Psy270 Week6

Checkpoint Mind Over Matter Week 6 What is the difference between mental illness and insanity? (Hint: What is the important second prong of the McNaughten rule? )  ·Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   The McNaughten rule cannot be used to defend the actions of a person who drinks alcohol and then murders someone. Why not?  ·Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Identify each of the following: o  Ã‚  Ã‚   Rational and guilty o  Ã‚  Ã‚   Guilty but insane o  Ã‚  Ã‚   Not guilty by reason of insanity  ·Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   If you were deciding this case, how would you rule? Briefly explain your decision.The difference between mental illness and insanity is mental illness doesn’t diminish the legal sense of a individuals capacity to know right and wrong. In terms of insanity, however it does indicate that an individual would not possess the capacity to know the differences between right and wrong. Mental defects such as diseases, retardation, or when hallucinations are experienced in some cases. The rule for McNaughten is simple knowing the difference between right and wrong and was the capacity affected to the point of not understanding a crime when committed. To use insanity in defense of a crime this rule had to be present in order to use.Mcnaughten’s rule can’t be used to defend intoxicated individuals because it is no longer used in some cases the rule was shortened and now it is knowing the difference between right and wrong. Since an individual is in a diminished state even if they know right from wrong even without mental disease individuals can use it in alcohol related incidents. Rational and guilty: When an individual is fully aware of the right and wrong of their actions this is the term used. Guilty but insane. Due to mental defect or disease and individual is not able to gain control over themselves even though they know the actions are wrong this is the term used.Guilty by reason of insanity. Such in the cases of Clark he had experienced a temporary state of impairment due to schizophrenia that resulted or impaired his capacity to determine right and wrong he thought the cop was an alien. Resulting in insanity temporarily this is the term used. My decision without all the facts and going on what I know from the reading Clark at some point knew what he was doing but at the time may have not and deserves a chance to make his way into a mental clinic for help now if he recovers and is determined sane he then should still serve out his sentence due to his knowing of his having a gun and firing it.If he can be effectively treated in prison then he should be given a half sentence due to impartial insanity. The fact the the police stated he lured the cop out and then ran was an indication of his guilt though regardless of mental illness he may have not been impaired after all. He should be sentenced to an institution where he could be effectively treated for his schizophrenia.

BICS and CALP Essay

BICS and CALP are unique in its particular style of learning, each one adaptable according to the availability of resources with a particular student. A view can be held that BICS are easily learnt via interaction with people in society, at home, and through media. The accuracy of learning is not accounted of unless an individual is passed through the channel of CALP. CALP brings out the best caliber among students and prepares efficient individuals as it is a whole package of hard work with strong components. Differences between BICS and CALP sno Basic Interpersonal Communication Skills (BICS) Cognitive Academic Language Proficiency Skills (CALP) 1 Offers the skills of communication, interaction that can be used in society and at home environment. Teaching of English language at school level offers fundamentals, basic grammar, speaking, reading, writing, with its strong components and an eligibility for master over language for further certification at graduate, post-graduate and doctorate level. 2 Very helpful in communicating with one another in day to day activities. Physical gestures [shake hand, smile, nod of head, wave of hand] also indicate and send a warm message to the receiver which is more effective and communicative tool. Involves excessive mental work in preparation of words including and applying knowledge at every step. Although it appears as a complex activity, there can be no other best or an alternative expertise way to prepare students for linguistic mastery at school and graduate level. 3 Home environment is sufficient as parents also contribute to the development of perfect etiquette in communications. However, it depends on home atmosphere where it said home is the preliminary school where the interaction begins with parents which works as a tool and motivates the child to take decisions about acceptance and refusal of a particular situation according to the development of mental perception of a student School atmosphere, influence of Teachers on students is predominantly heavy at teaching level. Students listen, understand, write, follow and practice that is being taught by the teachers. The entire responsibility is laid on Teachers. Therefore, on an average most of the teachers expect a meritorious grade from all the students as a record of good teaching level, irrespective of students private status. When this is not possible, teachers take every care about students understanding of English i. e. basics, grammar, phonetics, both writing and reading of English is at prospective and intelligible stage which is earmarked in evaluation of examination papers. 4 This appears very easy students who are perfect at CALP. It can also be easily taught through the medium of television, play school and etc. , which is also effective tool for BICS as television programmes such as cartoon network, pogo, Disney network also telecast programmes in favour of students to provide more effective understanding, accurate pronunciation of words which is entertaining and learning based. Learning of CALP requires, effort, hard work, constant persuasion, and periodical assignment evaluation through strict procedures of correction method to prepare students to be experts in CALP. Conclusion Teaching in classroom holds very good for CALP as each student is enabled with strong foundation of fundamental and basic strong communication skills to become a successful communicator as well to make a prospective career in a particular subject. An anecdote of a secretary and boss goes in the following manner: Boss dictated his secretary to send a telegram â€Å"May his soul rest in peace†. Duty bound secretary typed and sent the message in the following line: â€Å"May his soul rest in piece†. Here an identification is made about incoherence, lack of thinking or imperfect in English language which is unacceptable at every level. Therefore, it is important for a student to gain mastery over BICS as well CALP at school itself with the support of Teachers. http://72. 14. 253. 104/search? q=cache:gh4cm4R7Nt0J:www. ollusa. edu/FileUploads/PsyDHandbook. pdf+differences+between+BICS+abd+CALP&hl=en&gl=in&ct=clnk&cd=4&ie=UTF-8

How Women Directors Influence Corporate Governance and Firm Dissertation

How Women Directors Influence Corporate Governance and Firm Performance - Dissertation Example Women have been shown to have a positive influence on a board, from aspects of participation such as attendance and dutiful diligence, to higher rates of pay for directors because of observable increases in performance which denote higher rates of return. The female presence on a corporate board provides a variety of advantages to the overall performance of a firm. Male Domination in the Board Room According to Gomez and Moore the statistics of female representation on corporate boards â€Å"show a disproportionate representation of women on boards in relation to their roles in society as consumers and employees†. According to Sparrow, only 15% of the board members in the United States are women, with only 1% being CEOs. In comparison, Sweden has 23%, Norway has 29%, Finland 20%, and Denmark 18%, because of Scandinavian policies that are encouraging the expansion of roles for women at the corporate level. However, in other European companies there is a lesser representation than in the United States. However, the problem with the statistics is that it does not reflect the number of female board members who are no more than a ‘trophy’ member, who holds several positions on the boards of multiple companies, decreasing the actual percentage of women who hold these positions. According to Reeves â€Å"Women’s lack of representation on boards is signific ant because boards make high level policy decisions that affect large numbers of people, including shareholders, employees, and ultimately consumers† (19). When women are represented on boards, there seems to be a ripple effect as more higher level management positions are then held by women within an organization. According to Reeves, the increases in CEO’s that are women have gone from nine in 2006, ten in 2007, twelve in 2008, and 13 in 2009, so the power balance is shifting, but by 2009, that number of 13 still only represented 2.6% of all corporate CEO’s. Reeves reports that while the average corporation has 21.8 corporate officers, only 3.6 of these positions are held by women. In 2006, 75% of the companies on the Fortune 500 had no women in top-earning positions within the corporate structure. An example to the social deficit that this creates can be seen where â€Å"women are more involved than men in the healthcare decisions for themselves and for their families†¦(however) more than one third of the world’s top 500 healthcare and pharmaceutical companies have no women on their corporate boards† (20). According to Peterson and Philpot, the professional backgrounds of board members on corporate boards shows that women are just as qualified in experience and background as are the men, but that they serve less frequently on executive committees than do men. Peterson and Philpot also find that gender is related to the way in which members are assigned to boards, and that the resource dependent theory provides for the phenomenon of women serving on more human and socially oriented boards, with men providing more representation on financial and budgetary committees. They suggest that there is â€Å"some relationship between committee assignment, gender, and the resource dependence role of directors† (193). Using the theory put forth by Nussbaum, the capabilities based approach, the nature of female representation should not be considered by the nature of gender but

Marketing Essay Example | Topics and Well Written Essays - 2500 words - 24

Marketing - Essay Example It is a sure fact that marketing has addressed those areas which were deemed as the grey ones in the past by the people who had business dealings, undertook high-level strategies, initiated one to one connections and so on (Kotler 2003). This paper will take a keen look on the basis of marketing coming about in full circle and that too for the betterment of the masses in meticulous. Marketing is defined as the art of selling products and/or services through the effective usage of persuasion, psychology and repetition. One must believe that marketing employs a number of practices which are regarded as its sub-fields namely advertising, sales promotion activities, personal selling, public relations (or publicity) and direct mailing to name a few. With the passage of time, the definition of marketing has changed as it has included a pre-manufacture tilt to its basis with regards to a product and/or service. Selling gets differentiated from marketing in the fact that selling is only done when a product is made available on the shelf within a retail outlet while marketing starts even when there is an idea or concept of the related product and thus the whole game starts as a result of this hype within the relevant audiences. Marketing aims to pinpoint the needs of the target consumers and addresses the same whilst meeting their very needs through the purchase of the product/service and its ultimate usage. If there is no selling of the product, there would be no association of the need with the target audience and hence marketing might not be needed at all. Thus marketing looks to solve the problems in which the consumers are tied up and even when there is no problem at all – just to satisfy one’s desires – they are asked to purchase a product/service so as to have a better standing within a particular social circle or society. In other words, this encompasses the basis of self-esteem needs if not

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

Gynecomastia - Essay Example Although this condition worries those a lot that experience it, yet they are least likely to share what they experience with others because they don’t want to be made fun of. Most people are not aware of this condition and hence tend to make fun of the individuals that carry gynecomastia. As I read more, I came to know that people tend to go for expensive surgeries in order to get this treated, but most resolve to lie in pain with it because they don’t have the courage to discuss their problem with anyone. Thus, the patient lacks emotional support. I read the readers’ comments at the end of the article and many expressed that they wanted to do something about it but didn’t know how to go about it. This motivated me to interview a surgeon and seek his opinion regarding the treatment of gynecomastia. The first thing I did about it was get an appointment with the surgeon. He is a famous surgeon in a government hospital and has been performing surgeries for ov er 15 years. I had already prepared a list of questions that I needed his replies to. The questions were; â€Å"How often do you encounter the cases of gynecomastia? What are the possible treatments for gynecomastia? What is the cost of surgery and which is the most cost-effective treatment? How can gynecomastia be prevented?

Identity Theft in the Organization Research Paper

Identity Theft in the Organization - Research Paper Example However, in other organizations, this is something that is known. This is especially in hospitals where the patients use their social security numbers and in financial institutions. This paper discusses the issue of identity theft, how major institutions govern the information of clients and additionally, recommendations on how to stop identity theft. To start with, the organization can create the post of an ethics officer. The web surfing history of the employee is something that should be monitored closely if organizations want to be sure of the operations that an employee is carrying out. In addition, this is something that if an organization fails to adhere to, may lead to the loss of not only the data of the clients but the overall bad image of the organization. There are numerous ways and means of monitoring an employee’s web surfing and email history (Henk, Tilborg, & Jajodia, 2011, p. 1248). An ethics officer is someone who is employed by an organization to ensure that employees do not go against the rules and ethics of the workstation. This is a post that is however given to a very trusted employee since he or she is trusted to guide the other employees so as not to steal data from the organization. The workstation is something that is clearly important if the organization is dealing with matters that may lead to i dentity theft and therefore, there should be rules and regulations that govern the way the employees perform and conduct themselves. On the other hand, sometimes the employees fail to adhere to these rules and it is at this point that the ethics officer comes in. One of the major rules in an organization is that the employee should not in any way jeopardize the information of the client maliciously and use it for his or her own benefits. In other words, an employee should not be involved in identity theft. Monitoring the cookies information is also important Henk, Tilburg, & Jajodia, 2011, p. 1249).

Aviation Case Study Example | Topics and Well Written Essays - 250 words

Aviation - Case Study Example Most people avoid the airport if they have urgent business. The reason for these delays has been blamed on the capacity of the airport visa vie the growing demand. Possible revenue has been lost by the airport due to the delay. The problem has been identified and, therefore, measures to curb the problem should be developed. The airport has a potential market and, therefore, investment for redesigning of the terminal and ground access (runway) will be recouped faster. Expansion of the terminal will enhance the speed of security check and other services requisite for the passenger. Ground access give the chance for planes to land and take-off, and this delays plane from landing and departing, extra runways should be constructed for take-off and landing off planes. If the two elements are taken into account ALICE Spring Airport will be more efficient and more passengers will be lured into the airport. Passengers are always time conscious and will choose an airport where processes will be

Personal Effectiveness Essay Example | Topics and Well Written Essays - 2500 words

Personal Effectiveness - Essay Example There are hundreds of skills that you developed over time, but it is even more challenging to combine which tasks you are good at and which ones you enjoy the most. The reconciliation of both will determine your strengths. I am trying to identify my weaknesses and strengths all the time in order to make the most of my career opportunities. Besides, I realize that it is easier to focus and develop your strengths than trying to eliminate weaknesses. Every time I try to engage into a new activity, I am always naturally worried that I won't have the necessary skills for a new activity or responsibility. However, after I sat down and gave a thought about the type of role that I would like to fulfill, it became easier for me to look at the skills that I already have in abundance that will be suitable for that or another activity, responsibility. I have made a whole list of the things that I am excellent or good at, then a list of things that I am not good at or do not enjoy doing them. The list of strengths and skills helps me to identify what else I can work on and I have also developed an excel matrix and time schedule of things that I would like to work on and monitor my performance. ... I have developed a matrix in Excel, which will help me to structure my developments over time and keep on track my progress. COMMUNICATION Communication is an essential part of any activity, whether it involves working with other colleagues or with customers or clients, communicating with professors, negotiating with peers, etc. It is also one of the most easily identifiable transferable skills. After I have looked on how I communicate within my existing role, it's easy to see that I need to work on a more professional style of communication that will suit work environment better. WORKING IN A TEAM Teamwork is another easily identifiable skill. Being able to work with others is an asset in any role. During the last year I have been working 5 times in a team. In two case I have been leading the team of 6 people during the business game and during one we won the first prize, which is an example of a successful team player. However, my team role tends to have a slight hint of dictatorship, which I will work on and will try to develop more collaborative approach to team negotiation ship. In my opinion, being able to choose the role within a team is an excellent asset, as in a now day's society almost in every job I will have to work in a team and it is essential to be not only leading but also submissive. Level 4 Level 3 Level 2 Level 1 - Identifies strengths & development areas for members improvement - Provides development and training opportunities to others to improve performance - Gives subordinates advice and coaching to improve their technical skills - Gives honest and constructive feedback to team members to aid their development - Designs and delivers skills training in a variety of areas - Provides constructive feedback

Crime Control (SC3031C) Essay Example | Topics and Well Written Essays - 2000 words - 1

Crime Control (SC3031C) - Essay Example e by the state through the criminal justice system† (Davies, Croall and Tyrer, 2005) Legal systems in the civilized world – whether in civil or common law jurisdictions -- have, at least in theory, given primacy to the rights of the accused, understanding that ambiguity should be resolved in his or her favor. In practice however, we see how police officers routinely violate the human rights of those they apprehend. The implicit message is that these are criminals anyway – thugs, petty thieves, gangsters, punks, drug addicts, alcoholics – and they are doing society a favor by treating them brusquely. Indeed if there is one thing that distinguishes (or should distinguish) crime control strategies in contemporary times from medieval times or less-than-modern societies, it is the regard for due process and the rights of the accused. Furthermore, crime control is attended by rehabilitation for the offender and helping him take steps towards reintegration. In contemporary times, we see a departure, albeit gradual, from strong-arm tactics. It has, after all, been proven that there is a higher incidence of crime in states where the police force is known for their brutality. For example, in states like New York and Los Angeles where there is a relatively great number of cases filed against members of the police force for misconduct, the crime rate is astronomical. The strong-arm tactics of law enforcement officers have done little to quell the rising tide of crime and have in fact exacerbated it. On the other hand, the desire to preserve society and prevent crime is equally valid. It would seem that society has been ill-equipped to come up with answers and solutions to address it definitively (Norrie, 1996). It is imperative however to disabuse oneself of the simplistic approach that is often used when analyzing crime rates. Many are wont to believe that a rise in crime rates signifies a social problem, and a decrease is something to be lauded. In fact, a rise in

The Piazza of San Marco Essay Example | Topics and Well Written Essays - 1500 words

The Piazza of San Marco - Essay Example The essay "The Piazza of San Marco" explores The Piazza of San Marco, the heart of Venice. This is where the famous Grand Canal, the largest canal in Venice takes its beginning from and where the most popular sights are located. The square is very old and has its roots as far back as in the ninth century. It was created then as a small space in front of the Saint Mark’s Basilica, and later, in 1777, it was extended and preserved its size up to nowadays. As we are to compare the condition of the Piazza in the Renaissance (approximately in the year 1500) and nowadays we should mark that, according to the information above, the square remained in its original size at the time of making the map of Jacobo de Barbari and the painting by Gentile Bellini. Nevertheless, i should be mentioned that in the painting of another artist, Giovanni Antonio Canal, square has the same look as in the modern times. To add more, it is notable that the square isn’t actually a square, it is a t rapezoid (Imboden).Regarding the general composition, the location of the buildings haven’t changed over centuries, but the details have. The architectural dominant of the Piazza is the Doge’s Palace, a building that used to serve as a residence for Venetian Doges. The palace is built in Italian gothic style. The first building appeared at that place back in the ninth century and looked as a fortress. In 976 this building was burned as a result of the rebellion, and later rebuilt in 1106. The major part of the modern palace.

PATHSHALA -LIVING THE DREAM Essay Example for Free

PATHSHALA -LIVING THE DREAM Essay PATHSHALA -LIVING THE DREAM You see things say: Why? But I dream of things that never were and say: Why not? Bernard Shaw This idea clicked me when I joined my CA tuitions and MBA coaching classes. I was so frustrated going from one centre to other to study for my CA intermediate exam and MBA coaching classes. I had my cost tuition in north but tax tuition in south, accounts I had in east but financial management in far east and sometimes I had just 20 minutes gap for traveling and lunch. I had two or three tuitions of three hours each, daily. I was just pissed off with my regular routine. So I was wondering whether the problem is with me or everyone is facing the same problem. I with my friends wanted to research about this problem and what the student wants. After research I found that students in the metro today are looking out to build their career and they don’t compromise it anyhow, they want best tuition and institutes to nurture themselves. Also students today are looking forward to get best professors in respective fields to teach them. They have to travel a lot because one tuition they are having in east and other in the north. So lot of time is wasted in traveling and they don’t have much gap in tuition timings so they even have to skip their meals or even if they have time they have to go home and again pack the bags for evening tuition that means wastage of time and money in traveling. Students are not able to take multiple courses due to lack of timing because of wastage of time due to traveling from one tuition to other. Even parents are worried about their health and meals. Many times they have to skip their meals or else have to eat junk food whatever is available to them in short time. They even don’t get place where they can sit together and discuss things with their friends or have group studies. The main idea is to bring all the tutors and MBA coaching institutes at one  place so that it’s a final stop for all students. I have seen students running from one centre to other to enroll themselves to get registered if the seats are full they get frustrated and have to look at some other place again they have to check the availability of seats. It really so much frustration that we think why we joined CA or CS or CFA, etc. students are just fed up with all this and they want to get everything under one roof where they have best of professors and MBA coaching institutes at one place. Also they should be library or reading room and fast food centre so that they don’t have to go here and there and waste time. They all are looking for everything to the comfort at one place and believe me they are ready to throw money for that. It was this need for ‘something more something different’ that I wanted to serve to the students. The â€Å"PATHSHALA† my project where I will provide ‘the experience, the ambience, and the service’ STUDENTS are looking out for. Objectives The new experience, the ambience, the service the students are looking for keeping in mind basic needs, health and quality. A website www.pathshala.com would also be launched providing all the details of professors, courses, timings, availability of seats and online registration too. Concept: Why? The main reasons for choosing this concept: Providing total solution to students. Cater to the health of the students The students in the metro today are looking out for something more. We are giving them a different/new experience. Mission I want to: Change the meaning of education Impart best education Design the infrastructure with international standards. Save time and cost Give a new lifestyle! We are here to serve intelligence, quality, hygiene, health, freshness experience. Keys to Success The keys to my success are as follows: Best tutors and MBA coaching classes. Service our students needs promptly and efficiently. Maintain a professional image at all times. PATHSHALA would be located at strategic locations convenient to students. Providing education, library, and fast food centre and gaming zone at one place. A place that will motivate students to zeal in life. A website ‘www.pathshala.com’ giving all details and online registration. Feasibility Institute will be first launched in Kolkata, my home town. A venture of Rs 10 crores. Main challenge is to get the place in the heart of the city. Each and everything to be established at one go. Expected to cover every cost within two years. Once the institute is established we can move to others Metros.

Agora A Bangladeshi: Largest Super Store

Agora A Bangladeshi: Largest Super Store 1.0 BACKGROUND OF THE STUDY: The MBA program is designed to focus on theoretical and professional development of people open to take up business as a profession as well as service as a career. The course is designed with an excellent combination of theoretical and practical aspects. This assignment provides us to link up their theoretical knowledge into practical fields. In this connection, I was assigned to AGORA Super store Ltd., department for my practical orientation. Students are required to prepare an assignment under the guidance of supervising teachers on a selected subject matter to highlighting his experience and to conduct an in depth analysis on the subject matter. I have tried my level best to present my experience of the practical orientation in this assignment. 1.1 OBJECTIVES OF THE ASSIGNMENT To present an overview of Agora Super store. To appraise the Agora Super store Innovations and how store try to adjust with the Innovations. To identify problems store faces before the innovation. To suggest suggestions for the development of Store after the innovation. 1.2 METHODOLOGY OF THE STUDY The scope of this assignment is limited to the overall description of the company, its services, and its position in the industry and its marketing strategies. The scope of the study is limited to organizational setup, functions, and performances. (II) PRIMARY DATA WERE COLLECTED The primary data had been collected in various ways. The different sources were: Companys Website. By the companys HR division. Observing various organizational procedures. (III) SECONDARY DATA WERE COLLECTED From prior research report from the organization From different books and periodicals related to the store. From Newspapers and Internet. 1.3 LIMITATIONS Large-scale research was not possible due to time constraints. Relevant data and document collection were difficult due to the organization confidentiality. Non-availability of data in a systematic way. EXECUTIVE SUMMARY This whole report is a detailed study on a Super Store and how this store adopt with the technology, where Bangladeshi Super store called Agora has been chosen as a subject matter. However, this report only concentrates on the Bangladeshi branches. This report will be divided into a few parts and commences with an introduction. An introduction of the Store and the organization will give a brief picture of the analysis. The next part will be important work on academic literature which will help in better understanding of the whole cycle which includes triggers of Innovation, managing change, impact on organization, resistance of Innovations, how to overcome to resistance Innovation and management process. The next chapter will be on organizational analysis where all the information in academic literature will be related to the organization. There will be a thorough discussion on Technology introduced, steps taken by the management to deal with the resistance to Technology, evaluation of the Technology implemented as well as benefits and losses of the Technology. Further studies show the methods used (such as feedback forms for customers) to gather information to support the analysis in different ways. At the end of this assignment, there will be conclusions and recommendations for Agora superstore which can be done to improve the organization in respect to the current Innovation process. INTRODUCTION The technology that was selected by the concerned organization has led to innovation. Technology is the application of knowledge to the practical aims of human life or to the changing and manipulating the human environment. On the other hand, Innovation is a breakthrough approach or idea that can be completely new or idea that can be completely new or an enhancement to something that already exists, it is a refreshing perspective that will challenge many who just cannot see beyond what their own experience is telling them to think or do. (Stephen w. brian, GPE, IBM, Asia pacific, Elearn (2005, pp.2-3) refers to Innovation Management as periods of upheaval when radical action is required if the organization is to survive and prosper. As with any forms of Innovations, it is about moving from the current state to some desired future state. One of the prime change in our lifetime is the consistent and increasingly application of information managing technology. Managing technology is the continuous process which deals with technology replacing traditional private offices with the aid of technology. (Henry, J., Matle, D, 2003, p-266) Managing innovation is a step by step approach which deals with Innovation both from organization point of view and the individuals who are going to be affected by Innovation. Innovation is an important process for survival in this world. Before bringing any Innovations, it is important to know the causes of Innovations, reactions to Innovations and risks due to Innovations. The formal quantitative research process should not begin until the problem has been clearly defined. (Zikmund, 2000, p.115). The Super Store in the Bangladesh has been growing immensely year by year. Goods in Product vary from Store and area wise. However, many Stores had to be closed down due to the economic downturn that hit the world recently. There are many rules and regulation nowadays set by the government in Bangladesh to become the Superstore owner more responsible. The Largest Bangladeshi Superstore was founded by Mr. M. Hasan Ali. Agora is a Multi Super store that serves every necessary product for the people in Central city in Dhaka, Bangladesh. The first branch was opened a couple of years ago in central City Of Dhaka but now their branch is expanded the other entire metro city in Bangladesh. The main objective of the Super store is to provide high quality of products at a comparative price to the customer. The key success of the organization is that the management monitors the day to day operation which helps Agora to decide what, when and how Innovations can be introduced in order to provide better quality in all areas from time to time. Agora has crossed milestones, set records and redefined the dine-in experience ever since it started. Types of Innovation: Products and services innovation applied to products or services or market related activities. Operational- Innovation that improves the effectiveness and efficiency of core processes and functions. Business model- innovation that fundamentally. Business model- Innovation that fundamentally transforms the way a business works or drives revenue. How to be an Innovative Organization: Create a Strategic Vision. Establish innovation as a priority. Create organizational structures that promote collaboration Establish processes to convert ideas to Innovations Allocate the resources Train workforce on Creativity Tools Measure and Communicate results Recognize Creative behavior Reward Innovative results. ACADEMIC LITERATURE In Todays world to be a leader in industry you have to be innovative. Companies must be able to look forward at the strategy and know how to bring products to market faster than their competitors. Innovation is the key. Its not just for the technology, its for the business strategies as well (Handy, 1999, p.181) indeed, the way things are carried out and coordinated is essential to determine the success and failure of an organization. When organizations do not seem to be profitable, Innovations are introduced in order to have better outcomes. These Innovations might have been triggered from the outside or within the organization. Tidd et. al (2005, p.205) mentioned that external factors whether threats or opportunities have to be communicated to organizations in order to be innovative and have longevity. Customers seem to have greater effect on businesses as they are the ones who have the purchasing power. Requirements and tastes in customers selections Innovation from time to time in which organizations have to adapt to keep existing in the market. Competitors could be another factor which triggers Innovations. In Retail industry especially, customers have various selections of product and failure to follow their expectations will make the organizations lose out to other competitors. Setting up a business means it has to compete with existing competitors as well as potential competitors. Competitors are usually hungry for innovation and different strategies are used in order to be the market leader. Meanwhile, technology is another drive for Innovation that most organizations are now trying to adapt since it is the key to the new business era. Though technology tends to be obsolete very quickly, it is the fundamental factor of every business nowadays. Technology could speed up processes and work can be done more efficiently. However there are some factors to consider which makes a organization to technology oriented. The factor are given discussed bellow. Determined to new ways of operation: Its a difficult transition for the organization to replace the traditional working activities to technology concerned. So there should have some adjustments in terms of organizational cultures, the ways in which employees are working, performance measurement and rewards. Is the organization informational rather than industrial: This distinction refers to a management philosophy and style rather than to an economic sector or customer base. Here industrial context means the organizational structure and management processes are done through face-to-face incentives and employees remain specific workplaces. On the other hand informational means the activities are done through voice and communications. Open Culture and Proactive Managers: In this case the organizations have to be dynamic hierarchical, technologically advanced rather than a highly structured , command driven.. Also the managers have to be multifunctional , promoting and supporting a virtual-office initiative right from the start. Clear links between staffs, functions and time: Technology related organizations also do not depend on the specific locations or types of facilities. Here the concept of the parameters of the are important, such as whether the work executed over the phone, in person, via computer, or all of the above. How much time does the employee need to spend in direct contact with other employees , customers and business contacts? If a critical mass of corporate functions cannot work in an alternative work environment , the potential benefits may be too marginal relative to the required investment and effort. Proper tools, training, and techniques: To improve the technological oriented organization , all who are involved must be armed with a full set of tools, relevant training and appropriate, flexible administrative support.(Henry, J., Matle, D, 2003, p-268-270) Government plays an important role in bringing about Innovations as well. Different countries have different rules and regulations that companies need to abide to. Business policies are introduced by the government as to protect consumers and the country too. Nonetheless, these triggers are also accompanied by internal factors which have made organizations Innovation their ways in conducting business. Employees are the drivers of firms who will run the business. Employers have to make sure they are motivated and keep improving themselves for better productivity. When quality and standard of performance are degrading, management needs to find out the cause of it. Managing Change: Managing change refers to continuous improvements (CIPs) and creativity to improve both products and processes. The aim is precisely to design and implement a system whose natural equilibrium is constant and change. (Henry, J., Matle, D, 2003, p-230) Competitiveness and managing change: A clear demonstration pf how one understands the relationship between competition and strategic change, becomes imperative when the literature on management is considered. Any study of the nature of the nature of competition and managing strategic change is obliged therefore to do two things at the outset: first lay out the major approaches to these issues , and second make clear understanding competition and change.(Pettigrew, A., Whipp, R., 1993) Management Processes Organisations need to check from time to time if they are in line with their objectives. Once visions and objectives have been developed, management team will be able to take actions to move towards them. These can be answered by going through Innovation management. Ettlie (2006, p.97) refers to strategy making as the process of matching an organisations internal resources with environmental opportunities and risks to accomplish goals. Strategic management has three main stages; strategic analysis, strategic choice and strategic implementation (Johnson et al., 2008, p.12). Managers have to handle strategies in various situations as to meet corporate objectives. Strategic analysis could involve SWOT analysis and PEST analysis to assess the options for Innovation. (Source: Johnson el.al.) Figure 1: Strategic value Lynch (2006, p.450) describes SWOT Analysis as the analysis of the strengths and weaknesses present internally in an organisation coupled with the opportunities and threats faced by the organisation externally. Once the internal and external audits have been analysed, the next step will be strategic choice to identify the various options, evaluate them and selecting the best that fits with their desired goal. The best option will be implemented and a proper Innovation implementation needs to be planned for. According to Cook et al. (2004, p.58), managing Innovation can be described as consisting of four stages; set up, kick off, delivery and review. The stages come sequentially. Firstly, it is the set up, which entails letting people know about the Innovations that will be made and motivate them, looking out for the unexpected and assessing the state of the organisation in respect to their readiness to Innovation. Then, the kick off is the final preparation by putting everything in place which might require a project manager and good channels of communication. The delivery involves ensuring people responsible to carry out tasks. The final stage is the review by checking the feedback on how Innovation is affecting all parties involved and if it is yielding the desired results. According to Elearn (p.95), for Innovation management to be successful, management can conduct various strategies such as democratic, collaboration, participation, direction and coercion. Focus On People: Traits of an innovative Leader: Create an external focus: -define success in market items Be a clear thinker: simplify the strategy into specific actions, make decisions and communicate priorities. Have imagination and courage: takes risk on people and ideas Energize teams through inclusiveness: Connect with people, build both loyalty and commitment. Develop expertise in a function or domain: use depth as a source of confident to drive change. 3.2 Impacts of Innovations It is crucial to know how they handle failure (Coburn, 2006, p.179) Organizational Innovations are not easy to implement. Management needs to foresee outcomes of Innovations. Assessment needs to be done in order to find out whether the whole objective has been achieved and how Innovations affect the value chain of an organization. The activities within and around the organization are known as the value chain process. (Porter, 1995) (Source: http://www.learnmarketing.net/valuechain.htm) Figure 2: Value Chain of an Organization Hayes (2002, p.148) mentioned that people go through personal transition when Innovations are brought into organizations as Innovations are the beginning of something else. Reactions received from employees and customers might vary greatly. In short, everyone involved in the Innovation process is affected by the Innovations made by organizations. When one alternative is given up for another valuable alternative, it is called opportunity cost (Dibb et.al, 2006, p.395). The value of benefits offered is measured in monetary and non monetary form. Early judgment is made by management to choose the best option. Nevertheless, Innovations were never made if they were not for organizations better future. When a product or service meets customers needs, it happens to be a quality one. A quality product relates with employees good performance and improvement in reputation which will result in increased profits (Heizer and Render, 2004, p.190). These could only be achieved if management has a strategy in managing Innovations. Customers and employees feedbacks can be taken as a part of evaluation process. Whether it is beneficial or otherwise, management has to look at the bigger picture to determine the success or failure of Innovations imposed. Tidd et.al (2005, p.96) stated that a failed Innovation process could be a useful information for the next Innovation being enforced. Resistance to Innovations Human normally resist Innovations simply because they see it as a threat to their normal or familiar system of work, financial position, patterns of status and fairness of their security. Generally, the main reasons for resistance are as follows:- Economic Fears People are always concerned with any Innovations made by management because it could affect their income and their job security. But most importantly, they fear that either directly or indirectly, Innovation may affect their pay or rewards or they may undertake more responsibility for the same pay. For example, new shift system introduced by management may require employees to work extra hours without any payment adjustment. Inconvenience or Loss of Freedom According to Mullins (2002, p.823), if the Innovation is seen as a likely to prove inconvenient, make life more difficult, reduce freedom of action or result in increased control, these will be resistance people usually see Innovation, that it, would make life very difficult. Uncertainty People are not certain as to whether Innovation will be in their favor and most likely see it as having a negative impact. On promotion for instance, people may resist the uncertainty that whether such Innovation or promotion may demand more responsibility, which may affect their social life. Organizational Resistance If an organization has been adapted to their environment in which they operate, the whole value chain is already familiar to the organizations structure and policies. The organization as a whole can resist any Innovation which might affect the organization culture which the company has developed. Overcoming Resistance to Innovations Though, it is difficult to overcome resistance to Innovations, it is crucial to analyze the potential impacts on those whose jobs are affected. It is also important to involve those concerned in the Innovation process, so that they can contribute and make suggestions. This will result in reducing employees current fear. There must be a clear communication between employers and employees about Innovations implemented, either through written documents or a face-to-face communication with the workers. According to Pettinger (1996, p.502), resistance to Innovation can be lessened if: i participants see Innovations as reducing rather than increasing their workload. ii new wages of working accrued with prevailing attitudes values and beliefs. iii new ways of working are seen as benefits and not threats. ORGANIZATIONAL ANALYSIS AGORA however has been experiencing a few Innovations throughout their business years which are caused by several different factors, internally and externally. Their major trigger of Innovations introduced was because of the poor performance of sales made by AGORA recently. This has lead to bad reputation and image of the Store amongst its customers as well as potential customers. AGORA also wants to maintain the quality of Fresh Department that they provide so that they meet customers expectations. However, maintenance costs are quite high as all ingredients and sauces are brought all the way from different area in Bangladesh to maintain its quality. Workers in AGORA seemed to be de-motivated and disinterested in doing their jobs. Complaints had been received from customers for these workers were very slow in taking orders and even to serve Customer. As most of the employee are part- time, they lack of culinary skills and experience in serving customers. There was a poor coordination between communication Skills and Customer service experience. However, the major external trigger of Innovations was the customers of AGORA. The number of international customers was growing significantly. Numerous feedbacks have been received from customers who mainly complained about the service provided by AGORAs workers. They took ages to serve the customers. The poor performance of employees has irritated many customers who then preferred to go to AGORAs competitors. The existing competition has made AGORA to introduce Innovations to cope with the market. There was a room for technological advancement as AGORA faced a problem with time. Introducing new technology could increase the Customer orders accuracy and reduce customer complaints. AGORA had wanted to create a competitive advantage from the technological aspect. There was also a pressure from government in terms of rules and regulations of having part-time workers. Since workers of AGORA are all home and mostly student, they need to abide by law enforced. School leaving have been a real concern of the business because of the tougher regulations in place. Management Processes Strategic Analysis AGORA has developed objectives, which is an essential step for the organization about where the management team wants to be in the future. AGORA wants to increase customers and employees satisfaction, have a quality and productive workforce, improve operational efficiency, maximize the use of technology as well as have a financial success. AGORA had to analyze its internal and external environment, by using PEST and SWOT analysis. They had to start their analysis from within which began with their staff. Problems were identified after an analysis has been which were mentioned earlier in the Triggers of Innovations chapter. Strategic Choices AGORA is not the only Central City in Bangladesh its expand their business all over the Bangladesh thats why many competitors are in the market. Competitors grow like Family needs and on top of all that; AGORA has to compete with other types of superstore. Thus, AGORA had to provide customers with products or services that are perceived higher value or quality than those offered by rivals. In order to increase customers satisfaction, AGORA had asked for customers feedback as to improve their performance. Since most of them were not satisfied with the service offered and the decreasing quality of the product offered, AGORA found a few options to improve their performance. They could train their staff to perform better, bring more professional Staff from other departmental Store. Technology was an idea, introduced to the organization as a part of improving performance. Since there were always miscommunications between customers and employees as well as amongst employees themselves, a new technology called Palmtop seemed to be a good investment. It is a small machine which will pass orders keyed in by customer on online and send it to the customer service department as soon as possible. This however, requires knowledge in handling this Technology. When it came to handling employees, managers of AGORA had to brainstorm on effective means of improving workers performance. Some managers from different countries were brought to the Bangladesh as to help out the management. Options such as training and development, knowledge management and salary increased were considered. AGORA wanted to recruit an IT expert who can handle all kind of IT issues and gives training regarding technology.. Since the Bangladesh government has tightened its rules in employing Student workers, AGORA had to deal with this professionally. AGORA could either train Full time employees to serve the customer and handling the other related service. The process of acquiring foreign manager seemed easy but maintenance cost would be high. The latter would be time consuming, but provide better quality. Strategic Implementation and Innovations Adopted After evaluating strategic options, the management of AGORA had decided to make Innovations in their existing operational system. Management had a meeting with employees and informed them the Innovations that were going to be adopted. Though the company is keen in cost cutting, it does not want to compromise in terms of quality. Operating costs were also cut by reducing the break time of workers which would lead to reducing of wages. Meanwhile, the Innovation leadership team had made a survey with IT firms. After conducting a cost benefit analysis, AGORA had agreed with an IT firm to acquire the new technology by buying Palmtops and printers. Staff had been trained to improve customer service and standard. A training manual has been given to each employee. Employees were also trained on how to use those Palmtops confidently. The Innovation team had decided to internally motivate the staff instead of recruiting new staff. AGORA also started to deal with the government properly by going through a complete process of acquiring full time workers for the different positions. Once AGORA had adopted the Innovations, questions of continuous progression were raised by management. Management wanted to maintain the benefit of Innovations in an equilibrium position. Monthly meetings with employees were arranged and twice a year, AGORA would conduct a big meeting with managers. Resistance to Innovations and Overcoming Them Through a thorough investigation the management found a few drawbacks faced by AGORA. Product of AGORA opposed the idea of other store because now AGORA is trying to produce their own product as of their own brand name which will be the different than the other competitors in the market. Existing employee felt unsecured about their job since the introduction of new technology. They thought management would reduce the number of workers because of the Palmtop acquirement. Meanwhile, some others were afraid of being replaced for not knowing how to handle the machine. Management made a crucial move by giving adequate training in technology to all staff and delivery was monitored for every customer. The challenging part of the Innovation was to train the part-timers. They did not think it as beneficial to them since the training did not ensure an increase in salary and they did not plan to stay longer in the field. AGORA managers then decided to give certificates for the training program and it actually attracted more students to join the organization. BENEFITS TO THE ORGANIZATIONS There were a few opportunity costs involved as AGORA was trying to cut down the maintenance and operating costs. Nonetheless, this is to provide higher profits for AGORA in the future. It is evident that sales curve has been moving upwards since these Innovations were adopted. Financial performance has shown an increase for both branches of AGORA. Although there were negative feedbacks from employees, their standard in serving customers were also improving by miles. The length of time from ordering to serving foods was cut by half of time because of the new technology employed. Employees were seen more serious and motivated in doing their work too. Since customers are the greatest assets of AGORA, they are the ones who get the most benefits. They receive better service, higher quality of food, and unforgettable experience from AGORA. Despite the lower operating costs, quality of food seems to be improving. Customers believe that AGORA has really improved its operation. AGORA now has more customers than it did months ago. Financially, AGORA has becoming more profitable and an enjoyable place to eat at. CONCLUSIONS AND RECOMMENDATIONS It is no secret that AGORA has seen great improvement after Innovations have been introduced. It has been a long process since the realization for Innovation occurred until now, when some of the Innovations have been implemented. Today some of the Innovations have been adopted, and the problems and struggles seen when Technology was brought about have been perceived. Evidently, AGORA has experienced major benefits from Technology that was implemented. It has been noticed by management and staff at AGORA that Technology is necessary, and even though it presents difficulties, and involves people to get out of the comfort zone, in the end if managed appropriately, Innovation brings positive outcomes. Nevertheless, Innovation should be an ongoing process in any organization, and it should be like that for AGORA as well. Even when some of the Innovations are fully implemented and adopted, management of the organization needs to remain focused on constantly finding new triggers for Innovation so that the organization remains in constant evolution. Therefore, below are recommendations made for AGORA: A timeline should be set until all identified Innovations are adopted. It is important to realize that not all the Innovations have the same priority, and not all of the Innovations need to be implemented at the same time. The timeline should be broad and well planned and Innovations are prioritized. A very thorough cost analysis should be done on new Innovations that are to be implemented. AGORA should be very careful not to have higher opportunity costs than the benefits that any Innovation may bring. Whenever there are options, the potential benefits of an option should be quantified, and then compared against the implementation costs. If the implementation costs are higher than the benefits, such option should not be considered. AGORA should take advantage of the Bangladeshi fair trade as for the ingredients needed. This would stem the tide of AGORAs spending and reduce operational costs. AGORA should also start a deliberate policy of training and re-training their human resource personnel. AGORA should motivate their staff through better remuneration and emoluments; this is to make them give their best to AGORA. The use of technology should be perfected to help the operation of AGORA from the waiters to the chefs in the kitchen. There should be a synergy between them. Finally, communication needs to remain an important trigger for Innovation. It is at the center of evolution in any organization, as this is what helps identify areas of weakness or areas where Innovations may be implemented. In addition,

Amputation Of Arms And Legs Health And Social Care Essay

Amputation Of Arms And Legs Health And Social Care Essay Multiple health need is a theoretical account to have an comprehensive view on multiple interwebbing needs of a client which pairs health and social issues. There cannot be a common frame work for the complex needs for all, but it is individual specific and need separate response from care givers. (Rankin Regan) Client Discussion A 37 year old client named Mr Shaiju came to the emergency department with alleged history of road traffic accident (RTA) in which a lorry ran over the tibia of the left leg. On admission Mr Shaiju had immense pain over the left leg and was having tachycardia and hypotension. The skin over the left tibia was degloved and the client looked apprehensive .On radiological examination Mr Shaiju was diagnosed with a compound fracture of tibia and fibula. The orthopedician advice for a Below knee Amputation since there was popliteal artery injury along with nerve injury and bone fracture, which when associated together in patient is a higher risk to end up into amputation (K. Rerkasem 2006), even though the patient had history of Type II diabetes Mellitus by considering the finding of Guo Jiong Jiong et al (2009) that immediate operation is possible in a patient with fracture. The client was moved with traction splints to Surgical Intensive Care Unit (SICU) after taking routine investigatio ns like blood routines (HIV , HbSAg screening, Liver Function Test, CBC ESR and Urine Routine, Random Blood test, Urea , Creatinine) and ECG . In SICU Mr Shaiju was prepared for surgery. Amputation is the method of surgical removal of a limb or a portion of limb which no longer be beneficial for the person, instead it produce immense pain and cause threats to the life of individual because of injury or infection. Below Knee Amputation is the process of surgical removal of lower portion of leg beneath from knee joint (Riley Lee Richard 2005).This can arise to many interlinking needs for the patient like economical social, psychological demands which are not directly linked with condition but play a crucial role in the recovery of the patient Relevance In order to mention the multiple health needs of the patient with below knee amputation, practitioner use the above mentioned case of Mr. Shaiju who was a victim of RTA because he was drunken and driven cycle into a lorry and broken the tibia and fibula of right leg along with injury to both nerve and artery resulted in below knee amputation. This client is a perfect example of a case of multiple health need of patient undergone amputation since he is having all needs To protect confidentiality all the persons are mentioned with pseudo names in accordance with Nursing Midwifery Guideline in 2008 The subject of this case study Mr Shaiju is a 37 year old who has been admitted in authors unit with severe injury to right lower limb because of RTA.On physical examination his height was 168 cm weight was 68kg and Body Mass Index (BMI) was .He was hypotensive with Blood Pressure and Tachycardic .On auscultation he was having crackles and he was having an episode of cough since one week. He was having a surgical mark on the left iliac region of abdomen. He was having a muscular build and the rest of all system was functioning normally. He was assessed for fracture, abdominal or head injury by observation, neurological examination and also an abdominal ultra sonography and results of all those were negative. System wise Examination 1. General Appearance: Muscular body built. He was apprehensive and cooperative to author despite of severe pain he was having. 2. Skin: Good skin turgor,but skin is dry and pale over palm and lower extremity 3. Head a) Skull is normal, round appearance with no sign of injury or bruise mark. b) Hair is thick and some are white in colour c) No visible facial abnormalities 4. Eyes a) Pupils are equally round and reactive to light and accommodation b) Eyebrows are equal c) No evidence of periorbital oedema d) Cornea is smooth e) White sclera 5. Ears a) No foul smelling discharge present b) Normal position of pinna c) Recoil of pinna is present when it is folded 6. Nose: No abnormal discharge present 7. Throat Mouth: No obvious swelling and sore present, Normal Deglutition and gagging reflex present. 8. Neck a) No visible enlargement of thyroid gland and jugular vein distension 9. Chest: Normal appearance, no gynecomastia present 10. Cardiovascular: No cardiac murmurs, normal rhythm of pulse 11. Respiratory: Crackles on the both lungs with frequent coughing 12. Gastrointestinal: No organomegaly present and normal bowel sounds present. 13. Extremities: No abnormality found other than crush injury over right lower limb 14) Urogenital System: Normal urine output present, no haematuria or pyuria present 15) Neurological System: Normal reflexes present Past Medical History The past medical history was not good when the operation while considering the possible complication associated with it. Shaiju had severe medical histories like Type II Diabetic Mellitus (DM), hypertension and also chronic alcoholism He was diagnosed of having diabetics in 2006 and was on regular oral hypoglycaemic. In the year 2007 he was diagnosed of a victim of chronic renal failure as hypertension is a main predisposing factor for the disease ( ).He was on regular haemodialysis as this is the best treatment option available for chronic alcoholism ( ) beside with the supportive medication. Past Surgical History He had undergone appendicectomy one year before and the operative and post operative history was uneventful. He had developed a heterogeneous mass in the hilum of liver and on later examination it was found to be a cyst and Endoscopic retrograde collangiopancreatography (ERCP) was performed .On ERCP gallstones and stone on hepatic duct was found out and removed and a drain was put to remove pus collection from the cyst. Living Standard Family History He is having a nuclear family with wife and three children and he is the only bread winner of the family. His parents were died because of old age and cause of death according to him was because of Cardiac Arrest. His uncle and mother was having DM and hypertension. He had four siblings in which three of them died because of cancer and another one recently died because of RTA, so he was very stressed since he also encountered with an accident. Financial Status He is a coli worker and belongs to a socially deprived group of society. He did not have support from any other family member since he is the only earning member and his other relatives are belong to low socio economic strata .The subject was living in a rented house. The roof was tiled and having accessibility to safe water. Nutritional Status He was well nourished and is a non vegetarian. He was taking foods four times a day and had at least 8 glass of water per day. MANAGEMENT AND TREATMENT Crush Injury of Lower Extremity Physiological Function  ¿Ã‚ ½ To bear the weight of the body.  ¿Ã‚ ½ To enable in locomotion. The main focus of the orthopedician is to manage the condition by below knee amputation, even though that may be considered as the failure of surgeon to perform amputation since due to the advancement of surgery in micro vascular technique, revascularisation and internal fixation of fracture (Ertl Jan 2005). But in this case the bone was fragmented due to crush injury by RTA.A transtibial procedure was used. Informed consent was taken from the patient and the risk for above knee amputation was explained. The patient was given supine position and tourniquet was applied. An anterior-posterior incision was used. The muscle layer was dissected first and followed by the neurovascular structures. After the soft tissues dissected the osseous tissue is approached using chisel. After the dissection is performed anterior flap is attached to posterior flap. Drains are placed to prevent the formation of hematoma and the extremity is wrapped in sterile dressing and plaster cast is applied with le g in extension. The splint was removed on 7th day, as the normal duration will be between 2-7 days (Ertl Jan 2005). The patient was on broad spectrum antibiotics since he was a high risk candidate for infection due to diabetics mellitus ( ) and NSAIDS. ALCOHOLISM ALCOHOL WITHDRAWAL SYNDROMME Alcoholism is a condition arises because of either psychological or physical strive alcohol is consumed which is manifested by behavioural and responses of other kind and is associate with a temptation to consume alcohol to get its physiological effect or to nullify the effects caused if you not taking alcohol. (World Health Organisation 1992). Alcohol Withdrawal syndrome is a group of clinical manifestation which arises due to the reduced concentration of alcohol in the blood , which is essential for the normal functioning of that individual since the body developed dependency to alcohol ( Winnington J et al 1998 ) Pathophysiology The reduced intake of alcohol because of long post operative period caused decrease of alcohol levels in patients ¿Ã‚ ½ blood so that body cannot perform the normal function, since his body developed dependency. The withdrawal symptoms were sweating in night, tremors, increase in heart beat and respiration, reduced amount of sleep, agitation and irritability. He was aggressive and also had auditory hallucination. Treatment. The patient developed alcohol withdrawal syndrome on the 3rd post operative day, the common complication of alcohol abstinence after a long history of drinking. The patient was referred to psychiatrist and was advised to give Polybion an Intravenous drug of multivitamin and Serenenace tablet in order to make the patient calm. Diabetes Mellitus Diabetic Mellitus (DM) is a metabolic disorder in which there may be absolute or relative absence of insulin hormone or resistance of insulin or a combination of both which deter the proper carbohydrate, fat and protein metabolism. DM is of two types 1. Non insulin dependent diabetes mellitus or NIDDM or Type II DM 2. Insulin dependent diabetes mellitus Anatomy Physiology Pancreas is an endocrine gland situated behind stomach and it is in the left upper quadrant of abdomen .It is an exocrine as well as endocrine gland. . The two important hormones are Glucagon and Insulin. The former convert glycogen stored in body tissues to glucose for meeting energy requirement and the later do vice versa that is glucose to glycogen. Pancreas is having three pats head neck and tail. It is supplied by pancreaticoduodenal and splenic artery and pancreaticoduodenal vein. Pathophysiology The risk factors for DM can be grouped as non modifiable( age, family history , ethnic origin) and modifiable risk factors (Obesity, hypertension, polycystic ovarian disease , viral infection , drugs , stress and gestational diabetics mellitus ) .Mr Shaiju had family history ,and hypertension . These caused hyperglycaemia. The hyperglycaemia cause increased glucose uptake which penultimately leads to cellular starvation and ultimately in polyphagia since satiety centre is stimulated because of the starvation. The hyperglycaemia causes increased glucose elimination from kidney since it exceed renal threshold. This result in polyuria since more water will be gone out since glucose will attract the water. The hyperglycaemia increase blood osmolarity which in turn result in polydypsia since intracellular dehydration occurs as fluid shifts from intracellular to extra cellular space and also it result in reduced blood flow which causes complication of diabetics like dry itchy skin, nephrop athy, neuropathy, retinopathy and confusion. Mr Shaiju was devoid of complications and had polydypsia, polyphagia and polyuria. Treatment Throughout the days the blood sugar level of patient was very much raised due to underlying history of diabetics and stress due to hospitalisation. The patient was advised to start insulin injection subcutaneously from 2nd postoperative day since the oral hypoglycaemic agents was found ineffective, with the advice of doctor specialised in diabetics. Chronic Renal Failure (CRF) Anatomy Physiology Kidney is a retroperitoneal bean shaped organ situated between T12 and L3 vertebrae and is guarded by 11th and 12th ribs. The basic functional unit of kidney is Nephron. The physiological functions are excretion , controlling the fluids in blood , maintain ionic regulation of pH of the body fluids, it share the function of synthesising vitamin D along with skin, and it maintain red blood cell concentration. CRF is a disease condition in which kidney cannot maintain body ¿Ã‚ ½s normal internal environment since there occurs gradual progressive deterioration in the number of functioning renal tissues. Pathophysiology There are predisposing factors (Age above 55 Family history of DM and Hypertension) and precipitating factors (Life style like smoking and alcoholism, certain diseases like hypertension and DM, recurrent infections). Mr Shaiju had the family history of DM and hypertension and also had both diseases and he was a chronic alcoholic. These factors caused thickening of small vessels and deposition of collagen in them resulting in decrease blood flow. This causes glomerulosclerosis and thereby reducing glomerular filtration rate (GFR).This result in gradual progression through 5 stages according to the Kidney Disease Outcome Initiative Classification. Stage I: GFR will be normal (>90ml/min/1.73meter square) Stage II: GFR will be mildly reduced (60-89ml/min/1.73meter square) Stage III: GFR is moderately reduced (30-59 ml/min/meter square) Stage IV: There occurs severe reduction in GFR(15-29ml/min/meter square) Stage V : There occurs failure of kidney ( Mr Shaiju was on 4th stage of CRF and had pruritis, anorexia, and decreased libido. Treatment The patient was having a history of chronic renal failure and hypertension so he was given antihypertensive (ACE inhibitors), loop diuretic, vitamin and mineral supplements and especially Vitamin D supplement. There was a high concern for the worsening of the disease because of the high course of antibiotics science kidney is the organ meant for excretion of waste products of drug metabolism ( ) . He was on protein restricted diet. The author as a nurse practitioner looked the patient holistically like physical, psychosocial and economic dynamics rather than particular disease. PHYSICAL DYNAMICS Alcoholism is associated with many medical problems which is harmful for the normal functioning of the body. It also is the causative factor of RTA as in the case of him ( in United Kingdom one in seven RTA is due to alcoholism) and problems with co-ordination ( Ritson Bruce 2000).There will be a great expectation of the patient for health care professionals to ask about the drinking habits of the patients (Kaariainen et al 2001).The hospital is the best site for prevention since the admitted patient in the hospitals demonstrate high willingness to change (Emmon et al 1992).The nurse practitioner used this opportunity to identify yhe dangerous alcohol consumption habit of the patient and given counselling as stated by Lock et al on 2002. The nurse practitioner identified the risk of developing contractors a major concern after the amputation (Christian Adrian 2006) and also the physical movement act as the stimuli in mechanical form for the skeleton in maintain normal homeostasis of bones (Lundon Katie 2000).The immobilization cause sudden loss of bone mass (Krolner et al 1983). So the patient was given range of motion exercises along with physiotherapists. The residual limb was covered with elastic bandage so that the residual limb attains proper shape and is devoid of swelling (Christian Adrian 2006). Mr Shaiju had muscle pain skin pain and bone pain and he was given health education regarding that the former two will diminish quickly and the later will last longer as quoted by Erhl Jan in 2005. The patient was given special care for phantom limb sensation and given massage from mild to severe pattern and also towel used , both for desensitization so that the nerve reflex is reduced (Riley Lee Richard 2005).The pat ient was given health education that residual limb should be kept covered and elevated in order to enhance blood supply and wound healing. From physical examination nurse practitioner identified the crackles in the lungs and cough. The patient was given chest physiotherapy and steam inhalation so that the present condition was relieved. The stress of operation results in an increased circulatory adrenaline, adrenocorticotrophic hormone, cortisol and growth hormone which result in deficiency of insulin in body and also develop resistance to insulin (Heller 2002). The nurse practitioner identifies the tough job to find out hypoglycaemia in a sedated patient after surgery since the diabetic patient. The patient ¿Ã‚ ½s blood glucose was checked half hourly to relieve the risk of hypoglycaemia and its complication. The nurse practitioner identified the risk of decline in physique and functional capability in haemodialysis patient (Johansen L Kirsten 2003). Adequate attention was given for this aspect and patient was approached with that mind set and was referred to dietician for preventing malnutrition. PSYCHOSOCIAL DYNAMICS The nurse practitioner given information regarding the temporary problem with verbal, visual and spatial learning, which would be regained within few weeks if the chronic alcoholics abstains from alcohol (Ellenberg Leah 1980).The point about the alcohol hinders the performance of suitable form of behaviour and self interpretation regarding events happened in past (Hull G Jay 1981) was informed to patient. The patient was also informed regarding the loss of functioning in which alcoholics deter better processing of information and physical activity and also the increases chance of aggression after consumption of alcohol (Hull g Jay1986). ECONOMIC DYNAMICS The term diabetes mellitus denote a severe issue to health care because of the increasing cost and the hindering nature of disease on the individuals affected to live a better quality of life. The complications of DM can be prevented by proper primary care which reduce two third of the cost. Physical activity and weight regulation promote reduction in the expenditure for mortality and morbidity (G John 2009). REHABILITATION The nurse practitioner coordinated the rehabilitation team which consist of dietician, social workers, occupational therapist by proper referrals, informing the proper condition and improvement of patient and helping them in the rehabilitation process.

The Relationship Between God and Evil Essay -- Christian God and Evil

Evil exists. This bizarre conundrum has perplexed philosophers since the dawn of civilization, and remains in hot debate today because of the theological implications inherent in the statement. To many on this planet, the source of life is an all-loving, all-powerful, omniscient god who created the universe – and all the laws therein – in seven days, as described in the Bible. And yet still, evil exists. How can these two premises be simultaneously true? Surely, an all-loving god would want to do something about this problem, and an all-powerful god could absolutely remedy a situation if it so desired. It seems as though the common perception of the Bible’s god is inaccurate. However, it could be argued that the Bible’s god is accurate, and that said perception is somewhat skewed, considering that on numerous occasions, God claims responsibility for evil. â€Å"I make peace and create evil. I the Lord do all these things.† (Isaiah 45:7). The Greek philosopher Epicurus put the Good God’s Evil puzzle in a very clear logical progression: â€Å"Is God willing to prevent evil, but is not able? Then he is not omnipotent Is he able, but not willing? Then he is malevolent Is he both able & willing? Then whence cometh evil? Is he neither able nor willing? Then why call him God? Of course, this doesn’t truly disprove the biblical God, but it certainly puts it into perspective. According to Christian doctrine, God raised His Son, Jesus, from the dead. This seemingly impossible feat proves, in the minds of believers, that their god is capable of anything. But as indicated by Epicurus, the monumental roadblock of suffering hinders this leap of faith. For example, if God raised Jesus from the dead – and thus intervened in the ... ...lized by – God, Dr. Roth’s Divine Dichotomy of the Christian God is now comparable to the duality of the Eastern yin-yang. â€Å"Good† and â€Å"Evil† are clearly inherent in the universe, and are inevitably built into the fabric of all models of the Divine. Works Cited James, William. The Varieties of Religious Experience. New York: Simon & Schuster Inc, 1902. Laertius, Diogenes, and C, D Yonge. The Lives And Opinions Of Eminent Philosophers. City: Kessinger Publishing, LLC, 2006 Mackie, John L. "Evil and Omnipotence." Mind ns 64.254 (1955): 200-12. Http://www.ditext.com. Web. 20 Nov. 2015. Peterson, Michael. â€Å"Toward a Theodicy for Our Day.† Evil and the Christian God. Grand Rapids, MI: Baker Book House, 1982. Roth, John K. â€Å"A Theodicy of Protest.† Encountering Evil: Live options in Theodicy. Ed. Stephen T. Davis. Atlanta: John Knox Press, 1981.

Flannery O’Connor and Working-Class Literature :: Biography Biographies Essays

Flannery O’Connor and Working-Class Literature Although Flannery O’Connor could not herself technically be called a member of the working class, the majority of her characters exist as â€Å"good country people† or those who have been displaced from the city to the farm. Whatever the situation of the characters, rural, working-class life is nearly always the focus in her work. Just a few of the critical elements of the working-class genre that O’Connor offers in her pieces include: a show of the many differences between classes, chiefly the ideas that working-class people are happier in their station in life and also experience less loneliness than those of the upper classes, and a heavy focus on the authentic dialogue of the southern working classes. She employs these elements expertly in her work. O’Connor’s texts often address the differences between the working classes and the â€Å"owning† classes. In their article, "Toward a Theory of Working-Class Literature," Renny Christopher and Carolyn Whitson comment that â€Å"working-class culture does not celebrate individuality. It instead recognizes the interdependence of units of people: family, community, friends, unions† (76). O’Connor confirms the benefits of community that the working class offers by showing upper-class loneliness. In â€Å"Good Country People,† the farm owner’s well-educated daughter is very depressed and lonely but chooses to be so. When her mother and she walk the fields together, the daughter’s â€Å"remarks were usually so ugly and her face so glum.† She rigidly interacted with her mother, not showing any signs of family, community or solidarity with her at all. She informs her mother, â€Å"if you want me, here I am – LIKE I AM† (274). There is no willingness to commune. Loneliness is also shown among many other middle-class characters in O’Connor’s work – the farm owner in â€Å"The Displaced Person,† the teacher Rayber in â€Å"The Barber,† and Mrs. Turpin in â€Å"Revelation† are some additional examples. Christopher and Whitson claim that â€Å"working-class culture has its own exceptional people who do not choose to leave their culture.† O’Connor’s pieces support this idea. Often she paints the middle-class characters in her pieces as ridiculous or unhappy where the working-class is seemingly well-adjusted and satisfied with their place in life. Old Dudley, in the story â€Å"The Geranium,† finds himself living in â€Å"better† conditions in New York City, having left the poor country life as a boarder and fix-it man in Georgia.

Total Institutions Essay -- essays research papers

Total Institutions   Ã‚  Ã‚  Ã‚  Ã‚  In the year 1961, the author, Erving Goffman, published a book consisting of text and studies on mental patients and inmates, in what he has called â€Å"total institutions†. There is a large focus on the life of mental patients, due to his year long study in an American institution. However, the center of my reading was based on the institutions and the lifestyles that are reached when placed in such establishments.   Ã‚  Ã‚  Ã‚  Ã‚  When describing these institutions the author referred to them as segregated communities. This is exactly what they are. One is cut off from the outside society, with little or no contact at all until the inmates stay is over. The character of these institutions is one that is an intimidating barrier to the outside world. One who’s barriers could be as simple as a fence or a locked door, but as distinct and scary as the high walls, thick bars and razor wire topped, electrically protected fences of today’s top penitentiaries. Every institution provides a new world to its members, in most successful cases, changing the perception and reality of the inmate.   Ã‚  Ã‚  Ã‚  Ã‚  Through the years of research conducted by the author, Goffman concluded that the total institutions in our societies breakdown into five rough groupings. There is room to expand on each one of these groupings as these findings are not precise, interpretation is the key when classifying the establishments. His first conclusion was to classify all institutions that were established to care for people who were incapable and harmless to themselves and one another. One may relate to these institutions as the may be part of our lives on a daily basis. This may be the nursing home where the elderly, widow/widowed grandmother/father is living out his last fine days on this earth. It could be one of the less than desirable child rearing homes, such as an orphanage. Or this category may also include where the unfortunate, the wanderer, and the vagrant all congregate, our nations homeless shelters. Whatever the institution may be, it is defined by a place where one may go to receive treatment, nourishment and attention when there may be no other opportunity afforded them.   Ã‚  Ã‚  Ã‚  Ã‚  The second of these groupings, encompasses all of the institutions that care for people who are inca... ...s schedules are all imposed by the officials that run the institution. The goals of the institution are fulfilled by these schedules and the tasks that are completed by the inmates, whether it may be a work service crew maintaining the grounds or by a janitorial staff maintaining the interior. Even though these institutions are similar in many instances to others, the do however have more contact with the outside world and rely on that contact to enhance its abilities to rehabilitate.   Ã‚  Ã‚  Ã‚  Ã‚  Total institutions are ones that will take away and identity and not ask questions. One where inmates are moved as managed group and looked down upon as secretive and bitter. Treating one like they are inferior and, guilty and weak is no way to re-establish someone’s life and return them to the world. Total institutions are incompatible with family , which is one of the strongest values that we need to maintain in this disintegrating world environment. We need to embrace family and do what we can to maintain our natural family values all throughout our travels and daily life. 1961 erving goffman asylums; essays on the social situation of mental patients and other inmates

Valuation: Apv vs Wacc

The three approaches value the entire firm but they differ around the way they treat tax shields. We will first review the rational and the underlying assumptions behind each approach. We will then use a numerical example to illustrate the mechanics behind the three approaches and show under which assumptions they yield the same results. Enterprise Valuation According to Modigliani and Miller, the value of a company’s economic assets must equal the value of the claims against those assets.Enterprise valuation models value the sum of the cash flows to all claim holders, including equity holders and debt holders and discount them to the appropriate cost of capital. The cash flow available to all claim holders is called the free cash flow (FCF) from operations and is defined below: FCF = EBIAT + Depreciation – Capital Expenditure – Increases in Working Capital EBIAT is the income the company earns after tax without regard to how the company is financed. Non-cash exp enses such as Depreciation are then added.Because we are valuing a going concern we also take into account the cash flow management will retain for new capital expenditures and possible increase in working capital. The remaining is in effect the cash available to owners and creditors. By definition free cash flow is independent from leverage (and is often referred as un-levered free cash flow). Therefore the value derived from the interest tax shield (interest on debt is tax deductible) has still to be incorporated in the enterprise valuation.This is where the three approaches WACC, APV and CCF differ: †¢ The WACC approach values the tax shield by adjusting the cost of capital †¢ The APV approach values the tax shield separately from the un-levered free cash flow †¢ The CCF approach values the tax shield by incorporating it in the cash flow The Weighted Average Cost of Capital Approach To determine the value of the enterprise, the free cash flows from operations have to be discounted to present value. According to Modigliani and Miller’s proposition number one without taxes or financial market mperfections the cost of capital does not depend on financing so the weighted average of the expected returns to debt and equity investors equals the opportunity cost of capital regardless of leverage: Rd x D/V + Re x E/V = Ra = Constant independent of D/V Ra = Opportunity cost of capital = Un-levered cost of equity = Return on assets = pre-tax WACC Rd = Cost of debt, Re = Cost of equity, D/V and E/V = Target levels of debt and equity using market values Fabrice Bienfait IFM Final Paper Page 2 of 8None of the components of the cost of capital are directly observable and therefore need to be approximated using various models and assumptions. The cost of equity is derived from the capital asset pricing model (CAPM) while the cost of debt can be estimated from the firm credit rating and default risk or from yields on publicly traded debt. However inter est on debt is tax deductible so if we were to discount free cash flows from operations using Ra we would not take into account the value of the tax shield.Therefore the after-tax weighted average cost of capital (WACC) is used instead. WACC includes an adjustment to the cost of debt by the marginal tax rate (Tm): WACC = Rd x (1-Tm) x D/V + Re x E/V (= Ra – Rd x Tm x D/V) WACC is less than the opportunity cost of capital Ra because the cost of debt is calculated after tax as Rd (1-Tm). Thus the tax advantages of debt financing are reflected in a lower discount rate. The WACC equals the opportunity cost of capital when there is no debt and declines with financial leverage because of increasing interest tax shields.The WACC increases again when the debt level becomes significant relative to the value of the firm reflecting the main costs associated with borrowing, the costs of bankruptcy. Figure 1: WACC as a Function of the Debt Ratio Rates of Return Re R WACC Rd Debt to Equity Discounting all future cash flows using a constant WACC assumes that the company manages its capital structure to a fixed debt to value ratio (D/V).Therefore the company’s WACC is the right discount rate only if the company’s debt ratio (D/V) is expected to remain reasonably close to constant. However if the company is expected to significantly change its capital structure (i. e. Fabrice Bienfait IFM Final Paper Page 3 of 8 constant level of debt, LBO, recapitalization), the WACC would have to be continuously adjusted which makes the approach more difficult to apply.The Adjusted Present Value Approach The APV approach values the cash flows associated with capital structure independently by separating the value of operations into two components: the value of the firm without debt and the benefits and the costs of borrowing: Value of the firm = Value of the un-levered firm + Present value of interest tax shields – Costs of financial distress The value of the un-l evered firm is obtained by discounting free cash flows at the return on assets (Ra).If the company manages its debt-to-value to a target level (D/V=constant) then the interest tax shield is as risky as the firm and should be discounted at Ra. In this case the APV approach yields the same results as the WACC approach but is computationally less efficient. However if the debt is assumed to be a fixed amount (D=constant) the interest tax shield is less risky than the firm but as risky as the debt itself and should be discounted at the cost of debt.In this case the APV approach is not only the only correct approach, it is also computationally very efficient if the tax saving are considered as perpetuity since: Present value of interest tax shields = (Tm x Rd x D) / Rd = Tm x D The main risk in using the APV approach is to ignore the costs of financial distress, especially at very high debt ratios, which leads to an overvaluation of the firm.The Capital Cash Flow Approach Capital cash fl ows are simply derived from free cash flows by adding interest tax shields: CCF = FCF + Interest tax shield = FCF + Tm x Rd x D With this approach capital cash flows are then discounted at the return on assets. This implicitly assumes that interest tax shields are as risky as the firm and are discounted at the return on assets. This is true when debt is a fixed proportion of value. Under this assumption the capital cash flow approach will generate the same results as the WACC approach.Furthermore if the debt is forecasted in levels instead of a debt-to-value ratio the CCF approach is easier to use because the tax shield are simple to calculate and to include in the CCF. If the forecasted debt levels imply a change in the debt-to-value ratio, the CCF retains his simplicity since the discount rate, the return on assets, is independent of the capital structure and can be used for every forecast period. Therefore the approach is easier to apply in transactions involving change in capita l structure such as a LBO or a restructuring.However in this case discounting the interest tax shields at Ra is a simplifying assumption since the risk of those cash flows is not anymore the same as the risk associate with the firm. Fabrice Bienfait IFM Final Paper Page 4 of 8 Numerical Example Table 1 shows the financial assumptions underlying our numerical example. The firm is valued over a period of 5 years during which EBIT is growing at 5% per annum and depreciation, capital expenditure and increase in working capital are constant. However the firm’s capital structure changes significantly through the repayment of a major portion of its debt.Table 1: Assumptions (in â‚ ¬) Risk Free Rate Market Risk Premium Tax Rate Asset Beta Debt Beta EBIT Depreciation Capex Increase in NWC Debt Year 1 5% 7% 40% 1. 2 0. 4 100,000 50,000 60,000 10,000 100,000 Year 2 5% 7% 40% 1. 2 0. 35 105,000 50,000 60,000 10,000 50,000 Year 3 5% 7% 40% 1. 2 0. 3 110,250 50,000 60,000 10,000 25,000 Year 4 5% 7% 40% 1. 2 0. 25 115,763 50,000 60,000 10,000 12,500 Year 5 5% 7% 40% 1. 2 0. 2 121,551 50,000 60,000 10,000 6,250 We will start valuing the firm using the WACC approach (see table 2).This is the less appropriated and most complex methodology given the forecasted changes in capital structure. Indeed the WACC needs to be recalculated every year and an iterative calculation has to be used since the value of the firm for each year is required to derive the percentage of debt and equity. The firm value in year N is the value of the remaining cash flows. For instance the value of the firm at the beginning of Year 3 is the value of the remaining cash flow in Year 3, 4 and 5 discounted using the WACC in year 3, 4 and 5.Table 2: WACC Valuation (in â‚ ¬) EBIT – Taxes on EBIT = EBIAT + Depreciation – Capex – Increase in NWC = FCF Percent Debt Cost of Debt After Tax Cost of Debt Percent Equity Return on Assets Cost of Equity WACC Discount Factor PV Firm Value Year 1 100,000 (40,000) 60,000 50,000 (60,000) (10,000) 40,000 61. 3% 7. 8% 4. 7% 38. 7% 13. 4% 22. 3% 11. 5% 0. 90 35,878 163,178 Year 2 105,000 (42,000) 63,000 50,000 (60,000) (10,000) 43,000 35. 2% 7. 5% 4. 5% 64. 8% 13. 4% 16. 6% 12. 4% 0. 80 34,329 141,923Year 3 110,250 (44,100) 66,150 50,000 (60,000) (10,000) 46,150 21. 5% 7. 1% 4. 3% 78. 5% 13. 4% 15. 1% 12. 8% 0. 71 32,666 116,451 Year 4 115,763 (46,305) 69,458 50,000 (60,000) (10,000) 49,458 14. 7% 6. 8% 4. 1% 85. 3% 13. 4% 14. 5% 13. 0% 0. 63 30,979 85,196 Year 5 121,551 (48,620) 72,930 50,000 (60,000) (10,000) 52,930 13. 3% 6. 4% 3. 8% 86. 7% 13. 4% 14. 5% 13. 1% 0. 55 29,325 46,817 Fabrice Bienfait IFM Final Paper Page 5 of 8 The cost of debt is calculated using CAPM: The cost of equity is calculated using the M&M proposition I:Rd = Rf + ? d x MRP Re = (Ra – D/V Rd) / (E/V) Using the WACC approach we find a value for the firm of â‚ ¬163,178. Next we use the APV approach to value the firm calculating separately the value of the un-levered firm and the value of the interest tax shield (Tm x Rd x D). The approach is straightforward in this case since we are given a forecast of the level of debt. We find that the APV approach yields the same firm value (â‚ ¬163,178) as the WACC approach when discounting interest tax shield at Ra.We also illustrate that using Rd would yield a higher valuation of the firm (this is not the correct discount rate in this case given that the debt is not constant). Table 3: APV Valuation (in â‚ ¬) FCF Return on Assets Discount Factor PV Value of Unlevered Firm Interest Tax Shield Return on Assets Ra Discount Factor PV Value of Interest Tax Shield @ Ra Interest Tax Shield Cost of Debt Rd Discount Factor PV Value of Interest Tax Shield @ Rd Value of Firm with ITS @ Ra Value of Firm with ITS @ Rd Year 1 40,000 13. 4% 0. 88 35,273 158,491 3,120 13. % 0. 88 2,751 4,686 3,120 7. 8% 0. 93 2,894 5,121 163,178 163,613 Year 2 43,000 13. 4% 0. 78 33,438 Year 3 46,150 13 . 4% 0. 69 31,647 Year 4 49,458 13. 4% 0. 60 29,907 Year 5 52,930 13. 4% 0. 53 28,225 1,490 13. 4% 0. 78 1,159 710 13. 4% 0. 69 487 338 13. 4% 0. 60 204 160 13. 4% 0. 53 85 1,490 7. 5% 0. 86 1,286 710 7. 1% 0. 81 572 338 6. 8% 0. 76 255 160 6. 4% 0. 71 114 Finally we use the CCF approach. The calculation clearly shows how the interest tax shields are incorporated in the cash flows and then discounted at Ra.The CCF approach is equivalent to the WACC approach. Furthermore the approach also produces the same value as the APV method with interest tax shields discounted at Ra. Fabrice Bienfait IFM Final Paper Page 6 of 8 Table 4: CCF Valuation (in â‚ ¬) EBIT – Taxes on EBIT = EBIAT + Depreciation – Capex – Increase in NWC + Interest tax Shield = CCF Return on Assets Discount Factor PV Firm Value Year 1 100,000 (40,000) 60,000 50,000 (60,000) (10,000) 3,120 43,120 13. 4% 0. 88 38,025 163,178 Year 2 105,000 (42,000) 63,000 50,000 (60,000) (10,000) 1,490 44,490 13. 4 % 0. 8 34,597 Year 3 110,250 (44,100) 66,150 50,000 (60,000) (10,000) 710 46,860 13. 4% 0. 69 32,134 Year 4 115,763 (46,305) 69,458 50,000 (60,000) (10,000) 338 49,795 13. 4% 0. 60 30,112 Year 5 121,551 (48,620) 72,930 50,000 (60,000) (10,000) 160 53,090 13. 4% 0. 53 28,311 Conclusions The three enterprise valuation techniques considered in this paper are different in the way they treat interest tax shields. However we have seen that the WACC approach and the CCF approach are identical and that under certain assumptions the APV approach also yields the same valuation.The WACC approach is easy to use and efficient when the assumption that capital structure will not change in the future can be made (D/V= constant). If debt level is forecasted to remain constant in absolute term (D=constant), the APV approach should be used discounting the interest tax shield at the cost of debt. Finally the CCF approach is the appropriate and most efficient approach when forecasted debt levels imply a change in capital structure. In this case it is also equivalent to the APV approach discounting the interest tax shield at the return on assets. Fabrice Bienfait IFM Final Paper