Wednesday, October 30, 2019

Managerial Finance Essay Example | Topics and Well Written Essays - 1500 words - 1

Managerial Finance - Essay Example Any effort that could increase profits above the hurdle will be ignored since the manager after meeting such pre-set goals will relax. Again, setting hurdles will also work against the regional executives since different policies affect investments differently according to the given country. Each country has a different inflationary level, lending rate, political stability and other cultures which together or singly affects investments. Setting a uniform hurdle rate is being unfair to countries with unfavourable investment policies. 2 Investing in Lower risk projects will normally be a favourite of the lower division managers since chances of them losing out on the investment is limited. This however, will always come with unfavourably low or unattractive incomes. While this might appear favourable to the managers, it may turn out to be a dislike of the shareholders. Shareholders would want to maximize profits without regards to risks involved, while the managers are more concerned about the risks involved in each venture. Risk is may be defined as the standard difference of return on an investment or portfolio of assets. It is measured using different methods including Value at risk. It helps business men to get prepared for the potentially turbulent market and is quoted in terms of percentage and fixed time horizon (Kwon Joon Chang, 2008). If a 77% one day of value at risk, and the security of 6%. This means that the estimate for the example is that in the next one day, there is 77% chance that the security will not lose more than 6% of its value. The equation may be written as: VaRÃŽ ± = inf{x Ï µ R: P (L > x) ≠¤ 1 – ÃŽ ±} It does not take into account the downside potential in case the portfolio encounters the one percent chance that it exceeds the loss threshold. In other words, once the losses exceed the threshold,

Sunday, October 27, 2019

Business Plan Gold Gym Marketing Essay

Business Plan Gold Gym Marketing Essay Venturing into starting a Franchise is traditionally assured to yield a guaranteed Return of Investment than venturing into a fresh startup entity. Although Franchise itself is a business, it is considered as a way of doing business. It is believed by many that Mr. Albert Singer who was the founder of the Singer sewing machine, was the inventor and founder of the concept franchising. He was one of the earliest person known by most as being associated with the concept; however, the franchising really began long time before and has its roots dating all the way back to the Middle Ages (Blair Lafontaine 2005). As per the definition the work franchising is derived from ancient French which means holding a particular privilege or right. Over the years, franchising business models have been evolved and proven to result in high growth businesses. Although there are various large business entities in UK that offer franchising opportunities, only few business segments result in lucrative ROI. After analysing various business analysis reports and market survey statistics, I have identified fitness and wellness healthcare segment as highly futuristic franchise opportunity considering various factors including my current financial capabilities and business goals. Proposed Business Gold Gym Franchise Objective and Description As a fitness franchise of Gold Gym, we will provide an innovative health care, wellness and fitness services. The modern premises will be equipped with the state of the art fitness equipments and provide facilities such as steam bathing and swimming. The place of the business will be chosen in the heart of the town to provide fitness services to local community, besides outbeating the competition. Market Outline Summary In recent times people are getting more and more health conscious as they are more educated about health hazards involved due to unhealthy lifestyles, establishing a franchise business like Gold Gyms is very profitable as well as it can serve the local customers who want to avoid buying very expensive health equipments in their houses. It can in contributing to the society as healthy lifestyle would ensure less unwell people. As per a recently conducted market survey and the report by the Fitness Industry Association (FIA) and accumulated by leisure fitness market analysts, the UKs fitness and wellness business is a 4 billion GBP revenue industry and is seeing the fastest growth of its 20 year history with many more members eager to avail such services facilities than ever before. The comprehensive audit and the market intelligence report published by FIA covers national overviews of both the public and private sectors. Currently, 15 % of the total UKs population are members of a health club or government-owned fitness services and there is an untapped market potential of around 60% and its growing stably at 3 to 4 per cent an year. Besides this, the increased obesity risk levels are compelling large number of people approach fitness and wellness centres. (Fitness: freebie fitness, 2009) These factors clearly indicate that starting a fitness and wellness club or gym will yield a lucrative revenue and guaranteed profits. However, starting a gym franchise is a better idea rather than starting a own gym because of the following factors: Starting a own gym is very expensive and requires minimum of a million pounds investments because of increased equipment costs and the soaring rates of premises leasing. Building own brand (rather than running a franchise) requires higher upfront investment for marketting and brand building efforts that eventually impacts the customer acquisition rate. Employee training and management orientation is easy in a franchise. Investing in a franchise business is usually safer than venturing into a completely new startup due to proven business strategies. Business Model The primary source of revenue of the proposed business will be earned from the various types of memberships offered to the customers. Ideally the member ships will be offered at a predetermined price which would include certain benefits and services that the customer can avail. As the benefits increase the price of the membership would also increase. In the initial stages of the business, the proposed fitness franchise will earn revenues in the following streams: Membership Types 1. Basic memberships (without trainers) : Pricing will be between  £15 to  £25 and will vary time to time because of special promotional offers. Initially, it is proposed to set at  £15 per month. This would provide accesses to very basic facilities and services, ideally to attract the lower income group of people. 2. Gold memberships (with special guidance from trainers): This special membership pricing will be set between  £25 to  £45 because of seasonal-special offers and initially will be set at  £25 per month. This would include more number of facilities and services, more suitable for customers with a higher disposable income. Apart from the above mentioned standard monthly memberships, we will offer weekly and Pay as you go memberships as well which will target people looking for flexible paying options. Membership Duration Membership pricing will be offered attractive based on the following durations: 1. Monthly membership the payments would be taken on monthly basis 2. Weekly membership this will work on week on week basis 3. Pay and Use membership would be a prepaid service Target Customers Customers of varied types including individuals, groups and businesses will be targeted to acquire strong customer base. It is listed as below: 1. Individuals 2. Family group memberships will be offered at reduced fee pricing. 3. Corporate memberships will be offered at reduced pricing. The proposed membership fee structures and the revenue projections have been described in the Financials and Projections section in the later part of the text below. Competitive Advantage The proposed fitness business centre will offer variety of advantages to outbeat the competition in the market. We will provide special memberships for people undergoing obesity treatment and special price caps to attract different age groups such as 35 to 49 and 28 to 34. Moreover, the proposed fitness centre will be in the heart of each town and within reachable distance from the nearby health services. Gym equipments in the facility will be made up of state of the art technology and will have electronic sensors and displays to accurately measure and monitor physical and health parameters. (More details of the equipments have been described in the Equipments Provision section). Multiple number of steam bath facilities and swimming pool facilities will be provided. Free car parking facility will be provided for limited number of hours. Competition In UK, at present, there are very few (less than 3) fitness chains are available in most places, apart from public facilities and many towns are yet to have a gym with sophisticated equipments and services delivery. Therefore, the competition for Golds Gym franchise is moderate and we have a clearly defined business model and strategy to outbeat the competition. Premises and Equipment The proposed gym premises will house various fitness and wellness facilities. There are mainly two different types of equipments which will be available in the proposed gym, firstly free weights and secondly high-tech machines. Free weights are a simple form of bodybuilding equipment with no real use of technology. They are generally cheaper and more easily available. They consist normally of things like barbells, dumbbells, bars, weight plates etc.   In the proposed gym, we will facilitate and provide the following equipments: The Barbell Which is a long iron bar that is around 4 and 7 feet long on which multiple weight plates can be placed as per the required weight. Weight Plates Weight plates mostly range from 500 gms to 75 kgs. They are usually made of iron as it is a heavy metal. Dum-bells A dumbbell is a shorter form of a barbell, generally 10 15 inches in length. Dumbbell exercises are performed with a dumbbell in each hand. Tricep Bar An oval shaped long bar which has 2 parallel placements for the hand. Although it is commonly called as a tricep bar, one can use it to workout other different parts of the body besides the triceps. EZ Curl Bar It is ideally designed for building the biceps triceps. It is much shorter then a barbell and has angled placements for the hands. It is very useful for building ones muscles from a variety of angles and for reducing the levels of stress (caused by weight) which a straight barbell normally can place on ones wrists. Benches This most common piece of equipment which is seen in every gym. There are mainly 3 different types of benches that are popular flat one, an inclined, and decline. Some high-tech benches are adjustable. Some bespoke benches have the facility of racks on one end which hold a barbell, while some benches dont have any such racks. The Arm-Blaster It is a 2 foot in length and 6 inch in width, very flat, curvy metal bar. It has a strap that goes from back of ones neck to grasp the metal bar is flat from corner to corner of your mid section. It works a lot like a preacher bench by eradicating any body momentum and allows the person using it to isolate the biceps. Stability Ball (Swiss Ball) All exercises that one would ideally do on a bench can also be done on the stability ball. The trainee can do a variety of exercises like bench press, shoulder press, dumbbell flies, lateral raises, pullovers, reverse crunches, so on and so forth. This is one of the best piece of equipment and is very popular with fitness conscious people. Abdominal Bench Is simply just a decline bench that is used for doing exercises that focus on the abdomen. It has rollers that a person can hook their feet into so that the person does not slide off the bench. Chin Up/pull up Bar The chin up or also known as a pull up bar is a iron bar that is either bolted on to a wall or any part of any exercise machine. Pull ups are good for working out the upper back, biceps, and forearms. Dip/Push ups Bars This is a set of two similar parallel bars. Dips is the best exercise for working the upper chest, shoulders, biceps and triceps. Leg Press Machine Most people believe that squats are the best overall exercise to build up the leg muscles. Most of the press machines are set on a 45 degree angle which provides excellent movement of legs. With the leg press the trainee can safely lift weights without having to worry about sliding or falling over. It gives less stress on the lower back which can help people with back problems and knees then squats. The Hack-Squat Machine This is a innovative variation of the traditional and popular barbell squat that is commonly used. This is excellent and very useful for developing the outer muscles of the thighs and for toning up. Leg Extension Machine This machine is ideally suitable for isolating the quadriceps muscles and focusing on leg muscles. Most trainees find this exercise useful for pre-exhausting their quadriceps or for warming up the knee joints (which are normally tight) before proceeding to do squats or leg press exercises. Calf Machines There are mainly 2 different types of calf machines, one is the standing calf raise and second is the seated calf raise. The former raise focuses the upper calf muscles (gastrocnemius) while the later is used to work out the lower calf muscles (soleus). Leg Curl Machine This machine is ideal hamstring exercises which is very popular with athletes. Some gyms nowadays may have a leg extension and leg curl machine built in together into one machine, to maximise utilisation of space Financials: Capital Funds and Budget Plan The capital investment and operational costs of the proposed business is as given below: (1) Short term part-investment: Angel investment of  £25,000 towards franchise fee. This includes employee(includes training and management staff) training and management orientation. Brochures, documents and other books and manuals such as fitness and wellness guides, marketing materials such as standard pamphlets. (2) Short term part-investment: Bank loan of  £30,000 towards premises rental and day to day maintenance for the first 12 months. (3) Short term: Angel investment of  £10,000 towards marketing and promotional expenses. (3) Short term: Bank loan of  £30,000 towards staff costs for first 12 months. Therefore, the capital cost of the business upon starting is  £95,000. This is raised as a combined collective-capital as described above in parts of Angel Investment of  £25,000 and  £10,000 in addition to the  £30,000 of bank loan. Financials: Cash flow and Forecast (Projections) The cash flow for day to day operations for the initial twelve months will be incurred from the capital investment as explained in the above section. As per the projections explained below, the break even point (of  £95,000) is expected to cross in the month of nine from the starting day of the business. Upon achieving the break even the excessive funds (as in the figures below) will be used partly for the operational cost and the rest will be accumulated as retained profits, which is estimated to be approximately  £25,000 (after achieving break even). The proposed membership fee will be between  £5 and  £49 for various services. The average monthly membership fee is proposed to be  £15 to ensure competitive advantage over other fitness centres. As a conservative estimate, the membership is expected to grow at 140% in the initial stages at averagely 25 new members a day. Therefore, the projected earnings over the period of initial 9 months ( £15x £25x £9) is around  £101,250 and the breakeven will be achieved in 7th month of starting the business. In a modern estimate (if promoted through freely available internet and ecommerce services), membership base is expected to grow at 265% in the initial stages and break even can be achieved quickly and steady flow of revenue can be ensured. Financials: Future Expansion Plans The long term investment capital funds of  £450,000 will be raised as mentioned below, to grow the business in steady pace for adding more number of gym equipments with advanced features. More facilities including 247 access to the gym will be offered: The long term investment funds will be raised as given below, (1). Listing the business in AIM-Cash shell list in association with external fund raising companies (Projected to raise around  £200,000). (2). Additional capital will be raised through low end venture capital firms to raise the capital of around  £225,000. The total of  £450,000 will be raised as explained above for expanding and ensuring the organic growth of the business. Marketing and Promotions Strategy In the total of  £10,000 allocated marketing budget the advertisement campaigns within the proposed budget will be carried out in co-operation with the parent Gold Gym entity with and estimated cost of  £3400. The printed pamphlets will be circulated to local community with special-seasonal offers as well as special membership offers. Low cost advertisements will be published for the budget of  £2500 in local community news magazines. Advertisement displays will be considered in the second phase of the business upon reaching breakeven point. Conclusion Fitness and wellness care is becoming essential part of life style. With fast life styles, stress full working conditions, growing competitions and unhealthy eating habits, many people have realised the importance of fitness and health to lead a quality life. More and more people are now keen to improve their fitness levels, some for feel good about themselves, some to look better and feel confident, and some to reduce mental stress levels. The brand of the Gold Gym is a proven and time tested that could result in increased customer base. Over the time gold gym has seen growth and succeeded in providing excellent fitness and health services. The brand name backed by the reputation makes gold gym franchise a low risk business model. In a traditional estimate, the proposed Gold Gym franchise is expected to cross break even in around 7 months and yield steady profits from 8th month onwards. Further to the 8th mark growth opportunities can emerge with market conditions improving disposab le income of individuals getting back to normal levels. After carefull evaluating all financial aspects and growth prospects we can conclude starting the Gold Gym franchise will be a lucrative and profitable business.

Friday, October 25, 2019

Down Syndrome :: chromosome disorders mental retardation

Down Syndrome People with Down syndrome are first and foremost human beings who have recognizable physical characteristics due to the presence of an extra chromosome 21. The estimated incidence of Down syndrome is between 1 in 1,000 to 1 in 1,100 live births. Each year approximately 3,000 to 5,000 children are born with this chromosome disorder. It is believed there are about 250,000 families in the United States who are affected by Down syndrome. Children with Down syndrome are usually smaller, and their physical and mental developments are slower, than youngsters who do not have Down syndrome. The majority of children with Down syndrome function in the mild to moderate range of mental retardation. However, some children are not mentally retarded at all; they may function in the borderline to low average range; others may be severely mentally retarded. There is a wide variation in mental abilities and developmental progress in children with Down syndrome. Also, their motor development is slow; and instead of walking by 12 to 14 months as other children do, children with Down syndrome usually learn to walk between 15 to 36 months. Language development is also markedly delayed. It is important to note that a caring and enriching home environment, early intervention, and integrated education efforts will have a positive influence on the child's development. Although individuals with Down syndrome have distinct physical characteristics, generally they are more similar to the average person in the community than they are different. The physical features are important to the physician in making the clinical diagnosis, but no emphasis should be put on those characteristics otherwise. Not every child with Down syndrome has all the characteristics; some may only have a few, and others may show most of the signs of Down syndrome. Some of the physical features in children with Down syndrome include flattening of the back of the head, slanting of the eyelids, small skin folds at the inner corner of the eyes, depressed nasal bridge, slightly smaller ears, small mouth, decreased muscle tone, loose ligaments, and small hands and feet. About fifty percent of all children have a gap between the first and second toes. The physical features observed in children with Down syndrome usually do not cause any disability in the child. Although many theories have been developed, it is not known what actually causes Down syndrome. It has been known for some time that the risk of having

Thursday, October 24, 2019

Ethnic Diversity Essay

Answer each question in 50 to 150 words. Provide citations for all the sources you use. 1. What is diversity? Why is diversity valued? Diversity is the combination of different races of people, religions, and culture. Diversity is important to constantly grow and learn new ideas that will help our society become a better environment to live in. Diversity is value because it allows us to learn different things that may help up us in life, that our own culture does teach, or provide. 2. What is ethnocentrism? In what ways can ethnocentrism be detrimental to a society? Ethnocentrism is a term that is used to describe the tendency that someone will believe his or her own customs and traditions are better than anyone else’s. It is determined that no culture is perfect, and closing society from the great custom of other cultures does not allow one a chance to solve all problems, and learn what others know that we are custom to disbelieve in. 3. Define emigration and immigration. Emigration is a person leaving a country, and Immigration is a person entering a country. E in Emigration can mean exit, and I in immigration can mean in. Many get these to word mixed up, mainly in ones English or History class as a student. For example the United States are prompt with immigrants with an I, and Mexico are accounted for emigrants with an E. 4. What are some of the ways groups of people are identified? Some ways groups of people are identified are by race or creed, gender, religion, raised by one or both parents, or raised outside of their original family. In addition, American cultural group people by age, until you reach 18, one is considered an adolescent, and when one reaches 21, they are considered an adult. 5. Why do people label and group other people? People label and group other people as a barrier to not be taken by surprise. If a certain Copyright  © 2012 by University of Phoenix. All rights reserved. Diversity Worksheet ETH/125 Version 8 2 person done something wrong, and we see more people like that person doing the same, we now label that entire race of people to be the same. The labeling part works as a defense mechanism to not allow someone that we think is bad or good, take advantage of us or we lock out someone we think can be a good friend. 6. Define culture. Is culture limited to racial and ethnic backgrounds? Explain. Culture is the customs of a group of people, by race, religion, beliefs, and tradition. Culture is not limited to racial and ethnic backgrounds. Because there are many different races that have the same religious culture and traditions. For example Indians, Blacks, Iranians, and I am sure there are others that believe in the Islamic religion, and have the same beliefs and follow the same religion traditions. Copyright  © 2012 by University of Phoenix. All rights reserved.

Wednesday, October 23, 2019

Where Do We Go From Here

His question was birthed from his desperation, because his baby daughter was about to die, she would never experience a prom, or graduate from college. L don't know if she was dying because she was a little black girl who may have been walking in Sanford with skittles and iced tea, or if her music was too loud in Jacksonville, or if she was coming from the corner store in Ferguson†¦ But in the moment of desperation, Jesus heads to the location of his house. I'm glad this evening, that Jesus will stop by the house and come and see about you†¦ It's at the location, that Jesus sets expiration on their mourning. Jesus says, â€Å"The child is not dead. She's only sleeping†.What they considered as fatal, Jesus sees as fruitful. Then Jesus gives her protection by taking her by the hand and saying â€Å"Daughter, Arise†. For the hand of God protects me, it lifts me, comforts me, and secures me! I need his hand. Short Version: 1 . As I close, I can hear Jarvis, the sy nagogue ruler, asking this same question which moved Jesus to the location of his house. And I'm glad this evening, that Jesus will stop by the house and come and see about you†¦ Secures me and it comforts me! Scriptural Reference ; Mark 5: 21 -43 2.The disciples were on a boat in a storm and asked the question to Jesus â€Å"Carets thou not that we perish? † , really meaning â€Å"Where do we go from here? â€Å". The storm is about to over take us, the winds are beating us in the face, the waves are swamping us in the boat and we are about to drown. Lord, â€Å"Where do we go from here? ‘ Jesus goes from where he was asleep to the location where they were afraid. And at this location, he put the wind on expiration. Then gave them protection by saying â€Å"Peace be still†.Scriptural Reference – Mark 4:35-41 Mary and Marsh's brother Lazarus was dead and Martha was furious with Jesus and said, â€Å"If you had been here our brother would not have died†. Her whole world was shattered at the loss Of her only brother. She essentially was crying â€Å"Where do we go from here? † But Jesus arrives at their location, and says show me where you laid him. At that location, Jesus gives expiration to the stone, the very thing that was holding him back and keeping him bound, Jesus tells to them to remove.And finally, Jesus gives him protection by removing the grave clothes from him Scriptural Reference – John 1 1 But I know that on one Friday†¦ From the 6th – 9th hour, Jesus Christ died†¦ The world wondered and pondered, â€Å"Where do we go from here? † , the one that†¦ They put him in a location oaf borrowed tomb all night Friday Then expiration came early on Sunday morning when he got up with all Power in his hands. Because He got up he gives me protection everyday of my life†¦ The blood covers me And now, This calls for a celebration†¦ Where Do We Go From Here His question was birthed from his desperation, because his baby daughter was about to die, she would never experience a prom, or graduate from college. L don't know if she was dying because she was a little black girl who may have been walking in Sanford with skittles and iced tea, or if her music was too loud in Jacksonville, or if she was coming from the corner store in Ferguson†¦ But in the moment of desperation, Jesus heads to the location of his house. I'm glad this evening, that Jesus will stop by the house and come and see about you†¦ It's at the location, that Jesus sets expiration on their mourning. Jesus says, â€Å"The child is not dead. She's only sleeping†.What they considered as fatal, Jesus sees as fruitful. Then Jesus gives her protection by taking her by the hand and saying â€Å"Daughter, Arise†. For the hand of God protects me, it lifts me, comforts me, and secures me! I need his hand. Short Version: 1 . As I close, I can hear Jarvis, the sy nagogue ruler, asking this same question which moved Jesus to the location of his house. And I'm glad this evening, that Jesus will stop by the house and come and see about you†¦ Secures me and it comforts me! Scriptural Reference ; Mark 5: 21 -43 2.The disciples were on a boat in a storm and asked the question to Jesus â€Å"Carets thou not that we perish? † , really meaning â€Å"Where do we go from here? â€Å". The storm is about to over take us, the winds are beating us in the face, the waves are swamping us in the boat and we are about to drown. Lord, â€Å"Where do we go from here? ‘ Jesus goes from where he was asleep to the location where they were afraid. And at this location, he put the wind on expiration. Then gave them protection by saying â€Å"Peace be still†.Scriptural Reference – Mark 4:35-41 Mary and Marsh's brother Lazarus was dead and Martha was furious with Jesus and said, â€Å"If you had been here our brother would not have died†. Her whole world was shattered at the loss Of her only brother. She essentially was crying â€Å"Where do we go from here? † But Jesus arrives at their location, and says show me where you laid him. At that location, Jesus gives expiration to the stone, the very thing that was holding him back and keeping him bound, Jesus tells to them to remove.And finally, Jesus gives him protection by removing the grave clothes from him Scriptural Reference – John 1 1 But I know that on one Friday†¦ From the 6th – 9th hour, Jesus Christ died†¦ The world wondered and pondered, â€Å"Where do we go from here? † , the one that†¦ They put him in a location oaf borrowed tomb all night Friday Then expiration came early on Sunday morning when he got up with all Power in his hands. Because He got up he gives me protection everyday of my life†¦ The blood covers me And now, This calls for a celebration†¦

Tuesday, October 22, 2019

Polarization in the Political System essays

Polarization in the Political System essays Polarization in the Political System On Tuesday, November 14, 1995, in what has been perceived as the years biggest non-event, the federal government shut down all "non-essential" services due to what was, for all intents and purposes, a game of national "chicken" between the House Speaker and the President. And, at an estimated cost of 200 million dollars a day, this dubious battle of dueling egos did not come cheap (Bradsher, 1995, p.16). Why do politicians find it almost congenitally impossible to cooperate? What is it about politics and power that seem to always put them at odds with good government? Indeed, is an effective, well run government even possible given the current adversarial relationship between our two main political parties? It would seem that the exercise of power for its own sake, and a competitive situation in which one side must always oppose the other on any issue, is incompatible with the cooperation and compromise necessary for the government to function. As the United States becomes more extreme in its beliefs in general, group polarization and competition, which requires a mutual exclusivity of goal attainment, will lead to more "showdown" situations in which the goal of good government gives way to political posturing and power-mongering. In this paper I will analyze recent political behavior in terms of two factors: Group behavior with an emphasis on polarization, and competition. However, one should keep in mind that these two factors are interrelated. Group polarization tends to exacerbate inter-group competition by driving any two groups who initially disagree farther apart in their respective views. In turn, a competitive situation in which one side must lose in order for the other to win (and political situations are nearly always competitive), will codify the differences between groups - leading to further extremism ...

Monday, October 21, 2019

The centuries, developments in transportation and communications technologies The WritePass Journal

The centuries, developments in transportation and communications technologies Introduction: The centuries, developments in transportation and communications technologies Introduction:References:Related Introduction: Throughout the centuries, developments in transportation and communications technologies have weakened the barriers of space and time and brought people progressively closer together (Isard, 2005, p.3). Along with the increasing connectedness, the cooperation of international trade, economy, education and cultures also have become integrated, and this progress can be defined as globalization. The economic area perhaps is the most significance symbol of globalization. A well-regulated financial market is the cornerstone of the global economy. As an indispensable part of economic globalization, financial globalization plays a key role in promoting the economic development and stability. According to a number of policies and methods, it could help to raise the growth rate in developing economies through foreign direct investment, risk management, technical assistance and so on. However, the financial globalization not always show the positive effects, financial crisis could leads to pan ic and economic depression, even develop into a disaster. Therefore, global economy can profit from getting a clearly perspective of financial globalization, and to make global economy system work better. This essay describes the increasingly developing period of financial globalization through two significant organizations, and then discusses the benefits of it. For the developing economies, several strategic policy measures and organizations are established to avoid international economic disorder and promote global cooperation. In recent decades, high capital mobility and a great deal of gross international financial flows are the results of the increasingly significant financial globalization, especially in the developing economies (Obadan, 2006, p.317). In this aspect, private capital flows to developing countries increased dramatically from US ï ¼â€ž62 billion in 1991 to almost USï ¼â€ž226 billion in 2000, and falling to USï ¼â€ž160 billion in 2001(World Bank, 2002, p.32). Also, according to Obadan (2006, p.317), â€Å"between 1997 and 2000, cross-border capital flows increased from less than 3% of GDP to 17% for advanced economies and from virtually nothing to about 5% for developing economies†. The International Bank for Reconstruction and Development (the World Bank) and the International Monetary Fund (IMF) are two main or ganizations, which promote global cooperation and avoid international economic disorder. The World Bank was established to finance economic reconstruction and development. The IMF has four purposes first of all, it promotes international monetary cooperation. it also facilitates the expansion of international trade. To be specific, the IMF creates employment opportunities, improves real income and develops the productive resources. Thirdly, it maintains an orderly exchange rate system. Lastly, the IMF makes some financial resources available to members to decrease the balance of payment adjustment (Isard, 2005, p.69). Until now, there are 187 countries participated in this organization to promote international monetary cooperation (IMF, 2011). Financial globalization boosts the economic development through economic reforms and financial liberalization and capital markets able to access private global capital markets. The increasing trans-border financial flows through various channels contribute to integrate the financial markets into a global whole. And a myriad of benefits come from the development of global financial integration. One benefit of financial globalization, for the developing countries, is improving access provides a rich source of capital at a lower cost. And abundant capital makes increase potentially productive and creditworthy projects available (Das, 2010, p.100). Take the emerging-market economies (EMES) as an example, EMES are able to provide more cheaper loans than main lending markets. Secondly, the advanced industrial economies not only can get higher rates of return due to the cheaper loan interest rate, but also can diversify risk by investing in the EMES. Thirdly, a growing number of branches of financial institutions, which come from advanced industrial economies, improve the level of efficiency of local institutions with the increasingly fierce competition (Das, 2010, p.101). Fourthly, governments also profit from the competition. The authorities learn the value of market discipline and pay for the policy mistakes and establish new macroeconomic policy discipline (Das, 2010, p. xvii). As an inevitable part of financial globalization, the global financial crisis showed the huge negative effects on world’s economies. Past episodes of financial globalization were all success cases for contributing to financial stability and supporting high growth of economy, yet they all meet the crises. On 15 September 2008, Lehman Brothers, which was the fourth largest investment bank in the USA, declared bankruptcy, and this lead to the financial crisis spilled over globally (Das, 2010, p.127). The bankruptcy of this excellent investment bank shocked the financial world, causing panic in the global financial system. At this point, a great deal of the world’s largest banks were short of money, even some of them were near collapsed. However, why the current crisis happened so suddenly after more than 15 years of successful growth of the global economy? One major course of this financial crisis was the built-up of risk. Some banks and financial institutions over puddle the sub-prime mortgage because of greedy, even they lent money to some people who had problems repaying the loans. This lead to excessive risk was built-up in the global financial system for a long time, and this bubble burst until the risk was too high to afford (Das, 2010, p.132). With the financial cooperation closer and closer, this current crisis was widespread. According to IMF (2009), there were 78 countries recorded negative GDP growth in 2009. More and more economies realized that this crisis was totally a disaster of global economy, and they started to look for some measures to deal with it. Global crisis requires a global solution, for this reason, many countries and economies worked together to solve problems. For instance, Chinese government and American Government provided $ 600 billion and $ 700 billion separately to stimulate economic development. On the other hand, the IMF and the World Bank published a series of polices and provided much cheaper loans to encourage economic recovery immediately. Obviously, financial globalization plays a key role in economic globalization, and boosts the economic development. It leads to high capital mobility and a large volume of international financial flows. Financial globalization results in several benefits on the economic growth.   It also shows some negative effect on the global economy simultaneously, particularly the serious financial crises. However, the key challenge is not to resolve whether the advantages outweigh the disadvantages but to find effective measures to address the problems, which are caused by the financial globalization, to make the process of financial globalization work better (Isard, 2005, p.6). References: Das, D. K., 2010. Financial globalization: growth, integration, innovation and crisis. London: Palgrave Macmillan. International Monetary Fund, 2009. World Economic Outlook. Washington. DC. April. International Monetary Fund, 2011. About the IMF. (Updated 23 May 2011) Available at: [Accessed 24 May 2011]. Isard, P., 2005. Globalization and the International Financial System. Cambridge: Cambridge University Press. Obadan, M.I., 2006. Globalization of finance and the challenge of national financial sector development. Journal of Asia Economics. 17, pp.316-332. World Bank, 2002. World development indicators. Washington, DC: The World Bank.

Sunday, October 20, 2019

Profile of Death Row Inmate Brenda Andrew

Profile of Death Row Inmate Brenda Andrew Brenda Evers Andrew is on death row in Oklahoma for the murder of her husband, Robert Andrew. Brenda Andrew and her lover killed her husband to collect on his life insurance policy after she had tired of the marriage and had several affairs. The Childhood Years Brenda Evers, born on Dec. 16, 1963, grew up in a quiet home in Enid, Oklahoma. The Evers family were devout Christians who enjoyed gathering for family meals, holding group prayers,  and living a quiet life. Brenda was a good student, always earning above-average grades. As she got older, friends remembered her as shy and quiet, spending much of her spare time at church and helping others. In junior high school, Brenda took up baton twirling and attended local football games, but unlike her friends, when the games ended she skipped all the parties and went home. Rob and Brenda Meet Rob Andrew was at Oklahoma State University when he met Brenda, then a high school senior, through his younger brother. They began seeing each other and almost immediately started dating exclusively. After graduating from high school, Brenda attended college in Winfield, Kansas, but left a year later and moved to OSU in Stillwater so that she and Rob could be closer. They married on June 2, 1984. They lived in Oklahoma City until Rob accepted a position in Texas and they relocated. After a few years, Rob wanted to return to Oklahoma, but Brenda was happy with their life in Texas. She had a job that she liked and had formed solid friendships. Their marriage became strained when Rob informed her that he had accepted a job with an Oklahoma City ad agency. Rob returned to Oklahoma City, but Brenda decided to stay in Texas. They remained separated for a few months before Brenda decided to move to Oklahoma. Stay-at-Home Mom On Dec. 23, 1990, the Andrews had their first child, Tricity, and Brenda became a stay-at-home mom, leaving her job and work pals behind. Four years later, their second child, Parker, was born, but by then Rob and Brendas marriage was in trouble. Rob began confiding to his friends and pastor about his failing marriage. Friends later testified that Brenda was verbally abusive to Rob, often telling him that she hated him and that their marriage was a mistake. By 1994, Brenda seemed to have gone through a transformation. The once shy, conservative woman had stopped wearing her shirts buttoned to the neck in exchange for a more provocative look that was usually tight, short, and revealing. A Friend's Husband In October 1997, Brenda began an affair with Rick Nunley, the husband of a friend she had worked with at an Oklahoma bank. According to Nunley, the affair lasted until the following spring, although they continued to stay in contact by phone. The Guy at the Grocery Store In 1999, James Higgins, married and working at a grocery store, met Brenda. He later testified that Brenda showed up at the store in low-cut tops and short skirts and they flirted with each other. One day, she handed Higgins a key to a hotel room and told him to meet her there. The affair continued until May 2001, when she told him, it wasnt fun anymore. They remained friends, and Higgins was hired to do house renovations for the Andrews. The Sunday School Affair The Andrews and James Pavatt met while attending the North Pointe Baptist Church, where Brenda and Pavatt taught Sunday school classes. Pavatt became friends with Rob and spent time with the Andrews and their children at their home. He was a life insurance agent, and in mid-2001 he helped Rob set up a life insurance policy worth $800,000, naming Brenda as the sole beneficiary. Around the same time, Brenda and Pavatt began having an affair. They did little to hide it, even while at church, and were told that they were no longer needed as Sunday school teachers. By the following summer, Pavatt had divorced his wife, Suk Hui. In October Brenda filed for divorce from Rob, who had already moved out of their home. Who Cut the Brake Lines? Once the divorce papers were filed, Brenda became more vocal about her disdain for her estranged husband. She told friends that she hated Rob and wished that he was dead. On Oct. 26, 2001, someone severed the brake lines on Robs car. The next morning, Pavatt and Brenda concocted a false emergency, apparently in hopes that Rob would have a traffic accident. According to Janna Larson, Pavatts daughter, Pavatt persuaded her to call Rob Andrew from an untraceable phone and claim that Brenda was in a hospital in Norman, Oklahoma, and needed him immediately. An unknown male called Rob that morning with the same news. The plan failed. Rob had discovered that his brake lines had been cut before receiving the calls. He met with the police and told them that he suspected that his wife and Pavatt were trying to kill him for the insurance money. The Insurance Policy After the incident with his brake lines, Rob decided to make his brother the beneficiary of his insurance policy instead of Brenda. Pavatt found out and told Rob that he couldnt change the policy because Brenda owned it. Rob then called Pavatts supervisor, who assured him that he was the owner of the policy. Rob told the supervisor that he thought Pavatt and his wife were trying to kill him. When Pavatt found out that Rob had spoken to his boss, he went into a rage and warned Rob not to try to get him fired from his job. It was later discovered that Brenda and Pavatt had attempted to transfer ownership of the insurance policy to Brenda without Robs knowledge by forging his signature and backdating it to March 2001. Thanksgiving Holiday On Nov. 20, 2001, Rob went to pick up his children for the Thanksgiving holiday. It was his turn to be with the kids. According to Brenda, she met Rob in the driveway and asked if he would come in and light the pilot on the furnace. Prosecutors believe that when Rob bent down to light the furnace, Pavatt shot him once, then handed Brenda the 16-gauge shotgun. She took the second shot, ending 39-year-old Rob Andrews life. Pavatt then shot Brenda in the arm with a .22-caliber handgun to help cover up the crime. Two Masked Men Brenda told police that two armed, masked men dressed in black had attacked Rob in the garage and shot him, then shot her in her arm as she ran away. The Andrews children were found in a bedroom watching television with the volume turned up very high. They had no idea what had happened. Investigators also noted that it didnt appear they were packed and ready to spend the weekend with their father. Brenda was taken to a hospital and treated for what was described as a superficial wound. The Investigation Investigators were told that Rob owned a 16-gauge shotgun but that Brenda had refused to let him have it when he moved out. They searched the Andrews home but didnt find the shotgun. A search of the Andrews next-door neighbors home revealed that someone had entered the attic through an opening in a bedroom closet. A spent 16-gauge shotgun shell was found on the bedroom floor, and several .22-caliber bullets were found in the attic. There were no signs of forced entry. The neighbors were out of town when the murder took place  but left Brenda a key to their house. The shotgun shell found in the neighbors home was the same brand and gauge as the shell found in the Andrews garage. On the day of the murder, Pavatts daughter Janna had lent her car to her father after he offered to have it serviced. When he returned it the morning after the murder, the car hadnt been serviced, and his daughter found a .22-caliber bullet on the floorboard. Pavatt told her to throw it away. The .22-caliber round found in Jannas car was the same brand as the three .22-caliber rounds found in the neighbors attic. Investigators also learned that Pavatt had purchased a handgun the week before the murder. On the Run Instead of attending Robs funeral, Brenda, her two children, and Pavatt took off to Mexico. Pavatt called his daughter repeatedly from Mexico, asking her to send them money, unaware that she was cooperating with the FBIs investigation into the murder. In late February 2002, having run out of money, Pavatt and Brenda re-entered the United States and were arrested in Hidalgo, Texas. The following month they were extradited to Oklahoma City. Trials and Sentencing James Pavatt and Brenda Andrew were charged with first-degree murder and conspiracy to commit first-degree murder. In separate trials, they were found guilty and received death sentences. Brenda never showed remorse for her part in murdering her husband and has claimed that she is innocent. On the day that she was formally sentenced, she looked directly at Oklahoma County District Judge Susan Bragg and said that the verdict and sentence were an egregious miscarriage of justice, and she was going to fight until she was vindicated. On June 21, 2007, Brendas appeal was denied by the Oklahoma Court of Criminal Appeals on a 4-1 vote.  Judge Charles Chapel agreed with Andrews arguments that some of the testimony shouldnt have been allowed during her trial.   On April 15, 2008, the  U.S. Supreme Court rejected without comment on Andrews appeal of the appeals courts decision upholding her conviction and sentence. As of November 2018, she was in the  Mabel  Bassett  Correctional  Center  in  McLoud, Oklahoma.

Saturday, October 19, 2019

Feminist Criticism on A Dolls House Essay Example | Topics and Well Written Essays - 1250 words

Feminist Criticism on A Dolls House - Essay Example ne analysis of this book, it is notable that Ibsen exposes the suppressive tendencies of a traditional society over a woman and her subsequent struggle at defining her individuality In its immediate impression, Torvald Helmer’s house cannot be described as misogynistic. There is a sense of tranquility that occurs in the house. A superficial judgment may describe Helmer’s marriage as peaceful. Helmer, however, manages the tranquility of the house by suppressing conflicts that may emerge out of Nora’s individuality. It is crucial to highlight that conflicts are essential for comprehensive development of a society. In this sense, conflicts are normal occurrences that help individuals shape better lives for themselves. A household, therefore, that appears not to have conflicts thrives on the suppression of a certain party. In the Helmer’s household, peace only occurs because of Nora’s insolence over matters that affect her wellbeing. The construction of woman in Ibsen’s society is one who is dependent on the husband for her own identity. This exposes a social lie that dominates the 19th century’s household. Nora is the adored beloved wife of Torvald Helmer. On the other hand, Torvald is a rigidly honest and admirable man of stringent moral ideals. Besides, he passionately dedicates his life to his family. According to such a society, he is an enviable husband and, consequently, a good man. Nora, while relying on her societal expectations, believes that she is a fortunate woman to have found husband as modest as Helmer. For a considerable period in her lifetime, Nora does not evaluate the value of her own life. In Nora’s eagerness to serve her husband, she illegally borrows money to take her husband to Italy. Thereafter, she struggles to pay the loan without the husband’s knowledge. Although she has no job, she saves every penny to repay the huge loan. Nora strives to uphold the name o f her family at the cost of her happiness. In this perspective,

Friday, October 18, 2019

OHSA Fall Prevention Essay Example | Topics and Well Written Essays - 1250 words

OHSA Fall Prevention - Essay Example After an upsurge in 2007, fatal work accidents were trimmed by 20% down in the following year, according to the Bureau of Labor Statistics (OSHA, 2008). Nevertheless, fall-related occupational deaths are still the major cause of job-related accidents, accounting for about 8% of occupational fatalities. Working at more than 4 feet height poses risks of falling to workers, especially, to those who work in building constructions (OSHA, 2008). Regardless of the falling height, industrial and construction workers must be protected from fall. This paper presented that the key step in the prevention of fall or any work-related injury is the identification and elimination of hazards. Any worker, exposed to fall hazards, is at risk to trauma or death. In industrial works, construction workers are more prone to fall accidents. Fall hazards in construction sites are primarily due to falling debris and elevated working area. Stairways and ladders, for instance, are frequent cause of trauma and fatality among construction workers. Annually, based on OSHA estimates, about 25,000 injuries and around 36 fatalities are recorded from stairway and ladder fall accidents (NC-DOL, 2008). Many of these accidents, on the basis of the assessment, could have prevented if the construction firm has complied with the OSHA safety requirements. Thus, OSHA rules cover every stairway and ladder used in the construction or industrial works, including their repair, structure, and decoration. OSHA also specifies the technical properties, designs, and manufacture of stairway and ladder appropriate for industrial works. Fall accidents may also involve leading edges and floor holes. Still, fa ll may occur on the same level due to tripping and slipping hazards. As mentioned earlier, the effective prevention of falls necessitates the identification and immediate control of fall hazards. This requires the collaborative effort of engineering, safety, estimating, and production personnel,

Russian Relationship with US Essay Example | Topics and Well Written Essays - 1500 words

Russian Relationship with US - Essay Example The difference in ideologies was also expressed in the foreign polices that each advocated for. While America was advocating for democracy in the word, Russia was advocating for socialism ideologies. There were a lot of differences in the interventions that the two countries carried out in the world. For example in Korea, America and Russia entered in the differences that were emerging between two sides in the country and they successful saw the splitting of the country into North and South Korea, a division which remains to date. America supported South Korea while Russia supported North Korea. Throughout the period of the cold war, the two countries took stand on opposing sides in any conflict with each asserting its force in order to emerge as the winner and have majority following. Their foreign policies had split the world to capitalist and socialist blocs in all the continents. However towards the end of 1980s, the fall of the Berlin wall was one of the sign that marked the end of the cold war. This brought about a new world order in which the United States was the only superpower in the world. It created a unipolar world where the United States influenced every decision made and tried to monitor all what was happening in the world especially thorough the control of the international bodies like the UN. At the same time there have been emerging centers of power in other regions like China and the re-emergence of Russia has been witnessed in the recent past. Current relationship between the two countries Currently there has been emerging differences between the two countries. Russia has been coming back slowly to its former status in the world which is seen as the start of a new cold war era. Although the world has remained the same as before, this time it is more complicated with other emerging centers of power like China which has been having a troubled relationship with the US. The relationship between Russia and the USA has been quite since the end of the cold war but of late it has been deteriorating. This difference has been expressed by the foreign policies that these countries have towards the other. There has been a trend in the way the two countries choose their friends and partners. While Russia has been taking one side with China, US have been on the other side with UK and other European allies. What American consider as "rogue states" or "axis of evil" are what Russia consider as friends. The difference in their ideoligies has been one of the factors that have been dictating their foreign polices towards each other and towards the world. For example, Russia's foreign policy towards Iran is very different from the foreign policy of US. While Russia advocates for dialogue and involvement of the international bodies for arbitration, the USA has been advocating for military factor in the nuclear conflict. Both countries have been advancing differences on the status of Iran and the accusation of development of weapons of mass destruction. (John 1998, 1) The foreign policy of the two countries Though the main battle between the two states has been fought on the UN security council using their veto power, the difference in their foreign policy has been expressed in the open and has been degraded to a mere exchange of harsh words and criticisms. While the US accuses Russia of using its energy policy as a foreign

Ethics in sports administration Assignment Example | Topics and Well Written Essays - 250 words

Ethics in sports administration - Assignment Example The application of ethical practices has broader impacts in sports. Players adopting ethical practices would directly serve the cause of competitive environment within the sporting activities. The related members such as referees would be better equipped to make proper sporting and judgmental decisions; the fans would enjoy the true competition among and between different players; and the coach will see its efforts bearing true fruit. The paper provides a research question that what are ethical responsibilities of players? The main reason for selecting this research question is that on a ground, all other members play their respective role due to players sporting activities. The paper proposes that ethical practices promote sporting competence and improve performance of players. Here, an independent variable is sporting competence and sporting performance is a dependent variable. There is no significant difference between whether a player is coming at the middle order level or lower middle level is an example of null hypothesis. And, ranking and performance are independent and dependent variables respectively of null

Thursday, October 17, 2019

Case Study Essay Example | Topics and Well Written Essays - 500 words - 6

Case Study - Essay Example An instant EHR access also permits many doctors to be referencing the chart concurrently. Similar EHR systems provide physicians delivering enhanced quality of medical care adopting the â€Å"Intergy HER† as all measures and instructions that are recorded are capable to be checked and confirmed to be proper for the deliberated intention thus lessening the scope of mistakes. The physicians, through the implementation of same HER system are trying to reduce the healthcare costs of the patients. It has been researched that the physicians adapting Intergy EHR are much more proficient at providing medical support as repetition is possible to be minimized. The quick reference to the HER system is important in the case of diagnostic procedures like blood reports, x-rays, ultrasounds etc. that are usually re-conducted since the preceding outcomes are not available to simply â€Å"retrieved, reviewed or compared.† The EHR permits a physician to have access to all investigative results, images etc. at any point of time, as a result eliminating the scope of duplication. The EHR system also sends electronically the information recorded to the hospitals billing system enabling precise data to be recorded in the clinic’s billing system consequently dropping the instances of claim rejections by the insurance company due to missing data. The EHR solution provides physicians with the capability to record clinical information related to a patient efficiently with less errors and lapse at the point of care. Patients are capable to have access with their whole medical history obtainable to physicians and clinicians at anytime devoid of the requirement to physically locate and recover documented medical records. There is a struggle involved in maintaining the nonverbal communication, specifically eye contact and lulls in conversation while documenting the appointment in an EHR. EHR is known to be distracting. There

Answer brief question about budhism Essay Example | Topics and Well Written Essays - 500 words

Answer brief question about budhism - Essay Example Although I agree that the states of nirodha and nirvana relieve one of all tensions, yet these states are only myths for individuals who are in their senses, and are thus unattainable in the real sense. Likewise, the concept of a path in which there is no suffering at all is false. Concluding, I feel that all truths are objectionable except for the second one. 2. Ans. Budda is thought of as Vishnu’s Avatar in Hinduism. Bhagavata Purana considers Buddha as the 24th avatar, and says that Buddha prefigures the last incarnation. Likewise, many Hindus consider Buddha as the 9th avatar. I disagree with the belief that Buddha is similar to a Hindu god in figure. Affiliating the figure of Buddha with the Hindu god is a viewpoint that tries to merge Buddhism into Hinduism, whereas the two are totally different religions in reality. The teachings of the Buddha deny Veda’s authority. 3. Ans. Symbols in Buddhism are meaningful. They represent certain concepts and convey certain mes sages. Quite often, symbols boost the communication and enhance the conveyance of concepts. â€Å"â€Å"Mandala,† a Sanskrit word literally meaning, â€Å"a circle and surroundings,† is a universal symbol of enlightenment for both the viewer and the artist† (Webster University). Mandala is of a huge significance in the Buddhists’ worship.

Wednesday, October 16, 2019

Case Study Essay Example | Topics and Well Written Essays - 500 words - 6

Case Study - Essay Example An instant EHR access also permits many doctors to be referencing the chart concurrently. Similar EHR systems provide physicians delivering enhanced quality of medical care adopting the â€Å"Intergy HER† as all measures and instructions that are recorded are capable to be checked and confirmed to be proper for the deliberated intention thus lessening the scope of mistakes. The physicians, through the implementation of same HER system are trying to reduce the healthcare costs of the patients. It has been researched that the physicians adapting Intergy EHR are much more proficient at providing medical support as repetition is possible to be minimized. The quick reference to the HER system is important in the case of diagnostic procedures like blood reports, x-rays, ultrasounds etc. that are usually re-conducted since the preceding outcomes are not available to simply â€Å"retrieved, reviewed or compared.† The EHR permits a physician to have access to all investigative results, images etc. at any point of time, as a result eliminating the scope of duplication. The EHR system also sends electronically the information recorded to the hospitals billing system enabling precise data to be recorded in the clinic’s billing system consequently dropping the instances of claim rejections by the insurance company due to missing data. The EHR solution provides physicians with the capability to record clinical information related to a patient efficiently with less errors and lapse at the point of care. Patients are capable to have access with their whole medical history obtainable to physicians and clinicians at anytime devoid of the requirement to physically locate and recover documented medical records. There is a struggle involved in maintaining the nonverbal communication, specifically eye contact and lulls in conversation while documenting the appointment in an EHR. EHR is known to be distracting. There

Tuesday, October 15, 2019

Argue for or against identifying one's race or cultural identify on Essay

Argue for or against identifying one's race or cultural identify on documents such as census forms, college applications, studen - Essay Example The truth is, the concept of race has been a damaging concept within Western society and the way in which we define race is an irrational foundation for the different experiences that people have within the United States. Therefore, the concept of indicating a ‘race’ on a public form such as a census form, college application, student loan, or scholarship application is a continuation of an antiquated and unenlightened form of thinking which depreciates the overall value of society. The basis for defining race is founded on the color of skin. There are a variety of other factors that contribute to creating indicators of race, but the basic concept is defined by the color of a person’s skin. In an expanded capacity, the color of the skin is then combined with physical attributes that are associated with regional ethnic markers that create physically similar characteristics. From the point of view of social standing, race is further defined by similar ancestral back grounds, such as African founded heritages that form the group that is called African American, or Black. However, race is a complicated concept because of the multi-racial aspects of heritage that make up the history of most people within the United States. Therefore, because a skin color appears to be of one race or another, that becomes the founding principal on which race is determined.

Monday, October 14, 2019

Destruction of our environment

Destruction of our environment Deforestation Issues in Brazil In recent years one of the biggest threats the world as a whole faces is the destruction of our environment. The destruction of the Brazilian rainforest is probably the most important issue that should be taken into consideration because it is the cause of other major ecological problems we are facing such as: global warming, the depletion of our ozone layer, and noticeable climate changes around the world. Brazils deforestation problem has turned into earths deforestation problem. Experts say that not too long ago 14 % of the earth was covered with rainforests. Today only 6% remains and everybody focuses their attention on Brazil because 30% of the remaining rainforests are found in that country (Rain-tree). Deforestation is so dangerous because much of the carbon dioxide that all countries produce is turned into oxygen in the rainforest through the process of photosynthesis. Experts say that 20% of the earths oxygen is produced in the Brazilian rainforest. It is estimated that 90% of all animal and plant species live in the Brazilian rainforest so extinction is another major issue (Rain-tree). The money that deforestation brings to the Brazilian government is a huge motivator since it is a developing country. There are several ways and reasons for which rainforests are destroyed. The major cause of deforestation is logging. The forest is most valuable for its timber so its preservation would cost a lot of money. Commercial loggers destroy huge parts of the forest to reach the trees they want. Trees are brought down and along with them their vines and lianas, which are connected to other trees. When these come down, along come large canopies of green formed above the ground by these vines and lianas. The removal of the trunks cause extra damage since they are carelessly pulled out of the rainforest, destroying and damaging anything in their path. The large machinery compacts the fragile soil with their large tracts, making it very difficult to regenerate. Noise pollution and the destruction of the zone frighten animals living in the area, making them flee to other parts. Commercial loggers make roads to reach other parts of the forest easier. A road connecting point A to point B will disru pt plant and animal life anywhere near it. The roads are then used continuously and animals are forced elsewhere. What most hurts the forest about logging is local people without land that build their homes next to these roads, they are called ‘shifted cultivators (Hect 115). Shifted cultivators usually result when peasants land is ‘stolen by the government because large corporations or companies unjustfully buy the land. These ‘land less people then build their homes inside the rainforest and plant food in order to survive. The Brazilian government blames these people for 60% of the deforestation (Hect 210). In Brazil over 40% of land that is good for cultivating is owned by only 1% of the population (212). Another major cause of the deforestation problem is agriculture. When areas of rainforest are destroyed, ranchers or crop growers move in and clear the entire area. Cattle grazing is very common. Ranchers move in with their livestock and use it to graze until the land is completely barren and stripped of nutrients. After destroying a section, they simply move to a different area and repeat the process. Crops that are grown on rainforest land bring the same consequence; barren, unfertile soil. The problem results when farmers plant crops on the land and begin using pesticides and machinery on the soil. The pesticides alone cause extreme damage to the rainforest. After cultivating their crops farmers leave the useless land and, like the ranchers, move to a different area. These are the major causes for the rainforest destruction but there are many more. Mining in the forest is also a contributor because of large machinery that disrupts life in the area, moves native tribes elsewhere and contaminates the air. For example, Brazil built several hydroelectric dams because they feared an energy shortage. Large sections of the rainforest were cleared to build the dams. This caused erosion problems around the area and animals and tribes living close to the dams had to move. The dams caused several water borne diseases that contaminated the area. According to a World Bank report, Brazil had enough energy to supply to its entire people without having to have had built any of the dams (Causes ). Practices like these, which bring in quick money but leave irreparable damage are drastically reducing the rainforests size. An example of this is how the Atlantic coastline of Brazil has been reduced to 1.7 % of its original state because of cattle grazing (Rain-tree). Experts estimate that in one day 137 plant, insect, and animal species become extinct, equating to 50,000 species each year (Rain-tree). 2.5 acres of rainforest can be the home of over 750 different trees, while a single pond in Brazil can hold more fishes than all of the rivers in Europe (Rain-tree). It is hard to imagine but the Brazilian rainforests has about 3,000 different types of fruits, when only 200 of these are used in the Western World (Hect 110). Rainforests contain half of all animal species living on earth (Rain-tree). Because of human intervention in these rainforests animal species are disappearing about 1000 times faster than they would on their own natural rate. When one species disappears the whole ecosystem is changed and other species that depended upon the first begin to die out until they also become extinct. This chain reaction has wiped out thousands of different species of animals. Most indigenous people living in the rainforest depend on the animals for food and some are believed to be sacred because they are part of their beliefs. When species become getting extinct these peoples lives are affected tremendously. Clear cutting, mining, and dam building are all form of intervention that result in endangered species. The introduction of foreign species into the rainforest further develops the problem since this throws the ecosystem off balance and the different species struggle to fit in, sometimes by killing off others. The poaching of wild animals in the rainforest is another major problem. Furs and exotic birds are very popular among richer countries. Poaching has become more and more common and the extinction rates sore higher each year. Because of economic necessity most poor families living in the rainforest recur to this act by setting traps and capturing animals that are popular on the international market. Animals are sold for very low prices and resold in other countries for much more higher prices. International wildlife trading is a business that makes between 2 3 billion dollars a year so one can see why many local Brazilian people are tempted into it (Rain-tree). Extinction does not only affect animals. Each year thousands of plants in the rainforest become extinct. One fourth of our pharmaceutical medicines in the Western world come from the rainforest. Local people in Brazil use rainforests plants medicinal values greatly. Most indigenous tribes use plants as medicine. Examples of the importance of these plants: Over 70 percent of the plants which are attributed to having anti-cancer properties are found in the rainforest (Hect 139). Unfortunately the Madagascar Periwinkle, a rainforest plant, increased the chances of survival for children with leukemia from 20 percent to 80 percent (Rain-tree). This equates to 8 out of 10 children who are now living thanks to the properties of a single plant found in the rainforest. The Madagascar Periwinkle is now extinct in the wild because of deforestation. The sale of medicines that are plant-based topped 40 billion dollars in 1996 in the United Sates alone (Rain-tree). Forests are destroyed by the second and very few, only 1 percent, of the plants are tested for medicinal properties. Scientists believe that if a cure for AIDS exists it is probably hiding in some rainforest plant (Rain-tree). Most of the plants that are know to have medicinal properties were discovered by indigenous people who have been using them for years in the rainforest. Another major problem is that shamans, or medicine men, who have hundreds of ingredients to plant properties are very elder and if that person dies without passing his knowledge to younger generations everything he knows is lost. As if the extinction of plants and animals were not enough, deforestation has been the cause of many indigenous tribes living in the rainforest to be ‘wiped out. From over 6 million indigenous people inhabiting the rainforest of Brazil in 1500, only 250,000 still exist today (). Mining, ranchers, corporations among others have quickly been killing off tribes in a gruel fight for territory and interest. There are dozens of different tribes living in Brazil. Each with different customs and traditions but they all share certain characteristics. They are all dependent upon the Brazilian rainforest to survive. They kill wild game for food, live in small areas in the forest planting crops for food and live very secluded from ‘civilization and the rest of the world. Indigenous tribes have taught us that earth and man can live in peace. Not only are they threatened by outsiders interested in the land but by their younger generations who move out to the city and thus, lose the val uable information that the elders want to pass on, especially medicinal values of plants found in the rainforest. Indigenous people usually lose their land when they are moved because ranchers, miners, or logging companies decide they would like to purchase the territory. The intruders usually begin ‘slashing and ‘burning the territory they want and expect any tribe nearby to move to a different location. Many times the military is called in and the tribes are forced out of their land. Their human rights are usually ignored by the government and invasion of territory usually end up in bloody conflicts with the ‘intruders. These people depend on the rainforest to survive. The problem, as can be seen, is not only dangerous on a national level but worldwide. Another of these major ecological problems whose main cause is deforestation is global warming. Let us examine how global warning occurs: the sun releases heat which is absorbed into earths atmosphere. Earth then returns some of that heat in the form of radiation waves, part of the heat is absorbed by gases in the earth such as carbon dioxide and methane. This process keeps the earth warm. Trees absorb the carbon dioxide and through the process of photosynthesis convert it to oxygen. As we keep reducing the size of our rainforests, which are responsible for 20% of the oxygen produced in earth and as we keep releasing more and more ‘greenhouse gases, which are carbon dioxide, methane, chlorofluorocarbons, and nitrous oxide into out atmosphere each year, the ecosystem is thrown off balance. These gases make earths climate warmer each year and so produce global warming (Global Warming). Global warming could bring catastrophic results to the planet in general. Sea levels would rise, causing an ecosystem unbalance plus the relocation of people living near the coasts. Countless animals and plants that would become extinct because of climate change. Species would have to migrate elsewhere causing unbalance in their lives. Agriculture would be affected tremendously since climate would change throughout the world, causing serious droughts and floods that would cost billions of dollars a year in lost revenue. Above the earth is a thin layer that helps keep atmospheric gases inside earth and acts as a shield from harmful rays emitted by the sun. The greenhouses gases mentioned above are deteriorating this protective layer, they are burning holes in it which permit the suns rays to enter our atmosphere easily. The sun rays that are entering the atmosphere are so strong that they act as radiation hitting us everyday. Skin cancer is becoming more and more common in recent years because of the ultraviolet rays that enter through the depleted ozone layer. People suffering from respiratory illnesses such as asthma are also on the rise, because of the high levels of pollution we are suffering from large cities. ‘Why keep destroying? you might ask, after reading all the negative effects deforestation might produce. The answer can be given in one word: money. Brazil is a country that is in a stage of development and deforestation is the main source of revenue. Logging is extremely profitable for companies. The wood is used to make furniture, materials, and other wood products. Charcoal comes from the rainforest as well as paper. The United States, Great Britain, Belgium, and Japan are the biggest ‘customers (Solutions). Another sad thing about this is that these companies pay extremely low prices per acre and making billions in profits. The government is selling their property for prices incredibly low prices compared to the amount other countries are making off them. On the other hand, if Brazil was not selling the rainforest then it would have very little, if any, source of revenue. Many economists say that the destruction of the rainforest is inevitable and only ‘natural. Brazil needs more ‘room for its people since the population keeps increasing each year according to them. Economists also argue that if Brazil was n ot selling its rainforest then the country would be sunk in extreme poverty, crime, and they argue that we would still be losing it. According to Bjorn Lomborg, author of The Skeptical Environmentalist, everything we are fed by the media about the problem of deforestation is a lie. Bjorn states that pessimist news sells so therefore the media exaggerates the truth greatly. According to him the rainforests are not disappearing as fast as we think and the problem is not ominous. â€Å"80 percent of the original forest cover is still in place then just about 20 percent of all tropical forests have disappeared† (Lomborg 114). On the issue of global warming Bjorn presents interesting information. According to the author â€Å"plants produce oxygen by means of photosynthesis, but when they die and decompose, precisely the same amount of oxygen is consumed† (115). Trees neither produce or consume oxygen according to his hypothesis since it is an equal distribution of give and take. He criticizes disinformation presented by other sources because according to him they have no grounds or bases for their allegations. In his book, he reminds us of when President Carter warned us that we would have very little, if any, rainforest by the year 2000 in his Global 2000 environmental report (113). Rapid destruction or slow destruction of our planets rainforests the problem is there. There are many things we all can do in order to protect our forests from further deforestation. According to experts the rainforest will yield more profits if it is used for its fruits, nuts, oil and medicinal plants than if it is destroyed now for short term gains. The labeling of timber to be sold would be a giant help against deforestation. Labels indicating â€Å"sound wood† would be sold and customers with a more open and aware conscious would purchase timber that is not endangering any ecosystem. Another huge solution to the problem is paper. If we consumed less paper thousands of acres of rainforest timber would be spared. Through another perspective, Brazils government needs to help fight its overpopulation problem since that is a giant factor with deforestation (Solutions ). The government needs to educate its people and make them aware of the present problem and the magnitude its c onsequences can bring. Without an educated, aware society no plan or agreement will work. The fact that Brazils rainforest is disappearing is undeniable. Whether it is going in slow or fast pace does not matter very much. We, as a society need to help protect the rainforests not only because of their beauty but because of the importance in this planets balance with nature. As stated before, the problem does not affect Brazil only, it is a delicate issue whose consequences affect every living thing on this planet. Unless we take action today tomorrow might be too late.

Sunday, October 13, 2019

Manuscript :: essays research papers

ManuScript is a simple, music-based programming language developed to write plug-ins for the Sibelius music processor. It is based on Simkin, an embedded scripting language developed by Simon Whiteside (, and has been extended by him and Graham Westlake. (Simkin is a spooky pet name for Simon sometimes found in Victorian novels.) Rationale In adding a plug-in language to Sibelius we were trying to address several different issues: Music notation is complex and infinitely extensible, so some users will sometimes want to add to a music notation program to make it cope with these new extensions. It is useful to allow frequently repeated operations (e.g. opening a MIDI file and saving it as a score) to be automated, using a system of scripts or macros. Certain more complex techniques used in composing or arranging music can be partly automated, but there are too many to include as standard features in Sibelius. There were several conditions that we wanted to meet in deciding what language to use: The language had to be simple, as we want normal users (not just seasoned programmers) to be able to use it. We wanted plug-ins to be usable on any computer, as the use of PC?s, Macs and other platforms is widespread in the music world. We wanted the tools to program in the language to be supplied with Sibelius. We wanted musical concepts (pitch, notes, bars) to be easily expressed in the language. We wanted programs to be able to talk to Sibelius easily (to insert and retrieve information from scores). We wanted simple dialog boxes and other user interface elements to be easily programmed. C/C++, the world?s ?standard? programming language(s), were unsuitable as they are not easy for the non-specialist to use, they would need a separate compiler, and you would have to recompile for each different platform you wanted to support (and thus create multiple versions of each plug-in). The language Java was more promising as it is relatively simple and can run on any platform without recompilation. However, we would still need to supply a compiler for people to use, and we could not express musical concepts in Java as directly as we could with a new language. So we decided to create our own language which is interpreted so it can run on different platforms; is integrated into Sibelius without any need for separate tools, and can be extended with new musical concepts at any time. The ManuScript language that resulted is very simple.

Saturday, October 12, 2019

Computer-Based Training: Useful or Useless? Essay -- Technology Techno

Computer-Based Training: Useful or Useless? "The times they are a’changin’" sang Bob Dylan at one of his more profound moments. Oftentimes, it is human nature to resist change no matter what the situation in which the change is taking place. However, change is a fact of life and at a time of boundless innovations in the field of technology, the Information Age, if you will, it is futile to resist it. Unfortunately, that resistance is exactly what is causing many people to see only the disadvantages of computer-based training (CBT), regardless of the enormous amount of benefits the implementation of computer-based training could bring to their companies, their employees, and ultimately, to the bottom line (profit). In an attempt to be objective, a definition and some background on CBT are in order. What is Computer-Based Training? Computer-based training is, in a general sense, a reproducible system of instruction conveyed through the use of a computer for the purpose of training an individual. Pretty vague, isn’t it? To be more specific, CBT can take on different forms. According to Kulik, Kulik & Shwalb (1986), as quoted in an article on CBT by Christopher Janicak (1999), CBT programs can be classified as: computer-assisted instruction (CAI), in which the program provides drill and practice; computer-managed instruction (CMO), in which the program evaluates the student's test performance, guides him/her to appropriate instructional resources and tracks progress; and computer-enriched instruction (CEI) in which the computer serves as a simulator or programming device. Most CBT modules are "†¦developed by teams of five specialists: an expert in the particular subject (a SME), a technical exper... ...iance". Pipeline& Gas Journal, 222, 52-54. Dhanjal, R. & Calis, G. (1999). "Computer-based training in the steel industry". Steel Times, 227, 13-14. Dick, W., & Carey, L. (1996). The Systematic Design of Instruction. New York, NY: HarperCollins. --- (1997)."Interactive media corp. receives awards for multimedia programs". Information Today, 14, 31. Janicak, C. (1999). "Computer-based training: Developing programs with the knowledge-based safety training system". Professional Safety, 44, 34-36. Lawson, S. (1999). "Computer-based training: Is it the next wave?". Professional Safety, 44, 30-33. Prewitt, M. (1998). "Darden execs share ins, outs of computer training". Nation’s Restaurant News, 32, 57-58. Rubenstein, E. (1999). "The learning imperative: Operators tap CBT, the ‘net,’ to train and retain employees". Nation’s Restaurant News, 33, 51-52.

Friday, October 11, 2019

Global Procurement and Supply

GlaxoSmithKline:Sourcing Complex Professional Services Erin Edwards Global Procurement & Supply April 22, 2018IntroductionGlaxoSmithKline also known as GSK is currently losing millions of the dollars annually in legal process. Normally, GSK always billed the law firms on hourly basis but this was not practical for the company. The team not had to research and innovate new ways to cut the spending through a new procurement process. GSK, GlaxoSmithKline uses an innovative approach to procure outside counsel by trading relationship based selection of law firms to an online reverse auction. However, the quality of the work, and selecting the right the law firm was a challenging hurdle to jump. GSK was willing to take up the challenge to come up with a better process of handling their spend.GSK is hit with a devastating suit and only has a certain number of days to hire a firm in time to respond. Their managing attorney Sophia Keating grapples with GSK approach to selecting suppliers. GSK employees ensured Sophia that this approach drives down cost and improves the quality of work submitted by the lawyers. Still skeptical about the process, she still runs process by comparing the competing firms and their bids. Furthermore, it was the decision by Harlow to outsource the services. GSK made strides to come up with the suitable options, and options to meet the criteria of less cost, and quality work. However, there were other concerns that could be discussed more broadly to avoid the pitfalls during the process. This case also describes the process in which this process was made and adopted beyond the implications for law firms and other service providers. Many processes seemed to only be adopted by selecting vendors for a variety of supplies and products but can be used for services also. This procurement process can be incredibly beneficial, especially streamline purchasing and tracking spend. This process can ensure a company pays the best price for goods or services, save time by choosing the most reputable vendors, and minimize order delays and mistakes. After getting early endorsement from the general counsel, Marty Harlow worked with GSK's global external legal relations team (GELRT) in legal to develop a matter-specific, mini-RFP tool that enables in-house counsel to assess firms' specific qualifications for a particular representation. The other main component of the OCSI is the electronic reverse auction which encourages fee competition among qualified law firms instead of hourly rates. GSK's preferred firm roster work with procurement to draw up a shortlist of firms to invite to an OCSI event. GSK lawyers use a form-driven process to state as much detail about the matter as possible and these are passed to Harlow's team for submission to firms. This case is very useful in talking about institutional change and how the procurement process can be adopted to many fields and services.Main IssuesUncontrollable SpendingThe company was spending millions of dollars annually on the spending on the legal matters. It was identified that there was also extra unnecessary cost incurred that could have been avoided through a better process that was more centralized. â€Å"More than a quarter of companies in the U.S. and UK spent over $5 million annually on litigation costs in 2012, and among healthcare companies that proportion was estimated to be 30%– 40%. Because legal fees had become a prominent line item in company overheads, top management in many companies pressured their general counsel (GC), the chief lawyer of a legal department, to rein in legal spending† (Gardner and Silverstein 2)There were some moments when the company even did not know about the spending on the legal matters, and legal department exceeded the budget sometimes. This was an issue many companies were being affected by, not just GSK. However, GSK noticed the high costs and need to be able to have a better centralized process. Therefore, it was challenging for the company to manage the spending on the legal matters and find another solid process that could not only cost less, but also provide quality services since quality is very important in the legal work. Relationship Vs. QualityGSK is engaged with the same law firms that they have had long relationships with. â€Å"One involved consolidating the number of firms with which their company regularly worked—sometimes ending long-standing relationships.† (Gardner and Silverstein 3) Relationship management is very key is long lasting business relationships, which has allowed GSK to be very successful with prior legal matters. However, through this process, the company would incur extra cost on the legal matters, because there is no cap on spend since it was tracked hourly. Since there was no centralized system to track the work and spend, GSK had no idea about the urgent matters and problems of the company. It is very important the firms that are selecting ensure that quality work is being completed without overspending. Cost does not always mean quality. GSK should have to risk quality during their cost for the best legal pursuits. Even though supplier relationship management is great, but it becomes challenges when spend is starting to become uncontrollable and unmanageable. Building closer relations with your strategic partners will minimize supply chain risks. Having strategic partners whose goals are aligned with business objectives are highly valuable and important to long term success.KPIsThere was not performance management in place to determine how the firm is performing. GSK did not have a quantifiable measure that is used to track and assess the status of the firm process. Every area of business especially complex professional services should have specific metrics that should be monitored. Having metrics will focus more on big picture financial metrics, which was an issue for GSK without the procurement process. The case does not mention how performance of the firms will be tracked. â€Å"GELRT leveraged technology to obtain?the information it needed to optimize financial performance and strengthen strategic planning. Matter management, electronic billing, and reporting systems were already in place within the legal department.† (Gardner and Silverstein 6) There is a lot of information about how GELRT uses technology to acquire information. The system is able to track spending, but there is no system in place to track KPIs.AnalysisThe process of sourcing involves the company to select suppliers for a product or service. The complete an evaluation of the supplier and finally contract with the supplier to deliver the required products or services. While procurement refers to the activity of getting the deliveries from the supplier identified and ensuring that the payments to the supplier are made. GSK adopting procurement process has helped make changes within their spend. â€Å"By 2006–2007, procurement had become heavily involved in the sourcing of many ancillary services. Harlow's tough stance in negotiations saved GSK an estimated $23 million: $19 million from Legal Staffing/eDiscovery, $1 million from Court Reporting, and $3 million from Medical Records.† (Gardner and Silverstein 4) By taking the right initiatives in sourcing and procurement, GSK is able to see the benefits. Having a process in place will save the company time; ensure that one is getting the right solution to meet business needs. A procurement process will ensure you pay the right price and avoid overlooking vital steps that may come back to haunt the firm later. Procurement policies and procedures allow a business to arrange its buying strategy to its long-term goals and objectives. Procurement helps with a better chance to meet business goals. â€Å"This system reminds me of buying office supplies or landscaping services. Can it really be applied to a complex legal case like this one†¦.?† (Gardner and Silberstein 1) This is what Sophia Keating thought to herself when the idea of a reverse auction process was presented to her. The vendor selection process initially starts as part of a company's strategy. A procurement process can measure the direct costs and the team timesaving achieved through better management. For example, GSK was very focus on their legal spend, which in turns means you need to select firms that would be able to handle the request in the right budget. The nice thing they had a selection of firms who meet their cost, quality and service requirements needs, but also add some firms who were new. After they shortlisted their firms, GSK was able to use OCSI for their quotes, terms and minimum service levels. Finally, review their proposals from the reverse auctions and reward the firm with the lowest number. Procurement increases an organization's productivity by providing visibility into transactions.Benchmarking is the process of paralleling what companies are doing with what the best performing company in your industry is doing. In textbook, Purchasing & Supply Chain Management describes bench making as, â€Å"Benchmarking is the continuous measuring of products, services, processes, activities, and practices against a firm's best competitors or those companies recognized as industry or functional leaders.† (770) In Exhibit 3 of the case, you able to see how GSK compares with the other Law Firms Self-Assessment. Unfortunately, GSK managing attorney assessment does under perform in a couple areas like understanding business objectives, involvement of diverse team members, and reactiveness and creativeness. One of three types of benchmarking, process benchmarking compares operational processes. Performance benchmarking compares product or services, marketing and sales to determine how to increase profits. Short term benchmarking goals, produce quick results. But it is the long-term goals that help with the direction and strategies of the company that will make it more competitive in the market. Performance management is a performance controlling style that has grown increasingly popular with a variety of companies. Performance management is the process in which it challenges the company's overall performance and abilities. It challenges them to bring their best foot and work forward. Performance manage usually involve setting goals, then evaluating their progress or work with a reward or penalty depending on how the firm or vendor performs. RecommendationsRun Reverse AuctionsA reverse auction is best used to obtain the best rate by embracing competition among firms bidding on price. GSK using this method will allow the law firms to compete with their best idea to win the business and also be within budget. The idea of reverse because during the auction makes sure the price drops. Price was definitely an issue for GSK previously because there was no way to track the spending. Using the method of reverse auction has a number of advantages. Some of the benefits of reverse auction is the amount of time it takes to make a decision. Before something that could takes months, can now be shortened into weeks or even days. Also, the bidders are able to see who their competition and how they compare to them. There is a lot more transparency when it comes reverse auctions. Law firms would calculate their preliminary prices and confirm the very lowest price they would go to secure the business. II. Conduct Routine Performance ReviewsPerformance management is a mutual agreement about how companies or individuals contribute to an organization's goals. This is what OCSI can do for GSK. OCSI can act as a process of performance management and appraisals focusing on aligning GSK's workforce, building capabilities, improving employee performance and development, and influencing better business results. GSK should complete annual performance reviews to evaluate the firms' performance. This entails gathering feedback from co-workers and clients into consideration and observations by management. These assessments can be very detailed and elongated to include a review of the previous years' evaluation and an assessment of services. Many firms may have the company complete an evaluation of their own performance that is then discussed during the evaluation and compared to the official evaluation. Monitoring gives the company an opportunity to make a course correction or adjust a timeline if it is needed so that the vendor will produce the desired outcome of successfully achieving goals. If GSK concludes the vendor has unacceptable performance, monitoring performance enables them to identify the problem early and get an opportunity to rectify before being evaluated incorrectly.III. Implementing a Performance-Based IncentiveThese systems are designed to retain top-performing vendors, motivate the desired performance, and control costs. If a company wants to pay for performance, it must define performance in very specific, objective, quantifiable terms, measure it and track it. Introducing a performance based incentive program with help firm collective help GSK reach their business goals and legal objectives. This r eally entices firms to align their work with the business goals. Having a reward for exceptional performance and penalties for poor performance really ensure that money is not being wasted but invested properly. IV. Routinely Fresh Preferred SuppliersIt is healthy to refresh suppliers and firms from time to time. If you consolidate your supplier base, it will allow better visibility over the billing process. It will be easier to track payments leaving the business and going to the suppliers, so any errors will be identified more rapidly. When you deal with less suppliers and vendors, there is less administration and paperwork to handle. This allows more time to focus on other areas of the business. When it comes to decreasing the number of suppliers GSK uses, it is best to control what's best for the business. Above all, GSK needs to find the best overall fit so that there's a steadiness between the time it takes to achieve their supplier base and the profitability of the business.Conclusion Procurement is should be viewed strategic function working to improve the organization's cost-effectiveness. Procurement helps streamline processes, reduce service prices and costs, and identifying better firms to do services. It is essential to any business that purchases anything such as products or services. Since GSK buys services like other companies, then the better its procurement function works, the more money it can make. Typically, businesses buy products or services from multiple vendors. Procurement handles the details of procuring these purchases at optimal prices. Combining your strengths with stakeholder' helps find new progressive solutions to remain successful in business and stay ahead of the competition. To maintain sustainable supply chain, procurement management has a profitable impact on a company's processes. It helps avoid supply chain risks by better collaborating with vital partners and providing added value to diverse business practices. The bottom line: Performance management is an ongoing practice, not a yearly task. The success of an organization, if aligned to your organizational goals, will drive business results.ReferencesCapko, Judy. â€Å"Five Steps to a Performance Evaluation System.† Family Practice Management, 1 Mar. 2003,, Heidi K, and Silvia Hodges Silverstein.â€Å"GlaxoSmithKline: Sourcing Complex Professional Services.†Ã‚  Harvard Business Review, 26 Feb. 16, 18 Apr. 2018.Markgraf, Bert. â€Å"How to Evaluate a Company's Performance.†Ã‚  Small Business –,, 5 Feb. 2018,, Robert M., et al.  Purchasing and Supply Chain Management. South-Western, 2011.Wincel, Jeffrey P.  Lean Supply Chain Management: a Handbook for Strategic Procurement. Productivity Press, 2008.