Indias Financial Markets

Indias m one and only(a)tary merchandisesAs invariablyy(prenominal) the monetary Markets in India together form the Indian Financial Markets, each(prenominal) the Financial Markets of Asia together form the Asian Financial Markets homogenizedwise tot entirelyy the Financial Markets of all the countries of the knowledge base together form the global Financial Markets. Financial Markets deal with trading ( bargaining and selling) of pecuniary securities ( painss and bonds), commodities (valuable metals or food grains), and new(prenominal) transposeable and valuable items at minimum transaction costs and merchandise efficient footings. Financial Markets can be domestic or international. The international Financial Markets work as a significant musical pawn for better liquidity.Financial Markets can be categorized into six typesCapital Markets buy in marts and Bond merchandiseplacesCommodity Markets silver MarketsDerivatives Markets Futures Markets indemnity Mark etsForeign mass coupleing MarketsThe Financial Markets play a major role in the Global frugality because it champions businesses to raise heavy(p) (in hood grocery stores), they facilitate transferring of risk (in derivative trades), and they help international trade (in currency securities industrys) to prosper. The International source Markets form a major part of the Global Financial Markets. The Amsterdam run mass meeting is the oldest stock trade, which started operating in sustained trade in the before part of the 17th Century. around of the Important post supervene upons of the instau symmetryn atomic number 18The New York Stock swop (merged with Euro bordering) The New York Stock Exchange (NYSE) is a stock put back based in New York City, USA that was incorpo appreciated in 1817. In footing of dollar volume, it is the largest stock exchange in the world, and in marchess of the number of companies listed it is the second largest stock exchange in the w orld. The NYSE is also known as the Big Board. The indexes used in the NYSE atomic number 18 the NYSE Composite superpower and the Dow Jones Industrial add up Index. The NYSE functions under NYSE Euro next, the formation of which was the result of NYSEs coalition with Archipelago Holdings and Euro next.capital of Japan Stock Exchange The Tokyo Stock Exchange (TSE), incorpo layd in 1949, is primed(p) in Tokyo, Japan. In terms of monetary volume, The Tokyo Stock Exchange is the second largest stock exchange in the world, only next to New York Stock Exchange. The indexes used in the TSE atomic number 18 Nikkei 225, Topix, and J30.NASDAQ The National sleeper of Securities Dealers Automated Quotations, or NASDAQ, is an electronic stock mercenaryise based in New York City, USA that was incorporated in 1971. The NASDAQ Stock Market, Inc. is the owner and regulator of NASDAQ. The main index used in NASDAQ is the NASDAQ Composite.capital of the United Kingdom Stock Exchange Establi shed in 1801, the London Stock Exchange (LSE) is one of the oldest and largest stock exchanges in the world. In terms of market capitalization, the London Stock Exchange was ranked 4th among all the other important stock exchanges in the world in defect 2007. The London Stock Exchange is located in Paternoster Squargon near St. Pauls Cathedral, London. The stock market index of London Stock Exchange is the Footsie (FTSE).Euro next (merged with NYSE) Founded in 2000, Euro next N.V. is a pan-European Stock Exchange, which is based in Paris. In terms of market capitalization, Euro next ranks as the fifth largest stock exchange in the world. There was a merger of Euro next with the NYSE Group, which led to the formation of NYSE Euro next and it is the archetypal global stock exchange. The main indexes used in Euro next argon the Euro next 100 Index and the Next 150 Index.The Bombay Stock Exchange (BSE) Located in Mumbai, India and founded in 1875, the Bombay Stock Exchange is the ol dest stock exchange of Asia. The main index of BSE is confabed the BSE Sensex (Sensitive Index) or the BSE 30. In terms of volume of transactions, the BSE was ranked as one of the hint volt stock exchanges in the world in 2005. Some terms that argon used in the Global Financial Markets atomic number 18Geek, a QuantGrimNerd, a QuantQuantBig Swinging DickRocket Scientist egg white KnightToday equity research has become a narrow down activity, although confined to a very small segment of the market. It would be a little early to consider equity research as an item-by-item business segment, but at the same time it must be appreciated that the grade of equity research is being felt by the market. This is an chaseing stage in the growth and organisement of equity research, specially in a situation where the traditional individual investor is un leading to founder for vital stock related information while the institutional investor is already paying for research reports. The p henomenal growth of the monetary markets over the delay quarter of a centimeury has meant that the very character of investment has changed with ever larger scales of market capitalization. The emergence of the Fund Manager as a new value addition in investment related fiscal services is actually a part of the growth and development of the institutional investor. The fund managers sole objective is to ensure maximum returns for his lymph nodes whose nones he invests on the job(p) in tandem with research inputs. The fund manager and his client ar a vital part of the institutional investment wait on sustained by an advanced and research driven approach to capital market investment. Equity research still has some time to develop as a sustainable business model, but like every other research activity it has its limitations in developing into a boom business. Institutional investors are willing to pay ever high measuring rods for in-depth and microscopic research in accord ance with their requirements. Some of the modes of equity research areFundamental AnalysisTechnical AnalysisSecurities Market AnalysisIndex Momentum AnalysisSecurities Momentum AnalysisSecurities map AnalysisIndia n Financial MarketIndia Financial market is one of the oldest in the world and is considered to be the theaterest growing and best among all the markets of the emerging economies. The tarradiddle of Indian capital markets dates post 200 years toward the end of the eighteenth century when India was under the rule of the East India Company. The pecuniary market in India today is more(prenominal) developed than many other welkins because it was organize languish before with the securities exchanges of Mumbai, Ahmadabad and Kolkata were established as early as the 19th century. By the early 1960s the total number of securities exchanges in India rose to eight, including Mumbai, Ahmadabad and Kolkata away from Madras, Kanpur, Delhi, Bangalore and Pune. Today there ar e 21 regional securities exchanges in India in addition to the fundamentalized NSE (National Stock Exchange) and OTCEI (Over the Counter Exchange of India). The corporate welkin wasnt allowed into many constancy segments, which were dominated by the state cont sheded public sector resulting in stagnation of the economy right up to the early 1990s. thereafter when the Indian economy began liberalizing and the controls began to be dismantled or eased by, the securities markets witnessed a flurry of IPOs that were launched. This resulted in many new companies across different industry segments to come up with newer products and services.A remarkable feature of the growth of the Indian economy in novel years has been the role played by its securities markets in assisting and fuelling that growth with silver rose within the economy. This was in mark contrast to the initial phase of growth in many of the fast growing economies of East Asia that witnessed huge doses of FDI (Foreign Direct enthronisation) spurring growth in their initial years of market decontrol. During this phase in India much of the organized sector has been affected by high growth as the fiscal markets played an all-inclusive role in sustaining financial resource mobilization. more PSUs (Public Sector Undertakings) that decided to offload part of their equity were also helped by the well-organized securities market in India. The launch of the NSE (National Stock Exchange) and the OTCEI (Over the Counter Exchange of India) during the mid(prenominal) 1990s by the government of India was meant to usher in an easier and more fair form of trading in securities. The NSE was conceived as the market for trading in the securities of companies from the large-scale sector and the OTCEI for those from the small-scale sector. While the NSE has non just through with(p) well to grow and evolve into the virtual rear endbone of capital markets in India the OTCEI struggled and is yet to show any sign of growth and development. The integration of IT into the capital market infrastructure has been particularly smooth in India due to the countrys world class IT industry. This has pushed up the operational efficiency of the Indian stock market to global standards and as a result the country has been able to capitalize on its high growth and attract foreign capital like never before. Potential of India Financial MarketIndia Financial Market helps in promoting the savings of the economy helping to adopt an effective channel to steer sundry(a)(a) financial policies. The Indian financial sector is well-developed, competitive, efficient and compound to boldness all shocks. In the India financial market there are various types of financial products whose prices are determined by the numerous emptors and sellers in the market. The other determinant factor of the prices of the financial products is the market forces of demand and supply. The various other types of Indian markets hel p in the military operation of the wide India financial sector.Features OF FINANCIAL Market in IndiaIndia Financial Indices BSE 30 Index, various sector indexes, stock quotes, Sensex charts, bond prices, foreign exchange, Rupee Dollar ChartIndian Financial market newsStock News Bombay Stock Exchange, BSE Sensex 30 index, SP CNX-Nifty, company information, issues on market capitalization, corporate remuneration statementsFixed Income Corporate Bond Prices, Corporate Debt details, Debt trading activities, Interest Rates, funds Market, Government Securities, Public Sector Debt, External Debt ServiceForeign Investment Foreign Debt Database composed by BIS, IMF, OECD, World Bank, Investments in India AbroadGlobal Equity Indexes Dow Jones Global indexes, Morgan Stanley Equity Indexes gold Indexes FX Gold Chart Plotter, J. P. Morgan Currency IndexesNational and Global Market RelationsMutual FundsInsuranceLoansForex and BullionIndian vizors marketAS PER rbi DEFINITIONSA marke t for short terms financial assets that are final stage replacing for capital, facilitates the exchange of coin in primary and standby market.Indian money market was highly regulated and was characterized by hold number of participants. The limited variety and instruments were available. Interest rate on the instruments was under the order of diffidence Bank of India. The sincere efforts for developing the money market were made when the financial sector reforms were started by the government. cash markets are the markets for short, highly liquid debt securities. Examples of these admit believeers acceptances, repos, transferrable certifications of deposit, and Treasury Bills with maturity of one year or little and often 30 days or less(prenominal). currency market securities are generally very safe investments, which return relatively low touch rate that is roughly appropriate for temporary capital storage or short term time needs. The National Stock Exchange, whe re the stocks of the largest Indian. Corporations are traded, is a prime example of a capital primary market. Regarding timing, there is no hard and fast rule on this, but when describing debt markets, short term generally meat less than one year, intermediate term means one to five years, and desire term means more than five years.THE NATURE OF MONEY MARKETSIn this we define money markets broadly to complicate all financial instruments easily converted to means of payment that are used by governments, financial institutions and nonfinancial institutions for short-term funding or placements. By convention, we limit our scope to instruments of less than one year maturity.The most important function of a money market is to take into account a means whereby economic units can quickly adjust through cash military strengths. For all economic units (business, households financial institutions or governments) the timing of cash inflows is seldom perfectly synchronized or predictable i n the short run. In addition to facilitating the liquidity direction of economic actors, money markets fulfill a number of additional economic functionsInterest rank on money market instruments serve as reference rates for pricing all debt instrumentsGovernments or central cambers use money market instruments as tools at monetary policyShort-term interbank markets, finance longer-term change when financial intermediaries exchange maturities.Features of Money MarketIt is a market purely for short-terms funds or financial assets called near money.It deals with financial assets having a maturity period less than one year only.In Money Market transaction cannot address place formal like stock exchange, only through spontaneous communication, relevant document and written communication transaction can be done.Transaction has to be conducted without the help of brokers.It is not a single homogeneous market, it comprises of several submarket like call money market, acceptance pric k market.The chemical elements of Money Market are the commercial-grade banks, acceptance houses NBFC (Non-banking financial companies).It is not a single market but a collection of markets for several instruments.It is a need-based market wherein the demand supply of money shape the market.Money market is basically over-the-phone market.Dealing in money market may be conductive with or without the help of brokers.It is a market for short-term financial assets that are close substitutes for money.Financial assets which can be converted into money with ease, speed, without loss with minimum transaction cost are regarded as close substitutes for money.The major players of money marketReserve Bank of IndiaSBI DFHI Ltd (Amalgamation of Discount finance House in India and SBI in 2004)Acceptance Houses moneymaking(prenominal) Banks, Co-operative Banks and Primary Dealers are allowed to borrow and lend.Specified All-India Financial Institutions, Mutual Funds, and certain specified e ntities are allowed to access to Call/Notice money market only as lendersIndividuals, firms, companies, corporate bodies, trusts and institutions can purchase the exchequer bills, CPs and CDs.Money market instrumentsMoney market instruments take care of the borrowers short-term needs and seek the required liquidity to the lenders. The varied types of India money market instruments are exchequer bills, repurchase throwments, commercial written document, certificate of deposit, and bankers acceptance.Treasury Bills (T-Bills) Treasury bills were first issued by the Indian government in 1917. Treasury bills are short-term financial instruments that are issued by the Central Bank of the country. It is one of the safest money market instruments as it is void of market risks, though the return on investments is not that huge. Treasury bills are circulated by the primary as well as the secondary markets. The maturity periods for treasury bills are respectively 3-month, 6-month and 1-year . The price with which treasury bills are issued comes separate from that of the face value, and the face value is achieved upon maturity. On maturity, one gets the interest on the buy value as well. To be specific, the buy value is determined by a bidding process, that too in auctions.Repurchase Agreements Repurchase agreements are also called repos. Repos are short-term loans that buyers and sellers agree upon for selling and repurchasing. Repo transactions are allowed only among RBI-approved securities like state and central government securities, T-bills, PSU bonds, FI bonds and corporate bonds. Repurchase agreements, on the other hand, are interchange off by sellers, held back with a promise to purchase them back at a certain price and that too would happen on a specific date. The same is the procedure with that of the buyer, who purchases the securities and other instruments and promises to sell them back to the seller at the same time. commercialised Papers Commercial mus ical compositions are accustomedly known as promissory notes which are unsecured and are generally issued by companies and financial institutions, at a discounted rate from their face value. The fixed maturity for commercial covers is 1 to 270 days. The purposes with which they are issued are for financing of inventories, accounts receivables, and settling short-term liabilities or loans. The return on commercial melodic themes is always higher than that of T-bills. Companies which have a well-set credit rating, usually issue CPs as they are not backed by col later onal securities. Corporations issue CPs for raising working capital and they participate in active voice trade in the secondary market. It was in 1990 that Commercial papers were first issued in the Indian money market.Certificate of Deposit A certificate of deposit is a adoption note for the short-term just similar to that of a promissory note. The aircraft carrier of a certificate of deposit receives interest. The maturity date, fixed rate of interest and a fixed value are the three components of a certificate of deposit. The term is generally between 3 months to 5 years. The funds cannot be withdrawn instantaneously on demand, but has the facility of being liquidated, if a certain amount of penalty is paid. The risk associated with certificate of deposit is higher and so is the return (compared to T-bills). It was in 1989 that the certificate of deposit was first brought into the Indian money market.Bankers Acceptance A bankers acceptance is also a short-term investment plan that comes from a company or a firm backed by a guarantee from the bank. This guarantee states that the buyer will pay the seller at a prospective date. One who draws the bill should have a sound credit rating. 90 days is the usual term for these instruments. The term for these instruments can also vary between 30 and 180 days. It is used as time draft to finance imports, exports.It depends on the economic trends and market situation that RBI takes a step in advance to ease out the disparities in the market. Whenever there is a liquidity crunch, the RBI opts either to reduce the Cash Reserve Ratio (CRR) or absorb more money in the economic system. In a recent initiative, for overcoming the liquidity crunch in the Indian money market, the RBI infused more than Rs 75,000 crore along with reductions in the CRR.Call money marketThe call money market consists of overnight money and money at short bill poster for periods up to 14 days. It essentially serves the purpose of equilibrating the short-term liquidity position of banks. The call money market as a significant component of the money market possesses a few special characteristics-Call money is an instrument for ultra-short period management of funds and is easily reversible.It is primarily a telephone market and is therefore, administratively convenient to manage for both borrowers and lender. existence an instrument of liability manageme nt, it provides incremental funds and adds to the size of balance woodworking plane of banks.From the macro-side, developed call money market helps to smoo wherefore the fluctuations in the reserve-deposit rations of banks thereby contributing to the stability of the money-multiplier process. A stable money multiplier in turn serves as a reliable means of monetary regulation and policy guide. From the micro angle, short-run borrowing by banks improves the efficiency of funds management in two ways. One way, it enables banks to hold higher reserve-deposit ratio than would be possible otherwise. In another way, it allows some banks to permanently enlarge their pool of investible funds. Hence, active well-organized call money market improves the funds management practices of banks which in turn however their overall efficiency and profitability.The money market continued to remain orderly during Q2 of 2009-10. Reflecting the surplus liquidity conditions, the call rate hovered around the lower bound of the informal LAF corridor during the Q2 of 2009-10). The call rate averaged 3.25 per cent in Q2, which was marginally higher than 3.22 per cent in Q1.Interest rates in the collateralized segments of the money market the market repo and the collateralized borrowing and impart obligation locomote in tandem with the call rate during Q2 but remained below the call rate. The weighted average interest rate in the collateralized segment of the money market marginally increased to 2.7 per cent during Q2 of 2009-10 from 2.4 per cent during Q1. Transaction volumes in CBLO and market repo segments continued to remain high during Q2 of 2009-10 reflecting the easy liquidity and active market conditions. Banks as a group are the major borrowers in the collateralized segment whereas mutual funds (MFs) continue to remain the single largest lender of funds in that segment. In fact, more than 75 per cent of the bestow in the collateralized segment was contributed by the MFs in Q2, reflecting their continued enhanced lending capacity. The collateralized market remained the predominant segment of the money market, accounting for more than 80 per cent of the total volume in the money market in Q2.Source = http//www.rbi.org.in/scripts/BS_ViewBulletin.aspx?Id=10690t56Objective of call Money MarketTo provide a parking place to employ short term surplus funds.To provide room for overcoming short term deficits.To enable the central bank to fix and regulate liquidity in the economy through its intervention in this market.To provide a reasonable access to users of short-term funds to meet their requirement quickly, adequately at reasonable cost.Importance of call Money MarketDevelopment of trade industry.Development of capital market.Smooth functioning of commercial banks.Effective central bank control.Formulation of suitable monetary policy.Non inflationary source of finance to government.To provide help to the industry and trade.Some practical aspect of call m oney marketv effect of Participants in Call/Notice Money Market-(As on March 31, 2008)Category Bank PD FI MF Corporate TotalI. Borrower 154 15 169II. Lender 154 15 20 35 50 274v Market Shares of Constituents in Call/Notice Money Market(In Percent) Borrowings LendingsYear Banks PDs Banks PDs Others2007 68 32 52 11 372008 66 34 45 11 44v Shares of Select Participants in Call Money Market Lending(In Percent)Year Banks FIs Total2007 20 18 38(15)2008 17 14 31(13)Banks Canara Bank, Central Bank, PNB and SBIFIs ICICI, IDBI, LIC, SIDBI and UTI.Parenthetic figures relate to those of the SBI.v Shares of Select Banks in Call Money Market Borrowings(In Percent)Year Banks2007 362008 39Select banks include ABN-AMRO Bank, Centurion Bank, Citi Bank, Deutsche Bank Grind lays Bank, HDFC Bank, Hongkong Bank, IDBI Bank and banal Chartered Bank.Some guidelines regarding call money market by r.b.iIt may be recalled that in the annual policy description of April 2008, the intention to fail towards a pure inter-bank call/ scar money market by gradually phasing out non-bank participation was highlighted. Accordingly, in stage I, non-bank participants are allowed to lend, on average in a reporting fortnight, up to 85 per cent of their average daily lending during 2007-08.Subsequently, in the annual policy Statement of April 2008, it was stated that RBI would announce the date of effectiveness of stage II, wherein non-bank participants would be allowed to lend, on average in a reporting fortnight, up to 75 per cent of their average daily lending in call/ calling card market during 2007-08, depending on the date when NDS/CCIL becomes fully operational.In view of the boost developments in the functioning of NDS/CCIL, it is desirable to accelerate the progress of moving towards a pure inter-bank call/notice money market and facilitate further deepening of repo/term money market. Accordingly, it has been decided that effective from the fortnight showtime June 14, 2007, under stage II, non-bank participants would be allowed to lend, on average in a reporting fortnight, up to 75 per cent of their average daily lending in call/notice money market during 2007-08.However, in effect a particular non-bank institution has existent difficulty in deploying its oversupply liquidity, RBI may consider providing temporary permission to lend a higher amount in call/notice money market for a specific period on a case by case basis.To facilitate monitoring of your operations in call/notice money market on a daily basis, you are pass on to continue to submit the daily return in time to the principal sum Monetary Policy Adviser, MPD, RBI as per the extant practice.Current market rate = 2.10% 3.30%Commercial Bill marketBills of exchange are negotiable instruments, drawn by the seller (drawer) of the goods on the buyer (drawee) of the goods for the value of the goods delivered. These bills are known as trade bills. Trade bills are called commercial bills when they are accep ted by commercial banks. If the bill is payable at a future date and the seller needs money during the currency of the bill, he may approach his bank to discount the bill. The maturity proceeds or face value of a discounted bill from the drawee is received by the bank. If the bank needs funds during the currency of bill, it can rediscount the bill that has been already discounted by it in the commercial bill rediscount market at the available market discount rate. The RBI introduced the Bills Market scheme (BMS) in 1952 and the scheme was later modified into the New Bills Market Scheme (NBMS) in 1970. Under the scheme, commercial banks can rediscount the bills, which were originally discounted by them, with approved institutions.With the intention of reducing paper movements and in a bid to facilitate multiple rediscounting, the RBI introduced an instrument called Derivative Usance Promissory Notes (DUPN). Consequently, the need for the physical transfer of bills has been waived and the bank that originally discounts the bills only draws DUPN. These DUPNs are sold to investors in convenient practically of maturities (from 15 days up to 90 days) on the basis of genuine trade bills, discounted by the discounting bank.Commercial bill is a short term, negotiable, and self-liquidating instrument with low risk. It enhances he liability to make payment in a fixed date when goods are bought on credit. According to the Indian on the table Instruments Act, 1881, bill or exchange is a written instrument containing an compressed order, signed by the maker, directing to pay a certain amount of money only to a particular person, or to the bearer of the instrument. Bills of exchange are negotiable instruments drawn by the seller (drawer) on the buyer (drawee) or the value of the goods delivered to him. Such bills are called trade bills. When trade bills are accepted by commercial banks, they are called commercial bills. The bank discounts this bill by keeping a certain ma rgin and credits the proceeds. Banks, when in need of money, can also get much(prenominal) bills rediscounted by financial institutions such as LIC, UTI, GIC, ICICI and IRBI. The maturity period of the bills varies from 30 days, 60 days or 90 days, depending on the credit extended in the industry.Characteristics of Commercial billSecurities offered to the public must be registered with the Securities and Exchange Commission gibe to the Securities Act of 1933. Registration requires extensive public disclosure, including issuing a course catalogue on the offering. It is a time-consuming and expensive process. Most commercial paper is issued under Section 3(a) (3) of the 1933 Act which exempts from registration requirements short-term securities as long as they have certain characteristics.Commercial paper is typically a discount security (like Treasury bills) the investor purchases notes at less than face value and receives the face value at maturity. The difference between the pu rchase price and the face value, called the discount, is the interest received on the investment.Commercial paper is, occasionally, issued as an interest-bearing note (by request of investors). The investor pays the face value and, at maturity, receives the face value and accrued interest. All commercial paper interest rates are quoted on a discount basis.The granting immunity requirements have been a factor shaping the characteristics of the commercial paper market. The following are requirements for exemption The maturity of commercial paper must be less than 270 days. In practice, most commercial paper has a maturity of between 5 and 45 days, with 30-35 days being the average maturity.Many issuers continuously roll over their commercial paper, financing a more-or-less constant amount of their assets development commercial paper. The nine-month maturity limit is not violated by the continuous rollover of notes, as long as the rollover is not automatic but is at the discretion o f the issuer and the dealer. Many issuers will adjust the maturity of commercial paper to suit the requirements of an investor.That proceeds from commercial paper issues be used to finance current transactions, which include the funding of operating expenses and the funding of current assets such as receivables and inventories. Proceeds cannot be used to finance fixed assets, such as plant and equipment, on a permanent basis.A retention agent hired by the investor held the certificates, until presented for payment at maturity. The settling of the transaction, (the exchange of funds for commercial paper first at issuance and then at redemption, occur in one day. On the day the commercial paper is issued and sold, the investor receives and pays for the notes and the issuer receives the proceeds. On the day of maturity, the investor presents the notes and receives payment. Commercial banks, in their role as issuing, paying, and clearing agents, facilitate the settling of commercial pa per by carrying out the exchanges between issuer, investor, and dealer required to transfer commercial paper for funds.Types of Commercial BillsCommercial bill is an important tool finance credit sales. It may be a demand bill or a impost bill. A demand bill is payable on demand, that is immediately at sight or on presentation by the drawee. A function bill is payable after a specified time. If the seller wishes to bear sometime for payment, the bill would be payable at a future date. These bills can either be clean bil

Procurement Of Contruction Services Construction Essay

Procurement Of Contruction Services Construction Essay creationThe social establishment industry deals with great add of diverse trades and professions acting in harmony has historically al itinerarys endow with risk for insurers and customers. This involves professional risks of architects, consulting engineers and risks of pushors and sub coincideors that whitethorn lead to risk of professional indemnity, public and employers liability claims. The social carcass is engulfed a lot physical risks connected with braid sites and their hazards like structural collapse, fire, stealth and vandalism. However, to create a good environment for transp arncy and consistency in the worry of construction risks there is need for juristic brings that die the construction go. agree to (Odeh Battaineh 2002) the successful execution of construction acoustic projections and keeping them within estimated toll and prescribed schedules depend on a methodology that requires sound eng ine room judgement. The put ons of different form of chooses create helped in recovery of ante upment, facilities payment and solving of disputes in the construction industry. It has lead to efficient provision for payments to contractors and subcontractors.However, this course model discussed the four causas of contract that toilet be employ to the trapping association. overly, point out the benefits that whitethorn derive from the contracts and the some accommodateable one for house association. Further more(prenominal), explained with example on how New Engineering Contract (NEC3) might be qualified for acceptance by the admit association and showed the suitable form of contract the accommodate association can reduce their alimony construction contract be. Finally, this coursework tended suggestions on how the governance can reposition itself without be affected for future consultancy focus with regards to the lodging association contract and conclusion.A FOU R TYPES OF switch off AND THEIR well-being FOR HOUSING ASSOCIATION1 COST PLUS OR REIMBURSEMENT infratakeS2 ALL-IN OR TURNKEY CONTRACTS3 LUMP-SUM CONTRACTS4 ADMEASUREMENT CONTRACTSCOST PLUS OR REIMBURSEMENT CONTRACTIn this reference contract, the contract sum is determined onward construction work is started. nether this type of contract the contractor accepts a defined amount of work in return for agreed sum. Contracts with quantities argon priced on the basis of drawings and a firm bill of quantities .Contracts with quantities are priced on the basis of drawing and another(prenominal) document -usually a specification or work schedules. as well that, during the contract the amount added to cover overheads and profit can be a touch on sum, a percentage or may be on reimbursement basis. This type of contract specify the labour rank to be charged on project and insurance cost is another productive area for hidden add up to in the public figure of reimbursing costs. This ty pe of contract projected to avoid this automatic risk superior to the contractor (DJC, 2006).finally, according to (Haswell De silva ,1982) the contract came into existence during the first humanity war and deals with target time incentives for period on time that is accept for contracts subject to target costs. According to (OReilly 1999) comprise reimbursements enable to start work forwards the soma is finalised. It has maximum contracting flexibility and can disruptive track easier. This type contract there is less proprietor management needed and accept competitive addressding on congeries scope. price reimbursement contracts always compensate the consulting firm found on the actual number of hours worked and other direct costs involve and the contract always lease a cost ceiling.ALL-IN OR TURNKEY CONTRACTSAccording to (Haswell De silva ,1982) this is the type of contract where the client asks the contractor to tender all in bid or turn differentiate bid, that invol ves the provision of the job, both the design. This type of contract is love well and applied in legion(predicate) part of Europe, USA than in the UK and the consulting engineer plays little part in the civil engineering industry than in the UK.This type of contract the civil engineering is likely to have got a substantial profit in the project. jailor contract are familiar with to the highest degree of the customer and several analysts continue to suggest that profound number, if not the majority, of major constructions pull up stakes henceforth be executed on a lower floor this contractual framework .Besides that, the client can design and construct based on his / her choice without some(prenominal) external body, consulting engineer and contractor. According to (Dagenais, 2003) verbalise that the benefit is the client transacts with a single supplier for with regards to both design and execution of the project that simplifies its management It helps to accelerate the pr oject, since construction can fuck off even before the design process is distinguishd. Also in Turnkey contract the client can benefit from the skills of the constructor earlier in project. However, it mathematical to reduce eliminates the change orders during the project. However, fewer disputes are likely to encounter and, if they do will be easier to resolve..LUMP-SUM CONTRACTSThis is types of contract deals with the total costs to pose a project, together with the overhead, builder profit and any extras that the project owner specifies. After the project the builder is responsible for delivering the project under the guaranteed cost. According to (Haswell De silva ,1982) stated that alterations on lump- sum contract are costly and follows the same line with admeasurements contract. ostentatiousness sum contract is highly grateful to mortgage companies and this type of contract grant the builder experience to agnize time frame, cost to guarantee his client for the projec t. Lump sum is soused to fixed price than other system of computing the price and is comfortable for employers ask for price authoritativety (OReilly 1999). This type of contract there is a smaller amount risky for both the admit association and the Consultant. Lump -sum contract is most commonly used form of contract for architectural go. on that point is a clear understanding of the end product before construction begins in the project. The use of Lump sum contracts are in the main accepted in the building industry and are well desirable to small, medium or single trade projects. However, Lump sum contracts are not presently favoured for very big projects. In this type contract the design advice is independent of the builder .This is because of the extensive time required to complete documentation before any work can commence. For example numerous building project in Victoria Australian have been delivered through with(predicate) applying lump sum contract.ADMEASUREMENT CONTRACTSAccording to (Haswell De silva ,1982) this type of contract involves the cast statement of Quantities where detailed lists of all items of work required to be carried out with rocky quantities are prepared and the catalogue of Rates deals with comprehensive list of the various items of work to be carried out. A schedule of rates is frequently used where the degree of works has not been or cannot be completely determined. It deals with occurrenceuality sums and provisional sums for works not fully identified in the Bills. This type of contract the contractor is paid for the amount of actual work he does and a fair basis for payment because of freedom for the alteration of work. The register of Rates contract expressly rejects any revision of the rates quoted by the contractor except where the tender sum has been exceeded by a certain percentage. The important difference surrounded by these types of admeasured contract is that in the Bill of Quantities contract the tot al Contract Sum is the Tender Sum which is given in respect of a fixed measure of work as tick off out in the Bills of Quantities, whereas in the Schedule of Rates contract the total Contract Sum can be calculated only upon completion of the contract.FROM ABOVE, ADMEASUREMENTS CONTRACT IS THE MOST suitable TO THE HOUSING ASSOCIATIONAdmeasurements contract use of Bill of Quantities facilitates competitive tendering and evaluation of changes in the work condition. While Schedule of Rates will be useful with regards of maintenance of project to housing association. However, most contractors in the UK are well-known with this type of contract and indeed are in a position to price the work in a fair and rational manner to the housing association (Haswell De silva ,1982).furthermore, in admeasurements the unit rates tendered by contractor to individual items is fixed in the project and tender knows the conception of the work that has do with way of bills. This type of contract will prov ide the housing association signalise bills of preliminaries, day works and general items.B HOW NEC3 MIGHT BE SUITABLE TO THE HOUSING ASSOCIATION.The New Engineering Contract 3 known as (NEC3) is the most recent used contract for UK civil engineering projects and most part the world engineering projects.NEC3 is a family of contract that make possible the execution of sound project management principles and exercise significant legal kinships.NEC3 provides suitable environment for procurance of works ,supply and function. This is to escort efficiency and jimmy of construction projects is essential for civil engineers in the recent economic environment. This helps to go steady the projects are delivered on time and within budget. The NEC3 is recent day family of criterions contracts that accept the concept of partnership and promotes designers, both the project managers and contractors work mutually to ache up with up customers aims. According to Humphrey Lloyd the beaver ba rrister with regards to construction law experts in world recommend the NEC3 as the suitable law contracts for construction services in the world -wide use. Through his recommendation, NEC3 has rapidly used in more than 20 countries of the world based the application of NEC3 in British and confederation African government. According to Institution of accomplished Engineers (ICE) recommends NEC3 to public celestial sphere organisation with regards to construction services due to its use to encourage high-quality management system amid parties involves in contracts. Also it is an understandable, straightforward document and applied in a wide variety of commercial situations. It helps to satisfy and meet up with clients target aims for all projects with regards to cost, time factor, quality and performance. The NEC3 also is recommended by the self-assurance of Government commerce for construction services and both public sector and government make use of it. For example, the Londo n Olympics 2012, Channel Tunnel eminent Speed and Nuclear Decommissioning Authority sites used NEC3.The NEC3 is more suitable to the housing association due to the first and second editions have no alimentation to deal with force majeure situations known as unforeseen events causing problems to a project site that may lead to check up on of time or from being finished. For example, if a building catch shortly ahead of completion. The insurance may cover up the repair, but their no effect of delay to completion the new NEC3.Under clause 19 NEC3 the Engineering and construction contract grant project managers power to take care of unforeseen event that may stop employers main aim and the project contractor is permitted for payment for event and its consequences with regards to time and money. The NEC3 will enable the housing association to discover, allocate and handle risk. Under NEC3 plectrums C and D will enable the housing association know what to pay and when to pay it, for example during low inflation, they pay for goods based on the up to date market rates. Under pick A provides the project with maximum certainty of price for the employer .under option E enable the contractor to face risk on price. While option F deals with cost reimbursable contract in so far that the employer and not the contractor bears the risk on the costs of the works contract. The NEC3 will upset to give consistency in the application of its core clauses and its compensation events to the housing association. The options are there prevent disputes for the contract and it permits termination at will for all the main options. However, the NEC3 is flexible and it has six main options to choose from the options to suit the housing association.C HOW USING A SUITABLE FORM OF CONTRACT THE HOUSING ASSOCIATION CAN REDUCE THEIR MAINTENANCE CONSTRUCTION CONTRACT COSTSAccording to Sir Michael Latham defined PPC200 as the full Monty of partnering and modern best practice. This is type o f contract that deals with multi-party contract and founded by Association of Consultant Architects. This makes functional the foundation for the partnering procedure and can be used in any type partnered project of construction services through advice of legal procedure. The PPC200 choose radical ideas invented by the construction industry council partnering task force that guide Project Team Partnering. It is used by partnering police squads that elusive various project in public and private sectorsFrom my understanding, the use PPC2000 will be suitable for the housing association to reduce their maintenance construction contract costs due to high level of integration of entire project team under a single multi-party contract and covers the entire duration of the procurance process. For example, the Joint Initiatives and Strategic Alliances under Clause 23.1 set the general key performance indicator (KPI) regime as follows The Partnering team members shall use well-founded s kill and care, within the scope of their agreed roles, expertise and responsibilities and in consistency with the partnering Document, to achieve their respective target as set out in the KPIs. Under Clause 18.1 the risk management the Partnering Team members recognise the risks involved in the design, supply and construction of the project and the costs associated with those risks for efficient maintenance construction contract costs. Also Risk management is specifically communicate with the facility to allocate the share of risks appropriate to each team member. Besides that, the Clause 4.1 and 4.2 deals with good provision to maintenance costs. For example, Clause 4.2 states measurable persisting improvement by reference to the target and the KPIs.while Clause 4.1 states improved efficiency, cost- effectives, tap product and elimination of waste. There is tremendous mutual understanding between the Partner team member and the KPIs to reduce capital cost and hearty list costs reduce accident and reduce the design, supply and construction time under Clause 4.1.PPC200 involves specialists contractors with regards to supply arrange and construction processes. There is no provision for liquidated damages with the establishment of a core group. Also the core group helps to check the early warning system system for problems and reviews performance and progress to reduce maintenance construction contract costs. Under clause 6 of PPC200 provides the partnering timetables to direct all partnering team members to partnered performances, prices and supply chain and development of designs.D SUGGESTION ON HOW MY ORGANISATION COULD REPOSITION ITSELF WITH REGARDS TO futurity CONSULTANCY COMMISSION TO THE HOUSING ASSOCIATION. memory board of procurement dodge The procurement schema classifies the suitable way of achieving the aims of the project and value for money, through taking account of the risks involved and constraints, leading to decisions about the funding technique and asset self-control for the project. The objective of a procurement strategy is to accomplish the optimum end of risk, funding and control to the housing association.Reposition of procurement route The procurement route delivers the procurement strategy with regards to future to housing association. It comprises the contract strategy that will best meet the housing association needs. An incorporated procurement route ensures that design, operation, construction and maintenance are considered as a solid it also ensures that the delivery teamwork together as an incorporated project team.Reposition of contract Strategy the contract strategy decides the level of integration of design, construction and ongoing maintenance to the housing association, and should support the main project objectives in terms of risk allocation, delivery and other problems. There are many different contract strategies to meet up achieving Excellence principles of integration to the housing as sociation.CONCULSIONDespite, the application of NEC3 form of contract as most suitable, I solace believe other forms contract is suitable to procurement of construction services and the housing association. For example PPC2000 was used on over 9billion of UK construction services by 2004 and has been used in the Middle East on most of the construction services. According to RIDC survey found that JCT contracts are used in 85% of most construction project.JCT contracts maintain big share in the market despite the increasing use of the NEC3 form of contract in construction projects. Much new building work is done under the JCT 2005 contract which has substitute JCT 1998 contract and is well understood by subcontractor. However, conventional contract is essential with regards to understand the problems and complexities of construction contracts through evaluating the relationship between the employer and the engineer, is easily to understand the obstacles that other forms of procurem ent try to resolve. In traditional contract, the absence of a warranty there is no contractual relationship between the employer and subcontractor and suppliers of goods and services and the third parties do not have contractual rights. It encourages little cost and time guaranteed. Besides, converting the worlds infrastructure over the coming decades to flat the progress of a low -carbon -dioxide economy will involve clients and suppliers to have genuine confidence in long -term outcomes and returns. Through trustworthy exchangeable contracts that sustain project management costs down and project on track. Finally, it need global and updated information on contract status to ensure operated minimum delay and cost are properly controlledREFERENCE/BIBLIOGRAPHYBarse P.(2006) The JCT 05 standard building, sub-contract, UK. Blackwell LTDBrain E. (2009) The NCE3 Engineering and Construction Contract A Commentary.(UK ) 2nd ed .OxfordDagenais D. (2003) Construction law and Surety Bonds, Turnkey contracts- the clients perspectiveHaswell C. Silva D. (1982) Civil Engineering ContractsPractice and Procedure. England Butterworth co LtdOdeh M. Battaineh H. (2002) Causes of Construction Delay Traditional Contracts 67 -73OReilly M. (1999) Civil Engineering Construction Contracts, London 2nd ed , doubting Thomas Telford PublishingIssara N. Rycroff. M. (2000)The JCT 05 Standard building Contract. Law and Adminisraction.2nd ed. Elsesiet LTD.The Daily Journal of Commerce, (2005) Cost Plus contract true costs no obvious,Portland.oregon.http//www.neccontract.com/ last accessed on tenth Nov 2010http//www.gmhplanning.co.uk/NEC_newsletter_45.pdf last accessed 12th Nov 2010http//www.ice.org.uk/Publications/NEC last accessed 13th Nov 2010http//www.hammonds.com/FileServer.aspx?oID=22997 last accessed 13th Nov 2010http//www.neccontract.com/PDF_DOC/NEC%20news-46.pdf last accessed 13th Nov 2010http//www.ppc2000.co.uk/documents/IntroductionPPC2000-08_000.pdf last accessed fifteenth Nov 2010http//www.minalcon.com/contracts.html last accessed 22th NOV 2010

Cross Cultural Issues in Performance Management

Cross heathenish Issues in Performance centeringWhen planning to expand into the world(a) marketplace, the expanding business should set forth a well-planned business process that considers the inherent ethnic differences that considers the inherent ethnic differences that whitethorn exist from country to country. Cultural differences hind makes almost al representations be identified as one of the primary reasons for the gaps in global meshing development. Cultural factors were considered the predictors of the level of acceptance of network in a society. Cultural factors also determine the section of a society most in all likelihood to engage the Internet, the purpose of the use of the Internet, the pose visited, purpose of use of the Internet, the site visited, purchase decisions, etc. Hence it is important to consider the cross cultural issues and differences when developing any type of global business strategyThe problems that rise in joint ventures work raze more s alient in the new forms of multicultural organizations that gravel been called collaborations. When the group working in concert contains members from threesome or more cultures and may be operating in and a fourth incompatible culture, or may non be co-located at all, what kinds of cultural issues are likely to come ?Mis determineing the rules and norms ring the issue of authority is probably the most common problem in newly formed multicultural groups. The high degree of formality that is associated with dainty can be understood as a defense against reservation mistakes in this cultural arena. But formality itself can lead to problems if thither nonsufficient recognizeingIn the work situation, if the leader is from a culture in which it is expected that subordinates go forth speak up if they experience a pertinent piece of information, but he or she is dealing with group members whose norms enjoin that one does not speak up until the boss specially asks, and even then one suppress information that would embarrass the boss, one can foresee that this group get out have difficulty being effective. Misunderstandings or so authority then have a direct impact on the quality of communication that is possibleAnother example of going global is seen in personalized service firms such as law and be .These professions are focusing on cross-border activities like recruiting the local multitude who have their own culture, language, legal systems and accounting systems. The need for international expertise and not bad(p) is one reason for this trend. Companies of professionals are forming alliances with their foreign counterparts such as the adhesiveness of European Lawyers.In only 10% of 191 nations are the people ethnically or racially homogenous. Never before in history have so many inhabitants traveled beyond their homelands, either to travel or work abroad, or to flee as refugees. In host countries, the companionable fabric is being reconfigured an d strained by massive waves of immigrants, whether legal or illegal. It is estimated that Chinese now constitute 3% of New York Citys population, with a quarter million of them concentrated in Manhattan Islands Chinatown, which overflows into older ethnic neighborhoods. This is the largest Chinese expatriate group outside Southeast Asia. The Industrial Age has given way to the Information Age, and we can only speculate on its replacement in the next one hundred years.Thus todays leaders are necessary to develop new models of worry systems. They need to be more ripe and recognize the role of each and every employee in the organization in order to achieve the overall organizational goals. These dramatic changes in the piece of work are producing some interesting challenges for everyone, from entry-level employees to top management.The management of the organizations should be coiffure to face these conflicts and challenges that may happen when the people from diverse cultures wor k together as a team to achieve organizational goals. But management can also enjoy the different opportunities like productivity, expansion, and new levels of egress due to the cross-cultural environment. Our research is about successfully handling these conflicts and takes utility of these opportunitiesGlobally, cross-cultural research has become increasingly essential. We can see people from diverse cultures in European countries. In this modern age , thither is a need for cultural awareness and to understand people beliefs and practices. This, I argue, can be obtained by research, particularly the soft approach. I cipher cross-cultural research is very important that can help organizations to understand and create awareness about issues that may arise when people from different cultures work together as a unit1.2 Research QuestionsWhat Is the agency of Culture?What Are Cultural Differences?Do Cultural Differences Really nurture an Impact on Workplace?What are cross-cultura l issues and how can we disband them to improve organizational performance?What Are the Signs and effects of Cross-Cultural worry Issues in organizations and how can we resolve them?What Are the Signs and effects of Cross-Cultural Teamwork Issues in organizations and how can we resolve them?What Are the Signs and effects of Cross-Cultural Communication Issues in organizations and how can we resolve them?What Are the Signs and effects of Cross-Cultural Career charge Issues in organizations and how can we resolve them?1.3 Research ObjectivesThe purpose of our research is to understand the cross-cultural differences that exist in organizations and their impact on the performance of the organizations. We bequeath also pinpoint how the rewards, leadership and communications get different perspectives in cross-cultural environment. We will also study the importance of tuition programs and their orientation in cross-cultural environment. The focus of our study will be onCultural diffe rences and similaritiesBehaviour in global perspectiveCultural shockManagerial responsesDecision making across culturesMotivation across cultures honor across culturesLeadership across culturesPower and conflict across cultures communication theory across culturesEnvironments across culturesOrganization structure and technology across culturesCross-culture training1.4 Key Literature viewInitial Knowledge Management (KM) strategies relied heavy on ICT-based solutions to store and retrieve explicit organizational knowledge. heretofore, these ICT-based strategies often failed to yield meaningful results (Ambrosio 2000). To date, much of the KM literature has foc utilise on incorporated and organizational culture, with relatively little attention paid to the implications of national culture. However KM, which is context embedded, is a particularly culturally dependent process (Glisby and Holden 2003 Nonaka and Toyama 2003). efficacious KM practices developed by and for one culture may not necessarily be successfully used by other cultures (Pauleen and white potato vine 2005). This is an important point as cross-cultural knowledge sharing has become more prevalent through the forces of globalization, advances in communications technology, and increasingly culturally diverse workforces (Cox 1991 Nemetz and Christensen 1996), as well as through international mergers and acquisitions, Internet based e-commerce, and an increasing trend to global outsourcing. Meanwhile, dominant Western cultural assumptions about knowledge and KM influence KM research and development. stipulation these factors, an understanding of the influence of national culture is now, arguably, a critical compulsion in understanding and implementing successful KM in organizations.1.5 MethodologyWe will focuses primarily on secondary cross-cultural comparisons (using other peoples data). Some metre techniques lend themselves more readily to comparison than others. We will also use participan t observations and un-structured interviewing that are usually a necessary first flavor in any field study. It goes without saying that any measure used across sites needs to be applicable to all the sites. Most proportional field studies deal with general domains of life that are found in all societies-for example, words and classification of colors, kin, animals, and plants, ideas about illness, raising children, and social behaviors. We will Compare Primary Data from Field Studies for Behavior Observations1.6 Research respectable issuesDistinct and conceivably unanticipated ethical issues emanate from the unpredictable constitution of qualitative research. estimable considerations relevant to quantitative research impact qualitative investigations in unique and more fragile ways. The ethical dilemmas Inherent in issues surrounding informed consent, anonymity and confidentiality, data generation, treatment, publications, and participant- research worker relationships are revi ewed in deject of the unique issues that emerge in the design and conduct of qualitative investigations. Ethical standards for qualitative investigations must(prenominal) evolve from sense that the research is dynamic and that the process, by its application may result in unanticipated ethical concerns. The researcher must remain open to the possibility of new, and, to date, unexamined ethical concerns related to qualitative research. Further, the evolving standards must be grounded in the ethical principles of autonomy, philanthropy, and justiceResearcher must observe certain basic principles when conducting any form of research that involves gentleman subjects. First, participants must not be harmed, thereby supporting the principle of beneficence. In any qualitative investigations, if researchers sense that the interview is causing issues to surface that may result in emotional trauma to participants, they must protect the upbeat of the participants that confidentiality and anonymity will be upheld and that participants will be treated with self-worth and respect. The principles of beneficence and justice are upheld in this regard. The three ethical principles of autonomy, beneficence and justice provide the organizing framework for meaningful dialogue regarding ethical issues that stir to qualitative investigations

Developing Emergency Action Plan for Gym

Developing fatality effect Plan for GymUnderstanding jot procedures in fitness surroundAn arrest reaction outline is crucial for ensuring a safe surroundings for instalments, users, and staff, as hygienic as being a very well(p) pr mapice for managing fortune. With health and fitness facilities, an fatality response musical arrangement moldiness(prenominal)iness be established to offer the highest reasonable safety level for users and staff.Emergency secondary school procedures be the established plans that be instigated if an catch occurs. It whitethorn be simply a power outage, or more seriously a checkup emergency, a fire or even a prevail-related scenario. Gyms must pull in an emergency action plan (EAP) in put down so that wholly the occupants at the time bequeath be able to act effectively if required.What Would You Do?If a middle school clients is seriously injured, or worse, dies in front of you while they have been exercising. What would you do? The question ordinarily comes as a complete surprise to existing and new instructors. Unfortunately, the nonion of kinsfolk dying or being injured while in an solve environment is rargonly addressed by the middle school precaution, or by lockees. Therefore, when it does happens, which it ordain one day, the middle school is in chaos as essentially nobody knows what procedures to follow.Gym Emergency Typical ScenarioThis is what ordinarily happens when procedures argon obscure.The secondary school staff argon non clear about what to do, panic whitethorn ensue.The front desk operator telephones 911 (or the police).The lyceumnasium worry may performs CPR/AED.Members are afraid to alleviate or do not wish to be involved.While this scenario is generally what happens, it is that the instructor/trainers not knowing that is particularly move when seconds and minutes are crucial and base save a tone.The logical thinking here is that on the whole the gym staff do not know a gym s emergency procedures, regarding say, a nub attack. Even if they do know the procedure, how many an different(prenominal) instructors are CRP/AED certified?why Many Gym Managements Dont Know EAP?It is assumed that instructors who are CPR/AED certified already know what to do.They do not desire to s mete out away new instructors.The gym has no procedures in place for emergencies ( other than call 911).It has not occurred to the manager/owner that clients may experience spunk attacks there.Chain of CommandEvery gym should have a grasp of righteousness which is deployed during an emergency. Emergencies can happen at any moment. There bequeath be occasions when the person in overall charge go away not be in the premises. That is why a drawstring of responsibility is essential, as the next person becomes in charge of the emergency.Activation of EAPThe singular in charge at the time should make the call to initiate an EAP. If a checkup examination exam emergency has occurre d, then those who are trained in CPR and emergency aid must remain with the patient. The person in charge at the time will coordinate the staff and gym military force as to what they must do while the plan is in activation.Location of EquipmentAll gyms should have emergency equipment to hand. This must include a first aid kit, a telephone, fire extinguisher/s and sometimes an automated extraneous defibrillator (AED). Every person that works in the gym must know where this equipment is available.Posting of Emergency ProcedureGyms should have an EAP visor in a visible position in order that all the information is easily available in case of an emergency. This should list the chain of command, the fixture of emergency equipment, and other pertinent information. People do not really think clearly in an emergency, and having an EAP poster with all relevant information can save a lives when time matters most.Managing the RisksThe management of take a chance refers to those practices and dusts that gyms should establish to limit their exposure to any potential liability or financial loss. In the health confederation and fitness industry, risk management refers to the practices, systems and procedures by which a gym can reduce the risk of an employee or a client coming to harm (injury or death). Risk management involves practices that are pr egressive (such as pre-activity screening and correctly maintaining equipment) to practices that can be con rampred a reaction to unexpected events (such as emergency response systems).It must be acknowledged that the various types of health and fitness facilities do markedly vary, from the unsupervised to medically supervised clinical exercise centers.Gyms and exercise facilities a lot serve varied aims and clients, they do or dont have organized programs, and also may or may not employ staff that are qualified.Management should use the local medical personnel or healthcare professionals to help develop an emergency respo nse program. topical anesthetic emergency medical go (EMS) can help a set to develop a response program.Gyms and facilities can also engage the services of a physician, a registered nurse, or a certified emergency medical technician to assist in the development of their response program.An emergency response system should consider any emergency situations that may occur.Among these are medical emergencies that can be foreseen in regard to moderate or more brutal workouts, such as hypoglycemia, a heart attack, a stroke, cardiac drive off or heat illness, and injuries that are in nature orthopedic.The response system should also consider other potential emergencies not specifically caused by physical activity, such a chemical accident, fire, and a range of weather and natural disaster events.An emergency response plan should consider diaphanous steps and instructions on how the emergency situation must be dealt with and including the roles that 1st , 2nd , and 3rd responders to a n emergency will play.Additionally, an emergency response plan must indicate clearly the locations of emergency equipment (e.g., telephone for 911 and bear on info for EMS, locations of the emergency exits, and the access points for EMS personnel), and also the steps needed to cutaneous senses local EMS.It is preferable to physically rehearse the emergency response system at least twice per year.Medical Emergencies at the Gym work brings so many health benefits, and moreover is beneficial to population with many medical conditions that include heart malady and Myocardial infarction (heart attack).The risk of a sudden medical emergency is ever present, and medical emergencies may occur before, during and after exercise. For vulnerable people, exercise may precipitate an emergency at the gym which can emanate from many different medical conditions like diabetes or high blood impel, heart disease, and also a poor physical condition, or obesity and so on. For example, if an individ ual experiences mash of the chest during or after an exercise session, they must call an ambulance to climb to the hospital irrespective of whether the person is on medication for blood pressure or has had three prior heart attacks, if they are 22 old age of age, or seemingly fit and healthy.What to do in an Emergency permit us assume that you are an instructor in a gym which has no clearly visible emergency procedure, or none that you are of. Perhaps one day you will hear a PA system announcement asking Is there a doctor or nurse in the building? that is usually a sign that something preferably bad has happened. You might or might not hear those actors line over the PA. All clubs are different.If you feel that an emergency is occurring, whatever you may be doing, should be dropped and then head to the emergency location to prise the situation. Do not assume that someone else will do it. If you are instructing at the time, make excuses and go yourself.After arriving, these bas ic steps should be followed.If a person collapses, then immediately inform emergency medical services and also care for the person according to the guidelines of the American sprightliness Association CPR or similar authority.If there is an automated external defibrillator (AED) available, then utilise it.Every instructor or trainer and gym management personnel are encouraged to at attend a basic CPR course.CPR techniques are easy to learn and they gestate a very low risk of transmission of any disease to a provider if hands-only CPR is used or one of other modern protocols that de-emphasize giving rescue breaths mouth-to-mouth.The training will help to prepare one to deal with a clear medical emergency such as collapse and in particular, the loss of pulse.Many medical emergencies begin with much less clear signs or symptoms.Chest pain in the neck is perhaps the most prevalent symptom of a cardiac emergency, although people often describe what they are feeling as tightness or pre ssure. Discomfort or sensations in the jaw or neck, the arms, the upper belly or back, may also be linked to a cardiac event.Even without any chest discomfort, a shortness of breath, may well be a heart attack symptom or other medical emergency. This is a common feeling at a gym even for healthy individuals during or immediately following exercise. The thing to take care for is whether the shortness of breath seems dis-proportionate to the situation or if it is lasting longer than normal.Unfortunately, several(prenominal) other possible causes may be associated with a cardiac event such as, lightheadedness, nausea and sweating amongst them. Again, the rule of thumb is to look for what may seem out of the ordinary under the circumstances.Strokes are also a medical emergency which requires immediate response. While strokes are less usually thought of as being associated with exercising, the symptoms and signs of a stroke includea sudden headache,difficulty with finding wordslanguage comprehension perplexityspeech is slurredun coordinated movement and numbnessa prickle or a weakness particularly on one side of the body or face.What actually constitutes a real medical emergency is often a challenging judgment call, and if one is in motion then its better to send the person immediately to an emergency department and let the professionals assess. Occasionally, people might prefer to visit an urgent care or their doctors office, but those facilities will usually not have the inevitable resources to assess or manage a real emergency and so should be consulted for routine health care and what are clearly minor issues.Some may wish to stave off the expense or drama of calling an ambulance. Bear in theme that if a person is really having a heart attack or a stroke, the minutes count, and the time elapsing from the start of the event to treatment will determine the extent of damage to heart muscle or to the mavin elapsing time can dramatically alter outcomes.If CPR is Necessary exert calmPerform CPR /use the AED (if you are CPR/AED certified) brook a staff member call 911 and also encounter the gym manager/owner, regarding the incidentPerform CPR ( or AED) until the paramedics arrive apprize a staff member to get the members club file to give to the paramedics on their arrival (this file should contain contact info, the medications of the person and such like, important info for paramedics).Assign a member of staff to wait outside the premises, to escort the paramedics inside and to the emergency location on their arrival. File an incident reportCommon Gym relate EmergenciesOccasionally an athlete may experience a potentially life changing injury, such as to the head or a serious neck injury, eye injuries, or similar. However the majority of sports-related injuries will be bone and soft tissue injuries like strains, sprains, dislocations and knee injuries. Most of these injuries will absolutely require treatment, but it may not be neces sary to call for an emergency response.On the whole, apart from the very serious health emergencies which may never even happen in your presence, most injuries that are gym and exercise related are avoidable. Remember the golden rules to follow, and hopefully almost all injuries will not occur on your watch.affectionate upStretching (both pre- and post-exercise )HydrationNutritionRestBear in judgement that a body operates like a machine, yet it requires diligent criminal maintenance such as correct nutrition, stretching and rest. Too much of a good thing, or overworking the body is always inadvisable and on a regular basis leads to negative results. Remember to know your own limits and also those of the clients, meaning get wind to your body and hopefully the incidence of injury will be greatly diminished.

Enablers and Barriers to Nuclear Medicine

Enablers and Barriers to Nuclear MedicineIntroductionNuclear music has emerged because of advances in the survey of atomic technology. This is a branch of aesculapian studies that uses a small amount of radioactive substances, for purposes of diagnosing and determining the nature of malady that an private is suffering from. This type of medical form is normally utilise for purposes of treating inveterate diseases such(prenominal) as heart diseases, cancer, neurological and endocrine disorders, and new(prenominal) abnormal conditions within the body of an individual (Moniuszko Patel, 2011). This bowl of thermo atomic medicate is use by a variety of medical experts, and this includes, oncologists, radiologists, gynecologists, radi differentapists, endocrinologists, etc. in that location argon three major types of state who argon working and chthonic the depicted object of nuclear music, and they include, the nuclear physician, the nuclear medical specialty technol ogist, and the nuclear pharmacist. The nuclear physicians ar responsible in diagnosing and treating a patient. Furthermore, they have the province of carrying extinct research in this line of merchandise of nuclear technology.The technician on the another(prenominal) hand, works with a patient, and he or she is a specialized individual who assists the physician in diagnosing and treating a patient. The pharmacist on the other hand, involves himself in the procurement, control, and distribution of radio-pharmaceutical products (Laake, Benestad Olsen, 2007). This is an singularity that this field on nuclear euphony is an independent specialty, and well organized, and thus it can cater for the needs of its patients. This topic is a proposal on the investigator to be carried protrude on the enablers and parapets to the recitation of nuclear medicament. This paper takes a stand that in as much as thither are some factors responsible for promoting the physical exertion of nuclear euphony, in that location are withal some barriers. look hassleOne of the major challenges facing nuclear medicine is based on the dangers of radiation. Radiation is a very serious issue, and can have a very negative impact on the health of an individual. This includes the development of chronic diseases such as cancer, which are always difficult to treat. Furthermore, it is highschoolly high-priced to train nuclear medicine experts, and this is the reason there is a shortage of nuclear medicine practitioners in the world (Moniuszko Patel, 2011). There is also a dilemma on where to place this field of nuclear medicine. This is because there is discombobulation on whether to categorize nuclear medicine under the field of medicine, or to give it an independent specialty. Failure to underwrite these concerns and issues that are brought forth in regard to nuclear technology can have an impact in limiting the emersion and growth of nuclear technology in the world. I t is and then demand for policy formulators to come up with systems and measures that can be used for purposes of encouraging the growth and use of nuclear technology (Prekeges, 2013). One system is to encourage extensive research in this field of nuclear medicine. Furthermore, there is a need of issuing scholarships to needy but bright students, so that they whitethorn pursue a study in the field of nuclear technology. Failure to achieve these objectives would result to limiting the growth and development of the field of nuclear medicine. This would in turn derive up the deaths of slew, because of an increase in the subprogram of people suffering from chronic diseases or illnesses. It is therefore necessary to address the barriers to the practice of nuclear medicine, and create more enables to the practice.Aims of the ResearchThis research aims at achieving the following three aims,Analyzing the enablers to the practice of nuclear medicine.Analyzing the barriers to the prac tice of nuclear medicine. feeler up with a solution on how to practice nuclear medicine.Objectives of the Research To analyze the various literatures concerning nuclear medicine.To fancy the various barriers to nuclear medicine.To understand the various enablers to nuclear medicine.Having an understanding of this concept of a nuclear medicine practitioner, from a primary source.Literature ReviewNuclear medicine is an master(prenominal) field of study, and this is basically because it alleviates in the treatment of chronic diseases. These diseases include diseases such as cancer, and other abnormal conditions (Feld Roo, 2003). Therefore, the practice of nuclear medicine is divide in nature, and this includes professionals such as radiologists, cardiologists, neurologists, nephrologists, etc. Cardiology is also the largest profession in the field of nuclear technology, and this is as per the year 2013. Furthermore, nephrology is also a field nuclear medicine, and it is the larges t growing field in this practice (Powsner, Palmer Powsner, 2013). The reason for the emergence cardiology as the largest field of nuclear medicine is based on the facts that there is an increase in aging population, cardiac ailments, and a preference for diagnostic procedures that are non-invasive. Cardiologists play a graphic symbol in the treatment and diagnoses of these ailments (Donohoe vanguard Den Abbeele, 2011). However, there are a descend of barriers that plays a fiber in affecting the efficient practice of cardiology. One major barrier to an efficient practice of this field of medicine is based on the fact that it is very expensive to train professionals in this field.Cardiologists are highly proficient and experienced medical practitioners, and these skills are gained over a long finale of time. This time factor and the amount of money spent in the training of a cardiologist, limits the number of people who can train and work as a cardiologist. Furthermore, ther e are numerous risks involved, for people practicing this type of medicine, and this includes the high rates of deaths for people suffering from the disease (Donohoe Van Den Abbeele, 2000). For instance, people suffering from heart failures have a high chance of dying, and this makes the efforts of an oncologist to be futile. However, scholar disagrees with this fact. This is mainly because of the view that oncologists play a significant role in protecting and preserving the lives of other people, or patients. Furthermore, scholar explains that the high cost depicted in training cardiologists, is based on the high cost of equipments used, and it is beyond the control of medical practitioners (Elgazzar, 2011).Through these assertions, Biersack Freeman (2007) explains that the best order of solving issues regarding to the training of oncologists, is based on the intervention by the government. This involves big(a) taxes on products and tools that can be used for purposes of cardio logy. Another barrier to the practice of cardiology is based on the main courseibility of the doctors responsible for practicing cardiology (Elgazzar, 2011). It is very expensive to access these doctors, majorly because of the high consultation fees that they charge. Furthermore chances are high that an individual may suffer from depression, majorly because of the high volume of work they are under fetching, and the minimal chances of extract that a patient has (Mettler Guiberteau, 2012). This depression is bad, majorly because it may lead to the development of chronic diseases such as heart attacks, and even the thought of committing suicide.In field such as oncology, nephrology, and radiology, is also faced with a variety of challenges. These challenges emanates from an increase in the complex medical cases that emerge. However, the British government has realized on the challenges that exist, in regard to the practice of cardiovascular medicine (Cherry, Sorenson Phelps, 2012). Therefore, the government has resorted to resorted to the mental synthesis of more institutions responsible for training experts in nuclear medicine, and this includes, fields such as radiology, oncology, cardiology, etc. In the year 2005, in a ask over of the British government to enhance the practice of nuclear medicine, the government organize an organization referred to as the modernization of medical careers. This movement specifically invested the field of nuclear medicine, and it sought to enact tilts to this field, so that it would be easy for people wishing to pursue a career in it, to pursue it.This is an indication that the British government supports the development of the practice of nuclear medicine. Take for drill in the year 2007. To the year 2010, the British government was able to change the curriculum used in teaching nuclear medicine, and reduced the number of age, from four to three years. This applied to cardiovascular medicine. The effect of this, is t hat it was able to make it possible for people studying cardiology to graduate after three years of intensive training, and hence filling in the gaps, that existed in the shortage of experts in the field of nuclear medicine (Dawson, 2002). Kuwait is also another kingdom that is encouraging the development and practice of nuclear medicine. For instance, the government of Kuwait has set up a cancer control unit that is responsible for employ nuclear technology for purposes of treating its patients. This is an indication that the government of Kuwait values this field of nuclear medicine, and it has developed measures at promoting its practice. This is specifically, in the treatment of cancer (Ziessman, Omalley, Thrall Fahey, 2014). methodologyThis paper will use both primary and inessential methods of info haveion. Under the primary method of data collection, this paper would use both surveys, and structured interviews. For instance in the process of data collection, the resear cher would try bring out to interview various professionals in the United farming and Kuwait, for purposes of decision out the level of satisfaction that they are deriving, through their practice of nuclear medicine. patriarchal Methods of ResearchInterviewsThe following are the questions that the researcher would use, for purposes of carrying out an interview,Interview Questions What are the challenges you are facing, in your pursuit of the field of nuclear medicine?What conditions are making possible for you to practice the field of nuclear medicine? wherefore did you choose to practice this field of nuclear medicine?What policies do you inspire for purposes of improving the manner which nuclear medicine is practiced, this is with reference to United Kingdom and Kuwait?Who are the major stakeholders in this field of nuclear medicine?What are the qualifications for an individual to pursue a career in nuclear medicine?A detailed and careful answer to the mentioned questions would help in providing information that would meet the aims of this research. There are a number of returns of using a structured interview for purposes of collecting information/data. One improvement is that the researcher will maintain a face to face conversation, and hence it would be easy to read the body language of the interviewee (Abramson Abramson, 2013). This is for purposes of getting whatever unwritten and unintended information that the interviewee did not want to convey. Another advantage of using an interview is based on the fact that it is possible to collect the right information and store it, without any distortion. This is by using a digital tape recorder, or a mobile phone. This data would afterward be used in the process of analyzing the results of the interview.Despite the advantages of using a structured interview, it has various impairments. One such disadvantage is the difficulty of finding the interviewee (Jacobsen, 2013). These people are very busy people hence there is a need of making an appointment, for purposes of getting an interview with them. Furthermore, the appointments may be declined, and restructured, and this may have an effect of tampering with the timetable of the researcher. Another disadvantage is that carrying out an interview is an expensive process, mainly because the interviewee may demand some allowances for taking their time.SurveysThe use of surveys would also be a very useful method of carrying out this research. However, the researcher would use the online surveys for purposes of collecting data for this research. Online surveys are a useful method for data collection, basically because they have the capability of orbit a large number of people (Jacobsen, 2012). The target group for these surveys would be doctors and other people in the field of nuclear medicine. The major disadvantage of the use of online surveys is based on the fact that chances are high that the target population may ignore them, hence failing to get the necessary information needed. To mitigate on this problem, the researcher would design only fin questions that would be easy to answer. The following are the five questions contained in the online surveys,What are the barriers of practicing nuclear medicine?What are the enablers of practicing nuclear medicine?Who are the stakeholders in the field of nuclear medicine?How can we overcome the barriers of practicing nuclear medicine?Kindly provide at least two recommendations that can be used to encourage the practice of nuclear medicine.Secondary Methods of ResearchThe secondary methods of research in use would basically be library research. The researcher would rely on books, journals, and articles for purposes of collecting information on the enables and barriers in the practice of nuclear medicine (Mettler Guiberteau, 2012). Under books, the researcher would analyze various literatures on the practice of nuclear medicine. The focus of the researcher would be, on cardiovascular, radiology, and oncology medicine (Shi, 2008). This is because these sections of medical practice constantly use the nuclear techno logy for purposes of treating their patients. The researcher would also use journals, which are very important tools of data collection. This is basically because they are peer reviewed, and hence the information contained in them is reliable and accurate.Time mouldConclusionIn conclusion, this research method aims at finding out the barriers and enables in the practice of nuclear medicine. It is important to explain that there are a number of careers in this branch of medicine, and these include, cardiology, radiology, oncology, etc. Nuclear medicine involves the use of radioactive elements for purposes of treating an individual, and hence it is an important method of treating chronic diseases. By understanding the various barriers that are affecting an efficient practice of this field of nuclear medicine, then chances are high that pr oper policies would be enacted, that would help in promoting its practice.References pop off of orchestrateABRAMSON, J., ABRAMSON, Z. H. (2013). Research methods in community medicinesurveys, epidemiological research, programme evaluation, clinical trials. Hoboken, N.J.,Wiley. butt of air nobble of stampBIERSACK, H. J., FREEMAN, L. M. (2007). Clinical nuclear medicine. Berlin, Springer. rotter of pull in roundabout of clearCHERRY, S. R., SORENSON, J. A., PHELPS, M. E. (2012). natural philosophy in nuclear medicine.Philadelphia, Elsevier/Saunders.Top of miscellaneaDAWSON, C. (2002). Practical research methods a user-friendly surpass to mastering researchtechniques and projects. Oxford, How To Books. groundwork of turnTop of FormDONOHOE, K. J., VAN DEN ABBEELE, A. (2011). Case-based nuclear medicine. NewYork, Thieme.Top of FormDONOHOE, K. J., VAN DEN ABBEELE, A. (2000). Teaching atlas of nuclear medicine.New York, Thieme.Bottom of FormBottom of FormTop of FormELGAZZAR, A . H. (2011). A concise guide to nuclear medicine. Berlin, Springer.Top of FormFELD, M., ROO, M. D. (2003). History of nuclear medicine in Europe. Stuttgart, Schattauer.Top of FormJACOBSEN, K. H. (2012). Introduction to health research methods a practical(a) guide. Sudbury,Mass, Jones Bartlett Learning.Bottom of FormBottom of FormBottom of FormBottom of FormTop of FormMETTLER, F. A., GUIBERTEAU, M. J. (2012). Essentials of nuclear medicine imaging.Philadelphia, PA, Elsevier/Saunders.Top of FormMONIUSZKO, A., PATEL, D. (2011). Nuclear medicine technology study guide atechnologists review for passing board exams. New York, Springer. sBottom of FormTop of Form(2004). Orthopedic Nuclear Medicine. Berlin, Heidelberg, Springer Berlin Heidelberg.Top of FormPOWSNER, R. A., PALMER, M. R., POWSNER, E. R. (2013). Essentials of NuclearMedicine Physics and Instrumentation. New York, NY, John Wiley Sons.Bottom of FormBottom of FormTop of FormPREKEGES, J. (2013). Nuclear medicine instrumenta tion. Burlington, Mass, Jones BartlettLearning.Top of FormLAAKE, P., BENESTAD, H. B., OLSEN, B. R. (2007). Research methodology in the medicaland biological sciences. Amsterdam, Academic. Bottom of FormTop of FormSHI, L. (2008). Health services research methods. Clifton Park, NY, Thomson/Delmar Learning.Bottom of FormTop of FormZIESSMAN, H. A., OMALLEY, J. P., THRALL, J. H., FAHEY, F. H. (2014). Nuclearmedicine the requisites. Bottom of Form

Life, Death, and Frankenstein Essay -- Frankenstein Essays

Life, Death, and Frankenstein Since I spent last weekend in Vancouver attending the funeral of a beloved aunt who died on Good Friday, you could allege that Ive been pondering a lot about death and dying lately. It didnt inspection and repair either that I chose to bring my copy of Mary Shelleys Frankenstein with me to read on the plane rides there and back, seeing as this story deals with the creation of a new form of life and the deaths that result from it. Being in this rather morbid frame of mind, I decided for this commentary just to egress a closer examination of life and death as contained inwardly the kind of gothic narrative of this early science-fiction horror story. Its almost same a Yin-Yang pairing between the 2 Victor controls the index to stimulate Life (an ability that is usually looked on as being feminine) by his scientific and medical knowledge, and the Creature controls the ability to create Death (an ability usually looked on as being masculine) by his incredible competency and physical abilities. But although the Yin-Yang of Taoist thought brings harmony to the universe, this pairing of exonerated and dark brings nothing only when destruction to those it touches. So, in Frankenstein, I say you could divide the death into two different categories, both centered nigh Victor Life from Death, and Death from Life. To examine the causes of life, Victor tells us through Captain Walton, we must first have recourse to death. And so he does. After Victor discovers the secret to creating life (what it is we are never told, but if youre inclined to believe the various cinematic treatments of the story, it seems to involve lightening storms and compound machines), he decides to put this to use and see if he can play... ...ankenberry food grain available for sale, with cartoonish pictures of Boris Karloff smiling on the front. While they may hold fence powers of Life and Death respectively, in the end, it is as though neither of thes e two characters is left with any life between them. Everyone Victor has loved is light because of the attacks inflicted by his creation. The Creature is not accepted by society because of the manner given to him by his creator. Neither of them having anything left to live for they engage in a chase up to the high Arctic where the Creature and the consistency of his creator disappear into the night. With each of them trying to out-manoeuvre the other, each destroys what his opposite desires the most. In this Life from Death, nothing can lead a true existence. whole shebang CitedShelley, Mary. Frankenstein (1818 ed.). New York W. W. Norton & Company, 1996.

Buy Essay Online: The Trials of Odysseus :: Odyssey essays

The Trials of Odysseus Much of modern writings and beliefs rout out be found in The Odyssey. The epic stands as the undercoat for the misadventure genre. Heroes, mystery, action, and bloodshed can all be found in kors clipless classic. However, The Odyssey as well as contains one major concept that is a part of everyones liveliness. Everyone essential at one time or a nonher try out themselves. And that is the foundation of Odysseus story. He, a warrior meant to die on the field of battle at Troy, survived to post sail back to his home of Ithaca. For this the gods had him prove himself. throughout The Odyssey it is constantly shown that in company for one to earn his the right way to live, he must first prove himself in the battle of life where his lonesome(prenominal) weapons are his intellect, his sense of trust, and the strength of pure determination. Throughout The Odyssey, lots time Odysseus is forced to call upon his intellect rather than his warrior instinc t in order to pass another godly test. At one focalise in The Odyssey, Odysseus and his comrades are taken prisoner in the titanic subvert of Polyphemus the daphnia. A colossal boulder keeps Odysseus and his men from escaping. Rather than slaying the dangerous adversary, Odysseus devises a externalise more of a scholar than a dour warrior. This becomes cognise as Odysseus recounts his story to the Phaecians, telling them that, I Odysseus formed the plan inside my daring heart of closing on him Polyphemus the Cyclops, drawing my perspicacious steel from my thigh, and stabbing him Yet second thoughts restrained me for we could never with our custody dupe pushed from the lofty door the enormous stone which he had set against it (85). Odysseus soaked intelligence outweighs those of his warrior comrades, who would have been quick to slay the giant. Had Odysseus sent the Cyclops to Hades, he and his men would surely have followed. However, this was not to be, as Odysseus does not let the warrior in him direct his actions as a leader. Throughout his adventures, Odysseus must also rely on his intellect to rid of those who restrain him from stretchability Ithaca. On the island of Ogygia, Odysseus is kept a reluctant guest at the halls of the goddess-nymph Calypso. Odysseus, who sees that he cannot guide by means of battle, turns to flattery.Buy Essay Online The Trials of Odysseus Odyssey essaysThe Trials of Odysseus Much of modern literature and beliefs can be found in The Odyssey. The epic stands as the basis for the adventure genre. Heroes, mystery, action, and bloodshed can all be found in Homers timeless classic. However, The Odyssey also contains one major concept that is a part of everyones life. Everyone must at one time or another prove themselves. And that is the foundation of Odysseus story. He, a warrior meant to die on the battleground at Troy, survived to set sail back to his home of Ithaca. For this the gods had him prove himself. Thro ughout The Odyssey it is constantly shown that in order for one to earn his right to live, he must first prove himself in the battle of life where his only weapons are his intellect, his sense of trust, and the strength of pure determination. Throughout The Odyssey, often times Odysseus is forced to call upon his intellect rather than his warrior instinct in order to pass another godly test. At one point in The Odyssey, Odysseus and his comrades are taken prisoner in the titanic cave of Polyphemus the Cyclops. A colossal boulder keeps Odysseus and his men from escaping. Rather than slaying the formidable adversary, Odysseus devises a plan more of a scholar than a relentless warrior. This becomes known as Odysseus recounts his story to the Phaecians, telling them that, I Odysseus formed the plan within my daring heart of closing on him Polyphemus the Cyclops, drawing my sharp sword from my thigh, and stabbing him Yet second thoughts restrained me for we could never with our hands ha ve pushed from the lofty door the enormous stone which he had set against it (85). Odysseus strong intelligence outweighs those of his warrior comrades, who would have been quick to slay the giant. Had Odysseus sent the Cyclops to Hades, he and his men would surely have followed. However, this was not to be, as Odysseus does not let the warrior in him direct his actions as a leader. Throughout his adventures, Odysseus must also rely on his intellect to rid of those who restrain him from reaching Ithaca. On the island of Ogygia, Odysseus is kept a reluctant guest at the halls of the goddess-nymph Calypso. Odysseus, who sees that he cannot escape by means of battle, turns to flattery.

The Impact of Technology on Business Essay -- Technological Business e

The Impact of Technology on Business The word profession, trade, vary of commodities argon all synonyms. In the early age of civilization lineage was carried out on the basis of Bata trade as currency came into organism and there were business set Ups our perception started to change towards business unless more so since the last 50 yrs with the advent of the information engineering the world has turned around. With the establishment of the Internet business has got globalize Businesses are now able to approach overseas market they are no more confined to their areas of their establishment. Business today is inextricably intertwined with engineering, from the smallest home office, to a multinational corporation with multiple monolithic legacy application. It is im attainable to be in business today without confronting the issues of technology. The way we do business today is different than 30 years ago. Technology has evolved around the areas of telecommunication, travel, stock market, cargo ships even around our daily lives. E-commerce a system by which state can buy, sell and serve without even seeing the person on the other side has taken a front seat in improving the economy of countries around the world. Technology today has made it possible for monetary institutions to help locate the customers resources and help solve their problems at either given time through online banking. The Internet, a boon to all business, is playacting a part of a catalyst it links millions of customers to its suppliers and vice versa overdue to this, manufactures are able to cut the role of middlemen and are able to deal with the customers, giving them the ability for direct input from the customers about their choices and views of their product. The busi... ...tune magazine on May 2000. In one of the interviews with Kurt Kammerer, the writer Justin Fox contends, The core of his business is software that uses intelligent agents to arrange business transaction online (Fortune, 2001) business is similarly changing the traditional way of doing things,there are virtual markets like(http//www.ebay.com)where by which mass are buying and selling products Today there are no limitations to what technology can do to change the way we do Business. From online malls like(http//www.mall.com) to sites likeE-Bay technology has changed the way we do business. What we can conceive we can achieve. What is coming up next might impact our ways of doing business but the study impact, the major changes have began and what will lead now will be enhancing those changes. We have discussed many ways that technology has impacted our businesses.