Cost of Capital Essay

LEI’s expected net income this year is $34,285.72, its established dividend payout ratio is 30 percents, its federal-plus-state tax rate is 40 percent, and investors expect earnings and dividends to grow at a constant rate of 9 percent in the future. LEI paid a dividend of $3.60 per share last year, and its stock currently sells at a price of $54 per share. LEI can obtain new capital in the following ways: Preferred: New preferred stock with a dividend of $11 can be sold to the public at a price of $95 per share. Debt: Debt can be sold at an interest rate of 12 percent. a. Determine the cost of each capital structure component. b. Calculate the WACC. c. LEI has the following investment opportunities that are typical average-risk projects for the firm: Project Cost at t = 0 Which projects should LEI accept? Why? [2(382)] 2. The Heuser Company’s currently outstanding 10 percent coupon bonds have a yield to maturity of 12 percent. Heuser believes it could issue at par new bonds that would provide a similar yield to maturity. If its marginal tax rate is 35 percent, what is Heuser’s aftert-tax cost of debt? [2(383)] 3. Trivoli Industries plans to issue some $100 par preferred stock with an 11 percent dividend. The stock is selling on the market for $97.00, but Trivoli must pay flotation costs of 5 percent of the market price, so the net price that firm will receive is $92.15 per share. What is Trivoli’s cost of preferred stock with flotation considered? [2(383)] 4. Zwing-Zook Enterprises has a beta of 1.45. The risk-free rate is 6 percent and the expected return on the market portfolio is 10 percent. The company presently pays a dividend of $2 a share and investors expect it to experience a growth in dividends of 7 percent per annum for many years to come. a. What is the stock’s required rate of return according to CAPM? b. What is the stock’s present market price per share, assuming this required return? [1(77)]

Master of Business Administration Essay

Pricing policy refers to the policy of setting the price of the product or products and services by the management after taking into account of various internal and external factors, forces and its own business objectives. Pricing Policy basically depends on price theory that is the corner stone of economic theory. Pricing is considered as one of the basic and central problems of economic theory in a modern economy. Fixing prices are the most important aspect of managerial decision making because market price charged by the company affects the present and future production plans, pattern of distribution, nature of marketing etc. Generally speaking, in economic theory, we take into account of only two parties, i. e. , buyers and sellers while fixing the prices. However, in practice many parties are associated with pricing of a product. They are rival competitors, potential rivals, middlemen, wholesalers, retailers, commission agents and above all the Govt. Hence, we should give due consideration to the influence exerted by these parties in the process of price determination. Broadly speaking, the various factors and forces that affect the price are divided into two categories. They are as follows: I External Factors (Outside factors) 1. Demand, supply and their determinants. 2. Elasticity of demand and supply. 3. Degree of competition in the market. 4. Size of the market. 5. Good will, name, fame and reputation of a firm in the market. 6. Trends in the market. 7. Purchasing power of the buyers. 8. Bargaining power of customers 9. Buyers behavior in respect of particular product II. Internal Factors (Inside Factors) 1. Objectives of the firm. 2. Production Costs. 3. Quality of the product and its characteristics. 4. Scale of production. 5. Efficient management of resources. 6. Policy towards percentage of profits and dividend distribution. 7. Advertising and sales promotion policies. 8. Wage policy and sales turn over policy etc. 9. The stages of the product on the product life cycle. 10. Use pattern of the product. Objectives of the Price Policy: A firm has multiple objectives today. In spite of several objectives, the ultimate aim of every business concern is to maximize its profits. This is possible when the returns exceed costs. In this context, setting an ideal price for a product assumes greater importance. Pricing objectives has to be established by top management to ensure not only that the company’s profitability is adequate but also that pricing is complementary to the total strategy of the organization. While formulating the pricing policy, a firm has to consider various economic, social, political and other factors. The Following objectives are to be considered while fixing the prices of the product. 1. Profit maximization in the short term The primary objective of the firm is to maximize its profits. Pricing policy as an instrument to achieve this objective should be formulated in such a way as to maximize the sales revenue and profit. Maximum profit refers to the highest possible of profit. In the short run, a firm not only should be able to recover its total costs, but also should get excess revenue over costs. This will build the morale of the firm and instill the spirit of confidence in its operations. 2. Profit optimization in the long run The traditional profit maximization hypothesis may not prove beneficial in the long run. With the sole motive of profit making a firm may resort to several kinds of unethical practices like charging exorbitant prices, follow Monopoly Trade Practices (MTP), Restrictive Trade Practices (RTP) and Unfair Trade Practices (UTP) etc. This may lead to opposition from the people. In order to over- come these evils, a firm instead of profit maximization, and aims at profit optimization. Optimum profit refers to the most ideal or desirable level of profit. Hence, earning the most reasonable or optimum profit has become a part and parcel of a sound pricing policy of a firm in recent years. 3. Price Stabilization Price stabilization over a period of time is another objective. The prices as far as possible should not fluctuate too often. Price instability creates uncertain atmosphere in business circles. Sales plan becomes difficult under such circumstances. Hence, price stability is one of the pre requisite conditions for steady and persistent growth of a firm. A stable price policy only can win the confidence of customers and may add to the good will of the concern. It builds up the reputation and image of the firm. 4. Facing competitive situation One of the objectives of the pricing policy is to face the competitive situations in the market. In many cases, this policy has been merely influenced by the market share psychology. Wherever companies are aware of specific competitive products, they try to match the prices of their products with those of their rivals to expand the volume of their business. Most of the firms are not merely interested in meeting competition but are keen to prevent it. Hence, a firm is always busy with its counter business strategy. 5. Maintenance of market share Market share refers to the share of a firm’s sales of a particular product in the total sales of all firms in the market. The economic strength and success of a firm is measured in terms of its market share. In a competitive world, each firm makes a successful attempt to expand its market share. If it is impossible, it has to maintain its existing market share. Any decline in market share is a symptom of the poor performance of a firm. Hence, the pricing policy has to assist a firm to maintain its market share at any cost. Ques2. Explain the important features of long run AC curve. Ans: Long run AC curves Long run is defined as a period of time where adjustments to changed conditions are complete. It is actually a period during which the quantities of all factors, variable as well as fixed factors can be adjusted. Hence, there are no fixed costs in the long run. In the short run, a firm has to carry on its production within the existing plant capacity, but in the long run it is not tied up to a particular plant capacity. If demand for the product increases, it can expand output by enlarging its plant capacity. It can construct new buildings or hire them, install new machines, employ administrative and other permanent staff. It can make use of the existing as well as new staff in the most efficient way and there is lot of scope for making indivisible factors to become divisible factors. On the other hand, if demand for the product declines, a firm can cut down its production permanently. The size of the plant can also be reduced and other expenditure can be minimized. Hence, production cost comes down to a greater extent in the long run. As all costs are variable in the long run, the total of these costs is total cost of production. Hence, the distinction between fixed and variables costs in the total cost of production will disappear in the long run. In the long run only the average total cost is important and considered in taking long term output decisions. Important features of long run AC curve 1. Tangent curve Different SAC curves represent different operational capacities of different plants in the short run. LAC curve is locus of all these points of tangency. The SAC curve can never cut a LAC curve though they are tangential to each other. This implies that for any given level of output, no SAC curve can ever be below the LAC curve. Hence, SAC cannot be lower than the LAC in the ling run. Thus, LAC curve is tangential to various SAC curves. 2. Envelope curve It is known as Envelope curve because it envelopes a group of SAC curves appropriate to different levels of output. 3. Flatter Unshaped or dish-shaped curve. The LAC curve is also U shaped or dish shaped cost curve. But It is less pronounced and much flatter in nature. LAC gradually falls and rises due to economies and diseconomies of scale. 4. Planning curve. The LAC cure is described as the Planning Curve of the firm because it represents the least cost of producing each possible level of output. This helps in producing optimum level of output at the minimum LAC. This is possible when the entrepreneur is selecting the optimum scale plant. Optimum scale plant is that size where the minimum point of SAC is tangent to the minimum point of LAC. . Minimum point of LAC curve should be always lower than the minimum point of SAC curve. This is because LAC can never be higher than SAC or SAC can never be lower than LAC. The LAC curve will touch the optimum plant SAC curve at its minimum point. A rational entrepreneur would select the optimum scale plant. Optimum scale plant is that size at which SAC is tangent to LAC, such that both the curves h ave the minimum point of tangency. In the diagram, OM2 is regarded as the optimum scale of output, as it has the least per unit cost. At OM2 output LAC = SAC.

Problems facing india Essay

THE rupee’s tumble continues to grip India. On August 29th Duvvuri Subbarao, the departing boss of the central bank, told an audience in Mumbai of the widespread â€Å"dismay about the ferocity of the depreciation†. Today, on August 30th, I spoke to the boss of a big hotel in the city who says he is preparing to dollarise his business. The rupee is too flaky to operate in, he said. â€Å"It’s just like Russia and Indonesia in the 1990s.† Shortly after this, Manmohan Singh, the prime minister, addressed parliament on the matter. While part of the currency slump is a â€Å"natural† correction to reflect high inflation, he said, â€Å"foreign exchange markets have a notorious history of overshooting. Unfortunately this is what is happening†. That statement looks correct on a three-day time horizon. The rupee almost breached 69 per dollar earlier this week. On August 30th it bounced back to 65.7, making it the best-performing big currency worldwide that day, though still leaving it down 16% year-to-date. The vote by Britain’s parliament against military action in Syria has helped push down oil prices. That is helpful for India, a big energy importer. And some of the Reserve Bank of India’s tweaks have calmed nerves. On August 28th the central bank said it would provide dollars directly to India’s big oil-importing firms. That will stop them having to sell rupees in the spot market. It is an indirect way for the RBI to use its reserves to support the exchange rate. Whether India’s currency has stabilised is another matter. There is plenty to worry about. The prospect of the Federal Reserve ending its purchases of bonds draws ever closer, especially with good news from the American economy this week. That means the â€Å"Great Exit† of money from emerging markets may continue. Both Indonesia and Brazil raised interest rates this week to protect their currencies, making India relatively less attractive. A foreign  investor in town told me at he would not invest in India until it raised its rates. He had arrived in India expecting to allocate more funds to it now prices have fallen, but after several days he felt more pessimistic and reckoned that the slump had further to go. As if to confirm that view, GDP figures were released on August 30th for the quarter to June. Growth slowed to 4.4%, from 4.8% in the preceding quarter. Manufacturing contracted. These figures do not yet reflect the credit crunch that has taken place over the last two months, so it seems likely that GDP growth will slow even further. A good monsoon may boost farming, but the formal, industrial bit of the economy is in dire condition. On August 27th Palaniappan Chidambaram, the finance minister, said that the government had fast-tracked $27 billion of power and other projects stuck in red tape. But I have yet to find a full account of these proposals. In the past such announcements have contained far more hype than substance, as we explained in an article in June. That credit crunch is still pronounced, even if the rupee has recovered a little. Most measures of stress in the financial system are still flashing red, reflecting Indian banks’ bad debt problem. Credit default swaps on State Bank of India, which measure its risk, have soared. Short-term market interest rates have not come down. The government has yet to show much desire to clean up banks’ dud loans and is instead putting more pressure on them to â€Å"extend and pretend†. Even as mayhem stalks the currency market, the election campaign is ramping up. India’s legislators may be lousy at making decisions about economic reform, but they are remarkably decisive at passing more populist measures. Early this week a new programme to increase food subsidies was agreed. Moody’s, a credit rating agency, warned that this will put more pressure on the public finances. Then the lower house of parliament approved a new law on land reform. It replaces a decrepit act that is over a century old. But businesses say the new rules will make it even harder to buy land to set up factories, with long delays becoming the norm. If the rupee still looks vulnerable, India has three options, none very palatable. One is to let the currency fall further. In most countries a cheaper currency would boost exports and help close the current-account deficit. But India’s manufacturing industry is too small and too bound in red tape to ramp up quickly. So a turn-around in the balance of payments may take time during which investors could panic. Meanwhile the weaker currency may  destabilise the domestic economy by adding to inflation and increasing the government’s subsidies on fuel and thus its borrowing. The second option is to do the opposite and increase interest rates to attract more foreign money in, following the path of Indonesia and Brazil. But this would further hammer Indian industry, which is already in poor shape, and probably increase bad debts at banks too. If the economy slowed further as a result, equity investors might begin to worry about corporate earnings declining and pull out their roughly $200 billion of investments in listed shares. Inducing a credit crunch in India might make things even worse. The last option is to lower government borrowing. It is running at 7% of GDP (including India’s states) and has stoked excess demand in the last few years, widening the current-account deficit. The populist political mood doesn’t make big spending cuts easy, though, and while it is often accused of epic profligacy, India’s central government has pretty low expenditure relative to GDP—about 15%. There is simply no way it can cut its way to a balanced budget. What India really needs is more tax revenues. But with a narrow tax base—only 3% of Indians pay income tax—this might mean concentrating tax rises on the formal economy, which is already reeling. For now my sense is that the authorities’ plan is to let the rupee trade freely but hold out the threat of an interest rate rise or direct intervention in the currency market to try to scare off speculators. At the same time they will squeeze borrowing as much as is possible during an election and use administrative measures, such as highe r duties, to try to cap imports. It is a bet that the economy will pick up soon and that growth will make India’s problems fade away. The trouble is that the economy is still decelerating.

COMPARATIVE LEGAL SYSTEMS( Coursework) Essay Example | Topics and Well Written Essays - 2500 words

COMPARATIVE LEGAL SYSTEMS( Coursework) - Essay Example By adopting the French and Italian model, Guatemala has successfully designed its judicial system. The judicial reform has brought about segmentation as because often the civil laws in Guatemala have different interpretations. The fact that, the laws are based on different legal philosophies, account for this problem. On the whole, adoption of new reform has proved to be effective for controlling administration of the State. Adoption of French civil law: Guatemala. The French were the first to adopt new regulations about sodomy. Under the new regulations, criminal charges that were till then associated with sodomy were removed. This initiative was first of its kind in Western Europe, during the eighteenth century. This legal measure was later on adopted by numerous nations like Netherlands, Guatemala, Mexico, Luxemburg, Japan, Switzerland, Greece, Thailand, etc. Laws pertaining to sodomy were adopted by Guatemala in 1871, as a measure to acknowledge natural sexual orientation in huma n beings. Thus, the French legal norms adopted by Guatemala decriminalize sexual acts- both heterogeneous and homogenous. It was a measure taken by Guatemalan government to decrease serious physical assaults. For quite some time, Guatemala has been troubled by increasing rate of hate crimes. Gays, lesbians, and transsexuals are the usual victims of hate crimes. Often the crimes committed are too violent in nature. Due to all these, it was necessary for Guatemala to adopt a specific code of law for this issue. The French civil laws were most appropriate for this issue. After adopting the French civil lows, Guatemalan government has ensured that its citizens do not face any discrimination based on their sexuality2. The French civil laws were adopted by Guatemala with an objective to simply issues regarding oral case, role of judges, responsibilities and liberty of prosecutors, and also about investigation and evidentiary arguments. Introduction of French civil laws has helped to contr ol crimes, for Guatemala has been experiencing crimes due high poverty and social inequalities. Slow economic progress is yet another reason for Guatemala having such a high crime rate. Moreover, the French civil laws have helped in controlling crime scenario. At the same time, it has also simplified Guatemala’s private laws. Also, the French laws have shaped by Guatemala’s commercial scenario. Thus, it could be said that France had numerous implications in Guatemala’s penal structure3. Difference between application of French civil law in France and Guatemala The civil laws were adopted by Guatemala differ in application in France and Guatemala. According to the French civil law, crimes of individual were viewed keeping in mind the relationship shared by the individual charged with criminal offences and his or her society. Due to this, French governments insists more on investigation procedure, thus making the while legal procedure a lengthy one. Also, French c ivil laws consider and accept every single provision, through which the accused could defend itself. The laws also hold any individual guilty only after his guilt is proven in the court of law. The French civil laws also support abolition of torture. This implies that the neither the accused nor the criminals could be subjected to cruelty and barbarism under any situation4 In France, the prisoners are even allowed to vote. Also they are not made to work or they have to attend any educational

Managing Financial Resources and Decisions Assignment - 1

Managing Financial Resources and Decisions - Assignment Example The paper will be divided into 4 sections. Section 1 will be focused on assessing the tangible cost and the opportunity costs incurred by Tesco when raising share capital through shares, bonds and proposed dividends, with hypothetical illustrations. Section 2 will aim at explaining the role and significance of financial planning in Tesco, while section 3 will remain focused on identifying the needs that investors of Tesco might essentially seek in respect to the fund raising activities of the company. Taking note on the changes expected in the PE (Profit-Earning) ratio, EPS (Earning per Share) ratio and ROCE (Return on Capital Employed) owing to its fund raising activities, section 4 will be constructed. Section 1 In correspondence to the three optional measures that Tesco can consider to raise its capitals, it was observed that the tangible cost will be as follows. Correspondingly, the opportunity costs associated with these options will be, As can be observed from the above analysi s, it is likely and suggestible that Tesco decides for option 1a, having least opportunity cost of ?5,500,000, considering its next best alternative to be option 1b. Section 2 Financial planning assists large companies in finding out the best possible ways to generate the cash flow and to make the capital investments effective by incurring limited degree of risks. Large companies often face issues in dealing with complexity issues when deciding for capital gains owing to the varied range of sources available, ranging from shares, bonds and other financial instruments. Financial planning thus helps a large sized company like Tesco in identifying the best investment opportunities, keeping in account the investors’ interests. Financial planning also assists with the effective forecasting of the implications that the funding strategies may impose on the investors’ decision, considering the results from ratio analysis and other similar mechanisms (Greenwood, 2002). Section 3 The range of information to be required by the financial decision makers in Tesco may include details of the market investment trends, competitor’s influence on the demand of its products, market structure, regulatory norms applied to funding sources and changes in the market pricing trends concerning the fact that Tesco deals with consumer goods, which are highly influenced by market volatilities (Chartered Institute of Management Accountants, n.d). Section 4 Considering options 1a and 1b, as the most suitable options for Tesco, it can be observed that option 1a will be more beneficial as it is capable of yielding a higher P/E ratio, indicating that investors shall pay more for every dollar in comparison to option 1b. While the EPS ratio remains the same in both the instances, the ROCE reveals a contrasting situation where capital employed in option 1b is likely to have a higher return as compared to option 1a. This reveals that Tesco shall be able to obtain better efficie ncy in its capital allocation following option 1b. Source: (Tesco PLC, 2013) Conclusion From the above analyses that fund raising strategies used by Tesco is quite likely to impose strong effects on its financial statements and thereafter determine the decisions of its investors either favorably or unfavorably. A proper financial planning and effective decision making thus play a major role in the effectiveness of the business. References Chartered Institut

Physical Education Assignment Example | Topics and Well Written Essays - 2250 words

Physical Education - Assignment Example Time allocation is an issue that is generally complicated by localized control of curricula and practices of offering subject options or electives, which provide less opportunities and interest for additional engagement in physical education and/or school sport activity (Hardman, 2009). There are various survey findings which reveal variations in expected time allocated to physical education. Curriculum time allocated to other subjects deteriorates the situation where recent educational reforms have resulted in physical education teaching time reductions as observed in Taiwan (Hardman, 2009). †¢ Taiwan-Integrating PE with health education has led to the reduction in the teaching time of physical activities and the time allocated to PE is again affected by an increase in the teaching time of English and other subjects e.g. Mathematics, computer and dialects which are assigned more weight into the curriculum (Hardman, 2009). Physical education is also faced with the consequences o f the global financial and economic crisis. This is evidenced by the words of Gov. Arnold Schwarzenegger who proposed trimming state money for physical education classes leaving athletic programs at the two-year schools in doubt (Krupnick, 2009). Another contentious issue is the actual status of physical education and its teachers. Data indicate that equal subject legal status is claimed in 69% of countries. Africa, where only 15% of countries indicate equal legal status of subjects, represents a marked contrast with Europe’s 88%. This is an indication that across all regions except Europe, in practice physical education is considered to have lower status than other subjects (Hardman, 2009). Other... The research highlights physical education influences and reflects the values of society, and the kind of society we desire to have. It is vital, therefore, to accept and recognize a set of common values and purposes in the school curriculum that is broad and balanced. This leads to a holistic development which has various orientations including individual, cultural and social orientations. As the papaper stresses pervasive factors contributing to varied notions on physical education in schools are depicted in the development of curriculum, the time allocation and priority assigned to other subjects. Inadequate resources, deficiencies in numbers of qualified physical education and poor attitudes of significant individuals such as head teachers, also contribute to the diverse perceptions. Time allocation is an issue that is generally complicated by localized control of curricula and practices of offering subject options or electives, which provide less opportunities and interest for additional engagement in physical education and/or school sport activity. Physical education is faced with the consequences of the global financial and economic crisis. This is evidenced by the words of Gov. Arnold Schwarzenegger who proposed trimming state money for physical education classes leaving athletic programs at the two-year schools in doubt. The attitude of secondary school teacher s towards physical education depends on their experience in the field.

BRIC Emerging Markets Essay Example | Topics and Well Written Essays - 3250 words

BRIC Emerging Markets - Essay Example In line with this, Lopez-Claros (2005) explains that the competitiveness of each nation to compete in the world market is not limited to their ability to maintan exchange rate competitiveness but also the importance of improving their productivitity in order to increase the businesses' return on investment and also improve the aggregate growth among the four countries' economy. As part of increasing the BRICs competitiveness against other countries around the world, enhancing one's knowledge on economic development could empower each nation to positively act upon the challenges associated with the challenges related to FDI and trade, political stability and sustainability in each nation (Lopez-Claros, 2005; Henisz, 2000; Olson, 1996; Bhagwati, 1989). Globalization strongly promotes the practice of free trading around the world. In line with this, balancing the volume of local and foreign trade activities is crucial in terms of maintaining a strong economic growth because allowing the import level of foreign goods to exceed the export level within a country is harmful in terms of the country's economic development (Bhagwati, 1989). Given that a country becomes very dependent on the importation of goods and services, it is likely that the country would experience slow growth and unemployment problem because of the significant decline in the demand for locally manufactured and provided goods and services (Bhagwati, 1989). A great imbalance between the import and export is enough to cause the sudden decrease in the countries' gross domestic product (GDP). (Campos & Coricelli, 2002; Boix, 1999) Political Stability The socio-political stability of Brazil, Russia, India, and China could significantly affect the economic development of each nation (Henisz, 2000) In line with this, several past research studies revealed that the governemnt's ability not to interfere with the private property rights of the businessmen is necessary in terms of maintaining the long-term capital investments necessary to enable the BRICs to experience a rapid economic growth (Henisz, 2000; Olson, 1996). Equally important for the continuous economic growth of BRICs, the government in each nation should develop and implement effective stabilization programs related to taxation, business regulation, and other relevant economic policies that could promote the increase in private investment (Henisz, 2000) aside from intervening on global trade activities like imposing import restrictions and providing export subsidies among others (Bhagwati, 1989). Whenever a new foreign business would enter the country, the government shuld impose a strict entry regulation in order to prevent the incidence of fly-by-night business operators (Djankov et al., 2002). With regards to tax policy, collected tax revenue should be invested in economic activities including the development of infrastructure, improvement in educational services, and investment on new technology in order to create new job opportunity and demand for the local products and services (Lopez-Claros, 2005). All these can be easily achieve

Business Management Systems Essay Example | Topics and Well Written Essays - 2000 words - 1

Business Management Systems - Essay Example The daily delivery of goods from the factory to the retailer or wholesaler is a project in itself, with its unique CBA (Cost Benefit Analysis) and risks. Therefore we can safely assume that the entire systems of a corporation perform as collage of small projects and if each project is not executed with perfection, the corporation will face difficulties. This bad project management results in bad financial performance and thus shareholders divest, moving to better investment options. The above argument is just a glimpse of the importance of project management. Whenever a project is undertaken a complete analysis of activities is therefore very important. There are a number of things which are very important when analyzing projects. A few significant ones are as follow: Deadlines are very important when it comes to analyzing the time it takes to complete a project. The best method to ensure that there are no problems when it comes to meeting deadlines is to divide the entire time into smaller segments. These smaller segments must then be allocated to each single activity. This gives a twofold advantage. First of all the project remains on schedule, secondly no activity is missed and times are allocated according to significance. The project manager has a better understanding of removing or adding activities according to time constraints or unforeseen developments. Most projects are oriented at generating revenues, except the nonprofit ones. The main aim of each manager engaged in a project is to find ways to reduce project cost. The reduction in cost however should not compromise on quality. The total project cost consists of many different categories. Many costs are negotiable and controllable, others however are not negotiable. The effects of inflation must also be taken into account when estimating project cost. This is another factor which emphasizes again on projects being on time. The project

International Marketing in Construction Industry Essay

International Marketing in Construction Industry - Essay Example ...) are aware of possible future challenges in this sector, and have started, or are preparing, to address them. The competition in this industry is high because these countries have a high demand for construction services, as they deem it to be necessary for their overall economic growth. In the past years, both the demand and the supply curves for this industry have witnessed a rightward shift, but as can be seen from the diagram below, the increase in demand has been more than the increase in supply, leading to a higher equilibrium price, and making this industry a highly profitable one for suppliers. Due to this very reason, there has been a lot of capital inflow and investment in the region, with more firms entering the market and a higher degree of competition in the industry. Deciding exactly which place to go will depend on the country's economy, the firm's goals, competition in that particular country, the market for labour force, etc. Also, policies by Governments and other statutory bodies regarding restriction on entry of foreign firms in the country will play a role. In the following topics, we shall discuss what factors will help the firm gain access to the market, and how the firm can tailor its own assets so as to make sure it best suits the region's industry. If we happen to see a bird's eye view of the constru... There is a huge variety in different states concerning the degree of development in this sector. For example, although public construction has remained weak in Vietnam, there has been a strong expansion in private construction that began in late-2001, and still continues1. In fact, this momentum was enough to pull overall growth in the industrial sector up to 9.0 per cent in 2003. Data shows that construction activities recovered strongly in Brunei from a contraction of 2.4 per cent in 2001 to expand 7.5 per cent in the following year but a real estate glut in the capital added to the sector's difficulties in 20032. The construction industry in Singapore has an annual gross output of about $10 billion, with a capacity of about $12 billion (Ofori, Foreign construction workers in Singapore). If we bring this to the forefront, then investing in Singapore's construction industry definitely seems to be a beneficial option for the firm. The industry contributes around 7 per cent of gross d omestic product (GDP) of the country and accounts for about 6.5 per cent of total employment. A very important thing to note is that since the mid-1980s, construction enterprises from Singapore have won a sizeable volume of projects in countries within the region. So, investors in Singapore are able to access markets throughout the region, without actually investing permanently in them. Regarding the area of Foreign Direct Investments in the region, South, East and South-East Asia have continued to be the main magnet for capital inflows into developing countries. In 2005, South-East Asia sub-region received $37 billion (Auansakul, An Excerpt from an Overview of World Investment Report 2006), led by Singapore, Indonesia, Malaysia and Thailand. Policies like allowing single-brand

Philosophy questions Essay Example | Topics and Well Written Essays - 250 words

Philosophy questions - Essay Example The other key responsibility of a CFO is to come out with such financial statements that accurately and in a transparent way reflect on the financial health of the firm (Korey 72). Though, the drafting of the financial reports happens to be the responsibility of all the executives, it is the CFO who has the eventual determining influence on such financial reports. So, while drafting such financial reports, I will always try not to be influenced by any other concern and be above board and professional in the discharge of my duties. One serious responsibility that I will be required to perform will be to honestly and accurately detail the board, if I feel that the CEO tends to differ with me regarding any reporting protocol, and one’s views are misplaced and faulty. No doubt, the board and the investors will look up to me for facts, and not basing my reporting on facts will amount to being unethical on my

A Detailed Insight into Indonesia Essay Example | Topics and Well Written Essays - 3000 words

A Detailed Insight into Indonesia - Essay Example The largest and the most famous amongst these are Java, Sumatra, Kalimantan, New Guinea, and Sulawesi. It shares borders with Malaysia, Papua New Guinea, East Timor, Singapore, Philippines and Australia. Since this country is located right near the Australian, Pacific and Eurasian tectonic plates, it is an earthquake prone country and also sees a high level of volcanic activity. Indonesia is a hot and humid tropical country and experiences a lot of rain. Since its location is on the seacoast, Indonesia has long been an important trade center, right from the seventh century with strong trade relations with China and India. As a result, it adopted many Indian and Chinese cultural and religious practices and had many Hindu and Buddhist dynasties that ruled here. Its rich natural resources have also attracted many other foreign traders, who also added their cultural influences. The Muslim traders brought in the religion of Islam, while European powers that have also left a cultural impac t, fought over the right of the Spice Trade in the island of Maluku. The different ethnic and various religious societies that inhabit the various islands of Indonesia are different from each other and they reflect the natural diversity of this colorful country. Although the islands that form this archipelago are all connected to each other through trade, wars, politics and the formation of the republic of Indonesia, they have managed to stay apart, culturally.

Global Warming Essay Example for Free

Global Warming Essay Introduction Usually when people think of global warming they think of hotter weather. This is not necessarily correct. Global warming is not something that happens over one season but happens gradually overtime. The term global warming is a bit deceptive because it leads people to believe the temperatures will get hotter, this is not the case. Climate change impacts the hydrology and biology of our planet. This can cause stormier, dryer and even in some cases, colder weather. (Maria Trimarchi, 2014) Cultural Relativism When we think of global warming we typically just think about how the climate change is affecting our society. We do not stop and think how the changes affect other under-developed cultures. The article discusses how many under privileged countries die a lot sooner because of climate change. Something that developed countries would not see as quickly. (Sarah DeWeerdt, 2013) Understanding that the carbons and methane we use here in the United States not only affects our air quality and climate control but can have effects in Africa and other countries. The article discusses how the changes in weather from really dry heat to instant down pours of rain affects the agriculture. (Sarah DeWeerdt, 2013) This not only means the region experiencing this change is burdened by the increase and decrease in the climate, but countries doing import and export exchange is also affected. Ethiopia already experiences social and economical problems; climate change will make this country suffer even greater problems. National Geographic states the country already loses thousands of people a year due to effects from the climate. If global warming continues the effects would be catastrophic. (Alan Corbis, 2007) Mechanical Social Solidarity The term social solidarity refers to how a society unifies as a whole in aspects like interests, standards, objectives and sympathies. (Book Reference) Society can take a mechanical or organic approach to this philosophy. A mechanical solidarity society shows high emphasis on religion, society’s interest and has relatively low population rates. An example of this population group would be small tribes in Africa, Ethiopia and South America. Organic Solidarity is the complete opposite. They focus more on secular religion, material possessions, and high population and are human-oriented. The biggest example is America but you could also list China and Japan under this category. (Webster’s Dictionary) The article discusses how global warming is caused by omissions of carbon and methane into the atmosphere. (Sarah DeWeerdt, 2013) Our bigger organic solidarity societies are causing the global warming problems for the mechanical societies. It is unfortunate that we are not only ruining the environment for ourselves but we are also ruining it for innocent bystanders. Ethiopia being one of the poorest countries is being the most hurt by our materialist greed. They do not have the resources to even try and make a difference. Conflict Theory Conflict theories put emphasis on social, political, or material inequalities of a social group. Conflict theories draw attention to power differentials, such as class conflict and generally contrast historical ideologies. (Book reference) Understanding conflict theory is important to see how developed countries are hurting and hindering the development of under-developed countries. Until we draw a full understanding of this, a resolution cannot occur. The article discusses the differences and challenges under-developed countries face compared to developed countries. The risk of disease like Malaria is higher because of contamination and the inability to vaccinate. The United States faces mosquito problems but we do not have the issues of contaminated water. Plus our country also has vaccines to protect our  population unlike most parts of Africa and other countries. (Sarah DeWeerdt, 2013) The article discusses the dry temperatures will cause an increase in mosquitoes and the risk of contracting a disease from insects will increase. Vaccines are a concern but also the inability to control the insect contamination. Major countries have preventatives to control the reproduction of insects. Smaller countries do not have the means to control this growing problem. (Sarah DeWeerdt, 2013) If global warming continues to increase, so will the dangers all from all the effects. Conclusion Our planet as a whole must come up with a solution that protects everyone from the effects of global warming. The countries that pose a risk of losing the most are the ones that do not have the resources to contribute much to the solution. These are also the countries that do not contribute to the problem. Generating lower carbon and methane technology is a must. We need our government and other high power governments to increase federal funding to programs that help in promoting this technology. REFERENCES Corbis, A. (2007). Global Warming Effects. National Geographic. Retrieved on April 24, 2014 from http://www.environment.nationalgeographic.com/global-warming/gw-effects DeWeerdt, S. (2013). Climate Change, Coming Home: Global warming Effects on Population. World Watch. Retrieved from http://www.worldwatch.org/global-warming Trimarchi, M. (2014). Top 10 Worst Effects of Global Warming. Discovery. Retrieved on April 24, 2014 from www.discovery.com/topics/worst_effects_global_warming

Chemical Safety In Schools Environmental Sciences Essay

Chemical Safety In Schools Environmental Sciences Essay Chemistry plays an important role in human civilization. It enables us to formulate substances important for disease treatment, fertilize plants and provide fuel for transportation ( ). For many years, chemistry has been considered the central science due to its significant connections and overlap with other sciences. If a scientific discipline involves matter, chances are that chemistry plays an important role. Therefore, we will always need people who have a good knowledge of chemistry. As expressed by Beach and Stone (1988) chemistry education without laboratory is like painting without colors and canvas or learning how to ride a bike by reading its operating manual (Tezcan and Bilgin, 2004). The study of chemistry in schools equips students with knowledge in the classroom and skills of conducting experiments in laboratories during practical sessions that are scheduled once a week for a period of two to three hours (MOH, 2001). 2.1.2 Hazards Chemical in the School Experiments The teaching of chemistry at secondary school includes the use of hazardous chemical, which is essential for the understanding of chemistry fundamentals. Example of hazardous chemicals that are available at school chemistry laboratory are hydrochloric acid, sulfuric acid, acetic acid, natrium hydroxide, hydrogen sulfate, ammonium sulfate, hydrogen peroxide, ethanol, propanol and acetone (MOH, 2000). These chemicals are classified as hazardous chemicals to health under the Malaysia Occupational Safety and Health (Use and Standards of Exposure of Chemical Hazardous to Health) Regulations 2000. In view of their hazardous characteristics, the government through the Department of Occupational Safety and Health regulates labelling and packaging of these chemicals. A specific law pertaining to these hazardous chemicals, the Occupational Safety and Health (Classification, Packaging Labelling of Hazardous Chemicals) Regulations 1997 (MDC, 2005), was established under the Occupational Safety and Health Act 1994 (Act 514) later revised based on the Global Harmonized System of Classification and Labelling of Chemicals to enforce the regulation. The chemicals are classified as hazardous based on their physicochemical characteristics and toxicity to human. Oxidizing and flammable chemicals have the potential to cause fire while corrosive and toxic chemicals have the potential to cause external and internal body injuries. For example, volatile organic compound such as acetone, ethanol and formaldehyde have been suggested to cause a nervous system disorder experienced by workers known as solvent syndrome, due to prolonged exposure to organic solvents (Dalton et al., 1997; John Gary, 2001; Kiesswetter et al., 1994; Medinsky et al., 1995). Malaysian Occupational Safety Health (Act 514) and Occupational Safety Health Regulation 2000 (Use and Standard of Exposure to Chemicals Hazardous to Health) specify the permissible exposure level (PEL). The PEL is the maximum time-weighte d average concentration of hazardous chemicals in the air of working area that workers can be exposed without the need to wear personal protective equipment and the PEL for acetone, ethanol and formaldehyde are 1187.0, 1880.0 and 0.4 mg/m3, respectively (MDC, 2005). 2.1.3 Safety Precautions In view of the physical and health hazards of the chemicals, there is requires the implementation of safety precaution and hazard control to reduce the risk of exposure to the chemical hazards. Safety precaution differs based on the type of the chemical hazards. Safety precautions differ based on the type chemical hazards. General safety precaution is personal hygiene whereby the user as advice: To wash hand Wear lab coat No eating and drinking Wear covered shoes Wear eye protection (goggles) Example of additional safety precautions in 2.1.4 Responsibility of Chemistry Teachers The teacher is a key figure in implementing the teaching of chemical science because, without a teacher, students cannot carry out the science practicum well. These students would have had no scientific competence, no skill in conducting experiments, and they would not be able to make observations and analyze experimental data (Senior High School Chemistry Practice in Pekanbaru Riau, 2012). Schools very much rely on chemistry teachers and laboratory staff (laboratory assistants and technicians) in managing the chemistry laboratory. Their tasks include the inventory, storage, repackaging, preparation of experiment reagent, conducting practical curriculum, cleaning of the apparatus and waste collection. Therefore, they play a big role in the practice and regulation of chemical safety in the school chemistry laboratory. Furthermore, they must also provide information and training to the students at every stage of experiment planning and be there to observe, supervise, instruct, and corr ect during the experimentation (School Chemistry Laboratory Safety Guide, 2006). Teachers and teacher-aides should lead by example they should wear personal protective equipment, follow and enforce safety rules, procedures and practices, as well as demonstrated safe behavior and promote a culture of safety. They should be proactive in every aspect of laboratory safety and make, safety a priority. Figure 1 is a checklist for teachers that highlight essential information for working in a high school laboratory. This is a general safety checklist and should be periodically re-evaluated for updates (School Chemistry Laboratory safety Guide NIOSH, 2006). Upkeep of Laboratory and Equipment Recordkeeping Safety and Emergency Procedures Maintenance of Chemicals 2.1.5 Chemical Hazard Symbols (Pictograms) In referring to the Global Harmonized System regulation, each package of chemical and the respective storage place should be clearly labelled with the relevant hazard symbol (pictogram) to communicate the related hazard, subsequently to reduce risk of chemical exposure of the incident. The hazards pictograms or symbols have been standard would be in hygiene______ and ______ Hazard and risk warning signs (label) of chemicals are something that anyone entering into laboratories should understand and be familiar. They are commonly assigned to each chemical in order to draw the attention of users and to classify chemicals according to their characteristics. The knowledge of potential hazards and risks of chemicals and understanding their labels would help to make correct choices and safe utilization and handling of chemicals. These procedures, ultimately, would help to avoid chemical-related accidents on individuals and the environment. There are different approaches to assign hazard-warning signs (labels) to chemicals in order to communicate to the user for their safe handling in laboratories and design safety measures to avoid preventable hazards on users. These labels (warning sign) consist of different colors and pictures and intended to provide information about properties of chemicals such as flammability, toxicity, explosive, corrosive, oxidizing, ir ritating and harmfulness. Understanding or becoming familiar with the labels of these properties would help to avoid unwanted but preventable hazards of laboratory chemicals. Therefore, for safety reasons, individuals working in chemistry laboratories and in other laboratories that involve the use of chemicals are supposed to be aware of the potential hazards of laboratory chemicals and become familiar with the warning sign of each chemical in use. Chemical storage areas can be the most dangerous places in most facilities. Placing the correct warning signs and labels around chemicals is essential to maintaining workplace safety. Hazard symbols are designed to warn about hazardous materials or locations. The use of hazard symbols is regulated by law and directed by standards organizations. Table 1.2: Physical Hazards Hazard Symbol (Old) Symbol (New) Description Explosive C:UsersSONYDesktopex-l.gif Risk of Explosion by shock, friction, fire or other sources of ignition. Handle substance very carefully Do not smoke Keep away from all sources of ignition Oxidizing http://www.hse.gov.uk/chip/images/ox-l.gif May cause fire due to chemical reaction of Organic peroxides Keep substance tightly lidded when not in use Keep substance separate from other substances Extremely Flammable http://www.hse.gov.uk/chip/images/fire-l.gif Highly Flammable http://www.hse.gov.uk/chip/images/fire-l.gif Risk of fire Has a flashpoint of below 21oC Keep away from all sources of ignition Wear rubber soled shoes when using to avoid sparks from static electricity Do not smoke Keep substance tightly lidded in a suitable metal cabinet when not in use Flammable http://www.hse.gov.uk/chip/images/fire-l.gif Table 1.2: Health Hazards Hazard Symbol (Old) Symbol (New) Description Very Toxic http://www.hse.gov.uk/chip/images/skull-l.gif May cause irreversible health problems or even death if inhaled, ingested or if it enters the skin. Wear suitable toxic mask, gloves, eye face protection DO NOT breathe vapours, dusts or mists Avoid contact with skin eyes Toxic http://www.hse.gov.uk/chip/images/skull-l.gif Harmful http://www.hse.gov.uk/chip/images/x-l.gif Corrosive http://www.hse.gov.uk/chip/images/corro-l.gif Irritant http://www.hse.gov.uk/chip/images/x-l.gif Source: Globally Harmonized System of Classification and Labelling of chemicals, United Nations New York and Geneva, 2005. 2.1.6 Chemical Safety and Data Sheet Chemical Safety Data Sheet (CSDS) also known as (SDS), (MSDS) or (PSDS) is an important component of product stewardship and workplace safety. The CSDS, prepared by a product manufactured or distributed by a supplier, contains more information about the chemical than its label. A CSDS is a document that contains information on the potential health effects of exposure to chemicals, or other potentially dangerous substance, and on safe working procedures when handling a chemical product. It is an essential starting point for the development of a complete health and safety program. The document containing finding of the evaluations on the use, storage, handling and emergency procedures related to a specific chemical. The purpose is to communicate the hazards of the product, safe to use the product, possible consequences if the recommendations are not followed, actions to take if accidents occur, as well as symptoms of overexposure and steps to follow if such incidents occur. In Malaysia, as specified in Classification, Packaging Labelling Regulation 1997, chemical suppliers must supply MSDS as part of the requirement for a sale. The recent USECHH regulation 2000 also requires all chemical industry users to have each chemicals MSDS on hand prior to the usage of the chemical in their workplace. Therefore, an MSDS is a very useful source of safety and health information that will help create a safer practice when dealing with chemicals. The information in the CSDS is divided into sections as below: Product Identification Provide general identification of the chemicals. Example: Synonyms, CAS No., Molecular Weight, Chemical Formula, Product Codes (if applicable) Composition / Information on Ingredient Provide the percentage or concentration of the chemical. Some may provide additional hazard information such as PEL (Permissible Exposure Limit), TLV (Threshold Limit Value) etc. Therefore, the seriousness of the chemicals can be referred. Hazards Identification Provide the degree of hazard with reference to: Health rating Flammability rating Reactivity rating Contact rating Additional information may include the potential health effects and symptom through inhalation, ingestion, dermal contact, eye contact, chronic exposure aggravation of pre-existing conditions (if applicable) First Aid Measures To provide first aid attention prior to the arrival of the physician when accident takes place. The piece of information provided may refer to the chemical accident due to: Inhalation Ingestion Dermal Contact Eye Contact Fire Fighting Measures Provide details on the Flash point, Auto Ignition Temperature, Flammability of the chemical product and Explosion capability information. Additional information may include of the proper methods of using fire extinguishing media (dry chemical, foam, water or carbon dioxide) and type of suitable fire fighting protective clothing used during a fire emergency. Accidental Release Measures Provide some essential guideline to deal with for instance how to deal with chemical spillage, ventilation provision, contain and recover liquid when spilled etc. Handling Storage Provide detail to conduct, handling and storing at a safer way. These may include: How to protect the chemical? How to store the chemicals (environment factors consideration)? Is it compatible with other chemicals when stored together? How to use it at a safer way? Exposure Controls/ Personal Protection Provide details how to control the exposure of employees at the workplace when using such chemical, for example: Ventilation system PPE (Respirator, safety goggle, glove, SCBA, apron etc) for skin, eye and other bodily related protection Physical / Chemical Properties Provide detail of some of properties of chemical, for instance: Appearance (clear, colorless, milky etc) Odor (type of smell of product) Solubility (Water soluble, slight solubility etc) pH Boiling point, melting point (OC or F) Vapor density Vapor pressure Evaporation rate Stability Reactivity Provide some details on: Stability and reactivity of the chemical (e.g. during storage) Type of hazardous decomposition products (e.g. release of certain gases such as CO2 when heated) Compatibilities with other chemicals (for example acrylic acid is incompatible with strong oxidizing agents) Toxicological Information This section may refer to the toxicity of the chemical with reference to the LD 50 and LC 50. The lower the value of the LC the more hazardous will be the chemical Ecological Information Provide some detail on ecological impact of the chemical when it is used or discharged to the air, water or soil. Therefore, the user could take some precautious or probably engineering control when deal with this chemical Disposal Considerations Applied for the chemical that couldnt be recycled, saved or recovered and is considered as hazardous waste. (Must comply with local requirements) Transport Information Provide some detail on the identification during transportation of chemical for both domestic and international purposes Regulatory Information Provide some details of the regulatory information from different relevant countries. Additional item would be the inclusive of Hazchem Code from Australia Other Information Provide certain information on for example, NFPA rating in term of health, flammability and reactivity rating. Label hazard warning. (E.g. DANGER! MAY BE FATAL IF SWALLOWED) Label pre-cautious. (E.g. Do not breathe vapor or mist) Label of first aid. (E.g. Do not induce vomiting, give large plenty of water) Product use (if applicable) An example of the CSDS is describe in Appendix. Interactive Multimedia Courseware An information technology innovation that emerged drastically leads to an improvement of its uses in teaching and learning, hence allowing multimedia software to be a popular teacher and nowadays (Mona Masood Nor Azilah Ngah, 2003). Interactive multimedia roused in 1990 where innovative educators started to think of the implication of new media if being adapted to teaching and learning environment. This technological development leads on changes in every life sector consists of education, economy, social and others (G. Torrisi-Steele, 2005). Definition of multimedia The definitions of Interactive Multimedia described in published articles seem to vary between authors. Below are some of the definitions: Fenrich (1997) described multimedia as the exciting combination of computer hardware and software that allows users to integrate video, animation, audio, graphics, and test resources to develop effective presentations on an affordable desktop computer. Phillips (1997) characterized multimedia by the presence of text, pictures, sound, animation and video, some or all of which organized into a coherent program. Multimedia is a multi-sensory interactive user experience, which is defined as a combination of at least one continuous (i.e. sound and video) and one discrete (i.e. text and images) medium (Neo and Neo, 2004). Interactive Multimedia, as described by the encyclopedia Britannica Online, is defined as any computer-delivered electronic system that allows the user to control, combines, and manipulate different types of media, such as text, sound, video, computer graphics, and animation. Types of Multimedia The challenge of multimedia to humanity is thinking through the variety of multimedia artifacts and asking about the clusters of work that can be aggregated into categories such as Web hypermedia, Computer games, Digital Art and Multimedia Encyclopedia. Web hypermedia refers to a work created to explore the possibilities for hypertext and multimedia in education. Most commercially successful multimedia works are computer games. Games like Myst introduced consumers of all ages to the effective use of images, animations, and environmental sound to create a fictional world characterized by navigation and puzzle solving. Digital art has been using multimedia to create interactive installations that are controlled by computers and use multiple media. These playful works are exhibited in galleries and museums as works of art that bring multimedia into the traditions of art exhibition. A common form of educational and reference multimedia is the multimedia encyclopedia like the Encyclopedia Britannica Online and Microsofts Encarta (on CD-ROM). Components of Multimedia Courseware According to Fenrich (1997), media categories incorporated into an instructional multimedia package are as follows: The text is the most common medium of presenting information. It is also used to communicate a concept or an idea. It should effectively complement the other media. Factors that influence the textual communication are typeface, font and style, kerning, antialiasing, animation, special effects, special characters and hypertext. While dealing with text in a multimedia, it is very important to note that, it is not the only means of communication. In multimedia, text is most often used for titles, headlines, menus, navigation and content. Overcrowding of text on a single page should be avoided. Audio is another vital media in a multimedia presentation. Audio is available in different file formats and choosing the appropriate file format is important to maximize its performance on the multimedia. Sound editors play an important role in converting file formats and enhancing the quality of sound. In most cases, sound files are imported and edited for a multimedia application. Video in multimedia is an extremely useful communication tool for presentations. It illustrates ideas and concepts better than static two-dimensional pictures besides capturing real world events. Video files occupy enormous space and there are two recommendations: Use very short video clips (not exceeding a minute or two) Use highly compressed video files such as MPEG. One could also transform AVI files to MPEG files. Graphics are the most commonly used element of multimedia. The richness of multimedia and effective communication is achieved through graphic presentations. The attributes of color, texture, pattern and animation enrich a multimedia presentation. A very popular and a chief element of multimedia is animation. The key concepts of computer animation are key frames and tweening. Animation is a simulation of movement created by displaying a series of pictures or frames. Animation is strictly a visual illusion. It builds dynamism, energy and motion onto inanimate objects. It also adds the dimension of time to graphics. Computer animation is relevant to multimedia as all the presentations are developed on the computer. Multimedia Interactivity Barker (1994) defines interactivity in learning as a necessary and fundamental mechanism for knowledge acquisition and the development of both cognitive and physical skills. Scientific research shows that the process of remembering in the human brain is faster when people receive much emphasis in various forms for a short period. The concept of interactivity in multimedia helps the human brain to improve the process of learning (Application of multimedia Technology in University Teaching-4). Examination of 75 learning studies (Bosco, 1986; Fletcher, 1990) found that people learn faster and have better attitudes toward learning the material when they learn in an interactive instructional environment (, 2003). Thus, the interactivity is seen an important character for an effective multimedia courseware. Damarin (1982) identified a series of interactive options, which include watching, finding, doing, using, constructing, and creating. While Ambron and Hooper (1988) described interactivity as a state in which users are able to browse, annotate, link and elaborate within a rich, nonlinear database. Hence, interactivity is seen to boost motivation in learning. Motivation is another important factor that should be considered when designing multimedia courseware. Ideally, users should experience an intrinsic desire to engage in the presentation; being interested in completing the task for their own sake rather than because of any value attached to their completion. For meaningful learning to occur, it is important to design for intrinsic motivation on the part of its users (Biggs and Moore, 1993). Intervention Tool for Chemical Safety Education Multimedia enables a way for learners to experience simultaneous graphic, video and audio, rather than in a sequential manner. Moreover, multimedia can provide an enhanced or augmented learning experience at low cost per unit. The power of multimedia can be unleashed to provide long-term benefits to all. Multimedia enrich the learning experience through exploration and discovery. The process of learning can become more goals oriented, participatory, flexible in aspects of time and space, and tailored to individual learning styles. Multimedia allows learning to become fun and friendly, without fear of inadequacies or failure (, 2003). It uses natural information-processing abilities that we already possess. Our eyes and ears, in conjunction with our brain, form a formidable system for transforming meaningless data into information. Another advantage of multimedia courseware over the text-based variety is that the multimedia is visually more simulating. Even when the courseware include s only a few images of little pedagogical value, it at least provides relief from the screen of text and stimulates the eye. (, 2003). 2.3 Learning Aided by Instructional Design using Interactive Multimedia Courseware Instructional Design is a discipline of study and has evolved over the last forty years as a science. It is a young field inspired from areas of communication, psychology and media to form its own theory. Various authors have defined instructional design in their own way. McArdle (1991) defines Instructional Design simply as using a systematic process to understand a human performance problem, figuring out what to do about it and then doing something about it. Richey (1986) defines Instructional Design as the science of creating detailed specifications for the development, evaluation and maintenance situations that facilitate learning. Briggs (1977) defines Instructional Design as the entire process of analysis of learning needs and goals and the development of a delivery system to meet the needs. Learning is primarily the process through which we become the person we are, and it takes place through a variety of media, strategies, and processes, of which interactive multimedia are just one of them. Using these media and technologies, we internalize information and knowledge available in the external world to construct our own experiences (, 2004). Individuals learn, retain, and transfer information better through (Interactive Multimedia in Education and Training, 2004): Table 1.1: Principles that influence the effectiveness of multimedia as described by No. Principle Details 1 Multimedia principle When the instructional environment involves words and pictures alone 2 Modality principle When the instructional environment involves auditory narration and animation rather than on-screen text and animation 3 Redundancy principle When the instructional environment involves narration and animation rather than on-screen text, narration, and animation 4 Coherence principle When the instructional environment is free of extraneous words, pictures and sounds 5 Signalling principle When the instructional environment involves cueing, or signals, that guide an individuals attention and processing during a multimedia presentation 6 Contiguity principle Where words or narration and pictures or narration are presented simultaneously in time and space 7 Segmentation principle Where individuals experience concurrent narration and animation in short, user-controlled segments, rather than as a long continuous presentation

Marketing analysis for the Allianz Group

Marketing analysis for the Allianz Group Allianz Group is a bigger company which providing insurance and financial services. Besides that, Allianz SE which is holding company of international group located in Munich. Allianz was found in Berlin. Germany in 1980 (Allianz, 2010) Allianz Group, with 152,000 employees in the worldwide, which has over 75million customers in around 70 countries. In the insurance market, Allianz is the market leader in the Germany and has strong international presence(Allianz, 2010). Allianz was a historical company which has more than 100 years. Even Germany defeat in the World War I but Allianz was slowly ventured outside Germany to European markets (Allianz, 2010) At the national socialist Nazi Germany in the era after 1993, Allianz fit in with the guidelines. After World War II, Allianz was start to rebuild post in 1945. Allianz was start to get international by spreading its activities to some country in Europe and Americas in year 1950s throughout 60s, 70s and 80s. In year 1990s, Allianz began to venture into the Asian market. (Allianz, 2010). Allianz Group also expanded its asset management business. Today, Allianz Group is one of the worlds leading financial service providers (Allianz, 2010). The mission of Allianz The mission of Allianz is to achieve sustainable growth of our competitive strength and values. In order to achieve this mission, they implemented a series of measures which characterize as 3+one program. They have an overall 3+1 program: Protecting and enhancing the capital base. Substantially strengthening the operating profitability. Reducing complexity. +One: Increase sustainable competitiveness and value. The organization structure of Allianz Board of Management Supervisory Board International Executive Committee International Advisory Board and Joint Advisory Council Employees The organization culture of Allianz Allianz Group culture combines German characteristic and international flair. In Munich, a lot of language will be using by the people when they talking to each other such as French, German, English, Italian, Chinese and etc. However Allianz values local cultures and markets situation does not dictate a one size all fit solution for the individual location. That why Allianz has defined a strategy framework to guiding standards. So that Allianz Group in the worldwide can adopt the cultural and business requirement to specific regions (Allianz, 2010) The macro environment analysis PEST analysis is concerned with the environmental influences on a business. PEST is stand for Political, Economic, Social, and Technological factors of the external macro environment. Political factors often look at the government policies. The economic factors relate to changes in the wider economy. Social factors is relating to the cultural aspects. The technological factors relate to the application of new inventions and ideas. It is an important tool to understanding risks associated with market growth or decline, and as such the position, potential and direction for a business or organization (Thompson, 2002). Following are the different factors affecting the Allianz insurance in UK. Political Some of these factors had a good impact to the travel, car and home insurance in the UK. The government travelers awareness campaign has brought awareness to the public about the dangers of traveling uninsured highlighting the expensive costs of medical treatments abroad. The travel industry has supported and benefited from this as it increased their sales prospects. The minimum car insurance implemented by the government is third party cover. This has a very good impact on the car insurance industry as this guarantees a sale on every car in the UK and because 76% of adult in the UK have a full driving license, all of them are potential customers (Birtles, 2002). Legal General data revealed that most critical illness cover claims are made by people under 40. (Speedy, 2004) This has been good news for age dedicated home and health care insurance companies as less cover claims means less liabilities. However, according to the Bank of England, the rising tax is slowing down the consumer spending. This has badly affected the whole of the insurance industry as people had less money to spend on higher premiums or packages. Economic In todays world facing inflation, people are more work-orientated, so earning more again translating to larger disposable incomes allowing people to live comfortably take advantage of more expensive schemes in insurance such as taking fully-comprehensive cover rather than third-party (Speedy, 2004). Another economical fact is that we are currently at the boom stage of economic cycle and so people are better off. This means that as stated above people are able to live more comfortably and on a general level are better able to afford things like food, shelter, clothing and health care. This translates to fewer illnesses which mean that insurance companies have less payout to make as less people fail ill (Speedy, 2004). Another important factor to notice about the general public in a boom phase of the economic cycle is that people are more likely to pay for products in the service industry. So things that they may have refrained from due to a lack of money like health insurance will be more welcome during a period of boom so increasing revenue for insurers (Birtles, 2002). Social Nowadays, Allianz facing a lot of social problems such as increase of young driver. They choose to insure on parents cars along with saving the money to buy their own cars. Young drivers aged between 17 and 25 also have a higher chance of being in an accident so they are more costly for an insurer to cover so insurers charge more. For this reason the increase in young drivers translates into larges revenues for insurance companies due to the larger premiums. (Birtles, 2002) Besides that, todays society is the increase in the racing culture with large emphasis placed on driving faster and better looking cars. Modified cars are a cheaper alternative to buying a sports car also increasing insurance costs (Speedy, 2004) . In comparison with 30 years ago the average person earns much more today translating to larger disposable incomes. This has leading to more people being able to afford second cars and so being insured on them giving more business to insurance companies (Speedy, 2004). Technology In new era, technology is an one of the important things using by social such as internet, communication technology and so on. With this technology, Allianz can increase the sales and reduce the transaction costs. By using internet, it can changes the delivery service process. Nowadays, Allianz using internet even sells insurance policies. Internet proving to be one of the widely used distribution networks for selling insurance policies. Also internet is used for sending premium notices to policy holders through e-mails (Shinde, et al., 2008) By using internet, it can provide several convenient such as premium calculator which accurately displays the amount of premium month wise and the remaining balance. One just has to enter the age, name of the insurance policy, the sum assured and whether there is an accident cover or not. By the insurance system, the user only by keying the information, this entire them to shown the premium amount within in short time. This has helped the customer in a way so that they dont have to travel all the way to the branch to ascertain the amount of premium to be paid (Shinde, et al., 2008) The international consideration Allianz operate almost in every continent. The regions are Eastern Europe, Central Eastern Europe, Asia Pacific, Americas and Middle East Africa. Allianz is deeply rooted in their domestic market which is Western, Northern Southern Europe. Western Europe is the home of Allianz. (Allianz, 2010) When Allianz wants doing an international business, Allianz will consider the human resource, financial and legal requirement into particular country. Allianz start a new venture in China, financial will incurred in that China will lower than having a new venture in Europe. Furthermore Allianz can get a large human resource in China. This is because the population in China is very large. Allianz also can save cost. The wage pay to the labor is lower and produced the production in a lower cost (Allianz, 2010). When a company intend to going international, they will consider the macroeconomic that will affect in their business. Before enter to a new country or new venture. They will do a research about the external environment of that country or region first and then only decide whether to start the new venture into that country or not. While Allianz also does the something. The macro environment that consider to the company are political or legal condition, economic condition, social issue environment and technology. Those are significant to evaluate a country before doing an international business (Allianz, 2010). There are several methods of going international when a company intends to go international. The company can go international based on export based, non-equity based and equity based. For Allianz which a company just provide services, it use equity based method to going international which include joint ventures and foreign direct investment (FDI). The first company or office that Allianz venture in is in London with open a subsidiary company (Allianz, 2010). Allianz was venturing into Malaysia in year 2001. It become controlling shareholder of Allianz General Insurance Malaysia Berhad(AGIM). However, AGIM was transferred wholly owned subsidiary AGIC in year 2007. Following the completion of the transfer of general insurance business, AGIM changed its name to AMB and became an investment holding company (Allianz, 2010). Besides that, there have several issue faced by Allianz in Malaysia. Currently, Allianz facing managing climate change risk. Managing climate change risk is the biggest challenge to the Allianz facing today with several impacts on insurance industry. Over past 30years, there was a great natural catastrophes claim by the victims which increase 15fold to approx. 30 billion Euros (approximately RM120 billion). Allianz settles 40% of industrial insurance claims are due to natural catastrophes (Allianz, 2010) With managing climate change risks, Loeffler (2010) was recognize climate changes as a matter of great strategic consequence for Allianz. Allianz need to assess together with their clients by mitigate the risks. In the other hand, Allianz was adapting the impact of climate change and safeguard insurability of risk in future. In year 2007, Allianz was established a subsidiary as Allianz Climate with explicit aim to develop new products and investment trends related to climate change. As a insurance business, Allianz need to act an early warning system to help the business and let the society know and understanding about the new risks. Allianz need to prepare in several ways for effects of climate change. Providing risk coverage for emerging technologies for example plays an important role in their future development. Securing the insurability of risks is essential for economies to be able to operate (Loeffler, 2010) The growth of business In year 1957, the Ansoff Matrix was first published in the Harvard Business Review and has given a quick and simple way of thinking about growth to generations of marketers and business leaders and helps them to assess and understand business development or marketing strategy (Manktelow, 2010). Ansoffs product-market matrix explain that a business attempts to grow depend on whether it markets new or existing products in new or existing markets. Market penetration Market penetration is a growth strategy where the business focuses on selling more of the same products or services in current markets. This strategy normally try to fix or increase the revenue of current products and achieve economies of scale through more efficient distribution more efficient manufacturing, and more purchasing power (QuickMBA, 2010). Take for instance; Allianz can use advertising to promote their product or policies. Advertising is an important tool to help the company to build up the brand name. In fact, consumer will compare the products through advertising. An innovative and creative advertising is able to form a well image in the mind of the public in order to stimulate more consumers to buy the products. Besides that, Allianz can implementation other special offer promotions like Allianz can offer a variety of free health checks in different public place such as hospital, shopping complex or any fair related to healthy. Through the event, the consumers were gi ven an opportunity to purchases health product at a promotion rate. (Anon, 2010) Product development Product development is the name given to a growth strategy where a business aims to sell new products or services in current markets. This strategy often try to develop and innovation new product and sell to existing customers (QuickMBA, 2010). For example, Allianz can provide more comprehensive coverage in addition to the existing insurance plans. Like Allianz can give protection among other, medical expenses including dengue, malaria, bungee jumping, amateur sports, natural disasters, kidnappings and thefts. Because these events were became more serious in Malaysia (Allianz, 2010). Besides that, Allianz can packaging existing products it in new ways. Like when husbands buy a personal healthy policy, Allianz will offer a new package that their wife are also can get the free protection from Allianz. It is means buy an insurance policy but the beneficiary is to two persons. Diversification Diversification is the growth strategy where a company promoted new products or services in new markets. This is the most dangerous type of strategy because the business is entering into markets in which it has little or no experience. For a business to use diversification strategy, therefore, it must have a clear concept about what it expects to obtain from the strategy and an honest assessment of the risks (QuickMBA, 2010). For example, Allianz can try to launch the pets insurance policies. Nowadays, many people feel that raising children is not easy, so they prefer to concentrate on their pets. According to internet firms found that over 90% people look pets as their own children. Many people going and acting crazy in love with dogs and cats (Plano, 2007). They will provide a loving, safe, healthy home for their pets by providing assisted living, hospice, and placement assistance. Since so many people regard their pets as children, they will want to help their pets to buy an insur ance policy and protect their pets. So Allianz can be a first company to implementation this new and creative insurance plan. New venture Vietnam which is located in Asia Pacific is the best investment country. Despite the 1997 Asian economic crisis, Vietnams economy has expanded rapidly since the year 1980s Communist Party of Vietnam leaved from the communist economic policies. According to the Economist Intelligence Unit (2010), Vietnams GDP growth forecast is predicted to be strong, at an average of 7.9% between 2007 and 2010. Besides that, foreign direct investment in Vietnam rise 10 percent to between $10 billion and $11 billion in 2010. Foreign Direct Investment plays an important role in the Vietnam economy (Lan, 2010). Know and predominate the necessary need in Vietnam market in this few years, VIPC Capital Management Corporation provide many services such as Non risk investment , Asset management, Portfolio Management which can give more choices for the customer to choose the financial services and financial consultant to increase the effectiveness in fund management and generating profit. With these facilitie s and benefits, Allianz can use foreign direct investment method to enter Vietnam market. Threat of new entrants Allianz should make investigation on what benefits it will get by investing in Vietnam and build a strong customer royalty and make agreement with the government if possible to prevent possible entrants of competitor. As a new entrant, Allianz should build the good brand name to the customers in Vietnam by advertising such as TV advertisement, road side banner and so on. By advertise about the company to citizen in Vietnam to let them know about this company well. However, Allianz need to know the Vietnam citizen culture such as what they like or dislike. Besides the citizen, government rules and regulation need to learn by Allianz to enter into new market such as labor law. It is very important for Allianz to learn the government rule and regulation because some of the things have banned by the government in Vietnam. In other words, it is to make it harder for potential entrants to go in by imposing barriers to new entry. Competitive rivalry This is important for Allianz to know how rivalry in the market of Vietnam as rivalry among competing firms intensifies, causing industry profits decline and can make the industry becomes inherently unattractive. Since Vietnam less of international insurance company, Allianz can take advantage to enter the Vietnam market to gain more profit from the citizen. With brand equity of Alliance, the customer will prefer more for the international company. Besides that, there have only few multinational insurance company in Vietnam but Allianz need to know how strong the brand entity of the competitors are, and also to find out the weaknesses of competitor in order to get affiliate from the domestic consumers in Vietnam. However, Allianz need continuously innovative about the company to competitive with the competitor in Vietnam to gain more profit for it. Bargaining power of buyers Buyers purchases represent a major portion of income for Allianzs total sales revenue, so Allianz must investigate how strong the bargaining power of the buyers of the host country as most of the buyers have the absolute information regarding the price and the availability for the services. Recent year, Vietnam economic has resilient. Vietnams average income per capita has reached an estimated USD 1,200 in 2010 and the country has moved from the list of poorest countries to the list of low and middle-income countries (Vietnam Business Economy News, 2010). Most of the citizens have extra money to buy insurance for their own and their family. Allianz can offer with different types of policy to the customers such in different age of stage and so on. It will attract more customers to choose what type of policy they like due to increase the profit to the company. In the other hand, Allianz should offer a special price to the customers compare to the other competitors to attract for the c ustomers switch to the Allianz insurance. After the buyers purchase the insurance, Allianz need to make good relationship with the customers to maintains the sales because buyers will make income for company profits.

Scientific Revolution and Enlightenment Essays -- Humanities

Discuss the Scientific Revolution and Enlightenment along with the subsequent reaction as embodied by the Romantic movement. Give specific examples of how these movements affected the arts. What was their eventual impact on the western intellectual world. The Scientific revolution and The Enlightenment period overlapped by a hundred years and were co-occurring between 1650-1750. The Scientific Revolution happening first and beginning around 1600, was a period of time when new ideas and tools were created and used to experiment with the physical world, occurring between 1600-1750. New methods increased learning capacities across the board and toward what was thought of as â€Å"human perfectibility†, old ideas were put through a new test of empirical reasoning. Galileo Galilei made advances in astronomy by advancing the design of already existing telescopes by add a 30 power magnification, as a result he received major opposition from the Roman Catholic church (Landmarks 295). During this time Francis Bacon also made a plea for separation between science and religion in his 1620 writing â€Å"Novum Organum†. The Enlightenment period, which was fueled by the Scientific revolution was also called the Age of Reason. The time period was between 1650 and 1800, lasting half a century past the Scientific Revolution. Both eras were based on fact, knowledge and reason as opposed to religion, much like the ancient Greco-Roman advancement. The enlightenment saw the formation of social sciences: anthropology, sociology, economics, and political science –all devoted to the study of humankind and the guarantee of higher and more enlightened social order and achievements (Landmarks 297). During this period philosophers continued to fiercely de... ... was missing from the Enlightenment. The overall reaction to the Enlightenment tossed out social ills and accepted the Scientific revolution for what it was but left it slow to progress until the 20th century which brought about advanced in digital information. The impact of the Scientific Revolution and the Enlightenment on the western world caused philosophers, scholars, and free thinkers to speculate if reason could solve poverty, war, and ignorance. New ways of thinking and reasoning, like the empirical method led to new ideas about government, religion, education, and economics. Works cited Baldasso, Renzo. "The Role of Visual Representation in the Scientiï ¬ c Revolution: A Historiographic Inquiry." Print. Fiero, Gloria K. Landmarks in Humanities. 2nd ed. Boston: McGraw-Hill Higher Education, 2009. Print.

Higher Education Organizational Theory and Leadership :: Public Administration

Higher Education Organizational Theory and Leadership The following briefing paper has been prepared to assist you in preparing your speech to the local chamber of commerce. The topic you have been asked to speak on is outlining the differences in leading an institution of higher education as opposed to running a for-profit business. The briefing highlights key points from three oft-referenced scholarly articles on the topic of higher education organizational theory and leadership. These points explain higher education structures and the differences between higher education organization and leadership and what your audience might be accustomed to. I have included references for your aid. Introduction. Higher education and private business have much in common. They use resources to produce a product for a defined client base. They are led by individuals with vision, passion, and leadership for their organizations. At their heart are dedicated people that make up the organization. However, there are also many differences, especially in making these organizations work well. The Complex Structure of Higher Education. The university is a complex organization. Baldridge, Curtis, Ecker and Riley (1982) found that colleges and universities have characteristics that distinguish them from private enterprises as well as other government organizations. They describe the higher education environment as one where resources allow individuals within the organization room to grow in different directions without the tight restraints seen in other types of environments. They go on to describe the role of the president and other university leaders as catalysts or facilitators rather than the â€Å"my way or the highway† mentality of some private CEOs. Baldridge et al. describe this environment as â€Å"organized anarchy† where this facilitation role, also described as collegial decision making, leads to an environment where decisions â€Å"happen† rather than are â€Å"made.† Politically, this environment tends to be mostly inactive wi th very fluid, fragmented participation. The president assumes the role as â€Å"first among equals†, a mediator between power blocs on campus. This is very different in all but a few private corporations. Loosely Coupled Systems. Weick (1976) takes a very similar view of this organizational theory but from a slightly different perspective. He writes of the higher education institution as a â€Å"loosely coupled system†, a system that differs markedly from the organization system of a private enterprise. The basic theory is that, unlike the militaristic ideal of the â€Å"tight ship† that many private organizations have adopted, loosely coupled systems have â€Å"softer† linkages between each unit of the organization.

Classroom †debate Essay

What methods can teachers / trainers use to establish ground rules with their learners? I currently teach in a â€Å"Category C, Male Populated Prison† and I am employed in education to deliver a broad spectrum of hospitality qualifications to class of 10 learners. In turn I have an obligation to mentor to a minimum of 25 guided learning hours per week, to include numeracy, literacy, and ICT. Therefore it is essential for me that establishing ground rules are fundamental for ensuring classroom management in any learning environment; understanding the needs and views of those contributing, will have a greater appreciation from the group. Atherton, J. S (2005) defines ground rules as† The minimum necessary conditions for getting learning work done in the class. † By setting boundaries for learners, they will help to create a safe and relaxed environment that will ultimately promote transparency, underpin behaviour and mutual respect for each other. Three distinct options could be utilised; * The teacher who can take a very autocratic attitude and dictate the required behaviour expected. * The learners set the agenda, with little guidance, giving limited structure to the classroom. * Open and honest discussion between the teacher and the learners to allow individuals to highlight what they feel is important to the group. This leads towards everyone living with group decisions and refraining from articulating their own personal reservations outside that group. There are several ways of establishing ground rules through consensual agreement and negotiation: Small group method; Breaking the group into smaller units to think about a limited number of suggestions that they feel are important to them. Go around the room to discuss these ideas, while also trying to elicit an understanding behind their submissions. Ensure that the group is happy about their input, but make certain that any missed and basic rules are incorporated Allow the group to openly discuss the suggestions and allow them to debate the value and worth to the classroom. The group can then vote to stipulate what rules the class should adhere too. By recording the rules, you will have a reference point for the class to focus should individuals fail to abide. Periodic revisiting and re-evaluation will highlight any deviation from those â€Å"Ground Rules† Ground rule poster; There can be issues regarding the level of understanding from a group who may have poor literacy standard. A Ground Rule Poster may be more applicable in these circumstances; a pictorial significance can have the same emphasis as a written statement. The Acronym method; Utilise the ground rules to invent a short inventive statement: AAchieve goal LLearner participation EElicit perfection XXcel Brookfield & Preskill’s method Ask the students to think about the best group discussions, they have been involved in. What happened that made these discussions so satisfying? Next, ask the students to think about the worst group discussion in which they have been involved. What happened that made these discussions so unsatisfactory? For each of the characteristics, have the students suggest three things that the group might do to ensure that these characteristics are present or not present as the case may be. Use the students’ suggestions to draft a set of ground rules on which you all agree. Record the guidelines. Copy the list and bring it to section the following week. This way all students have copies that they can refer to over the semester. Periodically, have the class take a moment to evaluate whether the guidelines established at the beginning of the semester are being followed, and whether they work. The kind of behaviour and respect you would aim to achieve by negotiating and establishing the ground rules with the learners will ultimately define and underpin the success of the learning experience. Tutor name: Sally Welsh Word count: 633 Ashley Robson Bibliography Adapted from Brookfield, S. and Preskill, S. (1999). Discussion as a Way of Teaching: Tools and Techniques for Democratic Classrooms. San Francisco: Jossey-Bass. Atherton, J. S (2005) defines ground rules as† The minimum necessary conditions for getting learning work done in the class. †

Alcoholics Anonymous

Metropolitan areas usually have specialized groups, based on such member characteristics as gender, length Of time in recovery, age, sexual orientation, profession, ethnicity, and language spoken† (CAST, 2008). Vast majorities of drug addiction treatment programs encourage the participation of self-help group therapy during and after formal treatment because the patients benefit from the social reinforcement that comes from peer discussion, while also helping to promote, achieve, and maintain drug-free and healthy lifestyles.The 12-Step Program is a uniquely, well-rounded phase of treatment that includes maintaining a close relationship with a sponsor who is experienced with self-discipline and long-term abstinence. The meetings also incorporate skills such as helping others, taking responsibility for recovery, sharing personal experiences, and accepting the existence of a higher power. â€Å"Research has shown that when group therapy either is offered in conjunction with indi vidualized drug counseling or is formatted to reflect the principles of cognitive-behavioral therapy or contingency management, positive outcomes are achieved† (NADIA, 2012).The original 12 Step Guide was inspired and created in 1935 by pioneer AAA members. A couple years later, the two founders of AAA published a book based on their experiences, including both the failures and the successes. The book describes the original AAA philosophy and methods, along with establishing the Twelve Steps. Although it has been revised throughout the years, and continues to be updated, the Twelve Steps have remained intact as it carries on its stories of success from one group to the other.Nearly four decades of scientific research and clinical practice has taught us about many diverse and effective approaches to the treatment of drug addiction, resulting in the creation of overall manuals and guides throughout the years. The etiology of substance use disorders can be explained through a var iety of social dynamics. Genetic factors have been studied most frequently with alcohol and tobacco use disorders. â€Å"Specific genes have been identified, but the interaction of these genes with the environment is key for understanding genetic contributions† (Kiering, 2014).More often than not, drugs are used as an escape – an escape from reality – and this temporary escape is used to avoid the negative feelings and bad moods which are known to be related to withdrawal symptoms. In addition, this also helps in explaining the frequency and pattern of relapse. â€Å"Many substances are used to alter mood (e. G. , to reduce tension of increase positive affect), and people with certain personality traits, such as those high in negative affect or low in constraint, are especially likely to use drugs† (Kiering, 2014).Neurological factors, including the brain's reward pathways, seem to have an influence on the use of some substances in certain individuals. â €Å"Nearly all drugs, including alcohol, stimulate the dopamine system in the brain, which produces rewarding or pleasurable feelings. Incentive-assassination theory explains that the dopamine system becomes sensitive to the drug, as well as the cues associated with the drug (needles, rolling papers, etc. ). Sensitivity to these cues induces and strengthens wanting and craving for the drug' (Kiering, 2014).Cognitive and psychological variables are also very important to detect, such as the expectations about the effects of drugs. When an individual believes, and expects, to have positive effects from a certain drug (e. G. , drinking alcohol to reduce Stress and anxiety), the likelihood that the individual will abuse the rug is extremely high. Coloratura factors also play a vital role in how frequently a substance is used, with family and friends being the most influential.A broken family home (e. G. , marital problems, parent/sibling alcohol or drug use, and legal or psychiatric pr oblems) can have a tremendous negative effect on a child and the decisions they make. A lack of emotional support from parents is found to increase drug use, whereas the lack of parental monitoring if often associated with higher drug use (Kiering, 2014). The idea of being â€Å"popular† and having a ton of friends seems to be a moon goal for the majority of adolescents and young adults.Social influence is explained by the fact that having peers who drink, influences drinking behavior: however, it is also known that individuals will choose friends with drinking patterns similar to their own. While growing up, most of us have always been told to choose our friends wisely; however, they neglected to tell us how difficult this can be. The 1 2-Step program addresses the factors or causes that are responsible for, or related to, substance abuse by helping individuals to understand the concept of change. Processes of change are the covert and overt activities hat people engage in t o alter affect, thinking, behavior, or relationships related to particular problems or patterns of living† (NADIA, 2012). The 12-Step Program helps by addressing a patient's motivation and ability to change while building skills to resist drug use, replacing drug-using activities with constructive and rewarding activities, increasing social alternatives and behaviors that elicit old behaviors, as well as, improving problem-solving skills, and incorporating Sponsorship to help build, or rebuild, healthy interpersonal relationships.It has also been proven that participation in roof therapy, during and following treatment, can help maintain abstinence. A longitudinal study was conducted in 2011 among a U. S. National sample of people who were living in communal-living recovery/transition homes (Oxford Houses) and were also actively involved with Alcoholics Anonymous and Narcotics Anonymous. â€Å"Categorical involvement in a set of 1 2-step activities and averaged summary scores of involvement were examined in relation to abstinence and self-efficacy for abstinence.Participants who were categorically involved in all 1 2-step activities reported significantly higher evils of abstinence and self-efficacy for abstinence at 1 year compared with those who were less involved† (Major, 2011). The results suggest that the 12- step program provides individuals with substance use disorders the resources they need for ongoing recovery. In 201 3, a longitudinal study, similar to the previous one, was conducted among a U. S. Sample of patients who were in the process of leaving treatment for substance use dependencies. Categorical involvement in a set of 1 2-step activities and summary scores of involvement from the Alcoholics Anonymous Affiliation Scale were examined in relation to continuous abstinence and aftercare (Oxford House or usual care) condition† (Major, 2013). The people who were actively involved and participated in the 12-step activities were s ignificantly more likely to maintain and continue drug-free lifestyles after 2 years, versus those who were less involved.Through these two studies, it is suggested that involvement in the 1 2-step program and living in settings, such as the Oxford Houses, are two important factors that are related to continuous abstinence (from both alcohol and illicit drugs) among people with substance use dependencies. Most recently, a study was done on stimulant drug abusers to evaluate the effectiveness of an 8-week combined group, which included individual 1 2-step facilitative intervention and 12-step meeting attendance and service.The study consisted of a â€Å"MultiMate randomized controlled trial, with assessments at baseline, mid-treatment, end of treatment, and 3- and 6-month post- randomization follow-ups (Fiji)† (Donovan, 2014). It took place in several intensive outpatient substance treatment programs and it measured self- reports of substance use, 12-step attendance and activi ties, as well as a Urinalysis. The results were compared with treatment as usual (TAXI), sousing on the impact of incorporating the 1 2-step program into intensive outpatient drug treatment programs.Although it did associate with more days of use among those who were not achieving abstinence during this period, â€Å"STAGE-12 participants had lower Addiction Severity Index Drug Composite scores at and a significant reduction from baseline to the 3-month IF, attended 12-step meetings on a greater number of days during the early phase of active treatment, engaged in more other types of 12-step activities throughout the active treatment phase and the entire IF period, and had ore days of self-reported service at meetings from mid-treatment through the 6-month IF† (Donovan, 2014).More importantly, the study results indicate that individuals in a 12-step program had higher rates of meeting attendance and were involved in more related activities throughout the active treatment phas e and the entire 6-month follow-up period. Being a recovering drug addict and alcoholic, myself, I absolutely recommend the 12-step program to anyone who is looking for help with their addictions. In 2012, was sentenced to do court-ordered drug counseling and it changed my life for the better.The 12-step program was originally signed for alcoholics, but throughout the years it has been known to help any type of drug addict. I was apprehensive about this at first, but I finally understood after my counselor explained that you just replace the word â€Å"alcohol† with your drug of choice. This is why you can now find individualized programs like Narcotics Anonymous, which cater to and revolve around the 12-steps. â€Å"Another benefit of mutual support group participation is that ‘helping helps the helper. Helping others by sharing experiences and providing support increases involvement in 12-Step groups, which in turn increases abstinence† (CAST, 2008). An agree, and have seen for myself, that helping truly does help the helper. Future research that has been recommended is â€Å"systematic encouragement and community access, which utilizes 12-step members as volunteers in a ‘buddy system' that provides a bridge between formal treatment and community 12-step programs† (Donovan, 2013).Instead of just providing a list of meetings and encouraging attendance, which is the typical referral method, counselors should also introduce the individual to a current member of a 1 2-step program using an in-session telephone meeting in order to arrange attending meeting with him or her. Further studies on this idea will help to determine if there IS a significant difference in rates of attendance when being provided a guide between formal treatment and community 12-step programs, as opposed to just relying on will-power.These future studies could also help the effort to decrease the rates of recidivism in drug addicts by providing an extra step into the reintegration of inmates back into society. Overall, research over the past four decades has proven that active participation in any type of mutual support group, specifically the 12-step aerogram, has significantly increased the likelihood of maintaining a continuous, healthy, alcohol and drug-free lifestyle. In addition, â€Å"an important finding is that these abstinence rates increase with greater group participation† (CAST, 2008).