Sunday, May 24, 2020

Ethics - 972 Words

Ethics Ethics in a corporation is a matter of following the rules and conditions of the company sponsoring one for employment or doing business with different corporations. The corporations have to keep in mind that any actions or decisions they may take if for the worst to the better it will affect the company as a whole, the stakeholders, and the employees whom it involves along with other businesses that are associated with the corporation. It is mainly the social responsibility of the corporations to make such decisive actions toward the company. Ethics and Social Responsibility in Strategic Planning Ethics and social responsibility are similarities to one another in different scenarios†¦show more content†¦Enron’s $63.4 billion in assets made it the largest company in the United States to file against bankruptcy. The unethical decision made by just a few people lead to the company’s shutdown, the U.S. market in a loop whole, and thousands of employees w ithout jobs. The preventative measures that should have been taken in this place is to periodically make audits to these large type of corporations and keep going back to the companies ethical essence. The hidden revenues and assets that the company tried to hide by pretending not to care is costing the U.S. markets until this day. The government officials should have kept an eye on the shares when they dropped and when they increased all of the sudden to see where the company withholds with the losses. It is already unethical to go ahead and make those mistakes but hiding and covering up for them is even worse. Conclusion In conclusion, a corporation’s ability to abide by the rules and regulations created by the company is a company’s duty to fulfill. It is important to know the roles and strategic planning of ethics and social responsibilities of a corporation in case of future when action may be needed. Companies like Enron have destructed the markets with th eir unethical and unrealistic social responsibilities not only for the company and its employees but also for the whole United States marketShow MoreRelatedEthics And Ethics : Ethics922 Words   |  4 Pagesand friend group to be altered. One change I was not anticipating making was my approach to ethics. Over the course of the past fifteen weeks, my knowledge of ethics as well as my approach to ethics has changed. I have become more knowledgeable about the different approaches to ethics and have gained insight as to where I stand in my approach to ethics. One thing that has changed in my approach to ethics since the beginning of the semester is I am now adamant that it is impossible to arrive at aRead MoreEthics : Ethics And Ethics Essay1578 Words   |  7 Pages†¢ Define ethics. Ethics is defined as the moral principles and standards that guide the behavior of an individual or group, while business ethics refers to said behavior in the work environment. Great leaders demonstrate and practice this both personally and professionally. With today’s constant media coverage of unethical decisions and their violators, it can be easy for many to people to assume that ethics codes are â€Å"just for show†. A prime example of the unethical culture that exists in businessRead MoreEthics : Ethics And Ethics851 Words   |  4 PagesJohn Berger who stated, â€Å"Without ethics, man has no future. This is to say, mankind without them cannot be itself. Ethics determine choices and actions and suggest difficult priorities† (Berger). His meaning behind that quote is simple. In this world is there a right and a wrong way of doing something? In this world, ethics determines our actions and the consequences that come about those actions, determining right and wrong. The real question is however, are Ethics black and white? Is what is â€Å"right†Read MoreEthics : Ethics And Ethics955 Words   |  4 PagesIntroduction: Ethics is a key moral philosophy that helps us determine what is right and wrong. This paper will talk about my views on ethics. I will share personal examples of ethical situations that I have been in. I will also share where my ethical views originated from and why ethics is important to me. Next, I will discuss how ethics will affect my career and why it will be important in it. Lastly, I will talk about the importance of ethics in the global world. Personal: In my opinion ethics is a moralRead MoreEthics And The Ethics Of Ethics929 Words   |  4 Pages Ethics Nurse’s Before all parties involved can begin a working relationship, each individual should discuss and obtain a written description of the duties expected and the code of ethics that should be respected and followed; by beginning with a clear understanding of ethical values. Ethics: the study of right and wrong and how to tell the difference between them. Since ethics also means people s beliefs about right and wrong behavior, ethics can be defined as the study of ethics. EthicsRead MoreEthics : Ethics And Ethics1569 Words   |  7 Pages Ethics In Nursing Rayda M. Garcia Fairleigh Dickinson Universityâ€Æ' Ethics In Nursing The study of ethics, or applied ethics, is necessary for healthcare professionals who often face dilemmas that are not experienced by the general population. The fast-paced growth of medical technology has made the study of ethics even more relevant. The study of bioethics, or biomedical ethics, refers to moral dilemmas due to advances in medicine and medical research. Since medical law and ethics are oftenRead MoreEthics And Ethics Of Ethics775 Words   |  4 Pagesmillion to settle a shareholder lawsuit. We can refer from the two previous examples that ethics education is crucial. The main reason for ethics education is that ethics courses and training would help students, who are going to become future managers and business decision makers, to resolve such ethical dilemmas correctly. As we know that most dilemmas often have multiple decision criteria. Business ethics classes would help students to realize which decision criteria lead to a preference for aRead MoreEthics And Ethics Of Ethics Essay1491 Words   |  6 Pagesemployees that the work place ethics code forbids using work-place resources for personal financial profit. To make ethically right decision in this ethical dilemma, I will focus on the philosophers’ standpoint and reasoning of ethics of care, ethics of justice, utilitarian ethics and universal principle to analyze the situation. In this tough situation, my conclusion is that I will not report this action to the higher authority although she is violating wor k place ethics code. I will provide my reasoningRead MoreEthics : Ethics And Ethics1485 Words   |  6 Pages Ethics is a concept derived from an individual’s religion, philosophies or culture, forming a collection of moral principles carrying out the manner in which a person leads their life. In modern society philosophers divide ethical theories into three separate areas, meta-ethics, normative ethics and applied ethics. Meta-ethics refer to the origins and meanings of ethical principles, dealing with the nature of moral judgement. Normative ethics refers to what is right and wrong and concerned withRead MoreEthics And Ethics Of Ethics987 Words   |  4 PagesEthics affect every facet of life, especially in a professional community. When a decision is to be made within a community, the ethical decision is typically that which benefits the most people or harms the least people. There are some scenarios however, when the correct decision based on a system of ethics that values doing the right thing is not the decision that leaves behind the least negative impact on the organization. An organization must decide if it will follow the system of ethics that

Thursday, May 14, 2020

How Social Networking Sites Have Become Powerful Tools For...

Social media websites have become powerful tools for recruitment and hiring in many organizations. Some organizations rely on these networks to attract and screen talent. According to Davison and Maraist (2011), â€Å"A recent survey by the Society for Human Resource Management reported that in 2006, only 21% of organizations had used social networking sites as an HR tool, but in 2008, 44% had used social networking sites for HR†¦the same survey reported that 34% of organizations currently use social networking sites to recruit or contact potential applicants, and 19% plan to in the future† (Davison, Maraist, Bing, 2011). The internet overwhelmingly affects how business is conducted in the world today, mostly appealing college graduates.†¦show more content†¦Here are the main social networking sites and a brief summary of each site. Myspace is the oldest of the social networking sites and although at one point it was the most popular of the sites its use has sin ce declined. According to Chauhan, Buckley, and Harvey (2013), Myspace was the first widely recognized social networking site and currently has approximately 25 million users. The authors explain Myspace’s decline as being attributed to lack of innovation and particular focus towards music, entertainment, and customization of the user’s profile. Using Myspace for recruiting purposes would not be recommended for your day to day recruiting purposes because of the informality of the content, unless one was recruiting for the entertainment business then it would likely benefit the recruiter because they are able to get a clear depiction of the user by how they market themselves and how they interact with the public and their fans. Facebook was created soon after and completely took over, â€Å"Facebook.com is the world’s most frequently visited website in the world† (Chauhan, Buckley, Harvey, 2013). Facebook alike Myspace, LinkedIn, and twitter allows users to create a personal profile that displays information about themselves. On Facebook users can share information about their education, work experience, birthdate, contact information, hobbies, interests, political

Wednesday, May 6, 2020

The Importance of Donating Blood - 1437 Words

The Importance of Donating Blood ATTENTION: I’d like to ask you to completely clear your mind for a moment. Now, imagine your father has just suffered a heart attack and must undergo open-heart surgery in order to repair the damage. Imagine your little nephew or niece was born with a heart defect and required daily transfusions of blood in order to have a chance at survival. Imagine your best friend has just been diagnosed with leukemia, a disease requiring regular transfusions of platelets. These images can seem a bit haunting, but events like these do happen and unfortunately some of you may even have experienced them already. Naturally youd hope and expect the hospital to have enough resources to facilitate the return to health, or†¦show more content†¦Here the organization attracts blood doners because it creates familiarity and therefore comfort as well as increasing the willingness to help. Blood drives done along the paths of everyday life such as at school and work help potential doners, whether retu rning or newcomers, to feel as it is less out of the way of their â€Å"busy schedule† and therefore more likely to attend. Students in high school are persuaded by free t-shirts and simply the knowledge of a free snack afterwards. TRANSITION: With those simple solutions left fresh on your mind, let me point out the repercussions of the many that are strongly affected the longer we postpone making a larger effort to give blood. III.VISUALIZATION: The main objective of giving blood is to help those who will eventually die without it. Specifically, this includes more than 1 million new people are diagnosed with cancer each year, as well as the 80,000 people with sickle cell anemia in America mentioned on www.redcrossblood.org. There are other examples such as when the country is at war, many of our soldiers lose a great deal of blood, donations could have worked to save the life of one of the men and women that are fighting for our country. Blood is also used during operations that cause a lot of blood loss or accidents where a person has lost a great deal of blood. There are people who need these transfusions every day who would be forced to continue to go without what they need toShow MoreRelated The Importance of Donating Blood Essay1578 Words   |  7 PagesThe Importance of Donating Blood The birth of Chase changed our lives forever. We were not sure if we were able to have children and after 5 years of trying with not avail, Chase was born. He was 5 lbs. and 8 oz. He was so tiny and fragile, but the love we had for our son was enormous. When Chase turned five months old, the doctors told us that he had leukemia. They said it would take a miracle for him to see his 1st birthday. We as parents did not know what to do or who to turn for to helpRead MoreHow to Give a Successful Donation of Blood Essay814 Words   |  4 PagesBlood, that red life fluid involved with the creation of life, it is quite common yet not everybody has enough. As a good citizen, it is your responsibility to give what others need for life. The Red Cross has regular donation times and travels around to schools, offices, and cities quite often. Giving blood may be scary for some, but in time this will pass. There are a few things you can do to make your first time giving blood easier on your m ind and body. Blood is a liquid that is supplementedRead MoreImportance of Blood Donation Essay709 Words   |  3 PagesI want to talk to you about the importance of donating blood. Some of you may know a friend or even a family member who has received blood at some time. I for one have received blood and I often wonder who took the time to donate it. According to the Journal of American Medical Association, it is noted that just 1 pint of blood can save three lives. Why You Should Give Giving blood does not just benefit recipients. Regardless of age, donating blood offers many benefits for donors. It lets you: Read MoreDefinitions For Blood Donation746 Words   |  3 Pagesstudy for the blood donation. Males appeared more willing to donate blood than females, but most respondents in each race-gender group were willing to donate except for black females. The donation for cadaveric organs, most white respondents had identified themselves as organ donors on their driver’s licenses or donor cards, whereas less than most black persons had identified themselves as donors. The factors explaining race and gender disparities in willingness to donate for blood donation adjustmentRead MoreThe Medical Technician On The Ambulance977 Words   |  4 PagesAccording to the American Red Cross website, by donating blood, you can save up to three lives! Going into Occupational Therapy, I work with many patients who have undergone traumatic injury. Many of them would not be h ere today if it weren’t for blood transfusions. I know the importance of donating blood and today, I would like to inform you about blood donation and convince you to donate blood before the summer comes to an end. I will tell you how donating blood can benefit the recipient, explain whatRead MoreBlood Shortage And Fda Policy Limitations Essay1448 Words   |  6 PagesBlood Shortage and FDA Policy Limitations Our nation has a major blood shortage which results in a national health crisis. States all over the nation are reporting the need for blood donors and the importance of having donors to help those who are directly affected. There has been a recent rise in shortage due to the increased demand of high complex surgeries which require a large supply of blood. McMillan reports, â€Å"just one liver transplant can take 120 units of donated blood† (Zabarenko, 2016)Read MoreCause and Effect Analysis: Advertising for Blood Donation1188 Words   |  5 Pageseffects of advertising for blood donation Introduction To encourage people to donate blood, there is need to advertise and make people understand the effects of blood donation. Advertising encourages people to donate blood and can also be used as a reminder. Donating blood ensures that there is enough blood in the blood banks, in case of an emergency blood requirement. Showing people that by them donating blood they could be saving a life will encourage people to donate blood more frequently. This paperRead MoreDonating Blood Saves Lives. The Canadian Blood Services1592 Words   |  7 PagesDonating blood saves lives. The Canadian Blood Services was established in 1988, and is the regulator and collector of blood donations across the country to be used for surgeries, leukemia treatment, accidents, and anemia to name a few (Canadian Blood Services, 2017g, CBC News, 2013). Under the Canadian Blood Services they have strict guidelines as to who can donate, and how often which is continuously changing to ensure safety of both donors and pot ential recipients. However, over the past numberRead MoreBanning Blood Donation Process ( Mcadam Parker )1597 Words   |  7 PagesA thirty year old ban on homosexuals from donating blood has been lifted but not entirely abolished by FDA. It has taken tremendous efforts and time to end the discrimination against homosexual men to donate blood in United States. Since 1977, FDA had disqualified homosexual men or any man who had sex with another man even once from donating blood. This was due to the unreasonable and unfounded fear of contracting and transmitting HIV/AIDS. There was not enough information available from the governmentRead Moreinformative speech BLOOD DONATION Essay702 Words   |  3 Pagesneed of blood? So technically every 2 second you have the chance to save a life. Have you ever dreamed for one second of saving someone’s life? Have you ever said: ‘I want to be a hero? Well ladies and gentlemen, today I bring you an easy way to check this task off your bucket list. It’s called: BLOOD DONATION. I am going to show you today the importance of blood donation on your body but first I am going to tell you if you are eligible to donate. As you all know there are different blood types.

Tuesday, May 5, 2020

Influence Triage Environment In Emergency â€Myassignmenthelp.Com

Question: Discuss About The Influence Triage Environment In Emergency? Answer: Introducation The critical evaluation of the qualitative study on the effect of emergency department (ED) triage environment on the triage practices for mentally-ill clients: in Australia was done. This critical appraisal report will judge both the positive and negative aspects of this study (Merriam-Webster, 2015). This article was published in the Australasian-Emergency Nursing- Journal(AENJ) which is an official journal of the CENA (College of Emergency- Nursing Australasia). AENJ (2017) provides the best emergency practices available for the clients, particularly mentally-ill clients to the emergency nurses by giving them higher-quality evidence that are relevant to their contemporary-practice. AENJ is an international-peer reviewed journal and is a conduit for research with impact score: 1.26, CiteScore:1.27, Source-Normalized Impact/Paper:0.897 and SCImago Journal-Rank:0.594 which has motivated me to select an article published in this journal to critically appraise (Shaban, 2017). AENJ is p ublished by the Emergency-Nurses Association of CENA of New South-Wales: Elsevier-Ltd. The authors Broadbent from Sunshine Coast-University; Moxham from Wollongong-University and Dwyer from Central-Queenslands University are the experts in the emergency-mental health department of Australia. As they are registered nurses in ED of regional-hospital, this study will be of higher value and hence this study has been selected to critically appraise so as to utilize these findings in practice. Background/aims They have given an elaborate and detailed background about the study (Boswell, n. d.). They have given a clear definition for practice environment in ED which forms the base for their study as the environment in which the people as well as physical architecture in a healthcare setting. They have given that there is a continuous increase in the number of mentally- ill client in ED of Australia which suggests the importance of determining the triage ED services to promote client care. They have given a detailed statistics about the prevalence of mental- illness in Australia with percentage of ED cases which is adequate. A review of literature is a clear summary of the research-study in which the researcher is interested (Polit, 2016). The literature review should be clear, well-organized, concise and summarized (Houser, 2011) which is evident in the study. The researchers have given all the literatures in a logical, systematic, organized and sequential fashion (Greenhalgh, 2010). They have described all the related articles in an unbiased manner by explaining the all the needed requirements appropriately. They have quoted current, relevant and appropriate studies with correct in-text citations except few old studies. Though the older studies may help to generalize the results, they may increase the chance of bias. They have mentioned about their need for the study by describing that they are intended to explore the problems associated with practicing in an ED environment with a clear focus on the assessment with management of mentally-ill clients is appropriate. As, ED triage-nurses have a greater role in performing triage assessment, the result of this study will help them to rule-out any discrepancies and improve their care. The ED triage-nurses should create a therapeutic- environment to provide client care but due to lack of appropriate studies makes them difficult to practice. Hence this study will help them to improve quality of ED-care. The aim of this study is to investigate the influence of triaging ED-environment on the ED-triage practice of nurses in mentally- ill clients which is clear and achievable (Polit, 2016). Research methods According to Polit (2016), research-methods are the techniques that are employed by a researcher in structuring the research-study as well as in gathering and analysing the collected data in a systematic-fashion (Boswell, n. d.). It is evident from their way of structuring the study by adapting appropriate research methods and discussing in the text sequentially. A research-design is the overall-plan that is framed to address the research question that includes specifications for promoting the integrity of the research-study (Panneerselvam, 2014). In this study, qualitative design was employed which involves investigating the phenomena in a holistic, sequential, and in-depth fashion (Yin, 2015, Grossoehme, 2013). Ethnographic design was utilized to observe as well as analyze the emergency-care practices of ED-nurses in triaging mentally-ill clients with the analysis of the impact of triage-environment in the ED. As, ethnography involves exploring the cultural-influences of clinical-b ased practice in the practice environment, it best suits this study as it explores the emergency nursing-care in ED environment and also adds value to the clear understanding of the ED practice (Cooper, 2009). This study follows the findings of a larger (observational) ethnographic study which has determined the relationship of the triage staff-nurses with the specialized mental-health triage staff-nurses. Highly consistent with the research-methodology, the time period of 8 weeks that is spent in collecting data in ED regarding triage-practice is highly adequate. Reflexivity is the critical self-reflection about ones own biases, preferences as well as preconceptions (Polit, 2016). It is evident from the study that they have clearly introspected into their research problem and have reflected about their design adequately to enhance the quality of study. The target-population is the entire set of population where the researcher is collecting data and generalizing the results (Moule, 2013). In this study, they have selected appropriate group of triage ED-nurses caring mentally-ill clients; reported in ED of a hospital in regional-Australia. A sample is a group of population who are selected to participate in the study (Houser,2011). Their sampling process that involves selecting a portion of population from a target population is adequate (Moule, 2013). They have used purposive (judgmental) sampling which is a non-probability method that involves selecting samples based on the researchers personal judgment about participants. They have selected 28 ED triage-nurses who have been trained about triage-practices for mentally-ill clients; assigned in shifts. The sample-size of 28 is adequate for a qualitative study in which the sample-size is usually smaller and focused. Sample-size is calculated by power analysis to avoid sampling-errors which is not evident in this study. The research- setting is the physical-location with conditions where the collection of data takes. This study was conducted in regional Australian-hospital that is the largest ED that receives more than 44,000 clients/year including 4 and % of mentally-ill clients. They have sufficiently described the sample and research setting. Data-collection process is the formal procedure that is developed to guide collection of data in a systematic fashion (Polit, 2016). In this study, data was collected by participant observation; formal as well as informal semi-structured interviews that are conducted with triage ED-nurses, review of case-documents with collation of the field- notes. Participant-observation, which is a core-aspect in an ethnographic study with the observer herself being the study-participant, clearly reflects the technique adopted in this study. For this purpose, the researchers have interacted with the study-participants directly in face-to-face manner to gather data. They have conducted interviews with 28 ED triage-nurses who were assigned at triage work. They have not interviewed any clients who have presented to triage. Moreover, they have observed the nurse-patient interaction only to rule-out the influence of the triage-environment of ED on the triage ED-nurses practice. Interviewing is the best method as it provides an opportunity to the researcher to contextualize the data appropriately (Houser, 2011). Totally, they have conducted 2 individual and 10 group interviews with the triage ED-nurses. They have tape-recorded the interviews and they transcribed verbatim before data-analysis to minimize bias. These strategies of data collection appear to enhance trustworthiness of this study. Overall, the data collection and recoding processes appear adequate. They have got ethical clearance from two human-research ethical-committees and also obtained written-consent from the participants. Data-analysis Data-analysis involves systematic and comprehensive organization and synthesis of research-data (Polit, 2016). Thompson (2010) states that this analysis as an eclectic-process in which the collected data were organized and interpreted to discover underlying facts. The tape-recorded notes of interviews as well as observations were articulated into categories in such a way that their meanings could be easily understood. The comparative (constant) method that was given by Polit (2016) on strategies for a qualitative study was employed to analyze the information collected at the time of field-work. This method that was involved in analyzing the individual aspects of the information as well as comparing these informations with other aspects of information (data) by utilizing constant comparative method with theoretical-method of coding was adapted by the researchers independently of each other and was also compared to rule-out consistency and hence minimizes bias. They have drawn the mean ing from the collected information and have developed concepts with categories which were analyzed by examining appropriate literature. Their categories include triage environment, triage assessment and client management. They have found that an acoustic-phenomenon (noise-creep) (Field, 2008) reduces the ability to conduct a conversation in-spite of gathering personal details by the clerk and triage ED-nurse. Triage environment is like a public area in which the triage ED-nurses is not controlling the movement of staffs particularly in initial assessment-area whereas the triage ED-nurses specified that there is no control in the movement of clients; admitted for care in ED as well as the clients and families present in the waiting area, contributes to a very-busy and noisy assessment area. In-regard to triage assessment, it was noted that lack of privacy due to increased movement of staffs (wards-men) makes the assessment problematic. Their field observations suggest that the triage ED-nurses have felt to provide a separate and quite private space for mentally- ill clients to enable appropriate client assessment. Moreover, privacy and confidentiality should be maintained in a triage environment, which is also expected by the mentally- ill clients. The waiting room dynamics should be effectively managed so as provide a therapeutic landscape for the clients (Field, 2008). They also recommend providing a calm and safe area for clients having distress, manifesting features of agitation or clients requiring privacy. They have summarized the findings with supporting arguments. The categories capture the meaning of data adequately and the researchers have also conceptualized the categories clearly. Overall, the data- analysis has yielded provocative evidence that the triage environment in the ED affects the triage practices of mentally-ill clients adversely. Summary conclusion Triage ED-nurses working in ED will be busy in assessing the clients, accessing equipments and human-resources management in-order to enable quick decision-making and manage waiting rooms. As, ED triage-area has a impact on the behavior of client and the ability to provide patient-care and to perform triage assessment, they have to be controlled to improve quality-of-care. This is evident from the current study which suggests that the triage environment, particular lack of privacy and confidentiality and busy environment affects the triage practice for mentallyill clients in an emergency environment which is supported by Foureur (2010) and Olsen (2008). They also recommend that extensive studies should be proposed to study the ED-triage waiting-room design, patients ED-triage experience and by involving the triage nurses and ED users. Relevance to nursing practice Healthcare personnel should continuously work to draw solutions and find choices for better client outcome (Douglas, 2012). Various studies should be appraised to develop best evidences available (Aveyard, 2010). The health-care specifically for mentally-ill clients should follow all the ethical principles as beneficence, respect, maleficence, justice and trust-worthiness (Polit, 2016). Moreover, the healthcare professionals who are the frontline workers should provide care by following the contemporary practices to all the patients; irrespective of caste, creed or race; in all the healthcare settings, to all the age without discrimination (ANA, 2010, ICN, 2010). The triage practice in ED along with the management of patients having mental- illness those waiting in a larger public place is of a greater challenge for all the triage ED-nurses. This study finding will help the ED-triage nurses to understand that the ED triage practices are greatly influenced by a number of factors such as lack of privacy, lack of confidentiality, noisy and busy environment. This study will help to promote patient values by disseminating that the noisy and busy triage environment affects the client assessment and triage practice which will definitely in-turn make the Government and the administration to make alterations in physical setup of ED and waiting room and in managing external physical sources and providing a safe and private place for clients. Strathmann (2009) stated that the caring for mentally-ill clients begins even before a physician attends. So, it is the ED-nurses responsibility to provide safer environment which is a routine nursing care and also in ED areas where it is regarded as an essential skill (Andrews, 2008). Long (2011) suggested that the environment where care is rendered has a greater impact on the outcomes with behavior of clients, specifically in mentally-ill clients. Nurses who are considered as the therapeutic builders have a role in restoring, rejuvenating and wellbeing (Andrews, 2009). Morphet (2012) has also discussed about the methods of promoting the ED-triage environment that includes providing specialized mental-health triaging-area, improving nurse-client relationship for mentally-ill clients is appropriate. Nurses working in ED triage-area are cognizant of the impact of environment on the client assessment. Hence, these research-findings will make the ED nurses to understand the effect of tr iage environment on ED-triage practice of mentally-ill clients and help them to modify ED environment accordingly. Reference AENJ. (2017). Australasian Emergency Nursing Journal: College of Emergency Nursing Australasia. Retrieved from https://www.aenj.com.au/content/aims ANA. (2010). Nursing: Scope and Standards of Practice. American Nurses Association. Silver Spring, Maryland. Andrews, G Shaw, D. (2008). Clinical geography: nursing practice and the (re) making of space: J Nurs Manag. 16:46373. Aveyard, H. (2010).Doing a literature review in health and social care: a practical guide (second edition). Open University Press: Berkshire, England. Boswell, C. (n. d). Chapter14: The research critique process and the evidence based appraisal process. Retrieved from https://samples.jbpub.com/9781284079654/9781284108958_CH14_Pass03.pdf Cooper, S et al. (2009). Qualitative research: specific designs for qualitative research in emergency care: Emerg MedJ. 26:7736.21 Field, C. (2008). Acoustic design in green buildings. ASHRAE J. 50(9):6070.28 ISSN:1574-6267 Foureur, M et al. (2010). The relationship between birth unit design and a safe,satisfying birth: developing a hypothetical model: Midwifery. 26(5):5205.35. Greenhalgh, T. (2010).How to read a paper: the basics of evidence-based medicine. (4th ed.). Wiley-Blackwell/BMJ Books: Oxford. Grossoehme, D.H et al. (2013). "I honestly believe God keeps me healthy so I can take care of my child: Parental use of faith related to treatment adherence:Journal of Health Care Chaplaincy.19(2):6678.doi: 10.1080/08854726.2013.779540. Houser, J. (2011). Nursing Research. Retrieved form https://books.google.co.in/books?isbn=1449677444 ICN. (2010). The ICN definition of Nursing. Retrieved from https://www.ich.in/definition.htm Long, C.G et al. (2011). Architectural change and effects on the perceptions of the ward environment in a medium secure unit for women: Br J Forensic Pract. 13(3):20512.33 Merriam-Webster. (2015). Critique. Retrieved from https: www//learners dictionary.com/search/ Critique Morphet, J et al. (2012). Managing people with mental health presentations in emergency departments a service exploration of the issues surrounding responsiveness from a mental health care consumer and carer perspective: Aust Emerg Nurs J. 15(3):14855 Moule, P Goodman, M.(2013).Nursing Research: An Introduction. Retrieved from https://books.google.co.in/books?isbn=1446293521 Olsen, J.C et al. (2008). Emergency department design and patient perceptions of privacy and confidentiality: J Emerg Med. 35(3):31720. Panneerselvam, R. (2014). Research Methodology. Retrieved from https://books.google.co.in/books?isbn=8120349466 Polit, D.F Beck, C.T. (2016). Nursing Research: Generating and assessing evidence for nursing practice. Lippincott Williams Wilkins: New Delhi. Shaban, R. (2017). Australasian Emergency Nursing Journal. Retrieved from https://www.journals.elsevier.com/australasian-emergency-nursing-journal Strathmann, C Hay, M.C. (2009). Working the waiting room: managing fear, hope, and rage at the clinic gate: Med Anthropol. 28(3):21234. Thomson, D. (2010). The social meaning and function of humour in phys-iotherapy practice: an ethnography: Physiother Theory Pract. 26(1):111.25 Yin, R.K. (2015). Qualitative Research from Start to Finish. Retrieved from https://books.google.co.in/books?isbn=1462521347

Saturday, April 4, 2020

Financial Management Strategies for Retail Industry in India-a Case Study of Retail Scenario in Hyderabad and Secunderabad free essay sample

FINANCIAL MANAGEMENT STRATEGIES FOR CORPORATE RETAIL INDUSTRY IN INDIA-A CASE STUDY OF RETAIL SCENARIO IN HYDERABAD AND SECUNDERABAD SYNOPSIS IINTRODUCTION: (1) Retail Industry in India The Indian retail industry is the largest among all the industries, accounting for over 10 per cent of the country’s GDP and around 8 per cent of the employment. The retail industry in India has come forth as one of the most dynamic and fast paced industries with several players entering the market. But all of them have not yet tasted success because of the heavy initial investments that are required to break even and compete with other companies. The Indian retail industry is gradually inching its way towards becoming the next boom industry. A large young working population with median age of 24 years, nuclear families in urban areas, along with increasing working-women population and emerging opportunities in the services sector are going to be the key factors in the booming growth of the organized retail sector in India. We will write a custom essay sample on Financial Management Strategies for Retail Industry in India-a Case Study of Retail Scenario in Hyderabad and Secunderabad or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page The growth pattern in organized retailing and in the consumption made by the Indian population will follow a rising graph helping the newer businessmen to enter the Indian retail industry. In India the vast middle class and its almost untapped retail market are the key attractive forces for global retail giants wanting to enter into newer markets, which in turn will help the retail industry in India to grow faster. As per a McKinsey report, Indias overall retail sector is expected to rise to US$ 833 billion by 2013 and to US$ 1. trillion by 2018, at a compound annual growth rate (CAGR) of 10 per cent. As a democratic country with high growth rates, consumer spending has risen sharply as the youth population (more than 33 percent of the country is below the age of 15) has seen a significant increase in its disposable income. Consumer spending rose an impressive 75 per cent in the past four years alone. Also, organised retail, which accounts for almost 5 per cent of the market, is exp ected to grow at a CAGR of 40 per cent from US$ 20 billion in 2007 to US$ 107 billion by 2013. According to the Investment Commission of India, the overall retail market is expected to grow from US$ 262 billion to about US$ 1065 billion by 2016, with organised retail at US$ 165 billion (approximately 15. 5 per cent of total retail sales). India is expected to be among the top 5 retail markets in the world in 10 years. The future of the retail industry in India looks promising with the growing of the market, with the government policies becoming more favorable and the emerging technologies facilitating better operational efficiencies.. (2) Retail Scenario in Hyderabad and Secunderabad Retail forms a large part of the business sector in Hyderabad and Secunderabad both in terms of establishments and employment . The burgeoning retail outlets in Hyderabad and Secunderabad are evidence of the immense potential that these twin cities offer for business. The emergence of Hyderabad as the preferred destination for the IT and ITES industry in recent times has brought with itself the cascading effect on other industries like retail and real estate. Big corporates like the Mukesh Ambani led Reliance Industries, the Kishore Biyani led Future group etc. ave made substantial investements and are ready to invest more in the Hyderabad retail industry. The retailing industry in Hyderabad has come into big Shopping Malls, and huge departmental stores and retail chains like Big Bazaar, Shopper Stop, and Metro, Hyper Mart etc.. The employment opportunities in Hyderabad retail are highly increased, and have good financial rewards also. In the next two years thousands of jobs will be generated in this sector. Innovative retail formats like Integrated retailing, retail cum entertainment is booming at a great pace in the Hyderabad city, e. . , Big Bazar combines with Big Cinemas, Hyderabad Central with PVR Cinemas and GVK Mall with INOX etc. Overall, the Hyderabad retail business sector has large opportunities for prospective business houses. With the retail sector generating fair profits in Hyderabad and Secunderabad, it would be beneficial for investors to tap it exactly in the manner in which they want. (3) Impact of the Retail Industry on the social and economic environment The boom in the Indian retail sector has impacted a change in the lifestyle of the Indian consumers drastically. The evident ncrease in consumerist activity is colossal and this has already created a money making recess for the Indian organized retail sector. What’s more, this growth trend in retail industry in India is not just a steady one but also one that is displaying exponentia l characteristics. With the onset of a globalized economy in India, the Indian consumers psyche has been changed. People have become aware of the value of money. Nowadays the Indian consumers are well versed with the concepts about quality of products and services. These demands are the visible impacts of the Indian organized retail sector. The social changes with the rapid economic growth due to trained personnel, fast modernization, enhanced availableness of retail space are the positive effects of liberalization. The growth factors of organized retail in India are:- †¢Increase in per capita income which in turn increases the household consumption †¢Demographical changes and improvements in the standard of living †¢Change in patterns of consumption and availability of low-cost consumer credit †¢Improvements in infrastructure and enhanced availability of retail space †¢Entry to various sources of financing The non-food sector, segments comprising apparel, accessories, fashion, lifestyle products felt the significant change with the emergence of new stores formats like convenience stores, mini marts, mini supermarkets, large supermarkets, and hyper marts. Even food retailing has become an important retail business in the national arena, with large format retail stores, establishing stores all over India.. India will be a unique business arena in the whole of the global economy, for the social and economic parameters that would overrule the big bang of the vivid competition. (4) Financial Management Taking a commercial business as the most common organisational structure, the key objectives of financial management would be to: †¢ Create wealth for the business †¢ Generate cash, and †¢ Provide an adequate return on investment bearing in mind the risks that the business is taking and the resources invested. There are three key elements to the process of financial management: (a) Financial Planning Management needs to ensure that enough funding is available at the right time to meet the needs of the business. In the short term, funding may be needed to invest in equipment and stocks, pay employees and fund sales made on credit. In the medium and long term, funding may be required for significant additions to the productive capacity of the business or to make acquisitions. (b) Financial Control Financial control is a critically important activity to help the business ensure that the business is meeting its objectives. Financial control addresses questions such as: †¢ Are assets being used efficiently? †¢ Are the business’ assets secure? †¢ Does management act in the best interest of shareholders and in accordance with business rules? (c) Financial Decision-making The key aspects of financial decision-making relate to investment, financing and dividends: †¢ Investments must be financed in some way – however there are always financing alternatives that can be considered. For example it is possible to raise finance from selling new shares, borrowing from banks or taking credit from suppliers †¢ A key financing decision is whether profits earned by the business should be retained rather than distributed to shareholders via dividends. If dividends are too high, the business may be starved of funding to reinvest in growing revenues and profits further. Finance which acts as the lifeblood in the modern business types is one of the most important considerations for an entrepreneur-company. While implementing, expanding, diversifying, modernizing or rehabilitating any project the meaning of finance is better understood. From an organizational point of view, the process of financial management is associated with financial planning and financial control. Financial planning seeks to quantify various financial resources available and plan the size and timing of expenditures. Financial control refers to monitoring cash flow. Inflow is he amount of money coming into a particular company, while outflow is a record of the expenditure being made by the company. Managing this movement of funds in relation to the budget is essential for a business FINANCIAL MANAGEMENT AND THE RETAIL INDUSTRY Financial performance is vital to competitive success. It is a factor that can either enhance the competitive standing of the company or lead it to destruct ion. Businesses are ultimately judged on their ability to perform financially. Domestic growth, international expansion, strategic repositioning, are the strategic decisions to be taken. But each of these is punctuated by the need to generate corresponding financial returns. Understanding the drivers of financial performance, their roots, and causes is a must for sound retail management. As retailing is an intensely cash generative business, an important characteristic of any retail operation is the ability to recycle cash received from sales. Generally in any cash conversion cycle, the interaction between the three components of cash tied up in inventory, cash tied up in receivables and payables is examined. However in the retail industry, cash from receivables is not a concern since most of the sales are made in cash. Hence the cash conversion cycle in a retail setup is a result of the interaction between the cash tied up in inventory and the payables. While payables can be predicted easily, the challenge lies in minimization of the inventory to cash conversion cycle. This requires constant monitoring of the amount blocked in inventories. A major component of the retail balance sheet is inventory and the industry average for the retail sector is 27% of the total assets. The Retail sector thus has a peculiarity in its fund requirement since there is a greater need for short term finance rather than long term or medium term finance. Another large component is the property, plant and equipment. Usage of the retail space in the most effective and profitable manner is what sets apart a successful retailer. This is the reason why the profit per square foot is regarded as an important measure of performance evaluation of a retail outlet. Managing a retail business is a little like riding a bike—there are going to be strenuous uphills, effortless but hazardous downhills and demanding stretches in between. How this ride is handled is based on the ability to keep the wheels moving by combining judicious pedaling with knowing when to shift gears quickly and skillfully while maintaining balance. If we compare a retail business to the two wheels of a bicycle, one wheel is the sales wheel and the other one is the working capital wheel. Financial management in the retail sector is the art of achieving perfect co-ordination between the two so that the ride is smooth and the organization can move ahead. FINANCIAL MANAGEMENT STRATEGIES-CONSIDERATIONS Financial strategy, as a functional strategy, is subject to the overall corporate strategy. Therefore, financial strategy includes profit distribution strategy, investment strategy, financing strategy and legal relations strategy. The strategy must accommodate the interests and needs of company owners, management and customers as much as possible. Since these interests differ from company to company, the financial strategy too differs. The considerations for framing a financial strategy are as under: a)Analysis of the external environment of the company )Key stakeholders’ expectations and objectives related to the company c)Analysis of internal environment of the company d)Analysis of the company’s customers e)Analysis of the company’s competitors f)Analysis of the company’s resources g)Analysis of the company’s suppliers h)Analysis of the functional strategy of the company i)Marketing RD IS/IT strategy II NEED FOR THE STUDY There have been a lo t of players who have crafted the Indian retail success story, and a few that have closed or closing their shop. There is thus an absolute need for research in the field of financial management strategies, and to formulate informed suggestions for Improvements and cautions for the retail industry in India. The booming retail business is attracting a number of corporate players from within India and also those from outside India. This would involve a huge investment by the corporate players and a wrong strategy would lead to erosion of capital and loss of employment. The performance of the successful players is lending credence to the growth figures projected as per the above studies. Reliance Retail has set up 700-plus stores in the past two years, almost at the rate of one store per day, Future Group has begun opening a new no-frills discount retail chain called KB’s Fair Price Stores, a format that is similar in concept to Subhiksha stores. Reliance’s food and grocery format Reliance Fresh on the other hand is high-end in terms of display, ambience and size. However in the midst of the success stories of the Big Bazaars, Reliances and the Walmarts, we have the case of a home-grown ‘Subhiksha’ which went sour. If the reasons for the downturn in Subhiksha were analysed, what starkly stands out is that poor funds management was responsible for bringing down the organisation. It is thus evident that financial management is the crux of retail business. Since the retail sector is fast expanding and highly competitive, there is a need for studying financial management strategies which will result in sustained and profitable operations of an organization successfully weathering the vagaries of economic conditions. In a retail setup the changes in the external and internal environment are more frequent and there is a need to continuously look out for indicators that signal need for change in strategy. Consequently there is a need for constantly revisiting and reviewing existing strategies in order to meet challenges. Financial analytics comes out as one of the major decision making parameters and success factors. The social and economic impact of retail industry is too pronounced to be ignored or made light of. The positive impact of a successful financial strategy in a retail setup augurs well for employment generation and wealth creation. The reverse happens when a financial strategy fails and the retail company crumbles. In the present day scenario of reeling economic recession/correction, it is very important to have financial management strategies that will not only result in profit maximization and wealth maximization but more importantly will not result in loss or erosion of investors’ capital or employment opportunities. It is because of this requirement that this study is being taken up. IIIREVIEW OF LITERATURE 1. Case Study- Subhiksha: A Saga of Ups and Downs- by Bindu Rathore This study starts from the very beginning of the concept on which Subhiksha was ormed and studies the journey of the organization right from tracing its astronomical growth to its downfall. As per the study, the retailer was a trendsetter in many ways not only for the speed with which it was adding stores but the revenue model on which it worked. It promised the customer the most optimum prices and for this it applied a different supply chain management methodology. It would source items for cash and obtain maximum discounts that were passed on to the customer. Since this inventory would need some time to get converted into cash again, it would stock only the fastest moving stocks. This was the USP (Unique Sales Proposition) of the organization. With this sales ideology, the company turnover grew from Rs. 330 crore in 2005-06 to Rs. 833 crore in 2006-07 and then to Rs. 2,305 crore in 2007-08. The number of stores grew from 150 stores in September 2006 to 2300-odd stores in the year 2008-09. The inside story was that the rate of expansion was too fast for the funds in hand. By the time, the management realized this, global markets fell and there were no chances of raising capital. The company became unable to tie up funds even for ongoing operations like wages, inventories and advertising expenses etc. Apart from this it was also reportedly carrying a debt of Rs. 700 crores at an average interest cost of 12% per annum. That slowly started choking and led to paralysis of operations completely. 2. News report in the Wall Street Journal on 26th May 2009. A cash crunch and slowing consumer demand not only forced retailers to shut stores and stall expansion plans, it also set back makers of home and personal care products that had hoped to widen their sales reach through chain stores. Companies such as Hindustan Unilever Ltd (HUL) and Marico Ltd and Wipro Ltd’s consumer products division say the contribution of retail chains to their sales declined significantly in the two quarters ended March from the year-ago period. â€Å"The economic downturn that resulted in a liquidity squeeze, coupled with the decline in consumer sentiment and spending, hit the modern retail business. As a result, some FMCG (fast-moving consumer goods) companies are not generating enough sales and inventories are piling up ,† said Asitava Sen, director, retail consulting, at Nielsen Co. , the market research firm. In some exceptional cases, payments have not been made on time. † HUL’s managing director and chief executive officer Nitin Paranjpe cited slower growth in modern trade as one of the reasons for a decline in the company’s sales volumes Wipro Consumer Care and Lighting (WCCL) said sales growth through chain stores had slowed. The rapid growth of re tail chains in 2006-07 had encouraged consumer product makers to chart strategies to take advantage of that boom. Some, such as Wipro, GlaxoSmithkline Consumer Healthcare Ltd and Marico, set up separate teams to drive sales through modern retail outlets. Several others changed their packaging and even pricing to suit the new retail format’s needs and some offered higher margins to organized retailers. IV OBJECTIVES OF THE STUDY The current study titled â€Å"Strategies for Financial Management in the corporate retail industry in India† is being undertaken mainly with the following broad objectives in mind: 1. To suggest a management information system framework that will aid in formulating financial policies of a retail organisation in the Indian business environment. 2. To examine the impact of product service mix, consumer segment, format mix, geographical market strategies on the financial performance of the organisation and suggest financial management strategies for improvement of financial performance of retail organisations. 3. To study the factors responsible for the failures of certain retail organisations and analyse them. The findings would be useful to rationalise ways and means for timely implementation of or alteration to business strategies followed in a retail organisation. 4. To suggest review methodologies for business strategies to ensure adaptability to changing economic environment. . To compare the impact of the financial management framework in the retail organisations vis-a-vis organisations in other sectors like information technology , telecom etc.. 6. To suggest early warning mechanism through financial analytics. In brief, the purpose of the current study is to undertake detailed research of the impact of various business strategies used in the selection of the segment, the geographic location, the revenue model and other business decisions on the performance of a retail organization and to analyse the impact of these decisions on the financial strategies of the organization to ome out with informed and rational deductions. The study would also examine various existing financial management strategies of the organizations and their impact on the performance of the organization and suggest improvements in financial strategies for enhancing business performance. V HYPOTHESIS We have set a few hypotheses for the abovementioned study. The first hypothesis is that the economic conditions will either remain the same or will improve but will not deteriorate. Second, all the retail players will be impacted by the economic conditions in the same manner and respond to similar financial policies in a similar manner. Third, there could be differences between the performances of the retail players based on the p roducts dealt with. Fourth, we would not have access to the confidential data of the sample organizations taken up for study due to strategic reasons. VI RESEARCH METHODOLOGY Sample: A sample of three organisations in the retail sector in the twin cities of Hyderabad and Secunderabad would be selected as a sample for this study. The organisations proposed to be taken up as samples for this study are as under: 1. Reliance Fresh 2. Big Bazaar . Pantaloon Retail A minimum of three department heads would be selected and a survey of the target respondents would be taken to analyse the financial needs of the organisation and the financial management policies being followed. Primary source of information would be the survey conducted on the respondent population through questionnaires and personal interviews. Secondary source of information would be review of Journal and websites on Financial Management, Retail Management, like www. retailowner. com, www. economywatch. com etc. Financial information from General purpose financial statements available in the public domain like websites of the respective organisations, annual reports, and news articles published in financial newspapers and magazines. VII PERIOD OF STUDY On an average 3 years financial and operational data in each organization will be studied for arriving at a conclusive result of the current study. VIII IMPLICATIONS OF THE STUDY The findings of the current study would be useful to the various corporate players, both Indian and Global companies in the retail industry in India. The study would also be helpful to the stakeholders and also the small investors in such retail organizations in India. It would also help in developing a comprehensive research agenda around identified themes which include: (i) financial planning methodologies for the retail organisations; (ii) strategies for category optimizations to optimize performance management of the retail organizations; and (iii) Strategies for category optimization through Revenue Management. IXREFERENCES 1. Retail Management- Perspectives and Cases by V. V. Gopal 2. Retail Strategy- the view from the bridge- by Jonathon Reynolds and Christine Cuthbertson 3. Economic times- a financial daily 4. Wall Street Journal- e –newspaper 5. Retail Owners Institute website-www. retailowner. com .

Sunday, March 8, 2020

Macroeconomics Student Resource Center

Macroeconomics Student Resource Center This page contains links to the articles and links pages hosted on Economics at About.com. Most of the major topics in macroeconomics have at least one article associated with them, but this is a work in progress and more will be added every month. Most of the articles come from questions from readers, so if you would like to ask a question about macroeconomics, please use the feedback form. Be sure to also visit the Economics Glossary if youre looking for definitions, and Economics From A-to-Z for resources on other topics. The pages Macroeconomics Tips and Tricks and Macroeconomics Resources contain many links to other pages which contain macroeconomics information, so if what youre looking for is not here, Id suggest trying there. Term paper tips and topics can be found at Economics Term Paper Help. If you need practice economics questions, Test Yourself Macroeconomics (offsite) is the site to visit. Now to the resources! Business Cycles - Macroeconomics Beginners Guide to Economic Indicators and the Business CycleBusiness Cycle Links Economic Data - Macroeconomics Quarterly Economic DataImport and Exports Data Economic Growth - Macroeconomics The Effect of Income Taxes on Economic Growth Economic Indicators - Macroeconomics Beginners Guide to Economic Indicators Exchange Rates - Macroeconomics A Beginners Guide to Exchange RatesExchange Rates: What to Use as the Base?The Canadian Exchange Rate Financial Markets - Macroeconomics How Markets Use Information to Set PricesStock Market Resource CenterInsider Trading: What Did Martha Do?Interpreting The Price/Earnings RatioDo Changes in Stock Prices Cause Recessions?What Does The Value of the Dow Jones Represent?What is Arbitrage?When Stock Prices Go Down, Where Does the Money Go?Banking in IndiaFinance LinksStock Market Links Fiscal Policy The Logic of Collective Action Inflation and Deflation Cost-Push Inflation vs. Demand-Pull InflationDeflation Resource CenterWhy Dont Prices Decline During A Recession?What is Deflation and How Can It Be Prevented?Why Not Just Print More Money?Inflation Links Interest Rates The Dividend Tax Cut and Interest RatesInterest Rate Links Monetary Policy Expansionary Monetary Policy vs. Contractionary Monetary PolicyWhy Not Just Print More Money?Federal Reserve Links Money Money Resource CenterWhat Was The Gold Standard?What Is The Demand For Money?How Much Is The Per-Capita Money Supply?Why Does Money Have Value?Are Credit Cards a Form of Money?What is Arbitrage?When Stock Prices Go Down, Where Does the Money Go?Why Not Just Print More Money?Money Links Natural Resources We Will Never Run Out of OilSoftwood Lumber Dispute Resource Center Nominal and Real Variables The Difference Between Nominal and Real Recessions and Depressions Why Dont Prices Decline During A Recession?Do Changes in Stock Prices Cause Recessions?The Difference Between a Recession and a Depression Short Run vs. Long Run The Difference Between Short and Long Run Tariffs and Trade The Economic Effect of TariffsDoes Freer Trade Lead To Lower Environmental Standards?Softwood Lumber Dispute Resource CenterImport and Exports DataWhy Are Tariffs Preferable to Quotas? Taxes Fair Tax Resource CenterThe Effect of Income Taxes on Economic GrowthThe Dividend Tax Cut and Interest RatesTax Policy LinksWhy Are Tariffs Preferable to Quotas?The Economic Effect of Tariffs

Friday, February 21, 2020

Sustainable Management Futures Assignment Example | Topics and Well Written Essays - 1500 words

Sustainable Management Futures - Assignment Example â€Å"Let Capitalism Rip†, in the speech of British Prime Minister David Cameron signifies the dominance of capitalism in the society which concentrates on demolishing the free market. According to Prime Minister David Cameron, the popular capitalism should allow everyone to share in the success of the market. The Prime Minister also includes in his speech the social responsibilities of the firms and to prevent the abuse of the policies that have been conducted by the organisations to gain larger profitability as well as competency (BBC, 2012). To be precise, Prime Minister David Cameron, by making counterarguments over chronic capitalism practiced in UK documented the need for free market considerations not only on profit maximization but also toward Corporate Social Responsibilities (CSR). With due consideration to the aspect of capitalism and market labours, the government intends to enforce the policies toward the determined poverty level, ecological demolition, fundamenta l inequalities of wealth, and concentrated power in the hands of corporation, and property-owner among others (Charter & Johnson, 2011). The labour economics from a free market perspective signifies that the labours in the economy are based upon the three crucial factors of production which are recognised as land, labour and capital that generates the massive part of the annual GDP of the country. Therefore, the traders as well as the government in the United Kingdom provide significant consideration towards these issues of labours in the economic stature of the country (Block, 2008). In this regards, the speech of Prime Minister Cameron indicates to build a better and structured economy, so that the country along with its citizens can be benefitted in the free market, in terms of avoidance towards economic crisis and other similar challenges including poverty as well as power and wealth distribution (BBC, 2012). The proposal put forward by Prime Minister David Cameron in this speec h elaborates on the proper utilization of the human resources (labours) and other natural resources signifying a free rein perception within the market moving ahead against the traditional approach and â€Å"Let Capitalism Rip†. In the context of his speech about the dominance of capitalism in the entire business society of UK and its impact on the economic structure of the country, the moral highlighted was to apply the basic fair market approach in the business environment (Charter & Johnson, 2011). Prime Minister David Cameron, in this regard, stated that capitalism can be one of the strongest tools for development of the country’s financial structure, involving wealth creation as well as social responsibilities that was ever recognized. An effective capitalism insists the proprietors of intellectual property rights along with the economic property rights facilitating them to earn a profit as a reward for investing the capital at risk in a suitable form of free mark et financial activity (Norman, 2011). Capitalism is not only concerned about the economic and social conditions, it also be acquainted with its morals. The notion of capitalism involves morality as it considers a few auspicious demands, such the individual freedom based on personal principles, the assets of hard work and creativity, the social exchange regarding effectiveness of the traditions and intellectual practices along with government’