Effects of globalization on Indian society Essay

In simple terms globalization Is the process of growing interconnectedness between various parts of the world. It is a process through which diverse world is unified into a single society. Globalization touches almost all spheres of human life; social, economic, political, cultural, environmental. Economic impact: Positive Impact: 1. Trade with other countries tremendously increased. Exports and imports boomed due to opening up of trade markets. 2. Global food chain / restaurants 3. Liberalization of Indian markets for foreign players. This has increased the inflow of men, money, material, labour, technology etc from foreign countries to India. 4. Markets expanded. Many of the Indian industries have global markets and India serves as a market for many foreign companies 5. Globalization is responsible for the growth of many industries in India and especially software industry. 6. Growth of MNC’s 7. Globalization has given nations greater access to global markets, technology, financial resources and quality services and skilled human resources. 8. Improvement in and greater access to quality goods and services and an exponential increase in the volume of trade. 9. Access to global capital resources via the stock market and international debt depending on the economic potential of nations and their markets. 10. Access to technologies depending on the nations responsiveness to respect to protection of IPR and the responsible usage of technologies. 11. Access to the world markets to the skilled human resources from nations with inherent intellectual and technical capabilities (the outsourcing of IT, Pharma, BPO and KPO work). 12. Increase in exports of goods and services in which nations have their respective competencies. 13. Increased the purchasing capability of the nation through the creation of a sizeable middle class which is hungry for quality goods and services while there coexists a large poor class whose time is yet to come. 14. Shifting of labour force from agricultural sector to industrial sector and thus reducing disguised employment in agricultural sector 15. High quality and low cost products  flooded Indian markets increasing consumers’ choices. 16. Growth of organized retail chain. 17. Just few years back in India land phone was a prestige symbol but now mobiles can be seen in the hands of many rich and poor people. 18. In agricultural sector new varieties of farm equipment, new agricultural practices, applications of biotechnology like drought resistant, pest resistant varieties etc are indirectly due to globalization. 19. Indian companies adopting international standards in the areas of accounting, inventory management, Human resource, marketing, customer relationship management practices etc. 20. Increase in flow of investments from developed countries to developing countries, which can be used for economic reconstruction. 21. India gained highly from the LPG model as its GDP increased to 9.7% in 2007-2008. 22. The free flow of Information both general and commercial. Negative impact: 1. Rich poor divide increased due to unequal distribution of wealth 2. Ethical responsibility of business diminished 3. Tribes are unable to integrate in the era of globalization and they are facing many problems due to industrial expansion like land alienation, loss of livelihood, displacement etc 4. High growth but problem of unemployment 5. Price hike and inflation of every daily usable commodities 6. Native traditional industries in India got badly affected as they are unable to compete with foreign players. 7. Government driven public sector units are in sale due to increased privatization 8. Growth in different sectors became uneven. 9. More inflow of money has aggravated the problem of corruption. Cultural impact: 1. Language: Positive impact: a. Many people in India became bilingual or multilingual than before. b. Prominence of English as a language increased and importance of many regional languages decreased. Negative impact: a. Some languages got extinct. b. Traditional knowledge that is expressed in the languages that are becoming extinct is getting unutilized. Many patents are filed internationally which is already mentioned in our traditional literature. 2. Music, dance, entertainment: Positive impact: a. Many foreign musical instruments flooded Indian market. b. Foreign movies became widely available in Indian markets. c. Indian classical music has gained worldwide recognition d. Fusing western music with Indian traditional music is encouraged among musicians. e. Many foreigners are learning Indian dance forms like Bharatanatyam while many Indians are getting attracted to foreign dance forms like salsa, hip-hop etc. Negative impact: a. The penetration of global pop music has marginalized the traditional Indian music. b. There is an increase in tendency of playing western songs and pop music during marriage functions, birthday celebrations, engagements etc. c. Folk and tribal music is nearly extinct. Government is taking steps to preserve it. d. One can see in India that inhibitions have been diluted because of the advent of media and the medium of entertainment. This has also naturally had some affect on the old cultural values with the focus now being on consumerism and success. 3. Food and Dress: Positive impact: a. Many dresses of foreign brands are available in Indian local markets. Dressing style, costumes, etc of Indians changed due to globalization b. Male and female dresses distinction is getting blurred. c. Food and dress habits are internationalized d. Pizzas, burgers, Chinese foods, and other western foods have become quite popular. e. Fusion of Indo western clothing is the latest trend. Ex: wearing western jeans and Indian pyjama or kurtha. f. A distinct change in life-styles with rapid adaptation to worldwide trends Negative impact: a. Our traditional food and dress habits are getting changed generation after generation b. Due to intake of western and fast foods there is a threat of non communicable diseases like obesity, hyper tension, cardio vascular diseases etc. 4. Religion: Positive impact: a. India is birth place of different religions like Hinduism, Buddhism, Jainism, Sikhism etc. Due to globalization new religions like Christianity entered India and have multi dimensional impact on the culture of India. Negative impact: a. Conversions to Christianity increased by the financial and institutional support of western players. 5. Festivals: Positive impact: a. Western festivals like valantines day, friendship day etc are spreading across India. Negative impact: a. Importance of our traditional native festivals getting decreased. b. Sacred component in our religious festivals is getting decreased and there is increase of secular component in the form of social gatherings during festivals. 6. There is increase in interaction between people of different countries leading to admixture of cultures. 7. Nations have built greater awareness of themselves and the other countries and cultures of the world. India is not an exception Social impact: 1. Marriage: Positive impact: a. Love marriages increased and thus parents preference for children wishes increased. b. Inter religious and inter caste marriages increased and thus caste rigidities and inequalities getting reduced. Negative impact: a. Divorce rate increased b. Marriage changed from religious sacrament to civil contract. c. Unmarried boys and girls are sharing same apartment and staying away from their parents. Thus without marriage live-in relationships are happening in India 2. Family: Positive impact: a. Previously all the members of the family did the same type of work but after globalization the same family has adapted different types of work depending upon availability and their economic benefits. b. As husband and wife are employed in most of the cases the child care is taken by day care centers or crà ¨ches. c. Family controls on children are getting weekend and children wishes are seldom ignored d. Social gatherings are getting increased than religious gatherings. Negative impact: a. Nuclear families increased at the expense of joint families b. Family ceased to be a unit of production. c. The voice and decision of elders in the family matters decreased. 3. Education: Positive impact: a. Foreign universities tie up with Indian universities increased. b. Literacy rate increased c. Scientific and technological innovations have made life comfortable, pleasant and enjoyable. d. Extension of internet facilities to rural areas and thus increasing awareness in rural youth. e. Increased access to better and qualitative education. f. The choices for the children increased as there are many streams in education to pursue. g. Extensive use of information communication technology. Negative impact: a. Education became commercialized b. Pressure on children increased by parents, teachers, peers to get succeed in education which is essential to compete in this globalized world c. Education is measured in the number of degrees a person holds rather than the useful knowledge he gained. 4. Society: Positive impact: a. People shifting from unorganized sector to organized sector b. Distinction between polluting and non polluting castes getting weakened. c. Social taboos are getting weakened d. Caste based occupations are getting converted to merit based occupations. Negative impact: a. Rural, urban divide increased b. Migration of people from rural areas to urban areas due to urbanization c. Due to extreme mechanization demand for manual labour is decreasing day by day. This leads to increase in unemployment Political impact: Positive impact: a. Awareness about the right to vote increased b. Opinion forming in many political issues increased with the help of ICT. c. International obligations creating pressures on domestic political system. d. India say in international matters increased e. Financial support from international organizations to India became possible due to globalization Negative impact: a. Politico-bureaucracy-industrial nexus increased which is affecting badly the common man b. Criminalization of politics and politicization of criminals increased c. Organized crime with political support increased Environmental impact: Positive impact: a. Awareness and concern about environmental problems increased b. Technology and financial support from international organizations to combat climate change Negative impact: a. Excessive emission of green house gases which leads to climate change and global warming b. Land degradation due to excessive use of chemical fertilizers c. Degradation of ozone layer due to release of ozone depleting substances like chloro floro carbons (CFCs) d. Excessive mining and deforestation caused displacement of millions of people without proper rehabilitation and resettlement provisions. References: 1. www.daldrup.org/University 2. www.cpim.org/content/globalisation-impact-indian-society‎ 3. http://www.academia.edu/964379/GLOBALISATION_AND_ITS_POSITIVE_IMPACT_ON_INDIAN_AGRICULTURE V.V.N Pavan Kumar

Block Scheduling vs Periods Essay

A small debate has always been discussed when talking about block scheduling and traditional class periods. Some people like the longer classes while others prefer the traditional six shorter class periods. Everyone has their own opinions about block scheduling. Block scheduling can be really helpful to high school students in many ways. Although, block scheduling is a longer time spent in one class, it should be mandatory in all high schools rather than traditional class periods. Block Scheduling is more like college classes, rather than traditional six period classes. There are many ways to schedule with using the block method. One option is the alternating block schedule. Classes meet each day for ninety minutes. Four classes meet on A days, and four meet on B days, with days of the week alternating as A or B. The second method is the semester block scheduling. This allows students to attend just four classes for ninety minutes each day for an entire semester. The following semester students enroll in another four classes. These two methods are the most like college classes. It is good for high school students to experience and get used to the longer time spent in classes to prepare them for college. Block scheduling allows students to take more subjects and cover more material in one class. High school students need to prepare for the future and get used to the way college classes are organized and with the block scheduling they are sure to do that. With the six traditional class periods students only have forty-five to sixty minutes in each class before the bell signals for the next. By the traditional six classes they stay in the same subject all year around. Block scheduling gives two more extra classes to take because of the extra time (Schroth). Many high school students are involved in extracurricular activities at the school they attend. By using the block method, teachers can get most of everything they had planned finished in one class allowing extra time to do class work and students will not have as much homework. Only having four classes cut down on homework rather than six classes all year around. Block scheduling allows teachers to teach less students and can have relationships and get to know each student very well. Students can get direct help from the instructor and can learn more easily (Ediger). This is good for at risk students because it gives them a chance to just focus on a few subjects each semester rather than all year long. In some schools, block scheduling allows students to take dual enrollment at their local community college. By doing this, high school students can get a head start on college classes if they are able (Childers). Many opportunities to help academics can come from the block scheduling method. Block Scheduling allows students who fail a subject the first semester, to retake it the second semester. Many schools have seen test scores increase (Wilson). While students have more time to do daily work instead of homework, teachers have more time for their planning period. It allows more time for more in class projects and individual work between students and the instructor. Many teachers have said that with block scheduling, more discipline problems have decreased. Because traditional scheduling requires changing classes six times a day, students get more chances to start trouble between those classes. With block scheduling you’re only changing three times and there is a less chance of problems between classes (Wilson). Block scheduling does have its disadvantages just like traditional scheduling. Since students will not be going to class daily, some subjects might require drill and practice to stay refreshed on a student’s mind (Schroth). With classes being ninety minutes, students might get tired or bored with the subject they are in and ready to go to the next class. A bad instructor could cause students to not want to go to class for that long of a time. Block scheduling advantages outweighs its disadvantage. It prepares high school students for college. College classes are completely different than high school. Teachers have more time to prepare, teach and individually help each student in class. Discipline issues have decreased because of the less time spent in the hallways. The block method is great for all high schools and preparing students for the future.

A study of Nur’s role in the Thief and the Dogs

A study of Nur’s role in the Thief and the Dogs Essay Women take on various roles in different societies and literature. In conservative societies, a woman’s role is generally restricted because they are only allotted with menial housework. On the other hand, liberal societies allow more freedom for women to engage in society. In The Thief and the Dogs by Naguib Mahfouz, Nur’s role is closely associated with the stereotype of prostitutes and women in Arab society. She abolishes the stereotypical image of prostitutes by arguing that prostitution is simply an occupation, and at the same time represents exploited women in Arabian societies. Mahfouz defeats stereotypes by presenting prostitution simply as an ordinary profession. When Said queries Nur whether she had been drinking, she responds directly and almost flippantly, â€Å"I have to; it’s part of my job. I’m going to take a bath. Here are your newspapers† (96). She is completely at ease discussing her profession, and is not at all troubled that her beloved knows about this part of her life. Through this dialogue, Mahfouz argues that prostitution is simply another way for an underprivileged person to make a living and gain financial freedom. Nur’s actions iterates that drinking and having sex should not be viewed as shameful or dishonorable because â€Å"it is part of life† (96). The action of Nur going to ‘take a bath’ immediately after she returns home symbolizes that the occupation is manageable just like all others (96). All professions in the world has occupational diseases and setbacks. Thus Mahfouz is simply saying that bathing is a part of Nur’s occupation and a way for Nur to deal with its vocational setbacks (96). Other character’s impartial view towards prostitutes allow Nur to gain emotional independence. For instance, when Said finds Nur vomiting after being attacked by her clients, he does not condemn her profession; instead he â€Å"angrily† regards her clients as â€Å"dogs,† and says â€Å"It is not fault at all† (108). Said does not deem Nur as a dirty and contemptible woman who provides pleasure for other men, but condemns the customers who abused her. Mahfouz uses strong words such as â€Å"dogs†,a word often used to describe enemies or the worthless, to address the clients because they practically stole sex from Nur (108). In this case, women alone are not to be criticized, since prostitution also involves clients who use money to debase themselves and wield control over women. Nur’s innocence is emphasized when Said says â€Å"It’s not fault at all† in an â€Å"angry† tone (108). Said is able to comfort Nur and make h er understand that she has done no wrong. Mahfouz creates Nur’s image as an Egyptian prostitute who admits her profession with no shame to encourage the readers to question the common stereotypes on prostitutes. Prostitution in The Thief and the Dogs is neither disparaged nor acclaimed. However, Mahfouz abolishes the stereotypes against prostitutes through Nur, who also represents symbolizes Egyptian women. Nur also represents the inferiority of women in Arab society as she is abused materially. Even when Said first meets Nur, he can only think of taking advantage of her. While Said clearly respects and cares for Tarzan, he seeks to financially benefit from Nur as he tells her that what he â€Å"really needs is a car† (62). Instead of asking Tarzan to provide a car for him, Said asks Nur to help him steal one because he reckons her as inferior, treating her as bait in his crime. Said’s abuse of Nur represents the general attitude of Arabian men towards women. Mahfouz uses the word ‘needs’ to relay the idea to readers that women are subordinate to men and thus can be demanded to provide something for their superiors (62). In an Arabic society, this word, ‘need,’ is supposed to act as a cue for the female character to work to satisfy the man. READ: TV Violence and Children EssayIn addition, Nur is not only materially abused, but also taken advantage of emotionally. Said takes Nur’s love for granted and expresses none back to her. Mahfouz describes Nur’s affection towards Said, that â€Å" had been like a nightingale singing to the rock, a breeze caressing sharp pointed spikes† (60). Mahfouz uses these imageries to give a euphonic effect to the reader and a clear view about the relationship between the two. Nur is depicted as the â€Å"nightingale† and the ‘breeze’ (60). Hence, the author uses these images to evoke a positive impression of Nur: as sweet as a nightingale and as pleasant as a breeze. On the other hand, Said is described as â€Å"rock† and â€Å"sharp pointed spikes† (60). Thus, the author uses these images to set up a negative impression about Said as some cold person who rejects the nightingale, Nur, and inflicts pain on her with his ‘spikes†™ (60). The emotions of Nur is accepted by Said as he wishes to satiate his need for comfort. However, he gives none back as he is like the rock and sees Nur simply as some subordinate being he could leech off emotional comfort from. The â€Å"rock† is an inanimate object, a static thing that does is inelastic to external influences (60). In another instance, Nur’s emotions are also abused when she shows her true feelings towards Said and mentions, â€Å"you are dearer to me than my own life and breath, in my entire life I have never known happiness except in your arms. But you’d rather destroy yourself than love me† (129). Nur is devoted to Said and is willing to do anything for him. She finds being in ‘ arms’ the best thing in her life (129). However, Said betrays her feelings and shatters her dream of living happily ever after in a distant place. He only wishes to satiate his desires and ambitions for revenge, but ends up murdering innocent men, and thus ‘destroys ’ (129). Mahfouz further highlights the amount of love Nur feels towards Said as she mentions ‘you are dearer to me than my own life and breath’ (129). This allows the readers to feel that Nur’s love was not shallow, but truly devoted. By using ‘life’ and ‘breath,â€℠¢ Mahfouz successfully conveys the idea that to Nur, Said is like a primary necessity (129). Through the portrayal of a rejection by Said of a true love, Mahfouz successfully passes on the idea that women were viewed as inferior to men and women’s emotions were leeched off by men. Although through the profession as a prostitute, Nur is able to find financial and emotional autonomy, she is constantly exploited by men and thus represents Arab women. The actions of using Nur indeed reiterates that Nur is a representation of general Arab women of Mahfouz’s days when they were viewed as subordinate to men. Nur certainly holds a very important role in The Thief and the Dogs through reputing the customs on prostitutes and representing women in Arab society. This is evident through her interactions with others as she defines prostitution simply as another job while being exploited by men throughout her career. The stereotypes held on prostitutes and Arab women are still persistent in the modern society. Mahfouz’s depiction of Nur, however, makes the readers curious whether such commonly held views will be eradicated in the future with the influence of novels such as The Thief and the Dogs.

Infection among Burn Patients Research Paper Example | Topics and Well Written Essays - 2000 words

Infection among Burn Patients - Research Paper Example In general 75% of the fatalities are usually seen at the scene of the incident itself, and for those reaching medical care, infection is the major cause of mortality and illness (Murray, 2011). Since majority of the skin is exposed to the elements and to the atmosphere, protecting it from infection and bacteria is a major challenge. For those with burn injuries, this challenge is even bigger. The type and quantity of microorganisms which colonize the burn wounds are also known to affect the patient’s future risk for would infection. The pathogens which infect the wound are mostly gram-positive bacteria which include methicillin-resistant Staphylococcus aureus (MRSA) and gram-negative bacteria Acinetobacter baumannii-calcoaceticus complex, Pseudomonas aeruginosa and Klebsiella species (Murray, 2011). These infective agents often increase the resistance of a person to various antimicrobials. Moreover, burns are usually infected with fungus infective agents, making the infection process on burn wounds even more difficult to prevent and manage. In recent years, the survival rates and the infection rates for infection among burn patients have improved with the introduction of modern medical practices. These medical practices now include advances in fluid resuscitation, nutritional support, pulmonary care, burn wound care, and infection control (Church, et.al., 2006). Despite these improvements, there are still improvements which can be made to the practice. (Murray, 2011).  

Case study on MABUCHI MOTORS CO. LTD Essay Example | Topics and Well Written Essays - 750 words

Case study on MABUCHI MOTORS CO. LTD - Essay Example (Mabuchi Motor Co., Ltd.). The strategic management of Mabuchi Motor Co. Ltd., has come in for acclaim for its use of innovation in products, processes, and management techniques that has made the company a formidable business enterprise. This was rewarded by, Mabuchi Motor Company becoming one of the first four Japanese companies to receive the Porter Prize in 2002. (New Porter Prize Awarded in Japan). Mabuchi Motor Co. Ltd. has concentrated on market and production location diversification, while hanging on to its limited product range strategy. (Goerzen, A., 1998). This strategy of Mabuchi, enables it to concentrate all its efforts into its single product, and consolidate these efforts to give it opportunities into diverse markets. This also signifies the strong confidence of Mabuchi in its product enhancement to meet new challenges in the market for small electric motors. The disadvantage of a single product portfolio is that it makes the creation of adequate demand for the product a very significant factor. Mabuchi has turned this disadvantage into an opportunity, as it strives to meet customer requirements within its narrow product base. The Germany Company, Braun is the largest manufacturers of electric razors, and approached Mabuchi with an attractive proposal to enlarge its product base by developing an electric motor without a steel core. Mabuchi refused this offer, but t ook this up as challenge, and convinced Braun on the true capabilities of its steel-core electric motors, and developed a motor for Braun at roughly one-tenth the price of the motor that was in use at that time by Braun. This endeavor of Mabuchi has made it the sole supplier of small electric motors to Braun. The ability of Mabuchi to develop electric motors for diverse application provides it with a window of opportunity for finding new markets. (Hiroaki, N.). The prices of the products of Mabuchi are extremely competitive. This is because of

Societys perception of women in the film Raise the Red Lantern and Joy Essay

Societys perception of women in the film Raise the Red Lantern and Joy Luck Club - Essay Example "Raise the Red Lantern" is not an exception to this. The film reveals of China's culture on marital arrangement way back 1920s. This Asian country has made a unique identity in connection with their outstanding obedience to customs and regulations. Strict conformance to traditions is really important in China that time as what the film illustrates. With the culture they have, their women be likely to be submissive in the society more than any other women in the world. It is in their belief the acceptance of polygamous marriage arrangement. This kind of culture allows men to marry as many wives as they want as long as that the man can provide all the needs of his big family. The story revolves around this type of marital arrangement. An old wealthy man, although already having three wives, then chose a fourth wife, in whom the story mostly rotates. The fourth chosen wife is Songlian, a 19-year-old beautiful college student. Still young, she has many dreams yet to be fulfilled but all those were gone when she had decided to marry the wealthy landlord after being forced to by her stepmother. This formerly independent woman enters this great mansion of a rich man that forbade her of any independent acts anymore. She has to stay in her own quarter, have been provided a servant and many rituals to follow or perform every day. Worst of all, she is forced into rivalry with the other wives. Aside from that, she got a very treacherous servant who wished to marry the rich man and this later on gave a sturdy headache to her. As the film lay bare, all the four wives must fight for the crown. They are to struggle to win the "masters'" attention. "Master" pertains to their husbands. It is customary to these Chinese women to call their husbands "master". They do this struggle to give their master the pleasant evening he wants for the day. It is this masters' custom to choose a wife for a night where he would gain his sexual satisfaction. And it is the women's duty to do their very best in order for them to be the chosen one every night. In doing so, they will gain the masters favor and have the incentive to rule the rest the household the rest of the day. The master has to show off his decision by lighting a red lantern going to the door of the lucky wife for the night. It must have been a lonely environment for these women, trapped inside their master's cage waiting to be picked up for a night. It looks like their nothing but similar to a whore. They obey everything their master wants for them. It is no lon ger her who has control over her self. Yet, as what the film reveals, it is a woman's glory to be the lady of the night. It means a step higher than the rest of the wives. It is exultation on their part to please the master and always gain his favor. "Raise the Red Lantern" seems to blurt out the role of women in the society as submissive to man's desire. Women are nothing but for quarters. They do not have a place in the workplace. She's a do-no-better ignorant than staying at home and pleasing his husband the master. All she has to do is to execute her expertise in whatever field her master commands to gain herself honor as a pleasant wife. And mind you, she must do it with all of her best. Asian women are presented in the film

JOHN CALVINS AND HIS TRINITARIAN PERSPECTIVE Research Paper

JOHN CALVINS AND HIS TRINITARIAN PERSPECTIVE - Research Paper Example The main beliefs and ideas of John Calvin concerning the Holy Trinity form an exposition that explains each of the persons with the provisions of the good will to human beings. Therefore, God is the originator, the son as a wise director and the spirit as an executor who is powerful in regard to the characteristics of the Holy Trinity. John Calvin believes that the ideas creates or gives awareness whereby there is equality of the roles of the three persons in this case God1. Furthermore, the essence of a divine mode naturally subjects and rebukes the speculations concerning the spirituality of the people2. These facts on the Holy Trinity give a vigor description whereby the processes gave to the idea of the existence of God. The teaching o this idea have also developed a stance to acquire direct elaboration in the attraction of learning the main themes on the doctrine in the Calvin’s Trinity. In most of the cases these view captures the eye that primarily suggest that the concept of God is philosophy rather than devotion. These; however, bring out the attention that focuses on the art of worship and divine unity. Calvin’s term of cooperation with the three persons under the name who is God brings out the salvation and understanding in relation to being eternal3. In accordance to the natural world, the position of the Holy Trinity interprets actions that the scriptures endorse in the ancient creed. The Catholic Church is the main attack on the various views on the Holy Trinity by John Calvin. Calvin reasons are that there are specialties put forth by the catholic in a revolutionary modern way that seem not to have meaning to the Christianity world. The description particularly gives unnecessary declaration whereby the three person’s treatment is on different paths. In the scripture Mathew 28:16-20 the great commission of Jesus to his disciples brings out the Holy Trinity views whereby the disciples are commanded to

Organizational Innovation and Change - Critical Thinking Mod 1 Essay

Organizational Innovation and Change - Critical Thinking Mod 1 - Essay Example Likewise, there was a need to assess internal resources (including financial support, as well as coordinated time and effort of all members) to make the transferring to another home, possible. In addition, not only was there a need to transfer to a new local community, but to search for the nearby educational institutions, as well as employment opportunities to support and sustain a successful change. Personal Experience as a Story of Change Just like the stories of change presented by authors Palmer, Dunford, & Akin (2009), the story of moving made it a story of change due to the presence of both internal and external factors that contribute to the need to change. Likewise, after establishing the need, the strategies were aptly designed to ensure that the actual change (moving) is implemented within a defined time frame, and with little resistance, as possible. Of course, all members of the family need to be duly informed, and as much as possible, any resistance to the required chan ge had to be effectively addressed and managed through strategies that included open communication, proposing opportunities for growth, and emphasizing that the future would be more productive and rewarding with the proposed change. Similarities with Change Lessons From Hewlett- Packard change story, the following elements were similarly present in one’s personal story of change: (1) that â€Å"different interests need to be recognized and addressed† (Palmer, Dunford, & Akin, 2009, p. 9); (2) that the interests apparently provoked different reactions to the change process: from resistance, anxiety, anticipation, relief, among others; (3) that skills of negotiation and persuasion are needed in the process; (4) that â€Å"communicating change often entails providing a vision of the future that is compelling† (Palmer, Dunford, & Akin, 2009, p. 9); and (5) that pressures or factors that led to change come from both internal and external sources. Moving to another re sidence share these similarities in terms of having identified that internal and external factors impinge on the current status and necessitate moving. For instance, the change in employment or assignment to another state was the primary reason for moving and that retaining the current residence would have been unproductive and irrational. From the IBM change story, one noted that there were similarities shared in terms of having recognized: (1) that â€Å"change requires a marshaling of appropriate resources† (Palmer, Dunford, & Akin, 2009, p. 9). Likewise, from the change story of Kodak, one shared the same experience in terms of manifesting that â€Å"change involves risk and uncertainty† and that its consequences could not always be predicted (Palmer, Dunford, & Akin, 2009, p. 9). There were similarities in one’s personal change story after identifying that current financial resources need to be evaluated to assess the feasibility for moving and to determine if the potential income related to the new employment of one’s father could aptly support the cost of living in the new state. Of course, there were risks and uncertainties that include being immersed in a new environment and being potentially exposed to unfamiliar people with diverse cultural backgrounds. The elements that were utterly not applicable in one’

Impact Youth Subcultural Lifestyles and Values Essay

Impact Youth Subcultural Lifestyles and Values - Essay Example The essay "Impact Youth Subcultural Lifestyles and Values" explores how fashion and music influence on the lifestyles and values. Both fashion and music suffered similar fate. Fashion seemed inclined to consider designer labels more important to wearability of the clothes. In music, post-modernism allowed the â€Å"collage, pastiche and quotation,† a hodgepodge way of creating music erasing the distinction between music genres. But superficial or not, music and fashion would definitely affect the cultural language and dynamics of contemporary youth. Mcrobbie (1994) wrote about the power and influence of music on fashion of youth but the result was contrary to what many would perceive as sexist. Shabba Ranks, a raggae / pop music crossover musician created a rage called Ragga girls (p.183). This created a sensation in the 1990’s when Ragga girls would be taken up not only by black girls but Asians and Caucasians. Along with the music was a distinct fashion sense that sep arated Ragga girls from the mainstream. The Ragga girls wore the hair â€Å"scraped back tightly into buns, wearing gold jewellery, trainers, leggings and fake-fur winter coats†. Examining the content of the song, many observed that the lyrics include sexist and homophobic contexts. The cultural interpretation of the Ragga girls, however did not conform to what was observed. Instead, an alternative value on the power of the female sex and pleasure emerged. The dance routines that go with the Shabba Ranks music was considered explicit. also considered sexually explicit and bordering on the obscene. However, Mcrobbie (1994) would provide another explanation for the behaviour. The girls were merely expressing "the rhetoric of a proud young female sexuality. " It is "combined with the sheer physical enjoyment of dance, working together to produce a euphoria of pleasure and of power" (p.184). The above example presented evidence that subculture of fashion and music was a departure from the frame of cultural contexts and values. Fashion and Music: A Postmodern Construct The youth category on cultural and sociological research lacks appropriate definition and orientation. The classification of youth can differ from culture to culture. For example, preadolescent individuals and people in their 30's and 40's may comprise the youth sector of a given cultural context. The distinction may also be derived from chronology or cultural position (Bucholtz 2002,p.526). The youth represents a segment of society that many sociologists and anthropologists consider as innovative. The youth may work inside or outside the system depending on the situation. Traditional views consider the youth subculture were consequences of the working-class consciousness where emergent subculture was "authentic and in the first instance at least uncontaminated by an avaricious commercial culture" (Mcrobbie 1994, p.179). The presumption is no longer applicable as today's complex social systems of mass media, commercial culture and the state (p.179). The proliferation of fashion and music purported to be rebellious expression of the youth against control and authority would in fact be more congruent with Michle Barrett's observation that youth subculture is a product of "turn[ing] to culture and the 'processes of symbolization'" (p.179)

Finance - write up a executive summary and recommendation Essay

Finance - write up a executive summary and recommendation - Essay Example These expenses are related to the land bought to expand business in future. The dilemma with the management of the company is what should be done with this land. They have two options; first option is that they can sell off this land for an impressive amount of $235,000 and also save the increasing annual maintenance expenses @3% which is $16,000 at the moment. The second option with the management is to use this land in expanding the existing business by setting up a new spray booth and workshop. This report provides an analysis and evaluation of these two options in hand for FBSR. We have used the capital budgeting tools such as Net present value (NPV), operating cash flow and sensitivity analysis in order to determine the feasibility of the options available at hand. The relevant calculations, with respect to each of the analysis technique used, can be found in the appendices. Our analysis is all depending on John’s assumptions which means our belief is the probability of a ssumption would range from NPV various. Within this analysis of the insurance project of the business, operation cash flow and profitability is the decide the feasibility of business. it’s the company’s choice of whether or not to take the insurance project in the business. Meanwhile, 10% increase or decrease in revenue and wages & maintenance fee of is under concern.

Compare and contrast the financial systems of two different countries. Use an institutional approach to describe the system. Comment on the impact on, and response to the GFC in each country Essay Example for Free

Compare and contrast the financial systems of two different countries. Use an institutional approach to describe the system. Comment on the impact on, and response to the GFC in each country Essay 1.0 Introduction A financial system inquires for efficient allocation of resources among the surplus and deficit units (Viney 2009) as such it encourages more savings where funds are provided for investor to invest and also ease the transactions for goods and services (Viney 2009). There are three main components in the financial systems which are the financial institutions, financial instruments and financial markets. All three types of financial system each carry different function, roles and regulations. However, financial institutions will be mainly focus in this research essay. Global Financial Crisis (GFC), also known as the ‘great recession’ occurs in the year of approximately 2007-08. GFC has caused a several impact on the economy which leads to a several collapse of the financial institutions. For instance, the collapse of Lehman Brothers, one of the major investment banks in US (Australia Bureau of Statistics 2010). Thus, the objective of this essay is to examine both financial system of the chosen countries which are United States and Australia, also the impacts and responses on the GFC in both of the chosen countries. 2.0 Compare and Contrast both Financial Systems 2.1 Central Bank The central bank of the United States (U.S.) is known as Federal Reserve System (FED) whereas the central bank of Australia is known as the Reserve Bank of Australia (RBA). The Federal Reserve System’s structure consist of the Board of Governors which are duly appointed by the president, the Federal Open Market Committee (FOMC), and 12 regional Federal Reserve Banks located throughout the major states in the country (The Federal Reserve Board 2003). Banking in U.S. is regulated at both federal and state level. Unlike U.S., Australia has only one central bank which is the Reserve Bank of Australia. However, both central banks are independent within their government (Reserve Bank of Australia 2001) whereby for FED, the monetary policies decisions do not have to go through the President’s authorization, and for RBA, they have statutory authority established by an act of parliament which grants them  specific powers and obligations to carry out necessary policies (Reserve Bank of Australia 2001). On the other hand, RBA has two board, which are the reserve bank board and payment systems board (Reserve Bank of Australia 2001). The reserve bank board is responsible for monetary and banking policy whereas the payment systems board is responsible for controlling risk in the financial system, promoting the efficiency of the payments system, and promoting competition in the market for payment services, consistent with the overall stability of the financial system (Reserve Bank of Australia 2001). The role of FED is to conduct the country’s monetary policy, which includes full employment, stable prices and moderate long term interest rates as stated in the Federal Reserve Act (Board of Governors of the Federal Reserve System 2008). Furthermore, they maintain the stability of the financial system, supervise and regulate banking institutions, provide financial services to depository institutions, and foreign official institutions. FOMC will determine the cost and availability of money and credit in the country’s economy by affecting the discount rate, reserve requirements and controlling the open market operations (Board of Governors of the Federal Reserve System 2012). Likewise, the role of RBA is to conduct monetary policy as well, which includes the maintenance of price stability, full employment and the economic prosperity and welfare of the Australian citizens (Reserve Bank of Australia 2001). Besides that, they also set the cash rate to meet a medium term inflation target (Reserve Bank of Australia 2001). Moreover, RBA must maintain a strong financial system and efficient payments system and the issuing of the nation’s bank notes. Selected banking services are provided to the Australian government, agencies, official institutions, and a number of overseas central banks (Reserve Bank of Australia 2001). 2.2 Commercial Bank Commercial banks in the U.S. are quite similar to those of Australia whereby their main role is to act as a financial intermediary by channeling funds from agents who deposit money and lenders who needs fund and wants to borrow. These agents and lenders include households, businesses, governments and foreigners. Australia offer products and services which include balance sheet transactions and off-balance-sheet transactions (Viney 2009). For balance sheet transaction, the first purpose is to loan activity to match the available amount of deposits that they received from customers. This activity is known as assets management (Viney 2009). The second purpose is to manage their sources of funds in order to ensure that they have sufficient amount of funds available to meet the loan demand or any other form of commitments. This activity is known as liabilities management (Viney 2009). For off-balance-sheet transactions, it includes a substantial volume of business that is not recorded either an asset or liability on their balance sheet. In comparison, U.S. obtains their funds (liabilities) by issuing deposits, checking deposits, time deposits, saving deposits (Samolyk 2004). For their use of funds (assets), it includes making commercial, consumer, and mortgage loans, and by buying U.S. government and municipal bonds (Samolyk 2004). Therefore, commercial banks play an important role in funding business borrowers. The percentage of non-financial business borrowing that commercial banks fund on their balance sheets has not declined remarkably in the past five decades or so. The commercial banks in U.S. provide trade financing, foreign exchange, corporate finances and miscellaneous banking services which include currency specified credit cards, corporate checking accounts and lock boxes (Ireland n.d.). Moreover, the existence of commercial banks made reliable transfer of funds between different countries all over the world possible. Furthermore, the distribution of valuable economic and business information among clients around the world is made possible as well (Samolyk 2004). Similarly, there are basically two functions of a commercial bank in Australia. The primary functions are obviously to accept deposits from individuals, and grant loans and advances for personal or corporate purposes. The secondary functions consists of collecting and supplying business information, providing reports on the credit worthiness of customers, standing guarantee on behalf of its customers for making payments for the purchase of goods, vehicles, machinery, and so on. Besides that, they also provide customers with foreign exchange facilities; and they also provide safe deposits vaults or lockers for valuables, important documents and securities. In a nutshell, for both countries, there are several similarities in the roles of commercial banks. Commercial banks promote capital formation whereby they accept deposits from individuals and businesses, whereby these deposits are then made available to the businesses which will make use of them for industrious purposes in the country (Ireland n.d.). Moreover, they also provide short and medium term loans for entrepreneurs to invest in new enterprises or businesses. Furthermore, they also promote trade and industry since they offer the use of bank draft, bill of exchange, check, credit cards and letters of credit. In one way or another, they also influence the level of economic activity by influencing the rate of interest and the availability of credit in the market. Most importantly, they implement the monetary policy proposed by FED or RBA to bring about price stability, full employment and promote economic growth within the country. There are several sources of funds for these commercial banks. The main source would of course be from the current account deposits. However, they do have other sources as well such as demand deposits, term deposits, negotiable certificates of deposits, bills acceptance liabilities, foreign currency liabilities, loan capital and shareholders’ equity. 2.3 Non-bank Financial Institutions 2.3.1 Depository Financial Institution Depository institutions (DPI) act as a financial intermediary similar to a commercial bank, whereby its main task is to accept deposits from surplus units and then issue loans to the deficit units in the financial system (Viney 2009). The main regulator for Australia is Australia Prudential Regulation Authority (APRA) whereas for U.S. is the Federal Deposit Insurance Corporation (FDIC). As for U.S., there are about 9, 000 functional depository financial institutions in the U.S. They operate through 92, 000 branch offices located in different states (Finance Maps of World 2011). Their role is to set a benchmark for DPI in the ground of  commercial banking. The funds that are collected is used to meet the credit need of others (Finance Maps of World 2011). On the other hand, Australia’s DPI consists of three main institutions which are banks, building societies and credit unions (Reserve Bank of Australia 2001). There are a total of 171 institutions of which 55 are banks, 11 are building societies and 105 are credit unions (Reserve Bank of Australia 2001). 2.3.2 Investment banks and Merchant banks Investment banks and merchant banks primary objective is to collect funds and invest them in the market to achieve specific goals set for different types of investments (Viney 2009). There are generally two types of investment companies which are open-end or closed-end mutual funds. Open-end funds will accept new investment and trade in old ones, whereas for closed-end funds they only accept funds once and then do not take in any additional new funds. Investment companies have recently become more popular among U.S. and Australia, and have managed trillions of dollars. As for U.S. investment banks specialize in facilitating financial transactions rather than just providing finance. They have a good reputation as a financial innovator since their responsibilities includes the improvement of new financial products and services which must meet the ever changing needs of clients (Kumar, Chuppe Perttunen 1997). In contrast, investment banks and merchant banks in Australia are not considered an authorized bank but often referred to as money market corporations (Viney 2009). They do not have a depositor base to include in their assets. Therefore, they raise funds through the issues of securities from the international money and capital markets (Viney 2009). 2.3.3 Contractual savings institutions Contractual saving institutions offer contract that specify, in return for periodic payments to the institutions, and the institutions will make payments to the contract holders if any specified event occurs (Viney 2009). They include general insurance companies and superannuation funds. As for U.S., their insurance companies raise money mainly from the issuance of insurance policies and collecting annual premiums. Some might also borrow from the dept capital markets as an alternative source of funds. For superannuation funds, or more popularly known as pension funds in the U.S., they are funded by the deductions from employees’ monthly salary in addition with certain contribution by the employers (Cohen Schubert 2010). On the contrary, Australia have make it compulsory for their employees to contribute to the superannuation system (Cohen Schubert 2010) whereby for U.S., an estimated 78 million working Americans which include the sole traders, employees who work for small employers or even part timers, do not have access to a retirement fund (Cohen Schubert 2010). For U.S., it has firstly introduced as a beneficial payment of employment whereas for Australia, it was created as a comprehensive system from the start (McLennan 2000). 2.3.4 Finance companies Finance companies and general financiers are basically institutions who provide loans and charter finance to clients by borrowing funds directly from the financial market (Viney 2009). As for U.S., these institutions raise funds in the debt market by issuing securities. Therefore, they raise funds solely by issuing debt or borrowing from other institutions but not taking deposits directly (Samolyk 2004). Similarly for Australia, they raise funds by issuing commercial paper, bonds and medium-term notes (Reserve Bank of Australia 2001). 2.3.5 Unit trusts Unit trusts is formed under a trust deed, and is controlled and managed by trustee by selling units to the public as a means to raise funds whereby investors purchase units in the trust (Viney 2009). As for U.S., there are generally two types of unit trusts, one that falls under private management and another that falls under direct state authority. Their role mainly involves traditional banking activities that are related to issuance of loans and deposits. The major difference between private and state authority trust is state authority institutions obtain funds from deposits and through the sale of shares, whereas private institutions operate as an intermediaries by generating finance through providing investment opportunities to clients (Samolyk 2004). Likewise, Australia too has two different types which are public unit trusts and cash management trusts  (Viney 2009). Public unit trusts focus more on gathering investors’ funds and investing it into specific types of assets (Viney 2009). However, for cash management trusts, they focus more on trust deed which are open to the public by confining their investment to financial securities which are accessible through the short-term money market (Viney 2009). 3.0 The impact of GFC 3.1 United States The birth of the global financial crisis begin somewhere in 2008. It all started in early 2006 when the subprime mortgage market in the United States (U.S.) began to reveal an increasing rate of mortgage defaults due to the bursting of the housing bubble (Mishkin 2011). Subsequently, in late 2006, these defaults caused a decline in the U.S. housing prices after about a decade of extremely high growth statistics. Later on, the prime mortgage markets were affected as well and were showing a higher default rates by the end of 2007. Therefore, when the mortgages backing the securities began to fall in value, the value of the securities fell as well (Nielsen 2010). Looking at the fall in price of their assets, investors quickly attempt to liquidate their assets in around late 2007. Consequently, in 2008, a major financial crisis hit U.S. which led to the most severe recession since World War II. The financial crisis in the U.S. economy eventually spread to many foreign nations, affecting the global financial system, resulting in a global financial crisis (Shah 2010). The degree of the global financial crisis was so severe that some of the world’s largest financial institutions have collapsed. U.S. was no exception. History was made when one of the largest investment banks in the world, Lehman Brothers, collapsed in September 2008. Some other institutions have been vehemently bought out by their competitors at a low price, and in some cases, the governments of the richest countries in the world had no choice but to sought an expensive bail out and rescue plan to save some of the remaining large banks and financial institutions (Shah 2010). These were all done at the expense of the US taxpayers. Approximately $9.7 trillion of US taxpayers’ money alone have been spent for bailout packages and plans (Dhameja 2010). According to Bloomberg, $14.5 trillion, or about 33%, of the  value of the world’s companies have been wiped out by the crisis. Therefore, as credit became scarce and seeing an increase in the lack of confidence in the U.S. financial institutions, international banks started to increase the interest rate for inter-bank borrowing, known as the LIBOR (Mishkin 2011). Subsequently, a crash in the US stock market was observed, liquidity drying up, and employees were being laid off which cause an increase in the unemployment line (Dhameja 2010). U.S. was in a state of limbo even after eleven months since the fall of Lehman Brothers. Banks virtually stopped lending to each other. Although several proposals for stimulus packages and some bailout plans have provided some relief, it seems that there was nothing more that could be done to ease the situation (Mishkin 2011). At the same time, smaller businesses hardly had any chances for a bail out or rescue plan and more people went into bankruptcy. Additionally, there was a decline in the US imports from its major trading partners such as the European Union, Mexico and China, due to the slowdown in economic activity (Nanto 2009). Private sectors practically stopped borrowing, trade credit was also hard to obtain, and with continuous falling demand, especially investment goods and manufacturing durables like cars, export volume decreases, foreign GDP fell as well, trade volumes eventually collapsed (Dhameja 2010). Moreover, the risk premium on inter-bank borrowing which used to be close to zero, rose steeply to five per cent. Besides, the risk premium on corporate bonds rose to over six per cent. Although the US government tried to inject liquidity into the financial markets, the damage was already done (Chambers 2010). 3.2 Australia GFC has less effect on Australia as compared to other countries such as US, UK and etc. Most developed countries had suffered recessions where Australia experienced a down turn in the economy (Stevens 2009). However, there is no government’s support required by the financial institutions in such situations like capital injections or the acquisition of distressed loan portfolios (Australia Bureau of Statistics 2010). The major impact of the GFC has resulted on the loss of confidence in the household sector (Stevens 2009). This is due of the decline in the equity price causes a reduced of the household wealth (The Parliament of the Commonwealth of Australia 2009). Thus, this leads to an effect of low consumption and investment which resulted to a decline growth of household as they felt insecure about the capacity to spend and borrow (Australian Government n.d.). GFC has also impacted on the unemployment rate which result shown an increase of number that lead to a decrease in the economic growth (Australian Workers’ Union 2009). The part-time employment has increased which balance to a loss of full time jobs where this also effect on the working hours such as the decrease hours in work (Chesters n.d.). Certain demographic groups have been affected by the job loss. For instance, the generation Y (18-24 years) has been affected (Tanton et al. 2010). However, they remain optimistic and relied heavily on the government benefit (Tanton et al. 2010). Moreover, competition in the banking system has also been affected by the GFC (Australian Super Investment Conference 2010) which resulted on harm towards the smaller banks and non-bank intermediaries as compared to the large banks where it leads to an increase in the cost of funds (The Senate 2011). Thus, this has impact on a greater gap between the major banks and other financial institutions (Australian Super Investment Conference 2010). The collapse of the Lehman Brothers, has led to a loss of confidence towards the banks which caused a decrease on the demand for credit (Australian Super Investment Conference 2010). 4.0 The response of GFC 4.1 United States GFC had seriously impacted the United States (U.S.) as compared to other countries such as Australia where it leads to the collapse of one of the major investment banks, Lehman Brothers. Thus, plans had been made by the U.S. government in response to the impact to prevent the situations to worsen. In comparison to Australia, the financial institutions do not need government intervention to assist them such as injection of capital. Unlike U.S., the government intervene where the central banks has purchased the government debt and the troubled asset which cost US$2.5 trillion in order to raise funds in the financial institutions (Halmarick 2009). This has resulted in the largest liquidity injection done by the government. They tried to inject liquidity into banks by buying share of banks, and purchase of convertible bonds of banks, whereby the government will be paid certain amount interest and the government will be given an option to convert these bonds into equity (Nanto 2009). Furthermore, FED tried to reduce the interest rates by cutting the Fed Funds target from 5.0% in September 2007 to an extremely low 0-0.25% as at December 2008. Later on, in March 2009, Fed started a â€Å"Quantitative Easing† policy by agreeing to buy a $300 billion in Treasury bonds (Halmarick 2009). The main purpose is to lower the interest rates across the yield curve and to provide additional funds to the banks. Moreover, US tried to overcome slowdown by stimulus packages of about $10 trillion for banks and guarantees to depositors, and also enhanced public spending (Dhameja 2010). According to Bloomberg, by February 2009, the total US bailout amounted to $9.7 trillion, sufficient to pay off more than 90 per cent of America’s home mortgage and was about 70 per cent of US GDP (Halmarick 2009). In addition, President Obama signed two packages which are the American Recovery and Reinvestment Act worth $787 billion and 5.5% of GDP. The main features include an estimated $285 billion in tax reduction for individuals and businesses, unemployment benefits, extra spending for food stamps, and also health care subsidies for workers that have been laid off (Halmarick 2009). These packages positively aim to generate at least three to four million job opportunities by the end of 2010. Additionally, US tried their best to prevent more banks from failing. The first case was Fed approves financing loans arrangement for J.P. Morgan  Chase to buy over Bear Sterns in March 2008. The second case was government controlled mortgage giant Freddie Mac received $146 million to ease their situation. Next, AIG borrowed $85 billion from Fed to prevent them from failing (Halmarick 2009). However, Fed couldn’t do much to save Lehman Brothers from failing and thus they went into bankruptcy in 2008. Therefore, US government aim to strengthen the global financial institution mainly to prevent losses of capital flows due to the impact of GFC to the developing and emerging economy by agreed on the increase of funds (Australian Government n.d.). Besides, government also actively plans to purchase equity from the financial institutions to ensure there is a sufficient liquidity which enable them to conduct activities such as investment, issue loan and deposit and much more. GFC has caused a fall of confidence in the financial institutions. Thus, government had decided to guarantee all senior unsecured debt and also the non-interest bearing transaction deposit account mainly to increase the confidence losses in the financial institutions (Australian Government n.d.). 4.2 Australia Australia had prepared by implementing an effective monetary and fiscal policy in response to the economy when one of the biggest investment bank in United States (US), Lehman Brothers collapsed in September 2008. This helps to avoid the economy from slowing down and lessen the impact of Global Financial Crisis (GFC) in Australia as compared to other countries such as US, where government responded on the measurement. In order to strengthen the operation of the financial system, government has increase up to $25 billion of the issue of Commonwealth Government Securities(Britton 2008), more choices of assets provided for Australian Office of Financial Management (AOFM) to invest in, together with a better lending facility of AOFM (Australian Government n.d.). In response to the recommendations of Financial Stability Forum, legislation has been introduced to establish Financial Claims Scheme (Britton 2008)  where the availability of funds is given to the depositors and general insurance policyholders when the financial institutions failed to perform (Australian Government n.d.). Besides, the bank deposits and wholesale funding is guaranteed by the government for a period of 3 years (D’Aloisio 2010). Additionally, the $10.4 billion Economic Security Strategy has been carry on as this helps to strengthen and stabilize the economy (Australian Government n.d.). This aim to provide protection to households and other financial institutions to gain back confidence lost due to GFC (Australia Bureau of Statistics 2010). Besides, First Home Owners Boost has been introduced mainly to assist the housing sector to stimulate activity which benefits the economy (Australian Government n.d.). The competition in the market of housing finance has been supported by the government through the purchase of the Residential Mortgage Backed Securities (RMBS) (Australian Government n.d.). However, a total of $840 million has been taken out by RBA from RBMS under a repurchase agreement mainly to ensure there is sufficient liquidity in the market (Britton 2008). The naked and covered of the short sale securities has been ban for a period of 30 days by the Australian Securities and Investments Commission (ASIC) (Helmes et al. 2009). However, a clarification of the allowable covered shares has been issued by the ASIC in concern of the set requirement (Britton 2008). A draft legislation for the covered of short sales has been released by the government and it is open for the public to comment on till 21 October 2008 (Britton 2008). Government initiated the plan of Nation Building and Jobs Plan which cost around $42 billion which was mainly to support the jobs in the country where it supported an estimated of 90,000 jobs (Sherry 2009). This help to decrease the unemployment rate and then boost the economic growth where it encourages more activities and also to increase consumption in the economy (Sherry 2009). 5.0 Conclusion In conclusion, the global financial crisis (GFC) had brought so much damage not only to U.S. and Australia, but to the entire nations’ financial system globally. Even some of the wealthiest nations saw the collapsed of its financial institutions while some had to undertake an extremely expensive bail-out package. As for U.S. they suffered more severely compared to Australia. This is because the Reserve Bank of Australia has taken measures in advance of the global financial crisis. Thus, they were not as heavily affected as compared to other countries. Therefore, U.S. should learn from Australia by implementing policies ahead of any unexpected crisis to minimize the impact and damage done to their financial system. Evidently, it is better for them to prevent and be prepared rather than solving an issue when the damage has already been done. The policies implemented should include healthy control of the discount rate, reserve requirement and also minimal inflation targeting such as two to three per cent. The right policy implementation will lead to full employment in the country, a healthy level of economic activity and international trades, which will eventually increase the country’s GDP to an optimal and desirable level. (4203 words) List of References Australia Bureau of Statistics 2010, The global financial crisis and its impact on Australia, Viewed 8 May 2012, . Australian Government n.d., Part 2: The Government’s Response to the Global Financial Crisis, Viewed 10 May 2012, . Australian Super Investment Conference 2010, The GFC and its impact on Australian capital markets, Viewed 12 May 2012, . Australian Workers’ Union 2009, The impact of the Global Financial Crisis on Australian Workers, Viewed 12 May 2012, . Board of Governors of the Federal Reserve System 2008, Federal Reserve Act, viewed 2 May 2012, Board of Governors of the Federal Reserve System 2012, Federal Open Market Committee, viewed 2 May 2012, http://www.federalreserve.gov/monetarypolicy/fomc.htm. Britton, H 2008, Government response to the Global Financial Crisis, Viewed 9 May 2012, . Chambers, C 2010, ‘US financial recovery: Political regulations or a plan for the future?’, Journal of Banking Regulation, vol. 11, no. 3, pp. 240-255, viewed 5 May 2012, retrieved from EBSCOhost database. Chesters, J n.d., The Global Financial Crisis in Australia, Viewed 10 May 2012, . Cohen, J Schubert, S 2010, Russell’s experience in Australia provides lessons for U.S. retirement plan sponsors, Viewed 14 May 2012, . Cook, RC 2008, Impacts of the Financial Crisis: The U.S. is becoming an Impoverished Nation, viewed 5 May 2012, . D’Aloisio, T 2010, Responding to the financial crisis: ASIC story, Viewed 8 May 2012, . Dhameja, N 2010, ‘Global Financial Crisis: Impact, Challenges Way-out’, The Indian Journal of Industrial Relations, vol. 45, no. 3, viewed 6 May 2012, retrieved from EBSCOhost database. Finance Maps of World 2011, Depository Financial Institution, Viewed 14 May 2012, . Halmarick, S 2009, ‘The Global Policy Response-The unprecedented becomes commonplace’, Colonial First State Global Asset Management, viewed 5 May 2012. Helmes, U, Henker, J Henker, T 2009, How the Australian ban on short selling during the GFC affected market quality, Viewed 11 May 2012, . Ireland, PN n.d. ‘Money, Banking, and Finacial Markets’, Department of Economics, viewed 3 May 2012, . Kumar, A, Chuppe, T Perttunen, P 1997, The Regulation of Non-Bank Financial Institutions, The International Bank for Reconstruction and Development, U.S.A. McLennan, W 2000, 2000 Year Book Australia No.82, Australia Bureau of Statistics, Australia. Mishkin, FS 2011, ‘Over the Cliff: From the Subprime to the Global Financial Crisis’, Journal of Economic Perspectives, vol. 25, no. 1, pp. 49-70, viewed 4 May 2012, retrieved from EBSCOhost database. Nanto, DK 2009, ‘The Global Financial Crisis: Analysis and Policy Implications’, Congressional Research Service, viewed 4 May 2012. Nielsen, RP 2010, ‘High-Leverage Finance Capitalism, the Economic Crisis, Structurally Related Ethic Issues, and Potential Reforms’, Business Ethics Quarterly, vol. 20, no. 2, pp.229-330, viewed 6 May 2012, retrieved from EBSCOhost database. Reserve Bank of Australia 2001, Financial Stability, Viewed 13 May 2012, . Reserve Bank of Australia 2001, Governance, Viewed 13 May 2012, . Samolyk, K 2004, ‘The Evolving Role of Commercial Banks in U.S. Credit Markets’, FDIC Banking Review, vol. 16, no. 2, viewed 3 May 2012, . Shah, A 2010, Global Financial Crisis, viewed 7 May 2012, . Sherry, N 2009, Australia’s policy response to the global financial crisis address to the institute of actuaries of Australia biennial convention 2009 Sydney, Viewed 10 May 2012, . Stevens, G 2009, Financial crisis developments-impact on the Australian economy, Viewed 12 May 2012, . Tanton, R, Keegan, M, Vidyattama, Y Thurecht, L 2010, The economic vitality report: the impact of the GFC on Australians, Viewed 10 May 2012, . The Federal Reserve Board 2003, The Structure of the Federal Reserve System, viewed 2 May 2012, . The Parliament of the Commonwealth of Australia 2009, The Global Financial Crisis and regional Australia, Viewed 11 May 2012, . The Senate 2011, Competition within the Australian banking sector, Viewed 9 May 2012, . Viney, C 2009, Financial Institutions, Instruments Markets, 6th edn, McGraw- Hill Education, Australi

Family Essay Example for Free

Family Essay The Conservative party wishes to try and tackle Homophobia, especially inside sport. The Conservatives also want to make businesses and work places much more LGBT (Lesbian Gay Bisexual Transgender) friendly. The Conservatives are currently debating to try and make same sex marriages legal. Businesses: The Conservatives are trying to help out smaller businesses, and have already doubled small business rates. Which means 330,000 small businesses will not have to pay any business rates until April 2013. The Conservatives have introduced a National Insurance holidays to businesses outside the South East and London. Big Society: Conservatives are currently trying to encourage volunteering, which is a scheme to bring together young people from different back grounds. The Conservatives have started training Community Organisers to identify local leaders and bring people ogether so that these people can act on what is most important to their community. A nuclear family is a universal term to describe a two generation combination/ grouping usually consisting of a father, mother and one or more children (usually two children). They would live in the same household all together to make up the nuclear family. A nuclear family is a universal term to describe a two generation combination/grouping usually consisting of a father, mother and one or more children (usually two children). They would live in the same household all together to ake up the nuclear family. A nuclear family is a universal term to describe a two generation combination/grouping usually consisting of a father, mother and one or more children (usually two children). They would live in the same household all together to make up the nuclear family. A nuclear family is a universal term to describe a two generation combination/grouping usually consisting of a father, mother and one or more children (usually two children). They would live in the same household all together to make up the nuclear family. A nuclear family is a universal term to describe a two generation combination/grouping usually consisting of a father, mother and one or more children (usually two children). They would live in the same household all together to make up the nuclear family. A nuclear family is a universal term to describe a two generation combination/grouping usually consisting of a father, mother and one or more children (usually two children). They would live in the same household all together to make up the nuclear family. v v A

pillbugs and their preferred habitat conditions

pillbugs and their preferred habitat conditions Introduction To sufficiently grasp and understand the experiment on animal behavior, it is crucial to be knowledgeable of the organisms being observed, as well as the various types of animal behaviors present in nature. In this experiment the observed organism was the pillbug. Pillbugs, are also known as sowbugs or woodlice. They are classified as terrestrial isopods as they belong to the phylum Arthropoda, subphylum Crustacea, class Malacostraca, and order Isopoda. Morphologically they consist of three body parts which include the head, thorax, and abdomen. They have one prominent pair of antennae and one inconspicuous pair, simple eyes and seven pairs of legs. The thorax consists of seven separate segments and there are paired appendages, called uropods, that are located at the end of the pillbugs abdomen. The color of the pillbugs can vary from dark gray to white and they could have a pattern or not have one. With female pillbugs, leaf-like growths appear on the underside of the bugs at the ba se of some of the legs. These pouches are where the developing eggs and embryos are held. On the male pillbug, the copulatory organs are the result of modification in the form of elongation of the first two appendages on the abdomen. An immature isopod will molt four to five times. These young isopods resemble the mature form of the isopod, with the exception of their small size in comparison to that of the adults. The juveniles molt in two stages. The back half molts first and then two or three days later the front half molts. This different molting can cause the coloration between the two halves of the isopod to differ. Nutritionally isopods are omnivores or scavengers who feed on decaying or dead plants and animals. Because Isopods breathe with gills, they can only live in areas that have high humidity, such as under rocks and logs, in leaf litter or in crevices. Some species are nocturnal. Their predators consist of both vertebrates and invertebrates. Like other animals, isopods such as pillbugs exhibit their own interesting behaviors. When disturbed, some species will roll up into a ball. They walk fairly quickly, even walking over one another. Environmentally, isopods have both positive and negative effects. The positive impacts of isopods include, within their immediate surroundings, a minimal amount of soil improvements. Unfortunately, large populations of these isopods can eat and damage the plants in greenhouses and southern states. Some of these interactions and descriptions of these isopods is clear from just observing them. These isopods, as well as other animals, exhibit many types of response to sensory input, a response that is known as behavior. The study of an animals behavior is called ethology. Two simple categories for behaviors are learned and innate (inherited). The behaviors that an animal uses to place itself in its most favorable environment are known as orientation behaviors. When the animal is stimulated by such things as light, heat, moisture, sound, or chemicals, they often exhibit taxis, with is the animals movement toward or away from a stimulus. In contrast to this is kinesis, which is a random movement that does not lead to orientation with respect to a certain stimulus. Another type of animal behavior is called agnostic behavior. This type of behavior is exhibited when animals respond to one another with aggressive or submissive response. It is often the case that these agnostic behavioral displays are a method of asserting dominance. Animals also have specific rituals and sets of activities that are involved in finding, courting and mating with another member of its species. Such activities are known as mating behaviors. Pillbugs exhibit, even just when being observed, many of these behaviors. One, the agnostic behaviors, involves the larger isopods appearing to fight. Soil conditions have various pHs. Some plants grow best in acidic conditions, whereas some grow best in basic conditions. Most, however, grow best in areas where the pH ranges from 6.5 to 7.2, 7 being neutral. Hydrochloric acid, HCl, (0.1 M) has a pH of about 1.1 and Potassium Hydroxide, KOH, (0.1 M) has a pH of about 13.5. These two chemicals exhibit pHs at the extremes of the pH scale. Detritus, on which isopods feed, has a more acidic pH. When organic matter decays, H+ ions are produced, thus adding acid to the soil. The acidity limit for plants tends to be no lower than about 4.5 to 5.6 on the pH scale. The vapor pressure of a liquid refers to the concept that the process of evaporation, in a closed container, will proceed until the number of molecules returning to the liquid is equal to the number of molecules that are escaping. When this equilibrium, the vapor is called saturated and the pressure of that vapor, which is normally expressed in mmHg, is referred to as the saturate d vapor pressure. The vapor pressure of HCl is the about the same as water, which is approximately 20 mmHg at room temperature, 22 C. The vapor pressure of KOH is about 2 mmHg for a 45% KOH solution.5 The purpose of this experiment was to use pillbugs to examine animal behaviors, such as taxis, to examine habitat preferences, and determine whether these isopods prefer moist or dry habitats, dark or light habitats, and acidic or caustic environments. It is hypothesized that, given that pillbugs posses gills, for which moisture is needed to help function properly, the pillbugs would prefer moist over dry environments. In addition, it can be hypothesized that, given that the pillbugs live under rocks and feed on decaying organic material, which releases acid into the soil, they would prefer the dark rather than light conditions and the acidic over the caustic environment. Materials and Methods Water Pipet Filter Paper (2 pieces) Choice Chamber Scissors Soft Brush 10 Pillbugs Stopwatch To observe pill bugs and their preference for moist versus dry conditions, a choice chamber, consisting of two petri dishes connected to one another, was obtained and lined with filter paper. Two pieces of filter paper were cut to fit the chambers. One was then moistened, using a pipette, with a few drops of water. The second piece of circular filter paper was left dry. The moistened filter paper was placed at the bottom of one chamber, chamber 1, and the dry filter paper was placed at the bottom of the other, chamber 2. Then, using a soft brush, ten pillbugs were obtained from the stock of pillbugs, and then placed into the chambers. Also using a soft brush, five pill bugs were placed in the dry chamber while the remaining five were placed in the moist chamber and the chambers were closed. This pillbug count for each chamber was then recorded for time zero minutes. Using the stopwatch to track time, the count of pill bugs on each side of the choice chamber was then recorded every 30 seconds for ten minutes, and continued even when some may no longer have been moving or were all on one side. Notes were taken on the actions and interactions of the pill bugs throughout the ten minute period. Once ten minutes had elapsed, the pillbugs were returned to the stock culture. Black Paper White Filter Paper Choice Chamber 10 Pillbugs Soft Brush Scissors Stopwatch To determine the preference of pillbugs between light and dark habitats and conditions, a choice chamber with two connecting petri dishes was lined with two different types of paper. One piece of normal filter paper and one piece of black paper were both cut to fit the chambers. Next, the bottom of the inside of one dish, chamber 1, was covered with the unaltered, white filter paper and the other dish, chamber 2, was lined with the black paper. Then, using a soft brush, ten pillbugs were obtained from the pill bug stock culture, five of which were placed in the black-paper lined chamber and the remaining five were placed in the white paper lined chamber. The choice chamber was then closed. The initial pill bug count, 5 in each chamber was then recorded in the table. For a period of ten minutes, using a stopwatch to track time, the count of the pillbugs on each side of the choice chamber was recorded every thirty seconds. In addition, notes about the interactions of the pill bugs were taken throughout the ten minute period. The count continued to be taken, regardless of the lack of movement from the pillbugs or the concentration of all ten in one chamber. After the ten minutes had elapsed, the pillbugs were returned to the stock culture. White Filter Paper (2 pieces) 0.1 M HCl (Hydrochloric Acid) 0.1 M KOH (Potassium Hydroxide) Pipettes (1 or 2) Filter Paper (3 Pieces) 3 Choice Chamber 10 Pillbugs Scissors Stopwatch To determine the preference of pillbugs in terms of basic versus acidic conditions, a 3-choice chamber was set up. Three pieces of filter paper were cut to fit the chambers. Using a pipette, about four drops of 0.1 M HCl were placed in a circular pattern about the paper. Another piece of filter paper was sprinkled with 0.1 M KOH in the same manner as was done with the hydrochloric acid. The HCl and KOH were applied to the filter paper in such a way that the paper was not drenched in the chemical. One chamber, the one connected to two other chambers was lined with an unaltered piece of filter paper. One of the two remaining chambers, chamber 1, was lined at the bottom (inside bottom) with the acidic filter paper and the remaining chamber, chamber 3, was lined at the bottom with the basic filter paper. Using a soft brush, the ten pill bugs were all removed from the stock culture and placed in chamber 2, the middle chamber consisting of the unaltered paper. The chambers were then covere d and the pillbug count was recorded in the table for the initial time of 0 minutes. For the next ten minutes, the count of pillbugs in each of the three chambers was recorded every thirty minutes. The data continued to be collected even when they were no longer moving between sides or were all on one side. After the ten minutes had elapsed, the ten pillbugs were returned to the stock culture. Results Table 1: Number of Pillbugs in Wet vs. Dry Chambers at Various Times Time (min.) Number in Wet Chamber Number in Dry Chamber Other Notes 0 5 5 Begin moving instantly 0.5 2 8 Large number shifts together to one side 1 1 9 One more baby follows 1.5 3 7 Fighting between two larger isopods 2 5 5 Even out again 2.5 5 5 Move about but come back to even; one not moving 3 6 4 More to wet chamber 3.5 4 6 Back to Dry Chamber 4 5 5 Crawling on underside of paper 4.5 4 6 Fighting to get from one side to another 5 3 7 Large pillbug still not moving 5.5 6 4 Other pillbugs begin gathering around non-moving pillbug 6 7 3 Pillbugs piled on top of one another 6.5 5 5 Pillbug begins to move again 7 4 6 More to Dry Chamber 7.5 5 5 Back at even 8 6 4 Continual switch from chamber to chamber 8.5 7 3 Begin gathering at wet chamber 9 9 1 More join wet chamber 9.5 7 3 Crowded, a few go to dry chamber 10 9 1 Return to wet chamber Table 2: Number of Pillbugs in Lighter vs. Darker Colored Chambers at Various Times Time (min.) Number in Light Chamber Number in Dark Chamber Other Notes 0 5 5 Begin moving instantly 0.5 3 7 Move to dark side 1 2 8 More to dark side 1.5 2 8 Remain, no overall movement 2 2 8 No overall movement 2.5 3 7 Begin going to white side 3 3 7 No overall movement 3.5 4 6 Moving to lighter side 4 2 8 Move to dark side 4.5 5 5 Equalize again 5 3 7 Fighting to get to dark side 5.5 5 5 Equalize again 6 4 6 More to Dark side 6.5 7 3 Piling up to get to lighter side 7 7 3 No overall movement 7.5 8 2 More in lighter side 8 9 1 More in lighter side 8.5 7 3 Move to dark side 9 5 5 Equalize again 9.5 3 7 Move to darker side 10 4 6 Young follows adult to other side Table 3: Number of Pillbugs in Neutral, Acidic and Basic Chambers at Various Times Time (min.) Number in Neutral Chamber (Control) Number in Acidic Chamber Number in Basic Chamber Other Notes 0 10 0 0 Immediate Movement 0.5 2 5 3 Move to acidic 1 3 5 2 Stay around outside of chamber 1.5 6 2 2 Quickly out of acidic and into neutral area 2 4 3 3 More to basic area 2.5 5 2 3 Away from acidic area 3 2 3 5 More slowly moving to basic area 3.5 2 1 7 Movement to basic chamber 4 4 0 6 Pillbugs all out of Acidic area 4.5 1 1 8 Most in Basic area 5 1 4 5 Some return to acidic chamber 5.5 3 1 6 Slowly moving out of Acidic chamber and into neutral and basic chambers 6 4 1 5 Out of basic and into neutral 6.5 3 1 6 Back into basic area, around outside of filter paper 7 3 1 6 No overall movement 7.5 4 0 6 All gone from acidic area 8 3 0 7 More to basic area 8.5 4 0 6 Small shift 9 3 0 7 Reverse of shift 9.5 2 0 8 More to basic area more slowly than before test 10 1 0 9 More to basic area Figure 1: Fluctuation in Number of Pillbugs in Wet and Dry Chambers Figure 2: Fluctuation in Number of Pillbugs in Lighter and Darker Colored Chambers Figure 3: Fluctuation in Number of Pillbugs in Acidic, Neutral and Basic Chambers Discussion Table 4: Average Number of Pillbugs in Wet vs. in Dry Chambers Time (min.) Number in Wet Chamber Number in Dry Chamber Average # of Pillbugs in Wet Average # of Pillbugs in Dry 0 5 5 0.5 2 8 1 1 9 1.5 3 7 2 5 5 2.5 5 5 3 6 4 3.5 4 6 4 5 5 4.5 4 6 5 3 7 5.5 6 4 6 7 3 6.5 5 5 7 4 6 7.5 5 5 8 6 4 8.5 7 3 9 9 1 9.5 7 3 10 9 1 Total # of Pillbugs 108 102 5.143 4.857 Table 5: Average Number of Pillbugs in Lighter vs. Darker-Colored Chambers Time (min.) Number in Light Chamber Number in Dark Chamber Average # of Pillbugs in White (Light) Average # of Pillbugs in Dark 0 5 5 0.5 3 7 1 2 8 1.5 2 8 2 2 8 2.5 3 7 3 3 7 3.5 4 6 4 2 8 4.5 5 5 5 3 7 5.5 5 5 6 4 6 6.5 7 3 7 7 3 7.5 8 2 8 9 1 8.5 7 3 9 5 5 9.5 3 7 10 4 6 Total # of Pillbugs 93 117 4.429 5.571 Table 6: Average Number of Pillbugs in Neutral, Acidic and Basic Chambers Time (min.) Number in Neutral Chamber Number in Acidic Chamber Number in Basic Chamber Average # of Pillbugs in Neutral Chamber Average # of Pillbugs in Acidic Chamber Average # of Pillbugs in Basic Chamber 0 10 0 0 0.5 2 5 3 1 3 5 2 1.5 6 2 2 2 4 3 3 2.5 5 2 3 3 2 3 5 3.5 2 1 7 4 4 0 6 4.5 1 1 8 5 1 4 5 5.5 3 1 6 6 4 1 5 6.5 3 1 6 7 3 1 6 7.5 4 0 6 8 3 0 7 8.5 4 0 6 9 3 0 7 9.5 2 0 8 10 1 0 9 Total # of Pillbugs 70 30 110 3.33 1.429 5.238 Figure 4: Comparison of Average Number of Pillbugs in Wet Chamber vs. in Dry Chamber Figure 5: Comparison of Average Number of Pillbugs in Lighter-colored and Dark-colored Paper Figure 6: Comparison of Average Number of Pillbugs in Acidic, Neutral and Basic Chambers It was hypothesized that the isopods (pillbugs), given their possession of gills for respiration and that they live underneath rocks and logs, places where light is not in abundance, would prefer the wet chamber over the dry chamber and the dark chamber over the light chamber. It was also hypothesized that, considering that the pillbugs feed off of decaying organic material, which in the process of decaying increases the acidity of the soil, these isopods would prefer the acidic chamber (the one with HCl), over the caustic (with KOH) and neutral chambers. The data collected from preforming the experiment partially supports the hypothesis. The average number of pill bugs in each chamber, was calculated by summing the pillbug count for all twenty-one times in one chamber and then doing so for the next and then dividing these totals by the total number of pillbugs counted. In each case this number was 210. The results show, as seen in Table 4 and Figure 4, that the average number of pil lbugs in the moist chamber over ten minutes was about 5.143 while the average number in the dry chamber was about 4.857. This higher average for the moist chamber illustrates taxis with a movement toward the stimulus of moisture. The second portion of the hypothesis was also supported by the data collected. Table 5 and Figure 5 both show that the average number of pillbugs in the chamber with white filter paper was about 4.429, in comparison to the average number in the chamber with dark paper, which was about 5.571. These results are consistent with the known habitat of isopods such as pillbugs. The hypothesis for third portion the experiment, however, was not supported by the data collected. Table 6 and Figure 6 both show that the pillbugs actually prefer a basic environment, one with drops of KOH, over an environment with no chemical additives and the environment with the addition of drops of the strong acid HCl. The average for the number of pillbugs in the neutral environment w as about 3.33, for the acidic environment the average was 1.429 and for the caustic environment the average was about 5.238. These results could possibly be explained by the higher vapor pressure of HCl in comparison to that of the KOH. With a higher vapor pressure, the HCl would have vaporized more easily and quickly, thus getting into the gills of the pillbugs and causing them irritation. This irritation would explain their clear lack of fondness for the HCl permeated filter paper. The lack of pillbugs accumulating on the plain filter paper can possibly be explained by its complete lack of moisture, and that the antennae on the pillbugs would not sense any chemical or something of that nature, that would attract the pillbugs to that chamber. The interaction of the pillbugs inside the choice chambers is indicative of agnostic behavior, as seen in the fighting of the pillbugs. Human error, such as counting, would not play any, or any significant role, in the results of the experimen t. This experiment and the results obtained from it support most of the hypothesis, but conflict with and not support another portion. The results support the preference that pillbugs have for moist and dark environments, but suggests that pillbugs prefer more caustic environments to neutral and acidic environments. Citations

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