Econ 103 Term paper Example | Topics and Well Written Essays - 1250 words

Econ 103 - Term Paper Example China’s growth rate was 10.3% in the previous year, and an estimated 9.2% GDP growth is forecasted for 2012. One of the key concerns is inflation in China, which is expected to hover around the 4.3% mark in the following year, primarily due to higher commodity and food prices, and excessive liquidity in the market. China’s next 5-year plan has laid emphasis on reducing reliance on foreign investments due to risk profiles. Domestic consumption and services will be the target for this fiscal year. Private consumption is expected to increase by 12.6% due to rising incomes and excessive spending patterns, while at the same time exports will target a growth of 20%. Japan’s disaster stricken economy is expected to increase at 1.5% post the earthquake, but the nature of the crisis appears to be short-term to medium term. Compared to other Asian nations, China’s economic performance is still laudable, but the creeping inflation threat must be addressed before it s tarts hampering growth. The slowdown in China’s growth will further exacerbate if inflation is kept unchecked. The Asian Development Banks has emphasized that core inflation rising is an issue for most Asian nations are they house over 2/3rd of the worlds poor population, and hence corrective measures will be required from all facets to ensure that the problem does not spiral out of control. Theory Review & Analysis: There are a number of economic concepts are work here. Two of the most prominent ones include the GDP growth and the corresponding inflation rate in the country. China has witnessed phenomenal growth in recent times, primarily due to rapid increase in manufacturing and merchandising sectors of the country. As the fastest growing economy of the world, there is always that element of keeping the pace of growth within acceptable levels to avoid the heating up of the economic business cycle. Given the case at hand, we need to understand the fundamentals which are app licable in such a scenario. This includes the relationship between money supply and inflation. Another feature in the article is the relationship between interest rates and GDP. China’s economic framework is built on the fact that their GDP grows at a steady pace, so that they can sustain this growth. However, the excessive maneuvering of its key economic indicators has lead to a cause for concern. The first issue which is to be analyzed is the rampant increase in the money supply of the country. There has been a credit boom in China, and accessibility to money is no longer an issue for the common man. With banks pursuing easy lending policies and a positive outlook from the People’s Bank of China has left the money supply unchecked and has triggered an excess amount of liquidity in the system. Now it’s an established fact that the money market is in equilibrium when money supply = money demand. In China’s case, the money supply went up and the demand for money adjusted itself by increasing. Thus the spike in demand for money began. With the interest rates on lower ebb, people realized that the opportunity cost of saving money was forgo able and opted for consumption instead. Another established economic theory is that when demand increases, the economy starts growing until a point is reached when more demand for money just pushes the

A Night in New York City Essay Example for Free

A Night in New York City Essay On a late Saturday evening I was studying continuously when suddenly I heard a monotonous and awful scream which made me run out of the house immediately. When I reached outside I could not believe what I had seen. A two-storey and turquoise coloured house had caught on fire. People were rushing in and out of their square shaped houses bringing huge and heavy buckets of water trying to extinguish the ravaging and terrible fire. I was behind the crowd panicking, trembling and feeling afraid looking at the horrible and awful sight. The three people, the father, the mother and their daughter were trapped in the house screaming and crying continuously in pain and anger. Some people tried throwing big heaps of blankets to cover the fire but it was of no use. Instead the fire was increasing dreadfully. Others tried saving the helpless people from the burning house but did not succeed and received minor burns. I ran in the house, picked up the phone and called the fire brigade as quick as possible. I then ran outside and started helping the people who tried to keep the fire in control. In about five minutes the fire brigades had arrived showering loads of water on the house making all of us wet. The fire had extinguished and the people were saved but received second degree burns. They were rushed to the hospital immediately in a red and white ambulance. Everyone was relieved and really tired so they all returned to their respected houses peacefully. Only one thing was bothering us a lot, and that was as to how the fire had started.

Scarlet Letter :: Free Essay Writer

Scarlet Letter Through out the Scarlet Letter I believe that Hester and Dimmesdale do redeem themselves. I am led to think this for Three major reasons. The first being that the sin is between man and God. In my beliefs they do not have to repent to the people for they have not sinned against them. My second reason for my opinion is that both Hester and especially Dimmesdale feel bad in their hearts for what they have done. The third and final reason is that for every crime I feel that there should be an equal or greater punishment for the crime. Both of the two pay more than what is fair for the crime they committed. Sin is between man and God. Being Lutheran this is a belief of mine that I live by. I believe this for when you sin it is God’s heart you are breaking, there for you must repent to him not the people. Hester does this all through out the book. She takes the scarlet letter as a personal ignominious burden. Hester carries the shame of the A in her heart. Much deeper than just on the outside or in public. By this she shows that she is sorrowed in her heart, which in my opinion means she is repenting to God. It is very easy to see Dimmesdale’s shame and repentance in every action he carries out through out the book. Dimmesdale talks of how hard it is to preach to a congregation and save souls when his is polluted. In every action he does he feels bad for the crime he has committed and it shows with his health. For not being able to obtain peace of mind he looses sleep and proper nourishment and eventually his health for a very long period of time. When one can not obtain peace of mind in my opinion it is because ninety-nine percent of the time something is on their conscious. A conscious was God given meaning that there for Dimmesdale is constantly feeling bad begging for forgiveness from God. God is very forgiving and it is written that Jesus died on the cross to cleanse us of our sins. My interpretation of this means to me that Dimmesdale repenting with his whole heart will be forgiven. If one is inline with God I feel that they are redeemed. There are cases in the bible where it says if one is to sin against the people or the church then he must confess in front of those he

Systematic Approach to Managing Ohs

MODULE 1 SYTEMATIC APPROACH TO MANAGING OHS ASSESSMENT Module 1 PROJECT 1 Write a detailed report on the implementation of a systematic approach to managing OHS. Your report might be theoretical or based on your specific workplace. Ensure that you include the following: ?Requirements for record-keeping ?Sources of OHS information and data ?Consultative arrangements ?OHS action plans ?OHS specialists (internal or external) and technical advisors ? Other functional areas ?Proposed changes to the workplace Stakeholders Construction Australia is the company that I am employed by. Our company offers services in refractory installation to all major industries. We are involved in the construction and maintenance of boilers, kilns, ovens, incinerators, etc. in power generation plants, heat treatment plants, chemical plants, steel mills, oil refineries and many more. We conduct high risk work such as demolition, confined space entry, working at heights, and work at extreme temperatures mainly in major hazard facilities.Due to the nature of our work it is vital that we have a system in place to manage Occupational Health and Safety (OHS). A systematic approach to managing OHS allows us to follow a structured framework that ensures primarily, we reduce the risks of injury or illness in the workplace or anyone affected by our activities and that we comply with all relevant laws and legislation. The main elements of an Occupational Health and safety management system (OHSMS) are: †¢Commitment and policy †¢Planning †¢Implementation †¢Measurement and evaluation Review and improvement These elements are incorporated into the system and involve consultation at all stages with stakeholders and key personnel of our organisation. The basis of this approach is a cycle of continuous improvement as illustrated below in fig. 1: When establishing a more systematic approach to managing safety, it is helpful to understand where your organisation is in terms of OHS mat urity. Four levels of system maturity can be considered: †¢Immature (Troubled) †¢Reactive (Responsive) †¢Attentive (Managed) Mature (Value-Adding) Our company is at a mature level as we have established structures, systems and processes in place. We also have a shared belief that OHS is a critical aspect of personal and organisational performance and focus continually on improvement and ways to reduce risks. An effective OHSMS requires the participation of all parts of the organisation. To gain this commitment from people, senior management takes an active role in leadership, allocation of resources, consultative meetings and regular reviews of OHS.The first step in the systematic approach to OHS is to develop a comprehensive OHS policy that states the overall objectives and sets out the company’s commitment to health and safety. The policy should be sufficiently clear and be capable of being read by all relevant parties, internal and external. The policy shoul d be endorsed by the most senior person, such as the CEO or managing director. Beroa’s OHS policy is attached to appendix A. Action plans are a vital part of the planning and implementation process.The organisation needs to determine the key regulatory requirements they must meet and also get an understanding of their major OHS risks and how they will be identified. Objectives, targets and key performance indicators (KPI’s) need to be set. These should incorporate both lead (e. g. number of safety audits conducted) and lag (e. g. number of lost time injuries) indicators. Lead indicators are commonly referred to as Positive Performance Indicators (PPI’s) that focus on assessing how successful an organisation is performing.Using a combination of both lead and lag indicators will provide the best outcomes. A plan is vital to ensure targets are reached in a systematic way and it should be linked to the organisation’s strategic plan. The plan should allocate r esources and timelines and can be used to monitor development of the OHSMS. Appendix B is a Beroa action plan that we have in place. It outlines the systems that we use to ensure that we are compliant with legislation and we are fulfilling the objectives of our OHS policy.We use policies and procedures, inductions, meetings, toolbox meetings, consultation, pre-start checks and regular training and development to deliver all our processes. Our documented policies for hazard identification and hazard/risk assessment, make sure that we remain regulatory compliant through our business activities. Consultation with workplace personnel, OHS professionals, insurers and other relevant group is undertaken to ensure that we develop a safe workplace and mentality. We aim to translate legislation into a language that can be comprehended at all levels.This allows people to understand and participate with feeling unsure or confused. Beroa has an open door policy on all aspects especially OHS. Con sultation is the best tool that we use in our workplace. The changing nature of our working conditions on a constant basis means that we need to know what is going on so we can make sure that we remain compliant and that our systems are working appropriately. Our consultation procedure (Appendix C) acts as an information highway between management and employees, so that if any changes are required they can be made, documented and then implemented into the system.We use the consultation processes with all stakeholders that are involved in our OHSMS, these include but are not limited to: †¢Management †¢Administration †¢Clients †¢Employees †¢Suppliers †¢Unions †¢Work cover and other relevant authorities †¢Insurers †¢Public †¢OHS and technical experts All information gathered from stakeholders is considered and used in the development of our systems, policies and procedures. The applied procedures that our company has in place allow us t o constantly monitor and evaluate our performance.Daily toolbox discussions, training, weekly meetings, management meetings, safety audits and safety checklists (Appendix D) are some of the tools we use to monitor and evaluate. Major policies are reviewed every 2-3 years or as required. The nature of our work requires that we retain specific records for specified times in order to comply with legislation. These include: Confined space entry- we retain entry permits for 1 month, risk assessments/JSA for 5 years, training records for the term of employees employment plus 7 years and any notifiable incidents for 2 years after the incident occurs.Health monitoring records- these must be kept for 30 years after they are recorded and 40 years for asbestos related documents. These records must be kept confidential. Hazardous chemicals register- we keep registers of any chemicals that are stored. We list them and keep material safety data sheets, which are readily available to employees or anybody that could be affected by the chemical. We have two methods of record keeping, hard copy and electronic. All documents are kept on both. Within the electronic system we have a sub-system called Timberline.This system is passcode protected and has restricted access; all personal details and personal health records are kept in this system for confidentiality. Our OHS manager has access along with relevant management. Project files for each client are kept and updated after completion of each project. Documents included include attendance sheets, JSA’s, toolbox meetings, materials and equipment, inductions, training, client feedback, performance reports, safety audits and observations. Employee records such as inductions and qualifications are also kept and updated when needed.We also keep lists of OHS safety representatives and are readily accessible and up to date. OHS affects all aspects of an organisation. An effective OHS system allows other functional areas to thri ve and exploit the benefits. The reduction and elimination of work place injuries will reduce the cost of workers comp premiums, limit sick days and reduce the money spent on rehabilitation, all this eases the strain of budgeting systems and also allows more resources for training and information of OHS.Public relations will find it easier representing our positive results in safety and compliance to existing and future clients, public and relevant authorities. It will also reduce the workload of administration allowing them time to work on other aspects of the business. Our OHS system allows our employees to take an active role in all aspects in relation to the system. This gives them a sense of ownership and the drive to make sure that we reach and outperform our goals and objectives.

Corporate Social Responsibility -Pros and Cons Essay

CSR which stands for corporate social responsibility which is also known as corporate citizenship, corporate conscience and responsible business. 2.Different organisations have framed different definitions – but in a nutshell CSR is about how companies manage the business processes to produce an overall positive impact on society. It is like giving back to the society. 3.CSR working would go beyond monetary donations to involvement in actual planning, execution and monitoring of public welfare programmes which has an overall impact to the consumers, workforce and stakeholders. 4.By adopting CSR it enables the corporate sector to achieve the twin objective of achieving a measurable positive change in the community and also the brand building of the company, boosting the morale of owners, shareholders, employees and customers. 5.All leading corporates in India are involved in corporate social responsibility (CSR) programmes in areas like education, health, livelihood creation, skill development, and empowerment of weaker sections of the society. 6.Our company is too busy surviving hard times to do this. We can’t afford to take our eye off the ball – we have to focus on core business. It’s the responsibility of the politicians to deal with all this stuff. It’s not our role to get involved 7.Notable efforts have come from the Tata Group, Infosys, Bharti Enterprises, ITC Welcome group, Indian Oil Corporation among others. 8.As per the latest news, government’s new companies bill reportedly ask large companies to spend 2 % of their net profit on CSR.The theory is that corporates must aim for social goals not just profits. 9.To summarize CSR is one where it’s a win- win situation for both company as well as for the society.