Although increasingly difficult to achieve, these debt for nature swaps are beneficial to the debtor country and the world. So why do we go to all this trouble for a few countries that are not even big players in the world market? I discovered that we loose about 40 million acres of forest each year and 27 million of that is tropical rain forrest. (White house fact sheet on the President†s Proposal for a Global Forest Convention). Considering that the world†s forest act as respiration, filtration, and cooling system, we must make a concerted effort to conserve and start repairing the damage we have already done. A large part of the worlds forest rest in the debt ridden counrties of Latin America. In an attempt to repay these huge debts, countries are utilizing their natural resourses and straining them to the point where their situation could have global ecological ramifications. There is an undenyable link between the deforestation in Latin America and its enoumous debt. Debt for-nature swaps take advantage of an otherwise bad situation, turn it around, and use it to promote forest conservation in Latin America. The first debt-for-nature swap was with the government of Bolivia and the non government organization Conservation International. Since then, the international community and the United Nations have picked up the idea and now incorperate it in many of their initatives and policies directed toward forest conservation in Latin America. In a debt for nature swap an organization buys a debtor nations foreign debt at a discount ( since most of the worlds financial organizations are eager to unload them) and then forgive it in exchange for a commitment by the country to invest the face value of the debt in environmental conservation. The debt is converted for US dollars to local currency, which is used to fund the programs. This alleviates the debt, and proves a bargain to the organization that initiated the swap. They also receive higher visibility and these types of transactions get them involved in the local government allowing them to pursue future programs. Commercial banks also see a potential in debt for nature swaps. Instead of holding on to a debt that will more than likely never be paid, they donate it to a non government organization and write it off as a charitable donation. More recently, due to a change in international policy, they can not only sell the debt at a discount (recouping some of their loss) , but write it off at face value and gain prestige for their involvement in environmental protection. The role of the debtor nation is a bit more difficult. The debtor nation must agree to essentially buy back the debt by financing the eviromental conservation programs with the converted money and pay any other cost involved in the transaction. Not a bad deal for the debtor nation considering they would have had to pay the initial cost many times over just in interest payments. The USDA forest service says, † The debtor nation consents to the swap terms; bear the cost of: 1 the buy back of the debt from the charitable organization and 2 additional project financing commiserates with the differential between the discount price on the secondary market and the exchange rate for debt converted into local currency. In addition, the project may entail future recurrent expenditures for the host country†s public sector. † Almost all debt-for-nature swaps have some US involvement. Usually we act as the sugar daddy, financing non government organizations and setting up regulations that the debtor nation must meet. In 1990 the US established these regulations under Title VI of the 1990 fact act. The debtor country must be making progress toward the establishment of certain world bank reform programs and be making reforms in the foreign and domestic investment area. The debt swap between the non government organization and the debtor country is negotiated by the US. In exchange for forgiveness of the debt the debtor country must make interest payments into the project, which is governed by a local government body. The body which negotiates the swap is composed of relative US government organizations and some non government relative organizations. Their job is to provide guidance and help carry out the administrative maneuvers needed for such a swap. This type of debt for nature swap is very complicated and has lead conservation groups to look for ways around the jungle of red tape that surrounds these swaps. One type of swap that seems to bypass a lot of these difficulties is an interest swap. The same basic principle applies, but with a twist. The foreign debt is converted into long term bonds by the non government organization and swaps interest payments in return for environmental funding. The debtor nation gets to retire a debt using its own currency, which is diverted to the conservation program. Conservation organizations get some security from inflation and avoid the threat that the debtor nation will renege on its obligations. If the debtor nation stops funding environmental programs, then interest payments resume. Because of the protection and relative ease of this type of swap, it has grown increasingly popular among international conservation organizations. Sometimes a corporation may donate or discount assets it holds in Latin America because they are unable to profit from them. The corporation writes them off as a charitable donation and the non government organization diverts funds for environmental protection. This is a good deal for both since the cooperation gets to write the whole thing off and the conservation organization gets more bang for their buck. This also effectively cuts out the US, the board of overseers, and for the most part, the local government. Once inaccessible financial resources are being tapped, a debt is being retired, and government supported environmental initiatives are being started. All this seems terribly involved and difficult and that is because it is terribly involved and difficult. These swaps are small compared to the overall national deficit of these countries and that is because they have to be. If they were done on a large scale, in the current state of these countries economies, the influx of domestic currency would haave a bad inflationary effect on the economy, and that is the last thing these countries need. The receiptant countries they will loose economic sovergnity in these debt-for-nature swaps. The donor organization and the US negotiators tack on all kinds of stipulations and conditions to these swaps. Less than appealing conditions for countries that are already under the screws of the IMF and the World Bank. The IMF knows they are the last hope for these countries and do not hesitate to impose mountains of economic conditions with their loans. Granted, they are in the interest of neo-liberal economic reform but, any changes made in their fragile economy can have a rippling effect that can affect the political stability of an administration. In such a political climate it is easy to understand why many Latin American countries are reluctant to participate in these swaps when there is a potiential further loss of their economic sovergnty. The intention and idea behind debt-for-nature swaps are noble but, the question comes up, † Are we really helping Latin American countries by interfering in their affairs? â€Å". Is this just more bad breath diplomacy? These debt for nature swaps are likely to only temporarly aleviate some of Latin Americas economic troubles. With these debts retired, they have access to new funds and the cycle of borrowing will continue along with the deforestation.