What´s Positive Psychology - 1099 Words

As discussed in Paper #1, positive emotions and thinking, character strengths, and values are integral to positive psychology. Positive psychology asserts that by addressing each of these core concepts, people can live a happier, and by extension healthier, life. However, the productivity and well-being which can result from the applications of positive psychology are viable far beyond the personal level; when utilized at the institutional level, the same efficacy can be seen in much broader contexts. Accordingly, in this paper I will discuss the usage of the aforementioned core concepts in three distinct institutional areas: family, school, and the workplace. I will conclude on the underlying themes seen in each, and the effect that†¦show more content†¦When examining the application of positive education, all of the above can be found easily: students learn what is best for them personally, students are respected as members of their own teaching team, and students are give n expectations which are clear and fair. In terms of workplace applications of positive psychology, institutional values are the easiest need met. Deeply engrained within company mission statements are guiding principles which serve as the moral tenets for an organization’s culture. Ensuring there is an articulated goal within a company’s mission statement, and further ensuring that workplace practices effectively work towards those goals in ways which are fair and equal, can create strong feelings of togetherness within personnel. More difficult within a good workplace, is the proper usage of character strengths. Character strengths can play the biggest role in ensuring employees find flow within the workplace. Additionally, if employees can reach heightened levels of engagement, they may also experience greater levels of workplace satisfaction and happiness. Unfortunately, as described by Claudia Harzer and Willibald Ruch, the application of character strengths may pose an issue, â€Å"Firstly, anShow MoreRelated88899891530 Words   |  7 PagesAspects of psychology Emotional Intelligence February 07, 2013 Emotional Intelligence By: Jasmine N. Gresham (SSCI206-1205D-01) DiMatteo * Do you think that positive psychology is in more demand now that stress and economic hardship is more prominent in our country? * Are people under more stress now than in the past? * A description of the field of positive psychology Read MorePsychology : Theories Of Personality1577 Words   |  7 PagesFaculty Use Only The Humanistic Approach to Understanding Personality In the 1950?s, the field of psychology was dominated mainly by two schools of thought: psychoanalytic theory (the unconscious mind and unconscious motivations that shape human behavior), and behaviorism (the ways in which conditioning processes shape human behavior). To many humanistic and positive psychologists, psychoanalysis and behaviorism offered interpretations to personality and behavior that wereRead MoreResearch On Cancer And Psychology1610 Words   |  7 PagesQinyue Ban Prof. Scala WRI 102 14 Nov. 2014 Cancer and Psychology The common argue which in medical area is the scientist’s keen to research about the relationship between the cancer and psychology. Cancer is comment disease, also as known as malignant tumors, has become a threat to human health and life of common disease, even become a major case of human death. Cancer occurred for any age, race, and gender. The reason and the result of the cancer are different because of the diverse of populationRead MoreSimilarities Between Positive Psychology and Coaching Psychology1278 Words   |  5 PagesPositive Psychology and Coaching Psychology: Positive psychology and coaching psychology have certain similarities with regards to their development as responses to the status quo of the field. The status quo was deficit-based, pathology-focused, and based on essential assumptions regarding human nature. These fundamental assumptions were largely less than positive, especially when examined from a rational perspective. As responses to the status quo, positive psychology and coaching psychology areRead MoreThe Downfall Of Positive Psychology1654 Words   |  7 Pages The Downfall of Positive Psychology In Schrank’s â€Å"Positive psychology: An Approach to Supporting Recovery in Mental Illness† he discusses the definition, history, research, and psychotherapy that is involved with positive psychology. There are multiple definitions that psychologists have developed for positive psychology that stem from six core domains which are â€Å"(i) virtues and character strengths, (ii) happiness, (iii) growth, fulfilment of capacities, development of highest self, (iv) good lifeRead MorePsychology : Psychology And Psychology1627 Words   |  7 Pagescovers the many questions we may have about psychology. It starts with the history and how it has changed throughout the years. It covers some of the many subfields and jobs you can have as a psychologist. It also covers the four big ideas that are associated with psychology. There are many more topics and sub-topics that will be covered within this paper on chapter 1. Section 1-1 Psychological Science is born: This section shows how the heart of psychology changes over time. In 1879, at a germanRead MoreThe Diverse Nature Of Psychology1157 Words   |  5 Pages The Diversity Nature of Psychology Anna Van Norton PSY/490 June 29, 2015 Dr. Edna Foster The Diverse Nature of Psychology Psychology is a diverse area of study; it is not an easy task. The field of psychology is so diverse and is always changing and evolving. Because of the always expanding of nature, there is not just only one theory that can explain and answer all of the questions that are associated with psychology. Psychology has always been defined by its diversity. It is theRead MoreThe Profession Of Counselling Psychology1582 Words   |  7 PagesIntroduction The profession of counselling psychology has developed hugely during the past decade, this paper aims to provide a concise and general exploration of the nature of counselling psychology, it’s development history, where it stands among other traditional approaches, and how disciplines of psychology is linked with a range of models of psychotherapy. In 1982 counselling psychology started developing as a section within the British Psychological Society, and in 1994 it was then recognizedRead MorePsychology : Psychology And Psychology Essay784 Words   |  4 PagesSince the time of psychology’s origins in the 1500 s where Leonardo da Vinci s stated that there might be a relationship between the human brain and a person s psychological processes, psychology history and research has grown tremendously over centuries. Some of the most important events in psychology includes: William Wundt creating the first psychology lab in Germany to the American psychiatric Association (APA) publishing the first Diagnostic and Statistical Manual of Mental Disorders (DSM)Read MorePsychology : Positive And Negative Psychology1645 Words   |  7 PagesPositive psychology, is a new field of psychology that draw heavily on humanist influences. This area of psychology places its focus on understanding how to enhance our lives by studying wha t produces our happiness through the use of scientific methods to understand how this affects us leading healthy, happy and successful lives. Through the belief that society would like to lead meaningful and rewarding lives the goal of positive psychology is to, in addition the other fields of psychology, accompany

Effective Risk Management Signal Virtue Based Leadership

Journal Article #3 The third journal article reviewed was Can Effective Risk management Signal Virtue-Based Leadership? The abstract discusses how it is believed the effectiveness of risk management is centered on leadership virtue and governance. In addition, the abstract discusses how risk management is a continuous process. There are numerous risks occurring every day that threaten the welfare of the world and government. The government faces these risks on a daily basis, whether it is social unrest, cyber-attacks, or natural disasters. It is important for not only the government but also other businesses to put in effective risk management tools in order to continue operating a daily business. The purpose of the journal article is to find the different factors that drive company executives’ view on the national government’s ability to manage, mitigate, and respond to global risk. It is viewed that both governance and leadership are significant factors with the government’s ability to management global risks. The categories of the Literature Review are (1) The Rise of Risk Management as a Governance Issue, and (2) Leadership Before Governance. The different sources referenced in the Literature Review are Almquist et al, (2012), Williamson (1996), RiskCover (2011), Aguilera Cuervo-Czurra (2009), Johnston (2004), Hoyt Liebenberg (2011), Kunreuther et al, (2013), Mongkol (2011), Levy et al (2010), Stevulak Brown (2011), Paine (1994), Whetston (2005), andShow MoreRelatedThe Ethics Of An Organization2061 Words   |  9 Pages Leadership is a prerequisite for producing an ethical corporate culture. It represents a relationship between a leader and his subordinates within an organization and it describes how individuals should or ought to conduct themselves in that organization. Ferrell, Fraedrich Ferrell (2015) define leadership as â€Å"the ability or authority to guide and direct others toward a goal† (p.311). Leadership has a significant impact on ethical decision making because leaders have the power to motivate othersRead MoreEthical Leadership Is The Process Of Motivating Employees2664 Words   |  11 PagesEthical Leadership is the process of motivating employees through values, principles and beliefs that significantly border on the conventional norms in the organization. It reflects the dimensions of organizational leadership; conduct and culture with the chief responsibility of leading the organization by making ethical decisions that fundamentally influence the attitudes and interaction s of employees. The core function of ethical leadership is to create codes and doctrines that motivate employeesRead MoreEssay about The 2008 Financial Crisis3160 Words   |  13 Pagespublic accusation that the 2008 financial crisis was caused by a â€Å"crisis of character† in their industry by actively seeking candidates of integrity and character? There are two components to this research question: The first draws on strategic management research and the notion of organizational legitimacy and to what degree organizations operationally respond to public opinion; the second is the concept of â€Å"character,† what it means, how it is conceptualized, measured and operationalised throughRead MoreStrengthening The Homeland Security Enterprise Through Intelligence Reform And Integration7443 Words   |  30 Pagesthe fight against terrorism, in light of recent security failures throughout the many subcomponents of DHS, senior leadership as a whole must identify ways to improve the agencies structure, methodologies, and intelligence integration. In order to better integrate numerous homeland security and intelligence agencies to generate more useful, actionable intelligence, senior leadership throughout the Department of Homeland Security must systematically restructure Department of Homeland Security componentsRead MoreLim itation of Trait Theory12233 Words   |  49 PagesLeadership can be defined as a process by which one individual influences others toward the attainment of group or organizational goals. Three points about the definition of leadership should be emphasized. First, leadership is a social influence process. Leadership cannot exist without a leader and one or more followers. Second, leadership elicits voluntary action on the part of followers. The voluntary nature of compliance separates leadership from other types of influence based on formal authorityRead MoreLeadership Do Traits Matter Essay7548 Words   |  31 Pages) Academy of Management Executive, 1991 Vol. 5 No. 2 Leadership: do traits matter? Shelley A. Kirkpatrick and Edwin A. Locke, University of Maryland Executive Overview The study ot leader traits has a long and controversial history. While research shows that the possession of certain traits alone does not guarantee leadership success, fhere is evidence that effective leaders are different from other people in certain key respects. Key leader traits include: drive (a broad term which includesRead MoreScada5426 Words   |  22 Pagesfor the implementation of security in these systems. 2. Introduction: Supervisory Control and Data Acquisition systems are basically Process Control Systems (PCS), specifically designed to automate systems such as traffic control, power grid management, waste processing etc. 3. Application Control systems are used at all levels of manufacturing and industrial processing. A manufacturing plant that employs robotic arms will have a control system to direct robotic arms and conveyor belts on theRead MoreRecent Trends in Hrm8914 Words   |  36 Pagestrends in human resource management† Session: 2009–11 Presented at [pic] [pic] [pic] Submitted By: - Submitted To:- Bhawana Soni Mr. Rajat Mendiratta MBA II Sem. Acknowledgement The beatitude, bliss euphoria that accompany successful completion any task would not be completed without the expression of appreciation of simple virtues to the people who made itRead MoreThe Sustainable Century By Design Or Disaster9705 Words   |  39 PagesIntroduction – The Sustainable Century†¦ or not ............................................................... 3 Chapter One - Market Signals – The Lifeblood of Sustainable Capitalism ..................................................................................................................................... 12 Listening to a Sustainability Market Signal Moment ..................................................................... 16 Conflict Free Oil? ..................................Read MoreThe Sustainable Century By Design Or Disaster9705 Words   |  39 PagesIntroduction – The Sustainable Century†¦ or not ............................................................... 3 Chapter One - Market Signals – The Lifeblood of Sustainable Capitalism ..................................................................................................................................... 12 Listening to a Sustainability Market Signal Moment ..................................................................... 16 Conflict Free Oil? ..................................

Ferguson’s Career Guidance Center Free Essays

Career Choices in the Health Field Over the past few decades, medical professions have become increasingly more popular. The health system has evolved and health careers are at an all time high; creating several different paths and opportunities in the health field. It is no surprise many would want to choose a career with optimal advancement opportunities. We will write a custom essay sample on Ferguson’s Career Guidance Center or any similar topic only for you Order Now Mark Sullivan, a famous author, once wrote, â€Å"To find a career to which you are adapted by nature, and then to work hard at it, is about as near to a formula for success and happiness as the world provides.One of the fortunate aspects of this formula is that, granted the right career has been found, the hard work takes care of itself. Then hard work is not hard work at all. † This quote exudes how even though the road in one’s career path may be tough, if one chooses a career one is passionate about, then the work load will be lightened by what one loves. When considering a career in health care, it is important to examine the different angles involved. For example, a career in physical therapy and naturopathic medicine can be compared and contrasted by income, education and responsibilities.At an early age, people begin thinking about their professions; as they grow, their calling often changes. Income becomes a key factor in the decision making process. Although bringing home a high income is sought after by many individuals, finance is a necessity in order to survive. According to Ferguson’s Career Guidance Center, â€Å"Physical therapists earned an annual average salary of $72,790. The lowest earned less than $50,350, the top earned $104,350 or more a year† (â€Å"Physical Therapist†). In reviewing naturopathic physician’s salaries, Dr. Melissa Bradwell says, â€Å"85,000 is an average annual salary for a naturopath.A naturopath just starting out might only make $45,000 a year. But an established naturopath with a successful practice might bring in $250,000 to $300,000 annually† (â€Å"Naturopath†). Despite the higher income potential for naturopaths who have a successful practice, it would appear that both of these careers have an abundance of wiggle room when it comes to salary. On average, one could earn a comfortable living in either career. Considering most professional careers in the health field involve the professional being held responsible for another person to some sort of varied magnitude, educational training is a requirement.Choices Explorer informs that, â€Å"Physical therapy deals with human anatomy and biology, physiology and physics† (â€Å"Physical Therapist†). When researching naturopaths, Ferguson’s Guidance Center reports a, â€Å"†¦program requiring courses in anatomy, physiology, biochemistry, and other basic medical sciences. Students must also take courses in nutrition, botanical medicine, homeopathy, naturopathic obstetrics, physiological medicine, and minor surgery† (Naturopaths†). Whereas, both careers have rigorous training especially in the sciences, naturopaths would be required to take additional classes in order to complete their training.It is apparent these two particular careers command a stringent course outline that would entitle an academically committed student. In conjunction with income, and education, come responsibilities. It is more often than not, people choose a career with out knowing what is circumstantially expected of them. Ferguson’s Career Guidance Center conveys that, â€Å"Physical therapists, are health care specialist who restore mobility, alleviate pain and suffering, and work to prevent permanent disability for their patients† (â€Å"Physical Therapist†). Another element of importance is pointed out by Choices Explorer, â€Å"You may have to kneel, stoop, bend, lift, crouch and stand for very long periods of time (â€Å"Physical Therapist†). On the contrary, Ferguson’s Career Guidance Center informs that naturopaths â€Å"†¦provide complete diagnostic and therapeutic services. Patients consult naturopaths for a variety of health problems, including digestive disorder, chronic fatigue, asthma, depression, infections, obesity, colds, and flu† (â€Å"Naturopaths†). Both careers are aiding in ones health, but naturopaths are able to handle all aspects of health related problems.Out of the several career choices in the health field, both of these offer an adequate salary and call upon a vast amount of knowledge in the sciences. When making a decision between the two, it is the day-to-day interaction these two professionals have with their patient that makes a difference. Physical therapists are going to be working closely with a patient on overcoming a physical barrier, and they will need to bring their own physical attributes to the table in order to reach their progressed goal. This career is best suited for individuals who are physically fit, and do not mind standing for long periods of time.In contrast, naturopaths will be working with patients on a varied range of health problems, they will be doing this in a holistic manner. Choices Explorer puts forth, â€Å"They avoid treating symptoms alone. Instead they look for array of imbalances that might be causing the symptoms† (â€Å"Naturopath†). This career is best suited for individuals who have a broadened perspective on medicine and do not limit themselves to the traditional medical theories. Despite the different responsibilities, both of these careers share a common objective, and that is the opportunity to heal. How to cite Ferguson’s Career Guidance Center, Papers

Effects of Evaluation and Monitoring of Ecde Programmes free essay sample

The researcher will attempt to investigate the background information, statement of the problem, purpose of the study; objective of the study, significant of the study, limitation of the study and delimitation of the study. The period between 0-6 years is also referred to as formative years. According to guideline series (2006) children are extremely dependent on the people for life sustaining support for example in provision of food, shelter, clothing and attention. Through interaction, punishment and rewards children turn to be individuals whom teachers, parents and other care givers want them to be. This period is very important for children because it is the foundation of their total life. Experiences of these years continue to influence the individual throughout life. It is also a period of the fastest growth and development in all aspects. The brain of the child is most malleable at this stage and hence influences such as care have greater impact. We will write a custom essay sample on Effects of Evaluation and Monitoring of Ecde Programmes or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page It is therefore very important to invest in early years of a child because research findings show that holistic development of an individual is during thee years Ragor(2008). Most recognized psychologist like Freud and Piaget came up with their theories after many years of observing infants in their formative years. In the united states of America(USA), the CCB is dedicated to enhancing the quality and affordable child care services for all families that was according internet(July 2001). CCB administers federal funds to states territories and tribes to assist low income families in accessing child care service while parents participate in education or training activities. CCB also funds a network of Technical Assistance projects that promote quality and strengthen programme administration. It also shares research findings and help policy makers, programme administrators, communities, caregivers and parents to understand and make good decisions about child care. In Mauritius ECDE is under the Ministry of Women Rights, child development, family welfare and Ministry of Education. 0% of pre-school are run by the state. In 1998 Ministry of Education Acts put the teacher pupil ratio of 1:19. The sector is dominated by untrained caregivers with no minimum qualification. There are three types of staff for example school directors, teachers, and assistant teachers. Teachers have a general education of specific training for pre-school teaching provided by credited Mauritius institute of Education. Teachers and their assistants are paid by the government. Teachers, helpers, learners and auxiliary staff are paid by Parents Teachers Association (PTA). The researcher found that in Kenya after independence the government got directly involve in education activities of young children. Nursery schools and Day-care centres were established. They became directly under the Ministry of Health and Home Affairs. These ministries inspected schools that were stated at that time. The responsibility was later shifted to the Ministry of Education. Many seminars were held which covered all areas including co-ordination, supervision, provision of materials, research and sources of finance. Training programmes were organized for trainers and supervisors so that they could monitors and evaluate ECDE programmes in the grassroots level. However currently according to Ngaroga(2006) the government to contributed to the current expenditure on early childhood development education (ECDE) is 0. 1% where as the primary education is free. At the county level, the ECDE teachers are employed and paid by different employers namely community, parents, local authorities or Faith Based Organizations (FBO). This combination of emotional security and stimulation does not just happen. Those developing and implementing curriculum should bear in mind the ways in which they will create these. Active planning of good routine and activities as well as toys and equipment that will encourage children to play and explore is fundamental. Teachers, caregivers and parents ought to have knowledge skills and attitudes towards helping children to acquire them. Despite government vision to have education for all by the year (2015), quality education has never been realized since the ECDE sector has not been given the attention it deserves. Ngaroga(2005) states that little has been done about educational assessment which should be conducted by various professionals in order to establish the educational needs of the child. This involves very thorough examination of the child in relation to the capabilities and handicap the child is identified to be having. This assessment involves various personnel in different fields. Evaluation and monitoring motivates the learner and measures his or her achievement of the intended objectives and progress. It also enables teachers to give an objective report of an individual child’s performance and determine the usefulness of the method used in teaching children. Thus provides the basis for improving educational programmes.

Better writing for nurse managers - Emphasis

Better writing for nurse managers Better writing for nurse managers When most people think of Leonardo da Vinci, they think of him as the artist who painted The Mona Lisa and The Last Supper. But da Vinci was also an inventor, an architect, a musician and an engineer. To be successful as a nurse manager, you need to adopt da Vincis Renaissance approach. Aside from your main leadership role, you also need to be a resource allocator, go-between, disturbance handler and innovator. Unfortunately, there is no definitive manual for managing these roles. And being in charge of people, policy and paperwork can sometimes be a case of trial and error. But honing your written communication skills can go a surprisingly long way to making things run more smoothly. For example, it can help you persuade people to see your point of view, clarify complex issues, or simply write instructions that people actually read and follow. Here are seven ways to turn writing into a powerful health-management tool. One Listen carefully to your team to ensure you fully understand their problems and issues. Then brainstorm your response using the headings who?, what?, where?, when?, and why? before you write it. This will help you clarify your main message so that your writing is clear and concise. Be sure to look at all your options and dont just choose the first one that comes to mind. Two If you foresee that an issue will be challenged or youll be questioned for more information, prepare a detailed explanation. Use the Four Ps technique, which stands for: position (where they are now), problem (why they cant stay there), possibilities (where they could go) and proposal (where they should go). Three Avoid playing office politics and dont mislead the reader in any way. Use jargon only if youre certain your readers will understand it. And use the active voice to make your writing more specific. For instance: we are implementing a new shift system is more effective than a new shift system will be implemented. Four Widen the reader audience when necessary, to make sure you address all problems and everyone understands the context. Email is often a good vehicle for this. But beware of copying too many people in on mass emails. And avoid heresay or writing as if youre chatting on the phone: email is a permanent medium covered by the law of libel, so you should write only what you dont mind being broadcast on the 10 oclock news. Five Enlist the help of other departmental services (such as legal and human resources) to review your writing when appropriate. Make sure you write only things you believe in, and that youre willing to be accountable for. Six Ensure facts and figures are as accurate as possible. Even it takes 24 hours to obtain figures you dont have, its worth spending the extra time to ensure you build a reputation for accuracy. (Dont let waiting for the fact hold up the writing process though: just put [To come] in the text and come back to that bit once you have the details.) Seven Finally, coach your staff to become better writers, so that your time as a manager is spent effectively. Theres a host of free online writing resources at emphbootstrap.wpengine.com to help you. If you decide to traing your staff, see our courses for individuals or our courses for groups. Alternatively, send us a message or call one of our friendly advisors on +44 (0)1273 961 810 Good writing may not always come easily at first. But with practice, it can become second nature. And once it does, it may well be the glue that holds your da Vinci set of roles together. Robert Ashton is the Chief Executive of Emphasis.

Serpent handing Essays

Serpent handing Essays Serpent handing Essay Serpent handing Essay The book contributes greatly to the society in different ways. The major is a learning tool for Universities. The Archives of Appalancha at East Tennessee universities contain approximately 100 audio tapes and 50 video tapes on serpent handling services. The author according to me pays much attention to spiritual concerns other than the social change. The dynamic theory used to argue for the University of the Serpent as a means of body projections is directly related to death and resurrection.Despite the current modernization even in religion, the development of charismatic practices, some part of the United States is very strong on holiness sect. they are still practicing and following sings such as serpent handling. Although not all holiness sects handle serpents it is indeed an important act as described in mark 16:17 – 18.The Author focuses on Saylor family to illustrate the evolution of the snake handling movement which intensified as the economy and lifestyle of the Appa lachian Mountain Region moved from Agricultural subsistence to Industrial capitalism.

See details Essay Example | Topics and Well Written Essays - 2250 words

See details - Essay Example However, when the Spartans staged a war against the Athenians, the Athenians managed to win against them with an army three times less than theirs. The victory of the Athens against the Spartans won the state a lot of respect form other Greek states. However, it was the rise of the Persians and their conquests against the Greek states and islands that prompted the formation of the Delian League. The formation of the League promoted Athens’ struggle to conquer the Persia. Many things did not go as planned after the formation of League, with Athens hijacking the leadership and control of the union. The activities of the Athens in the leadership of the League prompted the question, were Athens trying to genuinely make a united government under their leadership to promote a better defence against the Persian threat or were the Delian League just an attempt by them to create a Thalassocracy. According to various studies, the Athens was angry for power. Little did they consider the interests of other cities. The Persian threat, although having been key to the formation of the government, in a big way, it was not the main interest of the Athenians. There was more to the unity, as the various scholars suppose. If the Athenians were after uniting the various cities into the Delian League, they would have allowed independence to various states forming part of the league. However, the exercise of supremacy by the Athenian power indicated their intentions to create a Thalassocracy. The forceful pulling of the various groups into the League by the Athens, and intimidating means it used to draw the members into the league was proof enough that Athens was not interested in uniting them into the common interest that united them against Persian. This paper seeks to justify that the reasons why Athens formed a united government under their leadership was not to promote a better defence against Persian invasion, but the Delian League was an attempt to create a Thalassocrac y. In explaining whether Athens was genuinely making a united government under their leadership to promote a better defence against the Persian threat, reasons for the formation of the Delian League are discussed. The Delian League as an organization was established in the early 5th Century BC by several Greek states. The main reason why these states formed the league was to defend them against Persian invasion. They had defeated the Persians in the Greaco-Persian wars, and an alliance of several states against them was the best way to ensure immunity (Spielvogel 78). Uniting against a common enemy made states stronger. They created a strong army by bringing the best men together to form one common army. They would also enjoy the best leadership and command from a single source. The unity would also ensure that the states shared a common interest, making them even stronger. Although they had earlier defeated the Persians, its Empire was still powerful. Besides, the reason for the le ague was to get a little payback for the devastation the member states had suffered in the hands of the Persian forces (Duiker and Jackson 103-104). The common interest between Greek forces united together states consisting of Athens and Greek from Ionia, the Hellespont of the besieged Sentos, a city previously held by the Persians. As a result of this, the Greek fleet under the command of   Pausanias who was a military commander from Sparta, sailed to

Professional Liability Essay Example | Topics and Well Written Essays - 1000 words

Professional Liability - Essay Example In case the patient or his relatives, friends suffer a loss due to the negligent deed of the professional they can seek a civil claim to compensate for the loss. This is called professional liability. The online Medical dictionary offers the following definition of professional liability: this is the legal obligation of health care practitioner to recompense patients for causing damage or suffering by actions of omission. Professional liability is characterized by the responsibility of the healthcare professional to the patients for malpractice. It has become common in the medical profession to have insurance for negligence. I believe it should be obligatory for every nurse to protect her career by purchasing an insurance coverage. In this way she will be protected from the cost of legal and board of nursing actions. No nurse starts her education having in mind the malpractice lawsuits. Even when she begins practising this is not something she would like to think about. All nurses go into the professional with a profound dedication and commitment and with the genuine desire to help and serve people. However, as much as I don’t want to admit it, there is a certain risk involved in healthcare occupations, which stems mainly from the fact that the nurse is a licensed healthcare specialist. What should not be underestimated is that any nursing professional can be held liable and sued for negligence, regardless of how competent they are. Below are few examples under what circumstances a nurse can be sued: If a nurse makes a mistake while monitoring a patient, (or even if someone else accuses you of this); Someone admits a nurse has made an error in recording or reporting patient’s healthcare details and history; A doctor asserts that a nurse misinterpreted the directions he gave; A patient or his family/relatives admits the nurse did not delivered adequate care to the patient; If a nurse is off duty and she assists someone with an injury or any other h ealth problem and they make a claim for negligence; A nurse can also be prosecuted if someone under her superintendence makes a mistake. In addition, if the hospital or the doctor is sued instead of the nurse, both of them can amend and sue the nurse in return. It is not an easy situation and once the nurse has been prosecuted she might be required to go to court. From there, if the jury decides that the nurse did not indeed implement the â€Å"established nursing procedures† she can be held liable for thousands. This can happen even if the jury has no clue about nursing and the nurse will be criminally responsible for her deeds. I think nurses should be advised at universities about the risks of their profession and this should not be done to scare them, but to inform them and create self-consciousness. New nurses have to enter the profession with their eyes open and be aware that the more they know about the â€Å"small pitfalls† of their field the more capable they will be to act and react within the law and protect themselves against potential prosecution. Most hospitals provide individual or collective professional liability insurance coverage if the nurse is licensed healthcare representative. Some nurses prefer to buy supplement to the employer’s insurance coverage for their own personal reassurance and protection. One of the ways to proactively avoid or prevent negligence is to discipline nurses. Iyer (2001) says that the board of nursing may reprimand, give

Information technology in business Essay Example | Topics and Well Written Essays - 500 words

Information technology in business - Essay Example unications CEO Richard Levick, Forrester;s George Colony, History Factory’s CEO Bruce Weindruch blog to reflect their online personality and the company’s culture. With less barriers to entry and minimal risks, blogging provides a source of livelihood to thousands of bloggers who post excellent content and maintain sincere relationships via forums, commenting, social media, and promoting others, thus reinforcing the popularity of the blog. Bloggers create a platform where they post content advertising companies’ products and strive to create traffic – company counts the number of times the ad has been clicked and pays the blogger at the end of an agreed period (pay per click) (Agger, 189-205). Favorite list of blogs; Treehugger, Copyblogger, Dooce, Basic thinking, and Go fug yourself. These blogs offer customized, science and technology related content that bolster critical thinking and exposes readers to real-life issues in the managerial and social environment. Copyblogger is useful for this course as it provides consummate information on how to be heard online be it in marketing, press responses, idea sharing, and knowledge expansion. Sample contents in Copyblogger can be accessed via https://www.youtube.com/watch?v=x612J-dupn8 The blogging field is controlled through written and unwritten laws where bloggers and firms are forced to ascertain the credibility of their posts and the implications that it might have on the larger online community. This ensures firms do not make unrealistic profits by unfairly duping consumers and that public hurling of abuses is circumvented as violators risk being fined, termination of their blogs, and jail term in extreme cases (Mergel,

Amazon Management Structure

Amazon Management Structure Management and Organization Behavior Introduction Whereas there are divergent views on the subject of leadership and management, the unanimous agreement among leadership experts like Myatt (2013) is that the interaction between managers/leaders and their subjects cannot exist in a vacuum. To fill this gap, several management concepts have been hypothesis over the years ranging from Contingency Theory and Systems Theory, to others such as Trait theory as well as Theory X and Theory Y. for example, Theory X and Y deals with how leaders perceive their employees motivation to work, and how this perception determines how such managers apply power and authority at the workplace. For instance, managers who support theory X believe that workers are naturally unmotivated and hate their jobs. Thus, such managers prefer an authoritarian style of leadership as they believe workers must be pushed to perform.ÂÂ   As we shall see later in the essay, Amazons employees are monitored very closely and strictly because their leaders believe they m ust be pushed to achieve results. On the other hand, managers who support theory Y believe that workers are happy, self-motivated and creative, and that such employees enjoy greater responsibility. Such types of managers allow workers to work freely without interference. According to Miles (2012), each of these leadership philosophies are applicable under unique set of circumstances and cannot therefore be contrasted against one another. Instead, the focus should be on using the relevant facets of each to design a better overall management philosophy that is relevant in the highly dynamic society we live in. One such attempt at understanding organizations and how people within them interact with each other was postulated by Morgan (1997), in his portrayal of organizations as political systems. In this regard, the Author posits that the levels and nature of political activities in organizations are determined by the kind of political rule that exists therein (Evans, Hassard Hyde 2013). Using Morgans model, this paper argues that Amazon is founded upon the political typology of management. Amazon.com, the largest E-commerce company is headquartered in the United States. Consequently, the analysis is based on an article published in the New York Times that offers an insight of what it means to be an employee at Amazon. Based on the personal anecdotes given by past and present workers at the firm, the essay will confirm the existence of all the six varieties of political rule as discussed in the subsequent paragraphs. Autocracy This refers to a situation where an individual or a small group of people within an organization hold absolute power (Grey 1999). This is made possible by the fact that the individual or group controls all the critical resources, holds considerable ownership rights, or is favored by the organizations traditions. Morgans view on the autocratic model is supported by other authors like Vellnagel (2013 p.5) who argues that autocratic or authoritarian leaders are known to employ the use of charisma as well as other personal privileges. He adds that Autocratic leaders view their positions as transcendent and therefore beyond reproach. As can be noted from the article on Amazon, there are certain incidences that point to an autocratic leadership model. For example, the company reportedly fires workers who fail to adapt to the companys corporate philosophy every year in what they term purposeful Darwinism. These lay-offs are ruthless as they target even those who suffer medical illness witho ut giving them time to recover (Kantor Steitfeld 2015). Similarly, autocracy manifests itself in the fact that the founder, Jeff Bezos, still runs the company and dictates the management philosophy although being a huge publicly traded company worth $250 billion. Based on one account from a former employee, Bezos enforces his Articles of Faith philosophy ruthlessly as he considers them a moral benchmark against which everything is to be measured. Moreover, the companys leadership exercise tight control on the flow of information by authorizing only a few senior managers to speak to the media meaning there is little room for freedom of expression with people outside the company. Perhaps the most ideal evidence of autocracy was witnessed from the incident where workers packing boxes were made to work in 100 degree heat without air conditioning and this continued even as some of them passed out. The situation only improved when the story received media coverage. In the last paragraph of the article, it is apparent that Amazon notifies its ca ndidates during job interviews that they either fit the profile or they dont (Kantor Steitfeld 2015). In other words, they have to embrace the Amazon way or leave, a pointer to the outright autocracy. Bureaucracy As noted by (Merz 2013 p.3) while discussing Max Webers theory of bureaucracy, the bureaucratic organization of activities is the hallmark of modernity, a view restate by Morgan when he consider that bureaucracies are based upon rational principles. In addition, bureaucracy refers to the leadership exercised through based upon a set of written words with little room for flexibility. Just like autocracy, bureaucracy is manifested in the management of Amazon based on some of the existing guidelines for employees. The first indication of bureaucracy is seen in the fact that the flow of information is extremely controlled with only a handful of senior management staff authorized to speak on behalf of the company meaning one has to follows a lot of convention to get any information about the company. Moreover, Amazons bureaucracy can be seen in the leadership principles drafted by the founder which dictates how employees should act. Whereas other technology-based companies allow some elem ent of flexibility in their workplace, Amazon drills its rules to both existing and potential workers meaning there is little room for flexibility. Another area where bureaucracy is evident comes from the companys performance improvement plan-a program aimed at putting non-productive workers on notice by administering close supervision to their daily tasks (Kantor Steitfeld 2015). Whereas this is a valuable tool for monitoring or increasing productivity, the model used at Amazon is rather inflexible as workers are punished indiscriminately without taking time to determine the causes of reduced productivity. As can be noted from the accounts of various workers who have fallen victim to the program, failure to meet set targets is most caused by unavoidable circumstances such as ill health (Kantor Steitfeld 2015). Whereas the company is aware of this glitch in their program, it is apparent that senior management has shown little willingness to adjust their performance management policies to consider these factors. Technocracy In this regard, Morgan claimed that authority is exercised through application of knowledge, power of experts, as well as the capacity to generate solutions for common challenges. Other experts like Olson (2015) concur with this view arguing that leadership under technocracy is appointed based on specialized knowledge or expertise. Based on the Amazon corporate philosophy, this is perhaps the most distinct mode of political rule. For instance, the companys founder relies on data-driven type of management. In this regard, Jeff Bezos has extreme confidence in the power of metrics, and this philosophy was influenced by his earlier responsibility at D. E. Shaw in the early 90s whereby the use of algorithms disrupted what was being used by Wall Street at the time. In addition, the application of technocracy to generate solutions can be seen in the companys policy that requires all workers to display ownership by mastering every aspect of their business. Amazons employees are to explore is sues deeply and come up with creative knowledge-based solutions that will help solve customers problems (Kantor Steitfeld 2015). One example of this can be seen as the company is breaking down its technological boundary to come up with new innovative ways to deliver to their customer i.e. package delivery by drone and automated resupply of toilet paper. These ideas are all generated by the companys employees as part of what is expected of them. Based on the account of other workers, Amazon has been rather fast in responding to changes which everybody else in the workplace is just beginning to experience. As summarized by a former personnel officer at the company, data allows the company to continuously monitor individual performance. In this regard, most of the past and present employees at Amazon consistently agree that the company has the technological edge and represents where others would like to be in the future. Co-determination This refers to a type of political rule that involves opposing parties that come together to as one to manage projects that are of mutual interests (Grey 1999). In this regard, each party draws upon a specified power base. Whereas the senior authority or power at Amazon remains largely centralized, there are components of the organization, especially at the lower levels, where the concept of co-determination is evident as can be seen from the accounts of the past and present employees. For example, the Anytime Feedback Tool is a gadget that exists in the company directory with the objective of making it possible for workers to interact with the management team about the progress, or lack of their colleagues (Kantor Steitfeld 2015). While these tools can be used by a section of employees to settle personal scores with their colleagues, it is also a valuable tool as it creates two centers of authority in the workplace. Essentially, the employees from opposing teams can decide to unite to execute projects of mutual interests as opposed to having a go at one another. Direct democracy In this mode of political rule, everyone within the organization has the right to participate in making decisions at any one given time regardless of their title or job designation (Morgan 1997). More importantly, Kane and Patapan (2012) believe this type of political rule encourages workers to take initiative and self-organize as opposed to waiting for instructions on even incidental matters. As can be noted from the example of Amazon, there are several instances that demonstrate the existence of direct democracy. For example, it is Amazons policy to allow workers of all staff to tell each others ideas during meetings without fear of being blame by someone because the companys founder is a strong believer that this free exchange between workers breeds creativity (Kantor Steitfeld 2015). As noted by experts, direct democracy is critical in technology based companies because strict and conservative atmosphere restrain creativity. Thus, Amazon allows even the junior workers to make major contributions as can be seen from the companys development of the delivery-by-drone concept which it made public in the year 2013. Essentially, this project was reportedly a brainchild of one of the lower subordinate engineers called Daniel Buchmueller (Kantor Steitfeld 2015). Another example of direct democracy at Amazon can be seen from the companys use of the Anytime Feedback Tool. Whereas employees whose details are sent to the management team may not be aware of who recommended or criticized their work ethic, it offers every single employee an opportunity to speak their minds about issues or people freely. This tool may also be handy in giving honest feedback about the work environment or conditions to the management. As mentioned earlier, Amazon employs a form of social structure that involves the competition of workers ideas and the best of these win. During this time, workers are encouraged to challenge one another freely. This cherish the feeling of fairness as the workers believe anyone of them has a chance to advance since promotions and other forms of rewards are given on the basis of merit with no favoritism. More importantly, employees are confer the opportunity to defend their colleagues if they feel such workers are being criticised unfairly. As can be noted from the article, the various line supervisors are given time to prepare their case which they can then use to defend members of their teams that are just about to get laid off (Kantor Steitfeld 2015). Conclusion This essay wanted to demonstrate that Amazon, through its founder Jeff Bezos employs the various mode of political rule in running the worlds largest E-commence business. My analysis was based on an article carried in the New York Times detailing the experiences of both past and present workers at the company. Consequently it emerged that Amazon uses Autocracy, bureaucracy, co-determination, technocracy as well as direct democracy in various aspect of the organization. With regard to autocracy, it is possible that the companys employees are forbidden from speaking to the media apart from top hierarchy position. This show just how closely Amazon controls information coming out of the company. Similarly, the workers confessions in the article suggest some level of bureaucracy in the management cycles. For example, the company has certain rules, some of which are obviously counterproductive going by the high number of people leaving the company. However, it is clear that the company is unwilling to change these rules even in the face of these massive turnovers. Besides bureaucracy, there are traces of co-determination at the company as can be seen from the companys policy that makes it possible for workers to work mutually towards their common interests rather than continue to work at cross purposes. The most obvious mode of political rule used at Amazon is technocracy and this is evident in several scenarios. For example, all Amazon employees are expected to master the complicated details of their work as well as the organization as the founder believes the knowledge enables them to solve customers problems better. More importantly, the company relies on performance sets to determine the fate of their employees meaning data forms a big part of the operational philosophy. Overall, Amazons believes is hiring and training the very best as they believe only those with specialised knowledge have the capacity to steer the company to the direction intended by the owner and founder.

Diary Entries for Juliet :: Papers

Diary Entries for Juliet Dear Diary, My time has come, I knew it would come soon, I am soon to be married. I don't know what to do or what to think. When I was told the news my life flashed before my eyes, I saw myself in a loveless marriage, sitting at home in old clothes, slaving over a hot stove all day and looking after the children, what kind of a future is that? Getting married is an honour, because it shows you are wanted and the older you are the less likely you are to get married and your parents will have to look after you. I don't want to disappoint my parents, but I truly feel marriage, at this stage in my life, is not what I want. I am not ready to make such a commitment. The man I am meant to marry I'm to meet at this party my father is throwing. I am supposed to like him, what happens if I don't? Even if I like him, I certainly don't want to marry him. My father, I think, will give me some say in the matter, after all it is my life and he is meant to love and respect me. My nanny is more like my mother, my mother and father weren't around much when I was growing up and I feel a really strong bond between the nanny and I and she will support me whatever I choose, if I get to choose. This party is going to be the worst yet, I'm not even bothered about what I'm going to wear. Also I can't enjoy myself because I know soon I could marry, possibly to someone who is not right for me. Come to think of it I know nothing about this man, how is the marriage supposed to last anyway? HELP! I can hear my mother calling, got to go. Juliet Dear Diary, Romeo, Romeo, I am in love with Romeo, not with the man my dad picked, Paris.

Physiological Adaption Fish Essay

Adaptation of Fish to Its Environment BIO101 March 11,2013 Physiological Adaptation of Fish to Its Environment All organisms around the world are sparsely distributed depending on the environment that best suited to their modes of survival. Organisms undergo adaptation – an evolutionary process where they became well-suited to a particular. The process of adaptation happens through the natural selection, whereby nature selects those organisms that suit a certain habitat and sustain them for successive generation and ones that do not perish, hence the theme of survival for the fittest. The surviving species pass the same favorable features to their generation for their further survival after a progressive reproduction. Physiological adaptation of fish to their habitat depends on what the nature favors to suit them. Below is the illustration of the external and internal features of a fish (â€Å"Internal Salmon Anatomy Worksheet Key,† 2011): Water bodies have a diversity of conditions that enable fishes to adapt to their survival. The physiological adaptation of these animals varies to a particular habitat, and it relates to how their metabolism works to counter the changing environment. Fish metabolic activities seek to regulate their body functions in any opportune change of their environment and adapt to it. To control the body temperature, fishes undergo physiological thermoregulation. The physiological and metabolic activities regulate the body temperature and maintain it by means of countercurrent exchange system. The countercurrent exchange system is one where the hot blood in the blood vessels, as a result of muscular activities, passes along and gives up some heat to the blood in the adjacent blood vessels, which is flowing to the other parts of the body. This way fishes are able to keep warm. Fish also have the survival tactics in areas where water temperatures are on the point of freezing all the year round – like in the Antarctica region. In order to overcome the darkness due to the ice over the water surface, fish have a specialized sensory system called mechanosensory lateral line, which enables them to sense the motion of other animal in their environment and allows them to feed. However, some fish subspecies normally live in the freshwater and in seawater depending on the environmental opportunities that affects their chances to survive (WhyEvolutionIsTrue, 2012). Freshwater fish have a mechanism, which makes possible them to concentrate salt within their bodies in the environment of salt deficiency; consequently, marine fish have the capability to excrete excess salt in the hypertonic environment. The latter as well has chloride cell in their gills, which produce enzyme called gill Na+/K+ATPase that enables them to ride their plasma of excess salt build up when they drink seawater. The enzyme is applied to pump sodium out of their gills using the energy generated from the muscle. Freshwater fish have a physiological mechanism that allows them to concentrate salt and compensate their sanity environment. They achieve the balance of the body and that of the surrounding by producing very dilute, copious urine to rid them of the excess water in their body while taking ions through their gills (â€Å"Fish in Their Environments: Habitats & Adaptation,† 2010). Their adaptation favors their capability to adjust to the changing environment. The swordfish has a modified eye muscle with a concentration of mitochondrion cells. The mitochondrion organelles perform the duty of breaking down of food to obtain energy for normal eye movement and to provide heat for blood going to the brain. The physiological system of fish also operates within a fluid environment despite the change its environment. Osmoregulation in fish aims to get a stable balance of uptake and loss of water and solutes through their excretory organs. Marine fish, for example, bony fishes, are hypo-osmotic to seawater; respond to loosing water in their bodies by osmosis and gain salt by diffusion and from the food they eat. They also take up chloride ions through their skin and gills to balance osmotic condition of their environment. In conclusion, fish, like all other animals, have their mode of adaptation to survive in their habitat regarding the circumstances that occur. They will continue to reproduce passing those adaptations to their next generation. References Internal salmon anatomy worksheet key. (2011, January 14). U. S. Fish & Wildlife Service. Retrieved from http://www. fws. ov/r5crc/salmon/workbook/homework_salmon_anatomy_internal_key. htm Fish in their environments: Habitats & adaptation. (2010, March 3). Earthguide. Retrieved from http://earthguide. ucsd. edu/fishes/environment/environment_zones. html WhyEvolutionIsTrue. (2012, April 11). Parallel adaptation in fish: Same genes used over and over. Why Evolution Is True. Retrieved from http://whyevolutionistrue. wordpress. com/2012/04/11/parallel-adaptation-in-fish-same-genes-used-over-and-over/

Dutchman essays

Dutchman essays Imamu Amiri Barakas Dutchman is a play rooted in symbolism. It can be traced throughout the entire play: the language, the setting, the plot, the movement, the dialogue, and even the title, Dutchman, itself. Baraka does a good job intertwining both the realistic and symbolic in effort to get his theme across. Barakas fierceness and intensity really help to develop the symbolic nature of the play. This symbolism can be particularly seen in the exchanges between the two main characters; Clay, a rather well spoken and reserved Negro and Lula, a disreputable white girl. Immediately, it is obvious that racism and the plight of the Negro are the points or symbolic themes that Baraka is trying to portray. Barakas feelings on this subject are evident in his tone of range and anger. Lula plays a tantalizing and provocative role, constantly fooling around with words of racism and with Clay himself. Come on Clay, lets do the thing...You middle-class black bastard. Forget your social-working mother for a few seconds and lets knock stomachs. Clay you liver-lipped white man. You would be Christian. You aint no nigger, youre just a dirty white man...Thats all you know...shaking that wildroot cream-oil on your knotty head, jackets buttoning up to your chin, so full of white mans words. Lula is a mere symbol of our civilization and particularly the Caucasian society in its ignorance of the black race. But all races are so quick to jump to conclusions and stereotype people without looking beyond their appearance. That is why she is a symbol of our entire civilization, not just one race. Her exhibition with Clay is all a game to her. I do not think she understands the harsh impact of her words, especially to a black man, just as many would not. After a while of Lula tantalizing and provoking Clay during the train ride, Clays fury is unleashed. ...

Octane Service Station Essay Essays

Octane Service Station Essay Essays Octane Service Station Essay Essay Octane Service Station Essay Essay On March 15. Julio Trevino signed a rental understanding to run a gasolene service station that was owned by the Octane Oil Company ( here after. merely â€Å"Octane† ) . Supermex had contacted the regional gross revenues director of Octane in response to an advertizement that solicited appliers â€Å"with $ 25. 000 to invest† to rent and run a freshly erected Octane gasolene service station. Supermex had been able to roll up about $ 32. 000 for investing intents as a consequence of a $ 25. 000 heritage and nest eggs on the wage of $ 865 per hebdomad he earned as director of a service station operated as a separate section of a J. C. Penney shop. Most of this $ 32. 000 was held in authorities bonds. The regional gross revenues director for Octane was impressed with Trevino’s personal and fiscal makings. and after several interviews. a lease understanding was signed. During one of these meetings the gross revenues director informed Trevino that the new station would be ready for tenancy on May 1st at a entire investing cost of $ 300. 000. Of this sum. $ 100. 000 had already been paid for land. and a sum of $ 200. 000 would be spent for a edifice that would be â€Å"good for approximately 40 years† . In discoursing net income potency. the gross revenues director pointed out that Octane’s national advertisement plan and the consumer entreaty generated by the attractive station â€Å"will be deserving at least $ 30. 000 a twelvemonth to you in consumer good will. † The rental understanding stipulated that Trevino pay a lease of $ 1. 250 per month for the station plus $ 0. 04 for each gallon of gasolene delivered t the station by Octane1. A separate understanding was besides signed whereby Octane agreed to sell and Trevino agreed to purchase a certain minimal measures of gasolene and other automotive merchandises for the service station operation. As both grounds of good religion and as a prepayment on certain duties that he would shortly incur to Octane. Trevino was required to lodge $ 20. 000 with Octane at the clip the rental was signed. Trevino raised the hard currency for this sedimentation by neutralizing authorities bonds. Octane used most of this money to defray certain duties incurred by Trevino to the oil company prior to the gap of the new station. The tax write-offs from the $ 20. 000 sedimentations were applied as follow: 1 The rental. which covered a period of one twelvemonth beginning May 1. was automatically renewable unless notice of cancellation was given by either party at lease 30 yearss prior to an anniversary day of the month. The regional gross revenues director of the Octane Oil Company estimated that about 150. 000 gallons of gasolene would be delivered to Trevino’s Service Station during the first 12 months of operations. Subsequently. Trevino’s records revealed that 27. 000 gallons ( including the initial stock list ) were really delivered during the first two months of operation. The equipment. including floor and hydraulic knuckleboness. a battery courser. tune-up sets. and oil and lubricating oil guns. became Trevino’s belongings. A representative of the oil company stated that this equipment would last about five old ages. The unpaid. non-interest bearing balance of $ 10. 300 Supermex owed Octane for equipment was to be paid in five semi-annual installments of $ 2. 060 each. The first such payment was due November 1. The $ 2. 755 staying from the $ 20. 000 originally deposited with Octane was returned to Trevino on April 30. He deposited this money in a particular checking history he had set up for his service station venture. Merely before opening for concern on May 1. Trevino converted some extra authorities bonds into $ 7. 000 hard currency which he besides placed in the service station history. Prior to May 1. he wrote the undermentioned cheques: $ 1. 650 for office furniture that had an expected life of 10 old ages. and $ 900 for a fire and casualty insurance policy supplying coverage for a one twelvemonth period beginning May 1. On April 30. Supermex transferred $ 200 from the service station look intoing history to the hard currency drawer at the service station. It was Trevino’s purpose to lodge in the bank all but $ 200 of the hard currency on manus at the stopping point of each concern twenty-four hours. The balance in the service station look intoing history at the start of concern was. hence. $ 7. 005. In add-on. Trevino had $ 2. 700 in a savings history. On May 1. the service station was opened for concern. In his attempt to construct up patronages. Trevino worked about 60 hours per hebdomad compared with 40 in his old occupation. In add-on. three other people were employed on either a full or parttime footing. Trevino was moderately satisfied with the backing he was able to construct up during the first two months the station was unfastened. At the terminal of June. nevertheless. he felt it would be desirable to take a more careful expression at how he was doing out in his new concern venture. Trevino felt that he should enter his advancement and present place in a signifier that would be utile non merely at the present clip but besides for comparative intents in the hereafter. possibly a six months intervals stoping on June 30 and December 31. Supermex maintained a simple record maintaining system in which hard currency grosss and hard currency payments were itemized daily in a loose-leaf notebook. Separate pages were reserved for specific points in this notebook. During the months of May and June. the undermentioned hard currency grosss and payments had been recorded: The $ 500 listed in hard currency grosss as rental from parking country had been receive from an next concern constitution that used one part of the service station site as a parking infinite for certain of its employees. The rental received covered a period widening from May 15 to July 15. In add-on to the record of hard currency grosss and payments. a elaborate listing was kept of the sums of money that were due from. or owed to. other persons or companies. An analysis of these records revealed that $ 143 was due the concern for gas. oil. and auto service from a affluent widow friend of the Trevino household who preferred to cover on a recognition footing. Besides. on the eventide of June 30. one of the employees completed waxing a auto for a regular client who was out of town and would be unable to name for his auto until July 3. Supermex had quoted a monetary value of $ 56 for this occupation. Supermex recalled that when he one time worked at an car bureau. he had heard that puting up a modesty for bad debts equal to two per centum of all outstanding histories was a good thought. Supermex had besides jotted down the fact that he and his household had used gas and oil from the service station worth $ 101 at retail monetary values. for which no payment had been made. Approximately $ 79 had been paid to Octane Oil Company for this ware. A farther sum-up of his records revealed the undermentioned unpaid measures ensuing from operations in June: The service station’s employees had last been paid on Saturday. June 28. for services rendered through Saturday eventide. Wagess earned on June 29 and 30 would amount to $ 232 in the undermentioned Saturday’s paysheet. Trevino took a physical stock list on the eventide of June 20. and he found gasolene. motor oil. lubricating oil. tyres. batteries. and accoutrements on manus that had cost $ 10. 018. While Trevino was calculating his stock list place. he compared his recorded gallonage gross revenues of gasolene on manus at the terminal of the period against the volume of gasolene at the get downing stock list plus bringings. In this mode. Supermex ascertained that shrinking due to vaporization. temperature alterations. waste and other causes amounted to 302 gallons of gasolene that he estimated had cost $ 360. Late in June. Trevino’s married boy realized that he would be unable. because of drawn-out unwellness to do payment of $ 192 for involvement disbursal and $ 800 for chief refund on a $ 2. 400 bank loan. Trevino. who had acted as co-signer on the note. would be obligated to run into this payment on July 1.

Body Image and Identity Essay Example | Topics and Well Written Essays - 750 words

Body Image and Identity - Essay Example This makes quality interpersonal communication untenable and thus hinders the overall development of the personality. Another important issue that factors in good interpersonal communication is self awareness, which is, how well the person knows their own self. The statement that she makes about herself, "If only I weren't so fat, I could find clothes to fit me like normal people do", shows how she considers herself abnormal. Her experiences as an overweight child and the messages that she has received from the society have affected her temperament and have made her a shy person further deterring her from building good interpersonal skills. Reece seems to also have a hidden fear of facing and expressing her feelings, this fear makes her to shut out her friends during the 'fat days' when she is striving to attain her perceived ideal looks. Instead of making conversation she says "Leave me alone" and leaves the table leaving her friends behind. This prevents her from accepting professional advice or even encouragement and comfort from her friends. In order to improve her interpersonal communication, Reece should focus on her self-concept. By developing a positive self concept her communication will also improve. According to William Schutz, communication fulfills the three basic needs of inclusion, control and affection. By being aware of her needs, Reece can open up to her friends instead of shutting them out and thus open a channel of communication, which can lead to better self awareness and correct her skewed body image. This will also take care of the hidden issue of facing her feelings and her fear of expression. Reece sends negative messages to herself at every turn which further strengthens her unhealthy self-concept. When she looks in the mirror, her mind throws a message at her saying "you are fat, fat, fat". These messages contain ideas about her perceived unattractiveness and a discriminating society. These messages are probably the echo of her previous experiences and thoughts that were passed on to her through media and influential people in her life. Reece can make a conscious effort to send positive images to herself. This exercise will aid the unlearning of ideas she has already woven into her personality and make it easier to transform her body image and identity, and thus improve her communication. In order to do this she should also consciously isolate distorted feedback that the other person sends during conversations. By doing so Reece can prevent further damage to her body image. This means that she should be aware of the responses from people and be able to determine which o nes will influence her and which ones she should ignore while trying to understand in which way she has stimulated that kind of response. Both verbal and non verbal communication plays a role in how others respond to us. It is important to consider posture, gestures and facial expressions while evaluating responses. Effective solution to interpersonal communication involves two persons. There are two major concerns in interpersonal communication, self awareness, which we already discussed, and knowledge of the other person we are communicating with. When there is a higher degree of uncertainty about the responses to be expected from the other person the communication is not open and there is very little self disclosure. This leads the person to become

Churchill, hitler, and the unnecessary war Term Paper

Churchill, hitler, and the unnecessary war - Term Paper Example Germany was also barred from building up large army. Tanks, aircrafts and submarines were also not allowed to be held by Germany. All these steps were deemed to be taken to prevent Germany from initiating any other war. Germany abided by the restrictions imposed by this treaty only by the end of second decade of the 20th century. In January 1933, Adolf Hitler was powered up by the disgruntled and poor people of Germany to take over the throne. The basis of their belief in Hitler was that they wanted a person who might empower Germany again and pull to pieces the unjust and unfair treaty. As a result, Hitler became the Chancellor of Germany. Soon after he became the Chancellor, he started the building up of German forces. He also empowered the German army by equipping it with modern weapons. Initially, all this was done secretly but soon it came to light. However, the Great Britain and France took it lightly. They were of the view that these actions will strengthen and will be helpful in stopping the flourish of Communism in Europe. After having built up the German forces for 2 years, Hitler gave them order to enter into Rhineland in 1936. The reason provided by Germany for this invasion is the threat that Germany was facing as a result of treaty with Russia. So, it became very important for Germany to post its troops in Rhineland. It is also considered by many historians reasonable that as Rhineland was a part of Germany, so, there is no bar if German troops are posted there. However, Germany was very weak at this point and little intervention by Britain or France could have defeated them. However, neither of these two intervened as they did not want to start another war with Germany. Meanwhile, Hitler also stepped forward to make allies with two important countries of Japan and Italy. Later on, Hitler advanced to take back the land of Austria. In March 1938, Hitler ordered German army to march in Austria to occupy the land. Austrian leader was then forced to c onduct a poll to decide whether the people of Austria wanted union with Germany. The results showed the favor of 99% of the citizens of Austria to live with Germany. The Austrian leader asked for help but, on been satisfied from Hitler side, none of Britain and France came to help Austria. Adolf Hitler promised that the union of Austria with Germany will end the aims of expansion of Hitler and he will not move further on. However, breaching his own words, Hitler insisted that the region of Sudetenland of Czechoslovakia should be handed over to Germany. Neville Chamberlain, the then British Prime Minister, met Hitler thrice in September, 1938. Chamberlain was himself of the view that Treaty of Versailles was not just and equitable for Germany. So, he took a soft corner for Germany. Finally, it was decided in Munich Agreement that the region of Sudetenland would be handed over to Germany on the provision of Hitler’s assurance that he would not make claims for any further territ ories. The agreement was mutually decided and signed by German, British, French and Italian leaders. However, Czech government was not involved in the agreement upon which they recorded their protest. However, Hitler occupied whole of the Czechoslovakia in 1939 March. Czechoslovak government asked for help but none of Britain and France intervened in the invasion. However, both of these countries promised that they would take military action against Hitler if the German forces advanced towards Poland. On September 1 1939, German forces occupied Poland

Global Issues- THE USE OF MEDIA FOR POLITICAL PURPOSES Essay

Global Issues- THE USE OF MEDIA FOR POLITICAL PURPOSES - Essay Example Most of the Medias on the other hand claim that they are neutral; but all these claims lie on paper alone. In practice their neutrality seems to be only at the surface level. At the grass root level all the Medias has their own biases towards a particular political party or ideology. This paper briefly explains the use of media for political purposes. Most of the media are money making businesses. In business, the support of the politicians is immensely required in order to develop or sustain a business. Administration of a country is handled by politicians or political parties. Business on the other hand requires lot of administrative supports which is controlled by the politicians. So, politicians can create lots of headaches to the business. Thus the media industry or media business forced to bias towards a political party in order to receive favours from them. Politicians or political parties on the other hand, depend on the service of Medias to convey their ideologies, policies, vision or mission to the public. Medias can make or break a political party because of their immense influence upon the public. They can spread stories, real or fabricated ones to support or oppose the parties whom they support or oppose. Thus both politics and media are running hand in hand and both required the mutual support for attaining their objectives or goals. â€Å"After September 11, CNN ran graphics pronouncing "America under attack" and "War on America". When US forces invaded Iraq, the graphics were "Strike on Iraq" and "War in Iraq". These were simply dishonest terms. It was a "War on Iraq"† (Vanaik, 2005). It was well known to the world within hours from the 9/11 that it was a terrorist attack rather than a war. But CNN has given the headlines that â€Å"War on America† just to sensationalise the issue. CNN tried to over emphasise the issue in order to accumulate support for the future responses of America. On the other hand, while America has started war in Iraq, CNN

Foreign exchange market Essay Example for Free

Foreign exchange market Essay Monetary policy is the process by which the monetary authority of a country controls the supply of money, often targeting a rate of interest for the purpose of promoting economic growth and stability. The official goals usually include relatively stable prices and low unemployment. Monetary theory provides insight into how to craft optimal monetary policy. It is referred to as either being expansionary or contractionary, where an expansionary policy increases the total supply of money in the economy more rapidly than usual, and contractionary policy expands the money supply more slowly than usual or even shrinks it. Expansionary policy is traditionally used to try to combat unemployment in a recession by loweringinterest rates in the hope that easy credit will entice businesses into expanding. Contractionary policy is intended to slow inflation in order to avoid the resulting distortions and deterioration of asset values. Monetary policy, to a great extent, is the management of expectations. Monetary policy rests on the relationship between the rates of interest in an economy, that is, the price at which money can be borrowed, and the total supply of money. Monetary policy uses a variety of tools to control one or both of these, to influence outcomes like economic growth, inflation, exchange rates with other currencies and unemployment. Where currency is under a monopoly of issuance, or where there is a regulated system of issuing currency through banks which are tied to a central bank, the monetary authority has the ability to alter the money supply and thus influence the interest rate (to achieve policy goals). The beginning of monetary policy as such comes from the late 19th century, where it was used to maintain the gold standard. General Monetary policy is the process by which the government, central bank, or monetary authority of a country controls (i) the supply of money, (ii) availability of money, and (iii) cost of money or rate of interest to attain a set of objectives oriented towards the growth and stability of the economy. Monetary theory provides insight into how to craft optimal monetary policy. Monetary policy rests on the relationship between the rates of interest in an economy, that is the price at which money can be borrowed, and the total supply of money. Monetary policy uses a variety of tools to control one or both of these, to influence outcomes like economic growth, inflation, exchange rates with other currencies and unemployment. Where currency is under a monopoly of issuance, or where there is a regulated system of issuing currency through banks which are tied to a central bank, the monetary authority has the ability to alter the money supply and thus influence the interest rate (to achieve policy goals). It is important for policymakers to make credible announcements. If private agents (consumers and firms) believe that policymakers are committed to lowering inflation, they will anticipate future prices to be lower than otherwise (how those expectations are formed is an entirely different matter; compare for instance rational expectations with adaptive expectations). If an employee expects prices to be high in the future, he or she will draw up a wage contract with a high wage to match these prices. Hence, the expectation of lower wages is reflected in wage-setting behavior between employees and employers (lower wages since prices are expected to be lower) and since wages are in fact lower there is no demand pull inflation because employees are receiving a smaller wage and there is no cost push inflation because employers are paying out less in wages. 2. What is a Central Bank? A central bank, reserve bank, or monetary authority is an institution that manages a states currency, money supply, and interest rates. Central banks also usually oversee the commercial banking system of their respective countries. In contrast to a commercial bank, a central bank possesses a monopoly on increasing the amount of money in the nation, and usually also prints the national currency, which usually serves as the nations legal tender. Examples include the European Central Bank (ECB) and the Federal Reserve of the United States. The primary function of a central bank is to manage the nations money supply (monetary policy), through active duties such as managing interest rates, setting the reserve requirement, and acting as a lender of last resort to the banking sector during times of bank insolvency or financial crisis. Central banks usually also have supervisory powers, intended to prevent bank runs and to reduce the risk that commercial banks and other financial institutions engage in reckless or fraudulent behavior. Central banks in most developed nations are institutionally designed to be independent from political interference. THE BANGKO SENTRAL NG PILIPINAS The Bangko Sentral ng Pilipinas (English: Central Bank of the Philippines; Spanish: Banco Central de Filipinas; commonly abbreviated as BSP in both Filipino and English), is the central bank of the Philippines. It was established on July 3, 1993, pursuant to the provision of Republic Act 7653 or the New Central Bank Act of 1993. History In 1900, the First Philippine Commission passed Act No. 52, which placed all banks under the Bureau of the Treasury and authorizing the Insular Treasurer to supervise and examine banks and all banking activity. In 1929, the Department of Finance, through the Bureau of Banking, took over bank supervision. By 1933, a group of Filipinos had conceptualized a central bank for the Philippine Islands. It came up with the rudiments of a bill for the establishment of a central bank after a careful study of the economic provisions of the Hare–Hawes–Cutting Act, which would grant Philippine independence after 12 years, but reserving military and naval bases for the United States and imposing tariffs and quotas on Philippine exports. However, the Hare–Hawes–Cutting Act would be rejected by the Senate of the Philippines at the urging of Manuel L. Quezon. This Senate then advocated a new bill that won President Franklin D. Roosevelts support; this would be the Tydings–McDuffie Act, which would grant Philippine independence on July 4, 1946. During the Commonwealth Period, discussions continued regarding the idea of a Philippine central bank that would promote price stability and economic growth. The countrys monetary system then was administered by the Department of Finance and the National Treasury, and the Philippine peso was on the exchange standard using the United States dollar, which was backed by 100 percent gold reserve, as the standard currency. As required by the Tydings–McDuffie Act, the National Assembly of the Philippines in 1939 passed a law establishing a central bank. As it was a monetary law, it required the approval of the President of the United States; Franklin D. Roosevelt did not give his. A second law was passed in 1944 under the Japanese-controlledSecond Republic, but the arrival of American liberation forces in 1945 aborted its implementation. Shortly after President Manuel Roxas assumed office in 1946, he instructed then-Finance Secretary Miguel Cuaderno, Sr. to draw up a charter for a central bank. The establishment of a monetary authority became imperative a year later as a result of the findings of the Joint Philippine-American Finance Commission chaired by Cuaderno. The Commission, which studied Philippine financial, monetary, and fiscal problems in 1947, recommended a shift from the dollar exchange standard to a managed currency system. A central bank was necessary to implement the proposed shift to the new system. Roxas then created the Central Bank Council to prepare the charter of a proposed monetary authority. It was submitted to Congress in February 1948. By June of the same year, the newly proclaimed President Elpidio Quirino, who succeeded President Roxas, affixed his signature on Republic Act (RA) No. 265, the Central Bank Act of 1948.On January 3, 1949, the Central Bank of the Philippines was formally inaugurated with Miguel Cuaderno, Sr. as the first governor. The main duties and responsibilities of the Central Bank were to promote economic development and maintain internal and external monetary stability. 3. What are the Types of Monetary Policy? In practice, to implement any type of monetary policy the main tool used is modifying the amount of base money in circulation. The monetary authority does this by buying or selling financial assets (usually government obligations). These open market operations change either the amount of money or its liquidity (if less liquid forms of money are bought or sold). The multiplier effect of fractional reserve banking amplifies the effects of these actions. Constant market transactions by the monetary authority modify the supply of currency and this impacts other market variables such as short term interest rates and the exchange rate. The distinction between the various types of monetary policy lies primarily with the set of instruments and target variables that are used by the monetary authority to achieve their goals. Monetary Policy: Target Market Variable: Long Term Objective: Inflation Targeting Interest rate on overnight debt A given rate of change in the CPI Price Level Targeting Interest rate on overnight debt A specific CPI number Monetary Aggregates The growth in money supply A given rate of change in the CPI Fixed Exchange Rate The spot price of the currency The spot price of the currency Gold Standard The spot price of gold Low inflation as measured by the gold price Mixed Policy Usually interest rates Usually unemployment + CPI change The different types of policy are also called monetary regimes, in parallel to exchange rate regimes. A fixed exchange rate is also an exchange rate regime; The Gold standard results in a relatively fixed regime towards the currency of other countries on the gold standard and a floating regime towards those that are not. Targeting inflation, the price level or other monetary aggregates implies floating exchange rate unless the management of the relevant foreign currencies is tracking exactly the same variables. In economics, an expansionary fiscal policy includes higher spending and tax cuts, that encourage economic growth. In turn, an expansionary monetary policy is one that seeks to increase the size of the money supply. Conversely, contractionary monetary policy seeks to reduce the size of the money supply. In most nations, monetary policy is controlled by either a central bank or a finance ministry. In most nations, monetary policy is controlled by either a central bank or a finance ministry. Neoclassical and Keynesian economics significantly differ on the effects and effectiveness of monetary policy on influencing the real economy; there is no clear consensus on how monetary policy affects real economic variables (aggregate output or income, employment). Both economic schools accept that monetary policy affects monetary variables (price levels, interest rates). Inflation targeting Under this policy approach the target is to keep inflation, under a particular definition such as Consumer Price Index, within a desired range. The inflation target is achieved through periodic adjustments to the Central Bank interest rate target. The interest rate used is generally the interbank rate at which banks lend to each other overnight for cash flow purposes. Depending on the country this particular interest rate might be called the cash rate or something similar. The interest rate target is maintained for a specific duration using open market operations. Typically the duration that the interest rate target is kept constant will vary between months and years. This interest rate target is usually reviewed on a monthly or quarterly basis by a policy committee. Changes to the interest rate target are made in response to various market indicators in an attempt to forecast economic trends and in so doing keep the market on track towards achieving the defined inflation target. For example, one simple method of inflation targeting called the Taylor rule adjusts the interest rate in response to changes in the inflation rate and the output gap. The rule was proposed  by John B. Taylor of Stanford University. The inflation targeting approach to monetary policy approach was pioneered in New Zealand. It has been used inAustralia, Brazil, Canada, Chile, Colombia, the Czech Republic, Hungary, New Zealand, Norway, Iceland, India,Philippines, Poland, Sweden, South Africa, Turkey, and the United Kingdom. Price level targeting Price level targeting is a monetary policy that is similar to inflation targeting except that CPI growth in one year over or under the long term price level target is offset in subsequent years such that a targeted price-level is reached over time, e.g. five years, giving more certainty about future price increases to consumers. Under inflation targeting what happened in the immediate past years is not taken into account or adjusted for in the current and future years. Uncertainty in price levels can create uncertainty around price and wage setting activity for firms and workers, and undermines any information that can be gained from relative prices, as it is more difficult for firms to determine if a change in the price of a good or service is because of inflation or other factors, such as an increase in the efficiency of factors of production, if inflation is high and volatile. An increase in inflation also leads to a decrease in the demand for money, as it reduces the incentive to hold money and increases transaction and shoe leather costs. Monetary aggregates In the 1980s, several countries used an approach based on a constant growth in the money supply. This approach was refined to include different classes of money and credit (M0, M1 etc.). In the USA this approach to monetary policy was discontinued with the selection of Alan Greenspan as Fed Chairman. This approach is also sometimes called monetarism. While most monetary policy focuses on a price signal of one form or another, this approach is focused on monetary quantities. As these quantities could have a role on the economy and business cycles depending on the households risk aversion level, money is sometimes explicitly added in the central banks reaction function. Fixed exchange rate This policy is based on maintaining a fixed exchange rate with a foreign currency. There are varying degrees of fixed exchange rates, which can be ranked in relation to how rigid the fixed exchange rate is with the anchor nation. Under a system of fiat fixed rates, the local government or monetary authority declares a fixed exchange rate but does not actively buy or sell currency to maintain the rate. Instead, the rate is enforced by non-convertibility measures (e.g. capital controls, import/export licenses, etc.). In this case there is a black market exchange rate where the currency trades at its market/unofficial rate. Under a system of fixed-convertibility, currency is bought and sold by the central bank or monetary authority on a daily basis to achieve the target exchange rate. This target rate may be a fixed level or a fixed band within which the exchange rate may fluctuate until the monetary authority intervenes to buy or sell as necessary to maintain the exchange rate within the band. (In this case, the fixed exchange rate with a fixed level can be seen as a special case of the fixed exchange rate with bands where the bands are set to zero.) Under a system of fixed exchange rates maintained by a currency board every unit of local currency must be backed by a unit of foreign currency (correcting for the exchange rate). This ensures that the local monetary base does not inflate without being backed by hard currency and eliminates any worries about a run on the local currency by those wishing to convert the local currency to the hard (anchor) currency. Under dollarization, foreign currency (usually the US dollar, hence the term dollarization) is used freely as the medium of exchange either exclusively or in parallel with local currency. This outcome can come about because the local population has lost all faith in the local currency, or it may also be a policy of the government (usually to rein in inflation and import credible monetary policy). These policies often abdicate monetary policy to the foreign monetary authority or government as monetary policy in the pegging nation must align with monetary policy in the anchor nation to maintain the exchange rate. The degree to which local monetary policy becomes dependent on the anchor nation depends on factors such as capital mobility, openness, credit channels and other economic factors. Gold standard The gold standard is a system under which the price of the national currency is measured in units of gold bars and is kept constant by the governments promise to buy or sell gold at a fixed price in terms of the base currency. The gold standard might be regarded as a special case of fixed exchange rate policy, or as a special type of commodity price level targeting. Today this type of monetary policy is no longer used by any country, although the gold standard was widely used across the world between the mid-19th century through 1971. Its major advantages were simplicity and transparency. The gold standard was abandoned during the Great Depression, as countries sought to reinvigorate their economies by increasing their money supply. The Bretton Woods system, which was a modified gold standard, replaced it in the aftermath of World War II. However, this system too broke down during the Nixon shock of 1971. The gold standard induces deflation, as the economy usually grows faster than the supply of gold. When an economy grows faster than its money supply, the same amount of money is used to execute a larger number of transactions. The only way to make this possible is to lower the nominal cost of each transaction, which means that prices of goods and services fall, and each unit of money increases in value. Absent precautionary measures, deflation would tend to increase the ratio of the real value of nominal debts to physical assets over time. For example, during deflation, nominal debt and the monthly nominal cost of a fixed-rate home mortgage stays the same, even while the dollar value of the house falls, and the value of the dollars required to pay the mortgage goes up. Economists generally consider such deflation to be a major disadvantage of the gold standard. Unsustainable (i.e. excessive) deflation can cause problems during recessions and crisis lengthening the amount of time an economy spends in recession. William Jennings Bryan rose to national prominence when he built his historic (though unsuccessful) 1896 presidential campaign around the argument that deflation caused by the gold standard made it harder for everyday citizens to start new businesses, expand their farms, or build new homes. 4. What are the Monetary Policy tools? Monetary policy uses three main tactical approaches to maintain monetary stability: The first tactic manages the money supply. This mainly involves buying government bonds (expanding the money supply) or selling them (contracting the money supply). In the Federal Reserve System, these are known as open market operations, because the central bank buys and sells government bonds in public markets. Most of the government bonds bought and sold through open market operations are short-term government bondsbought and sold from Federal Reserve System member banks and from large financial institutions. When the central bank disburses or collects payment for these bonds, it alters the amount of money in the economy while simultaneously affecting the price (and thereby the yield) of short-term government bonds. The change in the amount of money in the economy in turn affects interbank interest rates. The second tactic manages money demand. Demand for money, like demand for most things, is sensitive to price. For money, the price is the interest rates charged to borrowers. Setting banking-system lending or interest rates (such as the US overnight bank lending rate, the federal funds discount Rate, and the London Interbank Offer Rate, or Libor) in order to manage money demand is a major tool used by central banks. Ordinarily, a central bank conducts monetary policy by raising or lowering its interest rate target for the interbank interest rate. If the nominal interest rate is at or very near zero, the central bank cannot lower it further. Such a situation, called a liquidity trap, can occur, for example, during deflation or when inflation is very low. The third tactic involves managing risk within the banking system. Banking systems use fractional reserve banking to encourage the use of money for investment and expanding economic activity. Banks must keep banking reserves on hand to handle actual cash needs, but they can lend an amount equal to several times their actual reserves. The money lent out by banks increases the money supply, and too much money (whether lent or printed) will lead to inflation. Central banks manage systemic risks by maintaining a balance between expansionary economic activity through bank lending and control of inflation through reserve requirements. 5. What is Fiscal Policy? Fiscal policy is a type of economical intervention where the government injects its policies into an economy in order to either expand the economy’s growth or to contract it. By changing the levels of spending and taxation, a government can directly or indirectly affect the aggregate demand, which is the total amount of goods and services in an economy. One thing to remember concerning fiscal policy is that a recession is generally defined as a time period of at least two quarters of consecutive reduction in growth. It may take time to even recognize whether or not there is a recession. With fiscal policy, there will be certain levels of lag time in which conditions will deteriorate before being recognized. At the same time, fiscal policy takes time to implement due to legislative and administrative processes, and those same policies will take time to show results after implementation. Consumers can also react to these policies positively or negatively. Most consumers would have a positive reaction per say to a policy that lowers taxes, while some will have an issue with a government spending more which will increase the burden of debt on nations citizens. Nevertheless, fiscal policy is a type of intervention that can help to control the direction of an economy. Deciding if and when it should be used will certainly continue to be debated. In economics and political science, fiscal policy is the use of government revenue collection (taxation) and expenditure (spending) to influence the economy. The two main instruments of fiscal policy are changes in the level and composition of taxation and government spending in various sectors. These changes can affect the following macroeconomic variables in an economy: Aggregate demand and the level of economic activity; The distribution of income; The pattern of resource allocation within the sector and relative to the private sector. Fiscal policy refers to the use of the government budget to influence economic activity. 6. What are the Types of Fiscal Policy? Expansionary Fiscal Policy When an economy is in a recession, expansionary fiscal policy is in order. Typically this type of fiscal policy results in increased government spending and/or lower taxes. A recession results in a recessionary gap – meaning that aggregate demand (ie, GDP) is at a level lower than it would be in a full employment situation. In order to close this gap, a government will typically increase their spending which will directly increase the aggregate demand curve (since government spending creates demand for goods and services). At the same time, the government may choose to cut taxes, which will indirectly affect the aggregate demand curve by allowing for consumers to have more money at their disposal to consume and invest. The actions of this expansionary fiscal policy would result in a shift of the aggregate demand curve to the right, which would result closing the recessionary gap and helping an economy grow. Contractionary Fiscal Policy Contractionary fiscal policy is essentially the opposite of expansionary fiscal policy. When an economy is in a state where growth is at a rate that is getting out of control (causing inflation and asset bubbles), contractionary fiscal policy can be used to rein it in to a more sustainable level. If an economy is growing too fast or for example, if unemployment is too low, an inflationary gap will form. In order to eliminate this inflationary gap a government may reduce government spending and increase taxes. A decrease in spending by the government will directly decrease aggregate demand curve by reducing government demand for goods and services. Increases in tax levels will also slow growth, as consumers will have less money to consume and invest, thereby indirectly reducing the aggregate demand curve. Considerations Economic fluctuations independent of policy actions by government often affect the level of tax revenues, forcing elected officials to alter fiscal policy. For example, economic recessions reduce output and employment, resulting in reduced revenue for government coffers. This often forces policy makers to consider contractionary measures, such as increasing revenues by raising taxes or cutting government spending. 7. What are the Components/Instruments of Fiscal Policy? Taxation Taxation is one of the two primary instruments of fiscal policy. When the government increases or decreases taxes, it increases or decreases the amount of money consumers have to spend which can have a significant impact on the direction of the overall economy. A decrease in taxation tends to put more money into the hands of consumers, which can lead to increased spending. Increased spending tends to lead to higher revenues for businesses, which can allow them to expand and hire more workers. Cutting taxes is a common fiscal policy measure to encourage economic growth. Government Spending Government spending is the other main instrument of fiscal policy. The expenditures of the government can promote economic activity and create jobs. For example, if the government funds a project to build a high-speed train across the country, the funds that go into the project could go toward hiring workers which could reduce unemployment and inject money into the economy. Higher levels of government spending tend to promote employment and economic growth. Considerations The government uses fiscal policy to promote economic growth, low unemployment and to stabilize the economy. During period of low economic growth, the government tends to cut taxes and may increase spending in an attempt to spark growth. During periods of high economic growth, the government may increase taxes and cut spending to ensure that the economy doesnt grow too quickly which can result in undesirable effects like high inflation. 8. What are the Stances of Fiscal Policy? The three main stances of fiscal policy are: Neutral fiscal policy is usually undertaken when an economy is in equilibrium. Government spending is fully funded by tax revenue and overall the budget outcome has a neutral effect on the level of economic activity. Expansionary fiscal policy involves government spending exceeding tax revenue, and is usually undertaken during recessions. Contractionary fiscal policy occurs when government spending is lower than tax revenue, and is usually undertaken to pay down government debt. However, these definitions can be misleading because, even with no changes in spending or tax laws at all, cyclic fluctuations of the economy cause cyclic fluctuations of tax revenues and of some types of government spending, altering the deficit situation; these are not considered to be policy changes. Therefore, for purposes of the above definitions, government spending and tax revenue are normally replaced by cyclically adjusted government spending and cyclically adjusted tax revenue. Thus, for example, a government budget that is balanced over the course of the business cycle is considered to represent a neutral fiscal policy stance. 1. Methods of funding Governments spend money on a wide variety of things, from the military and police to services like education and healthcare, as well as transfer payments such as welfare benefits. This expenditure can be funded in a number of different ways: Taxation Seignior age, the benefit from printing money Borrowing money from the population or from abroad Consumption of fiscal reserves Sale of fixed assets (e.g., land) 2. Borrowing A fiscal deficit is often funded by issuing bonds, like treasury bills or consols and gilt-edged securities. These pay interest, either for a fixed period or indefinitely. If the interest and capital requirements are too large, a nation may default on its debts, usually to foreign creditors. Public debt or borrowing refers to the government borrowing from the public. 3. Consuming prior surpluses A fiscal surplus is often saved for future use, and may be invested in either local currency or any financial instrument that may be traded later once resources are needed; notice, additional debt is not needed. For this to happen, the marginal propensity to save needs to be strictly positive. Economic effects of fiscal policy Governments use fiscal policy to influence the level of aggregate demand in the economy, in an effort to achieve economic objectives of price stability, full employment, and economic growth. Keynesian economics suggests that increasing government spending and decreasing tax rates are the best ways to stimulate aggregate demand, and decreasing spending increasing taxes after the economic boom begins. Keynesians argue this method be used in times of recession or low economic activity as an essential tool for building the framework for strong economic growth and working towards full employment. In theory, the resulting deficits would be paid for by an expanded economy during the boom that would follow; this was the reasoning behind the New Deal. Governments can use a budget surplus to do two things: to slow the pace of strong economic growth, and to stabilize prices when inflation is too high. Keynesian theory posits that removing spending from the economy will reduce levels of aggregate demand and contract the economy, thus stabilizing prices. But economists still debate the effectiveness of fiscal stimulus. The argument mostly centers on crowding out: whether government borrowing leads to higher interest rates that may offset the simulative impact of spending. When the government runs a budget deficit, funds will need to come from public borrowing (the issue of government bonds), overseas borrowing, or monetizing the debt. When governments fund a deficit with the issuing of government bonds, interest rates can increase across the market, because government borrowing creates higher demand for credit in the financial markets. This causes a lower aggregate demand for goods and services, contrary to the objective of a fiscal stimulus. Neoclassical economists generally emphasize crowding out while Keynesians argue that fiscal policy can still be effective especially in a liquidity trap where, they argue, crowding out is minimal. 9. What are the Functions of Fiscal Policy? Allocation The first major function of fiscal policy is to determine exactly how funds will be allocated. This is closely related to the issues of taxation and spending, because the allocation of funds depends upon the collection of taxes and the government using that revenue for specific purposes. The national budget determines how funds are allocated. This means that a specific amount of funds is set aside for purposes specifically laid out by the government. This has a direct economic impact on the country. Distribution Whereas allocation determines how much will be set aside and for what purpose, the distribution function of fiscal policy is to determine more specifically how those funds will be distributed throughout each segment of the economy. For instance, the government might allocate $1 billion toward social welfare programs, but $100 million could be distributed to food stamp programs, while another $250 million is distributed among low-cost housing authority agencies. Distribution provides the specific explanation of what allocation was intended for in the first place. Stabilization Stabilization is another important function of fiscal policy in that the purpose of budgeting is to provide stable economic growth. Without some restraints on spending, the economic growth of the nation could become unstable, resulting in periods of unrestrained growth and contraction. While many might frown upon governmental restraint of growth, the stock market crash of 1929 made it clear that unfettered growth could have serious consequences. The cyclical nature of the market means that unrestrained growth cannot continue for an indefinite period. When growth periods end, they are followed by contraction in the form of recessions or prolonged recessions known as depressions. Fiscal policy is designed to anticipate and mitigate the effects of such economic lulls. Development The fourth major function of fiscal policy is that of development. Development seems to indicate economic growth, and that is, in fact, its overall purpose. However, fiscal policy is far more complicated than determining how much the government will tax citizens one year and then determining how that money will be spent. True economic growth occurs when various projects are financed and carried out using borrowed funds. This stems from the the belief that the private sector cannot grow the economy by itself. Instead, some government input and influence are needed. Borrowing funds for this economic growth is one way in which the government brings about development. This economic model developed by John Maynard Keynes has been adopted in various forms since the World War II era. 10. What is the Fiscal Policy in the Philippines? Fiscal policy refers to the measures employed by governments to stabilize the economy, specifically by manipulating the levels and allocations of taxes and government expenditures. Fiscal measures are frequently used in tandem with monetary policy to achieve certain goals. In the Philippines, this is characterized by continuous and increasing levels of debt and budget deficits, though there have been improvements in the last few years. The Philippine government’s main sources of revenue are taxes, with some non-tax revenue also being collected. To finance fiscal deficit and debt, the Philippines rely on both domestic and external sources. Fiscal policy during the Marcos administration was primarily focused on indirect tax collection and on government spending on economic services and infrastructure development. The administration inherited a large fiscal deficit from the previous administration, but managed to reduce fiscal imbalance and improve tax collection through the introduction of the 1986 Tax Reform Program and the value added tax. The Ramos experienced budget surpluses due to substantial gains from the massive sale of government assets and strong foreign investment in its early years. However, the implementation of the 1997 Comprehensive Tax Reform Program and the onset of the Asian financial crisis resulted to a deteriorating fiscal position in the succeeding years and administrations. The Estrada administration faced a large fiscal deficit due to the decrease in tax effort and the repayment of the Ramos administration’s debt to contractors and suppliers. During the Arroyo administration, the Expanded Value Added Tax Law was enacted, national debt-to-GDP ratio peaked, and under spending on public infrastructure and other capital expenditures was observed. History of Philippine Fiscal Policy Marcos Administration (1981-1985) The tax system under the Marcos administration was generally regressive as it was heavily dependent on indirect. Indirect taxes and international trade taxes accounted for about 35% of total tax revenue, while direct taxes only accounted for 25%. Government expenditure for economic services peaked during this period, focusing mainly on infrastructure development, with about 33% of the budget spent on capital outlays. In response to the higher global interest rates and to the depreciation of the peso, the government became increasingly reliant on domestic financing to finance fiscal deficit. The government also started liberalizing tariff policy during this period by enacting the initial Tariff Reform Program, which narrowed the tariff structure from a range of 100%-0% to 50%-10%, and the Import Liberalization Program, which aimed at reducing or eliminating tariffs and realigning indirect taxes. Aquino Administration (1986-1992) Faced with problems inherited from the previous administration, the most important of which being the large fiscal deficit heightened by the low tax effort due to a weak tax system, Aquino enacted the 1986 Tax Reform Program (TRP). The aim of the TRP was to â€Å"simplify the tax system, make revenues more responsive to economic activity, promote horizontal equity and promote growth by correcting existing taxes that impaired business incentives†. One of the major reforms enacted under the program was the introduction of the Value Added Tax (VAT), which was set at 10%. The 1986 tax reform program resulted in reduced fiscal imbalance and higher tax effort in the succeeding years, peaking in 1997, before the enactment of the 1997 Comprehensive Tax Reform Program (CTRP). The share of non-tax revenues during this period soared due to the sale of sequestered assets of President Marcos and his cronies (totalling to about â‚ ±20 billion), the initial efforts to deregulate the oil i ndustry and thrust towards the privatization of state enterprises. Public debt servicing and interest payments as a percent of the budget peaked during this period as government focused on making up for the debt incurred by the Marcos administration. Another important reform enacted during the Aquino administration was the passage of the 1991 Local Government Code which enabled fiscal decentralization. This increased the taxing and spending powers to local governments in effect increasing local government resources. Ramos Administration (1993-1998) The Ramos administration had budget surpluses for four of its six years in power. The government benefited from the massive sale of government assets (totalling to about â‚ ±70 billion, the biggest among the administrations) and continued to benefit from the 1986 TRP. The administration invested heavily on the power sector as the country was beset by power outages. The government utilized its emergency powers to fast-track the construction of power projects and established contracts with independent power plants. This period also experienced a real estate boom and strong foreign direct investment to the country during the early years of the administration, in effect overvaluing the peso. However, with the onset of the Asian financial crisis, the peso depreciated by almost 40%. The Ramos administration relied heavily on external borrowing to finance its fiscal deficit but quickly switched to domestic dependence on the onset of the Asian financial crisis. The administration has been accused of resorting to â€Å"budget trickery† during the crisis: balancing assets through the sales of assets, building up accounts payable and delaying payment of government premium to social security holders. In 1997, the Comprehensive Tax Reform Program (CTRP) was enacted. Republic Act (RA) 8184 and RA 8240, which were implemented under the program, were estimated to yield additional taxes of around â‚ ±7.4 billion; however, a decline in tax effort during the succeeding periods was observed after the CTRP was implemented. This was attributed to the unfavorable economic climate created by the Asian fiscal crisis and the poor implementation of the provisions of the reform. A sharp decrease in international trade tax contribution to GDP was also observed as a consequence of the trade liberalization and globalization efforts in the 1990s, more prominently, the establishment of the ASEAN Free Trade Agreement (AFTA) and membership to the World Trade Organization (WTO) and t he Asia-Pacific Economic Cooperation (APEC). The Ramos administration also provided additional incentives to export-oriented firms, the most prominent among these being RA 7227 which was instrumental to the success of the Subic Bay Freeport Zone. Estrada Administration (1999-2000) President Estrada, who assumed office at the height of the Asian financial crisis, faced a large fiscal deficit, which was mainly attributed to the sharp deterioration in the tax effort (as a result of the 1997 CTRP: increased tax incentives, narrowing of VAT base and lowering of tariff walls) and higher interest payments given the sharp depreciation of the peso during the crisis. The administration also had to pay P60 billion worth of accounts payables left unpaid by the Ramos administration to contractors and suppliers. Public spending focused on social services, with spending on basic education reaching its peak. To finance the fiscal deficit, Estrada created a balance between domestic and foreign borrowing. Arroyo Administration (2002-2009) The Arroyo administration’s poor fiscal position was attributed to weakening tax effort (still resulting from the 1997 CTRP) and rising debt servicing costs (due to peso depreciation). Large fiscal deficits and heavy losses for monitored government corporations were observed during this period. National debt-to-GDP ratio reached an all-time high during the Arroyo administration, averaging at 69.2%. Investment in public infrastructure (at only 1.9% of GDP), expenditure for economic services, health spending and education spending all hit an historic-low during the Arroyo administration. The government responded to its poor fiscal position by under-spending in public infrastructure and social overhead capital (education and health care), thus sacrificing the economy’s long-term growth. In 2005, RA 9337 was enacted, the most significant amendments of which were the removal of electricity and petroleum VAT exemptions and the increase in the VAT rate from 10% to 12%.