Bank Management Chapter 7

Suggested end-of-Chapter Practice Questions: Chapter Seven Chapter 71, 2, 3, 7, 11, 13, 19, 22, 29, 32, 33, problem similar to HW 1. What is the process of asset transformation performed by a financial institution? Why does this process often lead to the creation of interest rate risk? What is interest rate risk? Asset transformation by an FI involves purchasing primary assets and issuing secondary assets as a source of funds. The primary securities purchased by the FI often have maturity and liquidity characteristics that are different from the secondary securities issued by the FI.For example, a bank buys medium- to long-term bonds and makes medium-term loans with funds raised by issuing short-term deposits. Interest rate risk occurs because the prices and reinvestment income characteristics of long-term assets react differently to changes in market interest rates than the prices and interest expense characteristics of short-term deposits. Interest rate risk is the effect on prices (value) and interim cash flows (interest coupon payment) caused by changes in the level of interest rates during the life of the financial asset. . What is refinancing risk? How is refinancing risk part of interest rate risk? If an FI funds long-term fixed-rate assets with short-term liabilities, what will be the impact on earnings of an increase in the rate of interest? A decrease in the rate of interest? Refinancing risk is the uncertainty of the cost of a new source of funds that are being used to finance a long-term fixed-rate asset. This risk occurs when an FI is holding assets with maturities greater than the maturities of its liabilities.For example, if a bank has a ten-year fixed-rate loan funded by a 2-year time deposit, the bank faces a risk of borrowing new deposits, or refinancing, at a higher rate in two years. Thus, interest rate increases would reduce net interest income. The bank would benefit if the rates fall as the cost of renewing the deposits would decrease, wh ile the earning rate on the assets would not change. In this case, net interest income would increase. 3. What is reinvestment risk? How is reinvestment risk part of interest rate risk?If an FI funds short-term assets with long-term liabilities, what will be the impact on earnings of a decrease in the rate of interest? An increase in the rate of interest? Reinvestment risk is the uncertainty of the earning rate on the redeployment of assets that have matured. This risk occurs when an FI holds assets with maturities that are less than the maturities of its liabilities. For example, if a bank has a two-year loan funded by a ten-year fixed-rate time deposit, the bank faces the risk that it might be forced to lend or reinvest the money at lower rates after two years, perhaps even below the deposit rates.Also, if the bank receives periodic cash flows, such as coupon payments from a bond or monthly payments on a loan, these periodic cash flows will also be reinvested at the new lower (or higher) interest rates. Besides the effect on the income statement, this reinvestment risk may cause the realized yields on the assets to differ from the a priori expected yields. 7. How does the policy of matching the maturities of assets and liabilities work (a) to minimize interest rate risk and (b) against the asset-transformation function for FIs?A policy of maturity matching will allow changes in market interest rates to have approximately the same effect on both interest income and interest expense. An increase in rates will tend to increase both income and expense, and a decrease in rates will tend to decrease both income and expense. The changes in income and expense may not be equal because of different cash flow characteristics of the assets and liabilities. The asset-transformation function of an FI involves investing short-term liabilities into long-term assets.Maturity matching clearly works against successful implementation of this process. 11. A money market mutual f und bought $1,000,000 of two-year Treasury notes six months ago. During this time, the value of the securities has increased, but for tax reasons the mutual fund wants to postpone any sale for two more months. What type of risk does the mutual fund face for the next two months? The mutual fund faces the risk of interest rates rising and the value of the securities falling. 13. What is market risk? How do the results of this risk surface in the operating performance of financial institutions?What actions can be taken by FI management to minimize the effects of this risk? Market risk is the risk of price changes that affects any firm that trades assets and liabilities. The risk can surface because of changes in interest rates, exchange rates, or any other prices of financial assets that are traded rather than held on the balance sheet. Market risk can be minimized by using appropriate hedging techniques such as futures, options, and swaps, and by implementing controls that limit the a mount of exposure taken by market makers. 14.What is credit risk? Which types of FIs are more susceptible to this type of risk? Why? Credit risk is the possibility that promised cash flows may not occur or may only partially occur. FIs that lend money for long periods of time, whether as loans or by buying bonds, are more susceptible to this risk than those FIs that have short investment horizons. For example, life insurance companies and depository institutions generally must wait a longer time for returns to be realized than money market mutual funds and property-casualty insurance companies. 19.What is the difference between technology risk and operational risk? How does internationalizing the payments system among banks increase operational risk? Technology risk refers to the uncertainty surrounding the implementation of new technology in the operations of an FI. For example, if an FI spends millions on upgrading its computer systems but is not able to recapture its costs becaus e its productivity has not increased commensurately or because the technology has already become obsolete, it has invested in a negative NPV investment in technology.Operational risk refers to the failure of the back-room support operations necessary to maintain the smooth functioning of the operation of FIs, including settlement, clearing, and other transaction-related activities. For example, computerized payment systems such as Fedwire, CHIPS, and SWIFT allow modern financial intermediaries to transfer funds, securities, and messages across the world in seconds of real time. This creates the opportunity to engage in global financial transactions over a short term in an extremely cost-efficient manner.However, the interdependence of such transactions also creates settlement risk. Typically, any given transaction leads to other transactions as funds and securities cross the globe. If there is either a transmittal failure or high-tech fraud affecting any one of the intermediate tran sactions, this could cause an unraveling of all subsequent transactions. 22. If you expect the French franc to depreciate in the near future, would a U. S. -based FI in Paris prefer to be net long or net short in its asset positions? Discuss. The U. S.FI would prefer to be net short (liabilities greater than assets) in its asset position. The depreciation of the franc relative to the dollar means that the U. S. FI would pay back the net liability position with fewer dollars. In other words, the decrease in the foreign assets in dollar value after conversion will be less than the decrease in the value of the foreign liabilities in dollar value after conversion. 29. What is country or sovereign risk? What remedy does an FI realistically have in the event of a collapsing country or currency?Country risk involves the interference of a foreign government in the transmission of funds transfer to repay a debt by a foreign borrower. A lender FI has very little recourse in this situation unl ess the FI is able to restructure the debt or demonstrate influence over the future supply of funds to the country in question. This influence likely would involve significant working relationships with the IMF and the World Bank. 32. What is liquidity risk? What routine operating factors allow FIs to deal with this risk in times of normal economic activity?What market reality can create severe financial difficulty for an FI in times of extreme liquidity crises? Liquidity risk is the uncertainty that an FI may need to obtain large amounts of cash to meet the withdrawals of depositors or other liability claimants. In times of normal economic activity, depository FIs meet cash withdrawals by accepting new deposits and borrowing funds in the short-term money markets. However, in times of harsh liquidity crises, the FI may need to sell assets at significant losses in order to generate cash quickly. 33.Why can insolvency risk be classified as a consequence or outcome of any or all of the other types of risks? Insolvency risk is the risk that an FI may not have enough capital to offset a sudden decline in the value of its assets. This risk involves the shortfall of capital in times when the operating performance of the institution generates accounting losses. These losses may be the result of one or more of interest rate, market, credit, liquidity, sovereign, foreign exchange, technological, and off-balance-sheet risks. 34. Discuss the interrelationships among the different sources of FI risk exposure.Why would the construction of an FI’s risk management model to measure and manage only one type of risk be incomplete? Measuring each source of FI risk exposure individually creates the false impression that they are independent of each other. For example, the interest rate risk exposure of an FI could be reduced by requiring customers to take on more interest rate risk exposure through the use of floating rate products. However, this reduction in FI risk may be obtained only at the possible expense of increased credit risk. That is, customers experiencing osses resulting from unanticipated interest rate changes may be forced into insolvency, thereby increasing the FI’s default risk. Similarly, off-balance sheet risk encompasses several risks since off-balance sheet contingent contracts typically have credit risk and interest rate risk as well as currency risk. Moreover, the failure of collection and payment systems may lead corporate customers into bankruptcy. Thus, technology risk may influence the credit risk of FIs. As a result of these interdependencies, FIs have focused on developing sophisticated models that attempt to measure all of the risks faced by the FI at any point in time.Practice 1. A bank has the following balance sheet structure: AssetsLiabilities and Equity Cash$10,000Certificate of Deposit$90,000 Bond$90,000Equity $10,000 Total Assets$100,000Total Liabilities and Equity$100,000 The bond is a Eurobond; it has a te n-year maturity and a fixed-rate coupon of 6 percent. The certificate of deposit has a one-year maturity and a 4 percent fixed rate of interest. The FI expects no additional asset growth. a. What will be the net interest income (NII) at the end of the first year? Note: Net interest income equals interest income minus interest expense. b.If at the end of year 1, market interest rates have increased 100 basis points (1 percent), what will be the net interest income for the second year? Is the change in NII caused by reinvestment risk or refinancing risk? c. Assuming that market interest rates increase 1 percent. (i) What will be the market value of the bond? (ii) What will be the market value of equity? (Assume that all of the NII in part (a) is used to cover operating expenses or is distributed as dividends, so that there is no addition to retained earnings. ) a. What will be the net interest income (NII) at the end of the first year?Note: Net interest income equals interest income m inus interest expense. Interest income$5,400$90,000 x 0. 06 Interest expense 3,600$90,000 x 0. 04 Net interest income (NII)$1,800 b. If at the end of year 1, market interest rates have increased 100 basis points (1 percent), what will be the net interest income for the second year? Interest income$5,400$90,000 x 0. 06 Interest expense 4,500$90,000 x 0. 05 Net interest income (NII)$900 The decrease in net interest income is caused by the increase in financing cost without a corresponding increase in the earnings rate.The increase in market interest rates does not affect the interest income because the bond has a fixed-rate coupon for ten years. Note: this answer makes no assumption about reinvesting the first year’s interest income at the new higher rate. c. Assuming that market interest rates increase 1 percent. (i) What will be the market value of the bond? (ii) What will be the market value of equity? (Assume that all of the NII in part (a) is used to cover operating expens es or is distributed as dividends, so that there is no addition to retained earnings. Note: market value of equity falls due to lower market value of the bond If the coupon rate is 6%, yield to maturity = 7%, then using our financial calculator, N = 9 (only 9 years left), PMT = 540, I = 7%, FV = 90,000. Compute PV; find PV = -84,136. 29. Hence the market value of the bond fell from $90,000 to $84,136. 29 (a decrease of $5,863. 71). Since the interest rate on the CD has risen (it had only a one year maturity; so it gets a new interest rate when it is re-issued), the market value of the CD is $90,000 (interest rate = coupon rate on the CD).Consequently, it is the market value of equity that will decline. If the bank must sell the bond, it will sell it at the lower market value and realize the loss. The book value of equity has remained at #10,000, but the market value of equity has fallen by the amount of the decrease in the value of the bonds. This was a problem faced by banks in 200 8, when the market value of the mortgage debt and mortgage backed securities and CDOs (collateralized debt obligations) fell; some of them had negative equity in market value terms.

Non Perfoming Loans in Commercial Banks in Zimbabwe Is Now a Cause of Concern as It Is Threatening the Survival of Banks Bit by Bit

Journal of Emerging Trends in Economics and Management Sciences (JETEMS) 3(6): 882-886  © Scholarlink Research Institute Journals, 2012 (ISSN: 2141-7024 jetems. scholarlinkresearch. org Economics and Management Sciences (JETEMS) 3(6):882-886 (ISSN:2141-7024) Journal of Emerging Trends in Insights on Non-Performing Loans: Evidence from Zimbabwean Commercial Banks in a Dollarised Environment (2009-2012) 1 Laurine Chikoko, 2Tendekayi Mutambanadzo and 3Takaiona Vhimisai 1 Department of Banking and Finance, Midlands State University, P Bag 9055, Senga, Gweru. Department of Banking, National University of Science and Technology P O Box AC939, Ascot Bulawayo. 3 Department of Banking, National University of Science and Technology P O Box AC939, Ascot Bulawayo. Corresponding Author: Laurine Chikoko ___________________________________________________________________________ Abstract This study was prompted by the gradual deterioration in asset quality in most commercial banks in Zimbabwe aft er the adoption of the multiple currency exchange rate regime. The poor asset qualities were reflected by the non-performing loans trending towards the watch list category.In this regard we investigated the commercial bank credit process with the objective of understanding the fundamental causes of the impaired assets that are bedeviling the Zimbabwean banking sector so that some of the mistakes are not repeated and correctional measures are put in place. The methodology adopted a survey research design with use of questionnaires and interviews with commercial banks head credit risk, head retail and head corporate banking division from 15 registered commercial banks in Zimbabwe.Research findings show that some banks were sitting on nonperforming loans due to poor credit analysis processes; wrong products offered to the clients; lending based on balance sheet strength instead of cash flow based lending; banks taking too much comfort in security; information asymmetry leading to moral hazard; economic environment and political influence. Key recommendations include an urgent setting up of the Credit Bureau; banks should not adjust clients request and the need for banks to consider the economic environment and adjust their credit culture.The central bank needs to tighten its supervisory role and ensure prudential guidelines are not violated. _________________________________________________________________________________________ Keywords: credit analysis, loan products, non-performing loans, Zimbabwean commercial banks, dollarised environment. __________________________________________________________________________________________ INTRODUCTION the watch list category. The implication is that Zimbabwe adopted a multiple currency regime in borrowers were struggling to repay loans leading to 2009.A multiple currency system allowed trade to be the problem of banks sitting on non-performing conducted using major trading currencies, for loans. example, the United St ates Dollar (USD), Pound Sterling, South African Rand, and the Botswana Pula. Each non-performing loan in the financial sector is After the adoption of the multiple currency system, viewed as an obverse mirror image of an ailing the banking sector experienced marked unprofitable enterprise.From this point of view, the improvements in the intermediary role which resulted eradication of non-performing loans is a necessary in improved financial support to the key productive condition to improve the economic status of the sectors of the economy (Reserve Bank of Zimbabwe financial institution. Continuously rolling over non(RBZ), 2010). A research conducted by the performing loans locks up resources that could International Monetary Fund in 2010, indicated that otherwise be invested to profitable sectors of the the profitability of banks had improved following a economy.Intuitively this hinders economic growth more favourable economic environment during the and impairs economic efficiency . Consequently this new regime. While officially reported, aggregate study seeks to provide insights on Zimbabwean banking soundness indicators do not raise major red commercial banks non-performing loans. The flags, they mask vulnerabilities specific to a fully ultimate objective is to draw lessons from dollarised banking system experiencing rapid credit commercial banks lending in Zimbabwe during the growth, as well as a significant variation in prudential multiple currency regime.The paper is organised as indicators across individual banks. The Reserve Bank follows. In the second section, we present brief of Zimbabwe (2012) also noted that there has been review of literature. In the third section we present gradual deterioration in asset quality as reflected by the research methodology; in the fourth section a the level of non-performing loans trending towards 882 Journal of Emerging Trends in Economics and Management Sciences (JETEMS) 3(6):882-886 (ISSN:2141-7024) discussion of the findings.Finally we present conclusions and recommendations. LITERATURE REVIEW A non-performing loan is an advance by a financial institution that is not earning income and full payment of principal. As such interest is no longer anticipated (Van Greuning, & Bratavonic, 2003). There is no global standard to define non-performing loans at the practical level. Variations exist in terms of the classification system, the scope, and contents. This pitfall potentially adds to disorder and uncertainty in the non-performing loans subject.For instance, as described by Park (2003), during the 1990s, there were three different methods of defining non-performing loans: the 1993 method based on banking laws; the â€Å"Bank’s Self-Valuation† in March 1996; and the â€Å"Financial Revival Laws-Based Debt Disclosure† in 1999. These measurements have gradually broadened the scope and scale of the riskmanagement method in the banking industry. The literature that examines non -performing loans has increased as more researchers attempt to understand the major factors that cause financial instability.This trend has arisen due to the role played by impaired assets in financial instability as evidenced by the strong association between nonperforming loans and banking crises. In most of the economies that collapsed, credit risk preceded financial crises. Khemraj (2005) revealed that the banking crises in East Asia and Sub-Saharan African countries were preceded by high non-performing loans. This stimulated research in trying to establish the causes of non-performing loans in banks.Caprio (1998) had earlier presented stylised evidence and found that inadequate regulation and lack of supervision at the time of the liberalisation could play a key role in explaining why deregulation and banking crises were so closely entwined. The analysis of Kaminsky and Reinhart (1999) provides interesting insights on the links between financial crises with financial liberalisa tion. The study found that the proxy variable for financial liberalisation which was the growth in domestic credit as a ratio of output, accelerated greatly as the crises emerged.Earliest studies to examine the causes of loan losses were by Keeton and Morris (1987). The study showed that local economic conditions along with the poor performance of certain sectors explain the variation in loan losses recorded by the banks. The study also reports that commercial banks with greater risk appetite tend to record higher losses. Garey (1991), also concur with the early studies of Keeton and Morris. Garey (1991) found that loan lossexperience of large commercial banks in the US was influenced by both internal and external factors.This study found a significant positive relationship between the loan-loss rate and internal factors such as 883 high interest rates, excessive lending, and volatile funds. Non-performing loans were influenced by gross domestic product growth, high real interest ra tes, lenient credit terms and excessive lending by commercial banks (Goacher, 2002; Howells and Bain, 2002; Heffernan, 2005; Freixas, 2007 and Machiranju 2008). Despite the abundant literature on non-performing loans, to the researchers’ knowledge, no study has been done on causes of non-performing loans on Zimbabwean commercial banks after dollarisation in 2009.METHODOLOGY A survey research design was used in this study. The survey allowed the collection of large amount of data in an economical way (Saunders et al, 2003). Data obtained through use of questionnaires was standard which allowed easy comparison. The limitation to the survey strategy was the fact that data collected may not be as wide-ranging as those collected by other research strategies. There is a limit as to the number of questions that any questionnaire can contain if the goodwill of the respondent is not to be presumed on too much. To mitigate this weakness, personal interviews were used in the survey stra tegy.Data was collected from 15 registered commercial banks in Zimbabwe. The key informants were departmental heads of credit risk, retail and corporate banking divisions. In addition account relationship managers were randomly selected in the survey. The study was carried out in Harare mainly because that is where all commercial banks are headquartered. Data from the survey was analysed using STATA version 11. Tabulations were used to show percentages and frequencies of respondents in each response category, with cross-tabulation tables showing percentages and frequencies between two given categories.Crosstabulations were computed together with correlation test between two variables by using Pearson chisquare. LIMITATION OF THE STUDY The issue of non-performing loans is a sensitive and confidential issue since it has a bearing on bank performance and reputation. To this end, we had challenges in getting a detailed account from some of the respondents. However, to overcome this we h ad to interview many respondents from the same institution in order to fill in the missing details. EMPIRICAL FINDINGS On average the banks were in business for thirty seven years but varied from five up to one hundred and eighteen years.Table 1 summarises the ages of the fifteen commercial banks. Table 1: Tabulated Zimbabwe Commercial Banks Years in Business Variable Years in business Observation 15 Mean 37. 5333 Std Dev 40. 2347 Min 5 Max 118 Journal of Emerging Trends in Economics and Management Sciences (JETEMS) 3(6):882-886 (ISSN:2141-7024) From the survey, age had nothing to do with the problem of non-performing loans as reflected by a? statistic of 5. 86 (P=0. 210). Of the banks surveyed, 20% were internationally owned banks and 80% were locally owned banks.It was evident from the survey that locally owned banks had the problems of non-performing loans while internationally owned banks did not have problems of non-performing loans. This was shown by the observed differences i n ownership and non-performing loans which were statistically significant as shown by the of 17. 26 (P

Biological Molecules And Carbohydrates

Biological Molecules And Carbohydrates Quite simply, molecules are many atoms chemically bonded together. They are the most basic structural formation of an element and make up everything, from the air we breathe to ground we walk on. Some important molecules make up cells which are the most basic forms of life; every living thing is made up of cells. Cells mainly consist of water molecules but there are a number of other important biological molecules vital to allow life to exist. Macromolecules are among the most important as they can offer structural support to the cell, hold energy like a battery, act as a catalyst for biochemical reactions and store genetic information as well as having many other important functions. Macromolecules are formed of monomers – simple molecules that can bond together with others to form larger more complicated molecules. When two monomers react, they create a separate water molecule as monomers always have hydrogen and oxygen atoms in their molecular structure. A covalent bond is formed in the absence of the hydrogen and oxygen atoms, connecting the two monomers together. This is called a condensation reaction and it can continue happening until a large chain of molecules forms, eventually making a macromolecule. The reverse effect, called a hydrolysis reaction, can also occur where water will displace a covalent bond in a macromolecule reverting it back to a monomer though a catalyst is usually needed for this reaction to take place. The following image displays these reactions very well. These larger molecules are called polymers and macromolecules are biopolymers (naturally produced polymers). These consist of four types; the carbohydrates, proteins, lipids and nucleic acids with each type being made up of its own specific monomers. Carbohydrates Carbohydrates are molecules made from the elements carbon, hydrogen and oxygen. They are often called sugars and they supply a large percentage of energy to animal and human cells. The monomers of carbohydrate m acromolecules are called monosaccharides (simple sugars) with only one unit of sugar. All monosaccharides have the chemical structure (CH2O)n with n equalling 3, 4, 5, 6 or 7 depending on the number of carbon atoms the monosaccharide has – for example as glyceraldehyde has three carbon atoms the formula will be C3H6O3 and as fructose has six carbon atoms the formula will be C6H12O6. Most monosaccharides form ring shaped molecular structures when dissolved in water (see below image, depicting glucoses three forms). One of the most common monosaccharides is glucose – a vital ingredient for almost all life on earth. Plants make this monomer by using photosynthesis in the following way (CH2O represents glucose). H2O + CO2 + Sunlight and Chlorophyll = (CH2O) + O2 When these simple monosaccharide monomers such as glucose join together to form carbohydrate polymers they become disaccharides (with two sugar units), oligosaccharides (between 3 and 10 units) and polysaccharides (10 or more units also known as complex carbohydrates). The term for this joining together is called glycosidic linkages where the molecules will covalently bond by a condensation reaction (mentioned in the introductions) with each other. The disaccharide sucrose is a polymer of glucose combined with fructose, and lactose is a polymer of glucose bonded with galactose – both of these are also known as table sugar and the sweetness in milk. Cellulose, a polysaccharide, is made from many thousand conjoined glucose molecules and is the main part of plant cell walls. Another polysaccharide, starch, is again made from a large amount of glucose molecules but it is found in many food stuffs such as many vegetables, seeds, grains and fruits. Starch is very useful in that it can be stored in reserves and broken down quickly to release the energy when it’s most needed – for example a deciduous tree will need starch in the winter when it can’t carry out photosynthesi s.

Case study Example | Topics and Well Written Essays - 1250 words

Case Study Example Issues After he recruited the class of students in April Carl Robbins had to perform a series of human resource activities to incorporate the recruits into the company. The activities included training schedule, orientation, manuals, policy booklets, physicals, and drug tests among other issues. Carl gave his word to the operations supervisor, Monica Carrols, that everything would be ready on time. By June 15th when Carl verified the paperwork some of the new recruits did not have their transcripts of file or their applications completed. None of the recruits had taken the mandatory drug test and the employee manuals were incomplete. The use of mandatory drug testing helps create a safer working environment (Sofsian, 2011). Another issue was that the room Carl separated for training was being used by the IT department for the entire month. Carl had double booked the room. Alternative Solutions Carl Robbins created a lot of problems due to his inability to coordinate activities correc tly. Coordination is very important in order to achieve business goals (Blurit). Carl should have planned things out better and if he needed help it was his responsibility to ask for more resources to be assigned to his department such as a personal assistant. Based on the circumstances an alternative solution could be to cancel the recruiting efforts. This option would eliminate the problems of the recruited employees not being ready for work at the June deadline. A disadvantage of that option is that it would make Carl look bad in the eyes of the other executives of the company. Carl could do some damage control explaining that the IT department took away his ability to train the new employees. ABC Inc. needs the influx of new labor in order to comply with their needs. Due to the mess with the recruited employees the company could fire Carl Robbins from his position. Employers should follow precise steps when firing employees to avoid wrongful termination legal problems (Urgentbus inessforms, 2011). Based on that option the company would lose a recruiter that was trained by the company six months ago. The option would place all the blame of the problem in the hands of Carl Robbins. The option would establish that ABC inc. is not tolerant of administrative incompetence. A problem with this option is that the company would not receive the new labor requirement it needs on time. The company already has a group of excellent college recruits that the firm needs to provide an influx of youth and potential to the company. A third alternative solution is to give Carl Robbins more time to take care of the human resource tasks that Carl was unable to complete on time. In order to ensure that Carl does not mess up again in this process the company should assign a special task force to oversee the progress of Carl. The task force can be composed of one to three human resource specialists. These human resource specialists would work in alliance with Carl to get all the th ings that need to get done on time. The special task force would only oversee Carl’s recruiting efforts work for this first round of recruiting. In the future once Carl receives the proper training to perform the job himself Carl would work independently in his recruiting efforts. Carl Robbins recruited a group of college recruits that had excellent credential to fulfill the human resource

Lasers Essay Example | Topics and Well Written Essays - 1500 words - 1

Lasers - Essay Example 13). â€Å"The invention of the laser was one of the groundbreaking scientific achievements of the twentieth century† (Lang and Barbero vii). This technology resulted in the development of new systems of communication, optical devices, space exploration, digital devices, and the mastery of nuclear energy. Lasers are oscillators functioning at optical frequencies producing monochromatic, coherent, and highly collimated intense beams of light. The frequencies of operation lie within a spectrum of far infrared to the vacuum ultraviolet or soft X-ray region (Lang and Barbero xii). This process occurs â€Å"when a beam of light passes through a specially prepared medium and intiates or stimulates the atoms within that medium to emit light† (Silfvast 1). Light is emitted from a source such as a flash lamp or diode, and the light is amplified in the lasing media which may be a gas, liquid, or solid. â€Å"The light travels between two mirrors; one of the mirrors is 100% reflective, while the other is partially translucent† (Dajnowski et al. 13). Light repeatedly passes through the lasing media until it gains the required energy level, at which point it exits through the partially reflective, translucent mirror, state Dajnowski et al. (13). The light is released in exactly the same direction and same wavelength as that of the original beam. Thus, lasers are devices that â€Å"amplify or increase the intensity of light to produce a highly directional, high-intensity beam that typically has a very pure frequency or wavelength† (Silfvast 1). The components of a typical laser device include an amplifying or gain medium, a pumping source to channel energy into the device, and an optical cavity or mirror arrangement for reflecting the beam of light back and forth through the amplifying medium for further increase and intensification. â€Å"A useful laser beam is obtained by allowing a small portion of the light to escape by passing through one of the mirrors that is

Tourism Planning Essay Example | Topics and Well Written Essays - 1500 words

Tourism Planning - Essay Example otes, it must be noted that nowhere within this description of how tourism development planning should take place is there referenced a discussion of the fact that the economic trends within the market are not guaranteed to continue to exist perennially (Scutariu, 2012). In short, any individual with a working knowledge of how the economy operates notes that key factors within the global market can increase or decrease the level of profitability that a given sector might be able to enjoy in any given year (Razzaq et al., 2012). Circumstantial evidence of this can of course be presented with regards to the way in which many individuals within the natural gas producing nations around the globe state the future of their nations and economic wealth that they might hope to effect within the immediate future upon the belief that all market conditions will remain constant (Gracan et al., 2010). However, beginning around the year 2004, it was noted that global natural gas reserves were in fa ct much larger than anticipated and the price premiums that had been paid for this natural gas plummeted (RUSE? et al., 2012). Although it may seem as something of a stretch to compare the way in which the natural gas market change in the way in which the tourism industry may change, it is nonetheless a salient point to consider the fact that the economic trends within the global market do not allow anyone industry to expect a period of sustained economic growth with no threats which might undercut this potential growth in the future (OGARLACI & POPA, 2012). By comparison, the statement of the fact that tourism planning only involves deciding what to build and where represents a great deal of strength and for Rhapsody as well. For instance, the PESETL analysis, and economic analysis that... From the previous analysis, it can and should be definitively noted that the greatest portion of decision-making ability and skill that the tourism planner must have is truly contingent upon the need of deciding what building where. However, with that being said, it is also a fundamentally important for the tourism planner to understand each of the attributed means by which this decision is impacted. Although the analysis has been thorough in anticipating and briefly discussing each of these, the truth of the matter is that there is, in fact, a great litany of other mechanisms through which the tourism planner must engage in order to make a well-informed and accurate decision (Borma, 2012). Without question, the role of the tourism planner is a stressful one due to the fact that multiple millions of dollars can be tied up in a single development, the necessity of making a well-informed and pertinent decision is paramount. With all that being said, it must be understood that a thought ful process must be engaged in order to make any other changes referenced within this brief analysis. If a nuanced and definitive process is engaged but is cognizant of the analysis, as well as many of the other decisions and choices that of the reference, it is likely that the decision of what to build and where can more effectively and appreciably be accomplished. However, if an individual PESTEL tourism planner merely seeks to engage a decision based upon simple determinants, the result will almost invariably be a disaster.

Health leadership and management Essay Example | Topics and Well Written Essays - 3250 words

Health leadership and management - Essay Example The management concepts of leadership and identification and establishment of a risk management process are to be applied for the ultimate design of a health care process. Such processes are more required at the Intensive Care Unit (ICU)/facilities of any hospital as ICU is one of the most critical services of any hospital and the quality of patients' response is important in determining the success of the entire hospital itself. In the following paragraphs we examine the application of the leadership concepts and risk management processes to the ICU facilities so as to lead to identification and reporting of incidents that are potentially harmful to patients. Nearly half all ICU patients suffer from potentially life-threatening adverse event, including infection.Nosocomial infections in ICU are 3-5 times higher than non ICU; 50% of all nosocomial epidemics occur among the 10% of ICU patients; more than 30% of US hospital costs are allocated for ICU care alone. Several evidence based practices have been identified in case of ICUs which help prevent infections. Low evidence based practices are cleaning insertion site, use of heparin,tunneling,routine catheter change, routine Ab prophylaxis, hand washing compliance and use of Sucralfate; medium level evidence based practices are peri-operative normothermia, continuous oscillation,suprapubic catheters, barrier Precautions and Ab restrictions; high evidence based practices include supplemental perioperative oxygen, semi-recumbent position ,selective decontam- GI tract and silver alloy-coated catheters, to quote a few. While these best practices are indicative of the desirable course of action s in ICU situations ;they perhaps indicate more to the risk perceptions and associated risk bearing events within the ICU environment.. Thus best practices are to be documented and diligently implemented and perhaps linked to performance evaluation. However there are noticeable gaps in prescription of these best practices and their actual practices which leads to occurrence of adverse events in ICU care. A careful identification and documentation of deviations which have resulted in adverse incidents is the much needed innovation for ICU management. However it must be remembered as Kaplan says," An appreciation of the power, productive and seductive, of stories of best practice, may provide some "heedfulness" to work in the strategy field(Kaplan,2003). In some evidence seeking research studies, nurses with higher patient load were linked to higher 30-day risk-adjusted mortality. Similarly studies observed a 7% increase risk of dying within 30 days for each additional patient added t o nurse load. One study on adverse drug events showed that 78 percent of adverse drug events were due to system failures (Leape et al, 1995).Any design of an ICU health care system would require establishment of a system which would adherence to such practices by ICU staff at all levels with adequate motivation. Some authors have emphasized the need for organizational change in health care, calling it "the key to quality improvement". In discussing how such change can be managed, Davies and Nutley assert that cultural change needs to be

Discussion board Essay Example | Topics and Well Written Essays - 500 words - 2

Discussion board - Essay Example Apart from the Smallpox, there were other items involved in the Columbian exchange. The items included livestock and crops. The natives provided potatoes, sweet potatoes and maize. The Europeans brought to America crops such as Oranges, tomatoes and bananas. Horses, donkeys, sheep, goats, mules, dogs, cats, and pigs were brought from Europe to the New World. Other diseases included in the exchange were: measles, yellow fever and Syphilis. The natives gave the settlers syphilis in return. The Columbian Exchange was not a Pandora’s Box. The diseases and other items exchanged were just brought in or taken out by the settlers. The problems were caused by settlers. Even if the settlers had left, the continent was permanently changed by the settlers due to the introduction of the diseases and other exchange materials. In Bacon’s rebellion, Bacon led fight against Native Americans in order to defend the rights of the Englishmen. Bekerly, who was a governor, defended the Indians instead of colonists because the Indians were friendly to them, so they would act as buffers against hostile tribes. Edmund Morgan links the rebellion to American Freedom by using the role of slavery in American history. He argued that growing masses of alien slaves and freedom acted together as a way of bringing white settlers together and reducing racial differences. Indentured servants fitted into this picture by collaborating with freemen and small farmers in the Bacon rebellion to fight for freedom from the settlers. These immigrants served the settlers (planters) but they became freer each year. African Slave Trade became popular in the 17th century in United States. The slaves were taken to sugar colonies in the Caribbean and to Brazil. African slaves were taken to the colonies between 1519 and 1867. The middle passage was a stage in the triangular trade.

Job Evaluation, Market Pricing & Pay Structures Term Paper

Job Evaluation, Market Pricing & Pay Structures - Term Paper Example Job evaluation approach Job evaluation approach to set pay range ranks the job on the basis of responsibilities and duties expected by the position to perform. This evaluation technique helps the organization to select a pay grade that is a pay range with minimum and maximum rate. This approach evaluates a job on the basis of four factors which are skills possessed by the individual, efforts made by the individual, responsibilities performed by the individual and working conditions of the individual (Armstrong, 2007). (Jenss & Associates) On the basis of above factors organizations design pay structures, although there are many variations in this process but all organizations using this techniques follow the same approach which is to define each job in the group on the basis of above discussed generic factors. The first step in this approach is to decide which job to be covered in the evaluation and what factors are to be used to evaluate, second step is to gather information about e ach job to be evaluated, third step is to rate each job evaluation factors of the job, and the step four in the process is to select the benchmark jobs among jobs selected for evaluation which connects internal pay structure with external labor market (Armstrong, 2007). ... This method is quite expensive, complex and hard to understandable for employees. The major drawback of this approach is that it rewards tenure and efforts rather than outcomes and performances which are quite unjustifiable (Armstrong and Brown, 2001). Market pricing approach Market pricing approach sets pay scale according to the prevailing market rate of the pay for similar job, this approach is the most dominant and common way organizations use to determine pay scales. Evolution of this method to sets pay scale has shifted the organization’s focus from internal methods to use market data to sets pay scale. This approach place jobs in grades based on the level of competitive pay for different jobs, in this way it also decreases the level of grades and makes the job and pay structure simple (Armstrong, 2007). This method sets pay scale for selected job position and its description on the prevailing market rate. In this way organizations stay competitive and are able to retain their employees for long. This approach is comparatively less expensive and easily understandable for employees, this approach also reduces disputes between employees regarding pay scale. It evaluates jobs on results and accountability rather than efforts and tenure (Heneman and LeBlanc, 2002). There is a major drawback with this approach; if the market data is not available for the job position for which pay scale needed to be set than it becomes very hard and complicated for the organizations to set pay scale; Secondly this approach can result in statistical errors such as to place the job in wrong grade; thirdly this approach is highly dependent upon market survey, any lacking or error in the survey can result in disaster and wrong placement of jobs.

Impact of Training and Developement on Employees Essay Example for Free

Impact of Training and Developement on Employees Essay 1.1 Introduction The purpose of training is to help people learn something they need to know or able to do for specific purpose such as to achieve organizational objectives and goals, carry out specific tasks, prepare new responsibilities or attain their correct goals. Successful training programs share they affect changes, that are designed to achieve objectives that describe what people will be able to do as result of training are learned centered, not trained centered. According to paymond A. Noe etal, 2011: p 7 training is a planed effort to enable employees to learn job related knowledge, skills and behavior. For example many organizations offer safety training to teach employees work safety habits . development involves acquiring knowledge, skill and behavior that improve employees ability to meet the challenges of a variety of new or existing jobs, including client and customer demands of those jobs (Ibid). Development programs often focus on preparing employees for management responsibility, like wise if company plans to set up teams to manufacture products , it may offer development program to help employee learn the ins and outs of effective team work. Development implies â€Å"learning that is not necessary to related to employees current job† and development indicates that it is future oriented (M. londom 1989) training has the distinct role in achievement of an organizational goal by incorporating the interests of organization and the work force( stone R.j Human resource management, 2002) . however Training and development focus on enabling the employees to perform their duties better While HR functions focus on the day to day operations of the company, such as payroll, disability, and employee and management conflicts or issues. HR protects employees and the company by following the correct and legal guidelines for resolutions. 1.2 back ground of organization In 1994 STC (Somaliland Telecommunication Corporation) established by one of Somalilander and it was first Telecommunication Company in Somaliland. Later company started to open share by public in order to maximize capacity of the company. Then company expand service throughout main cities of Somaliland, such as Berbera Burco, Boorama and Lowyocado, then it become the biggest Telecommunication Company in Somaliland at that time It was booming for several years then conflict between partner the main source of the conflict was the administration. Which makes difficult the company to be competitive position compare to other that is why liquidation comes too finally. In 2006 January group of Somalilander, and Somalis bought the whole company they change the name of the company, from STC to SITALINK under the name of SITALINK it was working couple years. In 2008 JULY the name charge once more in to NATIONLINK, which is right now legal name of the company. This is Telecommunication Company that offering Service is All the Somaliland, Somali and other countries like central Africa, Congo, and Switzerland and so on. This is Company corporate. Services offering This Company like: * Mobile Service (GSM) * Landlines (PSTN) * Internet (ISP) * E- Mail, Cash Payment (Mobile Money) * VoIP Service Vision Working toward the future demands that we not only focus on todays needs, but also develop technologies for the needs of tomorrow. Mission Change and dynamic thinking is a distinguishing feature we relished over the years. In order To keep up with the pace of innovation and growth in the business of telecommunication our only choice is to embrace forward thinking and better adaptation to change. To perfect the art of better adaptation to changes is not a matter of choice, but out of sheer necessity. 1.3 statement of problem My preliminary indirect observation shows us that there is no specific policy of training and development that is guided to employees. And also invested employees with high cost of training which are sometimes sent to overseas, move from the organization, hence this is loss and it affects the efficiency of an organization. but on the other hand Nation link has all mostly HR policies that is written on organizational procedures, which are delivered to employees in order to act on their activities. As human resource officer of Nation link told the researcher that their HR policies based on Somaliland labor law. 1.3 Research questions 1.4.1 Did they have HR policy? If yes what did their policy state training and development program conducted in their organization? 1.4.2 Is there any criterion to select trainees? 1.4.3 What is training methods used? 1.4.4 Did training and development program have impact on organization’s performance? 1.4.5 Who do they use to do their training; ? 1.4 objective of the study 1.5.6 general objectives of the study is to assess the impact of training and development on employees performance of Nation link 1.5.7 The specific objective are :- a.) To establish HR policy especially training and development policy b.) To describe how they select trainees   c.) To know training method(s) used to conducting training. d.) To understand that training and development have impact on performance of an organization. 1.5 scope of the study Since it is difficult to comment on each and every department of nation link due to both the researcher and organization’s respondents busy as well and limited time, for these barriers, the researcher would like to focus only on the HR department at the Headquarter in Hargeisa town, because HR activities are handled mainly at the headquarter and this limits the study on activities of training and development. 1.6 significance of the study

Models of Nursing for Safeguarding Vulnerable Adults

Models of Nursing for Safeguarding Vulnerable Adults The articles chosen to be evaluated, compared, analyse and reflected upon are Nursing models and Contemporary Nursing: their development, uses and limitations, Nursing models and contemporary nursing: can they raise standards of care and lastly Safeguarding vulnerable adults. The reasons for selecting the topics above are based on exposure to the subject matter in university and familiarity with the safeguarding vulnerable adults during the many years spent working as a Health Care support worker within the community. Most of all, the ultimate reason choosing these topics is sheer interest in finding out how effective the usage of these integral topics can improve holistic nursing practice and give the service user or patients a better experience. Supporting evidence for this report were sourced from various mediums i.e. Through the internet and from credible websites such as the Royal College of Nursing, Nursing Times and article catalogue banks such as CINHL and Medline. Murphy, F; Williams, A and Pridmore, J (2010) Nursing models and contemporary nursing 1: their development, uses and limitation. Nursing Times 15 June, 2010, vol 106, No 23pp18-20. Pridmore J et al (2010 Nursing models and contemporary nursing 2: can they raise standards of care? Nursing Times 21st June, 2010 Vol 106, Number 24. These articles are suitable for the education, training and informing Healthcare Professionals about the prominence of their field. The articles are presented in a good and coherent fashion, this makes the reading experience enjoyable. The two-part series analyses the worth of nursing models and deliberates whether the essential concepts, principles and ethics about nursing in these models are pertinent to contemporary procedures. This first article provided an outline of nursing models; how and why they were established; and some poignant criticisms. The second article examined the models in the framework of modern nursing practice, with specific attention placed on current initiatives intended to reform nursing and to improve the standards of care. The authors of these articles are experienced and seasoned professionals in their fields of expertise. Fiona Murphy, for example, is a nurse who has held clinical positions as a Sister, staff nurse and clinical teacher in acute hospitals nursing all over the United Kingdom. She has taught and lectured at the University of Swansea since 1992 and worked on a variety of undergraduate and post graduate nursing and midwifery programmes. (Dockerty, 2013) Julia Pridmore, is also a Nurse Lecturer and programme manager for BSc (Hons) Health and Social Care at the University of Swansea. Julia has been a practicing nurse since the 1980s. She specialises on quality improvement, governance and patient safety (Pridmore, 2010). Their experience in practice and teaching combined, validates their knowledge of the subject and also authenticate the issues raised in the articles. The authors, gave a very insightful historical background about the technological boom which triggered the development of nursing models in the early 1960’s in the United States, but it failed to examine the reasons why it took more than a decade for the same to be adopted in the United Kingdom. One could be identified with the difficulty in acclimatizing to an entirely different concept, but the impediment to change as described by (Kenny 1993) ‘reflecting on the approach and attitude towards change and the bureaucratic environment of the NHS, also questioned if models really stood any chance at all’. This statement speaks a lot of volumes but completely void of proofs or facts. The National Health Service have been a driver for change and modification since inception. The Nurses Act of 1949, for example was established to modernise the role of nursing by providing the catalyst for modification to nursing education and training, 1940s and 50s saw nurses uniform b egin to become more standardised, in 1955 the nursing auxiliary or nursing assistant role achieved formal recognition and Enoch Powell’s Hospital Plan recommended that teaching hospitals should act as district general hospitals and that student should be taught where patients required treatment in 1962. Prior to the adaptation of models in the United States the National Health Service was in its twentieth year of reformation, one can conclude Kenny 1993 quote on attitude to change and bureaucracy within the environment of the NHS is possibly a hypothesis. Secondly, there were numerous complications in developing the models, the smallest of which was an absence of a definition of nursing. This led to Henderson’s description being regularly quoted, and it shaped the foundation of vast majority of deliberations. There were also calls to go back to the ideas of Florence Nightingale. Henderson defines both the independent and the co-dependent features of nursing practice, and stipulates the affiliation between nursing and medicine. This difference between independent and co-dependent practice is vital to appreciating the intricacy of nursing and its specific influence inside the multi-disciplinary teams within a health care setting. Nightingale’s emphasis on the advancement of health and healing as separate from the treatment of disease, and the harmony of the individual, well-being and the atmosphere, remain essential to contemporary explanations of nursing. Both philosophies and ideas resounds clearly in the models, a good indication of the advancements and strides made since the days of Florence Nightingale. In hind sight, going back on the ideas to reflect the idle of Florence Nightingale would be a complete retrogression, but rather using models as a framework to guide and reform the delivery of care and will directly improve the experience of the patient thereby affirming the professional outlook of the nurse within the healthcare setting. Betts V; Marks-Maran, D and Morris-Thompson, T (2014) Safeguarding vulnerable adults. Nursing Standard. 28, 38 P37-41. This article is suitable for the teaching, preparation and informing Healthcare Professionals about the importance and efficacy of safeguarding the vulnerable within the confines of the hospital and beyond. The article is presented in clear and comprehensible manner, this makes the reading experience very pleasant. The article examines more or less the matters surrounding safeguarding vulnerable adults, it reviews some of the correlated legislation and literature, and outlines the responsibilities of authorities or those who care for these patient groups. The article reveals how one hospital that is specialised in caring for individuals with early-onset dementia, Huntingdon’s disease and alcohol-related brain damage who need supplementary care, has provided staff with fitting evidence-based facts about safeguarding adults. The authors of this article are knowledgeable and experienced authorities in their fields. Virginia Betts Previously a staff nurse at Forest Hospital, Nottingham and presently health visitor student at Derby University, Diane Marks-Maran is an honorary professor of nursing at Kingston University, London and St George’s, University of London, lastly, Trish Morris-Thompson director of quality and clinical governance at Barchester Healthcare, London. Their involvement in practice and education authenticates their understanding of the theme being examined i.e. Safeguarding Vulnerable Adults and also substantiate the issues raised in the article. This is an evidence based literature which draws lessons and references from current events in Winterbourne View Hospital and Mid Staffordshire NHS Foundation Trust. This article failed to explore in to details the avenues of trainings, retraining, and refresher courses to ensure staff and healthcare professional are constantly reminded of the importance of safeguarding the vulnerable. Although, Nesbit’s warning that no structure or system of safeguarding would be able to pledge with certainty that abuse would certainly not transpire (Nesbit 2013) is completely a valid argument. It also very important to raise, continuous trainings and adequate reminders are the key to keeping this all important subject current and relevant to the healthcare professional. With the view of avoiding a repeat of the happening of Winterbourne View and Mid Staffordshire NHS Foundation Trust, the issue of training, retraining and refresher courses cannot be over emphasised. Research and policy guidance advocates compulsory trainings for care home proprietors and executives in view of safeguarding responsibilities. ‘No secrets’ (DH/Home Office, 2000) also mentioned that all organisations must train all employees and volunteers at all levels of hierarchy within their agencies, organisation or companies, with respect to their responsibilities in the adult safeguarding procedures and processes. Kalaga and Kingston (2007) referred to the commendations of the enquiry into the delivery of services for individuals with learning difficulties at the Cornwall Partnership NHS Trust which specified that the Trust must: ‘as a priority, develop a programme of training, supervision and support for all staff which helps them deliver care in accordance with the principles of the Valuing People strategy’. (CSCI/Healthcare Commission, 2006, p 69) Organisations must ensure a safe environment in which all employees are trained in safeguarding, and a uthorities such as managers, supervisors and even team leaders be responsible for systematic official checks of the organisation’s safeguarding procedures, policies, processes and practices. In essence, the evidence presented for Forest Hospital in Nottingham inaugurated in 2013 to deliver expert care for individuals with early-onset dementia, Huntingdon’s disease and alcohol-related brain injury is exemplary, the institution have gone through a great deal of meticulous planning to encourage the retention of information and training pertaining to safeguarding. All employees new to the establishment obtain an information guide and commence e-learning induction sections on safeguarding vulnerable adults, followed by team deliberations on some of the subjects raised on the materials and guides given, and the sections. Throughout the segments and group studies, employees are familiarised with and well-versed on safeguarding vulnerable adults. Responses, feedbacks and questions are given in writing and verbally from employees and shown that employees who had never worked in care homes or anything similar to care found the training on safeguarding adults educational and easy to comprehend. Employees identified that they valued the chance to utilize the learning tools on safeguarding adults in group discussions. They also mentioned that it was extremely beneficial having a written document to which references could be made when needed. This method of training is entirely innovative and worthy of emulation by every institution and NHS Trusts. The only criticism about the training method in Forest Hospital is the fact the authors provided no detail concerning its frequency. It is vital to note, some of the issues in Mid Staffordshire NHS Trust according to the HealthCare Commission was not due to lack of training but rather lack of adequate training. As a firm believer in learning, unlearn and relearning, training a healthcare professional once or maybe twice in his or her career is not enough. Safeguarding just like manual handling require expiration in its certification. This will enable a continuous assessment of employee knowledge and practical skills with respect to safeguarding thereby delivering exceptional service to the patient. In retrospect, one could say the article on Safeguarding focused mainly on physical abuse by so doing leaving a lot of safeguarding issues unaddressed. Abuse may be physical, psychological, financial or material, sexual, discriminatory, or an act of neglect or an omission to act. For example the involvement of exploitation and mistreatment is likely to have a major impact on a person’s health and wellbeing. By the very nature exploitation and utter abuse of power by one person over another has an enormous impact on a person’s independence and most times depresses their individualities, which are a breach of the rudimentary ethos of the Healthcare profession. Neglect on the other hand, was not mentioned, but it can stop an individual who is reliant on others for their fundamental necessities, exercising choice and control over the basic needs of life and can cause embarrassment, humiliation and loss of self-respect. All vulnerable adults have the right to be assisted to make their own choices and to give or deny consent on whatever they please, be it activities or even services. Consent is a strong sign of a readiness to partake in an activity or to receive a service. It may be gestured, verbal agreement, or in writing. No individual can or should give, or refuse, consent on behalf of a different adult except exceptional provision for specific purposes have been made and it generally by law. The main struggle dealing with abuse of vulnerable adults is knowing that it exists, because it’s multifaceted nature. DeHart et al (2009) cross-examined nursing home employees, policy makers and health care professionals to detect training needs of employees. They discovered that those at risk of abuse were residents who are silent, confused and incapable to communicating or those who have few visitors, as well as those who are non-compliant or with challenging behaviours. They proposed that one of the employees capabilities must be the skill ‘to identify residents’ vulnerabilities that increase the risk of their being mistreated’. A key United Kingdom survey of more than 2000 individuals of age 66 and over living in private accommodations and households discovered a variety of risk factors, precise to the category of abuse: The risk factors for neglect encompassed being female from 85 years of age, in bad health or depression and the prospect of being in receipt of, or in touch with, services. The risk of financial abuse amplified for individual living alone, in receipt of services, in bad or very bad health, older men, and women who were divorced or separated, or lonely. The risk of relational abuse (physical, psychological and sexual abuse combined) was greater in women aged 66–74 (O’Keefe et al, 2007). O’Dowd (2007), in reporting on the above research, recommended the discoveries on risk factors, citing that it should be used by local authorities to observe and act on abuse by directing assistance where it is wanted most. Appointing full-time safeguarding leads or introducing training f or all staff i.e. relevant training for all new staff, from auxiliary to consultant level, as part of its induction programme, and another where training is consolidated at handover times to keep it refreshed and serve as a constant reminder at all time. On the Aspect of Nursing Models, Nurses do require a theoretical framework to serve as a guide and support. This is predominantly so now that we confronted economic, demographic and communal variation that will possibly â€Å"value the nurse out of the market. Devoid of using theory to define what nursing is and does, it would extremely stress-free to demote the role of the Nurse to nothing else but just elementary tasks, when nursing is as a matter of fact, a multifaceted, vibrant and thought-provoking role demanding the mixture of understanding , knowledge, skills, familiarity and theory. The usage of nursing theories such as models assist nurses to make the difference amongst the contributions of the medical, nursing and other healthcare professionals and establish the worth of the nurse. Nurses are acquainted with problem-solving methods such as ASPIRE (Assessment, Systematic nursing diagnosis, Planning, Implementation, Recheck and Evaluation). However, methods like this guides in care planning, they are short on detail on how to do it. For example, a problem-solving procedure is less likely to outline questions needs asking in the course of an assessment or the interventions to be made. Nursing model can drastically improve the methods of assessment and deliver better care. (Barrett et al, 2012) Models can play a variety of roles in the career of the nurse. Take for example, the newly qualified nurse, a model will be a very import framework for the care planning process. A proficient nurse will have the ability cultivate their own diverse model, grounded on the fundamentals of different theories that fits their methodology and framework of care. In conclusion, nursing continue to offer challenging roles in dynamic, evolving healthcare environments. However, the competitive workforce means that in order to first attract and then retain nurses, Authorities in Healthcare needs to ensure that practices are contemporary and innovative. It is also important to recognise that Nurses are part of a broader healthcare team and it is appropriate that to consider and assess the best way to work with other healthcare providers to provide quality patient care now and into the future. Safeguarding adults is everybody’s business. Statutory agencies and all who work with Vulnerable Adults have the responsibility to safeguard the wellbeing and safety of Vulnerable Adults in different ways. â€Å"Safeguarding† when viewed in its wider sense of promoting the safety, wellbeing and opportunities of adults forms part of core business for all statutory agencies, for example, ensuring health and patient safety is the NHS responsibility, promoting independence and wellbeing is the responsibility of Adult Social Care, and protecting people from harm is the responsibility of the Police. For all professionals, â€Å"safeguarding† in its wider sense is part and parcel of everyday working life. However, it also refers to a very specific area of work- the reactive inter-agency response to protect Vulnerable Adults who are at risk of significant harm through abuse by another person or persons. Empowerment and choice need to be at the core of safeguarding policy and practice; this means working to enable adults at risk to recognise and protect themselves from abuse. It also means taking a risk enabling approach within services and ensuring that people who use services have genuine choice both of and within services. Bibliography Dockerty, R. (2013). Swansea nurse lecturer writes ‘Major Works’ book.Swansea University, Swansea nurse lecturer writes ‘Major Works’ book. [Online]. Available at: http://www.swansea.ac.uk/humanandhealthsciences/news-and-events/latest-news/swanseanurselecturerwritesmajorworksbook.php [Accessed: 6 November 2014]. Pridmore, J. (2010). Julia Pridmore.  Nursing Times, Julia Pridmore | Nursing Times. [Online]. Available at: http://www.nursingtimes.net/julia- /148596.publicprofile [Accessed: 6 November 2014]. Choi, N.G. and Mayer, J. (2000) ‘Elder abuse, neglect, and exploitation – risk  factors and prevention strategies’, Journal of Gerontological Social Work, vol 33,  no 2, pp 5–26. DeHart, D., Webb, J. and Cornman, C. (2009) ‘Prevention of elder mistreatment in  nursing homes: competencies for direct-care staff’, Journal of Elder Abuse   Neglect, vol 21, no 4, pp 360–78. Department of Health (2010) Prioritising need in the context of Putting People  First: a whole system approach to eligibility for social care – guidance on eligibility  criteria for adult social care, England 2010, London: Department of Health.