Should the press be completely free? Under a dictatorship the press is completely under the control of the government. The implications of this are that the authorities discard all stories unfavorable to their policies and supplement the favorable ones with propaganda and disinformation . All this involves control of TV and radio; in many countries, listening to broadcasts such as the BBC World Service, now available everywhere because of short-wave satellite output, is proscribed.
People are not fools, however, and such dictatorship can lead to unrest and produce the opposite to the intended effect. In most democracies, there is a varying degree of freedom. In Britain, for example, the government only steps in during wartime, apart from exerting control over stories which the Home Office regards as dangerous to the national interest, i. e. top security information. In these cases, a ‘D Notice’ forbids publication.
Otherwise, and in peacetime, the press is entirely free to publish at will, subject to the following conditions: the material must be truthful, decent, and compatible with the laws of libel. Libelous material of course sells newspapers and magazines, and certain unscrupulous editors will publish for this reason alone, setting aside money to settle the damages in civil law which will inevitably follow. Much of this is based on a section of the people’s pleasure in seeing prominent people discredited.
For example, Jeffrey Archer was awarded a half million pounds a few years ago because his personal morals were brought into question; Elton John received substantial damages because of a scurrilous and untrue account of the way he was said to treat his pet dogs. The courts now tend to award according to the seriousness of the alleged offence rather than on the prominence of the person concerned. The crux of the matter is whether the story is true. David Mellor, a prominent secretary of state, recently had some aspects of his personal life exposed.
He did not challenge the stories, and chose to resign on the tacit admission that his lack of judgment precluded him from parliamentary office. A story may be defamatory, but if it is true there is nothing to stop its publication. This is the basic test on which most editors take their decisions, and logically there is no challenging this principle in a democracy. However, there are two classes of reporting in the British tabloid press which have incurred much public displeasure in recent years.
The first is the invasion of privacy. After some disaster, those closely concerned are often hounded by the press for human stories . This amounts to an unwarranted intrusion into private grief. The more distressed the interviewee the less he or she is spared. The second is the gathering of newshounds, the paparazzi , with their long-distance telephoto lenses, their listening devices and their phone-tapping proclivities. These reporters dog the footsteps of very prominent people, such as the British royals.
It so happens that two royal marriages have recently come on the rocks , with close friends of both parties involved in each case. For some weeks these stories sold millions of extra copies of the tabloids. There was much criticism in parliament, but nothing could be done; the stories were not denied. The editors claimed the right to publish on the ground that the stories were true, whatever methods were used to obtain them. Perhaps decency is the other issue.
Some men like looking at nude women, and no doubt the regular ‘Page 3 girl’ sells many copies of the tabloids. The editors know exactly how far they can go without incurring the laws against pornography. In Britain, complaints are heard by the Press Council, a self-governing but rather toothless body. Today there is a strong move to tighten controls by legislation, particularly in the case of infringement of privacy, and over the methods used to obtain information, particularly trespass.
However, in any society there is always a demand for the sensational, and in a democracy repressive legislation is unwise. Part of the health of a good system lies in editorial freedom to criticize or applaud, and nobody should be exempted. After all, if there is nothing to bring into the open, there is no story. On the contrary, if there is real corruption, as in the cases of BCCI or Robert Maxwell, the press does the public a service by exposing the details.
Jacobs Division descriptive essay help: descriptive essay help
After completing the analysis and reviewing the NPVs and IRRs for each option, labor intensive and capital intensive, Soderberg should recommend that the Jacobs division move forward with production of Silicon-X using the labor-intensive option. The NPV and IRR methods make the same decisions if used for independent projects however, since these projects are mutually exclusive, the best NPV option should be used.
In this case the NPV for the labor-intensive option is positive at twelve percent, sixteen percent and twenty percent while the capital option is only positive at twelve percent and sixteen percent. The labor-intensive option meets the expectations for both the company guidelines and Mr. Reynolds’ personal guidance for the Jacobs Division. The company guidelines state that a return of sixteen percent for new products or processes is expected and Mr. Reynolds guidance is that he “tended to look for at least 4 percent more than the company standard before becoming enthusiastic about a project. With the labor-intensive option, the Silicone-X project should be undertaken. One of the key advantages that weigh in favor of undertaking the Silicone-X project, outside of the NPV evaluation, is that with the labor- intensive option, Silicone-X could be on the market within a year. With the capital-intensive option the plant will likely take “two years to get the plant on stream, and the first year’s operating volume was likely to be low-perhaps 700,000 pounds at the most. ” So, with the capital option plant, the first two years would have zero production and the third year would have almost two thirds the plant as unused capacity.
Soderberg states that he is unsure of the demand for Silicone-X and indicates that the demand could be as low as 500,000 pounds and as high as 2 million pounds. In the event that Silicone-X only generates demand of 500,000 pounds, the remaining two thirds of capital-intensive plant is wasted capacity. For the labor-intensive plant, if demand should drop, personnel could be laid-off reducing costs. The problem arises with the labor intensive plant if demand exceeds 1. 5 million pounds.
In the event of increased demand, increased production needs can be addressed with additional shifts or instituting a seven day operating schedule with three operating shifts. In both the labor-intensive and capital-intensive options, the break even point at a per pound price of $1. 90 will likely occur in the first year of production which as stated earlier will occur within a year of the decision to move forward with Silicone-X. The labor-intensive option break even point is at 540,000 pounds which will likely be accomplished by the end of the first year of production.
By contrast, the break even point for the capital-intensive option will be at 325,900 which, even in the best scenario, will occur a year after production would start at the labor-intensive plant. Soderberg is concerned with the introduction of competition and the pricing for Silicone-X. In industry, it is best to be first to the market with your product, and if this is not possible, then your product should be superior. In the case of Silicone-X, there is no patent protection and there is no foreseeable product that is superior, it is important that the company that manufactures this product for sale be first to the market.
In this case, competition will likely take a year to gear up after the introduction of Silicone-X giving the Jacobs Division two years of competition free sales. After the initial 540,000 pounds, the remaining sales are profit. In the event that this product does not excel in the market place, the initial capital outlay for the labor-intensive option would not be lost as this equipment is very adaptable. This is not the case for the capital-intensive option, where this equipment would likely be sold at a significant loss.
From the information presented above, the labor-intensive option is the best path forward for the production of Silicone-X. There is little risk with moving forward with this project as the equipment could be used elsewhere within the division if this project should fail. Additionally, competition would not be an issues as the break even point for the labor-intensive option will occur in year one and competition will likely take an additional year to prepare a plant for production, two years if they use a capital intensive plant.
The labor-intensive plant meets the NPV expectations set by the MacFadden Company guidelines and the expectations laid forth by the head of the Jacobs Division, Mr. Reynolds. Since the labor-intensive option meets both of these expectations, Soderberg should move forward with the recommendation for the labor-intensive option. 2. If the project goes forward, should the labor-or capital- intensive plant be used to produce it? Now assuming that the project goes forward, one of two choices must be made regarding the plans for the plant. Either the company designs the labor-intensive or the capital-intensive plant.
Both have positive and negative aspects, but the labor-intensive plant seems to be the better of the two choices. This is not an obvious choice, so it is necessary to compare the pros and cons of both plants in order to come to a legitimate conclusion. First, it is important to look at what types of products are currently being manufactured within the Jacobs Division. Jacobs Division specializes in producing a wide variety of products, none of which make over $5 million dollars. Typically this division sells smaller amounts of a product, because they do not concentrate on one chemical as do the other divisions of MacFadden.
The labor-intensive plant is closer to Jacob’s typical model type, because it would produce a smaller amount of chemicals, initially 1. 5 million pounds, while the capital-intensive plant would produce 2 million pounds per year. The cost to expand is one of negatives of the labor-intensive plant, as compared to the capital-intensive plant, but large expansion does not seem to be the trend if we look at Jacob’s history. Another big factor in deciding which plant to use is to consider who will be making the final approval in deciding whether or not the product goes forward. Mr.
Soderberg should target his proposal towards Mr. Reynolds, the division manager. This division is presently one of the most successful of MacFadden, and much of its success is attributed to Mr. Reynolds, so it would be wise to choose the plant that most closely fits his criteria because due to his success, Mr. Reynold’s standards should be given respect. Mr. Reynolds has set very high standards for his products, expecting a return of 20% percent for new products. When Mr. Soderberg did an analysis on the two products with a 20 % return, the labor-intensive plant was a positive value, while the capital was negative.
Soderberg knew that this analysis would be unacceptable, so he would have to somehow manipulate the data in order to get approval from Mr. Reynolds. It is important to acknowledge that at an 8 percent rate, both plants have a good return, but capital’s is significantly better. The labor-intensive model would meet Reynold’s approval at both the 20 and 8 percent return, while the capital-intensive would only be acceptable under the 8 percent rate, making it a difficult sell for Reynolds to accept. It is also necessary to look at the results if the product failed.
The labor plant would be able to reuse its equipment in other productions and the loss would not be too significant, while the capital plant would not be able to reuse most of its equipment. Being able to reuse equipment is something that would be very useful in a division that produces many products, because there may be an immediate use of the equipment which could be used to start producing a profit. There are two unknowns that make this decision very difficult – predicting demand and predicting competition of which there are only educated guesses.
Under the labor plant, a low demand is best for the following reasons. As stated earlier, the labor plant will only be able to produce 1. 5 million pounds of Silcone-X each year, and the cost to expand the plant will be costly. Labor also cannot handle competition because its cost of production is too high to lower the $1. 90 price. The plant can be ready in one year which will give the division a better chance to get ahead of the competition, since there is no patent on Silicone-X. The capital plant will be able to produce 2 million pounds each year, and the plant would be capable of expansion at a cheaper rate.
Because its cost of production is lower, it would be able to lower its prices to discourage any competition. This plant would take two years to be operational, and it would only be capable of producing 700,000 pounds its first year which might leave an opportunity for competitors to get ahead. Demand and competition will determine the success of the product, so these factors present the greatest risk. At this point, Soderberg needs to utilize the predictions made by the market researchers.
Concerning competition, the researchers doubt that the product could be developed cheaper or better, and demand is predicted to stay within demands of 500,000 to 2. 0 lbs per year. Again, it seems that labor is still the better choice, because this plant would be ready to go within one year and would be able to meet close to the highest predicted product demand. The biggest risk in this scenario is if other companies try to compete by selling the product at a lower price, because if the product simply tries to break even and the price drops, labor would have to produce 900,000 lbs. f product while capital would only need to sell 540,000 lbs. But on the other hand, the capital plant might invite competition more readily as it would take a longer time to begin producing plus it could be significantly short of meeting the demand for the first year which may cause buyers to search for other alternatives. Either choice is definitely a risk, and either one has the potential for success or failure depending on what happens in the market and economy. Soderberg himself felt that many of conclusions were no better than guesses.
In fact, he was very concerned that the labor plant left out too many factors. But even if the labor-intensive plant does not comprehensively cover all possibilities, it still presents itself as the better of the two choices. 3. How should management think about the pricing decision and its effect on the attractiveness of Silicone-X? The pricing decisions by management should hedge against risk and provide flexibility for production because priced at $1. 90 and anticipated sales hitting $3 million, Soderberg’s analysis predicts competition.
Though there are management philosophies in place, Jacobs is a ‘non-traditional’ division in comparison to its peers as will be discussed below. Understandably, good management will seek to maintain shareholder value—long-term endeavors can hurt short-term performance—but with limited information on demand estimates and an outlay of strengths, weaknesses, opportunities, and threats, we believe competition risk and production flexibility should be taken into consideration. For instance, Reynolds wants better returns than corporate requirements because 1. key variable in appraising management performance at MacFadden was the growth of residual income (Reynolds did not like the idea of investing in projects that were close to the target rate of earnings imbedded in the residual-income calculation; 2. ) many new projects have high start-up costs even though they might achieve attractive returns over the long run, such projects hurt earning performance in the short run; and 3. ) Reynolds believes estimates are overstated by 2-5% so looks for returns at least a 4% more than the company standard before becoming enthusiastic about a project.
On the other hand, the Jacobs Division is a subsidiary of MacFadden, the newest organization with the greatest sales and smallest division. Jacobs is non-traditional to MacFadden’s other divisions in that it is not centered around a particular chemical that its products are specialty industrial products with various chemical bases sold in relatively small lots to diverse industrial customers. This in itself diversifies Jacobs’ outlet to a wide variety of consumers and should encourage projects that meet corporate requirements (does Capital Intensive meet requreiments??? , but not necessarily Reynolds’. Finally, market research, though unable to gauge the most probable applications for consumer groups, believe that once Silicone-X becomes established, the average demand would grow at a healthy rate leveling off after 8-10 years. In this case, the model will need flexibility to meet increasing demands. Even in the case of loss, tax write-offs and some salvage value are safeguards to recovering from project failure. Neither models are risk-free, but the Capital Intensive model most closely compensates risk and reward. SWOT Analysis Labor Intensive Model
Strengths: 1. ) Lower start-up costs; 2. ) Faster recovery of equipment outlay, tax write-offs an option should project fail (according to Soderberg, start-up costs and losses are the real risk) Weaknesses: 1. ) Limited production capacity of 1. 5 million pounds a year; debugging costs $50,000 ; 2. ) needs 540,000 pounds of sales to break even (vs. Capital Intensive – 325,900) Opportunities: 1. ) Positive present values compared with negative present values of 20% and 8%, looked attractive; 2. ) Will work well only if demand is low and provide a higher rate of return
Online Retail buy argumentative essay help: buy argumentative essay help
With the corporate world going more busier with greater work load and higher packages, you like jobs that are not very important for you to be done by someone else, so that you devote your time on things which are close to your heart or important for you. Shopping FMCG products like soaps, detergents, tooth paste, packed food items, shampoos, oils, kitchen products and other household products are some of them that one would like not to spend their valuable time when they have other important works to be completed. People generally know the items that they need and they have to buy it on a regular basis.
It takes considerable amount of time shopping for these items in a traditional way and even with retail chains, where considerable amount of time is taken in searching for the products, billing process and product verification according to bill. To make this task simple we have come out with a concept of online selling and home delivery of products. Consumers have to visit our website where various products information will be available. They will be provided with a facility to buy it online in a shopping category of our website.
They can directly go to this particular section and make the list of products they want to buy which are categorised according to product types available through drop down menu which they have to select and the quantity they want. The rest of the billing process will be done automatically. They only need to finally pay the final amount either online or personally when the product is delivered to them. Once the order is received from the customer the executive of that area is automatically prompted to see at the request.
We will have collaboration with local retail shops who can give huge discount to us on regular basis. So once the order from a particular locality is received, the executive at our local office makes contact with the retail shop and communicates the order and gets the order to be made ready. The executive then informs the delivery boy and provides him with the duplicate of the bill which he has to get it signed from executive once the products are delivered to the customer. The retail shops meanwhile can be ready with the products. Innovation Quotient:
This model is not available in this product category and more over we provide the service of home delivery. This is entirely a new concept for FMCG products which the existing business models have not been able to tap. Moreover, there exists a huge market for this kind of selling concept. Our target customers are busy people who start for work early in the morning and come late in the evening. However attracting customers from other segment would be an additional advantage. Thus our target market and the customers are entirely new concept which has not been tapped yet.
With the increasing number of internet users and busy lifestyle shopping FMCG products from home would be next big thing. The Market/ Target Segment: Today, the percentage of internet users in India is 7% or about 49. 4 million. Of these 82% are from urban areas. FMCG sector in India has a market size of US $13. 1 billion which is expected to grow by 60% by 2010. This simply shows the future prospect and the opportunity of this market. The target customers are working professionals- singles or couples (where both of them are working).
This concept could be applied for metro cities where the percentage of internet users is more and has the right kind of atmosphere for our business to flourish. Cities like Delhi, Gurgaon, Noida, Pune , Mumbai, Chennai, Ahmedabad, Hyderabad, Kolkata have better market for this business plan. The working professional in such market are normally busy and the traffic congestions adds to their woes which makes an opportunity for our business model to grow. Why Venture? As a business enthusiast we like to venture out on idea which would give us an opportunity to make a place in the market.
As a starting firm we would not have an advantage over existing market segment or existing business. And entering in the already existing field would make it difficult for us to gain the market. However, this idea of would provide an opportunity for anyone to create a market in the chosen field- a good idea to venture on. More over this would provide an employment opportunity for others whom we plan to employ. And rather than taking job if we can give job to someone we would feel more privileged and good about actually giving creating a job for someone and an earning source for a family.
Enrollment System essay help services: essay help services
All the course details are drawn directly from the student information system and displayed on our website. This minimises work as the data only needs to be entered once and ensures that the course details advertised to students match the courses when they come to enrol. Intended outcome: While in funding terms the college is medium sized, the number of student enrolments is equivalent to many much larger colleges so the administrative overhead in processing enrolments is relatively high compared to income and this makes any way in which this process can be streamlined particularly attractive.
Main body of content: Online Enrolment Our first online enrolment system went live a couple of years ago and consisted of a web based form for students to enter their details and select courses from KIPS. The form was emailed internally and then students were called back to take their credit card details over the phone. This worked around the technical complexities of taking payments online, but more importantly, allowed a manual check on whether places were available and a conversation to confirm which fee should be paid.
Most of our courses have three fees, the standard fee, a concessionary fee for students receiving benefits and a “full cost” overseas fee. This was a “pseudo” online enrolment system in that the transaction was not actually completed online. However our research indicated that while a number of colleges appear to allow online enrolment, nearly all of them actually work in this way. Online Payment While this system was a benefit to students, it still involved administrative work, especially if students were not available to call back, so we needed to implement a full system which included online payment.
However, over a year later, no more than a couple of colleges were doing genuine online enrolment. At least one had tried but withdrawn their system due to problems linking to curriculum and charging the correct fees. This was clearly going to be a challenge. There were three big issues to overcome: – – the technical one of taking payment online and linking this into KIPS and the details the student enters keeping an accurate count of places available, given that this is not just an online system, but students are simultaneously enrolling in person and by post assessing which fee the student should pay –
Capita have an online enrolments system which we assessed last year, but agreed it was not suitable for our requirements: – KIPS was a mature system and giving us much more detailed control over which courses appeared on the website and how they were presented than the Capita system offered. We needed to do online fees assessment. We have a high proportion of students paying concessionary fees and it would have severely limited the benefits of the system if it could only cater for those students paying the full fee. We wanted to maximise the number of students who could enrol online, to free up resources at enrolment time.
The Capita system requires students to go through a registration process on the website before they can enrol, including setting up a password which they then have to remember. We felt that this presented too much of a barrier. In our system, students are asked to provide their student number for matching with their existing record if they have one, but are not forced. – – So we opted to develop our own, building on our existing KIPS. Requirements analysis and specification were done internally and we outsourced the development.
We also wanted to use the system for data validation, as UNIT-e only incorporates minimal validation in its data entry forms as standard. The new system has much more “intelligence” and is able to do fees assessment online and charge the appropriate fee – concession, full or overseas. It also intelligently asks questions according to previous answers – e. gg it only asks the ESF questions if the student has chosen an FE direct course. We thought carefully about how full courses should be handled. We could simply show courses as full on the website, so that they do not attract enrolments. But his is undesirable because students would simply go elsewhere and we would never know that we had lost them. We need to capture all the interest in a course, so we can offer students alternative courses or possibly run an additional course for them. Plus, knowing that interest exceeds places available is valuable for planning. However, in doing this, we must avoid frustrating students by collecting full enrolment details and only then telling them that the course is full. The balance struck is that we collect minimal personal details, before showing whether there are places available on the selected course.
The system takes credit card payments via a payment service provider, Protx; these are transferred to Barclay’s online services then into our bank account. This has been one of the most complex projects undertaken and it has been challenging. Not least the many stages of testing we have to undergo before being accepted by Barclays and Protx as an online business. To the best of our knowledge, no other college has a system like it – although a handful of other colleges take online payment, they only do so for students paying full fees.
In outline the stages are: 1. Student selects course 2. We ask for initial details so we can record all interest in courses 3. The system displays which occurrences have places free 4. If there are free places the student can proceed with enrolment 5. The enrolment dialogue varies according to the type of student and the type of course 6. Credit or debit card payment is taken via Protx 7. The enrolment details are recorded in the online enrolment system database. Phases Phase 1 – In the first phase upload of the enrolment data into UNIT-e is manual.
It is not practical to upload data directly into the UNIT-e database. Firstly, this would create many duplicate records. Secondly the database model is very complex, so it is not feasible to maintain data integrity without entering data through the UNIT-e interface. In addition, the detailed information collected by our current enrolment form doesn’t exactly reflect the data fields available in UNIT-e, which we must resolve before an electronic upload is possible. Even so, it is still a major advantage over data entry of handwritten enrolment forms.
There are no problems reading handwriting and data has been prevalidated. In practice it is not difficult keeping up with data entry alongside personal and postal enrolments. We are only expecting this to be an issue in the peak rush prior to September (2006) and by when we plan to have Phase 2. Phase 2 – In the second phase, we will upload enrolments into UNIT-e using Capita’s back end for their own online enrolment system. This still requires a manual checking process to link new enrolments to existing student records, but data upload is then electronic.
Capita are currently making major changes to both the UNIT-e interface and the database structure which will be released later this year. We must wait for this to be available because there is no point building an interface before then. Key Outcomes: Benefits and issues Benefits Building our own form has enabled us to incorporate validation rules which apply as the form is being completed, which ensures invalid data is not entered in the first place and so reduces the work removing errors before funding returns can be done.
In addition to the obvious benefits to students of offering a remote online enrolment service, we are starting to use the system in additional ways: – To collect overseas fees where the students are in different time zones and it is hard to contact them To offer “self-service” enrolment from computers within the College for students who might not have web access and who would normally have to queue up. This will be especially valuable at peak enrolment times.
For interview courses, where the student cannot do a direct enrolment, they can still pay online after they have been offered a place. – – Issues We have really had only one technical glitch, the system initially “failed unsafe” if enrolments occurred while the updating of available places from UNIT-e was in progress. That is, it defaulted to places available, when it should have shown full or busy. But this was spotted quickly and only resulted in about 20 over enrolments.
The maximum number of places for each occurrence of each course must be up to date and accurate in UNIT-e. While maximum places were already populated, it had not previously been very important, because reception staff knew the curriculum and would not over enrol courses, even if maximum places was blank or wrong. Online enrolment is not so clever! The online system is very quick to fill places for courses with heavy demand.
For example, if a student is being transferred, online enrolment would immediately grab the place when it became free, before the first student on the waiting list could be added. We operate concessionary fees by students agreeing that we can charge the full fee if they don’t produce proof that they are entitled to the reduction. This is a new way of working and procedures for charging the extra need smoothing.
In fact this issue has been more related to overseas students incorrectly paying home fees than concessions. Conclusions and recommendations: Overall, given how far ahead we seem to be and that we have not experienced the problems some other colleges appear to have had, we are well pleased. Please give our system a try – www. kcc. ac. uk – choose a course which allows direct enrolment, you can go through the entire enrolment process and just back out at the payment stage.
The Cause and Effects of Inflation scholarship essay help: scholarship essay help
Most people are aware that inflation is a continuing rise in the general level of prices, but it is also important to know the causes and effects of inflation as well. It is also important to understand that inflation is self-sustaining and can act as a snowball effect. Consumers expecting a rise in prices may increase spending, causing the market prices to rise. In the periods of higher prices, producers may be more inclined to increase wages and other costs, because these higher costs can be passed on to the consumer in the form of increased prices.
These higher prices become the basis for further increases in production costs and higher prices, and the snowball effect begins. Inflation has a huge effect on our economy as it affects the distribution of income, the allocation of resources and the output of resources. These three effects are the major effects of inflation and are generally referred to as Equity effects, Efficiency Effects, and Output Effects. Equity effects generally refers to the alteration in the distribution of income. This alteration can cause harm or good, depending on the particular individual and their source of income.
An individual on a fixed income may be harmed by inflation as they are losing some of the value of their salary. Their purchasing power is reduced because their $25,000 salary will not buy as much as it did previously because the prices of goods and services has increased, while their salary has remained the same. Savings bonds and other fixed money can also be hurt by inflation as well. On the other hand, those who depend on income in the form of profits may benefit. Business owners and owners of stocks may see this if the rate of profits rises faster than the rate of inflation.
Efficiency effects involve the changing of resource allocation. Because inflation increase demands for goods and services the supply for these goods and services are also increased. Also, inflation causes people to make adjustments to their from of money, as income held in the form of money tends to lose value with inflation. The time spent on this adjustment causes a reduction in economic efficiency. Output effects of inflation are usually seen as increased production and employment due to an increase in real profit income for business owners due to the price increases usually staying ahead of wages.
Because of this, inflation is said to stimulate the economy as business owners increase employment to make up for this increase in production that occurs with inflation. The Federal Reserve Board, which has a certain amount of control over all banks, has several ways with which it can control inflation. The three main policies that the FED uses to influence money growth, which influences inflation are the Required Reserve Ratio, the Discount Rate, and the Open Market Operations. The Required Reserve Ratio is the ratio of reserve that banks are required to maintain.
When the FED wishes to slow money growth, which tends to slow inflation, it would raise the reserve requirement. This usually tends to have banks lend out less and decrease loans, which causes less spending in the economy as less there is less money being borrowed by consumers. On the other hand a decrease in the Required Reserve Ratio would have the opposite effect as banks would not have to hold as much in reserves, which would lead them to increase loans. This increase in loans would increase money available for consumers, which would increase pending. The discount rate is another policy implemented by the FED. This is the rate of interest that the Federal Reserve Bank charges when it loans out money to other banks. When this interest rate is increased, banks will tend to borrow less from the FED, which as a result decreases their reserves. Banks in turn raise their interest rates on loans because of this, which leads to less loans being taken out by consumers. Less loans taken out b consumers means less spending, which slows the money growth, which slows inflation.
On the other hand, if the FED was to lower its Discount Rate, banks would increase the amount borrowed, keep a higher reserve and set interest rates for its loans lower. As a result, consumers would spend increase borrowing and increase spending as well, which in turn, would increase money growth and increase inflation. The last major policy of the FED is Open Market Operations. This policy is where the Federal Reserve Open Market Committee buys and sells Federal Securities. When an Open Market purchase is made, the FED is buying Federal Securities from banks or from the public, which causes banks excess reserves to increase.
This increase will cause more loans to be made by the banks, which in turn increases the money supply. The FED can also have an Open Market sale, in which it sells Federal Securities. The result of this is a decrease in excess reserves and results in banks lending less, which reduces the money supply. Overall inflation has a big impact on our economy, and can have great effects, which may be either harmful or helpful. With the Fed’s policies, a certain amount of limited control has been set over inflation and can be adjusted to fit the FED’s goals. ics paper
Mis Auto Industry essay help tips: essay help tips
The auto industry is known for tough competition and fickle customers. Survival depends on bringing new models rapidly to market as economically as possible. A Management Information System (MIS) uses computer-based information systems to make data flow seamlessly among different parts of the organization; streamline work flow; and create electronic linkages with customers, suppliers, and other organizations.
For the auto manufacturer, MIS helps automate and streamline all of its daily business operations, gather sales data, adjust deliveries of parts; and assists production units to make exactly the right amount of vehicle models, color, and option packages which are actually selling in dealer showrooms. In short, MIS helps the auto manufacturer to anticipate the quantum and the type of new vehicles to manufacture. MIS also helps the auto manufacturer to deal with its inventory of parts.
The output would consist of orders to suppliers specifying the quantity of each part or component that was needed and the exact date each part was to be delivered to the auto manufacturer’s production facilities to produce the vehicles that customers have ordered. The system provides meaningful information such as what models, colors, and options are selling in which locations; the most popular models and colors; and which dealers sell the most cars and trucks. MIS helps the auto manufacturer to design new vehicles much faster and remain competitive, agile and adaptive to customer demands.
For the customer, MIS is all about receiving a good pre-purchase experience, good after-sales service and ultimately customer satisfaction. From the moment, the customer decides to purchase a particular model, the dealer is able to tell him/her if the model is available in the option he/she would like and when it can be delivered; and in some instances even provide customization according to a customer’s specifications. After the sale, a customer sending in his car to the service centre would be able to see its past history i. e. hen a part was replaced, and which part is in need of replacement or service soon. For the dealer, a well-developed Customer Relationship Management (CRM) type of MIS creates a better dealer-customer relationship. This encourages repeat purchase and brand loyalty. MIS empowers the dealer to monitor and to respond instantly to changes and to meeting the demands of a customer, to remain competitive, efficient, and profitable. Once a sale is closed, it is entered into the system. The process is immediate, cuts down on paperwork and wastes no time.
This allows the salesman at the dealer to ‘move-on’ to the next customer faster without any ‘down-time’. MIS is also able to help a dealer in cutting down overhead expenses with a lower head-count in staffing. The auto industry (and almost every industry) relies on information systems every day to conduct business – to survive and prosper. Survival and even existence without extensive use of information systems is inconceivable. It is a foundation for business in the twenty-first century. Where a business would like to be in five years into the future often depends on what its systems will be able to do today
Lives of Women in the Colonial Era (Before 1700) argumentative essay help: argumentative essay help
Between the early 1500’s and year 1700 North America endured the Colonial period. Many of British, Dutch, French, Spanish, and Swedish descent began establishing separate colonies in North America. The main reasons for the new settlement were land, work, and religious freedom. This period of time was life changing for most settlers, but was distinctively a unique experience for the Colonial women. If anything, the life of a Colonial woman was definitely not simple. Most homes of the Colonists were small and consisted of little protection, and diets were far less than perfect.
Also during this time period many illnesses arose to children specifically. This was very difficult on Colonial mothers. While the Husband would work all day, the wife would of course take care of the children, cook, clean, and perform other household tasks. Even though the Colonial women received no pay the role they played, this role was definitely hard work. For the majority of this era most women could not read or write. In some cases women didn’t even get the luxury of choosing their own husband. In these cases, their fathers chose whom they would marry.
Women were expected to be obedient to their father until they married, then the primary obedience transferred to their husband. Colonial women went through many difficult times, and still had difficult lives but as the colonies grew more and more established, the restrictions on these women began to gradually yet slowly lessen. Because women evidently outnumbered men during this era, Colonial women could be a bit pickier when it came to finding a spouse than the men could. As a result of that, women would often marry men that would give her the most benefits.
Although these women would receive benefits from a marriage, there was also a downside to it. Once a woman married, her legal existence was basically removed. They often couldn’t even divorce their husband seeing as they didn’t have any legal rights under the law as a married woman. So if interested in having a place in the legal system, North American Colonial women were better off staying single even though it was frowned upon. One of the main roles of a Colonial woman was to make useful items out of raw goods.
Food candles and clothing are some examples of the items women would produce. They were also expected to educate their children and manage all daily household activities. Women spun, wove, and stitched all of the clothing in their household. In the very little time that these Colonial women weren’t performing household tasks, they would take part in hobbies such as painting, embroidery, and charity work. The lives of Colonial women were clearly inferior to those of the men, but by the Colonial era, the average women had still come a long way from being a complete slave to men.
Women were slowly beginning to have more of a say in things, as well as a change in societal expectations. Though they were limited to few choices, they were still progressing. Anne Hutchinson is an example of one of the rare, outspoken women during the Colonial era. She wasn’t afraid to speak her mind. Hutchinson lived from 1591 to 1643, and didn’t necessarily fly under the radar during this time period. She had strong religious ideas, and led others who had the same ideas. Those opposing her religious views actually accused her of being Anti-law, undermining authority, and overemphasizing salvation by grace.
Being the strong-willed woman that she was, Hutchinson fought back by accusing her opponents of Legalism, which is overemphasizing salvation by works and rules. Hutchinson believed that individual consciousness was far more important. Hutchinson is known by her emphasis on individual consciousness, an example being when she states, “The power of the Holy Spirit dwelleth perfectly in every believer, and the inward revelations of her own spirit, and the conscious judgment of her own mind are of authority paramount to any word of God. ” (Hutchinson 1).
Further, she states “He that denies the testament denies the testator, and in this did open unto me and give me to see that those which did not teach the new covenant had the spirit of antichrist, and upon this he did discover the ministry unto me; and ever since, I bless the Lord, he hath let me see which was the clear ministry and which the wrong” (2). The men of the Colonial era absolutely received props for the success of the shaping of the colonies. What not many people acknowledge though, is the important roles that the women of the era played in the economic success of mainly the New England colonies.
Report on Sap for Fmcg Industries essay help writing: essay help writing
A fundamental lesson of the past two years is that the market is unpredictable. The deterioration in the global economy left many finance executives scrambling to improve costs and reprioritize budgets. Businesses that continue using traditional static budgeting and planning processes can miss opportunities and emerging risks may go unnoticed. The most susceptible are small to medium size enterprises (SMEs) that account for over 90 percent of all businesses.
In the current high-stakes economic climate, consumer goods and services companies face unprecedented challenges and extreme financial pressure. Increasing competition from companies around the world creates a need for tighter linkage among strategy, performance metrics, and shareholder value creation. Intensified scrutiny from financial markets means you need to more effectively allocate capital toward opportunities that create value. Only with accurate and actionable information can you improve decision making on both short-term operational issues and long-term strategic choices.
To gain control of your operations in these uncertain times, you need an effective enterprise planning approach that helps you understand the drivers of value creation within your company. Thus, you need fully integrated tools and processes that employees across the enterprise can use to create a consistent, coherent view of performance and help mitigate risk, all while optimizing spend and profitability management. What’s more, to keep pace with dynamic business conditions, you need a solution that helps you plan adaptively and adapt your plans flexibly.
Consumer products companies are facing fierce competition in emerging markets, increased costs for raw materials, and a continuously changing business landscape. As a result, the ability to make operational decisions for product introductions, supply chain changes and to manage profitability is more critical than ever to achieving success. To maximize the efficiency of their performance management processes, many leading consumer goods and services companies are turning to SAP. SAP was rated a leading software vendor for the consumer products industry in the Consumer Goods Technology (CGT) 2010 Readers’ Choice Survey.
Industry decision makers recognize that SAP’s customer-centric approach helps them run their companies by delivering flexible, integrated and readily deployable business solutions that enable them to become more consumer-driven and drive profitable and sustainable growth. In its 10th year, the CGT survey is considered the premier resource for consumer goods executives that are evaluating future business and technology investments. Across ten categories, CGT subscribers identified the solution and service providers they value and use the most.
The list in each category is derived from the feedback of executives from consumer goods companies of all sizes. The survey recognizes the leading providers across categories including customer relationship management, supply chain planning, trade promotion management, enterprise resource planning and more. The comprehensive suite of applications from SAP, integrated with leading business support and analytical software, enables consumer products manufacturers to optimize critical end-to-end business processes – and achieve business goals.
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You may now be curious to know how psychologists study these phenomena. In other words, what methods are used to study behaviour and mental processes? Like all scientists, psychologists seek to describe, predict, explain and control what they study. For this, psychologists rely on formal, systematic observations to address their questions. It is the methodology that makes psychology a scientific endeavour. Psychologists use a variety of research methods because questions about human behaviour are numerous and all of them cannot be studied by a single method.
Methods such as observation, experimental, correlational research, survey, psychological testing and case study are more frequently used to study the problems of psychology. This chapter will familiarise you with the goals of psychological enquiry, the nature of information or data that we collect in psychological studies, the diverse range of methodological devices available for the study of psychology, and some important issues related to psychological studies.
Like any scientific research, psychological enquiry has the following goals: description, prediction, explanation, and control of behaviour, and application of knowledge so generated, in an objective manner. Let us try to understand the meaning of these terms. Description : In a psychological study, we attempt to describe a behaviour or a phenomenon as accurately as possible. This helps in distinguishing a particular behaviour from other behaviours. For example, the researcher may be interested in observing study habits among students.
Study habits may consist of diverse range of behaviours, such as attending all your classes regularly, submitting assignments on time, planning your study schedule, studying according to the set schedule, revising your work on a daily basis etc. Within a particular category there may be further minute descriptions. The researcher needs to describe her/his meaning of study habits. The description requires recording of a particular behaviour which helps in its proper understanding. Prediction : The second goal of scientific enquiry is prediction of behaviour. If you are able to understand and describe the behaviour ccurately, you come to know the relationship of a particular behaviour with other types of behaviours, events, or phenomena. You can then forecast that under certain conditions this particular behaviour may occur within a certain margin of error. For example, on the basis of study, a researcher is able to establish a positive relationship between the amount of study time and achievement in different subjects. Later, if you come to know that a particular child devotes more time for study, you can predict that the child is likely to get good marks in the examination.
Prediction becomes more accurate with the increase in the number of persons observed. Explanation : The third goal of psychological enquiry is to know the causal factors or determinants of behaviour. Psychologists are primarily interested in knowing the factors that make behaviour occur. Also, what are the conditions under which a particular behaviour does not occur. For example, what makes some children more attentive in the class? Why 23 Chapter 2 • Methods of Enquiry in Psychology some children devote less time for study as compared to others? Thus, this goal is concerned with identifying the determinants or antecedent conditions (i. . conditions that led to the particular behaviour) of the behaviour being studied so that cause-effect relationship between two variables (objects) or events could be established. Control : If you are able to explain why a particular behaviour occurs, you can control that behaviour by making changes in its antecedent conditions. Control refers to three things: making a particular behaviour happen, reducing it, or enhancing it. For example, you can allow the number of hours devoted to study to be the same, or you can reduce them or there may be an increase in the study hours.
The change brought about in behaviour by psychological treatment in terms of therapy in persons, is a good example of control. Application : The final goal of the scientific enquiry is to bring out positive changes in the lives of people. Psychological research is conducted to solve problems in various settings. Because of these efforts the quality of life of people is a major concern of psychologists. For example, applications of yoga and meditation help to reduce stress and increase efficiency. Scientific enquiry is also conducted to develop new theories or constructs, which leads to further research.
Steps in Conducting Scientific Research Science is not so defined by what it investigates as by how it investigates. The scientific method attempts to study a particular event or phenomenon in an objective, systematic, and testable manner. The objectivity refers to the fact that if two or more persons independently study a particular event, both of them, to a great extent, should arrive at the same conclusion. For instance, if you and your friend measure the length of a table using the same measuring device, it is likely that both of you would arrive at the same conclusion about its length.
The second characteristic of scientific research is that it follows systematic procedure or steps of investigation. It includes the following steps: conceptualisation of a problem, collection of data, drawing conclusions, and revising research conclusions and theory (see Fig. 2. 1). Let us discuss these steps in some detail. (1) Conceptualising a Problem : The process of scientific research begins when a researcher 1 Conceptualising a Problem Selecting a topic for study 2 Collecting Data Participants, methods, tools and procedure Revising Research Conclusions Restating existing hypothesis/ formulating revised or a new theory 3 Drawing Conclusions Using statistical methods Fig. 2. 1 : Steps in Conducting Scientific Enquiry 24 Psychology selects a theme or topic for study. Then s/he narrows down the focus and develops specific research questions or problems for the study. This is done on the basis of review of past research, observations, and personal experiences. For example, earlier you read that a researcher was interested in observing the study habits of students.
For this purpose, s/he may identify different facets of study habits first, and then decide whether s/he is interested in study habits shown in the class or at home. In psychology we study a diverse range of problems related to behaviour and experiences. These problems may be related to (a) understanding our own behaviour (for example, how do I feel and behave when I am in a state of joy or grief? How do we reflect on our own experiences and behaviour? Why do we forget? ); (b) understanding other individual’s behaviour (for example, Is Abhinav more intelligent than Ankur?
Why is someone always not able to complete her or his work on time? Can the habit of smoking be controlled? Why do some people suffering from chronic illness not take medicines? ); (c) group influences on individual behaviour (for example, why does Rahim spend more time meeting with people than doing his work? , Why does a cyclist perform better when cycling before a group of persons than when cycling alone? ); (d) group behaviour (for example, why does risk-taking behaviour increase when people are in a group? ), and (e) organisational level (for example, why are some organisations more successful than others?
How can an employer increase the motivation of employees? ). The list is long and you will learn about these various facets in subsequent chapters. If you are inquisitive, you can write down a number of problems which you may like to probe. After identification of the problem, the researcher proceeds by developing a tentative answer of the problem, which is called hypothesis. For example, based on the earlier evidence or your observation, you might develop a hypothesis ‘greater is the amount of time spent by children in viewing violence on television, higher is the degree of aggression displayed by them’.
In your research, you shall now try to prove whether the statement is true or false. (2) Collecting Data : The second step in scientific research is to collect data. Data collection requires developing a research design or a blueprint of the entire study. It requires taking decisions about the following four aspects: (a) participants in the study, (b) methods of data collection, (c) tools to be used in research, and (d) procedure for data collection. Depending upon the nature of the study, the researcher has to decide who would be the participants (or informants) in the study.
The participants could be children, adolescents, college students, teachers, managers, clinical patients, industrial workers, or any group of individuals in whom/ where the phenomenon under investigation is prevalent. The second decision is related to the use of methods of data collection, such as observation method, experimental method, correlational method, case study, etc. The researcher needs to decide about appropriate tools (for example, interview schedule, observation schedule, questionnaire, etc. ) for data collection.
The researcher also decides about how the tools need to be administered to collect data (i. e. individual or group). This is followed by actual collection of data. (3) Drawing Conclusions : The next step is to analyse data so collected through the use of statistical procedures to understand what the data mean. This can be achieved through graphical representations (such as preparation of pie-chart, bar -diagram, cumulative frequencies, etc. ) and by the use of different statistical methods. The purpose of analysis is to verify a hypothesis and draw conclusions accordingly. 4) Revising Research Conclusions : The researcher may have begun the study with a hypothesis that there exists a relationship between viewing violence on television and aggression among children. S/he has to see whether the conclusions support this 25 Chapter 2 • Methods of Enquiry in Psychology hypothesis. If they do, the existing hypothesis/ theory is confirmed. If not, s/he will revise or state an alternative hypothesis/theory and again test it based on new data and draw conclusions which may be verified by future researchers. Thus, research is a continuous process.
Alternative Paradigms of Research Psychologists suggest that human behaviour can and should be studied following the methods adopted by sciences like physics, chemistry, and biology. The key assumption of this view is that human behaviour is predictable, caused by internal and external forces, and can be observed, measured, and controlled. In order to achieve these goals, the discipline of psychology, for larger part of the twentieth century, restricted itself to the study of overt behaviour, i. e. the behaviour that could be observed and measured.
It did not focus on personal feelings, experiences, meanings, etc. In recent years, a different method known as interpretive has emerged. It emphasises understanding over explanation and prediction. It takes the stand that, in view of complex and variable nature of human behaviour and experience, its method of investigation should be different from the method of investigation of the physical world. This viewpoint emphasises the importance of how human beings give meaning to events and actions and interpret them as they occur in a particular context.
Let us take the experiences that may occur in some unique contexts, such as persons experiencing suffering due to external factors (for example, people affected by tsunami, earthquake, cyclone) or internal factors (for instance, prolonged illness, etc. ). In such types of situations, objective measurement is neither possible nor desirable. Everyone interprets reality in her/his own way based on past experiences and contexts. Therefore, we need to understand the subjective interpretation of the reality. The goal here is to explore the different aspects of human experiences and behaviour without 26 Psychology ttempting to disturb its natural flow. For example, an explorer does not know what s/ he is looking for, how to look for it, and what to expect. Rather, s/he tries to map an uncharted wilderness, with little or no prior knowledge of the area, and her/his main task is to record detailed descriptions of what is found in a particular context. Both scientific and interpretive traditions are concerned with studying behaviour and experiences of others. What about our own personal experiences and behaviour? As a student of psychology, you may ask yourself the question: why am I feeling sad?
Many times you take a pledge that you will control your diet or devote more time to studies. But when it actually comes to eating or studying you forget this. You might be wondering why one does not have control over one’s behaviour. Should psychology not help you in analysing your own experiences, thought processes, and behaviour? It certainly should. The psychological enquiry does aim at understanding the self by reflecting on one’s own experiences and insights. NATURE OF PSYCHOLOGICAL DATA You may want to consider how psychological data are different as compared to other sciences.
Psychologists collect a variety of information from different sources employing diverse methods. The information, also called data (singular = datum), relate to the individuals’ covert or overt behaviour, their subjective experiences, and mental processes. Data form an important input in psychological enquiry. They in fact approximate the reality to some extent and provide an opportunity to verify or falsify our ideas, hunches, notions, etc. It should be understood that data are not independent entities. They are located in a context, and are tied to the method and theory that govern the process of data collection.
In other words, data are not independent of the physical or social context, the persons involved, and the time when the behaviour occurs. We behave differently when alone than in a group, or at home and in office. You may hesitate to talk in front of your parents and teachers but not when you are with friends. You may have also noticed that not all people behave in exactly the same manner in the same situation. The method of data collection (survey, interview, experiment, etc. ) used and the characteristics of respondents (such as, individual or group, young or old, male or female, rural or urban, etc. also influence the nature and quality of data. It is possible that when you interview a student, s/he may report behaving in a particular manner in a given situation. But when you go for actual observation you may find just the opposite of what s/he had reported. Another important feature of data is that it does not in itself speak about reality. Inferences have to be made from data. A researcher attaches meaning to the data by placing it in its proper context. In psychology, different types of data or information are collected.
Some of these types are : i) Demographic Information : This information generally includes personal information like name, age, gender, birth order, number of siblings, education, occupation, marital status, number of children, locality of residence, caste, religion, parental education, occupation, and family income, etc. ii) Physical Infor mation : This category includes information about ecological conditions (hilly/desert/forest), mode of economy, housing conditions, size of rooms, facilities available at home, in the neighbourhood, in the school, mode of transportation, etc. ii) Physiological Data : In some studies physical, physiological and psychological data are collected about height, weight, heart rate, level of fatigue, Galvanic Skin Resistance (GSR), electrical activity of the brain measured by Electro-encephalograph (EEG), blood oxygen levels, reaction time, duration of sleep, blood pressure, pattern of dream, amount of salivation, running and jumping rates (in case of animal studies), etc. , are collected. iv) Psychological Information : Psychological information collected, may relate to such reas as intelligence, personality, interest, values, creativity, emotions, motivation, psychological disorders, illusions, delusions, hallucinations, perceptual judgment, thought processes, consciousness, subjective experiences, etc. The above information could be from the point of view of measurement somewhat crude. Like, in the form of categories (such as high/ low, yes/no), ranks which provide ordinal data, viz. first, second, third, fourth, etc. , or scores (10, 12, 15, 18, 20, etc. ) on scales. We also obtain verbal reports, observation records, personal diaries, field notes, archival data, etc.
Such types of infor mation is analysed separately using qualitative methods. You will get some idea about this later in this chapter. SOME IMPORTANT METHODS IN PSYCHOLOGY In the previous section you read about wide variety of data that we collect in psychological studies. All these varieties of data cannot be collected through a single method of enquiry. Psychologists use a variety of methods like Observation, Experimental, Correlational, Survey, Psychological Testing, and Case Study to collect data. The aim of this section is to guide you to select the methods which may be appropriate for different research purposes.
For example: • You can observe the behaviour of spectators watching a football match. • You can conduct an experiment to see if children taking an examination do better in the classroom in which they had studied the subject or in the examination hall (cause-effect relationship). • You can correlate intelligence with, say, selfesteem (for prediction purposes). • You can survey students’ attitude towards privatisation of education. • You can use psychological tests to find out individual differences. • You can conduct a case study on the development of language in a child.
The main characteristics of these methods are described in the following sections. 27 Chapter 2 • Methods of Enquiry in Psychology Observational Method Observation is a very powerful tool of psychological enquiry. It is an effective method of describing behaviour. In our daily life, we remain busy with observing numerous things throughout the day. Many times, we do not take notice of what we are seeing or what we have seen. We see but we do not observe. We remain aware of only a few things that we see daily. Have you experienced such a thing?
You may also have experienced that if you carefully observe a person or event for some time, you come to know many interesting things about the person or the event. A scientific observation dif fers from day-to-day observation in many respects. These are : (a) Selection : Psychologists do not observe all the behaviour that they encounter. Rather, they select a particular behaviour for observation. For example, you may be interested to know how children studying in Class XI spend their time in school. Two things are possible at this stage.
As a researcher, you might think that you have a fairly good idea about what happens in school. You might prepare a list of activities and go to the school with a view to finding out their occurrences. Alternatively, you might think that you do not know what happens in the school and, by your observation you would like to discover it. (b) Recording : While observing, a researcher records the selected behaviour using different means, such as marking tallies for the already identified behaviour whenever they occur, taking notes describing each activity in greater detail using short hand or symbols, photographs, video recording, etc. c) Analysis of Data : After the observations have been made, psychologists analyse whatever they have recorded with a view to derive some meaning out of it. It is important to know that making good observations is a skill. A good observer knows what s/he is looking for, whom s/he wants to observe, when and where the observation 28 Psychology needs to be made, in what for m the observation will be recorded, and what methods will be used to analyse the observed behaviour.
Types of Observation Observation can be of the following types : (a) Naturalistic vs Controlled Observation : When observations are done in a natural or real-life settings (in the above example, it was a school in which observation was made), it is called naturalistic observation. In this case the observer makes no effort to control or manipulate the situation for making an observation. This type of observation is conducted in hospitals, homes, schools, day care centers, etc. However, many a times you might need to control certain factors that determine behaviour as they are not the focus of your study.
For this reason, many of the studies in psychology are conducted in the laboratory. For example, if you read Box 2. 1, you will come to know that smoke could only be introduced in a controlled laboratory situation. This type of observation, called Controlled Laboratory Observation, actually, is obtained in laboratory experiments. (b) Non-Participant vs Participant Observation : Observation can be done in two ways. One, you may decide to observe the person or event from a distance. Two, the observer may become part of the group being observed.
In the first case, the person being observed may not be aware that s/he is being observed. For example, you want to observe the pattern of interaction between teachers and students in a particular class. There are many ways of achieving this goal. You can install a video camera to record the classroom activities, which you can see later and analyse. Alternatively, you may decide to sit in a corner of the class without interfering or participating in their everyday activities. This type of observation is called non-participant observation.
The danger in this type of setup is that the very fact that someone Box 2. 1 Example of an Experiment ignored; within four minutes the room contained enough smoke to interfere with vision and breathing. Latane and Darley were primarily interested in knowing how frequently students simply got up and left the room to report the emergency. Most (75 per cent) of the students who were waiting alone reported the smoke, but those reporting in groups were far less. Groups consisting of three naive students reported it only 38 per cent of the time.
When the students waited with two other confederates, who were instructed before hand by the researchers to do nothing, only 10 per cent students reported smoke. Two American psychologists, Bibb Latane and John Darley, conducted a study in 1970. In order to participate in this study, the students of Columbia University arrived individually at a laboratory. They were given the impression that they would be interviewed on a certain topic. Each student was sent to a waiting room to complete a preliminary questionnaire.
Some of them found two other people already seated in the room, while others sat down alone. Soon after the students had started working on the questionnaire, smoke began filling the room through a wall vent. The smoke could hardly be (an outsider) is sitting and observing may bring a change in the behaviour of students and the teacher. In participant observation, the observer becomes a part of the school or the group of people being observed. In participant observation, the observer takes some time to establish a rapport with the group so that they start accepting her/him as one of the group members.
However, the degree of involvement of the observer with the group being observed would vary depending upon the focus of the study. The advantage of the observation method is that it enables the researcher to study people and their behaviour in a naturalistic situation, as it occurs. However, the observation method is labour intensive, time consuming, and is susceptible to the observer’s bias. Our observation is influenced by our values and beliefs about the person or the event. You are familiar with the popular saying: “We see things as we are and not as things are”.
Because of our biases we may interpret things in a different way than what the participants may actually mean. Therefore, the observer should record the behaviour as it happens and should not interpret the behaviour at the time of observation itself. Activity 2. 1 A few students can observe one period when the psychology teacher is teaching in the class. Note down, in detail, what the teacher does, what the students do, and the entire pattern of interaction between the teacher and the students. Discuss the observations made with other students and teacher. Note the similarities and differences in observation.
Experimental Method Experiments are generally conducted to establish cause-effect relationship between two sets of events or variables in a controlled setting. It is a carefully regulated procedure in which changes are made in one factor and its effect is studied on another factor, while keeping other related factors constant. In the experiment, cause is the event being changed or manipulated. Effect is the behaviour that changes because of the manipulation. The Concept of Variable You read earlier that in the experimental method, a researcher attempts to establish causal relationship between two variables. What is a variable?
Any stimulus or event 29 Chapter 2 • Methods of Enquiry in Psychology which varies, that is, it takes on different values (or changes) and can be measured is a variable. An object by itself is not a variable. But its attributes are. For example, the pen that you use for writing is NOT a variable. But there are varieties of pens available in different shapes, sizes, and colour. All of these are variables. The room in which you are sitting is NOT a variable but its size is as there are rooms of different sizes. The height of the individuals (5′ to 6′) is another variable. Similarly, people of different races have different colours.
Young people have started dyeing their hair in different colours. Thus, colour of hair becomes a variable. Intelligence is a variable (there are people with varying levels of intelligence — high, moderate, low). The presence or absence of persons in the room is a variable as shown in the experiment in Box 2. 1. Thus, the variation can be in the quality or quantity of objects/events. Variables are of many types. We will however focus on independent and dependent variables. Independent variable is that variable which is manipulated or altered or its strength varied by the researcher in the experiment.
It is the effect of this change in the variable which the researcher wants to observe or note in the study. In the experiment conducted by Latane and Darley (Box 2. 1), the researchers wanted to examine the effect of the presence of other persons on reporting of the smoke. The independent variable was presence or absence of other persons in the room. The variables on which the effect of independent variable is observed is called dependent variable. Dependent variable represents the phenomenon the researcher desires to explain.
It is expected that change in the dependent variable will ensue from changes in the independent variable. The frequency of reporting of smoke in the above case was the dependent variable. Thus, the independent variable is the cause, and dependent variable the ef fect in any experimental situation. One must remember that independent and dependent variables are interdependent. Neither of them can be defined without the 30 Psychology other. Also, independent variable chosen by the researcher is not the only variable that influences the dependent variable. Any behavioural event contains many variables.
It also takes place within a context. Independent and dependent variables are chosen because of the researcher’s theoretical interest. However, there are many other relevant or extraneous variables that influence the dependent variable, but the researcher may not be interested in examining their effects. These extraneous variables need to be controlled in an experiment so that a researcher is able to pin-point the cause and effect relationship between independent and dependent variables. Experimental and Control Groups Experiments generally involve one or more experimental groups and one or more control groups.
An experimental group is a group in which members of the group are exposed to independent variable manipulation. The control group is a comparison group that is treated in every way like the experimental group except that the manipulated variable is absent in it. For example, in the study by Latane and Darley, there wer e two experimental groups and one control group. As you may have noted, the participants in the study were sent to three types of rooms. In one room no one was present (control group). In the other two rooms, two persons were already seated (experimental groups).
Of the two experimental groups, one group was instructed not to do anything when smoke filled in the room. The other group was not given any instructions. After the experimental manipulation had occured the performance of the control group measured in terms of reporting of smoke was compared with that of the experimental group. It was found that the control group participants reported in maximum numbers about the emergency, followed by the first experimental group members where the participants were not given any instructions, and the second experimental group (consisting of onfederates) reported the emergency situation, the least. It should be noted that in an experiment, except for the experimental manipulation, other conditions are kept constant for both experimental and control groups. One attempts to control all those relevant variables which can influence the dependent variable. For example, the speed with which smoke started entering the rooms, the total amount of smoke in the rooms, physical and other conditions of the rooms were similar in case of all the three groups.
The distribution of participants to experimental and control groups was done randomly, a method that ensures that each person has an equal chance of being included in any of the groups. If in one group the experimenter had included only males and in the other group females, the results obtained in the study, could be due to the differences in gender rather than due to experimental manipulation. All relevant variables in experimental studies that might influence the dependent variable need to be controlled.
These are of three major types: organismic variables (such as anxiety, intelligence, personality, etc. ), situational or environmental variables operating at the time of conducting the experiment (such as noise, temperature, humidity), and sequential variables. The sequence related variables assume significance when the participants in experiments are required to be tested in several conditions. Exposure to many conditions may result in experimental fatigue, or practice effects, which may influence the results of the study and make the interpretation of the findings difficult.
Research Utilisation in Health Care Professionals homework essay help: homework essay help
In the clinical setting, it is now expected that health care practitioners adopt evidence based practice to ensure high quality care and patient safety is maintained (Tuite & George 2010). Adopting an evidence based approach in healthcare will also help to ensure that, the care provided, is more likely to be cost effective and will result in positive patient outcomes (Jones & Bourgeouis 2007, p. 88; Bevan 2010, p. 142).
However the research and evidence provided is always changing therefore it is important for health professionals to continually stay up to date and further develop their knowledge in relation to their field of practice (Timmins & Pallen 2002, p. 100). This can be a difficult task and not all health professionals utilise research in their practice even though they know the benefits of researching (McDonnell 2004, p. 185). This essay will explore the reasons why health care professionals do not utilise research in their practice.
It will then help identify the strategies for enhancing research utilisation by health care professionals in the clinical settings. By identifying these strategies, health professionals may be able to adopt their strategies and act as a change agent in their clinical setting. This role of a change agent will then be discussed to help other health professionals implement change within their workplace to ensure evidence based research is adopted and help to increase positive patient outcomes.
The information for this essay was gathered from UOW Library databases such as Proquest, ScienceDirect, Cochrane Collection, Academic Onefile and Informit Health Collection. Keywords such as “research”, “utilisation”, “professional”, “practice”, “barriers”, “recommendations”, “change agents”, “evidence based practice”, “strategies”, “change agents”, “health care” and “implementation” were used in the searches. The articles chosen were limited to research that was conducted within the last 15 years and were used when the abstract showed that they were relevant to this study.
It should first be noted that while evidence based research can help to increase positive health outcomes for the patient, it is not always the best option for the patients as it is based on scientific knowledge and does not consider the patients preferences which can cause harm to the patients spiritual, emotional and mental well being (McDonnell 2004, p. 187). Therefore it should be taken into consideration when implementing certain practices. It is also important to emphasise that not all research is directly usable in practice, meaning that it does not have the proper explanations and predictions available in order to be used in practice.
As research can also be indirectly usable, which only provides knowledge and insight in a particular field of research or the research can be of methodological use which involves the use of measurement scales or tools. It may not also be beneficial if the research is used inappropriately (McDonnell 2004, p. 187). As stated by McDonnell (2004), the main reasons for why health professionals do not use research, can be put into 3 categories. These are barriers related to, the accessibility of research, to the individual and to the setting
Finding evidence based research can be a difficult and time consuming task when there is limited research on a particular field of study or when the available information is not easily accessible (Wysocki & Bookbinder 2005). Difficulties include, research not being published, information being disseminated where nurses are unable to access or attend such as conferences or workshops which are during their work hours and lack of access to library facilities or electronic information (McDonnell 2004, p. 188).
Research is also published in journals which are not read by health care practitioners and when they are able to access the information, the language used is often difficult to understand or there is an overload of information which can de-motivate the health care practitioners from researching or using the information provided. (McDonnell 2004, p. 188-189; Sitzia 2002, p. 232) When it comes to barriers relating to the individual, nurses are aware of the benefits of using evidence based research with “95. % state that it has an important role to play in improving patient care” (Timmins & Pallen 2002, p. 101). However many do not read the research due to their inability to understand or use the information provided. This can also be due to a lack of confidence in themselves and the belief that they do not believe they have the authority to make a change in the policies within their workplace (McDonnell 2004, p. 189). Other barriers such as “old school beliefs” or disinterest will also prevent health practitioners from researching and updating their knowledge on their practices (Lehman, 2009).
Barriers related to the setting also include lack of time during work to research and read, especially during work hours with high work loads (Bryar et al 2003, p. 77; McDonnell 2004, p. 190) and “organisational barriers to change” such as the lack of authority to change procedures, the lack of cooperation from the managers and the difficulty to make changes in a larger organisation (McDonnell 2004, p. 190). To help enhance research utilisation, the barriers need to be broken down to help health care professionals easily access the research information that is available. (McDonnell 2004, p. 92) Strategies to help increase accessibility of research includes the increased production and promotion of clinical guidelines, systematic reviews and meta-analyses which helps to turn large amounts of studies into a simpler form and decrease the amount of time it takes for practitioners to gain the information (Bradley & Dixon 2009; McDonnell 2004, p. 192).
The individual can also help by encouraging research by the organisation and other practitioners or clinicians by emphasising the need for change and this can lead to others exploring certain issues together to help gather and present information in a format which is more appealing for others to use. (Bevan 2010, p. 145) McDonnell (2004) suggests that making changes to the setting such as creating policy initiatives, using clinical leaders to promote research based practice, establishing research interest groups and creating a research culture will help to enhance research utilisation in the clinical setting by health care practitioners.
Creating a supportive researching environment by providing on the job training, educational resources and discussion groups will help to maintain the researching in clinical environments (Sitzia 2002, p. 239). The inability to access the information can also be overcome by the organisation offering information and communication technologies training which means offering education and support on how to use computers in gaining access to databases and educational resources, as many evidence based materials are only accessible through the internet and library resources and many clinicians do not use them (Gagnon et al 2009).
Breaking down the barriers to research utilisation and using these strategies to overcome them will help to increase research and promote evidence based practice. However this can not be achieved by just the individual, it requires the organisation to implement changes to facilitate research utilisation. (McDonnell 2004, p. 196; Bevan 2010, p. 143) The strategy of organisations providing education and support will be explored in detail to show how it can help to influence clinicians to utilise research into their practice.
However it should be noted that overcoming one barrier alone may not be effective in helping to enhance research utilisation as the barriers related to the information and to the individual may prevent its success. (Thomson 1998) Seminars, training courses and other forms of educational support and training provided by the organisation can be an inexpensive strategy to adopt when they are provided to large groups.
It also reduces the amount of time required to disseminate the information to large organisations and it gives staff from the whole organisation the option to attend and extend their knowledge in a particular field of study (Thompson, Moore & Estabrooks 2008; Sitzia 2002, p. 240). When health professionals attend the education seminar, their colleagues may also feel pressured or be influenced to attend the meetings which will help to create a research culture within the workplace as it helps to encourage thers to adopt practices that are evidence base (Sitzia 2002, p. 240). These strategies will not only help to break down the barriers related to the setting, but it will help to overcome the barriers related to the information that is provided. As many research studies are published using jargon and are not user-friendly which may discourage health professionals from using the information. Therefore, educational sessions will help to gather and translate the information into understandable means. (Forsetlund et al 2009).
However Thompson, Moore & Estabrooks (2008) state that educational seminars are not sufficient to be effective in promoting research and suggests that using a local opinion leader would help to facilitate the change and ensure that the educational session is effective. On a smaller scale, in-services can be provided within each ward to help provide a greater amount of support as they are able to speak to them individually compared to communicating with a larger group (Royle & Blythe 1998). Due to the difficulties in implementing change within the clinical setting, adopting change agents will help to facilitate a smooth transition.
Change agents influence the “opinions, attitudes, beliefs, motivations and behaviours of others” by acting as a role model and providing guidance (Valente & Pumpuang 2007, p. 1, Bevan 2010, p. 147). The health professional can act a change agent by supporting their peers and provide explanations as to why there is a need for change by using examples from their work environment. By demonstrating the importance of this change in helping to improve conditions within their workplace will encourage them to adopt the changes.
The relationship between the change agent and other colleagues will help increase the success of the change as they see that the change is achievable by witnessing another peer implement the changes themselves. (Bevan 2010, p. 147) For a health professional implementing research in the workplace, they can act as a change agent by influencing other health professionals implement research themselves (Crookes & Froggatt 2004, p. 215). This one on one training and support will also help to teach others how to conduct studies themselves about changes they would like to implement.
By involving other health professionals in research projects, it will help to make the task seem less daunting as there is a support network which is directly available to them and the research can be shared among others. (McDonnell 2004, p. 187) Therefore, change agents can be a useful in helping to enhance research utilisation by health professionals. In conclusion, it is evident that through this study there are many barriers to research utilisation, all of which can be categorised as barriers related to the accessibility of research, to the individual and to the setting.
By implementing strategies which are aimed at breaking down these 3 barriers, it will help to enhance research utilisation and promote evidence based practice approaches. In order to effectively facilitate health professionals into implementing research independently, they must first be trained and supported with the use of a change agent who can help to build their confidence and ensure they are able to conduct the research themselves. A change agent will also help individuals understand what is required to conduct research and facilitate change themselves leading to a culture of research utilisation.
It should also be noted that enhancing research utilisation cannot be achieve by individual health professionals but it requires change among all levels of the organisation to implement changes to help create a culture of research utilisation.
Work-Related Project Analysis my assignment essay help london: my assignment essay help london
This part of the paper focuses on the Systems’ Architecture and process design, in terms of data, processes, interfaces, and networks. Created charts and diagrams represent the activity explained in the following paragraphs. When finished, this part of the paper should display the solution for solving the issue of the accountings systems’ poor tracking of transactions and maintenance repairs.
Poor Tracking and reduction In Maintenance Solution The problem involved poor tracking of transactions and several maintenance repairs. To correct this problem a new design is developed. After testing the system with several types of analysis methods, the following designs for a system proves as the optimal solution. System’s Architecture Every system’s architecture largely permits or prohibits a system’s quality attributes such as performance or reliability.
This Accounting Transaction processing system’s performance will depend heavily on the system’s input/output architecture, data communications architecture, and the efficiency of the system software (Satzinger, 2004). An account transaction processing system’s architecture must support sharing data with many clients, tracking transactions, and most important support the organizational structure of business. Possessing the ability to access daily activity and provide quality service in an efficient way; makes room for good customer service.
Also this newly designed system will eliminate wait time for customers; most requests are processed while the customer waits. With this being the case, this architecture contains scalability to handle high volumes of requests. The Client-Server System is the chosen architecture design for this project. The system allows database functionality to be divided into a request and reply side. This architecture client application takes a load off shared network resources and server machines, and then puts it onto the client computers; this makes room for better performance and application flexibility.
The architecture includes independent, cooperating components (services) that can be allocated around and about an organization’s physical boundaries and security domains, using varying platforms; see figure 1, the architecture design. System Flow Chart In the illustration of Figure 2, the application software illustration identifies the various subsystems and their relationships (Satzinger, 2004). Setting the system in this fashion will let multiple transactions go through with just a minimal chance for delay.
To stay within budget, a system as this is adequate to maintain a mid-size organization’s business operations. If the system needs upgrading/restructuring in the future, this application can start out as a local client/server program, and later be run from anywhere in the world, efficiently accessing a database via the Internet, without costly reimplementation (Base, 2010). Data Flow Chart A flow chart shows the exact sequence of operations performed by a program completing a process (Flow, 2009). The data flow chart to this system illustrates the flow of operations.
The customers are the main driver for this system. Customers purchase product and an order is generated. Next the order is recorded and tracked in the system, and then the customer makes payment. Once complete this transaction is traceable for any after sale activity such as refunds or product returns. If the transaction is not internal then the billing part to the system activates and generates a statement for billing. The statement gets printed and mailed out to the external customer. The following illustration, Figure 3 displays a visual description to this data. Figure 3. Data Flow Diagram
Conclusion Accounting Transaction processing systems are relied upon in the business world. These information systems must accomplish task, provide reports, and maintain records on a regular basis. Through reading several articles, it seems accounting systems make accounting management more manageable (Matthews, 1967). In addition; when implemented correctly; an organization can provide their customers with a quality of excellence.
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He was the third classical musician to be awarded the Bharat Ratna (in 2001), the highest civilian honour in India and gained worldwide acclaim for playing the shehnai for more than eight decades Early life and background Bismillah Khan was born at Bhirung Raut Ki Gali, in Dumraon, Bihar as the second son of Paigambar Khan and Mitthan. He was named as Qamaruddin to rhyme with Shamsuddin, their first son.
His grandfather, Rasool Baksh Khan uttered “Bismillah” (the basmala) after looking at the newborn, thus he was named Bismillah Khan. His ancestors were court musicians and used to play in Naqqar khana in the princely states of Bhojpur, now in Bihar. His father was a shehnai player in the court of Maharaja Keshav Prasad Singh of Dumraon Estate, Bihar. At the age of six, he moved to his maternal house, located close to the Ganges at Varanasi. He received his training under his uncle, the late Ali Baksh ‘Vilayatu’, a shehnai player attached to Varanasi’s Vishwanath Temple.
Religious beliefs Though a pious Shi’ite Muslim, he was also, like many Indian musicians, regardless of religion, a devotee of Saraswati, the Hindu Goddess of wisdom and arts, and often played at Hindu temples, including the famous Vishwanath Temple in Varanasi, on the banks of the river Ganga. He also performed for spiritual master Prem Rawat. Career Bismillah Khan was perhaps single handedly responsible for making the shehnai a famous classical instrument. He brought the shehnai to the center stage of Indian music with his concert in the Calcutta All India Music Conference in 1937.
He was credited with having almost monopoly over the instrument as he and the shehnai are almost synonyms. Khan is one of the finest musicians in post-independent Indian Classical music and one of the best examples of Hindu-Muslim unity in India and had played shenai to audience across the world. He was known to be devoted to his art form that he referred to shehnai as his begum, wife in Urdu, after his wife died. On his death, as an honour, his shehnai was also buried along with him. He was known for his vision of spreading peace and love through music.
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Technology has become an exponentially growing industry in today’s professional world. Today’s companies are relying on technology to maximize their work output and work at the most efficient pace. Today in this paper the focus will be on “Technology and Management Functions. ” This paper will examine how management at The Ritz-Carlton Hotel Company expects technology to improve the company in different ways around the world.
How The Ritz-Carlton’s current technology uses are meeting business needs will be discussed as well. First an explanation of what technology is will be looked at in the paper. “Technology is the process by which humans modify nature to meet their needs and wants. ” (The National Academy of Sciences, 2009) Technology is that which is used to carry out plans or gather resources. The product of science and engineering is called technology so therefore engineering and science is included in technology. Anissimov, M. , 2003-2009) Technology can be beneficial for everyone, and has the ability to be used anywhere. Technology can be of great assistance to those who may have a disability and need help with everyday things some of us take for granted. With technology an individual having trouble with their sight can transfer information from one computer to the next without have to use brail. The Ritz-Carlton Hotel Company is one of the largest luxury hotel chain in the world with more the 88 properties worldwide.
The organization strives to provide its customers with excellent service and comfort, making each guest who enters the hotel feel at home. The Ritz-Carlton is working to not only expand their chain but also the customers who frequent their hotels. As the younger generations needs change in what they are looking for in a hotel, the company is working on adapting to meet those needs. The company y has invested in the latest technology to help each hotel track their guests, and keep much need information that the company calls guest preferences.
This is a way to meet each guests needs across the company without them having to ask for things. For example if a guest is known to like a certain type of beer and he is visiting a hotel for the first time that hotel might send up a couple of those beers to his hotel prior to his arrival as a way to wow the guest and keep that Ritz-Carlton mystique alive. The Ritz-Carlton uses technology to keep track of guest preferences, to spread offers from the brand across the internet and to drive occupancy levels with those special offers.
The Ritz-Carlton is also using technology to help reduce their carbon footprint with each hotel being encouraged to start green programs. At the Ritz-Carlton property I work at we have implemented green programs all over the hotel, from our Sales department to a recycling program. The Sales team at our hotel has a “green meetings” package, where the room has energy saving light bulbs, large water cooler rather then individual bottles, recycled paper products for notepads and a green menu that only uses locally grown products for the food.
The green meetings have been a great success with many clients who are also focused on green programs themselves, even Exxon Mobil who is a large client is using the green meetings more, a surprised from the worlds largest oil company. The company uses technology to spread the word about successful green meetings, encouraging other hotels to follow suit, and also incentivizing the sale of green meetings with bonus checks for the hotel that sells the most.
The Ritz-Carlton knows that technology plays an important part in the future success of the company, in our hotels last renovation many technology upgrades were made to the guest rooms. In each room the guest no longer has to crawl under the desk to plug in any electronics or chargers, a “Jak Pak” has now been placed in the dresser that has outlets as well as TV In/Out plugs so a guest could connect their computer to the large HD TV’s that were also part of the upgrade. Additionally an I-pod home has replaced the old alarm clocks, giving the guest a place to charge and use their I-pod’s. he changes in the guest rooms has not gone unnoticed, from many meeting planners I have hear good things about all the upgrades. As technology becomes more and more a part of our guests lives they want to have access to it at all times, so the company is making changes to allow them easier access when staying with our hotels. The company knows that success is measured by our customers and of course marinating a lead in the luxury brand is vital in this economy, so any new guests our hotel can earn helps keep others employed at the hotel.
As an employee with The Ritz-Carlton Hotel Company, examples of how technology is valued are witnessed on a daily basis. The value was illustrated on a small and large scale. For example, the company has put much effort into the website, hiring an internet marketing manager to spruce it up and make it more attractive and welcoming. Giving more information on a web and allowing more hands-on agility can increase customer’s frequency of use and even help spread the word about the company.
The role as a Internet Marketing Manager is key to the success of the website, someone who is well versed in promoting the brand correctly to our key markets. Configuring its customer databases and being the catalyst for effective and efficient service is paramount. The position works with the company’s website on a daily basis to ensure that customers, employees, management, and other users will benefit from its interaction, interrelation, and system interdependence. Any organization including The Ritz-Carlton, can, will, and does benefit from the implementation of new and upgraded technology.
Management within the company have become more apt and obligated to adhere to technology for communication purposes, every manager at our hotel has a blackberry. The focus on technology improvements has helped the company move into the new century and opened the door to new tech-savvy professionals who enjoy the luxury hotel market.
Zero Subsidies for Sugar and Flour in Malaysia aqa unit 5 biology synoptic essay help: aqa unit 5 biology synoptic essay help
For Sugar and Flour,the Future of International Business for food industry in Malaysia. Introduction At the end of 2009 , Malaysia government had announced that there would be zero subsidies for sugar and flour. As a result of that, teh tarik, roti canai and roti bakar are set to cost more next year when the government ceases to subsidise general purpose flour , fine and coarse sugar , and standard loaf bread. Domestic Trade and Consumer Affairs Ministry secretary-general Datuk Mohd Zain Mohd Dom said subsidies for these items will be removed by the end of the year, opening them up to market forces .
The retail price for flour is RM1. 35/kg, coarse sugar RM1. 45/kg, fine sugar RM1. 55/kg, and bread RM2. 10/400g. Without government subsidy, flour would cost RM2/kg, sugar RM2. 05/kg, and bread RM2. 42/400g. These include costs for production,manufacturing , distribution , wholesale and retailing. What will International Business Facing in Malaysia 2010 Some of the production , manufacturing , distribution factories will end up with the shutting down of the factories. Some of the factories not able to afford the increase of cost in manufacturing and producting items.
When the cost becomes higher , they couldn’t earn enough profit to run their business. The maintenance for machine,wages,and mischeallonous costs are burdening them. Factories such as GARDENIA BAKERIES and HIGH 5 will facing the troubles above. In order to control profits, maybe they will have to remove price control or increase the price. If they choose to increase the price, demand for the bread will reduce. Due to cost increased and lower profits made, multinational companies like BREADSTORY SDN. BHD will have to close some outlets in Malaysia and invest more in other countries like Indonesia, Sydney and Kuwait at the upcoming season.
Currently, BREADSTORY SDN. BHD has 21 outlets in Malaysia, 2 in Kuwait, 8 in Indonesia and 2 in Sydney, Australia. The next roaring chapter of BreadStory is set to unfold in Pakistan, Bangladesh, United Kingdom and hopefully United States. Competitive disadvantage . After the gorvenment decide to remove the subsidy of sugar and flour, the local international food industry MASCELLENT RESOURES Sdn Bhd was trouble in competition’s disadvantage due to cannot extend the market with the lower prices. At the same time, the company are also facing the downward of endogeneous export due to disadvantage of cost .
The majority of food industry will be losing the edge over a bigger rival in bidding competition in globalization. The local food industry not only will losing the competition in international position, but also will losing the advantage in the domestic market. These two biggest food industry company , the GARDENIA and STANSON BAKERIES are competing to lead the bread market. This has resulted in frequent prices and volumes of bread fluctuation . While one company charges 20 cents cheaper, the other company offers an extra 20% of bread.
Hence, we can say that the bread industrialists are alert all the time. Their current move in conquering more of the market share is to strive towards offer a cheaper prices . In past few years , the government had grant subsidies to local food industry to help them enhance their trade position and ability of competition in international business status . Without subsidies , the local food industry cant have the cost advantage to allow them to market their product at prices lower than their actual cost or profit consideration .
And subsidies as a form of protectionism or trade barrier by making local good and services artificially competitive against import and export for extend their international market shares. Growth Potential For Fast Food (Food Industries) In Malaysia. After Government retained subsidies for flour, bread and sugar. “Fast Food industries” still can provide the meals at the same price and some set meals to consumer compare with other food stalls. So that consumer will prefer spend their meals at fast food restaurants. Example: Offered as one of KFC’s popular “Jom Jimat” value for money meals together with a regular carbonated drink at RM5. 90 only. ) Beside that, the group has plans to open more new restaurants in untapped areas, particularly in East Malaysia and small townships like Kelantan and Terengganu given that outlet rentals are lower on the East Coast making KFC fast food restaurants there more profitable. KFC is looking to have more “drive-through” Outlets as this would generate better store sales growth of about 25 per cent compared with the present 15 per cent growth.
Price export will increase. Without the subsidies from government for flour and sugar , cost for produce food especially bread will definitely become more higher than before. Therefore, price export will increase. Producer has to increase the price of bread in order to maintain their profits and cost to operate the production line. These costs include wages, raw materials, rentals, fees of transportation and miscellaneous expense. For example, gardenia increase price of its products since the government stop to subsidy on flour and sugar.
Market share for the bread industry will declined as a result of the zero subsidies. For example, a bread factory in Malaysia, the Stanson Bakeries, has 250 trucks plying the peninsula’s North-South expressway 24 hours a day, to reach their outlets overnight, on a daily basis. Their strong distribution network has enabled the company to supply more than 8000 retail outlets throughout the country (Dhesi, 2004). The North-South expressway, spanning 890 km connecting the Thai and Singapore borders, opened in 1994, has help to shorten the travelling time by half.
Through the situation that we’ll be facing, transaction between these 2 countries will be jeopardize when the price is overwhelmed and consumers choose to take other substitute for bread for the staple diet in Asia and thus making the market share for bread drop rapidly. Malaysian government has withdraw the sugar subsidy due to the increase diabetes among Malaysian people but politically it means that the government is trying to fill up their pocket by increasing the price of the sugar. Robert Kuok, the billionaire who holds the biggest share in state-agriculture has made tremendous amount of 1. billion profit and is made to be the suspect of this zero subsidy in sugar. Malaysian Indian Provision Shop Owners’ Association secretary M Thiagarajan said that “Abolishing the subsidy is like suddenly pulling out the rug from the floor. It would lead to price increase for more than 100,000 grocery items, at least. In the nutshells, market share for the export that involves sugar will rose steeply and thus making the market share goes down and international trade will be in jeopardize too.
Portfolio Management get essay help: get essay help
I express my sincere thanks to my college, AURORA’S BUSINESS SCHOOL for giving me this opportunity to work in one of the leading organizations in the financial services field. I thank our director, Dr. Ravi Paturi and also the faculty of ABS for their support. I thank India bull’s securities Ltd. for giving me the opportunity to work here and gain valuable experience in the corporate environment. I am thankful and feel very privileged for having Mr. Pavan Kumar as my assigned project guide. I thank him for the support and guidance he has given during this project.
The study is conducted to understand the construction process of portfolio and to know how a portfolio will help for an investor to maximize his returns rather than investing the money in a single company. I created a diversified portfolio in order to maximize returns by minimizing the risk. Firstly, I understand the concept of beta which explains the correlation between the market and a particular company stock. Based on the beta nature I have taken 40 stocks from national stock exchange, from which 20 company stocks are shortlisted to create a balanced nature of portfolio.
I have taken the past one year stock prices of all 20 company stocks and calculated the daily returns. I calculated the correlations for 20 stocks to know the degree of relationship between all 20 company stocks. To know the risk pattern between 20 stocks I have calculated the variance and standard deviation. Thereafter, I calculated the total variance of the portfolio which contains 20 stocks. In this project I came across with an excellent tool solver, solver is mainly used for linear programming, it is much like regression analysis it will try to optimize a solution.
In this project solver is used to derive the percentages of investment in all 20 stocks by optimizing the variance with some defined constraints. The virtual money taken for the investment in the portfolio is 100 crores. I calculated the weekly and monthly returns for the constructed portfolio. I evaluated the performance of the created portfolio with the existed different types of funds in the market. The portfolio is giving 2. 24 percentage returns for a month whereas Tata balanced fund is giving 0. 7 percentage return and reliance regular savings balanced fund is giving 0. 5 percentage return.
Journey of Indian stock market Indian Stock Markets are one of the oldest in Asia. Its history dates back to nearly 200 years ago. The earliest records of security dealings in India are meager and obscure. The East India Company was the dominant institution in those days and business in its loan securities used to be transacted towards the close of the eighteenth century. By 1830’s business on corporate stocks and shares in Bank and Cotton presses took place in Bombay. Though the trading list was broader in 1839, there were only half a dozen brokers recognized by banks and merchants during 1840 and 1850.
The 1850’s witnessed a rapid development of commercial enterprise and brokerage business attracted many men into the field and by 1860 the number of brokers increased into 60. In 1860-61 the American Civil War broke out and cotton supply from United States of Europe was stopped; thus, the ‘Share Mania’ in India begun. The number of brokers increased to about 200 to 250. However, at the end of the American Civil War, in 1865, a disastrous slump began (for example, Bank of Bombay Share which had touched Rs 2850 could only be sold at Rs. 87).
At the end of the American Civil War, the brokers who thrived out of Civil War in 1874, found a place in a street (now appropriately called as Dalal Street) where they would conveniently assemble and transact business. In 1887, they formally established in Bombay, the “Native Share and Stock Brokers’ Association” (which is alternatively known as “The Stock Exchange “). In 1895, the Stock Exchange acquired a premise in the same street and it was inaugurated in 1899. Thus, the Stock Exchange at Bombay was consolidated. Growth pattern of Indian stock market: Company profile
BRIEF HISTORY OF THE INDIA BULLS Indiabulls Group is one of the top business houses in the country with business interests in Real Estate, Infrastructure, Financial Services, Retail, Multiplex and Power sectors. Indiabulls Group companies are listed in Indian and overseas financial markets. The Networth of the Group exceeds USD 3 billion. Indiabulls has been conferred the status of a “Business Superbrand” by The Brand Council, Superbrands India. Indiabulls Securities Limited is India’s leading capital markets company with All-India Presence and an extensive client base.
Indiabulls Securities possesses state of the art trading platform, best broking practices and is the pioneer in trading product innovations. Power Indiabulls, in-house trading platform, is one of the fastest and most efficient trading platforms in the country. Indiabulls Securities Limited is the first brokerage house to be assigned the highest rating BQ – 1 by CRISIL. Indiabulls Financial Services is an integrated financial services powerhouse providing Consumer Finance, Housing Finance, Commercial Loans, Life Insurance, Asset Management and Advisory services.
Indiabulls Financial Services Ltd is amongst 68 companies constituting MSCI – Morgan Stanley India Index. Indiabulls Financial is also part of CLSA’s model portfolio of 30 Best Companies in Asia. Indiabulls Financial Services in partnership with MMTC Limited, the largest commodity trading company in India, has set up India’s 4th Multi-Commodities Exchange. Indiabulls Real Estate Limited is India’s third largest property company with development projects spread across residential projects, commercial offices, hotels, malls, and Special Economic Zones (SEZs) infrastructure development.
Indiabulls Real Estate partnered with Farallon Capital Management LLC of USA to bring the first FDI into real estate. Indiabulls Real Estate is transforming 14 million sqft in 16 cities into premium quality, high-end commercial, residential and retail spaces. Indiabulls Real Estate has diversified significantly in the following business verticals within the real estate space: Real Estate Development, Project Advisory & Facilities Management: Residential, Commercial (Office and Malls) and SEZ Development.
Power: Thermal and Hydro Power Generation. Profile of India bulls securities limited Indiabulls Securities Ltd is India’s leading capital markets company with All-India Presence and an extensive client base. The company is engaged in the securities brokerage industry. They provide range of services to their clients in securities brokerage, including equities, commodities, wholesale debt, futures and options, depositary services, research services, insurance, initial public offering (IPO), and mutual fund distribution.
Indiabulls Securities Ltd is the first and only brokerage house in India to be assigned the highest rating BQ-1 by CRISIL. The company acts as financial consultant and manages the funds of investors. They also provide investment planning, tax planning and portfolio investment services. Power Indiabulls is an online trading system designed for the high-volume trader, which provides trade information and order execution on an integrated software-based trading platform.
Indiabulls Securities Ltd was incorporated as GPF Securities Pvt Ltd on June 9, 1995. The name of the company was changed to Orbis Securities Pvt Ltd on December 15, 1995 to change the profile of the company and subsequently due to the conversion of the company into a public limited company, the name was further changed to Orbis Securities Ltd on January 5, 2004. The name of the company was again changed to Indiabulls Securities Ltd on February 16, 2004 so as to capitalise on the brand image of the term ‘Indiabulls’ in the company name.
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A party I have attended I don’t like paties very much so I don’t attend many. However, I never forget my brother’s 8th birthday party . The party was celebrated at the garden of my house on the third Sunday of June. It’s a beautiful evening with clear sky and light winds. After helping my mother prepare the party, I dressed up and waited for guests with my brother Hai. He looked excited in a white shirt and jeans but a bit nervous. At about six o’clock, everybody wearing their nice clothes turned up in full numbers: my parents, my aunt and uncle, my cousin, Hai’s friends and I.
Our garden was decorated very beautifully. Colourful balloons and lights were everywhere. Hai started the party by playing the Bagatelle No. 25 by Beethoven “For Elise”. The melody was so beautiful that everyone gave him a big hand when it ended. After that, I brought out a lovely birthday cake. Hai made a “birthday wish” and blew the candles on the cake while all of us were singing the song “Hapy birthday”. A lot of delicious food and soft drinks were served. We talked happily while the kids were playing blind-man’s-buff. It was getting darker and darker.
The lights twinkled together with the stars in the night sky. But in my heart, the most sparkling star is my brother. Finally, the party came to an end. All of us were tired but happy. However, my parents must have been more tired because of the mess we had made. Topic: A party I have attended I don’t like paties very much so I don’t attend many. However, I never forget my brother’s 8th birthday party . The party was celebrated at the garden of my house on the third Sunday of June. It’s a beautiful evening with clear sky and light winds.
After helping my mother prepare the party, I dressed up and waited for guests with my brother Hai. He looked excited in a white shirt and jeans but a bit nervous. At about six o’clock, everybody wearing their nice clothes turned up in full numbers: my parents, my aunt and uncle, my cousin, Hai’s friends and I. Our garden was decorated very beautifully. Colourful balloons and lights were everywhere. Hai started the party by playing the Bagatelle No. 25 by Beethoven “For Elise”. The melody was so beautiful that everyone gave him a big hand when it ended.
After that, I brought out a lovely birthday cake. Hai made a “birthday wish” and blew the candles on the cake while all of us were singing the song “Hapy birthday”. A lot of delicious food and soft drinks were served. We talked happily while the kids were playing blind-man’s-buff. It was getting darker and darker. The lights twinkled together with the stars in the night sky. But in my heart, the most sparkling star is my brother. Finally, the party came to an end. All of us were tired but happy. However, my parents must have been more tired because of the mess we had made.
Rural Entrepreneurship-Opportunities and Challenges essay help: essay help
The rural population constitutes a major segment in India. The livelihood strategies of this vast segment depend primarily on agriculture and allied activities. Growth in this agriculture sector has shown a declining trend during the last one decade. This has made a huge impact on the domestic production, employment, etc. These problems can be tackled, to a certain extent, by developing entrepreneurship in Rural India.
This dissertation is concerned with the distinctive challenges and opportunities of developing entrepreneurship in rural locations, and also provides the necessary suggestions that can be used in this context. Introduction India is the 2nd most populous country in the world and has about 70% of its population in villages. But, in the recent years, the % of population migrating to urban areas has increased considerably.
Various social, economic, political and ecological problems in rural areas in developing countries like India create challenges in employment and cause increasing migration towards cities, decreasing agricultural production and increasing food shortage. This is the scenario faced not only in India, but all over the world. According to the 2001 Rural Poverty Report (RPV), 75% of the world’s poor live and work in rural areas, and the majority will remain so for several decades (IFAD Rural Poverty Report, 2001; IFAD 2002). The International Fund or Agricultural Development (IFAD) stressed the need for developing poverty-reduction policies and programs with a primary emphasis on rural areas (IFAD Rural Poverty Report, 2001). Rural areas in developing countries are experiencing poverty and depopulation, are geographically more isolated, require infrastructure and subsidies, and have a lack of structural and institutional factors (IFAD Rural Poverty Report, 2001). A sustainable reduction in rural poverty necessitates the adaptation of further research and programs that help promote economic growth and development.
Prior research indicates positive strong relationships among entrepreneurial activity, economic growth and poverty reduction (UNICD Task Force, 2002). Hence entrepreneurship in rural areas has to be increased so as to improve the condition of rural India, thereby helping the nation in achieving overall growth and prosperity. Although agriculture today still provides income to rural communities, rural development is increasingly linked to enterprise development.
Since national economies are more and more globalized and competition is intensifying at an unprecedented pace, affecting not only industry but any economic activity including agriculture, it is not surprising that rural entrepreneurship is gaining in its importance as a force of economic change that must take place if many rural communities are to survive. WHY ENTREPRENEURSHIP Entrepreneurship plays an important role in the economic growth and development of nation. It is a purposeful activity includes in initiation, promotion and distribution of wealth and service.
An entrepreneur is a critical factor in economic development and an integral part of the socio-economic transformation. It is a risk taking activity and challenging tasks, needs utmost devotion, total commitment and greater sincerity with fullest involvement for his personal growth and personality. In brief, entrepreneurship is required for the following reasons: • To improve backwardness of the people. • Economic development of the region. • To analyse resource utilization. • Proper utilization of human potentiality. • Special attention to take up new activities. To create self-employment and generation of employment opportunity. • Eradication of regional imbalances. • Better economic gain. Entrepreneurship is usually understood with reference to individual business. Entrepreneurship has rightly been identified with the individual, as success of enterprise depends upon imagination, vision, innovativeness and risk taking. The production is possible due to the cooperation of the various factors of production, popularly known as land, labour, capital, market, management and of course entrepreneurship.
The entrepreneurship is a risk-taking factor, which is responsible for the end result in the form of profit or loss. Entrepreneurial orientation to rural development, contrary to development based on bringing in human capital and investment from outside, is based on stimulating local entrepreneurial talent and subsequent growth of indigenous companies. This in turn would create jobs and add economic value to a region and community and at the same time keep scarce resources within the community.
To accelerate economic development in rural areas, it is necessary to increase the supply of entrepreneurs, thus building up the critical mass of first generation entrepreneurs (Petrin, 1992), who will take risks and engage in the uncertainties of a new venture creation, create something from practically nothing and create values by pulling together a unique package of resources to exploit an opportunity. By their example they will stimulate an autonomous entrepreneurial process, as well as a dynamic entrepreneurship, thereby ensuring continuous rural development.
It is important to stress that rural entrepreneurship in its substance does not differ from entrepreneurship in urban areas. Entrepreneurship in rural areas is finding a unique blend of resources, either inside or outside of agriculture. This can be achieved by widening the base of a farm business to include all the non-agricultural uses that available resources can be put to or through any major changes in land use or level of production other than those related solely to agriculture. Thus, a rural entrepreneur is someone who is prepared to stay in the rural area and contribute to the creation of local wealth.
To some degree, however, the economic goals of an entrepreneur and the social goals of rural development are more strongly interlinked than in urban areas. For this reason entrepreneurship in rural areas is usually community based, has strong extended family linkages and a relatively large impact on a rural community. Many examples of successful rural entrepreneurship can already be found in literature. Diversification into non-agricultural uses of available resources such as catering for tourists, blacksmithing, carpentry, spinning, etc. s well as diversification into activities other than those solely related to agricultural usage, for example, the use of resources other than land such as water, woodlands, buildings, available skills and local features, all fit into rural entrepreneurship. The entrepreneurial combinations of these resources are, for example: tourism, sport and recreation facilities, professional and technical training, retailing and wholesaling, industrial applications (engineering, crafts), servicing (consultancy), value added (products from meat, milk, wood, etc. ) and the possibility of off-farm work.
Equally entrepreneurial, are new uses of land that enable a reduction in the intensity of agricultural production, for example, organic production. EXAMPLES OF RURAL ENTREPRENEURSHIP Muhammad Yunus became an entrepreneur when he started a micro-loan program for the poor villagers in a rural part of Bangladesh named Grameen, with only US$26. The loan was divided among 42 villagers to assist them to buy small items such as combs, scissors, needles and other necessities to start their own home businesses. In the past 22 years, Grameen Bank has grown with over $2 billion loans granted.
It has now become a model for several micro-loan facilities. Yunus created banking and lending facilities in Grameen specifically for the poor villagers. Banking and lending money activities are not new but Yunus was the first to provide such facilities in a rural part of Bangladesh and that is definitely innovation and risk-bearing on his part as a social entrepreneur. Mr. P. K. Ravi, a mechanic by profession, has developed a mechanical pepper thresher which is popular among pepper growers in Karnataka, Kerala and Tamil Nadu. Priced at Rs. 0,000, the machine has become an instant hit, mainly because of its affordable price and efficiency. Compared to conventional threshers, Ravi’s invention has a number of advantages, the machine can be operated both automatically and manually. The Scientists of Peermadu Development Society (PDS), an NGO based at Idukki, documented the thresher in detail and recommended it to the National Innovation Foundation (NIF) for an award. Mr. Ravi was finally conferred a national award in 2007. “NIF has also sanctioned a loan from its micro venture innovation fund for scaling up his invention.
OPPORTUNITIES “Opportunity does not knock twice” is the age old saying. In the present day scenario, one has to create opportunities and not just wait for the opportunity to knock. In India, there are a variety of opportunities for rural entrepreneurship and many more can be created. One has to take inspiration from the existing opportunities and go ahead in creating new avenues. Only then will there be successful entrepreneurship. Some of the many entrepreneurial opportunities in rural India are discussed hereunder. ? Tourism Tourism is a booming industry in India.
With the number of domestic and international tourists rising every year, this is one hot sector entrepreneurs must focus on. India with its diverse culture and rich heritage has a lot to offer to foreign tourists. Beaches, hill stations, heritage sites, wildlife and rural life, India has everything tourists are looking for. The rural entrepreneurs must make the most of this by using innovative methods to attract tourists to rural areas and thereby generating revenues ? Ayurveda and traditional medicine India is well known for its herbal and ayurvedic products.
With increasing awareness about the ill-effects of allopathic medicines, there is a huge demand for cosmetics, natural medicines and remedies. The availability of various medicinal plants in the country side provide for better entrepreneurial opportunities in this field. ? Organic farming Organic farming has been in India since a long time. The importance of organic farming will grow at a fast pace, especially with many foreigners preferring only organic products. Entrepreneurs can focus on business opportunities in this sector.
There are many small-time farmers who have adopted organic farming but the demand is still unmet, offering many opportunities for those who can promote organic farming on a large scale. ? Textiles India is famous for its textiles. Each state has its unique style in terms of apparels. India can grow as a preferred location for manufacturing textiles taking into account the huge demand for garments. Especially, the demand for khadi, silk, etc.. is extraordinary. Kanchipuram, Banaras silk, are famous worldwide for their beauty and quality. Places like Tirupur and Ludhiana are now export hubs for textiles.
A better understanding of the markets and customers’ needs can boost growth in this sector. ? Floriculture India’s floriculture segment is small and unorganized. There is a lot to be done in this lucrative sector. The global trade in floriculture products is worth $9. 4 billion. With a 8 per cent growth, it is expected to grow to $16 billion by 2010. India’s share in world trade is just 0. 18 per cent. This is a huge market to be tapped considering the rising demand for fresh flowers. More awareness and better farming and infrastructure can boost exports. ? Toys
Another evergreen industry is toy manufacturing. India has potential to manufacture cost effective and safe toys for the world. With Chinese toys being pulled up for toxins, the market for safe and good quality toys beckons Indian entrepreneurs. Especially, the hand-made toys in the rural India are a special attraction in the market. ? Biotechnology After the software sector, biotechnology opens a huge potential. Entrepreneurs can look at a plethora of options with the application of biotechnology in agriculture, horticulture, sericulture, poultry, dairy and production of fruits and vegetables. Energy solutions In a power starved nation, the need to develop cost effective and power saving devices is gaining more significance. There is a huge demand for low-cost sustainable energy saving devices as well. The government has already unveiled the National Solar Mission which has set a target of 20,000 MW of solar generating capacity by the end of the 13th Five Year Plan. Prime Minister Manmohan Singh had urged the industry to see the huge business opportunity and set up ‘Solar Valleys’ on the lines of the Silicon Valleys.
These solar valleys can become hubs for solar science, solar engineering and solar research, fabrication and manufacturing. So there is a big opportunity for entrepreneurs in this sector as well. ? Marketing of food products India’s mainstay is agriculture. Entrepreneurs can explore many options in the food grain cultivation and marketing segments. Inefficient management, lack of infrastructure, proper storage facilities leads to huge losses of food grains and fresh produce in India. Entrepreneurs can add value with proper management and marketing initiatives.
The processed food market opens a great potential for entrepreneurs be it fast food, packaged food or organic food. Fresh fruits and vegetables too have a good demand abroad. A good network of food processing units can help potential exporters build a good business. CHALLENGES ? A culture that does not support entrepreneurship. A supportive culture is vital for encouraging entrepreneurs. Without an environment that values innovation, entrepreneurs will become discouraged. Rural communities do value hard work and individualism, but can be skeptical of the changes and risks that entrepreneurs introduce into their communities.
Most of the rural population does not encourage risk taking. This leads to wastage of the skill and talents (physical and intellectual). ? Distance to market and services. Rural communities are isolated geographically from hubs that harbor large populations and provide services necessary to run a successful business. Technology is making it easier to meet this challenge, but it is still an obstacle for many entrepreneurs. ? Capital availability. The wealth available in rural markets is limited. It is, most of the times, not sufficient to meet the needs of the rural enterprises.
Most of the capital available for small businesses and entrepreneurs is located in metropolitan areas. Not only are entrepreneurs geographically distant from sources of capital, but the distance to market and services may make investing in their ideas seem unattractive to outside investors ? Non availability of support services. The smaller populations in rural areas make it difficult to access the services entrepreneurs need in order to succeed. For example, high-speed Internet access may not be available in a small town of 500 because the population is not large enough to support the service. Absence of other entrepreneurs. One of the most important aspects of entrepreneurship is learning from others who are encountering similar obstacles. The importance of networking cannot be stressed enough. From a technical standpoint, networking may lead entrepreneurs to resources they did not know were available. Networking can also offer entrepreneurs encouragement to continue their work, encouragement that may be especially important in a culture that does not value entrepreneurial activity. ? Absence of industry clusters. Industry clusters provide a source of competition and support.
While these two elements seem to oppose one another, they both boost the efficiency of businesses. Businesses clustered in the same region and industry compete with each other which fosters creativity and innovation. At the same time, the companies create opportunities for networking and resource sharing. Rural communities rarely encompass industry clusters and therefore cannot benefit from the resources they provide. ? Lack of Technical know how The level of literacy in rural population is very low as compared to the literacy level among their urban counterparts.
As such, the technical know how required to succeed in today’s global market is not available. This can be overcome by increasing the awareness of the rural population with regards to the technology available and its benefits. Providing constant training by the Government or NGOs will help the rural population to successfully overcome this challenge. ? Power Failure In most of the Indian villages, the power supply lasts only for a few hours. This is due to the vast demand and low availability. This problem can be solved when the alternate methods of power will be utilized.
Solar energy and Gobar gas can be substituted in the place of thermal power. This not only provides constant power supply, but also provides employment opportunities to people involved in manufacturing/constructing these alternate power units. ? Infrastructure Sickness The infrastructure of the rural areas in India is very poor. Be it the roads connecting rural and urban areas, or the telephone connections, the infrastructure has to be improved considerably in order to provide for better prospects in rural entrepreneurship. SUGGESTIONS Every activity has its own merits and demerits.
Similarly, rural entrepreneurship in India has many opportunities as well as challenges. Success can be achieved when one makes the best use of the opportunities available and finds methods to successfully overcome the challenges. However, the following suggestions aim at improving the situation of rural entrepreneurship in India. ? Make regions attractive. Initiatives should be developed to attract entrepreneurial people from other areas to set up businesses, using marketing and promotion of the districts to a targeted entrepreneurial audience and taking advantage of the local contacts they may have.
Local people currently living outside of the districts but who maintain family linkages should be a particular target group for such measures, because they will find it easier to recognise the quality of life and business opportunities the districts have to offer (e. g. lower living costs, access to grants, natural beauty) and may also have social reasons to return. ? Focus on identifying local and regional assets and converting them into entrepreneurial activity.
There is a tendency in economically challenged communities, including those in rural areas, to emphasize their problems and deficiencies, often as a means of attracting public sector investment and support. As a consequence, it becomes difficult to see opportunities that may translate into economic advantage. An intentional mapping of local and regional assets – even the poorest rural communities have some assets, whether human, social, physical, or financial – can yield possibilities that might attract entrepreneurial interest and help improve economic competitiveness.
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