Cost Accounting Essay

If you are starting out in a new business, especially a service/manufacturing business, understanding the cost accounting system and which cost accounting system will work best for your company, is the first step to being successful. Once you find someone to help you navigate those waters, let them help you sail the rough seas of direct and indirect inventory, direct and indirect labor costs, and how to allocate factory overhead as well. While it all may sound confusing, having the right person with the right knowledge and advice, can make all the difference to you and the success of your business. We learned in Chapter 19 that cost accounting systems calculate, register, and record product costs. Once these costs have been recorded, administrators and supervising personnel can use these costs for setting their product prices, controlling operations and developing financial statements. These reports can play an important role in the financial decision making process for your company so it is imperative that they are accurate and detailed. There are two different types of cost accounting systems. There are called job order cost systems and process cost systems. While both systems are used by manufacturing companies, the job order cost system is used by companies that manufacture custom products or groups of products that are alike. The process cost system, on the other hand, is chosen by manufacturing companies that make units of a product that are impossible to tell apart and are produced using a continuous production process. Once you have chosen your type of cost accounting system, you will need to know what types of costs that will need to be reported and the difference in those costs. First, you have direct materials cost and indirect materials cost. Direct materials costs are materials that will be used as an essential part of the finished product. For example, for an electrician, direct materials would be receptacles and wiring. To be considered and classified as a direct materials cost, it has to be used as an essential part of the finished product and it has to be a significant portion of the total cost of the finished product. If it does not fit these two requirements, then it is considered an indirect materials cost, or factory overhead cost. â€Å"Indirect materials are materials used in the production process, but which cannot be linked to a specific product or job. Alternatively, they may be used in such insubstantial quantities on a per-product basis that it is not worthwhile to track them as direct materials† (Bragg) .An example of an indirect materials cost, or factory overhead cost, for an electrician would be electrical tape and solder. Next, we have direct and indirect labor costs. As with direct materials costs, labor costs must also meet the same two requirements to be labeled direct labor costs. They must be an essential part of the finished product and must be a significant portion of the total cost of the finished product. If they meet these two requirements, these labor costs are considered direct labor costs. If they do not meet these requirements, they are indirect labor costs, or factory overhead costs. The janitor who cleans the building incurs labor costs for the company; however, the janitorial costs are not an essential cost of manufacturing their product. As a result, the janitorial labor costs are indirect labor costs, or factory overhead cost. So what are factory overhead costs and how do you measure and record it? Our textbook describes both in detail. Factory overhead costs are indirect costs of the product. As previously mentioned, these can be materials and labor costs that do not directly enter into the finished product. Some examples include: Heating and lighting the factory Property taxes on factory buildings and land Depreciation on factory plant and equipment Sandpaper, glue, buffing compound Power to run the machines Salaries of production supervisors Because factory overhead costs cannot be directly earmarked to jobs, they are instead, applied to jobs using a common measure related to each job. This common measure is called an activity base. The activity base used to apply overhead should reflect the use of factory overhead costs. Factory overhead costs are usually applied to jobs using a predetermined factory overhead rate computed as follows: Predetermined FactoryEstimated Total Factory Overhead Costs Overhead Rate = Estimated Activity Base For example, if a company estimated a total factory overhead cost of $50,000 for the year and the activity base as 10,000 direct labor hours, a predetermined factory overhead rate of $5 per direct labor hour is computed using the estimated amounts at the beginning of the period. Predetermined factory overhead rated are computed because managers need information about the product cost of each job in a timely manner. With timely information, managers can fine-tune manufacturing methods or product pricing. Remember, during each step of your manufacturing process, identify and record every cost as well as determine whether the costs are direct, indirect, or factory overhead. Keeping up with these costs will help you determine the final cost of each unit and whether or not to make any changes necessary for a more profitable future. Works Cited Bragg, Steven, â€Å"What are Indirect Materials?† Questions & Answers – Accounting Tools 1 June 2013. Warren, Reeve and Duchac. ACCT 1101 Chapters 18-26 Managerial Accounting. Ohio: Cengage, 2012. Print.

Judgement

To judge is a vague content of knowledge without an encounter. Example: I may say that â€Å"he† is â€Å"intelligent† and someone else also said â€Å"he is intelligent†. This judgment should be provided by a qualifier to determine the Judgment.The use of: â€Å"he† as pronoun/subject â€Å"Is† as verb â€Å"Intelligent as predicate Thus the Judgment Is also the expression of the fact that the subject belongs to the extension of the predicate Judgment does not merely express the comprehension of the subject by means of a predicate but many Judgments need an encounter In an act of â€Å"knowing†. In the example: â€Å"Peter is mortal†, â€Å"Peter is intelligent† -it showed many judgments to express the encounter. In the example â€Å"Peter is Peters -this shows vagueness .This shows TAUTOLOGY-is a way to express something by repeating or saying it in a different way THE VERBAL copula â€Å"IS† The judgment is not only a dismemberment of the encounter which is knowledge. Example: â€Å"This is heavy' The JUDGMENT, therefore, not only expresses the subject's comprehension in a concept, but also places the subject under the predicates extension and in addition, declares that the subject and the predicate are identical in the terminus of the encounter In Mathematical Expression: Line A = Line B does not mean that it is not a Judgment.Mathematical expressions are also Judgment through formula. Every judgment , however states an identity. Kind of â€Å"Translations† is necessary to reveal the declaration of identity contained In mathematical statements. Judgment By Telescopically From Webster Dictionary: To Judge is a vague content of knowledge without an encounter. Example: I may say that â€Å"he† is â€Å"intelligent† and someone else also said â€Å"he is intelligent†.This Judgment â€Å"is† as verb â€Å"intelligent as predicate Thus the Judgment is also the ex pression of the fact that the subject belongs to the eradicate but many Judgments need an encounter in an act of â€Å"knowing†. In the example: â€Å"Peter is mortal†, â€Å"Peter is intelligent† -it showed many Judgments to express the encounter. In the example â€Å"Peter is Peter† -this shows vagueness . This The Judgment is not only a dismemberment of the encounter which is knowledge. Mathematical expressions are also Judgment through formula. Every Judgment , Kind of â€Å"Translations† is necessary to reveal the declaration of identity contained in

Health Care Physicians In Kuwait Health And Social Care Essay

Introduction: Domestic force against adult females is an of import public wellness job. The medical practician ‘s personal value system and beliefs about domestic force can play an of import function to cover with job and supply support to battered adult females. Aim: The current survey was formulated to uncover attitude of doctors towards domestic force against adult females and factors impacting this attitude. Methods: To accomplish such purposes, a sample of 565 doctors were interviewed out of 899 doctors selected for this survey with an overall response rate of 62.8 % . The mark population for this survey was all doctors in the primary wellness attention centres in Kuwait. Consequences: The consequences of the current survey revealed that doctors tended to hold a comparatively low positive overall attitude mark towards force against adult females ( 60.75 + 13.16 % ) , with a average per centum mark of 42.36 + 15.37 % for relationship between spouses domain, 75.73 + 21.80 % for good grounds to hit married womans domain, and 58.39 + 17.11 % for direction of domestic force sphere. Female doctors tended to hold a higher positive attitude mark than males ( 62.9 + 13.36 % compared with 58.3 + 12.52 % , P & A ; lt ; 0.001 ) every bit good as for each attitude sphere. Years spent at the current occupation negatively correlated with the entire attitude mark of doctors towards domestic force against adult females. Decision: There is a great demand to better attitude of doctors about domestic force, particularly against adult females through decently planned preparation plans so that a better medical attention and support of beat-up adult females can be achieved. Cardinal words: Domestic – force – Women – Physicians-AttitudeIntroductionGender-based force is widely recognized as an of import public wellness job, both because of the acute morbidity and mortality associated with assault and its longer-term impact on adult females ‘s wellness, including chronic hurting, gynecologic jobs, sexually-transmitted diseases, depression, post-traumatic emphasis upsets, and self-destruction. ( 1-3 ) Abused adult females who have hapless physical and mental wellness suffer more hurts and utilize more medical resources than non-abused adult females. ( 1,2,4 ) Health attention establishments can do important parts to turn toing force against adult females by back uping both doctors and victims. ( 3 ) Health attention workers can play an indispensable function to cover with this wellness job through proper direction of beat-up adult females and supplying full support. However, wellness attention workers might portion the same cultural norms and biass with victims or culprits of interpersonal force, which would impact their professional attitudes. Furthermore, some doctors might believe that interpersonal force is a private household affair and non a wellness issue. In add-on, while the happenings allocated to this field are unequal, some wellness attention workers might experience despairing, taking them to professional reluctance. ( 4-6 ) Thus the following survey was formulated to accomplish the undermentioned aims: Estimate attitude of doctors towards domestic force ( DV ) against adult females and Reveal factors impacting attitude of do ctors about domestic force against adult females.MethodsAn experimental cross-sectional survey design was adopted for this survey. The survey was carried out in the primary wellness attention centres in Kuwait. All doctors available during the field work of the survey in the primary wellness attention centres were the mark population of this survey. A sum of 78 wellness centres are distributed over five wellness territories in Kuwait. The entire figure of doctors was 899 ; out of these, merely 565 agreed to portion in the survey with a response rate of 62.8 % . The survey covered the period January to August 2010. Data were collected over three months get downing from the May to July, 2010. Datas of this survey was collected through a specially designed self-administered questionnaire. This questionnaire consisted of several subdivisions. The first subdivision dealt with socio-demographic features, including age, sex, figure of old ages in pattern, educational making, current occupation, old ages at current work and wage. Three inquiries dealt with prevalence of force ; one in Kuwait, one in other Arab states and the last one dealt with prevalence overall the universe. The attitude graduated table consisted of 18 inquiries covering three sub-domains. The first sub-domain dealt with the relationship between spouses and consisted of 6 inquiries, while the 2nd sub-domain the hitting married womans by their hubbies and formed of 8 inquiries, the last sub-domain dealt with direction of DV and consisted of three inquiries. The causes of DV consisted of 14 inquiries ; of these five covered the single features of culprit, two covered the relationship, three dealt with the commu nity factors, and 4 inquiries reflected the social factors including traditions, civilization and wonts. Another subdivision of the interviewing questionnaire covered the expected result of domestic force. This portion consisted of 34 inquiries classified as follows: physical wellness ( 6 inquiries ) , chronic conditions ( 5 inquiries ) , mental wellness ( 8 inquiries ) , negative wellness behaviour ( 5 inquiries ) , generative wellness ( 7 inquiries ) , and fatal result ( 3 inquiries ) . A pilot survey was carried out on 30 doctors ( non included in the concluding survey ) . This survey was formulated with the following aims: prove the lucidity, pertinence of the survey tools, accommodate the purpose of the work to existent feasibleness, place the troubles that may be faced during the application, every bit good as survey all the processs and activities of the administrative facets. Besides, the clip of finishing the questionnaire was estimated during this pilot survey to be 10 proceedingss. The necessary alterations harmonizing to the consequences obtained were done, so some statements were reworded. Besides, the construction of the questionnaire sheet was reformatted to ease informations aggregation. A pre-coded sheet was used. All inquiries were coded before informations aggregation. This facilitates both informations entry and confirmation every bit good as reduces the chance of mistakes during informations entry. Datas were fed to the computing machine straight from the questionnaire without an intermediate informations transportation sheets. The Excel plan was used for informations entry. A file for informations entry was prepared and structured harmonizing to the variables in the questionnaire. After informations were fed to the Excel plan ; several methods were used to verify informations entry. These methods included the followers: simple frequence, cross-tabulation, every bit good as manual alteration of entered informations. Percentage mark was calculated for the entire attitude mark every bit good as for each sphere of attitude. Before ciphering the amount of mark ; the mark of negative inquiries was reversed. The per centum mark was calculated as follows: amount of mar k X 100 / figure of points. The amount was treated to give a scope of 100 % with a lower limit of nothing and a upper limit of 100.Statistical analysis:Before analysis ; informations were imported to the Statistical Package for Social Sciences ( SPSS ) which was used for both informations analysis and tabular presentation. Descriptive ( count, per centum, lower limit, upper limit, arithmetic mean, average and standard divergence ) and analytic steps ( Mann Whitney Z trial and Spearman correlativity coefficient ) were utilized. The degree of significance selected for this survey was P ? 0.05. All the necessary blessings for transporting out the research were obtained. The Ethical Committee of the Kuwaiti Ministry of Health approved the research. A written format explicating the intent of the research was prepared and signed by the doctor before get downing the interview. In add-on, the intent and importance of the research were discussed with the manager of the wellness centre.ConsequenceTable I portrays socio-demographic features of studied doctors. Females constituted 53.1 % of the studied sample while the remainder were males ( 46.9 % ) with an mean age of 39.95 + 9.07 old ages and an norm of 13.04 + 8.42 old ages at the current occupation. Kuwaiti doctors constituted 43.2 % of the entire sample while 51.5 % were other Arab doctors. The bulk were married ( 87.3 % ) while the remainder were presently individual ( 3.0 % divorced or widow and 9.7 % ne'er married before ) . Out of the entire sample, 89.2 % were working as a registrar, while the remainder ( 10.8 % ) were ei ther specializers or advisers. Those keeping a unmarried man grade constituted 31.7 % , while the bulk ( 68.3 % ) were keeping a higher educational certification. The wage for the bulk of doctors ( 82.1 % ) was more than 1000 KD. Table II shows perceptual experience of doctors about prevalence of DV against adult females in Kuwait, other Arab states and worldwide. Doctors tended to gauge lower prevalence of domestic force in Kuwait than other Arab states or worldwide as 43.8 % of them stated that domestic force against adult females is more than 20 % while 69 % and 58.8 % stated the same prevalence in other Arab states and worldwide severally. Table III demonstrates attitude of doctors towards DV against adult females. The highest average per centum mark ( 75.73 + 21.80 % ) was that for attitude sphere two covering with striking of married womans in different fortunes, followed by sphere three covering with proper direction of DV ( 58.39 + 17.11 % ) . Relationship between spouses ( domain one ) came on the underside of the list with a mean of 42.36 + 15.37 % . The overall attitude average per centum mark was 60.75 + 13.16 % with a average per centum mark of 61.1 % . Table IV shows the relationship between attitude towards DV and socio-demographic features of doctors. Female doctors tended to hold a significantly higher average per centum tonss than males for relationship sphere ( 45.1 + 15.53 compared with 39.3 + 14.62 % , P & A ; lt ; 0.001 ) , hitting sphere ( 77.9 + 22.16 compared with 73.3 + 21.15 % , P = 0.001 ) , every bit good as the direction sphere ( 59.6 + 17.07 compared with 59.6 + 17.07 % , P = 0.044 ) . Overall, female doctors had a significantly higher attitude score than male doctors ( 62.9 + 13.36 compared with 58.3 + 12.52 % , P & A ; lt ; 0.001 ) . Kuwaiti doctors had a significantly higher mark than non-Kuwaiti for the relationship sphere ( 44.4 + 15.31 compared with 40.8 + 15.26 % , P = 0.007 ) , while no important differences were noticed between them with respect to other spheres. Job of the doctor significantly impacted merely on hitting attitude sphere where specializer doctors had a higher average per centum mark ( 82.5 + 16.96 % ) than registrar doctors ( 74.9 + 22.19 % , P = 0.015 ) . Marital position and degree of instruction did non hold any important impact on the different spheres of doctors ‘ attitude towards DV against adult females. A negative correlativity was found between continuance at work in old ages from one side and the overall attitude mark on the other side, ( R = -0.115 ) . Table I: Socio-demographic features of doctorsFictional characterNumber%AgeMin-Max 24.0 – 65 Mean + SD 39.95 + 9.07Sexual activityMale 265 46.9 Female 300 53.1NationalityKuwaiti 244 43.2 Arab 291 51.5 Non Arab 30 5.3Marital positionSingle 55 9.7 Married 493 87.3 Divorced / Widowed 17 3.0QualificationBachelor grade 179 31.7 Master/PhD/Board 386 68.3OccupationRegistrar 504 89.2 Specialist 61 10.8Old ages at workMin-Max 0.1 – 40 Mean + SD 13.04 + 8.42Income ( KD )& A ; lt ; 1000 101 17.9 1000 – 239 42.3 & A ; gt ; 1500 225 39.8 Table II: Percept of doctors about prevalence of domestic force in Kuwait, Arab states and worldwide Prevalence of Domestic force& A ; lt ; 1 %1-5 %6-10 %11-20 %21-30 %& A ; gt ; 30 %Kuwait ( n=484 ) 11 ( 2.3 ) 31 ( 6.4 ) 94 ( 19.4 ) 136 ( 28.1 ) 115 ( 23.8 ) 97 ( 20.0 ) Other Arab states ( n=480 ) 5 ( 1.0 ) 12 ( 2.5 ) 47 ( 9.8 ) 85 ( 17.7 ) 180 ( 37.5 ) 151 ( 31.5 ) Worldwide ( n=469 ) 4 ( 0.9 ) 36 ( 7.7 ) 53 ( 11.3 ) 100 ( 21.3 ) 114 ( 24.3 ) 162 ( 34.5 ) Datas are presented as figure ( % ) Table Three: Attitude of doctors towards domestic forceAttitude sphereStronglydisagreeDisagreeImpersonalAgreeStrongly holdRelationship between spouses ( A1 )A good married woman obeys her hubby even if she disagrees 32 ( 5.7 ) 92 ( 16.3 ) 134 ( 23.7 ) 201 ( 35.6 ) 106 ( 18.8 ) Family jobs should merely be discussed with people in the household 15 ( 2.7 ) 57 ( 10.1 ) 70 ( 12.4 ) 232 ( 41.1 ) 191 ( 33.8 ) It is of import for a adult male to demo his married woman who is the foreman 38 ( 6.7 ) 88 ( 15.6 ) 103 ( 18.2 ) 225 ( 39.8 ) 111 ( 19.6 ) A adult female should be able to take her ain friends even if her hubby disagrees 75 ( 13.3 ) 177 ( 31.3 ) 141 ( 25.0 ) 119 ( 21.1 ) 53 ( 9.4 ) It is a married woman ‘s duty to hold sex with her hubby even if she does non experience like it 102 ( 18.1 ) 154 ( 27.3 ) 147 ( 26.0 ) 114 ( 20.2 ) 48 ( 8.5 ) If a adult male mistreats his married woman, others outside of the household should step in 108 ( 19.1 ) 118 ( 20.9 ) 103 ( 18.2 ) 153 ( 27.1 ) 83 ( 14.7 ) ( Min – Max ) Mean + SD [ Median ] ( 0.0 – 87.5 ) 42.36 + 15.37 [ 41.7 ]A adult male have a good ground to hit his married woman if ( A2 ) :She does non finish her family work to his satisfaction 367 ( 65.0 ) 147 ( 26.0 ) 22 ( 3.9 ) 15 ( 2.7 ) 14 ( 2.5 ) She disobeys him 266 ( 47.1 ) 175 ( 31.0 ) 53 ( 9.4 ) 44 ( 7.8 ) 27 ( 4.8 ) She refuse to hold sexual relation with him 316 ( 55.9 ) 164 ( 29.0 ) 51 ( 9.0 ) 14 ( 2.5 ) 20 ( 3.5 ) She asks him whether he has other miss friends 331 ( 58.6 ) 159 ( 28.1 ) 45 ( 8.0 ) 16 ( 2.8 ) 14 ( 2.5 ) He suspects that she is unfaithful 274 ( 48.5 ) 170 ( 30.1 ) 72 ( 12.7 ) 29 ( 5.1 ) 20 ( 3.5 ) He finds out that she has been unfaithful 183 ( 32.4 ) 91 ( 16.1 ) 79 ( 14.0 ) 130 ( 23.0 ) 82 ( 14.5 ) She exposes hubby failings 237 ( 41.9 ) 137 ( 24.2 ) 86 ( 15.2 ) 61 ( 10.8 ) 44 ( 7.8 ) She lies to her hubby 210 ( 37.2 ) 154 ( 27.3 ) 87 ( 15.4 ) 66 ( 11.7 ) 48 ( 8.5 ) ( Min – Max ) Mean + SD [ Median ] ( 0.0 – 100.0 ) 75.73 + 21.80 [ 78.1 ]direction of domestic force ( A3 )Womans who experienced physical force must take professional aid 9 ( 1.6 ) 16 ( 2.8 ) 32 ( 5.7 ) 283 ( 50.1 ) 225 ( 39.8 ) Health professionals can non assist domestic force victims, as they will return to the same societal environment 75 ( 13.3 ) 161 ( 28.5 ) 92 ( 16.3 ) 152 ( 26.9 ) 85 ( 15.0 ) Domestic force is a private issue, and patients are ashamed to speak about it 36 ( 6.4 ) 80 ( 14.2 ) 60 ( 10.6 ) 281 ( 49.7 ) 108 ( 19.1 ) Covering with domestic force agencies interfering with privateness of the household 155 ( 27.4 ) 233 ( 41.2 ) 86 ( 15.2 ) 55 ( 9.7 ) 36 ( 6.4 ) ( Min – Max ) Mean + SD [ Median ] ( 6.3 – 100.0 ) 58.39 + 17.11 [ 56.3 ] ( A ) Entire Attitude Score ( Min – Max ) Mean + SD [ Median ] ( 18.1 – 91.7 ) 60.75 + 13.16 [ 61.1 ] Datas are presented as figure ( natural % ) Table Four: Relation between attitude sphere tonss ( average + SD ) and socio-demographic features of doctorsCharacteristicAttitude DomainEntire mark( A )Relationship( A1 )Hiting( A2 )Management ( A3 )Sexual activityMale 39.3 + 14.6 73.3 + 21.2 56.9 + 17.1 58.3 + 12.5 Female 45.1 + 15.5 77.9 + 22.2 59.6 + 17.1 62.9 + 13.4 Phosphorus & A ; lt ; 0.001* 0.001* 0.044* & A ; lt ; 0.001*NationalityKuwaiti 44.4 + 15.3 76.4 + 21.7 59.5 + 16.3 61.9 + 13.3 Non Kuwaiti 40.8 + 15.3 75.2 + 21. 9 57.5 + 17.7 59.8 + 13.0 Phosphorus 0.007* 0.540 0.0501 0.060Marital StatusSingle 42.3 + 15.5 75.5 + 22.7 59.2 + 18.3 60.8 + 13.62 Married 42.4 + 15.4 75.8 + 21.7 58.3 + 16.9 60.7 + 13.11 Phosphorus 0.899 0.991 0.659 0.871EducationBachelor 41.4 + 13.4 77.5 + 21.6 57.9 + 16.3 61.1 + 12.10 Higher 42.8 + 16.2 74.9 + 21.9 58.6 + 17.5 60.6 + 13.64 Phosphorus 0.378 0.169 0.769 0.712OccupationRegistrar 42.3 + 15.3 74.9 + 22.2 58.1 + 17.4 60.3 + 13.3 Specialist 43.1 + 16.1 82.5 + 17.0 60.6 + 14.3 64.5 + 11.6 Phosphorus 0.695 0.015* 0.172 0.034*Age ( R )-0.065 -0.019 -0.040 -0.053Old ages at work ( R )-0.054 -0.106* -0.043 -0.115* * Significant, P & A ; lt ; 0.05. R = Spearman correlativity coefficientDiscussionDV is a major societal and medical job. It occurs in all states irrespective of societal, economic, cultural or spiritual values. Battered adult females seek aid in the wellness attention installations due to both physical and psychological harm that they suffer due to the force they experience. ( 7,8 ) The medical practicians ‘ personal value system and beliefs about DV can play an of import function. A survey in an exigency section in Hong Kong reported that the physicians found it hard to optimally pull off victims of DV because of the belief in the importance of keeping household integrity and that DV is a private issue. ( 9 ) Fewer physicians were found to test for DV believing that intercession is less successful than for other behavioral hazards such as smoke. ( 10 ) It seems that a positive attitude towards DV can play a important function for both diagnosis and pull offing medical results of force. Thus the current research was formulated to uncover attitude of primary wellness attention physicians towards force against adult females and identify factors impacting spheres of attitude. To accomplish these aims ; 565 primary wellness attention doctors were interviewed utilizing a specially designed questionnaire. The consequences of this survey revealed that more than half the doctors were married ( 87.3 % ) , Non-Kuwait ( 56.8 % ) , females ( 53.1 % ) with an mean age of 39.95 + 9.07 old ages and spent 13.04 + 8.42 old ages, on the norm, at the current occupation. Doctors tended to describe lower prevalence of DV against adult females in Kuwait followed, while they stated high rates in the other Arab states with an intermediate figure for world-wide prevalence. Other surveies, besides revealed that consciousness of primary doctors about the prevalence of DV is hapless. ( 11-15 ) A multi-country survey carried out by WHO showed that 15 – 71 % of adult females experient physical and / or sexual force by an intimate spouse at some point in their lives. ( 16 ) Another survey carried out on American Indian adult females revealed a figure every bit high as 80 % . ( 8 ) The differences among these surveies might be attributed to the nature of the job itself as some adult females tend to hide the event and prefer non coverage. Besides, the disagreement in force definition every bit good as the adoptive attack for gauging force happening whether one-year or life clip happening might explicate the differences of domestic force prevalence among these surveies. The consequences of the current survey besides revealed that doctors tended to hold a comparatively low positive overall attitude mark towards force against adult females ( 60.75 + 13.16 % ) , with a average per centum mark of 42.36 + 15.37 % for relationship between spouses domain, 75.73 + 21.80 % for good grounds to hit married womans domain, and 58.39 + 17.11 % for direction of domestic force sphere. This low mark can be attributed to cultural and social values in eastern states, as doctors themselves are the merchandises of the current cultural tradition. ( 17 ) Besides, hapless cognition and deficient preparation can be behind this low positive attitude. ( 18-22 ) Absence of clear guidelines to cover with DV at the degree of the primary wellness attention centres and inaccessibility of specific intervention prescription can besides significantly lend to this low attitude. ( 23 ) Low attitude of primary wellness attention physicians towards DV can sabotage their abilities to name and decently manage battered adult females, particularly with respect to implementing suited intercession steps. Female doctors tended to hold a higher positive mark on all the studied attitude spheres. Female doctors were reported to province the most positive encouraging attitude towards DV against adult females when compared with male doctors. ( 24 ) Rose and Saunders suggested that female suppliers may hold more empathetic attitudes towards victims of interpersonal force. ( 25 ) Besides, there is an increasing research demoing that preventative attention services for females rendered by female professionals increases the acceptableness and efficiency of medical services. ( 26,27 ) Besides Kuwaiti doctors had a significantly higher positive attitude for relationship between spouses than the non-Kuwaiti doctors. Old ages spent at current work were significantly negatively correlated with striking of adult females sphere and the entire attitude mark, bespeaking that with addition in old ages at work there is an attach toing lessening in the specified attitude spheres. However, matrimonial posi tion and degree of instruction, and age did non demo any important relation with the attitude domains. Education did non turn out to alter the attitude toward domestic force. ( 28 ) Some surveies did non demo any important relationship between attitude toward interpersonal force from one side and business, old ages of employment, and matrimonial position on the other side. ( 24 ) Empathic and emotionally supportive behaviour of doctors will promote beat-up adult females to unwrap the force they suffered. This can ensue in supplying a high quality attention services and guarantee efficient use of the available resources to cover with force. Plans for preparation of doctors to beef up their cognition, attitude and pattern towards domestic force against adult females are needed in Kuwait to better the medical services administered to buffet adult females

A Penetrating Analysis Case Study Example | Topics and Well Written Essays - 1000 words

A Penetrating Analysis - Case Study Example The administrator had stored his admin password on his mobile phone and had left the phone unattended in his office. At that time he had not realized that his mobile had been tampered with or that anyone had retrieved the admin password and user name from it. Approximately two weeks later, a virus was uploaded to the company's server and effectively shredded all employee information. Investigations into the attack uncovered evidence from the data dump and the syslog files which indicated that the virus had been directly uploaded from within the organization by the administrator himself. At least, the username and the password the attacker had entered to access the company's server were the administrator's. Further investigations revealed the password theft incident and identified the attacker as a disgruntled IT employee, who had just been put on notice by the administrator. The employee in question was, of course, fired and legal measures were taken against him. The employee records , after the investment of considerable effort and time by the IT department, were retrieved. The seThe security incident described in the above, comprises a malicious attack whose potential for damage was significant. The attacker limited himself to the uploaded of a virus but, alternatively, he could have retrieved company information which was of value to competitors, such as client lists and a proposal that the company was putting together, at that time, for a bid. The consequences, in other words, could have been more damaging than they ultimately were, not because the company's network security system was effective but because the attacker's goal was limited to the uploading of the virus in question. Reflecting upon the security incident outlined in the previous, it is apparent that the network administrator was at fault. Password information should be safeguarded as keys to a vault are, insofar as they are the keys to a corporation's nerve center and misuse has the potential to wreak tremendous damage on a corporation. The second security incident which the company confronted was much more serious and occurred as a direct consequence of a vulnerability in the Cisco router which the company had installed. Apparently, Cisco IOS had a security hole which the company was trying to resolve through a software patch. Cisco had informed its IOS users that they would need to download and install the new software but had not mentioned the security hole. Therefore, my company and the IT department were, as the case with the countless of companies which used IOS across the world, unaware of the presence of a security hole. Many criminal hackers, however, were and Cisco only admitted it at a much later date (Zetter, 2005). Exploitation of this particular security hole did not mean, as the network administrator explained, that a hacker could enter the corporate network but that he/she could both tamper with the data and control the data flow. This is precisely what happened. The router password was changed, financial records were tampered with and two orders for financial transfers were sent by the Financial Director to an offshore bank

Discuss the Core Conditions In Person-Centred Approach Essay

Discuss the Core Conditions In Person-Centred Approach - Essay Example Later on when he moved into the profession of counseling, his experiences and autobiographical history shaped the core values by which he conducted counseling. Carl Rogers was born on January 8, 1902 in Oak Park, Illinois; he was the fourth of five born to Walter A. Rogers and Julia M. Cushing. Growing up as a child, he had an introverted personality and was deeply religious. This belief went so deep in him that he thought about attending a seminary school to become a priest. After attending a conference, he decided that he wanted to help people in other ways besides through religion, so Rogers deviated from his religious upbringing (Thorne 1992). It was at Colombia University where he earned his masters and doctorate. Rogers specialized on working with children and began mastering his client-centered approach. He originally referred to it this way because he wanted to give importance to the phenomenology and the perception by which the client viewed the world (Rogers, 1951). Later, he transitioned to person-centered therapy because greater emphasis was placed on the healing in which the person accomplished within himself or herself (and so will be referred to person-centered for the rest of the paper). When he became a professor of clinical psychology at Ohio State University, he continued to refine his work in this type of therapy. At the end of his life, he focused on conflict management and applying his theoretical approach because he believed that based on the core values that they encompassed all of which was required for therapeutic growth. The three main core conditions that Rogers thought were most effective in counseling are: unconditional positive regard, empathy, and congruence. Unconditional positive regard is where the therapist is able to accept the client for everything they are without any bias or judgment. Empathy is being able to grasp and understand the views of another person. This is important in developing the therapeutic relationship in that the therapeutic relationship. Lastly, congruence is essential in that it promotes genuineness in the client. The therapist accepts the client for who they are. This is especially important because a component of Roger’s underlying theory is in that people’s real and idealized selves do not match up, therefore they will reject apart of themselves. By being genuine, it allows the client to be him or herself, which promotes greater integration. Rogers believed these were the three important features in counseling; however, he expanded these into the definitions of his therapeutic relationship to include six conditions, â€Å"The necessary and sufficient conditions of Therapeutic personality change†. The first condition is that both the therapist and the client must be in psychological contact. This means that the talking relationship must exist between the client and the therapist. This is essential fundamental at the beginning because it is through all three of the fundamental conditions: unconditional positive regard, empathy, and congruency to take place. The second condition was that the client is in a state of incongruence, and therefore is suffering from anxiety. As stated, the incongruency is the result of some person’s perception of their real life not fitting with their idealized life. The incongruency leads to vulnerability and anxiety in the client. Because the therapist expresses all three main core c

Managing and understanding organisations Essay Example | Topics and Well Written Essays - 3000 words

Managing and understanding organisations - Essay Example 4). All people related aspects and functions performed in any organization, regardless of the size of the organization and regardless of the fact that who is performing them, come under the umbrella of human resource management. From job analysis to planning for labour needs, from recruitment to selecting, from orienting employees to training the, from conducting performance appraisals to deciding on wages and salaries, from allocating benefits and perks to building employee commitment and motivation, human resource management deals with all of them. Companies may have various assets that â€Å"make things† possible but these are the people in the company that make â€Å"things happen† (Legge, pp. 63-64, 2005). According to its definition, organisational behaviour is the systematic study and knowledge about process of understanding, prediction, and management of human behaviour in organizations and workplace setting. Important here to note is that organizational behavio ur in itself is an interdisciplinary field, which converges topics from management, human resource management, psychology, sociology, and communications. ... R&D development dollars have nothing to with the level of innovation that any company would be able to achieve but innovation depends entirely on the people, their talent, and their leadership (Mathis & Jackson, pp. 354-356, 2010). Discussion A. Resourcing an Organisation Small and Medium sized Enterprises have various distinct advantages over the large businesses and in this digital era, these advantages have further amplified. More control, greater freedom, quick feedback, and others are few advantages. However, as SMEs enter into their growth phase, they encounter various problems that are primarily related to their lack of knowledge about human resource management. Most SMEs have one person managing all human, financial, production, supply chain, distribution, administrative and other aspects of business (Torrington, Hall & Taylor, pp. 98-99, 2008). Not only there is no expert person to deal with human resource issues but also at the same time, the owner finds himself or herself with little or no time to address them or even if he or she does, it becomes difficult to do justice with those issues in relation with time and effort. In fact, almost 65 percent of the small businesses fail during the first three years of operation and one important reason behind the same is poor human resource management. In addition, this is one factor where large companies have inherent advantage. Internet has taken away many of the advantages related to size, geographical reach, scope, economies of scale, communication and others present to large business over SMEs but this is one advantage, even competitive advantage for some firms, that remains with large business despite the revolution of this digital age. Large firms are more likely to have an established separate department to

Frock Coats of Victoria And Albert Museum Essay

Frock Coats of Victoria And Albert Museum - Essay Example Amongst the dresses we will focus on not only the dresses of ladies but also on the dresses of men and children. Other then the dresses, what other accessories were required to be considered as a stylish person at that time, would also be discuussed. Different colours that were considered suitable for men and women of the Edwardarian era would also be discussed. How different fashions evolved over time would also be the focus of the topic. We will discuss about the dresses for different times of the day e.g dresses for morning, night dresses. Amongst the costumes collectd in the Victoria and Albert museum, frock coats will be considered for discussion. All other collectins will not be explained in detail. There is a large amount of history associated with arts and cultures of the A&V museum however only the historical background of frock coats will be given. The fashion of frock coats was firstly used in the 1901. what fashions and styles were acceptable in 1900's and before 1900's w ill also be discussed. Frock coats emerged in 1816. It is said that they originated from a garment called the "frock" which was the usual clothing in the eighteenth century. The colour of a frock coat was originally solid black. Nevertheless it was not a standard therefore in the Victorian era, charcoal grey also became a popular colour for frock coats. The length of the skirt of the frock coat also changed for different era's e.g during the Victorian era and Edwardian era1. This change was in accordance with the fashion. The conventional length of the frock coats became the length up to the knees but as the fashion trends changed, different people followed the latest trends of longer or shorter frock coats to wear. The cut of a frock coat with a waist seam flatters a man's figure, as opposed to a sack coats, and such frock coats remain part of some uniforms of military. They can either be single-breasted as in army uniforms, or double-breasted as in navy uniforms. In the Lithuanianyeshiva world, many pro minent figures wear a black frock coat also known as a kapotteh (accompanied by either a Homburg or Fedora hat) as formal wear.Before the Edwardian era, the fabric for Empire dresses was usually fine white lawn, muslin or batiste. Although muslins were less costly than silks, good white work embroidered lawn fabrics still cost money. Muslin also laundered better than silks, but the white muslins still needed a great deal of attention to keep them looking pristine clean. Regular wearing of white gowns was a sign of social status as white soiled so easily1. White gowns generally were kept for evening and in the day pastel or colored robes were thought more suitable. 1 Victorian Trading Co. Fashion. 2007. Net2 Business. May 2, 2008 The Spencer was a short top coat without tails worn by men during the 1790s as an extra covering over the tailed coat. It had long sleeves and was frequently decorated with military frogging.Its originator is thought to be Earl Spencer who singed the tails of his coat when standing beside a fire. He then had the tails trimmed off and started a fashion.A female version was soon adopted by gentlewomen who at the time were wearing the thin light muslin dresses of the 1790s2. The Spencer was worn as a cardigan is worn today. It was a short form of jacket to just above waist level cut on identical lines to the dress.

Who has the right to write literature about war Essay

Who has the right to write literature about war - Essay Example The first novel about war was written by the male because of their active participation in the war compared to women. Poem about with the theme of men, who walk away, is an explanation of the soldiers in the war. The poem serves as an example of the future generation of the behaviour of men during the war. The pre-war novels were about the role of women during the war. The women responsibility to take cares of domestic chores and had no voice during the war. Most women, who advocated their independence, challenged the novel. Women poets came up with poems that describe their role in the war as opposed to those written by men. Other writers wrote poets that explain if the war occurs or not, the authors state the reasons for the war to occur. For the war to happen there should be a reason. African American literature has been incorporated as part of American literature. However, it is independent of its styles and voices from the American literature. The independence has assisted in reach for many audiences of black origin. In United States, African American literature is criticized for the separation of the writing styles. The separation in literature advocated for women to write about their fellow women and African American to write about the blacks. The new policy in it literature was opposed by the many writers because hinder the literature to explore the entire human race. All the writers have equal right despite the race or the gender background to express their opinion in the literature about the war. In the past, the natives ignored the African American literature. Recently the diverse groups in America have accepted the literature written by the blacks in America because of the reduction in the racial discrimination. In conclusion, all the individuals have a right to write literature about war. The Africa American writers believe that that literature gave them political liberation. The literature presents the truth

Dont You Think Its Time to Start Thinking Essay Example | Topics and Well Written Essays - 250 words

Dont You Think Its Time to Start Thinking - Essay Example 3. Thesis: Society forces the literary deterioration deliberately by wrong applications.  3. Thesis: Society forces the literary deterioration deliberately by wrong applications.  4. Tone: Uses an intellectual tone.  5. Purpose: Emphasizes the responsibility of teachers to help the students to think independently by articulating their ideas clearly.  6. Content: How education is explored and how the educational system functions.7. Clever use of allusions with the example from literature and media to explain social and political awareness.8. Form: Essay; critical writing9. Style: Direct and microscopic examination of the issues confronting the education system. Cultural Betrayal1. Arguments supplemented by rhetorical devices: Examples from media and radio.  2. Point of view: Highlights the turmoil and the churning process going on in the cultural world.  3. Thesis: The importance of culture in building an ethical society that values traditions.  4. Tone: Uses an intellec tual tone, highlighting concern about the fall in moral standards of society.  5. Purpose: Sets the politicians and sociologists thinking to take suitable measures and adverse effects of popular culture on the society.  Ã‚  6. Content: Problems of cultural diversity and how it affects the social institutions like marriage.  7. Clever use of allusions with the example from literature and media to explain social and political awareness.8. Form: Essay; Informal writing.  9. Style: Direct and critical examination of the social and cultural issues.  

The christian faith Literature review Example | Topics and Well Written Essays - 2500 words

The christian faith - Literature review Example Schleiermacher asserts that the Church is  nothing  rather than a spiritual  union  in  association  to  piety. It is not a knowing and not even a doing; rather, it is an  alteration  of feeling, or of  instantaneous  self-consciousness. In this case,  feeling  is employed  in a scientific  manner  in order to  portray  a  clear  mental  state  within self-consciousness without including the  unconscious  phases. According to Schleiermacher, a feeling that comprises of not knowing or Doing tends to be the  real  meaning  of piety (Schleiermacher 1928, p.10).  On the other hand, knowing, and doing are  relevant  to  piety, and this is a  phase  that merges them with a feeling.  However,  piety  continues being a  distinctive  feeling,  exclusive  amongst all the other feelings since it is the  conscious  that is  wholly  dependent. The feeling of dependence tends to expresses an  interest  that   is affected  by some exterior forces, yet  merely  the  feeling  of dependence tends to be complete.  Schleiermacher articulates that feelings of  complete  dependence on God are the greatest  level  of  instantaneous  self-consciousness, which turns out to be a significant  factor  human  nature. ... Each  communal  piety contains an  outward  unity, as well as an inward unity. According to Schleiermacher, outward  unity  defines the characteristic origin of every religion, while, on the other hand,  inward  unity is the  weird  type that the religious emotions, as well as their utterances  undertake  in every. Therefore, any declaration of God that is to be operational within a person expresses the relationship between God and people, as well as  human  incompleteness in relation to God. Christianity tends to be a monotheistic  faith  differentiated by the fact that everything contained in it connects to the salvation brought about by Jesus of Nazareth (Schleiermacher 1928, p.52). The only  way  of gaining involvement in the Christian communion is through having faith in Jesus since he is the Redeemer. In The Christian Faith, Schleiermacher asserts that there is no midway between  faith  and the partaking in the Christian communion; faith in this case being dependant not just on the impulsive activity of human beings changing into believers, but also on the impulsive action of the communion, as the  root  under which the  testimony  goes ahead in the initiation of faith. The Christian Faith brings out the issue of Christian doctrines, which are descriptions of Christian  religious  love, which  is illustrated  in  speech  (Schleiermacher 1928, p. 76). Schleiermacher makes a distinction between the dogmatic suggestions and Christian sermonizing, by describing the former as beliefs of moralistic kind, and the latter as  primarily  the  speech  and  appearance  that contain a  directly  inspiring  effect. Therefore, a person turn into a pro of Dogmatic

Relflection Paper Essay Example for Free

Relflection Paper Essay When enrolling into a new class, it is normal to have expectations. I am excited and nervous at the same time. I understand that the upcoming semester will provide many challenges I will have to face. I am excited to see how I will grow academically over the course of the semester. I find myself eager about learning new things and refreshing my knowledge on things I have forgotten. It has been a long time since I have studied the growth and development of humans. I have strengths to bring to this class as well as weaknesses that I plan to work on during this class. By the end of this course I expect to be able to apply what I learn in counseling and become a better writer. While this class will be more stimulating than what I have been used to I hope that with the help of my classmates and my professor I can make this class a positive learning experience. During my undergraduate career, I took many psychology classes involving the human development. In one of my undergraduate classes, Lifespan Development, we went through the lifespan of people from birth until death. I took this class online and the class involved a lot of self-teaching. Because the class was online, assignments consisted of mostly online tests. While I learned a lot, I do not feel as if I learned all that I could. I am looking forward to taking this class on a more challenging level and having a deeper understanding in human growth and development. One of my biggest weaknesses is engaging in class discussions and presentations. Although I have an extroverted personality, I am very shy when it comes presentations. It takes time for me to get comfortable speaking in front a group of people. While doing presentations and engaging in class discussions, I get very nervous. In this class, a big part of my grade comes from this. Therefore, in this class I expect to get over my fear of public speaking. I hope that with the help of my professor I gain confidence about speaking in front of groups of people. I want to be able to take what I have learned in this class, apply it to counseling and also have a better understanding of what I have learned. This class will be an introduction of what to look forward to for the next three years. I am not used to writing papers and having to do so much reflective thinking. I believe this experience will help me become a better writer. In order for me to achieve all of my expectations, it is important that my professor help me when I need it, challenge me and give me constructive critism. In addition, if I want to take all that I can from this class it is imperative for me to give this class all that I have and spend time reading and completing my projects. I know that during this semester, there will be challenges but with the instruction of my professor, I plan to grow in my profession.

Product Life Cycle Essay Example for Free

Product Life Cycle Essay Definition: Products come and go. A company’s challenge is to hold on to its customers longer than it holds on to its products. It needs to watch the market life cycle and the customer life cycle more than the product life cycle. Someone at Ford realized this: â€Å"If we’re not customer driven, our cars won’t be either.† One selects marketing tools that are appropriate to the stage of the product’s life cycle. For example, advertising and publicity will produce the biggest payoff in the introduction stage of a product; their job is to build consumer awareness and interest. Sales promotions and personal selling grow more important during a product’s maturity stage. Personal selling can strengthen customers’ comprehension of your product’s advantages and their conviction that the offering is worthwhile. Product Development and Life-Cycle Strategies: In the face of changing customer needs, technologies and competition, product innovation or the development of new products has become vital to a companys survival. Introducing new products, however, is not sufficient. The firm must also know how to manage the new product as it goes through its life cycle: that is, from its birth, through growth and maturity, to eventual demise as newer products come along that better serve consumer needs. This product life cycle presents two principal challenges. First, because all products eventually decline, the firm must find new products to replace ageing ones (the problem of new-product development). Second, the firm must understand how its products age and adapt its marketing strategies as products pass through life-cycle stages (the problem of product life-cycle, strategies). We therefore look initially at the problem of finding and developing new products, and then at the challenge of managing them successfully over their life cycles. Innovation and New-Product Development: Given the rapid changes in taste, technology and competition, a company cannot rely solely on its existing products to sustain growth or to maintain  profitability. The firm can hope to maintain market and profit performance only by continuous product innovation. Product innovation encompasses a variety of product development activities product improvement, development of entirely new ones, and extensions that increase the range or number of lines of product the firm can offer. Product innovations are not to be confused with inventions. The latter are a new technology or product which may or may not deliver benefits to customers. An innovation is defined as an idea, product or piece of technology that has been developed and marketed to customers who perceive it as novel or new. We may call it a process of identifying, creating and delivering new-product values or benefits that were not offered before in the marketplace. In this chapter we look specifically at new products as opposed to value creation through marketing actions (such as product/brand repositioning, segmentation of current markets). We also need to distinguish between obtaining new products through acquisition by buying a whole company, a patent or a licence to produce someone elses product and through new-product development in the companys own research and development department. As the costs of developing and introducing major new products have climbed, many large companies have decided to acquire existing brands rather than to create new ones. Other firms have saved money by copying competitors brands or by reviving old brands. These routes can contribute to a firms growth and have both advantages and limitations. In this chapter, we are mainly concerned with how businesses create and market new products. By new products we mean original products, product improvements, pnxhict modifications and new brands that the firm develops through its own research and development efforts. Risks and Returns Jri Innovation Innovation can be very risky for a number of reasons: 1. New-product development is an expensive affair it cost Tate Lyle around  £150 million to develop a new sugar substitute; pharmaceutical firms spend an average of . £100-50 million to develop a new drug; while developing a super-jumbo project could cost billions. 2. New-product development takes time. Although companies can dramatically shorten their development time, in many industries, such as  Pharmaceuticals, biotechnology, aerospace and food, new-product development cycles can be as long as 10-15 years. The uncertainty and unpredictability of market environments further raise the risks of commercialization. Roots had to withdraw Manoplex, a heart drug, less than a year after its launch in the United Kingdom, after a trial on 3,000 patients in the United States and Scandinavia suggested an adverse effect on patient survival. The pharmaeeudeals division lost about  £200 million on the drug, which cost nearly  £100 million to develop over a period of 12 years, and about S20 million was spent on promoting and marketing it. 3. Unexpected delays in development are also a problem. History is littered with grand pioneering engineering projects which have failed to satisfy the original expectations of bankers, investors and politicians. The Seikan rail tunnel, connecting the island of Hokkaido to mainland Japan, was completed 14 years late and billions of pounds over budget; the S10 billion cost of the Channel tunnel, which opened on 6 May ] 994, a year later than originally planned, is more than double the  £4,8 billion forecast in 1987. 4. The new-product success record is not encouraging either. New products continue to fail at a disturbing rate. One recent study estimated that new consumer packaged goods (consisting mostly of line extensions) fail at a rate of 80 per cent. The same high failure rate appears to afflict new financial products and services, such as credit cards, insurance plans and brokerage services. Another study found that about 33 per cent of new industrial products fail at launch. Despite the risks, firms that learn to innovate well become less vulnerable to attacks by new entrants which discover new ways of delivering added values, benefits and solutions to customers problems.

LOreal company Project analysis

LOreal company Project analysis Many cosmetic brands are popping up recently, perhaps, due  to  the increasing consumers of products that beautify and enhance the physical appearance of a person. Even though the market is already full of the said cosmetic brands, the company LOreal Groups could still  be considered as the leading supplier cosmetics and hair-color. (LOreal Introduction profile) Company Profile   Before the facial cosmetics, LOreal was known as a hair-color formula developed by French chemist Eugene Schueller in 1907. It was then known as Aureole. Schueller formulated and manufactured his own products which were sold to Parisian hairdressers. It was only in 1909 that Schueller registered his company as Societe Francaise de Teintures Inoffensives pour Cheveus, the future LOreal. Scheuller began exporting his products, which was then limited to hair-coloring products. There were 3 chemists employed in 1920. In 1950, the research teams increased to 100 and reached 1,000 by 1984. Today, research teams are numbered to 2,000 and are still expected to increase in the near future. Through agents and consignments, Scheuller further distributed his products in the United States of America, South America, Russia and the Far East. The LOreal Group is present worldwide through its subsidiaries and agents. LOreal started to expand its products from hair-color to other cleansing and bea uty products. The LOreal Group today markets over 500 brands and more than 2,000 products in the various sectors of the beauty business. Such includes hair colors, permanents, styling aids, body and skincare, cleansers and fragrances. Indeed, the LOreal Group has reached the peak that all cosmetic brands sought after. Many factors contribute to the success of the Company. These will be discussed further in the proceeding parts of this study. (LOreal Introduction profile) http://photos7.flickr.com/8100492_df5327a9c4_m.jpg Since October, the most famous general public cosmetics brand, LOreal Paris, launched its products for men named: Men Expert. LOreal group already sold a range of cosmetics products for men with Biotherm or Lancà ´me brand for example, but it was the first time it launched these products with LOreal brand. With seven different products, LOreal Paris wants to touch all targets: Young men with their skins problems, adults men with their first tiredness signs but also matures men with their first wrinkles. LOreal Paris suggests as well specifics products for men such as shaving products or after-shave lotions. The prices of this range are between 2, 80 and 9, 95 à ¢Ã¢â‚¬Å¡Ã‚ ¬. They are reasonable because these products are marketed for general public. (LOreal Introduction profile) Global branding LOreal is a good illustration of how global branding can be used to generate new growth opportunities without in any way reducing responsiveness to local needs. LOreal has a portfolio of popular brands that embody their country of origin. The French company believes that two beauty cultures dominate the French and the American. The two flagship brands, LOreal and Maybelline, have distinct positions. LOreal is positioned as a French product, with supreme elegance, high prices and sophisticated packaging. Maybelline on the other hand, represents an American value for money product which is perceived as street smart and attempts to convey the urban American chic.Owen Jones feels that creativity in a large organization such as LOreal can be stimulated through competing brands2: It sets one research centre against another research centre, one marketing group against another marketing group. They fight among themselves and in so doing, we hope, also beat the competition. In line with this philosophy3, LOreal has set up two creative headquarters, one in Paris and the other in New York. Owen Jones explains: (LOreal policy) We set up a counter power in New York with people that have a totally different mindset, background and creativity. The two hubs undertake collaborative research efforts but are competitors when it comes to marketing. LOreals American brand, Redken, competes with Preference, the companys brand in France. Owen Jones feels that healthy competition will motivate the French and American companies to perform even better. (LOreal policy) Table I LOreal: Summarized Profit and Loss Account (Figures in $ Million) 1999 1998 1997 Sales 10,825 13,417 11,522 Gross Profit 3,733 4,864 4,298 Net Income 702 839 664 Net Profit Margin (Percent) 6.5 6.3 5.8 LOreals global marketing efforts have been spearheaded by Owen Jones himself. Press reports describe his habit of moving around on the streets in overseas markets, trying to understand customer needs. Owen Jones says*: We have this great strategy back in the head office of how we are going to do it worldwide. But when you go out and look at what is happening, is there a big gap between your projections and the reality of what you see and hear? It is so important to have a world vision because otherwise decentralized consumer goods companies with many brands can fracture into as many little parts if somebody isnt pulling it back the other way the whole time with a central vision. (LOreal policy) Table II LOreal: Geographic Segment Information (Sales for 1999) $ Million Percentage of Total Western Europe 5,995 56 North America 2,972 27 Other regions 1,837 17 Total 10,804 100 Having already established itself in Europe and the US, LOreal is now seriously looking at emerging markets. Its acquisition of Soft Sheen is expected to help LOreal to penetrate the African markets. L Oreal has been rapidly expanding in India since it set up shop in 1997. It is already the market leader in Mexico. LOreals experience in China reflects some of the challenges it faces in emerging markets. The companys move to use the glamorous Chinese movie star, Gong Li to sponsor its products has not paid off. Looking back, some analysts feel that LOreal should have preferred a sponsor with the girl next door looks as ordinary customers could not relate to Gong Li. When the movie stars contract came up for renewal, L Oreal decided to involve other sponsors in place of the earlier exclusive arrangement. One important market where LOreal continues to be weak is Japan, the second largest cosmetics market in the world with annual sales of about $ 25 billion. Among the problems which the company faces in Japan are the countrys complex distribution network and strict health and safety regulations. LOreal recently regained control of Maybelline from local cosmetics maker Kose which had purchased the rights prior to LOreals takeover. Notwithstanding these problems in Japan, LOreal seems well placed to continue its global thrust. The French company has seen double digit growth for the last 10 years. As Business Week has reported, LOreal has developed a winning formula: a growing portfolio of international brands that has transformed the French company into the United Nations of beauty. (LOreal policy) LOreal: The Global Presence Marketing Strategies Customer Satisfaction (Product; Price) The LOreal Group is known for their continuous innovation in order to improve the quality of their products and the services they have to offer to their consumers. Part of their strategic plan is to cater to the best interest of their costumers, in other words, costumer satisfaction. Through giving a wide variety of products, consumers have a whole gamut of products and services that they can choose from and which best serves their preference. The range of their prices caters to the demands of women, from the younger ones to the aging, from the affluent to those with lower budget for cosmetic products. Through constant research and passion for innovation, the LOreal Group best caters to the demands of women of different cultures. The Company also sees to it that they know the latest trend, or better yet, set the trend in the market as to attract more consumers. (Padambanam, 2010) Control of the Company A very vital aspect in the success of a company is how their leaders handle and run the business. In fact, the LOreal Group is very particular in the governance of the Company. The Board directors and the Board members are well aware of all of their duties required by their respective functions and of their collective mission, for it is in their hands that the Companys future depends on. The Board members are also obliged to act with due care and attention to their duties in order to carry out their responsibilities. (Padambanam, 2010) Worldwide Marketing (Place of Distribution; Promotion) Part of the LOreal Groups strategic plan is the marketing of their products worldwide. From the bloom of LOreal during its primary stage, the Company already catered to the demands of women worldwide. In line with this, they are also well aware of the diversities of women around the world. Part of this strategy is to formulate products that suit other women from other parts of the world. Through research and development of their products, the LOreal group has already covered most parts of the globe and still got high approval ratings from their clients. Just recently, the LOreal Groups received the Diversity Best Practices 2004 Global Leadership Award for embracing diversity, not only in their employees, but also in their consumers (Anonymous, 2004). The Companys taking consideration of women of color is especially appreciated by its consumers for they are also being given the chance to enhance their features and embrace their diversity without having to conform with the traditional concept of beauty, particularly that of the white Caucasian women. The LOreal Group also has employees who are considered minorities, such as the women and people of color. Valuing of the peoples culture and ideas is important to the LOreal Group, in order to best serve the interest of the consumers, the employees and the Company. (Padambanam, 2010) D. Impeccable Advertising (Promotion)   During the early days of advertising, LOreal commissioned promotional posters from various graphic artists to publicize the Companys products. The 1950s brought about a new advertising medium, particularly the movies. LOreal made its on-screen debut during this period and in 1953 won an award advertising Oscar, the first in a long series of awards. Today, LOreal takes on actresses or different personalities of all ages that best exudes the vision of the Company. Famous personalities enable average individuals to relate to their personal lives, that they can look as good, and so ensures higher sales. (Padambanam, 2010) Example Marketing in India In business, as in life, its important to be in the right place at the right time and thats clearly been the aim of French cosmetics giant LOreal in India. LOreal Paris, Lancome and Garnier tried and tested a variety of innovation and marketing strategies that appear to have paid off. Today, LOreal reportedly has 41.5 per cent share of the market in India for hair conditioner, around 20 per cent for hair coloring products, and 6.5 per cent and 4.6 per cent for the skincare and shampoo markets respectively. Meanwhile, it is the countrys leading player in the salon products sector. Different strategies of marketing of products in India:- (Padambanam, 2010) Going Local Garnier mens product For its consumer products brands Garnier and LOreal Paris, adapting to local culture and preferences has been critical. Increasingly our blockbusters have been India innovation-led products, .Garnier redesigned its Excellence hair-coloring product that involved more manual work to mix the dye. But at a quarter of the international retailing price, it meant new consumers were more willing to buy the product. Other successes include an oil-based shampoo, Garnier Fructis Shampoo + Oil, to match the frequent use of hair oil, as well as products for previously-dormant segments such as anti-wrinkle creams and mens skincare Growing the customer base In the emerging markets, product penetration is low, providing generous room for growth.  Theres a huge growth and a desire to consume even within segments that have a lot of usage like shampoos, there is a desire to upgrade to performing products. In India there is a heterogeneous market and each one has its own preferences. On all fronts, the growth is very high. Consumer goods are also showing healthy growth rates of about 15 percent. (Padambanam, 2010) Segmenting markets   Luxury products may be selling in Indias cosmopolitan cities like Delhi, Mumbai and Bangalore, but their small customer base also makes them highly competitive markets, whether for cosmetics, fragrances or accessories. . Additionally, there is a very large opportunity in the middle market where consumers want to consume but not at very high price points, a challenge for international players like LOreal that face brutal competition from successful local brands like Marico and Dabur India and consumer goods giant Hindustan Unilever. (Padambanam, 2010) ANSWER 2 LOreal Policy LOreal is required to have an understanding of its different cultural distinctions: à ¢Ã¢â€š ¬Ã‚ ¢ Reflect consumers diversity of origins within teams at every level In terms of nationality, ethnic or social origin, age, while maintaining standards of excellence in terms of competencies. à ¢Ã¢â€š ¬Ã‚ ¢ Promote gender equity within teams Promote the access of women to positions of responsibility, facilitate gender equity in functions that are currently over-staffed by men or women (Marketing, Industry), and ensure equal treatment in terms of salary. à ¢Ã¢â€š ¬Ã‚ ¢ Encourage the employment people with disabilities. à ¢Ã¢â€š ¬Ã‚ ¢ Valorize work experience in anticipation of a longer work life. à ¢Ã¢â€š ¬Ã‚ ¢ Develop an inclusive managerial culture, respectful of all. Diversities Matrix LOreal based its approach on a Diversities Matrix, composed of 6 priority dimensions and 7 action levers: (Padambanam, 2010) http://www.loreal.com/_en/_ww/html/company/Img/diversity/matrice.jpg Translating Commercial Websites: LOreal has links to numerous country specific website Again a very good example of global marketing strategy.The Web is not only a new channel for information exchange but also a powerful instrument for businesses to reach potential customers. With well-maintained multilingual websites, a company can not only project its image across borders but also sell goods online without the material presence of a shop front (Malaval, 2001 p.204). Commercial websites are seen as a necessary marketing move to reach out to visible and invisible customers in a real as well as avirtual world. The following discussion of commercial website translation takes into account the interaction and interdependence of three elements, namely the Web, translation and advertising. On at least two counts the translation of commercial websites coincides with advertising translation. First and foremost, advertising and websites are in essence mass communication devices in modern society. Therefore it is crucial to take into account elements of advertising translation i n order to investigate website translation. (LOreal Introduction profile) C:UsersKanikaAppDataLocalMicrosoftWindowsTemporary Internet FilesContent.WordNew Picture.png The figures above are the homepages of LOrà ©al websites in English and Chinese languages. These images suggest that there are at least two templates for websites, with figure 1-1 and 1-3 sharing the same layout and the other two another. The figures of different LOrà ©al websites offer certain guidance for the discussion. First of all, the verbal elements are undoubtedly an important aspect in the investigation of translational activity. Nonetheless, the layout and other non-verbal elements altogether provide insight into whether or not images/meanings are translated. In figures 1-1 to 1-4 for instance, the spokesperson and color scheme are very obvious differences. In the global website, the spokesperson in the homepage is a scientist who won a competition sponsored by the company. Clearly the image involved here aims to promote a recent campaign and is thus placed in the eye-catching place, indicating the companys intention to create a positive and involved corporate image. Yet it is important to be aware that this is a temporary promotional event and the image can be replaced anytime after the promotional period. The images of the spokesperson in the Taiwan and Hong Kong websites are the same, featuring an actress based in Hong Kong. The spokesperson in the simplified Chinese website, however, is yet another Chinese actress with whom the local audiences are more familiar. Aside from the image appearing on the homepage, the logo of the company is placed differently in the two templates. The template of the global website presents the logo at the upper-left corner, whereas the Hong Kong website template has the logo occupying nearly one-third of the webpage. (LEE, 2009) Conclusion: In business, as in life, its important to be in the right place at the right time and thats clearly been the aim of French cosmetics giant LOreal in India For nearly two decades, the owner of brands like Maybelline, LOreal Paris, Lancome and Garnier tried and tested a variety of innovation and marketing strategies that appear to have paid off. Today, LOreal reportedly has 41.5 per cent share of the market in India for hair conditioner, around 20 per cent for hair colouring products, and 6.5 per cent and 4.6 percent for the skincare and shampoo markets respectively. Meanwhile, it is the countries Innovating for a local market, both with product and pricing, as well as an aggressive marketing strategy, have proved particularly effective, says Dinesh Dayal (MBA 84J), LOreal Indias chief operating officer. Its really a mixture of intuition, hard market research and the power of our global RD which yielded the right kind of innovation.

A Seperate Peace, by John Knowles :: essays research papers

A Separate Peace was written by active author John Knowles from his real experiences and personal struggles. Knowles attended Phillips Exeter Academy, an exclusive New Hampshire prep school, for two summer sessions in 1943 and 1944. This book vaguely outlines his experiences at Exeter with himself as the main character but under the name of Gene Forrester. Knowles' novel tells the somber story of a young man's struggle to escape from himself and his world; to achieve a special and separate peace. The primary setting of A Separate Peace is at the Devon School. The exact location of this school is not known in terms of a state, but it is identified as being in the South, sitting between a freshwater and a saltwater stream. The bulk of the story takes place in the years of 1942 through 1944 at the same time as World War II, but the beginning and end of the book consist of Gene looking back on his years at the Devon School 15 years after he had attended it. A Separate Peace considers two conflicts: man against man and man against himself. Early in the story Gene believes that his problems lie within his best friend Phineas (Finny), but later he realizes that his conflict is internal. Misplaced jealousy, fear, love and hate fight for control of Gene's actions. When the dark side of him wins for a brief moment and he pushes Finny out of a tree it ends his man against man conflict and makes Gene realize that Finny's intention has never been to sabotage him. He had only wanted to have a close and meaningful relationship with his best friend, but their relationship was forever scarred by Gene's betrayal. Gene also learns that people destruct themselves all of the time for no reason, believing that others are enemies when they actually are not.. This can be observed in the last lines of the book when Gene states, "All of them, all except Phineas, constructed at infinite cost to themselves these Maginot Lines against this enemy they thoug ht they saw across the frontier, this enemy who never attacked that way -if he ever attacked at all; if he was indeed the enemy." The climax of the story occurs when Gene and Finny finally have a two-sited discussion about the incident at the tree. This tear-filled conversation makes each boy realize how much they actually care for each other.

The Dystopian Future of William Gibsons Neuromancer Essays -- Neuroma

The Dystopian Future of Neuromancer In reading a text like this one can look at it through the formalistic approach and gather aspects on different perspectives. In HCAL it instructs a reader to analyze a specific text by seeing the setting, certain styles, imagery, form, and texture. In William Gibsons book Neuromancer all these approaches can be seen. The novel takes place in the future and how Gibson portrays it will be. Every place is dark and gloomy with an illusion of dystopia; despair and unhappiness. Gibson's structure is very hard to follow, such as how he is repetitive with the description of people and the color pink. Neuromancer, a book that brings the belief of the future to life, speaks of the use of technology and how advanced it will be. Gibson illustrates a place of dystopia, where everything is dark and full of despair. There seems to be no control over people and who they kill. The place were all dystopia occurs is in cyberspace. The opening line seems to be Gibson's way of preparing the reader for what is to come; "The sky above the port was the color of television, tuned to a dead channel."(Gibson 3) Here one sees the imagery that Gibson uses. He begins by bringing death and dismay in to the readers mind. One can picture a television that is black and fuzzy because the channel is not tuned in, the way the sky is. This is nothing like our sky; blue and bright. Rather like that of a gloomy rainy day, black and not appealing. Further in the book Gibson talks where the people live and sleep, places called "coffins." He describes the coffin's size, "the r... ...epetition of the color pink to describe things, brings a sort of humanistic quality into the work. It makes one see that all though the characters in the story are living in cyberspace, they do have human qualities. To approach this book from all these angels brings a new outcome of the novel. Gibson sets up the book from the beginning with the scene of dystopia, and continues it throughout the entirety of the novel. The greatest image of dystopia I found in this novel, was all the deaths that occur without a second thought about it. Using the formalistic approach to pick out these certain images in the novel, helps the reader see what exactly is going on. With the words that Gibson uses puts a pictured image in the readers mind as they go along; the image of DYSTOPIA.

School Should Begin Later in the Day :: Argument Argumentative

School Should Begin Later in the Day   Ã‚  Ã‚  Ã‚  Ã‚  Many teenage high school students are tired during the school day, distracting them from their studies. That is just one of the many good reasons that the starting time of school should be later in the day.   Ã‚  Ã‚  Ã‚  Ã‚  Some people may say that the brain not being fully functional until 9:30 is just a matter of opinion. Studies have suggested that the average adolescent brain doesn’t even start to fully function until around 9:30 am. Many schools already use the suggested later arrival time, so there students can be ready to learn when they arrive at school.   Ã‚  Ã‚  Ã‚  Ã‚  Another thing that everyone knows or remembers about high, school is all of the homework that needs to be done for tomorrow. Plus projects that are due, persuasive essays that need written, and the time you need to be a teenager. Most students even have so much work that they’ll stay up all night just to get it done. When needing a minimum of 9 hours of sleep as a teenager, getting up at 6:30 to be ready for school is just not enough time. It’s easy to think that students will just procrastinate even more, but the average teenager is smarter than you may think.   Ã‚  Ã‚  Ã‚  Ã‚  It sounds absurd to think that students sleep during the school day. The fact is that many students fall asleep during class. Remember that sleep isn’t something you can make yourself not want. Throwing water on your face, listening to loud music, or taking a shower cannot make your bodies craving for sleep disappear. The fact is puberty demands more sleep.   Ã‚  Ã‚  Ã‚  Ã‚  There are also risks involved with not getting enough sleep. Most people will be very sleepy and drowsy during the day, mood and behavioral problems, and even increased vulnerability to drugs and alcohol. These things could also develop more into serious sleeping disorders. Experts advise to not read or

Health Literacy Impact On Health Health And Social Care Essay

Health literacy is defined as â€Å" The grade to which persons have the capacity to obtain, procedure, and understand basic wellness information and services needed to do appropriate wellness determinations † ( Michael K. Paasche-Orlow, 2010 ) , the word Health literacy was foremost appeared in 1974 in a paper which calls for â€Å" instruction criterions for all grade school degrees in USA † ( Carolyn Speros, 2004 ) . Some recent plants suggest that there is a relation between literacy, low wellness and premature deceases ( Christina Zarcadoolas et Al, 2005 ) .Awareness on Health literacyThe construct of wellness literacy was foremost originated in early old ages and it was recognised as an independent research field in 1990s ( Andrew pleasant and Shyama Kuruvilla, 2008 ) . The consciousness on the wellness and the literacy is often raising, and several authoritiess are implementing assorted national programmes to raise literacy degrees and wellness criterions. The au thorities and some administrations are implementing wellness consciousness programmes in the community, and they promote them through media societal selling through printed stuffs. However, people who can read booklets and printed text can merely cognize the information in it. So accessibility to wellness information is a cardinal factor among every person in community, which can be achieved by wellness literacy ( Heather and Lisa Langille, 2006 ) . There are so many states holding low literacy rates. Heather and Lisa Langille ( 2006 ) stated that literacy is the indispensable BASIC for wellness literacy and person ‘s life reflects the relationship with wellness and literacy. WHO Commission on the Social Determinants of Health recognised that, literacy as holding a cardinal function in make up one's minding wellness inequalities in both developed and undeveloped states. Even a rich state has fewer literacy accomplishments among persons, which may connote hapless wellness cognition every bit good. The ratio of people missing of operational literacy in single states of Organisation for Economic Co-operation and Development ranges about from 7 % to 47 % ( UN Development Program, 2007 ) .Appraisal of Health literacy and its resultHealth literacy can be estimated through, Rapid Estimate of Adult Literacy in Medicine ( REALM ) and the Test of Functional Literacy in Adults ( TOFHLA ) . Even so, Andrew pleasant and Shyama Kuruvill a, 2008, argues that none of these make sense of an appropriate measuring of wellness literacy. The Trial of Functional literacy in grownups merely concentrates on single capacity to read the medical information on some medical faux pass and labels. Rather than there are tonss of research works done on the subject of wellness literacy and its attack in public wellness, which provides best illustrations along with good information and major accomplishments.Health Literacy and its impact on single wellnessThe jobs associated with the wellness literacy have been identified by the research workers in the last 10 old ages. They came to cognize the function played by it in the medical every bit good as the person ego attention by the comprehension of information related to wellness and the results related to it ( Carolyn Speros, 2004 ) . The people withA hapless literacy degrees may be prone to hold bad wellness position and demo more unhealthy behaviors like inordinate intoxicant consumption and smoke ( San Diego, Calif 2004 ) .The People holding low wellness literacy may possessA weak communicating accomplishments on wellness related issues may take to improper diagnosing of their wellness status and inappropriate use of medicine and utilizing of wellness attention services provided by the authorities are besides misused. Which factors have the major impact on the wellness results of the persons? Don Nutbeam, 2008 have proposed three critical points where the wellness literacy shows its impact on community, they are making to the wellness attention services, Communication between the wellness attention staff and patients, and personal attention. The people with low wellness cognition might hold more opportunities to take an unhealthy life style due to the deficiency of minimal wellness consciousness on the bar ofA several infective diseases, A properA utilizing of the inoculations and hapless direction of assorted unwellnesss, and there is a more opportunity of geting diseases because wellness result wholly depends on self direction of the patient. The people with low literacy accomplishments are passing four times more outgo on their wellness attention, harmonizing to some estimations in United States more than 75 % of people holding chronic mental or physical unwellness comes under hapless literacy class ( Marie Ivnik and Maureen y, 2008 ) . A individual with the ability to read and understand the basic degree wellness issues have the capacity to do usage of wellness attention services, and they can pull off their wellness by lifestyle alteration and by increasing their life criterions at an single and community degree ( D on Nutbeam, 2008 ) . Health literacy improves the populace to entree available information of wellness and the ability to give appropriate feedback on his ain wellness position, determination doing on wellness and can take a disease free life style which lessens the frequent visits to infirmaries ( Carolyn Speros, 2004 ) .Different ways to advance Health LiteracyAssorted consciousness programmes conducted by authorities such as national obliteration programmes in bar of Poliomyelitis, Malaria, Tuberculosis, etc. , and some consciousness programmes on maternal wellness, pediatric wellness, etc. are advancing wellness literacy by educating the people on diseases and its preventative method. Health literacy may be promoted through ocular media, printed stuff, and cyberspace beginnings. However, these beginnings sometimes do n't demo satisfactory results. The people who are nonreaders and who unable to utilize internet beginnings and those who can non read the printed information are mi sapplying these services. Egbert N and Nanna KM 2009, suggests that the wellness information should be made in a user friendly mode which is in an easy accessible mode which explicit information with ocular links. The best manner to advance wellness literacy is through the direct interaction by wellness attention suppliers with the people who can non read. Nurses and other wellness attention individuals should move as Health voluntaries and make a convenient environment so that the people can interact with wellness pedagogues and discourse on wellness issues, attempts are made to increase patient and physician interaction ( Tanya L and Al-Assaf, 2006 ) .DecisionHealth literacy plays a cardinal function on the overall wellness and well-being. Multiple factors like proper use of wellness attention services, communicating of wellness issues with wellness attention suppliers, taking healthy life style, A good hygienic conditions, taking preventative steps like immunization, which might demo to impact an person ‘s physical and mental wellbeingA A are straight or indirectly associated with wellness literacy. So it is suggested that advancing wellness literacy will do a healthy community, and it should be considered as a primary public wellness end.

Basic Sentence Structures And Samples

Using the four basic sentence structures in a written work is very important, first as a means of clarity of expression, and second as a means of adding dimension and variety to a written work. For instance, using only simple sentences such as â€Å"The woman eats everything she sees. † will not give continuity to a written work, and will make the work sound and look like an enumeration of things, just a list of everything with nothing to link each of these together.On the outset, it will make the written work ambiguous or difficult to understand. There should be a variety of sentences in a written work, so noticeably, if for instance, the above sentence is followed by a compound sentence like, â€Å"She eats everything but she also chooses what to eat based on her mood. † the above simple sentence acquires another dimension and thus, more clarity.Now if to these two sentences another sentence is added, a complex sentence, like, â€Å"She opens her mouth every time som ething edible is in sight until the item is too big for her mouth. † the idea expressed in the first two sentences becomes even clearer, hence, the function of clarity; and with the introduction of new ideas in the third sentence, more variety is achieved. Finally, with the addition of a compound-complex sentence, such as, â€Å"When she is full, the woman’s stomach distends immensely, and she stops eating.† the ideas come full circle and maximum clarity is achieved. The above sentences may therefore be written as follows. â€Å"The woman eats everything she sees. She eats everything but she also chooses what to eat based on her mood. She opens her mouth every time something edible is in sight until the item is too big for her mouth. When she is full, the woman’s stomach distends immensely, and she stops eating. †

Inside Job Documentary Film Essay

The ‘Inside Job’ film (documentary film) draws parallel views to the referenced text â€Å"Impact on Accounting† of this course coupled with the associated research executed during the past weeks with respect to understanding the cause of the financial crisis. The documentary film zeros in on the contributory factors of the financial crisis such as falling interest rates, securitization of home mortgages and credit default swaps (derivatives). Other stunning contributory factors expressed in the documentary film were greed in addition to the deregulation and an unsupervised financial industry by the Federal government. Snyder (2011) reported that, â€Å"There have been several deregulations in the financial and housing markets over the past 30 years. Some of these include The Depository Institutions Deregulation and Monetary Control Act, the Federal Home Loan Bank Board establishing adjustable mortgages, the 1982 Garn-St Germain Depository Institutions Act establishing a secondary mortgage market, the repeal of the Glass-Stegall Act allowing commercial and investment banks to merge, and the 2004 SECs deregulation of investment banks, allowing investment banks to increase their leverage ratio from 12:1 to 30:1.† (pages 1-16) After researching the cause of the financial crisis, though seemingly insignificant to some, one of the fastening screws that assisted in the great fall with respect to the financial industry was falling interest rates. During the early 2000s the United States economy began to slow down and in an effort to rejuvenate this downward condition the Federal Reserve introduced a stimulation project to cut interest rates to induce customer spending. Investors took advantage of this stimulus exercise as the return on mortgage backed securities was attractive and as a result there was a boost and desire to purchase such securities. Consequently, lending  institutions became very excited as the demand for mortgage backed securities increased and thus the quest began to write more mortgages. Hence, the qualifying standards for loan approvals were done away with allowing a prospective home owner getting approval with ‘zero-down’. The introduction of no payment down increased the likelihood of failure to pay by borrowers and this default risk thereof was disregarded. Another supporting aspect of the documentary film with respect to the cause of the financial crisis was securitization. Historically during the safe age, a home mortgage was a loan contract between the borrower and financial institution which was supported by tangible property used as collateral. Such loans would be held until the full loan obligation has been satisfied in the long term. Conversely to the days of old, financial institutions sought new innovative means to generate income and came up with securitization of home mortgages. In this sense, during the 1990’s, home mortgages were not held to maturity but instead the high risk home mortgages were, bundled, repackaged and resold creating mortgage backed securities whereby income is received when homeowners satisfied their home mortgage obligation. Despondently, when borrowers defaulted on their home mortgages, investors suffered dearly as losses were realized, consequently, financial institutions collapsed and unemployment rose above its usual average rate. Other research has concluded that derivatives also played a chief role in the financial crisis. Derivatives are financial contracts between two parties of which the value can derived with not affiliation to the good or service. For example, a buyer can purchase an option agreement to buy a good or service in the future at an agreed price within a specified time frame. Within the given period the buyer may exercise the right to purchase or chose not to upon weighing the benefits of the option contract with the current market conditions. One type of derivatives that aided in the financial crisis was credit default swaps (CDS) which allowed investors to participate in naked CDS purchases without having legal ownership of the insured property. CDS is an innovative and prevalent derivative which is similar to an insurance contract that permits investors to transfer risk to other parties who are more qualified and willing to bear it, thus making it very attractive risk mitigation tool. CDS became extremely popular and experienced an unprecedented demand up to the latter part of 2007. However, since the derivatives market was not regulated companies such as AIG which sold billions of swaps without collateral or reserves to satisfy potential losses. According to Hobbs (2011), at the end of 2007 AIG credit debt obligation totaled $562 billion which was shockingly ironic that an insurance company would fail to hedge such substantial risk. Charles Ferguson’s award winning documentary film ‘Inside Job’ narrated by Matt Damon surveyed the deregulation of the financial industry and explored how the lack of good ethical banking practices assisted in creating the financial crisis. This jaw dropping documentary in its fearless interviews and prying identified greed and deregulation by the Federal government as principle causes of the financial crisis. At the twilight of 1981 the Ronal Regan administration made the deregulation of the financial industry top priority and the highest order of business in an effort to restore economic prosperity. Froese (2011) stated that, â€Å"The campaign trend of deregulation was followed through by the Bill Clinton and George Bush administration team.† (p. 59-75). According to Maxwell (2011), â€Å"The documentary film sets out to prove the idea by first pointing to the 1980s, when deregulation of the financial industry in the US allowed banks and loan companies to begin taking bigger risks with depositors’ money.† (p.16) The documentary film exposed the recycling of top bank executives being integrated into key government positions even after having full knowledge of misconduct and unethical behavior driven by greed. The greed for lavish lifestyle such as having six airplanes, helicopters, yachts, beachfront homes and penthouses was evident in the documentary film. Apparently, the more money top bankers earned the more they seem to want. The root of this greed was driven by huge compensation and hefty bonuses. According to Ferguson (2010), Richard Fuld the CEO of Lehman Brothers actually was hardly ever seen on the trading floor as he went out of his way to avoid contact with other employees even to the extent of extent of installing a personal elevator that took him to his office undetected. These chief top guns even went to the extent to cheat the government of taxes by understating their  income. Sterngold (2011) reported that, â€Å" Oliver Budde, a former lawyer for the financial services firm Lehman Brothers, has charged that the bankrupt company’s former Chief Executive Officer (CEO) Richard S. Fuld lied to Congress when stating the amount of his salary and other compensation from 2000-2007. Budde, whose duties included preparing Lehman’s financial statements on executive salaries, says that Fuld understated the amount of his earnings by hundreds of millions of dollars.† (p, 56-59). Under the Regan administration CEO of the treasury, ML Donald deregulated the Savings and Loans which created a platform for unsafe investments by allowing hundreds of financially dead institutions to continue to operate while making more risky loans. Within 10 years hundreds of Savings and Loans companies became insolvent which resulted in 124 billion dollars of tax payers’ money. Greenspan supported Charles Keating’s business plans verifying that they were sound, proficient and without risk. It was later discovered that Keating who owned one of the Savings and Loans companies in California, used investors’ money to support his personal company and eventually went to prison as a result. While on the other hand, Greenspan was promoted appointed as president of the Federal Reserve by Ronald Ragan and was reappointed by Clinton and Bush administration to police the big bucks. It was also alleged that Greenspan received a kickback of 40,000 for validating Keating’s report Keating afloat in the industry. Deregulation continued under the Clinton administration congress overturned the Glass-Steagall Act by passing the Gramm-Leach Bliley Act which facilitated the Citigroup merger. Further, despite the cries to regulate the derivatives industry, Alan Greenspan in addition to other congressmen brought about the Commodity Futures Modernization Act banning all regulation in the derivatives market. Other new theories that developed from the documentary film were economists, credit rating agencies and top executives have all contributed to the financial crisis. It was unthinkable that reputable economists failed miserably to disclose any conflict of interest regarding their economic research report concerning economic trend. According to Ferguson (2010), economist Frederic Mishkin stated in his economic research report that  Iceland’s economy had already adjusted to financial liberalization and that while prudential regulation and supervision was quite strong, however, the banking industry in Iceland exploded shortly after the report. Frederic was paid $124,000 by the Iceland government to write the report even though the report proved to be very wrong. Another economist, Robert Glenn Hubbard former head of President Bush council of economic advisors, when asked whether there is and conflict of interest of economists he avoided the question and stated that most economist are not wealthy people. The documentary exposed him for having an annual salary of $150,000 as a board member of Met Life and that he formally served on the board of Capmark Financial Corporation, a mortgage institution that went bankrupt during the bubble. The documentary film brought the curtains down on credit rating agencies as it provided undeniable evidence of their involvement in the financial crisis . The three credit agencies namely, Standard & Poor, Moody’s, and Fitch misrepresented the credit rating of companies such as Lehman Brother, Merrill Lynch, AIG and Bear Sterns as they were all given credit rating of AA and above just weeks prior to becoming bankrupt. Questions were put to the governor of the Federal Reserve, Frederic Mishkin whether he was aware of excellent credit ratings and as in the past he danced around the question without providing clear answer. In 2008 Frederic Mishkin resigned in the height of the economic crisis and said that this coward move was owed to him reviewing some university book. Investors depend heavily on security rating for decision making. Clearly if a security has been classified as AAA and AA ratings, they appear to be as safe as government bonds. Instead, investors were deceived into investing in insolvent companies as a result of the ratings provided thereof. Continuing, top executives were also woven in the fabric of the financial crisis whereby top Chief Executive Officers walked away with top dollars. It is said that follow the money to solve the crime. The documentary film listed top guns such as Lehman Brothers CEO, Richard Fuld who reaped in 485 million, AIG’s CEO went smiling with earnings of 315 million and Merrill Lynch raked in 161 million of severance bonus. Other culprits named were Bear Sterns CEO and especially Goldman Sachs top executives. Apparently, these top executives had much knowledge of their falling companies and cooked the books so that investors would believe otherwise. What come out of the documentary film was that executives were rewarded for selling subprime mortgage investments as if it was top priority. Below are exhibits A and B and key players in the financial crisis: Exhibit A Major Players identifies in Week 2 Exhibit B Major Players in Inside Job Film 1. Homeowners 2. Financial / lending institutions 3. Wall Street 4. Federal Government 5. Securities Exchange Commission 1. Homeowners 2. Financial / lending institutions 3. Wall Street 4. Federal Government 5. Securities Exchange Commission 6. Economist 7. Credit Rating Agencies 8. Top Executives The new players pulled from the documentary film are economists, credit agencies and top banking executives. Economists were apparently paid handsomely to produce favorable reports of which most did not disclose their connected conflict of interest. Credit rating agencies also provided falsified rating to dying institutions and as a result investors were misinformed and consequently realized losses which could have been prevented. Lastly top banking officials were recycled throughout the government and other top ranking banks. They were driven by greed and  received compensation of up to 485 million dollars. Bringing it all together, I strongly believe that they were all in it together with the object to rape the economy of its finances and so they did successfully without being prosecuted. APA Format References Global Economic Crisis Resource Center (2010). Global economic crisis: Impact on accounting. Mason, OH: South-Western Cengage Learning Snyder, T. (2011). How did deregulation and financial innovations impact housing, wealth, and output?. Journal Of Finance & Accountancy, Hobbs, J. (2011). Financial Derivatives, the Mismanagement of Risk and the Case of AIG. CPCU Ejournal, 1-8. Ferguson, C. (Director) & Marrs, A. (Producer). (2010) Inside Job [Motion Picture]. United States: Sony Picture Classics Froese, R. (2011). THE LIMITS OF INSIDE JOB: CRISIS, IDEOLOGY, AND THE BURDEN OF CAPITALISM. Studies In Political Economy: A Socialist Review, (88), 59-75. Sterngold, J. (2010). Who Cares About Another $200 Million?. Bloomberg Businessweek, (4177), 56-59. Maxwell, C. (2011). Inside the crash. Director (00123242), 65(4), 16.