Theories of Ageing Essay Example for Free

Theories of Ageing Essay Major theories of ageing in relation to the development of an individual As an individual grows older they get more withdrawn from the rest of society. The society actually rejects older people from a lot of activities. It is part of growing older and it is a way of distancing yourself from people before you die. Therefore the two major theories examine what causes an individual to distance themselves from this the rest of the people. The social disengagement theory basically examines the development of an individual and how it influences their development as they grow older. The activity theory of ageing examines how an individual continues to be attached to their normal routine of life. The two theories suggest two different things which two different individuals might have an impact on. The social disengagement theory would affect the personality of an individual because they are disengaging from the rest of the society and they become lonelier. Loneliness would impact in their lives because they have no one that pays interest to what they want and what makes them happy. Once the individual isolates themselves from the rest of the society, everybody who was close distances themselves. The social disengagement theory suggests that it is normal for older people to withdraw from the society and it becomes part of their life. This would not be very accurate because it causes the individual to be more stressed. They would be more stressed because they are disengaging from the society and they are getting hold of the fact that they might be dying and nobody cares about their existence anymore. This would be depressing to the individual and it would be more appropriate that they be active as the time to live would be less and it would be healthier not to be stressed and depressed from being lonely and disengaging from the society. The suggestion of the disengagement theory does not help the individual to feel good about them but it makes them feel that they are being isolated and they are getting hold of the fact of death. The activity theory suggests that an individual continues to feel great about their attitude towards their life. This helps the individual to feel the need to be positive about their life. The activity theory suggests that an individual’s self-esteem is not affected by ageing as long as activities e. g. work are replaced with new activities. The more the individual socialises the more they have an active life and they are happier in their in old age. This does not make the individual feel that they are being left out because they are personally involved in the activities that make them feel happier in their lives. The activity theory has an impact in the development of an individual because the more they are happy at their old age; the more they get the opportunity to spend as much time with close relatives and friends. This is helps majorly in the development because the individual can see that people are there for them and it becomes easier for the individual to come to terms easily to that they might die. The acceptance of their death makes the individual be happier and they want to live their life to the fullest. The theory assumes a positive relationship between activity and life satisfaction. Activity theory reflects the functionalist view that the balance that an individual develops in middle age should be maintained in later years. The theory predicts that older adults that face role loss will substitute former roles with other alternatives. This would help them to continue their daily lives as normal. This would be a huge advantage to the individual than disengaging from the society. This is so because they get to be fit in their physique, that’s if they choose to start having an exercise routine or they may want to take up course because they feel the need to expand their knowledge. If the individual disengages from the society, it becomes difficult for them to engage in any form of activities. The social disengagement theory might be the only option of the individual if they are really terrified of being out. This would also be an option if the service user feels that they are better in that situation when they have no friends and family. Therefore the social disengagement theory would be an option if the service user does not feel good about their self-esteem. The activity theory is best theory because it keeps the elderly person in touch with everything and everyone that is around them. Therefore residential homes should encourage service users to physically and mentally active as it would contribute to their social life in the society.

Sociol Cultural Homogenisation And The Role Of Media Media Essay

Sociol Cultural Homogenisation And The Role Of Media Media Essay There is a huge amount of debate on whether media actually leads to homogenisation process and thereby the subsequent creation of Global culture and whether there is such thing as global culture. Is the widening and deepening of international flows of culture through media in a single integrated market leading to the emergence of a global culture? If so, what are the factors which facilitate the creation of this homogenisation? These are some of the issues that the paper seeks to focus; the paper will also deal with the role of the local in responding or not responding to the impact of media. In short, the dynamic relationship between the local and the global is analysed in the paper. Introduction: Globalisation and media are closely inter-connected. The growth of globalisation has accelerated to a large extent with the growth and development of media technology especially in areas of TV, films, internet, videos, music, news etc. Media acts as an agent of globalisation in generating homogenisation by spreading cultural symbols, ideas and practices across socio cultural settings of the world. The impact of media is instant, it moves quicker than any material goods or people. It has a tremendous impact on both sustaining and weakening or eroding the fabric of social life. The more efficient the media is in communicating, the more effective it is in stabilising or destabilising existing social, political, religious etc scenario. Media actively constructs peoples identity across the dimensions of nations, race, class, gender, ethnicity etc in a number of ways, which often lead to homogenisation process. The media imposes their powerful images, sounds and advertisements on a vast ra nge of peoples of the world who most often succumb to their messages which are mostly designed to increase the profits of capitalist firms. Globalisation involves expanding worldwide flows of material objects and symbols and the proliferation of organisations and institutions within global reach that structure those flows. The process of globalisation is also characterised by relationships that are mediated through symbols of values, preferences and tastes etc through the powerful impact of media. The impact of media globalisation is manifold: it can lead to hybridisation of cultures, assertion of cultural autonomy and identity, cultural conflict, localisation, creolisation and homogenisation. However in my paper the focus is mainly on the homogenising effect of media globalisation on the socio cultural settings of the world and the factors which facilitates the creation of this homogenisation. Hannerz distinguishes between three dimensions of culture, which indicates that cultures are susceptible to global dynamics: Ideas and modes of thoughts: The entire array of concepts, propositions, values and mental operations that people within some social unit carry together. Forms of externalisation: The different ways in which ideas and modes of thought are made public and made accessible to the senses eg, forms of art, food habits etc. Social distribution: The ways in which people`s ideas and modes of thoughts and external forms are spread over a population and its social relationships. Thus, understanding structures of shared knowledge, values, beliefs, experience and meanings in all their complexities remain the core concern of cultural analysis. Media technology plays a major part in transmission of the second and third dimension of Hannerz definition of culture. According to Hannerz, media in particular are machineries of meanings: they enable communication without being in one other`s immediate presence  [1]  . In contemporary complex cultures, people increasingly make use of the media to externalise and distribute their ideas and thoughts throughout the world. This is how cultures as a system of meanings, symbols and actions get expressed in different form and media plays a major role in their transmission across the rest of the globe. Therefore culture is also about sharedness. The concept of de territorialisation as also referred by Appadurai, explains the inter connectivity of cultures across nations. These cultures are in contact with media in one way or the other and constantly influence each other in terms of tastes, styles, value systems, ideas, meanings and practices. According to Ritzer, the theory of socialisation and social interaction teach that human transcend in their social group through a process of acquiring culture and other gestures from parents and other social group members and social facts that happen in the environment in which the person lives. Here the environment in which each individual lives also includes media mediation and translation of social reality and thus culture is transmitted and diffused across cultures through the workings of the media. Media also play a major role in the continual re shaping of cultural identity. Benedict Anderson, points out that nation as imagined communities often started out as media audience. Media articulate the meanings and experiences associated with particular social identities in a globalised context and export them to different distant places. Arjun Appadurai makes clear that people around the world are increasingly living a fictional lives based on media narratives and imagery. People around the world can now connect with like- minded others which binds people together irrespective of language, home background and socio economic circumstances eg:- allegiance to Real Madrid or Manchester United as global football club. Internet connections enable fans scattered across the globe to remain in touch and meet up regularly. Popular culture leads to formation of distinctive organisational forms and practices which are hybrid in nature. They are neither local nor global but a distinctive hybrid culture of transnational where fan clubs of a particular sport like football, cricket etc or iconic figures like Michael Jackson come together and form a unique transnational group where hybrid names, emblems and material products emerge. This trend emerges with the formation of internet communities and networks. They allow intensive contact with other cultures without actual bodily or localized contact and have an impact on the minds and practices of the people. However the intensity of impact depends on the way in which information are processes and digested in the receiving cultures. New channels of intensified social connectivity are permitted by contemporary electronic media Eg:- social networking sites like facebook, orkut etc. Live global television covering a single event carried through the satellite news carriers covers varied and diverse locations and geographical areas. This brings together people across great distances and social relations become radically freed from l ocal contexts, and spatial distances become less important, and a greater consciousness of a world outside the local context come into picture. It produces a sense of globalised reality eg:- the recent FIFA World 2010, Cricket World Cup 2011 etc. This live global television is experienced by large numbers of people worldwide and creates an extension of social connections across time and space. Increased oneness of the world is accelerated by such forces. There is international corporate ownership of media enterprises which ensures that there is an increasing consumption of material goods and sharing of cultural icons across large numbers of people. These processes construct a shared experience of time and a collective memory for different groups of people. Thus Mass culture is created which is a product of modern communications. There is a huge amount of debate on whether media leads to homogenisation process and thereby the subsequent creation of Global culture and whether there is such thing as global culture. Is the widening and deepening of international flows of culture through media in a single integrated market leading to the emergence of a global culture? The term global cultural flow according to Arjun Appadurai, is used to indicate the simultaneous fluid movement and changing meaning of ideas as well as their location and passage through specific historical, linguistic and political contexts. Global culture is used to denote the growing uniformity and homogenisation of the world`s cultures which serves as a magnet attracting people to particular ideas regarding economic opportunities and consumption. Consumer culture: Global culture is often held to be a media driven construct dependent upon the profit seeking production of mass mediated signs and symbols. The emergence of global culture is often taken as the direct outcome of the capitalist market institution restructuring to get desires, create needs and thereby open up a new arena for capital accumulation leading to commoditisation, commercialisation and consumerism made possible by media ads and communication industries in their drive to maximise profits. Global consumerism thrives on the promotion of brand names like rolex, addidas, reebok, coca cola, Mc Donalds etc based on what people would like rather than what they are and need. This consumer culture is filled with new community signs which form the popular culture allied to global media translated through the market. There is a growing similarity which transcends frontiers and similar trend of styles of dressing, consumption of sports, music preferences, eating habits etc has emerged. Th e term MC world has been coined to describe the standardisation of an American consumer culture, a combination of fast food, fast music and fast computers that bring people together through a common consumption of commodified cultural production. According to Hermans and Kempen in their article Moving Cultures, referred to Glocalisation in economic usage where they introduced the term micromarketing i`e is the tailoring and advertisements of goods and services globally to increasingly local and diverse cultures. Thus, they talked about the creation of differentiated consumers and the emergence of consumer culture of the same global goods and services. They further problematises the relationship between the local and the global where cultures constantly interpenetrates with each other and become a part of the interconnectedness of the world system. Therefore the distinction between what it global and what is local becomes blurred and the presumed homogeneity of the local or internal and the distinctiveness of the global or external becomes problematic. Thus globalisation also involves the blurring of clear cut distinction between the local and global. What is local becomes global and what is global becomes local and sometimes they may become indistinguishable and homogenised. Media globalisation increasingly involved the creation and incorporation of locality. These processes is largely seen through the TV enterprise like CNN and MTV which seeks global markets and focussed on culturally diverse and differentiated groups. Dominance of west: Many have argued that global culture is more of western culture domination and enforcement of western culture on the rest of the world which is referred to as westernisation. The imposition of American culture in the form of TV, Videos, Pop music, Films and Ads on vulnerable communities unable to protect them from the sheer volume and intensity of exposition to media is widely under attacked. In recent years US has enjoyed a growing surplus for audio visual products (TV, Video, and Cinema) with the EU. Globally, the US accounts for about 75% of all TV programme exports. American Time Warner organisation claims to be the largest media company in the world. During the last decade there is a struggle for the formation of a new Information order from the Third World countries with a determination not to remain passive recipient to the west active centre. Countries like France, Italy, China, Canada, North Korea etc has imposed a check on US media imports for different reasons. Hence questions are being raised regarding prior consent for Transborder home reception, the production of communication technology on definition of privacy and also attempt to develop their own regional media. Fears of US media domination lead to Mc Bride Report 1980, which lead UNESCO to call for a restructuring of global media along more egalitarian lines. The WTO and International Tele communications Satellite Organisation (INTELSAT) are among the prestigious international bodies that have attempted to establish guidelines for the regulation of global cultural flow. However for some writers globalization is not westernization. According to them, outwardly analysis may appeared that the world is oriented towards westernisation rather than globalisation especially when one could see the popularity of the western music, movies, and McDonalds etc where more and more countries are seen playing the top chart of the pop list of USA and Hollywood movies and US-made television serials (like Friends and the Simpsons) are becoming widespread processes of cultural transmission. However, a closer examination indicates that the impact of the flow of these cultural goods have different meanings in different societal and cultural contexts with uneven impact on classes and age groups. Some of the products are consumed without any modification; others are modified and indigenized to suit the local contexts. Nevertheless, westernisation can be seen as a part of Globalisation. Media Imperialism: There is a construction of media order through the entrepreneurial devices of a comparatively small number of global players eg Time Warner, Sony, Rupert Murdoch News Corporation and Walt Disney Company. News globalisation was dominated by press wire services in the 19th century, however in the 1970`s and 1980`s electronic media globalisation increased. Aggressive media companies like Rupert Murdoch`s News Corporation yielded a massive conglomerates of other global media industries. Cable News Network (CNN) has struggled to become a 24 hour news provider, watched religiously by global business and political elites of the world. The result was an undeniable increase in the degree to which people`s everyday lives are experienced through the media. Several large media companies like Viacom, Disney, Time Warner etc over the last decade have evolved from being a local industry to large global conglomerates based on new forms of vertical and horizontal integration. These media conglomerati on was made possible by media deregulation in major western economies. These conglomerates not only have access to enormous quantities of investment capital but also the ability to minimise financial risks by managing their media products across different world markets in their areas of influence. For instance, News Corporation began as a print enterprise in Australia, spread into TV in UK in the 1970`s. This is now targeting the huge Chinese and Indian markets with its Star TV system which currently broadcasts in over 20 Asian languages. There is a popular concern about the growing concentration of ownership of global media production and transmission in the hands of a small number of corporations. For example, the past two decades have experience a huge expansion of the pop music industry, MTV has now become 24 hour music channels in America, Europe and Asia. But 70% of all pop music is produced and distributed by a handful of multinational corporations that integrate production, transmission and promotion ensuring that certain iconic faces like Madonna, Michael Jackson etc are everywhere, on TV, video, films, CD`s, magazines, newspapers, advertisements, radio and even designed on T shirts and many other things. The flow of information was dominated by multinational entities based in the most powerful nations leading to what is known as medial imperialism. Global and the local: The widespread claim of homogenisation of world cultures; the global as pro active and the local as reactive to global culture have been found to be unlikely by many scholars. They have argued that the local do not remain a passive recipient of global cultures transmitted to them through the media but the local have its own way of interpreting global influences according to its relativity. One such defender of this view is Robertson, who maintained that diffusion and transfer of ideas and values across socio cultural formations adapt to a particular local culture, which he termed as Glocalization. He talked about ambivalence and ambiguity of human culture in globalised world. Globalisation itself has no meaning unless it is connected in the context of the local. For him, globalisation is able to link locales together both materially and ideationally. Hence the local and global are inter connected and influence each other simultaneously and the media acts as an agent in increasing thi s process of glocalization and globalisation. This results in not only homogenisation but also hybridisation of cultures as the global gets localised according to the suitability and necessity of that particular contexts. To quote Robertson, An international TV enterprise like CNN produces and reproduces a particular pattern of relations between localities, a pattern which depends on a kind of recipe of locality  [2]  . He further illustrates how certain religions like Hinduism, Buddhism, and Taoism etc involved a long process of Glocalization after its dissemination throughout the globe. Following form this and relating it to the present context of information technologically advanced world, we see that religions are being widely promoted through the media. Religious channels are available 24/7 on TV, internet etc. These channels reach out to different regions of the world and are either absorbed and assimilated into the existing settings and become glocalised or they are rejec ted completely as a threat to their existing values and beliefs system. From here we can induce how the media play an important role in localising the global. Thus, the relation between the local and the global remain complex and negotiable terrain. Basically the politics of the glocal refers to globalisation from below which means that the impact of the global to a certain extent is in the hands of the local. This is because the local is not just a passive recipient of whatever globalisation through media brings at their doorstep influencing their lifestyles, ideas, values etc but the local is something active which constantly accommodates, assimilate and transforms different cultures that are brought to them, interpreting them according to its convenience and adaptability. Another reaction of the local to the global is the rejectionist attitude. There are many local movements who vehemently attempts to reject or resist the globalisation process and the impact of media consumerist culture claiming to protect their cultural identity or the purity of their culture. Some remain hostile to globalisation impact due to its ability to erode the traditional value system and the adverse affect on their socio cultural moral system. Contemporary indigenous movements are becoming increasingly global Eg:- Native people`s Movement increasingly use the media to defend or promote their rejection of globalisation process. In a globalised world, people constantly used the media to mobilise people as a local assertions against globalisation influence. In the present context, promotion of locality through the media has become a common trend. There is an attempt to globally organise the rights and identities of natives or indigenous people`s movement. The emergence of popul ar culture and the growing commodification of the consumer`s experience popularised and sensationalised by media is seen by many as posing a threat to the richness and diversity of cultural practices, resulting in the description of mass consumerism as a monolithic force with one dimensional causal effects on the traditional cultures. There are certain closed group which remain suspicious about the impact of media globalisation and attempts to curb and regulate the free expression of media itself. Such kind of group would be countries like China, Japan, Muslim fundamentalist etc however in the context of contemporary advancement of media technology it becomes difficult to remain intact by the homogenising influence of media. Nevertheless, the idea of uniformity of culture should not undermine the pervasive impact of counter currents that emerges from the local reception of the global. Wilkinson (1995) has developed the thesis that today, Conclusion: However claims of Global culture and its impact on cultures without uninterrupted reception by age, class, gender and geography etc is naive. Thus a deeper probing of the complex relationship between the global and local is necessary because human beings are not without rational analysis or do not have any personal choice but they are thinking individuals with a mind of their own capable of deciding what is best for themselves and hence they do not succumb to the global consumer culture unmindfully but translates the impact of media according to their own reality. Tomlinson made a distinction between culture as lived experience and culture as represented in media. He had argued that the realities in peoples lives are much more powerful than mere representation in global televisions and people do not get manipulated easily by the reception of media. He furthers argues that the cultural critics have overlooked the capacity of the audience to negotiate the possible contradictions in the reception of media. To him the power of the media should not be exaggerated by looking at media as mediating cultural experience rather than the determining force. Ang also refers to interpersonal drama to mean that media products are interpreted differently in different cultural contexts. Avijit Pathak is another who also talks about the politics of culture where cultures constantly negotiate in its interaction and influences. For him, even though there is a dominant global culture emanating, the process of reception becomes contextualised and gain a hermeneutic form, this he calls the art of resistance. For Wilkinson only one global civilisation exists which is a direct descendent of 1500 BC civilisation in the near East when Mesopotamian and Egyptian civilisation collided and fused. This entity spread all over the globe and engulf all others previously independent civilisation like Chinese, Japanese and western into one global civilisation. His idea was of connectedness of the world into one system rather than uniformity. People who interact with each other continuously belong to the same civilisation even if their cultures might be very dissimilar and hostile to each other  [3]  . Expansion of media communication increases connectivity of cultures, thus a chain of cultural networks are created no matter however they are connected either hostile or differently but they are still interacting with each other and hence influences each other in one way or the other and results in the emergence of certain similar trends. Therefore, what is undeniable is that media globalisation in o ne form or the other has an impact on the lives and consciousness of almost every one cutting across transnational borders, cultures, ethnicity, gender, class, age etc. Thus, global media is rendering almost everyone with something of a cosmopolitan culture. What was once local has become global and the line between the division of global and local is thinning and becoming blurred day by day.

Wyeth Pakistan Limited Business and Financial Analysis

Wyeth Pakistan Limited Business and Financial Analysis 1. INTRODUCTION 1.1 REASONS FOR CHOOSING THE TOPIC Business and financial analysis has been my area of interest during ACCA. I have already studied the models that I require to answer the research questions of this research project, namely Ratio analysis, PESTEL analysis, and SWOT analysis, RATIO analysis. This project came as a golden opportunity to demonstrate the practical application of my knowledge. It has always aroused my curiosity why some businesses outperform and why some underperform financially. This topic will utilize the financial and business analytical skills I have acquired so far and prove my skills once I get the degree in applied accountancy to prospective employers. The research will give me an opportunity to brush up skills that require searching internet for information. It will also brush up my spreadsheet capabilities. 1.2 REASONS FOR CHOOSING THE ORGANIZATION I want to work in my uncle’s pharmacy in future. Knowing the pharmaceutical sector will give me an edge in identifying the strengths and weaknesses of suppliers of medicines. Most of the medicines I have seen in my uncle’s pharmacy are by Wyeth, therefore it aroused my curiosity. 1.3 PROJECT OBJECTIVES AND RESEARCH QUESTIONS: The aim of this report is to evaluate the effectiveness and efficiency with which Wyeth Pakistan Limited has been performing over the past 3 years in business and financial matters. The report will include the business analysis in terms of: Assessment of the macro environment of Wyeth using PESTEL analysis. Typical PESTEL factors to consider include: Factor Political Could include: e.g. EU enlargement, the euro, international trade, taxation policy Economic Social Technological Environmental Legal e.g. interest rates, exchange rates, national income, inflation, unemployment, Stock Market e.g. ageing population, attitudes to work, income distribution e.g. innovation, new product development, rate of technological obsolescence e.g. global warming, environmental issues e.g. competition law, health and safety, employment law (PESTEL analysis of the macro-environment) Assessment of the strategic capabilities of Wyeth using SWOT analysis SWOT analysis is a basic, straightforward model that provides direction and serves as a basis for the development of marketing plans. It accomplishes this by assessing an organizations strengths (what an organization can do) and weaknesses (what an organization cannot do) in addition to opportunities (potential favorable conditions for an organization) and threats (potential unfavorable conditions for an organization). (DANCA, Anthony C.) Assessment of Wyeth’s future prospects The financial analysis will include: Sales analysis: Sales analysis helps the company know it is meeting its sales objectives in a given timeframe. (MANDA, Gilbert) The analysis will include sales revenue and growth. Profitability Analysis: Every firm is most concerned with its profitability. One of the most frequently used tools of financial ratio analysis is profitability ratios which are used to determine the companys bottom line. Profitability ratios show a companys overall efficiency and performance. (PEAVLER, Rosemary) The analysis will include Gross Profit (G.P) ratio, Net Profit (N.P) ratio and Return on Equity (ROE). Liquidity ratios: A class of financial metrics that is used to determine a companys ability to pay off its short-terms debts obligations. Generally, the higher the value of the ratio, the larger the margin of safety that the company possesses to cover short-term debts. (Liquidity Ratios) The analysis will include Current ratio, quick ratio, debtor turnover ratio and inventory turnover ratio. Investor ratios: The holders of the ordinary shares of a company (its equity) are interested in the return on their investment and the value of their shares. (Advanced Level Accounting, 1996) The analysis will include Earnings per share, Price Earning ratio, Dividend per share and dividend yield ratio. The research questions for my research report are: The growth in sales between 1 January 2008 and 31 December 2009? What is the effect of Governments price freeze policy on profits of Wyeth? What is the effect of the economic crisis of Pakistan on the financial performance of Wyeth? What was the effect of changing the policy of selling on credit to selling on advance on the working capital of Wyeth and hence its liquidity position? What are the strengths and weaknesses of Wyeth? How well did Wyeth perform compared to its major competitor GSK? How well is Wyeth utilizing its strategic capabilities? 1.4 OVERALL RESEARCH APPROACH I started my research by carrying out a financial analysis using ratios as the tool for my analysis. Most ratios can be calculated from information provided by the financial statements. Financial ratios can be used to analyze trends and to compare the firms financials to those of other firms. (Financial Ratios) Then I carried out an analysis of the environment of Wyeth using PESTEL analysis. This was followed by SWOT analysis to assess its strategic capabilities. 2. INFORMATION GATHERING 2.1 SOURCES OF INFORMATION PRIMARY DATA Information that has been collected at first hand. It involves measurement of some sort, whether by taking readings off instruments, sketching, counting, or conducting interviews (using questionnaires). (Primary Data) To gather primary data I tried reaching Mr. Khwaja Bakhtiar Ahmed, the company secretary, through his assistant. After persistent efforts I finally got an appointment. He was a charismatic person with a lot of knowledge. He enlightened me about Wyeth policies and answered many of my questions. He also handed me the annual reports of Wyeth and management accounts. For the purpose of collecting data I also emailed a questionnaire to a sample of employees of the organisation. The response was good. SECONDARY DATA Secondary data is data collected by someone other than the user. Common sources of secondary data for social science include censuses, surveys, organizational records and data collected through qualitative methodologies or qualitative research. (Secondary data, 2011) My secondary sources of information included the following: The annual reports of Wyeth and GSK. News papers such as Business recorder, pharmaceutical literatures. ACCA text books especially for Paper F1, F3, F7, P3 and P5. News websites such as â€Å"The news† and â€Å"Jang†. Books that I found in the library of Superior college. Internet 2.2 METHODS USED TO COLLECT INFORMATION 2.2.1 Visiting stock Exchange: I visited the stock exchange to get the hard copy of the annual reports of Wyeth and GSK. 2.2.2 Interview: My interviews with Mr. Khwaja Bakhtiar Ahmed, the company secretary and Mr. Imran Baig, my mentor proved to be a good source of information. 2.2.3 E-Mail survey: I conducted an e-mail survey. The questionnaire was sent to different employees of the organization as a word attachment and asked them to fill up the word file and send it back as attachment 2.2.4 On-line Access: Various websites were visited for the purpose of research. The most important ones were the website of Wyeth, Karachi stock exchange, and Pakistan Pharmaceutical Manufacturers Association. I also visited ACCA website for archives of student accountant articles. 2.3 QUESTIONNAIRE AND SAMPLING TECHNIQUES USED The questionnaire was emailed after having it reviewed by the different department heads. The population I used was the one that was using an email. I had taken the email addresses from the records maintained by the company. The method I used for sampling was haphazard sampling. I chose the email addresses at random 2.4 LIMITATIONS OF INFORMATION GATHERED Some information was collected from Wyeth website which may be favourably biased towards the organization. It is possible that in spite of all the efforts some information sources may not have been identified which could have lead to a different conclusion. The sample chosen for the email questionnaire might not be representative of the population The views of the company secretary about future prospects might be biased or over optimistic The information present on internet can be subject to the authors own judgements instead of presenting facts. 2.5 ETHICAL ISSUES DURING INFORMATION GATHERING As per the guidelines of Oxford Brookes university I was supposed to disclose the full details of the information sources that I used, but it was in the best interest of the employees of the organization to have their names kept anonymous so they do not face problems with their employer. I put special care into making sure the questionnaire kept the identity anonymous. During the interview with Mr. Khwaja Bakhtiar Ahmed, the company secretary I asked some questions about the new product launch of ENBREL and ORISTIQ. He was hesitant in answering at first but then I assured him that this information was publicly available, after knowing this he co-operated. 2.6 ACCOUNTING / BUSINESS TECHNIQUES USED AND THEIR LIMITATION The accounting/business techniques used for the project were as follows: 2.6.1 Ratio Analysis The term accounting ratios is used to describe significant relationship between figures shown on a balance sheet, in a profit and loss account, in a budgetary control system or in any other part of accounting organization. Accounting ratios thus shows the relationship between accounting data. The ratios analysis is one of the most powerful tools of financial management. Though ratios are simple to calculate and easy to understand, they suffer from serious limitations. Limitations of financial statements: Ratios are based only on the information which has been recorded in the financial statements. Financial statements themselves are subject to several limitations. Thus ratios derived, there from, are also subject to those limitations. For example, non-financial changes though important for the business are not relevant by the financial statements. Financial statements are affected to a very great extent by accounting conventions and concepts. Personal judgment plays a great part in determining the figures for financial statements. Comparative study required: Ratios are useful in judging the efficiency of the business only when they are compared with past results of the business. However, such a comparison only provide glimpse of the past performance and forecasts for future may not prove correct since several other factors like market conditions, management policies, etc. may affect the future operations. Ratios alone are not adequate: Ratios are only indicators, they cannot be taken as final regarding good or bad financial position of the business. Other things have also to be seen. Problems of price level changes: A change in price level can affect the validity of ratios calculated for different time periods. In such a case the ratio analysis may not clearly indicate the trend in solvency and profitability of the company. The financial statements, therefore, be adjusted keeping in view the price level changes if a meaningful comparison is to be made through accounting ratios. Lack of adequate standard: No fixed standard can be laid down for ideal ratios. There are no well accepted standards or rule of thumb for all ratios which can be accepted as norm. It renders interpretation of the ratios difficult. Limited use of single ratios: A single ratio, usually, does not convey much of a sense. To make a better interpretation, a number of ratios have to be calculated which is likely to confuse the analyst than help him in making any good decision. Personal bias: Ratios are only means of financial analysis and not an end in itself. Ratios have to interpreted and different people may interpret the same ratio in different way. Incomparable: Not only industries differ in their nature, but also the firms of the similar business widely differ in their size and accounting procedures etc. It makes comparison of ratios difficult and misleading. (Accounting Ratios | Financial Ratios) 2.6.2 SWOT analysis SWOT analysis is a tool that is used to evaluate the Strengths and Weaknesses of an organization and the external Opportunities and Threats faced by the organization in the external environment. Limitations of SWOT: The way SWOT analysis is often conducted does not allow for proper communication, discussion, and verification of all external and internal factors proposed by all involved. On such occasions, SWOT results prove less reliable an input to the strategy generation process than they are capable of being. Still worse, as documented later, the results of SWOT analysis are sometimes never meant to be used as an input to the strategy generation process. If that is known, or anticipated, by those involved in SWOT analysis, the quality of their inputs will most likely suffer and be lower than otherwise possible, and desirable.(KOCH, Adam J.) 2.6.3 Porter’s five forces analysis Porter looked at the structure of industries. In particular, he was interested in assessing industryattractiveness, by which he meant how easy it would be to make above average profits (forshareholders and to fund adequate investment). He concluded that industry attractivenessdepends on five factors or forces: Competitive rivalry between existing firms Threats of new entrants Threats of substitute products Power of suppliers Power of customers (Paper P3 Business Analysis Essential Text) Limitations of five forces model: Porter’s 5 forces of competition have a few weaknesses and limitations. The modelunderestimates the influence of a company’s core competencies on its ability to achieve profit.It, instead, assumes the industry structure is the sole determining factor. Porters 5 forcesdefinition is difficult to apply to large multinational corporations with synergies andinterdependencies achieved from a portfolio of businesses. Additionally, the five forcesframework assumes there is no collusion in the industry. Finally, Porter’s analysis doesn’tconsider the possibility of creating a new market. (Porter’s Five Forces of Competition , 2010) 3. ANALYSIS 3.1 PHARMACEUTICAL SECTOR 2009 was a challenging year and witnessed modest growth in Pakistan’s economy due to uncertain law and order situation and global economic recession. The economy continues to witness double digit inflation; low economic growth and continued depreciation of the rupee against major currencies. During this period the pharmaceutical industry has been adversely impacted by both inflationary trends as well as Rupee depreciation. The government has not allowed any across the board price adjustment to pharmaceutical industry for nine years. Growth in pharmaceutical markets is mainly volume growth. (BENGALI, Iqbal, 2010) Pharmaceutical Industry is one of the major manufacturing industries in Pakistan providing employment to thousands of people directly and indirectly. The industry, however, is facing many challenges, which are hindering its growth. The major challenge faced by the industry is the complete freezing of price of pharmaceutical products since 2001. Pakistan is the only cou ntry in the entire Asian region that has not given its pharma and biotech industry tax-breaks and R D incentives. Government’s requirement that drug production lines should be separate is raising cost and reducing the ability of local manufacturers to compete not only in the global market but even at home. (JAVED, Aamar, 2009) Pakistan has a very vibrant and forward looking Pharma Industry. At the time of independence in 1947, there was hardly any pharma industry in the country. Today Pakistan has about 400 pharmaceutical manufacturing units including those operated by 25 multinationals present in the country. The Pakistan Pharmaceutical Industry meets around 70% of the countrys demand of Finished Medicine. The domestic pharma market, in term of share market is almost evenly divided between the Nationals and the Multinationals.(Pakistan Pharmaceutical Industry) Pakistan’s $1.61 billion pharmaceutical market is now expected to post a five-year compound annual growth of 8.95 per cent, down from 9.39 per cent forecast in the previous quarter, according to Business Monitor Internationa l, a global business intelligence firm. (Pharmaceutical sector growth slowing down: BMI , 2010) 3.2 THE COMPANY As a result of the global acquisition of Wyeth by Pfizer Inc.,on October 15, 2009, Wyeth has become a wholly owned subsidiary of Pfizer Inc.. Pfizer Inc has become the ultimate parent company of Wyeth Pakistan Limited. Wyeth however continues to be the principal shareholder of Wyeth Pakistan Limited. (AHMED, Khawaja Bakhtiar, 2010) Wyeth, with its pharmaceutical and over-the-counter divisions, is a leader in the research and development, manufacturing and marketing of a broad range of health care products. (WYETH PAKISTAN LIMITED ) 3.3 RATIO ANALYSIS The following ratio analysis is based on the Annual Reports of WYETH and GSK Pakistan. Comparison has been made with the results of GSK for FY2009 since these were the latest financials available. Ratios 3.3.1 SALES Analysis GSK 2009 Sales Revenue (Rs. in million) Growth in revenue (%) Cost of sales. (Rs. In million) Growth in cost of sales.(%) 14,719 9.8% 11,173 17% FY2010 2,310 0.17% 1,830 1.4% FY2009 2,306 3.3% 1,805 8% FY2008 2,384 13% 1,699 22% 3.3.2 Profitability Ratios GSK 2009 24.1% FY2010 FY2009 FY2008 G.P Margin N.P Margin ROE 20.82% 1.13% 2.58% 21.73% -3.77% 8.86% 29.87% 6.04% 12.73% 6.3% 11.5% 12 3.3.3 Liquidity Ratios Current Ratio Quick Ratio Debtors’ Days Inventory Days 3.3.4 Investor’s Analysis GSK 2009 3.2 1.6 25 67 FY2010 2.56 1.01 26 163 FY2009 2.71 0.98 38 144 FY2008 3.43 1.38 29 143 Ratios GSK 2009 5.5 20 5 4.6% FY2010 FY2009 FY2008 Earnings per Share (EPS) (Rs.) PE Ratio (Times) Dividend Per Share (Rs.) Dividend Yield 18.61 49.08 10 0.92% -61.09 _ _ _ 101.50 25.62 250 10.55% Comments on Ratios The operating results of currents year are for a 12 months period ended November 30, 2010 compared to the previous year which for an 11 months period ended November 30, 2009. Sales analysis. The growth in company’s net sales for the period ending 30 November 2009 reduced by 3.3% as sales were Rs. 2,384 million in year ending 31, December 2008 and in 2009 period it was Rs. 2,306 million which is due to challenging conditions of external environment in 2009. On the other hand cost of sales for year ending 2008 was Rs. 1,699 million which increased to Rs. 1,805 million in period ending 2009. It was an increase of 8% which shows that company does not have efficient policies to control its operational expenditure. In year ending 2010 overall sales increased by 0.17% but as we mentioned above that this period comprises 12 months comparing last 11 month period and if we compare like with likes then sales reduced by 8%. This is due to due to uncertain law and order conditions of Pakistan. But this year company showed efficiency in controlling its costs as this year cost of sales increased by just 1.4%. This could be due to training and development of employees as training on six- sigma was conducted after the losses incurred by company in 2009. This training was to increase efficiencies of employees to control the cost. GSK: Sales of GSK are in year ending 2009 were Rs. 14,719 million as compared to Rs. 2,310 million of Wyeth which is due to major market share of GSK. Out of to 20 products 9 are manufactured and sold by GSK. Profitability analysis GP Margin: In year ending 2010 gross profit margin reduced as it was 21.73% in year ending 2009 and it was 20.82% in year ending 2010. This decrease was mainly due to adverse economical conditions of country as inflation increased and cost of resources and operations increased accordingly. In period ending 30 November 2009 the GP margin decreased from 29.87% in 2008 and 21.73% in 2009. In year 2009 the profit also reduced as compared to sales which is also mainly to due to increase in cost of operations. On the other hand the government has not allowed an increase in price since year 2001. The GP margin of GSK is 24.1% for year ending 2009 as Wyeth has GP margin 20.82% in year ending 2010 which shows that GSK has more ability to control its cost and transfer it to its customers. NP Margin: In period ending 30 November 2009 the net profit margin reduced from 6.04% in 2008 to 3.77%. The major cause of this reduction in profitability was the economical condition of Pakistan. Costs of operations increased due to inflation and at the same time the devaluation of currency. However, company maintained control on expenses as their advertising and promotion costs were in line with last year. Administrative cost increased due to cost of Voluntary Separation Scheme. Other operating expenses were lower than last year. NP margin for year ending 2010 increased to 1.13% from -3.77% in the last year. This improvement was due to increase in efficiency of employees and efficiently controlling the operational cost of company as the operating expenses reduced by 10% in year ending. There has been a long stand price freeze by the government since 2001 due to which company was not able to earn abnormal profits. The net profit of GSK was 6.3% in year ending 2009 which also reduced as it was 14.6% in 2008. This shows that the industry was adversely affected by increase in operational costs and long standing price freeze by government due to which companies cannot pass their cost to customers. ROE: Return on equity increased for year ending 2010 to 2.58% as it was -8.86% in year ending 2009 this increased was due to increased operational efficiency of organization. While in period ending 2009 the ROE reduced significantly from 12.73% to -8.86%. . ROE of GSK is 11.5% in year ending 2009 as compared to % of Wyeth. Liquidity analysis. Current ratio: Current ratio indicates how many times the company’s current assents can meet company’s current liabilities. A ratio of 2 is considered sufficient for current ratio generally. In the period ending 30, November 2009 the current ratio reduced from 3.43 times to 2.71 times. This shows that the company can meet its current liabilities 2.71 times by its current assets. This decreasing trend could cause an alarming situation for Wyeth because a company can survive without profits for some years but without cash it can’t survive more than one year. So worsening condition of Wyeth needs effective and efficient policies for fund management. Current ratio for year ending 2010 reduced to 2.56 times as it was 2.71 times in year ending 2009. This shows that now company can meet its current liabilities by 2.56 times. A ratio of 2 is a standard for current ratio. Company improved its working capital condition this year as they changed their sales and distribution model from credit to advance cash. Current ratio of GSK for year ending 2009 is 3.2 times which shows strong policies of funding are in place. Quick ratio: Quick ratio indicates how many times company’s current assets can fulfill its current liabilities but it ignores inventory from current assets because in some organizations inventory takes times before it can convert to sales. Quick ratio of Wyeth is reducing quicker than current ratio for years ending 2009Quick ratio for period ending 2009 also reduced from 1.38 to 0.98 times which was an alarming situation for Wyeth. It indicates that major part of current assets consist inventory and company’s inventory increased from last year due to increase in cost of materials. . Ratio of 1 is considered a standard for quick ratio so company’s liquidity is worsening. Quick ratio improved in year ending 2010 which is 1.01 times as it was 0.98 times in 2009. This is due to improved working capital management policies as company received cash in advance instead of credit. Due to which company earned interest on deposits too. Quick ratio of GSK for year ending 2009 was 1.6 whi ch shows a healthy liquidity position. Debtors Days: Debtors turnover period indicates how many days debtors take to pay their debt to company. Debtors are part of working capital and for the successful operations of company good debtor management strategies need to be in place. In period ending 2009 the debtor’s turnover period increased by 9 days as these were 29 days in 2008 and 38 days in 2009. During this year due to inflation and devaluation of currency the company had to extend debtors turnover period as company made loss after tax this year. In year ending 2010 company’s debtor days reduced to 26 days as compared to 38 days in 2009 this also shows the improvement in fund management policies as this year company received advance cash from sales and distribution instead of credit. Debtor’s days of GSK for year ending 2009 were 25. This shows that debtor collection policies of GSK are more efficient than Wyeth. Inventory days: Inventory days indicate the period during which inventory of a company remains in its warehouse or in work in progress before it is finally converted into sales. Inventory holding initiates many expenses like warehouse, damages etc. which can be mitigated by good inventory management policies in place. Inventory turnover period in 2009 increased by 1 day as it was 143 days in 2008 and became 144 days in 2009. This increase was nominal but instead improvement this increase was due to decreasing in underlying sales. Inventory days increased this year too from 144 days in 2009 to 163 days in 2010. This increase was mainly due to increase in inflation and instability of prices in material. Sales for this year was lower than last year. Inventory turnover period of GSK in year ending 2009 was 67 days which is less than half of Wyeth. This shows that GSK has more efficient working capital policies and sales of GSK were more than Wyeth which is due to the higher market share of GSK. Investor’s analysis. EPS Earning per share can be used to indicate the profitability of a company. It shows the earning allocated to each common share. In period ending 2009 the EPS reduced badly by Rs.162 per share. In this year company’s EPS was -61.09. This major decrease was due to consistent inflation and devaluation of currency of Pakistan. These factors became the reason for increase in operational cost. And due to the price freeze by government the company was not able to transfer the cost to customers. In year ending 2010 EPS increased from Rs. -61.09 last year to Rs. 18.61 this year. This year company made a net profit margin of 1.13% which was loss of (3.77) % in last year. This improvement is due to controlling the operational expenses of the company this year. The EPS of GSK for year ending 2009 was Rs. 5.5 which is consistent with previous years. PE ratio: The PE ratio of Wyeth moved adversely during last years. In year ending 2008 the PE ratio was 25.62 times while In year ending 2009 the company’s made a loss. Which was due to increase in cost which company was not able to pass to customers. In year ending 2010 PE ratio improved to 49.08 times which was nil in last year this improvement also due to improvement in operational efficiency of company during 2010 as the company improved its cash position as well as its productivity. The PE ratio of GSK was 20 which show good performance of GSK compared to Wyeth. Dividend per share Dividend per share ratio indicates the dividend earned by an investor by holding one share of company. There was no dividend per share in year ending 2009 as company was in loss. This loss was mainly due to adverse environmental, economical, and political situations. In year ending 2010 company announced the dividend of Rs. 10 per share which shows the attractive position of company in this year. Company improve its profitability as well as its operational efficiency during year ending 2010 as retrospective measures taken in 2010 like training on six-sigma plan. The dividend per share of GSK for year ending 2009 was Rs.5 which also indicates that company performed well in such crises. Dividend yield This ratio represents the cash flows earned by the investor by investing each rupee in form of shares. In year ending 2010 earning yield improved to 0.92% as it was nil in year ending 2009. This improvement was due to improvement in operational efficiencies during year ending 2010 while economical and political instability remained consistent in year ending 2010. In the period ending 2009 company made a loss. While GSK’s dividend yield in this year was 4.6% which shows the good governance of GSK as compare to Wyeth. 3.4 PESTEL ANALYSIS PESTEL analysis is a tool which is used to understand external environment. It deals with external environmental factors like political, economical, social and demographical, technological, environmental and legal. By considering these factors we can judge the influence of all above factors on the operations and profitability of any company. Political factors. In political factors we consider the government policies like tax policies, their stability, political environment and institutions. In 2008 there was instability in political conditions of Pakistan which adversely affected the pharmaceutical industry. Policies of government about electricity price raises also contributed adversely to pharmaceutical industry. Government’s price freeze policy since 2001 also reduced the profitability because firms were not able to transfer their increasing operational cost to the customers. In the last quarter of 2008 government gave some relaxation on price increase but that was for some products that did not contribute too much to improve the conditions of profitability. Economical factors: Inflation (too much money chasing too few goods) remained the major problem of Pakistan in the last few years. Due to consistent rise in cost of electricity, labor, and fuel the profitability of pharmaceutical industry reduced as firms could not increase prices according to cost due to limitation by government policies. But demand in the public remained unchanged. Devaluation of Pakistan currency also adversely affected the industry as value of rupees consistently reduced against major currencies of world especially against US$. Due to which many firms had

Chaucer and The Canterbury Tales :: Essays Papers

Chaucer and The Canterbury Tales The Canterbury Tales is about an unrelated group of twenty-nine pilgrims traveling together on a pilgrimage. One of the major aspects of the journey is the unique diversity of the characters. There are knights, nuns, monks, lower-class tradesman and single women. They interact together and tell each other their tales. GRAPH According to the Norton Anthology, "Chaucer's original plan for The Canterbury Tales projected about one hundred twenty stories two for each pilgrim to tell on the way to Canterbury and two more on the way back. Chaucer actually completed only twenty-two, although two more exist in fragments" (Norton 79). One of the characteristics that makes Chaucer's work so convincing is his ability to present characters that have real life qualities. Many women can relate to the Wife of Bath, and many college students can relate to the Squire with his lady friends. The narrator of the tales is Geoffrey Chaucer himself: but he speaks though a variety of media: "...Chaucer's pilgrim narrators represent a wide spectrum of ranks and occupations. The great variety of tales is matched by the diversity of their tellers; tales are assigned to appropriate narrators and juxtaposed to bring out contrasts in genre, style, tone and values" (Norton 79). The opinions about Chaucer as the pilgrim and as the poet are very different. Chaucer the Pilgrim is the narrator of the tales, and he must give an accurate description of what is going on, even if he disagrees with the character's action. First Chaucer the Pilgrim talks about nature and the seasons. He tells us that he is joined by several people on a journey to Canterbury. He talks about all the people involved in the pilgrimage. First he talks about the knight and then Chaucer talks about the knight's son, then the Yeoman, the Wife of Bath, the Monk, the Merchant, and the Clerk. Chaucer and The Canterbury Tales :: Essays Papers Chaucer and The Canterbury Tales The Canterbury Tales is about an unrelated group of twenty-nine pilgrims traveling together on a pilgrimage. One of the major aspects of the journey is the unique diversity of the characters. There are knights, nuns, monks, lower-class tradesman and single women. They interact together and tell each other their tales. GRAPH According to the Norton Anthology, "Chaucer's original plan for The Canterbury Tales projected about one hundred twenty stories two for each pilgrim to tell on the way to Canterbury and two more on the way back. Chaucer actually completed only twenty-two, although two more exist in fragments" (Norton 79). One of the characteristics that makes Chaucer's work so convincing is his ability to present characters that have real life qualities. Many women can relate to the Wife of Bath, and many college students can relate to the Squire with his lady friends. The narrator of the tales is Geoffrey Chaucer himself: but he speaks though a variety of media: "...Chaucer's pilgrim narrators represent a wide spectrum of ranks and occupations. The great variety of tales is matched by the diversity of their tellers; tales are assigned to appropriate narrators and juxtaposed to bring out contrasts in genre, style, tone and values" (Norton 79). The opinions about Chaucer as the pilgrim and as the poet are very different. Chaucer the Pilgrim is the narrator of the tales, and he must give an accurate description of what is going on, even if he disagrees with the character's action. First Chaucer the Pilgrim talks about nature and the seasons. He tells us that he is joined by several people on a journey to Canterbury. He talks about all the people involved in the pilgrimage. First he talks about the knight and then Chaucer talks about the knight's son, then the Yeoman, the Wife of Bath, the Monk, the Merchant, and the Clerk.

Partner Abuse Essays -- essays research papers

Partner Abuse Table of Contents Introduction 1 Literary review 1 Sampling 4 Data Collection 4 Data Analysis 4 Conclusion 6 Work Cited 7   Ã‚  Ã‚  Ã‚  Ã‚  Hypothesis: Do students believe that partner abuse is a problem on college campus.   Ã‚  Ã‚  Ã‚  Ã‚  Domestic violence spans the range of violent encounters and includes physical assaults, sexual assaults, verbal assaults, intimidation, threats, extreme emotional or psychological neglect and even death. The hypothesis of this paper is do students believe that partner abuse is a problem on college campus. To find out this I will include a literary review, which will include theories of why it might occur and prof from other sources. Most important a survey given out to Curry college students and its results will be included. I choose this topic to educate students on the violence in dating relationships. Literary review   Ã‚  Ã‚  Ã‚  Ã‚  Partner violence is typically defined as an act carried out with the intention of causing physical or mental pain to another person. Partner abuse is not only important as a phenomenon in itself but also because it precedes marital violence and thus may provide a link in transmission of violence. Here are some theories that may provide some reasons how partner abuse occurs and the prof that it is a problem on college campuses.   Ã‚  Ã‚  Ã‚  Ã‚  On theory of dating violence is the social learning theory. This theory examines the effects of either experiencing abuse as child or witnessing abusive between one's parents. Reachers of dating violence have found that there is a history of abuse is related to later involvement in an abusive relationship for both males and females. Also, found that having been abused as a child predicted later involvement in abuse for women but not for men. Abusive men were more likely to have witnessed violence between their parents than were women in an abusive marriage. Similarly, found that although more abused wives, they still were less likely to have witnessed marital violence than had non husbands. Therefore, although a history of either witnessing or experiencing abuse seems of either witnessing or experience abuse seems prevalent between men and women in abusive relationships, the exact nature of that influence on men and women remains unclear. (Alexander, Pamela C Journal of marria... ...o abusive situations.   Ã‚  Ã‚  Ã‚  Ã‚  The two most important findings that support my hypothesis. The first was that 75% of the surveyed stated that yes they have seen an incident of abuse either physical or verbal on campus. The second was that 60% of the student surveyed felt it was a problem on Curry colleges campuses. It has been shown in this paper that domestic abuse in the form of partner abuse is a problem on college campuses. I feel that this topic should be researched more widely and should be dealt with. Work Cited Alexander, Pamela C. Journal of marriage and the family What is transmitted in the   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  interggenerational transition of violence. 53, August 1991: p657-667 Caulfield, Marie B Journal of interpersonal violence The Assessment of dating aggression:   Ã‚  Ã‚  Ã‚  Ã‚  Empirical evaluation of the conflict tactics scale v7 n3 sep. 1992: p350-64 Deacon, James Maclean's Sexes what is ‘abuse'? v106 February /22/ 93 p54 LeJeune, Chad Journal of interpersonal violence Taking Responsibility: sex differences in   Ã‚  Ã‚  Ã‚  Ã‚  reporting dating violence v.9 n.2 p181-94 1995

Burn out of social workers in the work place Essay

Social workers are people committed to better the lives of others and this is done through varying capacities. Some work with families, children as well as in school while others work in the medical field especially those dealing with mental health. They assist people to amicably deal with domestic conflicts, disabilities, challenging health conditions, economic problems that precipitate housing problems, unemployment as well as issues like drug and substance abuse. (www. bls. gov). Their role in policy making can also not be underscored given their efforts in conducting research and making relevant recommendations as to the best or appropriate strategies. Social workers are also quite influential in the adoption processes as well as single parent assistance. Medical and public health social workers are committed to offering psychological support to people with life threatening conditions for instance HIV Aids and Alzheimer’s disease patients. Social workers can also work in local authorities as well as in government. In pursuit of making the lives of others worth the while, social workers in their respective fields are faced by many challenges. (www. bls. gov). They have to be in constant movement from their offices to where their clients are located and back to their offices where clerical work is done. Most often than not they experience burn outs while in their work a condition that affects their productivity levels. The focus of this paper is to explain why burn out occurs among the social workers, it will illustrate how it occurs, its effects on the organization and thereafter suggest that appropriate solutions to resolve it. The term ‘burn out’ is used to refer to the process or state of mental exhaustion that has a high impact on one’s productivity. In the book Handbook of human factors and ergonomics in health care and patient safety, Carayon presents some signs and symptoms of burn outs in the work place. Burn outs leads to anxiety and lack of zeal. It causes depression and mental exhaustion, poor concentration and memory as well as increased instances of absenteeism and general poor productivity. (Carayon P, 2006). Burn outs are not good for any profession in any organization. They cause a negative impact on interpersonal communication among the various employees in an organization would definitely have a bad effect on the company’s output. (Azar T, 2000). Burn outs increases people irritability and minor issues are magnified and this can be a source of conflicts among the various employees. The overall effects of burn outs are transferred from the individuals affected to the organization as a whole. Organization risk registering high dissatisfaction levels, increased job turn over as well as low morale. In Carayon’s book burn out is defined as ‘the persistent negative work related state of mind that is characterized by exhaustion which is accompanied by distress, a sense of reduced effectiveness and the development of dysfunctional attitudes and behaviors at work’. (Carayon P, 2006). This psychological problem develops gradually and may initially be unnoticed. It arises from the contrast between one’s objectives or intentions and the reality at the job. In most cases burn outs are caused by the adherence of inappropriate or rather inadequate stress coping mechanisms. Prolonged job stress leads to burn outs among the employees in question. Burn outs lead to decreased motivation and creates anti work attitudes. (Carayon P, 2006). Social workers in the various fields experience burn outs while in their work places. This occurs when the organizations they work for fail to meet their high goals and expectations. They feel dissatisfied with their work and this dissatisfaction leads to feeling of disappointment and grief. (Soderfeldt M and Soderfeldt B, 2003). According to a 2006 research it was clear that most social workers are not contented with their work. A high percentage reported high levels of job dissatisfaction and were ready to leave their various organizations. According to them, the value of the work they did was not equivalent to the pay they received. (The Royal College of Psychiatrists, 2006). Social workers suffering from burn outs may feel detached with their clients and this will definitely affect their productivity levels. (Takeda F et al, 2005). Although different people will react differently to burn outs some could isolate themselves and have poor eating and sleeping habits. Others may find solace in alcohol or smoking all of which has a negative effect on their health. The relationship between the social workers experiencing burn outs and their clients as well as with fellow workmates is negatively affected by burn out as it triggers anger. (Lewandowski A, 2003). Organizations suffer economically whenever social workers leave due to the burn out problems. They incur the costs of hiring new employees and training them to be effective. This is made worse by the fact that they have the constraint of scarce resources. Organizations or agencies that fail to address the issues presented by their employees in this context the social workers are more likely to register higher incidences of job turnover which translates to increased costs. (Lewandowski A, 2003). A major cause of the increased instances of burn outs among the social workers is attributed to lack or failure by some agencies to involve them in the decision making processes. The lack of autonomy and the increased bureaucratization in their work place makes them feel alienated or isolated. (Lundy C, 2003). The problems to be handled by social workers become difficult by the day and this demands that the organizations adjust with the changing times if amicable solutions are to be arrived at. In her book, Social work and social justice, Lundy explains that social workers have a challenging job. Financial constraint is a major set back hindering their efficiency or productivity. They have to undergo or rather face job related stress as they try to allocate the minimal resources to match the overwhelming demands. The structure of the social welfare delivery, the mandate of the agencies they work for as well as the needs of their clients also lead to increased stress which precipitates burn outs among the social workers. (Lundy C, 2003). Most social workers are in the job due to a call or vocation to help others and the failure to involve them in the decision making process hinders their effective performance. (Kreisher K, 2002). Great control of funding sources also has a negative effect on the level of satisfaction that social workers derive from their work. The reduced commitment by the government to boost the welfare sector has led to the reduction of funds which makes social work a very challenging profession. (Lewandowski A, 2003). Without the autonomy or involvement in the decision making process they are denied the chance to apply their findings or expertise to directly affect their practice. This hinders the effectiveness of various welfare programs and on not realizing their goals they are frustrated and feel helpless. The ineffectiveness of the sector that they work for may have a direct negative impact on the social workers. They may place themselves in the shoes of their clients who could be victims of abuse or violence and live in fear especially with the knowledge of how ineffective the system is. (Kreisher K, 2002). Given the emerging social and economic conditions, the involvement of social workers in the decision making process would be more of a necessity then a requirement. This would ensure that there is effective division of labor and the work load could be minimized. Workload has negative effects on the employees’ health. This can be backed by a 1999 survey by the Canadian Union of Public social workers which established that increased work load among the social workers in the development services in children aids societies had a negative impact on their well being. To a tune of 87% social workers in the various fields confessed that the increased work load had a negative on their health. (Kreisher K, 2002). Work overload precipitates burn outs. With minimal finances at their disposal, agencies or organizations dealing with welfare hire fewer people than would be required a condition that sees the social workers with a large work load at their disposal. The social workers job predisposes them to risks of physical and verbal abuse and threats at work all of which have negative implications on their mental, physical and social well being. It also has an effect on their job satisfaction levels. In the article ‘Burned out’ Kreisher Kristen argues that the poor pay given to social workers dealing with children and the youth, in the face of the tough economic times has a big role to play in boosting ‘burn outs’ among the social workers. Their job demands are increasing while their reward or pay is dwindling and this is a major disincentive for them. There is need for the welfare organizations to adjust the compensation rates to match the difficult economic times. (Kreisher K, 2002). As Lewandowski in Organizational factors contributing to worker frustration: The precursor to burnout notes disappointments among the social workers have also been aggravated by the fact that their roles or responsibilities have changed and are in contrast with their expectations. Instead of spending more time with their clients in the field they spend more time carrying out clerical work. (Lewandowski A, 2003). For the agencies or organizations accountability is of essence as they are under pressure from the financiers to show how their resources are spent. In other words the agencies are more concerned with the number of people served while the social workers are more concerned with the quality of services provided. The social workers pay is at times affected by gender bias where for instance women dealing with children are lowly paid. (Kreisher K, 2002). The burn out problem can be resolved if appropriate strategies are adopted to help the social workers face the challenges in their work effectively. Prevention of burn out can be handled both at an individual level as well as at an organizational level. Social workers can be advised to take well balanced diets, have enough sleep, talk with their workmates and share their challenges as well as create some time away from the stressful conditions. Social networks are vital as they enable one to connect with their friends and make the stress that they face easier to deal with. Identifying hobbies that would ease the work tension and pressure is also an effective way of reducing the effects of burn outs. Of mush significance is the role of organizations in resolving burn outs among the social workers. Organizations must adapt all inclusive strategies where social workers have a significant role in the decision making process. (Azar T, 2000). This makes them feel appreciated for the roles they play in the organizations. To enable social workers better manage the challenges attached to their work it is important that the social work curriculums be modified to train them on the appropriate ways to handle complex situations. Spending more time training would also ensure that they acquire immense knowledge on how to deal with real life situations. Mentorship programs would also suffice in resolving the problem of burn outs. Strong mentorship where older and experienced social workers share their experiences with younger and inexperienced social workers will provide them with adequate knowledge on how to deal with difficulties while in this job. It will reduce their job stress as they will understand that it is part of their job. Mentorship also provides them with relevant solutions to would be problems while in their jobs. Strong supervision is also vital in ensuring that work load problems that cause burn outs are effectively handled. (Kreisher K, 2002). An organization culture is also crucial in creating or reducing burn out in the work place. Positive cultures must be embraced by all means. Organizations with positive cultures go the extra mile to ensure employee retention. They make them feel that they are part of the organization and involve them in the decision making processes. They also provide financial incentives like paid vacations and health benefits. Team work is also embraced in such organizations and it ensures that job stress does not have adverse effects on the employees. Supportive co workers are essential in reducing job related stress. (Kreisher K, 2002). Organizations must also invest in making the work place safe such that the risks of being physically harmed are minimized. They can train the employees on how to deal amicably with incidences of violence. The effects of social workers burn outs on the individuals, clients and on the organizations are not desirable. The organizations must by all means ensure that employees are retained as increased job turn over sees them lose skilled, experienced and dedicated employees. They must therefore be committed to minimize the job stressors in the work environment to curb burn outs. References Azar T. 2000. Preventing burnout in professionals and paraprofessionals who work with child abuse and neglect cases: A cognitive behavioral approach to supervision. Psychotherapy in Practice, 56, 643-663. Colleen Lundy. 2003. Social Work and Social Justice: A Structural Approach to Practice. Broadview Press. Fumi Takeda. Naoko Ibaraki, Eise Yokoyama, Takeo Miyake and Takashi Ohida. 2005. The Relationship of Job Type to Burnout in Social Workers at Social Welfare Offices. Journal of Occupational Health Vol. 47 (2005), No. 2 119-125 Kristen Kreisher. 2002. Burned Out Children’s Voice Article, July/Aug 2002. Retrieved on 12 August 2008 from http://www. cwla. org/articles/cv0207burnedout. htm. Lewandowski A. 2003. Organizational factors contributing to worker frustration: The precursor to burnout. Journal of Sociology and Social Welfare, 4, 175-185. Pascale Carayon. 2006. Handbook of Human Factors and Ergonomics in Health Care and Patient Safety. Routledge Publishers. Soderfeldt M and Soderfeldt B. 2003. Burnout in social work. Social Work, 40, 638-647. Social Workers. Outlook Handbook, 2008-09 Editions. Retrieved on 12 August 2008 from http://www. bls. gov/oco/ocos060. htm The Royal College of Psychiatrists. 2006. Mental health, burnout and job satisfaction among mental health social workers in England and Wales. The British Journal of Psychiatry (2006) 188: 75-80. doi: 10. 1192/bjp. 188. 1. 75.

Ace Fertilizer Ima

Ace Fertilizer Company Abby Conroy was tasked with calculating an effective quote for Breeland Ltd. , she chose the activity based accounting costing system since it more accurately captures the related costs. A special order was placed by Breeland Ltd. with Ace Fertilizer Company. The did not plan to order more of this product in the future. Based on Ace’s policy, the special order included disposal costs for any used materials in the event no other orders existed for the unused materials at the time the Breeland contract was signed.Abby correctly calculated the total direct material and labor costs and accurately arrived at the indirect costs using the ABC method and used cost activity pools that make sense for the company and product. She incorrectly included the organization-sustaining costs which are not related to any specific product so should not be included. Abby incorrectly calculated the mark up cost by dividing 80% from the cost rather than multiplying so the marku p and the total cost to Breeland has been overstated by $193,500.This would ultimately produce a higher profit with lower costs and a higher customer margin but would be inconsistent with Ace 80% markup policy. Revisions could be made and an accurate quote could be provided to Tom Brennen for approval. During personal time over the weekend, George was presented with a possible opportunity to sell the unused portion of Breelands special order materials to his brother Josh. On Monday, George wanted to leave the Breeland quote as is, whereas Abby wanted to revise it to exclude the sale of materials to Josh plus additional charges.George is correct to leave the quote unchanged, since there are no new orders for the additional XO-1600 yet even though he and Josh discussed it during personal time. Company policy dictates that the special order customer would be billed for unused materials in the absence of another existing order for the same materials. It would be putting the cart before the horse to recalculate new costs and inform Breeland of a possible price revision before Josh confirms, especially since the information exchange occurred over the weekend during a personal family event.It is likely that Josh will purchase the additional 10 gallons of product but that can’t be confirmed until later in the week. It is not correct however that Breeland should incur those material costs if Josh does purchase them. George is not correct in how he would handle the transaction with Breeland should Josh purchase the materials. The materials should not be double billed and disposal fees should not be incurred by Breeland if this event never occurs.From an IME standpoint, Abby’s costing calculations were flawed which speaks to her competency as a management accountant, but her integrity was consistent with IMA ethical standards. Her markup mistake was most likely a clerical one only that could easily be fixed however including organization-sustaining costs in the client quote is a larger concept level mistake. The first error places a small black mark against her level of competence. Since she has developed an excellent level of expertise with Ace, I would suggest that it could be overlooked.The second error however is larger and would suggest her level of competence might be questioned. Following Georges’ conversation with Josh, Abby was keen on modifying the bid to include a materials reduction of $16,000, elimination of the $10,000 disposal fee for unused materials and a reduction in organization sustaining overhead costs of $52,000. Including the 80% markup, this would save Breeland $93,600 if Abby’s original quote had been correct and the numbers were not modified to remove the organization-sustaining error.It is clear that reworking the original quote to accommodate a new client would benefit Breeland, however the conversation between George and Josh was personal and not final, even though Josh was able to preliminar ily confirm he would place the order. The original quote would represent a more timely quote since future prospects had not yet materialized and would be consistent with Ace’s company policy. Since Georges’ conversation with Josh would be considered confidential in nature with respect to Breeland, it would limit Abby’s permission to inform them of any possible rework of the quote without express consent or approval of George.Since Tom Brennen would need to review any reworked quotes anyway, it doesn’t seem likely that Abby would violate any confidentiality requirements as directed by IMA Standards. Georges’ suggested game plan of billing the products twice could be seen as a misuse of confidential information since he is confident Josh will buy the materials but is still willing to move forward with the Breeland quote without disclosing the possibility of Josh’s purchase to Tom.George may also be engaging in a conflict of interest by using h is brother and information gained in a non professional environment as a means to unethically increase revenue. It would also represent a departure from ethics and integrity as an activity that discredits the profession since it lacks communication with Breeland. If Josh does confirm he will purchase the materials within the 20 day usable product window, it would represent additional and more timely information and should signal Abby’s recommendation to revise Breeland’s quote, even if it is after the fact. It is a timing issue.If George does provide the Breeland quote to Tom ‘as is’ and does not discuss with him the implications of his prospective new client on the numbers provided, he would be weakening his own credibility since it would represent a lack of information disclosure to Tom. It could be argued that he is providing the quote fairly and objectively but, it lacks the insight of how the new client would change the numbers in Breeland’s fa vor and precludes the possibility of client double billing, an important fact to support disclosure of all relevant information communicated fairly and objectively.I think Abby is correct in advising George that a possible rework of the quote is in order although based on the confirmed information, the current Breeland bid should go forward as is with a caveat that it could change with the confirmation of Josh as a new client if he is engaged before the Breeland quote is signed. Since the meeting will take place between George and Tom on Wednesday and the details of Joshs’ possible purchase are expected to become known ‘later in the week’, it makes sense to wait a day or two before making the decision.It is also possible that Josh may not make the purchase. Ace is one of the few companies’ nationally that is able to produce the product, it seemly unlikely that Ace would risk losing their business by asking for a few extra days to confirm final details of t he quote. No mention of Josh’s possible order is necessary. Tom should be given full disclosure by George of the impact on profitability of both scenarios. These would include: 1). the order ‘as is’ without the prospect of Josh placing an order, 2). he revised order based on Abby’s recommendations of reducing XO-1600 materials cost, disposal cost and markup, and the additional sale of the remaining 10 gallons of XO-1600 to Josh, including shipping charges and 3). Two separate quotes that would include the original quote to Breeland executed as is, then a contract signed later with Josh followed up with a revised contract with Breeland eliminating the disposal cost and the additional materials cost. The quote o Josh should not include organization-sustaining costs since they are not considered product costs. Abby recommends that George inform Tom about the prospective use of the extra 10 gallons. If George is unwilling to do so, she should also be willing t o speak directly with Tom about the Breeland quote changes, if applicable. It is not known what Ace’s policy is regarding resolving issues with questionable ethical implications. If necessary, Abby may contact an IMA Ethics Counselor to gain a better understanding of how she should proceed.The case study suggests this issue is a matter of how a management accountant might proceed in light of a shortfall of required monthly profit goal, in that is may be perceived as a way to make up the shortage. It is also mentioned that neither profit scenario would provide the desired result of reaching the monthly goal. The management accountant should see this as an ethical issue and not a function of whether one scenario or the other will produce the desired result.If Abby were to revise her original assumptions and excluded the organization-sustaining costs per required by the ABC method she is using, she would have noted a reduction in the bottom line of $18,000, which represents the disposal fee plus an 80% markup. Clearly, the scenario George likes would net the larger bottom line at $802,800, an increase of $28,800 in the bottom line of the Breeland Ltd order alone. This could be a potential lapse in judgment based on a desire to get closer to a proposed profit goal if he doesn’t discuss the possible purchase by Josh with Tom.From a policy standpoint however, George is doing the correct thing, although from a fairness standpoint, Josh’s possible order must be considered. Three scenarios are included which outline how each quote will affect the bottom line. If the original quote is signed by Breeland and moves forward without a purchase by Josh, the bottom line will be increased by $774,000. If Josh is given time to confirm and execute an order with Ace for the 10 gallons of material prior to the Breeland quote signing, Ace bottom line will be reduced by $18,000.If Breeland signs the quote, then later Josh signs a contract for the remaining mater ials and the materials are double billed, the company bottom line would be increased by $802,800. This is ultimately an issue with areas that need insight from IME ethical standards, especially with respect to communicating information to Tom Brennen. It seems a case in which company policy might be overlooked in order to maintain a standard of fairness while also being honest about product and customer treatment.