Use tables or graphs to illustrate the price stability performance of Japan Essay Example

Use tables or graphs to illustrate the price stability performance of Japan Essay Japans economic slump, which began with a stock market crash in 1989, now lies in its fourth recession in ten years. The Asian banking and financial crisis has had a profound effect on this, the second largest economy in the world. Japanese under performing banks are carrying Yen150 trillion ($1.3 trillion) of bad loans. State-run corporations are dragging productivity down, unemployment is rising and Japanese consumer confidence remains low. Macroeconomic policy is proving highly unstable as Japans illness that of deflation remains predominant. Price stability is defined as the sustained absence of both inflation and deflation. (Mc Aleese: p.294, 2001). Further economic agents can make decisions regarding economic activity without being concerned about the fluctuation of the general price level. Along with effective fiscal policy, the control of government spending, low unemployment levels, controlled interest rates and hence inflation rates, macroeconomic policy is maintained. The most serious aspect of Japans economic sickness is deflation. Japans paralysis, where ineffective control measures have had many negative results, will now be discussed. Price Stability: We will write a custom essay sample on Use tables or graphs to illustrate the price stability performance of Japan specifically for you for only $16.38 $13.9/page Order now We will write a custom essay sample on Use tables or graphs to illustrate the price stability performance of Japan specifically for you FOR ONLY $16.38 $13.9/page Hire Writer We will write a custom essay sample on Use tables or graphs to illustrate the price stability performance of Japan specifically for you FOR ONLY $16.38 $13.9/page Hire Writer Price stability, or rather instability in Japans case, is characterised by the prolonged presence of deflation. The stock market is hovering around a 19 year low. The Nikkei 225, the most commonly used Share Price Index, had stood at 14 times the Dow through the 1980s. However in February 2002 it dropped below the Dow Jones Industrial for the first time since 1957. Japans persistent decline in the general price level is again indicated by the Consumer Price Index. Prices have shown a 1% fall per annum. These falling price levels have increased real debt burdens. National debt stands at over 130% of GDP (www.economist.com). Also Japans banks are chronically weak and burdened by duff loans of Yen37 trillion, about 7% of GDP. So Japanese banks have been left carrying excess bad loans, forcing them to cut lending. Together with depressed consumer spending it has proved impossible for the Bank of Japan to deliver the negative real interest rates that the economy needs to revive demand. Interest rates in Japan stand at virtually 0%. However most companies are not investing but paying down their debts (mentioned above). This adverse impact on investment is also due to the fact that real long-term interest rates in Japan have reached high percentages. The fact that interest rates stand at zero has kept inefficient firms afloat and delayed restructuring. This has contradicted Japans bust advantage. Structural adjustment and creative destruction can prove positive outcomes of negative fluctuations. However, rigid labour and product markets, along with the Japanese keiretsu relationship have hindered the weeding out of inefficient firms. Simultaneously, low interest rates have led to low inflation rates (-0.6% in 2001). This has reflected weak demand and thus the economic slowdown. These supply-side factors, such as the intensification of global competition and deregulation, have put additional downward pressure on prices. This is contributing to the high debt ratio and subsequent price destruction. This bout of recession and deflation has not only had negative impact on CPI, share prices, investment and inflation but also on property prices. Since 1991, commercial property prices have dropped by an average of 84% in Japans six biggest cities (www.economist.com). Housing demand has also collapsed since 1996. Analysis: It remains evident that Japans economy lies in uncertainty, where consistent unstable price performance has given rise to the lost decade. Its current situation comprises of internal factors (e.g. buyer uncertainty) and external factors (e.g. the U.S. current bubble burst). These counter-cyclical variables have had the following negative effect the decrease in economic activity in Japan has led to the increased unemployment rate (+5.3%), bankruptcies, non-performance loans etc. Analysing Japans current prolonged crisis, it becomes evident that it displays attributes of Keynesian economics. The existing shifts in aggregate demand, the low rate of investment and price rigidities, all clearly display this. Price stability is an indispensable prerequisite to ensure sustainable development of the economy (Masaru Hayami, Governor Bank of Japan). 77 year-old Mr. Hayami however has failed so far to deliver such a position. This political paralysis, where political resistance to reform is demonstrated, is hindering Japans recovery. Again, the current Japanese Prime Minister, Junichiro Koizumi (elected April 2001), who unveiled a series of economic reforms has met with little success against this rigid political system, resistant to reform. Furthermore his termination of Makiko Tanaka (his Foreign Minister) in January 2002, along with his lack of co-operation with Economics Minister, Heizo Takenaka, has left Japan still in search of a cure. Is there Evidence of Inflation or Deflation in Japan at the moment? What problems might be associated with very low inflation or deflation? Deflation is defined as the persistent decline in the general price level of goods and services1. The most common measure of inflation statistics is the Consumer Price Index (CPI). In Japan, this has fallen at a rate of about 1% since 1999. If the GDP Deflator is used this deflationary trend can be traced back to 1995. The difference between potential and actual GDP is called the output gap. This is another indicator of price stability (or instability). Price stability is defined as the sustained absence of deflation (falling prices) and inflation (rising prices). It is fundamental to the second pillar of the new consensus, macroeconomic stability. Therefore policy makers welcome disinflation and low inflation. Owing to the bias2 in constructing CPI indices, an inflation rate of 0-2% has become acceptable. There are certain costs of changing prices regardless of whether these are due to high inflation or deflation. There is a loss in efficiency as menu costs and shoe leather costs are incurred. Additionally, the necessary fiscal and monetary policies required to attain stability are costly. More specifically, why is deflation problematic? Initially, falling prices seem like a good thing and people feel as if they have more money in their pockets to spend. Even those on a fixed income, (state pensions, social welfare) benefit from an increase in real income. In spite of all this, the far-reaching contagion effects of deflation mean it is a phenomenon to be avoided. Rather than spending more on the goods, which they can now afford, a continuous fall in prices means that consumer and investor spending actually slows down. Consumers and businesses are reluctant to buy goods, which they expect to drop in value in the near future. Such speculation curbs investment and saving increases. In an effort to encourage borrowing for investment, nominal interest rates fall and approach zero. Since the nominal interest rate is the opportunity cost of holding money, savings further increase. This fall in investment demand and activity retards economic growth. Furthermore, since the nominal interest rate cannot fall below zero, the real interest rate will always be positive. In times of deflation, the burden of debt therefore increases. It would seem that lenders gain and borrowers lose. The problem for lenders occurs when debt rises too high and borrowers cannot afford repayments. Banks who earn profits through loan repayments cannot attract big borrowers. T his type of debt deflation is the main problem in the Japanese economy today but is also reminiscent of the Great Depression in the 1930s. In times of low economic growth, it is typical to lower the currency value thereby making exports more attractive to foreign investors. However, the low nominal interest rates induced by deflation have caused foreign demand for the Yen to rise. The Yen remains strong and exports remain relatively expensive. On the whole, wages are accepted to be ratchet. This means that even if prices are falling, the nominal wage rate will not fall. Higher debt repayments and squeezed profits mean that the pressure on companies to cut costs is twofold. This leads to a Darwinian shake-out as companies see job cuts as the only option to save on costs. Deflation is clearly at the root of Japans failing economy. Policy makers must now look to the formulation and implementation of an effective plan to fight deflation if there is any hope of a recovery.

Redon essays

Redon essays The work of Odilon Redon (1840-1916) vividly illustrates the theories of Symbolism. In reaction to his Impressionist contemporaries, whom he accused of "aiming too low", Redon sought to combine "human beauty with the nimbus of intellect". In creating such works as 'Closed Eyes', 'The Birth of Venus' and 'The Chariot of Apollo', he unlocked the door to the invisible. Imbued with the music of Wagner, enraptured by the poetry of Edgar Allan Poe, Baudelaire, and Mallarm, he lent expression to his obsessive fears and dreams in the prints and charcoals he called his noirs. Then, gradually, colour began to filter into his work, and the fallen angels, hideous monsters, gnomes, giants and fantastic forms gave way to women, bouquets of flowers, mythological subjects and butterflies. Oils, pastels and watercolours marked a turning point in his creative inspiration, bodied forth in a new and exceptionally sumptuous handling of colour. Serenity now took the place of fear. This new synthesis, this intimate fusion of the real and the symbolic, which was much admired by his young friends, the Nabis, calls to mind the famous maxim he had long since adopted, one that heralded the advent of Surrealism ...

A review of academic research undertaken in relation to Small and Assignment

A review of academic research undertaken in relation to Small and Medium Sized Enterprises - Assignment Example 5. The act focused on increasing the enterprises’ production outputs, increasing revenues and profits. 6. Small and medium enterprises reduce London’s Unemployment rate. 7. Small and medium enterprises are either sole proprietorships or partnerships. 8. Small and medium enterprises have less than 250 employees. 9. Small and medium enterprises are profitable business ventures. 10. U.K.’s laissez Faire (free) economy encourages entry into the lucrative small and medium enterprise market. 11. With lower capital investments than corporations, small and medium enterprises are preferred choices. 12. The United Kingdom government must implement the provisions of the 2008 Small Business Act for Europe. 13. The United Kingdom government must help lessen small and medium enterprises loan requirements. 14. The United Kingdom government must ensure small and medium enterprises comply with tax, labour, and environmental protection statutes. 15. Small and medium enterprises si gnificantly contribute to the improvement of the United Kingdom economy. Introduction Many individuals boldly join the risky small and medium enterprise market segment. The market segment is grounded on low capital investments. The market segment reduces the United Kingdom unemployment rate. ... Pederzini insists that the European Union exerted extra efforts to help the small and medium European Union member nations’ business money. With the small capital investments, the small and medium size business entities need additional borrowed funds (Warren, 2008). The borrowed funds will help increase the company’s revenues. With more revenues, the small and medium size companies will generate higher net profits. In addition, the additional loan amounts will help the companies pay for the salaries of additional employees. With more employees hired, the service and product quality and speed will consequently increase. After the successful launch of the 2000 European Charter for Small Enterprises, the European Union leaders launched the equally successful Lisbon Growth and Jobs Strategy in 2005. Next, the European Union leadership focused their attention to helping the small and medium enterprises improve their European Union business prospects (Dallago, 2012). In 2008, the European Union launched the timely Small Business Act for Europe. The act contains three favorable aims. First, the government leaders set the guidelines for the improvement economic environment of the small and medium enterprise players. The improvements will trigger higher revenues. With higher revenues, the enterprises can hire more workers. With more workers, the European Union’s unfavorably high unemployment rate will significantly drop to permissible levels (Dallago, 2012). Second, the act focused on increasing competitiveness among the European Union’s small and medium enterprise players. Increasing competitiveness significantly persuades the competitors to improve the quality of their products and services (Cant, 2009). Improvement of their products and

Molly Spotted Elk Research Paper Example | Topics and Well Written Essays - 1000 words

Molly Spotted Elk - Research Paper Example It is therefore believed that Molly Spotted Elk’s life was â€Å"a trail of tears† or a life of sadness and pain. Childhood Molly Spotted Elk was always believed as a â€Å"remarkable person in any light†3 just like what a former director of the Penobscot Nation Museum thought of her. Moreover, the same director thought of her life as â€Å"one of the most amazing unknown lives of any modern American woman,†4 despite the fact that she must have lived a sad life made up of several challenges. The struggle of Molly Spotted Elk must have begun early in childhood. Molly was born on Indian Island, Maine on November 17, 1903 as Mary Alice. Her mother, Philomena Solis Nelson, was a Maliseet Indian and one of the most prominent basket makers of her day. On the other hand, her father, Horace Nelson, was then a future governor of the Penobscot Nation, and was the first member of that Indian nation to go to Dartmouth College. Moreover, Molly’s grandfather had once been a chief of the Maliseet tribe in Canada5. As a child, Molly was different from her seven younger brothers and sisters for she took a great interest in learning traditional dances when she was only 13 years old. She did this in order to financially support her family6. It could have therefore been that at this time, Molly must suffered greatly from having to work for her family at such a young age. Moreover, Molly’s suffering was also evident when she scrubbed floors at night in order to be able to study anthropology during the day. She did this after entering the University of Pennsylvania without having enough money to pay for her tuition7. Moreover, she struggled to make both ends meet for her and for her family as well because she even had to send money to her family from her scrubbing work aside from having to pay for her tuition fee. In fact, â€Å"[Molly] was hungry and she needed to [perform to survive]†8 just like all Penobscot people, who themselves had to work hard and struggle. This must have been difficult for Molly herself considering the fact that she was not only a working student but also that she was a Native American Indian. Career as a Dancer When Molly was a dancer for the vaudeville troupe of the famous rodeo named Tex, she was a dancing sensation everywhere she went. However, although she was, as her family remembered, â€Å"a happy and completely free spirit†9, Molly danced even â€Å"topless†10. This must have been exciting even for her but it does not change the fact that a woman who dances topless does not care much about her image and reputation. Molly must have therefore suffered much at this point in her life. Career as an Actress In 1928, Molly Spotted Elk’s friendship with a Hollywood producer made her star in â€Å"The Silent Enemy,† one of Paramount Pictures’ last silent movies. Molly played the role of Neewa, the daughter of the tribal chief. In the movie, she was amon g the Ojibwa Indians who struggled against hunger, which was the silent enemy of the Indian people before the coming of the white man. The problem was that Molly had to endure the harshness and cold of the Canadian weather in the process. To make matters worse, the movie was not a success at all11. Life in Europe After the failure of â€Å"The Silent Enemy,† Molly went to Europe briefly to dance in front of the Old World Royalty, which included

Advantages and Disadvantages of tables computers for traveling Essay

Advantages and Disadvantages of tables computers for traveling salespeople - Essay Example The main aim of this paper is to provide a detailed analysis of the growing use of tablet computers by sales people. The paper would also contain a clear view of the various advantages and disadvantages of the tablet computers that can help salespeople to decide whether to choose tablet computers over other portable devices available in the market. The segments of tablet computers are considered to be one of the growing markets amid other electronic gadgets available in the business market. The main reason behind the growing preference of tablet computers over personal computers (PC’s) and laptops is their superiority in terms of convenience and features when compared to other hand held devices. It is worth mentioning that today’s youth also considers tablet as their first choice over mobile phones as they get larger screens and also provides additional advantages like high battery backup, full screen access and also provides the facility of calling over the laptop. The adaption of tablet PC by salesperson can be widely viewed due to their enhanced features and usability. The prime reason behind adapting tablet computers by salesperson it that, it not only provides them the advantage of carrying it anywhere but also helps in securing the data and helps business organization to keep a track of their sales. It also provides them with the facility to connect to any of their colleagues sitting anywhere. The ability to run programs, managing schedules, contacts can also be considered as an additional feature of tablet computers over laptops and other hand held devices. Though there has been continuous debate amid technological critics about the adaption of tablet computers by salespeople. ... The main aim of this paper is to provide a detailed analysis of the growing use of tablet computers by sales people. The paper would also contain a clear view of the various advantages and disadvantages of the tablet computers that can help salespeople to decide whether to choose tablet computers over other portable devices available in the market. Discussion The segments of tablet computers are considered to be one of the growing markets amid other electronic gadgets available in the business market. The main reason behind the growing preference of tablet computers over personal computers (PC’s) and laptops is their superiority in terms of convenience and features when compared to other hand held devices. It is worth mentioning that today’s youth also considers tablet as their first choice over mobile phones as they get larger screens and also provides additional advantages like high battery backup, full screen access and also provides the facility of calling over the laptop. The adaption of tablet PC by salesperson can be widely viewed due to their enhanced features and usability. The prime reason behind adapting tablet computers by salesperson it that, it not only provides them the advantage of carrying it anywhere but also helps in securing the data and helps business organization to keep a track of their sales. It also provides them with the facility to connect to any of their colleagues sitting anywhere. The ability to run programs, managing schedules, contacts can also be considered as an additional feature of tablet computers over laptops and other hand held devices. Though there has been continuous debate amid technological critics about the adaption of tablet computers by salespeople. Furthermore, it has been viewed that business persons

Study of Rail Structure: Risk Analysis and Failure Mode

Study of Rail Structure: Risk Analysis and Failure Mode Study of Rail Structure:  Risk Analysis and Failure Mode Avoidance In this case study, a brief overview of railway structure is discussed. Defects related to rail failure are considered essential to frame out the correct maintenance strategy. As it is closely associated with safety of passenger and cargo transportation, hence it retains high risk in terms of human lives and cost of resources. There will always be some risk associated with collisions and derailments but it can be reduced by eradication of the root causes. Exposure and amendment of rail defects are major issues for all rail companies around the world. There are challenges to the infrastructure maintenance individuals to perform effective inspection and cost effective rectification decisions. If addressed properly these can reduce potential risk of rail breaks and derailments. Risk assessment and Failure mode avoidance has become a vital constraint for the organisations to decide a cost effective and improved solution that could meet the financial constraints regarding inspection, renewal and replacement of rails and wheels. This study aims to reduce costs and risks related to rail operation by effective approaches. The issues and challenges related to rail maintenance are outlined. The maintenance strategy followed by most railway companies is also defined. Large Railways infrastructures are the prime manner of transportation in several countries. Improved and better safety measurements are continuously presented but still could not be considered as incidents proof. There will always be some risk related with derailments and other occurrences such as major disruption to services, which can furthered be minimised by detailed examination of the root causes. Some of the causes require improvement in skill and efficiency, for example human error, and some may be improved by optimization of inspection regularity. Therefore, a appropriate thorough study of the defects which develop both on the rolling stock and rail infrastructure is vital to frame out the correct maintenance approach. European Union spends around à ¢Ã¢â‚¬Å¡Ã‚ ¬ 2 billion every year for maintenance and repairing of broken rails (European Commission Cordis, 2017). It is understood that the consequential cost due to derailment decreases with rise in inspection, lubrication an d grinding charges. Risk in railways could be expressed in terms of cost, loss of human lives, infrastructure unavailability, traffic delay and environmental impact which may be caused due to derailment of a train carrying hazardous material. In this report, different kinds of rail defects and maintenance procedures followed are  described. Different risk assessment and failure mode avoidance methods and tools have been discussed briefly in this report. Some of the issues and challenges related to rail  maintenance are also addressed with an aim to reduce the total cost and risks associated with rail operations. Rails are longitudinal steel members that accommodate wheel loads and distribute these loads over the sleepers or supports, guiding the train wheels evenly and continuously. It is one of the most important components of the track structure. Usually a flat bottom rail  is used in conventional railway track, which can be separated into 3 parts: rail head, rail web  and rail foot. Many standards are used for rail profiles. (Kumar, 2007) Figure 1 shows the 2 common rail profiles. Figure 1: Flat bottom and Bullhead rail profiles The rails must possess sufficient stiffness so that they can act as beams and transfer the concentrated wheel loads to the spaced sleeper supports without excessive deflection between supports. (Ernest and John, 1994) Due to economic pressure, there is a world-wide trend to increase axle loads, traffic density  and speed to reduce the operating cost and increase the efficiency of railways. Axle loads  around the world have increased in general from 22.5 to 32.5 Tonnes in last ten years (Allen, 1999). This has led to increased rate of defect formation in rails. Some of the common defects are described in the following sections. 4.1. Shelling Shelling is a defect caused by loss of material initiated by subsurface fatigue. Shelling normally takes place at the gauge corner of high rails in curves. An elliptical shell like crack propagates in the subsurface parallel to the rail surface. When these cracks emerge on the surface, they cause the metal to come out from the crack area. It is generally eliminated by grinding. (Kumar, 2007) Figure 2: Shelling caused by Head Checks 4.2. Head Checks In the crown area, the contact stresses are generally low as it has greater profile radius in  comparison to the gauge side of rail. However, high contact stresses are produced on the high rails gauge corner, which usually has curve radius from 1000 to 1500 m. Head  checks are known to occur in tighter ((IHHA, 2001). If head checks are not controlled, they can cause a rail break. Grinding is the most common practice to remove head checks. Severe head checks need rail section replacement. 4.3. Squats Unlike shelling, squats appear in crown area of straight rail sections. They are surface  initiated defects formed by RCF. A squat is formed by two cracks, a leading crack and a  trailing crack. Both these cracks propagate in opposite direction. These defects could be prevented by grinding. (Kumar, 2007) 4.4. Spalling Spalling occurs, when the surface initiated crack development path is intersected by other similar shallow cracks on the rail head area, a shallow chip of rail material falls out. Spalling is more common in cold climates as rail stiffness increases. Figure 3: Gauge Corner Spalling in rails 4.5. Tache Ovale Tache Ovale is a subsurface defect formed around 10-15 mm below the rail head surface (see Figure 4). This is caused by hydrogen accumulation during manufacturing of rail or when poor welding is done in rails. Thermal and residual stresses also contribute to form this defect. Figure 4: Tache Ovale 4.6. Plastic Flow and Tongue Lipping Plastic flow occurs in rail head area, the depth of which may be up to 15 mm. Plastic flow  occurs on the field side of the low rail due to overloading. Tongue lipping is also a form of plastic deformation, but it is initiated by surface cracks. These cracks partially separate a layer of material from the bulk of rail. (IHHA, 2001) 4.7. Bolt Hole Crack Bolt holes appear in the rail web often starting from the fastening point of fishplates. But  these become weak points to resist crack initiation. These cracks have a very high potential to cause rail break and needs urgent replacement. 4.8. Longitudinal Vertical Crack This is a manufacturing defect, which usually appears in the rail web and may extend in rail  head also. If this crack is intersected by some other crack, it may lead to an early rail  fracture. Odds of sudden fracture due to this become predominant in cold climate. Figure 5: Longitudinal vertical crack 4.9. Transverse Crack Transverse crack is mostly developed in the cross-sectional area of defective weld joints. A  welding defect may be due to variation in weld material or rail manufacturing defect. Figure 6 shows a Transverse crack develops from the centre of the rail head or the rail foot. Use of clean steel and deeper hardening of rail head may avoid its formation. (Kumar, 2007) Figure 6: Transverse crack 4.10. Buckling Lateral buckling in rails is a very common defect in which the rail bulges out on its either side  due to expansion. As the temperature rises, longitudinal expansion in rail takes place. 4.11. Corrugation Corrugation is a rail flaw consisting of the wave-like wearing of the rail tread visualized as  peaks and valleys, in other words, it is a periodic irregularity of the rail surface (IHHA, 2001),  see Figure 7. Figure 7: Corrugation in rails Rail corrugations are the result of a damage mechanism, such as wear etc. Rail corrugations do not pose risk of immediate derailment, but they may be responsible for loosening of rail fastenings, ballast deterioration, increase in noise and vibration level leading to passenger discomfort, etc. Two main types of corrugations which generally occur in rails are: Short pitch corrugations Long pitch corrugation Tables below show the percentage and type of defect detection by different rail infrastructure  companies. Railway First Second Third Fourth Rail track (1999/2000) Squats 21.7% Vertical/transverse 20.1% Horizontal/longitudinal 12.5% Bolt holes 9.6% SNCF (1999) Squats 23.4% Internal fatigue 11.5% Shells 8.4% Thermite welds 4.7% HSPC (1999) Thermite welds 31.5% Wheel burns 17.2% Horizontal split webs 13.3% Bolt holes 11.3% NS (1997) Insulated Joints 59.4% Transverse defects 18% Thermite welds 15% Fatigue Failure 5.2% DB (1996) Thermite welds 29% Sudden fracture 18% Fatigue Failure 16% Electric bonds 4.0 % Banverket (1998) Transverse fracture 55.1% Welded joint 32.7% Horizontal defect 6.1% Vertical split 2.0% HH1 (1999) Vertical split heads 34.7% Thermite welds 20.3% Detail fractures 13.1% Bolt holes 12.2% HH2 (1999) Transverse defects 23.6% Thermite welds 15.5% Wheel burns 13.2% Shells 9.6% Table 1: Causes of defective rails (Source: Kumar, 2007) Rail breaks and derailments can cost the rail players in terms of loss of revenue, property, environmental damage or even loss of life. Estimation of these costs and analysis of risks are important in deciding effective maintenance strategies. In simple terms, risk can be defined as the chance or probability of loss, damage or injury. (Reddy, 2004) 5.1. Failure Mode and Effects Analysis (FMEA) FMEA is a step-by-step procedure for systematic evaluation of the severity of potential failure modes in a system. This process was originally developed in the 1960s, to analyse the safety of aircrafts, but has been since applied to several other fields, including nuclear power plants and the military. (Villemeur, 1992-A) Figure 8: Schematic representation of the FMEA. (Source: Villemeur, 1992-A). 5.2. Risk Priority Number (RPN) Risk priority number (RPN) is a methodology for analysing the risk associated with potential  problems identified during (FMEA) (for details refer Reliasoft, 2005). Assigning RPN requires the analysis team to rate each potential problem per three rating scales: Severity Occurrence Detection After the ratings, have been assigned the RPN for each issue is calculated as mentioned below, RPN = Severity x Occurrence x Detection Rail maintenance issues can be broadly classified into: Inspection issues Issues related to rail wear, RCF and rail welding Rectification and replacement issues 6.1. Rail Inspection Issues The effectiveness of rail inspection depends on the efficiency and accuracy of the inspecting  equipment. It also depends on the skill and experience of inspectors. Error in inspection is an important issue and its reduction is a big challenge. This mainly depends on the technological limitations of the inspection equipment and the skill level of the rail inspectors. Figure 9: Rail inspection issues (Source: Kumar, 2007) 6.2. Issues related to Rail Wear, RCF and Rail Welding Figure 11 outlines the rail maintenance issues. The following sections briefly describe some  of these issues. Figure 10: Rail maintenance issues (Source: Kumar, 2007) 6.2.1. Rail Wear Issues Wear occurs due to interaction of rail and wheel. It includes mild and severe wear. Mild wear takes place slowly but severe wear is often much faster. Severe wear is predominant in curves and occurs dry conditions. Lubrication techniques are used to prevent such wears. Four commonly used techniques which are followed for rail-wheel lubrication are: Top of rail lubricators Wheel flange lubricators Wayside lubricators On board lubricators 6.2.2. Rolling Contact Fatigue (RCF) Issues In the late 1990s RCF accounted for about 60% of defects found by East Japan Railways, while in France (SNCF) and UK (Railtrack) the figures were about 25% and 15%,  respectively. RCF is a major future concern as business demands for higher speed; higher axle loads, higher traffic density and higher tractive forces increase (see Cannon et al, 2003). Rail grinding removes surface metal from the rail head. It is done mainly with intensions to control RCF defects and rail wear. Rail grinding became increasingly recognized for controlling RCF defects from 1980 onwards, prior to that it was mainly focused on corrugation removal. 6.2.3. Rail Welding Issues Small imperfection in welds can cause cracks to initiate. A defect free weld requires skilled  workforce, better weld material along with improved welding techniques and equipment. 6.3. Other Issues affecting Rail Wear, RCF and Rail Welding Risk and cost are analysed by rail infrastructure operators in maintenance decisions. It covers rail lubrication, rail grinding and rail weld. Other important issues are: Rail material Rail traffic density and axle load Track geometry In Conclusion, first a brief overview of rail structure is discussed. Then, diverse range of rail defects and degradation processes have been studied. From the literature analyses done, it is interpreted that there is a need for better ways to monitor and predict rail defects over a period based on operational conditions and maintenance tactics. A good knowledge of risk along with an idea of the methods used for risk analysis is also required. Hence, before improvement of any model or any empirical relationship associated with risk and failure, there should first be a familiarity with risk management tools and failure mode avoidance. This study focuses on some such tools. Also, the issues and challenges related to rail maintenance are discoursed. The aim is to reduce risks related to rail operation that leads to failure mode, by effective decisions associated to rail inspection, grinding, rectifications lubrications, and rail replacements. Some of the challenges in this area include development of cost effective maintenance decisions, reliability and availability of logistics support, which include availability of capable equipment, skilled personnel and availability of rail track. 8.1. References Allen, R., (1999) Finding best practice at the wheel/rail interface, International Railway  Journal, Volume 6, pp. 48-50. European Commission Cordis (2017) AutoScan Rail inspection. Available from: http://cordis.europa.eu/project/rcn/203338_en.html sighted: [February 2017] Cannon, D. F., Edel, K.O., Grassie, S. L. and Sawley, K. (2003) Rail defects: an overview,  Fatigue Fracture of Engineering Materials Structures, Volume 26, October 2003, pp.  865-886. Ernest, T. S. and John, M. W. (1994) Track Geometry and Substructure Management,  Thomas Telfold. IHHA (2001) Guidelines to best practices for heavy haul railway operations: wheel and rail  interface issues, International Heavy Haul Association, May 2001, Virginia, USA. KUMAR, S. (2007). Study of Rail Breaks: Associated Risks and Maintenance Strategies. Lulea Railway Research Center (JVTC)  MIL-STD-1629A, (1980) Military Standard Procedures for Performing a Failure Mode,  Effects and Criticality Analysis, Department of Defence, USA. Available from: http://www.uscg.mil/hq/g-m/risk/e-guidelines/RBDM/html/vol4/Volume4/Toolspec_Rec/FMEA/MIL-STD-1629A.pdf sighted: [February 2017] Reddy, V. (2004) Modelling and Analysis of Rail Grinding Lubrication Strategies for  Controlling Rolling Contact Fatigue (RCF) and Rail Wear, Master Thesis, Queensland  University of Technology, Brisbane, Australia. Reliasoft (2005) Examining risk priority numbers in FEMA, Reliability Edge, volume 4,  issue1. Available from: http://www.reliasoft.com/newsletter/2q2003/rpns.htm sighted: [February 2017] VILLEMEUR, Alain (1992-A, 1992-B). Reliability, Availability, Maintainability and Safety Assessment, A: Vol. 1: Methods and Technique. B Vol.2: Assessment, Hardware, Software and Human Factors: John Wiley Sons. 8.2. Figures: Figure 1: https://upload.wikimedia.org/wikipedia/commons/thumb/4/4b/Rail_profile.svg/800px-Rail_profile.svg.png?1487817217791 Figure 2: http://www.ndt.net/article/v07n06/thomas/fig3.jpg Figure 3: http://www.railwayexpertwitness.com/images/inspect9-300.jpg Figure 4: https://www.researchgate.net/publication/229632336/figure/fig8/AS:[emailprotected]/Figure-1-Tache-ovale-or-kidney-rail-failure.png Figure 5: http://www.ndt.net/article/0698/schub/fig1.gif Figure 6: http://mikes.railhistory.railfan.net/imfile/09192.jpg Figure 7: http://railmeasurement.com/wp-content/uploads/2015/04/corrugation-track1.jpg Figure 8: VILLEMEUR, Alain (1992-A, 1992-B). Reliability, Availability, Maintainability and Safety Assessment, A: Vol. 1: Methods and Technique. B Vol.2: Assessment, Hardware, Software and Human Factors: John Wiley Sons. Figure 9 and 10: KUMAR, S. (2007). Study of Rail Breaks: Associated Risks and Maintenance Strategies. Lulea Railway Research Center (JVTC)

Reasons for Defining and Criminalizing Terrorism in International Law E

Terrorism is focused on a one-sided belief that dictates massive destruction of institutions, foundations and national symbols. It represents a philosophy, which does not comply with common sense. Terrorism acts are a matter of individual psychology, relentless ideology, religious commitment, or political passion. The most devastating terrorism attack in the United States was on September 11, 2001. Other U S attacks were the Manhattan attack in 1997, the Anthrax attack in 2001, a prior World Trade Center attack in 1993, the Wall Street Bombing attack in 1920, and the Kalama City bombing in 1995 (Askshintala, 2013). Terrorism attacks have also taken place in Israel, Greece, Chechnya a border between Russia and European countries and India (Askshintala, 2013). All of these attacks and other attacks that were not as devastating have become much of an international legal debate on terrorism. Terrorism should be criminalized under international law. During the 21st Century acts of domestic and international terrorism have significantly increased. Thus the international community of nations has the challenge to adopt a common approach to the treatment of terrorism as an international crime. The challenge at present is for the international community of nations to adopt a common approach to the treatment of terrorism as an international crime (Lawless, 2008). In fact, terrorism is an international crime it requires the international community to act in the prevention of terrorism and the sanction of individuals perpetrating acts of terrorism(Lawless, 2008). The September 2011 attack on the United States has presented an opportunity for the internationalist forces to come to the forefront of the global political agenda. ... ... of the Terrorist Attack: Economic, Financial and Policy Consequences. Retrieved from Council on Foreign Relations Web site: http://www.cfr.org/terrorism-and-the-economy/aftermath-terrorist-attack-economic-financial-policy-consequences/p4041 Lawless, M. (2008, October 8). Terrorism: An International Crime. Retrieved from Canadaian Military Journal: http://www.journal.forces.gc.ca/vo9/no2/05-lawless-eng.asp Saul, B. (2014, February 28). Three Reasons for Defining and Criminalizing Terrorism. Retrieved from Esil-sedi.eu Web site: http://www.esil-sedi.eu/sites/default/files/Saul_0.PDF Staff. (2013, November 7). Dictionary. Retrieved from World Net Princeton Web site: http://wordnetweb.princetion.edu/peri/webwn?s=terrorist%20group Walker, J. (2001, September 15). The Cause of Terrorism. Retrieved from No Beliefs.com Web site: http://www.nobeliefs.com/terrorism.htm

Brand Philosophy of a Radio Channel

Brand philosophy †It's Hot† the promo for the channel has become everyday lingo of the  youth. â€Å"Its Hot! †¦ Most Popular Radio Channel amongst Youth at the 2nd Global Youth Marketing Forum, the tag line â€Å" its Hot! † conveys that the brand is young, exciting. Radio Mirchi is also very adaptive as it customizes itself based on the city it is in. Radio Mirchi Chennai is typically in Tamil and its slogan ‘What a Fun! ’ has bowled its fans over. Radio Mirchi Mumbai is dominated by Marathi. Thus, the language, culture and region are carefully kept in mind by everyone from the RJs to the producers.Radio Mirchi is truly an innovative radio station. It caters to the needs of all sections of society in spite of its ‘young’ feel. For example, ‘Chatpati Baatein’ is a show for women, specifically housewives, bored out of their wits after a long day of work. Similarly, ‘On the Move’ is for executives and the m overs and shakers of the corporate world. Music, chat shows and interviews are enjoyed by the youth and are relayed throughout the day at regular intervals. It keeps customer informed. Willingness to help customer through different programs. They are having gender base segmentation, age group base, etc.In the early morning they are targeting to the old persons because they likes bhajans & kirtans. In the early morning they stared this programme at 5 am to 7 am. They are providing gift vouchers, gifts couple tickets, etc. So consumer or the listeners are attract and listen the radio mirchi. They are using Clustered Preferences. Radio Mirchi targeted to the college students and teenagers so they are playing hot & new songs. They are also targeting the mature person & they like to listen songs. Radio Mirchi are playing this kind of old songs in the night in the show Purani Jeans.For many different occasions Mirchi came up with unique game or any kind of attractive show. For eg. New Yea r’s, Diwali, R. D. Burman’s birthday etc. customers are highly attracted to all these innovative shows and participated. It uses the tagline â€Å"Sakat hotmaga, Mirchi SunneWale Always Khush, It's hot. Radio Mirchi promotes its radio station in different cities in their local language. The punch line of Radio Mirchi (Mirchi sunnewale always khush) focuses on its customer and the quality of music provided by them. They try to come up with new innovative ideas thereby making their radio the most preferred station with largest listenership.There latest innovation is in the style of radio jockeys. Generally, radio jockeys speak non-stop quite fast entertaining the masses. Their way of telling jokes attracts people. It delivers the best combination of innovative content and interesting initiatives. Their programs: SHOW TIME which target TARGET AUDIENCE, Female oriented Khoobsurat , Quizzes related to Total Filmy bollywood, Sunset Samosa , Play old music Purani Jeans, Ask solution for Dr. Love relationship problems . -Naina Sharma Roll no. -935

London Bridge Hospital Operational Methods and Strategies The WritePass Journal

London Bridge Hospital Operational Methods and Strategies Introduction London Bridge Hospital Operational Methods and Strategies , p. 588). The London Bridge Hospital uses operations management methods and strategies in understanding and improving labor productivity, shortening cycle times, improving the overall experience of patients, and reducing waiting lines. All these contribute to the overall financial health of the hospital. Operational methods and strategies in the Healthcare Industry In the healthcare industry and in particular hospitals, healthcare operations is a summation of all the functions that allow the hospital staff to offer their services to the patients in the best possible way. Chahal (2010, p. 362) says that the various transformations going on in the healthcare industry across the world are driving the people working in hospitals and other healthcare facilities to also adopt the reforms in their daily operations. The management of the London Bridge Hospital is aware of the fact that operational efficiency is critical to the success of any business organization. This is particularly so because the opinions developed by the patients on the hospital plays a big role in determining not only whether they will come back or not but also on the messages that they pass to their peers who are also potential clients to the hospital (Stock McDermott, 2011, p. 145). The London Bridge Hospital faces many different challenges that range from resource utilization, improvement of care, to lowering the costs to the patients. Reduction of the bottlenecks and implementation of solutions to the common problems are vital in ensuring the success of the hospital in both the short and long run. The hospital has both internal and external customers. The external customers of the London Bridge Hospital are the patients and other people who visit the hospital and its other premises for help. In particular it includes the patients, their friends, family members or any other representatives. Harper (2002, p. 169) says that the internal customers on the other hand are the facilities and the hospital staff. The employees of the hospital often buy products like medicine from the hospital store, come for treatment whenever they get sick and refer their friends and relatives to come to the hospital. The latter category of customers is very important in determining th e success or failure of the hospital as they are not only customers of the hospital, but also offer service to the external customers. This is why the management of the London Bridge Hospital does its best to ensure that its employees are well remunerated and have good working terms. As already outlined, the external customers are the people receiving services from the hospital. These customers expect the hospital staff to adapt a more personal approach in executing their service and willingness to keep them happy. The internal customers on the other hand expect that the different departments in the hospital should function efficiently in order to improve their work experience. For example, the central department should always ensure that all the instruments used in patient care are properly sterilized and stored in their right places (Dwyer et al 2010, p 519).   They should also ensure that the doctors get the right instruments when they need them. This is an important department in the hospital as the nurses, other hospital staff and doctors depend directly on it and its efficiency has a direct impact on the external customers. Operational objectives Healthcare operations management as a discipline integrates different principles of scientific management in determining the most optimal and efficient methods in supporting the delivery of care to the patients. Although the London Bridge Hospital does not have a department named operational management, most of the positions in the hospital involve roles of coordination and execution of different operations. Nearly 85% of hospitals are nonprofit in nature as they are there to serve the community in which they operate (Dey, Hariharan, Clegg, 2006, p. 861). Some nonprofits hospitals are often exempt from paying some taxes and are not required to continuously show positive growth rates or large profit margins like is done by most publicly traded companies. However, if a hospital fails to show positive return on the capital invested then there will be negative consequences on the economy. For instance, if a hospital fails to show reasonable margins, then the public bond market (the publ ic bond market finances most of the healthcare growth today) will likely record sub-par credit ratings. Sachdeva, Williams Quigley (2007, p. 162) claim that the consequence of this is that the bonds will have poor yields hence rendering the hospitals less than stellar investments for bondholders. The limited profit margins imply that there will be little money to invest back in the business to ensure that the buildings are updated, technology innovated, equipment replaced and clinical programs continue to expand and be enhanced. Without the investments, the hospitals will lose the ability to attract the most qualified administrators and physicians and the downward spiral will continue. While some healthcare systems and hospitals at times wait for changes in public health policy to save them, some competitive and successful ones like the London Bridge Hospital act in advance in order to save their margins. The current economic climate is characterized by perpetual pricing pressures that affect the top of the line income statement. In fact more than 50% of all hospitals report negative profit margins (Sinreich, Jabali, 2007, p. 301). This is why it is essential for hospitals to start looking forward toward more sophisticated business strategies in order to succeed. The London Bridge Hospital uses differentiated marketing strategies and programs, long term planning on service lines and broader use of advertising in order to be able to succeed in its business operations. It does this in tandem with adopting broader logistical and operational techniques into the business affairs of the hospital. The London Bridge Hospital monitors and maximizes labor productivity for all the medical support and allied health professionals as a way of maintaining salary expenses. The other strategies that other hospitals have adopted but are not currently in use by the London Bridge Hospital include: Incorporation of methods of scheduling optimization and queuing theory to eliminate time wastage and cycle time out of hospitals. Incorporation of techniques of logistical and supply chain in reducing operational expenses. Elimination of excess safety stocks. General improvement on the management of the working capital. Use of technology in the automation and streamlining of all the hospital operations to reduce operational costs and maximize efficiency. The hospitals and other healthcare organizations cannot depend on the extrinsic factors like shifts in managed care market structures and health policy as tools for changing their margin potentials. Although the macro level issues are important, the organizational and micro economic issues are more important as they have a strong and direct impact on a particular organization. In fact all the microeconomic issues are a function of operational management. As such, operational management is a set of intrinsic decisions and processes that assist in addressing productivity, costs, process and technology (Ford et al 2004, p.26). Healthcare is a primary service sector because the industry provides intangible goods to the customers. The goods here cannot be seen or touched. The services provided by the London Bridge Hospital and other hospitals in the industry are somewhat unique, differentiated, knowledge based and have high levels of customer interaction (Teoh, Pan,   Ramchand, 2012, p.588). There are also physical goods that accompany the service in the hospitals which the supply chain procures and replenishes. The hospitals also store medical supplies and pharmaceuticals. Therefore, in this regard hospitals have a mix of both tangible and intangible characteristics. It is these attributes that make operations management in hospitals a little different from those of other industries that strictly produce physical goods. It is in this regard that Harper (2002, p 171) defines healthcare operations management as the quantitative management of processes and supporting business systems that transform resources (inputs) into healthcare services (outputs). Inputs in this case refer to the resources and assets like equipment, labor, technology, cash, personnel and space.   The outputs include actual production and delivery of healthcare services. Quantitative management uses extensive quality improvement techniques, optimization and analytical tools to drive improved results. Healthcare operations management integrates quantitative or scientific principles in determining the most optimal and efficient methods of supporting patient care delivery. Functions of Healthcare Operations Management Healthcare operational management is a relatively new field in healthcare although it has been in existence in the other industries for many years. Its scope includes all functions related to business processes and management systems that underlie clinical care. It includes physical labor, physical network optimization, workflow, process engineering, supply chain and logistics management, capacity design, staffing and productivity management (Lorence Jameson 2002, p 749).   The healthcare operations and logistics management includes all the business functions that provide job opportunities for the people like administrators, operations supervisors and scheduling manager.    Operations Management Objectives or Issue to consider Workflow process How many manual processes exist? Are there ways of reducing steps, cycle time and choke points for the key processes? Can we improve speed and patient satisfaction? Are there too many departments or people performing the same task? Capacity design and planning How to reduce bottlenecks to improve the experience of patients? In which case to increase the use of technology to improve labor productivity? Staffing levels and productivity management How much output to expect from the employees? Have we maximized the use of automation and electronic commerce in increasing productivity? Quality, planning and process improvement Do we know how to compare the key competitors? Do we use advanced tools for tracking projects? Have we identified the quality issues that affect the goals of customer satisfaction and efficacy? Physical layout Are the hospital facilities designed with the consideration of traffic flow, operational efficiency and consideration of speed? Physical network optimization How to strategically utilize vendors and their facilities Where to strategically position the different facilities like pharmacy satellites, supplies and warehouses in order to minimize costs and resources. Supply chain and logistics management How much inventory needed at a particular time Whether or not to use perpetual inventory in ensuring stringent internal controls and accurate financial reporting Have we built collaborative planning and forecasting processes to standardize items and reduce total costs? The goals of operational management The operational management team in the hospital is tasked with different goals and functions in the hospital that include reduction of variability, costs, improve logistics, business processes, productivity, flow of logistics, and quality of customer service. These are explained in more details in the following sections Reduce costs The primary role of operational management is to take out the costs of the healthcare system. It finds waste, improves utilization, stabilizes and reduces the overall costs of service delivery. A hospital that has an appropriate management and tracking system   with the ability to isolate material, personnel and other resources utilized for delivery of care is more likely to reduce the costs of operation because it has a good understanding of the underlying cost structure (Teoh, Pan, Ramchand, 2012, p. 591). Once the costs have been identified and all unnecessary wastes eliminated then an organization can operate efficiently. Reduce variability and improve the flow of logistics The operations management team should continually look for more efficient and optimal ways of moving both physical and information resources. This should go together with reducing variability. Chahal (2010, p355) defines variability as the inconsistency or dispersion of inputs and outputs. Variability disrupts processes because it leads to uncertainty, too few or many resources and inconsistent results. For instance, if there are 30 patients seeking treatment in a certain hospital within a specific period, and then in the following period the number doubles or triples it creates problems for the employees in terms of controlling waiting times and general management of patient flows. An improvement in flows means higher yields or throughput with the same level of resource input. Shapiro Shapiro (2003, p246) define throughput as the velocity or rate at which goods are delivered or services performed. In the hospital situation, if a hospital attends to ten patients per hour and can inc rease the number to 15 per hour then this represents a 50% improvement in throughput and logistical flow (Miller, Sumner, Deane, 2009, p. 156). In the same manner, if the number of patients in the hospital doubles and the hospital manages to maintain the same historical inventory levels of pharmaceutical supplies then this is a significant improvement in material flow owing to the higher level of capacity utilization. Resource consumption and staffing should be directly tied to workload and patient volumes (Cowen, 2008, p.410). If the number of patients increases the quantity of the resources should equally increase. Good management of this variability allows a change in staffing mix and scheduling to accommodate the changes without staffing at the low points, valleys or peaks. Improve Productivity Improving productivity means looking for higher levels of output from all employees and other assets. This ensures that the hospital is operating optimally with high levels of efficiency by not only eliminating bottlenecks but also making efficient use of the available resources within the organization (Leury, Jean-Louis, Sicotte, 2003, p58). Improve the quality of customer care Improving quality means reducing medical errors and improving the safety of the patients. Additionally, constant improvement and maintenance of high quality service levels in terms of both patient care and other business services like admissions and cafeteria is also important. In the healthcare industry just like other industries, higher quality services leads to the ability to secure higher prices and this has the effect of driving an increase in operating margins and market shares (McCue McCluer, 2008, p 36). Ensuring an improvement in the patient satisfaction levels and reducing waiting and response times simultaneously ensures that the patients get higher quality services. Continuously improve Business Processes In the highly structured organizations like hospitals, business processes often tend to be unique in all departments as they are not integrated or highly cross functional. For example the operating room of a hospital may handle the procurement of a certain good in a certain way while the gynecology department of the same hospital handles it in a totally different way.   Miller, Sumner, Deane (2009, p. 110) assert that in large hospitals most departments operate as independent businesses which lead to multiple problems of efficiency. This is where operations management comes in as it ensures that efficiency and effectiveness are greatly improved in the organization. Recommended Changes From the analysis it is clear that the London Bridge Hospital is performing fairly well in terms of operational management although there are areas that the hospital management needs to work on in order to improve the general performance of the organization. First off the hospital should incorporate methods of scheduling optimization and queuing theory to eliminate time wastage and cycle time out of hospitals.   Efficient scheduling and queuing methods will improve the experience of the customers by eliminating unnecessary time wastage. The hospital should also incorporate techniques of logistical and supply chain as a way of reducing operational expenses.  Ã‚   Improved logistics and throughput in the hospital will increase the workflow and overall capacity (Noon et al 2003, p97). The London Bridge Hospital should tie staffing and resource consumption directly with workload and patient volumes. This will ensure that if the number of patients increase, then the number of resource s should equally increase as a response. Once the hospital manages to efficiently deal with the variability in the number of patients, it will have created a change in the staffing mix and scheduling to accommodate any changes. Staffing at the peaks leads to excessive costs whereas staffing for the valleys leads to periodic long lines because of the limited resources. The success or failure of the hospital depends directly on its readiness to cope well with the valleys and peaks without disrupting the normal flow of operations. This is where technology comes in as it automates most if not all of the manual processes. It also improves transaction processing capabilities and the quality of analysis, reports and organizational decisions. This will alter all the economics of the hospital because mechanization allows for faster production and delivery using relatively less resources. Substituting capital or technology for labor especially in the department of business support services wi ll reduce transactional and processing costs in the long run. As such, the role of technology in enhancing productivity is one which the London Bridge Hospital should take into consideration. Conclusion Although operations management is a relatively new phenomenon in the healthcare industry compared to the other industries, it is important to the industry because hospitals face the same challenges just like the other business organizations. The London Bridge Hospital is already making use of most of the principles of operational management although it still needs to implement some changes in its way of operation as highlighted in the discussion. These changes will ensure that the hospital continues to perform well both in the short and long run. Hospital operational management will help the London Bridge Hospital to deal efficiently with the challenges that it is currently facing. Additionally, this paper has shown that the manner in which the hospital responds to the valleys and peaks is critical to its performance. Hospital operational management has the solution for this as it puts in place mechanisms that ensure that the organization makes optimal and efficient use of its resour ces to achieve the best results without any shortages or wastages in terms of resource allocation and utilization. Bibliography Chahal, H. 2010, Two component customer relationship management model for healthcare services, Managing Service Quality, vol. 20, no. 4, pp. 343-365. Cowen, M.E., M.D., Halasyamani, L.K., M.D., McMurtrie, D., M.D., Hoffman, D., R.N., Polley, T., M.D., Alexander, J.A., PhD. Banko, P.D., F.A.C.H.E. 2008, Organizational Structure for Addressing the Attributes of the Ideal Healthcare Delivery System/PRACTITIONER APPLICATION, Journal of Healthcare Management, vol. 53, no. 6, pp. 407-18; discussion 419. Dey, P.K., Hariharan, S. Clegg, B.T. 2006, Measuring the operational performance of intensive care units using the analytic hierarchy process approach, International Journal of Operations Production Management, vol. 26, no. 8, pp. 849-865. Dwyer, Alison J, MBBS, MBA, MHSM,F.R.A.C.M.A., F.C.H.S.M. 2010, Medical managers in contemporary healthcare organizations: a consideration of the literature, Australian Health Review, vol. 34, no. 4, pp. 514-22. Ford, R., Boss, R.W., Angermeier, I., Townson, C.D. Jennings, T.A. 2004, Adapting to Change in Healthcare: Aligning Strategic Intent and Operational Capacity, Hospital topics, vol. 82, no. 4, pp. 20-9. Harper, P. R. (2002). A framework for operational modeling of hospital resources. Health Care Management Science, 5(3), 165-73. Leury, M., Jean-Louis, D. Sicotte, C. 2003, The role of regional planning and management strategies in the transformation of the healthcare system, Health Services Management Research, vol. 16, no. 1, pp. 56-69. Lorence, D.P. Jameson, R. 2002, Adoption of information quality management practices in US healthcare organizations: A national assessment, The International Journal of Quality Reliability Management, vol. 19, no. 6, pp. 737-756. McCue, M.J. McCluer, R.F. 2008, Financial and Operational Ratios for Bond-Insured Hospitals, Hospital topics, vol. 86, no. 1, pp. 37. Miller, W.J., Sumner, A.T. Deane, R.H. 2009, Assessment of Quality Management Practices Within the Healthcare Industry, American Journal of Economics and Business Administration, vol. 1, no. 2, pp. 105-113. Noon, C.E., Hankins, C.T., Cote, M.J. Lieb, M. 2003, Understanding the impact of variation in the delivery of healthcare services / Practitioner application, Journal of Healthcare Management, vol. 48, no. 2, pp. 82-97; discussion 97-8. Sachdeva, R., Williams, T. Quigley, J. 2007, Mixing methodologies to enhance the implementation of healthcare operational research, The Journal of the Operational Research Society, vol. 58, no. 2, pp. 159-167. Shapiro, J. Shapiro, R. 2003, Towards an improved collaboration model for the national healthcare system in England and Wales: A critical and constructive approach using operational research, Logistics Information Management, vol. 16, no. 3, pp. 246-258. Sinreich, D., Jabali, O. (2007). Staggered work shifts: A way to downsize and restructure an emergency department workforce yet maintain current operational performance. Health Care Management Science, 10(3), 293-308. Stock, G.N. McDermott, C. 2011, Operational and contextual drivers of hospital costs, Journal of Health Organization and Management, vol. 25, no. 2, pp. 142-58. Teoh, S. Y., Pan, S. L., Ramchand, A. M. (2012). Resource management activities in healthcare information systems: A process perspective. Information Systems Frontiers, 14(3), 585-600.

Lincolns murder..Mary Surratt essays

Lincoln's murder..Mary Surratt essays It is common knowledge amongst Americans that President Abraham Lincoln was assassinated. But what many people dont know about is the conspiracy surrounding it. The uncovering of this conspiracy led to the first execution of a woman in the United States. The resulting execution of Mary Surratt was unconstitutional. Lincoln was assassinated in Fords Theater on April 13, 1865. Multitudes of conspiracy theories have been concocted to try to explain why, but there is one that is considered the real story. It is the concept of the small conspiracy that named John Wilkes Booth as After the murder, the government arrested hundreds of people it believed were capable of having participated in the crime. In the end, eight were charged with conspiracy and the others were let go. (1865 Assassination) One of these eight people was Mary Surratt. She owned a boarding house in Maryland, right outside of Washington DC. Mary was 42 at the time of these occurrences and had three children. (1865 Assassination) During the Civil War, one of her children John Surratt Jr., became a spy for the Confederate army. Through this, he met a man named John Wilkes Booth. They became friendly and Booth started to frequently visit the Boarding house that Mary owned. This is how she came to be accused of keeping the nest that hatched the egg and doing favors for Booth to help organize the assassination and help him escape. It was said that Booth used the boarding house to hold meetings concerning Lincolns assassination. Other people who were associated with the murder also visited the boarding house, but nobody can be positive that Mary had anything to do On April 11, 1865, Mary made a trip to Surrattsville. She was accompanied by Louis Weichmann. They met John Lloyd on the way. Mary had rented the tavern that her ...

Voidable Transactions Essay Example | Topics and Well Written Essays - 2250 words

Voidable Transactions - Essay Example Thus voidable transactions in general and unfair preferences in particular which are highly technical areas of insolvency legislation presuppose that there is the likelihood that individuals and businesses might become insolvent prior to formal declaration of their insolvency.2 The features that make a transaction voidable are described under Section 588 FE. This section covers all the transactions entered into on or after 23rd June 1993. Section 9 of the Act defines the term 'transaction' as one to which the 'body corporate' is a party. The transactions may include a conveyance, transfer or other disposition and a charge created or guarantee created by the body corporate. It also includes an obligation on the party of the body corporate or a release or waiver granted by the company. The term further extends to a loan extended by the body. The conditions under which a transaction becomes a voidable transaction are enumerated under Section 588 FE (2). ... Such transactions or acts done at any time after that day but on or before the day when the process of winding up began will also be treated as voidable transactions. The time period of six months is being extended to 10 years ending on the relation-back date in cases where the insolvent transaction has the effect of defeating, delaying or interfering with the rights of creditors of the company. Thus an insolvent transaction of a company entered in to during 10 years ending on the relation-back day would be considered voidable if the transaction was entered into with the specific intention of hindering the rights of the creditors of the company. Section 588FE (4) makes an insolvent transaction voidable when a related entity of the company is a party to such transaction. This Section extends the time period covering the transaction for a period of 4 years ending on the relation-back day. Under Section 588 FG a person against whom the liquidator proceeds for voidable transaction is eligible for some defenses which are available under that section. A party to a transaction will be able to defend the allegation that the transaction is voidable under the following circumstances; (i) when the party has become a party to the transaction in good faith (ii) he had no reasonable ground at the time of entering into the transaction to suspect that the company is insolvent or would potentially become insolvent (iii) there would arise no suspicion for any reasonable person and (iv) the party has made good the company with valuable consideration or altered his position based on the transaction. The party defending the voidable transaction should be able to prove all or any of these conditions to the satisfaction of the court. It was

The market mechanism is the only effective way to allocate resources Essay

The market mechanism is the only effective way to allocate resources. Discuss - Essay Example 8). This essay looks into the various aspects of the competitive market economy and analyses the fact that the resources can be allocated most efficiently if the economy operates in a competitive framework. Discussion and Analysis In a free market economy the price and the quantity of the product demanded is determined by the market forces of demand and supply. According to the theory of demand as the price of a product increases the quantity demanded for the product gets reduced. On the other hand, other things remaining constant as the price of a product decreases the demand for the product increases. The inverse relationship between the price and the demand for a commodity gives rise to a downward sloping demand curve. The supply curve for a commodity is however upward rising curve. The equilibrium price and quantity is determined by the interaction of the demand and the supply curves (Samuelson and ?Nordhaus, 2010, p. 57). This market mechanism has been explained with the help of the following diagram. Figure 1: Interaction of Demand and Supply Source: Besanko and Braeutigam, 2010, p. 36 In the figure it is seen that the initial demand curve id D1 and the initial supply curve is S. Now the market will reach equilibrium at the point A where the quantity demanded for the product would match the quantity supplied. At this point the quantity demanded would be Q1 and the quantity supplied would also be Q1. The price at which the market equilibrium would be reached is P1. This price is neither determined by the buyers or the sellers but the combined forces of the demand and supply existing in the market. Now suppose the market demand for the product increases from D1 to D2, with the same level of market supply the price of the product will increase to P1 and the quantity demanded of the product would increase from Q1 to Q2. Hence the new market equilibrium would be changed to B. At the point B the quantity demanded would match the market supply. The demand curve would shift to the right due to a variety of reasons. When the income of the individuals increase the disposable income of the people would increase and it would lead to a rise in the demand for a particular product. Similarly the supply of products may also decrease due to a variety of reasons. When the price of the raw materials increases the firms are not able to supply the product at the same cost. Thus the supply decreases. As a result the equilibrium price and quantity would undergo change. Figure 2: Shifts in the Supply Curve Source: Besanko and Braeutigam, 2010, p. 36 In this figure the reduction in the supply of the commodity pushes the supply curve to the left. The quantity supply reduces from Q1 to Q2 but the price increases from P1 to P2. Therefore at the same level of market demand the new equilibrium is formed at the point B. The demand and supply forces would act naturally in a free market where there are no restrictions by the government. This is true for the perfect ly competitive markets where none of the buyers or the sellers has the power to control the price in the market. Therefore a competitive market is one in which there would be large number of buyers and sellers (Petri, 2004, p. 77). The sellers would have their aim to maximise the profit of