Research on the Australian Education Export Industry Essay

Executive Summary The following report provides a detailed analysis of the four sectors in the education industry in Australia, which are: Higher Education, Vocational Education and Training (VET), English Language Intensive Courses for Overseas Students (ELICOS) and the schools. The report starts interpreting trends from the industry in Australia, analyzing numbers of enrollments and commencements of students in each sector, as well as their nationalities. With these numbers we have an overall idea of the scenario, which shows that Higher Education is the Over Performing sector, followed by ELICOS, VET and schools. A second stage of the research is the PESTEL analyze, which observes the Political, Economical, Social, Technological and Legal conditions of Australia, with the conclusion that Australia has a stable government, strong economy and high currency, great quality of life, invests widely in technology and gives incentives to international students to come to Australia. The data provided by PESTEL helped with the SWOT analyzes of the industry and sectors in Australia. The findings shows opportunities manly in students that progress in more than one course in Australia, which already lead us to consider ELICOS as a good sector to invest. After the secondary data gathered, a qualitative research was created and is here presented showing that all the interviewed international students are having a positive experience in Australia and more than half would enroll in a different course after finishing the current one. As a result of the findings, ELICOS course was pointed as a better option of investment – since higher education has risks of high costs and perceived quality. Private institutions offering ELICOS and VET come up as an even better choice, since almost one quarter of international students progress from ELICOS to VET. New South Wales is recognized as a better location for investment, since the majority of students choose that state as a destination. A few schools offering ELICOS and VET were identified as an option for investment, however a more detailed analyses of their internal data would be necessary to point out with certainty which one would be the best option. 1. Introduction 1.1 Background Students from all around the world choose Australia as a study destination, wishing to gain a top-quality education. Each year, Australia becomes even  more popular, with many new international students enrolling in courses around the country. In 2013, 526,9321 international students enrolled in education programs in Australia, representing a 2.6% increase over 2012. Most of the international students in the country are studying in the Higher Education sector, followed by the Vocational Education and Training (VET) sector, the English Language Intensive Courses for Overseas Students (ELICOS) sector and the schools sector. 1.2 Purpose of Report The aim of this report is to research about the education export industry in Australia. The report was commissioned by the Group April with the aim to analyze the trends in the following education sectors: VET, ELICOS, Higher Education and Secondary School courses. The Market Trends will be interpreted in order to identify their impact on the education sector, as well as potential opportunities and threats to the industry. 2. Interpreting Market Trends For the purpose of this research we will analyze the number of international students commencements (number of students starting a new course) and enrollments (enrolling in a course) in the country. According to Australian Education International, the total value of commencements and enrolments students has been growing steadily in the last ten years. We will analyze the data the number of international students from all sectors from 2010 to 2013. The following chart shows the summary of commencements from 2010-2013. Chart 01: International Students Commencements from 2012 to 2013 Source: http://www.austrade.gov.au/Education/Student-Data/2013/ In addition to that data, we also have the table below, comparing the number of commencements and enrolments per year and course: Table 01: Enrolments and Commencements from 2012 to 2013 With the data provided, we can see that in 2013 Higher Education Sector ranked first by volume of commencements and enrolments. VET had the second  largest volume of enrolments but third in commencements. ELICOS ranked second in volume of commencements, but third in enrolments. From 2012 to 2013, the number of commencements in Higher Education increased by 8.1%. The ELICOS commencements also registered 21% growth in the same period. The VET sector commencements have been declining in the last 4 years, but had only a minor decrease from 2012 to 2013 (0.1%). Schools accounted for only 2.9% of commencements, declining steadily in the past years. It is possible to notice that even though Higher Education is the over performing sector, ELICOS is also gaining more relevance over the past years. The Chart 01 shows that VET sector has been declining over the years. When considering number of enrolments for each sector, the top nationalities differ between the categories. The Australian Government also provides the following data: Higher Education enrolments: China (39.9%) and India (7.2%) VET: India (21.5%), China (10.5%), Republic of Korea (7.3%) and Thailand (6.6%) ELICOS: China (25%), Brazil (8.7%) and Thailand (7.9%) Schools: China (46%) and Vietnam (10%) The top five nationalities present in number of enrolments in 2013 contributed to 52.1% of the total, which were: China (28.5%), India (9.3%), Republic of Korea (5.2%), Vietnam (4.9%) and Thailand (4.1%). When looking directly at students visa granted, the last five years have also showed a majority of Chinese, Indians and Koreans students, differing only in the last two countries. The chart below shows the student visa applications granted by the top five countries of origin: Chart 02: STUDENT VISA APPLICATIONS GRANTED BY TOP FIVE COUNTRIES OF ORIGIN Source: http://www.abs.gov.au/AUSSTATS/abs@.nsf/Lookup/4102.0Main+Features20Dec+2011 Accessed on 29/10/2014 As per the chart above, China represents the majority of international students, with approximately 50 thousands student visa granted in 2011. China also represented in 2013 the majority numbers for all education sectors. Also, over 90% of Chinese ELICOS students went on to do further study in Australia in 2012.2 The Australian Financial Review points out that  the most likely reasons why Australia became a destination for so many Chinese students can be due to the increase of the middle class of the country and the geographical proximity to Australia. 3 India still represents the second largest group of international students, even after drastically dropping from 2009 and on. The plunge on numbers came specifically after a series of attacks on Indian students in 2009.4 South Korea comes in third in the represented numbers of granted visa, followed by Malaysia and Brazil. There is also a strong relationship between the Australian Dollar rates with the number of students’ commencements per year. The table below shows the number of students’ commencements versus the average rate for AUD/USD Dollars. Year It becomes even more noticeable when represented in a chart how one factor is influencing the other. The lowest the Australian dollar rate is, the higher the number of commencements becomes. On the other hand, as the Australian dollar rate increases the commencements decreases proportionally. The following data can be seen in the next chart: Chart 1.1. – Students Commencements vs Australian Dollar Rates 2.1Over Performing and Under Performing Sectors Analyzing the numbers of commencements of each area in the last 4 years, it is possible to say that the three Over Performing sectors would be: Higher Education, ELICOS and VET. The three Underperforming sectors are schools, VET and ELICOS. Compared to the three other sectors, the Schools sector is small and has been declining over the past years. To proceed with the study of which sector would be more interesting to invest on, a PESTEL (Political, Economical, Social, Technological, Environmental and Legal) and SWOT (Strengths, Weakness, Opportunities and Threats) analysis will be made. 2.2 PESTEL Analysis: The following analysis intend to identify the Political, Economical, Social, Technological, Environmental and Legal Australian conditions, in order to provide enough data to clearly present its Strengths, Weaknesses, Opportunities and Threats afterwards. Political The Australian Government is a constitutional monarchy, being under a federal system. For that reason, Australia can be considered a stable country. The Government also has innumerous initiatives regarding international students, such as the International Students Strategy of Australia. With those initiatives, Australia’s Government acknowledges the importance of international students for the country and seeks to protect the country’s reputation for high-quality education and for being a safe, welcoming and culturally diverse place to live.7 Economical The Australian economy has experienced continuous growth and also features contained inflation. It is one of the largest capitalist economies in the world with a Gross Domestic Product (GDP) of US$998.3 billion (2013 est). The service sector dominates the economy, accounting for about 70% of GDP and 75% of jobs. 8The unemployment rates are considered low (6.1% in September of 2014), however the part-time employment has decreased recently.  Those numbers may affect international students, since they can only work on part-time contracts. The Australian Dollar Currency has been maintained stable over the past few years, valuing 0.88 US dollars in October 2014. A strong currency is a factor of great impact on international students, since the exchange rates may affect their decision. 9 Social Australia population is composed by a majority of white people (92%), followed by Asians (7%) and aboriginal and other (1%). The official language is English, which is one the main reasons for international students to choose it as a destination. It’s considered a welcoming country for people from overseas. Australia is also known per its high quality of life, safeness and great education institutions. Environmental The weather conditions and the natural landscape in Australia are positive aspects of the country when seen by students. Travelling interest has a major impact on students’ decision. Technological Australia is a modern country that invests in constant evolution of its Technology. The Government invests heavily in national science agencies, as well as providing about AU$2.5 billion to Universities10 to support research and research training activities, and this is complemented by research funding from the private sector, non-profit organizations and state governments. That factor might influences in the Higher Education numbers for international students. Analyzing the worldwide situation, we can also point out that the technological changes have been providing advances in several sectors, as well as education. With the improvement in technological resources and Internet speed, a wide variety of courses online are being offered – even by top quality know universities. That factor might also have great influence in students’ decision. Legal There are many requirements for applying to a student VISA in Australia,  which had also been in constant change throughout the last few years. Most of the Government reforms were introduced in response to the Knight Review (2011) of Australia’s student visa system, such as the streamlined visa processing and new arrangements for post-study work visas. At the same time that changes came to facilitate the students’ application, it can give a negative image to international students, since there’s always a risk of changes in the law if there’s an interest to renew their VISA. 2.3 SWOT The following SWOT analyses will provide data about the education industry as well as the sectors in Australia, pointing out its Strengths, Weaknesses, Opportunities and Threats. Strengths High-quality education: Australia is a worldwide destination to many students by its top quality of education. Australia’s English language teaching is mainly highly regarded worldwide. Permission to work and study: The student visa permission to work up to 40 hours fortnightly is a decision factor by many students that have to work while studying. Proximity to Asian countries: Considering that many Asian countries look for English speaking countries to study, Australia stands out for its proximity to the continent. Highest quality of life: Australian has the highest quality of life in the world, according to the OECD Better Life Index organization, analyzing the categories: income, housing, jobs, community, education, environment, civic engagement, health, life satisfaction, safety, and work-life balance. Tourist VISA and working Holiday students: Many international students come to Australia through tourist visas or working holyday visas, being allowed to study ELICOS to up to 14 weeks in the first case and 4 months in the second one. That gives an extra advantage for this sector, since they are easier to apply to. Weakness VISA requirements: Australian VISA requirements changed recently in 2012, accepting the recommendations of Knight11. Event though it brought positive changes to facilitate the VISA process, the constant changes in VISA requirements might make long term students consider if any changes will still come up. High price and competitors’ countries quality: Australia was  pointed by a HSBC report as the most expensive destination for higher education for international students. Besides that, when it comes to perceived quality of higher education, it was ranked in 5th by Chinese parents (staying behind USA, UK, Germany and Hong Kong). 12 Opportunities Growth in numbers of higher education international students: a new British Council report has predicted that the number of international students of higher education will reach 3.8 million by 2014.13 Strengthening of the student VISA from Canada and USA: With modifications in student VISA requirements of competitors’ countries, Australia comes up as an option for new students. Major events in the country: Major events are frequently being held by Australia, calling international attention and being an extra reason for students to choose the country as a destination. The Commonwealth games, which will be held in 2018 in the Gold Coast, might have a big influence in student numbers, especially for short-term courses (such as ELICOS). Students’ progression from different sectors: Many students progress from ELICOS to higher education or VET, most likely had been on a package arrangement where the ELICOS study was a precondition for undertaking the next course. 14 Threats Changes in New Zealand student visa: The recent changes in New Zealand student visa now allows more English language students to work part-time, becoming a even bigger competitor to Australia as an destination.15 Crimes against international students: Any crimes and racist acts against international students have an impact in international students numbers. With the murder of four international students in Brisbane since November of 201316, the exposure by national and international media can damage the safeness image of the country. 3.0 Approach for research After our secondary research about the education market in Australia, a qualitative study was made with international students in order to find out the reasons and influences that made them choose to study in the country. An  online questionnaire was made and answered by 18 students. 3.1 Qualitative Analysis The nationalities interviewed were: Brazil, USA, Chile, Spain, Italy, Czech Republic and France, from which 61% were Brazilians, 11% Italians and 28% of each other nationality. Chart 03 – Nationalities Half of the students are enrolled on ELICOS courses, one third on VET and 17% on Higher Education. None of the interviewed is studying on secondary school. The schools of study vary between the following: ILSC Brisbane, Shafston, Queensford, ALS, Queensland Academy of Technology, TAFE, Bond University, University of Western Australia, Australian College Sports and  Fitness, Hetc Harvest, VIVA College and Melbourne University. All the interviewed students declared that their experience in Australia has been positive so far and 67% would enroll for another course in the country and consider living in Australia permanently (from which 22% are current ELICOS students). More than half of the students (56%) considered studying in a different country before choosing Australia, being mentioned the following: New Zealand, Canada, USA, Ireland, South Africa, UK and Germany. An open question also asked the students to describe briefly why their experience in Australia has been positive or negative, and it was mentioned the different cultures/nationalities present in the country, opportunity to meet new people, personal and professional growing, independence, improvement of English, great quality of life, good weather, new challenges and travelling (Refer to appendix 1 for further details). 4.0 Recommended Sector The following section will explain which sector have been identified as the best business opportunity, based on the interpretations of marketing trends and qualitative analysis sections of this project. Based on the report findings, we can see that two sector are in great advantage: Higher Education and ELICOS. While Higher Education has been the sector over performing in the last years, the forecast for that sector may  not be favorable – especially due to the competition of different countries that offer lower costs of studying and are increasing high-quality study reputation. To open a new University or other Higher Education school would be a great risk for investors, considering that it would take time to build their brand awareness and reputation. More than that, the costs for buying an existing private institution would be much greater in that sector. The second over performing sector was considered ELICOS, since the numbers of commencements and enrolments have been increasing constantly. When it comes to ELICOS, it is also an entry door to other courses in Australia – as many students that proceed from ELICOS to VET or Higher Education. ELICOS students may also be on student visas (currently around 60%) or visitor, working holiday or other VISAS (around 40%).17 ELICOS sector is also divided in a wide range of courses, where as the main courses offered in Australia are: General English, English for Academic Purposes, Exam Preparation Course, English for Special Purposes, English for Teaching and Study Tour. These options are closely aligned to the need of the students, attracting all sorts of international students. 4.1Competitor Analysis ELICOS courses are provided in a wide range of institutions and sectors. According to the Knights review (2011), the ELICOS activities occur in almost all parts of the international education sector: â€Å"Unpublished National English Language Training (ELT) Accreditation Scheme (NEAS) research shows that of the 269 active providers in 2010, 100 were stand†alone ELICOS providers, 99 were private VET providers and another 18 were publicly owned VET providers, 32 were universities and the remaining 20 were schools. The numbers of ELICOS students in the different providers also varied significantly. 24 providers had a capacity for 50 or less students. 81 providers had a capacity for between 51 and 150 students. But more than half of all registered providers, 164, had a capacity for more than 150 students at a time.† (KNIGHT, 2011, p. 64)18 Considering that data, it is a better investment to buy an existing institution than opening a new one, since there are a wide number of competitors already. Since the majority of students choose to study in New  South Wales, as we can see per the chart below, the best investment would be in NSW state. Chart 07 – International Student Enrolments & Commencements by State and Territory (2010) Source: http://www.abs.gov.au/ausstats/abs@.nsf/Lookup/4102.0Main+Features20Dec+2011 – accessed on 30/10/14 The private VET providers that also offer ELICOS as an option can be considered a good investment option, since AEI researches show that 23% of ELICOS students in Australia eventually progressed to VET. 19 New South Wales Government also tells that Private VET colleges and institutions are very popular with international students, with the majority of international students in NSW studying at a private college.20 That data confirms that a private ELICOS institution that also offers VET will be a good choice. The following private schools in Sydney stand out as options that provide ELICOS and VET courses: ILSC Education Group: ELICOS and VET provider Since the number of students and financial reports of each institution are not publicly available, there isn’t enough data to point with certainty which school would be a better option for investment. However, a more detailed analysis can be made as a secondary step of this report. 5.0 Conclusion This report objective has been centred on identifying the over performing  sectors on the industry of education, which we believe have been successfully reached. The data provided will give be used by the Group April to decide which sector is the most promisor. We would recommend Group April to closely look at potential schools with extensive knowledge and good reputation, besides being costly competitive and well located. Finally, throughout the whole project, attention was maintained to remain realistic based on the investor budget and interest in industry. The findings of the interpreting trends section as a whole were summarized in a SWOT analysis table to facilitate its understanding. Considering the overview of the over performing sectors the best choice considered for investment was the ELICOS sector, since is growing at a very good pace. SLIC will remained opened for further discussion of the content of this report, as well as for conducting a second phase of research. Question: Describe briefly why did you found your experience in Australia positive: Student 1. â€Å"I had a substantial improvement in my English level at the same time I could know different cultures (not just Australian) and met many interesting people.† Brazil, Male, 21-25 years old, ELICOS Student Student 2. â€Å"Because there are many differences between Brazil and Australia. Most of the social problems that we have in Brazil are almost nonexistent here. The quality of life is extraordinary.† Brazil, Male, 26-30 years old, ELICOS student Student 3: â€Å"Positive: Friendly citizens, Weather, Good opportunities of work† Brazil, Male, 26-30 years old, ELICOS student Student 4: â€Å"To be completely independent, Know about new cultures; Learn new languages† Chile, Male, 26-30 years old, ELICOS student Student 5: â€Å"Due to the people I met† Spain, Male, 26-30 years old, ELICOS student Student 6: â€Å"Because Australia still giving me a lot of opportunities to grow personal and professional.† Brazil, Male, 26-30 years old, VET student Student 7: â€Å"New experience and challenges, meeting new people, improving my English, travelling† Czech republic, Female, 31-40 years old, ELICOS student Student 8: â€Å"Good people, opportunity to work, grow up by myself.† Brazil, Female, 26-30 years old, VET student

Philippine President Benigno Simeon Essay

Philippine President Benigno Simeon C. Aquino delivered his sixth State of the Nation Address on Monday, July 29, 2015 at the Batasang Pambansa in front of joint session of the Upper and Lower House of the country’s Legislative Branch of Government. Some students will surely give their reaction paper with the Pres. SONA as part of their assignment. The State of the Nation Address (SONA) of President Benigno S. Aquino started at around 4:00 PM (PST) and concluded after two hours and 15 minutes. The SONA 2015 is one of the highly anticipated date of the administration, as the head of state reports his accomplishments and plans for the country. During the entire SONA, the President received a total of .. rounds of applause. 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On education sector, PNoy said that Alternative Learning System helped to ensure that even indigenous peoples and street children are not left behind. The requirements for the K to 12 programs – backlogs of 66,800 classrooms, 145,827 teachers, 73.9 million textbooks already provided. For TESDA program of the government, studies show that 71.9% [of TESDA graduates] found employment right away, compared to the 28.5% recorded before. Health and Social Welfare: Around 89.4 million Filipinos are already member of the Philhealth program of the national government and beginning in 2014, the poorest 40 percent of the population were treated in public hospitals for free. In social welfare, PNoy said that in the Sitio Electrification program, 25,257 sitios out of 32,441 were served. Aviation & Transportation Sector: In aviation, ICAO lifted the safety concerns it imposed to the Philippines in 2013. The EU Air Safety Committee lifted the travel ban in all local carriers. For the unresolved problem on Metro Rail Transit (MRT), Aquino said plans of purchasing of new MRT train coaches. Armed Forces of the Philippines: In the Armed Forces of the Philippines (AFP) modernization, the government has plan to buy 2 more C-130. There will be additional 6 landing craft utilities and 3 C-295 medium lift transport. President Aquino mentioned the PNP’s project such as their Capability Enhancement Program of which 2,523 patrol jeeps and 577 utility vehicles were purchased. Important Bills and Legislations: Pres. PNoy wish to pass the Bangsamoro Basic Law and his interest on the controversial Anti-Dynasty Law which received the loudest applause from SONA expectators. When he mentioned his interest on Anti-Dynasty Law, it received the loudest applause from SONA expectators. â€Å"Panahon na para ipasa ang isang Anti-Dynasty Law.† PNoy also thanked Congress and Senate for other bills and acts such as Philippine Competition Law, Sin Tax Reform Act and Responsible Parenthood Act. The president also thanked officials of the government for their contributions, sacrifice and wellspring of inspiration to the nation. He lauded Interior and Local Government Secretary Mar Roxas for his contributions to Daang Matuwid. Pres. Aquino ended his speech with the following statement â€Å"Simula pa lang ito. [Palakpakan] Nasa unang yugto pa lang tayo ng dakilang kuwento ng sambayanang Pilipino. Sa gabay ng Panginoong Maykapal, at sa patuloy nating pagtahak sa Daang Matuwid, lalo pang tatayog ang mga pangarap na maaabot natin. Lalo pang lalawak ang kaunlarang tinatamasa natin. Nasasainyo pong mga kamay ang direksiyon natin. Magandang gabi po sa inyong lahat, maraming salamat sa inyong lahat po.† Reactions to President Aquino’s SONA: President Aquino missed so many important topics during his last and final SONA, the entire SONA centered on his administration’s accomplishment and giving credits to his partners on his â€Å"Daang Matuwid.† Some of the important issues that the President failed to mention during his sixth SONA are the following, the controversial PDAF issue, the Mamasapano Massacre, the expansion of Chinese territories in the West Philippine Sea and the Freedom of Information Bill to name a few.

Newspaper article about possible war with Iraq Essay

The newspaper article I have written is about the possible war in Iraq which expressed my opinion. It is an article that is totally against war and is to inform the readers the main objections by persuading them that it is right not to have another war. I’m sure I am not the only one opposed to war in Iraq! The newspaper was aimed at teenagers and students alike. I felt that it was much easier to aim at this age group because I am a student myself so it’s like talking to your friends instead of addressing for example an older generation. The main points I want to get across were the American push for war in Iraq is illegal without UN backing, the Iraqi people have suffered enough, and the last thing they would want is another war. In this article, I am sometimes asking the reader a rhetorical question. Questions like ‘Why would the training be so intense if there wasn’t a war? ‘ It seems a bit obvious answer of yes because there were around 150,000 soldiers in the region at the time. As you read throughout, it seems like I ask the readers some question. I ask these questions because I want them to think about certain topics like America. For this topic I asked ‘Would you believe them? ‘ when I was referring to America is saying Iraq has weapons of mass destruction. The article was aimed for teenagers and students so most of the article’s language was easy to read and understand. The sentences were short and words were basic because if I put it too technical, they might not carry on reading it. I am a teenager myself so writing something aimed at them was easier than if I was writing for say a middle aged audience. You could say that it is more of a tabloid newspaper than a broad sheet one, this article is free and would be handed out to students who could pick them up from the college library maybe? The main theme for this article is against another war in Iraq so this is why I used in big and bold letter that reads out ‘Don’t attack Iraq! ‘ I did this so that it can catch the reader’s attention too. For example if they walked past and saw the title, they would be more likely to pick it up and see what it is about! In order not to confuse the reader, I have split the article in sections, the main article is about Iraq but some of the other sections include other threats, real reason etc. This layout makes it more easy to read and easier to understand than if I put everything under one subtitle. Plus I want people to know that behind the scenes America is trying something which they may not know so this layout would suit me getting that message across. When I did the first draft and got it handed back, I realised I made some mistakes with me going off the point. The main point was not to attack Iraq but I sometimes talked about other countries. This might have confused the readers and one more thing is that on the title it reads ‘Making you be heard’ but this isn’t true as I am expressing my own personal opinions so I changed that title to ‘Getting the Point Across’ instead. The article improved much from the first draft I did, the sentences were longer and had around 1600 for the last one which was way over the limit so now I have nearly halved it. I also made it more newspaper like because the last design I had lacked an attractive heading. The structure of this article was made to set out more like a newspaper as possible. I gave the newspaper a big title along the top, the writing was all in columns, some relevant pictures were included and so were the dates and price. I gave the reasons not to attack in bullet points at the beginning and rounded it all up with a conclusion which was called ‘Real Reasons’. The pictures used were there to make the newspaper look more colourful instead of having just text in there. One of the pictures was some soldiers but you could only see their shadows with rifles in the arms which look un-welcoming, another is a picture of Osama Bin Laden. He is the most wanted man on Earth and a lot of people recognise him so the article would stand out more. Word count: 772 without header and footer

The major failing of Situational Crime Prevention is that it does not Essay

The major failing of Situational Crime Prevention is that it does not address the root causes of crime. Discuss - Essay Example Therefore, SCP was developed based on the notion that crime is expected reduce considerably if focus shifts to minimizing offense opportunities, improving chances of criminals being caught, reducing rewards for perpetration while justifications for offending are also made less plausible. These perceptions of the ability of SCP to minimize the overall level of crime in the community is what informs a number of visible initiatives such as residential or commercial lighting to reduce dark areas around buildings, increasing the number of bus terminals to increase pedestrian traffic, and development of high density housing which promote interaction therefore reducing anonymity in the neighbourhood (Wortley, 2001). SCP approach takes crime prevention away from being the sole responsibility of law enforcement departments which in most cases focuses on criminals to focusing crime prevention on setting and context of crime. The control in SCP initiatives is not taken by the criminal justice agencies since the implementation can be undertaken through a partnership of all relevant community institutions that might include schools, municipality authorities, health centres, transport stakeholders, private enterprises, communication departments and entertainment facilities. SCP m ethods make criminal conduct difficult since the targets become inaccessible to criminals through the application of various techniques that are based on the manipulation of different settings. Application of technology is also a strong contributor to the success of SCP since initiatives such as installation of street lighting and alarm systems in and around business and residential areas have greatly lowered crime rates in different areas (Clarke, 2009). What makes SCP approach to crime distinct from other approaches is its theoretical framework is based on a practical focus to handling crime. Since the introduction of SCP, the

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Corporate Finance - 03 - Assignment Example The study will be conducted for five days from 23rd December 2014 to 27th December 2014. The equipment is needed in January 2015. The estimated transportation cost is AED 5 million. The company intends to spend the remaining AED 50 million towards the equipment purchase. The equipment is quoted to cost  £ 860,000 and â‚ ¬ 1,090,000 in pounds and Euros respectively. The study of the currency movement will aid the purchase at a lower price. Therefore, this assignment presents a five-day exchange rate in a table format showing the value of AED 50 million, for each day, in both the currencies (Pounds and Euros). For each of the five days, the cost of the purchase and the impact of the decision are presented. Last, a report that provides justifications that the decision made is favourable to the company also is provided. For the purpose of purchasing the equipment, the currency used for the transaction is the Euros. The table 3 below shows the cost of the equipment in AED based on the exchange rates observations presented in table 1 above. The equipment is quoted to cost â‚ ¬ 1,090,000. Therefore, after incorporating the exchange rates, the costs are below. From the table 3 above, the company will spend (1,090,000/0.223548) = AED 4,875,910 to purchase the equipment on the first day. â‚ ¬1,090,000 is the price quoted in Euros. In order to determine the cost of purchasing the equipment on day 1, the quote price is divided by the exchange rate (AED/ £) on that day. Recapture that AED 50 million was allocated for the expenditure. Therefore, by making the decision to purchase the equipment, the company will save (50,000,000 – 4,875,910) = AED 45,124,090 for the reason that the equipment will be worth less than the planned cost (XE Live Exchange Rates, 2014). The company’s capital expenditure will be significantly reduced, thereby increasing its financial flexibility (ability to pursue other profitable investments). The

UK Economic Indicators Assignment Example | Topics and Well Written Essays - 4000 words

UK Economic Indicators - Assignment Example Typically, macroeconomic indicators are divided into several types according to their significance for exchange movements, as it affects the volatility of the market at the time of publication index. The overview of macroeconomic indicators Macroeconomic indicators cover economic development, point to economic growth or decline. Therefore we can say with certainty that the output of major data can lead to significant and lasting movements in exchange rates. These are important data: Nonfarm Payrolls, GDP, Industrial Production, CPI, PPI and other macroeconomic indicators. There is a calendar of economic indicators and the most important events in the life of the individual states (with specific dates or approximate time of their release). These events market is ready. Emerging expectations and forecasts of the value of an indicator can be and how it can be interpreted. The output data can lead to sharp fluctuations in exchange rates. Depending on how market participants apostrophe an d interprets a particular indicator, the rate can go as one and the other side. This movement can lead to a strengthening of an existing trend of course, its correction or the beginning of a new trend. Or that the outcome depends on several factors: market conditions, economic status of the host countries examined rates, preliminary expectations and sentiment, and, finally, the value of a specific indicator. The indicator of average earnings growth is calculated by taking into account earnings growth over the past three months (taking into account all payments that were actually made and not "accrued"). This is a good indicator of future inflation, as rising wages, if it is not offset by productivity growth is the cause of rising prices. Average earnings growth is one of the defining indicators, according to which the Bank of England determines the level of interest rates. This indicator has a significant impact on the market. The indicator of producer output prices (PPI output) is defined as a change in the level of wholesale prices of goods in the industry. It is a strong indicator of inflation that reflects the inflationary pressures on the economy by the manufacturers (the increase of prices in "output" may not affect the inflation index, as it can reduce the costs in the trade). The price of food, alcohol, tobacco and fuel (prices for these products is very variable) are not taken into account. The indicator of producer input prices (PPI input) is defined as the change in the price level for parts and semifinished products in the industry (the rise in prices may not be reflected in the inflation index, as it can reduce the costs in the manufacturing process). The indicator of retail price index determines the change in the price level in the basket of consumer goods. The indicator of inflation is the Retail Prices Index, excluding the interest payments on loans to purchase real estate (RPI-X). The retail price index is calculated by a single formula. If t he growth of rate exceeds the planned value of the index, usually the Bank of England raises interest rates. The indicator of CBI industrial trends overviews (in the form of numbers) the business sentiment of businessmen about the state of the manufacturing sector. The review has no direct connection with the real prospect of economic development. The indicator of CBI distributive trades overviews (in the form of numbers) the business sentiment regarding business trading areas. Review has no direc

Is there too much localism or not enough in our metropolitan areas Essay

Is there too much localism or not enough in our metropolitan areas today - Essay Example Particularly, the government as representative of the people ought to offer solutions to the problems that are facing its people. As such, the question as to the necessary policy concerning localism and implementation of the same will be featured in this paper. It is hard for some people to make out the difference between Localism and which concepts are involved in the metropolitan area governance. Localism is the belief on the existing system of a greater number of fairly small governments, wielding authority over such serious issues as land use guideline, local levying, and the financial support of the municipal services that ought to be preserved. Regionalism, on the other hand, seems to connote centralization and against the decentralization represented by the localism. America is dominated by metropolitan areas. Regionalism does not only oppose regionalism, but it is localism regional extension. Localism may also be based on the set of row as to the function of the local governments in endorsing the governmental efficiency, democracy and the public (Tam et al., 2002). In the modern metropolitan areas, economic, social and ecological local areas are regularly prevalent. The concerns on the efficiency, democracy and the community should lead to a shift in power from the existing localities and delegate it to the new processes, structures or organization that can support the decision making on behalf of the area. It can, therefore, be concluded that regionalism is the localism of the metropolitan regions. A localism is also a means of protecting the interests of the people who get benefits from the existing government structures (Gregg, 2003). Localism involves the shift of the power from the government to the local governments. The transformation is not only economic, but also social in nature. Localism makes people appreciate and identify with their new neighborhood and their

E-commerce Initiative by Competing Firms Term Paper

E-commerce Initiative by Competing Firms - Term Paper Example The researcher states that commerce is often a basic economic activity that mostly involves trading or the buying and selling of goods and services. During the early days, businesses were mostly conducted face to face for example a customer would enter a bookshop, examines the books, and pays for them. In order to fulfill the customer requirements, the bookshop needs to carry out other transactions and business functions such as to process the payment. However, with the advancement in technology whose aim is to cover a larger market segment, the question is whether the commercial transactions and business functions can be carried out electronically in a more successful manner. E-commerce is therefore an important activity a firm can venture into if it wants to be successful. Thus in E-commerce there is no paperwork or personal contact. In order for a firm to be successful, it must look back to what used to be done to the traditional business, how management used to operate in those t imes and the information technology that was applied. Moreover, the company needs to evaluate its business environment and other factors such as corporate strategies, her business structure, and the resources available for the business. Ecommerce has lately changed the economy and affecting most companies on how they transact their business. Today, it is clear that no company can ignore ecommerce as it has been a more effective method of doing business and more convenient to even customers. Business strategy is a long term plan on how a given company will get enough profit to keep it in operation. However, this can be possible if the given company if the given ecommerce strategy would be able to implement the given activity in the most efficient way. Ritesh believes that for a successful ecommerce strategy, the company must consider their relationship with the consumer. Most often, the business owners neglect their relationship with the buyer and in so doing, they would be losing cu stomers. Therefore, good customer service online goes hand in hand to retaining customers as the sole aim of a business is to make a profit that depends on retaining and acquiring new customers. Moreover, supply chain management is also essential in a successful online business as it ensures good communication between the business and the consumer (98). The four companies use ecommerce which has made them take advantage of tools and techniques being provided in the ecommerce websites such as the shopping cart, use of video that are more cost effective and easier to implement by the organization. However, they have adopted in the use of business strategies due to the much competition amongst themselves. Safaricom, Zain, Orange, and Yu mobile service providers have come up with different strategies in order to gain a competitive edge over the other. 1.1 Costs The four firms located in the same environment have mostly been successful in Kenya where they have looked for ways to gain a c ompetitive advantage over them. This strategy aims at a firm becoming the lowest production company in a given industry. However, it is never an easy way so it calls for nice planning on how to do it. In the past companies often had to deal with the issue of competition with either increasing their sales or by decreasing cost in order to

The Technological Innovations and the Business Strategy of BBC Essay

The Technological Innovations and the Business Strategy of BBC - Essay Example Over the years, the company grew from a single person entity to one that employs people in the thousands and spans across the globe in its operations. (Briggs, 1985) The BBC is well known for its record of impartiality and independence in reporting and coverage of news events. Though there has been some criticism in the recent past about the way in which it has handled some events, nonetheless, on the whole, the record of BBC has been relatively unblemished. The BBC is a pioneer in terms of launching a global news channel covering almost all regions in the world. To quote from the profile of BBC on its website, â€Å"The BBC is the largest broadcasting organization in the world. Its mission is to enrich peoples lives with programmes that inform, educate and entertain. It is a public service broadcaster, established by a Royal Charter and funded by the license fee that is paid by UK households. The BBC uses the income from the license fee to provide services including 8 national TV channels plus regional programming, 10 national radio stations, 40 local radio stations and an extensive website.† (BBC, 2010) The business strategy of BBC is relatively straightforward. The primary revenue earner for BBC is through its license fee that averages around 145 GBP per year per household. This is the fee paid by individual households to receive the broadcast television in the UK. Though there is no fee to own a television in the UK, there is a fee to receive the cable TV. However, the world service of the BBC is funded by government and as the website puts it, â€Å"BBC World Service broadcasts to the world on radio, on TV and online, providing news and information in 32 languages. It is funded by a government grant, not from the license fee.† (BBC, 2010) The technological innovations that have been introduced by the BBC are to do with the re-launched news website that receives visitors in the millions. The BBC claims the site to be "Europe's most popular content-based site" and states that 13.2  million people in the UK visit the site's more than two million pages each day.

Reliance on National Test Scores in Admissions Essay

Reliance on National Test Scores in Admissions - Essay Example It is perfectly clear that people differ in the way they perceive and process information, and for some students, it may be difficult to deal with SAT and ACT just because they are presented in the form of tests. Also, depending on a person's temperament, time of information processing changes as well. What is more, while some people are able to deal with pressure they face while completing any important task, such as testing, others are more exposed to stress and cannot complete tests properly even though they have enough knowledge to do it. External factors depend on the character of the tests, on those who compose them, and on the society as a whole. For instance, it is believed that the results of these tests highly depend on a class a student belongs to: the richer the students' parents are, the higher are his / her scores. In addition to this, taking into account high stakes, people try gaming standardized tests, and quite often, they do it criminally. Therefore, there is no gu arantee that a student is as good at studying as his / her scores show. The second argument that explains irrelevance of standardized tests is that these tests lack content validity. Content validity is a very important characteristic feature standardized tests should have. It is defined as the extent to which a test represents the content of an area that is measured. SAT and ACT do lack this characteristic feature. The matter is that they leave out a significant portion of material covered while studying.

Business Communication Coursework Example | Topics and Well Written Essays - 500 words

Business Communication - Coursework Example Brian does not give any solid reason why the employees should sign the company policy manual electronically. Erika, on the other hand, pinpoints that having the employees sign the policy on a paper form would help the company keep better records. Therefore, employees should sign the paper form policy so that the company can keep a better record unless Brian proves that the company will still keep better records when the employees sign the manual electronically. The management should recommend the use of the new uniforms because they are preferred by the majority of the employees. Employees in favor of the old uniform are only two while all the others are in favor of the new uniforms. Moreover, the new uniform is said to offer a wide range of options, unlike the traditional uniform. The best solution to the disagreement between the two management team members can be solved by introducing a policy that blocks websites such as online game, pornography, and shopping sites. The management needs to consult IT experts who would help in blocking such websites. However, banning personal e-mail totally would be a primitive action.The assistant manager should understand that there is no way an assistant manager can represent the senior manager not unless the senior manager is committed elsewhere. The assistant manager should give the presentation to the senior manager and help him or she understands it in an effective way. Assistant managers are meant to be representing the senior managers.

Staging and presentation Essay Example for Free

Staging and presentation Essay I will be talking about how Shakespeare has shown Richard to be a true machiavel. I will do this by focussing on I.1, I.2, III.7 AND V.3. I will be examining the features of language, staging and presentation.  A machiavel is villainous stock characters, who are practised liars (artful in their deception). This brings delight in their own evil from being a villain. Like Richard III they are cruel political opportunists. Machiavellians also disguise their true colours to stop people finding out how they really are. Richard had to be so evil because he was an enemy of the house of Tudor. He goes through the Tudor family by killing and plotting against them.  I will also look at how Richard uses language to persuade people to get his own way and how staging was very limited in Elizabethan times. Shakespeares theatres had very little scenery, very few props as well. The language used by Shakespeare was very poetic he used a lot of puns and metaphors for e.g. In the deep bosom of the ocean buried.  The basic plot line of Richard III is about a 15th century nobleman who murders his way to the throne in a true machiavellian way stopping anyone that gets in his way, A soliloquy is a dramatic or literary form of discourse in which a character talks to him or herself or reveals his or her thoughts without addressing a listener. Shakespeare sets up Richardss character in the opening soliloquy by that the poetry is written in Blank verse with ten syllables unrhymed lines. He expresses his thoughts out aloud. Richard is totally explicit at all times and does not try and hide his evil nature like a machiavel. The effect this would have on the audience is how evil and how devious Richard is being a self seeking power hungry maniac willing to sacrifice everything to get his own way. Shakespeare shows other characteristics in Act 1 scene 1 in relation to Clarence by lying and manipulating Clarence. He sets out to set Edward IV and Clarence against each other. Richard lies to Clarence by saying We are not safe Clarence we are not safe . This is all a lie . Richard manipulates Clarence to his own favour by being very nice to him.  In this scene Shakespeares language features are used very wisely to get the message across by using Puns. A Pun is a word or phrase with a double meaning. The effect a double meaning will have on the audience is confusion about what Shakespeare is trying to say through Richard whether he means one thing or the other. Language features used in Act 1 Scene 2 shows that language may not always be a necessary instrument of power, but for Richard, it is a crucial weapon. His extraordinary skill with words enables him to manipulate, confuse, and control those around him. Richards skill with language and argument is what enables him to woo Lady Ann.  Shakespeare creates Richards machiavellian spirit by showing 2 sides of him the one side showing a kind and helpful man. The other side a dark political opportunists. The topic of dissembling and disguising ones true identity amounts to an obsession. The effect of rhyming couplets at the end of Act 1 Scene 2. It differs from the rest of the scene by when they talk rhyming couplets are used to manipulate someone it adds an effect of finality, also when they are used it tells the audience that is the end of the scene for example where it says on lines 267 and 268 glass and pass are used at the end of the lines.  Shakespeare stages Act 3 Scene 7 to suggests Richards political opportunism by talking about bastardisation of his nephews to Buckingham. The citizens didnt react to this news and leads to a discussion. Furthering the plot this leads to their dastardly plan where Richard takes advantage of Edward. Showing Richards true colours of his cruel machiavellian ways and people start taking sides Richard sets the scene to give himself the advantage by dressing up as a holy man to get to add appear as a kind person who cares about his nephews but is really playing the part of a machiavellian e.g. the disguise talking about his nephews issues making Richard feel bad but in fact it makes him seem compassionate which makes him look good.  This relates to duplicity of Richards persona and the Elizabethan obsession by Richard disguises to act supportive towards everyone to trick people to think he is there for the well being of the Prince. But in actual fact he is hiding his true colours and feelings, Upon doing this he gains respect from people who havent a clue what he really is up to. This relates to the Elizabethan obsession by they used to love a character who were in disguise in relation to Richard he has 2 identities good and bad one making the play more interesting for Elizabethan people. In V.3 rhetorical figures are used to explore hierarchy making Richard use rhetorical figures by using the art of a machiavellian. To move from propaganda to a machiavellian he is made a bigger and more cruel machiavellian which is more dastardly. He was labelled to of killed the princes.  The use of language tells us how devious Richard is how he doesnt care about others but himself getting what he wants and that is the throne. In doing this Richard is joyful in a true machiavel way. In comparison with God this would upset him by the Natural order I have learned that Shakespeare can be persuasive with the use of language and can create a very intense atmosphere amongst the characters. Take the role of Richard he transformed in to, 2 separate people showing 2 different sides. Using puns helped create an effect as well for example when Richard admitted to Anne that he killed Henry, he tries to say this as sincere as possible and telling her it was her beauty that provoked him to do such a thing. Trying to make Anne feel in control when really he is using his true Machiavellian ways by lying to Anne. The limits of the Elizabethan stage had caused more problems fro Shakespeare this meant he had to be more creative and express as much as possible in language and movement to create the right mood. Very few props meant he had to think of other ideas fro example if blood came out of a character instead of using actual blood he had to be creative and think of other ideas he could use a bright colour clothe to create the same image but in a different way.  The play is still relevant today and the message behind the play is about a man who is willing to kill anyone who gets in his way to get what he wants and in some cases today is true. For example how people trick one another to get their own way is kind of like what Richard done turning his back on the Tudor family to get to the throne. In my opinion Richard is a true machiavel and is a very good one the way he is a sneaky, evil and conniving political opportunists is what he did best. Lying to everyone to get his own way not giving any hints of his quest to become king. He did not once feel the least bit of sorrow for what he done but was delighted in his own wickedness and it didnt matter if he hurt anyone as long as Richard got his own way was all that mattered to him. He was also disguised so people thought differently of him for example when he and Buckingham create the right effect by Richard appearing as a holy men with a Bible in hand. Also he disguises himself as being a good General. By doing all of this Richard has created the right appearance and right image in my mind for being a extraordinary machiavellian.

Implications Of Different Sources Of Finance Finance Essay

Implications Of Different Sources Of Finance Finance Essay This assignment will look at the different sources of finance that are available to a small business or a big company. With each source of finance listed the report will assess the implications that can arise and along with this the report will look at the cost to the business to taking a curtain source of finance. All businesses need short-term finance from the very beginning to start up the business and to cover day-to-day running costs. This provides the business with working capital. However businesses also need long-term capital to help them to grow and expand, and this is paid back over a number of years. Without finance a business would find it difficult to accomplish anything. For my assignment purpose I have chosen two companys they are sainsbury and tesco respectly, source of finance can be define into two ways such as internal source of finance and external source of finance. Source of Internal finace fro both company are as follows: Personal savings: This is most often an option for small businesses where the owner has some savings available to use as they wish. Practically both sainsbury and tesco depends on their savings for source of finance. Retained profit: This is profit already made that has been set aside to reinvest in the business. It could be used for new machinery, marketing and advertising, vehicles or a new IT system. Working capital: This is short-term money that is reserved for day-to-day expenses such as stationery, salaries, rent, bills and invoice payments. Sales of assets: There may be surplus fixed assets, such as buildings and machinery that could be sold to generate money for new areas. Decisions to sell items that are still used should be made carefully as it could affect capacity to deliver existing products and services. External Source of financing: Shares: Limited companies could look to sell additional shares, to new or existing shareholders, in exchange for a return on their investment. Loans: There are debenture loans, with fixed or variable interest, which are usually secured against the asset being invested in, so the loan company will have a legal shared interest in the investment. This means that the company would not be able to sell the asset without the lenders prior agreement. In addition the lender will take priority over the owners and shareholders if the business should fail and the cost will have to be repaid even if a loss is made. There are other types of loan for fixed amounts with fixed repayment schedules. These may be considered a little more flexible than debenture loans. Overdraft: A bank overdraft may be a good source of short-term finance to help a business flatten seasonal dips in cash-flow, which would not justify or need a long-term solution. The advantage here is that interest is calculated daily and an overdraft is therefore cheaper than a loan. Hire purchase: Hire purchase arrangements enable a firm to acquire an asset quickly without paying the full-price for it. The company will have exclusive use of the item for a set period of time and then have the option to either return it or buy it at a reduced price. This is often used to fund purchases of vehicles, machinery and printers. Credit from suppliers: Many invoices have payment terms of 30 days or longer. A company can take the maximum amount of time to pay and use the money in the interim period to finance other things. This method should be treated with caution to ensure that the invoice is still paid on time or else the firm might risk upsetting the supplier and jeopardise the future working relationship and terms of business. It should also be remembered that its not found money but rather a careful balancing act of cash-flow. Grants: Grants are often available from councils and other Government bodies for specific issues. For example there may be a council priority to regenerate a particular area of a town and who are happy to help fund refurbishment of buildings. Alternatively there may be an organisation that specialises in helping young entrepreneurs to launch new businesses. Assessment for grants can be very competitive, is very individual and not automatic. Venture capital: This source is most often used in the early stages of developing a new business. There may be a huge risk of failure but the potential returns may also be big. This is a high risk source as the venture capitalist will be looking for a share in the firms equity and a strong return on their investment. However the significant experience these investors have in running businesses could prove valuable to the company. This is what the TV programme Dragons Den is all about! Factoring: This involves a company outsourcing its invoicing arrangements to an external organisation. It immediately allows the company to receive money based on the value of its outstanding invoices as well as to receive payment of future invoices more quickly. It works by the firm making a sale, sending the invoice to the customer, copying the invoice to the factoring company and the factoring company paying an agreed percentage of that invoice, usually 80% within 24 hours. There are fees involved to cover credit management, administration charges, interest and credit protection charges. This must be weighed up against the benefit gained in maximising cash flow, a reduction in the time spent chasing payments and access to a more sophisticated credit control system. The downside is that customers may prefer to deal direct with the company selling the goods or services. In addition ending the relationship could be tricky as the sales ledger would have to be repurchased. Money is a scarce resource and each source has its own advantages and disadvantages. Lenders will be looking for a return on investment, the size of the risk and the flexibility with which they can get their money back when they want or need it. For the company seeking money, the decision as to the best source will ultimately depend on what the money is for, how long the money is needed for, the cost of borrowing and whether the firm can afford the repayments. Task 2: The launch of Clubcard in Thailand in August this year extends Tescos loyalty cards operation further across the globe, and belatedly brings Thailands biggest retailer into a loyalty card market which already contains offers from Carrefour, Tops and Big C. It will clearly be big: in its first three weeks Clubcard gained more members (two million) than competitor Carrefours I-Wish card has accumulated since its launch in 2007. The recent launch in Malaysia has resulted in 70% of scanned transactions being covered by Clubcard. The benefits to Tesco are clear. Their dominance of the UK market has been underpinned by Clubcard, and whilst their latest campaign to double points has yet to prove effective (Tesco growth in the period still lags Asda*, a competitor which does not use a loyalty card), there is a consensus amongst industry observers that it has historically been a critical part of their marketing mix. The benefits to manufacturers are less clear; and one suspects criticism of ones biggest customer would naturally be muted. So what are the implications for Tescos suppliers and how should they respond to Clubcard? Clubcard is a loyalty card, and is designed to encourage shoppers to use a particular chain more. In its simplest incarnation a loyalty card gives rewards, usually in the form of discounts against future purchases, based on how much is spent. Because Clubcard registers who did the shopping, it is possible for Tesco (through their partners Dunnhumby, majority-owned by Tesco), to analyze who buys what, which should enable activities such as promotions to be better targeted. So, for example, a coffee supplier could target their next promotion only at shoppers who bought the competitor product. The targeting of promotions offers a theoretical improvement in effectiveness, but the real boon is the potential to effectively evaluate activities knowing which shoppers bought adds useful data to a promotion evaluation which is currently limited to whether sales went up or not. Clubcard promises suppliers much: Insight into shoppers, more efficient promotions, and unprecedented access to new in-store media opportunities. Suppliers will need to evaluate the potential benefits of the Clubcard offer against the inevitable associated costs. Yet it clearly has limitations: Clubcard in Thailand has two million card holders, yet with Tesco enjoying 25% of the Thai retail market, their total number of shoppers must be significantly higher than this. So how skewed is the sample, how representative, and what is missing? Task 3 Choosing the Right Source of Finance A business needs to assess the different types of finance based on the following criteria: Amount of money required a large amount of money is not available through some sources and the other sources of finance may not offer enough flexibility for a smaller amount. How quickly the money is needed the longer a business can spend trying to raise the money, normally the cheaper it is. However it may need the money very quickly (say if had to pay a big wage bill which if not paid would mean the factory would close down). The business would then have to accept a higher cost. The cheapest option available the cost of finance is normally measured in terms of the extra money that needs to be paid to secure the initial amount the typical cost is the interest that has to be paid on the borrowed amount. The cheapest form of money to a business comes from its trading profits. The amount of risk involved in the reason for the cash a project which has less chance of leading to a profit is deemed more risky than one that does. Potential sources of finance (especially external sources) take this into account and may not lend money to higher risk business projects, unless there is some sort of guarantee that their money will be returned. The length of time of the requirement for finance a good entrepreneur will judge whether the finance needed is for a long-term project or short term and therefore decide what type of finance they wish to use. Short Term and Long Term Finance Short-term finance is needed to cover the day to day running of the business. It will be paid back in a short period of time, so less risky for lenders. Long-term finance tends to be spent on large projects that will pay back over a longer period of time. More risky so lenders tend to ask for some form of insurance or security if the company is unable to repay the loan. A mortgage is an example of secured long-term finance. The main types of short-term finance are: Overdraft Suppliers credit Working capital The main types of long-term finance that are available for to a business are: Mortgages Bank loans Share issue Debentures Retained profits Hire purchase Internal and External Finance Internal finance comes from the trading of the business. External finance comes from individuals or organisations that do not trade directly with the business e.g. banks. Internal finance tends to be the cheapest form of finance since a business does not need to pay interest on the money. However it may not be able to generate the sums of money the business is looking for, especially for larger uses of finance. Examples of internal finance are: Day to day cash from sales to customers. Money loaned from trade suppliers through extended credit. Reductions in the amount of stock held by the business. Disposal (sale) of any surplus assets no longer needed (e.g. selling a company car). Examples of external finance are: An overdraft from the bank. A loan from a bank or building society. The sale of new shares through a share issue. Task 4 All lenders charge interest on their loans and this is the major element in the cost of the finance. Building societies and banks have variable interest rates which may vary according to the size of the loan. However, there are other charges that are normally involved in arraning a mortgage: Arrangement fees Banks and building societies do not always charge arrangement or setup fees, but many lenders do charge them, particularly for some of the specialist mortgages described later in this guide. Arrangement fees are typically in the range of  £100  £400. Valuers report In order to protect its security, the lender will want to be sure that the house is worth the sale price, so will alwas insist on a valuation for mortgage purposes. This will be carried out by a qualified surveyor, who will charge a survey fee, paid by the borrower. The lenders survey aims to establish if the value of the house is enough to protect the lenders security. It does not mean that the property is free from any defects. It is therefore recommended that house buyers obtain a homebuyers report or a full survey to ensure that they are aware of any problems. This will increase the cost but could prove to be a wise investment. Indemnity guarantee fee Some lenders insist on an indemnity guarantee policy if the loan exceeds 75 percent of the property value. This protects the lender in the event of the borrower defaulting on the mortgage and the sale price of the property not being enough to repay the loan. However, this policy is paid for by the borrower and often, the premium has to be added to the loan. In recent times, the threshold for mortgage indemnity guarantees has increased many lenders now set the level at 90 percent. Stamp duty This is a tax charged by the Government on the document transferring ownership of the house, paid by the purchaser. The rates are: Nil up to  £60,000 1% over  £60,000 but not more than  £250,000 3% over  £250,000 but not more than  £500,000 4% over  £500,000 Legal fees There will be legal fees payable to the solicitor or licensed conveyancer handling the transaction. The legal fees will include the local search fees (carried out to reveal matters affecting theproperty) and land registry fees, as well as the lawyers own charges. Other charges All mortgage lenders will have a tariff of other charges that you may incur in certain circumstances at various points during the life of your loan. These are not universal charges lenders will vary in terms of which ones apply, but all should be able to provide details on request. Task 5: Importance of Financial Planning It is important to plan finances in order to reap long term benefits through the assets in hand. The investments that one makes are structured properly and managed by professionals through financial planning. Every decision regarding our finances can be monitored if a proper plan is devised in advance. The following points explain why financial planning is important. Cash Flow: Financial planning helps in increasing cash flow as well as monitoring the spending pattern. The cash flow is increased by undertaking measures such as tax planning, prudent spending and careful budgeting. Capital: A strong capital base can be built with the help of efficient financial planning. Thus, one can think about investments and thereby improve his financial position. Income: It is possible to manage income effectively through planning. Managing income helps in segregating it into tax payments, other monthly expenditures and savings. Family Security: Financial planning is necessary from the point of view of family security. The various policies available in the market serve the purpose of financially securing the family. Investment: A proper financial plan that considers the income and expenditure of a person, helps in choosing the right investment policy. It enables the person to reach the set goals. Standard of Living: The savings created by through planning, come to the rescue in difficult times. Death of the bread winner in a family, affects the standard of living to a great extent. A proper financial plan acts as a guard in such situations and enables the family to survive hard times. Financial Understanding: The financial planning process helps gain an understanding about the current financial position. Adjustments in an investment plan or evaluating a retirement scheme becomes easy for an individual with financial understanding. Assets: A nice cushion in the form of assets is what many of us desire for. But many assets come with liabilities attached. Thus, it becomes important to determine the true value of an asset. The knowledge of settling or canceling the liabilities, comes with the understanding of our finances. The overall process helps us build assets that dont become a burden in the future. Savings: It is good to have investments with high liquidity. These investments, owing to their liquidity, can be utilized in times of emergency and for educational purposes. The argument made by people from low income groups is that they dont need to plan their finances due to the less money they possess. However, no matter how much one earns, better planning of income always helps in the long run. Task 6: Defining the problem Take time to properly define the problem. What is the issue to be covered? What is the problem? What decisions need to be taken? A fish-bone diagram will sometimes help in understanding the complex interlinkages that create a particular problem. For each of the causes or its effects, make a list of information or data that will be required, and clarify how that information will lead to a better decision. Finding the information Determine the sources from where information needed for decision-making can be obtained. What information needs to be taken? Who has that information? Why is that information being collected by the source? Which component of the problem at hand will it help? Evaluate the sources to see which of them can provide the best information, and identify the mode and format in which the information is presented. Keep in mind that different sources provide information in different formats (for different reasons!). Processing the Knowledge This where the information gathered is matched with the problem in hand. The relevant information from each source is extracted and information from multiple sources is organized. Which parts of the information collected needs to be used? What additional data or information is needed? How can information be best presented to be able to understand the situation and take decisions? The collected information is evaluated and integrated for its relevance, validity and interconnectedness. Taking the decision In an interactive and inclusive process involving all the concerned parties, form an opinion from the information collected for its effectiveness and efficiency. Use it to take the decision. Has the decision taken help in solving the problem at hand? Was the decision satisfactory and took into account all the views of concerned parties? A decision taken may need to be examined closely and refined, and modified to meet differing needs over time. Task 7 Impact of finance of financial statement is immence because inorder to prepare financial statememnt some cost is essential such as auditors fee, financial analysts fee.

Speech and Language Therapist (SLT) Role and Ethics

Speech and Language Therapist (SLT) Role and Ethics Role Investigation This essay will investigate a vocational role as a Speech and Language Therapist (SLT). It will cover the role, where the role may be needed and will operate, what qualifications are needed to become a SLT, and what psychological theories are used and applied when working as a SLT. The essay will then cover the ethics required of a SLT and the skills needed because of them. A SLT role requires working with people of all ages with various levels of speech language and communication problems. Such problems can occur when they have difficulties swallowing, drinking or eating. Typical clients they deal with have physical and learning disabilities, hearing loss/deafness, psychiatric disorders or dementia. They help by assessing and identifying the difficulties/disorders the client has and then create and implement a suitable treatment program. They will then continue to see the client on a one-to-one basis to assess the developments made. They will also teach the client’s family, social workers, and teachers on how to communicate effectively to help clients outside their therapy sessions (editors, 2012). The average salary for a SLT could range from  £21,176- £27,625 if they are part of the NHS, but you could go into a specialist role outside of the NHS and the salary range is  £25,528- £34,184. Another option is the work as a freelance SLT. SLTs work within schools, hospitals, health centres, day care centres, rehabilitation unit, client’s homes, prisons and young offender’s institutions. SLTs work typically 9-5, and they could work in several locations (editors, 2012). The training and qualification needed to be a SLT is a degree accredited by the Royal College of Speech and Language Therapists (RCSLT). A degree in Psychology will better the chances of getting onto the post-graduate 2 year course, which needs to be taken to get the accreditation. SLTs also need to be a registered member of Health care Professionals Council (HCPC) (AGCAS, 2012). Although a specialist speech and language therapist may require additional skills and training. For example a speech and language therapist in a special needs school may learn Makaton sign language because some children may not be able to communicate effectively. Using signs may help adults understand children which will relieve frustration and reduce anxiety which in turn should help facilitate communication (Enderby, et al., 2009). Speech and language is something quite unique to humans so a lot research has been done into the acquisition and the development of language (Pinker, 1995). Theories are constantly evolving and adapting and speech and language therapists must recognise these and adapt their strategies accordingly (Latham Miles, 2001). The behaviourist approach to language development is that it is learnt in response to a stimulus that gives a pleasant reward (Latham Miles, 2001). This is how a child will associate words with meanings and therefore reinforce the importance of communication and using words. For example Skinner proposed that a child will point and say â€Å"drink†, the child is then rewarded with the drink. The child then associates the word drink with getting a drink and will carry on using it whenever they want one (Skinner, 2014). This is supported by Sundberg, Micheal, Partingtin, Sundberg, (1995) who did a study on five children between two and four-years-old, four had moderate language delays and one typically developing child. They performed the targeted response, i.e. sound, word or phrase, after the conditioned reinforcement was established and then established new vocal responses. For example a subject wanted to be tickled (which was the reinforcement), so said the paired word â€Å"apple†, eventually she started saying â€Å"tickle†. However this study was only done on 5 subjects so its sample size is not relaible enough to generalise universally. Although speech and language therapists could use positive reinforcement as a technique in their sessions, it could be particuarly helpful when working with children. SLTs use games where when they win or complete the task they are intrinsically motivated. Extrinsic rewards do help however the child may get too excited by the reward and their attention turns to the reward rather than the task. Also they may find that the child doesn’t have reward outside the session therefore doesn’t use the communication skills learnt in session outside, in classrooms or at home (Boyle, McCartney, Forbes, OHare, 2007). Also it is important if a SLT is working with someone with mutism or selective mutism to reward every type of communication, no matter how small, whether it be verbal or head shaking. A SLT will talk to teachers and parents/carers to see these small signs of commmunication and how to positively respond to them (Aberdeenshire Council, 2013). This behaviourism technique is what allows children to associate words with meanings however if a child is impaired in this area a SLT may find other ways to allow a child to communicate. For example teaching Makaton signs or using symbols and pictures that they can point to (Roulstone, Wren, Bakopoulou, Goodlad, Lindsay, 2010). However Skinners approach was criticised because it does not explain how people come to put sentences together (Albery, et al., 2008). This point was made by Chomsky, he believed that language was a human instinct (Pinker, 1995) and that the sentence structure was very important in being understood and that a child through behaviourism alone could not learn all of the grammatical rules in his/her language (Chomsky, 1967). For example the sentence â€Å"the cat was on the basket† differs in meaning from â€Å"the basket was on the cat†, Chomsky believed that the order was essential to get a message across (Chomsky, 1967) (Latham Miles, 2001). Chomsky believed that children could understand grammatical rules through their Language Acquisition Device (LAD) and universal grammar. They hear the language, through the LAD, they then pick up on the grammatical rules of language in their universal grammar and then it is put forward to the LAD (cited by Albery, et al., 2008). Th is can explain how children overgeneralise grammar for example when they say â€Å"wented† or â€Å"goed† (Albery, et al., 2008). This can be supported by Berko, children were asked questions to find out whether they knew grammatical rules and could apply them to made-up words. For example they were showed a picture of a â€Å"wug† and asked what two were called. Instead of saying they didnt know because they have never been told, they called them â€Å"wugs†. However this study was done on only English native speakers so it does not prove if children have access to universal grammar rules, it may just suggest children listen and remember grammar rules of the languages they have been exposed to (Berko, 1958). Most people who have suffered from a stroke may know what single words mean but may struggle when it comes to putting sentences together. So its the SLT role to focus on tasks that will facilitate the patient’s ability to construct sentences. They could do this through arranging words on flash cards into sentences (Stroke Association, 2012) Another theory that SLTs use are the stages of language acquisition. At around 7 week’s babies a thought to start the â€Å"cooing† stage, this involves sounds that include vowels like â€Å"ooh† and â€Å"aaaa†. At 7 months children are believed to start the babbling stage such as ‘bodadda† (Albery, et al., 2008). SLTs will use this as guidelines to decide whether a child is developing their language normally. Latham Miles (2001) created a framework which is used to assess where a child is in their language development and interventions to help the child move onto the next band. For example band one the child can express themselves through vocalising, facial expressions, pointing and gestures. The interventions suggested at this stage are for an adult to respond to the child’s attempts of communication and actively play turn taking games with them. This should then help the child move onto band two. The SLTs job will be to continuously assess and evaluate the child’s progress and put in place interventions that parents and carers can do at home to help the child progress. This is a part of the SLTs ethics guide, they must ensure they are making fair and appropriate assessments, judgements, diagnosis and treatment interventions. They must ensure they put the client first and make decisions that would most benefit them based on knowledge and up-to-date research. They must also ensure they are keeping records of all the sessions they have with their clients so that there is a record of progression. It is important they maintain client confidentiality at all times. Above all they must protect their clients and themselves by maintaining a safe, appropriate, and professional environment and relationship (HCPC, 2014). The skills needed to be a SLT because of the type of role are efficiency, to ensure you are on top of all paper work and recent research. They must be able to work with and enjoy working with lots of different types of people, from children to the elderly, and have the patience to listen and help clients. And they must be good at problem solving and creating effective and inventive interventions that will work for specific individuals. In conclusion SLTs have a very diverse job which is changing all the time, from the types of people who require their service, the research behind the service given and what they can do to help their clients. They must constantly be on top of whether their treatments are working and change them accordingly, this means they must be on top of research and take into account both nurture and nature sides of language acquisition. However the role seems creative, rewarding and it seems that they could do something and work with somebody different every day. References Aberdeenshire Council. (2013). Supporting Children with Selective Mutism. Aberdeenshire: Aberdeenshire Council. AGCAS. (2012, December). Speech and Language therapist, entry requirements. Retrieved October 28, 2014, from Prospects: www.prospects.ac.uk/speech_and_language_therapist_entry_requirements.htm Albery, I. P., Chandler, C., Field, A., Jones, D., Messer, D., Simon, M., Sterling, C. (2008). Complete Psychology (2nd ed.). (G. Davey, Ed.) London: British Libuary Cataloguing in Publication Data. Berko, J. (1958). The Childs Learning of English Morphology. Word, 14, 150-177. Boyle, J., McCartney, E., Forbes, J., OHare, A. (2007). Language Therapy Manual: health technology assessment 2007. Strathclyde: University of Strathclyde. Chomsky, N. (1967). A Review of B.F. Skinners Verbal Behavior. Readings in the Psychology of Language, 142-143. editors, A. (2012, December). Speech and language therapist, job description. Retrieved October 28, 2014, from Prospects: www.prospects.ac.uk/speech_and_language_therapist_job_description.htm editors, A. (2012, December). Speech and language therapist, salary and conditions. Retrieved October 28, 2014, from Prospects: www.prosoects.ac.uk/speech_and_language_therapist_salary.htm Enderby, P., Pickstone, C., John, A., Fryer, K., Cantrell, A., Papaioannou, D. (2009). Resource Manual for Commissioning and Planning Services for SLCN. Royal College of Speech and Language Therapists. HCPC. (2014, June 11). Speech and Lanuage Therapists- Standards of Proficency. HCPC- health and care professions council. Retrieved January 21, 2015, from HCPC: Health Care Professions Council: www.hcp-uk.org/assets/documents/10000529Standards_of_Proficiency_SLTs.pdf Latham, C., Miles, A. (2001). Communication, Cirriculum and Classroom Practice. London: David Fulton Publishers Ltd. Pinker, S. (1995). The Language Instinct. London: Penguin Books. Roulstone, S., Wren, Y., Bakopoulou, I., Goodlad, S., Lindsay, G. (2010). Exploring interventions for children and yound people with speech, language and communication needs: A study of practice. Bristol: Department of Education. Skinner, B. (2014). Verbal Behavior. B.F. Skinner Foundation. Retrieved from store.behavior.org/resources/595.pdf Stroke Association. (2012, April). Communication Problems. Retrieved January 21, 2015, from Stroke: www.stroke.org.uk/factsheet/speech-and-language-therapy-after-stroke Sundberg, M. L., Micheal, J., Partingtin, J. W., Sundberg, C. A. (1995). The role of automatic reinforcement in early language acquisition. Analysis of Verbal Behavior, 13, 21-37.

Alexis de Tocqueville?s Influence Essay -- essays research papers

Alexis de Tocqueville’s Influence   Ã‚  Ã‚  Ã‚  Ã‚  Alexis de Tocqueville’s observation of the American prison system brought out several interesting facts about America and how it governs itself. He talks of the danger of greed for money, the importance of forming associations, and the power of influence in town government. Although many of his observations have since changed, many of them bring about legitimate points about American government and society.   Ã‚  Ã‚  Ã‚  Ã‚  In de Tocqueville’s book Democracy in America, he is quoted as saying, â€Å"†¦I know of no other country where love of money has such a grip on men’s hearts or where stronger scorn is expressed for the theory of permanent equality of property.† In my opinion, he is pointing out that man’s greed for money is what will possibly tear our society apart. This point has somewhat proven itself in the way that so many men, and now women, are willing to do almost anything to gain a dollar, even if it means using immoral and hurtful ways to do so.   Ã‚  Ã‚  Ã‚  Ã‚     Ã‚  Ã‚  Ã‚  Ã‚  In talking about the importance of forming associations in America, de Tocqueville says, â€Å"Americans of all ages, all stations of life, and all types of disposition are forever forming associations...In democratic countries knowledge of how to combine is the mother of all other forms of knowledge; on its progress depends that of all the others.† My belief is that he is saying that although f... Alexis de Tocqueville?s Influence Essay -- essays research papers Alexis de Tocqueville’s Influence   Ã‚  Ã‚  Ã‚  Ã‚  Alexis de Tocqueville’s observation of the American prison system brought out several interesting facts about America and how it governs itself. He talks of the danger of greed for money, the importance of forming associations, and the power of influence in town government. Although many of his observations have since changed, many of them bring about legitimate points about American government and society.   Ã‚  Ã‚  Ã‚  Ã‚  In de Tocqueville’s book Democracy in America, he is quoted as saying, â€Å"†¦I know of no other country where love of money has such a grip on men’s hearts or where stronger scorn is expressed for the theory of permanent equality of property.† In my opinion, he is pointing out that man’s greed for money is what will possibly tear our society apart. This point has somewhat proven itself in the way that so many men, and now women, are willing to do almost anything to gain a dollar, even if it means using immoral and hurtful ways to do so.   Ã‚  Ã‚  Ã‚  Ã‚     Ã‚  Ã‚  Ã‚  Ã‚  In talking about the importance of forming associations in America, de Tocqueville says, â€Å"Americans of all ages, all stations of life, and all types of disposition are forever forming associations...In democratic countries knowledge of how to combine is the mother of all other forms of knowledge; on its progress depends that of all the others.† My belief is that he is saying that although f...

T.S. Eliot’s American Dream :: essays research papers

T.S. Eliot’s American Dream Thomas Stearns Eliot was born to a very remarkable New England family on September 26, 1888, in St. Louis, Missouri. His father, Henry Ware, was a very successful businessman and his mother, Charlotte Stearns Eliot, was a poetess. While visiting Great Britain in 1915, World War I started and Eliot took up a permanent residency there. In 1927, he became a British citizen. While living in Britain, Eliot met and married Vivienne Haigh -Wood and at first everything was wonderful between them. Then he found out that Vivienne was very ill, both physically and mentally. In 1930, Vivienne had a mental breakdown and was confined to a mental hospital until her death in 1947. Her death was very hard on Eliot and he died on January 4, 1965. Most of Eliot’s works were produced from the emotional difficulties from his marriage. Because of Eliot’s economic status, he attended only the finest schools while growing up. He attended Smith Academy in St. Louis and Milton Academy in Massachusetts. In 1906, he started his freshman year at Harvard University studying philosophy and literature. He received his bachelor’s degree in philosophy in only three years. Eliot went on to study at the University of Oxford and also at the Sorbonne in Paris. At the Sorbonne, he found inspiration from writers such as Dante and Shakespeare and also from ancient literature, modern philosophy and eastern mysticism. Eliot’s first poem he wrote was â€Å"The Love Song of J. Alfred Prufrock† in 1915. Eliot converted his religion to Anglo - Catholicism and in 1927, his poetry took on new spiritual meaning. Ash Wednesday was the first poem he wrote after his conversion in 1930. It is said that it traces the pattern of Eliot’s spiritual progress. It strives to make connections between the earth ly and the eternal, the word of man and the Word of God and the emphasis is on the struggle toward belief. Thus telling us that God is part of Eliot’s American dream. Other poems Eliot has written are Portrait of a Lady (1915), Mr. Apollinax (1916), Sweeny Among the Nightingales (1918), and Four Quartets (1943) which he believed to be his greatest achievement. Eliot also wrote the play "Murder in the Cathedral" (1935). It was about the murder of Thomas Becket and was later turned into a film in 1952. Other plays written by Eliot are "The Family Reunion" (1939), "The Cocktail Party" (1949), "The Confidential Clerk" (1953), and "The Elder Statesman" (1959). T.S. Eliot’s American Dream :: essays research papers T.S. Eliot’s American Dream Thomas Stearns Eliot was born to a very remarkable New England family on September 26, 1888, in St. Louis, Missouri. His father, Henry Ware, was a very successful businessman and his mother, Charlotte Stearns Eliot, was a poetess. While visiting Great Britain in 1915, World War I started and Eliot took up a permanent residency there. In 1927, he became a British citizen. While living in Britain, Eliot met and married Vivienne Haigh -Wood and at first everything was wonderful between them. Then he found out that Vivienne was very ill, both physically and mentally. In 1930, Vivienne had a mental breakdown and was confined to a mental hospital until her death in 1947. Her death was very hard on Eliot and he died on January 4, 1965. Most of Eliot’s works were produced from the emotional difficulties from his marriage. Because of Eliot’s economic status, he attended only the finest schools while growing up. He attended Smith Academy in St. Louis and Milton Academy in Massachusetts. In 1906, he started his freshman year at Harvard University studying philosophy and literature. He received his bachelor’s degree in philosophy in only three years. Eliot went on to study at the University of Oxford and also at the Sorbonne in Paris. At the Sorbonne, he found inspiration from writers such as Dante and Shakespeare and also from ancient literature, modern philosophy and eastern mysticism. Eliot’s first poem he wrote was â€Å"The Love Song of J. Alfred Prufrock† in 1915. Eliot converted his religion to Anglo - Catholicism and in 1927, his poetry took on new spiritual meaning. Ash Wednesday was the first poem he wrote after his conversion in 1930. It is said that it traces the pattern of Eliot’s spiritual progress. It strives to make connections between the earth ly and the eternal, the word of man and the Word of God and the emphasis is on the struggle toward belief. Thus telling us that God is part of Eliot’s American dream. Other poems Eliot has written are Portrait of a Lady (1915), Mr. Apollinax (1916), Sweeny Among the Nightingales (1918), and Four Quartets (1943) which he believed to be his greatest achievement. Eliot also wrote the play "Murder in the Cathedral" (1935). It was about the murder of Thomas Becket and was later turned into a film in 1952. Other plays written by Eliot are "The Family Reunion" (1939), "The Cocktail Party" (1949), "The Confidential Clerk" (1953), and "The Elder Statesman" (1959).