Matching Leadership Style to a Situation Essay

MATCHING LEADERSHIP TO A SITUATION Leadership Styles Choosing the Right Style for the Situation From Mahatma Gandhi and Winston Churchill to Martin Luther King and Steve Jobs, there can seem to be as many ways to lead people as there are leaders. Fortunately, businesspeople and psychologists have developed useful, simple ways to describe the main styles of leadership. By understanding these styles and their impact, you can develop your own approach to leadership and become a more effective leader and school head as well. We’ll look at common leadership styles in this article, and we’ll explore situations where these styles may be effective with your people. (Note: The leadership styles in this article are based on several core leadership frameworks.) Adapting Your Approach to Leadership Leadership is not â€Å"one size fits all† thing; often, you must adapt your style to fit a situation or a specific group. This is why it’s useful to gain a thorough understanding of other leadership styles; after all, the more approaches you’re familiar with, the more tools you’ll be able to use to lead effectively. Let’s take a deeper look at some of the leadership styles that you can use. 1. Transactional Leadership This leadership style starts with the idea that team members agree to obey their leader when they accept a job. The â€Å"transaction† usually involves the organization paying team members in return for their effort and compliance. The leader has a right to â€Å"punish† team members if their work doesn’t meet an appropriate standard. Although this might sound controlling and paternalistic, transactional  leadership offers some benefits. For one, this leadership style clarifies everyone’s roles and responsibilities. Another benefit is that, because transactional leadership judges team members on performance, people who are ambitious or who are motivated by external rewards – including compensation – often thrive. The downside of this leadership style is that team members can do little to improve their job satisfaction. It can feel stifling, and it can lead to high staff turnover. Transactional leadership is really a type of management, not a true leadership style, because the focus is on short-term tasks. It has serious limitations for knowledge-based or creative work. However, it can be effective in other situations. 2. Autocratic Leadership Autocratic leadership is an extreme form of transactional leadership, where leaders have complete power over their people. Staff and team members have little opportunity to make suggestions, even if these would be in the team’s or the organization’s best interest. The benefit of autocratic leadership is that it’s incredibly efficient. Decisions are made quickly, and work gets done. The downside is that most people resent being treated this way. Therefore, autocratic leadership often leads to high levels of absenteeism and high staff turnover. However, the style can be effective for some routine and unskilled jobs: in these situations, the advantages of control may outweigh the disadvantages. Autocratic leadership is often best used in crises, when decisions must be made quickly and without dissent. For instance, the military often uses an autocratic leadership style; top commanders are responsible for quickly making complex decisions, which allows troops to focus their attention and energy on performing their allotted tasks and missions. 3. Bureaucratic Leadership Bureaucratic leaders work â€Å"by the book.† They follow rules rigorously, and ensure that their people follow procedures precisely. This is an appropriate leadership style for work involving serious safety risks (such as working with machinery, with toxic substances, or at dangerous heights) or where large sums of money are involved. Bureaucratic leadership is also useful in organizations where employees do routine tasks (as in manufacturing). The downside of this leadership style is that it’s ineffective in teams and organizations that rely on flexibility, creativity, or innovation. Much of the time, bureaucratic leaders achieve their position because of their ability to conform to and uphold rules, not because of their qualifications or expertise. This can cause resentment when team members don’t value their expertise or advice. 4. Charismatic Leadership/ Pace-setting Leadership A charismatic leadership style can resemble transformational leadership because these leaders inspire enthusiasm in their teams and are energetic in motivating others to move forward. This excitement and commitment from teams is an enormous benefit. The difference between charismatic leaders and transformational leaders lies in their intention. Transformational leaders want to transform their teams and organizations. Charismatic leaders are often focused on themselves, and may not want to change anything. The downside to charismatic leaders is that they can believe more in themselves than in their teams. This can create the risk that a project or even an entire organization might collapse if the leader leaves. A charismatic leader might believe that she can do no wrong, even when others are warning her about the path she’s on; this feeling of invincibility can ruin a team or an organization. Also, in the followers’ eyes, success is directly connected to the presence of the charismatic leader. As such, charismatic leadership carries great responsibility, and it needs a long-term commitment from the leader. 5. Democratic/Participative Leadership Democratic leaders make the final decisions, but they include team members in the decision-making process. They encourage creativity, and team members are often highly engaged in projects and decisions. There are many benefits of democratic leadership. Team members tend to have high job satisfaction and are productive because they’re more involved in decisions. This style also helps develop people’s skills. Team members feel in control of their destiny, so they’re motivated to work hard by more than just a financial reward. Because participation takes time, this approach can slow decision-making, but the result is often good. The approach can be most suitable when working as a team is essential, and when quality is more important than efficiency or productivity. The downside of democratic leadership is that it can often hinder situations where speed or efficiency is essential. For instance, during a crisis, a team can waste valuable time gathering people’s input. Another downside is that some team members might not have the knowledge or expertise to provide high quality input. 6. Laissez-Faire Leadership This French phrase means â€Å"leave it be,† and it describes leaders who allow their people to work on their own. This type of leadership can also occur naturally, when managers don’t have sufficient control over their work and their people. Laissez-faire leaders may give their teams complete freedom to do their work and set their own deadlines. They provide team support with resources and advice, if needed, but otherwise don’t get involved. This leadership style can be effective if the leader monitors performance and gives feedback to team members regularly. It is most likely to be effective when individual team members are experienced, skilled, self-starters. The  main benefit of laissez-faire leadership is that giving team members so much autonomy can lead to high job satisfaction and increased productivity. The downside is that it can be damaging if team members don’t manage their time well or if they don’t have the knowledge, skills, or motivation to do their work effectively. 7. Task-Oriented Leadership Task-oriented leaders focus only on getting the job done and can be autocratic. They actively define the work and the roles required, put structures in place, and plan, organize, and monitor work. These leaders also perform other key tasks, such as creating and maintaining standards for performance. The benefit of task-oriented leadership is that it ensures that deadlines are met, and it’s especially useful for team members who don’t manage their time well. However, because task-oriented leaders don’t tend to think much about their team’s well-being, this approach can suffer many of the flaws of autocratic leadership, including causing motivation and retention problems. 8. People-Oriented/Relations-Oriented Leadership With people-oriented leadership, leaders are totally focused on organizing, supporting, and developing the people on their teams. This is a participatory style and tends to encourage good teamwork and creative collaboration. This is the opposite of task-oriented leadership. People-oriented leaders treat everyone on the team equally. They’re friendly and approachable, they pay attention to the welfare of everyone in the group, and they make themselves available whenever team members need help or advice. The benefit of this leadership style is that people-oriented leaders create teams that everyone wants to be part of. Team members are often more productive and willing to take risks, because they know that the leader will  provide support if they need it. The downside is that some leaders can take this approach too far; they may put the development of their team above tasks or project directives. 9. Servant Leadership This term, created by Robert Greenleaf in the 1970s, describes a leader often not formally recognized as such. When someone at any level within an organization leads simply by meeting the needs of the team, he or she can be described as a â€Å"servant leader.† Servant leaders often lead by example. They have high integrity and lead with generosity. In many ways, servant leadership is a form of democratic leadership because the whole team tends to be involved in decision making. However, servant leaders often â€Å"lead from behind,† preferring to stay out of the limelight and letting their team accept recognition for their hard work. Supporters of the servant leadership model suggest that it’s a good way to move ahead in a world where values are increasingly important, and where servant leaders can achieve power because of their values, ideals, and ethics. This is an approach that can help to create a positive corporate culture and can lead to high morale among team members. However, other people believe that in competitive leadership situations, people who practice servant leadership can find themselves left behind by leaders using other leadership styles. This leadership style also takes time to apply correctly: it’s ill-suited in situations where you have to make quick decisions or meet tight deadlines. Although you can use servant leadership in many situations, it’s often most practical in politics, or in positions where leaders are elected to serve a team, committee, organization, or community. 10. Transformational Leadership/Visionary Leadership Transformational leaders are inspiring because they expect the best from everyone on their team as well as themselves. This leads to high  productivity and engagement from everyone in their team. The downside of transformational leadership is that while the leader’s enthusiasm is passed onto the team, he or she can need to be supported by â€Å"detail people.† That’s why, in many organizations, both transactional and transformational leadership styles are useful. Transactional leaders (or managers) ensure that routine work is done reliably, while transformational leaders look after initiatives that add new value. It’s also important to use other leadership styles when necessary – this will depend on the people you’re leading and the situation that you’re in. Conclusion: Three factors that influence which leadership style to use 1.The school head’s personal background: †¢What personality, knowledge, values, ethics, and experiences does the school head have? †¢What does he or she think will work? 2.Teachers being supervised: Teachers with different personalities and backgrounds; The leadership style used will vary depending upon the individual teacher and what he or she will respond best to. 3.The organization: The traditions, values, philosophy, school vision and mission, concerns of the organization and all situational factors influence how a school head acts No one style of leadership fits all situations. All situations are different. What you do in one situation will not always work in another. There are many leadership styles from which to choose. Different styles were needed for different situations and each leader needed to know when to exhibit a particular approach so it helps to have an understanding of other styles. A leader must use his or her judgment to decide the best course of action and the leadership style needed for each situation. For example you may need to confront a teacher for inappropriate behavior, but the confrontation is too late or too early, too harsh or too weak, then the results may prove ineffective. By learning about the pros and cons of each style, one can adapt an approach to a situation. Also note that the situation normally has a greater effect on a leader’s action than his or  her traits. This is because while traits may have an impressive stability over a period of time, they have little consistency across situations. As a school head he or she must be a Task-oriented Leader to perform best in situations of high and low control, and a Relationship-oriented Leader to perform best in moderate control situations. Behavior is a mirror in which Everyone shows his image.

Promotional Process for the Fire Department Essay

Promotion process is an activity that is conducted in a given frequency in order that individuals in the fire department will qualify for promotion and allow taking of the testing for these individuals. Most of the fire departments require that before an individual is promoted in the rank do an exam. Most of the professional fires fighting departments require professional qualifications like a bachelor’s degree. In order to qualify for a promotional process in the fire department, one may require to have been employed in a good length of time, training and certification to the subjects related to the fire fighting, and educational requirements. Such eligibility is communicated for example prior to the date of the beginning of the promotion process. Usually, the evaluation procedures will also be published and the scores communicated. The written examination and subjective evaluation are administered for a particular rank the promotion process includes administration of the examination and the evaluation, and posting of the scores and determination and posting of the seniority and ascertained merit scores. The passing score is the aggregate score for all the components tested or examined. The score may be announced prior to the date of promotion. The law may stipulate that the components of the written exam reflect the issues related to the duties to be performed in the rank expected for that examination. The appointing authority may appoint agents to administer the examinations, and will test a written exam based on the material which they identify and make available to the potential examinees at least 90 days before administration of the examination. Grading of this written exam is done at the examination site on then examination day after completion of the test in front of observers. If done offsite by an agent, the observers will be expected to observe sealing and shipping and the opening latter upon return from the agency. T6ehre are bases for awarding ascertained merits based on education and training, certification which may be published earlier on. Subjective evaluation may include an oral interview, tactical evaluation, performance evaluation, or other components based on the subjective evaluation of the person. Applicants will be notified of the component prior to application of it. The examinee may be assessed to determine their leadership, communication, interpersonal, incident command and judgment. Significance of Problem This paper will seek to discuss issues related to and answer the following questions related to the issues in the fire departments. †¢ Why is the test generated from an outside party with no fire dept. ties? If the department are fare enough should the agencies still be used and the necessity of it. †¢ Why is the cut-off grade not given until the test is completed? †¢ Why is the passing cut-off grade lower than normal academic requirements? †¢ Is the test politically based or is it set for all to succeed? Studying these issues would help one to know the effects of the tests and their impact. Research on these and related issues would reveal irregularities existing, and look for ways to mend the holes. Source Review Tests for promotion in the fire department involve written and evaluation test. In a writing test for uniform fire department personnel, bonus points are assigned so that a third of the group will receive a minimum of 75%. Except for the position of a fire captain where three quarter of the participants is allowed to achieve this. A passing score for the next evaluation is a 75% mark. A second written test would be conducted if only one or none passes since the requirement for further evaluation except for the only one that passes alone who has the chance to choose when to take the next evaluation. He may also stand with the previous mark or sit for another one. Some of the things that may be tested in an evaluation are cooperation, initiative, personal effectiveness, attitude towards others, use and delegation of authority, organization and planning, persuasive ability, training and utilization of the subordinates, integrity and loyalty on the part of the leadership ability. They may also require knowing the health and physical fitness of an individual which may entail scrutiny of frequency of accidents while at job, physical condition of the individual, sick leave activity, attendance and ability to perform all duties physically. According to Spielman (1996), firefighters were proposed to wait a minimum of five years before qualifying to take promotion examinations, and proposal by the Union Local 2 added that the seniority and education points be awarded in a weighted process which also factors in test scores and in-person interviews. The committee which recommended changes to the Chicago fire department and handed the report to the then, Mayor Darly, called for oral portions in exams to consist a greater percentage of testing knowledge, skills and abilities necessary to do the job . Irregularities in the tests The fire fighting departments has not been without complains. Cheating in the promotional examinations has been reported in the fire service for example in Boston, MA where cell phones were used by FFs to text answers to their friends; in Baltimore, MD where top scorers had questions from 2001 examinations that were reused and in Chicago, Illinois where FFs cheated on EMT training examination (Bellenger, & Dean). Thus their administration should be carefully checked to make sure that such incidences do not occur. Exams for promotion have also been dogged with issues of discrimination of people with their races. For example, in the 1990 exam, out of the 117 who qualified for promotion, there were only 17 black. In a memo to city officials in the 2000, the Madison Fire fighting Department was accused of being discriminatory and unfair by the city’s affirmative director, Kirbie Mack. The department, according to The Capital Times (Shepard, 2000) had promoted no person of color since 1996, out of a total of 47 people. The fire Chief Amesqua had argued that the reasons people of color had not been promoted to lieutenant position was because a few had applied and that seniority had placed them low on the list for selection. Data however had indicated that such low applications were real and in the then three recent promotional cycles, 14 people of color out of 150 had applied and three had failed to show up for the written exams while five failed it. Only six made it to the final position out of the 100. He latter in January 12, 2001 (Judith, 2001) denied this allegation that his department was discriminatory and unfair, and presented figures to show that the diversity in the department mirrored the larger community: the people of color made 9 % of Dane County’s population and 16 % of employees in the fire department. In the Chicago Fire Department , only less than 5% of the department in 1970s composed of the blacks and the Hispanics and the Justice Department sued the city; the case which was settled by the court orders requiring hiring and promotion of more minorities in the department. The city is said to have responded by stopping to hire for years (Judson Miner-an attorney representing the black fire fighters and the city’s corporation counsel in 1980s). There was a strike that followed and a contract to affirmative action was settled on till 45% were employees in the department. In 2004, according to out of the total of the uniformed department, about 31% represented the minorities. There are whites who have raised issues as being passed over in favor of the minority groups and view it as unfair. Wherever the truth lies, firefighters feel the heat when they go out and do their jobs. Causes and reduction of irregularities Irregularities may occur as a result of delayed time which could allow manipulation of the results to favor some candidates. The cut off grade is delayed so that there will be regulation of the number qualifying. If everybody was to qualify, then there would be a problem in choosing the person to occupy the position. Usually, the examination should be set free of political influence. There have been claims of bias towards some of the races who have been said to be discriminated against. Reduction of irregularities can be achieved by a careful selection of an unbiased agent to administer the test. The process should be as open as possible to avoid bias and arising of complains. If the tests are not conducted in an open way it is difficult to avoid problems and claims. Conclusion/Recommendations There are laws as discussed regarding promotion process in the fire department. Requirements include academic qualifications, work experience and personal abilities to do the job. All these can be proved when one passes examinations that are administered for promotion in the field. These include the written and evaluation tests. Cases that are received of allegations should be addressed a proper means sought to reduce such occurrences. There are issues that have been raised in the past concerning issues of promotion that needs to be addressed and a long lasting solution sought. Promotion process itself ought to be a fair, open and a clean process. The problem underlying could be as a result of the process itself; the delays and issues to do with the agents. The fire department must ensure that current stringent measures are put in place to allow only agents who qualify to standards administer the examinations so as to minimize cases of complains. Since affirmative actions have raised issues, they should be scrutinized and offered at an open way where everybody will understand and know. The process should be kept as open as possible. Reference Baker Bill. Policy 12-1 Promotion system for uniform fire department personnel. 1 March 2000. Fire Department. Retrieved from http://www. cityof. lawton. ok. us/CityCode/Administrative_Policies/Section_12/1. html on 9 October 2008. Bellenger, B. L. and Dean C. R. Cheating on promotional public safety examinations: Strategies for responding to a widespread test scrutiny compromise. Personnel Board of Jefferson County. PDF. Retrieved from www. ipmaac. org/conf/08/bellenger. pdf on 9 October 2008. Fire promotion assessment package. Fire & Police Selection Inc (FPSI). Retrieved from http://www. fpsi. com/fire_promotional. html on 9 October 2008. Jason Shepard. Bias Alleged in fire promotions. (Front). The Capital Times (Madison, WI). November 11, 2001. Judith Davidoff. Amesqua: No bias in promotions. (Local/State). The Capital Times (Madison, WI). January 12, 2001. Spielman Fran. Panel offers Fire Dept. promotion proposals. September 13, 1996. Chicago Times.

Motivation Essay Example | Topics and Well Written Essays - 3000 words

Motivation - Essay Example Secondly, human resources exist as a yet another representation of the interests and needs of the employer. Within this function, a human resource department necessarily seeks to minimize costs associated with the workforce, comply by relevant laws, maximize efficiency, and reduce losses. Accordingly, the study of human resources almost invariably centers upon these two core functions. In keeping with this particular dynamic which is been described, this brief study will focus a level of analysis upon the means by which human resources within a firm/entity/organization can and should seek to maximize the motivational factor that it engages with its stakeholders. Within this particular dynamic, it can readily be understood that seeking to maximize motivation necessarily increases efficiency, utility, profitability, and a host of other factors that would be viewed positively by the firm/entity in question. Moreover, the changing business dynamic in the current world, inclusive of risin g competition, hiring freezes, procurement policies, and a host of other factors, means that a higher level of pressure is now exhibited upon human resource departments around the globe to maximize the level of motivation of the few employees that they can continue to employ as a means of continuing to stay relevant within the current model. Ultimately, this can be reduced to a firm or entity seeking to do more with less. Within such a dynamic, this particular analysis will measure some of the most pertinent motivational theories that exist and seek not only to define them but to explain how they can be utilized within human resources as a means of affecting a greater level of motivation. The theories that will be discussed are as follows: Maslow’s hierarchy of needs, Hertzberg’s motivation hygiene theory, McClellan’s theory of needs, Vroom’s expectancy theory, and Kolb’s learning styles theory. As such, by analyzing each of these theories and rela ting it to the practice of motivation in human resources, it is the intent of this author to underline and highlight the means by which a greater level of motivation can be affected within the current leadership that exist within each and every firm/entity/organization. By seeking to define and understanding the clear and dinstict linkage that exists between leadership and motivation, and vice versa, it is the hope of this author that the reader can come to a more clear and actionable interpretation of how leadership and motivation can work in something of a symbiotic relationship to maximize utility and efficiency within the given firm/organization/or work place. Maslow’s Hierarchy of Needs Although Maslow’s hierarchy of needs has oftentimes been considered on a purely personal psychological level, the reality of the situation is that humans are by very nature social beings. By extension, the workplace is necessarily a realm within which individuals need to interact w ith one another as well as clients as a means of generating profit and income; both for themselves and for the entity in question. In such a way, Maslow’s hierarchy of needs is perfectly suited to defining and describing the means by which a given firm/organization can seek to maximize the overall level of motivation that is exhibited within its employees. Rather than viewing this as something of an undynamic approach, it must be understood,

Interview Essay Example | Topics and Well Written Essays - 750 words

Interview - Essay Example So many times, the unit has to work with families as a whole† in order to decrease the safety and risk factors that brought the children into states care in the first place†. Johnson’s job seems extremely difficult because they deal with families that have drug and violence problems, mental health issues and societal dysfunctions.  He is exposed daily to violence and other strenuous situations which could really take its toll in a period of time. Still, he performs his duties and responsibilities to reunite the children back with their parents or legal guardians. However, his department’s goals are seldom achieved. Nevertheless, he still continues to work and do his best to make a better place for Texans to live. With the strain employees can get from the situations described above, Johnson does not say he loves or even enjoys it. He claims though that â€Å"it takes a certain mentality to work at my job†. He tries to explain this by further saying, â€Å"There is a high degree of employee turnover and burn-out. My co-workers are all operating under the same level of stress and workload as I do, so there is an inherent bond we all share related to the understanding of what each co-worker has to deal with on a day to day basis†. ... consciously or unconsciously formed an action that benefits them emotionally and psychologically, assuring each other that they understand how they feel because they are going through similar situations. Probably, the knowledge that one is not alone in his struggles is already a great help for the employees especially for them who are dealing with difficult situations. This seems to be a different story told compared to other companies and departments. Nevertheless, perhaps the bond between the co-workers is more of a necessity that is called for by their circumstances and not an unusual occurrence that happen in their office. One negative impact of Johnson’s job is not having enough time with family. He claims that he loves his family, composed of a great wife and two children and mentions their cat and dog with a smile. He says he would really love to stay with them as much as he can. However, his job places restraints on this desire. He says, â€Å"I am on call 24 hours a day, and could have to go into work at anytime†. He further adds, â€Å"I often work more than an 8 hour day†. Asked how he handles situation between work and family, Johnson says he and his wife handle difficult situations the best way they can. He also informs that they learn from past mistakes and move on into better directions. When inquired if he ever tried some solutions to reduce pressure, he expressed his gratefulness for the counseling support given in their department. He also claims that with the nature of their work, it is not uncommon for the employees to seek counseling with therapists because they deal with really horrific situations. Speaking with therapists largely helps employees cope with stress however Johnson claims that whether or not employees are willing to deal with it is

Small Business Development Research Paper Example | Topics and Well Written Essays - 2500 words

Small Business Development - Research Paper Example Cruiser, a small business having one fashion retail outlet in Brighton has been under pressure from larger retail establishments that have recently come up in its area. Over the last 12 month period, it has lost sales to the extent of 30% and is worried about the future. They have retained us, Win to Win Consultancy, with a mandate to suggest a strategy for revival and continuation.We have come up with a marketing strategy for Cruiser but for its appreciation, we wish to provide a background on facts as well as the Marketing Strategy Theories to enable the management to evaluate the recommendations made by us.To understand markets, we begin with understanding what a Market means. A Market is a demographic and/or geographic group or groups of buyers for products and services on offer. It may be limited to a small area or may be worldwide but that is dependant on the type of product or service on offer. Preceding the marketing exercise the organization needs to do market research to de termine its marketing strategy. This is a three stage effort in which data is required by potential customers. With this data, it is possible to segment the market and subsequently to determine the target customers for the organization’s products. Once this data is available, the serious exercise of Segmentation begins.Markets are heterogeneous and are created by reasons of different values, needs want, and incentives. Customers differ in their values and perceptions and want to purchase things that have value for them.  

BULLYING AND THE EFFECTS IT HAS ON OUR CHILDREN Assignment

BULLYING AND THE EFFECTS IT HAS ON OUR CHILDREN - Assignment Example Almost one in every five, students in normal classrooms, in one way or the other, experiences bullying, which has detrimental effects and leads those being bullied to take drastic measures, including murder and/or suicide. Bullying has consequences for the children being bullied, those perpetrating the bullying, for the bystanders who watch the bullying happening, and for the entire school climate and culture. Bullying portends both long and short-term damage for the victims (Voors, 2010). They suffer from mental health issues like; low self-esteem, fear, depression, and shame, as well as physical problems like wounds and bruises from the bullying, bed-wetting, disruptions in sleep pattern, and psychosomatic aches. Depression suffered by victims of bullying can both be long term and acute, of which the latter results in the children being constantly withdrawn and sad. Physical symptoms like; upset stomach, headaches, and stomach-aches are also common effects of the vice, while they are also afraid of talking the school bus as they feel they could have to face the bully in a confined space. Victims of bullying also have social difficulties, such as inaccurate social perceptions, isolation, and skills. In addition, they will also suffer within the school setting, especially with regards to school violence, absenteeism, poor performance in academics, poor concentration, and breakdown in inte rconnectedness with the rest of the school. Finally, their social interactions are also affected, as they are more likely to engage in crime, violence, gang membership, and drug abuse (Voors, 2010). The victims suffer problems associated with bullying into their adult life, including posttraumatic psychological disorders and self-destructive behaviour. In addition, they feel anxious and stressed if they have to attend gatherings with their fellow peers. Bullying also has effects on its perpetrators with children who constantly bully others more

Quiz Assignment Example | Topics and Well Written Essays - 250 words - 3

Quiz - Assignment Example digm of economic activity tries to encapsulate the natural order of an economy based on that paradigm, to show that it has a logic that works best when left to its own devices. Governmental intervention has no role in this regard. Jacques Turgot argues for the same, and sees the privileged classes, by virtue of their unnatural privileges, warping the natural flow of the economy so to speak. In place of the privileged classes, Turgot points to the farmers, the proponents of capitalism, as being best able to farm the lands in the most market efficient manner (â€Å"Critics of the Mercantilist Era†). Meltzer makes a good point about how democratic societies ultimately shape the extend of wealth redistribution through the power of the vote. In the US, for instance, where voters want greater wealth redistribution, voters go for Democrats with such agendas, and where they want less, they go for Republicans who espouse lower taxes and minimalists governments. The gist of his thoughts on deficits and sustainability is that while deficit spending may cure some economic ills in the short term, society pays for it in the long term in one way or the other, including deficit spending that inevitably fuels inflationary forces (PowerPoint

D4 Essay Example | Topics and Well Written Essays - 500 words

D4 - Essay Example The teacher should show the children how to illustrate what they have learned by comparison, counting and measuring by incorporating in charts, diagrams and graphs. The children should be allowed to display, organize and label the photos or drawings of what they learned in the field. They should also be supplied with clay, wires, assorted boxes and fabric for them to display or represent their findings and ideas. The teacher should also help the children to learn and understand the mistakes they did as they are representing their ideas. Lastly, for being a teacher to encourage his children in the ways to represent their ideas; He or she should teach the children finger plays and songs that are related to what they are being taught. Music instruments should be should be used so that the children will remake the sounds they heard in the field. There are several materials which are supposed to be in the learning environment in order to improve the learning and representation of the children. The most important one is caring teacher; he will make the environment to be more wonderful for the development of children. The teacher should make sure that there are many materials in the class which will be used in many ways in the class for instance there should be blocks of all sizes, fabric materials and art materials. Also there should be enough space for children to actively play thus improves their talents and skills. There should be structures or materials that will be used by children to practice their new experiences. The learning environment should be well decorated and colored because it supports several activities in the class and they also give the desired change and variety in developing moods in the classroom. Flexible equipment’s and materials are essential in a learning environment , for instance children will use play dough

Management of Info Systems Essay Example | Topics and Well Written Essays - 1500 words

Management of Info Systems - Essay Example This helps companies make decisions faster. In the case of Jackson Kayak, he is able to communicate to the company headquarters so that informed decisions are made (Laudon, 2013). The Chief Operations officer is also able to compare manufacturing equipments side-by-side with the images of replacement parts so that the company gets the correct pieces that will in turn help in improving the operational efficiency. The problems that whitewater kayak manufacturer solved by the use of mobile digital devices is accessing information while outside the company. In this case, Jackson is able to gain instant access to his entire operation from afar. He is able to approve new designs, analyze customer data, and refresh the content of its Web site. This has saved the company time that would have been taken by Jackson to travel to the headquarters, submit the information gathered so that a decision is made. The company has also been able to maintain its competitive advantage by analyzing customer data. This analysis helps the company be able to determine in good time the changing taste and preferences of its customers. As a result, the company is able to satisfy the needs of its customers and make the loyal to the company. General Electric (GE) has been able to manage gas turbine inventory and manage electronic transformers throughout the world by using the company’s Transformer Monitoring application. Monitoring applications also help the company to zoom in from a global map to a specific transformer, and be able to read all of the key performance indicators. Dow Corning executives have been able to use mobile devices to view and analyze real-time data from the company’s core corporate systems that include sales figures, trends, and projections. This presents the company’s managers with simple and intuitive dashboards of complex data. The company has also

Benefits and drawbacks of the electronic health record Research Paper

Benefits and drawbacks of the electronic health record - Research Paper Example The past decade has witnessed technological advancement in virtually every industry. Compared to a decade ago, many people in developed economies can now purchase goods online, buy air tickets and earn degrees online. Health records have for a long time depended on the traditional system of record keeping that is tedious and prone to errors. Electronic health Record (EHR) system plays a vital role in transforming the healthcare system mainly from a paper based system to a comprehensive computerized system through the use of clinical information to deliver high quality care to the patients. Various countries have come up with laws that manage require the healthcare facilities to adopt EHR and utilize it in a â€Å"meaningful way† with respect to cost containment and errors reduction. This is expected to transform the healthcare institutions for the benefits of both patients and administrators. However, there are various concerns over the use of EHR and questions are asked whether it really meets the intended benefits that are to improve care with acceptable level of errors. This study focuses on the review of literature on the impacts of EHR. As stated by Dentler et al (2014), EHR impacts are either beneficial or drawbacks, thus this study embarks on the merits and demerits of implementing an EHR by a healthcare facility as identified by experts in various studies. Electronic Health Register (EHR) refers to the longitudinal electronic record of patients’ information with respect to health that has been generated through one or more encounters with the patient. EHR contains the patients’ information related to progress, demographics, past medical history, vital signs, radiology reports, laboratory data, problems and medications (Page et al, 2011). According to Menachemi & Collum (2011), three attributes defines a â€Å"meaningful use† of EHR: Computerized Physician order entry (CPOE) systems, Clinical Decision Support (CDS) and

Letter from Birmingham Jail Essay Example for Free

Letter from Birmingham Jail Essay Letter From Birmingham City Jail: An Appeal of Logic, Emotions, and Personal Conviction In persuasive essays, authors attempt to help their readers consider a point by using a variety of techniques to present their arguments. To captivate a reader’s attention in an appealing way, they offer logical reasoning, emotional testimonies, and their own personal convictions to present different arguments in favor of their platform. These three phenomena, known as logos, pathos, and ethos, are valuable tools in any writer’s work. In â€Å"Letter from Birmingham City Jail,† Dr. Martin Luther King, Jr. writes to the clergymen as an argument supporting civil disobedience, asserting his mission to end segregation through a series of peaceful protests. In order to inspire his captive audience, Martin Luther King effectively uses ethos, pathos, and logos throughout the letter to reinforce his persuasive appeals. One way authors present their arguments is through a series of logical appeals and reasoning, which is partly what â€Å"Letter From Birmingham City Jail† aims to do. This concept, called logos, is the presentation of different key ideas. From the opening of his letter, King clearly states his objective, â€Å"To try and answer [the clergy’s] statements† regarding his â€Å"unwise and untimely† protests (King 205). However, to merely state his arguments is not enough. Reading the World explains, â€Å"while evidence provides the basis for an argument’s support, how we apply logic to that evidence is part of how we make that argument effective† (Austin 597). To justify reasons by explaining their motives is key to persuasion. What exactly is King’s objective in organizing silent protests? He explains: â€Å"I had hoped that the white moderate would understand that law and order exist for the purpose of establishing justice I had hoped that the white moderate would understand that the present tension in the South is a necessary phase of the transition from an obnoxious negative peace†¦we who engage in nonviolent direct action are not the creators of tension. We merely bring to the surface the hidden tension that is already alive. We bring it out in the open, where it can be seen and dealt with† (King 209). King justifies protests against segregation by arguing that white city officials do not recognize the connection between social justice and law and order. He wants them to make the association and realize segregation in the south is the true source of racial tension. Once segregation laws become lifted, such rigidity would be relieved. In sum, ethos, pathos, and logos are all necessary and equally important criteria in composing a persuasive letter or document. In utilizing the three, Martin Luther King is able to present a logical argument in favor of desegregation backed with emotional support in a professional format. â€Å"Letter to Birmingham City Jail† was a significantly influential piece of writing during the Civil Rights Movement and drew a substantial amount of awareness towards advancement in racial equality. Had King not made use of all three, his letter may not have been as effective, or might have never contributed to the end of segregation as we know it.

Effectiveness of Second Generation Tyrosine Kinase Inhibitor

Effectiveness of Second Generation Tyrosine Kinase Inhibitor Susmi Suresh Effectiveness of Second Generation Tyrosine Kinase Inhibitors in the Treatment of Chronic Phase Chronic Myeloid Leukaemia: a systematic review Abstract Background: Chronic Myelogenous Leukemia (CML), a cancer of the myeloid lineage, affects around 15 per 100,000 people per year in the UK. Tyrosine Kinase Inhibitor (TKI) oral therapy is used to target the causative BCR-Abl protein. Second-generation TKIs namely dasatinib and nilotinib are understood to be more potent than the first-generation prototype imatinib. However, cost-effectiveness is hindering the widespread use of second-generation TKIs. The patency of these drugs will expire in the immediate future and so, the prices of these are expected to fall. A clear understanding of the efficacy of the potent second-generation TKIs will aid decision-making bodies such as NICE UK to form guidelines on front-line drugs. This review aims to collect and examine evidence from current literature on the effectiveness of second-generation TKIs in the treatment of chronic phase CML. Method: A systematic search of major databases was carried out and the results were screened using specific inclusion and exclusion criteria. Five major randomised controlled trials were identified. Data extraction and risk of bias assessment were carried out using standardised forms developed specifically for RCTs by the Cochrane Collaboration. Quality assessment of the trials was performed using the CASP tool. Results: The five chosen RCTs were the DASISION trial, the S0325 trial and the SPIRIT 2 which compared dasatinib with imatinib, and the ENESTnd trial and the ENESTchina trial which compared nilotinib with imatinib. A participant pool of 2692 patients had a mean age of 61 years and similar features. A total of n=789 and n=697 patients were randomly assigned to dasatinib and nilotinib arms. Second-generation TKIs were associated with greater response rates in patients than imatinib; for example, dasatinib was associated with an odds ratio (OR) of 0.0803 (95%CI 0.0434 to 0.1489 Pin the S0325 trial, and nilotinib OR= 0.1772 (95%CI 0.1217 to 0.2581 Pin the ENESTnd trial. Conclusion: Current evidence points to a greater efficacy of second-generation TKIs, namely dasatinib and nilotinib, than imatinib. Adverse events (AEs) were reported for all three drugs. Due to the lack of a direct comparison between second-generation TKIs, the effectiveness of dasatinib over nilotinib could not be inferred. In order to aid bodies such as NICE to choose the most apt and safe TKI for use as a first-line treatment choice, it is suggested that future studies aim for a direct comparison. Toxicity data should also be generated to supplement this process. Introduction       Chronic Myelogenous Leukaemia (CML), a cancer of the myeloid lineage, accounts for 8% of adult leukaemias in the UK (1). This acquired genetic disorder causes the pluripotent myeloid stem cells in the bone marrow to undergo unregulated growth (2). A proliferative advantage thus results in patients having abnormally increased levels of serum leukocytes. The WHO ICD-10 classifies this disease as a malignant neoplasm with Philadelphia positive, t(9:22) (q34:q11) translocation and crisis of blast cells. With an annual incidence of 14.8 per 100,000 per year (3), leukaemia, along with its subtypes, is the twelfth most common cancer in the UK. The disease has a male predominance and its incidence increases with age (4). Although no causative environmental leukomogens have been identified, several studies have observed higher incidence in patients exposed to very high doses of ionising radiation (5). CML is often triphasic, with an initial chronic phase (CML-CP) followed by the advanced phases of accelerated (intermediate) phase and a final blast crisis- all with deteriorating laboratory profiles and clinical signs. Tyrosine kinase inhibitor (TKI) oral therapy has been used to extend the clinical course (particularly that of CML-CP). CML today is one of the fewest cancers which can be treated to attain 79% survival rates (6). Since the introduction of TKIs, there has been a significant reduction in mortality rates in the UK- from 1.5 per 100,000 in 2000, to 0.6 in 2010 (7); TKI-attributed mortality reduction is however debatable (8). Currently, imatinib is used as first-line treatment and is available to patients in the UK. Approved by the FDA in 2001, imatinib has been shown to be very effective in the treatment of CML. Prognosis is excellent with an increase in 5-year survival rates by 32% since its introduction (9). Hailed as the magic bullet against cancer (10), there have been several setbacks since introduction. Firstly, patients soon developed resistance. This was counteracted with the development of second-generation TKIs: nilotinib and dasatinib for imatinib-resistant (or intolerant) patients (2). Secondly, TKIs are deemed as one of the most expensive cancer drugs. For instance, in countries such as India where the generic forms are used, the cost difference for a month course, when compared to that in the UK, is an astonishing  £4200 and  £620 for imatinib and dasatinib, respectively (11). As a result, the availability of TKIs is strictly regulated by NICE. Whereas NICE recommends nilotinib as a first line drug if the manufacturer makes Nilotinib available with the discount agreed as part of the patient access scheme (PAS), dasatinib is neither a part of PAS nor is it recommended in CML-treatment (12). NICE explicitly comments on the low cost-effectiveness as the major reason for this despite it acknowledging these drugs to be more effective (13). It is to be reminded that NICE uses clinical as well as economic data to form its guidelines. Prices are expected to fall when the patency of TKIs expires in the future. For example, the patency for imatinib will expire in December 2016 in the UK. This may lead to possible alterations in the NICE recommendations and the use of second-generation drugs for first-line treatments may be favoured. Knowledge on the effectiveness of second-generation TKIs will help us shape the choice of appropriate TKIs in the future, when the pharmaceutical industry will be flooded with their generic versions. As such, this review aims to examine current evidence on the effectiveness of second-generation TKIs in the treatment of CML-CP patients. The molecular basics of CML CML is an acquired neoplasm resulting from the formation of an aberrant gene. In the myeloid stem cells of patients, the breakpoint cluster region (BCR) on chromosome 22 and the Abelson murine leukaemia (c-Abl) on chromosome 9 undergo a (9;22) translocation (Figure 1) . This results in the formation of the aberrant BCR-Abl fusion gene which is seen in 95% of patients (who are so referred to as Ph+ve). The BCR-Abl gene is translated into the leukemogenic protein p210BCR-Abl, an aberrant tyrosine kinase (TK) enzyme that is capable of constitutive activity. TKIs inhibit these aberrant TKs. c-Abl, the non-aberrant version of the gene, has a kinase domain which houses the ATP-binding pocket, an SH2 upregulating domain and an SH3 inhibitory domain. The kinase is strictly auto-inhibited and shuttles between the nucleus and the cytoplasm. However, the BCR-Abl TK is localised in the cytoplasm and this is implicated in its constitutive TK activity (Figure 2). In the cytoplasm, it undergoes auto-dimerisation which activates the enzyme by triggering structural alteration. c-Abl works by phosphorylating the Grb2 substrate protein. This activates the SoS effector molecule which facilitates the conversion of Ras-GDP to Ras-GTP. This further activates Raf due to which MEK1/2 is phosphorylated. As a result, ERK, a critical regulator of Cyclin D is also activated. ERK induces the synthesis of Cyclin D, which along with cdk4, determines whether the cell cycle is allowed past the G1 Restriction point. Once past this checkpoint, cell cycle cannot be reversed and so, the resultant daughter cells are produced. Cyclin D phosphorylates retinoblastoma (Rb), which in its inactive state is unphosphorylated and attached to E2F (a transcription factor), and releases E2F. This allows the cell to enter into the S phase (14) to begin DNA replication. Expression of the BCR-Abl gene upregulates proliferation by constitutively activating the Ras signalling pathway (Figure 3); cyclin D is continuously produced. BCR-Abl expression also facilitates anti-apoptosis and disrupts adhesion (Figure 4). A disrupted adhesion to stromal cells and the extracellular matrix reduces the regulatory effect transmitted via focal adhesions (15). Also, clonal expansion is aided by the evasion of apoptosis. Thus, uncontrolled Ras signalling, upregulated anti-apoptosis and disrupted adhesion are understood to lead to the ultimate manifestation of CML   (16). TKIs inhibit these aberrant tyrosine kinases. Imatinib is a competitive antagonist of the tyrosine kinase domain of BCR-Abl (16). Tyrosine kinases exist in active or inactive states, depending on whether the activation loop located on the C-terminal domain is open or closed (Figure 5).In the inactive state, the activation loop is closed and folds towards the ATP-binding pocket (17). Imatinib and nilotinib bind to the inactive conformation (Figure 6) whereas dasatinib binds to both conformations. Several studies have shown second-generation TKIs to be more effective in treating chronic phase CML (18-20). One such study showed that dasatinib was 325-fold more effective than imatinib at inhibiting BCR-Abl in vitro; this is attributed to its ability to bind to multiple conformations (21). Methods (Appendix A) Results Five randomised controlled trials were identified (Table 9). These included three trials- DASISION, Second Phase S0325 and SPIRIT 2- that compared dasatinib with imatinib and two trials- ENESTnd and ENESTchina- that compared nilotinib with imatinib. All of these together show better outcomes for CML-CP patients treated with second-generation TKIs. The primary end point of all these trials, except DASISION and SPIRIT 2, was MMR rates at 12 months. The DASISION trial looked at CCyR at 12 months. The primary endpoint of SPIRIT 2, the largest dasatinib trial, is event-free survival at 5 years. This will only be measured in March 2018 but nevertheless, secondary outcomes such as CCyR rates at 12 months have been published. All other studies also measured CCyR at 12 months as the secondary outcome. The Dasatinib versus Imatinib Study in Treatment-Naive CML Patients (DASISION) (22) The study aimed to find whether patients given dasatinib had a higher CCyR by 12 months of treatment. CCyR and MMR at 12 months were compared for both drugs and it was concluded that dasatinib may improve long-term outcomes in CML-CP patients due to its shorter response time than imatinib (Table 9; Appendix B: CCyR and MMR measurement methods and scale). Considered as a landmark study, these results proved to be pivotal in accepting dasatinib as a standard second-generation TKI. A 5-year follow-up was conducted to understand whether dasatinib can be continued to be considered as a standard therapy for CML-CP patients. The results (Table 10) supported the original finding (23). The Second Phase S0325 Intergroup (South Western Oncology Group, East Cooperative Oncology Group, Cancer and Leukemia Group B and NCI Canada Clinical Trial Group) Trial (24) The study aimed to compare the response rates for dasatinib- and imatinib-treated patients. Following standard clinical measurement of CCyR rates (Appendix B), dasatinib was found to produce more early short-term cytogenetic and molecular response rates (Table 9). However, the study also noted Grade3-4 toxicities in 58% patients in the dasatinib arm, compared to only 35% in the imatinib arm. Toxicity data were not reported in DASISION or SPIRIT2. ST1571 Prospective International Randomised Trial (SPIRIT 2) (25) CCyR response rates for dasatinib- and imatinib-treated patients were compared. The study observed an increased response rate for dasatinib compared to imatinib (Table 9). With these results, the study concluded that dasatinib was favoured in CML-CP treatment. Evaluating Nilotinib Efficacy and Safety in Clinical Trials- Newly Diagnosed Patients (ENESTnd) (26) A multicentre three-arm trial, this aimed to assess the efficacy and safety of nilotinib compared with imatinib. Two groups of patients given different doses of nilotinib were compared to those treated with the standard imatinib dose. CCyR was found to be higher in both nilotinib arms, compared to the imatinib arm (Table 9). The study thus concluded that nilotinib at either doses produced a clinical response better than imatinib. A 5-year follow up (Table 11) aimed to evaluate the long-term outcomes in patients taking nilotinib; MMR and 5-year overall survival (OS) rates of these patients were examined (27). Patients treated with the higher dose of nilotinib were found to have more AEs. Despite this, due to the short-time with which MMR and CCyR were achieved, the study concluded to recommend nilotinib at 300mg twice daily over imatinib. Current evidence provided by DASISION trial and the works of Quintas-Cardama A et al., 2009 and Hochhaus et al., 2009 were referred by the researchers. These directly link shorter response time with increased long-term benefits and reduced risk of progression (28, 29). Evaluating Nilotinib Efficacy and Safety in Clinical Trials- China (ENESTchina) (30) The trial, conducted in Chinese patients, aimed to observe MMR rates at 12 months in nilotinib and imatinib treated patients. Also, conclusions on whether genetic and ethnic factors affect response to treatment were drawn using the results. Whilst MMR showed a similar pattern as seen in the original ENESTnd trial, CCyR at 12 months for the nilotinib arm was lower than the imatinib arm by 3.6%. Since CCyR at 6 months showed an increased rate for nilotinib (66.4% vs 57.1% for imatinib), the study noted this inconsistency to be favouring nilotinib. Previous studies were cited to have observed early CCyR indicative of better response (31, 32). Thus, it was concluded that nilotinib was more effective.   Study Intervention Dosage n Males (%) Median age Lost to follow up (%) CCyR at 12 months MMR at 12 months DASISION Dasatinib 100mg daily 259 56 46 15 83% (95%CI 78-88; P-value 0.01) MMR3x 46% (95%CI 40-52 P-value Imatinib 400mg daily 260 63 49 19 72% (95%CI 66-77; P-value 0.01) 28% (95%CI 23-34; P-value S0325 Dasatinib 100mg daily 123 60 47 na* 84% (95%CI 74-92; P-value 0.040) MMR3 59% (95%CI 48-68; P-value 0.059) Imatinib 400mg daily 123 63 50 na 59 % (95%CI 56-80; P-value 0.040) 44% (95%CI 34-55; P-value) SPIRIT 2 Dasatinib 100mg daily 407 61.4 53 0 53.4% (P-value MMR3 58.4% Imatinib 400mg daily 407 59.2 53 0 41.6% (P-value 43.1% ENESTnd Nilotinib 300mg twice daily 282 56 47 16 80% (P-value MMR3 44% (P-value Nilotinib 400mg twice daily 281 62 47 18 78% (P-value 43% (P-value Imatinib 400mg daily 283 56 46 21 41.6% (P-value 22% (P-value ENESTchina Nilotinib 300mg twice daily 134 67.9 41 na 77.6 (66.4 at 6 months) 52.2% (95%CI 43.4-60.9; P-value Imatinib 400mg daily 133 60.9 39 na 80.5 (57.1 at 6 months) 27.8% (95%CI 20.4-36.3; P-value Table 9 Study Characteristics; (*na= not available; x See Appendix B: Parameters for measuring effectiveness of TKI) Study Intervention Dosage MMR MMR4.5x 5-year OS (HR 1.01; 95%CI 0.58-1.73) Adverse Events* : Drug-related Pleural Effusion DASISION 5-year Follow-up Dasatinib 100mg daily 76 (P-value= 0.0022) 42(P-value= 0.0022) 91% 28% Imatinib 400mg daily 64 (P-value= 0.0251) 33(P-value= 0.0251) 90% 0.8% Table 10 DASISION 5-year Follow-up Study (*No new adverse events were reported; x See Appendix B: Parameters for measuring TKI effectiveness) Study Intervention Dosage MMR4.5 OS Overall Adverse Events ENESTnd 5-year Follow-up Nilotinib 300mg twice daily 54% 93.7% (95%CI 90.8-90.6) 32.9% Pleural Effusion: 1.8% Nilotinib 400mg twice daily 52% 96.2% (95%CI 93.9-98.5) 41.4% Pleural Effusion: 0.7% Imatinib 400mg daily 31% 91.7% (95%CI 88.3-95.0) 32.7% Pleural Effusion: 1.1% Table 11 ENESTnd 5-year Follow-up Study Discussion The pooled data from 2692 patients show that the second-generation TKIs were more effective than the first-generation TKI imatinib. The results from the three RCTs which compare dasatinib with imatinib give an average absolute risk reduction (ARR) of 26.0%; for nilotinib, average ARR is 24.6% (Table 12). Together, second-generation TKIs produce a very promising complete cytogenic response in 253 per 1000 patients per year. As a comparison, a Cochrane systematic review conducted by Aguilar MI et al., 2005 to understand the efficacy of oral anticoagulants in preventing ischemic heart attacks, collected data from five RCTs with a pool of 2313 patients. This showed that warfarin gives an ARR of 4.05% and so the use of warfarin as a common anticoagulant was continued to be supported (33). Hence, a very high combined ARR of 25.3% shown in this review emphasises the potency of second-generation TKIs in treating CML-CP. With continuous treatment using these TKIs, remission can be attained. à ‚      RCT Intervention Odds Ratio Absolute Risk Reduction (ARR %) ARR per 1000 population (per year) DASISION Dasatinib 0.5242 (95%CI 0.3437 to 0.7997 P=0.0027) 0.11089 (11.1%) 110.9 S0325 Dasatinib 0.0803 (95%CI 0.0434 to 0.1489 P 0.55409 (55.45%) 554.1 SPIRIT 2 Dasatinib 0.6217 (95%CI 0.4713 to 0.8203 P= 0.0008) 0.11825 (11.8%) 118.3 ENESTchina Nilotinib 1.1871 (95%CI 0.6578 to 2.1426 P=0.5691) -0.04282 (-4.28%) -42.82 ENESTnd Nilotinib (300mg) 0.1772 (95%CI 0.1217 to 0.2581 P 0.40358 (40.4%) 403.6 Nilotinib (400mg) 0.2025 (95%CI 0.141 to 0.2925 P 0.37672 (37.7%) 376.7 Table 12 Data processed by the review author Dasatinib Trials The DASISION trial was industry-sponsored and as such, the results are to be approached with caution due to a possible risk of bias. However, the largest dasatinib trial, SPIRIT 2 also shows a very similar ARR of 11.8%. Moreover, the European LeukemiaNet Panel used the results from the DASISION and other similar studies to set the 2013 guidelines in the management of CML-CP (34). Hence, the results are widely acknowledged by the scientific community. However, due importance must be given to toxicity data generated from these studies whilst interpreting the results. Whilst DASISION stated that adverse events (AEs) for both arms were similar, toxicity data were not explicitly reported in DASISION and SPIRIT 2 studies. The S0325 trial addressed this issue (See Results). The team suggested that the choice of TKI should only be made based on a patients individualised risk of progression, pre-existing comorbidity and compliance (24). With reference to this, the 5-year follow-up of DASISION emphasised that there were no new events reported outside of the initial 12 month period (23). Nonetheless, both teams reiterated the quick response of dasatinib in treating CML-CP as an indication of its greater efficacy. However, this increased effectiveness becomes equalised in the long-term, with both dasatinib and imatinib producing similar overall survival rates five years post-treatment (23). Nilotinib Trials Compared to dasatinib, the risk of AEs was only slightly increased in nilotinib patients. Unlike the other RCTs, ENESTnd trial observed imatinib-treated patients to have a high risk of AEs. Nausea and diarrhoea were reported in a very high percentage of patients- 41.1% and 46.1% respectively. The molecular mechanisms of AEs are not currently understood and no studies have been trialled in patients to quantify and assess TKI-related AEs. Hence, a clinically-relevant conclusion was not drawn from these results. Limitations One main factor limiting this review is the absence of direct comparative studies between dasatinib and nilotinib. The S0325 trials observed that the standard dose of dasatinib produced more AEs than imatinib and the ENESTnd trial showed that the higher dose of nilotinib produced more AEs than imatinib. However, these observations alone cannot be used to highlight nilotinib over dasatinib. Another limitation is the possibility of selection bias. Currently, numerous on-going clinical trials worldwide aim to compare the various TKIs. However, much data is yet unpublished. These could not be included in this review due to the lack of an appropriate critical appraisal tool, other than the CASP tool used in this review, with more rigorous criteria. Despite these, conclusions drawn from a large pooled study population of 2692 patients remain reliable. Nonetheless, inconsistencies on both efficacy and AEs data were present when comparing the five trials. The ENESTchina trial observed a better result with imatinib at twelve months than nilotinib (OR= 1.1871; 95%CI 0.6578 to 2.1426 P=0.5691). Additionally, the ENESTnd trial reported imatinib to be associated with higher AEs than dasatinib. However, the pooled data show a greater efficacy of dasatinib and nilotinib than imatinib. Dasatinib is also associated with more AEs than standard dose nilotinib and imatinib. The comparability of ENESTchina to other trials could be questioned. Patients from all ethnicities was a definite inclusion criterion and hence this study could not be excluded. The primary aim was to evaluate the efficacy and safety of nilotinibà ¢Ã¢â€š ¬Ã‚ ¦vs imatinibà ¢Ã¢â€š ¬Ã‚ ¦ (in) patients with newly diagnosed P

Consumer Perceptions of Non-Banking Financial Institutions

Consumer Perceptions of Non-Banking Financial Institutions Non-Banking Financial Institutions (NBFI) v/s Banks in India – Why NBFI are doing much business than Banks? A study of New Delhi based Upper and Middle Class Consumers. Master of Business Administration ABSTRACT In the era of globalization and liberalization the development of financial sector has played and important role in the economy of India. With the services offered by banks and non-banking financial institutions (NBFI) the life of consumer in India has completely changed. Borrowing is one of the important aspects that have changed the whole scenario of Indian society. Change in the trend of culture of upper middle class consumers, change in the behaviour of consumer regarding borrowing and change in the norms of banks and NBFI regarding borrowing has made life of Indian consumer very comfortable. This research shows how non-banking financial institutions are fulfilling the demand of upper middle class consumers and how they are doing more business than banks and why consumers rely more on NBFI rather than banks in India. This research uses questionnaires, interviews of consumers and direct sales agent of NBFI to examine the consumer borrowing and role of financial institutions. The research concludes that consumers are relying much more on NBFI and it is not risky difficult to borrow loan because of policies norms regarding loans and availability of flexible financial options. CHAPTER 1 INTRODUCTON 1.1 PREVIEW This chapter is introduction about the research topic. It highlights the aims and objectives of the research. It also tells about the structure of the dissertation and the summary of this chapter. 1.2 BACKGROUND INFORMATION Each and every country has its own financial system. Financial system usually consists of financial market, financial intermediaries and financial product or service. Finance in simple words means ‘money’ but finance is a source which provides funds to a particular activity. A financial sector/system acts as an agent to make sure that funds flow from the areas of surplus to the deficit area. A financial market is a place which creates financial assets and exchange of money for goods and services. Financial market consists of foreign exchange market, capital market, credit market and money market. (Web 8) Money is a fascinating thing which attracts human to a great extent. Over thousands of years the process of creating money and using money is making human enthusiastic. Financial intermediaries play an important role in building economy of a country. Financial Intermediaries includes banks, financial institutions, non-banking financial institutions (NBFI), investment companies, pension and mutual funds. (Web 9) Financial sector plays an important role in organizing and properly distributing sharing the savings. Financial sector act as a passage or tube which transfers the financial resources from net savers to net borrowers .ie. from the person who spend less as compared to their earning to those who earn less and spend more then their earning. (Web 10) Indian financial system consists of huge network of banks and financial institutions (including non-banking financial institutions) and range of financial instruments. From the last two decades there have been great improvements in Indian Financial system and there is a huge supply of banking and other financial facilities provided to large population of India. (Web 10) A safe and sound financial sector is required to maintain the growth of an economy. With the help of globalization and change in technology the operating environment of banks and other financial institutions has changed significantly. Due to competition and change in customer demand there is increase in product innovation and change in strategy of banks and financial institutions. In order to face the competition and meet challenges Reserve Bank of India (RBI) has also changed its regulations and provided a new framework. Reserve Bank of India (RBI) is trying to develop a strong, competitive, stable and powerful banking system so that it can help in growth and development of the economy. (Web 11) According to Sarkar (n.d.) a strong, diverse, efficient and flexible financial system plays an important role in the economy of a country. A developed financial system maintains high level of investment and promotes growth in the economy. The financial system in India consists of financial institutions, financial market, financial instruments and services. Indian financial system is divided into two segments- organized sector and traditional sector which is also called as informal credit market. In organized sector financial services are provided to the community by large number of financial institutions which are mainly business organizations. And financial institutions that are providing specialized or provide some extra services are called as banking or non-banking units. Reserve Bank of India (RBI) is the apex institution and regulates the credit. Financial institutions include public and private commercial banks, cooperative banks, development banks, regional rural banks. Where as finance leasing companies, LIC (Life Insurance Corporation), GIC (General Insurance Companies), provident funds, mutual funds, post office banks .etc. are non-banking financial institutions in India. (Sarkar, n.d., pp. 1) RBI is the central bank of India and was established in April, 1935. RBI acts as Government banker, agent, adviser and also act’s as banker’s bank. RBI is the controller of the credit which means that RBI has power to change the volume of credit created by banks. (Web 12) The profitability of banking sector is improved because of reforms set by banking system which results in high operating and net profit. With the entry of private banks there is a huge competition for public sector banks for loaning of funds. With the entry of non-banking financial institutions (NBFI) and Development financial institutions (DFI) the competition in sourcing the funds is also increased. (Chanda, 2005, pp. 31) NBFI act as an intermediary between lender and borrower and provide better, different services than normal banks. NBFI includes investment companies, finance corporations, chit funds, hire-purchase finance companies, loan companies, leasing companies, mutual benefit funds. All of these NBFI have the ability to provide large amount of financial services to wide range of customers from small borrowers to established companies. (Chanda, 2005, pp. 36) Indian consumers are changing their habits at a fast rate and they are borrowing money to buy the product they wanted. Because of easy financing options they don’t have to think if they can afford a product or not. Consumer finance is a win-win situation for every one and now they don’t have to wait for years to save their money and upgrade their living standards. (Agarwal and Mittal, 2004, pp. 6) The Buy Now Pay Later culture is very much common in India now a days. Consumers are loosing their fear of borrowing. Even if a consumer wants to buy a home, home loan financing is easily available. Falling interest rates, increasing loan duration and reduced monthly installments are making all these things possible for consumers. (Agarwal and Mittal, pp. 6-8) The banking sector is one of the most important sectors in Indian financial sector. Over 80 percent of funds which flow in the financial sector are because of banking sector. (Sarkar, n.d., pp. 1). NBFI are entering in the financial sector because of inflexibility of banks and their less competition amongst them. Kotak Mahindra, Citi Financial, Ashok Leyland Finance, Sundaram Finance .etc. are the big players in this field and are growing rapidly at faster rate and are taking good position in financial sector. In respect to all these things, the purpose of this study is to find why these institutions are doing better business than public and private banks in India. 1.3 AIMS AND OBJECTIVES This research is planned to understand and examine the trend of upper class and middle class Indian consumers in taking loans and their reliance on banks and non-banking financial institutions, particularly in today’s competitive environment. This research is done to achieve the following defined objectives: To compare and contrast the role of banks and non-banking financial institutions (NBFI) in India economy. To evaluate the role of both banks and NBFI for borrowing in Indian developing economy. To understand and examine the banking and financial sector regulations in India in post liberalization period. To evaluate and analyze the emerging consumer culture in India. To understand and examine the trend of upper and middle class Indian consumers in taking loans. To examine the policies of banks /non-banking financial institutions regarding offering loans to consumers. To identify how NBFI are fulfilling the aspirations of upper and middle class in India. 1.4 STRUCTURE OF DISSERTATION There are 5 chapters in this dissertation. Chapter 1: Introduction This chapter introduces the research topic. It outlines the aims and objectives of dissertation, overview, structure of dissertation and finally summary of the chapter. Chapter 2: Literature Review This chapter talks about the literature review. Discussion of available literature related to the topic is done. The aim of this chapter is brief about various concepts on which this dissertation is based. The literature is available from various books, online journal articles and websites. Chapter 3: Research Methodology This chapter discusses about various research methods and data collection methods. It discuss about research design, quantitative research, qualitative research, advantages disadvantages of various methods, limitations, validity reliability. Chapter 4: Findings, Analysis and Discussions This chapter analyses all the data collected using different data collection methods. All the data is critically analyzed and discussions are made on the basis of literature which is related to the objectives of research. Data presentation is done using various methods like tables, graphs, charts and pie charts .etc. Chapter 5: Conclusion and Recommendations This chapter concludes the research by providing a conclusion on the basis of findings, analysis and discussions. This chapter also discusses the limitations faced during research and recommendations for future research. 1.5 SUMMARY This chapter was an introductory chapter aimed to give reader a brief idea of what this research is all about. It highlights introduction, aims, objectives and finally structure of the dissertation. CHAPTER 2 LITERATURE REVIEW 2.1 PREVIEW Aim of this chapter is to discuss the literature related to the research topic. This chapter discusses about financial institutions regulations in India, culture of upper middle class consumers in India and worldwide, what makes consumer to borrow and strategies policies of financial institutions regarding credit. 2.2 FINANCIAL INSTITUTION REGULATIONS 2.2.1 Financial Institution Regulations Globally The Changing scenario of banking sector around the world, in the light of globalization has significantly drawn the attention of researchers and practitioners. They have raised important issues regarding corporate governance regulation and banking institutions as corporate governance is related to banking regulations. In this context the research of Alexander (2004) titled Corporate Governance and Banking Regulations requires worth mentioning here. The research of Alexander (2004) addresses the issues of corporate governance and banking institutions. Alexander (2004) begins by analyzing the upcoming international rule of bank corporate governance. Alexander (2004) provides a framework for how bank supervisor and bank management should act together in relation to the management of banking institutions and its impact on financial stability. Further, Alexander (2004) has analyzed corporate governance and banking regulation in UK and USA. Alexander (2004) concludes Financial Services and Market Act 2000 has authorized FSA (Financial Services Authority) to fill in the gaps to enhance corporate governance because traditionally UK corporate governance was not focused on special role of banks and financial institutions. (Alexander, 2004, pp. 1-2) In USA, the federal and state statute regulations regulates the corporate governance for banking institutions. In order to manage the responsibilities of senior management and directors a framework is provided by federal regulation. There is governance problem in banks and financial companies in US. In order to provide financial stability institutions and banks, the bank regulator must establish governance standard in regards to national banking law. (Alexander, 2004, pp. 1-2, 37) In this era of globalization, banking and financial industry is greatly affected by major changes and it results in increased competition, less profit margin, pressure to cut the price, products having short life cycle. (Alexander, 2004, pp. 1-2, 37) However, when it comes to comparison of financial regulations in UK and USA, it is revealed that regulation of financial system in UK is not exact as it is in USA. Evidently in USA the Securities and Exchange Commission has wide ranging regulations, and is stated as too much. Further, it is also stated that formal and strict USA rules procedures do not allow desired flexibility and pace. However, interestingly so far new system in UK provides settlement between the self regulation and statutory regulation to make sure that financial market works in proficient and systematic way. (Web 1) Apart from UK and USA, the regulations of financial market are changing constantly all around the world. For .eg. In Europe the membership of EU changed the main concerns of government while facing the problem of changing or executing the regulation of financial system and it is revealed that issue was the assistance from the jurisdiction. Quinn (1992) says that â€Å"harmonisation of banking rules in the EU, the co-ordination of countries own regulatory standards and centralisation of an EU integrated financial market are needed to enable swift reaction to any future market failure†. (Web 1) 2.2.2 Financial Institution Regulations in India Financial system in India consists of specialized and non specialized financial institutions which further involves organized and unorganized financial market and deals in financial instruments services and it helps in transferring funds. In finance money is exchanged with a promise to pay back in future. Narayanan (2005) says that in product market a buyer can easily find if a product purchased by him is defective but it is difficult to find the defects when a loan is taken. (Narayanan, 2005, pp. 1-2) If we compare Banks and Non-banking Financial Institutions (NBFI) with non financial industries, both banks and NBFI can change or remove the risk factor of their assets more quickly than non financial industries and also banks can easily give loans to clients without taking into consideration the previous debt problems. Financial market easily allocates the resources efficiently and effectively. The financial market face the problem that it is controlled by others because some persons have some information that other does not have. In order to solve this problem there is requirement of corporate governance so that it can be assured that supplier of finance get their return on investment. (Narayanan, 2005, pp. 1-2) India has a strong financial system. After India got freedom it inherited a diverse setup in regards to institution and market. The purpose was to mobilize savings and to increase investment rate. (RBI, 2003, pp. 3) Financial reforms were introduced in 1991 because India faced the crisis of balance of payment in 1991 so several reforms were introduced to come out of the crisis. India faced this problem because it was heavily dependent on the public sector and industrialization strategy and both of them were not able to deliver the growth in competitive environment. Later in 1980’s India tried to expand the role of privatization and reduced the direct tax but it didn’t helped. Later the reforms were introduced in June 1991 to recover from the crisis of balance of payment. (RBI, 2003, pp. 9) After the end of crisis Indian banking system made a considerable progress functionally and geographically. New bank facilities were introduced and the pattern of lending was changed. The feature of reform was ‘gradualism’ because it enhanced micro stability and the same time encouraged micro economic linkages. (RBI, 2003, pp. 5-8) Currently the institutional composition of financial system in India is illustrated as three constituents: banks either domestic or foreign, owned by RBI, government or private and regulated by RBI; Financial refinancing institutions set up under a separate law or under companies act and owned by RBI; Non-banking financial companies/institutions owned privately and regulated by RBI. (Reddy, 2002, pp. 4) On the development of banking and financial sector reforms in India Reddy (2002) comments that reforms have changed the form of organization’s, ownership model, domain of financial institution operations in terms of assets and liabilities. Less availability of low cost fund has resulted in increasing competition for resources for both banks and financial institutions and further with the entry of banks in field of lending and financial institutions are making an attempt to pay out the short term funds has resulted in increased competition. (Reddy, 2002, pp. 4-5) Finally Reddy (2002) says that the aim of financial sector reforms in India to set formal semi formal measures which aim to strength the banking system as well as providing safety and reliability with the means of superior transparency, responsibility, answerability and public trustworthiness. (Reddy, 2002, pp. 6-7) However on the other end Patel (2004) argues that in spite of the establishment of market reforms in India since early nineties the government concerns in the financial sector is not lessened in correspondence to its exit from other feature of economic activity and therefore it is too large to justify the presence on the basis of involving systematic risk. Patel (2004) further puts that during early years of India’s development there might have been some good reasons for ownership of government in intermediaries but now it is causing some damages. (Patel, 2004, pp. 5-6, 28-29) Now India has proper intermediaries and very well commercially oriented. According to Patel (2004) â€Å"A combination of directing resources of intermediaries in fulfilling a quasi-fiscal role for government, extra-commercial accountability structures and regulatory forbearance (arising out of an implicit overarching guarantee umbrella) has mitigated the essential corrective effect of market discipline in both lending and deposit decisions. Coupled with persisting government involvement in intermediation and an implicit support scaffold, this has resulted in an aggravation of the problems of moral hazard that is a normal feature of financial systems.† (Patel, 2004, pp. 29) Commenting on the government role in liberalized economy Echeverri-Gent (2001) says that reducing state economic interference does not lessen the importance of state in economic development. And in addition to its role of maintaining stability in economy the state continue to play small but more important role to design and modify the activities of economy by creating incentives. There are different ways that are used by state in order to create the incentives; it involves authorization of property right, market microstructure which involves matching the investors demand with the price and volume in effective and efficient manner. (Echeverri-Gent, 2001, pp.1) (Giridhar, n.d., pp. 1-3) Echeverri-Gent (2001) also states that incentives created and recreated by state using political process are present in part of economic result. And politics explain efficiency and fair behavior in market are promoted by which state institution. (Echeverri-Gent, 2001, pp. 1) In relation to the above fact Ramesha (2003) finds that currently in India there is a dual control for credit cooperative and banks. The state government looks after and regulated all the issue related to administration where as Central Bank of India (CBI) supervises and regulates the banking operations. As a result there is some conflict in taking legal decisions between state government and central banks of India. Ramesha (2003) argues that it is not possible to separate the financial administrative areas for regulations and even if it is possible it acts as an obstacle in the effective supervision and control. (Ramesha, 2003, pp. 10-11) Further according to Ramesha (2003) central bank has power under Banking Regulation Act to keep money for specific purpose and to handle vital aspects related to the performance of commercial banks. There is need of Registrar of Cooperative Societies to get involved in the function and difficulties of cooperative banks. The central bank is not in a position to supervise credit cooperatives and banks. Therefore dual control affects the function of urban cooperative banking sector, supervision regulation quality. Therefore Ramesha (2003) finds that beneath this rule of duality of control the urban cooperative banks might result in neither cooperative nor commercial bank. (Ramesha, 2003, pp. 10-11) According to Chakrabarti (2006) the fundamental role of legal reforms in maintaining the growth of economy and financial progress is strongly voted and accepted in India. Where as it is difficult to find what basics of legal system have an effect on financial system and how. Reviewing the literature on law finance and evaluating the India’s legal judicial system it seems that excellent protection is provided to the investor’s right. (Chakrabarti, 2006, pp. 12, 15-20) According to Porta et al there is best protection provided to the creditor in India by Indian legal system in contrast to creditor rights. (1998 in Chakrabarti, 2006, pp. 13) But execution of these laws is below to the satisfactory level. Further it is found that law which deals with public enforcement of securities is weak and courts in India are very slow and has loads of ongoing cases. India is still fighting with the problem of red-tapism and bureaucracy which are obstacles for business and foreign investment in India. Chakrabarti (2006) says that Indian small medium sector rely on informal network and institution on the basis of trust and reputation for financing rather than counting on legal system to issue contracts and settle disputes. (Chakrabarti, 2006, pp. 23) Finally, Rajan and Shah (2003) says that there is problem in the regulations of banks, insurance companies and non financial institutions. There are a lot of problems related to the government guarantees, public sector ownership, processing of information risk taking. Therefore according to Rajan and Shah (2003) there is requirement to solve all these problems by obtaining good regulatory system, and obtaining world class regulations. Thus Rajan and Shah (2003) suggests that dealing with these problems will provide information processing system, reducing the fiscal problem, increasing the flow of risk capital in the system. (Rajan and Shah, 2005, pp. 46) 2.3 CULTURE OF UPPER AND MIDDLE CLASS CONSUMERS The word culture has several meanings, in Latin it means â€Å"tilling of the soil† whereas in most western language culture means â€Å"civilization† or â€Å"refinement of mind†. In simple words culture means way of life, art, behavior and beliefs. (Hofstede and Hofstede, 2005, pp. 2-4). According to Mooij (2004) culture is glue which joins groups together, without culture design it will be difficult for people to live together. It’s only the culture which defines a human community, its individuals and social organizations. (Mooij, 2004, pp. 26) Where as according to Kluckhhohn â€Å"Culture consist in patterned way of thinking, feeling and reacting, acquired and transmitted mainly by symbols, constituting the distinctive achievement of human groups, including their embodiments in artifacts; the essential core of culture consists of traditional ideas and especially their attached values† (1951, pg 86 in Hofstede, 2001, pp. 9) Each and every individual is a product of its culture and its social group therefore they have to act in certain manner to live in their social cultural environment. Culture cannot be separated from an individual neither culture can be separated from historical events/situations. (Mooij, 2004, pp. 26) Culture is found in local street, in your city, state, and country. Small children, youngsters, adults, older people have their own culture and most of the times share the culture as well. According to Williams culture is a way of life, people, group or humanity. Culture is not something we absorb- it is something that is learned. (1983b:90 in Baldwin et al, 1999, pp. 4-7) Culture includes shared beliefs, attitudes, norms, roles and values. These elements are basically transferred from generation to generation. Culture includes values, rituals, heroes, symbols. Values are basically feeling of a person having plus and minus side. It deals with evil v/s good, dirty v/s clean, ugly v/s beautiful .etc. values are acquired by a person at very early age in their lives. Values are visible until they become evident in behavior. In contrast to values, rituals are related to social acts, ceremony or something related to religion. Rituals are carried out by an individual for their own sake and usually involve paying respect to other ways of greetings. Heroes are persons alive or dead, real or imaginary whose characteristics are highly appreciated in culture and most of the times serves as a model for behaviors. For eg. Mahatma Gandhi in India or Bill Gates in USA. Symbols are words, gestures, pictures or objects that carry a particular meaning and are recognized by only those people who share a particular culture. It involves national flag or any particular dress or hair style .etc. (Hofstede and Hofstede, 2005, pp. 6-8) (Hofstede, 2001, pp. 9-11) The culture of people around the world is demonstrated in wealth celebrity and this is particularly true about people in western countries. According to Schor (1998) â€Å"Instead of emulating folks with a similar income, people are taking their consumption cues from television characters, relatives, friends and co-workers whose income often far exceeds their own†. Commenting on this trend Schor (1998) states that this can get expensive because it seems that their culture worship wealth and celebrity. (Web 14) There are 3 layers of culture. The outer layer consists of explicit culture and it involves language, food, houses, monuments, market, fashion and art. These are the symbol of deeper level of culture. Middle layer consists of norms and values. Norms is basically sense of what is right and what is wrong. Norms can be written laws or social control where as values determine what is good and what is bad. Values help in making choice from existing alternatives. And the third core layer is assumptions about existence which is related to the ways that deal with the environment with the available resources. (Trompenaars and Hampden-Turner, 2005, pp. 20-24) Hofstede and Hofstede (2005) has divided cultural layer as national level, gender level, generation level, social class level and regional/ethical level. National level is related to ones country or the country where a person belongs and with nation they have their culture, community. Gender difference is basically based on gender .ie. male or female. In some societies the culture of male is different from female. For eg. Women are not suitable for some particular jobs which are meant for men only. Generation level is separating grandparents, parents and children. For eg. Younger generation has no respect for the values of elders. Social class level is associated with individual’s profession and education because education and profession are the powerful sources of cultural learning. Regional level is based on person’s region and religion. (Hofstede and Hofstede, 2005, pp. 11-12) Today consumers are very much concerned with their identity, ego or superego which totally depends on their culture and most of the times related to the luxuries of life. Human needs are totally related to the culture. Needs like Psychological, safety, self actualization and esteem needs are very much important for consumers of each class. Consumers feel more powerful if they have symbols of power or prestige possessions. For e.g. Prestige possession for consumer is luxury car, big house, frequent travel abroad/holidays abroad. Clothes satisfy functional need but fashion satisfies social need. The behavior of consumer is not only determined by their needs but also by their surroundings. Consumers in same culture can do different things for different reasons. Ownership of luxury items shows the status symbol where ownership of cheap watches show low income of person. (Mooij, 2004, pp. 136-140) 2.3.1 Culture of Consumers Globally Schor (1998) also comments that how you save and spend totally depends on the reference that you choose and it rules the culture of upper and middle class, particularly in western culture of world. In order to make his observation solid Schor (1998) presents example of Americans, where he shows his concerns regarding consumerism. Schor (1998) states that Americans are spending and consuming as if there is no tomorrow, and the worst part is that they are not paying cash for it. Consequently, Schor (1998) cites that debt of personal credit card has doubled in last four years. The bankruptcy has reached on to the highest point and people are trading financial security for short term satisfaction. (Web 14) Schor (1998) also points out that the assets of an American family is $10000 and savings have fall down very quickly in last 10 years. In other words the western culture today commanded by influencing consumers, which forces the people to believe in wealth creation celebration and in result it leads to the tendency of high borrowing. (Web 14) Consumer research has given some evidence that within each social class, there are some specific lifestyle factors which involves beliefs, attitudes, activities and behavior. And all these factors help in distinguishing between the members of one class from other class. There are usually three main classes upper class, middle class and lower class. (Schiffman and Kanuk, 2000, pp. 307) A product can also express the value of consumer. For e.g. A house is not only to live but it tells something about the owner as well. Different towards food is also a part of the culture. Some people buy food from small shops where as some buys from expensive supermarket. Product usage and ownership also determines cultural values. (Mooij, 2004, pp. 233-236) In India the position of consumer in society is defined by the clothes they wear, the shoes, the accessories .etc. and all these things determines the class and power of a particular person. People do not wear in public what they wear in private, but in USA even Pr

Drug Abuse and Addiction Essay -- Drug Abuse, Substance Abuse

Drugs Abuse occurs when a drug is taken for unintended purposes and can lead to addiction. Addiction occurs when a person must use the drug to feel and function normally. Addiction occurs in two types, physical and psychological. Physical addiction is caused by the brain, the brain produces fewer chemicals or neurotransmitters to make up for the extra chemicals therefore the brain needs the chemicals from the drug to reach the correct balance and individual becomes out of touch with reality. Psychological addiction is much simpler, the individual simply likes the way a drug makes him/her feel and must have it, therefore becoming addicted. (Lawrence, F. 1996) Addiction has six steps. The first step is occasional use; a person takes his/her first drink or uses other drugs for the first time, and likes the way it feels and the way it reduces stress, the individual then starts using the drug in social settings. Step two is occasional trouble with drugs; a person shows mood swings or personality changes, they may experience blackouts, where they do not remember what was said or done. Step three is regular use of the drug; tolerance therefore increases and use of the drug can not be controlled and the individual denies having a drug problem. Step four is multiple drug use; drugs may be combined or switched for a new and stronger effect, the individual may then become a cross-addict or hooked on more than one drug. Step five is increasing dependency; the individual needs the drug to function and the drug no longer has the same effect. If the individual does not have the drug they will start shaking, feel sick, lose interest in school, family, or work. Step six is total dependency; the individual suffers from a maj... ...e in smokeless tobacco is addictive. Smokeless tobacco causes the production of more saliva and users swallow some without knowing it; this then introduces tar and other chemicals into the digestive and urinary systems. Cancer of the pharynx and esophagus may result. Irritation causes leukoplakia, thickened, white, leathery spots on the inside of the mouth. This can result in cancer of the lip or mouth. Users also get tooth decay, inflammation of the gums, loss of teeth, bad breath, discolored teeth and decreased ability and taste, especially salty and sweet foods. (Lawrence, F. 1996) Drug abuse is a serious issue. Not many people are aware of how serious it is. Drug abuse is so serious because it has physical and psychological affects that are fatal. Because of the fatal results drugs can have on the body people need to educate themselves and never use drugs.