Econs Tut

The policies directed at the capital account could include interest rate policy, action policy (related to Foreign Direct Investments) and complementary infrastructure and Other supply side policies such as employer CAP levels. To manipulate current account, the government by and large does not use protectionism except for domestic service sectors, such as banking, fiscal policy due to small multiplier and does not aggressively undervalue currency because of fears of imported inflation.For the capital account, since we have elected to choose exchange rates and free capital movements as our two choices, it does not use interest rate and UAPITA controls. Singapore does not want to scare away Foreign Direct Investments by implementing controls. Singapore mainly relies on supply side policies as the government tends to be more far-sighted and focuses on returns on the long run. The Balance of Payments will be analyzed as such.Even in crisis periods such as early 2009, Singapore does not react much with exchange rate changes but instead encouraging foreign and few domestic firms to remain in Singapore by offering lower wage (and subsidizing for the lowest wage) and better tax areas. The opinion is that sudden exchange rate changes are inflationary and destabilize. Therefore, the typical exchange rate policy has been one of the slow and steady appreciate of the Singapore dollar in line with gradual improvement in performance of the current account.The underlying policy behind the improved current account performance and how the exchange rate strengthened Balance of Payments come from the following. If rusty, Singapore develops current account in areas of higher value added to AP into growing world of incomes and to avoid goods where prices are volatile, such as those primary products exported by many developing countries. Also, Singapore constantly aims to raise value added to stay ahead of other countries which are building their current account.This involves increa sing expenditure on human capital and strategic alliances with firms that can make use of such labor by offering supply side support. Critic: Employer's CAP, Wage Flexibility, PR Protection, Physical infrastructure improvement, corporate tax regimes, manpower development There is not much to change because Singapore has one of the strongest current accounts in the world.

Life Before the Internet and After the Internet Essay

Life was very different before the advent of the Internet. Communication methods were limited, stores were the only place to buy goods and services, and physical libraries were the only place to find information and research. The three biggest changes caused by the Internet are in communication, sales, and access to information. The Internet has changed the way people communicate. It allows for instant and reliable communication between people across the street or across the globe. In the past, the only ways to send documents were via fax and postal mail. Faxes were limited because messages could only include two-dimensional text and graphics. The postal mail faced these same issues, as well as the problem with the time it took to send a document through the mail. With the Internet, documents with text, graphics, audio files, video files, and interactive objects can now be transmitted quickly to anyone with a simple click of a button. This has changed the way business is done and has made it easier for companies to expand into new markets. On a smaller level, the Internet has allowed people to reconnect with old friends or make new ones. Chat rooms and social networks such as MySpace. com are becoming increasingly popular as people enjoy the sense of anonymity. The second way that the Internet has changed the world is in the buying and selling of goods and services. With the ability to purchase products online, the business world has changed drastically. Online stores are competing for business, while established brick-and-mortar stores have set up web-based stores as well. Customers can now purchase nearly everything they need from the comfort of their own homes. The Internet has also allowed for quick and easy comparisons of the prices and quality of products and services. The final and most important impact of the Internet is in the access of information. In the past, if you needed to find information on the history of Latin America, you had to go to your local library. Then, you were limited by which books and resources the library carried. With limited budgets, libraries cannot be expected to carry the best sources for every topic. Today, you can access information on any topic from the Internet through academic journals, online encyclopedias, book reviews, and more. In addition, you can find information on every television and radio program, historical events, current events, health issues, scientific discoveries, sporting events, and theories on everything from biomedicine to parenting. Finally, being able to access information online has led to colleges and universities offering degrees where it is not necessary for students to ever step into a classroom. Lectures, PowerPoint slides, notes, and required readings are available on the Internet. In conclusion, the Internet has significantly changed the world in the way people communicate, do business, and learn. The rapidity with which these changes took place suggests that more drastic and exciting changes are still to come. New and innovative uses for technology are developed every day, and the Internet is a major focus of these developments.

Analysis of Harrah’s Entertainment Case: Rewarding Our People

Chris Martin BADM 7070 11/23/12 Harrah’s Entertainment, Inc. : Rewarding Our People Marilyn Winn faces a tough challenge to improve employee satisfaction and motivation in a struggling economy that has just experienced the 9/11 disaster. Many of Harrah’s employees feel that the incentive program that Winn has implemented sets goals that are too aggressive while others feel a sense of entitlement for the bonuses.Both of these cases do not help Winn improve employee motivation and customer service. Winn needs to find a way to revise the employee rewards program that she has implemented to reduce turnover, improve employee motivation, and, ultimately, improve customer satisfaction. In order to get employees at Harrah’s motivated, Winn should implement an employee drop box for any feedback of the current reward system or innovative ideas on how the system could be changed.The purpose of this drop box would be to send a message to the employees that Harrah’s va lues its employee’s opinions and cares about its employees. If employees feel that they have a say regarding the development of the system, it will lead to better satisfaction with the system overall and thus be more likely to motivate them to better serve Harrah’s customers. This feedback system could also improve turnover, as employees would feel more valued by the company.Winn could also customize current system to give employees the option to receive vouchers that are worth more than the cash reward. By getting a physical reward, employees are less likely to feel entitled to the reward. Implementing these two plans could greatly improve employee satisfaction and could help to achieve Harrah’s most important goal: customer service.

Reading Reflection Essay

Question 1. What does Heilbroner mean by the ‘economic problem’ and how does ‘tradition’, ‘command’ and ‘the market’ â€Å"solve† it? Why does Heilbroner think ‘economics’ is of no use for studying pre-market economies? (chapter 1). In the first chapter of this book, the author illustrated several concepts. Firstly, ‘economic problem’ was defined as â€Å"extraordinary variety of ways in which human communities have wrestled with† (Heilbroner, p.9). Secondly, ‘tradition’ solved the economic problem by customers. For example, a son will do his fathers’ job and run in the family. Thirdly, the ‘Command’ solved the problem by order form above. â€Å"It requires an enforcement mechanism different from internalized pressure of socialization† (Heilbroner, p.12). Lastly, the market solved the problem by the system itself, the author illustrated that â€Å"it’s just the way people behave. No one runs it† (Heilbroner, p.13). Question 2. Difference between Capital and Wealth. Heilbroner illustrated that capital is not wealth. â€Å"Capital thus differs from wealth in its intrinsically dynamic characters, continually changing its form from commodity into money and then back again in an endless metamorphosis that already makes clear its integral connection with the changeful nature of capitalism itself† (Heilbroner, p.30). Question 3. What are the two realms of capitalism? There are public and private realms. For the public realm, the capital normally holds the upper hand (Heilbroner, p.55). And it cannot perform its accumulative task without the complementary support of the state (Heilbroner, p.55). However, for private sector, government treats it as a business.

NURSING THE PERSON WITH AN ACUTE PYSIOLOGICAL DISTURBANCE. PART A- Essay

NURSING THE PERSON WITH AN ACUTE PYSIOLOGICAL DISTURBANCE. PART A- IDENTIFY WITH REASON, THOSE GROUPS OF PEOPLE WHO ARE PREDISPOSED TO DEVELOPING DEEP VEIN THRO - Essay Example 05), elderly individuals, obesity, prior history of DVT, venous stasis, local compression on the veins, and acute factors like severe dehydration (Guirguis, 2000). DVT also can occur from iatrogenic injury of the femoral veins (Wood, 2000; Joynt, 2000), malignancy (pancreas, lung, ovary, testes, urinary tract, breast and stomach), after major surgery (orthopedic, thoracic, abdominal and genitourinary procedures), following trauma (fractures of spine, pelvis, femur, tibia and spinal cord), burns, pregnancy and the postpartum period, estrogen use, hypercoagulable states (deficiencies of protein C, protein S, fibrinogen, factor V, factor VIII, factor IX, factor XI, prothrombin, and antiphospholipid antibodies), venulitis (thromboangitis obliterans, Behcets disease, and homocystinuria) (Creager & Dzau, 1998), end-stage renal disease and congestive cardiac failure (Casserly, 2000). Thrombogenesis is a finely balanced process between coagulation and fibrinolytic pathways. The interaction between plasminogen activators (e.g. tissue plasminogen activator) and inhibitors that modulate this activity (e.g. plasminogen activator inhibitor, PAI-1) influences the fibrinolytic system. Plasma fibrinogen determines plasma viscosity, blood flow, affects platelet aggregation, blood viscosity, interacts with plasminogen binding and along with thrombi, mediates the final steps in clot formation. The levels of fibrinogen associates directly with age, obesity, smoking, diabetes and LDL-C and inversely with HDL-C, alcohol use, physical activity and exercise level. Increased fibrinogen is also associated with many different forms of vascular and inflammatory disease. Impaired fibrinolysis, as demonstrated by the elevated levels of plasminogen activator, is seen in obese patients, and explains the increased risk of thrombosis and other vascular disease in the obese (Chung & Lip, 2004). Virchow’s classical triad of factors that lead to the development of thrombosis (thrombogenesis)

Costing and Traditional Costing Essay Example | Topics and Well Written Essays - 2750 words

Costing and Traditional Costing - Essay Example Activity based costing affects only overhead costs i.e. direct labour and direct materials are the same under Absorption Costing Method. A single activity pool of cost is referred to as a â€Å"cost bucket† where cost outlays for a specific activity are garnered. A measure for an activity is applied as a basis for allocation while using overhead costs. A rate of activity rate refers to the predetermined rate of overhead in Activity based costing. Activities’ Hierarchy: Guides the way costs are supposed to be grouped into various pools as well as the nature activities assigned per given cost pool Unit-level activities – done every moment a unit is produced. Batch- level activities – performed each time a batch is processed. Product- level activities – must be done regardless of the number units or batches of the output are being manufactured. Facility-level activities- have to be done regardless of the products to be produced. Task 1 Full costing and Activity based costing A) Calculations using Full costing Revenue and direct costs of products Skel Foss Total Units produced and sold 15000 units 18000 units 33000 Selling price/unit 52 91 Direct labour cost/unit (2hrs*10=20) (5hrs*10=50) Direct Material cost/unit 25 30 Sales revenue (1*2) 780000 1638000 2418000 Direct labour cost (1*3) 300000 900000 1200000 Direct Materials cost (1*4) 375000 540000 915000 Total direct cost (6+7) 675000 1440000 2115000 Calculations on Overheads and indirect costs. Indirect component Products (Skel + Foss) % of Total products Bought in parts handling costs 96000 40% Materials handling costs 38000 15.83% Sales invoicing costs 20000 8.33% Machine set up costs 26000 10.84% All other overheads 60000 25%... The paper tells that costs objects take in activities and activities take in resources. Resource cost outlays are allocated to activities based upon their utilisation of the mentioned resources, while activity cost outlays are allocated to cost outputs with the basis being cost objects in proportion to utilisation of those activities. Activity based costing puts into account causal relationship between costs and activities and between activities and resources. Using activity based costing management technique can considerably improve the financial health of a firm as it presents the real picture or the factsheet, as the activity based costing technique tracks the cost objects utilized in the activities and, thus, the factors consumed in the same activities, to determine correct individual overheads instead of simply linking on the volume. The activity based costing concept as a costing technique takes into consideration both factors. That is, the activity drivers as well as the resou rce drivers to come up with the product’s price or service. It is essential to realize that the profitability of a firm not only relies on the sales of the service or product, but also on the expenses concerned in the making of that specific service or product. In a given case study of parts of an automotive manufacturing firm located in the nation by the name Norway, it was then proven that just a minute portion of their line of products had a positive economic profit as well as return upon sales. As a matter of fact when the economic profit and operational profitability of their line of products were classified and columned side by side, that was an eye opener.

Individual Employment Law under Family And Friendly Right Coursework

Individual Employment Law under Family And Friendly Right - Coursework Example The same law applies to the case of Bruce who believes he has all the rights to take an emergency leave and still not face a disciplinary action. Bruce has the right to take care of his family. Being an employee of the Royal Mail for over fifteen years, his potential is worth being realized by the employer. The respective committee should not take his misfortunes, which rendered him to take an emergency leave as the root to any disciplinary actions against him. First, it should be understood that uncertainties can happen at any given point in life, which would certainly interfere with any person’s schedule of activities and their job as well. In this case, having to take his wife, Mary, to the hospital or even offer care to her, due to her serious illness, should not be mistaken for any other cause of the absence. Further, before leaving, he went ahead to leave a short notice about his intention to take the leave (Farnham 2000). The law provides for any employee, the right to get some time off or a leave, in the case of illnesses or the need to carry out other responsibilities, which may be proven crucial on the basis of such provisions. However, despite the given notice to his organization regarding his short leave, the best he could do was to consider the greater priority between the job, and taking care of the family emergency (Dale 2000). He could possibly have adjusted to the situation, since her mother, who would have accompanied his wife to the hospital, got ill. Since this happened, there was no option left for him but to take on the situation forgoing the time and the responsibilities he would have spent at work. However, the best thing for Bruce to do was to make adjustments regarding the laid down plans known to the employers. This he did by calling the line manager the soonest possible. However, the act on medical leave, gives an allowance for all eligible workers, to take a leave of up to twelve weeks every year, without any fears of discipl inary actions such as losing their jobs. This leave provision applies to those organizations with fifty employees or more, working within the same location of the employee seeking the leave. This may have been ignored, when the decision to punish Bruce for his change of plans by extending his leave, was taken. The leave also applies to those workers, who have spend more than twelve months with an employee, or at least twelve months; registered working hours of at least 1,250 hours a year, before the time of taking the leave according to Lewis (2008). Based on the Act provisions discussed through this source, Bruce is qualified for this leave, since he had been working with Royal Mail for over 15 years. The same act has its scope with which to protect. There are certain circumstances that are covered by the Family and Medical Leave Act. Beyond such circumstances, his employee could impose a penalty on the person taking his time off from work accordingly. Such circumstances include th e birth of a child or its adoption, the care of a child belonging to the employee, care for his or her spouse or parent. These have to be in a serious medical condition for the employee to deserve the leave. It could also be done if the employee has some serious medical c

Management and behaviour Essay Example | Topics and Well Written Essays - 1500 words

Management and behaviour - Essay Example I should say that for as long as I can remember, I am not a team player. I prefer working on individual assignments. Working in a group project, therefore, as a requirement for this module was some sort of a struggle for me. This paper is a self-assessment of my team working skills based on how I evaluate my performance in our group project at British Airways. As much as possible, I exerted every possible effort not to compromise the objectivity of the assessment. However, since this is a group project, the assessment is still in relation to how I see myself as a part of the group. The first thing I noticed was that there was difficulty right at the start. It seemed very difficult not just for me but for the entire group to get going. I began to think then that I might be stalling the progress of the group. It was, therefore, a relief that I stumbled upon a book by Levi (2001) which revealed that â€Å"start up-activities take up longer than anticipated †¦ [because] it takes time to decide on the definition and goals of a project and to develop social relations and procedures for effective teamwork† (p. 40). It was also quite a revelation to discover from this reading that the most difficult stage of a group work is the definition of the project itself. For the first time, I was reading a book that I can relate to in real life. I felt an interest in being an active and productive member of a working group. The group was assigned tasks related to booking and reservation with British Airways. We were simply given a list of tasks to complete and we we re on our own. To make the long story short, almost every one in the group would like to take on technical tasks. The first group brainstorming session ended with no tangible results. The same thing happened to the second group session to thresh out problems in the first session. To

Visual Perception (Psycology 101) Essay Example | Topics and Well Written Essays - 1000 words

Visual Perception (Psycology 101) - Essay Example Thus the retinal stimuli or the image on the retina of the eye is pretty different to what is actually viewed by the eye in the first place. Scientists and doctors alike have been researching for a long time so as to understand the basis behind such an anomaly. The people who have interest at understanding this proposition thus make it a point to find out the exact basis of the visual processing which is taking place and the relationship that is formed up between the two as a result of the same. There has been some difficulty at understanding and thus translating the basis of visual perception and the eventual processing of the visual sense as to how the same creates or at times maintains what a person actually wants to see but the image is just not there at all. Thus this phenomenon holds a lot of ground for the people who fathom that eyes play a huge part in the development of the pictures that brain wants it to make and thus portray to the human being. It is for this reason that there has been work in the related field. As concerns to the unconscious or subconscious mind, we understand the fact that inference of an unconscious nature takes place. It was Hermann von Helmholtz who devised the study which was related with the visual perception. He stated that vision had a lot of part in the make up of the unconscious inference and thus it was contemplated that vision is indeed a part of the matter which discerns the basis for a probable understanding or interpretation as concerns to data which has not been considered complete by now. Gestalt theory also has its say in the make up of the visual perception discussion. With this, we find that Gestalt researchers raised a number of significant questions which had one thing or the other with the whole paradigm of visual perception. In fact they came out with the famous Gestalt laws of Organization which have to this day facilitated in the study of as to how people think

Internal Analysis of the NBA Assignment Example | Topics and Well Written Essays - 2000 words - 1

Internal Analysis of the NBA - Assignment Example The paper will begin by analyzing the capabilities and resources NBA had before the 2010-2011 season; the analysis will be from a case study done by Coulter. The capabilities and resources in the 2010-2011 seasons will be analyzed. The best approach to the internal analysis of NBA will be discussed. The National Basketball Association (NBA) has undergone tremendous changes from a domestic sport to an international commercial sport and this indicates a major understanding of the resources and capabilities. All the success and efforts are attributed to the NBA commissioner David Stern who has helped NBA become a global brand. Professional basketball began in the mid-1990s and NBA gained the international game appeal. There are key players in the NBA who have sparked international interest. These players include Yao Ming of China, Dallas Mavericks’ Dirk Nowitzki of Germany, Pau Gasol of Spain, and Tony Parker of France, Denver Nuggets of Brazil, Gordan Giricek of Croatia and Darko Milicic of Serbia. All the mentioned are international basketball players. It is estimated that out of all the players in the NBA, 64 players come out of the United States territory. Other than the international players, NBA has taken its games globally. The NBA league has held several preseason games in the Latin America, Asia, and Europe. Among the major plans by the commissioner of NBA was the creation of multiple teams in the European region before the end of the 2000 decade. The NBA league has faced challenges like the retirement of Michael Jordan and the cancellation of almost a third of the league games in the mid-1 990s. The challenges almost crashed the NBA league. Stern, the commissioner of NBA addressed the issues by looking at what the NBA had to offer, that is the resources and capabilities.  

Discussion board reply Assignment Example | Topics and Well Written Essays - 250 words - 4

Discussion board reply - Assignment Example Hence, if the applicant is eligible and fulfills all the vital criteria of recruitment of the job, he or she should get the job, irrespective of class, race, culture or nationality. Another important issue raised is the role of advertising in recruitment. Indeed, advertisement promotes inclusion as people coming from diverse background become aware of the job opportunities and they have the option to apply for the advertised jobs. Moreover, internet has become a powerful medium of communication that greatly facilitates direct interaction between people or between the organization and the people. Thus online applications for recruitment not only saves time and money but it also helps recruitment managers to vet the applications and gives opportunities to job seekers to apply for the job online. The recruitment officers can then whet the applicants as per the job specifications and call only those who fulfill the basic job criteria. Thus, open advertisement for job should be favored against target recruitment and provide people from different background with equal opportunities to apply for the

No topic Case Study Example | Topics and Well Written Essays - 1750 words

No topic - Case Study Example Any form of emergency measure involves a set of complex chain of tasks, players, and resources, in a channel of coordination that is embedded on interdependencies for an efficient and smooth recovery of operations (Turoff 2002, 29-32). This paper makes an attempt to investigate what factors were responsible for the business crisis to arise in Rio Tinto, Japan, especially for resuming on a normal day, just after the calamity. This necessitates the need for more coordination and management of the extremities thereafter and what procedures and mechanisms to be typically utilized for coordination, decision-making and product development. Using exact criteria and in the light of the current practices of operations and resources utilizing this case study, this paper has been strategically organized as follows, a brief description of the issues, causes, alternatives, preceding the decision criteria for implementation of strategic alternatives, along with the recommended approach. The major issues that are typically emerging after any form of emergency are mostly having a relation to interdependencies in a business, as a business has multiple-level of interdependencies in terms of job responsibilities, resources, assigned personnel, and the flow of information. These are physically scattered across geographies, boundaries and departments. Therefore, any rebuilding task after an emergency involves a strategic response of either reconsidering the existing entities, dismissing others and to reconstruct throughout the course of responses to rebuild the premise. The standard procedures include standardization, planning, mutual adjustment and routine analysis (Malone 1994, 357-370; AlaybeyoÄŸlu, Albayrak and Gà ¼rbà ¼z 2012, 1-4). These decisions, howsoever varied and dynamic, will provide directions on problems solving using interdependencies. Product-design, supply-chain management, resource-management, are all affected in the course of the sudden change,

Military bearing and discipline Essay Example | Topics and Well Written Essays - 1000 words

Military bearing and discipline - Essay Example Yes, there is no denying the fact that the concept of military bearing does include all the things that have been mentioned in the last few lines. However, the thing that needs to be remembered is that military bearing is not merely about externalities. Yes, military personnel prefer to be disciplined and ordered, they do opt for dignity and respect in all aspects of their life, they are very particular about a their dressing sense and uniform, but the more important fact is that these things are an integral expression of their internal mindset and personality that gets reconstituted and remolded once they join the armed forces and stop being a civilian. Simply speaking military bearing is a state of mind. It is a way of perceiving and doing things. It is something that is not external, but rather confined to the core of existence of a military man. Discipline is the one most valued much demanded and necessary quality in the military. Yes, military is a job like many other jobs and military men do their duty like other people try their best to be true to their profession. However, with all due respect for other professions, it would not be wrong to admit and acknowledge that military is a profession with a difference. Military is about guarding the safety and freedom of the nation, about protecting the lives of millions of Americans, about turning out to be dependable and reliable partners for one’s colleagues, about a willingness to do the job ascribed to one without questions or qualms. The one central aspects of a job of this nature is that in it there may exist nothing like a second chance. If one fails, one may fail once and for all. Considering this nature of military duty, no other profession is as essentially dependant on discipline as military (Matloff 22). For what is army, but a group of individuals who are willing to set aside their personal beliefs, personal concerns, fears,

Comparative Analysis of The Communist Manifesto by Marand The Gospel Essay

Comparative Analysis of The Communist Manifesto by Marand The Gospel by Andrew Carnegie - Essay Example new phenomenon but industrialization led to the emergence of the two classes which included the laborers or the proletariats and the owners of the means of production or the bourgeoisie (Marx and Friedrich). Carnegie on ‘the gospel of wealth’, wealthy individuals who have amassed their wealth through businesses must adopt a just distribution approach that guarantees good use of the money. Money from entrepreneurship venture must be protected and not spent on frivolous purposes which have no significant implication on the society and the people. The presence of poverty within the capitalistic world can be completely removed if entrepreneurs become philanthropists who share their business spoils with the disadvantaged in the society (Carnegie). In this paper, the thesis of Carnegie and Marx will be compared to provide a critical evaluation of how they impact on the society. The paper will adopt the position taken by Carnegie in the ‘gospel of wealth’ and advocate for the redistribution of profits and proceeds from business in capitalistic economies. In the communist manifesto, Marx highlighted his views of the society and how industrialisation had created significant segregation of people into different classes. As captured in the opening phrase of the manifesto, the history of human beings has an age old practise of dividing the human population into various classes based on their economic abilities and the influence they hold in the society. The class struggles have not necessarily been influenced by everything, but more specifically the principle forms of production within the society. When the industrial revolution arose, the European society was defined by the position that the individuals held within the industries and the production factors that they controlled (Carnegie). Those individuals who had the power to own the means of production such as raw materials, the cottage industries among other form of production belonged to the upper class and

Statement of Purpose Essay Example | Topics and Well Written Essays - 250 words - 4

Statement of Purpose - Essay Example In addition, this paper will pay attention to the critical financial policies at native country with a view of establishing a stock market that is currently non-existent. Moreover, the focus of the studies is to examine how theoretical financial knowledge can be used to enhance growth in the financial sector. Additionally, a close focus on building relevant knowledge and skills that would spur economic growth to a desirable level will receive prominence. Also, attention will be given to enhancing the work experience to new graduates in order to bridge the gap between theoretical foundation and practical reality within the finance sector. In addition, today there is a great financial transformation that that requires constant research and expertise that is provided for through further studies. The financial challenges in any economy continue to mount every day, for instance, Angola faces threats of the imbalance trade so as many other developing countries. As a responsible finance specialist, the focus is to explore possible financial solutions that face the third world nations. In addition, the knowledge gained should translate to better and competent financial policies that would open doors for economic prosperity. It is sad that knowledge and skills obtained at graduate has done little to improve our local financial policies. This work will attempt to give a new dimension to the relevance of finance graduate

Risk management Essay Example | Topics and Well Written Essays - 1500 words

Risk management - Essay Example The risk in investing in real assets is different from investing in financial securities because the rates of revenue generation associated with the two are different. Generally, real assets investment requires a lot of factors that determine profit. Some of these factors, which include staffing could be expensive and if not done well affect the revenue fortunes of the company. The risk with real assets is therefore higher. Question 2 In terms of acquiring the Latvian logistics business, the company faces business risk, which is posed against the market performance of the acquiring company. With reference to this particular risk, it is advised that â€Å"good fundamental analysis and careful selection of equities are the best ways to minimize this risk† (Noble Trading, 2009). Valuation is another risk that is associated with the Latvian acquisition. The company must be in a position to undertake comprehensive valuation that factors in the unseen cost of risks so that the final quote of the project will be one that assures value for money. With reference to the Kazakhstan subsidiary investment, some of the risks associated are inflation and interest rate risks, and market risk. This is because this investment is going into an existing business that is founded by the company in question. The single reason why it is important to have an integrated risk mitigation strategy is that the company is undertaking two different forms of investments which need an integrated strategy that caters for all the different investments. Question 3 Knowing that the risk-return trade off principle generally deals with the corresponding rises in return when there is an increase in risk, it would be right to argue that the management of working capital is the ultimate risk-return trade off for financial managers because the working capital is the single most reliable source of funding that financial managers can boast of. All other funds such as credits only come in as liabilit ies that need to be defended. Therefore, the harder financial managers try to take risk with their capitals and try to overcome the risks, the more they will count their returns. It is advised that the working capital of the company should be managed in such as way that it would have a correspondence with market dictates. This means that the company should pump in much fund into real asset investment if that sector shows signs of market boom. The switch should go to financial securities if that sector also shows signs of good performance. In simple terms, the working capital of the company should chance gloomy market. Question 4 The CAPM model distinguishes between specific risk and systematic risks because of the parameters under which each of these risks occur. Generally, specific risks are more attributed to managerial and other human control risks such as mismanagement which causes variation in the aggregate of productivity whiles systematic risks are associated with â€Å"vari ation in an asset's value caused by unpredictable economic movements† (cooper, 2012). To the investors, there is an implication which is, there are moments that their own actions can create risks and so as much as possible, they should always look for ways of minimising such specific risks.

Response Paper One Assignment Example | Topics and Well Written Essays - 500 words

Response Paper One - Assignment Example Most of these issues point to the knowledge-preparation of nurses and delivery of a compassionate care. Nursing educators and students promote learning and competence by changing the methods used in learning nursing concepts. It has been identified that nursing education placed less emphasis on rote learning and memorization and greater emphasis on locating and understanding information or critical thinking. Does this mean that nurse educators should not require learners to memorize information such as the classifications of medications or normal blood values? Does the emphasis on finding information rather than memorizing it impact critical thinking skills of learners? Memorization vs. Critical Thinking Students who used memorization as a learning strategy are viewed as passive learners(Cherry & Jacob, 2005, p. 72). Memorization familiarized the students with different nursing concepts and serves as guide during academic evaluation and examinations. However, nursing education today face the challenge of an ever-changing treatment modalities and technological advances. The health care environment become increasingly complex, researches are updated, and care centers on patient and evidence-based practice.

Themes of tradition Essay Example | Topics and Well Written Essays - 1500 words

Themes of tradition - Essay Example As a result of these factors, there has been significant changes in the size, height, shape and design; both internal and external, of buildings. These changes have led to many architectural debates. Some architects argue that modern architectural designs are inspired by the traditional themes while others argue that today’s designs are original and are a result of improved technology and skills and knowledge taught in the schools today. Others argue that modern architecture is a combination of both traditional architectural and modern architectural themes. The progress of today’s architectural industry has become a debate to many and there is therefore the need to analyze how both the traditional and modern themes influence the buildings we see today. Traditional themes as depicted in architectural projects Traditional themes in architecture are based on three design values; traditional based design value, design value of restoration and preservation and the vernacular design value. Under the design value of restoration and preservation, architects believe that there is need to preserve the best of their structures and products for upcoming generations. They therefore work towards ensuring that even when a building is being redesigned; it is restored to its original design. Such architects hold on to three perspectives. The first one is the archeological perspective which holds that it is important to preserve buildings and products as part of our history. The artistic perspective holds on to the need to reserve something that is reckoned as beautiful and a masterpiece. The social perspective on the other hand is built on the need to hold on to familiarity and reassurance. The traditional based design value is based on the belief that traditional designs depict something good and functional. This value is based on three strategies; the first one is the revivalist strategy where an architect sticks to traditional forms of design. The contextualist strategy is where historical forms of design are used when the surroundings demand for such. The critical traditional strategy is based on the interpretation of traditional designs and applying them in modern architecture. Lastly, the vernacular design value is based on the belief that a simple and traditional design is more superior to the modern designs. This operates under four key concepts. The reinvigorating concept is calls for the use of traditional designs and themes in modern times whereas the reinventing concept is where architects go out in search of new archetypes. The extending concept implies the use of traditional designs in a more modern manner while the reinterpreting concept involves the use of modern and recent expressions of architecture. With these design aspects in mind, let us take a look at some of architectural projects that have traditional insights in them. Our study case shall be in Japan since it is one of the countries with a rich, traditional out view of architecture and it still builds on these views up to date. The first project is the Gender Equality Center (GEC). Fumihiko Maki, the architect behind this project, believes that an architect has to rely on his innate aesthetic preferences, ethical and traditional principles as he designs his buildings. In the designing of the center, Maki observed his traditional design values since the building reflects Japanese concepts of architecture. He

Do shops portray Christian Christmas festivity or perpetuate a Essay

Do shops portray Christian Christmas festivity or perpetuate a commercial tradition - Essay Example The messages are everywhere, creating a world that is transformed for a few months of every year. However, in looking around at the many ways in which the world does transform during this time of year, one can see that a fantasy world is created within the many delightful ways in which the decor in retail, residential, and businesses is changed to reflect imagery of everything from Father Christmas to snow fairies. The use of color becomes more extravagant, the explosion of glittering ornamentation becomes rich and vibrant with color combinations being bold and celebratory. Lights are twinkling everywhere one looks and the world becomes transformed into a winter fantasy in which no dream of interior or exterior decorating needs to be edited or toned down in order to be appropriate. One of the most wonderful aspects of this season is the many window displays that are seen in shops and department stores, some advertising their wares, where others are defined by an artistic sensibility that defies extravagance. Some types of window display advertising is intended to highlight consumer goods, while others are intended to draw people in and communicate a different sort of aesthetic through invention and creativity. The window displays that are available for view during the Christmas season are some of the most wonderful examples of interior landscaping that can be seen throughout the year Christmas and Culture To understand the way in which Christmas affects people, it is imperative to look at the event from an anthropological perspective. Most academic fields have opinions on the rituals that constitute the Christmas season. The field of psychology allows for researchers to make observations on behaviour in order to explain crucial elements of the relationships that people share with one another. The seasonal rituals create a language that can be opened up and interpreted for the ways in which we communicate emotions during that time of year. The spending habits du ring this time of year, however, is of most interest to anthropologists as they study the ways in which people paradoxically complain about the commercialism of Christmas while participating in the extravagances of the season. According to Highfield, in the United States Christmas purchases equal approximately one sixth of all retail business, while in the U.K. gift purchases equal approximately eight percent of the economy is devoted to producing items for Christmas gift giving. It has been determined that approximately four percent of the income in the U.K. is spent on Christmas (30). People spend their money during this time of year in order to reap the rewards of the hopes they have for their relationships with others. Whether those hopes are realized or not, those hopes are fueled and sustained through the advertising that suggests that certain responses will occur when spending habits are turned towards their products. This type of advertising promotes the agenda of retail env ironments so that the perpetuation of Christmas spending allows for economic benefit to the economy. The stimulus that is provided by Christmas spending is a good thing, an advantage that should not be held in a paradox of

ServerVault Case Study Example | Topics and Well Written Essays - 250 words

ServerVault - Case Study Example The contribution margin shall be the total revenue minus the overhead costs per unit. The overhead costs are $50,000. The break even point is thus the total overhead costs divided by the contribution margin. This equals $(50,000/1.300=38). The break even point is thus 38 servers. This number is important given that it determines the number of units that should be sold to earn a profit. In this case, it is 39 units or more. The key drivers behind cash generation on consumption for ServerVault are the security features it offers and it reliability. While the security feature is seven-layered and has thus met the U.S. Department of Defense security standards, the reliability feature results from its use of multiple internet access points. The revenue from the facility is $1,300 as a result of the two drivers. The cash consumption from the premises and the facilities installed is due to the fact that ServerVault has not reached its breakeven point. Beyond this point, the business would be profitable. With the total number of the servers (Dec-02) at 14,137,000 from a mere 3 in January of 2000, the business is promising. The cash position keeps improving too. From a difference of less than $20,000 in January 2000, the cash position improved to a difference of more than $1.5m in May of the same year. To this end, ServerVault should concentrate on reducing debt while increasing its returns to hit the breakeven point soon enough. This will win the confidence of investors and thus allow for injection of more capital for its

Coaching & Leading Essay Example for Free

Coaching Leading Essay One of the major findings of studies on creativity and is that creativity and inspiration are very much correlated with â€Å"intrinsic motivation†, for example, if a person is enjoying what he/she is doing, the person is likely to be highly inspired and creative that when such a person is working so as to attain something else. For instance McGuinness (2007) explains that, Anne Sexton a poet told her producer that though she would like to make lots of money through writing poems, she needs to â€Å"forget everything about money’ so as to really write the poems. Coaching has been known to facilitate intrinsic motivation and inspiration through asking questions and giving observational feedback in a manner that assists those being coached (coachees) to focus on the immediate task. Timothy Galway author of The Inner Game of Tennis: Random House said that, â€Å"it did not appear to matter if he praised or criticized his tennis players, since both of these has a negative impact on the game† (p, 32). Even a well intended praise resulted in the player loss concentration, because the player started judging him/her self and hope that their subsequent shot would be great as the past one. Thus, Gallwey (1997) stopped praising the players. Inspiration and creative flow At its highest, intrinsic inspiration and absorption in inspired work can result to creative flow, which is described by McGuinness (2007) as a nearly automatic, natural, yet greatly state of awareness. Creative flow in a person mind results in peak performance of that person. Coaching is attributed to creating this inspiration that results in creative flow. Individuality (enabling others) Creative individuals are notably idiosyncratic, to them; there is no ‘correct way’ or ‘best practice’ in inventive work. Coaching generally helps in advancing the individuality of a person and enabling him reach his/her peak performance and abilities though guidance and encouragement from the leader (McGuinness, 2007). This can also be done through balancing skills and challenges, the leader can match the task o be performed with the abilities of the employees, through coaching or training these employees can be assisted to overcome their weakness. Goal setting Goals are fundamental to coaching; it has asserted that without any goal, then the leader will not be coaching effectively. For any particular task or assignment, the leader should make sure that goals set are well understood by those involved, and the goals are well balanced between inspiring task and measurable achievement. Crane (2007) note that goal setting is able to inspire an employee. No worry in failing: Empowering Coaching operates on the presumption that it’s fine to make errors, as long as these errors serve as experiences and lessons to the person. Through providing correct feedbacks about the performance of a person and demanding that the person learns for his/her errors, the leader ensures makes sure that failures are reduced and become less repeated and less serious. Through creating a responsible but supportive atmosphere, the leader assist his/her people to spend little time being worried about failing and more time endeavouring for excellence. This Crane (2007) explains is the way coaching empowers employees. The affect and influence of diversity on coaching Pohlman and Gardiner (2000) explain that, business leaders and managers are also part of the wider society and have to deal with challenges brought by diversity in their organizations. Those leaders and managers that are well prepared to deal with these challenges and exploit advantages of diversity will probably be successful by being effectual coaches in a diverse organization. Discriminatory practices are common within the society and, sometimes, these practices emerge in the workplace which could cause critical challenges for leaders and managers. Unjust issues of discrimination usually stem from societal prejudices, stereotypes as well as propaganda. Rather, than carrying on societal prejudices and treating employees unjustly based on the stereotypes and propaganda, business leaders and managers can use leadership and coaching the responds to the diversity by focusing on performance of each group and developing them progressively on the basis of their level of willingness to assume new responsibilities. As Pohlman and Gardiner (2000) asserts diversity cam lead to disaster with advancement programs like coaching and mentoring, the advancement programs such as mentoring and coaching are all an element of work performance and lack of understanding of diversity‘s affect on these processes, including who is being coached and who is coaching him/her, can influence the performance of workers. The issue of diversity requires that coaches examine a person beliefs and values together with understanding the skills that are required to suitably deal with these beliefs and values. Parsloe and Wray (2000) assert that, diversity just like communication is a reality in modern organizations. It is real and permanent; therefore its acceptance is a prerequisite of life if a coach is operate effectively in a coaching situation. Diversity makes work place to be more lively, interesting and less boring. At the same time it makes the coaching experience to be more challenging and very unpredictable. As Parsloe and Wray (2000) observes, it is common for coaches to be become upset by individuals’ actions, attitudes and general behaviours in a diverse work teams and group environment in present day workforce. Some of those actions, attitudes and behaviours nay make the coach or the leader or even other workers uncomfortable since they challenge their strongly held beliefs and values, which have been cemented in their subconscious minds over many years. Since a lot of organizations attempt to improve their productivity as well as competencies against their rivals, one tendency is attempting to cultivate a learning culture in their businesses. In order to attain this attempt, the leaders’ role ought to be transformed to developmental coach or leader who focuses much more on supporting workers to learn and make improvement to their competencies and motivation. To be highly successful in managing a diverse workforce, leaders involved in coaching must lead through incorporating coaching models and effective communication. Leaders should not just be conscious of their leading styles and adapt properly to employees willingness but must be conscious of their won individual traits regarding communication with their employees, this will strongly influence and establish their style of coaching. In a diverse setting Parsloe and Wray (2000) explain that the there are four coaching styles that can be adapted by the leader: †¢ Senser: the leader focuses on action and getting directly to the point †¢ Intuitor: the leader coaches the diverse group by sharing ideas, theories and concepts, and through motivating and inspiring focusing on the future. †¢ Feeler: the leader provides support and attention to the group and talks about the past †¢ Thinker: here the leader stays focused on rules, facts information and stipulated processes The coach has to comprehend emotional intelligence and strive to increase the performance of diverse workforce through self-conscious and being ware of his/her coaching style when leading.

Esther and Book of Job Comparison Essay Example for Free

Esther and Book of Job Comparison Essay In one of the assigned readings, I came across story of a Jewish woman named Esther who had suffered from cancer. The uniqueness of her journey touched me incredibly when I learned about her own personal struggle with the disease. It is an amazing but sad story in the sense that Esther copes with her cancer in a shame related way, believing that she is suffering from her sins. Esther is unhappily married and ends up having an affair with her boss, and she perceives cancer as a punishment from God for her sin. As told in the story written by Dr, Jerome Groopman in book the â€Å"The Anatomy of Hope†, Esther waits quite a long time before seeking treatment, and her tumor is very large before she decides to receive medical attention. The author of the books shares his own experience as a resident in the hospital, getting into depth about her family issues, problems, and reactions to her illness. Esher’s character can be compared with similar reading from the bible called â€Å"Book of Job† in that both characters believe to be suffering by the hand of Satan, although this is not true in reality. In this particular reading, Satan comes to accuse wealthy Job before God. He insists that Job only serves God because God protects him, and Satan seeks God’s permission to test Job’s faith and loyalty. In Satan’s test, Job loses his wealth, family and health. Three of his friends come to try to comfort him and keep telling him that his tragedy is a punishment for past sins in his life. At this point, I was able to notice similarities to Esther’s experience in that she saw cancer as punishment for her infidelity. In the old testament of the Bible, Job’s friends tell him that he needs to remain humble and allow God to purify his life. Like Job, Esther is torn between believing in God’s punishment and willing to bet better. At first, she seeks the treatment way too late, but at least she does. She shares her secret with Dr. Groopman within a health venting session, also part of the healing process, and at this part we get to know Esther as a person not just as patient. Furthermore, after the dinner at Esther’s house and the significance of her husband’s prayer, Esther feels so guilty that she never follows up with her appointment and stops the rest of the treatment. Like Job, Esther is torn apart by her belief that she should suffer and often loses the will to place faith in God and hope for better health. The story of Esther ends tragically due to Esther’s unyielding feelings of guilt. She lost the battle with cancer and died after receiving treatment in the most advanced stage of the disease. On the other side, in the Bible, Job questions God and learns the valuable lesson about the sovereignty of God and his need to trust in Lord. After Job places trust in God, his prosperity and health returns. Here is where Esther and Job differ. While Job regains his faith and his prosperity, Esther is continually haunted by shame and consequently loses her health. I think that God’s desire was to purify Esther, and that could be reason behind her disease, but Esther not seeking treatment was her own negative way of coping with the sin. Esther did not believe in God’s will, for her to be purified, and she suffered until her death. In my opinion, Esther was so focused on the idea of punishment that she missed the whole point of purifying her soul. I think of God as the greatest, and it is hard for me to believe that our Lord would want Esther to suffer without the treatment. Job in the bible submitted himself to God and regained his lost goods, but Esther did what she believed was right but she ended up dying at the end. Esther did not want to receive chemotherapy thinking she did not deserve it, and her mind was full of doubt. Both characters achieved purity at the end, but Esther’s was not aware of it. She allowed punishment and suffering to continue. The lesson from the bible is that we need to trust and obey God. Some things cannot be thoroughly explained in human terms, but we still need to always submit to His good will.

Technological Advances: A Global Village

Technological Advances: A Global Village 1 Introduction of assignment The transformation of this world due to technological advances is making it global village. (McLuhan, 1999) in the past three decades, many governments set for free market system and their economy abilities and opportunities have attracted international business to invest in their economies. Even there are more results of globalization related to these economies. There are many efforts made by all governments in the world to the elimination of restrictions on business and trade. Many have provided their people with waste choice in goods, services and other sectors throughout the continents. With new opportunities it is expansion of global business that has benefited all industries and sectors. There is development of new companies and business with many other partners in foreign markets. This lead system to an international trade and business. There are now new businesses and structures which can make more profits from this economic globalization. There are many universally accepted benefits with this globalization now days. Technology is one of major cause that drivers globalization and it had transformed human social and economic life in a way which giving both consumers and businesses new way to discover economic opportunities. There is much with consumer needs and choices that been developed with this global business. There is lot with the value of your choices and needs. Well understanding of economic trends in all parts of the world is result of this change and can easily be transferred to shape up better life in human society with the funds and goods now available to all countries. There are many commercial and economic benefits for all partners in this way from transactions, mergers and acquisitions that now become commonplace issues. All we can thanks to this positive effects that globalization have contributed in human life by increase in employment, cash flows, cultural, trade and other external unfolding in this wa y. There are also environmental and social issues from awareness to actions among masses of this world. However as it is said that there can be two sides that every coin have, same is with globalisation as we see some negative due to this globalization. There can be lot of debate over this issue of advantage and disadvantage of globalization, we find many anti-globalisation protest especially global economic forum is famous for such protest every year. Yet it is very difficult make a conclusion that wither it is a blessing or it is a curse for world. We in this particular study will focus on the concepts of globalization, we will also see into the advantage and disadvantage of globalisation. We will try to find how businesses use to manage this trend of globalization based on their activities for any new market. At some point we will make analysis about the entrance of Toyota in the UK market. 2 Globalization as Phenomenon Globalization is controversial term in itself; while there can be lots of opinions about this. The world have witnessed many advantages to this phenomenon of the globalization. We are also seeing many ill effects or demerits of globalisation especially the trends and behaviours that harming environment on large scale. The concept says that globalisation is phenomenon lead by technological advancements and advancements in transportation that making work a smaller village. Globalisation is result of scientific advancements in communications and transportation means. It had turned the world of business a rapidly changing and growing world. Many poor economies have gained lot and with much better speed with this global trend on business. Today one can travel a start business in other corner of the world with better speed and growth. Globalisation has raised the human living standards and it had helped many poor economies to get advance with speed. There is also believe that it have benef itted only the multinational businesses not the people. It is also said that it had made high up damage to local cultures and businesses. All the small firms operating locally have to suffer from this trend that is reason many local governments sometimes discourage global companies in their areas to start a new business because they want to save local business and markets. (Robock, 1989) this has lead to many questions about the future of this globalization as there are many such ambiguities that are related with it. We will be looking at some aspects in this study like is globalisation good or it is bad? What are cultural implications of this? There are many questions that cannot be covered here like what impacts globalisation making over social and religious traditions? There is needed to make this phenomenon a balanced one to get more benefits for businesses and societies. We can find many answers related to business expansion and global economy. 2.1 Business Globalization Globalization of businesses like all other a thing in globalisation is happening and it is taking world economy, world politics and global culture. (Hill, 2007)This included the expansion of markets and business throughout the world. In business main objective lies with profits and profits come with margins between price and cost of production or through large scale selling. There are more benefits for both consumers and business men with global expansion of business. The companies going into global markets need to make changes according to local markets to get attraction from customers to buy their products or services. These new expansions of global businesses and communication have created a new global business culture over the world. 2.2 Advantages and disadvantages of Globalization of business There is lot of debate over the advantages and disadvantages of the global markets and businesses. There much in written and talked form over every platform about this. There is need to look into these things to do a good justice to this study. In coming study we will look at the advantages and disadvantages of the Take a look at the following advantages and disadvantages of global marketing. There is different situation with different companies around globe. There are certain advantages and disadvantage at same time for globalisation of business. Advantages à ¢Ã¢â€š ¬Ã‚ ¢ Reduction in marketing costs: If we look at amounts of marketing for global business it looks huge but if you compare it with unit costs or costs relating profits then its reduced from the costs that were being made for local businesses. à ¢Ã¢â€š ¬Ã‚ ¢ Global levels: in its scope a global business have wide global level of markets that can generate more earnings through sustainability of demands over the periods and in new markets as business expands. à ¢Ã¢â€š ¬Ã‚ ¢ Brand images: Now a day growing global marketing makes easy for businesses to make a static image that can be spread over the continents through different markets. à ¢Ã¢â€š ¬Ã‚ ¢ Smart Ideas: global businesses are able to make use of the marketing their ideas to have a strategy about products that can be very smart in its way to generate more profits through these innovative ideas on a major global scale. à ¢Ã¢â€š ¬Ã‚ ¢ uniformity: Throughout the world companies have kind of uniform approach related to their business that helps in monitoring and developing business with less efforts. Disadvantages à ¢Ã¢â€š ¬Ã‚ ¢ Need of consumer: An American consumer have different choice from consumer in South Africa that costs companies lots of money to make such adjustments. à ¢Ã¢â€š ¬Ã‚ ¢ Consumer Reactions: Consumers in different part of world have very different reaction to things that sometimes costs lots of losses to businesses. à ¢Ã¢â€š ¬Ã‚ ¢ Local product: It is allowable for some product to get adjust for example for a Japanese with kind of traditional, and for an American some modern aspect related to product. This need different strategy and technology to deal. à ¢Ã¢â€š ¬Ã‚ ¢ Local Laws: policies of the company must be in accordance to local laws of their countries. May be laws abroad may be conflicting in these policies. à ¢Ã¢â€š ¬Ã‚ ¢ Disputes: infrastructure sometimes brings disputes in the industry and with authorities that always costs to businesses. à ¢Ã¢â€š ¬Ã‚ ¢ Wealth concentration: This is believed that globalisation is concentrated with wealth seeking activities and its major focus is not development and welfare but profit seeking. à ¢Ã¢â€š ¬Ã‚ ¢ the income gaps: It has produced lot of gapes between the developed and underdeveloped countries. 2.3 Culture of Global Business Should always be economic growth at the site of a unique cluster with a fleet of pool of skilled and educated workers. It had access to the depth of the market, or rather access to the last mile is always as conflict or challenge corporate world with some companies having advantages due to huge investments. Costly structure is the global challenges for economy and growth, but need for rethinks about value chain and activities that made distance and time irrelevant. Some companies has adopted with these challenges by the strategy used for this is flooding of money and men power that have set for talents and culture of discipline it also have enhanced the capacities and skills of the labour. This global innovation is quite mixed deeply to the organizational of culture as it is based on multi-talented that make advantage for companies. Thus there is chance of integration of cultures and local knowledge with a wide range of global things to make things work fast and better way. The world today, and technology flourish because of the Indian information technology experts. Are imported motorcycles Bajaj and Kawasaki today face to face with Harley Davidson, BMW and Honda. It is estimated that today there are about 3000 Challenger at the global level. These companies will be a force to be reckoned with because they simplifiers, adopters, Interpreters and drive to succeed and survive in the coming days. They should be able to compete on the basis of the competitors time to a new model for the success of companies in this new trading environment where it competes with everyone and everyone from everywhere. (Gitman, 2008) This could become a competition based on time if and only if they can provide greater value to many times on the model more flexible than the competitor, whether it is another competitor or global giant. These companies need to understand the value of the proposal that the client is looking for and make then make their products according to this value by looking at the client. This pricing on the basis of the value in the case of these companies are looking for and why you should do.These rivals at the same time and some of the strategies in place to surprise their rivals. 2.4 Global projects and Project management Global project management putts set of challenges regardless the business physical locations or regions and time. There are many cultural issues that can go beyond simple things of language and time differences. There are many issues related to management, efficiency and reporting. All big organizations have global business these days and the managers at headquarters have to manage with difficulties and differences of all these countries and their cultures. There must be best options on table for effective management either it is based on communication or geographical diversity. There can be projects that face with cultural barriers at the start but with adopting a successful multi-cultural level team that suits the local systems these can be covered. It is significant to be familiar with minor diversity that can appear later as enough thing to influence the outcome of any project. For example if distance of countries is not more than they can have a cultural similarity like UK and Spain. But if it can be like United UK and Australia that have distance but similar cultures. But if they have different culture and distance that can bring problem for establishment of effective teams and results for a company. These assumptions can be incorrect, experience has shown that almost always from any one of the following differences will affect the project, and these differences should not be administered properly. 1: identify the difference 2: Language difference 3: Time Difference 4: cultural difference 2.5 Key elements for starting New Business in Markets A) Research Details on the environment through any legal agent, also get the knowledge of history. In your case the other party and to check on things get as much information as possible. Whatever you think your customers will see their case as. There are all mediation and efficiently for our clients to negotiate certain techniques. Theres some kind of guidance before going into business should be. ) Proper communication b While e-mail, telephone or other appropriate tools to communicate in day to day, also weekly conference calls and commitments should be scheduled for more progress and enable open discussion about the issues. C) Business Expectations At the beginning of the project report should determine the frequency form. It is likely that the local level and the global need for various reports D) address cultural issues This is a two-way (or more) process to make sure that all teams hope to understand each others point of view. If necessary, the different cultures to conduct the investigation cost, quality and status of different areas such as time should be estimated. Can be also found at different locations culture references, but the difference in skills. E) lack of recognition While not listening to the local teams at the same time the global project team members such as lack of respect for personal obligations, the director works much excitement in the region is likely to result in the negative. Instead, the day when all members are available and the decision as a conference call or regularly for updates on the report, a general order for the report within the time limit should be. 2.6 Development of international team i) motivating teams The global project manager to understand what motivates a variety of teams is important. Quickly and make your team members with the key to honest discussions can connect. Level, this responsibility also lies at the local level should determine. Progress ii) Monitoring There project when it is not possible to assess the progress a few steps. For example, when there is work and the completion of the first group depend on each other based on the progress made in two types of packages. Building trust and loyalty between international teams and local communities, and ensure reporting completely honest and gives an accurate picture of progress. iii) Regular response Project manager is always work to clearly define expectations for all the world should provide a detailed proposal. Failure to do so that misunderstandings and poor work due to the fact that not all team members located in the same location will be exacerbated to can lead to. 2.7 Trade Control Tasks of a) Distribution Where possible, teams of expertise most appropriate for use with each task. Communication with all teams to explain the reasoning task assigned to the cost benefits where appropriate, analysis using the ill feeling between the teams to prevent. B) dependency management Should be based on the skills available in one place and work groups should be allowed to manage. When possible, dependencies, deadlines, do not plan very carefully and detailed the relevant features are required to document the objectives and results C) global stakeholders management Stakeholders to identify and relatively clear, but large and complex projects to the expectations of stakeholders in the analysis is not the world. And different agendas and competition between different groups, and these relationships should be managed as a whole in the world to reduce the impact on the success of the project. 2.8 Task Distribution Exchange must agree on the overall level of requirements for any request, after we consult with all stakeholders. Allstakeholders schedule and local level by the overall level before agreeing to the impact on budget and authorized MustAssess any changes. ) I determine the purpose Despite the risks inherent in each project must be, andmitigation should be in place, we work for the overall project requirements and deadlines allcategories understand and, more importantly, it would be all AcceptableTo all teams should fare. And then become a reality reduce the likelihood of any threat to. ii) Mediation Two parties with one another are among atwar a way to dispose of. In mediation, you always use alternative dispute resolution Someform arbitration to settle disputes amicablyBetween andpicks parties to use the technology. Dialogue between the parties solve the correction based on gold approprià ©e. All parties generally must be see shed, an honest broker, and we should carefully consult history and often suspect. Tosettle mediate conflicts and disputes resolution broker, commercial technology, and legal as well familyissues, and use of personal diplomacy, and in the workplace Toyota 3 cases Toyota also in the United Kingdom is 21, which is still in the development world and new transport and production solutions while respecting and protecting the global environment to address the challenges of achievement leads. Toyota Motor Corporation Established in 1919, and the clothes are interested in the theory advanced loom on the horizon for building. Today, Toyota is a truly global business, worldwide manufacturing of vehicles in factories on six continents and over a quarter of a million people directly to work. 160 to market their products are sold worldwide. Europe as part of a wider strategy, the companys production center is built here: Introduction Toyota, near Derby, Burnaston, in the heart of global manufacturing plant, a company that has grown in 70 years, the largest supplier has become the worlds third largest producer of car engines in Deeside. (Toyota, 2010) The second is in North Wales. Powered by Toyota Manufacturing UK (TMUK), they present surplus of  £ 1.7 billion investment represents. Burnaston new Toyota Avensis, which began in the spring of 2003, only center for the production. It also creates three versions and five-door Toyota Corolla. In 2002, Europes most important car manufacturer Toyota and efficiency in an independent survey in 2003 another came in Burnaston has announced that production on the clock to take an unprecedented step to launch a third daily shift start there will. Deeside already working on a three shift pattern, both gasoline and diesel engines for the new Avensis and Corolla built. (Toyota, 2010) also makes engine parts to Toyota factories around the world, Turkish and French exports to other countries including South America. United Kingdom, and Europes second largest for new cars Toyota and Lexus models 2002.Sales, which together represent about five percent of total sales equal to 133 500 to more than 2 .5 million registered with the market. Toyota Lexus and Toyota with 17 and six models of any plant in the United Kingdom offers a broad range of products. Britains fourth-largest source of the car, and Toyota in manufacturing key and influential role in the country. Toyota personal transport solution for the construction of continuous production and have been working can be effective and that are looking to the future. Company heavier compounds and technologies that address the issue of environmental concerns and diminishing resources have been invested in development. His work in the UK, with the creation of high quality environmental impact of vehicles to meet all the demands of motorists today by reducing the Toyota clearly its commitment to future success. Toyota is still the British government and the automotive industry as a whole on a wide range of issues affecting their agencies working together, especially in the campaign for cleaner and more efficient solutions, and Transp ortation seems to manufacturing. United Kingdoms main market, both in terms of sales and building a new Toyota Prius Of world production of Toyota cars. (Toyota, 2010) Manufacturing production outside of Japan since 1959 when it opened its first factory in Brazil and abroad. Today 27 countries including Japan, the 58 factories, and construction of over one million six-year cars sold in different markets and 160 national. Toyota car production in the United Kingdom is an important element of global manufacturing strategy. The companys theory that the cars where they are sold to local market needs of the building after completion. 1989 UK Manufacturing (TMUK) Toyota Motor Corporation Toyota Motor Co., Ltd. based on the state line while in the state, paving the way for the first European car manufacturing process. 1992 Production begins in the mail with Kareena Burnaston factory and engine production begins in Deeside. E Kareena ends 1997 with production to replace the Avensis; TMUK export wins Queens Award. Avensis Corolla launched in 1998 with Burnaston production. Toyota Avensis first exports to Japan. Deeside production line Toyota RAV4 This has helped increase exports Toyota five levels in all parts of Europe as a producer in the United States to stabilize the situation continued strong sales performance: Toyota is now the largest exporter of cars manufactured in the United States fourth largest full- . TMUK are estimated production of 20 percent of the domestic market in exports, and the balance of Europe and the world (about 75 percent and five respectively) of the rest. Toyota has announced that the model is sent to the Avensis 36000 per year. More than six million vehicles in 2002 to build the global situation, Toyota Motor Corp., maker of cars occupied by the worlds third largest. Toyota 58 factories in 27 countries around the world is going on. All day, every day the equivalent of industrialization and the construction of a car every six seconds level. Marketing of Toyota vehicles in more than 160 countries around the world. à ¢Ã¢â€š ¬Ã‚ ¢ Toyota 50000000000 pounds more than the market, General Motors, Ford and DaimlerChrysler combined value of more value. Toyota Production System Toyota Motor Corporation and the early days of the companys founder Sakichi TOYODA motivation has its roots. Invented the horizon, which automatically stopped the emerging theme that is cut during the process if any. Toyota PLC (GB) United Kingdom Good marketing and sales strategies at the national level. All these departments have been working effectively with sales, marketing after sales service and customer relations. The Surrey Heath since 2001 in the new headquarters was near the Epsom. The headquarters has about 400 employees. There Grimsby Derby and the vehicles and logistics center is working efficiently. Toyota increased its sales in the United Kingdom continuously for 11 years had achieved a performance record. The fastest growing UK brand position. 4 Porters five forces We can make a study based on Porters five forces to know the competition levels in any industry which is working in this global environment. The industry should look at its large part to determine the business strategy and particularly growth strategy. (Hill, 2007) also on the basis that the economy is essential to this industry, and the possibility of profit is determined by the industry is very competitive interactions. That can be drawn where these interactions are intense, tend away from the profits of competing activities. Where light and competitors seem manageable, and the possibility of profit tends to be high. After making understanding of all main elements of competition in this industry is easy to look into things. Porter made identification of five fundamental forces which collectively illustrate the state of any business current or future destiny. a) Competition in the industry 1. What is the intensity of competition among competitors 2. Is there any threat of some new entrants to this market 3. What is level of bargaining power that suppliers have 4. What kind and level of bargaining customers have in the industry 5. What kind of alternative products are available as a threat These forces help to determine presence or absence of opportunities that can be there for industry or company to gain high returns. As the porter five forces are weaker for some company it have chance to get more opportunity in the business to make higher growth and profits. More generally understanding is about forces that how these affect competition within the industry and these then determine position of company and its strategy options in future. b) Consequences for Toyota i) The threat of entrants (Very high) ii) Power suppliers (Very Low) iii) Threat of substitutes (Very high) iv) Power of buyers (low) v) Threat Rivalry (high) 5 Conclusion Companies in the current environment need strategies at the global level since their starts of the work and for any new launch in business. There is needed to look for the growth at the highest international level and there should be measures that are necessary to control major declines in business. There is need to avoid stagnation in one area of world that makes unequal growth of development. There is need for SMART as specific, measureable, achievable, right and time bound strategies to survive in this global business environment. We can see how Toyota and Skoda making things moving in their favour by diversity of strategies. There is always need for a good global image. All businesses need to find ways to keep pace with this growing global economy and competition in the markets.

Analysis of Hospital Quality Management Team

Analysis of Hospital Quality Management Team Contents INTRODUCTION BACKGROUND History Vision Mission Core values MAIN SERVICES AVAILABLE, HOW SERVICES ARE DELIVERED AND TARGET POPULATION ISSUES IDENTIFIED ANALYSIS OF QUALITY MANAGEMENT PROGRAM REFERENCES INTRODUCTION This is an in-depth analysis of quality management program conducted in Villingili hospital. Improving the quality of care management practice is a concern in many countries regardless of differences in definition, organization, and funding of services. Quality assurance involves a commitment to guaranteeing the quality of services, not as an additional element attached to the service, but as part of an ongoing system in which performance is monitored and achievement measured against set standards or benchmarks (Camp, 1989; Crosby, 1979; Oakland, 1993 cited in Clarkson Challis, 2003). First a brief introduction of the hospital will be presented followed by the discussion of various quality related issues that can be identified within the hospital. Followed by this, one quality management effort, which is the indoor environment of the hospital, will be analyzed. Subsequently, recommendations for any other strategies that could be implemented to improve the present situation and to overcome quality issues that are not part of any quality program at present will be elaborated. BACKGROUND History Villingili hospital was first opened as a health center in 21st April 1994. The health center was initially opened as a branch of Male’ Health center. The health center was set up in a four room building provided by Male’ municipality. On 15th April 2002, the government changed the health center to a three story building. On 14th August 2014, the health center was changed to a third grade hospital; same level as an atoll hospital. Vision: strive to provide healthcare services to people of Villingili and to make the community aware regarding health life styles and to provide ideal, quality and acceptable health care service to residents of Villingili. Mission: To provide an uninterrupted health care to residents of Villingili. To diagnose and treat different types of diseases and work towards the prevention of these diseases. To further develop the laboratory services. Core values: no core values are identified by the organization. Even though the Villingili Hospital have a rich history, it was depressing to find that the staff of the hospital was unaware of the vision, mission and core values of the organization. MAIN SERVICES AVAILABLE, HOW SERVICES ARE DELIVERED AND TARGET POPULATION The main services available in this hospital are, consultation services from general practitioners, consultation from specialized practitioners, laboratory services, community health care, vaccination and nursing care services. The target population is the residents of Villingili, whose population is around 17,000 people according to Villingili hospital. Specialized doctors’ consultations are on specific days. Gynecological consultations are done on Sundays and Wednesdays from 08:00am to 04:00pm. Orthopedics consultations are done on Sundays and Mondays at 08:00am to 04:00pm by Orthopeadician Dr. Hussain Faisal. Pediatrician consultations are done on Mondays and Tuesdays at 08:00am to 04:00 pm. All consultants are arranged sent from IGMH. Vaccination and child growth monitoring is done on all working days from 09:00 am to 01:00 pm. All available services are provided within the hospital. Even though they have a community health service unit, home visiting are not done. Services are provided 24 hours throughout the day, and shift duties are done by all consultants, nurses, receptionists, interpreters, ambulance drivers and attendants. Even though specialized consultations are done, it is evident that both the consultants and clients face enormous difficulty to diagnose and treat diseases and conditions as essential and compulsory diagnostic services such as ultra sound scanning and x-ray services are not available in the hospital. ISSUES IDENTIFIED After conducting surveys in the Villingili hospital and interpreting the results, I have identified some issues related to quality of service provided by the facility. Here are the results of the survey conducted in the facility. In the survey questionnaire, a question was used targeting to identify the staff response to patients need and their courteousness. The evaluation will be accurate if we analyze the situation in both directions. According to the hospital officials, clients can consult general practitioners through a walk in OPD. But the consultation for specialized practitioners such as the orthopeadician and gyneacologist, clients have to make appointment prior to consultation. Appointments are issued until the planned slots are filled. From the interviews conducted, we understood that the time delay dissatisfaction usually arose during busy situations where the doctor who is consulting in the OPD have to attend in patients or emergency cases. Some clients also noted that the doctors sometimes goes for break while more than 10 clients are waiting outside. A service provider have to consider suitable timings in order to provide a quality service to the clients. In order to evaluate this, we questioned whether they are satisfied with service timing of the facility, both general and specialized consultations. Among 10 clients, 2 clients (20%) informed that they are not satisfied with the time for specialized consultation while 3 clients (30%) told that they are moderately satisfied and 5 patients (50%) are fully satisfied with the service timing. Figure 1 Even though they get the appointment for specialized consultation and can consult the general practitioner through a walk in OPD, the time taken to consult the doctors vary. To verify the time taken to consult the doctor, we gave time ranges from 0-10 minutes, 20-30 minutes and more than 30 minutes. According to the clients who gave the interviews 5 clients (50%) informed that they had to wait between 0-10 minutes, 3 clients (30%) told that they waited between 20-30 minutes for the consultation and 2 clients (20%) stated that they waited for more than 30 minutes to consult the doctor. These findings are presented below in figure 2. Figure 2 Identification of the client satisfaction and dissatisfaction is crucial in order to upgrade and provide an ideal and acceptable quality service to the clients. In order to identify the overall satisfaction of the clients regarding the time they spent during consultation, we included questions targeting this issue. According to 7 clients, (70%) they are fully satisfied with the time they spent and 3 clients (30%) are not satisfied. These results are shown below in figure 3. According to the information we collected, we found that most clients highlighted that the biggest issue they face is the way the staff communicate with them. Some clients have informed that they were left feeling like a fool during consultations and some staff spoke rudely to them. Few noted they feel that the staff are overburdened with responsibilities and they seem very unenthusiastic. In addition to this, some clients informed that the staff seems to be involved in their personal things while attending the clients who goes to the counter for different things. Communication effectively with patient and family is a cornerstone of providing quality health care (Patient care improvement guide, 2008). The manner in which health care provider communicate information to a patient can be equally important as information being conveyed (Patient care improvement guide, 2008). Patient surveys have demonstrated when communication is lacking, it is palpably felt and can lead to patients feeling increased anxiety, vulnerability and powerlessness (Patient care improvement guide, 2008). Among 10 clients, 5 clients (50%) informed that the staff was poor in areas being respectful, friendly helpful and courteous. Another 3 clients (30%) noted that the staff was fair in this area while the remaining 2 clients (20%) informed that the staff was good in this area. It is depressing to note that not even one client told that the staff was great in this area. The information is shown in a pie chart below in figure 1. Figure 1 The next question was whether the staff explained the procedure and how they answer questions asked by clients. Among 10 clients, 6 clients (60%) informed that the staff was poor in explaining the procedure and answer questions asked by them. Another 3 clients (30%) noted that the staff was fair in this area. The remaining 1 clients (10%) informed that the staff was good in this area. The information is illustrated in figure 2. Figure 2. According to the information collected through survey, it is clear that most clients highlighted that the biggest issue they face is the way the staff communicate with them. Some clients have informed that they were left feeling like a fool during consultations and some staff spoke rudely to them. Few noted they feel that the staff are overburdened with responsibilities and they seem very unenthusiastic. In addition to this, some clients informed that the staff seems to be involved in their personal things while attending the clients who goes to the counter for different things. The issues identified through survey with clients of this facility that, may hinder the quality of service provided are, ineffective communication and unenthusiastic staff. Additionally, by conducting interview with the senior administrative officer of Villingili health center, it is evident that some staff lack knowledge in some areas such as care during emergency situations. Lack of knowledge is due to lack of practice as the institute have less inpatients who needs constant care. Communication effectively with patient and family is a cornerstone of providing quality health care (Patient care improvement guide, 2008). The manner in which health care provider communicate information to a patient can be equally important as information being conveyed (Patient care improvement guide, 2008). Patient surveys have demonstrated when communication is lacking, it is palpably felt and can lead to patients feeling increased anxiety, vulnerability and powerlessness (Patient care improvement guide, 2008). ANALYSIS OF QUALITY MANAGEMENT EFFORT As the Villingili Hospital is being rebuild to accommodate required facilities to function as a hospital, patients’ and staff are facing various difficulties. The major difficulty that most people face is that consultant rooms are situated in the first floor of the building. A person does not have to be elderly to have a difficulty to climb stairs, and because of this arrangement some patients have faced difficulty. It is evident that the changes to the present building is being brought on to provide a quality service to the customers. However, the effect of physical environment on healing process is evident through research. The arrangement of wards, labor rooms, consultant rooms and waiting areas and its physical environment such as ventilation, lighting, and temperature is important aspects to consider to provide a quality hospital environment. From my personal experience, it is clear that the physical environment of hospital is set to ease the staff only and patient prefer ence or perspective is rarely considered. As I have experienced, I have faced immense difficulty when I went for a consultation with high grade fever and wheezing. The consultant’s room air conditioner was set a temperature where it was difficult for me to utter a single word without clattering my teeth. Additionally, I have found that the present physical environment of the Villingili hospital can be considered dangerous for patient especially the elderly and young. The present construction activities and especially the smooth tiles put on the floor of the hospital is a hazard for falls. For this analysis, I will be looking into the extraneous factors of the hospital in order to deliver a quality service. Extraneous factor of hospital The physical work environment often influences (positively or negatively) the mindset of the service providers and their efficiency and capability to innovate in delivering expanded services (). Sometimes the aspects of the consultation rooms can have a negative impact. Such as the consultation room being too cold, hot, dark, noisy or unwelcoming (Moulton, 2007). Distractions in the room include visual distractions (eye catching photographs or art), auditory distractions (sounds from the waiting room or next consultation room) and olfactory distractions (bad odors or body odor of previous patients) (Moulton, 2007). Suboptimal seating arrangement also can be a negative extraneous factor of hospital, such as seats being hard and uncomfortable (Moulton, 2007). In recent years, the effects of the physical environment on the healing process and well-being have proved to be increasingly relevant for patients and their families as well as for healthcare staff (Huisman, Morales, Hool Korts, 2012) Studies have shown that excessive noise, glare and poor air quality can create stress as is evidenced by increased heart and blood pressure and reduced oxygen level in the blood in both adults and babies who are exposed to these environment (Blomkvist, Ericksen, Theorell, Ulrich, Rasmanis, 2005; Hagerman, Rasmanis, Blomkvist, Ulrich, Eriksen, Theorell, 2005;Zahr Traversay 1995 cited in Zborowsky Kreitzer, 2008). A healing environment with appropriate physical aspects contribute to patients’ outcome such as shorter length of stay, reduced stress, increased patients satisfaction and others (Ulrich et al., 2004 cited in Hussain Babalghith, 2014). REFERENCES Clarkson, P., Challis, D. (2003). Quality Assurance Practices in Care Management: A Perspective from the United Kingdom. Care Management Journals, 4, (3), 142-151. Huisman, E. R. C. M., Morales, E., Hool, J. V. Korts, H. S. M. (2012). Healing environment: A review of the impact of physical environmental factors on users. Building and Environment (58), 70–80. Moultan, L. (2007). The Naked Consultation: A Practical Guide to Primary Care Consultation Skill (1st ed). United Kingdom, UK: Radcliffe Publishing. WHO. (2004). Quality Improvement in Primary Health Care; A Practical Guide. WHO regional publication, Eastern Mediterranean Series 26. Zborowsky, T., Kreitzer, M. J. (2008). Creating Optimal Healing Environment in Health Care Setting. Clinical and Health Affairs, 91(3), 35-38. Saushan Rasheed Quality Assurance in Health Care Assignment 2

Impact Of Zakat In Society Theology Religion Essay

Impact Of Zakat In Society Theology Religion Essay The socket has been introduced in pre-colonial Malaysia .Before the British colonial Malaysia, the village in the country, as in other parts of the world developed through land settlement or colonization. One of the popular methods was the collective Pondok system, which was particularly common in the Muda Region of Kedah. By this system, a group of settlers would gather around and a person who is well -versed in Islamic Knowledge or who had already established himself as a religious teacher .After the they found a suitable place , they will build their Pondok (huts) around a Madras; a religious center for worship as well as teaching. In the case where the group has been established, they would invite a religious teacher from elsewhere to set up a Madras among them .This religious teacher was also the Imam of the community, in the sense that he led five prayers daily in the mosque or madsarah. The group of peasant will be going out to open land around the clusters of their Pondok, leaving their children to the teacher for religious education at day time. For those wives who are unable to work with their spouse in the land also will obtained religious instruction from the teacher. The peasants will receive religious at least one or twice a week and longer on Friday because it was a day of rest. They will spend more time in the mosque than the field. As an appreciation for the service provided by the teacher, the peasants usually will collectively clear a piece of land and cultivate if for the teacher. Slowly, as the land become more productive and the production level of each peasant family exceeds the nisab of 480 Gantang  [1]  for each harvesting; the peasant family would pay skate at their 10 % of the gross yield of the paddy. According to Afifudin, those early days all the skate form a specific group in the Pondok system would go to the teacher. If a group of 50 sacked paying peasants would contribute a minimum of 2400 Gantang each year .As time goes by, the wealth of the teacher can be accumulated. The teacher can use the socket for the expansion of Madras. During the colonial period in Malaysia especially Kelantan, Zakat was administered by imam, who is the local religious leader managed the Zakat collection and supervised by the division of inherited party. In order to finance the intensified activities, the state required imams to surrender part of the Zakat they collected at the village level. However, this method is only partially successful due to the British regime replaced Grahmans, the Islamic administration .The Grahman took charge of civil administration, he divested the imams of their civil function .which were transfer to the headman (ketua kampong). According to secret institution in Malaysia .During British Colonial Period, The segregation between religions, custom and temporal matters took place during this period. All Islamic and Malay customs related matters were administered by a special body known as Majlis Agama Islam Negeri (MAIN). Other than that, the rest came under the purview of the British civil and criminal law system (Matters associated with socket were administered by MAIN. Accordingly, in Zakat Satu Tinjauan, Kelantan was the first state to establish the body which later became a model to other Malay States. Under this model, the Imam (spiritual leader) has been empowered to govern skate related matters and a portion of Zakat collection would be delivered to the state government as a financial resource for Islamic affairs. That was how the administration of soaked developed until today which remain under the supervision of State Islamic Councils. After the independence of Malaysia, New Economic Policy has been introduced. The Zakat fund is use for investment purpose .In the early 1970s ,the minister of National and Rural Development, Encik Ghaffae Baba, who was also the chairman of Mara ,urged all the state Religious Councils to invested substantial portion of their money (mostly derived from the collection of Zakat) in Amanah Saham Mara .The objective is to eliminate the income gap between the ethnic group in Malaysia, especially the Muslim and Chinese. DEFINATION AND CONCEPT In the Islamic world, Muslims are required to give compulsory charity with determined purpose and established rules. This compulsory charity is known as Zakat. Zakat is one of the five fundamental pillars of Islam; it stands as the third pillar of Islam, just after Salat, the daily ritual prayer. Allah has mentioned Zakat about twenty times in the Holy Quran combined with Salat.   Basically, Zakat, or Zakat al-Mal, means obligatory alms or alms upon wealth. Alms is a gift of money, clothes or food, it is equivalent to charity and is a type of donation. Moreover, Zakat is literally means to be clear, to grow, to increase. It comes from the root letter za, kaf, ya which consists of few meanings, which are to be clean, to pay the obligatory charity, to be pure innocent, to be better in purity and to praise oneself, to justify. All of these have been included in the Quran and explain all of these things. In addition, Zakat can be defined as the transferring ownership of an amount of material wealth specified by the Lawgiver to a poor Muslim who is neither Hashimi nor their client, without material benefit returning to the giver in any way, for the sake of Allah Most High. [Tumurtashi, Tanwir al-Absar] Hashimi in here means those from the family of the Prophet (Allah bless him and give him peace). Besides, the term Zakat and sadaqah are often used interchangeably in the Quran and Sunnah, where sadaqah also means charity. However, Zakat refers to obligatory charity and sadaqah refers to voluntary charity. Zakat can be categorized into two types; there are Zakat-ul-Maal (Zakat on the wealth) and Zakat-ul-Fitr (Zakat on the individual). It is recommended to every Muslim to pay sadaqah after paid the two types of Zakat. Other than that, Allah has prescribed Zakat as a duty to Allah, upon every wealthy individual. Every Muslim also has nisab, which is a designated minimal amount of wealth for the full cycle of a lunar year must, as a matter of worship, satisfy the duty of Zakat-Charity. This charity is to cleanse or purify the individuals wealth. Unlike charity, Zakat can only give to Muslim; it is not valid to give Zakat to a non-Muslim. THE OBJECTIVE OF ZAKAT The primary objective of Zakat is to elevate the spirit of human being above the material acquisition. Consequently, Islam does not view the Zakat payer as a mere of sore of funds, but as a person who always needs purification and cleansing, both spiritually and materially .The prophet (p) summaries this purpose in the ayat ,sadaqa from heir wealth by which you might purify and cleanse them. Zakat, when paid out of submission to the command of Allah, is a mean of purifying the soul of a Muslim from greed and miserliness. The vices of selfishness and greed must be controlled in order for human beings to elevate their spirits, to succeed in their social relations in his life, and gain admittance to paradise .Allah Almighty says, Truly man is niggardly! (17:100) and But people are prone to selfish greed.)Zakat is a purifier that trains Muslims to give and spend selflessly .It liberates their souls from the love of wealth and slavery to materials gains and acquisitions. On top of that, Zakat is a mean of training Muslims on virtues of generosity as much as it is a means of purification from greed .Being paid in repetitive pattern year after year, regular Zakat as well as Zakat al-fitr train Muslims to give and spend for charitable purpose. The Quran describes believers as the righteous who have the virtue of spending for good reasons. The very second sura of the Quran begins, Alif .Lam .Mim.That is the Book with no doubt .In it is guidance for the god-fearing: those who believe in Unseen and establish the prayer and give of what we have provided for them.This exhortation is reiterated many times in the Quran ,such as Those who give away their wealth by night and by day ,secretly and openly ,: Those who give in times of both ease and hardship and The steadfast ,the truthful ,the obedient ,the givers ,and those who seek forgiveness before dawn. Also, once a person is trained to spend on public interests and to give to his brethren out of his own wealth, he is most likely to be freed from any urge to transgress on other peoples wealth and possessions. Besides that, Zakat trains people to acquire divine characteristic. If man purified of miserliness and greed and becomes accustomed to the habit of giving and spending, his soul is elevated above low human trait of covetousness, Truly man is niggardly! (17:100) and aspire to the height of Divine perfection, since one of the characteristic of Allah is absolute and unlimited mercy, powers, theoretical and practical .Allah obliges Zakat in order to perfect human souls in graciousness to other people ,as the prophet says, Train yourselves to attributes of Allah. This encouragement to spend through Zakat and voluntary charity resulted with time, you in the emergence of charitable trusts all over Muslim world, trusts devoted not only to helping the poor and needy but to all causes for human beings as well as animals. In addition, Zakat is to shows expression of thankfulness to Allah .Gratitude and thankfulness are among the best characteristics of human beings. Zakat is an expression of thankfulness to Allah for the bounties .He gives on us .Allah, says al-Ghazali, and has gives on human spiritual and materials bounties. Prayers and other acts of physical worship express gratitude for the blessing of creation, while Zakat and other acts of donator worship express gratitude for the material blessings of Allah .The concept that Zakat is thanks Allah for His bounties is s widespread and deeply rooted in the consciousness of Muslims that it is common to say that one must give Zakat in thanks for the grace of sight, hearing, health, knowledge, etc. Also, Zakat stimulates personality growth in those who pay it .Through helping others overcome their financial difficulties, Zakat payers are enriched by feelings of self-worth and fulfillment. Zakat also helps offer the payers self to others and grow through helping them and gives the payer a noble sense of victory over his base desires and material drives-over his owns shaytan. Last but not least, Zakat is to purify wealth. This is because Zakat is a right to the poor, not paying it means keeping something that belongs to others intermingled worth ones wealth and this brings Allahs wrath on the whole wealth. The Prophet (p) says, If you pay Zakat on your wealth, you have taken away its evil. IMPACT OF ZAKAT IN SOCIETY Undeniable, the concept of Zakat is the cornerstone in Islamic finance and economic system. Zakat is a compulsory charity that every Muslim must pay and to help the poor people. This has causes Zakat play an important role in the society, especially the Muslims society. Below are several impacts brought by Zakat system? The Zakat system helps to make sure the societys wealth circulation is in a fair and clean condition. Due to the wealth people must pay Zakat to the poor, the wealth will not become too rich whereas the poor will not become poorer. Definitely, there are some restrictions in order to choose the Zakat recipients, the restrictions can make sure those who receive the Zakat is with a reasonable and acceptable reason. In this case, Zakat has becomes the duty of wealth people, just like a compulsory charity must done by wealth people. But, the percentage of Zakat paid is depends on the wealth of an individual, it is not a system that forces people to pay a certain amount, but is require Muslims to pay their minimum amount according to their wealth which is affordable. Zakat also allows an individual to purify and grow his wealth. Man is naturally greedy and always want more and more to fulfil their unlimited utility. Zakat, with the obligatory charity, require Muslims to do charity. This process might make the people to think of others and come out from the race of personal interests. It has help to cleanse the selfishness of an individual where someone may extend his financial in order to help more poor people and those in need. The Holy Quran also has mentioned that And whose is saved from his own avarice such are they who are successful. With more and more individual with this personality can maintain the peacefulness of the society and becomes the role model for the next generation. Besides, Zakat system has helped to reduce the poverty problem in many countries. The main reason for poverty in any society is the concentration of wealth is limited to a very few people in a particular country. The introduction of Zakat system is actually for the purpose of this root cause of poverty. If everyone will need to pay Zakat, no poor or the unfortunate would have to involve in the begging. As the wealth is distributes to the poor, the poor will have the ability to continue struggling for their lives. In addition, Islam has prohibited the poor or needy from stretching hand before others. In the economic perspective, Zakat has also help to increase the production volume. When the Zakat has distributed to the poor and people in need, they would spend the money to satisfy their personal needs or basic needs, which then results in the increase of production volume. A rich individual however, will not need to spend too much money in order to fulfil their needs in life. Even the one wants to spend much, it will not more than a group of poorer spending money for basic needs. Moreover, the increase in production volume will led to the rise of several economic activities. In order to support the increased production, the economy would generate more jobs and more working opportunities which causes the unemployment level tends to reduce with the growth of economy in overall. The rise of job opportunities will then generates more demand of goods and services and more space for additional investment. And, finally, the growth cycle will lead to a balanced economic growth. Other than that, the Zakat system also will increase the overall savings of people, although with the concept of discouraging of over storage of money for an individual. Consequently, the income level of a society also has increased. All of these economic activities will led to the decrease in probability of economic recession. As the Zakat system is used to balance the wealth between the rich and poor, the chance of recession can be reduced. The impact brought by Zakat towards economic has improved the living standard of society, the inequality and poverty problem reduced and helped to decrease the crime rate and any other social evil that would harm the society. This is how the Zakat system makes a difference towards the society. TYPES OF ZAKAT Zakat is divided into several types: Zakat of Income Zakat of Savings Zakat of Business Zakat of KWSP/LTAT Zakat of Share Zakat of Livestock Zakat of Gold and Silver Zakat of Crops Zakat of Income Extra payment received by an individual from their employer or individual itself in the form of physical energy or physically or professional employment for specific day, month and yearly also been required to pay Zakat. Employment income includes: The annual salary Other allowances Unpaid wages Other remuneration such as bonuses, etc. Method of Calculation First Method Using gross income (without deduction) 2.5% on gross income per year. Example: Total gross income per year: RM 25,000.00 Amount of Zakat (2.5%): RM 625.00 Monthly Payment: RM 625.00 /12 = RM 52.08 Second Method Using the net income (Income year less allowable expenses per year) x 2.5% Expenses allowed deduction (per year): -:- Self: RM 8,000.00 Wife: RM 5,000.00 Children: RM 1,000.00 KWSP: 11% from gross income workers Parents Contribution: RM (amount given) per month x 12 months Contributions to organizations that pay the Zakat (for example: Lembaga Tabung Haji, Takaful) Zakat of Savings Contribution of workers and employers to KWSP People Provident Fund , Soldiers Provident Fund (LTAT) are also required to pay Zakat as the concept is similar to savings but the different is savings of KWSP and LTAT could not be withdraws anytime where never they like and it is subject the rules. Fixed Deposit Fixed deposit of RM 100,000 was kept for a year without the excluded (assumed nisab charity at that RM 9430.00) Then charity is required to produce are: RM 100,000 x 2.5% = RM 2.500 Regular Deposit Method of Calculation (Duration haul is January 5, 1999 until February 7, 2000) (Assuming nisab of charity at that RM 3,323.50) So Zakat are: (Balances with lower interest bank refused WITH) X 2.5% (RM 9,115.00 RM 115.00) x 2.5% = RM 225.00 Zakat of Business Zakat been given out by Sole Prop irate, Partnership, Cooperative Society, Societies and Organization which had reached one year and the time limit. Method of Calculations [(Current Assets Current Liability) + Coordination x Percentage of Muslims Share x ZAKAT ABILITY (2.5 %)]. Zakat of KWSP Contributions of employees and employers into the Employees Provident Fund (EPF), Lembaga Tabung Angkatan Army (LTAT),or the like imposed zakat as conceptually the same as saving money, but with the difference amount of savings, LTAT and so on shall not be issued at anytime because and subject to regulations that is fixed. Method of calculation First Method 2.5% of the contribution that issued once money issued. Second Method 2.5% of contribution every employee is based on the annual statement Zakat of Shares Zakat which is given out for investment which has reached its time limit and minimum value. Methed of Calculation 2.5 % the value of lowest share share which is own for one year minus for shared borrowed. If the lowest value is not determined, use the value beginning early in the year or in the year or whichever is the lowest. For shareholders which must be owned by investors. Muslims in the long term to gain control a company or firm so his payment for Zakat will be based on the calculations that it will not affect the importance of other Muslims to get hold of the company. If any of the owners shares has not reached one year, but the whole property being changed for a number of time for one year from shares to cash and vice versa, so use the lowest value with the mixture of money and shares, shares with basic to count Zakat multiply 2.5 %. Zakat of Livestock Livestock Zakat is property Zakat that required to be taken out in perfect the conditions. Domestic animal that obliged to pay Zakat is among them such as goat, cattle, camel, sheep, and buffalo. Prophet S.A.W said From Muaz Ibnu Jabal, had said, RasulullahS.A.W was sending me to Yaman and ask me to collect zakat from each of 30 cows, 1 lamb musinnah (1 female cattle aged up to 3 years ) and every 30 cows, tabi or tabiah ( 1 male or female cattle aged up to 2 years). The livestock that we would like to give a Zakat must be perfect and no defects such as missing the foot or hand and so on. COWS/BUFFALOES Quantities Zakat Amount / Sex 30-39 tail 1 tail, age 1 year / male 40-59 tail 1 tail, age 2 year / female 60-69 tail 2 tail, age 1 year / male 70-79 tail 1 tail, age 1 year / male and 2 tail, age 2 year / male 80-89 tail 2 tail, age 2 year / female 90-99 tail 3 tail, age 1 year / male 100-109 tail 1 tail, age 2 year / female and 2 tail, age 1 year / male 110-119 tail 2 tail, age 2 year / female and 1 tail, age 1 year / male 120 tail above tail, age 2 year / female and 3 tail, age 1 year / male GOATS Quantities Zakat Amount / Sex 40-120 tail 1 tail, age 2 year / male or female 121-200 tail 2 tail, age 2 year / male or female 201-399 tail 3 tail, age 2 year / male or female Subsequent additions : Every of 100 tail plus plus 1 tail, age 2 year / male or female SHEEP Quantities Zakat Amount / Sex 40-120 tail 1 tail, age 1 year/ male @ female 121-200 tail 2 tail , age 1 year / male @ female 201-399 tail 3 tail, age 1 year/ male @ female Subsequent additions : every 100 tail Increased by 1 tail, age 1 year / male @ female. Zakat of Silver and Gold Gold and silver is a mineral that is required to charity. This is because these metals are very useful as it uses an exchange value of all things. As for other jewelry than gold and silver like diamond, pearl, silk, copper, are not obligatory Zakat on it. Nisab Zakat gold used = 200gram Gold Zakat Nisab unused = 85gram Zakat of Crops Zakat for basic food after it has reached the stage of satisfaction for the state which is 363 gantang / 1300 kg like paddy, wheat, cereals and so on. Method of Calculation First Method Cereals and fruits which used by people energy, animals and machines will use a lot of expenditure and so that the Zakat is 10 % or 1/10 Second Method Cereals and fruits depend on rain water, so Zakat is 5 % or 1/20 Third Method Cereals and fruits depends both as above method, so Zakat is 7.5 % ZAKAT PAYMENT When Does Zakat Become Obligation Only the wealth of Muslims is imposing to Zakat, it is not required from non-Muslim. First, this is because Zakat is one of the Pillar of Islam; it cant expect any disbeliever to pay it. Second, Islam is one of religion which is prohibiting any action that enforce others accept Islam as ones religion. In additional, if people just adapt them to Islam they should not be asked any past due of Zakat (the period of disbelief). According to the Shariah, Zakat is an obligatory for any Muslim who is: Mature Only major subject to the Zakat, qualify as a Zakat payer. Due to the lack of legal capacity, minor are not under a fard obligation to perform acts of ibadah. They are exempt from paying Zakat by using reason they deficiency of legal capacity. Sane As a Zakat payer, he should be sane. Before a child reaches mature, he considers as insane. He is exempt from the payment of Zakat during that period and liability of Zakat is start calculate when he get back his sanity. For another example, although the person was sane at the time of maturity but after that he becomes insanity. This person also exempts Zakat for the period his insanity. The liability of Zakat is calculated from the date of recovery of sanity. On the other hand, if the person only insanity of a part of the year, then his liability for Zakat of that year is calculated, no exempt. Free Owns the minimum (nizab) As a Zakat payer, he must meet all these four conditions. If one condition is not met, he doesnt have an obligation for the payment of Zakat. Besides, even a child, an orphan, or a mentally retarded person is exempt from Zakat payment but they are required to pay on their behalf. Last, if a person died without pay the Zakat was due, Zakat will take from the estate of a deceased person. ZAKAT DISTRIBUTION Categories Where Zakat Can Be Spent Zakat is only paid to an individual who is really needed and deserve. In the Quran, Allah (swt) says that: Zakat is for the poor and the needy and those who are in charge thereof, those whose hearts are to be reconciled; and to free those bondages, and to help those burned by debt, and for expenditure in the way of Allah, and for the wayfarer. This is an obligation from Allah. Allah is All- Knowing, All- Wise. (9:60) According to this, Zakat only can pay under eight categories. There are: The poor and the needy The main objective of Zakat is to reduce or mitigate poverty and destitution in social. The way to achieve it is taken from the rich and rendered to the poor. Actually, people who are poor and need is different. People whose are categories as poor when they are in need but due to modesty and self-respect, they are not begging from others. People who are in need and they are submitted in begging from others are classified as people who are needy. A person has become poor and needy mostly is because they are shortage in their income, they cannot fulfil the essential needs, and they are totally poverty. Besides, poor and need also includes those are physical disability, old age, or accidental circumstances. According to Al-Qaradawi, full- time students can be in needy situation when they are continuing their education. Workers in Zakat administration A person who collects and distributes Zakat is the third category of Zakat recipients. Based on Al- Qaradawi, Zakat collection and administration is the function of an organized body paid employees. Workers can receive Zakat as a compensation for their works regardless they are poor or not. Besides, this compensation must compete with the market value of their labour. Those whose hearts are being reconciled Five types of people involved in this category, there are: An individual who is close to become Muslim or whose clans may become Muslim. An individual who may do evil or harm to Muslim. Giving a Zakat to those people will prohibit them to do it. An individual who has just become Muslim, Zakat will help them to be engaged with Islam An individual who has a positive influence on Muslim. A Muslim who is expected to defend their Muslim land against attract from other. This happens especially when they are living on the boarder of a Muslim country. Muslim whose influence is needed in the process of collecting Zakat in order to convince individuals whose will not pay their Zakat. This action can avoid having fought between government and whose reject in Zakat payment. According to some jurists, such as Hanafis and Malikis, this category is not exist since the death of the Prophet but Al-Qaradawi and Mawdudi disagree with it, they state that Zakat recipients in this category have not stopped, but the payment only can make by the Islamic state, not by individual Zakat payers. Emancipation of slaves Contracted salves can use Zakat to pay his master in order to gain his freedom. Allah orders Muslims must show respect and give to give slaves who wish his contract is freeing. Besides, Allah also orders master to help his own slaves become freedom if they demand it. Allah says, If any slaves you own desire to make a contract to free themselves, write it for them if you know of good in them some of the wealth Allah has given you. Those burned in debt. According to the Hanafi School, a person is included in this category when he does not have enough wealth to serve his debt. The debts arise from consumer expenditure; it includes medical bills, building a house for personal residence, and marriage. Besides, victims those hit by natural disasters or accident and force them must borrow from other in order to continue their basic life also includes in this category. Zakat also consider as a high quality insurance against the financial effect from natural disasters or accidents. Before applying the Zakat, four conditions must be met, they are: The debtor must be in need of financial facilitating. A person who can cover his debt with his own wealth can not apply from Zakat. Besides, people who do not have sufficient wealth but they still can serve his debt with the income is eligible for Zakat. This condition shows Zakat is not only for a debtor who is totally destitute. Zakat may pay with difference depend on the level amount of debt against the available wealth of the debtor. The debt must come from Islamically lawful activity, for example borrowing in order to support the family. Loans are used for activities those are prohibited by Islam cannot be paid by Zakat. These activities include consumptions of alcoholic beverages and over-spending on lawful items. The main reason Zakat cannot be used to pay in these activities is to stop other to do this sin activities. The debt must be due immediately. Different scholar has a different idea of this condition. Some scholars approve that if the debt is due after one year, the debtor cannot get Zakat to pay it. Some disapprove of this; they argue that Zakat can give help to debtors regardless of the due date of the loans. One can be confirming is obligations owed to God are excluded in this category. The debt should by reason of other human beings. For example, obligation to Allah is excluded in this category. Obligation to Allah can be due Zakat and compensation for breaking a certain condition in Shariah. Expenditure in the way of Allah. After concluding the views of the Hanafi, Maliki, Shafii, and Hanbali, three points are agreed with them. There are: Jihad considers a part of this category. The fighter who fighting for the sake of Allah is lawful to receive Zakat. However the equipment and arms to fight is not agreed with some scholar. Public works such as building school, mosques, highways and roads, and irrigation canals is not qualified to receive Zakat. Four schools say that this public works have other funds to pay it such as fay and kharaj. Wayfarer Majority jurists believe that someone who just desire and just start travelling isnt classified in this category. This is because term Ibn as-sabil is meant someone on the road and a person who starts and desire travelling is still staying at home. Besides, a person considers as travellers will cut off his financial means at home. That means no income for him when he is travelling. A person who is desire for travel hasnt cut off his financial means yet. The wayfarer is one of a category can receive Zakat because of several reasons which are encouraged by the Quran: Travelling for purpose work and opportunity. Travelling can seek more knowledge and ponder on the signs of Allah in the world and on His animal and human communities. Travel can for the purpose of jihad in the Way of Allah Travel because of to attend the pilgrimage to the Sacred House of Allah. Categories Who Can Not Receive Zakat According to Yusuf al-Qardawi (1999), there are several categories of people who is cannot receive Zakat. These categories are: The rich people Zakat has purposed to reduce poverty and destitution in social. In order to achieve it, Zakat will be taken from the rich and rendered to the poor. If Zakat is given to the rich, th