How Technology Can Create Sustainable Digital Healthcare...

Leveraging Technology to Create Sustainable Digital Healthcare Infrastructure Shailja Dixit, MD, MS, MPH Shailja.dixit@gmail.com All stories don’t have a happy ending: Its 2 AM in the morning. I am in post-op care watching my dad in a five-star Metro hotel-hospital. The unfolding of events is crystal clear in my mind: Our life turned upside down, what seemed to be a simple regular follow-up for my Dad for his gastric problems turned into a ‘ticking time bomb†. Thankfully with the help of ultra-modern technology, the malignancy was diagnosed and he was operated. Now, he has developed low grade fever and no one knows the causal reason. After my annoying persistence, the highly competent specialist agreed to perform a culture and Lo and Behold: My dad had multi-drug resistance bacterial infection. The casual remark from medical staff said, â€Å"We have never heard of this bacterium†. Driven, partly by my scientific curiosity and partly, let’s say by my obsessive compulsive nature, I started my own little investigation. I went to the lab and hematology department and to my surprise found out there were a significant number of such cases being registered but NOT reported. On top of this, my dad has been prescribed antibiotics (I.V.) like saline in the last few years. Obviously, the lack of proper infra-structure and policies were quite apparent — In a system where data is not used and turned into information to drive insights is theShow MoreRelatedRecent Developments Of Remote Areas Of Rwanda Essay1514 Words   |  7 PagesRECENT DEVELOPMENTS Drone Technology Remote healthcare delivery requires a plan to incentivize medical professions to come to a particular location. In order to accomplish this some sort of infrastructure needs to be established, including basic medical tools and portable apparatus. Once the personnel and the minimal infrastructure is in place, the final component for the effective provision of healthcare is medication. Once a diagnosis has been provided and the population of a particular locationRead MoreAn Appraisal of Information and Communication Technology (Ict) Resources for Sustainable Poverty Eradication and Development in Nigeria5476 Words   |  22 PagesAN APPRAISAL OF INFORMATION AND COMMUNICATION TECHNOLOGY (ICT) RESOURCES FOR SUSTAINABLE POVERTY ERADICATION AND DEVELOPMENT IN NIGERIA BY OJEBISI, A. OLUGBENGA Department Of Curriculum and Instruction Studies, Federal College of Education (Sp.), Oyo. E-mail: ojebisi_olugbenga@yahoo.com +234-0-8035624949 An Appraisal of Information and Communication Technology (ICT) Resources for Sustainable Poverty Eradication and Development in Nigeria Abstract This paper presents an appraisal ofRead MoreSocial Interaction1522 Words   |  7 PagesHow do you imagine social interaction within 10 years, taking into consideration the impact of technology on human relations? Social interaction has been changing over the years as technology has progressed. Especially during the last two decades, the evolving technology has provided a new definition to human relations. During the 1990’s, the only mobile company ruling was Nokia, and lived up to its tag line of â€Å"Connecting people†. That was one phase of social interaction then. As technology advancedRead MoreA Single Person, Group, Event Or Community1292 Words   |  6 Pagesprocesses and developments can be studied as they happen. The case study started with the clinical studies where the medical history was recorded over a period of time and similar cases were handled with same procedure and identical symptoms were considered to group the diseases in one genera. In case study the hierarchy of events is recorded which have happened in the past leading to the current events and forecasting their effects in the future. The data for the case study can be collected from variousRead MoreInf osys 3.0 Strategy2516 Words   |  11 Pagesprovider in India superseded by only TCS. (Refer to appendix 1 for historical growth data) This Indian IT bellwether has been a trusted IT services provider along with business consulting, support and enhancement services, enterprise services and technology outsourcing services and serves a host of Fortune 500 and Fortune 1000 companies in 20 domains. Its biggest clients include British Telecom, British petroleum, ABN AMRO, Southern California Edison, DHL, Bank of America, Citibank to name a few Read MoreDigital Bangladesh Problems and Prospects5229 Words   |  21 PagesIntroduction: Digital Bangladesh is currently the most commonly used words in politics, media, among the intellectuals and the civil societies. The world is becoming a Digital Planet. Almost every state is running to become a knowledge-based society by 2015. Bangladesh cannot remain out of it. We must build a Digital Bangladesh and establish a knowledge based society within 50 years of our independence in 2021. Let’s work for this achievement. Let us build Digital Bangladesh. Back-ground of theRead MoreHow to Bridge the Gap Between Developed and Undeveloped Countries2067 Words   |  9 PagesIntroduction The emergence of technology in recent years has compelled me to write about this topic. Used for commercial, industrial and leisure purposes, technology has become an integral part of society. Although the proliferation of technology has led to job creation and raised economic welfare in some countries, it has also accentuated the economic disparities between the different countries of the world. †¨ In this paper, I will strive to answer the question of what can be done to bridge the economicRead MoreImpact of National Broadband Network on Financial Sector5459 Words   |  22 Pagesmicroeconomic impacts of the National Broadband Network (NBN). This report also explains how NBN will help businesses to implement innovative and efficient business processes to increase revenues, competitiveness and productivity that will further drive the economic growth of Australia. The report will briefly compare the impacts of NBN to financial services sector in Australia and how financial services sector can benefit from the implementation of NBN in long run. This report aims to cover the supplyRead MorePhilips : A Diversified Technology Company Essay4341 Words   |  18 PagesPhilips Royal Philips of the Netherlands is a diversified technology company, focused on improving people’s lives through meaningful innovation in the areas of Healthcare, Consumer Lifestyle and Lighting. Headquartered in the Netherlands, Philips posted 2012 sales of EUR 24.8 billion and employs approximately 114,000 employees with sales and services in more than 100 countries. The company is a leader in cardiac care, acute care and home healthcare, energy efficient lighting solutions and new lightingRead MoreUsing Information And Communication Technologies For Health Essay2003 Words   |  9 PagesOrganization, 2016 defines â€Å"eHealth is the use of information and communication technologies for health†. An electronic health record (eHR) is the electronic collection, management, use, storage and sharing of healthcare information and is envisioned to assist in the delivery of safe, efficient, effective healthcare (RACGP, 2016). Technology advances and consumer demand have catalysed the incorporation of Information Technology in health. The eHR is relatively premature in Australia (Pearce and Haikerwal

Media Violence and Its Effect on Society - 1968 Words

Media Violence And Its Effect On Society Does entertainment influence societys attitude towards violent behavior? In order to fully answer this question we must first understand what violence is. Violence is the use of ones powers to inflict mental or physical injury upon another; examples of this would be rape or murder. Violence in entertainment reaches the public by way of television, movies, video games, music, and novels. Violent images on television, as well as in the movies, have inspired people to set spouses on fire in their beds, lie down in the middle of highways, extort money by placing bombs in airplanes, rape, steal, murder, and commit numerous other shootings and assaults. Over 1,000 case studies have proven that media†¦show more content†¦These children do not understand that the violence is shown strictly because the public wants to see it. They cannot grasp the meaning of ratings and entertainment as well as adults can. All they know is, if the TV portrays violence as cool, then it must be cool! The problem isnt the violence in the media though; it is the medias failure to show the consequences of violence. This is especially true of cartoons, toy commercials, and music videos. Children often do not realize that it hurts to hit someone else because they see it all the time on TV. Everyday a cartoon character is beat up, injured, or killed, only to return in the very next episode, good as new. As a result, children learn that there are few, if any repercussions for committing violent acts. In a recent incident in Norway, two children beat another child by jumping and kicking the child in the head and other parts of her body numerous times. As a result, the child died from being left out in the cold because she was not able to move due to her injuries. Later the officials had discovered that the barbaric incident was due to the fact that the children had watched the violent cartoon Mighty Morphin Power Rangers. The children thought that the girl would later get up because in the show the characters never die. Consequently, the show Mighty Morphin Power Rangers was canceled throughout Norway. MusicShow MoreRelatedEffects Of Media Violence On Society888 Words   |  4 PagesEffects of Media on Society Media violence has numerous negative consequences on youth today to commit criminal acts in the society. Violence in the media will never be stopped as long as the society spends more time on violent movies and video games. Media violence has been tremendously growing and attaining the hazardous extents. Around 60 % of TV shows contain some kind of violence. Most self-involving video games contain some violent matter in it. For example, if you manufacture guns, you doRead MoreMedia Violence And Its Effect On Society1184 Words   |  5 Pagesbegun to examine the negative effects of media violence. There is a debate on whether negative effects directly derive from media violence. Because media violence has been proven to have a negative effect on society, this essay will argue that there needs to be more censorship on media violence. I will first examine the influence media violence has on mass shootings. Next I will discuss a study relating to dating violence, certain movies and shows encourage dating violence. In conclusion, I will suggestRead MoreMedia Violence Effects on Society1930 Words   |  8 PagesMedia Violence: Effects on society â€Å"Millions of teens have seen the 1996 movie Scream†¦Scream opens with a scene in which a teenage girl is forced to watch her jock boyfriend tortured and then disemboweled by two fellow students who, it will eventually be learned, want revenge on anyone from high school who crossed them. After jock boys stomach is shown cut open and he dies screaming, the killers stab and torture the girl, then cut her throat and hang her body from a tree so that Mom can discoverRead MoreMedia Violence And Its Effects On Society2001 Words   |  9 Pages Media Violence in Current Society Yanan Yu Abstract This article reviews evidence of the media impact on interpersonal violence internationally. Media violence always is a controversial topic. There are several factors that demonstrate this impact: (1) A recognition that electronic media use now dominates most of young people’s time; (2) Evidence demonstrating violent media has multiple harmful effects on children, adolescents, and young adults; (3) The growing impact of media violenceRead MoreThe Effects Of Media Violence On Society1942 Words   |  8 PagesThe modern Australia is constantly exposed to media, and media has made the communication of violence more reachable and easier than ever before. Violence is especially an issue that needs to be looked upon, as many, especially the younger generation, view violence in film, computer games or even news reporting’s and this creates them into believing that violence in okay. A recent 2015 study however, identified an association between exposure to violence in entertai nment and violent behaviour, whichRead MoreMedia Violence: Prevalence And Effects On Society . American1869 Words   |  8 PagesMedia Violence: Prevalence and Effects on Society American adolescents spend a major amount of time consuming media, weather that is watching television or a movie, playing a video game, or even scrolling through social media apps. This is a large exposure to the media and its content including the violence presented on so many media platforms. Media has become so standard in everyday life that many people have become addicted to it. The targeted group of this addiction is the children since theyRead More The Effects Of Violence In Media On Society Today Essay2224 Words   |  9 Pages Is societies violence the media’s fault? This is the question that has been asked since before television was in every American’s house. Of course there are the different types of media today ranging from newspapers, to on-line reports and stories. There have been arguments upon arguments about this issue, and over 3,000 studies conducted. Unfortunately there isn’t one single result, there is only an array of supposed answers to this undying question. CBS president, Howard Stringer is pointingRead MoreThe Effects of Violence in Media on Society Today Essay2286 Words   |  10 PagesIs societies violence the medias fault? This is the question that has been asked since before television was in every Americans house. Of course there are the different types of media today ranging from newspapers, to on-line reports and stories. There have been arguments upon arguments about this issue, and over 3,000 studies conducted. Unfortunately there isnt one single result, there is only an array of supposed answers to this undying question. CBS president, Howard Stringer is pointing toRead MoreMedia Violence And Its Effects On Today s Society2184 Words   |  9 Pages Media violence, in some cases, can be a real issue in today s society. However, we can not blame all of the reality violence on media portrayals. Media violence is just as it sounds, the art of violence through media. The official definition of media violence is visual portrayals of acts of physical aggression by one human or human-like character against another (L. RowellHuesmann). As there are many things that can promote violence in today s world, this could be part of the reason that whatRead MoreMedia Violence And Its Effects On Today s Society2168 Words   |  9 PagesEssay Two Media violence, in some cases, can be a real issue in today s society. However, we can not blame all of the reality violence on media portrayals. Media Violence is just as it sounds, the art of violence through media. (1)The official definition of media violence is visual portrayals of acts of physical aggression by one human or human-like character against another. As there are many things that can promote violence in the world we live in today, this could be part of the reason that

Can Virtual Communication Substitute Human Relations Free Essays

According to UN’s telecommunications agency one of the three people is involved in the internet. Cyberspace has created a means for people to come closer together. Rather than spending money on phone services, people in different cities or even different countries can use messenger services, social networking or email to communicate. We will write a custom essay sample on Can Virtual Communication Substitute Human Relations? or any similar topic only for you Order Now The Internet allows people to find old friends, classmates, and family members, or meet new people. Many people treat Internet as an enjoyable way of spending their free time. The most significant feature of internet is the possibility of global communication which gives a lot of opportunities to find a related soul or even a true love; however it does have certain drawbacks that people tend to forget about. In other words, despite the fact that internet is convenient tool of communication; people should not forget about big value and advantages of real conventional relations. One of the benefit from building relationship, people are able to talk with thousands of people all over the world. In real life it would not be possible, even if they would spend all their life traveling and having new relationships. While using the computer a person can have a friend in Russia or talk with tango dancers from Argentina. What is more online friends do not judge weight, skin color or clothes. Despite the pluses which were mentioned above, one of the major disadvantages of virtual communication, especially at the beginning of new acquaintance is that anyone can enhance the truth as much as he wants. Not all sites require a photo, and even those that do cannot guarantee that the photo is a real one. Clear signs that the photo may be a fake are strange backgrounds that might indicate a stock image, photos that appear professionally taken and photos that seem old rather than current. Unfortunately some people are not able to identify counterfeit images therefore the internet makes it easy to lie, thus in some cases almost impossible to discern whether the ad is honest or the truth is being embellished. Furthermore, relations through the internet reduce or eliminate face-to-face socialization. Due to the autonomy afforded by the virtual world, individuals are free to create a fantasy persona and can pretend to be someone else. Besides that it is hard to say no, be rude, or ignore someone when you are looking them in the eye. Also, it’s incredibly easy and quick to unfriend or unfollow someone or simply block their efforts to make a connection. In other words, just one click of the mouse and your problems would be finished. Unfortunately, this feature of online socialization cheats people of the opportunity to learn how to resolve conflicts in the world outside the Internet and it could retard or cripple one’s social skills developments. A report from the National School Boards Association shows that 41 percent of teenagers spend their time posting messages instead of face-to-face interactions with their peers. In conclusion, although the extension of virtual influence is increasing day by day, the real human interactions will not be replaced among society. How to cite Can Virtual Communication Substitute Human Relations?, Essay examples

Study Of Marketing And Online Marketing - Myassignmenthelp.Com

Question: Discuss about the Study Of Marketing And Online Marketing. Answer: Business Introduction Superannuation funds are various financial plans developed by government or private entities for accumulation of funds and with intention to provide income after retirement (Smith, 2012). These funds are not mandatory and are promoted by the government with tax benefits. This report presents a marketing strategy and comparison of two financial companies to be analysed as superannuation funds. The funds chosen are AMP Superannuation Savings Trust and AustralianSuper. AMP Superannuation Savings Trust is a resident regulated fund. This fund is registered with Australian Prudential Regulation Authority (APRA) and has more than 2 million participants. The fund was formed on 1 July, 1998 and is following the regulations of Income tax authorities (AMP, 2017). AMP capital is the investment manager of fund. AustralianSuper is one of the largest pension and superannuation fund of Australia. The fund has more than 2.2 million members. The fund is run to generate profit for members and because of its size the cost of fund is very low. AustralianSuper is also registered with APRA and has multiple investment managers. (AustralianSuper, 2017). Business Overview AMP Superannuation Savings Trust is a public offer retail fund. The contributions to fund are received through AMP Life and AMP Capital. The fund is qualified for transfers and rollovers. The fund has 8 MySuper products and 290 investment options. MySuperstratergy product has 29% of its total assets. The fund has assets of around $55 billion. This fund invests global bonds, global shares, listed real estate, Australian shares and derivatives (Superguide, 2017). On the other hand AustralianSuper is an industry and public offer fund. This fund has 13 Mysuper products and 13 investment options. In this fund MySuper stratergy has 67% of the total assets. This fund has invested all over the globe with investments of about $120 billion. The investments include financial instruments as well real assets. Shares, airports and shopping centres are part of its portfolio (Superguide, 2017). Comparison Between Both the Companies AMP Superannuation Savings Trust is pension fund, run and promoted by AMP. The shares of AMP are listed on Australian stock exchange. It is financial services enterprise dealing in various products. The company deals in employee and personal plans. The fund believes in developing variety of investment options for different risk profile clients. The company also provides insurance linked plans with whole life or endowment option. AustralianSuper is a superannuation fund with offices all over Australia. It has two divisions. First one is an industry and personal division. Other one is retirement income division. The company believes in sustainable long term investment returns and reducing costs because of large fund size. Apart from managing superannuation fund, the organization deals in financial advice and providing insurance to members. For sustainable growth of organization, it launched social aware investment option for its members. Client Profile Target Group AMP Superannuation Savings Trust is a public fund. It can be offered to general public. Australian Superannuation Savings Trust has 38% female participants and 59% male members. Most of the participants are present in age group 35-44 years. Largest number funds have been too contributed by this group. Superannuation funds benefit by targeting young generation. So target group should be individuals between ages of 25-40 years. On the other hand AustralianSuper is a member only fund. Benefit of member only funds are manifold. It is benefitted by low fees, decisions are not affected by vested interests and profits are for members. It has 39% female members and 59% male members. In this fund most of the subscribers are present in age group of 25-34 years (Superguide, 2017). This fund too should have its target group as young generation between ages of 25-40 years. However both the funds should target all sections of the society. Market Segment Characteristics Affecting Market Segment Market segmentation consists of segregating total customer base of a business in smaller groups based on certain criteria (Sun, 2009). Criteria can be based on demographic, geographic or behavioural factors. Markets can be segmented for these two funds in an identical manner because both have customers of all ages, regions and behaviour biases. Hence various segments and characteristics affecting them are: Demographic Segmentation: Demographic factors play an important role in deciding market segment of these funds. Market segment can be formed by age, income, gender and family size (Gbadamosi, 2013). For these funds, market segments can be high income, young with high income and old couples. These segments are affected by different products offered by the company. As every segment has their unique need. Young are interested in risky and long term investments. Geographic Segmentation: Geography affects an individuals lifestyle. People living in urban centres have better life style and longevity in life. So they are interested in products which have whole life annuities. On the other hand, rural population lives a very hard and risky life. For such individuals pension plans along with insurance and low premium are right products. Behavioural Segmentation: Behavioural biases of an individual affect the choices which are made in selecting and purchasing different products (Solomon Lowrey, 2017). Insurance and pension are generally delayed investments. In this segment price conscious and unaware investors want low premium products. This segment is affected by psychological and social biases of individuals. Cost-Benefit Analysis The process of evaluating benefits and costs associated with a business strategy to analyse the effectiveness of the plan. It consists estimating the costs associated with the proposed strategic proposal and simultaneously calculating all benefits generated by the plan. Both direct and indirect costs as well as benefits should be included in the analysis (Campbell Brown, 2015) After conducting a cost-benefit analysis of marketing strategy of both the superannuation funds, it is concluded the benefits overweight costs in both the cases. However, marketing strategy of AustralianSuper is successful over the other company. Total additional benefits over cost in case of AMP Superannuation Savings Trust are $291960, whereas $40700 in case of AustralianSuper. Marketing Strategy Marketing strategy is a set of guidelines and processes that an organization follows for promotion and improving reach of its products (Ferrel Hartline, 2013). Marketing strategies are devised taking into consideration various stakeholders of an enterprise. Marketing Strategy of AMP Superannuation Savings Trust Like most of the superannuation funds, the organization is also using partners and influencers for product promotion. Indirectly, strategy also focuses on development of world class award winning products for customer retention and attraction. Fund has its focus on umbrella approach with aims holistic approach to promotions. This process starts with customer research, product development, advice and selling at end. Social and digital media is also a source of marketing for AMP. It is recommended that company develops a strategy for engaging third party individuals and organizations for spreading awareness and selling its products. Educational campaigns through television, events and street shows should be its focus. Marketing Strategy of AustralianSuper According to Homewood (2016), marketing strategy of AustralianSuper is targeted through digital media and focusing on millennial. Millennial are very excited about the superannuation products and do a considerable analysis of different product options. The company also gets a lot of queries from them. Digital media will provide an effective platform for targeting all sections of the society. Apart from this company is also using other sources of marketing such as engaging with partners and influencers. The partners and influencers help in promoting products by creating awareness and changing attitudes. Apart from these, it is recommended that the company uses traditional methods of marketing. It should organize workshops and street campaigns. Promotion through television should be encouraged. Company may also engage advisers, banks and other agents for sales promotion. Sample Tools Advertising Marketing tools and advertisements help organization target audiences according to their needs and help in effectively evaluating a campaign to analyse return on investment (Adler, 2010). AMP Superannuation Savings Trust In 2016, the company launched goal based operating system, which comprised of goal centre and a explorer. The system has article, videos and modules for educational purpose and marketing. Modules have option to narrate as well. This is helpful of old as well those who are visually impaired (Burchill, 2017). Digital media tools such as online mailers and podcasts are also being used by the organization. Advertisements on social media are also common. YouTube, LinkedIn and Twitter online marketing tools are also being used by the company. It is recommended that company also uses promotional hard copy material for product promotion. These will be for helpful older and non-tech-savvy individuals. These can be sent along with policy statements after taking customer approvals. AustralianSuper Since, at present company has its focus of digital media and millennial. It should focus on next-generation tools and advertising. Digital media tools include online advertisements, marketing through mobile, web-analytics and emails. Digital media and analytics are effective in targeting customers by evaluating their needs. Partners and influencers are using social media websites and tools for product promotion. They are particularly active on Twitter and YouTube. Apart from the current tools and advertisement methods, it should also use promotional items such as educational videos, product brochures and merchandise to improve brand value. Banners and newspapers advertisements should also be encouraged. Traditional tools and advertisement measures result in a lasting impression. Monitoring Process and Review Monitoring and review process of marketing strategy involves analysis of impact of a plan, quantitatively measuring various data and carrying out appropriate changes to existing plan in case pre-defined results are not achieved (Saunders, 2015). AMP Superannuation Savings Trust Ultimate review of marketing strategy and advertisements comes in the form of tracking of revenues and profits. For digital media marketing efforts, the process involves tracking web traffic and measuring views on online promotional videos. Increase in followers on social media and positive discussion on social is sign of impactful marketing. Customer feedbacks through surveys and discussions are also helpful in tracking product response. As can be seen from cost-benefit analysis (Table 1), increased revenues from marketing efforts exceed costs; therefore marketing efforts have been successful. In case marketing efforts do not give desired result, the fund should think of modifying existing tools and strategies. AustralianSuper Marketing efforts of the company have been fruitful since the revenues have comfortably exceeded the costs (Table 2). The company can review its existing procedures by evaluating number of queries received by phone and email. If a television marketing campaign has been launched, then after campaign sales and response can be measured. Monitoring also involves analysing by demographics and region. It can be used to target a particular age group, income-level or regional group according to their needs. Conclusion This report presents a comparison of two superannuation funds of Australia. Funds covered in this report are AMP Superannuation Savings Trust and AustralianSuper. In the initial portion, a business introduction and comparison of both the superannuation funds is given. A view of target group and client base has also been presented. Also covered in this report are market segments of the funds and their characteristics. Cost-Benefit technique has been applied to analyse marketing strategies and efforts of both the funds. The report also discusses current and proposed marketing strategies both funds. Digital media, social media and traditional marketing strategies have been discussed. Marketing tools and advertisement efforts have also been analysed. A review and monitoring process of both the companies is also discussed along results of cost-benefit analysis. After evaluating the results of cost-benefit analysis and strategies of the funds it is concluded that AustralianSuper is better performing than AMP Superannuation Savings Trust. References Adler, M. (2010). A study of marketing and online marketing tools which improve online success. Munich, Germany: GRIN Verlag. AMP. (2017). Retrieved February 23, 2018, from https://www.amp.com.au/content/dam/amp/digitalhub/common/Documents/global/Trustee%20documents/SST_annual_report.pdf AustralianSuper. (2017). Retrieved February 23, 2018, from https://www.australiansuper.com/-/media/australian-super/files/about-us/annual-reports/2017-annual-report.pdf Ayadi, R. Mouley, S. (2013). Monetary Policies, Banking Systems, Regulatory Convergence, Efficiency and Growth in the Mediterranean. USA:Springer. Burchill, S. (2017). 6 Ways AMP is nailing financial content marketing. Retrieved February 23 2009, from https://www.thedubs.com/6-ways-amp-nailing-financial-content-marketing/ Campbell, H. F. Brown, R. P. C. (2015). Cost-benefit analysis: Financial and economic appraisal using spreadsheets. NewYork, USA : Routledge. Ferrel, O. C. Hartline, M. (2013). Marketing strategy, text and cases (6th ed.). Ohio, USA: Cengage Learning. Gbadamosi, A. (2013). Principles of marketing: A value-based approach. London, UK :Macmillan International Higher Education. Homewood, S. (2016). Marketing Dividends: AustralianSuper marketer on digital and millennials. Retrieved February 23 2009, from https://www.adnews.com.au/news/marketing-dividends-australiansuper-marketer-on-digital-and-millennials Jefkins, F. (2012). Modern marketing communications. Glasglow, London:Springer Science Business Media. Mcghee, F. (2013). Our great customer service in our Great United States: Whatever happened to good customer? Indiana, USA : Xlibris Corporation. Saunders, R. P. (2015). Implementation monitoring and process evaluation. California, USA: SAGE Publications. Smith, B. ( 2012). Self managed superannuation fund handbook: A practical guide to starting and managing your own fund. Melbourne, Australia:John Wiley Sons. Solomon, M. R. Lowrey, T. M. (2017) The routledge companion to consumer behaviour. New York, USA : Routledge. Sun, S. (2009). An analysis on the conditions and methods of market segmentation. International Journal of Business and Management. 4(2), 63-70 Superguide. (2017). AMP superannuation savings trust. Retrieved from https://www.superguide.com.au/super-funds-guide/amp-superannuation-savings-trust Superguide. (2017). AustralianSuper. Retrieved from https://www.superguide.com.au/super-funds-guide/australiansuper Zopounidis, C. (2012). New trends in banking management. New York, USA :Springer Science Business Media.

Similarities and Differences in the Criminal Subculture free essay sample

The Similarities and Differences in the Criminal Subculture and the police A police officers job is to protect and serve. An officer is to offer assistance to those in need and to enforce the laws established by the law makers. A police officers job is not the monotonous 8-5 job that most have.. It is ever changing, 24-7. It is not a normal environment. Think about it, a police officer runs into a gun fight.. .. Normal folks run away from it!A criminal is the exact opposite of a police officer. They often do not have jobs and those that do are normally using their job to commit their crimes! They are interesting in protecting and serving themselves and those in their group but thats where it stops. A criminal is normally self-absorbed and is obviously not enforcing laws but rather breaking them. However, a criminals job is rarely monotonous and is certainly not normal. We will write a custom essay sample on Similarities and Differences in the Criminal Subculture or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page As for the gun fights that cops run to, the criminals are the ones having it in the first place!So you see, while the goals and objectives of a police officer and a criminal are polar opposite, they also have many similarities. They are both a subculture of the population as a whole. A subculture is a subdivision of a culture defined by occupation, ethnicity, class, or residence. A subculture forms a functioning group, unified by shared values, beliefs, and attitudes. The police subculture and the criminal subculture are both based on shared expectations about human behavior (Lyman, 1999). It is interesting to research how these subcultures develop. The police subculture develops from a work environment.Officers see multiple problems and are placed in situations where they must grapple with he serious problems in life. These include the problems of injustice, pain, suffering, and death. This environment begins shaping an officers interpretation of events. What they would normally view as heart wrenching over the years becomes just another day/ (Lyman, 1999). Police officers have an incredible amount Of authority. Police officers are a symbol Of authority that must often be assertive in establishing authority with citizenry. This can lead to conflict, hostility, and perhaps overreaction and police brutality.Officers are expected to remain detached, neutral, and unemotional even hen challenged and in situations of conflict. There is a high sense of morality in the law enforcement subculture. Morality helps police overcome dilemmas. These dilemmas include the dilemma of contradiction between the goal of preventing crime and the polices inability to do so, the dilemma of using discretion to handle situations that do not always strictly follow established procedure and the dilemma officers face when they must invariably act against at least one persons interest, including the possibility of injuring or killing someone.Morality is helpful in encouraging police to serve he public under difficult conditions, but may also lead to negative impact if police use morality to engage in categorizing people (Hickman, Vaquero, and Greene, 2004). Police officers are also constantly faced with danger. Officers become what a normal person might see as paranoid because they are so attentive to signs of potential violence because they work in dangerous situations. The colonization process starts from the beginning and teaches recruits to be cautious and suspicious.Orientation toward watching and questioning can also contribute to tension and conflict in contacts with the public. Police officers are constantly on edge watching for unexpected dangers, on duty and off duty (Layman, 1999). Based on all of the factors and even though the public is generally supportive of the police, the police often perceive the public to be hostile. For this reason, officers tend to socialize primarily with other officers. An officers contact with the public is frequently during moments of conflict, crisis, and emotion.Because police officers are identified by their jobs, members of the public frequently treat them as police, even when off-duty. This increases the need for bonding and socializing between officers, officers families, and families of other officers. Officers are often unable to step back from jobs and separate their professional and personal lives (Hickman et al, 2004). Because this separation is so difficult, officers often manifest a perceived sense of factorization. This is where someone feels like a victim, whether real or imagined, is also the first step on the Continuum of Compromise.As a sense of perceived factorization intensifies, officers become more distrusting and resentful of anyone who controls their job role (Lyman, 1999). Sometimes the perceived sense of customization leads to the second step on the slippery slope which is Acts of Omission. This occurs when officers rationalize and justify not doing things they are responsible for doing. Acts of Omission can include selective non- productivity, such as ignoring traffic violations or certain criminal violations.It can also include Not seeing or avoiding on-sight activity, superficial investigations, omitting paperwork, lack of follow up, doing enough to just get by and other activities which officers can easily omit (Lyman, 1999). Once officers routinely omit job responsibilities, the journey to the next Step is not difficult one to make, Acts of Commission. At this stage, instead of just omitting duties and responsibilities, officers commit administrative violations. Breaking small rules is no big deal. Unsuspecting officers can unwittingly travel to the next and final stage of the continuum, Act of Commission- Criminal. A gun not turned into evidence and kept by the officer can become Its just a dopers. Whats the big deal? The initially honest, dedicated, above reproach officer is now asking, Where did it all go wrong? How did this happen as they face realities of personal and professional devastation and rimming prosecution. Officers who reach the final stage did not wake up one day and take a quantum leap from being honest hard working officers to criminal defendants (Lyman, 1999).According to Lawrence (201 0), The code of silence prevails among many police officers. Policemen often face a difficult decision every day on their beat: loyalty to their community versus loyalty to their fellow officers. Because of this code of silence, some officers may choose loyalty to their fellow officers rather than protecting and serving the community. Lawrence (2010) suggests that this can be attributed to the allowing: First of all, police officers are an identifiable group with uniforms, badges and guns. Secondly, this group shares a common way of life.They share similar dangers, setbacks, and rewards that outsiders rarely see outside of the movies. Thirdly, these dangers foster an us against them mentality not just against criminals but politicians, bureaucrats and concerned citizens who are perceived as impediments to enforcing the law. Police officers have a hard job. They truly are servants who see things most could never even fathom. It is a subculture filled with adrenaline rushes where failure is not an option. It is one where the officer must out smart and out fight the bad guy.To do otherwise could and has often lead to the demise of the officer or to those he is trying to protect. It is no wonder they develop a subculture and while this subculture is not necessarily wrong and may even be healthy, It can also spiral across the line and become a different kind of subculture. There are multiple theories on the criminal/delinquent subculture. One that has similarities with the police subculture is Walter Millers theory. Miller explained crime in terms of a distinctive lower-class subculture.He believed hat Americans in the lower-class social bracket had developed a subculture which had its own values and traditions separate from those in a higher social bracket. These values and way of life were passed on from generation to generation. The values inherent in the lower-class culture actively encouraged lower-class men to commit crime. This subculture had a range of interests and characteristics, sometimes referred to as focal concerns, of its own which included an appreciation of toughness, smartness and excitement (Jacobs, 1994).Miller explained toughness as an expression of masculinity, rejecting immunity and weakness. The toughness manifestation can lead to violence in order to maintain a reputation for toughness. Toughness can be seen in the police subculture as well (Jacobs, 1994). Another focal concern that Miller explained was smartness. Smartness is the quality that emphasizes the ability to outsmart or con another person (Jacobs, 1994). As previously discussed, officers must outsmart the criminal, even if they must use trickery, which is allowed by the courts.Police officers are not normally lab. Years but they must have the smartness of not only a lawyer, but also a social worker, actor, judge, psychologist, etc. Another focal concern that Miller explained was excitement. In this focal concern, the person is searching for emotional stimulus and excitement. Excitement is found in gambling, sexual adventures and alcohol. All these activities can be obtained during a night out on the town (Jacobs, 1994). The desire to be tough and smart and to seek excitement, carries risk. The result can be physical harm and disruption to ones life.Miller explained that with specific regard to adolescents in lower- class subculture, such activities and focal concerns are particularly exaggerated because the generally belong to a peer group which demands conformity to group norms. In addition, adolescents are especially concerned about status which is achieved via peer group norms. In other words, status here will derive from being tough and smart in the eyes of peers (Jacobs, 1994). Miller believed that delinquency was essentially about the acting out of the focal concerns Of lower-class subculture (toughness, smartness etc. Its roots lay in the colonization into a subculture with a distinctive tradition, many centuries old with an integrity of its own. Such a subculture has a life of TTS own. The reason for its existence is due to a need for a pool of low-skilled laborers. These kinds of workers had to be able to tolerate routine, repetitive work as well as periods of unemployment. Lower-class subculture, with its emphasis on excitement and risk-taking activities, allowed these workers to endure the monotony of their work. The activities of the delinquent subculture relieved them from the boredom of their working lives (Jacobs, 1994).While Miller focused on a social approach to explaining delinquent subcultures, Gresham Sykes and David Matzo wanted to build upon Arthur Sutherland Differential Association theory which stated that an individual learns criminal behavior through (a) techniques of committing crimes and (b) motives, drives, rationalizations, and attitudes which go against law-abiding actions Jacob, 1994). Naturalization is a technique which allows the person to rationalize or justify a criminal act. Sykes and Matzo defined five techniques of naturalization.They are denial of responsibility, denial of injury, denial of victim, condemnation of the condemners, and the appeal to higher loyalties (Jacobs, 1994). Denial of responsibility is a technique used hen the deviant act was caused by an outside force. This technique goes beyond looking at the criminal act as an accident. The individual feels that they are drawn into the situation, ultimately becoming helpless. These juveniles feel that their abusive families, bad neighborhoods and delinquent peers predispose them to criminal acts (Jacobs, 1994). Denial of injury occurs when the criminal act causes no harm to the victim. Criminal acts are deemed deviant in terms of whether or not someone got hurt. Using this technique, the delinquent views stealing as merely borrowing. The use of this quench is reaffirmed in the minds of these juveniles when society does not look at certain acts, such as skipping school or performing practical jokes, as criminal, but merely accepts them as harmless acts (lacily, 1994). Denial of victim is used when the crime is viewed as a punishment or revenge towards a deserving person.This technique may be used by those who attack homosexuals or minority groups. They deserve it. Jacob, 1994) The technique called the condemnation of the condemners places a negative image on those who are opposed to the criminal behavior. The juvenile ends p displacing his deviant behavior on those they are victimizing and also viewing the condemners as hypocrites, such as corrupt police and judges (Jacobs, 1994). The appeal to higher loyalties technique is used when the person feels they must break the laws of the overall community to benefit their small group or family.This technique comes into play when a juvenile gets into trouble because vitrifying to help or protecting a friend or family member (Jacobs, 1994). So how does the police subculture and the criminal subculture because one in the same? Are there focal concerns truly similar as Miller suggested? Or are there similarities emerge due to the five techniques of naturalization? While both arguments are compelling, a recent article in the Arkansas Democrat Gazette summarized this potential similarity in the two grou ps very well so I will end with this article.YOURE SPECIAL. Youre special because you have a badge. You can ticket mayors. You can stop a governor on the highway. Havent you seen the movies? Cops are special. Youre special because you can give an athlete a break. A hell of a break. Youre special because you can even chew him out while youre doing it. Youve got a career ahead of you What I should do is bend you over here and whap your butt. Youre special because you can tell a prominent athlete you should whap his butt.Youre special because you can tell a kid youre taking his gun and letting his coach decide what to do with it. Not a judge and jury. Youre special enough that you dont need a judge and jury. You are judge and jury. Its confirmed. Youre special. Then the whole matter becomes public. Then youre no longer so special. Youre not even on the force any longer. What happened? When did you stop being special? Answer: not soon enough. Because if you hadnt been allowed to think you were special, you would have stuck to the rules and regulations and still have that badge.Those of us who let you develop that illusion did you no favors. There are a couple of lessons here-?at least. Certainly for Arkansas State University athletes, or any athletes at any college. Certainly for the Arkansas State Police, or any lawmen at any agency. Heres hoping other athletes and other law officers have learned by these sad examples in last weeks news. And that the rest Of us have learned something, too-?about humility and equal treatment under the law and not to assume were so special, either.

Sample Responses to a College Deferral Letter

Sample Responses to a College Deferral Letter If you applied to college through an Early Action or Early Decision option, you may find that youve been neither accepted nor rejected, but deferred. Many applicants despair when their application for early admission ends up in this frustrating limbo for it feels much like a rejection. It is not, and you can take steps to improve your chances of getting admitted with the regular admission pool. One easy step is to write the college a response to your deferral letter. Key Takeaways: Responding to a College Deferral If you have new information that could strengthen your application, share it with the admissions folks. This can include improved test scores, a new award, or a new leadership position.Be positive: reaffirm your interest in the school, and dont let your anger and frustration at being deferred darken your letter. Be careful not to suggest the admissions folks made a mistake.As with all written parts of your applications, pay careful attention to grammar, punctuation, and style. Colleges want to admit students who write well. Always remember that if the college did not think you had the qualifications necessary to be admitted, you would have been rejected, not deferred. Essentially, the school is telling you that you have what it takes to get in, but they want to compare you to the full applicant pool. You simply didnt stand out quite enough to be admitted with the early applicant pool. By writing to a college after being deferred, you have the opportunity to both reaffirm your interest in the school and present any new information that might strengthen your application. So, dont panic if you received a letter of deferral after applying to college through  early decision  or  early action. Youre still in the game.  First, read through these  7 tips on what to do if deferred. Then, if you think you have meaningful new information to share with the college that has deferred your admission, write them a letter. Sometimes you can write a simple  letter of continued interest  even if you dont have new information to share, although some schools explicitly state that such letters are not necessary, and in some cases, not welcome (admissions offices are extremely busy in the winter). Sample Letter from a Deferred Student Below is a sample letter that would be appropriate if deferred. Caitlin has a significant new honor to report to her first choice college, so she certainly should make the school aware of the update to her application. Note that her letter is polite and concise. She doesnt express her frustration or anger; she doesnt try to convince the school that theyve made a mistake; instead, she reaffirms her interest in the school, presents the new information, and thanks the admissions officer. Dear Mr. Carlos, I am writing to inform you of an addition to my  University of Georgia  application. Although my admission for Early Action has been deferred, I am still very interested in UGA and would very much like to be admitted, and therefore I wish to keep you up to date on my activities and achievements. Earlier this month I participated in the Siemens Competition in Math, Science and Technology in New York City. My high school team was awarded a $10,000 scholarship for our research on graph theory. The judges consisted of a panel of scientists and mathematicians led by former astronaut Dr. Thomas Jones; the awards were presented at a ceremony on Dec. 7. Over two thousand students entered this competition, and I was extremely honored to be recognized alongside the other winners. More information on this competition can be found through the Siemens Foundation web site: siemens-foundation.org/en/. Thank you for your continued consideration of my application. Sincerely, Caitlin Anystudent Discussion of Caitlin's Letter Caitlins letter is simple and to the point. Given how busy the admissions office will be between December and March, short is important. It would reflect poor judgment if she were to write a lengthy letter to present a single piece of information. That said, Caitlin could strengthen her letter slightly with a few tweaks to her opening paragraph. Currently she states that she is still very interested in UGA and would very much like to be admitted. Since she applied Early Action, we can assume that UGA was among Caitlins top choice schools. If so, she should state this. Also, it doesnt hurt to briefly state why UGA is a top choice school. As an example, her opening paragraph could state something like this: Although my admission for Early Action has been deferred, UGA remains my top-choice university. I love the energy and spirit of the campus, and I was truly impressed by my visit to a sociology class last spring. I am writing to keep you up to date on my activities and achievements. A Second Sample Letter Dear Mr. Birney, Last week I learned that my application for early decision at Johns Hopkins was deferred. As you can imagine, this news was disappointing to me- Johns Hopkins remains the university Im most excited about attending. I visited a lot of schools during my college search, and  Johns Hopkinss program in International Studies appeared to be a perfect match for my interests and aspirations, and I loved the energy of the Homewood Campus. I want to thank you and your colleagues for the time you put into considering my application. After I applied for early decision, I received a couple more pieces of information that I hope will strengthen my application. First, I retook the SAT in November and my combined score went from 1330 to 1470. The College Board will be sending you an official score report soon. Also, I was recently elected to be the Captain of our school Ski Team, a group of 28 students who compete in regional competitions. As Captain, I will have a central role in the teams scheduling, publicity and fund raising. I have asked the teams coach to send you a supplemental letter of recommendation that will address my role within the Ski Team. Many thanks for your consideration, Laura Anystudent Discussion of Laura's Letter Laura has good reason to write to Johns Hopkins University. The 110 point improvement on her SAT scores is significant. If you look at this  graph of GPA-SAT-ACT data for admission to Hopkins, youll see that Lauras original 1330 was on the lower end of the accepted student range. Her new score of 1470 is nicely in the middle of the range. Lauras election as Captain of Ski Team may not be a game-changer on the admissions front, but it does show more evidence of her leadership skills. Especially if her application was originally light on leadership experiences, this new position will be significant. Finally, Lauras decision to have a supplemental  letter of recommendation  sent to Hopkins is a good choice, particularly if her coach can speak to abilities that Lauras other recommenders did not. Don't Make the Mistakes in This Letter The letter below illustrates what you should not do. Brian asks to have his application reconsidered, but he does not present any significant new information for reconsidering the decision. The increase in his GPA from a 3.3 to a 3.35 is fairly trivial. His newspaper has been nominated for an award, but it has not won the award. Moreover, Brian writes as if he has been rejected, not deferred. The university will look at his application again with the regular pool of applicants. The biggest problem  with the letter below, however, is that Brian comes across as a whiner, an egotist, and an ungenerous person. He clearly thinks very highly of himself, placing himself above his friend and making much ado about a modest 3.3 GPA. Does Brian really sound like the type of person the admissions officers will want to invite to join their campus community? To make matters worse, the third paragraph in Brians letter essentially accuses the admissions officers of making a mistake in admitting his friend and deferring him. The goal of Brians letter is to strengthen his chances of getting into college, but questioning the competence of the admissions folks works counter to that goal. To Whom It May Concern: I am writing in regards to my deferral for admission to Syracuse University for the fall semester. I received a letter earlier this week informing me that my admission had been deferred. I would like to urge you to reconsider me for admission. As you know from my previously submitted admissions materials, I am a very strong student with an outstanding academic record. Since I submitted my high school transcript in November, I have received another set of mid-year grades, and my GPA has gone up from a 3.3 to 3.35. In addition, the school newspaper, of which I am assistant editor, has been nominated for a regional award. Frankly, I am somewhat concerned about the status of my admission. I have a friend at a nearby high school who has been admitted to Syracuse through early admissions, yet I know that he has a somewhat lower GPA than mine and has not been involved in as many  extracurricular activities. Although he is a good student, and I certainly do not hold anything against him, I am confused about why he would be admitted while I have not been. Frankly, I think that I am a far stronger applicant. I would very much appreciate it if you could take another look at my application, and reconsider my admissions status. I believe I am an excellent student  and would have much to contribute to your university. Sincerely, Brian Anystudent A Final Word on Responding to a Deferral As with any communication with a college, youll want to pay careful attention tone, grammar, punctuation, and style. A sloppily-written letter is going to work against you, not strengthen your application. Finally, keep in mind that writing a letter when deferred is optional, and at many schools it wont improve your chances of being admitted. You should definitely write if you have compelling new information to present (dont write if your SAT score went up just 10 points- you dont want to look like youre grasping). And if the college doesnt say not to write a letter of continued interest, it can be worthwhile to do so.

Introduction of Econometric Assignment Example | Topics and Well Written Essays - 750 words

Introduction of Econometric - Assignment Example The study aimed at determining the determinants of hourly pay (dependent variable). The estimated constant and coefficients had a p- value approximately equal to zero and therefore were statistically significant at 5% significant level. Secondly the model was found to be correctly specified with a probability F approximately equal to 0. However, R-squared equalled to 0.2571, implying that the model was not that good, as the explanatory variables , education and experience only accounted for 25.7% of all changes accruing to hour pay, worse though, they accounted for 25.56% when adjusted for degrees of freedom( adjusted R squared =0.2556). Given poor goodness of fit, it was hypothesized there was gender discrimination in hourly pay distribution, hence making gender an explanatory variable. As matter of fact, male hourly wages averaged higher than females’ (table 2). The implication is that men generally earnings are higher than women. The overall model remained significant (prob. F approximately equal to zero). Goodness of fit improved to 0.3042 and 0.3021 when adjusted for degrees of freedom. Although the constant tested not statistically different from zero (p-value 0.073) at 95% confidence level, the coefficients remained statistically significant and hence it was induced that holding education and experience constant, males earn 2.389 euros more than females per hour. The overall fitness of the model improved (R2 = 0.3160 and adjusted R2 = 0.3132), hence making it better than the previous. F-test maintained that the overall model was correctly specified and all coefficients as well as the constant were statistically different from zero with at 1% significance level. According to the estimated model, the reward for an extra year of experience was 0.5632 euros higher in male than in females, holding other variables constant. Secondly, ceteris paribus, females were rewarded 0.3903 euros less

Innovation, Technology Essay Example | Topics and Well Written Essays - 4000 words

Innovation, Technology - Essay Example The objective of this paper is to determine whether technology significantly impacts the core strategies and organization of companies to the extent that it should be considered as the primary means of initiating innovation or development. For the purpose of this study, The validity of the statement will consider in both public as well private enterprises from small to large scale. In the course of the discussion, the research will also determine effective applications of technology, how it is changing markets and industries and the developing challenges for companies with its utilization. The application of technology necessitates a study of the relationship of productivity and technology. The debate on whether productivity paradoxes really do exist has become an issue for analysts and managers once more with the shift towards digitization. Consider the implications of the productivity paradox or the Solow computer paradox that Robert Solow theorized in response to the mechanization of clerical work. According to Solow that, "You can see the computer age everywhere but in the productivity statistics," (Greenan et al, 2002, p. 42). The productivity paradox implies that as technology is introduced to a system, in particular information technology, work productivity decreases (McGovern, 2001). If the paradox is to be accepted as true, then technology contravenes productive strategies. However, Dusharme (2001) points out that these impacts are part of the process of adaptation, similar to competency development learning curves. Furthermore, Suter (2007) points out that many companies have considered alternatives to techno-based strategies because of the cost of implementation as well as discrepancies in information literacy in international markets. In Tubbs and Schulz (2006) study, he concluded that lags in productivity in technology-related initiatives can be attributed to the lack of channels where the technology can be learned or used. Explanations for the decline in productivity pointed out the need for technology to be prevalent before it impacts productivity significantly. Thus, later adaptation to technology creates less vulnerability to productivity paradoxes: the implication is that later access to emerging technologies, with the assumption that there has bee growth in software and applications available, is a more viable choice to ensure productivity. Technology and Business Operations According to there should be a realization that the technology is a tool and the degree of its impact is dependent on other strategies (Womack et al, 1991). The bulk of technology adaptations and strategies have focused on information and communications technologies. Among the benefits that have been seen is the increase in communication and networking capacity technology provides (Insinga & Werle, 2000). For example, the utilization of VOIP (voice over internet protocol) operations has become critical in the management or trafficking PSTN calls locally and internationally as well as mobile communications; IP Multimedia Subsystems (IMS) are providing platforms for the incorporation of internet technologies with business operations; as well facilitated the actual interface of VOIP infrastructure with PSTN; and the rise of network societies, referring to online communities and feedback systems,

Discussion Question Essay Example | Topics and Well Written Essays - 250 words - 11

Discussion Question - Essay Example Personally, the author thinks that utilitarianism should be observed which means for the benefit of the majority. The concept supporting it is called teleological theory. It is the ethical theory that focuses on the end result which is in favor of the majority (Timby 44). In addition, fidelity and justice must be observed in rescuing those people in the hospital. Both principles are important as the former provides a work-related commitment of nurses while the latter provides an indiscriminate way of helping others (Ibid 46). 3. It may be risky but saving lives should be the priority. Self-interest may be put aside, but it does not mean that the lives of the five people in that situation must be ended. They may look for alternatives in helping them like calling the nearest fire brigade and disaster response team. In addition, the doctor and Peter must follow the example of Margaret in saving the lives of other patients. Doctors must also ensure the interest of the patients before their own as it is part of their oath and core values. On the other hand, Peter also has a responsibility in saving the patients since it is part of his duty to prepare any rescue and evacuation procedures in case of emergencies. 4. The possible consequences may be the deaths of those who went down to rescue the remaining patients in the damaged hospital. Recent hurricane has destroyed the hospital together with the crashing helicopter. On the other hand, it is also possible that more lives will be saved without any casualties if there would be other rescuers. 5. The alternatives can be prioritized by following the values that must be rendered by the profession in saving lives and prioritizing the welfare of the patients. It is quite normal for people to become scared and risk their lives since they may die in the process. It may be overcome by allowing the utilitarian perspective to be the guide in decision-making. 6. The doctor and Peter must follow the

Effects of Foreign Direct Investment

Effects of Foreign Direct Investment The removal of cross-border restrictions on international capital flows and the trend toward an integrated world economy has been a substantial progress over recent two decades. Hence, it has increased the growth of foreign direct investment(FDI) activity. Madura and Fox (2007) define foreign direct investment (FDI) as the investment in real assets (such as land, buildings, or even existing plants) in foreign countries. They also find that multinational corporations(MNCs) commonly capitalize on foreign business opportunities by engaging in FDI. They engage in joint ventures with foreign firms, acquire foreign firms, and form new foreign subsidiaries. These types of FDI can generate high returns when managed properly. A substantial investment is required, and thus can increase the risk at capital. It may be difficult for multinational corporation to sell the foreign project when the investment does not perform well as expected. In order to maximize the corporations value, it is significant for MNCs to understand the potential return and risk of FDI and analyze the potential benefits and costs before making investment decisions. 2.1.2 Motives for FDI The reason why firms locate production oversea rather than exporting from the home country or licensing production in the hose country, and the reason why firms seek to extend corporate control oversea by forming multinational corporations have been developed by many scholars. Kindleberger(1969) and Hymer(1976), emphasize various market imperfections in product, factor, and capital markets as the key motivating forces to accelerate FDI. Eun and Resnick (2004) explore some key factors that are important for corporations making decisions to invest oversea. These factors include trade barriers, imperfect labor market, intangible assets, vertical integration, product life cycle and shareholder diversification services. Dunning (1993) interpret four different types of motives for foreign direct investment: resource seeking, market seeking, efficiency seeking, and strategic asset (or capability )seeking. The first motive means that MNCs acquire some particular resources which may mainly cnsist of primary products at a lower cost in the host country than at home. The second motive depends on the expectation of new sales opportunities from the opening of markets where MNCs had no access at before. The third one refers to utilizing the specific comparative advantages of a host economy. The last one is related with long-term strategic considerations such as gaining an significant stake in the market in the long run. To be more specific, Madura and Fox (2007) indicate that MNCs engage in foreign direct investment widely because it can improve profitability and enhance shareholder wealth. In most cases, MNCs utilize FDI to boost revenues, reduce costs, or both. Revenue-related motives include attract new source of demand, enter profitable markets, exploit monopolistic advantages, react to trade restrictions and diversify internationally. Cost-related motives involve fully benefit from economies of scale, use foreign factors, use foreign raw materials, use foreign technology and react to exchange rate movements. 2.1.3 Benefits of FDI It seems unwise to conclude that both forms of geographic diversification are likely to be equally profitable or unprofitable. Errunza and Senbet (1981, 1984) find evidence to support a positive relation between excess firm value and the firms extent of international diversity by using multinational firms only. Focusing on international acquisitions, Doukas and Travlos (1988) and Doukas (1995) document that US bidders gain from industrial and international diversification. Similarly, Morck and Yeung (1991, 2001) find a positive relation between international diversification and firm value. However, they show that industrial diversification and international diversification add or destroy value in the presence or absence of intangible assets. Their findings support the view that the synergistic benefits of international diversification stem from the information-based assets of the firm. Christophe and Pfeiffer (1998) and Click and Harrison (2000) find that multinational firms trade at a discount relative to domestic firms. More recently Denis, Denis and Yost (2002), using the Berger and Ofek (1995) excess value measure and aggregate data, show that global diversification reduces shareholder value by 18%, whereas industrial diversification results in 20% shareholder loss. In contrast, Bodnar, Tang and Weintrop (1999), relying on a similar valuation measure, find share-holder value to increase with global diversification. Doukas and Lang (2003) take firms which made foreign new plant announcements during the period 1980 1992 as a sample, regardless of the industrial structure of the firm, they interpret that unrelated foreign direct investments are associated with negative announcement effects and long-term performance decreases in subsequent years, whereas related investments are associated with positive short-term and long-term performance. Although their findings indicate that both specialized and diversified firms benefit from core-business-related rather than non-core-business-related foreign direct investments, the gains are larger for diversified firms. They conclude that geographic expansion of the firms core business itself is beneficial to shareholder value. In contrast, they find that geographic expansion of the firms peripheral (non-core) business harms firm value and performance. Hence the evidence indicates that the internalization theory is more consistent with the international expans ion of the core rather than the non-core business of the firm. That is, the positive synergies from global diversification are rooted in the firms core competencies. Theories of foreign direct investment (FDI) agree on at least one major point: foreign firms mush have inherent advantages that allow them to overcome the higher costs of becoming a multinational (Hymer, 1976) These advantages may be tangible, such as an improved production process or a product innovation. They also may be intangible, such as brand names, better management structures or the technical knowledge of employees. Girma, Greenaway and Wakelin (2001) conclude that foreign firms do have higher productivity than domestic firms and they pay higher wages in the UK after their investigation. They do not find aggregate evidence of intra-industry spillovers. However, firms with low productivity relate to the sector average, in low-skill low foreign competition sectors gain less from foreign firms. FDI brings two main benefits to the host country. First, it introduces new production facilities into the domestic economy directly, or may rescue failing firms in the case of acquisition, raising overall output, employment and exports. Second, domestic governments hope that foreign firms will be unable to internalise their advantages fully, and local firms can benefit through spillover. 2.1.4 Effects of FDI Borensztein, Gregorio and Lee (1998) test the effect of foreign direct investment (FDI) on economic growth in a cross-country regression framework by utilizing data on FDI flows from industrial countries to 69 developing countries over the last two decades. The results suggest that FDI is significant for transfer technology, and contribute more to growth than domestic investment. Moreover, they find that the contribution of FDI to economic growth is improved by its interaction with the level of human capital in the host country. However, the empirical results imply that FDI is more productive than domestic investment only when the host country has a minimum threshold stock of human capital. Thus, FDI contributes to economic growth only when a sufficient absorptive capability of the advanced technologies is available in the host economy. Investigating the effect of FDI on domestic investment, they find that the inflow of foreign capital à ¢Ã¢â€š ¬Ã‹Å"crowds in domestic investment rather than à ¢Ã¢â€š ¬Ã‹Å"crowds out. FDI support the expansion of domestic firms by complementarity in production or by increasing productivity through the spillover of advanced technology. A one-dollar increase in the net inflow of FDI is associated with an increase in total investment in the host economy of more than one dollar, but do not appear to be very robust. Thus, it appears that the main channel through which FDI contributes to economic growth is by stimulating technological progress, rather than by increasing total capital accumulation in the host economy. Markusen and Venables (1999) develops an analytical framework to assess the effects how an FDI project affect local firms in the same industry. There are two forces for the effect of entry of a multinational firm on the domestic industry. One is a competition effect, under which multinationals displace domestic final-goods producers, and the other is a linkage effect back to intermediate-goods producers, creating complementarities which could benefit domestic final-goods producers. They explore the determinants of the relative strengths of these effects. In circumstances of initial equilibrium with no local production, multinational entry can push the economy over to an equilibrium with local production in both the intermediate and final-goods industries, with a resulting welfare improvement. They then pay attention to endogenise the entry decision of multinational firms. It may now also be the case that multinationals provide the initial impetus for industrialisation, but the developed local industry creates sufficiently intense competition to eventually drive the multinationals out of the market. Hobday (1995) finds initial multinational investments in developing East Asia created backward linkage effects to local suppliers in a large number of situations. There are some examples such as computer keyboards, personal computers, sewing machines, athletic shoes, and bicycles in Taiwan. 2.2 Cost of capital and capital structure Many major firms through the world have begun to internationalize their capital structure by raising funds from foreign as well as domestic sources. As a result, these corporations become multinational not only in the scope of their business activities but also in their capital structure. This trend reflects not only a conscious effort on the part of firms to lower the cost of capital by international sourcing of funds but also the ongoing liberalization and deregulation of international financial markets. If international financial markets were completely integrated, it would not matter whether firms raised capital from domestic or foreign sources because the cost of capital would be equalized across countries. On the other hand, some markets are less than fully integrated, firms may be able to create value for their shareholders by issuing securities in foreign as well as domestic markets. Cross-listing of a firms shares on foreign stock exchanges is one way a firm operating in a segmented capital market can lessen the negative effects of segmentation and also internationalize the firms capital structure. For example, IBM, Sony, and British Petroleum are simultaneously listed and traded on the New York, London, and Tokyo stock exchanges. By internationalizing its corporate ownership structure, a firm can generally increase its shares price and lower its cost of capital. 2.2.1 Definition of cost of capital Eun and Resnick define the cost of capital as the minimum rate of return an investment project must generate in order to pay its financing costs. If the return on an investment project is equal to the cost of capital, under taking the project will leave the firms value unaffected. When a firm identifies and undertakes an investment project that generate a return exceeding its cost of capital, the firms value will increase. It is significant for a value-maximizing firm to try to lower its cost of capital. Madura and Fox (2007) explain that a firms weighted average cost of capital (referred to as Kc ) can be measured as: Kc = [D/(D+E )] * Kd * ( 1-t ) + [E / (D+E)] * Ke Where: D = market value of firms debt Kd = the before-tax cost of its debt t = the corporate tax rate E = the firms equity at market value Ke = the cost of financing with equity The ratios reflect the percentage of capital represented by debt and equity, respectively. In total the cost f capital, Kc is the average cost of all providers of finance to the firms. A multinational company finances its operations by using a mixture of fixed interest borrowing and equity financing that can minimize the overall cost of capital (the weighted average of its interest rate and dividend payment). By minimizing the cost of capital used to finance a given size and risk of operations ,financial managers can maximize the value of the company and therefore maximize shareholder wealth. According to the different size of firm, international diversification, exposure to exchange rate risk, access to international capital markets and exposure to country risk, the cost of capital for MNCs may different from that for domestic firms. 2.2.2 Costs of capital across countries Madura and Fox (2007) interpret that the reason why cost of capital is different among countries is relevant for three reasons. First, MNCs based in some countries may have more competitive advantages than others not only for the different technology and resources across countries, but also the cost of capital. MNCs in some countries will have a larger set of feasible projects with positive net present value because of the lower cost of capital, hence these MNCs can increase their world market share more easily. MNCs operating in countries with a higher cost of capital will be forced to decline projects. Second, MNCs may be able to adjust their international operations and sources of funds to capitalize on differences in the cost of capital among countries. Third, the different component as debt and equity in the cost capital can explain why MNCs based in some countries tend to use a more debt-intensive capital structure than others. To estimate an overall cost of capital for an MNCs, it needs to combine the costs of debt and equity, and weight the relative proportions of debt and equity. The cost of debt to a firm is primarily determined by the risk-free interest rate in the currency borrowed and the risk premium required by creditors. Risk-free interest rate is determined by the interaction of the supply and demand for funds. Factors include tax laws, demographics, monetary policies and economic conditions can influence the supply and demand then affect the risk-free rate. The risk premium on debt can vary among countries because of the different economic conditions, relations between corporations and creditors, government intervention, and degree of financial leverage. In addition, a firms cost of equity represents an opportunity cost what shareholders could earn on investments with similar risk if the equity funds were distributed to them. This return on equity can be measured as a risk-free interest rate th at could have been earned by shareholders, plus a premium to reflect the risk of the firm. According to the different economic environments, the risk premium and the cost of equity will vary among countries. 2.2.3 MNCs capital structure decision Madura and Fox.(2007) indicate that an MNCs capital structure decision includes the choice of debt versus equity financing within all of its subsidiaries, hence the overall capital structure is combined of all subsidiaries capital structures. The advantages of using debtor equity vary according to the corporate characteristics specific to each MNC and specific to countries where the MNCs establish subsidiaries. They interpret some specific corporate characteristics which can influence MNCs capital structure. MNCs with more stable cash flows can deal with more debt because their cash flows are constant to cover periodic interest payments. In contrast, MNCs with erratic cash flows might prefer less debt. MNCs with lower credit risk have more access to credit, their choice of using debt or equity can be affected by factors which influence credit risk. MNCs with high profit may be able to finance most of investment with retaining earnings and use an equity-intensive capital structure, while others with small level of retained earnings may prefer on debt financing. The subsidiaries borrowing capacity may be increase and need less equity financing once the parent backs the debt. Agency costs are higher when a subsidiary in foreign country can not be monitored easily be investor from parents country. In addition, they also describe the specific country characteristics unique to each host country can influence MNCs choice of debt versus equity financing and thus influence their capital structure. Firstly, some host countries have stock restrictions which means the governments allow investment only in local stocks. This kind of barrier of cross-border investing, potential adverse exchange rate and tax effects can discourage investment outside home countries. MNCs operated in these countries where investor have fewer stock investment opportunities may be able to raise equity at a relatively low cost, and they would prefer using more equity by issuing stocks. Secondly, according to the government-imposed barriers on capital flows along with potential adverse exchange rate, tax and country risk effects, loanable funds do not always flows th where they are needed most and the price of them can vary across different countries. MNCs may be able to obtain loanable funds at lower cost in s ome countries and they will prefer the debt financing. Thirdly, regard of the potential weakness of the currencies in subsidiaries host countries, an MNC may attempt to finance by borrowing currencies instead of relying on parent funds. Subsidiaries may remit a smaller amount in earning because they can make interest payments on local debt, and thus reduce the exposure to exchange rate. Conversely, subsidiaries may retain and reinvest more of its earnings when the parent believes a subsidiaries local currency will appreciate against its own currency. The parent may provide an cash infusion to finance growth in the subsidiaries, and thus transfer the internal funds from the parent to subsidiary possibly resulting in more external financing by the parent and less debt financing by the subsidiary. Fourthly, possibility of a kind of country risk is that the host country will temporarily block funds to be remitted by subsidiary to the parent. Thus aubsidiraies may prefer to local debt fi nancing. At last, MNCs make interest rate payments on the local debt when they are subject to a withholding tax. Foreign subsidiaries may also use local debt if the host country impose high corporate tax rates on foreign earnings. Bancel and Mittoo (2004) survey on the cross-country comparisons of managerial views on determinants of capital structure in a sample of 16 European countries: Austria, Belgium, Greece, Denmark, Finland, Ireland, Italy, France, Germany, Netherlands, Norway, Portugal, Spain, Switzerland, Sweden, and the UK. They show that factors related to debt are influenced more, and those related to equity are influenced less, by the countrys institutional structure, especially the quality of its legal system. They find that financial flexibility and earnings per share dilution are primary concerns of managers in issuing debt and common stock, respectively. Managers also value hedging considerations and use windows of opportunity when raising capital. This evidence strengthens arguments of La Porta et al. (1997, 1998) that the availability of external financing in a country is influenced primarily by its legal environment. Since agency costs of debt are likely to be higher in countries with lower quality of legal systems, this evidence is also consistent with theories of capital structure such as agency theory that assign a central role to debt contracts and bankruptcy law (Harris and Raviv, 1991). They find that although a countrys legal environment is an important determinant of debt policy, but it plays a minimal role in common stock policy. They find that firms financing policies are influenced by both their institutional environment and their international operations. They also show that firms can adopt strategies to mitigate the negative effects of the quality of the legal environment in their home country. For instance, firms in civil-law countries have significantly higher concerns for maintaining target debt-to-equity ratios and matching maturity than do their peers in the common-law countries. Further, they find that firms operating internationally have significantly different views than do their peers in several ways. For example, firms that have issued foreign debt or equity in the sample during the last ten years are more concerned about credit ratings. Firm-specific variables that are commonly used in the capital structure literature to explain leverage also expla in cross-country differences in managerial rankings of several factors. For example, large firms are less concerned about bankruptcy costs, and high growth firms consider common stock as the cheapest source of funds and use windows of opportunity to issue common stock. These results support the arguement by Rajan and Zingales (1995, 2003), that firms capital structures are the result of a complex interaction of several institutional features as well as firm characteristics in the home country. Their results support that most firms determine their optimal capital structure by trading off factors such as tax advantage of debt, bankruptcy costs, agency costs, and accessibility to external financing. They confirm the conclusions of Titman (2002): Corporate treasurers do occasionally think about the kind of trade-offs between tax savings and financial distress costs that we teach in our corporate finance classes. However, since this trade-off does not change much over time, the balancing of the costs and benefits of debt financing that they emphasize much is not MNCs major concern. They spend much more time thinking about changes in market conditions and the implications of these changes on how firms should be financed. Lee and Kwok (1988) examine the impact of international environmental factors on some firm-related capital structure determinants which in turn affect the MNCs overall capital structure. They consider international environmental variables of political risk, international market imperfections, complexity of operations, opportunities for international diversification, foreign exchange risk and local factors of host countries, and test agency costs and bankruptcy costs. They find that MNCs tend to have higher agency costs of debt according to Myers definition than DCs. This finding remained unchanged even when size and industry effects were controlled. Though MNCs appeared to have lower bankruptcy costs than DCs, the difference largely disappeared when the size effect was controlled. Quite contrary to the conventional wisdom, the empirical findings showed that MNCs tended to be less leveraged than DCs. This finding remained even when the size effect was controlled. However, when compani es were separated under different industry groups, the results varied significantly. Burgman (1996) directly estimate the effect of foreign exchange risk and political risk on the capital structure of MNCs. Using the foreign tax ratio to classify firms as either MNCs or DCs and controlling for industry and size effects, Burgman finds that MNCs have lower debt ratios and higher agency costs than DCs. Furthermore, international diversification does not appear to lower earnings volatility. To estimate the sensitivity of a firm to foreign exchange risk, Burgman conducts a regression analysis of the stock returns of each sample firm on the returns of an index of U.S. stocks and on the U.S.$:SDR returns. His political risk measure is based on the following ratio: number of low political risk countries to the total number of countries in which the firm operates. Low political risk countries are the top 20 in the country risk rankings provided by Euromoney in 1989. The results of a regression analysis for his sample of MNCs suggest that the debt ratios of these companies are positively related to both risks. Burgman concludes that this evidence is consistent with the hypothesis that MNCs use debt policy as a tool to hedge foreign exchange risk and political risk. Chen et al. (1997) conducted regression analyses to investigate the effect of international activities (as measured by foreign pre-tax income) on capital structure. They report that even after controlling for firm size, agency costs of debt, bankruptcy costs and profitability, the long-term debt ratios of MNCs are lower than those of DCs. However, within their sample of MNCs, debt ratios increase with the level of international activities. 2.2.4 Segmented capital market A capital market for asset claims is integrated when the opportunity set of investments available to each and every investor is the universe of all possible asset claims. In contrast, a capital market is segmented when certain groups of investors limit their investments to a subset of the universe of all possible asset claims. Such market segmentation can occur because of ignorance about the universe of possible asset claims, or because of transactions costs (brokerage costs, taxes, or information acquisition costs), or because of legal impediments. From an international perspective, market segmentation typically occurs along national borders, a condition wherein investors in each country acquire only domestic asset claims. Grubel, Levy and Sarnat, and Lessard employ a mean-variance portfolio theoretic framework, have stressed the benefits of diversifying investments across national borders, namely the pooling of risks that results from investing in projects that are less than perfectly correlated. Subrahmanyam points out that when segmented capital markets are integrated, in addition to the diversification effect (always positive), there is a wealth effect (possibly negative) which arises out of changes in the macro-parameters of the risk-return relationship. For the special cases of quadratic, exponential, and logarithmic utility functions, it can be shown that international capital market integration is Pareto-optimal, that is, the welfare of individuals in the integrated economies will not decline, and will generally improve. The positive effect of an expansion in the opportunity set offsets any negative wealth effect. The market reformed and liberalized in developed economies in the 1970s and emerging economies during the second half of the 1980s led to the removal of many barriers. The deregulation and the development of local equity markets allowed the possibility of foreign portfolio investments (FPIs). Overall, FPIs would provide a new source of capital and internationalize the domestic capital markets. Subsequent improvements in risk sharing and risk matching would cause the cost of capital to fall. Errunza and Miller (2000 ) use a sample of 126 firms from 32 countries, document a significant decline of 42% in the cost of capital. In addition, they show the decline is driven by the ability of U.S. investors to span the foreign security prior to cross-listing. The findings support the hypothesis that financial market liberalizations have significant economic benefits. 2.2.5 Interaction between subsidiary and parent financing decisions In segmented markets the parent and its subsidiaries will generally have different valuation objectives and investment-acceptance criteria. Under some conditions these depend on the international financing mix. Decentralization can be optimal in the sense of global maximization, provided that the parent is unrealistically free, ex-ante, to optimize its percentage ownership in the subsidiaries at the beginning of each planning period. In the case of a two-country firm, the subsidiaries maximands are independent of the parents. But when the parents ownership position is predetermined at a fixed level, as it is normally, the situation is radically different. Market values cannot then be maximized independently and Pareto optimization is required. Michaels (1974) main result is that, unless agreement can be reached on a compensation principle, the joint ventures cost of capital will be indeterminate. In such circumstances optimal financial planning for the MNC as a whole may be impossibl e. Concluding remarks draw attention to the attendant possibility that the MNC in this case may be unstable and/or inefficient. 2.2.6 The MNCs capital structure decision An MNCs capital structure decision involves the choice of debt versus equity financing within all of its subsidiaries. Thus, its overall capital structure is essentially a combination of all of its subsidiaries capital structures. MNCs recognize the tradeoff between using debt and using equity for financing their operations. The advantages of using debt as opposed to equity vary with corporate characteristics specific to each MNC and specific to the countries where the MNC has established subsidiaries. Madera and Fox (2007) indicate some common firm-specific characteristics that affect the Macs capital structure such as stability of Macs cash flows, Macs credit risk, Macs access to retained earnings, Macs guarantees on debt and Macs agency problems. They also point the unique host country characteristics can influence the MNCs choice of debt versus equity financing and therefore influence the MNCs capital structure. These characteristics include stock restrictions in host countries, interest rates in hose countries, strength of host country currencies, country risk in host countries and tax laws in host countries. 2.3 Risk analysis 2.3.1 Country risks With operations under the jurisdiction of a foreign government the firm is also exposed to political risk, therefore it must estimate the potential costs it will face due to unstable governments, regime change and changes in policies. Political risk may be defined as a particular exposure to risk which depends on the actions of a government, and its assessment or analysis for a MNC is a decision-making tool for investing in foreign countries. An MNC must assess country risk not only in countries where it currently does business but also in those where it expects to export or establish subsidiaries. Many country risk characteristics related to the political environment can influence an MNC. Madura and Fox (2007) indicate that an extreme form of political risk is the possibility that the host country will take over a subsidiary. In some cases of expropriation, some compensation is awarded, and the amount is decided by the hose country government. In other cases, the assets are confiscated and no compensation is provided. Expropriation can take place peacefully or by force. They also explore other common forms of country related risks include attitude of consumers in the host country, actions of host government, blockage of fund transfers, currency inconvertibility, war, bureaucracy and corruption. Over recent decades, there has been a significant increase in political risk for MNCs. This is true not only for an MNCs operations in developing countries, but also for those in developed countries. Governments have felt the need to respond to various pressure groups aimed at curbing the power of MNCs. For example, oil companies may face unfavourable legislation designed to pay for the damage to environment. Developing countries may have to respond to populist sentiments or worsening economic circumstances by seeking to renege on contracts signed by previous regimes. Another risk area which has grown in recent years has been the strength of fundamentalist religious groups in a number of eco