Is Facebook Marketing Effective Research Paper Example | Topics and Well Written Essays - 2750 words

Is Facebook Marketing Effective - Research Paper Example The methodology that I have opted for this research is qualitative methodology, as I will involve the available literature for answering the question of my research that is â€Å"Is Facebook marketing effective?†. Qualitative methodology involves literature review in which, the reviewer can make use of available information to analyze his topic and find answers to questions raised in a study. Literature review is quite beneficial as the student gets a chance to collect useful information pertaining a topic of his own interest and can reuse this information for finding solution to the problems in his study. For this study, literature review is much more suitable. Internet is an attractive medium for different kinds of businesses operative in today’s world. A rapid increase can be seen in e-commerce and internet marketing activities all over the globe. People of all ages show interest in the usage of this network as they can connect with the whole world. Social networking websites can be categorised as the most likable platform for all the users of internet. Among many other social networking websites, Facebook is one. Businesses and e-businesses all over the world give significance to Facebook as a social networking site suitable for advertising purposes. A large number of internet users make use of Facebook for their routine communication with their mates and the interest of businesses and e-businesses in Facebook point towards the fact that market is aware of the importance of Facebook to reach its customers. Marketing or advertising on Facebook is quite essential in today’s scenario when the businesses can find a large number of potential customers there (Arntz, 2009). While using Facebook, we can notice a number of advertisements on the site, which advertise different categories of services and products. We can find banner ads, side bar ads, separate advertising pages, Facebook profiles of companies and so on and all these category of ma rketing comes under the category of eMarketing. According to Liptak (2009), these ads usually take the users of Facebook on their clicking the ad to the descriptive page of the advertisement showing contact description and other important data about the advertised product or service. Not only the ads take the users to the internal pages of Facebook but to other websites keeping descriptive information about company, products and services. E-commerce websites, content based websites and other websites delivering information display various banner ads and side bar ads for the promotion of products and services of companies whether they are online firms or offline firms as these are the most common categories of internet advertising. According to Ducoffe (1996), e-commerce websites can be described as websites that can be seen on internet for international customers, they are designed for broad range of customers and people can access them for the provision of services and products. Th e e-commerce websites provide the ordered or purchased products and services at the homes of consumers. Therefore, it can be said that for e-commerce websites, which are themselves based on internet processing, can make use of internet advertisements for their business promotion. Ducoffe (1996) explains that e-commerce websites have eased the process of shopping. These websites not only bring to light their marketing campaigns on their own websites but also on other websites. Content-based websites also display various categories of internet ads in the form of banner ads and side bar ads. These websites are designed for information deliverance purposes and are able to

Organic Food Market in Hong Kong - Environmental Scan Essay Example for Free

Organic Food Market in Hong Kong Environmental Scan Essay ?Global trend of organic food In 1950s, consumers are starting to aware of organic product and in 1970s to 1980s, organic sector start to develop, e. g. set up regulation and certification around the world. In 1990s, the organic food market has a sharp growing, expanding at 20% a year. In 2006, the sales of organic baby food were increased 21. 6%. There are also has dramatically increase in variety, availability and decreasing the cost of organic food. ?Local trend of organic food. At the end of 1980s, there were many cases happened in Hong Kong that poisonous crops which are contaminated with pesticide, people in Hong Kong raise their awareness of health. Until 1990s, Organic foods have been selling in Hong Kong, most of them are imported from North America, Australia, New Zealand, Europe and Japan. In the few years ahead, consumption of organic food is increasing. In 2000s, the local market has a strong demand on fresh organic foods. International Trade Centre (ITC ) done a set of survey and observed some trends of Hong Kong. For example, there are more convenience organic food such as pre-packed organic salads; some public canteens and catering buy more organic food; provision of organic products with biodegradable packaging. Major competitor In Hong Kong, there are three major type of retail shops is selling organic food. First type is supermarket, e. g. Park n’ shop and Welcome are two major chains. Second type is department stores, e. g. Citysuper, Seibu, Jusco, Sogo. Third type is specialty healthy food shops, around 50 to health food shops selling organic, health and diet-supplement foods. Consumer ?General type of consumer Hong Kong Organic Resource Centre (HKORC) release the result of a survey on 7 Jan 2005, it shows that 30% of the respondents had purchased organic foods. It also shows us the people who are interested in buying organic food are high education qualification, executives, managers or professionals, and they are usually with a higher total household income, married and/or with children. The meaning of organic food in consumer view In Hong Kong people’s mind, â€Å"organic food† has the similar meaning as â€Å"healthy food†, they also care about the nutritional value and image of the product. The best selling of organic foods in Hong Kong are baby food, rice cake, grains, fruit juice and breakfast cereals, so we can see Hong Kong people are more health-conscious now.

Pulse :: Movies Entertainment Media Essays

Pulse Pulse is superficially many movies. It is a 2001 vehicle for director Kiyoshi Kurosawa to gain international reputation. It is a teen horror movie. It is a ghost story. How one reads this movie determines, to a large extent, what one sees in it. And while this means we cannot hope to discover one already present Truth waiting for us in the ebbs and flows image and sound that comprise the film, we can still interpret film and give contesting interpretations over the facts and implications of every frame and every sweeping plot summary. To offer one such plot synopsis now, the movie is â€Å"basically† about two separate groups of young Japanese men and women coming into contact, through information technology and forbidden rooms, with ghosts whose mysterious effects remove the population of the planet and drive the only survivors the film shows onto a ship headed to Latin America. One group, of whom only one survives, works in a greenhouse and happens upon the ghosts thr ough a computer wizard friend, who immediately kills himself. The other pair are at the University and come upon ghosts both through computer-illiterate Kawashima and through a graduate student who makes a â€Å"miniature model of our world†. I will consider Noà «l Carroll’s cognitive psychological model of horror film, and then Steven Shaviro’s theory of The Cinematic Body, offering, between the two, a path of interpretation of the film in details and broader theme. First I will try to imagine Pulse within the model of cognitive psychology suggested by Noà «l Carroll. The movie, as horror film, is a narrative of curiosity. This can take place in a scientific model of observation, hypothesis formation, testing the hypothesis, and confrontation. However, it could potentially take place in any particular expression of curiosity (e.g. surrealist, playful, theological or paranoiac), in any (sub/counter)culture, indeed multiple curiosities should be possible all at once. This explains Pulse a bit like the graduate student: the (scary) problem is mysterious, so we (audience/some narrative force) can and will investigate in order to deal with â€Å"the problem†, and satisfy our desire to know. The theory addresses itself to watchers of horror films, but depends on the unfolding of a narrative of discovery. At other levels than the sweeping plot of the entire film, the theory offers more insights.

Integration of Social Media, Ethics, and Privacy Policies In the Emplo

Introduction The year is 2013, so there is no surprise that the general public use technology for the majority of our daily lives. We use it for entertainment, business, and day-to-day communication. We also use it to keep in touch with family, friends and old acquaintances. Technology has especially been beneficial for the workplace. Telecommuting and teleconferences are just a couple of alternatives to old fashioned face-to-face business. This, and the rise of various social media sites throughout the past decade has shaped the modern business world. Through these sites, people can share interests, opinions, life events, and random day-to-day activities immediately. With the social media movement growing rapidly every day, the amount of information flowing through cyber space has become harder to contain and protect. To many, privacy is now considered a lost concept. Social media has also become an important tool to use in business and hiring processes. In the minds of human resource departments everywhere, social media sites can be considered a helpful one-stop shop for determining whether or not a candidate is ideal for employment. Sites such as Facebook, for example, can provide employers with insight into a potential employee’s pastimes with a few clicks. A few searches can shed light on violent tendencies, or one’s history with past bosses, supervisors and others in higher positions. Discovering information like these can affect a candidate’s persona and the employer’s initial hiring decisions. White 2 There are many impending questions regarding using social media as a selection tool. First, is it ethical? Does the employee have a right to know if their online profiles are being searched? Are they required to give their ... ..." Labor Law Journal (n.d.): 86-102. Business Source Complete. Web. 25 Oct. 2013. Genova, Gina L. "No Place to Play: Current Employee Privacy Rights In Social Networking Sites." Business Communication Quarterly (2009): 97-101. Business Source Complete. Web. 25 Oct. 2013. McGarvey Hidy, Kathleen, and Mary Sheila E. McDonald. "Risky Business: The Legal Implications of Social Media's Increasing Role In Employment Decisions." Journal of Legal Studies in Business 18 (2013): 69-107. Business Source Complete. Web. 25 Oct. 2013. Mello, Jeffrey A. "Social Media, Employee Privacy and Concerted Activity: Brave New World of Big Brother?" Labor Law Journal (2012): 165-73. Business Source Complete. Web. 25 Oct. 2013. Rao, Pramila. "Are Social Networking Sites Good Recruitment Sources?" Clashing Views in Human Resource Management. New York City: McGraw-Hill, 2011. N. pag. Print.

Post Mortem results and findings of the entire project Essay

This MEMO will cover the benefits and drawbacks of a Post Mortem review. It will notify all who are going to be required to partake in the final review meeting. It will also go over what we hope to discover after the termination of the project. Post Mortem Review Pros and Cons Pros: Gives an unbiased review of the project’s life. Enables project manager to analyze the findings of the review and improve on certain aspects in the next project that need attention. Gives a good perspective of everything that was accomplished. This enables the team and manager to feel a sense of pride and satisfaction from job well done. Once the review has been analyzed, it enables the project to officially come to a close. Cons: Hard to ensure all key players, stakeholders, and managers attend the meeting during such an early time of the newly integrated system’s life. Personnel Required to Attend: Certain people within the company are expected to attend the post mortem review meeting either in person, or by telephone conference. These people include: all of the managers who attended the training and were involved throughout this project. Stakeholders, owners, top officers, the project team, and the developers of the new system need to be in attendance. Hopes: The project team and manager hope to discover the following: The overall success of the project. Any downfalls or shortcomings that came up. The owners’ opinions of the end result. The managers’ opinions. The developers’ notes on how well the managers’ were trained. The thoughts of the project team and how they feel improvement could be made.

How an Extended Response Item Can Enhance Learning

How an Extended Response Item Can Enhance Learning Extended response items have traditionally been called essay questions. An extended response item is an open-ended question that begins with some type of prompt. These questions allow students to write a response that arrives at a conclusion based on their specific knowledge of the topic. An extended response item takes considerable time and thought. It requires students not only to give an answer but also to explain the answer with as much in-depth detail as possible. In some cases, students not only have to give an answer and explain the answer, but they also have to show how they arrived at that answer. Teachers love extended response items because they require students to construct an in-depth response that proves mastery or lack thereof. Teachers can then utilize this information to reteach gap concepts or build upon individual student strengths. Extended response items require students to demonstrate a higher depth of knowledge than they would need on a multiple choice item. Guessing is almost completely eliminated with an extended response item.  A student either knows the information well enough to write about it or they do not. Extended response items also are a great way to assess and teach students grammar and writing. Students must be strong writers as an extended response item also tests a students ability to write coherently and grammatically correct. Extended response items require essential critical thinking skills. An essay, in a sense, is a riddle that students can solve using prior knowledge, making connections, and drawing conclusions.  This is an invaluable skill for any student to have. Those who can master it have a better chance of being successful academically.  Any student who can successfully solve problems and craft well-written explanations of their solutions will be at the top of their class.   Extended response items do have their shortcomings. They are not teacher friendly in that they are difficult to construct and score.  Extended response items take a lot of valuable time to develop and grade.  Additionally, they are difficult to score accurately.  It can become difficult for teachers to remain objective when scoring an extended response item. Each student has a completely different response, and teachers must read the entire response looking for evidence that proves mastery. For this reason, teachers must develop an accurate rubric and follow it when scoring any extended response item. An extended response assessment takes more time for students to complete than a multiple choice assessment.  Students must first organize the information and construct a plan before they can actually begin responding to the item.  This time-consuming process can take multiple class periods to complete depending on the specific nature of the item itself. Extended response items can be constructed in more than one way. It can be passage-based, meaning that students are provided with one or more passages on a specific topic. This information can help them formulate a more thoughtful response. The student must utilize evidence from the passages to formulate and validate their response on the extended response item.  The more traditional method is a straightforward, open-ended question on a topic or unit that has been covered in class.  Students are not given a passage to assist them in constructing a response but instead must draw from memory their direct knowledge on the topic. Teachers must remember that formulating a well written extended response is a skill in itself.  Though they can be a great assessment tool, teachers must be prepared to spend the time to teach students how to write a formidable essay.  This is not a skill that comes without hard work.  Teachers must provide students with the multiple skills that are required to write successfully including sentence and paragraph structure, using proper grammar, pre-writing activities, editing, and revising.  Teaching these skills must become part of the expected classroom routine for students to become proficient writers.

Moi Non Plus - French Expression Explained

Moi Non Plus - French Expression Explained The French expression moi non plus ​(pronounced [mwa no(n) plu]) expresses agreement with a negative statement. Its the equivalent of the English statement me neither or neither do I. It literally translates to me no more and its register is normal.  Note that moi can be replaced by a name, a noun, or another stressed pronoun: Pierre non plus - neither does Pierre, Pierre doesnt eithermon mari non plus - neither does my husband, my husband doesnt eitherles professeurs non plus - neither do teachers, teachers dont eithertoi non plus / vous non plus - you either, neither do yoului non plus - him either, neither does heelle non plus - her either, neither does shenous non plus - us either, neither do weeux non plus / elles non plus - them either, neither do they Examples Tu naimes pas le jazz ? Moi non plus.You dont like jazz? Me neither / Neither do I. Sandrine ne veut pas y aller, et moi non plus.Sandrine doesnt want to go, and neither do I. Nous navons pas dargent, toi non plus ?We dont have any money, you (dont) either? Je ne peux pas taider, et Dany non plus.I cant help you, and neither can Dany. You can also use non plus with a negative adverb or pronoun:Je naime pas le jazz non plus.I dont like jazz either. Il ne parle personne non plus.Hes not talking to anyone either. And you can use non plus on its own, in which case there is no simple English equivalent: -Nous navons pas de thà ©.-Et du cafà © ?-Non plus.-We dont have any tea.-What about coffee?-(We dont have) that either.

Physicalism v Dualism Essays

Physicalism v Dualism Essays Physicalism v Dualism Essay Physicalism v Dualism Essay Physicalism v Dualism-the Mind/Body Problem In philosophy there are a number of different views when It comes to the mind/ body problem. The mild/body problem Is the problem of explaining how the mind relates to the body. One of these views is called dualism. Dualist utilize Leibniz law to support their argument that the mind and body are two different things. On the other hand there is also another group of philosophers called physicality. Physicality claim that everything including psychological aspects are tangible and they use a concept called modes of presentation to support their beliefs against dualism. In this paper I will be further explaining Leibniz law and how it is used by dualism. I will also go into the modes of presentation concept and how physicality use it as a response to dualism. Leibniz law, also known as the Indiscernible of Identicalness, states that If A and B are one and the same thing, then A must have all the same properties of B and vice versa. For example If Spenserian can shoot webs out of his wrists, and Peter Parker Is Spenserian, Then Peter Parker can also shoot webs out of his wrists. Here A is Spenserian and B is Peter Parker. Leibniz law would also imply that if A and B have efferent properties, then A and B cannot be one and the same thing. For example, lets say that I look out the window and I see Spenserian swinging by on his spider web. I wonder who Spenserian is. Now as Spenserian is swinging by, I see my buddy Harry Osborn standing besides me. Using Leibniz law, I reason like this: Spenserian is swinging by on a spider web. Osborn is not swinging by on a spider web; he is standing right besides me. In this example, Spenserian Is A, and Osborn is B. Spenserian has a property that Osborn does not, so using the law, we can confidently say that Osborn Is not Spenserian and Spenserian Is not Osborn. When It comes to supporting their beliefs, dualist specifically employ the second type of example, that A Is not one and the same with B. Dualists believe that the basic components of the universe consist of fundamentally two different types of things. There are purely physical objects and properties, and there are also purely mental or non-physical objects and properties. The mental or non-physical objects being the mind aspects (e. . Beliefs, desires, pain), and the physical objects being the body aspects (e. G. Limbs, brains, organs). No non-physical/mental objects have shape, color, mass, etc UT all physical objects do. You cannot say that youre beliefs are pink or that your senses are big, but you can say that your brain Is pink and your arm Is big. We also know that non-physical/ mental aspects can have Intensities, and that physic al objects cannot. For example you cannot say that youre brain or Its parts are Intense, but you can say that youre headache is intense. Giving physical objects aspects that only non-physical things nylon or vile versa Is an example AT a category maltase. Dualist utilize ten examples of category mistakes and Leibniz law as arguments for dualism. The way dualist use Leibniz law is by saying the following: F is true for the non- physical/mental thing; F is not true of the Physical thing; therefore the non physical/ mental thing is not the same as the physical. Where the non-physical/mental is A, the physical is B, and F is something that if attributed to A is true, but if attributed to B would be a category mistake and is therefore false. For example: Your headache is painful; your brain and its parts are not painful; therefore your headache is not your brain or its parts. This can be used the other way, where A is the physical and B is he non-physical/mental. For instance you can say: Your brain and its parts have mass and color; your psychology and its aspects have no mass or color; therefore your psychology is not your brain or its parts. There are numerous other examples like these that dualist use to show how physical properties are not the same as non- physical properties and how they are two completely different things. These are also the types of arguments that physicality attack and use to undermine the dualist belief. Physicality, as I mentioned in the beginning, claim that everything in the universe s physical and that all of the psychological or mental aspects are also physical. This argument is of course completely opposite of what dualism claims and is in fact a response to dualism. Physicality use something called the modes of presentation in an attempt to show how dualist are thinking of things in the wrong way. They say that the mind is identical to the brain Just like Spenserian is identical to Peter Parker. They are presented in different ways but they are essentially the same person and can do the same things. The modes of presentation concept and how physicality use t as a counterexample to dualism and can be explained with the following example: To Mary Jane, Spenserian swings around New York using his super powers to fight crime and attempt to keep the Justice in the city; Also to M], Peter Parker does not swing around New York using his super powers to fight crime and attempt to keep the Justice; therefore, to M], Spenserian is not Peter Parker and Peter Parker is not Spenserian. But, we know that in fact Peter Parker and Spenserian are one and the same, MS, through her ignorance fails to realize this. In this case MS is committing something known as intentional fallacy because she fails to recognize that Spenserian and Peter Parker are the same person, or have the same extension. Intension is the way that a word or name is linked to an extension. Extension is everything to which a name or a term can be applied to. So the extension of Spenserian can be applied to a man that has super powers that allow him to shoot webs out of his wrists and climb walls, Just to name a few. So you can say that an extension of Spenserian is Peter Parker. Thats why MS would be committing intentional fallacy, because she doesnt believe that the intension attached to Spenserian and Peter Parker has the same extension. The way physicality use this against dualism is by saying that in their arguments, dualist are in fact committing the same intentional fallacy that MS is committing Walt superman Ana Peter Parker. Encyclicals calm Tanat your Drain NAS a Pensacola mode of presentation as well as a psychological/mental mode of presentation. They are two different modes of presentation, but like Spenserian and Peter Parker, they are one and the same thing. We are only able to see the physical mode of presentation from the way we look at the brain, but we are unable to see the psychological/mental mode because it is beyond us. For example, physicality would argue that your belief that you are reading this paper is identical to a part of your brain; they are Just unable to pinpoint which part that is exactly, but of course they say it will eventually be possible to do so. They also say that if you look at your beliefs in the psychological/mental mode of presentation, it doesnt have color, but in physical mode it does. We have to think of beliefs and all the psychological aspects in a physical mode of presentation. Thinking this way would allude to the conclusion that whatever is true of the brain is also true of the mind.

Consolidation Case Study Example | Topics and Well Written Essays - 750 words

Consolidation - Case Study Example The preparation of the consolidated financial statements DOES NOT involve any adjustments to the financial statements of either the parent or the subsidiary companies. In this case, the parent is Batman and the subsidiary is Robin. A. This means that the investing company, Batman is willing to pay more that the total value of the stockholder's equity. There are many good reason why companies agree to pay more than the acquired company's actual net worth. some of the reasons are: A. The pre acquisition journal entry is also known as the elimination entry. The journal entry made such as investment in subsidiary is credited. The original entry where the stockholders' equity amounts are credited is now debited. The main reason for such pre -acquisition entry is to produce a correct combined financial statement where the assets, liabilities and stockholders' equity accounts are lumped together. Based on the above declaration, the dividends declared after acquisition is bigger than the dividends declared before acquisition. The main reason is that the income derived from combined financial statement shows that the is higher then the pre acquisition net income.

Aberdour Rocky Shore Essay Example | Topics and Well Written Essays - 500 words

Aberdour Rocky Shore - Essay Example The report will be aimed at addressing certain issues regarding the analysis of the information obtained through the collected data. Comparison between the Zonation Patterns of Site A and Site B Site A and Site B do not appear to have similar zonation patterns. For example, at a vertical height of 4.79 m above the water line at Site A, the % cover statistics for orange and grey lichens are 5 and 30 respectively. Above 4.82 m from the water line at Site B, the % cover statistics for orange and grey lichens are 5 and 5 respectively. Hence, the scope of symbiotic colony of fungi and algae is limited at Site B. Again, % cover of fucus vesiculosus in Site A at .83 m above the water line is 30 while that in Site B at the same height is 10. Site B, therefore, appears to be less habitable by the seaweed population. This can be suggestively explained by topological variations. Rock structures in Site B appear to be more rugged, hence there are greater tidal activities in the splash fringe lev el. This might have given rise to a washing mechanism that created different zonation patterns in Site B as compared with Site A. Differences between Exposed and Sheltered Shores In the exposed rocky shore, splash zones are large and there is maximum splashing from due to the waves. The area is dominated by organisms which can cling on tightly (for example, limpets and barnacles).

Process Report Essay Example | Topics and Well Written Essays - 1500 words

Process Report - Essay Example Working with polarities/dualities -- body and mind, duty and pleasure, straight and gay -- very much set the mood of this and past sessions and has been very challenging for me. Challenging because it brought me back to the way I was processing some aspects of my life, when I felt it was safer to be at one side or another of the spectrum, rather than the middle where unpredictability would jeopardise my safety and make me feel anxious. In (2T), when I asked Andrew what type of medication he was taking, I learned how little he has revealed to the assessor and indeed to me in the previous sessions. For example, he has not revealed to anyone that he is going to therapy or his doubts about his sexuality, and his depressive condition. The latter makes me aware of some kind of similar narratives that I could encounter in other therapeutic alliances. I feel that with Andrew I am struggling to follow the rhythm and the pace he gave to the session. The ‘dance’ between us sometimes goes out of synch, as he unexpectedly stops and starts (with his silences and overwhelming recounts). This produces in me a constant vigilant state that makes the therapeutic relationship very tiring. However, there are also times in this unsynchronised dance where I am in and out of our therapeutic alliance; the ‘in time’ is when I am present and part of the client’s world and the ‘out’ is when I am the spectator of his world. During this time I move back into my own space where I can reflect and try to make sense of my, his and our world. I am realising more and more the wide river that runs through the client’s intellect and the solid bridge that we need to construct to be able to move freely from one shore to the other. Sometimes I feel that building that bridge is a huge task, and I wonder if we will succeed. The doubt is possibly to do with Andrew being my first client and the complex world

Managerial Support Systems Assignment Example | Topics and Well Written Essays - 250 words

Managerial Support Systems - Assignment Example Even though the overall market for the overall retail online market still represents less than 5% of the retail market the trend is toward online sales becoming a driving force during the 2nd decade of the 21st century . The future customers with the highest potential buying power are the generation Y members. Along with this group all internet users expect and desire certain things from corporate websites. One of the first things a customer desires in a website is good information. The information about the firm’s product must be presented in a way that the client receives and reads about the best attributes about the product or service and how it is better than the competition. A corporate website serves the dual purpose of serving both customers and other stakeholders. A stakeholder group that utilizes a lot the information provided in websites is investors. Investors of corporations expect the annual report to be available within the corporate website. Other information the investors and potential clients expect from customer is information regarding the corporate responsibility efforts of the firm. Corporate responsibility has become strategic focus that can make a major difference in a corporation’s bottom line. There are different things that a company could perform to improve the services and the quality of its web presence. Customers like to receive up to date data and information and quick service when they make an inquiry. A way to ensure the customer receives the fastest service possible is include in a corporate website an interactive communication system. Online customers expect much more from businesses nowadays. A corporate website should include either a forum or an online communication system that provides an instant chat room for the customer to communicate with a customer service representative in real time. A website can substitute the need of having a full time staff of customer representatives working at a call

Contract Law Essay Example | Topics and Well Written Essays - 2250 words - 2

Contract Law - Essay Example Amber has made an offer to pay David  £20,000 after supplying the computer software. David accepted the offer and by commencing to fulfil his obligations, David has simply accepted to be bound by the terms of the contract. The terms of the contract are that David would be paid  £20,000 and finish the contract by 30/05/04. Therefore there exists one of the essentials of a valid contract i.e. consensus and ideam a part from offer and acceptance. This principle refers to a ‘meeting of the minds’. It must be shown that both parties understand the subject matters of the contract before agreeing (assenting). None of the parties i.e. between David and Amber can deny knowledge to the terms of the contract. However, an offer terminates if a counter offer is made to them. This is a reply to an offer whose effects is to vary the terms of the original offer. A counter offer extinguishes the original offer and the person to whom it was originally made cannot move it. However, it can result in a contract if its terms are accepted by the original offers.

Managerial Support Systems Assignment Example | Topics and Well Written Essays - 250 words

Managerial Support Systems - Assignment Example Even though the overall market for the overall retail online market still represents less than 5% of the retail market the trend is toward online sales becoming a driving force during the 2nd decade of the 21st century . The future customers with the highest potential buying power are the generation Y members. Along with this group all internet users expect and desire certain things from corporate websites. One of the first things a customer desires in a website is good information. The information about the firm’s product must be presented in a way that the client receives and reads about the best attributes about the product or service and how it is better than the competition. A corporate website serves the dual purpose of serving both customers and other stakeholders. A stakeholder group that utilizes a lot the information provided in websites is investors. Investors of corporations expect the annual report to be available within the corporate website. Other information the investors and potential clients expect from customer is information regarding the corporate responsibility efforts of the firm. Corporate responsibility has become strategic focus that can make a major difference in a corporation’s bottom line. There are different things that a company could perform to improve the services and the quality of its web presence. Customers like to receive up to date data and information and quick service when they make an inquiry. A way to ensure the customer receives the fastest service possible is include in a corporate website an interactive communication system. Online customers expect much more from businesses nowadays. A corporate website should include either a forum or an online communication system that provides an instant chat room for the customer to communicate with a customer service representative in real time. A website can substitute the need of having a full time staff of customer representatives working at a call

International Business Essay Example | Topics and Well Written Essays - 500 words - 16

International Business - Essay Example No doubt, the country observed negative economic growth due to worst economic recession during 2008 – 2009, which reduced its per capita income from $14,500 to$13,500. The total labor force of this nation is estimated to be 47 million out of which nearly 5% is unemployed. The share of two major industrial and services sectors in GDP is nearly 33% and 63% respectively. In addition, there is special attention over use of modern technology and latest equipments at private and public offices, educational institutions, hospitals, households etc., which is why the manufacturing and imports of durable consumer products and electronics are ranked number 2 across Mexico. In the light of above statistics, it is justified to argue that Overhead Projectors (OHP) are although locally manufactured (to some extent) by domestic industry, yet they are heavily imported from China, Canada, India Japan, USA etc. (CIA World Fact Book, 2010). Unfortunately, the researcher has failed to garner statistics regarding total demand of office equipments or OHPs as well as on import volume of the chosen product. Indeed, it should be highlighted that there is no data available on internet that could provide near-to-accurate idea of demand of OHPs in quantitative terms. However, some of the major suppliers of Overhead Projectors include 3M Mexico, Hotline CPT Ltd, Cartridge Plus Inc., Vcom International Multimedia Corporation etc. are some of the international companies that have been supplying computer accessories and overhead projectors across lucrative Mexican market. As far as the quality and useful life of OHPs are concerned, it is worthwhile to mention that various local and international brands of OHPs are available in Mexican market having useful life of 2000 – 15,000 hours. The better the quality and useful life, the higher the prices charged from sellers. In other words, the prices are in a range of $500 - $4,000 depending upon quality, life, brand

Starbucks Coffee Essay Example for Free

Starbucks Coffee Essay I. Strategic Problem: How can Starbucks Coffee Corporation continue to provide exceptional employee benefits package while pursuing a globalization strategy? II. Analysis of the Problem: A. Company Background and History: 1. Founders. a. Starbucks began in 1971 when three scholars-English teacher Jerry Baldwin-history teacher Zev Siegel, and writer Gordon Bowker- opened a store called Starbucks Coffee, Tea and Spice in the touristy Pikes Place Market in Seattle. b. The inspiration and mentor for the Starbucks venture in Seattle was a Dutch immigrant named Alfred Peet, who had opened Peets Coffee and Tea, in Berkeley, California, in 1966. c. Starbucks Coffee at this time stood for making top-quality, fresh-roasted, whole-bean coffee which was its differentiating feature. d. The company was created to build clientele in Seattle that would appreciate the best coffees and teas. e. Baldwin and Bowker key mission for their business was to maximize the quality of the coffee. The company purchased the finest Arabica coffees and put them through a meticulous dark-roasting process to bring out their full flavors. f. In 2000, Howard Schultz transitions from chairman and CEO chief global strategist; Orrin Smith is promoted to president and CEO. 2. Starbucks and Howard Schultz. a. In September 1992, Howard Schultz was hired at Starbucks. b. Schultzs 1983 trip showed him that there was much more to the coffee business than just providing quality beans. On his trip to Milan, Italy he had a revelation which made him see going to Starbucks should be an experience, a special treat, a place to meet friends and visit. c. Howard Schultz presented his great idea to expand Starbucks to a retail business. They feared that providing drinks would hurt them because it could hurt the integrity of Starbucks mission as a purveyor of fine coffees. d. In April 1984 , Starbucks opened its sixth store which was the first of the companys stores designed to sell beverages, and it was the first one located in downtown Seattle. The sixth store did well with the espresso bars but Baldwin felt that they were coffee roasters and their debt was too high to divest into the restaurant business. e. Schultz left Starbucks left in 1985 to start his own company. f. In March 1987, Howard Schultz, president and CEO, took Il Giornale Coffee Company to form Starbucks Corporation. B. Overview of Retail Industry 1. Financial Situation and Performance. a. Starbucks goal is to become the leading retailer and brand of coffee in each of its target markets by selling the finest coffee and related products, and by providing superior customer service. b. Company-operated retail stores accounted for approximately 85% of net revenues during fiscal 2003. c. Specialty Operations accounted for approximately 15% of net revenues in fiscal 2003. d. Starbucks went public on June 26, 1992 at $17 per share, or a split adjusted price of $1. 0625 for the companys four subsequent 2-for-1 stock splits (wwww. starbuckscoffee. com). e. Comparing Starbucks financial ratios to that of the Industry can give us a general perspective of Starbucks financial strength. This could also give some indication of stock price performance. Most of Starbucks ratios are in line with the industry average, but there are a few that could explain the poor stock performance recently experienced. Starbucks price to earnings ratio is well above the industry average, but this could be due to its relative high growth it has experienced. Return on equity is well below the average for the industry, and this could be an area of concern. This suggests that the investment made by shareholders in the firm has not produced a decent return when compared to the industry average. Starbucks gross margin is also below the average for the industry, suggesting that it is not able to cover its operating expenses as well as other firms in the industry. C. Management Practices and Philosophies 1. Howard Schultz and Benefit Program a. Schultz wanted to build a company that really valued their employees and would gain from their contribution towards the company b. In late 1988 part-timers working 20 or more hours were offered the same health coverage as full-time workers. c. Starbucks paid 75 percent of an employees health care premium; the employee paid 25 percent. Starbucks extended its health coverage to include preventive care, crisis counseling, dental care, eye care, mental health, and chemical dependency. d. In 1995, Starbucks implemented an employee stock purchase plan. e. Schultz believed that if you treat your employees well, that is how they will treat your customers. 2. Workplace Environment a. Store employees were paid around $9-$12 an hour. b. The turnover rates for Starbucks baristas ran about 65 percent. c. Starbucks turnover for store managers was about 25 percent. d. Schultzs approach to offering employees good compensation and a comprehensive benefits package was driven by his belief that sharing the companys success with the people who made it happen helped everyone think and act like an owner, build positive long-term relationships with customers, and do things in an efficient way. D. Products and Services 1. Customer Service a. Employees were trained to go out of their way, and to take heroic measures if necessary, to go out of their way, and to take heroic measures if necessary to make sure customer were full satisfied. b. The theme was Just say yes to customer requests. Baristas made sure that customers got what they wanted. Shultzs rationale was that if you treat your employees well, that is how they will treat customers. 2. International Expansion a. Starbucks created a new subsidiary, Starbucks Coffee International, to orchestrate overseas expansion and begin to build the Starbucks brand name globally via licensees. b. Starbucks Coffee International division was only marginally profitable, with 2003 pretax earnings of only $5. 5 million on sales of $603 million. c. International journey began in 1966 when the first Coffeehouse in Tokyo opened. d. Starbucks Coffee has existing partnerships with 38 countries abroad. There are more than 1500 coffeehouses in 31 markets outside North America. 3. Local Stores. a. The company sites location track record was so good that as of 1997 it had closed only 2 of the 1,500 sites it had opened; its track record in finding successful store locations was still intact as of 2003. 4. Product line at Starbucks a. Starbucks CDs, initially created from the Capitol Records library, initially created from the Capitol Records library, provided a significant seller and addition to the product line. b. In the fall of 2003 Starbucks, in partnership with Bank One, introduced the Duetto Visa card, which added Visa card functionality to the reloadable Starbucks card E. Competition 1. Competition. i)Their competitors are not a threat because their market share is doing extremely well. III. Situational Analysis: A. Strengths, Weakenesses, Opportunites, and Threats: a. Starbucks, like many other companies had some strengths and weaknesses. One of the best strengths that a company can have is a CEO who is not afraid to take a chance and try knew things. Before Shultz came over to Starbucks the company did not have any plans of major growth or product expansion. Companies should always have knowledge of what they are selling and that is what Starbucks did. They knew everything that there was to know about coffee and if they didnt they would find out. Starbucks always prepared all of their managers and employees by sending them to training seminars and classes to learn how to roast the perfect bean, brew the perfect cup and how to serve each customer correctly. Starbucks believed in quality of its products and the character and location of its stores. b. Companies all have strengths, but they also have weaknesses to. Weaknesses were very easy to see when the company was first put together. Baldwin and Bowker were very narrow-minded and had no desire to expand the company very far. The two were also afraid to try knew things such as starting an Espresso bar and a sit in area where people can sit around, talk and make new friends. Though after Shultz took over the company, it seemed as though the weaknesses started to dissolve and the opportunities began to grow. c. Shultz took advantage of the opportunity to expand the company into new areas and markets. Entering new markets brought forward the idea of creating new product lines. d. They started by selling bakery good at the espresso bars and along with selling their beans, they began to sell their Starbucks Barista home espresso machine. Opening the Espresso bar also enabled them to see the CDs that the company played while customers sat and drank. Partnering with Dreyers and Pepsi enabled Starbucks to put their name on ice cream products and the cold beverage market by creating the bottled Frappuccino. This enables the company to earn an additional profit. e. Expanding too fast is one of the most important threats that Starbucks may encounter. Opening all these new stores at such a drastic rate can cause the company to endure major debt. Debt can cause a series of chain reactions leading to lower wages, cutting benefits, closing stores and laying off workers. These are not major threats now, but at an uncontrollable rate, this is one of the main threats that can really affect the future of Starbucks Coffee. IV. Strategic Alternatives: a. Class or program that breaks down the Starbucks Coffee lingo b. Diversity Training programs c. Discontinue joint ventures. d. More Opportunity for Community Involvement Initiatives e. Reconsidering Store Placement V. Evaluation of Alternatives: A. A lot of the customers do not understand the names of the Italian drinks, names of cups, and origin of coffee beans so this class would be give the baristas drink makers an opportunity to learn how to explain the language of the company better. The directors of the board will probably not be content with this idea because it would add an extra expense to implement the program but it would benefit the employee and the customer in the long run. B. Starbucks is all about embracing diversity so this program would encourage exposure to other cultures and an opportunity to learn from others in order to broaden horizons. Starbucks tries to hire all different races so that it will create an eclectic atmosphere in each of its stores. C. Joint ventures can hurt the company imagine because less regulation of your product/service will possibly ruin your image with your shareholders and customers. D. Although, community involvement is encouraged at Starbucks it is not required. They should implement a program that lets all the partners get together once a month and go out and possibly clean up a park in the local community, for example. As a partner, I feel that this program will give each partner an opportunity to get closer to their fellow co-workers as well as making a difference in the community. Not all partners will be excited about spending time with others because they might have other plans or just like to go to work and not spending quality time outside the store. E. They need to reanalyze the density of each store in order to make sure that the closeness of the stores is not taking away from the profit of the other stores. Having more stores means more overhead cost being used because you need to supply each store with all the products. Spread out the stores so that they are not competing with each other, so that will adhere more profit. More store location could possibly mean more revenue coming into the company and the cost of invested into the store will be obtained in a small time frame so it would not be a loss. VI. Recommendations: ?In order for Starbucks Coffee Company to continue its success it must find more innovative ways to provide superior customer service. Starbucks Coffee is known for its exceptional service provided by its baristas. The baristas are content when they are continued to be given a benefit package. Although the benefit package is quite nice, Starbucks needs to find different ways to continue to motivate its employees and the incentives will vary depending on location. Although monetary incentives are a big plus they only motivate employees for so long. Employees enjoy awards that recognize their exceptional contribution, gift certificates, and feeling part of a team that becomes their family away from home. VII. Operational Problems and Recommendations: 1)A lot of the customers complain in the price of the products and drinks. Most of the pricing of the products depends on how the economy is doing. Recently, last year there was a . 10 cent increase due to increase in milk and price of coffee beans. The company had to raise their price in drinks in order to compensate the increase in price of their products. 2)The company should change advertising channels. Most of the companys advertisement is by word of mouth because customers are very content with the product or service. VIII. Conclusion: Currently Starbucks Coffee Corporation is a public company that has been highly profitable while maintaining international market share. As growth both domestically and globally are undertaken the companys image will continue to flourish. The company needs to be aware that as it grows domestically and internationally it takes on more responsibilities. The benefit package it offers to its employees is quite remarkable but at the same time be aware that each county has different political and cultural barriers. As the company keeps expanding, it will need to take several precautions that will prepare them for any financial scares.

A Concept Analysis of Advanced Nursing Practice

A Concept Analysis of Advanced Nursing Practice Introduction The idea of advanced practice in nursing presents a challenge to the general nurse in terms of exploring scope of practice and potential professional development (An Bord Altranais, 2000; Thompson and Watson, 2003). There appears to be a lack of clarity in defining the concept of advanced practice (Thompson and Watson, 2003), with terms such as specialist practice, consultant nursing roles and the like clouding the waters of the debate, suggesting a need to perhaps amalgamate and standardise roles (An Bord Altranais, 2000;) . This author, as a Community General Nurse in Ireland, is aware of two advanced practice roles within her own practice area: one within the Accident and Emergency Department, an acute care facility, and one within Education, which straddles the academic/practice divide. However, the changing and developing role of the nurse and rapid changes towards higher levels of practice (NMC, 2002; Thompson and Watson, 2003; Lorentzon and Hooker, 2006) seems to suggest that advanced practice may be an integral part of career progression within nursing (An Bord Altranais, 2000), which leads to a need to clarify the concept and map its components and meanings. Concept analysis and conceptual clarification form an identifiable genre within the nursing literature (Paley, 1996). This essay will follow one model of concept analysis to map the concept and explore the implications for practice through an exemplar model case. Concept Analysis Concepts and theories within science are strongly linked (Paley, 1996), and both seem to be interdependent. Concept analysis enables the definition of a concept and allows the critical reader to differentiate between similar and dissimilar concepts (McKenna, 1997). Achieving conceptual clarity is an important task for both research and practice (Walker, 2006). There are a range of concept analyses that have been used within scientific and nursing literature. Morse (1995) suggests that techniques to map concepts should relate to the maturity of the concept concerned. In this case, Advanced Practice is an extant concept which demands clarification in relation to specific areas of nursing activity. Therefore there is a need to determine a means of concept delineation and clarification (Morse, 1995). There is also a need to identify an appropriate means of clarifying the concept, for example whether or not to utilise qualitative or quantitative methods (Morse et al, 1996.) In this instance, a qualitative approach based on Rodgers (1989; 1991;1993) model of concept analysis will be utilised. This particular model has been chosen because of its firm grounding in research traditions of sociology and nursing (McKenzie, 2000). The Rodgers’ approach has already been utilised to map evolving phenomena (Walker, 2006) and so is particularly applicable to a still developing topic area. As Rodgers’ approach is an inductive, cyclical approach (Walker, 2006), it is a more creative endeavour suitable to the generation of new ideas and definitions. A literature review will be carried out, in a targeted manner, utilising a structured approach (see Table 1). Table 1 Framework for concept analysis Identify concept of interest List published literature relevant to the topic and select papers to be included in the sample Identify surrogate terms and relevant uses of the concept. Identify and select appropriate sample for data collection. Identify the attributes of the concept Identify the references, antecedents and consequences of the concept. Identify concepts that are related to the concept of interest Identify a model case of the concept. The Process of Analysis. Concept of interest McKenna (1997) suggests that when choosing a concept, it is best to select a concept that represents phenomena of interest to the researcher. McKenna and Cutcliffe (2005) also suggest that there should be some confusion or lack of consensus about the concepts’ meaning, but the scope should not be too broad. The concept of interest is advanced nursing practice in community general nursing, which is related to the author’s own area of practice and experience of practice delivery. This concept also meets McKenna’s (1997) stipulation that the concept should also be abstract enough o retain its meaning when removed from specific situations. Therefore, the concept of advanced nursing practice is being analysed, with reference to one specific area of practice but not limited by that practice. Surrogate Terms Higher Level of Practice Specialist nursing practice Role of the Specialist nurse and consultant nurse Professional Development in Nursing Community nursing practice Sample Please see Appendix for the audit trail of sample selection. Attributes of the Concept The concept of advanced practice is not a new one (Carroll, 2002). Clinical nurse specialists have been cited since the 1940s (Carroll, 2002). It is a nursing concept (Carroll, 2002) despite being associated with advanced practices traditionally carried out by the medical profession (Mantzoukas and Watkinson, 2007). The literature is in agreement that the concept of advanced nursing practice lacks agreement on the core characteristics and roles of such a practitioner (Mantzoukas and Watkinson, 2007). The concept is related to specialism (Mantsoukas and Watkinson, 2007) suggesting that the role emerges as a unique expression of need within a distinct area of practice (Gardner and Gardner, 2005). Hamric (1996) links advanced nursing practice to practical, theoretical and research based interventions within a specific clinical area linked to the larger discipline of nursing. However, it can also be a more general theoretical construct of any form of nursing which progresses to an advanced level of practice (Mantzoukas and Watkinson, 2007). Evidence does seem to suggest that similarities between specialist nurses and clinical nurse specialist roles and between nurse practitioner and advanced nursing practice roles (Carnwell and Daly, 2003). Therefore it would appear that an eclectic set of role schema have emerged from the general stew of advances in nursing practice. Bryant-Lukosius et al (2004) further define the term advanced nursing practice as referring to the work, or to what n urses actually do in their roles, but also makes reference to the multi-dimensional scope and mandate of the concept. Specific attributes of the concept include the ability to discover, innovate and expand the nursing profession by employing multiple types of knowledge and skills, support by research evidence and academic thinking processes (Mantzoukas and Watkinson, 2007). Other attributes are: the use of the knowledge in practice; critical thinking and analytical skills; clinical judgement and decision-making skills; professional leadership and clinical inquiry; research skills; mentoring skills; and the ability to change practice (Mantzoukas and Watkinson, 2007). Furlong and Smith (2005), analysing the edicts of the National Council in Ireland, describe the core concepts of advanced nursing practice as: autonomy in clinical practice; clinical and professional leadership; and expert practitioner and researcher. All of these appear to relate meaningfully to nursing as a profession but do not address the application of the role to patient outcomes and clinical effectiveness. However, Benner et al (1 999) relate critical thinking to active thinking in practice, the application here being evident. This would then relate to clinical judgement, but the question arises of acceptability of nurses undertaking clinical decision making in the current NHS climate. References, antecedents and consequences of the concept Antecedents or prefixes to the concept include the notion of education and individual roles, historical development of the profession (Carroll, 2002), and advanced roles as part of the development process of the nursing profession (Mantzoukas and Watkinson, 2007). In order for the advanced nursing role to exist, there must be an identified need for such a role in specific areas of nursing practice (Caroll, 2002; Mantzoukas and Watkinson, 2007). In particular, the need to perform specific nursing tasks, interventions and clinical monitoring for individual conditions may be viewed as an antecedent (Gardner et al, 2004). Specialist preparation and legislative/professional evolution are also antecedents (Mantzoukas and Watkinson, 2007). Education for advanced nursing practitioners is linked to research-derived curricula and learning defined by clinical practice (Gardner et al, 2004). However, education and specialist preparation of the advanced practitioner in nursing could also be viewe d as a consequence, as specific programmes of education have had to be developed in response to the developments of these nursing roles (Gardner et al, 2004). Consequences include lack of role clarity (Carroll, 2002; Griffin and Melby, 2006) and the notion of the mini-doctor role which leads to nursing practice being carried out within a medical model rather than the optimal holistic nursing model (Carroll, 2002). This would have an impact on nurses themselves and their professional self concept, and on the client/patient, affecting the type and perhaps quality of their care. It might also lead to the erosion of general nursing roles in favour of specialisation, again following a medical model of professional development (Mantzoukas and Watkinson, 2007). However, other literature sees advanced nursing practitioners as being a result of recent health care policies, the role having developed to meet the complex demands of health care systems (Carnwell and Daly, 2003). Another professional consequence of the concept is the need for regulation and supervision (NMC, 2002). In relation to this is the development and evolution of professional nursing autonomy (Mantzoukas and Watkinson, 2007). The expansion of advanced roles can also be seen as a consequence of the concept, whereby established areas of advanced practice pave the way for its implementation in a range of specific clinical areas (Mantzoukas and Watkinson, 2007). This may be related to practice development ensuring that nursing remains responsive to the changing needs of patients and clients (Thompson and Watson, 2003). This related to another consequence of advanced practice, ongoing change in clinical practice (Mantzoukas and Watkinson, 2007). However, it could be argued that practice development is an antecedent to the concept of advanced nursing practice as well, echoing the blurred nature of the concept from a range of perspectives. Autonomy could also be viewed as a consequence (Wade, 1999). The fact that advanced nursing practice is valued within the healthcare arena is also an important factor (Dunn, 1997; Griffin and Melby, 2006), and makes its most important consequence improvement in patient outcomes and the associated improvements in healthcare and reduced demand on resources (Coster et al, 2006: Gardner and Gardner, 2005). Concepts related to the main concept One concept related to advanced nursing practice is fitness for practice (Thompson and Watson, 2003; NMC, 2002). Another is that of barriers and resistance to advanced practice, particularly in relation to the current NHS climate (Thompson and Watson, 2003). Systems and processes must be in place and be effective for advanced practice to establish itself and its efficacy (Gardner and Gardner, 2005). Policy background and political drive are also related to this particular practice development (Carnwell and Daly, 2003). The international or global scope of the concept is also evident from the literature sampled here (Bryant-Lukosius et al, 2004; Sutton and Smith, 1995). Nurse prescribing and authority in pharmacological intervention is another related concept (Lorentzon and Hooker, 2006). Model Case. Patient K, a 65 year old woman had been referred to the author (a community RGN), due to a recurrent, chronic leg ulcer on the left ankle. This ulcer had been treated for some years with topical preparations and dressings, including antibiotic treatment and a variety of therapeutic dressings, and the involvement of other professionals such as dietician and physiotherapist had attempted to address potential underlying causes of failure to heal, such as lack of mobility and poor diet. However, after some deterioration in the condition of the ulcer, increased haemoserous loss and offensive odour, K attended the GP and was referred by the practice nurse to the wound specialist clinic at the local outpatient department. The clinical wound specialist nurse reviewed K’s case, identified the ulcer as a venous ulcer and prescribed four-layer pressure bandaging to treat the wound, based on her own awareness of the research evidence that demonstrated the efficacy of this intervention. The four-layer bandaging technique improves venous return in the lower extremity by providing a gradient of pressure from the bottom of the lower limb towards the knee. The specialist nurse engaged K in a degree of learning about her condition and its treatment, in order to ensure compliance. The four-layer bandages are left on for two to three days at a time, then removed to dress the ulcer, then replaced with clean four-layer bandages. They can be uncomfortable, and so patient compliance is important in the success of treatment. The specialist nurse spent time with the client, informed her of the rationale and evidence base, and then further contacted this author, her community general nurse, to ensure that those treating K were fully competent in the four-layer bandaging technique. She also advised K to return to her for regular review of her condition. Within 12 weeks the ulcer was healed, which greatly pleased K and allowed her discharge from nursing care. This case demonstrates many of the features defined by the concept analysis of advanced nursing practice. The advanced practice developed out of a defined need for a specialist wound clinic staffed by specifically trained and experienced staff. The specialist nurse occupies a senior role with a large degree of autonomy. She has been educated in her specialism, utilises evidence-based practice, and engages in an educative role with clients and with non-specialist nurses, demonstrating the components of expert practice but also advancing the expertise of those around her (Benner, 1994). Conclusion Professionalizing forces in nursing, clinical need and extension and changes in primary health care appear to have combined to create new roles for nurses in the NHS (Lorentzon and Hooker, 2006). These roles appear to have functional bases defined by gaps within service provision and focus on client need. Therefore, given this concept analysis, it would appear that advanced nursing practice is a needs-driven development of specialist nursing management to provide optimum clinical outcomes for client and service provider. Such practice is evidence based and provided by a trained, competent clinician with the academic and experiential authority required to implement theory into practice, bridging the theory-practice gap through exemplary implementation of clinical judgement (Upton, 1996). It can also be viewed as a logical outcome of continuing professional development within nursing. This author’s role within the community nursing team encompasses a range of nursing challenges, one of which has been described here. It is through liaison with such specialists that the community nurse can facilitate evidence-based practice and bridge the theory-practice divide which continues to challenge the achievement of best practice in every clinical situation. However, it is also evident that there is a need for further clarification and consensus around such roles and better awareness of the scope of advanced nursing practice both within individual specialisms and in the wider realm of NHS nursing care. This author can see that the role of the community general nurse itself could be further developed into an advanced nursing role, drawing on the successes of such roles in other areas, but this would need policy, systems and ideological change to achieve. Ultimately, if the results are demonstrable improvements in patient outcomes, it would be well worth the challenge. 2,500 words. References An Bord Altranais (2007) http://www.nursingboard.ie. Accessed 13-4-07. Benner, P., Hooper-Kyriakidis, P. Stannard, D. (1999) Clinical Wisdom: Interventions in Critical Care WB Saunders: Philadelphia. Benner, P. (1984) From Novice to Expert California: Addison-Wesley Publishing Company. Bryant-Lukosius, D., DiCenso, A., Browne, G. Pinelli, J. (2004). Advanced practice nursing roles: development, implementation and evaluation. Journal of Advanced Nursing 48 (5) 519-529. Carnwell, R. Daly, W.M. (2003) Advanced nursing practitioners in primary care settings: an exploration of the developing roles. Journal of Clinical Nursing 12 (5) 630-642. Carroll, M. (2002) Advanced Nursing Practice. Nursing Standard 16 (29) 33-35. Castledine, G. McGee, P. (eds) (1998) Advanced and Specialist Nursing Practice Oxford: Blackwell Science. Coster, S., Redfern, S. Wilso-Barnett, J. et al. (2006) Impact of the role of nurse, midwife and health visitor consultant. Journal of Advanced Nursing 55 93) 352-363. Cutcliffe, J.R. McKenna, H.P. (13005) The Essential Concepts of Nursing Edinburgh: Churchill Livingstone. Dunn, L. (1997). A literature review of advanced clinical nursing practice in the United States of America. Journal of Advanced Nursing 25 (4) 814-819. Furlong, E. and Smith, R. (2005) Advanced nursing practice: policy, education and role development. Journal of Clinical Nursing 14 (9) 1059-1066. Gardner, A. and Gardner, G. (2005) A trial of nurse practitioner scope of practice. Journal of Advanced Nursing 49 (2) 135-145. Gardner, G., Gardner, A. Proctor, M. (2004) Nurse practitioner education: a research-based curriculum structure. Journal of Advanced Nursing 47 (2) 143-152. Griffin, M. Melby, V. (2006) Developing and advanced nurse practitioner service in emergency care: attitudes of nurses and doctors. Journal of Advanced Nursing. 56 (3) 292-301. Hamric, A.B. (1996) A definition of advanced nursing practice. In Hamric, A.B., Spross, J.A. and Handson, C.M. (eds) Advanced Nursing Practice: An Integrated Approach Philadelphia: WB Saunders. Lorentzon, M. Hooker, J.C. (2006) Nurse Practitioners, practice nurses and nurse specialists: what’s in a name? Journal of Advanced Nursing. Mantzoukas, S. Watkinson, S. (2007). Review of advanced nursing practice: the international literature and developing the gneric feature. Journal of Clinical Nursing 16 (1) 28-37. McKenna, H. (1997) Nursing Theories and Models London: Routledge. McKenzie, N. (2000) Review of Concept Analysis. Graduate Research in Nursing www.graduateresearch.com Accessed 13-4-07. Morse, J.M. (1995) Exploring the theoretical basis of nursing using advanced techniques of concept analysis. Advances in Nursing Science 17 (3) 31-46. Morse, J.M., Hupcey, J.E., Mitcham, C. Lenz, E.R. (1996) Concept analysis in nursing research: a critical appraisal. Scholarly Inquiry in Nursing Practice 10 (3) 253-277. Nursing and Midwifery Council (2002) Higher Level Practice www.nmc-uk.org Accessed 13-4-07. Paley, J. (1996) How not to clarify concepts in nursing Journal of Advanced Nursing 24 (3) 572-578. Rodgers, B.L. (1989) Concepts, analysis and the development of nursing knowledge: the evolutionary cycle. Journal of Advanced Nursing. 14 330-335. Rodgers, B.L. (1991) Using concept analysis to enhance clinical practice and research. Dimensions of Critical Care Nursing 10 28-34. Rodgers, B.L. (1993) Concept analysis: An evolutionary view. In: Rodgers, B.L. Knafl, K.A. (Eds.) Concept Development in Nursing: Foundations, Techniques and Applications Philadelphia: WB Saunders. Sutton, F. Smith, C. (1995) Advanced nursing practice: new ideas and new perspectives. Journal of Advanced Nursing 21 (6) 1037-1043. Thompson, D. Watson, R. (2003) Advanced nursing practice: what is it? International Journal of Nursing Practice 9 (3) 129-130. Wade, G.H. (1999) Professional nurse autonomy: concept analysis and application to nursing education. Journal of Advanced Nursing 30 (2) 310-218. Walker, W.M. (2006) Witnessed resuscitation: a concept analysis. International Journal of Nursing Studies 43 (3) 377-387. Appendix Audit Trail The search engine/gateway British Nursing Index was accessed and searches were carried out utilising the following keywords with their associated hits: Advanced Nursing Practice Higher Level of Practice Specialist nursing practice Role of the Specialist nurse and consultant nurse Professional Development in Nursing Community nursing practice The list of returned citations was further limited by defining parameters as follows: Full text English Language Nursing. Peer-reviewed Research Original Articles. The express aim was to review 20% of the returned citations, leaving the author with a targeted sample of articles from a range of nursing journals including Journal of Advanced Nursing; Journal of Clinical Nursing; Advances in Nursing Science; International Journal of Nursing Practice; Dimensions of Critical Care Nursing; International Journal of Nursing Studies; Nursing Standard; Graduate Research in Nursing. The focus of the concept analysis being Advanced Nursing Practice, only those articles which deal specifically with this concept were included in the sample.

Observational Learning of Violent Behavior Essay -- essays research pa

Today violence has become an every day experience in life. Playing video games or turning on the television, and flipping through the channels at random, you will most likely stumble upon various forms of violence. Does it desensitize or help us tolerate violence? And the most controversial issue, does it cause violence? Most humans learn by simply watching, and then imitating the action rather than trial and error or direct experiences of the consequences of our actions (this is not to say that watching and imitating is the only way of learning). This method of learning is called observational learning. The highly recognized psychologist with observational learning is Albert Bandura. Bandura’s theory states that observational learning is the result of cognitive processes that are actively judgmental and constructive opposed to mechanical copying. Bandura created an experiment to prove his theory. The experiment consisted of three different films, and four year old children that watched them separately. On each of the three films, a female adult aggressively played with a Bobo doll (hit, punch, kick, throw, etc.). The only differences in the three films were the endings. One ending showed the woman being rewarded with soft drinks, candy, and snacks, after playing with the Bobo doll aggressivel y. The other version of the film portrayed punishment by scolding and spankings by other adults, after performing aggressive behaviors towards the Bobo doll. In the last film the aggre...

Portrayal of Puritan Society in Hawthornes The Scarlet Letter :: Scarlet Letter essays

Portrayal of Puritan Society in Hawthorne's The Scarlet Letter      Ã‚  Ã‚   In the introductory sketch to Nathaniel Hawthorne's novel the "The Scarlet Letter", the reader is informed that one of the author's ancestors persecuted the Quakers harshly. The latter's son was a high judge in the Salem witch trials, put into literary form in Arthur Miller's "The Crucible" (Judge Hathorne appears there). We learn that Hawthorne feels ashamed for their deeds, and that he sees his ancestors and the Puritan society as a whole with critical eyes. Consequently, both open and subtle criticism of the Puritans' practices is applied throughout the novel.       Hawthorne's comments have to be regarded in the context of the settlers' history and religion. They believe that man is a creature steeped in sin, ever since Adam and Eve's fall from innocence. To them, committing the original sin strapped human beings of their own free will, so that God now decides about their lives. Everything that happens is seen as God's will, and providence plays an important role.       Through the sacrifice and righteousness of Christ, however, there is a chance for people to be saved. One cannot definitely know who will be saved, although pious and faithful people are of course more likely to. The experience of conversion, in which the soul is touched by the Holy Spirit, so that the believer's heart is turned from sinfulness to holiness, is another indication that one is of the elect. Faithfulness and piety, rather than good deeds are what saves people. If someone has sinned, public confession is believed to take some of the burden of this sin off him.       The initial reason for the Puritans to leave their homes was the treatment they had to suffer from in their native England. They were brutally persecuted and were not allowed to practise their religion, because they said that the beliefs taught by the Anglican church were against the Bible. When they arrived in the New World, they were confronted with numerous threats from the outside. Their trying to take land away from the Indians caused many fights and attacks. Moreover, they had to deal with the total wilderness surrounding them. Under these frontier conditions, they needed harmony and peace inside the community in order to survive.       As a result, Hawthorne's founding fathers immediately saw the necessity to Portrayal of Puritan Society in Hawthorne's The Scarlet Letter :: Scarlet Letter essays Portrayal of Puritan Society in Hawthorne's The Scarlet Letter      Ã‚  Ã‚   In the introductory sketch to Nathaniel Hawthorne's novel the "The Scarlet Letter", the reader is informed that one of the author's ancestors persecuted the Quakers harshly. The latter's son was a high judge in the Salem witch trials, put into literary form in Arthur Miller's "The Crucible" (Judge Hathorne appears there). We learn that Hawthorne feels ashamed for their deeds, and that he sees his ancestors and the Puritan society as a whole with critical eyes. Consequently, both open and subtle criticism of the Puritans' practices is applied throughout the novel.       Hawthorne's comments have to be regarded in the context of the settlers' history and religion. They believe that man is a creature steeped in sin, ever since Adam and Eve's fall from innocence. To them, committing the original sin strapped human beings of their own free will, so that God now decides about their lives. Everything that happens is seen as God's will, and providence plays an important role.       Through the sacrifice and righteousness of Christ, however, there is a chance for people to be saved. One cannot definitely know who will be saved, although pious and faithful people are of course more likely to. The experience of conversion, in which the soul is touched by the Holy Spirit, so that the believer's heart is turned from sinfulness to holiness, is another indication that one is of the elect. Faithfulness and piety, rather than good deeds are what saves people. If someone has sinned, public confession is believed to take some of the burden of this sin off him.       The initial reason for the Puritans to leave their homes was the treatment they had to suffer from in their native England. They were brutally persecuted and were not allowed to practise their religion, because they said that the beliefs taught by the Anglican church were against the Bible. When they arrived in the New World, they were confronted with numerous threats from the outside. Their trying to take land away from the Indians caused many fights and attacks. Moreover, they had to deal with the total wilderness surrounding them. Under these frontier conditions, they needed harmony and peace inside the community in order to survive.       As a result, Hawthorne's founding fathers immediately saw the necessity to

Consideration Essay

An Agreement here is defined as every promise and every set of promises, forming the consideration for each other, is an agreement defined under section 2(e) of Indian Contract Act, 1872. Making a contract is simply a way of facilitating amongst other things, the exchange of goods and services. Under a contract the, parties voluntarily assume their obligations or undertakings. Consideration is the recompense given by the party contracting to the other. 2. Consideration is the price for which the promise of the other is bought, and the promise thus given for value is enforceable. 3. Consideration means something which is of some value in the eyes of the law. 4. A valuable consideration in the sense of the law, may consist either in some right, interest, profit or benefit accruing to the one party or some forbearance, detriment, loss or responsibility given, suffered or undertaken by the other. If a bargain gives a party a choice of alternative obligations, each alternative on its own must constitute sufficient consideration for the return promise. If a promise is void or voidable – e. g. , due to the incapacity of the promisor – the sufficiency of the consideration is not necessarily negated. The judges, when they exercise this power of interference, are playing an extrinsic test which frustrates the expectation of the parties. It does not follow however, that such a test is necessarily harsh, still less that it is illogical. In some of the cases the law is settled, other are shrouded in controversies; but in all of them the grounds of interference seems to be the same. Consideration made not be adequate and may, on occasion be extremely tenuous, but it must comprise ome element which can be regarded as the price of the defendant promise; and merely to repeat an existing obligation may well seem to offer nothing at all. It may be appreciated that a person, who by his official status or through the operation of the law is under a public duty to act in a certain way, is not regarded as furnishing consideration merely by promising to discharge the duty. For example, no one would expect a policeman to bargain with a citizen for the price of his protection. In the case stated the defendant argued that this meant that they were not obliged to pay for the large number if policemen who attend their ground at home matches because, in present conditions of crowd behaviour, a major police presence at the ground was necessary to preserve law and order. The Court of Appeal thought that there was a fundamental difference on the facts. In the Glassbrook case the threat to law and order was external to the parties since neither could call off the strike. In the present case, the defendant had voluntarily to put on their matches at times, typically Saturday afternoons, when large attendance and therefore large possibilities of disorder where likely, and when a substantial police presence could only be achieved by calling policemen of their rest days and paying large sum of overtime. The police authority were, therefore, entitled to be paid. When the plaintiff is bound by an existing contractual duty to the defendant : There is no consideration if all that the plaintiff does is to perform, or to promise the performance of, an obligation already imposed upon him by previous contract between him and the defendant – is illustrated by a group of thesis in the first half of 19th century. In this case the defendant where a firm of building contractors who entered into a contract for the refurbishment of a block of 27 flats. They sub – contracted the carpentry work to the plaintiff for 20,000. Although there was no formal arrangement to this effect, the plaintiff was paid money on account. After the contract had been running for some months and the plaintiff had finished the carpentry at 9 of the flats and done some preliminary work in all the rest, for which he had received some 16,200 on account, he found that he was in financial difficulties. This difficulties arose partly because the plaintiff had underestimated the cost of doing the work in the first place and partly because of faulty supervision of his work men. The plaintiff and the defendants had a meeting at which the defendants agreed to pay the plaintiff a further 10,300 at a rate of 575 per flat to be paid as each flat was completed. The plaintiff carried on work and finished some 8 further flats but only 1one further payment of 1,500 was made. The plaintiff stopped work and brought an action for damages. The defendant argued that they were not liable as they had simply promised to pay the plaintiff extra for doing what he has in any case obliged to do, that is to finish to the contract. The Court of Appeal might perhaps have found consideration in what Russell LJ described as the replacement of ‘a haphazard method of payment by a more formalised scheme involving the payment of the specified sum on the completion of each flat’ since it was clear that the under the original contract there was no express agreement for stage payments. 3. Composition with creditors : It has long been a common practise for the creditors of an impecunious debtor to make an arrangement with him where by each agrees to accept a stated percentage of his debt in full satisfaction. The search for a sufficient consideration to support so reasonable an agreement has caused the courts much embarrassments. It would appear at first sight to fall under the ban in Pinnel’s case, and such was the view adopted in 1804 by Lord Ellenborough. Two alternatives suggestions have been proffered. The first was the second thought of Lord himself. There was consideration for the composition, he suggested in 1812, in the fact that each individual creditor agreed to forgo part of his debt on the hypothesis that all the other creditors would do the ame. A moment’s reflection will expose the weakness of this argument. Such a consideration would, no doubt, suffice to support the agreement as between the creditors themselves. But, if the debtor sought to rely upon it, he would be met by the immediate objection that he himself had furnished to return for the creditors’ promises to him, and, as already observed, it is a cardinal rule of the law that the consideration must move from the promisee. A second solution is to say that no creditor will be allowed to go behind the composition agreement, to the prejudice either of the other creditors or of the debtor himself, because this would be a fraud upon all the parties concerned. The solution was suggested by Lord Tenterden in 1818 and supported by Willes J in 1863, and it has since won general approbation. But it is frankly an argument ab inconvenienti and evades rather than meets the difficulty. Where the plaintiff is bound by an existing contractual duty to a third party : When the plaintiff performs, or promises to perform, an obligation already imposed upon him by a contract previously made, not between him and the defendant, but himself and the third party. The question whether such a promise or a performance affords suficient consideration has provoked a voluminous literature – more generous, indeed, then the practical implications would seem to warrant. In a case mentioned here the defendant agreed to pay money to he plaintiff in return for the plaintiff promise (a) to execute a separation deed and b)to pay his debts to a third party. The promise to execute the separation deed raised questions of public policy but was held good consideration.

Mitb

Malaysian Treasury Bills (MTB) MTB are short-term securities issued by the Government of Malaysia to raise short-term funds for Government's working capital. Bills are sold at discount through competitive auction, facilitated by Bank Negara Malaysia, with original maturities of 3-month, 6-month, and 1-year. The redemption will be made at par. MTB are issued on weekly basis and the auction will be held one day before the issue date. The successful bidders will be determined according to the most competitive yield offered.Normal auction day is Thursday and the result of successful bidders will be announced one day after. MTB are tradable on yield basis (discounted rate) based on bands of remaining tenure (e. g. , Band 4= 68 to 91 days to maturity). The standard trading amount is RM5 million, and it is actively traded in the secondary market. Malaysian Islamic Treasury Bills (MITB) MITB are short-term securities issued by the Government of Malaysia based on Islamic principles. MITB are usually issued on a weekly basis with original maturities of 1-year.Normal auction day is Thursday and the results of successful bidders will be announced one day after, on Friday. Both conventional and Islamic institutions can buy and trade on MITB. The MITB are structured based on Bai' Al-Inah principle, part of sell and buy back concept. Bank Negara Malaysia on behalf of the Government will sell the identified Government's assets on competitive tender basis, to form the underlying transaction of the deal. Allotment is based on highest price tendered (or lowest yield).Price is determined after profit element is imputed (discounting factor). The successful bidders will then pay cash to the Government. The bidders will subsequently sell back the assets to the Government at par based on credit term. The Government will issue MITB to bidders to represent the debt created. MITB are tradable on yield basis (discounted rate) based on bands of remaining tenure (e. g. , Band 4= 68 to 91 da ys to maturity). The standard trading amount is RM5 million, and it is actively traded based on Bai ad-Dayn (debt trading) principle in the secondary market.

Article Review about White Collar Crime Essay Example | Topics and Well Written Essays - 1000 words

Article Review about White Collar Crime - Essay Example I also learned that the old cliche â€Å"honesty is the best policy† always works. I learned that the time has come for the accounting profession to adopt a zero telerance policy against wrongful and dishonest behavior. This assignment also made me realize that not all good intentions are laudable. Doing a good job does not necessarily mean that it is laudable act. There are orders from our superiors that are illegals such as â€Å"coooking the books† that should not be followed. Being a good soldier will not absolve an employee from such criminal act. I learned from the article that our employers cannot pushed or forced us to do it and we cannot be bullied into submission because we are protected by law against the commission of such illegal acts. Corollary to this, whistleblowing and stopping the act right there and then could be detrimental to the employee. It is better that to stay in the organization and just quietly collect evidences and approach a lawyer who has an experience in litigating such cases. Obtaining evidences that we do not have access to, even if our intention is good, will not hold in court because because one’s hands are also dirty. Above all, the motivation of those who whistleblowed was not necessarily out of monetary reward, but out of their conscience to stop the illegal act. 2. How the article relates to our class discussions. This relates to our class discussion in a way that the practice of ethical behavior prevents wrongful and dishonest behavior in the accounting profession and other similar profession. It also relates to the discussion that following orders of a superior is not always morally right especially if the order is unlawful. Being a good soldier will not and cannot absolve an employee from doing a wrongful and criminal act. It also relates to the discussion that the accounting profession demands a high standard of ethical behavior and that the time has come that such criminal act is no longer tolera ted. 3. Your analysis and thoughts, and whether you agree or disagree with the authors.    The article made me realized that the recent financial crisis and corporate scandals that recently rocked the news was caused by this unethical and criminal behavior as perpetrated by those in the white collar industry especially those belonging in the financial sector. I need not elaborate the consequence, but it is already enough to tell that such collective unlawful acts precipitated and slid this country and the whole global economy into recession that caused a lot of people to lose their jobs and their homes and made life difficult for all of us. This consequence stresses the need why there is a need for strong a ethical behavior enforced by the zero tolerance against a criminal behavior in the accounting profession and financial industry. It is an eye opener to realize how the author illustrated the point that good intention is not necessarily laudable. I agree with the author fully wh en it was discussed that it is not wise to stop an illegal act right there and then especially if we are still in the organization. It will be prudent to quietly collect evidences and seek the help of an experience lawyer. Considering the consequence of this dishonest behavior to the economy in general, I agree with the author that the penalty should far exceed the benefit derived from those wrong doing. It made the lives of a lot of people

BP Global Oil Spill in Gulf of Mexico & Its Affect on Local Businesses Research Paper

BP Global Oil Spill in Gulf of Mexico & Its Affect on Local Businesses - Research Paper Example Gulf of Mexico has been a home for as many as 36 Marine Protected Areas (MPA) accounting for 13 % of total MPAs throughout the nation in addition to the MPAs of the bordering States of Alabama, Florida, Louisiana, Mississippi and Texas waters totaling 75 not included in the national mainstream MPAs. Florida Keys National Marine Sanctuary and Flower Garden Sanctuary have been threatened by the oil spill which could implicate British Petroleum under National Marine Sanctuaries Act. The coral reefs have also been damaged by the oil haze extending for about 22 miles from the Deepwater Horizon site. The Act makes it liable for damaging any living or nonliving resource of national marine sanctuary affecting its conservation, recreational, ecological, historical, educational, cultural, scientific or aesthetic value. The Act provides for imposition of civil penalties as high as $ 100,000 on any person and each day of violation constituting a separate violation. Apart from civil penalties, re sponse costs, damages due to destruction, loss or injury plus interest are leviable under the Act. There are also other Acts such as federal Endangered Species Act, Marine Mammal Protection Act which can make BP liable for deaths of dolphins and sea turtles as a result.1 Background The above said blowout occurred at the BP’s Macondo well in the Gulf of Mexico resulting in the deaths of 11 workers who were on Transocean’s Deepwater Horizon Drilling rig. An estimated 4.9 million barrels of oil were spilled in the process. The wellhead was 1,500 m down below the sea water. The United States declared a moratorium on deepwater drilling until October 12, 2010. It is widely believed that the blowout could have been prevented but for the poor quality of equipment meant to prevent blowout.2 Known as the last-line of defense, the blind shear ram on the blowout preventer fixed on well head on the ocean floor would have crushed the drill pipe thus preventing a blowout. The blind s hear ram is believed to have failed for want of checks as simple as verifying whether the batteries had been sufficiently charged. BP’s investigation team is reported to have held that the well had been poorly designed. Offshore Pollution Liability Association (OPOL) where membership is voluntary provides for only a maximum liability of $ 250,000which is insufficient given the magnitude of loss resulting from the Gulf of Mexico incident. Although OPOL membership is a pre-condition for drilling license, there is no rationale for a voluntary membership. This is apt to weaken the legal control of the polluters who would claim that damages to biodiversity and ecosystem are indirect and therefore no compensation is payable.3 Marine oil spills are not unavoidable accidents. Adverse environmental conditions or any catastrophic events cannot be attributed to oil spills.4 The offshore drilling unit at the Deep Water Horizon was worth$365 million capable of operating in deep waters as low as 8000 feet and drill further down up to 30,000 feet. The drilling unit had been engaged in drilling an exploratory well 41 miles off the coast of Louisiana at the time of accident. The well from which oil spill started on April 20, 2010 was finally capped on July 15, 2010. The total damages to the company, environment and the coastal economy have been placed at $ 36.9 billion. Apart from human error and equipment failure, the U.S. Government’s failure to respond with damage control measure, media

Risk and Quality Management Assignment Example | Topics and Well Written Essays - 1250 words

Risk and Quality Management - Assignment Example – Analysis of Risk Management Strategy (2011) 5 Conclusion 6 Sources Cited 7 Appendix 9 Introduction Hedge funds employ a number of different risk management strategies for large scale capital management for private individuals, trusts, pension funds, and other corporate investors seeking return that beats the market averages in order to grow wealth. Some of the risk management strategies used by the Paulson & Co hedge fund include: long-short strategies, portfolio diversification, merger arbitrage, quant computer trading, momentum trading, or distressed asset accumulation. (Barufaldi, 2011) The first imperative of any hedge fund is that it does not lose money on any investment, or in the fund as a whole. The most successful hedge fund managers have such a large amount of capital under management that their investments may move the stock markets and inform other traders. Because of this, large scale capital management, as practiced by Paulson & Co. and other hedge funds, must proceed under unique constraints or restrictions to risk management in seeking to outperform not only the market indices in returns, but also in outperforming other hedge funds, mutual funds, private equity groups, and venture capitalists. This essay will analyze the use of risk management strategies in financial investments made by the by Paulson & Co hedge fund in order to determine the appropriateness of their application in wealth management. Paulson & Co - Risk Management in Hedge Funds John Paulson is a New York native and Harvard graduate who founded his own hedge fund, Paulson & Co., in 1994 on Wall Street. In 2005, Paulson developed a long-short risk management strategy for the fund that placed a large amount of capital in investments that were short the subprime mortgage market through a variety of means including shorting bonds, banking stocks, and real estate, as well as collecting â€Å"credit default swap† insurance obligations that were related to derivative ex posure. (Zschoche, 2008) According to experts, Paulson & Co’s risk management strategies paid off by returning 590 % in one fund and 350 % in another for a total of over $3.7 Billion USD. (Zschoche, 2008) The details of this investment strategy are retold in a book by Gregory Zuckerman, published in 2009, â€Å"The Greatest Trade Ever: The Behind-the-Scenes Story of How John Paulson Defied Wall Street and Made Financial History†. (Zuckerman, 2009) Paulson and Co. reported over $29 billion USD in total assets under management in 2010, making it one of the largest hedge funds in the world. (SharpeInvesting, 2010) Nevertheless, media reports suggest that the firm is down 20% in 2011, making a further review of the hedge fund’s recent risk management strategy since the 3rd quarter of 2010 in need of analysis. Paulson & Co. – Recent History Following Paulson’s success in ‘the world’s greatest trade’ in 2007-9, the hedge fund implemen ted an investment long term risk management strategy that heavily favored gold. Paulson & Co’s risk management strategy then involved placing more than $3.8 billion in gold bullion through ownership of the SPDR Gold Trust ETF (NYSE:GLD) . (Johnston, 2010) This investment included a total percentage of 16% of the total SPDR Gold Trust ETF in 2010. (Katz, 2010) The hedge fund’s broad strategy following the market crash of 2007-9 was to hedge the currency inflation inherent in Quantitative