Should The Minimum Drinking Age Be Lowered - 1138 Words

Alcohol is consumed by people for many different reason such as celebrations, peer pressure, anxiety, boredom, sadness, insomnia, and rebellion. These are just a few reason why people may consume alcohol. The category of people also includes teenagers. Many on-going debates have flagged this question whether drinking should be lowered to eighteen or not? Citizens have gave details regarding the affirmative and negative views of the minimum drinking age be lowered to eighteen. Do you think that it is wise to lower the minimum age? Would you look at the negative and positive impacts? Is it more important to give our citizens these full rights? Currently, in the United States the legal drinking age is twenty-one. But as we all know many teenages are involved in underage drinking. But the main question is why? Why do these teenagers drink illegally? The government provides citizens with full rights at the age of drinking. These citizens are allowed to legally purchase cigarettes, vote, join the military, and decide whether or not to complete school. But why is it that alcohol consumption is considered illegal until the age of twenty-one? The powers that control our government decided that when one becomes twenty-one. In this essay, I will first give the affirmative perspective on why the minimum drinking age should be lowered. Then I will talk about the consequences society may face when lowering the minimum drinking age. Lastly, I will provide my perspective and insight.Show MoreRelatedShould the Minimum Drinking Age Be Lowered1128 Words   |  5 PagesTayrin O’Rand 14 March 2012 Should the Minimum Drinking Age be Lowered? The minimum drinking age became a hot topic ever since it was set to twenty one years old. It is a law not everyone welcomes with open arms, one that has the most impact in the lives of adolescents and if violated, one that can put a state at risk of forfeiting ten percent of its annual federal highway appropriation. John M. McCardell Jr., president of Middlebury College; founder and president of Choose Responsibility,Read MoreMinimum Legal Drinking Age Should Be Lowered733 Words   |  3 PagesMinimum Legal Drinking Age Should be Lowered â€Å"Adults under 21 are deemed capable of voting, signing contracts, serving on juries and enlisting in the military, but are told they are not mature enough to have a beer.† (Amethyst Initiative: Rethink the Drinking Age). The causes behind the minimum legal drinking age standardization nationally has not been alleviated in the past couple decades and should be repealed. The minimum legal drinking age should be lowered to the age of eighteen whichRead MoreMinimum Legal Drinking Age Should Be Lowered1253 Words   |  6 Pages Minimum Legal Drinking Age Should the drinking age be lowered from 21 to a younger age? Ever since the end of prohibition in 1933 the United States government has placed the issue of minimum legal drinking age sensitively in the hands of the states, letting each decide for itself what the minimum age should be. At that time all agreed that the minimum legal drinking age should be 21, where it remained for all statesRead MoreControversial Analysis: Drinking Age1278 Words   |  6 PagesCarolina Quiroga April 02, 2012 Leslie Jones English 102 The Drinking Age and Young Adults. Because underage drinking is a major problem for young adults, the drinking age has become a very controversial issue. In the 1990s, the drinking age was 18, but it was changed to 21 in 1984. The Federal Government informed states to choose between raising the drinking age to 21 or foregoing highway funding. This decision obviously affected 18 to 20 year olds who could no longer buy alcoholic beveragesRead MoreThe Minimum Drinking Age Act1700 Words   |  7 Pagesthe National Minimum Drinking Age Act made all 50 states raise the legal drinking age to 21(Dejong). The debate is on whether the age should be lowered or not. Statistically, having the age at 21 has been very helpful in keeping the nation safe. If there is not an issue with age now, would it make sense to lower the age and create unnecessary problems? In this case, the negative effects outweigh the positive. Simply because there is no good in lowering the age. The legal drinking age has been setRead MoreMinimum Legal Dri nking Age ( Tietjen )1700 Words   |  7 PagesMinimum Legal Drinking Age On July 17 of 1984 President Ronald Reagan signed to make the National Minimum Drinking Age Act a law. This law required all states to have a minimum drinking age of 21, if a state did not comply with this law they could face up to a 10% cut in funding for their federal highways (Tietjen). Since this act became a law there has been two distinct sides arguing whether they agree with the minimum drinking age, or whether they disagree. One side believes having a minimum drinkingRead MoreLowering The Minimum Drinking Age1380 Words   |  6 PagesOnce a person reaches the age of 18, they are allowed to tattoo their bodies, smoke tobacco, gamble and even enlist if they wanted to! As an adult, they want to be treated as one but how can they feel like an adult if hanging around with their friends and drinking beer while watching TV is illegal? Of course, that does not stop them, though. The United States is one of the few countries in which still have such a high minimum drinking age. Altho ugh most people think young adults (18-year olds) areRead MoreThe Problems of Underage Drinking Essay526 Words   |  3 Pagescontroversy of underage drinking has been a serious and difficult issue for many colleges, communities, and parents over the past several years. Fifty states in the U.S have already set their minimum alcohol drinking and purchasing age to twenty one. Yet many people, especially teenagers, oppose this legal drinking age and want it to be lowered. Nevertheless, the legal drinking age should not be lowered from twenty one to eighteen because of three main reasons. The higher minimum drinking age can help reduceRead More The Drinking Age Should NOT Be Lowered Essay1006 Words   |  5 Pagesto lowering the minimum legal drinking age. Choose Responsibility, a group founded by John McCardell, proposes that upon completion of a 40 hour course to educate young people about alcohol, 18, 19, and 20 year old people should be licensed to drink. The Amethyst Initiative, part of Choose Responsibility, is a petition to Congress to rethink the minimum legal drinking age. Several college leaders have signed this petition in the belief that lowering the minimum legal drinking age will reduce bingeRead MoreAccording To â€Å"College Drinking,† Almost Two Out Of Three1388 Words   |  6 PagesAccording to â€Å"College Drinking,† almost two out of three college students engage in binge drinking. Binge drinking is a pattern of drinking that brings blood alcohol concentration (BAC) levels to 0.08 g/dL or higher (â€Å"College Drinking†). Many parents, guardians, and psychologists believe that college students binge drink because they think drinking is an integral part of their higher education. Similar to peer pressure, college students drink because the rest of the student body drinks. Furthermore

Globalization Indigenous Peoples and World Free Essays

Globalization is the process in which the world becomes connected through communication, trade, and migration. Globalization can transform cultures and the identity of people within those cultures. One of the primary factors that leads to globalization in the advancement of technology In 1980 Dr. We will write a custom essay sample on Globalization: Indigenous Peoples and World or any similar topic only for you Order Now Knauft began to study an indigenous group of people deep in the forests of Papua New Guinea. This group of people had no contact with the outside world until the 1960’s, they were cut off from everything. They had a language and a name that was unknown to Anthropologists at the time. They were virtually invisible to the outside world. When Dr. Knauft arrived he met the Gebusi people, and began his study. He watched as they preformed ritual dances and wore traditional costumes. The Gebusi people lived their lives according to tradition and beliefs and were not affected by the outside world. The truth is no one can hide from globalization, not even the secluded Gebusi people. With in a matter of only 18 years they were transformed, most of them willingly converted to Christian beliefs, and they became focused on politics, economics, religion and nationalism. They were caught up to speed with the rest of the world due to globalization. The culture of the Gebusi people and their identity was drastically changed due to globalization. They were now on the same page as the rest of the world, and were now connected with the outside world. Trade organized groups such as NAFTA and the WTO make globalization easier to obtain for the smaller â€Å"developing† countries. For the countries that are a part of these groups goods, and ideas are much easier to share. With groups such as these and other factors globalization is inevitable so there is no sense in fighting it. If it were embraced rather then rejected everyone would be much better off. I understand that it can interfere with older cultures and traditions of developing countries, but it’s eat or be eaten in today’s world and you need to do what you need to do in order to compete with other countries and to survive within your own. Globalization exposes who ever it effects to a variety of new and different opportunities that must be taken in order for that group to survive. It can be compared to having to evolve, or becoming extinct. A lot of people see globalization as a bad thing, but its essential for survival in today’s world, and with out it we would be totally secluded from the rest of the world and that would just make everything extremely hard. It also helps keep the world balanced with power. Without globalization one country, or one group of people could easily be way ahead of others, and that could lead to wars and many other conflicts. The positives of globalization strongly out weigh the negatives and I’m not sure why anybody would be against it. How to cite Globalization: Indigenous Peoples and World, Essay examples

FinTech Innovations Samples for Students †MyAssignmenthelp.com

Question: Discuss about the Financial technology Innovations. Answer: Introduction Financial technology also known as FinTech, is composed of the new technologies which are seen to be related to the use of technology with the available amount of the resources in order to deliver the required financial service. It has been seen to be different from the traditional practices of implementing technology in finance. The main areas of the implementation of the Fintech have been seen with the automation and trading risk (Finkle 2016). The various types of the services are seen to be originating from the independent service providers such as insurer and licensed bank. The various types of the interconnection have been further seen to enable the API and several innovations in terms of the Payment services directives. It has been predominantly observed that with the advent of the companies such as Paypal, Adyen, Robinhood, Kickstarter, GoFundMe and Envestnet, FinTech is already seen to be challenging the traditional financial institutions. It has been further seen that the t otal budget of the FinTech companies has exceeded USD 19 Billion in 2015. The main purpose of this report is to discuss the impact of the recent boom in the FinTech innovations in the market operators and exchange. The various discussions of the report will be able to support the growing trend of the FinTech in the industries. (Lee and Teo 2015). FinTech for Market Operators and Exchange FinTech companies that are leading in particular sector along with their challenges Some of the main form of the FinTech companies has been further seen in terms of Stripe, YapStone, Braintree, Adyen, Lending Club, Addepar, Commonbond and Kabbage. Some of the main aspect of the challenges faced by the companies has been further seen to be based on the engineering problems. One of the primary challenges faced by the Fintech companies has been seen in terms of the redesigning online payments (and the associated tooling). Some of the main form of the challenges has been further identified in term of the various types of the perpetrators who are seen to be supporting the products. In various cases the main challenge has been seen to take place in terms of the attesting and writing the code. In several instances it has been seen that the codes are not free from errors. During the processing of the payments it has been seen load on the system has been seen to be much lower in compare to the companies with equivalent scale. One of the other primary problems has been furthe r seen in terms of the availability and consistency of the information required to process the relevant data. The risk of the security aspect of dealing with the information has been further seen to be considerably high. In several cases the system are seen to be prone to targeted by the attackers such as fraudsters. The company has been further seen to take into account the various types of the tools has been further seen to facing problems which are seen to be associated to the reduce the productivity of the developer. In several cases the associated challenges are seen to be raised due to the increased cost of implementation of the technological aspects. In several cases ingesting and digesting is seen to be difficult challenge. Several systems are being worked upon for tailing production data into HDFS, where it can be queried via Impala or processed. Challenges faced by the industry and regulators in the sector to cater for these change Some of the main challenges of adapting to the FinTech have been seen to be evident in form of changes in the investments shake ups, regulation and the technology woes. Despite of Fintech being an effective tool, however the industry tends to get negatively affected by the amount of investment needed in this sector. The main form of the regulation has been further seen to be controlled based on the prevailing regulation. The technology woes has been identified in form of the adapting to the automated system, which is seen to be be not only a challenge in terms of the cost by also adequate manpower in handling the system effectively. The influence of this technology in Malaysia is also evident with the central bank of the country (Philippon 2016). The main regulatory framework for the adoption of this technology in the Bank Negara has been identified with the application and the operation of with Financial Technology Regulatory Sandbox Framework. Some of the major challenges identified by Bernama have been recognized with increased risks for stability, integrity and market conduct. In general, banks and financial institutions have been traditionally recognized for being at the centre of the broader range of using the financial data. The changing environmental explosion of the data has been seen to capture the various aspects of the financial report which are seen to be associated to the necessary trends of capturing the market elements such as lending, financial planning and investments. It has been commonly seen that in terms of the market operators and the exchange functions have been seen to play a major role in reacting to the challenges related to the application of this technology in complex situations. However, it needs to be also noted that the financial institutions and the banks has been seen to actively partner with the market operators such as PayPal, Bitcoin, Adyen, Robinhood, Kickstarter, GoFundMe and among various other service providers of Fintech for gaining a competitive edge over the traditional channels offinance (Finkle 2016). The future exchange and the infrastructure of the market are seen to be controlled by the various types of the operations which are related to support and foster the future growth in the financial markets. The main implementations of the Fintech has been mainly identified in form of the using open service architecture such as application programming interfaces (APIs), beside using the general business model (Mackenzie 2015). The technological innovations have been further seen to be sourced from the structural changes in the recent years. This has been seen to be directly influencing the regulatory, capital, and business model associated to the financial ecosystem. The capital market structure has been seen to be influenced by the capital market FinTech structures. These components has been seen to be directly related to the core market infrastructure, AI Analytics, alternative funding platforms, investment technology and post trade digitization (Philippe Gelis 2016). The important features from the core market infrastructure have been identified in terms of the technology promoting the decentralization and reduction of the physical assets. The post trade digitization in the exchange operations has been further seen in terms of creation of robust operations, which is in compliance with the management, post trade technology and post trade technology (Arner, Barberis and Buckley 2015). The third important feature of the Fintech in the market operators and the exchange system has been seen with the implementation of the artificial intelligence and analytics. In big organizations, the data needs to be handled in multiple sets, which needs to be done precisely with the advancements made in the artificial technology. Whenever we think of the currency, market and financial service trends, the block chain technology has been seen to play a major role in terms of the streamlining the overall process. This technology in the exchange operations in the recent times has been seen with the significant implementation in the Bitcoin and other crypto currencies thereby increasing the efficiency of the overall exchange process (Philippe Gelis ceo of kantox 2016). However, it needs to be noted that there has been some of the challenges which are seen to be associated to the implementation of this technology. It has been seen that in many situations the Bitcoin service is used by the hackers and the ransom ware for succeeding in incognito transactions. This has been further seen to influence major number of people who are seen to be associated to the various types of cyber crime activities. These activities have been further seen to influence a large number of people making encrypted transactions over the internet. In order to curb the various types of the illegal activities which taking place through Bitcoin transactions, the cyber crime law enforcement agencies are seen to be taking an active role for the tracking such illegal activities in the internet (Hung and Luo 2016). The next important action in the exchange operations in the companies has been seen in terms of implementing the Fintech in market operator for changing the dynamics of the asset management business. This has been seen to create more demand in terms of the various types of the activities which are seen to be associated to the offering investment managers of all sizes tools for monitoring markets and allowing better decisions based on robust data analysis (Gimpel, Rau and Rglinger 2016). Some of the various types of the other advantages of this platform have been seen in terms of reshaping of the traditional channel of the business has been seen to influence capital market operation in terms of the equity and the debt capital operations. A similar innovation of the technology has been further seen to benefit the various types of the operations which are seen to be related to the alternative funding measures associated to provide the capital and the liquidity for the corporate (Entrepreneur 2015). In Europe the consumers has been seen with the reliance on the technological advantages which are seen in European countries. The alternative funding platform has been seen to benefit the investors who are looking for higher yield opportunities from the exchange markets. The use of the Fintech has been further seen to influence the transformation process which is seen to be related to achieving of pioneering business model which in the proximity to the end customers and use of innovative technology. The FinTech firms has been further seen to influence the firms for a new capital market model which is based on a more collaborative approach associated to the capital provision, technology, work flow process and overall connectivity in the exchange operation in the market (Treleaven 2015). The main form of the business model has been seen to be applicable in form of the incumbent market centres. This has been seen with scale, infrastructure and expertise. The scale of operations has been seen with access to capital, distribution and trusted intermediary. The infrastructure has been seen to be implemented with existing connectivity, access to the data and the technology. The Fintech implementation process for the market operations and the exchange has been seen to be based on the specific features which are seen to be associated to the business model and technology. The business model has been seen to be identified in form of the application innovative process in the transactions based on the FinTech applications (Accenture 2015). The business model has been further seen to make use of the new model for the access of data. The technological aspect of has been seen to be based on the application of the alternative model for the technology and inclination for lean cloud a s a service offering (McAuley 2015). The core market infrastructure has been seen to be based on the various types of the features which are based on the implementation of the investment technology based on the digitization and the alternative platform for funding. The various types of the platforms of the study has been seen to be based on the types of the considerations made in form of the alternative funding platforms for supporting the necessary exchange operations. These platforms have been seen to be operating with the use of the alternative models such as capital formation across the capital structure related large organizations (Davies, Kashyap and Ruetschi 2016). The present barriers in the adoption of the block chain system in the exchange system have been seen to be implemented based on the technology which is not mature enough to replace the present production system related to the financial services. The technology is further seen to be lacking the scalability and the potential to the conflict which exists in terms of the transparency and the confidentiality of the information (Haddad and Hornuf 2016). Conclusion Despite of the various types of the barriers which exists in the capital flow system based on the application of the FinTech. The report has been effective to identify the several types of the potential of the application of the technology associated to the lending, financial planning and investments in the market operators and the exchange service. The main form of the challenges of the implementation of this technology has been further seen to be based on the technology which is not mature enough to replace the present production system related to the financial services. The technology is further seen to be lacking the scalability and the potential to the conflict which exists in terms of the transparency and the confidentiality of the information. The advantages of the system in the marketing operators and the exchange services have been seen with seamless operations and the easy transactions across global scale. These components has been seen to be directly related to the core ma rket infrastructure, AI Analytics, alternative funding platforms, investment technology and post trade digitization. References Accenture (2015) The Future of Fintech and Banking, Accenture, pp. 112. doi: 10.1007/978-3-319-51415-4. Arner, D. W., Barberis, J. and Buckley, B. P. (2015) The Evolution of Fintech: A New Post-Crisis Paradigm?, University of Hong Kong Faculty of Law Research Paper, 2015/047, pp. 16891699. doi: 10.1017/CBO9781107415324.004. Davies, S., Kashyap, M. and Ruetschi, J. (2016) Meeting the Fintech Challenge, Strategy+Business. Available at: https://www.strategy-business.com/article/Meeting-the-Fintech-Challenge. Entrepreneur (2015) Fintech., Entrepreneur Mexico, p. 22. Available at: https://ezproxy.eafit.edu.co/login?url=https://search.ebscohost.com/login.aspx?direct=truedb=fuaAN=114789836lang=essite=eds-livescope=site. Finkle, V. (2016) Fintech, SAGE Business Researcher. doi: 10.1177/237455680218.n1. Gimpel, H., Rau, D. and Rglinger, M. (2016) FinTech-Geschftsmodelle im Visier, Wirtschaftsinformatik Management, (3), pp. 3847. doi: 10.1007/s35764-016-0057-z. Haddad, C. and Hornuf, L. (2016) The Emergence of the Global Fintech Market?: Economic and Technological Determinants, Available at SSRN 2830124, pp. 137. doi: 10.1007/s10273-011-1262-2. Hung, J.-L. and Luo, B. (2016) FinTech in Taiwan: a case study of a Banks strategic planning for an investment in a FinTech company, Financial Innovation, 2(1), p. 15. doi: 10.1186/s40854-016-0037-6. Lee, D. K. C. and Teo, E. G. S. (2015) Emergence of Fintech and the Lasic Principles, SSRN Electronic Journal. doi: 10.2139/ssrn.2668049. Mackenzie, A. (2015) THE FINTECH REVOLUTION, London Business School Review, 26(3), pp. 5053. doi: 10.1111/2057-1615.12059. McAuley, D. (2015) What is FinTech?, Wharton. Available at: https://www.whartonfintech.org/blog/what-is-fintech/. Philippe Gelis (2016) Fintech, The Rise of Fintech in Finance. Available at: https://cdn2.hubspot.net/hub/310641/file-1445626583-pdf/Rise_of_Fintech_in_Finance/Fintech_DEF.pdf. Philippe Gelis ceo of kantox (2016) Fintech, The Rise of Fintech in Finance, 7(24), pp. 411. Philippon, T. (2016) THE FINTECH OPPORTUNITY, NBER WORKING PAPER SERIES. doi: 10.1017/CBO9781107415324.004. Treleaven, P. (2015) Fionancial Regulation in FinTech, Journal of Financial Perspectives, 3(Winter), pp. 114121.

Metabolism Studies Essays - Animal Physiology, Thermoregulation

Metabolism Studies Abstract The purpose in experimenting with computer simulations was to compare oxygen consumption rates in different mammalian subclasses. We compared monotremes, marsupials, and placental mammals at both warm and cold temperatures. The results supported our hypothesis that when temperature increased, metabolic rate decreased. This was also supported using a students t-test. We also found that placental mammals had the highest oxygen consumption rates and marsupials had the lowest. We compared oxygen consumption rates in different sized crabs at different temperatures. The results supported our hypothesis that the smaller crab would have a higher rate of consumption. However, in the crabs, as temperature was increased, metabolic rate increased also. Introduction The second law of thermodynamics affirms that all living organisms must receive a constant energy input in order to survive (Witz 2000). Almost all bodily activities require energy. It is important to study how animals obtain, process, and dispose of products needed to maintain a positive energy balance. When cellular respiration occurs in the body, heat is produced and given off into the environment by the release of potential energy contained in the chemical bonds of macronutrients. The amount of heat released into the environment and the rate at which chemical reactions occur in the cells are directly related. Two different relationships exist, one that describes the endothermic animal and one that describes the endothermic animal. The rate of heat produced by the endothermic animal while at rest, fasting, and within the thermoneutral zone is dependent upon the basal metabolic rate (BMR). The thermoneutral zone of the endotherm is described as the range of ambient temperatures wit hin which there is a limited change in metabolic rate. The standard metabolic rate is what the rate of heat loss in ectotherms relies upon. The difference between the two rates is the temperature factor. Due to that fact that the temperature of ectotherms has a wider range with ambient temperature than the endotherms, physiologists defined a different measure for the basal level of metabolism. Although it is possible to measure the animals heat lost to the environment by direct calorimetry, it is easier to use indirect calorimetry. An effective way of measuring heat loss is to use the rate of oxygen consumption. Since oxygen is required by most animal cells using biochemical pathways to metabolize macronutrients, and it varies in a predictable way, it is useful in determining metabolic rate. If we can estimate BMR accurately, we can predict the amount of energy needed for important aspects of the animals life, such as growth and reproduction. For comparative purposes in the laboratory, we will be comparing weight-specific metabolic rates. This will allow us to compare the oxygen used by a gram of rat tissue to the oxygen used by a gram of mouse or iguana tissue. We hypothesized that the metabolic rate of the ectotherms, which are the iguanas, will be lower than the metabolic rate of the endotherms, which are the rats and the mice. Computer simulated temperature differences in the environment of both endotherms and ectotherms will also cause a difference in metabolic rate. When exposed to cold temperatures, we hypothesized that the metabolic rate will be greater than when the organism is exposed to high temperatures. The animal requires a greater amount of energy to keep the body warm at low temperatures; therefore, the body must breakdown the macronutrients at a faster rate. Body size also influences metabolic rate. A smaller animal, such as a mouse, should have a greater metabolic rate than a larger animal with the same general morphology, like a rat. This difference in metabolic rate is due to the surface area to volume ratio. A smaller animal has a higher ratio and more surface area exposed to the environment; therefore, it requires more energy to maintain the positive energy balance. Students t-tests were used to compare differences in temperature and body size in endotherms and ectotherms, different mammalian subclasses, and in the crab. Methods Determining the WMR of endotherms and ectotherms- In this experiment, we found the average WMRs of a large endotherm, which was a rat, a small endotherm, which was a mouse, and an ectotherm, which was an iguana. The bottom of the metabolism chamber was covered with approximately 50

RB1 Very Short Essay

RB1 Very Short Essay RB1 Very Short Essay Retail Banks as Financial Intermediaries Professor John B Holland The University of Glasgow January 15th 2015 RETAIL BANKING – Juggling risks - for profit How do it? How learn how to do it? How develop Retail Bank? How get Competitive Advantage? RETAIL BANKING – Juggling risks - as teams & organisation How do it? How learn how to do it? How develop Retail Bank? How get Competitive Advantage? Real world Models of Retail Banks Overview – ‘juggler’ Retail banking – juggling financial risks - and returns /profits Individuals & teams in Bank firms Retail banking – juggling financial risks - and returns /profits Individuals & teams in Bank firms Banks as ‘middle men’ Bank as ‘Juggler’ Individuals Households Households Cash Deposits safety & Payments Services 1-7 Individuals Banks transform deposits into loans Equity Loans and Cash WHAT IS OVERALL VIEW OF INTERMEDIATION MODEL? =Complex ‘balancing’ or ‘juggling’ of risks – for profit ASSETS LIABILITIES ON BOTH SIDES Contracting & control of Information asymmetry =IS Moral hazard =MH, Adverse selection =AS Active screen of, influence of risky depositor/borrower behaviour. Diversification of risks. Use of capital risk ‘buffers’. Cross balance sheet risk effects. Thus transform Risk, Maturity, Liquidity via these internal mechanisms RETAIL BANKING – MAIN SLIDES ï  · Information asymmetry =IS ï  · Moral hazard =MH ï  · Adverse selection =AS ‘Real world’ model of Retail Banking Details of how they do it Retail banking – key points – about ‘real world’ model ï  · Bank as ‘juggler’ of risks for profit ï  · ï  · Small transactions –on balance sheet – small customers Banks exploit - combination of payments & intermediation ï  · Look at each risk area by itself – assume no dynamics between them – no juggling ï  · Contracting to reduce risk - both assets & liabilities ï  · Diversify risk- both assets & liabilities ï  · Cash ‘absorb’ liability risk ï  · Equity ‘absorb’ bad debt risk ï  · ï  · Bank manage risks – seek profit and added value Via how manage lending, how provide payment /deposits ï  · ï  · Overall Juggling = Bank transform capital = Financial intermediary ï  · Retail bank = risk & return management ‘machine’ = ‘real world’ model by size, risk, maturity etc Characterisitcs of RB RETAIL BANKING - CHARACTERISTICS ï  · Financial service provision to individuals and small firms ï  · Large volumes of low value transactions ï  · Large network of branches ï  · Major technology investment ï  · Close interaction with customers ï  · Retail often combined with wholesale, investment, & corporate banking RETAIL BANKING – BALANCE SHEET LIABILITIES ASSETS ï  · Many small deposits. ï  · Many deposit types current, 60 day etc. * Many small loans *many different terms For loans-rates/maturity ï  · Some large deposits from banks, firms. * loans longer life than Deposits & larger size ï  · High leverage low equity, high debt * cash in excess of required & securities as liquidity ï  · Liabilities mainly to fund financial Assets * real assets large but less than financial assets. RETAIL BANK - INCOME AND EXPENSES ï  · Fees & charges do not cover non interest expenses ï  · Labour costs high ï  · Interest margin wider than wholesale ï  · Payments services & ï  · Technology are major expenses Combine Payments and Intermediation? WHY COMBINE PAYMENTS & INTERMEDIATION ? ï  · Bank - based on links between ï  · Medium of exchange & ï  · Store of value ï  · & Bank advantages = ï  · + ‘Payment via claims on bank ï  · dominates payment via trade credit/IOUs ï  · Because banks have advantages in enforcing contracts, ï  · & Their debit cards / cheques /payments are safe / convenient WHY COMBINE PAYMENTS & INTERMEDIATION ? ï  · Money? Decisions to sell & buy ï  · Are separated in time ï  · Since money allows us to sell goods for general purchasing power which can be exercised later. ï  · Money used as store of purchasing power (= PP ) ï  · Seller can hold the proceeds between sale and future purchase ï  · - in wallet, but often in safe bank account ï  · Or buyer

There Are Several Ways to Check the Status of Your Immigration Case

There Are Several Ways to Check the Status of Your Immigration Case Whether you want to apply for citizenship in the United States, are seeking a green card or work visa, want to bring a family member to the U.S. adopt a child from another country, or you qualify for refugee status, the U.S. Citizenship and Immigration Services (USCIS) office offers resources to help navigate the immigration process. After youve filed for your particular situation, you can check your immigration case  status  online, where you can sign up for updates via text or email. You can also find out about your status by phone, or make an appointment to discuss your case with a USCIS official in person.   Online Create an account at  USCIS My Case Status so you can check your status online. Youll need to sign up for either an account for yourself if you are seeking the status of your case, or as a representative of someone else if you are checking on a relative who is in the immigration process. Whether youre applying yourself or for a family member, youll need basic information such as official name, date of birth, address, and the country of citizenship to answer security questions during the registration process. Once youve signed up, you can log in, enter your 13-character application receipt number, and track progress of your case. From your  USCIS account, you can sign up for automatic case status updates via email or text message to a U.S. cell phone number whenever an  update has occurred. By Phone or Mail You can also call and send mail regarding your case status. Call the National Customer Service Center at 1-800-375-5283, follow the voice prompts, and have your application receipt number ready. If you filed an application with your local USCIS Field Office, you can write directly to that office for an update. In your letter, be sure to include: Your name, address, and (if different) your name as it appears on your applicationYour Alien number, or  A-numberYour date of birthThe date and place your application was filedYour application receipt numberA copy of the most recent notice sent to you by the USCIS, if you have received oneThe date and office where you were fingerprinted as well as the location of your interview, if it has taken place or been assigned yet In Person If you want to talk to someone face-to-face about your case status, make an InfoPass appointment  and bring: Your A-numberThe date and place your application was filedYour application receipt numberCopies of any notices sent to you by the USCIS Additional Resources Find out how long it will take to get your visa. You can also look up local processing times for USCIS applications and petitions.USCIS offers a toll-free military help line exclusively for members of the United States military and their immediate families.Looking for Diversity Visa green card lottery results? Starting with DV-2010, diversity visa status information has been available online.

To what extent do you agree with the Slovak proverb 'The more Essay

To what extent do you agree with the Slovak proverb 'The more languages you speak, the more of a person you are How is this no - Essay Example The word 'identity' has taken on a different meaning. Identity has become part of the chaotic behaviour creating social perception (Freeman79 ) "Identity is a complicated cycle process: knowing, claiming and recognizing". (Chryssochoou 2000) which requires the use of language to communicate. The process of socialization, and communication have become the part of the sociolinguist's job. In this essay we will identify the complex meaning of identity and associate it with the meaning of language. Multiple identities are related to the multiple roles we take in society. It will be shown that speaking a second language, is not an extension of the first language thus a countable number of identities but another set of independent roles in itself. As an independent set of roles is established, a new pluralistic identity has been established. A bilingual person can perceive himself as a different set of identities depending on which language he is speaking. An English speaker will not speak the same language at home as he will speak at work in a foreign country. Or if he does speak at work it will not be at the same linguistic level as it would be if he were speaking to native English speakers. A multilingual personal will have more identities. The more languages a person speaks the more identity roles he will have. Building a better self identity of a L2 learner is done through the use of L1 in the classroom. This technique is the opposite that 20 years ago. Only the target language was thought as being the best result for teaching. As the proverb is dealing with two distinct topics, the essay will deal define the concept of identity then show how identity changes with the concept of multilinguism and then show it affects identity differently. The globalization of languages will be presented to show the effect on languages. A Sociological approach to self identity "The core of an identity is to put the "self" into a "role" and integrating the meanings and expectation s with the role and the performances" (Stets & Burke, 2000). Self is comprised of the mind as the thinking part (Stets & Burke, 2000). The thinking part creates action by the use of language as a means of communication. The concept of one's self or self concept is a collection of meanings used based on information that we have interpreted or gathered from others and taken as information about our 'evaluation' of our existence. (Chryssochoou, X 2000) The language two learner builds his acquisition on how the quality of his performance is perceived by others. Our sense of changing from the learner and the others can be perceived as idealistic or realistic, as the level of the learner is constantly changing (the classroom versus the real environment) Most of what we know about ourselves come from our environment. . Two dimensions of Self esteem have been identified: seeing oneself as competent and capable and feeling that one is accepted and valued (Chryssochoou, X 2000). Self worthine ss and having the ability to succeed are important in establishing the identity theory."In terms of language acquisition, efficacy is a belief about one's ability to become fluent" (Bandura 1995) Identity is a generic term as it is complex and multi-faceted. "The identities are the meanings, one has as a student, a teacher, a mother, a worker†¦Ã¢â‚¬ ¦" (Stet & Burk, 2000). The Identity Theory in Sociology takes into account 5 common principles

Business Economics for the World Market Essay Example | Topics and Well Written Essays - 750 words

Business Economics for the World Market - Essay Example Based on this analysis the total costs of the project exceed the present value of future sales. It is true that the total costs of the project exceed the present value of future sales, but we have to consider the R&D costs were already incurred. If the company were to decide to reject the project the R&D expenses would become a sunk cost. A sunk cost can be defined as cost that has been incurred that cannot be reversed (Investopedia). If the firm decided to forfeit the project the accumulated sunk cost would lead to a project loss of $8 million. On the hand if the firm decided to invest an additional $4 million dollars the firm would end up with a final project loss of $2 million. It is better to lose $2 million than to lose $8 million. Another possibility of continuing the project is for the company to create extension products or other related product lines in the future. These products could help improve the total performance of the project in order to reach profitability. Another consideration for the company is that producing this product can help the firm improve its overall market share in the industry. The firm should have performed a better analysis of the potential returns of the project much earlier in the project life cycle. Since the firm already invested $8 in research and development the best decision is to continue with the project. I do not agree with the recommendation of canceling the project. The firm made bad decision in the past to undertake the project and invest $8 million in R&D without having a good estimate of the potential returns of the project. Right now rejecting the project at its current development stage would compound the original problem. 1b) The new information given that the marketing and overhead expenses associated with continuing the project amount to $4 million does not change my opinion about the best solution for the firm. Based on the new figures the company would lose $6 million if they continue with the project. If the firm decides to discontinue the project the overall loses for the project would be $8 million. The company should continue with the project in order to learn from their experiences. Based on the new information I would be more willing to reject the project if the financial conditions are not correct. For instances if the company does not have the $8 million dollars readily available I would recommend the company does not go out of their way to incurred in moves such as selling common stocks to finance this project. The firm should implement changes in its risk assessment protocols for new products or capital projects in order to incorporate the utilization of methods such NPV to assess the viability of a project prior to investing money in research and development initiatives. 2) The video rental store owner would have benefited a lot from having more knowledge about economic concepts. It is possible that the owner made a decision based on the law of demand and supply which sti pulates that by lowering the price of an item the volumes of sales will go up as a consequence. The error the video rental owner made is that he did not consider the implications of having a price of elasticity of -0.45. The price elasticity of demand is an economic variable that measures the responsiveness of the quantity demanded of a good or service to a change in its price (Absoluteastronomy). The price elasticity of the firm can be categorized as relative elastic since the value of -0.45 which is between cero and -1. This implies

Juvenile Boot Camps Essay Example for Free

Juvenile Boot Camps Essay Correctional boot camps for juveniles, as well as for adults, focus on structure, discipline and physical and/or mental challenge. The experiences of the offenders in the programs are anticipated to change them in a positive way so that their future criminal activities will be reduced. The mechanism for this change is attributed to various factors such as self-esteem or increased bonds with staff and peers. Some also expect that these punitive programs will discourage others from committing crimes or that the individuals who spend time in the programs will be deterred from future criminal activities. There are basically three types of boot camps: the military drilling style that focuses on strict discipline; the rehabilitative approach; and the educational/vocational model. In 1985 the first juvenile boot camp was established in Orleans Parish, Louisiana. In 1987, only four state correctional system boot camp programs existed. In 1992 there were three pilot juvenile boot camps started in Ohio, Colorado, and Alabama. The offenders sent to these locations were non-violent offenders less than 18 years of age, and were to complete a three-month residential program and six to nine month aftercare program. However, there were reports of a lack of consistency and coordination in the aftercare programs which lead to substandard results as opposed to those high intentions of lower recidivism. By 1993 there were forty-six reported in thirty states. This number grew increasingly to boast 75 facilities for juveniles by 1997, in 33 states. These figures represent only official state facilities, and do not include private camps and those established by local jurisdictions. If the figures included these facilities run by other jurisdictions and private persons the number would be significantly higher. The idea of juvenile boot camps is much newer than adult faculties, although, in Texas alone their Juvenile Probation Department approved eighteen proposals to construct juvenile facilities across the state (Tyler, 2001). There are several elements of juvenile boot camps which include a regimented military-style program, strict discipline and rules, young, first-time nonviolent inmates, and programs that offer a shorter alternative to prison sentences. These elements can be altered in order to form different methods of treatment within the camps. The goals vary within each program, but effectively they are all similar. They range to include incapacitation, deterrence, rehabilitation, reduction of prison costs and crowding, and punishment. Each program varies these goals in order to obtain the maximum positive potential results possible (Keenan Barry, 1994). Rates of recidivism can be dependant on the types of offenders allowed to participate in the program, and therefore these participants are controlled for in order to make the programs look desirable to continue to obtain public support and funding from the state. There are several people that play a role in deciding the participants of the program. These players include the sentencing judge, the correctional authority operating the boot camp, or a combination of the two. Another factor that plays a role in participant selection is the participant themselves. These young offenders are able to choose to participate in the boot camp or endure a longer period in incarceration. Surprisingly there are a majority of offenders that choose incarceration over the tough boot camps (Selcraig, 2000). There are several issues that arise when studying boot camps. One needs to understand how to make boot camps effective in order to reduce the risk of reoffending after completion of the program. The camps used to be considered as scaring children senseless and it was thought that this idea scared the children not to re-offend. Now there has been more studies and researchers realize that this method needs to be mixed with treatment and aftercare in order to be an effective tool of punishment and treatment. Despite common wisdom holding that nothing works to alter a life of crime, programs can achieve rehabilitation by emphasizing problem-solving skills and anti criminal role-modelling. (Castellano) Another alternative to community supervision are halfway houses or partial community confinement, designed to provide help to the offender in being reintegrated into the community. These alternatives are also thought to increase rehabilitation and incapacitation, but at the same time they will increase the costs of rehabilitating the offender. This method combined with assistance in finding a job, counselling, and length of time monitored should prove effective in reducing re-offending. Monitoring comes in the form of electronic monitoring, and urinalysis. However, if these new methods prove to be more effective if combined as an aftercare program with the boot camp then it is a necessary tool that should be provided to the offender. There should be no cost too big in rehabilitating the offender because not only is it the offenders future at stake but possibly the publics too because it is thought that they usually re-offend with more serious crimes. The research on juvenile boot camps suggests that completion rates were high in the first year of the program, but research on aftercare programs suggests that nearly half of those who graduated to the aftercare phase dropped out, were arrested for a new offence, or were discharged for not complying with the programs rules. It was reported that in March 1992, every existing program was equipped with the necessary tools to provide education and/or drug-abuse treatment, although they were not originally equipped to do so. However, there is a belief that the effectiveness of boot camps as a deterrent to recidivism is less effective than the public believes. Further research must focus not so much on why the rate of recidivism is so high, but rather on how the boot camp program itself deters those who do not recidivate. There are several reasons that researchers attempt to use in order to defend the use of boot camps. They argue that the high recidivism rates can be accountable by a number of reasons. For example, they claim that the high rates are because some of the graduates were re-arrested for violent or aggressive crimes that they committed before boot camp, but the system was not aware of these crimes before assignment. They also claim that when the programs were started there was a huge backlog of high-risk youths in the system, so the boot camps received some of the worst offenders and can not be to blame for the high recidivism (Szalavitz, 2002). This point can be argued because isnt the program supposed to rehabilitate the offender? Does it matter if the offender is considered high-risk? The program operators are claiming success rates in order to obtain funding and continued support, however, they are saying that certain offenders can not be rehabilitated. It is not fair for someone else to decide whether or not someone is able to be rehabilitated without giving them a chance to prove themselves. No two people are alike and different people respond differently to treatments. There are also other negative aspects to these alternative measures of incarceration. There are several incidents of reported deaths caused by unnecessary roughness or physical exertion at these boot camps. Barry Krisberg, president of the National Council on Crime and Delinquency in Oakland believes that boot camps are poorly regulated, and notes that many camps require counsellors who have gone through the program themselves, meaning many have criminal records, and are left in charge of the children. This does not seem like an appropriate method for dealing with the children. Leaving them with counsellors with criminal records seems like an accident waiting to happen. Who is to say these counsellors are treated and reformed, especially after all the research indicating the possibilities of reoffending after the programs (Sharp, 1995). As well, there are reports of younger inmates being sexually assaulted, and one could assume others are physically assaulted by older inmates. According to an article published in 2000, there are at least half a dozen children that have died in boot camps, and other investigations have concluded that hundreds of others have been put through emotional and physical abuse (West, 2000). The costs of boot camps run an average of ten times higher than the cost of a juvenile on probation, according to the Office of Juvenile Justice and Delinquency Prevention. The average cost of each youth enrolled in a boot camps program runs about $93/day. These figures range from $65/day at the Boys and Girls Clubs of Greater Mobile Alabama, to $120/day at the Second Chance in Connell, Washington. This works out to be approximately $33,480 per year per youth. Also in comparison, Kansas, which does not currently have boot camps, spends $47,400 per year per youth housing an offender in an institution (Tyler, 2001). There is also research suggesting the validity of the boot camps and their success in rehabilitating young offenders. The researchers claim that if there was an increase in the number of paid staff it would increase the number, quality, and intensity of training and rehabilitative programs within the camp. However, a downfall to this is the increase in funding that would be necessary to keep the programs up and running. Another idea that has been suggested is the multi-use of locations- using an existing prison site and incorporating the boot camps into the same location. They believe this would also decrease recidivism because it would serve as a deterrent when the offender saw the option of jail as another form of punishment and realized how unappealing it is. Colorado, North Dakota and Arizona have ended their boot camp programs, Georgia is phasing them out, and Florida and California are cutting back. This all due to the fact that there continues to be a lot of controversy over the effectiveness of the boot camps and whether or not they are effective in reducing recidivism and helping the offender to become a responsible contributing member of society. Along similar lines of boot camps, are another fairly new idea of programs. These programs are more interested in treatment and provide more education, as opposed to using the military-style punishment. One such programs sends recruits to spend a weekend with the U. S Marine Corps, learning obedience to orders and discipline. Researchers criticize this method of program because they believe that since their disobedient behaviour took time to develop, it will take more than a weekend to cure their negative behaviour (Tyler, 2001). Upon reading most of the information it seems as though a general question seems to arise- if it is the aftercare that ultimately determines whether the offender is likely to re-offend, is the boot camp necessary or can we skip right to the aftercare portion? This is an interesting question because it questions the authority of the state to spend the money on the boots camps if they cannot even be linked to reduced recidivism. Further research needs to be done into the effectiveness of these camps because it needs to be discovered whether or not they can reduce recidivism. If in fact the camps are not responsible for the rehabilitation or scared straight technique, but it is due for example, to the aftercare, then we need to focus more attention on this. It is very important to obtain the most effective results possible so that we can help these troubled youths to lead a more productive and fulfilling life. As it stands now, the aftercare focuses on reintegration into the community, using a counsellor. This counsellor includes the family and community when assessing their method of care. After a program is made to suit the individual, there is strict supervision, used in conjunction with rewards and sanctions available to the successful candidate (Begin, 1996). There is no data on the effectiveness of the facility. All in all, the use of juvenile boot camps are a highly criticized and often highly respected means of treating and punishing the young offender. Their use has been criticized often for not reducing recidivism rates and their abuse of participants. However, any reduction in recidivism should be looked at as a positive because it is one less youth who is going to endure a life of crime, and one less youth who is committing a crime and harming the general public. Because a lot of the facilities are responsible for reducing recidivism, boot camps are still in use today. Overall, although there is negative data related to the use of boot camps, there is also a lot of rewarding experiences and positive outcomes. These experiences allow for the continuation of the programs and continued improvements in the aftercare are being made to better the services of the boot camps to improve the rehabilitation process of the young offender. References Begin, Patricia. (1996). Boot Camps: Issues for Consideration. Ontario: Library of Parliament- Research Branch. Keenan, John; Barry, R. (1994, March). Measuring the Military Atmosphere of Boot Camps. Federal Probation, 58, (1), 67-71.

Early Cross-Culture Settlement on the Northern Black Sea Coast :: essays papers

Early Cross-Culture Settlement on the Northern Black Sea Coast Scyles was a Scythian prince who led a double life. He was a prince of the Scythian nomads who controlled a large area surrounding the Greek colonies on the northern Black Sea coast. But like all great Greek plays, his story is a tragedy. Scyles was fascinated by the city of Olbia and the high culture of the Greeks. So he created a second life for himself within the walls of Olbia; he kept a Geek wife and built a palace to live in.. He dressed in Greek robes and participated in the Greek religious festivals. However this was his secret for he never told nor shared this part of himself with his nomad tribesmen. His was a world of duality. One day during the celebrations of Dionysus, some of Scyles’ tribesmen came to peer over the city walls and saw their prince parading down the avenue leading the Greek procession in their festivities. It is easy to estimate what happened. Scyles was found out and forced to flee, he sought asylum in Thrace but was handed back for exec ution to his usurping brother. Treason of nation has always been a capital crime. The story of Scyles is an important because it gives us a glimpse into the world of the Greek colonies on the Black Sea coast. Although they were founded and cultivated by the Greeks, it was ultimately the peoples of the region, mainly the Scyths whose future the cities hands lay in. Archaeologically we can see a unique blend of the two civilizations working together and in opposition to control the power and economy of this region The city of Olbia was one of the most influential of the Black Sea colonies, and although not the largest it was one of the oldest and had a critical geographical position that gave it its prestige. Archaeologically, Olbia provides an opportunity to examine a classic Greek colony as well as a glimpse at the interaction of two cultures developing alongside each other. Olbia The existing site of Olbia can be seen clearly from the water. It is about three miles in length and lies on the Bug River estuary near the Dnepr River. It’s location is central because of the adjoining agricultural communities of the Scyths.

Carter Case Essay

1) First, how would you recommend we go about reducing the turnover in our stores? Turnover is a problem that is likely to be present in any low payed, low skilled job. Carter Cleaning can directly effect this turnover rate in a positive way through some guidance. Some great incentive for people to stay with a business is by providing opportunities for advancement. This could be practiced by Carter Cleaning by offering management positions to people who have been working with the organization and fit the criteria. Also, they could offer incentives such as discount dry cleaning for the employees families as incentive to stay. Another way to reduce turnover is to provide a functional, employee engaged, and cheerful work environment. Making the workplace an enjoyable experience for employees is a huge part in getting them to stay with the company. TLNT suggests, †create meaningful employee experiences,† to help reduce turnover. Finally they can also provide very flexible work schedules, so that people have a greater comfort and freedom to work when they would like. The Wall Street Journal suggests, â€Å"Pay attention to employees’ personal needs and offer more flexibility where you can,† in order to reduce turnover. Another angel of attacking the turnover problem is by having a good hiring process. Hiring good fits for a job is important in keeping them active in the business. This can be done as Heathfield argues in about.com by, â€Å"Select the right people in the first place through behavior-based testing and competency screening.† If Carter Cleaning implements these suggestions a decrease in turnover can definitely be expected. 2) Provide a detailed list of recommendations concerning how we should go about increasing our pool of acceptable job applicants so we no longer face the need to hire almost anyone who walks in the door. Many ideas come straight out of my Human Resource Management text book to answer this question. An important place to start would be forecasting workforce and turnover for the business. This can be done by viewing statistical data over the past years. That way the company knows when they are likely to need new hires. The second thing that should be done is an increased applicant pool. This can be obtained in several ways. First, I would create interest in working at the business by promoting its job strengths in the local areas. They could promote themselves as a pleasant place to work, or a flexible place to work. This can be done by bulletins, web advertisements, and window signs. A strong and good brand will attract more people to want to work and apply to Carters Cleaning Company,â€Å"†¦should build its brand or reputation amongst potential applicants† (Dessler, 114). Also, let applicants know of any benefits for working with the company, and promoting the possibility of advancement from within. This will draw initial interest to the company. The company must exist on the internet, â€Å"For most employers and for most jobs, Internet-based recruiting is by far the recruiting source of choice† (Dessler, 116). This makes it easy for interested parties to apply to the company. Creation of an effective and easy to use application for both the web and walk-ins is crucial. This will provide an easy selection process for Carter Cleaning, and less hassle for interested parties. These promotions must be effectively placed throughout the web to attract the correct type of people that would be interested in this kind of job. This can be done by utilizing social media such as facebook, myspace, and linkedIn. These pages can be â€Å"crawled† virtually to find possible applicants based on a number of related items such as location, interest, and education. To even further increase the applications, referrals are very effective. Jennifer should post new job â€Å"†¦openings and requests for referrals on [the company’s] website, bulletin board, and/or wallboards† (Dessler, 125). Employee referrals typically â€Å"†¦provide accurate information about the job applicants they refer†¦,† which will make it easier to find qualified applicants to fill opened positions with qualified employees that will most likely stay at the company over six months (Dessler, 125). Finally, there needs to be a place to record applications for future use. This could either be done on a computer or physical files. The basic way of solving this problem is to keep job interest high by promotions, and possible hires close at hand with the use of application records. References Experiencing Employee Turnover – More Tips to Reduce Employee Turnover How to Reduce Employee Turnover – Management – WSJ.com 10 Tips For Reducing Employee Turnover Dessler, G. (2014). Fundamentals of human resource management (3rd ed.). Upper Saddle River, NJ: Pearson.

Outline current legislation guidelines

The UK government provides guidelines to organisations and individuals in England and Wales to inform them about how legislation enacted in Parliament should be interpreted and applied. Policy is the term used to describe as a principle or rule used to inform decision making within organisations, so that they are able to achieve a rational or desirable outcome. Policy differs from legislation as it guides actions, but cannot compel or prohibit behaviours. A procedure is a document written to support a policy principle or rule.A Procedure is designed to stablish corporate accountability for implementation of a policy by describing the set of actions that have to be executed and by whom within an organization in relation to it. Practitioners working with children do so within a complex framework of both national legislation and guidance, and local policy and procedure, directed at safeguarding and promoting the welfare of children. For practitioners to achieve the best outcomes for chi ldren it is essential that they are familiar with the legislative and policy framework within which work.In terms of current legislation and policy afeguarding the welfare of children and young people is defined as: protecting children from maltreatment preventing impairment of children's health or development ensuring children are growing up in circumstances consistent with the provision of safe and effective care. Child protection is an aspect of safeguarding children's welfare and refers to the activity that is undertaken to protect specific children who are suffering, or are likely to suffer, significant harm.Children Act (1989) The Children Act (1989) charged local authorities with duties to safeguard and romote the welfare of children in their area, to work in partnership with parents and to provide â€Å"services for children in need, their families and 17). The Act also imposed upon local authorities a â€Å"duty to investigate if they have reasonable cause to suspect that a child who lives, or is found, in their area is suffering, or is likely to suffer, significant harm† (section 47).The Children Act (1989) requires courts to make the welfare of the child the paramount consideration in any judgments made. It also introduced the principle that delays in court proceedings ere harmful to the child. The Act articulated the principle that parents have responsibilities for their children not right over them. Education Act (2002) The Education Act ( 2) included a provision (section 1 5 requiring school governing bodies, local education authorities and further education institutions to make arrangements to safeguard and promote the welfare of children.The Laming Report (2003) The Laming Report arose from the inquiry into the murder of child abuse victim Victoria Climbi ©. In his report Lord Laming made at total of 108 recommendations for he overhaul of child protection in England and Wales. Key recommendations of the Laming report included: The cre ation of a children and families board chaired by a senior government minister, to coordinate policies and initiatives, that have a bearing on the wellbeing of children and families.A national agency for children and families, led by a children's commissioner, should be established to ensure local services meet national standards for child protection and implement reforms. The report directed that Safeguarding Boards for children and families should be stablished by councils, with members drawn from social services, education, housing, the NHS, the police and probation services. The boards should appoint a local director of children and family services to monitor effective interagency working on child welfare and protection.The creation of a national children's database that keeps a record of every contact a child has with a member of staff from the police, health and local authorities. Every Child Matters (ECM) (2003) The I-JK government responded to the Laming Report with the Ever y Child Matter (ECM) green paper launched in 2003. ECM covers children and young adults up to the age of 19, or for those with disabilites up to the age of 24..Its main aims are for every child, irrespective of their background or circumstances, to have the support they need to: Be healthy Stay safe Enjoy and achieve Make a positive contribution Achieve economic well-being All childcare settings are required to demonstrate that are promoting the 5 (SHEEP) principles of ECM. Each of these themes has a detailed framework attached whose outcomes require multi-agency partnerships working together to achieve.

CEOs essays

CEO's essays If you were to ask me what I wanted to be when I graduate, I would give you an answer that you would not likely expect. It would be something that is impossible to be right out of college, but it is my main goal. That job is that of a CEO. I enjoy being a leader and making an impression with everything I do, but I was unsure if that was material for a future CEO. I found a book that really struck my attention because it is a book about fifty of the nations most successful businessmen. This book is Lessons from the Top by Thomas J. Neff and James M. Citrin. It reveals insights and gives you a closer look at their million dollar ideas and what sparked them. This book profiles fifty of the nations best CEOs and highlights at the end on six principles that all of them more or less share. The six principles to successful management by Neff and Citrin are: 1) Live with Integrity and Lead by Example 2) Develop a winning strategy or Big Idea 5) Create a Flexible, Responsive Organizations 6) Reinforcing Management and Compensation These principles are not in a particular order or should not be done one at a time, but these are something that should be implemented in your company around the clock. Living with integrity and leading by example are two of the essentials to success. It is the voice of right and wrong that directs you through life. Hank Greenberg of AIG thinks integrity coupled with the ability to achieve results is what makes a good leader. Employees spend a lot of time watching the boss to see what he is doing and because of this managers must have a large amount of humility. Many say a persons ego can be their demise. Herb Kelleher makes a good point when he says, The best leaders must be good followers as well. He says you have to be willing to go for other peoples ideas even and especially when you are struggling with your own. Herb Kelleher is quot...

Anne Hutchinsons Words and Their Later Significance

An Hutchinson's word and its subsequent significance, although Anne Hutchinson was only involved in religious discussions at her house during the trial, but in review of Mrs. Anne Hutchinson of Newton Court it is weakened and unclear A trial took place in 1637, the standards for treatment of women later, followed by speech and writing, Hutchinson confessed that he was guilty, so maintaining the power to the priest (and male) woman To (or to maintain) - to control the power of women and to interpret the human-made meaning from words. Anne Hutchinson is very important for Puritans. Because she teaches the beliefs based on the Bible and the spiritual insight that God's revelation does not end in the Bible but continues through the spirit. Hutchinson has a very important meaning for Americans. Because she follows her belief, despises authority, and begins to realize her dream. Like Hutchinson, Hester Prinn lived an American dream. She is an intricate combination of tradition and extremis m, holiness and sin, purity and sex. In the novel, we saw a small businessman through her skills and her efforts in means. We saw that sympathetic sisters are taking care that they are dying with the sick. We saw a mother raising her daughter in her own faith. We are seeing women help her and love her and give him salvation An Hutchinson's word and its subsequent significance, although Anne Hutchinson was only involved in religious discussions at her house during the trial, but in review of Mrs. Anne Hutchinson of Newton Court it is weakened and unclear In the absence of a basis, This trial was conducted in 1637 for the treatment of future women, the subsequent rhetoric and sentences standardized, Hutchinson confessed guilty by the prosecution law (priest (And men)) or maintain women's power - control the power of women and interpret the human - made meaning from the words. In the 16th pregnancy in 1639, Anne Hutchinson aborted and gave birth to many organizations - she may be diagn osed as a mole today. Hutchinson was expelled from the Boston church a year ago and was exiled from the colony of the Massachusetts Bay. Her numerous believers are threatening the power of the ecclesiastical (and political) elders. That is the heart of so - called opposition debate. John Winslow of the Massachusetts Gulf Colonial Governor asked her about her flat speech during the Ministerial Conference even though he was still worried about the exiled Hutchinson.

Marijuana- illegal or legal What is best for Hawaii Research Paper

Marijuana- illegal or legal What is best for Hawaii - Research Paper Example It was also commonly used as an intoxicant in this period. However, a campaign by the Bureau of Narcotics and Dangerous Drugs, portraying it as an addictive and powerful substance that acted as a gateway drug led to its illegalization. It became a symbol of authority rebellion for hippies and college students in the 60s. Along with LSD and heroin, marijuana was classified as a schedule 1 drug in 1970 through the Controlled Substances Act, which classed it as possessing high potential; for abuse with no accepted use in medicine. The Bush and Reagan â€Å"zero tolerance† era saw the passage of strict regulations and sentences for marijuana possession and increased surveillance of cross-border smuggling (Joffe & Yancy 637). This brought a shift to reliance on domestic marijuana cultivation in California and Hawaii. However, expanded crackdowns saw another shift towards indoor growing; leading to a decade of falling marijuana use. However, its use saw a revival in the 90s, which l eveled off in the 2000s. Where We Are Today In Hawaii With Marijuana? On 8th March, 2011, the state senate passed five bills related to marijuana. Senate Bill 58 increased marijuana amounts that an individual could carry to allow them carry 5 ounces or grow 10 plants at any given time (Cooper & Daws 276). The bill was also meant to protect the confidentiality of patients and address issues concerning marijuana transport. Bill 113, in turn, provided for a marijuana research program of three years, which would be conducted in Hawaii involving local marijuana users and qualified researchers. Bill 175, should it be passed into law, would see a shift in authority of marijuana laws to the Health Department from the Public Safety Department. Bill 1458 aims to create three class levels for licensing purposes: the first is â€Å"compassion centers that will be responsible for the dispensation of marijuana, the second for cultivation centers, and the third for the sale of infused marijuana ( Cooper & Daws 279). One of the most essential steps towards marijuana legalization is Bill 1460, which seeks to decriminalize any amount of marijuana that is less than one ounce. The bill also proposes that requirements that currently call for reporting of students in possession of marijuana be cancelled if they are caught in possession of less than an ounce of marijuana (Cooper & Daws 280). The five bills in the Senate are widely supported with two among them seeing unanimous approval with the other three facing a maximum of two no votes. These bills are expected to continue towards House approval. According to a number of senators, the economic conditions, money spent on arrests, drastic debts in the state, and the proven effects of medical marijuana make it high time to learn from the decriminalization in Colorado. In addition, if law enforcement and state government should put their efforts towards proper taxation, rather than prosecuting and prohibiting distributors, growers, a nd users so as to provide revenue that is required to improve the debt in the state (Cooper & Daws 281). The recent support given by senate is a sign that this is agreed on by a majority of the senators. Marijuana as a Legal Drug Uses of Marijuana There are various methods of marijuana administration, such as smoking of dried buds, vaporizing, taking capsules, and eating or drinking extracts

Biomedical ethics Essay Example | Topics and Well Written Essays - 750 words

Biomedical ethics - Essay Example In the U.S. 36 states ban late term abortions, however Alaska has no such ban. Where do we draw the line, or do we? In the early 1960's there was a sleeping tranquilizer/morning sickness agent given to women containing thalidomide; a drug with harmful teratogenic effects producing serious birth defects during the early gestational development period. Thousands of babies were born without limbs, as well as other birth defects. Once research revealed the disaster, the U.S. immediately removed it from the market; however the damage was already done. One such mother, Mrs. Sherri Finkbine, had been abroad with her husband been given the drug. When she discovered the potential for birth defects, she decided to abort her five month fetus. In Arizona, it required three doctors to state that an abortion was necessary. She had the medical opinion; however because of the explosion of thalidomide cases, she was required to go to court to get legal permission to abort; permission denied, requirin g her to go to Europe to have the procedure done. Upon her return, she faced social castigation, losing her job. There were also serious implications for her husband, a professor. Many magazines gave graphic coverage of the story, including Life, The New York Times, The Saturday Evening Post, and numerous others. Thus began the abortion on demand dilemma that has been discussed and theorized for the last fifty years. According to the Free Dictionary Online, abortion is defined as the "expulsion from the uterus of the products of conception before the fetus is viable." Spontaneous abortion is when the pregnancy terminates itself naturally. Therapeutic abortion is when the abortion is medically induced out of concern for the health of the mother or fetus, a form of artificial abortion, not occurring naturally. Partial birth abortion is when labor is induced and the infant is delivered except for the head, which is then opened at the base of the skull and a suction catheter removes the brain, killing the infant. The legal definition of abortion was determined in the famous Roe vs. Wade Supreme Court decision on January 22, 1973(410 U.S. 113), as the termination of pregnancy, by any means, before the fetus is able to sustain life independently from the womb. This famous court case set a precedence for abortion in the U.S. by prohibiting any state from preventing a woman to choose whether or not to terminate her pregnancy in the first trimester, making it a question of medical necessity to prevent abortion in the second trimester, and, requiring the health of the mother to be preserved above the life of the fetus in the third trimester. The main stipulation was that it should be done by a licensed physician, in order to protect the life of the woman. On the same day, the Supreme Court ruled on another case, Doe vs. Bolton (410 U.S. 179), that supported a woman's right to have an abortion by limiting the ways in which she is counseled so as to influence her decision . Some states have required teenage girls to have parental permission to submit to the procedure; such a signature is required for any medical procedure on a minor. According to Warren, a human being isn't a person until it is a part of the moral

Globalisation Essay Example | Topics and Well Written Essays - 2000 words - 4

Globalisation - Essay Example been broadly understood as a concept, policy and process casually used to describe a variety of phenomena that reflect increased economic interdependence of countries. It includes flows of goods and services across borders, reductions in policy and transport barriers to trade, international capital flows, multinational activity, foreign direct investment, outsourcing, increased exposure to exchange rate volatility, and immigration. These movements of goods, services, capital, firms, and people are believed to contribute to the spread of technology, knowledge, culture and information across borders (Fischer, 2003; Soros, 2002; Balakrishnan, 2003;Geriffi & Sturgeon, 2004). Thus, globalisation permeates the contemporary world. The paper aims to understand the positive impact of globalisation in India. As such, the focus question is how do changes brought about by globalisation have a positive impact in India? The paper will have the following structure: first part is the introduction where globalisation is defined, and the problem is presented. The second part is the presentation of the economic scenario of India. And the third part is about the positive impact of globalisation in India. India with a population of 1,139.96 million as of 2008 and a population growth of 1.3% annually is one of the emerging powers of the Third world (Harris, 2005). India’s 2008 GDP is $1,217.49 billion still higher by $40.60 billion than 2007despite the world economic crisis. Both the agricultural and industries sectors share 36% of GDP with 18% each respectively in 2008. The services sector comprises 53% of the GDP while India’s exports of goods and services for 2008 cover 24% of the GDP. There is a remarkable increase in workers’ remittances from $38666 million in 2007 to $51974 million in 2008. Foreign direct investments have tremendously increased from $6,677 million in 2005 to $22,950 million in 2007. Also, an increase in number of mobile phone subscribers from 21 per 100

Economic Environment In Russia Economics Essay

Economic Environment In Russia Economics Essay In the year 1990 the Russian system underwent tremendous stress as it transformed from a centrally planned economy to a free market system (US Commercial Service, 2010). Following the breakup of USSR, Russias GDP observed a continuous period of decline from the beginning of 1991 until 1998 (PriceWaterhouseCoopers, 2010). The reasons for the serious financial crisis in 1998 were difficulties in executing fiscal reforms aimed at raising government revenues and a reliance on short term borrowing to finance budget arrears. The financial problems aggravated due to lower prices for Russias major export earners (oil and minerals) and the loss of investor confidence due to the Asian financial crisis. This resulted in the rapid and steep decline (60%) in the value of the rouble, runaway of foreign investment, delayed payments on sovereign and private debts and a breakdown of commercial transactions through the banking system (US Commercial Service, 2010). The Russian economy began to bounce back after the 1998 economic crisis with an annual GDP growth of 7% from 1999 to 2007. This led to a sharp increase in prices for Russias main exports (oil, petroleum products) and import substitution effect led to the roubles devaluation in 1998, a tax reform, tightening of fiscal policy and greater political and social stability. The economy witnessed growth as a result of extraordinary rise in the consumer oriented sectors, particularly in the construction and services industries. In the year 2007, Russias GDP increased by 8.1%, and by 2008 the GDP further increased by 5.6% (PriceWaterhouseCoopers, 2010). Russia was hit by the global economic crisis in the second half of 2008, which impacted the Russian economy immensely. The economy began to shrink, which led to falling sales, production and layoffs. In the year 2009 the economy diminished by 7.9%, through a positive revival trend that occurred in the second half of 2009, when the economy recommenced reasonable growth. The manufacturing, industrial production and construction industry witnessed a sharp decline in growth. The wages decreased and the labour force was only 66% of the total population. The number of unemployed measured 8.4% of the workforce (PriceWaterhouseCoopers, 2010). The downturn faced by the global capital market reached Russia, which led to the closure of the global sources of funding. Foreign direct investment dropped by 41%, that   is 3.6% of GDP. The major attractions for foreign direct investment were manufacturing, retail, mineral resource extraction and transport. The figure estimated for net outflow of capital is US $52bn. In 2009, the Russian equity market was affected adversely. Russian companies attracted US $1.7bn via IPOs and SPOs, whereas in 2009 only one IPO (Initial Public Offering) was registered. Nevertheless, the IPO is expected to witness a boom in 2010 (PriceWaterhouseCoopers, 2010). The end of 2009 brought positive news for Russia: the international credit rating agencies Standard Poor, Fitch and Moodys reviewed their sovereign rating outlooks for Russia from negative to stable, which was a result of higher oil prices and dropping of inflation (PriceWaterhouseCoopers, 2010). 3.1.2 FUTURE ECONOMIC DEVELOPMENT (2010-2012) The economic development scenarios for the next three years has been drafted by the Ministry of Economic Development. They have been categorised into moderately conservative, pessimistic and optimistic. In accordance with the moderately conservative scenario, the GDP for the next three years has been depicted in Figure 2 below. The figures in the graph were derived from the prediction that the oil prices will remain at relatively high levels: US $65 per barrel in 2010, US $70 in 2011, and US $71 in 2012 (see Appendix C) (PriceWaterhouseCoopers, 2010).https://lh6.googleusercontent.com/A-V1_X47l-ha1boxdlCsEzJET-SIMACWsuvCyyBVt5VNYS-XF2godrATGtxo-rg_k30qOiQ9y0KiK6TogxhIEd75L3Sj7346nBTJQVX8b74auUOsupE Figure 2: Forecasted economic growth Source: own compilation based on data from PriceWaterhouseCoopers, 2010 Despite 2009 being a challenging year for Russia, the country managed to achieve three important goals, states President Medvedev. First, the government has survived to maintain social stability and put together all planned social payments. Second, the government and the Central Bank respectively have managed to keep the currency steady and brought about financial stability. Third, the government extended support to its core businesses. Since the government has taken this action, none of the large enterprises have gone bankrupt (PriceWaterhouseCoopers, 2010). Concurrently, the countrys economic development has been constricted due to problems which Russia has failed to deal with this year. The problems faced by the country are the dependence on raw material exports, increasing unemployment levels and low competitiveness of domestic businesses. The Russian Government has been quite positive in dealing with the crisis by considering economic policy measures (PriceWaterhouseCoopers, 2010).   Overall, the economic conditions in Russia seem to be favourable for Pufferfish to do business there in the nearest future. 3.4.1 LEVELS OF CULTURE An international businessperson needs to be aware of three levels of culture that may affect a multinationals operations. These levels include national culture, business culture, occupational and organizational culture. The diagram below shows the levels of culture that affect multinational management (Cullen and Parboteeah, 2008).https://lh5.googleusercontent.com/MDXcQRqh-4Qj_Khq7TfFEGYm7BUCkc_wJWhD29zy75RBl7GmBfjFA0gPP-NUQ67ZG7cAxgW_p47D07tc3TMr7Wx4kZ6zqHqWq5UiJ2VMUNmugd2oAOg Figure 3: Levels of culture Source: Cullen and Parboteeah, 2008 3.4.2 THE DOS AND DONTS OF DOING BUSINESS IN RUSSIA    The Russian market is a highly competitive market, where salesmanship is a key factor. Firms willing to enter the market should be prepared to express the competitive advantages and factors that differentiate them from others in the marketplace (US Commercial Service, 2010). Developing personal relationships with business partners is a crucial factor in the effective cooperation of major projects, government procurement or, for that matter, even in cultivating long-term business relations. One of the most difficult tasks   can be arranging a business meeting with potential partners.In addition,it may take a long time to receive a reply to an email,fax or a even telephone request for a meeting (US Commercial Service, 2010). To conduct business in Russia it is essential to know the Russian language if not an interpreter should be employed if needed. A substantial number of businessmen can communicate a courtesy level of English; however, they prefer conducting business discussions in Russian (US Commercial Service, 2010). Business cards are vital and are exchanged spontaneously. Your cards should have nothing more than your regular contact details, email address and website if available. It is advantageous to carry a bilingual business card (one side in English, one side in Russian). Promotional materials in Russian can be an crucial tool for developing interest in a companys product. The translation however has to be perfect and of high value (US Commercial Service, 2010). Sometimes during meetings Russian businesspeople tend to have very little verbal feedback. They listen quietly and with little obvious body language being exhibited   This does not mean that the listener is unable to comprehend it is just a cultural characteristic. They should be given the time and space needed to participate fully in a conversation (WorldBusinessCulture.com, 2011). 3.4.3 CONTEMPORARY RUSSIAN CORPORATE CULTURE Peter Zashev (2004) says in his article that the contemporary Russian corporate culture could be presented as a cross-section of four sets of different factors and their subsequent impact on collective and individual culture and mentality. The aforementioned can be described in the figure below. https://lh6.googleusercontent.com/LTKsFRqlpglWJeud7Jz7NVHb3CgRPb7TX0lw-ZZhddf90GO8M2EY7dZJhu1h3ygm6e5awAiNJ2ccd8gkbKozam9lYaEO9RxOAgfJvTRmJPv528-DRek Figure 4: Four sets of factors forming the contemporary Russian business culture Source: adapted from Zashev, 2004 Common Russian Values and Morals: One of the most influential element of Russian values and morals is the total lack of competition in the Russian social and economic life. Due to this nature the state of Moscow had the following characteristics. A militaristic nature   as it had to battle enemies and expand further geographically. A society based on compulsion and force rather than law with clear division of social groups that differed in their duties and not in their rights. Supreme power of the state/tsar. All the above characteristics slowly killed the concept of free competition. As a consequence of this, a highly centralized system was built, where the competitiveness was directed mainly at attracting the attention of the supreme power through gifts, bribes and networks of prominent personalities. This also explains why most international Russian projects are financed by the state (Zashev, 2004). Soviet Values and Morals: During the soviet times the system did not go through much change.The soviet rule enforced many concepts such as the following. Uravnilovka   that removed the link between work and pay. Increasing the level of bureaucracy, making cheating an inbuilt part of the economic system. Repression that later became a state concept and removed initiative, decision making and freedom of choice. The soviet system did not succeed in eliminating corruption, and it continued to afflict the whole Russian system. It, in fact, became the way for a normal life.   The foreign operations of the Soviet companies were state owned. It was only the Foreign Trade Organisations that were allowed to link Soviet factories with their overseas markets, suppliers or others (Zashev, 2004). Transition Values and Morals A dramatic change has appeared in the last fourteen years in the form of a massive retreat from the government. The privatisation in Russia created a new social group of owners, investors, capitialists and industralists (Zashev, 2004). Corruption and Bribery Corruption of officials in Russia is endemic, a system-wide state of affairs with deep historical roots (Zashev, 2004, p.27). It is now a common procedure for Russian businessmen to regularly pay bribes to government officials.   The government officials take economic decisions soundly on the basis of underlying motives. Many argue that the practice is a harmless means to facilitate government approvals and avoid penalties. High levels of bribery are the reason for low levels of competition, a factor that is needed for economic growth (Zashev, 2004). Businessmen from the UK not only have to worry about the corruption levels, but also have to watch out for the Bribery Act. The bill was published in draft on the 25th of March 2009 and received Royal Assent on the 8th of April 2010 (UK Government, 2010).    3.4.4. SO WHAT WILL THE BRIBERY ACT COVER? The Bribery Act looks at reforms in the criminal law with the intention of delivering a new modern and comprehensive scheme for bribery offences that will permit the judiciary and prosecutors to counter more successfully to bribery, both at home and abroad (UK Government, 2010). The Act will: provide a more efficient framework for combating bribery in the public and private sectors; create two general offences covering the offering, promising or giving of an advantage, and requesting, agreeing to receive or accepting of an advantage; create a discrete offence of bribery of a foreign public official; help tackle the threat that bribery poses to economic progress and development around the world (UK Government, 2010). During our inteview, Mr.Kell expressed his unfavourable attitude towards unfair trading practices, but he mentioned that if payments are necessary to facilitate market entry, it can be done. However, The Bribery Act will make things more complicated and put UK companies, including Pufferfish, at a disadvantage, especially in emerging markets such as Russia, where bribery is a custom. It is important that the company considers that in its market entry decisions. 6.1 MOSCOW Moscow, being the capital of Russia, is one of most promising markets for Pufferfish Limited. Moscow is the largest city in Russia, accounting for 7.34% of the total population of Russia (The World Bank, 2009). The advantages and disadvantages of   targeting Moscow are as follows. Advantages Moscow is the major business centre, with a well-structured distribution channel which will provide Pufferfish with an opportunity to reach out to its clients without much difficulty; The presence of large shopping malls and big box stores in Moscow will allow Pufferfish to reach out to a larger audience. The large hypermarkets present in Moscow contribute to the sale of 50 percent of consumer electronics that are advertised in Russia (US Commercial Service, 2010). As seen in the figure below, 51.60% of the total foreign investments is mainly from Moscow during the period January-September 2009.Due to the high intensity of consumers purchasing power and the large   presence of company headquarters,the region continues to attract a large amount of investments(US Commercial Service, 2010). https://lh4.googleusercontent.com/ftVUl9i1YmCG06SfBi2FoWQmrto4M6j-5LbOIxDuhYP8A5Zc5_U4pKkhk6pPehlHmeoTW8mTT9S8GWYufTBb4swnxdN01Od2GoJ0Qd_LfECTH8PJ5vc Table 4: Foreign investment top regions Source: US Commercial Service, 2010 Disadvantages Registering a company in Moscow is very expensive. Though Moscow represents the most populated city in 2009,   the major problem faced by companies wanting to set up their business in Moscow is that it requires 9 procedures and costs 2.7% of the total GNP per capita to complete all business procedures (The World Bank, 2009). The major problem of conducting business in Moscow is that it is has become increasingly challenging to find qualified local partners and Russian employees. In addition to this, the salaries of local employees have risen significantly in Moscow (UK Trade and Investment, 2009). Nevertheless, the positive side to this is that the digital signage market is Moscow is booming. According to the Association of Communication Agencies in Russia, in the first half of the year 2008, Russia witnessed a significant growth of 13% in outdoor advertising, largely due to the increase in the digital signage market (Rushworth, 2008). Statistics from Integrated Systems Russia, an exhibition held in Moscow in 2009, shows that Moscow witnessed 66% of the total visitors, followed by 12% in the Moscow region and 4% in St. Petersburg (Integrated Systems Russia, 2009a).The figure below represents the ranking of visitor activity from different regions in Russia.https://lh3.googleusercontent.com/7vfeTRpsRebFYxlzz95uB26cpCYa1G2PXHmi-sa_vof1n61Uy6hz71_gm3APoivUDKRs32MMjpefgnM2aDbM08yvKoPYEK5d3XvoApCOE21xVot1Opg Figure 6: Ranking of visitor activity from different regions in Russia Source: Integrated Systems Russia, 2009a Digital Education that took place in Moscow in 2009 was targeted at Moscow and Federal government officials responsible for education, which signifies the potential for the latest audio-video equipment (Integrated Systems Russia, 2009b).This clearly indicates the market potential for the Puffersphere products in the Moscow digital signage market. 6.1 ADVERTISING In the Russian advertising market television, radio, print and billboard media are widespread. The domestic and international advertising agencies are effective in Russia. The boom in the advertising industry in the country is a result of strong economic growth and increasing incomes. Companies that were affected by the economic crisis have recovered and started investing in mass media for advertising. Although the traditional methods of advertising still do exist in Russia, advertising agencies have refined their communication methods to meet the needs of the modern firm and are progressing quite well (US Commercial Service, 2010).The shopping malls, airports and advertising agencies present in Russia appear quite promising for the Puffersphere XXL and M models. Pufferspheres definitely have a great potential in the Russian market. Moscow and St. Petersburg have plenty of shopping malls and big box stores where Pufferspheres M and XXL can be used for advertising products (US Commercial Service, 2010). Afimall shopping centre is located in the core of Moscow city and is by far the largest shopping mall in Russia. Puffersphere XXL can be used for displays and indoor advertising in this mall   (AFI Development, 2008). Airports are another segment that Pufferfish can consider. Moscow has three major airportsà Ã‚ ± namely Sheremetyevo, Domodedovo and Vnukovo. St. Petersburgs airport comprises of two terminals: Pulkovo-1 (domestic flights) and Pulkovo-2 (international flights).Puffersphere XXL can be used in these airports to display flight information, advertising and to display television channels (US Commercial Service, 2010). Other advertising agencies that can be interested in buying Pufferspheres are Starcom, Mindshare and Mediacom. The aforementioned media agencies can use the spheres for advertising (Mind Advertising Limited, 2011). The major concern for the company can be the cost of the product. Nevertheless the advertising agencies, airports and malls operate on a large scale, making the Puffersphere prices affordable for them. 8.3 CORPORATE In the past, Pufferfish Displays limited has taken part in exhibition centres and trade shows all over the world which has enabled the company to generate awareness about their product and build new contacts (Geoff, 2011). A significant part of marketing in Russia takes place through trade shows. Russians prefer to shop at trade shows as it provides them with an opportunity to learn from the array of technical experts and company displays. The success of European companies is mainly due to their high participation rates which is around 90 % of all foreign companies in the Russian shows and this is evident through their market share of industrial equipment which is approximately 70 percent. The exhibitions held in major cities are usually visited by representatives of regional governments and state enterprises from distant areas to purchase goods (UK Trade and Investment, 2009). Promotional seminars are another efficient way to increase awareness of equipment and brand awareness in the Russian business community. The seminars usually gather appropriate press coverage in the industry publications   (UK Trade and Investment, 2009). Trade fairs for the digital signage market have been taking place in Russia for quite some time now. The Integrated Systems Russia is the leading show with people visiting from all over Russia and abroad. Since Puffer fish uses an opportunistic approach for its sales, the Expocenter, which will be held in Moscow this year will act as a platform for Puffer fish to enter Russia (Integrated Systems Russia, 2010). Statistics from the previous year proves that the exhibition is a major success and attracted more than 8000 visitors. The figure below represents the visitors business activity (Integrated systems Russia, 2009a) https://lh6.googleusercontent.com/FiaHLl88-9l8jODnGWssuT0XI_EXs__oTKeURgcz-aQpFavDV8s2uC1XUaQlkTecmUplA3F1VqGxYFGLJfRLoWyuFlJrToyokKoCxC09hM2B9UQ0cl8 Figure 3: Integrated systems Russia 2009 Source: (Integrated systems Russia, 2009) The 2011 Expocenter certainly seems promising for Pufferfish Limited and will open a wide spectrum of opportunities for the company. The show presents the latest AV and electronic system technologies to the commercial, professional and residential electronic systems integration industries (Integrated Systems Russia, 2010). This provides Pufferfish an opportunity to display their Puffer sphere XXL and M models and in turn help Pufferfish attract various target segments on a single podium. 9.1 Uppsala model: Johanson J. Vahlne J-E. (1977), The Internationalization process of the firm a model of knowledge development and increasing foreign market commitments, Journal of International Business Studies, 8(1): 23-31 https://lh5.googleusercontent.com/2I_BZ45ctC9ENlGidRD_VREX0JKyHUMxuolE-ZaA7djj3UqzFFmpAMDfxyKdvcsTYYJsTqSnASCsWNF37pL8UNRG5JwEVW5QWGBCZNT1RDevQgsLw8Q (Johanson Vahle, 1977). https://lh5.googleusercontent.com/YKQWjMvYoipq2TfLg1Z2W_a2wuqnB8Wuc-dRdyZ2TSfxaIdqguTTMdoszm6s1NRjpJ80IUtPJCh6Ii8_l3_0Mz8cL1L17pMEeiS97JRFUDEk-f8RH1A http://www.provenmodels.com/586/internationalisation-process/jan-johansonjan-erik-vahlne/ The Uppsala model is a dynamic model which explains the internationalisation of a firm as a process. The model explains two patterns in the internationalisation process of the firms (Johanson Vahlne, 1990, in Johanson Associates, 1994). The first pattern explains the establishment chain wherein the company engages in operations in a particular foreign market. The establishment chain consists of a sequence of stages that are created in small incremental steps with extended commitment which increases with every new step. The four stages were identified by Johanson and Wiedersheim-Paul in the year 1975 which are as follows: 1.   Ã‚  Ã‚  Ã‚  Ã‚   No regular export activities 2. Export via independent representatives (agent)   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  3. Sales subsidiary and   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  4. Production/manufacturing (Johanson Wiedersheim-Paul, 1975, in Johanson Associates,   Ã‚  Ã‚  Ã‚     Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   1994, p. 34.) The second pattern describes the fact that firms have a tendency to enter new markets with sequentially greater psychic distance and also greater geographical distance in some cases (Johanson Vahlne, 1990, in Johanson Associates, 1994; Hollensen, 2001). Firms therefore have a tendency to enter markets they understand, where they perceive opportunities and the uncertainty levels are relatively low. As proposed in the model, the firm can perceive opportunities without uncertainty only through experiential knowledge. Therefore, the firms choose incremental steps and engage in a sequential manner in foreign markets (Hansson, Sundell , ÃÆ'-hman , 2004) . Joint ventures or Greenfield: Joint ventures: The most recognised mode of entry into a new market is through establishing a joint venture with a foreign firm. A joint venture requires setting up a firm that is jointly owned by two or more otherwise independent firms. A joint venture involves two or more companies creating a legally independent company to share some of the parent companys resources with the purpose of developing competitive advantage.   Joint ventures can take various forms, with the most common being a 50/50 shareholding in a company.A few advantages of a joint venture are the reduction of risk through sharing of the project, facilitate entry into a market and quick profits. However problems such as inability to work with the local partner due to the varying organisational cultures and the national culture, can affect the joint venture and limit its performance (Lynch, 2006). In recent years,the rate of International Joint venture(IJV) formation has continued to rise steadily among the emerging markets in Latin America, Asia   and Eastern Europe.   The aforementioned emerging markets account for close to 70% of all IJV entries by multinational corporations. According to a survey conducted by Deloitte, 35 % of companies used joint ventures to enter into emerging markets but only 21% continue to use them. The chart from Deloittes research shows that Joint Venture is the most popular entry mode into developing markets (Mahidhar et.al, 2009). https://lh3.googleusercontent.com/RF5UMKWJ67-S0PRLoVETrzdfVxDx1q_ncwGmM9izsH0QQRGPEwxY_R64xXjX7RviiN77Wae-Q-Qc0ePjGCKwanPiXTvf8TrDrMnDpUW-AsbMlhi_M6A SOURCE:(Mahidhar et.al, 2009) This section typically aims at answering some of the common question that arises when foreign investors use joint venture in Russia   (Schwarz Viktorov, 2005):  ·   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Are there restrictions on foreign participation? In general there are no restrictions on foreign participation except for certain industries such as banking and insurance field   (Schwarz Viktorov, 2005).  ·   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  What are the legal problems which a foreign investor in a joint venture faces? The formation and operation of joint ventures are relatively easier for foreign investors due to the liberalisation of the process of state registration of joint ventures and foreign currency legislation. Nevertheless, a few problems do exist (Schwarz Viktorov, 2005): o   Ã‚  Recurring change of legislation. o   Ã‚  The state authorities fail to conform with established terms and procedures for provision of consents, approvals, registration and issuance of licenses and so on.  ·   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  What are the types of joint venture vehicles commonly used by foreign investors? The figures below represent the principal types of joint ventures:https://lh4.googleusercontent.com/RnQg8HPYJ6ZvBOpuQcfbwff_LORWvqfVpA9Q5vj3miT1TbyK7lvJfueE9BTOGeysFfIqaPx1-JuNQbwdTx6N_kIkhq0IKYUFojl0HMqaLyRDRQXiqAE Source:   (Schwarz Viktorov, 2005) FORMING A RUSSIAN LEGAL ENTITY: The above figure describes the types of commercial legal entities that are recognised by the Civil Code of Russian Federation such as general partnerships, limited partnerships, limited liability companies, additional liability companies, additional liability companies, joint stock companies (UK Trade and Investment, 2009). There are two types of joint ventures namely limited liability companies (LLC) where in involvement is based on participation interests and joint stock companies ( JSC) where in involvement is based on shares (Schwarz Viktorov, 2005). The crucial part of entering a market is to decide whether to enter as a limited liability company or joint stock company. LLCs are preferred over JSCs in setting up a wholly owned subsidiary since the process of establishment and operation of an LLC is less taxing and time consuming as there are no legal requirements that an LLC must issue shares or perform any procedures related to issuance, establishment and issuance of securities. This form of entity is more flexible and mobile as there is no requirement of issuing shares when the participants need to change the contract capital of the company. Nevertheless, a JSC is preferred for a joint venture in Russia between parties that are not related due to the following reasons. First, in an LLC each participant is eligible to leave the company at any time and for no specific reason, without the consent of other participants. In comparison to a JSC, the LLC law considers a lot of issues which requires undisputed voting decisions of LLC participants that might not be fair for a joint venture partner who is a majority participant in the LLC (UK Trade and Investment, 2009). Given the current situation Pufferfish Displays limited must invest into Russia only after they gain sufficient knowledge about the market. This may take a good three to four years. Depending on the situation then the company may choose from the aforementioned entities. They may additionally take help or guidance from the Russo-British Chamber of Commerce or the UK Trade and Investment for setting up the preferred entity. Pufferfish Displays, 2010. Services:Content Creation and Consultancy. Retrieved March 17, 2011, from Pufferfish Ltd: http://www.pufferfishdisplays.co.uk/services/ Pufferfish Displays, 2009. Case studies:Eurovision. 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