Gender Roles in Alice Munros Boys and Girls - 1081 Words

In Alice Munro’s short story â€Å"Boys and Girls,† our narrator is a young farm girl on the verge of puberty who is learning what it means to be a â€Å"girl.† The story shows the differing gender roles of boys and girls – specifically that women are the weaker, more emotional sex – by showing how the adults of the story expect the children to grow into their respective roles as a girl and a boy, and how the children grow up and ultimately begin to fulfill these roles, making the transition from being â€Å"children† to being â€Å"young adults.† The adults in the story expect the children to grow into the gender role that their sex has assigned to them. This is seen in several places throughout the story, such as when the narrator hears her mother†¦show more content†¦Neither child has an interest in the work of their parent of the same gender; Laird runs off to play instead of helping with the foxes, and the narrator escapes from the kitchen the first chance she gets (Munro 495). Later in the story, however, Laird begins to take an interest in the men’s work of hunting and killing the horse, and the narrator, while not yet embracing the work of her mother, is disengaging herself from her father’s work and turning toward the more feminine work of decorating her room. Neither of them sing songs anymore, even though the narrator continued to enjoy it, Laird said it â€Å"sounded silly,† so she stopped (Munro 501); this is an example of both Laird becoming more masculine, because he no longer want s to take part in frivolous things such as singing â€Å"Jingle Bells† at night, and the narrator becoming more feminine, because she so easily bows to her brother’s opinion. Laird has started to accept the role of â€Å"leader† instead of just being â€Å"young and obedient,† (Munro 499) and the narrator is taking other people’s opinions into consideration when deciding her actions, instead of just doing whatever she wants to do. From the beginning to the end of the story, the narrator undergoes a transformation from a child of the farm to a young woman. From my perspective, she does not start out as particularly masculine; she is more of a blank slate that is trying to rebel against what she views asShow MoreRelatedEssay Gender Roles in Alice Munro’s Boys and Girls1484 Words   |  6 PagesWhether it is the past or the present, there have always been gender roles in society. In most homes, it is the woman’s responsibility to take care of the house. This includes cleaning, meal preparations, raising and taking care of the children as well as the husband. Compared to the men who take care of the more physical activities, such as yard work. It was known throughout many years that it was a woman’s responsibility to stay in the house while the man would go out and look for work to provideRead MoreGender Roles in Alice Munro’s Boys and Girls and Bobbie Ann Mason’s Shiloh1068 W ords   |  5 PagesA man playing housewife was absurd, and a woman being the sole provider for the family bizarre. In Alice Munro’s short story â€Å"Boys and Girls† and Bobbie Ann Mason’s â€Å"Shiloh†, conflict arises when expectations based on gender are not fulfilled by the characters. According to â€Å"Boys and Girls†, there are certain things women should not be doing as defined by their genders. The narrator, a young girl, feels more inclined to spend her time outside alongside her father, â€Å"I worked willingly under hisRead MoreGirls And Girls By Alice Munro Essay1597 Words   |  7 PagesAs discussed by R. W. Connell, â€Å"When sex role theory provided the main framework, there was a fairly straightforward account of how people acquired gender. Babies were, from the start, identified as either female or male and put in pink and blue baby clothes respectively. Blue babies were expected to behave differently from pink babies -- rougher and tougher, more demanding and vigorous. In time they were given toy guns, footballs, and construction sets. The pink babies, by contrast, were expectedRead MoreGender Roles : Alice Munro s Boys And Girls 1051 Words   |  5 PagesGender Roles In Alice Munro’s â€Å"Boys and Girls†, the story is focused on a working class family who lives on a farm. A man’s role on the farm or in general is to work for the family and do the heavy work that a woman wouldn’t be able to do. The daughter in the story is very much inspired by the father and wishes to pursue in the activities that are being performed around the farm. The mother needs help around the house and that was the role many females took over for many centuries and generationsRead More Gender Role Reevaluation in Boys and Girls by Alice Munro Essay775 Words   |  4 PagesGender Role Reevaluation in Boys and Girls      Ã‚   Recent history boldly notes the protests and political unrest surrounding the Vietnam Conflict during the 1960s and 70s. However, equally important in this era are the women who pushed for gender role reevaluation and publicly rebelled against the established social norm of a womans place. Although Alice Munro may not have been burning her bra on the courthouse steps, threads of a feminist influence can be found in Boys and Girls.Read MoreAnalysis Of Alice Munro s Boys And Girls 1311 Words   |  6 Pagese roles and expectations of different characters in Alice Munro’s â€Å"Boys and Girls†: While gender roles have been very important in society, the expectations of men and women are very different than each other, based off society’s views. Men are the superior of the household that hold the more physical tasks of hunting, building, and striving for survival. While women play the nurturing type of person toward their family, whom cradle their children, prepare the food, and clean within their livingRead MoreThe Feminist Movement By Kate Chopin And Boys And Girls By Alice Munro1231 Words   |  5 Pageseconomic rights equal to that of men. Two short stories, â€Å"The Story of an Hour† by Kate Chopin and â€Å"Boys and Girls† by Alice Munro, relate experiences from female perspectives, highlighting oppression against women. The authors use different techniques to show the protagonists’ similar struggle for liberation in their male-dominated environments. While Alice Munro uses the voice of a young girl to establish the limitations women fac e throughout their entire life, Kate Chopin uses the â€Å"heart disease†Read MoreWomen As A Bias View Of Women923 Words   |  4 PagesInitially, a point that can be studied in Munro’s writing is her ability to write female protagonists that are strong-willed and independently fierce. Nowadays writers try to create female characters based on stock ideas. The woman has to save herself and others from some imminent danger while clearly stating that she can do it all on her own. Admittedly, these views can serve to empower women and give them tools to be stronger and better suited to handle life’s complications. There has been a resurgenceRead MoreTheme Of Boys And Girls728 Words   |  3 Pagesis one of the values taken the most for granted. Not too long ago, rules and roles were imposed on people without any related basis, such as their gender or the color of their skin. What more is that these roles were enforced by society, using peer pressure as a tool to s traighten those who fell out of line. Alice Munro’s short story â€Å"Boys and Girls† expands on this injustice by following the story of a young teenage girl slowly realizing what her place in the world is. The short story has been madeRead MoreSocial Pressures in Willa Cathers Pauls Case and Alice Munros Boys and Girls1034 Words   |  5 Pagesâ€Å"Paul’s Case† and Alice Munro’s â€Å"Boys and Girls†, the protagonists challenge expectations and rebel against settings governed by uniformity and gender-specific roles. Paul rejects conformity and the uniformity of Cordelia Street, while the girl resists the gender roles placed upon her by her mother. Despite being placed in two very similar situations, both characters come to learn two exceptionally different lessons concerning social pressures and expectations in society. The girl concludes that society’s

Teen Drug Addiction a Chronic Ilness Free Essays

Drug addiction is a chronic disease, associated with mental illnesses, and similar to other chronic diseases such as type II diabetes, cancer and cardiovascular disease. No one chooses to be a drug addict or to develop heart disease. In my paper, I am going to research some issues of teenage substance abuse and examine some of the biological factors that cause drug abuse and addiction. We will write a custom essay sample on Teen Drug Addiction: a Chronic Ilness or any similar topic only for you Order Now I will also explain how the brain reacts to drugs. In addition, I will also provide statistics on the number of teens afflicted with drug abuse their race and gender. Furthermore, I will be discussing how drug addiction affects the individual and their families, along with social, biological, psychological and vocational affects of the disease, and available community support and interventions. Good What is drug addiction? Addiction is a chronic, often relapsing brain disease that causes compulsive drug seeking and use despite harmful consequences to the individual that is addicted and to those around them. Drug addiction is a brain disease because the abuse of drugs leads to changes in the structure and function of the brain. Although, it is true for most people the initial decision to take drugs is voluntary, overtime the changes in the brain caused by repeated drug abuse can affect a person’s self-control and ability to make sound decisions, and at the same time send intense impulses to take drugs. Source? From a medical perspective, substance abuse is a syndrome or maladaptive pattern of substance use. That result in a clinically significant impairment during a 12-month period, resulting on one or more of the following: recurring substance use causes a significant decrease in the ability to perform well and/or failure to fulfill obligations at work school or home despite negative social or interpersonal consequences (McLennan, A. , 2010). The Diagnostic and Statistical Manual of Mental Disorders (DSM) issued by the American Psychiatric Association, defines â€Å"substance dependence† as; â€Å"when an individual persist in use of alcohol or other drugs despite problems related to use of the substance, substance dependence may then be diagnosed. (DSM) defines â€Å"substance abuse† as; a maladaptive pattern of substance use leading to clinically significant impairment or distress, as manifested by one (or more) of the following. These must re-occur within a 12-month period. Recurring substance use resulting in a failure to fulfill major role obligations at work, school, or home (e. g. , repeated absences or poor work performance related to substance use; substance related absences, suspensions or expulsions from school; neglect of children or household). Substance use disorders often affect a combination of psychological, biological, and environmental and social issues. Many of the substances are included in the disorders, including alcohol, marijuana, cocaine, opiates, sedatives, hallucinogens, and halides, or PCP. Substance use usually results in the complex disorder, which is addiction (Danielson, C. , et. , al. 2010). Experts have identified four stages in the addiction process: Stage one, is the exploratory stage, stage two, is the recreational stage, stage three, is the abusive stage, and stage four, is the dependent stage that eventually develops into an addiction. Once the person is addicted to a substance, they often begin to abuse them. Drug addiction most often results in a loss of choice. The desire to use the drug may have its roots in and need to ease the situation or unpleasant circumstance. This is dangerous because it is only one-step further away from using the drug for recreation and one-step closer to an addiction. Drug abuse is associated with the compulsivity that in turn leads to dependency and addiction. This is normally true; however, there are cases of individuals who abuse drugs without becoming dependent to them. Everyone’s brain reacts differently to drugs. Source? Brain Reaction When drugs enter the brain, they can interrupt the work and actually change how the brain performs its jobs. These changes are what lead to compulsive drug use, the hallmark of addiction ( NIDA, 2010). Drugs are chemicals. They work in the brain by tapping into its communication system and interfering with the way nerve cells normally send, receive, and process information. Different drugs—because of their chemical structures—work differently. In fact, some drugs can change the brain in ways that last long after the person has stopped taking drugs, maybe even permanently. This is more likely when drugs are taken repeatedly. All drugs of abuse—nicotine, cocaine, marijuana, and others—affect the brain’s â€Å"reward† circuit, which is part of the limbic system. Normally, the reward circuit responds to pleasurable experiences by releasing the neurotransmitter dopamine, which creates feelings of pleasure, and tells the brain that this is something important—pay attention and remember it. Drugs hijack this system, causing unusually large amounts of dopamine to flood the system. Sometimes, this lasts for a long time compared to what happens when a natural reward stimulates dopamine. This flood of dopamine is what causes the â€Å"high† or euphoria associated with drug abuse. These brain changes drive a person to seek out and use drugs compulsively, despite negative consequences such as stealing, losing friends, family problems, or other physical or mental problems brought on by drug abuse—this is addiction (NIDA, 2010). How does drug addiction affect the individual? Many teenagers face the problem of addiction. Some addictions are drugs, alcohol abuse and recurrent substance abuse, even when it is physically hazardous such as driving a car. Teens that are addicted feel a loss of control and are overwhelmed with the urge to search for and continue the use of drugs and alcohol despite negative consequences. Trying to understand this self-destructive behavior is difficult repeated drug use causes long-lasting changes to the function to the brain and the way it looks. It alters the brain interfering with the ability to think clearly, make good judgment, control behavior and to feel normal without the drug. There is a widespread notion that adolescents self medicate depression with drugs and alcohol, society appears to overlook the possibility that the substance use may precede or predict depression (NIDA, 2010). Psychological Affects  A chronic illness could be caused by substance abuse or the opposite may be true, chronic illness could even cause substance abuse. Either way, diagnosis of two illnesses makes treatment of both conditions complex. Individuals with a disease or chronic illness have easier access to prescription medication, making excessive use more likely and abusive. Depression, boredom, and frustration are psychological factors that can lead to a want to escape from reality. The need for acceptance as a result from alienation and oppression also contribute to the use to gain social acceptance (Falvo, 2005). Physical, Social, and Biological Affects Chronic illness and disease have a cause and effect relationship with drug use. Some physical effects of alcohol dependence and use are important to examine. Initially, alcohol acts as a stimulant, the level of intoxication increases however, it acts as a depressant, causing physical coordination problems, ataxia and decreased ability to perform. Judgment may also be impaired. While increased levels of alcohol use can cause confusion, mild stupor, amnesia, and coma and could eventually lead to death. Many negative, complex health issues are common from alcohol abuse. Some examples include blood abnormalities causing the presence of large abnormal red blood cells, a decrease in the number of bold white blood cells and platelets. Throat and esophagus cancer and liver disease are also common among many other medical diagnoses. Problems of the heart, liver and pancreas may develop, also muscle fiber destruction and weakness, mal-absorption of nutrients and vision problems are common due to the continued use of alcohol and drugs Research An interesting finding from a new study published in the, American Journal of Preventive Medicine suggests that adolescents, particularly girls, who engage in sex behavior and drug use are at risk for future depression. The previous notion was that adolescents self medicate depression with sex and drugs not the other way around. Among boys, their findings suggest that binge drinking and marijuana use increased the likelihood of depression in boys more than four-fold. From the information that is available regarding depression and substance use and abuse, it is evident that depression may contribute to substance use and abuse. Although, it is more likely that depression is the result of substance use and abuse (C. Danielson, et. al. , 2003). Good Second research project? Statistics To understand the startling impact addiction has on teens, statistics are needing to be examined. In the United States; â€Å"On average, in 2006, about 1. 2 million adolescents, each 12 to 17 years of age smoked cigarettes, 631,000- drank alcohol, and 586,000 -used marijuana. In addition, about 49,000 adolescents used inhalants, 27,000- used hallucinogens, 13,000-used cocaine, and 38,000- used heroine. To continue with these phenomenal statistics, this was an average â€Å"day† in the United States. Nearly 8,000 adolescents drank alcohol for the first time; 4,300 -used illicit drugs for the first time; 4000- smoked their first cigarette, 3600- smoked marijuana for the first time, and another 2000 used pain relievers for non-medical reasons for the first time (Sussman ,S. 2010)†. Treatments, Interventions and Community Support Alcohol and substance addiction initially requires detoxification and then a lifelong treatment plan that includes individual therapy, family and group counseling, and self-help groups such as Alcoholics Anonymous. There is Ala Non and Ala Teen for families. Families that live with an addict need moral and emotional support. The individual and the families know that abstinence from alcohol and other substances is the goal of treatment These are the many reasons why interventions and community support for teens are vital, for their well-being, and survival, getting the needed help for teens now, before they enter adulthood. An article, â€Å"Drugs and Teen Substance Abuse,† cited the most recent data about substance abuse facilities. The data collected about outpatient treatment and inpatient residential treatment facilities. There are more than 76,000 youth in outpatient treatment facilities, 10,000 in hospital residential treatment, and 1000 in hospital inpatient treatment. Experimentation with drugs among teens is common. Teams have the tendency to feel indestructible and immune to the possible problems that their actions can cause themselves and others. They are especially unaware of the link between their actions today and the consequences tomorrow. Using tobacco and alcohol at a young age increase the risk of using drugs later in life. Some teens seem to be able to experiment, use occasionally, stop and start again without becoming dependent on, or develop a need to use continually. Others will develop a tendency and addiction, often moving onto more serious drugs, causing harm to themselves and others (APA, 2010 ). Most people go into drug treatment either because the court ordered them to do so, or because loved ones urged them to seek treatment. The good news is that, according to scientific studies, people who enter drug treatment programs in which they face â€Å"high† pressure† to deal with their addiction can benefit from treatment, regardless of the reason they sought treatment in the first place (NIDA, 2008)†. My newly learned knowledge of researching this topic has helped me better understand the disease process of drug addiction. I took a personal note to the subject; I chose this topic to help me personally deal with my son and his abuse of marijuana. I do believe drug addiction is a chronic disease similar to other chronic diseases such as type II diabetes, cancer and cardiovascular disease. No one chooses to be a drug addict or to develop heart disease. How to cite Teen Drug Addiction: a Chronic Ilness, Essay examples

Financial Resource

Question: HowFinancial Resource can be managed? Explain. Answer: Introduction The following assignment evaluates the financial resources of Care Tech solutions. The brand has been the leading provider of information technology (IT) products as well as web-based solutions for the health care institutes. The study emphasizes on managing the diverse sources of sales revenue of the organization. Besides this, it states the measures to prevent fraud in the organization and improve the financial processes of the organization. Principles of costing and business model. Cost is always correlated with it source It is observed that the evidence of relationship is in a straight line related to its source. The anthology and examination of the data obtained from cost are generally in agreement with the nature of allotment, which is based on the cause and effect associations. Charging of abnormal costing: The cost, which is incurred to cater the loss either by fire or due to theft as the damage, has nothing to do with the cost of manufacture. This will lead to discrepancies in cost data thus which is deceptive to the administration team regarding the abnormal cost controls. Cost is charged subsequent to it is incurred: The contemplation of the cost, which is incurred, is considered as the cost hub. For example, incidences happen when the usual loss is beard by the unit where such loss has been occurred. The burden of such costs cannot be on the unit that are until now to pass thorough manufacturing process. Past cost is not considered while considering the future cost: The recommended financial procedures are that the cost incurred by the care tech during a particular period is tackled during the same particular period. It the cost is related to the particular accounting period then postponing the cost in the future would be monetarily wrong. If historical cost has potential future contemplation then gathering up the cost will be difficult, as the weight of past cost will be subjective greatly on the management. Information required to deal with financial resources The information necessary in the administration of monetary resources originates from the organisation for meetings its needs. It is important to denote that organisational requirements differ from functioning actions, requirement from labour, managerial activities and financial activities. Such organisational activity determines the distribution of monetary resources for their accomplishments (Brealey et al 2012). Such kinds of data is obtained through the help of operational figures arising from the inventories maintained by the organisation for its financial statements, operational activities and other cost related activities revolving in the organisation. Hence, organisation gets such information and preserves them for the need of human capital and debts. Regulatory requirements Whichever kind of business concern should be relevant to the fundamental authoritarian requirement to guarantee the achievement of the organisation. Such requirement facilitates the organisation to operate inside the standards of the stator necessities of that particular nation. One of the good examples is in U.S where the health and social act 2012 is implemented which standardizes the monetary operations of health organisation. The act put down the values of formulation, which governs the information concerning the enforceability and configuration of contracts (Liebich et al 2012). In addition to this, there are directive principles of all the compulsory agreements, which are prepared in health organisation. A number of the agreements consists of protection letters, bailment, pledges and agency. It also offers the provisions related to the breach of contract. On the other hand, the other vital regulations pertain to the subject of the quality administration. The other vital regulations concerning the quality of management is the federal bureau, which is the administration body, shouldering the accountability of enforcement quality standard within the organisation that provides services to the wide-range of population. Systems relating to recording of transactions The assessment of organization for administering the monetary possessions in health and care organisation is by measuring whether they assemble the prospect and satisfy the needs of the customers along with the needs of the organisation as well. A health care organisation with the help of the organization guidelines and regulations has handled all the possible risks for its wellbeing centres in relation to the resource allotment measures where all the requirements and demands of the concerned parties are met. The concerned parties could be the staff and the patients in the evaluation process. With the help of cost reduction methods and financial expediency, the corporation has the effectively followed the guidelines of the management thereby, achieving the goals in offering social care to a large section of the population. Diverse sources of income that in health and social care organization Health and social care organization generate income from diverse sources. Dividends have been an essential source of income in the health and social care industry. Swayne et al.(2012) mentioned that the investors have been a substantial portion in the health and social care industry. In addition, the investors have been providing financial support to the in a hospital. Abdelhak et al. (2014) mentioned that the patients have been an essential part of the revenues earned by the business entity in an existing financial year. In this regard, it can be said that it is a constant source of revenue for the hospital. In addition, grants voluntary made have assisted the organization to pay off the short term as well as the long term loans of the business entity. Besides this, it has different branches set up at various places to gather additional revenue for the business entity. This would assist the business entity to gain additional income to offer effective customer service policies to the business enterprise The factors affecting generation of financial resources The economic condition - The economic condition of a place shall greatly determine the financial resources of a place. As such, it is necessary that the financial condition of a place shall have a substantial impact on the financial resources of a place. Patients financial resources Enthoven (2014) mentioned that the nature of patients condition have an essential impact on the financial resources of an entity. In this regard it can be said that social attitude is also a determinate factor on the financial state of a business entity. Thus, it is necessary that necessary promotional policies are made to influence consumer attitude and behavior. The goodwill and reputation - Then goodwill and reputation of business enterprise shall have an impact on the financial condition of a place. As such, it is essential that policies are made to create a strong brand identity. The nature of services - The nature of services offered to the consumers determines the consumer perception. According to Kongstvedt (2012), this shall have an essential impact on the nature of the services offered to the management of the business entity.Relationship with the shareholders of the company - Bryant and Nix (2015) mentioned that the relationship with the stakeholders of the company is an essential determinate on the financial stake of the company. As such, it is necessary that stakeholders create an adequate impression on investors, stakeholders and the consumers to have a positive impact on the financial condition of the business enterprise. cc Different Types Of Budget Expenditure The following are the different types of budget expenditure prepared by a healthcare organization a. Medical expenses - The medical treatment offered to the patients shall be of considerable expenses. In this regard, Bryant and Nix (2015) noted that the medical expenses would be of considerable budget. Thus, this is one of the essential expenses for which a budget has to be prepared, Operational Expenses - A budget prepared would assist the operational expenses of an enterprise. Thus necessary arrangements shall have to be made to determine the expenses of the organization and allocate the budget accordingly. Financing Decisions The following are the factors that shall be considered in determining the expenses in a particular financial year Sales revenue The sales revenue of a business entity shall have an impact on the financial condition of a healthcare and social care organization. As such, Armson et al. (2015) mentioned that the entity shall have the ability to bear substantial expenses for smooth business operations if it has achieved the sales revenue that is set by the business entity at the outset. Financial viability- The financial viability of a business enterprise shall have an influence on the decision-making procedure of a business enterprise. Thus, it is essential that the health or social care organization ensure the commercial viability of the entity in the market. The profitability position - The profitability position of a business enterprise would determine the decision-making expenses of an entity. Thus, it is essential that the profitability position is positive to allocate the expenses as per the needs of the organization,. Future forecast - The future forecast about the financial position of a business enterprise shall be determined through the future financial position of a business enterprise. According to Haas et al. (2013), the future forecast of the financial position shall determine largely the decision of the allocation of expenditure of a health and social care organization. Financial shortfalls Financial short falls may occur in business due to over expenditure or on the occurrence of any financial activity leading to crisis. Hence, there are several ways of managing financial shortfalls; Putting an overdraft to work: Overdraft can be considered as the one of the significant tool, which offers a business a greater flexibility to manage cash flow or any shortage of funds. It can be regarded as a small momentary loan. The interest charges applied are normally tax deductible as a business concern can reduce some of its irrelevant expenses in order to cut down unnecessary cost of operations (Salah and Souissi 2016). Invoice finance: An alternative is can be used where any business concern can access up to 85% of the growth in the worth of outstanding statement on an in progress basis. This is regarded as one of the effective way of managing the financial shortfalls for any business concerns and there by, gaining access to a growing pool of funds so that a business concern can use the available funds to purchase additional stock and pay out its creditors Collecting debts and negotiable debts: It is important that a short settlement of debts from debtors are more preferable than offering a long term negotiable debts facilities. It is best to ask the debtors to clear the debt in early instalments, which usually saves time consumption and allows rotation of cash into the business on regular basis (Ho and Peng 2016). Cutting down the expenses: If a business is experiencing shortfalls it is required to cut down its expenses. It is reasonable to save the amount of money by dropping un wanted expenses and keeping a track of every cent of money spend. Developing cash flow and budgetary systems: Financial deficient can be managed through implementation of effective cash flow of the organisation and designing effective budgetary systems. Through the help of management integrity, an organisation can keep a watch on the spending pattern of the various departments of the organisation and undertake effective measures against the reckless expenditure of personnel (Babajana and Phillips 2015). An organisation acquisition policy would address the issues related to the cash flow activities which can be reduced. Optimisation of the cash flow activities would help the organisation in achieving the financial health. Recommended action in the context of a suspected fraud According to Bryant and Nix (2015), the Health Insurance Portability and Accountability Act deals with cases which involves with financial irregularities of a region. This implements the necessary guidelines that would enable the organization to deal effectively with fraudulent issues in the market place. According to Pearce and Doh (2012), health care fraud is a serious issue that can hamper the operational policies of a business enterprise. As such, it is essential that the organization strictly adhere to the health Insurance and Accountability Act to prevent any financial fraud from affecting the sustainability of the organization. Thus, the organization cans implement an internal audit department to investigate financial irregularities affecting the organization. Ball et al. (2014) mentioned that a separate fraud investigation department can be adopted in the organization to aid the organization in the prevention of fraud. Budget Monitoring The budget-monitoring department can be adopted in the business organization to adjust the budget according to the needs of the organization. Chaudoir et al. (2013) mentioned that the budget monitoring arrangement can be used in the organization to prepare the actual budget in the organization to meet the actual expenses needs. The budget is prepared by the finance department of the organization in consultation with the management of the organization. Frequently, the management of the organization would analyze the budget and suitable actions shall be taken to facilitate the organization towards growth. Thus Recognition of information. The annual year- ended statements of an entity would useful tool for making finance related decisions. Thus, the Profit and Loss statement as well as the Balance sheet would provide the required data that would assist the management of the entity to make effective financial decisions. In this regard, the inflow of sales revenue would be of help to the business entity in making essential financial decisions. In addition, the existing market condition would be of importance to the management to make essential financial condition of the entity Health social services delivered and cost or expenditure The quality of customer services shall have an influence on the costs and expenditure of a health and social care organization. As such, it can be said that the service quality of an entity would lead to reduced costs and expenses of a business entity. According to Hacker and Walker (2013), greater service quality would lead to greater sales revenue and the market position of an entity. Thus, this would reduce the operational expenses of the business enterprise and bring a better position to the organization. Evaluation of financial considerations Financial considerations that can impact an individual through the health and the social care service are afforadibility, income of the individual and the nature of the decease the individual is afflicted with. In addition, such attributes include the proper availability of the medical equipments that can help to offer superior treatment to the patients. According to Coombs (2014), expensive medical treatments may create a feeling of discontent among the patients. Therefore, it is necessary that the entity charge reasonable prices to the patients, thereby, negligible impact on the financial condition of a business entity. The financial condition of a business enterprise would have a pertinent impact on individuals using the health and social care services of an organization. As such, the cost of medical treatment offered to the patients would have an essential impact on the existing financial state of the business entity. As such, the discounted rates offered to a different section of consumers are essential for the general well being and the growth of the society. Thus, profitability shall not be the only concern for organizations involved in health and social care. According to Lorenzi et al (2013), gathering consumer feedback remains essential for the growth as well as the reputation of a business entity. Following the views of consumer the organization can make necessary changes to suit the needs of the business enterprise. Necessary alterations in financial systems Following are the changes that can be made to the financial systems as well as the processes to enhance the health and social care system Any health and social care system should adhere to the general accounting principles as well as the necessary financial legislations to deal with the financial systems as well as the processes. Accuracy - There should be adequate emphasis on the authenticity and the accuracy of the data entered in the financial statements of a business entity. This would assist the organization to adequately asses the financial statements of the business enterprise and make policies accordingly. As such, it is necessary that the staff is given proper training to ensure the accuracy of the year ended financial statements of a health and social care organization. Besides this, the procedure of data collection as well as the storage should be imposed to assist the business enterprise to ensure adequate protection of organizational data. Apart from these measures it is essential that the organization implements advance technology mechanisms in its operational process to ensure the treatment of patients with minimum amount of time effort. Identification of disease - The primary stage in the treatment of patients is the identification of disease. This is necessary to ensure that the right treatment of patients and prevent recurring of any disease. According to Hans et al. (2012), this also reduces the unnecessary wastage of financial and non- financial resources of the business enterprise. Conducting regular audit schemes- It is pertinent that regular audit schemes are implemented to find any discrepancy in recording the financial transactions of a health care and social organization. Lorenzi et al (2013) mentioned that this would assist the organization in reducing the amount of fraud in the business and develop the year ended financial statements of an organization. The audit schemes shall compare the vouchers of the organization with the expenses and make relevant report to reflect the existing financial condition of the organization. Conclusion It can be stated that Care Tech solutions have implemented effective policies to assess the financial condition of an enterprise. The diverse sources of income have been adequately assessed and are reflected in the year ended financial statements. As such, many factors shall affect the financial condition of a health and social care business organization. These are - Patients economic condition as well as the goodwill and reputation of the entity are the primary constituents, which determine the inherent financial strength of an organization operating in the health as well as the social care segment. References Abdelhak, M., Grostick, S. and Hanken, M.A., 2014. Health information: management of a strategic resource. Elsevier Health Sciences. Armson, B.A., Allan, D.S. and Casper, R.F., 2015. Umbilical cord blood banking: implications for perinatal care providers. Review date: 2015-Sept. Babajana, Z. and Phillips, P., 2015. Managing Financial Resources and Decisions. Ball, A., Grubnic, S. and Birchall, J., 2014. 11 Sustainability accounting and accountability in the public sector. Sustainability accounting and accountability, p.176. Borkowski, N., 2015. Organizational behavior in health care. Jones Bartlett Publishers. 4 Brealey, R.A., Myers, S.C., Allen, F. and Mohanty, P., 2012.Principles of corporate finance. Tata McGraw-Hill Education. Bryant, R.A. and Nix, D.P., 2015. Acute and chronic wounds: current management concepts. Elsevier Health Sciences. Chaudoir, S.R., Dugan, A.G. and Barr, C.H., 2013. Measuring factors affecting implementation of health innovations: a systematic review of structural, organizational, provider, patient, and innovation level measures.Implement Sci, 8(1), p.22. Coombs, W.T., 2014. Ongoing Crisis Communication: Planning, Managing, and Responding: Planning, Managing, and Responding. Sage Publications. Drummond, M.F., Sculpher, M.J., Claxton, K., Stoddart, G.L. and Torrance, G.W., 2015. Methods for the economic evaluation of health care programmes. Oxford university press. Enthoven, A.C., 2014. Theory and practice of managed competition in health care finance. Elsevier. Enthoven, A.C., 2014. Theory and practice of managed competition in health care finance. Elsevier. Haas, L., Maryniuk, M., Beck, J., Cox, C.E., Duker, P., Edwards, L., Fisher, E.B., Hanson, L., Kent, D., Kolb, L. and McLaughlin, S., 2013. National standards for diabetes self-management education and support. Diabetes care, 36(Supplement 1), pp.S100-S108. Hacker, K. and Walker, D.K., 2013. Achieving population health in accountable care organizations. American Journal of Public Health, 103(7), pp.1163-1167. Hans, E.W., Van Houdenhoven, M. and Hulshof, P.J., 2012. A framework for healthcare planning and control. In Handbook of healthcare system scheduling (pp. 303-320). Springer US. Ho, S.S.H. and Peng, M.Y.P., 2016. Managing Resources and Relations in Health care: A Framework for Understanding Performance Improvement.Educational Sciences: Theory Practice,16(1). Kongstvedt, P.R., 2012. Essentials of managed health care. Jones Bartlett Publishers. Langabeer II, J.R. and Helton, J., 2015. Health care operations management. Jones Bartlett Publishers. Liebich, G., Von Zimmermann, P. and Rapp, R.A., Sap Se, 2015.Systems and methods for modeling costed entities and performing a value chain analysis. U.S. Patent 8,996,494. Lorenzi, N.M. and Riley, R.T., 2013. Organizational aspects of health informatics: managing technological change. Springer Science Business Media. Malik, A., Field, C. and Gorwood, P., 2016. Managing financial resources in healthcare settings.Psychiatry in Practice: Education, Experience, and Expertise, p.45. Pearce, J.A. and Doh, J.P., 2012. The high impact of collaborative social initiatives. Sloan Management Review, 46(2). Salah, H. and Souissi, M., 2016. FINANCIAL STABILITY AND MACRO PRUDENTIAL REGULATION: POLICY IMPLICATION OF SYSTEMIC EXPECTED SHORTFALL MEASURE. Swayne, L.E., Duncan, W.J. and Ginter, P.M., 2012. Strategic management of health care organizations. John Wiley Sons.

Overtime Analysis

Abstract The main aim of this study was to determine the most cost-effective method that the Immigration Branch of Commercial Bank of Dubai would use to minimize their annual expenses. The choice to be made was between overtime and hiring of new employees.Advertising We will write a custom research paper sample on Overtime Analysis specifically for you for only $16.05 $11/page Learn More From studies that have been conducted on the topic, it has been concluded that the difference between these two options is insignificant. However, overtime has always been the ultimate option since it is relatively cheaper as compared to hiring of new employees. From the results of the study, it was identified that the bank was understaffed especially on peak hours. It was also found out that the cost incurred while hiring new employees is higher than the cost incurred on overtime. Due to this fact, it was concluded that the bank should maintain its overtime policy. Howe ver, there are some regulations that have to be put in place to improve on operations and reduce overtime costs. Introduction The United Arabs Emirates (UAE) is one of the fasted growing regions of the world. From humble beginnings, the region has grown over the last several decades to be one of the strongest financial hubs of the world (Madar Research Group, 2008). The region supports a vast diversity of commercial activities. These include the oil and gas industry, tourism, infrastructural development, manufacturing industries, IT industries and many other commercial services. It is due to these factors that the GDP of the region has been growing at a tremendous rate especially for the last fifteen years. To support all these activities, the region has developed a strong banking industry. The financial sector of the UAE is undergoing a massive overhaul. This has come about as a result of the changes in the structure and composition of the population. Initially, the UAE population comprised mainly of old individuals who had a static ideology, illiterate and embraced their traditional morals and values. At the present moment, the population of the region has evolved. The region is now dominated by young enthusiastic individuals who are highly educated and more demanding. Their requirements, tastes and preferences have made the banking industry of the region to grow by increasing the diversity of its services and products (Hadjimonolis, 2009).Advertising Looking for research paper on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More With the help of the government, the banks and other financial institutions of the UAE have developed regulatory mechanisms that have enabled a better monitoring of funds and generally improved the banking service. These are perhaps some of the reasons that have led to the success that these banks are currently enjoying. Due to the availability of favourably conditions, the se banks have invested greatly to in order to meet the standards of their international counterparts. At the present moment, UAE has a mixture of local and foreign banks. All these institutions strive to serve the clientele of this region. Due to the commercial nature of the region and the high competition that is present in the banking industry, it has been important for these banks to maintain high standards and offer quality services in order to maintain their customers and attract new ones (Quayle, 2010). At the same time, it is essential for these banks to ensure that their operating expenses are at the minimum in order to enjoy profitability. This will guarantee their sustainability in the short run and in the long run (Berry, 2009). Commercial Bank of Dubai is one of the leading banks in the UAE. Founded in 1969 by the late Sheikh Rashid Bin Saeed Al Maktoum, the bank has grown in its operations and services. The late Sheikh Al Maktoum is accredited for founding the modern Du bai. During its early days, Commercial Banks of Dubai was in partnership with Commerzbank, Chase Manhattan and the Commercial Bank of Kuwait. Only a small proportion of the UAE citizens were the shareholders of the bank. Majority of the bank owners were foreign investors. Approximately ten years after its incorporation, Commercial Banks of Dubai became a National Shareholding Company. Its operations were further boosted when the government of Dubai became the major shareholder of the company in 1982 (CBD, 2012). This not only increased the available funds but also increased the popularity of the company among the locals. With massive transformations, the institution gradually grew to be one of the leading commercial banks in Dubai and the UAE at large. At the present moment, Commercial Bank of Dubai offers a wide range of retail and commercial services to its customers. The bank has a network of branches spread all over the UAE. Given the growth and expansion that the bank is curren tly experiencing coupled with the advancement in technology, Commercial Bank of Dubai aspires to offer the best banking services in the UAE and the world at larger.Advertising We will write a custom research paper sample on Overtime Analysis specifically for you for only $16.05 $11/page Learn More The Bank’s Mission Statement is to be recognized as a quality focused, customer driven, financially sound and socially responsible bank. Its vision is to be the bank that leads the way to greater financial and social prosperity (CBD, 2012). The following are the mission statements of the bank: Clients – To be recognized as the preferred banking partner in our target client segments Employees – To be recognized as an employer of choice through the fostering of a motivational environment which rewards superior performance Society – To be recognized for our ethical banking practices and for our contribution to the social well-being of the communities in which we are present. Shareholders – To be one of the most profitable banks in the UAE. The values of CBD create its own culture that supports growing of the company for a decade: Client First Consistent High Quality Cooperation and Teamwork Despite the success that the bank is experiencing, there are a number of problems within its management. All of the branches of the institutions have always been reporting problems that derail them from meeting their short-term and long-term goals and objectives. This is a normal scenario in the normal operations of any institution. The Immigration Branch of Commercial Bank of Dubai has over the last few years been experiencing high operation costs due to a number of factors. Overtime pay has been one of the main reasons why this branch has been experiencing high operating costs. It is essential for an employer to follow the labour laws and pay his staff accordingly. With regards to this issue, Commercial Bank of Du bai is not against paying its employees their normal salaries and overtime for the effort that they have put beyond their stipulated hours of employment. The bank conforms to the Labour Law Article No. 67 and 68 that clearly stipulates the payment rates with regards to normal work and overtime. However, the management of the bank has realised that there is a problem somewhere since it is paying exorbitant amount of money for overtime. In 2011, the bank paid approximately AED 60,000 worth of overtime per month. This figure is lower than that of 2010 but it is still a huge amount. The rise in overtime has increased the budget of the bank for the last several years. In the year 2010, the bank paid approximately AED 1.2 million in overtime pay (CBD, 2012). In the Immigration Branch, approximately the salaries that were paid in the same year had increased by 10% as compared to those paid in the previous years (CBD, 2012).Advertising Looking for research paper on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More The main aim this research study therefore is to determine critically analyze the problem that has been brought about by the overtime issue, the impacts it has on the operation of the branch and the bank in general. After all these issues have been identified and understood, proper recommendations shall be formulated to curb the issues that result to employees working overtime hence reducing the overall budget. Problem Statement A section of the management believes that paying overtime is still a better option of solving the employee crisis that the bank is currently experiencing. This is because, these employees understand the system and operation of the bank thus it will be easier for them to meet their targets and achieve the set objectives. On the other hand, there are those individuals within the management who believe that hiring of new employees will be a better option to the current crisis that the bank is facing. They argue that it is cheaper for the institution to hire new employees to meet the current back load in the branch rather than paying the current employees overtime. This study shall therefore focus on these two options and identify the most efficient option among them. Objectives and Research Questions The main objective of this research study is to identify the factors that lead to an increase in the overtime cost of the branch. Once this is achieved, corrective measures will be formulated to reduce the amount of overtime pay in the branch and still maintain the same level and intensity of operations. To achieve all these, the following research questions shall be used: Are there enough employees for each shift? How are employees allocated within the branch? Is it cost effective to pay overtime the current employees or to hire more employees in the branch? Is there any unethical use of overtime? Literature Review The world that we are living in is based on a monetary system. Therefore, for individuals, partnerships, corporations and stat es to be successful in the short run and in the long run, it is essential for them to maximize their earnings (Boone and Kurtz, 2011). According to Al-Hammad (2010), the best may that an organization can maximize its returns is through minimizing its costs and maximizing its benefits (Nelson, 2006). Once a huge margin has been established between income and expenses, the chances for a firm to maximize its profitability and be sustainable are also increased. It is with regards to this issue that managers have always strived to cut their costs to ensure that their organizations not only operate within their current budget limits but also maximize on their returns (Al-Hammad, 2010). It is due to this fact that many managers always eliminate unnecessary costs from their operations in a bid to reduce their operating expenses. Over the years, managers have minimized or cut the funds that were directed on a number of projects. Some of the funds that most organizations are fond of reducing or eliminating include entertainment and recreation allowance, transport allowance, passages, health benefits and funds directed to projects that are deemed as unproductive to an organization. These decisions have been successful in enabling these organizations meet their financial obligations while at the same time they have made others incur even more expenses. Careful consideration therefore has to be taken into account while cutting down funds and seeking alternatives for an organization. While undertaking such measures, the management has to ensure that the option that they take not only reduces the operating expenses of the firm but also maintains or increases the level and efficiency of operations within an organization (Al-Hammad, 2010). The banking industry is experiencing radical changes in the manner in which it is operating and the services that it is offering (Al-Hammad, 2010). In order to meet the ever-increasing demands of consumer and achieve consumer satisfaction, m anagers of banks have to consider the most efficient but cost effective option that will enable them to stand at a competitive edge over their rivals. Managers therefore have to analyze the existing and new staffing methods that will in order to formulate the most efficient method to meet their restrictive budgets (Nelson, 2006). There is a lot of controversy with regards to the staffing levels of different departments and the minimum amount of employees that a specific branch can have in the banking industry (Nelson, 2006). From the studies that have been conducted, it has emerged that the most expensive segment of a banking institution`s budget is the payment of salaries of professional staff Nelson, 2006 (). It has been approximated that almost 70% of the budget of all institutions, banking or non-banking, goes to the payment of salaries of professional staff. Most individuals who have conducted similar studies have arrived to the same conclusion. This is because it is the workfo rce that acts as a vessel of an organization to achieve its vision and missions. Due to this fact, many managers have come up with solutions of trying to reduce this unavoidable cost. One of the options that many organizations have adopted is via maintaining a minimum number of all the employees. To ensure that all the workload it attended to with this minimum number of employees and to eliminate employment vacancies, managers have opted for the overtime option to cover this gap. Indeed, overtime results to additional costs to an organization but most managers are willing to experience this costs rather than the cost of recruiting new employees (Nelson, 2006). Many organizations have accepted the fact that overtime spending is part and parcel of their operating costs. They view overtime as a means of maintaining a minimal staff level and at the same time ensure that the operations of their organization are conducted in an effective an efficient manner. While conducting her study, Le lja (2008) interviewed a number of branch managers of banks in downtown Georgia Atlanta. From her results, 68% of the managers accepted the fact that overtime is one of the best staffing methods that maintains the staff levels of their branches at a minimum while they still exhibit high performance. Of the 24 managers who were interviewed, 18 were using overtime as a means of achieving their targets while maintaining a low sized staff in their branches (Lelja, 2008). It has always been argued that overtime pay is a means of guaranteeing revenue increment in organization that wishes to minimize its operating costs (Lelja, 2008). The rate at which employees are paid for duties they perform in overtime is always higher than the pay they get while working on normal hours. Overtime rate is normally calculated using a number of methods. Despite the method that is used, employees are guaranteed to get more from their overtime efforts. The same concept applies in the banking industry. Out o f overtime, employees of a financial institution tend to make much more than they usually do. A study that was conducted by Nelson (2006) revealed that most of the employees who worked overtime made much more in overtime than their salaries. This study focused on all industries and professions. It emerged that fire fighters and bankers ended up accumulating much more than other individuals in the society as a result of their overtime pay (Nelson, 2006). In some cases, these individuals ended up earning two times or even three times much more that they earn on normal pay. This fact thus made them to feel respected in the society. This in turn motivated them to even work harder and meet the goals and targets that have been set by their employers. Nelson (2006) concluded that overtime not only reduces the overall expenses of an organization but it also motivates employees to work harder and meet their short-term and long-term targets. The exorbitant amounts of money that employees make out of overtime normally have a heavy blow on the budget of organization. Firms tend to allocate most of their funds to carter for the pay of their employees. However, much more money is even spent as a result of overtime. The managers of many banking institutions have always complained that the amount of money their branches are spending with regards to overtime is so high (Boone and Kurtz, 2011). Commercial Bank of Dubai is one of the banks that have been experiencing high costs for the last few years. In the year 2010, the bank spent approximately AED1.2 million on its Immigration Branch alone on overtime (CBD, 2012). In 2011, the branch required an average of AED 60,000 per month to meet its overtime costs. Most managers in the banking industry believe that the high costs they are experiencing with regards to overtime pay is as a result of the operating shifts that are being used in their respective branches. In her study Quayle (2010) asserted that there is a correlation betwe en overtime pay and the implementation of shifts that last for more than 12 hours. Quayle (2010) believes that the 8-10 hour shift in the banking industry is more effective and efficient than the 10-14 hour shift. However, other researchers argue that the 10-14 hour shift is more effective since it is beneficial to both the banking institution since it reduces the overall expenses and to the employee since such employees are motivated by the high overtime pay that they get. Quayle (2010) suggested that the 8-10 hour shift is more efficient since it requires minimal utilization of sick days and leave days, it requires minimal overtime pay and employees perform to the best of their ability due to the absence of fatigue that arises from long hours of work. The 8-10 hour shift is thus viewed as an efficient and cost effective option as compared to the 10-14 hour shift where more sick days and leave days are used, high overtime costs are experienced and employees are fond of making error s and other mistakes due to fatigue and stress that results from long hours of work. In the 10-14 hour shift, the performance of employees is in most cases not as per the expected standards as employees rarely meet their set goals and objectives as per the requirements of the management. According to Quayle (2010), such shifts have always been associated with decrease in production and quality of goods and services from the employee end point. Therefore, by adopting the 8-12 hour shift, financial institutions shall increase on their effectiveness and efficiency as the employees will be at their best while working (Quayle, 2010). This will ensure that they carter to the needs of their customers as per their expectations. This is an essential factor in achieving consumer satisfaction. On the other hand, the 8-10 hour shift also reduces the operating costs as fewer sick days are used and overtime is minimized. The issue of employing additional staff to meet the staff demand of an organ ization and avoid overtime has always been discussed in a number of studies. Sandberg (2009) conducted a study where he tried to determine whether paying employees at an overtime rate of 1.5 times more than their salary cost-effective as compared to hiring new employees. From the study, it was identified that it was 13.1% cheaper to pay employees overtime than to hire new individuals (Sandberg, 2009). This index was calculated by considering the employees current salary, their overtime rates and benefits versus the cost of recruiting and hiring new individuals. Hiring new employees in itself also has associated costs. These include posting the vacancy advertisement on various forms of media, screening the documents of the applicants, contacting successful applicants to come for an interview and conducting the actual interview. Other costs include hiring trainers to train the recruits, purchasing materials that will be used in the process of training, paying the recruits allowances i n the process of training and other miscellaneous costs that may arise (Sandberg, 2009). In the process, the level of production of these employees is not as per the expected standards of an organization. In addition, there are always high trainee turnover rates as only a small proportion of the employees who commence the training actually go through the entire process and become productive members of staff at the end of the process (Sandberg, 2009). There are also additional costs that are involved with maintaining permanent staff. These include insurance compensation, payment to pension schemes, retirement benefits, holiday pay, leave pay, payment of special tools, equipments and clothing that may be requires for specific works. It is thus essential for the management of an organization to consider all the associated costs while determining the best option to adopt. From his study, Sandberg (2009) concluded that it was cheaper for financially institutions to pay for overtime rathe r than experiencing the costs of hiring new employees. It is due to this fact that many organizations opt to maintain their employees even after their retirement ages. These institutions feel that it is financially feasible to pay such employees their benefits, salaries at a higher rate rather than hiring new employees. Such employees are normally maintained due their expertise that is difficult to get from fresh recruits. It has always been argued that the college live-in programme to be one of the best alternatives to meet the staffing requirements of an organization without straining its financial limits. With this program, organizations are able to meet their obligations without the hiring of permanent staff. The work overload that an organization may be experiencing is normally shifted to these students who work as part and parcel of the team. The main aim of these students is to gain experience and not to be paid. Such programs normally give students the change to put their th eoretical knowledge and skills into practice and gain experience and exposure in the process. Salary is not their main issue. This gives organizations the best chance of reducing their financial burden by administering chores to these students. The college live-in program is thus a better alternative than hiring new employees. In the course of giving these students exposure, there are possibilities that industrious students may be identified that will ultimately join the working team as permanent staff. This is a relatively cheaper means of organizations obtaining employees rather than recruiting from scratch. However, such programs are not expected to fill in the employment vacancies that may be available in an organization or reduce the overtime burden (Sandberg, 2009). Berry (2009) suggested that once overtime has been used for some period of time, it will reach a point that an organization will start o experience the diminishing marginal returns. In his study, Berry (2009) concl uded that it is cheaper to utilize the option of overtime pay for a couple of years than to employ new staff to meet the workload at an organization. This can be achieved by putting in place proper measures, careful planning and wise utilization of financial resources. Once these considerations have been put in place, an organization stands a higher chance of benefiting more from overtime rather than hiring new employees (Berry, 2009). It is thus advisable for financial institutions such as micro finances and banks to adopt and implement the option of overtime while adhering to strict rules and regulations to ensure that this option becomes part and parcel of their operating system. Once this is achieved, such an organization shall benefit a lot from in terms of cost reduction from overtime rather than recruiting new employees. Financial institutions advocate for overtime as a means of maintaining their employee level to a minimum (Al-Hammad, 2010). The minimum number of employees w ho can work in a specific department is normally determined by the volume of work that is expected to be encountered. However, there are always uncertainties that tend to disrupt the number of available employees in meeting their obligations. Holidays offs, leaves, sick leaves, injuries, workshops and training, major incidents and lateness are some of the factors that facilitate the need of overtime (Al-Hammad, 2010). These factors normally result in a decline in the number of available employees to meet the daily obligations of a branch. Due to this fact, Al-Hammad (2010) stated that it was essential for managers to put into consideration all factors that may lead to the occurrence of overtime. However, some of these factors are unpredictable thus difficult to quantify. Due to this fact, Al-Hammad (2010) in his study used historical data to determine the trends and occurrences of factors that led to the development understaffing in various bank branches. From the results that he fo und, he developed a breakeven point of hiring additional employees and advocating for overtime. In his study, he concluded that it was advisable for a branch or an organization to employ more individuals up to the breakeven point. Once this point has been exceeded, it was advisable for a firm to utilize the overtime option as it will yield more benefits and result to lower costs that hiring of new employees (Al-Hammad, 2010). With his results, he was able to develop a profitability formula that would calculate the optimal number of employees who are able to meet the daily staffing obligations of a specific organization. There are however a number of drawbacks that are associated with overtime. It has been argued that the process may be insidious (Berry, 2009). Once the act has been introduced in an institution, it will be virtually impossible for the management to cut on the resultant costs, leave alone eliminating it from the organization. In such circumstances, overtime becomes pa rt of the operating activity of an organization. All the employees of an organization accept it as a norm and it becomes part of their organization culture. Overtime, in some instances, is not successful in meeting the goals and objectives that it has been advocated to meet in the first place. This is because overtime requires employees to work for long hours. This normally leads to brain drain, fatigue and loss of concentration. As a result, employees tend to become less productive. This in some circumstances may lead to a decline in productivity of the entire organization since the employees are incapable of meeting the needs of their clients. From the literature that has been covered in this paper, it is evident that managers are always striving to come up with the best means of reducing their operating costs. One of their main methods has been to maintain the number of the staff at a minimal level. However, this has normally resulted in back loading. Due to this, most managers h ave advocated for overtime as the most cost effective method rather than hiring new employees. This study shall therefore go further on this area of study and determine whether indeed overtime is a cost effective option as compared to hiring of new employees. Methods Literature Review Literature review was a source of secondary information for the exercise. This data was obtained from books, magazines, peer reviewed journals, online articles and other relevant sources that had discussed the issue of overtime and related labour laws. Through literature review, some of the methods that had been used in the previous studies were borrowed and applied to the current study. Also the recommendations of the previous studies were considered in the current work and further research and analysis were conducted on the same. Information from literature review was therefore used as a guiding tool in conducting this study. Administering of Questionnaires To gain quantitative data, questionnaires w ere administered to the target groups using the following procedure: There were two sessions of interviews on each day. The interviews were conducted in the morning hours and in the afternoon. In each session, only one individual was interviewed. This was done to ensure that employees still meet their employment obligations while giving time for the study. Members of different ranks and departments were interviewed to ensure that the attitudes of different employees are tested. Each session lasted for around 60-90 minutes. Techniques: Construction (visual) I conducted all the interviews with the help of a moderator. This ensured that all requirements of the study have been precisely covered. To ensure this, a pre-determined agenda was used. Analysis of qualitative data and questionnaire designing To construct a questionnaire that was precise and straight to the point, qualitative data had to be analyzed and interpreted first. This information helped in the making the questionnaire . It ensured that the questionnaire that was used for the study became a powerful tool for the collection of quantitative data. The resulting questionnaire therefore was precise, flexible and be able to collect only the relevant data that was needed for the research study. Method: Qualitative data coding and survey conducting preparation The data that was obtained from the interviews that were conducted on the target groups was coded statistically to reveal the trends and sequences. Finally, the data that was obtained was used in the preparation of the final report. The inferences that were arrived at from the analysis of qualitative data together with the information from the literature review were used to structure the questionnaire to reflect only the relevant information for the study. Primary Research (quantitative) Primary data is used to refer to data that has been collected directly from the area of study (Hadjimonolis, 2009). For this study, questionnaires were used to coll ect this vital information. This was a critical procedure to obtain first hand information that helped to explore the research objectives and gain statistical data that is necessary for data analysis. The questionnaires were structured in such a way to minimize the occurrence of errors that would have otherwise made the data collected from the field to become unreliable. Careful measures were taken to avoid this. Prior to the conduction of the interviews, the validity of the questionnaires was tested and approved for use. Method: Survey Structured questionnaires were used to collect data from the target group. These questionnaires comprised of a total of 15 questions that were structured in such a way that one question led to the other. 20 individuals were interviewed face to face for five straight days excluding weekends. The interviews were only conducted on the Immigration Branch of the Commercial Bank of Dubai. The managers, heads of different departments and employees from all the departments formed the target group of the study. The target group was composed of individuals who held different ranks within the branch. This was essential as it assisted in the determination of the attitudes and perceptions of all branch employees with regards to overtime and hiring of new employees. Random sampling technique was used to get the individuals to be interviewed in the study to avoid biasness. Data Analysis Raw data from the field is of no use since it does not make any sense at all. It is mainly composed of numbers and codes that need to be analyzed to make sense. Analysis of data involves three major steps: Data preparation that involves the organization of the data that has been collected for easy analysis. Descriptive statistics that entails the description and interpretation of the data that has been collected. This can be done using charts and bar graphs to explain the trends that have been observed. Inferential statistics that is done to test whether the data that has been collected is consistent with the objectives and hypothesis of the study. This is where either the null hypothesis or alternative hypothesis is proved to be true. Method: SPSS 16.0 For accurate analysis of the statistical data, a computer programme called SPSS 16.0 was used for descriptive data analysis. The data was explored using descriptive statistics and histogram plots to determine the shape of the distribution for each sample variable. The name given to each variable for the data analysis was given in a table. Data analysis was carried out using parametric tests where the data followed a normal distribution and where the sample number was equal to or greater statistical power. Where the data did not follow a normal distribution or where the data was split into groups of less than the sample size (n), non-parametric test was used. For example, a Pearson correlation test was carried out on the data to explore any linear relationships between the variables. Eth ical Considerations For the data to represent a true and fair view, the study had a few considerations on ethics. The data collection exercise was conducted in only one branch but employees from all the departments and ranks were involved in the study. In addition, the issue of gender was also put into consideration as the members of all the sexes were equally represented in the study. This consideration was done to gather information on the immigration department and the data that was collected could be generalised to reflect all the the branches of Commercial Bank of Dubai and all the banks in general that have been experiencing the same problem. The questionnaire was structured in a manner that it avoided any conflicts with regards to ethical considerations such as traditions, religion, age, rank and gender. It mainly focused on collecting the data that was required for the study. Prior to the commencement of the research, the management, departmental heads, employee representati ves and all the employees of the Immigration Branch were notified. Results The results that were found from the study were very interesting. The data that was acquired from the questionnaires were interpreted using the Likert scale. These results clearly showed the attitudes and perceptions of the employees who were interviewed during the study. Each question in the questionnaire was used to measure a unique variable that was being tested in the study. Additionally, literature review acted as the main source of information for this study. Financial data from the branch revealed the data and statistics of hiring new employees and paying overtime. This data was essential as it guided the course of the research, its analysis and the results that were used to answer the research questions. Due to the ever-rising number of clients, Commercial Bank of Dubai has been employing approximately 80 individuals annually who were distrusted in all their branches. The Immigration Branch for instan ce receives at least 8 -15 new employees annually. In the process of hiring new employees, the branch experiences direct and indirect costs. Indirect costs include those costs that are charged directly to the human resource department of the headquarters while direct costs are those costs that are charged directly to the Immigration Branch. Table 1 below summarised the costs required to hire new employees. Table 1 Cost Amount per Employee (AED) Application of a Position 2500 Application Review 3500 Application Data Entry 2500 Application Status Notification 1300 Written Exam Administration 5500 Written Exam Notification 5500 Other Expenses (Facing the Panel etc) 18,500 Total Costs 39,300 Table 2 below shows other associated costs incurred in the process of employment. Table 2 Cost Amount per Employee (AED) Background Reference Check 5500 Background Educational Check 5500 Background Credit Check 5500 Medical Check 5500 Review of Background Informati on 18500 Fingerprinting 7200 Provision of Accessories 98,000 Total 145700 The total overall cost that is thus required to hire a new employee was approximated to be AED 185,000. This cost does not include the additional salaries and benefits that employees are entitled to. From the analysis of the employment records of the immigration branch between 2008 and 2010, it was evident that vacancies were available in all the departments and ranks. From this analysis, it was concluded that the backlog in work that the Immigration branch is experiencing is as a result of understaffing. This has prompted the manager to advocate for overtime as a solution to their current problems. It is due to this shortage that the management implemented the 10-14 hour shift instead of the 8-10 hour shift. The branch manager`s rank ranged to the no manager on duty to a full time manager. The same trend applied to other managers and departmental heads. For the tellers, their shifts ranged from a low of three 3 on duty to a maximum of 11. Accountants ranged from a low of 4 to a maximum of 12. The customer care department ranged from a low of 2 to a maximum of 6. The number of employees present in a single shift was determined by the peak hours of the day. The peak hours were experienced between 9 am to 10.30 am and from 2.30 pm to 4 pm. The bank also experienced an influx of customers during the period of end month and the beginning of a new month. Due to the seasonal nature of the consumer peaks, the management felt that during off peaks, the branch would be overstaffed hence incur unnecessary expenses. To determine whether overtime was cost-effective than hiring new employees, a thorough examination of the employees annual salary and the hourly rate determined. The hourly rate was determined by dividing the total compensation with the 2256 (the total numbers of hours an employee is expected to work in a year). The overtime rate was then calculated by multiplying the hourly ra te by 1.5. Table 3 below shows the summary of hourly rate pay for employees of different ranks. Table 3 Position Annual Income (AED) Hourly Rate (AED) Overtime Rate (AED) Managers 360,000 159.57 239.36 Accountants 144,000 63.83 103.25 Tellers 120,000 53.19 79.79 Customer Care Reps 96,000 42.55 63.83 To determine the impacts of hiring a new employee, the cost of training can be added to the annual salary that each employee is entitled to. This information can be analysed in the Table 4 below. Position Annual Cost Hourly rate Managers 545,000 241.57 Accountants 329,000 145.83 Tellers 305,000 135.2 Customer Care 281,000 124.56 From the above table, it is evident that paying overtime is cheaper than employing new individuals. The cost of employing new individuals becomes higher as one moves down the ranks and this are the positions that have the ultimate need of effort from employees. To determine the financial impact of overtime versus hiring new employees o n the branch, a Pearson Correlation was conducted. Its results are represented in the Table 5 below. Correlations Overtime Costs Recruitment Costs Overtime Costs Pearson Correlation 1 0.618 Sig. (2-tailed) 0.626 N 30 30 Recruitment Costs Pearson Correlation 0.618 1 Sig.(2-tailed) 0.626 N 30 30 A Pearson correlation of 0.618 implies a strong positive relationship with insignificance at 5% therefore suggesting that it is more expensive for the organization to employ new individuals rather than paying overtime. Discussion The main aim of conducting this research study was to determine whether is overtime was a cost-effective option for Commercial Bank of Dubai to employ on its Immigration Branch over the option of hiring new employs. Studies that have been conducted by Berry (2009), Quayle (2010) and Sandberg (2009) concluded that there is no significant difference between paying overtime and hiring new employees. However, from the results of this study, it i s evident that there is a significant difference between hiring new employees and paying overtime. The significance in difference increases as the ranks of employees in the branch reduces with employees on the customer care department exhibiting huge differences between overtime pay and the cost of hiring new employees. This was evidenced by the AED 60.73 difference in the hourly rate. However, it should be noted that this additional cost is only incurred during the base year of employment. Once the employee has been assimilated into the system, the overall costs are expected to reduce. However, it is due to this reason that Berry (2009) asserted that employers opt to maintain their staff rather than employing new ones every year due to the high costs that are incurred in the process of recruiting these individuals. It is due to this fact that the management of Commercial Bank of Dubai have advocated for overtime over hiring of new employees. Consequently, from the analysis of the e mployment records and performance, it can be concluded that the bank is slightly understaffed. It is due to this reason that the banks always have a backlog of work hence the need for overtime. However, the bank managers argued that this overload of work is only seasonal and is experienced only during peak hours. Once the operations of the bank return to normal, the number of staff that is present is capable of meeting the operational demand. However, if the bank had opted to hire new employees, its operations would only be efficient during peak hours. However, during off peak hours, the branch will be overstaffed hence it will incur unnecessary costs. It is due to this fact that the management prefers overtime over hiring new staff. Finally, there are some drawbacks that are associated with overtime. In her study Lelja (2008) proved that there is a direct relationship between decrease in employee performance and an increase in the amount of work and hours of work. The Immigration B ranch has also experienced the same effect since employees complain of fatigue as a result of working for long hours. In addition, there have been cases of errors and mistakes in the branch. Although these events did not greatly affect the performance of the branch, it is essential for the management to check these issues. However, at the current moment, the bank stands a better chance of meeting its short-term and long-term goals and objectives through cost cutting by embracing overtime over hiring new employees. From the results that have been presented in this study, it is evident that overtime is the most cost-efficient option as compared to hiring of new staff. Conclusion and Recommendation Management is an essential aspect in the determination of the long-term sustainability of an organization. In the process of running an organization, it is the role of a manager to minimize his costs and maximize his benefits in order to ensure that his/her organization is profitable in the short-run and in the long-run. The immigration Branch of Commercial Bank of Dubai has been experiencing high operating costs as a result of overtime. To cut costs, the branch had the option of hiring new staff or implementing overtime. From the results that were arrived at in this study, overtime was the most cost efficient option that the bank had. However, there are some shortcomings that are related to this option. The main shortcoming is the decline in efficiency and productivity of the branch. To avoid this, I would recommend that the bank develops a breakeven point that would determine the best the best staffing alternative with regards to the two options given the prevailing situation. This will ensure that the bank enjoys the benefits of overtime and hiring new staff at the same time. References Al-Hammad, I. (2010). The Obstacles of Instructional Supervision in Arabian Banks.  Unpublished Master Thesis. King Saud University: Riyadh. CBD. (2012). About Us. Commercial Bank of Dubai. Web. Berry, L. (2009). Relationship Marketing of Services, Growing Interest and Emerging Perspectives. Journal of the Academy of Marketing Science, 23, 236–245. Boone, L. and Kurtz, D. (2011). Contemporary Management. New York: Cengage Learning. Hadjimonolis, A. (2009). Staffing and Ethics: A Case Study of Developing Nations.  Technovation, 19 (9), 561-570. Lelja, V. (2008). The Role of Gender in the Perception of Barriers to E-commerce Adoption in SMEs: A Case Study of the United Arab Emirates. IBIMA, 4, 121-147. Madar Research Group (2008). Dubai E-Commerce Special Feature. Madar Research Group. Retrieved from https://www.lowtax.net/information/dubai/dubai-internet-city.html Nelson, C. (2006). UAE National Women at Work in the Private Sector: Conditions and Constraints. Dubai: Trident Communications. Quayle, M. (2010). Management: The Challenge of Financial Institutions in the 21st  Century. International Journal of Operations and Production Management, 22(10) , 1148-1161. Sandberg, K. (2009). An Exploratory Study of SME`s Management. Journal of Small  Business and Enterprise Development, 10 (4), 408-417. This research paper on Overtime Analysis was written and submitted by user Mariyah Page to help you with your own studies. You are free to use it for research and reference purposes in order to write your own paper; however, you must cite it accordingly. You can donate your paper here.

Milk and Milk Products Essays

Milk and Milk Products Essays Milk and Milk Products Essay Milk and Milk Products Essay Milk is a perfect nutrient. It is a portion and package of the diet of all immature and old. It is indispensable for the proper growing of the human organic structure. It is a balanced diet. It contains proteins. saccharides. fats. minerals and vitamins in the ratio in which they are needed for the proper development of the organic structure. This is why it best suit ; babes and the ill. Milk contains Ca. Newly born babes are fed on mother’s milk. It helps in the formation of castanetss. Following to mother’s milk. is cow’s milk. Milk should be boiled before it is taken. Before boiling. it should be strained through a piece of harsh fabric. Milk loses much of its nutrient value if it is boiled for a longer clip. We prepare a batch of things from milk. They are butter. curd. lassi. cheese. pick and a figure of Sweets which sell like hot bars. They are relished by every-body. We use milk in changing measures in tea. Milk in its purest signifier is rare now. Peoples have become dishonest. They adulterate milk by adding H2O to it or they get cream extracted from it. These malpractices destroy the nutrient value of milk. These yearss tea is more popular than milk. Tea no uncertainty is cheaper but it is positively harmful for wellness. Milk strengthens friends bacteriums in our organic structure to defy diseases but tea destroys those bacteriums. Equally far as possible. tea should non be given to kids. One chief ground why the state people are stronger than city- bred people is that they get milk and milk merchandises in greater step than the people of metropoliss. Lassi is their favorite drink. The type of animate being. its quality. and its diet can take to differences in the coloring material. spirit. and composing of milk. Infections in the animate being which cause unwellness may be passed straight to the consumer through milk. It is hence highly of import that quality-control trials are carried out to guarantee that the bacterial activity in natural milk is of an acceptable degree. and that no harmful bacteriums remain in the processed merchandises. Milk fat The monetary value paid for milk is normally dependent upon the milk-fat content. and this may be determined either at the aggregation phase or at the dairy utilizing a piece of equipment known as a butyrometer. Additionally the specific gravitation can be measured utilizing a gravimeter. This can besides be used as an assistance to observe debasement. Bacterial activity Routinely it is necessary to look into the microbiological quality of natural milk utilizing either methylene blue or resazurin dyes. These trials indicate the activity of bacteriums in the milk sample and the consequences determine whether the milk is accepted or rejected. Both trials work on the rule of the clip taken to alter the coloring material of the dye. The length of clip taken is relative to the figure of micro-organisms nowadays ( the shorter the clip taken. the higher the bacterial activity ) . It is preferred to utilize the resazurin trial as this is less time-consuming. For these trials. basic research lab equipment will be needed such as test-tubes. a H2O bath. accurate measurement equipment. and a supply of dyes. After aggregation the milk should ideally be stored at a temperature of 4Â °C or below. This is necessary to decelerate the growing of any polluting bacteriums. Phosphatase trial For pasteurized milk. it is possible to guarantee that pasteurisation has been adequately achieved by proving for the presence of the enzyme phosphatase. The devastation of phosphatase is regarded as a dependable trial to demo that the milk has been sufficiently heat-processed. because this enzyme ( present in natural milk ) is destroyed by pasteurisation conditions. It is stressed that pasteurisation is an effectual precaution against spoilage and nutrient poisoning merely if the milk is non re-contaminated after pasteurisation. Production of Feed The dairy supply concatenation begins with turning harvests such as maize. lucerne hay and soya beans to feed dairy cattles. About 35 per centum of provender is grown on the farm by dairy husbandmans ; the remainder if purchased from other husbandmans. Milk Production Dairy cattles are housed. fed and milked on dairy farms across the state. On norm. a cow in the United States gave approximately 20. 576 lbs of milk in 2009. Milk Transport Milk is transported from farm to treat company in insulated oiler trucks. The mean truck carries 5. 800 gallons of milk and travels about 500 stat mis round trip. Processing There are more than 1. 000 U. S. processing workss that turn milk into cheese. yoghurt. ice pick. powered milk and other merchandises. Boxing Packaging is typically done by the dairy processor. Both poster board and plastic containers are designed to maintain dairy merchandises fresh. clean and wholesome. Distribution Distribution companies deliver dairy merchandises from the processor to retail merchants. schools. and other mercantile establishments in refrigerated trucks. Retail Milk and dairy merchandises are available at 178. 000 retail mercantile establishments of all forms and sizes – from convenience shops and vicinity food markets. to big price reduction shops and warehouse mercantile establishments. Consumer Milk and milk merchandises deliver nine indispensable foods to kids and grownups. advancing good wellness and wellbeing throughout all phases of life. The milk contains all the nutrient. including protein. fat. sugar. and other foods. a immature mammal requires for a long period of clip. Milk comes from sheep. cattles. and caprine animals. Milk is good for us because we grow up healthy and have a strong organic structure. we have crisp dentitions and have energy. Everybody needs milk illustration: babes. yearlings. ill people. kids. aged and old people. In assorted parts of the universe. caprine animals. caribou. donkeys. yacks. H2O American bison. and sheep are domesticated and milked. In most states. nevertheless. dairy cattles provide milk. Milk and milk merchandises are intoxicated and eaten in many signifiers. including buttermilk. cheese. yogurt. and butter. Milk can be reduced to pulverize. concentrated in a thick liquid. and used in cooking. Fresh milk sours rapidly. but. when changed into signifiers such as cheeses. it can be kept for a long clip. Peoples consume milk in fresh. dried. and condensed signifiers. The dairy husbandmans take their cattles to the keeping country. where they wash their cattles for milking. When cattles are clean the dairy husbandmans leads them to a particular room called the milking parlour. The dairy husbandmans take out the milking machine and attach it on the bag of the cow and begings milking. After few minitues when the cow has given all the milk the dairy husbandman weighs the milk and notes the sum in the particular diary. Each cow produces about 4500 liters of milk each twelvemonth. The milk travels from the cattles through glass pipes to the milk armored combat vehicle. The milk neer touches the air it stays clean and fresh. The milk cools in the armored combat vehicle. After this the dairy husbandmans clean the milking equipment and feed the cow. The cattles eat leafy vegetables. hay and maize that the dairy husbandmans grow. They besides eat vitamin feed that helps them do more milk. Subsequently from the chilling armored combat vehicle milk is transported to Process Company in insulated oiler trucks. Before the milk can be sold. it is tested to be certain it is fresh and pure. The milk is besides pasteurized. a particular procedure that kills any sources and keeps the milk fresh. The milk is poured into containers to sell in shops. The sum of milk a dairy cow produces varies from month to month. A cow does non bring forth any milk at all until the first calf is born. The husbandman removes the calf 2 yearss after birth. so that the cow is free to be milked. She is milked twice a twenty-four hours to maintain the milk output high and is given excess nutrient. The cow is milked for 10 months. Within three months after break uping ( giving birth ) . she is mated once more. During gestation the milk yeild falls bit by bit. and for 2 months before the birth. the cow is dry. For six hebdomads before the birth. she is given excess nutrient to assist her to bring forth a good milk supply after break uping. This is called steaming up. Get downing with the month when a calf was born. a calender is made demoing how a cow’s milk output alterations over a twelvemonth.

Business Finance Research Paper Example | Topics and Well Written Essays - 1500 words

Business Finance - Research Paper Example The Financial Review is where business performance is quantified in dollars The Financial Review has two major parts: Discussion and Analysis, and Audited Financial Statements. A third part might include information supplemental to the Financial Statements. In the Discussion and Analysis, management explains changes in operating results from year to year. This explanation is presented mainly in a narrative format, with charts and graphs highlighting the comparisons. The Operating results are numerically captured and presented in the Financial Statements. (http://www.terry.uga.edu/akefalas/courses/mirrors.htm 2005) The balance sheet represents the financial picture as it stood on one particular day, December 31, 19X9, as though the wheels of the company were momentarily at a standstill. Typical Manufacturing's balance sheet not only includes the most recent year, but also the previous year. This lets you compare how the company fared in its most recent years. The balance sheet is divided into two sides: on the left are shown assets; on the right are shown liabilities and shareholders' equity. Both sides are always in balance. ... Current liabilities Accounts payable $60,000 $57,000 Notes payable 51,000 61,000 Accrued expenses 30,000 36,000 Income taxes payable 17,000 15,000 Other liabilities 12,000 12,000 Total current liabilities $170,000 $181,000 Long-term liabilities Deferred income taxes $16,000 $9,000 12.5% Debentures payable 2010 130,000 130,000 Other long-term debt 0 6,000 Total libilities $316,000 $326,000 Shareholders Equity Preferred staock $5.83 cumulative,$100 par value authorized, issued and outstanding60,000 shares $6,000 $6,000 Common stock $5.00 par value,authorized 20,000,000 shares,19x9 issued 15,000,000 shares,19x8 14,500,000 shares 75,000 72,500 Additional paid-in capital 20,000 13,500 Retained earnings 249,000 219,600 Foreign currency translation adjustments 1,000 (1,000) Less: Treasury stock at cost (19x9-1,000; 19x8-1,000 shares) 5,000 5,000 Total shareholders' equity $346,000 $305,600 Total liabilities and shareholders' equity $662,000 $631,600 Typical Manufacturing Company Inc. Consolidated Income Statement December 31,19X9 and 19X8 (dollars in thousands) 19X9 19X8 Net sales $765,000 $725,000 Cost of sales 535,000 517,000 Gross margin $230,000 $208,000 Operating expensesDepreciation and amortization 28,000 25,000 Selling, general and administrative expenses 96,804 109,500 Operating income $105,196 $73,500 Other income (expense) Dividends and interest income 5,250 9,500 Interest expense (16,250) (16,250) Income before income taxes and extraordinary loss $94,196 $66,750 Income taxes 41,446 26,250 Income before extraordinary loss $52,750 $40,500 Extraordinary item: Loss on early extinguishmentof debt (net of income tax benefit of $750)

Benefits that are associated with good growth Essay

Benefits that are associated with good growth - Essay Example This essay discusses that once the living standards decline or stagnate, there is little or no progress at all in most societies toward any of the aforementioned goals, this leads to retrogression in many instances. The importance of good economic growth cannot therefore be overlooked as it ensures standards of living are improved as well as the well being of the economy itself. The impacts of economic growth should not necessary be negative towards the environment. It has been argued by some economist that economic growth can ultimately lead to environmental improvement, notwithstanding the increase in environmental degradation in the past associated with economic growth. As Robert Reich puts it, economic growth does not necessarily mean production of a lot of stuff, but rather, it is all about the nation’s ability to produce everything that the inhabitants of that nation want and need, which include improvement of public health, schools, as well as effective management of en vironment. This statement is validated by the argument advanced by Friedman to states that even though there is a wide belief that a bigger GDP ( availability of more services and goods) show the way to more satisfied and happier citizens, the proposition is more complicated than it seem. According to him, most individuals do judge their well being through weighing themselves against other people. For this reason, in the event that the average income of a given country increases the expectations of the people also go up. Consequently, the levels of GDP taken alone per individual in a particular nation, does not essentially give a clear reflection of the level of happiness among the citizens. The absence of a direct connection between the levels of GDP per individual in a given country and individual satisfaction seems to challenge the purely economic point of view in support of growth. This raises the question as to the veracity of people having to go through all the turmoil of econ omic restructuring as well as technological change while, the availability of bigger homes and more gadgets are not going to make people happier It has been the contention of other economist economic growth is good and important as people get to see their own earning increasing, and they do not have to worry about comparing themselves with others. Eventually, that state generates a more conducive environment for both social and political advancement in a given country. As pointed out earlier, economic growth does not necessarily have to go hand in hand with environmental degradation; as a matter of fact growth can be a very vital tool in controlling and managing environmental degradation as pointed out by Robert Reich. According to Dinda (2005), contrary to most people beliefs, continues economic growth can be the best means through which environmental degradation can be addressed. This can only be done by developing a mechanism that defines the relationship between income generated and environmental degradation. As Dinda (2005) puts it, when a particular country attains a satisfactorily high living standard, the citizens of such countries attach more importance to environmental facilities around them. To put it more simply, the more people become wealthier, the more time they will have to consider other things as opposed to the poor people who only think about basic survival. The wealthy on the other hand, will have more time to think about being more richer and environmental conditions. Since they do have significant influence, they are capable of influencing the local and national government to look into the issue of environmental improvement. Study shows that, even though during the early stages of economic growth there