Principles for Implementing Duty of Care in Health Essay Example for Free

Standards for Implementing Duty of Care in Health Essay In my work I have an obligation of care to the youngsters I work with. This implies their wellbeing, security, prosperity and passionate advancement is my obligation. For me to do this I follow organization strategies and methods and when required look for counsel from the fitting individuals. Ac3. Disclose where to get extra help and counsel about clashes and predicaments. While at work for any help I need I right off the bat will converse with the other individual from staff I am on move with. After that I may call a senior in the workplace or the out of hour’s obligation chief. On the off chance that issues are as yet not fathomed, at that point for the security of the youngster I may need to call the police contingent upon the circumstance. 054.3 Ac1. Portray how to react to grievances. In the event that a yp needs to submit a question about anything my first activity is attempt and resolve the issue myself. After that it might need to go higher up to a senior or my director, bombing that I would help the yp to fill in a grumbling structure and afterward hand it to the supervisor who might then make the proper move from thee. Ac2. Clarify the central matters of concurred strategies for taking care of grievances. †¢ Minor/casual protests, for example, a yp whining about the dã ©cor in their room might be managed by staff verbally however it despite everything must be recorded on an objection structure and gave to the activities director. A record will be submitted in the questions log. The grumbling will be managed in 14 days and a composed reaction will be given to the complainant with respect to the result. †¢ Serious protests must be recorded inside two working days and be completely reacted to recorded as a hard copy. The grumbling must be given to the tasks chief who at that point ought to inform the overseeing executive of keys utilizing a protest referral structure. Every single genuine grumbling must be settled inside 35 days. †¢ All genuine/composed objections must be recorded quickly on a protests structure and in the focal grumblings document. They will be tallied and reviewed on a month to month premise. The full examination subtleties will be documented in an individual examination record. †¢ The tasks chief must guarantee every single genuine protest are entered onto the week after week objections report by the selected office. †¢ Any grumbling got remotely should be signed in the homes focal record and duplicates of any correspondence should likewise be held in the home. †¢ Copies of any correspondence and the completely finished supplement one must be sent to the grumblings manager at Rawtenstalll office who will guarantee the agenda id completely finished.

Journal of Ministerial Deveopment

Question: Talk about the Journal of Ministerial Deveopment? Answer: Experience: Special Education Project I am a minister of a Catholic Church in west of London, and in the year 2015 on the long stretch of November, one of my companion welcomed me to his service. I visited his service, and saw that he is dealing with an exceptionally one of a kind task. His task is basically connected with various schools and the instruction that is being given to the understudies in schools. The understudies in the schools are not being furnished with lessons like fire drills, and things like that however they are being furnished with various types of training; they are being educated to manage basic occurrences that may emerge anytime of time. There are times when the understudies face basic circumstances like brutality, misuse, wounds in view of any sort of mishap or something, which could make an injury inside the understudies and the injury isn't just decimating for the school yet additionally for the network also. My companion, offer passionate help to these understudies or to the kids so they coul d without much of a stretch come out of the injury and could carry on with a superior life. He requested that I go with in him in his task, from the start I was suspicious about going with him since I was caught up with contemplating the Bible around then; at that point I believed that on the off chance that I need to create myself as a minister, at that point I ought to know about the basic conditions that the children of God face consistently, so I adjusted my perspective and went with him in his venture. The facts confirm that being a minister I have bunches of work to do and I have duties towards my family also, so I wavered from the start, however then I went with him in his venture. Investigation: There are such a large number of schools around the area where my companions fill in as a minister. The schools are on the whole great however now and again there are some unforeseen episodes that could occur in the life of the understudies that could change the life of the understudies concentrating in the schools. The various types of occurrences that could happen in the life of the understudies incorporate episodes like mishaps and maltreatment just as savagery. Occurrences like, fire, flood and other regular and man-made dangers could influence the life of the understudy, in more than one different ways, and it could sincerely influence the understudies too. In this way, battling flames and floods and other calamity genuinely, ought not be the fundamental point of the schools, they should ensure that the understudies who are experiencing the injury of any sort of catastrophe should come out of it without any problem. In addition on occasion there are understudies in the schools, who end it all, and things, for example, these; these demonstrations also devastatingly affect the understudies concentrating in the school. In short the episodes that hamper the day by day action of the schools, and that which are not inviting in are arranged as the basic occurrences. The basic episodes not just negatively affect the understudies and yet the basic occurrences additionally have a contrary effect or an impact on the individuals working in the association. The manifestations and the manner in which the understudies and the staff will respond differ with the social foundation of the understudies and the staff. In this way, the basic episodes ought to be managed cautiously, on the grounds that it could offered ascend to unsafe clashes among the school work force and now and again the school specialists are additionally pressurize to take choice under pressure. The schools consistently set themselves up for things like seismic tremor, floods, and flames however alongside setting themselves up for these sorts of occurrence it is essential to set up the understudies just as the staffs for basic episodes also. The basic occurrences not just incorporate those awful episodes that are occurring inside the school hour and in the school premises and yet those episode that occurred after the school hours and even away from the school premises ought to likewise be contemplated. The episode that could take outside the school premises and after school hours incorporate occurrences that are happening in a games movement or in a game. The exercises like a homicide in the school premise, or an unexpected demise in the school premise, or the abrupt passing inside the school, through episodes like self destruction could negatively affect the individuals who are there in the school. Things like, youngster misuse and brutality, or any sort of genuine injury happening because of any reason like the utilization of the weapon in the school reason could likewise have a terrible impact the understudies who are concentrating there as well as on the others too (Ortoleva and Btrancourt 2016). Things like the bomb danger as well, are not under any condition awesome for the psychological well-being of the individuals who are there in the school and in this way, the school ought to consistently be prepared to offer help to these individuals. The schools should chalk out an arrangement so that regardless of whether any such circumstance happens inside the school premise then that could be effectively dodged through the correct pla ns and the measures that are being taken by the school authority. The school the executives and the authority ought to likewise be prepared to offer mental help to both the staff and the understudies with the goal that they could without much of a stretch beat the injury through which they are proceeding to live a superior and a solid life. The school ought to have their arrangements prepared for taking care of any sort of perilous or basic circumstance, so that on the off chance that it happens the school authority and the administration have enough information and figuring out how to deal with the circumstance; the most significant part is that the school authority ought to be prepared to deal with the enthusiastic injury through which the staffs, the instructors and above all the educators and the understudies experience. The schools ought to have a group prepared so that on the off chance that there is any basic circumstance or if there is an event of the basic occurrence inside the school, they can act promptly absent a lot of issue or faltering. The group ought to incorporate the head of the school, the advisor who is there in the school and simultaneously the schools ought to likewise have the leader of each office and different staffs also; which incorporate the administrative staff, the kid care specialist, the associate instructors and different staffs of the school. My companion revealed to me that the individuals who are remembered for these groups must have certain characteristics and it incorporate characteristics like empathy, kind disposition, the administration quality and the characteristics, for example, these. In addition the individuals ought to likewise have the dynamic quality and simultaneously the individuals ought to have the listening quality also. They ought to have the option to tune in to all the guidance and choice cautiously and ought to follow the choice in like manner. Above all they ought to consistently be accessible and they should feel good in working in adaptable occasions, at exactly that point they ought to be there in the group. Philosophical Reflection The task truly fascinated me a great deal and I needed to see whether philosophy could truly assist me with finding a response to the issues that are being looked by the individuals who have encountered the basic occurrences. I needed to discover that if religious philosophy could give comfort to those individuals who had confronted the basic circumstance? Do philosophy and its writings give any sort of help, particularly passionate help to the individuals who have face the basic circumstance? Hence, I investigated barely any writings, similar to the Bible, Genesis, and the accounts and into scarcely any different writings to have answers of the inquiries that are raised inside me. Youngster misuse or any sort of misuse is something that ought to be disallowed, at any rate, as per me. I wonder if Bible has anything to state about maltreatment or not, so I took the Bible and experienced the Bible. I discovered that Bible has not utilize the word misuse anyplace, in spite of the fact that it has denied misuse, particularly psychological mistreatment is being disallowed by the Bible. As indicated by good news of James, in section 3 and in line 9, any individual who is being made in the picture of God ought not be reviled at all. In the good news of Matthew in part 22 lines 35 to 40, I discovered that psychological mistreatment really disregards two of the best edicts of God; among those two biggest precepts one is the adoration towards the God and love for all the other people who are made in the picture of the God. Imprint in part 8 and in line 34 has expressed that on the off chance that the Man expressed the healthy words, at that point he precludes the Christi an path from securing carrying on with an actual existence in an indirect manner. Along these lines, in the good news of Mark additionally a similar denial, against utilizing mishandles is being found (Higton 2015). The Ephesian part 4 line 29 expresses that on the off chance that an individual uses damaging words, at that point he (she) comes up short on the dread of God and simultaneously it additionally implies that the people activity could prompt pulverization. Along these lines, the utilization of the oppressive words really implies denying the way that there is a nearness or the presence of any sort of God. After I have discovered these realities about maltreatment I needed to establish out what Bible needs to state pretty much all the various types of viciousness and demolition and how the Bible or some other religious writings denounced any sort of savagery (Lim 2015). Before I discovered the words that are against viciousness or any sort of pulverization I discovered these lines that could give comfort to any individual who has experienced any basic circumstance or who could really be the medium through which brutality can happen anytime of time: The Lord's bond-hireling must not be combative, however be caring to all, ready to educate, understanding when wronged, with tenderness adjusting the individuals who are in restriction, if maybe God may give them contrition prompting the information on reality, and they may wake up and escape from the catch of the fallen angel, having been held hostage by him to do his will. (2Timothy 2:24-26) Viciousness and conquering brutality is a troublesome thing and now and again the injury of savagery is with the end goal that beating that brutality turns into a test f

The Cold War The Cold War Worldwide

The Cold War The Cold War Worldwide In Asia, the Communist cause gained great impetus when the Communists under Mao Zedong gained control of mainland China in 1949. The United States continued to support Nationalist China, with its headquarters on Taiwan. President Truman, fearing the appeal of Communism to the peoples of Asia, Africa, and Latin America, created the Point Four program, which was intended to help underdeveloped areas. Strife continued, however, and in 1950 Communist forces from North Korea attacked South Korea, precipitating the Korean War . Chinese Communist troops entered the conflict in large numbers, but were checked by UN forces, especially those of the United States. The focus of the cold war in Asia soon shifted to the southeast. China supported insurgent guerrillas in Vietnam, Laos, and Cambodia; the United States, on the other side, played a leading role in the formation of the Southeast Asia Treaty Organization and provided large-scale military aid, but guerrilla warfare continued. The n ewly emerging nations of Asia and Africa soon became the scene of cold-war skirmishes, and the United States and the Soviet Union (and later China) competed for their allegiance, often through economic aid; however, many of these nations succeeded in remaining neutral. As the cold-war struggle continued in Southeast Asia, in the Middle East, in Africa (in nations such as Congo (Kinshasa), Angola , and others), and in Latin America (where the United States supported the Alliance for Progress to counter leftist appeal), both the Soviet Union and the United States supported and maintained sometimes brutal regimes (through military, financial, and other forms of aid) in return for their allegiance. In Europe, the East German government erected the Berlin Wall in late 1961 to check the embarrassing flow of East Germans to the West. In 1962 a tense confrontation occurred between the United States and the Soviet Union after U.S. intelligence discovered the presence of Soviet missil e installations in Cuba. Direct conflict was avoided, however, when Premier Khrushchev ordered ships carrying rockets to Cuba to turn around rather than meet U.S. vessels sent to intercept them (see Cuban Missile Crisis ). It was obvious from this and other confrontations that neither major power wanted to risk nuclear war. Hopes for rapprochement between the Soviet Union and the West had been raised by a relaxation in Soviet policy after the death (1953) of Joseph Stalin . Conferences held in that period seemed more amiable, and hopes were high for a permanent ban on nuclear weapons. However, the success of the Soviet artificial satellite Sputnik in 1957, attesting to Soviet technological know-how, introduced new international competition in space exploration and missile capability. Moreover, both Soviet Premier Nikita Khrushchev and U.S. Secretary of State John Foster Dulles grimly threatened massive retaliation for any aggression, and the Soviet Union's resumption (1961) o f nuclear tests temporarily dashed disarmament hopes. While Khrushchev spoke of peaceful victory, extremists in both camps agitated for a more warlike course, even at the risk of nuclear catastrophe. China began to accuse the USSR of conciliatory policies toward the West, and by the early 1960s ideological differences between the two countries had become increasingly evident. Introduction The Cold War Worldwide The Iron Curtain and Containment Bibliography Detente and the End of the Cold War The Columbia Electronic Encyclopedia, 6th ed. Copyright © 2012, Columbia University Press. All rights reserved. See more Encyclopedia articles on: U.S. History

Essay about Commentary on Book Two of Herodotus Histories...

Introduction This paper will offer a commentary on Herodotus’ Histories 2.129-135. Book Two of Histories concerns itself with Egypt; specifically chapters 99-182 detail rulers of Egypt both legendary and actual. Book Two is distinct from the other books in Histories as it is in this book that we predominantly experience Herodotus as an investigator. More precisely it is in Book Two that Herodotus treats first person experience not as direct evidence but as a method of assessing the accounts of others. Chapters 129-135 provide us with the tale of King Mycerinus as recounted by whom Herodotus refers to in 2.127 as simply ‘ÆGYPTIOI’. These Egyptians are referred to at various points in Book Two and at times appear to refer to what might†¦show more content†¦This portrait of Mycerinus as a kind ruler is an interesting one and appears again in Diodorus Siculus’ Library of History. However, despite his stated low opinion of Herodotus’ earl ier work, Diodorus’ account of Egypt undoubtedly has Herodotean threads running through it and for this reason alone cannot be used to support the story of Mycerinus presented in Herodotus’ Histories. Alan B. Lloyd has suggested that the view of Mycerinus as a benign ruler may have come about due to the relatively small size of his pyramid in contrast to those of Chephren and Cheops. This argument is given further credence when it is considered that one of the theories proposed for the reduction in size of Mycerinus’ pyramid was that the Pharaoh began to devote more resources to the construction of temples. However, Herodotus’ tale of Mycerinus can just as easily be read, albeit in an unusual way, as an example of the dangers of hubris. This tale also contains some of the motifs and anti-motifs of tyrants as described in the speech of Otanes at 3.80. The conventions in Otanes’ speech appear frequently when Herodotus talks about despotic rulers i n Histories. This theory of a hubristic Mycerinus character formed as part of a tyrannical tradition in Histories will be dealt with later in this paper. 2.130 At the end of 2.129 Herodotus

Book Report of The Scarlet Letter - 680 Words

In June 1642, the townspeople of the Massachusetts Bay Colony gathered together in front of the scaffold to see the the punishment that would be levied on the young women, Hester Prynne. Hester Prynne was guilty of adultery and forced to stand upon the scaffold for three hours. While Hester was standinding on the scaffold, she was subject to name calling and constant questioning, by the other women of the town. As Hester was being shamed, she noticed and man in the crowd, it was her husband, who was presumed to be dead. Her husband, angered deeply by this, vowed to find the man responsible for this, and selected the new name Roger Chillingworth. The reverend, John Wilson, and the Minister, Arthur Dimmesdale questioned Hester, but she refused to reveal the the father. Hester then returned to her cell and Roger Chillingworth was brought into the cell to attempt to calm her and Pearl down. Chillingworth then proceeded to send the jailer on his way, and demanded that Hester tell him who the father was. She refused. Since Hester knew that Chillingworth was her long lost husband, Chillingworth insisted that Hester never reveal that they were married. Chillingworth said that if Hester does, he would ruin the real fathers life. Hester agreed reluctantly fearing that she may come to regret her decision. Hester took residence in a cabin at the edge of town and lived with her young daughter Pearl. Hester became perplexed by the young childs actions, as she watched herShow MoreRelated The Symbolic Use of Nature in Hawthornes The Scarlet Letter1376 Words   |  6 PagesThe Symbolic Use of Nature in The Scarlet Letter      Ã‚     In Nathaniel Hawthornes classic The Scarlet Letter, nature plays a very important and symbolic role.   Hawthorne uses nature to convey the mood of a scene, to describe characters, and to link the natural elements with human nature.   Many of the passages that have to do with nature accomplish more than one of these ideas.   All throughout the book, nature is incorporated into the story line. The deep symbolism conveyed by certain aspectsRead MoreABy Major Characters In The Scarlet Letter1202 Words   |  5 PagesThe Interpretation of the ‘A’ by Major Characters in The Scarlet Letter People have different cultures and experiences throughout their lives; therefore, they all have different perspectives of the same object. 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Market inefficiencies. A case study of financial recession 2007 Free Essays

string(117) " that stands out as definitely unresolved is the free mobility of stock which is often hindered by liquidity issues\." Introduction 2007 was dubbed the year the current financial recession started. Initially signs developed with the bailout of Northern Rock in August 2007, later to unfold to becoming a world financial crisis. Alarming features of this crisis was the collapse of big investment banks such as Lehman Brothers, Merrill Lynch and Bear Stearns who had to receive bail out plans from the US government in a bid to quickly calm the crises. We will write a custom essay sample on Market inefficiencies. A case study of financial recession 2007 or any similar topic only for you Order Now Discussion of moral hazards was introduced and carrying negative connotations to bailing out the banks (The Economist, 2008). Banks were accused of rashly giving out loans to would be home owners, creating conditions for easy credit on demand. This pattern of easy credit is a consumption lead approach to development and market stimulation. Characteristics of this was recognised when greater demands for housing in the USA lead to sharp raising in property prices along with high rates of interest . Acharya and Richardson (2009) explained behaviours being displayed by the lenders did to transfer the credit risks onto person receiving the loan. The example given was holding an AAA trench, with AAA referring to the classification of the loan while the trench makes notes of risks and liabilities carried with the loan. The crises also developed within the housing market which was not a surprise as most of the firms involved were mortgage lenders in the UK Bradford Bingley and property investment firms in the US, turning into what is now know as the housing bubble burst (Sowell, 2010). The American Government sponsored enterprise of Freddie Mac and Frannie Mae had to be bailed out in a bid to secure nearly $12 trillion of property mortgage (BBCNews, 2008). This was in response to house prices falling house prices and loans were being defaulted on or not being paid. Bailing out Freddie Mac and Frannie Mae played an important role in resorting confidence back into the American housing market. The two large mortgage firms are described as behemoths owning around $5.3 trillion properties within the American market. This is 25 times as big as Northern Rocks responsibilities and twice the size of the UK economy (BBCNews, 2011). Ivashin and Scharfstein (2008) reported large drop in the numbers of new loan s borrowed by 47% during the peak period of the financial recession. Critics blame the severe downturn leading on to the financial crisis on intense speculator behaviours which resulted in inflationary price increases which often lead to question of market efficiency. The efficiencies in this content related heavily on asset pricing in the stock and housing market as explained above. This easy aims to assess how and to what extent events of the financial crisis beginning in 2007 reflect asset-pricing inefficiencies in stock markets and housing markets. Expressing efficiency Efficiency of the financial market is concerned with the rate and degree in which market information is assimilated into asset prices (Koch, 2007). There are many sources providing market information such newspaper articles that publish daily stock market information and yearly financial review publish by companies themselves. Financial economist regard efficiency as being able to make the best possible investment decision on information provided (Malkiel, 2003). There is a need for information deemed relevant to be cheap and within easy access to parties enquiring for it, these are the condition for information efficiency. Readily available information creates conditions whereby resources can be allocated to get the best possible use out of them allowing allocation efficiency. Based on the conditions of informational efficiency it is possible to gauge if markets operate efficiently. More also if the results states otherwise, it help in providing clues as to what feature of the market are not operating efficiently. Mama (2010) explained, in a study of capital allocation in early 2008 amid the 2007 US housing market, financial crises, Germany exhibited negative correlated stock returns across domestically trade firms. Mama (2010) going into more details explaining it was possible to have an increase in the movement of stock returns. Under this condition explained by Mama it can be concluded that Germany failed to meet allocation efficiency. The aim of the informed decision made is to increase returns in investment by allowing the investors to recognise undervalued stocks. Intensions to achieve higher rates of returns are likely to be covered with a higher rate of risk attached to the investment (Acharya and Richardson, 2009). The problem following this approach is assuming stock markets behaviour is predictable, leading to speculative actions on set of assets and stocks. ‘Random walk’ (Malkiel) suggests, another means to choosing the best possible outcome of share and stock prices, which operates under the assumption the flow of information is continuous and would therefore affect the prices stocks. Therefore, each day’s price is independent of the previous day, in line with news and information. The random walk condition was best suited to describing pricing determinants within during the crises as seen from the need to boost confidence in the market, bring in positive news a method attempted by Portugal in November 2010 (Wise, 2010). Watson and Head (2007) identified the condition necessary for getting a perfect and efficient market. These conditions are base assumptions for creating conditions whereby trades stocks can be traded effectively with minimum limitations. Promotion of free mobility of stocks when buying and selling, which means barriers such as transaction cost and taxes are removed from market trading procedures. All market stakeholders have the same expectations regarding asset prices interest rates and other influencing economic factors. There is free mobility to all who wish to enter and leave the market at will. Information must be free of financial costs to attain and also free to all stakeholders within the market. There is expected to be numerous sellers and buyers, under conditions where no individual interest is able to dominate the market. Conditions leading to the financial crises of 2007 exhibited none if any of these features under the current market function. A Feature that stands out as definitely unresolved is the free mobility of stock which is often hindered by liquidity issues. You read "Market inefficiencies. A case study of financial recession 2007" in category "Essay examples" Another characteristic is the conditions for free market information available with no cost and free to all. Besides the several different sources of information available t the public, participants incur large volumes of financial and time cost in an attempt to have perfect knowledge of market behaviour. Furthermore, the privately acquired information is not freely dispersed into the public for free usage. It is possible for investors to operate under an imperfect market environment. There is a greater need for markets to be efficient instead of being perfect because it creates condition where investors stand to make profits by choosing to invest on stocks at the prices they are give. Under and efficient capital market there is there is expected to be operationally efficient. The condition for operational efficiency dictates transaction cost in the market incurred by investors when moving resources for the purpose of market operations must be kept as low as possible (Dimson and Mussavian, 1998). Within some trade regions of the world this condition was met. The division of most of the world’s trading economies into trading blocs (UNIONS) ensured some features of minimal operational cost incurred when trading. For example countries within the EU and those using the EURO were able to trade under a no barrier policy. For those with the EU it was possible to move resources about without being affected by significant levels of cost through taxes or limits on expenditure, for example UK residents wanting to buy property in Portugal. Furthermore, a France resident wanting to buy property in Portugal is likely to even get lower operational cost as there is no cost incurred when exchanging currency as both countries trade in the same currency. Price Efficiency recommends a fair pricing method for the role of stocks and shares. This requires the pricing of â€Å"capital market to fully and fairly reflect information concerning the past and all events that the market expects to occur in the future† (Watson and head, 2007). Wickens (2006) defined conditions whereby there are two types of asset pricing. Relative asset pricing involves comparing the price of one asset to another, derivatives and bonds are examples of this. Absolute asset pricing operates by relating the price of a stock to fundamentals. Aspects of arbitrage opportunities are expected to be removed, when they appear in the market. This is because within a financial market the existence of arbitrage would lead to increase in competition which wipes out the conditions through increase in price. The competition is by opportunities for investors to gain returns from nothing. This was a dominant feature in the conditions leading the 2007 recession, whereby inv estor were able to exploit differential prices of comparatively similar stock. There was intense level of price speculation based around the property market boom, which imposed strains on the economy globally, With the US homes sales fell across 40 states in 2006 (Whitney, 2007). This was after a 14.3% fall in house prices. Whitney (2007) expressed it was similar condition were present during the 1920s at the beginning of the last global recession. Conditions for allocation efficiency within the market requires strong characteristics of pricing efficiency within the market, it is through that resources can be allocated for the purpose of best use. It is understood that the fair price of an investment needs to be known by investors. Therefore they are able to better understand cost conditions surrounding the decisions made when selecting their investment portfolio. High level of emphasis is placed on information available and the conditions for reaching fair and fully secured prices. From this it is possible to explain market efficiency is heavily dependent on accuracy between speed and quality of information and the rates at which prices adjust. Forms of Efficiency It is possible to find out how shear prices are effect by availability of relevant information within the capital market using empirical tests. In many cases this approach (correlating with pricing efficiency) is used when there is information deficit, due to insufficient data to carry out tests relating to allocation efficiency and operational efficiency. Many of the tests carried out focus on the presence of condition suitable for investors to make abnormal returns on their investment, and to what extent that condition is feasible across the market. Weak form efficiency Weak forms efficiency within the capital market occurs when current shear prices reflect all historical information (Koch, 2007). This means that the behaviours of current investments opportunities follow the same historical movement and price trends. Under this situation, conditions for making abnormal return on investments are forgone when using technical analysis method. Similar results weak form efficiency is also expressed under empirical means and testing. It is expected that shear prices will behave in a random pattern due to information being used arriving at random times and under random circumstances. Semi-strong form efficiency This expresses conditions where all shear prices reflect all historical information and all publically available information (Watson and Head, 2007). Furthermore it is expected that share prices are more responsive to reacting quickly and accurately to securing price as soon as new information becomes available. Under semi-strong efficiency conditions for attaining supernormal returns on investments are still not possible through the use of publically as supported by empirical forms of market efficiency study. Strong form efficiency Markets with strong form efficiency are characterised with share prices reflecting all information, available within public and private domain. This condition describes a situation whereby information is freely mobile and price is very responsive to the arrival of new information. Those with full informational efficiency can make the best possibly decision on allocating their resources to produce the best returns. The condition of efficient information mobility means when situations of achieving supernormal returns arise all participants with the market are aware of it therefore removing the conditions of achieving supernormal profit. It is generally assumed under conditions of strong mobility and information there will not be opportunities for investor to achieve supernormal profit due to high levels efficiency. Investors who achieve supernormal profits through inside information are often prosecuted for inappropriate behaviours. This behaviour is generally a few in occurrence compa red to overall practices within the market (Wickens, 2006). Empirical evidence on real financial markets suggests there are some levels of market efficiency (Koch, 2007); it is possible to argue on the range of these efficient characteristics. In case studies of the financial Market crisis in 2007 most studies find no evidence of superior returns for technical or fundamental analysis (Mama, 2010). However, anomalies do exist and pose challenges for price efficiency. For example, trading at some times of the year can lead to negative or positive returns on investment. This is known as the calendar arising from changes within the market often the result of anomalies. Situations like this lead to question regarding the possibility of predicting future share prices. It is already well know that it is not possible to predict market trends based on past data proven through vast researches and empirical study. There is emphasis placed on analytical tools used for proving efficiency. The use of graphs and charts expressing correlation is regarded as technical analysis. Using this method it is possible to imply there is a relationship between past and future prices which allows condition for investors to make supernormal profits. Other analysis technique is fundamental analysis which proceeds with using public information for the purpose of calculating values of current market. It is important to note, because both form of analysis are interested in finding supernormal returns on investment, they facilitate to increasing the speed in which share prices assimilate new market information therefore, unintentionally creating conditions whereby supernormal returns is prevented from be achieved (Watson and Head, 2007). It is expressed that these analysis create new information during the investigation period which is then added to the overall information available within the market. Conclusion. When relating discussion points expressed in this essay with inefficient market behaviours leading to the 2007 financial crises, aspects that stands out most to causing price inefficiency area information inefficiency with a semi-strong form efficiency which resulted in allocation inefficiency. Information inefficiency was present within the stock market in terms of asset pricing and also within the property market in terms of risk associated with loans being given out to households. There are characteristic explained within The Economist (2008) and Ivashin and Scharfstein (2008) which leads to believe that future projections of market behaviour were not being made. This along with the increase in demand for mortgage (provision of public information) coincides, to demonstrating that large portions of the finance market (excluding those investing in private information) was displaying features more suited to semi-strong efficiency. This assumption correlates with large numbers of hous ehold applying for mortgage loans not having relevant information which is able project plans of the rates of returns expected for individual household. Information deficit for households are often generated from costs incurred when trying to access or compile large volume of information. There is also a risk that the investment of resources for the purpose of attaining market information might not produce favourable returns on investment, a characteristic which is shared by both households and corporate investor. Information inefficiency would mean prices are not secure and fairly. Speculators often take advantage of this situation whereby it is possible to identify differentiated prices from having inside information or private information. Financial market behaviours become more unpredictable (Acharya and Richardson, 2009) risk of affecting decision making are often ignored due to the possibility of making supernormal profits. The financial market will show trends more closely matching allocation inefficiency as decisions are not being made based on the fair prices. The investments carry high risks along with high level of opportunity cost. Opportunity cost demonstrates loss in profits that could be made, under conditions where assuming market prices are secured and the investors were well informed. This conclusion was reached using fundamental analysis assumption along with efficiency condition outlined as aspect of perfectly competitive finance market. Bibliography Acharya, V.V, and Richardson, M. (2009) Restoring Financial Stability: How to Repair a Failed System. [online] (Last updated 2010) Available at: [Accessed on 14 January 2011]. BBCNews (2011) Bank of America pays Fannie Mae and Freddie Mac $2.6bn. BBC News [online] (Last updated January 2011) Available at: http://www.bbc.co.uk/news/business-12108655 [Accessed on 14 January 2011]. Dimson, E. and Mussavian, M. (1998) A brief history of market efficiency. European Finance management. Wiley online. Vol 4 (1), page 91-193 Ivashina, V., and Scharfstein, D, (2010) Bank lending during the financial crisis of 2008. Journal of Financial Economics, Elsevier Vol 97 (3), Pages 319-338 Koch. A, K. (2007). Empirical Evidence on Asset Pricing Theories and Market Efficiency. Department of Economics, Royal Holloway, University of London, [online] (Last updated December 2007) Available at: [Accessed on 14 January 2011]. Mama. H,B, (2010) Information dissemination, market efficiency and the joint test issue. Books on demand GmbH. Norderstedt Malkiel, B.G., 2003. The Efficient market hypothesis and its critiques. Journal of Economic Perspectives, Vol 17( 1), Page 59 – 82 Sowel, T. (2010) The Housing Boom and Bust: Revised Edition. Basic books. New York The Economist (2008) Call it off. The economist [online] (Last updated November 2008) Available at: [Accessed on 14 January 2011]. Watson, D. and Head, A (2007) corporate finance principle and practice Fourth Edition. Financial times prentice hall. Harlow Whitney. M, (2007). US Housing Market Crash to result in the Second Great Depression. Market Oracle, [online] (Last updated February 2007) Available at: [Accessed on 14 January 2011]. Wise, P.(2010) Euro in crisis. Financial times [online] (Last updated 2010) Available at: [Accessed on 14 January 2011]. Wickens. M (2007) ASSET PRICING AND MARKET EFFICIENCY. University of Athens Department of Economics [online] (Last updated 2007) Available at: [Accessed on 14 January 2011]. How to cite Market inefficiencies. A case study of financial recession 2007, Free Case study samples

INTRODUCTION Essays (1644 words) - Psychology, Motivational Theories

INTRODUCTION Motivation of employees in the workplace is one of the fundamental responsibilities of a manager, in order to achieve high levels of productivity, to satisfy the ever changing customer needs, and to withstand the increasing global competition. Management motivates the organizational members to make the most of the scarce resources by distributing awards to outstanding employees and perhaps punishing those showing unacceptable performance. Steers (1987) stated that "A comprehensive theory of motivation at work must address itself to at least three important sets of variables which constitute the work situation, i.e. the characteristics of the individual, the characteristics of the job and the characteristics of the work environment". (Blue) Motivation is a tool, often used by the managers to catalyze the avidness of the employees to work without pressure. Various motivational theories have been used since decades to stimulate the workforce in achieving extraordinary results in all fields of work. To motivate the employees, the managers should understand that different people have different set of needs and understanding, and therefore, should be able to use the right mix of motivational theories depending on different individuals, different societies, and different organizational levels. Use of analogous motivation methods may lead to frustration, resentment and a perception of inequity for employees from a diverse culture. (cited from CULTURAL VALUES IN RELATION TO EQUITY SENSTIVITY WITHIN AND ACROSS CULTURES, KENNETH G. WHEELER) Taking this into consideration the managers should apply their knowledge of the various motivational theories to improve the workplace performance. It would depend on different societies, different individuals, and different organizational or job levels. There is not probably a universal motivator for all mankind, nor is there a single motivating force for any one individual. It is a problem of what mixture of needs for what kind of people in what kind of society. In Hong Kong, for example, there is no doubt that money is a predominant motivator with regard to both the lower level need satisfaction and the fulfilment of status and achievement goals. Employee motivation or motivation of organizational members is one of the critical functions of a manager, because there is a persistently increasing pressure for increased productivity in order to meet competition, to best utilize the scarce resources, and to provide goods and services to more and more people at less and less cost Organizations motivate their workforce to perform effectively by offering them rewards for satisfactory performance and perhaps punishing them for unsatisfactory performance. Motivation is the catalyst that spurns employees' eagerness to work without pressure. To motivate is to provide employees with a motive to do some tasks. It is to cause or provoke somebody to act either positively or negatively. Motivation has been used by effective managers to prompt ordinary people to achieve uncommon results in all fields of endeavours People work because they have goals to achieve which surpass financial gains from their employment. Maslow (1943) said that people work to survive and live through financial compensation, to make new friends, to have job security, for a sense of achievement and to feel important in the society, to have a sense of identity, and most especially to have job satisfaction. All employees that have job satisfaction are high performers in their respective workplaces. Theories of Motivation Motivational theories are broadly segregated based on two grounds. The one dealing with the scientific approach such as Equity and Expectancy theory are called process theories and those showcasing the inner drive of an employee that motivates them to work such as Maslow's (1954) hierarchy of needs and Herzberg's (1959) two factor theory are called content theories. The below mentioned section will highlight more about these theories. MOTIVATION THEORIES Maslow's Hierarchy of Needs Abraham Maslow (1954) presented the hierarchy of needs and divided them into two groups; deficiency and incremental needs. The deficiency needs includes the biological, safety, belongingness and social needs whereas the incremental needs comprises of the esteem and self actualization needs (Citation: Huitt, W. (2004). Maslow's hierarchy of needs. Educational Psychology Interactive. Valdosta, GA: Valdosta State University. Retrieved [date] from, http://chiron.valdosta.edu/whuitt/col/regsys/maslow.html. Return to:). Maslow proposed that as an individual develops they work towards achieving these needs, arranged in a certain hierarchy and unless the