Biography of Karl Marx Essay -- biographies Biography Karl Marx Essays

Biography of Karl Marx Few names evoke as strong a response as Karl Marx. Some consider him a genius and a prophet, while others see only evil in his ideas. Everyone agrees that Marx stands among the social thinkers with the greatest impact on the world's people. There are many people who pass into and out of our lives. It is those great people that are remembered forever. One great person is Karl Marx. He is an extraordinary person that has changed and shaped the way of the future. Marx had many great experiences and achievements throughout his lifetime for which he is remembered. On May 5, 1818, Karl Marx was born to father, Heinrich Marx, and his wife, Henriette. Karl was born in Trier, Prussia, where he lived throughout his childhood. His father was a lawyer and his family lived among the â€Å"petty-bourgeoisie.† 1 The bourgeoisie at this point in time was considered the middle class in society. The Marx family was Jewish, but later converted to Protestantism in 1824. In October of 1830, Marx enrolled at the Trier Gymnasium. At Trier Gymnasium Marx obtained his high school education. Following graduation from Trier, he decided to continue his education and go on to attend Bonn University as a law student in October of 1835. Here, Marx studied for only several months, and then enrolled at Berlin University in October of 1836. At Berlin University he also studied law, but majored in history and philosophy. While attending Bonn University, Marx decides to propose to Jenny Von Westphalen in the summer of 1836. Jenny Von Westphalen was Marx's love of his life. The two of them had played and grown up together throughout their childhood. According to Eleanor Marx, â€Å"Karl wai... ...in Neue Zeit 1897 <http://www.marxists.org/archive/marx/bio/marx/eleanor.htm> (29 October 2001) 3. Marx 4. Lenin 5. Thomas, Paul, â€Å"Nature and Artifice in Marx,† History of Political Thought [Great Britain], 1998. 485-503 (29 October 2001) 6. Thomas 7. Thomas 8. Engels, Frederick, "Karl Marx," in Die Gartenlaube 1868 <http://www.marxists.org/archive/marx/bio/marx/eng-1869.htm> (29 October 2001) 9. Lenin 10. Lenin 11. Unknown, "Draft of a Speech at the Graveside of Karl Marx," in La Justice 1883 <http://www.marxists.org/archive/marx/works/1883deat/justice.htm> (29 October 2001) Links: www.philosophypages.com/ph/marx.htm http://www.maoism.org/marx/marx_idx.htm www.stud.unisg.ch/~ajaritz/marx/marxh.htm www.lucidcafe.com/library/96may/marx.htm www.xs4all.nl/~aboiten/marx.html

My Generation Essay -- essays research papers

My Generation   Ã‚  Ã‚  Ã‚  Ã‚  Every group receives a name, whether it is a club or organization, plants, animals or people. No matter what it is, it will receive a label so that it can be referred to easily. For instance, those born between the years 1977 and 1997 were given the title of the â€Å"Digital Generation.† This label was attained because of the widespread technology that is available to them from birth. The â€Å"Digital Generation† is not only about the Internet and technology, but is also about high values, a strong belief in self-expression and spirituality.   Ã‚  Ã‚  Ã‚  Ã‚  The values of past generations have been very self-centered. Yet â€Å"Generation D†, as it is called, believes in equal rights for all and a strong connection with family and friends. Yet they are so materialistic that the older generations see them as â€Å"floozies with credit cards.† This is one of the reasons why there are so many equal rights activists today. Never before has there been such a range of reasons to stand up for ones right. For instance, there are so many organizations to stop violence against people; race, creed, sexuality, gender, nationality, etc., are irrelevant. Today’s youth is acquainted with many different people, but they only share close connections with a select few. A person of this generation will know many people and be friendly with them, however the personally association is only present with the people that have been known for an extended period...

Org Behaviou

Table of Contents 1. 0 Introduction2 2. 0 Initial Situation – Case Analysis2 2. 1 The History of Bristol-Myers Squibb (BMS)2 2. 2 Peter R. Dolan3 2. 3 What is Plavix? 3 2. 4 Plavix Generic Drug Agreements4 2. 5 Dolan’s Fate5 3. 0 Questions and Answers6 3. 1 Q1) What principles of distributive Negotiation did Sherman use to gain his advantage? 6 3. 2 Q2 ) Do you think Sherman behaved ethically? Why or why not? 7 3. 3 Q3) What does this incident tell you about the role of deception in negotiation? 9 4. 0 Conclusion10 1. 0 Introduction All organisations form an integral part of the global village. Therefore organisations have become open systems due to deregulation, ever changing technology, lifestyle and demographics. In order to be triumphant in today’s dynamic environment organisations need to focus on the environment it operates in and have to react swiftly to the changes that occur by developing negotiation strategies to stay ahead of competition. Strategy is embedded in any organisations planning process and without strategy the organisation will become a candidate for acquisitions or would become extinct. In this report we have analysed the case of â€Å"DAVID OUT-NEGOTIATIONG GOLIATH: APOTEX AND BRISTOL-MYERS SQUIBB†, which is based on a real world scenario about the survival of two giants of the pharmaceutical industry at stake. Our main objective is to analyse the main conflicts and negotiation issues which have arisen during the negotiation process between the two giants and also to look at how their internal objectives have driven them to the final result. Therefore, we present some more external information about the elevant case to get a better background knowledge, and also we have analysed the main issues by answering the questions which have been brought up in the case. 2. 0 Initial Situation – Case Analysis 2. 1 The History of Bristol-Myers Squibb (BMS) In early 1887, William McLaren Bristol and John Ripley Myers invested $5,000 into a failing drug manufacturing firm located in Clinton, New York. The company was officially incorporated on December 13, 1887, an d in May 1898 changed its name to the Bristol, Myers Company. According to the records Bristol-Myers merged with Squibb in 1989 and created a global leader in the health care industry as â€Å"Bristol-Myers Squibb (BMS)†. By this merger it created the world’s second-largest pharmaceutical enterprise. (http://www. awpagesociety. com/images/uploads/Case_FINAL3. pdf – Accessed on 21, March 2011) Today, Bristol-Myers Squibb has become one of the leading worldwide provider of anti-cancer therapies as well as a leader in the discovery and development of innovative treatments to fight heart disease, stroke, and infectious diseases including HIV/AIDS. (http://www. awpagesociety. om/images/uploads/Case_FINAL3. pdf – Accessed on 21, March 2011) 2. 2 Peter R. Dolan Peter R. Dolan has received his BA from Tufts University in 1978, and his MBA from Dartmouth College in 1980. He began his career at General Foods from 1983–1987, but by 1988 had transferred to BMS as Vice-President of Marketing. Dolan was named CEO in Februar y 2001 and made Chairman of the Board in 2002. He was infamous within the company for setting â€Å"Big Hairy Audacious Goals†, such as his 2001 promise to double BMS revenues within five years. He regretted about that particular statement, as 2002 sales totalled came down from $18. billion, which was 1% of a decrease from 2000. (http://www. awpagesociety. com/images/uploads/Case_FINAL3. pdf – Accessed on 21, March 2011) 2. 3 What is Plavix? Plavix was a FDA-approved anti-platelet daily medication that reduces the risk of heart attack. Plavix was brought to market through a partnership between Bristol-Myers Squibb and French drug maker Sanofi-Aventis, the world’s third largest pharmaceutical company and the largest in Europe. Plavix 2005 global sales were $5. 9-billion, up more than 15% from 2004. According to Pharmaceutical Business Revenue and Data Monitor, sales were expected to peak at $6-billion in 2011. http://www. awpagesociety. com/images/uploads/Case_FI NAL3. pdf – Accessed on 21, March 2011) 2. 4 Plavix Generic Drug Agreements In July 2006, BMS announced that the U. S. Justice Department was investigating the company’s March 2006 agreement with Canadian generic drug manufacturer Apotex. The agreement was intended to delay the Apotex’s release of an inexpensive generic version of Plavix. Under the terms of Bristol-Myers’ ill-conceived agreement with Apotex, BMS offered Apotex $40 million to halt production of the generic Plavix until June 1, 2011. This date was five months before the Plavix patent was set to expire. Bristol-Myers also agreed not to release its own non-branded Plavix until six months after Apotex began to sell its generic version of the blood thinner. When asked to approve the agreement, the U. S. Federal Trade Commission (FTC) and state Attorneys General objected to these provisions. They labelled the Bristol-Myers concession anti-competitive because it assured that Apotex would be the sole market vendor of cheap, generic Plavix for at least six months. So, Bristol-Myers Squibb agreed to remove the anti-competitive provision from the contract. Nevertheless, the FTC began questioning Apotex regarding the revised agreement. During these questioning sessions, Apotex told the federal regulators that Bristol-Myers had given Apotex private assurance that it would not release a general version of Plavix to the market. (http://www. awpagesociety. com/images/uploads/Case_FINAL3. pdf – Accessed on 21, March 2011) When the agreement did not receive approval, Apotex quickly introduced its generic version of Plavix (which had obtained FDA approval earlier that year), and the drug became universally available in August 2006. Apotex priced the generic version at an estimated 10 to 20 percent discount. Apotex’s generic Plavix quickly gained 75% market share of new prescriptions. Within the month, Bristol-Myers Squibb was able to get a United States District Judge to order a temporary injunction halting further sales of the generic Plavix. However, the judge did not order a recall of generic Plavix. The District Court ruled that Apotex had the legal right to sell its generic version of Plavix. (http://www. awpagesociety. com/images/uploads/Case_FINAL3. pdf – Accessed on 21, March 2011) After only one month of generic Plavix competition, BMS was forced to reduce its 2006 earnings forecast by 25%. Bristol-Myers’s reduced per share earnings estimate was below the company dividend, meaning that Bristol would be paying more to shareholders than it actually earned. In sum, over the five years of Dolan’s tenure, the stock price of Bristol-Myers Squibb had declined by over 60%. (http://www. awpagesociety. com/images/uploads/Case_FINAL3. pdf – Accessed on 21, March 2011) 2. 5 Dolan’s Fate On September 12, 2006, CEO Peter Dolan and General Counsel Richard K. Willard were dismissed by the Bristol-Myers board. Dolan was replaced on an interim basis by James M. Cornelius, a Bristol-Myers director and former executive at Guiding Corporation. (http://www. awpagesociety. com/images/uploads/Case_FINAL3. pdf – Accessed on 21, March 2011) 3. 0 Questions and Answers 3. 1 Q1) What principles of distributive Negotiation did Sherman use to gain his advantage? Negotiation occurs whenever two or more conflicting parties attempt to resolve their divergent goals by redefining the terms of their interdependence. In, Other Words, People negotiate when they think that iscussion can produce a more satisfactory arrangement (at least for them) in their exchange of goods or services. ( McShane and Travaglione , 2003) A distributive negotiation is a type or process that normally entails a single issue to be negotiated. The single issue often involves price and frequently relates to the bargaining process. Also referred to as ‘Win – Loseâ€⠄¢, or ‘Fixed – Pie’ negotiation because one party generally gains at the expense of another party. (http://www. negotiations. com/definition/distributive-negotiation/) – Accessed on 27, March 2011) Despite the fact that BMS and Apotex entered the negotiation process, with the primary goal of achieving a ‘Win-Win’ situation which will lead to an integrative negotiation. However according to our analysis we feel that the negotiation ended on a ‘Win- Lose’ note, resulting in a distributive negotiation. Dr. Barry Sherman (Apotex) when negotiating with BMS, has used following distributive negotiation principles in order to achieve his Goals. Goal – In this case scenario, Dr. Sherman wanted to direct the negotiation in a way that would maximise his benefits as much as possible. As an example, Dr. Sherman inserted a clause in the deal that would require the BMS to pay Apotex $60 Million â€Å"IF† FTC rejected the deal. Motivation and Focus – When engaged in distributive bargaining one’s tactics are to focus on getting one’s opponent to agree to one’s specific target point or to get as closer as possible. (Robbins, 2005) â€Å"I Win, You lose†- where Apotex’s win is at the expense of BMS. Further it could be noted that the outcome of the negotiation falls outside the BMS’s resistance point indicating a total victory for Dr. Barry Sherman and Apotex . The two Company’s being opposed to each other is another distributive negotiation characteristic seen throughout the situation where BMS’s goal in this negotiation is to delay the launch of Apotex’s generic competitor, where as Apotex’s / Dr Sherman’s motive being its opposite. Information Sharing – In this negotiation process information sharing was low. This was evident through the clause inserted in the deal, and also by Dr. Sherman not disclosing the preparation of launching the generic product before the agreed date. Duration of Relationship – It is visible that the focus of the relationship between BMS and Apotex was â€Å"Short Term† mainly due to fact that Dr Sherman was aware of FTC’s decision and the impact that would have on the negation process. 3. 2 Q2 ) Do you think Sherman behaved ethically? Why or why not? The answer to this question depends on a person’s values, culture, and the situation. What might be acceptable in poker would probably not be acceptable in most business situations. What might be acceptable in New York might not be acceptable in Ottawa. Different cultures and different situations contain inherent â€Å"rules† about the degree to which bluffing or misrepresentation is deemed acceptable. (**** I have attached another PDF – this part is from that article) According to what we see, it’s not ethical to lie in a negotiation, but according to research 28% of negotiators lie about a common interest issue during negotiations, while another study found that 100% of negotiations either failed to reveal a problem or actively lied about it during negotiations if they were not directly asked about the issue. Therefore we have an issue to recognize, when is a lie a lie? Some argue, when exaggerating, downplaying negatives, ignoring flaws, or saying â€Å"I don’t know† we are lying, but today most businessmen look at this, not as unethical practices, but rather as indicators that a negotiator is Strong, Smart, or Savvy. (Robbins, 2005) When we look at this scenario, we can’t agree that Dr. Sherman’s behaviour is ethical; during the negotiation process he was indicating a trustworthy long term relationship towards BMS and indirectly influencing BMS to take certain actions emotionally (for example : carrying out the negotiation at certain times without attorneys ). However in the meanwhile he gets ready to launch the product, which clearly explains the unethical behaviour and his attempt to misguide BMS. Further, another factor to be noted at the same time is if we want to survive in this highly competitive world, we have to be SMART enough to be professional and BMS being the initiator to the negotiation, should have known exactly what they signed. BMS being a large organisation, having the capacity, should have done their ground work prior going for the negotiations. Further, they could have appointed a negotiation panel rather than a one person, which would have increased the chances of winning. The question arisen is why BMS’s industry knowledge and experience didn’t warn them about the FTC decision. This clearly explains poor preparation and their underestimation of Dr Sherman’s negotiation tactics. We believe, Dr Sherman was being technically correct, that does not justify his behaviour as ethical. The question to argue is the acceptability of the tactics used by Dr Sherman in improving his chances of winning. We believe that winning a business negotiation is important, but winning by deceiving the other party is unethical. 3. 3 Q3) What does this incident tell you about the role of deception in negotiation? ‘Deception' is the use of false arguments that leads the other person to an incorrect conclusion. We can see these types of scenarios every day in business world, because when doing these types of important negotiations, we have to make sure, that we have our goals in the sight and work towards achieving it with a well planned process, without getting carried over with emotional bonds or friendships. The BMS vs Apotex negotiation shows misrepresentation occurring in a negotiation, where a person deliberately takes a position on something which is not true in some way. Dr. Sherman deliberately misleads BMS showing them that, he is carrying out negotiations in order to come to a conclusive decision of delaying the launch of the generic product. However, while negotiations are being carried out, Dr Sherman plans to market and launch the generic product deceptively. By use of false arguments and providing not rue information, Dr Sherman misguides the other party in negotiation for a settlement offer. While showing an objective of achieving a â€Å"Win – Win† solution, indicating a trustworthy relationship (which leads the executive of BMS, Bodnar keeping their attorneys out of the discussion in many instances during the negotiation process). Further Dr Sherman including a clause in the deal that would require BMS to pay Apotex $60 Million if FTC rejects the deal, believ ing that FTC would, further explains the deception in this negotiation process. A point to be noted is certain practices carried out by BMS was not professional (example Bodnar keeping the attorneys out of the negotiation) which might lead to further deception. BMS objective was to create a favorable position for themselves by trying to make Dr. Sherman agree to their conditions. Deception plays a major role in this negotiation process. Even though BMS and Apotex entered into negotiation with an objective of coming into a conclusive decision of delaying the launch and the settlement offer. However, the outcome of the negotiation was totally dependant on the deception played by the people involved in the negotiation and the negotiation process had a less impact on the final outcome. 4. 0 Conclusion In today’s context, negotiation plays a vital role in any business organization and its challenges are growing. Every organization has their own goals to achieve, therefore it's important to discuss and resolve conflicts arising by divergent goals. Negotiations are often complex, hence always demand preparation. Lack of preparation and not following a proper process will result in adverse and unexpected results. We can clearly see in the above analyzed Apotax vs BMS case, how important is to pay attention and how well we have to know the rules to play well in the field of negotiation, because even a small mistake can change the end result to a greater extend. We can see lot of similarities between this case and the story David vs. Goliath. As we know David was just a lad, representing the Israeli army and was confronted by a giant Goliath, representing the Philistine army. David managed to strategically defeat and destroy the giant Goliath. When relating the case and the story, Apotex (David) was approached by a corporate giant – BMS (Goliath) to delay the launch of a competitive substitute. Goliath attempted to negotiate an agreement to hold back competition in the market. To be successful, David had to not only get their product into the market, but also to outnumber the giant. This deal brought a huge win for David, because he was able to examine the issues and identify the opportunities he could gain from this negotiation and also he always had a clear goal and a vision to reach it. So in the end, David successfully launched Plavix generic product and capitalized on the downfall of Goliath to build Apotex's market share. In the above case, Goliath (BMS) forgot that they were involved in a business negation, and got carried away with emotions and wanted to have a long term business relationship with David (Apotex), which David used to his advantage. As professional business people we should always predict the worst possible outcome as well, before getting into this type of an immense business deal which involves lot of money, market share and specially reputation. Which affects the business bottom line and in turn risking stake holder funds or returns) MBS was over confident in going to the negotiations, because they thought they are a large company, as we see size does not matter, it’s what strategies you use to negotiate and you attentions to details and how well you prepare, that matters. BMS had the resources to win the negotiation, but was not prepare d to use them effectively and efficiently, that’s where they lost. Before getting in to a negotiation, we have to look at all of the implications of a deal, both for the one’s self and the related party. To be successful, a deal has to make a ‘Win – Win’ situation to the both the parties. But here, Goliath never considered about the economic reality, planning or preparing a negotiation agenda and also entered to the negotiation processes even without carrying out a proper background research. Today, we all go through negotiation in day-to-day life, because it has become a technicality which we use in a daily basis. So, when it comes to these types of immense deals, we have to make sure we follow a proper negotiation process which involves major steps of negotiation such as, preparation and planning, definition of ground rules, clarification and justification, bargaining and problem solving, closure and implementation. And also at the same time we should ensure that we make no mistake on our way forward achieving our objective. Further a factor which needs to be kept in our mind throughout our negotiation process is to achieve our goal in an ethical manner making sure we keep no space for others to deceive us. — END OF REPORT – –

Changing Your Social Class Essay

Social stratification is a ladder of positions with respect to economic construction which influences the social rewards to those in the positions (â€Å"Questions on Social Stratification†). With that, a person may belong to a specific class while being part of the whole society. Social class means the existence of sharing among the people of similar status with respect to wealth, power and prestige. For a layman’s understanding, social class refers to being rich or poor as regarded by the society. A concrete example of this is a situation wherein a person’s social class has changed overnight, where he suddenly becomes homeless. That situation happens to me, and I could say that at that particular moment, my life has changed drastically and dramatically. The privileges that I experienced when I am still rich were lost when I become suddenly homeless. In addition, my opportunities in life also changed when I become poor. While I am still in a higher social class, I do not need to work hard just to earn a living. At that time, I can hire people to work for me and help me to improve my life’s station. But when I become homeless, everything was altered such that I cannot even afford to pay all my basic commodities like food, shelter and clothing. For me, there is always shortage of food when I am already in the lower social class. My family is suffering so much since we need to share a little amount of food everyday. All we can do is to think of those times that we enjoy eating all the food that we want. Since I become homeless, seeking for a good shelter is a problem. I realized that living in the streets is possible. I learned to look for places where squatters stayed. Aside from that, my clothing materials are not enough to keep me warm all day. I need to ask help from those who have enough clothes and request for old but clean and usable clothing materials. With all these hardships that I encountered, people view me as living in extreme poverty. Moreover, the opportunity to work is limited since those people who knew me before no longer consider me as a friend. Yet, I tried hard to find a job just to earn a living. Although people view me recently as poor, I need to work hard and show to them that I am worthy for a decent living. I will work hard for me to rent a house for my family. While it is true that housing costs pose the biggest obstacle for low-wage workers, I also believe that there are realistic solutions to the lack of affordable housing. The government is the only hope for the poor people to help them have their own homes. What the government should do is to facilitate a housing project that offers an affordable housing loan to low-wage workers. The government may also provide homes for the homeless in such a way that presence of perennial squatters will be lessened.   In that way, those who are living in poverty will have the chance to work hard and pay for a simple yet decent home. As a worker, having a work system that does not offer benefits like overtime pay, retirement funds, and health insurance is not fair. The workers should be given good working conditions as they are considered the strength and backbone of the economy. Besides, the request for an increase of salary for workers is not the solution for lack of benefits. Both provision of benefits and increase of salary for workers is necessary things that a worker must have in the society. It is but fair for workers to receive compensation that could improve his station in life and escape from extreme poverty. Therefore, an increase of salary for workers could not redress the lack of benefits for them such that it is completely a separate problem. References Sociology Guide. (2006). Questions on Social Stratification. Retrieved November 11, 2008, from http://www.sociologyguide.com/questions/social-stratification.php.

Causes And Effects Of Traffic Congestion Tourism Essay

Causes And Effects Of Traffic Congestion Tourism Essay Jain, Sharma and Subramanian mentioned that congestion in the United States has increased dramatically since the last twenty-five years, which is the same as many countries that suffering from traffic congestion currently. From the authors’ prospective, one of the major causes of traffic jam in the most cities is ‘poor road traffic management system’. Increasing of traffic congestion every year is causing increasing of air pollution, wasting of time and productivity and causes diverse diseases such as, respiratory diseases. Moreover, the cost of solving or reducing traffic congestion is enormous. However, neglecting the traffic jam problem would increase the social problems among citizens. The next part of this essay illustrates many causes of traffic congestion in different cities around the world, and the effects of these causes on the environment. Furthermore, the solutions that solved the traffic jam problem, and the suggested solutions that could help to red uce the congestion in some cities. Causes and Effects This part of the essay demonstrates many causes, effects and possible solutions of traffic congestion problems. 1. Los Angeles (USA). Causes and Effects: One of the main causes of traffic congestion in Los Angeles (United States of America) is ‘car culture’, which means many people in the city or county owned private cars (Thisdell, 1993). Additionally, the land-use pattern is an important reason that makes people in Los Angeles were using private cars widely and made transport planning difficult. Furthermore, traffic congestion increased due to no underground railway and public transport in Los Angeles. Moreover, the high numbers of vehicles, which are a result of overpopulation and the economic growth, and the weak of public transportation, have a negative effect on the environment such as air pollution, which happened on Saturday when commuter traffic is insignificant. Sorensen (2009) illustrated many reasons that make Los Angeles have traffic congestion such as ‘Common misconceptions’ and ‘high regional population density’. As an example of common misconceptions, people in Los Angeles love cars’ driving, which means the relation between people and their cars is very strong and described as love’s relation. As an example of ‘high regional population density’ is drivers were not consider roads as a problem of traffic congestion. Sorensen said that high population and some of the other factors that aforementioned could also make the traffic jam worse. Solutions: Thisdell (1993) mentioned that Los Angeles County transportation committee said creates more roads for cars will not solve traffic congestion problems, with increasing numbers of people and vehicles. Also, traditional public transport such as buses will be more effective in limited areas only. The committee suggested that ‘Metro’ system, which is a complete project of pu blic transport including underground railways, buses and developing motorways. It is clear that, the system has many advantages such as reducing time loss, increase productivity and cut pollution. However, the cost of making just the first part of Metro project was $1.35 billion. In addition, there are some threats to human life such as, gas and earthquakes. Sorensen (2009) mentioned about some short strategies that can solve traffic problem in Los Angeles such as, encouraging people to use ‘ride-sharing’ and bicycles, improve the system of controlling the traffic light and make it more efficient, which are inexpensive solutions but very effective and eco-friendly. The other solution is ‘Peak -hour road pricing’ which make people pay some money to drive on specific roads at specific period of the day Downs (2004). This solution makes roads expensive and avoids traffic congestion at peak hours.

HCM367-0801B-01 The Health Care Organization - Phase 1 Individual Essay

HCM367-0801B-01 The Health Care Organization - Phase 1 Individual Project - Essay Example We have managed to tackle the hurdle of offering better health care at affordable prices to our beneficiaries. Our associates and staff are working relentlessly on the guiding principles set by the Senior Leaders of VPP and VH. Over the period of time, we have been able to develop a strong network of physicians, business owners, health care suppliers and beneficiaries. Now, we need to think ahead and bring some transitions by bringing technological support and integration of VH and VPP for changing times. We need to redesign some of our business plans and health care delivery system without harming the core values of the organization. Health care industry is amongst world’s most advanced sectors, both, scientifically and technologically. Advancement in technologies provides long term benefits for our beneficiaries, associates and us. At the level of care delivery, the technological support can built better patient management plans - Evidence based medicine. It will also support us in promoting better health and decreasing mortality rates. With the help of technological support, we can venture into clinical venues by bringing changes in physician practice, ER Department and Other Departmental requirements and long term care. The technological support can help in sustaining the Revenue Cycle at better pace by Audits at regular terms, access to patients’ financial management and accounts receivable. (2). The success of VPP and VH is due to the outstanding business planning of the senior leaders and also the staff and associates. In this changing time, we need to develop ‘Participative Management’. In the words of John Schuyler, â€Å"A culture of trust where there is ready access to information needed to do one’s job; not necessarily all company information, but sufficient for employees to gauge company performance.† (3) The dynamic role of CEO and CFO will be to initiate and evaluate effectiveness of participative management. Other Senior

The Federal Reserve System Term Paper Example | Topics and Well Written Essays - 2000 words

The Federal Reserve System - Term Paper Example Its major mandate is to regulate the monetary policy in the country in order to support the broader economic objectives of economic stability, low inflation as well as the unemployment level. President of United States of America appoints the chairman of the Fed along with the seven members of the board of governors. Board of governors is required to serve for the period of 14 years however; the approval of the Congress is required in order to give legal credence to the appointment of the members of the Board. This paper therefore will discuss Fed, how it operates, and its role in the future monetary policy besides discussing its structure and broader objectives it is required to achieve. The Role of Central Bank Before discussing The Federal Reserve System, it is important to present a discussion on the role of central bank within the economy and how it supports it. There are three important tasks or functions of a central bank within an economy i.e. to issue currency notes, regulate monetary policy as well as control the inflation. Based on these broader objectives, a central bank therefore also serves as the banker of the government and serves as lender of lost resort for the banking system in the country. Its role is therefore not just limited to the management of monetary policy within the economy but also to ensure that the whole financial system remains stable and intact. (Blinder) The overall primary function of a central bank is to regulate the monetary policy of a country however, there are also other functions also including managing interest rates within the economy , ensuring that inflation remains within the acceptable level and issuance of currency notes as legal tenders. Managing the level of unemployment at a certain level is also one of the key tasks of a central bank. The recent economic downturn could have resulted into the overall collapse of world financial system however, timely intervention from the central banks of different countries ensured that the financial system remains intact. During the current phase, different central banks therefore took steps which were not traditionally related with the central banks. Steps such as quantitative easing, injecting liquidity into the financial institutions resulted into the complete aversion of the collapse of whole financial system. The Federal Reserve System The Federal Reserve System or Fed is the central banking system in United States of America and was formulated during 1907. Over the period of time, the roles and responsibilities of the Fed as a central bank of the country have also evolved and Fed is now considered as one of the most advanced central banking systems in the world. (Greider) It is to be noted that the Fed as a system evolved as a resulted of the enactment of different laws which gave different powers to Fed. Over the period of time, the overall independence of Fed as a monetary policy authority within the country has increased and Fed is now completely independent in taking its own decisions without significant intervention from the Government or any other body of the State. Fed was initially formulated in order to tackle the initial issues faced by the US economy due to wider fluctuations. However, its role was further broadened and expanded in the wake of the