EU Crisis its Consequences and Possible Solutions

Introduction The European economy has been in recession since 1930s. Financial crisis in Europe began in 2007. This was without precedent in post war economic history (Eichngreen O’ Rourke 2009). After this, there was the lengthy premia with insignificant risk, a sharp rise in credit growth and development of the real estate industry as well as easy availability of liquidity.Advertising We will write a custom essay sample on EU Crisis its Consequences and Possible Solutions specifically for you for only $16.05 $11/page Learn More Financial institutions became extremely vulnerable to asset market corrections. This led to a downturn on the financial systems. This actually toppled the whole structure. This however was not a new thing as it had initially happened to other countries before, for example Nordic countries and Asian crisis among others. Just as the 1930s depression was a worldwide phenomenon, there is no difference with the present econom ic crisis. How did it begin? In the late 2009, investors had fears of a sovereign debt crisis concerning government debt levels that were rising worldwide (Eichngreen O’ Rourke 2009). Fears were also caused by the downgrading of the government debt in various European states. This made it impossible for Greece, Portugal, and Ireland to refinance their debts in early 2010 as the situation intensified (Eichngreen O’ Rourke 2009). The Europe finance ministers had to approve a rescue package and eurozone leaders had to come in also by agreeing to another package of money to prevent the collapse of the European economy. The European leaders in addition suggested a creation of a common fiscal union. This union was to be across the eurozone which had to be with very strict rules that were enforceable by the EU treaties. Nevertheless the European currency managed to retain its stability. Greece, Portugal and Ireland were the three most affected countries. This European crisi s was caused by a combination of factors that were complex. These factors included things like globalization of finance, imbalances in international trade, bursting of real estate bubbles, slow economic growth rate, easy credit conditions which encouraged high risk borrowing and lending practices, fiscal related choices in relation to government expenses and revenues, and lastly approaches used to bail out troubled banking industry by nations. A narrative description of the beginning of the European crisis is that it began with a great increase in savings. These savings were available for investment for the period between year 2000 and 2009 (Wachman 2010). It is argued that during this time, globally the pool for fixed income securities increased greatly. This enormous pool of money was caused by an increase in savings. These savings were from the high growth countries that entered the global capital market. Investors looked for alternative higher yields in treasury bonds than those offered in the U.S. globally. The readily available savings created a temptation and this overwhelmed regulatory and policy in different countries, as global fixed investors generated bubbles across the world.Advertising Looking for essay on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More These bubbles eventually burst causing prices of assets (for example, commercial property and housing) to decline. The bubbles also caused liabilities to global investors to stay at full prices. This brought about questions on solvency of governments and matters regarding their banking systems (di Magliano n.d.). Different countries in Europe got into this crisis in different ways. For example, in Ireland, its banks lent money to property developers and this led to a bubble in property (Wachman 2010). When finally the economic bubble burst in Ireland, there was a general takeover of the role of private investors by both the government a nd the economy’s taxpayers. In Greece, there was an increase in commitments to its public workers by the government. This was in form of very generous pensions and pay. Some politicians blame bailing out of institutions by public funds to be a cause of the crisis in Greece (Eichngreen O’ Rourke 2009). Some financial institutions benefited from the debt situation in Greece in the short run. The banking system in Ireland grew greatly and this in return created global investors. The global investors, who are actually an ‘external debt’, were several times larger than the country’s GDP. Interconnection in financial systems globally means that when a one nation goes into recession or defaults its sovereign debts, this puts external private debt at very great risk. Losses are faced by the banking systems of the creditor country. Creation of interconnection is based on the concept of debt protection. A credit default swap (CDS) contract is entered by the financial institutions which does the payment incase defaults occurs. The amount on money changing hands most of the times is higher than the debt amount itself due to purchase of the same security by the CDS. There is uncertainty as it is not clear as to which exposures are done by each country’s system in banking in relation to the CDS (di Magliano n.d.). Impact of EU Crisis on the European countries The three greatly affected countries were Greece, Portugal and Ireland as mentioned earlier. Definitely the European crisis has not had a positive impact on the European countries. There has been an economic collapse in most of the European countries. Very few countries tried to evade this economic collapse and these countries include Poland, Bulgaria and Romania. The rate at which the UK is recovering is very slow (Khor 2011). In Japan however, the tsunami effect caused the economy not to grow better as expected. The vehicle industry was particularly affected by this disaster. Austerity measures in British government are slow which have reduced public spending to almost zero and adversely affects the economy. There is a high rate of inflation, very small salary rises, and an increase in unemployment. These result in losing of hope of consumers’ in the future and there has been an increase in demonstrations by these consumers protesting over their frustrations.Advertising We will write a custom essay sample on EU Crisis its Consequences and Possible Solutions specifically for you for only $16.05 $11/page Learn More In Greece, the Greeks have totally lost their confidence in any economic recovery in the near future (Wachman 2010). Public spending in Greece is on the rise and this puts the International Monetary Fund (IMF) and EU to come in and help Greece overcome the crisis. Unemployment rate in Greece is high, with more than one in every ten persons in Greece being jobless. There is a fall in contribution to the natio nal budget. Spending rates are very high. Implementation of measures such as privatization and liberalization of the economy and reduction in civil servants are very low and they are not done quickly by the Greek government. State authorities and public enterprises that are surplus in regard to their requirements have not been cut or closed. Greeks are currently not making any essential purchases and this brings about an economy that is not strong. The bad economy is attributed by the current unemployment rates that are high and the increase in consumption of taxes and contributions. In Greece there is a low productivity level and a very high deficit in combined capital and current account. With the help of the International Monetary Fund and the EU, it is assumed that with time Greece will slowly recover (Wachman 2010). In Bulgaria, contrary to the drop in economic growth in other countries, it has seen an increase in its economic growth (Wachman 2010). This growth has been attribu ted by the export activities. In addition, the tourism industry has contributed to this growth by creating employment opportunities. Bulgaria has been able to reduce its government deficits. This has resulted in stabilized economy. However, it is argued that the financial crisis and the European debt impact will eventually have a negative effect on the Bulgaria economy. The Greek bailout so far by the Bulgarian country is seen to have some slightly negative impact in the recent times (Eichngreen O’ Rourke 2009). A fall in income expectation is another negative impact experienced by the European countries due to this crisis. Consumers in Italy are aware that there is a threat of national bankruptcy. They are actually preparing themselves on hoe to tackle this problem. Sacrifices are being made by the consumers to salvage the situation at hand. Italians are however very unwilling to pay higher taxes like in any other country. However, they are preparing themselves by suffering cutbacks in income. Those getting high salaries are ready to pay up more taxes. This is perceived to reduce the government debt to a lower level. These cuts are a concern to the social services and they contribute to a low economic growth. Italy has the highest levels of unemployment than any other country in Europe. Income expectation has also fallen down. There is little hope by the Italians in the recovery of their economy in the near future (Szekely 2009).Advertising Looking for essay on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More In Poland, however, the economic status is good. The employment levels too have been rising. This does not mean that the unemployment rate is okay, it is simply improving with time. Uncertainties are also created by the general elections in Poland (Wachman 2010). Political developments in Poland usually generate uneasiness among consumers. Income expectation is greatly affected by these conflicting factors, it actually becomes lower. Another impact of the European crisis in the European countries is lowering the willingness to buy by the consumers (Wachman 2010). Consumers hesitate whether to buy or make major purchases now or to delay the spending. This is very common in Portugal. In Romania, the situation is changeable currently. Consumers spend their income on non-alcoholic drinks and food. This shows how their spending is limited to necessities only (Szekely 2009). In Portugal, there is a battle against the crisis by trying to implement the cost-cutting programs (Wachman 2010). These programs are set by the European Union. Austerity measures are putting pressure on citizens by an increase in taxation. There has been no salary increase. Consumers only buy what is necessary since they cannot afford to spend more than what they can afford. In Spain, inflation has somehow been kept at bay. Currently it is the lowest in European countries (Wachman 2010). This is due to reduced prices in fuels. Despite this, there is no hope in Spain since the economic recovery and the willingness to purchase is still low. Consumers are also affected by the uncertainty on the development of the debt crisis in European Union. Consumers are very cautious on their daily expenditure. Greek Debt Problems and Risk of Contagion to other Countries The debt problem facing the Greece is a tragedy which is glaring Europe as political turmoil is also accompanying it. It is postulated that dwarfing of the Greek tragedy may come in case there is spread of the problem to its significant neighb ors through contagion. According to Khor (2011), bailing out Greece is likely to see the crisis reach countries like Italy thus leading to a severer crisis in Europe since Italy is a large economy. This is because Italy’s economy is already in debt and thus it would be forced to get new loans at the price of increased interest. Given the Greece problems remains unsolved, one can only expect the European crisis to stay and spread. With Greece facing both solvency and liquidity problems, working out the debt problem by for instance creditors receiving a portion of the remaining loans to Greece would scare banks from major European economies which have kept the Greece loans. This is among the major reasons why there is a call for bailout, though bailout, such as that done by the IMF and Europe in 2010, did not solve the problem in entirety. It is foreseeable that the probability of Greece getting new loans will reduce given that the default being experienced by the market will d iscourage lending to Greece. Contagion is predicted to spread to as far as Spain and Italy since European has not been able to act as a unit on the Greece problem. This has consequently had an impact on confidence in the eurozone. Overall, it is expected therefore that global economy will worsen since no major world economic player (Europe, Japan or the U.S.) currently stands in a position to salvage the global economy. In the event that Greece defaults on its debt (which is almost inevitable), contagion is almost inevitable in economies such as Portugal and Ireland which are already doing poorly. This risk is also likely to spread to other larger economies like Spain and Italy, but this is less likely given the diversity of these economies. The likelihood of these wealthier economies experiencing contagion due to Greek’s tragedy is further reduced by the fact that other wealthier European economies are likely to respond fast to avert such a situation since it would affect th e entire European region adversely (Vanguard 2011). A number of measures have been put in place in trying to solve the European crisis. EU emergency measures have been put in place. These include measures like the European Financial Stability Facility (EFSF). The EFSF is a legal instrument that has an aim in preserving financial stability in all European countries (REF). It provides assistance financially to the eurozone states in times of difficulties. It can issue debt instruments like bonds on the market to raise funds needed in giving loans to the eurozone countries which are in need of financial support. The German debt management office offers support to the EFSF in these debt instrument offerings. These bonds are usually backed up by guarantees that are given by the member states of the euro. These guarantees are in relation to the share in paid up capital in the European central bank. Members of the states finance ministers expanded the EFSF by creating certificates capable of guaranteeing up to thirty percent. The EFSF raises funds after the government has made a requisition (European Commission 2011). The European financial stabilization mechanism (EFSM) is a funding program that offers funds on emergencies. These funds are raised on the financial markets (European Commission 2011). The European commission guarantees the EFSM. It uses the European Union budget as collateral. Its aim is to preserve financial stability in the European countries by providing funds to them during their economic hardships. The funds are backed by the 27 European members. EFSM is supervised by the European commission. Both the EFSM and the EFSF will eventually be replaced by a more permanent programme called ESM. The Brussels agreement is an agreement made by the Eurozone countries in the Brussels. They agreed to write off fifty percent of Greek sovereign debts. The bailout was held under European finance stability funds. They also agreed to increase up to 9% level on bank capitalism and a set of commitments to make measures in reducing the national debt (European Commission 2011). The European central bank has also intervened in solving the European Union crisis. There are various measures that it has taken to offer solutions to the crisis. The first one is the open market operations in buying private debt and government securities. This will prevent inflation. Secondly the central bank offers one six-month and two three-month full allotments in long term refinancing operations. Thirdly, the central bank reactivated all the dollar swap lines. Government debts were subsequently bought by the member banks. These member banks belonged to the European system of central bank. ECB has its policies regarding the credit ratings on loans changed (Costello et al 2009). Concerted actions from several central banks aided in creating a solution to the crisis. The ECB, the Federal Reserve in the US, the Swiss national bank and Canada’s, Japan’s and Britain’s central bank offer global financial help to the European countries (European Commission 2011). Proposed Long-term Solutions to the Crisis European fiscal union is the first solution. A fiscal union is a long term stable solution as compared to the portfolios that are implemented towards investments (Eichengreen O’Rourke 2010). A stability and growth pact reform was formed aimed at straightening rules in case of deficit or debt rule breaches. Germany is pressuring other member states into adopting a balanced budget law. This law will help in achieving a clear cap on matters relating to new debts. There is also a need for a very strict budgetary discipline. There is implementation of debt breaks of the eurozone countries and this implies a tighter fiscal discipline. By the end of 2011, the eurozone countries will have created a fiscal union with strict enforceable rules. There will also be automatic penalties. The eurozone countries agreed to put strict caps o n the way their governments are spending and borrowing money. Penalties are put in place for those who violate the stipulated limits (Costello et al 2009). Another long term solution is the Eurobond. It was suggested that Eurobonds be issued jointly by the euro nations. However this plan was to work properly with the use of tight fiscal surveillance. Economic policy coordination is also vital for the Eurobonds to work effectively. The Eurobonds actually would raise any country’s liabilities in debt crisis (di Magliano n.d.). This would however be best in solving debt crisis. European stability mechanism is also another long term solution. This is a permanent rescue funding programme (Mission Watzka 2011). It allows for permanent bailout. This kind of a mechanism offers financial firewall services. It comes in handy in cases where one country defaults in the interconnected financial systems and it ensures protection of downstream nations. It enables management of the single d efault and limits financial obligation. Addressing current account imbalances can act as a long term solution. There is need to regulate cross border capital flow in the euro area. This avoids any current account imbalances. A country which imports more than what it exports is a net importer of capital; this means that the country decreases its savings reserves. It also implies that these kinds of countries drive their capital into other countries which have trade deficits (Szekely 2009). This eventually creates asset bubbles and lowers interest rates. If a country has a large surplus, its currency value appreciates. This in return reduces imbalances since price of its exports increases. Domestic savings can greatly reduce trade imbalances. This can be encouraged by restricting capital flow across the border or raising interest rates. This is however going to increase government interest rates and to offset a slowing down to the economy. Lastly European monetary fund (EMF) can be se en as a long-term solution to the crisis. There are suggestions that EFSF to be transformed to EMF. EMF provides governments with fixed interest rates on Eurobonds (Borthwick 2011).The rates are usually slightly below the nominal terms. This renders the bonds untradeable and therefore they can only be kept or held by investors. It can be liquidated by the EMF anytime. The EMF would also ensure fiscal discipline and provide funds to countries meeting the agreed fiscal criteria. This ensures that a government has sound financial policies otherwise they would have to rely on government bonds which have market rates that are unfavorable (Borthwick 2011). List of References Borthwick, D., 2011. Introducing the European Monetary Fund. Seeking Alpha. [online] Available at: http://seekingalpha.com/article/312148-introducing-the-european-monetary-fund Costello, D., Hobza, A., Koopman, G. J., Mc Morrow, K., Mourre, G., Szekely, I. P., 2009. The negative impact of the financial crisis on pot ential output necessitates an EU-led policy response. VOX. [online] Available at: http://www.voxeu.org/index.php?q=node/3771 di Magliano, R. P., n.d. Sovereign debt problems in advanced industrial countries. [online] Available at: www.cireq.umontreal.ca/activites/papiers/11-12pasca.pdf Eichengreen, B., O’Rourke, K. H., 2010. What do the new data tell us? VOX. [online] Available at: http://www.voxeu.org/index.php?q=node/3421 European Commission, 2011. European Financial Stabilisation Mechanism (EFSM). European Commission, Economic and Financial Affairs. [online] Available at: http://ec.europa.eu/economy_finance/eu_borrower/efsm/index_en.htm Khor, M. 2011, 11 July. Rich economies enmeshed in crises. Third World Network. [online] Available at: http://www.twnside.org.sg/title2/gtrends/gtrends347.htm Mission, S., Watzka, S., 2011. Financial contagion and the European debt crisis. Ludwig-Maximilians-Università ¤t Mà ¼nchen, Seminar for Macroeconomics. [online] Available at : www.sfm.vwl.uni-muenchen.de/†¦/contagion_in_euro_area.pdf Szekely, I. P., 2009. Economic crisis in Europe: Cause, consequences, and responses – a report by the European Commission. VOX. [online] Available at: http://www.voxeu.org/index.php?q=node/4065 Vanguard, 2011. What a potential Greek default means for investors. Vanguard. [online] Available at: https://global.vanguard.com/international/americas/news/Potential-Greek-default.html Wachman, R., 2010, 28 April. Greece debt crisis: the role of credit rating agencies. The Guardian. [online] Available at: http://www.guardian.co.uk/business/2010/apr/28/greece-debt-crisis-standard-poor-credit-agencies This essay on EU Crisis its Consequences and Possible Solutions was written and submitted by user Ph1ll1p to help you with your own studies. You are free to use it for research and reference purposes in order to write your own paper; however, you must cite it accordingly. You can donate your paper here.

Learning About Obesity Professor Ramos Blog

Learning About Obesity I vividly remember roaming the aisles of Costco with my mom when I was about eight or nine years old. I grabbed pizza rolls from the freezer and asked my mom if we could get them and she said sternly, â€Å"Honey I am not getting you those, they are so unhealthy. Do you see that overweight lady over there? Do you want to look like her when you’re older? I didn’t think so. Put them back†. I threw a fit because I didn’t seem to care at all that pizza rolls were unhealthy, they just tasted good. Realizing now, my mom was just trying to start healthy habits for me at a young age and I am happy that she did. I no longer have to worry about obesity and the diseases and struggles that may come along with it. Obesity is growing into more of a problem today than people realize. Unhealthy lifestyles are becoming so prevalent, and they are growing harder and harder to break. Obesity is a disease that is caused by unhealthy lifestyles or genetics and can be prevented and treated in various ways. According to Stanford Health Care, there are many ways that obesity can be prevented, and the primary way is by starting with the prevention in infants. For example, breastfeeding infants for a longer period of time can make them less likely to become obese when they grow old (Obesity Prevention par. 4). As the time of breastfeeding increases, the percentage of likeliness to become overweight as an adult marginally decreases. This is interesting because as a society, breastfeeding seems to be something that parents would like to stop sooner rather than later. Obesity seen in adolescents occurs primarily due to thoughtless eating habits and lack of exercise. These habits could have been passed down from their parents, who could also be providing them with unhealthy food. Genetics can also be a factor of obesity within the youth. More thought and effort would be needed by adolescents who are born with these genes to become a healthier weight than someone without the genetics that can g enerate obesity. The prevention of obesity within adults can be aided by putting more attention to improving eating habits and expanding physical ability in their everyday lives. There are many different factors that play a part in helping prevent obesity throughout a lifetime. â€Å"Obesity is a treatable disease that is a worldwide health concern associated with having an excess amount of body fat. It is caused by genetic and environmental factors and can be difficult to control through dieting alone. Obesity is diagnosed by a healthcare provider and is classified as having a body mass index (BMI) of 30 or greater† (What is Obesity? par. 8). Obesity is an epidemic and rates have gone up quite a lot in adults, even the extremes of obesity rates have gone up a little over 7 percent. According to â€Å"What is Obesity?†, having a BMI in the range of 25-29.9 is the beginning of a health concern (What is Obesity? par. 3). At this point, this is deemed as being overweight and changes should be made in one’s lifestyle such as dieting, physical activity, and producing better eating habits. Obesity is reached when a person’s BMI reaches an amount of 30.0-39.9. When one is considered obese, it is then classified as a disease and may als o lead to other problems in a person’s health. After the general obesity level when a certain BMI is reached, a more critical level can be reached, termed severe obesity. Severe obesity is someone who passes 100 pounds or over within their respective healthy body weight. A person with a BMI over 40 has an even higher chance of health difficulties in their lives and should seek help from a professional healthcare provider. There are many simple and complex causes of obesity in this day and age, but one of these factors include psychological stress. This stress could come from everyday life, along with different problems and concerns that people may encounter. Dealing with these issues can make a person successful on dealing with obesity in other ways (What is Obesity? par. 9). In some studies, sleep deprivation has shown correlation between the amount of sleep people get and how the lack of sleep has affected a person and their weight. Moreover, there is a higher chance of being overweight if one sleeps less than people who sleep a lot (Why People Become Overweight.) The media could be seen as a potential effect on a person’s thoughts and inner conscience. Ads by companies can persuade someone to partake in eating more unhealthy. These ads are being shown everywhere causing unhealthy food to be perceived as the best option by the most famous food chains on the planet, on advertisements, such as television and billboards. A more complex factor on obesity influence is the metabolic factor which is when â€Å"levels of ghrelin, a peptide hormone known to regulate appetite, and other peptides in the stomach, play a role in triggering hunger and giving you a feeling of fullness after eating.†(Obesity Causes.) There are ways that a person’s metabolism can be regulated and fixed to fit the specific person and their lifestyle but people need to just push to take that extra step. After remembering the story about my childhood and how the simplest things like wanting to eat some pizza rolls could affect me, it made it easier to be self aware about the things that should go into my stomach. Also making the physical activities that occur easier to take part in because of the knowledge that has been gained throughout a majority of my life, including being aware of what BMI is and what and how it affects the human body across everyone’s lives and the step on how to change at least one of the things that could help in bettering life and creating a body that is ideal to work towards. Annotated Bibliography Harvard Health Publishing. â€Å"Why People Become Overweight.† Harvard Health, Harvard Medical School, June 2009, health.harvard.edu/staying-healthy/why-people-become-overweight. This article talks about why people become overweight and what the factors are. There are also mentionings about the environmental causes of obesity within people. I am approaching it because I want to explain why people become obese and what factors are involved in the process of being obese. This article has a disclaimer on their reliability and comes from an â€Å".edu† Harvard Medical School source. â€Å"Obesity Causes.† Stanford Health Care (SHC) Stanford Medical Center, stanfordhealthcare.org/medical-conditions/healthy-living/obesity/prevention.html. This article will explain how to prevent obesity in many different ways. Along with explaining how obesity will be prevented, it will discuss in detail how to prevent it within certain age groups. I am talking about this article because it goes along with my theme of informing the reader on helpful actions that could be taken if needed. This information comes from Stanford’s Health Care program. â€Å"Obesity Prevention.† Stanford Health Care (SHC) Stanford Medical Center, stanfordhealthcare.org/medical-conditions/healthy-living/obesity/prevention.html. This article will explain how to prevent obesity in many different ways. Along with explaining how obesity will be prevented, it will discuss in detail how to prevent it within certain age groups. I am talking about this article because it goes along with my theme of informing the reader on helpful actions that could be taken if needed. This information comes from Stanford’s Health Care program. â€Å"What Is Obesity?† Obesity Action Coalition, obesityaction.org/get-educated/understanding-your-weight-and-health/what-is-obesity/. This article covers what obesity is, and what it means in society. Covers what the causes of obesity can be and what obesity is not. I’m approaching this article because I want to inform what obesity is and how obesity is affecting people’s lives every day. There are many different links that are affiliated with this website with other reliable sources that could have a connection to this article. Birch, L L, and A K Ventura. â€Å"Preventing Childhood Obesity: What Works?† Nature News, Nature Publishing Group, 13 Apr. 2009, nature.com/articles/ijo200922. This article is going to cover the specifics of childhood obesity. Starting with talking about when the rates of being overweight starts to go up a noticeable amount in North America regarding children. I am approaching this article to be able to inform the reader about where obesity starts and could be prevented easier, as children. This source is on Google Scholar so this is a scholarly source making it reliable.

pch network design Essay

pch network design Essay pch network design Essay Abstract When starting a healthcare business there is so much that is entailed when it comes to the networks and what options are available and what may be the right fit for the certain company. When the needs are laid out, then it would be better to decide what networks would work best. This can be the most difficult challenge in the company as if the wrong choices are made then this can be more money out of their pocket. The networks really make the company is what it comes down to. Network Design â€Å"The backbone network structure for the entire hospital is 1000 BaseT† (University of Phoenix, 2011, 2013). â€Å"Individual sections of departmental networks such as Radiology use different standards such as 1000 BaseF† (University of Phoenix, 2011, 2013). â€Å"The entire hospital has a complete power backup system with automatic cutover to a large diesel motor generator set. Individual departments have local UPS (Uninterruptible Power Supply) as depicted on the individual department network diagrams†. The 1000 BaseT is the main functioning part of the departments that can add anything that the system may need to work there for the particular specialty. Many of the individual departments have the 1000 BaseF, and many have their own system linked into the 1000 BaseT network, but it is not guaranteed that you will find this in all of the departments. In the University of Phoenix simulation (2011, 2013), HIPAA is strictly enforced and al l patient data files are encrypted for storage using AES (Advanced Encryption Standard) along with having the correct authorization to get into patient files. These systems work off of whatever it is that is beneficial for the particular department’s needs. The system that they have in place seems to be very efficient and effective in getting the job done for the needs of the hospital. â€Å"1000BaseT Ethernet, released as the IEEE 802.3ab standard, supports 1000 Mbps Ethernet (usually called Gigabit Ethernet) over Category 5 or higher UTP cable† (Tomsho, 2011, "Ethernet Standards"). 1000BaseT uses copper cables while 1000Base F uses fiber optic cables. Category 5 cable contains four wire pairs that allows 250 Mbps of data to be sent and received simultaneously in both directions across the wire pairs. A bandwidth of 1000 Mbps can be transmitted in each direction in full-duplex mode. 1000BaseT Ethernet is 100 times faster than standard Ethernet. Hybrids are used to combine multiple signals, while cancellers intercept interference. According to Tomsho (2011), upgrading to 1000BaseT is fairly simple because only NICs and switches that do not operate at 1000 Mbps need to be replaced not the entire cabling infrastructure. ("Ethernet Standards"). Gigabit Ethernet is most commonly used in LAN but it is also suitable for MAN because transmission takes place over fiber-optic cables. A downfall of this type of Ethernet is that it is susceptible to electromagnetic interference (EMI) which can cause devices to malfunction. The telecommunications that are currently being used by Patton-Fuller Hospital provide communication between the hospital, its staff and patients. The systems that are used help integrate the operating of the hospital for the patients. This is done by faxing, coping and printing of the records when needed. The right staffing must be hired that is fully knowledgeable of what the hospital needs to provide patients with the best care. Proper training has to be available to keep staff up to date about their job titles by videos, current position information and any information on any improvements that need to be communicated to help operations run to their maximum capability. The telecommunication lines must be open and up to date to handle all areas that the hospital will need for their patients like internet availability to access medical records and billing when needed, and all information must have authorization before any information is given or received. There are rules and

Challenges faced (Cultural, perceptional and religious perspective ) Research Paper

Challenges faced (Cultural, perceptional and religious perspective ) and acceptance of Islamic Finance in western (Non Islamic C - Research Paper Example Also discussed is the concern over Islamic finance allegedly supporting terrorism, and why some western countries equate Islamic finance with supporting terrorism. Some implications are highlighted and recommendations are then made based on the research as to how to deal with such issues and overcome the barriers to making Islamic finance more acceptable in Western countries. Although most Islamic banks are concentrated in Muslim countries, they are also to be found in many non-Muslim countries, especially in Europe and the U.S.). In addition, some conventional banks have also begun to offer Islamic financing schemes such as the HSBC Amanah division of HSBC Group established in 1998. Also, although several studies have been conducted on attitudes towards Islamic banking and the patronization of Islamic banks with reference to IFIs located in Muslim countries, some studies, albeit very few have also been conducted to gather the views and preferences of Western customers. A selection o f these IFIs located in Western countries is also the focus of attention and the few studies referred to above are mentioned. General perceptions of Islamic finance It proved to be difficult to ascertain the perceptions of Westerners towards Islamic finance due to a lack of studies in this area. Most studies have examined customers from Muslim and other developing countries. To give an example of one significant study, Erol & El-Bdour (1989) studied attitudes towards Islamic banking in Jordan. They used a nine-part question/statement instrument and showed that religious motivation was not such an important factor as a fast and efficient service, reputation and image, and confidentiality. Nonetheless, a general awareness of Islamic banks and their methods was evident. Sudin et al. (1994) conducted a more extensive study among both Muslims and non-Muslims in Malaysia. The three most important criteria for non-Muslims were firstly, friendliness of staff, secondly a fast and efficient s ervice, and thirdly the bank’s image and reputation. Another study on Malaysian customers showed that although most of them did not have a complete understanding of Islamic financial products, they did not differentiate between products from Islamic and conventional banks (Hamid & Nordin, 2001). In another study, Gerrard & Cunningham (1997) surveyed the attitude towards Islamic banking among Singaporeans where Muslims are in a minority. It was found that non-Muslims were generally lacking in awareness of Islamic banking. Furthermore, whereas Muslims were mainly motivated by religious reasons besides profitability, and had little interest in getting a high interest rate on savings, it was the opposite situation for non-Muslims. It is a similar situation in Turkey (Okumus, 2005). Even in non-Muslim countries like India where Muslims form a significant proportion of the country’s population, awareness of IFIs was low at the turn of the present century (Munawar & Llewellyn , 2002: 188). Less than half of the 720 persons interviewed knew that they even existed. This general finding of non-Muslims being more motivated by reasons other than religious ones could be the case in Western countries as well among non-Muslims that do use Islamic finance. However, during the past decade there has probably been an increasing awareness

Does the internet make you smarter or dumber Essay

Does the internet make you smarter or dumber - Essay Example Shirky states that those who are opposed to the development of the influence of the internet on a global scale are backward individuals who are against advancement; that they are the enemies of progress. The statements made by Shirky can be said not to show the true picture concerning the internet; that while it has some uses, it is also working towards making individuals dumber than in previous generations. This is because of the fact that while plenty of information can be found within it, this information tends to be extremely shallow and does not encourage reflection by those who have access to it. The internet is slowly but surely leading to less reliance on books and more on unsatisfactory online sources which barely have enough information which can be used to come up with proper conclusions. It can be said that a world without books would be a dreary place within which to live because books have traditionally been the means of transmitting knowledge from one generation to another. Through books, issues are discussed more deeply and in the process, the reader gets to have a better understanding of the subjects being discussed. This is not true of the internet, because it is o ften scarce in content and this creates a situation where individuals get only a shallow understanding of the subject matter. This makes it extremely difficult for knowledge to be transmitted and the lack of this knowledge, it is possible, might end up making people dumber. The use of the internet for the purpose of getting information might end up creating a society which is not equipped to deal with the issues of day to day life and it may instead become artificial. While one would agree with Shirky that the internet has become of immense use for the purpose of gaining instant information, it can be said that it should not be the only source of information. Instead, it should be

Management Accounting (I WILL UPLOAD THE SUBJECT) Assignment

Management Accounting (I WILL UPLOAD THE SUBJECT) - Assignment Example Under the following sections, each of the budget and projected financial statements are briefly discussed along with the assumptions taken to complete these projections. Assumptions 1. There are two types of raw materials to produce the final product named as Kungfu and Jodu respectively. 2. As far as the labour is concerned, two types of labour, is used according to their level of skills namely as skilled and non-skilled labour. 3. The company has invested in two types of capital expenditures such as furniture and equipment. Other non-current assets are acquired on rentals by the company. 4. Two selling prices are set by the company for first and last six months of the year such that the selling price for first six months is set to be ?300 and for the last six months, it is set as ?320 per unit. 5. For material and labour prices, it is assumed that these prices will remain same in the whole year. 6. For overheads, it is assumed that they are going to be 60% of the labour cost. 7. Cl osing stock is estimated to be 15% of the sales volume of the upcoming month. 8. Collection for sales is to be completed in such a manner that around 70% of the sales are to be obtained in the month of sales whereas the remainder of the collection is going to be completed in the next month. 9. For purchases, the company has estimated that around 80% of the purchases are going to be made in their corresponding months whereas the remaining amount will be paid in the next month. 10. For other expenses like labour and overheads, the payments are to be made the moment they arise. 11. Around ?2,500 is going to be taken out in the form of drawings every month by the owners. 12. Income tax rate is going to be applied at 30% of the income before tax. 13. The rate of depreciation is set to be 30% with the straight-line method Discussion Unit Cost The unit cost of the product â€Å"Karate† consists of three basic ingredients such as direct material cost, direct labour cost and overheads (Kinney and Raiborn, 2009). The total unit cost of Karate is expected to be ?221. If this per unit cost is split in all three components, direct material consumes around ?165, direct labour consumes around ?35 and overheads constitutes around ?21. Budgets The product budgeting purpose is served with the preparation of six kinds of budgets namely as Fixed Expenditure, Sales, Purchases, Production, Direct Labour, and Cash Budget. Comprehensive figures are accounted for the preparation of these budgets such that each budget consists of, not only having the annual figures but also monthly figures. Since this is the first year of the operations of the business, therefore, it is assumed that the start-up capital of the business is ?50,000. The following discussion takes into account each budget briefly: The fixed expenditure budget consists of ?50,000 cumulatively such that the business has planned to spend ?45,000 at the start and ?5,000 after six months of the start of the business. Fo r furniture, ?10,000 amount is reserved and for equipment, ?40,000 will be used. As far as the sales budget is concerned, 300 units are anticipated for the sale purpose in the 1st three months, followed by 365 units in the next six months and in the last quarter, the sales unit are expected to be 400 units. The

Mother Teresa Essay Example | Topics and Well Written Essays - 2250 words

Mother Teresa - Essay Example This paper stresses that Mother Teresa was always passionate about missionary life and was able to locate any missionary on the map and tell their service given at each place. This probably led later to becoming a missionary herself. Let us take two different theories of Personality – Entity theory and Incremental theory and try to apply it to Mother Teresa’s life. Entity theory states that personal qualities, which are inherited or learnt from the parents or at home, are stable over the time. Incremental theory stresses that personal traits are changeable and can be developed over the time. This report makes a conclusion that she was much influenced by her mother for caring, loving and helping young and old, rich and poor all alike and to believe in God and to pray. Her mother Drana made sure that her children never wasted their time and had a helping mentality towards the poor and needy. This was deep rooted in Mother Teresa’s mind from her childhood and stayed till her death. This supports the entity theory. It just kept improving and she made her area of service broader by treating the sick and the dying. Loving and caring for children and poor was innate in her. Treating the sick was an acquired skill though the urge to do so came from within. Mother Teresa believed that God asked her to take care of the less privileged and thereafter she put her entire life into fulfilling God’s demand. So the aspect of treating the sick and dying can be attributed to the incremental theory.