Critically analyse and evaluate current developments Essay

In the 1980’s and 1990’s the cruise industry saw the emergence of a new market, which was younger people with considerable income but no families. The term DINKY’s was given to these couples which meant â€Å"Double Income No Kids Yet† These couples were excellent to target as they had plenty of disposable income and they do not have any children to worry about, being able to go on holiday, when they like and where they like, spending their quality time together and not having to worry about the price. In 1990’s 15% of the passengers who cruised with P&O and Princess Cruises were from the UK and researches showed that there is still an active UK market. In 1998, the UK cruise market was expanding dramatically. Companies which had operated in the traditional holiday market were adding cruising to their portfolio and greatly increased their supply of cruise holidays for the UK market. Although cruising is loved by many travellers, there is still a staggering 98% of the population who have not taken a cruise, reasons identified by Dickinson and Vladimir (1997) cited in Cartwright and Baird (1999) revealed five main reasons why people do not cruise which consist it being too expensive, the exclusivity, family commitments, claustrophobia and sea sickness. Disabled consumers The disabled consumer group have become more interested in the cruising industry, many cruise liners did not offer ships which catered to disabled people. Now with the Disability Discrimination Act 1995, where all places who offer service have to make â€Å"reasonable adjustments† the cruise liners had no choice but to build disability-friendly rooms for their travelling disabled passengers. Not saying that they did not have these rooms before, but some cruise liners did not offer this service for the disabled consumer group, and it was against the law. There should be no problems for disabled people finding a cruise liner suitable for them as all cruise liners now offer fully disabled facilities within the ships to cater to the disabled consumer group. Family Cruising In the 1990’s a major development which was companies targeting families with children was put in place, by providing facilities not only for the adults but also for the children to enjoy, now in 2005, almost every cruise line offers family cruises. If a cruise liner does not offer a family cruise they are missing out on making lots of money. Although there are still some cruises which specifically do not allow children, reason being because these cruises are for the older / retired people who do not wish for screaming, noisy, crying children and babies when they are trying to relax. Being a kid is all about having fun. Coincidentally, so is vacation. But kids and parents rarely agree on what is fun. To parents, fancy dinners, late night shows and reading by the pool are fun. Kids have more fun playing games, doing scavenger hunts, and going down waterslides. The good news is that all of these activities occur on a cruise, making a cruise the vacation of choice for today’s families. Under the supervision of the youth staff, kids can play video games, eat pizza and play in a ball pit, while parents relax and have a fabulous five course meal. It is a parent’s and kid’s dream come true! (familycruise. com [online] 2005) The quote above was taken from www. familycruise. com an internet site which specifically caters for family cruises. Helping families to plan holidays which will keep both parents and kid’s happy on their holiday. Parents love to go on cruises so they have to be able to find a ship which caters for the family, letting the children have a good time on the cruise and also for the parents to relax and not have to worry about looking after their kids and think about what they are doing and are able to do on-board. The cruise industry has continued to grow rapidly since the introduction of family cruises. This might be due to parents now being able to have their dream holiday, a cruise, and not have to worry about their children as they can go too and have fully trained sitters to look after their kids and keep them occupied all day long. Price Cheap prices are what the lower-end consumers are looking for. A good price with an average cruise holiday, they cannot expect more than that as they are not paying a high price for a luxury cruising holiday. Although the cruise industry is very expensive, there are still many consumers who like to go on cruises. This could be due to status, as only the wealthier people can afford to go on these high-class cruises. In 1999, it was possible to obtain a seven day cruise from the UK for i 399 per person, which then was cheap compared to the top end cruises which were around i 2000 per person. Now in 2005, cruises prices start from i 599+ per person. This is rather expensive as the average family spends around that price for a holiday a year, not per person. Cheaper cruising prices should be being introduced and this would be an excellent idea as many lower-end consumers want to experience a good cruise but unfortunately do not have the funds. If cruise liners offered cheaper cruises with good experiences not only the wealthy passengers can go but so can the lower-end customers. Incentives Cruises in America often have many deals which include, prices starting from $399, book before Jan and receive an extra night’s stay, children under 16 cruise for free and many more. This is a good way to make more sales and allow people to pick their company to another one. As there are many incentives available which is what the consumers are looking for as they are paying a high price for their cruising holidays. â€Å"Receive our special Early-Booking discount and free hotel stay†. (cruise. gr [online] 2005) The quote above is very popular within the cruise industry, this is the type of incentive the consumer wants to see to help motivate them to purchasing the holiday. Consumers today are very greedy and like value for money, if they are buying on the internet they will always look for sites which offer them incentives towards their holidays, or when buying in travel agent they will try to get some freebies towards their holidays.

Cold Stone Marketing

Cold Stone Creamery Marketing Leroy Dowdy Walden University Dr. Bari Courts 30 September 2011 Abstract Cold Stone Creamery operates approximately fourteen hundred stores worldwide. Their premium ice cream products have kept them at the apex of the ice cream industry. An audit of Cold Stone’s marketing approach revealed flaws in areas that are critical to organizations in today’s marketplace. A first person interview revealed Cold Stone’s lack of innovative technology and a failure to incorporate the recommendations of franchise owners.Although Cold Stone has been successful utilizing low-tech marketing, today’s technology has the potential to solidify their market advantage. Cold Stone’s centralized control of marketing decisions has also created negative effects on local owners. The economic situation and the desire for customers to live a healthier lifestyle may have continued affects on the company. This student provided technology, market resear ch, and branding recommendations that could improve the company’s market growth. Executive Summary Cold Stone Creamery was founded in 1988 in Tempe Arizona and is owned and operated by Kahala L.L. C. (Cold Stone, 2012). Since inception, their philosophy has been to provide superior ice cream to consumers. They went as far as trade marking their products as Creationsâ„ ¢ in order to brand a product that is limited only by the consumer’s imagination. Mr. Toby Douglas, Cold Stone Creamery franchisee, agreed to be interviewed to discuss Cold Stone’s marketing strategies. Cold Stone franchisees operate over 1400 high-end ice cream stores worldwide (Cold Stone, 2012). Their superior ice cream is made daily in each individual store and only uses fresh quality ingredients.Cold Stone consistently ranks high in customer satisfaction, company reputation, and product quality (T. Douglas, personal communications, September 25, 2012). Conversely, their pricing is ranked lo w when compared to their competitors. Their marketing plan is not very robust considering today’s technology venues. The plan consists of electronic and hard copy coupons, free in store samples, television advertising, partnerships with other business owners, and birthday clubs. The impending health care reform coupled with more health conscious consumers has the potential to threaten Cold Stone’s future profits.Within the mandate, is a requirement for calorie count to be displayed on the menu by the end of 2013 (T. Douglas, personal communications, September 25, 2012). Mr. Douglas was the first Cold Stone franchisee to introduce yogurt in his product line. His store is located in a middle class suburb; therefore, he should be in a position to continue to thrive under the new mandates. By continuing to collaborate with the franchisor on decision-making, collecting, and analyzing consumer habits, Mr. Douglas should achieve continued growth in his customer base. Marketin g AuditMarketing has been defined as fulfilling the needs and wants of a prospect while remaining profitable throughout the process (Kotler & Keller, 2012). The role of marketing cannot be over stated. Cold Stone has done an exemplary job increasing demand for a product that some would argue sales itself. Successful marketing compliments other business operations such as administration, accounting, and finance (Kotler & Keller, 2012). Cold Stone’s marketing research determined the target consumer to be women aged 25-50 (T. Douglas, personal communication, September 25, 2012).The background of their research is proprietary; therefore, this student has no data to support or refute the findings. Given their success, one can conclude that Cold Stone’s comprehension of Kotler and Keller’s (2012) demand states concept is mature. Marketers must consider eight possible demand states: 1. Negative demand – customers do not desire a product. 2. Nonexistent demand â €“ product is unknown to the consumer. 3. Latent demand – current products cannot meet the consumer’s desire. 4. Declining demand – consumer purchases less or no product. . Irregular demand – purchases are influenced by variables such as seasonal changes. 6. Full demand – products are purchased upon introduction to the market. 7. Overfull demand – product supply cannot meet product demand. 8. Unwholesome demand – desired products are not socially acceptable (p. 8). Economics The current economic situation has affected Cold Stone franchisees, but not to a detrimental level (T. Douglas, personal communications, September 25, 2012). One of the largest economic influences to franchisees is the influx in the cost of sweet cream.Sweet cream is the bases for Cold Stone’s made fresh daily ice cream. Corporate fees remain constant; therefore, an increase in sweet cream cost solely affects the franchisee. Franchisees attempt to offse t the cost with low cost marketing campaigns. For example, franchisees may offer $1 off coupons for the duration of the sweet cream increase (T. Douglas, personal communication, September 25, 2012). Technology Technological advances seem to be passing by Cold Stone. Other that social networking, Cold Stone has not embraced a large portion of today’s technology. Mr.Douglas is one of a small number of franchisees to have a touch screen cash register. Political Influences The Patient Protection and Affordable Care Act (PPACA), commonly referred to as ObamaCare, requires chain restaurants with 20 or more outlets to display calorie information on menu boards prominently (CSPI, 2010). With consumers attempting to become healthier, this mandate may affect Cold Stone’s bottom-line. Mr. Douglas attempted to get ahead of the implications posed by this mandate. In 2010, he became the first Cold Stone franchisee to offer a yogurt bar.Cold Stone officially introduced yogurt to thei r lineup in 2012. Cultural Cold Stone consistently receives high ranking from consumers. Their product quality and reliability appeal to their patrons. One possible cultural threat to Cold Stone’s profit may be the desire for a healthier lifestyle. According to Griffin, Siegle, Lanpher, Khorramian, and Demirovic (2010), American consumers are making a conscientious effort to live healthier lifestyles. Task Environment Audit A struggling economy can have a debilitating effect on a company’s success.The Small Business Administration (SBA) tracks the failure rate of companies that secure 50 or more SBA loan disbursements (BlueMauMau, 2011). BlueMauMau (2011) reported Cold Stone was ranked 25th with a 37% failure rate for franchise owners between 2001 and 2010. Markets The ice cream market is declining for large franchisees such as Cold Stone (T. Douglas, personal communication, September 25, 2012). As a result, marketers have to be more innovative to attract consumers. Co ld Stone’s prices have always been higher than their competitors. The decline in market growth may prompt a better pricing strategy to offset the loss.Customer Segment Realizing they cannot meet the demands of each possible segment, Cold Stone chose to focus on demographics, specifically, the 25-50 year old female. The rationale for this segment remains a mystery, but reputation and product quality continue to receive a vote of confidence from consumers. The buying habits of this demographic continue to be examined and altered as appropriate. Competitors In addition to other ice cream providers, Cold Stone must compete with Starbucks, Tropical Smoothies, and other dessert vending companies (T. Douglas, personal communication, September 25, 2012).Their strengths, when compared to competitors, include product quality, brand reputation, premium ingredients, and store location (Griffin et al, 2010). These strengths are contributing factors to their main weakness – price. A lthough the majority of customers agree that Cold Stone pricing is an issue, they are not willing to give up their super premium Creationsâ„ ¢. Distribution and Dealers The need for fresh ingredients limits Cold Stone distribution options. They receive fresh ingredients daily via a local ground distributor. Increased fuel prices have forced their distributor to institute a fuel fee for items delivered (T.Douglas, personal communication, September 25, 2012). Marketing Information System Usage Marketing information systems (MIS) provides the necessary details about consumer purchasing habits (e. g. desires and preferences) in order to guide organization’s success (Kotler & Keller, 2012). The MIS captures marketing manager’s requirement (actual, perceived, and what is affordable) during the process of identifying consumer information (Kotler & Keller, 2012). Examples of data captured by marketing managers include the following: †¢ Regularly made decisions †¢ Required information for making decisions Any special studies requested †¢ Desired information that is not being received †¢ Periodicity of required information (i. e. daily) †¢ Required data analysis and reporting programs (p. 69) Cold Stone franchisees have little to no input into franchisor MIS selection or data input (T. Douglas, personal communication, September 25, 2012). This does not preclude them from creating their own system locally. The issue becomes convincing the franchisor that their local data is useful to the corporate process. Function Audit Cold Stone’s product objectives are straightforward.They proclaim, â€Å"If it has anything to do with ice cream, it has everything to do with Cold Stone† (Cold Stone, 2012). This simple yet bold statement is the corner stone belief that propels the franchise to the forefront of the ice cream vending market. Cold Stone’s premium ice cream comes in three sizes: Like it (5 oz. ), Love it (8 oz. ), and Gotta have it (12 oz. ) (Griffin et al, 2010). The addition of mix-ins such as Oreo pieces or M&Ms further increases the price; however, Cold Stone believes its customers are willing to pay the additional premium to experience their Creationâ„ ¢ products.Integrated Marketing Communications Cold Stone uses various media outlets to conduct their marketing (T. Douglas, personal communication, September 28, 2012). Given that their current target audience is women aged 25-50, Cold Stone has created a commercial campaign that they feel caters to demographic. Thirty-second advertisements run on television shows that attract the target demographic such as The View, Good Morning America, and Rachel Ray (T. Douglas, personal communication, September 28, 2012). Cold Stone’s research could not be analyzed to determine the accuracy of the chosen programs.Consumers also have the option to sample any of the flavors upon entering a store. The sample sizes are controlled by using o ne-time use sample spoons. Their direct marketing efforts include mobile phone and Valpak coupons (Griffin et al, 2010). Based on sales numbers, one could conclude that they are effectively using promotion tools to increase customer awareness. Strategy Audit Cold Stone’s mission statement is concise and stated in market-oriented language (T. Douglas, personal communication, September 25, 2012). Their website highlights the first five words of their mission statement – We will make people happy.Their commitment to customer happiness is seen immediately upon entering their store. Customers are met with a cheerful greeting and even offer a song to any customer who shows their appreciation by way of offering a tip. When interviewing potential employees, Mr. Douglas seeks to find candidates with outgoing personalities who share in the desire to make customers happy during the Cold Stone experience. Marketing Objectives and Strategies Cold Stone takes their marketing efforts seriously, as evident by the corporate control of all marketing efforts.Individual franchisees use to plan and execute local marketing strategies independent of corporate; however, that is no longer the case. The franchisee has input into the process, but the franchisor has ultimate authority over marketing decisions. Branding The objective of corporate branding is to create an image that is synonymous with an organization’s name (Mankani, 2010). Cold Stone’s brand equity or value added is evident by the rate of customer loyalty (T. Douglas, personal communication, September 28, 2012). Although their prices are higher than the competition, customers continue to prefer the Cold Stone experience.According to Kotler and Keller (2012) customer loyalty is a great indicator that an organization has created a strong brand. Recommendations Kotler and Keller’s (2012) six-step marketing research process would serve as an excellent starting point for Cold Stone marketers. Mr. Douglas was not aware of this process and was eager to learn more about the concept. The first step is to define the problem. This student believes Cold Stone’s primary problem to be a lack of technology. Kotler and Keller (2012) suggest that technology â€Å"is the essence of market capitalism† (p. 81).In order for Cold Stone to remain at the apex of the ice cream industry, technology must permeate their marketing and management efforts. It is not enough to equip franchisees with touch screen registers. Today’s information travels at the speed of light and requires proactive marketing such as search engine optimization, social media campaigns, and consumer interest mining. Consumer interest mining analyzes the customer’s website usage and creates market profiles based on their search habits (Woods, 2011). The marketer targets the consumer with tailored products and services.Next is to develop the research plan. Cold Stone would need to develop a cos t efficient research approach that includes qualitative, quantitative, or mixed approach research methods. Thirdly, the information is collected. Since this is normally the costliest step, Cold Stone should be proactive and maintain a hands-on approach to ensure they remain efficient. Fourthly, analyze the collected information. It is critical that Cold Stone looks at all the data before making assumptions about consumer demand. They would do well to study the New Coke blunder of the Coca Cola Corporation (IM CETYS, 2007).Fifthly, present findings to the franchisor and franchisees. The franchisees have a vested interest in brand success. Finally, make decisions that will position Cold Stone to benefit from technology efforts that will solidify their competitive advantage in the ice cream market. In addition to adopting the marketing research process, Cold Stone could afford to make adjustments in their branding approach. Mankani (2010) outlines the following steps to consider when d evising a corporate branding strategy. Branding strategies should be driven from the top down.Without unity and direction from the executive level branding efforts may be disjointed and off the mark. Select a business model as the cornerstone for the branding strategy. A company’s needs and values should dictate which model is chosen. Solicit input from those with a stake in the company (i. e. , customers, shareholders, and employees). Mr. Douglas’s success as the first franchisee to add a yogurt bar has not been without glitches. The yogurt distributor that he initially used was not maintained by the franchisor because it offered no additional profits to the franchisor (T.Douglas, personal communication, September 25, 2012). In order to create another stream of revenue, Cold Stone commissioned Kohler Dairy to produce a Cold Stone proprietary yogurt and mandated its sole use by franchisees. Mr. Douglas believes the decline in his yogurt sales is due to a less desirable yogurt; however, Cold Stone refuses to attribute the decline in yogurt sales to their proprietary yogurt (T. Douglas, personal communication, September 25, 2012). The franchisor’s response to Mr. Douglas fails to encourage employees to take ownership of the organization’s mission and vision.If franchisees are to be advocates of the branding process, the franchisor must encourage and act upon the type of feedback that Mr. Douglas offered. Decisions, such as these, should seek to make lasting customer relationships by providing the best product or service. A well-planned and executed communications strategy will propagate the branding efforts to the intended audience. For example, following up with customers by making post-sales contact via email, social media, or text messages will enhance branding efforts. Finally, perform audits on brand performance.Audits will assist in determining customer-based brand equity or the way a customer responds to the branding effort (Ko tler & Keller, 2012). Conclusion Cold Stone’s marketing efforts are calculated and centrally executed (T. Douglas, personal communication, September 25, 2012). Although their current store inventory is not as numerous as the past, their product quality and business reputation continues to be superb among their consumers. Haag and Cummings (2008) noted that business intelligence enables an organization to make educated decisions based on compiled data.Although there is no evidence of marketing information systems being utilized at the franchisee level, Cold Stone has an obvious grasp on demographic demand states. Cold Stone’s anemic technology model needs critical improvement. Today’s technology offers Cold Stone innovative solutions that can solidify their competitive advantage in the ice cream industry. Finally, Cold Stone’s stance on franchisee feedback is cause for concern. Although the franchisor understands and interprets marketing research nationall y, it makes sense that the franchisee understands their local consumers. In the case of Mr.Douglas, if Cold Stone made provisions for him to use the yogurt distributor preferred by his customer base this would result in a larger profit margin for all concerned parties. Customers will continue to crave Cold Stone Creationsâ„ ¢, but it remains to be seen whether Cold Stone can increase their customer base through more robust marketing techniques. . References BlueMauMau. (2011). BMM reports 2011 SBA failures: Cold stone creamery – 37%. Retrieved from https://sites. google. com/site/coldstonefacts/news/bmmreports2011sbafailurescoldstonecreamery-37 Center for Science in the Public Interest. 2010). Health reform to deliver calorie counts to chain restaurant menus nationwide. Retrieved from http://cspinet. org/new/201003211. html Cold Stone Creamery. (2012). About us. Retrieved from http://www. coldstonecreamery. com/about/about_cold_stone. html Haag, S. , & Cummings, M. (2008). Management information systems for the information age (Laureate Education, Inc. , custom ed. ). Boston: McGraw-Hill/Irwin. IM CETYS. (2007). New coke: A â€Å"classic† marketing research blunder?. Retrieved from http://imcetys. files. wordpress. com/2006/12/caso-newcoke. df Mankani, Y. (June 30, 2010). Eight important steps for creating successful corporate brand strategy. Retrieved from http://savedelete. com/8-important-steps-for-creating-successful-corporate-brand-strategy. html Mentzer, J. T. , Myers, M. B. , & Stank, T. P. (Eds. ). (2007). Handbook of global supply chain management. Thousand Oaks, CA: Sage Publications Woods, D. (2011). How real-time marketing technology can transform your business. Retrieved from http://www. forbes. com/sites/ciocentral/2011/05/06/how-real-time-marketing-technology-can-transform-your-business/

Hazardouse agents in the work place Essay Example | Topics and Well Written Essays - 3500 words

Hazardouse agents in the work place - Essay Example Such conditions result from excessive exposure and can only be avoided through adequate control measures which will prevent or minimise exposure to harmful agents. The process by which evidence of hazardous occupational conditions and information on control methods is translated into actual implementation of control and prevention strategies to eliminate or dramatically reduce the hazardous exposure and associated health risk, is often the result of a subtle compromise between scientific evidence of varying degree of certainty, interest group lobbying, and feasibility considerations. Workplace fatalities, injuries and illnesses remain at unacceptably high levels and involve an enormous and unnecessary health burden, suffering, and economic loss amounting to 4-5% of GDP. According to the latest ILO estimates for the year 2005 there are 2.0 million work-related deaths per year. WHO estimates that there are only 10-15% of workers who have access to a basic standard of occupational health services. (World Health Organization) A potential health hazard exists when a ... WHO estimates that there are only 10-15% of workers who have access to a basic standard of occupational health services. (World Health Organization) A potential health hazard exists when a person comes in contact with any agent whose properties can cause harm to the body when excessive exposure takes place. A health hazard may result in an illness or a disease. An illness or disease is a specific malfunction of the body, or one of its systems or organs, which has a particular set of symptoms. Occupational illnesses and diseases are those caused by exposure to a hazard in the workplace. According to the module titled, "Your Body at Work" by the International Labour Organisation (UN), the human body has natural defense systems which help to protect us against many hazards or dangers. Further, these defense systems also help the body to heal or repair itself when it gets injured or sick. However, there are hazards - arising from bacteria, viruses, chemicals, dusts, vapours, noise, extreme temperatures, work processes, etc. - to which a worker may be exposed or which are surrounding him or her at work or in the general environment, that can break down and weaken the body's defense systems. Dealing with health hazards in the workplace involves three key steps: recognition, assessment and control. Recognizing the hazard means identifying those substances and agents present in the workplace which have the potential to cause adverse health effects. Assessing the hazard involves a process of identifying the actual or potential exposure of workers to the hazard and determining whether or not the exposure is hazardous. Controlling the hazard means limiting or preventing harmful exposure of workers to

Coursework. Immunoprecipitation Technique Coursework

. Immunoprecipitation Technique - Coursework Example The basic idea behind this technique is the separation of one single protein from a mixture of proteins. This could give us the idea of several characters of a protein such as its relative occurrence in a solution, it’s up and down regulation as well as its affinity for a specific antibody. Technique/Methodology Usually the process of immunoprecipitation can be completed in two ways: in sequential or in one step. Commonly the antibody on which the required protein is supposed to be attached is immobilized on a solid support such as beads. This solution containing the immobilized antibody and the beaded support is then incubated with the solution that contains the protein mixture containing the required protein. Incubation allows the specific protein to bind to then antigen and form a complex. This complex can then be separated from the solution and studied with different techniques such as ELISA or Western Blot according to the requirements. (Pierce Biotechnology 2011) (Pierce Biotechnology 2011) The diagrams courtesy of ‘Pierce Biotechnology’ show the process of immunoprecipitation starting from preparation of a solid support along with the antigen to the incubation and the formation of the antigen-protein complexes till the precipitation of the required protein. Types There main types of immunoprecipitation are: 1. ... pitation: Same as Chromatin only difference lies in the detection of RNA binding proteins Uses Immunoprecipitation has been useful in many aspects such as, It has enabled the scientists to know the activation of the proteins, their molecular weight and also separate some protein binding molecules too. This technique has also been helpful in detecting the abundance and activity of a protein. Protocols After collecting the required number of cells and washing them in ice cold PBS, the solution was spinned at 1000g at a temperature of 4 degrees. This would help in separating the supernatant fluid. The next step involves the resuspension of the pellet that contains the cells in an ice cold buffer after which the cells are lysed by centrifuge. The supernatant fluid is removed after spinning it again at 13000g at the same temperature for fifteen minutes. Bradford assay is then used to measure the quantity of the protein after the supernatant fluid is removed by spinning briefly. This super natant free solution is then incubated in a cold room with the required amount of specific antibody solution. After the addition of Protein A or G beads to the tube it is again incubated for an hour and then spinned briefly again so that further supernatant is removed. This beaded fraction is then washed with ice cold buffer and spinned to remove the supernatant and the resultant solution is kept for further analysis. BCL-2 Proteins Bcl 2 family proteins have been identified to play a major role in the process of cell death i.e. apoptosis. These proteins play both anti and pro apoptotic roles. Some members of the family are supposed to increase while some are supposed to decrease this process of apoptosis. In this project the interaction of Bcl 2 family proteins with PUMA have been

Diatoms Essay Example | Topics and Well Written Essays - 750 words

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Liquidity Risk Essay Example | Topics and Well Written Essays - 4000 words

Liquidity Risk - Essay Example On the other side, the market liquidity depends on the calculation of value risk and the length of holding period. So, the risk liability is attached with the issue of funding liquidity which may vary in the case of vast range of transaction (Fight, 421). The risk of liquidity tends to be managed, when market, credit and other risks are considered to be additional. There are several types of risk resolving techniques. These all are incorporated with the life of initial bank risk. The Federal Reserve System provided a banking risk framework designed by six factors. These include, reputational and liquidity risk, legal risks, market risks, credit risks. The structures of risk management are thus reviewed, making use of these risk categories. The supervision group is concerned with the liquidity risk fund, continue the preventive action against the other emerging risk and follow the current risk. All this preventive actions are fixed on revelation by majority of Federal Reserve banks. T his process tends to figure on a continuous basis, and as a result, measures to counter the existence of so many opportunities may result to risk (Morrison, 245). The financial risk is related with the possibilities of losing money of shareholder. On the other word, the investors did not have enough return on their investment in the company. This type of situation arises when the cash flow of the company proves inadequate to meet all the financial obligation of the company. At the time of insolvency, the creditors.

Individual Reflection on Group Experience Essay

Individual Reflection on Group Experience - Essay Example As a result of a fact acceptance of the single mode of connectivity which has developed on the lines of internet powered virtual platform in various corners of the world, the world has been transformed into a single connected global entity. This has increasingly paved the way for easy synchronization of various trends related to globalization that are emerging from the different corners of the world. In discussing the trends of globalization, it has to be considered that in most cases, the trends originate from the developed countries and slowly gets diffused in the emerging economies. Because of this shift in trend, related to globalization, there is a continuous emergence of various business opportunities. Most of these business opportunities are highly innovative in nature, while some are routinely traditional in nature. However, the evolution of the new business opportunities simply represents the fact that various companies around the world will be trying to gain advantage of th e opportunity that is evolving in these new markets. So, automatically, this will fuel an increase in competition. Now, in order to gain an edge in the marketplace, with regards to the locally as well as internationally promoted competition, the organizations needs to have a very cost efficient structure of management. When an organization embraces a lean structure for employee management, it brings in the concept of getting more work done from the employees of the organization. Also, it has to be considered that in today’s highly connected global environment, employees of an organization are no longer bounded to their respective cubicles or workstations on a timely manner. Rather the concepts of flexi timing, work from home enables employees to stay connected to their workplaces through the virtual world on a minute and hour basis. However, despite organization and lifestyle based adjustments in the society, companies work in a structured and layered formation, when it comes to daily activities. Organizations have various divisions and groups of people who handle diversified job related functionalities for the organization, either being physically present or being virtually present. Often these groups needs to be directed and made to work in perfect synchronization with each other under the able leadership of a efficient team manager or team lead. While a team leader or a senior manager managing the group provides directional support, it is the members of the team whose seamless collaboration and cooperation with each other helps an organization of varying dimension to achieve its day to day objectives as well as short and long term goals. It can be stated in a very simple manner, that group work either in the physical or in the virtual mode promotes an environment where members of a group can effectively learn, collaborate and communicate in a very smooth manner. Effective and successful group work also helps in a great way in developing the morale of the employees of an organization which promotes an environment of physical as well as virtual workplace. In this particular case, the focus is on analyzing as well as studying the effectiveness of group work among a collective group of students who were made to work in a group format for the purpose of handling of assignments of an academic nature. Evolution of the group over the term From the theoretical point of view,

Business Law Essay Example | Topics and Well Written Essays - 2000 words - 8

Business Law - Essay Example This paper finds that implied terms, as it has long been considered to be integral component of the structure of employment contract, plays vital role in the formation of terms and conditions that are applicable to the employment contract. The research is structured considering the doctrine of precedence and the employment relationship. An employment contract forms to be the basis on which an employee is employed under an employer. If there is no employment contract, the employee cannot be categorized to be an employee (Bell, p. 27). The employment contract is legally binding relationship between an employer and his employee that defines the structure and contents of the relationship between each of them and it strengthens all the claims to employment tribunals and litigates legal risks and liabilities (Leighton, p. 11). Recruitment, one of the fundamental functions of HRM, is a basic step to create an employment contract and relation between employer and employee and this, if conducted effectively, can ease the procedure of forming employment contract by including relevant terms and contents in it. The contract of employment is very similar to any other legal contract in many aspects. Generally, a contract of employment will be expressed in writing, but this not the case always as in the case of other contracts (Bell, p. 28). It is legally and strongly advisable to the employer to issue a written contract so that it will help mitigate all legal risks associated with employment and also to avoid misunderstandings between both the parties. There can be temporary of full time employment contracts as well in which contract is agreed between the parties that it will end within a specific period of time or it is of unlimited duration (Macdonald, p. 36- 37). The contract of employment may consist of a number of terms and conditions and these can either be expressed or implied. Expressed terms are those that both the parties

Psychological Profile Tests Essay Example | Topics and Well Written Essays - 750 words

Psychological Profile Tests - Essay Example The test-retest reliability for the GESS score has been analyzed by comparison of the data from two administrations of this test to identical subjects.   The scatter plots of these two sets of data shows a nearly identical pattern.   The slope of each best-fit line for the each data set is nearly identical, as is the Mean and Standard Deviation.   Because the slopes of the best-fit lines are positive numbers close to a correlation coefficient of +1, 0.94 for GESS 1 and 0.66 for GESS 2, there is a strong positive correlation between these measurements.   The values obtained for the slopes of the GESS 1 and GESS 2 data suggest a high level of test validity.   A direct relationship is shown to exist between GESS 1 and GESS 2 and this is a very powerful indication of reliability.   From all of these observations, the GESS test appears to be highly reliable and highly valid.The Cronbach’s Alpha value is 0.84 for the comparison of the data between GESS 1 and GESS 2.   Cronbach’s Alpha is an important statistical analysis method that demonstrates the level of test-retest reliability.   Empirical evidence has shown that a Cronbach’s Alpha score greater than 0.7 is necessary in order for a psychological instrument to have an adequate degree of test-retest reliability.   The high value of 0.84 obtained in this study indicates that the GESS inventory has a very strong level of test-retest reliability and is therefore a clinically usable instrument.The test-retest reliability for the ICI score has been analyzed by comparison of the data.... The current study shows that these measurements are essentially the same. The test-retest reliability for the GESS score has been analyzed by comparison of the data from two administrations of this test to identical subjects. The scatter plots of these two sets of data shows a nearly identical pattern. The slope of each best-fit line for the each data set is nearly identical, as is the Mean and Standard Deviation. Because the slopes of the best-fit lines are positive numbers close to a correlation coefficient of +1, 0.94 for GESS 1 and 0.66 for GESS 2, there is a strong positive correlation between these measurements. The values obtained for the slopes of the GESS 1 and GESS 2 data suggest a high level of test validity. A direct relationship is shown to exist between GESS 1 and GESS 2 and this is a very powerful indication of reliability. From all of these observations, the GESS test appears to be highly reliable and highly valid. The Cronbach's Alpha value is 0.84 for the comparison of the data between GESS 1 and GESS 2. Cronbach's Alpha is an important statistical analysis method that demonstrates the level of test-retest reliability. Empirical evidence has shown that a Cronbach's Alpha score greater than 0.7 is necessary in order for a psychological instrument to have an adequate degree of test-retest reliability. The high value of 0.84 obtained in this study indicates that the GESS inventory has a very strong level of test-retest reliability and is therefore a clinically usable instrument. The test-retest reliability for the ICI score has been analyzed by comparison of the data from two administrations of this test to identical subjects. The scatter plots of these two sets of data shows a

Ip3 training and development Research Paper Example | Topics and Well Written Essays - 250 words

Ip3 training and development - Research Paper Example Here we can see the four level of evaluation which is reaction, learning, behaviour and results let us look at it one by one. Reaction – At this level, the trainee’s reaction to the training given is analysed. Reaction is important as it gives an insight on how the training was received by the audience. For example, the trainees look content and asking questions means they are receiving information in a better way. As per (GSA, 2014) â€Å"Although participant reactions to training are clearly not the sole indicator of its effectiveness, it is possible that their reactions represent one variable that is part of the larger homological network of variables that influence training effectiveness†. Learning – Here the measure of knowledge gained by the trainee is assessed. How much their knowledge increased can be done with the help of learning objective prepared in advance. For example it can be assessed with the help of questionnaire and role play. As per (Solar, 2013) â€Å"The third level of evaluation answers the question – are they applying what they learned†. Behaviour - Here the change in the behaviour of the trainee due to the training is looked in to. For example, the job of the employees can be observed after the training session as a follow – up measure. Government of South Australia (2014). Good for your business. In http://www.skills.sa.gov.au. Retrieved June 26, 2014, from

Education-Benchmark Assessment Essay Example for Free

Education-Benchmark Assessment Essay Several theories explain the concept of Early Childhood Education (ECE). Deiner (2013) describes that all of them share the same opinion that an early childhood educator is extremely essential in the development of a childs intellectual and educational abilities. It is also commonly agreeable among the theories that the early childhood education can have a great impact in the life of an individual since education is progressive, and each stage leads to a higher one. However, there are some contradictions in the theories, which regard to some aspects of ECE. For instance, some studies feel that the intellectual development depends on the genes of the child as acquired from the parents. Other studies hold a different opinion, that the environment plays a great role in ECE. Some assert that both the environment and the biological play a great role in early childhood development. This study is based on the fact that the educator is part of the environment in which the child is subjected to, and all children can learn. The educator has several roles that make them have a great impact on a child. An early childhood educator has the responsibility to ensure that a child gains as much knowledge as possible depending on the level of the child, where the level is to a large extent determined by the age of the child. A child spends most of the waking time with the educator. There are differences presented by the various personalities of children. As a result, each child should be treated differently from the other by the educator. As a result, the educator needs to have sufficient knowledge on how to  understand each child, so that each child gains maximally. The educator defines the environment in which a child lives in school. It is agreeable that children have some common interests. For instance, most studies point out that using objects in educating children in grade three or lower can have on enhancing their knowledge by having them relate to things they frequently use. This means that the environment needs to have various objects and pictorial presentations for more effective learning. There are other considerations that the educator needs to be aware of, such as ensuring that the relationship among students themselves and between the educator and children is supportive to the education to be acquired. An early childhood educator deals with children who might not be much exposed, and they are open to what they are learn. It is clear from this essential role of educators that they should be having some personal characteristics. Grotewell Burton (2008) explains that one of them is that the educator should be role model to the children. In addition, the educator should maintain a healthy lifestyle since children are much vulnerable to communicable illnesses. The use of clear communication is also relevant, not only to convey information to the children, but also because it can affect the childrens communication skills as well. Moreover, the educator needs to work closely with the children, their parents and the fellow educators so that they can learn more about each child. This means that sometimes they are involved in settling conflicts between the children and families. The role as the professional in the teaching and learning of children is achieved through several ways. One of them is by the educators developing and implementing programs that are designed to meet the childrens physical, intellectual, social, emotional, developmental and cultural needs and interests. The programs are basically considerate on a play environment. The programs also consider the age of the children. The educator can improvise some of the equipment that can be needed by the children. Secondly, the role can be attained by building the childrens interpersonal and social skills. Positive self-concept can also be achieved by having the educator  establishing positive guidelines that let the children to feel comfortable, safe and secure. Third, as aforementioned, constant communication with the other stakeholders in ECE, mostly the parents, should be considered. Forth, activities that actively involve the children ensure that the children gain maximally. Such activities could include outdoor play, various play experiences, snacks and meals as well as field trips (Deiner, 2013). The child educator also plays a role as an advocate on behalf of children. The educator is expected to understand children in general. Sometimes, children can be presented by challenges that they cannot easily express verbally to the relevant authorities. This means that they can suffer silently over issues such as domestic violence, bullying and lack of basic commodities. The educator has sufficient knowledge to realize a child who is having some pressing issues. Some children can gain the confidence and trust to open up to the educator, virtues that the educator should possess. The educator could as a result gain information that could not be realized by the parents and other people close to the children. Bhavya (2007) feels that children might not be sure on how to approach these issues. Some may be living in fear of exposing how they feel. However, the educator is in a better position to assist. For instance, the educator can ensure that the bullies in the educational institution are warned against it in the best way possible. The educator can be aware on how they can assist when cases of violence where a child is a direct or indirect victim are presented, such as involving lawful measures as well as talking with the parents and guardians of the children. Children whose parents cannot sufficiently offer basic needs can have their needs sought from other sources. Therefore, the educator represents the children in cases where the child might be unable to express themselves. Educators should work with the mentality that all children can learn. Learning involves various aspects of gaining knowledge, and not exclusive to study of books. It involves interpersonal and communication skills. Children are also expected to learn values that are generally acceptable in the society. Each child consequently needs to learn. In addition, each child has  the capability to learn. Although there can be variances in the capabilities, children are able to continually gain knowledge on the aspects noted. The educator should understand how much each child can contain. Moreover, it is relevant to know exactly what a child needs in order to learn. For instance, some children could require frequent reminders and assignments so that they can understand some concepts (Grotewell Burton, 2008). As the different aspects of learning are concerned, there needs to be various assessments to test the success of each. Apart from the writing and reading skills, tests such as etiquette, posture and arts can be conducted regularly. Although the tests might not be recordable, an educator who clearly understands each of the students can clearly tell whether there is progress in the development of a child. The assessment practices should ensure that the children gain from the basics to the complex contents so that all children can learn (Bhavya, 2007). Technology currently plays a role in the education to young children. Educators are increasingly using technology due to the several benefits it has in enhancing gaining of knowledge among them. There are equipments that have been developed with an aim to create fun as children learn. For instance, counting machines are attractive to the children, and they can enjoy using it. The technologically developed equipments are also safe and easy to use. This means that the children can learn some things on their own after being guided by the educator. Some technology can be used in displaying information that could not be better displayed in any other means. Photos that are presented in screens can be relevant in showing children objects that can help them to learn. Technology also reduces costs in teaching children. For instance, a trip to view some objects in far places can be avoided by having the objects displayed. Therefore, technology is significant in teaching children (Morgan, 2011). The environment is crucial in the teaching and learning among children  between birth and grade three. It affects the emotional, intellectual, psychological and physical aspects of a child. The environment concerns several things, but most importantly the people who interact with the children. The environment should support learning, and it could contain learning inhibiting factors, or can contain motivating ones. If the environment does not support learning, the child cannot concentrate. Children are much likely to put more focus on issues that constantly happen to them. For instance, if they are being physically or emotionally abused, they cannot gain much in the learning process (Morgan, 2011). Children are much motivated by some aspects in the environment. One of them is the availability of ample playing space. Since the children gain a lot when playing, space and equipment provided by the environment can enhance their learning greatly. The environment can also be motivating by just being safe for the children. Therefore, the environment is crucial in the learning of children. References Bhavya, M. S. (2007). _Early childhood education_. Delhi [India: Kalpaz Publications. Deiner, P. L. (2013). _Inclusive early childhood education: Development, resources, practice_. Belmont, CA: Wadsworth Cengage Learning. Grotewell, P. G., Burton, Y. R. (2008). _Early childhood education: Issues and developments_. New York: Nova Science Publishers. Morgan, H. (2011). _Early childhood education: History, theory, and practice_. Lanham, Md: Rowman Littlefield.

Brain in a Vat Theory by Hilary Putnam | Analysis

Brain in a Vat Theory by Hilary Putnam | Analysis In Hilary Putnams Brain-in-a-vat (BIV) example, a world exists in which brains, a neuroscientist, a supercomputer running simulations of brains contained in a vat, and the vat itself are the only objects. These items have either always existed or appeared completely randomly with each item in the same state (i.e. computers running simulations, brains are in vats, etc.) Understanding this, imagine the following scenario: You are the evil scientist who monitors BIVs and the experiences they receive from the computers. You ensure that all the BIVs connected believe they are living a functional life in Springfield, Illinois. One of your BIVs is code-named The Chancellor. After some time passes, the Chancellor virtually utters the phrase I know I am just a brain-in-a-vat, which he believes to be true, and then continues on with his programmed functions. The BIV scenario Putnam presents is one such argument positing the skeptical hypothesis. Much like the Descartes Evil Genius, the skeptical hypothesis calls into doubt ones knowledge of the external world. While the Evil Genius relies on a supreme deceiving deity, Putnams BIV ponders the effects of a mad scientist using computers to induce illusory perceptions and experiences. Traditional skeptics contend we are unable to discern the BIV hypothesis as false; if we were to grant the BIV premises as true, then our experiences would appear just they presently do (Stanford 2009). Consequently, skeptics maintain that we lack the ability to know anything about the world external to us. Putnam applies his semantic externalism and consequently deems the scenario with the Chancellor impossible. Semantic externalism is a form of externalism where meanings and truth conditions of ones sentences, and the contents of ones intentional mental states, depend upon the character of ones external, causal environment (Stanford 2009). More precisely, he focuses his concern to the first-person sentence, I am a brain-in-a-vat to demonstrate that an instance in which the Chancellor verbally uttered said phrase is necessarily false. Consequently, Putnam deduces that we mustnt be BIVs. I will argue that Putnam misuses the definition of vat in his brain-in-a-vat experiment, thereby decreasing his likelihood of disproving the skeptical hypothesis. In this essay, I will define semantic externalism, followed by Putnams use of it against three different BIV scenarios. If we were to accept semantic externalism, then we would necessarily acknowledge that how we define a term is not the sole factor in deciding what the word means to us. A common example would be the examination of a familiar substance (e.g. water) and how its meaning would remain constant even before encountering it. More precisely, those who adhere to semantic externalism would view the word water as a term ascribed to a substance with a chemical composition of H2O before scientists had discerned the molecules comprising it; however, the composition of this substance we had labeled water did, to some extent, contribute to our meaning (DeRose 102). For Putnam, interaction with things in the world represents the external factor. For example, consider two people who have the same mental states and then start interacting with substances which are cosmetically similar while still composed of different molecules. Perhaps one individual interacts exclusively with Ag (silver), and the other interacts only with ABC, but both learn the word silver to refer to each of their respective substances. As a result, each individual would have the same mental states (desires, beliefs, volitions, etc.), but with differing in what they reference; silver would mean Ag for one, and ABC for the other. In order for Putnam to connect semantic externalism to his BIV experiment, he begins by noting that it is necessary to acknowledge that any articulation of the sentence I am a brain-in-a-vat appears to be self-refuting. More precisely, if we were to maintain this sentence to be true, the sentence would still derive a false conclusion since we couldnt say I am a brain-in-a-vat and know that I am in such a state. Take for example the statement [t]here is no definite statement. If you view this statement as true, it would have to be false because it is a definite statement. If you posited the statement to be false, then the answer is still false. To demonstrate how this relates to Putnams BIVs, first assume that we actually exist in the tangible world (T) just as commonly held, instead of in vats (instance T, where T is the Tangible world.) We have the following: (T1) If I live in a Tangible world, I am not a Brain-in-a-vat. (T2) In instance T, I live in a tangible world. (TC) I am not a Brain-in-a-vat (True)(T1, T2) I am not a BIV. (TC) Next, consider we are now the brains in the vats a different instance (instance BIV). In this instance BIV, an intricate computing system continually feeds us phenomenal experiences. So, we now have the complicated computing system sending us signals for us to construct our experiences. Now we have a different problem in instance BIV: (BIV1)If I am an actual BIV, a computer is sending me phenomenal experiences. (BIV2) I am an actual BIV. (BIV3)A computer is sending me phenomenal experiences. (BIV1, BIV2) (BIV4)If I utter I am a BIV, I am a brain-in-a-vat. (False, BIV3) (BIVC) I am not a brain-in-a-vat (True) (BIV1, BIV2, BIV3, BIV4) Thus, I am not a brain-in-a-vat (BIVC) To clarify, semantic externalism implies that the subject will never interact with the Tangible vats in the world. So, when the Chancellor iterates vat, he does not mean tangible-vats, but instead the origin of these electric impulses. More precisely, when he says vat he means artificial-vats because he actually interacted with a computer program. If the Chancellor was referring to a brain in the instance BIV, that brain would be referring to the electrical impulses sent from the computer in the form of artificial vats. Therefore, we arrive at the following scenario: (BIV1) I am a brain-in-a-vat (False); (BIV1) implies (BIV2) I am not a brain-in-a-vat (True) (BIV1, BIV2) implies we are not brains in vats. Consequently, the notion that I am a brain-in-a-vat appears to be a self-refuting according to Putnam. After Putnam believes he has established this self-refutation, he must form a generic (i.e. universally applicable) argument (U). Hence, the following instance: Iteration of (U1) I am a brain-in-a-vat (false, necessarily); (U2) I am not a brain-in-a-vat (from U1)(true, necessarily) (UC)If I am not a brain-in-a-vat, then we are not brains in vats. We are not brains in vats. (UC) The uttering of I am a brain-in-a-vat must be false since the instance BIV concludes that we are not brains in vats. As a result, we mustnt be brains in vats according to this logic. While on the surface this may seem sound, I intend to show how Putnam may have missed the mark. At first glance, the logic behind the Tangible world instance, the BIV instance, and the Universal instance may seem identical insofar as they each deduce we are not brains in vats; however, each stipulation incorporates a different meaning of the word vat. The vat used in the Universal instance represents an obscure term between the first two mentioned instances (i.e. Tangible world and BIV instance); the Tangible vat represents vats from the tangible world just as we would perceive it today; and the BIV vat stands for the virtual vat that the super phenomenal computer has created for us with its electric signals. Putnams error occurs when he doesnt universalize the vat definition by using the latter sense of the artificial vat throughout instance BIV. While a bit confusing, it seems Putnam considers the instance (BIV1) since the only time it is true is in the latter sense of vat. Putnam also wants to tie this definition to the Tangible world. After all, we all live in the tangible world and would want to believe we are not brains in vats while in the tangible world. Unfortunately, using slightly different definitions during an attempt to prove this conclusion hampers the argument. In other words, his argument is either that (BIV1) implies (BIV2) implies (TC) or that (BIV1) implies (T2) implies (TC); however, these arguments fail to hold true. It is unnecessary to consider both possibilities in depth independently, since they can both be repudiated on the same criteria. Whether going from (BIV2) to (TC), or from (BIV1) to (T2), Putnam makes an observation about BIV-vats, and then uses that to make a claim about Tangible-vats. The true statement, (BIV2) I am a not a brain in a virtual-vat fails to imply Not being brains in tangible-vats. Likewise, (T2) I am not a brain in a tangible-vat being true, fails to follow from (BIV1) I am a brain in an artificial-vat being false. The lack of a constant definition of vat poses one significant stumbling block for Putnam; however, if you maintain a certain degree of what constitutes vat, the argument still remains invalid and runs into other problems which I will not address here. I have attempted to argue that one cannot get to (TC) from (BIV1); however, anyone who subscribes to Putnams argument against brains-in-vats might argue the opposite. It is important to recognize the conditions surrounding the argument. More precisely, Putnam presupposes we live in the natural world. The skeptics main argument is that we lack the knowledge to discern whether or not we exist as brains in vats. We would only be able to differentiate between the instances and the vat usage if we new definitively which instances were being referenced. Semantic externalism lacks the ability to liberate us from a skeptical hypothesis. Putnam fails to show that we can not be Brains in Vats, but he does show that if we were a BIV and uttered the phrase I am a BIV, we would not know it. He fails to cinch a logical loop and all he really shows is that the brain in the vat couldnt know it was a brain-in-a-vat. If Putnams version of semantic externalism is correct, but we are brains in vats, then we lack the ability to discuss the tangible-world. For example, if we assume that we are brains in vats, when I said the worlds tangible-world in the previous sentence, I was actually referring to the artificial world because that is what I have been interacting with. Therefore, provided that the skeptic is correct that we would not know if we were brains in a vat, and also assuming that Putnams semantic externalism is similarly correct, then we simply do lack the knowledge of the meaning of the words in our vocabulary. More precisely, assuming t hat interaction remains critical to gaining understanding and meaning, then it becomes a necessity to know precisely with what we must interact. Hilary Putnam attempted to embrace semantic externalism in hopes of freeing us from skeptics; however, Putnam did illustrate that BIVs wouldnt be able to say or even think they were BIVs, thereby demonstrating a quandary for semantic externalism. Works Cited DeRose, Keith. Responding to Skepticism. Skepticism A Contemporary Reader. New York: Oxford UP, USA, 1999. Print. Putnam, Hilary. Brains in a Vat. Putnam on Brains in a Vat. 2 Mar. 2005. Drexel University. 10 Oct. 2009 . Unknown. Brains in a Vat. Stanford Encyclopedia of Philosophy. 29 Oct. 2004. SEP. 10 Oct. 2009 . Subway Franchise: SWOT and Management Analysis Subway Franchise: SWOT and Management Analysis Analyze the goals and objectives using the mission statement as the basis. 1.1 Mission Statement of the selected organization To provide the tools and knowledge to allow entrepreneurs to successfully compete in the QSR industry worldwide by consistently offering value to consumers through providing great-tasting food that is good for them and made the way they like it. Goals of the mission statement SUBWAY restaurants goal is to be ranked the number one restaurant by consumers and number one in restaurant country in every market that they serve. Environmental factors which affect the company 2.1 Political effects Monitoring, understanding and adapting to the political environment is absolutely essential for any business, because it significantly affects every business, some of the factors are Constancy of the government Type of Government (democratic, dictatorship, monarchy, etc) The government have Economic policy Available Trade policy Diplomatic actions in nearby countries Furthermore, political context can change for the foreseeable future. 2.2 Economic affects When walking down the Subway restaurant, its impossible to overlook the ever-changing price of food. According to the Food Timeline, in early part of 1990s one Italian herb and cheese bread cost 1pound and 50pence, by 1998, that same Italian herb and cheese bread cost 3 pounds, on average. The entire site of food economics transformed greatly throughout the periods, absent from the agricultural economy of the 1930s to the technological, consumer-driven market. Also this alteration, there are many number of other issues that impact food economics. 2.3 Production and Supply As improvement of technology came to farms, the landlords able to produced more food and transported it to marketplace extra successfully. But still, quick production does not for all time signify good prices. The industrial market is brutal, and maintaining cost of the farms are important. To build up for this, some countries like the United States offer farm subsidies in direct to steady farm manufacture and the food marketplace. in addition, studies continues searching for ways to get better food give ways in the face of an ever-rising population. 2.4 Consumer Demand The tastes of people all over the world revolutionize from time to time, mostly when showing to new civilizations or facts. For example, in the 1980s America began acceptance sushi and other Asian-fusion foods. According to Food Wine Magazine, from 1988-1998 the amount of sushi bars quintupled in the United States. Likewise, with the focus on strong eating, as of 2010 the market for organic foods grew to $14 billion. 2.5 Global warming (ecological) When the crops damage by weather, the price of that loss will increase the prices consumers payment. Scientists learning the matter of global warming for it are predictable lasting impact on food financial side. Spectacular climate changes crash give ways, and hence the food supply. To make up for this, farms on the going ingestion in technological process that help reduce loss. This extra cost for promote also figures into the last price of food. 2.6 Preparation Time Time is money. Another affecting economic factor is food lies in the hands of the cook. In formative range, many cooks must be acquainted with how long it takes to locate and prepare exact items. This particular propensity made fast food and instant mixes more and more popular, particularly in Subway or anywhere people work outside the house. Critically evaluate the strengths and weaknesses, taking into consideration all the environmental factors. SWOT analysis (S)trengths Subway Restaurants is the famous submarine sandwich franchise based in the United States and all over the world having companies in more than seventy two countries enclose over 20,532 restaurants in this planet. The business has been using a number of nontraditional channels for creation of its system physically powerful and the expansion rate of the company has also been rising. Subway has well well-known itself as a brand name in the fast food manufacturing world and having brand respect all over the world. Because of outstanding to its great strategies the company has turn out to be the most important franchise in the world in a very small phase of time. The company has still situated itself in places like hospitals, schools, churches, and famous retail supplies. This creates the start up price of franchises low. Subway is recognized to be companies that provide subs sandwich healthy and that are favored and to a great extent as evaluated to food items exist by other fast-food chains like Sonic Drive and McDonalds. The company has attached with the American Heart Association to add to its figure. The food menu of the Subway repeats the high persist of healthy and fresh food which is quick too. The new decoration of the companionship is an additional issue that provides a fresh feeling pinnacles the customers. Some of the newly introduced products imitate the healthy offering of the company. The marketing and promotional strategies adopted by the company are an example of the positive focus on demand, consumer preferences, trends, modernism and manufactured goods leveraging. These additional add to the potential to the company. The market share and the profits of the company that was outstanding to sandwiches greater than before greatly as a result to the reduced interest of the customer towards the chips and hamburgers due to raise consciousness about healthy foods. (W)eaknesses The adornment and give the impression of being of the franchises is said to be old an outdated. Another crisis with franchises is that the liking intensity of the customers is not the similar across franchises and also some franchises execute very poor. Service obligation is not reliable from store to store. This can supposed to be connected to employees as there is not much incentive and the revenue rate of the staffs is very high. (O)pportunities The company can spend extra money to expand its industry in the international bazaar and also make developments in its adornment and look to give confidence dine-in. By civilizing the customer service satisfaction for the customer can be greater than before, and also the loyal customer base will increase. The company can recover the relation inside and outside the organization by altering its strategys a bit. (T)hreats The company may face serious threats from some of the big fast food connection in the world which comprise brands like Wendys, KFC, and McDonalds etc. These restaurants are extremely older and have huge industrial trustworthy customer base over the years. The present financial recession is an additional threat for the business as it straightly affects the use and expenditure authority of the consumers. The information requirements at each of the levels in the management A large level our workers are serving our Supervisors who are serving our Middle Managers who are serving our Vice Presidents, who are serving the CEO, who is presumably serving the Board and the shareholders/investors. The extraordinary part is, by plan, also everybody has back to their customer or the client is actually supposed to serve the company! If customers are truly our focus, or as a effect, if we must focus on serving our workers so that they will serve our customers, A present fashion in sales organization design is to be buyer centric. The buyer centric sales mock-up puts the buyer at the middle of the sales procedure in an attempt to bring into line customers wants and buying first choices with the method we intend our sales tools and produce value. Adjoin this to our excellence customer service initiatives, the customer is always right announcements, and customer service surveys that were once rare, but now seem to have attached themselves via webpage to the bottom of every major grocer, retailer and restaurant chains receipts in fresh memory. Strategic levels Chief Executive Officer Management level Marketing Managers Finance Managers Production Manager Knowledge level Supervisors Operational level Employees Information systems at each of them to support the major business functions of the organization and strategize its operations giving it the required competitive edge. Examine and recommend IS to facilitate a healthy The information systems need to be reliable, sophisticated and user-friendly for Nestle. IS Information System [application of] effectiveness to focus on goals. An IS collects process stores analysis and disseminates information for a specific purpose Major 6 types of systems executive support systems (ESS) decision support system (DSS) management information system (MIS) knowledge work system (KWS) office automation systems (OAS) transaction processing systems (TPS) ESS / EIS Strategic level Inputs aggregate data (with drill down) processing -Interactive function-Monitoring key performance indicators E.g. sales, costs, profits, growth, share prices, capacity utilization users- Senior managers Characteristic of ESS / EIS expensive to develop executive information system provide timely concise information about organization to top managers provide internal as well as external information economic indices stock and commodity prices industry trends Decision support system (DSS) Management level Inputs low volume data Processing interactive Output decision analysis Users professionals staff Example contract cost analysis, outsourcing decision, pricing, decisions etc à ¢Ã¢â€š ¬Ã‚ ¦.. Key elements for DSS Models base Data base User Interface Business orientation What-if analysis End user makes changes to variables or relationships among variables and observe the resulting changes in the values of others variables Management information system (MIS) Management level Inputs high volume of data Processing simple models Outputs summary reports Users middle managers Example annual budgeting, quarterly sales reports, annual production reports Characteristic of MIS Structured and semi -structured decision Report control oriented Past and present data Internal orientation Lengthy design process Knowledge work system (KWS) Knowledge level Inputs- deign spaces Processing modelling Outputs design graphics Users technical staff Example engineering work station Transaction processing system (TPS) Basic business systems that serve the operational level A computerized system that perform and records the daily routine transaction necessary to the conduct of the business Point of sales system Executive information systems (EIS) Function: monitoring key performance indicators Users: senior manager Expensive to develop b) How information systems can be used to facilitate Customer Relations Management aspects of Nestle. Providing customer feedback forms, so customer can send feedback through URL also that will help to improve the organization Asking about customer requirements in general when customers call for problems automated record system can help to find out a solution in future Take action straight to customer feedback demonstrating how the company pay attentions to its customers heartening a service culture all the way through the association Companies also employ a wide variety of tactics to directly give confidence customer faithfulness through encouragements or special treatment. Some examples are Creating a point system that offers rewards once a customer accumulates a certain number of points supply discount or free-product coupons Running competitions in which regulars may win prizes by towards the inside a drawing Enormous customer service enlarges customer loyalty, forces income and decreases in force charge by using Information System. But, usual customer service applications frequently include only a portion of the information agents need to give great service. Because important information about customers, products and services sits in a huge amount of systems both inside and outside the business firewall, and in several forms such as database records, SaaS applications, text (letters, forms, email and chat messages, IVR scripts, blogs) and even voice recordings (call records). as long as inclusive, combined data access has to date just been too expensive and too complex. In addition, conservative customer service applications are too frequently hard to use, and operate with intolerable data latency rates and response dispensation times. FOCUS ON CUSTOMER LOYALTY The purpose of most well-developed customer relations programs is to turn one-time or occasional customers into loyal buyers. Customer relations specialists distinguish loyalty from satisfaction, noting that its possible for customers to be satisfied but have no particular loyalty. Indeed, one mid-1990s study found that three-quarters of the customers who reported being satisfied with one companys products still bought competitors products as well. The emphasis on loyalty is mostly driven by the bottom line. Keeping existing customers is cheaper than finding new ones, and having a base of loyal customers for one product or service improves sales for the companys other offerings. By some estimates, the amount a company must spend to attract a new customer is five or six times that needed to keep bringing back loyal customers. Repeat customers are also more likely to recommend the company to others and to try out the companys latest products. The financial results are that a small percentage increase in customer loyalty can translate into a significant rise in profits. The opposite of loyalty-customer turnover-can deplete a companys marketing resources and can signal weakness in the firms brand image or competitive position. However, high turnover does not necessarily mean that the companys underlying product or service is at fault. Rather, it may be the customers negative (or simply neutral) experiences and impressions that stand in the way of loyalty. In the late 1990s one executive went so far to suggest that happy customers would even buy bad products from a company they liked, whereas unhappy or indifferent customers might ignore a really good product. TOOLS FOR BUILDING STRONG RELATIONSHIPS Strategies for getting better customer relations and developing customer loyalty variety from just opening up communications channels to implementing elaborate point systems that reward loyalty. In order to be efficient, such programs and schemes must be tailored to customer requests and interests. For example, if a company devastates its would-be loyal customers with frequent mailings (or broadcast faxes or e-mail) consisting of unimportant or unappealing offers, it may be turning itself into a irritation instead of hopeful loyalty. 3) Ethical Issues Examine the ethical issues of Information Systems for this organization. Specific DSS benefits Improving individual effectiveness Expediting solving problem Make easy interpersonal statement Promoting training or learning growing managerial control EIS issues EIS Cost Employee Resistance to the EIS Management Resistance to the EIS Who is the user? sponsor for EIS Information Technology (IT) and modern management accounting Information technology has had a dramatic and far-reaching impact on the structure and conduct of business. IT has also been frequently poorly employed at great cost to companies. When implemented well, IT has made it possible for companies to exploit the benefits of: ABC systems E-commerce POS (point-of-sales) information to management and suppliers In many cases, the benefits of IT have been an increase in the accuracy of information and faster decision-making. A review of key IT with reference to business applications Executive Information Systems (EIS/ESS) Designed to provide senior management with easy-to-use information pulled out from internal and external sources Features: flexible, sophisticated, real-time responsiveness Management Information Systems (MIS) Designed to provide summarised information files used for management accounting and reporting purposes (i.e. reporting enabling management to make timely structured decisions for planning, controlling and directing activities) Structured decisions: recurrent and relatively simple decisions addressing repetitive situations in a deterministic environment Features: relatively inflexible, focused on internal processes Enterprise-Wide Resource Planning (ERP) Decision Support Systems (DSS) Individuals may reproduce this material if it is for their own private study use only. Reproduction by any means for any other purpose is prohibited. These course materials are for educational purposes only and so are necessarily simplified and summarised. Always obtain expert advice on any specific issue. Refer to our full terms and conditions of use. No liability for damage arising from use of these notes will be accepted by the ExP Group. Combine data and analytical models to support management decision making on issues which are exposed to significant uncertainty Provide the decision maker with alternatives, evaluating them under a range of possible conditions Expert Systems (ES) A form of DSS consisting of a specialised database and a set of rules on how input data should be correlated and interpreted in order to indicate the best course of action Example: loan application ES Ethical Issues An ethical approach to doing business is not just a matter of personal virtue, but needs to be addressed by policy (and action) at the company level as well. Ethical frameworks are not merely nice to have, but are considered crucial to building long-term professionalism. Their absence can undermine motivation and the sense of purpose a company must have in order to succeed.

Ageing Experience And Psychological Well Being Social Work Essay

Ageing Experience And Psychological Well Being Social Work Essay There are two potential determinates that might influence quality of life and psychological well-being of elderly people. Firstly there are the objective factors that are income, health, status and age and intuitively, usually having more of these things means greater quality of life. However, in various research based on happiness of the elderly people, objective factors are less powerful than one might expect as Lyubomirsky et al; cited in the research article titled Psychological Acceptance and quality Of Life in the Elderly,'(2007). The research suggested that objective factors account for about 8 to 15 % of the difference in happiness. So, Do people get less happy as they get older? and their well- being while ageing has been discussed by various researchers in order to define the concept of successful ageing but there is still a lack of consensus on what defines a successful ageing. The various researches on the relationship between old age and well-being have been at many time s assessed through life satisfaction, happiness and morale. 2.2 Theories of ageing In attempting to explain the ageing process and moreover the elderly experience with family support in this particular study, the theories of ageing, which describes the ageing process and what it implies will be taken into account. 2.2.1 Activity theory, developed by Havighurst and associates in 1953, asserts that remaining active and engaged with society is primordial to satisfaction in old age. The theory asserts that positive relationships in the aged individuals level of participation in social activity leads to life satisfaction as active aging equals successful aging. Activity can be physical or intellectual in nature so as to replace those interests and relationships that have been diminished or lost over time. This theory proposes that elderly people need to remain active in a variety of social spheres as for instance with family or friends because activity is preferable to inactivity as it facilitates well-being on multiple levels that is assuming that activity is vital to well-being. Activity theory proposes that social activity and involvement with others results in an increased ability to cope with aging, improved self-concept, and enhanced emotional adjustment to the aging process (Lee, 1985). 2.2.2 Disengagement theory was proposed by Cumming and Henry (1961). This theory states that aging is an inevitable, mutual withdrawal or disengagement; resulting in decreased interaction between the ageing person and others in the social system he belongs to (Cumming and Henry, 1961, p.2). Disengagement theory thus assumes that social involvement decreases with aging and that successful ageing is best achieved through abandoning social roles and relationships and by the individual reducing both activities and involvement. Proponents of this theory maintain that this separation is desired by society and older adults, and serves as such to maintain social equilibrium. While high morale is evident at the completion of the process, the transition is characterized by low morale. However, this theory has been strongly criticized by researchers who found a lack of evidence from older people disengaging from their surroundings. Whereas older people social relationships change and that they possibly have fewer ties, it was found that these relationships were often deeper and more significant. 2.2.3 The Continuity theory states that as elderly adults adapt to changes associated with the normal ageing process, they will attempt to rely on existing resources and comfortable coping strategies. This theory of aging states that older adults will actually maintain the same activities, behaviours, and relationships as they usually did in their earlier years of life. As older adults try to maintain this continuity of lifestyle by adapting strategies that are linked to their past experiences, decisions and behaviours will form the foundation for their present behaviour. Continuity of self which occurs in two domains: internal and external is thus important. Whereas internal continuity occurs when one wants to preserve some aspects of oneself from the past so that the past is sustaining and supporting ones new self, external continuity involves maintaining social relationships, roles and environments such that internal and external continuity are maintained, life satisfaction is hig h. 2.2.4 R.Weiss (1974) put forward a theory about provision of support from close relatives and relationships.  According to Weiss, these provisions reflect what we receive from relationships with other people. He maintains that the elderly require six main social provisions to maintain well-being and avoid loneliness. They are the assistance-related that is reliable person and guidance as well as non- assistance related one namely social integration, reassurance or worth, nurturance and attachment. These components provided by close relationships mainly provide and guarantee support to people as those people who lack the social support experience negative effects. He argues that individuals must maintain a number of relationships in order to maintain psychological well-being. Weiss holds that multiple needs must be satisfied by an individuals support network. In that respect, social provisions may be provided by friends but more often are provided by family members who are usually t he primary source of support in old age. 2.2.5 One of the first theoretical frameworks to focus on interpersonal relationships was proposed by Kahn and Antonucci (1980): the convoys of social relationships. They stated that social support is primordial to the individual in describing it to include attachment, roles and social support. Social support is viewed as interpersonal relationships that include these following components: affect affirmation and aid. Their basic idea is to view social connections and social support as a lifetime and ongoing set of relationships which generally serves to enrich, fortify and reassure people. The convoy model assumes that all people need social relations and that it is important because they have favourable effects on health and well-being. Despite being dynamic and lifelong in nature, Kahn and Antonucci suggest that losses and gains in convoys could have a variety of causes. It was hypothesized that social relations were more psychological than physical, and therefore, would affect psy chological or mental health, that is, depression, life satisfaction or happiness rather than physical health. (Antonucci, Fuhrer Dartigues, 1997; Fratiglioni, Wang, Ericsson, MAytan, Winblad, 2000) 2.3 Social Support My family has always been an essential part of my life, but the older you get; the more you feel how much you need each other. As long as you are together, it is like a growing tree the longer the tree is there, the stronger the branches become and the more you are knit into one. So, the more you are together, the more you realize how important it is to be together and stay together. -66 year old married father of two. (Cited in Family ties and ageing, Connidis, 2007, p3) Worldwide the family is the primary caregiver to the elderly. This reality transcends culture, politics and economic circumstances in spite of a wide variation in the way care is provided in different societies. However, almost everywhere round the world, support often flows in only one direction. Many older people receive financial help from their adult children but what about their help in terms of the social support in order to ensure healthy psychological ageing? Social support is defined as the individual belief that one is cared for and loved, esteemed and valued, and belongs to a network of communication and mutual obligations. (Cobb, 1976). Some experts suggest that social support provides a sense of connectedness to ones social group, which results in feelings of well being (Ryan. 1995). As people become old, social relationships often change and that they sometimes have fewer social ties, it was found that these relationships are often deeper and more meaningful to them, (Helmuth 2003). Maintaining relationships with their families and their friends is important to the vast majority of elderly persons. Rosenmayr (1968) found that, though they may not want to live with them, they do maintain contact with their children. Shanas (1967) found, in a study of elderly persons in three societies, that they generally live near at least one of their children. These relations seem to be at a large extent important, if not vital, to the elderly as the experience of ageing often requires them relationships and families support to evolve and adapt or cope with the challenges of the transition. Observers and various researches have showed that the loss of important relationships leads to feelings of emptiness and depression (Freud, 1917/1957; Bowlby, 1980). The interplay between relationships and various domains of life is complex as older adults reporting a greater number of social ties have been shown to have lower mortality risks, and both social integration and social support have been associated with mental and physical health outcomes (reviewed in Berkman 1995; Cohen Herbert 1996; Seeman 1996). Social support provided to the elderly parents by family members is thus proven to have positive consequences on the elderly in many ways. Moreover, a considerable number of researches show that social support is the key determinant of successful ageing (Rowe Kahn1998; Leviatan 1999; Unger et al, 1999; Seeman et al, 2001b). Persons involved with positive relationships are often less affected by everyday problems, are said to be more effective, and to act with greater sense of control or independence. Those without relationships often become isolated, cynical, mistrusting and depressed whereas those caught in poor relationships tend to dev elop and maintain negative perceptions of self, find life less satisfying. The usefulness of social support for dealing with illness has also been repeatedly shown, suggesting that a positive social environment encourages health and well- being whether or not stress is present. Social support is thus an important factor that may buffer the ill effects of stress on mental and physical health. 2.4 Lack of social support According to many researchers, the absence of social support is linked to various illness and poor quality of life in old age. Depression and loneliness are the most common in the elderly. Findings of depression and lack of social support are often interrelated due to the often inseparable nature of the two variables. There is also a clear link between chronic disease and depression, with those in nursing homes showing higher rates than those living in their own house. Depression as well as loneliness has been discussed by researchers and it was found that elderly people mostly suffer from these two major problems besides physical problems. The most firmly establishes link between of elderly parents and their psychological well-being in old age is that they basically suffer from loneliness and depression. Some research has shown that elderly individuals who have not maintained contact with family members are at a higher risk of developing depression, personality disorders and other c ognitive or behavioural issues. The physical as well as psychological state of the elderly parent is put at risk when he or she is not in contact with other individuals and especially the family. It is observed that if communication is done on a daily basis with family members, there is a better maintenance of the elderly psychological well-being as friends and family become often the sole support system for the elderly. According to American Geriatrics Society, depression can affect 40% of nursing homes residents in a given year which is often undiagnosed and untreated or treated as a normal component of ageing. A growing number of studies and articles have been published in that respect and shows how social support is beneficial to the elderly. For instance, there is a published thesis submitted in 2010 in Canada, titled Social support, loneliness and depression in the elderly. In this study, the association between loneliness and depressive symptoms was explored in 54 elderly residents living in both nursing and retirement homes out of 62 interviewed. The findings demonstrate that loneliness remained a significant risk factor for depressive symptoms, even after controlling other demographic variables such as age, gender, length of stay, time of interview and institution. This finding is consistent with a qualitative study by Barg et al. (2006), which suggests that loneliness in older adults is closely tied to depression. In this particular study, the author found that loneliness is easily mapped onto standard assessments of depression and hopelessness in the population, thus showing strong correlation between loneliness and depression. The Evaluation of depression in elderly people living in nursing homes, involving 35 people by Aribi L et al; publishes in October 2010 in Tunisia had for main aim to determine the prevalence of depression in old people living in a nursing home and to evaluate the degree of their autonomy. A descriptive and analytical survey was carried out on 35 old people at a nursing home in Sfax, Tunisia. The study was evaluated by using two scales specific to the geriatric practice: The scale of depression: GDS (geriatric depression Scale) applied to 30 items and the scale of autonomy: IADL (Instrumental Activities of Daily Living). Results were as such the examined population was composed of 35 people aged from 65 to 9, 51.4% of the residents were in a state of depression. Depression was more frequent in female subjects however (58.8% of women compared to 44.4% of men and it was concluded that depression in the elderly is related to several depressive factors particularly for patients living in institution. Anxiety and depression are thus very common in elderly living in nursing homes. Studies have shown a relatively low prevalence of anxiety disorders in older individuals but that among elderly, anxiety disorders occur two to seven times more often than depression problems. The rate of anxiety disorders may be even higher among elderly living at institutional settings. Another study which support that view is that of study Anxiety and Loneliness in Lone Elderly done by T.T.A Rahman which evaluated the prevalence of anxiety and depression in lone elderly living at their own homes and those going to geriatric clubs regularly or living at geriatric home. There was 164 lone elderly participants from geriatric clubs named group I and 168 lone elderly participants from geriatric homes, group II were included in this study. Hamilton Anxiety Scale and Hamilton Depression Rating Scale were used for detection of anxiety depression respectively. Results were as follow: The co-occurrence of anxie ty and depression is 34.1% 57.1% in group I and group II respectively, while depression is actually 22.0% 23.8% and anxiety is 2.4% 1.2% in group I group II respectively. Living at geriatric homes and age group 60 to 70 are independent risk factors for anxiety, depression or mixed anxiety and depression. It was concluded that lone elderly, living at institutional settings such as geriatric homes is an independent risk factor for anxiety, depression or mixed anxiety and depression. Mixed anxiety and depression is more prevalent than anxiety or depression per se. Another survey conducted by Agewell Research Advocacy Centre released by the Canadian Institute for Health Information recently, found that about one in four (26 per cent) seniors living in a residential care facility, such as a nursing home or long-term care home, had been diagnosed with depression. A further 18 per cent had symptoms of depression but had not been diagnosed. Many of these residents dealt with persistent anger, tearfulness and repetitive anxiety, yet had not received a diagnosis. The problem is a serious one because, as the researchers note, depression can have serious effects on a seniors medical condition, their emotional state and general quality of life as seniors with symptoms of depression are more likely to display aggressive behaviour and may be three times more likely to have sleep disturbances while having difficulty to communicate. Different factors can contribute to the development of a depressive disorder that may include feelings of hopelessness, self- blame and loneliness, possibly accompanied by physical symptoms such as poor sleep, decreased appetite and lack of energy, often leading to social withdrawal. The researchers note that there is a perception that depression is a natural part of aging. Thats because a number of factors associated with late-life, depression is common among older people, such as: illness, loss of family, friends, social support or independence. But they note that depression can shorten lives. In studies of the effects of depression on seniors, the odds of dying were 1.5 to 2 times greater in elderly people with depression compared to those without. According to  Himanshu Rath, Founder Chairman of Agewell Foundation,  Depression is quite common among many of the people, particularly in old age. It is a major social challenge that cannot and should not be ignored. However, to fight Depression in Old Age, both the suffering older persons and the family members need to join hands and work together to bring back the golden happy times, from a Survey on Depression in old age published in September 18, 2010. 2.4 Rationale of the study There are many researches as such that have examined the importance of single, close, personal relationship related to elderly people which put forward that family support acts as a buffer against psychological illness. Family support promotes higher morale and lower levels of loneliness and social isolation in old age. Older people who lack confidants report more psychological distress and higher rates of depression (Hays et al. 1998). It is thus true on one hand that relationship and especially with family is important for older adults as social isolation may be devastating especially in old age but on the other hand can social relationships have negative impacts on people? Although a great deal of research have focussed on the positive effects that social support can have on adults, recently researchers have urged greater attention to the negative side of informal relationships. Since Rook (1984) demonstrated that social relationships can adversely influence the psychological well -being of older adults, several investigators have examined the effects of both positive and negative social ties in later life. (Ingersoll-Dayton, Morgan Antonucci, 1997; Okun Keith, 1998). Furthermore, in considering that the closeness and mutually supportive relationships that many adult children and elderly parents share may make the latter happier than those who do not have children, research on this issue has consistently demonstrated that individuals who are childless are as happy and well-adjusted as are parents, even in the later years. As people who are sixty-five or older and do not have children are more likely to report advantages than disadvantages of childlessness. Individuals who have remained childless have been found to develop social networks that compensate for the absence of support from adult children in terms of friends as some studies suggest that friends are more important than family to morale and well-being of the elderly (OConner, 1995). A realatively p opular research topic has been the well-being and resources of childless elderly. It seems safe to conclude that these people are at least as happy as older parents, andthat they are able to find alternate sources of emotional and instrumental support for their need (Beckman Houser, 1882; Johnson Catalano, 1981; Keit, 1983; Kivett Learner, 1980). The research put forward that instead of presence or absence of children, factors such as marital status, health and economic well-being are more strongly linked to the morale and life satisfaction of the older people. As Hoff and Tesch- Romer ( 2007: 77) has described: the relative importance of family relations and family support in contemporary societies may have diminished, but as empirical findings of many studies into the subject have shown, family relations have remained a reliable and stable source of support. For the majority of elderly people, ties with their children represent the most important component of their family network and social support. Since ageing is becoming an important aspect in the Mauritian context and that many studies relating to old age and relationships have not been conducted at the local level, it deems to be important to infer about the contributions of family support to the older persons psychological well-being.