Banking sector ( PESTLE and SWOT analysis) Essay

Banking sector ( PESTLE and SWOT analysis) - Essay Example The bank has integrated its investment banking, wealth management and asset management services with the Swiss operations to provide high quality financial solutions (UBS-a, 2011). The bank is relatively new. It came into existence in 1998 with the merger of Swiss Bank Corporation and Union Bank of Switzerland. Today the bank has grown as a global firm with a strong market position in Europe, US and Asia and a higher employee base in US than Switzerland, despite a dominant presence in the Swiss retail market. Most of the growth achieved has been through the M&A (mergers and acquisitions) deals. PESTLE Analysis of UBS The PESTLE analysis of the banking sector examines the various factors that affect the industry thereby impacting the companies operating in the industry. PESTLE is an acronym of political, economic, social, technological, legal, and environment analysis. The factors relating to economy include interest rates, economic growth, rate of inflation and exchange rates. The so cial factors include changes in buying patterns, culture, changes in consumer preferences etc. Technological factors include R&D, advancement in technology, innovation, new inventions etc. The legal factors include the legal framework of the country i.e. whether the legal environment in a country is conducive to conducting business activity, the banking rules and regulations in the country whether it is stringent or liberal etc. The environmental factors generally do not have any influence on the performance of the banking sector. Political- The political condition in Switzerland is quite stable. In fact some economists assigned the political stability of the country as an important factor that propelled the country’s economic success. The political system of the country is very effective as is evident from the high authoritative powers granted to the county and state governments. As compared to the Federal government the state level offices are in a position to react more ef ficiently and are equipped with better decision making power. The success of the banking sector in the area of asset management is owing to a traditionally stable political condition, reliability and high efficiency of banks and the overall good performance of the investments (Swiss Bankers Association, 2004). A stable political environment is conducive for the operations of the banks. Economic- The country enjoys the status of tax haven that makes it an attractive destination for making investments. Switzerland is renowned as the most prosperous and advanced countries in the world. The per-capita income of Switzerland is one of the highest across the globe. The prosperity of the country is on account of its trade with exports being a source of income and import of necessary raw materials contributing to the wide range of indigenous supply of goods and services. The domestic currency is among the soundest currencies in the world. Moreover the country is reputed for high quality fina ncial and banking services. The investment in a country thrives on a stable exchange rate. As mentioned above the country attracts good investments on account of a strong domestic currency. The performance of the banks depends strongly on this factor. The banks can draw good investments from the overseas as the clients are convinced about the value of their investments. Besides the added benefits of tax haven is also one of the reasons that make the region an

Learning New Research Concepts or Techniques by Writing and Other Research Activities Essay Example for Free

Learning New Research Concepts or Techniques by Writing and Other Research Activities Essay The way to go about determining if certain resources are adequate for college assignments would be through an evaluation process. In chapter five of the course material, it provides the six tests of evidence that helps to conclude if discovered information can be utilized for a paper. The first test is regarding credibility. If a source is credible it should be information based on fact rather than opinion. The next test to examine is if the material is unbiased. Be sure founded information has room for other points of view about the issue so that the presentation of material in your paper is fair and balanced† (Sole, K. (2010). Writing College research papers. Another test to examine would be to verify if the information is relevant and relates to your topic. Next, is the source complete? â€Å"Do not take information out of context and mislead the reader by using only the portion of the information that supports your opinion about a topic† (Sole, K. (2010). Writing College research papers. The logical test is to make sure the information makes sense and is consistent with other known evidence. The final test would be to determine how current the resource is. Confirm the sources you use are as current as possible and have not been replaced by more recent research findings. Check to find the date an article was written or, if it has no date, check the copyright or revision date on the Web page to determine how recently the information was updated (Sole, K. (2010). Writing College research papers. An example of a suitable source would be an article from the Ashford Library, because Ashford Online Library have been archived by professional information management specialists, and Ashford University professional staff have selected specific databases for the library that are the most appropriate for your college courses. In other words, they are university and faculty approved. Sole, K. (2010) Writing College research papers. An unsuitable source would be Wikipedia, but can often be used to lead to other sources of information for an assignment.

Creatine and its Dangers Essay -- Athletics Health Essays

Creatine and its Dangers Creatine is a very controversial supplement on the market today. Many endorse the uses of creatine, but others are skeptical about the advantage a person receives from taking it and the dangers one inherits as a result of creatine consumption. The debate remains due to the short amount of time that creatine has been available. People base their opinions on preliminary studies that have been done but no one knows the long-term effects of creatine on the body. Many take the risk without vast knowledge, but others still remain skeptical based on preliminary evidence that discourages the intake of creatine. How Creatine Works Creatine is naturally produced in the body in the liver, pancreas, and kidneys. It can also be provided to the body through the consumption of fish and meat. (http://www.mothernature.com/ency/supp/creatine_monohydrate.asp) Creatine aids in the process of ATP which is energy used for quick, explosive activities such as the sports listed above. When ATP levels drop, muscles become fatigued. â€Å"Regeneration of ATP is essential if fatigue is to be delayed,† according to Charles P. Bolotte, MD. (http://www.lsms.org/journal/98creat.html) In theory, taking more creatine supplements allows for more creatine to be available to synthesize more ATP and therefore causes less fatigue in muscles. ATP is readily available energy for the body that is used in everyday activity. The synthesis of ATP is needed for all activities in the daily lives of people. It is used in the transmission of nerve signals, the movement of muscles, the synthesis of proteins, and cell division. Energy is released when one of the bonds between the end phosphate group is broken and the molecule becomes... ... only proven method for increasing physical shape and muscle mass is hard athletic training. Bibliography Ekblom, B. (1996). Effects of creatine supplementation on performance. American Journal of Sports Medicine, 24, 38-39. Juhn, M.S. & Tarnopolsky M. (1998). Potential side effects of oral creatine supplementation: a critical review. Clinical Journal of Sport Medicine, 8, 298-304. Stone, M.H. et al. (1999). Effects of in-season (5 weeks) creatine and pyruvate supplementation on anaerobic performance body composition in American football players. International Journal of Sport Nutrition, 9, 146-165. Vahedi, K. & Domigo, V. & Amarenco, P. & Bousser M.G. (2000). Ischaemic stroke in a sportsman who consumed Mahuang extract and creatine monohydrate for body-building. Journal of Neurology, Neurosurgery, and Psychiatry, 68, 112-113.

DBQ Federalists and Democratic-Republicans Essay

Thesis: It would appear that the assertion that Democratic-Republicans were strict interpreters of the Constitution while Federalists were not are only somewhat accurate. The Letter from Thomas Jefferson to Samuel Kercheval is of particular interest because Jefferson outright states â€Å"†¦I know also, that the laws and institutions must go hand in hand with the progress of the human mind†. This is somewhat different from the traditional image of Jefferson interpreting the constitution as absolute under any circumstances. The fact that he himself writes that the constitution must be adapted to the times suggest that Jefferson, like the Democratic-Republican party as a whole, was not such an absolutist. Jefferson also states that â€Å"I am certainly not an advocate for frequent and untried changes in laws and constitutions†¦Ã¢â‚¬  which would seem to indicate that He also believed that a change to the constitution was a serious thing not to be taken lightly much like the historical image of the Democratic-Republicans. Jefferson believed that amendments would eventually become necessary to preserve the constitution as a credible document, however he also believed such changes should only be made when absolutely necessary. The fact that this idea about the constitution (that it was not perfect and would eventually need change) contradicts the historical image of strict and absolute interpretation of the constitution that Democratic-Republicans, and by extension Jefferson himself, are given. -While Jefferson shows sympathy towards eventual change on issues such as slavery he did not follow through in the least as president. -Jefferson is sometimes portrayed as the first great president by historians. -Jefferson actually helped sign in the constitution with many of the men who would go on to be federalists. -Jefferson made many of his statements against slavery and absolute interpretation of the Constitution later in life which could suggest that much of these writings were out of hindsight of his actions as president and the unofficial leader of the Democratic-Republicans One document that might suggest that Federalists were not all so supportive of the federal government over the states was the speech that Federalist  Daniel Webster delivered before Congress on december 9th 1814. Webster states â€Å"If the secretary of war has proved the right of Congress to enact the law enforcing a draft of men out of the militia into the regular army, he will be able at any time be able to prove quite as clearly that Congress has the power to create a dictator†. This quote is loaded with sentiments normally expected from a Democratic Republican rather than a Federalist. States rights, negative sentiment towards Federal authority over the states, and the assertion that this expansion of Federal power is a step towards tyranny, are all opinions typical of a Democratic Republican, not a Federalist. This clearly suggests that not all Federalists were loose interpreters of the constitution since states rights is an argument usually made by someone advocating for a strict interpretation of the Constitution. – It would appear that this speech was relatively pointless to affect the conflict at hand considering that the war of 1812 (Mr. Madison’s war as dubbed by Federalists) was only fought for a few more weeks before it was officially concluded. – Federalists were quite against this war with Britain which could mean that Webster could have come to this argument more out of anger over the war than actual ideals. – It is interesting that the measure Webster is referring to took place in 1814 considering that the Democratic-Republicans, who would have been against drafting militiamen into the national army, controlled the Congress, Senate, and the White House. -1814 was the last year that Federalists had a major role in Congress given their attempt to secede from the union in 1815 in the Hartford Convention. The report and resolutions of the Hartford Convention serves to demonstrate how Federalists did support a loose interpretation of the constitution. In the resolution the participants (of whom many were Federalists) proposed that several amendments to the constitution be adopted by the states. While this may seem fairly insignificant the fact that they were trying to conform state laws to national law shows a very strong leaning towards Federal authority over state authority. This was very much in line with Federalist principles and loose interpretations of the constitution since they are proposing three changes to several state constitutions. The Federalists are taking a stance against state rights which are guaranteed in the  constitution and requesting that the states conform to federal law which can be seen as a rather loose interpretation given that powers not afforded to the national government are given to the states by the tenth amendment. -The three proposed amendments seem to inhibit the power of the government which is more in line with Democratic-Republican ideals, which could suggest that this was meant to gain bipartisan support in the states. – The Hartford Convention was also famous for being the unofficial demise of the Federalist party considering that the resolutions also threatened to declare New England independent from the union if the government did not comply which the largely Democratic-Republican populated nation viewed as treasonous. – One of the amendments proposed made it illegal to enforce an embargo for longer than 60 days which is interesting considering that leading up to the war with Britain, many Federalists were advocating ignoring the embargo on Britain. – Although the Democratic-Republicans controlled Congress, the Senate, and the presidency prior to the Hartford Convention, the negative reaction to the resolutions layed out by the Hartford Convention ensured what could be described as a near one party rule for the Democratic-Republicans through the mid 1800’s. One Final Document that would serve to demonstrate how there was a large grey area in how Democratic-Republicans and Federalists interpreted the Constitution is actually another speech made by John Randolph in 1816 before Congress. Randolph himself was a very strict interpreter of the constitution but what makes this speech interesting is who he is calling out in this speech and why. â€Å"We have another proof that the present government (the Madison administration) have renounced the true Republican principles of Jefferson’s administration on which they raised themselves to power†¦Ã¢â‚¬ . Randolph is calling out the Democratic-Republican president James Madison, for â€Å"renouncing† the policies laid out by Thomas Jefferson who is seen as  the establisher of many of the ideals of the Democratic Republican Party. Madison is accused of â€Å"aggravating the burdens of the people for the purpose of favoring the manufacturers†¦Ã¢â‚¬ . Essentially he is being called out for raising taxes on the middle class. Why this demonstrates how Democratic Republicans could have taken a loose interpretation to the constitution is because raising taxes is something that many Democratic-Republicans believed to be a state by state issue even though the Constitution gives the government the power to levy taxes. However Madison is going against that ideal and raising the national tax rate which given the Democratic-Republican interpretation of only allowing states to raise taxes, is a very loose interpretation. -Madison was known to have changed his opinion on these matters several times as a politician which could explain why he was raising taxes. -Randolph also linked Madison to John Adams who was also a loose interpreter of the constitution and rather unpopular amongst the Democratic-Republicans because of it. – Madison was very much influenced by Thomas Jefferson who would have definitely disapproved of raising taxes on the middle class. – Madison was the first president to preside over the â€Å"Era of Good Feelings† or the time period where the Democratic-Republicans enjoyed a near one party rule in the government. This tax would have been a very unusual interruption in the usual lack of debate and argument that was apparent in Congress and the Senate.

Persuassive speech School Uniforms Essay

Should school uniforms be required in public schools? It will increase education, and decrease on violence and the cost will be lowered. This is a question that has created debates in several different schools. Some say that school uniforms represent discipline and obedience while others say not wearing uniforms takes away from the children’s creativity and individuality. Not only does wearing uniforms teach obedience and discipline it also helps students to focus and have better grades and it cuts cost on parents. Will wearing uniforms improve education in schools? Yes wearing uniforms does improve on education. By having students wear uniforms they are more focused on their studies than what someone else has on. It has caused a less distraction because when you have students that are wearing all the new name brand clothing students are found in the classroom admiring the other peers clothes and shoes instead of focusing in the class room. So by wearing the uniforms they all have on the same thing and allow the students to focus and pay more attention in class which helps these students get better grades. When it comes to education, clothes are not quite important. According to (Thomas, S) â€Å"studies show wearing uniforms help the educational environment. It only shows unity within the student-body but as well helps students concentrate in class.† Do uniforms cut down on conflict in schools? I believe uniforms do cut down on conflict in schools. It cuts down on the competition with others in schools. Less fighting and more discipline. For instance High school and middle school students have it the worse it could be stressful trying to get all the credits you need to graduate. This is the age were they experience name brand clothing, shoes, also were the most bulling and violence comes in from gang’s and other different things. Being bullied by your appearance can be a bit overbearing. During my research I found that in the late 90’s(Pickles, L, P.) the focus of uniforms was called to action for intercity schools were violence was happing in for several differen t reasons from theft to gangs and cliques. I remember when I was in middle school and high school before uniforms were implemented there was a big issue with gangs if you wore the wrong color  (red or Blue) you were approached by these members. So going to uniforms were they all having the same color top and bottoms solved a lot of that violence. Then there comes the bulling and teasing of other students who are less fortunate than others. Students can be mean and messes with another student’s self-confidence because they are in a household were they have to wear hand me downs or parents can’t afford the latest brands of clothing. So by wearing uniform everyone looks alike and there is no reason for the bullying. Do uniforms cut down cost? Uniforms indeed cut down cost for families. Instead of parents having to go out and buy $50.00 pair of jeans and yes that is for one pair. Most stores have bundle sales on school uniforms. What you paid for one pair of jeans can buy you 2 uniform bottoms and 2 uniform tops a nd some places 3 or 4. Only expensive thing you worry about is shoes. Uniforms are much less expensive than traditional clothing worn by teens. Some schools provide programs where kids can receive the uniforms at little or no cost. I remember my daughter went on a filed a trip when she got home from the field trip she had a be brown paper bag in the bag was 2 uniform pants 2 shirts, a sweater, socks, a pack of underwear and many more things that were given to her in this program that was offered in her school. So there is help to get uniforms at little to no cost were you can’t get that help with regular clothing for school. By allowing school uniforms in the school, education will improve student’s success. It will enforce discipline towards learning. There will be less violence, Peer Pressure will reduce because there will be less distraction on what everyone else has on. However some people feel that wearing the uniforms takes away from a student’s individuality students are still encouraged to be creative. Students tend to alter their uniform with jewelry. But we have to remember the most important thing school is a place for our children to learn not to flaunt wealth and fashion. We have to decide as a society if individual expression is more important than an improved violent free educational performance. I’m like most parents uniforms can be worn during school and they can express there individuality outside the class room when it comes to dressing. References 1. Uniforms in the Schools: Proponents Say It Cuts Competition; Others Thomas, S. (1994, October 20). Uniforms in the Schools: Proponents Say It Cuts Competition; Others. Black Issues In Higher Education, PG, Retrieved from http://elibrary.bigchalk.com.prx-anthem.lirn.net 2. Mandating school uniforms at all grades Pickles, L, P. (2000, December 01). Mandating school uniforms at all grades. School Administrator, (11), 51, Retrieved from http://elibrary.bigchalk.com.prx-anthem.lirn.net

Hexenverfolgung und die Bußßag Daniel Bittels von 1629

Hexenverfolgung und die Bußßag Daniel Bittels von 1629 Free Online Research Papers Hexenverfolgung und die „Bußßagâ€Å" Daniel Bittels von 1629 Frà ¼he Hexenverurteilungen gab es schon im 13. Jahrhundert mit dem Entstehen der Inqui-sition, die sich jedoch eigentlich gegen Ketzer richtete. Die theologische Akzeptanz der Existenz von Teufel und Dmonen, die sich erst im Verlauf des Mittelalters gebildet hatte, war jedoch schon ausgeprgt. Hexerei per se war aus Sicht der Kirche kein so gravierendes Vergehen wie andere Ketzereien. So wies Papst Alexander IV. 1260 zum Beispiel die In-quisitoren an, Hexen nicht aktiv zu verfolgen und ihre Prozesse bei Zeitmangel zurà ¼ckzu-stellen, da die Bekmpfung der Ketzer im Vordergrund zu stehen hatte. Die europische Hexenverfolgung, die meist von 1450 bis 1750 datiert wird, ereignete sich in grà ¶ÃƒÅ¸erem Umfang erst in der Frà ¼hen Neuzeit und, nicht nur im Bamberger Raum, vor allem zu Zeiten des Dreißigjhrigen Kriegs. Man kà ¶nnte sagen, dass eine Art Hysterie be-zà ¼glich Zauberei entstand, welche auch juristisch aufgegriffen wurde und zu Verdchtigun-gen und Denunziationen fà ¼hrte. Frà ¼hneuzeitlichen Hexentheoretikern zufolge waren die wichtigsten Merkmale einer Hexe der Hexenflug, der Schadenszauber und das Treffen, der Pakt und der Geschlechtsverkehr mit dem Teufel. Frauen galten als besonders leicht vom Teufel zu verfà ¼hren, was dazu fà ¼hrte, dass der Großteil der Opfer von Hexenprozessen Frauen waren. Bis heute findet dies in der stets weiblichen Hexe seinen Ausdruck. Ungeachtet dessen, waren jedoch auch Mnner auf der Anklagebank. Wichtig war vor allem die Verbreitung der Idee einer allge-meinen Verschwà ¶rung der Hexen und des Teufels, die die Existenz der Kirche bedroht und gegen die vorgegangen werden muss. Die neuere Forschung geht davon aus, dass vor allem dieser Aspekt des Ausrottens des Bà ¶sen in der Gesellschaft bei den handelnden Akteuren der Hexenverfolgung im Vordergrund stand. In Bamberg war die Hexenlehre zwar bekannt, wurde jedoch lange nicht angewendet. Nur vereinzelt lassen sich Prozesse finden, in denen konkret ein Bezug des Tters zum Teufel genannt wird. Viele Flle lassen sich jedoch finden, bei denen es sich um simple Verfahren wegen Zauberei handelte und die Strafe auch deutlich geringer ausfiel, als bei „normalenâ€Å" Hexenprozessen. Noch 1625, kurz vor der großen Welle der bamberger Hexenprozesse, lassen sich derart milde Flle finden. Erst so spt – der Hexenhammer ist seit dem ausgeh-enden 15. Jahrhundert bekannt – wurde die theoretische Grundlage in juristische Praxis umgesetzt. Ein Faktor, der in Bamberg zur Hexenverfolgung fà ¼hrte, war die kleine Eiszeit, die die Ernten vernichtete und die Bevà ¶lkerung deswegen nach Sà ¼ndenbà ¶cken, aber auch viele Zuflucht bei Zauberern und Hexen suchen ließ. Ein weiterer, womà ¶glich wichtigerer Faktor ist die hà ¶here Empfindlichkeit der Behà ¶rden gegenà ¼ber Hexerei durch die aufkom-mende Zielsetzung, „eine nach Gottes Geboten lebende Gesellschaft zu schaffenâ€Å", wie Dippold es umschreibt. Hexenprozesse fanden in Bamberg massenweise ab1626 statt. Schon in den ersten drei Jahren gab es rund 600 Opfer von Hexenprozessen. Meist unter Folter zwang man den Angeklagten ein Gestndnis ab, worin sie schilderten wie sie vom Teufel verfà ¼hrt worden waren und außerdem die Namen anderer Hexen zu nennen hatten, da diese sich ja der Lehre nach zum Hexensabbat zusammenfanden. Oft wurden à ¼ber so im Gestndnis genannte Personen Dossiers angelegt und Nachforschungen angestellt. Mehr-malige Nennung bei derartigen Verhà ¶ren konnte selbst fà ¼r angesehene Persà ¶nlichkeiten einen eigenen Prozess mit Gefangenschaft und Folter bedeuten. Der Verdacht auf Hexerei war ein besonderer. Verteidiger wurden nicht zugelassen und Rechte des Angeklagten aus-ser Kraft gesetzt. Oft reichten wage Indizien, um mit der Folter zu beginnen. Erst mit den nahenden s chwedischen Truppen, die die Stadt 1632 eroberten, endete die Hexenverfol-gung. Vor diesem Hintergrund ist nun der vorliegende Text eines Gestndnisses von 1629 zu betrachten. Der Prozess geschah wohl auch hier im Gegensatz zur Inquisition vor einem weltlichen Gericht und vermutlich aufgrund von Denunziationen und Nennung in anderen Gestndnissen. Daniel Bittel, ein 14 Jahre alter Junge aus Bamberg, wurde am 11. und nochmals am 22. Mai 1629 wegen des Vorwurfs der Hexerei befragt und gefoltert. Nach der Folter durch den Daumenstock gestand er, ein Trudner (Hexer, Teufelsbà ¼ndner) und großer Sà ¼nder zu sein sowie seine achtjhrige Schwester begehrt zu haben. Daraufhin wurde er durch Beinschrau-ben gefoltert und gestand schließlich, durch seine Schwester, mit welcher er den Inzest vollzogen und diese sich danach in eine „heßliche gestalltâ€Å" mit Drachenkà ¶rper verwandelt habe, zur Hexerei verfà ¼hrt worden zu sein. Durch die Drohung, ihn umzubringen, habe diese Gestalt ihn dazu gebracht, Gott zu entsagen. Einige Tage spter sei er bei „glà ¼ck ins teufelsnahmenâ€Å" von der Hexe getauft worden und habe seitdem oft zusammen mit seiner Buhlin und der Hexe nachts zu schwarzen Messen „außfahrenâ€Å" mà ¼ssen. Das Gestndnis nennt nun immer wieder Namen, die Daniel Bittel bei diversen Messe n, die auch datiert und lokalisiert werden, gesehen haben will. Weiter gestand er, dass ihm zu Beginn der Befragung und schon im Kerker der „bà ¶este Feindtâ€Å" (Teufel) erschienen sei und ihm Mut zugesprochen habe. Außerdem habe er, wenn er Hostien zu sich nahm, diese zerkauen und ausspucken mà ¼ssen, was er bei der Kommunion auch getan habe. In seinem zweiten Verhà ¶r am 22. Mai 1629 nannte er weitere Daten und Orte, vor allem jedoch die Namen von Teil-nehmern von „solchen teà ¼flischen Dentzen nchtlicher weilâ€Å", die er dort gesehen haben will. Die wichtigsten Bestandteile des Gestndnisses sind das erzwungene Gestndnis an sich, in dem Daniel Bittel Handlungen zugibt, die den Merkmalen der Hexerei und Teufelspak-tierung entsprechen, wie die Verfà ¼hrung durch den Teufel in Gestalt seiner Schwester, die schwarze Taufe und die schwarzen Messen, und die erzwungene Nennung der Namen anderer angeblicher Hexen und Hexer, wodurch die Behà ¶rden à ¼blicherweise weitere Mit-glieder der vermeintlichen Hexenverschwà ¶rung zu identifizierten. Wie wichtig eine solche Identifikation war, zeigt auch die Tatsache, dass das Protokoll des zweiten Verhà ¶rs fast ausschließlich andere Hexen und Teufelspaktierer festhlt. Es bleibt – wenn ihn keine weiteren Dokumente nennen – zwar der Spekulation à ¼berlassen, was mit Daniel Bittel nach den Verhà ¶ren passiert ist, man kann jedoch davon auszugehen, dass er zum Tode verurteilt und hingerichtet wurde, da er geringstenfalls Inzucht, Hostienschndung und Gotteslste-rung zugegeb en hatte. Reference: bamberga.de/hexenverhoer_daniel_bittl.htm Research Papers on Hexenverfolgung und die „Bußßagâ€Å" Daniel Bittels von 1629Analysis Of A Cosmetics AdvertisementStandardized TestingHonest Iagos Truth through DeceptionThe Masque of the Red Death Room meaningsHarry Potter and the Deathly Hallows EssayLifes What IfsThe Spring and AutumnAnalysis of Ebay Expanding into AsiaEffects of Television Violence on ChildrenThe Project Managment Office System

What are the Marketing Strategies The WritePass Journal

What are the Marketing Strategies What are the Marketing Strategies What is Marketing?Segmentation of Market:Balance Scorecard:Marketing Mix:Marketing Strategies:Porter, a simple strategy:Innovation strategy:Strategic Models:1-Market Drivers:2. Awareness of brand valuation:3. Dare the efficient market hypothesis:4. The investor sector treats as customer:5. Analyzing the analysts:Related What is Marketing? The supply of products and services of high quality is the relationship between the company and its customers to use management as a marketing tool. Consumer products and services of the Organization of force and focus on quality and a different style depending on product type and product promotion and marketing of products / services for visitors and a strategic plan based on planning. Segmentation of Market: Retail marketing strategy for each of the areas, and create an organization based on the quality it provides. This requires an understanding of customer needs in each region, so the product quality improvement and service sector development needs to be able to deal with the organization. Strategies of marketing of various techniques and strategies to overcome the competitors planning. Balance Scorecard: Balance scorecard has a huge used of management to assess the overall performance and to check the three key areas; the first one is customer retention rate, on the other hand, satisfaction of user and finally profitability share. Marketing Mix: The marketing mix indicates that most of the focus on the promotion of education and distribution of products, promotion, however. Thus, can the relative influence of these studies do not provide insight into mouth marketing and risk of suffering a variable? The variable bias firm cannot be linked to strategy matter. At the level of relevant personal interview with Iran Research on various consumer packaged goods managers Companies focus on the coverage of similar relax in the field of research and advertising industry. The director on whether the interest in trust, this means that the product is the original error distribution performance played a big brand. Accordingly to the question, How can impact of brand marketing mix fairly for long time? It was a high priority to research Marketing Science 1988 (for example, marketing in the company after Science Institute, 2008). One reason of this question was around for a long time. There is a need to respond to this combination extensive data and method that can be measuring the effects on long-term deal with the ordinary experimental modelling challenges. Marketing Strategies: Marketing strategies work as the mainstay of the market to fill the needs of the market and marketing plans designed to reach the goals. Plans and objectives are usually measured by test results Overall, the plan multi-year marketing strategy as a strategy based on specific steps to complete the current year plan with the details.  Time horizon, according to a marketing plan vary from one company, by industry, and the United Nations, however, the time horizon over climate change and the speed is small Marketing strategies and a dynamic and modern.  Bush plans to partially random and partially. Marketing strategy of internal and external environment shows the summary of SWOT analysis survey. Internal environmental factors are use in the marketing mix, as well as performance analysis and include reduction strategy. Environmental externalities and analysis of customers, competition, and target market analysis with the analysis of technological, economic, cultural or political / legal environment impact is likely to succeed, including a set of elements. An important part of marketing strategy in many cases is the companys mission statement to keep in line with the mass marketing. Once you have an integrated environment, and develop a strategic action plan to identify options, the aim of the challenge, the maximum of the marketing mix to achieve these goals, and are evaluated in detail the construction process can scan. To develop a strategy for marketing and development, the final step in a series of contingency plans in case of problems that arise in this process to monitor the project. Marketing can develop a strategy unique work and one disagrees about. However, a common strategy aimed at a number of ways. Schemes listed below and a brief description of the most common classification. Strategy always based on market position in the chart, and classified companies in market share, or the basis of the dominance of the industry. There are usually four types of strategy to dominate the market. ï‚ §Leader ï‚ §Challenger ï‚ §Follower Porter, a simple strategy: It is use as the strategic capabilities and strategic dimension of strategic power. Scope of the strategy refers to the market penetration while strategic strength refers to a strong competitive advantage sustainable. Common strategic framework (Porter 1984) with two ranges of alternative includes two alternatives. This is the difference between the low-cost leadership focus and dimension and wide or narrow is with all of them. ï‚ §Product differentiation: ï‚ §Cost leadership: ï‚ §Market segmentation: Innovation strategy: New product development and innovation business model that deals with the rate of the company. Ask that whether of the company was on the cutting edge of technology and business innovation. Strategic Models: Most of the participant’s arkytng models marketing strategy and the tools necessary to analyze the employees decision. Begins with strategic analysis, strategic environment can be used to achieve a comprehensive understanding. As off Matrix and the one often mix the marketing strategy used to identify sites of expression. It can be used to explain the marketing strategy 4ps for planning ahead. Many companies, particularly in the area of consumer goods package (CPG) market that the buyer business customers and retailer focused on the need to adopt principles of operation. The marketing departments of these download time consumer spending in the targeted categories, buyers and retail partners and relevant ideas (both thinking and behaviour) identified by the search for growth opportunities. The development of opportunities and changes in market trends, and emerging the changing, dynamics of the region challenges. The 4ps can be used to check the defined strategy of the company. Internal team is also marketing the brand or operational business development opportunities and strategies so that the potential for new products or by request can include services and the beneficiaries to start preparing for the same priority can be changed 7Ps. The managers always use the method of perception and experience to handle and exclusive situations in their day to day business. A consumer who uses the osmosis knowledge can easily judge the marketing employed. The main purpose of the marketing budget is to focus to enhance the value of the firm, but on the other side of this concept is the stock price usually fluctuates. This stock price fluctuation is the result of increase in financial revenue. Due to the above measurements marketing expenditure can affect the marketing investment in a long term. The market base asset depends upon the market action to market place outcomes, which can attain from the exploring relationships. To explore and define these issues, a small group introduce a five key elements areas. 1-Market Drivers: It defines that to get information regarding stock price of main customers, brand and marketing assessment? How can you define the relationship of short-range versus long-run group performance? The market based elements should be on the both sides. 2. Awareness of brand valuation: There is different methodologies use for the valuation of brand but still it’s questionable that wither the brand has ability to capture the market share or it faces the negative response. The brand directly affects the level of each activity such as cash flows, risk elements, growth and cost of risk capital. 3. Dare the efficient market hypothesis: It is being observe that the market base on the assumptions and strategies which focus mainly on the segmentation and differentiation which all cause the market imperfect. The results of all the above activities can be judge through the positive results inform of retention of customers and positive stock returns etc. 4. The investor sector treats as customer: While communicate the investor community it’s important to evaluate that the right community is being address. The major focus should be on the activities that the companies present themselves in a way so that they can get the major share of the investor’s market. 5. Analyzing the analysts: The recommendation of an analyst will be suitable for the business organisation in order to brand equity and the most important that the analyst closely observe the market events or not because it directly effects the prices of a products. A firm worth can be measured by analysis of its cash flows as well as growth and risk link with the future cash flows. The market performance could be examined through the following relationship: Market based assets: It consists of brand, customers, innovations and channels. It seems that they have not value but they have a sound impact over the market. Marketing capabilities: Market orientation and expertise places a major role in perfect utilised use of resources. Marketing actions: Market action based on strategy development and extension of business models that leverage marketing assets and capabilities. MODES OF ENGAGEMENT FOR CRITICAL MARKETING AND THE MAINSTREAM: There are three possible types of engagement the oppositional mode, the revivalist mode and the therapeutic mode. 1- Oppositional: This situation against key marketing and acting dialectically with the mainstream  a separate alternative and present themselves discipline approach and marketing. This Reference is to submit their methods distinct from the development of critical infrastructure,  awareness base, vocabulary, etc., and the various major networks, conferences,  Magazines, in opposition to the dominant people, and so on.  The goal is to establish  Alternative agenda, marketing, and the prevailing philosophy is based on strength and attacks her  Institutions and more than willing to take. The network marketing will separate the principal and other educational institutions as a focal,  Development of the theory and methods, research and education centre for programs,  Anti attract scientists and ideas that have proven effective are ready to attack and change  Prevailing. 2- Revivalist: This important project is busy with the mainstream and to encourage  his methods of investigating the original and important educational values and the return of a doubt.   Evidence of the time on the basis of marketing power lost the original harmonies and creativity, this was counterbalanced by a healthy suspicion and criticism  fixed ideas.  Instead of, in these days, through the knowledge of the Supreme  transmission, the recipient is limited to receive texts become ossified in Philosophy of Kotler is to  managerial skills to take, as set out below as  status the direction of the search method. 3- Therapeutic: This approach as a sign of mainstream marketing ideas, the philosophy of group and marketing power of knowledge in education, social and economic relations (System (1999 Wilmot). Demystify and democratize the importance of the role of marketing. Marketing knowledge and wean direction away from the mainstream to help fetishism marketing techniques and texts. Conclusion: According to our global environment business it is not tough to makes a very popular to your business and to enhance it according to your desire over the world. Today a firm cannot get success without develop a progressive business strategy that can provide a strategic fit between its resources and to change the business strategy. In this case study, you can get the ideas regarding to Literature review by using a long range of strategies based on the market mix and market drivers to achieve organizational goals. The strategies should be build as customer friendly and to help the customer through continuing the services to Independent business owners, members and Clients.

9 tips for handling difficult customers

9 tips for handling difficult customers Every business, in every sector, in every industry, is filled with difficult clients or customers who make doing your job 10 times harder than it has to be. After a long day of work, it can be enough to make you rage out†¦ or crumple into a ball and weep. When you feel like you’re going to lose it, try these 9 helpful strategies instead. 1. Show how well you can listen.You know they’re totally in the wrong, but they don’t understand that yet. They’ve got the situation or the facts all incorrect and you just can’t bear to hear them rehash details that don’t make sense. All they hear from your impatience is that they’re not being heard. Try just letting them get it all out. Listen patiently to what they have to say. Let them vent. It will help you set them straight if you understand their position better first and if they feel like you’ve been paying attention.2. Show empathy.Forget for a second that this person is rude, mean , and wrong. Whatever their problem, they really want you to understand and help them. Repeat back what you hear as the major issue. Express your genuine regret that they’re having a rough time, and show an honest willingness to help. Even if you have to fake it, use eye contact, body language, and verbal cues to show you care and are engaged. Don’t talk over your customer- this just feels like a power play. Let them finish first.3. Talk slower and sweeter.Just because your customer raises his or her voice doesn’t mean you have to respond in kind. Lower your voice and slow your speech down. The calming effect can be immense. You can still be firm- the last thing you want to do is show your fear. But try to inspire the client to relax just with the way you’re speaking.4. Look for nuance.Is their ire coming at you from a place of anger, anxiety, annoyance, or frustration? Getting a more specific sense of where their wrath originates can help you figure out how to tackle neutralizing it. Look at the situation from their point of view and try to figure out what may have triggered their (over)reaction. See if there’s anything you can accept blame for or fix easily, and start with that.5. Imagine you have an audience.If you’re having a hard time keeping your cool, just imagine you’re not alone. Rather, pretend you’re in a room full of clients or customers. Imagine this audience of people is judging your company on your merits as a problem solver. Keep the tone confident and cool. Playing this trick on yourself is a great way to stay professional and courteous, even when you want to scream.6. Find your foothold.Is there anything, in your customer’s tirade that makes a little bit of sense? Look for something you can work with- break down the rant into manageable, actionable chunks and talk your customer through those. Finding even one thing you can solve immediately, however small, can really diffuse a sit uation and make a customer feel heard and respected.7. Pretend to be wrong.If you flip the tables and start agreeing with everything your customer says to the point of taking all the blame upon your shoulders (where it doesn’t belong), you might just find the customer will soften and start saying things like, â€Å"Well, I understand it’s not your fault.† It’s a bit of a hit-or-miss strategy, but can be super effective in certain situations.8. Give them a parting gift.Your biggest goal as a liaison for your company is to repair the relationship. See if you can give your customer a voucher or a bonus discount of some kind- anything to make them feel they’ve â€Å"won.†9. Don’t take it personally.At the end of the day, some customers can’t be reason with and some people are irrationally angry. It’s not about you. It’s probably not even about the company. Let it wash right off your back. Don’t take it home.

Talent Managment Process Essay Example | Topics and Well Written Essays - 500 words

Talent Managment Process - Essay Example An operational talent management is among the most valuable assets an organization can possess and if the processes associated with talent management are performed in a professional manner, it has the capacity to become the driving force of the company towards economic success. Talent management entails three main aspects that include the acquisition of talent, its development and retention once it has already been acquired (Elegbe 24). Nonetheless, numerous other sub-processes are components of talent management that include the identification of talent, its sourcing and evaluation among others. In the cases where the management of talent is implemented in the proper manner, strategic effects can be seen all over the company and an appropriate talent management entails more than merely attracting, nurturing and retaining the employees who are talented. Human resource functions as a framework for a number of specialty well-designed areas in regard to expertise which require proper appreciation and discipline. In most of the cases, these well-designed areas are considered to include workforce and succession planning, the management of performances as well as compensating and giving benefits to the employees who perform exceptionally. In order to be able to manage talent in an efficient and effective manner, all these aspects have to be consolidated fully and they must work together in a smooth manner. In the initial stages, workforce and succession planning maps out the path for future talent requirements by quantity and qualifying requirements in accordance to the strategy of the company. On the hand, management is tasked with the delivery of an overview if the talent that is already in existence while talent acquisition and recruitment is supposed to make sure that the identified gaps has been closed as far as the talent map is co ncerned. Overall, the

Ask ls week 2 Essay Example | Topics and Well Written Essays - 250 words

Ask ls week 2 - Essay Example These include a person, as a researcher, and other stakeholders. What are some of the things one ought to have or consider when conducting such a research? One of the most common challenges when conduction a research is personal bias which might for example in this case be attributed to the fact that the researcher had participated in previous financial services projects. In this regard, what are some ways of ensuring such bias does not affect the outcome of your research? One of the key considerations to have when conducting a research is knowledge of your chosen area of research. According to you, do you think such previous knowledge and involvement in your area of research could be of any advantage when conducting a research? If yes why and how? In order to have effective research outcomes, the researcher has to have some research skills (Coghlan and Brannick 2010). What are some of the skills that are required to have, and especially in relation to the current study? It is evident that your AR research would be faced by many challenges, more so because it involves your organization as an, AR manager and that the people to incorporate in your research are your junior officers (Greenwood and Levin 2007). In this regard, what are some of the challenges that you may encounter during your research? And how would you overcome such challenges? Having indentified the problem of women officers not progressing to management ranks at KNBS may draw some mixed reactions and especially from male counterparts. In fact, your research may be influenced by some bias and especially when dealing with gender issues (Coghlan and Brannick 2010). What are some of the research techniques required in order to avoid such bias? Before one initialises a research, there must be a motive behind the research. What are some of the issues that instigate a research? What are some of the things to consider when starting a research

BHS 414 Cross Cultural Health Perspectives (Mod 3 SLP) Essay

BHS 414 Cross Cultural Health Perspectives (Mod 3 SLP) - Essay Example come and the complications showed that Female Circumcision does not provide significant positive hygienic and attitude changes expected by the culture. Instead it calls many complications such as infections, deaths, chronic pain and obstructions in the urinary tract. Further it was proved that some women increase the sexual sensitivity after the process. Reveling of these findings might change the behavior in societies that are much open to the world, but do a little to the societies with are not open. ( Ferguson, 1995) Some countries allow to perform female circumcision only by a qualified person or a doctor with anesthesia where the complications are relatively low and generally safe. This provides cultural requirements while reaching the objectives of health care by limiting illegal unsafe procedures which violates human rights. However this has a problem with human rights. Women who refuse female circumcision might have been forced do it since they are not protected by the law. Many of these communities have deep-rooted strong justifications on the advantages of the female circumcision. (Gruenbaum, 2001). Although they are not agreed with modern medical and health practices they bend facts to match with what they believe which makes someone stand for it. Some of justifications are as follows: Women who have undergone circumcision are considered as spiritual and are given higher recognition in political and cultural context. This is why women in countries where the female circumcision is legally banned still chose to undergo the

Leadership Case Study Essay Example | Topics and Well Written Essays - 500 words - 1

Leadership Case Study - Essay Example Knight’s leadership style was passionate and demanding. His approach to the game generated a superfluous list of accomplishments and controversies. Knight was more about intensity where he intensified on everything he does. He compassionated to complete and win any game. Mike Krzyzewski was a coach at Duke University. Mike had a good leadership since the students did not believe when had a contract of leaving Duke to be a coach in Los Angeles Lakers. It was a great negative impact to the Duke’s basketball program and at his presence it ranged as most successful sport dynasty (Brill, 2012). Coach K applied one rule that any player should not do anything that can cause detrimental because it can also affect the Duke’s basketball program. He usually stated that it was not his desires to be a dictator or a manager, but a good leader, which is ongoing, flexible, adjustable and dynamic. Both of the coaches had disciplinary actions to their players through investing heavily in skills and drills, exhaustively analyzing game films, practices and strategies and practicing the set plays. Both of the coaches a good relationship with their basketball players because they were trusted and had more influence to them. Conclusively, for a person to be a good leader is a matter of choice, but not set rules or conditions. Situational Leadership II is both a structure for employee and business language development that surpasses linguistic, geographical and cultural boundaries. The model helps the leaders to diagnose the requirements of a team or individual in order to use the suitable leadership style in responding the person’s needs. The Situational Leadership II model uses game-changing methods that submerge learners in SLII deeply, quickly and effectively. Leadership is a process that involves motivation of employees or players. The leaders are supposed to influence the members in

706 week 13 Assignment Example | Topics and Well Written Essays - 250 words

706 week 13 - Assignment Example Some factors, however, cannot be measured or observed and this means inability to use evidence and data. Consequently, tuning in to the edge and intuition that offers a better understanding of factors for informed decisions is necessary. Tuning to the edge and intuition also offer a deeper understanding of the factors and integrating them with evidence and data that often identify relationships and their significance offers strong base for decision-making (Kerfoot, 2005). Turning to the edge and intuition, unlike sole reliance on evidence and data, also allows for generation of the ‘dissenters’ that are necessary for effective decisions (Pittman, 2013). Intuition played a role in my professional life when I identified unusual behavior in a colleague. His attitude had suddenly changed and he appeared stressed up. I imagined possible effects of his condition on his practice realized that he a risk to his patients through mistakes in care delivery. I decided to talk to him about his condition and convinced him into attending a counseling session. He later confessed the possibility of administering wrong medication during that period in which he was depressed. A possible dissenting voice to my project is that a free environment, in which practitioners enjoy autonomy over their approaches to care instead of such regulations as JNC guidelines, promotes creativity and can lead to better health outcomes. Need for tuning to the edge and intuition as well as dissenter concept could trigger opposition. Pittman, B. (2013). Bob Pittman of clear channel, on the value of dissent. The New York Times. retrieved from:

Leadership Case Study Essay Example | Topics and Well Written Essays - 500 words - 1

Leadership Case Study - Essay Example Knight’s leadership style was passionate and demanding. His approach to the game generated a superfluous list of accomplishments and controversies. Knight was more about intensity where he intensified on everything he does. He compassionated to complete and win any game. Mike Krzyzewski was a coach at Duke University. Mike had a good leadership since the students did not believe when had a contract of leaving Duke to be a coach in Los Angeles Lakers. It was a great negative impact to the Duke’s basketball program and at his presence it ranged as most successful sport dynasty (Brill, 2012). Coach K applied one rule that any player should not do anything that can cause detrimental because it can also affect the Duke’s basketball program. He usually stated that it was not his desires to be a dictator or a manager, but a good leader, which is ongoing, flexible, adjustable and dynamic. Both of the coaches had disciplinary actions to their players through investing heavily in skills and drills, exhaustively analyzing game films, practices and strategies and practicing the set plays. Both of the coaches a good relationship with their basketball players because they were trusted and had more influence to them. Conclusively, for a person to be a good leader is a matter of choice, but not set rules or conditions. Situational Leadership II is both a structure for employee and business language development that surpasses linguistic, geographical and cultural boundaries. The model helps the leaders to diagnose the requirements of a team or individual in order to use the suitable leadership style in responding the person’s needs. The Situational Leadership II model uses game-changing methods that submerge learners in SLII deeply, quickly and effectively. Leadership is a process that involves motivation of employees or players. The leaders are supposed to influence the members in

Week 3 Case Study 1 Submission Example | Topics and Well Written Essays - 750 words

Week 3 1 Submission - Case Study Example This always occurs in many ways; it boiled down to workers preferring to use their technology in all scenarios. The smartphone or tablet travel with the worker in all places he goes, whether at the working station or not. Employees can have access to their mail, contacts, and the Internet. (Caris, Steven, & Ken, 2012).Therefore, this would in turn raise productivity by allowing organization workers to perform their function in any place they want. When an employee can have access to the corporation network from his or her personal laptop, they might have limitless working schedule. Scholars have found that employees have a tendency of working longer hours when they work from their premises. They can easily log on to their corporate email account or other apps over the weekends or in evenings. In some circumstances, employees would work for an additional 5 to 10 hours per week if they work from where they live(Romer, 2014). In addition, to meet employees’satisfaction, BYOD can assist an organization to attract and support upcoming talents. BOYD provides flexibility, especially when combined with work-from-home opportunities can be a main marketing point for a company wishing to recruit new employees. This will allow the company to lure applicants who are best to suit for and have excitement about the job, rather than those who are just willing to settle. It would be important to implement BOYD in an organization because instead of spending a lot of organization’s resources in setting infrastructure, the opportunity of saving the resources is provided by bringing your device (BYOD). BYOD ensures these resources are utilized, and no time is invested in infrastructure (Romer, 2014). The data might be contaminated. Recently, an employee vacation snaps would be stored on a smartphone that is also used at working place. The photographs and other data are stored using the same phone storage with business data. Therefore, combination

A key choice writers Essay Example for Free

A key choice writers Essay A key choice writers make is how they name or refer to characters in their stories. Write about the significance of the choices writers have made in naming or referring to their characters in the three texts you have studies. In the three texts I have studies the writers all name and refer to their characters in different ways. For example in The Road the characters are not given names and in Small Island all the characters are named and referred to in detail. Firstly mc McCarthy doesn’t give his characters names throughout his narrative he only refers to them as, the man, â€Å"papa† and the boy which shows they are father and son and that is all the detail McCarthy reveals. The significance of this is to create the effect that this dystopia they live in could happen to absolutely anyone. McCarthy has also done this to create a statement that names are no longer important since the world has ended and all civilisations have been wiped out. The only important this is surviving. McCarthy mentions the boy was born into the post apocalypse s so maybe the boy hasn’t even been given a name through the fact he doesn’t need one since there is no civilisation and there is a nil chance of survival, therefore there is no one to give your name to. McCarthy could also be revealing that maybe the parents didn’t think it was important in naming the boy because they wouldn’t survive. In Small Island Levy names her characters very stereotypically through their personalities. Queenies christened name is Victoria â€Å"I was christened victoria† like the late queen, but forever been called Queenie, which is what her mother wanted to christen her as but the vicar wouldn’t allow it as it was a common name so he suggested Victoria. Levy chose this name as it reflects Queenies character very well as she is very well mannered and â€Å"posh† like the queen. Gilberts name reveals that he is half white through the fact that Gilbert Joseph is a common white man name. Levy also reveals that his father is white by referring his to as â€Å"light skinned†. Hortense’s name reveals that she is not English however it also reveals that she is wealthy and higher class through the fact that Hortense is a French name which automatically stereotypically reveals Hortense’s character is going to be higher class which she is. Levy also refers to her characters in racist ways by addressing and describing the black characters as â€Å"darkies† and â€Å"niggers† the significance of this is to show when the novel was set â€Å"1948† when being racist was common and most English people were, in which Levy has took advantage of to make her narrative realistic. Finally in Rossetti’s poetry, Rossetti refers to men in different negative ways. For example in Goblin Market Rossetti refers men to a Goblins she has done this to reveal her emotions of men implying that they are all vial and evil. However, the word â€Å"Goblin† could also mean gold which could be implying that all men are rich which is true because in the 19th century it was only men who had money, so she could be implying that men are rare and rich. However, still men in Rossetti’s poems are shown to be negative which is interoperating that wealth isn’t all that good. Rossetti also gives her characters common names such as â€Å"Maude Clare†, â€Å"Laura† and â€Å"Lizzie† the significance of this is to make her poems still mysterious and open for interpretations which she does in all of her poems. Rossetti also refers to her characters through social class and skin tone she does this as it was a main importance in the 19th century. To compare all the writers I have studies both Levy and Rossetti refer and name their characters through social class in some way. However, McCarthy doesn’t mention social class or interpratate it in any way. He has done this because there is no longer any social class unlike in when Small Island and Rossetti’s when it was highly mentioned with the time they are set in. In conclusion in all the texts I have studied the writers all texts I have studied the writers all name their characters in different ways for different significance and to create different effects to their narratives. But also to affect the reader differently for example McCarthy doesn’t give names to his characters to give the narrative lack of information as it could be happen to anyone but also to give the reader no emotional connection to the novel.

The Maternity Leave Benefits

The Maternity Leave Benefits The governments of every high-income economy in the world take measures to support parents in their efforts to care for newborn children. These policies reflect the national interest in promoting the health and well-being of infants and young children as well as societys recognition that the first months and years of a childs life require substantial and sustained attention from parents. THE LEGAL BACKGROUND OF MATERNITY LEAVE BENEFITS IN THE PHILIPPINES The words of the law itself, as guaranteed and embodied in no less than the highest and fundamental law of the land, affords utmost protection and safety to women, taking into high consideration their maternal functions. The exact provision avowingto such intention can be found in Article XIII, Section 14 of the 1987 Philippine Constitution  [2]  , which states that: Section 14. The State shall protect working women by providing safe and healthful working conditions, taking into account their maternal functions, and such facilities and opportunities that will enhance their welfare and enable them to realize their full potential in the service of the nation. Such intent of the law is further reiterated and emphasized in the provisions of Article 133 of the Labor Code of the Philippines as it expressly recognizes the need for, and grants to women employees Maternity Leave Benefits. The exact provisions of said Article 133 are as follows: ART. 133. Maternity leave benefits.  [3]   Every employer shall grant to any pregnant woman employee who has rendered an aggregate service of at least six (6) months for the last twelve (12) months, maternity leave of at least two (2) weeks prior to the expected date of delivery and another four (4) weeks after normal delivery or abortion with full pay based on her regular or average weekly wages. The employer may require from any woman employee applying for maternity leave the production of a medical certificate stating that delivery will probably take place within two weeks. The maternity leave shall be extended without pay on account of illness medically certified to arise out of the pregnancy, delivery, abortion or miscarriage, which renders the woman unfit for work, unless she has earned unused leave credits from which such extended leave may be charged. The maternity leave provided in this Article shall be paid by the employer only for the first four (4) deliveries by a woman employee after the effectivity of this Code. Another statutory provision which further upholds the governments intent in providing women employees certain benefits in relation to the exercise of their maternal functions is Section 14-A of Republic Act No. 1161 (An Act to Create a Social Security System Providing Sickness, Unemployment, Retirement, Disability and Death Benefits for Employees), better known as the Social Security Law. It more specifically provides for the conditions on how such benefits can be availed of. Section 14-A. Maternity Leave Benefit.  [4]   A covered female employee who has paid at least three monthly maternity contributions in the twelve-month period preceding the semester of her childbirth, abortion, or miscarriage and who is currently employed shall be paid a daily maternity benefit equivalent to one hundred per cent of her present basic salary, allowances and other benefits or the cash equivalents of such benefits for sixty days subject to the following conditions: That the employee shall have notified her employer of her pregnancy and the probable date of her childbirth which notice shall be transmitted to the SSS in accordance with the rules and regulations it may provide; That the payment shall be advanced by the employer in two equal installments within thirty days from the filing of the maternity leave application; That in case of caesarean delivery, the employees shall be paid the daily maternity benefit for seventy-eight days; That payment of daily maternity benefits shall be a bar to the recovery of sickness benefits provided by this Act for the same compensable period of sixty days for the same childbirth, abortion, or miscarriage; That the maternity benefits provided under this section shall be paid only for the first four deliveries after March 13, 1973; That the SSS shall immediately reimburse the employer of one hundred per cent of the amount of maternity benefits advanced to the employee by the employer upon receipt of satisfactory proof of such payment and legality thereof; and That if an employee should give birth or suffer abortion or miscarriage without the required contributions having been remitted for her by her employer to the SSS, or without the latter having been previously notified by the employer of time of the pregnancy, the employer shall pay to the SSS damages equivalent to the benefits which said employee would otherwise have been entitled to, and the SSS shall in turn pay such amount to the employee concerned. The aforementioned provision was amended in the year 1992 by Republic Act No. 7322 entitled, An Act Increasing Maternity Benefits in Favor of Women Workers in the Private Sector, Amending for the Purpose Section 14-A of Republic Act No. 1161, as Amended, and for Other Purposes. The exact words of the law as taken from the said statute are as follows: SEC. 14-A. Maternity Leave Benefit.  [5]  -A covered female employee who has paid at least three monthly maternity contributions in the twelve-month period preceding the semester of her childbirth, abortion or miscarriage and who is currently employed shall be paid a daily maternity benefit equivalent to one hundred percent (100%) of her present basic salary, allowances and other benefits or the cash equivalent of such benefits for sixty (60) days subject to the following conditions: That the employee shall have notified her employer of her pregnancy and the probable date of her childbirth which notice shall be transmitted to the SSS in accordance with the rules and regulations it may provide; That the payment shall be advanced by the employer in two equal installments within thirty (30) days from the filing of the maternity leave application: That in case of caesarean delivery, the employee shall be paid the daily maternity benefit for seventy-eight (78) days; That payment of daily maternity benefits shall be a bar to the recovery of sickness benefits provided by this Act for the same compensable period of sixty (60) days for the same childbirth, abortion, or miscarriage; That the maternity benefits provided under this Section shall be paid only for the first four deliveries after March 13, 1973; That the SSS shall immediately reimburse the employer of one hundred percent (100%) of the amount of maternity benefits advanced to the employee by the employer upon receipt of satisfactory proof of such payment and legality thereof; and That if an employee should give birth or suffer abortion or miscarriage without the required contributions having been remitted for her by her employer to the SSS, or without the latter having been previously notified by the employer of the time of the pregnancy, the employer shall pay to the SSS damages equivalent to the benefits which said employee would otherwise have been entitled to, and the SSS shall in turn pay such amount to the employee concerned. It is necessary to point out that the maternity leave benefits granted in the aforementioned provisions are applicable only to women employees working in the private sectors. The proper and applicable statutory basis for maternity leave benefits granted to employees of the public sector is Commonwealth Act No. 647.  [6]  Such act which provides the female workforce employed in public and government offices and agencies with benefits similar to those employed in the private sector explicitly states that: SECTION 1. Married women who are permanently or temporarily appointed in the service of the Government, or in any of its branches, subdivisions, agencies, or instrumentalities, including the corporations and enterprises owned or controlled by the Government, shall, in addition to the vacation and sick leave which they may enjoy now, be entitled in case of pregnancy to a maternity leave of sixty (60) days subject to the following conditions: Permanent and regular employees who have rendered two or more years of continuous service shall be entitled to maternity leave with full pay; Permanent and regular employees who have rendered less than two years of continuous service, shall be entitled to half pay; and, Temporary employees shall be entitled to maternity leave without pay and shall be readmitted to the service at the end of their leave. No employee shall be refused readmission to the service on the ground of absence on account of maternity Awarding such benefits to women employees is unmistakably a considerate and sympathetic initiative of the Philippine government. However, there might be a necessity to look into the sufficiency of the sixty (60) days and seventy-eight (78) days of leave, periods of time for which the law providessuch leave benefit. In determining the adequacy of leave duration, it is but basic to consider (a) how long thebody needs to fully recover from delivery, either through a normal vaginal delivery or through a Caesarean birth considering that it is free from complications; and, (b) the motherly needs of a new bornchild immediately after birth. THE MODES OF CHILDBIRTH Normal Spontaneous Vaginal Delivery (NSVD) is the most common and safest mode of child delivery. It is the process wherein fetal expulsion is accomplished when the baby passes through and out of the vaginal canal. It usually requires minimal medical intervention as it is the normal and natural method that humans deliver an offspring. Naturally, due to factors such as uterine muscle stretching, hormonal changes, and placental age, the uterus is stimulated and begins to contract. Also, the babys head which puts direct pressure on the cervix causes its effacement and dilatation the process by which the cervix shortens in length and thins out while enlarging or widening the opening of the cervical canal. With the subsequent intermittent contractions of the uterus and the effacement and dilatation of the cervix, together with frequentfetalposition changes to keep the smallest diameter of the fetal head always presenting to the smallest diameter of the maternal pelvis, and with the natura l pull of gravity as well, the fetus is propelled through the birth canal and out of the mothers system.  [7]  However, in some instances and due to some abnormalities in the dynamics of childbirth, the fetus cannot efficiently and effectively propel itself out of the birth canal. In such cases, the use of assistive devices such as a vacuum or forceps is necessary to guide and draw out the child from the mothers womb safely.  [8]   It is not in all instances that a vaginal delivery or childbirth is possible. Some occurrences necessitate and require the assumption of alternative methods of childbirth. Problematic occurrences such as,(a) multiple gestation; (b)unusual fetal position and presentation in relation to the vaginal passage; (c) cephalopelvic disproportion -either the fetus is too big for the maternal passage, or the diameter of the maternal pelvic, cervical, or vaginal opening is too small for the fetus to pass;(d)a dysfunctional labor such as an ineffective uterine contraction force, uncoordinated contractions, uterine rupture, or inversion of the uterus;(e) anomalies of the placenta or the umbilical cord such as placenta succenturiata, placenta circumvallata, vasa previa, the prolapse of the umbilical cord, the presence of a two-vessel cord, and an unusual umbilical cord length; or (f) an emergency situation causing severe fetaldistress, prohibit the fetus from being born safely and normally through a vaginal delivery and are thus, among the reasons for which such alternative options need to be implemented.  [9]   A Caesarean delivery or birth is the most common alternative intervention medically advised when a Normal Spontaneous Vaginal Delivery is gravely hazardous and threatening to the mother or the child, or both. This method can also be voluntarily selected by women who do not want to go through the pain and discomfort of the normal processes oflabor and subsequently, childbirth. Caesarean Delivery is the mode of birth accomplished through an abdominal incision into the uterus. It is always slightly more hazardous than vaginal birth. But, rest assured, it is one of the safest types of surgeries and among those with few complications.  [10]  A Caesarean Section (CS) surgery is accomplished by making an incision on the abdominal area which cuts open the uterus and allow for the child to be drawn out of the mothers body. As opposed to a normal vaginal delivery where the medical team waits for the natural expulsion of the placenta, the procedure of Caesarean birth includes the manual rem oval of the placenta. Afterwhich, the internal cavity of the uterus is inspected and the membrane fragments, together withcoagulated blood components and other foreign matters are taken out before the incision is closed. The healing period of this surgical procedure is dependent on several factors including the womans general health condition, her age, nutritional status and fluid and electrolyte balance. However, a major determining aspect is the type of incision made during the operation. A Caesarean section is done by performing either a classic caesarean incision (vertical incision) or a low segment incision (transverse incision, also known as the bikini cut). Between the two aforementioned incisions, the latter is more preferred as it cuts through the non-active portion of the uterine muscle, thus, it allows for a subsequent vaginal birth of future pregnancies. Another advantage of the low segment cut is its faster healing time than a classic incision, and a decreased risk for post-delivery complications.  [11]  Due to its being surgical in nature, a Caesarean birth method usually necessitates more attention and takes a longer recovery period than that of a vaginal delivery. The postpartum, peurperium, or post-partal periodis the time after the delivery of the new born up to the full recovery of the mother wherein psychological and physiological changes occur to restore the womans mind and body to its pre-pregnant state. This progression is applicable to both vaginal delivery and Caesarean birth methods. Physiological changes in the post-partal period relate both specifically to the reproductive system and to the systemic physical condition as well. In the post-partal phase the uterus shrinks and reverts to its approximate pre-pregnancy size and position, the inner membranes and uterine lining slough off and develop into the discharge of lochia a vaginal excretion composed of blood, membrane fragments and mucus, the cervix and the vagina contract and revert to its pre-pregnancy size and diameter. All these events are encompassed in the course of involution, the hallmark process of the postpartum period. Together with involution, changes in the hormonal, circulatory, urinary, gastrointestinal, and integumentary systems also occur to entirely bring back the womans pre-pregnancy physiologic condition.In general, the immediate post-partal period for both vaginal and Caesarean modes of delivery ranges from six (6)to eight (8) weeks or more, putting into consideration that the mother does not develop any postpartum complications. Though, it must be emphasized that a womans body is not fully restored to its pre-pregnant physiology until six (6) moths after delivery.  [12]   NEEDS OF A NEW BORN CHILD During the labor and delivery process, the focus and attention fully belongs to the mother, the childbearer. Conversely, after the delivery process, such focus and attention is shifted to the new born child. Newborns undergo profound physiologic changes at the moment of birth as they are released from a warm, snug, dark, liquid-filled environment that has met all of their basic needs into a chilly, unbounded, brightly lit, gravity-based, outside world.  [13]  As the child is incapable of providing its needs, it becomes fully dependent on the caregiver who, in most instances, is the mother. In viewing the new born holistically, such needs can be classified into two categories the physiologic and the psychological necessities. Encompassed in the new born childs physical needs is: (a)the imperative need for breastfeeding -it is universally agreed that breast milk is the preferred methodof feeding a new born because it provides numerous health benefits to both the mother and the child, unless there are existing contraindications such as infant galactosemia, herpes lesions on the mothers nipples, maternal exposure to radioactive compounds, breast cancer, maternal active and untreated tuberculosis, hepatitis B or C, etc.; (b) the adherence to a feeding-on-demand scheme a new born child should be fed anytime, most preferably breastfed, whenever such is demanded; (c) the observance of a consistent sleeping pattern a newborn sleeps an average of sixteen (16) of every twenty-four (24)hours, an average of 4 hours at a time; (d) maintenance of a proper sleeping position a newborn should be positioned on theback for sleep as this has shown to decrease the incidence of the Sudden Infant Death Syndrome (SIDS), asudd en, unexplained death of an infant younger than 1 year of age; (e) on-time vaccination and screening tests; and, (f) proper diaper area care proper diaper area care and preventing diaper dermatitis is a practice that parents usually tend to neglect. Another aspect of the new born childs needs is the psychological part. According to a study aided by the UNICEF, between the ages of zero and five years, critical aspects of childrens physical, cognitive, emotional, social and spiritual developments take place. The events which take place in a childs early life can impact upon their development over the rest of their lifespan.  [14]  A new born childs psychological needs are just as important as the physical ones. Babies need touch and attention from their caregivers to thrive. Cuddling, singing, talking and reading to the baby are all ways to cement the bond between newborn and caregivers. Letting a newborn know he is loved will help him grow into a secure child.  [15]  Erik Erikson, one of the pillar theorists of Psychology, identified the eight (8) stages of Psychosocial Development that a person goes through from birth to death. Stage one (1) of which involves the psychological developmental conflict of a newborn from bir th to one (1) year, and this is trust versus mistrust. According to Erikson, the baby will develop a sense of trust only if the parent or caregiver isresponsive and consistent with the basic needs being met.Babies who are not securely attached to their mothers are less cooperativeand are more aggressive in their interactions. And as they growolder, they become less competent and sympathetic with peers. They also tend to exploretheir environment with less enthusiasm and persistence.  [16]   Evidently, the aforementioned needs of a new born child entail a structured play of events which progress from the moment of birth. It is logical to infer that it takes a much longer period of time when the crucial mother-child interaction is considered than it takes plainly for the recovery from the labor and delivery processes. MATERNITY LEAVE BENEFITS IN OTHER COUNTRIES For purposes of comparison, the Huffington Post Canada shows a chart which indicates the duration of time for which the government of other countries grant maternity leave benefits to women employees.  [17]   The United Nations, as an international organization not subject to the jurisdiction of any single country, have their own legislation on granting maternity leave benefits. According to its Administrative Instruction  [18]  on such matter, an expectant mother shall be entitled to sixteen (16) weeks of paid leave benefit. Six (6) weeks of which is the pre-delivery leave and the remaining ten (10) weeks as post-delivery leave. A shorter period of pre-delivery leave may be granted at the request of the concerned staff member on the basis of a certification from a licensed medical practitioner. However, she shall not be allowed a post-delivery leave of less than ten (10) weeks. As in the case of the United States of America, there is no federal law which specifically grants women employees such paid maternity leave benefits. Instead, what exists is the Family and Medical Leave Act of 1993 (FMLA) which provides certain employees, subject to certain eligibility conditions, with up to twelve (12) weeks of unpaid, job-protected leave per year for the following reasons: (a) for the birth and care of the new born child; (b) for the placement with the employee of a child for adoption or foster care; (c) to care for an immediate family member (spouse, child, or parent) with a serious health condition; or, (d) to take medical leave when the employee is unable to work because of a serious health condition.  [19]  However, according to a report of the Center for Economic and Policy Research, a large share of working parents is either not covered or not eligible for leave under the Family and Medical Leave Act.  [20]  The same report stated that, the United Sta tes has the least generous parental leave policies among the twenty-one (21) high-income countries studied countries included aside from the United States were Australia, Austria, Belgium, Canada, Denmark, Finland, France, Germany, Greece, Ireland, Italy, Japan, Netherlands, New Zealand, Norway, Portugal, Spain, Sweden, Switzerland, and the United Kingdom. That, with the exception of only a handful of states, the U.S. law provides no rights and benefits to paid parental leave. In a much closer view, the fellow-Asian countries of the Philippines, except for a few, have also adopted and appreciated the significance of a longer duration of maternal leave. CONS AND PROS OF LEAVE EXTENSION To fairly appraise the necessity of extending the duration of maternity leave in the Philippines, here are a few grounds for which one may argue on why or why not such an appeal should or should not be granted. Some of the contentions aimed against an extended maternity leave as cited by the National Network for Child Care, are: (a) companies may find it costly to pay such employee while holding the job position open for a long period of time there will be an imbalance in the money paid to the person on maternity leave with the amount of work she has provided; (b) possibility of lesser work opportunities for women with a lengthier duration of maternity leave, companies may favor a more homogenous profile of male workers as undoubtedly, there would be minimal occurrences for excusable and compensable work interruptions; and, (c) there might exist a conflict between expectant mothers and non-parent employees the duties and responsibilities, dependent on the position left behind by the employee on leave, needs to be filled in by another worker for the effective and efficient operation of the company, such situation may imbue in the minds of the non-parents an inequity and unfairness in the grant of benefits.  [21]   On the other hand, the obvious advantages of extending the duration of paid maternity leave are as follows: (a) it affords ample time for the full recovery of the mother, especially those who have undergone a Caesarean delivery; (b) it reduces unnecessary stress as the employee adjusts to her role as a parent this supports the contention that such employee will return to work free from the tension and troubles of motherhood; (c) it allows for the fulfilment of maternal responsibilities in response to the physical needs of the new born it is a principle of human nature that there is no better person to provide care and attention to a child than the mother herself ; (d) it promotes mother-child bonding and attachment for purposes of satisfying the psychosocial needs of the new born.  [22]   A MOVE FOR THE EXTENSION OF MATERNITY LEAVE BENEFITS With the details and specifics aforecited, it appears that there is indeed a need to extend the 60-day and 78-day durations of maternity leave benefits granted to Filipino women employees. An extension of 10 days each would be adequate to apportion a reasonable time allowance and ensure that once the employee resumes work, she is a hundred percent ready and prepared, thus, assuring a more effective, efficient and competent performance. This would constitute aseventy (70)-day leave period for normal vaginal delivery instead of 60 days, and aneighty-eight (88)-day leave duration for those who had a Caesarean delivery. Such contention is based on the following grounds: (a) the 60-day period granted for those who have undergone a normal delivery is insufficient so as to enable the mother to completely recover from the effects of the birthing process before getting back to work; (b) the 78-day period granted for those who have undergone Caesarean birth is gravely insufficient as such is b oth a birthing process and a surgical procedure, it requires a much longer healing time; (c) that a longer leave duration would greatly advance the benefits afforded to the youngest generation of the country in terms of their physical and psychosocial development; and, (d) that the Philippines, as a country, has long been left behind by other nations in realizing the pressing need for a longer maternity leave. It seems as though such need has actually been recognized by the members of the Philippine Congress as evidenced by the passing of House Bill No. 3973, also known as An Act Increasing Maternity Leave Benefits from 60 Days to 120 Days or Four Months. Such House Bill was initiated by Liza Maza and LuzvimindaIlagan, representatives of the General Assembly Binding Women for Reforms, Integrity, Equality, Leadership, and Action (GABRIELA) Partylist. House Representative LuzvimindaIlagan said that, Extending the period for maternity leave will not only give mothers the opportunity to fully recover, it will also give them the chance to breastfeed infants during the first four months. She also added that, the proposed legislation would also help address the maternal and infant mortality rates in the country.  [23]   Such matters regarding the definite and suitable length of time for which maternity leave benefits should be granted are, as of the moment, still left hanging and undecided. Thus, it is entirely within the control of the Philippine Legislature to resolve such concerns, in the effort of balancing and equalizing the interests of the concerned employee and the employers, for the greater benefit of the general public.

Cosquer Cave :: Place Descriptive Essays

Cosquer Cave In 1985, while scuba diving in Cape Morgiou, near Marseilles, France, Henri Cosquer discovered a narrow 175-meter, air-filled tunnel 37 meters below the sea (â€Å"The Cosquer Cave†). The tunnel, unbeknownst to him, lead to one of the world’s most treasured Paleolithic art-filled caves. During the Paleolithic age, Cosquer cave was much more accessible than it is today. Researchers say that at the times the art was created, the cave was probably only 11 kilometers from the coast and 80 meters above sea level (Jaobs). Since then, the giant glaciers of the period have melted and the Mediterranean Sea has risen, preserving this magnificent display of ancient art. Oblivious to the historical importance of his find, Cosquer kept the cave secret until a return visit in July of 1991 when he sighted what seemed to be a red, stenciled human hand painted on the side of the cave (Clottes 14). Excited by this discovery, Cosquer invited several fellow divers including Yann Gogan, Jean-Claude Cayol, Pascal Oriol, Cendrine Cosquer, and Thierry Pà ©lissier to further examine the cave with him (Clottes 14). The hand, as it turned out, was only the first of approximately 142 ancient paintings and engravings that appear on the walls and ceilings of Cosquer cave (â€Å"Accessing Cosquer Cave†). The cave consists of several narrow tunnels, some of which are less than one meter high, and two main chambers that are covered with calcite crystals (Clottes 48). Throughout the cave are finger grooves, which the artists were able to carve into the weather-softened stone walls (Clottes 59). After recording proof of the discovery, Henri Cosquer informed the French Ministry of Culture. They assigned Jean Clottes and Jean Courtin to study the cave for further research. In the last nine years scientists and archaeologists have performed approximately two dozen radiocarbon datings (Jaobs). This makes Cosquer the most extensively dated cave in the world (â€Å"Accessing Cosquer Cave†). Through these thorough studies, researchers have discovered that the images were created during two separate phases. The first phase dates around –27,000, and includes the handprints and some geometric designs that were found (Duckeck). After that, there is an 8000 year gap in which no one seems to have used the cave (Jaobs). The second phase is between -19,000 and –18,000. It was in this phase that the animal images were created (Duckeck). Of the images depicted in the cave, over two-thirds are engraved and most are of horses (Duckeck).

Needs of Ifrs Education in India

Needs of IFRS Education in India Prepared By Dr. Atul Bansal, Principal ,M. Com. , LL. B. , PM&IR, M. B. A (Fin. ), Ph. D. , MIAA, MICA C. Z. Patel College of Business and Management (S. P. University ), Vallabh Vidya Nagar – 388120. Distt. Anand ( GUJARAT) Mobile : 09377023808 Fax : 02692-236700 e. mail : dr. [email  protected] com Introduction â€Å"In the age of globalization India insulates itself from development taking place worldwide and it is imperative for us to make a formal strategy for convergence with IFRS to harmonize with accounting standards accepted worldwide. The global trend towards IFRS represents a significant change and opportunity for many investors, companies and capital market. IFRS a global set of accounting standards may provide benefits such as greater transparency and comparability of financial information across countries. As companies compete globally, the movement towards IFRS is rapidly becoming one of the most important issues for companies to address today. Starting April 1, 2011, India has made it mandatory for every listed company to adopt International Financial Reporting Standards or IFRS.One year is a very short time when it comes to a major overhaul of the accounting process. Currently, India has an extremely limited pool of resources that have any form of training or experience in IFRS. To broaden the pool of trained resources, it is important to incorporate IFRS training in colleges, universities, and the professional accounting syllabus of the ICAI. Initiative by individual institutions to come up with the task of providing training and expertise in IFRS will also go a long way as it’s a big task and ICAI alone will not be able to bridge the gap.This paper throw lights on importance and need of IFRS education in India, the extent to which IFRS are recognized around the world and explore the possibilities of implementing IFRS in the Indian Keywords: IFRS, Accounting, Research, Purpose, Applicability, E ducation, IASB, ASB, Consideration, Convergence, Access, Design, Implementation International Financial Reporting Standards (IFRS) is a set of accounting standards, developed by the International Accounting Standards Board (IASB) that is becoming the global standard for the preparation of public company financial statements.The IASB is an independent accounting standards body, based in London. Importance of IFRS While converting to IFRS is a complex process, these standards have important and positive implications for organizations and individuals that adopt them. For companies: Reduced cost of capital and the ease of using one consistent reporting standard from subsidiaries in many different countries. For investors: Better information for decision making, leading to broader investment opportunities. For national regulatory bodies: Better information for market participants in a disclosure- based system. The Purpose of IFRSToday businesses are crossing their national boundaries, pr omoting the synchronization of accounting standards across the globe. The objective behind the IFRS is to create a common platform for better understanding of accounting, internationally. By adopting IFRS, a business can present its financial statements on the same basis as its foreign competitors, making comparisons Wider Applicability Furthermore, most jurisdictions that report under IFRS, including the EU, mandate the use of IFRS only for the listed companies. However, in INDIA, IFRS would apply to a wider group of entities than their international counterparts.This is primarily because of a large number of private enterprises getting covered under the size criteria, based on their turnover and/or their borrowing. Companies also may need to convert to IFRS if they are a subsidiary of a foreign company that must use IFRS, or if they have a foreign investor that must use IFRS. It’s Time to Learn IFRS ICAI has announced convergence to IFRS by 2011 which is not far away, since firms would need to start preparing themselves right now to adopt this change. It is time to prepare for the change, which will bring substantial and significant business transfiguration.European Union 2005, Brazil 2010, Canada 2011, India 2011, Russia Undecided, Australia 2005, Israel 2005, New Zealand 2005 Conversion to International Financial Reporting Standards (IFRS) The adoption of IFRS compliant accounting standards in India will, among other things, allow Indian companies greater access to international capital markets. However, IFRS adoption is not without its challenges. For instance, companies that have already adopted IFRS have had to enhance their systems and processes to generate the requisite amount of information that is necessary for IFRS reporting.In addition, education and training are important for the company’s finance as well as general management staff. But perhaps the biggest challenge today is that of educating finance professionals so that they can reconstruct the global economy while adding value to their organizations. Need of IFRS Education ICAI, CII, C. Z. P. C. B. M and many private bodies are conducting IFRS awareness program through Seminars and Presentations and it is making the companies aware of the compulsion to prepare for the inevitable and how it is going to help.We believe that IFRS expertise demand could be fulfilled only through dedicated IFRS trainings and diplomas that equip finance professionals/ students with all necessary skill set required. â€Å"An IFRS Degree and Diploma holds great significance in a professional’s resume today. IFRS transition is a good opportunity for finance professionals in India as it holds a big business opportunity in the country and abroad. And as the norm is going to become a mandatory feature for Finance companies to adhere from 2011, the importance of professionals with an IFRS diploma will increase manifold.It will certainly act as a great tool to select the best pr ofessionals from the world of finance, thereby giving a major boost to the industry as a whole†. Many Indian companies have still not started investing time and efforts on the implementation of this transition process considering the overall lack of clarity on several key aspects. However, as this clarity emerges and the deadline draws closer, consultants expect to see a lot more companies working on implementing the changes and increasing their internal readiness through technical up gradation, process and technological changes which in urn should translate into a greater demand for IFRS expertise. â€Å"IFRS transition in Europe, Canada, South America and Asian countries including India is creating huge requirements of people having good understanding of IFRS. A person with IFRS expertise will prove to be a valuable resource having an excellent job opportunity†, opined Abhishek Asthana, Chartered Accountant and member of ICAI. Adoption of IFRS by a number of listed co mpanies by 2011 would result in a significant demand for IFRS resources. Substantially, all of these resources would need to be generated internally by training existing staff.So, Finance professionals and students should definitely gear up and focus on getting their hands on IFRS expertise to widen opportunities and strengthen their resume. Consistent, comparable and understandable financial information is the lifeblood of commerce and investing. Presently, there are many sets of reporting standards applicable in different parts of the world. In search of a new financial order: one global standard for financial reporting makes sense. 50% of Indian accounting standards are similar to IFRS, but does that mean that fifty percent of our problem is solved?Answer is definitely a No. A big difference between Indian GAAP and IFRS is that accounting in India is not only governed by accounting standards but also by various legislations and governing bodies like Income Tax Act, Companies Act, SEBI, etc. In case of divergence between accounting standards and these legislations, accountants usually prefer a way which is most beneficial to them, says Abhishek Asthana, an IFRS expert, Chartered Accountant and member of ICAI. However, IFRS is not less than a law. All key areas and financial results may vary considerably on transition to IFRS.The key differences between Indian GAAP and IFRS: Firstly, under IFRS, a company would be able to recognize revenue with reference to stage of completion, if and only if, the agreement transfers control to the buyer, as well as the significant risks and rewards of the ownership of the work. But the guidance note and accounting standards issued under Indian GAAP considers it appropriate to recognize revenues once there is a legally enforceable agreement for sale and other conditions for recognition of revenue are met.Secondly, under IFRS, if certain non-employee obligations are settled through ESOP, IFRS will require fair value accounting for such options and cost differential between grant price and fair value will have to be recognized. Moreover, subsidiaries will need to account for the ESOP costs for options granted to its employees by the parent company. This is likely to have a major impact in the case of multinational subsidiaries operating in India, since many of their senior executives are given stock options in the parent company listed in the US/global markets, and where such accounting was not required under Indian GAAP so far.Thirdly, IFRS entails discounting of future receivables and payables to their current values using expected interest rates. The application of time value of money concept will have impact on the amounts recorded for long-term security deposits, payables falling due after one year and revenues earned in advance for long-term contracts/ arrangements. Fourthly, Companies will also have to comply with IAS 39 on financial instruments, particularly with regard to accounting for derivativ es. Under IFRS, hedge accounting is permitted for such transactions provided certain conditions are met.Fifthly, IFRS requires use of fair value. Whereas Indian GAAP follows historical cost convention except for fixed assets-which could be revalued. For tax purposes, the potential problem with fair value accounting is that it gives rise to the recognition of unrealized profits and losses. The question is whether these profits should form the starting point to calculate taxable profits where no specific tax rule currently exists to the contrary. Sixthly, Entities in India prepare their financial statements in Indian rupees while under IFRS reporting is required under functional currency, i. e. he currency of the primary economic environment in which the entity operates, which may be different from the local currency. For an Indian entity it is possible that a significant portion of revenues may be derived in foreign currencies, pricing is determined by global factors, assets are rout inely acquired from outside India and borrowings may be in foreign currencies. All these factors need to be considered to determine whether the Indian rupee or foreign currency is indeed the functional currency. Convergence to IFRS is not a mere accounting exercise but will have significant business implications.Hence, companies would augur well to start preparing early and not wait for the last moment to rush to. Suggestions for Improvement Adoption of IFRS by a number of listed companies by 2011 would result in a significant demand for IFRS resources. Substantially, all of these resources would need to be generated internally by training existing staff. So, Finance professionals and students should definitely gear up and focus on getting their hands on IFRS expertise to widen opportunities and strengthen their resume. Central and state government should adopt IFRS Education system.Improvement programs i. e. symposium, seminar is helpful for IFRS system. Graduate level accounting s yllabus should be modified as per Latest Aspects of accounting including IFRS. University Grants Commission [UGC] and All India Council for Technical Education [AICTE] adding IFRS Accounting System in the Universities and Institution course curriculum. Looking at the present scenario of the world economy and the position of India convergence with IFRS can be strongly recommended. But at the same time it can also be said that this transition to IFRS will not be a swift and painless process.Implementing IFRS would rather require change in formats of accounts, change in different accounting policies and more extensive disclosure requirements. Therefore all parties concerned with financial reporting also need to share the responsibility of international harmonization and convergence. Keeping in mind the fact that IFRS is more a principle based approach with limited implementation and application guidance and moves away from prescribing specific accounting treatment all accountants wheth er practicing or non-practicing have to participate and contribute effectively to the convergence process.There is an urgent need to address these challenges and work towards full adoption of IFRS in India. The most significant need is to build adequate IFRS skills through IFRS Education and an expansive knowledge base amongst Indian accounting professionals to manage the conversion projects for Indian entities. This can be done by leveraging the knowledge and experience gained from IFRS conversion in other countries and incorporating IFRS into the curriculum for professional accounting courses.References 1. Lantto, Anna-Maija and Sahlstrom, Petri (2009). Impact of International Financial Reporting Standard adoption on key financial ratios. Accounting and Finance, 49, 341–361. a 2. Armstrong, Chris S. , Barth, Mary E. , Jagolinzer, Alan D. and Riedl, Edward J. (2009). Market Reaction to the Adoption of IFRS in Europe. Accounting Review Forthcoming. 3. Daske, Holger, Hail, Luz i, Leuz, Christian and Verdi, Rodrigo S. (2008). Mandatory IFRS Reporting Around the World: Early Evidence on the Economic Consequences. ECGI – Finance Working Paper No. 198/2008; Chicago GSB Research Paper No. 12. 4. Callao, Susana, Ferrer, Cristina, Jarne, Jose I. and Lainez, Jose A. (2009). The impact of IFRS on the European Union: Is it related to the accounting tradition of the countries?. Journal of Applied Accounting Research, 10(1), 33 – 55. 5. Ramanna, Karthik and Sletten, Ewa (2009). Why do Countries Adopt International Financial Reporting Standards?. Harvard Business School Accounting & Management Unit Working Paper No. 09-102. 6. Barry J. Epstein and Eva K Jemarkowicz ‘IFRS’ John Wiley & Sons, Ltd IASB Due Process Handbook of International Accounting Standards Committee Foundation . 7. Ralph Tiffin’ â€Å"The Complete Guide to IFRS including interpretation†, Thorogood Publication, London. 8. http://www. researchandmarkets. com/rep orts 9. Web: www. iasb. org