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Hydraulic Fracturing The Future of America’s Energy Essay

Hydraulic Fracturing, also known as fracking, is not a novel concept. The hope of being able to access fossil fuels trapped inside layers of shale deep beneath the Earth’s surface was achieved by the process of fracking, developed in 1903 (energyindepth.com). Over the last century, hydraulic fracturing has become an efficient and environmentally friendly way to access the natural gas needed to meet the United States’ high demands. With the condition of the environment rapidly deteriorating, the process of hydraulic fracturing is being questioned. Fracking has made the natural gas trapped within the shale deposits below the earth’s surface accessible with new techniques, all while generating jobs, stimulation the economy, and safely†¦show more content†¦In addition to being an environmentally friendly method of natural gas extraction, fracking also created new jobs and generates substantial revenue that is crucial to the growth of the United Statesâ⠂¬â„¢ economy. Today Americans are suffering from an unemployment rate which has risen to an astounding 9.1% rate. The Marcellus Company created over 29,000 jobs in 2008; and the Barnette Company created over 327,000 jobs in Texas alone (Kaufman and Sidick). The natural gas harvested from fracking are also translates into extreme profits. Barnette Shale’s drilling companies generated over $32.56 billion in revenue and the Marcellus Shale’s drilling companies already generated $2.3 billion in revenue from the small fraction of the shale they have drilled so far (Kaufman and Sidick). Hydraulic fracturing provides economic benefits that are necessary for America’s struggling economy in an environmentally friendly way. Despite popular belief, fracking is not devastating to the environment; in fact, it is a safe way to access a greener source of natural gas. By utilizing horizontal drilling, multiple wells can originate from 200-600+ acres of shale, making the process more efficient and less threatening to the surrounding environment (Kaufman and Sidick). Many safety precautions, such as encasing the wells with steel and cement, are used to ensure that the surrounding freshShow MoreRelatedLaws 310 Course Project1187 Words   |  5 PagesLAWS 310 – THE LEGAL ENVIRONMENT Hydraulic Fracturing 10/12/2013 â€Æ' TABLE OF CONTENTS What is Hydraulic Fracturing 2 Enivromental Issues 2 Water Contamination 2 Management of Waste Water 3 Air Quality Issues 3 Fracking Chemicals 3 State and Federal Laws 4 Federal Regulations 4 State Regulations 4 U.S. Energy Needs 5 Conclusion 5 Referrence Page 6 â€Æ' Hydraulic Fracturing What is hydraulic fracturing or fracking, and is it safe for our environment? What types of environmentalRead MoreTheu.s. Bush Announced Operation Desert Shield1242 Words   |  5 Pagestechnologies, such as horizontal drilling and hydraulic fracturing, have significantly increased America’s fuel production capability. However, despite our move towards energy independence, these technologies are not without controversy. For example, in his article Hydraulic Fracturing: Critical for Energy Production, Jobs, and Economic Growth, Nicholas Loris (2012) highlights the concerns of several environmental groups who believe that hydraulic fracturing causes earthquakes and chemical contaminationRead MoreThe Energy Information Administration ( 2016 )1250 Words   |  5 Pagesproduction averaged 5 million barrels a day. This drastic increase in production can be attributable, in part, to advances in hydraulic fracturing. According to the Energy Information Administration (2016) this co ntroversial drilling technology has been in use for over 6 decades, but has otherwise contributed relatively little to total crude oil output. In 2000 23,000 hydraulic fractured wells produced 102,000 barrels of oil a day, or 2% of the total national output. In 2015 there were 300,000 hydraulicallyRead MoreU.s. Federal And State Governments1247 Words   |  5 Pagesof their strategic goal of becoming energy independent. Incidentally, recent advances in hydraulic fracturing - a process used to extract oil or gas from underground formations - has contributed significantly to achieving that end. According to Terry Engelder (2011), of the Department of Geosciences at Pennsylvania State University, â€Å"There is enough domestic gas to meet our needs for the foreseeable future thanks to technological advances in hydraulic fracturing† (Howarth, Ingraffia, Engelder, pRead MoreRenewable Energy Sources For Energy1540 Words   |  7 Pagesdemand for energy, and the lack of non-renewable energy resources to meet the demand in the future. In addition, the question of â€Å"sustainability†;the ability to balance social, economic, and environmental needs in energy production to meet both current and long-term requirements;has come to the forefront. It is clear that America must expand energy production quickly, and that we must develop renewable, sustainable energy sources to meet long-term demand and protect our future. 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Introduced in the 1940’s, hydraulic fracturing has discovered a considerable amount of oil and clean-burning natural gas from underneath the earth’s surface. Fracking contributes in providing well-needed resources from the earth’s surface to increase our country’s energy securityRead MoreThe Effects Of Hydraulic Fracturing On The United States1518 Words   |  7 Pagesexperts that the current energy sources we use in the United States today are in need of a change. How we rely on the fossil fuels of coal and oil is a concern for two main issues: which is the negative impact on the environment and how the U.S. relies on other countries for supplies. This too has created issues on the political standpoint of the situation. This is where hydraulic fracturing comes in to play. Hydraulic Fracturing is a horizontal drilling process by the energy industry that has presentedRead MoreHydraulic Fracturing Has Recently Grown In Popularity As1516 Words   |  7 PagesHydraulic fracturing has recently grown in popularity as a means of energy production. There are advantages and disadvantages, mainly relating to the environment and the economy, of this industry. Although there are pros and cons to both sides of the issue, a compromise needs to be found for both the safety of the environment and to be able to support affordable energy production. Hydraulic fracturing, as an industry, has had a large economic impact by creating jobs. Using natural gas from hydraulicRead MoreFracking : Too Many Fracking Problems1631 Words   |  7 Pagesout of fossil fuels. But it may end because burning these wonderful fuels puts the planet farther down a path we don t want to head down†. Fracking, or hydraulic fracturing, is a petroleum mining method to reach remote gas under water that is located in the crust of the earth. Fracking uses a blend of water, sand, and chemicals. Hydraulic Fracturing, â€Å"has contributed to a resurgence of oil production in the USA and a dramatic increase in natural gas production† (Hassett). It is speculated to grow

Corporate Governance of Wesfarmers Ltd - Free Solution

Question: Describe about the Corporate Governance of Wesfarmers Ltd. Answer: Introduction Corporate governance refers to the ways through which a corporation is governed. Therefore, it can be stated that this is a technique with the help of which, the companies are directed as well as managed and this depicts the fact of carrying the entire business as per the desire of the stakeholders. Besides, it can be seen that Harford et al. (2012) has stated corporate governance as the interaction between several participants in order to shape the corporate performance and the way of proceeding towards final. Therefore, it can be stated that corporate governance deals with determining the ways to take effective strategic decisions of the organization. This particular research work has tried to shed focus on reviewing the governance of the organization named Wesfarmers, Australia. Moreover, appropriate use of concepts, tools and techniques would be taken into account fir reviewing the structure, process as well as effectiveness of the governance of the organization. Background of the organization Wesfarmers is one of the leading and leading scheduled corporations in Australia with headquarters in Western Australia. The company has its miscellaneous functions in supermarkets, liquor, hotels as well as the conveniences stores, home improvement, office supplies, departmental stores and many more. From the company profile, it can be stated that Wesfarmers is one of the Australias principal private segment employers with more than 210,000 workers and has a shareholder base of something like 500,000 (Acharya et al. 2012). However, it can be stated that the major purpose of this corporation is to make available a reasonable return to its shareholders. However, it can be seen that the aim of this corporation is to keep happy the requirements of the consumers through the stipulation of the services and goods on an aggressive as well as specialized basis. Apart from that, they targets to provide a protected and gratifying operational atmosphere for the human resources by rewarding them with high-quality performance and arranging opportunities for the advancements. The management of the company acts with truthfulness and integrity in dealing both inside and outside the corporation. The founders of Wesfarmers were largely driven by the motto of sustainable success and in this regards, they largely focus on good corporate governance. Therefore, from the annual report, it can be seen that the Wesfarmers Limited Board is unswerving for providing an acceptable gain to their shareholders as well as pleasing its corporate governance compulsions, roles and responsibilities in the best interests of the organization and its (stakeholders sustainability.wesfarmers.com.au 2016). Reviewing the governance of the organization One of the organization principle says that the organization maintain robust corporate governance policies throughout their entire business. The corporate governance of Wesfarmers is a system consisting of rules, legislations, practices and procedures through which the organization is being controlled and directed (Akbar and Ahsan 2014). The organizational perception depicts that the value creation for shareholders and other stakeholders is vital for the success and sustainability of the company. The corporate framework of the company has been developed by the Wesfarmers Board and was strengthened by the corporate governance statement of the company. The board of the company Wesfarmers is a strong supporter of good corporate governance. The governance board of Wesfarmers is committed to deliver a pleasing return of its stakeholders investment and it also commits to fulfill its corporate governance obligations and responsibilities in association with organizations best interest and its stakeholders. The company complies with the second edition of ASX corporate governance councils corporate governance principles and recommendations released in August 2007 with 2010 amendments (Darko et al. 2016). Role of management and Board The function of board is endorsing the strategic direction provided by the team. In addition, board is also responsible for guiding and monitoring the management group in the companyand their business for gaining the strategic arrangements and maintains a well-established governance performance throughout organizational practices. The aim of organizational board is to shield and improve the interest of their shareholders, in accordance to the interest of all the stakeholders of the company including suppliers, employees, customers and others (Australia 2012). In this context, it has been revealed that the board has committed for providing highest standard practices related to corporate governance and promotes the healthy background throughout their business involving a culture of compliance valuing the personal and corporate integrity into the organizational operation, ethical behavior, accountability and respect for others during the operations. The managing director of the company is responsible for the management of day-to-day operations of the company Wesfarmers and its business processes. The managing director of the company is endorsed in this function by Wesfarmers Leadership team (Vidovich and Currie 2012). Composition and Structure of governance board The Company has been dedicated to ensure that the governance Board will continuously involve the directors who would be able to bring adequate mix of skills, expertise, experience and diversity to the decision-making by board. Currently, the Board comprises 11 directors involving 9 on-executive directors. The governance board has developed a Audit and committee, Remuneration committee, Nomination committee and a GM review Risk Committee for discharging its responsibilities. The committee is also accountable for characterizing the appropriate applicant for filling the Board position, as the part of the Board succession planning in Nomination committees oversight. The Nomination committees responsibility is to make the schedule of the review of formal performance of the Board, the non-executive director and its committee (Klettner et al. 2014). Director independence According to the commitment of Wes farmers board, the directors would judge the deliberations from Board independently and they would be free of any other business or relationship, as well as they would have the best interest towards the entire organization regardless of his professional objectives. Remuneration and evaluation of senior executives The organization Wesfarmers Ltd. and its executive remuneration framework has been concerned with influencing an effective culture through performance and relate the Groups strategy and business objective achievement with executive pay. Finally, the organization is committed to generate satisfactory returns to the business shareholders (Chapple and Humphrey 2014). Governance policies The ASX principles including corporate principles and recommendations has been set by the ASX corporate Governance Council for achieving a good governance and related best possible organizational outcomes for meet the reasonable expectations of the shareholders and investors in most of the sustainable situation. The Board perceives that the adopted policies and practices of the company Wesfarmers in the current financial year follows the recommendations for the company in the previous ASX principle related outcomes (Hermalin and Weisbach 2012). The company characterizes the significance of offering facilities to the shareholders and broader investment community for accessing the high quality information with up-to-date data, allowance for participating in the shareholders decision for the company initiatives and to provide the direction of two-way communication within the board, shareholders and the company, thereby leading to the organizational success tactfully. The Risk and Audit committee reviews and evaluate the internal control processes and policies which have been developed for maintaining integrity of financial report and to preserve the group assets. The audit and risk committee supervises the engagement of external auditors for ensuring the accurateness of the external financial reporting (O'Byrne 2012). The Audit and Risk committee is also responsible for formalizing the appointment of a new auditor, if an external auditor is needed to be replaced for his performance or independence reason or if any kind of discrepancies has been shown in his work. Risk management The board has approved the risk management policy which includes all the overarching details of the risk management system, the risk management structure, reporting system, the cheif risk management responsibilities within board, the role of each member in the risk management group. The board would review, monitor and approve the system with internal control and compliance mechanism (Clarke and Branson 2012). The managing director and finance director of Wesfarmers assess the assurance provided by the board about the effective operation of Groups external audit. The audit committee assesses and reviews the capabilities of the external auditors of the Group including their qualification, performance, independence, remuneration. The management team maintains and implements the internal control systems and risk management as well as develops reports for divisional risk compliance. Importance of guiding the principles Al-Bawab (2015) has stated that the guiding the principles of corporate governance have the idea to provide the organization the guidelines for the development irrespective of the types and the sizes. Going through the entire annual report of Wesfarmers, it can be seen that the first principle is that the responsible board of the company plays the major role in approving the vision, strategies and the purpose of the corporation. Therefore, the responsible board is required to perform sincerely for the best benefits of the corporation, so that the organization stays in the long run. The second principle states that the board of the corporation is responsible to set the ethical and cultural tone and this part is highly necessary for the international corporations (Aoki 2013). After looking at the second principle, it is required to focus on the third principle that states that all the executive directors of the organization must exercise the independent judgment and provide independent oversight of the management. The fourth principle opines that the responsible board of the organization is required to have a proper and appropriate system of risk omission along with the internal controls applied in the appropriate position. The fifth principle gives emphasis on the point that the concerned board is responsible for the selection and appointment of CEO along with the continuing evaluation of the roles, responsibilities and performances. After focusing on the fifth principle, it is necessary to shift the focus on sixth principle (Blakelock and Whitney, 2015). It can be seen that the responsible board of governance of Wesfarmers is accountable to make sure that the corporation and the responsible committee communicates with the stakeholders and all the members on a regular basis. Therefore, it can be stated that the decision making procedure of the board depends to some extent that they get proper and adequate access to information regarding the operations of the organization. Principle seven demonstrates that the board generally hands over certain functions to the administration (Claessens and Yurtoglu 2013). Following this, it can be stated that the seventh principle concentrates deeply on the overall performance of the board and tends to make sure that it is necessary to be regularly assessed. Therefore, it can be stated that these above mentioned principles of the organization are highly focused on from the management part of the organization. However, it is clear enough that the board of Wesfarmers is responsible to look at all these points and ensure appropriate procedures are followed to have sustainability in the long run (Bushee et al. 2013). Critical review of the organizations governance The governance board of Wesfarmers is performing in an effective way. The organization is following the ASX corporate governance principles. One of the success factor of the company is that the organization creates value for their stakeholders, while paying a positive role in the community. The organization performs its business according to community and environmental principles which is helping the organization to sustain their growth and development constantly. The Board of Wesfarmers has complied with their corporate commitment. The organization has separated and clarified the role of each member in the group (De Kluyver 2013). The risk management team has successfully identified the financial and non-financial risk for the organizational success. On the other hand, the risk monitoring system is preventing the development of other kinds of risk. The diversity policy and recent improvements are showing that the organization is working effectively for meeting their performance obje ctives. The group policies and the gender diversity plan have significant positive impact upon the organizational performance. In spite of a number of success factor, there are a number of areas which are weak and organization need to develop strategies for improving those areas. The area of leadership lacks diversity which may affect the employee satisfaction. In some reports, it has also been reported that equal payment of employees are not being followed (Kogut 2012). The company has committed that finding a cost efficient way is becoming harder for them which can affect their operation. In addition, the ethical sourcing is another challenge including transparency maintenance in supply chain. Recommendations for suggested improvement However, going through the entire research paper, in this part, it is necessary to provide some effective recommendations to the addressed issues in the organization. Initially, it can be stated that the management is required to use Information Request List in order to analyze the framework of the organization regarding good governance. Besides that, management of Wesfarmers is advised to incorporate the use of Document Request List, as this consists of necessity credentials, plans, policies, strategies and procedures of the organization. These two effective tools are suggested to use, as it is expected that use of these two tools might uplift the status of the company and lead it towards more productivity. The organization has the opportunity for improving the women leadership and its representation throughout their business. The organization should attempt to increase diversity in the leadership positions for enhancing the probability of getting diverse ideas for business decision making. Development of an internal senior talent management program and considering the unique role and levels within the business is recommended where women leaders would represent their business. The gender diversity policy followed by the Wesfarmers Ltd. board will help implementing these. Conclusions In this assignment, the focus was the analysis and review of the corporate governance. The selected company was Wesfarmers which is a retail organization growing and performing its business successfully in its industry. The corporate governance areas of this company have been reviewed thoroughly. The role of Wesfarmers board and the responsibilities of each members of the board have been reviewed. The corporate policies developed and approved by the board have been described here. In this context they have committed to perform better in the coming year. The guiding principles including the ASX principles of corporate governance have been described in the context of the organization Wes farmers. Therefore, it can be stated that corporate governance is one of the major concepts for running any specific business, as good corporate governance makes sure corporate success along with the economic growth. Apart from that, corporate governance minimizes the amount of wastage, corruption alon g with risks and mismanagement. The critical review of the organization included the evaluation of the success factors and the weaknesses for the organization. Finally, some appropriate recommendation for improving their performance has been discussed. Reference List Acharya, V.V., Gottschalg, O.F., Hahn, M. and Kehoe, C., 2012. Corporate governance and value creation: Evidence from private equity.Review of Financial Studies, p.hhs117. Aebi, V., Sabato, G. and Schmid, M., 2012. Risk management, corporate governance, and bank performance in the financial crisis.Journal of Banking Finance,36(12), pp.3213-3226. Akbar, S. and Ahsan, K., 2014. Analysis of corporate social disclosure practices of Australian retail firms.International Journal of Managerial and Financial Accounting,6(4), pp.375-396. Alattom, Z.A., Saat, M., Binti, M. and Idris, N.B., 2013. Internal audit quality role in raising the level of corporate governance: a case of jordanian banks.International Journal of Academic Research,5(1). Al-Bawab, A.A., 2015. The Extent of the Obligation for the Jordanian Private Universities in the Requirements of Corporate Governance to Raise the Performance of the Financial Management: A Field Study.International Journal of Economics and Finance,8(1), p.131. Aoki, M., 2013. Controlling insider control: issues of corporate governance in transition economies.Chapters. Australia, A.C.C.A., 2012. The state of sustainability report assurance in the ASX 100. The international journal of business in society. Blakelock, S. and Whitney, A., 2015. Tax risk governance.Taxation in Australia,50(4), p.199. Chapple, L. and Humphrey, J.E., 2014. Does board gender diversity have a financial impact? Evidence using stock portfolio performance.Journal of Business Ethics,122(4), pp.709-723. Claessens, S. and Yurtoglu, B.B., 2013. Corporate governance in emerging markets: A survey.Emerging markets review,15, pp.1-33. Clarke, T. and Branson, D., 2012. The SAGE handbook of corporate governance. London: SAGE. Darko, J., Aribi, Z. and Uzonwanne, G., 2016. Corporate governance: the impact of director and board structure, ownership structure and corporate control on the performance of listed companies on the Ghana stock exchange. Corporate Governance: The international journal of business in society, 16(2), pp.259-277. De Kluyver, C., 2013. A primer on corporate governance. [New York, N.Y.] (222 East 46th Street, New York, NY 10017): Business Expert Press. Erkens, D.H., Hung, M. and Matos, P., 2012. Corporate governance in the 20072008 financial crisis: Evidence from financial institutions worldwide.Journal of Corporate Finance,18(2), pp.389-411. Harford, J., Mansi, S.A. and Maxwell, W.F., 2012. Corporate governance and firm cash holdings in the US. InCorporate Governance(pp. 107-138). Springer Berlin Heidelberg. Hermalin, B.E. and Weisbach, M.S., 2012. Information disclosure and corporate governance.The Journal of Finance,67(1), pp.195-233. Klettner, A., Clarke, T. and Boersma, M., 2014. The governance of corporate sustainability: Empirical insights into the development, leadership and implementation of responsible business strategy.Journal of Business Ethics,122(1), pp.145-165. Kogut, B., 2012. The small worlds of corporate governance. Cambridge, Mass.: MIT Press. O'Byrne, S., 2012.The role of corporate communication in perpetuating inequalities of access by individual investors to corporate decision-making. Murdoch University. sustainability.wesfarmers.com.au, 2016. Independent assurance statement. Vidovich, L. and Currie, J., 2012. Governance networks: Interlocking directorships of corporate and nonprofit boards.Nonprofit Management and Leadership,22(4), pp.507-523.

World Healthcare Analysis an Example of the Topic Economics Essays by

World Healthcare Analysis There has been an increasing change in the healthcare industry trends and strategic management over the last couple of decades. Some of these include healthcare spending as well as production of biologic and generic drugs. Among some contributing factors to these changes include but are not limited to the following. Population ageing has and will continually act as a key factor in determining healthcare spending. Developed-world countries are experiencing a rapid population ageing as compared to developing countries. A study of 60 developed countries indicates that life expectancy is projected to rise from seventy two years in 2008 to approximately seventy three years by 2013. This implies that the average world population will age. New medical technologies emergence and adoption will also be a significant costs driver. It will further be influenced by extent of the benefits that payers will be willing to provide. These rising benefits levels will lead to excess cost growth-the fact that health spending growth per person exceeds the GDP growth rate per person (Economist Intelligence, 2008, p.2) Need essay sample on "World Healthcare Analysis" topic? We will write a custom essay sample specifically for you Proceed These two factors will be an added burden to the already bloated public health systems, although the real benefit levels that governments provide will more vigorously challenge the health systems financial stability than any other factor. On the same note, severe governmental fiscal problems are expected in the forthcoming decades in almost all developed countries. This is constantly making government healthcare benefits less affordable in these countries, especially putting into consideration the high rates with which populations are ageing at. One basic reason for this is that there is decreasing output in terms of labor force and as thus the number of tax payers is shrinking. With diminished taxes, governments are becoming less and less capable to provide healthcare. Many governments and private payers will inevitably respond to these issues in a myriad of ways. One such approach will be to reduce the benefit levels in an effort to curb such benefit growth so that it is brought to reasonable proportions with the GDP growth rate per individual (Walshe, 2003, p. 76). Others will attempt equilibrium by maintaining the benefits but at the same time aggressively attacking the prices paid to providers and suppliers in the system. Furthermore, others will encourage the populations to reduce lifestyle diseases burden by reappraisal of health attitudes at the societal level. In general, there will be an increased offload of the cost burden onto the patients and healthcare consumers. Similarly, other markets will use the expanded elderly populations political influence to pressure governments into increased retirement health benefits. A good example of this trend is what happened in the United States recently when Part D of the Medicare drugs benefit was introduced. This is because more employers will probably attempt to refrain from paying health benefits to former employees after retirement, a factor that would eventually overburden the concerned governments (Walshe, 2003, p. 74). On the other hand, private payers will more or less adopt a more preventive care from the conventional curative care in concerted efforts to reduce on the costs. Insurance providers are expected to lower premiums if evidence for choices of healthy lifestyles such as gymnastic exercises is provided. In addition, there will be an increase in incentives to make people more health conscious. The bottom of the line in this approach will ascertain that the beneficiarys health status and level of offered benefits will not be the only determinants of the medical costs premiums. Legislative changes will be part of the many policy changes that will be effected to push for reforms in many countries concerning the healthcare of the citizenry in the world healthcare market. In many countries, including the United States, quite a large proportion of the citizens remain deficient of even the most basic healthcare especially health insurance. The fiscal feasibility of a universal comprehensive healthcare Programme is in doubt for now but this remains a heated debate and political priority. One method to include all into this progamme is by subsidizing health insurance for those persons in the low income bracket (Economist Intelligence, 2008, p.5). A more significant system will be one that compares the efficacy and safety of the treatment procedures for both acute and chronic diseases as well as on prescription drugs. This will be aimed at arriving at greater cost efficiency in health systems. It is thought that the best way to adopt this is on a bottom up initiative. In conclusion, considering the increased burdens that come as a result of persistent chronic diseases brought about by sedentary lifestyles, there will be a significant trend that will lead to introduction, in developed markets, of value-based pricing. Based on pharmaco-economic reviews, governments will tend to combine reimbursement and pricing functions for higher contentious process and results there from. On the same note, it is expected that generic drug industries may take the order of the day if they are able to produce cheaper drugs whose efficacy can be ascertained beyond any reasonable doubts (Dabbah, 1999, p. 85). On their part, patented drug manufacturers are expected to be dramatically hit by such generic drugs growth. For the last few years, the greatest impact has been in the cardiovascular drug market. One country that has been known for its doctors to be reluctant in allowing branded drugs is Japan but researchers believe that Japanese doctors will soon or later follow suit along countries who accept generic drug prescriptions. References: Dabbah Roger (1999). Total R&D Management: Strategies and Tactics for 21st Century Healthcare Manufacturers. Buffalo Grove, IL: Interpharm Press, pp. 85 Economist Intelligence Unit (2008). World healthcare outlook: of mixed benefit. Industry Briefing, November 30th 2008; 1-8 Walshe Kieran (2003). Regulating Healthcare: A Prescription for Improvement? Philadelphia, Open University Press, pp. 74, 76

Assignment 205 Introduction to Duty of Care in Essays

Assignment 205 Introduction to Duty of Care in Essays Assignment 205 Introduction to Duty of Care in Essay Assignment 205 Introduction to Duty of Care in Essay Assignment 205introduction to duty of care in Health, social care or children’s And young people’s settings Task B Case Study Case Study One You are a support worker for Mrs Ahmed who is 89, physically frail and lives alone. She has diabetes. Mrs Ahmed wants to eat foods that are not suitable for her medical condition, and asks you to shop for her as she is not able to get the shop herself. BiDescribe the difficulties for you in exercising your duty of care and upholding Mrs Ahmed’s right to choose. I would consult Mrs Ahmed’s care plan, and advise her about your concerns that she follow a healthy diet, stressing that she will feel much better if she does so. I would also advise her about alternative foods. BiiWhere would you go to get advice, information and support to deal with the dilemma? I would seek advice and support from my manager, and get information from Mrs Ahmed’s care plan. Case Study Two Leon Quashie lives in supported housing. He has learning disabilities. You are his support worker. Leon tells you that he has a new friend who comes to his home and plays on his games console. A few days later you notice that the games console is missing. Leon tells you his new friend has borrowed it. BiiiDescribe the difficulties for you in exercising your duty of care to Leon and upholding his rights. As I am Leon’s support worker I would explain to him that I can call his friend and ask him to return the games console, if it does not get returned then I may have to inform the police. Also I would explain to Leon that I am there to protect him from being exploited or taken advantage of. I would explain to Leon he has a right to make mistakes and choose what he does with his possessions. Bivwhere could you go to get advice and support on how to ensure you uphold Leon’s rights but also follow your own duty of care? I would get advice from my manager, social worker and maybe the police. Task C Ciidentify a) Legal b) Organisational Requirements for dealing with complaints. a) The legal requirements are handled by CQC (care quality commission) b) Organisational requirements are Care home policies. (Manager) CiiComplaints may be received from service users, other practitioners, or the family of service users. Describe the important points to remember when responding to complaints. Listen to the complainant, give them your undivided attention, record the complaint accurately (check with the individual), tell them how and to whom the complaint will be reported to (show them your procedure), assure them that their complaint will receive attention and be resolved as soon as possible, report immediately and follow up, The complainant should be aware that their complaint has been taken seriously and a letter of acknowledgement should be sent out.

International Business - Global Marketing Essay Example | Topics and Well Written Essays - 750 words

International Business - Global Marketing - Essay Example Most firms will be reluctant to enter countries that have high political risks unless the potential returns are high or when countries with high political risk are providers of raw material that are in short supply. Thus, inflation rates, balance of payments, exchange rate stability, government budgets and the record of growth will be considered to evaluate the prospects for economic instability or crisis. Environmental scanning, strategy development and consistent market and global industry monitoring are the main steps for successful operation oversees (Keegan, Green, 2003). 2. The organizational theory/management has a long history goes back to ancient times. The main stages of management history development coincide with the traditional stages of historical development. The first is the Ancient history including Sumerians, Egyptians, Babylonians (Hammurabi's Code), Hebrews (Jethro), when private merchants appeared. Scalar and Exception Principles were the core of management. It is possible to include the primitive stage into this classification, when collecting and primitive trade (interchange) existed, but this management process was not conscious, but rather intuitive. In Ancient East, China developed management thought based on a class principle (division of labor), generic and distinct management styles. Further, Alexander the Great developed a staff principle. During Medieval Period delegation principle and Mercantilism were developed. In their works Machiavelli and Thomas More discussed the principle of ideal organizational structure. Industrial period has lasted from 1765 to present time. This period is marked by a free market system of production, corporate culture and integration (R. Owen, A Ure). The XX century has evolved the main concepts of contemporary management practice utilizing the previous knowledge (Keynes). (Minor, 1995). 3. a). A company should use international division when it achieves competitive advantage in a national industry and requires executives and managers to maintain a well-defined strategic focus abroad. Their task is to guide marketing efforts, coordinate and direct activities and monitor economic environment of a country to predict possible opportunities and threats. International division will be able to maintain a strict control over trade and administrative activities in a foreign country, and reach wider target audience implementing advertising and promotion activities. A single organizational unit will help to deal with special environment of a foreign country. The international division cannot solve the problems of another layer of management if its budget is inadequate to this task. It cannot solve the problems outside its regional location (Keegan, Green, 2003). b). Global product structure is often considered as a separate marketing context requiring adaptations of the product, its price and the way it is promoted to account for differences in cultural expectations or constraints imposed by the governments of nation states. Geographic approach allows a firm to select particular markets similar to their organizational arrangements, which help to avoid a failure if products are not tailored to local markets. Such differences have led many firms to appoint local agents in different countries to

Empirical Techniques in Econometrics Essay Example | Topics and Well Written Essays - 2500 words

Empirical Techniques in Econometrics - Essay Example Econometrics is the application of statistical methods for solving the financial issues. It has many applications like – the effect of the economic conditions on the financial markets, the asset price derivations, predicting the future financial variables and other financial decision-makings. In econometrics there is a lack of adequate test data for applying the particular methodology, this is termed as the small samples problem. There are further constraints in Econometrics with respect to data revisions and the measurement error. These problems are generally faced due to the subsequent revisions in the reference data and the incorrect data estimation or incorrect measurement of data. The frequency of observation of the financial data has far-reaching implications. For the sake of understanding, just imagine the example of the prices of stocks in the share market, they are highly volatile and keep on changing every day, hour, minutes and so on. So to have precise knowledge of these prices one needs to have large quantum of data, in tens of thousands or in millions. Financial data are very noisy in the sense that it is highly difficult to draw a certain pattern or trend from the available data. In other sense the data doesn’t have a specific distribution. But approximations are applied for modeling of the market and for analyzing the future trends, values of financial variables.... sections, e.g. the weekly prices of mid cap shares over the period of five years. Cointergration: The macroeconomics and financial economics has empirical research based on time series. The macroeconomic time series has a nonstationarity property, which means that the variable doesn't return to a constant value or a linear trend. The stationary processes has a basic tendency of moving around a linear value i.e. the mean value and its fluctuation from this value is termed as the deviation. The variables such as employment, asset prices, gross domestic product follow a nonstationarity property and possess stochastic trends. Consider the trend in the financial return series like the rate of change of daily exchange rate. The figure shows the volatility of returns. Fig.1 Earlier it was a general practice to estimate nonstationary process equations in macroeconomic models by the simple linear regression. Clive Granger (1981) proposed a solution to the time series by a simple regression equation: (1) where, = dependent variable = single exogenous regressor = white noise To stress the solution, Granger defined the degree of integaration of the variable. Suppose a variable can be made nearly stationary by differencing it d times, then it can be termed as integrated of order d or I(d). Stationary random variables are I(0). In equation (1), if I(1) and I(1), then I(1). But there exists an important exception, if I(0) then I(0). The linear combination, holds same statistical properties as an I(0) variable. This