The Law of Obligations and Evidence - Free Essay Example

Sample details Pages: 5 Words: 1591 Downloads: 4 Date added: 2017/06/26 Category Law Essay Type Cause and effect essay Level High school Topics: Contract Law Essay Did you like this example? 1. Brief introduction to the scenario 1.1 Significant facts found between Barnard Building (BB) and Happy Construction (HC) HC negotiated with BB and was successful in winning the contract. BB sent the offer letter to HC with detailed term and conditions via post. HC sent a counter offer via post. No communication is made from BB afterwards. HC signed a contract with Edward Building Specialists (EBS), and sent a letter to BB to withdraw their acceptance. BB threatened to take legal action against HC. 1.2 Significant facts found Between EBS and HC HC signed the contract with EBS.to build steel structure for a high rise building. HC emailed a scanned version of the signed contract documents to EBS. Also HC sent the original signed documents to EBS via courier. Contract Clauses 5 and 10 are related to employeesà ¢Ã¢â€š ¬Ã¢â€ž ¢ health and safety and milestones of the project in order as given in the scenario.[1] HC circulated EBSà ¢Ã¢â€š ¬Ã¢â€ž ¢s health and safety procedures among all employees. All the employees did not read but signed a document confirming they have understood the policies. Wearing safety harness and being clipped on the safety rail is one of those procedures while working at height. One of HCà ¢Ã¢â€š ¬Ã¢â€ž ¢s employees fell down from the height and became paraplegic, as it was second fall and most serious. As the result EBS decided to terminate HC. 1.3 Significant facts found Between Susan and HC Susan is HCà ¢Ã¢â€š ¬Ã¢â€ž ¢s employee working as a steel welder. Health and safety procedures were circulated to her as well. Always she unclipped her from the safety rail while moving one section to the next, as being clipped while moving was impractical. She did not inform to anyone about that or did not listen her colleagueà ¢Ã¢â€š ¬Ã¢â€ž ¢s advice. She fell down while unclipped and became paraplegic. 2. Advice to HC by considering events occurred between BB and HC A negotiation is a formal discussion between people who are trying to reach an agreement.[2] While two parties are engaged on negotiation there will be a lot of bargain on the offer until the à ¢Ã¢â€š ¬Ã…“meeting of mindsà ¢Ã¢â€š ¬Ã‚  is reached. Parties can halt the negotiation at any levels, either initial or matured stage, if the meeting of minds is not reached. Sometimes this will cause disputes, because one party may think that other party has agreed a contract with them while other party will be thinking that they are still negotiating on the offer.[3] In the given scenario, there is no such misunderstanding from BB, because the scenario says à ¢Ã¢â€š ¬Ã…“HC was successful in winning the contract and BB prepared the offer letter with detailed terms and conditions of the proposed contract.à ¢Ã¢â€š ¬Ã‚ [4] A contract is a legally binding or valid agreement between two parties.[5] Generally a contract can be agreed either orally or in writing. A legally binding agre ement includes, Don’t waste time! Our writers will create an original "The Law of Obligations and Evidence" essay for you Create order The intention to create legal relations As construction agreements are falling under commercial agreements, we can presume BB and HC had intention to create legal relations.[6] Legal capacity BB and HC as construction companies will be registered under Companies Act 1996, therefore we can presume they have legal capacity. Offer In simple terms this is a willingness to do or give something to somebody. It is seen as a main body of a contract. Price, unit, quantity and the like form parts of an offer. Also Offer can be in verbal. Acceptance An acceptance is an unqualified assent to all the terms of the offer.[7] It can also be in verbal form Consideration (in English Law) Consideration is the benefit that each party gets or expects to get from the contractual deal[8] Here BB will pay wages to HC to the steel framework built on behalf of it. à ¢Ã¢â€š ¬Ã…“à ¢Ã¢â€š ¬Ã‚ ¦the doctrine of consideration requires the existence of a bargain but it does not demand that the bargain be a good one.à ¢Ã¢â€š ¬Ã‚ [9] Therefore we can conclude in our case that the contract formed orally. It is not must to a construction contract to be in writing, but it is preferred to avoid the unnecessary disputes in future. But the consequent events are not supporting us to come to that conclusion, because, afterwards BB sent the offer letter to HC with all the terms and conditions. The basic formula of a contract is that there must be an offer, followed by an acceptance meeting the offer.[10] Also, we are not sure that the written offer sent by BB comprised all the scope, terms, and conditions as they discussed at the time of negotiation. Generally to form the contra ct the offeree needs to accept the offer from the offeror as is. Otherwise it will be treated as rejection of the initial offer. In our case, upon the receipt of the offer from BB, HC made minor changes on payment terms and completion date. It means HC did not reject the offer but made minor changes on the original offer. This is called as qualified acceptance or counter offer in law. If offeree is sending a counter offer it means the initial offer has gone null and void. In other words initial offer has been killed by counter offer, no longer capable of acceptance. Even HC accept again the initial offer also, BB does not required to bind on it.[11] But If BB agreed to the changes made by HC then there will be a new contract formed. Another important point here is that HC sent its qualified acceptance via post. According to the postal rule, an acceptance becomes effective from the time of posting. But as this is a counter offer contract will not become valid until the initial offero r accept the offer. Here in our case, BB was silent on the counter offer by HC. Expect the rare situations, silence will not be considered as acceptance of the offer. Even though, Whilst HC signed a contract with EBS, concurrently it sent a letter to withdraw their acceptance to BB. It can be seen only as revocation of counter offer. An offer can be withdrawn before the acceptance by effectively communicating with the offeree.[12] In England Wales jurisdictions if the offeror did not define the period of time open for the acceptance along with its own consideration the offer can be withdrawn at any time.[13] It can be applicable to counter offer as well. So in our case HC revoked its counter offer according to right procedures. But BB threatened to take legal action against HC. In case, if BB goes for a legal action, it needs to prove that it is suffering to a material extent as it took some steps based on the promises of HC at the time of negotiation with prior knowledge of HC. But this concept is widely applicable only in Scotland. English courts may see this case in such view if applicable. Generally English courts do not accept prior negotiations as evidence because the bargains between the parties during the negotiation stages towards finalising the contract may change suddenly until the contract is agreed.[14]Also BB cannot argue that HC signed a contract with EBS before revocation of their qualified acceptance, because HC as a construction company has right to involve in one or more contract according to its operational capacity. 3. Advice to HC by considering events occurred between BB and HC 4. Bibliography 4.1 BOOKS Richard Stone, The Modern Law of Contract, 10th ed, Routledge, Oxon,2013 Fafinski, S Finch E, Law Express: Contract Law (Revision Guide), Pearson Education: 2012 McKendrick, Contract Law, Text materials 2003 4.2 ELECTRONIC SOURCES The law hand book, your practical guide to the law in Victoriaà ¢Ã¢â€š ¬Ã¢â€ž ¢ https://www.lawhandbook.org.au/handbook/ch12s01s01.php accessed 10 January 2015. Magazine insite law, Daily online law news and law blogsà ¢Ã¢â€š ¬Ã¢â€ž ¢ https://www.insitelawmagazine.com/ch4acceptance.htm accessed 10 January 2015. Nolo, Law for all, Consideration: Every Contract Needs Ità ¢Ã¢â€š ¬Ã¢â€ž ¢ https://www.nolo.com/legal-encyclopedia/consideration-every-contract-needs-33361.html accessed 10 January 2015. Sarah Cole, à ¢Ã¢â€š ¬Ã‹Å"Mersey Docks Harbour Board v. Coggings Griffithsà ¢Ã¢â€š ¬Ã¢â€ž ¢ https://www.safetyphoto.co.uk/subsite/case m n o p/Mersey Docks v. Coggins Griffiths.htm accessed 31 December 2013. 4.3 CASES Edwards v Skyways Ltd. [1964] 1 WLR 349 Harvey v Facey [1893] UKPC 1, [1893] AC 552 Pickfords Ltd v Celestica Ltd [2003] All ER (D) 265 (Nov) Byrne Co v Leon Van Tien Hoven Co [1880] 5 CPD 344 Routledge v Grant (1828) 4 Bing 653. Prenn v Simmonds [1971] 1 WLR 1381 4.4 STATUTORY PROVISIONS Companies Act 1996 Law of Property (Miscellaneous Provisions) Act 1989, s.1 Unfair Contract Terms Act 1977(UTCA) S2 S14 Personal Protective Equipment at Work Regulations 1992/2966 Health and Safety act 1974 Occupiers Liability Act [1] à ¢Ã¢â€š ¬Ã…“Clause 5. Happy Construction must ensure that all of their employees are informed and abide by EBS health and safety policies at all times whilst on site. Any breach of this clause will result in Happy Construction assuming all liability for any tortious acts resulting from the breach.à ¢Ã¢â€š ¬Ã‚  à ¢Ã¢â€š ¬Ã…“Clause 10. Happy Construction undertake to meet all milestones. Failure to do so where there is no reasonable reason for the delay, will result in the EBS having the right to terminate the contract immediately.à ¢Ã¢â€š ¬Ã‚  [2] Oxford advanced learnerà ¢Ã¢â€š ¬Ã¢â€ž ¢s dictionary 8th edition [3] Harvey v Facey [1893] UKPC 1, [1893] AC 552 [4] This is statement will be contrasted further below [5] https://www.lawhandbook.org.au/handbook/ch12s01s01.php [6] Edwards v Skyways Ltd. [1964] 1 WLR 349. [7] https://www.insitelawmagazine.com/ch4acceptance.htm [8] https://www.nolo.com/legal-encyclopedia/consideration-every-contract- needs-33361.html [9] McKendrick, Contract Law, Text materials 2003 [10] BSM 743 Lectures Notes Topic 4: Introduction to Contractual Obligations Formalities [11] Pickfords Ltd v Celestica Ltd [2003] All ER (D) 265 (Nov) [12] Byrne Co v Leon Van Tien Hoven Co [1880] 5 CPD 344 [13] Routledge v Grant (1828) 4 Bing 653. [14] Prenn v Simmonds [1971] 1 WLR 1381

Critical Analysis of an Article on HIV/AIDS Prevention...

Introduction: This review is about the main points, gaps and critique of the article. The main information provided in this review will help you gain new insight on women HIV/AIDS prevention issues. As a society, we focus on individualist ways of prevention. We try to enforce and educate individuals on HIV/AIDS prevention on an individual level but it’s more complex because women have a lower status compared to men, this disempowerment can lead to violence in relationships with men therefore, negotiating condom use for women can lead to violence. The angle this review will be focusing on is how these gender roles affect women’s HIV sexual risk behaviours and behaviour reduction. Article Structure: The article was organized very well†¦show more content†¦Lastly, we need to understand that HIV/AID affects men and women differently; women are more susceptible physically and emotionally. Men can transmit the virus to females easier then vice versa. Since men usually have higher power than women, they are more likely to decide on condom use. There are still gaps in HIV/AIDS prevention. Firstly, just recently the female condom has been put into place to give women the power in controlling their sexuality but this is not the social norm compared to the male condom, thus creating many problems still. The female condom is not as widely accepted therefore it still creates barriers (e.g. accessibility) for many women using it. Secondly, most researchers did not provide a theoretical framework for understanding gender differences or the social factors that could be important for risk reduction of HIV/AIDS in women. Article critique: The limitations stood out to me about the article. Since most of the models (e.g. The health belief model (HBM) or The theory of reasoned action model (TRA)) are based on the individual and rarely consider the cultural and social context consequently failing to account for behaviour change and risk factor. 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Booker T. Washington (542 words) Essay Example For Students

Booker T. Washington (542 words) Essay Booker T. WashingtonBooker T. Washington was the first African American whose likeness appeared on a United States postage stamp. Washington also was thus honored a quarter century after his death. In 1946 he also became the first black with his image on a coin, a 50-cent piece. The Tuskegee Institute, which Washington started at the age of 25, was the where the 10-cent stamps first were available. The educators monument on its campus shows him lifting a symbolic veil from the head of a freed slave. Booker Taliaferro Washington was born a slave on April 5, 1856, in Franklin County, Va. His mother, Jane Burroughs, was a plantation cook. His father was an unknown white man. As a child, Booker swept yards and brought water to slaves working in the fields. Freed after the American Civil War, he went with his mother to Malden, W. Va. , to join Washington Ferguson, whom she had married during the war. At about age 16 Booker set out for Hampton Normal and Agricultural Institute, which had been established by the chief of the Freedmens Bureau to educate former slaves. He walked much of the way, working to earn the fare to complete the long, dusty journey to Virginia. For his admission test he repeatedly swept and dusted a classroom, and he was able to earn his board by working as a janitor. After graduation three years later he taught in Malden and at Hampton. A former slave who had become a successful farmer, and a white politician in search of the Negro vote in Macon County obtained financial support for a training school for blacks in Tuskegee, Ala. When the board of commissioners asked the head of Hampton to send a principal for their new school, they had expected the principal to be white. Instead Washington arrived in June 1881. He began classes in July with 30 students in a shanty donated by a black church. Later he borrowed money to buy an abandoned plantation nearby and moved the school there. By the time of his death in Tuskegee in 1915 the institute had some 1,500 students, more than 100 well-equipped buildings, and a large faculty. Washington believed that blacks could promote their constitutional rights by impressing Southern whites with their economic and moral progress. He wanted them to forget about political power and concentrate on their farming skills and learning industrial trades. Brickmaking, mattress making, and wagon building were among the courses Tuskegee offered. Its all-black faculty included the famous agricultural scientist George Washington Carver. The open controversy over acceptable black leadership dated from 1895, when Washington was invited to address a white audience at the Cotton States and International Exposition in Atlanta, Ga. While emphasizing the importance of economic advancement to blacks, he repeatedly used the paraphrase, Cast down your bucket where you are. Some blacks were incensed by his comment, The wisest among my race understand that the agitation of questions of social equality is the extremest folly. Others feared that the enemies of equal rights were encouraged by his promise, In all things that are purely social we can be as separate as the fingers, yet one as the hand in all things essential to mutual progress.

Stress Management Trends and Growth

Question: Discuss about the Stress Management Trends and Growth. Answer: Introduction: Stress is an emotional feeling of an individual that appears when an individual is faced with some problem or demand (Girdano et al. 2012). Stress put effect on the physical and psychological condition of a person and might result in mental, physical and emotional strain. Acute stress: The most common form of stress that comes from the intense pressure and demand at work. This type of stress is most common among people at the work place when the employees are told to focus on their work (Johnson et al. 2013). Episodic acute stress: The stress that occurred among people due to excessive worrying on a particular issue (Wolever et al. 2012). At times, employees have to deal with certain projects that last for a long time. In those projects, episodic acute stress occurs easily. Chronic stress: The stress that an employee might have to face with the fear of losing the job (Gorman et al. 2012). This type of fear is common among the employees due to intense competition and replacement of employees at work. The aim of the paper is to understand the level of stress at work. JP Morgan Chase has been selected for the case study of the paper. An evaluation of the various causes of stress and the symptoms of the stress at the Organization will be carried on. On the basis of the finding, certain solutions will be proposed to reduce the level of stress and the role of the HR management in managing the level of stress at workplace. Stress caused to an employee at the organization can be broadly divided under two categories. These are: Organizational factors: The stress that is caused due to increasing responsibility or pressure of work at the workplace on the employees is considered to be organizational stress factors (Rose et al. 2013). A number of reasons can be stated as under which causes stress at an organization. Task demand: It might happen that the responsibility on an employee is greater than the capability of the person. In many organizations, the work has become target based and every employee has to meet target. However, for few, meeting this target might create stress (Wolever et al. 2012). The situation at JP Morgan Chase is such that the employees are expected to be flexible to work at different positions. Sometimes, the responsibility might not match with the personality and trait of the person performing the task (Wolever et al. 2012). Role demand: Every employee is given different roles and responsibilities to perform. An employee is usually faced with stress when the person is not able to perform his or her responsibility effectively (Lottrup et al. 2012). This is when, the person get pressurized from the management that increases the stress. Interpersonal demand: People at the higher authority often have to perform more responsibility at the workplace. Expectation automatically increases on those groups of people and it demand for more work pressure that ultimately results in stress (Bhui et al. 2016). Organizational Structure: As per the organizational structure, certain vital responsibilities rest on few persons and they have to deal with various types of circumstances. This is when this group of people have to suffer utter distress (Shaw et al. 2012). The organizational structure is rigid and the employees are supposed to follow the instruction of these people at higher position. Organizational leadership: Leaders have to perform lots of responsibilities in managing people under them. At many times, there occur problems due to misunderstanding or mismatching attitude with the leaders and the team members (Jenny et al. 2015). This automatically creates stress on the leader. No such issues have been evident in terms of bad leadership in the organization at JP Morgan Chase. Personal Factors: Apart from the issues at the organization, a person might suffer from stress due to various personal factors. These factors are: Family Issues: As commented by Berman et al. (2015), that apart from the organizational issues, a person has to face with family issues as well. Any issue related to family problems is a major reason of stress for a person that at times reflects on the work of the person as well. Economic Problems: Economic and financial problems are common among people that creates stress. Life activities are largely depended on money. When a person lacks sufficient money, the person develops stress (Cooper 2015). This stress can directly reflect in the performance of the person at the workplace. The employees that get less salary are more often to fall under this category of stress. Inherent Personality Characteristics: Some people have certain characteristics of inheriting stress. These people suffer from ultimate stress levels even for minute issues. For those people, taking stress is common (Shaw et al. 2012). However, at many times, due to this nature of people, the Organization as a whole has to suffer. These are some of the reasons behind the creation of stress in an individual but it has to be understood that stress is a kind of emotion that might arise at any point of time due to any condition. The particular organization should have the basic responsibility of taking care of the situation if the employees are found to suffer due to them. Symptoms of Stress: The harmful emotional and physical responses that happen to a person when there is a conflict between job demand and the performance of the employee at the workplace results in workplace stress. A number of symptoms are common among the employees when they suffer from stress. These symptoms can be broadly categorised into three categories. These are: Physiological symptoms: These symptoms are observed in a person in terms of certain changes in the traits and characteristics of the person. These include, sudden increase of blood pressure, headache and to adverse situation increase of the pulse rate of the person under stress (Bhui et al. 2016). Psychological symptoms: Increased level of stress also leads to certain psychological symptoms as well. These include increased level of tension, anxiety and boredom. The person might suffer procrastination that ultimately leads to the decrease of productivity of the person (Abraham 2013). Behavioural symptoms: a number of behavioural symptoms can also be observed on the person suffering from stress. These behavioural stress symptoms include increased smoking or other addictive substances like increasing consumption of alcohol. At times, it is often found that due to increased level of stress, the person suffering from stress is often found to fight with various situations like isolation from self or conflicting with others at work or personal place (Houghton et al. 2012). The stress sometimes comes out by the means of frustration, irritability, anger, powerlessness and restlessness. However, these symptoms are often expression less but requires great effort to deal with the stressful situation. It completely depends on the part of the victim to understand the problems and fight against the odd situations. It is only when the person is able to combat with the situation the level of stress can be reduced (Bhui et al. 2016). The above stated symptoms are common among the employees of various organizations. JP Morgan Chase is also a well established and reputed company in its industry. The company puts pressure on the employees to fight against the increasing competition in the market. It is by the means of increasing the productivity of the organization, the employees are often over stressed with huge responsibilities and duties. Reducing Stress: As stated by Houghton et al. (2012), in order to keep the functionalities and operations of the organization keep going on in a right way, it falls under the responsibility of the HR department of the organization to tackle the situation and manage to reduce stress. Role of HR department in helping employees cope with stress: Human resource staff should present on the front line for dealing with situations of stress related to work. In fact, it falls under the responsibility of the staff of the HR department to come up with different policies and strategies to help employees fight against stress. Some of the steps that the HR of the organization might undertake to fight against the stress caused among the employees can be stated here: Matching individual to their jobs: One of the crucial jobs of the HR is to understand the right person for the right job. If the right person is given the right duty to perform, then there will be definitely less stress among the people working in the organization (Houghton et al. 2012). Clarifying expectations: At times, it happens that the expectation of the employees is very high in regards to the job and responsibility that they have to perform (Michington 2014). It is important to clarify those expectation and as per the necessity, fulfilling the expectation of the employees. At JP Morgan, the organization has a number of retention and motivation plans that helps the employees to meet their expectation. Redesigning jobs: As commented by Bhui et al. (2016), sometimes the employees should be given different jobs to perform at the organization. For companies like JP Morgan Chase, this could be an easy way to combat against the stress suffered by the employees due to their job role. At the Bank, the job responsibilities are often shuffled and reshuffled that the employees do not face boredom while doing their jobs. Offering employee involvement and participation: Another way by which employees can be motivated and they can be made stress relieved is by offering them involvement and participation with the higher authority and major decision making functionalities of the organization (Michington 2014). At JP Morgan Chase, it has been observed that the employees working with the company for a long time are often involved with the management decision. This way they are motivated and stress is reduced (Frost 2014). Wellness Programs: Every organization should run wellness programs as well to fight against any situation that leads to creation or increase of stress among the people at the organization. Such programs might include offering office parties at a regular interval that help to reduce the regular burden and stress of the employee (Romious et al. 2016). The management of JP Morgan EAPs: Employee Associate Programs are also effective ways to fight against increasing stress among the employees or people at work. There are a number of EAPs that are designed to improve the performance of the employees at JP Morgan Chase (Michington 2014). Conclusion: The report highlighted the different types of stress and the reason behind the creation of stress among the employees of an organization. A case study of JP Morgan Chase, the bank has been considered as the case study for the report. It has been observed that there are various types of stress that occurs on an individual due to some activities at work. A number of situations have been identified that reduces the stress on the employees at the organization. It falls under the responsibility of the HR department of the organization to understand the situation that creates stress among the people and think of better ways to fight against those situations. It has also been found that the HR management of JP Morgan think of the employees at the workplace and often make efforts to reduce the stress of the employees. There are a number of retention policies and strategies as well that are designed separately to help the employees to overcome any kind of situation that causes stress. By the end, it can be said that in an organization, there will be a number of situations that will create distress for the people working in the organization that will ultimately result in creation of the stress but it should be the prime responsibility of the HR department to understand the situation and think of better ways to improve the condition of the workplace. References: Abraham, S., 2013. Workplace Stress and Its Management. Berman, E.M., Bowman, J.S., West, J.P. and Van Wart, M.R., 2015.Human resource management in public service: Paradoxes, processes, and problems. Sage Publications. Bhui, K., Dinos, S., Galant-Miecznikowska, M., de Jongh, B. and Stansfeld, S., 2016. Perceptions of work stress causes and effective interventions in employees working in public, private and non-governmental organisations: a qualitative study.BJPsych Bull, pp.pb-bp. Cooper, C.L., 2015. Stress Management Interventions: Reflections. InDerailed Organizational Interventions for Stress and Well-Being(pp. 271-273). Springer Netherlands. Frost, J.G.L., 2014. EEOC v. JP Morgan Chase Bank, NA. Girdano, D., Dusek, D.E. and Everly Jr, G.S., 2012.Controlling stress and tension. Pearson Higher Ed. Gorman, A.M., Healy, S.J., Jger, R. and Samali, A., 2012. Stress management at the ER: regulators of ER stress-induced apoptosis.Pharmacology therapeutics,134(3), pp.306-316. Houghton, J.D., Wu, J., Godwin, J.L., Neck, C.P. and Manz, C.C., 2012. Effective Stress Management A Model of Emotional Intelligence, Self-Leadership, and Student Stress Coping.Journal of Management Education,36(2), pp.220-238. Jenny, G.J., Brauchli, R., Inauen, A., Fllemann, D., Fridrich, A. and Bauer, G.F., 2015. Process and outcome evaluation of an organizational-level stress management intervention in Switzerland.Health promotion international,30(3), pp.573-585. Johnson, S.J., Holdsworth, L., Hoel, H. and Zapf, D., 2013. Customer stressors in service organizations: The impact of age on stress management and burnout.European Journal of Work and Organizational Psychology,22(3), pp.318-330. Lottrup, L., Grahn, P. and Stigsdotter, U.K., 2013. Workplace greenery and perceived level of stress: Benefits of access to a green outdoor environment at the workplace.Landscape and Urban Planning,110, pp.5-11. Minchington, B., 2014. Who must lead employer branding?: international waters-employer branding.HR Future, pp.14-17. Romious, T.S., Thompson, R. and Thompson, E., 2016. Ethics Training and Workplace Ethical Decisions of MBA Professionals.Journal of Education and Learning,5(1), p.190. Rose, R.D., Buckey, J.C., Zbozinek, T.D., Motivala, S.J., Glenn, D.E., Cartreine, J.A. and Craske, M.G., 2013. A randomized controlled trial of a self-guided, multimedia, stress management and resilience training program.Behaviour Research and Therapy,51(2), pp.106-112. Shaw, W.S., Tveito, T.H., Geehern-Lavoie, M., Huang, Y.H., Nicholas, M.K., Reme, S.E., Wagner, G. and Pransky, G., 2012. Adapting principles of chronic pain self-management to the workplace.Disability and rehabilitation,34(8), pp.694-703. Wolever, R.Q., Bobinet, K.J., McCabe, K., Mackenzie, E.R., Fekete, E., Kusnick, C.A. and Baime, M., 2012. Effective and viable mind-body stress reduction in the workplace: a randomized controlled trial.Journal of occupational health psychology,17(2), p.246.

Health Planning Services

Introduction Health and wellbeing holds a very critical importance in each of us. This importance is only recognisable when we face threat of a potential loss of wellbeing, mobility, or life itself. The ‘rule of rescue’ that we place on our family members, and the community at large means that there is a moral imperative to invest in the wellbeing of known individuals (Sigh Coble 1999).Advertising We will write a custom report sample on Health Planning Services specifically for you for only $16.05 $11/page Learn More Health consumes a considerable portion of our national budget. Nevertheless, it generates a significant proportion of economic activity employing over 7.3% of the population. On the other hand, it underpins our economy making it a highly contentious and political issue at the time of election. Despite the important role of the health system, other sectors like education and employment are equally important and influence the sta tus of a country’s health and wellbeing. The health of our populations and the health systems have continued to improve to prevent, diagnose, and treat. The concern of Australian government is to meet the growing healthcare needs with the limited resources. The Australian health system is under pressure. It is under a constellation of problems and gaps harassing the health care system. This is a critique to a report by the National Health and Hospitals Reform Commission (2009): A Healthier Future for all Australians. The paper looks at several areas of the proposed plan, which I feel are inadequate. A System Out Of Balance: Challenges Illnesses Disease tops the rank of biggest of Australian health problems. Lifestyle and chronic diseases have become more common. In the year 2004-2005, 77% of Australians were suffering from at least one long term health related condition. More than 70% of the health sector spending is consumed by chronic conditions (Spiegel Hyman, 1991). The health sector has always been skewed towards the management of sickness rather than encouragement of wellness. Nationally coordinated mechanism to deliver health promotion services to a margin required to influence the cost of chronic diseases are lacking (Singh, Hinze, Coble, 1999).Advertising Looking for report on health medicine? Let's see if we can help you! Get your first paper with 15% OFF Learn More Workplaces’ role in support of healthy employees is ignored. Level playing field for funding of community based activities and allied healthcare is not maintained. Tension between Private and Public Provision The existence of competitive tension between the private and the public hospitals in the provision lack balance. Patients have to wait for many days in private hospitals as the credibility of public hospitals wane. Health System Is Provider Focussed Than Patient Focussed In the current system, it is the patient who has the role of seeking multiple healt h professionals. The professionals should instead act as a team and practise together to provide care around the whole needs of a person. A Disjunction between Service Provision, Teaching and Research Provision of health care, teaching, and research cause a misunderstanding between corporate and clinical responsibilities of hospitals. Balancing between the three facets of the health system leaves their budget strained while service providers have to balance between being teachers and their patient obligations (Lewis, 2003). Inequities There is a proven gap in access to and in the outcome of health services to different groups in Australia: There is a gap in life expectancy at birth for Aboriginal and Torres Strait Islander peoples Poor support for mentally unstable patients People living in remote areas have little or no access to health care Basic dental care is beyond the reach of common Australians Inefficiencies A high degree of inefficiencies in terms of poor processes, high costs of medical provision, errors, high administrative costs and ineffective treatments adversely impact on patients’ access to quality health care (Carrin, 2009). There is variation in hospital cost per patient, inefficient primary care delivery, neglect of older patients and so on Vision and Reform Goals The report proposes a sustainable, high quality, and responsive health system. To achieve this level, the government should develop a plan that entail moves to improve health. This is achievable under the three reform goals, namely;Advertising We will write a custom report sample on Health Planning Services specifically for you for only $16.05 $11/page Learn More the system be geared towards tackling major access and equity issues that are among issues affecting the health system today Restructuring of the health system to make it better positioned to respond efficiently to emerging issues Creation of a quick and self-improving system capable of long term sustainability. It should be understood that these three reform goal are not phases of reform, they should run concurrently beginning now (Lewis, 2003). Steps to Tackle Major admittance and impartiality concerns Finances to be engaged towards construction of (public) hospitals with major disaster units. This will cater for availability of ready beds and staff. This means that critically sick patients are not kept waiting for long. The maximum time allowed for a sick individual to obtain a range of healthiness services will be identified by the set targets. Redesigning the Health System Propose for establishment of more stand-alone elective surgery services to allow both the planned and emergency patients to be attended efficiently without delays More recovery facilities be built and staffed Establishment of Comprehensive Primary Care Centers and Services for provision of a â€Å"one-stop shop† service. Development of better forms of mutual care across common traditions and specialists. People with chronic diseases and the minority groups will have a choice for registering either with general practice or a primary health care service to provide them with a â€Å"health care home†. Aged care services are given a greater choice, improved primary health, and palliative care support. Embedding liveliness and Self-Improvement Give every citizen a possibility to keep an eye on time. Fund public hospitals depending on the number and the complexity of the patients they treat. The hospices should also be rewarded for performance pointers such as effective communication. Tackling Major Access and Equity Issues This move aims at ensuring that all Australians have access to effective and high quality health services. â€Å"The plan will be turning the aspiration principle into a real and achievable step† (Glanz, Rimer Lewis, 2003). The basis of this goal arises from the realization that there exist health service gaps and inequiti es in the current health system. The focus should be on dental care, public hospitals, and mental health services. Dental care Serious gaps exist in dental health care where a large number of Australians are on the waiting list. Another bigger group cannot access dental health due to high costs associated with treatment. This report proposes a new universal scheme for access to basic dental services – Dental care. Timely access to quality care in public hospitals The reform will improve access to quality care in public hospitals. The whole system will be overhauled. The redesigned system will ensure improved access to primary health care services, recovery after an operation, and support to people with chronic illnesses (Bracht, 1999). Major improvements will be directed to the emergency departments and elective surgery waiting lists. The establishment of National Access Targets will improve on the timeliness of care especially in public hospital services. These changes shoul d serve to strengthen hospitals and make them institution for caring for patients with complex needs (The Commission, 2008). Mental Health Services This plan intends to provide the platform for increased effective response to high prevalence mental health disorder. The reform proposes provision of right support and care services for mentally disturbed people. Ways to ensure there is a range of treatment and support services across health care. Sub-acute services in the community will be expanded (NHHRC, 2009). Aboriginal and Torres Strait Islander health Reduced life expectancy, high maternal and infants rate of mortality and morbidity and low birth weights are some of the issues affecting the Aboriginal and Torres Islander Health. A radical change should be implemented to alter how we take responsibility for improving the health of the Aboriginal and Torres Islander people (Gardner Barraclough, 2002).Advertising Looking for report on health medicine? Let's see if we can help you! Get your first paper with 15% OFF Learn More A new National Aboriginal and Torres Strait Islander health Authority should be formed mandated with the management of funds set aside for their welfare, affordability of fresh food, fruits and vegetable to the remote communities should be beefed up. Redesigning the Health System to Respond To the Emerging Challenges The current health system is only focused on sickness. It is rather reactive not proactive. Measures should be enforced to avail precautionary interventions, change in ailment patterns, and the aptitude and support to initiate and carry on with prevention. Such a move is highly unlikely as it is not possible for the health sector to go out seeking to encourage people to keep healthy. The proposal to form a new agency geared towards carrying out a strategic and premeditated role in driving an elementary paradigm shift in how populace think about wellbeing is a good idea. However, this is a big job (Bell Shalit, 2003). The work itself will require many hands from both th e governments and the public. Perfecting the agency by reaching out to individuals, the health sector Shifting the curve of health spending towards prevention may likewise meet some challenges especially the service and population based interventions. Research reveals that there is presently no comparable sponsor to invest in such field. This role has to be taken by another agency such as the National Health Promotion and Prevention Agency. Trying to plan on intervention, a common approach to evaluation has to be established. This will entail a consistent evaluation of medical care, pharmaceuticals, prevention and population health intervention etc. Such a wide coverage demands cooperation, which is not always guaranteed from all the sectors. Factors Hindering the Implementation of Planning Health Services Political Factors Certain factors are likely to delay the plan such as the increase in demand for, and the expenditure on the healthcare. These factors include the advances in med ical technology, ageing population, increasing chronic diseases and shifts in consumer expectations. If all these issues are to be addressed, the leadership of all governments must be involved. There is no ‘one health system’ in Australia. If the recommendations are to be met at national level, the leadership must be involved (Bratch, 1999). The problem is that Australia does not have a single government responsible for the health policy, its programs and funding. The reform of the health care will call for the leadership and commitment of all the states as well. Funding Reform covers a wide range of initiatives. The initiatives have differing degrees of implementation difficulty ranging from increased funding for health services. This is a tough call especially during this time of aggravated economic crisis. The government is already carrying extra burden funding existing health service and social insurance. Although health service planning is a means to improving heal th services, duplication of duties in other areas of the systems means the government has to dig deeper for more funds that might be unavailable. Genuine Participation Most of the steps advocated for in health plans require genuine participation, which is not always easy to achieve. Serious measures have to be taken to promote community participation in a meaningful and non-tokenistic way. This participation should also be sourced from regional level. Patients’ Perception and Decisions Some areas will require patient’s decision especially when they are dying. This presents yet another uncontrollable factor in health planning (Carin, 2009). In some instances, the decision making will involve more than just the patient and will include informal and family carers supporting health care services. Time The whole process sometimes requires too much time. Educating millions of people about the new health care plan may take years considering that very many areas have to be int egrated into the society. Health Workforce The scale and magnitude of health plan transformational change requires that the number of service providers be more than tripled. The government budget cannot afford the training of such a large workforce bearing in mind that a large proportion of the workers are aged (Eikenberry, 1990). Conclusion Health planning service is vital constituent in health service delivery. Several factors hinder successful implementation of reforms. Factors such as political play, inadequate funding and lack of enough cooperation, insufficient participation and inadequate health workforce hinder implementation of change. The aspects of time and the breath of the health sector are some of the other hindering factors. Reference List Bell, D., Shalit, A. (2003). Forms of Justice: Critical Perspectives on David Miller’s Political Philosophy. Lanham, Md: Rowman Littlefield. Bracht, N. (1999). Health Promotion at the Community Level: New Advances (2. ed.). L ondon: Sage. Carrin, G. (2009). Health Systems Policy, Finance, and Organization. Amsterdam; Boston: Elsevier/Academic Press. Eikenberry, G. (1990). The Seeds Of Health: Promoting Wellness In The 90’s An Anthology On Health Promotion. Ottawa, Ont.: Canadian College of Health Service Executives. Gardner, H., Barraclough, S. (2002). Health Policy in Australia (2nd ed.). London: Oxford University Press. Glanz, K., Rimer, B. K., Lewis, F. M. (2002). Health Behavior And Health Education: Theory, Research, And Practice (3rd ed.). San Francisco: Jossey-Bass. Lewis, M. J. (2003). The People’s Health. New York: Greenwood Press. NHHRC (2009). A healthier future for all Australians: final report, June 2009. Canberra: National Health and Hospitals Reform Commission. Singh, A., Hinze, J., Coble, R. J. (1999). Implementation Of Safety And Health On Construction Sites: Proceedings Of The Second International Conference Of CIB Working Commission W99, Honolulu, Hawaii, 24-27 March 1 999. Rotterdam: A.A. Balkema. Spiegel, A. D., Hyman, H. H. (1991). Strategic Health Planning: Methods And Techniques Applied To Marketing And Management. Norwood: Ablex Pub. Corp. The Commission. (2008). Beyond the Blame Game: Accountability and Performance Benchmarks for the Next Australian Health Care Agreements, A Report. Washington: The Commission. This report on Health Planning Services was written and submitted by user Leo Erickson to help you with your own studies. You are free to use it for research and reference purposes in order to write your own paper; however, you must cite it accordingly. You can donate your paper here.

Dajoji Inc.s Obsession with Functionality has a New Design; Organic Cotton Chefs Jackets

Dajoji Inc.s Obsession with Functionality has a New Design; Organic Cotton Chefs Jackets Vancouver based Dajoji Inc. has unveiled a new design of chef jackets made of organic cotton, with the aim of redefining sustainability in restaurant kitchens. Dajoji Chef Jackets brings eco-fashion awareness on kitchen apparel. Dajoji Chef Jackets are also stylish and as well as having enhanced functionality to improve the chef’s performance in the kitchen.Advertising We will write a custom essay sample on Dajoji Inc.’s Obsession with Functionality has a New Design; Organic Cotton Chef’s Jackets specifically for you for only $16.05 $11/page Learn More Vancouver, BC, March 11, 2011- It is increasingly becoming a common occurrence for restaurants to serve menus not laced with pesticides or antibiotics. However, such sensibilities are not extended to the type of apparel worn by chefs. As a result Dajoji Inc. aims to extend the same eco-friendly sensibilities to chef’s apparel. Cotton grown under conventional methods involves use of hazardous pesticides. Thus, Dajoji Inc., a Vancouver-based company, in collaboration with Texas Organic Cotton Farmers Cooperative, designs stylish organic chef jackets from organic cotton in efforts to extend these sensibilities to the chef’s apparel. According to Dajoji Inc. founder Anthony Nicalo â€Å"sustainability is important, but not the driving force behind Dajoji’s coats†. Nicalo wonders whether it is possible to see a â€Å"chef meticulously plating her latest 100-Mile Diet creation wearing something akin to a paper sack† (Robinson par 4). This underlines Nicalo’s motivation to create jackets designed on functionality rather than on sustainability. Such a motivation emanates from the need to design chef jackets that enable chefs to easily operate in fast-paced environment that is characteristic of a professional kitchen. Nicalo’s creations are informed by his first hand experienced in a fast paced kitchen. Having worked 14 hour a in a busy Chicago restaurant, Nicalo grew tired of the conventional jackets; they were uncomfortable and made the wearer feel boxed, thus the desire to design organic jackets that also improves performance. Having relocated to Vancouver, Nicalo found his match in Leanne McElroy, an ethical fashion designer. Together, they collaborated in creating organic cotton chef jackets, designed to enhance movement; the jackets had â€Å"an athletic fit, a bit of style and lots of comfort† (Robinson par 6).Advertising Looking for essay on art and design? Let's see if we can help you! Get your first paper with 15% OFF Learn More Dajoji’s ties with Vancouver go beyond collaboration with Elroy Apparel; Dajoji Inc. has established ties with other niche market fashion labels such as lululemon athletica. Dajoji Inc. adds value to its products through the expertise of experienced partners such as Jessica Robinson. Robinson, a yoga expert, and brings in keenness a nd attention to detail and explains; â€Å"I love food and wine, which is how I met Anthony, but I’d never thought of crossing that with my love of, and education in, fashion. Kitchen apparel and chef coats in particular are truly in need of change and innovation,† (Robinson par 9). Dajoji’s eco-fashion approach is not merely limited to the fabric, but extends to packaging and production. Dajoji’s eco-fashion mindset extends to, thanks to Jessica Robinson’s obsession with details, the finest particulars such as buttons on the men’s jackets. These are developed from eco-friendly materials such as tagua nuts, naturally found in South American Rainforest. The use of these materials generates economic benefits in Ecuador by enabling local gatherers to engage in eco-friendly alternatives other than clearing rainforest. Dajoji Inc. aims to make Dajoji Chef Jackets available for both male and female chefs. Thus, it is offering them at a discounted rate of $100CAD (Robinson par 13). For further information on Dajoji Inc., Dajoji Chef Jackets or any other query contacts Jessica Robinson via www.coolcoats.com. All Dajoji products can be purchased through the website. Robinson, Jessica. Dajoji Chef Jackets Bring the Earth-to-Table Ingredients Approach to Kitchen Performance Apparel. 2009. Web. prleap.com/pr/141846/dajoji-chef-jackets-bring-the-earth-to-tableAdvertising We will write a custom essay sample on Dajoji Inc.’s Obsession with Functionality has a New Design; Organic Cotton Chef’s Jackets specifically for you for only $16.05 $11/page Learn More

Methodology-Sheila Essay Example | Topics and Well Written Essays - 2500 words

Methodology-Sheila - Essay Example This qualitative phenomenological study component analyzes electronic records use to improved organizational performance outcome. The study reviews the link between the technological literacy of healthcare professionals and the extent to which performance for optimal improvement. The study plans to view the importance of the functionality of computerized health records in health organizations for successful implementation. This proposed study is significant because it identifies the need to evaluate practitioner perspectives on the use of EHRs (electronic health record). The assessment related to benefits, limitations of technology, and the potential barriers evolving around implementation are aspects of the study. The study information supports change initiatives in the clinical setting. Researchers assess the use of different technology in medical facilities are covered in a range of studies (Angst, Agarwal, Sambamurthy, & Kelley, 2010; Greiver, Barnsley, Glazier, Moineddin, & Harvey, 2011). These studies have included a range of methods for collecting qualitative data reflecting on the perceived benefits of electronic health records in improving efficiencies in the clinical setting. 11 One of the important components of this proposed study is to seek knowledge from healthcare professionals with lived experiences. The study design is a survey of health professionals to gain their perception on patient errors and the capture of data through an electronic health record and paper documentation. Creating a tool to capture effective strategies for patient record keeping in the clinical setting is necessary to review data. Organizational leadership may learn ways to improve patient outcomes through the findings of the qualitative phenomenological study to determine the best approaches to change and methods to reduce errors. 11 The purpose of the qualitative phenomenological study is to explore the effects of health outcomes of the electronic health

Elementary education Essay Example | Topics and Well Written Essays - 750 words

Elementary education - Essay Example Mathematics is a vital subject and is a fundamental part of scientific disciplines. Mathematics is also applicable in daily lives; hence, it is essential for students to learn mathematics. For a mathematics teacher, it is vital to research on the most practical way to teach students, in order to make learning accommodative, to the different, comprehensive speeds of students. Students in this bracket are still experiencing progress in their cognitive development. It is important to use a teaching method that is not too complex, but at the same time, it encourages growth. In elementary school, the concepts covered will prepare the student to face the intricate problems that will be experienced in the other levels of learning. Summary of the concepts Education concept covered in the book† A Problem Solving Approach to Mathematics for Elementary School Teachers.† There are thirteen mathematical concepts covered. These concepts range from numerical systems to algebra thinking. Here, is a summary on the topics covered in this book. The first concept is numerical systems. In this concept, the teacher is expected to talk about numerical systems and describe number sets. The second concept is on whole numbers and the different mathematical operations that can be performed. They include basic operations of like subtraction and addition, division and multiplication. The third concept is on algebra. Some of the lessons learned in this are what are variables, different equations and algebra functions. This topic is viewed as challenging by most elementary students. There is also the theory of ratios and fractions. Also, discussed is how to perform mathematical functions on rational numbers. Decimal and real numbers make up the next concept. The students will be introduced to decimals and how to carry out operations on decimal numbers. Also, included in this concept are real numbers and how they are used in equations. The eighth concept is on proportions and perc entages. In the concept ratios are revisited, proportion and percentages will be introduced to the students. Probability also features as one of the concepts covered in this syllabus. Learning aides like tree diagrams are introduced to help students to comprehend better this concept. Data analysis as a concept is also introduced. The students learn about data and how different data forms are displayed and their applications in statistics. The tenth concept in the course book is on geometry. Different notions about basic geometry are explored, and angles and three-dimension geometry is covered. Measurement concepts make a part of the curriculum, in this concept; linear measurement, areas, volume and mass are discussed. Surface area is also coved and distance theories and the Pythagoras theory feature in this concept. In the last concept, motion geometry is discussed. In this concept, translation, rotation, reflection and size transformations are also covered. All this concepts are ta ilored to suit the cognitive need of the age bracket that is common in elementary schools (Billstein, Lott, 2012). Relevance of the course to teachers Teachers have an extremely crucial part to play in the cognitive development of children. It is, therefore, important for teachers to be aware of the best way to ensure that children are learning and are expanding their mental capabilities. This cannot be realized blindly research is constantly carried on how improve teaching methods. This Studies come up with improvements on the current system, hence; teachers have to be up to speed in order to adapt the positive changes being brought forward through this studies. It is imperative for teachers to study on how to be effective in their work. This course is significant for elementary math’

An Outline History of the World Essay Example | Topics and Well Written Essays - 1250 words

An Outline History of the World - Essay Example It is possible that this pagi consisted of specific clans which later migrated and got divided into large families which were headed by the father, the paterfamilias. Each of these, in turn, had acquired possession of slaves of both genders, called famuli, in the beginning from the native land and later from other regions. The slaves, like women and children, were excluded from the participatory realm of governance in the polis. Individual rights were restricted to the adult male community, in a similar manner to the Greek system, on which the early Roman civilization has borrowed a lot. However, as Boris Piotrovsky points out, there is a different version to the legend of the founders of Rome, Romulus, and Remus, as â€Å"they were the sons of a slave woman and the hearth deity†. 1 Hence the history of ancient Rome, the rise of its Empire, glorious battles and its eventual fall is replete with references to slaves, predominantly from the perspective of the dominant community but interspersed with events that were the first instances of slave revolts which led to legendary epochs. Tacitus’ Annals presents a case of the city prefect Padanius Secundus’s murder by his slaves. The general sentiment regarding the case was to execute all the slaves who were employed in his house. There was a riot in which some members of the Senate were concerned about the cruelty involved in such a decision, taking into account the fact that the slaves included many women and children who were ostensibly innocent. However, the strong arguments made by Gaius Cassius in support of the decision to execute all the slaves won over this concern by some senators to â€Å"eliminate excessive cruelty†2. According to him, â€Å"if we must die, we will not be unavenged nor will the guilty survive†.  

The Importance Of Oil Price In Market Economy

The Importance Of Oil Price In Market Economy Oil price has become a fundamental factor of todays market economy as it influences financial markets as well as consumers, corporations and governments. Oil fluctuation has not only a tremendous impact over the stock markets but also a major influence on the global economy: oil is needed for industrial purpose such as power generation, chemical products, transportation etc. In particular oil demand and supply drive volatility and any upward or downward price movements is tracked by any financial market player as it directly influences future outlook and real growth of exporting and importing countries. Higher crude oil price implies higher price of energy leading to a slower economic growth, inflationary pressure, asymmetrical results on consumers and producers side and global imbalances. Oil scarcity and increasing demand of emerging market countries have changed oil market as well as political uncertainty leads to an increase in oil volatility. Since 2000, crude oil has experienced an incredible price rally, moving from $25 in 2000 to over $144 in July 2008 and getting back later December 2008 to $35. These huge price changes are mainly undesired because they increase uncertainty and undermine investment in oil as well as alternative energy sources. Even if we are getting more and more familiar with this price uncertainty or at least with oil price volatility, it is necessary to understand the key driver of this commodity in order to be able to conduct accurate studies and to forecast and prevent new worldwide market chock: there are mainly two different explanation to oil price behavior. The first one is related to the idea that markets are experiencing a structural transformation in oil price fundamentals; the second one is related to substantial speculation in oil market. The supporters of this second view argue that the massive oil crude price cannot be explained by simple change in market fundamentals but can be rather explained through a market distortion caused by speculators. This dissertation will investigate oil and the oil market players trying to understand the different price determinants and the interaction of key players: it starts with an historical overview of oil price and it successively analyzed oil as a commodity, oil as a financial asset, the role of expectations in the formation of oil price, the industry outlook for the next years, oil derivatives on the financial markets. Oil Fundamentals History Oil industry was born in the 1859 in Pennsylvania, United States when Edwin Drake opened the first oil well. The industry grew slowly during the second half of 1800 when the business pioneer George Bissell together with the banker, James Townsend, established the first oil company: Pennsylvania Rock Oil Company. The industry became more and more attractive and in 1870 John D. Rockefeller established the Standard Oil Company. Boosted by the introduction of the internal combustion engine and by an increasing energy demand caused by the outbreak of World War I, the oil industry became one of the foundations of modern industrial society, ready to overcome coal as the most used and requested energy source. As the graph points out the price of oil remained steady from the beginning of the century until the first energy crisis, risen by less than two percent per year. Spot crude oil price moved from $2.83 per barrel of 1973 to $10.41 of 1974. This increase in price was caused by the oil embargo proclaimed by the OPEC, Organization of Arab Petroleum Exporting countries in response to the U.S. decision to re-supply the Israeli military during the 1973 Arab-Israeli War, fought between Israel and a coalition of Arab states backing Egypt and Syria. The OPEC countries limited their production as well as the shipment of oil cargos to United States and other countries. The embargo led to quadrupled and extremely volatile oil price and it showed how high was the dependency of western economies from the oil reserves controlled by the OPEC members. Following the first oil crisis, in 1979 took place another sharp rise of oil prices following the Iranian revolution: the overthrow of the regime of Sha h Reza Pahlavi triggered a strong speculative movements of oil price. The price increased from the $14 needed to buy a barrel in 1978 to roughly $30 in 1979 causing a widespread panic and affecting geopolitical forces. Moreover in 1980, Iraqi invaded Iran leading to oil cut production of Iraq and a total stop of Iranian production. All these events strongly influenced oil price and demonstrated how pure supply and demand get overcome from sociopolitical facts. The so-called oil glut of 80s changed again the oil market environment as the price of the black gold fell from $35 to $15 in 1986 due to a falling demand, slowed economic activities in industrial countries and an increase in production. The crude oil price fluctuated between $15 and $25 until 1999. At the beginning of the new century the oil price increased exponentially and reaching $30 in 2003, it moved to $60 dollar in 2005 and peaked at $148 in 2008. This incredible ride of oil can be explained by different factor such as decreasing US Dollar value against other currencies, declining petroleum reserves, speculation, increasing demand from emerging market and OPECs lower than expected increase in production. But after reaching the peak on July, 11th 2008 the price declined consistently falling below $100 on September 2008. Because of the financial crisis world oil demand fell rapidly and in just a couple of months it touched the lowest point at $34. Until April 2009 oil price flu ctuated between $35 and $40 and recovered to roughly $70 in early 2010. Oil as a product People are more familiar with refined oil products such as gasoline, diesel, kerosene and heating oil rather than with crude oil. The basic oil refining process is distillation: crude oil is heated and oil products bubble off at different temperatures, the lightest at the lowest temperatures and the heaviest at the highest temperatures  [1]  . Afterward these products are treated further to make finished oil products such as gasoline kerosene etc. Gasoline is commonly used for cars while kerosene is widely developed for airplanes and households illumination heating. Diesel is widespread as combustible for tracks and agricultural machines while heating oil is mainly used for space heating. Oil this different refined products come from crude oil and even if crude oil is considered as a commodity, there are several qualities of crude depending mainly on two different chemical properties: density and sulphur content. Crude oil is therefore divided into heavy or light according to the density level and sweet or sour according to the sulphur content. Nonetheless, in financial market, the three most quoted products are: West Texas Intermediate Crude, WTI very high-quality, sweet, light crude widely traded in Nord-America Brent Crude a basket of 15 similar middle-high quality, light, sweet crude oils extracted in the North Sea Dubai Crude light sour crude oil extracted in Dubai Even though West Texas Intermediate Crude has the highest quality, Brent is used to price two thirds of the worlds internationally traded crude oil supplies according to the International Petroleum Exchange (IPE). Oil characteristics: Exhaustibility One of the leading feature of oil is that oil is a non-renewable resource as once it is consumed, it is no longer available. In particular once extracted, oil is consumed quicker that it is naturally produced: oil is therefore not replaceable within short time. Another very important feature is that supply of such as product is limited relative to demand. This two characteristics are essential to understand that oil can only be analyzed through dynamics models and that unlike standards goods, oil provides oil holder a positive premium known as scarcity rent. When demand for crude oil exceeds supply, oil price earns an economic rent due to its scarcity: in other words, it worth keeping oil underground waiting for increase in demand not covered by an increase in supply. The framework which is widely widespread regarding non-renewable resources is the Hotelling model: first introduces in 1931, the model questioned which is the amount of resources that should be extracted during a certain time frame in order to maximize the profit of the resource holder? Assuming no extraction costs, a risk free rate on investment equal to r and a certain price per barrel, according to Hotelling model, the optimum extraction quantity is the one that leads the price of oil to grow over time at a interest rate r. In other words, the resource holder has two opportunities: he can extract oil today or he can leave it underground waiting for a rose in price. Assuming that he decides to extract a certain amount today, he can invest the proceeds at a risk free rate r; otherwise, if oil price is expected to grow at a higher rate than r, the resource holder is not incentivized to extract oil. Thus, if all the resource holders behave the same way, it is highly probably that oil price will increase. Therefore, according to Hotelling models, the optimum extraction is the one in which oil price grows at the rate of interest. This model suggests and implies that oil price will increase over time: due to oils exhaustibility oil price must increase as fast as it is consumed. Even though Hotellings model is commonly used to predict the shape of oils trend, one of the most important Hotellings assumption is that the reserves of oil are fixed: as can be understood later on in the dissertation, oil reserves calculation is far from being detailed and exhaustive. Oil is extracted as well as found continuously: new reserves become continuously new available resources. Thus, an argument against the Hotelling approach is that it is not possible to evaluate scarcity rent and therefore it is not possible to use models such the Hotelling one which are based on this data. Demand and supply. As for any product, the main drivers influencing oil price are demand and supply. In the long term oil price is determined by the match of demand and supply; however, due to the peculiarities of oil, it is really difficult to predict future price: unknown future events, wars, natural events, OPEC decisions on cutting production and demand elasticity shape different demand-supply equilibriums. While price and income are demands main drivers, on the supply side it is necessary to take into consideration several factor such as reserves, oil depletion, technologies and oil cartel decisions. Oil Supply In January 2010, global oil supply accounts for 85,8 million barrels per day, out of which 51,6 has been produced by non-OPEC countries. There are different factors that are needed to take into consideration analyzing crude oil demand. Evaluating the supply is more complicated than evaluating the demand as there are different player involved, OPEC and non-OPEC countries and there is the central issue related to oil reserves level. First of all, exporting countries do not incur in any storages cost for crude oil as they can simply decide to leave oil underground while importing countries, in order to establish a minimum reserve level, need to built storage facilities. In regard to production countries, the most important and influential player is the Organization of the Petroleum Exporting Countries. While non-OPEC countries act competitively, OPEC is a cartel whose aim is to maximize revenues and profits. OPEC The Organization of the Petroleum Exporting Countries (OPEC) is a permanent, intergovernmental organization founded in Baghdad in 1960 and at that time it encompassed 5 countries: Iran, Iraq, Kuwait, Saudi Arabia and Venezuela. The founding members were later joined by nine other members: Qatar (1961- 2009); Indonesia (1962 2009); Socialist Peoples Libyan Arab Jamahiriya (1962); United Arab Emirates (1967); Algeria (1969); Nigeria (1971); Ecuador (1973); Angola (2007) and Gabon (1975-1994). Since 1965 OPEC headquarters is Vienna. It is interesting to highlight that the declared mission of the organization is to coordinate and unify the petroleum policies of member countries and ensure the stabilization of oil markets in order to secure an efficient, economic and regular supply of petroleum to consumers, a steady income to producers and a fair return on capital to those investing in the petroleum industry  [2]  . In order to understand the relevance of the OPEC countries over oil market, it is important to quantifies to what extend are worldwide oil reserves in OPEC territories: at the end of 2008, world proven crude oil reserves stood at 1,295,085 million barrels, of which 1,027,085 million barrels, or 79.3 per cent, was in OPEC member countries. In 2008 OPEC countries produced around 33 million barrels per day of crude oil, or 45.9 per cent of the world total output  [3]  . Besides owing the largest oil reserves, OPEC countries have the lowest production costs: roughly $4.00 per barrel for Saudi Arabia or $ 4.50 for Iran, as compared, for example, with $9.85 for the North Sea and $12.50 for Brazil.  [4]   Non-OPEC countries Non-OPEC countries are generally considered as price taker and even though in the last decade oil price has grown consistently and observers would expects a proportional increase in non-OPEC supply, the response of oil producers countries outside OPEC has been weak. There are several factors that are needed to taken into account in order to understand this behavior: first of all it is becoming more and more costly to develop oil reserves in this countries and the level of technologies needed to increase or at least maintain stable the production output is really high and expensive. Moreover, price volatility has increased uncertainty, changing the risk profile of non-OPEC countries: they are becoming more sensitive to oil price cycle. Investment are therefore asymmetrical: during tremendous increase in oil price, investment are modest, while during a decrease in crude oil price investment rate in exploration or new technologies decrease consistently leading sometimes to underinvestme nt periods. In order to analyze non-OPEC countries oil supply, it is possible to use a model introduce by Marion King Hubbert in 1956. According to Hubbert model, known also as the Hubbert peak theory, oil production tends to follow a bell-shaped curve which can be divided in three different phases: the first one, the pre-peak phase shows a exponential growth in oil production; around the peak, the production reaches the maximum production level and the production becomes stagnant; in the following phase, the last one, oil production starts a terminal decline due to resource depletion. The peak is reached when half of the oil reserves has been discovered and used: in order to draw the bell-shaped curve, it is necessary to calculate historical cumulative production, discovery rate of new oil deposit and the size of the URR, ultimately recoverable reserves. The main idea of the model is in fact that oil is a finite resources and therefore, when discovery rate is less than the oil consumption rate, oil production starts inexorably to decline with all the related consequences on oil price. The bell curve is drawn considering both the cumulative production and the remaining volume of oil that will be produced as a percentage of the total oil already produced in past. As a consequence it can be used in order to calculate and forecasts oil production and consequently price forecasts. According to Hubbert, North America reached the peak point in 1960, while in United Kingdom and Norway the maximum has been touched in 1999. The limits of this approach are related to the difficulties to calculate ultimately recoverable reserves: improvements in technologies and discoveries of new deposits or higher exploitation of existing deposits are pushing the oil peak to the right. Instead of being static, ultimately recoverable reserve is a dynamic measure: underestimation or overestimation of oil reserves as well as higher rate of technological improvements lead to mistakes in calculation of the year in which world will reach the peak oil. Oil reserves A proper forecast of existing oil reserve is a fundamental aspect of oil supply as it is central to Hubbert peak theory. First of all, it is necessary to define the different type of reserves available: Proved reserves are crude oil reserves that once calculated, provide at least with a rate of 90% of certainty at least the oil crude amount estimated. This depends on how accurate are the geological researches Unproven reserves are crude oil reserves similar to proved reserves but for several reasons such as political or contractual are certain for a rate lower of 90%. Therefore unproven reserves are divided into probable reserves which are reserves that are certain for at least 50 % of the amount estimated and possible reserves which are unproven reserves that are certain only for a 10% of the previous amount estimated Given the different definition of oil reserves, it is very important to highlight that there is not a convergence estimation of oil reserves: several studies calculated different reserves level according to different study methods and according to the extent of proved and unproved oil definition. Another distortion of oil reserve calculation is due to the fact that exporting countries are willing to overestimate their reserves because higher are the reserves, higher is the quantity that they can sell or export. Moreover, higher are the reserves declared, higher are the loan that these countries can raise. There is another issue related to the difference between conventional oil and unconventional oil. Unconventional oil refers to the oil extracted using other techniques than the common oil well method such as biofuels, oil shale, oil sands etc. In addition to these, there are reserves of oil that are yet to be discovered but given the current level of technologies are too difficult to be reached and explored. It is therefore clear that oil reserve calculation is really complicated: according to OPEC annual statistical bulletin 2008, world proven crude oil reserve are estimated to be 1,3 trillion barrels out of which 79, 3% are maintained under OPEC countries ground  [5]  . According to the Oil Gas Journal  [6]  , in January 2009, proved world oil reserves were estimated at 1,342 billion barrels-10 billion barrels (about 1 percent) higher than the estimation for 2008; 56 percent of the worlds proved oil reserves are in the Middle East while just under 80 percent of the worlds proved reserves are concentrated in eight countries out of which only Canada and Russia are not OPEC members. According to BP Statistical Review Of World Energy of June 2009 proven reserves accounts for 1258 billion barrels, AGGIUNGI Oil Demand In 2009 the worldwide oil demand fell by 1.4 percent in comparison to 2008 due to the financial crises that invested mainly OECD countries: this was the biggest drop since early 1980s. During the previous period, 2003-2007 growth rate in oil demand averaged 2,0% per year, 0,8% faster than during the preceding 5 years and 1,2 % faster than it average since 1980  [7]  . Around 90% of demand growth during this period came from non-OECD economies. Indeed, OECD demand has been falling year on year since the end of 2005. Daily crude oil demand in early 2010 has reached 86.5 million barrels as the last quarter of 2009 has been the first quarter of demand recovery after 5 consecutive quarters of decline. GO ON Oil market volatility and elasticity Price elasticity to crude oil demand The relationship between oil demand and price can be analyzed looking at elasticity of demand: elasticity measures the relationship between the change in quantity of oil demand for a given change in oil price. As the chart XX shows, both short term and long term price elasticity of demand are really is low ranging from 0 to -0.6. Furthermore it is clear that short term elasticity of oil demand is even smaller with a range from 0 to -0,1. This means that change in oil price have a very little impact on long term crude oil demand an even lighter effects on short term oil demand. The difference between short and long term demand responsiveness to change in oil price is due to bigger rate of substitution and energy conservation in the long term. What is really important to notice is that oil demand may respond asymmetrical to changes in oil price  [8]  ; in other words there is a substantional difference of demand elasticity for either an increase in price or a decrease in price. For an increase in oil crude price it is expect a reducing demand, but it is not necessarily true that a decreasing oil price would lead to an increase in demand of the same measure: for example an increase in oil price can be exploited in order to invest heavily on innovation and new equipments that would increase oil production leading to a positive impact on price. Last but not least, there is another important aspect concerning demand elasticity that has to be taken into account: the responsiveness of oil demand to a new peak price is different to the responsiveness of oil demand to a price recovering  [9]  . It is possible to describe two different elasticity scenarios at different price levels: elasticity of demand during increase in oil price that lead to new price records, elasticity of demand during increase in oil price following a low point in price history As expected, some studies argues that higher responsiveness of change in oil price can be seen when oil price is reaching new records, while there is a lower elasticity for other changes in price level. Thus, to summarize, elasticity of demand is not always linear, it may respond asymmetrically to changes in oil price and it can be different depending to historical price level. Income elasticity of price crude demand Income elasticity of crude oil demand measures the change in quantity of oil demanded for a given change in income. As the graph xx points out, income elasticity is more responsive in comparison to price elasticity: the long run elasticity ranges from 0,4 to 1,4. Moreover there is an important difference between income elasticity of emerging market and OECD. Emerging markets shows higher income volatility demonstrating how important is oil in their production processes. Spare capacity A very important component and determinant of oil market is oil spare capacity, the amount of excess production that oil producers can bring online quickly. The volume of spare capacity is fundamental as it can be a driver of oil price: spare capacity is in fact utilized to balance excess of oil demand and it can be used to counterbalance temporary oil shock. In other words, spare capacity is a tool that offers flexibility to the market: the higher the spare capacity, the higher is the ability to absorb oil price shock or respond to unexpected increase in demand. Thus in the short term, spare capacity can be exploited to offset increase in demand until oil supply is adjusted to meet demand. As the graph points out , there is an inverse correlation between oil price and spare capacity: high spare capacity level is associated to weak oil price, while when spare capacity is low oil price is expected to be high or increasingly. Spare capacity evolution over years have dropped from 10 million barrel per day of the late 90s to less than 2 million barrel per day or 2% of global oil demand in 2004. In particular, the increase in demand not covered by an increased in supply of non-OPEC countries has been met by OPEC using also spare capacity and therefore diminishing them. As expected, during the credit crunch that took place in late 2008, oil price fell dramatically while the spare capacity increased reaching 6% of global oil demand. According to the International Energy Agency, OPEC spare capacity excluding Iraq, Venezuela and Nigeria, accounts for 5,54 million b/d.. in addition to this, other 5,8 million b/d are estimated to be producible by OPEC countries within 3 months. To sum up, it is clear the role of spare capacity in oil market economy: a relevant inventory allows to maintain the flexibility required in order to play an active role once an oil shock is predicted or strong is conducting price to new records. The key issue is whether it is possible in the current scenario to maintain or even increase spare capacity and which is the player that should take this responsibility. Should oil companies create bigger inventories, even if it is uneconomical from a profits maximization point of view to hold higher reserves than needed, or should national oil companies keep bigger reserves? Oil demand projections According to the World Economic Outlook of the International Monetary Fund issues in April 2009, global oil demand is expected to grow by 0,6% or 540000 barrel per day per year on average between 2008 and 2014. World oil demand will therefore increase from 85,8 mb/d to 89mb/d while in a more conservative scenario it is expected that demand will remain stable around 85 mb/d depending on how fast and how strongly global recovery will take place. Given the recent historical pattern of oil demand it is highly probable that non OECD countries will drive oil demand growth within the next future; oil consumption in OECD countries will tighten. Asia, Middle East and Latin America will increase their oil demand by 2,6%, from 38,3 mb/d to 44,6 mb/d over 2008 to 2014 on average per year while at the same time, OECD consumptions will declined by 1,1 from 47,5 mb/d to 44,4 mb/d. As the graph points out, by 2013 non-OECD oil demand will be equal to OECD oil demand. The growth in oil demand of non-OECD reflects higher GDP growth expected as well as higher income elasticity to crude oil. In fact in several emerging market, oil price is administered: in Iran for example gasoline costs just à ¢Ã¢â‚¬Å¡Ã‚ ¬0,8 per liter while OECD countries are usually more responsive to oil price changes Macroeconomic Variables Exchange Rates The relationship between exchange rates and oil prices is complex and it is necessary to note that generally when there is a depreciation of the dollar, oil price expressed in dollar increases. Being dollar the most widespread currency for oil price, a lower exchange rate of the dollar to another currency leads to a minor foreign currency cost of oil causing a rise in oil demand. This increase in demand put upward pressure on the price of oil. Having said that, it is not possible to estimate a precise relationship between oil price and the value of dollar exchange rate: all it is possible to say is that oil price moves roughly proportionally to change in dollar value ceteris paribus. Thus a 10% increase in nominal exchange value of the dollar causes a 10% decrease in oil price expressed in dollar, ceteris paribus. As the graph XX shows, the dramatically decrease in exchange value of the dollar since 2002 and the strong increase of WTI crude oil price in different currencies, would su ggest the inverse relationship between oil price and dollar exchange rate is true even if it is not possible to evaluate to what extent. Looking at the relationship between oil price and exchange rate, another important factor that should be taken into account is the decision of leading oil exporters: if dollar depreciates against other currencies, oil exporters international purchasing power declines. In order to protect their interest, leading oil exporters tend to tight oil supply, leading to an increase in oil price. Another issue that should be taken into consideration looking at the exchange rate is that United States is a major oil producer and oil consumer; an increase in oil price has therefore a double effect: it leads to a deprecations of dollar against the currencies of exporting countries and an appreciation against the currencies oil importing countries. Even if this two divergent movements of exchange rate should be cancelled out each other, in the last years oil imports of oil in the Unites States has soared causing a major concerns in the American capability to respond to and increasing trade deficit influencing negatively the value of the dollar. Interest rates The relationship between oil price and interest rate is not univocal as it is impossible to identify a singular and unique effect of changes in interest rate on oil price. Generally the correlation between these two data is inverse as a decrease of interest rates would lead to increase in price. On the contrary, a decrease of interest rates in order to recover from a financial downturn would lead to a decrease in oil price which would suggest a positive correlation. An explanation of the reason why there is a negative correlation is that an expansionary policy causes a cost reduction of storing cost for commodities goods, driving up the oil price. On the other hand, a change of U.S. interest rate will have an impact on the pegged currencies to U.S. dollar or to the currency currencies which are traded against the American one: too expansionary policy in the U.S. may not be proper to foreign central banks influencing foreign economic growth and consequentially oil prices. Oil price speculation or massive change in oil fundamentals? One of the main issue related to oil price is whether increasing volatility and rise in prices during the last decade has reflected a massive change in oils fundamentals or if market speculators played an active role in massive price fluctuations. In particular it is necessary to understand if the oil price reached the high ever level in 2008 due to growing flow of money in oil derivatives or due to enormous change in underlying fundamentals, supply and demand. An increase from $28 per barrel in early 2002 to over $100 per barrel at the end of 2007, heading to the record $140 in 2008 and then falling below à ¢Ã¢â‚¬Å¡Ã‚ ¬40 by the end of 2008 is the result of the burst of an energy bubble or it the natural evolution of oil price during a worldwide financial crises? In other words, it needs to be investigated if the strong increase followed by the collapse in oil price is a cause or a result of the main worldwide financial crises. As analyzed in the first part of the dissertation, oils demand and supply during the period 2002 and 2008 changed significantly: emerging countries such as China and India drove oil demand while at the same time, oil suppliers reacted slowly and they tighten spare capacity. Those that support oil demand a

Split Sisters and Split Personalities of Goblin Market Essay -- Goblin

Split Sisters and Split Personalities of Goblin Market  Ã‚     Ã‚  Ã‚   "I have 50 different personalities, and still I’m lonely" (Amos). Perhaps everyone is truly composed of multiple personalities embodied within one whole. Whether these split personalities are actual or purely metaphorical, no one human being has a single sided mind, and a single sided position on everything. Within the brain many battles are raged between opposing sides of issues, between the personalities. "Goblin Market" is one of Christina Rosetti’s "sister" poems, a form in which she used sisters to "represent different aspects of the split personality that was caused by conflicting attitudes and mixed emotions towards love" (Bellas 66). The two opposing young sides of a single person’s brain are separated into two different beings, two sisters. During the poem, the two sisters, Laura and Lizzie, contrast and become contrasting opinions and factions on love, femininity, and sensuality, eventually maturing and reconciling their conflicting beliefs into a mutual ground. "Laura’s love of the fruit is insatiable" (Mayberry 90). Lizzie is a more Victorian image of love "cautious, timid, and tedious" (Mayberry 43). In the Victorian days respectable women were expected to be good Christian women. Rossetti is a demonstration of these expectations. In reference to the awkward moral at the end of the poem Martine Brownley says. "Undoubtedly that was the only way that the quiet devoted recluse could tolerate what she had procured in the poem. The woman who pasted pieces of paper over the more explicit lines in Swinburne’s poetry could never have faced the actual implications of the stunningly effective parable†¦ which somehow welled up from her unconscious self" ... ...look" for the first time in her life. The Victorian element of the 1800s has been brought down to a more reasonable level through Lizzie. The wild feminist in Laura has been tamed by the life threatening experience and the overpowering devotion of her sister.    Works Cited Amos, Tori. "Tori Amos in Conversation." Baktabak Recordings 1997. Bellas, Ralph A. Christina Rossetti . Illinois State University, Twayne Publishers Boston, 1977. Harrison, Anthongy H. Christina Rossetti in Context. University of NC Press, Chapel Hill and London: 1988. Mayberry, Katherine J. Christina Rossetti and the Poetry of Discovery. Louisiana State University Press, Baton Rouge and London. 1989. Brownley, Martine Watson, "Love and Sensuality in Christina Rossetti’s ‘Goblin Market." Essays in Literature 1979 Western Illinois University Vol. No. 2 Rpt in TCLC.