Journal Reflection Essay Example | Topics and Well Written Essays - 250 words

Journal Reflection - Essay Example Museums maximize on this because positive attitudes build inside their visitors the desire and value of returning again (Black 26). This is a plus for them because of the assurance of flow of incentives. A negative experience is when my English teacher chose me for a presentation during a symposium in our school which was attended by neighboring schools. I was a freshman and the ten minutes duration seemed very long. Fear engulfed me causing me to terribly shake in front of a huge and expectant crowd, despite I being a smart student. This happened because of lack of self-confidence and courage as I had never been exposed to such a large gathering. However, had I composed myself and risen above my fear, the presentation would have greatly been successful. From this, I learnt that public speech requires putting scripts in order and assuming eye contact with the crowd in front. It is good to record few points for a good flow of ideas during the presentation. Successful and failed academic experiences have taught me great opportunities students have that can spur them to greater heights. It is therefore important to be ready as a good student in the future since that can be my only chan ce for stepping into another

What Are the Key Skills that Lawyers Need to Develop Essay

What Are the Key Skills that Lawyers Need to Develop - Essay Example Holborn (2001) notes that it cannot be assumed that all employers look for exactly same aspects; nonetheless, aspiring lawyers have to exhibit certain visible skills to succeed as a barrister or solicitor and to work successfully in the competitive business world.     In recent times, there has been increased emphasis on the need for soft skills among legal profession, and the various legal firm has responded by introducing training courses and programmes to train their lawyers and partners in oft skills (Giusti, 2007).   Soft skills are basically defined as skills that impact the manner people interact with each other (Giusti, 2007). They include effective communication, interpersonal skills, leadership, team building and on an advanced level, career planning, project management and time management. Soft skills are normally contrasted to technical skills, where for lawyers these include, knowledge of the law, legal analysis, legal drafting and legal practice.   Whereas the business world has been using soft skills for a long time, the legal profession only realized the significance of soft skills recently. Soft skills are therefore important in legal field when interacting with current and potential clients, and in the firm when interacting with superiors, juniors and other employees (Giusti, 2007). The legal world seems to have realized that to succeed in his career and employment, a layer needs to understand and effectively use both soft skills and technical skills. It is against this background that lawyers have to learn and master soft skills.   

Analysis of Contract Types in Construction

Analysis of Contract Types in Construction It consists of the Guest Rooms, Restaurant, Swimming Pools, Dance Studios, Health and Fitness Centre, Conference and Meeting Rooms. On the other hand, Electricity Power Supply System, Electrical Low Voltage System, Fire Services System, Central Air-conditioning System, Plumbing Drainage System, Passenger Services Lifts with cargo lift services and Building structural finishing and furnishing were re-structured and re-designed respectively into three nos. of hotels. Cause of reconstruction As three nos. of the Cinnamon Grand hotels were found destroyed by the adverse weather and several storms in August 2012, the reconstruction work was required with consent of the Hotel Management Board. Background information Profile of Consultant firm We are a consultancy service company namely ES Architect Consultant Service Company Limited, which has been established in United Kingdom since 1976. Our business covers consultancy service, construction work, renovation work, facilities property management, leasing agency, interior design and various engineering etc. Our professional team involves competent person such as registered professional, structural and geotechnical engineer etc. Recently, we are appointed to manage the reconstruction work for a hotel called Cinnamon Hotel. Subsequently, we undertake to carry out the aforesaid reconstruction work according to requirement of the client as hotels landlord. Re-open business time of the hotels will be anticipated implemented from 1st March 2013 and completed on or before 1st April 2014. To facilitate and ensure that the potential guests could enjoy their journey in the hotels after the reconstruction work in phase 1, we propose divide the work into two phases. The Roofs, Guest rooms, Restaurant and Swimming pools will be scheduled in phase 1. The Dance studios, Health and Fitness centre, Conference and Meeting rooms will be scheduled in phase 2. In order to create the prestigious and retain heritage style with traditional England design in the hotel at the town, grand design is highly required. Details information of the concerned facilities is listed below; Background information Schedule of project in Phase 1 Three ply waterproof design for three nos. of the roofs per one block of the hotel will be proposed, its lifecycle will anticipate fifteen years to replace approximately and repair cost will anticipate fifty hundred pounds per year; Roman design for the whole block (include external wall), lobbies and twenty nos. of the general guest rooms, Rococo design for twenty nos. of the general guest rooms and traditional England design for ten nos. of the president suite rooms will be proposed. Total guest rooms nos. is fifty per one block of the hotels; Continental with open kitchen design and three teams local cook lead by a chef for three nos. of the restaurant per one block of the hotels will be proposed; Alfresco indoor swimming pool with spa, massage and steam services, which is provide the thermostat system for six nos. swimming pools per one block of the hotels will be proposed. Schedule of project in Phase 2 Diversity with musical system will be set-up in the dance studios per one block of the hotel will be proposed; Professional tutors will be arranged in the health and fitness centre per one block of the hotels will be proposed; High technology multimedia system and audio-visual with record system will be set-up in the conference and meeting rooms per one block of the hotels will be proposed. Objectives Clients Requirement In view of the above arrangement of reconstruction work for three nos. of the hotels, our client is concerned with the work commencement date and completion date, which must be regarded as the first priority because the peak travel season is coming soon. Therefore, the schedule of reconstruction work should cope with the demand in order to raise the competitive predominance in the same district. Also, other major concern is no in-house experience and insufficient staff to conduct the above reconstruction work in order to avoid any nuisance and contingency occurrence emerge in the phase one and two involve cost, time and quality control. To cope with the above potential risk avoidance, we would establish clear statement for scope of work, terms conditions and penalty for liquidated damage to potential contractors. Especially, we would strictly to supervise and monitoring the service provision after the phase one project to let the potential guests enjoy their journey in the hotels. Budget by Client The client has sufficient cash flow to disburse the above reconstruction work cost in approximately at  £ $120,000,000.00 (120 Million). Recommendation Type of contract After collecting and ponder the above information with more concern, we decide to propose Design and Build contract method to our client. This method can not only to solve the technical issue deficient from client but also to avoid any variation order incurred in the future (such as budget to limit). In addition, design, materials and method suggestion of three nos. of the hotels have special ways to handle, quote instance, engrave technique for beam of Roman design in the whole block, external wall, lobbies, guest rooms, spa, massage and steam tanks with room facilities which are need to high technology and special order to complete. Design and Build contract method is highly required. In order to enhance knowledge for advantage and disadvantage for the Design and Build to our client, details are listed as below:. Analysis Advantages and Disadvantages of type of contract Advantages of Design and Build: Deduction of the Costs, Time, and Mistakes These design and build contractors are specialists in appointing both design and construction experts and making the process much easier for the property owner. For example, there is no need to hire variety of the contractors to carry out all aspects of the building project and arrangements with other subcontractors; Individual responsible party it is efficient to avoid conflict and confuse any communication between the various parties involvement; Costs saving Under a responsible party, it is more efficient due to avoidable duplication of manpower and both the design and building processes in the same company, the information between the two coincides. That means the cost of reconstruction work will be well controlled within budget because there is less possibility of miscommunication when the same design contractor is managing the two phases. Since the company is aware of the whole budget limitation, she is able to quickly and accurately determine if particular changes would put the reconstruction work over budget. Time Saving The Design and Build process could eliminate other the competitive bidding process that often adds to the project completion time. Furthermore, if the design and construction portion occur at the same time, it would save lead time during the course of the reconstruction work; Improved Risk Management Every aspect of the project has been carefully developed through the collaboration of the contractor, designer, builder, and client. Each party involved is aware of what theyre responsible for and has coordinated their efforts with one another. The process becomes more efficient to reduce the amount of risk involved; Increased Quality Control On the one hand, under a responsible party for every steps of the process promotes the more cohesive approach to the remodel. One party orchestrating each aspect of the remodel assures that the standards are met throughout and the goal is more accurately communicated On the other hand, one of the significant reasons that the clients tend to prefer adopting of the Design and Build contractors because of their ability to handle everything in house. This is very appealing to clients because it means that no one will cut corners with quality of materials or labor. It is also very beneficial to have the same contractor work for the project from start to finish. Disadvantages of Design and Build: In the past, the design phase and the build phase were separated. Firstly, the building is designed by architects. Secondly, contractors analyze the architectural design and bid on the amount that it will cost to construct the project. Thirdly, once the bid amount is agreed upon, construction takes place. When the two phases are separated, it often leads to problems. It is not uncommon for the client to become unhappy when the design conflicts with what can be built. In order to eliminate this issue, you can now use design build contractors which integrate both the design and build phase together. Conclusion Construction project delivery is changing before our eyes. Design-build once known as only one of alternative project delivery may now be the most preferred method. 1 [G. William Quatman (2003) The Architects Guide to Design-Build Services]. After collecting the above information and the requirements from our client, the Design and Build contracting methodology for transportation projects represents a significant change in the way projects, which are managed and delivered by transportation agencies. An important aspect of the Design and Build contracting methodology is developing collaboration and the business relationship between the project engineering/architect and construction contractor. The interaction of the construction contractor with the designer working as a team represents a culture shift from the traditional design and construction project team work together to resolve project design and constructability issues to deliver a quality product in an efficient manner. There is need to perform quickly on the projects, as it is in emergency the owners put the teams together to get the work completion. The complicated problems are always solved the more efficiently and with optimal solutions through collaboration. Collaboration occurs throughout a Design and Build project, not only within the Design and Build / construction team, but also with the owners.

A Doll’s House by Henrik Ibsen Essay -- torvald, nora, christine

In Henrik Ibsen’s dramatic play A Doll’s House there are many characters that have grown to be adults that they either do not wish to be or that they are expected to be. The character breakdown as the play goes from act to act is apparent. From a woman struggling to be the perfect wife and mother to a husband trying to be perfect and surround himself with people that are likewise we see that it is much harder to put on a mask to be something you are not. Nora Helmer is a simple woman. She is the mother to young children as well as an adoring wife to her husband Torvald. Nora is described by her husband as a spendthrift, a little featherhead, and a skylark. (Delbanco & Cheuse) These terms are used in a fashion to say that she is flighty, a dainty woman who shops and flits about with no care in the world. Even her friend Christine Linde tells her that she is immature and childish to the realities of the world. This is actually not a fair statement of Nora. She has already put forth a strong attitude when Torvald was ill. She found a way to get the monies needed to ensure that he got well. She may not have gone about it the legal way but she went to whatever lengths needed to ensure that the man she loved could get well. This was a step outside of the expectations of her. She has always been there to do whatever a man expected of her. Her father expected her to be there to take care of him and the household. Her husband took her in h is home and expected the same of her. She was never able to form her own person as someone else was always there telling her who to be and how to be it. Nora wants to be taken seriously and to learn how to be strong for herself. She realizes that she has been able to get this loan and has been paying i... ...ectations they are not happy but just being. By the end of the play there is some hope for all of them. Works Cited Brunnemer, K. (2009). Sexuality in Henrik Ibsen's A Doll's House. Retrieved 11 23, 2013, from Bloom's Literary Reference Online: http://www.fofweb.com/activelink2.asp?ItemID=WE54&WID=97972&SID=5&iPin=BLTHS004&SingleRecord=True. Delbanco, N., & Cheuse, A. (n.d.). Literature Craft and Voice. In H. Ibsen, A Doll's House (pp. 1346-48). Haller, E. (n.d.). Bloom's Literature. Retrieved 11 23, 2013, from Facts on File: http://www.fofweb.com/activelink2.asp?ItemID=WE54&WID=97972&SID=5&iPin=ETL0595&SingleRecord=True. Metzger, S. (n.d.). An overview of A Doll's House. Retrieved 11 23, 2013, from Gale Literature Resource Center: http://go.galegroup.com/ps/i.do?id=GALE%7CH1420002305&v=2.1&u=txshracd2560&it=r&p=LitRC&sw=w&asid=2a621898dc6a06a303d9c6015c7e4bd0

E-Banking: Trend, Status, Challenges and Policy Issues

E-banking: Status, Trends, Challenges and Policy Implications 1. Introduction In addition to introduction (section I) and conclusion (section VI), the paper includes four sections. Section II addresses the definition and current situation of e-banking. Then, section III addresses the impact of e-banking on banking business. After that, section IV addresses the major application of e-banking. That is also the bottom line whether e-banking can be viable in a country. Section V addresses the new challenges e-banking has brought and policy implications from the perspectives of society, banks, and regulatory authority as well as government. . Status 2. 1. Definition †¢ The Internet includes all related web-enabling technologies and open telecommunication networks ranging from direct dial- up, the public World Wide Web, cable, and virtual private networks. (BIS-EBG, 2003) †¢ Internet banking (e-banking) is defined to include the provision of retail and small value banking product s and services through electronic channels as well as large value electronic payments and other wholesale banking services delivered electronically. (BIS-EBG, 2003) 1 2. 2. Fundamental characteristicsComparison between the current round financial innovation (e-banking) and past financial innovations The current innovation (ebanking) Content Delivery channel innovation-deliver banking business via internet. Impact Wider Past financial innovations Products and services, i. e. , delivery, swap Narrow 2. 3. Levels/Scope of e-banking business †¢ †¢ Basic information e-banking/web sites that just disseminate information on banking products and services offered to bank customers and the general public; Simple transactional e-banking /web sites that allow bank customers o submit applications for different services, make queries on their account balances, and submit instructions to the bank, but do no permit any account transfers; †¢ Advanced transactional e-banking/web sites that allow bank customers to electronically transfer funds to/from their accounts pay bills, and conduct other banking transaction online. †¢ Usually, e-banking refers to types II and III. 2. 4. Current development situations (in industrial countries) †¢ E-banking products and services are getting more and more advanced and increasing in variety.From providing information at the early stage to providing transactional activities. 2 †¢ †¢ Both volume and share in the total banking business are getting bigger and bigger very fast (Graph, Europe) E-banking customer base is getting bigger quickly. 2. 5. Status in developing countries Developing countries are in catching up in e-banking: †¢ †¢ †¢ †¢ †¢ †¢ The average e-banking penetration for developing countries by the end of 1999 was close to 5% (World Bank Survey, 2001). In Brazil, the number of e-banking users reached 8 million in 2000. In Mexico, the number of e-banking users reached 1. 5 million in 2000. In India, over 50 banks are offering online banking services. ICICI Bank’s e-banking is very impressing. E-banking in Korea, Thailand, Malaysia, and Singapore, Hong Kong and Taiwan (China) is thriving. In Ghana and some other African countries, smart cards based on Visa Horizon proximately technologies are getting started. 3. Prospects–Impact of E-banking on traditional banking 3. 1. The early conventional wisdom: †¢ †¢ Internet banking would destroy the traditional banking business model and promote the entry of newcomers from the outside of the banking industry.Developing countries could have the â€Å"opportunities to leapfrog† in the adoption of efinance on a large scale. 3. 2. In reality, e-banking develops fast, but not damaging as conventional wisdom projected. †¢ The notion of leapfrog has not worked in many developing countries due to various impediments. This can be verified by UNCTAD report. â€Å"Some positive si gns are 3 already visible, including a high level of acceptance of technology by customers and financial institutions†¦. H(h)owever, most projects have not yet been deployed on a large scale. † (UNCTAD 2002. It provides a comprehensive look at the status of efinance in developing countries.It covers arrange of areas related to e- finance including e-banking, e-payments, e-trades, and e-credit information). †¢ †¢ Even in industrial countries, e-banking is still a complementary tools to traditional banking. Lots of pure e-banking businesses have been forced out of market. Internet-only banks have been substantially less profitable. They generate lower business volumes and any savings generated by lower physical overheads appear to be offset by other types of non-interest expenditures, notably marketing to attract new customers. (De Young 2001). 3. 3.Prevailing vision †¢ The prevailing view today is that Internet banking can only succeed if it is thoroughly in tegrated within the existing banking infrastructure, which should combine â€Å"click† (e-banking) with â€Å"mortar† (physical branches) due to the importance of public trust in banks, the value of an established brand name, and the desire of customers to do something physically. †¢ According to this view, Internet is regarded simply as another distribution channel as a complement to physical braches, phone banking and ATM networks. The dominance of the so-called â€Å"click and mortar† model can be explained by its success on the ground.Two good examples are Wells Fargo in the US and Nordea in Scandinavia. 3. 4. Case-study–experience from the two most successful cases Two most successful examples: †¢ †¢ Wells Fargo (US), has actually the highest absolute number of online customers, more than 3 million out of its total 24 million customers in 2001. Nordea (Scandinavia), has 2. 3 million online customers, representing over 20% of its total customer base. It has the highest share of online customers. 4 They share the following common elements: †¢ †¢ †¢ †¢ †¢ Both are leaders in their traditional markets and thus can capitalize on a sizable customer base.Furthermore, their customer base is technologically sophisticated. California and Scandinavia have extremely high rates of Internet use. Both are technologically advanced and started early in Internet deployment. Wells Fargo started e-banking business as early as in 1989. Both have tightly integrated Internet in their operations and their existing infrastructure. Both have large number of SME customer base. 3. 5. Prospects Bottom line: the ability to mainstream SME and individuals into E-banking. 4. Trend: The major application of e-banking—SME finance E-banking is used more and more for improving access to finance.Financial constraints for SMEs have never been effectively solved and have been thought inevitable. This section will cover t he advantages of e-banking on this aspect. 4. 1. Obstacles to SME’s access to finance 4. 1. 1. from banks’ perspective †¢ †¢ †¢ High costs and low profitability of SME loans because of the small loan size. High risks of SME loans due to lack of business track record, credit history, and transparent information. Evaluating SME risk is â€Å"too labor- intensive† to be profitable. 5 †¢ Many banks lack strategies and skills to tackle impediments associated with SME finance.In many developing countries, the staff of banks lack necessary skills to appropriately assess credit risks of SMEs 4. 1. 2. from SME’s perspective †¢ Inappropriate products and services, which are rigidly supply-driven instead of demand-driven. Commercial bank products are usually designed to meet the needs of large corporations; few products and service are specifically tailored to the needs of SMEs. SME sector is usually underserved. †¢ †¢ †¢ High interest rates. SMEs usually require much smaller loans than large enterprises. banks, therefore, usually charge high margins to cover the costs. Cumbersome procedures.Over insistence on collaterals and guarantees. SMEs usually have low- level of fixed assets and relatively high- level of working capital. Therefore, when lending to an SME, a bank needs to assess the SME’s economic viability and future cash flows instead of collaterals. However, in many developing countries, banks are still in the very early stage of mastering sound lending policies and good credit practices. Their lending appears to simply rely on collateral rather than cash- flow projections. banks’ lack of capacity of non-collateral credit assessment has caused them unable to provide lending services to SMEs. Inflexible credit criteria—one size fits all. 4. 2. New Technology, New Hope for SME Finance 4. 2. 1. From bank’s side, new technology (e-banking) makes SME finance economically p ossible (i) lower operational costs of banks †¢ †¢ †¢ Automated process Accelerated credit decisions Lowered minimum loan size to be profitable (ii) potentially lower margins 6 †¢ †¢ †¢ †¢ †¢ †¢ Lower cost of entry Expanded financing reach Increased transparency (iii) expand reach through self-service Lower transaction cost Make some corporate services economically feasible for SMEs Make anytime access to accounts and loan information possible . 2. 2. From SMEs’ perspective E-banking business makes access to finance from banks attractive. SMEs have benefited from the development of E- finance and gradually stepped out of the informal sector. In particular, E- finance offers the following attractive benefits for SMEs: †¢ †¢ †¢ †¢ †¢ Ease of use Lower costs of financing Convenience Time savings Operational efficiency 4. 2. 3. From the government’s perspective New technologies have provided the incentiv es/benefits for the government to improve SME finance by †¢ †¢ †¢ †¢ Increasing employment. Contributing to poverty reduction. Contributing to economic development.Reducing the informal sector and cash economy1 . 1 Lack of SME’s access to FIs is one of the major reasons why there are usually big informal economic sector (cash economy) in many developing countries. Improved SME access to formal financial institutions is expected to reduce the informal economic sector. 7 5. Challenges and policy implications 5. 1. Cross-border e-banking activities and its policy implications 5. 1. 1. definition †¢ Definition: Cross-border e-banking is defined as the provision of transactional on- line banking products or service by a bank in one country to residents of another country. BIS, 2003) †¢ †¢ A note on the definition: A bank delivering its e-banking activities via its physical branches/ subsidiaries in a host country does count into cross-border e-ba nking. A further note: banks can use the new delivery channel (e-banking) reach customers in another country without as much reliance on physical presence and the significant investment that it entails (example). 5. 1. 2. Two scenarios †¢ †¢ The in-out scenario—In-country institutions providing banking services to customers outside the home country.The out- in scenario—institutions based outside the home country providing banking services to parties within the home country. 5. 1. 3. Raised many challenges and questions for banking regulatory authorities (both home and host) †¢ Who should take the supervision responsibility? Borderless nature of e-banking increase the potential for jurisdictional ambiguities with respect to the supervisory responsibilities of different national authorities. Such situations could lead to insufficient supervision of cross-border e-banking activities. †¢ †¢ Does it need to be licensed?Banks that engage in cross-bor der e-banking may face increased legal risk. Specifically, unless banks conduct adequate due diligence they run the risk of potential non-compliance with different national laws and regulations, including 8 applicable consumer protection laws, record-keeping and reporting requirements, privacy rules, AML rules. †¢ Non-banks may offer with greater facility bank- like services without any type of supervisory approval or oversight due to definitional ambiguities that may exist wit regard to what constitutes a bank (or banking services). †¢ †¢ †¢ Which country’s law applies to cross-border e-banking activities.Role and responsibilities of the home country banking supervisor and local supervisor. Supervisors need to recognize that the Internet allows for the provision of e-banking services that can span geographic borders and potentially call into question existing jurisdictional authorization requirements and the regulatory processes; †¢ Supervisors need to recognize the implications of taking a restrictive approach toward currently regulated banks without an even-handed treatment of foreign organizations that may conduct identical or nearly identical activities via the Internet in the local jurisdiction. Supervisors should ensure that banks appropriately manage the legal uncertainty during the period while the legal infrastructure for cross-border e-banking remains under construction. 5. 1. 4. Its policy implications †¢ Policy goal: The objective of both the host and home supervisors should be to avoid or minimize legal risks stemming from jurisdictional ambiguities, and to ensure that e-banking activities are adequately supervised with clearly defined supervisory responsibilities. †¢Basic principle: Focus attention on the need for effective home country supervision of cross-border e-banking activities on a consolidated basis as well as continued international cooperation between home and local banking supervisors regardi ng such activities given the possible absence of a physical banking presence in local jurisdiction. Such as focus is essential to promote safe and sound cross-border e- 9 banking without creating undue regulatory burden or impediments to banks’ use of the internet delivery channel to meet customer needs. Complementary principle : Home supervisors should provide host supervisors with clear information on how they oversee a bank’s e-banking activities on a consolidated level. Host supervisor would generally rely on the home supervisor to effectively carry out its supervisory program. Where there are concerns about the effectiveness of a home supervisor’s oversight program, the host would approach the home supervisor on a bilateral basis. The host supervisor will need to consider what actions may be appropriate to protect local residents and their banking system. Cooperation among national supervisors . Rapid pace of development of e-banking and the associated risk s will require supervisory agility, resources and, in the crossborder context, cooperation between home and host supervisors. 5. 2. From the society’s perspective 5. 2. 1. Challenges 1. Theft of personal identity 2. Privacy issues 3. Who take the responsibility in case of fraud 5. 2. 2. Policy implications 1. Essential are efforts to define the privacy framework and to use technology to solve contract enforcement problems. . 3. From bank’s perspectives 5. 3. 1. Risk management challenges †¢ Adaptation to Technology issues: The speed of change relating to technological and customer service innovation in e-banking is unprecedented. This intensifies challenges to the management to ensure that adequate strategic assessment, risk 10 analysis and securities reviews are conducted prior to implementing new e-banking applications. †¢ Outsourcing issue: E-banking increase banks’ ependence on information technology, thereby increasing the technical complexity of many operational and security issues and furthering a trend towards more partnerships, alliances and outsourcing arrangements with third parties, many of whom are unregulated. †¢ †¢ Increased legal and reputational risks E-security issue: The internet is ubiquitous and global by nature. It is an open network accessible from anywhere in the world by unknown parties, with routing of messages through unknown locations and via fast evolving wireless devices.Therefore, it raises significant challenges on security controls, customer authentication techniques, data protection, audit trail procedures, and customer privacy standards.  § While companies have been keen to embrace the potential offered by these technologies, few understand the inherent vulnerability and risks associated with e- finance. Since 1999, Brazil has seen a 418% increase in electronic security incidents; Korea has seen a 932% increase and Japan has seen over 1000% increase in malicious electronic security i ncidents (Tom Glaessner et al, 2003).  § Over 57% of all hack attacks in 2002 were initiated against the financial sector (Tom Glaessner et al, 2003). Identity Theft has exploded and incidents are expected to reach almost 2 million per year by 2005 wit a cost of almost US$10 billion. †¢ Outsourcing issue: E-banking increase banks’ dependence on information technology, thereby increasing the technical complexity of many operational and security issues and furthering a trend towards more partnerships, alliances and outsourcing arrangements with third parties, many of whom are unregulated. †¢ Increased legal and reputational risks 11 5. 3. 2. Policy implications/recommendations . Establish a comprehensive security control process. †¢ †¢ †¢ †¢ Authentication of e-banking customers Appropriate measures to ensure segregation of duties Establishment of clear audit trails for e-banking transactions Non-repudiation and accountability for e-banking trans actions 2. Centralized-back office to free staff time in sales and services areas and to consolidate process consistently across the organization. 3. Develop automated credit authorization system by developing appropriate credit scoring system and cash- flow scoring system to reduce operating costs, improve asset quality, and increase client profitability.One of the major benefits of credit scoring system is that lenders can make credit decisions without necessarily obtaining financial statement, credit reports, or other time-consuming and hard-to-get information. In particular, the financial statements of SMEs are often not complete and difficult to get. Banks can more closely align their specific credit policies and marketing strategies with the analytics, making the decision process more costefficient. (I. e. , Fair, Isaac has developed a credit scoring system specialized in SME finance—SBSS 5. (small business scoring services), which has been increasingly used by many ban ks as their SME credit decision making model. ) 4. Comprehensive due diligence and management oversight process for outsourcing relationships and other third-party dependencies. 5. Integrate cross-border e-banking risks into the bank’s overall risk management framework. 6. Legal and reputational risk management †¢ †¢ †¢ †¢ †¢ Appropriate disclosures for e-banking services Privacy of customer information Capacity, business continuity and contingency planning to ensure availability of e-banking systems and services Incident response planning.Segregation of duties 12 †¢ Due diligence on risk assessment 5. 4. From the authorities’ perspective (banking supervisor, central bank, related government depts. ) 5. 4. 1. Challenges from e-banking 1. Oversight of outsourcing and partnership arrangements, and the oversight of security and data integrity and controls and safeguards, especially when the supporting operations are located in another jurisdi ction . 2.The ability to adopt global technology to the local requirements: A adequate level of infrastructure and human capacity building are required before developing countries can adopt the global technology for their local requirements. 3. The ability to create the necessary level of regulatory and institutional frameworks: The lack of regulatory frameworks, trust, security and privacy standards, high trade barriers, customer and investor protections impede progress in many developing countries to implement e- finance projects. 4. E-security challenges 5. 4. 2.Policy implications/recommendations 1. †¢ †¢ †¢ †¢ Improve system infrastructure environment for e-banking business Strengthen payment system (including RTGS, bulk/low value payment system). Improve the settlement system (e. g. , for credit cards and other forms of electronic transactions). Build-up transaction reporting/reconciliation services. Establish credit information registry and disseminating s ystem. Credit information registries, commonly known as credit bureaus in many countries, can reduce the extent of asymmetric information by making a borrower’s credit history available to 3 potential lenders. Lenders armed with this data can avoid making loans to high risk customers, with poor repayment histories, defaults, or bankruptcies. Once a lender makes a loan, the borrower knows that their performance will be reported to the credit bureau. The information contained in a credit registry becomes part of the borrower’s â€Å"reputation collateral†; late payments or defaults reduce the value of this â€Å"collateral† providing an additional incentive for timely repayment. At the same time, by reducing the information monopoly that banks have over their existing borrowers,

Ethics Essay ­ “Miss Evers’ Boys” Essay

One unethical issue that I saw in the film was that the patients that were being used for the experiment were misinformed about their medical status. This is unethical because the patients were being lied to about something that ultimately affected their health and lives. A second unethical issue that I saw in the movie was that the medical service was not provided so as best to promote the participant’s interest. The service was provide to conduct an experiment to study the progression of Syphilis in African American men. The only reason patients consented to the experiment was because they thought that they had â€Å"bad blood† and were waiting for treatment. Thirdly, another unethical issue that I saw in the movie was that the information about the Syphilis treatment, Penicillin, was kept hidden from the patients. Even when Penicillin became the official treatment, patients never received it whether they were looking for it or not. The fourth unethical issue that I saw in the movie was that the nurse did not recognize that considerations relating to the well ­being of the individual participants in the research should have taken precedence of any interest of the doctors, science, or society.

A Literary Review Dealing with Nursing as a Profession Essays

A Literary Review Dealing with Nursing as a Profession Essays A Literary Review Dealing with Nursing as a Profession Paper A Literary Review Dealing with Nursing as a Profession Paper The purpose of this paper is to present a literary review dealing with nursing as a profession which pertains to health care. There are also five recent scholarly journals that have been specifically chosen, to complete a detailed annotated bibliography. Mullane, M. (2000). A Glance Back in time: future, higher education, and professional development. Nursing Forum, 35 (4), 41-45. Throughout this article the author presented information that demonstrated the concern of the future of nursing. She compares the past and present, stating that we are at a junction which is demanding a choice of direction in which way nursing may go. The direction of nursing is unknown especially concerning nursing education. The future of nursing depends upon many different things, it is affected by progress in health care and by it? s past. The scientific social forces that surround it today enforce it. This all rests upon nurses themselves and is shaped by administrators of our health services and by practicing physicians. The author feels that in the education field of nursing apprenticeship has advantage over other forms of education. She has acknowledged that the graduate is an expert in techniques, however by reinstating the apprenticeship system that was used in the past we will create a greater nurse. After reviewing the literature it is important to assess the level of expertise of the author. Mullane (2000), at the time of publication, had her RN, PhD, was Annotated Bibliography: 3 Dean of the College of Nursing at the University of Iowa in Iowa City. This journal was also one of many journal articles she has written. After completing the review of this research article I was able to determine the purpose of this article was to inform individuals that nursing is at a point where changes need to be made. With all the advancements we have we are able to make these changes to better the nursing profession. The author also suggests that we can return to the way things used to be, with more hands on. The article provides sufficient background information with specific dates and events. The intended audience of this paper was healthcare professionals, nurses, teachers, general public and colleagues. The author painted a picture of a nursing student who graduates out of University is an unprepared nurse not mentally but with hands-on tasks. The only sort of supplementary data this article offered was one other source from the Nursing Forum. Overall, this article is useful for nurses and healthcare professions who are interested in looking into the future of nursing. Annotated Bibliography: 4 Cardillo, D. (2001). Nursing, promote thyself: public relations, professional development and guidelines. Journal of Nursing Care Quality, 14 (2), 40-49. The author suggested that nurses have been working quietly in the background, with little recognition. Therefore, it is time for nurses to come through and self-promote. The author feels it is vital to the survival and the long-term success of the profession. The article suggests ways to promote yourself as a nurse such as: taking stock of your strengths and assets, become active in nursing associations, when winning an award make it known, attend work-related social events and volunteer on committees. In order to determine the credibility of the article the credentials of the author must be assessed. Cardillo had achieved her RN, BS, is president of Cardillo Associates Professional Development Seminars in Wall, N. J. , also a keynote speaker, author and consultant. I am extremely confident the author is capable due to her credentials and the amount of experience she has accumulated throughout her years of being a nurse. Throughout this article the fundamental purpose is self-promotion in health care and how to accomplish it. This article however, does not deal with a great deal of background information, and does not use any other sources. The scope of the article is towards nurses in general. All the points throughout the article Annotated Bibliography: 5 pertain to promoting themselves. The general usefulness of this work for other individuals who are researching this topic is not extremely important, because they are more self-promotion tips for nursing staff. Annotated Bibliography: 6 Wyatt, J. S. (2001). How do you spell nursing? With a capital ? C?! : Nurses and caregivers. Pediatric Nursing Journal, 27 (1), 103-109. Throughout this article the author explains how nurses have remained dedicated caregivers, however the complexity of caring has changed. She discusses how nurses can strengthen the valuable foundation of caring and make it a greater visible part of the nursing profession. The article states that since the world has exploded with new scientific discoveries, theories and technologies it over powers what health care is all about, caring. She acknowledges the shortage of nursing staff but for many nurses patient care has become a game of ? beat the clock?. They want to see how many procedures, how fast and how efficient. When you look at the task you completed you realize the main goal of patient caring is gone. In order to determine if the author is an expert on the topic her credentials must be discussed. Wyatt has her PhD, RN, CRP and has over thirty years of experience in nursing. Her clinical nursing experience includes practice in intensive care units, community health settings, and as a primary care nurse practitioner and nurse researcher. She also has over twenty years of experience in undergraduate and graduate nursing education and now serves as the Executive Director of the National Certification Board of Pediatric Nurse Practitioners and Nurses, she also holds the leading certification organization for pediatric nursing. Annotated Bibliography: 7 I believe that this authors credentials are extremely impressive making her an expert in the field of nursing and caring. The fundamental purpose of this article is to show nurses what nursing is really about, caring. I t allows nurses to take a step back from their job and realize that maybe they have not been treating patients the way they should be treating them. This article provides a great deal of backgrounds information. It includes many other articles pertaining to caring also providing statistics. The main audience of this article is nursing staff and caregivers. It is geared towards helping them increase there caring towards patients. The general usefulness of this article for an individual who is doing an essay on the selected topic is by reading the article it makes you realize how the profession has changed over the years. It shows what can be done about the mistakes that the healthcare individuals are making and what nursing is really about. Annotated Bibliography: 8 Mee, C. L. (2001). Magic Moments: Nursing Careers. American Journal of Nursing, 31 (8), 6-10. The author presented her ideas on nursing and why she chose to become a nurse. She states the important aspects of a nursing career and the benefits on becoming a nurse. She has many specific ideas on what a nursing career contains she mentioned such aspects as holding patients hands, talking with them, making them smile, being kind, intelligent, making the frail feel sick, having great strength and control. Most importantly being aware that you could contribute to someone else wanting to be a nurse. In order to determine the credibility of the article the author? s credentials have to be assessed. Mee has achieved her RN, BScN and PhD she has the experience of years of nursing and has written many other articles on different aspects of nursing. One aspect of this article that increased my confidence level in the information was the author provided examples of her own nursing beliefs, values and experiences however there were no statistics or charts which decreases the value of research. The purpose of this article is to inform nurses that everything you do, people are watching you and you could impact there future. The author also states her ideas of what a nurse should include. The main audience intended for this article is nurses and individuals entering the nursing field. The general usefulness Annotated Bibliography: 9 of this article for individuals researching Nursing as a Profession is it allows you to absorb what nursing involves and how important a career in nursing really is. Annotated Bibliography: 10 Castledine, G. (2001). Healthcare professions must work better as teams. British Journal of Nursing, 10 (14), 959-964. Throughout this article the author discusses the essential ingredients of an interprofessional team. The essential ingredients are a common purpose, distinct professional skills, and a process of communicating effectively with each other. If each team member represents his/her own profession? s expertise adequately, then all that is needed is a little teamwork. He clearly states that in the healthcare field working, as a team is an essential factor. The author? s credentials are vital to determine the credibility of the article. Castledine is a Professor and Consultant of General Nursing at the University of Central England. I am confident that this author can be classified as an expert on the topic of Nursing as a profession due to his involvement in Nursing. To further his credibility this article was published by a scholarly refereed journal. The main purpose of this article was to inform individuals in healthcare that teamwork is needed to get the job done, without it you create chaos. The main audience of this article is anyone in the healthcare profession or anyone in a profession where you have to work with other individuals. The usefulness of this article for individuals writing an essay on this concept is it shows you ways in which you can improve your teamwork skills, because without teamwork in a healthcare profession you might as well go into another profession. Annotated Bibliography: 11 Conclusion After completing this Annotated Bibliography it is evident that nurses have an extremely large role in the health care profession. Throughout all five articles there was a connection, showing that without certain skills such as caring and team work nursing is not what it can be. The five selected articles within the Annotated Bibliography have provided me with a great source of information on Nursing as a Profession, I now have background information that will be used in every day class work and upcoming tests and assignments. Annotated Bibliography: 12 References Cardillo, D. (2001). Nursing, promote thyself: public relations, professional development and guidelines. Journal of Nursing Care Quality, 14 (2), 40-49. Castledine, G. (2001). Healthcare professions must work better as teams. British Journal of Nursing, 10 (14), 959-964 Mee, C. L. (2001). Magic Moments: Nursing Careers. American Journal of Nursing, 31 (8), 6-10. Mullane, M. (2000). A Glance Back in time: future, higher education, and professional development. Nursing Forum, 35 (4), 41-45. Wyatt, J. S. (2001). How do you spell nursing? With a capital ? C?! : Nurses and caregivers. Pediatric Nursing Journal, 27 (1), 103-109.

Like a Cloud essays

Like a Cloud essays Like a cloud, the Wiraqochas, the white men demanding gold, invaded us After seizing our father Inca; After deceiving him, they put him to death. He with the heart of a puma, the adroitness of a fox, they killed as if he were a llama. Hail fell, lightening struck, the sun sank, night came. And in their terror, the elders and the people buried themselves alive. Author unknown. Although some believe that the Europeans had nothing to do with the downfall of the first nation people, I believe that the Europeans contact with the first nations was to their detriment because they stole from the first nations people, they destroyed the first nations peoples land, and they filled their villages with disease. First of all, the Europeans stole from the first nations people. They would come over to their land and take gold, and furs. They would trade alcohol for furs. Their theory behind this was to get the first nations people hooked on alcohol and get them drunk enough so they wouldnt realize what the Europeans were doing to their land and how many things they were taking. The Europeans were so rough that they would kill the first nation peoples that wouldnt give them the things they wanted. If they wanted someones watch, and he wouldnt give it to them, the Europeans would cut of the hand and soak it in boiling water until the watch would slide off easily. Even to this day, the Europeans are digging up old first nations burials looking for gold. I think that this is very disrespectful to the first nation peoples. Secondly, they destroyed the first nation peoples land. An example was when the Spanish came into the Incas land and destroyed it all in their pursuit to find gold and silver. Another example of how the Europeans wrecked the first nation peoples land was in 1971, in James Bay, the Europeans built a hydro electric steam building on Cree land. In Columbia the I...

Angela Merkel

Prill Challenges of Leadership Leadership Book Analysis Modern World Leaders- Angela Merkel The person chosen for this leadership report is Angela Merkel. I read â€Å"Modern World Leaders-Angela Merkel† written by Clifford W. Mills. Being born in Berlin, with my pride in being German, as well as being a female with my own leadership ambitions, I felt Angela Merkel was a perfect fit for me. Gaining knowledge on the leadership style from one of the most powerful and influential women in the world, while also learning the values and beliefs my country is grounded on, I find Angela Merkel to be extremely interesting leader to study. Angela Merkel (born Angela Dorothea Kasner), was born in Hamburg, Germany on July 17, 1954. Angela was raised in East Germany where she later received Associates degree in 1973. Shortly after, she enrolled to the Karl Marx University where she later met and married Ulrich Merkel. She graduates with a bachelor and continues onto her PhD in Science at the Central institute for Physical Chemistry of the Academy of Sciences in Berlin. By 1986 she received her PhD which is also the same year she goes back to West Germany for the first time since she was baby. It was the many years in West Germany, full of communism and hardships, that taught Merkel how strong and powerful government could be. Merkel was determined to use power to serve the people not use it to control them. Rather than telling them what they wanted hear, she told them what to do to solve the political problem. A scholarly physicist with little to no interest in politics rose to the top of the Christian Democratic Union (CDU) known as a conservative, male oriented, traditional political party. I believe the keys to her success include things such as her upbringing along with her passion and ambition. Raised by a minister in communist East Germany, Merkel had an upbringing like no other. A place where the economy was shattered- where resources and goods where lacking. Merkel and her family were always being watched upon by the Statsi. The Statsi was a security intelligence network that consisted of 100,000 full time employees with 300,000 informants recruited to spy on the citizens who might be subversive. Within this environment Merkel learned to keep her real thoughts to herself and keep her private and political world separate in fear of the Statsi. Ambition is an understatement. The fall of the Berlin Wall was the biggest eye opener and life changing event in Merkels life; going from someone who took no particular interest in politics to fighting for freedom and rights, almost over night. The day after Merkel was sworn in as chancellor Merkel wasted no time and made trips around the world meeting up with leaders in hopes to form alliances. Her first stop was Paris where she met with President Jacques Chirac where her goal was to emphasize the importance of their relationship. Next she met with security general Jaap de Hoop of the NATO. The NATO was a alliance between 26 countries where the attack on one country leads to the attack on all countries. Merkel knew how important this alliance was to Germany. Merkel returned home to meet the President of Pohomba of Namibia only to leave soon after to the United States to meet President Bush. Merkel was admired her never ending, ambitious, networking. â€Å"She put her loyalty to truth ahead of loyalty to the party†- Merkel’s put honesty and truth on the top of her values. When German chancellor Helmut Kohl admitted his guilt to receiving illegal claim contributions, Merkel was not scared to condemn Kohl in a public newsletter. Her mentor, the man who started Merkel in politics- in her eyes was now the man who betrayed a trust and should no longer be leader. Her honesty is the way Merkel got people to follow her as a leader. Although some felt she had stabbed Kohl in the back, many Germans praised her honesty. She had proven to the people that truth matters and that she stands behind it. Another time that Merkel wasn’t scared to stand her ground and simply standing up for what’s ethically right was back in high school. In Germany teachers quiet strict and at one point she had a teacher that would punish the entire class if a presentation differed even slightly from what the teacher told them to do. Deep down inside Merkel knew that the students put in extreme effort into the presentations and that this matter was so serious that the students could all be expelled from school. After explaining the situation to her parents, Merkel wrote a petition which she also presented to some GDR officials. Merkels class was saved; the teacher was later disciplined. I characterize her leadership style as one that is based on ethics and morals while also being very direct. She is both task oriented as well as relationship oriented. Merkel focuses on the business task at hand while putting great emphasis relationships and networking†¦ â€Å"I don’t think it make sense to go round and round in circles arguing about this crisis. We have to manage it instead. But that’s something we can only do together with our neighbors, our partners, the big ones and the small ones. I think Germany is destined, partly as a result of its geographic position, to be a mediator and balancing factor. † From this statement I feel as though Merkel is very direct and to the point- there is no point in arguing, let’s do something about it. At the same time Merkel puts emphasis on leader-member relations. Previous chancellor Schroeder was known for his extravagant sleigh rides with Russian President Putin along with an unwillingness to push Putin on difficult issues. Merkel wasn’t taking sleigh rides; she was making a dissimilar statement Based on her position Merkel has legitimate power and usually uses rational persuasion. She has the ability to influence others using something of value giving her reward power. Merkels degree in science gives her expert power and over the years has gained connection power through never ending networking and reciprocity. â€Å"I am, I think, courageous at the decisive moment. But I need a good deal of start-up time, and I try to take as much as possible into consideration beforehand. † Merkel puts a great deal of time studying an issue and pays close attention to detail when making a decision. When looking at a political issue, she looks at all sides and tries to understand it logically. Merkel does not go by â€Å"hunches† but finds out what others think (especially exerts). She studies an issue very carefully and does not make â€Å"right off the back† decisions. While some might of looked at it as inexperienced, Merkels courage stood out at the 2006 G8- Summit. The G8 Summit includes leaders from France, Canada, Germany, Italy, Japan, Russia, United Kingdom and the United States, that year taking place in Russia. One thing that was not â€Å"appropriate† during the G8 Summit was to criticize the host. Not only did Merkel question Russia on their electoral system claiming its shortcomings, she also vocalized that she did not want the natural gas from Russia to get disrupted again; she needed energy security for Europe to be assured and secured. Merkel had made headlines and made her mark. Merkel has not groomed a successor but is the successor of Gerhard Schroder. Schroeder was more of a Democrat while Merkel is a Republican. She is an anticommunist that wants there to be a bigger role for private business and less role of the government. Schroeder believed that the government had to be a regulator in businesses and that small changes to policy would bring Germanys level of competiveness up. Compared to her predecessor, Merkel felt government needed to get out of the way of business and that taxes should be simplified possibly with a flat rate. In order to decrease Germanys booming deficit, Schroeder cut social security payments an unemployment benefits. Merkel on the other hand found that increasing the VAT (value added tax) from 16%-18% was more successful. Another major difference between the two was their views on the war. While Schroeder was against the war, he allied himself with France and criticized the Bush administration. Merkel found the war to be dignified and correct- growing up in a country without freedom she knew exactly how precious it was. She explained Germany needed to stop bashing America and that her administration will have friendlier relations with America. A portrait of German princess born Sophie Augusta Fredrika, (later known as Russian empress Catherine the Great) hangs on the wall in Merkels office. Sophie married the 17-year-old grandson of Peter the Great and was crowned Catherine II. Catherine was the longest ruling and most renowned female leader of Russia. The Catherinian Era was sometimes referred to as the Golden Era as she extended Russian territory and reorganized law administration. Catherine led Russia into full participation in the cultural and political life of Europe. In September 2006 Merkel topped the â€Å"World’s Most Powerful Woman† list by Forbes Magazine. Analysts claim her strength was her â€Å"unassuming and tireless networking†. Leaders around the world such as Jacques Chirac, Tony Blair, and Vladimir Putin were all impressed by Merkel winning the admiration of people worldwide. Other awards received by Merkel include: * Vision for Europe award 2006 * Recognition of â€Å"Dama de Gran Croce Ordine al Merito della Repubblica Italian† by Italian president 2006 * Honorary doctorate from Hebrew University of Jerusalem 2007 * Chalemagne Prize 2008 * Grand Cross of the Order of Merit of the Federal Republic of Germany 2008 * Honorary doctorate from University of Technology in Wrolaw (Poland) 2008 * â€Å" â€Å" from University of Cluj-Napoca (Romania) Jawaharlal Nehra Award (India) 2009 * Forbes most powerful women 5 years in a row This assignment has enabled me to see leadership traits and values from the perspective of one of the most powerful and successful women in the World. A political record breaker, who has marked her spot in history by moving Germany out of the recession. I was aware that Angela Merkel was the Chancellor of Germany but I didn’t know what motivated her and the type of person she is and how she leads her country. Her motivation and drives comes from the democratic and controlled life she lived in East Germany giving her the determination of providing German citizens a less controlled, free, and happy life. She grounds her decisions on principal and logic and leads in a direct, assertive manner. Although Merkel dominates German politics I view her more as a leader than a politician. Leaders care about the people they serve while politicians usually care about themselves and their party. APA Style Citations Angela Merkel: The Most Powerful Woman In The World People Stylist Magazine. n. d. ). Stylist. co. uk homepage Stylist Magazine. Retrieved March 11, 2013, from http://www. stylist. co. uk/people/angela-merkel#image-rotator-1 Mills, C. (2008). Angela Merkel. New York: Chelsea House Reddy, V. (n. d. ). German Legend Angela Merkels Success story Posdcorb. Posdcorb. Retrieved March 12, 2013, from http://www. vamsinathmba. com/2012/08/german-lezand-angela-merkels-success. html Smitha, F. E. ( n. d. ). Catherine the Great, Russian Empress. MacroHistory : World History. Retrieved March 12, 2013, from http://www. fsmitha. com/h3/h31-gr6c. htm

Non-Conformity Essay Example | Topics and Well Written Essays - 750 words

Non-Conformity - Essay Example the people which conforms to certain predefined and subtle social control that directly correlates with the values and value system of the person and his environment. Thus, non conformity of human behavior and human interaction often provokes wide ranging ratifications for the society as a whole. The pros and con of non conformity can be described as follows. The non conformity can broadly be defined as behavior or actions that do not follow some predefined dictum of the society. The person displays unique characteristics and creativity in his or her actions that have significant impact on other people. The non conformist therefore, leads a life that is dramatically different and becomes a leader to a unique culture. While the normal human behavior tends to follow a rational approach, conforming to the wider welfare of the people, the non conformist is highly indigenous in his actions and thoughts and follows his instincts to blaze a new trail of innovation and path breaking ideas. Oprah Winfrey dared to follow her dreams and overcame adversities to show that a person can rise above the conformity of race and gender to become successful. Liberty of thought and actions are important part of non conformity. People who are non conformist like to experiment with radical ideas which could result in path breaking inventions or discoveries that could significantly impact human lives. Indeed, the development of society is based on the revolutionary ideas of the few which has significantly impacted the restructuring of social fabric in a more rationale manner. Mills has been very vocal on the issue of liberty of thought because he believed that it promotes the conception and inception of new ideas which are intrinsic part of development, which every society undergoes through the time. ‘No one can be a great thinker who does not recognize, that as a thinker it is his first duty to follow his intellect to whatever conclusions it may lead... we can expect no fresh start,

Design your process for becoming a world-class engineering student Essay

Design your process for becoming a world-class engineering student - Essay Example Admittedly, I am not yet that confident if I will realize my goal after graduating my course because I am still having challenges with my study. I have a clear understanding of what is engineering, computer science or engineering technology. I am also aware of its achievements and opportunities. I am not sure however of its future directions because it changes so fast that it is hard to predict. The world class student in engineering and computer science does not only have a clear understanding of the subject but also have an idea of the future directions of the industry due to their engagement in the subject. At present, there are still aspects of my study that needs to be improved. First, I need to improve my grades to make it impressive when I present them as qualification to my prospective employers after graduation. I will also develop my other non-academic qualifications such as joining extra-curricular activities that will develop my other skills such as leadership. I will also improve my study habit because it will carried on to my professional life as a work habit so I have to make it ideal while I am still studying. To work on these areas of improvement, I will instill a good study habit within me to avoid cramming and get good grades. This could be done by allocating an hour or two every day to review my lectures so that I am always prepared for class. If there are school and/or research works that needs to be done, I will do it in advance so that I will have ample time to do it and produce a quality research and/or school work. I will make quality school paper by dividing portions of it in advance and then research and write portions of it until it is done ahead of time allowing me an allowance to review it and do some corrections and improvement. I believe this how world class students in engineering and computer science do their school work. They do not just study because there is an exam but are always studying to be

A Situational Analysis on Marsha Warrens Case Essay

A Situational Analysis on Marsha Warrens Case - Essay Example In environmental control, the exercise of excessive disciplinary actions may sound sensible, but it can establish restrictive academic atmosphere, arresting learning at the expense of highly reactive students. Indicatively, in the case study of Marsha Warren, despite application of contingent teaching and management strategies, there are still manifestations of setbacks, not only on the part of the students, but also in the instructors’ classroom management. Although the students’ behavioral and learning problems are sources of class disruptions, the teachers’ personal attitude towards their academic functions may worsen the uncontrollable situations.  In environmental control, the exercise of excessive disciplinary actions may sound sensible, but it can establish restrictive academic atmosphere, arresting learning at the expense of highly reactive students. Indicatively, in the case study of Marsha Warren, despite application of contingent teaching and managem ent strategies, there are still manifestations of setbacks, not only on the part of the students, but also in the instructors’ classroom management. Although the students’ behavioral and learning problems are sources of class disruptions, the teachers’ personal attitude towards their academic functions may worsen the uncontrollable situations.   Dealing with difficult students in heterogeneous groups can be tasking to patience and efforts of every instructor. In the case of Warren, several dilemmas have piled up, instigating sparks of hostility in learning and social interaction. For one, the source of disruptive behavior has not been dealt with accordingly. With the narrowed focus on â€Å"bad behavior,† other important aspects of the disruptive problems have been neglectfully addressed (Goldstein, 2007, p. 4). The instructor in the paper keeps placing punishing consequences on the delinquent acts of the students, never reflecting on implication of con secutive reprimands on children’s social conditioning. Active interaction is severely hampered through this restrictive management form, reducing motivations on students’ learning desires.  In relation, while the lack of insight on how to classroom conflicts is rampant, abject competency in teaching and handling a classroom conflict is questioned.  

Economic Factors Assignment Example | Topics and Well Written Essays - 1000 words

Economic Factors - Assignment Example Industry A: 20 firms and a Concentration Ratio (CR) of 30% Name and some of the industry's characteristics An industry with 20 firms and a CR of 30% is called a low concentration industry. This is a type of industry in which its four largest firms control less than 50% of its market. According to Ruffinand Gregory (2000), this type of industry is monopolistically competitive and the market control gained by its four largest firms/industries is moderate. There are many firms producing a similar product. Prices are set through a contestable market model hence the decisions of one firm are not influenced by the decisions of another firm. The above is supported by the fact that in this industry, the key to success is the ability to offer products at a lower price (Weiss, 1989). Even of the sellers were few or even one, they would act as if they were many. Entry and exit from the industry is costless and new entrants are mainly attracted into the industry if a possession of market power i f profitable. The pressures of competition help to prevent monopoly and keep the industry operating at a prices and outputs that are competitive. Expected long-run adjustments in case there was an increased demand for a product that pushed up the price of goods When there is an increase in demand of a product that in turn leads to an increase in its price, all the 20 firms in the industry are going to make positive profits and prosper. In the short-run, marginal costs and marginal revenue will be equal indicating an equilibrium or profit maximization. In the long-run, firms will alter the scale of product and leave or enter the industry. Other firms who want to take advantage of the profit will enter the industry leading to a rise in supply of the product. This will push the market prices of the product down to the long-run equilibrium. What the anticipated adjustment process imply about the CR for the industry The above-mentioned anticipated adjustments imply that there is a relati onship between the CR of the industry and the properties of the industry. For example, when the CR is low as in this case, monopolistic competition takes place resulting to the market exhibiting elements of both monopoly and perfect competition. The reason behind this is that since the industry is monopolistically competitive, each of its existing firms has the power to set prices. They will compete for a control of the market share by lowering their prices and in the end, many of them will charge the long-equilibrium price. This establishes an equilibrium and eliminates incentives for entry. In other words, a low CR eliminates temporary rise in prices and restores the economy to a long-run equilibrium level, a characteristic of a competitive market. Therefore, it is true to say that the lower the CR, the higher the level of competition of the market. Industry B: 20 firms and a Concentration Ratio (CR) of 80% Name and some of the industry's characteristics An industry having 20 firm s and a CR of 80% is called a high concentration industry. 20 firms and a CR of 80% indicate a highly oligopolistic industry. In this type of industry, a significant level of market control is under the power of four of its largest firms (Ruffinand, 2000). The market is dominated by few firms who sell slightly differentiated

Economics of Labor Essay Example | Topics and Well Written Essays - 1750 words

Economics of Labor - Essay Example Strikes can also divide the workforce of a given organization into two factions thus reducing their ability to work as a team towards common organizational objectives. In the event that a strike is organized and some of the workers do not co-operate due to the fear of consequences that may follow, an enmity is created between these two groups of workers. The arising element of distrust will hinder future collective bargaining by the employees resulting in poorer working conditions. It is thus important to note that an effective management of a given organization or government department requires the development of good relations between all the stakeholders of an organization. The employees of the organizations need to have a union that advocates for theirs. The union acts as a link to the authority that ensures a formal procedure in addressing the issues. The employees should be loyal to the union and abide by its provisions. Besides, the management principles as defined in economic s require that the managers give room to the needs of the employees of the organization, and this is the key to effective management. The managers should address the issues as they are raised by the worker's unions to avoid the future negative reactions by the employees. On the other hand, the employees need to adopt the organizational cultures that require the formal solution of arising issues. The fact that all these fail to take place and a strike are witnessed means an irresponsible behavior by either the management or the employees.... The educators calling for a salary increase can simply decide to put pens and chalks down while going to the learning institutions as usual or they may intensify it and take to streets. The nurses in public hospital may decide to boycott their duty to attend to patience. Alternatively, an authoritarian manager of an organization can be forcefully evicted out of office by the angry employees. The effects of such strikes are adverse on the economic development of a given region (Addison & Teixeira, 2006, p.4). Common causes of strikes There are different factors that often lead to strikes by employees in a given organization. The strikes by the workers through the unions are geared towards streamlining the monopoly that might be exercised by the management of organizations. Achieving this requires a union made of leaders with the capability of managing teams and can deal with various emerging issues (Griffin & Stacey, 2005, p.29). One common cause of strike is poor working conditions a t the work places coupled with a lot of workload leading to job depression and stress. The employees often complain of long working hours and workload imposed on them probably due to understaffing. This is followed by a pressure from the management to meet strict deadline leading to job stress. Related to the poor working conditions is the cry for salary and wages that are proportional to the tasks that are carried out by the employees. This, however, takes different directions depending on who determines the wages of the employees (Addison & Teixeira, 2006, p.5). The employees often complain that despite the long working hours and the heavy workloads, they are not provided with remunerations

A Situational Analysis on Marsha Warrens Case Essay

A Situational Analysis on Marsha Warrens Case - Essay Example In environmental control, the exercise of excessive disciplinary actions may sound sensible, but it can establish restrictive academic atmosphere, arresting learning at the expense of highly reactive students. Indicatively, in the case study of Marsha Warren, despite application of contingent teaching and management strategies, there are still manifestations of setbacks, not only on the part of the students, but also in the instructors’ classroom management. Although the students’ behavioral and learning problems are sources of class disruptions, the teachers’ personal attitude towards their academic functions may worsen the uncontrollable situations.  In environmental control, the exercise of excessive disciplinary actions may sound sensible, but it can establish restrictive academic atmosphere, arresting learning at the expense of highly reactive students. Indicatively, in the case study of Marsha Warren, despite application of contingent teaching and managem ent strategies, there are still manifestations of setbacks, not only on the part of the students, but also in the instructors’ classroom management. Although the students’ behavioral and learning problems are sources of class disruptions, the teachers’ personal attitude towards their academic functions may worsen the uncontrollable situations.   Dealing with difficult students in heterogeneous groups can be tasking to patience and efforts of every instructor. In the case of Warren, several dilemmas have piled up, instigating sparks of hostility in learning and social interaction. For one, the source of disruptive behavior has not been dealt with accordingly. With the narrowed focus on â€Å"bad behavior,† other important aspects of the disruptive problems have been neglectfully addressed (Goldstein, 2007, p. 4). The instructor in the paper keeps placing punishing consequences on the delinquent acts of the students, never reflecting on implication of con secutive reprimands on children’s social conditioning. Active interaction is severely hampered through this restrictive management form, reducing motivations on students’ learning desires.  In relation, while the lack of insight on how to classroom conflicts is rampant, abject competency in teaching and handling a classroom conflict is questioned.  

Economics of Labor Essay Example | Topics and Well Written Essays - 1750 words

Economics of Labor - Essay Example Strikes can also divide the workforce of a given organization into two factions thus reducing their ability to work as a team towards common organizational objectives. In the event that a strike is organized and some of the workers do not co-operate due to the fear of consequences that may follow, an enmity is created between these two groups of workers. The arising element of distrust will hinder future collective bargaining by the employees resulting in poorer working conditions. It is thus important to note that an effective management of a given organization or government department requires the development of good relations between all the stakeholders of an organization. The employees of the organizations need to have a union that advocates for theirs. The union acts as a link to the authority that ensures a formal procedure in addressing the issues. The employees should be loyal to the union and abide by its provisions. Besides, the management principles as defined in economic s require that the managers give room to the needs of the employees of the organization, and this is the key to effective management. The managers should address the issues as they are raised by the worker's unions to avoid the future negative reactions by the employees. On the other hand, the employees need to adopt the organizational cultures that require the formal solution of arising issues. The fact that all these fail to take place and a strike are witnessed means an irresponsible behavior by either the management or the employees.... The educators calling for a salary increase can simply decide to put pens and chalks down while going to the learning institutions as usual or they may intensify it and take to streets. The nurses in public hospital may decide to boycott their duty to attend to patience. Alternatively, an authoritarian manager of an organization can be forcefully evicted out of office by the angry employees. The effects of such strikes are adverse on the economic development of a given region (Addison & Teixeira, 2006, p.4). Common causes of strikes There are different factors that often lead to strikes by employees in a given organization. The strikes by the workers through the unions are geared towards streamlining the monopoly that might be exercised by the management of organizations. Achieving this requires a union made of leaders with the capability of managing teams and can deal with various emerging issues (Griffin & Stacey, 2005, p.29). One common cause of strike is poor working conditions a t the work places coupled with a lot of workload leading to job depression and stress. The employees often complain of long working hours and workload imposed on them probably due to understaffing. This is followed by a pressure from the management to meet strict deadline leading to job stress. Related to the poor working conditions is the cry for salary and wages that are proportional to the tasks that are carried out by the employees. This, however, takes different directions depending on who determines the wages of the employees (Addison & Teixeira, 2006, p.5). The employees often complain that despite the long working hours and the heavy workloads, they are not provided with remunerations

Cyberbullying among teens and adolescents Essay Example for Free

Cyberbullying among teens and adolescents Essay Cyberbullying among Teens and Adolescences Cyberbullying is one of the major problems over the internet. This type of bullying involves technology and communication, such as the internet, social media, text, calls, and blogs. Cyberbullying happens when there is an imbalance among people over the internet, where someone purposefully says hurtful words to a next individual. People from the different race, age, class, and culture suffer from different types of cyberbullying through technology. According to Prince Edward, â€Å"Cyberbullying is being cruel to another person by sending or posting hurtful materials using the Internet or cell phone† (Prince Edward). Cyberbullying affects humans socially, emotionally, mentally and physically. Over the years cyberbullying have become more popular among teen and adolescence because their mental thinking is not fully developed and they act without thinking. The internet has become more available to the younger generation in different parts of the world. Trisha Prabhu mentions that â€Å"adolescents brain is like a car without brakes no stopping, no thinking, and no considering. She further mentions that adolescent brains develop from the back, which means that the front part of their brain is not fully developing until age 25† (Trisha Prabhu). The cortex is an important aspect of thinking and decision making, which is not fully developed in adolescence. This is the main reason some adolescence act without thinking because they are not mature to make decisions on their own. Cyberbullying is a big problem among adolescent and teens. They have become victims of social media violence, which causes depression and suicidal thinking among their peers. Bullying has been around for a very long time, even before the internet. I remember when I was in high school some returning students used to bully some of the freshman students by writing on their uniforms. Some of the statements were, â€Å"You are such a dick, worthless and you deserve to die.† This happened before I had internet access in my school. Robin Kowalski states that â€Å"As more people turn to the Internet for school, work, and social use, so too do more people turn to the Internet to take out their frustration and aggression† (Robin Kowalski). I think Robin Kowalski statement is too general because I believe that it is mostly teens and adolescents who â€Å"take out their frustration and aggression† on the internet, which leads to cyberbullying that push child to commit suici dal. According to Prince Edwards, â€Å"Increasing numbers of teens and pre-teens are becoming victims of this new form of violence. Although many different terms such as â€Å"cyberbullying†, â€Å"internet harassment†, and â€Å"internet bullying† has been used to describe this type of violence, â€Å"electronic aggression† is the term that most accurately captures all types of violence that occur electronically. Like traditional forms of youth violence, electronic aggression is associated with emotional distress and conduct problems at school. In fact, recent research by CDC suggests that youth who are victimized electronically are also very likely to also be victimized off-line† (Prince Edwards). Some teen and adolescence take part in cyberbullying because they believe it is a type of entertainment that gives them pleasure and satisfaction. Trisha Prabhu states, that Rebecca Sedwick an eleven years old girl from Florida received some mean words on social media, such as go kill yourself, you are so ugly, why are you still alive?† (Trisha Prabhu).   This shows how adolescents are evil and wicked to their own kind. These words could lead Rebecca to go kill herself because of what her peer think about her. Social media is just an addition extension towards bullying among adolescents, this is a new device that they can use locally and internationally to bully more persons in their social space. I totally agreed with Prince Edwards that technology should bring people together; instead, it is used to abuse each other; pushing peers out of their social network and pushing them into loneliness, embarrassment, fear or shame. (Prince Edwards). Social media have taken a different toll on teens and adolescents life in society. Sometimes people face bullying because they do not fit in the norm of their peer’s social space and their peers use that against them to push them out. As Alix Lambert mentions in her video, â€Å"it either you fit in or get out†, therefore it is a â€Å"culture of deformity† (Alix Lambert). It is great that Schobel created an app that allows students to anonymously report bullying, but how many children are brave enough to report the matter? Some of the students that face bullying, sometimes upload or share a goodbye video to the world or close friends. Works Cited An App That Let Kids Report Cyberbullies Anonymously. n.d. Don’t blame the bully, blame the system . Perf. Alix Lambert. 2014. Edward, Prince. Taking Stock of CYBERBULLYING Taking Stock of CYBERBULLYING (n.d.). Lattanner, Robin M. KowalskiGary W. GiumettiAmber N. SchroederMicah R. Bullying in the Digital Age: A Critical Review and Meta-Analysis of Cyberbullying Research Among Youth . (2014). Rethinking before you type. Perf. Trisha Prabhu. 2014.

The Recessions Effect On Consumer Behaviour Commerce Essay

The Recessions Effect On Consumer Behaviour Commerce Essay A recession is a negative decline in economic activity over a period of time. This is usually defined as a decline in Gross domestic product for two or more consecutive quarters. GDP is a measure of the countrys overall economic performance over a period of time. It is made up of consumption, investment, government spending, and exports minus imports. Consumer behaviour is the study that looks at all the reasons why people purchase products and where and when they purchase them. The credit crunch first started with the USA mortgage market and the collapse of the global housing bubble. Individuals were taking out mortgages that they could never afford to pay back. It all went wrong when the house prices in the USA started to fall. This in turn caused the value of securities connected to house prices to fall. The financial institutions all over the world were damaged. This put uncertainty regarding banks ability to pay its debts. The banks panicked and there was a rapid decline in credit availability. The investors confidence also declined and this had an impact on global stock markets. It was argued that investors did not accurately put a price on the risk involved with mortgage-related financial products. This causing the whole finance market to fail. The recession has caused banks to tighten credit availability. This has caused massive problems to secure credit for big ticket items such as cars and holidays. [1] The recession has had a major effect on many peoples consumer behaviour. There are many industries that have been hit by the recession. One important sector hit by the recession is the car industry and a knock on effect to companies that supply the car industry. Due to people finding it hard to secure finance they are unable to purchase new cars. So the sales of new cars have dramatically declined. An example of this is the Japanese car manufacturer Toyota. It has always been at the top of its game for many years. It has been producing exceptionally reliable cars and always at the cutting edge of technology. While in the recession the chief of Toyota Mr Katsuaki Watanabe produced the final annual figure which showed a loss of $4.4 billion. This was the companies first loss since 1950. This shows just how bad the car industry has been hit by the recession with many other firms in the industry achieving even bigger losses. [2] Another area that has been hit is the trade associated with the housing market. Due to problems with getting a mortgage people are unable to purchase new houses. So the development of new properties has fallen. Many house building companies such as Redrow and Barretts actually stopped building new houses on their sites when they realised they could not sell them. So all the labour associated were now unemployed. The Steel industry has also been hit hard. This is due to the car industry and house industry not needing the amount of steel they used to demand. With the recession affecting the whole economy the government has tired to use monetary policy to fix our situation. The government has tried to alter the supply of money by lowering the interest rate. But in doing this it has affected other sectors of the population. It will have a massive effect on people who rely on good returns from money they have invested. An example of this is the older population using their savings to give them an income to live on. At the moment the interest rate is at 0.5% compared to 4.5% in 2006. So the return they will receive on their investment has declined. The consequence of this is that their disposable income will fall causing them to purchase less. The government has also reduced Value added tax from 17.5% to 15%. This is a monetary policy that aims to increase the purchasing of consumers in the economy. The recession has also caused the exchange rate to fall against the pound. This means that the price of imports increase and price of exports de crease. This in turn has caused the import of raw materials for manufacturing to increase for many businesses. Due to the fact that the UK does not produce a lot of goods we rely heavily on imports. These now cost more than what they did before. This means that the consumer is getting less value for their money. The recession has had varied effects on different demographics within the economy. How people are affected depends on age, gender, occupation and location. The highest unemployed age appears to be the 18-24 category. This may be due to their lack of experience. A company would prefer to employ people who are skilled in doing their job. The older workers (45-64) will find it harder to obtain a new job if they are made unemployed. The current unemployment rate is at 7.8%. During a recession unemployment is a serious factor that affects consumers behaviour. Even if the individual consumer is not facing unemployment themselves they will still be affected psychologically. This is because other people around them such as family and friends may be affected. It will give them a thought that it may actually happen to them soon. It will affect their consumer confidence. With people having less consumer confidence they are more likely to save money rather than spend. So this makes the recession worse because it will reduce GDP more if consumers are not spending. Consumer behaviour is related to consumer motivation. Motivation is a basic concept in human behaviour. There is believed to be tension that arises as a result of unfulfilled needs that we have. The needs that are unfilled will move a consumer away from homeostasis balance. The Homeostasis See-Saw shows that a consumer needs a balance between Need satisfaction and Deprivation. The balance between these two is believed to be the homeostasis state. There are four drives that take us away from this equilibrium. Biogenic drives are such things as hunger and thirst that we automatically think we need. Psychogenic drives which drive us to achieve a certain status. These will depend on social and cultural environment that a person is used to. Cognitive motives are those that stimulate people to adapt to the environment and achieve a sense of meaning in society. Affective motives are associated with the need of obtaining emotional goals and the ability to achieve a satisfying feeling state. In a recession all these motives would be affected. Peoples purchasing pattern and ability to purchase certain products would follow a different pattern. In a recession when times are hard it could be potentially difficult to reach the homeostasis balance.[3] An impact the recession can have on consumer behaviour is the Lipstick Effect. When times are hard within an economy a consumer will stop spending money on big ticket items such as Expensive holidays or a new car. In order to achieve the feeling shopping brings consumers simply trade down to cheaper items to make them feel happy and content. The recent sales figures from cosmetic companies such as LOrà ©al and Revlon show that the lipstick effect is in operation within our economy at the moment. LOrà ©al showed sales growth of 5.3% in the first part of the year when the recession started. It shows that when consumers budgets are tightened that people just substitute larger luxury goods such as a new fur coat for small luxuries such as expensive makeup. [4] Some consumers in the recession are choosing to drop a brand level in their weekly shop. This means that rather than purchasing the brand products such as Heinz and Kelloggs they are choosing to purchase supermarkets own brands or no frills brands. It is said to save on average 33% on your weekly shop by dropping one brand level.[10] Brand loyalty has less effect in a recession due to consumers not being able to afford to be loyal if there is a cheaper close substitute. While in a recession there are many consumer behaviour trends that start to emerge. One example of this is Sellsuming. This is a trend where Consumers are very creative in selling products or services that they have to offer. With need to generate extra income consumers become inclined to sell things they dont need or want anymore. An example of this is the use of eBay the online auction site to sell unwanted products. Some consumers may even go as far as renting out parking spaces. Another trend is the Increase of  online services and social media usage. With the unemployment rate increasing and jobs not being very secure, people spend more time looking for job advertisements on the internet. Consumers are also being sensible when they are shopping. The consumer is continuously looking for very good deals both online and offline. Consumers are looking for the best price and the best value available to them. Internet shopping has become the best channel for a consumer to achieve this with price comparison websites such as kelkoo.com and comparethemarket.com. Kelkoo is a shopping portal that compares many retailers and shows the best place to purchase a product depending on the cheapest prices found. Another trend in a recession is skills enhancement and  training. When people feel unsure about the future they believe that increasing their knowledge and skills is a good way to keep in them employable. The younger generation are also not entering the jobs market and choosing to increase their prospects for the future. Examples of this are the figures that show almost an 8% increase in applications for full-time study at universities in 2009. This is the biggest growth in eight years. The recession and rising unemployment have been blamed for this substantial increase.[6] While the economy has been in recession there has been an increase in the number of people searching dating agencies. According to the New York Times Online and offline matchmakers are reporting that dating interest is up, way up. Match.com, for instance, had its strongest fourth quarter in the last seven years. There may be a few reasons for this increase. People may now have more time on their hands due to being unemployed. Also meeting a potential partner on the internet is easier and more affordable than socialising in other ways such as going to the pub. A major trend of consumer behaviour in a recession is Escapism. Consumers are said to be spending money on products and services in order to distract themselves from the economic hardship. The entertainment industry should in theory be experiencing an increase in attendance. This would be such services as bowling and cinema. The figures show that in 2009 cinemas are up 13% year on year. Fast Furious tore up the record for the most lucrative opening weekend for a movie released in April 2009.[7] But this can also be seen in related companies such as the American-based chain of DVD and video game rental company Blockbuster. Their sales have increased over the recession with people choosing to rent. This may be due to the reduction in layout cost of actually purchasing the DVD yourself. It could also be another form of entertainment for people. Another business that is doing very well in the recession due to a change of customers behaviour is Dominos pizza. They are benefiting from con sumers trading down on their choice. A consumer who would have usually gone out for a meal now stays in and purchases a dominos pizza. [8] Consumers in recession also tend to talk more about their purchases and experiences. The OTO Research confirms 54% of consumers say that their primary source of information when choosing a brand is the Consumer Generated Content about the product and brand experience. Due to people being careful with their money they want to make a good purchase that will satisfy their needs. In a recession people will be more likely to tell their family and friends about good deals. This is compared to in a boom consumers tend to boast how expensive a product they purchased was. Consumers are also taking out more insurance policies during the recession. It appears that the desire to protect property becomes a high priority in a recession. This may be due to the fact that people are worried about replacement or repair costs if something does go wrong.[9] People are more likely to repair items if they break when the economies in recession. Such businesses as cobblers are seeing more and more people bringing in worn shoes. Before the recession consumers would of thrown them in the bin and purchased a new pair [12]. In order to try and reduce the effects of the recession the government introduced a scrappage scheme. It aims to increase the purchase of new cars. The consumer is offered a  £2000 incentive if they have a car that is over 10 years old and are willing to scrap it. The government has also tried to increase the money in the economy by offering lower vat of 15%. This is not really much of an incentive unless you are purchasing big ticket items. They have also dropped interest rates down to 0.5%. This provides people with mortgages lower repayments. This gives them more disposable income which they could potentially spend in the economy. In the recession not all companies are being affected. Some companies are actually doing better than they did before. Examples of people doing well in the recession are supermarkets, Amazon, dominos, cinemas, pawnbrokers. The best strategy to follow in a recession is cost leadership. By keeping your costs to a minimum you can maximise profit and be competitive. The best way to get consumers to purchase your products is by giving them an irrefutable offer. During a recession companies should try to increase positive motivation in a consumer. You can do this with a good use of advertising. If a consumer has increased positive motivation they are more likely to want to purchase your products. Overall it is important to realise that consumer behaviour and the recession are linked and have an effect on each other. But the effects will depend on the industry, products and the people it involves. Businesses need to be proactive in a recession in order to be successful. They must be able to change their strategy quickly and efficiently. 1 His journal 2 Ian Rowley (May 8th, 2009) Toyotas Loss Is Worse Than Expected, Available at http://www.businessweek.com/globalbiz/content/may2009/gb2009058_991777.htm , [Accessed 16th December 2009]. 3 book- SEE SAW 4 Larry Elliot (December 22nd 2008) Into the red: lipstick effect reveals the true face of the recession,http://www.guardian.co.uk/business/2008/dec/22/recession-cosmetics-lipstick , [Accessed 16th December 2009]. 5 Yulia V Smirnova (June 16th 2009) Top 10 Emerging Consumer Behavior Trends in Recession, http://www.memesponge.com/2009/06/top-10-emerging-consumer-behavior-trends-in-recession/, [Accessed 21st December 2009]. 6 Nicola Woolcock (February 16th 2009) University applications rise by 8% as recession bites,http://www.timesonline.co.uk/tol/news/uk/education/article5741496.ece, [Accessed 21st December 2009]. 7 Alain Portmann (April 16th 2009) Consumer Behavior During the Recession, http://webliquidgroup.com/knowledge/consumer-behaviour-during-the-recession-four-key-consumer-trends/, [Accessed 29th December 2009]. 8 Chris Moore (17 February 2009) Recession hots it up for Dominos Pizza, http://www.thisismoney.co.uk/markets/article.html?in_article_id=476450HYPERLINK http://www.thisismoney.co.uk/markets/article.html?in_article_id=476450in_page_id=3HYPERLINK http://www.thisismoney.co.uk/markets/article.html?in_article_id=476450in_page_id=3in_page_id=3, [Accessed 29th December 2009]. 9 Nick Elliman (September 1 2009) Consumer behaviour in the recession, http://www.allbusiness.com/marketing-advertising/marketing-advertising-measures/13183075-1.html, [Accessed 29th December 2009]. 10 Martin Lewis (January 2 2010) Supermarket Shopping Downshift more, halve weekly bills, http://www.moneysavingexpert.com/shopping/cheap-supermarket-shopping, [Accessed 2nd January 2010]. 11 CBI (June 2009) Employment trends 2009 Work patterns in the recession,http://www.cbi.org.uk/ndbs/press.nsf/38e2a44440c22db6802567300067301b/56ebefb25149a68b802575da00308471/$FILE/CBI%20-%20Harvey%20Nash.%20Work%20Patterns%20in%20the%20Recession.%20June%202009.pdf, [Accessed 2nd January 2010]. 12 Sunday Times (November 23, 2008) Riding the recession: how some businesses are doing well in the downturn, http://business.timesonline.co.uk/tol/business/industry_sectors/article5213280.ece, [Accessed 2nd January 2010]. 13 Charlie Makin (December 23, 2009) 10 key pointers of consumer behaviour in a recession revealed http://www.themarketingblog.co.uk/e_article001261803.cfm?x=b11,0,w , [Accessed 2nd January 2010]. 14 Philip Atkinson (2009) Customers Consumer Behaviour in 2009 http://www.philipatkinson.com/change-customer-consumer-behaviour-millennial.htm, [Accessed 2nd January 2010]. 15 16