HCS 440 Question 1 Assignment Example | Topics and Well Written Essays - 250 words

HCS 440 Question 1 - Assignment Example Time compares cash that is, thus, of exchange and its associations. Culture influences the quality in social insurance, which is a central measure. The effect of exchange and decision uncovers itself here as these two factors get wellbeing a ‘equilibrium state. Quality trade is significantly positioned on the limit of gathering premise instead of individual premise consequently conveyance of legitimate support of delay ones life regarding great medical procedure, very much prepared specialists, and drug. The factor of exploration, innovation, and advancement has incredibly influenced the overhead expense of human services. With research going on different maladies and medications, it is normal that the taxpayer’s cash will have a colossal impact in this action. About $2trilion is gone through consistently on social insurance framework in the exploration of new medications and treatment techniques. Without this extraordinary substantial contribution by the legislature, the in any case cost caused in not putting resources into human services framework would be of a more noteworthy

Confidential Information in Form Records-Free Samples for Students

Questions: 1.What was the Problem? 2.How and Why It Occurred? 3.What are the Possible Solutions? 4.What was the Problem? 5.Who were influenced and How? 6.How was the assault done? 7.What could have been done to forestall the Attack? Answers: Presentation Today at each work environment PCs are utilized to perform different business exercises, for example, putting away classified data in structure records, sharing data from one spot to other and to speak with customers and clients at remote areas. The utilization of PC frameworks and web gives different advantages to its clients yet on another side, different security issues or security penetrates are likewise experienced by its clients. Presently in this report we will talk about a news on PC security penetrate and an instance of hack on web. Conversation This fragment of report has a place with conversation about a PC security break that has occurred in 2015. There are a few cases accessible on web on this subject yet we have chosen one of them and that is Computer Security Breach in VTech Chinese Company. VTech is a Chinese Company which fabricate and creates electronic learning toys. 1.VTech Company confronted an information penetrate and because of this private data of 4.8 million guardians and 200,000 kids was spilled. The 4.8 million was an estimation and this number differs to 6.7 million. As indicated by articulation of VTech Company it was a monstrous break on the grounds that in this PC penetrate individual subtleties of such a significant number of youngsters was spilled and further this detail was utilized by programmers for concealing their personalities. As per a data source, it is discovered that programmers released this data to Motherhood magazine. However, in this entire occurrence Mastercard data was spared to penetrate and it was asserted by VTech. The heaps of data that was penetrated by programmers included name of guardians, messages, passwords, mystery question/answers of guardians, traces of passwords, login and enrollment data of guardians. Other than this, Parent locations of VTech, their record subtleties, kid names and pictures of kids a nd kid enlistment URL and record subtleties were likewise spilled. The companys clients were from various nations, for example, UK, Spain, France and Germany. It was in the end a monstrous instance of PC security break that was hard to control rapidly (WiseGEEK, 2017). 2.According to examination of VTech Company, it was discovered that this PC security penetrate was happened due to SQL infusion on companys database and this action helped programmers to spill subtleties of guardians and youngsters from database. It is likewise accepted by security specialists that obsolete stages are utilized for defenseless hacking of database, for example, ASP.NET 2.0, WCF, SOAP and FLASH. Programmers actualized this security penetrate to gather individual data of youngsters and their folks, with the goal that this data can be additionally utilized by them for concealing their personalities and furthermore they needed to offer this data to Motherhood magazine. The most defenseless aftereffect of this assault was that secret data of a large number of clients of VTech Company lost which can't be recouped effectively (HackRead, 2017). 3.The agent of VTech Companys security break case had the option to distinguish gadgets that are utilized by kids and furthermore sites that were utilized habitually. Other than this, some conceivable answer for this PC security break are recorded as beneath: It was assault of SQL Injection on ASP.NET stage, so to get this kind of assault utilize a record with confined consents in database and attempt to abstain from unveiling data of database blunder (Healthcare IT News, 2017). To get counteraction from above sort of assault, it is important to ensure database by utilizing propelled security highlights. In the event that database will be made sure about, at that point it is hard for programmers to get to it (ucsc.edu, 2017). The utilization of cryptography is a most ideal approach to ensure information into database and over system. To accomplish this, encryption procedure is required to utilize. By this procedure entire data will be encoded into confused structure and afterward will be put away into database. It is hard for programmers to comprehend information in this structure. The database examining is should by utilizing antivirus or by database scanners, for example, NeXpose, Oscanner, Kaspersky and McAfee and so forth. By utilizing these instruments, it will be simpler to discover bugs from database whenever found any and fitting arrangement can be discovered (Greene, 2017). If there should be an occurrence of enormous measure of information, it will be smarter to take reinforcement of information intermittently from database and expel that information from online database. Reinforcement information can be put away safely on another database that is far from programmers. Along these lines, gigantic measure of information can be spared in type of modules (com, 2017). By actualizing these potential arrangements, it is conceivable that organization like VTech can spare its database from security breaks. It is matter of execution of organization and its obligation towards individual data of its clients and customers. On the off chance that organization won't be cautious about this, at that point it will severely impact its notoriety. In the wake of examining about a well known news about PC security penetrate, presently here we will stress on a famous instance of hacking. In rundown of most mainstream hacking cases, the instance of eBay is recorded. eBay is a notable internet business organization. It is ordinarily utilized by individuals for internet shopping. This organization confronted issue of hacking. eBay was endured with greatest hack in 2014 (Forbes.com, 2017). 4.It is uncovered by eBay that programmers had attempted to take individual records of 233 million clients. In these individual records, programmers took usernames, passwords, telephone numbers and physical locations. Programmers effectively hacked eBays private data, for example, login qualifications that are required to access touchy information. After this hacking occurrence, the fundamental concerning thing for Ebay was that, taken individual data of its clients could leave them to powerless fraud. In this hacking of individual data records, money related data isn't taken by programmers (Msdn.microsoft.com, 2017). 5.The clients of eBay whose individual data was put away into database of organization were profoundly influenced with this hacking assault (Hacked: Hacking Finance, 2017). The loss of individual data isn't too little to even think about bearing. The clients of eBay were influenced such that programmers could abuse their own data and can spilled it to different organizations. For each organization that is giving internet shopping administrations to individuals, it is fundamental to make sure about information of its clients into their databases. In the event that organization can't accomplish this effectively, at that point it will place sway over its presentation in advertise (Databreachtoday.in, 2017). 6.This hacking assault is done by programmers by taking login certifications of eBay from its database and afterward by utilizing these accreditations delicate data from database was taken. eBay didn't clear yet that who was behind this assault. As indicated by SEA it was hacktivist activity yet it was not completed to hack monetary records of individuals (Wired.com, 2017). 7.After seeing awful effects of hacking occurrence, eBay urged its clients to change its passwords and furthermore consoled them that their budgetary data was not taken. eBay likewise improved its stockpiling framework for putting away significant data and information was put away in scrambled structure into database and it is perhaps the most ideal approaches to shield clients data from hacking and phishing assaults. Other than this, some other counteraction strategies that could have been finished by eBay to forestall hacking assaults are recorded as beneath (SearchSecurity, 2017): Utilization of Database Scanning Tools Occasional Backup of Database Utilization of Antivirus (Dark Reading, 2017) Utilization of Database Scanning Tools An organization that has number of clients and their data is put away into companys database, it is significant for organization to continue following of database occasionally by utilizing database checking instruments, for example, Oscanner, Kaspersky and McAfee. These instruments will assist with filtering entire database once and in the event that any blunder or bug will discovered, at that point that can be fixed right away. If there should arise an occurrence of eBay, in the event that it could have been utilized this instrument, at that point from a little action of programmers with database could alarm security experts. So it will be smarter to utilize this alternative (MakeUseOf, 2017). Intermittent Backup of Database Another alternative that could have been utilized by eBay is appropriate reinforcement of database at normal premise. While utilizing on the web databases, usually programmers attempt to get to database in unapproved ways and spilled information it to other people. For this situation, in the event that reinforcement of information will be accessible, at that point substantial loss of information can be controlled. An occasional reinforcement ought to be taken into another frameworks database, so that on the off chance that primary database gets harm, at that point elective database can be utilized. Utilization of Antivirus Antivirus can likewise be utilized for security reason. Against infection is utilized for examining the infection from framework and database and afterward in the wake of recognizing infection, the fixing of that is additionally conceivable with the assistance of this. eBay Company could have been introduced against infection into framework and could fix little bugs that were utilized by programmers as frail focuses. These are some potential arrangements that can be utilized by eBay Company to deal with its issues of database security and protection. It is additionally duty of security experts of organization to be cautious about security issues and should discover proper answers for that. Different security patches are likewise accessible to determine issues of databases security. End After this entire conversation we can say that in the event that issues of PC security penetrates are expanding step by step, at that point on opposite side, different arrangements are likewise accessible. In any case, it is normally observed that the greater part of the security issues happens because of ill-advised utilization of security apparatuses and by overlooking little blunders and bugs of frameworks that can be shaped greater in future. If there should be an occurrence of both VTech and eBay, normal issue

How Women Can Relieve Their Stress

How Women Can Relieve Their Stress Stress Management Effects on Health Print How Women Can Relieve Their Stress By Elizabeth Scott, MS twitter Elizabeth Scott, MS, is a wellness coach specializing in stress management and quality of life, and the author of 8 Keys to Stress Management. Learn about our editorial policy Elizabeth Scott, MS Updated on August 18, 2019 How Stress Impacts Your Health Overview Signs of Burnout Stress and Weight Gain Benefits of Exercise Stress Reduction Tips Self-Care Practices Mindful Living Zero Creatives / Cultura / Getty Images It seems to be common knowledge that women are generally busier and more stressed than men. Its widely believed that they juggle more roles and are constantly rushing. Many women themselves feel that they shoulder the lions share of responsibilities outside of paid work, even when they are working just as many hours as their male counterparts. Perhaps because of this, women are seen as generally more stressed than men. But how true is this perception? Researchers from The University of Arizonas School of Family and Consumer Resources decided to find out. They took a sample of 166 married couples and had each participant maintain a daily diary over the course of 42 days, where they recorded their daily stressors. The results indeed showed that women reported a greater amount of high distress days and fewer distress-free days than men. Interestingly, the differences in levels of stressful days were due to women experiencing more onsets of distress episodes (having stress response triggered), rather than being more likely to continue in a distressed state from one day to the next. In other words, women didnt hold onto their stress more; they just experienced more episodes of being stressed. This brings up some important issues regarding women and stress, that women need to be aware of: Understand Gender Differences in Stress If youre feeling more stressed than your male counterparts, dont take it as a sign that youre not handling stress as well; it might be because youre experiencing more stress. Give yourself a pat on the back for handling what you already are, and move confidently to step two. Eliminate What You Can It seems that people are always asking women (especially mothers!) to help with group projects like organizing office birthday parties or running the PTA. While many of these activities are fulfilling, they can add up to a significant amount of stress just by filling your schedule to the brim. While it can be very difficult to say no sometimes (especially if you tend to be a people pleaser), its vital to your health and happiness that you keep in mind that saying yes to too many requests means saying no to things you need: time alone, hobbies, and other soul-nourishing activities. To maintain a reasonable level of daily stress, women need to get used to the idea of setting priorities and saying no. Alter Your Perspective Much of your experience with stress can be eliminated with a change in the way we look at things. This may sound too good to be true, but it isnt! Altering the way you conceptualize the events you find stressful (viewing them as a challenge instead of a threat, or an opportunity instead of a crisis, for example) can actually make them feel less threatening and stressful. When you dont perceive a situation as a threat, your bodys stress response is deactivated more quickly (or doesnt get triggered in the first place), and youre more able to avoid the effects of chronic stress. Have Some Quick Stress Relievers You cant eliminate all stress in life, and probably wouldnt want to if you could. There are many types of stress that are enjoyable, like the excitement of a first date or the suspense of waiting to hear if youve gotten a new job. Because it may not be possible to stop reacting to stress (even with the most positive outlook), its important to have some fast stress relievers in order to reverse your stress response quickly and prevent yourself from entering a state of chronic stress. Maintain Regular Stress-Relieving Habits You can also prevent yourself from getting into an overwhelmed state (where youre more reactive to stress) by maintaining some regular stress relief activities as part of your schedule. Studies show that those who meditate regularly are less reactive to stressors that occur in their lives. Exercise is also an important option to remember; it can keep you physically and emotionally healthy. Journaling also has many benefits for its users. Adding one of these options to your morning or nightly routine could bring be especially useful.

Cloud Computing And Ethical Issues Essay - 2134 Words

Assignment 2 Task 1 Cloud Computing and Ethical Issues Cloud computing is the service in the internet which can be accessible with web browser. The most of the business nowadays shifted toward the cloud computing which will decreased the overload data store problem and increased the security. Cloud computing cut the cost of the business and will increase the efficiencies. In the recent years there is the significant transitions in the business by the use of the cloud computing from desktop based to the software as a service (SaaS). There are many benefits from using the cloud computing in the business but there is always serval question arise regarding the legal practitioners and security when we compared it with the traditional way. The use of the cloud computing always have a question about the ethics issues related with client data confidential. The FEO formal ethics opinion on cloud endorses the way to use cloud computing technology which include the reasonable care must be taken effectively to minimize the risk related with the client information confidentiality. The cloud computing technology has been used by the many service provider such as Gmail, Hotmail, and Dropbox and so on for numbers of years. These technologies were using this for the centralized service efficiently over the web. Cloud computing in the Business There are many identifiable benefits of cloud computing in the business. In the cloudShow MoreRelatedEthical Issues Of Cloud Computing Essay1183 Words   |  5 PagesEthical Issues of Cloud Computing Cloud computing, where computer data and also software program tend to be stashed along servers possessed as well as preserved by an alternative party, when a new and also overseas idea, is starting to become increasingly commonplace. Therefore, legal professionals are trying to find for taking advantage of the numerous features about employing cloud computing companies of their legislation techniques, as well as cost benefits, mobility, in addition to speed.Read MoreCloud Computing And Ethics And Code Of Professional Conduct1253 Words   |  6 PagesCloud computing can be viewed as one of the most rapidly growing and evolving paradigm.Webmail,online storage and online documents are most famous examples in which customers can access their data via web browsers on the internet. The original idea of the cloud computing was delivered by J.C.R Licklider in sixties (Mohamed 2009). Cloud computing has developed since then and started to server the publics after internet offered a signif icant bandwidth in the nineties (Mohamed 2009). Cloud computingRead MoreThe Banking Industry And Cloud Computing Essay1701 Words   |  7 PagesBanking Industry and Cloud Computing Banks are facing increased pressure to streamline their current processes and trim operating costs, while also responding to more demanding, digitally connected customers (Adams, 2012). Many banks are even looking at new technologies and IT delivery models such as cloud computing to help address these issues. Banks have many reasons to like the cloud, such as cost efficiency, standardization and consistency (Dragon, 2013). Banks are embracing the cloud more and moreRead MoreThe Cloud Of Cloud Computing Essay1715 Words   |  7 Pagesfrom the universe of IT Infrastructure into distributed computing which is also known as cloud computing. Cloud computing is presently quick turning into the most noteworthy field in the IT world because of its progressive model of computing as a utility. 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Cluster environment composed with heterogeneous devices and software components capable of cost effective and high performance computing on parallel application

What Have You Learned About The Act Of Reading And...

1. What have you learned about the act of reading and interpreting a text/story/ How have you grown as a reader and critical thinker? Provide examples from both the text and the class. In previous literature courses at Westfield State University, I never fully engaged with a text before. We would be assigned a reading and would briefly discuss it in class. That text would later be seen on a midterm or final. This class has challenged me to grow as a reader and a critical thinker. By coming into class and breaking down each text, I took more from the story. I was getting the deeper meaning of each text. By breaking down each reading as a class, you hear the story being told out loud. By reading the story out loud, you hear each story†¦show more content†¦When our class looked Hieronymus Boschses painting of â€Å"The Garden of Earthly Delights,† they shared their perspective of what they believed was happening. Their perspectives made me look at the painting in a number of different ways. They have also educated me on topics that I was unaware of. For example, we had a few classmates who have read previous stories that involved the characters of Ant igone. They were able to break down the previous stories which helped our class understand the background of Antigone. They offered context to help break down the characters and their role, the setting/ time period, and how the connection of other characters play into the storyline. 2. Drawing from multiple characters/ people/ verses in the texts we read, explain how one’s self- development or lack thereof effected the people around them. Provide examples from both the text and the class . At the beginning of the course, we read the epic of Gilgamesh, an ancient Mesoptamian story. During the course of the story there is an obvious character development within Gilgamesh. Gilgamesh is the king of Uruk, who at first, was as a very arrogant individual with a large ego. â€Å"This city is his possession, he struts through it, arrogant, his head raised high, trampling its citizens like a wild bull... The people suffer from his tyranny, the people cry out (Gilgamesh, 73).† The people or Uruk look to the gods for assistance. Gilgamesh would take a bride’s virginity

‘Investigating Wakefield’ †GCSE Geography Coursework Free Essays

string(81) " Zone 2 Zone two of the model consists of public buildings/services and offices\." The overall topic of this investigation is land use within settlements. Urban land areas in towns and cities have got very complicated land use patterns and the industrial city of Wakefield is no exception. It has grown and developed over hundreds of years and now has a thriving population of around sixty thousand. We will write a custom essay sample on ‘Investigating Wakefield’ – GCSE Geography Coursework or any similar topic only for you Order Now Wakefield is a city situated in the North-East of England. It has good access to the M1 and A1 which is why it is such a popular destination for many factories and businesses. Wakefield is nine miles from the major city of Leeds which is also in Wakefield’s county of West Yorkshire. The hypothesis which was investigated was ‘Are there obvious land use zones along a transect from the edge of Wakefield to the Central Business District (CBD)?’ and to do this a transect of land which was 1.5km long was investigated. The transect started at Newton Bar and finished at the end of Wood Street, therefore coming in to the city centre in a southerly direction. Method A transect of land use from the city centre to the Northern outskirts of Wakefield was recorded. The transect was 1.5km long, stretched from Newton Bar roundabout to the end of Wood Street and the land use immediately next to the road was recorded by hand in a notebook. The age of the buildings was estimated and if any dates were visible they were recorded too. In Wood Street, some of the buildings had more than one use and both these uses were observed and recorded. After the data had all been collected, a land-use transect was drawn. Eight different colours were used to represent the different land use categories and this helped to decipher patterns in the land use. The land use categories which were used were residential, public buildings and services, healthcare, offices, entertainment, retail, education and religion because then the buildings were easier to categorise and then record. A simplified model was also produced to show the main land use zones more clearly. Description of the Area Studied The area of Wakefield which was used to carry out the hypothesis on was a transect of 1.5km and stretched from Newton Bar Roundabout to the end of Wood Street in the CBD. Newton Bar is about one mile from the CBD and the transect studied enters the city in a southerly direction. The area at the beginning of the transect has terraced housing and is slightly run down but industrial because it has a council construction site and a development department in close proximity, and a new housing estate is now being built. The quality of buildings improves as one goes further along the transect towards the CBD, the houses on St. John’s North, Wentworth Street and Wentworth Terrace are particularly smart and elegant. As one walks down Bond Street and Wood Street, one sees buildings such as the County Hall, Crown Court, Police Station, Wakefield Museum and Town Hall which are superb examples of magnificent architecture. When one reaches Cross Street, the more commercial part of Wakefield begins with lots of small shops and businesses such as cafes, hairdressers and estate agents. There are also bars and other forms of entertainment such as internet cafes as well as ‘quality’ stationers, book shops and music shops. This area of Wakefield is quite clean and well maintained although some of the buildings were probably built in the 1960s and are therefore less attractive. The pictures below show some of the different land use in places along the transect. Results The results were recorded by hand in a notebook as the transect’s land use was observed and then a land use transect from Newton Bar to Wood Street was drawn as I have described in my method above. A simplified model was also drawn later to show the main land use zones more clearly. This model shows that there are five main zones along the transect, each being different in size and length. The zones are, coming out in order from the CBD, retail, public buildings/services and offices, education and healthcare, residential and public buildings/services. These zones reflect the types of land use there are in Wakefield. Discussion – Interpretation and Analysis of Results Zone 1 Zone one on my simplified model of land use is retail. This zone is in the middle of the CBD, starts at Cross Street and ends at the end of Wood Street. The land use there is mostly for shops and small public services or businesses. There are cafes, hairdressers, estate agents and lots of other small shops. These types of businesses are in the CBD because it is a typical type of zone to find in the middle of the city and because of accessibility. The businesses within this zone need to be in the CBD because their customers need to be able to get to them easily and if they are in the CBD there are lots of easy ways for them to do this – for example public transport and nearby car parking. It is good for these land uses to be in the CBD because it is the most accessible place to be situated for customers and they receive a lot of deals with passers-by who happen to go into their shop/business/public service or else inform other people about it. However, as the land prices are usually high in the CBD, only successful businesses are able to afford it. In Wood Street most of the buildings are old terraced houses which could also be a reason as to why these businesses are situated there, because lots of the buildings in Wood Street had flats or offices on the second story of their building and so would want buildings with more than one story. This type of zone would also be found in other cities, as it is a typical zone of a CBD. Zone 2 Zone two of the model consists of public buildings/services and offices. This zone begins at Bell Street and ends at Chancery Lane and included in this zone there are buildings such as the County Hall, the Crown court, the Town Hall, Wakefield Museum and the Police Station and offices. These buildings are where they are because they couldn’t be in the CBD as they would not have been able to afford the land prices but they still needed to be near it so that they are accessible for visitors and workers. They are also on the major road to Leeds so they have good transport links. Another reason for these buildings being there could be so that the council could keep all its buildings together and so that everyone would be able to find the council buildings easily, without having to travel all over Wakefield to find the one they wanted. The buildings which are in this zone are all old, the County Hall was built in 1898 and many of the buildings have pillars outside the building which implies that they were built quite a long time ago. However, if the people who work in these places have to pay for the upkeep of the buildings, then this could be why they are not situated in the middle of the CBD – they do not have enough money to purchase land in the city centre. This type of zone could be found elsewhere in Wakefield because only one transect was investigated, which means there would be other transects possible to investigate on the other side of the CBD which implies that there could be other places in Wakefield with similar land use patterns. Zone 3 Zone three from the model is education and healthcare and in this zone there is Wakefield College, Wakefield Girls’ High School, Clayton Hospital and an 1871 dentist. This zone also includes Wakefield Art Galley and the Christian Science Building. This zone stretches form Bell Street to North Road and is in the place it is because it, again, needs to be accessible, this time for students and workers, and because the land uses in it will not have been able to afford the high land prices of the CBD. Even if this zone could have been situated in the CBD, it would not have been because hospitals and schools need space to expand their premises and if they were in the CBD there would be no space to do this. Also, hospitals and schools need to have lots of space for car parking for workers and/or students and there would be no space for this in the CBD. The hospital and school also need good transport links in order for its workers/students to get there each morning which is another reason for why they are in this zone, it is on a major road which leads to the large city of Leeds. This zone could be found in other major cities such as Leeds, but not elsewhere in Wakefield. Zone 4 Zone four begins at the Leeds Road and stretches till North Road. In zone four the land use is mainly residential, but there are also places of religion and education such as St. John’s Church, built in 1791, and St. John’s Primary School, built in 1964. The housing in zone four is very varied, because there are areas of terraced houses from the 1920s-30s such as Snow Hill View, the 1960s-70s as in the houses between Andrew Street and St. John’s Avenue and Georgian terraced housing in St. John’s Square which is a protected heritage site. These buildings are where they are because they could not be in the CBD as it is far too expensive but they still needed to be easily accessible from the city centre. St. John’s Square will have been built for wealthy people to live near the Church as the Church would have been the centre of the community in those times. St. John’s C of E School, which was originally on Kilby Street (named after the Reverend Thomas Kilby), was rebuilt nearby as it is a Church school. The houses from the 1960s-70s were built on waste land which would have been cheap at the time but still had good transport links with the city centre, Church and local schools. This zone could not be found elsewhere in Wakefield but a similar area might be found in other cities. Zone 5 Zone five is between the Leeds Road and Newton Bar and it consists of mainly public buildings/services, although there are some terraced houses and quite a lot of open space. Included in this zone are ‘The Green’, a council construction site, the Development Department, and the Vine Tree public house. These buildings are where they are because they could definitely not have been in the CBD, as they require a lot of land and room for expansion which would not be available in the city centre. However, even if there was suitable land available for these land uses in the CBD, it would have been too expensive for the businesses to afford and so they would have been forced to build further away from the centre anyway. As many of the workers in these buildings would come to work by car, these buildings also require space for car parks and good transport links, both of which they have. This zone would probably not be found anywhere else in Wakefield but it is very likely that other cities have parallel zones. Conclusion I found that, in Wakefield, there are five main land use zones and that as one goes further away from the city, the amount of housing increases. There is also more open space further away from the CBD which is not surprising as most businesses want to be in the city centre so their customers can have easy access and so that they get trade with people who happen to pass by. I also found that there seemed to be a greater concentration of shops and offices in the CBD but that there were also quite a lot of public buildings/services as well. There were no residential areas in the CBD which suggests that people prefer to live outside the city centre and go in each morning for work. I think that Wakefield’s land use zones are quite similar to the Sector Model of land use so this suggests that Wakefield is a typical city. Evaluation I did this investigation to find out if there are obvious land zones along a transect from the edge of Wakefield to the CBD and I found that there were. Overall I think that the investigation went well but that it could have been better if I had not had to go out to study the transect on two different days. If I was to do this investigation again, I would investigate the transect once, in one session, and then I would go out at another time to record the landuse again. This would make my results more accurate because if I did the investigation twice, I would be able to match up the landuse on each set of my results and make sure I had not missed anything out the first time. How to cite ‘Investigating Wakefield’ – GCSE Geography Coursework, Papers

Building consumer demand by using marketing - Myassignmenthelp.Com

Question: Discuss about the Building consumer demand by using marketing. Answer: Introduction Marketing communication can be increased by using social media sites. This assignment will describe about the chosen article The use of social media: an exploratory study of usage among digital natives. The objectives of the study will be mentioned in this assignment. Electronic word of mouth and web 2.0 has appeared as an event of significant interest to marketers. The article will be critically analysed in this assignment to get better understanding about the chosen article. Individual reflection shows the work advance knowledge of subject which can be utilized in real life by marketing practioners. Objectives The main object of the article is to analyze the importance of social media in the academic life of students. The research report has described about the knowledge of students regarding social media platforms and in depth notion of customer generated contents. Next section explains the digital natives in terms of age and behavioural characteristics. Another objective of the article is to understand about web 2.0 and word of mouth communication. Theory The explicit theory framework is used in this research to describe the master phenomena. The description about the web 2.0 and electronic word of mouth is made under this theory. It has been analyzed that the term of web 2.0 defines the platforms that are connective and offer users with the ability to incorporate various media within their content creation. Analytical technique, instructional instruments, social media platforms, consumer generated message viewership and customer generated message creation are used in this article to analyze the article (Steyn, Wallstrm and Pitt, 2010). Concepts The central concept of this article is word of mouth in marketing communication. This concept is clearly defined in this article. It has been said in this article that word of mouth is mature exercise as are people communicating with one another. They have become the major part for the marketing mix for companies (Li Bernoff, 2008). The discussion has been made about the web 2.0 world of marketing in which word of mouth happens on all communicative digital media sites. It has been estimated that more than 85% firm in united states are applying the word of mouth strategy. The word of mouth strategy comes out in the business when the orientation provider has no risk in the business (Li, 2010). Argument Central argument The main argument has been made on digital natives and it has been argued in this article that a higher educating marketing firm defined that technology has become so advanced and as recognizable as a knife to this college age market segment. On the other side it has been argued that customers gradually more use digital media not for researching the products and services but for engaging with organizations they buy along with other customers who may have effective insights (Williams, Crittenden, Keo and McCarty, 2012). Specific hypothesis The specific hypothesis of this assignment is that Generation C who born after 1990 is truly digital natives. The key attributes of Generation C is that they how to live in an adequate manner and they are much involved in the computers and latest technology. Strength The main strength of this assignment is used methodology. The sample has been collected from millennial aged undergraduate college students of United States of America (Packaged Facts, 2010). The minimum age is considered as 19 years old and the eldest age is 21 years old. It is the strength because the selected age is perfect to analyze the tentative study of usage among digital natives. It would encourage them to encourage the campus events or they can use consumer produced content as a need of their jobs. Weakness The weakness has been found in this article is that there are so many students in selected sample who utilized their social media ecosystem for the reason of promoting their goods and services for those companies for which they are working. The risk has analyzed that the credible power in this the network of word of mouth will be eliminated for the extended time if the orientation provider lose the chance of the growth in the business. Hypothesis The hypothesis of this article is defined below: Electronic word of mouth is vital concept in marketing communication. People employ digital media not for researching the products and services but to connected with companies they buy. The network of idle talk will be eliminated for the long time if the reference giver loses the chance of the growth in the business. Method Qualitative research has been chosen for this article in regarding content analysis which permits the examination of the experience of social without unambiguous prospects. Sample, analytical technique and instructional instrument are used in the article for researching on digital natives. In the context of sample, data has been collected from a convince sample of the undergraduate students who were studied in the marketing class. 74 students were selected for sample in which the youngest student was 19 years old and the eldest student was 21 years old. Content analysis is being used in the analytical technique in mass communication research which was considered as appropriate analytical technique for surveying the descriptions of process within the phenomenon of culture of social media. Instructional instrument is a written assignment which was given to all enrolled students. The main concept of this written assignment is to get the response of students about the usage of social media for marketing. It was the big approach to motivate students for using the social media by sharing their experiences. Evidence Evidence is provided in this article to define the social media platforms and providers. The table has given which shows the social media platforms used by students. There are various digital social media platforms available which is helpful for marketing. It has been found that 50% students are engaged with blogging and 96% of the students are active on Facebook and twitter. 70% of the students were connected with text messages because text messaging was in the content prompt. Another table has been reflected in this assignment which was categorized in segments and number of students. Segments have divided into spectator, creator, joiner, collector and critic. 73% of the students answered to more than one of the five segments. For instance, an individual can have seen himself in the condition of critic as well as spectator. Literature The literature is the description about the chosen topic which describes the scope of the topic. The article has defined the digital natives and electronic word of mouth which includes the web 2.0. It defines the stages that are extremely interactive and offer the aptitude to put together dissimilar media in their content formation. On the other hand web 1.0 was defined by one way and unreceptive communication. It is characterized by a process in which people are continuously the provider and giver of information. The social media platforms enable the opportunities for attract that did not survive a decade ago. For instance, it has been analyzed that more than 700 billion minutes are used by so many users on Facebook (Trainor, 2012). There are approximately 30 million stories, images, videos and contents are being shared by people on Facebook (Facebook Statistics, 2010). You Tube is another social media where the number of uploaded videos are high and the views has increased by two b illion per day (YouTube, 2010). It has been found that millions of people building trillions of bonding by social media each day. In that scenario, the role of Web 2.0 has made the electronic description of unfounded information communications. The digital native is the person who born during the age of digital technology and so well known with internet and latest technology from an early age. The article has described the Generation C consumers who love content creation and mashing. Generation C consumers prefer to communicate in an adequate manner. The tendency of generation C students is to work more creative industries (Gil-Or, 2010). Consumer generated content is not encouraged commercially but it is a form of electronic word of mouth (Muiz and Schau, 2011). Essentially, the opinion of customer is about the product and services and after satisfying with the services and products, customers share their views, experience and beliefs with other people by using web. The outcome of this article is fit in to the wider literature. According to Hansen, et. al., (2011), there is numerous different social media platforms that provided to students as instance to quick their thinking in the term of text messaging, podcasts, and social networking and discussion groups (Zahay Fredricks, 2009). Moreover, to discriminating the platforms utilized by this group of college student customers, the description about the particular providers were asked to respondents. Audience The article is aimed at universities students of USA. The research shows that student should judge the true suggestions of liberty of speech (Crittenden and Klepper, 2010). Another audience of this article is Generation C who born after 1990. Credibility The credibility of author is trust worthiness because the authors David L. Williams, Victoria L. Crittenden, Teeda Keo and Paulette McCarty are professors of top USA universities. The use of social media: an exploratory study of usage among digital natives is credible as it has been published in Journal of Public Affairs (2012). This journal article is published online in Wiley Online Library which shows the credibility of the journal article. The credibility of this article can be judged by viewing the number of references which is authenticated. Style The used language of author is clear and concise which can be understood by readers. The predominate mode of this article is analytical as author used qualitative research to explore the research topic. Sample, analytical technique, instructional instruments, social media platforms and customer generated message formation are being used in this research to show the involvement of people in social media. Recommendations It can be recommended that further research should evaluate the statistics and search for disparity between and among a multiple characteristics of demographics. The texts can be improved by using the more analytical data because it has been found that the study of this article was unable to connect different countries of source in the shown data. The analytical source has been chosen for collecting data in which the written assignment and content analysis were considered. These approaches and sources did not enable the compilation of the data. It has been recommended that further research should report for the effects of national so it can see if there are differences in country majorly in the utilization of the specific platforms and providers. Individual reflection The implications of the article for marketing practioners would be effective because it has described the use of different social media platforms for encouraging the market growth. This article assisted me to expand my knowledge regarding web 2.0 and electronic word of mouth which has huge contribution in the growth of market. I can use these social media platforms in my business as marketing practioner. The limitations and future research have been described in this article which assists me that the comment of personal social media should not be posted from any internet sources until and unless it is private. It concurs with my own experience because people has become advanced and give preference to online marketing instead of going outside. By using these marketing communication techniques, marketing practioner can attract the customers towards the provided services and products. Conclusion It has been concluded that the entire objective of this investigative research is to evaluate the multiple of electronic word of mouth in the context of Generation C market segment and this segment is generally defined as digital natives. The critical analysis of the article has been done by evaluating the objectives, methods, evidence, credibility, style and audience. Individual reflection has shown the position of social media sites in the life of marketing practioners. References Crittenden, V. and Klepper, K., 2010, Social media and the b-school.BizEd, pp.72-73. Facebook Statistics, 2010, Facebook statistics, accessed on 26th February 2018, from: https://www.facebook.com/ press/info.php?statistics. Gil-Or, O., 2010, Building consumer demand by using viral marketing tactics within an online social network.Advances in Management,3(7), pp.7-14. Li, C. Bernoff, J. 2008, Groundswell: Winning in a World Transformed by Social Technologies. Harvard Business Press: Boston. Li, C., 2010, Groundswell. Winning in a world transformed by social technologies.Strategic Direction,26(8). Morrison, M. and McMillan, S., 2010, January. Oh, user, who art thou: an examination of behaviors and characteristics of consumers in the context of user generated content. InAmerican Academy of Advertising. Conference. Proceedings (Online)(p. 77). American Academy of Advertising. Muiz Jr, A.M. and Schau, H.J., 2011, How to inspire value-laden collaborative consumer-generated content.Business Horizons,54(3), pp.209-217. Muiz, Jr, A.M. and Schau, H.J., 2007, Vigilante marketing and consumer-created communications.Journal of Advertising,36(3), pp.35-50. Packaged Facts, 2010, Millennials in the U.S.: trends and opportunities surrounding Gen-Y adults. accessed on 26th February 2018, from: https:// www.marketresearch.com/product/display.asp? productid=2661911. Steyn, P., Wallstrm, . and Pitt, L., 2010, Consumer-generated content and source effects in financial services advertising: An experimental study.Journal of Financial Services Marketing,15(1), pp.49-61. Trainor, K.J., 2012, Relating social media technologies to performance: A capabilities-based perspective.Journal of Personal Selling Sales Management,32(3), pp.317-331. Williams, D.L., Crittenden, V.L., Keo, T. and McCarty, P., 2012, The use of social media: an exploratory study of usage among digital natives.Journal of Public Affairs,12(2), pp.127-136. YouTube.com. 2010, Youtube, accessed on 26th February 2018, from: https://www.youtube.com/t/press. Zahay, D. Fredricks, E. 2009, Podcasting to improve delivery of a project-based internet marketing course. Marketing Education Review 19(1): 5763.

Case Involving the Model of Ethical Decision

An ethical decision making-model In most cases, solving ethical dilemmas are not through the application of the codes of ethics and standards that are put in place. Therefore, it is critical to have a framework through which any emerging ethical dilemma could be analyzed and the final decision reached.Advertising We will write a custom essay sample on Case Involving the Model of Ethical Decision-Making specifically for you for only $16.05 $11/page Learn More Ethical dilemmas are usual occurrences in many professions and are resolved through the applicable ethical decision-making models (Johnson Koocher, 2011). However, in this case, the Potter Box ethical decision-making model will be applied to come up with the solution to the ensuing problem. Defining the situation In the case, a woman is suffering from the major depression because of divorce filed by the husband and the looming court proceedings that may result in the loss of the sons to the husband. The woman claims that the husband has an extra marital affair, which according to the psychologist, is delusional and should not be included in the final assessment report for diagnosis. However, the psychologist used much of the personal information on the assessment report, which could have negative influence on the client during the court proceedings. The dilemma is whether the psychologist should include the personal information on the report. Identifying the values Ethical principles and codes of conduct form the basis of values that control the conduct of the psychologist. The psychologist beliefs and values should emanate from the general codes ethical codes of conduct that control the behavior, assessment and evaluation of clients as well as decisions that are being made. In this case, the psychologist must apply the principles, standards and codes of ethics while assessing the client’s situation. Identifying the principles Ethical models in decision-making process m ust back all the actions of the psychologist. In addition, the advice and recommendation of the assessments should also emanate from the theoretical models in ethical decision-making process. In this case, theoretical models such as the utilitarianism and contextualism would be applied to support the recommendations in the assessment report concerning the client’s situation. Choosing the loyalties In this case, it is critical to take into consideration the situation of the client while assessing the life circumstances. However, the consent of the client should be emphasized. The psychologist should seek for the client consent while coming up with the assessment report. Even though the consent may be hard to get in this case, the client should be persuaded to provide his consent on some of the information to be presented.Advertising Looking for essay on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More Applicable code s, principles and standards The principles that apply to this case include the beneficence and nonmaleficence, integrity, justice and the respect for the rights of the clients as well as the related people. In applying the principle of beneficence and nonmaleficence, the psychologist must ensure that its assessments and actions does not cause subsequent harm to the client as well as the related people such as the children and the husband. In other words, the psychologist must ensure that the content of the assessments safeguard the interest of the client as well as the husband. The integrity principle requires that the psychologist must observe sincerity, precision and honesty while assessing the client’s situation. Moreover, all the concerned persons must equally benefit from the actions. Finally, the psychologist must respect the rights of the client as well as other individuals in the assessments. The only limiting factor is that while the psychologist would observe and pr omote the integrity, justice and rights of one individual, other individual right may be compromised. In other words, striking the right principle balance between the people affected may be difficult for the psychologist (Koocher Keith-Spiegel, 2007). During the assessment, the psychologist should put into consideration the ethical standards that include the misuse of their work (Johnson Koocher, 2011). In the case, where the psychologist realized that one party might benefit from the assessments, the necessary steps should be taken to correct the information in assessment report in order to avoid the misuse of such information. The other important ethical standard to be observed is the boundaries of competence. The psychologist should perform the assessment within the boundaries of his psychological knowledge, experience, training and professionalism (Ford, 2006). Most important, the psychologist should produce the final assessment report based on the informed consent (Ford, 2006 ). The standard of informed consent is critical for the final decisions used for therapies as well as legal proceedings that may ensue. The informed consent standard requires that the client is involved in every step of the assessment and the psychologist seek out the client’s approval (Ford, 2006). In addition, the psychologist should observe the standard of privacy and confidentiality.Advertising We will write a custom essay sample on Case Involving the Model of Ethical Decision-Making specifically for you for only $16.05 $11/page Learn More The psychologist should establish the limits of private information and the levels of confidentiality without intrusion into the private affairs of the family. Finally, the psychologist should consider the standards of assessment (Ford, 2006). Before putting down the recommendation for further therapies, the psychologist should thoroughly examine the client in order to have adequate information. Applying th e utilitarian model to explain the case The theory focuses on the positive outcome of the actions. The psychologist, applying the utilitarian approach to ethical consideration, should consider recommending actions that provides maximum benefits to the client (Johnson Koocher, 2011). In other words, the psychologist should recommend actions in its assessment report that offer maximum quality of happiness to the client. In essence, the decisions made during the assessment should benefit the client. Even though the recommendations should be in favor of the client, the extent to which such recommendations affect the related people should also be taken into consideration. However, the psychologist should be aware of the difficulties in getting the information as well as the extent of the consequences of the recommendations on the concerned individuals. In other words, it would not be possible for the psychologist to measure the extent of the consequences of the assessment recommendation s. The application of ethical contextualism to think through the case Contextualism model assumes that there exist competing ethical principles and conflicts normally occur between these competing principles. According to this theory, ethical dilemmas should be treated differently depending with the situation and the expected outcome (Ford, 2006). As such, the psychologist should provide assessment recommendations depending with the situation. Further, the theory asserts that there is no ethical principle that can be used to predict the solutions of any other ethical dilemmas (Ford, 2006). Therefore, the solution to the problem will depend on the situation and the outcome of the assessments made. The problem with this school of thought is that the psychologist may find difficulties in the situation where genuine principles conflict (Koocher Keith-Spiegel, 2007). In essence, the psychologist should not utilize the experiences from other cases to apply to this situation.Advertising Looking for essay on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More The case represents a different situation and therefore the principles to be applied in this case should depend on the assessed factors. In other words, the context in this case should inform the moral principles that should be used to find the solution to the problem. References Ford, G. G. (2006). Ethical reasoning for mental health professionals. Thousand Oaks, CA: SAGE Publications. Johnson, W. B. Koocher, G. P. (2011). Ethical conundrums, quandaries and predicaments in mental health practice: A casebook from the files of experts. Oxford, UK: Oxford University Press. Koocher, G. P. Keith-Spiegel, P. (2007). Ethics in psychology and the mental health professions: Standards and cases. Oxford, UK: Oxford University Press. This essay on Case Involving the Model of Ethical Decision-Making was written and submitted by user Selah Vang to help you with your own studies. You are free to use it for research and reference purposes in order to write your own paper; however, you must cite it accordingly. You can donate your paper here.

Financing Cycle Essay Example

Financing Cycle Essay Example Financing Cycle Essay Financing Cycle Essay Monica Douglas-Edwards 3. Financing Cycle (2 pages) Answer the following questions. _ How can you create and maintain the chart of accounts? If your company is already using Peachtree Accounting for daily activity, beginning balances may only be entered in the prior fiscal year. General Ledger beginning balances are entered through Maintain, Chart of Accounts. Before General Ledger beginning balances are entered, do the following: Verify that the Chart of Accounts contains the equity account â€Å"Equity–Retained Earnings. Determine the correct period(s) in which to enter beginning balances. Determine the correct beginning balance amounts. Verify that the beginning balance amounts have an equal number of debits and credits. Verify That Your Chart of Accounts Contains the Equity Account â€Å"Equity – Retained Earnings† Before Peachtree can save beginning balance amounts, an account with a type of Equity – Retained Earnings should have been set up in your Chart of Accounts. If you do not see this account listed, add that account now through Maintain, Chart of Accounts. Determining the Correct Period in Which to Enter Beginning Balances The correct period in which to enter beginning balances depends on what type of financial statement you want to generate: If you want a comparative Balance Sheet for the current fiscal year and the last fiscal year, then enter beginning balances for the first period that you wish to have balances, then for each period thereafter enter the period debit/credit change up to the current period.. If you want a comparative Income Statement for the current fiscal year and the last fiscal year, then enter beginning balances for the first period that you wish to have balances, then for each period thereafter enter the period debit/credit change up to the current period. If you want a Statement of Cash Flow for only the current fiscal year, then enter beginning balances for the last period of the prior fiscal year. If you want a comparative Statement of Cash Flow for the current fiscal year and the last fiscal year, then enter beginning balances for the last period of the year prior to the last fiscal year. : This is the accounting period that is identified as prior to the previous year (e. g. , â€Å"Before 1/1/2003†) in the Beginning Balance Select Period window. These reports will be titled differently for non-profit organizations. Determining the Correct Beginning Balance Amounts For your financial statements and reports to be accurate, beginning balance amounts must be correct. To help you verify beginning balance amounts, you can use the Trial Balance report or Balance Sheet from your previous accounting system. These reports are discussed in detail below. Note: If you do not have either of these reports, please contact your accountant for procedures on how to calculate beginning balances. ) If you start entering beginning balances in Peachtree during the current fiscal year, AND you do NOT need monthly transaction history for comparative financial statements, then use the numbers from a Trial Balance report dated the last day of the month previous to the month transactions w ill be posted in Peachtree. For example, if a company begins using Peachtree Accounting July 1, 2005, then the beginning balances should be entered in July, using the Trial Balance of June 30, 2005. Understanding General Ledger Beginning Balances, 2010) _ How can you post journal entries? 1. In Peachtree, go to Tasks, System and change your accounting period to the first accounting period of the current tax year. 2. Open FAS for Peachtree by either going to Tasks, Fixed Assets within Peachtree or by clicking the FAS icon located on your desktop. 3. Make all necessary additions, changes, and dispositions of assets you have set up. 4. Go to File, Edit Company. On the Book Defaults page, verify that the Fiscal Year-End is accurate. 5. To calculate depreciation, go to Depreciation, Depreciate and choose the Group, Book, and month you will be depreciating through and choose Execute. Review the depreciation amounts for accuracy. 6. Once you have calculated depreciation, you can now post. Go to Depreciate, Post Depreciation. Select the appropriate Group, Book, Period Posting Date and Journal Entry Date. Click the Preview button to preview the journal entries. After reviewing the information, click the Post button to post the journal entries to Peachtree. (Financial Year-End Checklist) _ What are the key financial statements that are available? Describe them. What are some key reports one can generate to measure the firm’s financial performance? Section III: Reporting (minimum 3 pages) Describe how Peachtree Complete Accounting produces information that can be used to manage the business. Identify and describe at least three key reports for each of the cycles the revenue, expenditure and financing cycles for a total of nine reports. You should describe how the report is used, and why it is important in this section. Do not include any screen shots of your reports in this section. You will include one sample report for each of the transaction cycles in the Appendix – see below. Section IV: Your Evaluation of the Software and Final Thoughts (minimum 2 pages) Your evaluation of Peachtree Complete Accounting will be based upon your experience. You will use screen prints to support your evaluation. You will include the screen prints in an Appendix. They are not part of the required 7-10 written pages. Also, include your final thoughts regarding the application you selected here. Include such things as ease of use, in what size of business it would be best used, etc. Appendix _ In the section, include three sample reports – one from each of the three accounting cycles. _ References as needed at the end of the report.

Film Studies Essay Example | Topics and Well Written Essays - 1250 words - 1

Film Studies - Essay Example He was born and raised in New York and has a Jewish background which is often displayed by many of his heroes in films. He certainly has a love affair with the city since the majority of his films are located and situated around New York and its surroundings. His comedic talents were obvious from his younger days in school as well as his stay at New York University and the City College of New York (Wikipedia, 2007). With this set of close connections to the city his films and words can be examined to show his vision of modern city life. The first film which can be connected to these ideas is Manhattan. It was a commercial success when it came out in 1979 and for all practical purposes; it was a love letter from Woody Allen to the city of his birth (Lee, 2005). The story of the film connects with two couples who are within the city but for our purposes the opening sequence of the film becomes very important. The opening scenes of Manhattan show a montage city life which includes the skyline, eating places in the city, parades on New York streets, the parks of the cities and other important civic landmarks. At the same time, the voiceover given by the character of Isaac shows how much the city is loved by the writer. The adoration towards New York City is painfully obvious even if Isaac does not like many of the people living in the city or their behaviour towards him and others. While the city seems to have lost its value in some way since it seems to take out the idea of individuality from the people living in it, it gives something back to them in terms of creating a fraternity of city dwellers that have quite a lot in common. While a city like New York certainly contains prostitutes, drugs, criminal elements and even things which people would move to avoid, Allen focuses on the brighter side of living in a city rather than the suburbs. The brighter side shows a vision of high theatres, classical music concerts, museums and even a shot

Dunlaps aim for ailing companies Essay Example | Topics and Well Written Essays - 750 words

Dunlaps aim for ailing companies - Essay Example During 1997, Sunbeam's management also showed hoax guaranteed sales, improper bill and hold book sales and also resorted to other fraudulent practices. Out of the net income of US$ 189 million, it is estimated that at least US$ 62 million was from fraudulent accounting practices followed by the company. Dunlap was a management expert who specialized in quick fix solutions for ailing companies. Critics say that he specialized in streamlining the bottom-line of the ailing firms by firing employees and resorting to other cost cutting measures. This would make the company more profitable in the short term, but add to difficulties since such measures would equally strip the company of both talent and capability to compete in the international environment. They point to the fact that most of Dunlap's previous firms have been put up for sale after the dramatic recovery they staged and have never been capable of outdoing its competition on its own. Dunlap's aim has always been to improve the performance of the company on the books and then sell it off at higher prices as the stock value escalates in the expectation of higher returns. At Sunbeam, he attempted the same strategy and did nothing creative about it. In order to cut short the time frame to correct the company's book, he resorted to sales and accounting frauds and the debt financing of three acquisitions to increase the turnover and asset base of the firm. The celebrity CEO was also followed closely by the media who was highly skeptical of his style of aggressive and inhuman decisions. The over ambitious CEO was overpowered by the media who alerted the shareholders and the authorities about his way of functioning and the glorification of the company destined to doom. The senior management of the company also did little to control the massive information leakage once the media opened the lid of the mismanagement can. The CEO had cut over half of Sunbeam's jobs soon after he took over. The share price shot up to over US$ 53 in 1997 from a mere US$ 12. Many share holders had already sold their stake in the company. But growing public concern led to the CEO himself being victimized at the end. The board of directors fired Duncan to save their embarrassment and filed for closure. 3. Identify ethical issues that Dunlap's management team may have created by adopting a short - run focus on financial performance. What lessons could be learned from the outcome Dunlap's management team had overlooked the primary aim of all businesses - to create social wealth. He had specialized in the short run concept after he discovered the pleasure of making money by selling off his previous firms to high bidders who bought the revived companies to add to their wealth. But in the process of streamlining a sinking firm, he had thrown overboard a large chunk of its employees and the beneficiaries of its functioning. His focus was always the small community

Reducing UK Deficit through Hyperinflation

Reducing UK Deficit through Hyperinflation The unprecedented UK budget deficits have drawn sufficient attention to the issue of the ability of the government to finance these deficits continuously by borrowing ever-increasing amounts from domestic and foreign residents by issuing government bonds. What might be particularly worrisome is that, since the 1980s, the UK government has been issuing debt (borrowing) in the current time period to pay back the principal and interest due on the debt it issued in previous periods. In other words, it has been simply ‘rolling over increasingly large chunks of government bonds. Adding to this concern is the belief intrinsic to most individuals that there is something inherently wrong with deficits and that, eventually, they would have to be reduced to zero. Introduction â€Å"Balancing the budget is like going to heaven: everybody wants to balance the budget, but nobody wants to do what you have to do to balance the budget† Senator Phil Gramm (R Tex.), 1990. Throughout the ages, national economies have experienced repeated fluctuations about trend in output, employment, prices, and interest rates, known as business cycles. Many explanations have been offered for these fluctuations in economic activity. They range from sudden supply-side disturbances, or shocks, caused by changes in technology or adverse weather conditions, to unanticipated changes in the money supply. Early business cycle theories assumed that the fluctuations in output and prices about trend were caused by the internal dynamics of a market economy. Sustained economic growth was thought to place severe strains upon the economy. For example, after a prolonged economic recovery, the continually increasing aggregate demand might cause wages and input costs to rise faster than selling prices. This, according to the early theories, would lead to a cutback in business investment and employment as firms, particularly those that had overinvested earlier, started to experience shrinking profits. This link between real and nominal variables, coming in the wake of a sustained period of recovery, was thought to cause recessions. During the era of the gold standard and fixed exchange rates, it was widely believed that business cycles were transmitted across national boundaries by detrimental fiscal and monetary policies of countries that were trading partners. Most of the early theories were in the gold standard era, and hence financial factors such as bank panics, shortages of liquidity, and fluctuations in interest rates were thought to be primarily responsible for economic downturns. While economists are by no means unanimous in their analyses of business cycles, the trend today is towards a demand-side money-induced explanation of these cycles in economic activity (Lucas, pp. 7-8). Since 1980s in United Kingdom there has been a growing feeling amongst economists and policy makers that an increase in taxes in the future is ‘inevitable. Nervousness about the large bond-financed deficits compounded by doomsday predictions in the media has convinced workers that the tax cuts are temporary. This has stunted the outward shift of labor supply and labor demand. It remains to be seen if the present administration does keep taxes at the low levels of 1987 and 1988, or conveniently ignores election year promises and raises them. In this world of individuals with rational expectations, the results of the policies of any one administration are strongly contingent on the expectations of individuals regarding the continuation of these policies by succeeding administrations. Once again, we must remember that policy is not a one-shot deal, but a ‘rule or a sequence extending into the future and the past. Economists tend to view the aggregate effects of fiscal policy from one of three perspectives. To sharpen the distinctions among them, it is helpful to consider a deficit induced by a lump-sum tax cut today followed by a lump-sum tax increase in the future, holding the path of government purchases and marginal tax rates constant. Under the Ricardian equivalence hypothesis proposed by Barro, such a deficit will be fully offset by an increase in private saving, as taxpayers recognize that the tax is merely postponed, not canceled. The offsetting increase in private saving means that the deficit will have no effect on national saving, interest rates, exchange rates, future domestic production, or future national income. A second model, the small open economy view, suggests that budget deficits do reduce national saving but, at the same time, induce increased capital inflows from abroad that finance the entire reduction. As a result, domestic production does not decline and interest rate s do not rise, but future national income falls because of the added burden of servicing the increased foreign debt. A third model, which we call the conventional view, likewise holds that deficits reduce national saving but that this reduction is at least partly reflected in lower domestic investment. In this model, budget deficits partly crowd out private investment and partly increase borrowing from abroad; the combined effect reduces future national income and future domestic production. The reduction in domestic investment in this model is brought about by an increase in interest rates, thus establishing a connection between deficits and interest rates. Budget deficits are financed by issuing government bonds to domestic and foreign residents (borrowing) or by selling bonds to the central bank (monetizing the debt). The processes of government spending, taxes, and money creation are linked quite explicitly by the arithmetic of the intertemporal budget constraint. The most important sources of tax revenue for the government are income taxes, corporate taxes, and payroll taxes. As all these tax revenues are functions of the national income, they consequently decrease when GNP falls, or when the economy goes into recession. On the other hand, transfer payments such as unemployment benefits increase in recessions, thereby causing budget deficits to rise in periods of economic sluggishness, even in the absence of any change in fiscal policy. Because of this independence of the magnitude of the deficit to changes in policy, many economists feel that less attention should be paid to the actual deficit and more to what is known as the high-employment or the standardized-employment deficit (also full-employment deficit, structural deficit). This is a hypothetical construct that replaces both the actual government spending and tax revenues in the actual budget by estimates of what government spending and tax revenues would be, given current tax rates a nd spending provisions, if the economy were operating at full employment. A 6 per cent unemployment rate is assumed to be the full-employment mark in the UK. The high-employment deficit, therefore, is unaffected by the state of the economy, since it ignores the actual expenditures and tax revenues and instead focuses on what they would be at full employment. This measure of deficit changes only when specific policies change, and for this reason economists believe that it is a better indicator of fiscal policy than the actual deficit, as the aggregate business cycle effects have now been sifted out (Baumol and Blinder, pp. 288-290). The inflation-adjusted deficit is the actual deficit adjusted for the inflation component of the interest payments. When the UK government (or any borrower for that matter) pays interest on the government bonds outstanding in an inflationary environment, more dollars must be returned to the lender in recognition of the fact that inflation has eroded the purchasing power of the currency. These interest payments, made to restore the lenders purchasing power, exaggerate interest expenses and distort the government expenditure figures. To sift out this additional government expenditure due to inflation, we subtract the inflation premium from the interest paid on the national debt, thereby counting only the real interest payments, a technique which provides us with a more accurate measure of the deficits. Large budget deficits financed by money creation are widely believed to be the primary force sustaining prolonged high inflation processes. The relationship appears to be closer for hyperinflationary episodes, which are usually associated with the presence of massive budget deficits. Hyperinflation, understood in this paper as a process of accelerating inflation, in fact occurs because governments have unsustainably large budget deficits. Fiscal adjustment is a prerequisite for stopping hyperinflation. Suppose the economy is initially at a point like H, moving along the unstable path with accelerating inflation. The objective of the authorities is to move the economy to a stable stationary equilibrium such as A. This will require a reduction in the deficit to [d.sub.0]. However, this will not suffice to restore inflation stability since real money balances are below the steady state level (i.e., to the left of A); expansionary monetary policy is also needed. This can be achieved through an open market purchase of government bonds. Under rational expectations, the proper combination of fiscal and monetary policies will instantaneously stop hyperinflation (Grossman and Helpman, 1991). In this specific example, as proposed in Dornbusch (1986), expansionary monetary policy supports the fiscal effort. Indeed, an open market purchase of government bonds reduces the interest payments and the value of the total deficit. The government can thus take advantage of the higher demand for money to reduce the deficit. In this case, the reduction in the primary deficit would be smaller than would otherwise need to be. The once-and-for-all increase in the demand for money that results from a successful stabilization effort contributes to a permanent reduction in the deficit. The stabilization strategy just discussed is useful to explain the analytical implications of assuming partial adjustment in the money market and rational expectations vis-à  -vis instantaneous adjustment in the money market and adaptive expectations. The reduced-form dynamic equations are similar in both cases. However, as just shown, when the right policy combination is followed, hyperinflation can be controlled instantaneously in the former case, while it will at best be reduced through a gradual process in the latter. The rigidity in expectations creates a strong barrier to rapid reductions in inflation. There are useful insights regarding the role of tight fiscal policy in anti-inflation programs. First, it is apparent that small reductions in the deficit may not be sufficient to reduce permanently the rate of inflation. Second, it was also argued that there is not a one-to-one relation between deficits and inflation rates; while a given budget deficit might be associated with a stable rate of inflation under one set of initial conditions, it could also lead to an unstable path of prices under others. Finally, there is an interesting asymmetry emerging from this model. While small increases in the budget deficit can move the economy into unstable paths that can eventually result in large increases in inflation, stabilization of the rate of inflation (once the economy is moving along the unstable path) can require even larger contractions in the fiscal deficit. In particular, if the economy is in a sufficiently hyperinflationary state, the monetary authorities might find that the onl y feasible stabilizing alternative is the complete elimination of the use of inflationary finance. In this paper it is shown that under plausible assumptions regarding the adjustment of the money market it is possible to find conditions under which large money-financed deficits can lead to hyperinflation even when agents have perfect foresight. The basic analytical framework is similar to the one used in Sargent and Wallace (1973), Evans and Yarrow (1981), Bruno and Fischer (1986), Dornbusch and Fischer (1986), and Buiter (1987). It assumes that budget deficits are entirely financed through seigniorage, a Cagan-type demand for money function and rational expectations (which in the present model, given the absence of uncertainty, is equivalent to perfect foresight). The main difference is that in the present model the money market does not clear instantaneously. Literature review The adjusted deficit values, therefore, assist us in putting the deficits in perspective and enable us to attribute changes in deficits to specific policy regimes. Another important form of measurement of the budget deficit is the primary deficit. The total budget deficit can be divided into two components: the primary or non-interest deficit, and the interest payments on the public debt, that is Total deficit = primary deficit + interest payments The primary deficit therefore represents all government outlays, except interest payments, less all government revenue. This definition will have huge significance when we discuss the role of the interest payments on outstanding government bonds. The overall budget might be in deficit even if the primary deficit is in surplus (or when we have a primary surplus). This is because in every time period the government makes a significant amount of interest payments on past debt. After mandatory spending, interest payments constitute the second largest chunk of UK government expenditures. Thus we can see that the overall budget will be in deficit unless the interest payments on the existing debt are more than matched by a primary surplus (Dornbusch and Fischer, pp. 581-583). According to Dornbusch and Fischer, this forms the core of the mechanics of deficit financing (p. 597). They write: ‘If there is a primary deficit in the budget, then the total budget deficit will keep growing as the debt grows because of the deficit, and interest payments rise because the debt is growing. As in Diamond (1965), a deficit is created by the government once and for all increasing its debt by reducing taxes on personal incomes. This is equivalent to the government transferring new bonds to the households. The traditional assumption has been that in subsequent periods taxes on personal incomes are raised in order to pay the interest on this additional debt. Instead, in the present paper I consider the case in which it is the future taxes on corporations that are raised. In the present model we find that, because taxes on personal incomes are discounted at a higher rate than the interest on government debt, deficits financed by raising future taxes on personal incomes increase wealth and aggregate expenditure, causing a current account deficit. This is the general view about the effects of deficits in finite horizon models. We, however, find that unanticipated deficits financed by raising future taxes on corporate incomes are neutral. This result arises because corporations, unlike households, are infinitely lived, and therefore taxes on corporations are discounted at the same rate as the interest on government debt. Thus, when the government incurs a deficit by transferring new bonds to the households, and it announces that it is going to raise taxes on corporations to pay the interest on these new bonds, the value of shares in corporations falls by the same amount as the value of new bonds that are issued, leaving wealth and aggregate expenditure unchanged. A correction of the fiscal imbalance has been crucial for stopping hyperinflation. This factor is well documented in the works of Yeager (1981), Sargent and Wallace (1973), and Webb (1986) on the hyperinflation episodes in the central European countries and United Kingdom on the episodes of recessions. Substantial reductions in the budget deficit, monetary reform, and a fixed exchange rate were crucial for the successful stabilization policies in those countries. Indeed, fiscal restraint, which in most cases meant outright elimination of the budget deficit, was probably the most important of these policy measures. One distinctive feature of hyperinflationary episodes is that the rate of inflation accelerates over time, thus suggesting that these processes are inherently unstable. Cagans seminal work on this issue provides an alternative interpretation. In Cagans view hyperinflationary episodes could only be unstable if they were â€Å"self-generating,† and he considered that although â€Å"there is no reason why (self-generating inflations) could not occur; so far they have just not been observed† (p. 73). However, Cagans stability analysis only considers the case in which the money process was exogenous. If one extends Cagans seminal paper through the introduction of money-financed budget deficits and rational expectations, and then analyzes the dynamic properties of the system, as was recently done by Evans and Yarrow (1981), Kiguel (1986), and Buiter (1987), the results are astonishing. Large money-financed budget deficits could be the source of instability; however, they could only lead to hyperdeflation. These deficits can never be the source of hyperinflation. The presence of large budget deficits in a perfect foresight framework has a surprising effect on the dynamic behavior of inflation. Auernheimer (1976), Evans and Yarrow (1981), and Kiguel (1986) showed that in order to obtain a hyperinflationary process one needs to assume adaptive expectations. In other words, in Cagans framework, large budget deficits could result in hyperinflation only when agents make systematic mistakes in forecasting the rate of inflation. It has been recognized for some time that it is very difficult to justify the use of adaptive expectations in macroeconomic models. Economic agents eventually learn the process that generates inflation, and they will use that information in the formation of their forecasts on inflation. As a result, it is difficult to accept that large budget deficits would lead to accelerating inflation only in the presence of systematic mistakes. The effect of anticipated deficits financed by taxing corporate incomes is the exact opposite of the conventional view about anticipated deficits in finite horizon models. If the government announces that at some future date it will incur a deficit by issuing new bonds to the households, and that corporate income taxes are going to be raised in the periods after that in order to pay the interest on this debt, then at the time the policy is announced aggregate wealth will fall, for the following reason. As taxes on corporations are discounted at the same rate as the interest on government debt, the present value of the taxes is equal to the value of the bonds transferred to the households as of the time that the policy is carried out. However, when the policy is announced households are not sure that they will survive to collect the transfer of bonds. Thus, they discount these transfers at a higher rate than the market rate of interest. On the other hand, as corporations are infinitel y lived, the valuation of shares in corporation is such that taxes will be discounted at the market rate of interest. This then means that at the time the policy is announced aggregate wealth and expenditure will fall, causing a current account surplus. This result is the opposite of the conventional view about the effects of anticipated deficits in finite horizon models, as emphasized by, for example, Feldstein (1983), and Frenkel and Razin (1986). Finally, the fact that taxes on corporations in UK are discounted at a lower rate than taxes on personal incomes means that a revenue neutral tax reform involving a shift in taxes from personal incomes to corporate incomes will result in a loss of wealth and a fall in aggregate expenditure, causing a current account surplus. Much of the literature on monetary unions has concentrated on their effects on trade and hence on the effects on the efficiency with which factors of production are used. Rose (2000) shows, in a multi-country panel study, that there may be significant effects on trade from membership of a monetary union. Whilst Honahan (2001) does not dispute the potential for benefits, he points out that much of the weight in Roses results comes from small countries leaving (or sometimes joining) colonial and post-colonial monetary unions. These decisions were often associated with a bundle of changes in relation to partner countries that themselves had a major impact on trade. Given that there are likely to be reasonably large gains in the scale of trade from joining a monetary union, there are also likely to be significant increases in the level of output. Grossman and Helpman (1991) argue that there is a strong link between openness and growth and much of the evidence is surveyed in Pain (2002). These gains come from the arrival of new technologies, increases in specialization by comparative advantage and the reaping of economies of scale within industries that have become more specialized. In addition, a monetary union reduces the barriers to trade even within a common customs area by reducing transactions costs, and this is likely to have a major impact on the level of output that can be produced with a given level of inputs. Given the theoretical importance of the output gap, it is unfortunate that its measurement is so problematic. This will always be the case however when we are trying to separate out ‘high frequency events such as the business cycle from ‘low frequency events or persistent phenomena such as the trend in potential output. As Watson (1986) points out, a time series of 30 years could contain a significant number of examples of cycles of periods of less than 5 years, yet only a few examples of cycles of 10 years or more. Therefore we have more information in a finite sample on the shorter cycles, and correspondingly less information on longer cycles and the permanent shocks (which can be regarded as infinitely long cycles). Techniques for trend extraction have to address this problem directly, and filters for trend extraction are designed to remove specific frequencies and, in particular, cycles from the data under consideration. The central point of Feldstein (1986) article is to present empirical evidence in support of the view that budget deficits cause a currency to appreciate. He regresses the real exchange rate between the U.S. and UK on a measure of the budget deficit in the United Kingdom and a set of other variables. For the period 1973 to 1984 (twelve annual observations), he finds that the estimated effects on the real exchange rate are strong and robust to the inclusion or exclusion of other variables. Branson and Love (1988), on the other hand, outline a theory that assumes that the movements in the nominal exchange rate cause movements in the real exchange rate. These, in turn, cause movements in the supply of (tradable and non-tradable) output and employment and, hence, the trade balance. Their empirical results indicate that appreciation of dollar over the period caused a large unemployment loss in manufacturing. Barth et al. (1990) note that the choice for measuring of the deficit affects the nature of the linkage between deficits and interest rates. Specifically, studies that use cyclically adjusted deficits or federal debt instead of federal deficits are more likely to find a significant relation between the fiscal variable and interest rates. Recent evidence reported by Barth et al. conforms with these observations. Barth et al. (1990) also conclude that low frequency data (annual versus quarterly or monthly) and long-term interest rates (instead of short-term rates) are more likely to produce a significant relation between deficits and interest rates. However, recent studies do not support these generalizations. The summary shows that many studies that use quarterly data yield a significant relation between deficits and interest rates (e.g., Bruno and Fischer, 1986; Dornbusch and Fischer, 1986; Buiter, 1987). Moreover, several of the studies surveyed (e.g., Honahan, 2001; Rose, 2000) find a significant relation for short-term interest rates. Barth et al. (1990) note that expected deficits play a greater role than contemporaneous deficits for long-term rates. One should note that results of all such studies are sensitive to the measurement of expected deficits. Frenkel and Razin (1986) find that announcement effects of the unanticipated deficit on interest rates are positive and about the same throughout the yield curve. Both rational expectations studies (Bruno and Fischer, 1986; Dornbusch, 1986) find positive relations, one for long-term rates and one for short-term. Finally, Feldstein (1983) and Dornbusch and Fischer (1986) find a positive relation between 10-year rates and projected cyclically adjusted deficit as a percent of GNP. Therefore, this relation apparently does exist for long-term rates, but concluding the same for short-term rates would be premature. Discussion The politics of tax cuts are not necessarily straightforward. Since the UK Budget of March 1993, discretionary tax increases have added about [pounds] 18 billion to expected tax revenue in 1996/97. It might therefore appear odd to the electorate for there to be a remittance of [pounds] 5 billion of these tax revenues as an election approaches. However, a reasonable defense of this might be that the fiscal position has turned out to be better than originally forecast. When the first tranche of tax increases was announced in the March 1993 Budget it was expected that even with the additional revenue the PSBR to GDP ratio in 1996/97 would be 4 1/2 per cent of GDP. The additional fiscal changes announced in the November 1993 Budget contributed to a reduction in the forecast deficit to 2 3/4 per cent of GDP. Now, with no further tax changes the Treasury is forecasting that the deficit will be 2 per cent of GDP, substantially lower than they first thought it would be. In terms of the economics of the UK Budget judgment, the slowdown in economic activity that appears to be occurring, especially the very weak state of domestic demand would appear to allow some relaxation of the fiscal stance. In addition, our projections suggest that even after allowing for tax cuts the general government financial deficit will fall below the 3 per cent reference level for the European Union excessive deficits procedure. The main difficulty with the tax cuts is that they retard the progress that the government has made in reducing its borrowing towards the level that would be permitted by the so-called ‘golden rule that the government borrow no more than is necessary to finance investment. This may be seen either in balance sheet terms or by examining borrowing in relation to investment expenditure. The consequence of the deterioration in the public sectors balance sheet is that this years taxpayers are leaving more liabilities and fewer assets to next years taxpayers than they started with. This suggests that the future services provided by public sector capital will be lower and debt interest higher than they would otherwise have been. This means that future taxes need to be higher in order to pay for the extra debt interest. This situation can be prevented by the government following the golden rule that borrowing be no more than is necessary to finance capital investment. Deficits have to be financed either by issuing debt or by creating base money. Sargent and Wallace (1973) have argued that persistent budget deficits will eventually result either in monetization of the outstanding stock of debt, thus depriving the monetary authorities of their autonomy in setting policy targets, or in a repudiation of at least part of the debt. Hence lack of fiscal discipline could undermine the independence of a newly created European Central Bank, which might come under potential pressure to loosen its policy stance if some member states had serious budgetary problems. Its credibility could be affected if agents thought that a softer stance would become inevitable to alleviate the financial difficulties of highly indebted countries running large deficits. One of the consequences would be an increase in interest rates reflecting a revision in expectations incorporating higher future inflation rates. Fiscal discipline would still be a major concern even if the UK monetary authorities remained steadfast in their anti-inflationary commitment, because those states with unsustainable fiscal positions might have to pull out, whose irreversibility would then be questioned. As a result, markets could take a different view of the degree of substitutability of the assets issued by the different countries. Furthermore, other externalities would be at work, in the form of pressure on other member states to come to the rescue of those with unsustainable debt/deficit paths. Another possibility is that conflicts would arise ‘on issues related to the distribution of (seigniorage) among member countries (Pain, 2002). Other consequences for the country as a whole of the lack of fiscal discipline would be a general rise in interest rates and an external deficit for Europe vis-à  -vis the rest of the world, with adverse effects on the ECU exchange rate. As to the introduction of binding fis cal constraints, the argument is often put forward in the literature that they may appear to improve welfare, but only if the existence of a trade-off between fiscal and monetary policy is ignored (Pain, 2002). Development of a government bond market provides a number of important benefits if the prerequisites to a sound development are in place. At the macroeconomic policy level, the UK government securities market provides an avenue for domestic funding of budget deficits other than that provided by the central bank and, thereby, can reduce the need for direct and potentially damaging monetary financing of government deficits and avoid a build-up of foreign currency denominated debt. A government securities market can also strengthen the transmission and implementation of monetary policy, including the achievement of monetary targets or inflation objectives, and can enable the use of market-based indirect monetary policy instruments. The existence of such a market not only can enable authorities to smooth consumption and investment expenditures in response to shocks, but if coupled with sound debt management, can also help governments reduce their exposure to interest rate, currency, and other financial risks. Finally, a shift toward market-oriented funding of government budget deficits will reduce debt-service costs over the medium to long term through development of a deep and liquid market for government securities. At the microeconomic level, development of a domestic securities market can increase overall financial stability and improve financial intermediation through greater competition and development of related financial infrastructure, products, and services. The creation of a monetary union will inevitably affect the setting of fiscal policy. Even if only monetary policy becomes the responsibility of the new institutions, with fiscal policy remaining in the domain of national government, the fact that they will no longer be able to monetize debt has implications for policy choices. Fiscal policy may play a more important role as a stabilization tool. In the standard Mundell-Fleming framework, in which sticky prices are assumed (Frankel and Razin, 1987) fiscal policy is most effective when exchange rates are fixed and there are free capital movements, conditions which has to be fulfilled by the UK government. Because in a fixed rate system a fiscal expansion does not lead to a rise in interest rates and to an appreciation of the exchange rate, some countries might resort more frequently to fiscal measures to respond to shocks, especially if they are country-specific. Such budgetary policies could result in a looser overall fiscal stance, especially if the fiscal authorities failed to distinguish between temporary and permanent shocks. It is often claimed that fiscal policy is the appropriate policy resp