Thursday, August 27, 2020


Planning AND PREPARING TO IMPLEMENT AN EVALUATION - Research Paper Example Hence, there is have to assess the utilization of Vermont Immunization Registry and join it into a family clinical focus. Method of reasoning Center for Disease Control contends that the ongoing increment in vaccination of youngsters has prompted the expansion in maladies like Polio, Measles, and Pneumonia, in light of the fact that there is nothing but bad database that can record all the immunizations that a kid has been given. Thus, CDC concluded that Vermont Immunization Registry be assessed to decide its qualities and shortcomings. Vaccination has been recognized as a savvy and gainful methods through which new diseases are eradiated or diminished. This venture involves the formation of an automated framework through which vaccination records can be securely kept and kept up. It is consequently that the Vermont Immunization Registry (IMR) was actualized into the Family Medical Center. The library was to advance quality and productive treatment for the patients and to guarantee t hat all inoculations are done on schedule and legitimate records kept. As indicated by Centers for Disease Control and Prevention (2004) vaccination has prevailing with regards to killing sicknesses, for example, smallpox, measles, poliomyelitis, and rubella around the world (Meri, Jordens, and Jarva, 2008). An automated framework for keeping up records of vaccination is required. The framework should follow the inoculation dates, printed school, and parent reports. It is fundamental in directing and timing the proper time for organization of antibodies. Medicinal services suppliers for as long as two years have dissipated the clinical record papers. Guardians, in this way, end up searching for their inoculation records. This has helped in sparing numerous by guaranteeing that the correct immunization is controlled to the youngsters (Maciosek et al., 2006). Proclamation of the Problem Most of the guardians battle with inoculation strategies and dates. The exploration gives methods o f preparing guardians on the best way to get to their inoculation information through the PC whenever. The vast majority of the medical caretakers, specialists, and relatives are additionally confronting a test in using this program subsequently the requirement for assessment Purpose of Evaluation It is significant for wellbeing administrations, specialists, and patients to get to their immunization data whenever. This report shows the effectiveness and favorable circumstances of getting to this data. This examination will assess the viability of Solution Criteria To have the option to get to immunization information at wherever everywhere throughout the world Proposed Task Statement The issue can be fathomed by introducing a PC direct on the most proficient method to effectively enter the information. Designation of assets by the administration additionally should be modified. Partners Primary CDC-they are the reference point and guarantee they support completely the assessment pro gram. They are likewise answerable for the assessment program. Monetary Committee-The chief of money must guarantee assignment of assets for the assessment program for all the emergency clinics inside US. Optional Stakeholders Supervisors-Supervisors will be accountable for guaranteeing that there is legitimate preparing of the clinical staff and guarantee full interest of each one of those included. Volunteers Staff and Parents Volunteer’s staff and guardians will be liable for participating in the preparation program to guarantee there is full assessment of the Vermont Immunization Registry for what's to come. Tertiary Stakeholders Investors-this will incorporate the private and open financial specialists who are targeting providing the PC machines and overhaul programs. Key Evaluation Questions The assessment of this preparation program will mean to respond to the accompanying inquiries: 1. What do the volunteers, staff, chiefs, and upper level administration consider the current preparing program? 2. What are those that participate in the preparation learning because of

Saturday, August 22, 2020

The Resource Based View Analysis

The Resource Based View Analysis This report surveys observational investigations of the asset based view (RBV) and analyzes the advantages and restrictions of RBV as the best system course in the building up an organizations technique. By having a reasonable and centered key plan, it assembles an association towards accomplishing the longing position. Through breaking down its inner and outside condition utilizing the asset based view and Porters industry investigation separately, firm would have the option to accomplish supportable upper hand. The way in to an asset based view is through an understanding the connections between assets, abilities, upper hand, and monetary lease. The RBV distinguished qualities of preferred position making assets, for example, esteem, irregularity, imitability and Organization (Clulow et al, 2007; Barney, 1991). Interestingly, doormen industry investigation centers around lower cost and item separation in accomplishing maintainable upper hand. Regardless of the clashing issues, the asset based view has inspected issues and new bearings that will assist with explaining the worth and limits of the RBV by incorporating with Porters industry examination. Doormen system and the RBV of the firm fundamentally apparent the essential job of procedure as accomplishing a special upper hand (Hax A. C. also, Wilde II D. L., 2003). In this way, the two structures can supplement each other as they underscore in various elements of methodology (Hax A. C. furthermore, Wilde II D. L., 2003). (200 Words) Presentation The asset based perspective on the firm (RBV) is one of the contemporary vital administration ideas to build up an organizations system. The essential target of this report is to acknowledge or dismiss the dispute that asset based view investigation (RBV) has a solid relationship with firms execution in accomplishing a supportable upper hand. This report surveys the writing on upper hand and firm execution. It is isolated into five primary parts. The primary area sums up the writing on upper hand from two perspectives, the Resource Based View (RBV) and Porters Industry Analysis (IA). The subsequent area talks about on the qualities of the RBV in surveys with the writing on key expectation, edge assets, capacities, upper hand, center capabilities, economical upper hand and VRIO. The third segment shows Porters IA in surveys with cost, separation, and market center. The fourth segment ponders the reactions of the RBV and delineates how analysts have or have not conquered a portion of these limits. The fifth area is a survey of a combination of the RBV and Porters IA in the proposed model of center skills, upper hand and firm execution (Chabert J. M., 1998) (185 Words) The Resource Based View of the Firm Thompson et Al (2010) call attention to that RBVÂ [1]Â uses a companys VRIOÂ [2]Â strengths and serious abilities to convey an incentive to clients in way that adversaries think that its hard to coordinate. The RBV underlines the inner abilities of the association in figuring procedure to accomplish a SCAÂ [3]Â in its business sectors and ventures (Henry, 2008). It holds that organizations can win economical anomalous returns if and just they have predominant assets and those assets are secured by some type of detaching component forestalling their dispersion all through industry (Value Based, 2011). The Resourced Based View Assumptions The RBV of firms depends on two fundamental suspicions included asset assorted variety and asset idleness (Barney, 1991; Mata et al, 1995). As indicated by Mata et al. (1995), asset decent variety concerns whether various firms have groups of various assets and capacities; while asset idleness alludes to an asset is hard to get by contenders since it is inelastic in flexibly or exorbitant. These two presumptions can be utilized to decide if an association can make a SCA by giving a structure to deciding if a procedure or innovation gives a genuine favorable position over the commercial center (Brown, 2007). Therefore, the RBV will in general spotlight on the kinds of assets and the qualities of these assets that make them deliberately significant, the dynamic ability point of view which centers around how these assets need to change after some time to keep up their market importance (Powell, 2007). The RBV as the best procedure course in building up an organizations methodology Today administrators are moving assembling seaward to bring down expenses of work, supporting product offerings to catch worldwide scale economies, founding quality circles and without a moment to spare creation, and embracing Japanese human asset rehearses. It was accepted that the utilization of ideas like key fit (among assets and openings), conventional systems (minimal effort, separation and market center) and the methodology chain of command (objectives, methodologies, and strategies) have frequently helped the procedure of CAÂ [4]Â (Hamel and Prahalad 1989; Andrews, 1971). Most organizations have moved toward contender examination that centers around the current assets like human, specialized and money related of present contenders. While, the main danger those organizations mindful are those with the assets to disintegrate edges and piece of the overall industry later on. There are scarcely any Japanese organizations had RBV, fabricating volume or specialized fitness of U.S . what's more, European pioneers. For example, Canons initially stopping steps in reprographics business looked sadly little contrasted and the $4 billion Xerox powerhouse (Hamel and Prahalad 1989). Vital Intent Vital aim imagines an ideal initiative position and sets up the basis the association will use to graph its encouraging where Komatsu set out to circle Caterpillar. The idea underlines a functioning administration process that included concentrating the associations consideration on the embodiment of winning, spurring individuals by conveying the estimation of the objective, leaving spaces for individual and group commitments, continuing enthusiasms by giving new operational definitions as conditions change and utilizing expectation reliably to direct asset assignments (Hamel and Prahalad, 1989). Vital purpose catches the pith of winning. For instance, the Apollo program where handling a man on the moon in front of the Soviets was as seriously engaged as Komatsus drive against Caterpillar. It is steady after some time, so as to challenge worldwide authority; one of the most basic errands is to extend the associations capacity to focus. It gives consistency to transient activity, which leaving a space for reevaluation as new open doors rise (Hamel and Prahalad, 1989). A firm is said to have a CA when the firm can deliver all the more financially and higher consumer loyalty, and in this way appreciate better execution relative than its rivals (Barney, 1991; Peteraf, 1993). Though, Porter (1985) characterized CA as the capacity to acquire rates of profitability reliably over the normal for the business by concentrating on the companys outside serious condition and how they position themselves against that structure (Halawi L. An., Aronson J. E, and McCarthy R. V., 2005). Interestingly, the RBV of system focuses not to industry structure however to the remarkable bunch of RCÂ [5]Â that every association has (Henry, 2008; Collis and Montgomery 1995; Stalk et al, 1992). Firms Outperform and Maintain Competitive Advantage The Benefits of RBV RBV is best applied for the sort of evaluation of an organizations existing asset portfolio talked about by Barney (2001) or while misusing the organizations load of assets to move into new item advertises, as in the convention of Penrose (1959) (Sheehan and Foss, 2007). There are two crucial purposes behind creation the RC of the firm the establishment for its methodology. To start with, it gives the fundamental course to an organizations system and second, they are the essential wellspring of benefit for the firm. The RBV sees the worth got from the board aptitudes, data abilities, and managerial procedures can likewise be viewed as rare variables ready to create financial rents (Sheehan and Foss, 2007). The idea of a unique capacity was created to clarify why a few firms have had the option to outflank their rivals over extensive stretches of time and notwithstanding critical changes in the commercial center (Teece et al, 1997). Firms as heap of Resources Edge assets are characterized as the novel mix of benefits and abilities inside a firm that empower firms to create and execute procedures to meet clients least necessities and to improve its general execution (Scholes J. G., and Whittington, R., 2008). It very well may be named either unmistakable or impalpable assets. Substantial assets allude to the physical resources that a firm has and can be portrayed as physical assets. So as to include esteem, these physical assets must be skilled to react to commercial center changes. Impalpable assets include human and authoritative capitals. It might be implanted in schedules and practices that include created after some time inside the association (Henry, 2008). It incorporates information based economy, the unsaid information and master aptitudes of numerous workers which are hard for contenders to mirror (Henry, 2008). Nonaka and Takeuchi (1995) separate between information that can be viewed as unsaid and unequivocal. An express information or thinking about is appeared through correspondence that can be promptly moved in this manner it requires some type of security like copyright. Though, implied information or skill can't be classified and it is uncovered through its application and gained through practices, for example, convictions and viewpoints (Henry, 2008). RBV and Organizational learning The RBV stresses the criticalness of creating and upgrading those assets that are unmistakable, specifically, particular capacities (Olavarrieta and Ellinger, 1997). Ten

Friday, August 21, 2020

Writing Persuasive Essay Topics That Convert

Writing Persuasive Essay Topics That ConvertConviction is the crux of all persuasion. The aim of persuasive essay topics is to persuade the reader, as well as the audience, that you are a good, moral person. This leads to their acceptance of your position, or rejection of it.An unchangeable conviction can be the main reason for the acceptance of a persuasive essay topic. Conviction is exactly what you need if you want to convince others that what you are proposing is right. So, what is it?A conviction is an opinion, belief, attitude, or action that you hold about a good or bad cause. You hold it despite contradictory evidence and even contrary personal feelings about it. Conviction is not only about matters of the heart.Conviction is a subjective term. It relates to the quality of feeling, mood, emotion, or perspective about a person, idea, or situation. Conviction may involve such factors as personal values, political views, economic standing, common sense, personal orientation, or habit.As you might expect, you do not just 'have' a conviction, you do not hold it without the backing of your own convictions. Instead, it is the result of evaluating and weighing a number of different elements. When I use the term 'conviction' above, I am using it in a relative way, instead of identifying it as the same thing as acceptance.To become a persuasive writer, you must recognize and meet your own psychological needs, and those of the audience. In order to write persuasively, you must understand these needs and motivations. At the same time, you must also understand your reader's needs. Being well-versed in these two key areas will give you a clear advantage in convincing anyone to adopt your point of view.There are many methods of writing persuasive essay topics. One of the more conventional ones is to go back to the basics: to how you think. This is true because most people believe or accept what they hear or read simply because it sounds reasonable. Understanding the p sychology of people is critical to being a better persuasive writer.I have found the best ideas for criminal justice persuasion techniques from watching different talk shows and even reading some books. I don't think it matters if you watch television or read a book - you should always keep an open mind and explore as many different ideas as possible. If you take this approach, you will be a better persuasive essay topic writer.

Monday, May 25, 2020

Baking Ingredient Substitutions Table

Do you need to replace one ingredient with another in a recipe? Apply a bit of cooking chemistry to save your project.  This is a table of ingredient substitutions that you can make when baking. Changing the ingredient may affect the taste and texture of your recipe slightly, but this list should help prevent major differences. ammonium bicarbonate - 3/4 teaspoon1 tsp baking soda baking powder (single-acting) - 1 teaspoon1/4 teaspoon baking soda plus 1/2 teaspoon cream of tartar plus 1/4 teaspoon cornstarch baking powder (double-acting) - 1 teaspoon1/4 teaspoon baking soda plus 1/2 teaspoon cream of tartar plus 1/4 teaspoon cornstarch. Use 1 tsp for every 1 cup of flour. baking soda - 1/2 teaspoon2 teaspoons double-acting baking powder (replace the acidic liquid in recipe with non-acidic liquid) baking soda - 1/2 teaspoon1/2 teaspoon potassium bicarbonate buttermilk - 1 cup (240 ml)1 tablespoon lemon juice or vinegar plus enough milk to make 1 cup (240 ml) (let mixture stand 5-10 minutes)more buttermilk recipes cake flour - 1 cup (130 grams)3/4 cup (105 grams) all purpose flour plus 2 tablespoons (30 grams) cornstarch cake flour - 1/3 cup1/3 cup all-purpose flour less 1/2 teaspoon chocolate (bittersweet or semi-sweet) - 1 ounce (30 grams)1/2 ounce (15 grams) unsweetened chocolate plus 1 tablespoon (15 grams) granulated sugar chocolate (unsweetened) - 1 ounce (30 grams)3 tablespoons (20 grams) natural cocoa powder (not Dutch-processed) plus 1 tablespoon (14 grams) unsalted butter, shortening, or vegetable oil cocoa powder, Dutch-Processed - 3 tablespoons (20 grams)1 ounce (30 grams) unsweetened chocolate plus 1/8 teaspoon baking soda. Also reduce fat in recipe by 1 tablespoon. cocoa powder, natural unsweetened - 1 ounce (30 grams) unsweetened chocolate. Also reduce fat in recipe by 1 tablespoon. coffee, strong - 1/4 cup (60 ml)2 tablespoons (10 grams) instant coffee in 3 tablespoons hot water corn syrup, dark - 1 cup (240 ml)3/4 cup (180 ml) light corn syrup plus 1/4 cup (60 ml) light molasses corn syrup, light - 1 cup (240 ml)1 cup (200 grams) granulated white sugar (increase the liquid in the recipe by 1/4 cup or 60 ml) cornstarch (for thickening) - 1 tablespoon (15 grams)2 tablespoons (25 grams) all purpose flour cream of tartar - 1/2 teaspoon1/2 teaspoon white vinegar or lemon juice cream - half-and-half - 1 cup (240 ml)7/8 cup (210 ml) whole milk plus 2 tablespoons (25 grams) melted unsalted butter cream, heavy (not for whipping) - 1 cup (240 ml)2/3 cup (160 ml) whole milk plus 1/3 cup (75 grams) melted unsalted butter flour, self-rising - 1 cup (140 grams)1 cup (140 grams) all-purpose flour plus 1-1/2 teaspoons baking powder plus 1/4 teaspoon salt flour, whole wheat - 1 cup (150 grams)7/8 cup (120 grams) all-purpose flour plus 2 tablespoon (6 grams) wheat germ honey - 1 cup (240 ml)3/4 cup (180 ml) light or dark corn syrup plus 1/2 cup (100 grams) granulated sugar lard - 1/2 cup (113 grams)1/2 cup (113 grams) solid vegetable shortening lard - 1/2 cup (113 grams)1/2 cup (113 grams) plus 1 tablespoon (14 grams) unsalted butter marshmallow cream - 2.5 ounces8 large marshmallows or 1 cup miniature marshmallows milk (sweetened condensed) - 14 ounce can (396 grams)blend 1 cup instant nonfat dry milk plus 2/3 cup (135 grams) granulated sugar plus 3 tablespoons (35 grams) melted unsalted butter plus 1/2 cup (120 ml) boiling water milk (evaporated whole) - 1 cup (240 ml)1 cup (240 ml) half half milk (whole) - 1 cup (240 ml)1 cup (240 ml) skim milk plus 2 tablespoons (25 grams) melted butter or margarine molasses - 1 cup (240 ml)1 cup (240 ml) dark corn syrup sour cream - 1 cup (225 grams or 8 ounces)1 cup plain yogurt sour cream - 1 cup (225 grams or 8 ounces)1 tablespoon lemon juice or vinegar plus whole milk to fill 1 cup (240 ml) tapioca, instant or quick-cooking - 1 tablespoon (12 grams)1-1/2 tablespoons (20 grams) flour vinegar - 1/4 cup (60 ml)1/3 cup (80 ml) freshly squeezed lemon juice yogurt, plain - 1 cup (225 g)1 cup (225) sour cream

Thursday, May 14, 2020

The Risks In Finance And The Basel Guidelines Finance Essay - Free Essay Example

Sample details Pages: 11 Words: 3377 Downloads: 8 Date added: 2017/06/26 Category Finance Essay Type Research paper Did you like this example? What is finance? Finance is all about the knowledge of funds management. Simply speaking, to finance something is the same as to fund something. The funds can be in form of loans, bonds, owned capital, shares, etc (anything that can generate funds legally). So in finance, we learn anything that directly or indirectly related to funds management. Whether it is interest rate, time value of money, the calculation of risk, how to measure movement of share price, etc. All of these are related to finance. Direct Finance. Direct finance comprises of every direct transaction on the financial market, transaction with no middleman or agent. For example: Shareholders buy share to fund a company or buy government bonds to finance the government. Another example of direct finance is the internal capital market of multinational organizations. Semi direct Finance: The bank acts like an agent or intermediate party. In return, they receive fee/commission for the transaction. Banks dont take position in the transaction; they strictly serve as a middleman and therefore are free from the risks that the transaction bears. Don’t waste time! Our writers will create an original "The Risks In Finance And The Basel Guidelines Finance Essay" essay for you Create order Indirect Finance In indirect finance, which most people referred to as banking, banks take the direction/initiatives of all of activities. For example they receive money from households and lend it to organizations. Its not the household decision anymore how to use the money (for financing purpose); therefore we call it indirect. For example: Households save their deposit into bank in return of interest and the bank decide to loan the money to others (person, organization, company, etc) at higher interest rate (the difference becomes the banks profit). That way the bank will make a profit. In other case, the bank can choose to enter the stock market or buying bonds of its own choosing, etc in order to generate profit. This is the basic of banking. Many different kinds of risks exposed to the bank. Banks are exposed to many risks such as: Liquidity risk. Liquidity risk means that a given asset cant be sold quickly enough in the market to avoid a loss. This is the case when illiquid assets have to be sold in a short term. This is similar with cash flow insolvency. For example: Properties (hard to sell without incurring a loss at a short period of time). Liquidity risk can also mean that a bank isnt capable of paying her debts at a short term (similar to cash flow insolvency). This is different with balance sheet insolvency (negative net assets, therefore unable to pay). A bank maybe balance sheet solvent but still exposed to liquidity risk if it holds lots of illiquid assets. For example: Northern Rock (a perfect example of bank run). A bank run happens when large number of bank customers withdraw their deposits at the same period of time because of the fear the bank is unable to pay. In Northern Rock case, when the global demand for securitised mortgages droppe d in August 2007, Northern Rock became unable to pay back the loans from the money market with money which should have been raised from securitisation. On 14 September 2007, the bank obtained a liquidity support facility from the Bank of England, to return the funds it was unable to get from the money market. The banks assets were enough to cover its liabilities, but it suffered from liquidity problem. Because of this news, Northern Rock suffered a bank run and needed government intervention to guarantee its customers money. Later on, Northern Rock is nationalized. Credit risk/ counterparty risk/ default risk. It can be defined as any loss in the market value due to different reasons. It means as an investors risk of loss arising from a borrower who fails to make payments as promised. Or, it can also mean the loss because of the difference in firm value/ company value because the bank credit rating (one of the example) collapsed due to something happening within the bank (borr ower fails to pay up, bad management, etc)/ indirectly related to the bank. Market risk. Market risk is the risk that the value of a portfolio, going to decrease because of the change in value of the market risk factors. In case this happens, the bank will occur a loss. The four main factors are stock prices, interest rates, foreign exchange rates, and commodity prices. Therere 4 different kinds of market risk, such as: Equity risk, the risk that stock prices will change. Foreign exchange rate risk, the risk that foreign exchange rates will change. Interest rate risk, the risk that interest rates will change. Commodity prices, the risk that commodity prices will change. Operational risk. Operational risk is the failure of the people of the procedures of the systems. For example the mistyped case (fat finger) or simply known as typo. Example: Buying shares for $500, but instead mistypes it once so it becomes $5000. One of the biggest examples of operatio nal risk is Barings Bank, collapsed in 1995 after its employees, Nick Leeson, lost $1.3 billion speculating primarily on futures contracts and subsequently lost it all. Leeson was able to operate with no supervision from head office because of the banks poor internal auditing and risk management practices. Another type of operational risk is legal risk. In order to operate, the bank must operate based on the government rules and regulation. This is how the legal risk arises. It is a risk that arises when the bank is not in compliance with government regulation and therefore hinders it to enter a transaction or to operate. It includes the time and money wasted for the legal proceedings (or as a result of it, such as opportunity lost, etc) that the bank must endure in case it is accused of illegal conduct (or vice versa). It is one of the greatest challenges for managers to make their bank in compliance with government regulation. It is very difficult to predict the size of legal r isk. Its also very bad for the banks reputation. Settlement risk Settlement risk can be described as the risk that a counterparty fails to deliver a security or its value in cash per agreement when the security was traded after the other counterparty have already delivered security or cash value per the trade agreement. For example: Foreign exchange settlement risk or simply known as Herstatt risk. On 26th June 1974, some banks had undertaken foreign exchange transactions with Herstatt and had already paid Deutsche Mark to the bank during the day, believing they would receive US dollars later the same day in the US from Herstatts US nostro. But at the end of banking day, Herstatts topped all dollar payments to counterparties. As a result, the banks license was withdrawn because of a shortage of income and capital to make up for liabilities that were due. Reputational risk. Reputational risk is a type of risk related to the reliability of company. It may result in lost revenue or damage to shareholder value, ignoring to the fact whether the bank is actually guilty or not. Its about the image of the bank. Therefore, its related to many risks. If the bank is unable to settle its transaction (transaction risk) or have bad operation (operation risk) or making a big loss in financial market because of market risk, they all can damage the banks reputation, etc. Any kind of actions, wrongdoings, news that can have negative impact to the bank (whether its directly or indirectly (such as counterparties or investors bad reputation) related to the bank) can be considered as reputational risk. Therefore, reputational risk is closely related to the other risk. Other risks. There are many other risks that are exposed to the bank but havent been described in the lecture yet, such as systemic risk (risk of the collapse of entire financial system/entire market. Example: Lehman brothers (almost happening)), profit risk, and volatility risk (the risk that ari ses because the likelihood of fluctuations in the exchange rate of currencies). Saving mechanisms. Lender of last resort. Lender of last resort, as the name speaks for itself, is an organization which is willing to lend money to a bank when theres no alternative left. Usually banks want to avoid doing this, because it is damaging to the banks reputation and shows that the bank is in some sort of trouble (like what happen to Northern Rock, once they asked the Bank of England to bail them out, they suffered a bank rush). Most of the time, lender of last resort is the central bank of the country. Deposit insurance system. Every bank has to put a small percentage/portion of every deposit that its customers made in an insurance pool that is used to back up the customers deposit. This is useful when a bank has some liquidity problems, customers dont need to be a scared to lose all their money. But put in mind that the portion is relatively small. Maybe it can cover small banks, but not the big one. Capital adequacy. Banks are obliged to have minimum capital requirements to prevent them from failing. The more capital they have, the safer they are to meet their financial demands and obligations (because capital is their own money and they can use it for their own needs and demands). Bad banks. Bad bank is a term for financial institution that are created to keep the nonperforming assets owned by a state guaranteed bank. Bad banks are legal institutions that are used to isolate toxic products in order to save the healthy part of the bank. It is sometimes used to save the majority of the banks. Intentionally lose the bank in order to keep the others safe and afloat. Government bailout. Sometimes the government put themselves in, bailing the bank, financial institution, etc, in order to save the financial market (or in bigger case, the nations economy itself) from crisis and prevent it from systemic risk / collapsing. Capital Adequacy (Lecture 2). Basel I: Basel I is discussions by central bankers around the world in the year 1988 and resulted in a set of guideliness about minimal capital requirements for banks in case they want to lend their money . It was used by the G-10 countries before a more advanced guideliness made (notably Basel II). How Basel I works? Basel I implies that every time a bank makes a loan to other institution (then in balance sheet of the bank it is put on debit side by nature), the bank needs to have certain amount of equity on its credit side as a backup in case the loan gone bad. Example: If you give loan for $100 and put $100 on your asset side (left side of balance sheet), youll need to have 8 (as example) as equity on the liability side (right side of balance sheet. This 8 is different for different type of assets. Lending to government is much safer than lending money to corporation. How to differentiate it? We use risk weight. Example: If the lender is government, we use risk weight of 0% ( we assume the government is perfectly safe). For bank we use a risk weight of 20%. For mortgage loan we use a risk weight of 50%. For company, which is the riskiest of them all, we use full weight (100%) to calculate the equity needed to backup the loan. Bottom line is the bank differ the equity needed to cover up the loan based on whos borrowing it (government being the safest and therefore have 0% risk weight, company being the most risky and therefore have 100% risk weight. And therefore we have the risk weighted assets of banks. Calculated as the different types of assets that bank has, multiply by the risk rate, then multiply by the predetermined equity that needs to be keep (in this case $8 for every $100 of loan). Example: Loan of $100 to government (asset side), then, equity needed = $8 X 0% = $0 (liability side). Loan of $100 to company, then, equity needed = $8 X 100% = $8 and so on. Amendment 1996: Capital has to be set aside for Market Risk. In Basel I there was no rule for modeling. The only thing we did was classifying. Bank need to look this amendment and make a benchmark model for its own use. Translate it into percentage of returns. Create a histogram and cut off the tail (1% probability mass). The position of cut off tail is the value at risk (VAR). It determines which position is accepted and which one is below standard and therefore imposed to extra charge. It is a quantile of distribution. It is the base on which the capital set aside for market risk is calculated. Now bank has to model the changes in the value of the portfolio of the company/ borrower. If a company exceeds this VAR (loss is bigger than VAR) by 1%, then the company performs well. If it exceeds 1%, then company will receive an extra capital charge. Usually the multiplier is 3 (can be more). Bank has to present this model to the regulator. Basel II Basel II is an improved second version of Basel I. Basel II had undergone many proposal and updates as well as received much response. Quantitative impact studies ƒ   banks implement Basel II on a trial basis to check if it has an impact on their capital etc. There are 3 main point need to be stressed out on Basel II, such as: First pillar: Capital adequacy. Basel II still keeps the 1996 amendment with respect to market risk. Banks still have to keep capital aside for credit risk. Credit risk can be calculated in 3 ways component can be calculated in three different ways, such standardized approach, foundation IRB and advanced IRB. In standardized approach, risk weights are different for each individual borrower in each group. So now there is a credit rating (which is generated by external parties) which is different for each category. Lending to blue-chip company is absolutely safer than lending money to small unknown company. This is what Basel I lacks . The borrower is regrouped 2 times, therefore it is more accurate (we simply multiply the equity needed one more time based on the borrower rating which holds different rate of multiplier). Alternatively, bank can use Internal Rating-Based approach (banks are allowed to model the default probabilities of their own customers) was proposed. Second pillar: supervisory review. All banks have to model their economic capital and regulatory capital (the capital that the bank has to maintain in compliance with the law). Moreover, banks operate on the economic capital (their working condition), which (usually) is above the legal minimum. It gives the regulators much improved instruments compared to Basel I and framework to deal with the risk that a bank may face such as reputational risk, systemic risk, etc. It gives bank the ability to examine its own risk management system. Third pillar: market discipline, which means accounting disclosure. The idea is that we can safeguard banks if we let them disclose the riskiness of their positions. Bank needs to have a system in place to at least produce these numbers. By opening up their position, banks will be more thoughtful and careful in their actions. And regulator can keep track of them as well. 2.1. Financial market products. There are a lot of financial products; all has its own characteristic and classification. Examples of financial products are: Shares equity: : Certificates that represent that an investor has already invested in some form of investments (in the form of a company, etc) and therefore he/ she owns a portion of that investment and any underlying asset beneath it and entitled to claim any gains from that investment. Bonds: Certificates that represent money a government or corporation has borrowed from other entities. T-bills (Treasury Bills): Short term debt obligation guaranteed by the US Government with maturity of less than a year. Options: A contract that provides the buyer with the right to buy or to sell an underlying asset at a specific price during a specified time period. Futures: Contract between 2 parties to buy/ sell a standardized asset at specified future date with the price agreed today. Forwards: Same as futures with the exception that they are not exc hange-traded or standardized. Swaps: Agreement between parties to swap the benefits of their financial instrument. For example: In bonds, both parties agree to swap the coupon payments related with the bonds. Both coupon payments can have different payment timing and value. Commodities: Sold in commodity market where primary/ raw products are exchanged. Can be in form of derivatives trading or direct physical trading. Commercial paper: Corporations short term debt instrument (1 to 270 days), usually used for  the  funding of accounts receivable,  inventories or to  meet short-term liabilities. Strips (Separate Trading of Registered Interest and Principal Securities), as the name speaks for itself, strips is a seperate trading for the interest / principal portion for the securities. It is cut into different pieces which are sold separately. By this, strips can also give buyer a tax advantage (typical in Belgium). Medium term notes: A debt note that matures in 5 -10 years (usually). Foreign Exchange (Forex): Over the counter financial market for trading currencies. Forex have been known to use spot transaction regularly. In contrast with derivatives, the buyer buy right now, pay within 2-3 days time and you get instruments at that same period as well. Life insurance: Contract between the policy owner and insurer that the insurer will pay a sum of money to the owner in case of events (death, critical illness, etc). In relation to finance market, life insurance policy is so often combined with investment (get insured and have investment, managed by the insurer), with the exception of pure protection life insurance. Asset Backed Securities: A security whose value and payments determined by a specifically designed pool of underlying asset, usually illiquid assets. Doing so will allowed the asset to be sold into the financial market, therefore comes the term securitization (making securities from illiquid asset). Mortgage Backed Secu rities: The same as Asset Backed Securities, instead the cash flows now comes mortgage loans (underlying asset). Convertible bonds: A bond that can be converted to common stock shares at equal value by the issuing company. Repo (repurchase agreement): Agreement that lets the seller to buy back the securities from the buyer at a later date (usually a short one). 70% of repos mature in less than 7 days. Interbank loan: Direct loans between two banks to cover up their financial needs using predetermined interest rates (LIBOR Rates, etc). Credit Default Swap: Swap contract between buyer and seller with the buyer pays a series of payments to sell as an exchange of payoff in case a credit event happens to a credit instrument that currently being swapped. As the name speaks for itself, it swaps the default risk from one party to another in turns of payment. Mutual funds: Collective investment funds, gathered from numerous amount of people, institution and company and is mana ged by a professional fund manager, usually a bank, insurance company or investment company (and therefore the manager collects commission from it). The fund manager then can decide where to invest the fund in the financial market and therefore forming a portfolio. They also have different taxing implication than others. These financial products can be classified into many types (highlighted with different color), such as: Derivative (green color) is a financial tool, an agreement between 2 parties to transact something else (underlying asset). Therefore, derivatives value is determined by its underlying asset. Example: Option to buy AA shares for $20. If share AA goes up to $30, the option is worth $10. If share AA goes $20 or below, the option worth nothing. Thats option it is dependent to the value of its underlying asset. Its a type of linear products that gives you win-lose situation when bought and have a timeframe in it for it to do some effect (to gain or to lose). Money market (yellow color) and Capital Market (blue color). The main difference between money market and capital market is in the time to maturity / time frame. Money market being relatively short term (less than 1 year) and capital market being relatively long term (more than 1 year). The rest of the products such as commodities and Forex are slightly different and therefore have their own categories. Thats all about the summary of first and second lecture of CAF. We hope you find it useful.

Wednesday, May 6, 2020

Home Assignment on Whole Foods Market - 3430 Words

Home assignment on Whole Foods Market 1. Related products Whole Foods Market only sells products that meet its self-created quality standards for being natural, which the store defines as: minimally processed foods that are free of hydrogenated fats as well as artificial flavors, colors, sweeteners, preservatives and products that are listed on their online Unacceptable Food Ingredients list. Whole Foods Market has also announced that it does not intend to sell meat or milk from cloned animals or their offspring, even though the U.S. Food and Drug Administration (FDA) has ruled them safe to eat. The company also sells many USDA-certified organic foods and products that aim to be environmentally friendly and ecologically†¦show more content†¦They support what their consumers do. And then there is the political segment, which is the â€Å"†¦arena in which organizations and interest groups compete for attention, resources, and a voice in overseeing the body of laws and regulations guiding the interactions among nations† (H itt). This segment is very important to Whole Foods, as well as any other organic food retailer. It is important because all products have to pass FDA approval, if not then there goes waste of time and money. Whole Foods Market has been able to understand this segment, and by doing so has created their own policies when processing foods. This action not only adds creditability, but also assures that government regulations will be followed thoroughly. 3. In which industry does WFM compete and what are the dominant characteristics of this industry? The organic and natural food industry is a relatively large and popular one that continues to grow with every passing day. In the organic industry the â€Å"†¦range of competitors include chain and independent supermarkets; mass merchandisers and super centers; convenience stores; wholesale clubs; restaurants and fast food chains; natural food stores; local farmers’ markets, and internet grocers† (Lytel). Global growth of organic agriculture has gained much popularity, which continues to accumulate attention. The reason for that is simple, it is because this industry†¦ â€Å"†¦can be a profitable, sustainable business for those producers interested inShow MoreRelatedComparing Whole Foods and Trader Joe’s1345 Words   |  6 PagesComparing Whole Foods and Trader Joe’s For our case assignment, we decided to compare two grocery stores popular in the NYC area: Whole Foods and Trader Joe’s. 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This was caused by the introduction of the ‘rising crust’ technology, through which frozen pizza got almost the quality of the pizza offered in restaurants. This had a declining effect on the other three segments of the pizza branch (dine-in, take away and home delivery), because now having almost the same quality, frozenRead MoreMcdonald s, Burger King And Wendy s I Started1302 Words   |  6 PagesIndividual Assignment #1 Comparing McDonald’s, Burger King and Wendy’s I started to see some interesting aspects to their marketing strategies. First by focusing on their main economic characteristics, secondly looking more in depth at the competition and driving forces, and lastly their key success factors. 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Tuesday, May 5, 2020

International Law for Contract for International Sale of Good

Question: Discuss about theInternational Law for Contract for International Sale of Good. Answer: The United Nation Convention on Contract for International Sale of Goods is an international Treaty which has been ratified by 89 States. The treaty had been entered up on into for the purpose of establishing uniform International sales law. This treaty is also often referred to as the Vienna Convention. The primary purpose of the Treaty is to make arrangements for exporters in order to help them avoid issues in relation to choice of law. Through this treaty accepted substantial rules are provided which may be relied upon by the courts, arbitrators and contracting parties to resolve contractual issues. Where an Express term of a contract does not prohibit the incorporation of the Treaty it is deemed to be present in relation to contract between parties belonging to the member states of the Treaty. The application of the Treaty is done in relation to contract for sale of goods between those parties who operate in different states and the states are contracting states. The provisions o f the Treaty is also applicable in situation where one of the parties to the contract belong to a non contracting state and the conflict of law rules provides that the law of the contracting state would be applicable. The application of the Treaty is done in relation to Commercial products and goods only. In the light of certain exceptions the application of the Treaty cannot be done in relation to household, family or personal goods along with aircrafts, ships and intangible services. The parties to the contract have the right of excluding the incorporation of the Treaty into the contract. The Treaty is considered to be as the backbone of all countries international trade. Identified issue In the given situation the contract which has taken place between BigMi and the seller is between the contracting states of the convention. This is because the BigMi Company belongs to China who is a member of the convention and the seller belongs to the United States of America who is also a member of the convention. Thus as both the states from where the parties to the contract belong to the contracting states the provisions of CISG would be applicable. The issue which has been identified in the given situation is that the seller was supposed to receive a letter of credit as soon as the ship with the goods had been dispatched however BigMi has failed to provide the letter of credit to the seller as they were able to procure the goods at a less price. In the given situation the seller has been subjected to losses as it had to sell the goods at a lesser price and also include the cost of the charter. It has been provided through article 9 of the convention that any terms which have b een agreed by the parties between themselves are binding upon them. Therefore in the given situation as the letter of credit had not been provided to the seller when the goods were dispatched by the seller, BigMi have breached the contract with the seller. The primary issue is thus the breach of contract. In the given it has been provided that the contract which has been formed between Big Mi and the seller have same states party. This is because both New York as well as California belongs to a single state, which is the United States of America. It has been provided through the provisions of Article 1 of the CISG that the provisions of the convention would only be applicable where the parties belong to different states. Thus the as per the first interpretation the parties would not be applied with CISG as they belong to the other states. On the other hand it has been provided through the case study that the parent company of Big Mi is in China. In situation where the subsidiary company is liable a claim is made from the parent company. In the given situation where the contract had been breached as per Article 9 and 25 of the convention by the subsidiary company in New York the parent company would be liable. If this interpretation is taken then the application of article 1 in this situation can be done. It has been provided through the provisions of Article 1 of the CISG that the provisions of the convention would only be applicable where the parties belong to different states. Here China and USA are different states and the parties to the CISG. Thus the CISG would be applicable. References The United Nation Convention on Contract for International Sale of Good