Crime in the Bahamas Essay

On the 6th April, 2011, shock waves were sent throughout the Bahamaland after the report of a brutal massacre of Nellie Brown-Cox. It is alleged that this crime was committed by her common law husband (Bahamas Press, 2011). This murder was a result of domestic violence, which is a crime that is committed among many residents in the Commonwealth of the Bahama Islands. Crime is ubiquitous, but can be alleviated if the necessary steps are applied. To further explain, certain aspects of crime can be evaluated by explaining the types of crimes, theories and reasons people commit crime, the effects of crime, and the solutions needed to minimize crime in the Bahamas. According to a definition used in a Civics class, crime is an act punishable by law, and within the Bahamas crimes are committed just about everyday. Though there are several different types of crime, the predominant ones in the Bahamas is robbery, domestic violence, sexual assault/rape, and murder. Firstly, robbery in the Baha mas is becoming increasingly popular lately especially with opening of the numerous Cash for Gold stores. Many persons are being robbed by criminals of gold such as chains, bracelets, anklets etc. to trade them in for money. There are many different types of robbery such as; armed or aggravated robbery, carjacking, and highway robbery or mugging. Secondly, Domestic violence is another type of crime that is enormously common within the Bahamas. Domestic violence is any type of abuse against another person. This type of violence can occur among husband and wife, boyfriend and girlfriends etc with no regards to race, age, sexual orientation, religion, or gender. One of the most devastatingly gruesome exhibits of domestic violence was the murder of Nellie Brown. Her murder was listed as number #227 in the most gruesome slaughter since the murder of designer Harl Taylor (Bahamas Press, 2011). Many individuals have controversial remarks about her life and why her lover may have killed her, the act was uncalled for and no one has the right to hit another even if he/she did them wrong. There are many cases of abuse reported within the Bahamas today such as: physical, sexual, and economic abuse. Police officers are constantly patrolling different areas to deal with reported cases of abuse. This type of crime can occur between a man and woman, gays and lesbian couples of any race and age. Many victims of this crime are married to their abusers and refuse to leave because of fear of what they will do. â€Å"If it takes the form of sexual violence, it can involve forcing people to watch or act out pornography, the denial of contraception, non-consensual sexual contact or rape; if it takes the form of emotional abuse, it can involve name-calling, humiliation, threats, intimidation, isolation from friends or families, denial of basic needs or financial access, or passive control involving, for example, threats to self-harm or commit suicide† (Gibbons, 2011). Our major crime in the Bahamas is murder. These senseless killings are tearing our country apart. The country our fore-fathers work so hard to build, and to make a better life for the future generations. â€Å"Most murders stemmed from arguments between acquaintances† (Hanna, 2011) this is true to full extent. There are many theories and reasons why Bahamians are committing crimes within the Bahamas. The theories why people commit crimes are biological or genetic, sociological and psychological. Many criminals are products of their environment. Many people commit crimes because of poverty, anger, addiction, gangs, bored or oblivious to the law. In today’s society many Bahamians are feeling the effects of the recession. Numerous individuals are losing their jobs, and those that are still working their wages are being cut tremendously. Large number of homes are being foreclosed and people are being left homeless. Many of them resort to crime to feed themselves or their families. Numerous people go through all sorts of struggles and trials and are unable to deal with their frustration. Anger can cause many people to do unintelligent things that they may regret later in life. Many people also are being killed through retaliation. This â€Å"eye for an eye† saga is growing rapidly within the Bahamas. In society many young people are recruited by older men and women to join a gang. There are numerous gang wars occurring in the Bahamas. Many days’ people break the law speeding through the streets, smoking ganja, having drag races on Sundays, turning without signaling etc. Some people do not mean to commit these offences but they are so preoccupied on the phone talking, texting or eating that they do not realize what they are doing or some people just do not care nor respect the law. Crime affects the Bahamas in several ways as a nation and a community. From a social aspect, the Bahamas’ crime rates are deplorable and increasing highly. With such a high crime rate, our community  spirit has deflated and the people are not as social or neighborly as they used to be. Many people who commit crimes are arrested and placed in prison. These criminals are dependent on taxpayers’ (national insurance) money which is provided by the labor force including teachers, bankers, and other government officials. This money can be used to refurbish schools, government offices etc. Our main industry Tourism is affected by high crime rates. It can discourage visitors from coming here because of the fear of being attacked or robbed. On the 20th November, 2009, eighteen tourists were robbed at gun-point while on a nature tour in Nassau, Bahamas (Tucker, 2010). This incident brought dreadful remarks about our country and our police department. This subsequently caused many tourists to change their minds about coming or ever returning to the Bahamas because of this unpleasant incident. Crime also influences the mindsets of our younger generation. They can grow to believe that committing crime is â€Å"cool† and an easy way to gain cash to supply their needs. Domestic violence, sexual assault and rape has a serious effect on many people’s live. Abusers do not understand the magnitude of this crime; they do not seem to realize that they are not only hurting the other person but also children if they are related in anyway. Many children who grow up in this type of environment suffer from behavioral, social and emotional problems, neglect, and may be directly abused themselves. Children may eventually grow up and become abusers or the ones abused. Many of these children become violent, may commit a sexual assault or do drugs. Some children who are sexually assaulted may become confused about their sexuality, or traumatized by the incident and become gays or lesbians. These innocent children may even evolve into criminals if the necessary treatment is not taken advantage of. These abused (mothers) persons may decide to end their lives or the abuser’s life to be free from the abuse or any memory of it. Crime is a tremendously increasing problem within the Bahamas today. If it is not solved it will rupture the foundations our fore-fathers laid. To prevent these numerous crimes from occurring many steps our government and â€Å"we† the Bahamian people should take to minimize crime. Many Bahami ans need to learn how to train their children to be respectable young men and women. Crime prevention starts from within the home. Now-a-days, children are disrespectful and rude, but their parents think it is â€Å"cute† and do not correct the problem  with discipline. Many also grow up with the perception that stealing is â€Å"okay†. They go into stores and steal treats such as candies, chips, gum etc. and parents do not reprimand them and tell them it is wrong and sometimes help them steal these products. When these children grow up, they become thieves because they think it is the way of life and that stealing is embedded in them because they have been doing it for so long! This may result in these children growing up to be menaces to society, or worse, becoming a guest of the government. Many Bahamians should keep a vigilant watch over their neighborhood and report any crime that took place to the police and agree to testify if needed. The government should also produce a witness protection law and agency for many witnesses of crimes. By forming this program, persons should not be afraid to come forward and testify because they are safe â€Å"in the arms of the law†. Criminals who are awaiting trial should be forced to wear an electronic monitoring device on them to track their whereabouts, mandate appr opriate curfews to monitor that they are adhering to the rules and regulations authorized by the court. Churches and the community should be call upon to assist in fight against crime. They should organize group sessions and activities to train young people how to become active in the community, teach them different skills and help in the rehabilitation of convicts. When children are busy in different extracurricular activities such as bands, Junior Achievement, Governor General Youth Awards etc., they will not have any spare time to get themselves into problems. There should also be jobs available for ex-convicts to make a living so they will not be tempted or feel forced to return to life of crime. The Bahamas should have a sexual predator’s registration list like our neighbors the USA. On the 3rd October, 2011, the Prime Minister of the Commonwealth of the Bahamas made his address on Crime and vows that he will do his best to reduce the crime rate. The Firearm (Moratorium) Notice, 2011 states persons must return to the police, licensed or unlicensed firearm, and ammunition from October 5th, 2011 to November 3rd, 2011. Any person convicted of possession of a firearm after the date will be imprisoned for a minimum of four years. These new laws will help tremendously because criminals will fear going to jail for that long period of time as opposed to the old minimum of two years (Restoring Your Trust, 2011). The Privy Council should be replaced and make our own Court of  Appeals our final judicial authority. This law should be amended and a new law should be in place to bring back the death penalty which is needed in our country. They also should enforce harder penalties for offenders of domestic abuse and offer treatment so this crime can be precluded from occurring again. There should be mandatory treatment for children who grow up in homes where domestic violence is prominent so abusers and those abused will not grow up into abusers. Any person convicted of heinous crime such as murder of children should be sentenced to death. There should also be the formation of hotlines and crisis centers to deal with abused victims. From the dawn of time crimes were being committed, as in the bible Cain killed his brother Abel over a sacrifice. Envy is the main factor in crime, and is in many crimes taking place in the Bahamas. Though this vermin (Crime) eats away through our society it can be r educed and eventually stomped out. By understanding the types of crimes, theories and reasons why people commit crime, and effect of crime, then we can understand why the solutions listed are needed within our society today. This problem cannot be eradicated, but can be contained and reduced if the required steps are taken. References Contractor accused of slaughtering his girlfriend, Nellie Brown. (2011, April, 8). Bahamas Press. Retrieved from http://www.bahamaspress.com/2011/04/08/28065/ Gibbons, L. (2011). Dealing with the effect of domestic violence. Emergency Nurse, 19(4), 12-17. Hanna, C.A. (2011). Reducing murder in the Bahamas: A Strategic Plan Based on Empirical Research. Bahamas: Nassau. Restoring your trust. (2011, October, 3). National Address on Crime – Prime Minister Hubert Ingraham [Video file]. Retrieved from http://www.youtube.com/watch?v=cIyVCMC3Q10 Tucker, J. (2010, May 31). The risk of tourist robbery in the Bahamas, Time Travel. Retrieved from http://www.time.com/time/travel/article/0,31542,1992105,00.html

International Management Essay

In the first article titled â€Å"Developing an effective repatriation strategy for MNC: A model and tools for international human resource management†, the authors explore the rather forgotten aspect of repatriates. This is a specific targeting the area of international human resource management. According to the authors, repatriated employees have not received the focus they should especially about their full inclusion into the companies. As such, expatriates have suffered on various fronts, ranging from the emotional disharmony to the general loss of contact to the company. The authors fault the fact that multinational companies have not been able to come up with policies and procedures to support these expatriates. They point out that these companies fail to accommodate the expatriates just as they fail to recognize the existence of this category of employees. They also point out the fact that companies have the responsibility to provide support services for their expatriate employees (Chew, 2008). The second article titled â€Å"Analyzing International Trade Patterns: Comparative Advantage for the worlds major Economies† focuses on the relationship between comparative advantage and other comparative factors in relation to the overall benefit obtained from having such an advantage by a country. The authors go ahead to analyze the comparative advantage of the major economies in the world. They bring out the single most important contributor to these countries’ high development as having its roots in the fact that they have succeeded in achieving high exports. The author brings out the fact that these countries put together, comprise over 80% of the global exports in terms of manufacturing products. According to the author, the achievement of high production of goods by these countries has in the end meant the cost of production has reduced. The high exports and resultant cost reductions on goods, makes such countries stronger economically and puts them above other countries. The first article brings into focus some forgotten but very relevant issues on expatriates. Indeed it is estimated that over 20% of the people working in most industries in developed countries are expatriates. The lack of strategies towards the full integration of such people has meant a great deal of discomfort to them. Mead (2005) agrees that there are issues applying to expatriates that need to be specifically addressed by policy makers. It is the mandate of the human resource department in companies to come up with strategies to absorb them. There are many benefits that accrue to a company that is able to employ expatriates. Apart from the special technical interests that they may bring to the company, they can also help the company in setting its global focus (Goderham, 2003). This can come in the areas of new markets or new global marketing fronts. As such it is of value that companies really think in terms of integrating such employees. The adoption process of such people however ought to be guided by policy and a development of strategies fully targeting them. The setting in motion of this process is informed by four major steps that the companies have to take. Indeed if companies were able to follow the four steps, they would benefit a lot from this category of employees. The first thing that companies have to do is to develop a policy. This should be a duty to be aggressively undertaken by the human resource departments of the companies. Companies have the mandate to come up with the policies that are aimed at integrating, supporting and hence adopting their expatriate employees. The second thing that should be done is the setting up of an agreement. This is in view to the fact that the difficulties and poor conditions of working encountered by the expatriate workers may not be similar to those experienced by the other category of workers. As such there should be a collaborative effort between the expatriates and the companies to ensure the terms are supportive to the expatriates present conditions and restrictions. The third thing is that companies should aggressively undertake efforts towards the development of an internal program aimed at monitoring issues on expatriate employees. Such a program should have the capacity to monitor the implementation of the strategies targeting expatriates. There should be a continuous process program (Goderham, 2003). The establishment of such a program should be finalized by the setting up of the necessary tools to evaluate its achievement of the objectives in helping the expatriates become fully integrated. The second article brings into focus another issue different from the first. The focus of this second article is on the idea of competitive advantage of countries. Indeed it is the main focus in many countries today as they strategize towards becoming great economic powers. The real concept communicated is that with an increased focus on exports much can be achieved. The focus on exports as a tool towards economic boost of a country is an old strategy. It is the main strategy behind the idea of mercantilism as used by the British. They knew that when they exported more and imported less, it would go a long way in making their economy grow. As such they sought to acquire more colonies as exclusive markets for their product. This dimension towards export, in the end ensures more benefits and a strong economy. The principle behind the idea of mercantilism is used by many developed economies in the world. They seek to export more and import less. This has in the end made them stronger economies. To understand the real impact from the exports towards boosting a country’s economy, there is need to understand three fundamental concepts and how these concepts interact to achieve what is called a country’s competitive advantage. These concepts are the relative costs, cost ratios and the absolute advantage. There is need to focus on these factors individually. Relative costs are those obtained in the comparison of the cost of an item against other items in the same country. This comparison in ratio terms is what gives us the cost ratio. The cost ratio is what can then be compared to the other countries to get a country’s absolute advantage. Absolute advantage itself is a factor indicative of a fall in production costs. The benefits of less production costs, usually trickle down to the economy and is what is felt as the boosts in a country’s economy (Ram, 2008). The idea of production costs going down is itself indicative that a country was producing and selling more. This directly points to exports. But to achieve large export sells, a country and its products must be able to fair considerably well compared against its competitors. This brings into focus the issue of competitive advantage and the underlying issues. The focus now is on how to be more competitive than the other, in this global economy. The answer here is this, that, the most innovative country will achieve more exports and hence better lives for its citizens.

Kot Task 1

Running Head: Active Leadership 1 Active Leadership in The Interdisciplinary Team KOT 1 Task 1 November 18, 2012 Running Head: Active Leadership 2 Leadership Strategies It is a fact that in order to produce a favorable client outcome, we seek guidance from our leaders. There are times when a nurse assumes a leadership role while not formally possessing that title. Two strategies for a nurse on an interdisciplinary team to exhibit are assuming a leadership attitude and acting as a mentor. Assuming a leadership attitude involves effective communication.To gain respect in an interdisciplinary group, one must give it as well. Feedback should be encouraged to allow fellow members to feel connected to the group. Leadership attitude involves setting the tone for teamwork to evolve. Respecting and valuing other team member’s opinions impacts their contribution to the goal at hand. When problems arise, it is essential that interdisciplinary groups work as a unit. Team members respect t hose individuals that exhibit a sense of mentorship. Mentors play an important role as they contribute both knowledge and experience.Mentors serve as good resources when issues and concerns need to be addressed. Running Head: Active Leadership Active Involvement 3 Clients benefit when interdisciplinary teams interact. Nurses must be actively involved to ensure that specific goals are met. In patient care, there are many types of staff involved. Every team member plays a vital role and must be respected. A nurse’s role in the plan of care is important. The nurse presents data like lab work, diagnostic tests and nursing assessments. This information is important in acquiring a common goal.Contributing Position Nurses often find themselves in a position where they can actively contribute in an interdisciplinary team. Two ways they can contribute are as patient advocates and educators. There are times when nurses may enlighten other team members to specific items such as lab work and diagnostic tests. A good example of patient advocacy is during a surgical procedure. While a client is under general anesthesia, the nurse serves as the clients advocate and care giver because they cannot fend for themselves.These contributions are vital in adding to the plan of care formulated by the interdisciplinary group. Running Head: Active Leadership 4 Culture of Safety Unfortunately, mistakes in healthcare can and will continue to occur. Healthcare providers may obtain a level of reduction in mistakes by contributing to a â€Å"culture of safety†, as indicated by J. Roughton (July 02, 2008). There are many examples of the idea of promoting a safetyinfluenced environment in a healthcare setting. One example comes to mind while considering the four characteristics of a culture of safety as indicated by A. Frankel and M.Leonard (2011). During a surgical procedure an operating room attendant notices that a sharps container is full. His job description does not entail the disposal of sharps. He decides that the issueat-hand must be addressed. He knows that because of active leadership, there is an air of comfort in expressing his concerns. Fear is reduced as his concerns are received openly and respectfully because of the psychological safety. Recourse is eliminated, as fairness is present in the system. Because of transparency, other team members will utilize the information to improve the decision making process.Running Head: Active Leadership 5 References Frankel, A. MD, Principal, Pascal Metrics Inc. Institute for Healthcare Improvement. Lesson ! : The Power of speaking up. PS 106: Introduction to the Culture of Safety p. 4 (2011). Michael, L. MD, Principal, Clinical Group, Pascal Metrics Inc. Institute for Healthcare Improvement. Lesson ! : The Power of speaking up. PS 106: Introduction to the Culture of Safety p. 4 (2011). Roughton, J (July 2, 2008). Characteristics of a Culture of Safety [web blog]. Retrieved from http://www. emeetingplac e. com/safetyblog/2008/07/02

Final paper Essay Example | Topics and Well Written Essays - 2000 words - 1

Final paper - Essay Example Those behind these acts claim that they are doing this to protect the interest of Islam. This has certainly not helped the cause of Islam. In fact this has made the life difficult for many of those following the religion. Incidents when leading personalities from many countries having Muslim names are harassed in the name of frisking at airports in US, UK and Germany highlight the kind of suspicions that has arisen in the western nations about those following Islam. Investigating agencies have been pointing towards organizations like Al-Qaeda and people like Osama Bin Laden for carrying out major terror acts happening around the world. Such revelations have in a sense brought the western nations on a collision course with Islam in general. But it is equally true that majority of the Muslims around the world not only denounce such heinous acts, but they are the worst sufferers. Therefore, why is it that the despite being at the receiving end the followers of Islam get labeled as intol erant. Therefore, it is a critical period for the Islamic world and they need to take on the menace head on in order to bring about some pragmatic changes in the attitude of the Western nations towards Islam. Some such steps could be; i. Gradually dissociating themselves from terror related groups: As of now the general impression is that, even if not many nations are supporting the terror groups, they are not coming out openly against those groups either. The silence could be because of some antipathy towards some of the policies of the western nations, but it is indirectly helping the cause of the terrorist outfits. This certainly cannot be done overnight and it has to be a gradual process, because in case of sudden announcements, those making such announcements will themselves become targets of terror outfits. ii. The terrorist activities cannot be carried

Okay for now by Gary Schmidt Coursework Example | Topics and Well Written Essays - 1250 words

Okay for now by Gary Schmidt - Coursework Example In the novel, we read about the relationship of Mr. Culross and Doug’s father. Although Doug’s father was working for Mr. Culross, he could terminate their relationship anytime he wanted. From this passage, we learn about Mr Culross’ character as a very cruel person who never cared about the rights of his workers. This character trait is also evident as Doug’s father could come home with a bandage on his face whenever he came from his boss working place, Culross Lumber Inc. (Schmidt, 2011, p. 5). At this instance, we are also able to learn about the character traits of Doug’s father. We see him presented as a humble person who has a lot of steadfast. He is able to work for Mr. Culross even though he receives poor treatments from him. From this passage, we can also understand the theme that develops from the relationship between Mr. Culross and Doug’s father. This is a relationship between the master and the servant or the between the employer and the employees. The theme that develops is that of poverty. Doug’s father is forced to work under a harsh condition in Mr Culross lumber industry because he was poor. It is poverty that makes him to withstand his boss’ cruelty. If he were rich, he could have quitted the job at Mr Culross Lumber Inc. and look for a different place. Another important part of the book is on page 21, the last paragraph continuing to the next page. From these incepts, we come to understand the role that Doug’s mother plays as a woman (Schmidt, 2011, p. 21). When Doug was coming down from the upstairs, he met his mother making some pancakes. From this statement, we learn about the trait of his mother. She is a responsible woman who takes care of the family. She would ensure that her husband have something to eat before he went to work. Apart from being responsible, she is also a hardworking lady

The impacts of exhibitions on customer buying decision-making ------ A Dissertation

The impacts of exhibitions on customer buying decision-making ------ A case study of International Auto-expo - Dissertation Example This gives a broad scope of the actual concept and its related and correlating ideas. The research is then complemented by a field work which interviews consumers who made purchases that can be traced to the Beijing International Automotive Exhibition as well as exhibitors and other experts in the industry. This culminates in a number of findings that are critiqued and analysed. It is identified that consumers who make purchases in the international automotive exhibitions belong to a small group of privileged elites. These are people who take their decisions based on ostentation which focuses on luxury and country of origins. Premises in the automotive expos in China are best presented in a hybrid format and system. Also, the collectivist and socio cultural systems and structures of China still play a major part in consumer buying decisions in these fairs. It is recommended that the information and presentation in Chinese international automotive fair must be watched. Also, the techn ological offerings and the innovation on offer must be showcased in the exhibitions. Finally, there must be a strong and appropriate digital system and structure to gather information for follow up as the market is very small and specialized. TABLE OF CONTENT CHAPTER 1: INTRODUCTION 1.1 Background 1.2 Research Problem 1.3 Research Questions 1.4 Research Aim 1.5 Objectives 1.6 Motivation for Research 1.7 Research Approach 1.8 Project Outline CHAPTER 2: LITERATURE REVIEW 2.1 The Exhibition Industry 2.2 Motives, Targets and Standards in International Auto Exhibitions 2.3 Consumer Decision-making & the Exhibition Industry 2.4 The Automobile Industry: Analysis of Foreign and Local Brands in Automotive Exhibitions 2.5 Consumer Psychology in the Automobile Industry 2.6 Decision Making Triggers in the Automobile Industry 2.7 Event Management in International Auto Shows 2.8 Marketing Techniques in International Automobile Exhibitions 2.9 Impact of International Automotive Fairs on the Social and Economic Activities of Consumers 2.10 Cultural Trends amongst Chinese Consumer Psychology 2.11 Gaps in Research 2.12 Conclusion CHAPTER 3: RESEARCH METHODOLOGY 3.1 Research Approach 3.2 Sampling 3.3 Data Collection 3.4 Data Analysis 3.5 Data Interpretation 3.6 Ethical Matters CHAPTER 4: RESULTS 4.1 Interview with Experts 4.2 Survey Results of Interviews with Industry Players/Exhibitors 4.3 Consumer Impact Analysis 4.4 Conclusion CHAPTER 5: DISCUSSIONS 5.1 Expert View of the BIAE 5.2 Exhibitor Offerings, Motives and Targets 5.3 Impacts of BIAE on Consumers' Buying Habit and Decision Making 5.4 Conclusion CHAPTER 6: CONCLUSIONS & RECOMMENDATIONS 6.1 Patterns in Consumer Decision in the Chinese Automotive Industry 6.2 Core Enhancers of Consumer Purchasing Decisions in the BIAE 6.3 Consumer Buying Habits amongst Chinese Consumers in the BIAE 6.4 Recommendations for Enhancing Optimal Practices in International Automotive Exhibitions REFERENCES APPENDICES Appendix 1: Interview Questi ons with Marketer/Organiser of Expo Appendix 2: Marketer Questionnaire Appendix 3: Survey on Automobile Consumers and Attendants of International Automobile Exhibitions CHAPTER 1: INTRODUCTION This chapter of the dissertation will discuss the basic elements and structure of the project. It will commence by examining the background of the main variables to be discussed in the actual research. This will culminate with the identification of

Estate Plan for the Wright Family Essay Example | Topics and Well Written Essays - 2500 words

Estate Plan for the Wright Family - Essay Example Contextually, it could also be to circumvent any future challenges posed by his former wife on his assets, joint or individual. From the point of view of Margaret, the driving force of the plan would be in ensuring that only her husband, Tom benefits from her assets, and not his ex-wife and/or son. It is also necessary to have estate planning in place in order to overcome the sudden and unexpected death of spouse, in that it could provide for safety and comfortable living for the remaining members of Tom's family, should such an eventuality occur, especially if the spouse dies intestate (without providing a will) or testamentary documents. Will formation, a part of estate planning is an important and crucial exercise for all married couples and families, since the advantages and benefits associated with a person dying with a will or probate outweigh the risks and detriments associated with dying intestate. Tom is an accounting partner in a medium size accounting firm. While his earnings have been satisfactory, Tom's earlier marriage was annulled and he had to make heavy borrowings to pay off the divorce settlement. He has an eight year old son from his previous marriage and the upkeep expenses of his son are routed through a Trust, funded by an advance of his inheritance from his parents. As per current Australian tax laws, the capital amount of this trust has been earmarked for the benefit of his son "as a result of family breakdown." (Income tax assessment act 1936- sect 102aga n.d.). Current personal circumstances: Tom's present wife, Margaret has completed her medical studies and internship, and is currently employed in a local clinic for the last two years. She is competent and confident of gaining partnership status in her present employment. She proposes to be back in her clinic on part-time basis, after a period of six months after delivery of her first child. With her savings and amount received as inheritance from her parents, she has made investments in property in her individual name. Her main intentions are that her income and assets be shared only with her husband and not enjoyed by his former wife and son. Beneficiaries' circumstances: Tom's present beneficiaries are his wife, Margaret and at a later stage his children. His former wife and son have been adequately provided for by his settlement and the trust created for child support of the boy. He is not keen on making any more separate allocations to them, seen they have been well provided for, under divorce settlement. Current assets and liabilities and how owned: Tom's assets: 1. Goodwill in the accounting firm where he is partner 2. Share in the assets (Plant and Equipment) of the trust which he solely controls. 3. Equity in the Life Insurance policy on Tom's own life 4. Balance of superannuation funds 5. House property owned jointly with spouse, Margaret 6. Trust which has been earmarked for son of earlier marriage Tom's liabilities: 1. Mortgage payment on house property owned jointly by him and Margaret. This house has been 80% mortgaged and bills need to be paid. 2. Trust payments for maintenance of his son. 3. Life insurance premium on own life 4. Debts incurred for divorce settlemen

Internet Technology, Marketing, and Security Assignment

Internet Technology, Marketing, and Security - Assignment Example 1). The reasons that have been identified for the overwhelming popularity of SMM among business are as follows: (1) Customer Interaction and Feedback. SMM offers opportunities for business organizations to directly encourage feedback from customers and therefore enable them to address any weaknesses noted or areas for improvement. As emphasized by Hastings and Saperstein (2010), â€Å"today, more than ever before, businesses can not only listen to customers, they can invite customers to help shape the company activities. Customers have input on which products to develop with which features, how events should be planned, and what kind of meaningful dialogue they’d like to have† (par. 5). This reason therefore assists business organizations in immediately determining the reaction of customers through solicitation of their feedback, which is one of the most beneficial uses and reasons for SMM’s popularity. (2) Generate Traffic to Social Networking Websites. Accordin g to Prince & Rodgers (2012), generating traffic to identified social networking sites is made possible through target customers’ sharing â€Å"branded and highly relevant content with users who, in turn, pass your content to like-minded people they’re connected to† (Prince & Rodgers, 2012, par. 1). ... Likewise, as noted: â€Å"there was 800% traffic gain to its website†¦Additionally, the number of live Tweeter feeds relating to the Pepsi Refresh Project being streamed across Google grew tremendously in a short time†. This reason has been proven, therefore, to be effective in increasing target audience reach at a relatively short span of time and minimal expense compared to other advertisements or promotional campaigns. (3) To achieve the goal that the organization is targetting on a least cost yet greater target audience reach. As emphasized by (Prince & Rodgers (2012), â€Å"a core objective of social media marketing — or of a thought leadership campaign, for that matter — is to gain â€Å"mindshare.† You want to be top-of-mind when potential clients or customers are interested in products or services you can deliver. You want to provide content your preferred audiences find so appealing and beneficial that they’re motivated to pass it onà ¢â‚¬  (par. 6). One of the goals of the SMM has been identified to â€Å"generate interest in your offerings† (Prince & Rodgers, 2012, par. 1). Through the use of this strategy, business organizations are able to achieve their organizational goals, as well as the objectives identified in the particular project or promotional campaign; thus, increasing its popularity among business organizations. 2. Analyze the advantages and disadvantages of Social Media Marketing for business entrepreneurs. According to the Marketplace for Entrepreneurs (2012), there are seven benefits of SMM, to wit: â€Å"(1) increased customer acquisition; (2) powerful word-of-mouth marketing; (3) increased brand awareness; (4) customer retention; (5) market research; (6) keep an

Human resources management. Personal Case Study Reflection Essay

Human resources management. Personal Case Study Reflection - Essay Example Instead of hiring another architect to succeed him, the position was united with that of the SMA in an affiliate mall. Since the current SMA with expanded duties held office in another mall and only remotely communicated with Robinsland, a ‘stand-in’ was assigned with whom he could coordinate. This was Edna, who worked as technical clerk in the leasing department, a marketing group. Leasing was a logical unit to relate with the mall architects because they dealt with tenants. As junior architect, Charles’ main job was to coordinate with the tenants and conduct inspections of their units, making sure that they met the mall standards for repair and refurbishing. As soon as Edna began her new function, friction erupted between her and Charles. Edna was heard fuming: ‘OMG, Charles, you are the reason for all my problems! You are the technical person, you should know this!’ When interviewed by the Group Manager (GM), Charles expressed that he was always stressed, and he and Edna had communication problems. Charles was demoralised and was thinking of resigning. However, the GM felt that he had great potential in the company, and wanted him to stay, also because architects were getting harder to recruit for mall operations. Issues and their causes The issues in this case are squarely within the sphere of human resources management and deal with how individuals behave in relation to each other in an organisation. There are three principal issues that surfaced. Staffing The first is the issue of staffing, which is broadly defined as â€Å"the process of determining human resource needs in an organisation and securing sufficient quanti ties of qualified people to fill those needs† (Caruth, et al., 2009, p. 2). Specifically in this case, the issue revolved around the assignment of duties on the basis of convenience, not capability. The facts showed that Edna acted as bridge the role of junior architect and SMA, yet was not an architect. Expanding the scope of duties of the other SMA over two malls was a mistake because the individual occupying that position cannot effectively discharge his duties particularly pertaining to Robinsland. Charles may be an architect, but as a junior he has no prerogative to decide matters that Edna knew nothing about. Organisations’ staffing policies should require that the individual possess the skills and knowledge to discharge the duties. Motivation The second issue is that of motivation, defined as â€Å"those psychological processes that cause the arousal, direction, and persistence of voluntary actions that are goal directed† (Mitchell, 1982, p. 81). In this d efinition, the meaning of â€Å"goal† is admitted even by experts to be ambiguous. One construct can mean â€Å"achievement goal† such as those encountered in a school or sports setting (Shah & Gardner, 2008, p. 238). In this case, however, while achievement goal may apply, it seems inadequate in explaining the cause of the conflict. Aside from the purpose of achieving the goals of their functions, Charles and Edna were also motivated by personal goals – for Charles, the fulfilment of his architectural interests, and for Edna, the need to be recognised as competent in her new job. Supervisory training It is noticeable that Edna’s designation as â€Å"technical clerk† is rank-and-file and not supervisory. A supervisor is one who is put in charge of rank-and-file personnel and is the first line of management in the organisation (McConnell, 2011). The supervisor’

Mergers and Joint Mergers Essay Example for Free

Mergers and Joint Mergers Essay The following paragraphs will discuss week fours readings that covered vertical mergers, horizontal mergers, conglomerates, and joint ventures. Companies use mergers and joint ventures to increase profitability and efficiency. The following paper will go over the three alliances as well as a joint venture and how it differs from the mergers. Each business arrangement is used to attempt an improvement for the company, the important thing to remember is which will be most beneficial and why. A horizontal merger occurs when two competing companies in the same market joins together to become one firm or one identity. The two companies could have an influence on the competitive market if the companies have a large percentage of that market. The result of the two companies combine will be an increased advantage over their competitors. If the two groups are joining together are small businesses, they could have little to no advantage over their competitors in the market. For example, if two unknown mobile cellular companies merge to increase their services and products, the affect on the existing market could be minimal. If two well-known mobile providers such as Apple and Samsung combine in the market of mobile cellular phones and different accessories, it would give them an advantage over their competitors because of their popularity. The companies have a larger impact on the market at this time with the latest IPhone and Samsung Galaxy.  Therefore; a competitor has a large percentage in the market would decrease barriers of entry for new competitors. A vertical merger occurs when two companies that are next to each other on the supply-chain decide to become one entity and use it as a way to gain a competitive advantage within the marketplace. For instance, a manufacturer merging with a supplier of essential components or raw materials or with a distributor or retailer that sells its products. The goal of vertical mergers is to improve efficiency or reduce costs. Vertical mergers can help to secure access to critical supplies and help to reduce overall costs by eliminating the costs of finding suppliers, negotiating deals, and paying full market prices. It can improve efficiency by synchronizing production and supply between the two groups and ensuring that supplies are available when you need them. A vertical merger can help deal with competitors by making it difficult for competitors to obtain vital supplies, therefore, weakening existing competitors and increasing barriers to the entry of new competitors. Lets take a look at the technology advancement implemented for the creation of a new iPhone. Apple will merge with the suppliers and distributors for the benefit of having the production accessible for the company when manufacturing and distributing the product. In the world of business, there are times when companies can merge in order to expand their operations in other markets, and possibly lower the risk of the company by doing so. Combining activities, which in turn, will increase their efficiency, can eliminate redundancy between the two organizations. At times, this merger can involve corporations that offer entirely different services or products. These types of mergers are referred to as conglomerate mergers. A conglomerate is a corporation that is made up of a number of different, seemingly unrelated activities. In a conglomerate, one company owns a controlling stake in a number of smaller companies, which conduct business separately. Each of a conglomerates subsidiary companies runs independently of the other business divisions, but the subsidiaries management reports to senior management at the parent company. (investopedia.com). Some examples of conglomerate mergers viewed between Proctor Gamble and Gillette, Walt Disney and the American Broadcasting  Company, and ITT, Avis Rent-a-Car, Sheraton Hotels and Continental Baking. To the typical consumer, mergers like the ones listed above do not make sense, but it the world of business; there are positive benefits for all parties involved. Unlike a merger, a joint venture does not require dissolution of their original business or change the organizational structure, but rather two business entities join forces to undertake a single project or aspect of business. The only similarity between the two is that they both include two business entities joining together. A joint merger is a short-term partnership in which the persons jointly undertake a transaction for mutual profit as well as each person contributes assets and share risks. Joint ventures can also be used by companies to gain entrance into foreign markets. Microsoft entered into a joint venture with NBC to create MSNBC. The two companies ventured to bring business news to the television and online. While the two are joins as one for MSNBC, Microsoft and NBC have their companies. Microsoft has their business market in online products and technology. NBC has their television broadcasting network. The two businesses do not affect each other. The two companies maintain ownership of the entity. When two or more companies agree to combine into one entity, it will be referred to as a horizontal, vertical, or conglomerate merger. On the other hand, when two or more businesses enter into a joint venture for a specific object will not incorporate the companies as one. The companies will be able to work together for the new entity, but their overall concept of their business will remain the same. Meaning the companies can perform their business separately from the joint venture. References: Joint venture, (n.d.). Retrieved from http://www.law.cornell.edu/wex/joint_venture Mergers vs. Joint Ventures: Whats the Difference? (2012). Retrieved from http://www.brighthub.com/office/entrepreneurs/articles/82448.aspx Kim, E. (2012), CNNMoney: Retrieved by http://money.cnn.com/2012/07/16/technology/microsoft-nbc-split/index.htm Scilly, M. (2014), Houston Chronicle: Difference between Mergers and Joint Ventures, Retrieved from:www.smallbusiness.chron.com

Substitution and Income Effect

Substitution and Income Effect Tendekai Mudariki The price of any given product will always change the customer’s choice of purchasing this can be in terms of quantity, quality or choosing the opportunity cost. In my essay I will be looking at how an increase in prices affect the substitution effect and the income effect and how customers react if the good has many close substitutions when there is an increase in price. Under the Substitution effect it suggest that the rise of the price in a good or decrease in income will leave the customers having to choose the alternative goods for example when the price of Coca-Cola drink raises this will lead to the rise of demand in Pepsi because Pepsi is the next best thing to a Coca-Cola. The substitution effect can also be used in reference in how workers can have a pick between leisure and wages, the more money on wages the less leisure time since wages will be more profitable than leisure. This effect tends to limit the customers buying demand behaviour that is limiting the choice of the consumer since they will not be able to purchase their choice of good.as shown below (in figure 1.1) The impact that a change in the price of a good has on the quantity demanded of a certain good, this will always lead to change in relative prices the rise of the price will make the quantity demanded to be less forcing some of the customers away to the next best thing tha t they can have. The income effect is the response of the quantity that is demanded to a change of real income or the price that is the rise of price in goods, (refer to figure 1.1) in the graph below shows the demand curve as it links up the relationship between the price of a certain item and the quantity that is demanded that is over a certain time. When the price falls there are two reasons why there will be more demand and this includes the substitution effect and income effect .the impact that a change in the price of a good has that effect on the quantity demanded of the good which then leads to the change of price of the good (substitution).the impact of a change in the quantity demanded of the good due to the change of their real income not being able to meet the quantity of goods that will satisfy them but still buy the good anyway but only have to make it lesser. The demand curve enlightens up the relationship between the price of the goods and the quantity demanded that is after a period of time. Considering both sides the substitution effect as shown on the diagram above from both sides of a price change that is going up and down. If we consider the both sides the higher the price an increase in price causes a decrease in the relative prices of substitute goods. Buyers tend to buy more of the other substitute goods and less of the good. The result is a decrease in thequantity demanded, and the lower the price then it leads to a decrease in price causing an increase in the relative prices of substitute goods. Buyers are inclined to buy less of the other substitute goods and more of this good. The result is an increase in the quantity demanded. As price falls, a person’s opportunity cost of purchasing the product falls as shown in the diagram above. A good with many close substitutes is likely to have an elastic demand .This is due to the price rise, buyers can actually choose to buy one of the close substitutes if there is a price increase of a good by shifting to one of the cheaper substitutes. However fewer substitutes’ choices will limit the options to shift. It is Important to distinguish between the income effect and the substitution effect of a price increase and the separation of the two is shown in figure 2 and it’s called the indifference theory. The price change can affect the way the buyers decisions in terms of buying staff this is called the income effect. Increases in price, while they dont affect the amount of your available budget, make you feel poorer than you were before, and by so you buy less of the product. Decrease in the price make you feel more superior and confident in terms of buying, and can the lead you of buying more of that good. When price increases, the demand for x changes because (1) good x is now more expensive relative to good y, and (2) the consumer’s purchasing power has gone down. Substitution Effect—the change in demand resulting from a change in the price ratio, leaving utility unchanged. Income Effect this is the change in demand resulting from the change in purchasing power (movement from the initial indifference curve to the final indifference curve), leaving the price ratio unchanged. The total effect = substitution effect + income effect. The substitution effect is always negative, due to diminishing MRS. The income effect is negative for normal goods(the substitution effect), and positive for inferior goods. A giffen good is an inferior good with the unique characteristic that an increase in price actually increases the quantity of the good that is demanded. This provides the unusual result of an upward sloping demand curve. This happens because of the interactions of the income and substitution effects. Depending on whether the good is inferior or normal, the income effect can be positive or negative as the price of a good increases. An inferior good means an increase in income causes a fall in demand.an inferior good has a negative PED. An example, of an inferior good is Tesco value bread. When your income rises you buy less Tesco value bread and more high quality, organic bread. Normal Good This means an increase in income causes an increase in demand. It has a positive PED. Note a normal good can be income elastic or income inelastic. The graph below shows the income effect and the substitution effect of a price increase for a normal good and inferior goods after a rise in price of a certain good. The Income Effect is the effect due to the change in real income. When the price goes up that means the consumer is not able to buy as many bundles that she could purchase before. In real terms this means that the customer now feels poorer. On the diagram 1.3 it shows the quantity of goods consumed for a normal good and it shows the figures A=14, B=4 and C=7 .from C to A it shows the substitution effect after subtrac ting 14 from 7 and from C to B after subtracting 7 from 4 it shows the income effect and the total effect is the total between the substitution and income effect as shown in the diagram (-7-3=-10). The same workings also applies to the inferior goods too. As shown in the diagrams when the price of the good goes up the quantity goes down Summing up my essay if a good is inferior, a drop in income (represented by a price increase) increases the quantity of the good that is demanded. The substitution effect is negative for any good that experiences a price increase. A giffen good faces an upward sloping demand curve because the income effect dominates the substitution effect, meaning that quantity demanded increases as price rises.

The Monetary And Fiscal Policies Of Portugal Economics Essay

The Monetary And Fiscal Policies Of Portugal Economics Essay I. Introduction: Portugal macroeconomic situation before the crisis. Despite economic and financial crises seem to be regarded as unusual and rare, in reality they are common events. Particularly, Portugal has already seen its worst financial crisis in 1891. This crisis led Portugal to abandon the gold standard and the country was banned from borrowing in international financial markets during 20 years (Lains, 2007, p. 485). Since then, Portugal has radically changed, however, its weakness in facing the crises has remained. During the last economic and financial crisis that started in August 2008, the Portuguese economy was caught in the middle of a period of adjustment during which was already facing up to the need to correct its fiscal and external imbalances within a phase of low growth with pro-cyclical policies (Torres, 2009, p.55). This period started in the second half of 1990s with the accession to the Economic and Monetary Union (EMU) and was characterized by an economic boom which was followed by a slump. As a matter of fact, Blanchard (2007, p.1), two years before the crisis, stated that the Portuguese economy is in serious trouble: Productivity growth is anemic. Growth is very low. The budget deficit is large. The current account deficit is very large. Although, from 1995 to 2001, Portugal was in a catching-up phase benefiting from positive wealth effects of EMU (lower interest rates which supported the increase of the domestic demand), the current account deficit rose drastically and the unemployment rate fell to about 4% (figure 1). The reason behind the increase in the current account deficit was, indeed, the low level of unemployment which boosted the nominal wages to increase more than the labour productivity provoking a huge raise in unit labour cost and a decline in competitiveness. Moreover, the indebtedness of households and non-financial enterprises was increasing because of the elimination of the exchange rate risk, the access to the euro bond market, and the lower interest rates, both nominal and real, set by the European Central Bank (Blanchard, 2007). As result, from 2000 to 2003, savings dropped and investments increased, therefore the current account deficit slightly decreased. The Portuguese economy slowed down and then contracted in 2003. The subsequent slump was the result of the large imbalances built up during the phase of boom. For instance, the high levels of consumption were not counterbalanced by the supply which had to deal with low productivity growth and increasing unit labour costs. As a matter of fact, figure 1 shows a combined upward trend of unemployment and current account deficit between 2003 and 2005, and the attempt to reverse it through the budgetary consolidation process re-assumed by the socialist majority government elected in 2005 (Blanchard, 2007) (Torres, 2009). To sum up, table 1 and table 2 offer an overview of the macroeconomic imbalances during the phase of the boom 1995-2000 and the one of the slump 2001-2007. Table 1. Macroeconomic evolutions, 1995-2001. Source: Blanchard (2007) Table 2. Actual and projected Macroeconomic evolutions, 2001-2007. Source: Blanchard (2007) The growth rate was rather high in the timeframe 1995-2000, then, since 2001 it started falling in the subsequent years. The current account and the budget surplus were in deficit over the whole observed period and the productivity growth started to be very low since the year 2000 causing the raise of the unit labour cost. It was important to describe the macroeconomic situation of Portugal prior to the crisis in order to explain, in the next sections, how those problems have been aggravated since 2008. In fact, the phase of slump was prolonged by the financial crisis occurred in 2008. II. Policy Responses Prior to analyze the European and Portuguese policy responses to the major financial crisis that the whole world is facing since 1929, it is essential to point out what kind of crisis our society is dealing with. The main cause of the crisis may be ascribed to the crisis of derivative market in the United States. In particularly, it started from the so-called subprime mortgage crisis which was the result of a speculative bubble in the housing market in the United States. Starting from the United Stated, it has spread by causing ruptures across many other countries in the form of financial failures and a global credit crunch. The main (systemic) Portuguese banks seem not to be particularly exposed to the so-called financial toxic assets and, unlike in Ireland or Spain, there was no speculative bubble in the housing market in Portugal nor is there a subprime segment in the credit to the housing sector. (Banco do Portugal, 2008 as cited in Torres 2009) However, according to Torres (2009, p.56): Portugal, a small economy fully integrated in economic and financial terms, is particularly affected by the global financial crisis and economic recession. This is not so much due to the international exposure of the Portuguese banking sector (the Iceland syndrome) but primarily to the countrys long protracted correction of its fiscal and external imbalances, which worsen its creditworthiness and aggravate the costs of servicing the debt and the countrys perceived risk of insolvency (an Argentinean type of problem, without the risk of a currency crisis as long as the eurozone remains in place). One of the main consequences of the financial crisis was, indeed, the credit crunch. During the last decades, the European banking system has changed from a system where the bank was the intermediary for investments between families and factories, into a new system where there are large money-centre banks which play the role of the intermediary amongst regional banks, in other words, they distribute funds among regional banks. The banking crisis has occurred in Europe because of two related reasons. The large money-centre banks that provide the backbone of the inter-bank lending market are undercapitalised. With their low capitalisation, they are vulnerable to even small swings in market conditions. Any liquidity problem, thus, turns almost immediately into a solvency problem. Because of this vulnerability they did not trust each other, thus paralysing the inter-bank market. 2.1 European Policy Responses For the Euro-area countries, the monetary policy is unique and conducted by the European Central bank (ECB). Since the atmosphere of mistrust, caused by the crisis, was no longer confined to the interbank market, but it was also spreading among ordinary citizens and consumers, the European policy-makers figured out that one possible solution was to put into effect measures which contain two elements in order to restart the interbank lending: support for the liquidity management of banks and bank re-capitalisation. The first element concerns the extraordinary measures taken at European level and the second one the bank rescue measures adopted at national level. As a matter of fact, firstly, the ECB has been reducing the rate for its main refinancing operations from 4,25% to 1,5%, in the timeframe October 2008 March 2009, in order to prevent contagion by providing short-term liquidity support on the interbank markets. Such interest rate cuts have provided significant relief to the highly indebted Portuguese economy (Torres, 2009). However, if Portugal could have managed the monetary policy on its own, probably it would have set a lower interest rate which combined with the initiative for strengthening financial stability (discussed in detail in the next section) could have led to the reestablishment of bank lending standards at pre-crisis level. In other words, the upward trend of the credit diffusion index, starting in the last quarter of 2008, could have continued to increase instead of contracting in 2009 (figure 3). Moreover, a dramatic reduction in real interest rates is the main channel through which fiscal consolidation can increase demand in the short run. Since this is not the case for Portugal, as the nominal interest rate is determined for the eurozone as a whole, while a deficit reduction is needed, it would be unwise to expect it to lead, by itself, to higher demand and lower unemployment à ¢Ã¢â€š ¬Ã‚ ¦ or à ¢Ã¢â€š ¬Ã‚ ¦ to a boom in investment, and through capital accumulation, to a substantial improvement in competitiveness (Blanchard, 2007, p.8-9). Secondly, the ECB has promoted coordination and cooperation between national supervisors through the European System of Central Banks Banking Supervision Committee. As result, the promoted cooperation engaged both the Euro-area and the European Union (EU) in an expansionary coordinated anti-cyclical fiscal stance (Torres, 2009, pp. 56-59). To further improve the EU coordinated approach, the European Commissions response was to launch the European Economic Recovery Plan (EERP) whose strategic aims is to avoid a deep recession by promoting a counter-cyclical macro-economic response to the crisis in the form of an ambitious set of actions to support the real economy. The plan consisted of an immediate budgetary stimulus amounting to 1.5% of EU GDP, a number of priority actions, grounded in the Lisbon Strategy, and designed at the same time to adapt our economies to long-term challenges, continuing to implement structural reforms aimed at raising potential growth and a set of EU guidelines to be followed by the member States (European Commission, 2008). According to Bà ©nassy-Quà ©rà © et al. (2009, p.39), out-of-ordinary methods are used in a financial crisis because: the traditional transmission of policy rates to lending rates is hampered by the dysfunctional state of money markets. This happens at two levels: first, the interbank rate (the rate at which banks lend liquidity to each other) diverges from the central banks policy rate because banks fearing counterparty default price risk accordingly; second, the spread between the commercial banks lending rate and the interbank rate increases both because of higher risk premiums and because banks seek to increase their profits. According to Meier (2009, p. 6), a switch to unconventional policy may be motivated by the severe turmoil in credit markets. With the financial sector in crisis, policy rate cuts are not only constrained by the zero bound, but may also be less effective than during normal times. The reason is the sharp tightening of credit conditions, as lenders have curtailed loan supply and certain sources of capital market funding have all but disappeared. Indeed, such dislocations can provide a rationale for launching unconventional policies even before interest rates hit the lower bound. In sum, unconventional monetary policies serve both as a complement and as an extension of standard operations centered around the setting of short-term interest rates. One of the unconventional actions is the so-called outright asset purchase, a technique to decrease the discrepancy between interbank and lending rates. Furthermore, Meier (2009) provides a categorization of such operations, distinguishing between qualitative easing, as sterilized interventions that do not involve an increase in the central banks balance sheet, and quantitative easing, as unsterilized interventions implying an increase in base money. Unlike the US and the UK, in the Eurozone the direct purchase of government debt instruments is forbidden by art. 101 of the EC Treaty, therefore quantitative easing is not contemplated. Figure 2 shows how liquidity provisions and out-of-the-ordinary policies, adopted by ECB, Federal Reserve (FED) and Bank of England (BOE), increased the size of the central banks balance sheets. Assets hold by the ECB are about 50% lower than FED and BOE because they executes quantitative ease operations (Bà ©nassy-Quà ©rà © et al. 2009, pp. 42-44). 2.2 Portuguese Policy Responses With the financial crisis Portugal has re-focused its economic policy from budgetary consolidation to an anti-cyclical budgetary policy effort to support households, investment, employment and, last but not least, to strengthen financial stability (MFAP 2009 as cited in Torres 2009). At the end of 2008, to guarantee stability of the financial system and to safeguard the households deposits held by credit institutions, the Portuguese government, following the trend of the other member states, decided to save two banks: the Banco Portuguà ªs de Negà ²cios (BPN) and the Banco Privado Portuguà ªs (BPP). In particular, BPN was nationalized and BPP was granted a guarantee for a bank loan provided by a group of banks. Although the dimension of those banks was small, the government feared that the potential loss incurred by many small depositors could generate a run of bank depositors in general, putting at risk the stability of the financial system (Torres, 2009, p.61). The second measure to strengthen financial stability was taken in October 2008 when the Portuguese Ministry of finance and public administration announced the endorsement of the Initiative for strengthening financial stability (ISFS) in order to respond to the substantial external shock, to which it was being subject, due to severe liquidity restrictions in international financial and money markets. The ISFS was aim to enhance conditions for credit institutions access to liquidity in financial markets and was based on granting State guarantees for the financing of credit institutions. According to MFAP(2008), this Initiative: (i) Enhances the confidence in the domestic financial system; (ii) Permits timely intervention adapted to market conditions; (iii) Is temporary, remaining effective only while market conditions have not returned to normal; (iv) Safeguards the interest of depositors and taxpayers; (v) Allows the shareholders and managers of banks to be held accountable whenever necessary and fosters the adoption of good corporate governance principles, in accordance with best international practices; (vi) Safeguards the interests of the market in general and a level playing field among competitors, in particular. According to Torres (2009, p. 60), the aim of the coordinated guarantees on new issuance of bank debt was to address funding problems of liquidity-constrained but solvent banks. Thus, this initiative was a viable and less costly source of funding to allow banks to issue new debts. A third measure was to take advantage of the increased flexibility of the Stability and Growth Pact (SGP) to pay outstanding state debts under the form of a program for the extraordinary settlement of the states debts to suppliers (Council of Ministers Resolution no. 191-A/2008 of 27 November as cited in Torres 2009). However, in my opinion the results of those initiatives were rather limited. I can, indeed, argue that, in Portugal, bank lending standards are tightening. In support to my opinion, figure 3 provides an evidence: the largest observed swing occurred from the last quarter of 2007 to the last one of 2008 when the diffusion index dropped sharply to the minimum observed value, representing the credit crunch. To evaluate the effects of the ISFS it is sufficient to look at the trend starting from the last quarter of 2008, the upswing lasts for only a quarter to stabilize at the level of about minus 45% compared to the pre-crisis conditions. The 19th of January 2009, the Portuguese government updated the Stability and growth Program for 2008-11. Following the EU guidelines concerning EERP, the government incorporated in the SGP program the Investment and Employment Initiative Program (IEIP), as fully consistent with the National Reform Plan for 2008-2010 (within the framework of the Lisbon Strategy), as it also aimed at contributing to addressing the countrys structural weaknesses. The draft law creating the IEIP was composed of five structural measures including several projects or actions to support households and businesses next to those aimed at combating the rise in interest rates and in the price of raw materials and food products and credit restrictions, which had already been envisaged in the state budget for 2009.. The IEIP was expected to have a budgetary impact of about 0.8 per cent of GDP in 2009 (about 0.5 increase in expenditure and 0.3 reduction in revenue in percentage of GDP). The five measures were: modernization of schools; fostering renewable energies, energy efficiency and energy transmission infrastructure; modernization of technological infrastructure and new generation broadband networks; special support to economic activity, exports and SME; protecting employment and strengthening social protection (Torres, 2009). 1). Higher investment in human capital help to avoid the risk of depression of productivity performance. In Portugal the educational attainment of the working-age population is low and the intergenerational educational mobility has been sluggish. Furthermore, the international student performance survey (PISA) shows that Portuguese students are below the OECD average (figure 4). To increase efficiency, the smallest schools have been closed and changes to the teachers timetable are allowing a more efficient allocation of human resources. Moreover, upper-secondary education has been diversified to incorporate technical and vocational courses (OECD 2009). and 3). Portugal might take advantage of the temporary increase in spending under the recovery plan to promote a leap forward to new competitive green goods and technologies. There is a clear case for the world, and for the EU to maintain its leadership in the process, and even more so for a small country like Portugal, to address climate change and the financial crisis at the same time by building up a competitive basis for sustainable development (Torres, 2009, p.66). Activity collapsed at the end of 2008 under the weight of the global economic crisis. The huge decline in external demand was caused by the falling activity in a number of Portugals major export markets, particularly Spain which accounts for about 25% of portuguese total exports. Moreover, insufficient harmonization of regulations with major trading partners seem to have impeded trade, particularly in services. Despite the governments announcement of additional revenue measures the deterioration in economic activity without further reductions in government outlays, or a more rapid economic upturn, means that the budget deficit could rise above 4.5% in 2010 and to increase further in 2011. The deterioration in economic activity was partly caused by the administrative burdens on business. Starting, running, and closing a business have been hampered by onerous regulation, including a cumbersome licensing regime that has weakened competition and, thus, productivity growth throughout the economy (OECD, 2008, 2009a, 2009c; European Commission 2009). Figure 5 provides evidence that Portuguese burden on business in the form of regulation are higher than EU average. Productivity growth has been sluggish during the last decade, lagging behind the OECD average with a decreasing trend since 1990 (figure 6), partly on account of labour market rigidities such as high employment protection and insufficient human capital accumulation. Those weaknesses have led to a further widening of the large productivity gap with respect to the Eurozone. The protection of workers against individual dismissal has been the most restrictive in the OECD, with very cumbersome procedures, as clearly highlighted in figure 7. The new legislation put forward by the Portuguese government is aimed to significantly simplify dismissal procedures. However, protection of regular workers against dismissals will remain more restrictive than in the average OECD country. Therefore, it is essential to enforce the reform measures because tighter credit conditions, weak exports, and subdued internal demand depressed business investment in 2009 and led to a labour shedding and an increase in the unemployment rate which is projected to reach a double-digit rate in 2010 (OECD , 2008, 2009c; European Commission 2009). According to Blanchard (2007), Portugal is today in a scenario of Competitive disinflation, defined as a period of sustained high unemployment, leading to lower nominal wage growth until relative unit labor cost have decreased, competitiveness has improved, the current account deficit has decreased, and demand and output have recovered. If we look at the Real Effective Exchange Rate (REER) of a country, an instrument which can be used to assess price or cost competitiveness relative to the position of the countrys principal competitors, it is easy to notice that Portugal has substantially lost competitiveness against Germany since 1995 (figure 8). A rise in the index means a loss of competitiveness taking into account productivity changes via the movement in comparative unit costs (Hugh, 2009). Therefore, as this trend is going on since 15 years it is hard to invert it without huge efforts and structural reforms. In the context of the budgetary policy, in 2008, Portugal has also taken action to reduce taxes through the cut of one percentage point of the VAT rate, the creation of a general corporate income tax rate of 12,5% and the reduction of advance income tax payments for SME (State Budget, 2009). Nevertheless, the fiscal position has deteriorated significantly in 2009 reflecting weaker economic conditions, lower revenues and spending rises to support the economy. Fiscal stimulus measures focusing on public investment, support to companies and exports and social assistance will directly increase the budget deficit (OECD, 2009a, 2009b). Torres (2009, p. 65) argued that: In a small open economy like Portugal, fiscal policy has limited effectiveness with regard to influencing aggregate demand. This applies even more to the current environment of financial distress and uncertainty, where banks will try to de-leverage and households to save. Moreover, the Portuguese economy is already particularly exposed due to its fragile financial position, as reflected in its accumulated external imbalances, which puts at stake the markets confidence in the sustainability of public finances. Given the risks involved for the costs of servicing the debt and ultimately for its solvency and permanence in EMU, it seems essential for the government to credibly pre-commit to medium-term budgetary objectives. It thereby signals its determination to pursue fiscal consolidation in spite of the temporary stimulating measures adopted within the EERP and to ensure that those exceptional measures do not mark a departure from budgetary sustainability. Moreover, external debt has been high and rising (figure 9) and, thus, leading Portugal to become the third eurozone economy to undergo a long-term credit rating reduction, to AA minus, by Standard Poors because of its failure to tackle deteriorating public finances (Torres, 2009, p.64). Finally, last but not least, Portugal is undergoing a strong disinflation process which is highlighted by the fall of the Consumer Price Index to its minimum levels (figure 10). European Central Bank council member and Bank of Portugal Governor Vitor Constancio is aware of the danger and has indicated that the ECB is prepared to reduce borrowing costs further to prevent inflation slowing significantly below its 2 percent ceiling, even going so far, if necessary, as to introduce some variant of quantitative easing. He still thinks it wont happen, but he is well aware of the possibility, as indeed we all should be (Hugh, 2009, p. 21). To conclude, it is important to point out that the inflation is expected to be under the OECD average during the whole 2010 to catch-up with the OECD countries after 2011 (figure 11). Furthermore, the danger of the risk of disinflation is real as shown in figure 12, where the harmonized index of consumer prices is expected to remain below the ceiling of 2% during the whole projected period. Conclusions: What should be done? The policy responses analysis has highlighted serious structural problems for Portugal and, as a matter of fact, Portuguese growth is expected to lag behind the OECD average during the whole 2010 and 2011 (figure 13). SUM UP PROBLEMS In fact, despite Portugal has made significant progress in fiscal consolidation and has launched important structural reforms to modernize the economy and enhance growth, in my opinion, additional structural reforms, in order to find a way out from the crisis, are still necessary, notably, in the following areas: Education The secondary education attainment should be improved since human capital represents one of the main durable determinants of growth in the long run. Moreover, reforming the educational system might enhance productivity performance. According to OECD (2009c), the reform should increase the proportion of education spending on non-wage items, continue to strengthen teachers on the job-training and to develop vocational and technical education and, finally, Portugal should fully implement a performance-based evaluation and career-progression system for teachers. Employment One of the clearest examples of the problems highlighted by the crisis is to be found in the stagnation of the labour market. It is essential to reform employment protection legislation with proposals aimed at enhancing the adaptability of the labour force, to address rigidities in labour market regulations and improve the efficiency of active labour market programs; otherwise the strictness of the Portuguese employment protection will continue to have negative effects on growth and productivity (OECD 2009c). Moreover, the unemployment rate is expected to be higher than the OECD average during the next two years (figure 14). Concerning the slow productivity growth problem, Blanchard (2007, p.8-20) suggests a decrease in nominal wages. Even if it sounds exotic, it can substantially reduce the employment cost of the adjustment. However, in Portugal today, the labor law forbids unjustified wage decreases and in practice rules out decreases in nominal wages for economic reasons. Business A deepening of the reform process is required to create a dynamic business environment by reducing the administrative burdens on business. Despite the importance of the recent reforms, a full implementation of them is essential. Competition in the whole economy should also be strengthened through investment in key infrastructure sectors, such as telecommunications, electricity and transportation, to enhance the quality, efficiency and quantity of the services they provide. This would have a direct effect on the cost-competitiveness of firms in Portugal, facilitate trade flows, domestically and internationally and make Portugal a more attractive destination for FDI, which has the potential to boost productivity (). Finally, OECD (2009c) recommends to harmonize regulations with major trading partners, including service sector standards and qualification requirements. Tax system A reform is necessary to simplify the tax system, broaden the corporate tax base and decrease tax expenditures in order to reduce fiscal imbalances. Designing and implementing fiscal consolidation remains a priority for Portugal because the deficit needs to be reduced. Silva (2008) provides empirical evidence that, in Portugal, taxes negatively affect productivity because an increase in the taxes decreases consumption, capital, output and welfare. Moreover, he states that for Portugal taxes are able to predict the pattern of the labour supply over the years. Therefore, the government should take into consideration how a tax system reform might serve a double objective: raise the productivity and reduce fiscal imbalances. Nevertheless, à ¢Ã¢â€š ¬Ã‚ ¦ Table 3. Actual and projected Macroeconomic evolutions, 2001-2007. Source: OECD

E-Sports :: essays research papers

We live in constant violence. It seems like every year there’s a domestic event highlighted by a bloody rampage by crazed individuals armed with weapons that are meant for such frenzies. The most recent that are still in people’s minds would be the Washington Sniper and the Columbine High School shootings. While it may be true that psychologically troubled individuals planned out and executed both events, later investigations pointed out one hauntingly similar coincidence. The killers practiced on simulated violence that comes with video games (http://www.answers.com/main/ntquery?method=4&dsid=2222&dekey=Eric+Harris+and+Dylan+Klebold&gwp=8&curtab=2222_1). And because of that, the gaming industry took massive repercussions, with lists such as the one Mothers Against Violence in America created, in which games such as Warcraft 3: The Frozen Throne, Doom 3, Half-Life 2, and Halo are supposed to be avoided by parents at all costs (Lottie). The Interfaith Center on Corporat e Responsibility mentions the same games but takes it a step further stating that â€Å"violent interactive media indicates that it has a strong and more lasting effect on violent behavior†¦in children and adolescents.† (http://www.iccr.org/issues/violence/jointstatement020705.PDF) But is that the truth? Will everyone playing an Entertainment Software Rating Board rated Mature game become a crazed, violent individual who wants to commit mass murders? The mass populace of the United States may say so, but the rest of world seems to disagree (McDonald, 16). Gaming has minimal effects, if not any, on the mental health of its crowd. With legislation pushing for anti-gaming acts, the casual and professional gaming communities are starting to suffer because of a few crazed individuals. Whereas casual gamers will probably complain, American pros will take whatever action they can to slow down the barrage of acts and laws that will hinder their ability to compete at level with f oreign professional gaming teams.   Ã‚  Ã‚  Ã‚  Ã‚  One of the ideas that hasn’t taken hold in the United States would be the idea of Electronic Sports or Professional Gaming (commonly known as E-Sports). The rest of the world, namely Europe and Asia, respects and accepts E-Sports, whereas the United States looks down on it. America tries to make attaining competitive games Counter-Strike, Counter-Strike:Source Halo, Warcraft 3 and others difficult for everybody. Europe and Asia on the other hand, have live media coverage at events broadcasted over national television. If a common middle-class mother in America mentions something about games, negative comments would follow suit. If the same case was to happen in Norway, then the responses would be neutral and would wind up with the mothers conversing about their sons/daughters placement in the last major event they were in.

Pesticides :: essays research papers

Putting Aside Pesticides   Ã‚  Ã‚  Ã‚  Ã‚  There are 2.5 billion pounds of pesticides being applied to agricultural products each year in the United States. This is ten times more than was applied forty years ago. It is still unknown as to what type of exact effects these chemicals may have on individuals. Some farmers that have been using pesticides in their fields and developed leukemia are finding that the cause of their disease is from inhaling pesticides. These chemicals are still in use today and most of them have never been tested for the short or long-term effects that they may have on humans.   Ã‚  Ã‚  Ã‚  Ã‚  Each year there are 10,000 pesticide related poisonings. On July 4th 1985, over 300 Californians became sick after eating watermelons treated with the pesticide tenik. Testing supermarket produce is a way of determining the amount of exposure the consumer receives through common produce like carrots, tomatoes and lettuce. 44% of foods that were tested in supermarkets were found to have some traces of pesticide residue on them. Of all the pesticides found, nineteen of them were a pesticide called DDT. DDT was banned in this country 12 years prior to the testing. It was believed that these chemicals might have entered this country from another country that doesn’t have pesticide restrictions as the U.S. does.   Ã‚  Ã‚  Ã‚  Ã‚  Pesticides are contaminating the Earth’s water supplies. There are seventeen pesticides found in twenty-three state’s water supplies right now. Scientists at Cornell University conclude that 99% of pesticides miss the intended source and find their way into the water, air and soil. Most of the pollution isn’t strong enough to create an immediate impact on humans so the wildlife is the primary target to these contaminates. Animals such as the European Starling birds are constantly being tested and found that they are greatly affected both behaviorally and psychologically.   Ã‚  Ã‚  Ã‚  Ã‚  Farming practices that do not use pesticides/herbicides are slowly becoming introduced bit biologically created pesticides are not nearly as productive as found in preliminary testing. Biotechnology has shown to have successfully resisted pests in plants that were destroyed by pesticides but still hasn’t proven itself as a better alternative. William Liebhardt Ph.D. is an Agricultural Specialist at the University of California, Davis and he says, â€Å"When you start spraying with pesticides, you disrupt the natural balance that exists in nature. As a result, you end up killing beneficial insects, then insects that were not a problem become problems and this happens repeatedly† requiring more and more spraying. Pesticides :: essays research papers Putting Aside Pesticides   Ã‚  Ã‚  Ã‚  Ã‚  There are 2.5 billion pounds of pesticides being applied to agricultural products each year in the United States. This is ten times more than was applied forty years ago. It is still unknown as to what type of exact effects these chemicals may have on individuals. Some farmers that have been using pesticides in their fields and developed leukemia are finding that the cause of their disease is from inhaling pesticides. These chemicals are still in use today and most of them have never been tested for the short or long-term effects that they may have on humans.   Ã‚  Ã‚  Ã‚  Ã‚  Each year there are 10,000 pesticide related poisonings. On July 4th 1985, over 300 Californians became sick after eating watermelons treated with the pesticide tenik. Testing supermarket produce is a way of determining the amount of exposure the consumer receives through common produce like carrots, tomatoes and lettuce. 44% of foods that were tested in supermarkets were found to have some traces of pesticide residue on them. Of all the pesticides found, nineteen of them were a pesticide called DDT. DDT was banned in this country 12 years prior to the testing. It was believed that these chemicals might have entered this country from another country that doesn’t have pesticide restrictions as the U.S. does.   Ã‚  Ã‚  Ã‚  Ã‚  Pesticides are contaminating the Earth’s water supplies. There are seventeen pesticides found in twenty-three state’s water supplies right now. Scientists at Cornell University conclude that 99% of pesticides miss the intended source and find their way into the water, air and soil. Most of the pollution isn’t strong enough to create an immediate impact on humans so the wildlife is the primary target to these contaminates. Animals such as the European Starling birds are constantly being tested and found that they are greatly affected both behaviorally and psychologically.   Ã‚  Ã‚  Ã‚  Ã‚  Farming practices that do not use pesticides/herbicides are slowly becoming introduced bit biologically created pesticides are not nearly as productive as found in preliminary testing. Biotechnology has shown to have successfully resisted pests in plants that were destroyed by pesticides but still hasn’t proven itself as a better alternative. William Liebhardt Ph.D. is an Agricultural Specialist at the University of California, Davis and he says, â€Å"When you start spraying with pesticides, you disrupt the natural balance that exists in nature. As a result, you end up killing beneficial insects, then insects that were not a problem become problems and this happens repeatedly† requiring more and more spraying.

Does age matter in relationships? Essay

There is a funny thing about love. And that is the fact you never tell as to whom your mate will be. Regardless of how long the relationship may be, we never know who out there will be the one we call our mate. Most people think that age difference between two people that love each other won’t work out. Age is nothing but a number and it shouldn’t stop people from being together. Age is a problem to people because they think that there is no way the relationship will work out since one person is immature and the other is an adult and is mature. Age difference between two people that love each other shouldn’t matter because if two people love each other age should stop them from being together. When people fall in love, they don’t necessarily take age into consideration. What usually matter for them is how they feel for that person Age shouldn’t determine whether or not two people are allowed to love each other and be with one another. Maturity is a big deal when it comes to age. Although that may stop people from loving each other, people learn from their mistakes and will eventually be mature enough. It shouldn’t matter because when you’re with someone you love; you will learn with them and will have experience on how you should act and behave, etc†¦.In the article â€Å"Does Age Matter in Relationships† by J Francis, he says â€Å"Many may argue that with age comes maturity. I beg to differ. Maturity is taught by life’s experiences. Many men and women learn from events in their lives. Events from their childhood may shape their outlook on marriage and relationships. They carry the lessons from these experiences into their adult years.† People learn about maturity from their experiences in life and they learn from their childhood life and will have an effect on their marriage and relationships with older people. The lessons learned from those experiences will bring them to become adults and learn from their mistakes and experiences. (J Francis) An advantage to having someone older than you is that they know more and have knowledge and experience in love and know what it’s like to be hurt or left. They are mature enough to know about having a commitment and are serious in aspects that really matter in relationships. In the other hand, In the  society today, there are many couples who have a big age gap between them. There are men who have younger wives and women who have younger husbands. For men predominantly, they find younger age in the opposite sex as somewhat attractive. For most young women who seek older men, it is quite common that they’re looking for maturity and confidence as well. Oftentimes, they seek someone who is older because they would want someone who can understand them better and perhaps guide them as well since older men have more experience in life. But sometimes, there are people who are far more mature than their age. The main are where problems might exist though would be when it comes to handling the family’s finances. If one of the couple is earning more than the other, conflicts may arise. But as in any relationships, conflicts are to be expected. And these issues can be quickly resolved through open communication. Of course, you cannot avoid family and friends who might not be supportive in your relationship. But do not let this discourage you. If this happens, you should take it as a challenge to work harder in your relationship to prove to them that you can handle it and that you love the person you’re with regardless of their age. If you make age an issue, this will surely affect your relationship. But if you accept your partner whole heartily, then you should be able to adjust pretty well in your relationship and make it work for both of you. In conclusion, the choices you make in your life are solely yours. Age shouldn’t really matter for as long as they both are mature; in addition they had to have the same goals in their lives and care about each other. Always have a positive attitude in your relationship and try to be as understanding as you can be. However, a relationship is like a boat in the ocean and I they can’t work together they cannot land the boat. Moreover, the thing that matters the most in a relationship is the love between couples. You can be in a relationships with a person that takes advantage of you of abuses you; it makes no difference what you age is, they will do that no matter what the age is. Eventually, â€Å"Age is an issue of mind over matter, if you don’t mind it doesn’t matter† –Mark Twain.

Revenge in Hamlet and Frankenstein

William Shakespeare’s play Hamlet and Mary Shelley’s novel Frankenstein are both about revenge the enemy, while the two novels may seem Hamlet and Victor Frankenstein fight for the people they loved. But important contrast in the attitude of revenge, Hamlet is very confuse revenge or not. But Victor never thought not kill the monster. Through its description of the characters, Hamlet and Frankenstein, who have different attitudes to the fact their loved people have died, it is suggested Prince Hamlet only focuses on revenging his uncle Claudius While Frankenstein Victor wants to stop the act of killing innocent people, but chasing on the monster until his death. Prince Hamlet full of despair and grief to love and life. Since Hamlet knows the truth about his father’s death, he begin treat Ophelia ruthless. At the beginning, old Hamlet was alive, Hamlet love Ophelia deeply. We can see from the letter wrote from Hamlet to Ophelia â€Å" doubt thou the star are fire, doubt that the sun doth move, doubt truth to be a liar, but never doubt I love. † (2. 2. 115-118) When Hamlet back, he realized Ophelia already dead, he finally breaking down â€Å" What is he whose grief bears such an emphasis, whose phrase of sorrow conjures the wand’ring stars, and make them stand like wonder-wounded hearers? This is I, Hamlet of Dane. †(5. 1. 245-249) I love Ophelia. Forty thousand brothers could not, with all their quantity of love. (5. 1. 58-259) We can see from here Hamlet love Ophelia so much, why he keeping hurting Ophelia with rude attitude and hurtful language? Why Hamlet doesn’t tell Ophelia truth? I think maybe he has own trouble, maybe he doesn’t want Ophelia turns into this tragedy. Even though she knows the all things, she can’ t help Hamlet anymore, it will increase the risk of revenge. Another reason why Hamlet canâ €™t continue keep romantic relationship with Ophelia because has to revenge, which is not appropriate to have romantic relationship Old hamlet also makes important affect to prince Hamlet. Claudius killed Old hamlet, it is the beginning of prince Hamlet get grief. At same time, his life is totally changed. He is not a child anymore, he force grown up to a man. When Hamlet knows the truth about his father’s death. He swears he will revenge his uncle, because his uncle uses poison murdered old Hamlet. â€Å"O most pernicious woman! O villain, villain, smiling damned villain! (1. 5. 105-106) â€Å"So uncle, there you are. †(1. 5. 111). Hamlet is suffering, â€Å" To be or not to be† (3. 1. 7) exactly shows that his confuse and grief. Hamlet done many considering of the process of revenge, cause that considering, he lose many opportunities can kill Claudius. If he makes decision decisive, maybe Ophelia wouldn’t die. Hamlet love his father deeply, â€Å" he was a man. Take him all in all. I shall not look upon his like again† because of this love, he felt he doesn’t believe anyone, everyone in this world is against to him. It feels like he is the only man alive in this world. He is lonely. No one can understand his sad. He haunted by his father’s loss, we can see from â€Å" my father-methinks I see my father, O where my lord? In my mind’s eye, Horatio. (1. 2. 185-187) Old Hamlet appears in his mind, the memory of Old Hamlet makes Hamlet feels grief. After his family and friends are killed by his creature, he feels guilty and blames himself everyday. He has the responsibility end of killing, because he created the monster. His guilty and blames force him chasing on the monster. He has nothing to confuse, he only got one choice, which is kill the monster. Many people died for Victor’s creature. Victor can’t feels monster pity anymore, because he kills many innocent people, this is all because of him. Finally, Victor and monster both died. To summarize, these two tragedies has lots of similarities and differences, there are a thousand Hamlets in a thousand people's eyes. While Frankenstein and his creature both very pity. The monster try to live with human, join this society. But he can’t.

Generally Accepted Accounting Principles Paper Essay

Generally Accepted Accounting Principles In a world of finances, Generally Accepted Accounting Principles seem to play a huge role. Generally Accepted Accounting Principles, or GAAP, is defined as the set of guidelines and rules which the financial firms adhere in their work. GAAP is useful due to the nature of being able to standardize the methods for the organizations to follow, and it establishes consistency from year to year in documents such as financial statements (Cleverly, Song & Cleverly, 2011). Healthcare is inevitably a business like any other according to the authors, and such healthcare organizations are sure to benefit from GAAP. Cleverly et al (2011), attempts to teach the reader the five of the principles in their work. They are as follows; Accounting Entity, Money Measurement, Duality, Cost Valuation, and Stable Monetary Unit. To apply these essential principles to healthcare organizational settings, it is important to study how each of the principles are defined. Principle 1: Accounting Entity It is stated that accounting entity is an organization which is involved in economic activities with own assets and resources which should be accounted (Cleverly, Song & Cleverly, 2011). The authors also state that if the definition is not properly determined, evaluations might become even useless and misleading. Legal entity and accounting entity are different. This means that sometimes it is not apparent for the firms define the accounting entity, as other groups such as universities and government might be involved with the organization as well. Cleverly et al (2011) gives a great example of what could happen if not all aspects are accounted for. In healthcare organizations, the idea of fringe benefits such as bonus wages being paid in municipal basis might not be visible to the hospital’s accounts. This could possibly cause understatement of the expenses, which could affect the finances of the hospital as a whole. Principle 2: Money Measurement Measurement of money is not an easy task in a business setting. There are  resources essential for running a business and other economic obligations the business has to provide and meet. This could be applied in the same way for healthcare organizations. Assets are usually greater than the liabilities (Cleverly et al, 2011). Liabilities are resources from another entity such as bank loans. With the presence of liabilities, owner’s interests are gained to the entity which provided the loans. When the firms take these elements into account, they should acquire a general idea of the accounting entity’s assets and how they are utilized. When the liabilities are unpaid, then the lenders would then make the equity claims, unless the organization was a non-for profit healthcare organization. There are no equity claims for non-profit HCOs, and they just becomes the property of the state (Cleverly et al, 2011). Principle 3: Duality Duality is defined as a simple equation. Assets of the business should equal the liabilities owed plus the net assets. Liabilities and net assets are always counted as assets. It is state that a significant number of HCOs use this principle with different transactions with lenders. Individual asset, liability and net asset always equals the same amount through the duality principle(Cleverly et al, 2011). Principle 4: Cost Valuation This principle is used to estimate the value of the business. It involves historical cost, replacement value, and the market value. Although the asset is considered equal to the liabilities and the net assets, its market value is a different story. If the cost of investment is more than the return, interventions need to be made to either sell the assets or continue operation with resource cuts in the operation. Replacement cost would play a huge role in a hospital where the new and better information technologies are being developed constantly. It is likely for the hospital a significant more money to replace the current technology being used and inflation. Principle 5: Stable Monetary unit According to the authors Celverly et al (2011), stable monetary unit is the generalized value of a dollar whether it was now or then. For example, the dollar from 2000 would be considered the same value as the current dollar. This however, could cause problems due to inflation. Healthcare  organizations could put themselves at significant cash deficit if the management does that put the inflation into account. Healthcare whether it is for profit or not, is still considered a business. Although non-profit HCOs are different at times, the HCOs still require resources, and â€Å"Generally Accepted Accounting Principles assists† the HCOs to stay consistent and allows the managements to see the assets as a whole. References Cleverly, W. O., Song, P. H., & Cleverly, J. O. (2011). Essentials of health care finance (7th ed.). Sudbury, MA: Jones and Bartlett Learning..