Infant and Child Development Essay

This assignment will critically review Howlett, Kirk and Pine’s (2011) study, which aims to investigate whether attendance of gesturing classes affects parental stress. Howlett et al. , (2011) attempt to examine claims, advertised by commercial products, that believe attending gesturing classes can improve child-parent communications, thus reducing parental stress. Participants gave demographic information and completed a Parenting Stress Index (PSI) questionnaire. ANCOVA was used to look at whether attending gesturing classes affected parental stress, mothers attending a gesture group and mothers attending a non gesture group were compared; with ‘sibling status’ and ‘birth order’ controlled. Researchers found that mothers who attended infant gesture classes had higher stress scores than mothers who had attended non-gesturing classes. From these findings the following claims are made: that mothers in the gesture group had higher pre-existing stress than in the non gesture group, * that mothers attended gesturing classes in an attempt to alleviate their pre-existing stress, * that gesturing classes may cause mothers to view their child negatively. This critique will firstly provide an overall evaluation of the article with reference to strengths and weaknesses found. Flaws will also be highlighted with suggestion to how these could be rectified. Points of detail in the evaluation will then be expanded and conclusions di scussed. Overall evaluation First and foremost, the overall presentation of the article appears to lack in structure and organisation; this results in a lack of flow and clarity. In the introduction, the research question and key definitions of interest (i. e. ‘gesture, ‘non gesture’ and ‘stress’) are not discussed at the beginning. Characteristics of non gesturing mothers are instead firstly mentioned in the discussion section. The outline of categories in the background demographic questionnaire should have been made aware to readers in the methodology. Furthermore, in the results, findings from the study should have been stated in the opening paragraph. A fundamental flaw consistent throughout the article regards its lack of sufficient detail in ensuring strength of argument. In the introduction and discussion more research is needed in relation to how and why parental stresses occur to support findings. Furthermore unjustified claims are used to sustain argument which questions the validity of the research. The lack of detail regarding the direction of study also instigates ambiguity. More information is also needed about the procedure of the study so as to allow for replication. Further details as to how these flaws can be rectified are discussed later. Fundamental flaws are apparent regarding the non-random sample used and the lack of baseline stress measures. As no baseline pre-test has been conducted authors’ claims, as stated previously, can only be based on speculation. More information is provided on these flaws in the latter section. Strengths highlighted in the article include the demographic information provided. This information is useful as it allows for generalisation of results by ensuring groups are appropriately matched and offers useful information for future research in the region. (Keith, 2010). Furthermore the PSI questionnaire used, is well validated (Colver, 2006); using a creditable measuring instrument like this increases the reliability of the study. Moreover, the correct statistical test has been used, ANCOVA, and results are also provided with appropriate information. Abstract and Introduction The abstract fails to provide a rationale for the study; as this is unclear, readers may misjudge the subject matter. There is also no description of the stimuli used; the meaning of ‘gesturing’ is unexplained. Authors should elaborate upon what they mean by ‘gesturing’ so as to avoid misinterpretation. However, principal findings and design measures used in the study are stated. The introduction appears to lack in structure and organisation. No initial description of research question with reference to what it attempts to demonstrate is present; this is firstly mentioned in the third paragraph. Furthermore, authors first provide a definition of ‘gesturing’ in midpoint of this section. Considering this topic is the phenomenon of the study it would have been more appropriate to be stated at the beginning, rather than after the discussion of the benefits of gesturing; this may prevent misinterpretation. Although an explanation of ‘non-gesturing’ is provided in the discussion section, it would also be helpful for readers if it were included in the introduction; this enables differentiation between the two conditions. Similarly, a definition of the authors’ interpretation of ‘stress’ could have been stated at the start in ensuring readers’ clarity of terms. There is also no statement of hypothesis. nd authors do not provide a rationale or historical backdrop, therefore it lacks in significance and does not substantially contribute to the literature. Moreover, research discussed appears to be framed as a general review of literature and set out in list form with a lack of evaluation. For example, research has been described in relation to a study that has found no relationship between gesturing and linguistic benefits in infants (Kirk, Howlett, Pine and Fletcher), however it has not been evaluated or linked to the aims of the study. Furthermore, there are limited findings provided relating to the negative aspects of gesturing. Considering the paper is directed towards whether these classes affect parental stress, more research should be discussed in relation to the disapproval of gesturing classes, to support findings in the article. In addition, the article has included different research examples to support their view that parental stress can inhibit parent-child relationships, however there is no development in argument of how or why these stresses occur. To rectify, in ensuring clarity, more detail should be provided whereby these examples should be put in context with direct reference to the research question. Moreover, unjustified claims have been used in an attempt to sustain argument; for example, Howlett et al. , (2011) highlight ‘‘advertising claims that baby sign will reduce parental frustration and stress have little empirical foundation’. As this statement is not explained, it may seem misleading and as an ineffective use of argument. There is also no valid reference provided. In improving the structure and validity of their argument, authors should use evidence from influential papers to provide further detail in supporting their claims. The direction of study also appears ambiguous as authors switch between terms when stating the aim of the research. It is unclear whether authors are focusing on gesturing affecting stress or gesturing reducing stress. Howlett et al. , (2011) firstly state, ‘there are valid reasons to suggest that gesturing with an infant could reduce parental stress, this paper evaluates that claim’, (p. 438) they continue by stating, ‘this research investigates whether gesturing with an infant affects parenting stress’ (p438). One clear statement of what is being intended to measure needs to be used throughout the article so as to avoid confusion. The final paragraph includes a vague definition of variables whereby readers are left to determine their own assumptions. For example, it is stated that the frequency and duration of gesture use was used to measure the relationship between gesture use and stress, however it is unclear at this stage whether authors are implying ‘gesturing’ in terms of when mothers’ attended gesturing classes or their general use of gesturing; in and out of classes. The PSI is outlined, however researchers have not explained its benefits or why it have been use; this may leave readers questioning its credibility. Furthermore, it is important for researchers to include a statement of predictions, however this is not present. Methodology The authors recruited 178 participants (mothers) from the south-east of England; the sample size represents regional bias as mothers’ solely attending gesturing classes in this region is not representative of the whole country. Age range of infants used in the study is firstly mention in this section. It is stated infants ranged between 3 and 36months; however research discussed in the introduction only refers to the importance of gesturing from 9 months. Therefore authors have not justified the relevance of focusing on infants younger than 9 months; in certifying readers understanding, this could have been mentioned in the introduction. Authors have stated the measuring instruments used in the study. A strength regards the sufficient detail provided about the PSI booklet; examples of typical features such as the subscales of both the child and parent domains have been described. However no further details are provided about the background demographics questionnaire; categories are presented in the results section, however, it would be helpful for readers if details were included in this section. The potential confounding effects of using self-report questionnaires should also be noted. Social desirability bias may be apparent whereby participants may respond in a favourable light; mothers may not want to admit they are experiencing difficulties and respond untruthfully. Furthermore, as questionnaires are standardised, ambiguous questions cannot be explained; this may lead participants to misinterpret questions. Motivation for parents to complete questionnaires may also be scarce, resulting in superficial responses. In helping overcome these difficulties, authors could have stated whether participants were informed about why the information was collected and how the results will be beneficial; if participants knew the importance of their responses and were informed that negative responses were equally as helpful as positive, it may have made them want to answer more honestly. A fundamental flaw in methodology regards the fact that authors have not measured parental stress levels before conducting study. As there is no baseline stress measures prior to class attendance, there is no way of knowing if gesturing classes caused an increase in stress or what would have happened regardless of the implementation of the program; to rectify, researchers should use a pre-test methodology. Furthermore, another weakness in the methodology regards the fact that no ethic considerations are discussed. For example, authors could have included whether participant confidentiality was taken into account and whether de-briefing was offered subsequent to the study to respondents who may have expressed signs of upset. Description of procedures appears to lack in detail whereby there is no sequential pattern to how the research was carried out. There is also no precision in relation to what is investigated, to whom, and under what conditions. For example, Howlett et al. , (2011) state ‘contact was made with the infant groups’ (p. 39); more information should be provided such as how and when participants were contacted. Furthermore, no information is provided on how many classes parents had attended before the study or when the questionnaires took place; more sufficient detail is needed so as to allow replication and in ensuring consistency. There are also issues surrounding the amount of time participants were given to complete the PSI; it is stated the questionnaire takes approximately 30 minutes to complete, however, the procedure of collection differed between participants. Some gave completed questionnaires to a group leader, others were returned by post; the same conditions should be applied to all participants in ensuring standardisation. In addition, authors have not provided details of data collection or analysis undergone in the study; to avoid ambiguity it is important to include where the scores used in the analyses have derived from. An apparent fundamental flaw in the procedure relates to the fact that participants were not randomly allocated to the two groups in the study; randomisation is important as it eliminates sources of bias and ensures unpredictability. To rectify, random selection of mothers from a population could participate in the study. Results The beginning paragraph of the results is too vague; the hypothesis is not stated and no information on what statistical tests were used is provided. Furthermore, what the study found has not been not stated; it is firstly mentioned half way through this section. However, a strength in the article regards the demographic information provided for the two groups of mothers. Hours a week mothers’ work, maternal education, family income and siblings were included. It also highlights the similarities and equivalence between the two groups, making the interpretation of results valid. Another strength to this study regards the fact that researchers have applied the correct statistical tests. Two analyses of ANCOVA were conducted to measure the differences between the gesturing and non gesturing groups’ PSI scores. ANCOVA is appropriate to use as it allows to compare one variable (PSI stress scores) in two or more groups (gesture group and non gesture group) ith consideration for variability of other variables; covariates (‘sibling status’ was used as a covariate in the first ANCOVA and ‘birth order’; in the second). Controlling ‘sibling status’ and ‘birth order’ stops these conditions being confounding variables and ensures validity. As ‘sibling status’ and ‘birth control’ covariates have been controlled, it may have been more beneficial for readers if authors ma de aware of these strategies used prior to the results section as there is no discussion relating to siblings until this point. Results found from ANCOVA also confirm to readers exactly what the researchers were intending to measure; after confusion from the introduction, uncertainties are clarified and findings explain that the focus is upon whether attending gesturing classes affects parental stress. Results are also provided with adequate information whereby the obtained F value, df and level of significance have been stated. Furthermore researchers are correct in using a Pearson’s r correlation in confirming results which is used to see if there is a correlation between at two continuous variables. By doing so, it was found that there was no relationship between how long or often gesture groups mothers had been gesturing with their infant, and the mothers’ total stress scores. Therefore mothers stress levels were unrelated to frequency and duration. Furthermore, in this section descriptive statistics have been provided in two separate tables. In ‘Table One’, which shows the ‘mean (S. D) stress scores for each item on the PSI by group’, data does not seem to be explained in full. The scale used is unclear and readers have not been informed on the system used whereby there is confusion as to what the numbers mean. Tables 2 which shows the ‘summary of two ANCOVA results’, is more coherent as a brief description is displayed underneath describing the covariates. Discussion In this section, yet again, the aim of the research remains unclear; it is stated ‘the aim of the study was to investigate the impact of gesturing with an infant upon parental stress’ (p442), authors need to be more specific in their interpretation of ‘gesturing’, whether they are referring to attendance of gesturing classes or general use of gesturing is uncertain. Possible explanations for findings have been discussed, such as the view that there may have been a difference between gesturing and non gesturing mothers due to gesturing mothers feeling more stressed prior to the study. Authors continue by suggesting these mothers chose to attend gesturing classes because of these feelings of stress in hope that they would help. However, authors’ claims can only be seen as speculation as no baseline measurement was used. It should be noted that researchers have evaluated their findings and acknowledged that as baseline measures are not present, no assumptions can be made as to why mothers who attended gesturing classes had increased stress levels compared to non gesturing mothers or whether they were more stressed before attending the classes. Due to the lack of solid findings, like in the introduction, groundless claims have been used in an effort to uphold argument in explaining mothers’ cause of stress. For example, it is stated ‘mothers have high aspirations for their child and the parenting industry may, albeit unwittingly, foster maternal insecurities’(p443); no justification has been provided for this claim. Moreover, additional research is needed to support the authors’ concluding claims that attending gesturing classes may be detrimental and effect mothers’ perception of their infant in a negative light. Only Hyson’s (1991) study relating to mothers who induced academically focused activities on preschool children has been used as evidence to back up this claim, this does not justify the authors’ inflated claims. To conclude, even though this article has used creditable measuring instruments and appropriate statistical tests, Howlett et al’s claims can only be seen as speculation as no pre-test baseline is used. No findings can be validated without measuring the stress levels of mothers prior to class attendance, whether increase in stress has occurred due to attending gesturing classes in unknown. For future recommendations, authors could use a baseline measures to test mothers’ stress scores prior to the study.

About Stress and Health

Life is full of frustrations, deadlines, and demands. Unfortunately stress can be an outcome of all of those things. Stress can be defined as a change that causes emotional, physical, psychological strain. It is a reaction to a sense of danger whether it is real or imagined. The stress response is the body’s way of trying to protect you. Stress tends to affect all aspects of wellness. Things like money, work, family, relationships all play a role in having stress problems.Not only does stress affect your health but it also affects your body, thoughts, feelings and behavior. FACT: Stress hormones slow down the release of stomach acid which affects how well your stomach can empty itself. Higher levels of stress can cause high blood pressure and raise cholesterol levels as well. I did not know this but stress can also influence your immune system; which is something important because it slows everything down making it easier to catch colds and infections.Stress releases cortisol into the body. Cortisol makes people crave fats and carbohydrates causing weight gain in the abdominal area. FACT: Having an argument with a loved one when stressed is equivalent to a life-or-death situation. Who would have known that something so small could end up so serious? So many symptoms come into play when dealing with stress. For example cognitive symptoms which are mental symptoms include memory problems, inability to concentrate, constant worrying, racing and anxious thoughts.Emotional symptoms include moodiness, irritability, and feeling overwhelmed. Physical symptoms include aches and pains, chest pain or rapid heartbeat and nausea. Finally, behavioral symptoms include eating more/less, sleeping too little/much, using alcohol, cigarettes, and drugs to relax. None of the things listed above are something that people want to face in their everyday lives but sometimes it happens to the best of us. Influencing your stress tolerance is very important in overcoming any stress related problems.First you need a supportive network. Friends and family that are supportive of your decisions and who you are as a being are extremely important. Next is a sense of control. You need to be able to be confident in yourself with every decision you make and obstacle you face. You also need to have an optimistic attitude, embrace challenges, have a strong sense of humor, accept change as a part of life, and believe in a higher power and purpose. Being negative about life and the things around you will just bring you down.When dealing you’re your emotions you need to be able to bring them back to balance. Also making things easy to cope with and keeping that positive attitude are important. Although there are many negatives when it comes to stress there are also some positive things as well. When working properly it can help you stay focused and energetic. Also it can prevent you from accidents; like when slamming on the brakes to avoid an accident. Stress is wha t tends to keep people on their toes and help people rise to meet their challenges.Stress is a huge thing that can take over a person’s behavior and emotions. No one ever really thinks that being stressed can cause such big problems and it can. Although it does have its good things stress tends to be mainly a negative thing on the wellness of people. Staying positive and finding a way for us to relax is a way that can get rid of all the stress. Relaxation is key! Stress is in everyday life situation for individuals and will be around as long as we still have our everyday struggles.

Current Issues Paper and Class Handout Essay

As one of the most popular religions in the entire world, Buddism is believed to be originated by Siddhattha Gotama, also referred to as Siddhartha Gautama, 2500 years ago in Northern India (â€Å"Religious Tolerance†, 2015). More than 75% of its followers are from the Far East. Burma, Korea, Japan, China and Sri Lanka are places where Buddhism is commonly practiced (Molloy, 2010). Common Characteristics Although Buddhism is a major, strong religion on its own, it does share some similarities with other religions of the world. Hinduism is the one religion Buddhism probably shares the most similarities with. They share commonality on issues of reincarnation, enlightenment, salvation, suffering and yoga practices (Molloy, 2010). Reincarnation: the way you live presently will determine the worth of your reincarnated life. So if you live an honorable life now, you’ll be rewarded in reincarnation, vice versa. Enlightenment: both religion philosophies agree there’s no one path to achieve enlightenment. The paths are vast and can be attained through the mastering of one’s six senses. Salvation: can only be achieved individually and taking full responsibility of your own fate and the actions you take in your life. Suffering: is caused by materialism or becoming attached to things in and of the world we live in excessively. Yoga: both religions believe concentration and meditation promotes liberation and the path to enlightenment. Buddhism also shares a few similarities with Jainism. For example, each religion believes Nirvana is a state of becoming nothing, by freeing yourself from the world and rebirth. However, in state of non-being is referred to as ‘sunya’ in Buddhism and ‘moksha’ in Jainism. Modern World Challenges At the turn of the 19th and 20th centuries, new opportunities, as well as challenges, needed to be addressed by Buddhism as a religion. Cultural and religious patterns were being affected and across regions at the expense of the pre-modern Buddhist world (â€Å"Encyclopedia Britannica â€Å", 2014). Westernization began to settle in a lot of Buddhist countries due to conquests. Economic, political, cultural and religious influence from the west was becoming heavy. All across Asia the everyday life and thoughts of Buddhist communities became infused with notions of socialism and liberal democracy, modern rationalistic and scientific thinking and modern capitalistic economies. Also, Buddhism, as a religion started to reappear in communities it previously flourished many years ago. Buddhism rapidly moved into the west and prospered with new developments, which energized the Buddhism religion back in Asia (â€Å"Encyclopedia Britannica â€Å", 2014). Women In Buddhism Women have fully been permitted to participate in a religious community since the early days of Buddhism. But they were bound by restrictions, since they’ve typically been look upon as being inferior to men (â€Å"Buddhist Studies†, 2008). Discrimination within their religion is an obstacle women have consistently been faced with. In some cases nuns actually have to bow to a monk. Originally, Buddha felt allowing women to be part of the religious institutions, as ordained nuns, decreases the importance of his teachings, as well as how long his teachings would remain relevant (Sri Dhammananda Maha Thera, n.d.). Buddha restricted all ordained nuns to be subordinate to monks once he allowed them  to become nuns. In Buddhism, women continually referred to as the reason for man’s sins and the sins of the world. Often depicted as a temptress and the blame for man’s misfortunes, in Buddhism men are warned about women. Some feel being reincarnated as a man it pr obably the only way a woman will get salvation. Buddha’s radical decision to allow women into the Holy Order allowed women to show they to reach or attain enlightenment, the highest place in the religion, just as a man can (Sri Dhammananda Maha Thera, n.d.). In Buddhist communities, today women are forcibly establishing their roles. Both internationally and within the U.S., a more formal role of women within the Buddhist culture is becoming more of a reality, thanks to the nuns and teachers in Buddhism of today (â€Å"The Pluralism Project†, 2006). Social activism for Buddhist women is an important tool or creative instrument in promoting their connection with other human beings and the earth. Scholarly women are getting their messages and thoughts heard inside and outside of the classroom to inspire other women and young people of Buddhism. Women who are discovering new and innovative ways to communicate and inspire people of the Buddhism community will shape the future of Buddhism around the world. (â€Å"The Pluralism Project†, 2006). References Buddhist Studies. (2008). Retrieved from http://www.buddhanet.net/e-learning/history/position.htm ncyclopedia Britannica . (2014). Retrieved from http://www.britannica.com/EBchecked/topic/83184/Buddhism/68769/Buddhism-in-the-contemporary-world Sri Dhammananda Maha Thera, Venerable K. (n.d.). What Buddhists Believe. Retrieved from http://www.budsas.org/ebud/whatbudbeliev/227.htm The Pluralism Project. (2006). Retrieved from http://pluralism.org/reports/view/46 Religious Tolerance. (2015). Retrieved from http://www.religioustolerance.org/buddhism5.htm Molloy, Michael. Experiencing the World’s Religions. 5th ed. NY: McGraw, 2010. Print.

Profit Maximization Model

SAMPLE ANSWER FOR QUESTION 5 Profit-making is one of the most traditional, basic and major objectives of a firm. Profit-motive is the driving-force behind all business activities of a company. It is the primary measure of success or failure of a firm in the market. Profit earning capacity indicates the position, performance and status of a firm in the market. In spite of several changes and development of several alternative objectives, profit maximization has remained as one of the single most important objectives of the firm even today.Both small and large firms consistently make an attempt to maximize their profit by adopting novel techniques in business. Specific efforts have been made to maximize output and minimize production and other operating costs. Cost reduction, cost cutting and cost minimization has become the slogan of a modern firm. It is a very simple and unambiguous model. It is the single most ideal model that can explain the normal behavior of a firm. Main proposit ions of the profit-maximization model The model is based on the assumption that each firm seeks to maximize its profit given certain technical and market constraints.The following are the main propositions of the model. 1. A firm is a producing unit and as such it converts various inputs into outputs of higher value under a given technique of production. 2. The basic objective of each firm is to earn maximum profit. 3. A firm operates under a given market condition. 4. A firm will select that alternative course of action which helps to maximize consistent profits 5. A firm makes an attempt to change its prices, input and output quantity to maximize its profit. The model Profit-maximization implies earning highest possible amount of profits during a given period of time.A firm has to generate largest amount of profits by building optimum productive capacity both in the short run and long run depending upon various internal and external factors and forces. There should be proper balan ce between short run and long run objectives. In the short run a firm is able to make only slight or minor adjustments in the production process as well as in business conditions. The plant capacity in the short run is fixed and as such, it can increase its production and sales by intensive utilization of existing plants and machineries, having over time work for the existing staff etc.Thus, in the short run, a firm has its own technical and managerial constraints. But in the long run, as there is plenty of time at the disposal of a firm, it can expand and add to the existing capacities build up new plants; employ additional workers etc to meet the rising demand in the market. Thus, in the long run, a firm will have adequate time and ample opportunity to make all kinds of adjustments and readjustments in production process and in its marketing strategies. It is to be noted with great care that a firm has to maximize its profits after taking in to consideration of various factors in to account.They are as follows – 1. Pricing and business strategies of rival firms and its impact on the working of the given firm. 2. Aggressive sales promotion policies adopted by rival firms in the market. 3. Without inducing the workers to demand higher wages and salaries leading to rise in operation costs. 4. Without resorting to monopolistic and exploitative practices inviting government controls and takeovers. 5. Maintaining the quality of the product and services to the customers. 6. Taking various kinds of risks and uncertainties in the changing business environment. . Adopting a stable business policy. 8. Avoiding any sort of clash between short run and long run profits in the business policy and maintaining proper balance between them. 9. Maintaining its reputation, name, fame and image in the market. 10. Profit maximization is necessary in both perfect and imperfect markets. In a perfect market, a firm is a price-taker and under imperfect market it becomes a price -searcher. Assumptions of the model The profit maximization model is based on tree important assumptions. They are as follows – 1.Profit maximization is the main goal of the firm. 2. Rational behavior on the part of the firm to achieve its goal of profit maximization. 3. The firm is managed by owner-entrepreneur. Determination of profit – maximizing price and output Profit maximization of a firm can be explained in two different ways.  ·Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Total Revenue and Total Cost approach.  ·Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Marginal Revenue and Marginal Cost approach. Profits of a firm are estimated by making comparison between total revenue and total costs. Profit is the difference between TR and TC.In other words, excess of revenue over costs is the profits. Profit = TR – TC. If TR is equal to TC in that case, there will be break even point. If TR is less than TC, in that case, a firm will be incurring losses. In this case, we take in to account of total cost and total revenue of the firm while measuring profits. It is clear from  the following diagram how profit arises when TR is greater than that of TC. 2. MR and MC approach In this case, we take in to account of revenue earned from one unit and cost incurred to produce only one unit of output.A firm will be maximizing its profits when MR= MC and MC curve cuts MR curve from below. If MC curve cuts MR curve from above either under perfect market or under imperfect market, no doubt MR equals MC but total output will not be maximized and hence total profits also will not be maximized. Hence, two conditions are necessary for profit maximization- 1. MR = MC. 2. MC curve cut MR curve from below. It is clear from the following diagrams. Justification for profit maximization 1. Basic objective of traditional economic theory.The traditional economic theory assumes that a firm is owned and managed by the entrepreneur himself and as such he always aims at maximum return on his capit al invested in the business. Hence profit-maximization becomes the natural principle of a firm. 2. A firm is not a charitable institution. A firm is a business unit. It is organized on commercial principles. A firm is not a charitable institution. Hence, it has to earn reasonable amount of profits. 3. To predict most realistic price-output behavior. This model helps to predict usual and general behavior of business firms in the real world as it provides a practical guidance.It also helps in predicting the reasonable behavior of a firm with more accuracy. Thus, it is a very simple, plain, realistic, pragmatic and most useful hypothesis in forecasting price output behavior of a firm. 4. Necessary for survival. It is to be noted that the very existence and survival of a firm depends on its capacity to earn maximum profits. It is a time-honored hypothesis and there is common agreement among businessmen to make highest possible profits both in the short run and long run. 5. To achieve ot her objectives.In recent years several other objectives have become much more popular and all these objectives have become highly relevant in the context of modern business set up. But it is to be remembered that they can be achieved only when a firm is making maximum profits. Criticisms 1. Ambiguous term. The term profit maximization is ambiguous in nature. There is no clear cut explanation whether a firm has to maximize its net profit, total profit or the rate of profit in a business unit. Again maximum amount of profit cannot be precisely defined in quantitative terms. . It may not always be possible. Profit maximization, no doubt is the basic objective of a firm. But in the context of highly competitive business environment, always it may not be possible for a firm to achieve this objective. Other objectives like sales maximization, market share expansion, market leadership building its own image, name, fame and reputation, spending more time with members of the family, enjoying leisure, developing better and cordial relationship with employees and customers etc. lso has assumed greater significance in recent years. 3. Separation of ownership and management. In many cases, to-day we come across the business units are organized on partnership or joint stock company or cooperative basis. In case of many large organizations, ownership and management is clearly separated and they are run and managed by salaried managers who have their own self interests and as such always profit maximization may not become possible. 4. Difficulty in getting relevant information and data.In spite of revolution in the field of information technology, always it may not be possible to get adequate and relevant information to take right decisions in a highly fluctuating business scenario. Hence, profits may not be maximized. 5. Conflict in inter-departmental goals. A firm has several departments and sections headed by experts in their own fields. Each one of them will have its own independent goals and many a times there is possibility of clashes between the interests of different departments and as such always profits may not be maximized. 6. Changes in business environment.In the context of highly competitive and changing business environment and changes in consumer’s tastes and requirements, a firm may not be able to cope up with the expectations and adjust its policies and as such profits may not be maximized. 7. Growth of oligopolistic firms. In the context of globalization, growth of oligopoly firms has become so common through mergers, amalgamations and takeovers. Leading firms dominate the market and the small firms have to follow the policies of the leading firms. Hence, in many cases, there are limited chances for making maximum profits. 8.Significance of other managerial gains. Salaried managers have limited freedom in decision making process. Some of them are unable to forecast the right type of changes and meet the market challenges. They are more worried about their salaries, promotions, perquisites, security of jobs, and other types of benefits. They may lack strong motivations to make higher profits as profits would go to the organization. They may be contented with only satisfactory level of profits rather than maximum profits. 9. Emphasis on non-profit goals. Many organizations give more stress on non-profit goals.From the point of view of today’s business environment, productivity, efficiency, better management, customer satisfaction, durability of products, higher quality of products and services etc. have gained importance to cope with business competition. Hence, emphasis has been shifted from profit maximization to other practical aspects. 10. Aversion to reduction in power. In case of several small business units, the owners do not want to share their powers with many new partners and hence, they try to keep maximum powers in their hands.In such cases, keeping more power becomes more important than profit maximization. 11. Official restrictions over profits of public utilities. Public utilities or public corporations are legally prohibited to make huge profits in many developing countries like India. Thus, it is clear that a firm cannot maximize its profits always. There are many constraints in the background of multiple objectives. Each one of the objectives has its own merits and demerits and a firm has to strike a balance between all kinds of objectives.

A Routine Day Essay Sample

It’s bright and I can’t see much. I hear my small sister following close behind me. The same ritual everyday it has become a wont. it is like this modus operandi is etched into my tegument. I don’t believe about what I’m making and I what I’m traveling to make it’s like the musculuss have remembered. what I do exactly. â€Å"onee-chan. onee-chan† she says ah there it is that angel like voice its Wyrd but that voice is the lone thing I respond to these yearss. I turn about and at that place she is waiting for me to state something back. â€Å"yes kazuya-chan is at that place something you need? † I inquiry. She replies â€Å"No† I don’t understand why she calls me. I have some thoughts but all of them seem stupid. I didn’t even notice but I have started walking kazuya’s keeping my manus. Its quite loud this forenoon the autos are rushing through the busy roads of Tokyo with the brutality of Wolfs in the center of a Hunt and the grace of a swan. We reach kazuya’s school. â€Å"Ok kazuya here’s your tiffin and I will pick you up after school. Ok? † I say She rolls her eyes at me and says â€Å"I know onee-chan im non a small miss any longer I’m in Junior high. † I laugh. â€Å"I know you’re non a small miss any longer but i still worry about you and i ever will. † I hug her and so retrieve that it is her shuting graduation this afternoon. â€Å"actually i’ll be here early to watch you graduate your first twelvemonth of junior high. † I see a big smile appear on her face and she says â€Å"Thanks Onee-chan. † before running off to run into up with her friends. I linger around non desiring to go forth but i know Is have to and i start aimlessly traveling towards work. I stop I can hear a weak voice naming out my name. As one turn around Ayame my clumberson work spouse runs in to me. I get up express joying. â€Å"You truly necessitate to halt running in to me in the forenoon. it’s like you are making it on intent. †

Impact of financial crysis into international economy Essay

Impact of financial crysis into international economy - Essay Example In addition, there is a global credit crunch that has paralyzed economic development in the third world countries as well as slowing down the economic growth rates of the developed countries. Furthermore, both the first and third world countries have reported an increase in the rate of unemployment and poverty. There has also been a nosedive in exports, investment and asset markets (Healy and Palepu 13). Therefore, with the aim of studying the impact of financial crisis into international economy this article will outline its causes, consequences and the impact of the credit crunch. CAUSES OF THE GLOBAL FINANCIAL CRISIS (GFC) According to most economists, the current economic crunch is the worst kind of financial crisis that the world has faced so far since the Great Depression of the 1930s (BWND ch. 1).. The root cause of the credit crunch is related to the development of the US housing bubble that rapidly occurred between 2005 and 2006. This resulted to an increase in the number of default rates of the adjustable rate mortgages (ARM) and subprime (Calomiris 6-52). This is because the banking institutions were willing and readily gave out loans to investors to purchase real estate property. Investors were encouraged to apply for high loans believing that they would settle them within a short time (BWND ch. 3). Investors applied for loans with ignorance of the interest rates. In fact, investors could easily access a plethora of loans including credit card, mortgage and auto which lured them to apply for the loans without considering the unprecedented load that would be caused by the debt. There were also a myriad of financial agreements including collateralized debt obligations (CDO) and mortgage-backed securities (MBS) which stipulated a more friendly strategy for settling the debt (Salmon ch. 5). This was a marketing strategy that encouraged investors from all over the world to venture in the US housing market. Moreover, the US federal bureau had monitored th e interest rates since 1982 to ensure they were steadily decreasing. The easy access to foreign funds encouraged investors to undertake the loans for fuelling the housing construction projects (Healy and Palepu 13). Come the year 2007, interest rates increased with an outrageous margin resulting to a decrease in the housing prices. Conversely, most investors were adversely affected since raising money became increasingly difficult. Within a short time there was an increase in the number of foreclosed real estate properties. Also most of the global financial institutions that had invested heavily on the financial agreements incurred huge losses. This led to the erosion of financial strength for banking institutions. As a result there was a worldwide drain of wealth which led to an increase in poverty levels. In addition, there were an increased number of loan defaulters and not only in the housing sector but also in other economic sectors resulting to unbearable losses that cost the globe trillions of dollars (Calomiris 6-52). Another factor that resulted to the growth of the credit crunch is the financialization process. The US credit and housing bubble rapidly expanded the international financial stability until it became fragile and susceptible to a wide array of risks. This is because financial institu

The High Court, The Crown Court and Magistrates Court Essay

The High Court, The Crown Court and Magistrates Court - Essay Example As district judges are legally trained, they can work through case quicker, and have better technical and legal knowledge(Daryl Williams, 2001, p.146). Lay Magistrates can also be referred to as 'justices of the peace'. The Lord Chancellor appoints JP's. This is officially done beneath a document called 'commission of the peace'. This is carried out in two ways. moreover in respect of counties, where it is beneath the advice of the lord lieutenant of the county and help by the advisory committee, or in respect of urban areas. In this case, it is on suggestion of the advisory committee only(Anthony Blackshield, 2000, p.428). No doubt, these committees were kept clandestine, until 1992, but have since been re-published so that all names are renowned. The Lord Chancellor has to take into account that the panel has a wide-cross part. This means that there be supposed to be a diversity of dissimilar people from dissimilar ethnic and social backgrounds. This is to make sure that the panel of JP's is delegate of all possible defendants, and all feature of society(Michael White, p. 152). In order to become a JP, it is important to be reliable and committed. The lay people must either live or work, within a 15-mile radius of the area being scrutinized on behalf of the defendant. JP's must also be able to sit in court for a minimum of 26 sessions-one session making up one half day. The lay people are not paid, therefore they are reimbursed for loss of earrings, travel expenses and lunch etc. it is vital for lay people to be aged between 21 and 65, although there are not may 21 year old JP'S and the youngest age usually ranges from 26-27. This is due to lack of life experience. Above all it is important for the potential JP'S to not have a criminal record this refers to bankruptcy, theft, tax etc(Enid Campbell, 2001, p.95). Critical Analysis Of The Use Of Magistrates Courts There are lots of advantages of having lay magistrates. As they are not paid, the government save money. The magistrate's court is therefore contemptible to run. It would be extremely luxurious for the courts otherwise, to hire legally trained judges. The magistrates are usual people. They have understanding of the kind of live the defendants have. This variety of people shows that there is more of a representation (Cracknell DG). The judiciary is made up of a wider cross-section. 45% are women. though there are not numerous ethnic minorities there are still a vast amount, and the numbers are rising. The magistrates also get hold of local knowledge. As they live inside 15 miles of the area, they know what the circumstances re like, and they are aware of certain difficulty so they can empathize with the people(Anthony Blackshield, pp.427-28). There are also some disadvantages to. Sometimes, as the lay people are described as being 'middle class, middle aged and middle minded' they do not always cover a very wide cross-section of the real, for example if there was young defendant on trail, the older lay people wouldn't be able to fully understand him, and his thought and feeling (Zander M). This would be bad, as the younger people would be treated unfairly. There will be little common with the younger defendants and the older lay magistrates. Although a