Toothpaste Research Proposal

DENTALCARE WHITENING TOOTH GEL RESEARCH PROPOSAL Table of contents: Introduction†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. 3 Five The Pre-launch research is an important tool to manage and understand the impact of the market environment and the various other factors that decide the future of the product.When a product is launched, a research or analysis is required regarding the product functionality so as to estimate the benefits from the product and its attraction towards the consumer class or end users. A Product launch may prove a failure without any appropriate research or Pre-Product analysis. The following proposal is based on the research methodology implemented during the research proposal of a Tooth Gel. The current discussion will involve the describing of the various features and qualities of the Whitening Tooth Gel and also how to introduce the software in the competitive Oral Care market.We will al so discuss ways and measures that are taken to assure that the product reaches to every individual and they are benefitted with the product’s usage thereby bringing profits and goodwill to the organization. To summarize, the aim of this research proposal is to understand the market policy and strategy upon introduction of a new product. FIVE YEAR PLAN This Five year plan has been created by the founders of DENTALCARE to ensure a constant funding towards growth and to inform the employees of the company’s current status and direction.DENTALCARE with their CEO Mark Scott and the Marketing Director Thomas Lube is a new organization with high potential of providing exceptionally good products to its consumers and to capture on a big market share in the coming 5 years. They plan to start it with by introducing the product to the classes and then gradually reaching to the masses. The marketing environment has been very receptive to the firm’s great quality Tooth Gel a nd observing that, the firm can increase the promotion, distribution and production of its product in the coming years.DENTALCARE was founded by its two partners, Mr Mark Scott and Mr Thomas Lube around a year ago. Since then, both of the entrepreneurs have been studying and closely following the Oral Care market to understand the business strategies being implemented currently. They have also been keeping a close observation on the consumer behaviour towards a product and its changing approach on when and why to switch over to a different brand. Over the last few months, they have been working together to discover the ultimate Tooth Gel which will comply to the consumer expectations in every term i. e. uality, pricing and overall satisfaction. At present, Mr Mark Scott handles the position of the Chief Executive officer (CEO) and handles all the operations including R and D and Manufacturing whereas Mr Thomas Lube is the Marketing Director handling the Pre Product Projection in the market and Customer experience. Together they have come up with a new Tooth Gel called Whitening Tooth Gel and are ready to launch it in the Toothpaste/Gel market. DENTALCARE’s Whitening Tooth Gel comprises of 100% pure natural ingredients to provide complete Oral satisfaction and is an All-in-One solution to all the Dental and Oral problems.Major functions of this Tooth Gel are to prevent cavities, remove plaque and stains, fight against oral germs, strengthen enamel and teeth, prevent tartar, and provide long lasting fresh breath and much more. Ingredients like clove oil and mint give a really nice after brush experience that lasts longer. Moreover, the makers of this tooth gel have advised that the regular usage of this gel will reduce down the tooth decay by 65% in all age groups. The company has a dream to capture a big chunk of Oral Care Market share by introducing the product to both the classes and the masses.They aim for the product to be affordable by every individ ual and based on this expectation, their management have created a Plan that highlights their expected growth and sales number for the next 5 years. They do plan to introduce further new products once they have the consumer attention focused to their product. Below is their expected first Year revenue for their product Whitening Tooth Gel: Year One Expected Inputs|   | |   | 1. Expected Year One Revenue |   | | Whitening Tooth Gel| Annual revenue | AUD 300,000| |   | Total year one (noninterest) revenue| AUD 300,000|   | 2. Credit Loss Provision probability| 2%| |   | 3. Annual Taxation Rate| 24%| |   | Expected Growth Rate for the first 5 years: 3-7% UNDERSTANDING ISSUES This Tooth Gel research is based on a series of methods for conducting research in the corporate world. The Tooth Gel and Toothpaste market is captivated by various brands and their own mission statements. Famous brands among the consumers like Colgate, Oral-B, etc have a captivating hold on market du e to their own market strategy. Therefore, majority of them are successful to qualify the requirements of the customers.Whitening Tooth Gel has a strong focus on its objectives with those of its trade partners in an appropriate manner to maintain a healthy relationship. The Organization understands that the good results are produced when the process is rightly followed. Whitening Tooth Gel has also developed its company’s ethics and principle that relate to their consumer class. These guidelines provide a great impact in meeting business targets and is committed to its values thereby upholding its highest standards in maintaining customer relations.Whitening Tooth Gel is a new product by DENTALCARE in the current market. Hence the concern is that will a new product be able to grow and capture a significant share in the Oral Care Market. With proven results from pre-launch analysis, will it be easy enough capture the market once the results are seen on a real time basis i. e. response from the consumers. The company may emphasise on marketing research and analysis as to understand the consumer viewpoint on their buying strategy and behaviour towards a new consumer product. VALIDATING THE PROPOSED RESEARCHThe first question that arises is that how will a consumer respond to a new brand of an existing commodity in the market? When it comes to the purchasing, consumers often have an organized approach in what and when to buy. The company must come up with an innovative and almost perfect idea to strategize the marketing research when there are quite a few brands available in the similar product category. A thorough understanding of the consumer buying power and strategy is essential before launching the product. Thus the first task is to divert the consumer attention towards the product by advertising and promotional campaigning.Simultaneous emphasis has to be given to the consumer’s interest, requirements and their expectations from the product. Her e we see the implication of the Market research theory. Once sparked, the interest can lead to the beginning of a new relationship between the consumer and the company which becomes product driven. Once the decision is made by the consumer, it becomes a big responsibility of the manufacturing and research unit of the organization on keep up to the consumer’s expectations and sustains the consistency in delivering the best.The product distribution should be as good as its promotion and the product should be readily available to every individual. Product awareness is within the hands of the marketing and research procedures and largely contributes in providing the products to the majority of the masses. The consumers are not tied up with any contract with a certain brand. They stick to it as long as the brand sticks to its commitment. It’s easier to create a consumer relationship compared to maintaining it in future. RESEARCH METHODOLOGY AND DESIGNThis Methodology proced ure includes various sub categories such as phases, methods, technique task and tools. These sub-categories will highlight the following ways: * To introduce the new product in the existing market * To analyse and develop on the principles of methods and * To successfully validate it i. e. both scientifically and systematically. We followed Descriptive research process to analyse and understand the idea about the research proposal. The results however may vary depending upon a number of economical and ethical factors. The process helps a lot in enhancing the consumer feedback.Qualitative techniques can be performed on the selection of one brand over the other to obtain certain parameters which are of utmost importance in deciding for a Tooth Gel brand. Each key point can be utilized for further development of surveys. The research would most likely be a Brand equity research or Buyer behaviour research. Listed below are a few key questions to understand a consumer’s behaviour towards a newly launched product:. Questionnaire: 1) What Age group do you fall in? 2) Do you brush your teeth twice a day? 3) Are you branding conscious when it comes to buying? ) Why did you prefer Whitening Tooth Gel? 5) Are you satisfied with the product pricing when compared to the results produced? 6) Is there any room for improving the product thereby improving consumer experience? Listed below is the data of a few Blacktown residents who took part in the Sample survey by using Whitening Tooth Gel sample packs offered by DENTALCARE: Sample Frame: Residents of Blacktown NSW Sample Unit : Age Group 21-40 years Sample Size : 50 feedbacks Time Frame : 3-4 weeks Sampling Method: Random Survey. CONCLUSIONThe pre-launch analysis/research immensely contributed to understand the buying behaviour of consumer for their Toothpaste/Gel brands and also helped in understanding about the awareness among people on Oral health. Oral care is one of the most important factor in maintaining over all body health and people are very much aware about their product selection criteria. Different Toothpaste/Gel companies have a focus on the consumer class, their buying capability and their attitude towards preferring a Toothpaste/Gel brand over another and are working harder and smarter to attract more consumers by coming up with more improvements and innovation.The Pre Launch understanding of the Oral care market and the products available is the key result extracted from this research. This research has enabled the company to identify the key areas where the customer would focus when it comes to switching over to a new brand. This nature of customer shall help a lot for our Tooth Gel as Whitening Tooth Gel possesses all the qualities which customer want and is a perfect remedy for all kinds of dental issues. Simultaneously, Advertisements and Campaigning can be done in order to promote the product sales and inturn receiving better consumer experience.Since Dental awareness play s a vital role in overall fitness of human body, free dental check up camps and concessional services to elderly people can actually divert consumer attention towards a product that has already proven its worth on a real time experience. This will help in maintaining a healthy and long term relationship between an organization and the consumer class. References: 1) Australian Bureau of Statistics, viewed on 24th Nov 2012 : http://www. abs. gov. au/ 2) Toothpaste/ Gel, viewed on 24nd Nov 2012 http://www. herbalTooth Gel. et/ 3) Marketing Strategy Material, viewed on 24nd Nov 2012 http://futureobservatory. dyndns. org/2012. htm 4) QUCK MBA, viewed on 25th Nov 2012 http://www. quickmba. com/marketing/research/qdesign/ 5) StudyMode,viewedon2ndoct2012 http://www. studymode. com/essays/Tooth Gel-Marketing-Research-Proposal-800471. html? topic 6) Zeithaml, V. A. (1988): Consumer Perceptions of Pricing, Quality, and Value: Journal of Marketing, 52 (3) 7) Five Year Sample Marketing Plan refe rence from: www. iowacentral. edu/business/BCD/contests/MarketingPlan. doc

Euthanasia: One’s Choice of Life or Death Essay

In recent years euthanasia has become a heated debate. Euthanasia has Greek roots as a â€Å"good death.† Euthanasia has many definitions. Euthanasia is considered to be voluntary when it takes place in accordance with the wishes of a competent individual. Nonvoluntary euthanasia is done without knowledge of the patients’ wishes either because the patient has always been incompetent, is now incompetent, or has left no Advanced Directive. Involuntary euthanasia is done against the wishes of the competent individual or against the wishes expressed in a valid Advanced Directive. Assisted suicide is usually defined as a specific situation in which there is a suicide, that is, an act of killing oneself intentionally. Physician assisted suicide is when the individual is given a lethal drug which they can use to kill themselves whenever they choose. Although the definitions may seem clear, there is much confusion about the words used to describe euthanasia and other actions that result in hastening death. Three states, Montana, Oregon, and Washington, have legalized euthanasia. My argument is euthanasia should be legalized in all fifty states. One point of the heated debate is the slippery slope that could possibly occur if euthanasia was legalized. Professor Phil D. Frey states that â€Å"We need the evidence that shows that horrible slope consequences might occur, as noted earlier, does not constitute such evidence.† In other words Phil D. Frey is saying it is possible that slippery slope effect can occur, but nothing shows that it is likely to happen. In Oregon, there are many steps before one can qualify for euthanasia. These steps ensure that no slippery slope can occur. In Andrew Walters view, â€Å"The Oregon Death with Dignity Act† has served as a model statue in other state attempts to pass assisted suicide legislation. The act has several important provisions, read altogether, provide safeguard for the terminally ill, the physicians that diagnose their terminal illness and the pharmacist that prescribes the lethal drugs.† The essence of Andrew Walters argument is that The Oregon Death with Dignity Act was a strong first step towards the legalization of euthanasia around the world. It shows that the legalization if euthanasia would not cause a slippery slope. The  act has many safeguards and provisions to prevent slippery slope. In 2006 Oregon passed the Death with Dignity Act. To request a prescription for lethal medications the Death with Dignity Act requires: †¢ 18 years or older  Ã¢â‚¬ ¢ Resident of Oregon  Ã¢â‚¬ ¢ Capable and able to make and communicate health care decisions †¢ Diagnosed with a terminal illness that will lead to death in 6 months Once meeting the above requirements, the following are some of the steps that need to be followed in requesting a lethal medication: †¢ The patient must make two oral requests to the physical separated by at least 15 days †¢ The patient must provide a written request to the physician signed in the presence of two witnesses †¢ The prescribing physician must inform the patient of feasible alternatives to assisted suicide, including comfort care, hospice care and pain control. Those who oppose euthanasia argue that slippery slope is most likely to happen. Most opponents will tell you that euthanasia is a step towards the legalization of murder. They argue people will end their lives because they are tired of living or see no worth in it. The opponents argue that the poor, minorities, the mentally ill, and the physically challenged will be some of the targeted groups of euthanasia. I argue the opponents are mistaken because they overlook the provisions and safeguards of the â€Å"Death with Dignity Act.† Another issue is the human right to life and self-determination. According to Walter Andrew, â€Å"Assisted suicide places the individual in control of his or her future allowing the individual to decide how, when and where they die.† Practical concerns also face the dying. After a terminally ill person watches his savings plummet while his medical costs and insurance premiums increase rapidly. Those unfamiliar with this school of thought may be interested to know that it basically boiled down to an individual’s right to determine their end of life decisions. The United States Constitution protects our right to life and liberty. Opponents argue that the human right to die is not a fundamental liberty interest protected by the due process  clause and that physicians are bound by the Hippocratic Oath, â€Å"First, do no harm.† I argue that physicians are not doing harm to patients. If a patient is in unbearable pain the physician is helping the patient by taking him out of his misery. If a competent individual is terminally ill, he should be able to control his destiny. If he cannot tolerate the pain, the pain cannot be managed by pain medication or he feels that he is a burden on family/community/society, it is the person’s right to determine if he wants to live. This right is consistent with the values of the human right to life and right of self-determination. One short but important fact is that if euthanasia were made legal, the patient would have had to have received the best medical care and pain management possible. This could reduce the chances of a slippery slope. It can also create healthier doctor-patient relationships by removing the fear of overtreatment. Euthanasia can be necessary for the distribution of health resources. Around the world and especially in America there is a shortage of health resources. Some patients who are ill and can be cured are not able to get speedy access to the facilities they require for treatment. Also, health resources are being used on people who cannot be cured and those who would prefer to die. Allowing those committed to euthanasia would not only let them have what they want, but will free valuable resources to treat people who want to live. Allowing the person who wants to die to initiate the process would prevent abuse. Those who oppose this will argue because they believe that such a proposal wide open to abuse and will ultimately lead to involuntary euthanasia because of the shortage of health resources. I argue that euthanasia is a good way to free up resources for those who need the care and want to live, instead of using it on those that want to die. In conclusion, the debate about the legalization of euthanasia will continue for years to come, but I believe that the arguments for legalizing euthanasia overpower the arguments against it. Assisted suicide is a quick and painless death, instead of going through months of pain; the patient can end their life on their own terms. The Death with Dignity Act ensures that the slippery slope will not happen. To preserve the dignity of human life, it is important that the remaining states and the federal government  legalize euthanasia to provide a safe and dignified way for terminally ill individuals to end their suffering. Works Cited â€Å"Arguments in Favour of Euthanasia.† BBC.com. 14 Apr. 2010. Web. 22 Apr. 2010. . â€Å"Arguments Against Euthanasia.† BBC.com. 12 Apr. 2010. Web. 22 Apr. 2010. . â€Å"Encyclopedia of Death and Dying.† Euthanasia. N.p., 12 Apr. 2012. Web. 22 Apr. 2010. . Gorosh, David J. † .† Oakland Free Press [Oakland] 20 Mar. 1999: n. pag. Web. 22 Apr. 2010. Honan, Mathew. â€Å"Legalize Assisted Suicide.† Wired 17.10 (2009): 110. Science Reference Center. EBSCO. Web. 1 Apr. 2010. Stokely, Anne. â€Å"Counter Point: The Right To Assisted Suicide. â€Å" Points of View: Assisted Suicide (2009): 6. Points of View Reference Center. EBSCO. Web. 1Apr. 2012. Walter, Andrew. â€Å"Point: Euthanasia Should Be Legal.† Points of View: Euthanasia (2009): 2. Points of View Reference. EBSCO. Web. 1 Apr. 2010.

1963 March on Washington for Demonstration

Men skiing from Chicago to Washington for the demonstration Washington Parade in 1963 was a major event in the tradition of orderly non-violent protest behavior. Asa Philip Randolph who proposed in Washington in March 1933 tried marching in Washington more than 20 years ago. At that time, he accepted President Roosevelt's orders, founded a fair employment practice committee, and the parade of 1940 was canceled (Saunders 16). However, there were increasingly reasons to follow this path in 1963; black's unemployment, violence against the Birmingham demonstrators and civil rights law have reached their greatest interest at the moment, and the parade may not wait anymore I do not. In June 1963, just before March in Washington, 60% of Americans (undoubtedly, because more than 70% of Caucasians received support of high levels of blacks), civil rights demonstrations were a hindrance to the progress of black people I said. Help the obstacles. In fact, this means that most white people think they know more about the needs of blacks than real blacks. Although the voting right bill was not yet established in 1964, blacks did not vote in the whole southern part, but while discrimination in houses continued, fair housing law was not discussed for 4 years, 4 minutes Three Americans are over 80%. Caucasian said that black people should cease protesting their rights On August 28, 1963, about 250,000 people participated in Jobs and Freedom in Washington, whether black or white. This is the biggest demonstration of the nation's capital history and expansion of the civil rights movement. The most important show. After marching from the Washington Monument, the demonstrators gathered near the Lincoln Memorial, and several civil rights leaders spoke with the crowd seeking voting rights, black equals employment opportunities. More than 250,000 demonstrators attended the capital on August 28, 1963 to participate in Washington in March for Employment and Freedom. This is not only the largest human rights demonstration in American history but also a rare show of solidarity in various civil rights groups. The event began at the rally at the Washington Monument. There were several celebrities and musicians there. Later, the participants marched to the memorial hall with a mile National Mall. The three-hour program at the Lincoln Memorial Hall contains prominent civil rights and lectures by religious leaders. This day ended with the White House Summit Meeting with President John F. Kennedy, the leader of the White House.

Summary response essay Example | Topics and Well Written Essays - 500 words

Summary response - Essay Example The Fourth Trust is a memoir of Dr. Jane Goodall that elaborates how her childhood experience in caring for all sorts of animals taught her important values in life such as respect and care for nature. The basic tenet of Dr. Goodall’s philosophy comes from this statement â€Å"Children’ relationship to animals then can be a means of teaching compassion and kindness† ( Jane Goodall and Mark Bekoff, The Fourth Trust,p.69). Even as a young child, Dr. Goodall learned about compassion by actively engaging with her natural surroundings. Living in apartment never stifled her interests for creatures as she kept a dog in their apartment. As soon as their family moved to a house with a backyard, she pursued her dream of caring for whatever animal needed her attention. Even her little misdemeanor that called the police into her house was the result of her curiosity about where eggs really come from. The Fourth Trust tells us that children who were exposed to animals â€Å"tend to be kind to animals as adults and to be loving and compassionate individuals â€Å"(Goodall and Bekoff, p.68). A concrete example of this was the case of the orphan named Peter. The child’s first experience with the white rabbit taught him a different perspective in life. He suddenly became concerned about the rabbit by asking if it was hurt when he stroked it. If all children coming from disadvantaged families have the chance to interact with creatures in a loving manner, perhaps, they can become more kind to other humans as well. An animal is a creature not capable of fighting back to a human being unless it is a wild animal of course. People learn tolerance and respect when they do not abuse their power and pick on weaker beings. Because of this situation, Dr. Goodall made it her life’s mission to spread to the world her philosophy. The dream became true when teen-agers in her community expressed their

Technical factors affecting e-banking development in Iran Dissertation

Technical factors affecting e-banking development in Iran - Dissertation Example Research questions The purpose of this study is to get greater understanding of e-Banking phenomenon and find out its implementation obstacles in Iran. In the conduct of the collection of data; both primary and secondary data, it is important that the researcher has a guide on the kind of data to collect and which ones to ignore. In doing this, the following research questions have been set to guide the researcher on the exact data to go after. Therefore, the researcher tries to reach this goal by answering the following questions. 1 What have been the hindrances to the advancement of e-banking in Iran? Problem Overview In recent years acceptance of e-Banking has been rapid. In many west countries like Finland over 50% of bank customers use e-Banking services. On the other hand some evidence shows half of new customers that have used e-Banking for the first time, do not continue using this channel as an active customer.(reference needed) the development of new technologies in communi cations and information practices and the emergence of new services and increasing expectations and needs for banking services market caused our public and private banks to compete for providing new e-banking services. E-banking in recent decade has been carried out with various implementations in our country by a variety of public and private banks. Now each bank more or less seeks for efficient use of this new technology. However, it seems the use of e-banking is still not institutionalized in the culture of our people, and customers still do not use this technology with trust for large financial transactions. The Central Bank of Iran (CBI) observes that not many companies and organisations are taking advantage of... The paper tells that in recent years acceptance of e-Banking has been rapid. In many west countries like Finland over 50% of bank customers use e-Banking services. On the other hand some evidence shows half of new customers that have used e-Banking for the first time, do not continue using this channel as an active customer. the development of new technologies in communications and information practices and the emergence of new services and increasing expectations and needs for banking services market caused our public and private banks to compete for providing new e-banking services. E-banking in recent decade has been carried out with various implementations in our country by a variety of public and private banks. Now each bank more or less seeks for efficient use of this new technology. However, it seems the use of e-banking is still not institutionalized in the culture of our people, and customers still do not use this technology with trust for large financial transactions. The C entral Bank of Iran observes that not many companies and organisations are taking advantage of e-business as penetration rate in e-business is still very low. Iranian banks have made huge investments into e-business but this has not succeeded in changing the trend. According to BBC news 60 †¬percent of Iranians go to banks only to receive or pay cash to the banking network. Iranian banks talk about the spread of e-banking while Iranians spend a lot of time to pay the bills for water, electricity, gas, phone, or transferring money to other accounts and sometimes they stay in line for hours to receive or pay cash.

Gold Research Paper Example | Topics and Well Written Essays - 1750 words

Gold - Research Paper Example Introduction Gold is a dense element having a shiny, soft and malleable surface. Its chemical symbol is Au which comes from a Latin word Aurum. It has an atomic number of 79. Gold is among the non-reactive metal, thus, it many functional uses in manufacturing industries and natural environments. It has rust resistance i.e. does not react with oxygen. It is a good conductor of electricity being able to convey a very tiny electrical current in temperature ranging from -550 to +2000. 1 This metal is among the most ductile metals, thus, it allows to be molded into very small threads or wires without breaking. Furthermore, gold is malleable. This makes it possible to be shaped into extraordinary thin sheets. It is known to be the least absorptive material, but most reflective of infrared energy. Gold with a high purity has the capability of reflecting 99 percent of infrared rays. Also, gold is among the best heat conductors or thermal energy. This makes it to be used to transfer heat away from very delicate instruments, like electronics. Gold alloys, being the most tenacious and long performing material that is used to guard electronics against high temperatures produced by them. Place on earth where gold is mined include Australia, Alaska, Spain, South Africa (Witwatersrand) and other parts of Africa. South Africa remains one of the biggest gold producers in the world. Figure1. Sample image of gold in a pan taken from gold mine in Alaska. Its shinny and can be seen from a far distance in the pan. General properties Below table gives the major general properties of gold which are going to be discussed further and distinguished into chemical or physical classification. General properties of gold. Atomic Mass 196.9655 g.mol -1 Boiling Point 3129 K, 5173  Ã‚ °F, 2856  Ã‚ °C Standard potential +1,68 V ( Au+/ Au ) Ionic Radius 0.137 nm (+1) Vander Waal Radius 0.144 nm Density 19.3 g.cm-3 at 20 °C Electronic Shell [ Xe ] 4f14 5d10 6s1 History Discovered Middle easte rn (Before 6000 BC) Table1. The common properties of gold material, It shows both physical and also the chemical properties of gold. Occurrence in Nature It occurs in its compound and also in native state (It’s Free State). 2 Gold is not combined with any other element in nature. Telluride (a compound of element Tellurium) is the most common compounds of gold. For example, gold telluride (AuTe 2) is mostly composed of mineral calavarite. Also, gold is found in Nuggets and chunks large enough to see. 3 This enables people to mine gold by picking and collecting it from the rivers and streams. Gold estimation abundance in the earth crust is around 0.005 Parts per Million. 3 This makes a very small fraction as compared to Iron and other metals. Many people believe that, about 70 million tons of gold are found in oceans. This has led to many ocean exploration of gold by many individuals and also some hold a belief that around 10 billion tons of gold are found at ocean bottoms. How evwer, no one has ever found a means or a mining way to exploit that bottom gold. Researchers are working extremely hard to discover a way to exploit that bottom ocean gold, dissolved in seawater. Figure2. Pieces of gold attached to a chunk of quartz. Gold is found in Nu

Business writing Essay Example | Topics and Well Written Essays - 250 words

Business writing - Essay Example This will impel the reader to read the manuscript. Additionally, short paragraph helps writers in organizing their work. The writers put their ideas in the form of short, unambiguous paragraphs. This also assists the reader in understanding the writer’s message, as it alleviates confusion (Scarry and Scarry 318). Besides, brief paragraphs depict precision. This shows that the writer clearly understands the topic he or she is handling. This in turn motivates the reader into reading the material, thereby enhancing the intended communication. While reading emails, one makes various conclusions, even before reading the text. Long emails seem uninteresting. As such, one feels that he or she will waste time in trying to understand the text. As a result, one reads the first few lines and loses interest. Long paragraphs also seem to contain many ideas (Scarry and Scarry 320). Moreover, long paragraphs show the disorganized nature of the writer. This makes one to draw uncomplimentary conclusions about the writer. As such, many readers will not go over such text. This will hinder communication, and the writer will not pass the intended message. Large paragraphs also depict irrelevancy. Writing emails with large paragraphs offers the reader the intuition that the writer has focused on numerous extraneous issues. Moreover, the reader will take time while unraveling the main

Supply Chain Mgmt for Best Buy Essay Example | Topics and Well Written Essays - 500 words

Supply Chain Mgmt for Best Buy - Essay Example This may be achieved by addressing the customer issues relating to the size, specification and time of demand so that they meet their desires with convenience. This is possible by introducing online customer care services where customers can make enquiries from their homes and get appropriate feedback. This approach will help the company in tracking the behaviour trend of the clients in terms of needs. In-depth and long term relationship with the suppliers: Due to the prevailing global economic uncertainties, it would be safe for Best buy to adopt positive working relationship with the suppliers to track their ability in terms of reliable inventory stocking and ensuring that they have efficient modes of replenishing its stock. Deeper understanding of the supplier will help the firm to formulate and establish supply chain management system that suites the suppliers policies and system and this goes down to cut costs, improve efficiency and encourage innovation. Best buys should adopt a partnership policy that proposes use of same technology for easy co-ordination of supply activities in response to the market demand to avoid customer disappointment which will translate to financial and social cost to the firm. Internal control measures: Best buys need to consider developing sound internal control system that would give guideline on how to achieve its set goals. It is important that tit observe the minimal use of pricing as a competitive strategy but rather adopt other approaches that would give it optimal costing and revenues. To achieve this, they need to develop a system that will help all the management teams to retrieve any information and liaise with both suppliers and distributors. This would help in maintaining continuous flow of inventory thereby eliminating supply cut-off to the advantage of its online competitors like Amazon and EBay. Emphasis on IT technology

LLB UNIT 10 SUCCESSION Essay Example | Topics and Well Written Essays - 1500 words

LLB UNIT 10 SUCCESSION - Essay Example Henry and Len call in to see you and ask the following questions:- Having died without leaving a will or without having made a valid will, Mrs Mould will be considered to have died intestate and therefore the rules of intestacy governed by the Administration of Estates Act 1925 (as amended) and the Intestates Act, 1952 (and various other amendments contained in the Family Provision Act, 1966, The Family Law Reform Act, 1969 and The Family Provision (Intestate Succession) Order, 1972) apply to her estate, which is worth approximately 238,000. By not leaving a will any wishes Mrs Mould had for the allocation of her estate to friends, relatives and other beneficiaries will be ignored. How the estate will be allocated depends on the value of the estate and the deceased's family circumstances. The law in this area is concerned with bloodlines, rather than merit, or the verbally expressed will of the intestate. Not only does it recognise human improvidence, but also that calamities and unfairness occurs within human affairs. It sets out to ensure that there is no discrimination on personal whim. It is not concerned with blame. Due to the increasing complexity of family trees, this area can become ripe for litigation. However, Mrs Mould could be described as being from a 'once-normal nuclear family' where the bloodlines are easily ascertained. If there is both a spouse and children then all personal poss... 2. Surviving children (referred to as 'issue'). 3. Surviving parents. 4. Surviving brothers and sisters of whole blood ie having the same biological parents. 5. Surviving relations of a lesser degree. In the event that the surviving spouse is the only living relative of the deceased (ie no parents or siblings of whole blood), then the estate passes absolutely to that spouse. If there is both a spouse and children then all personal possessions (except business property) and the first 125,000 goes to the remaining spouse free of death duty (inheritance tax) and costs absolutely, with (if possible) interest. The remaining spouse is also entitled to a life interest in half of the residue which is to be invested in a trust from which the spouse will receive income during his/her lifetime. The remaining property then goes to the children via 'statutory trusts'. The definition of 'Statutory trusts' can be found in s.47 Administration of Estates Act 1925. The deceased's property will be held in equal shares for all 'living' (including unborn) children of the estate. On the death of the remaining spouse the children automatically inherit the remaining capital once they reach their majority, ie under current UK law, the child either attains the age of eighteen and/or marries before that age. If there are children but no spouse the estate is shared equally among the children via a statutory trust. Importantly, the child or children of any deceased child (ie grandchildren) will get the share of their deceased parent and if more than one, in equal shares. Where the only remaining relatives are the spouse and whole blood relatives as described above, then the spouse inherits all personal chattels, the first 200,000 plus a life-interest in half of the

The cultural racial other Speech or Presentation

The cultural racial other - Speech or Presentation Example Scheherezade, the young princess who tells the king stories lest she be killed, has become the standard image, in whatever way one is most familiar with that image of her, in considering and thinking of Muslim women. In the movie Sex and the City 2, the character played by Sarah Jessica Parker oozes â€Å"Just like Scheherazade,† when she finds out she and her friends are going to travel to Abu Dhabi.4 Flying carpets, wanton women, and evil magic genies are images that more readily come to the Westerner’s mind than the reality of Muslims and their Islamic faith and culture, which permeates all aspects of their society, politics, and private lives. The images and culture portrayed through Nights is offensive to many Muslims, because it falsely portrays who they are and mires them in a time of antiquity that is long past, not allowing them as a culture and people to participate in the present. This helps put into perspective the hostility with which the West is perceived by Muslims. A cultural â€Å"other† exists in the minds of the Westerner.

The chosen organization that shall be analyzed is Thringstone Supermarket Essay Example for Free

The chosen organization that shall be analyzed is Thringstone Supermarket Essay The chosen organization that shall be analyzed is Thringstone Supermarket, a well run, off license/newsagent located in a village called Thringstone, based in Small Heath. The organisation is owned by a married couple named Mr and Mrs Varu who are the sole proprietors. They sell a variety of products and ensure that customer needs and wants are met. Thringstone Supermarket has many regular customers, as this is one of the main Supermarkets as you enter in to the village. The supermarket is one of the local stores that are recognized by its entire local people as it offers a great variety of products. Within the Supermarket many products are sold including: Groceries Confectionary Newspapers, Magazines   Cards Stationary Alcohol Foods such as dairy products   Frozen foods Automated Teller Machine (ATM) 2.0 DESCRIPTION OF THE SERVICE CONCEPT The service concept is the way in which the customer perceives the organizations services (Johnston and Clark 2001). There are four key elements that form the service concept: à ¯Ã‚ ¿Ã‚ ½ The Service Experience Customers encounter different experiences which may vary from time to time when using a particular service. Mr. and Mrs. Varu can contribute to the service concept by delivering a friendly customer service experience, to make customers feel welcomed, this is what they expect. The customers want to do their shopping in a stress free, friendly environment and this is what Mr and Mrs Varu aim to achieve. Customers also like the noise level to be kept to a minimum when shopping so that they are not easily distracted and so that they can talk amongst themselves. à ¯Ã‚ ¿Ã‚ ½ The Service Operation Mr. and Mrs. Varu and the staff have a personalized basis with there customers, they recognize the majority of there customers and are on a first name basis. There is a trusting relationship between the customers and Mr. and Mrs. Varu and staff, therefore can guarantee that they can ask for assistance when needed without any negative attitude, therefore Mr. and Mrs. Varu provide assistance when required in a friendly manner to help deliver the service successfully. à ¯Ã‚ ¿Ã‚ ½ The Service Outcome This is the result the customer has received from the service provided. Mr. and Mrs. Varu aim to provide customers requirements by delivering there service and products successfully without any problems i.e. queues, no stock available, therefore customers can tell their friends and family by word of mouth that they received high quality service at Thringstones. à ¯Ã‚ ¿Ã‚ ½ The Service Value Shoppers value the experience and outcome in any organization, therefore the value must be cost effective otherwise customers will go elsewhere. Mr. and Mrs. Varu need to ensure that there customers are receiving a value for money service. Mr. and Mrs. Varu ensure that no out of date stock is displayed because customers only want to purchase goods that are to date and having out-of-date stock will give Thringstones a bad reputation which will send customers elsewhere because they are not receiving value for money products. Also, as they are situated in a village, and its miles to the nearest town centre, there ATM must be working at all times so customers can access their money easily instead of having to make journeys into town. The design elements for Thringstone Supermarket is available in appendix 1 3.0 The Servicescape An organizations servicescape describes the physical and informational surroundings of the delivery of the service provided. To secure strategy advantages from the servicescape, the needs of ultimate users and the requirements of various functional units must be incorporated into environmental design decisions. (Bitner 1992). * The physical appearance can determine where all products are kept. This can be identified as the process layout, where all similar products are put together, i.e. freezer foods are kept in one place. * The physical appearance of Thringstones also creates an impression to the customers. The letterhead is in white lettering with a red background. This makes Thringstones stand out and therefore inviting due to the bright and bold letters. * Customers require baskets to out there shopping in to, which allows the customers to shop comfortably and without difficulty. * Thringstones is located in a small village, which is easily accessible to customers; therefore the physical location of Thringstones is ideally suitable for customers. * The layout of the shop can help customers, access products easily. The aisles are kept clear and clean at all times in order for customers to gain access to products. * Health and Safety for customers is very important, i.e. if there is a wet floor, a wet floor sign is there for customers. Mr. and Mrs. Varu ensure that security cameras are placed around and outside the shop. * Mr. and Mrs. Varu use an automated stock control system which informs them when stock is low. This can keep control on the availability of products in stock. 3.1 Influencing customer behavior Mr. and Mrs. Varu believe customers behavior can be determined by the servicescape. * The freshness, clarity, and lightness influences customers behavior in the way they shop at Thringstones . If Thringstones has boxes of goods and baskets around the store this will influence the customer to shop in another place. * Products are neatly presented at Thringstones so that they are attractive to look at. Special displays are set out for the best presentation. A messy environment will make customers think twice about where to shop. * Availability of goods is always there i.e. if customers require a certain product that is not in stock, Mr. and Mrs. Varu can make sure that he orders it in so that it is made available for the customer the next time round. * Long queues will make customers uncomfortable, especially if they are in a hurry. Mr. and Mrs. Varu could loose money due to this. 4.0 Process Mapping The service process map combines the insights of flowcharting the service delivery process with the power of multivariate data analysis techniques (Collier 1991). The design of the service is important because the customer is directly and immediately involved in the delivery transaction. The customer is present and involved and they may even serve themselves. Appendix 2 provides a service process map for Thringstones. 4.1 Analysis of Process Map A method for analyzing the process map is by answering a set of questions to derive maximum advantage from it, these questions are obtained from Johnston Clark (2001). * Does the process support the strategic intention? Mr. and Mrs. Varus main objective is to provide a high quality service for there customers. Therefore, Mr. and Mrs. Varu must ensure all customers are able to purchase the relevant stock by firstly checking there stock availability and secondly by ensuring there shelves are fully stocked otherwise delays will be caused by staff having to get the stock from the back office. * Does each activity provide added value? At Thringstones added value activities are existent such as providing baskets, carrier bags and freezer bags. If these were not available customers would have to use there hands to carry their shopping, therefore Mr. and Mrs. Varu would be losing a lot of money due to customers purchasing limited goods. * Who owns and has responsibility for the process? Mr. and Mrs. Varu as well as the customers are responsible for the service process. Without either of them the process would not exist. Appendix 4 identifies the roles and responsibilities for the staff and customers. * How can the process be improved? Mr. and Mrs. Varu must ensure that stock is available at hand for customers, in order to meet there requirements. To maintain that customers can continue to shop in a clean and relaxing environment To ensure staff are fully trained to provide high quality customer service, and are able to deal with all types of customers in the correct manner i.e. difficult customers. If customers are waiting in long queues then Mr. and Mrs. Varu must realize that a new till may be required so delays will not take place. To provide a service where another member of staff packs the customers goods, this will speed the process up in the queues. * How efficient is the process? The process is very efficient as it aims the meet the organizations objectives. However this can only be achieved by ensuring that there is a continuous customer flow without any delays. Delays cause inefficiencies, which lead to dissatisfied customers, therefore Mr. Mrs. Varu are not fulfilling there business objective, which could cause a loss in profits. 5.0 The Service Quality Gap Model The service quality is the gap between a customers expected service and perceived service. A service quality gap model for Thringstones is available in appendix 3, and appendix 3.1 provides an analysis of the Service Quality Gap Model. 6.0 Job Design Mr. Mrs. Varu empower there staff for them to obtain the initiative to make decisions without consulting them first. Empowerment makes employees feel recognized and motivated as empowerment increases employees morale. Therefore empowering there staff will increase there productivity, reputation and provide a better service encounter. Appendix 4 provides the five dimensions to empowerment for Thringstones 7.0 Suggested improvements/recommendations Overall Mr. and Mrs. Varus Supermarket is an operation, which is customer orientated, like any other business operation he wishes to make as much profit as possible and at the same time keep customers satisfied by meeting their requirements. However, like any other business there is still, room for improvement and with the help of such policies and strategies, productivity and profit can be achieved for his business. This can be implemented in three was: 1. Increasing the number of tills in the shop 2. By introducing a Computer Bar coding system 3. Staff can be trained to be multi-skilled By increasing the capacity of tills, by adding in a further till can help in reducing the queuing system. As capacity is linked to time, many customers are not prepared to wait and maybe forced to shop elsewhere, this will lead to a reduction in sale and profit. Therefore by adopting this approach Mr. and Mrs. Varu can result in happier customers, and increase in productivity and even profits maybe achieved. Another area for improvement could be that a barcode system could be implemented, because at present Mr. and Mrs. Varu are running on a manual tilling system whereby they type in the price by hand and this is also another indicator of time wasting, thus leads to frustration for customers. This bar coding system could be implemented by scanning products through a computer which informs them what stock is in and it can also speed up the process dealing with all the customers without them having to waste time in queues. By using the computer bar code system this can help implement the Just In -Time Process. Instead of Mr. and Mrs. Varu going to the cash and carry, he can check on the computer of the goods, which are running low, and have them delivered by the cash and carry, this will result in less money being held in stock and also lead to extra space saved by not having unwanted stock, which can instead be converted into extra shop floor space. Thirdly, staff are to be trained so that they are multi-skilled. This will enable them to carry out a variety of jobs rather than just the ordinary replenishing of stock. For example, if they are till trained then the delivery system will be faster and this will lead to customer satisfaction. Overall, Mr. and Mrs. Varu can have competitive advantage over other newsagents in the area, as they will be using the more traditional approach and therefore by saving storage space, they can convert the back office area into shop floor space, which means they can sell extra products and will mean that customers are happy with the delivery of the service. Bibliography Books: Johnston, R and Clark, C (2001), Service Operations Management, Financial Times Prentice Hall Galloway, L, Rowbotham, F and Azhashemi, M (2000), Operations Management in Context, Butterworth Heinemann Oxford Lecture Notes: Lecture Two Job Design in Services Lecture Five the Design of Service Operations Journals: Bitner, M.J., Servicescapes: The impact of physical surroundings on customers and employees, Journal of Marketion, vol.56, April 1992, pp. 57-71. Gurdarshan Mudhar P01070281

Expository Essay Essay Example for Free

Expository Essay Essay When Anatole France wrote â€Å"to know is nothing at all; to imagine is everything,† he means imagination is very important to life and success. For example, Dr. Seuss had a wild imagination and he was very successful. Also, imagination led to many successful inventions. A world without imagination is like a world with nothing but old businessmen in work suits; very boring. To begin, Dr. Seuss had a wildly active imagination. He wrote everything from â€Å"Green Eggs and Ham,† to â€Å"Horton Hears a Who,† and â€Å"The Lorax. † Similarly, all these stories have made up characters, animals, and even words. The way he wrote these stories inspired numerous kids to have active imaginations. Also, he has inspired more than just kids, even the directors of the drama club at Jackson Memorial High School were inspired by him. Hence, last year the high school did one giant play that combined most of his stories, and made it into a musical. All in all, Dr. Seuss’ imagination led to his extremely successful career. In addition, every invention, successful or failure needs imagination. For example, the Wright brothers had to have some imagination to be able to build the first airplane. Although the first few attempts weren’t successful they never gave up. If it wasn’t for them, there would be no such things as airplanes and we would have to travel to far places by boat or car. Another famous inventor was Steve Jobs. He invented and co-founded Apple computers. Although his first computers were completely terrible, he never gave up. Now, Apple is one of the best companies in the stock market and they just keep inventing new products. If Jobs never imagined about a completely new computer, there would be no such thing as an Iphone or Mac computers. In short, it is impossible not to have imagination when it comes to inventing something. To summarize, imagination is crucial to life and success. For example, Dr. Seuss was a very successful author for his imaginary worlds and characters. In addition, many inventors had very active imaginations, like the Wright brothers and Steve Jobs. If it wasn’t for them, our lives would be more difficult than it already is. In conclusion, the world without imagination  is just simply boring.

Capital Asset Pricing Model (CAPM)

Capital Asset Pricing Model (CAPM) 1. Introduction Markowtiz (1952) did the ground work for the CAPM (Capital Asset Pricing Model). From the study of the early theories we know that the risk of an underlying security is measured by the standard deviation of its pay off or return. Therefore, for a larger risk we will have higher standard deviation of the respective security return. Markowtiz argued that the standard deviations of security returns for any two securities are not additive if they are combined together unless the returns of those two assets are perfectly positively correlated. He also observed that the standard deviation of security return of a portfolio is less than the sum of the standard deviation of those assets constituted the portfolio. Markowitz developed the efficient frontier of portfolio, the efficient set from where the investors select the portfolio which is most suitable for them. Technically, an investor will hold a mean-variance efficient portfolio which will return the highest pay off to them with a given level of variance. Markowitz’s computation of risk reduction is very rigorous and tedious. Sharpe (1964) developed the single index model which is computationally efficient. He derived a common index where the asset return is related with the common index. This common index can be any variable which has influence on the asset return. We can apply this single index model to the portfolio as well since the expected return of a portfolio is the weighted average of the expected returns of the constituents of the portfolio. When we need to analyze the risk of an individual security, we have to consider the other securities of the portfolio as well. Because, we are interested about the additional risk being added to the portfolio when one addition security is added to the portfolio. Thus the concept of risk share of an individual security to the portfolio is different from the risk of that security itself. An investor faces two kinds of risks. One is called the systematic risk and the other is known as unsystematic risk. Unsystematic risk is a kind of risk which can be minimized or eliminated by increasing the size of the portfolio, namely, by increasing the diversity of the portfolio. The systematic risk is well known as the market risk. Because, it depends on the overall movement of the market and the financial condition of the whole economy. By diversifying the portfolio, we cannot eliminate the systematic risk. Theoretically CAPM offers very commanding predictions about how to measure risk and return relationship. However, the empirical evidence of CAPM is not very encouraging. One may conclude that these failings are rooted in poor construction of the model but once can argue that this failing arises because of the difficulties of building comprehensive and valid test model. The estimation strategy of CAPM is not free from the data-snooping bias. Because of the non-experimental nature of economic theory we cannot avoid this problem. Moreover a lot of investigations already have been done to test the validity of the CAPM. Thus, no attempt has been made in this paper to test the validity of the model. Here in this paper we will critically examine some literatures on CAPM testing. We will begin with understanding the model. We will briefly outline some mathematics required to understand the underlying assumptions of the model. Then we will focus on the single and multi-factor CAPM models to a nalyze the model assumptions and restrictions required to hold these models to be true. 2. The Capital Asset Pricing Model Explained   In 1959 Markowitz introduced the notion of mean-variance efficient portfolio. According to him it is optimal for an investor to hold a mean-variance efficient portfolio. The mean-variance efficient portfolio is a portfolio for an investor where he minimizes the portfolio return, given the expected return and maximizes expected return, given the variance. Later Sharpe (1964) and Lintner (1965b) further developed the work of Markowitz. In their work it has been showed that if the investors’ expectations are homogeneous and when the hold the mean-variance efficient portfolio then in the nonexistence of market friction the market portfolio will be a mean-variance efficient portfolio. There are two basic building blocks to derive the CAPM: one is the capital market line (CML) and the other one is the security market line (SML). In CAPM the securities are priced in a way where the expected risks are compensated by the expected returns. As we will be investigating different form of CAPM in this work it is worthy to review the basic notions of CML and SML. The capital market line (CML) conveys the return of an investor for his portfolio. As we have already mentioned, there is a linear relationship exists between the risk and return on the efficient portfolio that can be written as follows: On the Other hand the SML specifies the return what an individual expects in terms of a risk-free rate and the relative risk of a portfolio. The SML with security i can be represented as follows: Here the Beta is interpreted as the amount of non-diversifiable risk intrinsic in the security relative to the risk of the efficient market portfolio. The utility function of the market agent is either quadratic or normal All the diversifiable risks are eliminated The efficient market portfolio and the risk-free assets dominate the opportunity set of the risky asset. We can use the security market line can be used to test whether the securities are fairly priced. 3. The Logic of the Model: To understand the logic of CAPM, let us consider a portfolio M. To clear the asset market this portfolio must be on the efficient frontier. Thus the underlying concept that is true for minimum variance portfolio, must be true for the market portfolio as well. With the minimum variance condition for portfolio M when there are N risky assets, we can write the minimum variance condition by the following equation: Where is the expected return on the asset i and . The market beta for the asset is derived by dividing the covariance of the market return and individual asset return by the variance of the market return, In the minimum variance condition stands for the expected asset return whose market beta is zero which implies that the asset return is not correlated with the market return. The second term of the equation represents the risk premium. Here the beta measures how sensitive the asset return is with the variation in the market return. Sharpe and Lintner focused on three important implications. They are: 1)the intercept is zero; 2) Beta can completely capture the cross sectional variation of expected access asset return; and, 3)The market risk premium is positive. Sharpe and Lintner in their CAPM model assumed that the pay off from a risky asset is uncorrelated with the market return. In their model the beta becomes zero when the the covariance of a asset return offsets the variance of the other assets’ returns. When the borrowing and lending is risk free and when the asset return is not correlated with the market return then the asset return equals the risk free rate. In the Sharpe-Lintner model the relationship between the asset return and the beta is represented by the following equation: However, this assumption of riskless borrowing and lending is unrealistic. Black (1972) developed a CAPM model where he did not make this extreme assumption. He showed that the mean variance efficient portfolio can be obtained by allowing the short selling of the risky assets. The Black and Sharpe-Lintner model differ in terms of the . Black observed that has to be less than the expected market return which allows the premium for the market beta to be positive. In the Sharpe-Lintner model the expect return was the risk free interest rate. The assumption that Black made about short selling is not realistic either. Because, if there is no risky asset (Sharpe-Lintner version) and if there is unrestricted short selling of the risky asset (Black version) then the efficient portfolio is actually not efficient and there does not exist any relation between market beta and CAPM (Fama and French: 2003). So, the CAPM models are built on some extreme assumptions. To testify the validity of these models researchers have tested the model against the market data. In this paper we will investigate some of those empirical researches. 4. Literature on CAPM testing There are three relationships between expected return and market beta which is implied by the model. First, the expected returns on all the underlying assets are linearly related to their respective betas. Second, the premium for beta is positive which implies that the expected return on the market portfolio exceeds the expected return on assets. Moreover, the returns of these assets are uncorrelated with the expected return of market portfolio. Third, in the Sharpe-Lintner model we see that the underlying assets which are uncorrelated with the market portfolio have the expected returns which are equal to the risk neutral interest rate. In that model, if we subtract the risk free rate from the expected market return, we get the beta premium. Conventionally the tests of CAPM are based on those three implications mentioned above. 4.1 Tests on Risk Premiums Most of the previous cross-section regression tests primarily focus on the Sharpe-Lintner model’s findings about the concept and the slope term which studies the relationship between expected return and the market beta. In that model they regressed the mean asset returns on the estimated asset betas. The model suggests that the constant term in the cross-section regression stands for the risk free interest rate and the slope term stands for the difference between market interest rate and risk free interest rate. There are some demerits of the study. First of all, the estimated betas for individual assets are imprecise which creates the measurement error when we use them to explain average returns. Secondly, the error term in the regression has some common sources of variation which produces positive correlation among the residuals. Thus the regression has the downward bias in the usual OLS estimate. Blume (1970) and Black, Scholes and Jensen (1972) worked on overcoming the shortcomings of Sharpe-Lintner model. Instead of working on the individual securities they worked on the portfolios. They combined the expected returns and market beta in a same way that if the CAPM can explain the security return, it can also explain portfolio return. As the econometric theory suggests, the estimated beta for diversified portfolios are more accurate than the estimated beta for the individual security. Therefore, if we use the market portfolio in the regression of average return on betas, it lessens the cr itical problem. However, grouping shrinks the range of estimated betas and shrinks the statistical power as well. To tackle this researchers sort securities to create two portfolios. The first one contains securities with the lowest beta and it moves up to the highest beta. We know that when there exists a correlation among the residuals of the regression model, we cannot draw accurate inference from that. Fama and Macbeth (1973) suggested a method to address this inference problem. They ran the regression of returns on beta based on the monthly data rather than estimating a single cross-section regression of the average returns on beta. In this approach the standard error of the means and the time series means can be used to check whether the average premium for beta is positive and whether the return on the asset is equal to the average risk free interest rate. Jensen (1968) noted that Sharpe-Lintner model also implies a time series regression test. According to Sharpe-Lintner model, the average realized CAPM risk premium explains the average value of an asset’s excess return. The intercept term in the regression entails that â€Å"Jensen’s alpha†. The time series regression takes the following form: In early studies we reject Sharpe-Lintner model for CAPM. Although there exists a positive relation between average return and beta, it’s too flat. In Sharpe-Lintner model the intercept stands for the risk free rate and the slope term indicates the expected market return in access of the risk neutral rate. In that regression model the intercept is greater than the risk neutral rate and the coefficient on beta is less than . In Jensen’s study the p value for the thirty years period is 0.02 only which indicates that the null hypothesis is rejected at 5% significance level. The five and ten year sub-period demonstrates the strongest evidence against the restrictions imposed by the model. In past several studies it has been confirmed that the relationship in between average return and beta is too flat (Blume: 1970 and Stambaugh: 1982). With the low betas the constant term in the time series regression of excess asset return on excess market return are positive and it becomes negative for the high betas of the underlying assets. In the Sharpe-Linter model, it has been predicted that portfolios are plotted along a straight line where the intercept equals the risk free rate, , and the slope equals to the expected excess return on the market rate . Fama and French (2004) observed that risk premium for beta (per unit) is lower than the Sharpe-Lintner model and the relationship between asset return and beta is linear. The Black version of CAPM also observes the same where it predicts only the beta premium is positive. 4.2 Testing the ability of market betas of explaining expected returns Both the Sharpe-Lintner and Black model predict that market portfolio is mean-variance efficient. The mean-variance efficiency implies that the difference in market beta explains the difference in expected return of the securities and portfolios. This prediction plays a very important role in testing the validity of the CAPM. In the study by Fama and Macbeth (1973), we can add pre-determined explanatory variables to the month wise cross section regressions of asset return on the market beta. Provided that all the differences in expected return are explained by the betas, the coefficients of any additional variable should not be dependably different from zero. So, in the cross-section analysis the important thing is to carefully choose the additional variable. In this regard we can take the example of the study by Fama and MacBeth (1973). In that work the additional variables are squared betas. These variables have no impact in explaining the average asset return. By using the time series regression we can also test the hypothesis that market betas completely explain expected asset return. As we have already mentioned that in the time series regression analysis, the constant term is the difference between the asset’s average return and the excess return predicted by the Sharpe-Lintner model. We cannot group assets in portfolios where the constant term is dependably different from zero and this applies only the model holds true. For example, for a portfolio, the constant term for a high earning to price ratio and low earning to price ratio should be zero. Therefore, in order to test the hypothesis that betas suffice to explain expected returns, we can estimate the time-series regression for the portfolios and then test the joint hypothesis for the intercepts against zero. In this kind of approach we have to choose the form of the portfolio in a way which will depict any limitation of the CAPM prediction. In past literatures, researchers tend to follow different kinds of tests to see whether the constant term in the time-series regression is zero. However, it is very debatable to conclude about the best small sample properties of the test. Gibbons, Shanken and Ross (1989) came up with an F-test for the constant term that has the exact-small sample properties and which is asymptotically efficient as well. For the tangency portfolio, this F-test builds an entrant by combining the market proxy and the average value of an asset’s excess return. Then we can test if the efficient set and the risk free asset is superior to that one obtained by combining the market proxy and risk free asset alone. From the study of Gibbons, Ross, and Shanken (1989) we can also test whether market betas are sufficient enough to explain the expected returns. The statistical test what is conventionally done is if the explanatory variables can identify the returns which are not explained by the market betas. We can use the market proxy and the left hand side of the regression we can construct a test to see if the market proxy lies on the minimum variance frontier. All these early tests really do not test the CAPM. These tests actually tested if market proxy is efficient which can be constructed from it and the left hand side of the time series regression used in the statistical test. Its noteworthy here that the left hand side of the time series regression does not include all marketable assets and it is really very difficult to get the market portfolio data (Roll, 1977). So, many researchers concluded that the prospect of testing the validity of CAPM is not very encouraging. From the early literatures, we can conclude that the market betas are sufficient enough to explain expected returns which we see from the Black version of CAPM. That model also predicts that the respective risk premium for beta is positive also holds true. But at the same time the prediction made by Sharpe and Lintner that the risk premium beta is derived from subtracting the risk free interest rate from the expected return is rejected. The attractive part of the black model is, it is easily tractable and very appealing for empirical testing. 4.3 Recent Tests on CAPM Recent investigations started in the late 1970s have also challenged the success of the Black version of the CAPM. In recent empirical literatures we see that there are other sources are variation in expected returns which do not have any significant impact on the market betas. In this regard Basu’s (1977) work is very significant. He shows that if we sort the stocks according to earning-price ratios, then the future returns on high earning-price ratios are significantly higher than the return in CAPM. Instead of sorting the stocks by E/P, if we sort it by market capitalization then the mean returns on small stocks are higher than the one in CAPM (Banz, 1981) and if we do the same by book-to-market equity ratios then the set of stocks with higher ratio gives higher average return (Statman and Rosenberg, 1980). The ratios have been used in the above mentioned literatures associate the stock prices which involves the information about expected returns which are not captured by the market betas. The price of the stock does not solely depend on the cash flows, rather it depends on the present discounted value of the cash flow. So, the different kind of ratios discussed above play a crucial role in analyzing the CAPM. In line with this Fama and French (1992) empirically analyzed the failure of the CAPM and concluded that the above mentioned ratios have impact on stock return which is provided by the betas. In a time series regression analysis they concluded the same thing. They also observed that the relationship between the average return and the beta is even flatter after the sample periods on which early CAPM studies were done. Chan, Hamao, and Lakonishok (1991) observed a strong significant relationship between book-to-market equity and asset return for Japanese data which is consistent wit h the findings of Fama and French (1992) implies that the contradictions of the CAPM associated with price ratios are not sample specific. 5. Efficient Set of Mathematics The mathematics of mean-variance efficient set is known as the efficient set of mathematics. To test the validity of the CAPM, one of the most important parts is to test the mean-variance efficiency of the model. Thus, it is very important to understand the underlying mathematics of the model. Here, we will discuss some of the useful results of it (Roll, 1977). Here we assume that there are N risky assets with a mean vector ÃŽ ¼ and a covariance matrix ÃŽ ©. In addition we also assume that the covariance matrix is of full rank. is vector of the portfolio weight. This portfolio has the average return; and variance. Portfolio p is the minimum variance portfolio with the mean return if its portfolio weight vector is the solution to the following constrained optimization: We solve this minimization problem by setting the Lagrangian function. Let’s define the following: The efficient frontier can be generated from any two minimum variance portfolios. Let us assume that p and r be any two minimum variance portfolio. The covariance of these two portfolios is as follows: For a global minimum-variance portfolio g we have the following: The covariance of the asset return of the global minimum portfolio g and any other portfolio as defined as a is as follows: For a multiple regression of the return of an asset or portfolio on any minimum variance portfolio except the global minimum variance portfolio and underlying zero-beta portfolio we have the following: The above mentioned result deserves some more attention. Here we will prove the result. As . The result is obvious. So, we just need to show that and . Let us assume that r be the minimum variance portfolio with expected return . From the minimization problem we can write the following: Portfolio a can be expressed as a combination of portfolio r and an arbitrage portfolio which is composed of portfolio a minus portfolio . The return of is expressed as: Since , the expected return of is zero. Because, as mentioned earlier that it is an arbitrage portfolio with an expected return of zero, for a minimum variance portfolio q. We have the following minimization problem: The solution to the optimization problem is c=0. Any other solution will contradict q from being the minimum variance. Since, , thus taking the derivative gives the following expression: Setting the derivative equal to zero and by substituting in the solution c=0 gives: Thus the return of is uncorrelated with the return of all other minimum variance portfolio. Another important assumption of the CAPM is if the market portfolio is the tangency portfolio then the intercept of the excess return market model is zero. Here we will prove the result. Let us consider the following model with the IID assumptions of the error term: Now by taking the unconditional expectation we get, As we have showed above, the weight vector of the market portfolio is, Using this weight vector, we can calculate the covariance matrix of asset and portfolio returns, the expected excess return and the variance of the market return, Combining these results provide, Now, by combining the expression for beta and the expression for the expected excess return give, Therefore, the immediate result is 6. Single-factor CAP In practice, to check the validity of the CAPM we test the SML. Although CAPM is a single period ex-ante model, we rely on the realised returns. The reason being the ex ante returns are unobservable. So, the question which becomes so obvious to ask is: does the past security return conform to the theoretical CAPM? We need to estimate the security characteristic line (SCL) in order to investigate the beta. Here the SCL considers the excess return on a specific security j to the excess return on some efficient market index at time t. The SCL can be written as follows: Here is the constant term which represents the asset return (constant) and is an estimated value of . We use this estimated value as an explanatory variable in the following cross-sectional regression: Conventionally this regression is used to test for a positive risk return trade off. The coefficient of is significantly different from zero and is assumed to be positive in order to hold the CAPM to be true. This also represents the market price of risk. When we test the validity of CAPM we test if is true estimate of . We also test whether the model specification of CAPM is correct. The CAPM is single period model and they do not have any time dimension into the model. So, it is important to assume that the returns are IID and jointly multivariate normal. The CAPM is very useful in predicting stock return. We also assume that investors can borrow and lend at a risk free rate. In the Black version of CAPM we assume that zero-beta portfolio is unobservable and thus becomes an unknown parameter. In the Black model the unconstrained model is the real-return market model. Here we also have the IID assumptions and the joint normality return. Many early studies (e.g. Lintner, 1965; Douglas, 1969) on CAPM focused on individual security returns. The empirical results are off-putting. Miler and Scholes (1972) found some statistical setback faced when using individual securities in analyzing the validity of the CAPM. Although, some of the studies have overcome the problems by using portfolio returns. In the study by Black,Jensen and Scholes (1972) on New York stock exchange data, portfolios had been formed and reported a linear relationship between the beta and average excess portfolio return. The intercept approaches to be negative (Positive) for the beta greater than one (less than one). Thus a zero beta version was developed of the CAPM model. The model was developed in a model where the intercept term is allowed to take different values in different period. Fama and Mcbeth (1973) extended the work of Black et al (1972). They showed the evidence of a larger intercept than the risk neutral rate. They also found that a linea r relationship exists between the average returns and the beta. It has also been observed that this linear relation becomes stronger when we work with a dataset for a long period. However, other subsequent studies provide weak empirical evidence of this zero beta version. We have mixed findings about the asset return and beta relationship based on the past empirical research. If the portfolio used as a market proxy is inefficient then the single factor CAPM is rejected. This is also true if the proxy portfolio is inefficient by a little margin (Roll: 1977, Ross: 1977). Moreover, there exists survivorship bias in the data used in testing the validity of CAPM (Sloan, 1995). Bos and Newbold (1984) observed that beta is not stable for a period of time. Moreover, there are issues with the model specifications too. Amihud, Christen and Mendelson (1993) observed that there are errors in variables and these errors have impact on the conclusion of the empirical research. We experience less favourable evidence for CAPM in the late 1970s in the so called anomalies literature. We can think the anomalies as the farm characteristics which can be used to group assets in order to have a high ex post Sharpe ratio relative to the ratio of the market proxy for the tangency portfolio. These characteristics provide explanatory power for the cross-section of the average mean returns beyond the beta of the CAPM which is a contradiction to the prediction of CAPM. We have already mentioned that the early anomalies include the size effect and P/E ratio as we have already mentioned. Basu (1977) observed that the portfolio formed on the basis of P/E ratio is more efficient than the portfolio formed according to the mean-variance efficiency. With a lower P/E firms have higher sample average return and with high P/E ratio have lower mean return than would be the case if the market portfolio is mean-variance efficient. On the other hand the size effect shows that low market capitalization firms have higher sample return than would be expected if the market portfolio was mean-variance efficient. Fama and French (1992,1993) observed that beta cannot explain the difference between the portfolio formed based on ratio of book value of equity to the market value of equity. Firm has higher average return for higher book market ratio than originally predicted by the CAPM. However, these results signal economically deviations from CAPM. In these anomalies literatures, there are hardly any motivations to study the farm characteristics. Thus there is a possibility of overstating the evidence against the CAPM since there are sample selection bias problem in estimating the model and also there is a problem of data snooping bias. This a kind of bias refers to the biases in drawing the statistical inference that arises from data to conduct subsequent research with the same or related kind of data. Sample selection bias is rooted if we exclude certain sample of stocks from our analysis. Sloan (1995) argued that data requirements for the study of book market ratios lead to failing stocks be ing excluded which results the survivorship bias. Despite an ample amount of evidences against CAPM, it is still being widely used in finance. There is also the controversy exists about how we should interpret the evidence against the CAPM. Some researchers often argue that CAPM should be replaced with multifactor model with different sources of risks. In the following section we will analyze the multifactor model. 7. Multifactor Models So far we have not talked anything about the cross sectional variation. In many studies we have found that market data alone cannot explain the cross sectional variation in average security returns. In the analysis of CAPM, some variables like, ratio of book-to-market value, price-earning ratio, macroeconomic variables, etc are treated as the fundamental variables. The presence of these variables account for the cross-sectional variation in expected returns. Theoretical arguments also signal that more than one factor are required. Fama and French (1995), in their study showed that the difference between the return of small stock and big stock portfolio (SMB) and the difference between high and low book-to-market stock portfolio (HML) become useful factor in cross sectional analysis of the equity returns. Chung, Johnson and Schill (2001) found that the SMB and HML become statistically insignificant if higher order co-moments are included in the cross sectional portfolio return analysis. We can infer from here that the SMB and HML can be considered as good proxies for the higher order co-moments. Ferson and Harvey (1999) made a point that many econometric model specifications are rejected because they have the tendency of ignoring conditioning information. Now we will show one of the very important results of the multifactor model. Let us consider a regression of portfolio on the returns of any set of portfolios from which the entire minimum variance boundary can be generated. We will show that the intercept of this regression will be zero and that factor regression coefficients for any asset will sum to unity. Let the number of the portfolios in the set be K and is the (Kx1) vector of time period t of asset returns. For any value of the constant ÃŽ ¼, there exists a combination of portfolio and assets. Let us consider ÃŽ ¼ be the global minimum variance portfolio and we denote the portfolio as op. Corresponding to op is minimum variance portfolio p which is uncorrelated with the return of op. As long as p and op are efficient portfolios in terms of the minimum variance their returns are the linear combinations of the elements of , where and are (Kx1) vectors of portfolio weights. As p and op are minimum variance portfolio their returns are linear combinations of the elements of , Then for the K portfolios we have, By rearranging, we get the following, Substituting this value into ÃŽ ¼ returns the following: Now let us consider a multivariate regression of N assets on K factor portfolios, where a

Essay --

To be born a female or a male in any society is more than an unpretentious biological fact since it is not without social implications. Women establish a discrete social group, as gender dominates it by means of culture redevelops to what instigates as a fact of nature. The idea that natural differences between the sexes are the basis/spring of all that fashions women and man to be distinct has also been profoundly driven in in various scientific debates. The absolute inconsistency of the roles and relations of women and men across diverse societies and social groups depicts/portrays itself as one of the primary evidence against this unsophisticated biologically determinist interpretation. If there is no steadiness between how different societies believe/presume men to be men and women to be women-- this longstanding saying has been confronted with ever accumulating frequency as social researchers emphasis on the nature of the social construction of gender, then what can be announced is that there must be something other than natural differences that lie beneath their character along...

Evaluating Change and Management of Organizational Change at A&B Smart

Introduction In today’s fast growing global business environment, change is needed to keep up with competition, for innovation of products and services, for meeting global needs in business. The Group choose A&B smart industries to discuss and evaluate change and issues and most importantly management of organizational change. Research Objective: -To identify the issue of organizational change -How OCM strategy will facilitate the company -Appropriate recommendation on how management could improve their response to the opportunities and threats associated with organizational change. Company Background: A&B smart industries established in 1998, it is the only screw rivet producer in Bangladesh. It is a manufacturing company making fasteners screws nails rivets clams etc Overview: Fasteners are screws, bolts rivets, nuts, washers, and pins etc. These are needed to assemble doors vehicle, machine, equipments even toys. From the most complicated space missile to simple children’s toys. Fasteners are usually needed in large quantities. Because fasteners are highly standardized and are used in such incredible numbers, the markets for these are getting highly industrialized. Fastening industries are flourishing very fast in Bangladesh, one of the flourishing fastening industries is A&B Smart industry, and it is trying to keep up with competitors. Their biggest competitors are Chinese companies which used to export fasteners to Bangladesh. At this competitive environment A&B smart industries seeking a organizational change to innovate and reinvent the system. Organizational Change What is organization change? Organization change is when businesses makes needed cha... ...anagement. 1 Edition. Kogan Page. Ian Palmer, 2008. Managing Organizational Change: A Multiple Perspectives Approach. 2 Edition. McGraw-Hill/Irwin. Esther Cameron, 2004. Making Sense of Change Management: A Complete Guide to the Models, Tools and Techniques of Organizational Change Management. Edition. Kogan Page Business Books. Joe Tidd, 2005. Managing Innovation: Integrating Technological, Market and Organizational Change. 3 Edition. Wiley. Michael Beitler, 2006. Strategic Organizational Change, Second Edition. 2 Edition. Practitioner Press International. John P. Kotter, 1986. The General Managers. 1 Edition. Free Press. Types of Organizational Change . 2014. Types of Organizational Change . [ONLINE] Available at: http://www.cliffsnotes.com/more-subjects/principles-of-management/managing-change/types-of-organizational-change. [Accessed 19 April 2014].

Strategy Guide to Arc The Lad :: Arc the Lad Video Games Entertainment Essays

Strategy Guide to Arc The Lad Characters and Spells: Arc Burn Ground (volcanic eruption on enemies) Total Healing (replenishes HPs) Gail Flash (mystic forces flashes on enemies) Slow Enemy (decreases dexterity of enemies) Meteor Fall (huge meteor clashes on enemies) Kukuru Cure (replenishes HPs) Depoison (cures poison status) Silent (disables enemy's magic use) Refresh (cures status) Ten No Sabaki (hail of explosions) Resurrection (revives dead party members) Divide (steals HPs from enemies) Poco Ikusa No Kodaiko (raises attack levels on party members) Arajishi Daiko (laser attack on enemies) Hero Hero Rappa (huge stone notes drop on enemies) Ieyashi No Tategoto (replenishes party member's HP) Noroma No Bass (decreases enemy's dexterity) Idaten No Okarina (raises party member's dexterity) Tosh Oukarai Bakuzan (three deadly slashes to enemy) Juubakuken (paralyzes enemy) Shinkuuzan (Illusion attack for enemy at two squares away from Tosh) Koenzan (Shadow attack to inflict deadly) Gogen Explosion (massive explosion against enemies) Dream Knock (casts "sleep" on enemies) Diamond Dust (hails of ice thrashes on enemies) Wind Slasher (cyclones thrash against enemies) Heat Wall (creates a fire barrier against enemies; see Hints) Thunder Storm (summons lightning bolts) Teleport (teleports) Iga Shingan Hoo (casts "rock" on enemies"; see Hints) Taimakoodan (releases lasers against enemies) Senbuugekishuu (releases a flaming kick to hit all enemies around him) Ryuusenbaku (summons winds to lift enemies and thrashes them on ground) Kishin Ryuueiha (throws ground lightning bolt) Metsushuu Reppa (energy wave attack) Chongara Keraku (three elves who heal members) Monfree (creates tiles for passage) Fuugin (wind demon; see Hints) Raigin (thunder demon; see Hints) Hemogee (transforms enemies into trolls) Odon (morphs into enemy) Hints: Iga's Rock Spell Once the "Shingan Hoo" spell (rock spell) is cast on enemies, the "Taimakoodan" spell (laser spell) is enabled/accessible. The laser will attack all the enemies under the rock spell. Note that the Taimakoodan spell is not usable independently. Chongara's Monsters and the 1100+ HP Damage Attack Chongara's abilities are unique. He summons enemies of all genera at his will. Though his monsters may not seem as useful at first, his two monsters "Raigin" and "Fuugin" can be quite a deadly combination when used accordingly. Though it takes some time to summon both Raigin and Fuugin, once they are out, place them around an enemy, preferably a strong one. But note that they must be in a VERITCAL FORMATION (example: Raigin over an enemy, Fuugin underneath the same enemy), in order for the attack to work: Once they are in a vertical formation, a spell will now be accessible, which can inflict more than 1100 HP damage! Death is inevitable. Chongara's Secret Character Chongara also has a secret character that he can summon at only certain times.

Health Care Utilization Paper Essay

Instructor: As I was interview one of the people where I work, she was so naà ¯ve and told me everything that I need to know. She explains to me how the health care system operates back in the days, now and the future, my main concern the cost of insurance for staff and patients. Her name was Vilma Gaciar; she is a general manager where I work, and she has a bachelor in nursing. However, she manages the whole Broward County department, and her primary responsibility is to make sure all team managers are doing an adequate job by helping the patient and family members reach their goals. She works closely with medical staff to plan, direct, and coordinate the delivery of healthcare. Career is a destination. However from the beginning, my goal was to reach some level of ability to accommodate with the field of work that I choose. My goal is to experience work from a range of viewpoint in my field. My journey can be different from others, like work for different companies or big organizations. Moreover, I can say that my journeys still not end yet I still have to walk my way through the top to become a general manager. How I manage my career path wills defined by the decisions and actions that I take on my daily basis. Each and every decision and every action that I make will definitely open a big door for opportunities to advance my career prospects. As I`m working my way up I will have to stay focused and on track. I will take any opportunities and advantage that may come my way. Although, one more thing to always realize, learn from your mistake in order to make the  most of second chance opportunities. Moreover, I still have to finish school and graduate with a bachelor. i will have to climb the ladder with good work performance, able to make good judgment, good decision, empowerment scale high quality, quantity, and productivity is my  goal. My main primary objectives are to have a clear understanding to where I’m today and where I want to be tomorrow will help me make rise decision in my life. The more I learn about my past, the more I will predict more about my present and the better I prepare the more advantage and opportunity that will arise in my future. Furthermore, been a general manager is a difficult job you have to focus on managing difficulties and change. The better you are, the quicker you will be able to adapt to changing and circumstances when they arise and always keep in mind those difficulties and changes bring opportunities for growth and progress. Over the years I have learned new things, gained more knowledge, study new courses and acquired new skills. All of these experiences makeup my list of resources and provide me with a solid foundation for my future career. Although, by giving my career plans, I will need to add additional resources that will help me take advantage of opportunities to climb the career ladder. As a future general manager I will need to identify my assets, my assets are my strengths that I have at my side that can use now and in the future to help me reach that goal. My objective is to take my time to make a list of all things that valuable and trait that I feel that can help me make tremendous progress to move up through the career ladder. For that reason, I need I’m willing to make necessary sacrifices to sustain. Then I will need to go back to reassess my career goals and objectives to achieve that goal. Management and leadership are important for the delivery of good health services. Good managers should try hard to be a good leader and need good management skills. Although, a good leader always consider assess plan, manage the care process for each, interact with the community, and manage all information that covered in the Plan. However, leadership in general has considerations for managing relations with the patients, the region team, as well as the finances team. A big part of the management’s task is to review the important information, service delivery data concern, and use this data  to make decisions about how services can be improve and modified. Managers are more likely responsible for the finances available to the service, and ensure that they use the produce to the benefit of the patients and staff. Keep a hard hub on the overall goal of the service and remind staff, partners and clients of this goal are a major task for managers. Management involves developing staff /skills mentoring persons with high potential, resolve conflicts while it maintains discipline and ethics. However, health care industry is growing faster and faster. The big parts of health care employment are; government hospital, private hospital, nursing/personal care, home health care ect.. However, 21 percent growth in the number of health information management workers between 2010 and 2020, making it one of the nation’s fastest-growing health occupations. By the 1960,’s hospital and clinics began to emerge in the more rural areas, and the citizen had the ability to go to the doctor. Although, there were few large industries in rural areas insurance was not readily available or affordable. Healthcare costs were extremely high and the rural citizen, which mostly consisted of lower income families, depended on homeopathic remedies and only went to the doctor when they had serious illnesses or injuries. The country doctor continued to exist in the rural area until well into the 1960’s and many people in the rural communities favored the family doctor over the new clinics and hospitals that were emerging. Although there is a link between healthcare costs and age, those costs raise more in the over-65s mainly because more people die in this age bracket. While healthcare costs continue to get more expensive, insurance was readily available during the 1970’s through an employer. Once obtaining a good job with a hospital full healthcare benefits were available that included a spouse and children (S. A. Sweeney, Personal Interview, and March 14, 2012). The unemployed and self-employed still had no real access to healthcare, and the number of uninsured Americans continued to rise. In the 1970’s, the government became more focused on developing measures to protect patients and to ensure they better access to health care, but the result was the HMO Act. The older generations no longer had access to healthcare once they retired from their jobs, and the lower income or rural citizen had minimal access to health insurance making healthcare costs outrageous. By the time,  my Mother was a teenager access to healthcare once again changed for the citizen. Medicaid and Medicare were developed to meet the needs of the retired and the lower income families, and the government would pay the doctors a reasonable rate for their services. Health care  facility and hospital, successfully introduce to new technology, well organization skills. We need to develop a new way of looking at how we currently function in any work place we work. Management and workers will have to come together to build, to produce a better work environments; by understanding the long-term issues affecting their future, by creating a new way of thinking about how these current enabling technologies can best be used. References: Bunyavavich S: US Public health leaders shift toward a new paradigm of global health. American Journal of Public Health 2001, 91:1556-1571. PubMed Abstract | Publisher Full Text | PubMed Central Full Text OpenURL Kaiser, H. (2009). National health Insurance: A Brief History of Reform Efforts in the U.S. Retrieved March 16, 2012 from http://www.kff.org/healthreform/upload/7871.pdf McCanna, D. (2010). A Brief History: Universal Health Care Efforts in the United States. Retrieved March 16, 2012 from http://www.pnhp.org/facts/a_brief_history_universal_health_care_efforts_in_the_us.php