Indian Education Market Analysis

Indian program line Market AnalysisIntroduction mannequin of International vexation in overseas market. high education these long time has become a profitable business collectable to high get hold of of timberland education worldwide. This has given rise to global branch campuses entirely or so the world. These campuses plight in host country and impart awards and qualifications with a brand name of home university.An Analysis of why University of Wollongong expand to IndiaUOW has already established a very unshakable league with Indian pedantic institutes in the aras of mining applied science, renewable energy and logistics. UOW to a fault score impregnable links with major Indian IT companies like Infosys. The cost of setting up a campus in India will be slight because UOW has very pissed local ties which will be helpful in raising the capital. University is also popular among Indian students and over one thousand Indian students atomic number 18 currently enro lled in UOWs Australian and Dubai campuses. Indian education heavens is viewed as very lucrative as the country want to develop skills of around 400 million people by 2022(Munro, 2017). It is highly anticipated that UOW would make profit by ex decennaryding its overseas market to India. in that respect is no enquiry that every business venture has just about encounters associated with it. In this case, major risk would be that students may prefer to study in universitys Australian campus or else of Indian campus. This risk can be minimised by offering less tuition fees at Indian campus. Another solution is to offer match arrangements to students which would involve option of partial study in Indian campus followed by study in Australian campus.PESTLE Analysis of Indian instruction MarketIndian education firmament has recently been identified as a lucrative market for investment due to low literacy appraise, suppuration urban population and recent increase in per capita income. Indias education sector does offer many profitable business opportunities for immaterial universities like UOW(Tohmatsu, October 2012). Indias high education market has grown significantly in the past ten years as shown in the fig below.More students are enrolling in higher educational institutes after leaving school and willing to hire more for quality education. There are opportunities for foreign universities to establish an supranational branch campus in India independently or in collaboration with hugger-mugger sector. A detailed analysis of Indian market in call of political, environmental, social, technological and legal factors can be discussed as followsPolitical milieu India is a democratic country and current disposal was elected in May 2014 under the maneuverership of Prime Minister Narendra Modi. Current presidency is very stable and powerfully hold back foreign investment in education sector. A legislation is currently underway to allow foreign unive rsities to setup international campuses in India. The proposal is to allow foreign universities to ope pasture independently, award degrees and repatriate all profits which is strongly supported by many state establishments as well. Governments focus is on providing opportunities for millions of young Indians to consume quality education and employment skills. Government is committed to skill maturation of half a billion people by 2022(Export.gov, 2017).Government strongly support collaboration between foreign universities and Indian universities in question and development. Government focus is on developing partnership with foreign universities in the field of mining technology, software development, pharmaceuticals and nanotechnology. UOW has recently joined hands with Indian state government of Gujarat to support Centre of Mining Excellence due to the universitys expertise in mining technology. Current political environment in India is very favourable for UOW to setup an inte rnational campus in India.Economic milieu India is the third base largest economy by purchasing power parity and one-seventh largest in the world in terms of nominal Gross domestic help Product (GDP). India is considered as one of the major economy in G-20 nations. During the break down five years, Indian economy has experienced a growth rate of 7-8% per annum and it is expected to grow at the same rate for at least(prenominal) next five years. The driver behind countrys economic expansion is its operate sector which comprised of retail, telecommunications and information technology.India is emerging as a very strong market for higher education and vocational training due to its redevelopment sector driven economy. The number of enrolments at educational institutes in India is the third largest in the world only behind China and the US. Education sector in India has witnessed a strong growth in the past 20 years and it continues to grow which gave rise to strong demand for hi gher education. higher(prenominal) education sector in the past was dominated by government institutes, provided admissions in private institutes have suddenly increased recently due to higher demand supply gap. It is estimated that education market in India will worth billions of dollars in upcoming years. Education market in India is becoming very lucrative and this is the best time for UOW to setup an international campus in India(Deloitte, September 2013).Social and Cultural surroundings India is considered one of the youngest countries in the world with a median age of around 24 years. Indias possible workforce is estimated to reach one billion by 2025. Indian literacy rate is 74.04 % as compared to world literacy rate of 86.3%. Indian society is very several(a) with many cultures, languages and religions. In India, religion plays an important role and people are very much influenced by it. Culture and Religion also have implications on education(Andy Bertsch, 2013). In the past, most of the students were only sakied in engine room and medicine courses due to the influence of their family and friends. instantlyadays students have started showing interest in variety of other courses such as journalism, hospitality, law and management. There is a golden opportunity in India for UOW to offer specialised courses and quality education to millions of aspiring students.Technological EnvironmentTechnological changes can lead to innovation, better quality and less costs for the organisations. Internet and telecommunication technology is evolving very fast in India. Most of the country is served with 3G and 4G networks to support businesses. India has a powerful information technology sector which constantly provides new estimator systems, software and technological advancements. India has all the infrastructure in place to provide world class teaching facilities like smart lecture theatres with sound video connectivity, e-learning and fast internet connect ion for the proposed international campus(Scholar, January 2016).Legal Environment Indian legal system is well developed and based on the Common law of England. Judicial system is fair, accountable and transparent. Taxation policies support foreign direct investment and international trade is governed by conciliatory regulations. Indian companies pay flat tax rate of 30%, however foreign companies pay flat tax rate of 40%. The government has started projects like E-Biz and Invest India with an aim to facilitate investments from global investment community. Now only single application is required for multiple clearances to set up a new business in India. This is the best time for a foreign university like UOW to establish an Indian campus.ConclusionThere is no doubt that international branch campus can be a monetary risk for the Universities however, UOW is already running a very successful campus in Dubai. Lucrative Indian education market, favourable economic conditions, strong p artnership with local IT industry and research collaboration with academic institutes are some of the potential success factors for UOW to open a campus in India.ReferencesANDY BERTSCH, J. O., M.SAEED, SONNIE BATES AND ABM ABDULLAH 2013. Business Environment in India An International Perspective Business Environment in India An International Perspective Dhaka.DELOITTE September 2013. Deloitte Foreign Universities in India. Touche Tohmatsu India Private Limited.EXPORT.GOV. 2017. India Education Service Online. International trade administration. Available https//www.export.gov/article?id=India-Education-Services Accessed 25 marching 2017.HEALEY, N. October 19, 2015 The Conversation Academic rigour journalistic flair Universities that set up branch campuses in other countries are not colonisers Online. The Conversation Media convention Ltd. Available http//theconversation.com/universities-that-set-up-branch-campuses-in-other-countries-are-not-colonisers-46289 Accessed 22 March 2017. MUNRO, K. 2017. Could building campuses offshore be the incoming for Australias universities? Online. Faltex Media. Available http//www.smh.com.au/nsw/could-building-campuses-offshore-be-the-future-for-australias-universities-20160719-gq8wsv.html Accessed 27 March 2017.SCHOLAR, M. R. R. January 2016. MAKE IN INDIA PROSPECTS AND CHALLENGES International daybook of Business Quantitative Economics and Applied Management Research, 2, 60.TOHMATSU, D. T. October 2012. Indian Higher Education Sector Opportunities aplenty, growth unlimited 2012 Deloitte Touche Tohmatsu India Private Limited.

Interprofessional And Interagency Working

Interprofessional And Interagency WorkingThis assignment willing critic all(prenominal) toldy analyse dickens posers of interprofessional and interagency practice using examples from my accredited practice couchment. Relevant literature will be utilize to identify what factors support or oblige interprofessional and interagency collaboration (IPIAC). IPIAC is often take ind as a holistic approach to an individuals adopts. When used hard-hittingly, a holistic approach allows for better helping delivery to the receipts user. Hammick et al (2009, p.10) states that being interprofessional is data and hold uping or working and learning with others as withdraw, when necessary and nightimes both. Interagency working concentrates more on the organisational roles and responsibilities of those affect in collaboration (http//www.scie.org.uk). Interprofessional is relationships between individuals and interagency is relationships between organisations.IPIAC was a modernisati on agenda introduced in public policy by the New weary political relation. Government recognition suggests that many social problems jakes non be effectively addressed by any given organisation acting in isolation from others. That is, when professionals work together effectively they provide a better attend to to the complex adopts of the most vulner adequate to(p) people in society. New Labour in addition specified that there was a Berlin Wall type form between agencies and professionals and that there was a barrier to co-operation and this barrier should be confronted so that services worked in partnership with service users. til now according to enquiry conducted by Hiscock and Pearson (2002, p.11) several government reports have criticised the lack of coordination between wellness and social services in the connection. So, in essence when professions work collaboratively the service user gets a better deal. Willing participation (Henneman et al, 1995, cited in Barrett et al, 2005, p.19) and a high level of motivation (Molyneux, 2001, cited in Barrett et al, p.19) have been stated as vital aspects of effective IPIAC.My current practice placement is within a voluntary organisation in a national abuse service. I am a project worker at a asylum for women and minorren who atomic number 18 escaping domestic abuse. My role is to co-link work with permanent Refuge lag and co-ordinate severally service users support take whilst maintaining links with hold statutory and voluntary sectors.INTERPROFESSIONAL PRACTICE ONEThe first example of IPIAC to be discussed and analysed within my practice placement will be a weekly bear uponing held between Refuge lag, health visitors and the play-worker from Womens Aid. The aim and purpose of these meetings is to function data so that identified needs of the families in the Refuge back tooth be addressed and where possible be signposted to other services as essential. The meetings atomic number 18 desi gned for professionals to share reading and knowledge near the familys lives nevertheless not make decisions on their behalf (except where there are child security measures issues). The meetings in like manner aim to provide support to families according to assessment of need using professional judgement. Within these meetings every peerless discusses and leaves the personal development and progress of the women and children in the Refuge so that all professions convolute are kept up to date with the familys circumstances and situation. This supports IPIAC and is effective in that it is a chance for everyone problematic to gain further advice and guidance from other professionals in relation to their current level of involvement with the families. This in turn supports the families and assists them with their future goals and plans. However these meetings could be interpreted to some as secretive as they are held can buoy closed doors and it is a meeting in which the famil ies are not involved in. This could be construed as an expert power relationship to some (Maclean and Harrison, 2011, p.31).For IPIAC and these meetings to be effective it is vital that all professionals involved support one some other(prenominal) and are not be seen as self-interested or see themselves as higher than another profession. This is when problems occur as there is not a logical distribution of power. Unequal power distribution can be oppressive (Payne, 2000, cited in Barrett et al, 2005, p.23) and can limit participation for some professionals. great power in IPIAC should be shared and distributed and no hierarchy of power should exist. If some professionals see themselves as more powerful than another they are not meeting the needs of the service user. Sharing of learning and knowledge rough the families in the Refuge is the purpose of these weekly meetings so as to give the best possible burden for the service user.A constraint of IPIAC is that some professional s are territorial and do not like to share tuition and knowledge. Molyneux (2001, cited in Barrett et al, 2005, p20) found that professionals who were confident in their admit role were able to work flexibly across professional boundaries without feeling jealous or threatened. Professional adulthood was an expression used by Laidler (1991, cited in Barrett et al, 2005, p.20) to describe professionals who were confident in their ingest role to share information and croak effectively with other professionals. These professionals do not feel territorial active relinquishing their knowledge and understanding to further enhance good IPIAC. Stapleton (1998, cited in Barrett et al, 2005, p.20) suggests that a combination of personal and professional confidence enables individuals to assert their own perspectives and challenge the viewpoints of others.Active compreh closure is an essential skill to maintain in order to achieve effective IPIAC. To be able to recognise and serve to wh at is being communicated is fundamental. Professionals working collaboratively should be able to demonstrate this verbally and non-verbally to individually other. This is greatly helped if all concerned put aside the typical stereotyping of separately others professions in order to hear and listen to what is being said. rough-and-ready clear and honest parley is vital and probably one of the most consequential aspects of IPIAC. It requires professionals to take into account each others views, be respectful, dignified and to listen to each other without being highly critical of one another. Constructive feedback about the family needs to be undertaken alongside constructive suggestions and encouragement and should take place at a time when other professionals are undefendable. However, being receptive to what is being said does not always occur during these meetings. At times, one professional does not like what another is conveying and this can realise conflict within the pr ofessions. However the need here is to remember that it is the service user that is central to the process and that the goal is to achieve the best outcome for them and their family.There are elements within this example that both support and constrain IPIAC. To achieve the goal and not result in a forgetful outcome for the service user it is important for all professionals involved to communicate honestly and openly and for there to not be a substantive power imbalance between the professions.INTERPROFESSIONAL PRACTICE TWOThe second example of IPIAC to be discussed and analysed within my practice placement will be a Multi-Agency Risk Assessment Conference (MARAC). A member of the Refuge staff attends these meetings on a fortnightly basis. A MARAC meeting is a community response to domestic abuse. Cases are referred to a MARAC by the Refuge as a result of completing a CAADA-DASH risk identification checklist (RIC) (see supplement one) with the victim of the domestic abuse. This c hecklist determines the victims level of risk/need. If the risk identification get to is 14 or more on the RIC, the MARAC threshold for high-risk has been meet and a referral to a MARAC meeting is made. Cases can also be referred to the MARAC all as a result of a high risk domestic crime/incident recorded by the police or by a direct referral from a participating agency. Participating agencies attending the meetings can include representatives of statutory services such as the police, criminal justice, health, child protection, housing practitioners and Independent Domestic rage Advocates (IDVAs). The purpose of the meetings is for professionals to implement a risk management plan that provides professional support to all those at risk and which reduces the risk of harm. The aim is then to produce a safety plan for each victim of domestic abuse.The MARACs aim is to share information to increase the safety, health and well-being of victims/survivors of domestic abuse. They can det ermine whether the assert perpetrator poses a significant risk to any particular individual or to the general community. According to Bowen (2011, chapter 5.) MARAC functions through meetings designed to facilitate multi-agency information sharing, with a view to implementing an agreed-upon risk management and victim safety plan. Effective confabulation and information sharing supports IPIAC as it can assist to induce relationships between agencies across a much broader range. A MARAC with effective communication and information sharing between agencies can also promote IPIAC in developing much stronger relationships between the voluntary and statutory sector. Barrett et el (2008, p.21) states that communication competence contributes to effective interprofessional working and enables those involved to articulate their own perspectives, listen to the views of others and negotiate outcomes. An effective MARAC meeting which supports IPIAC is when professionals work collaboratively to ensure that victims/survivors and/or their children are safeguarded from further abuse. The governments action plan Call to End All Violence Against Women and Girls states that we all have to work together to achieve our goal of ending violence against women and girls. It is not a task for central government alone. It suggests that agencies need to work together to meet the needs of their local communities and that agencies are held accountable.However, a constraint of a MARAC meeting that I witnessed was that not all professionals brought the appropriate information to the meetings which lead to an inefficiency and delay of the case which frustrated others professionals attending. Poor timekeeping was another avenue that at times would frustrate other professionals attending the meetings. This seemed to relinquish them as I would hear comments such as we are all professionals here and should act as such and as professionals attending important meetings like this, we should alwa ys strive to be on time. I also found at the MARAC that some agencies only had snippets of information that on their own did not raise any particular concern. It was only when the jigsaw of information was pieced together that the risk factors could begin to be understood.This example shows that when MARAC meetings support and intone interagency working and is effective, it is IPIAC at its best. This approach to working more collaboratively is beneficial as all organisations are coming together for the purpose of a everyday goal, with that goal being the best possible outcome for the service user. However some of the MARAC meetings that I had attended were not always that effective referable to the fact that not all key agencies or organisations attended the meetings when required to do so or did not have the appropriate information to relegate. It is beneficial that all agencies have as much information to hand as possible to facilitate IPIAC and have a profound unequivocal im pact on the outcome for the service user.In conclusion, IPIAC has many elements and all these distinguishable elements require that the different professions adopt them so that effective outcomes are achieved for the service user. Although IPIAC has been around for many years and is not new, it still needs to be continued, developed and incorporated into the daily work of all professions. When organisations and professions from different disciplines truly understand each others roles, responsibilities and challenges, the potential of IPIAC could be fully realise and many of the barriers alleviated. This in turn will contribute to a more successful outcome to the service user which of course is central to effective IPIAC. If IPIAC is ineffective it can limit choice for the service user and also increase risk.Word Count 1966

Importance Of Avoid Making Stereotypical Assumptions Social Work Essay

Importance Of Avoid arrest Stereotypical Assumptions affable Work EssayStereotype reflects the perception unity has of other individuals found on their different physical abilities, emotional appearance, religious, pagan disposition, sexual druthers or ethnicity with break knowing whateverthing in- individual about that person and these views are practically connected to experiences, observations or other influences such(prenominal) as the media. I leave first outline below some of the reasons why it is important to nullify fashioning assumptions based on stereotypes when providing deal out for someone and then later on show how individual care workers can restrain against doing this.Making assumptions, based on stereotypes, when providing care for someone can have a negatively charged effect on the quality of care, as illustrated in the instance of Mhiri who suffered from a stroke and needed a wheelchair but opted kinda for ain care at home. The care manager, St uart, who did the assess ment could have found out about her sexual preference had he non assumed because she was wed that her relationship with partner Gillian was heterosexual. This would have allowed much sensitivity to be shown by the carers when attending to her personal needs.The uninspired assumption that disenable plenty cannot glide by would have the consequence of them not world listened to properly and this would deny them the good to appropriate go and having a voice. This would impact on their individuality and personal needs, thereby affecting the quality of care being provided. As one participant wheelchair user pointed out in Its like when you go to the hospital or the doctors, if you go with anybody because youre in a wheelchair they dont address you, they look oer you and that really infuriates me. This underscores the need to speak directly with the service users rather than make assumptions that they are helpless or not capable of discussing their car ing needs. present narrow-mindedness because an assumption is made based on stereotype, is being injustice and this was highlighted in Gypsy Travellers report about prejudice within the health care service. It can prevent Gypsies from gaining access to appropriate medical services such as the barrier presented by a receptionist the receptionist are harder to cross past I think theyre doing the doctor a favour I did something good today, I kept the Gypsies away. Another stereotypical assumption illustrated in is that people with mental health problems are prone to violence such was the case of Simon Jackson. However, he was just reaching out for help and practically misunderstood, as he was suspicious of any authority figure. Making stereotypical assumptions can prevent people receiving appropriate care and if a carer has a prejudicial view it could further complicate the matter and deter users from accessing the services. For example, as given in, a disabled lesbian felt that she was apprehendn as someway unnatural or abnormal. However, when these beliefs are carried through, it leads favoritism. An example of this provided in K101 Block 3 Unit 10 where council estate residents were seen as failures and not interested in academic success.In providing care for someone in a local anesthetic community, care workers should recognise and value diversity, that is, people are different and should be treated differently but fairly to avoid inequality and discrimination. Therefore, it should not be assumed that providing personal care for an Asian female would be the same or quasi(prenominal) to that for a white European female. mission workers need to be culturally sensitive and take into account the differences in peoples lifestyles and family relationships.As in people with speech impediments are sometimes assort as being deaf and are often shouted at when communicating and this should not be indicative of all people with such a disability. When provid ing care for someone with this disability, a carer needs to be more informed about that persons capabilities before engaging to avoid any chat barriers or leaving that person feeling demoralised.It may sometimes be necessary to use stereotypes and make assumptions as it can act as a guide to help in decision-making, such as when organizing a social event for older people in a care home as this could be the target audience and provide the luck to cater to their specific needs.Individual care workers can guard against making assumptions based on stereotypes by being more tolerant and make every effort to understand that person better. The care worker should reclaim out what help a disabled person needs instead of assuming what they think they need based on previous experiences or observations. It is important for care workers to avoid being condescending when disabled people are accompanied by their cares but should communicate directly with the disabled persons. If the care worker is not able to understand someone with a hearing impairment, they could ask the person to tell them how they prefer to communicate and not pretend to have understood them when they have not or they could become familiar with that persons method of converse and find ways of keeping that communication going with aids such as Mankaton or other similar sign language. It is essential to identify that there are different religious, cultural and other particular needs of people, therefore care workers should also see service users as individuals and tailor care according to their individual preferences so that appropriate services can be provided. Care workers need to start a knowledge and understanding of how the law affecting disability and discrimination as the Disability Discrimination Act 1995 protects disabled people and does not only apply to people who have a physical disability, optical or hearing impairment but can also dressing people with learning disabilities. In addition, they should also be familiar with the go Relations Act 1976, as it is unlawful to discriminate against a person on ground of race, colour, ethnic origin or nationality. An example of this was show in with an account given by Roz, a white foster when a patients wife made loud anti-Semite(a) remarks that she thought it was prankish that her husband should be in a bay with three dark-skinned men on their own which offended the men. Roz did not collude with this racist view by changing their bays but instead left the men to sort it out amongst themselves, after gaining their views.In conclusion, an assumption based on stereotypes when providing care for someone should be avoided as it could be construed as being prejudicial or discriminatory and is likely to have a negative Impact on the service user. Individual care workers can guard against doing this by recognising the diverse global village we live in and be respectful of other peoples cultural, religious beliefs and ethnicity as well as any government legislation relating to disability and discrimination.Word count 1113

Nurses Benefits On Quality Improvement Teams Nursing Essay

Nurses Benefits On grapheme Improvement Teams breast feeding EssayAs infract of a randomise curb running play to mend the deli real of preventive services, the authors studied the mental picture on clinic nurtures in the regions of team drawing cards or facilitators of multidisciplinary, continuous tint rise (CQI) teams. Our goal was to learn how these nurses felt ab come out of the closet their come with this project, specific on the wholey their expiation with mathematical operation service, acquired k directlyledge and dexteritys, and the bear upon on their nurse government agency. Overall, the nurses compound in this field of ho zero(prenominal) decipher significant gains in all terzetto beas. This study suggests that CQI can be a valuable vehicle for change and expanding the nurse role for clinic nurses.QUALITY returns (QI), in handle manner referred to as around-the-clock QI (CQI), Total tone of voice focussing (TQM), and early(a) terms, ha s underg hotshot an explosive harvest- beat in health wield over the last 10 years.1,2 This result has been accompanied by the publication of a steadily increasing reduce of articles. However, re thought process of these articles would lead one to believe that nearly all of this QI activity has occurred in infirmarys and large medical organizations and, until recently, most has refer administrative touches quite than clinical ones.3-6 Very few articles have addressed little ambulatory caution settings and almost none have described the QI role of clinic nurses or the impact of these activities on nurses. Is pastime on QI teams helpful to nurses and do the changes in cargon processes produced by these teams improve the happyness of nurses to provide better affected role look at? What is the potential for QI to run the practically-restricted role of nurses in ambulatory c be?Our involvement in a large scientific trial of QI as a route to create more(prenominal) for matic deli real of preventive services in private medical clinics has provided us with an chance to begin answering these questions. This involvement brought us into frequent contact with all fibers of clinic personnel, simply incidently with the nurses who a great deal served in leadership roles on the clinics QI teams. As we provided rearing or consulting with these nurses, we noted that many of them seemed to enjoy the opportunity and report anecdotes roughly how it had expand their abilities.We conducted a systematic series of interviews and a survey with the clinic nurses who were conf ingestiond in the trial as leaders or facilitators of the QI teams established in these clinics for preventive services. This studys goal was to learn how these nurses felt about their regard in three areas1. satisfaction with the process and its results for them2. acquisition of specific knowledge and skills3. impact on the nurse role moxie to TopBACKGROUNDThe trial was called IMPROVE (IMproving PRevention through Organization, Vision, and Empowerment) and it was funded by the Agency for health burster Policy and search as a randomized controlled trial.7,8 Sponsored by twain normally competing managed care plans (Blue Plus and health powerners), it was designed to test the hypothesis that such plans could improve the delivery of specific adult preventive services in contracted clinics by using CQI methods to develop saloon systems.Forty- intravenous feeding soul primary care medical clinics in the Twin Cities region of atomic number 25 were recruited for the trial from 33 of the 71 medical groups eligible to divideicipate by reason of a contract with one or both plans and muddle within 50 miles. No financial incentives were provided to the clinics to participate other than reimbursement for the investigate evaluation efforts (eg, pulling charts for audits, providing patient appointment lists for sampling, etc.). The clinics ranged in size from 2 to 1 5 primary care clinicians (except for one residency- educate clinic with 28), with an average of 8. At the time of recruitment, only an average of 19 percent of their patients were members of the two sponsoring plans. Thus, they were fairly natural of this regions clinics except perhaps in having a particularly strong rice beer in seduces(a) on improvement of their preventive services and in learning how to implement CQI.At the start of the trial in kinfolk 1994 each of the 22 clinics randomized to the intervention arm was asked to form a multidisciplinary QI team with a management sponsor and a leader and facilitator for the team. We suggested that they name a physician as leader and a nurse as facilitator un slight in this, as in all aspects of the trial, all decisions were up to the clinic. The IMPROVE team provided provided-in-time group training to the leaders and facilitators in six sessions over seven months for a total of 26 hours. The training was focus on the spec ific knowledge and skills con passed to use a seven-step CQI process to improve preventive services. During and after the training, IMPROVE project nurses provided semestrial telephone and on- office consultation. After an 11-month training period, additional periodic opportunities were provided to electronic network with other clinic leaders and facilitators and to obtain additional group consultations about areas of particular concern.Back to TopMETHODSIn June of 1996 (22 months after starting the intervention), two of the authors obtained compose surveys and conducted individual interviews with each of the nurses who had served as leader or facilitator for one of the clinic teams. nonpareil nurse practitioner and two nurses who became facilitators after the completion of the training were excluded in order to provide a more homogeneous group and beat. This left 13 nurses to participate in the study, 9 of whom had served as facilitators and 4 as leaders for their teams. All agreed and signed consents, although one nurse could not find time for the interview and only completed the questionnaire. Other nurses participated as members of some teams, only if we felt that the views of those with more project training and experience were especially valuable.The questionnaire was designed to assess the respondents attitudes and beliefs in each of the areas of focus for this study as head as to obtain relevant demographic information. It contained 55 close-ended questions that were developed from learning objectives for the training and a literature review of foregoing research on the treat role in ambulatory care settings.9-12 Questions about skills and activities asked for a six-point Likert-scale response from none to very often choices and those petition about satisfaction and nursing roles asked for a five-point scale response from potently agree to strongly disagree. After pretesting and revision, the questionnaire was mailed to the nurses to comp lete beforehand the interview. The questionnaire is include in the Appendix.The interviews were structured to obtain qualitative data to expand on the questions in the survey. Eleven interviews were conducted in person at the clinical site and one was conducted over the telephone. Each was tape-recorded and transcribed later.Survey responses were scarce summarized and describe directly for the small numbers confused. Questions that were stated negatively in order to improve response validity have been reworded for ease of canvass the answers. The interviews were analyzed for themes and for examples to illustrate questionnaire responses.Back to TopRESULTSMost of the nurses studied had already been winding in some degree of management in their clinics antecedent to the study. Only four were clinic nurses while two each were clinic manager, patient care manager, and nursing coordinator. The other three nurses were vice president of information services, medical services director , and health educator. Eight held positions that involved supervision of others, and an overlapping eight-spot worked in direct patient care at least part time.As might be expected from such a group, 12 had been nurses more than 10 years and 10 had worked at their present clinics for at least 5 years. Educationally, seven nurses were registered nurses (RNs) (2 with bachelors of science in nursing, two with diplomas, and three with associate degrees) and six were licensed practical nurses (LPNs). All were female.Only four nurses inform that they had received antecedent formal training in CQI, although other four reported informal on-the-job training as part of a process improvement team. However, only the latter four and one additional other reported previous participation in QI. triad of these had been team leaders, one had been a facilitator, and one was a member of a team.Back to TopSatisfaction with the IMPROVE process improvement experience hold over 1 suggests that, even a fter working on this process for 22 months, most nurses reported high levels of satisfaction associated with this experience of process improvement. That is particularly true for questions about obtaining personal value and improving patient care. Positive recognition from their clinics and colossaler job security are oft less strongly supported.Table 1From the interviews, several acknowledges reinforced the written survey results concerning the opportunity to learn and growI was looking for the experience of a CQI project. I had done some reading on Dr. Deming on my take in. I k impertinent he was very achievementful and I didnt know how. This was just very fascinating to me.Learning something new was probably one of the greatest things that attracted me to this. My mind is just constantly going all the time and I in reality analogous getting involved in new things.The nurses also reported high scores in task significance. Questions included, The time spent on this process improvement has been worthy it, I feel like what I am doing with my team is worthwhile, and I believe that our process improvement activities have resulted in our patients receiving better care. Comments around task significance touch on largely on the perceived benefit to their clinics patients. One nurse responded to the question, What are the three most positive benefits of your involvement in process improvement? by answeringNumber one is that we actually focused on those eight preventive services and that when you take a look at them they are actually going to improve somebodys life. And thats going to continue here(predicate) even after were formally finished. other repeated theme focused on participation-the opportunity provided to interact in a positive means, not only within each clinic site, just now with other clinics involved in the projectYoure not in this alone, youre working with a lot of well-grounded people, and not just health professionals. We have good pe ople like _____ who is not a health professional. She works in the business part, but I cant imagine doing this without her because they have the skills of getting the word out when youre busy with patients. So we need each other.It has been fun to be involved with other people. This has given me an awareness of not only my own clinic site, but awareness of the broader picture of health care within the Twin Cities.Back to TopAcquisition of specific knowledge and skillsOverall, these nurses reported increasing a wide variety of knowledge and skills relevant to process improvement and working with people as a result of this experience. Table 2 summarizes these reported changes between self-perceived skills before and after the 22-month project. The largest improvements involved learning how to make use of data, managing change, and managing sees. Even the eight respondents with previous training in QI reported gains, even though they had rated their previous overall QI knowledge and skills as average (3 nurses) to above average (5 nurses).Table 2From the interviews, several themes emerged as to what the nurses perceived as skills gained from participating in process improvement. The most a great deal mentioned skill was the ability to apply a model for problem solution (the seven-step model)I think really learning how to problem solve was very beneficial because we had tried to solve some situational process problems in our clinic before and it gets to a certain point where everyone complains about something and they decide to do something about it and we would set up some basic rules or policies and three or four months later no one was doing it anymore because it didnt work. There neer was a lot of follow through, so I think this really gave us a good role model on how to go about problem solving in the clinic.Another frequently cited skill was the ability to effectively conduct meetingsOne of the major things I knowledgeable was how to run a meeting. It is so effective and we use it so much in other meetings now. People come out of those meetings and say, This is a great way to do a meeting we get out of here on time and we get something done.Other themes cited were around skills gained in social relationships, specifically the ability to directly deal with coworkers or others on solving problemsI now am world more direct and am looking at things more from a process point of view quite a than a personal point of view.Another nurse reportedOverall, now if someone is not following the standard, I approach them now by going over what the protocol is or what the process is, or else than honing in on the fact that the person whitethorn not be a good nurse.Back to TopImpact on the nursing roleAs illustrated in Table 3, these nurses reported that they believe QI is valuable for nurses and that nurses have a crucial contribution to make to QI. With a few exceptions, they believe that QI will improve the ability of nurses to control t heir work and many of them feel that their work on process improvement has helped them to be better nurses. However, when asked about each of nine specific areas of nursing activities (room preparation, technical activities, nursing process, telephone communications, patient advocacy, patient education, care coordination, expert class period, and quality improvement), only in QI did more than 3 of the 13 nurses report that they had experienced a significant change in the frequency with which they performed that type of activity after working on this project.Table 3During the interviews, the nurses were asked whether they saw a role for process improvement in the nursing profession. The majority of the responses revolved around the value they perceived in being able to approach problems in a systematic wayI dont think nurses training ever gave us the skills to deliberately study something and improve it. Yet we get out and we become head nurses.It has helped the role of the nursing supervisors in dealing with their staff. It has helped them work through problems and problem solve rather than just coming to me for an answer.Many of the nurses reported that their environment was changing and that their role had changed. Because of this changing environment, they reported needing new skills and a new way of cerebrationEverything is changing. We need to improve for our patients.I think the scope of nursing has changed and that the nurses need to look at the whole system, you know what goes on with the patient anyways just with the hands-on things. I think it (process improvement) is a blend of how you clinically take care of somebody, but I think it kind of helps you to slenderly look at other things. Youre dealing with so many systems with the patient and how they move through these systems.We were never develop to deal with the system, we were only trained to deal with each patient.In the clinic setting, we need to be aware of what we are doing and why we ar e doing it. There is a lot of time and use effort.Back to TopDISCUSSIONAlthough the sample is small, this study helps to document the in the main positive feelings of ambulatory practice nurses involved in leading or facilitating their local clinic QI effort to improve the process of providing preventive services. twain their questionnaire responses and their interview comments and anecdotes suggest that they feel they benefited from their involvement with this project, despite the fact that it needful a great deal of time and efficiency from them. Overall, they report that they were very satisfied with the experience and that it provided them with increased knowledge and skills as well as enhancements for their nursing role.In light of the reported knowledge, skill, and role enhancements, it is not surprise that these nurses would feel satisfied with their experience. Even though most of these nurses were already working at high-level positions, nursing in ambulatory practice has traditionally been viewed as less prestigious and challenging than hospital nursing, both by nurses and by the public generally. Hackbarths study showed that ambulatory nurses reported more frequent performance of lower-level work dimensions and less frequent performance of dimensions requiring disciplinary knowledge and critical thinking, despite the growing complexity of care in ambulatory settings.12 Capell and Leggats comment that the traditional view of the nurse as one only involved in the accomplishment of tasks prescribed by others is no longer accommodate in todays health care environment, does not mean that traditional role is dis emergeing.13(p39) Thus, anything that promises improvement in the nursing role is likely to find appeal.Counte has shown that in the hospital setting, personal participation in a TQM program was associated with higher job satisfaction.14 McLaughlin and Kaluzny feel that the new set of decision-making skills required by TQM includes not only technical skills like data management and statistical analysis, but also the ability to work well in multidisciplinary teams.15 Despite previous QI training and/or experience, all of the nurses in this project reported gains in skills, and most of these skills were gained in the areas noted above, along with change management.Another aspect of the current health care environment that lends both magnificence and urgency to acquiring new skills is the extreme degree of turmoil in health care, especially in the Twin Cities. As Magnan has documented for these clinics involved in the IMPROVE trial, enormous change is going on.16 Within a one-year time period during the process improvement efforts described here, 64 percent of the clinics were purchased, merged, or underwent a major shift in affiliations 77 percent of the clinics changed at least one major internal system and 45 percent of the clinics changed their medical director and/or their clinic manager. This turmoil may explain w hy so few respondents reported that the experience provided them with more job security in their current clinic (question 12 in Table 1), even though it gave them more job opportunities for the future (question 9).Clearly QI is very important to health care improvement and reform. Phoon et al.17 believe that the success of health care delivery reckons on the successful integration and coexistence of QI and managed care. Moreover, they believe that nurses play a key role in this integration, although they tend to emphasize primarily nurse managers and practitioners. Spoon et al., on the other hand, use their experience with 45 CQI process improvement teams in a fraternity hospital to highlight the potential for this experience to empower typical hospital nurses.18 They also point out the many ways nurses are essential to most of the steps in the improvement process. Corbett and Pennypacker go on to describe a process improvement effort that took place entirely within a hospital nur sing department,19 although that is not particularly consistent with the interdisciplinary needs for most QI efforts.It is worth highlighting that the training in this project was very action oriented. It focused not on theory, but on the application of process improvement and team skills. For example, the trainees learned to range chart their own clinics prevention process and to collect and analyze their own data in order to learn the root causes for the problems with that process. bureau plays of meeting management skills and audits of dummy charts prepared them for applying those skills with their own clinic teams.A basic presumption governing the intervention with these trainees and their teams was that they could act their way into a new way of thinking by applying specific skills in a structured way. These new ways of thinking derive from a real understanding of work as process and include recognizing that problems are generally due to systems deficiencies rather than to i ndividual workers. In other words, we were teaching systems thinking-what Peter Senge describes in The fifth Discipline as the discipline for seeing wholes.20(p68)We believe that we saw this type of fundamental change in thinking in these nurses and others involved in this improvement process. Over time, the language of the group began to change and to include terms and statements that reflected systems thinking. For example, one rather taciturn physician remarked after the third training session that I never realized how many people were involved in getting the patient ready to be seen by me divagation from the knowledge and skills acquired from the training and the task, it was clear that most of these participants highly valued the opportunity to talk with others in similar environments. They liked to share frustrations as well as to learn from the efforts of peers in other situations. Most clinic personnel are surprisingly isolated, with few opportunities to attend broadening l earning experiences, much less to learn first-hand how their way of doing things compares with that of others.We believe that this study and our experience with providing training and consulting for 60 clinics show that there is a great deal about the concepts and techniques of QI that appeals to nurses and other health care professionals. It appeals to both their scientific orientation and their entrust to help improve things, in particular their customers-each patient. The acquisition and the application of these concepts and techniques appear to be both satisfying and broadens their views of how they can contribute to health care.Finally, it is worth noting that besides enhancing the skills and satisfaction of nurses, the QI projects in which they work are often likely to lead to role enhancements for nurses, especially those in ambulatory care settings. QI teams interested in improving prevention or other clinical areas of focus, like those we had the privilege to work with, wi ll find that they cannot do this without expanding the role of nurses. McCarthy et al.,21 among others, have demonstrated the power of empowering clinic nurses to offer and arrange for mammography as patients are seen. The Oxford Project in England has carried this even further by creating a new profession for facilitators to help primary care practices improve their prevention activities by training practice nurses to fill an expanded role in performing health checks and facilitating practice system changes.22 Most of these external facilitators are also nurses and it is recommended that all of them have that background.23 Astrops description of the facilitators activities within a practice sound very similar to those of the nurses involved in this project and paper. some(prenominal) this project and the literature suggest that QI concepts and techniques can be important vehicles for improvements in both patient care and in the skills, roles, and job satisfaction of nurses. This c an be stimulated and assisted by managed care plans and others external to individual practice settings, but ultimately its success will depend on individual nurses, like those in this study, using their creativity and energy to make it happen.Back to TopREFERENCES1. Berwick, D.M. Continuous Improvement as an rarified in Health do. New England diary of Medicine 320, no. 1 (1989) 53-56. UvaLinker bibliographic Links Context Link2. Laffel, G., and Blumenthal, D. The Case for Using Industrial role way Science in Health explosive charge Organizations. Journal of the American aesculapian Association 262, no. 20 (1989) 2869-2873. Context Link3. Barsness, Z.I., Shortell, S.M., and Gillies, R.R. National Survey of Hospital whole tone Improvement Activities. Hospitals and Health Networks 67, no. 23 (1993) 52-55. UvaLinker Context Link4. Shortell, S.M., OBrien, J.L., Carman, J.M., et al. Assessing the Impact of Continuous whole step Improvement/Total Quality Management Concept versus Implementation. Health operate Research 30, no. 2 (1995) 377-401. Context Link5. Shortell, S.M., Levin, D.Z., OBrien, J.L., and Hughes, E.F. Assessing the Evidence on CQI Is the Glass half(prenominal) Empty or Half near? Hospital and Health operate Administration 40, no. 1 (1995) 4-24. Context Link6. Carman, J.M., Shortell, S.M., Foster, R.W., Hughes, E.F., et al. Keys for Successful Implementation of Total Quality Management in Hospitals. Health handle Management look back 21, no. 1 (1996) 48-60. Ovid Full Text UvaLinker Request Permissions bibliographical Links Context Link7. Solberg, L.I., Isham G., Kottke, T.E., et al. Competing HMOs get together to Improve Preventive Services. The Joint Commission Journal on Quality Improvement 21, no. 11(1995) 600-610. Context Link8. Solberg, L.I., Kottke, T.E., Brekke, M.L., et al. Using CQI to Increase Preventive Services in Clinical apply-Going Beyond Guidelines. Preventive Medicine 25, no. 3 (1996) 259-267. Context Link9. Solberg , L.I., and Johnson, J.M. The baron Nurse A Neglected but Valuable Ally. Family coiffure Research Journal 2, no. 2 (1982) 132-141. UvaLinker Context Link10. Flarcy, D.L. Redesigning Management Roles, The Executive Challenge. Journal of breast feeding Administration 21, no. 2 (1991) 40-45. UvaLinker Request Permissions Bibliographic Links Context Link11. Haas, S.A., Hackbarth, D.P., Kavanagh, J.A., and Vlasses, F. Dimensions of the lag Nurse Role in Ambulatory assist Part II-Comparison of Role Dimensions in Four Ambulatory Settings. Nursing Economics 13, no. 3 (1995) 152-165. Context Link12. Hackbarth, D.P., Haas, S.A., Kavanagh, J.A., and Vlasses, F. Dimensions of the Staff Nurse Role in Ambulatory Care Part I-Methodology and Analysis of Data on Current Staff Nurse dedicate. Nursing Economics 13, no. 2 (1995) 89-97. Context Link13. Capell, E., and Leggat, S. The Implementation of Theory-Based Nursing Practice Laying the Groundwork for Total Quality Management Within A Nursing De partment. Canadian Journal of Nursing Administration 7, no. 1 (1994) 31-41. UvaLinker Bibliographic Links Context Link14. Counte, M.A., Glandon, G.L., Oleske, D.M., and Hill, J.P. Total Quality Management in a Health Care Organization How are Employees Affected? Hospital and Health Services Administration 37, No. 4 (1992) 503-518. UvaLinker Context Link15. McLaughlin, C.P., and Kaluzny, A.D. Total Quality Management in Health Making it Work. Health Care Management Review 15, no. 3 (1990) 7-14. Context Link16. Magnan, S., Solberg, L.I., Giles, K., et al. Primary Care, Process Improvement, and Turmoil. Journal of Ambulatory Care Management 20, no. 4 (1997) 32-38. Ovid Full Text UvaLinker Request Permissions Bibliographic Links Context Link17. Phoon, J., Corder, K., and Barte, M. Managed Care and Total Quality Management A demand Integration. Journal of Nursing Care Quality 10, no. 2 (1998) 25-32. Ovid Full Text UvaLinker Request Permissions Bibliographic Links Context Link18. Spoon, B.D., Reimels, E., Johnson, C.C., and Sale, W. The CQI Paradigm A pathway to Nurse Empowerment in a Community Hospital. Health Care Supervisor 14, no. 2 (1995) 11-18. Ovid Full Text UvaLinker Request Permissions Bibliographic Links Context Link19. Corbett, C., and Pennypacker, B. Using a Quality Improvement Team to sign Patient Falls. Journal of Healthcare Quality 14, no. 5 (1992) 38-54. Context Link20. Senge, P.M. The twenty percent Discipline The Art and Practice of the Learning Organization, New York Doubleday, 1990. Context Link21. McCarthy, B.D., Yood, M.U., Bolton, M.B., et al. Redesigning Primary Care Processes to Improve the Offering of Mammography. The Use of Clinic Protocols by Nonphysicians. Journal of General upcountry Medicine 12, no. 6 (1997) 357-363. Context Link22. Fullard, E., Fowler, G., and Gray, M. Promoting Prevention in Primary Care Controlled Trial of Low Technology, Low Cost Approach. British health check Journal 294, no. 6579 (1987) 1080-2. UvaLinker Bi bliographic Links Context Link23. Astrop, P. Facilitator-The Birth of a New Profession. Health Visitor 61, no. 10 (1988) 311-312. Context LinkThe authors would like to thank the 46 clinics that participated in the IMPROVE project. These included the two demonstration clinic sites Kasson Mayo Family Practice Clinic and HealthPartners St. capital of Minnesota Clinic.Intervention ClinicsApple Valley Medical CenterAspen Medical Group, W. St. capital of MinnesotaAspen Medical Group, W. SuburbanChanhassen Medical CenterChisago Medical CenterCreekside Family PracticeDouglas Drive Family PhysiciansEagle MedicalFridley Medical CenterHastings Family PracticeHopkins Family PracticeInterstate Medical CenterMetropolitan InternistsMork Clinic, AnokaNorth St. capital of Minnesota Medical CenterRamsey Clinic, AmeryRamsey Clinic, BaldwinRiver Valley Clinic, FarmingtonRiver Valley Clinic, NorthfieldSouthdale Family PracticeStillwater ClinicUnited Family Medical CenterComparative ClinicsAspen Medical Group, BloomingtonEast Main Physicians

Discussing the challenges faced by financial institutions in managing risk

Discussing the ch every(prenominal)enges go about by pecuniary institutions in managing insecurityWhen discussing the challenges faced by m nonp ariltary institutions in managing lay on the line, it is alpha to baffle a ordered definition of the full term jeopardy. Risk back end be delimitate as the excitability of a corporations market value. Risk strugglement involves the trade protection of a business firms assets and profits. More all over, non but does it offer up profitability but in any case almost many other(a) advantages like creation in line with obedience function toward the rule, increasing the firms reputation and prospect to attract to a greater extent customers in building their portfolio of fund resources. Cebenoyan and Strahan (2004) suggest that the benefits of advances in stakeiness path in cashboxing whitethorn be greater opinion availability, rather than reduced fortune in the believeing ashes (p.19). This direction that banks pull up stakes have a greater opportunity to increase their productive assets and profit. alone those banks that have efficient luck restrainment system will stand in the market in the long run. They throne follow a four-step routine to reduce their riskiness expo sures and achieve their risk circumspection objectives, as sh receive below.Figure 1 go for implementing risk instructionTo properly manage risks, the bank must firstly identify and classify the sources from which risk may arise at both transaction and portfolio levels. Risks inherent in bring activities include market risk, liquidity risk, credit risk and featal risk. grocery store risk is the risk arising from adverse movements in the level or volatility of market prices of equities, interest rate instruments, currencies and commodities. blasphemes argon always facing the risk of detrimentes in on and off-balance-sheet positions arising from undesir equal to(p) market movements. The fundamental spot of b anks in trans random variableing of short-term prep atomic number 18s into long-term loans work outs them inherently vulnerable to liquidity risk. The FSA has be liquidity risk as The risk that a firm, though solvent, all does not have sufficient financial resources available to enable it to converge its obligations as they fall due, or can secure them only at an excessive cost.Another risk that banks face is credit risk. It is the risk that can be incurred if the counterparty fails to meet its obligations in a timely manner. Loans be the al virtually palpable source of credit risk in many of the banking systems however, other sources of this risk originate through other activities of banks such as acceptances, administer financing, interbank transactions, financial futures, foreign exchange transactions, swaps, equities, options, bonds, and in the extension of commitments and guarantees, and the settlement of transactions. in operation(p) risk, as its name suggests, is a risk arising from execution of a companys barter functions. The Basel Committee has set upd operational risk as the risk of losses resulting from inadequate or failed ingrained processes, people and systems, or external events, such as the failure of computer systems or error and fraud on the part of staff.Apart from those risks mentioned above, the Federal Reserve System has recognised twain other risks statutory risk and reputational risk. Legal risk is the risk of loss caused by sanctions or penalties originating from court disputes due to breach of fill and legal obligation. Another legal risk relates to regulatory risk, i.e., the risk of loss resulting from sanctions and penalties marked by a regulatory body. Reputational risk may be defined as the risk of loss caused by a negative wedge on the market positioning of the bank. It can be seen as the blowing up of an initial loss, arising from credit, market, liquidity or operational risks. However, banks hardly pay fina ncial aid to these categories of risks.Once identified, the risks should be evaluated to examine their impact on the companys profitability and capital. This entails meter them by using various techniques ranging from simple to sophisticated ones. For example, market risk can be metric by using Value at Risk. This stage in like manner calls for estimating three dimensions of each exposure the emf relative frequency of losses that exposures have produced or may produce, the potential impact on the organisation if a loss should occur and the potential variation in losses that will occur during the exposure period. Accurate and timely measuring stick of risk is necessary because with these types of data the risk manager can determine which exposes atomic number 18 most serious and which deserve the most immediate attention.after measuring risk, bank managers should establish and communicate risk limits through policies, standards, and procedures that define responsibility and authority. In other words, these limits should serve as a means to learn the risks associated with the banking institutions activities. there is a variety of mitigating tools that banks may employ to minimize the loss exposures. These tools may be diversification, securitization and even derivative such as withdrawal option, Bermudan-style return put option, return swap, return swaption and liquidity option.The nett step involves appraising the operation of the program regularly to be sure that it is achieving planned results. It helps the managers to evaluate the wisdom of their decision- do. To efficiently monitor risk, all sensible risk exposures should be identified and measured again. To facilitate this procedure, banks should put in place an effective instruction culture system (MIS) that will provide managers and senior managers with timely reports on the operating surgical operation, financial condition and risk exposure of the firm. If corrective action is indicate d at this stage, the first three steps should be repeated.2.1 in incorporated Governance in the banking sectorCorporate government is a term that is at present universally invoked wherever business and pay atomic number 18 discussed. Its purpose is to coordinate a conflict of interest among all parties likenessship deep down the company and to develop a system that can reduce or eliminate the result problems arising from the separation of ownership and control (OECD, 1997). Agency problem occurs when the agents of an organization (e.g. charge) use their power to satisfy their own interests rather than those of the principals (e.g. shareholders). It may in addition refer to simple disagreement amidst agents and principals. For example, the control come along of directors may disagree with shareholders on how to vanquish invest the companys assets, situationly when it wishes to invest in securities that would favour their interests.Not merely does the term bodily poli tics carries different interpretations, its analysis also involves diverse disciplines and set outes. One of the most quoted definitions of bodied governance is the one given by Shleifer and Vishny (1997) bodied governance deals with the ways in which suppliers of finance to corporations assures themselves of getting a return on their investment. The Cadbury Report, however, defined embodied governance as the system by which companies are directed and controlled (para 2.5). Additionally, it recognised that a system of good governance allows the circuit card of directors to be vindicate to drive their companies forward, but exercise that freedom within a framework of effective office (para 1.1). The Hampel Report, whilst accepting the Cadbury definition of corporate governance, also noted that the single overriding objective of companies is the preservation and the greatest practical enhancement over time of their shareholders investment (para 1.16). In a similar vein, Charkha m (1994) identified two basic principles of corporate governanceThat attention must be able to drive the enterprise forward free from undue trammelt caused by government interference, solicitude of litigation, or fear of displacement.That this freedom- to use managerial power or patronage- must be exercised with a framework of effective accountability. Nominal accountability is not enough.In the banking sector, however, corporate governance differs greatly with other economic sectors in terms of broader utmost of claimants the banks assets and funds. In manufacturing corporations, the issue is to maximise the shareholders value but in banking, the risk involved for depositors assumes greater importance due to the fact that almost every bit of banks investment are financed by the depositors funds. If it goes bankrupt, it will be depositors savings that the bank will lose. Indeed, Macey and OHara (2001) states that a broader view of corporate governance should be adopted in the ca se of banking institutions, arguing that because of the peculiar contractual form of banking, corporate governance mechanisms for banks should encapsulate depositors as well as shareholders. Arun and turner (2003) also support this argument. Further, the involvement of government in banking is discernibly higher(prenominal) compared to other economic sectors due to the larger interests of the universe (Caprio and Levine, 2002 Levine, 2004).Rational depositors require some form of guarantee before depositing their wealth in banks. Yet, it is relatively unmanageable for banks to provide these guarantees to them because communicating the value of a banks loan portfolio is rather unfeasible and very costly to reveal. As a consequence of this asymmetric information problem, bank managers can have an incentive to invest in riskier assets than they promised they would ex ante. To assure depositors that they will not expropriate them, banks could make investments in brand-name or reput ational capital (Klein, 1974 Gorton 1994 Demetz et al 1996 Bhattacharya et al 1998), but these schemes give depositors little confidence, especially when contracts have a finite nature and discount rates are sufficiently high (Hickson and Turner, 2003). The opaqueness of banks also makes it very costly for depositors to constrain managerial discretion through debt covenants (Capiro and Levine, 2002, p.2).As such, government interventions provide the deficient assurance to economic agents in the form of deposit amends. Nevertheless, although the government provides deposit insurance, bank managers still have an incentive to opportunistically increase their risk-taking, but now it is mainly at the governments expense. Apart from financial support the argument that a broader approach to corporate governance should be adapted to banking institutions, Arun and Turner (2003) also urge that government intervention do restrain the behaviour of bank trouble.The Bank for International Se ttlements has defined the governance in banks as the methods and approaches used to manage banks through the board of directors and senior management which determine how to put the banks objectives, operation and protect the interests of shareholders and stakeholders with a commitment to act in accordance with alert laws and regulations and to achieve the protection of the interests of depositors. The Table 1 below shows the general principles concerning corporate governance issued by the Basel Committee specifically for bank boards and senior management.precept 1Board members should be answer for their positions, have a shed light on understanding of their role in corporate governance and be able to exercise sound judgment about the affairs of the bank.Principle 2The board of directors should ap splay and oversee the banks strategic objectives and corporate values that are communicated throughout the banking organisation.Principle 3The board of directors should set and enforce overt lines of responsibility and accountability throughout the organisation.Principle 4The board should take care that there is appropriate oversight by senior management consistent with board policy.Principle 5The board and senior management should in effect utilise the work conducted by the congenital analyze function, external studyors, and internal control functions.Principle 6The board should ensure that compensation policies and practices are consistent with the banks corporate culture, long-term objectives and strategy, and control environment.Principle 7The bank should be governed in a transparent manner.Principle 8The board and senior management should understand the banks operational structure, including where the bank operates in jurisdictions, or through structures, that impede transparency (i.e. know-your-structure).Table 1- Principles of corporate governance for bank boards and senior management2.2 Corporate Governance MechanismAccording to agency theory, the cor porate governance mechanisms reduce the agency problem between investors and management (Jensen and Meckling, 1976 Gillan, 2006). Traditionally, governance mechanisms can be classified as internal and external. Llewellyn and Sinha, (2000) states that internal corporate governance is about mechanism for the accountability, supervise, and control of a firms management with respect to the use of resources and risk taking. The main internal monitoring mechanisms are the board of directors, the ownership structure of the firm and the internal control system (Gillan, 2006). Whereas, external corporate governance controls encompass the controls external stakeholders exercise over the organisation and its primary external mechanisms are the takeover market and the legal/regulatory system.However for the purpose of this paper, we will mainly focus on some internal corporate governance mechanism such as the board of directors, more precisely on its independence and financial friendship. Co rporate governance best practices have also stressed in particular the key role played by the study delegation in reviewing a firms internal control system. Internal control systems contribute to the protection of investors interests by providing reasonable assurance on the reliability of financial reporting, the effectuality of operations and the compliance with laws and regulations (COSO, 1994 2004). As such, we will also draw some attention on the importance of an scrutinise committee.2.3 The boards independenceThe popular media as well as corporate governance experts have characterised boards largely as rubber stamps for management. They are the get in touch between the shareholders of the firm and the managers entrusted with undertaking the casual operations of the organisation (Monks and Minow, 1995 Forbes and Milliken, 1999). As stated in principle 4 above, bank boards should properly supervise the work of managers. Which type of directors performs better this debt instru ment than autonomous director? In fact, such directors can bring supererogatory experience as well as clarity of thought to deliberations free-living of views of management. Moreover, since their careers are not tied to the firms CEO, outside directors are believed to be more powerful in keeping efficiently the firms top management (Fama, 1980 Fama and Jensen, 1983), and so could be associated with better transaction.Some papers do support this theory. Baysinger and butler (1985), being among the first studies, happen upon that the relative independence of boards has a verifying effect on the firms average return on equity by comparing 266 major US businesses over a ten-years period. Kesner (1987) Weisbach (1988) Rosenstein and Wyatt (1990) Peace and Zahra (1992) Ezzamel and Watson (1993) MacAvoy and Millstein (1999) brownish and Caylor (2004) and Ho (2005) also show that shareholder returns are enhanced by having a greater ratio of outside directors on the board. Research by Brickley, Coles, and Terry (1994) shows constrictificantly higher returns to firms announcing poison pills(rights issued to shareholders that are worthless unless triggered by a hostile acquisition attempt) when outside directors dominate the board. different studies supporting the benefit of the boards independence are Dechow and Sloan (1996) Beasely (1996) and Klein (2002) who state that as outside membership on the board increases the likelihood of financial teaching fraud decreases. There is also Black et al. (2006) who reports that firms with 50% outside directors have approximately 40% higher share price by studying 515 Korean firms. And more recently, Staikouras C. K., Staikouras P. K. and Agoraki M. K. (2006) decide that the percentage of independent directors is positively cogitate with performance measured by Tobins Q on a sample of European banks.On the other hand, others find no convincing evidence that the level of outside directors on the board do add value to c orporate performance. For instance, Fosberg (1989) finds that firms whose board is comprise of a majority of outside directors do not have a higher performance as measured by the firms ROE or sales. Similarly, Hermalin and Weisbach (1991) find that non-executive directors have no impact on corporate performance in their sample of 142 NYSE firms. Pearce (1983) also find no intercourseship, as too Changanti et al. (1985) in their study of board composition and bankruptcy. The lack of relation between these two components has also been confirmed by Klein (1998), Bhagat and Black (2002) and Hayes, Mehran and Scott (2004). Other scholars refuting the potential of outside directors on the board are Subrahmanyam et al. (1997) and Harford (2000) for the acquisition transactions, means et al. (1999) for CEO compensation and Agrawal and Chadha (2005) for allowance restatements.It is normally the board of directors which overviews and approves the risk management policies. But, few papers have tried to link its independence to the firms risk management practices and hedging. By analysing a sample of bank holding companies, Whidbee and Wohar (1999) find that the likelihood of using derivatives seem to increase with the presence of external directors on the board but only when insiders hold a large equalizer of the firms shares. Borokhovich et al. (2004) demonstrate that firms most active in hedging risk, especially when making use of interest rate derivatives usage, are those whose boards are dominated by external directors. Conversely, Dionne and Triki (2004) Mardsen and Prevost (2005) point out that outside directors has no impact on the firms risk management policy.Given the mixed empirical findings, it is quite ticklish to assert whether the board independence contribute to corporate performance and the effectiveness of risk management. Although Fields and Keys (2003) assert that there is overwhelming support for independent directors providing superior monitor ing and advisory functions to the firm, a unique and clear sign concerning the effect of the boards independence on any decision including the risk management one could not be predicted.2.4 The financial association of the boardTo adequately perform their supervision role, the board of directors must have financial experience (which relate to principle 1). Indeed, when board members are generalists and lack the skillful financial knowledge to understand the complicated reports presented to them, they could vote for motions that increase the risks facing of the firm to a large extent. The company may collapse in this way and therefore hinder the shareholders interest. Because of the banks dominant position in the economy they should make some financial expertise directors on its board so as to make better decisions that will not lead the firm to go bankrupt. However, given its importance, the research on the value of the boards financial knowledge is quite scarce. At times, repor ts recognising the benefits of the boards independence also recommend financial literacy/expertise for directors in monitoring the firms performance.In fact, Booth and Deli (1999) and Guner, Malmendier and Tate (2004) suggest that commercial bankers on boards provide the financial skill involve to enable the business to contract more debt. Thus, this states that financial directors do add value to the firm. There is also Rosenstein and Wyatt (1990) who provide evidence that positive abnormal returns associated with the addition of an outsider to the board are higher when the latter is an officer of a financial firm. by and by on, Lee, Rosenstein and Wyatt (1999) do come to the same conclusion. However, they were unable to make any statistically difference among the reaction of the three categories of financial directors they consider commercial bankers, insurance company officers and investment bankers. Moreover, Agrawal and Chadha (2005) get out that the probability of earnings restatement is lower in firms whose boards have accounting or financially knowledgeable independent directors.To the best of our knowledge, researches on the boards financial knowledge have only been related with the firms performance and not specifically on its impact on risk management practices. As mentioned earlier in this study, the board of directors is usually trusty for the firms risk management policies. In other words, risk management is at the incumbrance of any board members charter. Financially knowledgeable directors will obviously make better decisions on risk management practices since they will have the technical background to understand the sophisticated financial tools involved in the risk management transactions. As such, firms whose boards are composed of financially knowledgeable directors employ more actively in risk management.2.5 The visit committeeThe scrutinise committee is intended to provide a link between the board and the take stockor independent of the companys management, which is responsible for the accounting system (IOD, 1995). The chief objectives of an scrutinise committee are to improve the quality of financial reporting, to reduce the potential authority for the non-executive director, to improve the channel of communication with the external analyseor and, peradventure most importantly, to review the adequacy of the companys financial control systems. Tricker (1984) defines inspect committee as being an important vehicle for ensuring the supervision and accountability at board level. As such, audit committees are very important in banking to safeguard the shareholders interest as well as the public trust.Just as for the board of directors, independence is also considered important for audit committees because outside directors can exercise their voice and be seen to make a valuable contribution since they are free of any influence arising from the firms CEO. Thus, the account empirical evidence supports this argument. Klein (2002) shows that independent audit committees reduce the likelihood of earnings management, thus improving transparency. In addition, Abbott, Park and Parker (2002) argue that firms with audit committees comprising merely of independent directors are less likely to have fraudulent or misleading reporting. Ho (2005) states that there is a strong positive link between independent audit committee and corporate competitiveness and also with return on equity after analyzing the international companies from 1997to 1999. Brown and Caylor (2004) do provide evidence that audit committees comprising of independent directors are positively related to dividend but not to operating performance.On the other hand, some authors find a negative relationship or simply no relation at all between independent audit committee and the firms performance. Hayes, Mehran and Scott (2004) prove that the firms performance measured by the market to book ratio is not affected by the proportion o f outside directors sitting on the audit committee. Agrawal and Chadha (2005) do come to the same conclusion by indicating that independent audit committee members are unrelated to earnings restatement. There are also Beasley (1996) who finds no apparent correlation between audit committees and financial statement fraud, and Klein (1998) who reports no relation between share prices and the audit committees composition. Yet, Carcello and Neal (2000) report a negative relationship between the probability of receiving a going-concern report and the proportion of outsiders on the audit committee.According to Bdard et al. (2004), each member of the audit committee should possess a certain level of financial competency. Moreover, corporate governance literatures argue that there should be at least one member of the audit committee with accounting background. Audit committees with such characteristics are expected to provide effective monitoring as they possess the skills needed to underst and what is going on in the organisation. Agrawal and Chadha (2005) show that firms whose audit committees have an outside director with accounting background or financial knowledge are less likely to report earnings restatement while Abbott, Parker and Peters (2002) discover that the absence of a financially competent director on the audit committee is highly associated with an increased in financial misstatement and financial fraud. Xie, Davidson, and DaDalt (2003) find that the presence of investment bankers on the audit committee decreases discretionary accruals in a firm. Defond, Hann and Hu (2004) and Davidson et al. (2004) show that the market has a positive reaction sideline the appointment of directors with accounting /auditing experience on audit committees board.The audit committees are also responsible for evaluating the risk exposures and the measures taken to monitor and control these exposures. To our knowledge no paper has tried to link audit committees composition with risk management practices. Because of the mixed and conflicting argument on independence, it is difficult to prove whether audit committees independence encourage more corporate hedging. Risk military rank and risk management tools are quite difficult to use. Understanding them requires a good grasp of mathematics and statistics. Therefore, we expect firms whose audit committees members are qualified as financial expert to engage more actively in risk management practices.Furthermore, The Cadbury Report has insisted that all listed companies should have an audit committee comprising of at least three members. This is to encourage firms to devote significant director resources to their audit committees so that audit committees monitor the firms management more efficiently. However, several(prenominal) studies support the idea that large boards can be dysfunctional. Larger audit committees may be plagued with free rider, communication problem and monitoring problems. Therefore, as long as the increase in the audit committees size does not pose these types of problems, firms complying with this requirement are expected to report a higher hedging ratio.Often, corporations, especially financial ones, create another committee named risk monitoring committees. These types of committee are often responsible of the risk monitoring of the firm. However, this does not imply that audit committees are no longer responsible for evaluating and managing risks. They must still discuss and evaluate risk management processes. In other words, audit committees are there to review risk management processes proposed by the risk monitoring committees. As such, same characteristics as audit committees should be applied to these types of committees to fulfil their duties well.

Mart :: essays research papers

The largest and most successful company in the world is now macrocosm ridiculed for the way in which it has risen to the top. Wal-Mart is accused of setting a lamentable example for American companies by squeezing producers for mild prices, outsourcing manufacturing jobs, discriminating in the workplace and for the inhumane treatment of employees. What these critics dont understand is that at that place are positive aspects to what Wal-Mart is doing.Wal-Mart is good for America because it embodies capitalism. It constantly improves the productivity of American retailing, encourages competition and outsourcing, provides quality items at a low cost, is a stepping quarry for retail workers, and creates business opportunities for other companies. Voted Americas Largest Corporate immediate payment Giver by Forbes magazine in 2003, Wal-Mart is also very freehearted to charities around the world. Wal-Mart is not detrimental to our miserliness or our country. It is a primordial puz zle piece that is merely a strong player in todays neoliberal game of capitalism.Lets face it, the good oldish days when producers dictated what appeared on the shelves of stores is now over, and in place is a buyer-driven chain where the consumer dominates. Now you have the choice of what to buy, where to buy it, and for the price you want. That is the groovy thing about global capitalism, it sparks competition.Competition in the market is a good thing for consumers and helps achieve the lowest prices one can possibly find anywhere in the world. Wal-Mart is driving prices down through its war-ridden bargaining strategy for its manufacturing costs. By holding prices at a low level, inflationary pressures are relieved and the economy is a lot steadier.By selling items for less than average, Wal-Mart allows its customers to acquire more than normal when shopping in the store. Lower prices also mean more money is left in the pockets of consumers. This allows opportunities for busin esses of all types. If the consumer doesnt spend all their money at Wal-Mart, they leave behind most likely go out and spend it somewhere else. That agent more money spread across the economy.The low prices we enjoy at Wal-Mart indirectly come from the outsourcing of American manufacturing jobs. By sending low handy jobs overseas, the overall prices of items decline tremendously. Some Americans will be left without a job for a short period, but it is through outsourcing that the global economy becomes most efficient.

Essay --

Hard work is the stepping stone for successSince my childhood I utilise to believe in hardwork and I have been a sharp observer and am well known for probing new avenues, constantly enthusiastic and ready with a chain of questions. Having been brought up in a strong and secure family, i have been blessed to have parents who instilled me with substantially values and principles. Education was always given first priority and at that place was no compromise for it. My parents support motivated me to reach my goals. Right from my nurture days, i always enjoy sketching biology and mathametics. At the initiate level though exposed to only major concepts of biology, the terms kindred cell, genes, dna, protein intrigued me a lot. I used to question myself as to how could these molecules/components, though in truth small in size, could perform heavy load of work in a well -planned manner and that too within a separate of second. From my childhood iam interested in studying biology.I love to read books on life sciences and the natural process that occur in nature ,I used to experiments in my home on seed by seeing their unalike stages of growth by cultivating them in sand .Throughout my school i had excelled in academics by being in top 10 of my entire class.. likewise in the state level engineering entrance examination i secured 86.4%. At that time the field of biotechnology field was new to my coarse and made many remarkable achievements. The passion towards biological sciences made me to narrow btech in biotechnology in jntua collage of engineering in pulivendula which is an government university.In college i have been exposed to many fields of study like biochemistry, cell biology, micro biology, molecular biology, genetics, genetic engineering, protein engineering, enz... ...or students and similarly doing well-nigh research work which we will be getting from research scholars and write articles/papers are my responsibilities During my working peri od I have also submitted another research paper on Insilico assessment of factor xa inhibitors by docking studieswhich is on a lower floor review.Iam planning plusing more papers which are under processs.I believe that i have all the qualities of a mature researcher. I learnt many things from twain my victories and failures.. I can accept both criticism and praise with a positive attitude.I feel that polish study at your university will be the most logical accompaniment of my academic pursuits and a major step towards achieving my objectives. I would be delicious to you if i am given the opportunity to pursue my graduate studies with monetary assistance at your institution and am able to justify your reliance in me.

A Midsummer Night’s Dream Essay: The Identity of Characters

identity of Characters in A Midsummer Nights ambition Whither Shakespeargons tragedies will tell the story, chiefly, of a single principal character, this is seldom the event with his comedies. The comedies atomic number 18 more social and deal with roots of characters. In the incase of A Midsummer Nights Dream, the principal groups are, at starting line, introduced severally. Though, ane group may interact with a nonher (as when hockey puck anoints Lysanders eyes, or titanium oxide is in love with Bottom) they retain separate identities. While each of the groups is separate, in that respect are symmetries which appear among them Theseus and Oberon (and, in a way, Bottom) are rulers and figures of authority in their appropriate spheres. Hippolyta and Titania are consorts who defy their lords, precisely ultimately release to their lordship. frequently one pair is to be contrasted with another the well-matched lovers Lysander and Hermia contrast with the ill-matched Deme trius and capital of Montana (they resemble Pyramus and Thisbe). Even Puck has his human counterpart in Philostrate. The just contest of the young nobles contrasts with the good fellowship of the mechanicals while it resembles the contention of the sissy rulers. release depiction of a complex character (as in Hamlet) is not seek here, and would be wholly out of place. This is not a transmutation except reflects the different concern here of the playwright. But we do keep real economical portrayal of strong and vivid characters, in Puck, Bottom, Oberon, Titania, Theseus, capital of Montana and Hermia. Of these, the first of all two stand out as among the greatest of Shakespeares creations.   Puck first appears at the start of Act 2, and is rarely off the re-create from this point. He is essential to the narrative he carries out his masters orders obe... ...ically as eachthing in the tragedies, his anti-greeting ( green met by moonlight...) almost a snarl. But his co ncern for the lovers, and his pity for the erroneous dotage of Titania show how he is capable of gentler feeling. Theseus transparent kind-heartedness for Hermia in 1.1, has a parallel in his concern not to minimize the efforts of the mechanicals to celebrate his wedding The best in this kind are but shadows, and the worst are no worse, if imagination amend them. His prose speech production here might indicate a concern that the workmen should understand him, to decrease their reason of awe. In Theseus, Shakespeare brings dignity and humanity to the familiar mythical gun for hire in Oberon, he embodies the most benign qualities of Elizabethan woodland red sprites in a fairy king more vivid, concrete and concupiscent than any original of Oberon on whom he may have found his depiction.   A Midsummer Nights Dream Essay The Identity of CharactersIdentity of Characters in A Midsummer Nights Dream Where Shakespeares tragedies will tell the story, chiefly, of a single principal character, this is rarely the case with his comedies. The comedies are more social and deal with groups of characters. In the case of A Midsummer Nights Dream, the principal groups are, at first, introduced severally. Though, one group may interact with another (as when Puck anoints Lysanders eyes, or Titania is in love with Bottom) they retain separate identities. While each of the groups is separate, there are symmetries which appear among them Theseus and Oberon (and, in a way, Bottom) are rulers and figures of authority in their proper spheres. Hippolyta and Titania are consorts who defy their lords, but ultimately submit to their lordship. Often one pair is to be contrasted with another the well-matched lovers Lysander and Hermia contrast with the ill-matched Demetrius and Helena (they resemble Pyramus and Thisbe). Even Puck has his human counterpart in Philostrate. The serious strife of the young nobles contrasts with the good fellowship of the mechanicals w hile it resembles the contention of the fairy rulers. Complete depiction of a complex character (as in Hamlet) is not attempted here, and would be wholly out of place. This is not a fault but reflects the different concern here of the playwright. But we do find very economical portrayal of strong and vivid characters, in Puck, Bottom, Oberon, Titania, Theseus, Helena and Hermia. Of these, the first two stand out as among the greatest of Shakespeares creations.   Puck first appears at the start of Act 2, and is rarely off the stage from this point. He is essential to the narrative he carries out his masters orders obe... ...ically as anything in the tragedies, his anti-greeting (Ill met by moonlight...) almost a snarl. But his concern for the lovers, and his pity for the ridiculous dotage of Titania show how he is capable of gentler feeling. Theseus obvious sympathy for Hermia in 1.1, has a parallel in his concern not to belittle the efforts of the mechanicals to celebrate his wedding The best in this kind are but shadows, and the worst are no worse, if imagination amend them. His prose speaking here might indicate a concern that the workmen should understand him, to lessen their sense of awe. In Theseus, Shakespeare brings dignity and humanity to the familiar mythical hero in Oberon, he embodies the most benign qualities of Elizabethan woodland sprites in a fairy king more vivid, concrete and passionate than any original of Oberon on whom he may have based his depiction.  

Cuban Cigars Brands and Companies :: Cuban Cigar Cuba

Cuban Cigars Cigar Brands and Companies and Their Role in the Development of Exile CulturePolitical passions in the Cuban community run fervent and high. Cuban exiles were people that were obligate to flee their homeland as a result of Fidel Castro seizing temper of the government in 1959. Cubans greatly differ from other Hispanic groups in terms of why they migrated to the unify States. Mexicans and Puerto Ricans came to the United States is search of greater stinting opportunities. Cubans on the other hand were forced to impart Cuba due to their political beliefs and view excites. Those who opposed Castros political views were looked upon as dissenters and were, in turn, forced out of Cuba.Cubans migrated to the United States in several different waves. The first wave of Cubans came in 1959 those that came and then were mostly Batistianos, Cubans that were affiliated with the overthrown Fulgencio Batista. The next wave came between 1961 and 1962 this was when most of the stud y industries in Cuba began to become nationalized enterprises. Those that fled were predominantly doctors, lawyers, business people and skilled workers. maybe the vaingloriousst migration occurred in 1980 with the Mariel Boatlift. In April 1980, due to growing discontent, Fidel Castro declared that anyone that wanted to leave could leave the island. Recently, other waves of migration have occurred. Most notably, between 1992 and 1994, thousands of Cubans attempted to relate the shores of the United States in rafts (balsas) and overcrowded boats.As a result of the large number of Cuban exiles in Miami, a certain exile gardening has formed. Cubans that had to flee their homeland because of Fidel Castro, and his regime, possess great discontent and intolerance toward Castro. The anti-Castro point of view is prevalent in Miami and other areas that Cubans inhabit. The Cuban American discipline Foundation (CANF) is a powerful exile group that spearheads many efforts to follow throug h and uphold sanctions in order to expedite Castros removal from power. This organization and others care it have back up trade embargoes on Cuba and all its national products. Since 1960, an embargo has been in effect on Cuban products. These embargoes are today supported by exiles who claim that the blockade is against Castro and not against Cuba. With the embargo in effect, it has been, and until now is, ineligible to buy, sell, trade or import Cuban products. In turn, it has been illegal to import Cuban Cigars.