A monopoly from start to finish Essay

During out studies this term we have learned a lot about a Monopolistic way a company is able to maneuver in the business market and I would like to refresh your mind by offering a clear definition. A Monopoly is a situation in which an entity, either an individual or an industry or organization, is the sole supplier of a particular good or service. As such, this supplier has no competition from other suppliers and is able to control the market value of the commodity. Some monopolies are government-enforced or controlled, while others form naturally or through company merger. According to our focus of this paper, we are asking about the long-run competitive equilibrium of the Wonks Company that was earning a normal rate of return and were competing in a monopolistically competitive market structure. One of the questions we must answer regarding this change in business structure is how the company’s shift to a monopoly will benefit the stakeholders involved. One of the stakeholders who may be involved is the government. Monopolies sanctioned by the government are called legal monopolies. These are considered coercive monopolies, meaning that other companies are forbidden by law to compete against them. Governments also maintain some control over monopolies through competition laws, which prevent monopolies from engaging in unscrupulous or anti-competitive practices (http://www. reference. com/motif/Society/advantages-disadvantages-of-monopolies). The second question is how a Monopoly will affect other businesses and after research it is quite obvious from the definition of a monopoly that other companies do not have to worry about competition from other companies in the same market. Consumers are affected by this change because they must either purchase the product or service from the monopoly or do without it. When a company transitions from a monopolistically competitive firm to a monopoly, there will be changes with regard to prices and output from both of these market structures. So, let’s take a closer look at how prices are affected when a firm becomes a monopoly. A common practice among some monopolies is price discrimination, in which the monopolist charges some segments of the population more than others for the same product or service, based on a higher need or a wealthier consumer base. This would usually be called price fixing which is an agreement between participants on the same side in a market to buy or sell a product, service, or commodity only at a fixed price, or maintain the market conditions such that the price is maintained at a given level by controlling supply and demand. When the monopoly is able to prevent buyers from reselling their product, they may be able to price discriminate to accentuate the effects of monopoly power. In my opinion the most important group that is affected by a Monopoly are the consumers. Monopolies can impact consumer prices in two obviously different ways, they can cause prices to drop so low that it forces companies out of business or it an cause prices to skyrocket making it difficult for consumers to purchase a product, neither being a good option for the consumer. If one business is the only provider of a product or service, the consumer is forced to pay whatever the price they demand. This can also lead to the company providing a low quality product or service without fear of losing business (Home, 2009). Since monopolies are the only provider, they can set pretty much any price they choose, regardless of demand, because they know the consumer has no choice. Is this sort of thing fair to consumers? Of course not, but it is how big business is able to stay on top of the market. For example, most people find that Apple products have an outrageous price tag, but I have come to learn that the quality of their products is outstanding and I estimate that Apple will continue to rise in popularity for years to come. It has also come to my attention that because Monopolies try to monitor the price of products they may resort to price discrimination. Price discrimination is sometimes defined as the practice of a firm selling a homogeneous commodity at the same time to different purchasers at different prices . Of course, I believe it is important to understand what and how price discrimination occurs. â€Å"Price discrimination exists when two similar products which have the same marginal cost to produce are sold by a firm at different prices. This sort of practice is highly controversial in terms of its impact on both consumers and rivals† (Price Discrimination, 2006, p. 1). There are many ways to accomplish these sort of conditions because the transactions surely need not be simultaneous; indeed, there is temporal discrimination, such as between Sunday rates and week, day rates, matinee and evening prices, peak rates and off-peak rates, season and off-season prices. To sell different qualities or products with different marginal cost at the same price, or to buy different qualities or factors of different efficiency at the same price, is also discriminatory. Based on all of this useful information we must also answer the question regarding which market structure is more beneficial for Wonks to operate in and will this market structure benefit consumers? In my opinion it is based on the level of quality and service of the products and how much consumers are willing to pay for the products they want to purchase. In a monopolistic competitive market the consumer may choose to purchase a substitute product for a lower price, but only if the consumer values price over value. Of course with a monopoly there may be only a few companies offering a substitute product. If one company’s product becomes too high in price, the consumer will eventually look for another brand that offers similar use. According to economist, the monopolistic competitor’s demand curve is less elastic than a pure competitor and more elastic than a pure monopolist. Monopolistic competitors have excess capacity which means that fewer companies operating at capacity could supply the industry output. It is my opinion that Wonks might operate more beneficially as a Monopoly than at a Monopolistic Competitive firm because they will not have as much competition to deal with and they can corner the market with value and price. Resources: 1. McChesney, F. S. , Shughart II, W. F. , & Haddock, D. D. (2004). ON THE INTERNAL CONTRADICTIONS OF THE LAW OF ONE PRICE. Economic Inquiry, 42(4), 706-716. doi:10. 1093/ei/cbh091 2. Mainwaring, L. L. (1977). MONOPOLY POWER, INCOME DISTRIBUTION AND PRICE DETERMINATION. Kyklos, 30(4), 674. 3. https://www. fcsknowledgecenter. com/uploads/2011_Row_Crops_Industry_Perspective. pdf 4. http://academic. udayton. edu/lawrenceulrich/Stakeholder%20Theory. pdf 5. http://www. answers. com/topic/mergers-and-acquisitions 6. http://www. helium. com/items/1405663-what-is-a-monopoly-what-do-monopolies-do-how-is-the-economy-affected-by-monopolies 7. Case, K. E. , Fair, R. C. , and Oster, S. E. (2009) Principles of Microeconomics (9th ed). Upper Saddle River, New Jersey: Pearson Prentice Hall.

Goa A Paradise Essay

The tiny emerald land on the west coast of India is best known as a place of sandy beaches and parties. But far from the popular tourist hotspots, sandy beaches and loud parties – lush greenery, sparkling waterfalls and the calm of the countryside is the other face of Goa. Party all night long besides the beaches, getting tan and cocktails in the bright sun is what people generally understand from Goa. But for me the beauty of this city was just mesmerising. And it was the beauty of the crystal clear water or the beautiful canvas of Mother Nature that was calling on to me. It was peace and inner contentment which I witnessed in those beaches or taking strolls in the markets. For me to see the beauty of Goa one needs at least a week but the truth is even that week was not enough to incapacitate the stunning beauty of this city. The beaches of Goa are not just blue sea or sandy shores but the true beauty of the beaches is more to feel than to see with the naked eye. Aguada beach was the first beach which I had the opportunity to witness. Early in the morning with not much tourists or the local crowd this beach is the perfect place to relax and admire the breath taking beauty. As far as I could see I saw nothing but the giant ocean as if it was stretching out its arm, and wanted to hold sky into its bosoms. The sun rising from the edge of the sky marked a gold line that beautifully lit up the horizon. The rays of the sun turned the entire blue sky into shades of bright red and orange as if it was on fire. The rising sun was glorious and breath taking as it embarked on the fresh start of the day. The bright sun was nearly hot enough to cover me in an invisible blanket of warmth. The sunlight was glittering on every grain of sand lighting it up into tiny pieces of gold covering the land as far as your eyes can see. Hearing the sound of the waves felt as if god was playing musical symphonies on his piano. Each note would descend in such a beautiful way to give the other note a fresh start. The water was so blue as if a goddess had enwrapped herself in the beautiful symphonies played by her lover to form the drapes of her dress. Soothing, a gentle sea breeze rustles through your hair, softly whispering in your ears â€Å"come fly with me†. The location of this particular beach is so magnificent that no matter how bright or hot the sun is, the cool breeze flowing across would match up the temperature giving a perfect weather. As you walk along, you find gorgeous, shiny shells that have been washed into the shore by the rippling of the water. The warm, golden sand runs between your toes with the gentle breeze. Lying on the beach in the warm sand and looking up at the beauty of the vast canvas of nature even the naked eye is not enough to capture and understand. Vibrant yet soothing streaks of colour had filled the canvas of the sky. There were strokes of pink and orange that resembled the soft, supple skin of a perfectly ripened peach. Away from the city, the noise, the hectic schedule, the crowds, relaxing at the beach feels so calm and peaceful that no words can describe that joy. And where the time flew I had no idea. And soon it was time for sunset. The setting sun’s radiant face was mirrored by the shimmering clear blue waves of the sea which was framed by sloping land on either side, both of which were flourished with a palette of different bright shades of green, orange and purple. My ears were filled with the sweet joyous sounds of some children playing at a distance along with the humming of the birds and the sound of the rhythmic waves which created a melodic, soothing combination. Huddling into the exuberant verdure the beautiful waterfalls inland are like a sight of the paradise, watching them for hours will not be enough to satiate your desire to feast your eyes on that beauty of incredible merging of colours. There is no one on the beach. You are on your own in that Paradise corner – away from the noisy and hectic city. There are no crowds, no cars, no traffic jams. Being away from the boring routine, you feel calm and happy.

Cognitive Behavioral Therapy Essay

In the early 1960’s there was a drift towards Cognitive Behavior Therapy as people turned away out of disappointment in the psychodynamic theory for psychotherapy. Also at this time social learning theory was the new and upcoming study. This is when Cognitive theory emerged with Alfred Adler. He was the first Cognitive therapist who came up with the idea that an individuals beliefs and ideas is what makes up their behavior (Lantz, 1996). He believed that this type of psychotherapy would allow the clients to make changes in the way they think to change their behavior and solve their problems. Alfred Adler was not the only contributor to Cognitive theory. Between the late 1950’s and early 1960’s Albert Ellis came up with dysfunctional thinking or emotions that come from irrational beliefs. He sought out to change these unclear emotions with psychotherapy and by challenging these beliefs. His books are very well known and used a lot of by different therapist. He is basically considered the grandfather of Cognitive Behavior Therapy and his ABC model is used widely. Albert came up with Rational-emotive therapy, which was later on changed to Rational-emotive behavior therapy because Ellis wanted his clients to act upon their new beliefs by putting them into practice (Wilde, 1996, p. 9). Others who have contributed to Cognitive theory have been William Glasser, Arnold Lazarus, Don Tosi, Victor Ramy, Maxie Maultsby, Aron Beck and many more. William Glasser used effective psychotherapy to help his clients find courage to change their life style and become more responsible of their goals. He did this by pointing out the worth of self and the basic human need to be loved. His ‘reality therapy’ consisted of his clients focusing on personal responsibility to understand their own reality (Lantz, 1996). Arnold Lazarus came up with the seven modes of the client that help assess their functioning. These seven modes are sensation, imagery, cognition, behavior affect, interpersonal living and drugs (Lantz, 1996). These modes, according to Lazarus, would help come up with a treatment plan that would help the client in all areas of their function lives. Don Tosi contributed to Cognitive theory by intergrading hypnosis with the therapy. Hypnosis is used to help the clients picture their thoughts in a healthy way through exploration and redirection (Lantz, 1996). Victor Ramy focused his work on helping clients change their self-concept. His books show how to help a client work with and change the cognitive misunderstanding of themselves. Maxie Maultsby used the ABC model as used by Albert Ellis but he also contributed by using rational behavior therapy with youngsters, for self-help groups, and group therapy. Aron Beck was a psychiatrist who used cognitive treatment to help his clients who had anxiety and personality disorders. He did extensive research on effective Cognitive therapy and how it helps clients with a range of individual problems from suicidal patients to those who have borderline personality disorders. Many of those who contributed to Cognitive therapy were not social workers. The first social worker that used Cognitive therapy was Harold Werner. Werner struggled early on when he tried to bring Cognitive therapy to social work as those who had a psychoanalytical point of view attacked him. His efforts allowed the theory to be accepted in the social work arena. Howard Goldstein also helped bring Cognitive therapy into the social work profession. Behavior theory is a mixture of different theories combined and it first came about in the first quarter of this century. The work of Ivan Pavlov and his classical conditioning theory, the work of B.F. Skinner and J.B. Watson and their operant condition theory and the work of Bandura on the social learning theory is all combined in the behavior theory. The classical conditioning theory states that a conditioned stimulus can cause a conditioned response with the famous example of Pavlov and the salivating dog. This is a behavior that is learned and that can be used to help clients during therapy especially those who have anxiety disorders. The operant conditioning uses human behavior and examines it. Skinner believed that behavior was measurable and that certain situations cause human to react is certain ways. Once these behaviors are learned through the scientific method we can predetermine a clients actions and help them with either negative or positive reinforcements. This will either increase or decrease the client’s behavior depending on if the behavior is punished or positively reinforced. In the late 60’s is when behavior theory became a front-runner with clinical social work. At this time the psychodynamic theories were under attack and a new theories were sought out. Social learning theory focuses on using the ABC model that Albert Ellis used to help clients. This involves finding the antecedents, target behaviors, and consequence in ones problematic behavior. Antecedents is what the client was doing before the situation occurred, target behavior is the behavior that needs to be changed or focused on and the consequence is the result because of their target behavior (Thomlison & Thomlison, 1996). These three are analyzed to figure out what needs to change in the behavior to get an alternate positive consequence or to see how the situation can be avoided. Principles and Concepts: There are four basic concepts to Cognitive theory. The first uses Albert Ellis’s ABC model to deal with the emotions we feel and the way we think about our situations and ourselves. The ABC model helps us identify our thoughts and then helps us control our emotions (Lantz, 1996). If what we are thinking during a situation is irrational then our emotions are going to be uncontrollable and irrational also. If we have rational thoughts then our emotions will be functional. If our trigger behavior causes irrational emotions then we need to find rational emotions to replace the irrational belief (Wilde, 1996, p. 33). The second basic concept to Cognitive theory is that these irrational beliefs are in our unconscious and we are not aware of them. This may make it difficult to find out what the thoughts are and why we have dysfunctional emotions. To help our clients notice their irrational beliefs we have to allow them to learn misconceptions about themselves so they are more aware of their thoughts. Irrational believes lead to illogical emotions, which causes the client to react in an unreasonable way, but there are exactions to these types of situation, which is basic concept three (Lantz, 1996). Sometimes the way we feel has nothing to do with our irrational beliefs. What we are feeling is really true or there could be a neurological or other health problem, which can make an individual feel down or angry or upset. A disparity in the brain chemistry can cause dysfunctional emotions. Lastly all irrational emotions are not always dysfunctional which means a rational belief can be dysfunctional also. A client might get sort of ‘high’ or excited from something dangerous such as a gun. Playing with a gun might give a client a feeling of excitement and happiness but it is not safe to play with guns. Feeling happy or excited is not considered a dysfunctional emotion but in this case we would have to teach the client about the misconception in their mind that playing with guns is safe or fun. Cognitive theory allows a person to recognize their environment and their situation both physically and communally and it allows them to work through and change it (Lantz, 1996). A basic concept to Behavior theory is that all behavior is learned and that individual have problematic behaviors. According to Skinner our social problems can be measured through our behavior. By changing the environment and reinforcing the client with either positive reinforcement or negative reinforcement we can get them to change their behavior. The stimuli from the reinforcement will allow the client to either change or remove the behavior (Thomlison & Thomlison, 1996). Social learning theory, which involves the ABC model, shows us how behavior can change for the better. Similarities and Differences: The biggest similarity between Cognitive theory and Behavior theory is the intertwining of the Social Learning Theory. They both use the ABC model and look at the antecedents, behaviors, and consequences of each situation. With Cognitive theory, the trigger behavior comes with an irrational belief that needs to be changed. Clients often times have irrational beliefs during their behavior. After the consequence takes place the ABC model will help us show them their irrational beliefs and teach them that with a rational belief a different consequence could have taken place. With Behavior theory a similar pattern is used. The problem is identified and the target behavior is observed by the social worker other wise known as ‘behavior analysis’ (Thomlison & Thomlison, 1996). The social worker then works with the clients on changing both the antecedents and the consequences to attain a different behavior. Changing the antecedent is known as manipulating the environment condition (Streff, Geller, 1986). The antecedent is changed to increase a positive behavior in the situation. The consequence is used as reinforcement either positive or negative. The reinforcement allows for a change in behavior. The difference between the two theories is that one focuses on the beliefs and emotions that one has about themselves and the behavior that comes from these beliefs and the other focuses on problematic behavior and the reinforcements that change this type of behavior. Behavior therapy uses both positive and negative reinforcements and Cognitive therapy focuses on eliminating the negative behavior or emotion and replacing it with positive rational behavior. A belief scale that serves as a measure from one to ten, is used to see how irrational the clients beliefs really are (Watson, Morris, Miller, 2001). With Behavior therapy reinforcements are used to encourage clients but with Cognitive therapy rational beliefs are used to encourage clients. The clients are questioned on their beliefs and often times humor is used to show the clients how irrational their beliefs can be (Wilde, 1996, p. 61). A limitation of behavior therapy is that reinforcement don’t always work for everyone. A stimulus for reinforcing someone depends on that person’s perception of the stimulus (Wilde, 1996, p. 18). If an individual is having behavior problems and the negative reinforcement is to stay after school, the individual might not think of it as negative reinforcement if they don’t like going home. Their situation at home might be worse then staying after school for detention. Another issue is that behavior theory only deals with the exterior of the problem and does not investigate the deep down root of the problem. Because behavior therapy doesn’t focus on the internal process of the client, the reinforcements are only successful if they bring change in the client’s life for the better. Although Cognitive theory may look at the root of the problem by focusing on automatic thoughts and core beliefs, it also has limitations. It is argued that Cognitive theory only looks at the problem for that one situation that occurs. One incident takes place where the client has inappropriate behavior with irrational beliefs (Atherton, 2007). Other aspects of the client’s life may or may not come up while discovering their irrational beliefs. Another issue is that with Cognitive theory, treatment is not emphasized with family members, the environment, and other interventions (Lantz, 1996). Both theories are culturally sensitive and work with all different backgrounds. Because different races and cultures have different social misconceptions, irrational beliefs may vary from culture to culture; but all cultures have irrational beliefs (Lantz, 1996). What is considered positive or negative reinforcements in one culture may not be considered so in another culture. These types of things vary but both types of therapy work with all different sorts of people. Both theories are compatible with the NASW code of ethics. Cognitive therapy and Behavior therapy both value the client and humanity. Cognitive therapists emphasize the use for rational thinking, which is not only for the client but also for society. The worth of the client is maintained and it is important to make sure that the client doesn’t feel threatened or ashamed by these techniques and it is up to the social worker to maintain these techniques. Blending The Two Theories: Research shows that when blending Cognitive therapy with Behavior therapy there are no proven results that the outcome is better for the client right away. The research does show however that there are more long term results when combining the two theories as apposed to just using one therapy or the other (Thomlison & Thomlison, 1996). Behavior theorists such as Skinner argue that when combining Cognitive theory to Behavior theory, the focus on behavior gets diverted and so the therapy is not as effective. Research is not conclusive on this matter but it shows that efficacy to the therapy depends on the problem that the client is having. As time goes on most social workers use Cognitive Behavior Therapy and not just one or the other. By blending the two theories we can focus on the client’s behavior, reinforce their positive behaviors and allow them to recognize their ideas and beliefs about their behavior to allow them to make rational choices and have rational emotions.

Architecture, Women and History in Saudi Arabia Essay

Architecture, Women and History in Saudi Arabia - Essay Example The Kingdom Centre is the property of Alwaleed bin Talal bin Abdulaziz Al Saud, a prince of the Saudi royal family. Kingdom Centre is situated in Al-Urubah Road between King Fahd Road and Olaya Street in the growing business district of Olaya in Riyadh. In 2002 Kingdom Centre won the Emporis Skyscraper Award and was selected as the "best new skyscraper of the year for design and functionality. The three-level shopping center, which also won a major design award, fills the east wing. The large opening is illuminated at night in continuously changes colors. Besides the shopping mall, the Centre also includes a Four Seasons Hotel and state-of-the-art apartments. The ellipse motif taken from the tower's footprint appears in the light fixtures, ceiling panels, entrance canopy, wastebaskets, and furniture. The Shopping Mall contains 161 prestigious stores. The Al Faisaliyah Center was the first skyscraper constructed in Saudi Arabia, and the second tallest building in the country after the Al-Mamlakah . The golden ball constructed atop the tower is said to be inspired by a ballpoint pen. Inside the ball is a restaurant; at ground level, a shopping center with major world brands. This research project aims to put into context the role of women in Saudi and relating it to general history of the female of the west. Perceiving modern Saudi Arabian architecture and the significance of our visual perception to gender codification is what this historical project attempts to analyse. As gathered by word of the mouth, visual reception of the external shape or architecture of the two building is perceived publicly as food items, namely, a bottle opener and a toothpick. Public opinion as defined by Hegel is: "The formal subjective freedom of individuals consists in their having and expressing their private judgments, opinions, and recommendations on affairs of the state. This freedom is collectively manifested as what is called "public opinion," in which what is absolutely universal, the substantive and the true, is linked with its opposite, the purely particular and private opinions of the Many. Public opinion as it exists is thus a standing self-contradiction, knowledge is thus as appearances, the essential just as directly present as the inessential" 1 Pubic opinion, inspite of being inessential and self-contradictory, is of cultural significance. This expression which presents the essential and the rational reflects a genuine need for correct tendencies in common life in a form of common sense (Hegel: 1952:104). In this context, the sign signifying and pointing to the signified is an indication of a primary concern and at the same time leaves a lot to imagination. In his argument, Hegel also points to the origin of the human desires of enslaving as primarily due to the need for food and sex. In this primary culture one of the Hegelian parameters has dominated the perception of the two buildings. The other parameter is the object of this study. What is the importance of the other Hegelian parameter of desire in reference to this project The role of the feminine is an indication

Business Communication Essay Example | Topics and Well Written Essays - 1000 words - 4

Business Communication - Essay Example A motivated team with clearly defined goals is capable of handling tough assignments effectively and efficiently. Today, people are constantly bombarded with the message that their top priority is to single handedly emerge as the best in the process forgetting the value of teamwork. Most managers ignore this vital aspect of business forgetting that without it, the company is doomed to fail as one can not work alone. Managers need to work with a group of carefully selected individuals who will complement their skills in order to achieve a specific objective to enhance efficient running of the organization. In this paper, teamwork shall be looked at in depth, the major factors that ensure the delivery of a team and factors that lead to strained relationships within a team. Teamwork is the ultimate competitive advantage because very few people properly execute it to get the best possible results. According to Accel team (2010) building a strong team remains one of the greatest hurdles managers have to overcome. Although not an impossible task, it is time consuming and needs a great deal of patience especially since human beings are inherently unmotivated. Its place in companies and the business world at large is critical and managers have to learn the art of carefully picking out members of a team and push them towards a unified direction. A team needs an assertive leader to ensure everybody carries out their work. In essence, a hands-on leader is the backbone of the team and they set the pace for the rest of the team. They need to work with diligence and ensure the completion of their end of the deal by doing their part well. They need to motivate the team, be a source of inspiration and yet be part of the team in working towards the goal. In a team every member has a role to play; they complement one another and eventually achieving success. For teamwork to succeed, each person has to realize the importance of other team players and recognize that without

Communication Essay Example | Topics and Well Written Essays - 250 words - 1

Communication - Essay Example (Holt) In this modern world where facebook has become famous it can be used as a communication tool keep in touch with the other organizations, departments and other locations. Another important tool of communication is E-mail. The success of the communication also depends on the type of technology being used. For instance if a company comprises of people who are expert in operating computer blogs, wikis and other methods of communication are the best tools to keep the organization well informed. So if the message is not properly communicated the communication will be lost. So before drafting any communication all the elements of communications must be checked. If an organization has to appoint new employees for vacant positions it is better that the organization hire from within their own organization by promoting the employees to a higher position as this will save the labor turnover cost on the other hand it will increase the morale of the employees of the company and they will wo rk more hard to improve their performance from before.. But if employees are to be hired from outside then the interview should be planned. It means that the interviewer should read each applicants resume prior to the interview. His focus should be on the core information desired. For instance, character, personality, work, experience, training, motivation etc. He should be aware of the national and state regulations regarding fair employment practices. Andy Philpot, the author

B2B Marketing Essay Example | Topics and Well Written Essays - 1500 words

B2B Marketing - Essay Example Product realization entails the preliminary research towards initiation of products that are to be marketed as well as the actual development and testing of those products over their effectiveness in meeting customer demand. In the framework of new product realization the entire process comprises a number of steps that constitute the procedure efficient in terms of matching the ‘new product’ to be launched with the market demand. However, as Storey and Easingwood (1999) indicate, new product development should be consistent with the market trends and with the firm’s capabilities and resources. In that extend, firms should be highly focusing on designing those characteristics and attaching those features to their new products/ services that are meaningful and ‘desirable’ for both customers and the firms themselves. Adopting a market driven strategy with regards to new product realization is vital in that it eventually allows management to identify and explore the critical stakeholders’ requirements or needs and gradually embed these in the product/service specifications prior to launching a new product/service (Herrmann et al., 2000). Strategic new product realizations offer comparative advantages to organizations mostly due to the fact that they are credited for increasing competence, adding value to the firms’ offerings and eventually strengthen the competitive opposition in the overall market environments (Storey and Easingwood, 1999). However, product realization strategy needs to be market – oriented in order to provide the fundamental basis for successful results. According to Chakravarty (2001) the development of new products is essential only if these new products incorporate and embed the customer requirements, customer needs and generally pertain to addressing customer demand. The author further expands this view by arguing that market driven product realization strategy reflects the strategic fit of the new

Amazon.com - Not Your Average Bookstore Case Study - 3

Amazon.com - Not Your Average Bookstore - Case Study Example For example, one can book the latest Harry Potter book on internet and get it immediately as it is released. It has exploited technology to have a definite and advantageous position within the industry Amazon has used disruptive technology to run its business because it helped transform traditional bookstore in physical format to a virtual store where people can access books of their choice without actually holding them physically. The conceptualization of a virtual store is innovative strategy that has changed the very concept of market. Disruptive technology broadly refers to a new concept that disrupts existing market and creates a new one with more value. Amazon has taken business and marketing to a new level where time and space have become irrelevant. Access to goods and products has become easier and selling and buying more convenient, both for buyers and sellers. It is like mobile phones which has redefined communication. Amazon has been constantly innovating to maintain its customers’ loyalty by personalization and customization to their changing preferences. It has been able to create a one stop shopping experience for the customers and also welcomes personal recommendations and reviews. By providing customers with unique experience of book world where customers not only buy what they want, Amazon has also been able to earn customers’ commitment and loyalty by ensuring that their recommendations are incorporated within the broader strategy and goal of the business. For example, it has started Amazon3 on the recommendations of its customers and provides them with virtual space to store the personal data or books. Amazon’s e business model primarily relies on exploiting technology to meet customers’ changing preferences and uses them to constantly evolve. From a mere virtual book store, it has evolved into a comprehensive service center offering people storage in cyber space to

Strategic Human Resource Management Essay Example | Topics and Well Written Essays - 3000 words - 3

Strategic Human Resource Management - Essay Example According to the paper  performance related pay system is considered as financial incentives offered to the employees, presenting high-level of performance and efficiency in competing the assigned tasks and duties. As a result of presentation of these rewards, the level of motivation and inner skills of the employees enhances to a significant extent that increases its effectiveness. Therefore, due to the presentation of high-ended performance, the productivity and corporate image of the organization increases in the market as compared to many other rival players. Along with this, the supremacy and ranking of the organization increases in the market thereby reducing the threat of new entrants or substitute products. This is extremely essential for an organization to retain its portfolio in this competitive market for a long period of time.From this discussion it is clear that  performance related pay systems or rewards are a sort of incentives offered by the management to its empl oyees in order to retain them for longer period of time. By doing so, the level of productivity and profitability of the organization might get enhanced resulting in amplification of its dominance in the market among others. It may be of two types such as monetary and non-monetary incentives.  Monetary incentives are of varied types such as bonuses, incentives, pension schemes, profit sharing, team awards, ownership, gain-sharing, salary supplements, improvement of job stabilities etc.

MARKET RESEARCH Essay Example | Topics and Well Written Essays - 1500 words

MARKET RESEARCH - Essay Example â€Å"Different kinds of market research need to be conducted during different periods in the life cycle of a company and those of a product† (Hewitt, 2011). For a market oriented company like Kellogg’s, market research adds business value and improves the company’s competitive advantage. Before launching a new product, Kellogg’s usually conducts a market research to understand the preference of consumers concerning new products and this helps them to reduce the chances of failure. The major difference between qualitative and quantitative research are that the qualitative one is subjective and the quantitative one is mainly objective. Inductive method is used in qualitative while the deductive method is used in quantitative research. The qualitative research is text-based whereas the quantitative one is number-based. The method used under qualitative research involves focus groups and in-depth interviews while surveys and structured interviews are the meth ods adopted in quantitative research. Qualitative research focuses on smaller groups, on the other hand, the quantitative one deals with larger groups. The former one spends more time for selecting subjects, while the latter takes more time on data processing. The data collected using qualitative research is unstructured whereas quantitative research collects structured data. â€Å"Kellogg’s has flourished through skilful marketing of good products, and by creating and sustaining a highly valuable brand name† (Kellogg’s: Revitalizing a valued character, n.d). Kellogg’s company faces the problem of innovation when compared to other competitors. Further qualitative and quantitative research is necessary to know the consumer preference and to increase the demand for commodities. Competition from other companies can only be reduced by introducing new innovative products, which is possible through market research. The problem of substitute goods is faced by th e company, which can be tackled only through perfect knowledge about the market and this further increases the need for market research. To expand market internationally, the knowledge of foreign market is a must and so further qualitative and quantitative research is required. Section 2- Findings from marketing research: Critically analyze the 4 stages that Kellogg’s underwent in order to launch the new Crunchy Nut bites. Provide a critical analysis for each stage. Also provide 2 suggestions to improve Kellogg’s marketing research in this instance. Kellogg’s is concentrating on importance of market research during the launch and development of Crunchy Nut bites. Kellogg’s undertook four different stages of research in order to develop this new product. Stage 1: Discovery: Kellogg’s is a market oriented organization, wherein, market oriented means that the entire organization focuses on the needs of its customers. So, in order to find the needs of the customers, Kellogg’s has done a research to identify a set of new food ideas that would be appropriate for developing the new Crunchy Nut product. The company has also conducted secondary research to find out modern trends in the cereal market and to acknowledge new products, flavors and food from around the world. â€Å"Kellogg’s have a world-class food research and development facility, Kellogg’s food scientists, nutritionist and engineers turn wholesome grains and other

Lab Chemistry Paper Essay Example | Topics and Well Written Essays - 1500 words

Lab Chemistry Paper - Essay Example The substitution reaction always competes with elimination reactions so to prepare Cyclohexanol in good amount, it is essential to suppress the substitution reaction. It is achievable using strong acids such as sulphuric acid whose conjugate base is a poor nucleophiles and running at high temperature to favors elimination. Cyclohexene is a hydrocarbon of formula C6H10. It is as an intermediate in various industrial processes useful in synthesizing other desired molecules. It also helps in the synthesis of maleic acid and it stabilizes high-octane gasoline (Williamson & Katherine, pp123-178). Cyclohexene is not very stable when stored for long exposed to light and air because it readily forms peroxides. Dehydration is the elimination reaction of alcohol; a unimolecular elimination (E1) reaction of an alcohol. This elimination reaction involves the loss of a hydroxyl group (OH‑) from one carbon and hydrogen (H) from the adjacent carbon. The overall effect of this reaction is the loss of a water molecule, resulting in the formation of a ∠-bond of an alkene or an alkyne. Dehydration is therefore the loss of water molecule (Williamson & Katherine, pp173-212). In most cases, dehydration of an alcohol requires the use of an acid catalyst and high temperature. Phosphoric acid (H3PO4) and sulfuric acid (H2SO4) are the most commonly used acid catalysts. When more than one elimination product can be formed, the more substituted alkene becomes the major product, which is obtained by removing a proton from the adjacent carbon that has fewer hydrogens (Schlosser, pp153-189). The more substituted alkene is the major product because it is the more stable alkene; therefore, it has the more stable transition state leading to its formation. Alkenes can also hydrate; that is the addition of water in the presence of an acid catalyst (Williamson & Katherine, pp123-178). The

Racism and To Kill A Mockingbird Essay Example for Free

Racism and To Kill A Mockingbird Essay In the book, To Kill a Mockingbird by Harper Lee, racism proves to be a major theme. The touchy subject of racism has hung around the world for practically forever and has not ever fully ceased to exist in any society; it has only been toned down over time. Judging people on just the color of their skin, is a huge roll in this book just as it was in the 1900’s when segregation was flooding throughout the United States, as it is shown in the picture on the cover page. Racism mainly occurs towards the end of the book and surrounds the trial of Tom Robinson, a black male accused of raping a white female. However, in chapter 8, Harper Lee explores the theme of racism through the symbol of the snowman that Scout and Jem build. The snowman consists of mud to begin with and Scout comments on it by saying, â€Å"Jem I ain’t never heard of a nigger snowman† (Lee, 72). Scout may not have realized she was doing it, considering that in that time it was common to refer to people of color in this way, but she was using a toned down version of racism by using the offensive word ‘nigger’. Racism tends to occur because people like to stick to cliques, if you will, of others who are more like they are. For example, girls who have pale or slightly tan skin, dress quite similar, and have the same interests or hobbies in common tend to stick to hanging out with one another and form a bias towards people who are not like them. This is what creates the unacceptance of others into social groups. To Kill a Mockingbird is such a successful book because â€Å"Lee’s famous and only novel†¦ [shows] the way things have been, not only in real life, but also in the artistic treatment of the era† (Parker). This statement shows that Lee was just trying to prove the point of what society was like growing up and showing the dislike towards others in a person’s community just because they have a different ethnicity than that of themselves. People are affected everyday by racism and the harsh effects it has on them. It not only affects them mentally, but also emotionally and physically. Many people were beaten, and killed from harsh racism. The only reason racism has come around and still lingers is because people feel the need to make  themselves feel more superior than another human and to make themselves seem like they are of more importance than anyone of a different race than them. It is just like what Atticus tells Scout, â€Å"nigger-lover is just one of those terms that dont mean anything – like snot-nose. Its hard to explain – ignorant, trashy people use it when they think somebodys favoring Negroes over and above themselves. Its slipped into usage with some people like ourselves, when they want a common, ugly term to label somebody. (Lee, 107 – 109). He tells her this when he is giving her a lesson about how Racism works; as he is also teaching this to the audience. He informs us of the power of language and how it gives the person being affected, a feeling of shame. Although Atticus does point out that he, as everyone else should, is fighting for everyone, no matter what race they are, to have equality and feel loved by everyone in society. Racism has always been a malicious disease throughout the world. It exists, as said by one man, because â€Å"At the heart of racism is the religious assertion that God made a creative mistake when He brought some people into being† (Hertz). He is stating that many people believe that God made them perfectly and that people of any other race, are screw ups and don’t deserve to be considered equal. This is why it got so out of hand when America was just forming. The whites coming into America would buy, trade, and sell African-American slaves to work on plantations. Many of these slaves were malnourished, lived in poor conditions such as twenty or more people sleeping and living in a small shack, and were treated like animals. A good majority of these slaves died because of the harsh treatment they received all because the whites who â€Å"owned† them did not believe that they could be considered humans or deserved to have the same privileges and rights that they did in that time period. Thankfully, it has toned down from that, but there are still random outbursts of racism throughout the country and world. It will not go away until people learn that every single person on this planet is a human being and that being of a different ethnicity, gender, religion, or sexual orientation does not matter. To Kill a Mockingbird is an amazing book to see the full view of how racism affected those in one’s society as they were growing up. It also makes a  person realize how much of a big difference it can make in a human’s life being treated so poorly by others based solely off of the color of their skin. It brought the subject out in communities when people read the book and many finally realized what impact this had on everyone. Harper Lee’s message was spread and is still continuing to be spread today when students, teachers, and anyone else read the book. Although not everyone will take into consideration what it could do to a person when you make them feel guilty about being a different race, this book helps to remind them and engrains the message into their brain forever. Bibliography Hertz, Friedrich O. Racism Quotes. Thinkexist.com. http://thinkexist.com/ quotation/at_the_heart_of_racism_is_the_religious_assertion/193632.html Web. 5 Dec. 2012 Lee, Harper. To Kill a Mockingbird. Philadelphia: Lippincott, 1960. Print. Parker, Kathleen. To Kill a Mockingbird Exposed Racism. Newsmax. Newsmax, 12 July 2010. Web. http://www.newsmax.com/Parker/Parker-Mockingbird-Lee-Harper/2010/07/12/id/364362 5 Dec. 2012.

SWOT Analysis and Literature Review of HSBC Bank

SWOT Analysis and Literature Review of HSBC Bank SWOT Analysis A scan of the internal and external environment is an important part of the strategic planning process. Environmental factors internal to the firm usually can be classified as strengths (S) or weaknesses (W), and those external to the firm can be classified as opportunities (O) or threats (T). Such an analysis of the strategic environment is referred to as a SWOT analysis. The SWOT analysis provides information that is helpful in matching the firms resources and capabilities to the competitive environment in which it operates. As such, it is instrumental in strategy formulation and selection. The following diagram shows how a SWOT analysis fits into an environmental scan: SWOT Analysis Framework Environmental Scan   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  / Internal Analysis  Ã‚  Ã‚     Ã‚  Ã‚  External Analysis /   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚     Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  / Strengths  Ã‚  Ã‚  Weaknesses  Ã‚  Ã‚     Ã‚  Ã‚  Opportunities  Ã‚  Ã‚  Threats | SWOT Matrix Strengths A firms strengths are its resources and capabilities that can be used as a basis for developing a competitive advantage. Examples of such strengths include: patents strong brand names good reputation among customers cost advantages from proprietary know-how exclusive access to high grade natural resources favorable access to distribution networks Weaknesses The absence of certain strengths may be viewed as a weakness. For example, each of the following may be considered weaknesses: lack of patent protection a weak brand name poor reputation among customers high cost structure lack of access to the best natural resources lack of access to key distribution channels In some cases, a weakness may be the flip side of a strength. Take the case in which a firm has a large amount of manufacturing capacity. While this capacity may be considered a strength that competitors do not share, it also may be a considered a weakness if the large investment in manufacturing capacity prevents the firm from reacting quickly to changes in the strategic environment. Opportunities The external environmental analysis may reveal certain new opportunities for profit and growth. Some examples of such opportunities include: an unfulfilled customer need arrival of new technologies loosening of regulations removal of international trade barriers Threats Changes in the external environmental also may present threats to the firm. Some examples of such threats include: shifts in consumer tastes away from the firms products emergence of substitute products new regulations increased trade barriers The SWOT Matrix A firm should not necessarily pursue the more lucrative opportunities. Rather, it may have a better chance at developing a competitive advantage by identifying a fit between the firms strengths and upcoming opportunities. In some cases, the firm can overcome a weakness in order to prepare itself to pursue a compelling opportunity. To develop strategies that take into account the SWOT profile, a matrix of these factors can be constructed. The SWOT matrix (also known as a TOWS Matrix) is shown below: SWOT / TOWS Matrix Strengths Weaknesses Opportunities S-O strategies W-O strategies Threats S-T strategies W-T strategies S-O strategies pursue opportunities that are a good fit to the companys strengths. W-O strategies overcome weaknesses to pursue opportunities. S-T strategies identify ways that the firm can use its strengths to reduce its vulnerability to external threats. W-T strategies establish a defensive plan to prevent the firms weaknesses from making it highly susceptible to external threats. HSBC HSBC is a global financial services company headquartered in London, United Kingdom. As of 2010, it is the worlds 6th largest banking and financial services group and the worlds 8th largest company according to a composite measure by Forbes magazine. It has around 8,000 offices in 87 countries and territories across Africa, Asia, Europe, North America and South America and around 100 million customers. As of 30 June 2010 it had total assets of $2.418 trillion, of which roughly half were in Europe, a quarter in the Americas and a quarter in Asia. HSBC Holdings plc was founded in London in 1991 by The Hongkong and Shanghai Banking Corporation to act as a new group holding company and to enable the acquisition of UK-based Midland Bank. The origins of the bank lie in Hong Kong and Shanghai, where branches were first opened in 1865. Today HSBC remains the largest bank in Hong Kong, where the Group Chief Executive is currently based, and recent expansion in mainland China, where it is now the largest international bank, has returned it to that part of its roots. Its primary listing is on the London Stock Exchange and it is a constituent of the FTSE 100 Index. It has secondary listings on the Hong Kong Stock Exchange (where it is a constituent of the Hang Seng Index), New York Stock Exchange, Euronext Paris and Bermuda Stock Exchange. As of August 2010, it was the largest company listed on the London Stock Exchange, with a market capitalisation of  £115.8 billion. History HSBC (acronym origin: the Hongkong and Shanghai Banking Corporation) was founded in the former British colony Hong Kong (in March 1865) and Shanghai (one month later) by Scotsman Sir Thomas Sutherland (1834-1922). HSBC Holdings plc established in 1990 became the parent company to The Hongkong and Shanghai Banking Corporation in preparation for its purchase of Midland Bank in the United Kingdom and restructuring of ownership domicile for the impending transfer of sovereignty of Hong Kong to China. HSBC Holdings acquisition of Midland Bank gave HSBC Group a substantial market presence in the United Kingdom which was completed in 1992. As part of the takeover conditions for the purchase of Midland Bank, HSBC Holdings plc was required to relocate its world headquarters from Hong Kong to London in 1993. Major acquisitions in South America started with the purchase of Banco Bamerindus of Brazil for $1bn in March 1997 and the acquisition of Roberts SA de Inversiones of Argentina for $600m in May 1997. In May 1999 HSBC embarked on a major acquisition in the United States with the purchase of Republic National Bank of New York for $10.3bn. Expansion into Continental Europe took place in April 2000 with the acquisition of Credit Commercial de France, a large French bank for  £6.6bn. In July 2001 HSBC bought Demirbank, an insolvent Turkish bank. Then in August 2002 HSBC acquired Grupo Financiero Bital, SA de CV, Mexicos third largest retail bank for $1.1bn. The new headquarters of HSBC Holdings at 8 Canada Square, London officially opened in April 2003. Then in September 2003 HSBC bought Polski Kredyt Bank SA of Poland for $7.8m. In June 2004 HSBC expanded into China buying 19.9% of the Bank of Communications of Shanghai. In the United Kingdom HSBC acquired Marks Spencer Retail Financial Services Holdings Ltd for  £763m in December 2004. Acquisitions in 2005 included Metris Inc, a US credit card issuer for $1.6bn in August and 70.1% of Dar Es Salaam Investment Bank of Iraq in October. In April 2006 HSBC bought the 90 branches in Argentina of Banca Nazionale del Lavoro for $155m. In December 2007 HSBC acquired The Chinese Bank in Taiwan. In May 2008 HSBC acquired ILFS Investment, an Indian retail broking firm. SWOT Analysis of HSBC Strengths The bank is well capitalised and this has enabled it to perform relatively well against other banks in recent economic events. The level of capitalisation means that, going forward, the bank is unlikely to need to borrow from the UK government: this will enable it to retain more autonomy. The bank has a strong presence in emerging markets, putting it in a good position to take advantage of future growth in those economies. The banks global presence in Europe, Asia and South America helps to spread risk and offers significant economies of scale. Despite rebranding relatively recently (1999), the HSBC brand has become well-established and is considered particularly valuable within the industry. Weaknesses HSBC associates itself strongly with investment in the small business sector, but the current economic situation has led to increased risks, potentially compromising the activity levels in this area of the operation. The bank was involved with sub-prime markets in the US and has had to write off large figures lent to high-risk borrowers. Despite falls in the UK interest rate, HSBC has increased its mortgage rates. This may be perceived negatively by borrowers and potential borrowers, adds pressure to an already depressed housing market and could ultimately lead to more defaulting as borrowers struggle with higher repayments. A redundancy programme announced recently may affect morale among staff, leading to decreased production and loyalty. HSBCs branding emphasises its global presence, and this may be seen negatively by some customers in its implication of homogenisation and lack of personalisation. Opportunities HSBCs high level of capitalisation places it in a strong position to acquire assets Banks finding trading conditions particularly difficult at present may be available at low cost HSBC also has adequate capital to purchase stronger banks such as Bank Ekonomi in Indonesia, in which it has purchased a stake to continue its Asian expansion despite challenging economic times. HSBCs generally strong position presents the opportunity to outperform competitors during the economic downturn and to build a reputation for being one of the safer banks for depositors, helping to increase resources for lending. Negative press coverage of competitors such as HBOS may encourage customers to choose HSBC instead. Threats Trust in banks has decreased due to financial losses suffered by investors, who may be more inclined to invest elsewhere. Financial losses affecting banks and investors on a global scale have resulted in less credit being available to customers. In the UK this is coupled with increases in living costs resulting in less money being saved. The falling property market has created a rise in numbers of homeowners with negative equity. If a property is worth less than was borrowed to finance its purchase, there is little likelihood that the bank will recoup all its losses if owners default. Claims have been made that HSBC has understated losses resulting from US sub-prime markets, and this could undermine confidence in the bank. Literature Review Article 1: HSBC moves private bank boss Chris Meares to Asia The head of HSBCs private banking business has become the latest of the banks senior managers to move from London to Hong Kong. By Harry Wilson Published: 6:00AM BST 22 Oct 2010 Chris Meares, chief executive of global private banking at HSBC, will move out to Hong Kong as part of a reshuffle of the divisions management, though the businesss will remain headquartered in London. Mr Meares move to Hong Kong follows that of HSBC chief executive Michael Geoghegan at the start of the year. Since then several senior HSBC managers have moved out to Hong Kong, while Stuart Gulliver, who will takeover as chief executive from Mr Geoghegan in January will also move from London to Hong Kong. Mr Gulliver, who currently runs HSBCs global investment banking business as well as its European operations, has spent much of his career in Asia. Speaking recently, he refused to confirm whether HSBCs headquarters would remain in London, with speculation growing that the bank could return to its historic home. In September, Mr Gulliver said he was genuinely concerned that the Government-appointed Independent Banking Commission could recommend the separation of retail and investment banking businesses. Hong Kong is keen to promote itself as an alternative to London and the senior officials from the city have been visiting the UK to promote the advantages of moving business there. Standard Chartered, which has large Asian operations, is also seen as another bank that could move its headquarters out of London and its chief executive, Peter Sands, has made clear his concerns over the increasing amount of regulation in Europe and the UK. HSBCs decision to move of its private banking head to Asia in large part reflects the opportunities the bank sees in capturing a larger slice of Asias growing wealth. In a statement yesterday, HSBC said Mr Meares, along with the other management changes in its private bank was part of a strategy to take advantage of the entrepreneurial wealth creation taking place in emerging markets. Analysis Of Article This article is regarding transfer of chief executive of global private banking,Mr Chris Meares, who is being replaced by Michael Geoghegan at the start of this year. Since the transfer of Mr Meares several more managers of HSBC have moved out of Hong Kong. Mr Stuart Gulliver who is taking over Mr Geoghegan is also moving out of Hong Kong Mr Gulliver, currently running HSBC Investment Banking and European Operation, has spent much time in Asia. He recently, while talking to media, refused to confirm that if the business is moving its headquarters to its native home that is Hong Kong. In September Mr. Gulliver expressed genuine concern over Independent Banking Commission appointed by government to recommend separate banking for Retail banking and Investment Banking. Hong Kong section of HSBC is much interested in promotion itself as an alternate to London. Official of Hong Kong are visiting UK to convey advantages of moving to Hong Kong. Standard Chartered, having large Asian operation is also seeking to move its headquarters out of London and their chief executive too. HSBCs idea of moving its private banking head to Asia reflects the opportunities that the bank is seeing to capture Asias growing wealth. Conclusion Positive Point:- It will help to increase profits for the company. Will help to gain wealth of Asia. Will provide employment Will help to further improvement of the company. Efficient and Effective working of management. Negative Points:- Very risk Can lead to losses Can also lead to demoralisation of other managers. Article 2 : HSBC, Deutsche Bank Complete 1st Yuan-Denominated IRS In HK OCTOBER 22, 2010, 6:01 A.M. ET HONG KONG (Dow Jones)HSBC Holdings PLC (HBC) and Deutsche Bank AG (DB) completed the first yuan-denominated interest rate swap deal in Hong Kong, the U.K. lender said Friday, in another sign of growing activity in the offshore yuan market. The IRS deal, which was completed Thursday, will be delivered in two years and is based on the three-month Shanghai Interbank Offered Rate of 3.37%, HSBC said. HSBC declined to disclose the size of the deal, though a local broker said the deal was valued around CNY5 million. The new deal came amid Chinas efforts to boost yuan circulation in Hong Kong and to internationalize the currency. The market for yuan-denominated instruments outside mainland China has begun taking off as China experiments with loosening its controls on the currency, which isnt freely convertible. Yuan IRS products in Hong Kong had earlier been denominated in the U.S. dollar and were non-deliverable. Analysis HSBC and Deutsche Bank AG completed first Yuan-denominated interest swap rate deal (IRS) which is another sign of growing activity in the offshore yuan market. This deal was completed on Thursday and will be delivering in two years and based on three month shanghai Interbank offered rate of 3.37%. HSBC denied to disclose size of the deal but a local broker estimated this deal for about CNY5 Millions. This deal came after chinas efforts to boost yuan circulation in Hong Kong ant to internationalize the currency. The market for yuan denominated instruments outside china has started to take off as China is experimenting with loosening its control on the currency, which isnt freely convertible. Yuan IRS products in Hong Kong had earlier been denominated in the U.S. dollar and were non-deliverable Conclusion Positive Point:- Growing activity in offshore of Yuan market. Boost yuan denominated instruments outside china. China loosening its control on the currency of yuan. Internationalize the currency. Promote IRS products. Negative Points:- Delivering in two years. Big market of US to compete with,which can result in losses BIBLOGRAPHY http://www.telegraph.co.uk/finance/newsbysector/banksandfinance/8079081/HSBC-moves-private-bank-boss-Chris-Meares-to-Asia.html http://online.wsj.com/article/BT-CO-20101022-704524.html http://en.wikipedia.org/wiki/HSBC http://www.microfinancefocus.com/news/tag/hsbc .

Trends of Internet Health Care

Trends of Internet Health Care What is Internet Health Care? Technology has changed forever the way consumers perceive healthcare. the internet is utilized by millions of user to perform daily life activities such as shopping, bills paying, communication with colleagues or family members, dating, and now health care (Bau, 2001). In the past, only physicians were the source and provider of health care information and services to their patients (Hesse all, 2005). Also most information pertaining to health was only accessible in libraries, through medical books. In this new age of advanced technology, the internet has become the go to tool for patients seeking health information as mild as flu symptoms to more serious and life threatening disease as cancer. As much as 72% of world-wide-web users seek health information though the internet (Pew 2012). â€Å"Health seekers† utilize this tool to learn more about their condition, seek new treatments, interact with others in the same situation, and get answers to questions at any given moment day or night. The internet is allowing its users access to a wealth of information, all that in the privacy of their homes and at less cost. The â€Å"informed consumers† are getting more and more involved in every aspect of their care and they want to participate in â€Å"shared decision-making† (Sunday, 2000). Internet health information seeking can help patients be better informed, which can lead to better health outcomes, a better utilization of health service resources, and a strong er physician-patient relationship (Kassier 2000; Murray et al 2003). But, health information on the Internet may be misleading or misinterpreted, compromising health behaviors and health outcomes, or resulting in inappropriate requests for clinical interventions (Eysenbach, Kohler, 2002; Murray et al 2003). To access the full potential of internet as a source of health information, physicians need to recognize the potentials of this technology, while being mindful of possible dangers to patients’ health (Powell all, 2003). What is the trend? Worldwide about 4.5% of all internet are health related (Morahan-Martin, 2004). In less than a quarter of century, the internet users grew from 42% to 81% (Fox Rainie 2014). Seventy two percent of U.S. adult reported looking for health or medical information online for themselves or for others at least once in the previous 12 months (Fox Duggan 2013). The internet not only is a research tool for those seeking information regarding their condition, bit is also a tool diagnosis tool for those searching for answers online. Indeed the 2012 Pew Research Center’s Internet American Life Project health survey revealed that among the health seekers, 35% were â€Å"health diagnosers† meaning people looking to find answers for specific medical conditions online themselves or relatives might have (Fox Duggan, 2013). Across studies, the general observation was that higher education levels was strongly correlated to higher rates of Internet use for health but internet use was not a function of household income (Jansen Spink 2006). Most of the online health seekers (77%) start their search from general search engine like Google or through medical web sites (13%) proving some specific health information (Fox Duggan 2013). These results are somewhat inconsistent with a more targeted study by Dickerson, Reinhart, Feeley, Bidani, Rich, Garg Hershey (2004) accessing patients internet behavior in three urban primary care clinics were the majority of the patient (73%) reported starting their search on a medical website. Half of the inquiries are on behalf of a loved one which translates to 39% of the online health seekers population (Fox Duggan, 2013). Often women (64%) would report searching the net for health information than male (53%) even though they equally access the internet (Fox Duggan, 2013). Why health seekers like the Internet? Seekers of online information always cite tree main reasons for going online. First, the Internet allows them to seek information at any hour; second, they can get a wealth of information and; finally, they can access the information anonymously (Fox Rainie, 2000). Seekers of online health information are of two kinds: those with a diagnosed chronic condition and those without (Dickerson et al., 2004). According to studies, they tend to have a different approach toward online information seeking. Indeed, multiple studies revealed that people that perceive themselves as being unhealthy tend to be more proactive at seeking online information that will help them get a better understanding of their condition, or to seek for second opinion, or seek advance treatment of their ailment (Fox Rainie,2000; Dickerson et al., 2004) . Most users actually attributed their improve understanding of health issues to the use of internet and some even went further admitting internet has impacted how they manage their health care needs and their choice of a health care professional (Jansen Spink, 2006). The internet is a powerful education tool and a great support to consumer looking to get more involved in their health care and participate in share decision making. Internet improves users understanding of their chronic condition, treatments for their chronic condition, or other symptoms, conditions, or treatments, effects decisions about health or health care or on use of the health care system. Potential benefits of online health information Online health information has the potential of improving patients’ participation in some aspects of their care and their interaction with the care giver (Baker, Wagner, Singer, Bundorf, 2003). Most users go to health sites for research and reference purposes. Physicians and patient alike use the internet for health information-seeking and communication purposes. Physicians glean the internet to keep up with the latest innovation in their field. It is also a way to connect with colleagues from all other the world as there are no borders restrictions on the World Wide Web. Few use it to communicate with their caregivers or to buy medicine. Most health seekers have been able to get the information they need without revealing personal information. Anonymity is another great benefit offered by the internet. Anyone can go online and look for any symptom or condition without revealing it identity. For extremely shy people or for embarrassing health conditions, the internet is a good alternative to understanding or treating the condition without getting exposed. According to studies Many are using the Web to gather information on behalf of family and friends. Those who are in excellent health often seek online materials to help someone else; those who are in less-than-excellent health are more likely to be hunting for information for themselves (Fox Rainie, 2000). The 2012 Pew health survey reported that about half of the internet health quests are on behalf of a loved one (Fox Duggan, 2012). In addition, Internet has been proven helpful in assisting caregivers in their ability to provide care to cope and support for the person in their care (Fox, Duggan, Purcell 2013). A Pew internet health tracking survey from August to September 2012 revealed that 24% of caregivers (adults ages 18+) surf the net for reviews on prescription drugs, 30% got information , care, and support from people with the same condition, as much as 46% went online for diagnosis, and 72% gathered health information online (Fox, Duggan, Purcell 2013) In general, health seekers use the internet to seek information on present or immediate medical condition. It is important to note that in most cases, in person visit with a physician precedes the seeking of online health information. Often, a diagnosis following a doctor visit always urges patients to seek online information in order to better understand their condition. But then again, the decision on when to meet with the physician depends on who the patient is. In general, health seekers looking for information on behalf of a loved one will go online after a doctor’s visit, while health seekers looking for self will go online before the doctor’s visit, so that they can actively participate. The Pew health survey reports that 53% of â€Å"online diagnoses† reported their online findings to their physician and 41% had their diagnosis confirmed (Pew, 2012). Those results contradict a study by Diaz et al (2002) conducted on primary internal medical private practi ce patients who reported that nearly 60% of the patient did not discuss their findings with their physicians. Second opinion seeking health seekers use the internet to get a second opinion.(develop on this) Interactive and E-connecting- (use the article on cancer) there are countless number of online support groups for nearly every disease and condition, with infinite discussion topics (Forkner-Dunn, 2003). But just as important as the information exchanged in these e-discussions is the emotional support they provide. Being able to interact with others that can relate to the seeker situation is a coping mechanism. â€Å"My coping mechanism was to learn as much as I could about my cancer and my treatment, and the most convenient avenue for this was the Internet† said Karen Parles a cancer patient. Indeed, patients reported being less stressed about their disease once they are able to communicate with others in similar condition. Karen Parles a lung cancer patient sated â€Å"because of the sheer numbers of patients online, I was able to find others just like myself, and I no longer felt like the only 38- year-old nonsmoker on the planet with lung cancer.† This wealth of per sonal experience and support can be recorded for future reference of patients, clinicians, or health care planners (Forkner-Dunn, 2003). E-monitoring –mentioned the internet is a tool that can be utilized to monitor patients conditions (Forkner-Dunn 2003). Chronic conditions like diabetes, heart diseases, and obesity can specially benefit from e-monitoring. Internet can facilitate home management of medical condition via monitoring devices. For instance, monitoring device testing blood glucose level are widely popular among diabetic patients and these devices connected to the internet can transmit real time results to patients care giver. Patients can also monitor and transmit their weight via e-scale or access their heart or respiratory rate using e-shirt (Forkner-Dunn, 2003). Internet and physician-patient relationship A study accessing the impact of the internet on physician- patient relationship by Murray et al (2003) found that most physicians agree that patient bringing information to the visit was beneficial to the physician-patient relationship, but negatively affected time efficiency. Moreover it had no effect on health the quality of care or the health outcome. Health information on the Internet may make patients better informed, leading to better health outcomes, more appropriate use of health service resources, and a stronger physician-patient relationship (Murray et al. 2003). The internet can have a positive outcome on patients and be the best support they can expect when facing life threatening condition. According to a cancer patient in one study â€Å"The Internet has impacted my relationship with my oncologists and my surgeon in a very positive way. I would say that the information I learn on the Internet enables me to ask different questions, to affect the agenda, and to feel involved in my care. Online support that I receive from other patients often relieves anxiety and resolves minor issues that I would otherwise raise with my doctors†(Penson et al 2002). Negatives and obstacles of internet health information Privacy violations Health seekers are scared of what may happen to their information online. There is the fear of having their online activities exposed. Anonymity is one of the reasons people get online. To date this is no enforced policies preventing health websites from keeping tract on online users’ activities and selling those data without users’ content. The absence of enforced policies to guarantee a safe navigation and patients’ privacy renders the internet unsafe for the most concerned patients. Based on the Pew Research Center’s Internet Project telephone survey from July 11-14, of 1,002 adults ages 18 and older, 86% of internet users have tried to use the internet in ways to minimize the visibility of their digital footprints, 55% of internet users have taken steps to hide from specific people or organizations (Rainie et al 2013). Specifically 21% of internet users have had an email or social networking account compromised or taken over by some one else without permission. 13% of internet users have experienced trouble in a relationship between them and a family member or a friend because of something the user posted online.12% of internet users have been stalked or harassed online. 11% of internet users have had important personal information stolen such as their Social Security Number, credit card, or bank account information. 6% of internet users have been the victim of an online scam and lost money. 6% of internet users have had their reputation damaged because of something that happened online. 4% of internet users have been led into physical danger because of something that happened online. 1% of internet users have lost a job opportunity or educational opportunity because of something they posted online or someone posted about them (Rainie et al 2013). Inaccurate, incredible and difficult to evaluate – few studies to date have been able to access the credibility, and accuracy of online health information. One major problem encounter by health seekers is that most of the information online is too general and outdated (Fox Rainie, 2000, Rice 2006). Based on previous studies results, internet health seekers find it hard to find what there are searching online, or could not fully comprehend the information, or the information was overwhelming or unreadable (Zeng et al. 2004; Berland et al., 2001 ). Health seekers are equally divided when it come to the credibility of the information online (Fox Rainie, 2000). The most common problems mentioned were: no new information, information too general, confusing interface/organization, and too much information to process (Rice, 2006). Another obstacle to expansion of online health is inequality. The lack of necessary technology some part of the population is very problematic. Many senior, minority, and lower-income patients will be excluded if online forms of intervention were to be implemented nationwide for lack of access. Previous studies reported (who use the internet). There is a possibility that the expansion of this technology might prove to worsen inequality in the distribution and delivery of care rather than ameliorate it (DiMaggio, Hargittai 2001). Previous works have also pointed out wide variations in the quality of information available on the Internet. Inaccurate or poorly targeted information can to poor treatment choices. An excess of extraneous, irrelevant, or invalid information can burden health care providers and lead to the provision of efficiently care (Baker, Wagner, Singer, Bundorf, 2003). An assessment of 121 websites on five common health topics to evaluate their credibility reported that only 24% of the sites met more than two-thirds of the published health guidelines for that health topic (Rice, 2006). Berland et al. (2001)also reported that Internet health information has an inadequate coverage of important medical information. Destroy physician- patient relationship – the search of information online can lead to unrealistic expectations (Penson et al. 2002). Patients scattering the internet for information or alternative treatments, getting their hopes up only to have their physician reject it for cause of inaccuracy or irrelevancy may get frustrated put tensions into the patient-physician relationship. Murray et al. (2003) find a correlation between physician refusals to approve inappropriate requests, patients’ satisfaction, and a lower index of quality; particularly in managed care. Physicians sometime feel as patients armed with online information are challenging their authority. This reaction was strongly associated with harms to the physician-patient relationship, quality of care, health outcomes, and time efficiency (Murray et al. 2003). Recommendations Suggestions include kitemarks (seals of approval) for quality Web sites, codes of conduct for development and content of Web sites, market forces, directing users to trusted Web sites, filters, rating instruments for users, and public education in evaluating the quality of online information (Murray et al. 2003) Directing users to trusted web sites – providers can proactive in identifying the best internet health source to direct their patients. Suggested trustworthy organizations by Diaz et al. (2002) are the Health on the Net Foundation (www.HON.ch),the Internet Healthcare Coalition (www.ihealthcoalition.org),and Health Internet Ethics (www.hiethics.org). Past studies show that up to 35% of the internet users do not share their results with physician (Pew, 2014). The main raison being that physician did not ask or did not give the impression of wanting to get involved. Physicians can best assist patients by inquiring about internet usage and by helping in finding reliable source of medical information (Diaz et al. 2002). Provide accurate, credible, Reliable Information– web sites aiming at providing internet information should thrive to assure accuracy, credibility, and reliability. Health information provided to patients ought to be useful, up to date, and must provide a list of sources that support the reliability of the information. Privacy– HIPPA requirement for health organization using health IT should apply to health information web sites. Patients’ privacy should be respected and should not be shared without authorization. Conclusion All major changes always face resistance before people can warm up to the idea and then follow the acceptation phase. Like the introduction to telephone in health care more than a century ago, introduction of the internet as a form of health care delivery will take time before it can be viewed as a tool that add value to medical practice.

Bram Stoker’s Dracula Essay -- English Literature

Bram Stoker’s Dracula Bram Stoker’s Dracula is a classic example of Gothic writing. Gothic writing was very popular in the 18th and 19th centuries. In the early centuries, Gothic writing would frighten the audience and it was also used as a style of architecture. Dracula, which was first published in 1897, would definitely cause a shock as there was a supernatural being, roaming around sucking people’s blood by the neck. Gothic literature usually includes vampires, monsters or some type of ancient mystical creature. It is also set in medieval castles with secret passages, dungeons and ghost places. There are various types of Gothic literature such as romance and horror. There is just usually horror used but mixing both has also become very popular. Romance on its own was very well-liked in the 19th century. The word Gothic actually comes from the Goths language. A Goth was considered one of a German tribe who invaded Eastern and Western Europe. Gothic was a type of architecture prevalent in Western Europe in the 12th - 16th centuries, it was barbarous, rude and uncouth. Dracula contains a lot Gothic conventions which incite the reader. A convention is the main point of a specific type of writing, for example in Dracula there is the use of journeys/quests, diaries, letters, journals, weird places and strange creatures. These conventions are essential in the story of Dracula and it is important to understand them. Dracula, just like any other gothic piece of writing has a villain/vampire-Dracula, a hero-Jonathan Harker and a victim-Mina. Van Helsing also plays a main role as the slayer of Dracula. Chapter 1, like a lot of the other chapters is written in journal style. This journal is of the main ... ...safe and also the plan to kill Dracula. There is more than one convention but still it will not excite the reader as much as the other chapters. Bram Stoker has created such an effective piece of Gothic Writing as the reader can feel how it would be if they were in the same predicament as some of the characters such as Mina and Jonathan. The conventions express one’s feelings out clear like all the opinions in the journals and the letters to each other. Suspense and fear are something that people express in their own way, not everyone can find the same thing frightening. Some people may just be scared of seeing Dracula and the way he kills everyone by sucking their blood, other people may fear turning into a vampire or becoming a victim. He tries to make us see how it would feel like, if there was a blood thirsty monster staring at you, ready to pounce!

The Great Depression in America Essay -- essays research papers

  Ã‚  Ã‚  Ã‚  Ã‚  The Great Depression was a huge economic downfall in North America and involved many other industrialized countries of the world. The Depression began in 1929 and lasted for about ten years. Millions of people lost their jobs along with many businesses going bankrupt. The common misconception of the Great Depression is people think that the stock market crash was the main cause for it. There were many causes for the Depression; unequal distribution of money during the 1920’s was the main cause of the Depression. This unequal distribution happened on many different classes of people. The imbalance of money is what created such an unstable economy. The stock market was doing much worse than people thought during this period. This lead to the biggest stock market crash in our history. The misdistribution of wealth and the stock market crash caused the economy to plummet (Modern).   Ã‚  Ã‚  Ã‚  Ã‚  The stock market was bigger than ever in the 1920’s. Prices reached levels that people never dreamed of. At one point when the market was roaring in September 1929 forty percent of stock market values were pure air. This meant that investors thought that the stock market would go up because it had been going up. By 1928 and 1929 the Federal Reserve was worried about the high level that the stock market had reached (Galbraith 116). The Federal Reserve feared that the stock market might burst suddenly. If this did happen investment might fall, parts of the stock market might not be able to pay back debts, and even worse recession might result (Galbraith 118). The Federal Reserve in 1928 tried to make borrowing money for stock speculation more difficult and very costly by raising interest rates. All of the options that the Reserve tried had unfavorable risks associated with them. Many economists believed that the Federal Reserve was responsible for the recessi on. The stock market did crash on October 29 1929. The Federal Reserve tried to do to much to stop the recession and in return brought on the recession that they were trying to stop (America).   Ã‚  Ã‚  Ã‚  Ã‚  When the stock market crashed in October this day was known as â€Å"Black Tuesday.† On this day Americans saw their stocks lose a tenth of their value. The exact reason for why the stock market busted on this day are unknown (Delong 1). The stock market cras... ...t of 1935, which raised personal income taxes on the highest income levels (America).   Ã‚  Ã‚  Ã‚  Ã‚  On December 8, 1941 the U.S. Senate issued a declaration of war on Japan. Germany declared war on the United States on December 11, 1941. Industrial factories were at first slow to convert into making military machinery. By 1942, 33 percent of the economy was devoted to the war effort (Modern). This gave society a sense of patriotism and devotion to one’s country. Between 1941 and 1945 the United States spent about $250 million a day in order to defeat their enemies. Federal spending was more than $320 billion over that period. That was two times as much money as the federal government had spent in its entire history up until that point. This government spending stimulated an industrial boom and stopped unemployment. By the end of the war in 1945, the farmer’s income had more than doubled. Corporate profits rose by 70 percent and the wages of the employees increased by over 50 percent. The most interesting statistic was that the earnings of the botto m fifth of workers rose to 68 percent. The Great Depression soon came to an end being swept away by the war (America).

John Locke helped create Modern Democracy Essay

John Locke was an English philosopher and was considered as the first British Empiricists. His contributions proved great importance to the development of epistemology and political philosophy during those times, and is regarded as the most influential thinker to contribute to the liberal theory of government. As a whole, John Locke’s importance is reflected by the American Declaration of Independence, since men by nature is free and equal, discarding the thought about having a monarch, as everyone is entitled to become a monarch. It was through John Locke’s theories that people’s eyes were opened to the reality, the fact that all of us are born free. John Locke viewed and claimed that men are naturally free and equal, versus the notion that God appointed a monarch to rule over other people. Some of the things that Locke fought for were the people’s basic rights, including the right to life, liberty, and property – these concerns became the basic foundations of laws in any particular society today (Tuckness). Looking closely at the implication of what John Locke has fought for, it is more of establishing a concrete grounding which can be used as basis of other rules and laws that you prepare. In the context of establishing a government, John Locke used the claim that men are naturally free and equal in order to justify the understanding regarding the legitimacy of a political government which is the outcome of a social contract that regards the people as the major stakeholders, and that the government will be established to ensure the stability, comfort and enjoyment of these people’s lives, liberty and property. In short, the government, though privileged to preside over the people, still rests on popular consent, and people are entitled to rebel if they see that the government is subversive of what they stand for – the protection of life, liberty and property (Tuckness). Governments, just like what we have today, exist by the consent of the people under the jurisdiction of that government. Their main purpose according to Locke is to protect these people’s rights, as well as promote public good. In relation to this, those governments who are unable to function accordingly can be resisted by the people and e replace with new governments (Blupete. com). Though nowadays it would surely undergo a very long process to replace a current government, people still have the power to pursue these measures if the need be. Locke advocated majority rule, something which is similar to the current democracy that we have today. Modern democracy as we see today can be greatly associated with what John Locke has helped establish and defended many years ago. The purpose is people empowerment, the realization of the people’s rights and fighting to preserve these rights against violators. This has led to the creation of the democratic government that we have today, and through this type of government, we live a free and equal lives, without oppression from other people, as well as injustice in the things we do. We see the democratic government not only as a ruling body in the society but also a guard that would keep watch of out precious inalienable rights as citizens of this country and as human beings. We have instated a higher ruling body to do a set of purpose, and if it doesn’t, it is our responsibility to tear it down and replace it with the ones which are more appropriate and more deserving of the position. It is not the government that runs the people, but instead, it’s the people that run the government. Works Cited: Blupete. com. â€Å"John Locke (1632-1704):The Philosopher of Freedom†. 2006. April 4 2008. . Tuckness, Alex. â€Å"Locke’s Political Philosophy†. 2005. April 4 2008. .

Economics and Ethics

The area of ethics in economics is a divisive one, over which there has been considerable debate. Ethics has many interpretations in the history of philosophy as well as in economic history. Very simply, ethics refers to an understanding of certain forms of behavior as either right or wrong. â€Å"The field of ethics, also called moral philosophy, involves systematizing, defending, and recommending concepts of right and wrong behavior.† (Ethics) However, there are many complex aspects to the understanding of ethics. An early idea of ethics was put forward by the philosophers Jeremy Bentham and John Stuart Mill in the 19th Century. They suggested that ethical action was concerned with providing â€Å"†¦ the greatest balance of good over evil.† (Ethics) On the one hand, economics is fundamentally driven in a systems and practical sense by the need to acquire profit and accumulate wealth. On the other hand there is a growing debate about ethical responsibility and integrity in the business and economic world, with respect to aspects and issues that strictly fall outsider the ambit of the pure science of economics per se. Recent controversies, such as the Enron scandal have also highlighted the issue of ethics in economics and business. This leads to a vast array of issues and questions; such as the protection of future resources and the growing debate about the reality of environmental ethics as it relates to purely economic concerns. Questions are asked such as; can there ethically be a case for unconstrained economic adventurism and profiteering without paying attention to the moral and ethical dimensions of these actions? The debate and the dilemma that business faces in terms of ethical practices and views are concisely expressed in the following quotation. While â€Å"Businesses, in some parts of the world, have become integral participants in such causes as protecting the environment and alleviating poverty from economically depressed localities†, this concern with ethics is â€Å"†¦ confronted with the problem that economists have no other way to approach reality without concentrating on questions of utility.† ( Zaratiegui J. 1999) It is this focus on utilitarianism and the profit margin central to the capitalistic mode of economic production, which brings it into conflict with other issues and views and often results in a negative ethical assessment of business and economics. Therefore many critics are of the opinion that in an ethical sense the utilitarian focus of modern capitalism should be criticized. More importantly, theorists note that, â€Å"The nature of modern economics has been substantially impoverished by the distance that has grown between economics and ethics †¦ [economics] can be more productive by paying greater and more explicit attention to the ethical considerations that shape human behaviour and judgement.† (Sen, A. 1987, p 7.) It should also be noted that this debate and the alleged dissociation between economic thought and praxis and various ethical and critical stances, is a fairly recent phenomenon. In its origins modern economics was intimately connected to ethics and ethical motivations. Sen reminds us of the contrast between the â€Å"non-ethical† feature of modern economics and its genesis as an offshoot of ethics. At the time of its inception, then, the language of economics was comprised of normative elements. Nevertheless, over time, economics came to be considered an autonomous science, and its language and value judgments become increasingly more â€Å"positive.† It is this change in economic thought and praxis and the move towards a neutral or † value free† attitude towards ethical issues, with science as the motivating example, that has essentially created the present debate. However the debate about ethical involvement and responsibilities in economics continues to vacillate from one point of view to the other. On the one hand, economists argue that economic praxis and associated analytic techniques are ethically positive in that they help to predict human social and economic growth and development in a consistent way. Economists are also quick to argue and provide examples of the way that economic strategies uplift, develop and form a common basis for world interaction and harmony. â€Å".. it is regarded by some as beneficial, enabling economists to develop analytic techniques and make rational predictions of future human behavior. â€Å"(Zaratiegui J. 1999) On the other side of the argument there are many who interpret the alleged benefits of economics rather as the promotion of profit over ethical norms and principles. However in recent years there has at least ostensibly a reassessment of the ethical parameters of economics from within the economic community. As recently as a decade ago, many companies viewed business ethics only in terms of administrative compliance with legal standards and adherence to internal rules and regulations. Today the situation is different. Attention to business ethics is on the rise across the world and many companies realize that in order to succeed, they must earn the respect and confidence of their customers. This change is still based in the praxis of customer behavior and reaction but nevertheless it does show a change towards a greater awareness of ethical responsibly ion the world. Many of the ethical debates surrounding economics revolve around the complex issue of the interactions of business and commercial concerns and bio-ethics. Bio-ethics refers to the ethical demands and requisites in the interaction between the human and the non-human environment. As such, bio-ethics is difficult to relate to or argue in purely subjective or human terms; which make it all the more difficult to understand and react to from an economic perspective. A case in point which is still under discussion is the intended use of the oil reserves in the Arctic Wildlife Refuge. At present the debate about the exploitation of the Arctic National or ANWR has been in process for 20 years. (Endless debate drains political energy) The debate has tended to centre mainly on the exploitation of a sensitive ecological area as opposed to the economic and political value for the country from a potentially rich oil supply. The divergent viewpoints are expressed in the following assessment of the situation. To generalize, people who care most about the wildlife and wilderness don't give a hoot about the oil; folks fixated on the oil think its value outweighs the wildlife and wildland concerns. The two sides are every bit as polarized and only a little less passionate than those battling over abortion rights† The National Petroleum Reserve of Alaska (NPR-A), is situated between the foothills of the Brooks Range and the Arctic coastline, and is about 120 miles from the Arctic National Wildlife Refuge (ANWR). (Rosen, Y. 2003. ) The Bureau of Land Management ( BLM) estimates the area will†Ã¢â‚¬ ¦ supplement production from the Alpine fields, which hold 429 million barrels and have a daily oil output of about 100,000 barrels.† (US OKs Commercial Drilling in Alaska Oil Reserve) From an economic point of view, the use of this oil reserve will have many positive aspects. Besides the money that would be brought into the economy instead of flowing out in oil purchases, it would have positive internal and political implication as it would obviously mean less reliance on outside oil sources. The Energy Information Agency of the Department of Energy estimates that Alaska oil production averaged 902,000 barrels of oil per day from January through August 2004, about 16 percent of total U.S. oil production during that period, most of which comes from Prudhoe Bay. Opening up even a limited area of ANWR for drilling would offer the prospect of producing from Alaska possibly 40 percent or more of the oil consumed in America. This view can be seen as supporting the idea of an ethical position in the economic exploitation of the region in that it will be for the â€Å"greater good† of the international community to reduce America's oil dependencies. The other side of the argument is that the exploitation of this region for profit will upset the delicate ecological balance and will further have a larger ecological impact. From this point of view the proposed economic actions are unethical. In essence the debate is centered on two very different world views which need an understanding of their underlying biases to be fully comprehended. Many similar points of dissention and lines of argument are formed in the ethical debate that has raged for years about animal experimentation for research. One has the argument for experimentation on the basis of ensuring human safety; while those opposed point out that this view still contravenes basic bio-ethics and the respect for life on this planet. On the one hand business and commerce stress the need to test products before public consumption and on the other hand activists state that many of these tests are simply attempts to placate the public and have no intrinsic scientific worth. Animal rights groups point out that animal experimentation is an extremely cruel endeavor. Among the many different types of animal extermination are the†Ã¢â‚¬ ¦ the toxicity and irritation testing of various consumer products, such as foodstuffs and cosmetics†¦extraction of products, and the development of drugs.† (Rollin, 1992, p. 136) One of the most criticized tests in this regard is the Draize eye irritant test. This test involves â€Å"†¦ placing a substance in the eyes of four to six rabbits and evaluating the effect.† (Thompson 1988, p15.) The results for these extremely cruel experiments are used for cautionary labels on various products such as soaps and cosmetics. One of the main arguments against commercial vivisection is that many scientists claim that there is no real scientific purpose to animal experimentation. This is a particularly the case with regard to animals which are used by pharmaceutical and chemical companies to test the toxicity of drugs and other substances, including cosmetics and household cleaners. This practice has been regularly criticized by doctors and scientists who are of the opinion that these experiments are not only unscientific but also flawed in many respects and even dangerous to human health. Countering these assertions the economists point to the many successful trials that have resulted in positive results and benefits for human beings and human health. The economic world is, as has been stated, becoming more aware of its ethical responsibilities. Some critics still see this new found ethical responsiveness in the scientific and economic communities as a reaction only to pubic opinion and customer perception. However there are also those who are more positive and who think that the economic community is becoming more aware and reacting more positively to the important ethical dimensions of their activities.