How to write a good introduction for a research paper: 2020

Wednesday, August 26, 2020

Monetary Policy Process

Question: Examine about the Monetary Policy Process. Answer: Presentation The four resource classes in Table I are Australian offers, Australian Bonds, Cash rate and International stocks. The principal resource class is the Australian offers. This comprise the organizations recorded on ASX and the profits are the year on year return on these stocks. The following resource class is the Australian Bonds which are the bonds given by the Australian Government. The following resource class is the Australian money rate likewise called the official money rate (OCR). This is the Australian base rate. Banks pay this financing cost when they apply for a new line of credit with a development of 1 day from another bank.(RBA, 2016) The following resource class is the universal stocks which are scrips recorded on trades everywhere throughout the world other than Australia. Utilizing the information from the table which is the 25 year on year return on these benefit classes Arithmetic mean, Geometric Mean and Standard deviation has been determined. A spreadsheet has been utilized to figure the different measures. The table underneath sums up the outcomes. Resource class Australian Shares Australian Bonds Money Rate Universal Stocks Number juggling Mean 15.98571429 11.51429 9.257143 14.88571 Geometric Mean 14.38 10.14 8.32 13.14 Standard Deviation 21.4592035 6.855883 4.332224 22.08374 Number juggling mean of profits is just the normal of profits over a given timeframe. While it is a straightforward and helpful apparatus for ascertaining normal returns the issue emerges when there are negative returns in a given year. All things considered number juggling mean doesnt fundamentally give the best gauge of a hazard return on an advantage. Geometric mean then again is a superior gauge of a hazard return on an advantage. Math mean would will in general exaggerate the development and not give a reasonable gauge of hazard return, it gives a normal exhibition measure over numerous holding periods. Notable in measurements, AM is more touchy to anomalies than is GM and as such GM might be favored in such cases. From the point of view of hazard averseness, AM probably won't be liked. (Yang, Hung, Zhao, 2013)If we think about an advantage with returns of 10%,20% and 6% more than three years, the AM would be 12% while the GM would be 10.62%. Thus we see that AM over all advanta ge classes is more than the geometric mean. Standard deviation is the square foundation of the fluctuation which thus is the distinction between the mean and the genuine return. Subsequently standard deviation is a decent instrument to gauge the unpredictability of an asset.(New York University, 2013) Generally, a steady resource would have less standard deviation contrasted with an unsafe and an unstable resource. AM for Australian offers is generally 16% while the GM is 14.4% and the standard deviation is 21.45 from the Arithmetic Mean. This would demonstrate an exceptionally unpredictable resource. AM for Australian Bonds is 11.5 and the GM is 10.14 and the standard deviation is 6.85 from the mean. This would demonstrate a moderately steady resource. AM for money rate is 9.25 and the GM is 8.32 while the deviation is 4.33 demonstrating that over all benefits this is the most steady. AM for worldwide stocks is 15 while GM is about 13 though the SD is 22 demonstrating this is the most unstable resource. Development of A Portfolio Financial Vs Monetary Policy Monetary arrangement alludes to the administration strategies with respect to consumptions and tac levels through which it screens and controls a countries economy. Summarizing it very well may be portrayed as the structure for charge rates and government consumptions. Through the methods for these the legislature can change(increase or diminish) total interest and level of monetary movement. It can likewise realize changes in reserve funds and speculation designs. At the point when the financial development is moderate, government can utilize the monetary approach to diminish the duty rate along these lines expanding total interest and on the other hand use it to the contrary impact too to hinder the pace of solid monetary development and settle prices.(Caballero, 2013) Then again, Monetary policyis the procedure through which the financial authority of a nation, by and large a national bank controls the flexibly of cash in the economy by its power over loan fees so as to keep up value steadiness and accomplish high monetary development. By controlling the gracefully of cash to the economy the national banks can either instigate expanded request or delayed up an economy developing at a pace quicker than foreseen so as to stop inflationary patterns. The three factors that would decide how touchy an organizations profit are to the business cycle are: Nature of item: The offer of non essential merchandise, for example, show pieces, collectibles will decrease while that of vital things, for example, food supplies and so on would be steady. Working influence: An organization having a low proportion of fixed expenses to factors costs will be increasingly adaptable in changing in accordance with cost slices when contrasted with an organization with high fixed expenses. Obligation value proportion: A firm having more obligation in its capital structure is supposed to be utilized. Obligation despite the fact that diminishes the WACC(Weighted Average Cost of Capital) and builds productivity when the firm is in high development stage, yet it likewise expands the weight of fixed costs. Subsequently having the influence of obligation in a capital structure is a two edged blade as it makes the firm less touchy to recessionary patterns. Valution of Options The estimation of a call alternative operating at a profit Scholes model can be composed as a component of the five factors: S = Current stock cost; for this situation 39 K = Strike cost of the choice; for this situation 35 t = Life to lapse of the choice; for this situation allowed as a half year or year r = Riskless financing cost relating to the life of the choice which is given as 5.3% in the given situation ^2= Variance in the ln(value) of the basic resource; for this situation given as square of 0.3 Estimation of call = S N (d1) - K e-rt N(d2) where d1 = ln(S/K) + (r + ^2/2 ) t/*t^1/2 Note that e-rt is the current worth factor and mirrors the way that the activity cost on the call alternative doesn't need to be paid until lapse. N(d1) and N(d2) are probabilities, assessed by utilizing a combined normalized typical conveyance and the estimations of d1 and d2 got for an option.(Damodran, 2005) Utilizing the qualities on a spreadsheet d1 is gotten as 1.86 and d2 is acquired as 1.66. Utilizing the typical circulation table from the recommended course book then N(d1) and N(d2) is gotten as 0.9686 and 0.9515 separately. Utilizing the recipe at that point estimation of the call is acquired as $8.83. Additionally, estimation of put alternative is given by P=Xe^-rT[1-N(d2)]-S[1-n(d1))] (Damodran, 2005) Placing the qualities in the equation the put alternative valuation is shown up at $1.01. Imprint to Market Settlements The every day mark-to-showcase settlements for each agreement held by the long position has been determined and arranged as follows. The qualities in the subsequent segment got by deducting that days cost with the beginning cost and the complete continues determined by increasing the all out amount with the second section which for this situation is 100 ounces. Day benefit/misfortune per ounce All out continues 0 1197.9 1 1198.7 0.8 80 2 1194.7 - 3.2 - 320 3 1247.9 50 5000 4 1239.1 41.2 4120 5 1239.1 41.2 4120 6 1207.9 10 1000 7 1211.1 13.2 1320 8 1226.1 28.2 2820 9 1230.4 32.5 3250 10 1209.5 11.6 1160 Premise is the distinction between the spot cost and the future cost. For instance, if the spot cost for an ounce of gold is $195 and the future cost for conveyance following 10 days is $198. All things considered the premise is 3 dollars. Assume the following day the spot value diminishes to 193 dollars and the future cost for conveyance gets 195. All things considered the premise decreases to 3 dollars from 2 dollars. In any supporting system there is a hazard that the two speculations used to counterbalance each other wont move a similar way. This opens the speculator to a position wherein he/she can make abundance additions or misfortunes emerging from the changes. This hazard is known as the premise risk.(Ankirchner, Kratz, Kruse, 2013) For instance a speculator fences a two-year bond with acquisition of govt bills. The hazard that the two wont move a similar way is consistently there and structures the establishment for the premise chance. Prospects and choices are money related agreements and both are instances of subordinates as their worth is gotten from that of a basic resource. Future is a case of a money related agreement Futures are a lot of like advances however are a more developed item as in they are adaptable and give the choice of expelling the commitment before the expiry of the agreement. Future agreements are broadly utilized by the banks to fence cash risks.(Meera, 2002) Options are comparable monetary agreements however the central matter wherein they contrast from prospects is that going into a choice agreement gives the purchaser of the choice right yet not the commitment to purchase or sell a benefit. A call choice is for purchase, though a put alternative is for sell. Hazard Adjusted Return Mesaures Sharpe proportion was an apparatus created by William Sharpe and since its initiation has become the most broadly utilized measure for assessing hazard balanced return. It is given by (Return on the Asset-Risk free rate)/Standard deviation.(Pav, 2016) For the given model, Sharpe proportion of the portfolio is determined as (0.12-0.055)/0.33 which is gotten as 0.19 or at the end of the day for each purpose of return the financial specialist is conveying 0.19 units of hazard. Correspondingly, the Sharpe proportion for the market utilizing a similar technique is gotten as 0.1. Thus what Sharpe proportion finds is that the portfolio is givin

Saturday, August 22, 2020

WritePlacer Review - Is It Really Effective?

WritePlacer Review - Is It Really Effective?The WritePlacer review shows how the product can help write-a-thons and other community events. There are several advantages to using the product. For example, you can start writing as soon as you open the package. You won't have to worry about spelling or the size of the letters.Another advantage is that it offers automatic correction of your writing. It will find all the mistakes on your manuscript and correct them for you. With its automatic correction feature, you won't have to spend hours correcting your work. It's going to do it for you.The company also offers a free online version that gives you a great job. You don't need to worry about writing good sentences or paragraphs because you can skip right to the end. You can write a great summary too. When you're done, you can save your work and also your comments.If you don't like WritePlacer, don't feel bad because it is rated as one of the top personal and business writing software on the market. You can download it right away. The software is simple to use and you can even use it to write an article or write an essay with ease.It is especially useful when you need to turn a commercial grade piece of writing into something that you can submit to publishers or write for your readers. People will appreciate your skills in their newsletters that you want to send to them.Writing is time consuming and repetitive. When you use WritePlacer, you can avoid writing in paragraphs, by writing only one letter and then repeating that letter throughout your document. The automatic correction features of WritePlacer help you avoid this.Itis a program that is easy to use. If you use it regularly, you can get use to it without having to follow the instructions. Using it is also cost effective because you only pay for what you use. That means you only pay for the time you're going to use instead of buying software for every draft.As for how the product actually works, it is a sales pitch. You need to pay for the software to get access to the features but it has been proven effective. There are no gimmicks in it. You just have to be disciplined and use it the way it is supposed to be used.

Friday, August 21, 2020

Porters Five Forces Model

Porters Five Forces Model INTRODUCTION Through his model, Porter classifies five main competitive forces that affect any market and all industries. It is these forces that determine how much competition will exist in a market and consequently the profitability and attractiveness of this market for a company. Through sound corporate strategies, a company will aim to shape these forces to its advantage to strengthen the organizations position in the industry.For the purpose of this model, industry attractiveness is the overall profitability potential of the industry. An attractive industry will be one where the combined power of the competitive forces will increase profitability potential. While an unattractive industry will be one where the collective impact of the forces will drive down profitability potential.These forces, termed as the micro environment by Porter, influence how a company serves its target market and whether it is able to turn a profit. Any change in one of the forces might mean that a compa ny has to re-evaluate its environment and realign its business practices and strategies.An attractive market place does not mean that all companies will enjoy similar success levels. Rather, the unique selling propositions, strategies and processes will put one company over the other.Composition of ForcesWithin each industry, the effect of different forces will be different. This is why it becomes imperative to develop this model separately for every industry even if the same company is competing across different markets and industries. As an example, the airline industry has fierce competition among the two producers, Airbus and Boeing. The bargaining power of the buyers, all airlines, is fairly high. On the other hand, there is almost no threat of new entry into the market given high degrees of proprietary knowledge and high investments. There is also no threat of substitutes and the power of suppliers is also generally benign. On the other hand in the film business, there is a hi gh threat of substitutes from various other forms of entertainment. In addition, the power of suppliers (e.g. filmmakers, etc.) is also high as they supply the vital most input for the industry.Whatever the industry, there may be one or two forces that end up driving all strategy formation. It is not always easy to determine which force is the key one. An obvious force may not be the one increasing or decreasing profitability.HistoryIn 1979, Harvard Business School professor Michael E. Porter developed the five forces model. It was his first article for the Harvard Business review titles â€œHow Competitive Forces Shape Strategyâ€. It was later detailed in his book on Competitive strategy. This model aimed to provide a new way to use effective strategy to identify, analyze and manage external factors in an organizationâ€™s environment.Porterâ€™s work has been recognized as extremely important in the field. Despite criticisms regarding its applicability in a much altered world, it re mains one of the most widely used methods of industry analysis.The Five Competitive Forces That Shape Strategy Interview With Michael E. Porter PORTERS FIVE FORCESThe five forces identified by Porter are divided into:Horizontal forces: Threat of substitutes, threat of new entrants, competitive rivalryVertical forces: Bargaining power of buyers and bargaining power of customers1. Competitive RivalryOne important force that Porter describes is the degree of rivalry between existing companies in the market. If there are more companies competing with each other, the resulting competitive pressure will mean that prices, profits and strategy will be driven by it.One company may end up having little or no power in its own industry if there is a variety of quality products are offered in the market in direct competition with it. Customers have the option of simply moving on to a different company easily. Conversely, in the absence of this rivalry, the company may be able to freely set pric es and profit margins without being dictated by what the customer finds attractive.When is competitive rivalry high?Competitive rivalry may be higher when:Similar sized companies operate in one marketThese companies have similar strategiesProducts on offer have similar features and offer the same benefitsGrowth in the industry is slowThere are high barriers to exit or low barriers to entry 2. Threat of new EntrantsThe competitive threat to a companyâ€™s business may not only be from existing players in the market but also from potential new entrants into the market place. If an industry is profitable, or attractive in a long term strategic manner, then it will be attractive to new companies. Unless there are barriers to entry in place, new firms may easily enter the market and change the dynamics of the industry.The particular dynamics of an industry that restrict entry into it are called barriers to entry The most attractive scenario for a new company is when a potential market ha s low barriers to exit but high barriers to entry. The economics of any industry will determine the level of difficulty faced when trying to enter this market.When are barriers for new entrants high?Barriers to entry may stem from things like:patents and proprietary knowledgeaccess to specialized technology or infrastructureeconomies of scale or government driven obstacleshigh initial investment neededhigh switching costs for consumers, loyal consumersdifficulty in accessing raw material and difficulty in accessing distribution channels3. Threat of SubstitutesWithin the framework defined by Porter, substitute products are those that exist in another industry but may be used to fulfill the same need. The more substitutes that exist for a product, the larger the companyâ€™s competitive environment and the lower the potential for profit. An example of this is that for a boxed juice producer, fresh juice, water and soft drinks are all substitutes though they exist in separate categories .A high threat of substitutes will impact a companyâ€™s ability to set prices that it wants. If a substitute is priced lower or fulfills a need better than it may end up attracting consumers towards it and reduce sales for existing companies.When is there a threat from substitutes?The threat of substitutes is affected by factors such as brand loyalty, switching costs, relative prices, as well as trends and fads.4. Bargaining Power of BuyersWhen buyers have the power to affect prices in an industry, it becomes an important factor to consider for a company.When is buyer power high?Buyers tend to have power over an industry if they are important to the company, this may be if the industry is such that buyers either buy in bulk, or can easily switch to another supplier. A limited number of strong buyers may be able to exert significant control over a seller. In addition, if a product is similar to its competitor with little or no differentiation, then there are chances that the company may need to let the supplier dictate terms in order to avoid losing the customer.5. Bargaining Power of SuppliersSuppliers provide the raw material needed to provide a good or service. This means that there is usually a need to maintain strong steady relationships with suppliers. Depending on the industry dynamics, suppliers may be in the position to dictate terms, set prices and determine availability timelines. Powerful suppliers may be able to increase costs without affecting their own sales volume or reduce quantities that they sell. When do suppliers have power?Supplier may enjoy more power if there are less of them. Costs of switching to an alternate are high, or there are no alternates. A supplier may also be the only provider of a certain raw material. This may be the case in instances where a supplier holds a patent or have proprietary knowledge. Because of a lack of alternates, they may be able to withhold quantities or increase prices without losing sales. HOW TO USE TH E MODELThe Porters five forces model is often used as a starting point to evaluate a companyâ€™s position in its industry and to assess its level of competitiveness. Though this framework is generic and applicable to any industry, it is only effective if it is used in a specific context that applies directly to the company undertaking the evaluation.Porter also emphasized the importance of using this model at more basic industry level. If an organization operates in different industries, then it must develop a separate five forces model for each of its industries. Steps To Follow When Performing AnalysisA company may follow three basic steps when performing an industry analysis,Gather information on each forceDuring the first step, the company should gather information about their industry using the five forces as a guide for classifying this information.Analyze results and display in a diagramAfter substantial information has been gathered, a team may sit down and analyze how eac h of the identified factors affect the industry. Every industry will have different factors affecting it differently. This makes it vital to not compare across industries or use another industryâ€™s data.Formulate Strategy based on conclusions The analysis of factors affecting the industry can now be translated into specific strategies to further the interests of the company.Navigating the Model Development: Before, During and AfterIt is beneficial for a company working on a Porters five forces analysis to maintain an analytical frame of mind before the process begins, during the process and after everything has been completed. Some aspects to keep in mind are:BeforeUnderstand the goals of the analysis and expectations from itUnderstand the scope of the analysis and who are the potential beneficiariesAllow open and honest brainstorming session regarding these questions.DuringKeep a focus on the futureDo not focus on what couldâ€™ve been done better in the past, but focus on future i mprovementsAnalyze positives and negativesBe open to new ideas and possibilitiesAfterIdentify lessons learnt and how they can be used in the futureDocument positives and negatives. Identify best practicesUnderstand whether the analysis had the required impactFollow up on implementation plansRecord information from the analysis to be used in future decisionsPorters Five Forces of Analysis: How to Determine the Attractiveness of an Industry Models DOS and DONTSAs with any framework, there are specific ways to use this one successfully. In order to gain any benefits from a Porters five forces analysis it should:Not be used on an individual company but rather in the entire industry. These findings can then be used to devise strategies for the company itself.Be used when there are at least three or more competing firms in the marketConsider the impact of the government on the industryConsider which stage in the lifecycle the industry isConsider the changing nature of industries and mark ets CRITICISMSOver the years, people have challenged underlying principlesthat Porter based his five forces model on. Some of these criticisms have been:Doubtful AssumptionsAcademics such as Stewart Neill, have taken exception to what they call the three dubious assumptions made within the model. These are:The assumption that buyers, competitors and suppliers are separate entities that never interact, never collude and never influence each other directlyThe assumption that structural advantage or the creation of entry barriers is the source of valueThe assumption that there is always low uncertainty which allows participants in a market to always be able to plan ahead and counter competitor actions.The 6th ForceThrough game theory, Adam Brandenburger and Barry Nalebuff of Yale, added a new concept to the Porters five forces model. In the mid 1990s, they proposed the idea of complementary force which may have been termed a 6th force by Andrew Grove, former CEO Intel. These complemen tary forces may be the government or the public.Porter himself countered this addition to the model by the assertion that the government or public are factors that affect the five forces.EXAMPLES IKEA © Flickr | Greg EmmerichThe five forces model was developed by Michael E. Porter to help companies assess the nature of an industryâ€™s competitiveness and develop corporate strategies accordingly. The framework allows a business to identify and analyze the important forces that determine the profitability of an industry.In this article, we will study the Porters five forces model for industry analysis. We will look at 1) introduction to the model, 2) Porters five forces, 3) how to use the model, 4) model dos and donts, 5) criticisms of the model, and 6) example IKEA.INTRODUCTION Through his model, Porter classifies five main competitive forces that affect any market and all industries. It is these forces that determine how much competition will exist in a market and consequently the profitability and attractiveness of this market for a company. Through sound corporate strategies, a company will aim to shape these forces to its advantage to strengthen the organizations position in the industry.For the purpose of this model, industry attractiveness is the overall profitability potential of the industry. An attractive industry will be one where the combined power of the competitive forces will increase profitability potential. While an unattractive industry will be one where the collective impact of the forces will drive down profitability potential.These forces, termed as the micro environment by Porter, influence how a company serves its target market and whether it is able to turn a profit. Any change in one of the forces might mean that a company has to re-evaluate its environment and realign its business practices and strategies.An attractive market place does not mean that all companies will enjoy similar success levels. Rather, the unique selling propositions, strategies and processes will put one company over the other.Composition of ForcesWithin each industry, the effect of different forces will be different. This is why it becomes imperative to develo p this model separately for every industry even if the same company is competing across different markets and industries. As an example, the airline industry has fierce competition among the two producers, Airbus and Boeing. The bargaining power of the buyers, all airlines, is fairly high. On the other hand, there is almost no threat of new entry into the market given high degrees of proprietary knowledge and high investments. There is also no threat of substitutes and the power of suppliers is also generally benign. On the other hand in the film business, there is a high threat of substitutes from various other forms of entertainment. In addition, the power of suppliers (e.g. filmmakers, etc.) is also high as they supply the vital most input for the industry.Whatever the industry, there may be one or two forces that end up driving all strategy formation. It is not always easy to determine which force is the key one. An obvious force may not be the one increasing or decreasing profi tability.HistoryIn 1979, Harvard Business School professor Michael E. Porter developed the five forces model. It was his first article for the Harvard Business review titles â€œHow Competitive Forces Shape Strategyâ€. It was later detailed in his book on Competitive strategy. This model aimed to provide a new way to use effective strategy to identify, analyze and manage external factors in an organizationâ€™s environment.Porterâ€™s work has been recognized as extremely important in the field. Despite criticisms regarding its applicability in a much altered world, it remains one of the most widely used methods of industry analysis.The Five Competitive Forces That Shape Strategy Interview With Michael E. Porter PORTERS FIVE FORCESThe five forces identified by Porter are divided into:Horizontal forces: Threat of substitutes, threat of new entrants, competitive rivalryVertical forces: Bargaining power of buyers and bargaining power of customers1. Competitive RivalryOne important force that Porter describes is the degree of rivalry between existing companies in the market. If there are more companies competing with each other, the resulting competitive pressure will mean that prices, profits and strategy will be driven by it.One company may end up having little or no power in its own industry if there is a variety of quality products are offered in the market in direct competition with it. Customers have the option of simply moving on to a different company easily. Conversely, in the absence of this rivalry, the company may be able to freely set prices and profit margins without being dictated by what the customer finds attractive.When is competitive rivalry high?Competitive rivalry may be higher when:Similar sized companies operate in one marketThese companies have similar strategiesProducts on offer have similar features and offer the same benefitsGrowth in the industry is slowThere are high barriers to exit or low barriers to entry 2. Threat of new EntrantsTh e competitive threat to a companyâ€™s business may not only be from existing players in the market but also from potential new entrants into the market place. If an industry is profitable, or attractive in a long term strategic manner, then it will be attractive to new companies. Unless there are barriers to entry in place, new firms may easily enter the market and change the dynamics of the industry.The particular dynamics of an industry that restrict entry into it are called barriers to entry The most attractive scenario for a new company is when a potential market has low barriers to exit but high barriers to entry. The economics of any industry will determine the level of difficulty faced when trying to enter this market.When are barriers for new entrants high?Barriers to entry may stem from things like:patents and proprietary knowledgeaccess to specialized technology or infrastructureeconomies of scale or government driven obstacleshigh initial investment neededhigh switching c osts for consumers, loyal consumersdifficulty in accessing raw material and difficulty in accessing distribution channels3. Threat of SubstitutesWithin the framework defined by Porter, substitute products are those that exist in another industry but may be used to fulfill the same need. The more substitutes that exist for a product, the larger the companyâ€™s competitive environment and the lower the potential for profit. An example of this is that for a boxed juice producer, fresh juice, water and soft drinks are all substitutes though they exist in separate categories.A high threat of substitutes will impact a companyâ€™s ability to set prices that it wants. If a substitute is priced lower or fulfills a need better than it may end up attracting consumers towards it and reduce sales for existing companies.When is there a threat from substitutes?The threat of substitutes is affected by factors such as brand loyalty, switching costs, relative prices, as well as trends and fads.4. Bar gaining Power of BuyersWhen buyers have the power to affect prices in an industry, it becomes an important factor to consider for a company.When is buyer power high?Buyers tend to have power over an industry if they are important to the company, this may be if the industry is such that buyers either buy in bulk, or can easily switch to another supplier. A limited number of strong buyers may be able to exert significant control over a seller. In addition, if a product is similar to its competitor with little or no differentiation, then there are chances that the company may need to let the supplier dictate terms in order to avoid losing the customer.5. Bargaining Power of SuppliersSuppliers provide the raw material needed to provide a good or service. This means that there is usually a need to maintain strong steady relationships with suppliers. Depending on the industry dynamics, suppliers may be in the position to dictate terms, set prices and determine availability timelines. Powe rful suppliers may be able to increase costs without affecting their own sales volume or reduce quantities that they sell. When do suppliers have power?Supplier may enjoy more power if there are less of them. Costs of switching to an alternate are high, or there are no alternates. A supplier may also be the only provider of a certain raw material. This may be the case in instances where a supplier holds a patent or have proprietary knowledge. Because of a lack of alternates, they may be able to withhold quantities or increase prices without losing sales. HOW TO USE THE MODELThe Porters five forces model is often used as a starting point to evaluate a companyâ€™s position in its industry and to assess its level of competitiveness. Though this framework is generic and applicable to any industry, it is only effective if it is used in a specific context that applies directly to the company undertaking the evaluation.Porter also emphasized the importance of using this model at more ba sic industry level. If an organization operates in different industries, then it must develop a separate five forces model for each of its industries. Steps To Follow When Performing AnalysisA company may follow three basic steps when performing an industry analysis,Gather information on each forceDuring the first step, the company should gather information about their industry using the five forces as a guide for classifying this information.Analyze results and display in a diagramAfter substantial information has been gathered, a team may sit down and analyze how each of the identified factors affect the industry. Every industry will have different factors affecting it differently. This makes it vital to not compare across industries or use another industryâ€™s data.Formulate Strategy based on conclusions The analysis of factors affecting the industry can now be translated into specific strategies to further the interests of the company.Navigating the Model Development: Before, D uring and AfterIt is beneficial for a company working on a Porters five forces analysis to maintain an analytical frame of mind before the process begins, during the process and after everything has been completed. Some aspects to keep in mind are:BeforeUnderstand the goals of the analysis and expectations from itUnderstand the scope of the analysis and who are the potential beneficiariesAllow open and honest brainstorming session regarding these questions.DuringKeep a focus on the futureDo not focus on what couldâ€™ve been done better in the past, but focus on future improvementsAnalyze positives and negativesBe open to new ideas and possibilitiesAfterIdentify lessons learnt and how they can be used in the futureDocument positives and negatives. Identify best practicesUnderstand whether the analysis had the required impactFollow up on implementation plansRecord information from the analysis to be used in future decisionsPorters Five Forces of Analysis: How to Determine the Attracti veness of an Industry Models DOS and DONTSAs with any framework, there are specific ways to use this one successfully. In order to gain any benefits from a Porters five forces analysis it should:Not be used on an individual company but rather in the entire industry. These findings can then be used to devise strategies for the company itself.Be used when there are at least three or more competing firms in the marketConsider the impact of the government on the industryConsider which stage in the lifecycle the industry isConsider the changing nature of industries and markets CRITICISMSOver the years, people have challenged underlying principlesthat Porter based his five forces model on. Some of these criticisms have been:Doubtful AssumptionsAcademics such as Stewart Neill, have taken exception to what they call the three dubious assumptions made within the model. These are:The assumption that buyers, competitors and suppliers are separate entities that never interact, never collude a nd never influence each other directlyThe assumption that structural advantage or the creation of entry barriers is the source of valueThe assumption that there is always low uncertainty which allows participants in a market to always be able to plan ahead and counter competitor actions.The 6th ForceThrough game theory, Adam Brandenburger and Barry Nalebuff of Yale, added a new concept to the Porters five forces model. In the mid 1990s, they proposed the idea of complementary force which may have been termed a 6th force by Andrew Grove, former CEO Intel. These complementary forces may be the government or the public.Porter himself countered this addition to the model by the assertion that the government or public are factors that affect the five forces.EXAMPLES IKEA © Wikimedia commonsIKEA is a Swedish company that sells furniture and home accessories. The furniture is modern and ready to assemble. As of 2008, it was the biggest retailer of furniture in the world. It was created in 1943 by 17 year old Ingvar Kamprad. In addition to simplistic furniture design and eco friendly solutions, the company is known to control costs, focus on operational details and efficiency and a continuous focus on new product development. This strategy has allowed the company to maintain its low costs over the years. At present, there are 349 IKEA stores in 43 countries.Porters Five Forces Analysis for IKEACompetitive RivalryThere is significant competition in the discount furniture market with companies like Ashley Furniture Home Stores, Home Depot or other local players. But IKEA has managed to create a clear differentiated position in the market and remains the global market leader in its industry.Threat of new EntrantsThere is little threat from new entrants. T he requisite expertise is difficult to replicate and financial investments are significantly high. In addition the market is saturated enough with the existing players that there is little attraction for a competitor large enough to threaten IKEAâ€™s position.Threat of SubstitutesThere is little threat of substitutes as the target market for IKEA is unlikely to switch to higher end more classic styles of furniture. There are not many alternates that offer the breadth of options that are available at IKEA.Bargaining Power of Buyers There is enough competition in the market to afford some power to the buyers in the industry. Since IKEA has built up its USP with its competitive prices, customers can choose to switch if there is any increase in the prices. There is little switching cost, though loyalty may be a factor that prevents a switch.Bargaining Power of SuppliersSuppliers do not have substantial bargaining power as there many options available to IKEA around the world. There are numerous factories that have the requisite expertise to partner with IKEA. Despite this IKEA attempts to firm long term strategic partnerships with suppliers which benefits both supplier and the firm.Porters Five Forces Model Image credit: Flickr | Greg Emmerich under Attribution-ShareAlike 2.0 Generic, Wikimedia commons under public domain.

Porters Five Forces Model

Sunday, May 24, 2020

Learn the Cartesian Plane Distance Formula

Thursday, May 14, 2020

Tips Help You Deal With Unwanted Parenting Advice

As soon as you become a mother everyone around you starts acting like a parenting expert or childcare specialist. Your parents, in-laws, friends, cousins, colleagues, neighbors and even random people you meet in supermarkets or bus journeys offer you generous doses of advice on what you should and should not do as a parent. Unwanted and unsolicited advice from strangers can be dismissed easily with a passive smile or an Ã¢â‚¬Å"um, thanksÃ¢â‚¬ . But things can get hard when harmless, yet annoying parenting advice comes from your family members or people you know personally. Here are a few tips to help you deal with unwanted parenting advice: 1. DonÃ¢â‚¬â„¢t dismiss every advice Parenting is a hard task in itself and it can become harder when you have a bunch of people around you giving directions and instructions. The danger of keeping yourself exposed to a plethora of advice is that you start losing perspective after a while. You lose the ability to identify good advice from bad. There can be people who are genuinely trying to help you out because they have undergone what you are going through right now. That your colleague asked you to stop succumbing to toddler tantrums may only mean she too has a tantrum throwing kid. The primary rule here is not to dismiss every advice that comes your way. Keep your head calm and try to identify if an advice is stemming from genuine concern or a need to sound knowledgeable. 2. Listen before you speak It is quite natural to feel defensive when peopleShow MoreRelatedDefinition of Adolescent Development14194 Words Ã‚ |Ã‚ 57 Pagessignificant role in facilitating the growth and development of adolescents. Hence it is critical for schools and teachers to understand the various physical, social and psychosocial changes that occur in an individual during this period and ways to deal and help him/her navigate successfully through this stage. Some of the important adolescence problems and worries are briefly described underneath: 1. Becoming Independent: J.A.Hadfield (1962) is of the view, Ã¢â‚¬Å"when we speak of adolescent as growingRead MoreDefinition of Adolescent Development14200 Words Ã‚ |Ã‚ 57 Pagessignificant role in facilitating the growth and development of adolescents. Hence it is critical for schools and teachers to understand the various physical, social and psychosocial changes that occur in an individual during this period and ways to deal and help him/her navigate successfully through this stage. Some of the important adolescence problems and worries are briefly described underneath: 1. Becoming Independent: J.A.Hadfield (1962) is of the view, Ã¢â‚¬Å"when we speak of adolescent as growingRead MoreThesis, Term Paper, Essay, Research Paper21993 Words Ã‚ |Ã‚ 88 Pagesdevelopment is currently under way. This study is conducted by Birth to Twenty, a non-government research organisation. One area of focus of this study is the emergence of sexual and lifestyle risk factors during adolescence, particularly risk behaviour, unwanted pregnancy, exposure to sexually transmitted infection etc (Birth to Twenty, 2005). The Reproductive Health Research Unit (RHRU) is another organisation that plays a leading role in adolescent reproductive health studies and development of interventionRead MoreImpact Of Marketing On Marketing Management9107 Words Ã‚ |Ã‚ 37 PagesInformation technology growth has impacted the way the CIO of a company contributes to the growth of the company and participates in crucial decision making process. An attempt has been made in this report to study and analyze how the CIO and his team can help the company to gain insight into the customerÃ¢â‚¬â„¢s mind and make use of the available data to promote a product or services. In the technically advanced world which methods a CIO can embark to reduce the cost of promoting the product and increasing theRead MoreCase Study148348 Words Ã‚ |Ã‚ 594 Pageswhich you can search, bookmark, annotate and highlight as you please Ã¢â‚¬ ¢ Self-assessment questions that identify your strengths before recommending a personalised study plan that points you to the resources which can help you achieve a better grade Ã¢â‚¬ ¢ Key concept audio summaries that you can download or listen to online Ã¢â‚¬ ¢ Video cases that show real managers talking about their own organisations Ã¢â‚¬ ¢ Revision flashcards to help you prepare for your exams Ã¢â‚¬ ¢ A multi-lingual online glossary to help explainRead MoreStephen P. Robbins Timothy A. Judge (2011) Organizational Behaviour 15th Edition New Jersey: Prentice Hal l393164 Words Ã‚ |Ã‚ 1573 Pagesmechanical, photocopying, recording, or likewise. To obtain permission(s) to use material from this work, please submit a written request to Pearson Education, Inc., Permissions Department, One Lake Street, Upper Saddle River, New Jersey 07458, or you may fax your request to 201-236-3290. Many of the designations by manufacturers and sellers to distinguish their products are claimed as trademarks. Where those designations appear in this book, and the publisher was aware of a trademark claim, theRead MoreBackground Inditex, One of the Worlds Largest Fashion Distributors, Has Eight Major Sales Formats - Zara, Pull and Bear, Massimo Dutti, Bershka, Stradivarius, Oysho, Zara Home Y Kiddys Class- with 3.147 Stores in 70100262 Words Ã‚ |Ã‚ 402 Pagesof support throughout the process. Thank you Thomas; for all your encouragement, your insightful advice, your patience, kindness and all that you have taught me during these years. Thank you also to HÃƒ ¥kan R odhe, my second supervisor, who has not only provided valuable input related to my research and writing, but who has also been a rich source of advice and inspiration when it comes to many other aspects in life ranging from teaching to parenting. Thank you HÃƒ ¥kan; for your support and for always having

Wednesday, May 6, 2020

Ifacs Evolution Model of Management Accounting - 2827 Words

Introduction In 1989, the understanding of the scope and purposes of management accounting and the concepts which underpinned it was summarized by the International Federation of Accountants (IFAC) in a statement. Later on in 1998, the statement was revised and released as Management Accounting Concepts Ã¢â‚¬â€œ Number 1 in the series of International Management Accounting Practice Statements. The purpose of this article is to explain the IFACÃ¢â‚¬â„¢s perspective of the change in management accounting. This can be justified by the author when he surveyed the stages of evolution of the management accounting practices in the food and drinks companies in United Kingdom and used it to further develop and apply the IFAC-based model. Since the 1980Ã¢â‚¬â„¢sÃ¢â‚¬ ¦show more contentÃ¢â‚¬ ¦According to Horngren et al. (2005), management control system is an integrated technique for collecting and using information to motivate employee behaviour and to evaluate performance. The information provided are used by most of the managers to plan the way they want people to perform, then they implement procedures to determine whether actual performance complies with these plans. The information provided are very important to the organization because the information is used as a guide in running the operation and the actual performance of the operation should be measured at the end of year to match with the planning made by the organization. It is a very beneficial way for them to detect when there is underperforming occurred and then appropriate action will be taken. After that, IFACÃ¢â‚¬Ëœs attention was focused on the reduction of waste in resources used in business processes, through the use of process analysis and cost management technologies by 1985. In this stage, the rapid technological development such as the use of robotics and computer- controlled processes improved the quality of production and also greatly reduce costs. The use of the computers and information technology (IT) is to improve the efficiency and competitiveness of production in the business. The last stage of evolution of the management accounting identified by IFAC is the generation or creation of value through the effective use of resources, which examine the drivers of customerShow MoreRelatedCons and Pros of Internet16245 Words Ã‚ |Ã‚ 65 PagesAccounting and Business Research, International Accounting Policy Forum. pp. 5-27. 2006 5 International Financial Reporting Standards (IFRS): pros and cons for investors Ray Ball* AbstractÃ¢â‚¬â€Accounting in shaped by economic and political forces. It follows that increased worldwide integration of both markets and politics (driven by reductions in communications and information processing costs) makes increased integration of financial reporting standards and practice almost inevitable. But most

Tuesday, May 5, 2020

Midwifery Rheumatic Heart Disease

Question: Analysis of the information and application to midwifery practice or broader issues. Answer: Definition: Rheumatic heart disease is one of the most common heart diseases observed in the children especially noticed in the developing countries. This disease is associated with rheumatic fever. It is an acute or chronic heart disorder which might be the result of valve damage causing rheumatic fever. The Rheumatic fever is an inflammatory condition that affects the connective tissues linked with the heart, skin and brain. The symptoms of this disease are excessive palpitations of the heart, chest pain, swollen stomach, ankles, or wrists and shortness of breath (Marijon et al., 2012). Causes of the disease: According to Marijon et al. (2012), the cause of rheumatic fever is a group of microorganisms namely group A Streptococcus. This bacterium causes the body to attack its own tissues. Such a reaction causes inflammation throughout the body. The bacteria also cause inflammation in the heart and trigger the auto-immune responses. The acute stage consists of pancarditis which involves inflammation of the pericardium, myocardium, and the epicardium. The chronic stage is manifested by valvular fibrosis. This results in the stenosis or insufficiency. The main cause of the rheumatic heart disease is the body generates antibodies to struggle with the microbe, but in its place, the antibodies hit dissimilar target i.e. the bodys own tissues. The antibodies commence with the joints and frequently shift on to the heart and adjacent tissues.Over time, there is progressive damage (rheumatic heart disease, RHD) that may lead to heart failure, stroke, infection of the valves (infective endocarditis), and death (Irlamet al. 2013) Strategies used: The prevention strategies involved in the nursing profession related to the infection may be continued at a numeral of diverse levels. Primordial and primary prevention aims to end the disease happening in the first set, while the objective of the secondary and tertiary prevention is to edge the progression and decrease the consequences of recognized disease (Singh et al., 2012). Primary preventions The primordial prevention aims to develop risk factors related to the disease in the pool. This involves the prevention of GAS infections by implementing activities and measures that relate to the environmental, social, economic and behavioral conditions that elevate the risk of the infection (Irlam et al. 2013). Secondary preventions Secondary prophylaxis with BPG is recommended for all people with a history of ARF or RHD. Four-weekly BPG is currently the treatment of choice, except in patients considered to be at high risk, for whom three weekly administration is recommended. The benefits of three-weekly BPG injections are offset. Three to four weekly intramuscular injections of benzathine penicillin is the treatment of choice. Oral antibiotics may be more convenient but carry higher rates of relapse by the difficulties of achieving good adherence, even to the standard four-weekly regimen (Irlamet al. 2013). Tertiary prevention The intervention in human beings with Rheumatic Heart Disease to decrease symptoms and disability, and avoid premature death. The tertiary level surgical intervention for one patient is equivalent to the annual running costs for a national RHD control program in Pacific countries with small populations ((Singh et al., 2012). References: Irlam, J., Mayosi, B. M., Engel, M., Gaziano, T. A. (2013). Primary Prevention of Acute Rheumatic Fever and Rheumatic Heart Disease With Penicillin in South African Children With Pharyngitis A Cost-Effectiveness Analysis.Circulation: Cardiovascular Quality and Outcomes,6(3), 343-351. Marijon, E., Mirabel, M., Celermajer, D. S., Jouven, X. (2012). Rheumatic heart disease.The Lancet,379(9819), 953-964. Marijon, E., Mirabel, M., Celermajer, D. S., Jouven, X. (2012). Rheumatic heart disease.The Lancet,379(9819), 953-964. Singh, J. A., Furst, D. E., Bharat, A., Curtis, J. R., Kavanaugh, A. F., Kremer, J. M., ... Bridges, S. L. (2012). 2012 Update of the 2008 American College of Rheumatology recommendations for the use of diseaseÃ‚ modifying antirheumatic drugs and biologic agents in the treatment of rheumatoid arthritis.Arthritis care research,64(5), 625-639.

Sunday, April 5, 2020

Medical Marijuana Essays (1342 words) - Herbalism, Medicinal Plants

Medical Marijuana One of the most controversial issues in the United States is over medical marijuana. Many experiments test the validity of the drug as a medicine, and results of these experiments receive much praise but also some critique. The DEA and the National Organization for the Reform of Marijuana Laws (NORML) are battling over the issue. The underlying matter that cannot be ignored is that marijuana proves to be a useful medication for many patients, especially those with wasting diseases such as AIDS and cancer. In 1996 California passed Proposition 215, which allowed the use of medical marijuana (4444). Since then, six other states have made medical marijuana legal; Alaska, Arizona, Hawaii, Maine, Oregon, and Washington. Santa Cruz in California has gone even further, allowing the medical use of marijuana with a doctors note certifying that the patient has a condition for which marijuana is considered helpful, including AIDS, cancer, multiple sclerosis, glaucoma, anorexia, chronic pain, arthritis, and spastic diseases (22222). Santa Cruz law allows growing marijuana so it may be sold for the cost of production. This way, medical users do not have to resort to buying at street prices. The government made it a requirement that all medical studies on marijuana be paid for by scarce grant money from the National Institute of Health (NIH). In recent years, scientists have tried to persuade the NIH to grant them money for medical studies on marijuana, only to be turned down. Only three studies have been approved by the NIH. On May 22, 1999 the Clinton Administration loosened that restriction, allowing researchers to buy Government-grown marijuana for their research, as long as they can fund themselves. Chuck Blanchard, who is the chief counsel for McCaffrey (director of the Office of National Drug Control Policy) says, Before, the problem was if you wanted marijuana, you had to not only show that it was high-quality research, you had to show that it was more important than other competing applications for NIH funding. Now, as long as you are willing to show that it is high-quality research and also provide your own funding, you can have access to medical marijuana (666 66). The decision of the Clinton Administration came two months after a government-sponsored study concluded that the active ingredients in marijuana, called cannabinoids, appeared useful for treating pain, nausea, and severe weight loss in AIDS patients (666666). No evidence of marijuana being a gateway drug was found. The study also came up with some surprising results. It found that treating glaucoma through marijuana was not as useful as we thought. The drug does reduce eye pressure, but the effects are short-lived. The same study found that marijuana was effective in relieving muscle spasms due to multiple sclerosis (888888). At the 13th International AIDS Conference on July 13, 2000, Dr. Donald Abrams of the University of California released the results of the $1 million study of marijuana on AIDS patients. Abrams concern was to determine whether the chemical components of marijuana in any way interfered with the bodys ability to break down components of protease inhibitors. Protease inhibitors are relatively new antiviral drugs that help HIV patients retain a healthy immune system. Abram found that there was no interference between marijuana and the protease inhibitors in any of the 62 patients. Also, Abrams experiment found that marijuana increased the appetite of the HIV patients. The patients who smoked marijuana (three times a day for 21 days) gained an average of 7.7 pounds, while patients who took Marinol (pill containing active ingredients of marijuana including THC) gained an average of 7 pounds. After the experiment, Dr. Abrams said, Its exciting. Its historic. It confirms that all the states t hat have allowed patients to use medical marijuana have not made a serious mistake. SABIN Other studies have found that marijuana indeed has medicinal value, as well as some risk. The US National Institutes of Health and an affiliate of the National Academy of Sciences have concluded that the active ingredients in marijuana can ease the pain, nausea, and vomiting of cancer and AIDS. It also is prescribed for certain glaucoma patients (555555). The NIH, the Center for Medicinal Cannabis Research, and San Mateo County will all be sponsoring future

Sunday, March 8, 2020

Second Generation Immigrant

Second Generation Immigrant Introduction The socio-political and economic plights of the immigrants have been a subject of social research for a long time; the immigrants are considered the Ã¢â‚¬Å"lowestÃ¢â‚¬ cadre in the social stratum in the United States. Their living conditions reveal an unprecedented poverty. This paper seeks to explore the plight of second generation immigrants as compared to the first generation, and to highlight some of the factors that are contributing to the difference in the social well being between the first generation immigrants and the second generation immigrants, in other words, between parents and their children, who seem to be enjoying a relatively Ã¢â‚¬Å"higherÃ¢â‚¬ position in the society. Such a tendency has been attributed to several factors. According to the US Census Bureau Data (2009), it was realised that the second generation immigrants enjoy more privileges in terms of education and health. They earn more and are better educated as compared to their foreign-born counterparts, which highlights the fact that life conditions have increased from the first to the second order of immigrants.Advertising We will write a custom essay sample on Second Generation Immigrant specifically for you for only $16.05 $11/page Learn More Immigration policy American Immigration Policy, which sets laws and guidelines used for regulatory purposes, in my opinion, is the strongest factor explaining the socio-economic difference of the second generation immigrants. The level of achievement of the second generation immigrants can be attributed to the immigration policies. The American immigration policy stresses out the fact that anyone who is born on the American territory automatically becomes a citizen of the US; the US citizenship comes with numerous other benefits from the government as opposed to non citizens. This scenario would obviously work for the benefit of the child since he would be entitled to a lot of privileges as opposed t o the parents who are not original citizens of the US. Social research shows that the Latino second class citizens have the highest enrolment rates in colleges and high school, which affirms the fact that the set policies play a key role. In the acquisition of their citizenship, the Latinos have continued to excel in their undertaking. According to statistics, it is projected that by 2017, there would have been plenty of multiracial Latinos in every key government position as compared to their present occupation of government positions. Cultural assimilation A conflict of cultures is predominant in the lives of the second generation population. The rate at which they adapt and stabilize themselves within the two different cultures attributes immensely to their relatively high level of success. Those who are able to freely blend and adapt to both cultures are more settled and are considered to be more successful as compared to those who take a lot of time to balance between the two c ultures. Most second generation children are multilingual. Nonetheless, they are subjected to humongous racism and segregation in the society as well, which means that these children become much more sensitive to various social phenomena; this sensitivity leads to an increased self motivation and awareness amongst the second generation, which in turn inflames their desire to achieve success against all odds confronting them. Conclusion The paper has exclusively explored some of the core reasons for a relatively high success of the second generation immigrants in comparison with their parents; it has established why the two mentioned factors have led to high achievement rates in the second generation immigrants and the social issues defining their achievements.Advertising Looking for essay on cultural studies? Let's see if we can help you! Get your first paper with 15% OFF Learn More

Friday, February 21, 2020

Strategic Management and Strategic Competitiveness Essay - 10

Strategic Management and Strategic Competitiveness - Essay Example Globalization is a process of increasing proportion of social, economic and cultural activities across the national borders. There were positive and negative impacts of globalization of Coca-Cola Company. Marketing strategies, technology and product differentiation are some of the factors that supported the rapid growth and development of the company globally. Under marketing strategies, the company used popular catchy jingles, and advertising slogans, which had a great impact to the minds and hearts of the people worldwide (Lopez, 2012). The slogans were meant to influence the consumers in remembering the product. The company also customized the product in order to meet needs of the sole markets. Coca-Cola Company also exercised Packaging differentiation, which also had a great impact into various market segments. The impacts of globalization of Coca-Cola Company also had a negative impact in some countries globally. For example, in India, the problems occurred after the company started to exploit recourses and labor in the country. The lands were to be cleared for the establishment of the factories where a number of people got displaced. The agricultural workers were left without a source of income after their lands grabbed by Coca-Cola Company. Many of the farmers committed suicide because they lacked alternatives of earning a living (Rao & Sivaramakrishna, 2008). After the establishment of the factories, the nightmare did not end because the residents were still hired to work in dangerous assembly lines, which caused physical pain and psychological damage as well. The company did not consider age or gender, but hired anybody. Child labors existed, meaning the some of the children did not attend school, which can lead the future generation of India to remain uneducated, hence low chances of stabilizing India. Some of technological factors that have positive impacts to the company include; efficiency of corporations marketing, advertising and

Wednesday, February 5, 2020

Time Travel Essay Example | Topics and Well Written Essays - 2500 words

Time Travel - Essay Example And having thought what to do, we can only do it now: while the time for action is future we can only await it, and once it is past it is too late. When it comes to time travel, the perception of difference somewhat diminishes, according to various scientists theories presented in various ways we conclude that most of them agree with the notion that in order to travel back in time one has to travel faster than the speed of light. Only in such condition one can travel in time. Along with the speed of light, there are other three factors that are considered for a person in order to travel. Those factors or four elements on which time travel is based are considered at the very core of science fiction, which are: Foote has his own unique perception according to which traveling whether it be the future or the past is reasonable to justify and can be universally accepted by the judgment that a person is always involved in traveling all the time, every minute and at every second and particularly in his sleep because as we sleep our consciousness takes a several hour-long leap into the future. It is no wonder that this scenario has a respectable, if dateable, past in the literature of science and fiction. But nothing, nothing except dream and memory, stands in relation to travel to the past as sleep does to travel to the future. Travel to the past takes all customary notions of cause and effect, as Foote believes in the laws of thermodynamics. (Foote, 1991, p. 9) which suggests, "heat is a form of energy that is in motion". Let us examine this quotation what Foote has said. Heat is a form of energy and so is the man. A living energy in the form of meat and flesh. A man if moves in motion obviously generates and radiates energy and if a man travels faster than the speed of a light it is for sure that he would wake up in an environment which is quite old and ancient for him. Faster than light travel No doubt Foote has related human capabilities with those of the speed of light. Here is the theory presented by Foote based upon FTL travel first: it is true that the physicists of the tribe have devised a mathematical fiction called the tachyon, which, if it exists, must travel faster than light. Greatly simplified, the logic runs like this: in the universe we observe, we postulate the existence of tardyons, particles which must travel more slowly than light, and luminons, which always travel at precisely the speed of light. The more energy one puts behind a tardyon, the faster it travels and the heavier it gets; but as one approaches the speed of light, vast increases in energy are required to accomplish minuscule increases in speed. Only an infinite amount of energy which is not available to us in this universe will suffice to bring a tardyon to the speed of light". (Foote, 1991, p. 9) There is indeed an asymmetry in respect of past and future in the way in which we describe events when we are considering them as standing in causal relations to one another; Macbeath explains this as it reflects an objective asymmetry in nature and thinks that this asymmetry would reveal itself to us even if we were not agents but mere observers. It is indeed true, that our concept of cause is bound up with our concept of intentional action: if an

Tuesday, January 28, 2020

The idea of play therapy

The idea of play therapy We are never more fully alive, more completely ourselves or more deeply engrossed in anything than when we are playing. -Charles Schaefer Play is the primary way that children learn about the world, understand how different things work, express their thoughts and feelings, develop their physical skills, develop their mental skills, and develop effective social skills and bonds. As children grow, their use of language becomes more sophisticated, but throughout childhood, they usually express much more of themselves in their play. We can understand children better if we understand their play. Rather than engaging in verbal communication, we often learn more about their thoughts, feelings, motivations, and struggles by watching children play. Children more effectively communicate their thoughts and feelings through play than they do through verbal communication. As the child plays, the therapist begins to recognize themes and patterns or ways of using the materials that are important to the child. Over time, the clinician helps the child begin to make meaning out of the play. The Association for Play Therapy (APT) defines play therapy as the systematic use of a theoretical model to establish an interpersonal process wherein trained play therapists use the therapeutic powers of play to help clients prevent or resolve psychosocial difficulties and achieve optimal growth and development (www.a4pt.org). Although the idea of play therapy was introduced over 80 years ago, this therapeutic approach has only begun to experience major growth and development within the last 20 years and is still considered to be relatively new in modern therapy practices. Within the past 10 years, play therapy has become more recognized as an effective intervention to reduce challenging behaviors associated with social, emotional, behavioral, and learning difficulties in adults, children and adolescents. While researching this approach, I found it increasingly difficult to find information relative to the proven clinical practice of play therapy as most of the information pertainin g to play therapy still focuses widely on reliability and studies to prove that it is even an effective practice. Because play is so familiar to children, it is a zone of comfort that permits counselors to approach clients in a nonthreatening environment. When children play, they feel safe. They dont respond to simply talking and listening to an adult conversation. Play Therapists use play to help children express feelings about many issues. Children can use play to address feelings about loss and divorce. Children who have been victims of abuse or have experienced a trauma can also benefit. Even a child who is having trouble with peer relations or conduct in school can benefit from play. Children often express their feelings behaviorally and this can be misdiagnosed as ADD/ADHD resulting in these children being medicated unnecessarily. Effects of trauma, loss, and divorce can mimic the symptoms of ADD/ADHD. Instead of using medication as the first option of treatment, children and their therapists can utilize play therapy to work on those feelings. The main goal of play therapy is to eliminate behavioral and emotional difficulties that prohibit a child to function normally, especially in regards to improved communication and understanding between the child and his parents, family, and peers. By using play therapy techniques, the therapist can allow a child or adult to become more aware of their emotions and eliminate any negative behavior that may be a direct result of their emotional and behavioral difficulties. Less obvious goals of play therapy include improved verbal expression, ability for self-observation, improved impulse control, more adaptive ways of coping with anxiety and frustration, and improved capacity to trust and to relate to others. Although play therapy has been proven to be effective for children with various kinds of disorders, it is not as helpful for certain types disorders or illnesses, such as children with the most severe degree of autism and schizophrenia (Landreth, 2002). These two types of children live so exclusively in their own world that t hey cut off interaction with the outside world completely. Because they lack the ability and/or willingness to interact with people and objects, I believe that play therapy might not be the best therapeutic approach for these children. Play Therapy involves the use of role playing, toys, blocks, dolls, puppets, and games to help the child recognize, identify, and verbalize feelings and to communicate what has happened to them and how they feel about these events in their lives. Often, a child will allow a doll or puppet to say things that the child does not feel they are free to tell to anyone. Skilled therapists also use drawing and art work to allow feelings to flow and become expressed. The therapist observes how the child uses play materials and identifies themes or patterns to understand the childs problems. Play therapy is particularly effective with children who cannot, or do not want to talk about their problems. Through a combination of talk and play the child has an opportunity to better understand and manage their conflicts, feelings, and behavior. Sand play therapy is one form of play therapy which allows greater exploration of deep emotional issues. Sand play therapy is suitable for children and adults and allows them to reach a deeper insight and reconciliation of a range of issues in their lives such as internal conflicts that manifest as anxiety and depression, as well as penetrating the depths of personality to experience the self directly. Through a safe and supportive process, clients place miniature figurines in a small sand box to express confusing feelings and inner experiences. This creates a visual representation of the unconscious and reveals concerns that are inaccessible any other way. As materials contained in the unconscious emerge visually and symbolically, it is integrated into a persons sense of self and can be activated to elicit behavioral change. Sand play therapy is an expressive and creative way of working which does not rely on traditional talk therapy. Two major approaches of play therapy are Non-directive (Child-Centered) play therapy and Directive (Cognitive Behavioral Model) play therapy. A skilled practitioner will adopt a mix of both approaches according to each individual child and their circumstances. In non-directive play therapy, the therapist remains supportive, but non-intrusive, and responsibility and direction are left to the child, which emphasizes empowering the client, self-awareness, decision-making, and acceptance of the clients self. In directive play therapy, the therapist aquires responsibility for guidance and interpretation of the therapy by taking an active role in the play and structuring the session for assessment, diagnostic, and treatment purposes. One key concern of non-directive techniques is that young children may not necessarily have the cognitive skills and emotional capacity to repair and master traumatic experiences on their own. Upon researching the information that I found on the different ways to apply play therapy to therapeutic sessions, I personally found directive play therapy to be the most efficient. I like the idea of having more control over sessions and getting the information I need to successfully identify problems and issues for the child. Though both practices use similar ways of play and creative expression for the child, in my opinion directive therapy seems to be the best approach for my own personal counseling style. One issue that comes up most often in regards to the boundaries of play therapy is hugging and/or physical contact. In any therapeutic relationship, it is important for the client to realize that the therapist cares. Therapists accomplish this in traditional talk therapy by attentive listening, reflecting, and empathy with little to no touch involved. This can be quite different when working with children in a play setting. Children can be naturally very impulsive, and may hug the therapist in response to a positive or negative feeling. It is important for the therapist to be aware that hugging and touch are used in many different types of relationships and have a variety of meaning. An ethical response to this issue is to abstain from hugging all clients, especially child clients (McGuire McGuire, 2001). On the other hand, if a therapist is hugged by a child, remaining stiff may send a negative message to the client (Landreth, 1999). Although I found the literature on ethical issue s in play therapy to be lacking, the information I did find was illuminating. It certainly caused me to think more in-depth about the many ethical situations that are specific to working with children and to play therapy. This means being aware of potential ethical issues before they arise and planning in advance on how I would react to those situations. I liked the direction that the literature appears to be heading, which is providing play therapists with more effective and universal guidelines for ethical problem solving. The practice of play therapy requires extensive specialized education, training, and experience. A play therapist is a licensed (or certified) mental health professional who has earned a Masters or Doctorate degree in a mental health field with considerable general clinical experience and supervision (www.a4pt.org). Unfortunately, according Dr. Garry Landreth, who is one of the major key contributors to the field of play therapy, many therapists practicing play therapy do not have the specialized training needed with less than half of the therapists currently practicing play therapy having taken a graduate course in the field. Children are a special client population, and simply having a degree in counseling or another similar field does not qualify a person to provide therapy for them (Corey, Corey, Callanan, 2007). When Dr. Landreth (2001) outlined what play therapy can do for children he also told us what areas of development are often a struggle for children and adults alike. Children start their lives with an amazing skill to play that far too often gets lost in the confusion of the adult world. Many adults still cannot claim responsibility for their actions or to accept themselves for who they are as people. Play, whether with games, puppets, drums, clay, sports, motion, drawing, drama, dolls, sand, or whatever else is available, invites a cascade of positive effects. There are endless possibilities for the use of play therapy with adults (Schaefer, 2003). Play therapy for adults can also allow the bonding with others to form healthy relationships for people who may have experience only with serious dysfunctional interactions. When adults enter into play therapy, they are able to gain access to their inner child. Very often, emotional repression and unhealthy feelings are formed in childhoo d and adults learn to ignore surface exhibition of these emotional traumas. However, with adult play therapy the person has the space to realize and act out those feelings and they can reach a resolution and closure, allowing them to become happier, healthier people. In the limited amount of research that I found on the topic of play therapy, it seems as though there is a lack of consistency among the definitions and its implementation. Some articles and texts clearly defined play therapy; others seemed to distort a traditional definition to fit their purpose. I honestly do not know if there truly is a pure form or definition of play therapy. I did however, through my research, find that the various techniques of play therapy used seemed to be quite effective at helping children to deal with a wide array of issues. In conclusion, I believe that play therapy is a fun, innovative, valid, and effective means of helping clients to express feelings that they have unconsciously repressed or avoided. It can be a very healthy outlet and can be useful at times when traditional talk therapy simply doesnt work. Dr. Landreth (2002) states that play is a childs language and toys are his/her words.