Taiwan: Major Industires

Taiwan: Major Industires TAIWAN: MAJOR INDUSTRIES The major industries in Taiwan are electronics, petroleum refining, armaments, chemicals, textiles, iron and steel, machinery, cement, food processing, vehicles, consumer products, pharmaceuticals. We can have a look at the major industries one by one and then do an analysis on the investment opportunities on one of them. SEMICONDUCTOR INDUSTRY Taiwan has truly emerged as a global leader in the semiconductor and microelectronics industry and serves as the home of the worlds top IC foundries, Taiwan Semiconductor Manufacturing Corporation (TSMC) and United Microelectronics (UMC), which hold a majority of the market share. Taiwan is also an important player in Mask ROM production, IC packaging and IC testing, accounting for 57.1%, 32% and 36% of global market shares respectively. Taiwan-based Advanced Semiconductor Engineering Inc (ASE) and Siliconware Precision Industries (SPIL) lead the IC packaging industry, while ASE Test and ChipMOS Technologies lead the IC testing industry. Taiwans IC design industry has ranked second only to the US, accounting for 28.4% of the market worldwide. Media Tek, VIA, Realtek and Sunplus are among the top 20 IC design houses. Taiwan ranks as the worlds 3rd largest maker of DRAM components, supplying 17.1% of the market. Taiwan also serves as a key IC market, with a value of US$11 billion in 2002, representing 25.7% of the market in Asia and 8.1% of the global market. Competitive Advantage and Market Strengths Taiwan plays a major role in the global semiconductor industry, as the unique structure of its IC industry fosters close cooperation among diverse yet essential elements in the value chain, ranging from IC design and manufacturing to packaging and testing. Investment Opportunities and Market Potential The National Si-Soft Project was launched in 2003 in an effort to upgrade Taiwans IC industry from mainly contract manufacturing to RD and innovation oriented production. The project aims to make Taiwan the one-stop shop for IC designs, mix-and-match intellectual properties, manufacturing, and testing. The National Si-Soft Project is devoted to developing System-on-Chip (SoC) infrastructure in Taiwan. Specific contents of the Si-Soft Project include automation software, silicon intellectual property (IP), embedded software, and system single chip, which are all essential in IC design. New IC designs will in turn drive the development of information household appliances, photoelectricity, internet technologies, energy, communication, biological chips, and nanotechnology. The project offers various benefits such as: Providing available IP sources and a more simplified transaction flow for the IC design industry (including design services), in order to decrease the time required for IC design. Improving the competitiveness of practitioners in the system industry as they realize the system knowhow in their own SoC Effectively cultivating star IP vendors in the IP industry Attracting more customers with value-added products (more complete IP features) for chip manufacturers Allowing practitioners in the packaging and testing industries to interchange freely and learn about the most advanced technologies relevant to their field in order to further enhance their technological expertise DISPLAY AND OPTOELECTRONICS Taiwan has seen significant growth in its color imaging (CI) industry in recent years. The overall production value of the flat panel display (FPD) industry alone has increased more than twofold since 2001, totaling US$7.39 billion, of which 83.4% came from the production of large size TFT-LCD units. In Q1 2004, the islands Flat Panel Display (FPD) sales reached NT$171.3 billion (US$5.1 billion), a 115% increase on the previous year, and 2004 sales are projected to reach NT$727.1 billion (US$21.7 billion). As Taiwan manufacturers are positioned to start mass production on next generation panels (6th, 7th, and 7.5), the total production value of Taiwans FPD industry will surpass NT$1 trillion. Taiwan is currently expected to account for 41% of large-sized TFT-LCD panel supply in 2004, becoming the worlds largest production base. Major TFT-LCD makers in Taiwan, such as AU, Chi-Mei, CPT, QDI, Hannstar, Toppoly, and PVI, have contributed greatly to the progress of the CI industry. AU, which receives the majority of its funding from Taiwan, is the third largest panel supplier in the world, and is the largest producer in Taiwan. Chi Mei, the second largest producer in Taiwan, is fast approaching AU in terms of production value. Competitive Advantages and Market Strengths Over 30% of the key components for FPD, such as polarizers, backlight modules, color filters and driver ICs, are manufactured in Taiwan, and local component makers such as Optimax (polarizers), Forhouse and Radiant (backlights), Allied Material Technology, Cando and Sintek (color filters), Novatek and Winbond (driver ICs), work very closely with panel makers. These component and finished product manufacturers are clustered around the Taoyuan, Hsinchu, and Tainan areas, creating an integrated supply chain that further strengthens Taiwans position in the global IT industry. Investment Opportunities and Market Potential As Taiwan is the worlds second largest producer of panels and the market for components is quite large, the government is inviting foreign suppliers of materials and equipment to build factories in Taiwan, to enable faster and more effective product and service deliveries. Panel makers in Taiwan plan to establish G5 and G6 production lines, with the goal of becoming the leading panel supplier in the world. The government aims to generate US$40 billion in FPD production value by the year 2006. In the next three to four years, enterprises specializing in advanced components will have ample space for high growth potential. The government offers investors in the color imaging industry special tax reduction and investment incentives. Combined with a highly skilled workforce and abundant experience in the IT industry, Taiwan is the ideal destination for investment in the color imaging industry. Foreign Direct Investments in Taiwan The color imaging industry in Taiwan has grown very rapidly in the past few years. In light of an increasing demand for flat panels in the global market and strong competition, Taiwans vendors realize the importance of improving their technology and producing the right key components. The cost ratio for TFT-LCD components is quite high, with color filters at around 26% and glass substrate near 4%. Taiwans government has been active in soliciting foreign investors to manufacture these key components in Taiwan. BIOTECHNOLOGY AND PHARMACEUTICALS Taiwans concerted policy efforts to develop research, development and production capabilities in the biotech sector have paid off in creating a wealth of investment opportunities. Biotech research at Taiwans top academic institutions is gaining international attention, while development capabilities, fostered through joint industry and government support, are turning these research achievements into commercially viable products. Taiwans mature production and logistics capabilities, evidenced by its over 100 cGMP-awarded pharmaceutical manufacturers, have been widely recognized as powerhouses in this area. Goals for the Coming Decade Having established a solid foundation, the Taiwan government has designated the biotechnology industry for further development into a key industry in its Two Trillion, Twin Stars Plan and Challenge 2008 National Development Plan. Through the combined efforts of government, academia, research and industrial sectors, Taiwan is poised to become a major hub and logistics operations center for RD, manufacturing, and operations in the biotechnology and pharmaceutical industries within the Asia-Pacific region. The governments plans to promote the industry include achieving targets of NT$150 billion (US$4.34 billion) in investments and 25% annual revenue growth by 2008 and five hundred biotech-related companies within ten years. Competitive Advantages and Market Strengths Superior pharmaceutical production and manufacturing capabilities Geographically positioned close to potential markets in Asia allows for enhanced product development for Asian markets Excellent springboard for entering other Asian markets Ease of communication and reduced cultural barriers Strong venture capital and financial resources Abundance of technical specialists in organic chemistry, optoelectronics, integrated circuitry, automated systems, and other relevant fields Excellent research facilities and well-staffed healthcare organizations TELECOMMUNICATION Taiwan offers much potential in the telecommunications market, with one of the most advanced telecommunications networks in the region. High penetration rates in both the fixed-line and mobile phone sectors have encouraged growth in telecom products and services. Looking to 2004, the Ministry of Economic Affairs has announced plans to make the telecommunications industry one of Taiwans trillion dollar industries, which will nurture the development of wireless applications, 3G, and broadband services. Competitive Advantages and Market Strengths Taiwan is currently the fourth largest producer of PCs. As PC-related IC design and manufacturing technology in Taiwan have reached world standards, wireless communication and broadband communication products, related components/assemblies and systems products manufacturing technology have all been the beneficiaries of a multiplier effect. A growing number of Taiwan manufacturers boast manufacturing and marketing capabilities for research and development of xDSL, DLC, SDHH, DWDM, and cell-phone related products. If these are combined with telecommunications service capabilities of foreign companies, particularly in the area of content services, their ability to enter newly developing markets will surely stimulate a new wave of product demand. Taiwans world-class technological advantages enable it to benefit from US and Japanese RD resources. Taiwans central location in the Asian Pacific region provides ideal access to the emerging Mainland China and Southeast Asian markets and to manufacture highly-competitive communications technology products. For manufacturers advancing into newly developing markets, Taiwan remains the most advantageous base for business operations in the region. Investment Opportunities and Market Potential In order to establish Taiwan as a broadband communications technology island, the government has classified telecommunications as a strategic industry, allowing it to benefit from a host of investment and tax incentives. The Related Industries Promotion Plan is expected to facilitate the establishment of communication-oriented SoC IC design, fiber-optic components/assemblies, production facilities, software and telecommunications service industries innovation. IT product manufacturing is expected to reach its goal of surpassing US$ 30 billion by 2007. At the same time, in order to comply with telecommunications industry liberalization and national infrastructure requirements, Taiwan has in recent years gradually liberalized the 3G and wired network markets. Estimates for 2005 anticipate US$50 billion in equipment purchase orders and US$20 billion in telecommunication service industry revenues. Market opportunities are tremendous, making Taiwan the ideal investment destination for the equipment manufacturing industry and content service providers. MATERIALS AND FINE CHEMICALS The production value of the material and fine chemical industry in Taiwan has averaged approximately US$44.38 billion annually, with petrochemical materials, polymer, electrical materials and fine chemical products as major output. Taiwan is the largest producer of ABS, the second largest supplier of PTAs, and the fourth largest in PVCs, supplying the Taiwan domestic market and the worlds major markets, especially Mainland China. With a well-developed supplier chain and marketing channels all over the world, Taiwan plays a key role in many markets today. In fact, a growing number of leading companies, such as Chi-Mei, Nan Ya Plastics and Formosa Plastics in the material industry, and UPC, Dahin, Lee Chang Yung Chemical in the fine chemical industry, are emerging more visibly in the international markets. In addition, Eternal Chemical and Chang Chun Plastics in the electrical material industry, and Taiwan Shiseido, Grand Glory Biotechnology, Taiwan Sugar, and Taiwan Salt in the cosmetics industry are already well-established in their respective markets. As the IT industry becomes more competitive, Taiwans material and fine chemical industry has been focusing on semiconductors, plane display materials, print circuit boards, nanotechnology materials and other high value-added products. Investment Opportunities and Market Potentials Taiwan is home to a great number of talented RD and design people who are well-educated and possess experience with international companies, making the island more advantageous location for multinational companies to localize as part of a globalization strategy. In recent years, Taiwans IT industry has shown impressive progress the semiconductor, TFT-LCDs, and print circuit board industries are seeing dramatic growth and have reached large-scale production levels, thereby gaining strength in the international markets. The materials and fine chemical industry in Taiwan will be highly essential in supporting the IT industry and meeting its rigorous demands. The Challenge 2008 National Development Plan, a government-support project that shows a list of plans and incentives on land lease, funding, taxes, and other benefits, demonstrates the value that the materials and fine chemical industry brings to Taiwan. Taiwan has created vast opportunities for both international and domestic firms, with Mainland China as the biggest and most prominent market. With its strategic geographical location and experience in world trade, Taiwan makes the ideal center for manufacturing and market development in the Asia-Pacific region. FINANCE, SECURITIES AND INSURANCE With foreign exchanges reserves of over US$200 billion at the end of 2003, and a forecasted 4.5% economic growth rate for 2004, Taiwan continues to maintain a robust economy, due in part to government action on internationalization and liberalization policies. Competitive Advantages Market Strengths As a growing number of global industries are migrating to the Far East, Taiwan is an ideal location to establish a financial base. Multinational companies in Taiwan have access to more precise information on the Asia-Pacific region as they expand their business. In recent years, East Asia has become an important investment location for European and American countries. Taiwans stock market index is covered in both Dow Jones and Morgan Stanleys stock indices, to the benefit of foreign investors. In addition, the government has loosened restrictions on foreign capital in the Taiwan stock market, bringing more attention to Taiwans market. Investment Opportunities and Market Potential In pursuing its goal of becoming the financial center of East Asia, Taiwan is revising its financial policies to bring them to international standards. Examples of such policies include: Lifting constraints on offshore banking units (OBUs) Policies include expanding the depth and breadth of foreign currency market, and broadening the offshore banking units market and foreign currency overnight rate market to attract foreign financial institutions and enhance Taiwans position as a regional funding center. Taiwan will therefore expand its stock and bond markets, improve market regulation and efficiency, and promote the internationalization of the securities market. Foreign investors can buy and sell securities, bonds and public warrants freely without restrictions of time or location, have more versatility in managing investments, and vitalize the market. Ongoing liberalization of capital markets for foreign investors the ROC government has opened up its stock market to foreign investors with minimal restrictions. With the introduction of more financial commodities in the market and more diversified channels for funds, Taiwans capital markets are opening to increasing foreign investors, who are now allowed to manage derivative financial products instead of spot commodities. In addition, foreign capital is now permitted in the private placement market, and these newly available commodities are attracting more foreign investment. Opening the insurance market to foreign investors Fifty-five insurance companies are currently in operation in Taiwan, of which 21 are foreign-owned. Other measures to liberalize the Taiwan insurance market include: relaxing restrictions on the approval of commodities; liberalized rates; investment policies and procedures; the opening of cross-strait insurance exchanges; the promotion of risk-based capital (RBC) systems; information disclosure systems; and a certified actuary system. With monitoring of all foreign insurance companies in Taiwan to ensure compliance with policies on remuneration for Taiwan citizens, the foreign insurance industry in Taiwan can operate in a fair and reasonable business environment. In addition, with the islands excellent location and workforce, Taiwan has the potential to become the Asian insurance market hub for foreign investors. Increasing the liquidity of financial capital in the stock market The Securitization of Financial Assets Law was implemented on July 24, 2002, with the aim of improving and increasing the liquidity of financial assets, including fully liberalized foreign investments in the public and private placement of securitization of financial assets. Several domestic banks are in the process of cooperating with foreign financial institutions in this regard. According to the rules for MFN and National Treatment, foreign invested banks in Taiwan can compete on an equal footing with domestic banks. They are all granted licenses and can operate as fully-functional branches in Taiwan. In addition, as stated in the Banking Law and Financial Holding Company Law, a foreign financial institution may invest up to a 100% stake in a domestic bank. Moreover, foreign banks and financial holding companies that have sufficient experience and a good reputation can hold shares of up to 100% under their original name. Foreign financial groups may merge with Taiwans local financial institutions under the Merger Law for Financial Institutions, which has been established for the purpose of regulating the merger of financial institutions, expanding economies of scale, enhancing the efficiency of financial institutions and protecting proper competition environments. The law provides a friendly legal environment and mechanism for the operation of Asset Management Companies. Flexible government restrictions allow foreign investors to set up their operations headquarters in Taiwan to conduct multilateral trade a growing trend for foreign companies to gain a more competitive edge. ANALYSIS OF THE TAIWANESE BIOTECHNOLOGY SECTOR Taiwans biotechnology industry includes biotechnology, pharmaceuticals and medical devices. In 2003, the total annual revenue for these industries in Taiwan was approximately NT$131.6 billion, of which NT$29.6 billion came from biotechnology0.9 percent of the total global revenue-represented by 223 companies, each with an average revenue of NT$133 million. Business scope covered included genomics, drugs, diagnostics, agricultural biotechnology, environmental biotechnology, protein drugs, contract research organizations, biochips and bioinformatics. The islands pharmaceutical industry returned NT$61.4 billion,0.4 percent of the global total with 429 companies active in this sector, averaging NT$143 million per company. The medical devices industry returned NT$40.6 billion,0.6 percent of the global total, coming from 397 companies, with an average revenue of NT$102 million each. The biotechnology workforce size is 35,610, of which 7,200 are in the biotechnology industry, 14,224 in the pharmaceutical industry and 14,186 working in the medical devices industry. Status of Biotechnology Development in Taiwan (2003) Units: NT$100 million Industry Biotechnology Pharmaceutical Medial devices Total Revenue 296 614 406 1,316 Number of Companies 223 429 397 1,049 Size of work force (number) 7,200 14,224 14,186 35,610 Export value* 113 45 288 446 Import value* 120 339 425 884 Domestic sales vs. export 62:38 93:7 29:71 66:34 Domestic market demand* 303 908 543 1,754 BIOTECH INDUSTRY ANALYSIS: MICHAEL PORTERS FIVE FORCES MODEL Advantages and opportunities in Taiwans biotech industry Advantages: 1. Active and continuous efforts to build up an attractive investment environment by the government 2. Large input to investment of up- and mid-stream RD and infrastructure 3. Close bond with fast growing Asian markets 4. Sufficient domestic capital for investing from intensive partners 5. Solid foundation and experience from the past development of the electronics industry 6. Proper environment for the development of small- and medium-sized enterprises; and the diligent and aggressive entrepreneurial spirit of the Taiwanese 7. Ample biotechnology and pharmaceutical professionals based both locally and overseas 8. Relatively homogenous ethnic Chinese population, ideal for the development of an Asian-prevalent-disease-related biotech industry 9. Qualified RD personnel who are capable of establishing a knowledge economy to reflect Taiwans uniqueness 10. Advanced traditional agricultural technology to support development of agricultural biotechnology Opportunities: 1. The key industry in the governments Challenge 2008 six-year national development plan 2. The listed incentive industry among newly encouraged emerging strategic industries 3. Rising demand in better living standards in the Asia-Pacific; and growing economy and market for potential development 4. Increasing number of strategic alliances and technology transfer cases 5. RD and precision processing sectors are ready to take advantage of the growing global trend towards outsourcing in the biotechnology industry. 6. Right timing for endless business opportunities in post human gene decoding 7. High value-added, long life cycle and value chain of biotechnology; many points of entry available, from RD to marketing 8. Flourishing biotechnology RD service industries (technical evaluation, RD design, intellectual property services, and start-up incubation services) 9. Many large-sized high-quality medical centers, providing optimal conditions for undertaking clinical trials 10. Clear market segmentation from temperate zone products of advanced countries with Taiwans sub-tropical climate to develop Asian sub-tropical agricultural biotechnology 11. Plentiful related information aggregated from National Health Insurance program 12. Diseases associated with a modern sedentary lifestyle, with potential for drug and disease screening technology platforms Objective. RECOMMENDATIONS 1. Although there are a few biotech companies but all of them are small scale operators. Hence a consolidation programme can be started. 2. Since biotech is going to help pharmaceutical companies in a big way hence pharma companies can make a conscious effort to start RD centers with emphasis on biotechnology. 3. Although the government is supportive of the sector but not many FDIs have been invited. The government can specifically invite FDIs in this sector. 4. Large companies like Biocon and Brighton Research labs should be asked to set up facilities. They can be promised access to markets in mainland China through Taiwan. 5. Most of the raw materials required is being imported, so the government can devise strategies to develop auxiliary industries and make the sector self sufficient. 6. Newer and more challenging topics can be taken up to study. Like human genome sequencing which would help in determining the genetic causes for diseases like cancer and AIDS.

Client Paper Essay

Human service professionals, or helpers, will likely work with many different clients, each with their own set of problems. These problems can range from physical abuse and neglect, aging issues including death and dying, and a number of other issues concerning the basic needs of life. Problems can also encompass the many different situations people find themselves in either as a result of life choices or out of no fault of their own. These problems may include homelessness, combat veteran issues, and mental illness. Whatever the problem or problems are, it is the responsibility of the helper to use a wide range of skills to assess client needs, create a treatment plan, and offer resources and emotional support to the client as they accomplish the goals included in the treatment plan. These skills include communication, empathy, compassion, patience, analytical skills, and teamwork. A range of problems faces human services clients â€Å"Problems for clients are rarely single issues, and the human service professional should approach each client with the expectation of more than one problem.† (Woodside & McClam, 2011, p. 131) Every problem that a client presents with cannot be predicted. In fact, client problems encompass a wide range of needs and circumstances. For example, a client who is struggling with domestic violence may also have a need for mental health support. A client with mental health issues may also be experiencing a lack of food, clothing or shelter. The problems facing clients are very broad and it is helpful to better understand them. Problems facing children and families include physical and sexual abuse, poverty, lack of a healthy home, or little education. Children are especially vulnerable as they cannot provide for themselves. Although â€Å"[t]he best place to serve kids is in their home and with a family,† there may be a necessity for placement in foster care or, in some c ases, adoption (Moffat, 2011, p. 5). The elderly also face  unique problems such as lack of mobility, losing their independence, and end of life issues. When the elderly can no longer care for themselves, finding in-home care or placement in assisted living or nursing home facilities becomes the focus. In addition, the elderly may struggle with some of the basic needs of life such as food, shelter and clothing. Immigrants, veterans, and people with disabilities face other problems in the human service field. Immigrants struggle with adapting to a new culture in a new country as well as learning a new language. Immigrants may have problems with finding employment, housing, and legal help, as well. Veterans need assistance with adjusting to civilian life including adjusting their skill sets to match employment opportunities. Combat veterans especially struggle with physical and mental disabilities and are in need of appropriate services for rehabilitation. Disabled people face challenges in personal care as well as employment, including issues with rehabilitation and adapting to their disabilities. The need for residential or group care facilities may also be at issue for the disabled community. Problems with substance abuse and addiction, mental illness, and clients with criminal records also exist. Many of these problems co-exist in a client’s life and need to be addressed as a whole. â€Å". . . the client is an individual comprised of psychological, social, economic, educational, vocational, and spiritual dimensions and possibly will have needs in many of those areas.† (Woodside & McClam, 2011, p. 132) Specific helping skills can be used with clients Essential to the helping process is knowledge and practice of professional and interpersonal skills that help the human service professional in effectively addressing the needs of clients. These skills include communication, empathy, compassion, patience, analytical skills, and teamwork. â€Å"Chief among these are interpersonal and communication skills, because more workers deal directly with a variety of people† (Moffat, 2011, p.9). The work of human service professionals centers on building relationships of trust with the client. It is the responsibility of the helper to facilitate effective communication. Listening is vital to the process. In order to fully grasp the client situation, the helper needs to observe both the verbal and nonverbal messages. Listening involves paying  attention to both words and actions as they go hand in hand in understanding the total message being given. G.E. Egan introduced the SOLER concept for responsive listening. Learning this concept c an be very useful to the human service professional (Egan, 2010). Details of the SOLER concept are illustrated in the following table: S Face client Squarely O Adopt an Open posture L Lean toward the person E Maintain good Eye contact R Try to be relatively Relaxed In addition to the SOLER method, paying attention to vocal tone and speech rate, and verbal tracking of the client’s message will exhibit attending behavior and help the communication process (Ivey, Ivey & Zalaquette, 2009). The helper can encourage the client to discuss their issues openly by not changing the subject they have chosen. Effective listening shows compassion for the client and creates an opportunity to show empathy and patience, additional skills that are essential to the success of the human service field. Clients in the human service field come from a variety of situations. Their values and belief systems vary widely as much as their problems do. In order to effectively help people, helpers need to develop acceptance and understanding of these differences. Unconditional acceptance of the client is essential to the success of treatment. Helpers need to see the situation and experience feelings from the perspective of their client. Patience is necessary for the h elping process as there are likely to be setbacks or resistance to the treatment plan. Helpers should learn to adapt their approach as the situation changes; which leads to the skill of critical thinking. â€Å"The ability to think creatively helps workers determine ways to get around hurdles that interfere with clients’ efforts to succeed† (Moffat, 2011, p.10). Throughout the helping process, a variety of changes is bound  to occur. Whether these are positive or negative changes, client and human service professional must work together to deal with them and continue to move forward with the assistance process. Using analytical and problem-solving skills, helpers can overcome the roadblocks to treatment and continuously work towards solutions. Treatment often involves networking with a number of other professionals and utilizing a variety of resources. Being able to work well as a team is another essential skill for human service professionals. Psychologists, Social Workers, Mental Health Facilitators and Counselors are all participants in the work of h uman services. Using communication, empathy, compassion, patience, analytical skills, and teamwork, the helper can effectively recognize and define the variety of client problems that exist and work with them towards accomplishing the goal of the helping process, which is to encourage responsibility and promote self-help. References Egan, G.E. (2010). The skilled Helper: A problem management and opportunity development approach to helping (9th ed.). Pacific Grove, CA: Brooks/Cole Ivey, A. E., Ivey, M. B., & Zalaquett, C. P. (2009). Intentional interviewing and counseling: Facilitating client development in a multicultural society (7th ed.). Pacific Grove, CA: Brooks/Cole Moffat, C. (2011). Helping those in need: Human service workers. Occupational Outlook Quarterly, 55(3), 22-32. Woodside, M., & McClam, T. (2011). An introduction to human services (7th ed.). Belmont, CA: Brooks/Cole, Cengage.

Unusual Article Uncovers the Deceptive Practices of Practice Essay Topics for Cbest

Unusual Article Uncovers the Deceptive Practices of Practice Essay Topics for Cbest The Lost Secret of Practice Essay Topics for Cbest Before you commence writing your essay, there's a need to find the sensation of connection to the subject, the attraction to it and a deep interest. First thing you ought to do is to think about a few extensive topic you want to write about. There's a remarkable remedy to your issue! The issue, nevertheless, is that not all businesses can be relied on to deliver quality essays on time so you need to be cautious in selecting one. Textbooks are obsolete and needs to be replaced by iPads. Introduction is among the most important components of any part of literature. Selecting an excellent topic for your essay is among the most essential and frequently tricky parts for many students. Practice Essay Topics for Cbest Help! 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University of Puget Sound GPA, SAT and ACT Requirements

Factors Influencing A Person s Developmental Stages

There are many factors in a person’s developmental stages that can either contribute to or hinder their ability to socialize and form close relationships. Specifically, someone who has become a victim to post-traumatic stress disorder (PTSD) as a child can have trouble forming close relationships, and there are certain reasons why they feel the way they do about themselves to have such repercussion on their relationships. It is astounding how easily a terrifying experience can trigger change in a person, whether it happens quickly or sets in over time. The way a person is raised as a child has a huge impact on their perspective of life, and if they go through a traumatic experience, their perspectives can become severely damaged if they are not given the proper nurture and guidance. The attachment theory explains that relationships with primary caregivers during early development influence emotional and behavioral responses across the lifespan through a behavioral system that influences expectations of both self and others in close relationships (Ortigo, 2013). It seems that in order for an adult to soundly respond to a complex emotion within themselves that is triggered by another person, they would have needed the support and guidance from those who raised them in their early developmental stages. Individual attachment histories, beginning in infancy, color each person’s expectations of close relationships (Ortigo, 2013). According to K. Bailey (2012) individuals withShow MoreRelatedThe Overall Growth And Development Of C.p1083 Words   |  5 Pageswas admitted to Renown Health’s pediatric floor to determine the cause of his cyclical vomiting. C.P. has a secondary diagnoses of autism spectrum disorder. 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Racial Divide In America Health And Social Care Essay Free Essays

The United States wellness attention system is considered missing when compared to other developed states. The issues refering the quality of wellness attention raises polarized argument across the state, yet everyone agrees that on the whole, the U.S. We will write a custom essay sample on Racial Divide In America Health And Social Care Essay or any similar topic only for you Order Now wellness attention system is one of the better attention systems in the universe. Despite immense investing and changeless reforms, there is an overpowering organic structure of literature back uping racial disparity in the wellness attention system, particularly amongst African-Americans. This paper explores the causes for the disparity in wellness attention that prevail against African-Americans. The surveies on wellness attention disparity portion common decision that African-Americans suffer from terrible wellness attention disadvantages. Research has besides shown that African Americans have higher mortality and morbidity rates1. They experience hapless wellness runing from infant mortality and diabetes to cardiac disease, HIV/AIDS, and other unwellnesss. 2 There are many factors lending to difference in the wellness attention quality among the races. One of the most perennial and common documented factor is the socio-economic factor. It is good documented and recognized that disparity in socio-economic across racial and cultural groups correlatives to disparity in the wellness attention. 3 SES affects handiness to quality wellness attention and better populating criterion which leads to healthy diet. It besides affects instruction quality that has deduction for future development. A recent analysis of 1991 to 2000 mortality informations concluded that, had mortality rates of African Americans been tantamount to that of Whites, over 880,000 deceases could hold been prevented.4 These 800,000 African americans died because of hapless wellness quality and carelessness on the supplier ‘s side. In add-on, African American babies are two to three times more likely than white babies to hold low birth weight-a cardinal index of baby mortality.5 Even after commanding economic factors, surveies show that African-Americans receive poorer quality intervention than their white opposite numbers with same insurance. So why are African Americans having hapless quality wellness attention? The reply to this inquiry encompasses an intricate organic structure of history of racism, wellness attention construction A ; policy and environmental factors that has put minorities ‘ wellness at a disadvantage. In the yesteryear, a turning figure of research relied on socio- economic position factor to explicate the racial disparity. In recent old ages, racial prejudices are good recognized and documented to explicate the difference in wellness quality. In fact, in the most recent study by Institute of Medicine ( IOM ) , they found strong grounds that racial prejudice, favoritism, pigeonholing, and clinical uncertainness besides play a function. 6 In the book Health Care disparity in the United States by Donald Barr, he concludes that â€Å" unconscious prejudice † is the chief cause of disparity in the wellness care7. Dr Barr exerts that most doctors carry unconscious prejudice when they treat patients of differing cultural or racial background. Experimental surveies besides confirm that doctors can keep negative beliefs about their minority patients. The negative stereotypes in bend affect the type of intervention or prescription offered to them. Thus the difference in intervention and lack in wellness among African Americans is largely due to their doctor ‘s bias.8 These prejudices stem from race as a societal building that existed from long ago and continues to make so. The difference in wellness attention intervention based on race roots from U.S. history of racism based on negative stereotyping that plagued the state for decennaries. The unconscious racial prejudice held by doctors entirely can non account for the disparity. The construction of wellness attention system, and policies in which the attention is provided, besides contribute to the inequality of wellness attention. For illustration, quality of wellness attention resources depends on the vicinity in which wellness centre is located. Many Afro-american vicinities are extremely segregated from white communities. In such countries, doctors have greater troubles accessing high-quality specializers, diagnostic imagination, and non-emergency admittance of their patients to the infirmary, than doctors who serve preponderantly non-minority patients.9 The other consequence of race is its deduction on the individual. Person ‘s racial individuality can do them to be prone to certain diseases like bosom diseases, higher blood force per unit area due to emphasize, and favoritism subjected to them. There is a figure of research that really supports this. In fact Dr. Arline Geronimus of University of Michigan proposed the â€Å" weathering † hypothesis, which states that Afro-american experience early wellness impairment as a effect of the cumulative impact of perennial experience with societal or economic hardship and political marginalization.10 From 1990, the racial disparity drew serious attending from outside organic structures like United Nations and World Health attention organization.11 Ever since so these outside organic structures have been pressing U.S. authorities to take actions. There has been lot done to document the disparities and implicate policies to diminish the spread. In certain countries, wellness attention for African Americans seem to better, yet from a bigger position the quality of wellness attention seems to increase small or no alteration at all. For case, among African Americans, decease rates from bosom disease were 10 % lower than in White persons in 1980, but 30 % higher in 200012. Cancer is the second-leading cause of decease in the United States and African-Americans have moved from holding a decease rate from malignant neoplastic disease below that for Whites in1950 to a rate 30 % higher than for Whites in 200013. Such statistics calls for serious argument, it is sad to see widening racial disparity of wellness attention in a state that has the highest Gross Domestic Product ( GDP ) . Studies point to new ways to incorporate racial determiners as cardinal factors to better the wellness attention for minorities. Dr. Barr in his decision calls for an addition in minorities in the wellness attention professionals. The racial disparity in wellness attention is a consequence of interaction of race with socio-economic factor, wellness attention construction, environmental conditions and biass. Merely as racial biass still pertain in today ‘s universe, the institutional racism in wellness attention besides pertains. The racial disparity in the United States is a serious issue that requires betterment and governmental attending. There has been lot done to bridge the spread, yet really small has improved. This issue requires calls for different professionals to work together. End Notes Kaplan, H Roy. The Myth of Post-Racial America. Old line state: Rowman A ; Littlefield Education, 2011. Kahng, Sang Kyoung. â€Å" Can Racial Disparity in Health between Black and White Americans Be Attributed to Racial Disparities in Body Weight and Socio economic Status? † Health A ; SocialWork, November 2010, 257-66. Kahng, Sang Kyoung 2 S.H. Woolf et al. , â€Å" The wellness impact of deciding racial disparities: An analysis of US mortality informations † , Public Health 2078, 2078-81 ( 2004 ) . Board on Health Science Policy: Unequal intervention: Confronting Racial and cultural disparities in Health Care, Consensus Report, March 20, 2003. Board on Health Science Policy 4 Barr, Donald, A. Health Disparities in the United States: Social Class, Race, Ethnicity, and Health. Old line state: The Johns Hopkins University Press.2008. Barr, Donald, A. 7 Dolores Acevedo-Garcia et al. , â€Å" Unequal Health Outcomes in the United States † , A Report to the U.N. Committee on the Elimination of Racial Discrimination, January 2008. Arline T. Geronimus, ScD, Margaret Hicken, MPH, Danya Keene, MAT, and John Bound, PhD, â€Å" â€Å" Weathering † and Age Patterns of Allostatic Load Scores Among Blacks and Whites in the United States † , American Journal of Public Health, May 2006, Vol 96, No. 5 Kim, E Annice, Kumanyika Shiriki, Igweatu Daniel, and Kim, Son-Ho. â€Å" Coverage and Framing of Racial and Ethnic Health Disparities in US Newspapers, 1996-2005. † American Journal of Public Health, Supplement 2010, 224-31 Airhihenbuwa, O. Collins, A ; Liburd, Leandris. â€Å" Eliminating Health Disparities in the African American Population: The Interface of Culture, Gender, and Power † Health Education A ; Behavior, August 2006, 488-501 Airhihenbuwa, O. Collins, A ; Liburd, Leandris 12 How to cite Racial Divide In America Health And Social Care Essay, Essay examples

Evaluation of Various Accounting Policies-Free-Samples for Students

Questions: 1.Using the American Accounting Association (AAA) ethical decision model and relevant ethics standards to recommend a course of action for Janelle. 2.With reference to relevant case law, prepare a report for the managing partner of MYH on the strength of any negligence case that GGL might bring against MYH. The report should follow standard report structure. Information on report writing can be found here. Answers: 1.During the year 1990, Langenderfer and Rockness developed the different concepts of the American Accounting Association (AAA) model. AAA model provides the auditors with seven logical steps in order to deal with different ethical situation in auditing (Hope, Thomas Vyas, 2013). It needs to be mentioned that the application of the seven-step model of AAA is required in the provided case of Great Gold Limited (GGL) to provide logical course of actions. The main area of concern of this case is related with the leasing of apportion of their machinery from Big Machine Limited (BML) in spite of the fact that there is availability of other machinery suppliers in the region supplying small portion of the machineries. Apart from this, another major ethical issue can be seen due to the increase in profit under the directorship of Brent Allen related with the leasing of significant part of the machinery. In this situation, it is required for the auditor to apply the seven step model of AAA t o get recommended course of action (Yetman Yetman, 2012). Step 1: Facts Identification: This step involves in the identification of major facts with te concerned cases. In this particular situation, the major unethical case is related with the lease of large proportion of machinery to GGL by the director of the company in the presence of other small suppliers of machinery in that region (Kassem Higson, 2012). Step 2: Ethical Issues in the Case: In this AAA model, the second step involves in the identification of major ethical issues related with the provided case. Thus, based on the analysis of the provided case, an assertion can be presented that shows the motive of the director of GGL to increase the profit of BML that leads to the creation of an unethical situation (Craft, 2013). Step 3: Identification of Norms, Principles and Values Related with the Case: In the provided case, the norms, values and principles related with the directors of the company indicates towards the principle of integrity. It is the responsibility of the companies to make sure that there is compliance between corporate governance principles and ethical code of conducts while performing the business operations of these two companies. In the provided case study, the main ethical issue is related with professional integrity at the workplace. There has been major violation in the principle of integrity due to the intention of the director to increase the profit of BML with the help of significant lease of machinery. The inability of the auditors to demonstrate ethical principle and sound moral can also been seen. Thus, the director of the company has failed to act in fair, honest and ethical manner (Michels,2012). Another major ethical principle involved in this case is Due Care and Professionalism of the auditors while executing the audit procedures. It is the requirement of the director of the company to act in the most ethical manner and discharge legal duties professionally as per the ethical principle and code of conducts. Hence, the director of the company has shown an incorrect moral and ethical behavior (Michels, 2012). Step 4: Determination of Alternative Course of Action: There can be two situation in this case. In the first situation, one can simply ignore the ethical issues for director and let the profitability be increased. However, the second option demands the director not to lease the large portion of machinery to GGL (Ball, 2013). Step 5: Determination of the Best Course of Action: In this case, the best course of action according to the norms, principles and values is not to lease the significant part of the machinery to GGL. In addition, the company is required to lease the small portion of machinery as it will be majorly helpful in avoiding the occurrence of unethical situations related with profitability. This aspect will be helpful in the true and fair value of the financial statements. It needs to be mentioned that this course of action will be supported by the norms and ethical principles that will lead to the true and fair presentation of financial statements. Moreover, the auditors will be majorly accountable for making it sure that they address all the aspects that lead to the breach of ethical principles. Otherwise, it will be considered as the audit failures (Blankespoor et al., 2013). Step 6: Consequences of Courses of Action: Under the first option, the director will be continuing to lease the large portion of the machinery from BML. It will increase the profitability of the company along with the wealth of the directors. However, at the same time, the director will expose himself to the risk of the breach of ethical principle and legal risks (Michels, 2012). Under the second option, the directors will refuse to increase the profit of the company. This particular aspect will affect the relation between the auditor and the director. This particular situation will ensure that there is a violation of the ethical norms and principles. This aspect will be majorly helpful in maintaining the reputation and social standing of the auditors that will increase the confidence of the public and the stakeholders. Most importantly, the second option will be highly beneficial for the application of ethical perspectives in different aspects like the independence of the board, the protection of investor interest and many others (Michels, 2012). Step 7: The Decision: Under the model of director, it is the responsibility of the decision makers to consider the major aspects of ethical norms, principles and values while making the decisions. All these aspects will make the decision makers to make effective decisions. In this particular case, the application of the steps of AAA states that the intention of the director to increase the profit of the company with leasing is highly unethical from the part of the directors. For this reason, the director is required to be questionable in order to provide justification on the parts of accountability, transparency and appropriate governance in the business organizations. This is an important part in this model (Blankley, Hurtt MacGregor, 2012). 2.Introduction The provided case study deals with the issue of GGL related with the decrease in the prices of the shares. Moreover, there are many instances suggesting the situation that a large amount of contingent liability was included in the account of the previous year. This particular aspect contributed towards the raise of several damage claims from the part of the shareholders in the last annual meeting. At the same time, there were many opinion related to the inclusion of the large amount of contingent liability in the financial statements of the previous year for the negligence of the auditors (Vijayakumar Nagaraja, 2012). Application of Due Diligence While addressing MYH, it needs to be mentioned that the directors of the companies have the obligating to act with loyalty and professional due care. It implies that the directors are required t act in the most ethical men net for the betterment of the companies. This aspect will be largely helpful from the part of the shareholders, as it will help in increasing value of the shareholders (Munsif, Raghunandan Rama, 2012). In the provided situation of MYH, it can be said that the action of GGL is a wrong thing that can damage the wealth of the shareholders to suffer huge loss, the development of legal liability for the individual shareholders and all these aspects can lead to torturous acts. It needs to be mentioned that crimes fall under the tort law. However, there will be not be any restriction on the course of actions on the crime due to the negligence of the harm of the shareholders by the company (Munsif, Raghunandan Rama, 2012). There are some major identical duties of the directors that can also be found in other jurisdictions; more specifically, they are subject to loyalty and duty of care. Thus, it is the responsibility of the directors to act in the best ethical manner for the interest of the company and the shareholders. This can be considered as a major benefit for the shareholders in the presence of the obligation of creating value for the shareholders. In this process, the directors are required to avoid any conflict of interest (Newton et al., 2015). The violation of the standards of corporate governance can be seen from the company while deterring the duties of the auditors and the directors. In the case Australian Securities and Investments Commission v Rich, the failure of director in meeting the liability can be seen along with the failure in meeting the duty of care; and all these aspects led to the collapse of the whole organization. In this perspective, GGL has the authority to take action of tort law against MYH as the director of the companies has real intention in omitting the large contingent liability from being included in the correct accounts. This action may lead to the non-reflection of the true and fair value of the financial condition of the company (Varzaly, 2012). Compensatory Damage These negligent factors can have the ability to encourage the shareholders of GGL due to the burden to meet the debts falls on the shareholders. In case of MYH, GGL has the authority to make the claim for damage for the incurred losses. According to the laws, the damages can be compensated with the award of money to the persons who bear the loss or injury. The classification of damage can be done in punitive damage or compensatory damage. In case of GGL, the specific negligence action can lead to compensatory damage for the shareholders due to their economic losses like reduction in earning and others. For this reason, GGL can take actions against MYH due to blatant negligence actions that result in compensatory damage (Daniela Attila, 2013). In the case of Lee v Chou Wen Hsein (1948), the judgment of the Privy Council allowed the private company to have the provision of the directors for the removal of the other directors. In this situation, the removal of the directors from the office does not have any impact on the directors for claiming the breach of contract (Van Dam, 2013). On the other hand, it is the requirement of the directors for the determination of the overall response for addressing the risks by assigning and supervising the employees to take significant responsibilities of engagement. The current situation shows the failure of the auditors in considering the contingent liability in the companys book for expressing the true and fair value of the company to its shareholders and investors. Moreover, the failure of the auditors can be seen in the evaluation of accounting policies for financial reporting (Hermanson, Smith Stephens, 2012). In the provided case of GGL, the analytical process states that the unrecognized amount of contingent liability leads to the development of material missstements. For this reason, the financial statements of the company may not convey the true financial position of the company. Thus, it is the responsibility of the auditors to assess these material misstatements in order to find out that whether have been created from financial fraud. In case of GGL, there was a greater need to address omission of contingent liability for reevaluating the responses of risk assessment (Daniela Attila, 2013). For this reason, there is a need to make significant decision in respect to susceptibility of material misstatements in the financial statements due to the omission of contingent liability. Thus, based on the above discussion, GGL has the full authority to take action against MYH for tort of negligence. Negative action can lead to compensatory damage for the shareholders that can lead to major economic losses to the shareholders (Munsif, Raghunandan Rama, 2012). Conclusion Based on the whole discussion, it can be said that there is a need for the determination of the overall response for addressing the assed risks with the help of assigning and supervising necessary individuals to take significant engagement responsibilities. The responsibility of the auditors is the evaluation of various accounting policies related with the omission of contingent liability. Moreover, the involvement of the director can increase the profit of the company due to the lease of machinery. For this reason, there is a need for the application of appropriate steps of AAA with the organization. References Ball, R. (2013). Accounting informs investors and earnings management is rife: Two questionable beliefs.Accounting Horizons,27(4), 847-853. Blankespoor, E., Linsmeier, T. J., Petroni, K. R., Shakespeare, C. (2013). Fair value accounting for financial instruments: Does it improve the association between bank leverage and credit risk?.The Accounting Review,88(4), 1143-1177. Blankley, A. I., Hurtt, D. N., MacGregor, J. E. (2012). Abnormal audit fees and restatements.Auditing: A Journal of Practice Theory,31(1), 79-96. Craft, J. L. (2013). A review of the empirical ethical decision-making literature: 20042011.Journal of business ethics,117(2), 221-259. Daniela, P., Attila, T. (2013). Internal audit versus internal control and coaching.Procedia Economics and Finance,6, 694-702. Hermanson, D. R., Smith, J. L., Stephens, N. M. (2012). How effective are organizations' internal controls? Insights into specific internal control elements.Current Issues in Auditing,6(1), A31-A50. Hope, O. K., Thomas, W. B., Vyas, D. (2013). Financial reporting quality of US private and public firms.The Accounting Review,88(5), 1715-1742. Kassem, R., Higson, A. (2012). The new fraud triangle model.Journal of Emerging Trends in Economics and Management Sciences,3(3), 191. Michels, J. (2012). Do unverifiable disclosures matter? Evidence from peer-to-peer lending.The Accounting Review,87(4), 1385-1413. Michels, J. (2012). Do unverifiable disclosures matter? Evidence from peer-to-peer lending.The Accounting Review,87(4), 1385-1413. Munsif, V., Raghunandan, K., Rama, D. V. (2012). Internal control reporting and audit report lags: Further evidence.Auditing: A Journal of Practice Theory,31(3), 203-218. Newton, N. J., Persellin, J. S., Wang, D., Wilkins, M. S. (2015). Internal control opinion shopping and audit market competition.The Accounting Review,91(2), 603-623. Van Dam, C. (2013).European tort law. OUP Oxford. Varzaly, J. (2012). Protecting the authority of directors: an empirical analysis of the statutory business judgment rule.Journal of Corporate Law Studies,12(2), 429-463. Vijayakumar, A. N., Nagaraja, N. (2012). Internal Control Systems: Effectiveness of Internal Audit in Risk Management at Public Sector Enterprises.BVIMR Management Edge,5(1). Yetman, M. H., Yetman, R. J. (2012). Do donors discount low-quality accounting information?.The Accounting Review,88(3), 1041-1067