How important does the coal trade appear to have been in the development of the port of Whitehaven from 1700 until 1900?

To do this part of the assignment I visited Whitehaven harbour to try and find evidence to answer this question. On this visit we went to many different places around the harbour that we thought would have a connection to the coal trade and the harbour. First, we visited the lime tongue, the name tells us that they imported lime for the iron industry and unloaded it on this pier. There is also another pier called the Sugar tongue, the name tells me that they imported sugar and unloaded it onto this pier. From this we can tell that goods were also imported into the port of Whitehaven. I know that from my background knowledge of coal that it would not have been possible to unload the coal onto either of these piers because they are too thin to unload heavy, bulky coal. To support the evidence further of having other exports and imports, we found drawings and inscriptions on benches down the lime tongue. These drawings included coal that we know was exported, tobacco that was imported from Virginia, timber which was imported from North America for the coal industry to be used as pit props and fish were exported. We also found the old Custom House, pictured right, which tells us that goods did come in to the port of Whitehaven and people had to pay custom duties on them. From all this evidence I can deduce that not only was coal exported from Whitehaven Harbour but other goods were also exported and imported into the port. By looking down at the harbour I could see that it was a very suitable place to have an inlet. The harbour has a big headland to protect it from prevailing winds and the size of the harbour would be very good for small boats. Another reason that it was a good place for an inlet is because it would have been a way of bringing business and money to the town of Whitehaven so they would get something back in return for building the harbour. From looking at the harbour I could see that it was quite small, not very wide, not very deep and wouldn't be suitable for bigger boats. This would be a problem for Whitehaven harbour, as by the 1870's steam ships were replacing the sailing ships. These steam ships were longer, wider, deeper and could carry more than the sailing ships which would mean that they wouldn't be able to get into the harbour so they wouldn't be able to load up the coal. By looking across the sea and from my background knowledge I think that most of the coal from Whitehaven went across the sea to Ireland. This could be especially to Dublin since this was Britain's second largest city in the eighteenth century. It could have also been taken to the Isle of Man since this is also only across the sea. Whitehaven harbour has only had the lock gates for about ten years, so before this boats could only come in and out of the harbour at high tide. As you can see from the picture, on the left, which I found in an old newspaper, the harbour would have been mud at low tide, so the boats would have been unable to move. From this I can tell that the Harbour must have stopped developing for the lock gates not to have been installed earlier, because the lock gates have been a big improvement to the harbour meaning boats can leave and enter the harbour when they wish. Whitehaven's hinterland extended to surrounding places like Egremont and most of West Cumbria because the roads were so bad this made more people want to transport the coal by boat. Before we went on the trip to Whitehaven we watched a video called ‘Sail to Steam' which showed the port of Liverpool and showed how its hinterland grew especially after the coming of the railways. Having watched this video I think one reason why Whitehaven's hinterland stopped growing was because Liverpool was taking trade away from Whitehaven. This was because it was a more accessible port for the bigger ships and also because Liverpool had lock gates, which meant ships, could go in and out of the harbour when they needed to. By looking at the map of the ‘building of the harbour' I can see that most of the harbour developed between 1693 and 1833 which is just about the period we are looking at. I think coal could have played a big part in the development of the harbour because this was about the time when coal mining was becoming popular in Whitehaven. They also needed a way to transport the coal from Whitehaven to places where they needed it, so they kept developing the harbour as the coal industry was developing and growing. The extra piers were built for the loading of coal when extra space was needed around the harbour for the various ships to land and wait to be loaded. This must have seemed an extremely good idea because then they could transport the coal to Ireland, which had little or no coal and was only over the channel. When we were walking around the harbour we found an old canon, which must have once been used to defend the port, this is pictured on the right. This tells me that Whitehaven's coal trade must have been very valuable for it to have been protected.e found some models linked to the story of John Paul Jones, which aren't really relevant to this assignment because they have nothing to do with the coal We also had an extract of John Paul Jones' diary to look at, in this extract it said about all the ships in the harbour (over one hundred) at low tide were unable to move because of the mud. This shows that in 1778 the harbour was very busy but there was a problem with low tides making boats unable to move. We also went to look for any evidence of warehouses and railway lines around the harbour but couldn't find any. We know they were once there because we have seen an old photograph of them. This suggests that Whitehaven's port has declined in industry because otherwise the warehouses would still be there but I wouldn't have expected any evidence of the railway lines. This is because the railways would not have been needed anymore once the coal mining had stopped. This then suggests to me that as the coal mining industry declined so did the amount of industry going in and out of the port. This tells me that coal mining had a big effect on Whitehaven's port and was also very important to it. From the graph I drew on the rise and fall of Whitehaven port I can see that the peak of the coal exported was in 1835, when the amount of coal exported was 459 thousand tons. After this date the amount of coal exported began to fall. This tells me that either the coal was being transported by another means of transport, such as the railways, or not as much coal was being mined in Whitehaven. Either way this tells me that the coal exports out of the port of Whitehaven was decreasing. On the visit we looked for evidence of drift mines (or adits), which are mines cut into the side of a hill held up by pit props, but we couldn't see any. This will have been because drift mines weren't very deep because of faulting, the risk of flooding and the danger of a roof fall so many of the drift mines will have collapsed and will have been flattened over. Also quite a few of the drift mines were on Mount Pleasant which is where later they built the houses for the coal miners to live. I also looked for evidence of straithes but couldn't find any. Straithes were used to load coal from trucks onto boats quickly, they were particularly important to the port of Whitehaven, which was tidal, because they needed to load the boats quickly to get them in and out on the same tide. The straithes will have been removed because they will have been no longer needed because there is no coal trade in Whitehaven now. We also went to look at Mount Pleasant, which is where all the miners lived but now there are no houses there. This would be because they would be no longer needed, because as the coal trade decreased fewer people would be employed so they didn't need the housing facilities. Mount Pleasant used to have 200 terraced houses, which were homes to 1825 people. Mount Pleasant was not far away from any of the mines so this would have made it very convenient for the workers to get to work. On the visit we went to look at the Duke pit fan house. We know this is connected to coal mining because Duke pit means there is coal. The job of the fan house was very important, it was to circulate the air down the mine. By looking at this picture of the fan house I have calculated that the actual size of the fan wheel would have been about 20-25ft wide. This tells me that it was a big pit, which would have had lots of coal to mine and would have had lots of employee's. As we were walking along I noticed evidence of an old railway incline, as you can see from the pictures the railway line would have ran from Haig pit down to the harbour for the coal to be loaded onto ships. This would have made it very easy to transport the coal. Although Haig pit operated after the period that I am investigating, it leads me to believe that other pits will have had railways or wagon ways down to the harbour. This will be because the harbour is not very far away from any of the mines and it would cost too much to transport the heavy coal on land especially since the roads were so bad. As we walked towards the Wellington pit entrance I found lots of covered over air vents. These air vents will have been used to get fresh air into the mines, which is a very important thing to have in a mine. We visited the entrance to Wellington pit, where I noticed a plaque on the wall telling me that the pit operated between 1840-1933. These dates during the pit was working are significant because it worked for nearly one hundred years. This is a very long time for a mine to work, so this tells me that the mine must have been big, and must have lots of coal to mine. Also to back up this evidence is the diagram ‘Underneath Wellington Pit', this shows that the pit was very deep and had lots of coal seams, which were quite wide. Wellington pit is very close to the harbour (about 100 yards) this tells me that this would have been the most convenient and cost effective way of transporting the coal to wherever it had to go. Wellington pit is also very close to Duke pit, which suggests that they could have been linked. I also went to look at the candlestick chimney, which is called this because it looks like a candlestick. If you look at the picture you can see that the chimney is very tall, this suggests to me that it is not only an air vent but also it was an exit for poisonous gases. This is so that the gases went higher than Mount Pleasant, which is where all the miners lived so that the miners did not get poisoned. I also found evidence that there were mining disasters on a plaque on the wall near Wellington pit. It told me that in 1910, 136 people died in the Wellington Pit disaster. This tells me that coal mining was very dangerous. Also, other evidence that shows us mining was dangerous is the building called the mission which used to be the hospital. This suggests that there must have been a number of accidents for a hospital to have been this close to the mines. If I had time then it would have been interesting to look for some of the remains of other pits that have something significant about them. The King Pit is interesting because in 1793 it was the deepest coal mine, as it was about 960ft deep. The Haig pit would have been interesting because it was the last pit to have been operating in the area and it went 7 miles under the sea. The Saltom pit would have been interesting because it was the first mine to mine coal under the sea. From all of this evidence I have come to a number of conclusions. I have concluded that coal was the main export and was exported in large quantities. There were also different imports at different times between 1700 and 1900. The evidence that proves this is the old customhouse where the imports had to pay custom duties on the goods imported also the lime and sugar tongues, tell us that sugar and lime, were imported. The graph on the rise and fall of Whitehaven shows that a lot of coal was exported. I have come to the conclusion that Whitehaven was perfect for the transportation of coal up until the late 1800's.The size and shape of the harbour and headland was just right for the small sailing boats, the headland protected these boats from prevailing winds. In the 1870's steam ships became popular, this would cause problems for Whitehaven as the harbour would have been too small for these big steam ships. The harbour was also perfect for transporting coal because it was close to all the mines in Whitehaven so this would mean that the coal would not have to travel far to be loaded onto the ships. I have also come to the conclusion that Whitehaven harbour was more important in 1700 and 1800 than it was in 1900. To support this is the graph the rise and fall of Whitehaven that shows us that the amount of coal that was exported. The amount of coal exported began to decline about the time of the railways and steam ships becoming popular, which could mean that the harbour wasn't being used as much for the export of coal and also because of the railways and steam ships Whitehaven's hinterland began to decrease. My final conclusion is that coal helped the harbour grow. Most of the evidence points to this, such as the building of the harbour at the time when coal mining was becoming popular. Also, when they stopped mining as much coal and they found other ways of transporting it, the harbour stopped growing and went into decline, this is why the lock gates were only just recently added to the harbour. From this I can tell that the industrial revolution must have also played a very important part in the development of Whitehaven Harbour. This is because if the industrial revolution hadn't happened then there would have not been a big demand for coal. So therefore the coal industry in Whitehaven might have never got as big and they might not have opened as many mines, which would mean that there would have been little point in developing the harbour for such a small amount of coal. This answers the objective of the whole assignment that the coal trade appears to have been very important in the development of the port of Whitehaven between 1700 and 1900 How useful were the site and other sources in helping you to the answer the question which is part 1? In part one of my assignment I considered what I could learn by visiting the harbour itself about why the port of Whitehaven had changed and developed up to the 20th century. The conclusion that I reached at the end of part 1 was briefly this: The coal trade had a very important part in the development of the harbour but there were other imports as well. Coal was not the only reason that the harbour stopped developing because things like the steam ships, which weren't accessible into the port of Whitehaven and the railways, stopped it developing. Also because of Whitehaven had no lock gates, which put it at a disadvantage. This meant that Whitehaven harbour was more important in 1700 and in 1800 than in 1900. I am now going to select some other sources to do with the port of Whitehaven and judge each one according to how useful it is in explaining the development of the harbour compared with the evidence of the harbour itself. The sources I have chosen to consider are: 1) The Beacon centre 2) John Paul Jones feature film 3) John Paul Jones diary 4) Census Results 5) Sail to Steam video The first source I will be considering is the beacon centre, which is a museum about the history of Whitehaven. The Beacon centre is relevant to the question because it does give information about the coal mining. The Beacon centre also contains information about the John Paul Jones raid, the slave trade, railways, ships, the Lowther family and much more. The Beacon centre is typical because it tells us about the history of Whitehaven and surrounding areas. It was opened in 1996 to inform people about the history of West Cumbria. I think that the Beacon centre was put there for tourism rather than for historians to find evidence. My evidence for this is because the Beacon centre has a rather big section on John Paul Jones compared to a relatively small section on coal mining. Even though the raid of John Paul Jones only lasted a few hours in the history of Whitehaven and the coal mining industry lasted over 200 years. So this tells me that the Beacon centre is trying to attract American tourists by having a large section on John Paul Jones, since this is why most American tourists come to Whitehaven to see where John Paul Jones raided. Other evidence of it being there for tourism is because when we went it was a free week so this means that it is trying to attract locals to visit it and see how good it is. This is so that when the summer season starts and tourists ask locals where to go to look around Whitehaven they will tell them to go to the Beacon Centre. This would mean that the Beacon centre would make more money. I think that this source is reliable because they wouldn't tell people about subjects that weren't true. Compared to the harbour, the beacon centre is not very useful in explaining the development of the harbour because it doesn't contain enough evidence since it is just there for tourism so it puts information in to it that people will be interested in and want to find out about. Now I will be judging an extract from the John Paul Jones feature film. This source is relevant because it does mention Whitehaven harbour. We saw an attack on Whitehaven harbour; the men in the attack burnt shipping to frighten British merchants so that they got British troops to guard the port. This was so that they got some of the troops away from America, so they had more chance of winning the war. This film was produced to make money because John Paul Jones would be popular with Americans so that would encourage more people to go and watch it therefore making more money. It was made in Hollywood and not even the raid on Whitehaven was actually filmed in Whitehaven. This tells me that the film was produced to make money because if it were for any other use than they would have spent the time and money to reconstruct the event in Whitehaven for the film. This source is reliable in one way in that the raid in Whitehaven did happen by John Paul Jones but we don't know the actual words that he said so the words on the film are unreliable. The film extract isn't typical because it isn't every night that Whitehaven would have had a big raid. Compared to the harbour, I don't think that this source was very useful because it was produced to make money rather than to inform us. The film extract didn't contain enough information about the development of the harbour like the size and shape of it and it didn't mention the coal trade. I am now going to judge an extract from John Paul Jones diary. It says that over one hundred ships were in the port on that night. The diary extract is relevant because it tells us what a typical night in Whitehaven Port was like. We know that it was typical because Whitehaven was not expecting a raid so it was just a normal night until it happened. John Paul Jones produced this diary and it was produced for his own purposes to write down about the day's events. And because it was a diary we can say that it is reliable because you wouldn't expect anyone to read your diary, so it was just written for his own purposes although he could have been bias towards his own country. I don't think that the diary extract was as useful at answering the question from part one than the harbour was. This is because although the extract gave us valuable information about the harbour at the time it didn't tell us about the coal trade or about the development of the harbour. All it tells us is that the harbour was busy and that it was low tide because the harbour was just mud. We watched a video called Sail to Steam, which I am now going to judge. This video was a documentary and although it didn't even mention Whitehaven it gave us information about the development and growth of Liverpool port which we can relate to the port of Whitehaven so it is relevant. It told us that the coming of the railways increased Liverpool's hinterland and that the lock gates improved the port because they no longer had to wait for the high tides to come in and out of the port. It also told us about the change from sailboats to steam ships that could carry more and were bigger. From this I could tell that Whitehaven was at a disadvantage because it didn't have lock gates, the port would have been to small for the big steam ships and the coming of the railways decreased Whitehaven harbours growth and hinterland. This documentary was produced to inform people about the changes from sail to steam especially in the port of Liverpool. From this I can tell that the information given is accurate and reliable because they wouldn't produce a documentary with inaccurate information. This source is typical because it shows how the port of Liverpool grew over the years. I think that although this source was useful in telling us why Whitehaven port might have stopped growing that it is not as useful as the harbour itself. This is because it doesn't contain information about Whitehaven port and its development and it doesn't tell us about Whitehaven's coal trade. I am now going to analyse the census results. The census results are relevant to the question in part one because they show us how many people lived on Mount Pleasant and it shows the different jobs they had. This then gives us an idea of how many people work down the mines and this then tells us how important the coal mining industry was to the people of Whitehaven. The census was produced in 1851 for the government, to inform them of how many people there were in the country. A census is an official count of the population so this tells me that the census is accurate and reliable because they wouldn't produce a census that was wrong because it would have been a waste of money. Although the census results are useful I don't think that they are as useful as the harbour itself because it doesn't give us enough information about the coal trade and it doesn't tell us anything about the harbour. If we could have had the resources I would have also liked to have had the figures for the amount of coal mined in the area between 1700 and 1900. This would have been useful because I could have compared it to the amount of coal exported from the port and then I could have seen just how much the harbour became more useful for the exportation and coal. Also I would have been able to look for a decline in the amount of coal exported compared to the amount mined when the railways became popular, to see if railways did take some of Whitehaven's hinterland away from it. I would also have liked to have had a diary extract from a person who worked down the mines. This would have been useful to find out the day to day workings of the mines. In part 1 I found that coal was very important to the port of Whitehaven but other things were imported as well but as steam ships became popular the harbour was at a disadvantage because the harbour was too small for these big steam ships. Also Whitehaven didn't have lock gates so this put it at a disadvantage because it meant the boats had to wait until high tide to come in and out of the harbour. This meant that Whitehaven harbour was more important in 1700 and 1800 than in 1900. I have concluded for this part of the assignment that the beacon centre is only there to attract tourists and to make money. I have also concluded that the John Paul Jones video is also just a way of making money and not about informing historians about the raid on Whitehaven harbour. My conclusion of John Paul Jones diary extract is that although it was useful in telling me about a typical night in the harbour it does not contain enough information about the harbour or about the coal trade. I have also concluded that the sail to steam video was useful in telling me about the development from sail boats to steam ships but it did not contain any information about Whitehaven. I have come to the conclusion that although the census results tell us a lot of information about the amount of people living on Mount Pleasant and the amount of people working down the mine it doesn't give us sufficient evidence to answer the question that is part 1. My conclusion that the visit to Whitehaven harbour was much more useful to me in answering the question that is part 1 than any of the other sources. Whitehaven harbour contained lots of unwitting evidence about the harbour and how it developed between 1700 and 1900. It also gave me a lot of information about the coal trade and how it relied on the harbour to be exported. This source contained information about both the harbour and the coal trade so this makes it very useful and also reliable because we can see the evidence. This source is also typical because it contains the remains of things (like the mines) that were actually there between 1700 and 1900

Financial to people who are living in poverty Essay

1. Introduction Microfinance is the provision of financial to people who are living in poverty. The system is providing small loans to poor person who want to expand their business. A series of financial service include loaning, saving, insurance and so on. There are two main characteristic on microfinance. Firstly, it is focus on below average income person or poor person for their customers. Secondly, it must ensure that the possibility of its own sustainable development. The beginning of the activity was most closely associated with economist Muhammad Yunus in 1976. He was born in Bangladesh. Between 30 years, the success of Grameen Bank which was built by Yunus was noticed by the world. Then, microfinance has covered nearly development countries and some developed counties. In the case of the text book, microfinance was present by two extreme parts, macro success and global mess. For the macro success, lender loaned money to women in order to support their family. Then, much family got rid of po verty. By 2001, more than 7,000 microfinance institutions had served 120 million borrowers around the world. On the other hand, there are two debates lead to huge problems. Firstly, most of microfinance institution’s new shareholders were rich investors. Secondly, several competitive microfinance institutions loaned money to the same uneducated clients, if crop or ventures fail, clients would face crushing debt loads. For example, in some parts of India, almost 80% of borrowers were in default. 2. Case question 1 Therefore, what happen about microfinance? Does it macro success or global mess? 2.1 SWOT analysis For the critical thinking of microfinance is SWOT analysis. SWOT analysis may help us know more about microfinance totally. There are two strengths for microfinance, the first one is that helped in decrease the poverty. The target of microfinance is to provide loans to poor people who want to start small business but cannot able to receive commercial bank help. For example, more than 350 million people in Indian below average income. The microfinance institutions offer the opportunity to them to start their own business. So, microfinance helps in decrease the poverty. The second one is that promoting the development of local community. If every individual who receive small loans to become rich, the development of local community will be promoted. There are two weaknesses about the microfinance. First of all, it is not proper regulated on banking process. Due to lack of efficient rules and regulations there would lead to high case of credit risk and defaults. Moreover, microfinance institutions focus on less people only. For example, India’s 70% of people live in the village, that is to say that most of poor area haven’t been touched. For the opportunity of microfinance, there are two main points also. Initially, it still has huge untapped market. For example, Pakistan’s microfinance industry was developing faster already, with an expansion of nearly 47 percent during 2007 (AbanHaq, 2008). By the end of 2008, the borrowers had been extended to 1.7 million (Meher Shah, 20 09). In addition, some small business which were loan from Microfinance institutions would provide much more employment opportunities. Microfinance institutions not only loan money to individual to start their business but also help in the increase the employment opportunity to them. There two threat analysis about microfinance as well. The first one is that over involvement of government. For example, in Indian, bank had freeze on credit to micro lenders for many times, it led to Indian’s microfinance industry pushed to the brink of collapse (India’s microfinance sector under threat, 2010). Furthermore, it is a high competition industry. For example, Indian’s commercial bank normally provides about US$ 133 a week in credit to the microfinance industry (India’s microfinance sector under threat, 2010). So, it is cause to high competition for much more applicant. 2.2 Why has microfinance been quite successful on worldwide basis? In the study case, 84% of microloan recipients are women(D’Espallier, Guà ©rin, & Mersland, 2011). Therefore, it is easily find that most of microfinance institutions target to women. This is because that repayment is higher among female borrowers, they usually do more conservative investment and reduce moral hazard risk(D’Espallier, Guà ©rin, & Mersland, 2011). On the other hand, when women improve their circumstances, they also improve the lives of their children. So, by investing in nutrition and education, they can help to create a better future for their children and their communities. Furthermore, many microfinance institutions help much poorest families get rid of poverty. It is â€Å"to ensure that 175 million of the world’s poorest families, especially women, receive credit for self-employment and other financial and business services†(D’Espallier, Guà ©rin, & Mersland, 2011). Thus, it absorbs global attention. In addition, the success of the Grameen Bank of Bangladesh indicated that a new business model had been created. Until recently, Grameen has reported repayment rates of 98% and serving over much more function to poor person (Morduch, 1999). This new business models was imitated by the world. 3. Case Question 2 Using agency theory, identify the area or improvement for the government of certain MFI have be found to engage in questionable practice. Microfinance institution is a party that helping poverty to do business by offering mini-loan. It is an agency of not only providing finance service to support poverty but also an organization contributes to society. The main problem of lending money to pool people is high risks of returning the money. The pool people, who are lack of educations, experience and need more train to return to the job. As an agency the â€Å"principal† (top managers) require profit while loan office is less concern about the interest. 3.1 Agency theory Agency theory explains the relationship between principals and agents. The objective about this theory is to identify and resolve the problem and conflict between principal and the agent of the principal. The two problems agency theory addresses are: * Problem of desire goal of principal and agent are in conflict. * Problem of different acts in managing the risk. This theory had been used in examining the relationship of agency, define as â€Å"a contract under which one or more persons (the principal) engage another person (the agent) to perform some on their behalf which involves delegating some decision making authority to the agent† (Jensen & Meckling, 1976) The following equation shows the result of problem come from. The utility of the principal will focus on return, whereas the utility of the agent will focus on the income. Agent wants to increase the income while the principal refers to more return. As the result, there is a trade-off exist in between. UP (R) = 1/UA (I) UP = Utility of the principal UA= Utility of the agent R = Returns I= Income In consequent, to resolve the problem is to design the ideal contract. There are two types of contracts design for such problem: behavior-based contracts and outcome-based contracts. Behavior-based contract, the principal monitor, measure and reward the base on the agent’s behavior (Bergenetal, 1992). The outcome-based contract, the agent will be rewarded according to the realized outcome (Bergenetal, 1992). 3.2 Porter’s Five Forces Porter’s five forces is concept for analyzing industry and developing strategy of a company to position business. Base on this concept to understand microfinance industry environment. Investors always seek for return; the industry environment will impact how efficient the decision made for profit. Source:(Porter, 1979) Suppliers (High) There are many investors in market; those can divide into two types, commercial investor and faith investor. The faith investors are not seeks for profit, but long term poverty alleviation. (Cranenburgh, 2010)Commercial investors are looking for return because the capital market is cheaper. Unfortunately there are most MFI remain lending money to pool people are informal which the stakeholder are commercial investor. Threat of new entrants (High) Commercial investors are better in positioning that they have better access than financial service expertise. Low entrant capital require lead to low entrant standard require. The investors seeks return, it cause high impact in investment. Commercial investors look for short term invest, and it can be re-enter for commercial investment as a cycle. Threat of substitute (Medium) Poor people need money of making living and other social purpose (education, insurance, sickness.eg) for life long. In India, the Reserve Bank of India (RBI) provides life insurance for poverty to improve the life expenses under the microfinance category. In many other countries, MFI design new financial service according to the need of poverty which charge very low interest. Internal rivalry In fact, the intensity of competition is depends upon the size of the company in the game. As entrant barrier low, the major operators in industry are informal institution (SHGs, MFI and NGOs). The competition will increase when an established organization goes into market and implement promotional strategy for boosting out of bad situation as it is weak. In additional, some formal bank start to do financial support with the help of other commercial organization like provide loan for SHGs. This factor will attract more operators in market. 3.3 Challenge Facing by Microfinance The microfinance system is separated in three levels: micro, meso and macro. To understand the function of those levels activity, identify the challenge MFIs are facing by governance. Source: Adapted from Helms, Access for All The micro level activity includes both perspectives of clients and MFI. The problem comes out from the borrower’s perspective is limitation of financial support. This would cause predatory lending practices. From the clients’ perspective, the problem relate to the managerial experience of clients, how they manage the funds and sustainable funds. The meso level is about services and infrastructures. The MFI need strong backup to support ongoing financing lending process. Limited capacity would terminate the funds to borrower. The macro level consists of central bank, finance ministries and other financial department. The problem comes out the potential risk when new policy established (monetary and currency, egg). The failure of systemic function would lead to a collapse of MIFs. 4. Case Question 3: ON ETHICS: Given the criticisms that â€Å"the rich have literally profited from the dirt poor†. Do you have any reservations about investing in MFIs that have gone through IPOs? Microfinance is a key thing that can help people living in poverty to become financially independent. It is better able to provide for their families in times of economic difficulty. Considering nearly half of world in less than two dollars a day to survive, microfinance is an important solution. However, microfinance has its shortcomings. Thus, in our opinion about this question, we are neutral. Here are advantages and disadvantages in below. 4.1 Advantages Access Banks will not extend loans to those with little or no assets, and generally so not engage in small size of loans associated with micro-financing companies. Microfinance is based on the concept that even small amounts of credit can help end the vicious cycle of poverty. Extending education Families receiving microfinance are less likely to pull their children to leave school for economic reasons. Improve health and welfare Microfinance can lead to better access to clean drinking water and better sanitation, and providing better access to health care as well. Sustainability In the developing country, even a small working capital loans $100. It can be launch a small business. Benefactors can help pulling themselves and their families out of the poverty. For example, a 19-year-old girl named Salamatu, from Sierra Leone started selling rice business (Kate, 2011). When her father and brother died, she could not pay the school fees by her own. She joined a local saving and Loans Group Plan in her community. This group can give small loans to them. Salamatu took out two loans. One is starting a small rice selling business and one is paying for her school fees (Kate, 2011). Job creation Microfinance can help create new jobs. It has a beneficial impact on the local economy. 4.2 Disadvantages Some investors who are interested in specific microfinance IPO must be wary (wise GEEK, 2012). Because some microfinance institutions are free with funding to the poor, but require excessive interest payments in return. This can put a person into a wore financial hole. This would cause social unrest. MFIs in India increased the risks. MFIs might face increased pressure to provide the assets and income growth (Jennifer, 2010). Thus it would increase default risk. In addition, because of high yield investors’ interests, microfinance institutions issuing high risk loans. This could cause valuation issues. However, lenders often could not perform. Because India does not have national systems that track the borrower’s credit history (Jennifer, 2010). 5. Conclusion Firstly, we give the reason of microfinance has been successful. Secondly, we identify the areas for improvement of MFIs. Then, we provide the two parts – advantages and disadvantages. Some considering buying into microfinance IPO should be carefully examined, and understand the company and its specific practices, then proceeding. Microfinance is not always appropriate. For extreme poor, or those who are sick or unable to work, microfinance may not be an appropriate tool. Bibliography India’s microfinance sector under threat. (2010, November). Australian Banking & Finance, p. 20. Cranenburgh, K. C. (2010). Analysis of the Microfinance Sector Faith Institutions and Impact Investing. International Interfaith Investment Group, 37-38. D’Espallier, B., Guà ©rin, I., & Mersland, R. (2011, 5). Women and Repayment in Microfinance: A Global Analysis. World Development, pp. 758-772. Haq, A. (2008). Microfinance Industry Assessment: A Report on Pakistan. Islamabad Pakistan: Pakistan Microfinance Network (PMN). Jongbloed, K. (2011). DIY Banks Make Education Possible For Girls. Retrieved from http://blog.becauseiamagirl.ca/diy-banks-make-education-possible-for-girls Meher Shah, A. N. (2009). Spot light on microfinance. Micro note. Islamab: Pakistan Microfinance Network (PMN). Morduch, J. (1999, October). The role of subsidies in microfinance: evidence from the Grameen Bank. Journal of Development Economics, pp. 229-248. Shevock, J. (2010). Microloan Default Risk Rises in India as SKS Microfinance Plans Initial Public Offering (IPO). Retrieved from http://www.microcapital.org/microcapital-brief-microloan-default-risk-rises-in-india-as-sks-microfinance-plans-initial-public-offering-ipo/ WiseGEEK. (2012). What Is a Microfinance IPO? . Retrieved from http://www.wisegeek.com/what-is-a-microfinance-ipo.htm

Human Biology Digestive and Urinary System Essay

Abstract The human body needs to maintain proper homeostasis to survive. There are several different organ systems in the human body. Two of those systems are the digestive system and the urinary system. Both systems remove waste from the body but in an entirely different way. They also maintain homeostasis within our blood stream. Both systems are critical for survival. This paper will describe how each of those systems works on its own and also how they work together to maintain homeostasis for the body.How the Urinary and Digestive Systems Work Together to Maintain Homeostasis The digestive system works to bring nutrients into the body with a series of hollow organs working together extending from the mouth to the anus. These hollow organs are the mouth, pharynx, esophagus, stomach, small intestine, large intestine, rectum, and anus. These hollow organs make up the gastrointestinal (GI) tract. The GI tract is aided by four accessory organs, the salivary glands, liver, gallbladder, and pancreas. Johnson) There are five basic processes of the digestive system. These processes are motility, secretion, digestion, absorption, and excretion. Motility is the mechanical processing and movement of food taken into the body. Chewing breaks food into smaller pieces, and two types of movement mix the contents of the lumen and propel it forward. The lumen is the inside lining of the GI tract. Secretion is the fluid, digestive enzymes, acid, alkali, bile, and mucus that are secreted into the GI tract at various places.Digestion is where the contents of the lumen are broken down mechanically and chemically into smaller and smaller particles, culminating in nutrient molecules. Absorption is what happens when the nutrient molecules pass across the GI tract and into the blood. Elimination is all of the undigested material is eliminated from the body through the anus. (Johnson) These GI tract and the four accessory organs of the digestive tract work together to complete the fiv e processes in order to bring nutrients into the body, and eliminate waste. The large intestine absorbs nutrients and eliminates waste.The small intestine absorbs nutrients and water. The water and nutrients absorbed from the intestines go into the blood stream . (Johnson) The urinary system consists of the kidneys, ureters, bladder, and urethra. The ureters, bladder, and urethra transport and store urine until it is eliminated from the body. The kidneys produce urine. Urine is the nitrogenous waste removed from the blood stream. It is essential to the body to remove this waste in order to maintain homeostasis. (Johnson) The kidneys perform all of the main functions in the urinary system.They regulate water levels in the body. When you take in water every day it is up to the kidneys to excrete the excess water or to conserve as much as possible. The kidneys have a great capacity to adjust water excretion as necessary. Normally with a minimum of a half liter per day to one liter per hour. (Johnson) The kidneys also regulate the nitrogenous waste and other solutes in our blood. One waste that is toxic to our cells is ammonia. Ammonia is detoxified quickly by the liver by being combined with carbon dioxide to create urea.Urea is the main waste product in urine. Sodium and chloride are both regulated by the kidneys as well. Sodium and chloride are both very important to determine the volume of extracellular fluids, like blood. This directly affects blood pressure. (Johnson) Other substances that the kidneys regulate are potassium, calcium, hydrogen, and creatinine. It is up to the kidneys to maintain homeostasis with each of these substances. Creatinine is a waste product that is produced during metabolism. This is one of the wastes that give urine a yellow color. Johnson) The digestive system removes nutrients and water from the food that we eat and drink and transports it to our blood stream. Any solid wastes that are unable to be digested are then eliminated fr om the GI tract. Our urinary system then removes any of the unwanted and unneeded substances and wastes from the blood stream and excretes them in urine. This is how homeostasis is maintained in our body with waste, so that there is no toxic build up in our body from certain substances. Homeostasis is critical to be maintained within the body for survival.Homeostasis is the body’s ability to maintain relatively stable internal conditions even though the outside world is continuously changing. (Marieb) All living things must maintain an internal environment compatible with life, and the range of chemical and physical conditions compatible with life is very narrow. (Johnson) In order for the digestive and urinary systems to work together to maintain homeostasis both systems must be functioning properly. First we consume food and water. Then our digestive system absorbs the nutrients and water into our blood stream.Once the nutrients and water is in our blood stream our urinary system the filters the blood and removes any additional waste and maintains the proper homeostasis with the nutrients we consume. If our digestive system is not functioning properly then we are not able to absorb the proper nutrients and fluids in order to allow our kidneys to filter our blood and maintain homeostasis. If our urinary system is not functioning properly than the nutrients and fluids we consume can cause a buildup in our blood stream of toxic wastes and fluids and throw off homeostasis.Either way it would be detrimental to our body for this to happen. Our blood pressure would be affected severely and this would cause issues with not only our cardiovascular system but also our respiratory system. It is critical to keep both systems healthy to ensure that our body’s have the proper water and nutrients to survive and that all waste is secreted from our systems. References Johnson, Michael D. Human Biology: Concepts and Current Issues-sixth edition. Pearson Educatio n. 2012. Print. Marieb, Elaine Nicpone. Essentials oh Human Anatomy and Physiology-tenth edition. Pearson Education. 2012. Print.

Performance measurement system Research Paper Example | Topics and Well Written Essays - 1250 words

Performance measurement system - Research Paper Example (Franceschini, Galetto, & Maisano, 2007) A statistical model needs to be developed to get results of performance and a full picture can never be measured directly and sometimes observation is the only way of coming to a conclusion about performance and you do not get figures to assess with. The main aim behind a performance management system is to better the performance of an organization. Communicating better in an organization and having a trustful relationship with your peers and bosses is not something that is directly linked to bettering performance than perhaps training individuals but they are indirect measures that will in the long run help to get to the final purpose of the organization. Some reasons to use PMS are to assess how an organization is performing; for this the managers in an organization need to determine what the organization was supposed to achieve. This means that the mission and vision statement of the organization should be clear. For this performance also, data is obtained from not only the observable performance but also the environmental hazards and also looking at the companies the organization had benchmarked itself against and seeing them as a comparative database. Ideally, the organization needs to be using the best practice which is the most efficient and cost effective process even in regards of health, safety and environment. Benchmark could also be the same organizations past and present performance with the same or different processes used. PMS also helps to keep the organization’s functions under control by making sure that managers and subordinates are doing what they are supposed to be doing. Managers do not have the hierarchical control that they used to have before however, taking space into account, they still use certain measures to control their business. Everyone must comply with these

Triumph of the Will absolve Leni Riefenstahl from responsibility for Essay

Triumph of the Will absolve Leni Riefenstahl from responsibility for its Nazi Propagandist impact - Essay Example This paper aims at reviewing this movie in light of the historical and philosophical context as far as the propaganda in it is concerned. To begin with, the proposition that this film absolves Riefenstahl from the propagandist role that this movie plays can be historically challenged. Even though Riefenstahl is in denial of having well understood the heinous nature of Adolf Hitler, history has its own reservations on the same. As such, her excuse can be dismissed as a simple and odd escapist’s excuse since someone with the creativity and originality akin to Riefenstahl’s is expected to see better, especially on an obvious issues such as the activities of the Nazis and create a film which opposes rather than supports such a movement. As it would be expected in a natural societal setting, Riefenstahl defends herself that she is not a propagandist and blames it all on her naivety and lack of knowledge on the real identity of Adolf Hitler and Nazism when she was forging out this piece of entertainment. On the contrary, one may find it necessary to argue out that this is just a way of freeing herself from the imminent guilt that she compromised truth so much in order to making money and gain fame using this film rather. Praising someone who is not humane might not trace one to a direct injustice but is tantamount to praising Satan, which does not leave him or her innocent anyway. As such, much as the content and style of this book might be delineating Riefenstahl from any form of propaganda, the historical and philosophical reality of the Nazi movement are in contradiction to what she presents. The fact that one of the major characters in this movie is Hitler himself leaves no doubt that Riefenstahl deliberately understood what burden of blame there was to carry as she produced this movie. In fact, this movie is a

Second midterm Essay Example | Topics and Well Written Essays - 750 words

Second midterm - Essay Example ar II, which also gets described as the short American century, represented a period of continuous prosperity for the American government and its economy. The shift in the international economic order has led to the US citizens’ increasing sense of disempowerment. The changes witnessed in the classical world economy have decreased the US government’s effectiveness in managing its economy. The change from the Bretton woods based international economic system to a greater international economic integration based system has seen the US lose grip on it domestic economy. The Bretton wood’s system had contributed to the US leading the international economic order between the 1940s and 1970s. The Bretton wood’s system had allowed America to focus on the politics of its national security through the international economic integration it promoted. Through the Bretton wood’s system, the US spent less of its money in rebuilding the economies of Western Europe and Japan. The collapse of the Bretton Wood’s system meant that the US had to put preference in international markets over its domestic considerations of national security. The new contemporary international economic world order has seen countries such as China and Singapore also emerge as serious global economic powerhouses. With the new found international economic system, the relevance of the dollar has dwindled as each and every country strives to use their currency as a means of trade. The US massive foreign debt has inflicted heavily on the predominance held before by its dollar as an international currency. The contemporary international economy that took over the American led Bretton Wood’s system has also allowed for almost every country in the globe to engage in international trade, finance, and investment (Frieden 153). Under the previous classical economic order, only the US and its closest allies had control in setting up terms for international trade. The changing global environment created

Two articles summary ( one page for each) Article

Two articles summary ( one page for each) - Article Example He gives the example of the episode, â€Å"A Streetcar Named Marge.† The episode uses allusions to A Streetcar Named Desire, Ayn Rand, The Great Escape, and Hitchcock’s The Birds. Matheson argues that these allusions are not for satire, but to capture deep meanings and to connect them to the story and the characters. These allusions are successful in keeping the humor tight and meaningful in The Simpsons. Apart from quotationalism, hyper-ironism shows the bleak humor of the show. Matheson asserts that modern society has â€Å"a pervasive crisis of authority,† which the show also describes through its undercutting of moral positions, including its own cynicism. He says that hyper-ironism is present in how The Simpsons attacks itself for its lack of strong and clear moral values and direction. Matheson argues that The Simpsons is funny because of its combination of quotationalism and hyper-ironism that see the society as it is, filled with cold and lost people tryi ng to hang on to traditional values while adapting new ones. Walter Benjamin provides a general history of the evolution of art. He asserts that changes in the economic structure have created changes in art. Like the economic structure, art is losing its essence, or â€Å"aura,† the inner force that comes from art’s uniqueness. He argues that mechanical reproduction has destroyed art by reinforcing oppressive socioeconomic systems. Benjamin explores the loss of art in the modern mechanical age. His first main point is that technology removes the purity of art. Technology makes art reproducible or mass-produced, which destroys art’s aura. Aura is lost in mass production because authenticity cannot be reproduced as it leads to the lost authority of the original maker. His second point is that art is as oppressive as the economic structure. Art is oppressive because it puts the masses in their controlled position, as they consume symbols and images that protect

MPH502 - Introduction to Public Health Module 1 - Case Essay

MPH502 - Introduction to Public Health Module 1 - Case - Essay Example d consequences on public whereas, personal health weighs the consequences and significance of health activities and effects of interventions as they impact an individual’s life and health conditions. The health awareness programs are of great significance for public health stability. The health interventions and awareness programs are making life of people healthier and better since knowledge about disease and epidemics empower them to abstain from health risking habits and attitudes. The awareness programs further work and benefit for a longer time period as the knowledge once gain profits people for an extensive time period. The information, education and awareness about health issues is being publicized by a number of programs including Safe and drug-free School programs, Let’s Move (obesity awareness program), Sex and HIV educational programs and so on. These programs help people realize the impact of certain dietary, intake and routine habits on their health and life. The information about the devastating effects of certain activities, stop them from repeating such habits and enable them to adopt healthier life style. Hence educational and awareness programs are of g reat importance in controlling and stabilizing the public health. The greatest reduction in morbidity and mortality is resulted as a decline in deaths from coronary disease. The reduction in coronary disease is accompanied by a reduced smoking population, a decline in blood pressure levels, improved medical care facilities and better dietary habits. Reduced smoking, better dietary habits and enhanced health care facilities did not only reduce the mortality rate by coronary disease but have also helped in stabilizing the worsening health conditions of public. However, alcoholism, obesity and stress are increasing the risk of coronary disease (AHA). Increasing trend of fast food, unavailability of healthy food and increasing stress level due to competition in the society and industry lead to

Data Security Essay Example | Topics and Well Written Essays - 2000 words - 1

Data Security - Essay Example The purpose of this report is to research the necessary solutions and to provide recommendations for management team. â€Å"Design Studio One is known as a leader in creative services, web design and web development in Atlanta since 2001. Located on Lenox Road in Buck-head near downtown Atlanta, they are committed to helping business development in the metro region, but their service and client base extends across the country. With their continual focus on quality and customer satisfaction, they consistently deliver successful solutions for their clients.†1 The company provides solutions in web designing, web hosting, search engine optimization, website maintenance and updates, logo design and print design. Customers are able to login through the website and gain the access to their control panel. In the client login section, customers are able to view the status of their project. They are also able to enter or modify their personal information such as email address and credit card number. This panel also gives the customer the ability to test their website temporarily on the server and give their feedback and request the company to modify the project easily. Although the current service is robust and customers have full control on their project, the management team noticed that some of customers complained about the security problem of both servers and control panel of the company’s website. Some of them had received so many bulk emails in their inbox from the support email of the company and some of them had lost their access to the control panel because their password and information was stolen by a third party. The management team at the company requested the server experts to check the security situation of the company on a weekly basis and the results of the primary research implied that the company’s server has approximately between

The politics of globalization of Brazil Essay Example for Free

The politics of globalization of Brazil Essay The world, which started in the form of tribes exchanging barters as trade, entered a modern scenario, and barter soon turned into exchange of gold and then eventually currency. With the period of time, the humble trade transformed into international deals, and which eventually started the age of globalization. The era of globalization brought the world very close, and the trade that seemed much distanced because of the detachment of continents, started commencing on daily basis, and every place in the world has now become reachable in hours. â€Å"Brazil†, one of the highlight of Latin America, has it share of chaos and confusion, but eventually with the course of time, it has dwindled itself in the colors of globalization. Brazil has had a very troublesome past, and after the colonial monarchy, the army crept in leading to numerous coups, which resulted in mass destructions and stumping of the economy. It has been only three decades since there has been proper regime that has been ruling the country, and has been providing a platform for business and trade to prosper in the nation. Brazil with due course of time has joined the trillion dollar economy, and is shaping up to become of the leading economies of the world. With its due course of time, Brazil silently has crept in the list of large economies, and currently it stands as the eight largest economy of the world. Brazil since the early 90’s started accelerating its prospects by splurging into the world economy and opening its huge market to the world. Brazil’s sudden significance to the world market made it entry into the G-20 and also into organizations like ‘Mercosur’ Globalization is just not one huge international trade fair anymore, and it has a lot of politics involved. The level of politics in globalization has different facets and different indicators, and each country with the amount of its strengths and weakness are weighed into the politics of globalization. The facets of politics of globalizations is best explained, when it is revealed that it is nothing much than anger of people in the underdeveloped countries of the world, of what they are seeing as the unfair distribution of wealth, education and resources and the increase in the gaps of the people falling into categories of haves and have-nots (Gail S. Schoettler, P. 1). The politics of globalization of any nation can be best understood on the basis of import prohibitions imposed by that particular nation. In the case of Brazil, it has a serious issue with automobile being imported, as it wants to protect its huge automobile market, which is very evident from the fact that in the year 2005 Brazil manufactured more than 1. 65 million cars only for its domestic consumption (Elisangela Cordeiro). Brazil doesn’t want cars to be imported in the country as it can seriously damage its very own market, posing a threat to its own economy, as automobile is one of the biggest manufacturing sectors in the country of Brazil, and if the ban is lifted for importing automobiles from other nations, then it can have several negative impacts on the Brazilian economy as well as Brazilian labor force. On the other hand Brazil maintains kind of a monopoly, when it comes to its exports, as Brazil is supposed to be the leading exporter of coffee, sugar, beef and orange juice. Brazil’s best example of playing the politics of globalization game, is by understanding the fact, that when the whole world, is trying to impose bans on the production giant China over the unsafe toys filled with lead content, which even includes the World Trade Organization, Brazil has no issue with the unsafe toy and Brazil’s ambassador to China has even made comments openly like â€Å" It’s necessary to avoid simplistic solutions, like championing protectionism, which is an ineffective tool in a globalize world† (Luis Augusto de Castro Neves, Reuters). The reason for this kind of attitude towards China is because Brazil has a huge market in the form of China for its iron ore and its soybeans production. This double standard of not only Brazil but almost all nations in the world of imposing prohibitions for imports, but want free trade scenarios for exports, show the depth of politics of globalization. Brazil on a global scene is moving towards huge figures in terms of trade, and it was estimated in the year 2005 that within a span of four years, Brazil had managed to double its exports from US$58 billion in 2001 to a whopping US$118 billion and within the same estimated period, Brazil has managed to curb its import levies and has managed to control imports from the rest of the world, in their booming economy, and have been able to manage import increase by only 30%, from US$56 billion to US$74 billion. Brazil has been taking the wrath of the United States of America in terms of its trade policies and import prohibitions, but again the politics of globalization can be seen from the fact that how much ever the tiff between these two countries over free trade, America tops the list in both segments of trade, i. e. import as well as export from Brazil. The country supposedly is very actively involved in its productions and manufacturing strengths, especially of automobiles, aircrafts, textiles and footwear. Basically the level of globalization is very different of that of an idealist, and now each country is only trying to protect its interests and actually has no regards for the impact of it callous attitude towards other countries. Brazil fundamentally thriving on its agricultural economy has to suffer because of the conflicts over farm subsidies and agricultural tariffs from the United States of America and other European countries. Brazil considers itself to be one of the developing countries and tries to connect to other developing nations on the basis of monopoly of the developed nations, be it on the basis of agricultural tariffs or import prohibitions. Brazil how much ever shows its dissent for the policies of the west, it tries to rally itself for trade to all the developed nation, and there is a huge hypocrisy, when it comes to trade, as both Brazil and the developed countries, how much ever disagree with each other’s policies, but both will be on one list of top imports and exports. Brazil though being part of the G-20 and Mercosur, was never actively involved, but with periodic trading coordination, Brazil has started taking active part in these institutions as of now, and it was seen that brazil has been participating in injecting a fresh lease and leading the confront from Mercosur on the lines of boosting trade, creating jobs and reducing poverty in Latin America. Brazil with all its highs and lows, is making a special place in this globalize world, though how much ever unpredictable is the entire trading scenario, Brazil is set to carve a niche in midst of all the politics, that the world has to offer in international trade. Work Cited: 1) Gail S. Schoettler, â€Å"Politics of Globalization†, November 2002, University of Colorado at Institute for International Business and Global Executive Forum Center for International Business Education Research, cudenver. edu/International/ /Documents/Politics_of_globalization. pdf 2) Elisangela Cordeiro, â€Å"Despite Crisis, Brazils Auto Industry Should Grow 5% This Year†, Thursday, 30 June 2005, http://www. brazzilmag. com/content/view/3004/54/ 3) â€Å"Brazil ambassador opposes quotas on China imports†, April 19th 2005, Reuters, http://asia. news. yahoo. com/070418/3/30itr. html 4) â€Å"Trade Policies†, U. S library of congress, http://countrystudies. us/brazil/80. htm

Advantages And Disadvantages Of Jvc Versus Wholly Owned Management Essay

Advantages And Disadvantages Of Jvc Versus Wholly Owned Management Essay When companies enter the international market, they are facing a very important decision-making. That is they enter the target market in which appropriate entry model. There are several entry modes to enter the international market. Two of them were discussed in the report: international Joint Venture Companies (JVCs) and wholly-owned subsidiaries. In light of the influence of the WTO with respect to relaxation of restrictions on foreign ownership across many industries in countries such as China and India, anecdotal evidence suggests that many companies are now opting to set-up wholly-owned subsidiaries rather than international Joint Venture Companies. Reasons they select wholly-owned subsidiaries were analyzed in the report. Disney Paris was taken as the case and the failed joint venture case shows that it is a key issue for companies to select appropriate entry mode to target country when they choose the target market. Advantages and disadvantages of the JVC versus the wholly-own ed subsidiary were analyzed in several aspects. In a wholly owned subsidiary, senior managers almost have the same cultural background and cultural differences and cultural conflicts could be avoided in management, while this cultural differences and cultural conflicts has been there at the time in JVCs. wholly owned subsidiaries have higher control right than JVCs and they can protect commercial secrets in order to avoid losing to the partner and competitors. They put higher investment and get higher returns than JVCs. While compared with JVCs, wholly-owned subsidiaries have some disadvantages in operational risks, higher opportunity cost, relatively large political risk and disadvantage of exit. Wholly-owned subsidiaries have higher operational risks than JVCs due to uncertain factors in operation and higher opportunity cost because they develop new sales channels and advertising channels to operate effectively under the host environment. Political risk is higher as they depend on the host countrys political environment and political stability. Wholly-owned subsidiaries could exit the host country difficultly because the full investment while JVCs are easier to end. More and more companies select a wholly-owned subsidiary as a few reasons discussed above. They hope get appropriate recognition and support from the host country, at the time get larger profit. 2.0 Theory and entry mode Entering the international market is that a business participates in global market competition and international business development with capital, products, technologies, services and policy. Market heterogeneity induces a positive correlation between firms decisions that can be spuriously confounded with positive strategic interactions. (Victor, Mira, Roman, 2007, p.449). Enterprises should elect the appropriate entry mode in understanding various factors. The factors are including companys strategy, international experience, and inherent technology, economies of scale, culture, pricing, promotion, investment costs, market size and market growth, political and legal, risk and so on. It can be seen in figure 1. Figure 1 the Factors of selecting entry mode Political Legal Economic Marketing Research Competitive Analysis Promotions Logistics and Distribution Products Services Pricing Culture Market Entry Strategy Organising/ Restructuring Disney opened the Euro Disney theme park in Paris, France, selecting the joint venture companies with the investment of 1.8 billion U.S. dollars, and 49% of total shares. Which the equity brought about was a considerable control on management and operation. The operating results of Disneyland Paris are not satisfactory so far. The number of tourists in Paris was much lower than expected during the first year and the per capita spending was below the expected level. All these made operating loss reach 900 million U.S. dollars of the Paris theme park, forced the closure of a Paris park hotel, and fired 950 employees. The failed joint venture case shows that it is a key issue for companies to select appropriate entry mode to target country when they choose the target market. The motive of selecting entry mode was to entering the market as fast as possible and to obtain benefit from the existing market share of the local firm.( Estrin et al.,1997, p.136). Enterprises should elect the appropriate entry mode in understanding various factors. The factors are including Unified strategic actions, international experience, and Exit barriers, economies of scale, culture, Control right, Profits received, Trade Secrets, market size and market growth, Limited market size, risk and so on. 2.1 International Joint Venture Companies The joint venture enterprise refers to joint investment, management and shares options and a total risk. The Joint venture partners can take advantage of a mature marketing network and they are easily accepted by the host country because of the participation of local enterprises. 2.2 Wholly-owned subsidiaries An enterprise directly invested to set up wholly-owned subsidiary in other countries. They can use a variety of forms such as brand, trademark, patented technology and other investment. 3.0 Reasons for wholly-owned subsidiaries When a company enters the international market, they do not know whether the selected entry mode is the optimal. They make decision and select an entry mode according to various factors. More and more companies now select wholly-owned subsidiaries when they enter the target country. For example, company with internal funds, or low leverage, are more likely to choose wholly-owned subsidiaries while they need to raise investment. (Klaus Meyer Saul Estrin, 1998. p.9). There are several reasons: firstly, technical content and differentiation in their products are so high. Once other companies master technology, they would lose their competitive advantages. So they select wholly-owned subsidiaries in order to avoid these assets and technology used and obtained by competitors. Secondly, products are difficult to imitate by competitors. They can not b e replaced, so the company does not regard to market share when they plan to enter the target countries. Thirdly, their products are scarce in target countries, and they are easily accepted and applied properly once they enter in. they do not need to rely on local sales channels and political relations. On the other hand, wholly-owned subsidiary is better than joint venture. Firstly, setting-up wholly-owned subsidiaries can help companies retain more easily technology and knowledge to increase corporate brand value. Secondly, setting-up wholly-owned subsidiaries can establish good mechanisms for operational control, handling disputes and optimizing resources to enhance the marketing control. For example, American and Japanese manufacturing companies, financial services companies and tourism companies set up wholly-owned subsidiaries can help in Australia. When they chose Australia as the target country, they analyzed all kinds of factors, and finally they took full advantages in the service and quality, the original brand and trademark, to establish wholly-owned subsidiaries. The subsidiary has the same business model a nd service methods with parent company. Relative advantages and disadvantages of the JVC versus the wholly-owned subsidiary When companies enter the international market, they are facing a very important decision-making. That is they enter the target market in which appropriate entry model. The following will discuss and analyze the advantages and disadvantages of two modes. Table 1 advantages and disadvantages of the JVC versus wholly-owned subsidiary Wholly-owned subsidiaries JVCs Control right High Low Trade Secrets Remain Known by others Unified strategic actions High Low Profits received High Low Risk High low Resources Cost High Low Cultural Differences High Low Limited market size High Low Exit barriers High low 4.0 Advantages and disadvantages of the JVC versus the wholly-owned subsidiary 4.1 Advantages of the JVC versus the wholly-owned subsidiary 4.1.1 Cultural Differences Social and cultural factors have a very important effect on international market entry mode, and it is mainly on the cultural differences between the home country and host country. The cultural value pattern may strengthen the relative importance of one of these values over the other one. (Piotr, Agnieszka Krystyna, 2008, p.227). The cultural differences are from language, values, life and work patterns, management and business model. If the cultural differences are obvious, the home country needs to spend more to adapt to cultural distance. In a wholly owned subsidiary, all senior managers come from the home country. They have the same cultural background and the same management philosophy, the same way of thinking and behavior patterns. When they consider the strategic objectives and strategic interests, they take the parent companys strategic objectives and long-term direction as goals. So cultural differences and cultural conflicts could be avoided in management. While in the joint venture company, managers and employees come from different countries with different cultural backgrounds, they have different values, different management attitudes and different operational practices. Unavoidable conflict happens as long as they work together. The stronger partner usually represents their economic achievements, so at rules, which are proposed by globalization and which would become an assumption not only for development of universal market, but also for standards of appropriate cultural behavior that would be suitable for representatives of all cultures. (Hofstede, G. 2001).And this cultural differences and cultural conflicts has been between partners from the beginning of joint venture, discussing cooperation, deciding to cooperate, establishing joint ventures to co-management and co -operation. 4.1.2 Control right Parent company participates in the management and decision-making, according to the Articles of Association, because they are the controlling shareholder of wholly-owned subsidiaries. All of these companies would benefit from a framework for decision making to determine if entry into this market is feasible for them. (Dennis Chwen, 2002, p.332).The principal leaders are appointed by the parent company, and their appointment, assessment, rewards and punishments are done by parent company. On the other hand, the parent company should regulate the business development plan, the orientation of investment and management activities, while the wholly-owned subsidiaries should formulate or revise their own development strategies and recent planning under the guidance of parent company. On the third, the parent company should supervise operating conditions and asset quality in order to security, value-added and profit of invested assets. At the same time, wholly-owned subsidiaries should rep ort the financial condition and ensure the authenticity and accuracy of the provided information of the production, management and financial operations. The company can accept the common control when they select the entry mode of Joint ventures, and they will find the right partner and selecting lower ownership. Joint ventures companies could not control the company because they are in minority equity position. They could not control the management and operation, and they could not control the productions sales and t infringement of copyright and paten. It is hard to find a reasonable partner who is fully meet the conditions. On the other hand, limited resources could not be used rationally because of contention for control right. The lack of resources are caused scattered resources and new contention for resources started, again and again, leading to a vicious cycle. Finally, they lost their core competitiveness. This will cause instability of the joint venture, which ultimately lead to instability of the dissolution of the joint venture. JVCs Wholly-owned subsidiaries High control right High stockholding Low control right Low stockholding Table 2 the control right and stockholding 4.1.3 Protection of commercial secrets Wholly-owned subsidiary have large advantage in trademarks, and other technology to prevent meddle in its technical and business secrets, protection of basic monopoly position. Running a business of wholly owned subsidiary can be a simple assembly or complex manufacturing activities, and they have total control-right. The company could completely control the entire management and sales, production and promotion. They could independently dispose profits, and they can protect technology and commercial secrets. For the joint venture company, the local partners contributions are often the local knowledge, local government relations, market share, sales organizations and customer groups, which are the knowledge and understanding of environmental conditions, while foreign partners contributions are typically including technology, management and international support. For example, Australian companies established joints venture with China or India, they increased business investment, as well as provided a number of high value-added products and technologies. Therefore, it is possible that technical secrets and commercial secrets are lost to the partner, and develop into the competitors. 4.1.4 Higher returns In the long term strategic objectives, parent companies pursue to maximize the total value of foreign market, and they speed up the penetration and more control to put effectively wholly-owned subsidiaries into global system. Setting up wholly-owned subsidiaries could get a full return as the increasing experience overseas, fully using companys abilities and cultivating international competitive advantage. A firms return on capital is increasing its industrys state of demand, so it can takes advantage of favorable economic conditions.( Jose M. Pleth-Dujowich, 2008, p.2). Wholly-owned subsidiaries could introduce more advanced technology and equipment and management methods to produce highly competitive products. And parent companies adjust business strategy according to business activities to obtain the overall maximum benefit. In addition, the profits and other legitimate rights and interests which foreign investors obtained after investment in the host country are protected by the laws of the host. The legitimate profit and other lawful income can be remitted back to the home countries. On the other hand, wholly-owned subsidiaries may enjoy tax reduction or exemption preferential treatment in accordance with the provisions of the host country tax revenue. Relatively speaking, Joint venture companies put lower investment, and therefore, they get back low control right and lower return. The home countries are mainly investment of technology and capital, as well as the training on production and management of local staff to get successful conversion on technology and knowledge. Joint venture companies must be in win-win state. That means the return of each joint venture partner is larger and enough, if they are in win-win state so as to work hard for the next success. If a companys return is not in the win-win state, which shows one investment is failure and maybe the two investments are failure. the joint venture partners could not accept the strategic mistake and they should restructure or abandon the joint venture. The lower risk means lower profit for the joint venture companies, especially when productions of a joint venture company are for export, the profit of return will not be very high and even less. 4.2 Disadvantages of the JVC versus the wholly-owned subsidiary 4.2.1 Operational risks Wholly-owned subsidiaries have higher operational risks than JVCs due to uncertain factors in operation. There are some problems in the management of wholly-owned subsidiaries, such as imperfect governance structure, inadequate organizational structure, and inappropriate personnel selection. All these problems could cause wrong decisions, collusion, and low efficiency. On the one hand, subsidiaries engaged in related transactions or matters beyond approval authority or the scope of business, which might result in investment failures, litigation and loss of assets. On the other hand, the elected directors, managers and chief accountants and other senior managers can not plenipotentiary the parent company and they did not make strategies and consider the interests from the perspective of the parent company, and these would result in incorrect formulation and implementation of accounting methods and inaccurate information on the consolidated financial statements. The inaccurate informat ion and methods would bring out high risk on investors, and the company and investors would make decision-making mistakes and face to legal proceedings and other aspects of risks. The joint venture company has generally no problems above. On the one hand, the home country needs to learn and adapt to local environmental conditions to better understand the host countrys economic, political, social, cultural, etc., so as to help investors make the right decisions. They can absorb partners business management skills, experienced business and promotion channel to changes in demand and market share. Nippa1, Beechler and Klossek (2007) studied IJV success to find IJV regard to the foreign parent-local parent fit in. On the other hand, every decision-making need to be recognized by both home and host country managers. Once one partner that the other one harms the interests of the joint venture resulting in damage to the company, they would make recommendations to board of directors in order to improve co-operation. The two sides are fighting for the maximizing interests to avoid operational risks. 4.2.2 Higher opportunity cost Wholly owned company needs to develop their own knowledge and capacity, develop new sales channels and advertising channels to operate effectively under the host environment. For example, sales representatives need to look for good advertisers, and communicate with the advertising and coordination. Finding a good advertiser needs time and money, because advertisers are producers of goods and services who are interested in selling their products to customers and post ads on the media support. (Claude, Carole Bruno,2009, p.5). So the home country needs to go through best efforts to develop new business, and achieve the certain level in the strategic mode of a wholly owned subsidiary. They have to pass a long-term cultivation to get new business skills and required knowledge, so there is a higher opportunity cost. Joint venture company has low opportunity cost. They can more easily access the local market knowledge, understanding competitors and the local government policy from the partners. Companies develop network relationships with important customers, suppliers that the local business partners possessed through mutual commitments and learning.(Lee, Jun and Johanson, 2006,p.62). The Joint venture partners can take advantage of a mature marketing network, branding, economic relations, political status, consumer preferences, etc. and they are easily accepted by the host country because of the participation of local enterprises. 4.2.3 High input costs and high risk Establishing wholly-owned subsidiary, the parent company would face new challenges in strategic planning, marketing strategy, organizational design, and resource allocation, especially in financial management and internal control and other aspects. The parent company invests greatly on capital and resources for wholly-owned subsidiary, because the parent company pays the total investment in the host country, so it is extremely risky. The wholly-owned subsidiary has more affected by environmental uncertainties and greater risk. All the capital investment results in difficult changes in the capital, and further results in assets sunk costs. The full amount of capital investment and sunk costs would limit the strategic flexibility and increase the investment risk. At the meantime, large-scale investment of resources will lead to high switching costs, which in turn generates a high risk. So the higher control right, the more capital investment and the higher risk. But the host countries like wholly-owned subsidiaries, because they want to attract foreign investment without their own capital, and they increases tax revenues without the business risk. There is smaller capital and human capital investment for joint venture companies, and relatively speaking, the risk is lower. Risks should be taken to entering international market. Most companies decided to establish joint venture with the local business, because they want to reduce the risk of entering new markets. So they are looking for joint venture partners who are operating related product lines and have a good understanding of local markets. The foreign parent and the local company combined their resources so as to create competitive advantages and create dominant in marke. (Contractor and Lorange, 2002). Firstly the foreign partners started the cooperation from simple sales and marketing operations to a further risk reduction measures. Secondly, they can increase product sales. Finally, the foreign partners can improve or re-design products in order to better adapt to the local market and make large-scale investment. 4.2.4 Relatively large political risk The establishment of a wholly owned subsidiary has very stringent requirements for the host countrys political environment and political stability. The parent company can set up wholly owned subsidiary when the target country is under the situation of political stability, sound legal system, liberal investment policies, and exchange rate stability. In addition, the profits and other legitimate rights and interests which foreign investors obtained after investment in the host country are protected by the laws of the host. The legitimate profit and other lawful income can be remitted back to the home countries. On the contrary, the wholly owned subsidiary would be significant losses if the host country has political instability and investment policies and investment environment get some changes, which might result in the dissolution of wholly owned subsidiary. Joint venture companies get supported by the host governments. For the host countries, on the one hand, Joint venture companies can bring a number of high value-added products and technologies, and new management style. On the other hand, the local companies provide local government relations, market share, sales organizations and customer groups, and they could not lost their control right and equity. While for the home countries, JVCs can reduce the risk of operation and politics in different countries, regions and industries. They could get the support and cooperation on the tax barriers and preferential policies. 4.2.5 Disadvantage of exit For the wholly owned subsidiary, the parent company has to bear all the resources and costs, including costs of human resources, employment, labor costs, the investment of technical support, sales channel development and advertising costs and so on. They have high switching costs. Serious losses would be resulted in if they exit the target countries for some reason. For example, political situation of the host country has undergone drastic changes, and the wholly owned subsidiary can not maintain their normal production and operation, so the parent company had to close wholly owned subsidiary. The parent company may not fully recover the investment cost before they exit the host country, without mention profit. So it is very obvious disadvantage of exit. The joint venture companies are easier to end. JVCs entered the host country with lower cost of investment and some were into target country only with technology. They could end relationship of cooperation and exit target country when political environment changed and economic deterioration was serious. And they end the relationship with lower cost. On the other hand, they can terminate the agreements when market conditions or the business itself have also changed with lower price or cost 5.0 Conclusion Entering the international market is that a business participates in global market competition and international business development with capital, products, technologies, services and policy. The home countries should select the right entry mode for the international strategy and they should clear their own objectives firstly to choose entry mode. Entry mode provides information about the consequences of enter international relating shifts in market demand to changes in the equilibrium number of firms. (Timothy and Peter, 2008, p.978). Two of them were discussed in the report: international Joint Venture Companies (JVCs) and wholly-owned subsidiaries. Different entry mode means different control right. Enterprises should elect the appropriate entry mode in understanding various factors. The factors are including Unified strategic actions, international experience, and Exit barriers, economies of scale, culture, Control right, Profits received, Trade Secrets, market size and market g rowth, Limited market size, risk and so on. Compared with JVCs, wholly-owned subsidiaries has advantages in cultural differences, control right, protection of commercial secrets and higher returns. On the other hand, wholly-owned subsidiaries have some disadvantages versus JVCs. In the long term strategic objectives, parent companies pursue to maximize the total value of foreign market, and they speed up the penetration and more control to put effectively wholly-owned subsidiaries into global system. While, as for the joint venture, the local joint venture partners contributions are local knowledge, local government relations, market share, sales and customer groups because they have well-known about the local market, culture and knowledge and the understanding of economic environment. The foreign partner invested in technology, management and international support. This combination can reduce opportunity cost and switching costs to have clear business and promotion objectives and win the market share. However, there is no general optimal entry mode when enterprises enter the international market, because the international economic environment is perplexing and political environment is complex. The parent companies should select the reasonable entry mode acc ording to their own resources and strategic objectives and strategic policy.

Using the literary and linguistic concepts and approaches of I Syng Ess

Using the literary and linguistic concepts and approaches of I Syng of a Mayden, this essay will be focusing on how the anonymous poet conveys religious ideas throughout the poem. The poem was written by an anonymous poet in the 15th Centaury How does the poet convey religious ideas in the poem 'I Syng of a Mayden'? Using the literary and linguistic concepts and approaches of 'I Syng of a Mayden', this essay will be focusing on how the anonymous poet conveys religious ideas throughout the poem. The poem was written by an anonymous poet in the 15th Centaury. As it was by an anonymous poet the poem was probably passed round by mouth and song meaning that it could be a ballad or hymn. As well as that, I also feel that due to the fact that the three middle verses all have 'That fallyt on the...' and 'As due in Aprylle' repeated it suggests that it could very well be a ballad or hymn as most are structured like that. The title 'I Syng of a Mayden' is Middle English text and the word 'Mayden' especially, as it's very medieval language dating back to The Madonna and Child where all paintings were focused on Bible stories, and a lot of poems at the time were transcribed in Monasteries indicating religious themes. 'Mayden' also means Virgin, relating back to the religious side of the poem, which could suggested that 'I Syng of a Mayden' was about the religious symbol, the Virgin Mary. Throughout the poem it shows references to Mary and baby Jesus, such as 'Kyng of alle Kynges' which has been mentioned in the Bible referring to Christ being more powerful than any King, 'He cam al so stylle' meaning he appeared in her womb as if like magic or 'As dew in Aprylle' as the poem suggests. The key themes in this po... ...es a simile 'as dew' to emphasis the importance of water in everyone’s live, in this case he uses it to compare importance to Christ in saying that, like water, you can't live without it. The poet uses hushed lullaby tones throughout the poem such as 'ches' and 'gras' which both end with a 'shhing' sound such as a lullaby making it a very peaceful, quiet atmosphere. He uses Bilabial nasals such as 'moder and mayden' to give a kind of softer sound, we produce these nasal phonemes by lowering the velum to allow air to flow through the nasal cavity giving an 'ng' or in this case an 'mm' sound. He also uses fricatives such as 'fallyt on the flour' which is the use of alliteration of the sound 'ff'. It gives it a harder sound. Lastly it uses sibilance in 'so stylle' which shows more alliteration and emphasises the words to make them seem even softer/quieter.

Dealing With Stress in Life Essay -- Expository Essay

The times that hair-pulling seems to prevail over other activities in life. The hair pulling is just one symptom of stress. Everyone will at some point in their life come across stress. Stress is our learning of the environmental events and accommodating to coincide. Some symptoms to mention that can be noticed are being irritable and tired from not sleeping well, unable to concentrate, and having emotional outbursts. Different types of stress that exist can fall under a category of stressors including appraising, conflict, defenses, frustration, learned helplessness, micro, nature of threat, and urban. An appraising stressor is how we determine if an event of life is stressful in a sense of threat or if a chance at a challenge. Conflict happens when someone has to choose what to do, being influenced by contradictory needs, desires, motives or demands. The frustration stressor is when something or maybe someone is preventing a goal from being reached causing a negative mental statue. Learned helplessness can be thought of as something to look forward to at a given time and when t...

Existents In Alfian Saats Umbrella :: Alfian Saat Umbrella Papers

Existents In Alfian Sa'at's Umbrella In the short story "Umbrella", the author Alfian Sa'at relates the tale of a young Malay Singaporean secondary school student, Hafiz. Alfian uses an older Hafiz as the narrator who recounts his experiences retaking his 'O' levels for the second time. Hafiz tells us about his relationship with Chris, a tuition teacher hired by his father to help him pass his examinations. I feel that "Umbrella" is essentially a story about the imposition of certain norms and standards on members of society. It tells us how students are conscious of the need to fulfill society's notion of success. Through Hafiz's eyes, we are led to see how he is trapped in this system that forces certain standards upon him but yet does not give him the appropriate training and skills to reach the standards. Thus, Hafiz is unable to fit into the identity that he is pressured to accept. We also see how Hafiz himself desires to achieve success as society perceives it, but finally realizes his true identity and comes to terms with it, even though it may not be the norm. However, how does "Umbrella" cause such an effect on the reader? What tools are being utilized in the narrative that can invoke such feelings? I believe that the author uses what Seymour Chatman calls existents to bring out such an effect on readers. Thus, in this essay we will seek to discover how existents, namely charac ter and setting, are employed to draw out such an effect. Firstly, let us look at character. Tzvetan Torodov, a French structuralist, discusses two categories of narrative. He labels them as apsychological and psychological narratives. By apsychological, Torodov means narratives that are plot centered and by psychological, character centered (Chatman 113). Readers can discern that "Umbrella" is essentially psychological in nature. Most of the story takes place in Hafiz's room and is generally presented through the conversations between Hafiz and Chris and through Hafiz's thoughts. There are few characters in this story. We have the protagonist Hafiz and his tuition teacher Chris as the two main leads. Along with them are less important characters such as Hafiz's parents and a certain maths relief teacher. Chatman emphasizes that characters are important to a narrative and they should not be treated as "mere plot functions" (119). As such, these characters must play a crucial role in bringing out the effect of the narrative, and we will seek to decipher how this is done.

Managing financial resources Essay

Rules and regulations: Plagiarism is presenting somebody else’s work as your own. It includes: copying information directly from the Web or books without referencing the material; submitting joint coursework as an individual effort; copying another student’s coursework; stealing coursework from another student and submitting it as your own work. Suspected plagiarism will be investigated and if found to have occurred will be dealt with according to the procedures set down by the College. Please see your student handbook for further details of what is / isn’t plagiarism. Coursework Regulations 1 Students are required to submit their coursework on-line through online e-learning system http://stponline.org.uk. Detailed information about this is available in the student handbook submission 2 Details of submission procedures and penalty fees can be obtained from Academic Administration or the general student handbook. 3 Late coursework will be accepted by Academic Administration Office and marked according to the guidelines given in your Student Handbook for this year. 4 If you need an extension (even for one day) for a valid reason, you must request one, using a coursework extension request form available from the Academic Administration Office. Do not ask the lecturers responsible for the course – they are not authorised to award an extension. The completed form must be accompanied by evidence such as a medical certificate in the event of you being sick. 5 General guidelines for submission of coursework: a All work must be word-processed and must be of â€Å"good† standard. b Document margins shall not be more than 2.5cm or less than 1.5cm c Font size in the range of 11 to 14 points distributed to including headings and body text. Preferred typeface to be of a common standard such as Arial or Times New Roman for the main text. d Any computer files generated such as programme code (software), graphic files that form part of the course work must be submitted either online with the documentation. e The copy of the course  work submitted may not be returned to you after marking and you are advised to have your personal copy for your reference. f All work completed, including any software constructed may not be used for any purpose other than the purpose of intended study without prior written permission from St Patrick’s International College. Outcomes and assessment requirements Assignment title Managing Financial Resources in the health and Social Care Organisations – CARETECH HOLDING PLS Learning Outcome (LO) Assessment Criteria In this assessment you will have the opportunity to present evidence that shows you are able to: LO1 – TASK 1 Understand how systems are used to manage financial resources in health and social care 1.1 D2 Explain the principles of costing and business control systems 1.2 Identify information needed to manage financial resources 1.3 M1 Explain the regulatory requirements for managing financial resources 1.4 Evaluate systems for managing financial resources in a health or care organisation LO2 – TASK 2 Understand the role of planning in the management of health and social care budgets 2.1 M3 Discuss the diverse sources of income that may be encountered in health and social care 2.2 D1 Analyse the factors that may influence the availability of financial resources in health and social care organisations 2.3 Review different types of budget expenditure in health and social care organisations 2.4 Evaluate how decisions about expenditure are made within a health or social care organisation LO3 – TASK 3 Understand the importance of monitoring budget expenditure in health and social care organisations 3.1 D3 Explain how financial shortfalls can be managed 3.2 M3 Explain the actions to be taken in the event of suspected fraud 3.3 D2 Evaluate budget monitoring arrangements in a health or social care organisation LO4 – TASK 4 Understand how systems and processes for managing financial resources influence health and social care services. 4.1 D3 Identify information required to make financial decisions relating to a health and social care service 4.2 Analyse the relationship between a health and social care service delivered, costs and expenditure 4.3 M1 Evaluate how financial considerations impact upon an individual using the health and social care service 4.4 D1 Suggest ways to improve the health and social care service through changes to financial systems and processes Learner declaration I certify that the work submitted for this assignment is my own and research sources are fully acknowledged. Student signature: Date: In addition to the above PASS criteria, this assignment gives you the opportunity to submit evidence in order to achieve the following MERIT and DISTINCTION grades Grade Descriptor Indicative characteristic/s Contextualisation M1 Identify and apply strategies to find appropriate solutions An effective approach to study and research has been applied You will discuss at least three (3) financial considerations that affect and influence funding of care cost in a nursing and residential home (LO 4.3) Make effective judgment on the impact of regulators on the quality of care in the NHS; state at least two regulators and explain their roles (LO 1.3) M2 Select/design and apply appropriate methods/techniques A range of sources of information has been used To achieve M2, you will have to cite all references and sources of material used both for in-text citation and reference page. You will follow the Harvard referecing style through out your assignment. M3 Present and communicate appropriate findings Coherent, logical development of principles/concept for the intended audience The answer should consist of the at least 2 subheadings fully explained: (i) The red flags of fraud (ii) Actions to take in the event of fraud (LO 3.2) Explain the meaning of tecchical terms and functions in the Health organsiation (CCG, Capitation, Private equity) as you discuss the various sources of income for health and social care organisation (LO 2.1) D1 Use critical reflection to evaluate own work and justify valid conclusions Conclusion arrived at through synthesis of ideas & justicfied You will explain and justify the various scheme proposed to improve the health care delivery by changes in the financial systems (LO 4.4) You will discuss the factors that mostly affect and influence availability of resource and suggest how health and social organisation can use that to their advantage (LO2.2) D2 Take responsibility for managing and organising activities The importance of interdependence recognised and achieved You will demonstrate with diagram and table, the budget monitoring arrangement. You will need to provide clear link of the process (LO 3.3) You will identify and explain the six NHS approve costing guidiance. State and explain the categories of cost (e.g Fixed/Variable; Direct/Indirect) and costing concept (cost centre, cost object and cost unit (LO 1.1) D3 Demonstrate convergent/lateral/ creative thinking Innovation/Creative thought have been applied Review the financial statements (Balance sheet & Profit and loss) and draw out at least seven types of information needed to make decision in CareTech (LO 4.1) You need to present the best practice in the health sector in  managing financial shortfall. A reference should be made to an innocative way used in the NSH (LO 3.1) Assignment brief Assignment title Managing Financial Resources in the health and Social Care Organisations – CARETECH HOLDING PLS Purpose of this assignment The health and social act 2012 requires health practionals and social care managers to be more innovate, more productive and more accountable while delivering the NHS, Adult Social care and Public health outcomes (quality, safety and patient experience) By carring out this assignment learners will be equipped with the knowledge and understanding needed to monitor costs, make predictions, evaluate the process of effective control of resource allocation, including shortfalls, and make recommendations for expenditure in health and social care organisation Scenario You are one of the home managers for CareTech Holdings PLC, a leading UK provider of specialist social care services. You have been invited to present a report to the Directors of the company, MONITOR-NHS and some CCG representatives as part of government review and monitoring of your care home This report is aimed to demonstrate your understanding and knowledge in Planning and managing budget in your home, it will show your skills in resource control and managing shortfall with your ability to make prediction and make recommendation for the future expenditure in CareTech Holding PLC Your report should cover and incorporate all the task and learning outcomes below (3,000 words) You should refer to the assessment criteria and the relevant unit content, when preparing your evidence of assessment. You can access the Annual report of CareTech Holdings PLC for 2013 at: http://www.caretech-uk.com/~/media/Files/C/Caretech-UK/press-release/pr-2013/2013-preliminary-results.pdf or the condenced version of the annual report on STP online; Assignment Folder section Learning outcome 1 (1.1, 1.2, 1.3, 1.4) M1, D2 1.1Explain the principles of costing and business control systems that may be adopted in CareTech Holding PLC. D2 1.2 What were the information needed to manage financial resource for CareTech Holding PLC in 2013 financial ending? 1.3 What regulatory requirements need to be satisfied while managing financial resources in CareThech Holding PLC? M1 1.4 Evaluate the systems for managing financial resources in CareTech Holding PLC ? Learning outcome 2 (LO 2.1, 2.2, 2.3, 2.4) M3 and D1 2.1 What are the diverse sources of income avaialabe to CareTech PLC in the financial year in 2013? M3 2.2 Analyse the factors that may influence the availability of financial resources in CareTech PLC? D1 2.3 Review different types of budget expenditure in CareTech PLC. 2.4 Evaluate how decisions about expenditure could be made in CareTech PLC Learning outcome 3 (LO 3.1, 3.2, 3.3) M3, D2 and D3 3.1 Assuming there was financial shortfall in CareTech PLC; explain how this situation could be managed? D3 3.2 What action you would take if you suspect occurrence of financial fraud in your organisation? M3 3.3 Evaluate budget monitoring arrangements in CareTech PLC. D2 Learning outcome 4 (LO 4.1, 4.2, 4.3, 4.4) M1, D1, and D3 4.1 Identify information required to make financial decisions relating to CareTech PLC D3 4.2 Analyse the relationship between care service delivered and ‘costs and expenditure’. 4.3 Evaluate how financial considerations impact upon a service user. M1 4.4 Suggest ways to improve the care service provided by CareTech PLC through changes to its financial systems and processes. D1