Portfolio Management and Strategic Management Paper Essay

The portfolio management concept is critical to supporting an organization’s mission and goals. Portfolio management will determine which projects will be pursued when the budget or resources are limited. Organizations sometimes find that they have many projects they would like to complete but there will be times that it is not possible. Portfolio management will review the projects that not only are being worked on but also review any possible pending projects and determine if there is money and resources to continue. They will then prioritize projects and eliminate any that are determined wrong for the organization. According to Kerzner, H. (2013), portfolio management focuses attention at a more aggregate level. Its primary objective is to identify, select, finance, monitor and maintain the appropriate mix of projects and initiatives necessary to achieve organizational goals and objectives. Project management focuses on a particular project that has already been recognized by portfolio management as a project that will support the mission and goals of the organization. Portfolio management will also be looking at what financing will be available for each project and also be looking out for the right mixture of projects. It wouldn’t be in the organizations best interest to only support projects that would be geared towards one goal of the organization. They need to make sure that they are looking at every goal or mission and balancing out the projects. There can be issues with portfolio management. In project management we have discussed using the experts in the organization to help with the planning and in many cases the implementation of a project. With portfolio  management the ones making the decisions may not have the expertise, knowledge and information and therefore could decide a project isn’t a good choice when in fact it should be considered. There could be conflicts, unwillingness to share, differences in thought as well as certain department loyalties that may cause incorrect decisions. Strategic management refers to management who are goals-oriented in which the mission and planned achievements of an organization are clearly set out and all management processes are designed and monitored toward reaching the organization’ overall goals, (â€Å"What Is Strategic Management†, 2011). A mission statement within the organization will set the goals of the organization. References Kerzner, H. (2013). Project management: A systems approach to planning, scheduling, and controlling (11th ed.). Hoboken, NJ: John Wiley & Sons. What is strategic management. (2011). Retrieved from http://www.managementskillsadvisor.com/what-is-strategic-management.html

A Comparative Look at the Japanese Healthcare System

A Comparative Look at the Japanese Healthcare Systems The Japanese health care system is one of the most efficient in the world. In fact, it is so efficient that the people of Japan have the highest life expectancy rate of any other country in the world (The Economist, 2011). Life expectancy at birth was 83 years in 2009 ; 79. 6 for males and 86. 4 years for females (Wikipedia, 2012). The Japanese government has been able to accomplish this through strict regulations and policies.Although this system has worked for the people of Japan since its institution in 1961, heir healthcare system is now facing financial ruins if changes are not implemented in the near future. It is my intent to explore why the Japanese health system has been able to function in a cost effective way and how it affects health outcomes. Japan has a universal health system called kaihoken (The Economist, 2011). Citizens are required to get insurance. Most people get it through their employers and are responsible for paying10%, 20%, or 30% of their healthcare costs depending on their family size and income.The government covers the difference (Wikipedia, 2012). If a itizen cannot get coverage through an employer then they have the option of participating in a national health insurance program that is managed by the local government (Wikipedia, 2012). Japanese citizens are free to go to any physician or healthcare facility that they want and cannot be denied treatment (Wikipedia, 2012). Because of this freedom, Japanese citizens visit the doctor four times more than the average American does in a year (Wikipedia, 2012). Japan has strict regulations on the healthcare system that allows them to keep their costs down.Japan has about the owest per capita health care costs among the advanced nations of the world, at around $2,873 (Arnquist, 2009). They are able to do this for many reasons. The first being they set a fixed price for services and medications with physicians every two years. This way there is no question about what their compensation will be (Harden, 2009). Also, administrative costs are four times lower than they are in the United States, partly because insurance companies cannot set rates for treatment or deny claims. It is against the law for them to make profits or advertise to attract low-risk, igh-profit clients (Harden, 2009).The downside to all of this is physicians in Japan are overworked and underpaid, making an average of about $125,000 by the time they are midway into their careers (The Economist, 2011). There is evidence that physicians and hospitals compensate for minimal reimbursement rates by providing more services. This is acceptable because the fee-for-service system does not limit the supply ot care comprehensively. Japan's physicians oversee almost three times as many consultations a year as their colleagues in other developed countries do. There s also a shortage of physicians within Japan, especially those who practice specialty medicine. In Japan, physicians who practice primary care makes more money than their colleagues who practice highly specialized care (Arnquist, 2009). This is the complete opposite from American doctors. Some other issues that the Japanese healthcare system faces are an aging population and an overutilization of services. As stated earlier, Japan has the highest life expectancy rate in the world. This also means that the government will have to take care of more of their citizens' medical eeds for an extended period of time. It is estimated that by 2050 two-fifths of the population will be over the age of 65 (The Economist, 2011).With an aging population and low birth rates, this puts a substantial strain on government spending. Another problem that Japan faces is an overutilization of services. By this I mean citizens are much more likely to go see a physician for minor illnesses because there are no restrictions on which they can see at any time, without proof of medical necessity and with full insurance coverage (Henke et. al. , 2009). Since everyone has access to edical care, long wait times in physician offices and overcrowding in emergency rooms are commonplace.A report has shown that more than 14,000 emergency patients were rejected at least three times by hospitals in Japan before getting treatment (Wikipedia, 2012). The average length of a hospital stay is two to three times as long in Japan as in other developed countries (Henke et. al. , 2009). In contrast, the U. S. has a lower life expectancy than Japan at 78. 7 years (CDC, 2010). This is in large part to our high obesity rates and unhealthy lifestyles. The older population, those persons aged 65 years and older, makes up about 12. % of the U. S. population (AOA, 2013).Both Japan and the U. S. have seen declines in their birthrates. But unlike Japan, Americans are less likely to seek medical care for minor ailments such as the Japanese. This is due to the fact that a large number of Americans have little to none insurance coverage. Those that do have coverage often have copays. Another vast difference between the two healthcare systems is the insurance regulations that many Americans encounter. It is not an uncommon practice for insurance companies to deny patients claims and not cover certain medical treatment.The patients are then forced to appeal the claim, pay out of pocket, or simply do without the treatment that they needed. One would think that because the Japanese have so much access to health services that their health outcomes would be above average. This is not always the case. The physician shortage means long wait times and shorter consultations. Those that have complicated medical cases often do not get the proper amount of medical attention (The Economist, 2011). The Japanese are only a quarter as likely as Americans to suffer a heart attack, but twice as likely to die if they do (The Economist, 2011).An oversaturation of hospitals also affects health outcomes. Research has shown that health outcomes are better when the centers and physicians responsible for procedures perform large quantities of them. Because Japan has so many hospitals, very few are able to achieve this (Henke et. al. , 2009). The small scale of most Japanese hospitals also means that they are inadequately equipped with intensive- care and other specialized units. Very few Japanese hospitals have oncology units. Theretore, a number ot ditterent departments in each hospi tal deliver care tor cancer Henke et. l. , 2009). In the U. S. physicians and nurse are required are certain number of Continuing Education hours every few years in order to renew their license. This helps them stay current with medical practices and sharpens their skills. In Japan, once a doctor or nurse is licensed, they are no longer required to further their education. There is no central agency oversees the quality of these physicians' training nor are there criteria for board certification in specialties (H enke et. al. , 2009). Despite some flaws, the Japanese healthcare system is able to do many hings well.For one, the Japanese system is quite proficient in chronic care, particularly due to the fact that it has so many older people. Along with appropriate medical care, Japan also provides long-term care to all older people who need it through a public insurance system that started in 2000 (Henke et. al. , 2009). In Japan, a person's income does not influence the quantity and quality of medical care that they receive. Premiums and out-of-pocket costs are minor concerns for most people, and those whom have a low-income and the elderly receive subsidies to afford care Arnquist, 2009).

Grapvine Communication

INTRODUCTION Grapevine communication is the informal communication network within an organization. Grapevine is used to spread information bypassing the formal communication structure. Just like the grapevine plant: it spreads in random ways and it goes where it can. It is formed by individuals and groups in an organization. The people in the groups have something in common that links them together. A person can belong to one or more groups. A grapevine communication is a form of informal communication by which people communicates each other without any formal line of communication.It’s called Grapevine because like that of a grape vine it’s impossible to find the origin of information which results in spread of rumours. Grapevine communication is a form of informal business communication, which develops within an organization. It means gossip, usually gossip that spreads and covers a lot of ground (a lot of people), much like vines do. ACKNOWLEDGEMENT At first we desir e to express our deepest sense of gratitude of almighty Allah. We are thankful to our University (Leading University, Sylhet) and the respective authorities for providing us an opportunity to take our BBA program.With profound regard we gratefully acknowledge our respected course teacher Md. Shamimul Islam for his generous help and day to day suggestion during preparation of the assignment. He is so much an inspiration and guidance to us that we are, short of words in expression our gratitude. We like to give thanks especially to our friends and many individuals, for their enthusiastic encouragements and help during the preparation of this assignment by sharing ideas regarding this subject and for their assistance in typing and proof reading this manuscript.And finally, we thank to all of our group members as they all were serious and prolific towards making this assignment. Once more time to Sir, we owe more than we can mention†¦Ã¢â‚¬ ¦mostly for teaching us to see the silver lining in every hard work. OBJECTIVE OF THE STUDY We have prepared this assignment to know about the grapevine, it’s positive and negative impact. Actually what the grapevine is and what are the impact of grapevine in any organization. We mainly tried to find out whether grapevine is helpful or it is harmful for the organization’s progress. METHODOLOGY OF THE STUDYIn this assignment we have collected different information from both primary and secondary sources of information. We collected different data from different books but mainly by browsing internet (secondary source). We paid more attention to secondary source to collect updated information. LIMITATIONS OF THE STUDY In this assignment we tried to find the effect of grapevine in the organization but didn’t get enough information on this topic. Because of the scarcity of information from primary sources we have to depend on secondary sources. DESCRIPTION OF THE TOPIC DefinitionIn the word of Keith Davis, à ¢â‚¬Å"Grapevine is basically a channel of horizontal communication, for its only people working at the same level of hierarchy who can informally communicate with one another with perfect ease. † Formal vs. Informal Channels of Communication Every organization has a formal communication system. This formal system provides information regarding the organization to the employees through different media. The formal network, made up of memos, reports, staff-meetings, department meetings, conferences, company newsletters, official notices, is highly documented and as such has very little chance for change.However, nearly all of the information within the grapevine is undocumented and is thereby open to change and interpretation as it moves through the network. â€Å"The informal organization is less permanent and less stable because its leaders and patterns of action change readily. † This occurs because of the dependency of the network on personalities, whereas the formal n etwork is set up through structured policies nondependent on individuals. The grapevine is flexible and personal and can spread information faster than the formal communication channels.The grapevine is also capable of penetrating even the tightest security because it cuts across organizational lines and deals directly with people in the know. Bosses who chose not to pay attention to the grapevine have 50% less credible information than those who do. It exists because of excessive structuring of formal work flows and the excessive channeling of information flows. It is fed by personal apprehension, wish fulfillment, retaliation, and gossip. Surprisingly, most researchers have found that most grapevine information is either true or has within it a kernel of truth.How Accurate is the Grapevine Allport and Postman's research indicated that â€Å"most rumors start as a report of an actual episode – that is to say, with someone's perceptual experience of an event which he deems o f sufficient interest and importance to communicate to others. Once this central theme, the actual episode, has been accepted there is a tendency to distort subsequent news or events in order to make them consistent with the central theme. However, Keith Davis reports from his research â€Å"that in normal business situations between 75 percent and 95 percent of grapevine information is correct. In general people tend to think the grapevine is less accurate than it is because its errors tend to be more dramatic and consequently are more impressed on one's memory than its day-to-day routine accuracy. In a normal work situation, upwards of 80% of the information that comes over the grapevine is accurate. While the day-to-day accuracy may be good, people believe the grapevine is less accurate because the times it is wrong are more dramatic. A communication may be 90% correct in details but that last 10% is often the most important part of the message.Messages from the grapevine are of ten lacking in all the details so that the message is subject to misinterpretation; while the grapevine generally carries the truth it seldom carries the whole truth. An interesting note about the informal communications network is that an estimated 80% of grapevine information is oriented toward the individual while 20% concerns the company. Allport and Postman discuss, in their book, the changes that occur as a rumor passes along the grapevine. The central theme may be resistant to change, however crucial details necessary for understanding the true situation keep being deleted.At the same time the most dramatic details keep being exaggerated each time the rumor is repeated. So as the rumor moves along it begins to appear as some sort of shrinking missile as it keeps getting shorter and more pointed in flight. This may sound very simple, however we should remember that â€Å"the grapevine is fast-paced and generally moves, free of organizational restraints, by word of mouth. â₠¬  Factors Affecting Grapevine's Operation Several additional factors affect the operation of the grapevine. (1) In wartime, the conditions for rumor are optimal.Military events are of the greatest importance. (2) The greater the homogeneity of the organization, the better the grapevine will operate. (3) Rumors prosper best where formal communication is poor. They thrive in an environment where employees are not kept informed about anything that may be important to them. (4) They perform best in informal social contacts but can operate as effectively as a sideline to official meetings. In a poorly managed organization they can chip away at morale and fuel anxiety, conflict, and misunderstanding. 5) People start and spread rumors to enhance their status, fill gaps in social conversations, and avoid suspense over suspected events. This activity increases during times of stress, uncertainty, and in the absence of news. Frederick Koenig, a sociologist who studies rumors, believes that people listen to and pass a rumor because it satisfies some need. This is why the nature of people involved is important. Different people have different needs and rumors†¦ a) may circulate because they are interesting or a source of diversion.The valve can be the content of the message or the state of the group. b) can pull together events and fill in the gaps to make sense and provide explanations for what is going on. c) can validate and support a point of view d) reconcile one's psychological state with what one sees as actually going on. e) are a means of getting attention. f) are a way of manipulating situations. The idea of some person or group deliberately starting a rumor to serve selfish ends is frequently suggested. Types of Grapevine Rumors can be divided into four categories.The categories are- 1. Wish fulfillment rumors 2. Bogey rumor 3. Wedge drivers rumors 4. Home stretchers rumors Wish fulfillment rumor These express the wishes and hopes of those who circulate rumors and these are the most positive and they help to stimulate the creativity of others. often solutions to work problems are a result of employees verbally expressing desire for changes. These improvements sometimes result in increased efficiency for certain departments within the organization. Even though the tone is positive they still represent employee concerns. Bogey rumorBogey rumor comes from employees' fears and anxieties causing general uneasiness among employees such as during budget crunch. In this case, employees will verbally express their fears to others. These rumors are sometimes damaging, such as a rumor about possible lay-offs, and need a formal rebuttal from management. Wedge Drivers rumor Wedge Drivers divide groups and destroy loyalties. They are motivated by aggression or even hatred. They are divisive and very negative rumors. They tend to be demeaning to a company or individual and can cause damage to the reputation of others.A wedge driver rumor may be s omeone at x Company saying that v Company serves worms in their hamburgers; or in another context, a school-age child telling friends that another child has AIDS, or some other tale, like â€Å"Louise, the office manager, was seen the other day alone with that young new accountant. They were in a car together leaving Motel Six. † or one may spread the word that â€Å"Mary got the promotion because she is sleeping with the boss. † Women are more likely to be attacked with the sexual gossip. Home stretchers rumorThese are anticipatory rumors. These rumors occur after employees have been waiting a long time for an announcement. There may be just one final thing necessary to complete the puzzle and this in effect enhances the ambiguity of the situation. Now we will look at how the message is spread and those who participate. How is the message spread Within the organization communication chains exist. The chain used by formal communication may be very rigid, following the chain of command or authority. However, the chain used by the grapevine tends to be very flexible.Four different chains/structures appear to dominate the grapevine network according to Keith Davis are: 1. Single Strand Chain 2. Gossip Chain 3. Probability Chain 4. Cluster Chain Single Strand Chain This is a simple concept to follow, A tells B, who tells C, who tells D and so on. Each person passes the information on to the next person. The longer the strand the more distortion and filtering affects the information being passed until the last person in the chain may find the information unrecognizable from the original message. Most inaccuracies occur in this chain. Gossip ChainIn this illustration A simply tells everyone with whom they come in contact. This pattern is considered to be somewhat slow in moving the information. Probability Chain In this case A makes random contact with say F and C and passes on the information. They in turn randomly contact others in accordance with la ws of probability. Some hear the information and some don't. In this structure, there is no definite pattern of communication. Information is randomly passed along to anyone willing to listen. They type of person who communicates in this manner might be a very outgoing and talkative type of individual.Cluster Chain Here A tells contacts, B and F, who may work with A. They may tell two or three other persons with whom they usually have close contact. Most predominant pattern is the cluster pattern. Selectivity is the basis for this pattern. In any organization, individuals will generally feel more comfortable with some fellow employees than with others and therefore only relay information to those in their informal social groups. This flow pattern results in information missing some individuals completely. Roles of the ParticipantsIn addition to identifying certain structured patterns, research has also given us some other facts and descriptions, It has been discovered that only 10% of all the individuals in an organization are highly active participants in the grapevine. The types of individuals relative to rumors, have been identified. The three are- 1. Bridger 2. Bagger 3. Bearer Most employees fall into one of the three basic categories as they relate to the grapevine. Bridger Bridger’s receive and pass information to others. These people are the ones primarily responsible for the success of the grapevine.Bridger’s are the passers-along; the liaisons of rumors, also called KC's, as explained by Sutton. â€Å"Key Communicator† is the term that is given to this type of individual who is responsible for initially sending information into various networks. Baggers Baggers hear rumors but do not pass them along or fail to tell others. They are called â€Å"dead-enders. † They receive information but do not pass it on or only pass it on to one or maybe two other dead-enders. Bearer Bearers are not privy to any information, do not hear the information and thus cannot pass along, a rumor.They tend to be outside the grapevine. They neither hear nor pass along the information. Each type of individual can easily be identified in the communication mains previously illustrated. It should also be noted that people are more active on the grapevine when their friends and colleagues are actively involved. After all that has been said about the grapevine the next questions that arise are: What should the company managers do about the grapevine? Is it good or bad? Should the managers participate? How do we manage the grapevine? Management's Response to the GrapevineThe key thing to remember is that the grapevine exists, William A. Delaney reminds us of this when he says the â€Å"grapevine exists, always has and always will, and you can't stop it. † So managers should accept the fact and decide how they can use it to their own benefit. Vanessa Arnold contends that â€Å"Managers interested in creating effective organi zational communication will use information from the grapevine to improve communication throughout the firm. † The real value of the grapevine should be in revealing to management those issues that generate from the grass roots.As Donald Thompson said â€Å"its usefulness is seldom acknowledged, its voice often muffled, its insights ignored. † Should Managers Participate In many cases lower and middle managers are already active participants. They hold strategic positions in the communication channel because they filter and block two-way communication between higher management and operating employees. Managers basically have three options when it comes to their participation in the grapevine: 1. Ignore the grapevine, be no part of it. This is difficult in most organizations, but can be accomplished.They do their job and let it operate unnoticed around them. In effect they become an â€Å"isolate. † 2. Participate only when it serves their purpose. In this case th ey may seek out the grapevine and tap it to learn what is being said concerning a specific situation or issue. 3. Become an active and full-time participant. Managing the Grapevine Since the grapevine cannot be held responsible for errors and is somewhat of an unknown, managers sometimes succumb to the wish that it will go away; but we have learned from experience and research that â€Å"homicide† will not work with the grapevine.It cannot be abolished, rubbed out, hidden under a basket, chopped down, tied up, or stopped. If we suppress it in one place it will pop up in another. If we cut off one of its sources, it merely moves to another one†¦ It is as hard to kill as the mythical glass snake, that, when struck, broke itself into fragments and grew a new snake out of each piece. In a sense, the grapevine is a human birthright, because whenever people congregate into groups, the grapevine is sure to develop. It may use smoke signals, jungle tom-tome, taps on a prison wal l, ordinary conversation, or some other method, but it will always be there.Organizations cannot â€Å"fire† the grapevine because they did not hire it. It is simply there. Management Options Internal rumors are generally managed differently than external rumors if for no other reason than management of a company has more control over internal formal communication than over information sent out to the external environment. Since grapevine activity increases during times of uncertainty, management must provide information through the formal system of communication about key issues and events that affect employees.Management should supply employees with a steady flow of accurate, timely information; in this way, the potential damage caused by the grapevine can be minimized. Any attempt to soften or distort a rumor to make things look good is not a good way to deal with the rumor. The longer a rumor circulates the more difficult it is to control. Facts should be released quickly . The grapevine can be controlled with prompt, clear, and accurate information on the issues important to the employees. Full facts must be presented. Formal communication lines must be kept open and the process as short as possible.Direct memos, large group announcements, and intercom systems should be used. If employees perceive management is giving them the facts, they will be less anxious and less emotional when rumors are heard. Although the preferred management option is prevention, this never works 100% of the time. In other words, there will be negative rumors and if one wants to manage them, one ought to be prepared. So when prevention doesn't work, and it won't, what can one do? Two methods are suggested. First, a four-step method, and second, a disciplined three-phase management program, Generally, in the four-step method, four steps are suggested: 1.Seek to keep employees informed about what is going on. A formal company newsletter always seems to help. 2. Heed rumors. L isten to what is being said that is 80% true. What other information source is so highly credible? 3. Act promptly. Rumors are more difficult to correct over time because they â€Å"harden†Ã¢â‚¬â€œthe details become consistent and the information becomes publicly accepted, 4. Conduct a training program for employees on the nature of rumors. Advantages of Grapevine Communication Grapevine communication creates a social bond where none existed.People like to talk to one another; whether they talk about work or family, or anything. Teams become more cohesive when members talk to one another outside of the project or assignment they may be working on. Informal communication lends itself to bonding. The grapevine fills in a gap that is left when official information is missing, especially in chaotic or changing times. Even in organizations where management is very proactive about communicating change and keeping employees informed, the grapevine helps to fill in the blanks.The gra pevine in many ways helps keep people honest; it can dissuade people from engaging on behavior that they don’t want others to know about. This is a two edge sword. On one hand, people will think twice about taking what they know is a wrong course of action. On the other hand, they may also think twice about taking a necessary risk and doing the right thing, fearful those appearances that may give rise to rumors. Disadvantages of Grapevine Communication There are some intrinsic dangers in bypassing the organizational channels to get to the facts of the matter.The main danger is that much of the information that gets spread through the grapevine is not verified. Some of the information is likely false and difficult, if not impossible, to verify. We discount information when the source is a known gossiper. But not completely†¦ Even when the source is someone known to spread rumors, we believe that where there's smoke†¦ Since we don’t know what part is fire and w hat smoke is, we accept the whole rumor. To justify our participation in spreading the rumor, we tell ourselves that part of it must be true.The main reason why we give credence to a rumor is that it seems to match what we think about the situation or person that the rumor is about. We also tend to believe the person sharing the rumor with us. Another main disadvantage of grapevine communication is that it's often used to spread more than rumors; it's used to spread gossip. The terms rumors and gossip are used sometimes interchangeably, but rumors are not quite the same as gossip. Both are pieces of information that can't be verified, but rumors tend to affect organizations or groups of people, while gossip refers to more personal matters.When gossip is being spread through the grapevine, people's reputations, careers, and lives can get destroyed very rapidly. FINDINGS While preparing our assignment we have to study a lot on this topic. From all our experience we gathered, we can co me to an end that, certain situations like insecurity of service, uncertainty over promotions, special increments to a particular employee, certain innovations in the organization likely to affect the job prospects of the employees are sure to activate the leaders of the grapevine so that very soon all kinds of rumors have spread in the organization.Whether grapevine is sour or sweet is depends on its impact on the organization. If it works for the organization to increase its quality it will be sweet. For this we will have to use grapevine efficiently. On the other hand, if it works against the organizations purpose it will be considered as sour. SUGGESTION From our study we can suggest that, to use grapevine efficiently we should follow the following ways: 1. The managers should try to spot the leaders. They should try to find out the people who are more active on the grapevine and keep them well informed so that harmful rumors do not reach the employees. . The grapevine should be used to feel the pulse of the employees. 3. If there is any false rumor, the management should immediately use the official channels to contradict and to dispel the fears of the employees. 4. Involve the workers in the decision-making process. CONCLUSION The grapevine is basically a channel of horizontal communication, for it is only people working at the same level of hierarchy who can informally communicate with one another with perfect ease.Thus the workers may have one grapevine and the first line supervisors another. But the fact is that the grapevine does not follow any set pattern and it can be effective horizontally, vertically and even diagonally. REFERENCE Secondary Source 1. Essentials of Business Communication, by: Rajendra Pal & J. S. Korlahalli 2. Business communication (Theory and Application), by: M. Omar Ali 3. www. definitions. net/definition/grapevine. 4. http://dictionary. reference. com/browse/grapevine.

Just in Time (JIT) Essay Example | Topics and Well Written Essays - 2500 words

Just in Time (JIT) - Essay Example The strategy can be applied in UAE also. Gorica Group can implement this in their organization but there are some difficulties that the organization can face to implement this strategy. Just in time is a famous concept introduced in Japan in 1950. This business concept has significant contributions in the domain of production strategy or manufacturing business. Before the advent of JIT big manufacturing or product based organizations across the world were facing significant difficulties to manage their inventories. Companies across the world were storing high amounts of inventories in their warehouses. Inventory related problems were eating into their profitability. It was a significant matter of concern for the organizations. Returns on investments were low and inventory carrying costs were high. Philosophy of JIT is simple but it has utter importance as far as the inventory management is concerned. After the Second World War, Toyota President raised his voice and asked the Japanese automobile industry to pull up their shocks to compete well with the American automobile industry. During that period, American automakers were manufacturing nine times higher than the Japanese counter parts. It was the time when Japanese people first came up with this idea. With the help of this essay JIT will be discussed. Here in this study JIT will be defined in an elaborate fashion. The paper will also discuss various fundamental techniques related with Just in Time. The essay will analyze whether the concept is successful in Japan or not. In addition to all these it will also try to find whether the concept can be implemented in UAE. The concept will also be discussed on the context of an organization. Methodology is an integral part of any research paper. Importance of methodology cannot be denied at all. Methodology brings proper structure to a report. It is the way or process through which information and data are collected.

Perfect Market and Market Failures Essay Example | Topics and Well Written Essays - 1250 words

Perfect Market and Market Failures - Essay Example There are a large number of buyers and sellers in the market for a particular product and there is perfect freedom for entry into as well as exit from the market. There is sufficient supply of the product in the market and the purchase made by any single individual would not affect the market. The product sold is homogenous in all parts of the market and all the buyers and sellers are having complete information regarding the prices in different parts of the market.The producers of a product, whether farmers or companies or any other organizations, who are not putting their resource into complete use or wasting the resources, would fail in their business. The same thing happens if they produce their product more than the demand for that product or produce the product with a wrong technology. In a perfect market all products are produced in the most competent manner. There is no wastage of resources and the products are produced with minimum costs and in exact quantity as required by the market.Only the required amount of products is produced so that there is no surplus or deficit. If there is surplus, then the price would reduce and if there is deficit, the price would go up. In other words the amount that is produced would be equal to the demand of the product. Then the price of the product would be equal to its cost and would be equal to the worth attached to it by the customer. 4. Other assumptions include no taxes or public goods and other externalities. When the production as well as use of goods and services in a market is not efficient, it is called market failures (Krugman and Wells, 2006). It occurs usually when the individual's interest is different from the interest of the society. In most cases it calls for government interventions to solve the situation. There are many reasons for market failure. When a producer of the goods or services gain market power in such a way that he can control the trade of the product and impedes the interest of other traders, then a condition called imperfect competition occurs. This can be monopoly, monopolistic competition, monopsony, cartels etc. Another condition that could lead to market failure is the existence of either positive or negative externalities. Yet another reason is the presence of public goods in the market. Market failure can also occur when the resources are common (Krugman and Wells, 2006). One of the most important examples of a market failure is traffic congestion. Roads are public goods and a resource that is common to all. In the last two decades there has been a tremendous increase in the number of vehicles produced and used and there is no corresponding increase in the road space (Harford, 2006). So the demand for road space is more than its supply. This in turn results in traffic congestion. Traffic congestion results in longer time required to reach a place, slowing of the speed of the vehicle, which would increase cost of driving and this could seriously affect trade. When the traffic comes to a complete stop it is called traffic jam.

Matt Holmes & Cool Company Case Study Example | Topics and Well Written Essays - 1000 words

Matt Holmes & Cool Company - Case Study Example Assets would be written down if the company continues to use those assets. Lack of recoverability of the net carrying amount must be recognized as asset impairment and it occurs under certain circumstances such as changes in regulation and business climate, technology changes, usage rate decline, and forecasts of a notable decline it the asset’s long term profitability. It appears that the Cool Company must perform an impairment test as the firm experiences changes in business climate. However, it must be noted that every change in business climate would not indicate asset impairment. ‘A quoted market price in an active market’ would be the best evidence of fair value and it must be applied as the basis for measurement (â€Å"Goodwill and other..†). Market inputs such as credit data and yield curve are some of the alternative methods of estimating fair value. From an asset impairment analysis, the Cool’s department manager would get valuable informat ion that would assist him to determine whether or not those suspected assets should be written down. 2. King Company Good will is an account that can be seen in the asset side of the balance sheet. Often, good will arises as a result of acquisition of a company by another company. The amount paid for the acquired company over book value generally reflects the value of that firm’s intangible assets. Since the good will is not a physical asset as land and buildings, it is recorded as an intangible asset on the balance sheet. Intangible assets include good will, corporate intellectual property, and brand recognition. Typically, good will indicates the value of intangible assets such as patents, strong brand name, better employee relations, and better customer relations. US GAAP defines good will as the â€Å"excess of the cost of an acquisition price over the fair value of acquired net assets†; similarly, goodwill and some other intangible assets will no longer be subject ed to amortization (â€Å"Stock dividend). Therefore, the reported amounts of goodwill would not decrease and moreover, goodwill recorded on the acquisition will not result in a ‘drag’ on future earnings for goodwill amortization. According to Graham, when goodwill is recognized by a subsidiary, it should be tested for impairment at the subsidiary level using the subsidiary’s reporting units; and if goodwill at the consolidated level is impaired, it would be recognized at the consolidated level (116). In total, the King Company would not face issues that were pointed out by senior accounting staff because the goodwill accounting has changed. Ethics case 1 Marco Chemical Corp The government and public are the stakeholders involved in the situation specified in the Macro Chemical case. The director of the Marco’s R&D division would not be ethically liable even if the chemical caused any disaster because he had strongly recommended the chemical’s furt her testing for side effects. On the other hand, the Marco’s president has worked against his professional ethics. The president had been advised by the R&D’s director regarding the chemical’s further testing in the laboratory for its side effects on other insects, birds, animals, plants, and even humans. However, the president did not consider such warnings as he focused only on the improvement of company’s sales and profits. In other words, he did not take human values or

Reading response 8 Assignment Example | Topics and Well Written Essays - 500 words

Reading response 8 - Assignment Example The author builds his hypothesis that some characteristics of modern language might seem to be â€Å"fossils† of the previous stages of evolution. Jackendoff’s explanation of the use of symbols is presented in a complex manner where the actual purpose of the author is lost, according to me. He gives examples of different words uttered by a child and cites literature as the background of his discussion. He mentions that at a very early stage a child can distinguish between proper and common nouns. He then switches suddenly to use of situational one word and also single word answers which he perceives as â€Å"fossils† of the â€Å"one-word stage† of evolution of language. However the main essence of expression without syntax and yet symbolic meaning is not clearly expressed especially when he compares with the systematic yes and no utterances. In certain instances the author himself does not seem to be clear about the reality and it is more of an opinion based approach when he thinks that the learning process of apes is like children initiating habit of reading and is quite effortful in nature. However one keen and realistic observation he makes here is the distinction between grammar and vocabulary learning. A person with good vocabulary might have lesser sense of grammar. The ability to imitate plays the important role here and here the author’s inference shows clarity and logical deduction. The author brings up an interesting topic of word order which might affect the essence of communication. He however does not explain this more simplistically with the help of grammar and syntax. It is difficult to understand what the author is trying to point out in this section. Is he trying to say that communication or expression should follow grammar in modern system of language? He even brings in the cases of special children to whom learning signs is the only option to express them. So is grammar necessary when symbolic expressions or

Assess the relationship between American security policy and American Essay

Assess the relationship between American security policy and American international economic policy during the Cold War - Essay Example The nuclear arms race was primarily focused on the two world superpowers at the time: the United States and the Soviet Union. Both countries, being at odds in terms of political and economic structures, were trying to prove the worth of democracy (in the US) and of communism (in the USSR) and this was the central point in the Cold War. Given the international power of both countries in terms of military might and global alliances, both the Soviet Union and the United States lived in constant fear of the other and subsequently both nations became involved in the so-called arms race to obtain as many nuclear bombs as possible. This was a deterrent tactic on the part of both countries whereby it became clear that if either were to strike in an act of war, the other would retaliate to the fullest extent and cause maximum damage. Ironically it was the huge stores of nuclear bombs that were meant to keep the United States and the Soviet Union from attacking one another and turning the Cold War into a real war. Ano Another security policy employed in the United States during the Cold War was networking (Sumi and Salla 103). The main objective of the American government at this time was the containment of communism around the world, and to stop the spread of an ideology it viewed as fundamentally flawed and dangerous, the US did its best to form alliances or simply maintain friendly relationships with those countries that were in close proximity to the Soviet Union. For the most part, this meant the close observation of western European nations and in particular a high interest in the economic status of both West and East Germany. Since World War II Germany was a divided nation, with the West side adopting capitalism and democracy while the East remained communist. Like the Korean and Vietnam wars, the struggles of West and East Germany became a physical battlefield for the ideals of a Cold War between two nations that would never formally take action (Ball and Arnold 132). The goal of the United States being to remain a safe country while simultaneously oppressing communism meant that international networking was key, and this is why security policies and international economic policies were connected so closely during the Cold War. The major influence of the United States over key western European nations came because of the War; in the aftermath of World War II a great deal of infrastructure and structural damage had been done to countries like the United Kingdom, Italy, Portugal, Norway and Sweden, and with the conception of the Marshall Plan the US had figured out how to use international foreign economic policy to its direct advantage over the Soviets (Bonds 180). The Marshall Plan, otherwise known as the European Recovery Plan, channeled funds to ailing economies who promised to support capitalism and democracy in return. For the most part these countries were already pro-democracy and had no interest in

Formal Analysis Essay for Art History Class Example | Topics and Well Written Essays - 1000 words

Formal Analysis for Art History Class - Essay Example (55.4 x 37.78 cm) (Plate) 25 3/4 x 18 5/8 inches. (65.41 x 47.31 cm) (sheet, irregular) (Artnet Worldwide Corporation, 2013). As a result, the painting is clear and visible to the naked eye where the audience enjoys its artistic perfection. Most notable is the color engraving, soft-ground etching, and scorper that define the texture, boundary, and coloration of the painting. Andre Racz who was an artist and professor of painting and sculpture made the painting in North America, United States in 1945 (Artnet Worldwide Corporation, 2013) (20th Century) with an adoption of the North America culture although he was born in Romania. Notably, there is a pencil inscription depicting the sign and date of signing on the painting, Perseus Beheading Medusa (ARCADJA, 2013). The painting received credit from the Credit?Gift of funds from the Print and Drawing Council with an accession Number?P.99.12.1. The painting, Perseus Beheading Medusa depicts the image of Perseus cutting the head off the Me dusa. Medusa also refers to the guardian protectress (Wallace, 2003). More so, the media terms Medusa as a Gorgon or a monster who was conversely a very beautiful maiden (Wallace, 2003). Nevertheless, Medusa desecrated the goddess Athena's temple by sleeping there with Poseidon prompting Poseidon to turn her into a monster with live snakes covering her head (Wallace, 2003). As such, the media refers to the Medusa as a monster with a face of a hideous human female with living venomous snakes on her head. Although, Medusa had three beautiful sisters, Medusa was the only moral one and her beauty mesmerized Poseidon. On the contrary, Medusa did not care about Poseidon and hence he turned her and her sisters into monsters (Wallace, 2003). Because of the aspect of being a monster, any person looking directly at the Medusa would immediately turn into stone (Wallace, 2003). In the same kingdom, Perseus was the son of Danae who later fell in love with Polydectes (Wallace, 2003). Subject to t he love affair between Perseus mother and Polydectes, Polydectes hatched a plot to kill Perseus by sending him to fetch the head of Medusa the monster (Wallace, 2003). However, the gods loved Perseus and helped him to succeed in cutting Medusa’s head. Indeed, they gave Perseus winged sandals, a curved sword, a helmet that made Perseus invisible, and a mirror like shield which allowed him to see a reflection of Medusa’s face and to avoid being turned into stone (Wallace, 2003). With these materials, Perseus was able to cut the head of Medusa and hence the painting according to the media. In addition, the media asserts that later on, the hero Perseus used the head of Medusa as a weapon before handing over the head to the goddess of Athena (Wallace, 2003). The painting, Perseus Beheading Medusa is a bronze sculpture and has been one of the most famous statues in modern art. At the time of producing this painting, Hayter and other artists were working at Atelier 17 where t hey were actively experimenting in color printing techniques. The painting has a dull look and depicts the sketchy image of a person holding a head. The person is also holding a sword on the right hand. The painting has artist's proof, signed, dated, titled, and inscribed "A/A" in pencil at the lower margin (ARCADJA, 2013). It has a very good, dark impression, a warm plate tone, and inky edges (ARCADJA, 2013). The black lines

California natives Essay Example | Topics and Well Written Essays - 750 words

California natives - Essay Example the degradation of the environment (massive clearing of forests, siltation of river systems, loss of wildlife game and draining of marshlands) that adversely affected the natives. The native population of California just a few centuries ago was so diverse that about 500 independent different tribal groups were identified by anthropologists (ibid. 3) in the area. However, the tragedy was that much of this local culture was lost forever with very few items and artifacts left to record their way of life due to the forced assimilation adopted by settlers. As a result, although the native population had risen after 1900, that population had lost much of its ethnic purity with most of natives half-breed (mixed marriages and broken traditions). Linguistic diversity was also lost with many unable to speak their native tongues. This essay tries to look back at those times and examine the effects of two groups of settlers – the Spaniards and the Russians. Each group had a different purpose of going to the area and therefore had a different impact on the lives of the natives. This paper also looks at a specific aspect of native life during that bygone era and gives brief contrast with the Western way of life and the valuable lessons that could have been learned by everyone. The recorded history of California (as viewed from Western eyes) begun with Spanish religious missions together with settlers and soldiers. The missions and the presidios usually were built near other in case of attacks from the coast or from the native Indians and later on grew into pueblos (small towns). The presidios were actually small forts where soldiers were posted so they can aid the mission in case they were under threat. These structures survived to this day and are among the most visited tourist sites. These relics and monuments of Spanish colonization form a chain of 21 missions built along El Camino Rey (The Royal Highway) and considered as the refuge of religion and serenity while

Apple Swot Essay Example for Free

Apple Swot Essay Apple is a brand which is being recognized for good reasons through out the world. â€Å"Brands are unlikely to become successful if their end motive is simply to be different, consumers demand that brands become different in a meaningful way which means delivering on that difference† (Helen Fern 2010). Apple has a great sense of creativity especially in connecting with consumers and this can be seen from the fact that even the most generic products can still be perceived to be different. There are many smart phones out there in the market but the iphone is the most recognized today. From the fact that Apple maintains a good range of products which compliment each other from the itunes online store which is an excellent source of revenue derived from sales of music and applications for Apples iphone, ipod and ipad touch devices, this is bound to bring good customer loyalty buying multiple products from Apple, some of whom may well be influenced by other people as Apple seem to have an aggressive presence on the social media networks such as facebook and twitter where the majority of consumers spend a lot of their time these days. This increases further awareness and adds strength to the brand. Apple has not in many years use celebrities to strengthen its brand which is a great deal in saving money. Instead it is the celebrities who tend to use Apple now in order to increase their income and diversify their business. This in return increases the strength of the brand almost effortlessly. A good example to this will be the Will i.am iphone cases. â€Å"Will.i.am has officially unveiled four â€Å"i.am † iPhone cases, designed to improve the Apple smartphone’s camera capabilities. The Black Eyed Peas frontman took to London’s Selfridges department store to show off the â€Å"foto.sosho† range, with the press release claiming the device, which comes in several variants, to be â€Å"the world’s first digital camera accessory and app combination designed to turn an iPhone 4 or iPhone 4S into a sophisticated point and shoot digital camera.† http://www.trustedreviews.com/news/will-i-am-launches-i-am-foto-sosho-iphone-cases Apple has won several awards in recent years and has been â€Å"voted the  overall winner of the 2012 CMO survey awards for marketing excellence, yet again Apple has been selected as a winner or co winner for five consecutive years by the sample o0f top marketers†. Christine Moorman 2012. Apple had originally followed the following points in order to create success. * Epathy – Making sure that customers needs are truly been understood more than any other company in this competitive industry. * Focus – Time management in terms of eliminating unimportant opportunities therefore a good job can be done on the chosen tasks for example deciding what to produce and then focusing on product differentiation from other producers. * Impute – Product presentation is of high importance since people always judge a book by its cover therefore, high quality product and most usefull software has to be presented in a creative proffessional manner. Apple is an innovator and technology leader Strategic Management Assignment references. http://edition.cnn.com/2011/10/24/tech/mobile/heart-monitor-smartphone-app/index.html Accessed on 28-12-2012 http://techpinions.com/apple-as-innovator-three-contributions-that-changed-computing/9863 Accessed on 28-12-2012 http://www.millwardbrown.com/Global/Blog/StraightTalk.aspx http://www.investopedia.com/financial-edge/0312/why-pay-the-high-price-for-apple.aspx#axzz2HJhClMRf Accessen on 29-12-2012 Price http://www.trustedreviews.com/news/will-i-am-launches-i-am-foto-sosho-iphone-cases. Accessed on 28-12-2012 http://www.dailymail.co.uk/news/article-2254300/Has-Google-finally-taken-bite-Apple-App-developers-switching-allegiance-search-giants-Android-software-dominates-Christmas-sales.html Accessed on 29-12-2012 http://www.millwardbrown.com/Global/Blog/Post/2012-11-14/Apple-tablet-wars-and-the-Red-Queen-Effect.aspx http://www.millwardbrown.com/Global/Blog/Post/2012-11-14/Apple-tablet-wars-and-the-Red-Queen-Effect.aspx Steve jobs being a good leader.

The Singer Solution To World Poverty Essay Example for Free

The Singer Solution To World Poverty Essay â€Å"The Singer Solution to World Poverty,† philosopher Peter Singer addresses the issue of poverty by suggesting Americans give away most of their income to aid those in need. Singer believes that withholding income is the equivalence of letting a child starve to death. Therefore, Singer suggests the ethical thing to do to end world hunger is to give up everyday luxuries. Although donating a vast amount of money could help dying and starving children, Singer’s proposition is not only unrealistic but also too demanding for everyday Americans who have responsibilities of their own. Singer begins his essay with Dora, a schoolteacher, who sells an orphan awaiting to have his organs sold in a black market for a new television set. Eventually, Dora regrets her immoral decision and rescues the boy from his fate. Singer compares this act to Americans, who spend their income on food, clothes and vacations by suggesting that the money spent could have made a â€Å"difference between life and death for children in need† (327). Singer goes on to compare how the situations are similar, pointing out that the only difference is ignoring an issue that isn’t in your presence and one that is. Singer continues by calling himself a â€Å"utilitarian philosopher† and defines his character by stating that he judges acts by their consequences (327). Singer then introduces Bob and his expensive Buggati. Bob chooses to save his car from a train even though he could have saved a child’s life by destroying his prized possession, and compares this story to Americans and their lack of donations. Singer concludes with comparing income and how much a person should give away based on that number. He suggests all Americans have the choice to give up all luxuries because these sacrifices could better a child’s life. Singer targets all Americans in his essay, implying everyone needs to help. He begins with saying that two hundred dollars is enough to make a difference for a child, to declaring the only solution is to give up all luxuries. Singer uses Bob and Dora, two individuals who chose money and objects over children, and compares them to his audience. He even goes as far as to compare the lack of help Americans give starving children in Africa to Nazi Germany and those who did nothing to stop the Third Reich. He bases his logic on what the moral thing to do is. Singer attempts to guilt trip his readers by giving examples of life and death situations, in which lay in the hands of immoral people. Although Singer does mean well and wants to make a difference for those whose lives are at risk, his solution to is too demanding for everyday people and his authoritative deliverance in not very persuasive. Furthermore, Singer not only expects too much, but doesn’t realize luxuries and necessities mean different things to different people. Singer overwhelms the reader by stating one number to expecting a lot more. Singer fails to mention how much people struggle in America alone. Sure, it would be great to end world hunger, but what about giving to those in need in the US? According to Unicef, the United States has the second highest population of child poverty in the list of developed countries, (Unicef). Although it would be wonderful to be able to help all in need, sometimes it isn’t possible when Americans are struggling themselves to pay bills and raise their own. In conclusion, although Singer does have a good meaning behind his essay, he fails to persuade his audience by being too demanding. Although poverty is in fact an issue, he uses mostly exaggerated examples and guilt trips his readers by comparing them to Nazis and leads them to feel bad about themselves. Not everyone is able to help due to their own financial responsibilities, and it’s unrealistic people will give up most of their income for strangers in other countries. Despite his tone, I do believe the only way to overcome world issues it to work together, but unfortunately I don’t think Singer’s solution is a realistic solution to world poverty.

Gold investment: An overview

Gold investment: An overview Chapter 1: Introduction 1.1 Overview Since prehistoric time, human are using the gold in trading and value keeping asset. Even current financial activities are always surrounding by the gold issue. The ancient treated the gold as the true form of wealth. Gold has been using early in 4000 B.C as a fashion decorative object in where today Eastern Europe is centred. In 1500 B.C the gigantic gold-bearing regions of Nubia made Egypt a wealthy nation (National Mining Association). By the time the gold has widely recognize as the standard form of medium of exchange for international trade. Gold is represented the royal and honourable in different religious and cultural area. Its aesthetic appearance is the finest ornament above all other metal. Gold play the role in all aspect around us, such as religious customs, reward system, ornament, jewellery, and even the component of industrial product. Gold exist and be using for decade, its intrinsic value is still maintain high and irreplaceable. Investing in gold has been seen as the supreme way of safe haven investment. Gold investment is booming in recent year and the reasons behind this incident can be explained as the investor become more aware of the benefit of the gold and its special features. Gold demand for investment purpose accounted one-thirds of gold demand all over the world which is substantial influential (World Gold Council, 2009). Investment demand for gold has shown as significant increase in the last seven years as investor seeking the fashion to balance their investment portfolio and safeguard against the economy and political uncertainty Generally gold demand can be divided into three main types, which included the Jewellery demand, gold investment demand, and industrial demand. The gold investment can be further divided into physically and non-physically holding the gold. In Malaysia, there are several ways to participate in gold investment and this will be studied in chapter two. 1.2 Benefit of gold investment In portfolio management, prudent investor will have different sort of investment vehicle. The reason for holding diverse investment is to safeguard the portfolio against fluctuations or uncertainty that occurs in the economy system. Gold investment has been studied by many of professional toward its ability to protect the wealth of investors against the overwhelming global financial crisis and economic uncertainty. Generally, the group of similar asset will react correspondingly among each other during the transformation of the economy and financial system. Diversification will reduce investors risk in portfolio investment. Besides the common investment vehicle like company share, bond, and mutual fund, gold investment is an option for investor to diversify their investment portfolio. Portfolio that contains gold investment is generally more robust and less risky as compared other investment vehicle. The inflationary hedging ability of gold is prominent especially during the economic uncertainty period. Gold price react quickly that other commodities when there is any change in the market condition. Conversely, price of the CPI-basket is adjusted slowly to the change of market condition ((Mahdavi Zhou, 1997). Risk factors that may affect the gold price are quite different in nature from those that affect other assets. Purchasing power of gold is maintain even the transformation of the era is remarkably significant (Greer, 2005). In addition, gold is one of the examples of safety investment instrument that have very limited amount of risk associated with it. The credit risk is the possibilities that the debtor unable to repay the loan. Gold is unique which do not involve such repayment relationship. The profitability of gold investment is operating in the accrual basis. The liquidity risk which means the possibilities that the asset cannot be sold as the buyer in the market may not be available during the time of reselling. However the gold market has high demand rate from the individual consumer, jewellery sector, financial institution and manufacturing of industrial product. Thus its liquidity risk of gold investment is very low (World Gold Council, 2009). 1.3 Problem statement Gold investment in Malaysia is less well known by investor, even though it is a superior investment vehicle. Generally, most of the elderly will save their money in fixed deposit. Some of them may invest their money into mutual fund and government bond. The rate of return from the fixed deposit is very low and the intrinsic value of the saving will be overwhelmed by the wave of inflation during financial crisis or recession. The purpose of this study is to find out what are the reasons that affect the intention to adopt gold investment in investors portfolio. In early 2008, the inflation rate surge high, most of the investor who invests in share market suffers a huge loss in the market. The collapse of Lehman brother and many giant corporations in 2008 raised the vigilance of the investors. Many of investors seek for the immunity to keep their capital away from the threat of inflation and downward movement of stock prices. According to World gold council (2009) stated that there is significant increase in the demand of gold investment. Current financial recession and anxiety toward future uncertainty have urge the political and finance officer unearth the solution to withstand the inflation problem. Some professors have suggests the gold investment to investor as the safe haven to protect their wealth against the inflation shock. Gold investment has the special feature of inflationary hedge which have been study by a number of researchers and professionals. Malaysian investors should add the gold investment into their portfolio and hence reduce the risk of investment. However, gold investment in Malaysia is still not widely adopted as compared to other counties such as Singapore, Thailand, China, United state and India. Some investors are eager to make the quick profit from the speculating activities such as short-selling the share and the commodities future. However the speculating activities will create the bubble in the market and finally it will turn into another financial turmoil. The gold price seen not stable in short and is more volatile than other commodities. However the gold price in long-run shown an upward shifting trend and the value of gold is appreciated over the past 30 years. In Malaysia, the gold investment opportunity is very limited and the public are hard to find the advertisement of the gold investment account or the gold investment seminar. The lack of public awareness toward the gold investment is one of the problems in Malaysia. It is imperative to enhance the public awareness to the gold investment and adoption of gold investment in the investors portfolio. Gold investment is very popular in other country such as china and India during the recent years. Based on the statement from the World Gold Council (2009) the investment demand hit high at 656 tones which account for 16 per cent of total gold demand. James Burton, the CEO of the WGC has announced the investment demand for the gold market has a striking increase in the last six years. The rising demand of gold investment is due to the investors seek to further diversified their portfolio and safeguard against economic uncertainty and political instability. However this tide is not yet hit the Malaysia Investment market as compared to other country. As we can see the method of gold investment in Malaysia is enormously limited. This thesis may help the local investment institution to identify the factors that affect the adoption of the gold investment. Thus the local institution can come out with the absolute plan special cater for the local investor. It may help to establish the sound financial investment structure in Malaysia. Besides, investors are furnished to more options of investment and enhance the ability to diversify their investment portfolio. Development of a country required the liberalization of the Malaysia market so that to attract the multinational corporation expand their business locally. Generally, Malaysias local investment institution is lack of competitive advantage as compared to giant foreign investment institution. Hence government always exercise its authority to prevent the foreign institution enter into Malaysia financial market. This will be an obstacle to the government in their liberalization plan. In order to increase the competitiveness of the local investment institution, the research on perception of local investor is indispensable. It would assist the local investment institution to compete with the strong forces from overseas. In the evolution of the world monetary system, the gold is increasingly been esteemed as the new form of currency after the abandoned of the Bretton Woods System in year 1973. The loss of confident towards the paper notes and some professionals have pointed out gold as a true form of medium of exchange. Greer (2005) has defined the money is backed by nothing other than the confidence that its holders place in the issuing bank. The paper notes will be able to exchange for goods and as way to store their wealth. However, it depends on the ability of that government to keep inflation under control. The problem of the fiat money have cause the Zimbabwe nation suffer from the hyperinflation due to the excessive money supply. Malaysian should employ some inflationary hedging instrument to avoid the unwanted event. The rising demand for gold in the countries such as china, India, United state and Australia in gold investment have significantly drive the gold investment as part the portfolio investment tools worldwide. Malaysia is still on the developing stage of this form of investment instrument. Thus we are rarely seen the Malaysian investors holding their portfolio with the portion of gold investment. Even gold is superior and have been widely adopted in other countries. 1.4 Objective of study The General objective of this research is to examine the perception of Malaysian toward gold investment. Investor perception toward gold investment is extremely important when come to the promotion of the gold investment. Here is to study what is investor view on the gold investment. What investor perceive the gold investment and what is image of gold investment that in the eye of investor. Special objectives: 1. To determine the adoption of gold investment in Malaysia There some relevant cause and effect relationship of the low adoption of the gold investment. Why gold investment is not popular and widely adopt by the investor as compare to other investment or saving plan. One of the objectives of this thesis is to discover the factors that associate with the degree of espousal to gold investment. 2. To determine the factor affect the gold investment among Malaysian Gold investment is prominent investment vehicle and is widely embraced. The factors affect the gold investment adoption in Malaysia provide insight to the investment institution to cater local investors need. 3. To determine the relationship between perception and adoption of gold investment Is the Malaysians perception toward gold investment having significant relationship with the adoption of gold investment? The perception is the behavioural aspect of human thinking and the adoption is the actual action takes by the Malaysian. Hence, the relationship will be examined in this research. 1.5 Significant of study Based on the investor perception toward gold investment, bank and the investment institution can formulate the gold investment plan to gratify the local investor needs. Malaysia is gradually moving to the liberalization era in different area especially banking area. Due to the open forces from the foreign financial institution, local banks and investment branches are increasingly focus on the customer services and their facilities improvement. By understanding the local investor perception toward the gold investment, local banks or other local investment institution will be able to compete with other foreign giant finance and investment institution. The local investment institution professionalism and customer service is improved if the research and development are increasingly focused on the development of facilities. In addition, government will be eased when implementing the liberalization plan if the local financial institutions are employed with the strong competitive advantages . Malaysia evolves to a resilient nation as we moving deeply into the liberalization era. Thus the local banking system needs to have more inputs to renovate the investment structure in Malaysia. This research enhances the ability to attract the foreign direct investment due to the liberalization of the market. The demand of Malaysia currency is indirectly driven by the foreign direct investment. Hence it will strengthen the Malaysia currency to other nations currencies rate. This research contributes to the Malaysia financial market stability and development while the losses of the investors had been minimized due to the â€Å"safe haven† protection of gold investment. It enhances the resiliency and stability to country financial market, because the losses of investor is been reduced. In addition, local consumers and market players are given the opportunity to variety of choices and enjoy the privilege in term of banking products and services from the open force of the liberalization. Hence it boosts the local investor and market player confident toward the local banking and finance institution. Gold investment in Malaysia is not well known investment vehicle to investors even though there are rising demand of the gold investment from the global perspective. Thus, analyze Malaysia perception toward the gold investment is a vital driver which directly influences the gold investment demand in Malaysia. During the economy difficulties, the consumer are generally suffer from the rising price of the necessities. The decrease of the consumer spending will detain the recovery of the local economy system. If Malaysians engage in some sort of inflationary hedging instrument, the situation will be ease. The inflation problem will not distress the nation seriously as the investors are protected against inflation. From the gold investment facilities provided in Malaysia, we can draw the conclusion of the Malaysia gold investment industry is not well-crafted as compared to other foreign country. There is the need to produce more research topic related to the Malaysia gold investment industry. The research can extend the investor knowledge toward Malaysia gold investment market and also create the awareness to the gold investment opportunity. Malaysia aims to establish a knowledge-based society which is stated in the National Vision Policy (NVP). Hence, in order to consistent with National Vision Policy the extension of the knowledge in gold investment is one of the significant of study in this research. Diversification enables investor to minimize their risk in their portfolio. Investors are given more option to diversify their investment portfolio instead of the current common type of investment vehicle. The inflation rate surge high every year, the real wealth of the investor is diminish over time if they do not involve in the inflationary hedging activities. Among the inflationary hedging activities, gold investment is the safer form of instrument. It is because gold have the high demand and high intrinsic value instead of the legal tender given by the authorities. In addition, the gold is durable and imperishable even for thousands of years. Thus, it acts as a superb value storing asset among others. Risk adverse investors such as elderly will be able to keep their wealth more efficiently and withstand the uncertainty in future. This study provides the important feature of the gold investment which can benefit investor especially during the economic uncertainty period. 1.6 Organization of study In this research project, there are total of five chapters and the title for this research is â€Å"the perception of Malaysian toward gold investment; an empirical study. In chapter one, the overview of the gold investment and benefit of gold investment is included in this research. Besides, the problem statements give an illustration of the problem of gold investment in Malaysia. After that objective of study and significant is study is developed and explained briefly. Chapter two is the literature review; the information is obtained from various sources such as the, research journal, bank catalogue, newspaper, book, and website. In this chapter, the variables are studied clearly and the independent variables are further justified. Chapter two included the study of gold supply and demand, characteristics of gold and gold investment opportunity in Malaysia. After that, the independent variable is studied accordingly. In chapter three, the Research Framework and model specification is developed. Theory of reasoned action has been employed in this study. After that, the hypothesis is established for ten independent variables. Research design is stated in this chapter and it provides detailed information for the method of study. Research sample, questionnaire design, data analysis method is included in this chapter. Chapter four is about the result analysis which the data will be analyzed and interpreted. Finally, chapter five is the recommendation and conclusion of the study. Chapter 2: literature review 2.1 Gold supply and demand Precious metal has the feature of the currency and it possesses the intrinsic value besides the legal tender given by government (Greer, 2005). Hence, investor tend to put their money in gold during time of uncertainty and when they loss confident toward the paper currency (Rusell, 2009). Recent years, there is an increase demand in this real asset due to the loss of confidence toward the paper currency (Willie, 2009). Gold price is demand on the demand and supply mechanism in short-run. Gold demand is high in the country such as East Asia, India and Middle East. In addition, China, India, USA, Italy, and Turkey accounted 55% of the total gold demand of the world. The gold demand can be divided into the jewellery demand, investment demand and industrial demand (Lutter, 2009). Jewellery demand has a highest percentage to the total gold demand. India is the largest jewellery demand due the cultural and religious tradition which is independent to the economic variable. The investment demand which is the primary consideration in this research mean the gold is been traded over-the-counter market. The investment demand has a dramatically increase over last five year which shown a 412% in term of value (World gold council, 2009). More investors seeking gold as protection against the instability of numerous macro-economic variables such as inflation, currency exchange rate, and interest rate (Levin and Wright, 2006). In industrial demand, gold has been use as the thermal and electrical conductor, the demand arises from the use as an electrical components. On the supply side, it is come from the mine production, central bank holding, recycled gold and gold production. The mine production is inelastic to the changes in price and demand due to the long mining process. Recycled gold is from the process of extract and melt down of the jewellery and electrical components (World Gold Council, 2009). 2.2 The characteristic of gold Gold have variety of characteristics besides the independent variable stated in this research. For example, gold possess the characteristics of liquidity, store of value, durability, unit of account and Malleable. The characteristics of the gold provide strong foundation of the demand for the gold especially during the recession or economic uncertainty period. According to world gold Council (2009), the liquidity risk of the gold is relatively low as compare to other investment vehicle especially during the economic hardship. Murray (2004) said that the gold market provide high liquidity to investor when they are in the need of the fund. According to Sathye (2003), the collateral is a second source of repayment to the loan. The Marketability of the asset is an important consideration to the lending decision. The Marketability of the asset depends on the acceptability of the particular asset. Gold has the characteristic of acceptability. Levin Wright (2006) stated that gold is widely acceptable and investor can sell the gold whenever they need the liquidity of the fund. The According to Harmston (1998), gold can uphold its real purchasing power in long run. He claim that gold have consistent value storing ability even at the economic instability. Sjaastad, Larry and Scacciavillani (1996) claimed that when world inflation is surging higher, gold is performance its remarkable function as a value storing instrument. Dubey, Geanakoplos Shubik, (2003) said that gold is a form of commodity money and it can store the value. However gold is durable as compare to other commodities. Besides, the durability of the gold is prominent as a value storing asset. In chemical term, gold is a chemical element with symbol Au and atomic number of 79. This metal has the high thermal and electrical conductivity, resistance of corrosion and malleable characteristics (Wikipedia, 2009). Gold has an atomic number of 79 and atomic weight of 196.967. Gold has high melting point which at 1064.43 °C. Beside, gravity of gold is 19.3 and can be explained as 19.3 times weight than equal volume of water (National Mining Association, 2004). 2.3 Gold investment prospect in Malaysia Gold is an efficient investment vehicle for preservation of wealth and a store of value during the economy volatility especially the high inflationary period. The special features of gold such as diversifier, safe haven, inflationary hedge, universal acceptance, and transportability have make the gold demand the superior choice for investment purpose. In Malaysia, investors have some ways to participate in the gold investment market either physically and non-physically holding of gold. Firstly, we discuss the physically holding of the gold in Malaysia. The Commercial bank investment branches have contributes some fine-tuning gold investment account such as Maybank, Public Bank, Standard Charter Bank, and Bank Negara Malaysia. Maybank offers their gold investment account which called Gold Savings Passbook Account (GSPA). The minimum first purchase is 5 grams only. The weight of gold holdings can be converted to Ringgit Malaysia at the prevailing market gold price and the selling price will be update at the Maybank website from time to time (Maybank, 2008) Public Bank provides the Public Bank Gold Investment Account for investor to participate at the gold market. Public Bank Gold Investment Account having the similar concept with the Maybank Gold Saving Passbook Account. The only difference is the minimum first purchase is 20 gram. Bank can make available the physical gold upon customer require physical withdrawal of gold. A minimum quantity of 2 grams of gold should be maintained by the customer as an assurance of the account is in active mode (Public Bank, 2008). Standard Chartered Bank Malaysia Berhad offered its retail investment gold to investor with the launch of Premium Currency Investment Gold (PCi Gold). PCI Gold is a dual currency investment which means that contain both USD and gold. However the minimum amount of 250,000 is required to operate the account with the possession ranging from one week, two week and one month (Standard Chartered Bank). For the gold investment passbook provided by the Public Bank and Maybank is quite similar, the trading record for the gold investment is recorded in a passbook provided to investor. This type of gold investment in generally back by the real gold. However the disadvantage of the gold investment passbook is the investor will not be given any interest and dividend. Investors just make a profit when they sell the gold at higher price. In addition, the bank will charges the gold investment passbo ok holder when the convert or sell their gold holding. When investor buy the gold through the gold investment passbook the price will be slightly higher that the prevailing world gold price. Bank Negara offers the Kijang Emas Gold Bullion Coins. By issue the Kijang Emas Gold Bullion Coins, Malaysia become the 12th country issue its own gold bullion coins. The Kijang Emas Gold Bullion Coin purchase and reselling price is determined by the prevailing international gold market price (BNM, 2002). Investor can buy other bullion coins in some international company such as the Canadian Maple Leaf, American Eagle, and Australian Kangaroo Nugget. The gold investment that involve in non-physically holding of the gold in Malaysia includes gold fund, gold related fund and units trust that involve gold as a core element. The exchange trade fund (ETFs) which is trade similarly as stock or bond. ETFs track the index movement and performance and it is listed on stock exchange (Bursa Malaysia, 2009). Gold exchange trade fund (ETF) is another option for investors and it is listed and traded just as the stock exchange. ETFs enable investor to take part in gold market without investors physically own the gold because it tracks the price performance of the gold bullion. However gold exchange trade fund is still not available in Malaysia. Investor can invest in ETF in Singapore through foreign trading account offered by a local securities firm and investor is subject to the currency risk Gold fund and gold-related funds can be defined as unit trust funds that pool investor fund for investment in gold and other precious metals and investor vary from individuals, corporations to government institutions with common investment objectives. Investor can benefit from the expertise of fund manager who administer the pool fund investment rather that do internal data collection by themselves. There are only one gold fund is available in Malaysia with the minimum investment set at US$150,000 which equivalent to RM513, 000. For gold related fund, investor can just invest minimum of RM 1, 000 to diversify their investment portfolio. (New Straits Times, 2009) The above information provides an insight and general idea to the way to participate in gold investment industry in Malaysia. Investors need the timely information to make their decision on selecting the proper way go investment and investment instrument. According to Lutter (2008), investor will search for the particular investment vehicle before they add the instrument into their investment portfolio. Investor will normally seek information for these four categories, individual, salesperson and advertisement, public communication instruments and personal observation. 2.4 The independent variables of the intention to adopt gold investment among Malaysian In this chapter, the independent variables that are expected to have significant relationship toward the intention to adopt gold investment will be examined. The dependent variable is the intention that Malaysian investor employ the gold investment as part of their investment portfolio. The potential independent variables are the inflationary hedge, currency rate, diversifier and safe haven, time horizon, third party influences, cultural influences, risk averse, advertisement, and professionalism. The independent variable is grouped according to Maheran, Nursuzila and Aspiyati (2008) which adopt the theory of reasoned action. Besides, some mortification is made to tally with this research special requirement. The advertisement and professionalism is common type of independent variable that influences the adoption of some products or services. Advertisements play an important role to persuade consumer intention to accept the products and services. Professionalism is needed especially for the investment sector; investors are generally employs less information than the agent and the professional in the field. 2.5 Economic Factor and gold investment Purchasing power of gold is maintain even the transformation of the era is remarkably significant and the purchasing power of the contemporary currency is diminished gradually (Greer, 2005). In year 1945, Breton wood agreement which endorse by the United States Congress was set the gold exchange standard. The standard involves setting par values for currencies in term of gold and the member countries is required to convert foreign official holdings of their currencies into gold at the prevailing par value. Breton wood system had fixed the 35 US dollar equivalent to 1 ounce of gold to establish the global currency standard (Dammasch, 2005). According to world gold council (2009), the current gold price is increase sharply and currently one ounce of gold is approximately equivalent to 1079 US dollar per ounce. From the above , we can notice that the purchasing power of US currencies has generally declined due to the impact of rising prices for goods and services. Consequently, gold is always in pursuit by the investor when there is fluctuation in the currencies and economy. According to World gold council (2006), the robust growth of the gold investment demand recent year can be attributed to the factors such as macro-economic and the political instability. Economic factors have high contribution to the gold investment demand and the US dollar plays a crucial role in this aspect. According to Levin and Wright (2006), gold is prominent for its inverse relationship with the US dollar. During the drop in the currency rate of the US dollar recently, the gold price had shown a robust upward shift in the price. The currency factor contributes to investor decision making framework in adoption of gold investment (Boye, 2005). The inflationary hedging ability of gold and currency rate volatility is the key independent variable in this research and it is widely study by many of the professors (eg. Lutter, Sjaastad, Larry Scacciavillani, Worthington Pahlavani and Greer) 2.5.1. Inflationary hedge and gold investment Under the overwhelming financial emergency in 2008, investors are alert to the predictable inflation in the coming future; they realize the advantage of possessing gold, this drive the gold investment demand in China (China research and intelligence, 2009). In consistent with the china research and intelligences finding, world gold council researcher shown that the gold price remains high and stable at around US$ 989/oz in the first quarter of 2009. The scenario is driven by the anxious of investors toward the stability of the financial system, risk aversion, future possibility of inflation and as well as deflation (WGC, 2009). The World gold Council and China researcher predict the gold demand increase during the late 2008 is driven by the inflation and economy uncertainty. In Lutter (2008) study he shown that investor treat gold investment as the superior investment instrument and belief it will give the return which is higher that the inflation rate. Thus investor will demand gold during the inflationary period. According to Worthington and Pahlavani (2007), they claimed that commodities are the best way to hedge against rising prices which reduce the returns of purely financial assets like stocks and bonds. Worthington and Pahlavani point out that gold is special which unlike most commodities; gold is durable, relatively transportable, universally acceptable and easily authenticated. The commodities hedging ability is supported by Ranson and Wainwright (2005)

SOCIETYS SLAVES :: essays research papers

The books Brave New World, by Aldrous Huxley, and 1984, by George Orwell, are alike because they have comparable organizations. By using brainwashing techniques, censorship, and the obliteration of history, the leaders in Brave New World and 1984 control the thoughts and recollections of the people in their societies. Without using these techniques, the societies being controlled could not exist, because the people would not be disciplined like they needed to be. The citizens in these societies are slaves of the leaders, but cannot resist or do anything to change things for themselves. Chiefly, brainwashing was essential to accomplish while the children were young because then it would ensure that they would grow up to be model citizens in the society. Principally, love was disallowed in both societies, by the virtue that it would cause problems. Fights would begin over relationships that would cause uncertainty that was not needed in the society. When the citizens Brave New World were young, they were involved in sexual games that would introduce them to sex and portray it as something casual. "†¦.this little boy seems rather reluctant to join in the ordinary erotic play." (Brave New World, pg. 30) As they got older, they were not able to know love, or would not be able to distinguish it from sex, so it became the norm to 'have everyone'. In 1984, marriages were allowed, but on the grounds that the two people getting married were not in love. They wanted the people to feel like they were only getting married to be of service to the party (when their children were set up working with the Spies, growing up to be pawns for the Party). The one they were supposed to love was Big Brother. "You must love Big Brother. It is not enough to obey him you must love him." (1984, pg. 201) Everyone was designed so that people would feel like they were existing for the Party, and the Party is virtuous. People's reactions towards death was also deteriorated in Brave New World, so people would not show anxiety if one of their friends died. "What are these filthy brats doing here? It's disgraceful." "Disgraceful? But what do you mean? They're being death conditioned." (Brave New World, pg. 208) They would just continue on living in the society, as existing happily and productively was their purpose. In 1984, emotions about occurrences like death was frowned upon as well.

Sorcery In Morocco :: miscellaneous

Sorcery In Morocco According to Merriam- webster’s Collegiate dictionary, sorcery is defined as the use of power gained from the assistance or control of evil especially for divining. Sorcery is a phenomenon that has spread all over the world. It mainly consists of direction of the world into a spiritual power which is mysterious and unexplainable. In Morocco, sorcery is a very popular practice. It is practiced especially in the south of the country where people have strong beliefs in superstition. Believers in sorcery pretend that it has a great impact on the course of their lives. However, sorcery is a dangerous practice that affects the mind and the health of its users, in addition to the reputation of the country. At first glance, it seems to me that the most perilous impact of sorcery is its effect on the mind of those who practice it. Some believers might argue that these practices build self confidence. For instance, when a sorcerer assigns to them to do some rituals in order to make an operation successful, they face without fear. I totally disagree with them because as proved in many researches, those states of mind are only psychological and create a lot of mental troubles and instabilities. In Morocco, there is a huge population that completely believes in those practices. Therefore, the witches take profit from the ignorance of those people to start communicating some dumb information. In general, the information given by those sorcerers are common and related to the problem and the personality of the individual. Sorcerers are usually very intelligent and know exactly what the patient wants to hear. As a consequence, people become addicted to these kinds of practices and prefer it to c onsulting psychologists who can provide them with more accurate solutions. As a result, people become easily influenced, which by the way affects their personalities. The practice of sorcery in Morocco threatens the health of its users. Some sorcerers believe that their remedies are made from natural plants and do not menace the health of their patients. However, what is strange is that they always refuse to take their products to medical centers so that they can be Furthermore, people who have allergies can also suffer from dangerous diseases due to the fact that they take what their sorcerers give without the prescription of their doctors. Another important area that is suffering from this practice is the reputation and the culture of the country. Sorcery In Morocco :: miscellaneous Sorcery In Morocco According to Merriam- webster’s Collegiate dictionary, sorcery is defined as the use of power gained from the assistance or control of evil especially for divining. Sorcery is a phenomenon that has spread all over the world. It mainly consists of direction of the world into a spiritual power which is mysterious and unexplainable. In Morocco, sorcery is a very popular practice. It is practiced especially in the south of the country where people have strong beliefs in superstition. Believers in sorcery pretend that it has a great impact on the course of their lives. However, sorcery is a dangerous practice that affects the mind and the health of its users, in addition to the reputation of the country. At first glance, it seems to me that the most perilous impact of sorcery is its effect on the mind of those who practice it. Some believers might argue that these practices build self confidence. For instance, when a sorcerer assigns to them to do some rituals in order to make an operation successful, they face without fear. I totally disagree with them because as proved in many researches, those states of mind are only psychological and create a lot of mental troubles and instabilities. In Morocco, there is a huge population that completely believes in those practices. Therefore, the witches take profit from the ignorance of those people to start communicating some dumb information. In general, the information given by those sorcerers are common and related to the problem and the personality of the individual. Sorcerers are usually very intelligent and know exactly what the patient wants to hear. As a consequence, people become addicted to these kinds of practices and prefer it to c onsulting psychologists who can provide them with more accurate solutions. As a result, people become easily influenced, which by the way affects their personalities. The practice of sorcery in Morocco threatens the health of its users. Some sorcerers believe that their remedies are made from natural plants and do not menace the health of their patients. However, what is strange is that they always refuse to take their products to medical centers so that they can be Furthermore, people who have allergies can also suffer from dangerous diseases due to the fact that they take what their sorcerers give without the prescription of their doctors. Another important area that is suffering from this practice is the reputation and the culture of the country.