Affordable Care Act Essay

Medicinal services change has been a sprouting issue inside the United States this previous year, and issues keep on surfacing. Toward the start of this procedure, Americans needed the administration to guarantee that all residents would have the option to have reasonable and great human services, regardless of what their money related circumstance. The cost for social insurance was expanding at a rate that individuals could no longer manage the cost of it and many individuals urgently needed a general medicinal services frameworks like a portion of their neighboring nations. It could be said, change was required, however how this change came about is the main problem now. Americans may not get what they expected, and it could wind up costing more than some individual at first idea. Significance of Research I need to investigate this monetary strategy since I hear such a great amount of examination from each individual I converse with, while I likewise observe a few loved ones profiting by the Affordable Care Act. I need to become familiar with what we really pursued and the repercussions for â€Å"pimping out† the social insurance industry, alongside any shrouded plans that may be implanted inside this new approach. As indicated by the U.S Department of Health and Human Services, â€Å"The Affordable Care Act was passed by Congress and afterward marked into law by the President on March 23, 2010. On June 28, 2012 the Supreme Court rendered a ultimate conclusion to maintain the human services law† (2014). It isn't until 2014 that is truly happening, to where it is commanded to have protection by April 2014. This arrangement was actualized to ensure each American has medical coverage yet little are appropriately taught on how this new strategy will influence us in the years to come. Time to take in reality from the two sides of the discussion Policy Overview The Affordable Health Care Act, was a strategy that has as of late been set up to assist residents with getting the human services they need at a moderate cost. As wages continue as before, costs keep on moving to where least wages isn’t enough, medicinal services is keep going on the rundown of necessities. Numerous Americans don't have medical coverage or get it from the state since it's anything but a moderate part of our economy and it was not commanded. Presently the administration as volunteered to cause laws and guidelines so as to guarantee each American resident has moderate medical coverage. For the individuals who can pay more, pay more, and the individuals who can’t, will at last save money. Despite the fact that that is an incredible idea for the American individuals to have confidence in, yet with the entirety of the guidelines, guidelines and underlining laws, it is essential to comprehend what Americans are really getting from this arrangement. For this paper, we will concentrate on people, bosses and duty credits accessible to help with the expense of protection. Arrangements of the Affordable Health Care Act On March 23, 2010, President Obama marked a far reaching wellbeing change, the Patient Protection and Affordable Care Act, into law. The laws and changes distraught, centers around arrangements to grow inclusion, control care costs, and improve social insurance conveyance framework. The primary arrangements is that all Americans are required to have medical coverage by April 2014, or people will deal with punishment indictments that can influence them for as long as three years. So it is significant for residents to go to the administration commercial center and apply for protection that they can bear. As per the Kaiser Foundation; â€Å"Those without inclusion take care of a duty punishment of the more prominent of $695 every year up to a limit of multiple times that sum ($2,085) per family or 2.5% of family salary. The punishment will be staged in as per the accompanying timetable: $95 in 2014, $325 in 2015, and $695 in 2016 for the level charge or 1.0% of available salary in 2014 , 2.0% of available pay in 2015, and 2.5% of available pay in 2016† (Kaiser Foundation, 2014). This explanation alone is the reason Americans ought not abstain from getting protection. Different arrangements that have been produced into results manage bosses. Presently bosses are required to offer protection dependent on the measure of representatives. For littler organizations this implies offering medicinal services protection to their fullâ time bosses and â€Å"Require businesses with in excess of 200 representatives to naturally enlist workers into medical coverage plans offered by the business. Workers may quit coverage† (Kaiser Foundation, 2014). With managers offering medicinal services inclusion at a reasonable rate to full-time workers, it makes some pick low maintenance work to abstain from giving out advantages. A great deal of Americans dread they will lose hour’s straightforward in light of the fact that their managers would prefer not to pay for them, which is something that could without much of a stretch occur. Other than people and managers being influenced, Medicaid is likewise going under an extension. More cash is being put to the individuals who are needing protection and can't pay for it, for example, pregnant ladies, kids and guardians. With the extension Medicaid to all non-Medicare qualified people under age 65, for example, those expressed above â€Å"All recently qualified grown-ups will be ensured a benchmark advantage bundle that meets the basic medical advantages accessible through the Exchanges† (Kaiser Foundation, 2014). Another significant viewpoint relates to the individuals who are inclined to certain ailments. For example, residents can never again be denied human services inclusion dependent on wellbeing dangers they as of now have. In addition to other things, the administration likewise provide charge credit so as to bring down the expense of protection, which depends on pay and family size. Investigation of Policy With any strategy or new law there will be protests and a reluctance to acknowledge these changes. Few out of every odd new bit of enactment fixes the current issues. A portion of the issues just deteriorate, and afterward the law must be transformed. With the Affordable Health Care Act, there are various upsides and downsides with this approach and beneath, it will clarify how these progressions have extraordinarily influenced the overall population to improve things and more awful. Professionals With the Affordable Health Care Act being executed, there are various extraordinary perspectives that have now been placed into impact. The first and most straightforward of the progressions presently permits kids younger than 26 to stay on their folks protection designs, this implies longer inclusion for youthful grown-ups in America, this likewise implies no lifetime restrains on wellbeing inclusion; and newâ insurance arrangements that must give preventive consideration with no type of cost-sharing (UPMC, 2013). Among different changes, these are the accompanying advantages of having the Affordable Health Care Act set up; Health care inclusion for uninsured Americans. Through a mix of making the medical coverage commercial center and urging the states to grow Medicaid, a large number of Americans without health care coverage presently approach moderate inclusion. Regardless of the circumstance, individuals will be secured. Decreasing uninsured wellbeing occasions: Americans have consistently had issues with respect to doctor's visit expenses and exorbitant methodology that many couldn't bear. Presently, in light of the fact that the Affordable Health Care Act expects residents to have human services inclusion, we will significantly decrease the occurrences of uninsured wellbeing occasions. No more inclusion separation because of medical problems or sexual orientation. The principle issue with medical coverage organizations was the way that they could, â€Å"charge silly costs or even deny inclusion to Americans dependent on specific ailments, age, or sexual orientation. Because you are poorly, brought into the world with an incapacity, or female and may require pregnancy care, doesn’t mean you shouldn’t approach moderate coverage† (UPMC, 2013). Changing the laws that administer inclusion presently assists with consummatio n inclusion separation. Development of business supported wellbeing inclusion. â€Å"Many bosses don’t offer any medical coverage to representatives, even those working all day. ObamaCare requires all organizations with more than 50 full-time comparable representatives to offer medical coverage to full-time staff by 2016 or they might be dependent upon a penalty† (UPMC, 2013). This presently makes managers liable for the social insurance of their workers, which thusly counterbalances the measure of individuals on Medicaid, or decreases the measure of individuals uninsured. These advantages significantly influence the regular day to day existence of an American, no more segregation because of previous conditions, or higher rates to these people. Businesses currently bring to the table protection to their full-time representatives, and everybody has the privilege to reasonable medicinal services which will prevent them from being constrained into obligation. Cons With each strategy, there are going to issues that come to surface, once in a while an arrangement fixes nothing by any means, while different occasions it is exactly what the specialist requested. Coming up next are a portion of the negative impacts that could cause the Affordable Health Care Act to reverse discharge or prevent Americans from having faith in the framework. Working Americans will pay more. Most working class Americans hold all day occupations and get medical coverage through their bosses. Medicinal services costs were ascending before the Affordable Care Act became law, and joined with the impacts of the law, businesses will probably reconsider the protection they offer. Businesses will begin to reexamine their inclusion to their representatives which could wind up expanding their work-based protection. A portion of the required coverage’s are against the virtues of bosses. The command to offer contraception with no charge to the patient has caused a ton of issues, particularly for bosses whose ethical code directs that they don't bolster contraception of any sort. In any case, this is a way of individual decision, managers can't direct what their representatives needs are. Including extra human services costs will affect laborers. The law will make a few bosses offer lower inclusion or maybe no inclusion to their laborers, or maybe increment the sum representatives

Capital Budget Recommendation

As a devoted furniture creator and businessperson, an away from of the strategies used to aid capital planning is significant. There are a few strategies utilized, each having favorable circumstances and detriments. Inside this proposal, the points of interest and drawbacks of every strategy will be quickly talked about. Moreover, examine how every method will help with deciding the alluring capital spending strategy to suggest. Finishing up with a strategy Mr. Navallez should take, alongside computation to help the suggested strategy. Capital spending methods Several strategies can be utilized to examine a chance to put resources into capital. Net Present Value (NPV) permits leaders to examine the current worth (cost) of a capital venture and decide whether the speculation will repay the money outpouring utilized for capital speculation by an overabundance of the ideal pace of return. The board â€Å"wants to know the pace of come back to anticipate from investing†, along the se lines, will â€Å"use the inward pace of bring technique back. (Edmonds, Edmonds, Olds, McNair, and Schnieder, p. 1156)The interior pace of return delivers the genuine pace of profit for a venture; where as, net present worth permits the executives to choose the ideal pace of profit for a speculation. A basic and clear strategy is the compensation time frame; as the name proposes â€Å"payback† this procedure â€Å"shows to what extent it will take to recoup the underlying money outpouring (the expense) of a venture. † (Edmonds, Edmonds, Olds, McNair, and Schnieder, p. 164) Although, the restitution time frame outfits the timeframe when the expense is probably going to be recouped, the procedure doesn't represent pay in abundance of the underlying money surge or help with assessing diverse forthcoming capital speculations. Also, changed inside pace of return strategy shows the balanced pace of profit put together for the normal come back with respect to venture aft er expenses, be that as it may, doesn't figure remuneration or aid assessment of options. With the end goal of the proposal further conversation of net present worth and inner pace of return help with deciding the ideal game-plan Mr.Navallez ought to procure. The two procedures exhibit the capacity to think about the two forthcoming speculations Mr. Navallez is thinking about. Regarding each planned venture inside this proposal each will be referenced as Alternative 1 and Alternative 2. Elective 1 is the acquisition of mechanized cutting edge hardware and Alternative 2 is turning into an agent. Net preset worth versus inner pace of return Net present worth (NPV) is controlled by â€Å"subtracting the expense of the venture from the current estimation of things to come money inflows. † (Edmonds, Edmonds, Olds, McNair, and Schnieder, p. 156) The future money inflow is a computation that is processed by taking the future yearly money inflow of the venture (installments), number of periods, and wanted pace of return. Two results are controlled by the utilization of this strategy, a high pace of return or a beneath pace of return. The most ideal result is a high pace of return; a high pace of return shows the future money inflow of a speculation merits the present money surge (cost of the venture). Being used, the expense of the robotized hardware deducted from present estimation of things to come money inflows will show the net present estimation of the investment.Cash inflow comprises of agent charges, working capital recuperation because of the abatement in labor and assembling cost. Net present worth will show whether the imminent speculation will repay in overabundance of the ideal pace of return. Interior pace of return is a craving rate, likewise called obstacle rate, or cutoff rate, or least rate set by the association as the normal profit for the speculation. â€Å"The pace of return is the rate at which the current estimation of money inflows rise s to the money surges. † (Edmonds, Edmonds, Olds, McNair, and Schnieder, p. 1156) â€Å"The higher inside pace of return, the more gainful the speculation. (Edmonds, Edmonds, Olds, McNair, and Schnieder, p. 1160) The inward pace of return is determined by taking the absolute qualities (money inflow and outpouring) and â€Å"guess† (pace of return). This strategy aid the dynamic procedure in light of the fact that once the inside pace of return is resolved, the ideal speculation can without much of a stretch be chosen. Taking the money outpouring and inflow from every other option and the ideal pace of return will offer the best examination as which speculation will introduce an arrival positive. Proposal The suggestion Mr. Navallez should take is elective 1. Elective 1 offers the best profit for investment.The utilization of the net present worth strategies presents the ideal rate of profitability. Net present an incentive over interior pace of return presents the norm al profit for money outpourings for the expense of the speculation, consequently permitting administration to â€Å"compute a current worth record. † (Edmonds, Edmonds, Olds, McNair, and Schnieder, p. 1160) Assume the ideal pace of return is 8% more than 10 periods, elective 1 money inflow would be $421,834 with money surge being $323,091 and elective 2 money inflow of $314,057 with money outpouring being $283,930. The current estimation of elective 1 is $98,743 and elective 2 is $30,127.Alternative 1 yields a higher pace of return, in any case, making it a stride further to affirm elective 1 is the best venture the current worth file offers an extra correlation of the two speculations. Present worth file is determined by separating money inflows from money outpourings, â€Å"the higher the proportion, the higher the pace of return per dollar put into the proposed venture. † (Edmonds, Edmonds, Olds, McNair, and Schnieder, p. 1160) Alternative 1 proportion 1. 306 and el ective 2 proportion 1. 106; along these lines affirming elective 1 the best venture and the most gainful for Mr. Navallez. Capital Budget Recommendation As a devoted furniture creator and specialist, an away from of the strategies used to aid capital planning is significant. There are a few procedures utilized, each having favorable circumstances and impediments. Inside this proposal, the points of interest and hindrances of every procedure will be quickly examined. Moreover, talk about how every procedure will help with deciding the alluring capital spending method to suggest. Closing with a game-plan Mr. Navallez should take, alongside estimation to help the suggested game-plan. Capital spending methods Several procedures can be utilized to examine a chance to put resources into capital. Net Present Value (NPV) permits chiefs to break down the current worth (cost) of a capital speculation and decide whether the venture will repay the money outpouring utilized for capital venture by an overabundance of the ideal pace of return. The executives â€Å"wants to know the pace of come back to anticipate from investing†, along these lines, will â€Å"use the inside pace of bring technique back. (Edmonds, Edmonds, Olds, McNair, and Schnieder, p. 1156)The inward pace of return delivers the real pace of profit for a venture; where as, net present worth permits the board to choose the ideal pace of profit for a speculation. A basic and clear method is the restitution time frame; as the name proposes â€Å"payback† this procedure â€Å"shows to what extent it will take to recoup the underlying money surge (the expense) of a speculation. † (Edmonds, Edmonds, Olds, McNair, and Schnieder, p. 164) Although, the recompense time frame outfits the timespan when the expense is probably going to be recouped, the procedure doesn't represent pay in abundance of the underlying money surge or help with assessing distinctive planned capital ventures. Also, changed inner pace of return strategy shows the balanced pace of profit put together for the normal come back with respect to venture after charges, in any case , doesn't compute pay or aid assessment of options. With the end goal of the proposal further conversation of net present worth and interior pace of return help with deciding the ideal strategy Mr.Navallez ought to get. The two procedures show the capacity to analyze the two forthcoming ventures Mr. Navallez is thinking about. Regarding each forthcoming speculation inside this proposal each will be referenced as Alternative 1 and Alternative 2. Elective 1 is the acquisition of robotized innovative hardware and Alternative 2 is turning into an agent. Net preset worth versus inside pace of return Net present worth (NPV) is dictated by â€Å"subtracting the expense of the speculation from the current estimation of things to come money inflows. † (Edmonds, Edmonds, Olds, McNair, and Schnieder, p. 156) The future money inflow is an estimation that is figured by taking the future yearly money inflow of the venture (installments), number of periods, and wanted pace of return. Two re sults are dictated by the utilization of this method, a high pace of return or an underneath pace of return. The most positive result is a high pace of return; a high pace of return demonstrates the future money inflow of a speculation merits the present money surge (cost of the venture). Being used, the expense of the computerized apparatus deducted from present estimation of things to come money inflows will show the net present estimation of the investment.Cash inflow comprises of delegate charges, working capital recuperation because of the lessening in labor and assembling cost. Net present worth will show whether the imminent speculation will remunerate in abundance of the ideal pace of return. Interior pace of return is a longing rate, additionally called obstacle rate, or cutoff rate, or least rate set by the association as the normal profit for the speculation. â€Å"The pace of return is the rate at which the current estimation of money inflows rises to

First Year Academic Merit Scholarships have been Awarded - UGA Undergraduate Admissions

First Year Academic Merit Scholarships have been Awarded - UGA Undergraduate Admissions First Year Academic Merit Scholarships have been Awarded Over the last several months the Admissions staff has carefully reviewed all our newly admitted First Year students to consider them for University of Georgia academic merit scholarships. (See the list and our discussion of merit and need-based aid at our website, https://admissions.uga.edu/article/scholarships-at-uga.html.) All scholarships available through Admissions have now been awarded, and we have contacted each of the recipients via email and mail. At UGA, academic merit scholarships have become increasingly competitive.This is mainly due to the limited funding we have for these awards and the high number of extremely capable students who now gain University of Georgia admission. Always continue to search for scholarship opportunities, whether or not you have been awarded a scholarship from Undergraduate Admissions Office. Search your academic major for scholarships online. Use our web site and the Office of Student Financial Aid web site to search for external scholarship opportunities. Also, remember to look for local scholarship opportunities for students in your home community. https://www.admissions.uga.edu/Prospective-Students/Tuition-Fees/Scholarships/External-Scholarships http://osfa.uga.edu/announcements.html If you have been selected for any of our Academic Merit awards, congratulations! Please be sure to read your offer letter carefully. Keep it for your records. In this letter you will see what requirements you must maintain to renew your scholarship each succeeding year and, in general, how much the scholarship is worth in relation to your overall costs.

The Blame Upon Victor Frankenstein - Free Essay Example

Sample details Pages: 4 Words: 1101 Downloads: 5 Date added: 2019/04/12 Category Literature Essay Level High school Tags: Frankenstein Essay Did you like this example? In the book Frankenstein by Mary Shelley, it is clear to lay the blame upon Victor Frankenstein. The definition of blame is the assignation of responsibility towards someone/something for a fault or wrong. Victors love and passion for science led to a monstrous idea and ended up killing three people. Don’t waste time! Our writers will create an original "The Blame Upon Victor Frankenstein" essay for you Create order While his pride was a driving force, abandoning the creature was not a smart move. Due to the fact that his idea was matched with the act of doing gives the right to put forth the blame. Clearly, Victor Frankensteins pride and hunger for recognition blinded his reasoning and abandoning the creature brought blame upon himself. In light of the formation of the creature, Frankensteins pride pushed it further to existence. It all started during his childhood; natural philosophy changed the way he saw things and was purely obsessed with science. At age thirteen, Victor attended a party of pleasure to the baths near Thonon, where due to weather conditions, had to stay at an inn in which he founded the works of Cornelius Agrippa(a philosopher). He became intrigued; therefore sought to his father to show him the book, but his father turned it down calling it sad trash. Victors father was not scientific in the least and always turned to logic, whereas Victor thrived for science. His father never understood Frankensteins passion for science, and so it drove Frankensteins desire for intelligence. My father was not scientific, and I was left to struggle with a childs blindness, added to a students thirst for knowledge.(Shelley 36). Blind indeed Frankenstein was, but not from the lack of information given as a child; he was blinded by his own pride and the scarcity of judgement. Victors knowledge continued to grow as did his pride leading up to the creation of the creature. Wealth was an inferior object, but what glory would attend the discovery if I could banish disease from the human frame and render man invulnerable to any but a violent death! Nor were these my only visions. The raising of ghosts or devils was a promise liberally accorded by my favourite authors, the fulfillment of which I most eagerly sought; and if my incantations were always unsuccessful, I attributed the failure rather to my own inexperience and mistake than to a want of skill or fidelity in my instructors. (Shelley 36). In this quote his pride shows by his obsession over the idea of the recognition from his accomplishment, not thinking of the whole picture. His focus was on him and what he could possibly bring to the table of science. Frankenstein could be defined as a narcissist, fantasising over success, power, and brilliance, who takes advantage of others and has a hard time maintaining relationships; entitled. Since his only thoughts were on himself, it lead his pride take over, constructing a demolition. As shown above, Victor Frankensteins pride blinded his judgement, leaving him to blame upon the destruction. Finally, his abandonment of the creature left it to live in fear and confusion, causing it to harm others. After fulfilling his goal (creating the creature), he was amazed by his creation at first, but when he observed all the details of its appearance he was disgusted and relentful. I had desired it with an ardour that far exceeded moderation; but now that I had finished, the beauty of the dream vanished, and breathless horror and disgust filled my heart.(Shelley 59). It was at that moment when Frankenstein made a terrible mistake; abandoning the creature. Unable to endure the aspect of the being I had created, I rushed out of the room and continued a long time traversing my bedchamber, unable to compose my mind to sleep.(Shelley 59). There are only two reasons thought of as to why he left it to fend for itself: pure shock and regret in his decision making, and repeating what his father did to him (cowardice). In the beginning of the book, just after his mother died his father sent Victor away to school to study his science. Instead of pushing Victor away during this depressing time, he should have kept him close and went through a time of mourning together as family. Since Victor had no understanding of what parenting is, like his father, he ran from his problem and had no intention of teaching it the ways of the world. Due to his abandonment, the creature became angry, and scared. During this time, it led him to do bad things; kill people. Frankenstein then went to seek out the creature to be rid of him. Once he got ahold of it, the creature said, ?I expected this reception, said the daemon. All men hate the wretched; how, then, must I be hated, who am miserable beyond all living things! Yet you, my creator, detest and spurn me, thy creature, to whom thou art bound by ties only dissoluble by the annihilation of one of us. You purpose to kill me. How dare you sport thus with life? Do your duty towards me, and I will do mine towards you and the rest of mankind. If you will comply with my conditions, I will leave them and you at peace; but if you refuse, I will glut the maw of death, until it be satiated with the blood of your remaining friends.'(Shelley 113). In this quote, the creature questions Frankenstein reason to why he brought him to life if all he wants to do is kill him and the rest of mankind sees it as this ratchet monster, essentially blaming him for creating him. While murdering people wasnt the best idea, the creature didnt know any better because it wasnt conditioned/trained right from wrong. If Frankenstein would have taught the creature the ways of human life like polite mannerisms, basic education, and cognitive thinking, most likely the murders would not have taken place. Given these points, it is Frankensteins fault that his abandonment brought bitterness upon the creature, causing harm towards others. In conclusion, Victor Frankensteins pride and hunger for recognition blinded his reasoning and abandoning the creature brought blame upon himself. His pride grew with the knowledge he obtained from his schooling and philosophers he read about, for example Cornelius Agrippa; therefore contributing to his narcissism and not thinking about the whole picture. Frankenstein also abandoned the creature leaving it to fester in anger and confusion towards his existence that it displaced its emotions on others, killing them. Ultimately, the blame should be laid on Frankensteins shoulders due to excessive pride and refusing his responsibility towards his creation, the creature.

Types Of Personality Tests Exist Today - 972 Words

ISFJ Personality Type Many types of personality tests exist today. The Meyers Briggs test has been proven valid and reliable by hundreds of studies over the past 40 years (MBTI Basics). My personality type is ISFJ which stands for Introverted, Sensing, Feeling and Judging. Learning about my personality type has helped me realize which careers that would be good, the best way for to study, my ability to successfully work on a team and even how my personality type impacts my personal relationships. The description of this personality type seems to be an accurate assessment of my personality The ISFJ personality type is described as a person who is quiet, loyal, cares about how others feel and does not like turmoil. My job history is a very short list with my shortest time of employment being six years. I have been close friends with all of my supervisors. I often think about how a decision will affect those around me before I take any actions on them. The careers examples listed for the ISFJ personality type include positions that interact with people due to the ability to pick up on how others are feeling. The career choice that caught my eye first was administrative assistants. I have been in this career for 20 years and I do love it. I have always said that I am good at this job. The Myers-Briggs test helps me understand why. A couple other career choices that was mentioned were nursing and dental assistants. I am currently working on changing careers to dentalShow MoreRelatedEmotional Intelligence And Effective Leadership1144 Words   |  5 Pages Today, a relationship co-exist with emotional intelligence (EI) for effective leadership. Leadership can be described as having a social relation with personnel within an organization to support mission goals and purpose. â€Å"Emotional intelligence includes the ability to perceive, express emotions accurately and adaptively†¦Ã¢â‚¬  (as cited in Ramchunder Martins, 2014). 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The â€Å"driver† may utilize technical reasoning with an emot ionless approach, which may scare away an amiable that is looking for a more personal experience. Varying personality types can still form partnerships, the salesperson however must be aware of this and change their approach. Today we often see indicators for likeability. HowRead MorePsychoanalytic and Phenomenological Explanations of Persistent Antisocial Criminal Behavior1695 Words   |  7 PagesIndividuals personalities and overall quality of living are significantly influenced by several interrelated sources ranging from ones upbringing and quality of relationships to their own feelings of self-esteem and worth. Though this may seem relatively easy and un-complex, countless people today are engaged in persistent antisocial, criminal behavior, and seem unable to find an alternative, legal, means of living. While many have tried to explain such behavior through various theories, the

Is the Nuclear Family Universal Free Essays

Is the nuclear family universal? This essay will explore whether the nuclear family is in fact a universal sociological institution. The term ‘universal’ means applicable to all cases, so, for this to be correct the nuclear family must be found in all families in every society. Nuclear family consist a husband and wife and one or more children, own or adopted, it is defined by Murdock and according to him, he believed that the nuclear family is ‘a universal social grouping. We will write a custom essay sample on Is the Nuclear Family Universal or any similar topic only for you Order Now ‘ Functionalist George Murdock suggested an idea of universality of the family as family is the basic and vital institution in all societies. He looked at 250 societies and found four the most significant functions of the family: sexual, economic, reproduction and socialization. These functions are essential and meet needs in all societies and institution who best fits in performing them is family. Murdock defined the family as social group characterized by common residence, consisting of adults of both sexes and dependant children. There are statistics that suggest the diversity of families is developing, such as cohabiting, single-parent and reconstituted homosexual families. All evidences seem to prove that nuclear family is not the dominant type of family. However, living in a nuclear family is a phase that most people, as children and adults, go through in the course of their life. The Government seems to be more preferable to nuclear family, as the nuclear family can be a nurturing environment in which to raise children as long as there is love, time spent with children, emotional support, low stress, and a stable economic environment. So, although there is an increasing diversity of family, nuclear family is still universal. The nuclear family is promoted by politicians and media. For example, Labour policy Supporting Families (1998) suggested different ways of all types of families. However Labours also pointed out that preferred type will be nuclear. Media created ‘cereal packet image’ of the family where it was promoting ideal nuclear family. People being influenced by media and politicians start seeing other types of households undesirable or abnormal. However there is an opposing view to Murdock’s theory that goes against the idea of the nuclear family being universal. In 1959, Kathleen Gough provided a detailed insight of the Nayar society. This culture was mainly centred on the woman and known as a matrifocal family. In this society, when the woman reaches puberty, she is married to her Tali husband. This is a sacred and traditional marriage but although they are married by law the husband and wife have no obligations to each other, the woman is then allowed to take on up to 12 visiting Sandbanhan husbands who must come after tea and the stay the night and leave before breakfast the next morning. Husbands and wives didn’t form an economic unit. Also, husbands were not expected to maintain the wives and it was frowned upon to do so. Moreover, he didn’t bond, look after or socialize with the children. Another opposing view of the universal nuclear family is the IK culture. This tribe lives in Africa were each member shows now emotional connection with one another. Family, to them, means very little and each member of that society fends for themselves, showing no maternal instincts. If a new baby shows signs of weakness and disability, it will be disowned into the wilderness. The same happens to an elderly member who has no ‘purpose’ in the society. The experience and lifestyle of the IK suggests that family life across the world is characterised by diversity. However, in the UK definitions are dominated by the nuclear family. However, there is a lot of support for Murdock’s theory of the universal nuclear family. One argument is that statistically, the female-headed family is not the norm either within black communities or in the societies in which they are set. Also, some sociologists believe that the mainstream model of the nuclear family is valued by blacks and regarded as the ideal. However, there are many opposing views to his theory. The supposed harmful effects on the children of the matrifocal family are far from proven, and, we know that children from a nuclear family are sometimes abused or neglected. Looking closely at all the evidence I have explored in this essay, I conclude to find that the nuclear family is not universal. Families are simply groupings of people brought together by blood, marriage or some kind of connection. By looking at groups such as the Nayar society and the IK culture, it shows that the nuclear family is not applicable in all circumstances. Finally, in British culture the times are changing and there is a more diverse range of families in our society today. How to cite Is the Nuclear Family Universal, Essays

Analyze the Feasibility of Preschool Education

Question: Which research strategy would you choose? Media has suggested the possibility of high schools students graduating after their junior year if they attended preschool. If you wanted to study the feasibility of preschool education and finishing highschool early, which research strategy do you think would give you the best results and why? Answer: I would use the longitudinal research strategy to analyze the feasibility of preschool education and finishing high school study early. However, a structured interview based on some preselected questionnaires would be provided to some pre-selected groups of children. I would select an equal number of children and I would differentiate them into two separate groups. The first group of children would be chosen from a preschool environment and the second group would be selected from a bunch of children who have never attended pre-school in their life (Duncan Magnuson 2011). However, it should be kept in mind that both the children in this groups have same age group and shares same socio-economic background. The answers obtained from the survey report would be further analyzed for the longitudinal study which would help us to understand how the pre-schooled student are well prepared to complete the high school education keeping the non-preschool attendant student as the control for the study (Campbell et al., 2012). Having children in life brings immense happiness in the lives of the parents. It also brings meaning to the lives of the parents. Children are the gift of nature which provides a sense of dependency and support to the parents as they feel that there is someone in the future who would take care of them. Moreover, it helps the parents to pass family traditions and customs down the generation. It teaches the parents to become unselfish and provide a purpose for their life. This is the reason people have children in their life. Reference Campbell, F. A., Pungello, E. P., Burchinal, M., Kainz, K., Pan, Y., Wasik, B. H., ... Ramey, C. T. (2012). Adult outcomes as a function of an early childhood educational program: an Abecedarian Project follow-up.Developmental psychology,48(4), 1033. Duncan, G. J., Magnuson, K. (2011). The nature and impact of early achievement skills, attention skills, and behavior problems.Whither opportunity, 47-70.

The Course Of The Great Depression Essay Example For Students

The Course Of The Great Depression Essay The Asia turmoil begun in the middle of summer of 1997. The problem started in Thailand when Bath(known as Thaiscurencey) was geting weaker and weaker against US dollars. At that point, the rest of the world started to see that Thaiseconomy was starting to fall apart. Some pople predicted that the problem would not stay longer than a few months. However,it was wrong. As manner of fact, the problem spread amongs some of Asian Countries. Even the mighty Japan was effected bythis problem. United stated of America was also effected by this problem. That was a time that the US stock market was goingdown due to the fact that Many American cooporation invested in this some of Aisan countries. We will write a custom essay on The Course Of The Great Depression specifically for you for only $16.38 $13.9/page Order now Even today, the problem has not been fully recovered and who knows when. CauseThe main problem of the turmoil is the lack of management. Each countries has all similar problem. As we found out in ourresearch, we noticed that banking holds the main role and the key player to the turmoil. Many privates and Governmentbanking loaned too many credit for a big and similar project at the same time without checking the creditors solvency. Ofcourse among the creditor also, the money supposedly . And this is, of course, the second problem of the cause of the turmoil. Third, many creditors believe that their project will become successful without a proper preparation and planing. SolutionMalaysias National Economic Recovery Plan Causes of the Turmoil in the RegionIn todays world, large sums of money move across borders and provide more countries with access to international finance. The daily currency turnover in the foreign exchange market in 1995 is about US$1.2 trillion, compared with an average ofUS$190 billion a decade ago. The early 1990s saw the dramatic increase in the flows of private capital from the industrialcountries to the emerging countries. This was partly contributed by pension funds from the United States and Europe in searchfor higher returns overseas. The amount of private capital flowing into emerging markets was US$50 billion in 1990; the figurewas US$336 billion in 1996. With greater international capital flows, financial markets become more volatile as money movesacross borders with a mere keystroke of a computer. The unusual successful economic performance in the region attractedlarge inflows of foreign portfolio funds into the Asia Pacific region, which became a root cause for the currency crisis. Duringthe early to mid-1990s, China recorded growth rates between 9-14 per cent per annum, while Indonesia, Malaysia, andThailand experienced high annual growth rates that ranged between 7-12 per cent. Rapid growth rates were also recorded inSingapore, South Korea, and Taiwan. While there were sizeable current account deficits for some countries, especially for Malaysia and Thailand, these were theoutcome of the shortfalls of private savings to match private investment, not public sector dissaving. Foreign capital inflowsmade up for the shortfall in national savings to meet the very high national investment. While the net private inflows for Chinaand Vietnam were foreign, direct investment (FDI) dominated, short-term inflows were substantial for Indonesia, South Korea,Malaysia, and the Philippines. Thailand had a high level of short-term inflows of around 7-10 per cent of GDP. During1995-96, Malaysias short-term capital was 4-4.5 per cent of GDP, while its FDI was at 5 per cent of GDP. The decline in asset yields in the industrial economies prompted fund managers to invest into the Asian emerging assets, whichgave higher returns. The ASEAN countries suffered losses in competitiveness when the U.S. dollar, against which theircurrencies were closely linked, appreciated against the yen beginning in mid-1995. The rapid economic growth of theSoutheast Asian economies was accompanied by rapid credit growth to the private sector and asset price inflation, including inreal estate markets and in equity markets, rising the concern that their exchange rates were not sustainable. Weakness in the financial sector compounded the problem. The financial institutions in Thailand, Indonesia, and South Koreawere weakened by large-scale exposure to the property sector, high non-performing loans, and short-term loans that wereunhedged against currency movements. Inadequate disclosure of information and data deficiencies increased uncertainty andadversely affected confidence. There was also the lack of transparency in policy implementation. A brief explanation about IMFIMF is not a charitable institution, nor does it carry out its operations at taxpayers expense. It operates much like a creditunion. On joining the IMF, each member country subscribes a sum of money called its quota. Members normally pay 25percent of their quota subscriptions out of their foreign reserves, the rest in their national currencies. The quota is like a depositin the credit union, and the country continues to own it. The size of the quota determines the countrys voting rights, and theUnited States, with over 18 percent of the share, is the largest shareholder. Many essential issues require an 85 percentmajority, so that the United States effectively has a veto over major Fund decisions. When a member borrows from the Fund,it exchanges a certain amount of its own national currency for the use of an equivalent amount of currency of a country in astrong external position. The borrowing country pays interest at a floating market rate on the amount it has borrowed, while thecountry whose currency is being used receives interest. Since the interest received from the IMF is broadly in line with marketrates, the provision of financial resources to the Fund has involved little cost, to the creditor countries, including the UnitedStates. MF- Supported Programs in AsiaIMF-supported program to countries like Thailand, Indonesia and Korea have called for a substantial rise in interest rates toattempt to halt the downward spiral of currency depreciation. Over US$100 billion has been committed to the region under theIMF auspices since the crisis began. Conditions attached to the loans parallel those of the Latin America crisis of the 1980s. These programs have called for forceful, up-front action to put the financial system on a sounder footing as soon as possible. The fiscal programs vary from country to country. In each case, the IMF asked for a fiscal adjustment that would cover thecarrying costs of financial sector restructuringthe full cost of which is being spread over many yearsand to help restore asustainable balance of payments. In Thailand, this translated into an initial fiscal adjustment of 3 percent of GDP; in Korea, 11/2 percent of GDP; and in Indonesia, 1 percent of GDP, much of which will be achieved by reducing public investment inproject with low economic returns. .uad0a3d423cc01f0af0c9b7efffb0de2e , .uad0a3d423cc01f0af0c9b7efffb0de2e .postImageUrl , .uad0a3d423cc01f0af0c9b7efffb0de2e .centered-text-area { min-height: 80px; position: relative; } .uad0a3d423cc01f0af0c9b7efffb0de2e , .uad0a3d423cc01f0af0c9b7efffb0de2e:hover , .uad0a3d423cc01f0af0c9b7efffb0de2e:visited , .uad0a3d423cc01f0af0c9b7efffb0de2e:active { border:0!important; } .uad0a3d423cc01f0af0c9b7efffb0de2e .clearfix:after { content: ""; display: table; clear: both; } .uad0a3d423cc01f0af0c9b7efffb0de2e { display: block; transition: background-color 250ms; webkit-transition: background-color 250ms; width: 100%; opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #95A5A6; } .uad0a3d423cc01f0af0c9b7efffb0de2e:active , .uad0a3d423cc01f0af0c9b7efffb0de2e:hover { opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #2C3E50; } .uad0a3d423cc01f0af0c9b7efffb0de2e .centered-text-area { width: 100%; position: relative ; } .uad0a3d423cc01f0af0c9b7efffb0de2e .ctaText { border-bottom: 0 solid #fff; color: #2980B9; font-size: 16px; font-weight: bold; margin: 0; padding: 0; text-decoration: underline; } .uad0a3d423cc01f0af0c9b7efffb0de2e .postTitle { color: #FFFFFF; font-size: 16px; font-weight: 600; margin: 0; padding: 0; width: 100%; } .uad0a3d423cc01f0af0c9b7efffb0de2e .ctaButton { background-color: #7F8C8D!important; color: #2980B9; border: none; border-radius: 3px; box-shadow: none; font-size: 14px; font-weight: bold; line-height: 26px; moz-border-radius: 3px; text-align: center; text-decoration: none; text-shadow: none; width: 80px; min-height: 80px; background: url(https://artscolumbia.org/wp-content/plugins/intelly-related-posts/assets/images/simple-arrow.png)no-repeat; position: absolute; right: 0; top: 0; } .uad0a3d423cc01f0af0c9b7efffb0de2e:hover .ctaButton { background-color: #34495E!important; } .uad0a3d423cc01f0af0c9b7efffb0de2e .centered-text { display: table; height: 80px; padding-left : 18px; top: 0; } .uad0a3d423cc01f0af0c9b7efffb0de2e .uad0a3d423cc01f0af0c9b7efffb0de2e-content { display: table-cell; margin: 0; padding: 0; padding-right: 108px; position: relative; vertical-align: middle; width: 100%; } .uad0a3d423cc01f0af0c9b7efffb0de2e:after { content: ""; display: block; clear: both; } READ: An inquiry into ophelias madne EssayWorld Banks Agenda to Restructuring the East Asian EconomyThese are long-term issues and fixing the problems in these respective areas will take many years. Restructuring the industrialsector, changing the governance of the banking and the corporate sector and the relationship to the States, and adjusting theglobalization process to the level and capacities of the economy is not something than can done easily. Since the beginning of this crisis, about $110 billion have fled out the five major crisis countries Korea, Thailand, Indonesia,Malaysia, Philippines. This is about 10 per cent of the GDP of these countries. In addition to that, credits banking credits havealso been reduced by about $88 billion which is approximately another 8 per cent of the GDP. It means that about worth 18per cent of the GDP of these countries has just vanished in terms of funding of the economies. This withdrawal of funds has hadthe tremendous impact on the stock market and the exchange rate. Automatic corrections should come from the depreciationof the exchange rates and from the booming of exports. Japan is in recession and is extremely sensitive to the region. The totalamount of credits that the Japanese bank banking sector has allocated or distributed to the region is worth about 40 per cent ofits total, still in these five countries it is worth about 40 per cent of its capital. Given the vulnerability of t he economies it is amajor additional problem for the Japanese financial sector. Japan is exporting about 20 per cent is making about 20 per centof its exports in these countries, and the collapse of the economies there is impacting its performance. These countries aremaking between 15 and 25 per cent of their trade with Japan, and the recession in Japan is a major blow for all of them and isa major reason for this low demand that they are met with. In order to get out of the crisis, World Bank addressed the issue of clarifying the environment. One has to have a dynamicJapanese economy since Japan is an engine of growth in the region. The potential of the exports in Europe and in the US,provided these economies remain in an acceptable shape, or dynamic as is the case in the US, the potential for export cannotcompensate in the short run for the decline in the markets in the regional and Japanese markets. Another issue is within theregion itself within the countries. However, the ques tion is how to move an entire region up at the same time, given the fact thatthere is no possibility of success for an isolated country in such a depressing regional environment. There is no alternative tomore expansionary micro policies right now. Inflating the domestic demand is the only way in which we can break the viciouscircle of transmission of contagion from one country to the other. Another important thing is that there is room for major social programs in the region. These countries will not get through thecrisis without a very strong, very dynamic, very well thought social agenda. These agenda may be worth two, three, or fourpoints of GDP worth of public money. This is money, which is well invested and will pay off over the years especially as thesecountries have not right now social safety net they have developed. There is also a third use of the money, which is therecapitalization of the banking sector. Recapitalization by public funds of the banking sector makes sense only if in order tohave successful privatization process when the situation of the economy improves. IMF Bailout Rescuing the RichOxfam International Briefing, April 1998Oxfam International is concerned that IMF programs have been designed primarily with a view to bailing out recklessinternational investors, whose activities have contributed to the present crisis. The implication of the poor has been leftunconsidered. There is clear evidence of increasing poverty and hardship among the vulnerable communities, which Oxfamworks. There is now a real danger that a combination of deflationary policies and cuts in social sector funding will erode thesignificant advances made in poverty reduction over recent decades. In Indonesia, Oxfam estimates that the number of people living below the poverty line could quadruple over the next 6 monthsto affect 40 per cent of the population- the same incidence as in 1977. The number of people living in poverty will rise from 23million to 100 million this year, with devastating implications for human welfare and social stability. Long-standing developmentproblems in Indonesia such as high maternal mortality rate, lack of access to safe water for 80 million people, wideningdisparities in income- are bound to worsen. Recent field visits from Oxfam staff already point to distressing expansion ofpoverty in Indonesia, because of economic crisis and a prolonged draught. There are huge number of people out of work, asharp rise in the price of essential food and non-food items, the breakdown of the distribution of basic goods and services andthe increasing violations of human rights. In West Timor, 75 per cent of families are eating one meal a day that often includesA putak, @ the bark of a tree normally used as cattle feed. Million of Indonesian households can no longer afford basic care, tosend their children to school, or to buy enough food. Many are meeting immediate needs by selling assets, thus risking plungingfurther into poverty as the crisis continues. In Thailand, a recent World Bank report highlights the impact on the poor increased unemployment; price rises in basicfoodstuffs and cuts in basic services. In particular, the report emphasizes the impact of the crises on children. As family incomesfall, growing numbers have been forced to work, beg or enter prostitution. School drop out rates has risen and some familiescan no longer affords education or transport. In Thailand, unemployment is expected to rise to 1.7 million in the coming year. IMF insufficient attention has been paid to the specific circumstance of East Asia. Conditions attached to the loans parallelthose of the Latin America crises of the 1980s, demands massive deflation, with cuts in public spending and high interest ratesas the main policy instruments. The bias towards deflation and fiscal austerity is not only inappropriate, given the underlyingeconomic conditions, but threatens to turn recession into a full blown depression, with its attendant problems in terms of massunemployment and rising poverty. Monetary and fiscal policy has been tightened to the point of strangulation, threatening to killor disable the patient during the first phase of treatment. For instance in South Korea, the IMF wants to see interest ratesdoubled to more than 15 per cent. This will inevitable lead to the early collapse of many companies, resulting in a loss ofproduction and employment opportunities. Intense fiscal pressure are also being applied to Thailand, where public spending isto be reduced by the equivalent of 3 per cent of GDP. In Indonesia, public spending is scheduled to fall by around 10 per cent. .ufb31d4de988c38cdf022d54f6cb6a9e0 , .ufb31d4de988c38cdf022d54f6cb6a9e0 .postImageUrl , .ufb31d4de988c38cdf022d54f6cb6a9e0 .centered-text-area { min-height: 80px; position: relative; } .ufb31d4de988c38cdf022d54f6cb6a9e0 , .ufb31d4de988c38cdf022d54f6cb6a9e0:hover , .ufb31d4de988c38cdf022d54f6cb6a9e0:visited , .ufb31d4de988c38cdf022d54f6cb6a9e0:active { border:0!important; } .ufb31d4de988c38cdf022d54f6cb6a9e0 .clearfix:after { content: ""; display: table; clear: both; } .ufb31d4de988c38cdf022d54f6cb6a9e0 { display: block; transition: background-color 250ms; webkit-transition: background-color 250ms; width: 100%; opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #95A5A6; } .ufb31d4de988c38cdf022d54f6cb6a9e0:active , .ufb31d4de988c38cdf022d54f6cb6a9e0:hover { opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #2C3E50; } .ufb31d4de988c38cdf022d54f6cb6a9e0 .centered-text-area { width: 100%; position: relative ; } .ufb31d4de988c38cdf022d54f6cb6a9e0 .ctaText { border-bottom: 0 solid #fff; color: #2980B9; font-size: 16px; font-weight: bold; margin: 0; padding: 0; text-decoration: underline; } .ufb31d4de988c38cdf022d54f6cb6a9e0 .postTitle { color: #FFFFFF; font-size: 16px; font-weight: 600; margin: 0; padding: 0; width: 100%; } .ufb31d4de988c38cdf022d54f6cb6a9e0 .ctaButton { background-color: #7F8C8D!important; color: #2980B9; border: none; border-radius: 3px; box-shadow: none; font-size: 14px; font-weight: bold; line-height: 26px; moz-border-radius: 3px; text-align: center; text-decoration: none; text-shadow: none; width: 80px; min-height: 80px; background: url(https://artscolumbia.org/wp-content/plugins/intelly-related-posts/assets/images/simple-arrow.png)no-repeat; position: absolute; right: 0; top: 0; } .ufb31d4de988c38cdf022d54f6cb6a9e0:hover .ctaButton { background-color: #34495E!important; } .ufb31d4de988c38cdf022d54f6cb6a9e0 .centered-text { display: table; height: 80px; padding-left : 18px; top: 0; } .ufb31d4de988c38cdf022d54f6cb6a9e0 .ufb31d4de988c38cdf022d54f6cb6a9e0-content { display: table-cell; margin: 0; padding: 0; padding-right: 108px; position: relative; vertical-align: middle; width: 100%; } .ufb31d4de988c38cdf022d54f6cb6a9e0:after { content: ""; display: block; clear: both; } READ: Travel Essay - Trip to the BahamasAccording to Indonesian Government sources, as many as 1.6 million primary and junior secondary school students may beforced to withdraw from school. In real terms, government budgets for health and education have fallen dramatically. Reduction in public spending could act as a further driving force for poverty, reducing basic services to the poor at preciselythe time when the need for them is increasing. The immediate consequences will be registered in the form of reducedopportunities for education and health. In the longer term, public spending cuts could sever the link, which has been establishbetween growth and equity, to the detriment of both. For instance, Thailands economic problems are related to a deepeningskill shortage in sectors vital for the transition to a more diverse and technologically sophisticated economy. Deterioratingeducational performance will undermine prospects for such a transition. ConclusionBased on the analysis given by various sources that we gathered, we conclude that the root cause of the currency crisis inSouth East Asia is due to large inflows in the form of credits and portfolio investment as well as capital through multinationalcorporations, largely came from investors in the Un ited States and Western Europe. The unusual successful economicperformance in the region attracted these inflows into the region. Most of our sources stated that, while these inflows hadpermitted faster growth, they had allowed domestic banks to expand lending rapidly, fueling imprudent investments andunrealistic increases in asset prices. According to Jeff Sachs, the Director of the Harvard Institute for InternationalDevelopment, Thailand, in 1997, overvaluation of the real exchange rate, coupled with booming bank lending, heavily directedat real estate. The overvaluation tended to push new investment towards non-tradable sectors-notably construction awayfrom the tradable sectors that are necessary to provide the wherewithal for future servicing of foreign debts. Several sourcesmentioned that most economies pegged their currencies to the dollar in recent years, even though their trade with theadvance countries was roughly equally divided between the US, Europe and Japan. When the dollar appreciated sharplyagainst the yen and the European currencies after 1995, emerging-markets currencies were pulledalong in its wake made their exports less competitive. Another source, IMF, stated that the key domestic factors that led to theeconomic crisis appeared to have been: First, the failure to dampen overheating pressurethat had become increasingly evident in Thailand and many other countries in the region and were manifested in large externaldeficits and property and stock market bubbles; second, the maintenance of pegged exchange rate regimes for too long, whichencourage external borrowing and led to excessive exposure to foreign risk in both the financial and corporatesectors; and third, according to them, lax prudential rules and financial oversight, which led to a sharp deterioration in thequality of banks loan portfolios. IMF further stated that political uncertainties and doubt about the authorities commitment and ability to implement thenecessary adjustment an d reforms exacerbated pressures on currencies and stock markets. They also blamed the emergingcountries reluctance to tighten monetary conditions and to close insolvent financial institutions as an addition to the turbulence inthe financial markets. Countries like Thailand and Indonesia turned to IMF, the World Bank and other countries for financialassistance but insufficient attention, especially by IMF hasbeen paid to the specific circumstances of East Asia. Their programs have been designed primarily with a view to bailing outreckless international investors and implication of the poor has been left unconsidered. The bias towards deflation and fiscalausterity is not only inappropriate, but also threatens to turn recession into full-blown depression. IMF appliedintense fiscal pressure to those countries such as Thailand and Indonesia where public spending was to be reduced by theequivalent 3 per cent of GDP and 10 per cent of GDP consecutively. Reduction in public spending,for exa mple, was in the form of reduced opportunities for education and health. In Indonesia, for example, according toIndonesia Government source, as many as 1.6 million primary and junior secondary school students may be forced towithdraw from school. George Soros, in his testimony to the U.S. House of Representatives on September 15, 1998, IMF imposed tough conditionson the country concerned but did not imposed tough penalties on the lenders and the treatment on on lenders and borrowersneeded to to be corrected. Chairman Alan Greenspan, in his testimonies before the Committee on Banking and Financial Services, U.S. House ofRepresentatives on November 13, 1997, stated that the recent crises would arguably have been better contained iflong-maturities properties loans had not accentuated the usual mismatch between maturities of assets and liabilities of domesticfinancial systems that were far from robust to begin with. Greenspan advised economic policy makers in Asia to fend offdomestic pr esures that seek disengagement from the world trading and financial system.

Critically Evaluation Of The View That During Times Of Recession And Economic Downturn, Employee Commitment Can Be Assured With A Steady Income The WritePass Journal

Critically Evaluation Of The View That During Times Of Recession And Economic Downturn, Employee Commitment Can Be Assured With A Steady Income Introduction Critically Evaluation Of The View That During Times Of Recession And Economic Downturn, Employee Commitment Can Be Assured With A Steady Income ). Whilst these strategies may be employed, our in interest in this paper is critically evaluating whether employee commitment can be assured with a steady income during such times of recession and economic downturn. A large number of studies have pointed out to the adverse impacts of cost cut measures that include pay cuts. According a Right Management Survey (2010) conducted on North American workers, 60% of the 900 respondents surveyed indicated their intent to leave their current employer as soon as there was an improvement and recovery of the economy. Similar conclusions have been reached upon by subsequent studies across the globe. A recent ORC International research on Australian companies showed a significant decline in employee engagement, with Australian organizations lagging behind other industrialized countries in employee engagement levels (Conrad 2012). The importance of maintaining a stable income to ensure a committed and motivated workforce is further evident in Britain where research has painted a worrying picture of a standstill Britain. In the UK, the level of employee engagement dropped significantly during the recession. According to a quarterly Employee Outlook survey report (2010), employee engagement levels reached an all-time low in the UK, with job satisfaction falling to 35 in 2010, down from 48. These findings have been confirmed by another Global Workforce Study (GWS) by Towers Watson which surveyed 2,628 workers in the UK. The study found 26% of the workers feeling stuck in their role, 40% wanting to leave their current jobs, and a vast majority of 77% arguing that their ability to adva nce their careers had worsened (Towers Watson, 2012). Adding to these concerns, only a third of the workers surveyed thought of their organization as providing good pay and opportunities for career development. Worryingly, 66% felt that there was no clear link between performance and pay, indicating the lack of incentive for motivating the workers (Towers Watson 2012). As pointed out by Yves Duhaldeborde, the head of surveys at Towers Watson, the research paints a worrying picture as workers and businesses reach a standstill with creativity and ambition taking a back seat. The post recession reality is that many of the workers have hit ambition ceiling and are choosing a steady income over creativity and career advancement. Several other studies have shown pay to be the most effective motivator. In their meta-analysis, Locke et al (1980) concluded that money was the most crucial incentive and effective motivator than other incentives. This finding has received support from subsequent researches. However, research on this topic has produced mixed results. Studies arguing against stable income as an effective motivator Contrary to the popular view, some studies have shown that pay is not necessarily an essential motivator. For example, in a survey by Towers Perrin (2005) which identified some of the top ten motivational factors, pay was not listed among the list. Among the top five motivators identified by the survey were: managers interest in the well being of its workforce, challenging work, customer focus and decision-making authority (Rynes et al. 2004). moreover, whilst a large number of studies have shown that recession impacted negatively on employee engagement with most of the workforce worried about layoffs and decreases in their income, new research from Gallup has shown that the fear may not have been as dramatic as publicly pronounced. The Gallup study found that, despite the intense recessionary pressures, employee engagement stayed fairly even and that employees remain confident of a trusting environment during this period (Cabtree 2011). Further, a similar study by Kelly International (2010) found that, contrary to the popular view, employee loyalty increased during the recession period with 52% of the North American work force remaining totally committed to their company. Most of these respondents argued that recession itself were responsible for heightening their loyalty. With the market slowly rebounding, businesses are on track to increase the salaries of their employees in order to retain their top talent. Although the prime focuses of engagement efforts seem to be based on financial rewards, it is not always the case that employee commitment can be assured with a steady income. Most of the organizations today still do not understand how to effectively engage their employees. As reported in a 2009 work survey by Deloitte Company, employees of today value meaningful work, more open communication and connection to the organization more than high salaries. Employees who feel valued and connected to their organization are far more likely to remain actively engaged than slightly higher-paid employees. Whereas the income effect has an impact on employee engagement, its effect tends to wear off over months of discontent. This is further evident in a recent employee engagement survey conducted by WorldatWork in collaboration with the Hay Group and Loyola University Chicago. The survey found a weak relationship between base pay and employee engagement and commitment; compared to intangible rewards, incentives and leadership quality. The study concluded that non-financial rewards had a greater impact on employee engagement compared to financial rewards. Nonetheless, voluminous evidence obtained from several hundreds of studies have found a strong positive correlation between the two. Hence, it can be inferred that during times of recession and economic downturn, employee commitment can be assured with a stable income. Whereas pay on its own may not be sufficient in effectively engaging employees, assuring employees about stability of their income would support the emotional commitment of the workforce. Conclusion Many businesses have often succumbed to the pressures of maintaining the workforce amidst diminishing revenues especially when under intense recessionary pressure. Most companies have often ignored the critical need to ensure that cost cuts are done in ways that support the emotional commitment of the workforce. Such cost cutting measures certainly impact negatively on the workforce, often leading to decreased levels of employee engagement and loss of top talents. Businesses have to take a strategic approach to employee relations in order to retain their top talent and emerge as winners of the talent wars. Cost reduction should thus be done in ways that reinforces company culture and integrates emotional commitment of the workforce with the business imperatives. Before implementing any cost reduction strategies, executives have consider whether such strategies would damage their value proposition to employees, thereby affecting their motivation and commitment which eventually results in disengaged employees. Although some studies have shown that pay is not necessarily an essential motivator and that employees tend to value meaningful work, more open communication and connection to the organization more than high salaries, voluminous evidence obtained from several hundreds of studies have found a strong positive correlation between the two. Based on this analysis, we conclude that maintaining a stable income during such hard times of recession and economic downturn would certainly help to keep engagement levels relatively high. Reference Aon Hewitt, 2013. 2013 Trends in global employee engagement. [viewed on 17th October 2013} available from www.onhewitt.com Aon Hewitt, 2010. 2010 employee engagement survey. Aon Hewitt Firm Bewley, T.F., 1998. why not cut pay? European Economic Review 42, pp.459 490 Bromfield, P., 2008. Energizing employees in recessionary times try motivating, not mandating. Booz Company Cataldo, P., 2011. Focusing on employee engagement: how to measure it and improve it. UNC Executive Development Chartered Institute of Personnel and Development (CIPD), 2006. How engaged are British employees. London: CIPD. Conrad, S., 2012. Driving employee engagement post-recession: best practices for Australian companies. [viewed on 14th October} available from http://blog.halogensoftware.com/driving-employee-engagement-post-recession-best-practices-for-australian-companies Crabtree, S., 2011. The recessions impact on US employees. Gallup Business Journal Harter, J. K., Schmidt, F.L., Hayes, T.L., 2002. Business-Unit Level Relationship Between Employee Satisfaction, Employee Engagement and Business Outcomes: a Meta Analysis. Journal of Applied Psychology. 86(2): 286-279. Hay Group, 2010.The loyalty deficit: the impact of recession on engagement. Hay Group Kelly International, 2010. Employee loyalty rises during global economic recession. [viewed on 18th October 2013} available from http://ir.kellyservices.com/releasedetail.cfm?ReleaseID=450036 Kumar, P. and Swetha, G., 2011. A prognostic examination of employee engagement from its historical roots. International Journal of Trade, Economics and Finance, vol.2 (3) pp.232-238 Locke, E.A., Ferren, D.B., McCaleb, V.M., Shaw, K.N. and Denny, A.T., 1980. The relative effectiveness of four methods of motivating employee performance. In: Duncan, K.D., Gruenberg, M.M. Wallis (Eds), changes in working life, New York: Wiley publishers. Macey, W.H and B. Schneider. 2008. The Meaning of Employee Engagement. Industrial and Organizational Psychology. 1: 3-30. Maslow, A.H., 1943. A theory of human motivation. Psychological Review, 50, pp.370-396 Peacock, L., 2010. Recession over but employee engagement hits all-time low, CIPD warns. [Viewed on 14th October 2013] available from personneltoday.com/articles/26/01/2010/53802/recession-over-but-employee-engagement-hits-all-time-low-cipd-warns.htm Quantum workplace report, 2012. Employee engagement trends report. Quantum Workplace Quarterly Survey report, 2010. Employee outlook: emerging from the downturn? CIPD Reem, Y., 2011. Motivating public sector employees. Working papers no. 60 Rehan, M.F. and Islam, T., 2013. Relationship between organizational commitment and citizenship behaviours. World Journal of Management and Behavioural studies 1 (1), pp.24-32 Schroeder-Saulnier, D., 2010. Reengaging Employees in a Post-Recession World, Best Practices in HR, Robinson, D., S. P. Perryman and S. Hayday. (2004). The Drivers of Employee Engagement. IES Report 408. {Viewed on 16th October 2013} Retrieved from employment-studies.co.uk/summary/ Roche, W.K., Teague, P., Coughlan, A., Fahy, M., 2006. Human resources in the recession: managing and representing people at work in Ireland. Oxford: Routledge Rousseau, D. M. and Tijoriwala, S. A., 1998. Assessing psychological contracts: Issues, alternatives, and measures. Journal of Organizational Behavior, 19, 679-695 Rynes, S.L., Gerhart, B., Minette, K.A., 2004. The importance of pay in employee motivation: discrepancies between what people say and what they do. Human Resource Management, vol.43, pp.381-394 Schneider, B., W.H. Macey, K.M. Barbera and N. Martin. 2009. Driving Customer Satisfaction and Financial Success through Employee Engagement. People and Strategy. 32(2): 22-27 Scott, D., McMullen, T., Royal, M. and Stark, M., 2010. The impact of rewards programs on employee engagement. WorldatWork Tesvich, L.K. And Morrow, C., 2010. HRs challenge: engaging employees post-recession. The Linkage Leader. LKT Consulting, Inc. and Sage Assessments. Tower Watson, 2012. Global study warns of standstill Britain as workers and businesses hit ambition ceiling. {viewed on 14th October 2013} available from towerswatson.com/en-GB/Press/2012/07/global-study-warns-of-standstill-britain-as-workers-and-businesses-hit-ambition-ceiling TOWERS PERRIN, 2005. Reconnecting with employees: quantifying the value of engaging your workforce. London: Towers Perrin Towers Perrin, 2009. closing the engagement gap: a road map for driving superior business performance: Tower Perrin Global Workforce Study 2007-2008 Towers Watson, 2012. Global workforce study: engagement at risk: driving strong performance in a volatile global environment. Wellins, R.S., Bernthal, P., Phelps, M., 2007. Employee engagement: the key to realizing competitive advantage. Development Dimensions International, Inc. Truss, C., Soane, E., Edwards, C., Wisdom, K., Croll, A. and Burnett, J. (2006) Working Life: Employee Attitudes and Engagement 2006. London, CIPD. Critically Evaluation Of The View That During Times Of Recession And Economic Downturn, Employee Commitment Can Be Assured With A Steady Income Introduction Critically Evaluation Of The View That During Times Of Recession And Economic Downturn, Employee Commitment Can Be Assured With A Steady Income ). Whilst these strategies may be employed, our in interest in this paper is critically evaluating whether employee commitment can be assured with a steady income during such times of recession and economic downturn. A large number of studies have pointed out to the adverse impacts of cost cut measures that include pay cuts. According a Right Management Survey (2010) conducted on North American workers, 60% of the 900 respondents surveyed indicated their intent to leave their current employer as soon as there was an improvement and recovery of the economy. Similar conclusions have been reached upon by subsequent studies across the globe. A recent ORC International research on Australian companies showed a significant decline in employee engagement, with Australian organizations lagging behind other industrialized countries in employee engagement levels (Conrad 2012). The importance of maintaining a stable income to ensure a committed and motivated workforce is further evident in Britain where research has painted a worrying picture of a standstill Britain. In the UK, the level of employee engagement dropped significantly during the recession. According to a quarterly Employee Outlook survey report (2010), employee engagement levels reached an all-time low in the UK, with job satisfaction falling to 35 in 2010, down from 48. These findings have been confirmed by another Global Workforce Study (GWS) by Towers Watson which surveyed 2,628 workers in the UK. The study found 26% of the workers feeling stuck in their role, 40% wanting to leave their current jobs, and a vast majority of 77% arguing that their ability to adva nce their careers had worsened (Towers Watson, 2012). Adding to these concerns, only a third of the workers surveyed thought of their organization as providing good pay and opportunities for career development. Worryingly, 66% felt that there was no clear link between performance and pay, indicating the lack of incentive for motivating the workers (Towers Watson 2012). As pointed out by Yves Duhaldeborde, the head of surveys at Towers Watson, the research paints a worrying picture as workers and businesses reach a standstill with creativity and ambition taking a back seat. The post recession reality is that many of the workers have hit ambition ceiling and are choosing a steady income over creativity and career advancement. Several other studies have shown pay to be the most effective motivator. In their meta-analysis, Locke et al (1980) concluded that money was the most crucial incentive and effective motivator than other incentives. This finding has received support from subsequent researches. However, research on this topic has produced mixed results. Studies arguing against stable income as an effective motivator Contrary to the popular view, some studies have shown that pay is not necessarily an essential motivator. For example, in a survey by Towers Perrin (2005) which identified some of the top ten motivational factors, pay was not listed among the list. Among the top five motivators identified by the survey were: managers interest in the well being of its workforce, challenging work, customer focus and decision-making authority (Rynes et al. 2004). moreover, whilst a large number of studies have shown that recession impacted negatively on employee engagement with most of the workforce worried about layoffs and decreases in their income, new research from Gallup has shown that the fear may not have been as dramatic as publicly pronounced. The Gallup study found that, despite the intense recessionary pressures, employee engagement stayed fairly even and that employees remain confident of a trusting environment during this period (Cabtree 2011). Further, a similar study by Kelly International (2010) found that, contrary to the popular view, employee loyalty increased during the recession period with 52% of the North American work force remaining totally committed to their company. Most of these respondents argued that recession itself were responsible for heightening their loyalty. With the market slowly rebounding, businesses are on track to increase the salaries of their employees in order to retain their top talent. Although the prime focuses of engagement efforts seem to be based on financial rewards, it is not always the case that employee commitment can be assured with a steady income. Most of the organizations today still do not understand how to effectively engage their employees. As reported in a 2009 work survey by Deloitte Company, employees of today value meaningful work, more open communication and connection to the organization more than high salaries. Employees who feel valued and connected to their organization are far more likely to remain actively engaged than slightly higher-paid employees. Whereas the income effect has an impact on employee engagement, its effect tends to wear off over months of discontent. This is further evident in a recent employee engagement survey conducted by WorldatWork in collaboration with the Hay Group and Loyola University Chicago. The survey found a weak relationship between base pay and employee engagement and commitment; compared to intangible rewards, incentives and leadership quality. The study concluded that non-financial rewards had a greater impact on employee engagement compared to financial rewards. Nonetheless, voluminous evidence obtained from several hundreds of studies have found a strong positive correlation between the two. Hence, it can be inferred that during times of recession and economic downturn, employee commitment can be assured with a stable income. Whereas pay on its own may not be sufficient in effectively engaging employees, assuring employees about stability of their income would support the emotional commitment of the workforce. Conclusion Many businesses have often succumbed to the pressures of maintaining the workforce amidst diminishing revenues especially when under intense recessionary pressure. Most companies have often ignored the critical need to ensure that cost cuts are done in ways that support the emotional commitment of the workforce. Such cost cutting measures certainly impact negatively on the workforce, often leading to decreased levels of employee engagement and loss of top talents. Businesses have to take a strategic approach to employee relations in order to retain their top talent and emerge as winners of the talent wars. Cost reduction should thus be done in ways that reinforces company culture and integrates emotional commitment of the workforce with the business imperatives. Before implementing any cost reduction strategies, executives have consider whether such strategies would damage their value proposition to employees, thereby affecting their motivation and commitment which eventually results in disengaged employees. Although some studies have shown that pay is not necessarily an essential motivator and that employees tend to value meaningful work, more open communication and connection to the organization more than high salaries, voluminous evidence obtained from several hundreds of studies have found a strong positive correlation between the two. Based on this analysis, we conclude that maintaining a stable income during such hard times of recession and economic downturn would certainly help to keep engagement levels relatively high. Reference Aon Hewitt, 2013. 2013 Trends in global employee engagement. [viewed on 17th October 2013} available from www.onhewitt.com Aon Hewitt, 2010. 2010 employee engagement survey. Aon Hewitt Firm Bewley, T.F., 1998. why not cut pay? European Economic Review 42, pp.459 490 Bromfield, P., 2008. Energizing employees in recessionary times try motivating, not mandating. Booz Company Cataldo, P., 2011. Focusing on employee engagement: how to measure it and improve it. UNC Executive Development Chartered Institute of Personnel and Development (CIPD), 2006. How engaged are British employees. London: CIPD. Conrad, S., 2012. Driving employee engagement post-recession: best practices for Australian companies. [viewed on 14th October} available from http://blog.halogensoftware.com/driving-employee-engagement-post-recession-best-practices-for-australian-companies Crabtree, S., 2011. The recessions impact on US employees. Gallup Business Journal Harter, J. K., Schmidt, F.L., Hayes, T.L., 2002. Business-Unit Level Relationship Between Employee Satisfaction, Employee Engagement and Business Outcomes: a Meta Analysis. Journal of Applied Psychology. 86(2): 286-279. Hay Group, 2010.The loyalty deficit: the impact of recession on engagement. Hay Group Kelly International, 2010. Employee loyalty rises during global economic recession. [viewed on 18th October 2013} available from http://ir.kellyservices.com/releasedetail.cfm?ReleaseID=450036 Kumar, P. and Swetha, G., 2011. A prognostic examination of employee engagement from its historical roots. International Journal of Trade, Economics and Finance, vol.2 (3) pp.232-238 Locke, E.A., Ferren, D.B., McCaleb, V.M., Shaw, K.N. and Denny, A.T., 1980. The relative effectiveness of four methods of motivating employee performance. In: Duncan, K.D., Gruenberg, M.M. Wallis (Eds), changes in working life, New York: Wiley publishers. Macey, W.H and B. Schneider. 2008. The Meaning of Employee Engagement. Industrial and Organizational Psychology. 1: 3-30. Maslow, A.H., 1943. A theory of human motivation. Psychological Review, 50, pp.370-396 Peacock, L., 2010. Recession over but employee engagement hits all-time low, CIPD warns. [Viewed on 14th October 2013] available from personneltoday.com/articles/26/01/2010/53802/recession-over-but-employee-engagement-hits-all-time-low-cipd-warns.htm Quantum workplace report, 2012. Employee engagement trends report. Quantum Workplace Quarterly Survey report, 2010. Employee outlook: emerging from the downturn? CIPD Reem, Y., 2011. Motivating public sector employees. Working papers no. 60 Rehan, M.F. and Islam, T., 2013. Relationship between organizational commitment and citizenship behaviours. World Journal of Management and Behavioural studies 1 (1), pp.24-32 Schroeder-Saulnier, D., 2010. Reengaging Employees in a Post-Recession World, Best Practices in HR, Robinson, D., S. P. Perryman and S. Hayday. (2004). The Drivers of Employee Engagement. IES Report 408. {Viewed on 16th October 2013} Retrieved from employment-studies.co.uk/summary/ Roche, W.K., Teague, P., Coughlan, A., Fahy, M., 2006. Human resources in the recession: managing and representing people at work in Ireland. Oxford: Routledge Rousseau, D. M. and Tijoriwala, S. A., 1998. Assessing psychological contracts: Issues, alternatives, and measures. Journal of Organizational Behavior, 19, 679-695 Rynes, S.L., Gerhart, B., Minette, K.A., 2004. The importance of pay in employee motivation: discrepancies between what people say and what they do. Human Resource Management, vol.43, pp.381-394 Schneider, B., W.H. Macey, K.M. Barbera and N. Martin. 2009. Driving Customer Satisfaction and Financial Success through Employee Engagement. People and Strategy. 32(2): 22-27 Scott, D., McMullen, T., Royal, M. and Stark, M., 2010. The impact of rewards programs on employee engagement. WorldatWork Tesvich, L.K. And Morrow, C., 2010. HRs challenge: engaging employees post-recession. The Linkage Leader. LKT Consulting, Inc. and Sage Assessments. Tower Watson, 2012. Global study warns of standstill Britain as workers and businesses hit ambition ceiling. {viewed on 14th October 2013} available from towerswatson.com/en-GB/Press/2012/07/global-study-warns-of-standstill-britain-as-workers-and-businesses-hit-ambition-ceiling TOWERS PERRIN, 2005. Reconnecting with employees: quantifying the value of engaging your workforce. London: Towers Perrin Towers Perrin, 2009. closing the engagement gap: a road map for driving superior business performance: Tower Perrin Global Workforce Study 2007-2008 Towers Watson, 2012. Global workforce study: engagement at risk: driving strong performance in a volatile global environment. Wellins, R.S., Bernthal, P., Phelps, M., 2007. Employee engagement: the key to realizing competitive advantage. Development Dimensions International, Inc. Truss, C., Soane, E., Edwards, C., Wisdom, K., Croll, A. and Burnett, J. (2006) Working Life: Employee Attitudes and Engagement 2006. London, CIPD.

A Corporate Entrepreneurship Analysis of Sony Essay

A Corporate Entrepreneurship Analysis of Sony - Essay Example The term can be defined alternatively as the development of internal markets and relatively small and independent units designed to create internal ventures and expand innovative staff services, technologies and methods within an organization (Pinchot, 1985). It has been established that successful companies have one thing in common and that is an entrepreneurial style of management (Katz & Shepherd, 2004). Stevenson and Gumbert (1985) attribute the sustenance of a high level of performance by big companies such as Sony and Hewlett Packard to their entrepreneurial behaviour. Company overview Sony corporation is a Japanese multinational conglomerate that originated in the wake of World War II. The company made history after it built Japan’s first tape recorder and named it the Type-G. In 1958, the company changed its name from Tokyo Telecommunications Engineering Company to the present day Sony. The Sony Corporation has diversified its operating scope to cover almost all the ar eas of the entertainment and the telecommunications sectors. Sony Corporation is the parent company of the Sony Group. As the parent company of the group, its main task is to make strategic business plans for the group through research and development, designing, and marketing of products. As pointed out earlier, Sony Corporation has diversified its scope in to most entertainment and telecommunication sectors. The company has done this through its subsidiaries. One such example of the subsidiaries is the Sony Chemical and Information device Corporation which is responsible for manufacturing as well as the engineering and research and development for the mass production of products (Sony Corporation, 2012). According to the fortune 500 2012 list of companies, Sony Corporation is ranked 87th (CNN, 2012). The Sony group not only focuses on electronics, gaming, and entertainment, it also offers financial services. The subsidiary company that is responsible for the financial services bus iness of the Sony group is the Sony Financial Holdings. With its headquarters in Tokyo, Japan, the company controls the operations of Sony Life, Sony Assurance, Sony bank, and Sony Bank holdings. This subsidiary is the most profitable of all of Sony’s subsidiaries accounting for about 50% of Sony’s global earnings (Sony Corporation, 2012). The company was enjoying high profit returns up until early 2000’s when it started experiencing financial difficulties. These financial difficulties were due to several reasons. The first reason was the global financial crisis. The crisis made it difficult for the company to procure materials for manufacturing, cope with debt and maintain its work force. Secondly, the company’s milk cow, the play station, started to face steep competition from rivals Microsoft with their X-box gaming model. With the sales of the play station reducing, the company’s profits suffered similarly. The last main cause of the companyâ⠂¬â„¢s decline in profits was due to natural disasters. Japan has been victim to natural disasters, mainly earthquakes. The company’s headquarters in Tokyo, Japan, was hit by the devastating earthquake and therefore it became financially challenging for the company to make a comeback. The company however made a comeback in December 2011. Though the market capitalization of the company had dropped by over 50%, its net worth had increased from $17.6 billion in March 2002, to $35.6 billion in December 2011. This comeback can be attributed to the entrepreneurial behaviour of the company in promoting innovation and creativity that has enabled the company to realize and

Ismg Essay Example | Topics and Well Written Essays - 1000 words

Ismg - Essay Example itute (2009), globalization as â€Å"a process of interaction and integration among the people, companies, and governments of different nations, a process driven by international trade and investment and aided by information technology.† This means that companies and institutions cannot benefit from global trade and for that matter globalization in the absence of technology and technology tools. To this effect, any company that wishes to benefit from the new trend of globalization must make technology a central part of its operations. With well harnessed information technology system, investors and entrepreneurs will not have to travel from one place to the other in person before they can reach the outside market. The information technology department of Richter therefore has a lot of role to play when it comes to the information technology system of the company. In the words of Salaam (2011), â€Å"information technology is the use of computers and networks to store, process, and receive data.† Richter can however put itself in the challenge to move the benefits of information technology beyond the storage and retrieval of data into an era when the entire development and expansion of the company shall be dependent on information technology. In this essay therefore, the measures that need to be put in place to make Richter appreciate information technology as a whole management procedure shall be discussed. Information technology system at Richter can be described in two major ways. These are As-was and As-Is. These two terms refer to the company’s previous information technology system and its present information technology system. Indeed, in the years before 1992, the as-was system of information technology existed. In this timeframe, there was a disorganized information technology system. This disorganization can be attributed to a number of factors. First, there was no stipulated department that catered for information technology in the company. Indeed,