Behavioral Health Issues Within Inpatient Psychiatric...

Introduction One of the most frequently reported behavioral health issues in inpatient psychiatric settings involves patient assaults (Perez, 2014). Increased occurrence of assaults can have a damaging impact on the life of psychiatric patients (Luckhoff et al., 2013). It presents a threat to the physical and psychological well-being of both psychiatric nursing staff and all patients present (Luckhoff et al., 2013). There are numerous studies showing assaults occurring amongst staff and patients hospitalized in inpatient units; however, there are limited resources for addressing patient-to-patient assaults (Luckhoff et al., 2013). This chapter reviews current studies and identifies available resources on patient-to-patient assaults in†¦show more content†¦A search of several databases with patient assault literature using the date range from January 2010 to February 2017 was performed. The databases searched were CINAHL, ProQuest, and Medline using the terms patient assault, patient saf ety, patient-to-patient, psychiatric, geriatric, staff education, and nursing knowledge of assault. Initially, it generated 33 articles and results were narrowed down to 11 peer reviewed and research articles published from 2012 to 2017 that focused on patient assaults in inpatient facilities. Research shows that utilizing multiple search strategies for evidence-based practices reduces bias in evidence searches and provides a vast pool of resources for review (Atchan, Davis, Foureur, 2016). Methodologically, quantitative studies are highly structured and involve a systematic process to build knowledge (Hall Roussel, 2014). The focus of the search was quantitative studies ranging from systematic reviews, experimental studies, case control studies, and randomized controlled trials using quantitative data and methodology. Additional search terms included the phrase â€Å"geriatric patients admitted on a psychiatric unit and cognitively impaired geriatric patients.† Exclusion criteria included non-English publications, non-peer reviewed articles, and abstract-only articles. Tools. The tool utilized for grading the level of evidence of the articles was the Johns Hopkins Nursing Evidence Based Practice (JHNEBP) model, whichShow MoreRelatedFunding Health Care Services973 Words   |  4 PagesFunding Health Care Services Name Institutional Affiliation Date: Funding Health Care Services 1. How ambulatory services should be funded Ambulatory services consist of an array of healthcare services offered to inpatients overnight at healthcare organizations. Funding of ambulatory services should be done at urgent care, outpatient clinics, same day surgery, group practices, mental health clinics, community health care units, diagnostic centers, and emergency rooms. 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Educational preparation Free Essays

There are three main avenues for a person to become a Registered Nurse in the United States. There are diploma programs, associate degree programs (AD), and baccalaureate degree (BBS) programs. Graduates from all three of these programs are eligible to take the same licensing exam and obtain the same registered nurse license in their respective states. We will write a custom essay sample on Educational preparation or any similar topic only for you Order Now Many people, nurses included, have often wondered what the difference is in the education these nurses have received. Is it all the same? Is an RAN an RAN no matter what his/her education level? The primary difference between an AD nurse and a BBS nurse lies within the focus of their nursing education. Recent research indicates that baccalaureate programs focus more on care coordination and community health than do associate programs. One source stated that baccalaureate nursing programs historically provide two to three times more clinical training in outpatient settings than associate programs (Feature 2013). Thus, baccalaureate prepared nurses are better equipped to work in these alternative healthcare settings and to provide care to patients who eave the hospital and move on to these alternative settings. The associate degree (AD) nurse holds the same license as the BBS nurse. However, the focus of the associate program education is quite different. City University of New York faculty fellow, Maureen Wallace, Deed, RAN, stated, â€Å"Most AD students get an excellent clinical experience but their education has been heavily skills oriented and focused on acute care. (Feature, 2013, p. 3) The associate nurses’ education is geared more towards inpatient, hospital based care. Unfortunately for he AD nurses, this puts them at somewhat of a disadvantage in the current healthcare climate. According to Dry. Patricia Banner (2009), more than 50% of all nurses now work outside of the hospital setting. So while AD nurses may have fantastic clinical skills for acute care, they may not posse ss critical knowledge needed to educate patients on disease prevention, self-care at home, and utilizing community resources. This apparent knowledge deficit and acute care focused training could significantly impact the way an AD RAN responds to a patient need versus how a BBS RAN might respond. This difference could even negatively impact the patient in the future. This can be demonstrated in the fictitious scenario of Mr.. Smith. Mr.. Smith was admitted to the hospital through the emergency room four days ago with complaints of severe abdominal pain and vomiting fecal matter. He was diagnosed with a bowel obstruction secondary to colon cancer and immediately underwent surgery for tumor removal and bowel resection. He was married with two small children. He had lost a significant amount of weight in recent weeks and was extremely weak. Significant differences in the education level between the AD and BBS nurses can be seen in the way each delivered discharge instructions to this patient. Utilizing her skills and acute care knowledge base, Nurse AD, focused her discharge instructions on post pop pain management, surgical site infection prevention, dietary restrictions, activity limitations, and the importance of keeping follow up appointments with the surgeon and oncologist. She instructed the patient’s wife on how to perform the dressing change, and Mrs.. Smith performed a return ministration reluctantly. Mr.. And Mrs.. Smith nodded politely as Nurse AD provided instructions but they did not ask any questions. They both nodded in agreement when she asked if they understood the instructions. Mrs.. Smith signed the discharge instruction form and Nurse AD advised them to let her know when they were ready to leave so she could call for transport downstairs. Mr.. And Mrs.. Smith were very likely completely overwhelmed at this point, having Just received the new diagnosis of cancer. Mr.. Smith was so weak that he could not perform his own Tall’s. Mrs.. Smith as wondering how in the world she was going to get him out of the car once they got home let alone how she was going to bathe him and change his dressing with two small children underfoot. This lack of resources, support, and knowledge could put Mr.. Smith at high risk for re-hospitalizing. Since he will not have adequate assistance at home, he is likely to not follow activity restrictions. He may even fall and injure himself due to his weakened condition. Mrs.. Smith probably did not retain much of the discharge education and may not be able to consistently perform an septic dressing change. His surgical wound could become infected. If Nurse BBS completes Mr.. Smith’s discharge teaching, the scenario could be much different. Nurse BBS also drew from her educational background. However, hers was more focused on care coordination, community health and illness prevention (The impact of education 2014). She began her discharge instructions by assessing the couple’s level of understanding and coping as well as the resources available to them at home. She asked if Mr.. Smith had a wheelchair for transport from his car to his home. She asked if they had a way to raise the head of his bed or if they had a reclining chair that he could sleep in for comfort and ease of movement. Mrs.. Smith responded by replying that she does not have a clue how to operate a wheel chair or where to obtain one and furthermore, she was not sure she was going to be able to take care of him at all. Nurse BBS identified the need for ongoing skilled nursing care and education. She spoke with the surgeon and obtained an order to refer Mr.. Smith to a home health agency. She delayed Mr.. Smith’s discharge for several hours until he home health agency could evaluate him and deliver a wheelchair and hospital bed to his home. Mr.. Smith will now receive nursing care at home to manage his wound and to train Mrs.. Smith on aseptic technique for dressing changes. He will also receive education on all aspects of his newly diagnosed cancer and physical therapy to address his weakness and prevent falls. In this scenario, Mr.. Smith is much less likely to return to the hospital because of the nursing education and in home care he received (Beanbag’s and Terrain 2000). His wound will likely heal very icily and he will be better prepared to cope with his disease and recovery because he will have received ample education from his home health nurse. He will probably feel less fearful at home because he will still have access to a nurse when he has a need or a question. In both scenarios, the nurses held the same license. They both performed their Job duties well. They both had the patient’s best interest at heart. They both utilized the nursing process and interventions to assist the patient during his time of crisis. However, Nurse Abs’s interventions were better suited to meet the tangent’s needs. Because her nursing education was more focused on community health and outpatient settings, she was better able to assess the patient holistically and address his immediate and long term needs. Mr.. Smith is much less likely to be re-hospitalized and much more likely to have a good outcome because of Nurse BBS. How to cite Educational preparation, Papers Educational Preparation Free Essays Educational Preparation juli mar Grand Canyon University NRS 430 12-18-11 Educational Preparation There are 2 common, but different, pathways to receiving a RN license. You can earn a bachelor’s degree (BSN) or an associate degree, (ADN). While there are similarities between the two programs, a BSN takes two additional years of college at a university. We will write a custom essay sample on Educational Preparation or any similar topic only for you Order Now Both programs teach nursing skills, electives ,science courses, and clinicals. But, the BSN program is a more in-depth study of nursing research, theory, evidence based practice, management, community, and public health nursing. The baccalaureate program gives the individual the added benefit of having more education. â€Å" No matter which type of entry into practice program one chooses, â€Å"the demands placed on nursing in the emerging health care system are likely to require a greater proportion of RNs who are prepared beyond the associate degree or diploma level. (Recreating health professional practice for a new century. , 1998). Even though the BSN has more education, both graduates are held to the same standards of practice. ADN and BSN nurses must pass the NCLEX exam. They have the same patient workload, responsibilities, and the same starting rate of pay. This brings up the often debate, are their competencies any different ? Mildred Montag created the 2 year associate degree after World War II. Several important goals were attained by the AD programs’ success. It helped train registered nurses to help replace baccalaureate nurses in a shorter time. † A new pool of students, including men, married women with children, and older than typical undergraduates, were now able to choose nursing career† (Creasia Friberg, 2011, p. 1). Montag assumed these nurses would be assistants to the professional nurses, and since there has been a long debate on whether this degree should continue. The conflict is related to the educational level, leadership, and critical thinking skills of the BSN vs. ADN. Many other countries, Canada, Sweden, Portugal, and the Philippines all require a four year BSN degree for entry level RN. I do believe employ ers in the United States are moving towards a BSN for entry level as they did before the ADN was developed. In 1965, the American Nurses Association (ANA) designated the baccalaureate degree as the educational entry point into professional nursing practice†(Creasia Friberg, 1965/2011, p. 4). Most employers have a strong preference for hiring a BSN, as nurses continue to expand their roles and are providing more community based care away from the hospital. Society is also changing and patient needs are becoming more complex as they are living longer, have more chronic illness, and technology advancing. These are reasons a BSN is becoming more apparent in our society today. Does having a BSN mean she/he is more competent over the other ADN ? A BSN is better prepared to meet all the patients needs. They can better assist with teaching in the communities, can take a leadership position, function as clinical nurse leaders( charge nurse), has more advanced critical thinking skills, familiar with nursing research, evidence based practice, and theory. Evidence based practice( EBP), means to back up opinions and practices with facts. Basically, the more we think about what we’re doing and why the better nurses we will be. We learned the importance of this from Florence Nightingale, the founder of modern nursing. She used EBP to improve the conditions of hospitals during the Crimean war. She assessed the environment, collected data, identified interventions, and monitored patient outcomes. In less than 6 months her interventions significantly decreased the mortality of soldiers. Nightingale utilized supporting evidence to transform healthcare(Cooper, 2011, p. 1) With her information, evidence based practice became used and appreciated. Nurses need to know what proven techniques and interventions have been found to be most effective. They can only do this by applying evidence based practice, which is better taught at a BSN level. A BSN can continue to expand their role as a RN, using their BSN as a stepping stone towards, nurse practitioner ,nurse midwife, or nurse anesthetist, if they decide to do so. BSN nurses will find it easier to get faculty teaching positions, higher level administrative roles in hospitals and state or federal level government jobs(Forster, 2008, p. 1). In today’s world more is expected from a nurse than ever before. Nursing practice is not just starting IV’s and following doctors’ orders. The public expects care to be delivered by a professional nurse. The RN must be able to make critical decisions about a patients care, to question the doctor if orders seem inappropriate and to help the patient through some times life-changing decisions. This takes an education that is broad based, one that includes critical thinking and exposure to many different people, thought processes, and culture and societal norms. (Forster, 2008, p. 1). ADN usually cost less and takes less time to complete, but isn’t always the best choice if career advancement is wanted. The quality of our patient care is dependent on our education. Both are wonderful paths for anyone pursuing a nursing career and offer excellent pay, job security, and a wide range of work environments and experiences. References References Cooper, C. (2011). Transforming Healthcare through the use of evidence based practice [journal]. Nursing Excellence, 1(1), 1. Retrieved from http://www. childrenscentralcal. org Cooper, C. (2011). Transforming Healthcare through the use of evidence based practice [online newsletter]. Nursing Excellence, 1(1), 1. Retrieved from http://www. childrenscentralcal. rg Creasia, J. L. , Friberg, E. (2011). Introduction. In E. Mosby (Ed. ), Conceptual Foundations : The Bridge to Professional nursing practice (p. 4). Retrieved from (Original work published 1965) Creasia, J. L. , Friberg, E. (2011). Nursing in Institutions of Higher Education. In E. Mosby (Ed. ), Conceptual Foundations: The Bridge to Professional Nursing Practice (p. 41). Retrieved from Fo rster, H. (2008). ADN vs BSN. Retrieved from http://nursinglink. monster. com/education/articles/3842adn-vs-bsn Pew Health Professions Commission. (1998). San Francisco: Author. How to cite Educational Preparation, Papers Educational Preparation Free Essays Life is the largest ongoing educational facility in the world, and attendance is mandatory for all living breathing individuals. Nothing prepares an individual for life or its many lessons, as the old saying goes, â€Å"You live and you learn. † While we are all students daily in life’s university, we have many areas of individuality to grow, achieve, and seek knowledge. We will write a custom essay sample on Educational Preparation or any similar topic only for you Order Now One aspect of individuality in life lies in the professions we choose and how we as individuals perfect our professions over the course of our life journey. Unlike the lessons in life the educational preparation required to enter the field of nursing is all about building a foundation to prepare, stimulate, and advance its students. Nursing is a phenomenal profession that offers many varied aspects of diversity in levels of skill, areas of practice, and practice settings. Since I was a child nursing has been the career choice that I knew would be my life’s work. In this paper I will discuss my educational preparation journey associated with the profession of nursing from the historical start of this profession leading to current day practice, the various levels of nursing from Licensed Vocational Nursing to Baccalaureate Science Nursing, and evaluate documented research on differences in approach and decision-making as it relates to the educational preparation of nurses. Nursing is the protection, promotion, and optimization of health and abilities, prevention of illness and injury, alleviation of suffering through the diagnosis and treatment of human response, and advocacy in the care of individuals, families, communities, and population (â€Å"What Is Nursing? â€Å"). This is the definition presented by the American Nurses Association as it encompasses the nursing practice as a whole. The historical leaders of nursing laid the foundation for this definition and the various levels of nursing education available today. There are different levels of nursing and the guidelines that govern the laws for which we can practice under our licenses. The lowest introductory level of nursing begins with licensed vocational nursing (LVN). There are many entrances to begin training to become a registered nurse (RN). The professional nursing degree can be obtained through several educational programs diploma, associate degree, baccalaureate degree, and the master’s degree pathways. These varied pathways and educational levels of training associated with the title RN are all measured upon completion by the NCLEX-RN examination. The basic duties of an RN are generally the same for all degree pathways and include the assessment of patients, educating patients, family members, and caregivers on illnesses and medications, operating medical equipment, and working as part of the interdisciplinary team. For the purpose of this paper my focus is drawn specifically to the differences between the Associate Degree Registered Nurse verses the Baccalaureate Science Nursing degree. As I previously stated the basic duties for both levels of professional nursing remain the same, however the BSN prepared nurse will in the long run have more career opportunities. The opportunities available to BSN degreed nurses include nurse educators, public health nurses, and advanced practice nursing (â€Å"The Baccalaureate Degree in Nursing,† 2000). One of the questions asked to be addressed in this essay was to identify a patient care situation describing how nursing care or approaches to decision-making may differ based on the educational preparation of the nurse ADN versus BSN. As an ADN prepared nurse I have worked with other nurses prepared through other various educational levels and I honestly see no difference in our approaches to the nursing practice. I also find it in some ways insulting and degrading as a nurse to have my educational training devalued. While BSN prepared nurses do receive more educational training in regards to management aspects of nursing the applications of nursing practice, nursing care, and clinical skills training remain the same. How to cite Educational Preparation, Papers Educational Preparation Free Essays Write a formal paper (750-1,000 words) discussing the differences in competencies between nurses prepared at the associate-degree level versus the baccalaureate-degree level in nursing. For additional help finding research on this topic, refer to the library tutorial located at in the Student Success Center. Identify a patient care situation in which you describe how nursing care or approaches to decision-making may differ based upon the educational preparation of the nurse (BSN versus a diploma or ADN degree). We will write a custom essay sample on Educational Preparation or any similar topic only for you Order Now Introduction Nurses are prepared in two different educational backgrounds, the baccalaureate degree level of nursing and the associate-degree level of nursing. Though they are prepared in two different settings when completion of these programs both sit for NCLEX-RN exam. The NCLEX is the state board to license and RN for competency to work as a registered nurse. There are few differences in competencies between associate- degree nurses and baccalaureate degree level nurses including their level of commitment, leadership skills and their quality of patient care. Education is an infinite process. Every day, new developments emerge and new deceases and remedies discovered. The overall outlook of healthcare professions has dramatically changed in the past few decades. Nursing plays a very critical and important part in efficient care and patient safety. Nurses work shoulder to shoulder with physicians in treatment planning and management. Legal and ethical responsibility of the care provided is also increasingly shared by the Nurses. Nursing profession thus calls for better qualified and well groomed nurses. Even though associate degree programs prepare nurses for patient care in a hospital setting, that training is insufficient for a variety of nursing roles. Comparison Point one-Associate level nursing was established after World War 2 during a nursing shortage. This started at the community colleges; students would have to attend for 2 years to obtain your nursing degree. Community colleges were growing at a fast rate they were able to accept many more students than universities. Associate nurses were taught the skills of nursing to work as an RN. One study showed that when reviewed by managers 86% of ADN nurses met or exceeded their expectation. (EEpg268) Point two Baccalaureate degree programs are help at the Universities, and students would attend these schools for four years to obtain their nursing degree. One study shows that nurses with their BSN are shown to be less task oriented, have critical thinking skills, are more professional in their role, and show more leadership skills. These nurses look at the patient as a whole and not just a list of things they need to accomplish during their day. ADN program is designed to provide the skills and knowledge to become a compliant generalist nurse. In most cases, it is a 20 month program aimed to provide a reasonably good training for the licensure examination (NCLEX-RN) and then an immediate, decent staff position in hospitals and inpatient healthcare modern society human being, encompass extensively sophisticated requisites provoking advanced techniques of acquisition directly correlating to health care industry. The health care is intensifying in complexity and observing beneficial amendments. The longevity and expectations have heightened thus nurses are obligate to become educated in higher echelon, the professional baccalaureate level, to comprehensively achieve composite necessities. The professional nurse who graduates with a baccalaureate is primed for broader role in numerous facet of health care in addition to global knowledge of functionality of medical system and diverse methods of application. Enabling the application in daily patient care, the delegation of tasks, independent decision making, secure patient discharge, and numerous other aspects provoking an improvement in quality of care. Research has shown that lower mortality rates, fewer medication errors, and positive outcomes are all linked to nurses prepared at the baccalaureate and graduate degree levels. Education for nurses is life long process either at the bedside or school, nurses are continuously learning to meet the competencies of professional practice and growing demand of excellent care. The difference between the nurse prepared at the associate degree level versus the baccalaureate degree level in nursing is the nurse with baccalaureate degree has the more prestigious degree and training in global aspect of health care Learning in complex systems is, itself, complex. Nonlinear systems confound attempts to develop and enforce simple models of cause and effect, and so traditional, hypothetical-deductive methods to explore cause and effect often fail. We know that in the daily life of parenting, marital relationships, and team sports, where â€Å"continual learning and improvement† replaces â€Å"planned experiment† as an approach for gaining knowledge. Even where firm, cause-and-effect knowledge exists in science-based health care the knowledge, for example, that antibiotic A will almost always kill bacterium B the application of that knowledge runs straightaway into the messy world of complex systems. That is, reliably getting the antibiotic safely into the body of a patient with that germ turns out to be a constant challenge as systems fail (the order got lost), unpredicted side effects occur (the patient is on an incompatible other drug), local circumstances become highly relevant (the drug is unfamiliar to the new doctor), and errors multiply (the bacteriological report was on the wrong patient). The fact is frustrating and inescapable: in health care, as in any complex enterprise, the simple, scientific facts lie fallow without continual Adaptation to local contexts. The modern nurse who intends to improve the job effectively needs to be a master of the work So what is the difference and how will it affect the course of a career in nursing In today’s nursing world, more is expected from a nurse than following doctor’s orders and starting IVs. The nurse must be able to make critical decisions about a patient’s care, to question the doctor if orders seem inappropriate and to help the patient through, sometimes, difficult life-changing decisions. These skills take an education that is broad based, one that includes critical thinking and exposure to many different people, thought processes, and culture and societal norms. Two year nursing programs do recognize these needs and address them as they can, requiring liberal arts classes to be taken before entering the program and teaching decision making skills along the way. At every level of nursing, the ability to connect with different people, recognize the pressures they face from their personal environment and find value in each is critical. This is a lot to learn against a backdrop of proficiently performed procedures and giving the right medication. BSN  programs offer more education aimed at developing these skills. These programs bolster knowledge about community and public health issues. There is also more attention paid to nursing management, that is, enhancing skills needed to help â€Å"direct reports† do their best work for the patient and the health care organization. Opportunity to refine patient assessment skills and examine more in depth the pathophysiology of diseases, also sets these rograms apart from their two-year program me Nurses who graduate with a BSN degree will find it easier to enter faculty teaching positions, higher level administrative roles in hospitals or other health care environments and State or Federal level government nursing jobs. And for some, these roles are more satisfying, allowing the individual to affect change at a more global level than one-on-one nursing. While it is true an experienced, talented nurse with an AS degree can move â€Å"up the ladder† into management and leadership roles, the Bachelor’s degree can make the climb a little less steep. And, with all this said, there will always be a critical role for the nurse who works directly with the patient, teaching patients about their health care, assuring quality wound management in the hospital setting and observing patients for signs of a worsening condition. Nursing is a huge and welcoming field. It offers a satisfying career path for both AS and  BSN  trained nurses. Whatever path you have chosen in nursing, the essential wisdom is to continue enhancing your skills and education so that your community, your organization and your patients benefit from your broadened view of the world. Conclusion I know personally from being an RN with my associate degree that I do think differently than other RNs. I find myself worrying a lot about the tasks that I need to finish before my shift ends and not looking at the reasons why I am doing things. I watch other RNs getting why they patient is experiencing these symptoms while I am just following orders and treating the patient. I have seen myself start critically thinking on what my patients need and asking the doctors for different things. References Conceptual foundations the bridge to professional nursing practice 5th edition 2011 American Association of college of nursing Robert Rosseter april 2 2012The Future of Nursing: Leading Change, Advancing Health http://www. nap. edu/catalog/12956. html Aiken, L. H. , Cheung, R. B. amp; Olds, D. M. (2009, June 12). Education policy initiatives to address the nurse shortage in the United States. Health Affairs Web Exclusive. Accessed June 22, 2009 at http://content. healthaffairs. org/cgi/content/abstract/hlthaff. 28. 4. w646 American Association of Colleges of Nursing (2009). 2008-2009 Enrollment and graduations in Baccalaureate and graduate programs in nursing. Washington, DC: Author. How to cite Educational Preparation, Papers

Cyber Security and the Internet of Things-Free-Samples for Students

Question: Discuss about the Challenges in Cyber Security for Business. Answer: Introduction Online threats are increasing in the business environment which has increased the risks to the safety and security of the confidentiality of the business. It is vital to ensure the safety of the confidential data of the business and customers. There has been a rise in the use of cyber security for ensuring security and safety of the business from hacking and other online threats (Nojeim, 2010). Technological developments have given rise to the concept of cyber security for protecting the confidential data of the business from unauthorized use by others for their personal benefit. Online threats are creating harm to the business and to the customers at large. Cybercrimes are increasing due to which business and customers are getting affected. Technology is being used by the cyber criminals for stealing the confidential information of business and customers (Goodyear, 2010). Businesses are facing various challenges due to the online threats creating an impact on the cyber security for business. The focus on the cyber security is on providing protection to the business and customers. Various challenges are being faced by business due to cyber security. These challenges include education and awareness, services and privacy, prevention of data loss, encryption of USB, third party device connectivity, disk encryption, application control, mobile device management, indicators of the breach, the team for responding to emergency situations, insider threat, and the internet. All these challenges are affecting the performance of the business and there is a need to cope with these challenges in cyber secruity (Clemente, 2013). This project will discuss the role of cyber security for business and the various challenges which are being faced by the business. Figure 1: Cyber security Source: (Golbeck, 2017) Project objective Objectives are the goals which help in guiding the efforts of the individuals towards the right path. Objectives have been set for this project so as to execute this project in a successful manner. Project objectives of this project are mentioned below: To analyze the concept of cyber security and trend of cyber security. To identify the role played by cyber security for business To analyze the different challenges in cyber security for business and identifying measures for dealing with these challenges. Project scope The aim of this project is to analyze the various challenges in cyber security for business which are creating an impact on the performance of the business. This will be done for gaining an understanding of these challenges. This project will help in providing a detailed understanding of these challenges and analyzing the impact of these challenges on the business and customers. The focus of this project will be on collecting information related to the topic of the project. Literature review Role of Cyber Security According to Cornish, et. al. (2011), Cyber security can be explained as the body of technologies and practices which are designed with a motive to provide protection to the networks, programs, and computers from the unauthorized access of the data or information. Cyber security is an important aspect which forms a base for the digital transformation. Cyber-attacks are increasing with the change in the business environment and have become an international concern. Network protection is an important aspect as every element of the economy is linked to the internet. Lack of protection for data stored on the internet can create a huge impact on the economy. The global economy is getting affected due to the increasing cyber-attacks. A cyber-attack can be understood as a situation when computer systems, networks and enterprises dependent on technology are exploited intentionally. Cyber defense strategies are being adopted by the businesses for ensuring the protection of the confidential in formation (Nojeim, 2010). Cyber-attacks are creating huge harm to the business. With the increase in the number of services, there has been a rise in the number of cases related to cyber-crime. Constant technological innovations are the reasons behind the growth of the cyber-crimes. Cyber-crimes are creating an impact on the reputation of the business, affecting the competitiveness of the business and financial losses to the business. Cyberspace has evolved the manner in which business operations are carried out (CUNY, 2010). Cyber security is an important issue for the global economy for ensuring that illegal and unethical practices are not creating harm to the global economy. IT security teams and professionals are making constant efforts for coping with the cases of cyber-attacks. Cyber-attack is becoming a life threatening threat to every business which is affecting the existence of the business. Cyberspace has provided growth opportunities to the business by enhancing the quality of the services offered by the customers (Raduege Bissell, 2013). Cyberspace has provided opportunities for the growth and expansion of the business but there are some serious risks which are associated with this concept. This rise in the use of cyberspace has increased the number of cases along with the increase in the cost involved for the protection of the data of business from hackers or cyber-criminals (SECU View, 2016). Challenges in Cyber security for business Major changes have taken place in the IT sector which has increased the need of cyber security for businesses. Businesses need to ensure the safety of the digital assets from the unauthorized access. Cyber-criminals are targeting large, medium as well as small businesses. Cyber-crime damages are increasing the cost of businesses as well as affecting the functioning and customer base of the business. Companies are using cyber security for operating a safe and secure network and protecting the data related to business and its customers (Raduege Bissell, 2013). There are various challenges in cyber security for business. These challenges in cyber security for business are an insider threat, management of password, mobility, the internet, privacy laws, connectivity of the third party devices, USB control, encryption of the USB, prevention of the loss of data, application control, disk encryption, digitalisation, big data and cloud computing (Mena Report, 2016). One of the biggest challenges for the business is related to insider threat. Dissatisfaction level among the employees may increase due to which insider threats develop. This insider threat can create harm to the cyber security of the business. Proper protection must be done of the systems by installing software. An employee may violate the network security rules formulated by the company for protecting confidential data. Training must be provided to the employees and consequences must be explained to the employees. This will help in keeping a check on the cyber threats (Valk, 2010). With the advancement in the technology, cyber-criminals are putting their efforts of cracking the passwords so as to gain access to the confidential information of the business. Passwords should be changed at regular intervals for eliminating the cyber-threat (Greenwald, 2013). In the article written by Greenwald, qualitative research method has been used for collecting theoretical knowledge related to the research topic. For example, a case of threat of credit cards data took place in the year 2014. In this case, data of 50 million credit cards were stolen from the system of Home Depot. The system of the home depot was breached due to which credit card details of 50 million card holders were exposed. For getting access to the computer network of the company, thieves have used the user name of the vendor and password. Thieves installed malware in computer network due to which details of the credit cards were handed over to the criminals (Murphy, 2017). Another example is the breach w hich took place due to the use of outdated technology. It was disclosed that this breach has exposed the data of 21.5 million people. This case is one of the biggest cases of breach of U.S. Government data (Murphy, 2017). The Internet also acts as a challenge for the cyber security which affects the performance of the business. The secured medium needs to be developed for ensuring the protection of the data available over the internet. The Internet is an open connection and cyber threats can affect. For example, in the year 2009, Google corporate servers were hacked in China. Intellectual property and other information were hacked and this hacking took place for gaining access to the Gmail account of Chinese human rights activists. Court orders which were authorizing surveillance were hacked (Murphy, 2017). Employees have started using their personal devices for accessing the portals of business which is an increasing issue for the businesses. Details or confidential data of the employees and of the company are at risk due to the availability of hacking software over the internet. Privacy laws need to be formulated for ensuring the safety of the data. Lack of effective privacy laws can act as a challenge for the cyber security. Fake advertisements and feedbacks also act as a threat to the safety of personal data of the business (Penzes, 2014). Applied research method has been used in the article written by Penzes. The motive behind use of this research method is to solve the practical problems of the world by analysing the challenges in cyber security. There has been a rise in the use of cloud computing or cloud based services by the business and employees for storing data. Cyber-criminals hack these cloud based storage platforms for accessing the personal information of the business and employees. These details are used for conducting unethical or illegal practices. Barge volume of data is stored on websites or storage platforms and security of these platforms need to be ensured (Wang Lu, 2013). In the article written by Wang and Lu, problem oriented research method has been used. This research method has been used for analysing the challenges faced by different companies. For example, more than a billion user names along with passwords were hacked by Russian hackers. These user names and passwords were hacked from approximately 400 websites (Murphy, 2017). The increase in the process of digitalisation has increased the use of internet based platforms by the business. Businesses are using software, storage mediums and communication mediums which are based on the internet. This increasing dependence on the internet has created a huge impact on the protection of the data of the business. This challenge to cyber security needs to be dealt by using strategies (Chanaga, 2016). For example, it was seen that in the year 2014, Yahoo data breach took place. This breach of data was of more than 500 million users. Another breach was reported which took place in the year 2013. More than one billion users got affected due to this breach and their data was exposed (Murphy, 2017). Secondary sources of data collection have been used in the article written by Murphy for the collection of data. Another important challenge is related to awareness among the employees for the cyber security. This lack of awareness has increased the risk of the business. Organizations are not having emergency response team which deals with the situations of cyber-attack and breaches. Emergency response team analyses the potential cyber threat or breach and take steps for eliminating these threats or breaches. Prevention of data should be the priority of emergency response team as theft or breach results in loss of data. This data can be used against the business resulting in a potential impact on the business (Purdy, 2016). Businesses are not using active application control program which controls or prevents the cyber-attacks and helps in identifying these thefts and breaches which help in dealing with the adverse situation. Companies are less concern towards the protection of mobile devices. Mobile devices are used in the workplace for executing the operations and confidential information is stored on these mobile devices (Chanaga, 2016). Companies need to ensure disk encryption for protecting data from the theft and loss. The secure environment should be created for the business so as to ensure that business is operating in a secure environment. Businesses are becoming more and more concern for the safety and security of the data of the business. This concern has resulted in the use of USB encryption for the protection of the data from unauthorized access and ensuring that the data on a device connected to end point is encrypted (ITU, 2012). The shift of the real world towards the virtual world has led to rising in the cyber crimes. There are various reasons which are responsible for the increase in the cases of cyber-crimes. These reasons include an increase in digital financial services, increase in the interaction through social platforms, profitable returns on cyber-crimes and changing technology. There has been a rise in the digital financial services such as online purchasing, internet banking, and stock trading. This increase in the digital financial services available over the internet is for enhancing the comfort level and convenience of the people. But these services are being attacked by the cyber-criminals for misusing these services (Wang Lu., 2013). There are various social media platforms which are being used by people for communicating and sharing information with each other. These social media platforms have been targeted by the cyber-criminals for accessing the information and misusing it for their ben efit. Personal information is being hacked by the cyber-criminals and is misused for conducting illegal activities. Hackers have used cyber-crime for gaining high profits (Tonge, et. al., 2013). Technological advancements have created positive as well as negative impact on the world economy. The cost of protection is very high which increases the operating cost of the business. Customized solutions need to be developed and for this, businesses need to take help of the IT professionals or experts. Various cyber-crimes take place for affecting the sales of the business. Competitors may adopt unfair methods or ways for increasing their sales and decreasing the sales of other companies. Information related to a business may get hacked by the hackers for unauthorized use and misuse the information for self-interest (Abomhara Kien, 2015). Impact of challenges in cyber security There are various adverse impacts of cyber-attacks which can hinder the existence of the business. Cyber-attacks can result in commercial losses; increase the chances of extortion aside, issues related to public relations, legal compliance, negligence claims and loss of trust among the customers, suppliers, and society. Companies suffering from cyber-attacks may suffer financial loss as main motive behind cyber-attack is gaining monetary benefits or stealing confidential information. The reputation of the business also gets affected due to cyber-attacks (Wang Lu., 2013). This impact of the reputation of the business can result in loss of sale, loss of customers and fall in the profits of the company. Companies may suffer legal consequences as loss of confidential information of the client is a crime. According to the data protection act, personal data of the customers should be managed in a proper manner. For example, Anthem Inc. a health insurer has suffered at large due to cyber-a ttack. Systems of Anthem were hacked in the year 2015 and due to these hacking personal records of approximately 80 million people (Szoldra, 2015). Coping with challenges in Cyber security Companies are coping with these issues and focusing on developing strategies for dealing with the increasing cyber threats. For coping with this issue, there is a need to apply strategies. In the words of Ulsch (2014), businesses can use cyber security audit for protecting data and analyzing the effectiveness of the cyber security strategies used by the businesses. Cyber security plans and procedures allies can be developed. Internal policies need to be created by the business as companies may face threat from the employees of the company. Internal policies will help in keeping a check on the behavior of the employees. Systems used by the business must be updated on regular basis for eliminating the chances of cyber-attack. Employees must be aware of the cyber-attacks and their impacts on the performance of the business. A Strong password should be created and these passwords should be changes on regular basis for ensuring the safety of the data. Security expert must be hired for dea ling with the security related risks (Ulsch, 2014). Identification of gaps During the execution of the research, some gaps have been identified. These gaps are the gap between the existing studies on the basis of which research is carried out and studies on the basis of which research will be executed. Reason behind the creation of these gaps is the lack of proper answers for the research questions of the research. This situation arises when the collected data and analysed data is not answering to the research questions. This research has discussed the challenges in cyber security for business but measures for coping with these challenges in cyber security for business are not discussed. Further research will discuss these measures which are used for dealing with the challenges in cyber security. Journal articles used in this research have discussed the concept of cyber security, its role for business and challenges in cyber security for business. Conclusion Thus, it can be concluded that cyber security is an important aspect of every business. This project has discussed the concept of cyber security and the role played by cyber security in enhancing the confidentiality of the data of the business. Various cases have been identified which are related to cyber-attacks. With the technological advancement, the threat of cyber-attack is also increasing which has raised the concern for the safety of the data of the business. This project has discussed different challenges in Cyber security for business which creates an impact on the confidentiality of data of the business and on the performance of the business. References Abomhara, M. Kien, G. M., 2015, Cyber Security and the Internet of Things: Vulnerabilities, Threats, Intruders and Attacks, Journal of Cyber Security, 4, 6588. Chanaga, J., 2016, Three security actions CEOs must take: Cyber risk is the greatest business challenge of the 21st century,SC Magazine,27(12), 50. Clemente, D., 2013, Cyber Security and Global Interdependence: What Is Critical?, Chatham House. Cornish, P., Livingstone, D., Clemente, D. Yorke, C., 2011, Cyber Security and the UKs Critical National Infrastructure, Chatham House. CUNY, 2010, The City University of New York Monthly Cyber Security Tips for a general user audience Newsletter, The City University of New York, 1 (1). Golbeck, J., 2017, What Cyber security Threats Should Most Worry You?, Slate. Goodyear, M., 2010, Cyber security Management in the States: The Emerging Role of Chief Information Security Officers, IBM Center for The Business of Government. Greenwald, J., 2013, Challenges hold up passage of federal cyber security legislation,Business Insurance,47(10), 17-18. ITU, 2012, Understanding cybercrime: Phenomena, challenges and legal response, ITU. Mena Report., 2016, Australia : Raising cyber security awareness for business, Mena Report. Murphy, K., 2017, Cyber Security: Still among the Biggest Challenges for Businesses, Cyber Training 365. Nojeim, G. T., 2010, Cybersecurity and Freedom on the Internet, JNSLP. Penzes, O., 2014, Information security challenges for companies in the digital age,Northern Kentucky Law Review,41(3), 471-489. Purdy, A., 2016, The Global Cyber Security Challenge, HUAWEI. Raduege, H. Bissell, K., 2013, Cybersecurity for the CFO: Risks, Challenges, and Opportunities, Deloitte. SECU View, 2016, The Importance of Cyber Security in the European Single Market, SECU View, 2. Szoldra, P., 2015, The 9 worst cyberattacks of 2015, Business Insider. Tonge, A. M., Kasture, S. S. Chaudhari, S. R., 2013, Cyber security: challenges for society- literature review, Journal of Computer Engineering, 12 (2). Ulsch, M., 2014,Cyber Threat! How to Manage the Growing Risk of Cyber Attacks (Wiley Corporate FA), Hoboken: Wiley. Valk, V., 2010, Cyber Security: Attacks Increase, Complexity and Challenges Rise,Chemical Week,172(9), 13. Wang Lu, 2013, Cyber Security in the Smart Grid: Survey and Challenges,Computer Networks, Volume 57, Issue 5.

Strategic Management Toyota Japan

Introduction Toyota is one of the most popular companies in the automobile industry. This company started from a very humble beginning, but due to strategic planning, it has managed to achieve its organizational goals. Japan is the company’s headquarter, and this being its parent branch it has played a major role in inspiring the establishment of other branches (Chester, 2004).Advertising We will write a custom essay sample on Strategic Management: Toyota Japan specifically for you for only $16.05 $11/page Learn More Now that the company is ranked among the top organizations in the world, there is more work to be done to ensure that the position is retained. This is because there are other companies that are struggling to achieve the same goals. Currently Toyota manufactures a wide range of vehicles including Rav4, Prado, and Pajero among many others (Kendra, 2009). This paper focuses on Toyota’s company, particularly strategic methods and tools that have led to its superior performance. Policies of Toyota Japan Every organization has its own tailor-made policies that all employees must adhere to, and this is meant to guarantee the achievement of organizational goals. Without clear policies, an organization is most likely to divert to other concerns that were not included in the master plan. It is therefore important to employ salient policies that would act as the guidelines when the going gets tough (Johnson Scholes, 2008). For instance, if a passenger decided to commute to a given destination and it happens that the vehicle breaks down, he/she will look for another mode of transport to ensure that he/she gets to the intended destination. According to Dess and Allan (2006), Toyota mainly focuses on long-term goals regardless of whether those goals will hinder the achievement of short-term goals. This was evidenced back in 1973 during the oil crisis that caused many customers who had purchased Toyota models to repla ce them with other models. This was because the big cars were consuming a lot of fuel and thus, were not considered pocket friendly. In the years that followed, the company had to pay high taxes for it to export vehicles to other markets. The management of Toyota thus decided to collaborate with General Motors (GM). This move was logical because it would help in cutting back on the costs that were incurred on the exports.Advertising Looking for essay on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More Additionally, Bremner and Dawson (2003) argue that Toyota was initially established as Toyoda and thus the brand name had to be changed for this company to be assimilated with its regional market. It was perceived that the initial brand name was not appealing to the local consumers probably because of its sound. It was then proposed that the brand name be renamed to Toyota, which sounded much better and uplifted the reputatio n of the logo and the brand. This approach was logical because it made it easy for Toyota to penetrate the Asian market due to its familiarity and association with the local dialects. At Toyota, the processes of production flow in a sequential manner and this is meant to unveil any underlying problems that can cause the quality of its products to be compromised. The policies of Toyota clearly states that in case a problem or a fault is discovered in the course of production, the processes should be halted until the problem has been solved. In the year 2009, Toyota recalled quite a number of vehicles that were believed to be having faulty accelerator pedals. Although the initiative cost the company dearly, it was considered to be noble because the image the company would have been tainted and the monetary fine would have been heftier (Valdes-Dapena, 2010). Lynch (2006) points out that strategic management in an organization’s set up requires collective participation of all the employees. This aspect is greatly emphasized at Toyota in Japan. This is because if decisions were made in a hurry, the participants would not grasp anything that is contained in the plan. The gradual process of making decisions is important because it creates room for the options provided to be analyzed. Besides, dialogue prepares the employees and the other stakeholders to be prepared for the changes that may cause changes regarding how things are done. Likewise, Toyota’s head office has established indicators that are used to dictate when the level of production should be increased and vice versa. Kendra (2009) agrees that this is because the automobile industry is a very dynamic sector and if the vehicles that are manufactured within a specified period are not sold, they will accumulate as dead- stock.Advertising We will write a custom essay sample on Strategic Management: Toyota Japan specifically for you for only $16.05 $11/page Learn More This implies that Toyota must regularly analyze the relationship between demand and supply by referring to its inventory system; this is through lean manufacturing. For instance, when the oil crisis struck in 1973, then it would have been illogical for the company to continue making the big trucks while it was apparent that the market was moving towards a new trend. Apparently, the demand of Toyota Prius is on the increase compared to other models. This argument has been cemented by the financial reports of 2010, which clearly indicate the sales of this particular vehicle model had increased (Micheline, 2010). Possible Causes of Future Changes When referring to strategic management, it is important to understand why the changes come about. The major inhibitor of changes is the environment that businesses exist. This is to say that organizations can be influenced to embrace the changes with the aim of conserving our environment. International organizations are exerting a lot of pres sure on manufacturers to make products using materials that are not harmful to the environment (Johnson Scholes, 2008). As far as this issue of environment is concerned, Toyota has had to adjust itself because there have been numerous awareness campaigns on the importance of eco-friendly products. Toyota therefore realized that if it did not adopt the new trend, it would soon be ejected out of the automobile business. Vehicles have been found to be the most notorious agents of pollution and thus, the manufacturers have been advised to come up with models that emit minimal amounts of carbon (Lynch, 2006). Toyota has already introduced hybrid plug-in vehicles, which are powered by a lithium battery and gasoline simultaneously. This suggests that such vehicles are fuel-efficient and at the same time eco-friendly. This is what the consumers in the automobile industry have been looking for. Toyota has therefore upped its game by integrating the needs of the consumers with their products .Advertising Looking for essay on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More It is also obvious that the stiff competition in the automobile industry have also played a major role in inducing Toyota to employ a strategic plan. Chester (2004) points out that other companies like Ford are also making fuel-efficient vehicles besides Nissan and Honda brands. In business world, an organization must be on the look out to spot the emerging trends or risk being left out. Strategic management is purely driven by speculations because most people might think that Toyota is overreacting, but then if this company was to sit back and wait for the day when the demand for electric vehicles will swell, then it is bound to fail in its mission. This is because opportunities tend to favor the entities that are more crafty and prepared. In fact, this period is used to evaluate Toyota’s preparedness in handling the changes. This is because the company needs to be certain that the plans will work in its favor. However, it is important to have a backup plan because other cha nges could occur and hinder the realization of an organization’s mission (Dess Allan, 2006). For instance, the recent earthquake has greatly affected Toyota’s branch in Japan. This latest development reveals that humankind has no control over nature and thus backup plans should be put in place to ensure organizational goals are realized. There is a common phrase at Toyota that puts its managers under obligation to familiarize themselves with the situations as they unfold. This requires them to spend ample time with the employees. This is thought as the surest way of ensuring that all stakeholders are committed to the success of the organization. Competitive Positioning Toyota is completely committed to improving the quality of its products, but this initiative has cost the corporation a lot of money because the vehicles that are eco-friendly require more resources to manufacture. However, Vlasic and Fackler (2008) state that the situation is expected to remedy itself, as more customers purchase the new breed of vehicles. Among the changes incorporated lately, include the making of automobile engines that are powered by electricity and gasoline. This has placed Toyota at the top of the rankings compared to similar vehicles that are being manufactured by her competitors such as Ford. This is because Toyota’s models tend to be unique because the other brands that employ the same approach are only powered by electricity. Besides, Toyota has introduced automatic parking systems in its vehicles that are meant to assist Motorists Park their vehicles hustle-free. More features are yet to be incorporated in Toyota models because customers make their choice of a model depending on its specifications (Kendra, 2009). Furthermore, the approach of value improvement has really helped Toyota to reach greater heights. Similarly, the customers of Toyota have responded positively because they are always interested in unique products. Toyota has therefore wo rked had to earn its recognition as a household name. In fact, the government of Japan has acknowledged the progress of Toyota and this has resulted in Toyota being awarded the contract of manufacturing and maintaining the motorcade that is normally used by the mayor. This noble gesture by the government is truly an honor because it acts as an endorsement that will continue to develop the company’s portfolio (Valdes-Dapena, 2010). Other Open opportunities Toyota is looking for other areas that are yet to be exploited. Valdes-Dapena (2010) asserts that the need to diverse has been brought by the speculations that the future markets of vehicles could decline as new technologies continue to be developed in the transport sector. Toyota has already proposed a joint venture with Mitsubishi to manufacture airplanes for regional airlines. This is a smart move because the demand for air transport is increasing and only the entities that will align themselves to the growth of that indu stry will reap the benefits. For Toyota to make it in this venture, it has to observe the possible competitors such as Boeing, identify what is missing in their products, and incorporate the missing concept in its aircraft models. Although Toyota is a mature organization in the automobile industry, that growth is yet to be realized in the new ventures and thus, patience is required for growth to be experienced. Other areas that are potential for exploitation by Toyota include the manufacture of healthcare products such as assistive aids for the disabled (Kendra, 2009). Marketing The strategy employed by an organization in marketing its products is what helps in uplifting the image of its products (Lynch, 2006). Toyota has been able to penetrate the local market through re-branding. According to Micheline (2010), Toyota has managed to thrive in automobile business by developing models that are meant for both low and high-end markets. The success of Toyota would not have been realized if there was no balance between the two markets. The vehicles intended for low-end market have lesser specifications compared to the models intended for high-end markets. The Century Royal is a particular model that is specifically designed for the mayor of Japan. If Toyota were to concentrate on luxury vehicles, its sales would decline gradually because there are more prospects in the low-end market. In addition, Toyota has been using the field events such as motor sports to market itself. The company incorporates its models such as the Lexus in the local races including Formula 3, Super GT, and formula Nippon. Toyota makes money by making the engines of automobiles that participate in these races and uses them as an avenue for advertising itself. Engaging in the races was not enough and thus, another strategy had to be established to ensure the local market for engines remained stable. This entailed developing the models that are appropriate for racing. Besides, more talents had to be developed to ensure that the sport did not run out of talented drivers. This goal was achieved by establishing a program for nurturing drivers into seasoned motor sport drivers. The program is commonly known as TDP (Toyota Young Drivers Program) (Johnson Scholes, 2008). The technological institute was established to act as a reservoir of skills that are needed in this company. Though the initial founders of this initiative are non-existent, the project has served its intended purpose. The talents are derived from learning institutions, such as high schools and other tertiary institutions. The students who demonstrate competitiveness while still in high school are offered scholarship opportunities to enable them pursue further education and thereafter use their skills while working at Toyota Corporation. The initiative is more of a corporate social responsibility program. The program can be used as a succession plan for Toyota because the current crop of employees will one day retire and thus, they will have to be replaced by new skilled employees. Although the programs are expensive, the money is paid back when the trained individuals are absorbed into the company. Likewise, Toyota has its own rugby team known as Verblitz team. This team is sponsored by Toyota and therefore is a medium of marketing. This is done by making the players put on jerseys that are printed with the company logo and emblem. Johnson Scholes (2008) argue that the education programs are not only focused on inspiring upcoming talents, but also the existing employees. This is because the changes in the environment cause their skills to depreciate and thus they need to be regularly updated. As time moves by, the approaches that were once used as solutions cease to be useful and thus, new approaches have to be brought on board and this can only be acquired by investing in continuous learning to promote organizational development. Aspects of Strategic Management Goal Setting Toyota has been able to achieve its organizational goals because it had set the goals from the start. The managers and employees of this corporation are aware of what needs to be done to get to the company’s destiny. The goals are categorized into two: long-term and short-term. Short-term goals take less than five years to be experienced while long-term goals take more than five years. When the company was established the founders had one long-term goal, and it involved setting up a learning institution and in fact the goal took more than twenty years to be realized. Besides, Toyota had short-term goals that included increasing its market share within Japan and beyond its national boarders. This goal was near from being accomplished when the oil crisis struck and temporary goals had to be set (Vlasic Fackler, 2008). Analysis Analysis is another important aspect of strategic management because it enables an organization to get a clear picture of the happenings as they unfold and make t he necessary changes to be able to cope with the challenges (Lynch, 2006). Toyota has been very observant of the situation in the industry. Being analytic has helped Toyota to understand the needs of the customers. There are other companies in Japan that deal with automobiles. These other companies are competitors and Toyota has to analyze their operations and as well as their products. By being analytical, Toyota has been able to identify other opportunities that are yet to be exploited. However, before Toyota decided to venture into other resources it must have analyzed its strengths and weaknesses. This is because if the weaknesses outweighed the strengths then there is no point of venturing into other fields such as aviation, which are more complicated, and very demanding. Strategy Formation According to Dess and Allan (2006), strategic management requires an organization to have a clear vision of future expectations. Toyota has been visionary on the market and that is why it ha s developed options of venturing into other areas. When the options were first drafted, they must have been allocated priorities depending on the availability of resources that are needed to implement the decisions. The electric vehicles were accorded the first priority because the market is changing drastically – unless Toyota evolves with the market, then its products would be rendered useless in the automobile industry. The other options implemented include the development of robots used in the healthcare and entertainment industries. The above stated priorities were implemented because Toyota has the ability and the capacity that is required to implement them. This implies that Toyota has enough work forces skilled in this sector because if there were no skilled personnel, then the idea would have to wait until when the situation was favorable. As stated earlier, the plan of making an aircraft is a long-term goal, but then negotiations are underway and they involve other like-minded entities. Mitsubishi is an appropriate partner in this venture because it also deals with automobiles and therefore the two parties are compatible with each other. Currently, Toyota needs to merge its resources with those of Mitsubishi in order to realize its goals. However, this partnership may not last long because each entity would want to be independent in future (Micheline, 2010). It is therefore certain that there will be a merger between Toyota and Mitsubishi. Toyota has been successful in its mission because it has involved its members who include employees and stakeholders in decision-making processes; this approach must be reflected in its merger with Mitsubishi. Strategy Implementation Once a strategy has been established, an organization needs to embark on the mission of implementing the decisions that are contained in the strategy. Before implementing strategy, an organization must review the available resources just to be sure they are in good shape to deli ver the desired results (Johnson Scholes, 2008). For Toyota to be able to challenge its competitors, it must have upgraded its equipments to meet international standards. The staff at Toyota has been inspired to improve their skills. The availability of skilled personnel has cautioned the company from outsourcing its tasks. The main reason behind Toyota’s success lies under its goal setting strategies. From the look of things, Toyota has all along remained committed to fulfilling its long-term goals. Similarly, other companies in this industry have diverted their initial plans at the onset of challenges. It is this attribute of soldiering on that has enabled Toyota to excel in its ventures. In strategic management, it is important to note that short-term challenges and solutions do not last long, and it is therefore important to focus on long-term solutions. When the environmental and international organizations raised concerns about the amounts of carbon emitted by vehicles , Toyota thought of a solution that could solve the problem entirely. Short-term solutions are very expensive to implement because the processes have to be repeated regularly and they may not work as expected (Dess Allan, 2006). In this regard, Toyota established a production system commonly known as Toyota Production System (TPS).The system is used to manage inventories and in improving the quality of production. By having such a system in place, the company can be certain that there are minimal errors and that the customers only get what they require. When the suppliers of Toyota deliver the raw materials that are to be used in the manufacture of automobiles, the TPS is invoked to evaluate the materials and components needed and discard the others. In fact, this idea was borrowed from a very different field and hence it had to be configured to meet the needs of Toyota. Leadership at Toyota The success of Toyota is owed to its efficient leadership structures. The mangers at Toyota have good working relationships with their employees in their respective departments. This enables the two parties to communicate effectively and thus, move collectively towards a common destiny. This kind of interaction favors teamwork because it strengthens the bondage among employees and their superiors. From another concept, it favors innovation because the employees are free to incorporate their skills into their tasks (Johson Scholes, 2008). In fact, at Toyota, every employee is regarded as his/her own inspector – employees should not wait until the supervisor is physically present to implement a decision when things are not in the right order. This has instilled a strong sense of belonging, which makes employees to work as if they owned the company. Respect is highly emphasized at Toyota and this means that everyone commands respect regardless of his/her position in the company. Conclusion Toyota has emerged as one of the most successful companies in the automobile i ndustry. Having defined goals has helped Toyota to overcome the challenges as opposed to other companies that have resorted to remaining dormant. For the current success to be retained, Toyota must remain focused because the competitors are also designing new models that are intended to compete with those of Toyota, and hence more efforts must be directed towards remaining ahead of the game. Besides, the approaches that have worked in Japan’s branch should be extended to regional offices so that the entire organization can become uniform, such that the images of the other branches reflect the image of the parent branch. References Vlasic, B. and Fackler, M., 2008. Car slump jolts Toyota halting 70yrs of gain. New York Times. [online]. Bremner, B.B. and Dawson, C., 2003. Can anything stop Toyota? An inside look at how its reinventing the auto industry. Business week. November 17. Chester, D., 2004. Lexus: The Relentless pursuit. Singapore: John Wiley Sons. Dess, G. L. and Ala n, B. E., 2006. Strategic Management: Text and Cases. Boston: McGraw-Hill Irwin. Johnson, G. and Scholes, K., 2008. Exploring Corporate Strategy. 8th ed. London: Prentice Hall. Kendra, M., 2009. Toyota passes GM as world’s largest automaker. The Washington Post. January 22. Lynch, R. (2006), Corporate Strategy. 4th ed. London: Prentice Hall. Micheline, M., 2010. Toyota pays its $16.4 million fine over pedals. The New York Times. [online]. Valdes-Dapena, P., 2010. Witnesses: Toyota problems could be electronics. CNN. [online]. This essay on Strategic Management: Toyota Japan was written and submitted by user Leonel Daniels to help you with your own studies. You are free to use it for research and reference purposes in order to write your own paper; however, you must cite it accordingly. You can donate your paper here.

Unemployment as a social issue Research Paper Example

Unemployment as a social issue Research Paper Example Unemployment as a social issue Paper Unemployment as a social issue Paper Essay Topic: Social Issues Factors leading to unemployment In recent times developed countries including the United States and other developing countries continue to face high rates of unemployment with the impact visible in various sectors and industries feeling its pinch more than others. Experts associate these elevated levels with the recession, and the result is various economic and social issues. It is a negative economic phenomenon which has a significant impact on different parts of the society (Zamfir, 2012). It has effects on economic indicators, but the social implications are also important. An economy’s well-being depends on the financial capability of the said economy. It, therefore, means that for individuals in society to ensure that their holistic health is catered for, there is a need for employment for every eligible person. Unemployment, on the other hand, hinders affordability and delivery of the necessary forms of health. It is, therefore, an indication of the magnitude of influence unemployment has on health (Zamfir, 2012). People find fulfillment in the various employment opportunities they hold. Having a job means high levels of self-confidence, self-esteem, and self-worth for almost all people. Therefore when unemployed there are decreased levels of personal morale and other aspects that work within the person. Eventually, the effect extends to the society where negative personal feelings affect how people interact with each other in society. Unemployment is a prerequisite for various problem behaviors in society and specifically high rates of criminal activities, the prevalence in homicides and suicides. People have needs and demands that need employment to fulfill and maintain. Therefore unemployment will push people to places they do not want to go. The pressure may make some commit suicide or even steal just to survive (Pologeorgis, 2014). Another person may commit suicide due to high levels of stress or even depression as a result of unemployment. Effects of unemployment Effects of unemployment on parents trickle down to their children. Evidence indicates that those children whose parents get laid-off from work tend to redo a grade in school. Eventually, the annual income of those children whose fathers get displaced from work is ten percent lower than those whose parents remain employed. It is a clear indication of how the impact of unemployment affects the children. As time moves, it gets hard for an individual who is employed finding a job. It is a situation that causes frustration and high-stress levels within the individual. Unemployment also means that development in the society lags behind. There will be low quality housing, inadequate access to various services and other public amenities and underfunded schools and institutions. Diverse communities are often vulnerable to unemployment. The communities have higher levels of stress due to unemployment (Pologeorgis, 2014). They include the disabled, women and much more. The overall effects of unemployment on the society are often universal, and communities will experience almost similar consequences. Members of the community become frustrated, develop feelings of anger, go into alcoholism and drug abuse divorce and much more. Unemployment has significant effects on various economic indicators. It is however just one of its primary effects. Therefore unemployment is as much a social issue as it is an economic issue. The different effects it has on the society as a whole, and its members give an indication of the magnitude of the problem. Therefore unemployment affects society in many ways that people may recognize. It calls for identification and development of measures that deal with the social aspect of unemployment. References Pologeorgis, N. A. (2014). Unemployment, an Economic Problem or a Social Issue: empirical study. International Journal Of Business Economics Perspectives, 9(1). Zamfir, V. (2012). The effects of unemployment on social issues and health matters. Review of Economic Studies and Research, 5(1), 125-144.

Cry, The Beloved Country Quotes

Cry, The Beloved Country Quotes Cry, The Beloved Country is the famous African novel by Alan Paton. The story follows the journey of a minister, who travels to the big city in search of his prodigal son. Cry, The Beloved Country is said to have been inspired (or influenced) by Laurens van der Posts novel  In a Province (1934). Alan Paton started the novel in 1946, and the book was finally published in 1948. Paton was a South African author and anti-apartheid activist.   Quotes From Chapter One Through Chapter Ten There is a lovely road that runs from Ixopo into the hills... [T]hey go to Johannesburg, and there they are lost, and no one hears of them at all. One day in Johannesburg, and already the tribe was being rebuilt, the house and soul being restored. I have one great fear in my heart, that one day when they are turned to loving, they will find that we are turned to hating. All roads lead to Johannesburg. Now God be thanked that the name of a hill is such music, that the name of a river can heal. Quotes From Chapter Eleven Through Chapter Twenty for who is not silent when someone is dead, who was a small bright boy? Cry, the beloved country, for the unborn child that is the inheritor of our fear. Have no doubt it is fear in his eyes. You see, my brother, there is no proof that my son or this other young man was there at all. [W]e do what is in us, and why it is in us, that is also a secret. It is Christ in us, crying that men may be succoured and forgiven, even when He Himself is forsaken. Old man, leave him alone. You lead him so far and then you spring upon him. Quotes From Chapter Twenty Through Chapter Thirty It is not permissible to add to ones possessions if these things can only be done at the cost of other men. Such development has only one true name, and that is exploitation. The truth is, our civilization is not Christian; it is a tragic compound of great ideal and fearful practice, of loving charity and fearful clutching of possessions. In a land of fear this incorruptibility is like a lamp set upon a stand, giving light to all that are in the house. [T]his thing that is the heaviest thing of all my years, is the heaviest thing of all your years also. Nothing is ever quiet, except for fools. I shall care for your child, my son, even as if it were my own. I am a weak and sinful man, but God put His hands on me, that is all. Something deep is touched here, something that is good and deep. Forgive us all, for we all have trespasses. I have learned that kindness and love can pay for pain and suffering. Quotes From Chapter Thirty-One Through Chapter Thirty-Five When you go, something bright will go out of Ndotsheni. that is a small angel from God. Although nothing has come yet, something is here already. One thing is about to be finished, but here is something that is only begun. But when the dawn will come, of our emancipation, from the fear of bondage and the bondage of fear, why, that is a secret.

English Language Learner do not Need to Become Perfect Speakers Essay

English Language Learner do not Need to Become Perfect Speakers - Essay Example One of the popular perceptions is that English learners needs to be perfect in the learning and should acquire the capability to speak flawless English. This is not a true scenario and it is just a general perception which could be disproved. It is not that the world comprises only of those people who know to read, write and speak English (Carrasquillo, A 1994). This paper will deal with the popular perceptions that are generally associated with language and its uses. Through a thorough, analysis and discussion, the paper will open up through facts that a person who is learning English need not have a great command over it in order to attain success in all of his dealings. It will also bring a clear picture that not all are good at English and there is no necessity to be afraid of being singled out in the learning process. Learning the basics of English is necessary for an effective communication and if one can put across the information confidently in an understandable manner, then the purpose is served well. There are different versions of English language available in the global scenario and this stands evidence that the language does not have a particular form. It adapts and evolves according to the place where the language is spoken. Thus, the essential part here remains the ability to communicate to the other party so that they can understand what is being said. Many people across the world give preference in learning their native language and take up English only as their second language. Except few English speaking countries, a vast majority of countries have only second language English speakers. This stands evident to the fact that a person who is learning the language need not be too specific about speaking perfect, flawless English as the person may often get to interact with other second language speakers of English rather than perfect English speakers (Mukherjee, J & Hundt, M 2011). Business English is fast evolving as the perfect medium of commun ication when it comes to trade and commerce. Business English learning is taken by non-native people who want to learn English as a second language. The learning form helps the people to communicate effectively in the world business forum and they were able to turn out great results using the communication. In this particular form of English learning, the rules as to strict grammar and sentences are not used; rather, the language is used for communicating effectively so that the other party can get to understand the conveyed message immediately. All the aspects of business communications like presentations, meetings and negotiations can be delivered with greater efficiency (Goudswaard, G 2006) If we take the case of International English, it is not something that is too perfect if the rules of English are concerned but it is the widely used form of communication. The world is composed of people speaking different languages and thus, it is not a necessity that the perfect English spe aker tag need to be carried around. Ultimately, we need to deal with more number of second languages English speakers than the native English speakers. All that the second language English speaker needs to do is to master the art of putting across the information in an understandable manner and there is no necessity to make rigid. In fact, many people would prefer a casual business discussion where only the subject matter of discussion is given utmost importance rather

Santanville and its Five Issues Case Study Example | Topics and Well Written Essays - 500 words - 94

Santanville and its Five Issues - Case Study Example On the other hand, the employees do not trust their supervisor with the evaluation process since they feel that he favors some individuals. The employees also believe that their jobs have evolved thus they are advocating the organization to upgrade their jobs. Another issue from the case study is how the supervisor treats the Union Workers. He grants permission to other employees to attend some chores, but denies an employee who wanted to attend to a family issue; to attend the daughter’s play. The action has prompted the Union steward to request a meeting with Santa. There is also a problem with the toy designer who is threatening resignation if the company does not offer him pay increment. The Sales Manager is pointing at the abandonment of the company's base salary with minimum discretionary bonus and focus on incentive-based payment approach to the sales staff. The Manager is having difficulties in retaining or recruiting candidates with the inadequate payment plan. Lack of payment incentive is, therefore, the reason as to why many employees are leaving after a short period (Sathyanarayana, & Maran, 2011). There is also a problem with underpayment of workers. For instance, the North Pole and South Pole salary ranges are different. The employees suspect that company is not adhering to the National Labor Salary Range Act Book. Before deciding on the compensation plan, the company should consider the implication of poor remuneration to the company’s performance (Sathyanarayana, & Maran, 2011). Better still, Santa can avoid the secretary's demands by implementing a new compensation policy that will ensure that employees receive more insurance benefits. However, before arriving at the decision, it is imperative to consider implications on the company's competitive advantage. If an increment on employee overtime can convince them to stay, then it will be best to implement it since replacing talents is always difficult. About job evaluation, the supervisor should use  performance-based evaluation strategy rather than depend on the ranks of employees (Sathyanarayana, & Maran, 2011).

Assessment of the Extent by which the Introduction of Euro Essay Example for Free

Assessment of the Extent by which the Introduction of Euro Essay January 1, 1999 was a memorable date for eleven European Countries as this became the official date that they have come to adopt the Euro as their official currency. All eleven countries would undergo changes in their systems especially the currencies by which they would adopt an official exchange rate that would govern their circulation. The new currency would begin circulation in their respective countries and would then accommodate the transactions that would result from international trade with their allied countries. Allied countries are the countries belonging to the European Trade Union. They are bound by the cause of establishing their economies worldwide as a major economy like the US. Little by little, the currencies mark, guilder, punt, and franc ceased to exist. It was in January of 2002 that all of the twelve countries have fully applied the transition from their native currencies to the new currency. See more: how to start an essay about yourself for college   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   From its initial release, fears sprang forth from the population, especially that of the market. First would be the inflation. It occurred to the people that the conversion of their old currency versus the Euro might be affected by the factor of inflation. They feared that the inflation would also result in the weakening of their respective economies and added burden to the population. Second fear would be that the delivery of the new currencies in banks might rouse plans of robberies and would then fail the government’s plan of replacing their old currency. Another fear of the people would be the replacing of the currencies may not be accepted by their own people. The currency have long been a symbol of a countries identity and pride that it might be a futile attempt to replace it with a new currency that involves other countries and would therefore be an extinct example of national pride. Furthermore, the rate of inflation would greatly affect a country’s exchange of the old currency to the new currency. The greater the inflation would result lower amounts of Euro that a country would get. Second, for a standardization of emerging currencies would mean that banks need to be equipped with the currency in order for them to accommodate the exchange that the population would demand. In the process of transportation of the currency, there may be a possibility of occurrence a robbery by which the banks may not be able to receive the currencies needed for the exchange by the population. This would result to inflation since the central bank would have to produce more money than the actual measure of its resources that we all know contributes to the factor of inflation. And lastly, the general acceptance of the public of the currency is a very important factor since this would affect the overall trade and economy of the country. Since the currency is generally viewed as a country’s identity, it can be predicted that the country would not accept the new currency that would be a medium of exchange between its allies, losing its won country’s identity in the process. However, the results were of the opposite as each country’s people accepted the currency as they believed that the currency may be the answer to their economic problems.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   These fears proved to be of no basis as people readily accepted the new policy for their new currency. This was somehow given a negative vibe as it looked liked their countrymen easily gave up a symbol national pride. But this was also explained thru economics. Money is still money; thus it was used as something that would provide you with needs such as food, clothing and other necessities. It became evident then that the introduced currency was preferred by the greater number.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   The new currency also brought about quite a good side of the economy. Gains were scattered here and there as transaction costs have fallen. This was explained that the conversion costs were stripped by the conversion of the twelve countries monetary units. It became easier to transact with other countries with the use of the Euro. It also brought about the completion of the European Monetary Union. With this, the member countries would expect bigger gains in their growth and steady in the international market. Before the union was established, barriers remain to be visible as banks still charge higher rates in inter-territorial transactions. With this barrier, domestic transactions would be preferred by the people. With this new monetary policy, barriers have disappeared and transaction costs have been made uniform throughout the countries of its members.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   The framework of the union remains complete and no finance ministry of the member countries wanted to be in charge of the said framework, especially that of the finance and fiscal part. The said framework is the framework by which the European Union has agreed to be the guidelines of the system of the implementation for the new currency Euro. Before a specific change would occur that involves a country’s economy, frameworks are done to study the effects that would be associated with the change. Although this is the case, the change in the currency may be the catalyst for change in the member countries target reforms. The said framework is the framework by which the European Union has agreed to be the guidelines of the system of the implementation for the new currency Euro. Before a specific change would occur that involves a country’s economy, frameworks are done to study the effects that would be associated with the change. The target reforms are those reforms in which the countries have conceived for their countries. These reforms are in connection to the change in the currency, but are not discussed with the European Union. Since these topics are different from those of the other member countries, they do not discuss this in the meetings of the currency change since the best interest of the European Union is a major economic change in their region, and not only of specific countries. With this, the countries would begin the change in economic policies that would jumpstart economies in synchronization with the change in currency. Differences in taxation would arise as it would be under observation of each country’s finance ministry. With this, the union would want to target standardization of taxes. This would greatly help the export and import sector as the countries would then be forced to standardize the taxes and tariffs on the goods that they ship. Integration would also be achieved as the basic unit of currency for all members would be that of the Euro. The last good thing brought about by the establishment of the Euro as currency is that the member countries found a way to reform other sectors and even bring the other countries closer to them. Other sectors that do not flourish because of the exchange rate begin to be of better state when the change occurred. Furthermore, the countries that benefited from the change in currency, especially that of the countries that have the abovementioned sectors, got closer in hopes of making the other sectors that are connected to the aforementioned sectors. For example, the agriculture sector was jumpstarted, so the other countries would begin to have major ties with other member countries that have sectors that benefit from agriculture like beverage industries and the like. The result would be less taxes and tariffs in exchange for other advantageous measures for the agricultural country. This also enabled them to make new systems that would be for the benefit not only of one country but all of them. They also found out that different policies can be made as one and this paved way for the making of new policies that may be all-encompassing in their point of views.   Ã‚  Ã‚  Ã‚  Ã‚   Although this may be the case we should still take a closer look in the effects of the establishment of the Euro as the new monetary value for the European Union. Things that we would use in this analysis would be that of the Absorption Model: Using Absorption Model to explain the effect of devaluation on national income, employment effect, trade effect, real balance effect, income redistribution effect, money illusion effect, expectation effect,Laursen-Metzler effect, and so on; Mundell-Fleming Model and explain the graph both internal and external aspects; Analysis of the stability of foreign exchange market, and elasticity approach to balance of payment according to Marshall-Lerner Condition; and finally Foreign exchange risk (foreign currency)for importers, exporters, and investors.   Ã‚   To start of, we have to explain the different measures that we have to use. The Absorption Model or Approach makes use of the balance of payments and exchange rate as the factors or determinants in the measure of the real domestic income of a nation. This approach treats prices as the constants, making the other factors as real measures. A nation’s real income may be measured as the sum of the government’s expenditures, consumption, investments and exports.  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   The Mundell-Fleming Model states that an increase in the money supply would lower domestic interest rates than that of the global rate. Essentially, the Euro is in effect in the export/import markets that would be in relation to the country’s overall economy because of the exchange rates that would be in effect of a country’s money supply. Net export would then increase as local goods would become cheaper than that of the imported goods. Consequently, imports would then decrease as demand would decrease, in turn, exports also increase to meet the demand of higher exports. An increase in the net exports would force the Investment/Savings towards the level of the global interest rate. This equalizer increases the income of the economy of the country. In this case, as the union moved to change its currency, the money supply increased to accommodate the public in the changing of currencies. As this adjustment takes place, the effect of the supply made a change in the export market as the demand for exports and imports changed. The increase in the net export in the end, gave the country an increase in its income.   Ã‚  Ã‚   The Foreign Exchange Risk would also be taken into account as this involves the probability that an investor, exporter or importer would earn; how much they would ear, and if they would lose. This gains or losses are commonly related to the exchange rates of the two countries involved in the transaction. This also shows whether a country has a weaker currency compared to another. By this, we would be able to show if the establishment of the new currency eliminates this factors as this factors are also related to the barriers of trade between the member countries.    Meanwhile, the Lauren-Metzler effect determines the effect of savings and net exports and consequently, in the purchasing power due to a favorable terms-of-trade shock in the improvement in real income. This draws our attention to the state of the economy in exports and imports with respect to its exchange rate.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   The Marshall-Lerner Condition explains that a devaluation in the currency leads a positive effect in the trades as it increases the demand for exports, giving the country more real income. This lays out the positive effect of the devaluation of the Euro currency at first and how it affected the economy of the member countries.    Finally, with all these factors mentioned, how did it affect the member countries generally? What are the aspects of the Euro-member countries that have improved thru the establishment of the new currency, Euro, into their respective economies?                                                                                                                                                                                                                                        à ‚                                                                              We start off the analysis with the discussion of the effects. The Mundell-Fleming Model states that an increase in the money supply would lower domestic interest rates than that of the global rate. The money supply is the black line denoted in the figure above, while the red line denotes the interest rate. The movement in the money supply curve towards the right decreases the interest rate since it does not shift. The shift would occur as the interest rate moves to an equilibrium.                With the same effect in the graph of net exports and imports, the figure above agrees with the first figure on the effect of the money supply. Net export would then increase as local goods would become cheaper than that of the imported goods. Consequently, imports would then decrease as demand would decrease, in turn, exports also increase to meet the demand of higher exports. An increase in the net exports would force the Investment/Savings towards the level of the global interest rate. This equalizer increases the income of the economy of the country. In this case, as the union moved to change its currency, the money supply increased to accommodate the public in the changing of currencies. As this adjustment takes place, the effect of the supply mad a change in the export market as the demand for exports and imports changed. The increase in the net export in the end, gave the country an increase in its income.   Ã‚  Ã‚  Ã‚  Ã‚   Meanwhile, the change in government expenditure caused an increase in the local interest rate that caused the currency to be stronger than other foreign currencies. This may be the effect that happened to the member countries as they have decreased the foreign currencies (member countries having the same currency) and by this strengthened their currencies against the US dollar. This however, increases the net import and net export decreases. The increase would also trigger the global interest to equalize with the local interest.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   On the side of the global interest rate, however, since the net export increased, this prompted a slight weakening of the Euro but also increased exports, making the Euro available to the world market. An increase of the net export would weaken the Euro since the exchange rate would then be fixed with other countries. This would be comparable to making domestic shipments that would neither benefit nor harm a country’s economy. At the same time, since the Euro has become their medium of exchange then the currency would be available to the market as this would be exchanged in the world market. Availability of the currency would ensure circulation in the world market, employing the stabilization of the currency in the world market. As the Euro weakened, exports flowed out of the country and this in effect increased the net income of the member countries. However, as the local interest rate closed in on the global interest rate. The global interest rate affects the currencies indirectly by affecting a country’s income through the import/export market. The Euro seemed to strengthen and this somehow stabilized the new currency. Elasticities are the rate of reaction by which a good undergoes whenever a change in demand occurs. The next model would explain the effect of the Euro in the demand and the reaction of the goods with the new currency available. In the Elasticities Approach, the Euro countries were forced to make the demand and supplies elastic in order for them to have a smaller depreciation in their current accounts deficit. By doing this, they begin to slowly, recover the current accounts deficit and eventually overcome it. With this situation, elasticities would then be slowly changed. As the global interest rates’ effects as shown by the previous models, the effect of it in the real income made the change in the elasticities possible. Thus:                               The effects on the savings of the real income and savings of each country may be further explained by now. Since the increase in savings and net exports was explained through the change in the level of the global interest rates, the improvement in real income is then realized through the increase in the purchasing power of exports. This then proved to be of positive effects on the member countries as this somehow, improved the real income in the economies of the member countries. Lauren-Metzler Model in simple representation. The Lauren-Metzler Model can be further explained by the rate of change not only in export-import industry but also that of the effect of these changes in the exchange rates. As the exchange rates between member companies remain constant because of the uniformality of their currency what would transpire is the difference in the currency between the member-countries and its export-import industry and the exchange rate. Since an increase in the export can be viewed as an indication of a weaker currency, this also indicates that the real income of the country experiencing the export growth is on the rise. This would eventually be accompanied by the strengthening of its currency as the end product. At the same time, the demand of the member-countries import market tends to be on the lower level as their currency seemed to be of the weaker quality. The positive effect on this however is that this picture encouraged the internal flow of the currency until the supply of imports and demand equalizes in equilibrium. When the time approached however, the Euro appeared to be of better quality with respect to the change in its real income and the real income of other countries that are members of the European Union. With these factors in mind, we shift our sights into what happened in the exchange rates. The Exchange rates of the Euro seemed to be on the decrease at first because of the lower currency as compared to others but eventually proved that it would only be momentary as the real income boosted the exchange rate, eventually ending up higher than the US dollar at a certain time. This, together with the positive effects on the import-export market made much difference, not only to the emerging currency but also to the emerging union’s countries’ economies. The emerging union’s countries are the countries that are members of the European Trade Union that has the highest upward boost of the economies. Since not all of the countries had a very high boost, the most significant boosts came from these countries. Significance would differ from each perspective. In more simple terms, the effect of the lower currency (Euro was weak at first) was the improvement of the export market. But since the income effect boosted the currency as it is also a factor of the economy of a country, then combining it with the positive effects of the Euro’s strengthening, the countries that use Euro become boosted and improve their Economies. And since the Economy of the countries rose at an improved rate, the currency got boosted in the same way that the economies of member countries raised.   Ã‚   With the price on the y-axis and the x-axis denoting that of the quantity, the fall of the currency at first with respect to the rise in the export rate, implied a shift in the curve of the currency (red curve) to the right, denoting that in the long run, an export rate rise would result to a strong currency. The fall of the currency at first would be only due to the exchange rate and floatation costs.   Ã‚   In the Absorption Approach, the balance of payments and exchange rates is examined to the effects of it in the measure of the real income of a nation. The Absorption Approach is significant since this measures the balance of payments and exchange rates and how these affect the real income of a country. The two factors considered are said to be the considering factors in the since the effects considered are those that are in relationship to the income and economy. If the real income improves faster than that of the absorption, then the currency would rise. This may be the effect as the Euro strengthened in the first quarter of 2002, giving their value higher than the stable US dollar. The effects of the devaluation of the currency on national income seemed to be on the positive side as this increased their net exports, therefore giving them an improved real income for the economy. The employment then rose as an effect of the economy’s improvement of real income. This was enabled as the countries to attract more investors, creating job opportunities for their people. The overall employment effect on the member countries followed to a positive tune. Real balance increased as it accompanies the effect of real income. An increase in real income increases the real balance of the economy. This is essential to the analysis because this enables us to see the investing potential and the financial capability by which the country could bear itself.(Flood, 2006) The specific question to be asked: how does the country fare with its neighboring countries’ economies in their real balances? This is very important as this may measure the stability of the country especially in the eyes of potential investors that may think of putting up businesses and other ventures in the European Countries. Basic supply and demand in the Trade Effect  Basic y-axis of price and x-axis denoted by quantity, the shift in the supply curve was due to the invisible hand of the law of supply and demand. Trade effect also became evident as the laws of supply and demand are constantly in the work. The increase in the quantity demanded ensured the right path of the trade effect to the plans of the European Union. This enabled them to exercise the free-trade among its co-members. This also enforced the Euro consequently as it continued to circulate non-stop among the member countries. This also ensured that not only is the market gaining in stocks, it also ensured a strong currency that may be strengthening in the future.   Ã‚   The money illusion decreased as the negative views in unemployment and inflation subside. The unemployment rates subside creating a hole in which they could throw the unemployment problem and bury it there. The inflation was treated the same way as neighboring countries would also experience the same way as they also have the same currency as the country they have. The money illusion is essential in explaining the other rise in the economy including the abovementioned factor of unemployment and inflation. To reinforce this, the money illusion would have to decrease as this affects the unemployment by reinforcement. A decrease would also mean that the unemployment rate is decreasing, which is a measure of a country’s economy. The unity of the currency forged the singleness of mind that was needed to erase the doubts governed by the unemployment and inflation.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   The expectation effect of these occurrences may result to the expectance of more Nash equilibriums, where everyone would be on a stable state. The Nash equilibrium employed in this part deals with the output and expenditure ratio. The more that a government puts input should generate a proportional output; in this case, income. As the reliance of the people on the currency grows and their reliance towards the stability of the currency, they would come to terms that they have indeed been placed in good fortunes. This would lead to the stability of the minds of employees, and in turn to the investor that made the investment or business.   The stability of minds would be the likelihood that an employee would remain in the job rather than find their jobs elsewhere. This occurs when the currency of a country remains weak despite the efforts of the workforce to bring it on a development. With these effects in hand, it became evident that the emergence of the Euro has been a good sign for the economy and even looked better in the eyes of the common people as they have been provided work and salary, and even the pride of having their currency among the top as one of the most stable.   Ã‚  Ã‚  Ã‚  Ã‚   13.  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   The Marshall-Lerner Condition further enforced that the decrease in the value of the Euro at first improved the real income of each member. The effect of the devaluation increased their exports, raking in income more then before. As a currency gets weak, demands of good from the country with the weak currency increases. The goods react spontaneously, or elasticly. The rise in demand raises the price of its goods and with this; the rise in income is justified. The chain effect would be the strengthening of a nation’s economy, ending up with currency stability. After which, as the currency begins to regain the strength, the exports would decrease as importers from other countries realize that the price of goods increased, decreasing their profits. However, the export industry of the host country is unharmed as other European member nations see this as an opportunity to increase their imports from the country with the same currency as them, increasing demands for export from the country in question. With this, the export and import market stabilized. This effect not only increased the income of the exporters, but the economy as well. The short-run effect of the condition is further shown as the currency approached its strengthening thru the increase of real income, the export then decreased. Furthermore, the law of demand states that, a decrease in the price of a commodity, then an increase in demand would be evident; an increase in price however would put the demand down until equilibrium happens. In this case, the price of exports decreases, paving way for the increase in the exports and consequent rise in the country’s income. This would also be affected by the consequent taking place of the equilibrium that would happen as the supply would be able to meet the demand, giving the market an equilibrium quantity.   As there were shifts in the part of the supply (black) and demand (red) curves, the equilibrium price of commodities would also make a change. The price line is the broken lines with the color blue. Taking in mind that the y-axis would be the price and the x-axis is the quantity, the decrease in demand, coupled with the increase in supply, not only decreased price but also made the equilibrium quantity lower than before.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   One of the places that the change showed great effects would be that of the financial markets, the bonds/stock market being the main targets. Main issues have risen that the European stock and bonds are very much volatile. This proved that the policy makers of the European Union have set their eyes in the processes towards the financial integration of its members. This started off with the introduction of the new currency. The release of the new currency was seen as one of the initiatives made by the Union to integrate the financial aspects of each. It looked like a very good move on their part as real income of the member countries went on a rise during the initial stages of the developments. The effect of the large demand for the stocks and bonds from the European Union and its sudden drop is something out of the ordinary for other countries. It seemed like they failed to account for the strength of the member countries and their foresight on financial market as they were surprised with the sudden rise in this new commodity. We therefore have to take an even closer look at the effects at the financial markets.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Before the emergence of the Euro, aggregate European Bonds, mainly caused by own bond market effects and that of the aggregate effects of European Bonds, made significant effects on the conditional variances, as this reflects unexpected returns. In addition to that, US bond and stock markets represents a fairly large space in the market. However, after the Euro was made to be a reality, the US markets only became second-runners after that of the European Union.(McCreevy, 2006) This also caused a decrease in the effect of their own bond markets and it’s not just a decrease but a dramatic decrease in their part.   Ã‚  Ã‚  Ã‚   Also before the Euro emergence, a significant volatility spillover is present in the US bond markets. But after the Euro emerged, it seemed like a dream come true for the European countries as the spillover have changed. Not only was the European Bond become in demand in the market but it also proved to be of commanding force in the Stock Market. After the emergence of the As mentioned earlier, the US was just second then to the European Bonds and Stocks. This happened in 2003.(2004) In the introduction of European Bonds and Securities in 1999, it has successfully grown from 9% to 14% shares. Also in 2003, Euro’s currency in international bank notes has overtaken US’s 40.5 and emerged with a 43.5.( as a percentage of outstanding volume totaling to 100) This was further reinforced by the fact that before the emergence of the Union’s own stocks, the US commands the market. However, that all changed with the appearance of the European Bonds, giving the US market someone to contend with in terms of leadership in the market.   Ã‚   The financial market offered many effects in various submarkets. The capital market, for one, tries to keep the inflation in check this past days.(Dennis, 2006) It seems that the first effects were very good that they didn’t seem to think the effect on their capital market would be these troublesome. On the other hand, the equities market is also suffering as the inflation kicks in on their prices. It seemed they cannot cope with the inflation that continues to rise. However, in the place of Currencies, the Eurozone countries may be in a winning mood as they continue to outpace the US by their good growth.(Atkins, 2006) The bonds market is also sharing some suffering although not that evident. What the bonds market shows ,however, is a positive outlook in the future as it slowly goes for a good turn. The commodities market is also suffering a loss as they import more oil. This is not a very good sign for the Euro as oil is a very important commodity. However, this is just as normal as everyone else, says analysts.(Chisholm, 2006)  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   The overall effects of these economic theories have been equally represented and analyzed, what then remained is the effect in the foreign exchange market. The foreign exchange found that the weak-at-first currency strengthened as the economic forces turned into their works. The Euro eventually found its way to the top and eventually became one of the top currencies in the foreign exchange. The Euro is now currently viewed as one of the â€Å"high† currencies and is even viewed in the market as one of the stable s, aligning itself to the dollar and yen. Market analysts view the currency as one of the top as it tends to appreciate more than devaluate.   Ã‚  Ã‚  Ã‚   The GDP and the GNP of the Euro countries are suffering on a low this 2006 and it was issued as a great challenge for the European Union to make policies that may prevent this.(Flood, 2006) This was stressed out earlier in the elasticities effect and the absorption approach. This may be overcome in many ways possible but it would be for the policymakers to do. The PPP and the PFI was sought for improvement of the economy and as of the plans in 2002(2002), few were impressed by the effect of the Euro on these. However, as 2006 draws to a close in December, it would be wise for the policymakers to rethink their strategies.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   The sudden emergence of the new currency, Euro, was such a surprise that the market adjusted drastically. This proved to be of good sign for the members of the European Union as this eventually lead to the leadership of the stock markets and bond markets abroad. This also lead to the development of their own countries as far as the union is concerned. More businesses have been established, more investors expressing interest in putting up enterprises in the European Union’s member countries, perspective buyers in the financial markets looking for more of bonds and stock belonging to the Union, and even the population of the European Union expressing relief that after the Great Depression, there appeared a silver lining that would express hope for their economies.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Furthermore, the effect on the financial market is good as it removed the exchange rate risk involved in the international trade. Exchange rate risk was great before since the countries of the union have different currencies. However, with the emergence of the Euro, investors can now remove the exchange rate risk in their concerns since this is not present anymore. Countries of the Union can now trade with each other without having to think of the floatation risks that involve the exchange rate risk. The removal of this factor was about the same time that the changeover was made in 2002. (2001)   Ã‚  Ã‚   The smart move of the European union may be brought about by the good planning of the financial ministries that governed them. The taking advantage of the lower currency at first to increase their real income, the lowering of its local interest seemed to be a well-planned way to be at par with a superpower such as the US. Now that they have the upperhand in the stock and bonds market, economists wonder on what else is next on the agenda of the European Union, now that they have proven to the world that their combined currency would mobilize and command stability in their areas. This also seemed a good bragging right to their decision making skills as more of the European Countries seek membership to the Union. With this in their worksheets, they can again make another policy that would again prove to be of great importance to the history of World Economics.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   The replacement of the currencies by the Euro may have been a smart move after all. It didn’t look that bad and it never looked like throwing out of national sympathies eventually. But thus, it looked like a well-orchestrated plan of the European Union to gain access to the top echelons of the world market. Now that they have gained access, it seemed like there would be no stopping the union in toppling the US as an economic superpower and industrial zone. Now that the other members are continuing their development, and not just by the numbers, but on exponential terms, there might be bright things to look forward to in the years to come. BIBLIOGRAPHIES Antweiler, W. 2001. 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