Economic Downturn in East Asia

A large economic downturn in East Asia threatens to end its nearly 30 year run of high growth rates. The crisis has caused Asian currencies to fall 50-60%, stock markets to decline 40%, banks to close, and property values to drop. The crisis was brought on by currency devauations, bad banking practices, high foreigh debt, loose government regulation, and corruption. Due to East Asian countries has prompted other countries to worry about the affect on their own economies and offer aid to the financially troubled nations (Sanger 1). The East Asian crisis has affected almost all of he Asian nations, but the three hardest hit countries are Thailand, Indonesia, The panic began in Thailand in May of 1997 when speculators, worried about Thailand†s slowing economy, exces sive debt, and political instability devalued the baht as they fled for market-driven currencies like the American dollar. Indonesia†s evonomy soom fell soon after when the rupiah hit a record low against the U. S. dollar. Indonesia is plagued by more than $70 billion worth of bad debts and a corrupt and ineffcient government. Thailand and Indonesia also suffer from eing overbuilt during real estate booms that reven2 were the result of huge influxes of cash by ooptimistic foreign debt, decreasing exports, and weakening currency (Lochhead 4-5). Other major countries touched by the crisis are Japan, China, Malaysia, and the Philippines. Japan†s economy is burdened by 300 billion in bad back loans and a recession. Chinese bank may carry badd banks loans of up to $1trillion. The banks lend 66% of China†s investment capital to state-run industries that only produce 12% of China†s Malaysia and the Philippines are both faced with devvalued currencies nd lowered stock markets (Lochhead 5). The implicationsof the Asian financial crisis are many. A declining Asian economy will reduce demand for U. S. and other countries† exports. The devalued currencies of East Asia will make Asian imprts seen cheap and will lead to increased American imports, thus increasing our trade deficit (Lochhead 2). A worldwide banking emerge could result if the embattled Asian economies failed to pay back thier loans to the U. S. and other countries (Duffy 2). If the Asian economies fall further, in a desire to raise cash, they might sell the hundreds of billion dollars of U. S. reasuries they now own, leading to higher interest An article in the Economist reported that the Asian economic turmoil and trhe layoffs that may result, could instigate increased discontent and possibly give rise to violent strikes, riots, and greater political instability. Since the financial turmoil causes instability in the world market, several solutions have been porposed designed to restore the health of the Asian economy. The int4ernational Monetary Fund is offering $60 billion in aid packages to Thailand, Indonesia, and South Korea. The aid will be used for converting short-term debt to long-term debt nd to keep currencies from falling lower in the world market. Lower currency values make repaying loans to other nations more difficult. The aid packages are tied to measures that will ensure that the recipient countries reform their economies, some of the measures the nations must follow are increasing taxes to decrease budget deficits, ending corruption, increasing bank banking regulations, and improving accounting information so investors Closing insolvent banks, selling of inefficient state enterprises, and increasing interest rates to slow growth and encourage stability. Hopefully these market reforms will allow East Asia to improve its economic outlook. Since most of the Asian nations have balanced budgets, low inflation, cheap labor, pro business governments, and high savings rates, the long-term outlook for these countries is very good. The financial crisis, instead of destroying the Asian tigers, will merely serve as a much needed lesson in debt management, orderly growth, competent accounting practices, and efficient government. Considereing the size of Asias contribution to the world economy, a rapid recovery will be greatly anticipated.

Night World : Black Dawn Chapter 19

â€Å"The hunt of your lives,† Hunter Redfern said. Hewas standing handsome and erect, smiling easily. The nobles were gathered around him, and Maggieeven saw some familiar faces in the crowd. That rough man from Delos's memories-the one who grabbed his arm, she thought dreamily. And the woman who put the first binding spell on him. They were crowded in the courtyard, their faceseager. The first pale light was just touching thesky-not that the sun was visible, of course. But it was enough to turn the clouds pearly and cast aneerie, almost greenish luminescence over thescene below. â€Å"Twohumans,a witch, and a renegade prince,†Hunter proclaimed. He was enjoying himself hugely, Maggie could tell. â€Å"You'll never have another chance at prey like this.† Maggie gripped Delos's hand tightly. Shewasfrightened butatthesame time strangely proud. If the nobles around Hunter wereexpecting their prey to cower or beg, they were going to be disappointed. They were alone, the four of them, in a littleempty space in the square. Maggie and Aradia and Jeanne in their slave clothes, Delos in his leggingsand shirtsleeves. A little wind blew and stirredMaggie's hair, but otherwise they were perfectly still. Aradia, of course, was always dignified. Just nowher face was grave and sad, but there was no sign of anger or fear in it. She stood at her full height,her huge clear eyes turned toward the crowd, as if they were all welcome guests that she had invited. Jeanne was more rumpled. Her red hair was disheveled and her tunic was wrinkled, but there wasa grim smile on her angular face and a wild battlelight in her green eyes. She was one prey that wasgoing to fight, Maggie knew. Maggie herself was doing her best to live up tothe others. She stood astall as she could, knowing she would never be asimpressive as Aradia, or as devil-may-care as Jeanne, but trying at least to look asif dying came easy to her. Delos was magnificent. In his shirtsleeves, he was more of a prince thanHunter Redfern would ever be. He looked at thecrowd of nobles who had all promised to be loyalto him and were now thirsting for his blood-and he didn't get mad. He tried to talk to them. â€Å"Watch what happens here,† he said, his voicecarrying easily across the square. â€Å"And don't forgetit. Are you really going to follow a man who cando this to his own great-grandson? How long is itgoing to be before he turns on you?Before you findyourselves in front of a pack of hunting animals?† â€Å"Shut him up,† Hunter said. He tried to say it jovially, but Maggie could hear thefuryunderneath. And the command didn't seem to make much sense. Maggie could see the nobles looking at each other-who was supposed to shut him up, and how? â€Å"There are some things thatt have to be stopped,† Delos said. â€Å"And this man is one of them. I admitit, I was willing to go along with him-but that was because I was blind and stupid. I know betternow-and I knew better before he turned againstme. You all know me. Would I be standing here,willing to give up my life for no reason?† There was the tiniest stirring among the nobles. Maggie looked at them hopefully-and then herheart sank. They simply weren't used to thinking for themselves, or maybe they were used to thinking only of themselves. But she could tell there wasn't material for a rebellion here. And the slaves weren't going to be of any help,either. The guards had weapons, they didn't. Theywere frightened, they were unhappy, but this kind of hunt was something they'd seen before. Theyknew that it couldn't be stopped. â€Å"This girl came to us peacefully, trying to keepthe alliance between witches and vampire,† Deloswas saying, his hand on Aradia's shoulder. â€Å"And inreturn we tried to kill her. I'm telling you rightnow, that by spilling her innocent blood, you're allcommitting a crime that will come back to hauntyou.† Another little stirringamong women, Maggie thought. Witches, maybe? â€Å"Shut him up,† Hunter said, almost bellowing it. And this time he seemed to be saying it to a specific person. Maggie followed his gaze and saw Sylvia near them. â€Å"Some beasts have to be muzzled before they canbe hunted,† Hunter said, looking straight at Sylvia.†So take care of it now. The hunt is about to begin.† Sylvia stepped closer to Delos, a little uneasily.He stared back at her levelly, as if daring her towonder what he'd do when she got nearer. â€Å"Guards!† Hunter Redfern said, sounding tired. The guards moved in. They had two differentkinds of lances, a distant part of Maggie's mindnoted. One tipped with metal-that must be for humans and witches-and one tipped with wood. For vampires, she thought. If Delos wasn't careful, he might get skewered in the heart before thehunt even began. â€Å"Now shut his lying mouth,† Hunter Redfernsaid. Sylvia took her basket off her arm. â€Å"In the new order after the millennium, we'llhave hunts like this every day,† Hunter Redfernwas saying, trying to undo the damage that hisgreat-grandson had done. â€Å"Each of us will have a city of humans to hunt. A city of throats to cut, acity of flesh to eat.† Sylvia was fishing in her basket, not afraid tostand close to the vampire prince since he was surrounded by a forest of lances. â€Å"Sylvia,† Aradia said quietly. Sylvia looked up, startled. Maggie saw her eyes,the color of violets. â€Å"Each of us will be a prince-† Hunter Redfernwas saying. â€Å"Sylvia Weald,† Aradia said. Sylvia looked down. â€Å"Don't talk to me,† she whispered. â€Å"You're notI'm not one of you anymore.† â€Å"All you have to do is follow me,† Hunter wassaying. â€Å"Sylvia Weald,† Aradia said. â€Å"You were born awitch. Your name means the greenwood, the sacred grove. You are a daughter of Hellewise, andyou will be until you die. You are my sister.† â€Å"I am not,† Sylvia spat. â€Å"You can't help it. Nothing can break the bond.In your deepest heart you know that. And asMaiden of all the witches, and in the name of Hellewise Hearth-Woman, I adjure you: remove your spell from this boy.† It was the strangest thing-but it didn't seem tobe Aradia who said it. Oh, it was Aradia's voice, allright, Maggie thought, and it was Aradia standingthere. But at that moment she seemed to be fusedwith another form-a sort of shining aura allaround her. Someone who was part of her, butmore than she was. It looked, Maggie thought dizzily, like a tallwoman with hair as pale as Sylvia's and largebrown eyes. Sylvia gasped out, â€Å"Hellewise †¦ .†Her own violeteyes were huge and frightened. Then she just stood frozen. Hunter was ranting on. Maggie could hear himvaguely, but all she could see was Sylvia, the shudders that ran through Sylvia's frame, the heavingof Sylvia's chest. Appeal to their true hearts,Maggie thought. â€Å"Sylvia,† she said. â€Å"I believe in you.† The violeteyes turned toward her, amazed. â€Å"I don't care what you did to Miles; Maggie said.†I know you're confused-I know you were unhappy. But now you have a chance to make upfor it. You can do something-something importanthere. Something that will change the world.† â€Å"Rivers of blood,† Hunter was raving. â€Å"And noone to stop us. We won't stop with enslaving thehumans. The witches are our enemies now. Thinkof the power you'll feel when you drink their lives!† â€Å"If you let this Wild Power be killed, you ‘I! beresponsible for the darkness coming,† Maggie said.†Only you. Because you're the only one who canstop it right now.† Sylvia put a trembling hand to her cheek. Shelooked as if she were about to faint. â€Å"Do you really want to go down in history as the one who destroyed the world?† Maggie said. â€Å"As Maiden of all the witches †¦Ã¢â‚¬ Aradia said.And another, deepervoiceseemed to follow on hers like anecho , As Mother o f all the witches †¦Ã¢â‚¬ And in the name of Hellewise . . And in the name of my children†¦ â€Å"As you are a Hearth-Woman †¦Ã¢â‚¬  As you are my own daughter, a true Hearth Woman †¦ â€Å"I adjure you!†Aradia said, and her voice rangout in double tones so clearly that it actuallystopped Hunter in midtirade. It stopped everyone. For an instant there was absolutely no sound in the courtyard. Everyone wa: looking around to see where the voice had come from. Sylvia was simply staring at Aradia. Then the violet eyes shut and her entire bodyshivered in a sigh. When she spoke it was on the barest whisper of breath, and only someone as close as Maggie wa:could have heard her. â€Å"As a daughter of Hellewise, I obey.† And then she was reaching for Delos's arm, ancDelos was reaching toward her. And Hunter wa: shouting wildly, but Maggie couldn't make out thewords. She couldn't make out Sylvia's words, ei.ther, but she saw her lips move, and she saw the slender pale fingers clasp Delos's wrist. And saw the lance coming just before it piercecSylvia's heart. Then,as if everything came into focus at once she realized what Hunter had been shouting in i voice so distorted it was barely recognizable. â€Å"Kill her! Kill her!† And that's just what they'd done, Maggie thoughther mind oddly clear, evenasa wave of horror andpity seemed to engulf her body. The lance wen right through Sylvia. It knocked her backwardaway from Delos, and blood spurted all over thefront of Sylvia's beautiful green dress. And Sylvia looked toward Hunter Redfern andsmiled. This time Maggie could read the words orher lips. â€Å"Too late.† Delos turned. There was red blood on his whiteshirthis own, Maggie realized. He'd tried to getin the way of the guard's killing Sylvia. But nowhe had eyes only for his greatgrandfather. â€Å"It stops here!† She had seen the blue fire before, but never likethis. The blast was like a nuclear explosion. Itstruck where Hunter Redfern was standing with hismost loyal nobles around him, and then it shot upinto the sky in a pillar of electric blue. And it wenton and on, from sky to earth and back again, as ifthe sun were falling in front of the castle.

Media Fast Assignment Essay Example | Topics and Well Written Essays - 750 words

Media Fast Assignment - Essay Example During the first 48 hours without the media screens, I was so excited. I indulged in other activities; for instance mowing my lawn, and reading a novel which I bought and never opened its pages. As time progressed, my excitement turned into boredom. I got bored and wished for screen media; I anticipated the end of the 48 hours. After the 48 hours without the media, I was relieved to resume my regular life with media screens. Challenges encountered during the media fast assignment entailed media activities that were very difficult to avoid. These challenges focused on media activities that I found very hard to avoid. I had difficulty in avoiding texting, using the internet via my laptop, and watching my favorite series which coincided with the media fast period. These media activities were very difficult to avoid because I have a habit of using these media devices often. My life is centered on the media devices; doing away with them for 48 hours was torturing, although I was excited initially. I did not carefully access the experience that I was going to go through. I had no idea that I was not prepared for this experience. I usually use the media for communication purposes as well as entertainment purposes. I have a habit of texting my friends, and using the internet to communicate with my friends via social sites; like facebook, twitter and Linkedin. For communication purposes with my friends, I opted to give myself some alone time. I mowed my lawn and cleaned up the house. I thought that staying away from the media communication segment with my friends would do me good as I now had time to contemplate on my life and my surroundings. This alternative worked well for me as I managed to clean up my house all by myself without seeking assistance. Usually, I seek assistance from companies that offer cleaning services. In one, way, I was able to save up my money and clean up my own mess. I am addicted to the television movies and series; I even have my

International intercultural management Assignment

International intercultural management - Assignment Example 2. Hofstede’s Model in Relation to Cultural Aspects Every nation has its own set of standards that define the culture in terms of thinking, being and acting, and these differences have a very strong impact on the business communication and workplace values in any organization. Something that may be considered perfectly normal and natural in an organization of one country can be frowned upon and seen as offensive in another. Values will always differ across cultures. Therefore, we have to understand these varying differences in order to describe and forecast employee behaviour from various countries. Some cultures value decisions that are made in a group, while others think that the leader should take control of the decision-making. For almost all business organizations, it is crucial to be aware of how the cultures will affect the workplace values because it will provide them with a framework of assessing the different dimensions. One of the most determined studies of the cult ural differences and how they influence organizational issues was commenced by Geert Hofstede, a Dutch scholar which involved data on more than 116,000 employees of IBM representing forty countries. Many of these dimensions will be based on Geert Hofstede’s framework for assessing cultures (Brown, 2009). It is important to understand where the values across cultures stem from, or what the source is. Previous research has identified two clear forces that have an impact on the formation of values that managers who are engaged in international business possess (Ronen, 1986; Webber, 1969). These two forces can be categorized into national culture as well as business environment. Both the culture of the nation and the environment the business operates in will have a significant influence on the values that an organization will possess. Triandis et al. (1986) brings forth the proposal that a way to have an understanding of the culture is to identify the dimensions of the variations in the culture of the organization such as Hofstede (1980). In a study including more by Geert Hofstede, it was found out there were four basic dimensions along with work-related values that differed across cultures: power distance, uncertainty avoidance, masculinity/femininity, and individualism/collectivism. Later on, work by Bond presented with a fifth dimension i.e. the long-term/short-term orientation. Power Distance is related to the extent to which a culture’s members accept an imbalanced distribution of power. Hofstede’s Power distance Index measures the degree to which the less dominant members of establishments and institutions accept the unequal distribution. This will almost always represent discrimination, but defined from below instead of above. It proposes that a society’s level of variation is recognised by the followers as much as by the leaders. If we look at France, we see that the power distance index is comparatively higher than the rest of the countries; around 68. This means that in the management as well as the general lifestyle of France there is a big gap between the social classes, and there are clear definitions of status involved.

Decolonizing Pacific Studies Essay Example | Topics and Well Written Essays - 500 words

Decolonizing Pacific Studies - Essay Example Imperialism vividly describes all the events that occurred during colonialism, and during the entire period that this process occurred, there are many historical accounts written to express the emotions of the local people during this critical period. The process of imperialism began with historical figures such as Christopher Columbus a long time ago, and these people were the ancestors of colonization. Indeed, colonialism and imperialism are synonymous, and they both had similar goals in the systematic areas that they were adopted.The primary aim of imperialism was to cater for the expansion of Europe, as the lands that were under these powerful countries had abundant raw materials that would help boost the industrial sector in the developed and more advanced nations (Smith, 1999).Colonization was the immediate result of imperialism, and it helped the countries that ruled over the others to attain raw materials, the best agricultural products and ready labor for the colonizer. Late r on the indigenous people of this era began to fill the pinch of colonization, they understood what was occurring and began studying various concepts concerning imperialism.The native population put up their structures and had particular systems of order in place as they started enlightening themselves on the rule of law. Imperialism had at that time destabilized the fabric of many indigenous communities, and it had disconnected them from much of their life including their home, people, culture, language and beliefs.

Changes in Network Structure and Ownership of US Broadcast Television Essay

Changes in Network Structure and Ownership of US Broadcast Television - Essay Example Traditionally the US television industry was guided by the sheer ethical standards of good programming and content presentation. The networks adopted the basic principle of understanding the viewers as the owners of the air and had been providing them with programmes treating them as sovereigns.The United States Broadcast Television industry has undergone a tremendous change in the last few years due to various factors like shift in the viewers' media-consumption habits, technological advancements resulting in new digital products and reduction in the advertising revenue. Grabbing audience, holding on to them and to monetize on the audience have become tough jobs for the Broad Cast companies with the advent of Internet sites like YouTube that offer television programming including shows from NBC with little financial gain for the networks. Not only the net works but all the media companies are facing the brunt due to the uncertain future of the media business. Before the year 2006 te levision companies profited almost entirely from producing, distributing and selling TV content. Success in those areas meant higher profits and returns for the stakeholders. However this trend had changed with the intrusion of online stores and a variety of digital platforms with which the TV media had to compete. This paper makes a study as to how this state of affairs has necessitated changes in the network structure and ownership of US Broadcast Television industry.Traditionally the US television industry was guided by the sheer ethical standards of good programming and content presentation. The networks adopted the basic principle of understanding the viewers as the owners of the air and had been providing them with programmes treating them as sovereigns. Providing true entertainment was the sole business motto of the network companies. Principles of free enterprise system guided the network companies to broadcast programmes with values and commercial advertising formed a minor part of these entertainers. But with the advent of internet the situation stated drifting and the advertising revenues started declining "Faced with competition from an array of digital competitors, which produce content of their own and sometimes even carry network programming, TV companies have seen their revenues shrink, along with the confidence of traditional Wall Street investors". (Anne Becker 2007) The competition from the digital competitors was the major hurdle for the network companies to continue to survive healthily as this competition started eating up their advertising revenue. This echoed in the quality of the content and programming expertise of the network companies as even the larger ones had to resort to job cuts and were unable to retain real talents by paying hefty salaries and perks. 3.0 Effect of Reduction in Advertising Revenues on Network Companies: One of the major problems identified as leading to the reduction in the revenues to the net work companies is the reduction in the advertising revenues. As against the increase in the ad-spending for the internet was predicted to scale up to 13 percent in 2006 the network-TV advertising remained flat without any increase and newspaper advertising fell 3 percent according to a report by TNS Media Intelligence. Such drastic changes in the revenues had forced the major network companies to cut the jobs and thereby reduce the cost to increase the profitability. "NBCU announced its layoffs after its broadcast network dropped more than 15% in the adults 18-49 demographic over two consecutive seasons and the company saw its profit plummet 10% during third quarter 2006". (Anne Becker 2007) Similarly MTVN has also resorted to job cuts after the share price of its parent company Viacom fell over the past year. MTNV had removed all the staff from its two cable networks, giving their responsibil ities to other staffers at MTV and VH1. 4.0 Commercials and the Web sites: Another important factor which needs consideration in falling revenues of the network TV companies is the shift in the advertising sponsors resorting to internet media than the Television media. Alex Mindlin (2007)

Personality Assessment Essay Example | Topics and Well Written Essays - 500 words

Personality Assessment - Essay Example Idiographic method, which is person-focussed, is more in use among psychologists (Weiner and Greene, 2008, pp.12). The tools used for personality assessment can be categorized into two major groups, namely, â€Å"self-report instruments† and â€Å"performance-based measures† (Weiner and Greene, 2008, pp.14). The process of assessment involves, clarifying the referral, selecting the test battery, obtaining informed consent, fostering comfort and cooperation, and obtaining interpretable data (Weiner and Greene, 2008, pp.20-30). Personality examiners have used Rorshach Inkblot Test since 1960s. This test has been devised on the realization that â€Å"individuals frequently report idiosyncratic or unique personal meanings when viewing inkblot stimuli† (Kaplan and Saccusso, 2008, pp.376). It is this phenomenon that is used in assessing individuals. By dropping ink onto a piece of paper and folding it, a Rorshach stimulus card can be made (Kaplan and Saccusso, 2008, pp .377). Rorshach had experimented with many such cards and finalized 20 of them as standard stimulus cards that can be used for psychological assessment (Kaplan and Saccusso, 2008, pp.377).

Juvenile delinquents Essay Example | Topics and Well Written Essays - 500 words

Juvenile delinquents - Essay Example Most of society’s informal actions consist of education through counseling and corrective steps where the government or an NGO are involved. Society’s formal actions are more foreboding and can involve law enforcement agencies such as the police and law courts. There are many reasons for juvenile delinquents. The most common factor is the breakdown of family as a coherent unit. There can be nothing worse for a child than a situation where mature parental care is lacking. If such care is missing for a prolonged period of time, it will not take very long for the child to come across exploitative influence of anti-social elements. The reasons for juvenile delinquency other than lack of parental care such as choice of wrong company do exist. But they are rare. It is difficult to bring about a change in the behavior of an adolescent. Adolescence is a challenging period when a boy or a girl is in the process of becoming man or woman. The problem is compounded when the behavior of a young adult is not adequately moored to the balancing influence of mature parents or other caring elders. As an outsider, I can talk to the young offender and counsel him or her. I can tell him about the consequence of his erratic behavior. I can suggest he take his work or studies seriously and keep close to good and well-behaved group of friends. These groups could be found in every place. It is only a question of choice for the young offender (Thompson, William E & Bynum, Jack E). Nothing is impossible. It depends on society’s commitment on the level of control that it desires to enforce and the means it adopts to achieve them. A healthy society will have less problems of delinquency than a society where there is unacceptable level of ignorance (Thompson, William E & Bynum, Jack E). Family is the basic unit of society. If parents function with responsibility, the chances of juvenile

Emphysema Essay Example | Topics and Well Written Essays - 750 words

Emphysema - Essay Example revention, there already had been 12, 790 deaths recorded in the United States only in the year 2007 caused by emphysema alone, while 3.8 million adults were diagnosed with the disease in the year 2008 (â€Å"Chronic Obstructive Pulmonary,† 2010). As emphysema affects people, this paper aims to increase the readers’ knowledge on what it is, its signs and symptoms, treatments, and other issues surrounding it.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Emphysema is one form of COPD in addition to chronic bronchitis. It is chronic as it is develops as a result of â€Å"many years of assault on lung tissues from cigarette smoke or other toxins that pollute the air† (Lewis, 1999, p. 1). The American Thoracic Society and the European Respiratory Society (2004) define it as â€Å"the presence of permanent enlargement of the air spaces distal to the terminal bronchioles, accompanied by destruction of their walls and without obvious fibrosis† (p. 8). Naturally, the lungs have defenses such as macrophages and other free-roving cells that protect it from foreign particles that could impair its natural functions of breathing and oxygenation. However, this protection from the invading particles is only limited (Boyce, 1997, p. 80). Continued smoking or exposure to polluted air, the main risk factors of emphysema, cause the particles to â€Å"tend to stay in the lungs and can cause lung damage† by scarring or forming fibrosis resulting to air sac walls being destroyed leading to COPD and other lung diseases (Crowley, 2010, p. 379; Boyce, 1997, pp. 80-81). Some reports providing link between the developments of emphysema after dental treatments have also started to appear (Gamboa-Vidal, Vega-Pizarro, & Almeida-Arriagada, 2007). Nonetheless, further studies to support such claims are still suggested. In continuation, the function of the substance elastin that allows flexibility in lungs becomes impaired with smoking habits and exposure to air pollutants (Parkinson, 2007, p. 22). The release of substance

Poisonwood Bible Essay Example for Free

Poisonwood Bible Essay Adahs Development In Barbara Kingsolvers novel The Poisonwood Bible, the Price family, Nathan and Orleanna Price and their four daughters, travel to the Congo to convert the locals to Christianity. Kingsolver constructs a multi-voice narrative and in doing so Kingsolver constructs five different personalities: Orleanna Price, Rachel Price, Leah Price, Adah Price, and Ruth May Price. As the novel progresses, each of the characters experiences a dramatic change throughout the book and through the use of textual evidence and deep analysis of the diction and rhetoric used for the character Adah Price; leading us to discover how she transforms in the novel and what this variation is exactly. Adah, who is a cripple since birth, has never been able to move the left side of her body and is psychologically a mute. This enables her to see the world from a different perspective and strangely views things backwards. She believes that her life has no value to her or anyone else. Adah has a twin sister Leah who is perfectly normal and Adah carries a lot of hatred toward Leah because its her fault that she is handicapped. Oh, I can easily imagine the fetal mishap: we were inside he womb together dum-de-dum when Leah suddenly turned and declared, Adah you are Just too slow. I am taking all the nourishment here and going on ahead. She grew strong as I grew weak. And so it came to pass was cannibalized by my sister (Kingsolver 34). This view held by Adah comes into play many times in the novel and even Leah can tell that here is some hostility between them. Young Adah also has this fascinating plan. She is believed to be mute because of what doctors had told her parents, but in fact she is very intelligent and she insists on not talking in order to simplify her life and act more as an observer rather than a doer. Her naturally detail-oriented nature is well illustrated by the diction and tone she uses. the women working their field will stand up one after another, unwrap the pagne of bright cloth stretch it out wide before retying it. They resemble flocks of butterflies opening and closing their wings (Kingsolver 137). The initial observation of the way these women work the field is unlike the other girls who merely comment that the women pound the manioc. Adah observes and analyzes the women in a factual manner and yet that last sentence reveals more about her character. She oes from making a remark that almost scientifically evaluates the womens movements to making a statement that brings an artistic form of examining the actions and uses powerful imagery for the reader to associate with. However, Adah does not stay like this throughout the whole novel. She experiences an event that shifts her character in such a way that although it does not have an immediate impact, it changes her completely in the long run. Live was I ere I saw evil (Kingsolver 305). On the frightful night when Kilanga, the village were the Price family was living, was swarmed by a massive group of ants known as Nsongonya Adah was left behind. She woke to the sound of screams and felt ants all over her. Her mother ran into the room, baby Ruth May bundled in her arms. Adah, for the first time perhaps pleaded for help. Help me (Kingsolver 305). Orleanna stared at her crippled daughter and turned away. This was a huge turning point for the young girl. In the simple plea alone, the way Kingsolver phrased it l [Adan] spoke out loud, tn only time: help me (Kingsolver 305), one could see that this was a simple phrase; not shouted or screamed, simply stated. When Adahs plea was not answered she was left dumbstruck and proceeded to fght for her life. Although Adah originally believed that everyone found her life to be of no value she was still horror struck when her mother did not come to her aid, but she still decided to save herself because she realized her own self-worth. No longer was she an idle observer, she became a doer. If her mother would not save her, then Adah would do it on her own because she knew her life was worth saving. This fateful night carries on into the rest of her days, perhaps not immediately, but it does affect her character in the end. When Adah finally returns to the US with her mother, Orleanna, she has almost completely ndergone her transformation. The Journey from Africa alone had left a great mark on Adah because of her mothers tenacity to bring her daughter home safe and sound. Adah was astounded by her mothers ferocious protection of her. When they finally do get home however, Adah immediately applies to Emory University and studies the medical sciences which she takes up as her religion. However, much has changed. Adah finds that without anyone to speak for her she must get used to speaking rather than observing and is shocked at first by the sound of her voice, but this is not the greatest change. The most dramatic alteration is one that she only picks up on for a moment in the final part. She states that she has always sacrificed life and limb and half a brain to save the other half (Kingsolver 410). Adah finds it unusual to now owe her mother something when her own life has been a constant struggle. My habit is to drag myself imperiously through a world that owes me unpayable debts. I have long relied on the comforts of martyrdom (Kingsolver 410). The very tone of this phrase represents beautifully the realization that has struck Adah like a lightning bolt in this moment. The word imperiously gives the reader perfect imagery of a disgruntled and displeased Adah who hates the world and yet that second sentence reveals something else. She has come to know what it feels like to owe someone an unpayable debt and that her whole life has been driven from this one disability. The words comfort and martyrdom are so opposite that they balance out the sentence and give the reader an understanding of how Adah felt about her handicap. What is even greater is the physical transformation that follows this mental one. Adah meets a neurologist who informs her that he can help er overcome her limp. This intrigues her and after several months Adah no longer has to bear her physical disability. She is at first amazed that this cross she has born all these years could somehow be taken care of like that. However, as she progresses through the novel she finds that this recovery is balanced out by the inability to see words and phrases backwards and in a completely different perspective like she used too. At times she limps purposefully around [her] apartment trying to recover [her] old ways of seeing and thinking (Kingsolver 492). This sentence shows ow she still longs for the days when she was different and had something to wield against the world. The imagery provided allows the reader to vividly imagine Adah trying with all her might to limp and be as she once was, but away from the public eye. She continues to live as the recovered individual that she is now and only seems to regret the loss of an edge that she once held. Adahs transformation in the novel was one ot a seemingly helpless child into a tully tunctioning adult who nad experienced things that no one in her community could top. She realized a self worth that she did not possess at the beginning of the novel. Adah Price was a cripple. Adah Price is a cripple. The genius girl that went to the Congo is not the same one that returned and lived the rest of her life in the US. She no longer has a physical handicap that got her mocked and looked down upon, but she does not have that special outlook on the world either. Adah now knows people whom she can work with and share time with because she will talk now, but she owes her mother an unsettled debt, that may never be resolved in her heart and mind. Adah has changed for better or worse is uncertain. In the end experiences add up and the results always balance each other out.

Performance Measurement In The Public Sector Finance Essay

Performance Measurement In The Public Sector Finance Essay In recent years governments within Canada have been facing increased pressure from the public to be more financially accountable, transparent and responsible when it comes to managing tax dollars. In large part, this is due to several economic and social pressures, such as an aging population, budgetary deficits and various financial scandals, which make the need for effective and efficient financial management a pressing matter. Governments have been developing systems, approaches and processes to continually ensure value for money, including integrating private sector practices into the public sector (e.g. New Public Management and Public Sector Renewal). One such private sector practice is the extensive use of and reliance on performance measures, which are used to obtain information thought to be critical to ensuring effective and efficient financial management, such as tracking government debt, program success, and forecasting future programming needs. This paper will demonstrate and explore the theory of performance measurement, including its advantages and disadvantages. A case study will then be presented, which will outline, apply, and assess financial performance measures used by the Ontario government on its provincial budget covering the period from 2002 to 2007. The paper will then conclude with observations and recommendations for more effective use of performance measures and a better understanding of the benefits and, perhaps more importantly, the limitations of performance measurement. Performance measures, while a useful tool, are not sufficient to guarantee effective and efficient management of public resources. Context for the need for performance measure in the public sector Governments are increasingly grappling with complex social and economic pressures. For instance, the aging of the population is expected to have important impacts on governments revenues and expenditures. With soaring health care costs as the population ages, Roy Romanow (2002) in his report on the future of health care in Canada estimates that annual per capita expenditure on people aged 65 and over is three times as much as the average of all age group spending (p.57). Looking at Ontarios annual report and consolidated financial statements between 2002 and 2007, the province has seen a significant increase in its expenditure in health and long term care where the province increased its expenditure by approximately 9.9 billion dollars or a 36.8 percent spending increase over five years. Overall expenditures during the same time period have increased by 20.4 billion dollars or a 28.6% increase. This essentially means that approximately 49% of the increase in expenditure went to health care spending. Ontarios revenues on the other hand increased by 21.8 billion dollars or a 31.8% increase. However, net debt has increased by 8.5 billion dollars or a 6% increase (Please refer to appendix 1.1). As these statistics show, expenditures on health care represent a significant proportion of provincial spending, a situation that may be exacerbated by an aging population. Furthermore, Saks and Haccoun (2004) estimates that Canadian labour supply shortage will reach the one million plateau by year 2020, which can have significant adverse effects on the Canadian economy and its provincial and territorial counterparts in terms of ability to raise taxes and maintain current program expenditures and ensure a sustainable economy in the future. As a result of these pressures and complexities, governments have started to examine its role in society and the various ways through which programs are delivered and managed. For instance, governments are increasingly delivering programs and services through partnerships as a means of improving efficiency in the delivery of services to Canadians. With increasingly complex and varied configuration of delivery of public services, there exists a real need to identify separate roles and responsibilities of participating partners and to develop expectations, standards, and measures of performance to ensure transparency, accountability, and sustainability. What is Performance Measure: Definitions and Considerations One of the results of this movement for better public service delivery is the integration of private sector practices, including performance measurement to ensure transparency, accountability and sustainability even in the face of pressures and complexities facing the public sector. In recent years, several developed countries and some developing countries have made increasing use of performance concepts and results indicators, both in their managerial practices and in the formulation and execution of public programs (Performance Measurement in Public Administration, p. 649-650). Performance measurement is also considered by some experts as the first step toward improving the performance of a public-sector organization, and, if backed by an appropriate incentive system, it can help shift organizational focus from inputs to outputs and outcomes and thus improve efficiency and effectiveness (Performance Measurement in Public Administration, p.663). It is essentially the collection of a bout an organizations performance indexes that will equip a program manager to evaluate its changes in performance over time (Carroll and Dewar, 2002). Performance measures are believed to be first applied in the public sector in 1960, when calls for the improvements in processes in which the way the government manages its resources or inputs to maximize efficiency and effectiveness started becoming more pronounced. It is argued that by tracking performance, the government is better able to meet its budget goals and objectives. There are many factors to consider when developing or applying a performance measure in an organization. The main factor that must be considered is cost. Can the organization afford the costs associated with developing, maintaining and implementing a performance measure? Clear, concise and realistic performance goals are needed. The performance measure must be fully communicated to everyone in the organization, as the success of a performance measures implementation depends on everyone buying into the concept. Once a performance measure is approved, an appropriate rewards system should be included, as well as a system for modifying the performance measures if the organizations objectives are not being realized. The organization must also ensure that individuals who have to work with the performance measures within the organization are well informed about the process and the benefits of the system and how to implement it (Mayne, 2005). In other tools, realizing and achieving the full benefits of performance measurement may be compromised or limited if analysts/managers fail to appreciate and understand the nature, purpose, meaning, and limitations of the indicators. Benefits of Performance Measurement As the economy grow, the demand for government services increases as well. Ontarios gross domestic product (GDP) increased from 493.1 billion dollars in 2002 to 586.2 billion dollars in 2007 or an increase of approximately 18.9% (Please refer to appendix 1.6). This means that there could be an increased demand for government programs and services and, likely, for the Ontario governments workforce. As programs, service, and government workforce grow, there would be a need to track the various programs the government provides. Performance measures can be beneficial in a given organization in various ways if implemented properly. Some of these benefits include: workforce and program management, assessment of program effectiveness, and increased accountability. Performance measures assist in organizing information that will help track, assess and analyze how various programs are progressing over time. It is a control measure that will make sure that the public sector is delivering services to the public that will maximize the publics utility level and at the same time ensure that resources are utilized efficiently and effectively(Carroll and Dewar, 2002). The management of these processes will also ensure compliance within various departments where the process can be standardized across various departments to ensure compliance. The application of performance management hopes that managers would change from being inwardly focused to being outwardly focused on public conditions, needs and problems (Waldt, 2004, p.21). By helping managers think outside the box, performance measure will hopefully generate innovation that can be fed back into the policy process to incorporate these innovations. However, this will only work if senior management i s able to sell this idea to everyone in the organization that will help break down resistance. By overcoming these barriers, an organization can now look ahead and collect various information regarding its performance, how well it is doing in comparison to previous years?, and how it is performing against other organizations. Performance measures can also help in improving public accountability. Outcomes information will inform public debate and the political process, and thereby providing direction to Government(Waldt, 2004, p. 19). In recent years, various government sectors have faced heavy scrutiny from the tax payer, electorate, opposition parties and the media. This is due to mismanagement of government funds such as the sponsorship scandal. This is one of the reasons why various performance control measures are increasingly filtering through the public sector. Since performance measure requires information gathering, maintaining and analyzing, then its proper implementation improves government accountability, transparency and responsibility. Since the public sector is more open to scrutiny because of the advancement of the information technology and the availability of legislations such as the Freedom of Information Act, this will further assist in ensuring that public sector managers are more cons cientious. Although one must ask whether or not performance measures in the public sector exist because there is a real need to improve performance or a perceived need for one. If the cost of performance measure outweighs its benefits, then performance measures can be seen as a ploy by the government to provide peace of mind to the public. Then the cost of performance measure is essentially the cost of buying peace of mind which is a waste on its own. Finally, another benefit of proper application and implementation of performance measure is through benchmarking (Carroll and Dewar, 2000). Benchmarking allows government agencies to create and compile best practice information that can help other agencies achieve their goals. This information may be useful to other organizations to help make their operations effective. A word of caution with utilizing benchmarks is that each organization is different from one another. Therefore, these benchmarks must be modified to fit into the organizations culture, goals and objectives. Though this may be helpful, the flip side is a potential to promote laziness and block innovation (De Bruijn, 2007). Limitations to the Use/Application of Performance Measurement The main idea behind performance measures is to be able to reduce cost and at the same time provide services at the least possible cost without jeopardizing the quality of service. However, the application of performance measure alone does not mean that governments will start realizing the benefits associated with this practice. Some may question the underlying reason why performance measures are needed in the public sector. It can be argued that performance measures were implemented in another country or province and they have been successful at achieving goals through the use of performance measures as a tool (Carroll and Dewar, 2002). However, just because performance measurement works in one particular organization does not necessarily mean that it can be fully integrated in another organization and be expected to provide the same level of success (the idea of benchmarking). This brings into light various motives or the driving force for the use of performance measures. Do public sector analysts and managed really believe that performance measurement contributes to more effective financial management? Or are they simply forced to include performance measures to fulfill reporting and financial requirements from the Center of government (e.g. Treasury Board)? Or are they just following a trend or a passing fad? The implementation of performance measure in the public sector can have a few disadvantages. These limitations include the manipulation of the performance measure system, challenges and difficulties in quantifying qualitative objectives (Carroll and Dewar, 2002). One of the major problems of performance measure is the manipulation of the performance system to maximize rewards by a particular individual/organization. Performance measure objectives can be interpreted in a variety of ways that can potentially give way to manipulate the system to allow a given organization to meet its objectives on paper but not in reality. One example of how performance measure can be manipulated happened in Australia when an Aboriginal tribe was informed that its sanitation and other subsidies would depend on their performance in keeping sanitary facilities clean, they did so most effectively by thoroughly cleaning the toilets, and then closing them to the public. (p. 660, Performance Measurement in Pu blic Administration) Performance measure can be manipulated by defining the goal and manipulating other variables to meet its objectives. For instance, if a police forces objective is to decrease crime rate in a given community, it can essentially meet its goal without any real changes to the crime rate in the community in question by choosing not to report certain crimes. This practice is a waste of resources that could have been used to fund other programs that are more efficient in nature. As illustrated by the examples given, the application of performance measure can potentially generate good performance on paper but not in reality. Another disadvantage of performance measure is the challenges associated to applying it to the public sector (Graham, 2007). This is because private sector is mostly concerned with profit maximization which is a quantifiable objective. The public sector on the other hand is concerned with measuring qualitative objectives and quantifying its results. Qualitative measures can be quite challenging because it involves subjective interpretation of quality. For instance, if the governments goal is to measure the quality of secondary education provided in Ontario, and then it becomes hard to determine how well the ministry of education is performing. The reason for this is because there are a variety of ways to measure quality, where is the data coming from? What measures are used? Who measures performance? And whether or not there is a conflict of interest that will manipulate the system. Finally, quality of education may not be measured until a few years later when the students graduate h igh school. The application of performance measure also calls for rewarding good performance and punishing poor performance (Waldt, 2004). The implementation of this premise may be a challenge in the public sector because politicians can over ride budget allocation. If for instance, health care is the governments top priority, if for instance health care is the worst performing ministry within the public sector then this may be a challenge. However, this will not work in the public sector because politicians can opt to ignore the performance measure in place and increase funding for the ministry of health. It is also useful to note that the implementation of performance measurement in the public sector could potentially be more challenging than in the private sector, in part because of differing operations/service goals. While the private sectors bottom line is profit maximization, the public sector involves multiple competing stakeholders with multiple goals (Graham, 2002). For instance, there are certain stakeholders who believe in maintaining balanced books and reducing debt, while there are others who believe that the government should consistently provide for social programs, even if this implies financing services through deficit. Furthermore, a performance measures effectiveness may not be fully utilized because politicians can choose to ignore these measures or can over ride budget allocation based on performance measures. Case Study: Ontario Financial Performance Measure A budget is one of the most important pieces of legislation in any given government because it outlines how the government plans to manage its limited resources effectively. A well-conceived, -applied, or -implemented budget allows the organization to realize its goals and objectives with maximum efficiency and effectiveness (McKinney, 2004, p.264). For many years, the public sector has been experiencing increased pressure from the public to provide the best quality of service at the least possible cost. Furthermore, governments have been facing increased pressure from the public to reduce its debt, otherwise debt servicing costs will be transferred to future generations at a higher cost (principal plus interest charges). As the government becomes larger, the role of financial management plays an indispensable role in the achievement of an organizations objective. It is the fuel that gives life and substance to the engine of public administration (McKinney, 2004, p.1). Along with its growth, the number of competing stakeholders also increases and therefore, the process of allocation becomes more complicated. This is the very reason why governments are increasingly finding ways to improve its financial reporting such as the adoption of accrual based accounting and the implementation of the Public Sector Accounting standards. These are some measures used in the private sector that are now being applied in the public sector. In theory, the purpose of the application of these measures is to be able to make governments responsible, responsive and fully accountable. This section will explore and analyze the financial performance measures used by the government of Ontario to assess its effectiveness. The government of Ontarios financial analysis measures three areas which includes sustainability, flexibility and vulnerability. Sustainability measures the governments ability to meet its financial obligations. Sustainability measures Assets to Liabilities, Financial Assets to Liabilities, and Net Debt to Total Annual Revenue, Net Debt to GDP and Deficit to GDP. Flexibility measures the governments ability to move around its financial obligations across programs or across various years to be able to provide the best possible programming level. Flexibility measures Public Debt Charges to Revenue and Net Book Value to Cost of Capital Assets. Finally, vulnerability measures the extent to which the government is dependent on or can be influenced by external organizations such as the federal government, foreign institutions and foreign governments. Vulne rability measures Government Transfers to Total Revenue and net Foreign Currency Debt to Total Debt. Sustainability Assets to Liabilities measures the governments ability to meet its financial obligations through the liquidation of its assets. In the private sector depending on the company, an acceptable ratio is 2:1. However, looking at the Ontario governments assets to liability ratio, this figure hovers around 0.27:1 0.31:1 between 2002 and 2007. (Please refer to appendix 1.3). This figure may be way below the private sector expectations but the chances of a government experiencing bankruptcy (especially in developed countries) is quite low, since governments tend to have the ability to raise money by issuing debt to cover liabilities. Therefore, the use of this measure is limited to just merely observing upward or downward trends. Furthermore, with the implementation of full accrual based accounting in the public sector it becomes hard to determine the exact total value of the governments assets. These assets include heritage assets where a market value is non- existent or there are competin g estimates. It becomes a challenging task to assign a value on such an asset, or the asset may be of value to the government who owns the asset but not to anyone else. Given the challenges associated with determining an actual value for an asset, care should be taken when using this ratio as a financial performance indicator since its accuracy can be challenged. Financial Assets to Liabilities measures the governments ability to raise cash quickly or its liquidity to cover its liabilities. The Ontario governments ratio ranges from 0.18:1 to 0.23:1, where it reached its peak in year 2004/2005 and in 2006/2007 (measured at 0.21:1). (Please refer to appendix 1.3) Net Debt to Total Annual Revenue measures the governments net debt in relation to its ability to generate revenues. This ratio reached its peak over a five year span at 2.03:1 in 2003/2004 and 1.56:1 in 2006/2007. (Please refer to appendix 1.3) Since 2003/2004, the Ontario government has been able to reduce its net debt in relation to its annual revenue. Net Debt to GDP measures the governments fiscal capacity. They relate bond indebtedness to the sources of government revenue (McKinney, 2004, p.245). Ontarios net debt is hovering around a quarter of its GDP and between 2002 and 2007 where it has been slowly declining from 0.27 in 2002 to 0.24 in 2007. (Please refer to appendix 1.3) Since a consistent downward trend exists in this measure, this means that the government is improving in this ratio. Since both Net debt and GDP has increased from 2002 to 2007, this means that the GDP has increased at a faster rate than the increase in net debt. This means that governments ability to pay its debt obligations has improved over five years. Deficit to GDP measures the governments deficit in relation to its GDP. In this measure, the government has seen improvements from 2003/2004 to 2006/2007. This means that the Ontario government is continuously managing its expenditure and making sure it spending is within its capacity. Even though the Ontario government has seen deficits in the years 2003/2004 and 2004/2005, this ratio is looking favourable since deficits are declining in relation to GDP, which has seen a constant increase over five years. (Please refer to appendix 1.3) Flexibility Public Debt Charges to Revenue measures the governments ability to raise funds to pay its debt servicing charges. In this measure, the Ontario government has seen a constant improvement or a downward trend during the five year term from 14.9% in 2002/2003 to 9.7% in 2006/2007. The reason for this is because Ontarios revenues over the same five years have seen consistent growth and have increased by approximately 31.8% while interest on debt has seen a 13.7% decline over the same period. (Please refer to appendix 1.3) Net Book Value to Cost of Capital Assets measures the true value of the governments capital assets. This value is hovering around two thirds of the cost of capital assets and it has seen a slight downward trend from 69.5% in 2002/2003 down to 67.2% in 2006/2007. (Please refer to appendix 1.3) This figure is a good indication of the governments capital assets such as land, buildings, and transportation infrastructure such as highways, railroads and bridges. However, looking at the Ontario governments public accounts, it does not state whether or not the value of land is recorded at historical cost or fair market value. If the land is recorded as historical cost, then it does not really show the true value of the governments assets; instead it is under estimated if the value of the land increases in market value and vice versa if it decreases in market value. Furthermore, depreciation is measured based on estimates; it could be that the life span of an asset could be higher than expec ted and therefore, while the asset is recorded on financial statements as having no value, the asset could still be utilized. Furthermore, an asset can be estimated to have a lifespan of 10 years; at year 10, even though the asset can still be used, an organization can continue using the asset or request for new funding for the replacement of the asset. Since the asset can still be utilized, the organization can sell the asset and make money out of it (scrap value) and record it under its miscellaneous revenues. This becomes an issue of operational efficiency versus manipulation of assets to maximize revenues. Vulnerability Government Transfers to Total Revenue measures the proportion of the federal governments share of the province of Ontarios total revenue. Federal funding that flowed into the provincial government ranges between 13% (2002/2003), which is its lowest level between 2002 and 2007, and has increased steadily to approximately 15.8% (2005/2006) and dropped slightly to 15.5% in 2006/2007. (Please refer to appendix 1.3) This figure can be interpreted in various ways where the upward trend shows that the federal government is continually increasing its transfer payments to the province of Ontario in relation to its total revenue. Looking at nominal figures, the federal government has increased its transfer every year between 2002 and 2007 (from 8 billion dollars in 2002/2003 to 14 billion dollars in 2006/2007. (Please refer to appendix 1.2) Part of this increase is due to huge surpluses the federal government has been reporting in recent years. However, the increased in federal transfer can b e seen both negatively and positively. This can be viewed positively because the province is able to provide more services to the public. However, funding commitments can be revoked especially with a change in government and government priorities. Furthermore, budgetary models are built upon expectations, if the province expects to receive a certain amount of dollars from the federal government, and this is not realized, then it can potentially adversely affect the financial standing of the province. The provincial government should also use this figure as a sign of caution in terms of its forecasts not to rely heavily on federal transfers. The province should try to provide the same level of programs and services to its citizens without relying heavily on federal transfer payments because of fluctuations and uncertainty. However, others may argue that increasing federal transfers is a positive step towards addressing the so-called fiscal imbalance and providing Ontario a fair share of federal funding that is more proportional to the contributions that Ontarians make to the federal tax base. This demonstrates another useful limitation/caveat: performance ratios/indicators are not purely objective, in that their interpretation and ultimately the manner in which they are used/applied depend on the subjective point of view of the public sector analyst/manager. Net Foreign Currency Debt to Total Debt measures the provinces debt level to foreign countries and or organizations. This figure has seen an increase from 21.4% in 2002/2003 and 23% in 2004/2005 and from that point it declined to approximately 20% by 2006/2007. (Please refer to appendix 1.3) This measure is a good indicator on Ontarios reliance on foreign governments in terms of trade and its indebtedness. A declining net foreign currency debt to total debt means that the province can have a positive effect on the provinces credit rating that assesses the governments vulnerability and stability which can have an impact on interest rates on its debt. An improving credit rating will increase the chances of the Ontario government to refinance its maturing debt because of lower risk of default from its debt. An increase in this ratio might cause international panic where other countries can call the province on its debt that can have adverse effects on the economy in terms of attracting investors and other countries willing to do business with the province. As a useful summary of the provinces dependence on foreign debt, it is important to keep track of this budget measure of vulnerability. Discussion of the Ontario governments Financial Analysis as a Measure of Performance Based on the above discussion the ratios used by the government of Ontario is a useful tool as part of a comprehensive strategy or approach to analyzing, measuring the provinces economic and financial performance. However, these tools alone are clearly not sufficient to obtain a full and clear picture and forecast of the economy. Variables such as domestic and international political conditions, international and domestic commodity prices, supply and demand, price of oil, interest parity, price parity, and other non-financial indicators, such as demographic trends, should be considered when formulating, implementing, and assessing the effectiveness of policies and programs. Furthermore, these budgetary performance measures tend to be applied at a relatively high level (i.e. on rolled-up or summed-up figures or estimates) with a view to gauging whole of government performance. Since the Ontario government comprises of individual ministries and departments, improving whole of government performance must start with the individual ministries and their specific programs and projects. This reinforces the idea that full and effective performance measurement entails consideration of other and more specific factors/elements. The government of Ontarios financial measures provide very useful snapshots of the government position at a particular point in time. However, there are other measures, information and factors that one has to consider in gauging the performance of the government and formulating recommendations and strategies moving forward. Conclusion Increased pressures and complexities confronting the public sector has encouraged the proliferation of private sector practices, including the use of performance measurement to gauge program outcomes and ensure transparency, accountability, and sustainability of government operations. As this paper has demonstrated, there are benefits to performance measurement, such as providing opportunities to track, compile, and maintain data and requiring regular reporting, thereby helping in promoting transparency and benchmarking. However, these financial/material indicators are not sufficient to ensure effective and efficient management of public resources. As this paper has pointed out, there are several limitations and caveats to performance measurement that public sector managers/analysts must bear in mind, including the need to incorporate other information (e.g. non-financial and qualitative data) in developing, implementing, and assessing policies and programs. These points were reinfor ced in this paper through an examination and evaluation of financial ratios intended to measure the performance of Ontarios budget between the period of 2002 and 2007. While this paper presented a case study of performance measurement from a financial perspective, perhaps a more interesting and richer case study would be to explore quantifying qualitative program performance measures in which represents another area of future research. Indeed, performance measurement when used in a public organization by itself is a fools gold (Carroll and Dewar, 2002).

Marketing Essay -- Business, Customer Satisfaction

This essay is a critical literature review of Relationship Marketing in relation to customer satisfaction, customer loyalty and technology. In this review, I will provide a brief orientation of relationship marketing; identify the benefits of relationship marketing for companies and customers and critically analyse the concept of RM with regards to customer satisfaction, customer loyalty and analyse the role of technology in relationship marketing. Leahy (2011:651) defined relationship marketing as â€Å"attracting and keeping customers for a long period of time†. RM is used by firms to change consumer attitudes and increase the frequency of purchase in a business using marketing techniques such as promotions and advertising. According to Ndubisi and Chan (2005), relationship marketing provides an organisation the opportunity to get access to the right information about their customers, meet the customers’ needs effectively, efficiently and gain competitive advantage. In addition, Gronroos (1994:9) suggests that relationship marketing is a new model in marketing and it’s about organisation â€Å"establishing, maintain and enhance relationships with customers at a profit so that objectives of the parties involved are met. This is achieved by mutual exchange and the fulfilment of promises.† Promises may be made by the company to their customers; yet, what remains to be seen are if the promises are fulf illed or ultimately broken. Szmigin et al. (2005) argues that due to the vast presence of relationship marketing in several industries, it can be difficult defining relationship marketing that accommodates all the relationships. Ravald and Gronroos (1996) argue that relationship marketing is not restricted to the firm maintaining a close relat... ...ting is very important for the success of an organisation as reflected in the multiple definitions above. It is beneficial to both the company and their customers and when utilised responsibly, a great symbiosis relationship is established. The analysis of customer satisfaction resulting in increased customer loyalty has been carried out and the contribution of increased customer loyalty resulting in high profitability for the organisation has been highlighted. The role of technology in relationship marketing has been scrutinised leading to the research question stated above i.e. to what extent does technology foster a close relationship between an organisation and its customers. For further research, it would be advisable to explore this area in more depth so organisations can acquire the maximise output when using technology as a means of relationship marketing.

Who is to blame for Macbeths Downfall? :: essays research papers

The play MACBETH is filled with suffering. It begins with reports of a bloody battle, an execution of a traitor and Macbeth’s bloodthirsty heroism as he â€Å"unseamed† one of the invaders â€Å"from the nave of the chaps†. In comparison MacBeth’s later actions are even worse as he commits violent crimes against his own people. Much of the suffering in the play is directly attributable to Macbeth. However, the central focus of the play is the suffering he himself undergoes, as he makes his way through his course of evil. Macbeth caused the suffering of many during his dark quest to become King of Scotland. Many innocents were brutally slaughtered as a result of Macbeth’s actions, Banquo, King Duncan, Lady Macduff and her children. However many others experienced mental torment and anguish at the hand of Macbeth. Macbeth’s ambitious wife, Lady Macbeth felt guilt for her part in the murder of King Duncan and for murdering sleep she was denied the luxury of sleep driving her to insanity. The Macduff’s also suffered greatly. Lady Macduff witnessed the deaths of her children as they were â€Å"Savagely slaughter’d† (4:3:237) Macbeth also caused grief to Macduff as he ordered the slaying of his â€Å"Wife, Children, servants, all† (4:3:245) Macbeth was the cause of much suffering in the play and in turn suffered greatly throughout. Macbeth suffers much indecision from the moment he hears the witches prophesies. He gets confused and is torn between killing or not killing King Duncan. He immediately thinks of killing the king, as he wants so badly to be king, but the idea of committing such a crime appals him. â€Å"Why do I yield to that suggestion†(1:3:144), he says in a state of confusion. Macbeth is Duncan’s â€Å"kinsman†, â€Å"his subject† and â€Å"his host†. As his host he should be protecting him, not killing him. Macbeth believes in â€Å"even-handed justice† and that if he commits evil, evil will be put upon him. He ultimately decides not to kill the King but Lady Macbeth convinces him otherwise, â€Å"What beast was’t then That made you break this enterprise to me?† she asks.   Ã‚  Ã‚  Ã‚  Ã‚  Lady Macbeth does later fell guilt over her part in Duncan’s murder but Macbeth’s guilt is immediate.. Macbeth murders his great king and only moments later feels horrible guilt, â€Å"Will all great Neptune’s ocean wash this blood Clean from my hand?†(2:2:77) Blood on hands is a symbol of guilt that Macbeth sees often in this play â€Å"with thy bloody and invisible hand† (3:2:53) He feels guilt like he has never experienced before â€Å"gouts of blood, which was not so before†(2:1:53) he says.

Sugar Sweet :: Papers

Sugar Sweet The sugar pulsed through her blood. She took another bite. The smooth, sweet chocolate fused into her body removing the pain. She could feel their stares. Burning through her as she ate. She seized the remainder of the chocolate and walked out. It was intolerable. Every time she ate she could feel those around her wishing to throw up. She could feel their whispers of disgust. As she was leaving the food court she felt a tap on her shoulder. She spun around, preparing herself for another snide remark about her size. "What?" she snapped. "You forgot this" the girl replied, her tight jeans accentuating her flawless figure. The girl handed the leaflet to her. "Looks like you might need it" With a snort of laughter she left and returned to her friends. She ran through the rest of the shopping centre. Past the countless shops, pictures of stick figure models stuck to their windows. Sitting under the stairs on the station she extracted the remnants of a family block of chocolate from her bag. She flicked through the leaflet "Lose weight now". She had never seen it before. She began sobbing. The train pulled out of the station. She remained sitting hidden under the steps. Consumed by distress the tall figure that slid up next to her went unnoticed. He lit a cigarette causing her to jump. "What's the problem, babe?" he said offering her a cigarette. "No thanks I don't smoke" she muttered, wiping away the tears. Suddenly conscious of her size she folder her arms across her stomach. "Hey I've seen you before" she sniffed, "You're Dads apprentice" "Yeah, that's me. Look, do you want a lift somewhere?" Face flushed, crying, she unlocked the front door and ran upstairs to her bedroom. She shouldn't have done it. His sweet charm had left her trapped in a car while he tried to come closer. "Give it ago, come on I promise it won't hurt". He had thrust two pills into her mouth.

Communication and Hr

4DEP (HR) Developing Yourself as an Effective Human Resources Practitioner By Susanne Collier 7th November 2011 Activity 1 Today Human Resources (HR) is at the centre of business performance. HR professionals have an important role to play in driving decisions that enable their organisations to thrive in both the short and the longer term. Where in the past the function delivered the fundamentals that underpinned the employee lifecycle (such as recruitment, induction and salary administration) supporting organisation performance is now the theme running through HR’s work. The CIPD have introduced the HR Profession Map which sets out what HR practitioners need to know, do and deliver at all stages in their career. The Map is structured around ten professional areas of HR activity and it focuses on the knowledge, activities and behaviours required in the profession today. The first two professional areas, Strategy, insights and solutions (uses deep understanding of the business – activities, strategies and plans and underlying drivers of and barriers to sustainable performance, and needs of customers and employees – and unique insights to drive business performance through the creation and delivery of HR strategy and solutions) and Leading and managing the HR function (leads and manages a fit for purpose HR function, with a strong track record of operational excellence and a deep understanding of the organisation requirements. Ensures that the function has the right capability, capacity, and organisation design, and that HR employees are fully engaged, work collaboratively and possess a deep understanding of organisation and the drivers that create value). These are central to understanding the organisation and delivering an HR function that delivers success. There are eight behaviours shown on the HR Map that identify in detail how professionals need to carry out their activities and make a contribution to organisational success. Please see Appendix 1 for description of the eight behaviours. The behaviours have been clustered into the following groups: Each professional area and behaviour is described at four bands of professional competence, the bands range from those entering the profession at band one, to those that are leading it, at band four. I currently work as an Office Manager for Miller Heiman Inc at their EMEA headquarters in Milton Keynes. As part of my remit I have to ensure that the delivery of Human Resources (HR) service and information to leaders, managers and staff within the organisation is accurate, efficient, timely and cost-effective and that HR data is managed professionally as I am the first point of contact for all HR-related queries. I have therefore chosen to look at the Service Delivery and Information professional area at Band One, as I believe this is most relevant to my current role. There are eight activities, eleven skills and three behaviours that apply to band one within this professional area, please see Appendix 2. Within my role the behaviours detailed with the respective activity and knowledge are Collaborative, Driven to Deliver, Personally Credible, Curious, Role Model and Courage to Challenge. Collaborative Build appropriate professional, friendly and accessible relationships with employees, line managers, directors and network of suppliers. Driven to Deliver * Assist in the recruitment process – i. e. liaise with recruitment agencies, set up interviews and issue relevant correspondence. * Administer HR-related documentation, such as offer letters, contracts of employment, leavers' and pensions information. * Provide relevant documentation as requested for example employee handbooks, latest policy updates, sickness forms. * Provide data for and prepare management nformation reports, mainly around absence management. * Ensure the relevant HR databases are up to date, accurate and comply with relevant legislation. * Administer Childcare Voucher Scheme, liaising with employees and external providers. Personally Credible * Provide support and advice to employees and line managers, explaining policies and procedures in a timely and effective manner, including maternity, paternity, adoption, parental leave and health ; safety processes and queries regarding benefit and pay issues. * Assist in the development of HR procedures and policies. Take responsibility for own work. * Communicate well both in writing and verbally. * Use own initiative. * Have the ability to work accurately with attention to detail. Curious * Take part in teams meetings, events and training as required. * Have the flexibility and willingness to learn. * Constantly review suppliers for a cost/quality/se rvice comparison. * Good understanding of HR policies and procedures, health ; safety and basic understanding of employment legislation. * Attend Employment Law updates on a regular basis to keep abreast of changes in legislation. Role Model * Be resilient and able to work in an organisation that is undergoing change due to development and growth. * Use tact and diplomacy, being sensitive and respectful to others. * Contribute to the development and implementation of the overall ethos/work/aims of Miller Heiman. * Appreciate and understand the need of confidentiality in dealing with all HR and training issues. * Work in accordance with current policies and procedures. * Appreciate that projects need to be completed, methodical approach with an ability to work under pressure. Courage to Challenge Feedback and look at any changes that are needed in our current practices and implement. * Constantly review personal development plan in line with organisational objectives. Activity 2 HR Customers The HR department has many internal and external customers to serve, including employees, their managers, directors and legal and regulatory agencies. The needs of which may sometimes be in conflict. Below are the main cust omers I have to deal within my role on a daily basis and an example of a few of their needs: Directors| Line Managers| Staff/Peers| Latest Legislations UpdatesManagement Reporting| Appraisal DocumentationPolicy DocumentationHealth ; Safety issues| Payroll QueriesBenefit Entitlement QueriesSickness Forms| A need conflict may arise if for example a director has requested an absence report analysis for a disciplinary meeting be produced for the following day but unexpectedly a line manager has advised you of a potentially serious health and safety issue. Both needs are important to the person requesting them, and I would therefore look at the needs individually to assess their priority and risk to the business if they were not dealt with as a matter of urgency. The absence report could be to assist the director with looking into an individuals time keeping as part of a disciplinary, which is important as this could affect the way forward with the hearing, but the health and safety issue could be a greater risk to the business and/or individual at that precise moment in time so a risk assessment would need to be carried out immediately and then a decision could be made whether action was needed immediately and would therefore then take priority over the absence report. Communication Methods Communication Method| Advantages| Disadvantages| Electronic (Email)| * Quick * Log receipt * Complete * Can send large documentation * Cost advantages| * Eliminate Equal Opportunities due to lack of access * No tone * No relationship * Could be misconstrued | Written (Printed Material)| * Meets legal requirements * Clear audit trail * Provides reference * More in depth detail| * Lack of face to face contact * Unsecure * Slow * Expensive| Verbal(Telephone/Face to Face)| * Checking of understanding * Personal * Immediate| * Trepidation * Language * Lengthy * Lack of control * Cost of calls| Effective communication as explained by Albert Mehrabian in his communication model found that spoken words account for only 7% of what a listener perceives, the remaining 93% of what a listener comprehends originates from the speaker’s body language and tone employed in the delivery of the words. Building and Maintaining Effective Service Building Relationships – It is important to develop a positive attitude, be less judgmental and more accepting of others. Gather Improve Your Communication Skills,  listen carefully and focus on the speaker's message. This will allow you to respond appropriately and avoid misunderstandings. Resolve conflicts early. Treat ALL colleagues with respect and always be courteous and professional. Be open and honest about your feelings and allow others to do the same. Understand and accept personal or cultural differences. Dealing with Difficult Customers and Resolving their Complaints – Listen to the customer and thank them for bringing the problem to your attention. Sincerely convey to the customer your apology for the way the situation has made them feel, but avoiding blame and determine what the customer is seeking as a solution. Once this is established seek to agree on the solution and take quick action to resolve and follow up to ensure the customer is completely satisfied. Meeting time and Budget Constraints – Set goal and deadline expectations at the outset. Prioritise workload and delegate if there is an opportunity too if time is restricted. Research and compare costings to ensure the best value is gained without compromising quality. Must ensure the regular updates are provided. Continuous Improvement – To ensure high levels of customer satisfaction, it is important for HR to continually measure and monitor the needs of its various customers, determine how well it is meeting those needs and identify any areas that represent gaps, this could be done in the form of an annual employee survey, issuing feedback forms for completion or requesting short feedback via email as well as looking at your PDP plan at your annual review and at regular intervals throughout the year. BIBLIOGRAPHY CIPD HR Profession Map http://www. cipd. co. uk/cipd-hr-profession/hr-profession-map/explore-map. aspx (28 Oct 2011) Albert Mehrabian Communication Model http://www. vestedoutsourcing. com/the-psychology-of-outsourcing-part-4-albert-mehrabian-and-comminication/ (31 October 2011) APPENDIX Appendix 18 Behaviours Description Appendix 2Service & Delivery and Information Professional Area Description

Ontela Pickdeck A Essay

I would focus in priority on the teenagers, then on the young professionals and ultimately on the parents and the elderly. As a matter of fact, teenagers are the part of the population both most sensitive to fad phenomena and best at using new technologies. 1) Regina, the Teen First segment to target The teenagers’ generation is and has always been very sensitive to fashion. Moreover, immerged in the Internet Age since their childhood, they will always be looking for the state-of-the-art device or application (and will always have the time to do it). Thus they will be curious about the Ontela PickDeck for its revolutionary aspect and its ability to link all their devices rapidly. If their friends install the application they will surely do so. On the other hand, they are very good at using new technologies so they will not have the apprehension of dealing with that one. More importantly, they will be the PickDeck best ambassadors to their parents (segment most difficult to target) afterwards, and able to install it for them. The segment’s main default is that they do not own their own money. 2) Steve, the Young Professional Second segment to target The young professionals’ generation did not grow with the Internet Age so they master it a bit less. They are less curious and have less time so they would use it only if they can see a competitive advantage for their work but they generally work in the old-fashioned way. They will focus on the following qualities of the application: the rapid-sharing, the ease of use and the fact they can use it from everywhere. They would follow the movement if the application was spreading among their colleagues. The main default of this segment is their lack of time both to study advertisement and to learn how to use the application (relatively high apprehension to use it). 3) Sarah, the Parent Last segment to target The parents’ generation does not understand anything about new technologies. They generally cannot even use a third of their devices’ options. However, once installed on their smartphones they will certainly enjoy it. A non-exhaustive defaults’ list of the segment may contain: The high apprehension to use such an application The lack of time to consider buying it The low sensitivity to fads The inability to install it themselves That is why PickDeck needs children as ambassadors 2) Create positioning statements for you two first chosen target personas 1) Regina, the Teen Key themes: A state-of-the-art technology A permanent connection everywhere, at any time A connection with all your friends via social networks Ambassadors to the family â€Å"My new product PickDeck is the state-of-the-art way to have the pictures you take directly available on all your devices and social networks. Everywhere, anytime, the wireless technology will allow you to keep sharing your best moments with your friends and family.† 2) Steve, the Young Professional Key themes: A permanent connection everywhere, at any time A fast and efficient application An easy-learning application Time â€Å"My new product PickDeck is the easiest way to upload the pictures you take automatically on your devices, it is definitely time-efficient. Everywhere, anytime, the wireless technology will allow you to keep improving your efficiency and sharing with your customers and friends.†

The Human Resources Scorecard: Linking People

Providing the tools and systems required for leading a measurement managed HR architecture, this important book heralds the emergence of human resources as a strategic powerhouse in todays organizations. Three experts in the field outline a powerful measurement system that highlights the indisputable role HR can play as both a prime source of sustainable competitive advantage and a key driver of value creation. They draw from an ongoing study of nearly 3,000 firms to outline a seven-step process they call an HR Scorecard, specifically designed to embed human resources systems within a firms overall strategy and manage the HR architecture as a strategic asset. Building on the proven Balanced Scorecard model, they also show how to link HRs results to measuressuch as profitability and shareholder value-that line managers and senior executives will understand and respect. The authors argue that human esourcess strategic role begins with designing an HR architecture-the HR function, the HR system, and strategic employee behaviors-that relentlessly emphasizes and reinforces the implementation of the firms strategy. Using compelling examples from a variety of leading companies, they explain how to develop and implement an HR Scorecard in order to both manage the HR architecture as a strategic asset, as well as measure the contribution of that asset to firm performance. Personal Review: The HR Scorecard: Linking People, Strategy, and Performance by Dave Ulrich I recently re-read this book and have even higher regard for it now than I did I when I first read it soon after it was published in 2001. Becker and Huselid later co-authored The Workforce Scorecard with Richard W. Beatty. With rigor and eloquence, they examine three separate but related challenges: Perspective (with an emphasis on differentiation), Metrics (and their relationship to strategy execution), and Execution (which holds senior executives and line managers accountable for workforce success). They suggest that all organizations which successfully meet these three challenges (i. e. those which â€Å"do it right†) have these six characteristics in common: 1. HR professionals spend less time on employee performance than they did five years ago 2. The relationship between workforce success and strategy implementation defines the ROI of new HR initiatives. 3. Creating a shared mind-set is not taken for granted. . The HR function has a staffing structure that effectively balances the tension between being a strategic partner and delivering efficient and effective HR services. 5. Strategic workforce measures are â€Å"owned† and coordinated by a single individual or task force. 6. Senior executives, line managers, and HR professionals consider the results of the measurement system worth the implementation effort. Although it may seem to some who read this brief commentary that will be of substantial value only to large organizations, I hasten to reassure them that, after appropriate modifications, what Huselid, Becker, and Beatty recommend in The Workforce Scorecard can help any organization (regardless of size or nature) to improve the quality of their strategy execution by developing the right perspective on the contributions of its workforce to its success, and, by developing the right execution strategy to ensure that its managers are ready, willing, and able to use workforce metrics to drive business success. It is important to keep these points in mind when reading The HR Scorecard and I strongly recommend that, if possible, The Workforce Scorecard be read in combination with it, preferably but not necessarily afterward. Robert Kaplan and David Norton wrote three articles for Harvard Business Review (â€Å"The Balanced Scorecard,† â€Å"Putting the Scorecard to Work,† and â€Å"Using the Balanced Scorecard as a Strategic Management System†) which led to a series of books in which their insights were developed in even greater depth. According to Norton who wrote the introduction to The HR Scorecard, in the New Economy, human capital is the foundation of value creation and that up to 85% of an organization's value is based on intangible assets. â€Å"This presents an interesting dilemma: The asset which is most important is the least understood, least prone to measurement, and, hence least susceptible to management. † He goes on to commend the co-authors of The HR Scorecard for three specific contributions: their development of causal models which illustrate the relationship of HR value drivers with business outcomes and hereby take the Balanced Scorecard to the next level of sophistication; their research on the drivers of highperformance organizations to provide a framework to decision-makers with which to formulate and implement strategies for human capital growth; and finally, their insights into the competencies required by HR professionals, competencies which can enabler an organization to deliver on the promise of its measurement system. In essence, the co-authors of The HR Scorecard identify and explain linkages – indeed the interdependence — between and among people, strategy, and performance. Only by understanding these linkages and their independence can decision-makers in any organization (regardless of size or nature) accurately measure the nature, value, and impact of human capital on the bottom line. Moreover, decision-makers can then make much more accurate measurement of each individual in terms of the value she or he adds to the organization and, more importantly, to those on whom that organization depends for revenue. Customers who purchase products, of course, and clients who purchase services but also members who purchase members and benefactors to contribute donations. Here are two other substantial benefits of establishing and then maintaining a HR scorecard: 1. It can guide and inform hiring decisions which ensure that an organization increases its human capital with those to add new value 2. It can also guide and inform decisions concerning the allocation of tangible resources, especially when there are unexpected major developments (either threatening or promising) in the given organization's competitive marketplace. When concluding their brilliant volume, the authors observe that while much of the work of an HR scorecard is technical, the delivery of the Scorecard is personal. It requires that HR professionals design to make a difference, align their work to business strategy, apply the science of research to the art of HR, and commit to learning from constant experimentation. When you create the HR Scorecard, using the approach we describe, you are actually [begin italics] linking HR to firm performance [end italics]. But you will also develop a new perspective on your HR function, practices, and professional development. In measurement terms, the benefits will far outweigh the costs. I presume to add two concluding suggestions of my own. First, that HR professionals use the Scorecard initially to measure their own performance so they can determine how, as individual executives, they can add greater value to their organization. Next, that all others in senior management also read this book as well as The Workplace Scorecard to increase their own understanding of (a) how and why to link people, strategy, and performance enterprise-wide and (b) how to manage human capital much more effectively (also enterprise-wide) when executing strategy.

A Practice in Skepticism

Johnston makes very valid points in his article. The main thrust of what he’s saying is that even though there is so much hype about the crisis that is supposedly hitting our economy, journalists and everyone else for that matter have to take a step back and take a look at the bigger picture.We shouldn’t react immediately to all the warnings and doomsday announcements. Don’t buy into the hype is what Johnston is saying. Take a look at what is really happening, assess for yourself, think critically about how certain changes impact the market and how these really play out. It’s not as simple as it all seems.Johnston’s arguments were very solid. He gave explicit examples from his own personal experiences with bank loans in order to get his argument across.He didn’t claim to be an expert and didn’t even try to convince his reader through hard facts. He simply stated the bank loan offers he received as well as the information he got from so urces regarding banks. The entire article came across as a persuasion to the reader to go out and see for himself/herself the validity of what he was saying.ly panic and fret about the country’s economy. Rash decisions and even rasher investment in actions by groups that pretend to be the solution to the crisis are unwise. These principles apply not just to the present economic crisis but to all situations that one may come across.It’s not enough to simply know the facts and to accept the facts presented by others. A practice in skepticism is truly needed especially in journalism. When one is charged with the responsibility of disseminating valuable information to the public, discerning the real facts is crucial. One has to be skeptical until the facts have been logically pieced together.