Osteoporosis

Abstract:As the world's population lives longer, the significance of osteoporosis and fractures increases.Introduction:Osteoporosis is an age-associated disease, which is influenced by genetic, epigenetic and environmental factors. Age is a high hazard factor for osteoporosis. Lack of vitamin D and insufficiency of calcium absorption are the most popular reason for the osteoporosis in the elderly. (Jakob et al, 2014)Jakob, F., Seefried, L., ; Schwab, M. (2014). Alter und Osteoporose. Der Internist, 55(7), 755-761.?Jakob F, e. (2018). [Age and osteoporosis. Effects of aging on osteoporosis, the diagnostics and therapy]. – PubMed – NCBI. [online] Ncbi.nlm.nih.gov. Available at: https://www.ncbi.nlm.nih.gov/pubmed/24903137 [Accessed 16 May 2018].It is mostly a disease of old age people. The prevalence of osteoporosis increase significantly with age and it is an independent risk factor for the improvement of osteoporosis and osteoporotic fracture. As indicated by National Health and Nutrition Examination Survey (NHANES) data the diffusion of osteoporosis based on reduce density of hip bone was estimated at 4% in women 50 to 59 years of age compared to 44% in women 80 years of age and older. The number of seniors in risk for osteoporosis will continue increasing with the aging of society. (Vondracek et al , 2009).Vondracek, S. F., ; Linnebur, S. A. (2009). Diagnosis and management of osteoporosis in the older senior. Clinical interventions in aging, 4, 121.? I choose this topic because when I was in clinical area I saw many old patient they came to do x-ray and when I read the justification I saw they have osteoporosis. So I want to know how the x-ray help to diagnosis this disease. In this assignment I will talk about first the principles of the osteoporosis, the equipment components required for carrying out the osteoporosis examination and their functions. Also, I will discuss the role of radiographer and technical and radiation exposure considerations of it. Finally, I will talk about one clinical example for osteoporosis patient with clear images.Principle:Osteoporosis was described as a pathological in which there is non-attendance of bone tissue, however that tissue which remains is completely calcified. Osteoporosis creates when bone resorption happens too rapidly and substitution happens too gradually. (Makhdoom, et al,2014) The older senior is at high risk for osteoporosis. It is important for healthcare providers to be fully aware of the potential risks and benefits of diagnosing and treating osteoporosis in the older senior population. Data indicate that bone mineral density testing is under-utilized and drug therapy is often not initiated when indicated in this population. Bone mineral density testing with central dual energy x-ray absorptiometry is essential and cost-effective in this population. All elder people should be instructed on a bone-healthy lifestyle containing age-appropriate weight-bearing exercise and smoking cessation if necessary. The very important role in the risk for osteoporotic fractures, especially in the older senior is a falls play. The risk for vitamin D insufficiency and deficiency is high in the older senior and can contribute to falls and fractures. To treat this problem they should intake sufficient amount of calcium and vitamin D. (Vondracek et al,2009) Vondracek, S. F., ; Linnebur, S. A. (2009). Diagnosis and management of osteoporosis in the older senior. Clinical interventions in aging, 4, 121.?DEXA procedure detects the osteoporosis disease and this early diagnosis will improve the disease management practices and would help in impeding national productivity losses by mass screening and awareness. Also, it can help prevent osteoporosis. (Makhdoom, et al,2014) Makhdoom, A., Rahopoto, M., Siddiqui, K. A., ; Qureshi, G. A. (2014). Early Detection of Osteoporosis by Dual Energy X-ray Absorptiometry. Pakistan journal of medical sciences, 30(6), 1265.? Equipment component and function:The technique used to measure the mineral bone density and the average concentration of mineral in a defined section of bone is the Dual-energy x-ray absorptiometry (DEXA). It performed with a low radiation dose and accurate (exact measurement of BMD), precise and flexible (different regions can be scanned). A DEXA scanner consists of a low-dose x-ray tube with two energies for separating mineral and soft-tissue components and a high-resolution multidetector array. It has one of two different system a fan-beam device that emits alternating high (140 kVp) and low (70–100 kVp) x-rays and sweeps across a scan area or a constant x-ray beam with a rare-earth filter and energy-specific absorption, which separates photons of higher (70 keV) and lower (40 keV) energy.( Lorente-Ramos et al,2011).Lorente-Ramos, R., Azpeitia-Armà ¡n, J., Muà ±oz-Hernà ¡ndez, A., Garcà ­a-Gà ³mez, J. M., Dà ­ez-Martà ­nez, P., ; Grande-Bà ¡rez, M. (2011), Dual-energy x-ray absorptiometry in the diagnosis of osteoporosis: a practical guide. American Journal of Roentgenology, 196(4), pp 897-904.Role of radiographer with osteoporosis patients:Understanding every step of the procedure is important for maximizing the usefulness of the imaging evaluation to patients and referring clinicians in this procedure the radiographer play a great role in preparing the patient and taking care of the patient before, during and after examination. Before the examination, the radiographer must be Check patient history, old x-ray, Select the optimum exposure factors, Prepare the room for examination and Prepare the patient for the examination. During examinationThe radiographer must be Explain the procedure to patient and relative ,Reassure and care for patient during examination, Position the patient, Place radiation protection and Constantly assess the patient's condition and then Expose. After examination they should be Move the tube away from patient, lower x-ray table down and finally given instructions to patient.Radiation exposure in X-ray-based imaging techniques used in osteoporosis:In old patients, central DEXA measurements of the lumbar spine and proximal femur are recommended. Two regions should be measured so that if one is unavailable, the forearm can be imaged. Appropriate patient positioning is essential for optimizing BMD measurement. The patients are placed in the supine position for poster anterior imaging of the lumbar spine and femoral neck and sitting next to the table for imaging of the forearm. Images are assessed for patient movement. The area of interest exceeding 1–2 cm and superior and inferior limits should be included to verify that the complete anatomic region is scanned. The bone axis should be straight and centered and the lesser trochanter should not be seen on images of the proximal femur. Equipment from various manufacturers generates automatic ROIs, which should be reviewed. Correct numbering of vertebral bodies is the main goal in DEXA of the lumbar spine. The indicators of correct positioning are as follows: the ribs appear at T12, the largest transverse processes are L3, the vertebral area values increase from L1 to L4, BMD increases from L1 to L3, and the BMD of L4 is similar to or slightly less than that of L3. Sometimes radiographs are necessary for correlation. Altered vertebrae (deformed or with lesions or artifacts in them) should be excluded from the analysis. If only one vertebral body is left, the region is not useful for diagnosis. In hip scanning, it is important to avoid undesired bone. The anatomic landmark selected for femoral neck ROI placement is the greater trochanteric notch.( Lorente-Ramos et al,2011) Case study:A 70 years old patient was admitted to Khawla hospital due to presence of lower back pain and restricted waist movement. A lumbar x-ray was done to the patient and showed sever narrowing of the disc space between L3 and L4 with no fractures over the lumbar bodies. For further investigation, a bone densitometry test was done that showed the presence of severe presence of osteoporosis with increased risk of fracture. Thus, discectomy was done for the herniated portion of the disk between L3 and L4 that compresses the nerves and causes the pain and instrumented fusion of L3 and L4 was also done to stabilize and strengtnus the spine after the intervertebral joint space reduction that occurred between L3 and L4. Finally, the patient was prescribed with vitamin D and calcium tablets to compensate the calcium and vitamin D reduction due to the osteoporosis.(khawla hospital,2018) .(khawla hospital,2018) Conclusion: Over all, Osteoporosis is a systemic disorder of the skeleton that is characterized by a reduction in bone mass. Although the condition affects a higher percentage of old people. The importance of osteoporosis lies in the fact that osteoporotic bones are more fragile and susceptible to fracture than normal bones. DEXA is a quick, accurate, low-cost imaging method for the diagnosis of osteoporosis. It comprises adequate performance (symmetry, morphology, positioning), ROI placement, detection of artifacts, pathologic evaluation (incidental findings and those affecting analysis), and evaluation of bone mineral density.

On the Problem of Induction

A Critique of Nelson Goodman’s Concept of the New Riddle of InductionThe development of the method of induction has been privy to the presentation and solution of riddles. At the initial level of its development, it has been privy to the old riddle of induction discovered by Hume. After the solution of the former riddle, however, a new riddle of induction was discovered by Nelson Goodman. In lieu of this, this paper opts to consider the development of the method of induction as a methodology defined by Hume and Goodman’s conception of the Inductive method.Induction refers to â€Å"a method of reasoning by which a general law or principle is inferred from observed particular instances† (Flew 171). The method of inductive inference may be considered as the primary means through which justifications are formulated to show the relationship of evidence towards particular assumptions (Norton 2). The process of induction, in this sense, may be seen to arise whenever we note that evidence lends support to a hypothesis while in the process failing to establish its deductive certainty. It was such a formulation of the method of induction that enabled the conception of the first riddle. What follows is a presentation of the main arguments of the aforementioned riddle as formulated by David Hume.Hume argued that since no necessary connections exists between empirical phenomena, it is always possible that a future observation will prove our inferences wrong no matter how appealing it may have been or how richly supported by past observations. This problem, in the more recent formulations of the problem has been referred to as the uniformity principle [in this sense the lack of such uniformity]. According to the argument, nature has no uniformity. If such is the case it thereby follows that there is no voucher that which ensure the consistency of man’s most refined predictions. It might be argued that such an assumption has never been denied in th e formulation of predictions however there has been agreement regarding the results of such an agreement [or lack thereof] within the province of induction.To some, it means that induction is never valid or justified, while to others, it means that induction simply calls for different standards of validity (Landesman 164). The latter view strips the aforementioned riddle [Humean riddle] of its problematic context. This is evident if one considers that since the rules of deductive validity are inapplicable to induction, it cannot be a problem that inductive inference is unavoidably attended by the possibility that a future observation may prove it wrong (Goodman 4). The old riddle is then dismissed because it cannot possibly be the genuine problem of induction.Fact, Fiction, and Forecast present Goodman’s construal of what he refers to as the new riddle of induction. After refuting the old riddle of induction [the refutation of which is evident in the former paragraph], Goodma n proceeds to outline what he takes to be the genuine problem of induction and its tentative solution. The problem of induction, he writes, is a problem of demonstrating the difference between valid and invalid predictions (Goodman 4). According to Goodman, a prediction is valid if it conforms to a valid rule of induction, and a rule is valid if it yields valid predictions.He acknowledges that such an assumption is characterized by circularity however he notes that it is important to perceive such a conception of the problem in terms of the conceptions of justifications for arguments.   Goodman notes that inductive predictions based on past regularities work better than those based on any other alternative. If such is the case, the rules for formulating predictions must be constructed in such a way that they will coincide with common practices of inductive reasoning.This, on the other hand, is further developed by the quality of predictions, which it produces. This is clearly expl icated by Rubenstein as he notes, â€Å"the centerpiece of a valid inductive logic [according to Goodman] is its reliance on past regularities, and the prescriptive mandate of inductive validity is inseparable from a descriptive account of how inductive judgments are commonly made† (39). This has been the result of Goodman’s dissolution of the old riddle of induction. What follows this is Goodman’s explication that the most promising solution of the aforementioned riddle is untenable. It is through the introduction of such untenability that Goodman presents what he perceives to be the new riddle of induction.Goodman presents two hypotheses that are to be addressed through the use of the inductive method. One says that all emeralds are green and the other says that all emeralds are grue, where grue is said to apply to all things examined before t just in case they are green but to other things just in case they are blue (Goodman 10). Both hypotheses seem to be eq ually well supported by the evidence: all emeralds examined prior to t have been found to be green and grue. However, the two hypotheses are mutually exclusive. If emeralds are grue, they will be blue at t and thereafter, but if the alternative hypothesis is correct, they will be green. Thus, we are left with the paradox that Goodman christened the ‘new riddle of induction'.We cannot, after all, justify induction by appealing to past regularities. However, the reason, according to Goodman, is not the lack of the elusive uniformity principle, but the previously unrecognized ubiquity of regularities.   According to Goodman, regularities exist where one finds them. In relation to this Goodman states that one, however, finds them everywhere (12). If such is the case, it therefore follows that it is useless to base inductive validity on past regularities since it is not possible to predict and hence distinguish which regularities are valid and invalid.At this point, I would like to present a summary of the aforementioned discussion. In the aforementioned discussion, Goodman believes that the old riddle [the Humean riddle/the uniformity principle] has been dissolved and that induction is justified by past regularities. The only remaining difficulty he sees, however, lies in finding a rule for distinguishing between regularities that do and do not yield valid inductive predictions. As was noted in the above discussion, the possibility of such is not possible. This is evident if one considers that regularity necessitates the occurrence of acts of inductive inference. Therefore, the genuine problem of induction cannot be the distinction between the distinction of regularities that do or do not yield valid inductive predictions since the specification of such necessitates the formulation of inductive inferences.As I reckon, Goodman aforementioned conception fails to account for the process of induction. It is important to note that Goodman contends that inductio n begins with regularity. Rubenstein notes, â€Å"induction does not begin with regularity – it ends with it† (44). The failure to consider this leads Goodman to misconstrue the problem of induction. It is important to note that experience of reality does not necessarily start with regularities but rather with individual observations. The role of induction, in this sense lies in providing us with justified methods that allows us to posit the observations that we will account for as regularities. Goodman, however, failed to account for this.In addition to this, it is important to note that such a failure can also be traced to Goodman’s assumptions regarding the process in which individuals formulate inferences. Goodman's error is compounded when he makes a distinction between identifying regularity and projecting it. Once we have decided that our observations represent regularity, it is automatically projected in both temporal directions. This is, in fact, what w e mean by applying the term regularity to our data.Furthermore, Stich and Nisbett contend that the â€Å"equilibrium with inductive practices† that Goodman posited as a necessary aspect in formulating a valid inductive methodology is â€Å"neither necessary nor sufficient for a rule of inductive inference to be justified† (194). They argue that such an assumption fails to consider that â€Å"human subjects regularly and systematically make invalid inferences† and that there an instance wherein human reasoning enables an individual to â€Å"accept invalid rules and reject valid one’s that ought to govern the inference at hand† (Stitch and Nisbett 194).In summary, the aforementioned paper presented Goodman’s arguments in relation to his conception of the new riddle in induction. Such a riddle, however, under scrutiny may be seen as based upon a mistaken assumption of the justification process of beliefs that necessitates the introduction of in formation garnered through the method of induction. This is evident, for example, if one considers the manner in which observations enable the formulation of regularities and not the other way around. An analysis of Goodman’s supposed riddle of induction thereby leaves the reader wondering if such a riddle may be considered as a valid concern for the adherents of the inductive methodology.Works CitedFlew, Anthony.   A Dictionary of Philosophy.   London: Pan Books, 1983.Goodman, Nelson.   Fact, Fiction, and Forecast.   Massachussets: Harvard University Press, 1983.Landesman, Charles.  Ã‚   Skepticism: The Central Issues.   London: Blackwell Publishing, 2002.Rubenstein, Arthur.   â€Å"Induction, Grue Emeralds and Lady Macbeth’s Fallacy.†Ã‚   The Philosophical Quarterly 48.190 (Jan. 1998): 37-49.Stitch, Stephen and Richard Nisbett.   â€Å"Justification and the Psychology of Human Reasoning.’   Philosophy of Science 47.2 (Jun. 1980): 188- 202.

Black people Essay

Race and racial issues are all around us. Nobody can sneak behind a curtain, or tuck themselves away in a dark room to avoid this; there isn’t a way to escape racism. Our day to day lives are filled with stereotypes and overgeneralizations that make us think and judge the wrong way. We weren’t born into a race or into a category, but rather into a large melting pot. As Tim Wise said, majority of cops when asked â€Å"What would you assume about a Black or Latino male who lives in a shady neighborhood and has a nice, new car? † would respond â€Å"those men are more than likely drug dealers† just because of their race, when in fact, when compared to Black and Latino males, White males are four times more likely to be in possession of drugs at the time of an arrest. Our founders did not want this to be the case. Abraham Lincoln fought to end slavery and abolish the inequality between Human Beings, not guide us in to thinking the color of our skin shapes us and the opinions we create for others based on their â€Å"race†. Can you believe that ninety-four percent of White Americans believe that racial problems are a small issue like not being able to find the match to your shoe, whereas the other six percent are fully aware that this is a huge controversial issue? Those people who believe racism has dwindled down that much need to have an eye opener. Majority of â€Å"White Americans† are the ones who stereotype and categorize those of a different skin color. It is us â€Å"White Americans† who benefit from being the main race, and having the â€Å"White privilege†. More people need to go to a Black neighborhood and talk to those who see racism every day because in the area that about half of us live, racism is small compared to a large city. White privilege might have begun around the same time slavery had. White people, being the majority, saw the â€Å"new race† as an opportunity to become supreme ruler over something, to have large groups of people work for them. The African American community thought differently, and tried running away. Infuriated, the Whites began on a whole new level believing anyone who ran away from the plantation was sick. Slavery in general, helped create white privilege and stereotype all African Americans into the working type, and now the druggies. All these past experiences have made it harder for African Americans to strive in our society. In previous decades, they deliberately separated White and Black neighborhoods, and when a Black moved into a White neighborhood, the houses value and the neighborhoods value decreased just because the people who moved there were of a different color. It is absolutely ridiculous that racism is still around about just as much as it was seven years ago. Anybody with logical thinking would believe that it would have dwindled down to something less severe. Unfortunately, several towns are still divided and segregated because of race and skin color. I hope I get to see every race and skin color come together and work together fully, across the nation before I’m fifty, that’s thirty three years from now.

Foreclosure Crisis and Cities Essay Example | Topics and Well Written Essays - 500 words

Foreclosure Crisis and Cities - Essay Example At the beginning of 2008, with the weakening of US economy and losing of jobs, these defaults became millions and many Americans with plain-vanilla prime mortgages were also in trouble for making the repayment. Some borrowers were compelled to give up the repayment, finding that they had paid inflated prices for houses while others were in trouble by borrowing against the equity in their homes. According to Federal Reserve, more than $1.1 trillion of equities were withdrawn in 2007-08. Even the borrowers who have stable jobs started to see these negative equities as reason for stopping the payments and by the beginning of 2009, one-sixth of the homeowners found default borrowers, culminating the foreclosure crisis (Immerdeck, 2009). A large number of foreclosed dwellings all around the country were left vacant when the owners just walked away from the properties as they were unable to repay the loans. These empty dwellings created blight and contributed to the deterioration of neighb orhood. This resulted in the drop of property value and increase of crimes.

Complete a bcg matrix and answer questions Assignment

Complete a bcg matrix and answer questions - Assignment Example In most cases, business units categorized as Stars required heavy investments to ensure that the high growth and market share are maintained. At the moment, corporate car rentals are the stars within this business given their high growth rate and high market share. Dogs on the other perspective represent business units that trap cash given their low market growth and share (Griffin 223). Such business units therefore do not have the potential of adding a lot of cash into the business and they are related to the declining stage of the business. Refueling/fuel packages as well as miscellaneous accessories are the cash trappers. They have low growth and market share as well. Lastly, Cash Cows are business units with high market shares but a low growth potentiality (Griffin 223). In such business units, they were the previous stars and if serious measures are put in place they can generate more cash. Leisure car rentals formed the previous stars within this business. They can generate more cash if serious measures are put in place. The marketing manager should concentrate on the corporate cat rentals, leisure car rentals, and insurance adds on as a way of increasing cash whilst there should be need to reduce the refueling/fuel packages and the misc accessories, which continue to trap the cash for the

Asbestos Exposure In Buildings Essay Example | Topics and Well Written Essays - 4500 words

Asbestos Exposure In Buildings - Essay Example (Alleman & Mossman, 1997), (Competition Commission, 1975) prior to the 19th century asbestos boom, the mineral had a minor utility in household items, although Peter the Great did maintain a factory for the production of asbestos products. (Competition Commission, 1975) its use in construction during the 19th century was primarily limited to Chrysotile fibres intended for insulation purposes. CASE STUDY: When people first meet Robert Hamilton, they would be forgiven for questioning whether this man is terminally ill. He has an amazing spirit, a lust for life and a great sense of humour. It is this positive attitude which helps Robert get through some of his darkest times since his diagnosis with mesothelioma in July 2006. Mesothelioma is a terminal cancer of the lungs caused by exposure to asbestos fibres. Robert, of Polmont, Falkirk Central Region, worked as an assistant foreman at I.C.I. in Grangemouth for 28 years and although he didn't handle the asbestos himself, he was exposed to the fibres everyday in his work place during the maintenance and refurbishment works going on around him - the entire building and all the pipes were insulated with deadly asbestos. A key part of Robert's job was directing maintenance workers throughout the I.C.I. building to where work was needed in repairing or replacing the asbestos cladding and lagging. "When the boys put the lagging on, the dust would go everywhere. You could feel the dust in your throat and we used to go for a couple of pints after work to wash the dust out! "Nobody told us anything about asbestos. The staff were given different items of protective clothing for other chemicals that they worked with, but not for asbestos." Robert Hamilton, now aged 66 years, is supporting the Health and Safety Executive (HSE)'s national campaign "Asbestos - the Hidden Killer". The campaign aims to tackle the rising number of asbestos-related deaths by educating tradesmen about the risks they face. Any building built or refurbished before 2000 could contain asbestos. It is estimated that around 500,000 workplace buildings contain asbestos and many more domestic premises could contain it. The first symptom Robert experienced was a chesty cough which he presumed he had picked up through the air conditioning on holiday. The chest infection didn't clear and his GP went on to diagnose pn eumonia and then TB, for which Robert received six months of treatment. "It took a year before I was correctly diagnosed with mesothelioma. On diagnosis they gave me six to nine months to live. It does knock the breathe out of you when you are diagnosed. "It takes a while to sink in, it's as if you are talking about someone else. A lot of crying goes on and asking 'Why me - what have I done to deserve it?' "Telling the family was devastating and my wife is very scared at being left on her own." Mesothelioma can take anywhere from 15 to 60 years before it becomes active and starts attacking the external lining of the lungs. The majority of sufferers die within one or two years of being diagnosed. Robert has lived with this debilitating disease for over three years now. There is no cure for mesothelioma - only treatment to alleviate the symptoms. He has endured three courses of chemotherapy, the latest being in March this year and he had major surgery to remove a lung; and has tried r adium treatment. It took Robert a long time to recover from his surgery and during this time he has had a stroke and suffered from depression. Living daily with mesothelioma has had a huge effect on Robert's life he explained: "The life that you know is gone. I can't walk for more than 20 minutes and I easily

Business law Essay Example | Topics and Well Written Essays - 1000 words - 11

Business law - Essay Example The two policy reforms considered in Australia include the proportionate liability and statutory capping schemes2. The various professional bodies governing auditing in Australia determine application of statutory capping. Nonetheless, statutory capping has various negative policy implications. One, it is a disadvantage to third parties who may be innocent victims of the auditors negligence. Two, it may induce the auditors to charge lower fees as they would expect to pay damages in case of a legal suit. Third, it allows for government interference in the auditing profession, which would hinder the independence of auditors. One. Tel Communication company reported losses of $290 million as a result, its share price collapsed and the directors were sued for negligence. ASIC sued Jodee Rich and Mark Silberman for failing to meet their duty of care causing the collapse of the company in May 2009. ASIC claimed that by failing to communicate true financial performance and financial position of the company, these directors did not exercise due care and diligence, which resulted to the cancellation of the proposed rights issue in 20013. The directors were found not guilty of negligence on accounts that the summary presented by ASIC about Mr. Rich’s evidence was considered as false. The judge also implemented the business judgment rule under the Corporations Act 2001, Section 180(2). Directors whose conduct breached section 180(1) were provided defense in the business judgment rule4. HIH Insurance was among the biggest insurance companies in Australia. However, in March 2001, the company lost a value of about $5.3 billion and, in turn, became insolvent. Some management member was sued for fraud after the Prime minister, John Howard, created the Royal Commission to investigate the collapse of the company. Rodney, the main defendant, had three unsecured loan

Respons letter Essay Example | Topics and Well Written Essays - 250 words

Respons letter - Essay Example As such, I credit the way Mike Keefe presented the challenge of Obesity among Americans. Indeed, as Keefe observes, large percentage of Obesity cases in America are related to lifestyle. The â€Å"Higgs Boson† cartoon context indicates that the American Obesity is entirely attributable to the people’s poor feeding habit. I beg to differ with this assumption because the subject of obesity is of controversial implication hence generalized declarations do not respond to its concerns effectively. James & John (34), observes that obesity is caused by numerous factors and indeed, most of the factors that we undermine have a considerable influence. Surprisingly, Keffe disregards the idea of linking Obesity with genetic disorders. This is an irrational observation since James & John (157) identifies that a considerable number of American Obesity cases are genetic based. As such, we need to examine the issue of obesity critically and shun drawing generalized conclusions. The audience of this letter will be all individuals who accesses The Denver Post magazine. This is a diverse audience; therefore, I have used harmonized language to articulate my position. I expect my audience to understand the essence of according reasonable attention to the subject of obesity. However, I also expect that some readers may disagree with my position disregarding it as

Answers to Finance Questions Essay Example | Topics and Well Written Essays - 500 words

Answers to Finance Questions - Essay Example From this paper it is clear that since the Glass-Seagull Act that clearly defined the functions of investment banks, there has been several changes that have occurred in investment bank activities over the last few decades. These changes have been occasioned by market forces and regulatory requirements. Since the repeal of the Glass-Seagull Act in 1999, there has been increased competition in the investment banks sector due to more entry of more investment banks from commercial banks that opened investment banking wings. According to Santos, regulation are imposed to reduce risk, improve transparency as well as improve leverage. Some of these changes experienced include merchant banking, asset and portfolio management, research and security analysis, providing consultancy services during mergers, acquisitions and take-overs and banking for global funds transactions.This discussion highlights that a  money market mutual fund is where by many investors, both huge and small bring thei r funds together and invest them in short term securities. They are normally open-end funds where investors can purchase and sell their securities at will. These funds are professionally managed so as to reduce risks since the securities traded are highly liquid. Investment banks undertake to determine the levels of risk in different financial instruments and manage them so as to receive the best possible returns. Investment banks offer to trade in other financial instruments other than the conventional debt and equity securities.

Rita and Sue Escaping Constraints of Class and Gender Backgrounds Movie Review

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Lefeveres Concept of Translation Essay Example | Topics and Well Written Essays - 4000 words

Lefeveres Concept of Translation - Essay Example The work of Andrà © Lefevere in translation studies is based on some very strongly held views about the nature of writing and rewriting as these activities have been conceived throughout all of human history. The quotation mentioned above summarizes one particular key theory of his, which is concerned with the relationship which exists between translation and power. This paper will examine Lefevere’s concept of translation by breaking the statement quoted above into four distinct segments, each of which will be discussed in turn: The first of the four segments of Lefevere’s quotation is quite straightforward and seems simple enough at first reading. Lefevre classifies translation as â€Å"a rewriting of an original text.† It is true that translations are â€Å"rewritings† or re-formulations of other texts, but it is questionable whether translations are always rewritings of an original text. Many post-structuralists would maintain that no text is ever truly original since every text stands in some relation to texts which have gone before. The concept of â€Å"intertextuality† indeed assumes a long chain of connections reaching back in time and across cultures so that every text that exists could be said to be a â€Å"rewriting†, or a decoding and re-encoding of other texts. Other scholars would argue that the very concept of â€Å"text† is fraught with problems because that â€Å"text† changes its nature every single time it is read by another person. What a r eader puts into a text is, therefore, from this point of view, just as important as what the writer puts in, what the translator puts in, and what the text gathers to itself through multiple other unintended connections. Looking back over world literature it is very striking that stories which authors have written over the centuries have depended on other stories, legends and â€Å"texts† that have come before.

Human Resources Integration Essay Example for Free

Human Resources Integration Essay Hugh McCauley, the Chief Operations Officer of Riordan Manufacturing, has placed a service request, SR-rm-022 to integrate all existing Human Resources tools into a single integrated application across all plant locations. The business would like to take advantage of a more sophisticated, state-of-the-art, information systems technology to replace their current Human Resources Information System or HRIS (Riordan Manufacturing, 2006.) In response to this request, this document will outline the following items. The information-gathering techniques and systems analysis tools proposed for this project. Critical factors to ensure the sucessful gathering of information required for the project. Description of the project scope and the areas of project feasibility, and key stakeholders of which requirements will be collected are also discussed. INFORMATION GATHERINT TECHNIQUES AND SYSTEMS ANALYSIS TOOLS To ensure project success, it is important to gather your key stakeholders together to discuss the system. Key Stakeholders for this project would be key management personnel, IT staff, and users of both the legacy system, and the new system. Your key stakeholders will also be the first level of intelligence gathering performed. Key management personnel such as Hugh McCauley, the COO, who can give the corporate view of the legacy and the new system. HR Director Yvonne McMillian and Payroll/Tax Clerk Anan Richlich can give an exact use case on the HRIS system, and will be the two primary sources of legacy information. Director Yvonne can determine training requirements with the help of the IT department. The IT department can provide information about the legacy system and the capabilities of the current infrastructure of the business. IT can also judge and approve new requirements, privacy structures, and future support needed to maintain the  system. Face-to-face interviews will allow information gathering from these key individuals. Questions, an outline of topics, and a primary agenda will be provided beforehand to maximize the use of available time in hectic schedules. We will also be occasionally meeting to discuss the direction the system is heading, timelines, priorities, and key players lists to ensure success of the project. There is another primary source of information which needs addressing, and this is the group of people who handle information we will be adding which did not exist in the legacy system. This group can submit examples of their files, which will determine another part of the scope of the system, and use cases of how that information is gathered. After this information has been collected, documented and studied, the system development process can begin. The system will be designed using the Joint Application Development (JAD) method. JAD is a prototyping method which gathers our key players listed above, along with other designated individuals to collectively refine business requirements while in conference with the design team of the software and the support team from IT. The JAD process also includes approaches for enhancing user participation, expediting the development, and improving the quality of specifications. It consists of a workshop where knowledge workers and IT specialists meet, sometimes for several days, to define and review the business requirements for the system.† (Joint Application Design Wikipedia, The Free Encyclopedia, n.d.) Using this prototyping method ensures that each key factors such as project support and misdirection will not be an issue. This also ensures that the project gets the continued support it will need in the future to succeed. SCOPE AND FEASIBILITY During the Analysis phase of the Systems Development Life Cycle (SDLC), several areas of project feasibility come into play. As discussed above, determining fully the system requirements ensures that you are filling the need of the system. A preliminary study is then conducted to confirm and evaluate the need. A proposal of how the need may be satisfied is then made. (Scope of Feasibility Analysis | Bicara Property, n.d.) The necessity of the system, as well as the improvements and requirements of the new system, will all be handled within the JAD process, allowing final project scope and requirements development. These developments can be realized  financially to allow final budgetary requirements determination. All of these determinations hinge upon the proper system scope being defined. During this process, the unique considerations are also shared. In this project, the request was to Create a detailed system design and a project implementation plan required to complete the proj ect. The project should be completed in approximately six months allowing new system utilization in the second quarter of next year. (Riordan Manufacturing, 2006.) This design process includes checks and balances, giving the project the fullest chance of success. During the entire process, oversight will be maintained by corporate leadership. Final approval before entering the next phase of the SLDC allowing equipment purchasing approval from the COO, Hugh McCauley. By following this process, we can ensure this project produces a system which fulfills the requirements, bringing a sophisticated, state-of-the-art, information system† to Riordan Manufacturing’s Human Resources Department. (Riordan Manufacturing, 2006.) During the JAD process, two methods were determined to fit the requirements, building a system in-house using programmers’ already on staff or using off the shelf software from a major corporation. To fulfill user testing requirements, a trial version of the BambooHR software was tested by staff and management. The BambooHR software fulfills all the requirements with less downtime for the company, saving valuable resources and eliminating the need for more support staff to be hired. The design process for this system began by gathering relevant data for the current system and by building both requirements for the new system and use cases of the current processes in the Human Resources department. After gathering and sorting the new system requirements using the Joint Application Design process, it is now possible to continue to design both the application architecture and apply the tools of system analysis to describe the information systems. SYSTEM ARCHITECTURE The client/server architecture is one of the most prevalent system architectures used in corporations. With Riordans requirements to allow multiple sites access to data and to ensure that data remains secure, the data will be stored on the server, and access routed through a secondary  application server. The application server hosts the applications which access the data, allowing a lower cost local machine, and can allow both intranet access and outside access using a VPN (Virtual Private Network) connection to create a secure encrypted link between the client and the server. This style of client/server architecture is referred to as a three-tiered architecture due to the three tiers involved in accessing the data. Although this method may seem bulky at first, this will allow many different benefits for data security and lower overall cost of the system as requirements are lower for the client computers. The determined requirements for multiple locations to share and modify data leaving with Riordan only required to supply the client systems with no additional support necessary for a data server or application server. Eliminating the current architecture on hand will save maintenance, upgrade and support costs, both in monetary and staff requirements. The chosen software, Bamboo Human Information Resource System (HRIS) follows the same requirements recommended in terms of hardware as those designed using system analysis. ARCHITECTURE DIAGRAM SECURITY CONTROLS Security is the ability to protect the information system from disruption and data loss, whether caused by an international act (e.g., a hacker or a terrorist attack) or a random event (e.g., disk failure, tornado.) according to SYSTEMS TEXTBOOK. In modern corporations, internal threats can become much more dangerous than external threats. To combat both types of threats implementation of the following security protocols will be included in the system: DATA Data must be kept secure and confidential, protected from both internal and external threats at all times. Data encryption and passwords will be used in addition to other security features to protect employees. Data stored externally to the server, such as the outsourced benefits data will be reviewed for security procedures and evaluated annually. Currently the data is decentralized, being stored in different offices and by various methods, creating a security problem that the new system can correct. The first step  to addressing this will be to ensure secure storage of all data. Consolidating data allows secure controls on the access each person has to the secured data by both the application used to access the server, and the access controls given them when they log in. This will also allow multiple applications to access the same data, while leaving greater flexibility to find the best software to fit multiple needs. Each user can add, remove, and manipulate only the data they are given access to, no matter the platform the data is being accessed form. PROCESSES Some legacy processes consolidation will occur as the data is consolidated, and certain processes would benefit from using third party software thereby gaining security certificates and minimizing the amount of knowledge and training required for our Information Technologies department. Many of the software suppliers will assist with training, modification and installation making the transition from the legacy system easier on staff. INTERFACES System interfaces describe how the system shares information with outside sources such as outsourced data, user requests, and internal data sharing. As Intrusion Detection and Identity Management systems will protect the internal data interfaces, as discussed above, the user interface design process needs to be addressed. As many of the users currently only have forms built for their information and no system to store them in, Riordan Manufacturing can evaluate different third party solutions for a web-based system. Using a web-based system, such as Bamboo HRIS allows applications to be placed on a remote server, lowering the cost of the clients used and saving valuable money and resources. Employees accessing the application server via the intranet will use username/password combinations to decrypt data on their local machine, while access from external sources, including employees at a remote site will use a private key encryption system to decrypt their data. This process minimizes the amount of data stored on the individual clients in case of theft or destruction of client resources. NETWORK The network consists of the backbone, data server, application server, firewall, and clients. There are four processes that will be used to protect  the network from unauthorized access: Implementation of Intrusion Detection System – This system conducts real-time monitoring of the network, database, traffic, and user access and activity to find possible intrusion or security risks. Log Management Program – Almost all software produces logs which store information on user access, file management, and data modification to name a few examples. Consolidating these logs into easier to read and understand can help identify potential security risks. Identity Management Systems – Control access to resources and data based on the users identification within the system, i.e. the users login credentials.   Training for Security Measures – The best security system will not function to its highest potential unless staff are trained in the use of the system. This training includes proper in-processing and out-processing procedures to protect from unauthorized access. Although the Systems Development Life Cycle is a continuous cycle, the final step for this Human Resources Information System project is the Implementation and Operations phase. This is the most expensive and time-consuming phase due to the amount of personnel, resources, and time involved. According to Valacich, George, and Hoffer (2012), there are seven major activities, coding, testing, installation, documentation, training, support, and maintenance. This document will explore the first six activities, giving a brief description and the plan for implementation at Riordan Manufacturing of the Bamboo Human Resources Information System. It is important to ensure that each of these activities are adequately defined, as many of them are conducted multiple times during the life of the system, and some are carried out on a daily basis. Building proper procedures for staff and support personnel to follow ensures that all upgrade or modification testing is accomplished to the same standards as the original system. CODING Coding is the process by which designs are transferred into the physical form that is computer software. As the selected system requires no coding, this  aspect will not be planned for TESTING Testing is an involved process which begins with the first section of code and continues throughout the life of the system. There are several different methods of testing in use today, some in which the code is run to verify operation and output, and some in which a code error review is conducted without operation. The Inspection method involves a physical inspection of the code, checking for syntax, grammar, or other fundamental errors before running the code while ignoring the purpose of the code. The inspection method usually removes the majority of errors found in the program. A Walkthrough allows testing of the code for functionality and to determine if the code fulfills the design requirements identified by the design team. Desk Checking, another form of checking and verifying code involves running the code with paper and pen to determine the logical validity of the code without running any lines of code. The previous methods of testing are focused on catching issues when writing code and may not apply to the code purchased off the shelf, or in modular form to work within an existing system. With the cost of development for code, especially in smaller companies this may not be a viable option, however even if purchasing prepackaged code, there are tests which should be run to ensure no problems will be found during installation. After the code has been validated by manual means, or for purchased code, it can be processed by a program, such as a compiler, to verify that there are no significant errors by Syntax Checking. Syntax Checking can also be run automatically each time the program saves a file to identify issues which arise causing the system to need maintenance. Code is generally written in modular form in todays environments, and there are methods of testing which lend themselves well to this. Unit testing is designed to test each individual module or unit to verify operation before the modules are combined together into a system. Testing individual modules may seem to be difficult as many modules share data and information, the way to fix any call errors is by using Stub Testing. During Stub testing, lines of instructions are inserted in the code to emulate a response from an outside source allowing the program to complete without errors. After testing the modules, they are combined and tested again during Integration testing, using a top-down approach to verifying communications and data sharing logic is sound. The final method  to discuss is System Testing, the act of testing the finalized system, using the same top-down approach from the Integration phase. The software chosen for Riordan Manufacturing to satisfy the needs listed is off-the-shelf giving limited testing requirements. Alpha Testing was accomplished during the final steps of the JAD, or Joint Application Design, process and beta testing will commence using key stakeholders in the project once final project approval has been given. INSTALLATION The installation process involves transitioning from the legacy system to the new system and can occur in several different approaches, direct, parallel, single location, and phased. â€Å"Each installation strategy involves converting not only software but also data and (potentially) hardware, documentation, work methods, job descriptions, offices and other facilities, training materials, business forms, and other aspects of the systems (Dennis, Wixom, Roth, 2012, ). Each of these different installation methods has their positive and negative aspects, and can be combined to fit the needs of the business requirements. The Direct Approach is a cold turkey shut down of the legacy system with no transition time, which can be dangerous if there are issues with the new system, or if support or training are lacking, however, this can drive the new system as there is no choice but success. In the Parallel installation method, the legacy system is left running allowing a safety net; however, this requires support for both systems causing increased cost to the business. A Single Location approach can allow for adjustments before all sites are brought online, however while the other locations continue to use the legacy system, data must be bridged between the two systems and the same additional costs of the Parallel system are incurred. Finally the Phased approach gradually transitions between the two systems, making transitions easier for the staff, yet limits the newer system to the constraints of the older system as they must share data. For Riordans new HRIS, the direct approach will be combined with the phased approach. Currently only the corporate site is using the legacy system, and phasing the other locations onto the system will allow training in phases by location. DOCUMENTATION Documentation of a system comes in several different forms each of utmost  importance. To ensure that the system can be adequately supported and repaired, System documentation is required. To ensure that users properly understand the system, User documentation such as a users guide, release description, system administrators guide, reference documentation and user acceptance are required. Systems documentation, users guide and reference documentation for this system is provided by Bamboo HR after purchase of the system is completed, and acceptance sign-off will be completed as the final step of the installation. TRAINING As systems can only function to the level at which users can operate the system, user training is tantamount to success of an installation. User training can occur in many different forms, classroom led training, literary resources, and online training, all of which are educational tools to heighten productivity and ensure system success. Support staff will also be trained to understand not only how the user accomplishes tasks within the system, but also the how the system performs these tasks if repair or maintenance is to be conducted. Training on the HRIS will be carried out by BambooHR using several different methods for different topics. As the system will be maintained by an outside company, the focus for Riordan will be user training. All staff will be trained using online methods with documentation support for using the new system as all pertinent employee information will be handled through the online system to include benefits, vacation time, and training. Specialist training will be available for the following procedures; benefit tracking, recruitment, employee and management training, employee tracking, login management, payroll activities, report management, change requests and performance reviews by BambooHR. In addition, IT support staff will receive refresher training in application program interface to allow for interactivity and continued development of the system as business needs change. SUPPORT Support of a system is conducted not only on the system itself, in terms of upgrades for the hardware and software, and backups of the data, but also support for the users. With any system, issues occur during use, and an avenue for users to report these quickly and accurately, and receive assistance for problems is required. Tracking these reported problems can  help system analysts and support staff determine if there is a fix for the software or hardware, or if more user training can solve the issues. CONCLUSION Purchasing the Bamboo HRIS program has both tangible and intangible benefits for Riordan Manufacturing. The financial aspect, $16,512 a year ($8 per employee for 172 regular employees) dwarfs the price of purchasing and installing the required hardware to run an on-site system, while removing the current outsourcing which exists for benefits management. Provided training, customer support, security support, data migration, business report design and security upgrades add to the overall corporate value and dispensing of the legacy system releases it support personnel while lowering utility and maintenance bills. Determinations of the proper level of support staffing needed to continue business operations after the legacy system retirement will be conducted to eliminate nonessential personnel. REFERENCES Cutler, T. P. (2015). Internal vs. external threats Digital locksmiths. Retrieved from http://digitallocksmithsinc.com/2013/03/27/internal-vs-external-threats/#.VQ5XR-HZBww Riordan Manufacturing (2006). Riordan Intranet. Retrieved March 15, 2015 from http://ecampus.phoenix.edu/secure/aapd/cist/libraries/IT Service Requests.htm University of Phoenix 2005-2009 Unified Security Management USM Platform. (2015). Retrieved from https://www.alienvault.com/products?utm_source=Googleutm_medium=CPCutm_term=%2Balienvaultutm_campaign=SITELINK-ALIENVAULT_USMgclid=COrosKLUv8QCFRSIfgodGr4AUg Joint application design Wikipedia, the free encyclopedia. (n.d.). Retrieved from http://en.wikipedia.org/wiki/Joint_application_design Bicara, Bedes (2009). Bicara Property. Retrieved January 16, 2010 from http://bicaraproperty.wordpress.com/2009/08/19/scope-of-feasibility-analysis BambooHR: Human resources software for small and medium businesses. (2015). Retrieved from http://www.bamboohr.com/ Valacich, J. S., George, J. F., Hoffer, J. A. (2012). Essentials of Systems Analysis and Design (5th ed.). Retrieved from The University of Phoenix eBook Collection.

What Makes A Person Famous At Work Psychology Essay

What Makes A Person Famous At Work Psychology Essay What makes a person famous at work? Fame or popularity at work is much desired. To understand the phenomena, it is important to understand about fame. A research concluded that a person who is well known and liked is considered as popular (Scott, 2007). In other words a popular person is one who is likeable and socially visible. Babel (2001) further established the factors like social visibility and likable are most important for popularity. An individual who is sought after and liked is considered popular. What constitutes as popularity? According to Kerlinger Lee (2000) three forces which make up popularity. Attraction, that includes the force which brings together the individuals. Repulsion diverts and drives apart individuals. Indifference, that causes uncertainty in the mind on an individual. So these three factors can make or break an employees image at work. Popularity is often considered an individual matter; however this is not entirely true. Popularity is also a group orie nted phenomena (Rubin, Bukowski, and Parker, 2006). This means that it is an individuals quality to be popular, but he or she has to be in some sort of group to be popular or to gain fame. So understanding popularity can be measured individually and also in group. According to one research, popularity has two dimensions i.e. acceptance or rejection (Bukowski, Hoza, and Michel Boivin 1993). Another research concludes that Popularitys label is given to a specific employee by his co workers based on their perception which they develop after working with that particular worker for some time period. Popularity and fame are difficult phenomenon to understand and comprehend. It is difficult to judge about an individuals fame and popularity. There are no set rules present to measure these two states. Productivity and Popularity A research concludes that some employees are more popular than others, so often they are treated in a different way than others (Scott, 2007). This research has examined popularity in context of organizational behavior. The next question is what makes a person popular or famous at work. The popularity of person is depends on their ability to perform on the job (Zelst, 2001). This research requested the co workers to nominate a person to work with. This researcher found that people who have better working skills are popular among the workforce. The results of the research showed that people who are satisfied with their job are found to be more popular and co workers are willing to work with them. This research was conducted on construction workers. The key conclusion of this research is that popularity at work can be achieved if an employee has good working skills and is satisfied at the job. Popularity can lead to celebrity status. Research shows that popularity and fame is something most people enjoy and crave for (Hogan, 2003). This research states about the lure of fame develops from childhood and sustains through Adulthood. Another research found similar results. It concluded that employees with greater productivity are generally more popular among co workers (Porter, and Ghiselli 2000). This research asked the respondents to choose five co worker, with whom they would have had liked to work in a group. All the groups were given some task. The result of this research showed that the groups having popular members showed more productivity. Hence, it can be concluded that popular members are those who are good and quick at what they do. Working speed is also an important aspect as far as co workers are concerned. Nobody wants to work for long hours. Long working hours cause fatigue and stress to all the people involved (Park, Kim, Chung, and Hisanaga, 2001). To avoid working long hour, employees swiftness of work is imperative. Hence, working speed of a person is important for their fellow workers. Popularity also depends on factor which can be personal or situational (Fleeson, 2004). Flessons research states that people tend to judge others based on behavior of a person during specific events. They create a perception according to the behavior of a person. It shows that behavioral aspects play a key role in making a person popular and gaining celebrity status. Lodahl and Porter (2001) conducted a research on airline workers. The research was based on the popularity of the team leaders. 55 groups were included in this research. The results showed that the groups which had popular leaders produced better results. These findings can be looked at in two ways. It can be said that the leaders are popular as they are good at what they do. Besides on the flip side it can be stated that popular leaders are able to motivate and make their sub ordinates perform better. According to one research, popularity is dependent on various factors. The research aimed to find out what makes a child popular at school. Early Family environment plays a role in developing a childs behavior. That behavior plays a role in the popularity of the child at school (Conti, Galeotti, Mueller, and Pudney, 2009). Another research intended to find out the reasons of people communicating with each other in office. It said that people who communicate in turn influence the behavi or of each other (Anderson and Martin 1995). Popularity at work and Job satisfaction Office popularity plays a role in job satisfaction. Zelst (2001) found that employees, who feel that they are high on interpersonal popularity, are able to perform better on job. This research also gave reasons of the claim. A person who is popular is likely to feel greater job satisfaction. Besides he or she considers the working environment to be worker friendly. Another positive and important factor for a popular employee is that the relationship with co workers is extremely pleasant. This includes the relationship with upper management. In essence it means that the communication channels with top management are open for that employee. The last finding of this research was that a popular employee feels that the company thinks for welfare of employees. So, clearly a popular employee benefits the company as he or she is more likely to stay loyal. A research states that an employee with a positive outlook is more likely to be popular among his co worker than an employee who has a neg ative outlook towards life. A positive employee is more likely to mingle around with his fellow staff and gain fame. Adverse effect of Popularity However, being popular has some drawbacks as well. One research finds show that people who are popular are more likely to face bullying at work. The reason stated is that as everybody likes them, so some people find a reason to hate or be jealous of them. This makes popular people vulnerable to bullying (Tariq, and Ali, 2011). This research shows that Fame and popularity can be a double edged sword sometimes. Appearance and Popularity A research concluded that good looks are a major advantage for people. People tend to make a positive impression and perception for co workers who are well maintained (Langlois, Kalakanis, Rubenstein, Larson, Hallam, and Smoot, 2000). The research concluded that such people are more likely to get positive response from their co workers. Being physically attractive would include dressing well. This was a general research. Other researches have questioned the relationship between popularity at work place and being attractive. Some early researches had shown that once a person is well aware of the mental abilities of somebody, physical attractiveness become secondary (Eagly, Ashmore, Makhijani, and Longo, 2001). However, later researches such as Hosoda, Romero, and Coats, (2003) have proved that the phenomena of physical attraction hold its affect irrespective of the abilities of a person. Celebrities have to do a lot of stuff to be able to maintain their image, especially in their dres sing. So to become an office celebrity, an employee should focus on dressing as well. Another research proved that perception is influenced by wearing good cloths. A research was conducted which measured the 10 qualities. This research was conducted on teachers. The test scaled the teachers on awareness, professionalism, integrity, dependability, intellect, trustworthiness, efficiency and hard work. These teachers were graded then by their principal on the above mentioned attributes. The results showed that those teachers who did professional dressing at work got the most positive results. The principal considered them as dependable, reliable and with high self esteem (Kenner, Underwood, McClune, and Stephen, 2001). This shows that dressing plays a significant role in developing a positive perception among co workers and top level management. So to become a celebrity at work, dressing sense is imperative. This point is important as the new generation doesnt consider professional clothing as important. The new generation has been brought up wearing t-shirts, and jeans (Dickerson, 2003). So, their reluctance is understandable. However many professionals still consider it unacceptable. A research concludes that many companies are worried about this trend in their employees. Often managers feel upset about their employees dressing and take it as a lack of respect towards the job (Oleck 2001). So, to gain popularity and acceptance of the top level management it is important to dress carefully. Some researchers have pointed to that fact causal dressing in offices has been slowly promoted by some market players (Lilly, 2003). However, on the flip side the perception among the decision makers hasnt changed much, as many researches show that top level management still believes in the value of formal dressing. Humor is another important aspect. People who use humor are more likeable and hence they gain popularity among the staff. Such people are able to get positive attention towards them (Scott, 2007). Another research found similar results. It found that supervisors who have a good sense of humor are preferred. The supervisors who use humor to deflate awkward situation are thought of as more worker friendly (Cooper, 2002). In another research, the same researcher explained more deeply about humor at work. Cooper explains that the humor should be non hurtful and the receiver should not feel hurt by the remark. Humor can have an adverse effect on staff, if it is not well placed (Cooper, 2002). So, the celebrity status can take a dent if an employee is making jokes at the expense of others. Everything has to be used in proper manner. Humor can only be done when the person is feeling happy about his job. In this positive attitude plays a role Some researchers believe that popularity is linked to their personal nature of a human being. An extravert is more likely to gain popularity. This is because they enjoy the attention. Rewards of being popular are not in their minds. They are just being themselves (Ashton, Lee, and Paunonen, 2002). People who tend to be helpful and not argue much have a greater chance to be popular at work. Such people are considered as understanding, warm and kind. Obviously with such perception they are highly likely to be more popular than others (Scott, 2007). As stated in the research co worker support is considered a factor which helps an employee in gaining popularity. Co worker support is considered as a critical and urgent help one can give to his fellow worker at the hour of need. Often that can make a big difference in image building, hence increasing the popularity. This is a factor which cannot be neglected. Another research state, that people who are high on self esteem are generally mor e popular at work place. Self esteem typically includes how one judges himself (Daniels Leaper, 2006). So one has to work on his or her, own self esteem to become a celebrity at work. Popularity and fame has a lot to do with confidence in other words. Ethical behaviour and popularity Ethics also play a role in popularity of a person. A persons reputation as being a fair individual can be considered as a big positive point (Jones Skarlicki, 2005). Providing equal and justified treatment to all subordinates is also considered ethical. Scholars consider that there are 4 dimensions to justice. All of these factors are related to employee popularity (Colquitt, 2001). So, if an employee is favorable to few or unethical, it is highly unlikely that employee would get fame in the office. Another interesting aspect is learning about measuring popularity. Some scholars explain that that popularity can be measured by a rating system (Bukowski, Hoza, Boivin, 1993). This research also puts friendship and popularity in different spectrums. Hence, friendship and popularity cannot be measured by the same template.

Major Sources of Finance and Funding for SMEs

Major Sources of Finance and Funding for SMEs Introduction Small and medium-sized enterprises (SMEs) are the backbone of all economies and are a key source of economic growth, dynamism and flexibility in advanced industrialised countries, as well as in emerging and developing economies. SMEs constitute the dominant form of business organisation, accounting for over 95% and up to 99% of enterprises depending on the country (OECD 2006). While not every small business turns into a multinational, they all face the same issue in their early days finding the funds to enable them to start and build up the business and test their product or service. This essay will be looking at the major sources of finance for SMEs and start ups, also will be looking at the advantages and disadvantages of this various sources. Furthermore I will be drawing from the lectures notes, seminars with different enterprise and other sources to identify these sources and their advantages and disadvantages. Funds are difficult to source for especially in this present period of recession. However, funds can be sources through various means each of which have it merit and demerits. The decision as to what source of finance will be the best will depend on, the cost of borrowing, the length of time the money will be need, what is the money for and ultimately whether the firm can payback. Burns (2007) The most important consideration in deciding the source of finance for SMEs is to strike a balance equity and debt and to make sure the source of finance suits the business. What differentiate (money borrowed) debt and equity are that financial institutions demand interest and capital repayments, but debts is usually held up against a business assets or personal properties of the owners. The sources of finance for start-ups and SMEs can be divided into two: internal which includes (personal savings, family and friends) and external includes (trade credit, venture capitals, business angle, hiring and leasing, bank loans, Factoring and invoice discounting, grant, bank overdraft). Internal sources: Personal savings, family and friends: this is often the starting point for most SMEs where the owner uses his/her savings to start up the business, may be later in the business others may be prepared help you out example the case of Amazon that was shown in class where his parents and friends helped at some point, also is the same for most of the entrepreneur brought on in the seminar. It should be noted that for family and friends the reason for funding should be known as some may give in turn to have share of the business which might not be explicit, in other to avoid these a written agreements would be a better option stating the basis of such funding. An advantage is that this shows that the owner has some level of confidence and commitment to the business enterprise and might make it easier to gain money from others. It costless form of finance, but there is higher risk of the money being lost since the entrepreneur idea might not be fully developed. External sources: Grants: Grants are often available from councils, local authorities, and other Government agencies for specific reasons. For example there may be plans by the government or council to revive or encourage the development of a sector or an area. Alternatively there are some institutions that helps entrepreneur to lunch new business. One disadvantage is that assess to grants can be competitive as some businesses are classified more important than others and it can be very difficult to locate an individual or organizations who will be willing to give funds for small business. An advantage is that most grants dont require payback and has no interest. Bank Overdraft: An overdraft is agreed sums which a customer can overdraw form his current account. Bank overdraft can be a good source of short-term finance to help a business with seasonal shortage of funds that does not require long-term solution. The charges varies and are linked to the bank rate. The advantage of overdraft is that it is always there when it is need and it is at no cost (however small fee are charged) it helps to maintain a good cash flow. Also it is quick to set-up when compared to a loan. Overdraft disadvantages. The interest rate on an overdraft can be quite high, especially for small firms where the risk to the bank that they might not get their money back is greater. In addition, the business is not allowed to exceed their overdraft limit. If they do, the bank might refuse to pay cheques to creditors and may hit the business with a hefty charge for exceeding the limit. Overdraft facilities can be re-negotiated but if this is tried too many times, it may be a signal to the bank that a business has not got control over its finances. Venture capitals (VCs): It is also known as private equity finance. This source is often most times used in the early stages (or a later stage depending on the type of VCs) of developing a new business, where the risk of failure is high but the possible earnings may well also be high. Venture capital dealings are, just about  £500,000 to  £10 million, or above. Venture capital most time provides second round financing after Business angels. Venture capitalists invest large sums of money in return for a share in the firms equity and also expect a good return on their investment. It should be noted that venture capitalists most times are firm or representative of a parent firm. One advantages of getting a VC are they provide large sum of finance and the significant expertise, contacts and experiences they have acquire while running other businesses. Furthermore successfully attracting a venture capital makes it sometimes easier to get others for further funding. Example of theses i s the Dragons Den. On the other hand disadvantage getting a deal with a venture capitalist may be a long and difficult process. As it will require drawing up a well detailed plan, financial projections which may require professional help or friends who have such knowledge, legal requirement may be needed on getting to the negotiation stage all of these services will have to be paid for whether or not the fund was secured. Also there is tendency for VCs to influence or take control of the business. Business Angels: Business angels (BAs) are also know as angle investors, they are rich individuals who invest in a potential high growth businesses in return for a share in the ownership of the business. They are typically involved at an early stage of the business. Some BAs invest as an individual, while others do as part of a group, or investment club. BAs often make their own skills, experience and contacts available to the company. BAs in general invest in businesses between  £10,000 and  £750,000 as individual and up to  £1,000,000 or more as a group. One advantage of BAs is that they often make an quick investment decisions, without complex assessments. (i.e. when it appeals to them or an area of interest) However, a professional and well prepared business plan will be needed to get their attention. Most BAs bring relevant experience, skill, time, and contacts they have built up overtime. Most BAs are committed and do everything within their power to make the business wor k. The disadvantage of BAs is that they are difficult to find and dont make investments very regularly, more time will be spent with the BAs rather with the business giving information, The entrepreneur may loss some level of control over the business, locating the right investors may be difficult, also there is tendencies for the BAs to want to stay in the business therefore becoming a â€Å"devil†. The British Business Angels Association (BBAA) is a good source of locating BA networks also they help in preparing and presentation of business proposals. Invoice Discounting and Invoice Factoring: This involves a company outsourcing its invoicing activities to an external organisation. It makes funds available in few days to the business base on the values of the outstanding invoices. Then process, It begins by the firm making sales, sending the invoice to the customer, sending a copy of the invoice to the factoring institution where necessary negotiations and investigations is carried out on the customer after which an agreed percentage of the invoice is paid by the factoring company, usually 70-80% within 24 hours. This service comes with a cost which include administration charges, interest, credit protection charges, etc. the major advantage of this source of finance is the quick availability of funds which can be channel into another aspect of the business, also with presence of many factoring companies, this makes prices competitive, further it makes preparation of financial planning and cash flow easier and smoother, it can be an efficient and cost effective was of sub contracting that area of the business which reduces the time spent chasing payment. It is also an opportunity to know the credit standing of your customers which can help in negotiating a better deal with your suppliers and customer. The down side is that the charges will imply a reduction in the profit margin, in addition it may limit the way business is done as the factoring company may want to vet your consumers. It may reduce the extent of borrowing as the invoice is not available as security, also some customer may prefer to deal directly with their suppliers. In the situation where the customer default the business has to pay also an additional fees may be charged. Trade credit: some businesses depend on the purchase of a product from other companies (suppliers) to run their enterprise. Trade credit is a case where a supplier gives out his product to a customer on credit expecting to pay at a later date. Most trade creditors allow for a period of 30 days or longer before payment are made, this can allow the business to use the funds in the short term to finance other things. This should be done with caution so as not to risk upsetting the supplier and put at risk the future working relationship of business. Advantages of Trade credit: By setting up trade credit it will require less money to start up a business, this can be really important to those who have little capital in starting up a business, also the ability to buy now and pay later, the business can purchase the item and sell them at a profit before payment are made. With this the business time to focus on other areas of the business like marketing etc rather than worry about paying the ir supplier. It also makes for improved cash flow and smooth operation for the business. Example of all these is the case of QPC as discussed in the seminar. The downside to trade credit is if the business fails to meet the deadline it may leads to poor credit history which might limit the business chances of securing funds elsewhere. Also it can be difficult to get trade credit as only firms with good credit history are given, however these can be difficult to build as a new business. Hire Purchase and Leasing: Hire purchase and leasing allows a business to acquire an asset without paying the full-price. The business will have the right to use the equipment for a period of time after which they can buy it at a reduced price or return it. These means is mostly used in the purchase of heavy equipment. Leasing an asset makes available some working capital that can be use in other areas of the business. In a lease, the business is paying for the use of an equipment or machinery but do not own it. A lease agreement on an equipment or machinery, for example, might mean that the firm pays out  £250 or more per month for a 3-4 year lease. At the end of the years, the equipment or machinery is returned to the owner. Some advantages of leasing equipment include, having and using an asset without having to pay the full cost up front, so cash can be diverted for other purpose. it gives the business access to a modern standard of equipment, which might be too costly to buy u pfront payments are spread over a long period of time., leases can be helpful to business which carries out short projects or needs equipment for short time as they dont have to buy such equipments out-rightly. With the payment based on the fixed period of time the equipment will be use and fixed monthly rental costs, this helps the business to budget for the future, forecast cash flow and plan effectively. It also reduces the cost of maintenance, as the leasing company will be responsible for that and carries the risk of the equipment if it breaks down. Capital allowance can be claim on the equipment. The asset can be purchased as a reduced price. Some disadvantages of leasing equipment: it can work out to be more expensive than if you buy the assets outright, Capital allowances may not be claimed on lease equipment less than five years in some cases seven years. Business can be stocked into inflexible medium or long-term agreements, which may be difficult to terminate. In the case of Adrian Lauchlan who got a big warehouse and later discovers it was too big but could not break the contract due to the length of time. Leasing contract can be complex to manage and can add to the management operation, businesses has to be VAT-registered to take out a leasing contract, the asset are not owned despite paying monthly for it. Bank Loans: Bank loans can be a couple of thousand to hundred thousands of pounds depending on the security and business prospects. A loan is an amount of money borrowed for a set period with aim of paying back at an agreed date. The repayment will depend on the size, length of the loan and the rate of interest. The terms and conditions of loan vary with providers and may be negotiable. Loan periods varies between 1 to 10 years, with some going up to 20 years, though each lender have a number of loan packages to suit various business needs. The riskier the business, the less likely to be able to borrow, and the higher the interest rate charged. This helps the bank to ensure that they are covered even if the risk does not pay off. Advantages of loans: Banks loan are reliable because the money is guaranteed throughout the agreed period generally three to ten years unless there is a breach of the loan conditions. If the loan will be use in the purchase of equipment it can be tied to th e lifetime of the equipment or other assets youre borrowing the money to pay for. Loans do not require giving up part of the business as of the case of an investor but the interest which serve as the cost must be paid. Some loans have fixed interest rates which are easy to calculate. Disadvantages of loans: Most loans are not flexible once the payment date are fixed also they have strict terms and conditions, there might be difficulty in making monthly repayment when customers done pay on time therefore causing cash flow problem. Most loans are secured against the business owners property or the asset of the business, but these properties will be at risk if the business defaults. Adrian Lauchlan almost lost his house due to low cash flow. Businesses are charged if the loans are paid before the end of the agreed period. In situation where more funds are borrowed than needed interest will be paid on fund not used. The bank will not be willing to increase the loan without an increase i n security. In conclusion, the essay has discussed some of the major sources of finance and also discusses their advantages and the disadvantages of this various sources, it should be noted that each firm or business should choose the most appropriate sources of finance that suits it mode of operation and kind of business. References http://www.entrepreneur.com/money/buyingandsellingabusinessmikehandelsman/article204238.html The OECD Policy briefing (2006); Financing SMEs and Entrepreneurs. Burns, P (2007), Entrepreneurship and small business 2nd edition, Palgrave, Basingstoke. http://ec.europa.eu/enterprise/newsroom/cf/newsbytheme.cfm?displayType=library=en http://www.lbangels.co.uk/downloads/Raising%20Business%20Angel%20Funding.pdf ACCA SME UNIT :Improving SME access to equity finance: http://www.accaglobal.com/pubs/general/activities/library/small_business/sme_policy/equity_investment.pdf Financing Innovations: InnoSupportTransfer Supporting Innovations in SME: http://www.innosupport.net/uploads/media/8_1_Sources_of_Finance_for_innovation.pdf Thorne.S (2007), sources of finance: http://www.eic-guide.co.uk/docs/src_finc.pdf Irwin.D Scott.J (2008) Barriers to raising bank finance faced by SMEs, Queens University Management School, Belfast. Fraser, S. (2005), Finance for Small and Medium Sized Enterprises: A Report on the 2004 UK Survey of SME Finances, Warwick Business School, Coventry.

Grapes of Wrath :: essays papers

Grapes of Wrath In John Steinbeck’s epic, The Grapes of Wrath, the Joad family is the example of the working class family during the 1930s. The novel depicts the Joad family as they are struggling to move from an infertile farm in Oklahoma to the gold coast of California. They are driven off of their farm by not only the â€Å"dust-bowl†, but because they can’t pay the mortgage to the banks, despite their hard work. Work is a very important theme in the book. Steinbeck is describing a family whose livelihood comes from working on the land. This has two meanings. The first describes their jobs as farmers who are literally working on the land to make it produce crops. The second meaning however is much deeper; it describes the actual process that farmers such as the Joads go through on the farm. They â€Å"work† the land by cultivating it and treating the soil the right way. They put their own blood, sweat, and tears into the land. In return the land sprouts crops, which they would then sell for money. The land however is destroyed by the dust bowl and the Joads have no place to work. They are skilled only for the farm. This is the first idea that Steinbeck gives about work. He shows a family with a skill, but in a place where the skill had no worth. Al seems to be knowledgeable about fixing cars, but for the most part, the only way that the Joads have, or can survive is as farmers. This is a direct statement on what the Industrial revolution was doing to America in the time period. The jobs on the farm that were done by hand were becoming machine tasks. Steinbeck makes a very blatant statement against the machines that came about and blamed them for much of what happens to the Joads that force them to leave the land. Steinbeck doesn’t only use the machines as the machine that literally forces the Joads off of their farms, but also incorporates the ideas that the big businesses are using the machine to do the jobs of the actual farm families. Work is what the driver of the tractor had to do when he comes to remove the Joads from the land in Chapter Five.

Analyse the case study with reference to Michael Porter’s Theory :: Business and Management Studies

Analyse the case study with reference to Michael Porter’s Theory of Competitive Advantage and answer the following question: Does America have competitive advantage in the textile and garment industry? Analyse the case study with reference to Michael Porter’s Theory of Competitive Advantage and answer the following question: Does America have competitive advantage in the textile and garment industry? You answer must include the following elements: 1. A clear outline of Porter’s theory with supporting references. 20% 2. An analysis of the case study with reference to the 4 main elements of Porter’s Diamond. (N.B. You will not be able to comment on company structure, as the case study does not include information on this. You should, however, refer to factor conditions, demand conditions, firm rivalry and related and supporting industries.) 40% 3. An analysis of the case study with reference to Porter’s secondary points of chance and government actions. 20% 4. Your conclusion. 10 % The remaining 10 % will be for grammar, style, clarity, using the correct system of referencing (the Harvard System) etc. Literature: Michael E. Porter. The Competitive Advantage of Nations. Does America have competitive advantage in the textile and garment industry? For a country to have a competitive advantage, it is necessary to understand Michael Porter’s Theory of National Competitive Advantage. Michael Porter introduced a model that allows analysing why some nations are more competitive than others are, and why some industries within nations are more competitive than others are, in his book The Competitive Advantage of Nations. This model of determining factors of national advantage has become known as Porters Diamond. It suggests that the national home base of an organization plays an important role in shaping the extent to which it is likely to achieve advantage on a global scale. This home base provides basic factors, which support or hinder organizations from building advantages in global competition. Porter distinguishes four determinants: Factor Conditions The situation in a country regarding production factors, like skilled labour, infrastructure, etc., which are relevant for competition in particular industries. These factors can be grouped into human resources (qualification level, cost of labour, commitment etc.), material resources (natural resources, vegetation, space etc.), knowledge resources, capital resources, and infrastructure. They also include factors like quality of research on universities, deregulation of labor markets, or liquidity of national stock markets. These national factors often provide initial advantages, which are subsequently built upon. Each country has its own particular set of factor conditions; hence, in each country will develop those industries for which the particular set of factor conditions is

Economic Development Record Essay

Economies all around the globe develop over time depending on the policies that they undertake to utilise the resources within their boundaries. Nations that utilise their resources experience economic growth and there is great inflow and outflow of goods and services in those nations. Economic growth means that the nation is utilising its resources efficiently and this has resulted into increased productivity within the various sectors of the economy. Industries within the nation increase as a result of the improved economic performance that will result to the creation of more employment opportunities hence reducing unemployment levels in the nation (Daquila 2004). Due to the increase in the number of industries and output in the already existing industries, employment opportunities increase and this brings about a reduction in the number of citizens unemployed. Unemployment is very crucial in calculating a nations GDP which is an indicator to a nations performance. Economic growth depicts an increase in pa capita income. This is the income associated with every individual in the economy although they may not have it in their possession (Daquila 2004). Pa capita income is calculated by dividing the overall value of the economy proportionately divided between the nation’s overall economy. On the other hand, Daquila (2004) defines economic development as the improvement in the livelihood of individual citizens of a nation together with that of the systems that are in place in the nation. A nation’s system involves economic, political and social framework from which the economy operates in. All the above plus economic growth defines economic development. Economic performance is measured using various tools that include GNP and GDP. GDP estimates the economic performance giving consideration to internal and external trades (Daquila 2004). In establishing the GDP, consideration is given to consumption in the nation, expenditure by the Government, investments in the nation, trades in the nation that is imports and exports. Consumption comprises of perishable & non-perishable goods and services within the nation. In determining the non-perishable goods they are assumed to be products that will last for a period of three years from the date of manufacturing. GNP refers to the difference between imported products and services and the exported products. The value of this difference added to the value of products & services generated within the economy results to the GNP. To evaluate the economic performance of a nation, a number of indicators are used to measure exactly how the economy is progressing towards its economic objectives. A nation has to determine the level of consumption of its individual citizens (Todaro 1997). The level of consumption means the proportion an individual spends after receiving their income. The remaining part of the income is saved. The consumption level of a nation determines the amount of savings in the economy. Savings on the other hand, stimulates growth in the economy. When individuals increase their savings, the financial institutions hold more money thus the cost of accessing funds is low. Business entities in the nation are able to access funds at a low cost from the financial institutions. The borrowed funds are used for the expansion of business operations across the industries within the economy. The expansion of business activities results to an increase in national output and employment (Munk & O’Hearn 1999). The increase in national output increases the exports of a nation in respect to its imports. The resulting balance of trade will be positive hence the nation has more in terms of foreign reserves that will assist them when it comes to purchasing produces from other countries. Therefore, savings are very vital for the improvement of the performance of an economy. T o induce savings in the economy, the opportunity cost of saving has to be high so that individuals can adopt a trend of saving since they are compensated bountifully for foregoing consumption. It can be concluded that increase in savings results to an increase in investments that contribute towards the growth of an economy. Increased activity within the economy results to an increase in production levels of the economy (Ros 2000). The nation is able to produce more products & services, that are able to meet the needs of the nations population. Since the products are locally manufactured, they are quite affordable thus individuals are able to spend less and save more. This results to an increase in the real income that individuals have in their pockets and are ready to spend. It should be noted that increased production has to be met by equal consumption otherwise it could result to losses that will hurt the economy. Depending on the expansion of the economy, rates of unemployment adjust themselves in more or less the same rates. Increased production will require an increase in manpower that will be able to maintain the production levels. Nations with large populations face a major challenge in absorbing its citizens in the workforce. Individual citizens for a start need to have the relevant skills required to perform in different industries. Education in these economies has to be committed and directed towards instilling individuals with the necessary skills that will be useful in rendering service to the various sectors of the economy. A skilled population results to economic development since the individuals are prone to exercise their skill base towards living a better life thus contributing to the economy’s growth. Economic development depends also on the expenditure of the nation’s authority (Preston 1999). The government consists of various departments that oversee the implementation of policies that improve the state of the economy. These departments are given the financial power to implement and improve on the various economic aspects for example the development of basic infrastructure within the economy. In improving the infrastructure, the government releases money from its coffers to the public. This way, the supply of money increases to equal its demand. In most cases, when the Government spends on its development programs, money supply is more than the money demanded. If this situation is allowed to go unchecked it might result to inflation and later to stagflation; a situation where both the unemployment and inflation rates are so high. Therefore, Government involvement in an economy has to be considered carefully when undertaking development projects. Increased rates of production in an economy increases the output levels that may go over and beyond in meeting the local demand. Having satisfied the local demand, excess products can be exported to other nations. This facilitates international trade where nations exchange commodities they have in excess for commodities they do not have. Nations should avoid importing more and exporting less as this leads to a negative trade balance. This means that the nation spends more in foreign currency than it receives. Third world and developing nations should consider the above variables if they are to achieve spurred economic growth. They most important is to ensure that their population is skilled so that they can utilise their skills by establishing some income generating activity that will create employment opportunities and increase the total production of their economy. MALAYSIA. The present day Malaysia attained independence in the 1957 from the British administration and accorded the sovereign status in 1963 (Malaysia 2008). The Britons established themselves in early 1880’s and later went on to control the state by establishing a self governing authority for the Malaysian people. The Federal States of Malaysia were incorporated in the 1895. The states were under the British control until when the Japanese invaded in 1942. Britain waged war over Japan and in 1945 the states where reinstated under the jurisdiction of the British. In 1948, guerilla movements begun protesting against the colonial authority that resulted to an emergency declaration. In 1965, the Federation state of Singapore disintegrated from the member nations opting for self governance. 1957 saw the attaining of independence of the Federation from the British authorities. In the late 1960’s, the Malaysian government sought to balance the economy among its nationals so as to attain economic development by equal distribution of national wealth among its constituent communities (Malaysia 2007). Malaysia has got a rich culture that is evident from its diverse communities and language speaking citizens. Its population consists of Chinese speakers, Indians, English, among other languages (Malaysia 2007). The large population consists of Malaysian natives alongside Chinese, Indians and other local communities. Malaysia consists of individuals who practise different religious beliefs that include Hindu, Islam, Buddhist, Sikh among other religions. The richness of Malaysia presents it with a competitive workforce than any other nation in the world. The improved economic performance of Malaysia is as a result of a united people from different cultures and not allowing politics to ruin their nation. Malaysia has had to maintain a united nation and focussing on the togetherness of the nation by avoiding self interests. Malaysia is enriched with natural resources that include crude oil and that it has had to deal with the resource in a careful manner to avoid the negative repercussions that result from the unfair distribution of natural resource gains. Gross Domestic Product (GDP). The GDP reflects the total activity in the economy. This considers both the public and private sectors of the economy and their contribution towards the development of the economy. It also takes into consideration the behaviours of the citizens in regards to spending. Malaysia’s GDP has been increasing constantly from 1998-2008 at a rate of 6- 9 per cent. In 2007, the GDP stood at $357. 4 billion. Malaysia’s population is slightly higher than 26 million thus giving a pa capita income of $13,300 (UNDP 2008). The GDP in 1986 was at $28. 2 billion. The GDP increase signifies an increase in all major facets of the economy. Government spending has increased from 16. 4 in 1986 to 12. 0 in 2006. The Government’s decision to reduce its spending avoids the negative impacts that result when money supply is more than the money demanded in the economy. Key sectors of the economy that have immensely contributed to the GDP are industrial sector that has been a leading contributor since 1986 to 2006 with a percentage of 49. 9 compared to 38. 5 in 1986. Manufacturing follows a close second with 29. 8% in 2006 from 19. 3% in 1986. The provision of services has also reduced from 41. 7% to 41. 3% in 2006. Lastly, agricultural sector has reduced its contribution to the GDP from 19. 8 per cent to 8. 7 per cent in 2006 (Malaysia 2007). The above data shows that the economy has shifted its dependency on agriculture as a contributor to the GDP. The economy has shifted its focus mainly from agriculture to industrialization where industries are the main contributors to the GDP. Industrial growth is a major boost to the Malaysian economy since it increases the nations production ability and is able to meet the demand of the nations internal demand. This has elevated Malaysia to an industrialized nation due to its potential ability to the production of services & products. These increased production levels are able to meet local and international demand hence receiving foreign currencies that will result to a positive capital account. National Consumption and Savings. According to the World Bank report, the percentage of consumption by the citizens that was used in calculating the GDP decreased from 54. 2 in 1986 to 50. 3 in 2006. That of the government decreased from 16. 4 per cent to 12. 0 per cent . The mean growth per annum indicated the citizens consumption had decreased from 9. 1 to 7. 0 and Government spending reduced from 6. 5 to 5. 0. The figures show that both the Government and individuals in the nation have adopted a behaviour of saving or reducing their spending habits. By reducing spending, more is saved with the nation’s financial institutions as the individuals are compensated for foregoing consumption. Savings spur growth in the sense that investors will borrow funds and expand their business activities that will result to an increase production. The increase in production across the industry results to increase in the national output. An increase in national output will increase the nations participation in international trade thus achieving a favourable trade balance. Low government interference in the economy maintains a stable money supply within the economy. By maintaining stability in money supply in the economy, inflation is avoided since it negatively impacts the economy. Increased government expenditure increases the money supply in the economy. This increases the purchasing power of individuals in a way that they can be able to purchase goods and professional services in the country. This presents a situation whereby there is much money chasing few goods within the economy. To mop up this effect the regulating financial authority will need to increase its interest rates. This means that there will be an increase in cost of borrowing that will result to inaccessibility to funds by corporate organisations. Corporations will be unable to maintain their current levels of production thus the need to lay off its workers. This situation will be characterized by increase in unemployment rates, reducing national output and economic performance. The economy will not be performing at its optimum and will have wasted on its human resource. Therefore, Government involvement in large amounts destabilises a nations economic performance. Income and Output Growth Rates. The export of manufactured products have increased since 1986 from USD6. 009m to USD124. 530m in 2006 (World Bank). The above figures indicate that manufacturing has increased over time and that the economy has shifted its focus to increasing its industrial capacity. By increasing industrial capacity ensures that the nations industry is able to satisfy the ever growing demand of the nation. Economic development requires that a nation first satisfies its population fully before embarking on the satisfaction of outside markets. The nation is required to make sure that all key markets are satisfied and that the demand of a nation is met. These means that different industries will have the capability of serving different markets. Unless a nation’s population is satisfied, development of an economy is difficult. New industries are formed that provides the final consumer with a product similar to those of another company to enhance competition. Competition among industries ensures the production of quality products that will give the consumer a wide range of choice. Companies will strive to out do one another in both the primary and secondary markets. The increased income and output growth rates can be attributed to the rich natural resources that are found in the nation. The natural resources are raw materials that are processed into finished products that are exported to international countries. As of 2004, its partners included the US, Korea, Singapore, Germany, Japan, Hong Kong, Indonesia and China. Among the raw products include oil, copper, timber, natural gas and iron (Malaysia, 2007). Most industries in Malaysia are processing based located mainly on the western island. They process the raw materials that are extracted into finished products. It is due to this value addition that the nation is mainly industry based and most of the population is employed. The industries in Malaysia also deal in the production of textiles and electronic equipment. They development of industries in the large scale have contributed significantly to the development of the Malaysian economy. Employment and Unemployment Percentages. Malaysia’s population comprises of the elderly, the middle aged and the young. From the world bank report, children legible for enrolment into primary schools stood at 96 percent for both male & female students in 2006. this indicates that the Malaysian government embraces education as a factor to economic development. A skilled population is economically beneficial since the individuals will strive to utilise their skill base towards achieving their own development that will later translate to economic development. One of the key issues addressed by the UNDP towards achieving the Millennium Development Goals (MDG’s)is human capacity building which means that nation should ensure that they impart skills on their citizens by way of offering courses education to all its citizens and ensuring that it is affordable for all (UNDP). A nation that has an educated population is set to reap benefits from that same population because they will aim at exercising their knowledge in the various fields of expertise and also aim at developing products that will improve on the already existing ones therefore looking for new efficient ways of production. Malaysia’s literacy rate stands at 89 percent as of 2006 indicating that most of the population is skilled resulting to lower unemployment cases. Malaysia is among the developing nations and is striving to attain the MDG’s that will direct them to achieving a developed world status. With about 5 per cent of land is available for farming, Malaysia cannot only depend on farming and that the population must acquire some knowledge in other activities. As of 2007, Malaysia’s unemployment rate stood at 3. 2 per cent and inflation rate stood at 2. 1 per cent. The Phillips Curve states that inflation and unemployment are inversely related whereby high inflation results to low unemployment rates and vice versa. This is because when there is high inflation in an economy, most of the population has got some amount of money therefore resulting to some form of engagement in income generating activities. Therefore Malaysia as an economy has really tried in dealing with unemployment levels by making sure that a large part of its population is skilled. The Malaysian Government has formulated a number of policies aimed at improving its economic performance for example the New Economic Policy of 1971 (Malaysia 2007). Government Budget Activity. Government involvement in an economy should be restricted for it can have diverse negative impacts on the economy. The government, however, has got to interfere with severally in the economy since it has to provide for social amenities such as water, education, infrastructure among others for they cannot be left to the control of the private sector. When providing for these amenities, the Government gets money from the state coffers and pays the contractors among other parties that will implement development policies in the nation resulting to increased money supply. By increasing money supply, prices of products rise since the demand for the products will also increase. This will lead to increased production of products and increase national output that will result to more employment opportunities. Therefore government interference is good in the short run as it will stimulate the economic activities. However, continued government interference will hurt the economy in the long run since more money is available in the nation thus raising the prices of the products in the economy. The soaring inflation will then destabilise the nations exchange rate that will depreciate. With the depreciating of the local currency, Ringgit, imports become expensive since industries and individuals will require more money to import products thus hindering the efficiency of engaging in international trade. From the world bank report 2006 on Malaysia, 99 per cent of the population has access to clean water supply. The government has therefore given preference to the basic resources that affects the Malay in their daily lives. The report also gives the figures for Government involvement as; current revenue has decreased from 26. 8 per cent in 1986 to 21. 6 per cent in 2006 while the overall budget balance has increased from a deficit of -0. 8 per cent in 1986 to 2. 8 per cent in 2006 (Malaysia 2007). This figures indicate that the government has restricted on its involvement in the economy so as to control the economic impact caused by excessive Government involvement.