Meaning of Life and Success Essay

Extended Definition Essay Success The most Important thing In my life Is thought to be happiness. In order to achieve success you must adjust to very situation with ease. Success Is It the process of doing a task and receiving a positive result, or Is It simply achieving ones own personal goals. According to The American Heritage dictionary success Is, â€Å"the achievement of something desired, planned, or attempt†. The word success itself means to achieve your goal or get the point that you looking for. Some people success meant to them to be rich or to finish school and work high pay Jobs. But for me success means more han that. Success means to me have peace and love; also to get married and to enter heaven after this life is over. To be sure, everybody who has peace and love is a successful succeeding person. Wthout peace and love there is no success. You wake up in the morning and you don’t worry about anything that day; that is success for me, because the life is short, you dont have to be concerned about anything. Also if you have a family that loves you and is always happy for what you are doing, that is success. In addition, if you take care of your old parents and they love you and they live a happy life, which is uccess tor me. Additionally, success Is also something that Is viewed differently In the eyes of everyone. This is because success means doing what I have always wanted do being where I have always wanted to be. My goal In life Is to eventually get married toa good wife and have many happy children and If I accomplished that, then I could view myself as having success. Lastly, meaning of success for me Is to enter the heaven after this life Is over. We know that life in this world is too short, and we don’t know when we are going to die and what we are going to get after this life. That is a simple answer; do good deeds in this world and you are going to be successful in the Ife hereafter. That means you enter the heaven for sure and that is big reward from God to his mankind. There is no dying after this life; that means f you dont enter the heaven you will be the loser and who ever go in the heaven will be the winner. In conclusion, I still agree with the Idea I presented: however according to the dictionary and many other resources, success means to them achievement. But according to my own opinion success means to believe the ones of God, and to have eace and love in your whole life, and to get in heaven the life hereafter. Meaning of Life and Success BY elm12696 The most important thing in my life is thought to be happiness. In order to achieve success you must adjust to very situation with ease. Success is it the process of doing a task and receiving a positive result, or is it simply achieving one’s own personal goals. According to The American Heritage dictionary success is, â€Å"the achievement of Without peace and love there is no success. You wake up in the morning and you you don’t have to be concerned about anything. Also if you have a family that loves uccess for me. Additionally, success is also something that is viewed differently in the eyes of where I have always wanted to be. My goal in life is to eventually get married to a good wife and have many happy children and if I accomplished that, then I could Lastly, meaning of success for me is to enter the heaven after this life is over. We this world and you are going to be successful in the life hereafter. That means you no dying after this life; that means if you don’t enter the heaven you will be the loser In conclusion, I still agree with the idea I presented: however according to the

Bus401 Mini Case Chapter 9

Percentage of future financing Type of financing Bonds (8%, $1,000 par, 16- year maturity38% Preferred stock (5,000 shares outstanding $50 par, $1. 50 dividend15% Common equity47% Total100% A. Market prices are $1,035 for bonds, $19 for preferred stock, and $35 for common stock. There will be sufficient internal common equity funding (i. e. , retained earnings) available such that the firm does not plan to issue new common stock. Calculate the firm's weighted average cost of capital. BondsPreferred stockCommon Stock 1035-15% (155. 25) = 879. 75 1. 50/(19-2. 01) 16. 99 = 8. 83% 2. 65/35 + . 06 = 13. 57% 9. 9% 9. 49% (1-. 34) = 6. 26% WeightsAfter tax captialProduct Bond 0. 38X6. 26%=2. 3788 Preferred Stock0. 15X8. 83%=1. 3245 Common Stock0. 47X13. 57%=6. 3779 10. 08% B. In part a we assumed that Nealon would have sufficient retained earnings such that it would not need to sell additional common stock to finance its new investments. Consider the situation now when Nealon's retained ear nings anticipated for the coming year are expected to fall short of the equity requirement of 47% of new capital raised. Consequently, the firm foresees the possibility that new common shares will have to be issued.To facilitate the sale of shares, Nealon's investment banker has advised management that they should expect a price discount of approximately 7%, or $2. 45 per share. Under these terms, the new shares should provide net proceeds of about $32. 55. What is Nealon's cost of equity capital when new shares are sold, and what is the weighted average cost of the added funds involved in the issuance of new shares? Common Stock 2. 65/32. 55 + . 06 = 14. 14% WeightsAfter tax captialProduct Bond 0. 38X6. 26%=2. 3788 Preferred Stock0. 15X8. 83%=1. 3245 Common Stock0. 47X14. 14%=6. 6458 10. 35%

Case Analysis on two firms operating in two differenct countries Essay

Case Analysis on two firms operating in two differenct countries - Essay Example A business environment consists of a number of factors that help a firm to grow and develop as well as subsequently witness a decline in the same; these factors may be ranging from socio-cultural and political to economical, legal, ethical as well as technological aspects. There are a number of key factors that help a firm to meet its organisational needs and most of them depend on these. All these factors coupled together help a firm either meet or fade away from reaching its goals. Thus, it is imperative for every business manager to be able to mark out the various factors within the environment and use it to the opportunity of the firm and not let it hinder the process of meeting the desired results. The political factors within a business environment consist of the kind of government that has established itself in the respective economy and the way it lets the economy operate. Adhering to government rules and regulations is vital for each and every enterprise in order to grow and develop within the economy. If the political environment is not stable enough, then the enterprise might have to face restrictions on growth and development and undergo obstacles. Thus, the government should be able to let the firm take its own decisions and thus decentralise a certain amount of power in terms of corporate significance. Ethical issues are most often talked about by people because these are on the basis of what individuals deem is moral in society. Most enterprises need to be ethical in order to be able to survive. This is because customers are the main reason because of which firms run, and if they see that firms are not being ethical in terms of demand and supply of products and materials, they will not indulge in making purchases. Business ethics thus need to be followed in terms of keeping the employees happy and satisfied as well as meeting each and every need of the customer without causing much harm or damage to the environment. Economic issues crop up due to the rise and fall of the economy that the enterprise persists within. His refers to the demand and supply of products within the economy. Since every economy depends heavily on these two main factors, firms must ensure that their customers are being supplied with the demand that they require. If not, then firms might face a downturn and have to shut down on their production scales as they will not be able to cover their costs and expenses. Finally, every management within an enterprise also has to take measures in order to understand the legal aspects of the business environment. This refers to the laws laid down as per which businesses can establish and run themselves. This forms a very important aspect of any firm within an economy because a firm may fall into trouble due to dealing with illegal activities and products. In a nutshell, the various aspects of the four factors within the business environment has been talked about within this paper with the help of two firms that are experiencing them. Two firms named Firm X (Amarchand and Mangaldas) and Firm Y (Clifford Chance) have been hypothetically created for the purpose of this paper... This paper helps to position a strong and in depth analysis of these two firms on the basis of the business environment that they are surviving within. It helps to present the political, ethical, economical as well as legal aspects that both the firms are subject to. This paper also helps to provide an

Behavioral finance Coursework Example | Topics and Well Written Essays - 1750 words

Behavioral finance - Coursework Example To establish the influence of cognitive, affective and social aspects on investment decision making, and the role of psychological and social factors in financial market behaviour, this essay discusses what might cause perceptions of risk to be inaccurate,. Risk is an amalgamation of the probability or frequency of occurrence of a distinct hazard and the magnitude of the consequences of the occurrence (Botterill & Mazur, 2004, p.1). It defines how often a particular harmful event is expected to occur and consequences that such an occurrence is expected to cause. In terms of investments, risk may be defined on the basis of the amount of loss expected to be incurred when an adverse occurrence happens or is expected to happen frequently. Therefore, perceptions of risk are constructed on the basis of individual beliefs, societal perceptions and expert perceptions. Most people perceive risk as a possibility of bad outcome, whenever a choice is made. Therefore, in many instances, risk taking is not regarded as a potentially positive activity. However, there are instances, though few, where risk taking is perceived as a positive activity, with the potential of creating benefits to an investor. There are significant gaps between perceived risk and measurable probabilities of risk. The evident widely acknowledged differences between perceived risk and actual risk suggests that in most cases; perceptions of risk are inaccurate. This is evident when significant differences are recorded in terms of what is perceived and what actually happens in terms of real investment risks (Botterill & Mazur, 2004, p.3). Therefore, various people understand and respond to risk in various ways, based on psychological and social factors surrounding them. One of the factors that influence perception of risk, and most probably leads to an inaccurate perception of risk is the

Whether Gill Can Claim the Flat Under Implied Trust Essay

Whether Gill Can Claim the Flat Under Implied Trust - Essay Example The remedy to these issues lies in the law of Property. The law provides for rights over property. Those rights are legal and equitable rights. Trust creates equitable rights. Common law recognizes legal rights. Equitable rights are also enforceable in common law but they are enforceable in personam, i.e. they are enforceable against only a particular person i.e. particular trustee. Whereas legal rights on the property are rights in rem, which are enforceable against anyone. The statute classifies the interest in the property as commercial and family interest. The commercial interest in property is derived generally by buying and selling of the property, such transaction is registered under the law thereby creates legal right over the property. The family interest is the equitable interest like life interest in the property such interest is created by family settlements or formal testimonies like will. The Law of Property Act, 1925 provides for Co-ownership. When two or more persons hold interests in a property their ownership over the property is said to be co-ownership and each of them is called tenants. The term tenant used in this statute differs from that used in the lease. Under the co-ownership, each tenant has the right to live on or share in the property during his or her lifetime. This co-ownership is of two types - Joint Tenancy and Tenancy in common. In case of death of any of co-owners his/her interest is devolved to the surviving tenant. In joint tenancy, the ownership of the property is retained upon all tenants as single ownership. They are not entitled to devolve their share in the property by will but the law permits to dispose of it during a lifetime.

Oil Business and Power in Middle East Essay Example | Topics and Well Written Essays - 500 words

Oil Business and Power in Middle East - Essay Example These major oil exporting countries were undeveloped and poor before the discovery of oil. There was deficiency of money as well as technology necessary for mining and marketing the oil therefore the developed and well industrialized countries of the world took advantage of that situation and offered help for exploring the areas likely to enclose larger oil reservoirs. The Government of indigent Middle East countries made several agreements with these stable countries and allowed them to mine the oil resources. The oil business persuaded foreign intercession and it resulted in political stability among these nations (Bird, and Brown). Development in social condition in Middle East countries has been observed since after the expansion of oil business and power. The regime of oil exporting Middle East states spend the per annum yield of petroleum trade on the financial stability of the country. In addition to it, the profit from oil export increases the net income of citizens and it ul timately results in raising the living standards of common man.

Real Life Experience of an Entrepreneur Through an Open Ended Essay

Real Life Experience of an Entrepreneur Through an Open Ended Interview - Essay Example Moreover, certain learning models as well theories would also be implemented in the process of the entire research. From the conducted interview on the entrepreneur, it has been learnt that there are several aspects that are crucial in starting up a business. An entrepreneur would have to deal with certain unavoidable issues in the commencement of a new business. These issues are quite imperative and have severe impacts on the business. Furthermore, the journey of the entrepreneur is also depicted through the essay. In the reflective analysis part, the application of Schon’s and Kolb’s models have been incorporated to relate the obtained understanding of the scenarios faced by the concerned entrepreneur. Also, the present situation as well as the future aim of the company was also intended to be understood in the essay. Apart from the interview, the personal entrepreneurial development plan is also desired to be portrayed in the research. Time and again, it has been noted that human lives and assets are vulnerable to various types of risks and dangers. The diverse kinds of risks or dangers cannot be predicted and can take place with anybody at any time. In this regard, security of people or assets has become a prime concern. Now-a-days, it has been noted that there are various security agencies that have emerged in due course of time. Among them, A-Star Guard is a well known agency. This company is specialised in proving high level securities services. It has been recognised that the company possesses an efficient team which is strictly professional. It has also been observed that all the members of the company are trained under Security Industry Authority (SIA) and have the capabilities of providing quality security services. The company is accredited under the Approved Contractor Scheme (ACS). It has been learnt that the company is a newly established one but has obtained a highly experienced team of personnel. The security deliverance of the company varies with the

Charlie Chaplin's Modern Times (1936) Essay Example | Topics and Well Written Essays - 1000 words

Charlie Chaplin's Modern Times (1936) - Essay Example Chaplain, the producer of the movie, had a vision of scientific management in 1930 when the movie was produced. The era of 1930 was a period of economic misfortune, social struggles and industrial standardization (Tomlinson 660). The period’s culture was powerfully depicted by the entertainment of the thirties. In Modern Times film, the producer has constructed scenes wisely to portray his opinions of the period’s prominent management styles. The elements used in the workshop to produce the movie exhibit replaceability, standardization, specialization and centralization. These elements have been used intentionally by the producer to display criticism of classical management ideas. At the time the film was being produced, US was trapped in economic slouch that led to high unemployment rates, which consequently led to dwindling of corporate earnings. Because of these economic hardships, there came up unrelenting obsession due to the urge to save time and energy as a way of raising profit (Robinson 12). Industry leaders and business owners of the period began to turn to ever enlightening minds of scientists for help and profitability. During this time, there developed a strong consensus that math and science were the only solutions to the problems of the period. Scientists were progressing rapidly in their activities to make their labor effective and efficient. Unfortunately, for other humans within the labor force, during the scientific age had scientific views that led to great injustices. The Modern Times film unfortunately failed to suggest how employees can be managed as mechanized entities instead of just ordinary humans. Most scientific minds like Fredric k Taylor, managers and CEOs accepted and suggested classical management theorists to place proposals to work in their factories (Tomlinson 661). The Modern Times film has highlighted this aspect in brief. The film opens with a juxtaposition of a heard of crazed sheep with a street hustling with a mass

Role of currency futures in risk management Essay

Role of currency futures in risk management - Essay Example Forward contracts have certain advantages over currency futures but their disadvantages cannot supersede the advantages provided by currency futures. Because of their standardized features and a high liquidity in the market, currency futures have gained widespread importance. Even with the advent of sophisticated derivative instruments such as options, yet the currency futures lie ahead of them because of the cost factors and their advantages in providing superior performances in covered hedges. Introduction In the contemporary world, currency risk management is gaining a widespread importance because of the globalization. Companies and individuals who are exposed to foreign exchange risk, which implies that either they have imports or exports which will cause their domestic purchasing power to decline by converting a foreign currency to a home currency will always aim to minimize this risk. These currency risks arise during certain conditions; when the firm or businesses have assets or liabilities which are expressed in terms of foreign currency. We can define foreign exchange risk more specifically as the risk faced due to fluctuating exchange rates. For instance, if a Malaysian businessman exports palm oil to one of the European countries and if he expects payments to be made in Euros, than he is exposed to considerable amount of foreign exchange risk if the Euro depreciates against the Malaysian Ringgit. In case if it happens, the Malaysian trader will get fewer amounts of Ringgits in exchange of Euros thus a successful business venture might turn out to a blunder because of poor risk management practices. The trade transactions are shelved between the countries as businesses are unwilling to bear foreign exchange risk. As the fear of foreign currency risk looms over the businesses, it can reduce its trade with these countries. But as the world has stepped ahead in the technological breakthroughs, so it has been able to develop financial tools which can hel p the traders to minimize the risk faced in the businesses. The derivatives market primarily consists of many instruments such as forwards, futures, swaps and options. The aim of this paper is to discuss about the role of currency futures and how they provide an advantage over other derivative instruments in managing foreign exchange risk. A currency futures contract is an agreement between two parties to buy a particular currency at a specific rate in the future. Future contracts are identical to forward contracts but they differ in a sense that they are traded on the exchange and are more liquid than forwards. Futures are liquid as they have a formal exchange like stocks where you can trade your legal contracts. Similarly, they are standardized contracts like shares and you can remove them from your portfolio in certain chunks. We can illustrate futures currency with the help of an example involving two parties who are exposed to foreign exchange risk. The party which is exposed t o the risk of an appreciation of value in a currency will buy futures to protect. These are usually parties who have revenues or exports and they feel that the value of their home currency appreciates making the currency in which the sales are denominated weak thus resulting in lower revenues. To hedge their position, they enter in to a futures contract and buy a certain amount of

Biblical Worldview Essay Essay Example for Free

Biblical Worldview Essay Essay Genesis 1 – 11 recounts the story of the Creation of the heavens, earth, and mankind, the fall of man into sin, and God’s original covenant with Moses. From these chapters in Genesis, many of the questions of life are answered for us. We learn whether there is a God, where we came from, how to tell right from wrong, and what our relationship with God should be. Genesis 1 – 11 sets down an early guide for us on how we should live our lives to honor God, how we can learn from past human errors, and how to deepen our relationship with God, all of which can help to shape our worldview. Right away in Genesis, we learn the story of creation and that God exists and created the heavens, earth, mankind, and all of the creatures that live on earth. Genesis 1:27 shows that life was created by God, stating â€Å"So God created mankind in his own image, in the image of God he created them; male and female he created them† (NIV). This helps us learn right away the relationship to God that we have. God created us in His image and created us to be perfect. God also, however, gave us the ability to sin by giving us free will. Genesis 5:1-32 shows again that man was created by God and shows that man descended from Adam and Eve, even listing the descendants and how long they lived. By showing how God created life, man, and all the creatures on earth, Genesis helps us to understand how we should relate to Him and how we should view His creation. God created perfect humans and God created a perfect world. But He also left the ability for us to choose whether we remained perfect. One thing we definitely learn from the story of original sin in Genesis is that our God is a loving God. Once Adam and Eve had eaten the forbidden fruit, God very easily could have struck them down and started mankind over again. Instead, God allowed Adam and Eve to live on, casting them out from the Garden of Eden in Genesis 3:23. Shortly after this, we also read the story of Cain and Able, with Cain killing his brother Able. God again does not strike down the sinner, but choses to again cast Cain out from the land in which he was living. And while God could have chosen to punish Cain by making it so that he could not have children, God was loving in allowing Cain to reproduce with his wife and also allowing Adam and Eve to reproduce again, giving them another son to replace Able. God showed love by not being too harsh on the sinners. This goes helps us to form our view of God. It shows us that God is not just a loving God, but He is also a forgiving God also. Allowing mankind to carry on even after such heinous acts instead of starting over again with a more perfect species shows us that our God is a great God and we should strive to live a life that will honor His love and forgiveness. As we read further along into Genesis, we see the lineage from the time of Adam until the time of Noah. We see that sin has started to run rampant in the world before Noah’s time. But we also learn in Genesis 6:9b that â€Å"Noah was a righteous man, blameless in his generation; Noah walked with God† (NIV). This is to say that Noah was following the pathway set down before him to live a life honoring God. Because Noah was living in this way, God spared Noah. God would send a great flood to earth to destroy all of mankind. God, however, made the first covenant with Noah, saying that because of how they lived their lives, He would spare them from the flood and allow them to continue mankind’s rule over the earth. This shows us not only that there are repercussions for our sins, but that God also will love and spare those who are living in a way that honors Him. Because Noah and his family were righteous, God made another covenant with them, showing them a rainbow after the flood and making the promise to never bring such destruction upon His people again. This shows us the relationship that God had with us as humans and the value that God put in promises. It also shows what God was willing to do to our civilization as a punishment for not living a righteous life that honored Him. Although God made the covenant to never bring this destruction upon us again, we need to know the power of God and what He could do to us if He wanted. After the great flood, we see the blood lines of Noah and his family. Genesis then turns its attention to the Tower of Babel. Mankind was building a tower, hoping that it would be able to reach to heaven. But when God saw this, He decided that His people would become too content and may try to  make things too easy for themselves. He therefore created different languages for all of His people to speak and spread His people all around the earth. God wanted civilization to have many different roots and many different stories. If we were to flourish as a people, we would need to be able to spread our wings. This was the start of many different civilizations that still exist in our world today. We learn that God doesn’t want us to have one story from which to learn, He wants us to have many stories from which we can learn different lessons. Genesis 1 – 11 gives us the first guidelines for what we can expect from God and how we should try to honor Him with our lives. We learn that our God is a loving and forgiving God, that we learn that God created us in His image, that God wants us to rule over the earth, that God will spare those whom He thinks are living a life to honor Him, and that God created many different civilizations from which we can learn many different lessons. Genesis 1 – 11 is a great start to learning more about ourselves, learning more about God, and learning more about how we should view this world with which God has blessed us.

Technology Entrepreneurship in Malaysia

Technology Entrepreneurship in Malaysia INTRODUCTION Technology entrepreneurship is a recent field which has its roots in the now established field of entrepreneurship. The aims is to study the specificities of entrepreneurial activities in technology-intensive environments. Thus the technoprenuer is different form the entrepreneurship because needs the understanding of the concept of technological opportunity seen as an anticipated profitable business so as to enable researchers and practitioners to develop procedural knowledge. Moreover, technopreneur seems to involve both high potential future profits and high uncertainty which means have been implemented the creation and early growth of high tech ventures. The lack of funding and support are sort being discuss in the technology-based industry, so an example Cradle Fund Sdn Bhd is an agency under the Ministry of Finance, Malaysia, has their own objective to support and provide an ecosystem that help the technology entrepreneur. Through their program to initiate as the provider of the early stage funding that innovate and aspiring the technology-based entrepreneur by encourage, support, stimulate and nurture the development of Malaysian entrepreneurship in high growth technology industries and the generation of ideas for an innovative knowledge-based society and economy. We can see the success that have been achieved, for example, The Unified Alert Messaging System, which has achieved sales of above RM100,000 and is expanding its market overseas, is designed for ease of use by both small and medium sized businesses and corporations. According to Jeffrey Tan, the leader of the team that developed the Unified Alert Messaging System, an enterprise-level unified alert messaging system that grew from the WebNiche UAM (WebNiche Unified Alert Messaging) says the innovation is a natural extension of their business model. Tan says their first project provided unified communications services to SMEs, where they noticed a lot more potential if they could move up the value chain to offer hosted contact center solutions to corporations and public sectors. Those example should encourage the young technopreneur to more success and generate more idea to overlapping the advancement of the technology industry. FINDINGS The call for the Malaysian society to be a highly-technocratic one is not a new idea. In his Vision 2020 working paper in 1991, former premier Tun Dr Mahathir Mohamad highlighted the need to establish ‘a scientific and progressive society’ as the sixth challenge out of nine outlined in the national agenda. In Budget 2011 tabled by Prime Minister Datuk Seri Najib Tun Razak last year, the government would provide the ‘Entrepreneurship Enhancement Training Program to train 500 new technopreneurs and attract more investors. Additionally, the Malaysian Technology Development Corporation (MTDC) would be provided with a startup fund amounting to RM100 million to furnish soft loans that allowed loan repayments only after companies had generated income. Obviously, the government wanted to see more technopreneurs running the small and medium enterprises (SMEs) in the country. â€Å"SMEs had to grow at about 8.5 per cent annually in order to contribute about 41 percent to Malaysia’s gross domestic product (GDP) by 2020,† stated SME Corporation Malaysia’s (SME Corp) chief executive officer Datuk Hafsah Hashim recently. As futuristic as it may sound, a technopreneur is basically an entrepreneur with both business and technical training background or one who applies technology and innovation as the business core operating model. In Malaysia, this branch of enterprise is usually represented by ICT and multimedia SMEs, either at seed level or already over the startup stage. According to Bank Negara Malaysia, a general definition of an SME refers to an enterprise with shareholders’ funds of less than RM10 million. On the other hand, SME Corp stated that an enterprise that generated an annual sales turnover not exceeding RM25 million and with full time employees not exceeding 150 people was considered an SME. â€Å"Its contribution to the country’s economy remains significant,† stated SME Corp’s Hafsah. The Technopreneurs Association of Malaysia â€Å"TeAM† has been formed by a group of Malaysian Technopreneurs to further the interests of Technopreneurs and to assist in the development of the technology based industry in Malaysia. Membership to TeAM is open to all individuals related to technology industry in Malaysia. Membership to TeAM is divided into 3 types namely, Member, Honorary Member and Student Member. Since its founding, TeAM’s efforts in accelerating the adoption, growth and development of the ICT industry in Malaysia has resulted in a number of successful key initiatives such as the Cradle Investment Programme (CIP), Excite the Entrepreneur Programme, TeAM Clinic, Malayisan ICT Trade Directory (with Matrade), MSC Global Technopreneur Forum 2004 (with MDeC formerly known as MDC) among others.At the same time, TeAM takes an active role in fostering ICT development efforts in support of initiatives by the Government of Malaysia to make Malaysia a major ICT and Biotechnology player in the region. TeAM annually participates in the Malaysian Government’s annual budget dialogue and proposed ideas and initiatives to enhance the technopreneur sector in the country. IMPACT AND INFLUENCES Malaysian technopreneurs are likely to face an uphill climb growing their businesses this year due to several ongoing challenges, say industry observers. The lack of seed-stage funding, slowdown in global economy, shortage of innovative ideas and absence of relevant skillsets, will hinder the countrys tech entrepreneurs expansion plans this year. Cradle Fund CEO Nazrin Hassan said there is still a gap, commonly known as go-to- market funding, which exists for companies between the pre-seed and seed stage of commercialization. Established in 2003 by the Malaysian government under the auspices of the Ministry of Finance, Cradle provides pre-seed funding and advice to Malaysian technopreneurs. Deepening and expanding market access for local technopreneurs to secure deals and contracts still remain a major challenge, be it locally or overseas, said Nazrin, who is also the former president of the Technopreneur Association of Malaysia (TeAM). He noted that about 80 percent of local technopreneurs are at the early stage of development, but many of them cannot grow further due to the lack of funds. There is a gap that exists between the pre-seed and seed stage of funding, he explained. Pre-seed funds only help technopreneurs to develop their ideas, but good ideas will need a bridge to get to the next level. Nazrin said. According to Michael Ta, CEO of the FSBM Groups multimedia arm, technopreneurship in Malaysia is often about positioning the right people, in the right places to secure a project. This is why many local technopreneurs only do well in Malaysia but not when they are pitted against the other players in the world arena, Ta told ZDNet Asia in an e-mail interview. The Malaysian IT services company has made inroads in China with Java- based mobile applications. According to Deputy Minister of International Trade and Industry (MITI), â€Å"The Malaysian government has consistently urged the SMEs and the industries to innovate and utilize technology and ICT solutions to remains competitive as a way of charting a new path out of the present global economic turmoil†. He also added that ICT industry is the main pillars of the Malaysian economy and the New Economic Model (NEM). He also stressed that the development of the local entrepreneur were the crucial to position Malaysia as a developed status nation by 2020. He also mention that the SME should adopt the abundance enterprise software as a management tools, content and data delivery mechanism to increase their efficiency and effectiveness. DISCUSSION Technology industry is still in early stage in Malaysia and still in developing. The government should give huge essential toward the technology industrial because it can generate tremendous profit and growth of economic. Our product are still in the in research and try to penetrate the market as well try to fit in the technology advancement. According to this issue Malaysia still lack knowledge and funding compare to Japan and Korea that mostly have full facilities and high technology. Multimedia Development Corporation (MDeC), the custodian of the Multimedia Super Corridor Malaysia (MSC Malaysia) initiative, launched the ‘Icon2 – Second MSC Malaysia Integrated Content Development Program’, the sequel of the first content development program. Similarly to its predecessor, Icon2 would furnish local developers with the skills and means including the startup capital to create content-based products. The program was also initiated to provide a platform for the younger generation to play an active role in the country’s transformation into a fully-digital economy, following the target outlined in the Economic Transformation Program (ETP). Furthermore, Malaysia still lack of training and expertise in the development of the technology. Lack of conventional training and support also become barrier to development of industrial-based technology, there for the youth generation should have early exposure regards technology as we can generate more technpreneurs in the future that can globalize the Malaysian towards technology. Last but not least, developing THE Technopreneur Center (TEC) to play the role of an information Center that spreads information about technopreneur development and commercializing technology. TEC will create a synergy with activities that is being organized by other units in the university and any place of study. RECOMMENDATIONS First of all, the technopreneur flagship should have their own representative on their committees entrepreneur that have involve in the technology industry. To make sure this can encourage more technopreneur show their interest efficiently represented and the more representative should be extended in the flagship application. Therefore the MSC should success to ensure that broadband access are available nationwide, which means allow ICT companies enjoy pioneer status and tax incentives. Next, Malaysia need showcase locally breed technopreneur winner. Aside from the publicity, Malaysia should highlight the viable ICT business environment to foreign investors. By these the government should introduce sponsored programmes on the development that aims and sharpen the new technopreneur business skills, this will facilitate buyers to sources for expertise among technopreneur. The government also need playing field by channeling the bidding of some government contracts to certain classes of startup companies while excluding establish companies, this will show the government act as catalyst. Moreover, technopreneur need to be more resourceful and exhaust all available sources of fund before seeking institutional funds. Friends and families intend to invest in the early stages. There is agency that help the technopreneur to understand ICT and promote funds to the industries, such as TeAM or any others government agencies. They also need to create their own forum to match international financiers with Malaysian ICT companies. By establishing a virtual web forum to aggregate and promote Malaysian business can be interest the investor that can cause an impact. They also should create an one stop agency that assist technopreneur to apply for various grants and other government aids. Furthermore, technopreneur should work together with existing development authorities in traditional sectors such as Malaysian External Trade Development Corporation (MATRADE) and Malaysian embassies abroad to collectivity market local ICT companies. As ICT is enabling technology that transcends various industries to develop marketing channels into Malaysia. With this establish Malaysian sponsored exhibition booths at major international trade fairs where local technopreneurs can participate more affordably by sharing costs. As current government sponsored exhibits are not well publicized, that ensure these initiatives are communicates down all entrepreneurs Lastly, government should grants assist Malaysian companies to create the necessary software support infrastructure in foreign markets that may be shared with others Malaysian companies in pooled basis. For start, regional markets that are closer to Malaysia should be targeted. With the foreign competitor have better resources and marketing tools, local entrepreneur need to find a place that takes advantages of local expertise and product that have local comparative advantages. By all these we can develop more technopreneur in technology-based industry. CONCLUSION Technology-based industry has reached all corners of the world. There are a lot achievement and success have been made appeals to emotions and drive decisions. With numerous programmes set up by the government to develop ideas into products, all parties should team up to take these ideas to next stage of full commercialization. On the support provider’s side, the government and its respective agencies should promote these programmes more aggressively. On the recipients’ side, they should explore more which meant they must ask around, seek around and act. Prime Minister Najib summed it quite poignantly during the launch of the 23rd MSC Malaysia Implementation Council Meeting in October. â€Å"Do we want to just be achieving what is expected; or do we want to springboard ahead of the pack?†. Thus, government support is needed necessary, as the local technopreneurs are definitely not in the same league as other global technology-bases industry entrepreneurs. BIBLIOGRAPHY SHARIZA ABDULLAH  ON 27TH OCTOBER 2014 http://www.nef.org.my/v_2010/ Cradle 2014 http://www.cradle.com.my/2012/03/mobile-network-radio-optimisation-gis-tool-or-xeus/ TeAM 2014.http://www.team.net.my/ Borneopost.com http://www.rightsarawak.com/rightv2/subpressrelease/2011/11_Dec_2011-Technopreneurship_A_promising_call_for_the_unemployed.pdf Bernama.http://www.cruisegpssystems.com/index.php?option=com_contentview=articleid=90:malaysia-sme-mukhriz-technopreneurs-crucial-for-economic-growthca Mohd Abdullah Jusoh, Sultan Idris Education University, Malaysia Hazianti Abdul Halim, Sultan Idris Education University, Malaysia : Role of Technopreneurs in Malaysian Economic Abdul talib bon : NEW MODEL AND CONCEPT FOR TECHNOPRENEURSHIP STUDIES IN UNIVERSITY THROUGH EXCELLENCE CENTER Handbook of Research on Techno-Entrepreneurship : Franà §ois Thà ©rin Edwin Yapp, ZDNet Asia. Malaysian technopreneurs are likely to face an uphill climb growing their businesses this year due to several ongoing challenges, say industry observers.

Essay --

In 1916, Susan Glaspell wrote Trifles, when the egotistical male-dominated social order was ruthlessly manipulating women’s right to vote and cruelly restricting their functions in social, business, and government positions. In the home, the husband was dictator and the wife merely a domestic servant. The domestic sphere of women is minimized to the activities of the farmhouse which are considered trifles or insignificant in the world of men. Trifles explores the classical male stereotype of women during this period by expressing that women habitually worry about matters of little, or unimportance. This label creates the perception males are the only people concerned with essential issues, issues that a female would never discuss or confront during this era. Trifles is based on an actual murder case Susan Glaspell wrote about as a reporter for a newspaper in Iowa at the turn of the century. To completely comprehend and give an accurate analysis of Trifles, it is critical to acknowledge the condition of the women’s movement at the time the play was written and first produced. The significance of the position of women in this early 20th century community and the title of the play Trifles, is condescending. Susan Glaspell manipulatively uses her extensive knowledge about the murder case, to expose and express the way women actually felt during this period. As a reporter she was controlled and restricted to what she could actually publish. She constantly uses subtle but deep ways to associate the play to hash treatment of women and the way they are viewed by males in society. Lewis Hale casually states that "women are used to worrying over trifles"(Glaspell 663). He is enforcing how the men actually perceive the women in society ... ...ce to society and viewed as a servant to their husband and family. The female was looked down upon and was considered a second class citizen compared to their male counterpart. The significance of the female contribution to society was evolving and was a painful transition women had to endure so women can have what they have today. Women endured mental, emotional, physical, and political abuse that was comparable to that of slaves. The suffering women endured paved the way for future generations of females to be looked at as equals not peasants compared to men. The women decided not to tell the men about the things they found, which undoubtedly stressed the women enduring Minnie’s pain together for the greater good of women. If they had exposed the trifles that they had uncovered, the women would have presented the motive that the men could not find to convict her.

College Essay examples -- Teaching Education

College Every person who begins a college career has a multitude of reasons for doing so. Some people do it because they are expected to get a college degree. Others do it hoping for a better life than they could have without a college degree. I am not entering college for either of these reasons. I am a high school dropout who believes I can do better than I did. Therefore, my reasons for beginning college are some what different than the average person starting college for the first time. I have something to prove to myself. I want to prove that I can earn a college degree. I am beginning college after a long hiatus from the academic world. You see I dropped out of high school in 1973 after completing my sophomore year. I was young and in love with the man to whom I am still married. School was never a problem for me, however; I was eager to begin my adult life and high school was not part of my plan. I wanted children right away. Subsequently I gave birth to my first child, Tosha, in 1974 and education became the furthest thing from my mind. After all, I had a baby to care for and love. Twenty-two months later I had a son, Jason. I was a stay at home mom with two children. I didn’t begin work until both of them were school-aged. I held various jobs until 1985 when I became employed at Andover Togs in Pisgah. I still had not completed my high school education at this point. My children had always me to get my GED. I had excuse after excuse for no...

Tourism in the Algarve

Albufeira, located in the heart of Algarve, is one of the main tourist spots (if not the most tourist-intensive spot) in the whole of Portugal. Albufeira is famed for its pristine beaches, which are situated at the center of the Algarve coastline, and its unusual cliff and rock formations. Flights to the airport in Faro—about 30 km from Albufeira—are cheap, making it accessible for a wide range of budgets.Albufeira actually consists of two sections: The â€Å"old† Albufeira, which is a fishing port with old Algarvian narrow streets and whitewashed structures; and the â€Å"new† Albufeira, which is made up of more recent developments growing around the old section.For accommodations, there are plenty to choose from ranging from hotels to apartelles to campsites. One can rent mobile homes in Albufeira Camping—a value-for-money alternative to hotels.Albufeira offers a lot of choices for the beach-goer. Within a span of 5 km, you can find the Praia de B aleerira in the new marina, the Praia do Peneco and Praia dos Pescadores (which are two beaches near the fishing town), and other equally charming beaches such as Praia dos Alamà £es, Praia do Inatel, Praia das Areias de Sao Joà £o, Praia dos Aveiros, and Praia da Oura. Other beaches are also easily accessible from the town.Albufeira is also famous for its nightlife. Bars, discos, and nightclubs abound â€Å"The Strip† in Albufeira’s Montechoro section. Local restaurants serve seafood specialties such as cataplana (steamed shellfish) and caldeirada (fish stew).Restaurants specializing in various chicken dishes are also popular. Other sights of interest include: Churches in various stages of disrepair and the Archaeological Museum that contains relics from Albufeira’s colorful past.AlmancilAlmancil, a small market town located northwest of Faro, is famous as a center for two luxury beach resorts and residential developments along the Algarve, namely:Vale do Lob o, which lies 2 miles south of Almancil, and Quinta do Lago, about 6 miles southeast of the village. The town is a mere 20-minute drive from the Faro airport, which is a transportation hub for Almancil and its surrounding resorts.Almancil is important in providing goods and services to satisfy the needs of the two up-market developments. Also located here are many real estate offices and interior and furnishing shops. The town is also notable for the distinct pottery produced by locals.Areas of interest include the Church of Sao Lourenco east of Almancil, which showcases stunning azuleqo glazed tiles by the artist Policarpo de Oliveira Bernardes. These 18th century ceramic tiles exemplify the best of Algarvian architecture.Close by is the Sao Lourenà §o Cultural Centre, an establishment regularly holding events such as art exhibits and music shows. Also located in Almancil is the Està ¡dio Algarve (Algarve Stadium). Home ground of Louletano DC and SC Farense, the stadium is host t o the 2004 European Football Championship.Notable Almancil Beaches include, Praia do Ancà £o, Praia do Garrà £o, Praia da Quinta do Lago, Praia do Trafal, and Praia do Vale de Lobo.The Quinta do Lago complex near town is considered one of the most exclusive luxury developments in Southern Europe. It is popular with the English and is a retreat for many celebrities.The resort boasts a five-star hotel, first-class fine dining restaurants, and various luxury facilities. Rumor has it that Alan Shearer, George Michael, Luis Figo, Madonna, and Elton John own property in these areas.The tennis center is among the best in Europe and restaurants offering a myriad of cuisines catering to different palates are many. Also located in Almancil is the Almancil Karting, a leisure and competition complex. A replica of the former F1 Brazilian racetrack, it is a must-see for many for motor racing aficionados.AlvorAlvor is a relatively small coastal town located between Lagos and Portimao in the Alga rve. The town can be reached by taking a taxi from Portimao. Its main attraction as an international tourist center is the Alvor beach with its long, sandy beach that stretches till the Ria de Aivor estuary.

Hocheng Philippines Corporation Essay

Hocheng Philippines Corporation has been well-known for their finest creations of bathroom fixtures and accessories. It has acquired latest high-tech machineries and equipped workforce to provide high-quality porcelain products which is considered to be their main priority. Most of their production relies on these machineries that might result to interruption if there will be some technical problems experienced. Back up plan should be established to at least avoid delay in production. Safety in workplace is essential and should not be neglected by the management. There is a Violation Receipt which is intended for strict compliance with the rules regarding proper attire for safety. Someone noticed to be in violation will be reprimanded. Though, while exploring all the sides of the plant, I saw employees not in their uniforms, only wearing shorts and are topless which maybe is permissible to the management since these specific employees are under casting process. On the other hand, I noticed that there are a lot of ceiling fans that help in fast drying of the clays molded/ceramics that make much of the dust spread in air around the place which requires wearing of masks whenever in the workplace, but none of them wears one. This could be a huge risk in their health. The company must provide a strong policy regarding the implementation of wearing mask every time they are exposed to dust, come up with an excellent way to oblige employees in obeying with the plant instructions for worker protection and inform them about the hazards. Furthermore, there is only a little supervision from the management to its employees in actual testing of the outputs. One of them disclosed that before packing, testing the ‘flush’ should be made, but this is sometimes made randomly, and not for the entire units. There should be someone responsible for ensuring that all products went under testing and that all the employees are doing their jobs, most especially for those employees sleeping during lunch breaks. Someone must be roaming around, to check if none of them does that during work hours. Good thing about the production process is that it is well automated which minimizes human intervention and speeds up the process. But its huge reliance to machines results to possible delay in production if even just one part of it fails to function properly. If the machine crashes or experiences some technical problems, the production will be in halt. Thus, back up equipment or plan should be prepared by the management in case this happens. Sanitation and freshness were well-emphasized by the company. Of course, those are essential and of a great deal to their consumers. As a matter of fact, it was shown in the video that the pans used in baking are regularly and intensively cleaned and how these are cleaned but none was indicated about cleaning the machines used. Dough is not only placed on the pans, these also touch other parts of equipment before reaching the packaging section. It is impossible that these machines will never be subject to dirt, even if it is in a closed area. Therefore, they should find a way to maintain these machines sanitized, cleaning them regularly as possible without affecting the time allotted for the production. Upon observing in a short span of time, though in a limited view, a huge bulk of dough came into my attention. It was at the floor. I have no idea regarding the plan for that filthy dough but most probably, it is not going near our mouth. Hence, it should be segregated to a separate container, clearly emphasizing that it is no longer to be used for production to ensure that confusion will be avoided and that there is no chance of accidentally including it to clean ones. Strength Hocheng Philippines Corporation has been well-known for their finest creations of bathroom fixtures and accessories. It has acquired latest high-tech machineries and equipped workforce to provide high-quality porcelain products which is considered to be their main priority. As what one of the employees said, â€Å"We do not let our product even with just a small slight crack reach our customers. † In fact, all processes have TQC (Total Quality Control). There is QA (Quality Assurance) every month, like an auditing to randomly check if quality requirements are met to have quality-products. It serves as systematic requirement, a comparison with a standard. In addition to this, every certain period, there is four-hour training for skills development of the current employees. Kanban System is implemented in the company. It is a scheduling system for lean and JIT (Just-in-time) production, which has been proven to be a great way for improvement in the entire production. And, there is automation in maintaining/monitoring inventory. To simplify and speed up in updating the inventory level, the company uses barcode. However, for those items that are broken or defective, updating in inventory system is done manually and it is handled by three people, eliminating the possibility of having false information regarding these outputs. HCG uses Proximity scan (through ID) in entering the plant. This improves efficiency and reduces the possibility of deception. Furthermore, check list of materials to be used for casting is prepared by an immediate supervisor and if the materials prepared are found out to be insufficient, the employees themselves will approach a person in charge to have material requisition. Also, there is move ticket to authorize every time there will be transferring of materials. Almost stages in the whole system require documentation. Even for those items that are to be disposed, are being accompanied by appropriate records which help in audit trail purposes.

Economics Practice Exam Questions

1. Â  A trade quota:is an explicit limit on the amount of exports of a good from a country.is an explicit limit on the amount of imports of a good into a country.is a tax only on exports.is a tax only on imports.2. Â  An import tariff:is an explicit limit on the amount of exports of a good from a country.is an explicit limit on the amount of imports of a good into a country.is a tax only on exports.is a tax only on imports.3. Â  While an import tariff on a good will both raise the domestic price of that good and its domestic production levels, a quota:will not raise the domestic price but will increase the amount of the good produced domestically.will raise the domestic price but will not increase the amount of the good produced domestically.will both raise the domestic price and increase the amount of the good produced domestically.will neither raise the domestic price nor increase the amount of the good produced domestically.4. Â  If the dollar price of the German mark increase s, then:the German Mark has appreciated while the U.S. dollar has depreciated.the German Mark has depreciated while the U.S. dollar has appreciated.both the German Mark and the U.S. dollar have depreciated.both the German Mark and the U.S. dollar have appreciated.5. Â  An exchange rate measures:the price at which one can exchange one good for another good.the price at which one can exchange one resource for another resource.the discounted price one received when returning defective goods for exchange.the price at which one can exchange one currency for another currency.6. Â  Consider the following two statements:The U.S. dollar will depreciate when U.S. Demand for foreign goods increases.The U.S. dollar will depreciate in the present if the public believes that the U.S. dollar will depreciate in the future.both statements are true.both statements are false.I is true while II is false.I is false while II is true.

Outsourcing Trends: Health Services Professionals

[pic] MGT 6220 – Health Care Human Resource Management Outsourcing Trends – Health Services Professionals Fall 2012 Research Paper Anthony Edens Thomas Grumley Outsourcing Trends – Health Services Professionals In today’s healthcare environment, hospitals are facing increasing pressure to reduce costs, increase efficiency and improve the quality of patient care. Although some of the details of the impending changes may not be perfectly defined, the industry is certain that changes are inevitable.Going forward, there will be an increased focus on quality; penalties for re-admissions, medical errors and hospital acquired infections (Buser, 2010). Several factors, such as aging populations, new treatments, low patient financial responsibility and misalignment of incentives have forced the Government to reconsider current Medicare reimbursement arrangements (Kaplan, Porter, 2011). For example, fee for service, which reimburses providers and hospitals based on the procedure performed, are not based on the desired outcome which should be good patient health.Therefore, the incentive for the provider could be to perform more of the higher reimbursement procedures and not to focus on decreasing the costs of business. Unfortunately, this has lead to a cycle of increasing costs for the government and payers, who are now looking for ways to decrease reimbursement and align incentives with quality while reducing re-admissions. Decreasing reimbursement will force hospitals that are not currently focused on cost control to rethink the existing strategies. In light of this, hospitals will need to concentrate on expense control, staffing productivity and service line efficiency.Crucially, hospitals will need to focus on effective alignment with physician practices and hospitalists. One consideration that continues to arise is whether to outsource certain functions from an employment model to one involving outsourcing, and one which will be discussed at length in the following pages. The current climate is signaling a clear increase in the trend to outsource a multitude of functions, for both large and small hospitals. In Modern Healthcare’s 33rd Annual Outsourcing Survey, 42 firms reported a 14% increase in the number of healthcare clients from 2009 to 2010.The following year’s survey, reported that among the top 20 outsourcing firms there was a reported 13. 1% growth from 2010 to 2011. The top 5 services which are currently outsourced are laundry, housekeeping, clinical/diagnostic equipment maintenance, hospital based emergency departments and food services (Kutscher, 2012). Additionally, the outsourcing of back office functions continues to increase. For example, firms providing accounts receivable functions reported a 21% increase in 2010 and firms providing medical record services reported a 6% increase in 2010 and an 8% increase in 2011 (Kutscher, 2012; Daly, 2011).Also related to the back office functions is effective revenue cycle management. When considering the tightening of the current and future reimbursement environment, the ability for a hospital to successfully collect monies owed and to reduce bad debt will be crucial. For example, in May of 2011, Conifer, a subsidiary of for-profit hospital chain Tenet Healthcare Corp. , Dallas announced that it closed on a deal to provide revenue management services to 56 hospitals (Kutscher, 2012). Another area of explosive growth is in the IT sector.Part of the reason is that there is a federal mandate which requires hospitals and physician practices to show â€Å"meaningful use† of electronic records. Not only are there financial incentives for implementing electronic health records early, there are financial penalties for those that have not implemented a system over the next few years. Robust growth can also be seen among the firms that provide diagnostic equipment maintenance. In Modern Healthcare’s 33rd Annual Outsourcin g Survey, these firms saw 12. 6% growth from 2009 to 2010 and the following year’s survey showed a 16. % increase. This is due to the fact the medical equipment is growing increasingly more complex and that specialized firms are able to adhere to strict maintenance schedules, provide detailed documentation and track repair costs. One of the largest areas of growth is in the outsourcing of anesthesia services. From 2009 to 2010, the growth among survey respondents was 147% to a total of 222 contracts. One of the reasons for this is that anesthesia services can operate as a self contained unit within a hospital.This works more efficiently than if each physician would bring in their own team by providing both consistency and cost effectiveness. However, there are concerns regarding outsourcing hospital services. Reasons for hesitation among hospital executives can be corporate culture, patient privacy and regulatory compliance. There are definite security and compliance concerns related to the outsourcing of electronic medical records. For instance, while Indian insurance and pharmaceutical companies have had success, gaining market share from U. S hospitals may prove to be difficult. As soon as it leaves the confines of the U. S. , it's not subject to the same rigorous laws as we are,† says George Conklin, chief information officer of Christus Health (Sharma, 2010). Here, we are going to focus on outsourcing the hospitalist and revenue cycle functions and show some of the advantages and limitations of each. The number of hospitals that have hospitalist programs continues to grow, and today 2/3rd of all hospitals use a hospitalist program. Additionally, the demand for these providers currently outweighs the supply with a total of 31,000 covering the country’s demand of 40,000 (Buser, 2010).One of the reasons for this increasing demand is it allows those physicians with busy outpatient practices to concentrate on those practices and for the pro viders in the hospitalists programs to concentrate on the inpatients. Additionally, hospitalists can focus their attention to the details of inpatient management due to their more consistent practice patterns and expertise which all helps to reduce average length of stay and increase patient health and satisfaction. Hospitals can choose from either employing and managing the group of hospitalists directly or using a 3rd party vendor such as TeamHealth or EmCare to outsource the service.For instance, a hospital may choose to employ a group of hospitalists directly if it’s looking to ensure quality and bring the programs under local control to align the program with their own mission and values. However, crucial to the success of this is effective leadership and expertise. In some instances, employing hospitalists directly may require abundant investment in IT systems and other tools which will require large amounts of capital dollars that some smaller hospitals may not have ac cess to.In these instances a hospital may choose to outsource this function to take advantage of the large economies of scale and expertise a large vendor may be able to offer. For instance, in the article â€Å"Hospital Medicine’s Management Shuffle† by Bonnie Darves, Martin Buser, MPH, who is the co-founder of the hospitalist consulting firm Hospitalist Management Resources LLC, attributes the decisions to outsource to rapid growth of programs in which the hospital did not have the proper infrastructure and financial support to carry on with the program.Additionally, by outsourcing the practice the hospital reduces its regulatory risks as well as administrative and recruiting burdens. For example, in 2007 Hospital Specialists of Georgia, turned over management services to Cogent, a prominent and large vendor of hospitalist programs. At the time the group was handling a third of the medical center’s admissions and could not increase that without support.Without available capital, the company was not able to meet the growing demands of IT, especially as quality and performance measurement started to become more prevalent. (Darves, 2007). Using a 3rd party vendor whose expertise lies in focus and efficiency, and especially when combined with firms who bundle ED and hospitalist services, hospitals can reduce patient wait times and reduce the number of patients who leave the ER prior to triage or treatment. Ultimately this acts to increase the overall volumes of the hospital.Additionally, for 2012, CMS (Centers for Medicare and Medicaid Services) created two new critical measurements which measure, in minutes, the time from ED arrival to ED departure for patients admitted from the ED to the facility and from the admit decision time to the time of departure from the ED for patients admitted to inpatient status. Improving these times has a multitude of positive effects on the facility. For example, this can reduce the ED length of stay, increas e the ED capacity, improve the admission process and ultimately improve the patient outcome.Conversely, some may argue that quality and alignment with the hospital are better achieved when providers are employed directly. For example, Kadlec Medical Center of Richland Washington decided that in 2006 it would discontinue its arrangement with a large vendor and bring its program in-house. The hospital wanted more control over the number of hospitalists as well as the scope and quality of services (Darves, 2007). However, the data suggests that quality does not suffer when outsourcing a hospitalist program. This is why we recommend outsourcing in the case of a hospitalist program.In a 2009 survey released by the Medical Group Management Association, the data shows that a hospitalist from a large vendor sees, on average, more than 19% more patients per day than a hospitalist employed by the hospital. Patrick Hays FACHE and C. Thomas Smith explain in their article â€Å"Why the Independ ent Hospitalist Practice is here to Stay,† that this does not imply an adverse effect on the quality of the healthcare, and is instead the result of a focused effort where other hospital assignments are not competing for attention.An increase in focus and expertise can lead to early detection and better diagnosis of disease which ultimately leads to less expensive and less complex treatments, and importantly, to fewer re-admissions. Outsourcing the hospitalist practice is also cost effective. A 3rd party hospitalist vendor can usually integrate its existing software with the hospitals and reduce training and orientation costs that could come with having to learn a new EMR system. In addition to IT and recruiting costs, there can also be costs associated with billing, accounting, legal, regulatory, marketing and quality control.Should a hospital choose to employ the physicians and experience rapid growth without the proper infrastructure, these costs can quickly deteriorate the earnings of the group. Regulatory and legal costs can be especially problematic. For instance, Stark and Anti-Kickback Laws limit what a hospital can pay to an employed physician and require that each contract be put under scrutiny to ensure fair market value scrutiny to guarantee there are no conflicts of interest between the physician, hospital and patient.To make certain a hospital is not violating these serious and complex laws, it would need to employ and increase its legal department’s infrastructure to include a department specifically designated to physician contracts, a cost many small hospitals may not be able to afford. With so many reasons for a hospital to use a 3rd party vendor, hospitals may become increasingly interested in avoiding the employment model. John Donahue, CEO of Cogent HMG expects a â€Å"dramatic ramp up of hospitalist consolidation† in the coming years because of the new quality requirements the government is demanding the hospitals meet .The large hospitalist companies already have effective ways to measure this as well as reduce length of stay and complications resulting from hospital stays (Robeznieks, 2012). Another step firms are taking to convince hospital executives that outsourcing is the right choice is using local contractors and simultaneously offering a national support model. For example, Radisphere, an Ohio based radiology outsourcing firm, uses local radiologists who work with a network of offsite subspecialists offering continuous access to consultations.In summary, outsourcing hospitalist services can provide hospitals, large and small, a cost effective and efficient means to provide quality patient care. With an ever increasing focus on quality, using a group focused physicians with hospital expertise who do not have competing private practices can increase patient satisfaction, increase hospital capacity and volumes all while helping the hospital achieve its goals while creating and maintaining a good quality reputation in the community. Let us not forget, however, that the presence of Human Resources should be critical in this decision.The head of Human Resources needs to understand the dynamics of the business and the challenges that lay ahead should the company choose to outsource an existing function or in-source a function currently delegated to a 3rd party firm. For instance, if a decision is made to outsource an existing department there will need to be a roadmap for the existing employees. Ask questions such as, â€Å"Will there be a severance package or can these employees be transitioned or transferred to open positions in other areas of the company? Furthermore, there needs to be discussions regarding the reliability of the outsourcing firm and a contingency plan should the firm go out of business or discontinue the relationship. Are there alternative companies that could provide similar services if this situation were to arise? Will the chosen firm be able to me et the projected volume needs to the hospital? Additionally, even if the hospitalist function is outsourced, communication from management and HR will remain important so that those in these new positions still feel supported and motivated.HR needs to work closely with the firm providing the services so that boundaries, objectives and targets are clear. In a situation where an outsourced function is brought in-house, HR needs to ensure that the current management infrastructure can accommodate the new positions. Especially in the case of employing hospitalists, contracts as well as compensation and benefit packages need to be created. Another example of where opportunities lie for outsourcing departments is in office functions such as revenue cycle management.In recent years, hospitals have steadily warmed to the idea of outsourcing functions which were previously kept in-house, such as business processes and information technology. However, a host of factors–including the pa ssage of the Patient Protection and Affordable Care Act, the faltering economy and the increasing emphasis on quality and performance improvement–have pushed that trend into overdrive (McKinney, 2010). In order to remain competitive and stay afloat, hospitals and other healthcare organizations are desperately looking deeper into business functions to determine the areas that may be better off outside the walls. Faced with a potential flood of new patients and lean budgets, hospitals are carefully considering each department to determine which functions can be turned over to contractors, and more areas are fair game than ever before†, says Reggie Hill, a partner at Waller Lansden Dortch & Davis, Nashville (McKinney, 2010). Although housekeeping, food services, and diagnostic equipment maintenance are among the most common outsourced services, revenue cycle management is becoming increasingly popular. Because of the perception that there will continue to be cuts in reimbu rsement and new reimbursement models, hospitals are looking for ways to cut expenses and maximize revenue,† Hill says. â€Å"If an outsourcing agreement looks like it will accomplish those goals, it's going to be something a hospital will want to take advantage of. † In particular, there has been continued growth in the number of organizations that are seeking out revenue-cycle management services, Hill says. â€Å"There are vendors that have shown they can add value, and more hospitals are giving it a try† (McKinney, 2010).Although more organizations are looking into the use of a vendor, it is important to consider all variables before determining the best option. Outsourcing the revenue cycle function does not fit all business models. Factors such as practice size, legal compliance, training ability, cost savings, quality, and efficiency should be studied carefully in order to realize the maximum return on investment. Companies that fit the outsourcing model an d execute the transition properly can realize the greatest rewards.Conversely, outsourcing may be the downfall of an organization if these factors are not considered. When a company commits to outsourcing, cost savings tend to dominate and labor rates are a large contributing factor. In search of satisfaction, many companies are looking to offshore vendors. Offshore outsourcing companies might save hospitals even more money in labor costs because employees in countries such as India often work for much less money than U. S. staffers (Mantone, 2003). Managing a department outside of the organization’s walls has its other cost saving advantages.Having fewer internal employees reduces the need for back office space which will generate savings in rent. With a billing service, billing and collection activities occur off-site and therefore it may be possible for a hospital to reduce its current overhead costs or convert existing office space to a revenue generation, patient service s area (Schechter, 2000). Furthermore, cost savings with outsourcing may also be realized in more subtle ways such as an adaptation of superior processes. The demand for standardization in revenue cycle management is on the rise. Despite growth in the industry, the floundering economy has made some providers skittish about first-time outsourcing deals†, Zambuto says. Another motivating factor that is convincing many to take the plunge is the need for standardization, he says. Outsourcing to a vendor can help ensure processes are done the same way each time at every location, which reduces the probability of errors, he says (McKinney, 2010). With this standardization comes an increased revenue flow. Many companies are careless with collections and spend unnecessary time, money, and resources on correcting mistakes.Re-billing and managing overpayments can become costly due to the increased hours of operation and additional wages paid to employees working these claims. If the bil ling can be done quickly and accurately the first time, these costs will not have to be wasted in order to generate the same amount of revenue. For example, Marshall McHenry, MD, a Cincinnati internist, chose to outsource billing when he started his own private practice. â€Å"He pays an outside billing service 6% of collections or about $20,000 to $22,000 annually, he said.In contrast, an in-house biller would have cost $30,000, including benefits, and a billing system would have cost several thousand, if not tens of thousands of dollars, Dr. McHenry estimates. Also, had he hired a biller, he would have had to factor in training and vacation time, and figure out how to avoid down time that could have seriously hurt his practice† (Chin, 2003). Additionally, this higher level of quality requires ongoing employee training which may become not only time consuming, but expensive. The billing service is responsible for hiring, training and supervising staff.They also are responsib le for coverage when any of their employees are out of the office. And they are responsible for acquiring and maintaining all necessary computer software and hardware as well as addressing other technology-related issues (Schechter, 2000). The relief of these burdens will allow management to focus more on its core competencies. Typically, a revenue-cycle outsourcing firm takes over some or all of a hospital's business office functions, which can include everything from patient registration, accounts receivable, billing and coding.They consolidate those functions into larger offices that serve many providers. The end result, outsourcing companies say, is a more efficient model that leaves more operating revenue for hospitals. Those types of business arrangements will likely continue as cash-strapped hospitals see the potential for big savings, says Dean William Harvey, a partner at the law firm Vinson & Elkins in Dallas (McKinney, 2010). Richard Garnick, chairman and CEO of Anthelio Healthcare Solutions, credits the â€Å"incredible† cost pressures on hospitals for the growth in his company's revenue-cycle management services.In the case of federal healthcare programs, Garnick has seen his client hospitals grow increasingly concerned that possible across-the-board cuts to Medicare and Medicaid could push them into the red. Those concerns have led some of Garnick's core clients at community hospitals to replace their in-house back office staff with his employees to reduce the cost of those functions by 30% to 35%. â€Å"That gap will potentially allow that hospital to survive,† he says about one recent client (Daly, 2011). Success with outsourcing has also been achieved by Marc D.Grobman, DO, a solo internist at Internal Medicine and Primary Care in Wilmington, DE when he chose to use Health Care Practice Management Inc. as a billing service. He says he is getting 98% of money due compared with 75% when he was part of the hospital network. â€Å"A t first using a billing service was a virtual necessity. Now I see no reason to bring it in-house because it's working out so well,† Dr. Grobman says. He also thinks he gets more expert billers through outsourcing, which in turn means he leaves less money on the table. Dr.McHenry contends that he gets about 10% more — $35,000 to $40,000 a year — than he would have had he hired someone to handle billing. Because it's a specialized skill, it can be hard to find good billers in the local labor pool, he added (Stevens, 2007). On the contrary, outsourcing does have its drawbacks, and most notably, a reduced sense of control is inevitable. Outsourcing firms are responsible for these functions which prevents the hospital from easily maintaining close management of operations. â€Å"The downside is you can lose control,† said Louis Korman, MD, one of Dr. Weinstein's partners. â€Å"You can be taken.There are a lot of people who think that doctors' practices are j ust money mills they can take advantage of† (Chin, 2003). Additionally, an absence of direct management may result in poor customer service. Third party billing firms may be required to deal with patients directly and it is difficult for the hospital or physician practice to monitor this interaction closely. Many physicians believe that they are able to maintain better relationships with patients when billing functions are kept in-house. Without this strong patient – provider relationship, a healthcare organization may not be able to survive.Moreover, a third party revenue cycle management firm may not hold the same work ethics as the healthcare entity which may result in subpar performance. A vital piece to the success of any billing department is legal compliance and these performance standards must be met. But revenue management outsourcing has its share of pitfalls, most notably legal compliance, he adds. Providers need to be confident in a contractor's ability to m anage the billing requirements of Medicare and other programs, while successfully complying with the Health Insurance Portability and Accountability Act of 1996 (McKinney, 2010).Dissatisfaction with an outsourcer's performance led Detroit Medical Center in February to sue to dissolve a 10-year, $300 million contract with Provider HealthNet Services, Dallas. Detroit Medical said the outsourced operation failed to achieve timely completion of medical records and had not delivered on a plan to train employees and organize the department for computerized records. Provider HealthNet said uncooperative and obstructive action by Detroit Medical officials caused the performance problems (Morrissey, 2003).A company’s decision whether or not to outsource a department will inevitably require the presence of Human Resources. One advantage of outsourcing the revenue cycle management team is the distance that it creates between management and the frontline employees. In some cases, this di sconnect is desired by the hospital because it relieves the duty of having to deal with employee issues. If an employee of a hospital is not performing, the management team will have to carefully follow HR policies and document progression of failing performance before termination may occur.This can not only be time consuming, but it can hinder productivity until the change may be made. Utilizing a vendor will allow the hospital to simply request that a replacement be made for a certain employee without having to follow any HR policies. â€Å"While the net cost of farming out billing is unknowable, Dr. Schwartz does believe that whatever it is, it's worth the peace of mind it gives him. † An outsource service insulates us from the kinds of problems that could get us into financial trouble,† he says. There are some advantages† to not having him on staff, Dr. Weinstein said. â€Å"The biggest one is that if he's not doing a good job, I don't have to worry about fir ing him. I just have to say to the company, ‘Hey, this guy is not doing a good job. I want somebody else. ‘ They have to worry about firing him, and firing high-level people is not easy to do† (Stevens, 2007). Although some hospitals may find this ‘peace of mind’ to be worth a potential added cost, there are some disadvantages that an HR department may face with outsourcing a business function.Whenever a hospital chooses to outsource a department or other function, it will unavoidably have to endure a layoff of some magnitude. A layoff or employee termination will most certainly involve a strong HR presence. No matter the level of expertise of the HR department, this process is never easy to manage. In some cases, a layoff may be necessary involving employees who have been part of an organization for years. Relationships have developed between the employees and management team which can make this event even more difficult.However, if the business decis ion to outsource is made, many times a layoff is most likely unavoidable. Additionally, this will create a loss of jobs in the community. â€Å"Also it can be a â€Å"hard sell† because outsourcing hospitals are â€Å"taking jobs from the local community and putting them elsewhere,† Johnston says. â€Å"It's not that big of a deal when the office has 10 people,† he says. â€Å"But when there are 100, 200 people in the office it becomes a big deal† (Mantone, 2003). This event can also create a negative image for the hospital which may not be beneficial for its reputation.This challenge must be closely managed by the HR department. In conclusion, outsourcing can be an effective way to increase the efficiency and lower the costs of an organization. In the case of using a 3rd party hospitalist firm, it uses a focused group of physicians who not only help to decrease costs but improve patient care and decrease re-admissions. Also, with improved patient care t here comes a decrease in the average length of stay which is obviously great for the patient but also enables the hospital to increase its capacity for additional patient services.It can be advantageous to a hospital to use a 3rd party outsourcing firm so long as the goals and expectations are clearly outlined and defined within the contract terms with the firm providing these services. Another example of an opportunity to take advantage of the focus of a 3rd party firm is in the realm of the revenue cycle function. Advantages such as decreased overhead costs, increased expertise and augmented standardization are ways in which a hospital can improve its overall collections, decrease its net accounts receivable days and lower the amount of money spent to do so.Outsourcing does not necessarily imply going overseas, as mentioned in the hospitalist example above, patient care mostly depends on human interaction in most services and so the local community economy remains intact. In the e nd, HR needs to be well versed in the goals of the company and be able to contribute to the decision by offering perspective on future labor needs, compensation and benefit costs or savings and strategic alignment with the hospital’s strategies and mission. â€Å"References† Buser, M. , (2010, December). Hospitalist Programs in the Age of Healthcare Reform.Journal of Healthcare Management, 55:6, 378-380. Chin, T. , (2003, August 11). The Doctor is Outsourcing: To Hire or Not to Hire. American Medical News, Retrieved November 15, 2012 from http://www. ama-assn. org/amednews/2003/08/11/bisa0811. htm Daly, R. , (2011, September 5). Under Pressure. Modern Healthcare, Vol. 41 Issue 36, S1-S4. Darves, B. , (2007, May). Hospital Medicine’s Management Shuffle. Today’s Hospitalist. Retrieved November 10, 2012 from http://www. todayshospitalist. com/index. php? b=articles_read&cnt=64. html Hays, P. , Smith, C. Thomas. , (2010, October).Why the Independent Hospitali st Practice is here to Stay. Physician Future. Retrieved November 18, 2012 from http://www. physicianfuture. com/news/physician-news/why-the-independent-hospitalist-practice-is-here-to-stay. html Kaplan, R. , Porter, M. , (2011, September). How to Solve the Cost Crisis in Health Care. Harvard Business Review, 48-49. Kutscher, B. , (2012, September 3). Expertise on Call. Modern Healthcare, Vol. 42 Issue 36, 20-27. Mantone, J. , (2003, November 24). Letting Someone Else Do It Better. Modern Healthcare, Vol. 33 Issue 47, S10McKinney, M. , (2010, September 20). Outsourcing Sees Stimulus Effect: Health Reform, Ailing Economy Prompt a Closer Look at Use of Contractors. Modern Healthcare, Vol. 40 Issue 38, pS1-S5, 5p. Morrissey, J. , (2003, May 12). Not Paying Off: Baylor, EDS Terminate Revenue Management Deal. Modern Healthcare, Vol. 33 Issue 19, p3, 1/2p. Robeznieks, A. , (2012, April 2). Partnering up: As Consolidation Begins to Sweep through Healthcare, Hospitalists Expect to See the T rend Accelerate in their Sector. Modern Healthcare, Vol. 42, Issue 14. Schechter, K. , (2000, July 24).Compare Costs, Benefits of Billing Service vs. In-House. American Medical News, Retrieved from http://www. ama-assn. org/amednews/2000/07/24/bica0724. htm Sharma, A. , Worthen, B. , (2010, November). Qualms Arise Over Outsourcing of Electronic Medical Records. The Wall Street Journal. Retrieved November 29, 2012 from http://online. wsj. com/article/SB10001424052748704865104575588252907738276. html Stevens, L. , (2007, April 16). The Ins and Outs of Billing: Pros and Cons of Outsourcing. American Medical News, Retrieved November 15, 2012 from http://www. ama-assn. org/amednews/2007/04/16/bisa0416. htm

Jollibee Fooods Corporation Philippines

Jollibee Foods Corporation (JFC) was incorporated on January 28, 1978. JFC's principal business is the development, operation, and franchising of quick-service restaurants under the trade name â€Å"Jollibee†. In the Philippines, JFC also has, as subsidiaries, Fresh N' Famous Foods, Inc., which develops, operates and franchises quick-service restaurants under the trade names â€Å"Chowking†; â€Å"Greenwich†; Red Ribbon Bakeshop, Inc., which develops, operates and franchises restaurants under the â€Å"Red Ribbon† trade name; Mang Inasal Phils., Inc. (MIPI), which develops, operates and franchises restaurants under the â€Å"Mang Inasal† trade name; and Perf Restaurants, Inc., which franchises restaurants under the â€Å"Burger King† trademark in the Philippines. JFC also has subsidiaries and affiliates overseas which develop and operate its international brands, â€Å"Yonghe King†, â€Å"Hongzhuangyuan†, â€Å"San Pin Wangâ₠¬  brands under the Super Foods Group, and most recently, â€Å"12 Sabu†.Jollibee Foods Corporation Philippines Board of Directors†¢Tony Tan Caktiong †¢Ang Cho Sit †¢Antonio Chua Poe Eng †¢Ernesto Tanmantiong †¢William Tan Untiong †¢Felipe B. Alfonso – Independent Director †¢Cezar P. Consing – Independent Director †¢Monico Jacob – Independent Director†¢President and Chief Executive Officer – Tony Tan Caktiong †¢President, Greenwich Business Unit and Chowking Philippines – Isaias P. Fermin †¢President, Red Ribbon Philippines – Joseph Tanbuntiong†¢Chief Operating Officer and Treasurer – Ernesto Tanmantiong †¢Vice President / Country Manager, Hong Kong & China – Annabelle R. Carlos †¢Vice President, Corporate Affairs & Assistant Corporate Secretary – Claro F. Certeza †¢Vice President, Commissary – Bellen O. Rillo†¢Vice President, Corporate Marketing – Daniel Rafael Ramon Gomez †¢Vice President, Engineering Division – Evaristo S. Francisco, Jr. †¢Vice President, Human Resources – Roberto T. Poblete †¢Vice President, Internal Operations – Manalo P. Tingzon †¢Vice President, Operations – Ma. Lourdes S. Villamayor †¢Vice President, Research & Development – Remedios V. Baclig †¢Assistant Vice President, Corporate Accounting – Anastacia S. Masancay †¢Assistant Vice President, Franchising – Lilian S. Reventar †¢Assistant Vice President, Information Technology – Rhomilda O. Baylon †¢Chief Finance Officer – Ysmael Baysa†¢Corporate Counsel (Officer-In-Charge) – Ricky Salvador †¢Corporate Secretary – William Tan Untiong †¢Head, International Business Development for India and Indonesia – Erwin M. Elechicon †¢Investor Relations Manager – Cossette PalomarMissio nTo serve great tasting food, bringing the joy of eating to everyone.VisionWe are the best tasting QSR.. The most endearing brand†¦ that has ever been†¦ We will lead in product taste at all times†¦ We will provide FSC excellence in every encounter†¦ Happiness in every moment†¦ By year 2020, with over 4,000 stores worldwide, Jollibee is truly a GLOBAL BRAND.

Effectiveness of the Transmission of Monetary Policies and Lessons Essay

Effectiveness of the Transmission of Monetary Policies and Lessons Learned in 2007 and 2008 Global Financial Crisis - Essay Example It has also resulted in a number of debates as regards the effectiveness of the transmission mechanism of monetary policies. In the past, monetary policy has been associated with a financial stability of an economy. The problem that a majority of countries face is concerned with the effectual transmission mechanism of an effective monetary-policy. A number of lessons can be learned regarding the effectiveness of the transmission mechanism of monetary policy by central banks in the year 2007 and 2008. The lessons would be based on interest rate, inflation, exchange rates, balance sheet, expectations, as well as moral hazards that characterized the market prior, during and after the 2008 global economic-crisis. A Brief State of the 2007 Financial Crisis and Failure of the Monetary Policy Transmission Mechanism Although financial crisis is not a unique occurrence, the financial crisis of 2007 was more global than other economic crises experienced in the past (Mankoff, 2010). It is also regarded as the most impactful relative to other proceeding financial crises. Due to its high level of degree in terms of impact and globalization, a large number of monetary policymakers were compelled to utilize both conventional and unconventional financial policies. A majority of economic analysts as well as financial institutions in the world were surprised by the fast pace at which the subprime crisis in the US led to a world financial crisis (Cecchetti, 2009, p. 53). The global financial crisis led speedily to a world economic crisis. This fast pace left a considerable number of individuals in the business and financial circles with unanswered questions regarding the effectiveness of the transmission mechanism of monetary policy. In particular, the 2007 and 2008 financial crisis questioned the effectiveness of various institutional frameworks (Mankoff, 2010). It also questioned the national and internal monetary instruments in ensuring financial stability at the global level. In relation to Shiller’s (2008) argument, attention has been paid to the role and operation of financial markets, as well as financial institutions. Specifically, questions regarding the effectiveness of financial institutions and markets to price and administer risk have been raised. Analysts observe that there have been inability of private sector to manage risk effectively, and failure of public sector’s supervision of the financial markets (Mankoff, 2010). Interest rate While the financial world changed in the year 2007, the monetary instruments were not updated to handle the change (Swagel, 2009, p.43). The instruments were not transmitted effectively to realize positive impact. Initially, interest rates were traditionally treated as the main financial instrument that would protect an economy against financial difficulties, as well as enhance economic growth. A large number of emerging economies, including India, lowered their interest rates in an anticipation th at both prices and output would respond effectively. However, both output and prices did not respond in respect to the anticipation. An interest rate is majorly used in managing the supply of money in an economy. Interest rate has been observed by many individuals as a key monetary instrument in controlling lending and borrowing between financial institutions and consumers. The borrowing and lending is also executed amongst financial institutions. In the event that there is a high supply of money in an economy, a central bank would opt to raise the level of an interest rate. In this regard, credit availability is likely

OR Proceedures Essay Example | Topics and Well Written Essays - 750 words

OR Proceedures - Essay Example Therefore, it is the responsibility of the nurse to carefully assess the magnitude of the patients' fears and duly inform the physician of the situation. It is also natural for a patient to feel fear of pain and discomfort. The nurse may alleviate the fear by assuring the patient of the availability of analgesic and anesthetic drugs during the surgery and the option of having a self-induced pain medication post-surgery. In cases where there is possibility of body mutilation/alteration and inability to perform activities of daily living (ADL) as a result of the operation or the prevailing disease, it is best for the nurse to give the emotional support the patient needs in an "open, nonjudgmental attitude" (Bucher et al., 2007, p.345). Furthermore, the nurse might seek the support of the patient's family to help the patient during this difficult time and inform both the patient and the patient's family of the availability of support groups and other medical teams that could help the pa tient adjust to the new situation. Careful, competent, and considerate care throughout the surgical experience will help reduce any anxiety felt by the patient and his family, will help assist in the recovery of the patient, as well as help prevent future complications. Preoperative Care In the preoperative period, it is essential that the nurse perform a thorough assessment of the patient's physiologic and psychologic status to ascertain the mental and physical fitness of the patient in going through with the procedure and, to determine the appropriate nursing intervention to be carried out in order to further prepare the patient for his surgical experience. Health and Medication History Taking. Relative information about the patients' past health and medication history including inherited familial traits might uncover facts that could very well hinder the possibility of having a safe and favorable surgical outcome and/or increase the risk factors of having the surgery. For this reason, information on previous hospitalizations, surgeries, allergies, genetic predispositions, past and present medications and, other health practices such as drinking or smoking habits should be collected and documented appropriately. Review of the Systems. Specific aspects of the body systems should also be assessed carefully and competently. It is very important that the preoperative nurse is knowledgeable of what to look for in each body system as this might, again, affect the overall outcome of the operation. Charting of the patients' intake and output in determining the fluid and electrolyte balance is critical for this purpose. Patient Teaching. Patient teaching should include learning needs, discussion of diagnostic tests, establishing diet regiments and family visits, review of OR procedures, effect of medications to be administered, purpose and administration procedure of IV therapy, pain and pain management, recovery process and, post-operative exercises to be learned. This would also be a good opportunity for the nurse to assess the knowledge of the patient regarding the why's and for's of the surgery and ascertain the need for further teaching from the physician. Surgical Preparation. Surgical preparation would depend on the type of surgery to be