Failure of Business Ethics and its Consequences - Free Essay Example

Sample details Pages: 11 Words: 3218 Downloads: 1 Date added: 2017/06/26 Category Business Essay Type Narrative essay Did you like this example? Failure of business ethics and its consequences There is a need of business ethics and corporate social responsibility (CSR) in business so that business can work in efficient way for its stakeholders and can get positive out outcomes for negative out flows. Today organisations have business ethics and CSR policies but they donà ¢Ã¢â€š ¬Ã¢â€ž ¢t intend to follow it as prescribed. Their aim is to capture the competitive market, which every business has to do but not keeping a side benefit of society and its stakeholders. Business ethics programmes are becoming basic elements of marketing strategies of organisations which stand on three bases first code of conducts which should be undertaken by organisation, second economies and third CSR. à ¢Ã¢â€š ¬Ã…“Good business ethics can be justified within a share-holder value maximization model as reflecting long-term enlightened self-interestà ¢Ã¢â€š ¬Ã‚ (Jones and Pollitt, 1996, online). Economies in business ethi cs can be justified as individual, corporate and at social level reflecting laws and social norms. This essay discusses failure of some business ethics and CSR according to the case studies where organisation didnà ¢Ã¢â€š ¬Ã¢â€ž ¢t bother about working environment, labour laws, infrastructural development and providing customer wrong information about the product focusing and how western market turned to be a fashion blunder on Bangladesh readymade garment industry showing how western supplier for cheap labour and production hire suppliers who even donà ¢Ã¢â€š ¬Ã¢â€ž ¢t have basic proper safety equipmentà ¢Ã¢â€š ¬Ã¢â€ž ¢s and safety measures. Suppliers are just focused on delivering quantity rather than quality and safety of its stakeholders. This essay will also discuss how these western retailers have there code of conducts as well as CSR for their organisation but when they hire these cheap suppliers in developing countries they donà ¢Ã¢â€š ¬Ã¢â€ž ¢t even bother to check or i mplement its work ethics on suppliers. Business ethics is the basic foundation to structure the firm and giving it guidance of how business should run by adopting right process by isolating the wrong one. The correct practises by a company should be adopted i.e. ethical and lawfully right because companies are responsible towards its employee, shareholders and the environment they are working in for example companies should not use child labour or shouldnà ¢Ã¢â€š ¬Ã¢â€ž ¢t allow its suppliers to use it either, they should lawfully use copyright material and documents for process. To perform and adopt this kind of policies company usually have a codes of conduct to manage, analyse and evaluate how they are working which is in benefit of both consumer and company. Companies try to achieve this usually by consulting different internal and external entities of firm like employee, labour union, government, local community and stakeholders. Here is discussion about some elements of bu siness ethics as ità ¢Ã¢â€š ¬Ã¢â€ž ¢s a broad concept to discuss. So we would be focusing on some important aspects of it, which is providing proper infrastructure to workforce, amending proper labour rights, proper standards of work condition, compliance culture and rules, norms to be followed before giving contract to supplier assuring no wrong use of code of conducts and at the end discussing corporate social responsibility of companies and its amendment which is a part of a broader term corporate social policies. Most of the organisations are now undertaking corporate social polices to give better and efficient performance for both organisation and society. These include business ethics and corporate social responsibility. Business ethics are the set of code of conducts that systematizes the work pattern of organization and its action, consequences on social stakeholder where as corporate social responsibility sees that the action taken or consequences of work towards society a re achieved in the way code of conducts are designed for the betterment of stakeholders. Ethics and corporate social responsibility are different term functioning to achieve a single goal that is betterment for organisation. Ethical analysis raises question for rightness or wrongness, goodness or badness of business behaviour. It also analysis the policies in term of fundamental values like concerning rights, equity, utility, justice and virtue measuring performance issue within business ethic context. Corporate social policies are based on decision-making processes of organisation. This essay discusses about the major western high street companies like Wal-Mart, Primark and Edinburg Woollen Mill and how they get there cheap products manufactured and supplied in their country by putting on stake thousand of lifeà ¢Ã¢â€š ¬Ã¢â€ž ¢s and giving its worker worst surrounding to work. Discussing two case of high street fashion industry suppliers and their practises and how their mangers a nd owners get their work done by ignoring the code of conducts and how these high street retailers are managing to over come and solve the problems in Dhaka. 2013 was the most devastating year for garment industry in Dhaka, Bangladesh where two major garment exporting companies Rana Plaza and Tazreen fashions manufacturing plant collapsed and were stuck with fire they were huge suppliers for major north American, European and British fashion industry. Both factories had large number of workforce and at the time of accident both organization accounted death for more than 2000 people specially female workforce and the investigation concluded that people here were forced to work, there was no proper fire defence equipmentà ¢Ã¢â€š ¬Ã¢â€ž ¢s to combat fire, lack of emergency exits, illegal construction, managers cheating workforce on low wage rates and torturing them not pay if they donà ¢Ã¢â€š ¬Ã¢â€ž ¢t work extra time. Bangladesh is famous for deadly industry practises there has been similar case like this before workforce had been keeping trade unions warned about the wrong practices of firms and its owner there has been similar cases as Rana Plaza and Tazreen Fashions where building collapsed due to crack in walls, no proper safety measures provided at the time of disaster, illegal building construction, overcrowding factories and dangerous electrical system but this early calls went unheard by government and industry. In aftermath of Rana plaza it shook the world and told them about horrific condition and torture faced by workforce in Bangladesh and how these two incidents has changed lives of thousands of worker and their families. It has showed the world how big companies like Primark, Wal-Mart, Edinburg woollen mill talks about corporate social responsibility but do not follow them in their practices. The incident of Rana Plaza has finally leaded to some positive action by brands, retailers and the government to help adopt fair practices but ità ¢Ã¢â€š ¬ â„ ¢s too late. Still these big brands are not ready to pay the compensation to the families who lost there dearest in this accident. Rana Plaza had large number of workforce employed; it was the garment section workforce, which had to face that fateful day. These suppliersà ¢Ã¢â€š ¬Ã¢â€ž ¢ factory employees millions of workforce which are the base of Bangladeshà ¢Ã¢â€š ¬Ã¢â€ž ¢s economy yet their lives are in miserable condition by both government and employers. They are the lowest paid in the world. At the time of Rana plaza collapse minimum wage was 38USD per month. As their business grew this retailers wanted to make huge profits from their clients so they hired cheap suppliers from Bangladesh where these two suppliers from. According to Wal-Mart and Primark CSR report they mention to give employee and workforce safer place to work ensuring on having proper supply chain capacity building, worker safety initiative, womenà ¢Ã¢â€š ¬Ã¢â€ž ¢s empowerment, green and yellow facto ries and retail market compliance which all ensured welfare of workforce and will ensure that its suppliers also follow the same code of conducts but it all failed or didnà ¢Ã¢â€š ¬Ã¢â€ž ¢t workout with these retailers and they were just focused of getting shipments from the suppliers and least bothered about how they are getting their shipments and what are the condition workforces are working. According to Wal-Mart report of 2011 in which they mention their visit to supplierà ¢Ã¢â€š ¬Ã¢â€ž ¢s factories in Bangladesh and found that their fire, electrical and structural safety were not proper and these remain the major cause of not meeting the criteria of companies code of conduct. But than too they didnà ¢Ã¢â€š ¬Ã¢â€ž ¢t ceased the contract with these suppliers knowing all the conditions later that year in a report from international labour right forum (ILRF) that how labour were discriminated and werenà ¢Ã¢â€š ¬Ã¢â€ž ¢t paid properly and there working condition werenà ¢Ã¢â€š ¬Ã¢â€ž ¢t good as well the report also found that suppliers make them do work for 19hrs a day in a week and to get extra work done employers forced workers to do long shifts and locked them in the factory which was the major cause of high death rate. These were also main cause of loosing many lives in Tazreen factory where people were trapped and locked in with fire and couldnà ¢Ã¢â€š ¬Ã¢â€ž ¢t come out of the factory. In the after math of these two incidents it was clear that high street high street retailers who hired these supplier firms did not inspected there factory facilities and working condition of employee as a part of code of conduct these suppliers were shown and given fake documents and foul information about the working hours of labour they hired later it was found that these suppliers maintained two books of register one for labour and other for retailers. It was responsibility of these high street retailers to have inspection and safety measure checks as a part of t here business ethics audit according to the safety and ethic frame work it is responsibility of employer to provide safe working conditions as it helps achieve organisational excellence and integrity in strategy and excellent operational performance to achieve this. Some organisation have integrated four basic fundamentals under their ethics and corporate social responsibility (CSR) the first one is value for human life i.e. life of employee or worker supersedes the making huge profit or achieving the target sales, second integrity i.e. always doing taking up fair practises and telling actual conditions as to what type of conditions and environment that they have to work in as being loyal and committed towards employee. Third justice i.e. doing fair dealing with employee and stakeholders and establishing trust between all parties enrolled in a organisation. Fourth good of the many as ità ¢Ã¢â€š ¬Ã¢â€ž ¢s based on achieving excellence for all the people working for organisation so t hat the target can be successfully achieved as a common goal either by organisation or as a team of organisation. But all of this ethics were failed to achieve by either by owner or employer on Tazreen and Rana Plaza where human life was of no value as owners of this factories just focused on producing huge outputs to deliver it to retailers keeping on stake quality of product produced and employeeà ¢Ã¢â€š ¬Ã¢â€ž ¢s safety. As it always responsibility of employer or manager to keep workforce updated about the actual conditions and to eliminate work for safety of employees in this case manager of Tazreen factory where people were locked inside the factory to do extra hours of work to achieve the target sales and to get product ready as soon as possible there was no authority to take immediate action to free people from burning building which was the cause of many deaths but in case of Rana Plaza where employees were came out knowing the actual case where building walls were developi ng cracks but they were forced to get back inside and to continue their work by the manager by giving them false promise that the repair work has been done and its now safe to work in the factory building which lead to be cause of many deaths. There is equal failure of government and its policy because these policies were never followed or practised by the suppliers both in terms of paying and providing labour proper wages. These suppliers were forcing labour to do more work as well as threatening them not pay if they donà ¢Ã¢â€š ¬Ã¢â€ž ¢t work for 18-19 hours a day, they were as well locked in the factory. According to the labour laws of Bangladesh government under section 100, 102, 108 of 2006 it is clearly stated that a labour is allowed to work forty eight hours a week if he tends to work above this time he should be paid more than normal wage rate defined by government and there should be a register maintained by the organisation stating labour work hours and extra hours worke d by him for securing compliance with the provision of this sections. As well under this act a labour or employee should only be given job if he has an appointment letter of government or identity card with a photograph of his on government card provided to him. But in both incidents it was both retailer and government was to be blamed because no single code conduct was followed by either of them, registers were maintained and recorded but different for retailer and government stating different figures they were getting false record sign by labour as they werenà ¢Ã¢â€š ¬Ã¢â€ž ¢t literate and educated this was also one the drawbacks of failure of government policies but government should also empowered the labour workforce and educated them for their rights and should have kept a vigil on suppliers false practises. It was equally responsibility of the high street retailers to check and inspected these facilities of suppliers before giving them contract they should have inspected the m according to their code of ethics but both government and retailers failed to undertake their ethical responsibility. These high street retailers were getting their garments manufactured in these Bangladeshi factories but were denying that they didnà ¢Ã¢â€š ¬Ã¢â€ž ¢t new that their garments were manufactured in here but later in the investigation it was found that these western high street retailers had direct links with the suppliers i.e. Tazreen and Rana plaza factories in investigation researchers found brand labels, clothing and documents in the rubble which were linking to major American, European and British retailors. When Tazreen building collapsed it were manufacturing garments for Lidl, Tesco, Primark and Edinburg Woollen Mill But according to retailers only Primark accepted connection with this factory rest denied that they didnà ¢Ã¢â€š ¬Ã¢â€ž ¢t how their products were manufactured there specially Edinburg woollen mill who was having large consignment shipped from Ta zreen denied and their label said manufactured in Scotland but they were originally manufactured here at Tazreen which also show that how big retailers like Edinburg Woollen Mill cheat consumer by giving them false information about product and its manufacturing according to code of ethics and government rules it is mandatory to give exact specification about the product and in the documents found it was clearly seen that this was there unauthorised production done at Tazreen and in accordance to this they didnà ¢Ã¢â€š ¬Ã¢â€ž ¢t accepted to pay compensation to the families who either lost their family members or got severely injured in the accident and according to corporate social responsibility it was there duty give them compensation and help these family to give them better life and empower them by providing education and work. In the case of Rana plaza building collapse there were highest death rate around 1132 in the investigation it was found that it was manufacturing cloths for major U.S. and European high street retailors and before collapse there was a major shipment of Wal-Mart manufactured was manufactured in Rana plaza. Company did accepted that it had a contract with a supplier in Rana plaza but that ended a year ago because the quality of product didnà ¢Ã¢â€š ¬Ã¢â€ž ¢t matched the standards required, they were getting work done by labours on long shifts and they harboured child labour which was against the code of conducts of Wal-Mart. In another investigation it was found that suppliers and factory owners in Rana plaza were getting contracts and orders from agents and these agents were giving unauthorised contracts on behalf of the retailors. In the case of Rana plaza building collapse there were highest death rate around 1132 in the investigation it was found that it was manufacturing cloths for major U.S. and European high street retailors and before collapse there was a major shipment of Wal-Mart manufactured was manufactured in Rana plaza . Company did accepted that it had a contract with a supplier in Rana plaza but that ended a year ago because the quality of product didnà ¢Ã¢â€š ¬Ã¢â€ž ¢t matched the standards required, they were getting work done by labours on long shifts and they harboured child labour which was against the code of conducts of Wal-Mart. In another investigation it was found that suppliers and factory owners in Rana plaza were getting contracts and orders from agents and these agents were giving unauthorised contracts on behalf of the retailors. To conclude I would say business ethics and CSR is necessary as it basic structure of organisation but it is much more necessary to implement it, failure of not implementing it could again give rise to incidents like Rana Plaza and Tazreen factory where structural damage of building and not availability of safety measures to combat fire this was due to ignorance of code of conduct or ethics that wasnà ¢Ã¢â€š ¬Ã¢â€ž ¢t practised by suppliers or inspec ted by high street retailors and there is equal fault of government that it couldnà ¢Ã¢â€š ¬Ã¢â€ž ¢t inspect these kind of practices which were followed by organisation within the country. There should be proper labour law enforced in organisation and high street retailers should adopt organisational ethics while hiring suppliers inspecting there work facilities, equipment and labour working conditions before giving contract to suppliers and should keep a strict vigil on them and their activities so that no law is harmed like in case of Tazreen where people were forced to work long hours and were locked inside the factory which was violation of labour law. Organization and government as well should educate work force about their laws so that there is no violation with workers and if there is any problem they no what measures to take like if these suppliers cheat them on payment or making them work overtime. Proper working condition should be provided to workforce. It is duty of org anisation to build a factory or facilities according to right norms and measures so that at time of any emergency there are enough measures available to save both human lives and equipment and it is also duty of retailors to inspect suppliers factory on same norms and condition before hiring them on contract there should be a factory inspection by the retailors and should as well check for hazard safety measures adopted by their suppliers so that at the time of any emergency workforce have right tools to combat the it with proper safety equipment, which were missing in both Rana plaza and Tazreen factory and people were struck inside the factories as there were no fire emergency exits or any safety device to stop fire in case of Rana plaza where there was structural damage in the building and people were made to work, there was no proper inspection conduct either by supplier and retailor on buildingà ¢Ã¢â€š ¬Ã¢â€ž ¢s safety issue which was the cause of collapse of building. In a re port by BBC according to their inspection it was found that Edinburg Woollen Mill has been violating consumers law under law right to information about the product to consumer by providing wrong information on labels of cloths which says made in Scotland but the majority of garments are manufactured in Bangladeshi factories which is also a unauthorised production done by company. Don’t waste time! Our writers will create an original "Failure of Business Ethics and its Consequences" essay for you Create order

Field Research Paper Education During Infancy - 1516 Words

Field Research Paper Education during Infancy The most important stages in an individual’s life begins at the early development stage through infancy. During this stage, cognitive and emotional development body, along with physical growth during this process. Cognition development is necessary through this phase as it gathers information and deciphers it correctly. During this phase, the person focuses on detail and attempts to describe person, place, or object. The infant observes and portrays information within his or her environment. During this interesting stage, they examine the environment to find answers. Exposure to different surroundings is also important during the early cognitive development stage. The ability to capture new†¦show more content†¦The Merchandise marketed has one goal, to establish cognition within the toddler brain known to provide stimulus for active learning (Berk, 2010) Product Analysis There are several hundred learning toys available in stores that inspire parents and caregivers to purchase. The companies insist the items sold will support the toddler to read books studied for this purpose. There is a product sold on Amazon that has a reputation to help a toddler to read. The company that created Baby Read Set says to increase the toddler to read with a step-by-step process that provides simple clear words the child can read. Also, there are other marketed items that claim to increase cognitive development for an infant. There are different DVD sets said to help in reading for early development stages, and extra DVD sets that provide extra gaming tools for promoting faster reading and learning. Amazon sells these products. The Baby Read Set comes with extra materials for listening on DVD sets for capturing pronounced word for mimicking said to help in reading during infancy. The Baby Read Set has the components that make it feasible for infants to participate in; the toddlers enjoy the different sounds, music, and different colors witnessed from the start of the program. The child s visual and

The Collapse of Dick Smith

Question: Discuss about the Collapse of Dick Smith. Answer: Introduction Understanding the reason for the failure of a business is essential in identifying the life cycle of the business so as to put plans in place that can revive the business. In the bid of understanding the reasons as to why businesses fail as others succeed, examination of the business performance is essential (Osuala 2015, p. 12). Dick Smith was known to be one of the iconic electronic retailers in Australia. However, the business failed as a result of external and internal factors. This paper presents some of the accounting issues that led to the failure of the business concerning different business theories and accounting practices. 32489 Motivation of the management and accounting issues that led to the fall Dick Smith Before the successful listing on the stock exchange of the organization in late 2013, it had enjoyed strong growth sales that were underpinned by the new lines of business and expansion plans. However, in the tough times, the management had a strong focus on the possibility of increasing the revenues that would hopefully lead to profit generation. Their focus leads to the expense of sustainable growth as the business struggled to maintain its performance. The management of the company carried out massive inventory purchasing failures out of an ill-thought and with costly expansion strategies. As a result, the expensive expansion plans together with the surplus earning of the employees forced the company to get into significant borrowing deals since the process ate up all the surplus of the company. As a result, the Australian iconic electronic retailer began to lose its market as a result of a change in the customer preference. Moreover, these expansions plans were not edited and went unchecked for a long time, a situation that led to the retailer carrying too much stock that could not be sold and yet were overvalued. A few months later, a rapid sale clearance was necessary despite the fact that it was a time of good sales, and the retailer could have achieved strong margins. Also, the cash receipts were not sufficient to meet all the commitments of the organization. This lead to the failure of the business as there was no cash resource that was sufficient to meet both its current and future commitments. The losses were attributed to very poor sales and margins lease provisions; inventory writes downs, as well as other asset impairments such as; Its revenue growth was mainly based on the commercial sales and store growth at very low margins. This led to the loose in the market share as the comparable sales were declining. The financial plan of the retailer required considerable supplier commitment, considerable financial commitment, as well as bank borrowings. Dick Smith had a larger store network as compared to its competitors thus a higher cost base as well as considerable reliance on and exposure to the fast moving office and computer product market. The inability of the iconic electronic retailer to obtain favorable credit terms had a great negative impact on the product mix, store presentation, and stock levels of the business. The management made inventory decisions that had no consistency with the consumer demand within the competitive market environment. The iconic electronic retailer was ultimately left with a considerable level of inactive and obsolete stock that required a major write-down. It also faced cash flow pressures that forced the breaching of banking covenants to a point where the remedy was impossible. Its clearance sales generated insufficient margin or sales to elevate the financial pressure the business was facing. The consumer electronic market is very competitive and is coupled with rapid changes in the consumer demand patterns. It hence required a drastic and strategic sales and marketing plan to meet the goals of the organization. Stakeholders of the business The major stakeholders of the business were the Anchorage Capital Partners Bill Wavish and Phillip Cave as they represented a private equity firm on the board of Dick Smith. The collapse of the business was grilled on the role of these two stakeholders. For instance, Mr. Cave fully corporate with the receivers on a claim of the private equity heists, an allegation that had been denied by the Anchorage Capital Partners. According to Yamey (2011, p. 89), customers are the primary stakeholders that determine the rise or fall of business. The failure of Dick Smith has also affected the customers since a business that was once an electric retail icon failed to a point of closure. Accounting theories explaining the actions of Dick Smiths management Positive accounting theory views a company or a business organization as the total of the contracts of the business. It posits that many retail businesses are fundamentally about the contracts that dictate the core values and goals of the business; efficiency is the core driver of the success of the business. Positive accounting theory hence examines the real life business occurrences as it seeks to understand and as well predict how the actual market addresses the accounting challenges and treatments. The theory hence looks into the actual world events and transactions as it examines how companies are accounting for the events with the focus on the economic consequences that affect the decision-making of the management. On the other hand, normative accounting theory takes an opposite approach by telling the accountancy policy makers of what needs to be done depending on the theoretical principle instead of focusing on what is already happening with the companies. It is thus more of a deductive process than positive accounting as it looks into both the theory and deductible policies other than just focusing on the accounting principles. About positive and normative accounting theories, the management and stakeholders of Dick Smith failed to account for the financial securities in a manner that hid the material changes and decision-making towards beneficial values that are pertinent to the success of the business. As a result, the daily entrepreneurship of the company no longer presented accurate accounting information and progress of its financial position. The normative theory also came into view with the management system of the business that finally leads to the fall of the retail. For instance, i t became difficult to judge whether the income and cost from the contract be immediately recognized, as a future lump sum, or incrementally be accepted with time according to Liveris (2011, p. 19). Both positive and normative accounting theories usually operate in monetary unit assumption, the going concern assumption, economic entity assumption, as well as the periodicity assumption. According to the positive theory, the actions of the business owner should be separate from the business activities while the going concern has it that the business will always continue without a bankruptcy or dissolution, an assumption that is made in the process of preparing the financial statements of the business. In the case of poor performance of the business, GAAP requires that the financial statements of the business be prepared in a reflection to the liquidation basis of the business holding (Wamrack 2014, p. 15). Comparison of different theories Positive theory requires the domination of the financial statements in relevant numerical currency depending on the business as opposed to the product units. The periodicity assumption breaks the business activities into fiscal periods as per the recurring financial annual or monthly reporting according to Rudolf (2011, p. 19). The primarily accepted business management principles require the adherence to the matching principle and the historical cost of the business. For instance, Dick Smith management would have ensured that the revenues and expenses matched into the period in which they occur so as to evaluate the predicted future performance of the business. Normative also called prescriptive theory is mainly concerned with the recommendation of accounting policies as well as the right way of practicing accounting policy. It is hence focused on deriving the true income of accounting assets and profit figures of business and thus makes it useful in the discussion of the useful information that can be adopted in making business decisions according to Husband (2010, p. 554). In the process of adopting the expensive expansion plans together with the surplus earning of the employees, the adoption of the normative theory is essential in the decision-making process. Adopting this theory in decision making would have saved Dick Smith from getting into significant borrowing deals that lead to the instability and fall of the whole business. Conclusion Accounting theory is a definitive and directive principle that is framed to analyze accounting practices. It is scientific as it is based on sound reasoning thus helps in solving complicated business issues that arise from the dynamic business environment. On the other hand, accounting practices records and analyzes accounting activities such the loss and profit of the business so as to evaluate the progress of the business. Accounting practices are thus a valid way of communicating the progress of the business. It is hence clear that accounting theory and accounting practices are closely related and interdependent as they are integral to each other. The management of Dick Smith retail business could have been more successful when it adopted both accounting theories and practices. References Coetsee,D,2010, "The role of accounting theory in the development of accounting principles",Meditari Accountancy Research, Vol. 18 Iss: 1, pp.1 - 16 Husband, R., 2011, "the Entity Concept in Accounting: The Accounting Review, October, Vol. 29(4) Pp552- 563. Liveris, A, 2011, Ethics in Business: Effective Business Planning, vol. 29, no. 3, pgs. 17-18 Osuala, C, 2015, Introduction to accounting theory, 3rd Edition, Enugu, Africana First Publishers Limited Rudolf, P, 2011, The Rising Powers from emerging markets: The changing face of International Business, The Global Strategy Journal, Vol. 10, no. 5, pgs. 15-20 Wamrack, W, 2014, The effectiveness of accounting theory and accounting practices: A management Perspective, International Business Journal, Vol.1, no. 2, pg.15 Yamey B, 2011, early views on the origins and Development on Book-Keeping and Accounting, Accounting and Business Research (Special Accounting History) issues, New York, Standard Text Press. Pp81-91

The Story of Inky Boys Essay Example

The Story of Inky Boys Essay Reader response criticism places vast autonomy of reading pleasure to the reader. The death of the author gives birth to the reader. This school of literary theory provides much attention to the reader as well as the readers experience over a literary work. According the theorists of this school of thought, the role of the reader Is critically Important In understanding of literature and actively seeking the meaning of the literary text. The Story of The Inky Boys Is a moral story and was written by Heimlich Hoffman for his children in 19th century. I personally feel that this is not ally a story about discrimination due to the differences in skin color. The whole text may be structured with some forms of offensiveness and negative implications. The black moor is the bullied subject to the white naughty kids. It means that minority is under the subjugation of colonial power. The inferior always lacks power and being submissive in the society. This is especially significant during the colonialism era during 1 5th -20th centuries. However, the subjugated minority may become the leader of the dominant group in the society one day as the black moor leads the white boys In the end. We will write a custom essay sample on The Story of Inky Boys specifically for you for only $16.38 $13.9/page Order now We will write a custom essay sample on The Story of Inky Boys specifically for you FOR ONLY $16.38 $13.9/page Hire Writer We will write a custom essay sample on The Story of Inky Boys specifically for you FOR ONLY $16.38 $13.9/page Hire Writer This tells us that a person with positive traits would not be always the looser Instead the negative traits a person has may cause him In trouble or suffering. This Is nothing to do with the skin color, background, social status differences of a person. The prominent emphasis on differences between the black and white could be nothing more than their social status. The moor: black, strange color trousers, green umbrella, shirtless, bare footed as well as untidy. While the whites: proper attire, clean and tidy. The stereotypical of the moor depicted in the Tory has remanded him to be the fun making object and discriminated. However, from a female point of view, I would say the writer himself also has some forms of discriminatory towards gender equality. It is so prominent that the story is basically male dominated/oriented because no single female has been included in the story. Does it Imply that female status is even lower than the moor? The irony of the story may rest on the three white little boys who response negatively to color black and perceive black as Inferior. They taunting the black moor and disobey Saint Nicholas device. Saint Nicholas gets rage and dips them In the giant Nippon. They are not only transformed into black but even worst the black moor. This implies negativity of a child could be improved as well as positivist could be destroyed without proper guidance. The author is using the satirical form of poetry to expose human weaknesses. He most probably would like to see and bring about improvement upon races and society. The tall Saint Nicholas symbolizes power and legislation of a nation. His strange attire may to inform about his hierarchy and status within the society. Anyone who challenges his hegemony would be punished as how the three disobedient kids did in the story. The giant Nippon signifies an ordeal for people to receive their punishment due to misbehaver or misconduct. On the other hand, it could also exemplify a community for the various races to get together and establish a common Identity to achieve integration. If base on Freudian theory, the goose feather could be referred to male Imagery or phallic symbols which Is related to the sexual aggression. On the other hand, the image of gigantic Nippon may stand-in for Nippon as the punishment they deserved from their misconduct. In terms of rhyme, in the end of every two lines of each stanza produces the same lyrical sound to arouse the pleasurable sense for enjoyment. This helps to capture the attention of the audience. The story has provided us with some valuable moral teaching to share with our children. The explicit meaning of this story underlies the importance of mutual understanding and respect among races. It is the parents responsibilities to impart positive traits to the young kids.

House Price Analysis

House Price Analysis Median sale price for houses The graph below will show the trend of median sale prices for the houses for from 1993 to 2012. The data is presented in quarters.Advertising We will write a custom essay sample on House Price Analysis specifically for you for only $16.05 $11/page Learn More From the graph above, it is evident that there is an upward trend of median sale prices in all the cities. The trend is upward from year to year in all the quarters. It is an indication of increasing prices of housing over the years. The growth can be attributed partly to increase in the inflation level and partly to increase in the level of economic activity in the regions. Inflation increased from 65.7 in the first quarter of review 104.5 in the last quarter (Rabinowitz 2004) Estimation of the mean The graph below shows the trend of the mean value of sale prices. The mean value of sale prices was increasing over time. It is shown by the upward trend of values over time. T his could be an indication of the structural increase in the long run and the equilibrium. This could also be as a result of an increase in interest rates. Increase in interest rates increases the cost housing thus increasing the sale price of houses. Simple linear time regression Regression analysis is a statistical tool that is used to develop and approximate linear relationships among various variables. Regression analysis formulates an association between several variables. When coming up with the model, it is necessary to separate between dependent and independent variables.Advertising Looking for essay on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More Regression models are used to predict trends of future variables. The section carries out a simple linear regression between the mean sale price of houses and time. The mean sale price will be the explained variable while the explanatory variable will be tim e (Arnott McMillen 2006) The regression line will take the form Y = b0 + b1X Y = Mean prices X = Time The theoretical expectations are b0 can take any value and b1 0. Regression Results The table below summarizes the results of the regression. Coefficients Standard Error t calculated Intercept -74738.9 1873.306 -39.8968 Time (X) 37.59659 0.93548 40.18962 R2 95.50% From the above table, the regression equation can be written as Y = -74738.9 + 37.59659 X. The intercept value is not dependent on the area of the house but on other factors such as the location of the house. The value captures all other factors that were not included when modelling the regression line. The coefficient value 37.59569 implies there is a positive relationship between mean sale price and time. The value of the coefficient of determination is high and it shows a strong positive relationship between the two variables.Advertising We will write a custom essay sample on House Price Analys is specifically for you for only $16.05 $11/page Learn More Real median prices Converting the nominal median sale prices to real median sale prices eliminates the effect of inflation. The real values are arrived at by using base year as a reference point and taking into account the consumer price index. Once the effect of inflation has been eliminated, one can now evaluate the real change in the median sale prices. From the calculations done, the real values are lower than the nominal values of median sale prices. However, the mean values still has the same trend as those for nominal median values as shown in the graph below. The graph above shows that there is an increase in the values for real sale prices over time. The results of the regression line are shown below. The regression line will take the form Y = b0 + b1X Y = Mean prices (real) X = TimeAdvertising Looking for essay on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More The theoretical expectations are b0 can take any value and b1 0. Regression Results The table below summarizes the results of the regression. Coefficients Standard Error t calculated Intercept -59995.3 2805.289 -21.3865 Time (X) 30.27972 1.400888 21.61466 R2 86.00% From the above table, the regression equation can be written as Y = -59995.3 + 30.27972 X. The intercept value is not dependent on the area of the house but on other factors such as the location of the house. The value captures all other factors that were not included when modelling the regression line. The coefficient value 30.27972 implies there is a positive relationship between mean sale price and time. The value of the coefficient of determination declined from 95.50% to 86%. The value is still high and it shows a strong positive relationship between the two variables. The growth in real sale prices between September 1993 and September 2003 is 157.08% while the growth between December 2003 and Septem ber 2012 is (7.16%). It can be deduced that there was a rapid growth in real sale prices between 1993 and 2003 thereafter the prices increased at a declining rate and thereafter started to decline. (Evans 2008). This could be an indication that the government is putting up measures to ensure that there are no serious fluctuations in the sale prices of houses every year (Edwards 2007). Rent The growth in real rent between September 1993 and September 2003 is 88% while the growth between December 2003 and September 2012 is 120%. It can be deduced that there was a rapid growth in real rent between Dec 2003 and 2012. The growth rate for the first nine years was 88%. Thus, it can be deduced that there is a general increase in the rent level in Sydney and its regions. The ratio of house prices to income increased over the period. In 1993, the ratio was 0.00883 in 1993. The value increased to 0.010211 in 2012. This can be attributed to an increase in rent over the years. There was an incre ase in the rental yield over the years. The rental yield in 1993 was 74.78%. The value declined to bout 43% in 2003 thereafter it started to raise. The rental yield in 2012 was 81.43%. The graph below shows the relationship between rental yield and the ratio of house prices to income (O’Sullivan 2011; O’Sullivan Gibb 2008) The graph above shows that there is a negative relationship between rental yield and the ratio of house prices and rent. This can be seen in the downward trend that can be seen in the points in the diagram above. Prices and rent series tend to move in the same direction (McMillen McDonald 2011; Arnott McMillen 2006). Explaining the relative movement of prices There has been rapid growth in the property prices in the regions. The growth between 1993 and 2003 was more rapid than the growth rate between 2003 and 2012. This can be attributed to government interventions to stabilize the price of housing (Riley 2009). References Arnold, R 2011, Economi cs, Cengage Learning, USA. Arnott, R McMillen, D 2006, A companion to urban economics, Blackwell Publishing Ltd., USA. Edwards, M 2007, Regional and urban economics and economic development: Theory and methods, Auerbach Publications, New Delhi. Evans, A 2008, Economics and land use planning, John Wiley Sons USA. Mankiw, G 2011, Principles of economics, Cengage Learning, USA. McMillen, D McDonald, J 2011, Urban economics and real estate: Theory and policy, Hamilton Printing Company, USA. O’Sullivan, A Gibb, K 2008, Housing economics and public policy, John Wiley Sons USA. O’Sullivan, A 2011, Urban economics, McGraw-Hill Education, USA. Rabinowitz, A 2004, Urban economics and land use in America: The transformation of cities in the twentieth century, M.E. Sharpe, USA. Riley, G 2009, Housing market economics digital textbook, Tutor2u Limited, USA.

Excoriating and Coruscating

Excoriating and Coruscating Excoriating and Coruscating Excoriating and Coruscating By Maeve Maddox Both excoriating and coruscating are verb forms used as adjectives. Excoriating is a hideous word. At least, its meaning is: excoriate (transitive verb): to pull off the skin or hide from (a man or beast) The word retains this literal meaning in the context of pathology to refer to the removal of skin by cutting, abrasion, or corrosion: Gastric secretions leaking around the gastrostomy can result in skin excoriation. Excoriate can also mean to strip bark from a branch or other part of a plant: A tree which does not fructify is often rendered fertile by an excoriation near its root. In general usage, excoriate is frequently used figuratively to mean, â€Å"to upbraid scathingly, decry, revile†: Feinstein excoriates CIA for spying on Senate committee Kerry excoriates Assad regime for ‘inexcusable’ chemical strike Coruscating, on the other hand, is a pretty word: coruscate (intransitive verb): to give forth intermittent or vibratory flashes of light; to shine with a quivering light; to sparkle, glitter, flash. From the Latin verb coruscare, â€Å"to vibrate, glitter, sparkle, gleam,† coruscate and its forms (often misspelled with two r’s) are used to describe lighting effects: now, when the ground was white with snow, and the forest trees covered with ice, and sparkling and corruscating [sic] in the rays of the sun, Nettie would shout with delight below, by the creek, a corruscating [sic] tendril of smoke drifted up through the trees. Figuratively, coruscating describes a lively witty writing style, the kind demonstrated by Oscar Wilde in The Importance of Being Earnest, a play devoid of malice. Ambrose Bierce and H.L. Mencken, on the other hand, made use of a lively, quick-witted coruscating style to excoriate the people and institutions they despised. For this reason the pretty word coruscating and the ugly word excoriating have collided like chocolate and peanut butter in a Reese’s candy ad. A few journalists seem to understand the meaning of coruscating, but a great many use it as if it meant excoriating: Michael Moore’s coruscating attack on the gun culture, Bowling for Columbine. [Julia Gillard] launched a coruscating attack in parliament on opposition leader Tony Abbott Iain Macwhirter launches coruscating attack on Alex Salmond and Rupert Murdoch Betsy Andreu, the wife of Lance Armstrongs former team-mate Frankie, who played a key part in exposing the Texan as a drug cheat, has launched a coruscating attack on the disgraced cyclist. Because of the confused idea that coruscating has something to do with negative comments, the word is frequently paired with review, critique and criticism: The Australian literary critic Clive James manages to produce coruscating reviews like his brutal attack on Dan â€Å"Da Vinci† Brown’s novel Inferno. But the most coruscating criticism came from Ankie Spitzer and Ilana Romana, two of the widows of the Munich Eleven Wow, a coruscating criticism of Sonys PS4 Another possible reason for the frequent misuse and misspelling of coruscate could be that speakers associate it with the meaning and spelling of corrosion. In the interest of saving coruscating to mean sparkling, the next time you want to characterize a verbal attack as extremely scathing, use excoriating. When you do have occasion to use coruscating, remember to spell it with one r. Want to improve your English in five minutes a day? Get a subscription and start receiving our writing tips and exercises daily! Keep learning! Browse the Misused Words category, check our popular posts, or choose a related post below:Math or Maths?One Sheep, Two Sheep, One Fish, Two Fish . . .Hyphenation in Compound Nouns

Economic Downturn Assignment Example | Topics and Well Written Essays - 2000 words

Economic Downturn - Assignment Example Therefore, in this paper, we will first look at the type of economic recessions that are determinable and then we will try and extrapolate the mechanisms which can be implemented by businesses I order to cope with the downturn. We are also of the opinion that budgeting encompasses a major part of any business's planning and forecasting activities, and takes a doubly important role in the time of recession, therefore, we would like focus on that aspect of business in our paper by providing a case analysis of a business and its budgeting process in times of recession which would help it recover from the murky economic conditions. We believe that this portion of survival mechanism is as important, if not more, than any other mechanism of survival which we will discuss in this paper. A large of number of bankrupt firms and work-outs have beset the financial market, yet the market has been able to soak up these fatalities and stronger limits on credit has quickly been able to restore the credit reserve to its original levels. This outcome will be a small period of decreased growth, maybe a negative GDP in a quarter and numerous volatilities in the credit and the financial markets in the way. It is pivotal to note that the decline in stock market prices was nearly 20% in 1998 but the recovery was as fast and strong after the decline. [1] In this case, our framework is simi... [1] Conventional Recession: In this case, our framework is similar and in fact has some aspects influenced by the structure programmed by the Resolution Trust Corp; which was created in a bid to ascertain homeowners were not thrown out of their abodes as well as allow the balance sheets to restore to normal for all the banking institutions that are in place, similar to the actions of 1990 in the aftermath of the oil crisis at that time. The outcome was decreased growth for 2 or 3 quarters in the doldrums and a more profound unconstructive effect on the economy. A gold rush for the better assets in the bond market and the poorly performing equity market would ensue. Assets sensitive to interest rate i.e. with large asset duration would perform exceptionally well in this time period and a depreciation in dollar will increase the likelihood of better returns on investments made in other currencies. This is the most likely scenario in our opinion. [2] Recession like the one seen in Japan: The worst possible scenario and what we consider to be the more unlikely is the current is the one the global economy becomes a model of the Japanese economy of the past whereby the whole economy would keep struggling forward at a snail's pace all the while unaware of which assets are not profitable and which institutions have been contaminated completely. The result would be slow yet steady decline in growth for a number of years with a steady decrease in housing valuation, smaller spending by the population and national investments and businesses in jeopardy. Value of national assets would reduce gradually and the dollar would decline in value. Assets in currencies other than the dollar and

Impact of Changes Brought by Rotterdam Rules Research Paper

Impact of Changes Brought by Rotterdam Rules - Research Paper Example Rotterdam Rules is the United Nations Convention for the International Carriage of Goods Wholly or Partly by Sea (Lannan). It was adopted on 11 December 2008 by the UN General Assembly and was signed on 23 September 2009 and was signed initially by 16 participating countries (Lannan). Later on, other countries also contributed to bringing the number up to a total of 21 (Lannan). Existing expansion to include door-to-door transport and extends the carriers responsibility for goods from the point of time when goods are received to the point of time when goods are delivered. (UN). The new Rotterdam Rules 2009 has a great impact on the carriers. This can be seen with respect to the changes in the provisions of liability and obligations. According to the Rotterdam Rules, the overall liability of the carrier has been increased exponentially. Under the convention, there will be a "uniform" liability regime instead of a "network" liability regime as long as there does not arise any conflict with any other international law. The various effects are discussed here as under. The convention has increased the maximum liability levels to 875 SDRs (...Imposition of liability on a carrier to ensure seaworthiness of vessel throughout the journey (UN). Increase in the limit of liability to 875 SDRs per package and 3 SDRs per kilogram (UN). Imposition of liability on carriers for a delay in delivery to an amount equal to "2.5 x the amount of freight of the cargo in question" (UN). Extension in the time to suit period by the cargo claimant against the carrier to 2 years (UN). Expansion of shipper's obligation and liability in terms of information available for hazardous cargo (UN). It supports widely the use of electronic commerce (UN). Containerization plays an important role in Rotterdam Rules and in-depth rules with details are provided (UN). Carrier's employees, agents, and independent contracts are allowed to have the same rights and obligations as enjoyed by the carrier as long as they are deemed to be "Maritime performing parties" (UN). We will now discuss the impact of this new convention with respect to the carriers, the performing parties, and the insurer. Impact on Carrier

Educational psychology Essay Example for Free

Educational psychology Essay Education in its general sense is a form of learning in which the knowledge, skills, and habits of a group of people are transferred from one generation to the next through teaching, training, or research. Education frequently takes place under the guidance of others, but may also be autodidactic. [1] Any experience that has a formative effect on the way one thinks, feels, or acts may be considered educational. Education is commonly divided into stages such as preschool, primary school, secondary school and then college, university or apprenticeship. A right to education has been recognized by some governments. At the global level, Article 13 of the United Nations 1966 International Covenant on Economic, Social and Cultural Rights recognizes the right of everyone to an education. [2] Although education is compulsory in most places up to a certain age, attendance at school often isnt, and a minority of parents choose home-schooling, e-learning or similar for their children. Contents [hide] 1 Etymology 2 History 3 Formal education 3. 1 Preschool 3. 2 Primary 3. 3 Secondary 3. 4 Tertiary (higher) 3. 5 Vocational 3. 6 Special 4 Other educational forms 4. 1 Alternative 4. 2 Indigenous 4. 3 Informal learning 4. 4 Self-directed learning 4. 5 Open education and e-learning 5 Development goals 5. 1 Internationalization 5. 2 Education and technology in developing countries 5. 3 Private v public funding in developing countries 6 Educational theory 6. 1 Purpose of schools 6. 2 Educational psychology 6. 3 Learning modalities 6. 4 Philosophy 6. 5 Curriculum 6. 6 Instruction 7 Economics 8 See also 9 References 10 External links Etymology[edit] Etymologically, the word education is derived from the Latin educatio (A breeding, a bringing up, a rearing) from educo (I educate, I train) which is related to the homonym educo (I lead forth, I take out; I raise up, I erect) from e- (from, out of) and duco (I lead, I conduct). [3] Education can take place in formal or informal educational settings. History[edit] Main article: History of education Nalanda, ancient center for higher learning Platos academy, mosaic from Pompeii Education began in the earliest prehistory, as adults trained the young of their society in the knowledge and skills they would need to master and eventually pass on. In pre-literate societies this was achieved orally and through imitation. Story-telling continued from one generation to the next. As cultures began to extend their knowledge beyond skills that could be readily learned through imitation, formal education developed. Schools existed in Egypt at the time of the Middle Kingdom. [4] A depiction of the University of Bologna, Italy, founded in 1088 Matteo Ricci (left) and Xu Guangqi (right) in the Chinese edition of Euclids Elements published in 1607 Plato founded the Academy in Athens, the first institution of higher learning in Europe. [5] The city of Alexandria in Egypt, founded in 330 BCE, became the successor to Athens as the intellectual cradle of Ancient Greece. There mathematician Euclid and anatomist Herophilus; constructed the great Library of Alexandria and translated the Hebrew Bible into Greek. European civilizations suffered a collapse of literacy and organization following the fall of Rome in AD 476. [6] In China, Confucius (551-479 BCE), of the State of Lu, was Chinas most influential ancient philosopher, whose educational outlook continues to influence the societies of China and neighbours like Korea, Japan and Vietnam. He gathered disciples and searched in vain for a ruler who would adopt his ideals for good governance, but his Analects were written down by followers and have continued to influence education in East Asia into the modern era. [citation needed] After the Fall of Rome, the Catholic Church became the sole preserver of literate scholarship in Western Europe. The church established cathedral schools in the Early Middle Ages as centers of advanced education. Some of these ultimately evolved into medieval universities and forebears of many of Europes modern universities. [6] During the High Middle Ages, Chartres Cathedral operated the famous and influential Chartres Cathedral School. The medieval universities of Western Christendom were well-integrated across all of Western Europe, encouraged freedom of enquiry and produced a great variety of fine scholars and natural philosophers, including Thomas Aquinas of the University of Naples, Robert Grosseteste of the University of Oxford, an early expositor of a systematic method of scientific experimentation;[7] and Saint Albert the Great, a pioneer of biological field research. [8] The University of Bologne is considered the oldest continually operating university. Elsewhere during the Middle Ages, Islamic science and mathematics flourished under the Islamic caliphate established across the Middle East, extending from the Iberian Peninsula in the west to the Indus in the east and to the Almoravid Dynasty and Mali Empire in the south. The Renaissance in Europe ushered in a new age of scientific and intellectual inquiry and appreciation of ancient Greek and Roman civilizations. Around 1450, Johannes Gutenberg developed a printing press, which allowed works of literature to spread more quickly. The European Age of Empires saw European ideas of education in philosophy, religion, arts and sciences spread out across the globe. Missionaries and scholars also brought back new ideas from other civilisations — as with the Jesuit China missions who played a significant role in the transmission of knowledge, science, and culture between China and Europe, translating works from Europe like Euclids Elements for Chinese scholars and the thoughts of Confucius for European audiences. The Enlightenment saw the emergence of a more secular educational outlook in Europe. In most countries today, education is compulsory for all children up to a certain age. Due to this the proliferation of compulsory education, combined with population growth, UNESCO has calculated that in the next 30 years more people will receive formal education than in all of human history thus far. [9] Formal education[edit] Systems of schooling involve institutionalized teaching and learning in relation to a curriculum, which itself is established according to a predetermined purpose of the schools in the system. School systems are sometimes also based on religions, giving them different curricula. Preschool[edit] Young children in a kindergarten in Japan Main article: Early childhood education Preschools provide education up to the age of between 4 and 8 when children enter primary education. Also known as nursery schools and as kindergarten, except in the USA, where kindergarten is a term used for primary education. Preschool education is important because it can give a child the edge in a competitive world and education climate. [citation needed] While children who do not receive the fundamentals during their preschool years will be taught the alphabet, counting, shapes and colors and designs when they begin their formal education they will be behind the children who already possess that knowledge. The true purpose behind kindergarten is to provide a child-centered, preschool curriculum for three to seven year old children that aimed at unfolding the childs physical, intellectual, and moral nature with balanced emphasis on each of them. [10] This period of education is very important in the formative years of the child. Teachers with special skills and training are needed at this time to nurture the children to develop their potentials. [citation needed] Primary[edit] School children line, in Kerala, India Main article: Primary education Primary (or elementary) education consists of the first 5–7 years of formal, structured education. In general, primary education consists of six or eight years of schooling starting at the age of five or six, although this varies between, and sometimes within, countries. Globally, around 89% of primary-age children are enrolled in primary education, and this proportion is rising. [11] Under the Education For All programs driven by UNESCO, most countries have committed to achieving universal enrollment in primary education by 2015, and in many countries, it is compulsory for children to receive primary education. The division between primary and secondary education is somewhat arbitrary, but it generally occurs at about eleven or twelve years of age. Some education systems have separate middle schools, with the transition to the final stage of secondary education taking place at around the age of fourteen. Schools that provide primary education, are mostly referred to as primary schools. Primary schools in these countries are often subdivided into infant schools and junior school. In India, compulsory education spans over twelve years, out of which children receive elementary education for 8 years. Elementary schooling consists of five years of primary schooling and 3 years of upper primary schooling. Various states in the republic of India provide 12 years of compulsory school education based on a national curriculum framework designed by the National Council of Educational Research and Training. Secondary[edit] Students working with a teacher at Albany Senior High School, New Zealand Main article: Secondary education In most contemporary educational systems of the world, secondary education comprises the formal education that occurs during adolescence. It is characterized by transition from the typically compulsory, comprehensive primary education for minors, to the optional, selective tertiary, post-secondary, or higher education (e. g. university, vocational school) for adults. Depending on the system, schools for this period, or a part of it, may be called secondary or high schools, gymnasiums, lyceums, middle schools, colleges, or vocational schools. The exact meaning of any of these terms varies from one system to another. The exact boundary between primary and secondary education also varies from country to country and even within them, but is generally around the seventh to the tenth year of schooling. Secondary education occurs mainly during the teenage years. In the United States, Canada and Australia primary and secondary education together are sometimes referred to as K-12 education, and in New Zealand Year 1–13 is used. The purpose of secondary education can be to give common knowledge, to prepare for higher education or to train directly in a profession. The emergence of secondary education in the United States did not happen until 1910, caused by the rise in big businesses and technological advances in factories (for instance, the emergence of electrification), that required skilled workers. In order to meet this new job demand, high schools were created, with a curriculum focused on practical job skills that would better prepare students for white collar or skilled blue collar work. This proved  to be beneficial for both employers and employees, for the improvement in human capital caused employees to become more efficient, which lowered costs for the employer, and skilled employees received a higher wage than employees with just primary educational attainment. In Europe, grammar schools or academies date from as early as the 16th century, in the form of public schools, fee-paying schools, or charitable educational foundations, which themselves have an even longer history. Community colleges offer nonresidential junior college offering courses to people living in a particular area. Tertiary (higher)[edit] Students in a laboratory, Saint Petersburg State Polytechnical University See also: Higher education and Adult education Higher education, also called tertiary, third stage, or post secondary education, is the non-compulsory educational level that follows the completion of a school providing a secondary education, such as a high school or secondary school. Tertiary education is normally taken to include undergraduate and postgraduate education, as well as vocational education and training. Colleges and universities are the main institutions that provide tertiary education. Collectively, these are sometimes known as tertiary institutions. Tertiary education generally results in the receipt of certificates, diplomas, or academic degrees. Higher education generally involves work towards a degree-level or foundation degree qualification. In most developed countries a high proportion of the population (up to 50%) now enter higher education at some time in their lives. Higher education is therefore very important to national economies, both as a significant industry in its own right, and as a source of trained and educated personnel for the rest of the economy. University education includes teaching, research, and social services activities, and it includes both the undergraduate level (sometimes referred to as tertiary education) and the graduate (or postgraduate) level (sometimes referred to as graduate school). Universities are generally composed of several colleges. In the United States, universities can be private and independent like Yale University; public and state-governed like the Pennsylvania State System of Higher Education; or independent but state-funded like the University of Virginia. A number of career specific courses are now available to students through the Internet. A liberal arts institution can be defined as a college or university curriculum aimed at imparting broad general knowledge and developing general intellectual capacities, in contrast to a professional, vocational, or technical curriculum. [12] Although what is known today as the liberal arts college began in Europe,[13] the term is more commonly associated with universities in the United States. [citation needed] Vocational[edit]. Carpentry is normally learned through apprenticeship. Main article: Vocational education Vocational education is a form of education focused on direct and practical training for a specific trade or craft. Vocational education may come in the form of an apprenticeship or internship as well as institutions teaching courses such as carpentry, agriculture, engineering, medicine, architecture and the arts. Special[edit] Main article: Special education In the past, those who were disabled were often not eligible for public education. Children with disabilities were often educated by physicians or special tutors. These early physicians (people like Itard, Seguin, Howe, Gallaudet) set the foundation for special education today. They focused on individualized instruction and functional skills. Special education was only provided to people with severe disabilities in its early years, but more recently it has been opened to anyone who has experienced difficulty learning. [14] Other educational forms[edit] Alternative[edit] Main article: Alternative education While considered alternative today, most alternative systems have existed since ancient times. After the public school system was widely developed beginning in the 19th century, some parents found reasons to be discontented with the new system. Alternative education developed in part as a reaction to perceived limitations and failings of traditional education. A broad range of educational approaches emerged, including alternative schools, self learning, homeschooling and unschooling. Example alternative schools include Montessori schools, Waldorf schools (or Steiner schools), Friends schools, Sands School, Summerhill School, The Peepal Grove School, Sudbury Valley School, Krishnamurti schools, and open classroom schools. To a greater or lesser degree, ideas from these experiments and challenges to the system may in time be adopted by the mainstream, as to a large degree has happened with kindergarten, an experimental approach to early childhood education developed by Friedrich Frobel in 19th century Germany. Other influential writers and thinkers have included the Swiss humanitarian Johann Heinrich Pestalozzi; the American transcendentalists Amos Bronson Alcott, Ralph Waldo Emerson, and Henry David Thoreau; the founders of progressive education, John Dewey and Francis Parker; and educational pioneers such as Maria Montessori and Rudolf Steiner, and more recently John Caldwell Holt, Paul Goodman, Frederick Mayer, George Dennison and Ivan Illich. Indigenous[edit] Na Schoolyard. Teaching indigenous knowledge, models, methods in Yanyuan County, Sichuan in China Main article: Indigenous education Indigenous education refers to the inclusion of indigenous knowledge, models, methods and content within formal and non-formal educational systems. Often in a post-colonial context, the growing recognition and use of indigenous education methods can be a response to the erosion and loss of indigenous knowledge and language through the processes of colonialism. Furthermore, it can enable indigenous communities to reclaim and revalue their languages and cultures, and in so doing, improve the educational success of indigenous students. [15] Informal learning[edit]. Main article: informal learning Informal learning is one of three forms of learning defined by the Organisation for Economic Co-operation and Development (OECD). Informal learning occurs in a variety of places, such as at home, work, and through daily interactions and shared relationships among members of society. For many learners this includes language acquisition, cultural norms and manners. Informal learning for young people is an ongoing process that also occurs in a variety of places, such as out of school time, in youth programs at community centers and media labs. Informal learning usually takes place outside educational establishments, does not follow a specified curriculum and may originate accidentally, sporadically, in association with certain occasions, from changing practical requirements. It is not necessarily planned to be pedagogically conscious, systematic and according to subjects, but rather unconsciously incidental, holistically problem-related, and related to situation management and fitness for life. It is experienced directly in its natural function of everyday life and is often spontaneous. The concept of education through recreation was applied to childhood development in the 19th century. [16] In the early 20th century, the concept was broadened to include young adults but the emphasis was on physical activities. [17] L. P. Jacks, also an early proponent of lifelong learning, described education through recreation: A master in the art of living draws no sharp distinction between his work and his play, his labour and his leisure, his mind and his body, his education and his recreation. He hardly knows which is which. He simply pursues his vision of excellence through whatever he is doing and leaves others to determine whether he is working or playing. To himself he always seems to be doing both. Enough for him that he does it well. [18] Education through recreation is the opportunity to learn in a seamless fashion through all of lifes activities. [19] The concept has been revived by the University of Western Ontario to teach anatomy to medical students. [19] Self-directed learning[edit]. Main article: Autodidacticism Autodidacticism (also autodidactism) is a contemplative, absorbing process, of learning on your own or by yourself, or as a self-teacher. Some autodidacts spend a great deal of time reviewing the resources of libraries and educational websites. One may become an autodidact at nearly any point in ones life. While some may have been informed in a conventional manner in a particular field, they may choose to inform themselves in other, often unrelated areas. Notable autodidacts include Abraham Lincoln (U. S. president), Srinivasa Ramanujan (mathematician), Michael Faraday (chemist and physicist), Charles Darwin (naturalist), Thomas Alva Edison (inventor), Tadao Ando (architect), George Bernard Shaw (playwright), Frank Zappa (composer, recording engineer, film director), and Leonardo da Vinci (engineer, scientist, mathematician). Open education and e-learning[edit] Main articles: Open education and E-learning In 2012, e-learning had grown at 14 times the rate of traditional learning. [clarification needed][20] Open education is fast growing to become the dominant form of education, for many reasons such as its efficiency and results compared to traditional methods. [21] Cost of education has been an issue throughout history, and a major political issue in most countries today. Open education is generally significantly cheaper than traditional campus based learning and in many cases even free. Many large university institutions are now starting to offer free or almost free full courses such as Harvard, MIT and Berkeley teaming up to form edX. Other universities offering open education are Stanford, Princeton, Duke, Johns Hopkins, Edinburgh, U. Penn, U. Michigan, U. Virginia, U. Washington, and Caltech. It has been called the biggest change in the way we learn since the printing press. [22] Many people despite favorable studies on effectiveness may still desire to choose traditional campus education for social and cultural reasons. [23] The conventional merit-system degree is currently not as common in open education as it is in campus universities, although some open universities do already offer conventional degrees such as the Open University in the United Kingdom. Presently, many of the major open education sources offer their own form of certificate. Due to the popularity of open education, these new kind of academic certificates are gaining more respect and equal academic value to traditional degrees. [24] Many open universities are working to have the ability to offer students standardized testing and traditional degrees and credentials. [citation needed] There has been a culture forming around distance learning for people who are looking to enjoy the shared social aspects that many people value in traditional on-campus education, which is not often directly offered from open education. [citation needed] Examples of this are people in open education forming study groups, meetups and movements such as UnCollege. Development goals[edit] World map indicating Education Index (according to 2007/2008 Human Development Report) Russia has more academic graduates than any other country in Europe. [when? ] (Chart does not include population statistics. ) Since 1909, the ratio of children in the developing world going to school has increased. Before then, a small minority of boys attended school. By the start of the 21st century, the majority of all children in most regions of the world attended school. There are 73 million children,[clarification needed] mostly female children in poor families, who did not start elementary school. There are more than 200 million children, mostly females from poor families, who did not go to secondary school. [25] Universal Primary Education is one of the eight international Millennium Development Goals, towards which progress has been made in the past decade, though barriers still remain. [26] Securing charitable funding from prospective donors is one particularly persistent problem. Researchers at the Overseas Development Institute have indicated that the main obstacles to receiving more funding for education include conflicting donor priorities, an immature aid architecture, and a lack of evidence and advocacy for the issue. [26] Additionally, Transparency International has identified corruption in the education sector as a major stumbling block to achieving Universal Primary Education in Africa. [27] Furthermore, demand in the developing world for improved educational access is not as high as foreigners have expected. Indigenous governments are reluctant to take on the recurrent costs involved. There is economic pressure from those parents who prefer their children to earn money in the short term rather than work towards the long-term benefits of education. [citation needed] A study conducted by the UNESCO International Institute for Educational Planning indicates that stronger capacities in educational planning and management may have an important spill-over effect on the system as a whole. [28] Sustainable capacity development requires complex interventions at the institutional, organizational and individual levels that could be based on some foundational principles: national leadership and ownership should be the touchstone of any intervention; strategies must be context relevant and context specific;[clarification needed] they should embrace an integrated set of complementary interventions, though implementation may need to proceed in steps;[clarification needed] partners should commit to a long-term investment in capacity development, while working towards some short-term achievements; outside intervention should be conditional on an impact assessment of national capacities at various levels; a certain percentage of students should be removed for improvisation of academics (usually practiced in schools, after 10th grade). Internationalization[edit]. Nearly every country now has Universal Primary Education. Similarities — in systems or even in ideas — that schools share internationally have led to an increase in international student exchanges. The European Socrates-Erasmus Program[29] facilitates exchanges across European universities. The Soros Foundation[30] provides many opportunities for students from central Asia and eastern Europe. Programs such as the International Baccalaureate have contributed to the internationalization of education. The global campus online, led by American universities, allows free access to class materials and lecture files recorded during the actual classes. Education and technology in developing countries[edit]. The OLPC laptop being introduced to children in Haiti Technology plays an increasingly significant role in improving access to education for people living in impoverished areas and developing countries. There are charities dedicated to providing infrastructures through which the disadvantaged may access educational materials, for example, the One Laptop per Child project. The OLPC foundation, a group out of MIT Media Lab and supported by several major corporations, has a stated mission to develop a $100 laptop for delivering educational software. The laptops were widely available as of 2008. They are sold at cost or given away based on donations. In Africa, the New Partnership for Africas Development (NEPAD) has launched an e-school program to provide all 600,000 primary and high schools with computer equipment, learning materials and internet access within 10 years. [31] An International Development Agency project called nabuur. com,[32] started with the support of former American President Bill Clinton, uses the Internet to allow co-operation by individuals on issues of social development. India is developing technologies that will bypass land-based telephone and Internet infrastructure to deliver distance learning directly to its students. In 2004, the Indian Space Research Organization launched EDUSAT, a  communications satellite providing access to educational materials that can reach more of the countrys population at a greatly reduced cost. [33] Private v public funding in developing countries[edit] Research into low cost private schools found that over 5 years to July 2013, debate around low-cost private schools to achieving Education for All (EFA) objectives was polarised and finding growing coverage in international policy. [34] The polarisation was due to disputes around whether the schools are affordable for the poor, reaching disadvantaged groups, provide quality education, supporting or undermining equality, and are financially sustainable. The report examined the main challenges that development organisations which support LCPSs have encountered. [34] Surveys suggest these types of schools are expanding across Africa and Asia and is attributed to excess demand. These surveys also found concern for: Equity, widely found in the literature, as the growth in low-cost private schooling may be exacerbating or perpetuating already existing inequalities in developing countries, between urban and rural populations, lower- and higher-income families, and between girls and boys. The report says findings are that LCPSs see evidence girls are underrepresented and that they are reaching some low-income families, often in small numbers compared with higher-income families. Quality of provision and educational outcomes: You cannot generalise about the quality of private schools. While most achieve better results than government counterparts, even after their social background is taken into account, some studies find the opposite. Quality in terms of levels of teacher absence, teaching activity and pupil to teacher ratios in some countries are better in LCPSs than in government schools. Choice and affordability for the poor: parents can choose private schools because of perceptions of better-quality teaching and facilities, and an English language instruction preference. Nevertheless, the concept of ‘choice’ does not apply in all contexts, or to all groups in society, partly because of limited affordability (which excludes most of the poorest) and other forms of exclusion, related to caste or social status. Cost-effectiveness and financial sustainability: Evidence is that private schools operate at low cost by keeping teacher salaries low, but their financial situation may be precarious where they are reliant on fees from low-income households. The report said there were some cases of successful voucher and subsidy programmes; evaluations of international support to the sector are not widespread. [34] Addressing regulatory ineffectiveness is a key challenge. Emerging approaches stress the importance of understanding the political economy of the market for LCPSs, specifically how relationships of power and accountability between users, government and private providers can produce better education outcomes for the poor. A class size experiment in the United States found that attending small classes for 3 or more years in the early grades increased high school graduation rates of students from low income families. [35] Main article: Educational theory Purpose of schools[edit] Individual purposes for pursuing education can vary. The understanding of the goals and means of educational socialization processes may also differ according to the sociological paradigm used. In the early years of schooling, the focus is generally around developing basic interpersonal communication and literacy skills in order to further ability to learn more complex skills and subjects. After acquiring these basic abilities, education is commonly focused towards individuals gaining necessary knowledge and skills to improve ability to create value and a livelihood for themselves. [36] Satisfying personal curiosities (education for the sake of itself) and desire for personal development, to better oneself without career based reasons for doing so are also common reasons why people pursue education and use schools. [37] Education is often understood to be a means of overcoming handicaps, achieving greater equality and acquiring wealth and status for all (Sargent 1994). Learners can also be motivated by their interest in the subject area or specific skill they are trying to learn. Learner-responsibility education models are driven by the interest of the learner in the topic to be studied. [38] Education is often perceived as a place where children can develop according to their unique needs and potentialities[39] with the purpose of developing every individual to their full potential. Educational psychology[edit] Main article: Educational psychology Educational psychology is the study of how humans learn in educational settings, the effectiveness of educational interventions, the psychology of teaching, and the social psychology of schools as organizations. Although the terms educational psychology and school psychology are often used interchangeably, researchers and theorists are likely to be identified as educational psychologists, whereas practitioners in schools or school-related settings are identified as school psychologists.

panama canal :: essays research papers

The Panama Canal is one of the greatest works of engineering and modern achievements of mankind. An all-water passage through the continental divide of the Panama region had been suggested since early Spanish colonial times of the 16th century. The reality of a canal through the Isthmus of Panam In the 16th century, Europeans dreamed of building a ship canal across the Isthmus of Panama. Spanish kings considered building a canal to carry treasure from their South American colonies back to Spain, but no attempt was made. Such a project only became possible in the 19th century, wPart of Teddy Roosevelt’s dream of making America a global power was realized through the construction of the Panama Canal. The French began construction in 1880 but nine years and about 20,000 lives later they realized their plans were flawed and abandoned the project. Panama declared independencThe history of the Panama Canal goes back to the 16th century. After realizing the riches of Peru, Ecuador, and Asia, and realizing how long it took the gold to reach the ports of Spain, someone suggested to Charles V, that by cutting out a piece of land somewhere in Panama,   Ã‚  Ã‚  Ã‚  Ã‚  The year is 1835, and an announcement is mad eby a group of American busnessmen. This announcement is of their intention to build a canal system on the ithsmus of landformerly known as Norhtern Calumbia. That land is now known as Panama. The citizens of the U.S. at that time were i  Ã‚  Ã‚  Ã‚  Ã‚  Panama Canal is a waterway that cuts across the Isthmus of Panama and links the Atlantic Ocean and the Pacific Ocean. It ranks as one of the greatest engineering achievements in the world. Thousands of laborers worked on it for about 10 years, using steam shovels and dredgesIs it really worth building a canal in Nicaragua? With news of Nicaragua adopting the idea of a dry canal the first question that should come to mind is, is it really worth building a canal in Nicaragua? Many people look at Panama with its enviable economy and say that Nicaragua needs a canal but thThe canal is joining the Atlantic and Pacific oceans.

Charles Dickens create his characters Essay

Charles Dickens is a great writer who has been successful throughout his life. He has written many novels for all age groups which consist of ‘Great Expectations’ (1860-61) and ‘Hard Times’. Dickens techniques of writing were much noticed by readers, especially his ways of creating characters. There are a number of ways to how dickens would create his characters, he places them in revealing or appropriate settings and describes their physical appearance. He also, allows them to speak so that we hear their vocabulary and tone of voice. His characters actions and movements are well described because he shows how other characters react to them. To understand dickens techniques more clearly, I will be investigating two characters, Abel Magwitch of ‘Great Expectations’ and Thomas Gradgrind of ‘Hard Times’. ‘Great Expectations’ is about a young orphan named Philip Pirrip, known as Pip. The novel has been set in the Kent Marshes. Pip lives with his shrewish sister and her husband, the simply, kindly, blacksmith Joe Gargery. Chapter one of this novel opens in the country churchyard where Pip is terrified by the appearance of Magwitch, an escaped prison convict who threatens him with awful vengeance unless some food and file for his fetters are obtained smartly. Pip manages to hide some of his own supper, steals more food from the pantry, and after an encounter with a different younger convict, he finds the original one and leaves him filing off his irons. The setting of ‘Great Expectations’ is in the Kent Marshes. Pips first meeting with Magwitch was in the nearby churchyard. â€Å"At such a time I found out for certain, that this bleak place overgrown with nettles was the churchyard†. Dickens uses the adjective ‘bleak’ which also means ‘bare’ and ‘dreary’ this suggests that the churchyard is a place that doesn’t get many visitors. Also ‘overgrown with nettles’ implies to us that the churchyard isn’t cared for, it contains sharp and unpleasant plants which doesn’t attract visitors. Therefore, we can understand why Magwitch chose to hideout at the churchyard, it is a good place for a convict to hide. Dickens also uses the adjective ‘raw’ which also supports the idea of an unattractive churchyard. The synonyms for the word raw are chilly and damp; these two words strongly describe the churchyard as an isolated area. ‘Raw’ is a harsh and cold word. The reader may also consider the churchyard as a boring and timid place because dickens has used ‘low leaden line of river’. This describes the river as a heavy, dark and foreboding line cutting across the churchyard. Dickens has deliberately described the churchyard as a boring place with these negative adjectives in order to make the reader believe that it has no visitors. Once again this implies that the churchyard is a good hideout for Magwitch. By now, it is noticeable that the setting in ‘Great Expectations’ reflects Magwitch’s character because Dickens also describes the churchyard ‘with scattered cattle’ which suggests an unpleasant place that is not taken care of very much. The term ‘savage lair from which the wind was rushing’ is a metaphor which is an implicit comparison. It is the application of a word or phrase to somebody or something that is not meant literally, but to make a comparison. The same way, this metaphor brings the wind out to life and impersonates it as a wild animal by using the noun ‘lair’. A ‘lair’ is a den or hiding place where predators would hide from preys, this relates back to Magwitch whom is hiding just like a predator and preys out to poor little orphan Pip. Dickens creates a negative impression of Magwitch by the way he describes him because he uses terms such as ‘A man’. Straight away this puts a mysterious thought to the readers mind. At this point the reader is busy building up an image of Magwitch in their minds. Dickens also describes Magwitch in ‘coarse grey’ uniform, this gives the reader a full image in their minds of Magwitch as a prison convict, which builds up the negative impression. The adjective ‘coarse’ is a synonym for ‘rough’ and ‘harsh’ which allows the reader to consider Magwitch as an untidy and messy person. In order to make it sound more obvious that Magwitch is an escaped convict Dickens uses terms such as ‘iron on legs’. This suggests to us that Magwitch has shackles on his legs which bring the reader to certainty that Magwitch is an escaped convict. He is a bad man; Dickens has also mentioned that Magwitch is not wearing a hat. This implies that Magwitch is no gentleman, he is not well bred and he doesn’t have a decent background. Dickens describes Magwitch through a list of injuries he faces. ‘soaked in water’, ‘smothered in mud’, ‘lamed by stones’, ‘cut by flints’, ‘stung by nettles’ and ‘torn by briars’. Dickens has listed all these injuries to show how Magwitch has been through a lot. He has travelled tough which suggests that he was very determined to get out of prison. It also suggests that Magwitch is a strong and fearful man who is able to resist a lot, he is a frightening man. â€Å"Old rag tied around his head†. From this we can understand that Magwitch is trying to hide his injury or as a disguise. We can understand that Dickens has done a clever job with creating a negative impression of Magwitch. Dickens has deliberately used the name Magwitch which also creates a negative impression because it contains the word ‘witch’. This symbolises ‘evil’ and ‘fear’. Dickens has used exclamation marks to illustrate shouting. â€Å"Tell us your name! Said the man†. From this technique we can understand that Magwitch was a very temperamental and violent man. â€Å"Pint out the place†, this suggests that his accent is also different. Dialect has been used which is when a characters speech is often grammatically incorrect. In Magwitch’s case, his use of dialect suggests to us that he has lack of education. We can understand that he may have been on the prison ship for a long time. Magwitch is also very violent as he speaks. He threatens Pip in a way to show readers that he is the villain of this novel. Also, we can realise that Dickens has made Magwitch’s speech short with shuddering sentences. This implies that Magwitch is afraid of being caught; he is shortening his sentence to hurry up the conversation and get back into hiding. Dickens has also used imperatives, â€Å"You get me a file†. Imperatives are performed by a character to give orders; they are used to express a command or request. Magwitch has used his power advantage. Dickens has also used strong language which reflects Magwitch’s character once again, ‘uncouth and coarse’. Magwitch’s actions are very violent and threatening. While threatening little Pip he tends to keep looking over his shoulder. This implies that he is nervous and afraid of getting caught. The violence side of Magwitch is exposed when he turns Pip upside down and shakes him. By now, the reader is afraid of Magwitch, and he is definitely the villain of this novel. However, the reader may also feel pity for Magwitch from the way he limps and shivers. This explains how Dickens was able to create two sides of the character Magwitch, this way the reader is able to feel some sympathy but, they are also afraid of him because he is a criminal and he is relying on the help of a child. Magwitch tries to be evil, but between that he shows his vulnerable side. Dickens uses adjectives such as ‘ravenously’. The purpose of this is to give the reader an image of a wild animal in their minds. Dickens is comparing Magwitch with a wild animal to once again remind the reader that Magwitch is uneducated and deprived. Magwitch used his gaze to overpower Pip. This suggests that Dickens was able to write in a way to show who’s in power. Also, Magwitch tilts Pip over a grave to frighten him and show power. However, we can understand from the novel that Magwitch is also afraid of the graves as he creeps over them.

Health Law and Regulations Essay

In understanding regulatory agencies the differences between regulation and legislation needs defining. Legislation is the law that has been passed by a voting process and regulation is the responsibility of the regulatory board appointed to enforce laws once the law is passed; it sets forth rules on how the laws are to be implemented and to what degree. In health care the Department of Health and Human Services (HHS) has the predominant responsibility to enforce legislation that impacts the health and well-being of Americans. Under the umbrella of HHS there are 13 regulatory agencies tasked with setting rules on the enforcement of the legislation passed by lawmakers. Regulatory Agencies Two of the most influential regulatory agencies within HHS are the United States Food and Drug Administration (FDA) and the Center for Medicare and Medicaid Services (CMS), these two agencies have substantial influence on every aspect of health care delivery. The FDA is responsible for protecting and promoting public health through the regulation and supervision of food safety, medical devices, drugs, vaccines, blood products and biologics. In addition, they monitor medical errors and adverse reactions and reporting such to providers, (U.S. Department of Health and Human Services, 2011). CMS controls the Medicare program and works in collaboration with state governments to oversee Medicaid, and the State Children’s Health Insurance Program (SCHIP). In addition to these responsibilities, CMS dispenses criteria from the Health Insurance Portability and Accountability Act of 1996 (HIPAA), surveys and certifies quality standards in long-term care facilities, and clinical laboratories, (Centers for Medicare and Medicaid Services). The proportion of national health spending sponsored by both federal, state, and local governments was 45% in 2010, a significant source of revenue depended on by providers of health care, (Centers for Medicare and Medicaid Services, 2011). Current FDA Regulations The Patient Protection and Affordable Care Act (PPAC Act), amended the Public Health Service Act (PHS Act) to create a shortened authorization route for medications found to be â€Å"highly similar† or â€Å"interchangeable† with an FDA-approved medication, (U.S. Department of Health and Human Services, 2011). The goal is similar to the Drug Price Competition and Patent Term Restoration Act of 1984 (â€Å"Hatch-Waxman Act†), which produced condensed methods for the approval of drug products under Federal Food, Drug, and Cosmetic Act (FFD&C Act). The outcome is aimed at the FDA’s instituted policy of allowing confidence on what is already known about a drug, thus protecting time and resources, (U.S. Department of Health and Human Services, 2011). To help increase access to affordable prescription medications, the FDA implemented measures to expedite the development and approval of generic drugs. Generic drugs cost 50 to 70% less than their brand-name counterparts equating to a savings of eight to ten billion dollars a year at retail pharmacies, (Crawford, June). These savings do not include the use of generic drugs in an institutional setting. PPAC expands on the practice of generic drugs and incorporates using medications that have the same efficacy as another more expensive medication leading to more options in the prescribing of medications. The practice of using generic drugs is not without concern. As evidenced by the case Pliva v. Mensing where the question was; the safety standards for brand-name drug labeling also apply to generic-drug manufacturers. The patients in the case took the generic drug metoclopramide and developed tardive dyskinesia, which was listed on the label. The patients argued the warning was not adequate and the manufacturer argued the â€Å"changes being effected† process was not available to generic-drug manufacturers because the FDA requires labels for generic versions of drugs to be identical to those of the brand-name drugs, (Glantz & Annas, 2011). The FDA upheld the manufacturer’s claim although the FDA added the manufacturer had a responsibility to request a label change if the manufacturer knew a stronger warning was needed to market the drug safely. The court found in favor of the manufacturer stating â€Å"federal law still preempted injured patients from bringing lawsuits in state courts, because the state laws in question require a safer label, not communicating with the FDA about the possibility of creating a safer label,† (Glantz & Annas, 2011, p. 682). Despite this regulatory standing, a controversial issue may entail for the FDA in the allowance of medications to be â€Å"interchanged† to promote an additional avenue for savings in prescription medications. Much foresight needs to be included to protect the safety and well-being of patients. Current CMS Regulations The Health Information Technology for Economic and Clinical Health (HITECH) Act, part of the American Recovery and Reinvestment Act of 2009 (ARRA), is legislation aimed at the adoption and â€Å"meaningful use† of health information technology. CMS was authorized to establish incentive programs for eligible Medicare and Medicaid providers who adopt, implement, upgrade, or â€Å"meaningfully use† certified electronic health records (EHR). The term â€Å"meaningful use† is an acknowledgement that improved health care is not the product of technology but a method to exchange and use health information to support clinical decisions at the point of care. To qualify for CMS’ incentive program the provider must obtain certified electronic health record technology. An incentive of $44 thousand can be achieved by an eligible professional who shows â€Å"meaningful use† over a five year period. Hospitals implementing a certified EHR system can qualify for a t wo million dollar base payment. In 2015 Medicare will implement a reduction in payment to those not displaying â€Å"meaningful use†. The decrease in payment begins at one percent and rises each year that hospitals and providers receiving Medicare payments do not make evident â€Å"meaningful use,† to a maximum reduction of five percent, (Centers for Medicare and Medicaid Services, 2011). The use of EHRs is encouraged by touting improved efficiency, cost-effectiveness, quality, and safety of health care delivery. A study on the use of EHR in 2952 hospitals in the United States revealed 12% of hospitals had instituted electronic physicians’ notes across all clinical units and 17% had instituted computerized provider-order entry for medications in all clinical units, (Jha, et al., 2009). The cited barriers to implementation of EHR were inadequate capital (74%), maintenance costs (44%), resistance of physicians (36%), unclear return on investment (32%), and lack of available staff with expertise i n information technology (30%), (Jha, et al., 2009). Ironically, the hospitals who had implemented the use of EHRs cited financial reasons such as additional compensation for electronic health record use (82%) and financial enticements for implementation (75%), (Jha, et al., 2009). The estimated cost of purchasing, installing, and implementing an EHR system in a provider’s office is approximately $40,000 and this figure does not reflect the cost of maintenance, (Blumentha, 2009). A survey by the American Hospital Association revealed â€Å"the median annual capital investment on information technology was over $700,000 and represented 15% of all capital expenses. Operating expenses were much higher at $1.7 million, or 2 percent of all operating expenses,† (National Institutes of Health, 2006, p. 18). Although there are indisputable reasons for implementing an EHR system, CMS’ incentive program is merely a pittance compared to the ongoing costs of operational expenses. The concept of all health care providers possessing an EHR system is ideal. As with any form of electronic technology comes the prospect of personal information being violated. The Health Insurance Portability and Accountability Act (HIPAA) does provide for penalties from $100 to $1.5 million, depending on the violation and whether it was done unknowingly or willfully and can include imprisonment up to 10 years. HIPAA protects the health information of individuals; â€Å"it does not create a private cause of action for those aggrieved,† (The General Counsel Department of Health and Human Services, 2005). Conclusion Federal regulatory agencies are a necessity to interpret and assist in the implementation of legislation. Without federal regulatory agencies the United States would have over 50 different interpretations on one piece of legislation. The FDA and CMS play a significant role in the ever changing health care arena. The FDA is based on scientific integrity evidenced by the recent publication of defined key principles of scientific integrity. Through this commitment to scientific integrity and quality the FDA provides medical safety to the American people. Through research and establishing guidelines the FDA has been instrumental in making generic drugs available to the public, saving them more than eight billion dollars annually. The PPAC tasked the FDA has been tasked with expanding on the generic drug practice by discovering medications that have the same efficacy as another medications leading to more cost saving options in the prescribing of medications. CMS has been tasked with implementing HITECH that has the promise of decreasing costs and errors in health care delivery. This is a lofty goal with over 80 percent of the United States hospitals without any type of electronic health record in place. The financial incentive provided by the federal government through CMS does not seem to be enough of a motivator to encourage the financial commitment of an EHR. Although, after 2015 when hospitals and providers have not demonstrated â€Å"meaningful use† these providers of Medicare services may be more inclined when losing one percent of their Medicare payments. These regulatory agencies and the legislation cited in this paper are a minute representation of the responsibility and obligation the federal agencies have to protect the well-being of the American people. The cited legislation delegated to these regulatory agencies is not only focused on health but financial constraint and safety of the American people. References Blumentha, D. (2009, April 9). Stimulating the Adoption of Health Information Technology. Retrieved from The New England Journal of Medicine: http://www.nejm.org/doi/full/10.1056/NEJMp0901592 Centers for Medicare and Medicaid Services. (2011, October 17). Medicare and Medicaid EHR Incentive Program Basics. Retrieved from CMS.gov: https://www.cms.gov/EHRIncentivePrograms/35_Basics.asp Centers for Medicare and Medicaid Services. (2011, September). National Health Expenditures 2010: Sponsor Highlights. Retrieved from CMS.gov: https://www.cms.gov/NationalHealthExpendData/downloads/sponsors.pdf Centers for Medicare and Medicaid Services. (n.d.). About us. Retrieved from CMS.gov: http://www.cms.gov/home/aboutcms.asp Crawford, L. (June, 23 2004). The Law of Biologic Medicine. Retrieved from FDA: http://www.fda.gov/NewsEvents/Testimony/ucm113745.htm Glantz, L., & Annas, G. (2011, August 25). Impossible? Outlawing State Safety Laws for Generic Drugs. Retrieved from The New England Journal of Medicine: http://www.nejm.org/doi/full/10.1056/NEJMp1107832 Jha, A., DesRoches, C., Campbell, E. G., Donelan, K., Rao, S., Ferris, T., . . . Blumenthal, D. (2009, April 16). Use of Electronic Health Records in U.S. Hospitals. Retrieved from The New England Journal of Medicine: http://www.nejm.org/doi/full/10.1056/NEJMsa0900592#t=articleBackground National Institutes of Health. (2006, April). Electronic Health Records Overview. Retrieved from National Institutes of Health: http://www.ncrr.nih.gov/publications/informatics/EHR.pdf The General Counsel Departmentof Health and Human Services. (2005, June 1). SCOPE OF CRIMINAL ENFORCEMENT UNDER 42 U.S.C.  § 1320d-6. Retrieved from The United States Department of Justice: http://www.justice.gov/olc/hipaa_final.htm U.S. Department of Health and Human Services. (2011, November 16). FDA Fundamentals. Retrieved from About FDA: http://www.fda.gov/AboutFDA/Transparency/Basics/ucm192695.htm U.S. Department of Health and Human Services. (2011, March 10). Implementation of the Biologics Price Competition and Innovation Act of 2009. Retrieved from U.S. Food and Drug Administration: http://www.fda.gov/Drugs/GuidanceComplianceRegulatoryInformation/ucm215089.htm