Warfare and its Psychological Impact Essay -- War Psychology Disorders

Warfare and its Psychological Impact Warfare causes many people to suffer from psychological problems. Many times, these problems come in the form of mental illness. According to the DSM-VI, which is the fourth edition of the Diagnostic and Statistical Manual of Mental Disorders, a mental disorder is "a clinically significant behavioral or psychological syndrome or pattern that's associated with current distress (a painful symptom) or disability (impairment in one or more important areas of functioning) or with a significantly greater risk of suffering, death, pain, disability, or an important loss of freedom. This syndrome or pattern mustn't be merely an expected, culturally sanctioned response such as grief over the death of a loved one. Whatever the cause, it must be considered a sign of a behavioral, psychological, or biological dysfunction."("Diseases") Mental disorders are diseases. However, according to the Director of the National Institute of Mental Health, mental disorders are treatable diseases. Mental illnesses have been proven to be illnesses of the brain. These illnesses can often be treated with medication and psychological therapy. Depression is the leading cause of disability in the world. Some believe that depression is a weakness in character, but it is a real disease with real symptoms. More people suffer from depression than heart disease. Mental illness is a serious disease. Mental disorders are serious problems with serious effects. In war there are three main groups affected by war: soldiers, non-combatants, and society. There are negative psychological consequences caused by war, both culturally and individually, these make war more costly than we realized previously. If we take these negati... ...nd there would be a lot less psychologically injured people in the US and Vietnam today. Our newfound resistance to war will prove to provide a psychologically healthy environment for not only us, but our children as well, for they are our treasure and our future. Our children are more important than any amount of oil or gold. It is our duty to create a positive environment for children in this world. Their well-being should be our first concern. They are not responsible for the conflict, but they suffer severely. They are particularly vulnerable. (Otunnu par 2) According to The Encyclopedia of Violence, Peace and Conflict "there is no escaping the conclusion that combat, and the killing that lies at the heart of combat, is an extraordinarily traumatic and psychologically costly endeavor that profoundly impacts all who participate in it." (Grossman and Siddle par.2)

Essays --

All it takes is one person to take the lives of twenty six students. Imagine dropping your kid off at school, and finding out that they, along with twenty five other classmates were killed by a single gunman. This was the reality for many parents at Sandy Hook Elementary in Newton, Connecticut. And while this terrorist act affected the lives of 26 families, it also affected America as a nation. A day after the tragic shooting, the National Rifle Association’s Executive Vice President Wayne LaPierre addressed the media, and examined how America needs to take action to protect our children. In La Pierre’s speech, he claims how the effect of a gun can differ depending on who is firing the gun. Through the use of logos, pathos, and demagoguery, he effectively provides an argument that existing gun laws have not saved us from the violence that our society has developed. The use of Logos in LaPierre’s speech is evident through the use of facts supported by his impactful words and statistics. LaPierre depicts how the media has created a violent culture in our society today, â€Å"A child growing up in America witnesses 16,000 murders and 200,000 acts of violence by the time he or she reaches the ripe old age of 18.†(La Pierre, 17) He claims that in today’s world, many movies, video games, and T.V. shows depict violent situation that usually involved bad guys shooting innocent people. LaPierre wants people to see that the media is too blame for this violent culture. By using large numbers such as sixteen and two hundred thousand, he is able to prove that media does have an effect on our society. LaPierre believes that anything can influence society, and the killers are the ones who will incorporate movie scenes into their real life actions... ... right now, starting today, in a way that we know works †(LaPierre, 3) The italicized words allow the audience to reflect on themselves. LaPierre wants people to realize that they can make a change and provide money/guns for school security even if the government will not. He also states the words â€Å"we† and â€Å"family† throughout his whole speech. This is LaPierre’s most effective use of Pathos. He is constantly remind the audience he is on their side and that he is suffering with all the families that have lost loved ones. LaPierre incorporated pathos and logos to create the effect he desired on his audience. He demonstrates logos effectively by the use of facts and supporting evidence. He also uses pathos to appeal to the audience’s emotions. Both strategies, give provide a greater chance that the audience will agree with his argument for armed security in schools. Essays -- All it takes is one person to take the lives of twenty six students. Imagine dropping your kid off at school, and finding out that they, along with twenty five other classmates were killed by a single gunman. This was the reality for many parents at Sandy Hook Elementary in Newton, Connecticut. And while this terrorist act affected the lives of 26 families, it also affected America as a nation. A day after the tragic shooting, the National Rifle Association’s Executive Vice President Wayne LaPierre addressed the media, and examined how America needs to take action to protect our children. In La Pierre’s speech, he claims how the effect of a gun can differ depending on who is firing the gun. Through the use of logos, pathos, and demagoguery, he effectively provides an argument that existing gun laws have not saved us from the violence that our society has developed. The use of Logos in LaPierre’s speech is evident through the use of facts supported by his impactful words and statistics. LaPierre depicts how the media has created a violent culture in our society today, â€Å"A child growing up in America witnesses 16,000 murders and 200,000 acts of violence by the time he or she reaches the ripe old age of 18.†(La Pierre, 17) He claims that in today’s world, many movies, video games, and T.V. shows depict violent situation that usually involved bad guys shooting innocent people. LaPierre wants people to see that the media is too blame for this violent culture. By using large numbers such as sixteen and two hundred thousand, he is able to prove that media does have an effect on our society. LaPierre believes that anything can influence society, and the killers are the ones who will incorporate movie scenes into their real life actions... ... right now, starting today, in a way that we know works †(LaPierre, 3) The italicized words allow the audience to reflect on themselves. LaPierre wants people to realize that they can make a change and provide money/guns for school security even if the government will not. He also states the words â€Å"we† and â€Å"family† throughout his whole speech. This is LaPierre’s most effective use of Pathos. He is constantly remind the audience he is on their side and that he is suffering with all the families that have lost loved ones. LaPierre incorporated pathos and logos to create the effect he desired on his audience. He demonstrates logos effectively by the use of facts and supporting evidence. He also uses pathos to appeal to the audience’s emotions. Both strategies, give provide a greater chance that the audience will agree with his argument for armed security in schools.

Merit vs Anniversary Pay Rates Essay

Performance reviews are an integral part of business. Employees crave feedback, whether it is positive or negative, as it provides motivation and a better understanding of the job requirements. Anniversary Date and Common Merit Date performance reviews each have advantages and disadvantages. It would behoove the human resource professional to choose the approach that best suits their organization’s needs and goals. Some of the factors that should be taken into consideration are; planning cycles, hiring practices, and organizational culture (Koss, 2009, p. 7) Anniversary reviews are commonly used when the organization has a lot of hourly, lower level employees (Koss, 2009, p. 2). This method provides a fair system. â€Å"Every employee receives a performance appraisal and sometimes a compensation adjustment on the one year anniversary of their start in a job, and at one-year intervals thereafter. All employees get reviewed and receive compensation adjustments at the same interval† (p. 2). This method is popular when the organization wishes to evaluate select employee performances against industry established standards, instead of vetting an employee against an alternate employee (p 2). [The Anniversary Date Method can] lighten the managers’ workloads and increases the likelihood that they’ll spend more time on their employee performance reviews, since they’re not caught trying to do them all at once. In addition, they spread out the appraisal-related workload over the year, avoiding processing peaks† (p. 2). Sometimes, Anniversary Date reviews are not the ideal choice. â€Å"An employee’s future is based solely on his/her manager’s subjective opinion of them† (p. 2). When appraisals are conducted annually, and on the anniversary date, usually about half of the staff is in line with prospective organizational objectives (p. ). Another con of this method is that the appraisal date generally does not match with any specific performance period (p. 2). This method can also result in inadequate reporting, and lesser understanding of why objectives were not met (p. 2). Because the manager is evaluating the performance of the individual, and not the comparative performance of their peers, it can create an unfair environment, and compensation allocations may be unequal (p. 3). Managers tend to try and accommodate the compensation budget, which is directly related to the cyclical ups and downs of the economy. If there is no money left in the budget, an employee with a year end review may receive a lower increase, not because they are less deserving, but because there is no more room left in the budget (p. 3). Common Merit Date Reviews is a procedure where organizations evaluate all of their employees at one specific time (p. 3). â€Å"One of the biggest advantage is that †¦they allow for corporate and individual goals to unite. HR actually spends less administration time on focal reviews because the process typically runs over a few months, rather than an entire year. This allows for†¦everyone in the organization to align their goals appropriately† (p. ). Because everything is done at one time, and each employee’s performance is being evaluated at the same time, managers can compare employees to each other, and provide consistent and fair appraisals, and allow for compensation to be [somewhat] unaffected by changing business cycles (p. 4). â€Å"Another advantage is that if any changes to evaluation criteria have to be made, new forms or processes can be distributed out to everyone at the same time† (p. 4). When the organization is focused on completing appraisals once a year, it can be much simpler to offer training on tools, processes, and skills necessary (p. ). While there are many advantages to the Common Merit Date Review, there are still a few disadvantages. Newer employees will not be permitted a full year of performance for evaluation. If there are a large number of employees, managers will need a significant amount of time to review the process and may have to neglect other tasks until the process is complete (p. 6) †¢Koss, S. (2009). Which is Best? Anniversary vs. Focal (Common Date) Performance Reviews. Koss Management. Retrieved February 26, 2011, from kosshrexpert. com/Article-WhichisBest. pdf

Michael J. Fox and the Socioeconomic

Canadian-born television and film actor, Michael J. Fox was diagnosed with Parkinson’s Disease at the age of thirty.   In his memoir, Lucky Man, Fox reveals how he has been spiritedly struggling with the disease, by also trying to help other patients suffering from the illness with no cure.   As a matter of fact, the man has been trying very hard to convince the government as well as medical researchers to find a cure for Parkinson’s Disease.   Fox has been an advocate for stem cells research to boot, and believes that a cure to Parkinson’s Disease could be found within ten years’ time, provided that we now begin to put our finances to good use, that is, to find a cure for the disease through research. Fox continued his acting career for nine years after he had been diagnosed with Parkinson’s.   What is more, the man continues to be a public figure with his advocacy for medical research to find a cure for Parkinson’s Disease.   Countless people suffering from Parkinson’s Disease choose â€Å"the closet† over public appearance for the fear that they might lose their balance before the public eye.   This is not the case with Fox, as mentioned before.   On the contrary, Fox has been able to bravely fight his disease with all the public support he has already gathered.   Moreover, the man has the money to push for medical research in the area.   He also has the funds to manage his health care better than do those sufferers who come from lower socioeconomic backgrounds.   Fox explains it thus: I'd been given a lot to think about, not least the fact that I wasn't the only one who had done   my time in the closet.   And the more I thought about it, the more it struck me just how plush,  well-appointed, and secure my own closet had been.   My career, my position in the world, and  my financial situation gave me advantages in confronting the disease that most of my fellow  P.D.ers could only dream about.   And now, having publicly identified myself as a person  living with Parkinson's disease, there was little to keep me from playing an active role. Indeed, I was ideally positioned to step into the void left by all those patients who had so  much more to lose by going public.   I had a lot to be grateful for, and now found myself with a  unique opportunity to give something back (Out of the Closet; Into the Classroom). There were various entities interested in exploiting Fox’s â€Å"position in the world† with respect to his disease.   While people that do not enjoy the privileges that Fox enjoyed in his â€Å"financial situation† while suffering from Parkinson’s Disease, remained closeted, Fox was approached by a variety of people that wanted to use his interest in medical research to actually find a cure for the dreadful disease.   After all, Fox was also contributing toward helping people with the disease with his own finances.   Thus, he mentions continued public support in his life with Parkinson’s Disease: By the end of 1998, my desk was covered with correspondence bearing the letterhead of various Parkinson's organizations across the country.   All of them wanted my help in one way or another.   The names of some of these groups implied a national reach, but on closer inspection they turned out to be local organizations affiliated with universities or hospitals or even individual researchers.   Some were not set up to address research at all; instead, they were dedicating their time and resources to more basic patient concerns, caregiver support groups, quality-of-life issues, and other worthwhile considerations (Out of the Closet; Into the Classroom). Fox is, indeed, a lucky man, who has been dealing with Parkinson’s Disease much better than do those who have not the kind of â€Å"financial status† and â€Å"position in the world† as his.   In point of fact, it has been well documented that people from around the world who are wealthier and better educated do experience better health than those with lower socioeconomic backgrounds who have both less wealth and less education.   Smoking, poor nutrition, as well as physical inactivity are more prevalent in groups that are low in socioeconomic status. Additionally, low socioeconomic groups have little or no access to preventive health care, for example, regular health checkups and screening programs.   These medical services are easily accessed by people from higher socioeconomic backgrounds alone.   What is more, financial barriers to health care are more likely to perpetuate the existing disparities in health among different socioeconomic groups (Veugelers and Yip). People from low socioeconomic backgrounds are unable to afford pricey heath services that may save their lives.   Neither can they afford expensive health insurance that would cover the kinds of health services that Fox may be using at present to fight the disease he is suffering from.   As compared to Fox’s relatively successful struggle with Parkinson’s Disease, the low socioeconomic groups have to bear a â€Å"greater burden of disease.†Ã‚   Correspondingly, people from low socioeconomic backgrounds have a â€Å"greater need for health services† (Veugelers and Yip). One research study revealed that specialist medical services are underused in the case of lower socioeconomic groups, and this widens the socioeconomic gap in health care (Veugelers and Yip).   According to another study, lower socioeconomic groups are more likely to use the Medicare managed care home health as compared to higher socioeconomic groups. Not only do people from lower socioeconomic groups need greater care, but they also rely on Medicare because they are unable to afford alternative options.   In fact, evidence suggests that 15.5 percent of Medicare plan enrollees living below the poverty line use home health during a year, as compared to only 11.2 percent of people who live above the poverty line.   Moreover, those who belong to the lowest socioeconomic groups have almost twice the odds of persons from the highest socioeconomic groups to use the Medicare plan.   People who are relatively higher in socioeconomic status than those in the lowest socioeconomic group, have approximately 1.5 times the odds of other people having a home health visit (Freedom et al.) According to Freedman et al., people from high socioeconomic backgrounds might believe that the Medicare managed care home health is an inferior good.   In other words, people from higher socioeconomic groups are more likely to use alternative options like assisted living and the hiring of private assistance outside the benefits of Medicare (Freedman et al.). Such options are believed to give access to better home health care to the aged.   All the same, these options are only available to those who can afford them.   In the condition that he is, Fox may be assumed to be using private assistance in the home.   Although he is not aged, the man is expected to have hired someone qualified by now for his home health care.   Regardless of the truth of this assumption, the fact remains that Fox is dealing with his illness with better health which may in  part be attributable to his positive mind set.   Apparently, he is not bearing as great a burden of the disease as do the people from lower socioeconomic groups.   Fox reveals his positive mind set through the illness, in a dream he had, speaking of his farm and fresh growth: It's hard to process what I'm seeing. It can't be possible, but inside this tight, dark, airless space, a tree has been growing.   Growing isn't even the word for it, really, it's absolutely thriving.   In response to the tight quarters it's taken on the appearance of a bonsai tree.   The trunk and branches are thick, and now, with the door flung open, the tree continues to grow right before my eyes, as if in time-lapse, new branches reaching out into the airy light of the kitchen and bursting into leaf (Los Angeles, March 1995). While Fox dreams of growth and thriving, research reveals that even kids from low socioeconomic groups are doing poorly in terms of health.   As a matter of fact, low socioeconomic status is also connected with worse outcomes on health status measures such as mortality, acute and chronic conditions, in addition to self-rated measures of health. Contrary to Fox’s positive mind set in his struggle to beat Parkinson’s disease, is the negative mind set of adolescents from low socioeconomic backgrounds who are more likely to attempt suicide, and engage in heavy drinking.   These youngsters are also known to be more depressed and obese.   Furthermore, poor children and adolescents are given less attention at times when they are suffering from injuries that require medical attention.   They additionally face retardation in growth (Newacheck et al.). Children from poor households have little physician contact, do not have access to a regular source of primary care as well as sick care, and are less likely to have continuity between the sources of regular and sick care.   As compared to the poor, children from high socioeconomic backgrounds obtain required health care, have a regular source of health care, and are known to receive any care from the doctor that is deemed necessary.   Such children are also more likely to be seen in the doctor’s office (Newacheck et al.). It is obvious that the socioeconomic effects on health care reach all age groups at the same time.   The young and the old are similarly affected by their financial status with respect to health care.   Unfortunately, everybody does not possess the â€Å"financial status† and â€Å"position in the world† that Fox possesses.   Nevertheless, the man is working to bridge the gap between the haves and the have-nots in terms of health care.   Funding medical research on Parkinson’s Disease, Fox’s behavior is aligned with his positive mind set that envisions growth and thriving. We may expect such growth and thriving to be experienced between all corners of society only when the difference between the haves and the have-nots is eradicated.   Although this difference has always been, and may always be, it is possible to provide better health care to low socioeconomic groups.   According to Veugelers and Yip, universal health coverage, such as Medicare, may already be bridging the gap.   Even so, people such as Fox continue to have access to better health care than those from lower socioeconomic backgrounds. Works Cited Fox, Michael J. Lucky Man. New York, Hyperion, 2002. Freedman, Vicki A., Jeannette Rogowski, Steven L. Wickstrom, John Adams, Jonas Marainen, and Jose J. Escarce. â€Å"Socioeconomic disparities in the use of home health services in a Medicare managed care population.† Health Services Research, October 2004. Newacheck, Paul W., Yun Yi Hung, M. Jane Park, Claire D. Brindis, and Charles E. Irwin Jr. â€Å"Disparities in adolescent health and health care: does socioeconomic status matter?† Health Services Research, October 2003. Veugelers, P. J., and A. M. Yip. â€Å"Socioeconomic disparities in health care use: does universal coverage reduce inequalities in health?† Journal of Epidemiology & Community Health, June 2003.   

Internal & External Economies in Mumbai Essay

The long run – increases in scale A firm’s efficiency is affected by its size. Large firms are often more efficient than small ones because they can gain from economies of scale, but firms can become too large and suffer from diseconomies of scale. As a firm expands its scale of operations, it is said to move into its long run. The benefits arising from expansion depend upon the effect of expansion on productive efficiency, which can be assessed by looking at changes in average costs at each stage of production. How does a firm expand? A firm can increase its scale of operations in two ways. 1. Internal growth, also called organic growth 2. External growth, also called integration – by merging with other firms, or by acquiring other firms By growing, a firm can expect to reduce its average costs and become more competitive. Long run costs The firm’s long run average cost shows what is happening to average cost when the firm expands, and is at a tangent to the series of short run average cost curves. Each short run average cost curve relates to a separate stage or phase of expansion. The reductions in cost associated with expansion are called economies of scale. Internal and external economies External economies External economies and diseconomies of scale are the benefits and costs associated with the expansion of a whole industry and result from external factors over which a single firm has little or no control. External economies of scale include the benefits of positive externalities enjoyed by firms as a result of the development of an industry or the whole economy. For example, as an industry developes in a particular region an infrastructure of transport of communications will develop, which all industry members can benefit from. Specialist suppliers may also enter the industry and existing firms may benefit from their proximity. Internal economies Internal economies and diseconomies of scale are associated with the expansion of a single firm. The long run cost curve for most firms is assumed to be ‘U’ shaped, because of the impact of internal economies and diseconomies of scale. However, economic theory suggests that average costs will eventually rise because of diseconomies of scale. Types of internal economy of scale 1. Technical economies are the cost savings a firm makes as it grows larger, and arise from the increased use of large scale mechanical processes and machinery. For example, a mass producer of motor vehicles can benefit from technical economies because it can employ mass production techniques and benefit from specialisation and a division of labour. 2. Purchasing economies are gained when larger firms buy in bulk and achieve purchasing discounts. For example, a large supermarket chain can buy its fresh fruit in much greater quantities than a small fruit and vegetable supplier. 3. Administrative savings can arise when large firms spread their administrative and management costs across all their plants, departments, divisions, or subsidiaries. For example, a large multi-national can employ one set of financial accountants for all its separate businesses. 4. Large firms can gain financial savings because they can usually borrow money more cheaply than small firms. This is because they usually have more valuable assets which can be used as security (collateral), and are seen to be a lower risk, especially in comparison with new businesses. In fact, many new businesses fail within their first few years because of cash-flow inadequacies. For example, for having a bank overdraft facility, a supermarket may be charged 2 or 3 % less than a small independent retailer. 5. Risk bearing economies are often derived by large firms who can bear business risks more effectively than smaller firms. For example, a large record company can more easily bear the risk of a ‘flop’ than a smaller record label. Economy of Mumbai Mumbai is the and entertainment capital of India, it is also one of the world’s top 10 centres of commerce in terms of global financial flow, generating 5% of India’s GDP, and accounting for 25% of industrial output, 70% of maritime trade in India ( &), and 70% of capital transactions to . The city houses important financial institutions such as the , the , the , the and the corporate of numerous and . It is also home to some of India’s premier scientific and nuclear institutes like , , ,, , , and the . The city also houses India’s () and . Mumbai’s business opportunities, as well as its potential to offer a higher , attract migrants from all over India and, in turn, make the city a of many communities and . Mumbai is India’s largest city (by population) and is the financial and commercial capital of the country as it generates 6.16% of the total GDP.16105137 It serves as an economic hub of India, contributing 10% of factory employment, 25% of industrial output, 33% of income taxcollections, 60% of customs duty collections, 20% of central excise tax collections, 40% of India’s foreign trade and 4000 crore (US$680 million) incorporate taxes.138 As of 2008, Mumbai’s GDP is 919600 crore (US$160 billion),139 and its per-capita (PPP) income in 2009 was 486,000 (US$8,200),10140 which is almost three times the national average.80 Its nominal per capita income is 125,000 (US$2,100),141 (US$2,094). Many of India’s numerous conglomerates (including Larsen and Toubro, State Bank of India, Life Insurance Corporation of India, Tata Group, Godrej and Reliance),105 and five of the Fortune Global 500 companies are based in Mumbai. 142 Many foreign banks and financial institutions also have branches in this area,105 with the World Trade Centre being the most prominent one.143 Until the 1970s, Mumbai owed its prosperity largely to textile mills and the seaport, but the local economy has since been diversified to include engineering, diamond-polishing, healthcare and information technology.144 As of 2008, the Globalization and World Cities Study Group (GaWC) has ranked Mumbai as an â€Å"Alpha world city†, third in its categories of Global cities.145 Mumbai is the 3rd most expensive office market in the world. Mumbai was ranked among the fastest cities in the country for business startup in 2009.146 State and central government employees make up a large percentage of the city’s workforce. Mumbai also has a large unskilled and semi-skilled self-employed population, who primarily earn their livelihood as hawkers, taxi drivers, mechanics and other such blue collar professions. The port and shipping ind ustry is well established, with Mumbai Port being one of the oldest and most significant ports in India. 147 In Dharavi, in central Mumbai, there is an increasingly large recycling industry, processing recyclable waste from other parts of the city; the district has an estimated 15,000 single-room factories.148 Most of India’s major television and satellite networks, as well as its major publishing houses, are headquartered in Mumbai. The centre of the Hindi movie industry, Bollywood, is the largest film producer in India and one of the largest in the world as well as centre of Marathi Film Industry.149150Along with the rest of India, Mumbai, its commercial capital, has witnessed an economic boom since the liberalisation of 1991, the finance boom in the mid-nineties and the IT, export, services and outsourcing boom in 2000s.151 Mumbai has been ranked 6th among top 10 global cities on billionaire count, ahead of Shanghai, Paris and Los Angeles.11 Mumbai has been ranked 48th on the Worldwide Centres of Commerce Index 2008.152 In April 2008, Mumbai was ranked seventh in the list of à ¢â‚¬Å"Top Ten Cities for Billionaires† by Forbes magazine,153 and first in terms of those billionaires’ average wealth.154 Mumbai is the world’s 38th largest city by GDP. Mumbai is India’s largest city, and is called the financial capital of the country. It serves as an important economic hub of the India, contributing 10% of all factory employment, 40% of all income tax collections, 60% of all customs duty collections, 20% of all central excise tax collections, 40% of India’s foreign trade and Rs. 40 billion (US$ 800 million) in corporate taxes. Mumbai’s per-capita income is Rs. 48,954 (US$ 980) which is almost three times the national average. Many of India’s numerous conglomerates (including State Bank of India, LIC, Tata Group, Godrej and Reliance), and five of the Fortune Global 500 companies are based in Mumbai. Many foreign banks and financial institutions also have branches in this area, the World Trade Centre (Mumbai) being the most prominent one. Until the 1980s, Mumbai owed its prosperity largely to textile mills and the seaport, but the local economy has sin ce been diversified to include engineering, diamond-polishing, healthcare and information technology.| | | | Mumbai is home to the Bhabha Atomic Research Centre, and most of India’s specialized, technical industries, having a modern industrial infrastructure and vast, skilled human resources. Rising venture capital firms, start-ups and established brands work in aerospace, optical engineering, medical research, computers and electronic equipment of all varieties, shipbuilding and salvaging, and renewable energy and power.| State and central government employees make up a large percentage of the city’s workforce. Mumbai also has a large unskilled and semi-skilled self employed population, who primarily earn their livelihood as hawkers, taxi drivers, mechanics and other such blue collar professions. The port and shipping industry, too, employs many residents, directly or indirectly. In Dharavi, in central Mumbai, there is an increasingly large recycling industry, processing recyclable waste from other parts of the city; the district has an estimated 15,000 single-room factories. | | The media industry is another major employer in Mumbai. Most of India’s major television and satellite networks, as well as its major publishing houses, are headquartered here. The centre of the Hindi movie industry, Bollywood produces the largest number of films per year in the world; and the name Bollywood is a portmanteau of Bombay and Hollywood. Marathi television and Marathi film industry are also based in Mumbai.| Along with the rest of India, Mumbai, its commercial capital, has witnessed an economic boom since the liberalization of 1991, the finance boom in the mid-nineties and the IT, export, services and outsourcing boom in this decade. The middle class in Mumbai is the segment most impacted by this boom and is the driver behind the consequent consumer boom. Upward mobility among Mumbaikars has led to a direct increase in consumer spending. Mumbai has been ranked 48th on the Worldwide Centres of Commerce Index 2008. In April 2008, Mumbai was ranked seventh in the list of â€Å"Top Ten Cities for Billionaires† by Forbes magazine.| | | External and internal shocks serious setbacks to economic growth| Economic growth is likely to fall to 6 per cent this year as external and internal shocks are serious setbacks to the country’s economic growth.The Central Bank has not revised its economic growth forecast for the year, but current conditions suggest that economic growth would slip from 7.2 per cent that it estimated earlier this year to even below 6 per cent, if global demand for exports continues to be unfavourable and the prevailing drought conditions persist. The falling international oil prices are the one favourable development that could mitigate the economic slide.Global conditionsThe international economic downturn is widespread. Even China’s state capitalism has been unable to weather the global storm and the Chinese economy is expected to slow down this year. The Indian economy may experience a precipitous decline in its growth. India’s economic progress that had been impressive in the l ast decade has been halted and its first quarter economic growth dipped to just 5.3 per cent. India’s slower growth could affect the Sri Lankan economy in several ways. India is an important trading partner. About 5 per cent of our exports are to India. | Furthermore, foreign investors tend to view investment prospects regionally. India’s troubles could intensify foreign investor concerns on Sri Lanka as a destination for FDI. Moreover our long term economic expectations are linked to the fortunes of India.The most pertinent global developments for Sri Lanka in the short run is the instability of European economies that have slowed down and reduced their purchasing power of commodities exported by us. European countries and the US that accounted for 54 per cent of our exports last year is a sizeable one for industrial exports. The decrease in exports to Europe is being felt in the trade statistics this year. The American economy too has not recovered adequately, and this being an election year, is not expected to regain a growth momentum. With these two main markets affected, our industrial exports have faced a drop of 3.1 per cent in the fir st four months of the year.What is particularly disconcerting is that there is a trend of decreasing industrial exports, especially of garments. In March industrial exports declined by 10.2 per cent and in April it declined by 8.7 per cent, compared to the respective months of last year. Tea exports to the Middle East and Russia too have been adversely affected and in the first four months, tea exports decreased by 11.8 per cent, contributing heavily to the decline in agricultural exports by 11.7 per cent compared to the previous year’s first four months. Total exports declined by 3.1 per cent in the first four months of this year compared to the same period last year. Indications are that both industrial and agricultural exports would face adverse conditions and are not likely to recover.ImportsImports continue to make a serious dent in the trade balance. Although consumer imports declined by 3.3 per cent, intermediate and investment goods continued to increase. Imports were much higher than exports and resulted in a trade deficit of US$ 3.3 billion in the first four months. If this trend continues the trade deficit could be as much as US$ 10-11 billion. This would certainly strain the balance of payments as it is too large to be bridged by worker remittances, tourist earnings, other service earnings and capital inflows. The expectation of higher amounts of foreign direct investments is unlikely. Therefore once again there would be a drain on reserves or increased foreign borrowing to meet the trade deficit, as well as repay capital borrowed earlier and to service interest payments.Economic stabilityThe stabilisation of the economy is becoming an uphill task with exports declining and imports continuing to rise. Consequently the trade deficit is continuing to widen even though some imports are showing signs of decelerating. The exchange rate has depreciated as much as 17.5 per cent since Nov. 21, when the government devalued the rupee by 3 per cent. | Global conditions are no doubt at the root of the problem. The economic policies pursued in the recent past too were not modified to take into account the realities of the global situation and the unrealistic path of development that was pursued, without consideration of resource availability and balance of payments implications of the consumption-investment pattern.Internal shockAs if the external shocks are not enough, the country is in the throes of a severe drought. While the hopes are that the monsoon is a delayed one, the current expectations are that a severe drought is likely.This is likely to reduce paddy as well as other crop outputs in the main paddy growing areas. It is estimated that the Yala 2012 crop will decline by about 30 to 4 0 per cent. There may be a need to importing rice this year. If international rice prices increase then it would result in a further strain on the balance of payments.The impact of a drought on the capacity for hydro electricity generation is serious. Increased thermal generation would necessitate higher petroleum imports. The gains by the reduction of oil prices could be wiped out by increases in the amount of oil imports. Meanwhile in the first four months of this year import expenditure on oil increased by 34 per cent.Silver liningsThere are a few silver linings amidst these dark clouds. International oil prices are falling. Though, as usual, there is volatility in oil prices, they are hovering at a much lower level that in the early part of the year. Oil prices of around US$ 90 per barrel could be a significant boon. Complementing this is the US decision to exempt Sri Lanka from the ban on oil imports from Iran. This too could bring some relief with the possibility of importing Iran crude on concessional and differed payment terms.Worker remittances that are an important source of funding the trade deficit are continuing to increase. In the first four months remittances increased by 16 per cent compared to that of the comparab le period last. This is good news in a context when there was considerable uncertainty about remittances growing owing to the turmoil in the Middle East.Policy imperativesOnly about one half of the probable trade deficit of US$ 11 billion is likely to be offset by remittances. Tourist earnings that are increasing may finance about 10 per cent of the trade deficit. Therefore the current account deficit would have to be financed largely by either running down the reserves or through borrowings that are contingent liabilities. In this context every effort must be made to reduce imports through appropriate pricing policies, reduction of government expenditure and conservation measures. Reducing the price of petroleum products would be an inadvisable measure.|

Investment Essay

Stock investment is a game of chance as the prices of stocks can be determined through consideration of various components of market. A major concern in stock investment is consideration of available information by investors. Value investing and random walk theory provides mechanism of determining performance of stock investment. Value investing has three main characteristics of financial markets as is described by Bruce C. N in his book. First, the price of stocks is subject to significant movements in financial markets (Greenwald Bruce C. N. , Judd Kahn, et. al. 2001). There are certain impersonal forces that determine price of securities at any moment attracting value buyers to invest in stock markets. Second, despite gyrations in prices of financial securities, many investors have fundamental economic values relatively stable and measured with reasonable accuracy by diligent investors. This means there is a difference between intrinsic value of securities and current price at which a stock trades in the market. Although value and price of financial securities may be identical, there is a difference between the two. Third, in the long -run, buying of financial securities when their market prices are lower than intrinsic value leads to higher returns. These three conditions are major considerations by investors in stock market especially during the period of economic hardships. In 2008, stocks markets were adversely affected by economic down turn whereby the prices of financial securities fell. The end of recession led to a strong surge of stock prices and this critical area affects decisions of value investors and random walkers. Accounting for price surge and fall of stocks by value investors and random walkers is based on fundamental analysis described in the books of Bruton G. Malkiel and Bruce Greenwald. Investment approach I financial markets use existing economic information relating to financial statements of a company and any other relevant information about the affairs of the organization. The fall of security prices in 2008 can be linked with information provided in relation to affairs of stock markets. A major analysis in the concept of financial markets is the concept of top down approach in which the prevailing microeconomic conditions determine price of financial securities. The stage of business cycle in the economy is very important for value investors as information relating to future expectations of price changes is determined. Stock selection model in this aspect of microeconomic conditions is made in a way that ensures stocks of a selected company outperform its peers in industries. The objective of stock market investors is to make more money out of their investment portfolio. Economic down turn caught many investors unaware and price fall of shares was a major threat. The fall of stocks price is attributed to collapse of financial institutions and increased prices of commodities. Investing in financial securities is a mechanism of putting surplus money at disposal by an individual or corporate into investment portfolio such as stock markets in anticipation of higher returns. Increased prices of other commodities leave individuals with less money for disposal. This means that the demand for financial securities decreases thus has an effect in price of stocks. Financial institutions play a very important role in financial markets as they finance value investors. Recession in 2008, made it hard for investors to access loan to invest in financial markets. The economic down turn thus made prices of stocks to fall making investors lose a lot of money. Strong surge of stocks price in 2009 was attributed to changes in economic performance. Random walk down street written by Burton Malkiel is one of the best investment literature used by investors to make wise decisions. The critical concept raised in this article is the issue of price movements. Price of financial securities has no memory and thus investors cannot rely on past and present prices to predict future performance of stocks market. However, relying on information provided by financial analyst or experts is of essence in the aspect of stock investment. Malkiel maintains that, buy and hold strategy is the best policy in the event of price surges as it outperforms attempts of timing markets in returns (Malkiel Burton, 2007). Consequently, in risk adjusted returns, the concept of buy and hold strategy is not credible. In this aspect buy and hold strategy is more of guesswork as it has little impact in compensating risk associated with continuous investment in stocks market. Efficiency of market is another concept used by investors in the event of stocks price fall like in 2008 and strong surge for stock price as was experienced in 2009. Financial markets are to some extent predictable but this should not be considered as a symptom of inefficiency or irrationality. Predictability of stocks market is the concept behind capitalism as was argued by Andrew a professor in finance. Investors make high returns from efficient markets because information about stocks price is provided through research and constant innovation. The strong surge of stocks price is an element of investment in which many organizations strife to maintain competitive advantage.

Organisation Behaviour Essay Example | Topics and Well Written Essays - 1000 words

Organisation Behaviour - Essay Example Teams and groups are significant aspects of organizational life. That is because when employees work as a team or a group, they quickly achieve a firm’s goals. However, it has been recorded that working as a team or a group is a complex task thus there must be a good group dynamic. Group dynamics have been defined by Films for the Humanities & Sciences (2001), as the interactions among the employees or the members of a group. It is, therefore, apparent that a work group of a firm is the most significant foundation for the social identity of the workers. The reason is that the relationship within and outside the organization and the performance of work are significantly affected by the nature of a group and the group’s behaviors.  Teams and groups are significant aspects of organizational life. That is because when employees work as a team or a group, they quickly achieve a firm’s goals. However, it has been recorded that working as a team or a group is a comple x task thus there must be a good group dynamic. Group dynamics have been defined by Films for the Humanities & Sciences (2001), as the interactions among the employees or the members of a group. It is, therefore, apparent that a work group of a firm is the most significant foundation for the social identity of the workers. The reason is that the relationship within and outside the organization and the performance of work are significantly affected by the nature of a group and the group’s behaviors.