Learning Styles Essay

1. What I intend to do In this assignment I will aim to discuss the factors which can affect learning for a student. Incorporated in this I will discuss theories of ‘learning styles’, comparing and contrasting them and try to identify aspects which can impact upon my practice. I will analyse my own teaching style and that of others to see how the theories can be applied and also assess my own success in meeting the needs of the students. 1.1 Why? The information provided in this assignment will allow me a better understanding of the variety of ways a student can learn. This will impact on my future as it will allow me to become a more successful classroom practitioner and allow me to recognise and cater for a variety of styles in my teaching resulting in more enthused, able and satisfied students. 2. Definition of learning Before one can discuss concepts of learning and learning styles, an understanding of the term is necessary. Learning is defined by the Encarta dictionary as: 1. Acquiring of knowledge: the acquisition of knowledge or skill 2. Acquired knowledge: knowledge or skill gained through education 3. Change in knowledge: a relatively permanent change in, or acquisition of, knowledge, understanding, or behaviour Learning occurs throughout life as more and more information is acquired, definition two focuses on knowledge through education, this is obviously the factor which I will focus on during this assignment, however I felt the inclusion of the other definitions was important, the first links well to the second, and the third is important to understand to allow the implementation of the first two. The third definition highlights that not all learning comes in a school based environment and that learning occurs at all times in all different ways, in effect it highlights that learning can occur in many ‘styles’. 3. Factors affecting learning Learning is complex; it can be affected by numerous factors which can reduce the effectiveness of learning. Some of these factors can be controlled, others cannot, it is the job of the teacher to have control of as many aspects of the learning as possible to ensure students achieve. Maslow’s original Hierachy of needs incorporates the perceived basic needs of a learner and their motivation, of which most, if not all need to be met to allow learning to be successful Of the factors mentioned by Maslow, only some can be controlled by the teacher such as safety, stability etc but many are down to the child’s home life. The factors which a teacher can be in control of can be managed by providing a safe, warm teaching environment so that learners are comfortable; the teacher should build positive relationships with the learners to support them and enhance learning and also allow for working in groups within the class. A clear structure and procedure in the lesson will provide stability and rewarding positive acts will give the learner a sense of achievement and help to build a positive reputation, leading to personal growth. The factors which are beyond our control can arguably have a greater effect on the success of learning. Learning style theories The idea of learning styles or different approaches to learning ‘emphasizes the fact that individuals perceive and process information in very different ways’. The idea that students learn in different ways implies that how much an individual learns can be affected by teaching method, therefore intelligence needs to be recognised in a different way, instead of is this student intelligent, the question an educator should ask is how is this student intelligent. The concept of learning styles is ‘rooted in the classification of psychological types’ Basically, through research, it has been demonstrated that individuals learn in different ways due to upbringing, heredity and the environment, it has also been demonstrated that ‘different individuals have a tendency to both perceive and process information differently’ The different ways of doing so are generally  classified as: 1.Concrete and abstract perceivers–Concrete perceivers absorb information through direct experience, by doing, acting, sensing, and feeling. Abstract perceivers, however, take in information through analysis, observation, and thinking. 2.Active and reflective processors–Active processors make sense of an experience by immediately using the new information. Reflective processors make sense of an experience by reflecting on and thinking about it. Schooling generally focuses on active and reflective processors however concrete and abstract perceivers are becoming more and more catered for. Learning styles theories impact education through the curriculum, instruction and assessment. The curriculum must place emphasis on intuition, feeling, sensing, and imagination, in addition to the traditional skills of analysis, reason, and sequential problem solving. In the instruction, teachers should design their instruction methods to connect with all four learning styles, using various combinations of experience, reflection, conceptualization, and experimentation. Finally, in assessment teachers should employ a variety of assessment techniques, focusing on the development of â€Å"whole brain† capacity and each of the different learning styles (http://www.funderstanding.com/content/learning-styles) Learning theories have been grouped into five clusters: 4.1 Behaviourism learning theory Behaviourism is a view that operates on a principle of â€Å"stimulus-response.†, in other words all behaviour is in some way caused by an external stimulus and it is the association between the stimulus and response which leads to a change in behaviour. This theory can be explained without reference to consciousness or ones internal mental state. I have seen this theory in action through lesson observations, for example the Head of Science. The teacher has clear routines in the lesson, along with positive reinforcement, rewards system, praise and a firm but fair view on behaviour. The method works very well for the teacher in question as the classes are engaged, enthused and make progress in lesson. (http://www.learning-theories.com) 4.2 Cognitivism learning theory Cognitivism involves recall or recognition of key facts, it effectively views the mind as an information processor. It places emphasis of the role of prior knowledge and being able to convert information from short term memory to long term memory. This theory counteracts that of behaviourism by saying that the human mind is not pre-programmed to respond only to external stimuli and that it requires ‘active participation in order to learn’ The cognitivism theory views the brains learning as such: Information→Processing→Outcome I have observed this style in a humanities lesson on the Olympics, key ideas were constantly referred to and displayed on handouts, students were encouraged to link the information they were given to experiences they had had and link into different scenarios to allow the students to recognise and understand the key ideas of the lesson. This is probably the theory I use most, I try to engage students by getting them to use their own experiences and thoughts when discussing topics in science to allow better understanding and application. 4.3 Constructivism learning theory Constructivism uses the idea that all learners need to construct their knowledge from their previous knowledge and the new information presented to them. The learning also incorporates problem solving as the new information can conflict what they already knew, leading to a ‘solution’ being sought and found. Constructivism is subjective i.e. based on the learners opinion. Constructivism is a key area to focus on in the development of starter activities, if a learner uses previous knowledge then a starter must incorporate what they already know to allow them to build upon this and acquire new knowledge. In science, misconceptions are often found in a students prior knowledge, evidence provided in lesson, often in the form of experimental results can conflict previous knowledge, necessitating the need for the problem solving aspect of constructivism to allow the knowledge to be acquired. I have observed this theory in practice through the use of self assessment and peer assessment within the Science department. This allows students to give and receive feedback on their opinions allowing them to develop their individual knowledge. 4.4 Social learning theory This theory suggests that learning is most successful when dealt with in a social setting. The theory works on the principle that people can learn solely from observations. I have observed this in science lessons through the teacher demonstrating a practical to the students before they attempted the practical themselves, I have also seen it in group work where one student models an idea and others observe then copy to advance learning. 5. Stages of learning Learning is not an immediate process; learners typically will not immediately go from no knowledge to full understanding, usually a learner will advance through a series of learning stages. One theory is that there are four stages: 1.Unconscious Incompetence â€Å"I don’t know that I don’t know how to do this.† This is the stage of blissful ignorance before learning begins. 2. Conscious Incompetence â€Å"I know that I don’t know how to do this, yet.† This is the most difficult stage, where learning begins, and where the most judgments against self are formed. 3. Conscious Competence â€Å"I know that I know how to do this.† This stage of learning is easier than the second stage, but it is still uncomfortable and self-conscious. 4. Unconscious Competence â€Å"What, you say I did something well?† The final stage of learning a skill is when it has become a natural part of us; we don’t have to think about it. This is a simple model for learning, however it doesn’t always fit with how a student will learn in a classroom environment as other skills are asked of students such as application of knowledge. Another theory which does incorporate this is the learning hierarchy (Haring, Lovitt, Eaton, & Hansen,  1978) has four stages, these are: acquisition, fluency, generalization, and adaptation: 1.Acquisition: The student has begun to learn how to complete the target skill correctly but is not yet accurate or fluent in the skill. The goal in this phase is to improve accuracy 2.Fluency: The student is able to complete the target skill accurately but works slowly. The goal of this phase is to increase the student’s speed of responding (fluency). 3.Generalisation: The student is accurate and fluent in using the skill but cannot apply it to other suitable situations, the focus of this stage is to encourage the use of the skill in the widest possible range of settings and situations. 4.Adaptation: The student is accurate and fluent in using the skill and can use it in many situations or settings. The student still cannot adapt the skills to fit novel tasks-demands or situations. The focus of this stage is for the student to identify previously learned skills and adapt them to new situations. If a teacher can accurately identify which stage the learner is at then that teacher can select ideas that are more likely to be successful in meeting the students learning needs (Differentiation). The stages are also important to consider when introducing a new topic, especially one which is unlikely to be familiar to the learner. The lesson plan needs to be chunked to allow each learning stage to be met, a learner cannot be asked to apply knowledge before they have acquired it in the first place 6. What are learning styles? The learning styles movement in the UK began in 1982 with the launch of the Honey and Mumford questionnaire (to be discussed later).The basic idea of learning styles is that students learn in different ways. It is said that everyone has a preffered style to learn in and that this style can be tested for to give the teacher information on how best to support a students learning and accommodate them in the learning environment. (http://www.tes.co.uk/article.aspx?storycode=2153773) 6.1 David Kolb’s learning styles model and experiential learning theory (ELT) In 1984, Kolb published his learning styles model, it focussed on four distinct learning styles, however, Kolb’s model allows a learner to touch on all four categories in a cycle rather than sit in just one, however the  learner will have a preferred style of learning.. The four Kolb’s learning styles are as follows: 1.Diverging (feeling and watching – CE/RO) – These learners prefer to watch a scenario rather than be involved in it, gathering information and using imagination to solve problems. They are interested in people, tend to be imaginative and emotional, and tend to be strong in the arts. This type of learner prefers to work in groups and listen with an open mind; they also enjoy receiving personal feedback. 2.Converging (doing and thinking – AC/AE) – This type of learner is a problem solver; they use their learning to find solutions to practical problems. Convergers are more interested in a task where there is a single answer and respond well in this situation. Convergers like to experiment with new ideas and find practical uses for ideas and theories. Convergers tend to be relatively unemotional and would rather deal with things than people, in this sense they are opposite to Divergers. 3.Assimilating (watching and thinking – AC/RO) – This type of learner requires a clear explanation rather than an opportunity to practice it themselves. An assimilating learner seeks a concise and logical approach, favouring ideas and concepts over people. An assimilator likes to structure information into a logical format, as such they excel in information and scientific careers. An assimilator likes a formal learning situation, with readings, lectures, an opportunity to explore analytical models, and the time to think things through. 4.Accommodating (doing and feeling – CE/AE) – This type of learner enjoys practical learning which relies on intuition rather than logic. An accommodator tends not to do their own analysis but will rely on information from others. Accommodators are risk takers and work on a trial and error basis, they excel in team work and like to set targets and actively work to achieve them. These models, as stated before, are not necessarily distinct, i.e. it is still possible for an accommodator to work in a converger’s environment, but learning is likely to be less successful. Kolb also said that it is possible to change a learning style but it takes a great effort to do so. 6.2 Honey & Mumford In 1982, Honey and Mumford developed a model of learning styles using Kolb’s work as a basis. The model is a variation of Kolb’s using the terms  Activist, Reflector, Theorist and Pragmatist to represent each stage rather than Kolb’s terms. Below is a table defining the stages. Learning StyleCorresponding Kolb Learning StylePreferred Mode Of Learning Activist (Do)AccommodatingDoing things, carrying out activities, ‘act first before considering consequences’ Reflector (Review)DivergingCollect and analyse data, ‘stand back and observe’ Theorist (Conclude)AssimilatingThink in logical steps, create theories from information, ‘disciplined, aim to fit things into a rational order’ Pragmatist (Plan)ConvergingApplication of knowledge to a specific problem, ‘Keen to put theories and techniques into practice’ http://www.mftrou.com/honey-mumford.html http://www.businessballs.com/kolblearningstyles.htm Below is a brief description of the learner and a table displaying in which situation that learner will learn well and which situations the learner may not thrive in. 1. Activists- These learners are open minded and enthusiastic about new ideas, they enjoy doing an activity, especially in a new situation. Activists enjoy working in groups but like being in limelight Activists learn best when:Activists learn less when: Involved in new experiences, problems and opportunitiesListening to lectures or long explanations Working with others e.g. team work, role playReading, writing or thinking on their own Being thrown in the deep end with a difficult taskAbsorbing and understanding data Leading/chairing discussionsFollowing precise instruction to the letter http://www.excellencegateway.org.uk/media/ferl_and_aclearn/ferl/pages/news_events/events/2004/november/workshop_presentations/B10.doc 2. Reflectors- Reflectors like to stand back from a situation and view it from different perspectives. A reflector will gather data and analyse it before coming to a conclusion. Reflectors enjoy observing and listening to others. Reflectors learn best whenReflectors learn less when Observing individuals or groups at workActing as a leader or role playing in front of others Given opportunity to review what has happened and think about what they have learntDoing things with no time to prepare Produce analysis and reports without tight deadlinesBeing thrown in at the deep end Being rushed or worried by deadlines http://www.excellencegateway.org.uk/media/ferl_and_aclearn/ferl/pages/news_events/events/2004/november/workshop_presentations/B10.doc 3. Theorists- Integrate observations into theories, problems are worked through on a step by step basis, tend to be detached and analytical rather than emotive and subjective. Theorists learn best whenTheorists learn less when Given structured situations with clear purposeActivity is unstructured or poorly briefed Put in complex situations where they have to use their skills and knowledgeHave to partake in activities which involve emotion or feelings Given the chance to question or probe ideas behind thingsHave top do things without knowing the principles or concepts involved Offered ideas or concepts not necessarily immediately relevantFeel they are ‘out of tune’ with other participants http://www.excellencegateway.org.uk/media/ferl_and_aclearn/ferl/pages/news_events/events/2004/november/workshop_presentations/B10.doc 4. Pragmatists- These are keen to try things out, they enjoy working with concepts which can be applied to situations they encounter. Pragmatists tend to be impatient with long discussion and prefer to be practical. Pragmatists learn best whenPragmatists learn less when There is an obvious link between the topic and the jobThere is no obvious or immediate benefit that they can recognise Have the chance to try out techniques with feedback There is no practice or guidelines on how to do it They are shown techniques with obvious advantages e.g. saving timeThere is no apparent ‘payback’ or reward They are shown a model they can copy e.g. a film or a respected bossThe learning is all theory http://www.excellencegateway.org.uk/media/ferl_and_aclearn/ferl/pages/news_events/events/2004/november/workshop_presentations/B10.doc 6.3 VAK VAK is a multi-sensory approach to teaching and learning. It is split into three distinct groups: Learning styleDescription VisualSeeing and reading AuditoryListening and speaking KinaestheticTouching and doing Visual- This can be incorporated into a lesson using pictures, observation, handouts, demonstration, videos, flip-charts etc. Auditory- This can be incorporated into a lesson by the use of spoken word, sounds, noises etc. Kinaesthetic- This can be incorporated into lessons by the use of practical, hands on activities-touching, feeling, holding, doing, role play etc. According to VAK, most people will have a dominant style of learning; however it is possible for some people to have a relatively balanced mixture of the three styles. A person’s learning style is a reflection of their mix of intelligences. It is also a reflection of their brain type and dominance.

Bankruptcy Among Young People Because of Credit Card Essay

Consumer credit can be defined as a debt that someone incurs for the purpose of purchasing a good or service. Common forms of consumer credit include credit cards, store cards, motor (auto) finance, personal loans (installment loans), consumer lines of credit, retail loans (retail installment loans) and mortgages. The spread of credit card ownership and usage across developing Asia Pacific countries has been overwhelming. A review of literature on credit card reveals that most studies have been undertaken in developed country settings. Credit cards were first issued in the USA in the early twentieth century. Since then, they have become a major system for exchange of transactions (or payments) that stimulates household and personal spending even in many developing countries of the world (Watkins, 2000). In Malaysia, cards were first introduced in the mid-1970s. At the early stage, credit cards were only issued to professionals or those considered successful businesspersons by card issuing companies. By the end of 1970s, an estimated 20,000 cards were issued. During that time, owning a credit card was considered a symbol of prestige. However, with the passage of time, eligibility criteria for obtaining credit cards have been increasingly relaxed. As a result, the number of cardholders reached to about three million by the turn of the last century. One of the fastest ways to bankruptcy is the misuse of credit cards. One of the more common reasons that people end up filing for bankruptcy is due to too much credit card debt. Credit cards are so often too seductive because they offer the ability to buy what we want now. We can then pay it off later, using very small and affordable monthly payments. Credit cards offer a way for us to make attractive purchases that we might not be able to make otherwise. Suddenly, it seems as though we can afford anything we want. The low monthly payments seem reasonable and easy to fulfill. That is one of the biggest problems associated with credit cards. It is easy to forget about the high rate of interest that we are paying instead we consider the low minimum payments we make each month and count that our self is lucky. We can continue for years, making minimum payments each month and building up credit card debt. However, one day something may happen. We could have our hours cut at work, or maybe our minimum payment will be increased. We might have a costly hospital stay, or our home may be struck by a natural disaster not covered by our home insurance. Suddenly, our credit card payments do not seem as affordable as we once did. After looking at our situation, it dawns on us how much credit card debt that we have. The only way out of our financial mess may seem like bankruptcy. An article from New Straits Times Online dated 14 November 2011 has highlighted the issue of easy cash turns many into bankrupts. Easy cash here means credit card. Credit card is a familiar type of open-end credit. The term credit card is used to cover a variety of types of cards, some of which actually do not involve credit. In general, a credit card is a plastic card printed with an account number and identifying the holder as a person who has entered into revolving credit agreement with a lender. From the article it states that Malaysian youth are becoming increasingly reckless with spending, thanks in no small measure to the convenience offered by credit cards. An average of 41 Malaysians are declared bankrupt daily, with the majority failing to repay their car purchase loans. BANKRUPTCY STATISTICS BASED ON CREDIT CARD DEBTS IN MALAYSIA The Department of Insolvency Malaysia (MDL) had restructured 80,348 bankruptcy cases from 2005 to May 2010 categorized as following: 31,950 cases – Malay 26,805 cases – Chinese 7,661 cases – Indians 13,932 cases – Others Some of the cases involved in different type of loans that caused the bankruptcy: 19,380 cases for failing to settle hire purchase loans 9,464 cases for failing to settle personal loans 8,786 cases for failing to settle business loans 6,022 cases for failing to settle housing loans 4,417 cases for failing to settle credit card debts 4,291 cases for failing to settle corporate loans 3,726 stood as guarantors CAUSES OF BANKRUPTCY The proliferation of credit cardholders has brought an indiscriminate spending by users with many side effects. Many Malaysian consumers seem to display excessive buying behavior, commonly known as ‘‘compulsive buying.’’ Easy availability of credit and compulsive buying has led to many adverse consequences such as addiction to shopping and excessive debt. Another noteworthy feature of card users in Malaysia is that they use the card to grant loans for themselves. It is easier to obtain credit cards in Malaysia rather than applying for personal loans, which requires the applicant to comply with more formalities like providing guarantors or collaterals. It was reported that outstanding debts from credit card holders amounted to RM15.719 billion by the year March 2009 (RM or Ringgit Malaysia is the local currency, 3.40 RM was approximately equal to 1 USD at the time of study). By the year 2009 outstanding credit card debts accounted for 1.35 percent of the total loans outstanding or 11.41 percent of the total consumer credit (Bank Negara Malaysia, 2009). On a more serious note, 6.43 percent of the outstanding debts had to be converted to non-performing loans. An alarming increase in the number of credit card holders seeking bankruptcy proceedings over the years was also reported. Shopaholic is one of the causes of bankruptcy among young people because of credit card. On average, 41 are declared bankrupt every day, mostly due to credit card debts, while every weekend, about five million peoples throng the 300-odd shopping complexes in the country. These habits are among the shocking revelations on why Malaysian consumers cannot cope with the rising cost of living. Federation of Malaysian Consumers Associations (FOMCA) discovered that many of those declared bankrupt due to credit card debts were below 40 years old. Another cause of bankruptcy is poor financi al management skills. Article from New Straits Times states that 10 million of credit cards had been issued but only 30 per cent of card holders is able to meet the monthly repayments. From the article, Chief executive officer of FOMCA Datuk Paul Selvaraj said it is because of the convenience of credit cards that people seem to prefer using them rather than cash. He also said that credit card holders do not  feel the immediate pinch of emptying their wallets when they make a purchase. It was reported that those who used credit cards were more inclined to spend 17 per cent more compared with those who used cash. Besides that failing to repay credit card debts is also the cause of bankruptcy. This is because credit card interest rate for outstanding balance is very high. Banks require consumers to pay only the minimum which is 5% or RM50 (whichever higher) of total outstanding balance (debt). If they only make minimum payment, it takes about 2 years to clear all the outstanding balance providing that there is no new spending. On top of high interest rate, consumers are also subjected to finance charges if they do not make full payments every month. This means, if they make partial payment, minimum payment or do not make payment on or before the payment due date, finance charges will be imposed from the day the transaction is posted to the card account. The relationship between psychographic variables, attitude development and credit card usage by cardholders in Malaysia. HOW TO OVERCOME A total of 87,583 individuals were declared bankrupt up to October this year, with 4,651 or 5.1% of them due to unpaid credit card debts. In light of this, the government will be discussing with Bank Negara on finding a solution to the problem of high interest rates imposed on credit card users, resulting in many being unable to settle their outstanding balance. Deputy Minister in the Prime Minister’s Department Datuk Liew Vui Keong said a solution was necessary as the number of credit card users declared bankrupt was worrying with the majority of them being young people (The Sun Daily, 15 December 2010). One way to overcome credit card debt is consumers have to have full payments prior to due date. They will enjoy interest-free period for retail transactions for 20 days on retail transactions. Cash advance, balance transfer and installment payment plan programs are excluded from interest-free period. Consumers also subjected to late payment charges minimum of RM5 or 1% of total outstanding balance, whichever is higher, up to RM50 if they fail to make payments before due date. If you have problem  to settle your credit card debt, the best solutions is to cut the card and stop using it. Second way to overcome credit card debt is pay more than the minimum payment. Always pay more than the minimum amount that you owe. If you can afford to do it, double or triple the minimum payment. This will help you get rid of credit card debt more quickly. If you have multiple credit cards, you might want to concentrate the bulk of the money you have available to paying one off at a time. The credit card you should focus on first is the one with the highest annual percentage rate. Pay this card off and then move on to the next highest one and so forth. This not only gets rid of the worst credit card debt (i.e. the one with the highest interest rate), but it gives you a sense of accomplishment and peace of mind, knowing that you have one less payment to worry about. Third way to overcome credit card debt is treat a credit card like a debit card. The biggest fallacy of credit cards is that they are ‘additional money’ to be spent each month. The typical household sees the monthly credit card bill as just another bill to spend money paying off. Worse, many people see ‘responsible’ credit card use as paying the minimum or slightly more each month. Using a checkbook to balance your finances or free financial software such as Mint.com or paid software such as Quicken can help you balance finances and ensure there will be enough money each month to pay off the credit card bills. Every time you make a purchase with a credit card, treat it like a debit card and deduct that money spent out of checking or savings accounts. Software can do that automatically when linked to the accounts, but a checkbook or simple pen and paper works the same way. Next, set alerts to avoid missed or late payments. A missed or late credit card payment can put even the most responsible credit card user over the edge and into debt. Interest rates get raised and high fees will tack on finance charges to the bill. Set up free e-mail or text message alerts from your credit card issuer’s online account management site. If your credit card issuer does not offer online account access, consider finding a new credit card company. Many late fees and missed payments are due to using regular postal mail to keep up with bills and make payments. Online payments are time stamped and come with an e-mail record of statements and payments. Another way to overcome credit card debt is do not spend money that we do not have. This tried and true financial tip holds true for credit cards as well. Credit cards can be an excellent financial  tool to establish and build credit. They can also allow responsible users to earn rewards such as cash back or points. Credit cards also act as interest free loans in a pinch with grace periods ranging from 20-30 days for users who can pay the balance off when the bill comes due. Spending on a credit card should adjust according to one’s financial situation. Responsible credit card use starts with spending less than one has in their bank account month to month. Besides that you must try not to rack up your credit card bill. If you can avoid it, do not use your credit card at all, as this will just put you deeper into debt. Try to pay cash for what you need and eliminate the things that you want (even if only temporarily). The horrible thing about credit card debt is that it is so easy for your debt to increase. Write down a list of expenses is also a way to overcome credit debt. It is very beneficial to know exactly where your money is going each month. Money seems to disappear before you even get your hands on it. Writing down a list of where your money goes will get you thinking about certain areas where you can save money. You can change your money habits by taking the time to understand where it is going. When you look at your list (and you should include what you are paying in credit card debt), you will probably be motivated to do what you can to try to hold on to more of your money. Lastly, pay down your credit card debt before you put money in a savings account. Your credit card interest rate is exponentially higher than what you gain from a savings account at a bank. Get rid of the credit card debt first, otherwise it will keep growing. CONCLUSION In conclusion, those who want to avoid bankruptcy do their best to avoid credit card debt to begin with. Bankruptcy can damage your credit score and cause other financial problems. On top of that, the financial strain can begin to take its toll on your relationships. Avoiding bankruptcy requires careful financial planning. We should create a budget and track our spending. Live within our means so that we are not acquiring debt. Each month, pay off our credit cards bill. We can use credit cards as part of our financial spending plan but we need to be careful to avoid carrying a balance. Besides that, we must set aside money for emergencies. That way, if  unexpected expenses come up, we won’t be as devastating. Being debt free and having some savings built up and can go a long way toward helping us to stay away from bankruptcy and providing us with some of the cash flow we need. With careful financial planning, credit cards can be a helpful tool, rather than a path to bankrupt cy. Do not let something so useful become our downfall. The problem with credit card debt is that it is very easy to get into but hard to get out. (Some people associate it with a bad marriage, and it is really similar to it). To get into a credit card debt is even easier than any other debt, because the plastic is just there in out wallet all the time, as an easy solution, and we tend to use it as a â€Å"quick fix. Credit card debt reduction is although a different story, to get out of credit card debt you needs discipline and planning to reduce your outgoings and change your attitude towards your spending. Getting to a stage when you realize that you must eliminate your credit card debt before it gets out of control is kind of scary experience. When you realize that you need to find a solution because there is no other way out, and you cannot carry on piling up interest on your debt. You can start reduce credit card debt with preventing it from increasing and paying off the capital or getting a lower interest credit scheme, therefore reducing your total credit card debt (credit plus monthly interest). Other than following the step by step instructions of your credit card debt consolidation plan, there are more methods to eliminate credit card debt. You can always seek assistance either at your own credit card company or an independent credit card debt specialist. Your credit card company wants their money back, so most of the times they are ready to compromise, give you a lower APR or freeze the interest if you agree a credit card debt consolidation plan. You must remember if you are not confident enough to negotiate a deal with your credit card company, there are many companies who are willing to support you and also offer free credit card debt consolidation consultation. REFERENCES Books: 1. Vickie L. Bajtelsmit with Linda Rastelli, (2008), Personal Finance, Wiley Pathways. 2. Sarah Young Fisher and Susan Shelly, (2009), Personal Finance in Your 20s &30s, Alpha Books. 3. Curtis E. Arnold, (2008), How You Can Profit From Credit Cards, FT Press. Journals: 1. A study of financial awareness among youths, Joyce K.H. Nga, Lisa H.L. Yong and Rathakrishnan D. Sellappan. 2. Malaysian consumers’ credit card usage behavior, Zafar U. Ahmed, Ishak Ismail, M. Sadiq Sohail, Ibrahim Tabsh and Hasbalaila Alias. 3. The influence of image consciousness, materialism and compulsive spending on credit card usage intentions among youthJoyce, K.H. Nga, Lisa H.L. Yong and Rathakrishnan Sellappan. Web: 1. http://www.nst.com.my/top-news/easy-cash-turns-many-into-bankrupts-1.5518 2. http://thestar.com.my/news/story.asp?file=/2012/11/23/nation/12361423&sec=nation 3. http://voices.yahoo.com/credit-card-debt-one-cause-bankruptcy-7101354.html?cat=3 ARTICLE

Report on Fmcg Market Sructure and Market Share

PROJECT REPORT ON FMCG MARKET SRUCTURE AND MARKET SHARE What is FMCG? FMCG is an acronym for Fast Moving Consumer Goods, which refer to things that we buy from local supermarkets on daily basis, the things that are non-durable, sold quickly, at relatively low cost, have high turnover and are relatively cheaper. FMCG’s constitute a large part of consumers’ budget in all countries. The most common in thelist are baby foods, toilet soaps, detergents, shampoos, toothpaste, cosmetics, shaving products, shoe polish, refined cooking oil, packaged foodstuff, soft drinks, chocolate bar, tissue paper and other household accessories and extends to certain electronic goods and other non-durables such as glassware, bulbs, batteries, paper products and plastic goods, such as buckets etc. These items are meant for daily of frequent consumption and have a high return. FMCG are products that have a quick shelf turnover, at relatively low cost and don't require a lot of thought, time and financial investment to purchase. The margin of profit on every individual FMCG product is less but as they sell in large quantities so the cumulative profit on such products are high. Hence profit in FMCG goods always translates to number of goods sold. The main segments of FMCG sector are : ) Personal care, Oral Care, Hair Care, Skin Care, Personal Wash (cosmetics and toiletries (soaps), deodorants, perfumes, male grooming, feminine hygiene, paper product); 2) Household care (fabric wash laundry soaps, synthetic detergents, household cleaners, such as dish/utensil cleaners, floor cleaners, toilet cleaners, air fresheners, insecticides and mosquito repellents, metal polish and furniture polish); 3) Packaged food and health beverages (flour, tea, coffee, sugar, staples, cereals, dairy products, chocolates, soft drinks, juices, bottled water, snack food, chocolates a nd cakes) 4) Tobacco. India ; the FMCG Market: The Indian FMCG sector is an important contributor to the country's GDP. The Indian FMCG sector with a market size of US$14. 8 billion is the fourth largest sector in the economy and is responsible for 5% of the total factory employment in India. The FMCG industry also creates employment for 3 million people in downstream activities, much of which is disbursed in small towns and rural India. This FMCG industry has witnessed strong growth in the past decade. This has been due to liberalization, urbanization, increase in the disposable incomes and altered lifestyle. Furthermore, the FMCG boom increased due to the reduction in excise duties, packaging innovations etc. and unlike the perception that the FMCG sector is a producer of  luxury items targeted for the elite but in reality, the sector meets the every day needs of the masses. The lower-middle income group accounts for over 60% of the sector's sales. At present, urban India accounts for 66% of total FMCG consumption, with rural India accounting for the remaining 34%. The growing incline of rural and semi-urban folks for FMCG products will be mainly responsible for the growth in this sector, as manufacturers will have to deepen their concentration for higher sales volumes. Many of the global FMCG majors have been present in the country for many decades. But in the last ten years, many of the smaller rung Indian FMCG companies have gained in scale. As a result, the unorganized and regional players have witnessed erosion in the market share. Availability of key raw materials, cheaper labor costs and presence across the entire value chain gives India a competitive advantage. The FMCG market is set to double from USD 14. 7 billion in 2008-09 to USD 30 billion in 2012. FMCG sector will witness more than 60 per cent growth in rural and semi-urban India. The bottom line is that Indian market is changing rapidly and is showing unprecedented consumer business opportunity. History of FMCG in India: In India, companies like ITC, HLL, Colgate, Cadbury and Nestle have been a dominant force in the FMCG sector well supported by relatively less competition and high entry barriers (import duty was high). These companies were, therefore, able to charge a premium for their products. In this context, the margins were also on the higher side. With the gradual opening up of the economy over the last decade, FMCG companies have been forced to fight for a market share. In the process, margins have been compromised, more so in the last six years (FMCG sector witnessed decline in demand). The following are the main characteristics of FMCGs: †¢ From the customer’s perspective: 1. Frequent purchase 2. Low involvement (little or no effort to choose the item — products with strong brand loyalty are exceptions to this rule) . Low price †¢ From the companies perspective: 1. High volumes 2. Low contribution margins 3. Extensive distribution networks 4. High stock turnover Major FMCG companies in India: Hindustan Unilever Ltd. , ITC (Indian Tobacco Company), Nestle India Ltd. , GCMMF (AMUL), Dabur India, Asian Paints (India), Cadbury India, Britannia Industries, Procter & Gamble Hygiene and Health Care, Marico Industries, Nirma, Coca-Cola, Pepsi MARKET SHARE OF FMCG COMPANIES (BABY FOOD) IN INDIA FROM 2001 TO 2010 Bottom of Form In the above pie chart we see the total sales during the financial years from 2001 to 2010 of various FMCG Food Beverage companies in India . THE COMPARATIVE DATA OF % MARKET SHARE OF NESTLE INDIA LTD. WITH ALL OTHER COMPETITOR, DURING THE LAST 10 YEARS FROM 2001 TO 2010 (Above graph showing the FMCG Food Beverage – Baby Food companies percentage market share in the last 10 years from 2001to 2010) So we can see that in overall FMCG business Nestle India Ltd is distantly ahead of the rest of the companies as far as market share is concerned. MARKET SHARE IN THE YEAR 2010 Measurement of Market Structure: Herfindahl–Hirschman Index: Si is the market share of the ith firm Numbers-Equivalent of firms: Reciprocal of HHI FOOD BEVERGE COMPANIES (BABY FOOD)| MARKET SHARE IN 2010 (Si)| | Cadbury India Ltd. | 0. 185753| 0. 034| Cepham Milk Specialities Ltd. | 0| 0| Continental Milkose (India) Ltd. | 0. 012213| 1. 491| Glaxosmithkline Consumer Healthcare Ltd. | 0. 188628| 0. 036| Heinz India Pvt. Ltd. | 0| 0| Jagatjit Industries Ltd. | 0. 084911| 7. 209| Kaira District Co-Op. Milk Producers' Union Ltd. | 0. 028029| 7. 856| Nestle India Ltd. | 0. 75272| 0. 225| Raptakos, Brett & Co. Ltd. | 0. 025194| 6. 347| TOTAL =| 23. 198| Therefore, HHI = = 23. 198 Reciprocal of HHI = 1/23. 198 =0. 043 Priyanka please check the previous calculation, I am not getting the correct data. FMCG SALES GROWTH OF LAST 10 YEARS As per the sales figures received of the year 2001 to 2011, in the past 10 years from 2001 to 2010, after plotting the datas, we notice that the graph f or Nestle is steeply rising, where as for Cadbury and Glaxo, the graph rise is considerable, but for Jagatjit and Milkfood the graph rise is very minimal. Thus Nestle being the market leader enjoys the position of the market laeder and also the profit. FMCG SALES VOLUME GROWTH IN THE LAST 10 YEARS FROM 2001 TO 2010 (Graph showing the FMCG trend throughout the last 10 years. ) FUTURE OPPORTUNITIES India is a fast developing country with a huge population whose per capita income is growing rapidly and there is huge opportunity for the FMCG companies. The opportunities are as follows: * Increasing per capita income is driving FMCG growth in India * India’s consuming class is growing rapidly Changing consumption pattern: Per capita income of Indian customer is increasing and FMCG products are relatively elastic in nature hence the expected sale should increase. PER CAPITA INCOME (Rs) (Above graph showing the trend of Per Capita Income of Indians and datas are collected from a research made by Govt. of India). ) As shown in the above graph the Per Capita Income of an Indian increases gradually throughout the years, and if this trend continues, then in future Indian Population will have more purchase power and will purchase more FMCG products. % OF PAST POPULATION RISE AND FUTURE EXPECTATION Above graph shows the past population and expected future population rise, data are collected from the research made by Govt. of India). Here by the above graphs we can see that there is huge scope for FMCG products and since Nestle India Ltd. is the market leader in India hence it can gain the most out of it. SWOT ANALYSIS: Strength 1. Low operational costs 2. Established distribution networks in both urban and rural areas. 3. Presence of well-known brands in FMCG sector. Weaknesses 1. Lower scope of investing in technology and achieving economies of scale. . Low exports levels 3. Counterfeit Products. Opportunities 1. Untapped rural market 2. Rising income levels 3. Large domestic market-. 4. Export potential 5. High consumer goods spending. Threats 1. Removal of import restrictions. 2. Slowdown in rural demand. 3. Tax and regulatory structure. CONCLUSION Customers in India are also spending more in FMCG as their standard of living are growing. Though there was some downfall in sales and profit, in the beginning of this decade but after that considerable rise in both sales and profit, is seen. Many FMCG companies has started project, to directly reach the rural market. This may be considered as a revolutionary step since the urban market is reaching its saturation level and there is a huge scope exploring in the rural market. This will also be helpful not only increasing its market share but also fight competition. BIBLIOGRAPHY In order to make this project we have taken the help of the following websites & books: * www. wikipedia. com * www. oppapers. com * www. scribd. com Besides it, various books were also consulted to prepare the project report.

Corporate Finance Essay Example | Topics and Well Written Essays - 3500 words

Corporate Finance - Essay Example e impact on stock prices.(Frankfurter 2002 )Another school of thought contends that prices are negatively correlated with dividend payout levels.(Frankfurter 2002).The third view is that firm dividend policy is irrelevant in stock price valuation. (Frankfurter 2002.These views are best summed up as being based upon, the tax effect ( Litzenberger and Ramaswamy (1980),)Clientele effects explanations (Elton and Gruber, 1970), Agency theory explanations(Easterbrook 1984), Signaling models(John and Williams (1985), and psychological/sociological explanations ( Frankfurter and Lane 1992). Coming to the aspect of Dividend Policies, Capital structure decisions and taxation academic literature has similarly differed and presented varying views. The leading theory here is the MM theory discussed below based on which the paper explores the literature pertaining to the simultaneous effect of both the corporation tax and personal income taxes on the dividend policy and capital structure of a firm in theory. In this vein many other studies have also examined the temporal pattern of corporate dividend payout and dynamic dividend behavior based on varying tax codes.(MA Lasfer 1996). It has been seen often that there will be â€Å" structural shifts in the aggregate dividend payout and these shifts often coincide with tax law changes†(Wu 1996).Thus the empirical evidence on the effects of both corporation and personal income taxes on dividend payment adjustments and on capital structure decisions is accordingly reviewed hereafter. It has often been stated that companies set their dividend policies to minimize their tax liability and to maximize the after-tax return of their shareholders. (Wu 1996).It has also been stated that whenever a company is unable to deduct the advanced corporate tax from their tax liability it will resort to giving out low dividends.(Wu 1996 citing Brennan). The notion of the tax hypothesis states that the differential taxation of dividends and

Governance, Regulation and Ethics Essay Example | Topics and Well Written Essays - 1000 words

Governance, Regulation and Ethics - Essay Example Fox quickly gets used to rape, murder and follow no ethical principles. Finally, going up a career ladder turns into a destructive downfall of Bud Fox. A voice of clear mind and wisdom is echoed in his ears sometimes†¦this is a voice of his father, an ordinary airline mechanic. This film is often characterized as a symbolic embodiment of political and economic situation of those years. Gordon Gekko’s character depicted by Douglas is a collective image of moral degradation drowned in corruption of the majority of businessmen and politicians. It is generally accepted that greed is considered to be a perfect theme for discussion in filmmaking industry. This kind of discussion appeals to the inner world of the viewers and shows what ‘good’ is and what ‘evil’ is in the world. In 90s stock market made people insane. They would risk their reputations and lives for profits. Financial conditions of America perfectly depicted in the Wall Street movie predi cted financial collapse of stock market in some years. The director of the film Oliver Stone shows an ethical lesson to his viewers: an improper attention to the details of business in stock market may result in the market collapse. Authorities didn’t care much about the process of business doing they were focused on potential benefits and profits and neglected procedures of daily routine in the market of shares (Ross, 2005). Ethical issues are neglected by Bud Fox as well. His consciousness is concealed from moral or ethical considerations. He is interested in monetary profits only. On the example of the main characters’ behaviors (Gekko and Fox) the director shows that they didn’t have right to behave in such a way and neglect generally accepted moral and ethical norms and rules (Wall Street Movies Hit Big Screen, 2010). Corporate America has a dark side drowned in corruption and ethical neglect (Geisst 1999, p. 23; Jordan, 2003). The main characters are drive n by Machiavelli’s claim that the end justifies the means. This great ancient philosopher justified the actions of the authorities in the name of their reached goals. But Machiavelli’s claim if not misinterpreted should be followed by any ruler. It should be explained in the following way: the end justifies the means, i.e. there is no need to stop before obstacles in order to reach success. Thus moral degradation and ethical neglect of the main characters would be hardly justified by Machiavelli. If to consider law breach of main characters from the perspective of legal regulations, their behavior may be considered from criminal liability regulations assigned to corporations, such as The  Foreign Corrupt Practices Act of 1977  (FCPA) developed in USA and UK Bribery Act (2010). The former document deals with two main claims of the document such as accounting transparency requirements and a point concerning bribery  of  foreign officials (Differences between corp orate offences regulations). Starting from 2010 UK has updated these regulations and introduced stricter regulations for international companies or UK companies acting in the international arena. The UK Act extends the limits of criminal liability to senior officers of a company in case there are offences of regulatory or criminal nature (Differences between corporate offences regulations). Moreover, criminal liability applied for companies may be clarified by Companies Act 1967. In accordance with this Act, company may be responsible for financial, labor or

Term paper 2 Article Example | Topics and Well Written Essays - 1750 words

Term paper 2 - Article Example Introduction Nursing theory is essential to all nurses as they develop their knowledge through their extended studies and learn to evaluate the different cases they will encounter during their careers. Most notably, understanding ethics in nursing theory is also important as part of the evaluation process as concerns patients and their health. In a global society, technology and research knowledge are advancing at a rapid rate, and more so now than ever before, future nurses must engage in continual education and developing their theories of nursing. The term, ethical knowing, outlines the fundamental pattern of knowledge, theory and purpose in the business of nursing (Carper, 1978; Noureddine, 2001). Ethical Knowing It should be understood that while nursing goals and actions within the terms of ethical knowledge is evaluated within the framework of each medical case the nurse will encounter. While a simple solution might be viewed as obvious, in a further review of the circumstance s surrounding a case, it may be determined that another path of treatment would be far better for the patient rather than just the accepted book-learned course of treatment. In reviewing ethical knowing from a philosophical viewpoint and through terms of ontological and epistemological dimensions, the ontological dimension refers to ethical traits which nurses must possess – empathy and compassion. In the epistemological dimension, the moral validity of what nurses must be is to be truthful and maintain the confidentiality of the patient (Noureddine, 2001). Ethical theories encompass the deontological, utilitarian, right-based, intuitionist theories which are associated most often with ethics in nursing. Deontological, duty-based theories have four major principles: the personal liberty to act; doing no harm; action which improves the welfare of others; and justice in treating people equally and fair distribution of resources (Noureddine, 2001). Utilitarian theory is action-b ased with the outcome as the basis, which is also referred to as maximizing the good for everyone rather than addressing individuals. Right-based theories are more concerned with the individual as the center and protecting individual choice. Autonomy and self-determination are part of right-based theories. Intuitionist theories, on the other hand, put the elements of duties, rights and goals on the same level, and it is up to the nurse and her moral intuition to make the ethical decision for any particular situation (Noureddine, 2001). Yet, as nurses have discovered for themselves, occasional cases may show that two theoretical frameworks may apply, and determining the more salient resolution, becomes a dilemma for the nurse in the process of caregiving. Initially, nurses might question why there is such a thing as nursing theory and for those who are first encountering the concept of theory, the reaction is one of fear and trepidation (McEwen & Wills, 2010). The point for theory in nursing is that it educates nurses to think on a more evolved level which will assist them later as professional nurses in assessing individual cases. Theory can also be from outside of the nursing field when assisting in looking at and analyzing a case from all angles. Ultimately, theory is ‘guidance through interpretive assumptions, principles and propositions which help explain and

Political Liberalization in Burma Essay Example | Topics and Well Written Essays - 1500 words

Political Liberalization in Burma - Essay Example Burma, like many African countries, was ruled by the British for almost a century and inherited structures, and institutional set-up of the free market and parliamentary democracy but could not take advantage of this to advance its political and economic situation (Egreteau 470). This paper will study the deficiency of the military rule in Burma and try to make useful recommendations on how the government can improve the country’s political, economic and social situation through democratic governance. The study will also explore and identify means by which the international community could help the country come up with the most appropriate forms of assistance and interventions to sustain a stable democracy, though, there needs to be some effort in putting in place transitional governance to allow for external leveraging. Burma’s strengths as a country in supporting the building of social, economic, legal, and governmental institutions will also be discussed (Selth 15). A country that does not have a reliable economic structure, strong and tolerant civil institutions will usually impend transition to democratic governance and create room for anarchy as well as an autocratic rule. Burma has since 19901 been struggling to move out of a stubborn military regime to form a credible government and aim to attract international economic and humanitarian assistance into the country. Even with a successful attempt for regime change in 1990, the country did not manage to usher in a new age of pluralistic rule through democracy and empowerment of the civil society. This was because there have been decades of politically brutal and economically unfavorable military rule, which has left the civil society and the population in murky waters in terms of development (Brown 732).  

International and Comparative Human Resource Management Essay - 2

International and Comparative Human Resource Management - Essay Example Through the cluster analysis, Sparrow together with other fellow researchers was able to cluster the countries of the world into five distinctive cultural zones. The identified clusters were cultural Island 1, 2, and 3, Anglo-Saxon cluster, and Latin cluster. Cultural Island 1 cluster comprised of France, cultural Island 2 comprised of Korea, and cultural Island 3 comprised of Japan. The other two remaining clusters of Anglo-Saxon and Latin comprised of UK, Australia, Canada, USA, Germany and Italy for Anglo-Saxon cluster and Brazil, Argentina, and Mexico for Latin cluster. This academic paper will categorically look at distinguishing cultural characteristics of Korea and UK. The two selected countries fall under cultural Island 2 cluster and Anglo-Saxon cluster respectively. Culture of the United Kingdom The cultural classification of United Kingdom comprises of patterns of symbolism and human activity, some of the cultures which were practiced in the UK are; Language As in the case of other nations and states, the language of the UK is English. This language is spoken by close to 90% of the total residents. Some countries which form the framework of UK like Wales at times use their national Welsh language more so in schools (Calder, 2007 pp.21). Use of languages like Gaelic has also been popularized in countries like Scotland; however, English has remained the official language in the entire UK. Arts UK is known for arts in terms of literature where some of the renowned poets like William Shakespeare hail from this great country. The culture of literature was inherited from countries like England and Scotland. The earlier existing written literatures were drafted in languages like Celtic and Anglo-Saxon. Theatre Dating back to 1707, UK was able to inherit theatre culture from Scotland and England and they were able to create a theatre district called West End (Calder, 2007 pp.31). This district was found in West End of London and it was the home of known thea tre halls like Theatre Royal and Convent Garden. Music Use of patriotic songs like Rule, Britannia and the national anthem of God Save the Queen are some of the songs that are dominant in the UK. UK has many music composers and use of several genres like jigs, hornpipes, and dance songs were some of the customary components of the folk songs. Film was also one of the UK cultures where it had some of the most skilful films actors and producers like James Bond. Religion Protestant is the religion found in the UK; moreover, Anglican Christian is dominant in this country followed by other religions like Islam, Hinduism, Judaism, Buddhism, and Sikhism (Calder, 2007 pp.47). Culture of Korea Korea was divided into two countries North and South Korea; however, some of the distinguishing cultures of Korea are Traditional arts Traditional arts comprise of the traditional dance, painting, crafts, and ceramics, all these categories played an important role in the traditional arts. Dance Korea h ad two distinguish dancing styles which are folk and court dance. Some of the dances are jeongjaemu and ilmu dance which were performed in banquets and rituals respectively. Jeongjaemu dance was auxiliary distributed into instinctive dances such as jeongjae and dangak and the two styles were inherited from Asia and China. The common dance of Ilmu was also divided into munmu also called civil dance and mumu also known as military dance (John, 2002 pp.170). During the dancing festivals, traditional clothing called genja was worn, Genja clothing had several

The strategic analysis of Oil and Gas Company named as British Essay

The strategic analysis of Oil and Gas Company named as British Petroleum (BP) - Essay Example This report provides insights about the present and future marketing strategies that are designed by the company as a result of pressure from several environmental forces. In this regard, the paper is primarily divided into different sections. In each section, strategic performance of BP has been measured through general analytical techniques which include PESTEL, SWOT, BCG Matrix and Ansoff Grid. At the end, recommendation, suggestion and future strategic option for BP are mentioned with respect to the analysis discussed above. Strategic Analysis of British Petroleum Introduction British Petroleum is considered as one of the largest international oil and gas companies. It serves its customers by providing them energy for light and heat, fuel for transportation purpose, petrochemical products and retail services for day to day use. In business realm, BP is widely known for its active participation through the approach of vertical integration in all the areas of fuel industry except extraction and excavation of oil and refining distribution power. Lately, BP has participated in increasing options for renewable energy resources. The reasons is the wide spread phenomenon which says that at the end of this century, all the fuel reserves and deposits will be wiped out (Britsh Petroleum, n.d.). Operations of BP are spread in 80 different countries. Around 4 million barrels of crude oil are produced each year which make BP the market leader of its industry. Possessing the largest market share, BP is the first company which released the information that within the next twenty years, the future demands of energy is most likely to be increased by 50%. BP has also stated that 80% of this demand is expected to be met by fossil fuels (Britsh Petroleum, n.d.). The business model of BP is to create value across the entire value chain. The value chain starts from the process of exploration and ends at supplying fuel and energy related products to customers for everyday use. The objective of the company is to create value for supplies of energy and to shareholders in a responsible and safe way. They aim of the company is to be a safety leader, responsible corporate entity, world class operator and an excellent employer (BP Annual Report , 2011). The company operates two major busines s segments which include Refining and Marketing, and Production and Exploration. Through these business segments, company strives to focus on developing and producing required sources of energy and transforming these sources into products that can be useful to fulfill the needs of people. Projects of BP help in generating employment, tax revenues and investment in countries all over the world. The company is committed for demonstrating responsible behavior, building lasting relationship and meeting obligations. The head quarter of the company is located in London, U.K whereas the operations of BP are spread across US, Europe, Russia, Canada, Australasia, Asia, some parts of Africa and South America . Core Brands of BP The most renowned brands of BP include: Source: (BP Annual Report , 2011) Values of BP Values of BP are segmented into three broad categories: What BP does? Delivers energy and fuel to the world What BP stands for? BP states that the company is deeply concerned about h ow the energy and fuel are delivered to the world. What BP values? Safety Excellence Respect Teamwork Courage Mission Statement of BP The mission statement of BP states that: â€Å"Our function is to provide safe, efficient and environmentally responsible marine and shipping solutions for the BP group† The mission statement of BP signifies that the core functions of the organization are to provide efficient, safe

Quantitative and Academic Skills Essay Example | Topics and Well Written Essays - 1500 words

Quantitative and Academic Skills - Essay Example that are transferable and applicable to a current job/profession. In general, these skills are non-job specific skills which can be used in different occupations. By communicating the transferable skills effectively, one can enhance marketability and open themselves up to a larger sector of the job market. In very simple terms, transferable skills are skills which can be used in more than one setting. They can be â€Å"moved† or â€Å"transferred† from one setting to another. Transferable skills are not only gained in the workplace. They are also acquired by volunteering; by life experiences; by study or training or perhaps by being involved in an interest or hobby. In recent times however, rapid changes taking place in industry and the economy have dictated the need for a more adaptable and flexible workforce. These days, up-skilling and lifelong learning are the norm, and the ability to transfer this knowledge and these skills from one situation to another has become paramount. There is no doubt that much transferable skills development is already naturally taking place while in the schools and colleges. However, these tend to be the more â€Å"invisible† learning outcomes of academic life as transferable skills are still rarely explicitly taught or assessed (Curry, et al. 2003). The transferable skills that employers identify tend to be those that support organizational performance. They may be identified as follows: Interpersonal skills; Communication skills; Self-management skills; Intellectual skills. It is easy to identify occupationally relevant skills acquired through training and education but much more difficult to pinpoint transferable skills. For example, if we examine the Law Discipline, how law schools can assist their students to develop such skills as communication, problem solving, autonomy, teamwork, information technology, numeracy, and general intellectual skills, and to be able to present their achievements to

The Strong Form of Efficient Market Hypothesis Essay

The Strong Form of Efficient Market Hypothesis - Essay Example This evaluation may seem too obvious to day, but prior to the efficient market hypothesis in the 1900s, it was not so self-evident. In recent times however, the Efficient Market Hypothesis is subject to critical re-examination and trial in the paradigms of financial market research (Russel and Torbey, 2001:27). Primary evidence shows that the initial confidence of the concept of Efficient Market Hypothesis is misplaced. According to observations, Efficient Market Hypothesis based financial equilibrium models do not depict the actual trading operations in the world. Indeed, numerous inconsistent results and anomalies require refinement of the current paradigms. This paper presents a critical analysis on the validity of Efficient Market Hypothesis strong form based on existing evidence. Within the realms of finance, Efficient Market Hypothesis reiterates that there is efficient information in financial markets, that assets traded in the financial markets such as bonds, property, or sto cks, reflect all the known and relevant information. In this regard therefore, there is no bias since the information present reflects the collective beliefs of involved investors concerning future expectations and prospects. The Effective Market Hypothesis states that in a financial market with effective information, it is impossible to outperform that market using known information, with the exception of lack (Palan, 2011:24). According to the hypothesis, news or information refers to anything capable of affecting the current market prices.

East of Eden Essay Example for Free

East of Eden Essay In John Steinbeck’s novel, East of Eden, the deprivation of a sound conscience is a theme that is associated with Cathy Ames, and afflicts the people around her. The author uses foreshadowing to portray the future of Cathy and her multiple victims. By doing so, the author builds onto the characterization of Cathy, revealing how truly malevolent she is. From birth, Cathy is foreshadowed to develop into something monstrous. The author claims that he â€Å"believe(s) there are monsters born in the world to human parents† (72). Even though she has not been physically presented to the reader yet, Cathy is about to be portrayed as the main evil in this novel. This prelude to Cathy’s characterization foreshadows the evil that will come with her presence. Cathy’s reign of terror begins when she burns her own house down, and â€Å"the frightened talk ran through the town that the whole Ames family had burned† (87). This action corresponds to the foreshadowing presented by the author’s description of monsters being born to human parents. By committing such an inhumane act, the reader gains the knowledge that Cathy has no conscience. Cathy’s tirade did not end there, and after giving birth to Adam, and possibly Charles’, babies and trying to leave him, â€Å"she shot at him. The heavy slug struck him in the shoulder and flattened and tore out a piece of his shoulder blade† (202). Cathy’s ability to kill the father of her children without even considering the severity of her actions shows how much of a monster Cathy truly is. The actions performed by Cathy at such an early stage in the story only foreshadows to the reader that she has not yet ended her path of destruction. Cathy’s inner evil is revealed at birth, and, at a young age, she discovers that she holds powers that can be used to manipulate others. From birth Cathy is foreshadowed to be pure evil, and she â€Å"learned when she was very young that sexuality with all its attendant yearnings and pains, jealousies and taboos, is the most disturbing impulse humans have† (75). It is disturbing that Cathy realizes her sexual capabilities at such a young age. The way Cathy’s thought process is presented, it can be seen that Cathy plans to abuse her powers, foreshadowing conflicts to arise in the future. It did not take long for Cathy to utilize her powers, and â€Å"at ten Cathy knew something of the power of the sex impulse and began coldly to experiment with it† (75). Cathy’s ‘experimentation’ with sexual power at such a young age helps further depict her as a malevolent being with no conscience. The fact that she begins abbling in sexual activities, at an age where most don’t even know what sex is, foreshadows that there can only be trouble to come from involvement with Cathy. Years pass and, as foreshadowed, Cathy becomes a major contributor to her local brothel. When speaking of her regular customers with the brothel’s owner, Faye, Cathy tells her to â€Å"look at the heel marks on their groins†¦ I’ve got the sweetest set of razors all in a case† (236). Cathy has been secretly sodomizing and extorting extra money from her regulars, showing she is not content with the amount of control she already possesses. Her actions foreshadow that Cathy’s search for power is never ending, foreshadowing she will continue her malicious acts until someone is capable of stopping her. At birth Cathy is depicted to be monstrous, which is proven true by the actions she displays while growing as a child. The realization of the many powers she possesses are developed and abused by Cathy, showing she disregards all others well being in her search for total control. Such actions can only be performed by those who have no sound conscience, and have no fear of the consequences posed by society.

The Importance Of A Cardiovascular System Physical Education Essay

The Importance Of A Cardiovascular System Physical Education Essay The heart is the powerhouse of the cardiovascular system. It pumps the blood throughout the body; it is a double pump because it pumps blood in two different directions. The main parts of the hearts are the vena cava, the pulmonary trunk, the pulmonary arteries, pulmonary veins, the left and right atrium, the left and right ventricle, the septum, the chordate tendineae and the aorta. The heart is shaped kind of like a cone. It is located behind the protective rib cage. The heart is made of cardiac muscle which means it can work constantly without getting tired or needing a break. Your heart is so powerful that in just one hour, it can produce enough energy to life nearly a tonne of weight a yard above the ground and beats approximately 30,000,000 to 40,000,000 times a year. Blood enters the heart through the vena cava. The inferior vena cava brings in blood from the body and the superior vena cava brings in blood from the head. From the vena cava, blood moves into the right atrium which then sends the blood into the right ventricle through the tricuspid valve. The right ventricle then sends blood through pulmonary the pulmonary semi lunar valve and into the pulmonary trunk and then into the pulmonary arteries which take the blood to the lungs. Blood must travel to the lungs to gather oxygen. The pulmonary veins carry the oxygen rich blood back to the heart and into the left atrium. The blood is then sent to the left ventricle and then to the aorta where it is pumped into the aorta and to the rest of the body. The heart does not receive oxygen from the blood that runs through it; it receives blood from coronary arteries. When a coronary artery is blocked, it causes a lack of oxygen to the heart and the heart will die. However, a blockage in a coronary artery does not always cause a heart attack; it can also cause angina. Angina causes chest pain and pain to the left arm and shoulder. If an individual experiences these symptoms, they should see a physician as soon as possible as surgery may be needed to clear the blockage. Heart rate is how many times your heart beats per minute. Heart rate is determined by how hard the heart has to work to move blood through the body; the harder the heart has to work, the higher the heart rate. Heart rate is lowest at rest and highest when stressed. To check your heart rate, find your pulse. You can find your pulse in your wrist (radial artery), neck (carotid artery), back of knee (Popliteal artery), inside of elbow (brachial artery), and in the groin (femoral artery). The wrist and neck are the most common places to find your pulse. Once you have found your pulse, count how many times your heart beats for fifteen seconds then multiply that number by four. This number represents how many times your heart beats per minute. Average resting heart rate is usually between seventy and eighty beats per minute unless you are Lance Armstrong; he was known to have a resting heart rate of thirty-two to thirty-four beats per minute. Even though the Ancient Greeks believed that blood vessels carried air, vessels carry blood. You have so many blood vessels in your body that one square inch of skin contains three yards of blood vessels, and if all the blood vessels of the body were laid out end to end they could go around the equator at least two and a half times. Oxygenated blood travels through arteries. Artery walls have three layers; the first layer is squamous epithelium called tunica intima. The middle layer is the thickest of the three layers and is made up of smooth muscle that can contract to regulate blood pressure and flow; it is called tunica media. The outer layer of artery walls is made of fibrous connective tissue close to the middle layer but is loose connective tissue farther from the middle layer. The outer layer is known as tunica adventitia. Arteries branch into smaller arterioles. Arterioles are arteries that are barely visible to the naked eye. They are under 0.5mm in diameter. Arterioles branch into capillaries which are extremely small. Capillary walls are only one cell thick; in fact, capillaries are so small that it takes ten of them to make up the width of one human hair. Even though capillaries are very small, they form vast networks. Capillaries are so important because Oxygen and nutrients like glucose are exchanged through them and to the body. Veins take blood back to the heart. First, venules, small veins, take blood from capillaries and into a vein. The structure of vein walls is quite similar but vein walls are thinner. Because most veins have to travel upwards to reach the heart, they have to fight gravity to get the blood back up there so veins come equipped with valves which keep blood from flowing downwards. Veins that carry blood from the head do not have valves because blood coming from the head does not have to fight the force of gravity. If valves dont close properly it can cause major problems; this is called venous reflux disease. If the veins dont close, deoxygenated blood cant get back to the heart. This causes severe tissue damage. Symptoms include aching, burning, swelling, itching, discolouration and ulcers. There are approximately five litres of blood in the human body and it is the glue that holds the cardiovascular system together; without it there would be no need for a heart of blood vessels. Blood carries oxygen, fights infection and stops bleeding and only two parts of the body can survive without blood: the lens and cornea of the eye. Blood is made up of three parts: red blood cells, white blood cells and platelets. Red blood cells are made in the bone marrow and there are approximately 5,000,000 red blood cells in just one drop of blood. Red blood cells carry oxygen and carbon dioxide throughout the body. Red blood cells that carry oxygen are red and red blood cells that carry carbon dioxide are purple. They are shaped like concave disks. Sometimes the body does not have enough red blood cells and this causes anemia. Anemia is usually caused by a lack of iron. Symptoms include lack of energy and a pale skin colour. White blood cells also originate from the bone marrow. White blood cells are translucent and have a nucleus. White blood cells use proteins and enzymes to fight infections. There are five types of white blood cells: basophils, eosinophils, neutrophils, lymphocytes, monocytes. Though most white blood cells only live for a short time, some live for months or even years. Platelets are tiny cell fragments that are born in the bone marrow with red and white blood cells. Platelets aid in clotting so when a blood vessel is damaged, platelets come to the rescue and seal the leak. Sometimes, platelets dont do their job and cause hemophilia. What that means is clotting does not occur so the slightest bump can cause bleeding to joints. This can cause nerve damage and muscular atrophy. Though strokes affect the brain, they are really a problem with the circulatory system. They are caused when platelets do their job a little too well and cause a blockage to an artery leading to the head (usually the carotid artery). If an artery leading to the head is blocked, the brain cannot receive oxygen and this causes a portion of the brain to die. Individuals suffering from a stroke usually have early warning signs like numbness, blindness or slurred speech. Those warning signs usually exist even after a stroke and a stroke can even cause paralysis but these effects are not permanent. After a stroke, the individual can usually be rehabilitated and the damaged portion of the brain can again become functional but the person may never be the same again. A common problem with the circulatory system is hypertension. Hypertension is better known has high blood pressure. Though hypertension is usually caused by smoking, lack of exercise, obesity, or diabetes, it can also be hereditary. A sphygmomanometer-better known as a blood pressure cuff- measures blood pressure-two pressures, actually. The blood pressure cuff measures systolic pressure and diastolic pressure. Systolic pressure is high when the ventricles have contracted and diastolic is low when the ventricles have relaxed. If your diastolic pressure is greater than ninety or systolic pressure is greater than one-hundred-forty, you have high blood pressure. High blood pressure is often called a silent killer which means most people arent aware they have it until they have a heart attack of stroke. Medications and life style changes can help control blood pressure but the best way to control it is to keep a healthy diet (low in salt), exercise regularly and have your blood pressure checked on a regular basis. Arrhythmia is a heart condition. It is basically just an irregular heartbeat. Common symptoms are heart palpitations or pounding in the chest; that means your heart is beating irregularly fast. Other symptoms include light headedness, fainting, shortness of breath and fatigue; these are symptoms of your heart beating irregularly slow. If your heart is beating too slowly, your brain does not receive enough oxygen and neither does the rest of your body. Sometimes, surgeries can be done to get the heart to beat regularly but they arent always successful. More common treatments include medications and life style changes. The very best thing you can do for your cardiovascular system is exercise regularly and be sure to have a healthy diet. This will help to prevent disorders in the cardiovascular system but does not always keep them from occurring. Though many things can go wrong with the cardiovascular system, worse things would happen without it and all life on earth as we know it would end. Blood goes on a journey so spectacular that none of us can experience it.

General Components of an EHR System

General Components of an EHR System Electronic health records and presents the advantages and benefits that will provide for hospitals and health institutions. Doctors, physicians, and nursing become an important factor of the EHR; Barbara A. Gabriel did a research to see whether electronic medical records made the doctors and the patient outcome better. Also Jeffrey Linder, an internist and assistant professor of medicine at Harvard Medical School asked these questions: Does having an EMR really help you? Are patients more likely to get the tests they need, timely diagnoses, and proper treatments? Do you code more accurately now that your EMR is a part of your daily work flow? Does this result in higher reimbursements? And for Doctors he asked in brief Are you a better doctor both clinically and operationally with an EMR than you were without one?These questions were asked by Jeffrey to improve his study that was about the relationship between electronic medical record usage and quality care. A recognized supporter for electronic medical record implementation, he got the impression that made him strongly sure the answer to all these questions would be a resounding yes. 1.1 Definition of EHR: EHR stand for Electronic Health Record according to the policy journal of health sphere. It accumulates patient health files in a computer database more willingly than with physical paper. The data that is accumulated in the computer is producing by several users in any care delivery institutions. The data contains patient demographics, past health history, diseases, progress notes, very important signs, vaccinations, laboratory data and radiology repots. One of the elements of the Electronic Health Record is that it can generate a complete record of a clinical patient user consisting of quality management, outcomes reporting, and evidence-based decision. It is essential to state that an EHR is developed and maintained within organizations, like hospitals, integrated delivery network, clinics, or medical doctor offices. History of EHRs: In the fifth century B.C the earliest health record was produced by Hippocrates. He put two main objectives: A medical record should accurately reflect the course of disease. A medical record should indicate the probable cause of diseases These objectives are still proper, but the latest technology that identified as electronic medical record adds functionality, such as interactive flow sheets, interactive alerts to clinicians, and every feature that can not be made with manual system. In 1960s: a problem-oriented medical record was planned by Dr. Lawrence weed which is a kind of EHRs. His aim was to provide better health care by integrated the medical data of patient from special doctors. According to his idea, in 1970s the first Electronic Medical Record system established at the Vermont University. Its structure was uncomplicated, as it worked with touch-screen technology offered at the period to record procedures and various kind of pharmaceuticals used throughout those procedures. In 1967: a premature Electronic Medical Record system was implemented and applied at the Latter Day Saints Hospital in Utah, this project was developed by (HELP) the Health Evaluation through Logical Processing. In 1968: the Multiphasic Health Testing System (MHTS) and Computer-Stored Ambulatory Record (COSTAR) were produced Until 1973: the MHTS was applied at Kaiser Permanente in San Francisco Until 1980s: the COSTAR was applied at Massachusetts General Hospital in Boston In 1973: the Regenstrief Electronic Medical Record program was applying in Indiana, and is yet in progress today. 2.2 Development: In 1969: the initial main shift of manage patient information was completed with the Problem-Oriented Medical Record, making use of the so-called SOAP structure that included knowledge about the topic, the health goals, evaluation and a plan for the patient. 2.3 Technology: In that time while a large amount of medical offices continue to accumulate patient data on paper using manual system in huge Chart Libraries where the system was used the alphabetical order, and some technological developments have made by medical imaging. The LanVision system catalogs logical images that have the ability to move without difficulty from one office to another on the system. The most important components of Electronic Medical Record applied in hospitals contain patient billing, pathology, radiology, admission, laboratory, scheduling, discharge and transfer, intensive care and Emergency Room units, pharmacology records, and the master Patient Index (MPI). 2.4 Governments Role: The federal government decides to set a time limit for computerized patient record system for 1999, but that time limit was neglected when groups disagreed with computerization on patient-privacy grounds. The group also mentioned the inability of programs to integrate images, texts and numbers, but all of these factors had definitely incorporated by latest computer programs. Benefits of EMR: Electronic Medical Record systems are much more fitting, important, and efficient than manual medical records, says the Mayo Clinic. Several Doctors have the ability to update patient record at the same time. Furthermore, Electronic Medical Record does not need huge capacity of space and manual work to record and accumulate data. Organization The most important benefit of EMR is the way that a patients records can be managed and arranged. Paper records or files can simply be misplaced in a file room at the clinic, but an electronic medical record is accumulated on a network that is available throughout the service. Also IT professional are searching for the best way that connects the specialists with a network that give them the ability to treat the patient that are sent from another city. 2- Access Physicians can access quickly to patient file using electronic medical record system. In each of the patients room and practice rooms there are computers that are provided with the facilities that are prepared with this technology. The patients record can be log on from any computers to update conditions, medications and procedures that have been performed on the patient. 3- Decision Support Improved health decisions can be prepared for the patient, when his EMR is accessible by more than one physician. Repeatedly a patient is sent from physician to another when health problem appear to be dangerous or need to be diagnosed. These physicians may not have the ability to communicate or transmit the patients medical records to every facility. In this case, the patient can be subjected to repetitive or unwarranted actions because of the lack of transmission. 4- Standardization Electronic medical record system will also provide better standardization once it takes place to keeping patient records throughout the health care system. Several medical services apply various terminologies for the similar procedures. Other services apply structures that are totally dissimilar from another facilitys. Electronic medical record system will make it easier for physicians and nurses to get the information they want for every patient by providing a standard way of filling out data on patients file. 5- Patients A few Electronic medical record systems give the Patients the ability to log on their test results and other vital information from their health record through a protected site on the internet. This help patients better understand their health-care choice. Also the patients with restricted access to their personal Electronic medical record systems will be better notified and can be feasible with the decision that they require to generate. Key Components of Electronic Health Records Nearly all the commercial Electronic Health record system are made to merge data from the huge ancillary services, such as radiology, laboratory, and pharmacy with diverse health care components (for example medication administration records [MAR], nursing plans, and physician orders). The Electronic Health record possibly will bring in information from the ancillary system throughout a tradition interface or may provide interface for clinicians in order to log on the silo system through a portal. Administrative System Components The main components of electronic health record are registration, admissions, discharge, and transfer (RADT) data. These data contain essential information for correct patient classification and evaluation, also it include name, demographics, next to skin, employer information, patient disposition, chief complaint, etc. the section of registration in electronic health record system has a unique patient identifier which generally consisting of numeric or alphanumeric order that is unidentifiable external the company or institution in which it serve. The medical data of the patient will be collected for use in medical analysis and research while use the RADT. All medical observations, tests, procedures, criticisms, assessments, and diagnosis to patient will be linked by the patient ID because it is the core of the electronic health record. The ID is sometimes known as medical record number or master patient index (MPI). Nowadays in computerized information systems the master patient index enterprise has applied extensively in the organizations or institutions, called enterprise-wide master patient indices. Laboratory System Components Laboratory systems are interfaced to electronic health record systems which commonly are independent systems. Also there are (LIS) that stands for laboratory information system that are applied as centers or hubs to combined orders, schedules, billing, results from laboratory tools and other administrative data. Rarely laboratory information is integrated completely with the electronic health record. Lots of technologies and analyzers are applied in the diagnostic laboratory procedure when laboratory information system is prepared by the similar vendor as the electronic health record which is not simply integrated with electronic health record, such as the Cerner laboratory information system interface with more than 400 various laboratory tools. Cerner, a very important vendor of both systems the (laboratory information system) (electronic health record system), stated that 60 percent of laboratory information system installations were not included with electronic health record sys tem, and electronic health record system are implemented in federal form, which lets the user to log on the laboratory information system from a link within the electronic health record system interface. 6.3 Record keeping and mobility Electronic health record systems gain a unique trait which is the benefit of being capable to connect to various EHR systems. Patients are shopping for their procedures, in the recent global medical environment. Also patients can easily check in their files whether they have been admitted to such a health center or if they contain any kind of allergies since they have been admitted before. Other Advantages of Electronic Medical Records Software Chart Room. By converting a paper chart digital, a procedure can change the physical place of a chart room into workplaces, or extra rooms for exams, procedures, imaging equipment, labs, or other income generating spaces. Managing Paper. A lot of procedures waste numerous hours of workers time searching for, moving, and organizing paper charts. By computerizing the health record, this procedure is rationalized and costs are eliminated. Other cost savings are achieved by the elimination of the paper, printers, toner, and other physical costs of the paper world. Archived Records. Health practices are needed to remain patients health record for 7 years in nearly all countries. Accumulated an inactive patients chart offsite is a shared procedures. This cost is eliminated by accumulating the reports electronically. There are more advantages of an entire EHR, which both Chart Logic EMR and Chart Logic iAchieve electronic medical record consist of: Best Practices. By integrated a model based health office software; a medical procedures may ensure that all providers are achieving the needed goals of documentation and process. Increased Reimbursement. The EM coding tool can also indicate methods to properly up-code your document to a higher level, rising reimbursement. Efficient Charting. Using templates lets the physician to finish documentation rapidly. By tinplating shared words or phrases, the documentation is quick, reliable, correct, and complete. Cost and return on investment It is not easy to measure the return of investment (ROI) of information technology systems for any commerce. Nearly all research has been alert on how to calculate the return of investment for medical information technology systems such as electronic health record systems. The cost of implementing the EHRs will differ considerably; depending on what systems are now in place and what is being implemented. Fundamentally, in order to smooth integration and make customer commitment the vendors add the electronic health record capabilities at a favorable rate. However, there are installations that can be very expensive, e.g. Across the whole Kaiser Permanente network the roll out of an Electronic Medical Record was reported to cost over $1 billion. A new American Hospital Association analysis and survey noticed that the median yearly funds investment on information technology was greater that $700,000 and stand for 15 percent of all fund expenses. And above $1.7 million were the Operating expenses, or 2 percent of all operating expenses. Barriers to using EMR Technical Barriers It is expensive to implement an Electronic Medical Record system in a physicians office, mainly for minor practices. Moreover, install such a system in minor hospital institutions require external industrial support. Cultural Barriers According to For the Record Magazine the patients and doctors could feel unsafe risking patient MRs to possible electronic theft. Furthermore, an Electronic Medical Record will extensively change a physicians flow and potentially decrease the quality of service the doctor provides by giving him more patients, however, before physicians expected a specific amount of work flow, because they were spending time filling out paperwork. Significance According to Robert H Miller and Ida Sim of the Policy Journal of health Sphere In 2004 just 13 percent of physicians stated that using an Electronic Medical Record and 32 percent said they would consider as using an electronic filing system. EHRs keep your health information safe and private: You can choose and decide who gets to see your information: EHRs are locked. Nobody can access your account except you because there is a special password that will keep your health information private. EHRs have many security settings. The only ones that can access to your information and can see them your health provider, and the office staff can only see your name, address and birth date. Whether or not your health care provider uses EHRs, you sign a consent form if you want to share your information. Ask your doctor for a copy of your consent and explanation of what it means Private notes can be made in EHRs that only your health care provider can view. The patient can ask his doctor to see his information and tell him dont let anyone else see them and keep them in secure that only you can read. Electronic Software People go to hospitals to better their state; they rely on hospitals and physicians to practice the most advanced standards. The staff that works at the hospital faces many challenges at the day. They need highly efficient software and instrument to work properly and to finish their jobs requirements. Electronic software helps them meet the demands of the hospitals setting. In order to make sure that the health practice takes care of its operations in a prepared and well-coordinated manner Electronic Medical Record (EMR) Software is essential. The cost is around $850 dollars for setup and about $2500 for annual maintenance but is worth it for the reason that they save time and run the operations using the best defense mechanisms against liabilities electronic medical record software is used to manage and maintain EMR systems, patient or insurance billing, patient information management, multi-provider scheduling, electronic faxing, instructions and lab management, document management , and custom report templates. And an example of that software is a Visionary Dream EHRs Dream EHR Workflow When converting from a paper-based organization to a nearly paperless organization planning, preparation, training and a person within the office to make easy the change is an essential. A process that relies on an electronic health record, the visual signs are on the desktop computer or tablet PC screen rather than placed on the wall or taking up space in the records room. Shifting from a paper-based practice to an electronic health record provides the process with the opportunity to assess its workflow for an electronic environment. Several administrative and operational steps may be considerably simplified. The workflow steps in an electronic health record can be decreased significantly. The workflow in the health office has two main categories: administrative and clinical. Lets have a look at some administrative and clinical workflow procedures so you can evaluate how the work flows in a paper-based environment and what that similar workflow procedure looks like in an electronic environment. Paper-based Environment Electronic-based Environment Patient comes, signs in Patient comes and enters new data into electronic health record desktop Patients name be seen Administrative employee is gave notice that patient has came and patients MR are got over from the procedure management scheduler and prepared for the days appointments. Receptionist confirm for scheduled appointment Receptionist greets patient, checks updates and sends record electronically to nurses in-box. Receptionist asks for updated personal and insurance information Patients record is into nurses in-box. Patient returns data form with updates Nurse calls patient into examination room, release patient records, takes and check in family history, medications, vitals, presenting symptoms, and makes a face sheet on the Tablet PC. Medical records clerk drags chart and insert updated data. Once done, nurse sends MR electronically into physicians in-box. Clerk gives chart to nurse Patients file is in physicians in-box. The doctor can look at this file before to entering the examination room. Chart is located in nurses review stack Physician enters the examination room and visits with patient. Nurse checks chart and calls patient Nurse captures crucial signs and files show symptoms on face sheet. Nurse places medical chart out of examination room door. Doctor looks into medical chart on door, knows that patient is waiting and checks information on face sheet. physician enters and visits with patient Features and Software Screens Point-and-Click Chart Entry Rapidly capture and produce chart notes with pre-defined medical templates. It presents hundreds of specialty templates to lessen the operation time. Check chart notes, allergies, medications, procedures, diagnoses and further in one simple to navigate screen. Customizable, user-definable chart areas. Easy to Use Files with electronic handwriting stylus pen, pre-defined or user defined templates, macros and / or voice dictation. View or edit patient information from a desktop or tablet PC. Simple direction-finding menu is planned to raise usage speed while streamlining the information recording process. Point-of-Care Decision Making Manage your reports with quick chart access and file patient documentation at the point-of-care. One-click retrieval of patient notes, medications and very important documentation to assure the greatest medical decision. Managing Orders / Lab Tracking Check and get back test results, makes orders, doctor consultations or surgical procedures immediately from the patients chart. Track past due lab tests and procedures as well as inform users through e-mail. Lab results review reports feature side-by-side history of results and permits inter office lab result communications. Differential Diagnosis Simply file one or more differentials associated with a diagnosis. This module can in addition be used to rapidly replace with a specific diagnosis for a non-billable or non-specific code. Furthermore diagnosis connected practical codes, prescriptions and lab orders can be selected while seeing that diagnosis. Coding Assistance