A approach towards hotels

Risks in relation to Opportunities, measurement of decisions Appendix 10. 5: 24 Probability of risk occurrence Appendix 10. 6: Provisions of outcomes incorporating and eliminating the influences of controllers 25 Appendix 10. 7: 26 Influence of a risk in relation to costs Appendix 10. 8: 27 Checklist for evaluating risks 2 1. 0 The risks are now attached powers related with the lifespan of hotel ‘s projects or activities in the specific region, combining unreliable nature of vague commodities, quickly changing market, advances in technology, and the revolution of the customer' s requirements.Hotel ‘s projects usually consume large capital investments to achieve profitability and momentum within the market, but perhaps associated unpredictable risks generate restrictions or even a substantial loss of investment. Consequently, risk management is applied uninterruptedly through the life cycle of the hotel ‘s project to reduce or minimalism the undesirable effects of ri sks from the project' s schedules, costs and performances, in order to ensure achievement of economic goals.This report is initiated to analytically examine the procedures of risk management regarding the hotel industry. Initially, this report ascribes theoretical context of risk management and of its perception and significance within the industry of hotels. In addition, this report analyses and reviews risk a managing procedure, including risk identification then the analysis and controlling of risk, to finalize with risk reporting. The report investigates how risk potential dangers and facilitates the project's procedure regarding decision-making (Kite & Eluding,1997, p. ). This report also shows how risk management sequences benefits the assignment ‘s responsible to evaluate if they acquire satisfactory possessions for the project to manage the risk connected with high existence possibility and significance that not all risks are of equal weight. Furthermore, risks may be various and theoretical; consequently the report will establish the significance of finding parts and mutual risks methods, which are advantageous to aware the management of the hotel from dangerous risks.Additionally, the report shows the value of the statistical normal distribution, and the likelihood of risks within the project management of hotels, including a strategy of efficient warning methods and emergency forecasting in order to monitor future risks. This report continue explaining in what way risk reporting would be efficient in delivering the results of the conducted analysis and control of risks so the hotel ‘s project to accelerate investing conclusions.Yet, this report shows important debates concluded through a concise summary of the risk management progression and its values within the hotel industry. Additionally, references, and appendices serve an as extra resource that highlights key philosophies in this report. 1. 1 Aim & Objectives This report main aim i s to analyses the procedures of risk management and how it effects project management within the industry of hotels. Goals: To diagnostically examine the academic frame of risk management in relation to project management within the industry of hotels. 2.To identify the settings of risk management and its effects on hotel ‘s project. 3. To investigate the procedures of risk management within the hotel industry. 4. To discover the significance of managing risk in project management within the industry of hotels. To analyses the risk management procedures and its effect towards hotel ‘s approach of managing risks within projects. In accordance to Serener, (2006, p. 1 1), risk management is defined as an organized function procedure useful in a methodological approach in order to cope imaginable risks offered to a company.Moreover, Mills, (2001), argues that risk management if systematic, is a crucial tool for company's in order to control and obtain the possible occurring risks, which could simplify the process of dealing with the actual risk. Moreover, the risk management procedure where the team monitoring is accountable for couple of areas of responsibility: recognizing, evaluating, forecasting, tracing, controlling and communicating (NASA NIPPERS. A 2004 p, 5).The usefulness of risk management provides hotel management to a opportunity to reduce the risk through using the systematic approach for better a better adaptable response to risks, and eliminating the accomplishment of strategic objective and profits (Rival & Fuchsia, 2007, p. 4). Noticed by Mills, (2001) that risk management don't only emphasizes on classifying the risks after a ranking system, it also monitors and administers risks to be able to decrease imaginable damages to the business ‘s entity.However, Serener (2006) claims that the purpose of risk management is not to serially eliminate risks, therefore, focusing on the risks that are involved in the furthermost effective me thod or reactive actions. Further down the line of a project, the possible risks could drive the project or organization to unnecessary expenditure, fiasco, or liquidation (appendix 10. 1). According to Scott, (1997) there is a significance importance to include the process of risk management within the decision-making procedure by hotel ‘s leaders, in order to reduce the negative impacts of risks such as efficiency, implementation and budget problems.Within the hotel association, inconsistency concerning established objectives and actual implementations is created due risks being very stretched to projects (Kindlier, 2009). To continue, there are very high cash investments within properties and assets belonging to hotels, which triggers a bigger risk if the particular hotel fails to produce profit and inevitably lose investor's investment.In addition, prompt alterations and high manipulations origins greater risks to hotel ‘s developments, impacting the day-to-day proce dures and generating insecurity in decision-making (Serener, 2006). So, through arranging risk management at the entree, hotels can certify adaptive reactions to risks in a well-timed method; evade upcoming damages, enabling supervisors to create a contingency plan to response towards risks, and seizing hypothetical opportunities (Kindlier, 2009).Enterprise Risk Management (ERM) – Project Risk Management Enterprise Risk Management shortened term ERM, is perceived as a procedure, stimulated via an independent panel of managers, executives, and other employees, which is combined with tactical instructions throughout the business, to be able to pinpoint probable impacts measured to be forceful to the independence (Rival & Fuchsia 2007, p. ). Kindlier (2009, p. 323) argues that ERM embraces all the management of assignments, agendas and collect the concepts of risk management within a structure.In order to seize business development and reduce dangers the ERM could be focused tow ards the safety and security department of a hotel. In addition, ERM is appreciated within project risk management in order to compute and manage risks with great safety, henceforth focusing the practice of capitals. Further, discussed by Stuntman et al. , (2011, p. 336) PRM ‘s function as a procedure, which monitors all actions in order to guarantee a positive result from investments.Moreover, when a new project is offered to a hotel, PRM is highly useful in order to evaluate the foundation of the dangers, the comprehensiveness of risks, and hypothetical results designated from risks. Nonetheless, hotel ‘s plans are indistinguishable to stint of time regulating, highlighting the introduction of latest commodities or assistances towards the market, nonetheless limited by limits and certain objectives according to Groove (1997).Therefore, it is essential to apply PRM uninterruptedly during the project lifespan to successfully moderate risks and achieve project's objective s in relation to he strategic schedule, financial plan, and implementations (Stuntman et al. , 2011). The risk management process is alienated in four different boxes; it starts by identifying the actual risk thereafter follow an analysis and control of the risks and management process in order to safeguard stability between the profits versus the costs within operations (Kline & Eluding, 1997, p. ). Continuously, another elaborated definition discussed by Groove (1997) the risk management procedure is one-chain rotation, due to each step commences in a systematic approach to be able to execute risk management efficiently. Moreover, Kindlier (2009) emphasizes the importance of utilizing the risk management process, managers and supervisors would gain a holistic overview of the entire activities, reduce the uncertainty and making the hotel project reliable and profitable.In addition, the process is valuable in order to clarify if the projects are feasible or problematic. Chapman & Wa rd, (2010) introduces the first step of the risk management procedure, first step: risk identification, a procedure where potential and actual risks facing the hotel, gets revealed and diagnosed. Risk identification tributes to instructing the reject supervisors of related obstacles or risk being a factor where the achievement of goals develops the base for risk analysis and control.Second step is called a risk analysis, where a process takes place of analyzing various risks by the usage of specific techniques such as statistics. This step is also recognized as the â€Å"action† step, to conduct an analysis against the risks, which has been identified in the previous step. Furthermore, follows risk control, by endeavoring to manage the risks for modifying damaging influences and defending productivity. Last step in the risk management process, risk reporting explained by Kline & Eluding (1997), either written or oral communication of the findings from the conducted.Hotels are affected when impacted by the occurring fluctuations that are uncontrolled, such as the financial state or advantages of competitors, which are usually invisible at the early phases of the hotel plans (Stuntman, et al. , 2011, IPPP). It is further argued by Scott (1997) in order to receive high returns on invested capital, hotels should apply the process of risk management in order to systematically diminish the negative influence of risks.Continuously, the process is also beneficial regarding the assistance provided to hoteliers in order to increase the certainty of the project's future, which leads to overall better confidence in the decision-making process regarding anything related to the project from cost efficiency plans or contingency plans versus possible upcoming risks. 8 diagnoses possible impacts of the company that could trigger the risks both internally and externally.Risk identification is the first step before the risks gets analyses and purposed, thereafter becoming the foundation of the next steps in the recess; analyzing and controlling risks (Scott,1997). According to Keen, (2011) the most problematic and difficult step in the process is the risk identification, because it outcomes of strangeness or vagueness of forthcoming occurrences. However, identifying risks allows managers to distinguish the partnership between the causes and consequences of events, thus enabling the strategy of the stronger risk image, protective plan, and increase self-confidence in decision-making.If the management of the hotel disappoints in identifying any upcoming potential risks in the projects or operations, then unfortunately the non-identified risks will become hard to manage and cultivate to be devastating (Tchaikovsky, 2002). Additionally, the stage of risk identifications includes a complete analysis of the settings both internally and externally in order to interpret nature, and measure influences from risks (Meredith & Mantel 2012).Furthermore, Groove, (1997) argues that by recognizing foundations and influences of risks, for instance operational or market risks towards the projects of the hotel, the management could therefore categorize these risks if they are manageable or uncontainable. Nevertheless, even if risks are identified as uncontainable such as inconsistent seasonal demands, the management within hotels could still plan and work out a protective plan for producing short-term demands in order to change the undesirable outcomes (Ammonia. , 2008, p. 1 1).In addition, when risk management process is implemented, the procedure should be on-going and not perceived as one-off activity, as new risks are constantly occurring regarding the changes occurring within the micro and macro environment said by Tchaikovsky (2002). 4. 1 Identification of the major significant participants – Steadying groundwork, lassoing pieces – communal risks When identifying the foundation and stabilizing it, hotel's directors must have a look at the entire party of personnel carrying this project out instead of Just concentrating on the information (appendix 10. ). The managers must identify and know they key people, in other words are the very important participants, who in turn will give the vital information for the risk performance identification and enquiry steps. Furthermore, in order to stabilize the groundwork, manager or directors have to gain every part of necessary and significant data in a certain period of time. Such as the different and various sources of risks and influence areas to have a performance on the risk study efficiently and effectively (Scott 1997).However, by the conversion of information into different distinct pieces, managers should know and recognize the different risk components in the hotel's plans and the corresponding relationship in each component, which is why planning specific goals can become easier in specific risk. Additionally, when identifying and ordering distinct compon ents and pieces, there are two available approaches; it is either doing it independently or with a group (Serener, 2006). Identifying individually is considered as efficient when considering time, but can lead to limitations, narrow perceptions or own biases by ignoring the hotel's atmosphere.Uncooperative, Stuntman et al. , (2011) have argued by the identification of risks in a group, an additional stable and serious identifications can be accomplished, but, the period could take longer, costly, and very difficult for adding various information into one piece. Meanwhile, it has to be recognized that the human error, results and occurs of them who see the event on occasion basis can produce bias in recognizing risk Keen, 2011). Moreover, mutual risks have to be found and identified for its great level of danger challenging the projects.Through common risks recognition, the project managers can focus efforts on risk with great impact, because not all the risks are the same and they a ll require different attention and treatment (Pritchard, 2010). Nevertheless, the 10 mutual risks differ as the project proceeds, because the consequence of the risks may reduce; yet others become dominance. For example, in the lodging industry, the hesitation of the market fluctuations, economic rejections, and as well inflation may to show at the beginning of the hotel's projects.Thus, forming inconsistency among the plans and the authentic upcoming implementations argued by Haze &Kouki (2009, p 262). Analysis of risk occurs when managers' converts information gathered throughout the identification process when handling risks like rational knowledge by operating designated methods (Kline & Eluding 1997, p. 59). Risk analysis is also related to activities of examining assignments or functions to observe dangerous areas including risks in a methodical method, which might relieve risk control procedures Pritchard, 2010).Hotels could be quicker adaptable and better responsive to perce ivable occurrences, which comprehends chances and disorders (appendix 10. 4) by using risk analysis. Keel & Eluding, (1997, p. 8) states two types of risks analysis, one being quantitative and the other qualitative. Still, statistic plays a important role when risks is being analyses, in order to explain outcomes by taking a look at the frequency scattering using authentic numbers or calculations, to be able to compute data. Frequency scattering is utilized in risk analysis to review big volumes of

Dark Lord Essay

Lightning struck the tower pinnacle, and briefy the city’s main square was drenched in light. A violent storm was brewing around the city of Magelan, of the world of Ralon on the choas planes. All around the city the guard, dressed in mail of shadowy black, were attempting in vain to surpress the riots that where in place. People had taken the oncoming storm as a sign from the gods, to rise up and overthrow the evil Maraj who ruled their city. † The foolish mortals have taken our bait, their city is in choas my Dark Lord Iekkob† The bodyless voice echoed around the dim moon-lit entrance chamber of the great palace. Suddenly, with a blaze of flame and inpenitrible black smoke, a figure appeared. Slowly becoming less hazy the figure walked towards the base of the stairs, leaving scorched foot prints in the shining marble floor. As the the figure reached the thresh-hold of the crystal staircase, one of the statues that lined walls lazily walked towards him. The statued man was no longer a granite grey but shrowded in black and dark crimson robes. † My Lord Iekkob † The voice sounded again, but it was no longer bodyless. The statued man spoke it, softly, stealthily, yet clearly. † I am pleased, Liwl, you have fooled these pathetic mortals well. The planes of choas are now aptly named thanks to your teachery. † The one named Liwl smiled at his apparent Dark Lord, who had now come into full focus, his cloak burning fiery red to match the embers glowing in his eyes. † Thank you my Lord, I did as you instructed. Every temple, every priest, believed me their deity and followed my orders without question † † Yes†¦ that is what worries me. As weak minded as those who dwell upon the Ethereal Plane are, they would have sensed an intrusion in one of their temples. Especially by you Liwl, they are especially suspicious of the God of Assains and Thiefs. † For a moment he gazed upwards towards the top of the stairs, almost caustiosly. Then it passed, an air of confidence and power grew about him, and he grew in size as he, with a great sweep of his cloak, transcended the great staircase in one leap. He was closely followed by Liwl, who had climbed the stairs quietly, quickly, making sure to stay in the shadows. † Hey you ! Peasant ! What are you doing inside the palace ! † shouted a guard of the palace, armoured in shining gold mail. The Dark Lord looked at the man running towards him, drawing his schimitar, and laughed. The sound pierced the air, and as it did the guard stopped. With a look of great pain he fell to the floor, blood now pouring from his skin. He lay there squirming, spasming with pain. The Dark Lord stopped laughing, gazed upon his victim, and with a slight movement of his hand incinerated the body. † My Lord, I have found the door ! † shouted Liwl, from the far left of the landing. † Open it Lwil, quickly, we cannot stand for these delays. I fear the Ethereal Planes will know of our plans shortly. † Acting with lightning speed Liwl drew two daggers from inside his cloak, and struck the lock. The very palace shook and with a bolt of lightning he was thrown against the wall at the other side of the landing. † As I suspected, Rezarf you value your God of Time very much. You understand the power she wields†¦Ã¢â‚¬ ¦ Liwl GET UP ! † Liwl obdentialy jumped to his feet and followed his master the Dark Lord to the door, now shimmering with arcanic runes. Iekkob drew forth a staff of sort, decorated with skulls of many different races, and tapped the door softly. BOOM The door flew off its hinges, flying through the room it was guarding. † I see you are here Iekkob. I must say I was expecting you when I heard what was happening outside the palace. † Through the smoke and dust the slender figure of a young woman walked towards the Dark Lord. † You are smarter than Rezarf gives you credit, Yholl. Are you sure you will not join me, the God of Time will aid my campaign well. † † You now where my alligance lies. Go back to the Nine Hells and plot with your Daemon servants ! The Gift of Time will only aid Good. † Shouted Yholl, her eyes glowing brightly. † Now leave, you cannot harm me here, you of all people know you can only harm an Ethereal Being on the Ethereal Planes. † † True, but then I do not wish to harm you. You only inherited the power of Time because your predessor lost his powers during the Time of Troubles. And now you to shall walk with the mortals. † Iekkob laughed, that shrill piercing laugh again, and before Yholl could react he had thrust his hand outwards. A beam of light appeared between his hand and Yholls chest, and slowly a sphere of glittering gold moved along it towards him. Yholl let out a scream as the sphere entered the Dark Lord. † It is done Liwl, the God of Time is banished to the mortal coil. And so is the only power Rezarf could use to stop me. † † But sir, why did you not just take the power of time for yourself†¦. or one of your loyal servants. † said Liwl bowing, his long nose almost touching the floor. † Beacuse my†¦ loyal servant † he laughed again, and the mortal Yholl fell wimpering to the floor † I cannot use powers designed for good, and I cannot allow anyone, ESPECIALLY, a loyal servant to posess a power that can stop even me. † And with that he disapeared. Liwl looked around at the debrey around the floor, and the wimpering mortal who was once the powerful God of Tme, and with a swoosh of his shadowy cloak followed his master into nothingness.

Performance Management and Awareness Essay Example | Topics and Well Written Essays - 500 words

Performance Management and Awareness - Essay Example Geisinger Medical Centre has adopted straight policy to promote the concept of performance evaluation. The scope of this project includes the administrative services, and healthcare facilities; these healthcare services include diagnostics, medical tests and laboratory services. The medical staff inclusive of doctors and paramedics shall essentially focus upon improvement of their performance by encouraging team work. The important management tool of delegation of responsibility shall be necessarily applied in Geisinger; the application of this tool will successfully organise the jobs. It is important for the team to perform SMART WORK, the patients / customers are more interested in receiving quick and proper services; a directional approach shall be adapted to improvement the overall performance of the team. The performance awareness campaign shall be launched, and brainstorming sessions shall be conducted to include the feedback of t he team members. The awareness of such campaign needs to be taken seriously by the team, and this can be only achieved if the performance evaluation criterion is incorporated in the job appraisal cycle of the employees. The performance improvement is identical to the process improvement.

Child Abuse with Adopted children Essay Example | Topics and Well Written Essays - 250 words

Child Abuse with Adopted children - Essay Example There is an increase in the number of transnational adoptions. IV History Effects Weir 2011 2009 controversy on a Tennessee mother sending back her adopted child rudely. Bonnet 2011 Adoptive father sexually abusing girl child. Miller et al. 2007 Death of 18 adopted children in the US. V Summary As family is the most private space that exists for an individual, any attempt to monitor and interfere in what happens inside a family will result in rising eyebrows, and allegations of an intrusion into personal freedom. This is why the case of adopted children falling victims to child abuse, go unreported and un-remedied often. Still time and again there have been some such reports coming in. It is in this context that the issue of child abuse of adopted children needs to be studied more. In an adopted family, a child can possibly have a series of problems as compared to conventional biological families. These include, difficulties in forming a tie with the new parents who are strangers to the child, absence of support mechanisms outside family, socio-cultural and economic gap, parents’ attitudes and expectations, differences in cultural standards of parenting, issues of class, race and religion involved, etc. These can be remedied only through establishing government leve l and community level mechanisms to monitor the problems of adopted children and to interfere if necessary. There are class, race and religious feelings involved.

Reply 1 Coursework Example | Topics and Well Written Essays - 250 words

Reply 1 - Coursework Example Unfortunately, he does not succeed in creating a creature that would be accepted by mankind and live harmoniously with other people. The wrath that the character possesses can be associated with harsh treatment that it receives from humans and lack of someone responsible to mentor it in acquiring social skills. It says, â€Å"All men hate the wretched; how then must I be hated, who am miserable beyond all living things!† (Shelley, ch.10, pg.83). Frankenstein fails to take responsibility for mentoring his creature to start thinking positively about its nature. He abandons it; a factor that exposes it to harsh treatment by other human beings, and also loneliness. Therefore, it starts to hate itself and humankind for the hardships of life that it experiences. Moreover, Frankenstein does not make any effort to defend his creature from being mistreated by other people within the society. He lets live miserably and starts blaming it for anything that goes wrong in his life. For instance, there is no substantial evidence to link the creature with the death of his brother. It is the hate that he has for the creature that makes him think that it handled the murder. He does not consider what if the creature visited the place where William died to mourn the death of its creator’s sibling because it would not be allowed to attend his burial

Analysis of Juicy Couture and a Review of Their Strategic Decision Essay

Analysis of Juicy Couture and a Review of Their Strategic Decision Process in the Changing Market Environment - Essay Example Understand and evaluate the reasons for changes in strategic decisions of Juicy Couture Company Compare the strategies of Juicy Couture Company with other companies Evaluate future strategic directions for the company. Initial Review of Relevant Literature Literature review is an important element of a research study. It is often considered as the foundation of a study. The literature review for this study will be carried out with the help of data from different sources. It will involve in-depth review of the theories on the importance of strategic decisions, which is portrayed by the scholars, in a competitive market environment. The literature review will discuss the origin of strategic decision making and its evolution with changing business environment. The study will also discuss why strategic decision making is important for the success of product innovation. Actions and decisions make the core of the strategic decision-making as well as implementation process. Strategic decisi ons can be considered as rational knowledge application to a problem. It includes finding answers to critical business questions such as different alternatives and consequences of the same. It also analyses the desirability of these consequences and applied criteria for the evaluation of various alternatives. In case of structured problems, a rational solution may be sufficient. But highly unstructured problems require specific solutions brought in only by strategic decisions. Porter (1996) has rightly emphasized that operational effectiveness cannot be considered as strategy. In other words, strategic priority is important for every organisation. According to Prahalad and Hamel (1990), realisation of core competencies can be one of the strategic priorities. According to... As the report declares literature review is an important element of a research study. It is often considered as the foundation of a study. The literature review for this study will be carried out with the help of data from different sources. It will involve in-depth review of the theories on the importance of strategic decisions, which is portrayed by the scholars, in a competitive market environment. The literature review will discuss the origin of strategic decision making and its evolution with changing business environment. The study will also discuss why strategic decision making is important for the success of product innovation. This paper stresses that actions and decisions make the core of the strategic decision-making as well as implementation process. Strategic decisions can be considered as rational knowledge application to a problem. It includes finding answers to critical business questions such as different alternatives and consequences of the same. It also analyses the desirability of these consequences and applied criteria for the evaluation of various alternatives. In case of structured problems, a rational solution may be sufficient. But highly unstructured problems require specific solutions brought in only by strategic decisions. Several studies have confirmed that innovation is the forward step for the companies in order to survive in the market place for a longer period of time. The review on literature will also help in analysing the future scope for the company their effective use of strategies for making their innovations successful.

Provision of Non Audit Services by the Auditor to the Audit Client Is Essay

Provision of Non Audit Services by the Auditor to the Audit Client Is a Threat to Auditors' Independence - Essay Example Introduction The value of an audited financial statement depends on the auditor’s independence. Accounting scandals such as Enron of the United States as well as HIH Insurance of Australia have created doubts regarding auditor’s independence and the value of their audit. The familiarity that is developed from the long audit tenure and the economic dependence arising from the non audit services and social bond developed between the auditor and the auditor’s client through long-term association have raised questions regarding auditor independence (Carson & Simnett, 2006). Non Audit Services (NAS) are also identified as ‘management advisory services’. Regulators believe that non audit services provided to audit clients is a serious threat to the auditors’ independence. Regulators believe that conflicts of interest occur and fee dependence has a damaging affect on auditor independence. Audit firms often defend themselves by saying that fee depende nce does not influence them and audit and non audit services are performed independently by separate staff (Houghton & Ikin, 2001). It is also opined that non auditing services help in reduction of total costs, improve technical competence and intensify competition. The audit firms, the audit clients and regulatory bodies can bring about efficient services mix through market interaction (Arrunada, 1999). 2. Literature Review 2.1 Non Audit Services of Auditors The services that external auditors provide to their clients can be categorised into consulting, tax and audit. Consulting and tax are often referred as non audit services. Section 201 of the Sarbanes Oxley Act lays down the services which the external audit firm should not perform. They cannot perform bookkeeping services related to financial statements and accounting records. They cannot design or implement financial information systems. They cannot perform valuation or appraisal services, actuarial services, management funct ions, legal services, litigation or administration related expert services. The auditor is also prohibited from providing marketing and planning related non audit services to the audit client and tax services to the management team or the family members of the team (Burke & et. al., 2008). 2.2 Threat to Auditor’s Independence It is believed that NAS services of auditors change their role from that of an outsider who can take a transparent view to that of an insider who actively participates in the decision making and acts as an advisor. The economic bond that is created between the audit client and the auditor through their contract hampers the auditor’s independence. In order to carry out a comprehensive analysis of the independence of auditors, it is essential to examine the marginal fee dependence that results from the NAS services in addition to the total fee dependence. It has been stated that auditors should factually as well as in terms of appearance, be indepen dent. NAS has an impact on the perception regarding the independence of auditors and it creates doubt regarding the authenticity of the auditor’s information (Francis, 2006). Legislations have banned the provision of several NAS by auditors for preserving the auditor’s independence. Regulators believed that auditors could go to the extent of sacrificing their independence in order to retain clients who pay large non audit fees (Defond & et. al., 2002) The various threats

How Setting Goals Lead to Success Essay Example | Topics and Well Written Essays - 1000 words - 19

How Setting Goals Lead to Success - Essay Example Goal setting is one of the most likely natural things that we do as humans.   We tend to move from one region to the other with goals.   The challenge is that most people fail to harness the power of it fully.   Therefore, I learned that there is a magic in setting goals.   More specifically, a written down goals is essential towards my success as the writing clarifies my thoughts.   It helps in committing towards something that I am passionate about, be it in the short term or the long run.   Therefore, a well-written goal instils the inspiration on how to move forward having the goal in mind (Rouillard, 2010).Goals give a direction in all areas of success, be it in personal life or career. It gives a purpose to carry on with a particular task. Working on a well-set goal gives hope and determination to succeed in all activities. Without goals, it is rather difficult to focus and to have a direction in a particular task. Therefore, goal setting provides a benchmark for de termining whether one is succeeding or not. A well-set goal is a secret to success. As the saying goes, â€Å"a goal well set is halfway accomplished† (Rouillard, 2010). Setting goals is the foremost and the most important step towards any achievement in life. The action level, as well as the action itself, stands as the catalyst to turn a particular goal, which is inert, into something that is dynamic. Therefore, to realize the objectives, it is recommendable to know how to set the goals. It is not a matter of merely saying, â€Å"I want it, â€Å" and it happens all of a sudden. Goal setting starts with a careful consideration of what should be achieved and ends with hard work in the process of obtaining it. At the intermediate, there are rules that one has to embrace to make the set goals a success (Rouillard, 2010). The rules noted as follows. At the foremost, it is important to set a goal that motives a person. It is substantial that the set goal is valuable to the set ter, and similarly, there should be an interest in the outcome. It is important to set goals that relate to the high priorities in life. Without such focus, it is possible to end up with too many goals leaving less time to devote to each objective. Hence, goal achievement needs a commitment to maximizing the likelihood of success.

Ethical issue Dissertation Example | Topics and Well Written Essays - 7000 words

Ethical issue - Dissertation Example Carbon offsetting and biodiversity offsetting are two examples of ways in which business can help with efforts to reverse damage to environment and society. However, because many avenues and opportunities are available for business to ignore the longer-term in favour of short-term interests, including profiteering, copyright and patent infringement, unfair trading and a neglect of product safety etc. a need exists for a broader examination of issues. The research presented suggests that although a sincere emphasis on corporate social responsibility will mitigate occasional and inadvertent harm to environment and society, a sustained record remains the key and it is unlikely that any business can continue to inflict harm on the environment and society without losing on the longer term. Declaration I certify that, except where cited in the text, this work is the result of research carried out by the author of this study. _____________________________________________ Name and Signature of Author May 2011 This write - up is for a dissertation on the impact of corporate Social responsibility on corporate irresponsibility and reputation. ... Sinners 10 2.3 Philanthropy and Strategic Giving as Corporate Social Responsibility 12 2.4 Deception for Corporate Social Responsibility 15 2.5 Significance of a Decent Historical Record of Adherence to Corporate Social Responsibility 17 2.6 Impact of Corporate Social Responsibility on Clients, Customers and Consumers 19 2.7 The Impact of Size 19 2.8 Corporate Social Performance 20 2.9 Carbon Offsetting and Biodiversity Offsets as Examples of Contributions for Corporate Social Responsibility 21 2.10 Conclusions about the Mitigating Impact of Corporate Social Responsibility 22 Chapter 3 Research Approach and Methodology 24 3.1 General approach 25 3.2 Methodology Framework 28 3.3 Secondary Research 30 3.4 Interpretation and Application of Results and Findings 31 Chapter 4 Analysis, Findings and Reflections 32 4.1 Analysis of CSR Indices, Publications and Case Studies 33 4.1.1 BP Deepwater Horizon Case Study 34 4.1.2 ExxonMobil Case Study 36 4.1.3 Toyota Prius Case Study 37 4.2 Observat ions Derived from Research 39 4.3 Reflection 39 Chapter 5 Conclusions and Recommendations 42 Bibliography/ References 45 List of Figures Figure 1: Maximising the Value Accrued from Philanthropy 14 (This page intentionally left blank) Chapter 1 – Introduction Now more than ever, contemporary society expects sustainability, responsibility and sensitivity to societal needs from companies and this challenges business to go beyond the predominantly economic view to take into account the wider context (Morschett, 2010, Pp. 221 – 222). The new normative perspective for companies now includes due regard for the environment, care in the use of resources including water, primary materials, energy etc. and issues related to human rights, transparency, child labour and sustainability. However,

Human Resources Essay Example for Free

Human Resources Essay Employees are always considered an asset to the organization. However organizations can never estimate what amount of this asset is required. Usually the number of employees is either higher than wanted or lower than wanted. Thus to cope up with either surpluses or shortages organizations have a number of methods that are as follows: To manage shortage of employees The first and foremost method to slash shortages is recruiting more permanent employees. This increases the number of workforce as required by the organization. However increasing new employees increases costs for the organization as well. Another method to overcome shortages is to retain employees within the organization who are retiring and offer them added incentives on a late retirement. Similarly another approach to lower down costs and still come over shortages can be to hire retired individuals again on a part time basis. This helps the organization to meet the shortage requirement in an efficient manner as no training is required and also the part time wages are low. Another approach can be to reduce turnovers by providing benefits such as premium pay etc. This is an effective way to retain old employees but can elicit a bidding war which the organization might not be able to control for a long time (Caruth, 1997). Over time and subcontracting is also a good way to deal with shortages. Sub contracting is an expensive procedure but obviously for a short time the company could afford to contract employees. Temporary hiring is also an option and is somewhat similar to sub contracting. Redesigning the job processes so that lesser employees are required is also a way to deal with shortages. This method though requires training so that employees adapt to the new job design and are comfortable with it and doesn’t result in heavier workloads and lowering down the talent level. To Manage Surplus of employees Surpluses are easier to manage then shortages. Stopping the hiring process, no replacements of those who leave, layoffs, offering early retirements etc are one of the most commonly used downsizing techniques (Mathis, 2004). Downsizing activities however have a negative effect on existing employee’s motivation and thus are usually avoided by most organizations. By introducing the shift system, number of hours worked can be reduced and efficiency of employees can be increased. Similarly, outsourcing or temporary employees shouldn’t be hired as there is already a surplus. To lower down costs, the company can either cut down pays across the board or switch to a variable pay plan (number of hours worked multiplied by per hour rate). In either way those with a lower pay or those who work lesser hours will prefer finding a new job that pays them more. Training is also a good way to deal with surpluses. Train half of the employees at a given time and let the other half work then train the later half and let the first half work. Though this is also something expensive and in the long run of no benefit to the organization. Voluntary severance is also another way in which you ask employees to volunteer if they want to leave the organization. Another way to utilize abundance of employees is by expanding operations. Though a firm cannot expand operations overnight nor it can expand them just to accommodate extra employees when there is no need of an expansion. Job Description My current job is as a sales and marketing executive at a technology corporation. I report directly to my sales and marketing director. The basic purpose of my job is to plan and carry out product activation and brand awareness activities in order to increase and sustain sales of my company. The core responsibilities of the job include developing and maintaining a database of customers and potential customers, to plan and carry out sales activities, develop new ideas, keep a track of sales performances, provide management with relevant information, frequently research on the market, the competitors and the customers in order to cope up with the changing needs, make connections with clients for business and organizational development, conduct training sessions to pass on my learning, skills and knowledge to my juniors. Apart from these I have to readily keep my colleagues up to date with all relevant information so that the department is on the same page in meetings or conferences. Communication is one of the foremost things in my job and I have to take care that relevant information reaches the pertaining individual on time. Redesigning the job description In order to redesign my job description following the exhibit I think the first thing that should be focused upon is that the job shouldn’t be monotonous as it is in the above mentioned case. The duties should vary from hard to difficult and from usual to unusual. Skill variety should be a basic part of it. This will lead to an increase of interest towards the job and thus will increase my motivation. My performance will also be definitely improved as I will be learning something different every time and this will be adding to my experience and skills. This will also alleviate the redundancy in my job to some extent (Tanke, 2000). One thing that I feel is lacking in my job is the power of making decisions on my own. As already mentioned I report to my director. At times he is not in the field and he does not have the true picture. In such cases a delay in decision making can be costly for the organization. Thus sales executives should be given the autonomy to at times make decision on their own which can benefit the company. Obviously everyone knows that wrong decision will result in losing the job. So every employee will definitely think for the best of the organization before taking any actions. Employee empowerment results in increasing employee confidence and provides them with new experiences particular to dealing with responsibilities. In turn, employees are satisfied with their jobs, feel a relationship with the organization and get a morale boost. One way to make an employee feel important is to provide feed back. Feedback tells the employee if their work is appreciated or not and in what areas they need to improve. If my director gets feed back from a client on any activity that I planned then it should be known to me as well. Apart from this there should be a little more flexibility in the management attitude so that they also understand that every employee has different needs (Tanke, 2000). Like my job could be more exciting if the management does not keep me sitting in the office just to fill in the hours an employee has to be on his seat. It would be beneficial for both if I am out in the field and monitoring and assisting in the sales activities. All these steps will definitely improve performance, motivation and satisfaction.

Relationship Between Inflation And Exchange Rate Economics Essay

Relationship Between Inflation And Exchange Rate Economics Essay Inflation is an increase in the price of a set of goods and services that is representative of the economy as a whole and an exchange rate is the current market price for which one currency can be exchanged for another. If the U.S. exchange rate for the Pakistani Rupee is Rs. 85, this means that one American Dollar can be exchanged for 85 Pakistani Rupees. Different journals give their opinion about relationship between inflation and exchange rate. Now we explain journals views about this relationship:- Haldane (1995)  [1]  present the design of inflation target is linked umbilical to the welfare cost of inflation. Yates (1995)  [2]  the design of many inflation targeting regimes includes specific exception for trouble that are predictable to outcome in momentary price level actions lone. This has been observing that optimal design of inflation depends upon the costs of inflation. Depending on how agents form expectations of future inflation, direct exchange rate effects coming through import prices may result only in price level shifts. This arises perceive that a portion of the observed inflation in the CPI index is the result of changes in import prices that are drives by recent movements in the exchange rate, and they form their expectations of future CPI inflation by looking through or ignoring these effects. Svensson (1997)  [3]  present the objectives of monetary policy which serves to place the choice of exchange rate and inflation targeting. Monetary police can control inflation and exchange rate in the long run. In the short run monetary policy can influence the inflation that have adverse effects. Since central bank control the exchange rate and nominal exchange rate does not have an inherent significant for welfare and economic growth. The choice between an exchange rate target and an explicit inflation target should be seen as the choice between different intermediate targets in order to fulfill the goal for monetary policy. Monetary policy cannot prevent such variability in the real exchange rate. But the negative consequences of such variability can be minimized with an inflation target. Bleaney and Fielding (1999)  [1]  present those developing countries which peg their exchange rate achieve lower inflation. Developing countries face a trade-off choosing exchange rate regime floating the exchange rate allows the authorities greater freedom to respond to exogenous shocks, so that they achieve greater stability of output (and inflation) than under pegged rates, at the expense of higher mean inflation. The hypothesis can be attributed to the inability of developing countries to import the anti-inflation creditability of the advance countries. The widespread adoption of floating exchange rates in the developing world has had a significant cost, with faster inflation than in the typical pegged-rate country. Evans Lyons (1999)  [2]  have used previous data on quotes and transactions to link up the activities of traders and asset prices over several months. They find a strong relationship between customer order flow and the DM/US$ exchange rate. A data set covering customer dealer trading and brokered interdealer trading become available, the order flow picture can be completed. The affects of increasing order-flow transparency may be important: unlike most other financial markets, the FX market is unregulated in this respect. McCarthy (2000)  [1]  finds that the impact of import prices and exchange rate on consumer price index in industrialized countries. The exchange rate has modest affect on domestic price inflation while import prices have a strong affect. This framework is incorporates a distribution chain of prices, has been widely adopted by a number of authors for analyzing the exchange rate pass through for various countries e.g. Leigh and Rossi (2002) for Turkey, Ashok (2002) for south Africa etc. Taylor (2000)  [2]  argued that pass-through is highest when exchange rate changes are perceived to be persistent and prices adjustment because of the expectations of the public. The pass-through will low because of low inflation. The pass-through changes in costs to prices, a decline that is frequently characterized as the reduction in the pricing power of firms. The paper alludes to the relative version pf purchasing power parity, which claims that base of equilibrium exchange rate between the two currencies will be determined by the relative movements in the price levels in the two countries. Change in the exchange rate has positive relation to the higher domestic prices. In this equation, there are E stands for exchange rate in terms of domestic currency per unit of foreign currency. Stands for foreign currency prices of the imported goods and P stands for domestic currency. When marginal cost is constant and markups of prices over costs is also constant than pass-through will be complete. Grauwe (2000)  [1]  analyze the implications of the view for transmission of monetary shocks. Monetary policy has different effects on the exchange rate and the price level depending on the nature of these beliefs. He claims that under the sets of beliefs that dominate the foreign exchange market, the ECB would found it difficult to control the rate of inflation. Odusola and Akinlo (2001)  [2]  present the existence of mixed results on the impacts of the exchange rate depreciation on the output in both medium and long term. The flexible exchange rate system does not necessary to adopt and lead the output expansion in the short-run. The discipline, confidence, creditability on the part of the government is essential. The official exchange rate shocks were followed by increases in prices, money supply and parallel exchange rate. VAR models suggested that the impacts of lending rate and inflation on the output were negative. The output and parallel exchange rate are the major determinants of inflation dynamics in Nigeria. The developments in the official exchange rate generate the positive impacts on the parallel exchange rate. It revealed that lending rate and inflation generated substantial destabilizing the impacts on the output, the monetary authoritys plays and critical role in creating an enabling environment for growth. Choudhri, Faruqee and Hakura (2002)  [3]  examine the performance of open economies all the way through macroeconomic models illumination the exchange rate pass-through in a extensive variety of the prices. He has been used the model based on VAR models and concludes that best-fitting models incorporate a quantity of features painted by diverse strands of the literature: sticky prices, sticky wages, allocation expenditure and a amalgamation of local and manufacturer currency pricing. Bhundia (2002)  [1]  analyzes the quantity to which fluctuations in the so-called exchange rate lead through to customer prices in South Africa. While the regular pass-through is established to be near to the ground, proof from a structural vector auto regression suggests it is much greater for supposed (against genuine) shocks. However, shocks to producer prices tend to have a considerable impact on consumer prices. He also found that pass-through is much higher for nominal rather than real shocks. The Rossi (2002) finds that the pass-through from the exchange rate to domestic prices continues for a year but is more intensive in the first four months, the pass-through to WPI is more pronounced than CPI, forecast of inflation. Rabnal also prove that pass-through to WPI is more pronounced than pass-through CPI. McFarlance (2002)  [2]  present the affects of exchange rate changing on one of the following (1) import export prices (2) consumer prices (3) investment and also (4) trade volumes. The previous study on Jamaica tells that the pass-through on prices and wages are significant. The inflationary impact of exchange rate depreciation in Jamaica has declined in recent years. Pass-through to the CPI is approximately 80% complete six months after initial shocks to the nominal exchange rate for the 1990 to 1995. And than after pass-through is less complete at approximately 45% in the 1996 to 2001 six months after an initial shocks to the nominal exchange rate. In addition to, the pass-through to CPI excluding starchy in agriculture to the CPI over the two sub-samples. The pass- through is approximately 70% in 1990 to 1995 complete six months after an initial shock to the nominal exchange rate. These results show that the speed of the pass-through has slowed significantly in the last five years. This situation shows the lower demand and structural transformation in the Jamaicas economy. Additionally there has been increased competition in the domestic economy: this coupled with the fall in output following the financial crises of the mid to late 1990s would have had an impact on per capita income and hence aggregate demand. Carr and Rebello (2002)  [1]  analyze the feasibility and complication of inflation targeting in the developing countries. There is wealth of econometrics attempting to demonstrate the success of various inflation regimes at decreasing inflation. The success of a county is in low inflation. Taylor (1991) shows the monetary authorities react to other variables besides inflation, such as output and exchange rate. Stylized facts indicate that a common implication of inflation targeting is an appreciating exchange rate due to capital inflows. The exchange rate appreciation is the result of inflation targeting with open capital markets. If prices are set as a markup over costs, than prices will be quite sensitive to changes in the exchange rate. The exchange rate affects the equilibrium of the iso-inflation curve. The increase in capital inflows causes the exchange rate to appreciate. The ultimate rate of inflation depends on the relative affects of the exchange rate, interest rate, a nd output. The inflation rate, exchange rate and interest rate dynamics evolve over time given initial short run equilibrium conditions. Berument and Pasaogullari (2003)  [2]  have reviewed in their study, that there is negative relationship between output and real exchange rate in Turkey. They analyzed that their exist long-term negative relationship between inflation and exchange rate and output. They run different VAR models and estimate the forecast error variance decompositions and impulse responses obtained from the VAR models were examined and they also analyzed the bivariate relationship between the set of the variables of interest. However, from Granger causality test, a significant causality between the variables could not be found. They found that a long-run relationship exists among inflation, exchange rate and output, which led us to employ VAR models. After including different variables in VAR models like real exchange rate, inflation, output, interest rate, capital account and current account real exchange rate movements were proved to be important in the variability of output. They suggest that to limit the detrimental effects of devaluation, the overvaluation of the currency must be prevented, and there is no easy way to keep output costs at moderate levels after devaluation. These finding suggest that an overvalued domestic currency may initially result in increased output but may create the risk of a financial crisis, which, in turn, may cause exchange rate depreciation and subsequent output losses. Carranza and Sanchez (2004)  [1]  explain the pass-through between exchange rate and inflation with the degree of dollarization. They suggest that those countries which have high dollarization demonstrate greater pass-through coefficients. With the use of fifteen samples emerging-market countries with the different degrees of dollarization , they find that pass-through in highly dollarized economies is indeed higher, but it also tend to be more asymmetric than in economies with a lower degree of dollarization. They define that there is negative pass-through coefficient during economic downtime. The reason for this irregularity is the unconstructive balance-sheet result that can lead the constructive competition effect generated by real exchange rate depreciations. Honohan and Lane (2004)  [1]  argued that exchange rate movements have important effects on inflation divergence within the EMU. The inflation rates of euro appreciation (2002-2003) as well as periods of euro depreciation (1999-2001). According to Irish case: in 2003 the pass-through of inflation and exchange rate was already under way and consumer price inflation stopped in its tracks. Inflation fell to zero in response to the strengthening of the euro vis-à  -vis the dollar. There is lagged correlation between Irish CPI inflation and the level of nominal effective exchange rate. They suggest the variety of regressions to exp-lain annual inflation differentials across the Euro zone over the 1999-2001 periods. They found the variations in nominal effective exchange rate movements explaining divergent inflation rate during this period, although the HICP data suggest that this largely operates via the influence of exchange rates on national output gaps. The exchange rate channel i s strongly significant for each of the inflation measures. There is also some evidence of asymmetries in that exchange rate depreciation passes through into inflation more quickly than does exchange rate appreciation. Finally our analysis with quarterly data 1999.1-2004 confirms the powerful connection between exchange rate and inflation. with the passage of time, it should be possible to construct a more complete accounting of the dynamic structure of the relationship between these variables than is possible with only five years of data. Rutasitara (2004)  [2]  explains that Tanzania in 1960s faced the inflation and there has been interest, therefore, in inflation performance and the role of the exchange rate in the process. When inflation rate rise, then erode the value of money holdings, trade flows, investors confidence etc. the controls covered prices (including wages, interest rate, goods prices, and exchange rate) and allocation of domestic credit and foreign exchange, the exchange rate became prominent in the policy debate on the internal and external imbalances. Until then, the parallel exchange rate had an upper hand on the rate of inflation compared with the official exchange rate. The impact of foreign prices and exchange rate depends upon existing pricing arrangements, which in Tanzania have ranged from controls to markets. While a more or less stable nominal exchange rate is desirable for trade and investment decisions, it is more important to maintain the rate at sustainable levels. The level and pr ospects of the foreign reserves position are important in this respect. The exchange rate remains precariously sensitive and easily vulnerable to exogenous shocks, domestic economic factors, and non-economic events like social and political instability that may generate a desire to shift financial assets into a foreign currency considered to be more secure. Bleaney and Francisco (2004)  [1]  define that if the monetary authorities adopt an accommodatory stance by allowing the money supply to respond more to the price shock, then inflation will be more persistence. Smith (1991), Alogoskoufis (1992) and Obstfeld (1995) compare persistence estimates for OECD countries over different periods characterized by different exchange rate regimes. When monetary authorities in the OECD countries began to recognize that a tough response to inflation shocks was necessary to keep inflationary expectations down. Our results show that inflation persistence is much the same under soft pegs as under floating. It is significantly lower under hard pegs (currency boards or a shared currency), where the scope for monetary accommodation of inflation shocks is much reduced. Adolfson (2004)  [1]  suggest that the pass-through from exchange rate changes to prices in Swedish currency of imported goods is discussed as well as conceivable reasons for why these changes are not passed through completely in the short-run. The inflation rate in Sweden had recently been low. inflation = weight x domestic inflation +(1-weight ) x imported inflation Where weight is domestic inflations share of total inflation. As a result, conditions in Sweden will also affect imported inflation, not only via the exchange rate but also through an impact on foreign exporters prices for Swedish importers. The relative significance of the exchange rate and world market prices for Swedish import prices is difficult to determine, however, since it is rare that data is available that would enable a comparison of the price of a certain product in the Swedish market. Rather, the recent fall in import prices seems to be largely attributable to exchange rate developments. T5hus in the short-run, the pass-through from exchange rate changes to Swedish import prices appear to be limited. There is weak relationship between exchange arte and prices in the foreign market. Bailliu and Fujii (2004)  [2]  argued that credible monetary policy play an important role to decrease the inflation in industrialized countries. Many industrialized countries that the extant of pass-through of exchange rate into buyer prices has turned down. They argued that ERPT is primarily a function of the persistence of exchange rate and price shocks, which tend to be reduced in an environment where inflation is low and monetary policy is more credible. Using the data of 11 developed countries more than the period from 1977-2001, they evidence to support the hypothesis that EPRT declines with a shift to a low-inflation surroundings bring about by modify in the financial policy control. The consequence proposes that pass-through to import; manufacturer and consumer price inflation reduces following the inflation stabilization that occurred in most of the developed countries in the early 1990s. Ruiz (2005)  [1]  in this study describes the effects of inflation and exchange rate uncertainty on the rate of real economic activity.  He explains in his literature that these two issues and discrete issues.  Note whether the frequency of inflation or the frequency of exchange rates on economic growth in the various actions or financial activity.  In this paper, the author tries to address these issues by analyzing the size and direction of the effect of: inflation and the frequency in the exchange rate on real economic activity.  Through the introduction of dummy variables and control of monetary policy change (change of inflation targeting and flexible exchange rate).   Autoregressive using a variety of conditional (GARCH) rates of inflation and exchange rates, and predictive models obtained conditional variance errors and measures of uncertainty.  The study results indicate that the increase in the higher level of uncertainty, causing inflation farms, and vice ve rsa for the Colombian economy.  In addition, the issue of inflation just to get out of the frequency of negative impact. Goldstein and Lardy (2005)  [2]  define as the weight of emerging economies in the global economy has increased. This is particularly the case with chinas exchange rate policy since it is now the worlds third largest importer and fourth largest exporter. Thus, any adjustment of Chinas exchange rate regime will have to maintain most existing capital controls until the domestic banks are further strengthened. China could simultaneously and immediately remove the restrictions on capital flows and let the market determine value of the RMB. The constraints mean the search is for second-best policy options. International codes of conduct for exchange rate policy are no less necessary than those for trade policy; without them, there can be a free-for-all that is in no ones interest, least of all the emerging economies that depend so heavily on access to international markets. Currency manipulation is not a narrow academic issue, akin to how many angels can fit on the head of a pin. It i s instead a legitimate practical concern in establishing a level international playing field. Grauwe (2005)  [1]  gives their views on the relationship between inflation and exchange rate that exchange rate regime and inflation is that pegged exchange rate contribute to lower and more stable inflation. The exchange rate fixity does not reduce economic growth in the South Eastern and Central European countries. In countries, with strong institutional framework (based on central bank independence and developed money markets), low inflation can be achieved without any specific commitment to an explicit exchange rate target. In large (closed) economies, inflation targets-which imply freely floating exchange rates-will not affect the volatility of inflation. On the contrary, by fixing exchange rates to the euro, the countries at the EMU periphery can reap the benefits of more trade and lower interest rates. The view that entry into the euro area will constrain the growth potential is not warranted. The evidence also shows that for these small, open economies, stabilizing excha nge rates has been a source of macroeconomic stability. The Mundell framework seems to be the right one to use in thinking about the desirability of joining the euro area. The risk of to join the EMU will be particularly strong, if labor marker flexibility is low. Vargas (2005)  [1]  explains monetary policy in Colombia converged to a pure, full-fledged inflation-targeting strategy after the abandonment of exchange rate bands in 1999. Colombia had experienced moderate inflation (15-30 percent annual rates) for about 20 years and a crawling-peg regime with capital controls had been in place since 1967. In the context of a monetary policy strategy based on the use of intermediate monetary targets. Thus, a floating regime was established and monetary policy converged to a full-fledged inflation-targeting framework. Monetary and foreign exchange policy had two main initial objectives. The first was to continue gradual disinflation toward its long-term target and the second was to restore international reserves to levels that would limit the external vulnerability of the economy. Starting from a deep recession, the policy stance has been expansionary. Inflation has declined along decreasing targets, output has recovered and international reserv es have reached levels that limit the external vulnerability of the economy. The most convincing hypothesis about the rationale for intervention in Colombia is the argument in favor of managed floating. Thus, fiscal imbalances pose a threat to the credibility and power of monetary policy through several political economy channels. Angkinand and Willet (2006)  [2]  Studying the effects of the choice of exchange rate regimes on the likelihood of financial crisis in a sample of a very talented market and developing countries for the period 1990-2003.  It is a multi-channel testing of potential impacts of exchange rate regimes to crises.  They found that soft Pegs associated with other central systems with high potential economic crises of the regulation reform difficult corner and rates are very flexible, and partly because it seems to be associated with more loans in foreign currency are not protected and extension  extreme credit of the Interior.  Also affect the test through the channel of the monetary crises caused by the strong relationship between monetary and financial crises, and between the soft Pegs and monetary crisis.  These effects are much stronger in the market, the increase in developing countries. Allsopp, Kara and Nelson (2006)  [1]  define the United Kingdoms monetary policy strategy can be characterized as one of floating exchange rates and inflation forecast targeting. The specification of exchange rate and inflation relationship implied by standard New Keynesian models, which postulate that imports serve as finished consumer goods, is inconsistent with the U.K empirical evidence. It is a well-known principle in the New Keynesian literature that the index whose inflation rate is targeted should refer to the set of prices which are sticky and which prevent the instantaneous achievement of the flexible-price equilibrium. The broader policy implications arise from the way in which openness is modeled and the way in which exchange rate changes impact on inflation. In the standard model, there is a direct and immediate effect on the price of imported consumer goods, which then impacts directly on inflation. When imports are intermediate goods, following the specification us ed and recommended by McCallum and Nelson (1999), the U.K. evidence can be reconciled with optimizing theory. In particular, the weak relationship observed between consumer price inflation and exchange-rate changes, despite strong rates of pass-through, can be rationalized. Furthermore, this modeling strategy implies that it is appropriate to target consumer price inflation. Monetary policy regimes do matter for the exchange rate/inflation relationship, but not in the manner argued in the literature. Several studies have appealed to the role of monetary policy regime in blocking the pass-through of exchange-rate movements to imported goods prices. The U.K. evidence instead is consistent with substantial pass-through to import prices across regimes. Adjustment of the relative price of imports is often a desirable response to real shocks hitting the economy. To some extent, this adjustment may be facilitated by permitting a one-time rise in the aggregate price level even if at the cos t of inflation temporarily moving away from the target. The U.K. experience under inflation targeting, however, suggests that only minor deviations of inflation from target would be required for this purpose. the exchange rate should be taken into account only via their influence on the forecast for consumer price inflation are open to the criticism that standard models suggest that consumer prices constitute too broad an index to target, and that the imported component should be removed from the targeted inflation rate. A properly-measured output gap (i.e. one which takes into account the negative impact on potential output of a higher real cost of imports) is an adequate summary of the implications of exchange-rate movements for welfare. Edwards (2006)  [1]  says that in many countries the nominal exchange rate is often used as a means of curb inflation.  Currency crisis are common, and usually the result of acute (Real Madrid), excessive exchange rate. It affects inflation, exports, imports and economic activity. For decades the vast majority of emerging countries had rigid exchange rate regimes. This move away from exchange rate rigidity has tended to take place at the same time as many countries have embraced inflation targeting as a way of conducting monetary policy. The conjunction of IT and flexible rates has brought to the center of the discussion a host of new policy issues, including issues related to the role of the exchange rate in monetary policy, volatility and the relationship between exchange rate changes and inflation. He addressed three of this issues: (a) the relationship between the pass-through and the effectiveness of nominal exchange rates in IT regimes; (b) the effects of IT on exchange r ate volatility; and (c) the role (or potential role) of exchange rate changes on the monetary rule in IT countries. Countries that have adopted IT have experienced a declined in the pas-through from exchange rate changes to inflation. In many of the countries in the sample this decline in the pass-through has been different from CPI inflation than for PPI inflation. The adoption of IT monetary policy procedures has not resulted in an increase in (nominal or real) exchange rate volatility. there is some evidence that IT countries with a history of high an unstable inflation tend to take into account explicitly developments in the nominal exchange rate when conducting monetary policy. Kamin (2006)  [1]  Describes the comparative research between the response to changes in inflation rates in competitive exchange rates in various regions of the world.  The report shows that the empirical relationship between inflation and the level of real exchange rate, which has been documented in Mexico earlier research by the author, covering a wide range of other countries.  This can be a dilemma for policy makers because it means you cannot lower inflation and increase the competitiveness of exports access to the same time.  In response to the inflation of the real exchange rate is much higher in Latin America, Asia or in industrialized countries.  This difference in the responsiveness of inflation is not a full explanation of the date of inflation or the degree of openness to foreign trade.  It may be less sensitive to inflation, real exchange rate in Asia than in Latin America is going to allow Asian countries continues to focus on always maintaining competitiv eness and export growth.<

Emily Brontës Wuthering Heights :: essays research papers

Wuthering Heights   Ã‚  Ã‚  Ã‚  Ã‚     Ã‚  Ã‚  Ã‚  Ã‚  Perhaps one of the greatest love stories of all time, Emily Bronte’s Wuthering Heights is the tale of a love that is stronger than death. Through the theme of unbegotten love and unwavering remorse, Bronte creates a brooding atmosphere that cannot be lifted. With Cathy’s underlying passion for Heathcliff and his undying love for her, the passion and suspense are represented magnificently.   Ã‚  Ã‚  Ã‚  Ã‚  Bronte provides the use of an outside character, Mr. Lockwood, to portray this passionate story. Mr. Lockwood is troubled by the strange atmosphere which surrounds the estate of Wuthering Heights. Through his curiosity and determination, the story is slowly unfolded. Mr. Lockwood’s feelings and interpretations during the telling of the story emphasis the themes and atmosphere provided by Bronte. This man’s feelings and desires for the young Cathy only adds to the twists and turns of this wonderful tale.   Ã‚  Ã‚  Ã‚  Ã‚  The theme of revenge is very prominent in this tale as well. Heathcliff’s plot to unite the two families through the marriage of his son Linton and Cathy’s daughter Catherine is a major part of the story. Heathcliff is a dangerous and cruel man, made that way by his unrequited love for Cathy. He hopes to get his revenge on Edgar by receiving his estate when he dies. His revenge plot was heightened when he would not allow Catherine to see her father before his death. She then lived with the belief that her father died without the knowledge that she loved him. His revenge was somewhat spoiled by the

Leukemia Essay -- Cancer Health Medical Leukemia Essays

Leukemia Leukemia is a cancer that has had a significant effect on our society and with the developments of new drugs it may become treatable. Leukemia originates in the blood-forming organs which may include the lymph tissue and bone cells. In a person with leukemia the rate and the number of cells produced is altered. This altering can become fatal, or with proper treatment it can be subdued. There are two main types of leukemia which include "total" and "differential." These are mainly characterized by the appearance of white blood cells. When leukemia attacks the blood cells, the bone marrow (where blood cells are made), the spleen, and the lymph nodes are extremely weakened (Reagan 90). The classification of leukemia is based on what organ it is attacking. Leukemia can be in acute or chronic form, which means it can happen rapidly, or be prolonged and severe (Bourne 996). To diagnose leukemia doctors have to insert a needle into the bone marrow to extract it and then then view it under a microscope to see if it has any abnormalities that relate to that of leukemia. Some of the symptoms that are involved with leukemia include: lack of energy, fever, susceptibility to infection (because of lack of white blood cells), excessive or repetitive bleeding, easy bruising, and also enlargement of the liver, spleen and lymph nodes (997). This disease has been known to cause about "10% of all cancer deaths, about 50% of all cancer deaths in children and adult...

Booker T. Washington and W.E.B. DuBois Common Goal of Equality for Afr

Booker T. Washington and W.E.B. DuBois' Common Goal of Equality for African Americans The United States societal system during the 19th century was saturated with a legacy of discrimination based upon race. Cultivating a humanitarian approach, progressive intellectuals ushered in an era of societal reconstruction with the intention to establish primary equalities on the pervasive argument of human race. The experiment poised the United States for rebellion and lasting ramifications. The instantaneous repercussions for both races evolving from the emancipation of African-Americans were plainly stated by the daughter of a Georgia planter in the summer of 1865: "There are sad changes in store for both races" (Nash 469). The long-term ramifications are still in progress. The combination and division of commerce and virtue, north and south, white and black, violence and empathy, and personal and political agendas, created the birth and death of the era of Reconstruction that began during the Civil War and ended in 1877. However, the period of Reconstruction provided the en try for two African-American men, Booker T Washington and W.E.B. DuBois, to rise to leadership positions while propelling radically opposing ideologies. The two differing ideologies served as anchors in a society adrift. Both races, being tossed about by the storm Reconstruction had unleashed upon society, were compelled to reach-out for the anchors that symbolized the prospect of stability. Washington and DuBois anchors were thrust in different bodies of water, but both men's proclamations existed in currents that surged toward a collective body of water. Washington and DuBois's positions on the collaboration amongst the races had extreme variations due to their... ...re dropped in different bodies of water, the two men's concepts continue today to flow and intertwine into one body of water. The historical era of Reconstruction had a beginning and end, but it did open the floodgate to prosperity for the United States by unleashing the enormous voice and wisdom of two extraordinary men; voices that forever changed our society's way of life. Works Cited * Washington, Booker T. "Up From Slavery." The Norton Anthology of American Literature. Nina Baym, General Editor. 6th ed. New York: W.W. Norton & Company, 2003. 761. * W.E.B. DuBois. The Norton Anthology of American Literature. Nina Baym, General Editor. 6th ed. New York: W.W. Norton & Company, 2003. 876-877 * W.E.B. DuBois. The American People Creating a Nation and a Society. Gary B. Nash And Julie Roy Jeffrey. 4th ed. Brief. New York: Longman, 2003. 469,481-82,517.

Persuasive Essay on Curfews Essay

Students under the age of seventeen have a curfew of 10 pm Sunday through Thursday and 12 am on Friday and Saturday. The curfew ensures that all students should have no business in a public place or out on the streets late at night. There are obviously some valid reasons why this is enforced and I am completely in favor of this decision. Many dangerous kinds of people come out late at night to see if they can get kids into some kind of trouble. Kids get kidnapped, raped and killed out in the open because its dark and nobody can see it happening. Illegal drug deals happen at night, again, because nobody can tell that they’re happening, and who’s out that late anyway? These times are decent and keep kids out of trouble in the dark. What teen-favorite restaurants are open after curfew time? Not any. The only restaurants and public places that are open after 10pm/12am are very few fast food restaurants and bars. Teens 17 and under aren’t allowed in bars so where would you go that late? There is absolutely no reason why any teen or child would be out late without a parent and/or guardian. Nothing is worse than one extremely worried parent. Personally, if I don’t answer a call or answer a text within 5 minutes of receiving it, they already think I’m doing something wrong. Especially if it’s after the city curfew. Most parents (much like mine) worry dearly for their teenager. At night who knows what runs through a parents mind when their child is having fun with friends. They might think their kids are out doing drugs, having sex(possibility of being on 16&Pregnant), speeding down streets, breaking into stores, sneaking into bars, getting drunk, etc. Although most of us aren’t, they think the worst of us. For the sake of a reassured parent, the curfew is a good thing. In conclusion, the 10 pm weekday, 12 am weekend curfew is a very good choice for the city. Coming from a teenager, whose been yelled at and grounded for being home past curfew, it’s a good thing. Common sense, closing times, the crazy people we have in this world, and our crazy parents are all very obvious reasons why this curfew is good, and should very well be enforced.

Hippa and Information Technology Essay

In this checkpoint I will be discussing certain questions that involve HIPPA and information technology. With technology growing every single day, there are questions that are always involved when dealing with medical record issues. One question would be what advantages could a standardized medical records database offer? What HIPPA issues could arise? And why do you believe technology in the medical records management industry is so far behind other industries? These are the questions I will be answering in this checkpoint. I will start off by talking about the advantages a medical records database could offer. The main advantage of a standardized medical records database would be the convenience. To be able to locate a file with the push of a button would make work for the staff a lot faster. With paper documents it could take hours for another physician or hospital to obtain the information they would need. Another advantage would be the time it would take for a person to travel to and from their physician office to obtain their records for another facility. What HIPPA issues could arise? The main issue when dealing with medical records being online would be their patient’s information staying safe. In these days too many people are able to access sites and databases that should be secure. With people being able to hack and steal identities, this is a major problem when it comes to HIPPA issues. Another issue that could arise would be a patient not signing the forms to allow information to be posted. If a patient does not sign their name, their information should not be put online or given to any other individual. Who do you believe technology in the medical records management industry is so far behind other industries? I believe that the medical record management industry is behind others is because of security. The information that this industry deals with is very sensitive and should be protected at all costs. There are several laws that are in place to insure the protection of the patients and if any of their information were to be leaked, the facility would be in a position for legal action.

Shown Before Photoshopped

By living in a visual world, companies frequently run ads using photoshopped pictures. The image presented is near perfect in appearance, yet it is not always truthful. Despite the numerous cautions implied by doctors or inscribed on cigarette packets, smoking has been a fashionable trend throughout the years. Some advertisements influence individuals in becoming addicted to the nicotine inside the health hazard wrapped within paper. Other advertisements tend to sway the viewer into pondering the general concern of the problem at hand.Photographer Mike Stubbs’s photo of Terrie Hall focuses on his subject’s physical appearance not altered in photoshop, instead, altered by surgery. By presenting Terrie Hall, a former smoker, in this advertisement, the harsh and shocking truth about smoking is exposed. This picture introduces Terrie as a 52 year old woman from North Carolina. A quarter size hole in Terrie’s throat causes one’s eyes to focus on the rest of her disfigured appearance. Directly to the viewer’s right of Terrie are large, bolded white letters that spell, â€Å"Record your voice for loved ones while you still can.†In Terrie’s lap is a small framed picture of her with her child. Unfocused, is a background of a white wall and another framed picture of the same child on a nearby table. Unfortunately in a society where one’s image is so important, these businesses and their buyers do not want people to know the underlying truth. Tobacco businesses would not enjoy the presence of Terrie Hall working for their company because of the effects of her cigarette usage over the years. The quarter sized hole in Terrie’s throat is the result of surgery to remove her cancer filled voice box and its surrounding structures.The hole, or stoma, is how Terrie breathes. Smoking also causes other life suppressing damages such as the deterioration of one’s lungs, bladder cancer, and other various chronic dis eases that advertisements do not consider when supporting their product. Most advertisements promote cigarettes by using a selection of people that are often fairly attractive. Michael Stubbs, on the other hand, selectively chose Terrie Hall for her true appearance. The advertisement or commercial commonly shows the desirable people in a party scenario where cigarettes and booze are prominent.What these companies are hiding is the truth buried beneath the photoshop and scripted lies. The CDCP, Center for Disease Control and Prevention, started the anti-smoking ads in 2012 and have continued these commercials into this year as well. â€Å"Officials believe the campaign led as many as 100,000 American smokers to quit† (Associated Press par. 5). Being the only one to return for this year’s round of advertisements out 24 others, she shares her everyday life to the public.Typically when Terrie wakes up in the morning, she has many tasks to accomplish before leaving the hous e like everyone else. But prior to breakfast, she throw on her wig and puts in her false teeth. Terrie tosses a scarf around her neck in order to cover the stoma in the middle of her throat. The puzzling message in large white letters to the right refers to Terrie’s loss of ability to talk due to the removal of her own vocal cords. Terrie Hall once stated, â€Å"It’s the only voice my grandson’s ever heard† (par. 15).Total laryngectomy is the removal of the entire voice box including the structures around it. The cancer moves into surrounding cartilage that makes up the voice box’s outer structure. From this, the trachea must adapt with the help of the electrolarynx, a device one must put to their neck in order to transmit sound into the throat. The vibrations create noise for the pathway of sound to emit into words and phrases. Terrie Hall’s appalling appearance on television caused the baffled viewer to ponder the message displayed.â€Å" It was the campaign's most popular spot by far, receiving more than 2. 8 million views on YouTube — more than any other CDC video ever posted online† (Associated Press par. 7). Unfortunately during this summer of 2013, Terrie’s cancer spread to her brain. No amount of radiation or surgery could have saved her life when Terrie Hall died in September of 2013. â€Å"She was a public health hero,† says Dr. Tom Frieden, director of the Centers for Disease Control and Prevention, and Frieden also mentions, â€Å"She may well have saved more lives than most doctors do† (par.2).By living in a visual world, companies frequently run advertisements using photoshopped pictures, so the image presented is near perfect in appearance. These pictures are not always reliable. Smoking can cause oral, throat, and lung cancer along with emphysema. Photographer Mike Stubbs’s photo of Terrie Hall focuses on his subject’s physical appearance not altered in ph otoshop, but by surgery. By presenting Terrie Hall, a former smoker, in this advertisement, states the harsh consequences of smoking.

Interoffice Memorandum Essay

In recent months, the Roanoke office has had complaints from four clients. Customer satisfaction is declining; this is partly due to low morale among the branch’s employees. It has come to my attention that some of the graphic designers and art directors feel that their ideas are not being taken seriously. All the while, employees are work longer hours without proper compensation. We must give our immediate attention to this situation as Roanoke handles some of our biggest clients. We must also be sure the employees we hire are being treated as part of a team. As an executive team, it is very important to reach out to the Roanoke branch to find out the root of the problem before the entire company is affected. Here is my proposed plan of communication with the branch: †¢ Zachary Sylvan – Speak with Roanoke’s clients to see if they can give any feedback as far as trends they might be seeing in the branch’s operations. †¢ Al Gucciardo – Speak with the Public Relations department employees and get their feedback †¢ Troy Richards – Speak with the marketing department employees for their feedback †¢ Devi Dewdat– Speak with the advertising department employees for their feedback Please put together a report from each person you speak with by July 31, 2014. I will meet with Michelle Garner, the HR director of the Roanoke branch to discuss the issues. We will then hold an executive meeting to discuss the status of the branch and what changes need to be considered. Thank you in advance for all your time. This is a very critical time for the Roanoke branch and the company as a whole. As previously discussed in our last meeting, we need to communicate with the employees at your branch about their concerns due to the longer hours they have been required to work recently. Please provide the payroll statement for the branch for the past 12 months. These will help the executive team analyze how the employees’ time is being managed to see where management might be falling short. This is a very critical time for the Roanoke branch. We must work together to end to the low morale that seems to have taken over the office. With that, please make that getting these statements your top priority today. I will be traveling to the branch on Thursday, July 31 to go over them. Please keep in mind that we will be approaching this situation at all angles and we can discuss some ideas on how to improve employee morale overall at our meeting.

Critically document a game design Essay Example | Topics and Well Written Essays - 1750 words

Critically document a game design - Essay Example When the activity is set to be a competition where rules are set, then biking will not just be another play but becomes a game. Another essential to consider in games is the goal. There should be an objective for the player to achieve in order to make the game more entertaining and educational at the same time. Instructions & Pretense Crazy Cabbie (mindjolt.com 2010) is the computer game which this paper will be looking into, critiquing the essential elements of a game, whether it met all the requirements or not and what would make it to be a good computer game. It is an interesting game where the pretense is for the player to be a crazy cab driver whose goal is to finish a set distance within the set time. The instruction is given just below the title of the game which makes it easily seen, giving the player the important information before even starting with the game. Somehow, it also serves as a factor attracting players to notice the game. The instruction is clearly stated and ea sily understood even by first time computer game players. Though it is short, it covered all the important things needed for the player/s to know. This is a sign of a good game design. Challenges of the Game Crazy Cabbie is interesting to players because of the challenges it presents and the goal that has been set for the player to succeed in doing. Since the objective of the game is to overcome all the obstacles, which would be the other cabs the cab driver meets on the road in thirty seconds, the player is thrilled to get to the finish line on time and can even make it his personal goal to outrun all the other cabbies in a shorter time than was set. The arrow keys on the keyboard are used to move the cab with the upward arrow key used to accelerate the car and the downward arrow key to decelerate it. The right and left arrow keys on the other hand are used to move the cab to the right or left lane, respectively to avoid other cars that block the player’s car. When all the l anes are blocked, the player’s cab can jump over them through the use of the space bar. Thrill and Technique As the game progresses, more cars blocking the road are presented as obstacles, making it more difficult for the player to reach the finish line on time. The time for each level also is lessened by two seconds every after one level up which keeps the player to be more attentive and creative in maneuvering the car’s moves. The game is said to create an artificial intelligence (Adams 2010) by allowing the player to discover strategies in order to overcome all the obstacles set in the game with the use of all the available moves for the player. For instance, in cases where the three lanes are blocked by three cars on the same level, the player has no other option but to jump over them. The challenge comes when the cars are aligned side by side and in a consecutive fashion. Moreover, the circumstance becomes more challenging when the distance between the cars become s shorter, making it difficult for the player to overtake them when he misses to jump over one of the aligned cars. When the player’s car gets very near the obstacles before jumping, he is not able to have the maneuver succeed because the car needs some space for it not to bump on the other car, causing it to fall back to its original place. The trick then

Mount Nimba Strict Nature Reserve Essay Example | Topics and Well Written Essays - 1000 words

Mount Nimba Strict Nature Reserve - Essay Example This site is also famous for its bio diversity. As per the findings of UNESCO (World Heritage Nomination, 1992), a number of more than 500 new species of fauna have been discovered in Mount Nimba Reserve and there are more than 200 endemic species. The species diversity found here is rich because of the variety of eco tones created by the presence of grasslands which are tied with the forest. The mammals of Mount Nimba include bushbuck, black duiker, bay duiker, forest buffalo, bush pig, white-bellied pangolin, pygmy hippopotamus, leopard, lion, golden cat, two-spotted palm civet, African civet, forest genet, Johnston's genet, cane rat, African clawless otter, lesser otter shrew and chimpanzees. Apart from the animals, there are a number of rare and endemic bird species as well here in. The forests also contain numerous reptile and amphibian species including West African toad and much variety of frogs (World Heritage Nomination, 1992). This biodiversity includes flora as well. When it comes to the biological interrelationship among the life forms, we should consider the food chain. The bottom tier of the food chain is constituted by the flora including grasses, trees and shrubs. The second tier of the food chain consists of all the animals such as deer and buffaloes that assume plants and grass for their food. Finally, the predators include leopards and lions. The existence of one section is impossible in the absence of another section. Thus, all sections are equally important as they depend on each other for food and existence. Though Mount Nimba was not much affected by human intrusions, it had a severe threat in 1992 by an international consortium as it came forward proposing an iron ore mining site in this area. In addition to this, a large number of refugees from Liberia invaded this park for their inhabitation. As reported in United Nations Environment Programme (2008), The World Heritage Committee expressed its concern over the issue and placed Mount Ni mba among the list of world heritages in danger. In response to the Heritage Committee's concern about the impacts of mining and the refugees to the Mount Nimba, the Guinean Ministry for Energy and Environment in 1995 set up a Management Centre that is answerable to environmental and legal questions, for monitoring the water quality of the region, for socio-economic studies and integrated rural development. The strict prohibition of tourism prevents further human intrusion in the site (United Nations Environment Programme, 2008). On realizing the importance of keeping and preserving the heritage and sanctity of Mount Nimba, on 28 January 1989 a convention was signed by UNDP, UNESCO and the Guinean government to initiate a two-year project to study the impact of traditional agricultural methods and iron ore extraction etc, that disturbed the environmentalists for a while, on the natural values of the site. The project proposed included scientific studies to ascertain complete knowled ge of the reserve's extremely rich and immense ecosystems, and technical measures for monitoring and protecting the biodiversity in it. Being listed in the world heritages list by UNESCO, Mount Nimba is well protected. The prohibition of tourism in this area was as well in the belief that it would help the site to prosper without any hold back (World Heritage Nomination, 1992). There are a lot of things that a man can do to help