Monday, September 30, 2019

Dynamics and Conflict within a Team Essay

The team concept is not an unfamiliar one. We are surrounded by teams from the time we take our first breath until the time we leave this Earth. Doctors, nurses, aides, dieticians, housekeeping, and others all exhibited a collaborative effort to ensure our arrival into the world was a safe and successful journey. Our adventures throughout grade school were also brought about by teamwork. Sports, movies, ballet, politics, business, higher education and several other parameters of life as we know it are the epitomes of teamwork, well-choreographed representations of the adage that states â€Å"Two heads are better than one. Tasks achieved through teamwork are anticipated to be more thorough, more effective, more elaborative, more multifaceted, and more successful than those tasks carried out by one. Individuals comprising a team contribute intrinsic skills and intuitive knowledge to the whole of the team, each member making up for what the other lacks. The result is a balanced load of all the skills necessary to complete the assigned task with proficiency (Morris, 2005). The ultimate success of the team is strongly influenced by the member’s ability to work together in a cohesive state. Team dynamics† encompasses any and all ways that individual affiliates interact with their counterparts en route to the common goal. The overall characteristics of the assigned task, along with the inert skill of each member may also have an impact on the team’s success (Morris, 2005). However, the focus here is more concerned with the interpersonal relationships within a team and strategies to employ in an effort to avoid conflict or to utilize should conflict arise. The Oxford Dictionary of Sports Science and Medicine defines team dynamics as the following: Often referred to colloquially as ‘team chemistry’; the patterns of interaction among team members that determine team spirit, harmony, cohesion, and morale. Some coaches believe that team dynamics are beyond their control, resulting from the unpredictable mixture of the personalities. Others believe that one of the most important tasks of a good coach is to create the best possible team dynamics for success (Oxford, 2005). The concepts behind this definition can apply to all types of teams. The team’s ‘chemistry’ is a dominant factor outlining the success of a team. If team members cannot work together effectively, then completing their assigned project is a more difficult goal to achieve. The virtual team is presented with quite a few more discrepancies to overcome than those teams centered in real time. Before they are fully able to work up to their potential, the virtual teammates must establish some kind of rapport with their fellow constituents, lay down mutual ground rules ensuring each member has a designated responsibility, and everyone must strive to meet the team’s common goal, no matter their differences individually. Of these aforementioned qualities, the neutral rapport is the most difficult one to render effectively. Unfortunately, personality is often misinterpreted or lacking in full in the virtual team environment compared to those real time teams, where the member’s personalities are vividly displayed. Physically present interaction allows one to pick up on the visual and unspoken cues that contribute to a person’s character. Body language, voice inflection and intonation, the nodding of a head, or firm handshake are just among the few effective communications present in the real world, but lacking in the virtual realm. One has to rely on their own interpretations of their affiliate’s written accounts and then come to a fair-minded conclusion. â€Å"When it comes to teamwork, a person’s ability to build relationships, work with others, and communicate effectively can be more important than his or her technical expertise† (Dawson, 2005). This concept is crucial if an online team is to be successful. If one member does not have the ability to communicate their own thoughts and ideas online, how will the rest of the team incorporate that member’s contributions into the project? The need for team dynamics is understood after the team is formed, when the individuals work collaboratively toward the common goal. The precursor to team dynamics is (or should be) thoroughly contemplated prior to assigning each member to the team, according to the task at hand and the skills of each member. If the team consists of those most knowledgeable in marketing an idea, for example, and the project calls for a team of post-marketing surveyors, then (obviously) the team would not know how to go about getting the job done, and so their dynamics would be hindered. Team members need to trust each other as well as trust each other’s expertise. They need to feel confident that the other members are doing their share, so that when the team finally pools their ideas together, a multifaceted solution results. Teaming is a collective responsibility; every member is held accountable for their individual contribution, as well as the timely completion of the collaborative effort. In 1965, Bruce W. Tuckman developed a model of five stages for developing teams: â€Å"forming†, â€Å"norming†, â€Å"storming†, â€Å"producing† and â€Å"ending† (Bookman, 2005). At the â€Å"forming† stage, dynamics are important because this is where things begin. At this point you need the chemistry to see how to set up the group according to each other’s strengths and weaknesses. You need to feel confident that all of the members are willing to do what is required for the good of the team. The â€Å"norming† stage is where the group comes together. Dynamics are important here because decisions need to be made and rules need to be set. The team needs to decide who will do what. Expectations, both of the group and of each individual, will also be determined at this point. The team also has to decide what will be done regarding conflicts, lack of participation of a member, and lack of , or insufficient, contributions. If the group dynamic falls apart here, the group will fall apart. If a problem is going to exist, it usually makes itself present during the â€Å"storming† stage, which now comes into play. Strong dynamics within the group can help resolve potential problems before they become major issues. As long as the group can communicate well, they should be able to resolve any conflicts. Next in line is the â€Å"producing† stage, where good team dynamics start to pay off as the team is now producing high volumes of quality work. At this point, if there are problems with the work, a strong team dynamic will ensure the issues are resolved. Finally (and appropriately titled), we come to the â€Å"ending† stage. The team itself has completed their task and is no longer required or just one member could be departing as their individual task is complete, marking this point. If the team as a whole terminates, a good dynamic can ensure each member walks away with a positive outlook, especially if there may be another opportunity to work with the same team. However, if the ending is due to a teammate’s departure, a good team dynamic will make it easier to carry on without that member’s presence (Bookman, 2005). Improving team dynamics is actually a learning experience. Each member has to learn to develop or improve upon their ability to trust, be dependent upon, and work with each of their partners. One way to do this is through challenge programs. Challenge programs are initiated away from the office, and are not specifically job related. The people involved will face physical or mental challenges with only the other members of their group to rely on. The team’s success will depend on each member’s ability to trust, guide and accept guidance, assist and accept assistance from their colleagues. When it comes to teams, and the team dynamic, the success of the team is dependant on the success of the individuals (Steinfeld, 2005). Another concept, if a physical challenge program is not an option, is an on-line training program. According to the â€Å"News† section (2005), Personnel Today mentioned that the BBC used an on-line training program that showed that the majority of participants learned a ‘significant amount’ by participating in the program. The basis of this program was to show that teams can be more successful when the leaders use more of a teaching / coaching approach rather than a command-and-control approach. Yet another option to improve team dynamics, and have a successful team, is found in Kenneth E. Holtman’s (2005) â€Å"The 10 commandments of team leadership. † (Training 101: It’s a team effort). The abstract is a follows: The first requires them to stick to their mission and vision, which guide teams in creating and using more precise strategies and plans. The second commandment obligates team leaders not to tolerate undesirable behavior, which can only undermine team morale and performance if not addressed properly. The third commandment insists on the eschewal of self-interest to dominate over mutual interest, which helps avoid resentment, competition and conflict. The other rules require preventing fear to influence team behavior, fighting cliques which can affect team dynamics, dealing with conflict, refusing to recognize luck of trust as an excuse, encouraging risk taking, sharing information and managing processes carefully. Although this article refers to the leadership role, it can also be a guide to improve the team dynamic at an individual level. Even an individual, is a leader, when it comes to their part of the project. In summary, team dynamics are important because dynamic or ‘real’ teams have clarity of purpose. Everyone understands the team’s objectives, as well as own intrinsic roles in delivering them. Other key characteristics include a focus on quality, support for innovation, and the ability to work creatively with potential conflicts† (Agnes, 2005). Time Management . . . A concept we should all thoroughly master. In our present lives, though, managing time seems to be an insurmountable feat. We have goals whose obtainment is so far in the distance that we tend to lose sight of them, put them off to satisfy the initial moment, and lose ourselves in the process. We all have so many things going on in life these days. We all wear so many hats, working valiantly to meet up with the demands of each one. In doing so, we put too much pressure on ourselves to please the masses, not focusing on which one should come first or which ones can be eliminated to better suit the more prospective accessories. Prioritize! Analyze your collection of hats, keeping in mind that God only gave you one head because you are only one person. The two hands He blessed you with are more suitable for delegating the tasks by passing down or throwing out the hats which do not measure up to the high priority coverings. Don’t waste time finding time. Each and every day seems to begin with focusing on the fastest route from point â€Å"A† to point â€Å"B,† like those deluded souls you may see driving around forever in a crowded parking lot simply to get a closer space, when they could have been in the building faster if only they had taken the first available slot. We put too much time-consuming thought into those misconstrued notions held dear to our â€Å"get rich quick† â€Å"instant gratification† society. Success does not happen overnight; it never will. Honest achievements are the result of dedication, blood, sweat, tears, pain, anguish, mental fatigue, still persevering in light of all these constituents. Do not delude yourself to the â€Å"get something for nothing† ideal. In all matters of simplicity, it is just not going to happen. Instead, spend one day planning out your entire journey en route to destination, â€Å"My Ultimate Goal,† mapping out your daily trek so that you know the steps required to make your arrival at your future locale a realistic ambition. Once the plan is made, we tend to start off by flying and then realize we find more pleasure in the up close and personal (although more time-consuming) scenic route. Do not focus on the negative concept of the ultimate goal being so far away, rather focus on the here and now – the positive reinforcement and instant gratification that makes itself present, daily, through climbing and conquering each individual cliff on the way to the your mountain’s pinnacle. If you have chosen to spend your time griping to others about how unfair life can be, then you have the time to realize the actions required to change it. If you have the time to criticize others who are happy with their lives, then you have the time to determine what you need to do to satisfy your own, putting those realized actions into motion. Do not succumb to your past negative experiences that have defined your life up to this point. Reflect and eject or define and redesign! Recognize and get rid of those experiences not applicable to your present life. Or, acknowledge those hindrances and transform them into positives. We only become strong by being willing to overcome. Once we overcome the negatives in our past, we can then view them as a present and future positive, in retrospect. Do not allow present or future obstacles to terminate your journey. Push them aside, jump over them, steer around them, or do whatever you have to do to find your way back to the path you once initiated. If the obstacles are applicable to your future and you must bring them along, simply take them under your wing and walk, instead of flying. More time will be required to reach your destination, but at least you will be continuing in the right direction. According to Carol Carter, Joyce Bishop and Sarah Lyman Kravits (2002), â€Å"When you set goals, prioritize, and manage your time effectively, . . . you can develop the kind of focus that will help you achieve . . . † Individuals and the whole team can utilize this strategy to enhance their own time management skills. Time management can be accomplished at the individual level by assessing one’s daily schedule. Write a list of wanted accomplishments, and then prioritize. Be realistic when compiling a daily schedule, and do not list more than can be effectively achieved by sundown. Take control of goals and stay on task. Learn how to say â€Å"no† to keep control of your schedule. If unforeseen deviations do occur, simply get back on track as soon as possible. Times saving techniques are also helpful with effective time management. Take a few minute each day to plan the events happening that day, or schedule known appointments and other obligations occurring days, weeks, even months away, and then regressing to mark progress thus far. Day Runners, calendars, date books, PDAs and computers are some of the many tools available for using time wisely. Place items in â€Å"urgent† and â€Å"non-urgent† categories as the list is compiled. (Stephen Covey’s 4 Quadrants Principle). Schedule within a reasonable time frame. Allow for relaxation breaks so that the focus is heightened once back on task. Incorporating critical thinking into our daily lives and daily routines will help us to use this technique in many areas of our lives and make more effective decisions. As the day starts, think through your day and look over your daily list to see in any adjustments need to be made. Again allow for flexibility.

Sunday, September 29, 2019

How Effective Is Solar Energy Environmental Sciences Essay

Solar energy is beaming energy that is produced by the Sun. Solar energy has been used since 400 B.C. It started to be commercialized during the eighteenth century. In present times, energy emitted by the Sun is harnessed by photovoltaic ( PV ) cells for assorted applications. These include domestic family utilizations, industrial usage, cardinal power Stationss and H2O warming intents. However, due to the technological restrictions, families can non be entirely dependent on solar energy. Compared to non renewable fuels, solar energy may stand for a cleansing agent alternate solution as it does non breathe harmful waste. In add-on, solar energy requires comparatively low care costs. But on the other manus, photovoltaic cells may be harmful to animal home grounds due to their broad land ingestion. In add-on, the presence of PV cells may interfere with natural lighting, rainfall and drainage. To get the better of such jobs, panels are mounted on roof tops of houses and industrial edifices. Another concern is in the signifier of wellness hazards to worlds presented by harmful substances contained within solar panels. Last, there is a possibility of H2O taint if H2O used for the intent of chilling photovoltaic cells is non treated decently. Even though solar merely accounts for 1 % of energy used globally, the hereafter of solar energy applications looks assuring. As the universe is progressively concerned about impacts on planetary environment and as more people use solar energy, economic systems of graduated table may cut down solar energy related costs. Many on-going surveies are concentrating on ways to increase the efficiency of photovoltaic cells every bit good as to bring forth electricity from solar energy at lower costs. Such betterments would do solar energy more feasible in the hereafter. History/Background of Use and Technology Background Solar energy is beaming energy that is produced by the Sun. Every twenty-four hours the Sun radiates an tremendous sum of energy. Yet, merely a little part of the energy radiated by the Sun into infinite strikes the Earth. About 15 % of the Sun ‘s energy that hits the Earth is reflected back into infinite. Another 30 % is used to vaporize H2O. Solar energy is besides absorbed by workss, the land and the oceans ( The Need Project, 2008 ) . The remainder could be used to provide our energy demands. History[ 1 ] Peoples have harnessed solar energy for centuries. Equally early as the seventh century B.C. the ancient Greek and Native Americans were the first to utilize solar power to their benefit. Peoples used simple magnifying spectacless to concentrate the visible radiation from the Sun into beams so hot they would do wood to catch fire. The first solar aggregator was built in 1776. The solar H2O warmer gained popularity early in 1920s and was in full swing merely earlier World War II. This growing lasted until the mid-1950s when low-priced natural gas became the primary fuel for warming. The populace and universe authoritiess remained mostly apathetic to the possibilities of solar energy until the oil deficits of the 1970s ( Solar Energy History, 2006 ) . Today, people use solar energy to heat edifices and generate electricity. While solar power is normally used today than any other clip in history, the basicss are about the same as they have ever been. The photovoltaic engineering has bee n updated so that the panels are thin and smaller but the engineering is fundamentally the same. Uses and Technology[ 2 ] In past decennaries, solar energy was used widely in different Fieldss of life. Back in 400 B.C. , Native Americans and ancient Greeks built their houses into the side of hills to take advantage of the heat storage from the Sun during the twenty-four hours that would so be released during the dark. On the other manus, Romans were the first to utilize glass Windowss to pin down the heat of the Sun in their places. They were focussed about the saving of solar energy that they erected glass houses to make the right conditions to turn workss and seeds. During the eighteenth century, legion discoverers came up with different thoughts of merchandises that facilitate use of solar energy. The first solar aggregator built in 1776 would so execute undertakings like infrigidation and motive power. The steam engine built in 1861 used 100 % solar energy. In 1880, the first visible radiation change overing photovoltaic cells were made from Se. 10 old ages subsequently, the first commercial H2O warmer was introduced. In the 1990s, solar power was seen as a great alternate to oil and crude oil merchandises. Therefore, it has been and is being utilised with the aid of engineering in bring forthing power. Presently, solar energy is used around the universe. It has been introduced and used extensively in industrial applications, residential places and cardinal power Stationss. Current Uses and Issues of Solar Energy The Earth ‘s atmosphere absorbs about 3.85 ten 1024 Js per twelvemonth, nevertheless merely a little portion of this energy can be harnessed by worlds due to technological restrictions. Nowadays, solar energy has many applications in around the universe and they are traveling to be discussed along with the issues they can do. Applications[ 3 ]: Residential Homes In recent old ages, there has been a rapid growing in the figure of installings of photovoltaic ( PV ) panels on to edifices that are connected to the electricity grid. This country of demand has been stimulated in portion by authorities subsidy programmes and by green pricing policies of public-service corporations or electricity service suppliers. In these grid-connected systems, PV System supply electricity to the edifice and any day-time surplus may be exported to the grid. Batteries are non required because the grid supplies any excess demand. In most states implementing the engineering, a policy called the Feed-In-Tariff ( FIT ) has been implemented in the system. This policy allows consumers to bring forth their ain electricity utilizing the PV system and to sell it to the grid. This has the possible advantage of cut downing their monthly electricity measure. The chief drawback of this application is that the monetary value of electricity will finally lift as the bring forthing companies will hold to maintain up their income and therefore the consumers will stop up paying more than they were paying before put ining the PV panels. Furthermore, the PV system can non bring forth adequate electricity at a stable rate for an full place to depend on it. Hence, houses can non be wholly dependent on solar energy with the current engineering. Industrial Applications Solar energy has been the power supply of pick for many industrial applications, where power is required at distant locations. These applications are economic and without subsidy. Examples of such utilizations are powering microwave repeater Stationss, Television and wireless, telemetry and wireless telephones. Solar energy is besides often used for transit signalling. For illustration, offshore pilotage buoys, beacons, aircraft warning visible radiations on pylons or constructions, and progressively in route traffic warning signals. The great benefit of solar energy here is that it is extremely dependable and requires small care so it is ideal in topographic points that are difficult to acquire to. However the PV panels may non be able to bring forth adequate electricity to carry through the electrical demands of the applications on cloudy or showery yearss. Therefore, these Stationss have to be connected to the grid or be equipped with generators working on oil or some other fuel. Cardinal Power Stations Solar energy can be harnessed utilizing PV panels to bring forth electricity. The largest solar power station can bring forth 354 MW of electricity. However to bring forth this sum of energy, people have to put in big Numberss of solar panel on a big sum of land, about 6.5 km2. This is really dearly-won. Furthermore, solar energy is intermittent and besides the solar panels have to be invariably adjusted so as to maximize the solar energy harnessed. Water warming Solar hot H2O systems use sunlight to heat H2O. In low geographical latitudes ( below 40A grades ) 60 % to 70 % of domestic hot H2O with temperatures up to 60A A °C can be provided by solar heating systems. The usage of solar hot H2O warmers is ideal if full Sun exposure is available and the use is traveling to be moderate. The cost to put in a domestic solar hot H2O system may be more than the money saved by non utilizing electricity from the grid for heating the H2O. Furthermore, the Sun is intermittent and therefore a uninterrupted supply of hot H2O can non be provided. Environmental Impact and Issues To cover with the issue of planetary heating and other jobs raised by non-renewable beginnings, solar energy represents a clean, alternate power solution towards the universe ‘s energy job. One of the chief grounds that make solar energy favorable compared to other is that it is environmental friendly, and the more efficaciously it is consumed, the more opportunities of it replacing fossil fuels as a chief beginning of energy. Although the after-effect of solar energy is mostly positive, the overall consequence should be to the full studied as attempts to detect its possible to travel frontward ( Vaux, 2010 ) . Some of the impacts and countries of concern are land perturbation, infinite consideration, risky constituent disposal and impact to H2O resources. To bring forth a perceivable sum of energy, a big figure of PV cells are required, which can take up a comparatively tremendous sum of infinite. For the intent of bring forthing electricity at a commercial graduated table, the building of solar energy installations requires relatively big countries for solar radiation aggregation ( Vaux, 2010 ) . Such big graduated table installings may interfere with natural sunshine, rainfall, and drainage, which could hold a assortment of effects on works and carnal life. This translates to an extra job where wildlife protection is concerned. Besides that, solar installations besides may interfere with bing land utilizations, such as farming. One practical solution for all these jobs could be to take advantage of fresh infinite on the roofs of houses and edifices and in urban and industrial tonss ( Vaux, 2010 ) . Photovoltaic panels may incorporate risky stuffs. Although risky constituents are good isolated under the solar operating system, there is a potency for environmental taint if improperly disposed of ( Solar energy Development Programmatic EIS Information Center ) . For illustration, liquids such as hydraulic fluids, coolants, and lubricators which normally use in most industry installations may show a spill hazard. Other issues are wellness concerns due to the risky stuff used such as arsenic, Si, and Cd. Inert Si can be unsafe if inhaled. Cadmium is highly toxic and can a cumulate in a given ecosystem if it is non monitored ( Vaux, 2010 ) . Other than land usage impact and risky disposal, H2O resources could besides be affected excessively, particularly the H2O that is required for the chilling of conventional steam workss used to bring forth electricity. In other words, addition in the demand for solar energy would necessitate a immense sum of H2O which could strive available H2O resources. Furthermore, if the chilling H2O is non appropriately treated, pollution of H2O resources could happen. However, this hazard can be minimized by good operating patterns ( Solar energy Development Programmatic EIS Information Center ) Current Future Outlook of Solar Energy Since the Sun is an ultimate energy beginning, the hereafter of solar energy seems assuring as no other beginning of energy may last forever. Solar power non merely promises a simple and non-polluting energy but besides a renewable beginning of energy ( Locsin, 2009 ) . However, the cost of using this solar energy is comparatively high ( Locsin, 2009 ) . While monetary values for electricity from photovoltaic cells may non go widely competitory compared to sweeping monetary values for electricity from conventional bring forthing engineerings within the following 25 old ages, they may be competitory with high retail electricity monetary values in cheery parts ( EIA a, 2009 ) . In cheery countries, the cost can be every bit low as 23 US cents per kilowatt-hour. EIA ‘s[ 4 ]Annual Energy Outlook 2009 undertakings that, by 2030, nightlong capacity costs for new bring forthing workss utilizing solar photovoltaic cells will be 37 % lower than the 2009 costs ( mention to calculate 1 ) . The sum of Sun energy that is presently able to be converted to electricity is comparatively low, about 7 % -17 % ( Bellis, 2010 ) . The possible energy that could be extracted from solar radiation is really big. Some experts estimate that the Sun can bring forth 10,000 times every bit much energy as the Earth used at the bend of the twenty-first century ( Ellis, 2010 ) . Entire U.S. installed solar thermic capacity, presently 400 megawatts, is projected to increase to 859 megawatts in 2030 ( EIA a, 2009 ) ( refer to calculate 2 ) . Therefore, to be ideal and remain sustainable in the hereafter, world is suggested to efficaciously reap the energy from the Sun. As stated in the article, â€Å" Make Solar Energy Economical † ( 2008 ) , solar energy merely accounts for 1 % of the entire portion of energy consumed. Yet, the chances for bettering solar efficiency are assuring. Current criterion cells have a theoretical maximal efficiency of 31 % . But, add-on of new stuff may foster heighten the efficiency up to 34 % ( Think Solar Energy, 2009 ) . Another manner of bettering the efficiency involves a nanotechnology development which proposes that C nano-tubes may duplicate the efficiency of solar cells ( Think Solar Energy, 2009 ) . The use of solar energy is expected to increase with society ‘s turning concerns towards planetary heating and other issues related to planetary environment. In other words, to make a more sustainable universe, a great hope is laid on the solar energy. Research workers are besides working on developing engineerings that may let solar energy to be used in H2O electrolysis. The H from the H2O can so be used in fuel cells for transit and other utilizations ( The Optical Society of America, 2008 ) . Efficiency additions, coupled with other technological progresss, have been proven to cut down the cost of solar photovoltaic capacity from about US $ 300 per W in 1956 to less than US $ 5 per W in 2009 ( EIA a, 2009 ) . The efficiency of solar photovoltaic applications is expected to better farther as the engineering continues to be developed. As such, U.S. solar photovoltaic bring forthing capacity is projected to increase from 30 megawatts in 2006 to 381 megawatts in 2030 ( EIA a, 2009 ) ( refer to calculate 2 ) . Scientists are encouraged to carry on more research in developing cheaper and more compatible solar panels with better efficiency that can vie with that of fossil fuels or other beginnings of energy to hike solar energy ingestion in the hereafter. Figure 2 -Net Generating Capacity Figure 1 -Projected Solar Capital Cost Brief Comparisons of Various Sources of Energy in the Future The current hereafter mentality for solar energy ingestion and demand show that it will non be the lone turning energy beginning. In the IEO[ 5 ]2009 survey, universe coal ingestion is besides forecasted to increase by 49 % from 2006 to 2030 and from 127.5 quadrillion Btu in 2006 to 190.2 quadrillion Btu in 2030 ( mention to calculate 3 ) . Coal ‘s portion of universe energy ingestion will increase from 27 % in 2006 to 28 % in 2030. The growing rate for coal ingestion is reasonably even over the period, averaging 1.9 per centum per twelvemonth from 2006 to 2015 and 1.6 per centum per twelvemonth from 2015 to 2030. In the electric power sector its portion declines somewhat, from 42 per centum in 2006 to 40 per centum in 2020, and so increases to 42 per centum in 2030 ( EIA B, 2009 ) ( refer to calculate 4 ) . Yet, behind the promising future mentality, over a span of clip and in the visible radiation of turning planetary heating argument, many consumers would choose for an surrogate more environmental friendly beginning of energy. Chiefly because of harmful coal emanations every bit good as the issue of militias handiness in the hereafter. Advancement in engineering is expected to drive down the use costs of solar energy to the degree where it is able to vie with coal and consumers will slowly get down devouring more solar energy. Figure 4 – Universe Coal Share Consumption Figure 3 – World Coal Consumption World liquids ingestion for the intent of electric power beginnings at the same clip is reported to increase in the IEO2009 mention instance from 85 million barrels per twenty-four hours ( 173 quadrillion Btu ) in 2006 to 107 million barrels per twenty-four hours ( 216 quadrillion Btu ) in 2030, despite universe oil monetary values that remain above US $ 100 per barrel ( in existent 2007 dollars ) from 2013 through the terminal of the projection period ( refer to calculate 5 ) . In the mention instance, the mean universe oil monetary value rises from US $ 61 per barrel in 200911 to US $ 110 per barrel in 2015 and US $ 130 per barrel in 2030 ( US $ 189 per barrel in nominal footings ) . In the low monetary value instance, oil monetary values average US $ 50 per barrel in 2030 ( US $ 73 per barrel in nominal footings ) , compared with US $ 200 per barrel ( US $ 289 per barrel in nominal footings ) in the high monetary value instance ( EIA c, 2009 ) ( refer to calculate 6 ) . Sustained high universe oil monetary values due to proficient trouble, bad and really expensive polish undertakings – including those located in ultra-deep H2O and the Arctic, in combination with the draining of fuel militias and the pollution job will in the long term force consumers to exchange to cheaper, cleaner, and more eco-friendly energy such as solar. Figure 6 – Universe Oil Monetary values Figure 5 – World Liquid Consumption Last, in the IEO2009 mention instance, natural gas ingestion in non Organisation for Economic Co-operation and Development ( OECD ) states in peculiar is reported to turn more than twice every bit fast as in OECD states. Worldwide, entire natural gas ingestion will increase by an norm of 1.6 % per twelvemonth from 104 trillion three-dimensional pess in 2006 to 153 trillion three-dimensional pess in 2030 ( EIA d, 2009 ) ( refer to calculate 7 ) . Despite its turning demands and ingestion in the hereafter, keeping the premise of universe oil monetary values that remains high through the terminal of the projection of 2030, consumers would choose for the relatively less expensive natural gas for their energy demands whenever possible ( EIA d, 2009 ) . Natural gas has besides become an attractive pick for new bring forthing workss for its comparative fuel efficiency and less C dioxide produced compared to char or crude oil. However, in the long tally, the handiness of the recoverable natural gas militias will besides be of concern and costs will non stay as they are but will increase over clip hence driving consumers towards the use of solar energy as an surrogate energy that has greater length of service. Figure 7 – World Natural Gas Consumption Decision Solar energy has been used for centuries. It is a cleaner energy beginning with great potency for a universe where assorted steps are being taken to follow greener, more sustainable patterns. Intermittent Sun, high operation costs and ongoing research into efficient engineerings limit current solar usage. Research into methods of increasing harnessed energy from the Sun will in bend addition solar energy usage which presently is a infinitesimal part of the universe ‘s entire energy usage. There are environmental concerns but these can be minimised with equal handling. To be more sustainable, mankind are suggested to efficaciously reap energy from the Sun. Although the cost of using this solar energy in comparing with of other non renewable beginnings of energy is still comparatively high, through promotions in engineering and research, it is projected to diminish to a degree where it is able to vie with other beginnings of energy such as coal, fuels and natural gas. The Sun, unlike any other energy beginning, is an ultimate energy beginning that may last everlastingly assuring a simple and non-polluting energy.

Saturday, September 28, 2019

Merck & Company, Inc: The Recall of Vioxx Essay

Introduction Geroge W. Merck stated once stated, â€Å"We try never to forget that medicine is for the people. It is not for the profits. The profits follow. Initially, Vioxx was the blockbuster drug that Merck needed due to the upcoming Zocor patent cliff in 2006. With an estimated 27,785 heart attacks and sudden cardiac deaths that could have been avoided if Celebrex had been used instead of Vioxx, Merck faces the possibility of not only having to pay enormous civil and criminal penalties, but also losing the trust of patients. Many parties are partially culpable, but Merck faces the severe uphill battle of regaining a reputation that once served as a market differentiator; in the 1980’s, Merck was voted the â€Å"Most Admired Company in American Business† for seven consecutive years. A critical issue in this case is to analyze the events listed in the case and propose an alternate course of action that may help prevent future deaths from other pharmaceutical drugs while not prohibitively restricting innovative research that could potentially save lives if tested properly. Critical Points and Issues Merck was relying on the success of Vioxx due to Zocor’s expiring patent and the direct competition Vioxx was engaged in with Celebrex, which had a first mover advantage. While Celebrex was also a Cox-2 inhibitor, Vioxx was the only Cox-2 inhibitor proven to be beneficial for ulcers and gastrointestinal bleeding. Once studies came out suggesting that Vioxx contributed to a greater number of cardiovascular problems than naproxen, Merck seemed to opportunistically interpret these results. Furthermore, Merck did not institute any studies that might have found negative cardiovascular results, and management failed to perform a study that focused specifically on the cardiovascular risks of Vioxx. Instead, Merck spent a record amount on advertising the gastrointestinal benefit of the drug in a period of uncertainty. The advertising in the time of uncertainty is really unparalleled, and opens the door to questioning (Appendix). Stakeholder Impacts Merck Merck wanted to discover a drug in the Cox-2 inhibitor class that would compete with another class of drugs known as nonsteroidal anti-inflammatory drugs (NSAIDS). Cox-2 inhibitors were developed to eliminate the most common side effects of other NSAIDs, ulcers and gastrointestinal bleeding, as an estimated 15,000 people die from GI bleeding annually; Vioxx was designed to treat those high-risk candidates. Vioxx was the only Cox-2 inhibitor proven to have a benefit for ulcers and GI bleeding. Thus, the blockbuster status was created: a stronger drug with a proven benefit for ulcers and gastrointestinal bleeding. As the events unfold in the case, the crucial errors occur prior to the decision to recall the drug on September 30, 2004. After Merck learned that patients had double the risk of heart attack or stroke than if they took placebo and two new competing Cox-2 inhibitors were introduced, Merck decided to pull the drug, but it was already far too late. Dr. Eric Topol, a highly regarded cardiologist conducting research at the Cleveland Clinic, was the first researcher to raise questions about Vioxx. While he concluded that Vioxx produces a risk of heart attack five times greater than naproxen sodium, some believed that Merck’s scientists interpreted the data opportunistically; by saying the difference was due to the protective effect of naproxen, this downplayed the important possibility that Vioxx was contributing to cardiovascular problems. Some scientists say that the protective effect of naproxen argument is implausible, and noted that naproxen would have to be three times as effective as aspirin to account for the difference. While the FDA didn’t buy this argument and issued a warning on all Vioxx labels, many began to wonder if this was the first sign of an unethical deception, cover-up, and manipulation by Merck. Additionally, as the label was added, Merck would later ironically cite the VIGOR study in defense o f Vioxx: it increased the risk only in those patients believe to be a high risk. However, Dr. Gregory D. Curfman, editor of the prominent New England Journal of Medicine noted that it had â€Å"solid evidence that important data on cardiac events was deleted or withheld.† Dr. Curfman argued that the three deleted heart attacks occurred in people who were otherwise at low risk for heart problems, which would ultimately discredit Merck’s claim that is only increased the risk for high-risk patients. The FDA’s mild warning hardly curbed the widespread use of the drug, yet Merck continued to advertise its big benefit to consumers more than any other company in 2000 (Appendx): it causes fewer cases of stomach bleeding. However, this is only a problem for a very small percentage of patients. Thus, there was evidence that hundreds of thousands of people were using the drug that didn’t really benefit from its one advantage. Merck seemed to engage in deceptive marketing practices highlighting this benefit and not the immense risks to compensate for its declining financial situation, nor the fact that the drug was designed specifically for consumers that were in the high-risk gastrointestinal category. In March 2000, management first learned the results from a study of 8,100 rheumatoid arthritis patients that began to take the medication in January. The results from the Vigor study should have alerted management to the potential dangers and risks of using Vioxx. However, since the FDA repeatedly approved the drug, this psychologically this seemed to create the illusion that the drug was safe. While evidence was mounting against the potential risks, in 2000 alone, Merck spent $160 million in direct-to-consumer advertising, the highest that year for all drugs. FDA The FDA has commonly been criticized for requiring superfluous testing. However, others argue that drugs are rushed through testing due to enormous pressure from the drug companies. Even after a drug has been approved, many of the risks are still unknown. The mild warning given by the FDA seemed entirely inappropriate, an action that ultimately prolonged the use of Vioxx for consumers that were not high-risk candidates. In Merck’s defense, it was promoting a product that did in fact reduce pain and gastrointestinal problems; however, it omitted the crucial detail that it increased the risk of cardiovascular problems. The FDA responded by giving Merck a warning, but ultimately, the FDA failed in its ultimate duty to protect the American consumer. Doctors The doctors prescribing the medications failed to sufficiently research the medication and seemed to rely too heavily on the influence of Merck salespeople and/or the general public. If physicians were cognizant that only a small percentage of the population would actually benefit from the fewer gastrointestinal problems, but would expose themselves to a potentially higher risk of developing heart problems, the doctors should have at least informed the patients that NSAIDS might be a safer alternative. The risk-benefit for many patients simply was not justified. The mild warning given by the FDA did not prompt most doctors to research the warning, as essentially all drugs have notable risks. Doctors and patients are also usually affected by the psychological affect of new drugs-these drugs are perceived to be better than existing drugs on the market. Knowing this psychological affect on consumers, the doctors may have felt pressured to prescribe the drug if consumers were asking for it after seeing the advertisements. However, Vioxx was first approved for people with a high risk of GI problems. It is estimated that only about 10% of the prescriptions for Vioxx were most likely for patients that had a high risk of GI problems; the drug was widely overprescribed and was not the optimal treatment for many patients. Patients and Advertising As Merck spent over $500 million advertising Vioxx, many critics try to blame Merck for promoting a product that many believed had a risk that severely outweighed the benefit, especially for patients without a prior history of gastrointestinal problems. An underlying problem in the case is that medicines in America are overused. Many health problems can be avoided by a lifestyle change. Patients need to know that all medications are potentially dangerous and should be used sparingly. However, in the Vioxx case, many consumers were ultimately oblivious about the risk-benefit tradeoff, as it was not mentioned in the advertisements or consultations with physicians. Options and Solution Implementation Considering that Merck adheres to the philosophy of its founder, George Merck, â€Å"medicine is for the people. It is not for the profits,† the course of action taken by modern-day Merck executives followed a path seemingly motivated by financial pressures. The executives seemed to believe that the success of the company was heavily reliant upon Vioxx, and wanted to mitigate any negative associations the drug had with cardiovascular problems. When evidence began to come in showing a potential link between Vioxx and cardiovascular problems, Merck did not run any studies that attempting to reveal the cause of the negative cardiovascular results. Management should have listened to Dr. Deepak Bhatt, a cardiologist at the Cleveland Clinic, who proposed a study of Vioxx in patients with severe chest pain to Merck management. Dr. Bhatt commented at the time â€Å"they {Merck} should have done a trial like this. If they {Merck} internally thought this drug was safe in patients with heart disease, there was no reason not to do it.† Management never ordered a test that would directly explain the results of the clinical trial in 2000. The FDA sent Merck a warning letter for minimizing the serious cardiovascular findings. However, a better option would have been for the FDA to put a black-box warning on Vioxx’s label, or stop the direct-to-consumer advertising until the issue was sorted out. Considering Merck operates under the aforementioned motto, Vioxx was not the optimal treatment for the majority of the patients that took the medication. The patients were not aware of this, and Merck’s aggressive marketing campaign reinforced the belief that this was the proper medication for all patients. Many patients were unnecessarily exposed to a risk due to aggressive marketing tactics when other NSIDS would have been the optimal medication for many patients, not to mention at a lower cost. The government should pay for tests that compare new drugs to older drugs. Many older drugs are simply ignored in favor of newer, heavily advertised drugs. Ultimately, it may take several years following approval for side effects to be exposed-a phenomena that could be avoided altogether if this analysis is done. In addition, the patent life of drugs should be extended. Obviously after this tragedy, drug makers should be required to conduct more studies, but the patent life should be extended to mitigate the pressure to rush drugs to market. Another year of testing means another lost year in terms of patent coverage, and many companies feel pressured to rush drugs to market due to the declining exclusivity period. Bringing a drug to market takes roughly 14 years at a cost of $1.3 billion. If companies are forced to go through additional testing, patent lives should be extended to ensure the incentive for future innovation. Additionally, this could help alleviate the pressure placed upon the FDA to rush drugs to market if companies have longer exclusivity periods, allowing the FDA to conduct additional testing that could potentially prevent future problems. Communication Analysis Vioxx was a medication that was designed to alleviate the gastrointestinal problems for high-risk patients. Vioxx was effective for these high-risk patients that did not have weak hearts. The drug should have never been prescribed to 90% of the patients that received the medication. In the end, some people who shouldn’t have been taking the medication died, and the people who could actually benefit from the medication couldn’t use it because it was pulled from the market. Once preliminary evidence began to mount that there was evidence of this potential link, the aggressive advertising should have stopped immediately. Management should have communicated more clearly to the physicians that this medication was primarily for high-risk patients and articulated the cost/benefit more clearly. In addition, ignoring negative evidence seemed to prove management’s confirmation bias. Management’s deceptive promotion of the drug to increase sales has marred the reputation of a company that may never sufficiently recover. The rigidity of management, unethical, and criminal behavior has tarnished a once respected name.

Friday, September 27, 2019

The Harmonisation of International Reporting Standards Essay

The Harmonisation of International Reporting Standards - Essay Example The International Accounting Standard Committee was developed in 1973 by representatives of accounting bodies in Australia, Canada, France, Germany, Japan, Mexico, the Netherlands, the United Kingdom and Ireland and the United States. The aim is to develop International Accounting Standards and to implement those standards (IASCF, 2005). The IASC originally comprises of representatives of 106 professional accounting bodies in 79 countries. (Mckee, 2000) A 14-member board having representatives from 13 countries plus the International Federation of Financial analyst governs it. If was formed with a view to bringing out in the interest of people accounting standard to be used in the presentation of financial statements. IASB has been making constant efforts to deliver to the economy an environment, which has the tendency to attract foreign investment. IASB is trying its level best to promote International Accounting Standards (IASs) to the world and ultimately bring harmonization. The European Union and many other individual countries have started considering IAS. The United Kingdom and the US are the notable exceptions in this regard. The local accounting standards for Ireland and the United Kingdom is the Accounting Standards Board (ASB). Its role was first recognized under the Companies Act of 1985 and it finally took over the role of setting accounting standards in 1990. Before 1990, the accounting standards for the United Kingdom and Ireland were set by the Accounting Standards Committee (ASC). The ASB is allowed up to ten board members. Of these, the Chairman and the Technical Director of the Board work on the board full-time. The ASB typically consults an array of authorities when reviewing proposals for new accounting standards or revisions to old accounting standards, but the Board is ultimately autonomous. All accounting standards that the ASB develops are published as â€Å"Financial Reporting Standards† (FRSs) and â€Å"Statements of Standard Accounting Practices† (SSAPs). The first Financial Reporting Standard was the revision of Statement of Standard Accounting 10, concerning cash flow statements, revised in October 1996 (Dunn, 2002).

Thursday, September 26, 2019

How have transnational NGOs and social movements impacted countries Term Paper

How have transnational NGOs and social movements impacted countries that practice female circumcision - Term Paper Example According to the World Health Organization, approximately 140 million girls have been circumcised all over the globe, of which about 92 million are believed to be from Africa. (Female Genital Mutilation, World Health Organization, February 2012). The origin of female circumcision is not known for sure, however some scholars on the subject speculate that this practice has its origins in the time of the ancient Egyptian pharaohs. This belief is corroborated by the fact that some ancient Egyptian female mummies were found to be circumcised. In today’s times female circumcision is commonly practiced in many parts of Africa. This practice is promoted in three ways by the people who propagate it. The Sunna type where the clitoris is excised, the clitoridectomy  type where the clitoris and minor labia are excised and the infibulations type where the whole clitoris and all the labia are cut off. (M. A. Dirie and G. Lindmark, 1992). The practice has however, been reinforced by Islami c tradition due to the belief that circumcising women dampens their sexual desire and leads to less promiscuous behavior generally. (Asaad M.B, 1980). Countries and cultures that advocate the practice believe that performing the procedure tunes down a woman’s libido. The opposition for female circumcision presents a strong case. ... According to the World Health Organization, female circumcision has no health benefits what so ever and is only a cause of damage. It is apparent with simple deduction that since the practice removes healthy female genital tissue for no medical reason; it will interfere with their normal bodily functions in addition to being the host of a bunch of diseases and infections. There can be instantaneous consequences like pain, shock, hemorrhage or tetanus etcetera or long term consequences which might include bladder and urinary tract infections, cysts, infertility and child birth complications etcetera (Female Genital Mutilation, World Health Organization, February 2012). However, debates regarding this issue are messy because of the cultural, religious, social and political connections to the issue of female circumcision on the side of the advocates of this procedure and thus, reaching a solution is a very complex course of action. The medical views on female circumcision are shrouded w ith confusion because they don’t understand the reason why people do it if it has such dangerous health implications. What needs to be done is that people should look at this practice through a cultural lens to understand its significance and why it means so much to the cultures and people who practice it. Firstly, they look upon this as a necessity according to what their beliefs have taught them. Second, this practice has different meanings for different cultures and people, third, although people who are against this practice to promote gender equality the women it is practiced upon don’t think of it as an infringement of their rights. Although this practice originated from the patriarchal society, it is women that have ensured that it keep being practiced to date.

Employers Duty of Care Essay Example | Topics and Well Written Essays - 1000 words

Employers Duty of Care - Essay Example However, Jake could seek the car owners’ permission to provide the basic checking services for extra charge that would provide revenue for the shop and would not necessarily cause unnecessary work slowdown for those car owners who opted not to avail of these extra services. In so doing, Jake would still be complying with the duties expected from his scope of employment and still adhere to the priorities set by Herman, his manager.2. Explain whether or not Herman is responsible for Jake’s injury.  As employer, Herman is responsible for Jake’s injury primarily since the injury was sustained while doing the responsibilities expected of him in the service department. According to U.S. Department of Labor’s Occupational Safety and Health Administration (OSHA), â€Å"employers are responsible for providing a safe and healthful workplace† (OSHA Law and Regulations, n.d., p. 1). The injuries sustained by Jake form part of OSHA’s regulations that co ver autobody repair and refinishing where injuries that were identified include â€Å"being struck by an object, struck against an object, and caught in an object, equipment, or material† (Smith, 2007). In this regard, it is within the responsibility of Herman, as employer, to ensure that the workplace is safe and that employees, including Jake, are accorded with the appropriate medical attention for injuries sustained within the work setting and in complying with his identified responsibilities.... According to U.S. Department of Labor’s Occupational Safety and Health Administration (OSHA), â€Å"employers are responsible for providing a safe and healthful workplace† (OSHA Law and Regulations, n.d., p. 1). The injuries sustained by Jake form part of OSHA’s regulations that cover autobody repair and refinishing where injuries that were identified include â€Å"being struck by an object, struck against an object, and caught in an object, equipment, or material† (Smith, 2007). In this regard, it is within the responsibility of Herman, as employer, to ensure that the workplace is safe and that employees, including Jake, are accorded with the appropriate medical attention for injuries sustained within the work setting and in complying with his identified responsibilities. Herman should duly comply with OSHA reportorial requirements, as needed. 3. Explain whether or not Jake should be paid the overtime. The payment of overtime is governed by the Fair Labor Standards Act (FLSA) issued by the U.S. Dept. of Labor. The law specified that â€Å"it requires employers to pay covered employees who are not otherwise exempt at least the federal minimum wage and overtime pay of one-and-one-half-times the regular rate of pay† (U.S. Department of Labor, n.d., par. 1). Jake’s responsibilities, despite the noted promotion to service manager, remained the same as a service personnel. In this regard, he should be paid the overtime. As disclosed in the law for exemptions in the availment of overtime pay, â€Å"to qualify for exemption, employees generally must meet certain tests regarding their job duties and be paid on a salary basis at not less than $455 per week. Job titles do

Wednesday, September 25, 2019

Liquidation Damages Essay Example | Topics and Well Written Essays - 1000 words

Liquidation Damages - Essay Example This paper will look at how liquidation damages for Lake River Corp. v. Carborundum Co. were calculated and provide a critical view of the calculation used. Carborundum is a company that manufactures Ferro Carbo. It had entered into a contract with Lake River Company.   In the contract, Lake River Company would receive Ferro Carbo in bulk from Carborundum’s, put it in bags and ship it to Carborundum’s customers. Carborundum insisted that Lake River install a new bagging system to take care of the contract in an efficient manner, which costs $89000. In order to cover the cost and make a twenty percent profit, Lake River insisted on a minimum guarantee clause that ensured that if the full least quantity was shipped the Lake River would make $533000. However, Carborundum only shipped 12,000 of the 22500 tons of the Ferro Carbo at the time when the contract expired.  Carborundum had paid for the amount billed and bagged.   The clause left Carborundum Company owing $241000. That is $533000 (ferro shipped) less what Carborundum had paid. On the other hand, Lake retained 500 tons of bagged Ferro. As such, the issue was whet her the formulae in the minimum guarantee clause inflicts a penalty for breach of contract or whether it was just a deliberate attempt to liquidate damages (Whitney,1985). In this case, the district judge gave a judgment where Carborundum ended up with approximately $42,000. This amount was reached by making use of the following formulae; $269000 +$31000 -$241000-$17000. The last figure represented the prejudgment interest on the Lake river damages (Whitney, 1985). Here the damage formulae were designed in such a way that it will assure the Lake River Company receives more than the actual damages it incurs. This makes it a penalty. It was noted that, since Lake River did not do much work, they were not

Tuesday, September 24, 2019

Paper that assesses the legal problems of genuineness of assent and Essay

Paper that assesses the legal problems of genuineness of assent and what condition must prevail in order for a contractual offer to be null and void relative to absense of genuineness - Essay Example Agreements or promises made must be consented to in order to bind all the parties to a contract. Essentially, the contracting process has to be genuine. If the genuineness of assent is questionable, the underlying contract(s) might fail to be legally binding. However, there are legal challenges involved relative to proving lack of genuineness of assent in a contract context. The enforceability of a contract is subject to genuineness of assent (Miller, 2012). Contracts are effectively and efficiently performed where genuineness of assent is not questionable. When genuineness of assent is characterized by doubt or lack of it altogether, legal provisions applicable to the contract context take their course. In this respect, the primary legal problems and challenges that surround genuineness of assent include mistake, misrepresentation, undue influence, or duress (Miller, 2012). The occurrence of these factors in a contract jeopardizes voluntary consent. Mistakes in contracting can be made by one or more parties. In most cases, mistakes in contracting are either factual or value-based. On its part, misrepresentation encompasses fraudulent and non-fraudulent practices that could be perpetrated by one, more than one, or all the contracting parties. Where a contracting party’s free will is overcome by the influence of another party resulting in contract consent that is not driven by free will, undue influence is realized (Miller, 2012). Moreover, an agreement or promise made under threats or force is not genuine; an aspect referred to as duress. All these issues constitute legal problems involved in contracting as far as genuineness of assent is concerned. For a contractual offer to be null and void relative to absence of genuineness, there are conditions that must be satisfied relative to mistake, misrepresentation, undue influence, or duress in contracting (Miller, 2012). Whether the mistake is unilateral or

Monday, September 23, 2019

Ethics in Law Research Paper Example | Topics and Well Written Essays - 1250 words

Ethics in Law - Research Paper Example The underlying principle of ethics in law enforcement entails stipulation of responsibilities of a police officer. A police officer is mandated with the responsibility of working within the law. His powers and duties must conform to the provisions of statute that outlines their responsibilities. Their fundamental duties includes serving people, maintaining peace, protecting lives and properties as well as ensuring that there is equality in the service delivery to all citizens (Moore and Perez 11). Nevertheless, some police officers conduct themselves in unprofessional manner both in their line of duty and while not working. People have a tendency of monitoring every conduct of police officers perhaps because they are expected to lead by example. Any actions that deviate from what they are expected to do, they are criticized and condemned. However, not every conduct of police officers can be well articulated or stipulated in the law. For instance, there has always been a great debate on whether police officers should take gratuities from the public. However, determination of the ethical issue involved in such a deed goes beyond what law provides. For instance, the issue of the intention of the officer when receiving the gratuity comes in. Some people argue that an officer can accept gratuity from members of the public only if they do not ask for it. Conversely, the issue of human rights and how suspects need to be handled by police officers during arrest has always been contentious. For instance, it has always remained ethical dilemma on what a police officer should do to suspects that resist arrest. It is apparent that lawyers have always had issues with their clients in regard to their conduct during judicial proceedings. However, law societies have with time provided leadership in legal issues by designing professional standards that governs lawyers. Values have been argued

Sunday, September 22, 2019

Developing Managers in Business Essay Example for Free

Developing Managers in Business Essay Success in the knowledge economy comes to those who know themselves, their strengths, their values, and how they best perform (Peter Drucker) The main aim of this report is to focus on a particular management development programme and by identifying how it works to determine whether it has been effective in developing the manager for its business. The report looks at how certain management development programmes have been used to become shift/duty manager for a particular organisation. It identifies a range of formal and informal approaches that have been used to ensure effective outcomes. It also includes examining the main external and internal factors that have influenced management development. Furthermore the report identifies any shortcomings and changes that are required to improve the process of developmental management. The main method used to conduct this report was obtaining first hand information from a shift/duty manager at a local food industry; however, relevant literature resources have also been used to support views, evaluations and recommendations made. Rosemary Stewart who has been noted for studies of organisations and managers in action. Based on: Managers and their Jobs, (1967/1987) identified four approaches to defining the term management. Theses are as follows: 1. Theoretical approach: this is based on the development of theories of management, using approaches focused on political, economical, sociological, psychological or anthropological theory and philosophy. 2. Descriptive approach: has been given a very simple definition, the job that managers and supervisors do. 3. Comparative approach: based on the hierarchical organisation and structure within an organisation, also focused on comparison and evaluation methods: 4. Action-based approach: this focuses more on the way that those defined as managers spend their time: management as the activities carried out by managers What is management development? According to Lessem, R (1990) developmental management is humanistic in essence in other words the developmental manager values the whole team and values them for their inter-dependence. In order to fully understand the concept of management development it is essential to know of its historical roots. In the workplace individuals and managers unaware of certain behaviour patterns will unintentionally damage their personal effectiveness. When a manager understands the unique differences between individuals then they are in a more powerful position. They are better able to manage, understand, and lead people towards higher level of productivity, lower frustration, higher morale, and better retention rates. The type of management development programme focused on in this report is basic management training from shift/duty managers. The course itself was split into residential and in-store training with a mentor. The total residential training lasted for eight days at a national training centre and head office. The time limit given to complete the modules specified for this particular programme was twelve weeks, in-store with a mentor. However, twelve weeks being a rough guide as some required more time and candidates regularly completed the modules outside this limit. The course was tailored not only for people with experience but also for example graduates who would have had little or no experience in managing a shift. However, as this particular programme was centred towards the duty manager level its main focus was around people management, whereby it would deal with; staff motivation levels, training, receiving and giving feed back, appraisals etc, rather than actual business management i.e. managing a profit and loss account. There were seventeen modules that needed to be completed, below is a table explaining briefly what these modules were: Modules: Programme: 1-3 Orientation and Getting Started. (was completed during residential) 4-5 Cleanliness, Sanitation and Food Safety. Begins by basic training as would be for all members of staff within the organisation, then becomes more involved in how to effectively manage a team to ensure food safety and cleanliness standards are high as they are constantly observed and monitored. 6-7 Safety, Security and Crisis Management. How to ensure the safety of staff and customers on shift, including health and safety. Basically teaches the manager how to deal with anything from a power cut to an armed robbery. 8-9 Product Excellence. Begins quite basic as to how to identify an out of date product, then becomes more in depth regarding basic stock control, ordering procedures etc. 10-12 Basic Human Resource and Labour Management. Dealt with how to effectively manage a team, including exercises on legal responsibilities of a manager with regards to discrimination, grievance procedures and disciplinary action as well as staff training issues, coaching, how to motivate a team and managing cost of labour on a shift-to-shift basis. 13 Service Recovery. How to prevent, anticipate and deal with customer complaints and how to effectively observe and analyse team member performance to reduce the risk of a complaint. 14 Opening the Restaurant. 15 Shift Change. 16 Closing the Restaurant. The above three points (14-16) are self explanatory. Trainee managers were expected to work through these whilst observing the mentor complete the tasks in order to see how the aspect of previous modules were put into practice for example; stock control, security, cost of labour etc. 17 Floor Management. Dealing with problems prior to them becoming formal complaints or even accidents. This included the figure of eight walk, prioritising new unexpected tasks and team member recognition. The modules were very general, however, before putting theory into practice observation played a vital role, whereby trainees were to observe their mentors completing certain tasks in order to learn how to tailor tasks to suit the environment. Upon completing the training there was a test followed by an interview with the Area Manager in which the test results were discussed and the standards of completed modules were assessed. The informal approaches used whilst completing the management development programme was the mentor advising best practices for within the restaurant. The formal approaches used were the completion of modules and work books as well as observations where both candidates were observing the mentor and the mentor observing the candidate. The programme in itself prepared the trainees for a position as duty manager. The programme was learner centred and in some cases lack of motivation or resources meant that it lasted longer than the original given deadline of twelve weeks. There were both external and internal factors that influenced the development of duty/shift managers working. The main external factors were that being a food preparation industry, there were many laws and government regulations pertaining to food, safety and obviously regulations for health and safety and employment laws that needed to be learned and put into practice. The main internal factors that influenced management development were the standards set by the company which every manager and team member were expected to have extensive knowledge of. This covered every aspect of the business from the way tables were set to uniform standards to dealing with complaints in a professional manner, which involved more in depth training for management trainees. Although the training provided to trainee managers was quite extensive, practical experience gained via mentors seemed more knowledgeable, as stated quite clearly in the quote below from a previous trainee manager: I feel that I learned a lot from the course, the modules and the work books as it introduced me to a lot of legal aspects of the food industry which I would not have learned otherwise, but I found that I learned more from the time spent with my mentor about how to be a manager that team members respected. As recognised by A.Mumford (1993) there are five stages in the evolution of thought about what managers do; these are [1] The generalisation stage [2] The scientific stage [3] The management by objective stage [4] The contingency/ realistic stage [5] The competency stage .. Many organizations are turning to behaviour assessments and personality trait testing for both hourly workers and managers. Back in the late 90s, only 5 percent of 500 companies used some type of assessment. Today, that figure is climbing to 65 percent. A year 2000 study by American Management Association showed nearly half of 1,085 employers polled use at least one assessment in their interviewing process. Assessments can help: * Individuals identify their strengths, know which jobs they are best suited for, and design a development plan to overcome shortcomings. * HR managers predict a job applicants success before they are hired. * Business owners understand the temperament and work style of individual employees and managers. * Supervisors can give performance feedback to people in a style they understand and accept for improving performance and accelerating professional development. * People enhance communication, understanding, and improve personal relationships. * Sales managers select, hire, develop, and motivate super sales people. For example a company would use the assessment process to improving their hiring and recruitment process. If for instance, previously they made decisions based on the candidates resume and then hired the person based on their gut reaction. Once hired, many of these new people created friction, had bad work ethics, and their attitudes had a negative impact on their co-workers. Conclusion: Developing people is less expensive than firing them. By understanding behaviour differences an organization can align an employees motivations with the companys mission. Assessments also help individuals reduce conflict and get along better. Furthermore, co-workers appreciate each persons unique strengths and abilities. With this knowledge organizations and managers can maximize the abilities of their workforce in ways to help make all employees star performers. References: Lessem, R. (1990) Developmental Management: principles of holistic business Oxford, Basil Blackwell Managers and their Jobs (Penguin, 1977, new edition 1988); The Reality of Organisation (Penguin, 1972, new edition 1986); The Diversity of Management 1994.

Saturday, September 21, 2019

Theories of Terrorism Motivations

Theories of Terrorism Motivations Introduction Terrorism has been depicted contrastingly as both a methodology and procedure; a wrongdoing and a favored responsibility; a pushed response to misuse and an indefensible an utter loathing. Evidently, a ton relies on upon whose perspective is being tended to. Terrorism has reliably been a convincing technique for the weaker side in a clash. As a topsy-turvy appearance of clash, it directs coercive vitality with different the slant of military essentialness at a little measure of the expense. In light of the mysterious nature and negligible size of terrorist affiliations, they reliably offer matches no suitable relationship to make arrangements for or to piece. Causes of Terrorism and their Motives Discrimination/Alienation A few creators on terrorism have indicated a feeling of distance felt by Diasporas, especially the once who now live in Europe as terrorism drivers. Ordinarily these gatherings face separation in the nations they live, prompting further emotions of segregation. They generally move from poorer nations, especially Muslim states on account of Europe, to those who are rich ones to go to class or discover work. As Marc Sageman from the book he wrote â€Å"Understanding Terror Networks†, at a particular time in this nations they start to feel estranged. The new have country is considerably not the same as their own way of life, and is generally a great deal less group arranged. This reasons estranged people to search out groups with societies like their nations of origin or others like themselves. These gatherings may get to be bored towards society around them as they dont fit in and feel rejected. Becoming notions of segregation can lead gatherings to look to more moderate, and in the end, radical belief systems. (Sageman, 2004). The Hamburg Cell, comprising the two out of the four pilots in the 9/11 terrorist assaults, is an immaculate sample of this. The cell incorporated various exile Muslims mulling over in Germany who searched out other preservationist Muslims to gather as one when they felt achy to go home in a Western culture that was outsider to them. This is when they started the radicalization trail as they got to be more tainted with their general surroundings. Robert Leiken additionally examines this sensation in his paper Europes Angry Muslims. Leiken focuses to both untouchables, Muslims who moved so as to study or look for shelter, and insiders, second or third era Muslims in Europe. These gatherings are subjected to biased social approaches, for example, the law in France about the headscarves, which later caused them to wind up radicalized. The issue here, especially on account of Europe, is that a large number of these exiles who get to be radicalized because of estrangement from being in an outside society likewise hold European identifications and accordingly can go inside Europe without any difficulty, and enter the U.S. much simpler than non-Europeans. Thusly they posture not just a risk to Europe, additionally to the United States. (Leiken, 2005). Religion Maybe the most typical way of thinking today is that terrorism is brought on by religion. Despite the fact that it is not the fundamental driver for terrorism, religion does assume a huge part in driving a few manifestations of it. As Hoffman brings up in Inside Terrorism, from the Thugs of antiquated India that killed to threaten for the sake of their god known as Kali of the Jewish Zealots who at ancient times cut-off the throats of the Romans out in the open to battle their control over the Israelites, religion (together with ethno-patriot/political drivers) has long been a component of terrorism. Today religion as a piece of terrorism has been predominantly ascribed to Islamic fundamentalism (however different cases, for example, the Aum Shinrikyo clique that completed the 1995 sarin gas assaults in Tokyo, likewise exist). (Hoffman, 2003). As Sageman portrays: The worldwide Salafi jihad is an overall religious Pentecostal development with the objective of restoring past Muslim superbness in an incredible Islamist state extending from Morocco to the Philippines, killing present national limits. As a driver of terrorism, the genuine threat that religious regulation stances is its consolation of assaults that are more vicious in nature than different sorts of terrorism. By being guaranteed remunerates in existence in the wake of death, terrorists are more prone to complete suicide bombings and other such all in strategies that are harder to protect against. (Sageman, 2004). Socio-Economical Status Terrorists might likewise be determined by a feeling of relative depravation and absence of upward portability inside society. Globalization and the present day media have given the less wealth’s an intense attention to their circumstance contrasted with those who are well off. As Omer Taspinar when he mentioned Fighting Radicalism, Not Terrorism, Globalization makes an intense mindfulness about circumstances accessible somewhere else. This prompts dissatisfaction, exploitation, and embarrassment among becoming accomplices of undereducated, unemployed and urbanized Muslim teenagers having the capacity make correlations crosswise over nations. Seeing the financial contrasts in the middle of themselves and the Western world can incense some in immature nations, expanding strain and dangers. This permits terrorist associations to pick up consideration and section to social orders that have felt wronged by these apparent social treacheries. Lamentably the main genuine approach to moderate this is through monetary improvement of the group, nation, and area, however that requires significant investment. For a long time to come there will dependably be those that are disappointed by the examination of living principles of the rich around the globe versus their own, opening the ways to dissatisfaction and resentment. Along these lines, this driver is amazingly difficult to battle as globalization considers more instruments of correlation between differing worldwide financial levels. (TaÃ…Å ¸pÄ ±nar, 2009). Political Grievances An absence of political comprehensiveness in grievances or states that are against a particular political request may cause people to join or make terrorist bunches. Left and conservative terrorists regularly look to a political framework. Too, numerous in countries with dictator administrations need streets for dispute. Baffled representations of political will can turn to roughness as an option to restrictive political frameworks. While to some degree like ethno-patriot/separatist causes, these political grievances are not conceived from the longing to make another state however to change the request inside the current one. In his piece, Taspinar depicts this as a relative depravation to the political measurement. In this context, Taspinar sees the politics of Islam as a response to such abusive governments and its Western supporters. With the learning that other individuals as far and wide as possible live in illustrative governments, the outrage just develops among the individuals who live without such political representation, driving baffled people into the arms of terrorism. The suggestion here is that Western governments, in their backing of abusive dictator administrations for their own particular national investment, have basically made themselves focuses of terrorism of an irritated masses inside these administrations, carrying on roughly as the main option to political declaration. Ethno-patriotism The craving of a populace to split far from an administration or decision control and make a condition they could call their own can result in the development of terrorist gatherings. In the twentieth century this was seen regularly with areas or states endeavoring to pick up freedom from their frontier time aces. Then again, as Bruce Hoffman calls attention to in Inside Terrorism, this type of terrorism, ethno-patriot, had been around for years before even the commencement of the First World War. Maybe the most eminent of these gatherings, structured previously, then after the fact WWII and motivated by the debilitating of royal forces, was the Jewish Irgun Avai Leumi who battled British run in Palestine to achieve the production of a Jewish state. (Hoffman, 2003). Today Hamas is a standout amongst the most dynamic ethno-patriot driven gatherings doing suicide bombings and assaults against the condition of Israel with the objective of making a Palestinian state. Chechen terrorist as sociations are additionally ethno-patriots for their assaults against the administration and individuals of Russia in the endeavor to structure their own state. Inside numerous nations around the globe minority gatherings exist wishing to accumulate some type of autonomy, if not their own state by and large. Hence ethno-patriotism will keep on being a critical wellspring of terrorism. It is imperative to perceive this and counter it with all the more politically comprehensive courses of action that can alleviate the grievances of minority gatherings, however some will inescapably keep on utilizing terrorism until they accomplish their wanted free country. The Accidental Guerrilla At long last, there is the hypothesis set forth about the inadvertent guerrilla by David Kilcullen. Kilcullen portrays it accordingly: A terrorist association moves into a zone with poor government or that is clash ridden (he utilizes Al Qaeda particularly), then uses this place of refuge to spread their philosophies to different ranges and as a base to complete vicious acts. At the point when outside powers then mediate to manage the danger postured to them by this gathering, this causes the nearby populace to reject the remote intruders and associate with the terrorist bunch, accordingly making more terrorists and prominent backing for terrorist developments. The instances of U.S. mediation at Iraq and Afghanistan to counter the militia group, Al Qaeda are the undeniable illustrations here. This hypothesis offers solid conversation starters about the suitability of direct intercession in quest for terrorist bunches by Western nations, and whether it causes more damage than great. ( Kilcullen, 2009). References Hoffman, B. (2003). The logic of suicide terrorism. Kilcullen, D. (2009).  The accidental guerrilla: Fighting small wars in the midst of a big one. Oxford University Press. Sageman, M. (2004).  Understanding terror networks. University of Pennsylvania Press. Eizenstat, S. E., Porter, J. E., Weinstein, J. M. (2005). Rebuilding weak states.Foreign Aff.,84, 134. Sinai, J. (2007). New trends in terrorism studies: strengths and weaknesses. Mapping terrorism research: State of the art, gaps and future direction, 31-50. Mousseau, M. (2006). Market civilization and its clash with terror. TaÃ…Å ¸pÄ ±nar, Ãâ€". (2009). Fighting Radicalism, Not Terrorism: Root Causes of an International Actor Redefined.SAIS Review of International Affairs,29(2), 75-86. Leiken, R. S. (2005). Europes angry Muslims.Foreign Affairs, 120-135.

Friday, September 20, 2019

Alienation in Samuel Becketts Waiting for Godot Essay -- Waiting for

Alienation in Samuel Beckett's Waiting for Godot    The alienation of humanity from truth, purpose, God, and each other is the theme of Samuel Beckett's play, "Waiting for Godot." The play's cyclical and sparse presentation conveys a feeling of the hopelessness that is an effect of a godless, and therefore, purposeless world. Lack of communication, the cause of man's alienation, is displayed well through absurdist diction, imagery, structure, and point of view. The intent of the play is to evoke a feeling of incompleteness and depression. The conversation between Vladimir and Estragon, the protagonists of "Waiting for Godot," seems to be void of meaning. The play begins with "nothing to be done" and ends with an unfulfilled "Yes, let's go." Suicide was often mentioned and reasoned through in passing, as though their deaths mattered neither to them nor anyone else. Their deaths were barely even recognized by them as a change. They argued about shoes and carrots when Estragon, the representative of materialistic human nature, was concerned about it. They argued about the thief's presence in only one of the gospels and spiritual matters when Vladimir initiated conversation. A minor goal discussed by Vladimir and Estragon was to "pass the time," though they often forgot what day it was, not to mention whom they'd met, where they'd been, and why it ever mattered. Vladimir and Estragon engaged in dialogue with passing travelers Pozzo and Lucky. Lucky's speech was a faultless example of the play's meaning. The outward appear ance of Lucky's words was that he was a fool who once held power over a great vocabulary, but could only toss words together in a confounding miscellany at that time. Just as a deep feeling about the absence... ...keep waiting because Godot promised to come tomorrow. But tomorrow never came. In both Lucky's speech and the play, the characters, reader, and thesis are left unsatisfied. There is no conclusion to Lucky's speech. He simply babbled on until his listeners removed his thinking cap. The play leaves Vladimir and Estragon still waiting. Knowing no god, Beckett sees life as futile and mocks both life and death in his play. Beckett can arouse emotions from his audience by not arranging his play in an emotional way. Absurdist theater is far from the melodramatic tragedies of stereotypical plays. "Waiting for Godot" is antisocial, devoid of superficial meaning, and empty to its core simply because of its blank, forgetful, and meaningless aspects. Yet beneath this clever camouflage is a depth of depression, sprung from a fountain of godless life and non-communication.

Thursday, September 19, 2019

The Flag of India Essay -- Papers

The Flag of India The Indian flag consists of orange, white and green bands. The color orange stands for courage in there country, white for peace, and green for fertility. A Buddhist emble called a dharma charka lies in the center of the flag. The land India borders a lot like China, Nepal, and Bhutan (that is to the North). Pakistan to the west and Bangladesh to the East. 1 â€Å" India boasts many great mountain ranges, including the Vindhya Range, which divides northern and southern India. The Himalayan mountain range in northern India consists of some of the highest peaks in the world.† The climate 2 â€Å" India has about three main seasons – summer is one from March to May, the rainy season from June to September, and then winter from October to February.† 2 The plants and the animals India supports approximately 45,ooo plant species, some which are not found anywhere else in the world except here. India’s most well-known...

Wednesday, September 18, 2019

Music Therapy for Post Traumatic Stress Disorder Essay -- Post-traumat

1. INTRODUCTION â€Å"A Person cannot be diagnosed with PTSD without having experienced a traumatic event.† (Hunt and McHale, 2010, p.13). The purpose of this essay is to discuss how Music Therapy can be used to help veterans suffering from PTSD to cope with their traumatic experiences and manage their symptoms. I will define PTSD, then in further detail explore and explain how music therapy can be used to treat and manage the symptoms of PTSD. Finally, I will evaluate if Music Therapy is a suitable intervention for helping veterans treat the symptoms of PTSD. This essay will explore the perspectives of music therapists including Julie Sutton and Gary Ansdell and research of Psychologists Paul Gilbert, Nigel Hunt and Sue Mchale. 2.1 DEFINITION OF PTSD Psychologists Hunt and McHale (2010, p.20) state that according to the Diagnostic and Statistical Manual of Mental Disorders (DSM): In order for someone to be classified as having PTSD, there must be: 1) a traumatic event 2) intrusive re-experiencing 3) avoidance and general numbing 4) hyper arousal 5) problems stemming from these symptoms at work and home 6) a minimum duration of one month This definition is helpful in providing a music therapist with a clear classification system to decide whether a veteran being referred to them, is displaying symptoms related to PTSD. 2.2 THE USE OF ACTIVE LISTENING TO PROMOTE DIAPHRAMATIC BREATHING According to Whealin, De Carvhalo and Vega (2008, pp.22-25): When we have survived extremely stressful or dangerous situations, the amygdala can start to be overactive. That is why when veterans return from war, they often feel alarmed even when they are not in danger. There are a number of skills you can ... ...a Kingsley Publishers, pp.13-75. Bunt, L. and Hoskyns, S. (2002) The Handbook of Music Therapy. London: Routledge, pp.190-195. Bunt, L. (1994) Music Therapy: An Art Beyond Words. London: Routledge, pp.171-175. Bright, G. (1997) Wholeness in Later Life. London: Jessica Kingsley Publishers, pp.119-123. Gilbert, P. (2010) Compassion Focused Therapy. London: Routledge, pp.135-145. Hunt, N.C. and McHale, S. (2010) Understanding Post Traumatic Stress. London: Sheldon Press, pp. 13-25. Jones, E. and Wessely, S. (2005) Shell Shock to PTSD. Hove: Psychology Press, pp.215-220. Sutton, J.P (2002) Music, Music Therapy and Trauma: International Perspectives. London: Jessica Kingsley Publishers, pp.231-257. Whealin, J.M., Decarvahlo, L.T. and Edward, M.V. (2008) Clinician’s Guide to Treating Stress After War. New-Jersey: John Wiley and Sons, pp.20-30.

Tuesday, September 17, 2019

Malaysia †Quarterly Balance of Payment in 2010-2012 Essay

This report is focused on the analysis of Malaysia’s balance of payment for last six quarters (from Q3/2011 to Q3/2012). It will show the impact of balance of payment to economy or the financial crisis. The last part of this report will involve the summary and the forecast the Malaysia’s balance of payment in the future. Third quarter of 2011 Current account: the current account balance recorded a surplus of RM26.6 billion, an increase of RM3.2 billion (13.8 percent). This higher surplus was attributed to: the lower net payments on income of RM3.8 billion higher surplus on goods of RM38.2 billion. Goods Account: the surplus on goods increased to RM38.2 billion by Exports FOB expanded by RM5.0 billion to record RM176.7 billion. The demands for exports FOB was mainly contributed by electrical & electronic products, palm oil & palm oil based products and liquefied natural gas (LNG). Moreover, Imports FOB posted RM138.5 billion, an increase of RM3.1 billion (2.3 percent). This was attributed to higher value of imports Services Account: Exports of services registered RM26.6 billion. Meanwhile, imports of services posted RM29.0 billion. On net basis, the services account experienced higher deficit of RM2.4 billion from RM0.7 billion previously. This was mainly due to: 1. lower net receipts in travel account of RM5.5 billion from RM6.7 billion; and 2. higher net payments in transportation account of RM6.7 billion from RM6.3 billion. Income Account: income receipts recorded RM13.9 billion from RM11.2 billion previously, of which investment income recorded RM13.0 billion and compensation of employees RM0.9 billion. On the payments side, income account registered RM17.8 billion from RM18.0 billion, of which investment income recorded RM16.3 billion and compensation of employees RM1.4 billion. So there was more investment in Malaysia. Current Transfers: Net payments on current transfers remained unchanged. Capital account: In the current quarter of 2011, the capital account recorded a higher net outflow of RM58.0 million from that of RM26.0 million posted last quarter. Year-on-year, net outflow of capital account narrowed from RM63.0 million. Cumulatively, the capital account recorded lower net outflow of RM97.0 million from RM166.0 million in the first nine months of 2010. Financial account: The financial account reverted to net outflow of RM23.3 billion from net inflow of RM44.5 billion previously. This was mainly due to a swing in portfolio investment from net inflow of RM48.1 billion to net outflow of RM23.4 billion. Direct Investment: direct investment posted net outflow of RM7.7 billion, consisting of DIA: higher net outflow of RM12.9 billion. The major sectors attributed to DIA were financial & insurance, oil & gas, and construction. FDI: lower net inflow of RM5.2 billion. FDI inflows were primarily channeled into manufacturing, oil & gas, and wholesale & retail trade sectors. Portfolio Investment: Portfolio investment reverted to net outflow of RM23.4 billion from net inflow of RM48.1 billion previously. Year-on-year, portfolio investment also showed a turnaround from net inflow of RM18.3 billion a year ago. Reserve assets: The international reserves Bank Negara Malaysia increased by RM10.9 billion in the current quarter as compared to an increa se of RM61.7 billion in Q2 2011. Fourth quarter of 2011 Current account: the current account recorded a surplus of RM22.0 billion, a decrease of RM4.6 billion. The lower surplus was reflected in: higher net payments on income of RM5.6 billion, higher net payments on services of RM4.0 billion, and lower surplus on goods of RM36.9 billion. Goods Account: goods registered a lower surplus amounting to RM36.9 billion from RM38.2 billion a quarter ago. This was attributed to the higher imports FOB. The demand for exports FOB was mainly associated to electrical & electronic products, palm oil & palm oil based products and liquefied natural gas (LNG). In the meantime, there was the higher imports FOB Services Account: exports of services registered higher net receipts of RM28.1 billion, an increase of RM1.5 billion. Meanwhile, imports of services increased by RM3.0 billion (10.3 per cent) to record RM32.0 billion from RM29.0 billion in Q3 2011. In terms of net, the net payments on services account broadened to RM4.0 billion from RM2.4 billion pre viously. This was mainly due to higher net payments on other services amounting to RM3.2 billion as compared to RM1.1 billion in July – September 2011. Income Account: In the current quarter, income receipts recorded RM14.7 billion from RM13.9 billion in the preceding quarter. The RM0.8 billion increase was reflected in higher receipts on investment income of RM13.8 billion, while compensation of employees consistently maintained receipts of RM0.9 billion. On net basis, the outlay on income account widened to RM5.6 billion from RM3.8 billion. This was contributed by higher net outlay on both investment income of RM4.8 billion and compensation of employees of RM0.8 billion. Current Transfers: Net payments on current transfers continued to record RM5.3 billion for three consecutive quarters. Current transfers saw an increase in both receipts and payments amounting to RM1.5 billion and RM6.8 billion. Capital account: In Q4 2011, capital account posted lower net outflow of RM54.0 million from RM58.0 million in Q3 2011. This was mainly due to lower net payments on capital transfers from RM34.0 million to RM16.0 million. Financial account: In the quarter under review, financial account posted net inflow of RM0.2 billion, a reversal from net outflow of RM23.3 billion. This scenario was supported by the lower outflow in portfolio investment of RM2.7 billion, coupled with higher inflow in other investment of RM11.2 billion. Direct Investment: Direct investment posted a net outflow of RM7.9 billion from RM7.7 billion last quarter, of which: DIA: higher net investment outflow of RM14.3 billion. The major sectors attributed to DIA were oil & gas, financial & insurance, and utilities. FDI: higher net inflow of RM6.5 billion. FDI inflows were primarily channeled into manufacturing, oil & gas, and wholesale & retail trade sectors. Portfolio Investment: Portfolio investment registered lower net outflow of RM2.7 billion from RM23.4 billion attained last quarter. Year-on-year, portfolio investment reverted from net inflow of RM3.5 billion to net outflow of RM2.7 billion. Reserve Assets The international reserves of Bank Negara Malaysia increased by RM6.3 billion in Q4 2011 as compared to an increase of RM10.9 billion in Q3 2011, stood at RM423.4 billion as at end of 2011. First quarter of 2012 Current account: In the period January – March 2012, current account recorded lower surplus of RM18.1 billion from RM22.4 billion in Q4 2011. This was mainly attributed to: Income account: A higher net outflow of RM8.6 billion Goods account: A lower surplus of RM35.8 billion. Goods Account: goods registered lower surplus of RM35.8 billion (-RM1.0 billion or -2.8 per cent) from RM36.8 billion last quarter. This was due to decrease in exports FOB larger than that of imports FOB Services Account: exports of services registered RM27.9 billion from RM29.0 billion during Q4 2011, consisting of the following components: transportation of RM3.3 billion, travel of RM14.7 billion, other services of RM9.9 billion, and government transactions of RM49.0 million. Meanwhile, imports of services decreased. On net basis, services account remained unchanged Income Account: On net basis, the income outlay widened by RM3.3 billion to RM8.6 billion from RM5.3 billion recorded in the preceding quarter, specifically due to higher net outlay on investment income of RM7.8 billion from RM4.5 billion. Current Transfers: current transfers continued to record net payments RM5.3 billion. Both receipts and payments saw an increase amounting to RM1.5 billion and RM6.8 billion. Capital a ccount: capital account posted higher net outflow of RM166.0 million from RM55.0 million in Q4 2011. This was mainly due to higher net payments on capital transfers to RM93.0 million from RM17.0 million. Financial account: financial account recorded a higher net outflow of RM10.3 billion from RM0.2 billion posted in previous quarter. This higher net outflow was mainly attributed to other investment: reverted to net outflow RM26.1 billion from net inflow RM11.0 billion, and direct investment: higher net outflow of RM9.4 billion from RM8.2 billion. Direct Investment: Direct investment registered a net outflow of RM9.4 billion from RM8.2 billion last quarter, of which: DIA: higher net outflow of RM16.9 billion which were wholesale & retail trade, financial & insurance, and health services. FDI: higher net inflow of RM7.5 billion. FDI inflows were primarily channeled into oil & gas, financial & insurance, and manufacturing sectors. Portfolio Investment: The portfolio investment switched to net inflow of RM25.3 billion from net outflow of RM2.7 billion previously. Meanwhile year-on-year, portfolio investment registered higher net inflow by RM16.9 billion to RM25.3 billion. Other Investment: In the current quarter, other investment reverted to a net outflow of RM26.1 billion from a net inflow of RM11.0 billion. This was attributable to a turnaround in the private sector to -RM25.6 billion from a net inflow of RM11.1 billion. Reserve Assets: The international reserves of Bank Negara Malaysia decreased by RM7.2 billion in Q1 2012 as compared to an increase of RM6.2 billion in Q4 2011, stood at RM416.1 billion as at end of March 2012. Second quarter of 2012 Current account: In April – June 2012, current account balance showed a lower surplus of RM9.6 billion, a decrease of RM8.5 billion from RM18.1 billion attained a quarter ago. The lower surplus was reflected in: Goods account: recorded lower surplus by RM6.4 billion to RM29.4 billion from RM35.8 billion; and Income account: the net outlay widened by RM3.1 billion to RM11.7 billion from RM8.6 billion. Goods Account: the current quarter, the goods account registered a lower surplus of RM29.4 billion as compared to RM35.8 billion in the previous quarter. This was due to imports FOB which expanded at a faster pace (7.3 per cent) relative to that of exports FOB (2.1 per cent). Exports FOB increased to RM177.7 billion compared to RM174.0 billion in Q1 2012. This was mainly contributed by higher exports for electrical & electronic products and palm oil & palm oil based products. Imports FOB rose to RM148.2 billion. This was due to higher domestic demands for imports by end-use for three major categories namely intermediate goods, capital goods, and consumption goods. Services Account: In the quarter under review, exports of services registered RM28.9 billion from RM27.9 billion last quarter. Meanwhile, imports of services increased by RM0.7 billion from RM31.7 billion a quarter ago, of which: transportation of RM10.4 billion, travel of RM9.0 billion, other services of RM12.8 billion; and, government transactions of RM194.0 million. On net basis, services account posted lower net payments of RM3.6 billion from RM3.8 billion last quarter. This was led by a lower deficit on other services from RM2.5 billion to RM1.8 billion. On the contrary, transportation posted higher net payments of RM7.1 billion while travel recorded lower net receipts of RM5.4 billion. Income Account: In the current quarter, income receipts registered RM9.0 billion from RM9.6 billion in Q1 2012. On net basis, the income outlay broadened to RM11.7 billion from RM8.6 billion posted in the previous quarter. This was solely due to higher net outlay in investment income amounting to RM11.1 billion. Meanwhile, compensation of employees recorded a lower net outflows of RM0.6 billion. For the first half of 2012, the deficit on income account broadened to RM20.3 billion, affected by higher net payments on investment income Current Transfers: In the quarter under review, the net payments on current transfers narrowed to RM4.6 billion. Both receipts and payments increased to record RM2.3 billion and RM6.9 billion. Capital account: In Q2 2012, the capital account registered lower net outflow of RM67.0 million from RM166.0 million last quarter. This was due to lower net outflow on both capital transfers and non-produced, nonfinancial assets by RM60.0 million and RM40.0 million, respectively. Financial account: In the quarter ended June 2012, the financial account turned around to a net inflow of RM5.4 billion from net outflow of RM10.3 billion previously. This movement was driven by a switch in both other investment and direct investment. On the contrary, portfolio investment saw a reversal to net outflow of RM5.0 billion, from net inflow of RM25.3 billion. Direct Investment: The direct investment switched to a net inflow of RM3.5 billion from a net outflow of RM9.4 billion last quarter, of which: DIA: recorded lower net outflow of RM2.5 billion. These investments were largely directed into oil & gas, real estate, and financial & insurance sectors. FDI: lower net inflow of RM6.1 billion, decreased by RM1.4 billion from RM7.5 billion previously. FDI inflows were primarily channeled into oil & gas, manufacturing, and financial & insurance sectors. Portfolio Investment: Portfolio investment reverted to net outflow of RM5.0 billion from net inflow of RM25.3 billion previously. Meanwhile year-on-year, portfolio investment turned around to net outflow of RM5.0 billion from net inflow of RM48.0 billion in Q2 2011. On the contrary, for the period January – June 2012, portfolio investment registered lower net inflow of RM20.3 billion from RM56.5 billion, a decrease of RM36.1 billion. Reserve Assets The international reserves of Bank Negara Malaysia increased by RM12.7 billion in Q2 2012 as compared to a decrease of RM7.2 billion in Q1 2012, stood at RM428.8 billion as at end of June 2012. Third quarter of 2012 Current account: The current account balance recorded a lower surplus of RM9.5 billion for the period of July – September 2012, as compared to RM9.6 billion in the preceding quarter. This lower surplus was reflected in: Goods account: lower surplus RM25.5 billion Current transfers: the net payments widened to RM4.7 billion Meanwhile, income and services account recorded lower net payments of RM7.9 billion and RM3.4 billion Goods Account: In the quarter under review, the goods account registered a lower surplus of RM25.5 billion as compared to RM29.4 billion in the previous quarter. This was due to decrease in exports FOB by 1.8 per cent relative to increase in imports FOB by 0.5 per cent. Services Account: exports of services remained the same as previous quarter Income Account: the income receipts recorded RM11.4 billion increased by RM2.5 billion from RM9.0 billion in Q2 2012. Compensation of employees remained RM1.0 billion and investment income attained RM10.4 billion. The investment income comprises of: direct investment abroad (DIA): higher receipts of RM3.8 billion, mainly generated from financial & insurance, oil & gas, and information & communication sectors portfolio investment: higher receipts of RM1.3 billion other investment: higher receipts of RM5.4 billion However, income payments (debit) recorded RM19.4 billion decreased by RM1.3 billion from RM20.7 billion in Q2 2012. On net basis, the income account deficit reduced to RM7.9 billion from RM11.7 billion previously. This was primarily due to a lower net payments in investment income amounting to RM7.2 billion, while compensation of employees recorded higher net payments of RM0.7 billion. Current Transfers: In the third quarter 2012, both receipts and payments decreased to record RM1.4 billion and RM6.1 billion. On net basis, this account recorded higher net payments RM4.7 billion. Capital account: In Q3 2012, the net outflow decreased to RM42.0 million from RM67.0 million last quarter. This was due to lower outflow on both capital transfers and nonproduced nonfinancial assets which recorded RM24.0 million and RM18.0 million Financial account: In the current quarter, the financial account reverted to a net outflow of RM8.7 billion from net inflow of RM5.4 billion reported previously. This was due to a swing in both portfolio investment from net outflow of RM5.0 billion to net inflow of RM27.6 billion and other investment to net outflow of RM38.1 billion from net inflow of RM5.9 billion. On the contrary, direct investment recorded lower inflow RM1.9 billion from RM3.5 billion. Direct Investment: Direct investment posted a lower net inflow of RM1.9 billion from RM3.5 billion during previous quarter. Portfolio Investment: Portfolio investment recorded a net inflow of RM27.6 billion, turned around from net outflow of RM5.0 billion previously. Similarly, year-on-year, portfolio investment switched to net inflow from net outflow of RM28.0 billion in Q3 2011. Reserve Assets: The international reserves of Bank Negara Malaysia decreased RM7.5 billion in Q3 2012 as compared to an increase of RM12.7 billion in Q2 2012, stood at RM421.3 billion as at end of September 2012. Summary and Forecasting of Balance of Payment As you seen that, the balance of trade (export-import) both of goods and services continually decrease between third quarter of 2011 to third quarter of 2011. Especially, the last two quarter (Q2/2012 and Q3/2012). The major reasons are the Eurozone Crisis and Hamburger crisis in United State of America that provide a large impact to Malaysia in term of export of goods and services. In second quarter of 2012 it decrease 19.78 percent from the first quarter of 2012 and it also decrease 14.54 in the third quarter. For these reasons makes Malaysia’s export decline because the European countries and USA are the large market for Malaysian exporter. The financial account is very fluctuating between these five quarters. The causes are Eurozone crisis and Hamburger crisis same as above problems. The investors’ confident are decline. It make the direct investment decrease in the third quarter of 2012 and other investment was negative RM 38,083 million. On the other hand, a lot of investors move their portfolio to Malaysia for avoid the risk and uncertainty in Europe and USA. That makes the portfolio investment surplus RM 27,588 million. In the near future, the balance of payment of Malaysia will be continually decrease in term of balance of trade, current account and the financial account will be increasing. The central bank of Malaysia will cut the interest rate and use the fiscal deficit policy. This cause will make the Malaysia’s citizen has more income and more consumption. Next, Malaysia will import more goods and services to server their people due to the higher purchasing power. In term of financial account will be change in positive way. When the Malaysian government cut the interest rate, it will attract the foreign investors to invest and boost the economy. The portfolio investment will be also surplus because the problems in Europe and USA. So, the investors will avoid their risk by investing in Malaysia’s financial market. References : http://www.statistics.gov.my/portal/index.php?option=com_content&view=article&id=1324%3Aquarterly-balance-of-payments-performance-julyl-september-2011-updated-18112011&catid=103%3Amalaysia-balance-of-payments&Itemid=153&lang=en http://www.statistics.gov.my/portal/index.php?option=com_content&view=article&id=1413%3Abop&catid=103%3Amalaysia-balance-of-payments&Itemid=153&lang=en http://www.statistics.gov.my/portal/index.php?option=com_content&view=article&id=1586%3Abalance-of-payments-first-quarter-2012updated-23052012-&catid=103%3Amalaysia-balance-of-payments&Itemid=153&lang=en http://www.statistics.gov.my/portal/index.php?option=com_content&view=article&id=1700%3Aquarterly-balance-of-payments-performance-april-june-2012-updated-15082012&catid=103%3Amalaysia-balance-of-payments&Itemid=153&lang=en http://www.statistics.gov.my/portal/index.php?option=com_content&view=article&id=1797%3Aquarterly-balance-of-payments-third-quarter-2012-updated-16112012&catid=103%3Amalaysia-balance-of-payme nts&Itemid=153&lang=en http://www.tradingeconomics.com/malaysia/net-trade-in-goods-and-services-bop-us-dollar-wb-data.html