Economic Risk Assessment Of Democratic Republic Of Congo Finance Essay - Free Essay Example

Sample details Pages: 11 Words: 3260 Downloads: 5 Date added: 2017/06/26 Category Finance Essay Type Argumentative essay Did you like this example? This report provides an assessment of the Political and the Economic Risk of DRC for FDI by Rio Tinto and whether it will have the access to the funds to finance its direct investment in the DRC and what are the available sources to finance that project and different risks associated with them. While discussing the issues relating the political risks and other macroeconomic indicators related to the DRC. The report also addresses the issue of repatriation of dividends to the UK and risks associated with the cancellation of the mining contract. Don’t waste time! Our writers will create an original "Economic Risk Assessment Of Democratic Republic Of Congo Finance Essay" essay for you Create order The methods used for the economic risk assessment are the comparisons of the macroeconomic ratios i.e. GDP, the comparison of CFC and GBP to determine the foreign exchange risk and its effects. The sources of finance were determined through the current strategies and sources that are used by the Rio Tinto itself. The taxation issues were discussed in accordance with the current UK and DRCs taxation laws. The results of data that has been used show that the DRC has a high political and economic risk irrespective of the fact the economy of DRC has grown in the last few years and political process has also been stabilizing. Rio Tinto have the required sources of finance available in form of Joint Ventures like it recently did with the Chinalco and in the case given the Angang Steel Company, Bridge Financing and DFI which provide funds to the companies investing in the developing countries. The repatriation of profits to UK shareholders can also be managed. And the risk associated with t he cancelation of license can be mitigated by either transferring the risk by getting Political Risk Insurance or by reducing it through joint ventures. Introduction Democratic Republic of Congo is a country situated in the Central Africa. It was colonized by Belgium till 1960, when it gained the independence from them. Though the country got independence, the USA and Belgium helped the COAS Mobuto. It was that time that led the country into three decades of unstable, undemocratic period of Mobuto, resulting into the many adverse effects of the dictatorship in the country. During this period injustice, mismanagement of the issues and corruption was at its peak. These were the reasons that stopped the country which was enriched with the natural resources to grow and benefit from its natural resources, which plays a vital role in the economy of the country. In 1980 the mining industry accounted for almost 75% of the total exports and 25% of the countrys GDP. Economic Risk Assessment of DRC Political Risk: The political conflicts have been the main hurdle in the development of the DRC. The main cause of political instability in the DRC has been the presence of armed rebellions in the Far East part of the country. But due to agreement between DRC and Rwanda, the support of UN and developed countries the political environment is getting stable and its contributing a lot to the economy regardless of the political risk of DRC is still termed as high. Economic Environment of the DRC has been improving since the democratic process has started in the country. Macroeconomically DRC has grown in the past year that resulted in a stable foreign exchange rate that has also affected the inflation rate in the positive way. The debt situation has also improved due to the debt relief by the IMF and World Bank. The GDP of the country has been improving, the below graph shows how it transformed into 5.4% from -6.9% from 2000 till 2010. The GDP growth fell in 2009 that was because of the economic recession that affected the whole world. Since the mining industry comprises major chunk of the DRCs GDP, therefore revival of mining industry in the 2010 has directly impacted the GDP of the DRC. The mining industry comprises almost 30% of the GDP. The projections of IMF further show that the GDP will grow till almost 7%, which is a positive sign for the investors. GDP per capita (PPP) has also from $314.42 (2008) to 319.59(2009). The exports are also projected to grow in the 2010 and the imports are growing more in comparison to the exports hence resulting in increased negative balance of trade but investors know that the increase in imports is due to the import of the machinery required in the mining industry and to develop the infrastructure of the country. The negative balance of trade will increase the economic burden on the country but the FDI mainly by the mining companies like Rio Tinto will help the DRC to improve its current account and foreign reserves. The negative point here is that DRC still wants to borrow more money from IMF and different countries to fund its budget. IMF has agreed to provide $10 billion to DRC in return on the reconsideration of the earlier contract with the China worth $9 billion. Figures Source: World Bank and IMF Foreign Exchange Risk is high as CFC is continuously depreciating against the GBP in the long run, which is a negative indicator to the Rio Tinto because the country in which the Rio Tinto repatriate is UK where GBP is used . The foreign exchange risk can be mitigated by the Rio Tinto through the forward contracts or hedging it through different ways. 2009 2010 09 10 11 12 01 02 03 04 05 06 07 08 09 10 11 12 The first issue regarding the shipment is that the China is far away from the if sent through sea to the China, it will have to pass through the Somalian water that has been full of danger because of the Somalian Pirates, though this risk has been mitigated by the few of the best navies in the world like BRN and the PN. The other issue is that it will have to pass through Pakistan since most of the Chinese imports and exports are currently passed through the Pakistani Ports. And since Pakistan is politically instable therefore there is lot of risk involved. The shipment will also carry a high shipment costs due to the long route. This risk can be mitigated through International Insurance of the shipments because this is the best and more effective way to mitigating the risks involved in the shipment of iron ore to the China from DRC. Sources of Finances Mining companies like Rio Tinto in UK have many options for financing their projects. But in order to get the investment the projects has to be independently reviewed. Financing for mining projects is often different from the financing of other types of the projects, for this kind of project the investors will focus mainly on the technical and economical data of the project and country respectively therefore the reputation of the people engaged is very important. Sources of finance that are available to the Rio Tinto are UK Commercial Banks as a Bridge financer: Rio Tinto has A3 (Stable) Long Term Rating (Source: Moodyss Investor Services) but still since the political and economical risk of the Mining Sector in DRC is high and also the involvement of the Exchange Rate Risk the Commercial Banks may not be willing to lend the long term loans to Rio Tinto to finance their projects irrespective of their reputation and credit rating. Therefore Rio Tinto should look for the like bridge financing that usually are short term loans that are paid one off at the end of the term and are useful to finance the initial stages of the iron ore mining project which are more risky. It will provide Rio Tinto to get rid of the project if unsuccessful at the initial stages repaying the short term loan. But before opting this option Rio Tinto should also consider that same level of security May be asked by the financers as long term lenders may be asking as the risk profile of DRC is high. Dividends Cut: The dividend cut is a cost free funding source. Rio Tinto even if only pay the half of the dividend it paid to its equity shareholders in 2009 i.e. pound;550 million, it will be enough to finance the mining project in DRC. The main risk associated with this source if finance is that the shareholders may get a negative impression due to non payment or low dividends because Rio Tinto has already paid pound;552 million which is 60% less than the 2008s dividends, even though the reason of drop in the amount of dividends was a clear indication of the effects of the recession on the Rio Tinto which has also led the drop in profits as well. The shareholders still may get a negative impression on the shareholders and potential investors in the Rio Tinto. That may be the reason that Rio Tinto is planning to give same amount of dividend they gave in 2008 to the shareholders just to give the positive message to the shareholders. Joint Ventures with the Companies is an agreement where two or more business agree to cooperate and help each other on a certain project by either combining their resources or exchanging one resource with the other to get benefit out of it. It will not require any kind of changes in structure of the companies; it will only be a relationship of cooperation with each other where each one is responsible for its own profit share and risks. It also gives an immediate cashflows to the company. Rio Tinto has previously tried this with the company called Chinalco which led to cashflows of pound;12.5 billion and the current requirement of pound;250 million. And even recently the Rio Tinto is looking forward to more joint ventures with the companies in the China. The joint ventures also have risks that the different cultures and management style may result in poor coordination. And even the balance of expertise may not be achieved in the joint ventures and the objectives of the venture may be vague but in Rio Tinto joint venture with Chinalco seems to be well planned and handled and that shows their professionalism and long term view. Development Financial Institutions are the alternative financial institutions that are mostly funded by the developed countries to help the under developed and developing nations by initiating the investment by the different multinational companies in the country by giving them loans and grants. So in return the economy of those countries are improved and investment by the companies in that countries infrastructure and fulfilling different CSRs. For example in the case of Rio Tinto the pound;250 million is not a big amount for the development financial institutions like ADB, which can give the loan to Rio Tinto at rate lower than the market rate to improve the mining sector and mining legislation since Rio Tinto is one of the largest mining company in the world, so it has strong CSR values and may also influence the government of Congo. The risk in this source is that DFIs usually impose certain covenants on Rio Tinto which may __ them to perform their operations independently and im plement their plans as they had planned and if the covenants imposed are not met than there may be adverse implications of that. Repatriation of Profits to UK Shareholders Rio Tinto Group is a dual listed company which is trading on both the UKs LSE and ASE. Therefore the Rio Tinto is wishing to repatriate all of its annual profits to the shareholders in UK. There are number of issues which has to be addressed if they want to do this, some of those issues include the foreign exchange risk issues, CSR and the taxations issues are involved. Taxation Issues: The Mining Code of DRC the mining companies to pay the Professional Tax on their earnings i.e. their profits at a rate of 30% instead of the Corporate Tax Rate of 40%. The Professional Tax is charged on the same profit that is calculated by other Companies following the IFRSs and IASs or the local accounting laws. Since UK neither has any Double Tax Treaty signed with the DRC nor the Rio Tinto has registered their mining operations in DRC as a company, therefore the HMRC will ask the Rio Tinto to pay the UK Corporation Tax at a full rate of 28%. And the repatriation of the dividends will be treated as Overseas Income and not as the dividends due to the point discussed above. Though the Rio Tinto can get the DTR on the tax paid i.e. lower of tax payable in UK or paid in the DRC. Another issue here is of the withholding tax because the DRCs Mining Code will deem the repatriation if the profits as dividends paid to the UK Shareholders of Rio Tinto and the withholding ta x rate of the DRC is 10%, which will further reduce the amount repatriated to UK shareholders. Another corporate taxation issue here is that the Government of DRC is trying to get more and more tax revenue through its mining industry through curtailing different kind of benefit given to the sector under the Mining Code, even though the strong reaction from the industry has been given against the actions,. But still there is a possibility of the increase in the tax liabilities to the DRC Government which will ultimately reduce the profits repatriated to the UK shareholders. Foreign Exchange Risk: This is the key issue involved here because the foreign exchange rate determines how much dividends the shareholders of Rio Tinto will get in the UK, after the issues of tax has been determined and resolved. There is a key concern here for the Rio Tinto because the currency of DRC CFC is devaluing against the GBP. CSR and Local Environment Issues: The Rio Tinto is one of the largest mining companies in the world that has high values of CSR. CSR is just not all about Rio Tinto spending their money out from their profits in DRC or certain place where they are operating it is something more than that it is about how the Rio Tinto will contribute to the economy of the DRC which is in the developing stage, since Rio Tinto will export the iron ore to their joint venture partner Angang Steel Company, this will contribute to the GDP of DRC due to the increase in exports will have a positive impact on the balance of trade of DRC. Rio Tinto contributed almost $45,000 million in 2009 to the economies in which they are operating. The negative impact of the repatriation of profits to the UK will be the flight of foreign exchange to the UK in terms of GBP hence affecting the foreign exchange reserves of the DRC. Since the Rio Tinto is intending to repatriate the profits to the government and people of DRC m ay look negatively thinking that their countrys resources were only used to make profits for the people of the UK and they get nothing from these kind of contracts. Rio Tinto should invest a small amount in the infrastructure of the DRC making people feel that something is been done for them in return of the usage of their resources and this infrastructure will not only benefit the DRC but also the Rio Tinto providing them better roads for example for the transportation of their iron ore to their Chinese partner. Risk Cancellation of Licence by DRC Government. DRCs parliament is responsible to regulate the mining industry through the legislative process. The Mining Code 2003 is the framework through which the industry is regulated. Constitutionally the title and ownership of the mines and land that has minerals belong to the state of DRC. Though DRC Government may allow different national or foreign entities to explore and mine the fields and land to extract the minerals through a license. As the CEO of Rio Tinto has assured they will get the license of extracting the iron ore in the similar way. There is another risk that is hanging on the Rio Tinto regarding their project in DRC is that the Government of the DRC may cancel the license of Rio Tinto. The main issue here is that since Rio Tinto is one of the key players in the mining industry all over the world it may use its reputation power to resist any tax increase on the mining industry. Earlier this year on the pressure of IMF and western countries the President of DRC Mr Kabila was f orced to revise the contract terms of Tenke contract with the China. Even in 2007 a panel was appointed by the Government to review the 61 mining contracts that were considered for either cancellation or revised. And it was not the first time. So this may also happen to the Rio Tinto resulting in either loss of license or assets being confiscated by the DRC. So the possible strategies for the Rio Tinto would be either TARA: Transfer strategy means that Rio Tinto will accept the risk of either licence been cancelled or asset confiscation and Rio Tinto will than try to transfer this risk to the third parties like the Insurance Companies that provide PRI to the companies investing in the developing countries or either get the guarantees from the DFIs. Though this will have a cost to the Rio Tinto financially in the Political Risk Insurance and non financial in the DFIs case but it will give a sigh of relief to the Rio Tinto about their FDI in the DRC to extract iron ore. Avoid means that Rio Tinto doesnt face the risk of licence cancellation by simply avoiding the FDI in DRC. That means that the Rio Tinto should not invest in the DRC at all, which doesnt seems to be right because Rio Tinto Group can clearly either reduce or transfer the risk even after looking the financial statements of Rio it is clear that they can afford the investment as well. And also the project can get the Rio Tinto shareholders lot of return on their investment in the long term. Reduce: Rio Tinto can even reduce the risk of the licence cancellation by entering into a joint venture with any company which is what Rio Tinto will more likely do. As in the case Rio Tinto has already entered into the joint venture with the Angang Steel Company, this clearly means that Rio Tinto has already shared its risk with them but the percentage of risk been shared is dependent upon the joint venture contract of the companies. This is more likely solution for Rio Tinto. Accept: Another option for Rio Tinto is to face the risk of licence cancellation and doing nothing about it. This option is least used strategy in the contracts like Rio Tinto is entering into because an investment of this amount pound;250 million is not that small. Conclusion: DRC is a developing country with high economic and political risk, though the overall economic condition of the country is still not good but the political environment has stabilized a bit and economy of DRC has grown in the last few years which is giving a positive indication to the foreign companies which are willing to invest in the countrys mining industry. Rio Tinto is a one of the largest mining and CSR group which can help the local people and economy and helping government by giving high revenue in relation to their mining contract while fulfilling the interest of their own shareholders. The investment might not produce any profits in the short term but Rio Tinto have the available resources to go with the project though the risk is high will compensates the high returns in the long term fulfilling the interest of the Rio Tintos shareholders.

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Challenges Faced Internet Of Things Survey â€Myassignmenthelp.Com

Question: Discuss About The Challenges Faced Internet Of Things Survey? Answer: Introduction This part of the research proposal demonstrates some approaches named philosophy of research, research approaches, research design, and techniques of data collection. It will be significant to get appropriate information for effectively resolve the research problem. The major purpose of this research study is to address the effective technique to resolve the challenges of IT Company, Australia in an effective manner. Moreover, researchers will use various articles in the research to make a balance between the research issue and collected information. Moreover, the specified techniques can be supportive to improve the quality as well as the reliability of research by using many techniques of the observations (Highet, et al., 2014). Research Onion Framework The research methodology part includes research approaches, methods, and strategies that will be used by the researcher to collect the accurate information to accomplish the research objectives. Due to this, the researcher will use the research onion framework to create depth understanding about the tools and techniques of research. At the same time, it can also be said that the research onion framework is developed by Saunders to generate the accurate understanding of the research techniques. It will be also effective to improve the research quality in an appropriate manner (Laudon, et al., 2013). The research onion framework will be effective for the researcher because it will be supportive to determine the appropriate tools and techniques along with detail understanding regarding the techniques in a systematic way (Saunders, 2003).By using the onion framework, the research will be conducted in the following way: Research Philosophy Research philosophy plays an imperative role to make the rational reasoning for collecting, analyzing, and operating information in the research. The major aim of research philosophy is to implement the ideas and opinion regarding the research issues in the research. Moreover, the opinion and ideas of researcher become a basis for research methods. The research philosophy includes two kinds of factors such as interpretivism and positivism philosophies. For this research, researchers will use the interpretivism philosophy because research issue is subjective in nature (Leat, et al., 2013). At the same time, the interpretivism philosophy will enable the researchers to analyze and create depth understanding regarding the research issue. Further, interpretivism philosophy will be used by the researcher because of improving the research quality. At the same time, it can also be said that the researcher will not be used the deductive approach because the research is subjective in nature, which cannot be appropriate to imply the deductive approach. In addition to this, it can also be said that the deductive approach is relied on general views and ideas to reach the particular problem. It will be appropriate with the realism philosophy. For this approach, the researcher will develop hypotheses by using many theories and afterward accept and reject them as per the analysis of data (Mackey, et al., 2015). Research Approach The research approach is also crucial in the research methodology because of illustrating the cause to choose the specified research procedure. The research approach considers two elements named inductive and deductive research approach. The inductive approach is used to deeply evaluate the collected data as well as supports to develop the theoretical understanding regarding the research issue. In contrast, the deductive approach is applied to set the hypothetical origination. Besides this, the deductive approach is used to prove the hypothesis in the research. On behalf of the hypothetical plan, a researcher is capable to accept and reject the whole research process in terms of the research subject. For this research, researchers will use the inductive approach because the nature of research is subjective (Myers, 2013). For this research, there is no need of any hypothesis; hence researchers will execute the inductive approach as compared to the deductive approach. Beside this, a research will implement the inductive approach to pool the actual information about the challenges faced by the IRESS Company IT industry in Australia. This research approach is significant to determine the different opinion and values to effectively conclude the findings. In opposition to this, a researcher will not implement the deductive approach because of inappropriate data of the research (Noble, et al., 2014). Research Design A research design will be beneficial for the researcher because of determining the complete research structure effectively. By the implementation of research design, a researcher will be enabled to obtain the effective methods and to create the depth understanding of the research phenomenon for gathering the reliable information. Moreover, it helps the researcher to develop an appropriate planning procedure together with helps to get the accurate information towards the research issue. The quantitative and qualitative method is considered in the research design by the researcher to effectively operate the research (Panneerselvam, 2014). Moreover, the quantitative research relies on numerical data through statistical tools and techniques. Beside this, qualitative research allows to the researcher to develop the new ideas and perception regarding the research issue, which will be supportive resolve the research issue in an appropriate manner. A researcher will implement the qualitative research in this research because the research issue is based on the subjective nature. It will be supportive to create a strong picture towards the research problem as well as gather the appropriate data about the research problem. Moreover, the qualitative method helps the researcher in determining the human behavior together with the factors, which affect the human behaviors. In this research study, the researcher will maintain the objectivity and tried to conduct appropriate tools and techniques to fulfill the objectives of the research (Sekaran, et al., 2016). Research Strategy The research strategy is vital for the researcher because it will be supportive to evaluate the data collection methods and get the suitable outcome. The researcher will use different kinds of research strategy to resolve the issue of the research. These strategies are a case study, survey, focus group, and literature review. For this research, a researcher will implement the case study regarding the issues faced by the IT organization because of eliminating the issues of information technology. By executing this strategy, a researcher will be enabled to analyze the previous data which is related to the research issue or subject. Further, the researcher will use the case study because of analyzing the specified research issue within the limits of an organization (Shah, et al., 2016). Additionally, a researcher will implement the descriptive case study because of determining the major phenomenon regarding the research issue. Beside this, researchers will use the literature review because it will be supportive to create the understanding regarding the research issue. Moreover, a researcher will practice various sources of secondary data collection method named company website, journal, reference books, online sites, reference books, and magazines. It will be supportive to collect the information about the research problem. At the same time, it can also be said that the literature review part is helpful to develop the theoretical framework towards the issues to implement the information technology in the company. Further, these approaches will be supportive for the researcher to improve the accuracy of the result (Smith, 2015). Data Collection Method Data collection method plays a vital role in the research because it enabled the researcher to appropriately collect the data and meet the aim and objectives of the research. The data collection method considers two kinds of methods named primary and secondary data collection method. Primary data collection will be collected by fresh information or first-hand data. It will include different sources like observation, interview, focus group, questionnaire, survey data collection method. Besides this, the secondary data collection method is relied on the existing information, which can be collected through offline sources, journals, books, case study, and company websites to pool the information regarding the research issue (Taylor, et al., 2015). In addition to this, other sources of secondary data collection method are online sources, newspaper, and magazine. For this research, a researcher will implement the secondary data to get the reliable result regarding the research issue. Furthermore, the secondary data is involved the literature review due to getting the accurate result in less time and cost. Sampling Procedure The sampling process is appropriate to choose the sample from the whole population because of obtaining the accurate information regarding the research issue.There are two kinds of methods which can be included by the sampling such as probability and non-probability sampling method. The researcher will execute the probability method to provide the equal chance to the candidates who participate in the research study (Wilson, 2014). Besides this, non-probability method will not be used by the researcher due to the subjective nature of the research issue. For this research, probability sampling method will be used by the researcher because the research is based on the subjective nature. For this research, 40 employees of IRESS Company from different geographical location of Australia will be selected by the researcher to meet the research objectives. Ethical consideration For this research study, ethical consideration consists to conduct the research process in an appropriate manner along with following the guidelines of the University. Due to avoiding the ethical problems, the researcher will execute the ethical way to complete the research as well as to resolve the issue of research. For this research, the researcher will focus on some elements such as the elimination of plagiarism, data manipulation, and accurate referencing. In addition to this, it can also be said that the researcher will maintain the confidential data of the respondents who participate in the research. Estimated problem There are many elements that will be negative impacts on the research project in long-run. For this, the estimated time frameworks will a negative impact on the completion of the research in an appropriate manner. On the other side, it can be said that a researcher will face problem at the time of collection of primary data due to evaluating the respondents at one time. To decline this problem, the researcher will communicate with participants by using the e-mails, and the questionnaire method. Additionally, it will be enabled the researcher to make a positive relationship with respondents to keep the confidential data of respondents because of decline the ethical problems in the research (Zikmund, et al., 2013). Time schedule Table 1: Research plan for completing the project Activities which will be executed A total number of weeks to perform these activities. 1 2 3 4 5 6 7 8 9 10 Research issues selection Developing appropriate aim and objectives Primary and secondary data collection Design of the questionnaire Select sample by using the sampling method from the whole population Evaluation of findings Final draft and report writing Final submission of report From the above time schedule, it is addressed the execution of primary and secondary data collection method take more time than the other activities of research. Conclusion As per above interpretation, it can be summarized that IRESS can face many challenges regarding the information technology at the time of operating the business. Moreover, it can also be concluded that researcher will use that interpretivism philosophy because of obtaining the reliable result in specified time and cost. Along with this, a researcher will use the mixed data collection method because the research is based on the subjective nature. Finally, it can be illustrated that a researcher will use the statistical analysis tool due to accomplishing the research objectives in an appropriate manner. References Anderson, V. (2013) Research methods in human resource management: investigating a business issue, USA: Kogan Page Publishers. Bak, O., and Boulocher-Passet, V. (2013) Connecting industry and supply chain management education: exploring challenges faced in a SCM consultancy module, Supply Chain Management: An International Journal, 18(4), pp. 468-479. Bramness, J. G., Henriksen, B., Person, O., and Mann, K. (2014) A bibliometric analysis of European versus USA research in the field of addiction, Research on alcohol, narcotics, prescription drug abuse, tobacco and steroids 2001-2011, European addiction research, 20(1), pp. 16-22. Bryman, A., and Bell, E. (2015) Business research methods, USA: Oxford University Press. Byrnes, L., Brown, C., Foster, J., and Wagner, L. D. (2013) Australian renewable energy policy: Barriers and challenges, Renewable Energy, 60, pp. 711-721. Chong, S. (2014) Business process management for SMEs: an exploratory study of implementation factors for the Australian wine industry, Journal of Information Systems and Small Business, 1(1-2), pp. 41-58. Collis, J., and Hussey, R. (2013) Business research: A practical guide for undergraduate and postgraduate students, UK: Palgrave Macmillan. De Massis, A., and Kotlar, J. (2014), The case study method in family business research: Guidelines for qualitative scholarship, Journal of Family Business Strategy, 5(1), pp. 15-29. Eriksson, P., and Kovalainen, A. (2015) Qualitative methods in business research: A practical guide to social research, USA: Sage. Gustafsson, A., Herrmann, A., and Huber, F. (Eds.). (2013) conjoint measurement: Methods and applications, USA: Springer Science and Business Media. Highet, G., Crawford, D., Murray, S. A., and Boyd, K. (2014) Development and evaluation of the Supportive and Palliative Care Indicators Tool (SPICT): a mixed-methods study, BMJ supportive and palliative care, 4(3), pp. 285-290. Laudon, K. C., and Traver, C. G. (2013) E-commerce, USA: Pearson. Leat, P., and Revoredo-Giha, C. (2013) Risk and resilience in agri-food supply chains: the case of the ASDA PorkLink supply chain in Scotland. Supply Chain Management: An International Journal, 18(2), pp. 219-231. Mackey, A., and Gass, S. M. (2015) Second language research: Methodology and design, UK: Routledge. Myers, M. D. (2013) Qualitative research in business and management, USA: Sage. Noble, H., and Smith, J. (2014) Qualitative data analysis: a practical example, Evidence-based nursing, 17(1), pp. 2-3. Panneerselvam, R. (2014) Research methodology, USA: PHI Learning Pvt.Ltd.. Saunders, M. (2003) Research Methods for Business Students. South Africa: Pearson Education. Sekaran, U., and Bougie, R. (2016) Research methods for business: A skill building approach, USA: John Wiley and Sons. Shah, P. A. A., Habib, M., Sajjad, T., Umar, M., and Babar, M. (2016). Applications and Challenges Faced by theInternet of Things-A Survey. In International Conference on Future Intelligent Vehicular Technologies, USA: Springer. Smith, J. A. (Ed.). (2015) Qualitative psychology: A practical guide to research methods, USA: Sage. Taylor, S. J., Bogdan, R., and DeVault, M. (2015) Introduction to qualitative research methods: A guidebook and resource. USA: John Wiley and Sons. Wilson, J. (2014) Essentials of business research: A guide to doing your research project, USA: Sage. Zikmund, W. G., Babin, B. J., Carr, J. C., and Griffin, M. (2013) Business research methods, USA: Cengage Learning

Marketing a new medical business venture

In any type of marketing the characteristics of the people who form the market are important. The strategies to be employed by the marketer depend on who they are selling their ideas. In our case the physicians are to market themselves to people of a high caliber who tend to always be busy.Advertising We will write a custom essay sample on Marketing a new medical business venture specifically for you for only $16.05 $11/page Learn More This will greatly affect both the arrangement of their offices, location of the offices, office procedures and scheduling of the services. The article goes ahead to explain some of the important measures that should be taken by the physicians to ensure they carry out their business as effectively as possible. Starting off with the office organization measure, it is important to note that Boomers, Gen-Xers, and N-Gen white-collar workers are extremely busy people. This is a strong factor to consider when laying down the off ice structure. These people are not ready to spend a lot of time in queues in search of medical services. The physicians should have more than one serving points to reduce the number of people queuing. The number of serving points can be determined by simulation methods (Berkowitz, 2010). In this simulation exercise a model of the office can be used and the number of expected clients estimated. Using either queuing techniques or random numbers the physicians will easily determine the number of servers they require. This will reduce the time spent in the offices seeking the services. Their ever busy customers will then visit the offices in large numbers in their free time (Berkowitz, 2010). They should also try to reduce the number of procedures or desks that one person goes through before being served. The individuals serving these high class customers should be highly qualified to ensure the best services are offered. The highly qualified individuals will also help the clients spen d less time in the offices as they will serve them faster. Positioning of the office and other advertisement materials should be looked at keenly. The office should be situated in a central location or a place that most of the clients visit on a daily basis. Advertisement notices on the office building should be conspicuous and easily noticeable from a distance. This is because the white collar job professionals do not have time to read through small writings but will definitely read the conspicuous writings even if they do not intend to read them.Advertising Looking for essay on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More Scheduling the service time is also a very strong factor to be taken into consideration as far as marketing their business is concerned. The physicians have to study their clients, their schedules, when they are off duty and when they are likely to seek the services. This will help them come up with a service schedule that will see them manage their clients in the best way possible. It can be achieved by either scheduling the service hours to coincide with the off duty hours of their clients (Berkowitz, 2010). They can also allocate shifts to their staff such that those who are highly qualified and can work faster when there are more clients. The number of serving points can also be determined and changed from time to time depending on the available clients. It will be a good idea for the physicians to stretch and work over the weekend because it’s during the weekends that the mentioned customers will be free. Reference Berkowitz, E. (2010). Essentials of Health Care Marketing. New York, NY: Jones Bartlett Learning. This essay on Marketing a new medical business venture was written and submitted by user Julianne Kirk to help you with your own studies. You are free to use it for research and reference purposes in order to write your own paper; however, you must cite it accordingly. You can donate your paper here.

Acid Rain Essays (310 words) - Carbonates, Acid Rain, Free Essays

Acid Rain Essays (310 words) - Carbonates, Acid Rain, Free Essays Acid Rain Acid Rain Acid rain forms high in the clouds in a gaseous form. Theses gasses stay in the atmosphere until they come in contact with rain that dissolves the gasses. A mild solution of sulfuric and nitric acid is formed. These drops fall to the earth and get into our water table beneath the surface. From there they are collected into streams, rivers, and lakes that eventually will lead to the ocean. Rain isn't the only form acidity falls to the earth. About half of all the acidity falls back through dry deposition as gasses and dry particles. The wind blows the acid particles onto cars, homes, trees, and buildings. The acid discharge is then washed from the surfaces by rain. The runoff adds to the acid already in the rain. And adds to the acidity of the water. Air pollution isn't the only way acid rain forms. Lightning is nature's way of forming acid rain. When lightning strikes, it breaks nitrogen's triple bond, it then combines with O2 and then with water in the atmosphere to form HNO3 Acid rain changes the pH of lakes and oceans, which can affect the lives of plants and animals that live there. The rain also reacts to buildings made of marble. Marble is made out of Calcium Carbonate and when mixed with acid rain it forms Carbonic acid. This acid will decompose further to Carbon dioxide and water. This will dissolve the marble buildings. Countries with a great acid rain problem have been forced to encase their sculptures in a transparent case to prevent corrosion. The only way to try to prevent it from occurring is by scrubbing the coal. This process gets rid of the sulfur impurities that could be extracted from the coal. This solution is very expensive but is the only way to remove the sulfur from the coal.

Strategic Analysis (SWOT, PESTEL, Five Forces) of McDonalds The WritePass Journal

Strategic Analysis (SWOT, PESTEL, Five Forces) of McDonalds 1.0 Introduction   Strategic Analysis (SWOT, PESTEL, Five Forces) of McDonalds 1.0 Introduction  1.1   Introduction1.2   Organisation Selection1.3  Organisation position1.3.1 SWOT AnalysisStrengths:Weakness:Opportunities:Threats:1.3.2 External/Internal Factors.1.3.2.1 External factors (analysed using key PESTEL factors)A. Political Factors  Economic FactorsB. Socio-Cultural FactorsC. Technological FactorsD. EnvironmentE. Legal Factors1.3.2.2 Internal Factors  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   A. Quality of Service:B.   Quality of product:C. Internal management:New Product / Process innovation 2.1 Facility Design and equipment:2.1.1 Restaurant Design: Innovative design to suit 2025 requirementsType of restaurant:The Market:Concept Development:Style of service:Speed of service:Per customer check Average:General Ambience:Management Philosophy:Budget:Completed restaurant design:2.1.2 Equipment:   Introduction of Technology and RobotImplementation(1) Create Urgency(2) Form a guiding coalition(3) Develop a vision and strategy(4) Communicating the vision(5) Enabling action and removal of obstacles(6) Generating short-term wins  (7) Hold the gains and build on change  (8) Anchor changes in the cultureReferences:Related 1.0 Introduction   1.1   Introduction The term restaurant is an establishment where food is prepared and served to the people and always/almost refers to any sort of dine-in. Restaurants range from simple dining places where food is catered to people nearby or tourists for a reasonable price to expensive eat-outs serving food and wine in formal outfits depending on the local culture and tradition. Restaurants are classified based upon the range of menu, pricing and the mode of preparation. The changing trends in economy and income changed the purchasing power. The change in purchasing power also reflected in the market preferences and consumer behaviour. The industry has started becoming customer centric. This lead to the change of historic serving method (food served to the table by a waiter) to evolve into of fast-food and take away restaurants. There is quite a lot of difference between different types of restaurant. A coffee shop serving breakfast and lunch is completely different from the fast food industry (Rainsfo rd, 2001, P.208)     Fast food restaurants ranges from small road side vendors to American giants like McDonald’s and KFC (Caterersearch, 2011). But they have one thing in common. They deliver their service to the customers very quickly when compared to typical restaurants. 1.2   Organisation Selection The case study is to develop an organisation as the restaurant of the future (2025) and to predict the possible challenges and opportunities in achieving it. The study has also tried to suggest methods to overcome the odds and capitalise on the possible strengths. What began with a handful of hot dog and hamburger has spread its influence into every aspect of the society as an industry (Schlosser, 2001, p.3). This case study has considered McDonald’s possibility of becoming a restaurant of the future.   Patrick McDonald in 1937 opened a restaurant â€Å"The Airdrome† selling hamburgers and juices. Later in 1940 Maurice and Richard, sons of Patrick McDonald opened a speed Service system and named the restaurant as â€Å"McDonald’s†. There are now more than 31000 restaurants in over 119 countries and revenue of US$ 24 billion (McDonalds, 2011 Securities and Exchange Commission, 2011). McDonald’s is the biggest chain of restaurants in the world serv ing nearly fifty million customers per day (McDonalds, 2011). 1.3  Organisation position Different organisations are influenced by different factors, but in common they are influenced by political, economic, social, technological, environmental and legal factors. The response to these factors is determined by the organisation`s strengths, weakness, and managerial efficiency. McDonald’s, being a food industry, dominates the market till today with its diversification. McDonald’s market leadership can be attributed mainly to its growth in the recent years. The growth was steady despite global economic crisis. The improvement in the buying pattern of the people is a result of the overall increase in the income and the standard of living of the middle class. People have started to find ways to increase their income to rather than curb their comforts. UNESCO has predicted a substantial amount of increase in the consuming class. These facts make the organisation look very positive in future (UNESCO, 2011). 1.3.1 SWOT Analysis Strengths: Innovation and diversification in product range. Extensive geographical and demographical presence. Management and franchise network`s support and adoptability to the dynamic market Not being complacent and its attitude of uncertainty acceptance Weakness: Customer behaviour and expectation differs vastly among different cultures and boundaries. Opportunities: Increase in the number of applications for franchising. This goodwill of the organisation is a great asset in the long run. Increase in demand for the service oriented sector with increase in population of the consuming class. Its commitment to provide health conscious diet has attracted customers across the globe. Innovation in the product range keeps on accumulating the customer base. Threats: Legal threats including law suits against the restaurant against their advertising, meals, obesity caused by their food, fries, employment etc. Campaign against McDonalds by independent organisations like Mcspotlight posing a real risk to its marketing strategy (Mcspotlight, 2011). McDonalds have problems with fluctuations in operating and net profits which ultimately impact investor relations. Operating profit was $3,984 million (2005) $4,433 million (2006) and $3,879 million (2007). Net profits were $2,602 million (2005), $3,544 million (2006) and $2,395 million (2007) (Marketingteacher, 2011). Opposition from parent group for attracting the kids by providing toys/gifts etc., thereby soliciting them to the unhealthy fast food culture at an early age. Food contamination will lead to an epidemic as the raw food is always handled in mass and distributed to every part of the country by centralised distribution centre. Competition from major food chains like Burger King, KFC and mid-range local restaurants which sell similar products at much less price than McDonalds. 1.3.2 External/Internal Factors. 1.3.2.1 External factors (analysed using key PESTEL factors) PESTEL analysis helps us to understand the overall picture of the operation of an industry. A. Political Factors The operations of any organisation are heavily influenced by the individual state policies enforced by each government and McDonald’s is no exception. For instance, there are certain groups in Europe and the United States that protest to the state pertaining to the health implications of consuming fast food. They claim that harmful elements like cholesterol and adverse effects like obesity are attributable to consuming fast food. There are other factors such as the tax law, employment law and related trade restrictions. Tax rates could affect the growth of the organisation.   In a diverse working environment employment restrictions like working hour’s regulation require the organisation to employ more staff. Amendments like this increase the overall cost involved.   Certain restriction has very strong influence in the operation of the organisation. Certain laws penetrate so deep that they even constrain the content of the food.   Economic Factors Organisations like McDonalds which have global presence are affected by the changes in inflation and the exchange rates.   Hence, these chains may have to adapt to the issues and the effects of the economic environment. The economic factors also determine the supply and demand relationship of the raw materials within the organisation. Other economic factors that impact the organisation are inflation rate, wage rate, and cost of living (Ivythesis, 2011). B. Socio-Cultural Factors International strategies of McDonald’s seem to act on several fields to guarantee lucrative returns for the organisation.   To illustrate, the organisation improves on establishing a positive mind-set from their core consumers.   McDonald’s have understood its customers based on their characteristics. A recent survey has proved that McDonald’s most frequent customers are below the age of thirty-five (Ivythesis, 2011). C. Technological Factors The Company’s key tool for marketing is by means of television advertisements. Elements like the inventory system and the management of the value chain of the company allows for easy payments for theirs. The integration of technology in the operations of McDonalds tends to add value to their products. The improvement of the inventory system as well as its supply chain allows the company to operate in an international context (Ivythesis, 2011). D. Environment The social responsibility of McDonald’s on a region is influenced by the operations of the company in that specific region.   These entail accusations of environmental damage.   Among the reasons why the company is charged with such claims is the employment of non-biodegradable substances for the glasses and Styrofoam coffers, which is offered for the meals (Ivythesis, 2011) E. Legal Factors Legal aspects like tax obligations, employment standards, and quality requirements are only a few among the other equally important legal factors on which the company has to take into consideration (Ivythesis, 2011). 1.3.2.2 Internal Factors  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   McDonald’s constantly deals with very active and rigorous competition. Statistics and results show that there is always the threat of new competitor. One of the internal strength that McDonald’s has had in the past is its early entry into the international market. Due to the fact that it was among the first to enter the international market, it was readily able to analyse what the requirements of the industry and capitalised on its strength. The key reasons for the success of McDonald’s are A. Quality of Service: McDonalds was very committed towards achieving customer satisfaction. It consistently looked to improve its product range. Few of those developments include taking orders in the drive-thru’ with hand held PDA’s, by which not only the speed of the service was improved but also the quality of service was improved. The idle time of the customer was reduced. B.   Quality of product: Another important area within the customer service and customer satisfaction is the quality of product. It is a very well-known fact, that for the success of a food industry, the key area is the quality. McDonald’s lead in the market share for such a very long period of time demonstrates its quality. C. Internal management: Internal management is a key area in the organisation and is mainly controlled by IT systems. IT systems developments are colossal, in every named field. Their developments within this environment are in the following sectors Reports, Base, Forecast and Setup. New Product / Process innovation Innovations of the mangers are the assets of the companies in the present scenario. Innovation enables one to see potential acquisitions through different perspectives. Apart from producing monetary gains, innovation provides a greater scope for the organisation to deal with. Innovation also provides an edge in being able to enter new markets faster and deeper. Innovation serves as a fuel for the companies to accelerate (Maglio, 2006). There are various factors which influence the position of a restaurant, as we discussed earlier all these factors could experience change by 2025. It is impossible to predict the outcome or the progress of an industry accurately. Most restaurants adapt to the changing scenario rather than pre-empting on the change and acting proactively. The company that builds a culture of innovation and is able to evolve with change is on the path to growth. The company that fails to innovate is on the road to obsolescence (Kandampully, 2000). McDonalds is experiencing fierce competition from the developing Asian and Indian economy. The ways to withstand these threats are also discussed. McDonalds is going back to the future. The burger giant is investing $2.4 billion in renovating 2,000 of their locations, including 400 in the U.S., and building 1,000 new restaurants in the style of the renovations that they are doing (Franchises, 2011). Based on the location of the restaurant the designs vary. There are three major styles into consideration which is the urban living, young and cheering and the fresh and vibrant (Jaunted, 2011). Environmental concerns over waste management have forced McDonalds to switch to biodegradable packaging as well as to reduce the companys greenhouse-gas emissions. The next 10 years will see a culture of adapting to more recyclable material used in packaging, for serving, and separate receptacle bins for cups, plastic lids and leftover food (Minyanville, 2011). As re-organizing a complete restaurant for 2025 specification is the scope of this assignment, few specific areas of development are selected. Facility Design and equipment are discussed in detail in this study. New innovative ideas and a road map to implement those ideas were also discussed. The key task is to analyse the customer expectations, innovations and apply creativity to the thought by developing a model of a restaurant for 2025. The population of the United Kingdom is projected to increase gradually from an estimated 59.8 million in 2000 to reach nearly 65 million by 2025, according to national statistics published by the government (Gad, 2011). 2.1 Facility Design and equipment: 2.1.1 Restaurant Design: Innovative design to suit 2025 requirements Restaurant design plays a critical role in attracting and retaining customers. At the same time, design must complement food preparation and service. Successful restaurant design shows how to incorporate your understanding of the restaurants front- and back-of-the-house operations into a design that meets the needs of the restaurants owners, staff, and clientele. Moreover, it shows how an understanding of the restaurants concept, market, and menu enables one to create a design that not only facilitates a seamless operation but also enhances the dining experience (Baraban, 2010, p.80-89). Successful restaurant design should be based on a complete feasibility study that covers the following ten areas (Baraban, 2010, p.95). Type of restaurant The Market Concept Development Menu Style of Service Speed of service The per customer-Check average General ambience Management philosophy Budget These points should be considered at start of a project, before arriving at layouts and specifications. Type of restaurant: The restaurant (McDonalds) is a fast food restaurant that needs to aid both take away and eat-in customers. In 2025 it is expected that the market will be expecting something really quick and fast food is one of the options to move forward. The Market: A good market analysis looks at main four components: potential customers, competition, location and economic environment. These factors have been discussed earlier. Concept Development: The assumption in this study is that by 2025, the population will rise by 6 million and in order to meet the demand, the organisation needs more space, quick service and value added service Menu: The food and menu are beyond the scope of this study and hence not discussed Style of service: Style of service in this design is considered to be carried over from the current style. Speed of service: It is for sure that the customer’s expectation will be rocketing over the next decade and the speed of service will have to be improved. The equipments that are suggested in the next section are assumed to meet the service speed target. Per customer check Average: The nature of business implies the per customer check average is not going to be more than  £50 and this suggests that the restaurant will have to make huge customer turn around to become successful. This is based on the inflation rate in 2025. General Ambience: The atmospheres that future managers are throwing into this design set up is eat-in and go type. As this will be apt solution for a fast food industry. Management Philosophy: Management is designed to be a central command centre, rather than having manager in each restaurant. This is to save cost and have a unified command centre with unique target. Each store is to be connected to the central command centre through which the person/Computer in command could see the status of the shop floor activities. A computer constantly monitors the sales, stock and cooking time and the command is provided to the shop floor where the robots are tasked to do the required amendments (Kandampully, 2000). Budget: The assumption is that the design would be implemented as a pilot project and there is sufficient budget to setup a whole new restaurant based on the requirements for 2025. Completed restaurant design: The design of the restaurant is assumed to be completed with the above assumptions, requirements and is available for implementation. The next task is to analyse and implement the newly designed restaurant. 2.1.2 Equipment:   Introduction of Technology and Robot As we may be aware with the increasing population across the globe, the future of McDonalds could be a robot making a ham burger reducing manpower and increasing speed of service (Myownspunk, 2011). It’s a well-known fact that technology is the future. The use of electronic gadgets or robots to operate manual devices such as in the automotive industry or for manual handling of raw materials using robots will be a common trend for that generation of 2025; the use of robots in the food industry will be a common trend in future. Creativity could be a solution to complex problems, the future could be robots taking orders; preparing and serving food in the most efficient manner possible. Figure.1 Cost estimate of installing a Robot in a fast food industry (McGrath, 2004, p.228). Certainly man power will be reduced with the innovation idea of robots doing these tasks. The product cost for robot is expected to be $34,215 for the first year and reducing in the subsequent years (McGrath, 2004, p.228) Considering the levels of education the future generations are going to embark on, retail low skills in-proficient job like preparing food and taking orders by the generation is not going to be desirable. The innovation of robots into this market could also increase the speed of service as fast food restaurants are well renowned for its speed of service.   No matter the laws for an industry may vary from country to country but when it counts to food hygiene the laws across the globe are similar and not only the government, even the public will be very much concerned about the hygiene. To an extent one can be certain that these hygiene laws are easily met by the implementation of technology (Maglio, 2006). Implementation The innovator will be the leader in the future. The innovator need not necessarily be a technical genius, but he must be able plant the attitude of innovation and nurture it.   Collaboration is essential; failure is an unwelcome but inevitable outcome. Innovation leaders are comfortable with uncertainty and have an open mind; they are receptive to ideas from very different disciplines. They have organized innovation into a disciplined process that is cyclic and systematic. And, they will have the tools and skills to pinpoint and manage the risks inherent in innovation. Not everyone has these attributes. But companies cannot build a culture of innovation without cultivating people who do (Gadrey, 1995). When restaurateurs evaluate whether to adopt technology-based service innovations, they must consider not only the costs and benefits of that technology, but also the customers’ reactions to the procedural changes with respect to the innovation. Technology that fails to build customer satisfaction may not be worthwhile, no matter how much it reduces labour costs (Gann, 1998). In order to implement the above facility design and equipment change, John Kotters highly regarded book Leading Change (1995) was referred and a helpful model for understanding and managing change was used. John Kotter’s eight steps have been applied to McDonald’s implementation program as below: (1) Create Urgency According to John Kotter 1995, 75% of a companys senior management needs to support the change. In this case, a proposal is to arrange for a team meeting and present the change management plan and make sure that every team member is aware of the new facility design and the (technology of ) robot they are going to work with. This can involve a complete SWOT analysis, scenario planning and full deployment of all the strategic planning tools. Results of analysis and early conclusions should be thoroughly tested with informed third party opinion and a wide cross section of all stakeholders (Johnkotter, 2011). (2) Form a guiding coalition After all the team members are aware of the changes, its time to form a team to instigate the implementation process. Building the momentum for change requires a strong leadership and visible support from key people within the organisation. The coalition will involve a wide representation of the formal and informal power-base within the organisation (Johnkotter, 2011). By working as a team, the coalition helps to create more momentum and build the sense of urgency in relation to the need for change (Johnkotter, 2011). (3) Develop a vision and strategy A drive for change without a clear focus will rapidly fizzle out unless one develops a clear vision of the future that is accompanied with a clear description about how things will be different in the future (Johnkotter, 2011). The vision for this project is a)   implement the new facility design b)   introduce robot technology to make and distribute burgers Strategy is to have the implementation completed in set time and understand the root cause of any issues in this pilot programme so that future application of similar concepts could be done with ease. (4) Communicating the vision It is equally important to communicate the vision to the individuals who are involved in the implementation of the McDonalds new vision. This goes beyond the â€Å"special announcement† meetings and involves frequent and informal face-to-face contact with the people by the manager and by all individual members of the coalition (Kotter, 1995, p.110). There will be long list of items that has to be passed between the team which include schedules, training material, new procedures etc. The manager of the future will be responsible for communication and should make sure that the changes are received by every individual in the organisation. (5) Enabling action and removal of obstacles This is the stage where the change initiative moves beyond the planning and the talking and into practical action as you put supportive structures in place and empower and encourage your people to take risks in pursuit of the vision (Johnkotter, 2011). Regular meetings in which the reports are reviewed will provide better means to identify and remove obstacles and inhibitors to change. These may arise in processes or structures that are getting in the way. This may also involve addressing resistant individuals and/or groups and helping them to reorient themselves to the requirements of the new realities (Johnkotter, 2011). (6) Generating short-term wins This is important as a counter to critics and negative influencers who may otherwise impede the progress of the implementation initiative (Kotter, 1995, p.85-90). In this implementation program the short term goals could be easily identified. It is also important to recognise and reward all those people who make these early gains possible (Kotter, 1995, p.43-47). Every week a team member will be selected based on their performance and rewarded. This will motivate them and result in more productivity as team members will compete to gain that honour.   (7) Hold the gains and build on change Kotter argues that many change initiatives fail because victory is declared too early. An early win is not the end of a journey (Kotter, 1995, p.67). When a road block is seen on the implementation program the issue could be resolved by changing the plan or changing the viewpoint. Bringing in new people into the team will be a beneficial idea as the fresh eyes will capture something which was missed by the existing team (Kotter, 1995, p.73).   (8) Anchor changes in the culture John Kotter says that for any change to be sustained, it needs to become embedded in the new â€Å"way we do things around here† – that is the culture.   McDonalds has been seen as a fast food chain. It is really important to implement the change in a way that the trademark is not affected by the change. A major part of this is to articulate the connections between new behaviours and organisational success. To benchmark with organisations that have succeeded as a result of change and innovation and replicate their success (JohnKotter, 2011). References: Baraban, R.S. (2010) Successful Restaurant Design. London, John Wiley Sons. Caterersearch (2011) McDonalds restaurants. [Internet], Leeds, LeedsMetropolitanUniversity. Available from: mcdonalds.ca/en/aboutus/faq.aspx [Accessed 21st June 2011]. Dabholkar, P.A. (1999) Consumer evaluations of new technology-based self-service options: An investigation of alternative models of service quality. International Journal of Research in Marketing, (13) 1 February, pp.29-51. Franchises (2011) McDonalds. [Internet], Leeds, LeedsMetropolitanUniversity. Available from: http://franchises.about.com/b/2011/05/26/mcdonalds-renovations.htm [Accessed 21st June 2011]. Gadrey, J. (1995) New models of the innovation. How services benefit industry. International journal of services industry management, (6) 3 March, pp.4-16. Gann, D.M. (1998) Learning and innovation management in project based service enhanced firms. Journal of innovation management, (2) 4 September, pp.431-454. Jaunted (2011) McDonalds Fututre [Internet], Leeds, LeedsMetropolitanUniversity. Available from: jaunted.com/story/2009/3/6/63325/49594/travel/What+Will+McDonalds+Look+Like+In+the+Future%3F [Accessed 21st June 2011]. John Kotter (2011) Stratagy and Change. [Internet], Leeds, LeedsMetropolitanUniversity. Available from: strategies-for-managing-change.com/john-kotter.html [Accessed 22nd June 2011]. Kandampully, J. Customer loyalty in hotel industry: the role of customer satisfaction and image. International journal of contemporary hospitality management, (12) 6 June, pp.346-351. Kotter, J (1995) Leading Change. Boston, HarvardUniversity Press. Gad (2011) Population prediction. [Internet], Leeds, LeedsMetropolitanUniversity. 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ALTERED HEALTH STATUS AND HEALTH PROMOTION IN MENTAL HEALTH NURSING Essay

ALTERED HEALTH STATUS AND HEALTH PROMOTION IN MENTAL HEALTH NURSING - Essay Example His unusual behaviours included the following. He entered without a licence and pointed a gun at a shop assistant. He stabbed a friend during an unprovoked argument. Also, he committed the offence of burglary, and his fingerprints were found at the scene of the crime. Mr. Abouja was imprisoned and then later transferred to a forensic ward due to mental illness. While in the forensic unit, Mr. Abouja suffered a cardiac arrest secondary to a bi-lateral massive pulmonary embolism. After having suffered a pulmonary embolism, Mr. Abouja should be assessed for further risk in the near future. â€Å"Confirmation of pulmonary embolism (PE) must be followed by risk stratification in order to obtain information on short-term prognosis and determine the need for more aggressive therapy such as thrombolysis or surgical interventional embolectomy† (Konstantinides, pp. 69). The medication Mr. Abouja has been placed on is Warfarin, also commonly known as rat poison. The levels of Warfarin ha ve to be carefully evaluated, to ensure that the patient is not poisoned himself. Basically, Warfarin is most likely going to be used for a lengthier amount of time in order to treat Mr. Abouja’s illness. â€Å"A vitamin K antagonist such as warfarin should be considered for long-term treatment† (Stein, 2007, pp. 129). There is a timetable for how long the Warfarin should be used. â€Å"Initial treatment [with Warfarin] is usually for a minimum of three to six months† (James, Ortel, & Tapson, 2007, pp. 42). However, the nurse should make sure â€Å"In healthy subjects, sildenafil alone or in combination with warfarin or aspirin did not affect bleeding time or prothrombin time. However, in a recent study, a transient prolongation of bleeding time 1 hour after administration of 100 mg of sildenafil was demonstrated† (Broderick, 2005, pp. 215). Therefore, bleeding complications are possible when taking Warfarin. Generally, Warfarin is used in these types of situations such as the one in which Mr. Abouja found himself in. â€Å"[Warfarin, also known as Coumadin, is] used to prevent the formation of blood clots in the heart and to prevent stroke in patients with conditions such as atrial fibrillation and atrial flutter†¦[usage] must be carefully monitored by a [regularly-administered] blood test†¦Ã¢â‚¬  (Cohen, 2010, pp. 196). Mr. Abouja was given Warfarin for the Pulmonary Embolism. He is being given 3 mg of Risperdal (Risperidone) on a daily basis, a commonly-used antipsychotic. Some of the side effects Mr. Abouja is suffering, among others, are muscle weakness and sexual dysfunction. Mr. Abouja’s mother had a history of heart disease or PE; his father refused to be in touch due to his offences. Mr. Abouja was born in Angola. 2. Identify appropriate assessment tool/framework and provide rationale for ?your choice of tool/framework. (200 words) The assessment measures which would be appropriate to use as a framework f or care would be: 1) a physical assessment; 2) a psychological assessment; and 3) a emotional assessment. The patient had a physical assessment completed upon him. This physical assessment is rationalised by the fact that he needs to have an intervention for any physical problems that may come up since he has just had a major health issue with the cardiac arrest. Interestingly enough, Mr. Abouja had no pain in his upper left arm, which is recognizant of having heart problems—namely, risk of cardiac arrest. The physical assessme

Perception of female leaders Thesis Example | Topics and Well Written Essays - 250 words

Perception of female leaders - Thesis Example This ideal would be wrongfully assumed to be true in general. In the same way that it is erroneous to presume that the current position of women has continued to progress backwards. In many industries it would be accurate to suppose that the trend of having ‘boy’s clubs’ is still at play. Businesses such as Information Technology and others that are similar in nature are well regarded as a majority men’s field. The ratio of men to women in population would no doubt be in favor of men. In such cases, it can be assumed that women will have a more arduous task in proving themselves in the workplace before they can gain the respect and opportunity to work in a higher position. This difference in gender is something that cannot be disregarded as such remains to be an underlying factor in and thus regarded deliberately in this paper. Women are identified towards what can only be regarded as instinctive leadership style in comparison to a more practical problem solving approach employed by men. This is not to say that one is extensively better than the other or vice versa. What it merely indicates is that there is a difference, nothing more and nothing less. Men and women are coexistent upon one another and both are fundamental in the workplace and in the broader spectrum of life. This is to say in a deductive manner that as constantly and as our creation suggests that men and women complement each other. In history, as the man hunts, the woman prepares the game and serves it to the family. Suppose that in the present the woman hunts and proves that she is as efficient, would her labor be regarded as any different? The answer is obvious and the answer is no. Just as the man was able to provide food in the table, the woman, in however diverse her hunting style may be supplied the same and equal nourishment for the household. If she turns out to be a good

Thomas Hobbes Leviathan Essay Example | Topics and Well Written Essays - 1500 words

Thomas Hobbes Leviathan - Essay Example This essay stresses that coping with the state of nature for both the artificial and natural human requires adaptability in coping with interactional challenges, in addition to moral challenges. Nature is considered sovereign as it is the art of God’s creation and governing of the world. Interaction with nature, therefore, requires some adaptability and coping skills for both the natural and artificial man. The artificial and the natural humans must adhere to certain conditions provided by the natural law for easier interaction and/or coping. Hobbes describes the artificial human or commonwealth as sovereign over the natural man, contrary to the fact that the natural man is considered sovereign over other artificial things. This paper makes a conclusion that the statement is misguiding due to the clear relationship between the divine, civil and natural laws. The natural law is all-inclusive to the human species, with God as the sovereign power or authority. The moral law of nature provides the human with character transformation and adaptability, happiness, virtues, and the imperatives and moral obligation of good and evil, for the good of the human. Hence, there is a clear difference and distinction between natural justice and the legal conventions of both the natural and artificial man. The critics to Hobbes’ work, such as Gauthier, are a clear indication of the discrepancies and contradictions in his work, and lack reliable evidence to support his conclusions and perceptions on the natural law.

There Are Many Recent Pieces The Children Act Physical Education Essays

There Are Many Recent Pieces The Children Act Physical Education Essays The Children Act 1989, States that it is the authorities duty to safeguard children and promote their welfare. This is to say that children from all backgrounds that are vulnerable to harm should be protected. Also their general way of life should be shielded from those who threaten to harm or impair it in anyway. To protect the children from such people or events, such as abduction, social workers (sometimes known as child protection officers) have been employed. Their primary goal is to focus on the safeguarding of children and for many years these workers have also provided additional support to families and family members that feel they are vulnerable. CAFCAS along with social work is another agency that is employed in the welfare of children dealing with courts to find solutions to families differences when parents separate. Their goal is to reunite parents with their children and also to provide the children with a better way of life. This is either by shielding them from an ab usive parent or, by helping the single parent gain access to finances to help support the child. Another feature of this legislation is to enable the courts to decide on what is best for the child, if that choice is more beneficial for the child in their current situation. This could in extreme cases involve the removal of the child from their parents and be placed into the care/foster care system; this is always the last resort. CAFCAS along with the clerks of the court help support the magistrates or judges in this matter as it is also their responsibility to help provide courts with relevant information as to the best suitable course of action to take. This would normally take place after a number of consultations, observations or a combination of both with the childs parents. This responsibility could also be delegated by CAFCAS to other organizations such as Pro Contact who act on behalf of CAFCAS and are obliged to follow strict codes of practice which revolve around all varieties of child protection legislations. This enables CAFCAS to pursue more pressing engagements in volving children who are more vulnerable to harm rather than using those resources for a family dispute over something such as access to a child. Finally, The Children Act 1989 also recommends that in the best interest of the child concerned the court should where applicable not delay in the hearing of a case surrounding the welfare of the child. It, furthermore, goes to suggest that any form of delay could have detrimental effects typical of a long and drawn out dispute. Although the court is responsible for the schedule of the hearing, it does, however, give the judge or magistrate if needed (and beneficial to the welfare of the child) the power to prolong any hearing it deems fit. The above is an example of one countys interpretation of The Children Act 1989. Within the UK the legislation itself is full policies for bettering the welfare of at risk children. It, in addition, gives clear guidelines for authorities and agencies to adhere that are involved in any such case of a susceptible child. It should also be made clear that the agency CAFCA workers, mentioned above, are formally trained in social work and/or probation services. (http://www.direct.gov.uk/en/CaringForSomeone/CaringForADisabledChild/DG_10027594, The Adoption and Children Act 2002 was brought into effect in 2005. It was brought in to replace the Adoption Act 1976 and Children Act 1989 the new Act enabled people who we previously excluded from adopting a child through the likes of sexuality and smokers along with other such things which could pose a risk to a childs health or wellbeing. The courts and other agencies (the likes of social workers for instance) deemed these examples to be improper and unhealthy for the child to be surrounded by, so a no blanket ban clause within the legislation made adoption accessible to all. With this new no blanket policy also made way for another key feature which was to banish selection by area (also known as the postcode lottery) this meant that people from less affluent backgrounds were now eligible to adopt and not just the more wealthier people who would have been one of the main criteria for adoptions as this gave for a better living for a child who previously had nothing. Another feature within this Act whereby a special guardianship law was put into place allowed children to stay in contact with their birth parents, this feature of the legislation is conducted with social workers present and allows for close monitoring of relationships between parents and children, the outcome of these visits would be drawn up in a report and regular assessments would be carried out to check suitability of re-introducing the child back with their birth parents on a permanent basis. The assessments carried out on both the parents who may have had a history of drug or alcohol abuse and child who may have become troublesome because of this environment in which they were living in is essential to ensure that a suitable and caring environment can be sustained allowing the child to grow with the love and care in which every child should be accustomed to. Whilst the child is apart from their maternal parents the child would stay housed with either, foster carers or within c are institutions. It is also the duty of the social worker to provide the foster parents with the support they need to ensure the childs welfare and education is met and kept at a suitable standard. Suitability of a child to perspective adoptive parents has long been an issue as some children, especially those forced to move, tend to rebel against the authorities decision to re-house them. They do this by showing disregard to the temporary carers and in extreme cases by running away from home or possibly stealing and involving the police. To some new foster parents some of these situations can be unbearable and require that the child is removed and re-housed elsewhere this, would be especially true if the foster parents have children of their own and see the bad influence this child may have upon their own children. If this was to be the case then it is the duty of the social worker to put a plan into action to rectify the issue, and also as previously mentioned if the police were to be involved it would be the social worker that would deal with these issues liaising with the police and the courts to find a resolution that would best serve the child. This more information policy within the legislation attempts to put an end to these kinds of events from happening and it is considered to be one of the most important parts of the legislation as a suitable pairing of both adoptive parents and child can only best serve and aid the child in the future. (http://www.courtroomadvice.co.uk/adoption-children-act-2002-overview.html)

John Higgins Essay

The Central Issue: Why did Prescott think that his executive assistant, John Higgins, lost his effectiveness in representing the U.S parent company, while also having a strong identification with the Japanese culture? Why is Prescott having conflict dealing with Higgins about the issue? Recommended Course of Action: Prescott and Higgins should come to some kind of mutual understanding with each other as soon as possible Basis of Recommendation: Prescott and Higgins attitudes towards implementing the U.S personnel policies in the Japanese operation were both different. Prescott and Higgins should come to a mutual understanding, which would be important for the organization in resolving the conflicts between the two, to ensure the operations are running smoothly. The situation for both companies were to work together to increase the international market segment of Weaver, but before all of that, Prescott spend over 25 years in weaver, which he served in other countries and has a better experience than Higgins in handling international issues. Prescott sees Higgins activities are not for benefiting for the organization but rather for personal objectives. Higgins should not forget that he’s representing the U.S parent company in Japan and not his deep interest with japan itself. Therefore, Prescott being so high up in the corporation, he should really have an understanding of how to manage conflict and manage change in a corporation. Reasonable Alternatives: 1) Prescott should fire Higgins. This is rejected because that would not solve any kind of problem. Firing Higgins would make the company one less employee shorter overseas, plus would not help Prescott nor Higgins with any leadership skills that need to be worked on. 2) Prescott should relocate Higgins. This is rejected because that would result in more problems occurring. Higgins knows that there is issues going on and for him to be moved out of his culture that he has deeply spent time studying and growing with, would cause him more ineffectiveness in the company. If Higgins doesn’t want to move, he might want to resign which wouldn’t solve their first problem or help Prescott with his problem of fixing the issue for next time. 3) Prescott should just leave the issue, until it gets worse. This is rejected because this would make things worse. It will cause the company a deeper hole then they already are in with issues. Talking to one another about their problems is the whole reason of doing business together, if not then why work together. Letting things go will not help Prescott become a better manager and also won’t help Higgins in the feedback category. Coming to an understanding would help both out with what is going wrong instead of leaving the issue. Significant Factors: 1) Vision 2) Leadership Ability 3) Business Goals 4) Relationship 5) Positivity Discussion: Vision: One main issue I know why Prescott is having trouble dealing with Higgins attitudes towards his effectiveness of the U.S parent company is Vision. First off, the vision of the joint venture seems to only be viewed and felt by the head management and not a unit. For example, Prescott has his very own vision in looking at the company from the U.S standards and business side of things and Higgins has a way of looking at the company in the Japanese way. Both these visions are two different visions and a company cannot be successful in this matter. The reason behind this is Higgins having personal activities with the japan culture itself that when it comes down to the business part of things, he will think like a native of the country rather than a native of the U.S parent business. Another example of Vision can be used towards the employees. If the employees of the japan branch are not meeting the vision of the top management, then the business will not go hand in hand and will slow the process of the company down, may be the reason why Prescott thinks Higgins is losing effectiveness because his vision of his employees are lower standards than the top management. Once every employee is on page and is working towards one vision, the company can fulfil any method or goal they can. Leadership Ability: Leadership in any company is one of the most important things to becoming successful. As a boss or even part of the management team, having leadership is one that takes pride in what he or she does and leads their employees to success anytime they can. In this situation about Prescott and Higgins, leadership needs to take stand for both of them. In the case, they explained that Prescott seen a change in Higgins work ethic towards the Japanese employees and U.S parent company. Some reasons for this were him becoming really in depth with the Japanese culture and even being really social at work rather than making decisions. The case also stated that he would attend marriages of coworkers, which meant he was super close and had a relationship with them. Leadership plays a huge role in this with Higgins separating work form his personal life. Leadership in this situation would be to not make friends that will neglect you from your everyday work but still able to hold a relationship with them. For Prescott, his leadership should be shown in a better way as of dealing with the situation of Higgins. Prescott needs to have good leadership to confront Higgins and go over a understanding about what needs to be done on the job and what personal activities should be separate from work and what not. Prescott needs to  identify the actual reasons behind their conflict and remove them to have a smooth system. Business Goals: Adding on to the last topic of Leadership, Business Goals can fit right after that. After coming to a certain agreement, Prescott and Higgins should provide each other with certain business goals they have of their own, along with an appropriate model from their teams to follow as well. Having goals can be the motivation factor of Higgins and Prescott to achieve what they want in their employees and push each other to reach them. There is many examples that can be used here, but some minor ones are: show up on time every day, wear the right dress wear and also avoid as much personal talk and issues outside of work so that way the company can perform more. Having these goals for yourselves, yet alone your employees can surely reflect their work. The reasoning behind this is that Higgins is adapted to the Japanese culture so much, instead of finding personal issues with the culture, use it to engage with the Japanese population at the work place to get them to follow the right rules and ways to adapt what it is he is doing. If they see someone like Higgins who has a lot of Japanese culture in him, they will feel more comfortable to relate to him, rather than draw away. Relationship: Relationship in this situation is probably key. Relationship usually can mean any type of communication or activity to engage with one another. In this situation it’s about Prescott and Higgins. I feel that Prescott and Higgins need to have a good relationship with each other so that way when issues arise, they can be comfortable talking about it rather than assuming what each other is doing. For example, Prescott feels that Higgins is drawn away from the U.S Parent company and teaming up with the Japanese because he has spent more time engaging himself in the Japanese culture that it only feels right to work with them. This pushes back on having a vision and staying with it. Since he has the Japanese culture in him he wants the have a vision of a Japanese’s native, which isn’t going well with Prescott. So having that relationship to actually have a meeting and talk to Higgins on what it is that Prescott is worried about can help the company in the long run. Posi tivity: Last but not least, Positivity. Positivity can be used in a way for Prescott. If his behavior as a boss is perceived as negative by his employees, that could mean the employees would not listen to him or any other boss of this matter. Under the organization structure that they use with employees being in other countries and not face to face, tone of the voice and compliments could be helpful in motivation or just coaching of the employees. I recommend that Prescott can use some positive feedback towards his employees and also using realistic thinking process when dealing with Higgins in the future. If you think negative of a worker, for example Higgins, the discussion can lead to more things arising that you feel negative towards rather than having a positive mindset. All in all, I fell these five factors can surely help out what it is that Higgins is doing and it could also help out Prescott in the thinking and leadership process of the understanding that him and Higgins need to hav e in order to have a smooth operations system.