THE EVALUATION OF CAPITAL BUDGETING DECISIONS - Free Essay Example

Sample details Pages: 7 Words: 1962 Downloads: 9 Date added: 2017/06/26 Category Finance Essay Type Research paper Did you like this example? Capital budgeting refers to the process to make decisions concerning investments in the long-term assets of the firm. The general idea is that the capital, or long-term funds, raised by the firms are used to invest in assets that will enable the firm to generate revenues several years into the future. Often the funds raised to invest in such assets are not unrestricted, or infinitely available; thus the firm must budget how these funds are invested. Don’t waste time! Our writers will create an original "THE EVALUATION OF CAPITAL BUDGETING DECISIONS" essay for you Create order Capital budgeting is a required managerial tool. One duty of a financial manager is to choose investments with satisfactory cash flows and rates of return. Therefore, a financial manager must be able to decide whether an investment is worth undertaking and be able to choose intelligently between two or more alternatives (https://allinterview.com/showanswers/119355.html ) To do this, a sound procedure to evaluate, compare, and select projects is needed. This procedure is called capital budgeting. Capital budgeting refers to the process in which the investments are worth pursuing. Whether the project is based on long term investment or building a new plant. Frequently, the cash inflows and outflows are assessed in order to reach a decision whether the returns propagated meet a sufficient target. The title Evaluation of capital Budgeting Decisions at TNPL aims at expanding the plant using various non discounting capital budgeting evaluation methods. (https://www.tnpl.com/tnpl/tech nology.htm) REASON FOR DOING THIS STUDY: At present TNPL has two paper machines, which produce both newsprint, and printing writing paper with an installed capacity of 2,45,000 Tons per annum. TNPL has now embarked on a Mill Expansion Plan (MEP) which aims to increase the paper production capacity to 4,00,000 Tons per annum. Since it involves a large capital outlay of approximately thousand crore rupee, this necessitates the need to evaluate the capital budgeting decision. (https://www.tnpl.com/tnpl/technology.htm) PURPOSE: The process of determining which potential long-term projects are worth undertaking, by comparing their expected discounted cash flows with their internal rates of return. Capital budgeting decisions play a pivotal part in appraising and selecting capital investments in any business organization. The main purpose of the study is therefore to evaluate the capital budgeting decision of TNPL by using various tools and techniques of capital budgeting. LITERATURE: DCF Techniques and Nonfinancial Measures in Capital Budgeting: A Contingency Approach Analysis. This study empirically examines capital budgeting methods. Both discounted cash flow (DCF) techniques and nonfinancial measures are widely used in capital budgeting. However, DCF techniques are more important than nonfinancial measures, and nonfinancial measures appear to serve as a partial substitute when DCF analysis is less efficient. (https://webcache.googleusercontent.com) The study shows that product standardization affects both capital budgeting methods, as hypothesized. Firms with high product standardization tend to place more emphasis on DCF analysis, while firms with low standardization are more likely to focus on nonfinancial measures. An appropriate fit under contingency theory between product standardization and the two capital budgeting methods is significantly associated with a firms satisfaction with the capital budgeting process. (Chen and Shimin, Behavioral research in accounting, 2008) Chen (1995) studied the use of different quantitative evaluation tec hniques across three types of investments. They are equipment replacement, expansion of existing products, and expansion into new products. The certainty of the related cash flows varies greatly when comparing proposals for routine equipment replacement and expansion into new products. He found DCF techniques are widely used than non-DCF techniques.(Chen and Shimin, The engineering economics, 1995) Capital Budgeting and the Financing Decision: An Exposition: This article attempts to better integrate analysis of the capital structure and capital budgeting decisions on a relatively straightforward level. The analysis in this article rests on a number of simplifying assumptions under which all of the valuation methods and capital budgeting procedures are equivalent. Most productive assets are not employed directly by individuals. Instead, the advantages of specialization and limited liability encourage corporations to act as intermediaries, holding and managing physical assets and issuing securities to individual investors. If firms are to evaluate projects in terms of investors opportunities, they must be able to compare the characteristics of their own projects with those of financial claims available in the market. The article concludes that different approaches to the valuation problem lead to different cost of capital measures and that all of these may be used to construct a capital budgeting procedure. Under the simplifying assumpti ons employed in the paper, there is no logical reason to prefer one procedure to another, and the financial manager could let his choice of procedures be governed by the form in which he finds it easiest to come up with a cost of capital estimate. (Robert A, Taggart Jr, Financial Management, 1972) CAPITAL BUDGETING DIFFERENCE: This study breaks down the use of capital budgeting procedures between industries. While it is easy to state that the use of capital budgeting analysis has become more sophisticated over the decades, the question remains as to whether different industries have followed the same pattern. Three hundred two Fortune 1,000 companies responded to a survey organized along industry lines. Chi-square independence of classification tests indicated that a null hypothesis of no significant relationship between industry classification and capital budgeting procedures could be rejected in a number of decision-making areas including goal setting, rates of return, and portfolio considerations. Just as industry patterns affect financing decisions (debt vs. equity), they also affect capital budgeting decisions, and this study emphasizes that point. (Block, Stanley. Engineering Economist, 2005) WHAT AM I GOING TO FIND OUT? To analyze the capital budgeting decisions of TNPL using IRR, NPV, PI and other evaluation methods. IRR- INTERNAL RATE OF RETURN NPV-NET PRESENT VALUE PI-PROFITABILITY INDEX To study about the Mill Expansion Plan of TNPL To estimate the cash flows so as to evaluate the MEP To ascertain the principal risk associated with the project To ascertain the sensitivity of the project Who, where, when and how? Answers to the questions who, what, when, where and sometimes how. The researcher attempts to describe of define a subject, often by creating a profile of group of problems, people or events. Although association can more be used to infer, they more often provide a sound basis for the solution of marketing problems. This study is more descriptive. I searched in the internet, referred the books and discussed with my father to find this topic. With the help of my father i contacted the manager of the financial department and got an appointment. I explained him about my thoughts and got permission nearly after two months. I also got access to use the financial data of the firm. The general idea is that the capital, or long-term funds, raised by the firms are used to invest in assets that will enable the firm to generate revenues several years into the future. Therefore, a financial manager must be able to decide whether an investment is worth undertaking and be able to choose in telligently between two or more alternatives. SCOPE: Actually to minimize input value for a unit value of output lots of resources (money, time, materials and manpower) are needed. The argument that capital is a limited resource is true of any form of capital, whether debt or equity short-term or long-term, common stock or retained earnings, accounts payable or notes payable, and so on. Even the best-known firm in an industry or a community can increase its borrowing up to a certain limit. Once this point has been reached, the firm will either be denied more credit or be charged a higher interest rate, making borrowing a less desirable way to raise capital. Faced with limited sources of capital, management should carefully decide whether a particular project is economically acceptable. In the case of more than one project, management must identify the projects that will contribute most to profits and, consequently, to the value or wealth of the firm. It is the basis of capital budgeting. APPROPRIATE METHODOLOGY: This process involves projecting the profitability generated by the new machine and thereby projecting the cash flows. On this projected cash flow the various Capital Budgeting techniques will be applied. Various Discounted cash flow techniques like Net Present Value (NPV), Profitability Index (PI), Internal Rate of Return (IRR) and Modified Internal Rate of Return (MIRR) will be calculated. Based on the result of these calculations the project will be evaluated. To calculate the discount cash flow techniques i need to collect the financial data. I have already got the access to use the data. When i start doing my dissertation i can collect the data from the firm with the help of financial manager. APPROPRIATE SAMPLING PROCEDURES: In the former, the researcher knows the exact possibility of selecting each member of the population. But this type of sampling is more difficult and costly. Even though it is costly we have a big advantage in this type of sampling (i.e.) the type of population in which the results can be generalised from the sample to the population. In addition, this type of sampling allows to calculate the precision of the estimates obtained from the sample and to specify. Systematic sampling is a type of probability sampling in which sampling involves you selecting the sample at regular intervals from the sampling frame (Adrian thorn hill, Mark Saunders, Philip Lewis, research methods for business students, 2009) Sampling fraction for systematic sampling is actual sampling size divided by total population. DATA COLLECTION PROCEDURE: The data collection for this study is mainly based on the primary and secondary sources. The primary data are based on the data collected from the firm (i.e.) the paper industry. The secondary data are collected from articles, journals and literature. In this study am going to use both these methods to collect the data. The data collected for this analysis has been mainly through secondary sources like company annual reports and records. I am going to think about triangulation (literature, questioner and interview). By Comparing all these three in a triangular format i will get some new idea. So what i am coming to say is, am going to use the collected data in triangular form. DATA ANALYSIS PROCEDURE: There are different ways of analysis. Just for example i am taking sensitive analysis. Sensitivity Analysis is also known as What If analysis. It is useful in pinpointing the areas where forecasting risk is especially severe. The basic idea with a sensitivity analysis is to freeze all variables except one and see how sensitive our estimated cash flows to changes in that one variable. If our cash flow estimate turns out to be very sensitive to relatively small changes in the projected value of any one component of project cash flows, then forecasting risk associated with that variable is high. In this project sensitivity analysis has been carried out on the cash flows under certain conditions or sensitivity factors. Under these conditions all the capital budgeting techniques will be implemented and their effects will be evaluated. RELIABIALITY AND VALIDITY: Reliability can be assessed by analysing whether the measures yield the same results on other occasions? Whether other observers reach similar observation and care should be taken when analysing the data to ensure that your data are telling you what you think they are telling you. (Adrian thorn hill, Mark Saunders, Philip Lewis, research methods for business students, 2009) Validity can be assessed by analysing the relation between the program and the observed outcome. So if there is a relation, i have to check the kind of relation between the program and observed outcome. With the help of the outcome i am going to generalise and construct this concept so that it may be used by others. TIME PLAN: GANTT CHART W1 W2 W3 W4,W5 W6,W7 W8,W9 W10 W11,W12

Article Summary The Age of Educational Romanticism

Article Summary: The Age of Educational Romanticism Charles Murray discusses the nature of The Age of Educational Romanticism in this 2008 article from The New Criterion. The author defines this age as the belief that all children who are not doing well in school have the potential to do much better. Murray characterizes educational romantics as people who believe that the academic achievement of children is determined mainly by the opportunities they receive and has little to do with their intellectual capacity. Educational romantics believe the current K-12 education system is in need of vast improvement. Murray describes two types of educational romantics, one set on the Left and one on the Right, and differentiates between the two thusly: Educational romantics of the Left focus on race, class, and gender. It is children of poor parents, and girls whose performance is artificially depressed, and their academic achievement will blossom as soon as they are liberated from the racism, classism, and sexism embedded in American education. Those of the Right see public education as an ineffectual monopoly, and think that educational achievement will blossom when school choice liberates children from politically correct curricula and obdurate teachers unions (Murray). Both of these accounts fail to take into account the vast differences in intellectual ability that permeates the average American classroom. Furthermore, Murray calls the No Child Left Behind Act of 2002Show MoreRelatedEssay on Silent Spring - Rachel Carson30092 Words   |  121 PagesBookRags, Inc. ALL RIGHTS RESERVED. The following sections of this BookRags Premium Study Guide is offprint from Gales For Students Series: Presenting Analysis, Context, and Criticism on Commonly Studied Works: Introduction, Author Biography, Plot Summary, Characters, Themes, Style, Historical Context, Critical Overview, Criticism and Critical Essays, Media Adaptations, Topics for Further Study, Compare Contrast, What Do I Read Next?, For Further Study, and Sources.  ©1998-2002;  ©2002 by Gale. GaleRead MoreSources of Ethics20199 Words   |  81 Pagesfact be what economist Adam Smith (1976, p. 273) had in mind in his landmark treatise, The Theory of Moral Sentiments, in which he states, â€Å"And thus religion, even in its rudest form, gave a sanction to the rules of morality, long before the age of artificial reasoning and philosophy. That the terrors of religion should thus enforce the natural sense of duty, was too much importance to the happiness of mankind for nature to leave it dependent upon the slowness and uncertainty of philosophicalRead MoreMetz Film Language a Semiotics of the Cinema PDF100902 Words   |  316 Pagestranslates by pigeon-holing (p. 35). 1990 Preface This book is divided into four sections, and it groups ten chapters corresponding to twelve previously published articles. The disparity between ten and twelve is caused by the fact that Chapter 5 was condensed out of three separate articles. As the title indicates, the articles included in this volume have been selected exclusively from the author s writings on cinematographic problems.* Since this is, therefore, a collection, I have not tried

Case Analysis Global Value Chain Strategies Essay

In this case analysis I will provide the most appropriate solutions to the issues raised in the following from the perspective of global value chain strategies regarding ISOL +. A recommended solution would be to build a new manufacturing facility close to the firm s southern European market. Since there is a large percentage of sales increase expected in Italy and Spain this will help facilitate production levels. Also with this location it will also facilitate shipments and minimize transit times which ultimately will help get product faster to the customer. With the current plant capacity of 3,000,000 m^3, if there were to be an increase in the market of an additional 1,000,000 cubic m the facility will not be able to meet the additional demand. The two changes proposed to the logistics setup are a decrease in the delivery time to 48 hours, and the other is to cut the minimum order possible to the equivalent of four pallets. Both these proposals will lead to substantial increas e in the logistics costs. It is forecasted that during the next five years, 47% of the sales in France will be of the size of four and six pallets. This makes it imperative that the minimum pallet size be decreased from the current eight pallets to four pallets. Moreover, if the delivery time is to be reduced to 48 hours, then production to order has to be abandoned. This reduction would mean incurring costs of holding inventories of finished goods. Both these proposals would mean anShow MoreRelatedSupply Chain Sustainability ( Scs )1505 Words   |  7 PagesSYNOPSIS This report focuses on the importance of supply chain sustainability (SCS) and the what are the benefits the sustainable supply chain can bring to the relevant stakeholders. The final section of the report illustrates how to developing and implementing a sustainable supply chain strategy in business environment. The examples of Starbucks and IKEA as the sustainable supply chain organizations are used to support the sustainable view in this report. There also are some other examples usedRead MoreHilti cut or Fasten?1339 Words   |  6 Pagesï » ¿Contents Table of Contents Hilti: Cut Costs or Hold Fast? Overview This case review was executed about a case study that was discussed in class on the operations of Hilti and its surroundings – Hilti is a global corporation based in Lichtenstein that is a market leader in drills, saws and fastening products. The analysis looks at the development of Hilti ever since it was founded, and the different strategies which have been implemented to get them to where they are now. For a company thatRead MoreEssay about Value Chain at Crocs, Inc.977 Words   |  4 Pagespresent an analysis of the companys value chain and determine what changes I would incorporate and why. Analysis of the companys value chain To get started, we first need to understand what Crocs value chain is and how that process plays a role in the strategic direction of the company. The authors of our text, views the value chain as the entire series of organizational work activities that add value at each step, from raw materials to finished product. In its entirety, the value chain can encompassRead MoreLogistics: Management and Supply Chain1566 Words   |  7 Pagesvriad@hr.nl Rotterdam, 00 januari 2007 6-1 Corporate strategy Business strategy Operations Strategy Mission Objectives (cost, quality, flexibility, delivery) Functional strategies in marketing, finance, engineering, human resources, and information systems Strategic Decisions (process, quality system, capacity, and inventory) Distinctive Competence Consistent pattern of decisions Operations Strategy Process (Figure 2.1) 2-2 Course organization Logistics Read MoreEcco a/S – Global Value Chain Management1709 Words   |  7 PagesCase 3 The International Firm in a Global Economy ECCO A/S – Global Value Chain Management Question 1: 1. Relate the Ecco case to the conceptualization of the organization as a global factory. What similarities and dissimilarities with the global factory conceptualization do you see and what solutions may it present? Similarities: As ECCO had been very successful in the footwear industry by focusing on production technology and assuring quality by maintaining full control of the entireRead MoreChina: The Start of a New Era for Wal-Mart Global Expansion1514 Words   |  6 PagesWalMarts approach to global expansion exemplifies the journey of self-discovery many corporations who have a stable, profitable domestic base of operations go through as they attempt to enter new markets globally. For WalMart this meant confronting the exceptionally high level of ethnocentrism in their organization while also using their analytics-based prowess to better understand cultures, not just costs and profits (Ming-Ling, Donegan, Ganon, Kan, 2011). The intent of this analysis is to define howRead MoreAnalysis of the Pros and Cons of Globalization1212 Words   |  5 Pageshighly targeted marketing across the many regions and countries of the world. Global marketing today must contend with a wider array of constrai nts, both economic and cultural, that as ever been the case in the past (Gupta, 2003). These constraints fuel a high level of creativity and focus on how to overcome cultural and economic constraints through rapid product development lifecycles, exceptional levels of supply chain integration (Wu, 2011) and greater focus on relationship market over just sellingRead MoreGlobal Logistics and Risk Management1048 Words   |  5 PagesEXECUTIVE SUMMARY GLOBAL LOGISTICS AND RISK MANAGEMENT Global supply chain enables companies to expand beyond their domestic markets and expand globally .International supply chain could be viewed as an extension of the domestic supply chain if managed well .There are several forces which determines the success of international supply chain. Global market forces involves pressures and opportunities created by the foreign companies and customers .Overseas business sometimes is a defensive mechanismRead MoreMeli Marine Case Study Strategy Analysis Essay989 Words   |  4 Pagesï » ¿Meli Marine Case Study Strategy Analysis Significant Factors For Attractiveness of The Industry †¢ Global commerce trade is primarly dependent on trans-ocean shipping; roughly 90% of general cargo is shipped via container Based on the container shipping value chain, there are several segments to expand and integrate the business and enter the market. This would provide benefit of business diversification hence decreasing risks According to the volume of growth of shipping lanes (Exhibit 6), everyRead MoreTesco And E Mart : Market Positioning, Localization And Cost Control1565 Words   |  7 Pagesbiggest retailers. ALDI wants to expand its global business to some emerging countries, China is one of its choices due to the flourishing market. Although China is attractive to foreign investors, there are some multinational or small-medium enterprises encounter challenges and divested from China. The main purpose of this report is giving some recommendations to ALDI based on the analysis of two illustrative cases— Tesco and E-mart using â€Å"tripod† strategy (re sources, industry and institution). The

The Birth Control Movement Essay example - 1442 Words

The Progressive Era was a period of social and political reform beginning in the post Gilded Age 19th century and lasting through WWI. Industrial and urban growth of early 19th century America while representative of opportunity and future advancement simultaneously posed many difficulties for working class citizens. Prior concerns over the conditions of working class citizens were multiplied and magnified by overpopulated and impoverished urban communities. During this era many new Progressive agendas were introduced with the goal of reforming dated and unregulated policies, the most prominent of these, the birth control movement. The documents from chapter six of Constructing the American Past show that at its core, the birth control†¦show more content†¦In document three from The Case for Birth Control Sanger’s rhetoric changes, relying on facts, statistics, and knowledge based reasoning. Document three proves to be a much more reliable and comprehensive argum ent than document one. Sanger advocates small families for the working class as a means to eliminate poverty (due to large families), illegal abortions, child labor, and to protect the health of women â€Å"from overwork and the strain of too frequent child bearing† (6, 3,124) The argument shifts from a pseudo-socialist agenda to simply the right of a woman to control her own body and choose her own destiny. Following the release of The Woman Rebel, Anthony Comstock spearheaded an anti-birth control campaign with the aid of the Society for the Suppression of Vice, â€Å"vice† as Comstock described it â€Å"intemperance, gambling, and evil reading†(6,1,122). Document 2 is an interview with Comstock by Mary Alden Hopkins of Harper’s Weekly on the issue of birth control and the laws against its distribution and publication. Comstock approaches the birth control issue as a religious zealot, arguing that it is the moral and spiritual obligation of the peopl e to stray from â€Å"vice† and practice abstinence as the only means of family planning. Comstock’s conservative rhetoric appealed to the â€Å"Victorian† era principles of â€Å"self-control† and moral fortitude. Moreover, Comstock employs the ideology of â€Å"rule by fear,† byShow MoreRelatedBirth Control Movement : Margaret Sanger1980 Words   |  8 PagesThe birth control movement was created in early 20th century by Progressive and Socialist reformers like Margaret Sanger. She and other birth control activists would fight for women’s access to birth control through the 20th century which has gone on to affect American women today. In order to analyze the affect that birth control has had on America, it is necessary to look at the works of Margaret Sanger and the birth control movement of the progressive era. A good primary source with informationRead MoreMargaret Sanger And The Birth Control Movement Highlighted1187 Words   |   5 PagesMargaret Sanger and the Birth Control Movement highlighted a variety of important issues. These issues include women’s right to make decisions privately versus the right of a community to regulate moral behavior; the ethnic demographics of the American people; the ability of women to control their own physical destinies by limiting family size; and the idea that small families were the way to keep the American dream alive. The debate over birth control spoke to personal and political issues, whichRead MoreThe African American Community and the Birth Control Movement921 Words   |  4 Pagesï » ¿The African American Community and the Birth Control Movement (Order #A2087166) Racism has been a part of America for a very long time and one that has seeped into almost every part of American society. In fact, scientific studies and beliefs have, for a large part of the 20th century, been infused with an underlying racism that has tainted them. For instance, in the years from the 1880s to the mid 1940s, the African American fertility rate, or the rate at which African Americans were producingRead MoreMargaret Sanger s The First Birth Control Movement1288 Words   |  6 Pagesin a important way. Margaret Sanger was known for leading the birth control movement. She financed the research needed to develop â€Å"the pill†, an easy form of birth control that women could take themselves. She also founded the Planned Parenthood Federation Of America continuing her legacy of authoritative work to allow parenthood and birth control to be much easier. Margaret Sanger left a legacy of leading the birth control movement. Margaret Sanger was born on September 14th, 1879 to Anne PurcellRead MoreA Political Factor That Influenced Sanger s Birth Control Movement1223 Words   |  5 PagesA political factor that influenced Sanger during her birth control movement was the Comstock Laws. Comstock Laws were put in place by Anthony Comstock, a congressman who wanted to put a ban on spreading pornography through the U.S mail (Wardell, 1980, pg. 738). He soon broadened what the Comstock laws covered, to make it illegal to ship anything through the mail that had to do with contraceptives, even information. This was a constant battle for Sanger and she was arrested many times throughout herRead MoreMargaret Sanger, An American Nurse, Pioneered The Modern Birth Control Movement1159 Words   |  5 PagesMargaret Sanger, an American nurse, pioneered the modern birth control movement in the United States. She began her movement in 1912, with the publication of information about women s reproductive concerns through magazine articles, pamphlets, and several books. In 1914, Margaret Sanger was charged with violating the Comstock Law, a federal legislation prohibiting the mailing of obscene material including information about birth control and contraceptive devices. Despite being imprisoned for herRead MoreMandated Coverage For Birth Control On Health Insurance Plans957 Words   |  4 Pages2014 there was a heated debate on whether there should be a mandated coverage for birth control on health insurance plans. According to a survey by the University of Michigan Health System, 69% of adults in the United States support this requirement in health insurance plans and the people who oppose this requirement is less than 10%. There have been other laws made by states recently that are affecting birth control and abortions. For example, a regulation implemented by the Iowa Board of MedicineRead MorePros And Cons Of Birth Control1442 Words   |  6 PagesEven though birth control issues remain as a controversial topic from the early 18th century to now, the debate between Margaret Sanger and Winter Russel on the pros and cons of providing information about birth control strategies for the public was a foundation stone for today’s family planning policies and regulation of transmission of venereal disease in the United States of America. It is important to note that although in 1920 information about birth control strategies were banned from reachingRead MoreEugenics and Planned Parenthood Essay1405 Words   |  6 PagesMargaret Sanger’s feminist, contraceptive movement was not originally founded with this purpose. It was marketed as a way to control the population and be merciful to those yet to be born, again determined also by race and intelligence. The similarities in purpose actually brought the two organizations together to form a â€Å"liberating movement† to â€Å"aid women† known today as Planned Parenthood (Schweikart and Allen 529-532). The name may sound harmless, but the movement hid a darker purpose, to wean out theRead MoreAnalysis Of The Right To Ones Body By Margaret Sanger911 Words   |  4 Pagesdescribed by biography.com, was â€Å"†¦ an early feminist and women’s rights activist who coined the term ‘birth control’ and worked towards its legalization† (â€Å"Margaret Sanger†). Margret was also responsible for the creation of the first planned parenthood center, and later was a founding member of the International Planned Parenthood Federation. Margret most notably belonged to the birth control movement, as she was a nurse working with women who were directly affected by the lack of child care options

Review of Medicine Literature Free Essays

Review of Literature How is health promotion defined? Health promotion is a process of enabling people to increase control over and improve their health (WHO, 2013). People involved in health promotion should consider the meaning of what do they think health means relating to themselves and to others. This will assist with clarifying outcomes and expectations (Edelman Mandle, 2010, p. We will write a custom essay sample on Review of Medicine Literature or any similar topic only for you Order Now 3). In order for health promotion to have a successful outcome, people must take control over all aspects of their health and life. People must be held accountable for their life decisions. Health promotion is the science of helping people change their lifestyle and behaviors. This paper will discuss the purpose of health promotion, the nursing roles and responsibilities, implementation methods, and a comparison of the three levels of health promotion prevention. Purpose of Health Promotion The purpose of health promotion is to provide education. The emergence with new computer technology allows for much more access to knowledge. The internet and smart phones have a vast base of information. It provides all forms of information. People can then make an informed decision. The ultimate goal of the health promotion model is to promote a sense of well-being, not just the absence of disease (â€Å"GCU,†2013, p. 1). Health promotion is used on the private level, the public level, and also the community level (Edelman Mandle, 2010.). These levels are all important for the educational process. Along with improving patient outcomes, health promotion helps to decrease the costs that are always increasing in healthcare. Nursing Roles and Responsibilities Nurses are responsible to educate patients in every aspect. They are  the primary care givers in the medical setting. The rapport that is developed leaves a lasting impression. They are able to discuss the positive aspects of prevention and how this can provide a better life for the patient. Nurses are advocates, consultants, care managers, educators, healers, and researchers. They are part of the multidisciplinary team that provides health promotion. Their roles and responsibilities develop gradually with the improvement of health. They educate in life changing activities with a holistic approach. This would include stress management, the introduction to healthy foods, the promotion of increased physical activity, the increased benefits of adequate sleep, the reduction of alcohol, and smoking cessation. Implementation Nurses implement health promotion by providing appropriate care to all patients. Culture and diversity should be taken into consideration. Nurses need to maintain the patients’ identity and privacy. They practice the code of moral principles and values. This is met by treating patients equal regardless of age, seriousness of disease, or different cultural background. Nurses can help implement programs. They can make patients aware of resources to provide a safe environment or a vaccination program for their children. Three Levels of Health Promotion There are three levels of health promotion. These levels are primary, secondary, and tertiary. Prevention is not only inclusive of health promotion and preventing diseases, but also curing them and limiting the progression of disease. There is no distinctive flow pattern between the three levels, but there is an overlap at times. These three levels will be discussed in relationship to three recent journal articles. Primary The primary level of health promotion is considered to be educational and preventative by nature. This is in process prior to a problem. The primary prevention article discusses motivational interviewing. Women have a lack of risk perception. Through screening, risk factors are brought to light. They should be screened for past medical history, family history, smoking, physical activity, and diet. Research suggests that women should be screened using the Framingham Risk Assessment  of 10-year Global Risk (Schroetter Peck, 2008, p. 109). This is a risk predictor. It calculates a woman’s chance for experiencing a heart attack. Nurses should also promote awareness by the various government programs such as WISEWOMAN and Go Red for Women. These are two campaigns that increase awareness of heart disease. Secondary Secondary prevention consists of early detection and diagnosis, timely treatment, and limiting disability. This would encompass mass screening surveys and selective examinations used to prevent, spread, and cure the disease process. Through limiting disabilities and providing the adequate treatment, the goal would be to prevent progression of the disease and the complications associated with the disease. Secondary prevention of stroke has focused on medical and surgical interventions. Healthcare professionals should use a multimodal approach, combining optimal medical therapies with interventions designed to support patients to make changes in lifestyle behaviors (Lawrence, Fraser, Woods, McCall, 2011, p. 42). This model consists of combining medical treatment (medications) with comprehensive dietary modifications and exercise. These medications would include aspirin, statins, and antihypertensives. Nurses need to have a good understanding of the risk factors for stroke. They should also know the recommendations for healthy lifestyle choices. Interventions should be tailored to each patient. Tertiary The tertiary level is the care and education given after the diagnosis of a disease. This level also includes restoration and rehabilitation. It also includes educating the public with selective placement and various work therapies in the hospital setting. There are many vaccines that can be considered a preventative measure for infectious diseases. Any vaccination can be given to an oncology patient if there are no contraindications. The influenza vaccination is an example that will be utilized. It is a recommendation for cancer patients. A first recommendation was made by a gynecologist. This was for the tertiary prevention with a patient with uterine cancer. Patients that are vaccinated have a significant longer survival period (Wiwanitkit, 2010, p. 339). The influenza vaccination can decrease the infection rate and mortality due to influenza. It has been  thought that oncology patients receive the vaccination. All three levels of health promotion are equal in that they educate. The difference in educating is related to the disease process and the patients’ willingness to learn. How to cite Review of Medicine Literature, Papers

Ethical issues at a glance Essay Example For Students

Ethical issues at a glance Essay Are the significant advances in technology making business today unethical? Technological innovations have clearly changed the face of commerce. Communication, entertainment, and routine daily activities have been altered by the mounting technology era. Recently, theft via technology has reached epidemic proportions. Where do legal restrictions draw the line? Several issues concerning the extent of technology trouble both the legal environment and consumers. Potential investors hesitate to pour their money and savings into such an unsure, unpredictable venue. The legal atmosphere is not definite, leaving many potential technological investments prone to lawsuits. Movie and music companies are particularly likely to request the intervention of the courts. Such cases as Napster paved the way of certainty; however, each case is so different and has not been explored yet. Many feel that the risks are simply too high. These uneasy feelings hurt the investment market for innovations. Liabilities abound, forcing the courts to set new standards. Companies are developing and marketing items that almost ask users to partake in illegal activity. Some argue that companies who generate products or software that are designed in which they can easily be misused should be held liableespecially if the product could have been designed to reduce the risk of exploitation. For example, many believe sites should be closed if the organization is aware that use rs are abusing the sites original purpose. Many corporations debate that not all potential infringements can be predicted beforehand. They claim that our ever-changing society is too erratic to guess the ways in which consumers may attempt to misuse products. If made law, though, guidelines would be nearly impossiblehence, placing all power in the hands of content industries. The many uncertainties and possible liabilities could hinder inventors from developing new products. Oftentimes, items are created, and then tweaked after hitting the market. If developers are too afraid of consequences, they might not push designs to the limits. This could deprive a growing society of prospective greatness.

Introduction on Tyco International Leadership Crisis -Free Sample

Questions: What role did Tycos corporate culture play in the scandal? How did Dennis Kozlowski have the opportunity to steal $137 million in unauthorized bonuses? Why is Kozlowski, now a prisoner for a long time, unrepentant about his conduct as CEO of Tyco? Answer: Introduction In the paper, the case analysis of Tyco International is to be discussed. It is being identified that the leadership crisis inside the company held responsible for its downfall. The leaders of the company do not realize the value of ethical leadership as far as functions and operations were concerned. The high level of fraud and hiding the actual position to the investors comes out to be the biggest crime. The people behind the scene were brought in the limelight and were sentenced imprisonment for a period of 25 years. The lack of ethical leadership results in high level of mismanagement and chaos. Moreover, it badly spoiled the reputation and credibility of the company (Martin, 2011). Tycos Corporate Culture Tycos corporate culture plays a chief role in the scandal. The person liable for this scam named Dennis Kozlowski, took on the CEO position with the intention to raise the level of personal profits. The decentralized nature of the power and development of his own board are all responsible for creating such issues. In this way, the corporate culture fails to assess his working area and the way he was making his own team conceal his wrong doings (Maxcy, 2002). The corporate culture does not give importance to the ethical leadership concept. In the absence of this concept, Kozlowski drew undue advantage of his position and develop the culture of hypocrisy. Due to this only, he carried upon all the fraudulent practices under the name of the company and whistleblowers were also stricken away from their positions in a planned manner (Goodenough, 2008). Opportunity Dennis Kozlowski has the opportunity to steal $137 million in unauthorized bonuses by making wrong use of the power. In the very initial, his conduct and sincere role towards company do not create any doubt in the mind of the investors. This backs up in getting on the CEO position and to win over the trust of the companys investors. Slowly and gradually, he becomes close to the companys business aspects and aware of the profitable avenues. The wrong use of the power and concealing the facts from the investors led to the stealing of the amount. Along with this, the misappropriation of the funds took place and get affirmed by the team of fraudulent people working under the concerning Board of the Company. Along with this, the auditors does not play their role effectively and honestly. All these together are the reasons behind giving Dennis an opportunity to carry upon such illicit activities (Bellingham, 2003). Unrepentant Kozlowski, now a prisoner for a long time, unrepentant about his conduct as CEO of Tyco. This comes out to be the situation and it really makes one feel bad about the same. His deeds were not at all well and that makes the company highly affected. Its revenues go on lowering down and badly impact trust of the investors. Dennis actual aim was just to raise the personal income and not thinking about the companys downfall. His greatest achievements made him offered stock of the company, and he makes wrong use of it (Sims, 2003). From that time only, his intentions took more bad shape, and he started playing games by forming his own board filled with officials that were also aimed to be a part of this scam. The only reason he is not sorry for his conduct was that he lacks morals and ethics in his behavior. His conscious do not allow him to figure out the difference between what is right and wrong (McMahon, 2004). Ethical Leadership and Corporate Culture The ethical leadership and corporate culture are the main areas that serve to be the cornerstone of the company. Its presence is very much necessary to help the key professionals move in a right direction and support the company to grow and prosper. Corporate culture is helpful to bind the workers with the company and to carry their duties accordingly. In the business world, these two hold great relevance and importance with regards to the accomplishment of the goals and objectives. The presence of these two aspects would surely aim to support the firm enhance and augment in the most positive way. In the business world, these two act as the role models and make the company members carry upon practices in the most decent and honest manner. The conduct of the members needs to be favorable on the part of the company (Leigh, 2013). Research The two companies to research on are Wal-Mart and McDonalds. In Wal-Mart, the global ethics can be very well seen and it is gaining an immense level of popularity. The company is having a worldwide presence and it moves forth with the concept of Global Ethics. According to this, the key features of the program are to act as a pathfinder and resource for ethical decision-making, maintaining privacy within the system of reporting, and works as an ethics education in an incessant manner. The same goes with the company McDonalds, it also gives a great level of importance to the ethical aspects. Ethical leadership together with the corporate culture is considered by making it a constituent of the company. This seems to be of great assistance to permit the workers to perform their duties towards their customers at its best. These two companies direct others to give importance to these concepts in an organizational format (Ethics Integrity, 2016). Conclusion Ethical leadership and the Corporate Culture are to bind with each other, such that the functioning goes on successfully and effortlessly. By doing this, it would automatically raise the image and character of the company in the most positive manner. It is a must from the part of the company members to understand the worth of ethics and morals. This has to be considered in the working procedure just to back up the firm maintain its enduring presence. Along with this, the employees would also serve well to the expectations of the company and making shareholders pleased with the level of performance and functioning. References Bellingham, R. (2003). Ethical Leadership: Rebuilding Trust in Corporations. Human Resource Development. Ethics Integrity. (2016). Retrieved from https://corporate.walmart.com/our-story/ethics-integrity Goodenough, P.L. (2008). Ethical Leadership, Values Congruence, and Work Place Deviance: An Exploratory Study. ProQuest. Leigh, A. (2013). Ethical Leadership: Creating and Sustaining an Ethical Business Culture. Kogan Page Publishers. Martin, R. (2011). Fixing the Game: How Runaway Expectations Broke the Economy, and How to Get Back to Reality. Harvard Business Review Press. Maxcy, S.J. (2002). Ethical School Leadership. Rowman Littlefield. McMahon, T.F. (2004). Ethical Leadership Through Transforming Justice. University Press of America. Sims, R.R. (2003). Ethics and Corporate Social Responsibility: Why Giants Fall. Greenwood Publishing Group.