Standard Of Treatment Mayo Clinic Health And Social Care Essay

Mayo clinic is a group of non-profit organisations dwelling of infirmaries and research centres runing in three geographical countries Minnesota, Arizona and Florida. There are some nomadic infirmaries and research centres working in the nearby countries of these wellness attention centres such as Franciscan Skemp Medical Center in La Crosse, Wisconsin. The Mayo group consists of Mayo medical schools, Mayo alumnus schools, Mayo graduate medical schools and wellness attention centres that are affiliated with mayo clinic. Mayo clinic is celebrated for it ‘s up to day of the month engineering and advanced ways of intervention qualified physicians and research on different diseases. It provide consultancy to the difficult to diagnosed patients who are non diagnosed by the other physicians and intervention for their jobs. Mayo clinic comes within top 20 infirmaries in the universe ranking for its advanced interventions and research because it allocates 40 % of their resources to the research. They maintain high quality criterions through their values like â€Å" The demands of the patient ever come first † .Background and History:Mayo clinic started as individual outpatient installation and now go the choice criterion in USA due to its effectual direction and cost economy policies. Dr. William Worrall Mayo along with his two boies William James Mayo and Charles Horace Mayo had laid the foundation of Mayo clinic. The other Mayo Clinic laminitiss are Drs. Mayo, Dr. Stinchfield, Dr. Graham, Dr. Henry Plummer, Dr. Millet, Dr. Judd, and Dr. Balfour. In the get downing the net incomes of the organisation were shared among the spouses and wage was paid to the other hired staff by the spouses. In 1846 Dr. William Worrall Mayo joined the Mayo clinic as a physician after migration from United Kingdom to the United States. In 1919 the net income oriented organisation was changed into the non net income organisation â€Å" Mayo Properties Association † . The Mayo brothers transferred all the clinic belongings, trappingss and everything to the freshly established association. In 1892, Dr. Augustus Stinchfield who was considered to be the best physician in the little towns near Rocheste to fall in Mayo clinic and when Dr. Stinchfield joined the laminitis physician W.W. Mayo retired from the Mayo Association at the age of 73 old ages. Dr. Henry Stanley Plummer who is considered to be the â€Å" designer of the modern medical pattern † joined the Mayo clinic as a spouse and started pattern in 1901. He designed many advanced systems that are worldwide used today such as single dossier-style medical record and an complecting telephone system. Dr. Plummer is besides known for presenting the diagnostic and clinical facets of the pattern. Mayo brothers excelled their accomplishments in surgery. In 1907 Dr. Louis B. Wilson was hired to carry through Dr. Plummer ‘s plane to set up research and diagnostic research labs. In 1928 Plummer Building was designed by Johnathan Willian Dawson and Ray Corwin wit the inputs from the Mayo clinic staff and was tallest edifice in the Minnesota until the Foshay Tower was built in Minneapolis. This edifice was included in National Register of Historic Places in 1969. The Ellerbe house has besides constructed in 1914 Mayo â€Å" Red † edifice, the 1922 Mayo Institute of Experimental Medicine, the 1927 â€Å" Plummer † edifice and the Nayo edifice in 1954. The Mayo campus in Rochester approximately occupies the three clip s country than the Mall of America. In 1998 new edifice of Mayo infirmary was constructed in East Mayo Boulevard Phoenix and it occupies country of 210 estates site. This edifice contains 244 accredited beds, 18 operation suites and the exigency section of degree II.Patients Served at Mayo ClinicMayo clinic has been supplying wellness attention installations for 100 old ages. Every twelvemonth more than 500,000 patients get installati ons from more than 150 states of the universe. More than 3,700 doctors and scientists and 49,000 medical support staff are working in Arizona, Florida and Minnesota. The patients receive doctor ‘s consultancy and medical trial before concluding medical examination really rapidly and patients are operated surgically in the really following twenty-four hours. Due to good direction the patients do n't hold to wait for many yearss for their bend of operation. The ranking of the Mayo clinic is really good. The information of 2009 shows that 62,400 patients were admitted out of which 29,883 inmate and 21,035 outpatient surgeries. In exigency visits of patients were reported to be 79,542. The visits of greater no of people show their trust on the infirmary.Community ServedThe BASIC of the Mayo clinic is to fulfill the wellness demands and work out the relation of the people. Mayo believes that their premier map is to function the patients with welcoming, gracious and healthy attitude . The spouses of the Mayo besides try to keep the nucleus values and maintain their criterions. They non merely ease the patients but besides provide consultancy to the health care issues. They besides provide the nutrition planes, kid attention suggestions and supply planes to run into the hereafter challenges. The nucleus installations provided to all the patients are safe, quality wellness attention, educational offerings and above all a better quality of life. Mayo wellness system is a household clinic and provides a complete scope of wellness calling installations to the whole household with its diversified rand of installations and with updated equipments and qualified physicians. The patients receive quality intervention at their local infirmaries and can be benefited by the mayo ‘s consultancies at any clip. The environing infirmaries of Mayo Clinic are connected to it and can engage consultancies, skilled physicians and other equipment at any clip therefore supplying an overall better kind of wellness attention installations to the whole part.Scope of ServiceMayo Clinic provides a broad scope of services in different countries of the universe. All kinds of diseases are cured here by the qualified physicians with latest engineerings. They provide intervention of the malignant neoplastic disease, Gastritis, gynaecology, Diabetes, Gastroenterology Heart Surgery, Endocrinology, Psychiatry, Kidney Disorders, Neurology, Neurosurgery, Ophthalmology, Rheumatology and Rehabilitation. Health attention programs and consultancies are besides provided by them. They provide non merely wellness attention installations but besides research and educational installations to the community. There are 248 medical occupants, 27 PhD alumnuss, and 21 MS alumnuss and there are 77108 participants in Mayo School of Continuing professional Development. The new and modern engineerings which are discovered and the new ways developed for intervention are provided to the remainder of universe freely and nil is charged to the patients. There is another great service provided in the form of immature pupils ‘ instruction. The fact about Mayo Clinic is that it is really cost efficient in its operations so ensuing in cost economy policies and besides is a beginning of suggestions for other infirmaries. A really alone service provided by the Mayo clinic is to supply the insurance installation for its patients.Leadership and ManagementThe basic motivation of wellness attention organisations is to fix sawboness and physicians who are excel in their field but they besides require directors for taking the organisation at assorted managerial places. Those who want direction instruction have to travel beyond their pattern to other establishments in the yesteryear. This forces the health care establishments to broaden their range of surveies and offer some extra classs to fix their efficient and effectual directors as this is the demand of ambitious dynamic environment. Therefore medical establishments besides started in-house leading plans to develop their directors for future leading. The Mayo initiated the leading plans and being the benchmark is function theoretical account for the other establishments.Staffing and RecruitmentEmployees are the major plus of the services organisations as their major success, productiveness and success depends on the public presentation and attitude of the employees. The more committed, satisfied and skilled employees put their best attempts in supplying services to the organisations. Hiring the right employees is a ambitious undertaking because engaging the incorrect employees is expensive, dearly-won, clip and resource consuming. The non committed employees are besides harmful to the organisation who leads to the increased turnover rate that causes fiscal load on the organisation. The Mayo clinic has good established Human Resource section for the enlisting and staffing procedure that selects employees. There is a formal system of enlisting in which the procedure starts with the occupation attention deficit disorder, so comes the application signifiers, recruitment trial, interview and some simulation trials for look intoing the on the occupation cognition. When anyone is employed he is dictated about the organisation and so preparation is besides provided. These employees are provided wage harmonizing to the market rates and some other benefits are besides prov ided for creative activity trueness and committedness to the organisation. As a consequence of the above discussed activities a really skilled, loyal, satisfied and committed work force is obtained. These employees are divided into different sections and each section executing a specific map.Reimbursement BeginningsThe major beginning of Mayo clinic is the income from the patient attention which is reported $ 474 million for the twelvemonth 2008-09. The 2nd beginning is the part received by the grateful patients which is $ 236 million for 2008-09. Third one is the research activities that contribute in its income. The external grants for the research are $ 324million while Mayo ‘s ain research financess from donees $ 400 1000000s and other beginning of income is their diversified activities of clinical research lab and the wellness attention publications that contribute 57million to the entire income. As the Mayo clinic is a non net income organisation so their focal point in non profit maximization. Mayo ‘s stock market public presentation consequences in the 12.5 % returns. However due to fluctuations in the market Mayo clinic do non trust on the stock returns majorly and plans its budget estimating from other beginnings of income.Non-reimbursable Servicess:The focal point of the organisation is to supply best installations in clinical pattern, instruction and research. The innovations of medical patterns, instruments, processs and other research activities are provided freely to the remainder of the universe and no patents are earned over these things. All these installations are provided to accomplish the ultimate end of better standard life for everyone in the universe. The most of import non reimbursable service is the intervention of the patient, the diagnosing provided or the consultancy provided to the patient whose disease was non diagnosed by any other infirmary. Mayo clinic utilizations such alone patient history in its research and aft er survey publishes it in its research publications that are used by the whole universe. Since that Mayo clinic has really cost efficient system hence they besides provide some cost salvaging schemes to the other infirmaries and other organisations.Information Technology Used:Health information engineering ( HIT ) has been developed to organize attention of patients that have provided many installations to the people. This system provides information to the stakeholders maintaining a certain degree of patient privateness. It has created a calculated balance between the patient ‘s personal medical information and the elements of attention provided to the stakeholders necessary for intervention. Everybody has the entree on the general medical information. This information besides helps to build informations that can be used to avoid harm stairss in the exigency state of affairss of the patients. This accrual medical cognition can be helpful from the bar of many diseases. By util izing this system voluntary patient identifier has been established by which anybody can entree his or her ain wellness and by comparing them with the medical criterions. The patient history is stored in the informational system so it can be really helpful for the diagnosing and for future usage. This system can be helpful in secure interchanging the information between consumer and the supplier of consultancy. This system can be helpful to keep a better and standardised life manner. It can besides supply some societal benefits in early spread of infections and epidemics. Mayo clinic besides provide the proficient aid the attached infirmaries to better their criterions to ease the people of their ain countries.Regulatory and Quality RequirementsCenters for Medicare & A ; Medicaid Services ( CMS ) gives high ranking to the Mayo clinic as it non merely meets the needed criterions but exceeds the criterions required by the national quality steps. The joint committee is an independent a nd non- net income organisation working since 1951 and has categorized about 1500 wellness attention organisations in the United States. It has established many criterions on which organisations are categorized and most of import of which are the patient rights, patient intervention and infection control. These criterions are developed by the audience of wellness attention experts, providers, consumers and measuring experts. Mayo clinic besides fix some academic studies on quality measurings and one such undertaking was â€Å" The Dartmouth Atlas Project † . In this undertaking 4300 infirmaries were studied and checked that how the medical resources are used among the infirmaries of United States. This undertaking analyzed the doctors, infirmaries, part wise infirmaries and United States as a whole. The undertaking was conducted by the Center for the Evaluative Clinical Sciences at Dartmouth Medical School. University Health System Consortium ( UHC ) was created in 1984 in coaction with the academic wellness centres in the United States taking to increase the criterions of the infirmaries. In 1995 it categorized the Mayo Clinic as one of the best infirmaries of the U.S. The UHS has 95 full clip members and 128 associated members who physically visit the infirmaries and look into the wellness attention installations that are used in the ranking of the infirmary. The direction of the Mayo Clinic ensures that every service provided to the patients is up to the grade and of the declared quality indicated in the mission of the organisation. The plane for each intervention is checked before the start of intervention to guarantee that there is no spread in it. The patient ‘s charts are on a regular basis checked by the senior physicians to look into whether the patient is having intervention harmonizing to the intervention suggested. The dosage of medical specialty is besides reviewed and changed harmonizing to the patient ‘s fortunes. The intervention machines, equipments and other instruments are on a regular basis checked in every forenoon before the start of intervention. Before the intervention of following hebdomad, the plane of the old hebdomad is besides checked to see the betterments. Finally before the any machine the automated computerized system compares the healer ‘s scenes with the original plane so that the patient can neither have overdose or under-dose. There is besides a quality insurance cell which receives the feedback from the patients and attempts to invalidate these spreads. The stakeholders can besides lend by supplying suggestions for betterments in the overall system of the organisation. The Mayo clinic has been recognized by three quality boards the American Board of Family Medicine ( ABFM ) , the American BoardA of Internal Medicine ( ABIM ) , and the American Board of PediatricsA ( ABP ) which is the cogent evidence of their high quality criterions.Market PositionThere are different societies and organisation of Govt. private and public sector that categories the infirmaries and wellness attention organisations on the footing of the criterions set by them. These societies include Centers for Medicare & A ; Medicaid Services ( CMS ) , University Health System Consortium ( UHC ) , The Dartmouth Atlas Project, U.S News and some other organisations. In 1998 Mayo Clinic was ranked thirtieth in orthopaedicss, 36th in rhinolaryngology and 38th in pneumonic disease. In the current twelvemonth 2010 the U.S News studied the 5,000 infirmaries of the United States and categorized them individually harmonizing to the installations for different diseases. Out of 5,000 infirmari es 152 infirmaries gain some forte and 14 infirmaries awarded â€Å" Honor Roll † which contain more than 6 fortes and Mayo clinic is one of them. Mayo clinic ranked in following places in following fortesForteRanking of Mayo ClinicCancer 3 Diabities and Endocrinology 1 Gastroentology 1 Gynecology 2 Heart and bosom surgery 2 Kidney upsets 1 Neurology and neurosurgery 2 Orthopedicss 2 Pulmonology 2 Urology 3 In add-on to above ranking Mayo clinic besides retain some best sawboness, doctors, nurses and other paramedical staff. Their infirmary environment is really hygienic and nutrient served to the patients is of best quality. The Mayo clinic has besides the award of â€Å" honor Roll † of best nurses places in the United States.Considerations for ImprovementThe dramatic promotion in the engineering and other medical processs has put a force per unit area on wellness attention establishments to follow these freshly discovered processs and engineerings. There is ever a room for betterment in every system. Colorado Foundation for Medical Care ( CFMC ) is an organisation working for the betterment of infirmary quality and patient safety in the infirmaries and is working in the U.S. The CFMC is working chiefly on the surgical attention, bosom failure, Methicillin-resistant staphylococci aureus, force per unit area ulcers, physical restraints, the Health Care Leadership and Quality Ass essment Tool, the AHRQ Culture Survey, drug safety, and public coverage. The chief challenge for the direction of Mayo clinic is non to convey alteration and new engineering but to accept and follow that alteration. The staff of mayo welcomes the alteration with unfastened weaponries so that their organisation becomes the benchmark in the part.Future TendenciesThe chief purpose of the Mayo clinic is to transform finds into interventions through research. There are many research surveies that are continued under the counsel of many senior physicians in all the three metropoliss where Mayo clinic is runing. The particular patients who are identified with some new symptoms are specially studied by the Mayo clinic and after a whole research illations are concluded and the upset is identified. Then this alone instance is published in the publications of Mayo clinic. They are chiefly analyzing biomedical technology, bioinformatics, and the scientific discipline of wellness attention bring ing. More than 6,000 employees are working on this research and the research budget for 2008 was $ 523 million. The chief intent of their research is to supply replies to patients that others ca n't supply. The ultimate intent is the public assistance of society and better criterion of lifes through its attempts.Pertinent Aspect Discovered During my ResearchDuring the current survey many important facets were revealed that the Mayo clinic is carry oning. For illustration the neuromodulation is huge field of surgical intercession which is a immune psychiatric upset and batch of research is traveling on in mayo clinic. Beside this reversible intervention schemes for motion upsets are under survey and several tests have been done on this field. In add-on work is besides done on deep encephalon stimulation ( DBS ) in treatment-resistant depression, obsessive-compulsive upset ( OCD ) , and Tourette syndrome. The neuromodulation therapies, neurophysiological anomalousnesss and their conse quence on deep encephalon stimulation ( DBS ) are hot subjects to dot and research. The determination Mayo Clinic can duplicate the familial showing effectivity for sudden decease bosom status. All the characteristics, installations, experienced physicians, equipments, processs adopted and research conducted in Mayo clinic suggest that it one of the best wellness attention organisation and serves as benchmark to other wellness attention organisations due its direction and efficient usage of resources.

Golden Torch Award Essay

Companies have been striving to be the best in their respective field of services and products. Continuous improvement on the part of the management and commitment on the part of the employees is very important to stay competitive especially in the ever-growing market of society. It is not thus surprising that companies strive to earn distinguishing marks of excellence such as world-class awards. One of the most prestigious awards that can be received is the Golden Torch Award. Unlike all other awards, the Golden Torch Award stands out from the rest because it is not only an award of excellence but also of justice and fairness on how the company treats employees regarding their race. Purpose and Background The National Society of Black Engineers, famously known as NSBE, initiated the Golden Torch Awards in the year 1997. However, no exact date is available as to when the first Golden Torch Awards has been held. The NSBE is a preeminent organization that seeks to serve blacks in the fields of engineering and technology (2008 GTA Winners). The organization was pioneered by students of Purdue University in 1971. As the campus student organization flourished in Purdue, the charter members encouraged and coordinated with different universities throughout the country offering engineering courses. Thus, in 1975, the organization became national with over 30 school chapter organizations. The group’s well-known torch symbol represents the member’s everlasting and burning desire to achieve the success in a competitive society resulting to a positive effect on the quality of life for people from all walks of life. The organization seeks to make an impact on society and the world by the accomplishments and contributions of its members to engineering, technology and even in the academe (NSBE Mission). The Golden Torch Award is just one of the many activities that the NSBE has imparted to the society. The said award wishes to recognize brilliance among African-American engineers, scientists and technologists, including organizations that have exhibited a commitment to the recruitment, retention and promotion of minorities (Siebels, 2004, p. 329). It honors different companies, institutions and individual persons who enhance their professions and the world with outstanding intelligence, competent talent and vibrant vision at the same time serving as role models for everyone in advancing opportunities for African-Americans (DiScipio). Furthermore, the award links accomplishments of its awardees with the dreams of college-bound students. The Golden Torch Award is bestowed every year on the annual convention of NSBE, which seeks to raise scholarship funds for deserving high school students (2008 GTA Winners). Award Criteria The mission of NSBE is â€Å"to increase the number of culturally responsible black engineers who excel academically, succeed professionally and impact the community positively† (NSBE Mission). It is thus understandable that the Golden Torch Award is designed to highlight the achievements of distinguished black engineers and technical professionals together with incoming college students (US Navy). Golden Torch Awardees are usually chosen by scrutinizing resumes, professional achievements, community service and other criteria depending on the type of category of the award. A team of judges consisting of professional and academic leaders both in the field of science and engineering selects the winners of the award (Black Engineers). There are no specific criteria available for the award. Additionally, it will be very arduous to do so since the Golden Torch Award is but a general term for numerous awards varying in category. Nevertheless, the objectives of the NSBE can be a great estimation of the factors that determine the qualifications for awardees. The NSBE has five objectives to undertake. First is to motivate and develop student interests in the various engineering disciplines. The organization’s second objective is to make a great effort in amplifying the number of minority students learning engineering at undergraduate and graduate levels. The third is to tender assistance to members searching for advanced degrees in the field of engineering or its related fields and obtaining professional engineering registrations. Fourth is promoting public awareness of engineering and the opportunities for minorities in their respective professions. Fifth is to act as ambassadors regarding issues and innovations that may affect careers of black engineers (NSBE Mission). These different objectives of the organization are met in one way or another in the criteria used for judging of Golden Torch Award winners. Awards given are numerous and have different titles. In the year 2000, the awards given are: National Chair’s Award for Leadership in Technology, Executive Leader of the Year, Achievement Award, Lifetime Achievement in Academia, Lifetime Achievement in Government, Lifetime Achievement in Industry, Pioneer of the Year, Outstanding Woman in Technology, Mike Shin’s Distinguished Fellow of the Year, Distinguished Engineer, Diversity Leadership in Industry, Diversity Leadership in Government, Corporate Community Service, Corporate/Education Partnership, Executive Director’s Award for Advancing Diversity, Pre-College Community Service, High School of the Year, Pre-College Program of the Year, Pre-College Student of the Year, Academic Visionary, Graduate Student of the Year, Minority Engineering Program Director, Pre-College Initiative Program of the Year, Chapter of the Year, Technologist of the Year and Member of the Year (Black Engineers). Additional awards given this 2008 include Janice A. Lumpkin Educator of the Year , Entrepreneur of the Year and Corporate Diversity Leadership Award (2008 GTA Winners). Benefits of the Award Although there are no tangible benefits that the Golden Torch Award can offer, it still speaks of the prestige that its awardees can possess. The honor and the promotion somehow provide the awardees’ company popularity and quality assurance that customers and consumers seek out. The said award becomes a showcase of the high standards that a company achieves throughout its existence. It also brings about the respect and gives the image that the company not only offers quality service but also social responsibility. It can speak of the capable and proficient workforce a corporation may have. As a liaison officer of the US Navy commented, the bestowal of the award can be a great opportunity to acknowledge professionalism (US Navy). Receiving the award, companies and individuals can also avail of the different programs that the NSBE offers such as academic excellence programs, scholarships, leadership trainings, professional development and career opportunities in the field of engineering and technology (NSBE Mission). Nevertheless, to think further a bit, the award has its disadvantage too. Since the NSBE is a group that uplifts racial equality, radical groups that favor racial discrimination may condemn the awardees or the companies. Terrorist groups may instill fear to people that support such groups. Moreover, this threat is not utterly dangerous as long as the companies and organizations have appropriate security measures at hand. Past Winners of the Award Winners of the Golden Torch Award have been credited for their outstanding performance and significant contributions in the field of engineering and technology. One example is United Technologies Corp. (UTC), which is the 2005 Corporate Diversity Leadership. The corporation was appreciated for its professional achievements and commitment to diversity initiatives (DiScipio). UTC works for force diversity, education and community outreach to minority groups. Competently, the company is a dealer of a wide range of high technology products and support services to aerospace and building systems industries. Other past individual winners are Alan Gilkes, Sandra Baylor and Dawn Robinson. Alan Gilkes was awarded Distinguished Engineer of the Year in 2000 for his invention of an electronic Braille display device. Sandra Baylor was winner of the Lifetime Achievement in Industry Award, having seven patents whereas Dawn Robinson, a product manager, is the recipient of the Outstanding Woman in Technology Award (Black Engineers). This year’s award list is as follows: Woodrow Whitlow Jr. , Distinguished Engineer of the Year; Rickey J. Shyne, Lifetime Achievement in Government; Juan E. Gilbert, Pioneer of the Year; Celia D. A. Earle, Outstanding Woman in Technology; Arthur L. George, Lifetime Achievement in Industry; Lorraine N. Fleming, Janice A. Lumpkin Educator of the Year; Cheryle L. Peters, Minority Engineering Program Director of the Year; Jonathan D. Madison, Graduate Student of the Year; Michael A. Thompson, Pre-College Initiative Student of the Year(Male); Kathryn M. Daniels, Pre-College Initiative Student of the Year(Female); Pre-Freshman Program in Engineering and Science, Chicago State University, Pre-College Program of the Year; Benedict Lazare, Entrepreneur of the Year; Dow Promise Program, The Dow Chemical Company, Corporate Community Service; UNCF-Merck Initiative, Merck & Co. , Inc. , Corporate/Education Partnership; Texas Instruments Incorporated, Corporate Diversity Leadership; Akibi Archer, Mike Shinn Distinguished Member of the Year(Male); Wanda Eugene, Mike Shinn Distinguished Member of the Year(Female); Barbara Michelle Nichols, Alumni Extension Member of the Year; and, Edward Tunstel, Alumni Extension Technologist of the Year (2008 GTA Winners). The awardees surely received the honor due to their innovative contributions and achievements. Conclusion In essence, the Golden Torch Award is an excellence in leadership and quality award. Taking this into consideration, a nomination of the Lockheed Martin Corp. is not a bad idea. Lockheed Martin is a leading international defense contractor that operates on aeronautics, electronics and information technology services as well as space and strategic missiles thus employing a large number of work forces from all over the world. The diversity and quality assurance that the company brings to its customers and employees is worthy of a Golden Torch Award by the NSBE. It would not be a long time before the company is acknowledged for its contributions in the field of defense technology. References DiScipio, J.United Technologies Corporation. (2004, December 14). Society of Black Engineers honors UTC for Diversity Leadership. Retrieved May 8, 2008, from http://utc. com/press/releases/2004-12-14. htm. National Society of Black Engineers. (2008, March 3). 2008 GTA Winners: Top Engineers, Corporate Supporters win NSBE ‘Golden Torch’ Honors. Retrieved May 8, 2008, from http://national. nsbe. org/Default. aspx? tabid=138. National Society of Black Engineers. (2000, March 10). Black Engineers are Recognized for their Contributions, Winners Exemplify the Importance of Mentors. Retrieved May 11, 2008, from http://www. nsbe. org/downloads/pr/press/gta00. pdf.

Correlation between Oil and Gold Prices and the US Dollar

Correlation between Oil & Gold prices and US dollar The History The forex exchange market is one of the largest and most liquid securities exchanges in the world with over $3. 2 trillion in average daily turnover. This equates to 10 times the average daily turnover of global equity markets and 35 times the average daily turnover of the New York Stock Exchange. The forex market is open 24 hours a day, 6 days a week, with the EUR/USD accounting for 27% of total turnover. There is plenty of opportunity to make and lose money in currency exchange. The gold standard era in the U. S. officially began with the passing of the Gold Standard Act in 1900. But it was not until World War II that brought about the need for a worldwide standard for currency values and exchange rates. The Bretton Woods Agreement in 1944 established two very important international institutions: the International Monetary Fund (IMF) and the International Bank for Reconstruction and Development (now the World Bank). What came from this agreement was that all the world’s currencies would be pegged against the value of gold, and with the U. S. dollar on the gold standard, the U. S. dollar effectively became the world’s reserve currency. The value of gold was fixed at $35 per ounce until the gold standard was effectively withdrawn in 1971 as President Nixon ordered an end to the out-dated system and the price of gold was allowed to â€Å"float†. Now, every major currency is no longer on the gold standard but rather is referred to as â€Å"fiat† currency. This basically means that a country’s own currency is intrinsically worthless because it is not backed by any type of reserve, such as gold. The value each currency is therefore based citizen’s perception of their economy, supply and demand for money in general, and how their currency is compared to other country’s currency. Something to think about though is 40 years ago, the world’s currencies used to be pegged against the price of gold and ultimately the Dollar. Now it would not be a stretch to say that global currency is on an Oil Standard. From 1944 until 1971, US dollars were convertible into gold by central banks in order to adjust for any trade imbalances between countries. Up to that point, the price of gold was fixed at US$35 per ounce, and the price of oil was relatively stable at about US$3. 00 per barrel. Once the US ceased gold convertibility in 1971, OPEC producers were forced to convert their excess US dollars by purchasing gold in the marketplace. This resulted in price increases for both oil and gold, until eventually oil reached US$40 per barrel and gold reached US$850 per ounce. In 1975 when the U. S. Government made a deal with Saudi Arabia and OPEC to only trade oil in U. S. Dollars, their â€Å"partnership† effectively gave the USD a monopoly over all other currencies when it comes to oil trading. The US has enjoyed inexpensive oil-based energy for nearly a century, and this is one of the prime factors behind the unprecedented prosperity of its economy in the 20th century. While the US accounts for only 5 percent of the world's population, it consumes 25 percent of the world's fossil fuel-based energy. It imports about 75 percent of its oil, but owns only 2 percent of world reserves. Because of this dependency on both oil and foreign suppliers, any increases in price or supply disruptions will negatively impact the US economy to a greater degree than any other nation. The majority of oil reserves are located in politically unstable regions, with tensions in the Middle East, Venezuela and Nigeria likely to intensify rather than to abate. Because of frequent terrorist attacks, Iraqi oil production is subject to disruption, while the risk of political problems in Saudi Arabia grows. The timing for these risks is uncertain and hard to quantify, but the implications of Peak Oil are predictable and quantifiable, and the effects will be more far-reaching than simply a rising oil price. In the early 1950s, M. King Hubbert, one of the leading geophysicists of the time, developed a predictive model showing that all oil reserves follow a pattern called Hubbert's Curve, which runs from discovery through to depletion. In any given oil field, as more wells are drilled and as newer and better technology is installed, production initially increases. Eventually, however, regardless of new wells and new technology, a peak output is reached. After this peak is reached, oil production not only begins to decline, but also becomes less cost effective. In fact, at some point in this decline, the energy it takes to extract, transport and refine barrel of oil exceeds the energy contained in that barrel of oil. When that point is reached, extraction of oil is no longer feasible and the reserve is abandoned. In the early years of the 20th century, in the largest oil fields, it was possible to recover 50 barrels of oil for each barrel used in the extraction, transportation and refining process. Today that 50 -to-1 ratio has declined to 5-to-1 or less. And it continues to decline. The Correlation between Oil & Gold Is there a strong correlation between the prices of gold and oil? It depends on which data are  used to measure. Many price movement studies suggest that the correlation between the two commodity prices over time is quite strong. Typically, these studies rely on data covering extensive periods of time and show that when oil increases in price, gold will inevitably follow. On the other hand, there are correlations calculated from data that show a weak relationship between the two prices. The data in these cases usually cover periods as short as years or months. â€Å"From 1965 to 1994, the monthly correlation between gold and oil weighed in at a  very  impressive +0. 879. From 1995 to 2000, however, this correlation seemingly vanished with a negative 0. 133 reading,† according to a May 2004 article by Zeal LLC. â€Å"Since 2000 though, the historical oil and gold correlation has been restored, now again running positive at +0. 715. †Ã‚  It would seem that gold may be well correlated with oil in the long term, but it is not necessarily so in the short term. While oil prices have exploded and gold prices have shown marked appreciation, protagonists of a tight long-term correlation between the two evoke previous historical price movements such as those in last half of the 1970s. From the mid-1970s to 1980, oil prices rose from around $20 USD per barrel to  more than  $100 USD per barrel in 2008 dollars. Gold followed along and roughly quadrupled in price during that same time period. [pic] The long-term chart above is also very valuable to help visualize just how closely gold and oil prices tend to correlate over strategic time frames. If one looks at major secular trends measured in years, gold and oil pretty much move in lockstep. Yes, they deviate tactically over shorter periods of time as their respective supply-and-demand influences dictate, but over the long run they travel the same path. Their prices tend to oscillate around each other and periodically cross on this chart. Over the entire four-decade span of time charted on this graph, these monthly gold and oil prices have a correlation coefficient of 0. 835 and an R-Square value of 69. 7%. These are very impressive numbers over such a long period of time and really drive home just how closely gold and oil are intertwined. If one focuses his attention on the far right side of this graph, however, a glaring anomaly becomes instantly apparent. Since oil bottomed near $11 in December 1998 ($13 in 2004 dollars) it has surged up dramatically in several subsequent uplegs achieving a mammoth 312% bull-to-date gain. But over the same period of time gold has lagged dramatically, only rallying by 39% or so in nominal terms. So far the gold price has not been able to even attempt to retain parity with oil in recent years. Now the only other similar time in history when oil was strong and gold lagged was in the late 1970s. As this chart reveals, for years gold lagged oil but when it finally did decide to catch up it powered higher with a vengeance. Gold, Oil and Dollar Relationship The answer to this question begins with the historical desire of Arab producers to receive gold in exchange for their oil. This dates back to 1933 when King Ibn Saud demanded payment in gold for the original oil concession in Saudi Arabia. In addition, Islamic law forbids the use of a promise of payment, such as the US dollar, as a medium of exchange. There is growing dissention among religious fundamentalists in Saudi Arabia regarding the exchange of oil for US dollars. Oil, gold and commodities have all been priced in US dollars since 1975 when OPEC officially agreed to sell its oil exclusively for US dollars. Today, apart from geopolitical threats in oil-producing regions, supply/demand imbalances from Peak Oil and increasing demand from developing countries, the price of both gold and oil can be expected to increase as the US dollar declines. With an ever-increasing US money supply, growing triple deficits and mounting debt at all levels, the US dollar is likely to continue the decline that began in 2001. Long term trend analysis shows negative correlation between gold prices and the value of dollar but gold price does not increase proportionately to the diminishing dollar. Market is not so simple that every down-day for the dollar corresponds to an up-day for gold and every up-day for dollar correspond to down day for gold. The effect may not be immediate and the lagging can sometime be attributed to the information gap and time lag which an individual wastes in doldrums not being able how to react to the changes. Daily and weekly fluctuations are not important at all as they don’t give analyst any idea of clear cut trend and interrelationship between them. Inflationary 1970’s saw soaring of gold above $800 while dollar fell. Dollar bounced back in 1980 and rallied before peaking in 1985, while concurrently gold peaked in 1980 and dropped all the way down to $300 during the same 5 years that dollar rallied. The Future of Gold, Oil and Dollar The word â€Å"recession† has been hurled around the biggest financial capitals in the world from New York to London to Tokyo, and no one really wants to be the one to drop the bomb. While all the experts and economists around the world want to debate who is or is not in a recession right now, it is pointless and frankly useless information. The incessant chaos and obvious current state of the global economy is clear cut enough that the world is facing major hurdles in moving forward with our economies. The fact of the matter is, all the major economies are hurting badly and answers are becoming more infrequent and costly as time continues. Amongst a multitude of important topics to discuss in relation to a worldwide recession, the currency markets are a great source of risk and sometimes guaranteed investing opportunities no matter how unpredictable the world’s stock markets are trading. It’s quite clear that over the past six months, the Euro was the place to be if one wanted to lose a lot of money. Sure it was trading at all-time highs versus the Dollar back in May, but with the U. S. slashing interest rates, the Euro has given all of those wonderful gains back and then some, to the tune of 2 year lows. It seemed that an even one-to-one exchange rate was the next stop for the EUR/USD, until the past 10 days when bad went to worse. As bellwether, blue-chip companies continue to fold across the U. S. the only solution the world can come up with is to give them all the money they need to stay alive and skip out on the much publicized Chapter 11. The average U. S. consumer simply cannot handle reality in times of massive financial distress and force the government to hold their hand through this horror movie that is the year 2008. With government money flooding the economy and interest rates on their way to 0% and beyond in the U. S. , inflation is on the brink of exploding and no one is going to want to be anywhere close to a U. S. Dollar. [pic] Oil Relief Rising crude oil prices over the last two years and the general rush to commodities has been a major roadblock for the U. S. Dollar. As discussed above, there has generally been a negative relationship between crude oil prices and the value of the U. S. Dollar. It is no coincidence that as oil prices peaked in May, the Dollar was at all-time lows versus the Euro, and conversely as oil prices have shed over 60% in value since then, the Dollar has rallied against most major currencies. Something that has been a very debatable topic is how crude oil prices have fluctuated so wildly in the past 12 months and the role of speculators in the commodities market. With oil prices falling this year primarily on falling consumption and increasing reserves, how countries like the U. S. and China react to the recent economic turmoil will determine the fate of crude oil prices going through 2009. The recession affecting all the major economies will remain dire without substantial relief in sight in the near future. Provided speculators do not drive the prices up and the recent terrorist attacks in India fail to spread panic in the Middle East, crude prices will remain modest and will not have a major effect on the U. S. Dollar. Nonetheless, if there happens to be a large run-up in oil prices back towards the $100 mark, the Dollar will be back on the defensive. As far as gold is concerned, with such a huge demand for gold coming from around the world, it is no wonder that the price is projected to reach an almost unbelievable $1000 per ounce. One of the biggest importers of gold is China, constituting a large chunk of the price hike. Most of the gold usage is jewellery related. Supply is also a factor. With such a high demand, gold is becoming scarcer. Miners are searching for new sources to combat the possible shortage. The Federal Reserve has a lot of control over the value of the dollar. When it raises interest rates, usually the value of the dollar goes up. Now, with the Fed lowering interest rates in hopes of promoting trade between banks, the value of the dollar is going down and so, the value of gold is going up.

English Language Content Standards Essay Example | Topics and Well Written Essays - 500 words

English Language Content Standards - Essay Example They will also address how to give a full curriculum, and has focus of areas of students that may need extra help to reach the standards. These standards are part of an essential discipline because it has become essential to communicate fluently in English. Language tools are needed to be able to openly communicate with other people, as well as to express you won ideas and though processes. The standards will help students learn the tempo and structure of language in their early years, until they are able to master vocabulary, expression, and the ability to gather evidence to support an idea. Studies show that children who fall behind in reading have a small chance of catching up, so it is crucial to help engrain these ideas and skills as early as possible inside of the education system. Also, though literature students are able to learn just as much about history as they would about the time period of the writing, and this benefits them in both ways. Students should be able to read a vast source of materials that benefit not only their English training, but also their history, math, social science, science, and gover nment classes as well. Students must able read a vast range of texts in order to help them gain the understanding of them, and to also try out best to instill into them a love for reading, so that they may one day gain pleasure in this simple

Leader of Influence Term Paper Example | Topics and Well Written Essays - 1250 words

Leader of Influence - Term Paper Example He is commended for his fight for the independence of the people of India as a nationalist, theorist as well as an organizer. His outstanding achievements as a leader of the Indians amount to the legacy that he enjoys today. From his leadership, leaders in preparation have many lessons to learn including boldness, being the voice of the weak and humility. The purpose of this essay is to analyze the leadership of Mahatma Gandhi and to show this is relevant for us as contemporary leaders. Being tactful and brave is an important character for any leader who wants to improve the welfare of his society. In many incidences, Mahatma Gandhi showed his bravery in representing the voice of the Indian people who had previously suffered under very harsh regimes. In his journey as leader, he began by serving as the voice of the Indians in South Africa, where he represented the rights of his people (Shafiulla, 2012). In a region where the Indians were seen as the minority, it required bravery and wisdom to air out the voice of the people and be heard by the country. Another incidence where Gandhi stood out as a brave leader is during the war for independence in India. After Gandhi returned to India in 1915, he became a member of the Indian National Congress only to be the chair of the congress in 1920 (Wolpert, 2001). During this time, India was colonized by the British government, a regime when the Indians suffered from oppression of their colonizers. In 1930s, Gandhi started t he journey of liberating the people of India. The congress declared independence for the country, and tactfully Gandhi led the people into negotiations for independence. This points out to his wisdom in using a peaceful process in achieving independence. When the negotiation process failed, Gandhi fearlessly demanded immediate liberation of his people, a response that received a lot of harshness from the British government (Deats, 2005). Ultimately, Gandhi was jailed together with other

Project Resource Management Research Paper Example | Topics and Well Written Essays - 500 words

Project Resource Management - Research Paper Example The work will be carried out in two phases. In the first phase, the software installation will be carried out which will take 15 days. I have come to the conclusion of 15 days on the basis of the highest hours of work put in by one of the IT workers viz. the project analyst (150 hours). Assuming the IT workers put in 10 hours of work each day and work within under the supervision of the project analyst, the entire installation process must not take more than 15 days without weekend breaks. The budget for this phase is $486,005. In the second phase, 12 hospital employees will receive training. The training time for each employee is 2 days, totaling 24 days (12 x 2) in all. Assuming the employees work on a 5-days week schedule, the entire training will take 24 plus 6 days, totaling 30 days. The extra 6 days consist of 2 days leave for each week, that is, Saturday and Sunday, which occur three times during the 24 days training schedule. There is no additional cost for this phase as training is provided to two in-house employees by the vendor. These two employees have been entrusted with the responsibility of training the other 12 employees. (Asta Teamplan) The constraints and risks associated with computerization of the system normally arise due to systems breakdown which may be the result of a virus att

Finding Home in Food Essay Example | Topics and Well Written Essays - 750 words

Finding Home in Food - Essay Example This research will begin with the statement that since his teenage years, Western food has been a source of great attraction and enjoyment to the author. Fast food like burger and pizza had become his favorite since his teenage days. Eating pizza was one of the most pleasurable activities in his young days. The researcher has remembered going to a pizza joint near his school every weekend. Although it was not considered good by his family to have fast food, he used to love it. The author was discouraged from going to these joints. However, he used to manage going there with his friends on weekends. The researcher’s memories are filled with the fun and enjoyment that he has had while going to the fast food joints. He loved the cheese, different toppings and the starters that were all made in a Western way. Going to pizza joints made him feel that he was ‘modern’ in his outlook. For the author, eating fast food was like being a part of the ‘developed’ w orld. He used to look forward to going to pizza joints and enjoy the pizzas. So when the researcher got a chance to travel to the United States, he thought that he was going to have the greatest time in his life. The author knew that it is the country where burgers and pizzas are found in great varieties and sizes. Moreover, there was no one to stop him from having it. So he thought that his time in the USA will be filled with great entertainment and fun. The author thought that he will not miss his home much. However, his journey to the United States proved his thinking completely wrong.... I had thought that fast food is one thing that I cannot live without. Soon I realized that I was wrong. By the fifth day, I started remembering home food. My mind started dwelling on home made food and beverages. On that day, I told my friends that I will order the pizza. I took the number for nearby pizza joint and called them. I went outside my room to avoid my friends from listening to me. When I became sure that no one was listening, I asked the guy on the other end, â€Å"Do you have pizzas with Asian toppings?† The customer care guy gave a long â€Å"mmmmmmm† and said â€Å"No sir, we don’t.† I was quite disappointed and ordered the usual pizza. By this time, i.e. in just five to six days from the time I arrived, I had lost my enthusiasm towards fast food. I was craving for spices and variety in food. Even then I thought that maybe I am feeling home sick and hence, missing the food. I thought that if I have just one dish of Asian food, I will go back to the fast food with the same enthusiasm. However, my heart was saying something else. Fortunately, the confusion between the mind and the heart was cleared very soon. The next day, one of my distant relatives came to visit me. She brought a big Tiffin box full of Biryani, an Asian dish made of rice, chicken and spices, for me and my friends. She said she thought that home made food will make me feel at home. I said it is nothing like that, and that I am quite used to the Western food. My friends coughed to hide their laughter. After all, there was no strength in my statement. They had realized that I was craving for home made food now. However, as I did not want to lose the challenge, I tried my best to hide the truth.

School Safety Paper [w4r] Essay Example | Topics and Well Written Essays - 1000 words

School Safety Paper [w4r] - Essay Example But, unfortunately a student injured recently as one of the window panes slipped over him. The boy had severe internal injuries due to which he lost speech and left hand. All those students who were present around him during the incident were in great shock. The boy was and studying in the eighth standard. He was the only child to his parents. The parents were in utter grief when a group of students went to see him in the hospital. Everyone in the school had many sleepless nights and is panic stricken to go near the new department. It took almost half a year the boy to recover his health but question arises who is to be blamed for the situation? Who will get back his lost speech and hand? Is it the school authority? Or the negligent builder? The principal had put a committee headed by three staff members to look into the matter more seriously. They have presented a final report saying that the builder had used a cheap quality window panes and cement in the construction. The school secretary lodged a case in the court of law against the builder and supervisor for their negligence and teaching. They were convicted with a penalty of $5000 each and reconstruction of the building all over again. But, still who will get back the happy days of innocent boy. The principal decided to help the boy financially towards his further studies in the school of disabled. But, the student was unhappy with this decision. The student wanted to continue in our school as he was confidant in continuing further as usual. Fortunately h e is left with good eye sight, understanding capability and more over his right hand to write and legs to move around. He was one of the brilliant students of our school and everyone was sure that he excels in his academics same as he did before. But, he was still detained due to which he was psychologically upset. He started cursing his fate and helplessness. He

JavaScript-Same Origin Policy Essay Example | Topics and Well Written Essays - 250 words

JavaScript-Same Origin Policy - Essay Example The essay "JavaScript-Same Origin Policy" overviews a security concept, the same origin policy, a concept used when there is a need to isolate documents retrieved from distinct origins. The same origin ideas thus help in avoiding the hackers from injecting evil sites into someone’s or other sites that are wanted private. This origin policy always starts with trust; a web page owns its data and is free to submit that data to the original website. Thus, the already running JavaScript will be given an assurance of not being evil. The JavaScript will load more content e.g. building a simple image gallery use that is through writing JavaScript encryptions that insert and erases into the existing page. The browser, therefore, will instantly load the image, in a way, showing that it had been present in the existing page, and removes it from the display if the image is deleted. Thus, the same origin policy code prevents the JavaScript from directing data to a dissimilar server or from writing a data belonging to a different server. Enabling communications with another domain will depend on the use of JSONP, which grounds on a -tag. The sent information to another domain is encrypted in the URL as limits. The resumed JavaScript comprises of a purpose call with the invited info as parameters. Though if some evil encryptions of JavaScript gets submitted into a clean web page, it may results into an tag and includes them on that page. It will be safe to develop a URL to any intimidating domain.

Business Report on Van Morrison Supermarkets Coursework

Business Report on Van Morrison Supermarkets - Coursework Example IT application is also found to be effective for operations to develop one system to be used across the stores for an effective utilization of the stock with the purpose of enhancing the business process. In accordance with the company, Van Morrison Supermarkets, which is operating within the national and international market place as a retail supermarket chain can be observed as facing problems with regard to IT and IS. The problems that are currently being faced by the company includes its infrastructure related to the IS/IT, with high dependency on Microsoft software as well as the operating systems using technology of low standards within the workstations. As a consequence, the staff working within the company is often dissatisfied due to the poor performances of IT/IS software often being down which causes delay in dealing with the customers as well as the suppliers causing massive damage to the customer satisfaction prospects of the organisation. Emphasising on this particular aspect, the objective of the study will be to suggest remedies for better applications of tools and concepts used in the modern IT/IS integration frameworks in Van Morrison to counter the identified problems. Tools, Concepts and Ideas in Formulating the IT and Information IS With Respect To the Retail Sector In the modern day scenario, the companies are viewing new dimensions for the use as well as the application of the Information Systems (IS) and the Information Technologies (IT) used as a means to obtain better operational efficiencies. In this context, for the companies to sustain and develop these added dimensions of the IS and the IT, act as a competitive as well as a strategic weapon too, to combat industrial complexities and obstacles effectively. The three aspects with respect to the IT applied in organisational settings, which are often argued to be responsible for the success of the companies, comprises of the presence of strong IT staff within the organisation, the pres ence of a firm technology base that can be reused and a consensus partnership between the IT staff as well as the management. In the modern day scenario, the global economy and the use of the internet facilities has been growing rapidly. In accordance with the field of e-commerce, the process and the manner through which the companies tend to utilize its IT applications have often been argued to result in the success of the company (Multimedia University, 2011). The strategies with regard to the IT and IS applications commonly include the incorporation of the computer as well as the manual systems, computer telecommunication and computer technology. The IT and IS strategies also involve the various aspects of management of the organisation. The objectives as well as the aim of the organisations adopting the IS and IT strategies further include, aligning the business strategies with that of the strategies of the IS and IT so as to determine the prioritised field with regard to the

Portfolio Analysis Essay Example | Topics and Well Written Essays - 1250 words - 1

Portfolio Analysis - Essay Example The hospital is recognized for several services including Geriatrics, women services, emergency services, plastic surgery, substance abuse, vascular surgery, ambulatory surgery and Oncology (Sultz, 2008). This paper is going to carry out a portfolio analysis of some of the products and services in Johns Hopkins Hospital in an effort to gauge the market position of the hospital in relation to its share market and also determine the service and products rate growth. Profitable concerns in the hospital indicate that portfolio analyses are better applicable when portfolio matrixes are used as they put into consideration profit dimensions. Such profitable dimensions are measured in terms of low or high profitability in relation to either negative or positive flow of cash or invested capital returns (Sultz, 2008). Portfolio Analysis Portfolio Analysis categorize products and services of an organization into several categories with the help of graphic matrix so as to bring out the differenc es among services and products of particular organization in relation to their growth rate in the market and the market share relativity. The categories include; stars, problem children and children and cash cows. Market share relativity in this analysis is viewed as being the market share occupied by the biggest rival of an organization in comparison with the market share of other organizations that fall under the same category of services and products. To determine the growth rate, the changes in gross patient services levels of revenue are measured or at times the service or population growth. The classification is in terms of low, high and medium and this is reached at by comparing the figures of such services and products to those of the national health care growth, alternative investments and prime rates (McMillan, 2011). Stars The services and products offered by the Hospital which fall under this category include; Geriatrics, oncology and women's services. These services are under this category because they have proved to have a market growth that is high as well as high market shares. The profits realized from such services are also high. These are products and services that Johns Hopkins Hospital makes the most of and gains a lot from in most situations. However, as a result of the services and products being highly profitable, most competing hospitals have settled for the same services. Such competitions put the hospital in a situation where it has to practice aggressive enhancement on these services and develop them from time to time (McMillan, 2011). This at times poses a challenge due to the difficulties in market development considering the already existing market share which is very high. This puts the hospital in another situation where it has to seek additional strategies such as related diversification and vertical integration. Thus Geriatrics, oncology and women's services happen to be the most profitable service and products offered by the hospital but still offer a number of challenges. These products stand out as representing the hospital’s best opportunities in the long-run for gaining profits and growth (Emge, 1982). Problem Children Serves offered by these hospital and fall under this category include Ambulatory Surgery, emergency services and neurosurgery. These services qualify to be in this category as they occupy market share positions that are relatively low but still manage to compete in markets whose growths are high. Such services put the hospital

Business communication Essay Example for Free

Business communication Essay Student Name: ID: 1-:learning Outcome being assessed: 1. Choose the appropriate communication channel for a business communication event. 2. Present material in context and support claims with evidence, reasoning and professional quality. 3. Design and produce a message that is responsive and appropriate within a business context. 4. Produce clear and concise memos, letters, faxes and emails. 2-Handing in format instructions Sign this page and put it as a cover for your assignment Submit a copy of your work Work must be neat and readable. Use blue ink only (or pencil when permitted). Number all pages etc†¦ 3- Marks Problem/question Marks allotted Marks obtained Feedback to students Layout Formulation (ideas/ Content) English 3 5 2 Total 10 [Lecturer should give feedback to the student for all questions with awarded marks around 60%] Program Manager Approval: Course: Business Communication Semester: Fall 13/14 Code: GEM202 Lecturer: Handout date: 29/9/13 Due date: 10/10/13 Assignment # :1 Home Assignment Maximum Mark: 10 Choose one of the following Tasks TASK1: You work for X company (you decide what kind) as a (you decide what position). You want to take a course on (you decide what topic) and have the company cover the cost. Your supervisor is basically supportive but will need to get the OK from his boss. For this you will need to make the case persuasively and in writing. Write an email proposal to your supervisor requesting the company cover the cost of the course. Convince the decision maker that the course is worth the money. Try to tie to your current and future responsibilities and explain how the company will benefit. To ensure that your proposal has sufficient level of detail, you may want to do some research on the internet on courses and choose one that might be useful to your current job. TASK2: You have been using the e-Text book for certain courses offered by McGraw Hill/KUC over the last semester. Draft a letter to the KUC management expressing your opinion on introducing the new digital books as study materials for the students. Explain for which courses you have used the e-book. How beneficial was it? What are the advantages and disadvantages of using the e-book and what are your recommendations for the future. Would you like to pursue its usages, would you prefer using a print copy rather than the digital copy, or do you have any other suggestion? Use persuasive suggestion? Use persuasive arguments to support your opinion. can you please help me doing any of these tasks?

Discuss Seven Key Characteristics Of Leader Nursing Essay

Discuss Seven Key Characteristics Of Leader Nursing Essay Leadership is defined as a combination of skills, internal motivation or personality traits and characteristics in any particular situation in which a person is able to influence the values, attitudes, beliefs or behaviour of a team (Daly, Speedy Jackson, 2006). It is an art which can motivate or inspire a person or a group to do well and achieve a common goal. In leadership a person who works as a leader directs a group by using knowledge, skills and personality traits and all team members follow this leader. Leadership occurs when someone influences others to act in a situation by guiding, inspiring and motivating (Davidson, 2010). There are seven major characteristics of a leader which play a vital role in leadership. The first and most important characteristic is self esteem. A leader should have knowledge of his or her strengths and weaknesses. If a person is able to find their own self then he or she can build strength in others and can also create confidence which can counterbalance any weaknesses or ineffectiveness in others. This is very important in every field of leadership. A leader should know about his or her own worth and be able to make good decisions (Blais, Hayes, Kozier Erb, 2006). Secondly, a leader should be a good communicator, because communication always works to increase unity and it leads to teamwork. A leader who has good communication skills can understand team members views and think about them. A leader always motivates team members to share their ideas to ensure that all are able to contribute to achieve the common goal. If a leader can communicate well with group members regarding their plans and ask them about their ideas, they will feel more motivated and valued for their work and also will understand their duties. This characteristic empowers the team members to equally participate in achieving common goal (Vanhove, 2010). Integrity is an important and effective quality of a leader which involves honesty, loyalty and trustworthiness in leadership. It is demonstrated by a persons thinking, attitudes and actions. People always judge integrity by a leaders behaviour and truthfulness during work. If a person treats others well with a strong sense of right and wrong and shows dedication towards their work, they are a trustworthy and respected leader. Leaders can display integrity by working clearly and honestly with team spirit (Kelly, 2009). A leader should have balance between professional or family life. It is a good trait of a leader to have a balanced life. If a person pays attention to their work or their goals at the appropriate time and then is also able to maintain their personal relationships by giving time to family members and friends, then that person can lead without stress in their work place. A leader can become a role model by balancing their life (Whitehead, Weiss Tappen, 2004). Having a good vision is another essential quality of leadership. By this characteristic a leader can find out new opportunities and new trends to make their organisation strong and successful. A leader who has good visualization of upcoming possibilities and trends can make a difference in discerning good and bad opportunities. By this visionary leadership, leaders can imagine effective goals for team members and apply these in order to avoid difficult problems. Leaders should screen opportunities or information and choose the useful information for their team to attain the best outcomes. This personality trait is also important for the professional growth of a person (Sullivan Decker, 2009). In addition, a leader should have the power to make decisions and empower the team members to share their ideas with management. Empowerment makes a leader confident and relevant to work in the organisation. By empowering group members, their contribution to thinking and planning increases their passion to work in a group (Huber, 2006). Moreover, awareness and observance of their environment should be in leadership. A person who has the ability to observe that what is happening around him or her can work as a leader. In some tough situations a leader can observe the problem and make some relevant decisions to solve it. Good observational skills help to detect upcoming difficulties and enable strategies to be put in place to prevent harm by informing the group in advance (Spears, 2010). These characteristics are very important in nursing leadership because an effective nurse leader can work with others to gain universal goals like better client care, make new policies and create new procedures. In nursing leadership, integrity is very important because patients and health workers always accept honesty and rely on trustworthy leaders. As a leader, a nurse has to notice different issues and perspectives to improve clients health, so good characteristics make him or her passionate and a source of encouragement to do the best which result in a good impact on others (Carroll, 2002). In the health care environment, leaders and teams or team work are necessary for success so it is important to have good traits in a leader to promote the health and take appropriate action in order to meet patients needs. In nursing field effective leadership require all these characteristics to understand the human emotions that nurses face daily basis. By having good self esteem, nurse leader can understand and accept own self in nursing. Some traits like good communication and good observation in nurse leaders make them strong to focus on achieving common goal related to client care and it increase leadership capacity which are vital to ensuring assessment of situation and implementation of a suitable plan of action. Nursing leadership based on honesty and truthfulness because patients trust on nurses for improvement in health care with understanding (Daly, Speedy Jackson, 2010). Nursing practice is affected by these characteristics which are needed to shape and improve the structure of health care facilities. They help to make new strategies in order to achieve common goals. Health field is a difficult field so staff and management have to tackle difficult situations in daily routine so this helps in decision making and problem solving (Shaw, 2007) Empowerment makes staff members independent to share their ideas and power to take decision in client care. By having these characteristics in nursing leaders they can learn from adversity and show dedication to the job. By good observation a leader can monitor the staffs work to maintain quality and provide the best direction to staff for future. It is essential for nurses to realize that people require ongoing feedback which can be positive or negative. In the practise of nursing, effective leadership requires understanding common goals and needs of staff and patients which can be created by motivating and empowering the team and others who will interact with it (Blais, Hayes, Kozier Erb, 2006). Change always affected by power. It can be in different position. Power works for change by using different methods and ways. It can be knowledge, money and experiences of particular field. In nursing field nurses can make change only in their limitations and by using their own power which should be related to client care (Painter, 2010). Power is defined as one persons effect or influence on others to gain support in order to implement new ideas. It can be used to reward or punishing others for right or wrong action. People are always affected by power and sometimes it influences every day practice in nursing and nurses represent the power capacity to react and respond in a range of ways. Power can produce changes in work place and quality of work for best result in health care environment. Nurses knowledge, practise and understanding of their role in helping people make them more able to influence people by particular decision making related to peoples health and wellbeing. Their power and authority can be used to improve the patients condition and nursing practise (Marquis, 2009) Nurses have power to discuss new policies and plan. They can speak about right and wrong in practise and share their ideas to benefits clients care. Power also can be use to improve skills and knowledge of working group. Nurses use their power to work for client for better outcomes (Huntington Gilmour, 2006). Nurses can exercise their power by educating to patients and their families in order to achieve better health and make changes in their power. Secondly, nurse can use power effectively by changing behaviour of colleagues by introducing new policies and plans. Nurse can improve their performance in their profession by getting training which will improve their good practice (Tomey, 2004). Nursing managers use their power to make changes in organizations by evaluating staff in order to reward and punish them. Nurses use power to share information and work as experts in nursing field. Nurses use information and reasonable power to promote health. Empowering everyone in this field, prevent conflicts and other unsatisfactory behaviour in the work place. Moreover, empowerment provides independence to make decisions for health worker in their field (Yoder- Wise, 2003). Nurses should always use their power to be trustworthy health care providers because power makes a relationship of trust between nurse and client. In other words, nurse can effectively use power strategy to motivate others to connect and collaborate to achieve professional goals (Huber, 2006). In conclusion, leadership is a process to influence others by some characteristics to make change and achieve common goal in profession. Seven key characteristics like integrity, self esteem, communication skill, power, balance in life and observation, are very important for nursing leader because by these characteristics a leader can impact strongly on others and feel more confident to motivate others. Honesty and vision to know opportunities create trust among staff, client and leader which is important to improve health services for better care. In nursing field power of a leader and nurse creates changes in others to get success for the implementation of plans and improve knowledge by training. Appropriate use of power in nursing, plays a vital role in managing difficult situations in decision making.

Entry Modes In Hospitality Industry Tourism Essay

Entry Modes In Hospitality Industry Tourism Essay Research carried by the author has pointed out the differences in the choice of entry mode of Accor in Thailand and China. According to interviews carried before the analysis, managers in Thailand assumed the foreign direct investment as the major choice for local market, which can intensify the network of hotel chains and avoiding financial constrains. According to Sass (2003), FDI is an entry mode which bounds the international business with the domestic ones. Thus, this choice is appreciated by the local government in Thailand, which may be too busy in political reconstruction to get into the rebooting of tourism and hospitality industry. Meanwhile, acquisition is applied by Accor Thailand in order to get acceleration in network expansion. This is mostly realized by management contract, which according to Esperanca (1992), can separating the ownership from the management. However, the long-term contract is related to the motivation systems for the owners, which also admitted by Thailand managers that credibility, trust mechanism are still needed to be constructed for the local owners. Different from this, the strategy in China, especially in the brand Ibis owns the unique characteristic. Although franchising is assumed to be the ideal choice for franchisor and franchisee by the assistance in operation system and the quicker mode to establish network (Pine . Zhang, 2000). It is the fact that many countries are lack of the stable environment which facilitates the process of franchising. As a consequence of this, the overall and diversify market in China is become the ideal choice for this attempt. After all, franchising is putting the reputation of the brand into danger. Once the operation in one point is facing crisis, the whole brand reputation will be called into question. 2.0 Reasons contributed to the different strategy 2.1 Relationship with local strength in host countries This element is viewed as an influential factor in the extension strategy for international hotel chains. While in consideration of the circumstances in those two countries, it is easy to find out the differences into this factor. The first fact is the leading position of Accor in Thailand, which make it more convenient to expand within that country without real competition. Meanwhile, Accor in Thailand is trying to develop better relationship with travel agencies, which can help the process of promotion in current downturns. Even though this efforts is turning unsatisfying results, which can be reflected by the merely 3% guests who claimed to be introduced into the hotel by travel agencies, this efforts in this area are still worthy. Since from long-term perspective, the markets in host countries, especially in new booming ones like Thailand, are more essential for the development of international hotel chains (Gammeltoft Pradhan, 2010). Cooperation with local strength may change the disappointing situation on the overall brand promotion for Accor in Thailand. However, in Chinese marketing, the most worthy way to cultivate is not the one of travel agency. Since many travel agencies in China are limited in moderate scales and not be trusted by travelers, especially native people. Due to the situation in China, that reflects as the relatively close relationship shared by Chinese among friends and family. The results of 23% interviewees who claimed their recognization of the brand is from friends and relatives have provided evidence to this aspect. As a consequence of this, it is understandable why Accor promotes Ibis, which is a economy hotel, widely in Chinese market. Since more local tourists will be attracted by the recommendation from friends. Besides the target group, the local brands and government can also be viewed as important strengths in China for Accor Group. Most MNCs, especially those indulged in service industry like Accor are attracted by China for the low cost of labor, since most of these industries are known as labor-consuming. However, the Chinese government is claiming the efforts they will put in the transformation in this area. Policies will be put more highlights on high-tech area. Thus, for Accor Group in China, it is not advisable to perceive the low cost of labor as an advantage. This is just be self-evident by the efforts Accor have put into the promotion of brands belongs to high class like Novotel as a sign of quality-provided chain. 2.2 Culture aspects Lake of cross-cultural awareness is the major reason which contributes to the frustration of MNCs in host countries. For Accor Group, which pursuit for the position in service industry, this awareness seems to be more essential. The analysis of visiting purpose of the guests can give the most obvious distance from Chinese and Thailand culture. Compared with 27% of guests who claimed to visit hotels on the purpose of relaxing in Thailand, the correspondence rate in China is revealed as merely 9 in 93 persons. This difference, if finding explanation from the culture side, can be understood as Chinese always value family concept more important than other cultures. That is, they will be less likely to choose relaxing places besides home. Thats can also be viewed as reason that contribute to the over 50% satisfaction with the facilities of the hotel in China, since most of them are travel on purpose of business or sightseeing, there needs in additional facilities are relatively lower than others. Thats the reason why Accor promotes brands like Novotel in China. As the business image of the Group, Novotel is just attractive for those international business people who pursue excellent quality service. And the expansion of lower brand Ibis is just suitable for the economical pursuit for sightseeing guests Different from this, Accor is trying to establish more brands in Thailand market. This strategy is also related with the recovery of the political situation. However, it is designed to satisfy the needs of multiple cultures in Thailand. 2.3 Geographical difference This element influence the control relationship between headquarter and subsidiaries abroad. Rodrigues (1995) has lighted the two choices for the headquarters-foreign subsidiary control relationship, included centralization or decentralization. However, the geographical circumstances in China have put a challenge on the centralization process. Thats also the major reason that Accor apply franchising mode in this country. Due to the large area and diversity in many elements, the centralization process will cause too much efforts of the headquarter company. Different from this, Accor Thailand is trying to introduce more brands designed for different groups of people. The higher class hotel like Novotel can not be promoted in methods expect from direct investment, thats partly due to the danger of quality maintain in mode like franchising. Meanwhile, in area like Thailand, whose economical centers are concentrated in the certain region of the country, decentralization will more easy to be realized 3.0 Recommendations in strategy improvement in Thailand and China A. Focusing on the promotion of overall brand. Even though the overall satisfying situation in the subject hotels of research carried by the author is highly evaluated over 50% countries, the recognization of the Accor Group is disappointing. As Punjaisri and Wilson (2007) defined the recognization of the brand for existing guests can give influence to other costumers. As a consequence of this, the disappointing current results will cause barriers when Accor introduce new brands into these two markets. B. Trying to attract different guest groups Business guests and sightseeing ones are two unique highlight in Thailand and China, which covered the largest part of the interviewees in those two markets separately. However, as a hot destination, Thailand owns the distinctive potential in tourism. Even though the Accor Thailand is witnessing 25% guests who claim to settle for sightseeing. It still has a great distance when compared with the booming of tourism industry in this country. Thus, it is advisable for Accor in Thailand to promote image as tourists choice. Different from Thailand, China has been long recognized as sightseeing attraction. As a consequence of this, most international hotel chains would be more likely to position themselves as types for tourists in this market, which also in turn make competition in this area. The 43% sightseeing group also verify this strategy of Accor in China. However, as a developing country who is in the acceleration development, the business guests in China will be increasing gradually in near future. Meanwhile, the location of China also makes it taking the role of economical hinterland for countries in Asia or the world. Thus, the business potential will worthy the efforts to promoting business hotels in Chinese market. C. Combination of entry modes Franchising owns the fastest expansion speed while direct invest witnesses highly control relationship. However, both of these methods own their cons and pros. Current situation is the separation of both modes in China and Thailand as major strategy for those markets. However, franchising can also be applied in Thailand, while franchising may facilitate the development of certain brands in China, Taking the All Seasons in Thailand as example, they are operated by the method of FDI, and only establish a network from Bangkok to Pattaya. The relatively slower speed just testifies the disadvantages of direct investment. Thus, in order to operate economy hotel more successfully in Thailand and set up the wildly net which can attract more tourism. Franchising, which is unique in Chinese market can also be used in All Seasons in Thailand. Higher class brand like Novotel can maintain in the way of direct investment which can ensure the quality of service. While in China, Accor is trying to expend as fast as possible in order to get more share of this booming market. Franchising as the most effective way in this aim is widely applied to expand the economy brand. However, when Accor moving forward in China, there must be attention paid on the choice of the city. The subjects which are chose in the research of author reflect the subtle difference Accor in brand operation among different cities in China. Dalian, as a city bordering on the sea, is always perceived as sightseeing destination in China, thus, Ibis here will position itself as economical choice for tourists. Different from this, Beijing, the capital of China, which is also the centre of economy, is the ideal choice for Novotel to settle. However, due to the larger area in China, the serves radius of a city here is limited. When putting into strategy consideration, it will be necessary to value how many cities exactly Novotel Beijing can provide service to. As a consequence of this, one city in China may shoulder two responsibilities, which can serve as tourism destination and economy centre in center region. Thats where the combination of entry modes should be applied. Meanwhile, the direct investment may be not suitable due to these characteristics, management service contracts can be applied as a replacement, since its a method which can be more decentralize than direct investment, meanwhile, owns more control than franchising. D. More emphasis on the Internet and media promotion This suggestion is merely based on the disappointing situation of Internet channel in both countries. According to the research, this is only 9% and 13% in Thailand and China of the guests who claim acknowledges of information of the hotels is from the Internet. Since Accor is trying to establish the network in both of these two markets, no channel can be more effective than Internet promotion. While at the same time, according to the development situation in both countries, the Internet has already become the major source of information for people It is advisable for Accor to fulfill the existing blanket area in this category. Besides the Internet, the media approach is also neglected in both countries. Even though the media can not be an effective way to promote service of the hotel or provide information details. It can be an efficient approach to the overall brand promotion, which is thought to be a failure for Accor in both markets. As a consequence of this, media can be used to promote the image of Accor and improve the recognization situation of this company among local people, while the Internet can convey the detail information to the target groups. Conclusion To sum up, despite the fact of expansion strategy in both markets, differences are also witnessed according to the various elements like culture, economy and relationship with strength in host countries. Meanwhile, in order to get more share in these two new booming markets, Accor has also to adjust details in its strategy in order to make it more appropriate to those two countries.

Shakespeare in Love Essay -- essays research papers

The movie that is being compared to a story here is one of the all-time best. The main theme portrayed in "Shakespeare in Love" is a love that is never meant to be. "Shakespeare in Love" parallels the play Shakespeare is currently working on, Romeo and Juliet, in which love is not meant to be due to the many obstacles in the way. Shakespeare's life in the film is very comparable to Romeo's life in Romeo and Juliet. William Shakespeare's life in the film and the play he is writing has several similarities and differences. In my opinion, this is one of the best movies and books to compare. "Shakespeare in Love" is a fairly accurate representation of the life of William Shakespeare at the time he was writing Romeo and Juliet. The young writer at the beginning of the film, is experiencing writer's block. He is writing, but is confused. Will's first inspiration is Rosalind, a woman that has stolen Romeo's heart at the beginning of the play. "Romeo and Rosaline. Scene one. God, I'm Good." (Norman pg.20). This shows how Will is inspired by Rosaline. It is not until he encounters the young noblewoman, Viola de Lesseps, that he discovers true love. This love that he meets is the one who takes his heart and is so special. The connection between Will and the woman he fell are love with is so special. Ultimately this movie is about the making of a great play, but most importantly it is about the power of words. The way they speak to each other is just like a play and it is true love being spoken. This is a connection that is love which, is never meant to last. In Romeo and Juliet, both Romeo and Juliet fall in love with each other as soon as they lay eyes on each other. The difference from this movie and the play, Romeo and Juliet, is that Will and Viola find love but they do not proceed it to the level it needs to go. However, in "Shakespeare in Love," both William and Viola feel true love at first sight, but it is more of an image that Viola falls in love with. She has fallen in love with some that she sees and everything about the poet. The mystique that surrounds William Shakespeare is uncontrollable and that is what she loves no matter what is wrong. It is after she spends more and more time with him that she begins to fall ... ... separated. "Goodbye, my love, a thousand times goodbye." (Norman pg. 116). Shows how Viola and Will had to say goodbye to each other. The reason for Will and Viola not being able to be together is because she is already set to be married. The reason for Romeo and Juliet is that there family and groups hate each other. Also, Romeo and Juliet do not get to act with each other like Will and Viola does. Will and Viola got to see each other much more. I have learned from the movie and the play that these are two very different and similar plots. When I watch the movie Shakespeare in Love, it is like I am watching William Shakespeare live same life as his famous screenplay, Romeo and Juliet. The nice thing about the movie is that no one had to die. Will fall in love with this beautiful woman, Viola de Lesseps. They share a hidden romance. Eventually, they will have to separate because she is already set to marry a man named, Lord Wessex. Sometimes it gets sad to know that they did not get to finish the romance, but Will would use his secret love to be a topic in some of his future love plays. I feel this is a fantastic movie and I would watch it again sometime if I had too.

Gender Bias in the Classroom Essay -- essays papers

Gender Bias in the Classroom RESEARCH IN CHILD DEVELOPMENT AND THEORIES OF LEARNING Gender inequity is not only learned and accepted in the socialization process that starts at home, but is also present in the school environment form the very early years. Parents and teachers consciously or unconsciously reinforce sex stereotypes. In 1992 Olivares and Rosenthal's research findings examined three areas: 1-interactions in the classroom that are both teacher-to-student and student-to-student 2-instruction features involving relation between classroom activities and the gender of the students assigned to perform the activities 3-the perceptions of gender roles through teachers modeling of sex stereotypes in the classroom. There are fundamental elements of the school environment develop and reinforce inequity: teachers may be unaware of their gender bias; there is a lack of school textbooks and other instructional materials are sex-bias free; and children may interact according to strongly stereotyped gender blueprints. There are teachers who promote gender equity and believe all students should receive the same opportunities to classroom resources and participation an activities. A number of teachers believe the cause of gender equity is best served through a approach of extending equal opportunities to all students and being sensitive to the special need of the groups perceived to be "at risk." Commeyras et al. (1997) stated that teachers generally agreed the there is a need for implementing gender-fair strategies, yet feel uncomfortable actively addressing gender issues in their classrooms. They are often unsure how much authority they should exert in determining the content and direction of students' talk during classroom discussions. Singh (1997) states educators need to decide upon a philosophical position to follow. Teachers need to be aware of their role in shaping gender perceptions among learners. In 1995 David and Jacqueline Sadker found that females were being shortchanged in classrooms. Girls received less praise, help, and intense instruction that creates academic confidence and success. Boys attracted more attention by calling out and acting up, demanding more teacher time and talent. The well-behaved girls became spectators as... .... [http://www.ed.gov/databases/ERIC_Digests/ed328610.html](9/18/00). Dickman, C. B. (1993). Gender differences and instructional discrimination in the classroom. Journal of Invitational Theory and Practice, 1993. Vol. 2, No.1.lycos.com.[http//www.uncg.edu/ced/iais/journal/v21p35.htm] (9/18/00). Manjari, S. (1998). Gender issues in the language arts classroom. ERIC Clearinghouse on Reading English and Communication Bloomington IN. [http://www.edgov/databases/ERIC_Digests/ed426409.html] (9/18/00). Rothenberg, D. (9/95). Supporting girls in early adolescence. ERIC Clearinghouse on Elementary Childhood Education Urbana IL. [http://www.edgav/databases/ERIC_Digest/ed386331.html] (9/18/00). Sadker, D. & J. (11/1/95). Equity update. lycos.com. [http://www.lycos.comsrch/more.html] (9/18/00) Sadker, D. (5/6/99). Gender equity: Still knocking at the classroom door. Educational Leadership 56 no7 22-6 Ap‘99.[http://vweb.hwwilsonweb.com/cgibin...GT.&SP.URL.P=(H9Z7)J(0O00041 061)& (10/10/00) Sanders, J. (5/97). Teacher education and gender equity. ERIC Clearinghouse on Teaching and Teacher Education Washington DC.[http://www.ed.gov/databases/ERIC_Digests/ed408227.html] (9/18/00)

MagRec Inc. Essay

1. If I were the manager I would have pushed for a more moral, honest solution to the problem with Partco. The company should have owned up to the poor quality parts and offer to fix any damaged parts for customers. Even though it would have cost the company time and money, it was the right thing to do. I think that if the company were to explain the situation to Partco- with the one bad batch of parts, and assured them that it wouldn’t happen again and they appreciate their long time business and loyalty- that Partco and MagRec could have agreed on some type of solution. Dinah was looking out for the customers and MagRec’s reputation, which the manager should have been concerned about as well. If I were the manager I would have stuck up for Dinah’s viewpoint. 2. I think Dinah had the right intentions in looking out for the company. I don’t think that she personally should have gone to Partco. I think someone in upper level management should have gone to Partco. Dinah going to Partco put the blame on herself, which in turn caused tension between her co-workers and herself. She should have gone to Pat an addition time and rationally and calmly explained her viewpoint and opinion on how to solve the problem. And if Pat wasn’t going to follow through with a solution that she agreed with, then she should start looking for employment else where, because a company with corrupt ethics is not a good company to affiliate yourself with. 3. The cognitive dissonance theory describes a state of inconsistency between an individual’s attitude and behavior. It is when a person alters their behavior based on conflicting situations. I don’t think this theory applies to Dinah because she didn’t let the conflicting situation alter her behavior, she felt MegRec was acting dishonest and knew it wasn’t right so she informed Partco of the situation, despite the consequences she knew she faced.