Discuss the impact of race, class and culture on responses to Black Essay

Discuss the impact of race, class and culture on responses to Black and minority ethnic womens experiences of domestic violence - Essay Example Therefore, this essay will discuss how the differences in race, class and culture varies the response of minority ethnic or black women’s response to domestic violence. For example, many black women would rather live in an abusive relationship instead of living singly forever (Mama, 2000 in Hanmer & Itzin, 2000). On the other hand, a white woman may not stand being a victim and demand separation. This example portrays how differently people of different cultures and ethnic backgrounds respond to domestic violence. However, this paper will discuss this in detail, while supporting arguments with various books and journals. Further more, the facts will be critically analyzed and evaluated. Additionally, subheadings will be used to categorize the important aspects of the topic. Blacks: In America, Blacks are those people of any known African Black ancestry, according to the â€Å"one-drop† rule that determined even a single drop of â€Å"Black blood† would make a person Black (Davis, n.d., p.5). Concerning who Blacks are, Graham (2002) commented that â€Å"Blacks were persons having origins in any of the black racial groups of Africa† (p. 145). â€Å"A group numerically inferior to the rest of the population of a State, in a non-dominant position, whose members being nationals of the State possess ethnic, religious or linguistic characteristics differing from those of the rest of the population and show, if only implicitly, a sense of solidarity, directed towards preserving their culture, traditions, religion or language†. (Caportorti, 1991, as cited by Malanczuk & Akehurst, 1997, p. 106) Domestic violence: this term is many a times referred to as â€Å"intimate partner violence/spouse abuse† (Castle, Kulkami & Abel, 2006: 93). One definition of domestic violence can be a trend of forceful authority which makes up physical, sexual and/or psychological assault toward an intimate partner, either current or former. There is no actual UK

Edit application Essay Example | Topics and Well Written Essays - 750 words

Edit application - Essay Example Just after I entered University, my problems began that affected my ability to concentrate on my studies resulting in the seven repeats. In 2010, my mother wanted to divorce my father to which father declined resulting in constant fighting between my parents affecting my ability to concentrate on my studies resulting in a low-grade, and I got low grades. The effect was I had to go back-on-track program in 2010, but within the same year my father went away leaving my mother without any money, and he did not provide any money for my upkeep either. Access to finances became a major problem since my mother was not in a position to find a job because she cannot speak English. I have to work to get money to finance our upkeep spending more of the time than I could concentrate on the studies. After completing the back-on-track program, I did not have enough finances for my schooling, and I had to apply for a student loan. In the time, I developed mental pressure and irregular rest owing to my school and job responsibilities to take care of myself and my mother that resulted in stomach pains. I was forced to frequently seek medical attention from the the family doctor in 2012 that in turn referred me to a specialist for further medical attention with the stomach pains increasing and affecting my studies. After medical attention from the specialist, I was informed that the cause of the stomach pains was too much pressure and in a bad mental state. By the end of 2012, I was admitted for emergency owing to a lot of stomach pain, and I spit blood. The sickness and family pressure affected my ability to concentrate on my studies resulting in the repeats. The stomach pains did not recede even after treatment, and I was forced to take a term of in 2013 spring taking the time to go back to China for treatment. From that point forward my health situation improved and I was in a position to start my University education again. I took Math 157, Econ 103,

Meeting Needs of Children with Incarcerated Mothers

Meeting Needs of Children with Incarcerated Mothers RESTRICTED CHAPTER FIVE FINDINGS AND DISCUSSIONS INTRODUCTION This study was aimed to determine whether the basic needs are met or not by the children of incarcerated mothers in Welikada prison. This chapter facilitates a discussion on the testing and finding relevance to the previous chapter corresponding to the defined hypothesis. Further, facts and figures and results will be discussed and it will also analyse the cross references to the literature reviewed. DISCUSSION BASED ON THE LITREATURE REVIEW As per the World Bank definition â€Å"Early childhood is the most rapid period of development in a human life. Although individual children develop at their own pace, all children progress through an identifiable sequence of physical, cognitive, and emotional growth and change. The Early Child Development (ECD) approach is based on the proven fact that young children respond best when caregivers use specific techniques designed to encourage and stimulate progress to the next level of development†. Many theorists have developed different concepts on the child development process, but once analyse all those very carefully, it seems that the idea is almost same which they have tried to prove. These theorists have discussed the development of human life in different stages of ages, here it is considered only the early childhood development up to the age of 5 years. Based on the literature review, it was analysed the international policy and trends in the care of children born behind bars. Most of the countries adopt the similar procedure that when a pregnant woman is imprisoned, she will be transferred to an outside hospital to give the child birth. This will be done to ensure the appropriate medical care and to avoid the place of birth place being as prison in the birth certificate. 5. In some countries, just after the child birth, they are separated from mother and kept in foster care or handed over to their relatives. This will negatively be affected to the children’s basic needs in their early childhood development such as breastfeeding, mother’s care and mother-child interaction and bond. However, in most states, the breastfeeding is encouraged. Many arguments indicate that child should not be separated from his mother in early stage of a child. In some of the low income countries, the baby delivery is carried out in the pris on. This will give number of health complications for both mother and child. Although some of facilities are available in the prison environment for the child living, they are not directly addressed to the children’s mental, emotional and physical development needs. In some prisons like in Cambodia and India, the mothers and children are not provided with adequate and also extra foods for children, clean water, washing and hygiene facilities, etc. Further, the children’s access to play, education, social interaction with other children and also to the outside of the prison environment are not properly addressed. Due to these reasons, the children of incarcerated mothers face many difficulties in their early childhood while living in the prison environment. Therefore, these literatures indicate that children born behind the bars are facing many development difficulties in their early childhood. However, some prisons like in Canada and Austria provide well advance facilities for mothers and child living in the prison as compared to the other prisons in the world. Although the adequate facilities are provided, the only drawback is the interaction of the children to the outside society is poor. This will affect to the children’s emotional, psychological and social development. (INTENTIONALLY LEFT BLANK) DISCUSSION BASED ON THE DATA PRESENTATION AND FINDINGS This sample survey was mainly focused to the mothers of children born behind the bars in Sri Lankan prisons. Due to the existing limitations for conduct this research, this survey was restricted only to Welikada prison. During the conduct of survey, it was found that only there were 16 children mothered to 15 incarcerated women. One woman had two children. The existing policy for care of mothers and children was thoroughly analysed during this survey. The pregnant mothers are provided maternity care from outside government hospitals same as other women and also it helps the children to avoid their birth place as prison in their birth certificate. Although the nursery facilities are not functioned as outside, it helps the children to develop their educational, language and cognitive development needs. Further, when the child comes to the age 5 years, he will be separated from the mother and handover to his relatives of kept in foster care. It seems a positive sign that child may get a opportunity to expose to the outside society. SURVIVAL AND LIFE SUSTAINING NEEDS The sample survey highlights some positive signs related to the survival and life sustaining needs for the children of incarcerated mothers in Welikada prison. Though the pure water, food, air, cloths and warmth are satisfactorily addressed, there is some shortage of cloths, variety of food items and extra foods. The provision of same types of food every day will lead the children to refuse the meals. However, these concerns are minor and probably better when consider the respondents’ socio-economic situations in outside the prison. Further, the children are provided with breastfeeding and being with mothers throughout the imprisonment until the child’s age of 5 years. These aspects are positively driven to the children’s physical, emotional developments. LIFE EMBELLESHING NEEDS The needs for the life embellishing development such as provision of toys, some fantasy and entertainment activities are not addressed satisfactorily, but they get enough opportunities to play with other children in the prison premises. However, these activities are restricted to a one particular area inside the prison wall. This restrictive environment hampered the children’s opportunities to explore as well as experience a variety of stimuli. Hence, these areas do not enhance the developmental opportunities of a child through the play. This will negatively affect to the children’s physical, social and emotional development. LIFE PROTECTING NEEDS Both the children and mothers are provided with the separate accommodation without merging with other prisoners, but it is not separated for each mother and child, everybody is living together in a single hall sharing two toilets amongst them. This affects to the child and mother’s well-being and hygienic issues and result in environmental stressors. The toilets and the accommodation areas are not always kept in very clean. The use of two toilets daily by 16 children and 15 mothers is a big issue which children face in the prison premises. Sleeping facilities for mother and child at Welikada prison is not beneficial for the development young children. It is depersonalising and depriving. It makes further worst by the situation that mothers and their children are confined to this area for longer period. The impacts of those are reflected in the mothers’ emotional state and then to the children. It seems that though the children and mothers are separated from other prisoners, the women prisoners have access to children’s living area. This will create number of negative effects on children such as expose to their bad behaviour and languages. It will obviously become a threat to the security of the children and especially for their physical development. Further, there may be some psychological effect on children as creating a unusual fear on men due to the children are always interact only with the women prisoners. On the other hand, these children are at a risk of child abuse and sexual harassment by the other prisoners. The health care facilities provided for the mothers and their children are not fully satisfied. The pregnant mothers have to go outside government hospitals for clinics and baby delivery, but it is also not a regularly happening. Once the baby delivery is done, the provision of care of Midwives for mother and baby will not be available in the prison premises. Further, if someone becomes ill during the night, there is no any medical section to deal with that and they need to call for prison authority for the arrangement to take the patient to outside government hospital. Further, the immunization vaccines are given to the children of different age categories, but the findings realized that they are not getting it at correct time. In accordance with the findings of children’s low weight, shortness and deficiency of vitamins are badly affected to the child development. These indicators show that children face many difficulties during their early childhood development. LIFE DEVELOPING NEEDS The children get enough leisure time and their mothers are also not engaging any activity other than their children. The available nursery helps children to enhance their educational measurer. The children’s access to freedom and thought and information is very low. They have been provided with one television in the hall, but it will not suffice to fulfil the requirement of the children. Above facts clearly indicate that these children have lesser possibility to expose to the outside society. Hence, this will lead to the risk of negative social and academic outcomes and unusual fear to outside people once they discharge from the prison. Further, they have opportunities to participate the religious activities inside the prison, but no cultural activities take place. All above factors discussed are directly affected to the social, emotional and cognitive development of a child. LIFE ENRICHING NEEDS In this aspect, children are benefitted up to certain extent through the prison nursery education. Though they have been tried to develop in this field, children are always exposed to prisoners and their environment. Hence, it is very difficult to get rid of them from that particular society system. Ultimately, this may be resulted to the risk of school failure and fall into conduct some criminals once they come out from the prisons. MOTHER-CHILD INTERACTION AND BOND Mother-child interaction and bond may not be happened automatically, but it may develop gradually over the time which they live together. In the Sri Lankan prison policy, mothers are allowed to keep their children up to the age of 5 years during their incarceration. It was proved during the sampling survey that the attachment existing between mothers and children is either anxious or ambivalent. Based on the literature review and findings from all the surveys, it is concluded that the best interest for the child is not to incarcerate with his mother. RELATIONSHIP WITH OTHERS It is obvious that a child who stays with his incarcerated mother will not have opportunities to form an attachment with the rest of his family (especially with father), relatives and others in the society. In this regard it can be concluded that the child who stays with his incarcerated mother is prevented and restricted in his social development. However, it can be concluded as the prison environment is not favourable to the physical, emotional, social and psychological development of a child.

Development of the Montessori Method Essay -- Maria Montessori ISD Met

Maria Montessori and the ISD Model: Development of the Montessori Method Summary The paper I prepared begins with a description of the Montessori Method and a historical narration of the professional career of Dr. Maria Montessori. I also included some biographical information as to her origins and the identity of her parents. I then drew a comparison of her methods for developing the Montessori Method and her career to the ISD model. I compared significant events in her career to the analysis phase. Explaining that her experience with children lead her to develop her programs. Then I drew a comparison to her work with the design and development phases, citing her materials that she uses in her classrooms and the classrooms themselves. Finally I compared her implementation and subsequent discoveries to the implementation and evaluation phases in ISD. I concluded with my own personal opinion, that Maria Montessori was an innovator and mostly responsible for modern education. I used four directly quoted sources, one solely paraphrased, and one merely for research a nd background information. Since the late Nineteenth Century, educators and medical professionals have been concerned with the physical and mental development of children between the ages of two and seven years. During the first part of the Industrial Revolution and through the beginning of the Twentieth Century, conditions in the cities and industrial centers were deplorable. Adult workers were forced to work long hours and under extreme conditions, likewise children were made to endure arduous working environments with little or no concern for their well being, short of their ability to contribute to the work force. In Upton Sinclair's book, The Jungle, he des... ...ontessori, there is a distinct pattern to her development that is remarkably similar to those proposed by the ISD model. References Works Cited Gettman, D. (1987). Basic Montessori : learning activities for under-fives. New York: St. Martin's Press. Montessori, M. (1964). Dr. Montessori's own handbook. Boston: Robert Bentley, Inc. Pines, M. (1967). Revolution in learning: the years from birth to six. New York: Harper and Row Publishers. Sinclair, U. (1960). The Jungle. New York: The New American Library of World Literature. Standing, E.M. (1962). Maria Montessori: her life and work. New York: The New American Library of World Literature. Other Sources Braun, S. J. (1974). Nursery education for disadvantages children: an historical review. In Montessori in perspective. (pp. 7-24). National Association for the Education of Young Children: New York. Development of the Montessori Method Essay -- Maria Montessori ISD Met Maria Montessori and the ISD Model: Development of the Montessori Method Summary The paper I prepared begins with a description of the Montessori Method and a historical narration of the professional career of Dr. Maria Montessori. I also included some biographical information as to her origins and the identity of her parents. I then drew a comparison of her methods for developing the Montessori Method and her career to the ISD model. I compared significant events in her career to the analysis phase. Explaining that her experience with children lead her to develop her programs. Then I drew a comparison to her work with the design and development phases, citing her materials that she uses in her classrooms and the classrooms themselves. Finally I compared her implementation and subsequent discoveries to the implementation and evaluation phases in ISD. I concluded with my own personal opinion, that Maria Montessori was an innovator and mostly responsible for modern education. I used four directly quoted sources, one solely paraphrased, and one merely for research a nd background information. Since the late Nineteenth Century, educators and medical professionals have been concerned with the physical and mental development of children between the ages of two and seven years. During the first part of the Industrial Revolution and through the beginning of the Twentieth Century, conditions in the cities and industrial centers were deplorable. Adult workers were forced to work long hours and under extreme conditions, likewise children were made to endure arduous working environments with little or no concern for their well being, short of their ability to contribute to the work force. In Upton Sinclair's book, The Jungle, he des... ...ontessori, there is a distinct pattern to her development that is remarkably similar to those proposed by the ISD model. References Works Cited Gettman, D. (1987). Basic Montessori : learning activities for under-fives. New York: St. Martin's Press. Montessori, M. (1964). Dr. Montessori's own handbook. Boston: Robert Bentley, Inc. Pines, M. (1967). Revolution in learning: the years from birth to six. New York: Harper and Row Publishers. Sinclair, U. (1960). The Jungle. New York: The New American Library of World Literature. Standing, E.M. (1962). Maria Montessori: her life and work. New York: The New American Library of World Literature. Other Sources Braun, S. J. (1974). Nursery education for disadvantages children: an historical review. In Montessori in perspective. (pp. 7-24). National Association for the Education of Young Children: New York.

Neuromarketing: A Brave New World of Consumerism

Introduction t this point in our social history we are experiencing trends in marketing and consumerism that no cultural phenomena in antiquity has prepared us for. Each day between the hours of waking and sleeping we are exposed to 3000 – 5000 marketing messages across every shape and flavor of media mankind has been able to devise In good conscience (Story 2007). Every niche, of every segment, of every market, for every product, has a multitude of competitors vying for space of mind, seeking to differentiate, remind, inform, or persuade themselves into our lives and shopping trellises (Copley 2004).This clutter, consternation, and competition has taken the humble consumer transaction to be something more akin to game theory, and contemporary marketing strategy has become a battle of minds and wills (Lee, Frederick, and Chamberlain 2007). Each new generation of consumer finds themselves delivered deeper Into an environment of Increasing media and message saturation.But, with every generational cycle a further sophistication In the adaptive discretionary filtering system is created in order for these individuals to preserve some degree of highly guarded ‘psychic space', and as such ‘marketing professionals re keenly aware of the obstacles posed by both information-processing limitations and viewer opposition' (Rumba 2002). ‘The multiplicity of advertising messages to which each consumer is exposed dictates that advertisers place a lofty premium on the much-coveted psychic space of their Intended message recipients.Moreover, marketers Increasingly find themselves trying to reach target audiences who have an arsenal of cognitive, behavioral, and mechanical strategies for ad avoidance at their disposal' (Speck and Elliott 1997). Further adding to this already encumbered media/ immunization sphere is also the weight and complexity of the postmodern condition in which Goldman (1992) speaks of ‘relentless scrambling of signified and sig nifier, mixing and matching meanings' and Brown (1995) goes on to highlight ‘practices such as fragmentation, De-deliberation, hypnotherapy, chronology, pastiche, pluralism and anta-functionalism'.This escalating complexity of exchange devised for increasingly more sophisticated and media salt-Ð’Â »,' consumers attempts to side-step any ‘predictability of antiquated advertising conventions that could no longer pass through the filters of seasoned postmodern nonusers' (Goldman and Passion 1994).What remains is the perfect storm of social complexity, ever-changing message filtering, and big-business ‘sign wars' which has left some marketers believing that turning to the dark arts Is the only way to get ahead in marketing communications, with notably one energy drink brand literally and comically commissioning a Haitian priestess to channel a foul-mouthed voodoo deem-god to help design their advertising campaign (Panamas 2010). Enter stage left – marketing' s. Thin such a relatively young field of inquiry the precise definition of marketing's s still finding its footing with conflicting definitions still being proposed and utilized by divergent agents within the realm (Fisher 2010). Perpetuating this conflict is the notion that academia and industry share limited cohesion in exploring this field, that private enterprises do not tend to publish findings or share proprietary information, and that more has been published about marketing's across the popular media, relative to the traditional tome of recognized peer-reviewed publications (Fisher 2010).In spite of this, Lee (2007) proposes that ‘marketing's as a field of study an simply be defined as the application of neuroscience methods to analyses and understand human behavior in relation to markets and marketing exchanges' and Fisher (2010) notes that marketing's ‘can be tentatively defined as marketing designed on the basis of neuroscience research'. These proposed definit ions avoid the subjective bias embraced by some proponents and detractors and are a suitable explanation of the topic for the purposes of this discussion.As brain sciences increasingly inform our daily lives, social practices, and intellectual discourses, ornamenting has become one of a collection of developing fields to gain the ‘neuron' prefix along with neuroscience, neurasthenics, neuropathology, and neurotically – these fields now collectively earning the moniker ‘neuromuscular', ‘and the brain-based explanations arising from it are progressively influencing public notions of personal identity, responsibility, and causation' (Fisher 2010).Why Marketing's? He most acute advantage thought to stem from the utilization of neuroscience in examining an individual's response to market based inquiries is its unfiltered objectivity and unbiased honesty. Typically the self-assessment measures commonly used in marketing research rely totally on the ability and wil lingness of the respondent to accurately report their attitudes and/or prior behaviors' (Petty and Caption 1983).However, it is believed that the brain approximately expends only 2 percent of its energy on conscious activity with the remaining majority devoted to unconscious thought and processes, thus, neurotransmitters believe, traditional market research methods ? like consumer surveys and focus groups ? are inherently inaccurate because the participants can never articulate the unconscious impressions that whet their appetites for certain products' (Singer 2010).In addition to this intrinsic inability for an individual to access all relevant perceptual data, this error factor cumulatively adds to any conscious or even unrecognized desire the respondent may have to please or deceive the information gathering unit, even further exaggerating the potential for inaccurate measurements. In contrast, physiological responses can be collected when respondents are actively partaking in re search activities and are difficult for subjects to control, although not difficult to affect (Petty and Caption 1983).In many ways marketing's is the lie detector of the marketing industry, but the potential application is much greater than simply extracting truthful responses, it may prove instrumental in uncovering the processes and transparent way than marketers have previously had access to. The benefits of marketing's are obvious when framed in the above context. This field creates the possibility for marketers to understand consumers to an extent that a myriad of techniques over many decades of investigation have only ever been able to scratch at the door of.Felt (2007) believes that, assuming the science can be translated into meaningful technology the power and the precision of the retrieved data as a management tool could prove sublime, it would finally enable marketers to reach out and pinprick consumers without using broad strokes'. â€Å"In fact, exploring exactly what elements of an advertisement are critical to awareness, attitudes and evaluations of products, and whether these differ for different groups, should reduce firms' reliance on the ‘blunt instruments' of blanket coverage, shock tactics, or sexual imagery' (Lee 2007).The Marketing's Mix he research generated by any given marketing's firm is of course a product article and as such marketing mix considerations are a requirement of presenting to the market, however, the more significant discussion is the current and conceivable application of this technology to play a major role in guiding and optimizing each of the up's of the marketing mix for utilities. Them Noble, Managing Director of ‘Neurotics' a major player in the burgeoning marketing's industry, has stated that ‘all the biggest brands are using it†¦ But most of them are keeping it to themselves†¦ Even so, marketing's has become a key part of today's marketing ix' (Fagan 2011). The technology is believ ed to be equally applicable to each of the seven aspects of the mix provided a suitable interpretation model is utilized to rationalist the raw data. The up's the literature most commonly discourses are reviewed below. Product Typically product designers refer to consciously generated studies of consumer preferences to inform the process, in such inquiries subjects are likely to be influenced by ‘normative expectations and social influences' (Figurate 2007).For example, survey research typically reports that women find wrestler-turned-action ere ‘The Rock unattractive ‘but their brain activity says otherwise: areas associated with attractiveness light up when women watch him on screen' (Singer, 2004). Bruit (2004) mentions that some tests conducted for Demolisher's showed that certain products can activate the self-reward centre of the brain which is the same region that natural stimulants such as sex, chocolate, and cocaine trigger, this action is aroused by the r elease of the molecule dopamine and releases endogenous opiates – substances linked to lust and pleasure'.Whilst this trigger is not a guarantee of arches, all other things being equal – designs that create pleasure are far more likely to be purchased than those that do not (Figurate 2007). Price Lee (2007) states that ‘pricing seems to lend itself almost perfectly to normalizing research' and believes that age old questions like why â€Å"prices such as ‘$4. 99' are perceived as significantly cheaper than those such as ‘$5. 00† could be answered by simultaneously exploring the temporal and spatial nature of brain activity.Through utilizing this technology marketers can not only underpin optimal pricing strategies but also understand how and why pricing perceptions are formed. Place customers to seeing, hearing, feeling, touching, tasting, and smelling stimuli, stores may be able to customize environments to enhance the consumer experience, or weight the chances of a sale. ‘For example, if normalizing data suggest a positive response to the touching of Jewelry, the consumer may experience a personalized discount prominently displayed in their sightline in order to provide encouragement for purchase' (Wilson 2008).Promotion Measurement of advertising messages and their success in provoking emotional responses can be gauged, and assumptions can be made about the subject's unconscious thought patterns depending on which areas of the brain ‘light' up (Figurate 2007). The reaction an agency wishes to evoke with a given advertisement e. G. Excitement, passion, hostility, humor, attention, etc. ; can be transposed to the brain map where these concepts are processed. If that brain area is unaffected after exposure to the advertising stimulus, it is obvious that the advertisement has failed this crucial test' (Figurate 2007) Schafer (2005) also states that ‘neural scanning might be able to predict the strength of advertising recall for specific advertisements'. The History he earliest reported use of the term marketing's first appeared in a press release in July 2002 by Atlanta based advertising agency ‘Birthrights' announcing the creation of a new business division which utilized functional magnetic resonance imaging (fem.) for purposes of marketing research (Wilson 2008; Fisher 2010).However, the Economist (Inside the Mind of the Consumer 2004) duly notes that Harvard Professor-Emeritus Gerald Coalman filed a patent for ‘normalizing as a marketing tool' in the late sass's approximately four years prior to Brightness's suspicious press release. In spite of this, some observers consider this technology to be part of a continuum that has been ongoing for much longer. â€Å"Marketing's is simply the latest incarnation, says Joseph Throw, a professor of communication at the Ennobler School for Communication at the University of Pennsylvania. There has always been a holy grail in a dvertising to try to reach people in a hypodermic way,' he says† (Singer 2010). Educated observers also make note that Journalist and social critic Vance Packard (1957) wrote ‘The Hidden Persuaders' more than 50 years ago which is still considered to be a seminal work, which outlines how advertisers play(deed) on people's unconscious desires in an attempt to influence them. Run for our Lives? Neatly probing consumers for answers to every fear, desire, motivation, and preference in underpants color has begun to beg the question in some quarters, should we love this or fear it? It appears from the outset that this technology has been spawning controversy; however, some of this contention seems not to be entirely new in nature but the amplification and reinvigoration of well disputed ground, freshly driven by this new and acute mechanism.The contention largely remains in determining whether using such technology to understand the desires of consumers will be useful for serv ing them, or used for manipulating them, in short, is actions of a great many organizations and individuals, the main objective of marketing is to help match products with people (Rarely 2010; Kettle, Keller, and Burton 2009). ‘Marketing serves the dual goals of guiding the design and presentation of products such that they are more compatible with consumer preferences and facilitating the choice process for the consumer' (Rarely 2010).Marketing as ethical or unethical in practice is a purely a determination to be made on a case by case basis, not generalized in overarching sweeps. Rallies (1999) surmises that the organizational factors contributing to principled business undertakings or in fact impeding a unified ethical framework are moral reasoning, organizational ethical climate, level of economic development, and cultural dimensions, Murphy (2005) suggests on an individualistic level that indicative qualities can be determined from virtue and character ethics utilizing me asurements of the five core virtues of – integrity, fairness, trust, respect and empathy.In comprehension, understanding the afore is to recognize that marketing's (like most industries,) exists within a context of moral heterogeneity and the concerns that exist toward the frayed edge of the ethical fabric, underpin a movement of anxiety toward the potentiality of neuron-techniques to probe the subconscious mind, and the conceivability of these vehicles to unduly influence consumers, turning them into shopping robots without their knowledge and consent' (Singer 2010).Singer (2010) states that â€Å"marketing's is setting off alarm bells among some consumer advocates, who call it ‘brainwashing ? an amalgam of branding and brainwashing†. ‘Our contention is that neuroscience findings and methods hold the potential for marketing practices that threaten consumers' abilities to follow preferences and dictates according to free will' (Greene 2003).The controversy and paranoia surrounding a field that is yet to be evidenced or indicted of unethical practice is so potent that Senior and Senior (2008) have felt compelled to draft ‘A Manifesto for Marketing's Science' to guide the ethical functioning of practitioners, quell some f the fears of alarmists, and address potential dilemmas arising on this new frontier.The Advertising Research Foundation has also seen fit to undertake a collaborative study with the major operators in the marketing's industry to establish and implement the ‘Northeastwards Initiatives' agenda and determine ethical working canons for the field (ARP Announces Groundbreaking Northeastwards Study 2010). In addition to this above, the exploratory academic discipline of neurotics has continued to grow in unison with the developments in neuroscience research and neuromuscular, informing it all the while.Irrespective of the development in ethical governance, detractors warn that we do not have a current legal and so cial structure equipped to address technologies that are intentionally designed for subconscious persuasion. Singer (2010) states that ‘if the advertising is now purposely designed to bypass those rational defenses, then the traditional legal defenses protecting advertising speech in the marketplace have to be questioned'.We are also warned that many legally and morally ambiguous issues will arise with the increase in marketing's usage such as Who ultimately owns brain scans, whether scans can e sold to other persons or institutions, and what happens to extraneous information, such as health problems, revealed by the scans' (Wilson 2008). The array positron emission tomography (PET), magnetoencephalography (MEG), functional magnetic resonance imaging (fem.), electroencephalography (EGG) galvanic skin response (USSR), eye tracking technology, electrocardiography, and electromyography (Figurate 2007; Lee 2007).It is noted that any corporeal measurements gained through the use of these instruments are strictly limited by the skill the interpreter has in correlating bio-readings to mental/emotional states, and therefore into actionable ATA. There has been some research to show that imagery favored in traditional research preference tests are often not the ones that stimulate the emotional centers of the brain (Uncommon 2007), according to People (quoted in Harris 2006) however, emotion is one of the major keys to all marketing and by monitoring brain activity we can get very good indication of when an emotional connection has been made.Unfortunately, these results can only reveal activation correlated with particular imagery but cannot predict outcomes with certainty, and it does in fact highlight the actuality that there is ‘no direct link between arousal and behavior; no measure of purchase intent' (Figurate 2007). According to James (2004) the only time a human being cannot help acting on arousal is as a toddler'.Some critics throughout the literatu re have argued for the existence of a ‘buy button' in the brain, the above suggests that there could be no overriding of an individual's cognitive control and ‘current evidence suggests that the cognitive processes associated with purchase decisions are multi factorial and cannot be reduced to a single area of activation' (Rarely 2010). In the face of decries and skeptics Joey and Kilts Remain, Brightness's CEO and founder claim that rather than forecasting the shopping behavior of individuals, marketing's will help develop an understanding of how people develop preferences. Our goal is to change company, not consumer, behavior,† says Remain. He adds that this philosophy could improve advertising ethics. â€Å"What if you could, for example, show a company that their moral and ethical behavior has a bigger influence on consumer preference than the color of their packaging or current tag line? â€Å"‘ (Singer 2010). New Scientist magazine conducted a est. of marketing's to choose the ‘most attention getting cover for its 5th August 2010 issue.Nineteen readers of the magazine were shown three alternative covers during EGG tests from which one was ultimately selected. The ultimate result of this experiment and the ensuing cover choice, was a 12% increase in sales year-on-year and the second highest selling issue of the year which the deputy editor Graham Layton claimed was â€Å"unheard of in August† (Tartan 2010). Outside of this, virtually no other results have been published either confirming or condemning the predictive ability of marketing's in the marketplace.However, the one strong virtuous indicator that does exist, is the very fact that a multitude of global companies such as Google, CBS, Frito-Lay, Demolisher's, Brown-Foreman, General Motors, American Express, Campbell Soup, MAT, Disney Media, Heresy's, Millimeters, Colgate- Palmolive, NBC, ESP., and Turner Broadcasting are utilizing this technology as a regular co mponent of their own brand research efforts (ARP Announces Groundbreaking Northeastwards Study 2010; Rarely 2010; Figurate 2007; Bruit 2004). E detractors of marketing's see a dyspepsia future ahead, they envisage a world here we all become little more than purchase-making drones, slaves to big business recklessly pushing away at ‘buy buttons' in our brains to move their wares and their stock prices. Valid concerns have been raised from some quarters citing the potential for the increase of ‘marketing-related diseases' such as obesity, heart disease, and similarly related health issues (Fisher 2010).What we understand from the above however, is that marketing's cannot now or any currently conceivable point in the future, have any ability to override an individual's cognitive control. Marketing's may help to design a more attractive car but will never have the ability to make a man sell his children to purchase it. Even with the limitations of the technology, neurotransmi tters and researchers alike are currently exploring the ethical parameters of the field in order to create a unified framework for operation and quell concerns that vocal outliers currently raise.The primary purpose of this technology, as is the purpose of all marketing research, is to better understand the needs and wants of consumers, the biggest problem with traditional research is the intimidation by a participant's own cognitive bias, or as advertising legend David Googol once said: â€Å"The trouble with market research is that people don't think how they feel, they don't say what they think and they don't do what they say' (quoted in Scar 2011).

All I really need to know I Learned in Kindergarten Essay

I can remember my mother telling me for a few weeks before the first day how wonderful school was going to be and how I would meet loads of new friends. She also told me that the other kids are going to be scared just like I was. Turning five years old, and knowing that it was time for me to begin school already, was really very scary. The thought of waking up early and going to school and not being with my mom all morning made me feel sick to my stomach, but I just had to suck it up and go. The first day of kindergarten I was sad but also excited at the same time because I was going to meet new friends and I was going to get to play with them during recess. I remember walking into school with my new back pack; they were the ones that had to two little wheels on it so you wouldn’t have to carry it. As I was getting dropped off and hearing my mom telling me bye I started to cry. Being really close to my mom I didn’t want her to leave me there all alone. So we walked in together and she told me that I was going to be all right. My mom and my new teacher, Mrs. Fossum were having a hard time getting me to stay there. After they saw that I wouldn’t stay, my mom had to stay there with me thru out that whole day. As the first day went on I was making a bunch of friends with my new classmates. When the second day came I wanted my mom to stay at school but I realized that she had to go to work. After she had left I saw a table that had some crayons and some paper on it, so I ventured over to it and stood by the seat watching to see if anyone was going to stop me from drawing. No one came so I took a seat, a piece of paper, and of course a blue coloring pencil just like the one I had at home and started to draw. When the other children saw that I was already hard at work with my drawing, which somewhat looked like a cow, they came and sat down with me. Even the child that didn’t want to leave his father noticed me and came over and started to draw. The little boy started to ask me questions and once he started then everyone started to include me into their group. I learned at a young age that I was not very comfortable meeting new people and doing thing on my own. My mother realized that Mitchell School system was too big of a school for my type of personality and that I do better when I don’t have to adapt to much change.

Texas vs Johnson essays

Texas vs Johnson essays H.W. 46 What role did Theodore Roosevelt play in the Progressive Movement? 1. Define what Roosevelt meant by Square Deal Roosevelt meant by the Square Deal that the mining operators did not have a choice. They had to submit to what the government said and had to make a deal with the union, led by Mitchell. In a sense, they really had no end in the, consequently called the 2. Explain Roosevelt role in the a) anthracite coal strike b.) Northern Securities Case c) Hepburn Act d) conservation of natural resources Anthracite Coal Strike - Many miners were dying needlessly every year. The men received no raise in wages in 20 years. They were paid by the weight of the coal they dug, but the companies were not weighing honestly. By 1902 they could not dig anymore. John Mitchell became leader of the union with 150,000 strong. After TR. got involved they resolved the strike and the union and workers got mostly what they asked for. Northern Securities Case - It was a holding company, a corporation set up to hold a controlling part of the stock of other companies. It was formed by James J. Hill of the great northern.,the rockefellers, JP Morgan, and EH Harriman. They brought peace between the competitors over the stock of one of the railroads. These men with great wealth had plagued a whole region and disrupted the nations stock market by their fight for monopoly. So TR. sued them. He said that they violated the Sherman Antitrust Act. The court then asked that it dissolve. Hepburn Act (1906) - Gave the ICC power over pipelines, express and sleeping car companies, bridges, ferries, and terminals. Railroad rebates and free passes were forbidden. If a shipper complained about any unfair rate, the Commission could reduce the rate until a federal court ruled on its fairness. It marked a major step on the path to effective federal regulation of business. ...

Measuring Quality of Life Based on Geography

Measuring Quality of Life Based on Geography Perhaps the most important aspect of living that we sometimes take for granted is the quality of life that we receive by living and working where we do. For instance, the ability for you to peruse these words through the use of a computer is something that might be censored in some Middle Eastern countries and China. Even our capability to walk safely down a street is something that some countries (and even some cities in the United States) may lack. Identifying areas with the highest quality of life offers an important view of cities and ​countries while providing information for those hoping to relocate. Measuring  Quality of Life By Geography One way of looking at a places quality of life is by the amount of output it produces each year. This is especially handy in the case of a country considering many countries have varying degrees of production, differing resources, and distinctive conflicts and problems within them. The major way of measuring a countrys output per year is by looking at the countrys gross domestic product, or GDP. The GDP is the amount of goods and services produced within a country annually and is typically a good indication of the amount of money flowing in and out of the country. When we divide a countrys total GDP by its total population, we get GDP per capita which reflects what each individual of that country takes home (on average) per year. The idea is that the more money we have the better off we are. Top 5 Countries with the Largest GDPs The following are the top five countries with the largest GDPs in 2010 according to the World Bank: 1) United States: $14,582,400,000,0002) China: $5,878,629,000,0003) Japan: $5,497,813,000,0004) Germany: $3,309,669,000,0005) France: $2,560,002,000,000 Countries with Highest-Ranked GDP Per Capita The five highest-ranked countries in terms of GDP per capita in 2010 according to the World Bank: 1) Monaco: $186,1752) Liechtenstein: $134,3923) Luxembourg: $108,7474) Norway: $84,8805) Switzerland: $67,236 It seems that small developed countries are ranked the highest in terms of per capita income. This is a good indicator to see what the average salary is of a country but can be a bit misleading since these small countries are also some of the richest and, therefore, must be the most well off. Since this indicator can be a bit distorted due to the population size, there exist other factors which further inform quality of life. Human Poverty Index Another metric for looking at how well-off a countrys people are is to take into consideration the Human Poverty Index (HPI) of the country. The HPI for developing countries represents quality of life by formulating the probability of not surviving to age 40, the adult literacy rate, and the average amount of the countrys population who have little to no access to clean drinking water. While the outlook for this metric is seemingly dismal, it does provide important clues as to what countries are better off. There is a second HPI that is used mostly for those countries that are considered developed. The United States, Sweden, and Japan are good examples. The aspects that are formulated for this HPI are the probability of not surviving to age 60, the number of adults lacking functional literacy skills, the percentage of ​the  population with income below the poverty line, and the rate of unemployment lasting longer than 12 months. Other Measures and Indicators of Quality of Life A well-known survey that attracts a lot of international attention is the Mercer Quality of Living Survey. The annual list places New York City with a baseline score of 100 to act as the median for all other cities to compare with. The rankings consider many different aspects from cleanliness and safety to culture and infrastructure. The list is a very valuable resource for ambitious companies looking to set up an office internationally, and also for employers to decide on how much to pay at certain offices. Recently, Mercer began to factor in environmental friendliness into their equation for cities with the highest qualities of life as a means of better qualifying what makes a great city. There exist a few unusual indicators for measuring quality of life as well. For example, the king of Bhutan in the 1970s (Jigme Singye Wangchuck) decided to overhaul the Bhutanese economy by having each member of the country strive for happiness as opposed to money. He felt that GDP was rarely a good indicator of happiness as the indicator fails to take into account environmental and ecological improvements and their effects, yet includes defense expenditures that rarely benefit a countrys happiness. He developed an indicator called Gross National Happiness (GNH), which is somewhat difficult to measure. For instance, while GDP is an easy tally of goods and services sold within a country, GNH doesnt have much for quantitative measures. However, scholars have tried their best to make some sort of quantitative measurement and have found a countrys GNH to be a function of the well-being of a human in economic, environmental, political, social, workplace, physical, and mental terms. These terms, when aggregated and analyzed, can define how happy a nation is. There are also a number of other ways to quantify ones quality of life. A second alternative is the genuine progress indicator (GPI) which is similar to GDP but instead looks to see if a countrys growth has actually made people better off in that nation. For instance, if the financial costs of crimes, environmental degradation, and natural resource losses are higher than the financial gains made through production, then the countrys growth is uneconomic. One statistician who has created a way to analyze trends in data and growth is the Swedish academic Hans Rosling. His creation, Gapminder Foundation, has compiled plenty of useful data for the public to access, and even a visualizer, which allows for a user to look at trends over time. It is a great tool for anyone interested in growth or health statistics.

South Africa Geography and History

South Africa Geography and History South Africa is the southernmost country on the African continent. It has a long history of conflict and human rights issues but it has always been one of the most economically prosperous nations in southern Africa due to its coastal location and the presence of gold, diamonds and natural resources. Population: 49,052,489 (July 2009 est.)Capital: Pretoria (administrative capital), Bloemfontein (judiciary), and Cape Town (legislative)Area: 470,693 square miles (1,219,090 sq km)Coastline: 1,738 miles (2,798 km)Highest Point: Njesuthi at 11,181 feet (3,408 m) History of South Africa By the 14th century C.E, the region was settled by the Bantu people who migrated from central Africa. South Africa was first inhabited by Europeans in 1488 when the Portuguese arrived at the Cape of Good Hope. However, permanent settlement didnt occur until 1652 when the Dutch East India Company established a small station for provisions on the Cape. In the following years, French, Dutch and German settlers began to arrive in the region. By the late 1700s, European settlements were spread throughout the Cape and by the end of the 18th century the British controlled the entire Cape of Good Hope region. In the early 1800s, in an effort to escape British rule, many native farmers called Boers migrated north, and in 1852 and 1854, the Boers created the independent Republics of the Transvaal and Orange Free State. After the discovery of diamonds and gold in the late 1800s, more European immigrants arrived in South Africa and this eventually led to the Anglo-Boer Wars, which the British won, causing the republics to become part of the British Empire. In May 1910, though, the two republics and Britain formed the Union of South Africa, a self-governing territory of the British Empire, and in 1912, the South African Native National Congress (eventually called the African National Congress or ANC) was founded with the goal of providing blacks in the region with more freedom. Despite the ANC in an election in 1948, the National Party won and began passing laws enforcing a policy of racial separation called apartheid. In the early 1960s, the ANC was banned and Nelson Mandela and other anti-apartheid leaders were convicted of treason and imprisoned. In 1961, South Africa became a republic after it withdrew from the British Commonwealth because of international protests against apartheid and in 1984 a constitution was put into effect. In February 1990, President F.W. de Klerk, unbanned the ANC after years of protest and two weeks later Mandela was released from prison. Four years later on May 10, 1994, Mandela was elected as South Africas first black president and during his time in office he was committed to reforming race-relations in the country and strengthening its economy and place in the world. This has remained the goal of subsequent governmental leaders. Government of South Africa Today, South Africa is a republic with two legislative bodies. Its executive branch is its Chief of State and Head of Government- both of which are filled by the president who is elected for five year terms by the National Assembly. The legislative branch is a bicameral Parliament composed of the National Council of the Provinces and the National Assembly. South Africas judicial branch is made up of its Constitutional Court, the Supreme Court of Appeals, High Courts and Magistrate Courts. South Africas Economy South Africa has a growing market economy with a plethora of natural resources. Gold, platinum and precious stones such as diamonds account for nearly half of South Africas exports. Auto assembly, textiles, iron, steel, chemicals and commercial ship repair also play a role in the countrys economy. In addition agriculture and agricultural exports are significant to South Africa. Geography of South Africa South Africa is divided into three major geographic regions. The first is the African Plateau in the countrys interior. It forms a portion of the Kalahari Basin and is semiarid and sparsely populated. It slopes gradually in the north and west but rises to 6,500 feet (2,000 meters) in the east. The second region is the Great Escarpment. Its terrain varies but its highest peaks are in the Drakensberg Mountains along the border with Lesotho. The third region are the narrow, fertile valleys along the coastal plains. The climate of South Africa is mostly semiarid; but, its eastern coast regions are subtropical with mainly sunny days and cool nights. South Africas west coast is arid because the cold ocean current Benguela, removes moisture from the region which has formed the Namib Desert that extends into Namibia. In addition to its varied topography, South Africa is famous for its biodiversity. South Africa currently has eight wildlife reserves, the most famous of which is Kruger National Park along the border with Mozambique. This park is home to lions, leopards, giraffes, elephants and hippopotamus. The Cape Floristic Region along South Africas west coast is also important as it is considered a world biodiversity hotspot which is home to endemic plants, mammals and amphibians. More Facts about South Africa South Africas population estimates must account for excess mortality due to AIDS and its affect on life expectancy, infant mortality and population growth rates.South Africa divides its governmental power among three capitals. Bloemfontein is the capital of the judiciary, Cape Town is the legislative capital, and Pretoria is the administrative capital. Resources and Further Reading Centrail Intelligence Agency. (2010, April 22). CIA - The World Factbook South Africa. Retrieved from: https://www.cia.gov/library/publications/the-world-factbook/geos/sf.htmlInfoplease.com. (n.d.) South Africa: History, Geography, Government, and Culture - Infoplease.com. Retrieved from: infoplease.com/ipa/A0107983.htmlUnited States Department of State. (2010, February). South Africa (02/10). Retrieved from: state.gov/r/pa/ei/bgn/2898.htm

Evolution of Health Care Information Systems Paper Essay

Evolution of Health Care Information Systems Paper - Essay Example An information system may simply be defined as an arrangement of people, technology, processes and data that interact to gather, process, store, transfer and provide output in form of useful information that supports the organization. The HCIS (Health Care Information System) traditionally was developed to primarily manage financial and administrative data with an aim of supporting management functions as well as general operations of the organization that deals in healthcare services (Tan, 2005). Administrative applications of HCIS include admission, transfer and discharge registration, scheduling, accounts receivable and patient billing, utilization management, payroll, staff scheduling, material management, general ledger and accounts payable administration (Tan, 2005). The clinical information system on the other hand contains clinical/ health related information that is related to diagnosing, monitoring and treating patients. Clinical applications generally consist of the ancillary information system and other systems which include nursing documentation, medication administration, tele-health and telemedicine, electronic medical record and provider order entry. Changes witnessed in healthcare systems have become real, more as a result of advancements in information systems, medical technology and healthcare delivery, and management practices (Tan, 2005). Up to the early 1980s, HIS (Healthcare Information Systems) were more oriented towards information â€Å"supply† for purposes of conducting business. Attention however shifted over time to a system that is more â€Å"demand† oriented; information and its importance. This led to the gradual replacement of pencils, calculators, paper and cards, mechanical punches and people for performing vital tasks (Dudeck, Blobel, Lordieck & Bà ¼rkle, 1997). The typical office in the healthcare facility then was characterized by cumbersome and labor intensive work methods. These methods and systems were later

Law of Contract II Essay Example | Topics and Well Written Essays - 2000 words

Law of Contract II - Essay Example Whether CBL can claim for breach of contract against Ricky for non – payment of money for the work completed. Rule of Law A false statement of fact, during the formation of a contract, by one of the parties to the contract, constitutes misrepresentation. As per the provisions of the Misrepresentation Act 1967, the representor is liable for fraudulent misrepresentation, despite his not having made the statement fraudulently.1 The party to the contract that undergoes loss due to this misrepresentation can either revoke the contract or claim damages.2 Application Ricky’s contract with CBL involves the construction of a new conservatory. Lawretta, a director of CBL, assures him that they are the best in constructing conservatories and that he was at liberty to make relevant enquiries. Ricky believes her statement and agrees upon a cost of ?20,000 for constructing the conservatory. After the completion of half the work Ricky discovers that CBL had never constructed conservat ories. In addition, he comes to know that some of CBL’s former customers are claiming damages for defective and poor workmanship. Ricky refuses to pay CBL for the work completed and the latter decides to claim for breach of contract. ... ordships ruled that in such cases, it was sufficient if the plaintiff could establish that the defendant knew or was convinced that his statement was not factual.3 In Redgrave v Hurd, the plaintiff had made a statement regarding his firm’s income, while attempting to induce the defendant to become a partner, in his business. Hurd discovered that the statement was wrong and sought to rescind the contract. The lower court ruled in Redgrave’s favour, but the appellate court set aside this decision and held that Redgrave’s statement constituted innocent misrepresentation. Thereafter, it upheld the revocation of the contract by Hurd.4 A plaintiff is not liable for breach of contract if he had been unaware of the misrepresentation, at the time of the contract. This was the ruling in Horsfall v Thomas.5 Moreover, in Smith v Chadwick, the court ruled that there was no liability if the plaintiff had been aware of the misrepresentation and it was established that this know ledge could not have influenced his judgement.6 Finally, it was held in Peekay Internmark Ltd v Australia and New Zealand Banking Group Ltd that there had to be actual knowledge of the misrepresentation and that constructive knowledge was insufficient.7 It is essential for some relationship to exist between the misrepresentation and the inducement for the claimant to form the contract. Thus, in Attwood v Small, the defendant had relied upon his agents’ report regarding the productivity of the mines and steelworks offered to him by the plaintiff.8 As he had not relied on the plaintiff’s statement, he was not permitted to rescind the contract. Conclusion The fraudulent misrepresentation made by CBL induced Ricky to hire the former to construct a conservatory. CBL had misrepresented to Ricky about its

Week Two Learning Team Reflection Essay Example | Topics and Well Written Essays - 250 words

Week Two Learning Team Reflection - Essay Example Waldo had previously tried to explain to her supervisor several times that she is being subject to sexual harassment and violence. There are certain employee rights which are to be abided by all companies because the government has laid down strict rules and regulations with respect to human respect and to ensure that there is no discrimination with respect to gender and race. These rules are set to ensure that the employees are not abused in any manner. Harassment issues are a common problem and that is why law a law has been implemented. Waldo did not keep quiet about her harassment by the employer. Waldo claimed that her current employer subjected her to gender discrimination, hostile work environment, and retaliation under state and federal law. Waldo took the company to the court to claim her rightful place in the society and to punish the company for its wrongful behavior in order to ensure that it is not repeated again and again with other employees. Several trials were held in this regard and the employer was punished by awarding Waldo a lump-sum amount of $400,000 in compensatory damage and $7,500,000 in punitive damage (MOORE,

The Effects of M&A on SMEs Lending ( methodology and procedure ) Assignment

The Effects of M&A on SMEs Lending ( methodology and procedure ) - Assignment Example ful since the researcher will choose the participants based on experiences, department positions, and academic qualification thus gaining more insight about the issue under investigation. The study targets healthy adults either working as professionals in banks or operating a business. The researcher will use questionnaires to gather information from participants since the study targets literate people. In addition, the researcher will conduct evaluation of filled questionnaires for accuracy and authenticity since they can be affected by various factors like prejudices, and political climate. Sources must pass either an external criticism; the process of determining the trustworthiness, authenticity, or validity, or internal criticism; the process of determining the accuracy or reliability of the information collected. Firsthand information by event witnesses, for example are classically assumed more accurate and reliable. Lastly, it is important to conduct data synthesis and preparing a report. In this case, synthesis is the selecting, structuring, and analyzing the materials gathered into central concepts and topical themes. Thesis themes are then joined to form a meaningful and contiguous whole. Additionally, the stage of data gathering involves spotting, locat ing, and collecting data on the research topic. The information sources are contained in documents such as records, newspapers, relics, photographs, and interviews with people who have experienced or have knowledge of the research subject. Each data source must be evaluated and assessed for accuracy and authenticity because it can negatively affected by aspects such as economic conditions, prejudice, and political climate. In addition, it is important to pass sources in either external criticism; the process of determining the trustworthiness, authenticity, or validity, or internal criticism; the process of determining the accuracy or reliability of the information collected. The researcher will recruit

The next Financial crisis, video and discussion Essay

The next Financial crisis, video and discussion - Essay Example The problem started from largest and most influential economy in the world the United States, owner of the international traded currency the US dollar. In my view governments have in most part just made temporary fixes in managing the global financial crisis. The problem will definitely return with a vengeance, with massive increase in public debt in almost all developed economies, which can definitely initiate the next phase of the global economic crisis. We are in the middle of a full-blown sovereign debt crisis that will create more mayhem on the global financial system than the problem that started 3 years ago. Global economic climate changes too rapidly and the circumstances are complex, providing a real challenge for those who intend to effectively resolve and police these problems (Torbat, 2008). With the help IMF we need to better regulate the worlds financial system and avoid a repeat of the global credit crisis, with uniformed global financial regulations and joint surveillance of international financial markets. Industrialized nations should learn from the East on ways to tighten rules in the US and Europe. As most of these economies have been able to withstand the financial crisis, and in fact have been to grow at high single digits. As China and India werent fully integrated into the global financial system and followed stricter guidelines and regulation, which we can see, have helped them tremendously. The international monetary community can learn that they need to be ready and the ability to prevent a financial crisis. The countries need wise macroeconomic policy and effective financial regulation and supervision. Global financial bodies like the IMF need to put in place a framework to facilitate international supervision and regulation as well as crisis prevention, management, and

You guys have to refer my file Essay Example | Topics and Well Written Essays - 250 words - 1

You guys have to refer my file - Essay Example Additionally, the four encourage the reconciliation of both obedience and conscience (Milgram and Philip 189). As such, they encourage ethical and moral practice. The police officers did not obey the standards procedure in their desire to restore law and order in the streets. Furthermore, the officers brutalized their suspects thus disregarding all the ethical and moral dictates of the practice. I believe the local Oakland resident made the statement out of rage. Apparently, drug was a major cause of disharmony in the society. The rogue officers stamped their authority albeit illegally thereby reducing the prevalence of drug-related crime. The resident thus believed that such officers would help restore law and order in the society and that they were acting for the greater good of the society. The resident later reconsiders the lawless nature of the actions of the police. He understands that the actions disregarded basic human rights. Additionally, such actions would possibly begin affecting innocent residents. The resident, therefore, concludes by expressing his confusion. I imagine the rough riders came into existence because of inefficiencies in the management of the police department. The management of the police department relented in their supervision of the officers thus permitting a few officers to break the

The next Financial crisis, video and discussion Essay

The next Financial crisis, video and discussion - Essay Example The problem started from largest and most influential economy in the world the United States, owner of the international traded currency the US dollar. In my view governments have in most part just made temporary fixes in managing the global financial crisis. The problem will definitely return with a vengeance, with massive increase in public debt in almost all developed economies, which can definitely initiate the next phase of the global economic crisis. We are in the middle of a full-blown sovereign debt crisis that will create more mayhem on the global financial system than the problem that started 3 years ago. Global economic climate changes too rapidly and the circumstances are complex, providing a real challenge for those who intend to effectively resolve and police these problems (Torbat, 2008). With the help IMF we need to better regulate the worlds financial system and avoid a repeat of the global credit crisis, with uniformed global financial regulations and joint surveillance of international financial markets. Industrialized nations should learn from the East on ways to tighten rules in the US and Europe. As most of these economies have been able to withstand the financial crisis, and in fact have been to grow at high single digits. As China and India werent fully integrated into the global financial system and followed stricter guidelines and regulation, which we can see, have helped them tremendously. The international monetary community can learn that they need to be ready and the ability to prevent a financial crisis. The countries need wise macroeconomic policy and effective financial regulation and supervision. Global financial bodies like the IMF need to put in place a framework to facilitate international supervision and regulation as well as crisis prevention, management, and

Community College vs. Universities Essay Example for Free

Community College vs. Universities Essay Have you ever wondered which is better, community colleges or universities? Making the big choice on furthering your education is a big decision, but making the choice between community college and a university is even harder. Well let me give you some ideas. The cost, location, environment, and how long it takes for someone to finish are a couple of things to take into consideration. When looking at colleges you have Community college prices and University prices. Neither have a pretty price tag, but when compared side-by-side there is a big difference. Tuition prices for Mitchell Community College vary between instate and out of state. The price for an in state student is seventy two dollars per credit hour, and for out of state students you are looking at two hundred and seventy two dollars per credit hour. The tuition cost for a university like UNC is alone eight thousand, three hundred and seventy four dollars for an instate student. An out of state student is facing a tuition cost of thirty three thousand, six hundred and seventy four dollars!! So ,you can see that there is a pretty big difference in cost. The cost for education can vary between individuals, and not everyone is in the same financial status. Some people have the honor to be granted scholarships, and some students may have to take out loans, and not every can apply for financial aid , so every individual situation varies when it comes to education cost and their form of payment. Something else to consider is the location of the college. Do you prefer to move away and pay for dorm room cost at a big university? Or does staying at home, and being closer to family sound something like you would do? Moving to a university dorm can be drastically different, you won’t be at home in your own bed. Instead you will find yourself in a tiny room with a small bed and no privacy; because, let’s not forget you will have that beloved roommate. Moving into a dorm can be challenging too because of limited space and it’s pretty costly too. Staying back home will save money on living costs and there won’t be as many long trips to take when it’s time to go home. So,this varies on a person’s form of lifestyle that they are looking for. If they  want the whole â€Å"College experienceâ€Å", then they should go for the dorm facilities. But many people are just trying to get an education and the last thing they have on their mind is paying for a dorm room. Community college and universities environments are very different! A community college is usually located in small towns and a lower number of students who are from the surrounding areas. In community colleges you will find more familiar faces and longtime friends etc. Once you step into a university you can find yourself in a whirlwind of strange faces and different people. That could be very difficult for anybody. It’s like starting all over again, having to meet new people and make new friends just to get by. In universities you will also find the famous Sororities, and we cannot forget the fraternities, and to be part of community like that you must fit in with that life style or all be the same, so I hear. In community colleges you can find a much more settled environment, there are no sororities or frat parties. You can find interesting clubs or study groups. In universities you see big college sport teams, and community colleges you can’t find any. Either, way if it’s a community college based environment or university, anybody can create awesome, long lasting bonds, relationships, and friendships.

Rural Financial Intermediation of Ghana

Rural Financial Intermediation of Ghana CHAPTER ONE INTRODUCTION 1.1 Background of the study The rural sector comprises nearly 80% of Ghanas population of 18.5 million, with rural economic activities providing employment and incomes for an estimated 60% of rural dwellers (World Bank, 2001). At the same time, nearly 30 percent of rural inhabitants live below the poverty line. However, financial services remain significantly limited at present, mainly provided by informal groups and rural banks. After relatively successful macroeconomic and financial sector reforms, the absence of strong rural and micro finance institutions have continued to impede the attainment of rapid rural economic development. Existing rural financial institutions are often community-based, with strong socio-cultural linkages. The rural banks in particular are characterized by broad-based shareholdings by community members and compared to the larger commercial banks, have a higher propensity to serve clients with low asset base, education and/or collateral, clients who otherwise would have little or no access to formal financial services. At the same time, there is an emerging network of specialized micro-financial institutions that are testing out international best practice methodologies and adapting them to Ghanaian microfinance context and situations. Given the dispersion of rural banks, the nature of community ownership, and rural client base, development of strong rural and micro finance institutions would provide a coherent framework for rural economic growth that would lead to lowered poverty rates and improved standards of living for a majority of the countrys population. Since independence the Government of Ghana (GoG) has made several attempts to promote rural development to improve the living standards of its rural people. The 1992 Constitution has made a firm commitment to rural development as part of its national strategy to improve the living conditions in rural areas through decentralization with the establishment of political and administrative regions and districts. As part of its poverty reduction strategy the Government in 2000 sought funding from the World Bank under the Rural Financial Services Project (RFSP) to promote growth and reduce poverty in Ghana by expanding the outreach of financial services in rural areas and strengthening the sustainability of the institutions providing those services. The Rural Financial Services Project Objectives The Rural Financial Services Project (RFSP) seeks to promote growth and reduce poverty in Ghana by broadening and deepening financial intermediation in rural areas through the following measures: (i) strengthening operational linkages between informal and semiformal microfinance institutions and the formal network of rural and community banks in order to expand services to a larger number of rural clients; (ii) building capacity of the rural and community banks, the principal formal financial intermediaries operating in rural areas, in order to enhance their effectiveness and the quality of services they provide; (iii) supporting the establishment of an apex structure for the rural banking system to provide the economies of scale needed for these unit rural banks to address generic constraints related to check clearing, specie supply, liquidity management and training, etc. which have impeded growth of the rural finance sector; and (iv) strengthening the institutional and policy framework for improved oversight of the rural finance sector. 1.2 Problem Statement The search for a system to tackle the financial problems of the rural dweller started as far back as the 1960s under the Nkrumah regime. During that period, the need for a veritable rural financial system in Ghana to tackle the needs of small-scale farmers, fishermen, craftsmen, market women and traders and all other micro-enterprises was felt. The need for such a system was accentuated by the fact that the bigger commercial banks could not accommodate the financial intermediation problem of the rural poor, as they did not show any interest in dealing with these small-scale operators. Governments attempt in the past to encourage commercial banks to spread their rural network and provide credit to the agricultural sector failed to achieve any significant impact. The banks were rather interested in the finance of international trade, urban commerce and industry. There was, therefore, a gap in the provision of institutional finance to the rural agricultural sector. The failure of the commercial banks to lend on an appreciable scale to the rural sector had been attributed to the lack of suitable security on the part of farmers and the high operational costs associated with small savers and borrowers. Another reason may be the centralised structure of the banking set-up, which, despite their many branches countrywide, is controlled by their Head Offices in Accra, making decentralisation ineffective. One disadvantage of this system was that a centralised institution is not able to compete with the local private money lender in local knowledge and flexibility. More important still, the branch network of many banks covered mainly the commercial and semi-urban areas and did not reach down to the rural areas. Therefore, not only were rural dwellers denied access to credit from organized institutions, they could also not avail themselves of the opportunity of safeguarding their money and other valuable property which a bank provides. It is the realization that the existing institutional credit did not favour rural development that led to the search for a credit institution devoid of the challenges /disabilities of the existing banking institutions but possessing the advantages of the non-institutional credit agencies. This institution was the rural bank. 1.3 Research Questions The study sought to answer the following research questions: i. Are there success cases in the provision of rural financial services? ii. What are the challenges faced by the implementers of the Rural Financial Service Project (RFSP)? iii. How many of the rural poor have gained access to the financial services from the Rural and Community Banks? iv. What is the impact of the Rural Financial Service Project on the performance of the Rural and Community banks and what has been the profitability levels and shareholders fund of the rural banks? 1.4 Research Objectives The primary objective of the study was to ascertain the extent to which the Rural Financial Service Project had been able to promote growth and poverty reduction by strengthening the capacity of those institutions providing financial services. Other objectives for this study are as follows: i. To identify the challenges faced by the RCBs under the RFSP. ii. To assess the impact of the project on the growth and performance of the selected RCBs in terms of profitability, shareholders funds, total assets and deposits. iii. To determine the access of rural poor to financial services. 1.5 Significance of the Study The findings of this research may inform stakeholders: Government officials, policy makers, donor agencies, the World Bank and IMF of the importance of improving and strengthening the operational efficiency of the RCBs as an important intermediary in the provision of financial services to the rural areas to aid poverty alleviation. The recommendations, it is hoped, may encourage the formulation of appropriate policies and programmes to further develop these institutions with technical and financial assistance to lead the role of improving the quality of life of the rural dwellers. Results will contribute to a better understanding of the evolving structure of rural financial services and provide an input to the financial policy made by policy makers especially Bank of Ghana. 1.6 Scope of the Study The sampling area of the study covers 127 Rural and Community Banks in Ghana out of which five selected Rural and Community Banks in the Eastern, Ashanti and Greater Accra regions under the Rural Financial Service Project were considered as the sample size. These RCBs include Bosomtwe Rural Bank, Upper Manya Krobo Rural Bank, Ga Rural Bank, Nwabiagya Rural Bank and Dangme Rural Bank. The study looked at the financial performance of the Rural and Community Banks in Ghana between the period of 2002 and 2006 and also the impact of the RFSP on the selected RCBs. Impact was measured by growth in Profitability, Total deposits, Shareholders funds and access of rural poor to financial services. 1.7 Organization of the Study In order to present a systematic and consistent research, chapter one introduces the background of the study, the problem statement, the research questions, the objectives, significance of the study, and the scope of the study. Chapter two which is the literature review which will throw more light on related studies and concepts of rural financial service project, financial intermediations in the rural areas, challenges of rural financial intermediation and traditional approach to rural finance. Chapter three deals with the methodology adopted in the collection data for the research, description of the field instrument, procedure and data analysis. Chapter four is the presentation of results, interpretation and discussion of the results. Chapter five provides a summary of the study, the conclusions, limitations and recommendations of the study. CHAPTER TWO LITERATURE REVIEW 2.1 Introduction Financial intermediation is a pervasive feature of all of the worlds economies. As Franklin Allen (2001) observed in his AFA Presidential Address, there is a widespread view that financial intermediaries can be ignored because they have no real effects. They are a veil. They do not affect asset prices or the allocation of resources. As evidence of this view, Allen pointed out that the millennium issue of the Journal of Finance contained surveys of asset pricing, continuous time finance, and corporate finance, but did not survey financial intermediation. Here we take the view that the savings-investment process, the workings of capital markets, corporate finance decisions, and consumer portfolio choices cannot be understood without studying financial intermediaries. 2.2 Importance of Financial Intermediaries Why are financial intermediaries important? One reason is that the overwhelming proportion of every dollar financed externally comes from banks. In the United States for example, 24.4% of firm investment was financed with bank loans during the 1970 1985 periods. Bank loans are the predominant source of external funding in all the countries. In none of the countries are capital markets a significant source of financing. Equity markets are insignificant. In other words, if finance department staffing reflected how firms actually finance themselves, roughly 25 percent of the faculty would be researchers in financial intermediation and the rest would study internal capital markets. As the main source of external funding, banks play important roles in corporate governance, especially during periods of firm distress and bankruptcy. The idea that banks monitor firms is one of the central explanations for the role of bank loans in corporate finance. Bank loan covenants can act as trip wires signaling to the bank that it can and should intervene into the affairs of the firm. Unlike bonds, bank loans tend not to be dispersed across many investors. This facilitates intervention and renegotiation of capital structures. Bankers are often on company boards of directors. Banks are also important in providing liquidity by, for example, backing commercial paper with loan commitments or standby letters of credit. Banking systems seem fragile. Between 1980 and 1995, thirty-five countries experienced banking crises, periods in which their banking systems essentially stopped functioning and these economies entered recessions. (See Demirg-Kunt, Detragiache, and Gupta (2000), and Caprio and Klingebiel (1996). Because bank loans are the main source of external financing for firms, if the banking system is weakened, there appear to be significant real effects (e.g., see Bernanke (1983), Gibson (1995), Peek and Rosengren (1997, 2000)). Basically, financial intermediation is the root institution in the savings-investment process. Ignoring it would seem to be done at the risk of irrelevance. So, the viewpoint of this paper is that financial intermediaries are not a veil, but rather the contrary. In this paper, we survey the results of recent academic research on financial intermediation (Gorton and Winton, 2000). 2.3 The Existence of Financial Intermediaries The most basic question with regard to financial intermediaries is: why do they exist? This question is related to the theory of the firm because a financial intermediary is a firm, perhaps a special kind of firm, but nevertheless a firm. Organization of economic activity within a firm occurs when that organizational form dominates trade in a market. In the case of the savings-investment process, households with resources to invest could go to capital markets and buy securities issued directly by firms, in which case there is no intermediation. To say the same thing in a different way, non-financial firms need not borrow from banks; they can approach investors directly in capital markets. Nevertheless, most new external finance to firms does not occur this way. Instead it occurs through bank-like intermediation, in which households buy securities issued by intermediaries who in turn invest the money by lending it to borrowers. Again the obligations of firms and the claims ultimately owned by investors are not the same securities; intermediaries transform claims. The existence of such intermediaries implies that direct contact in capital markets between households and firms is dominated. Why is this? is the central question for the theory of intermediation (Gorton and Winton, 2000). Bank-like intermediaries are pervasive, but this may not require much explanation. On the liability side, demand deposits appear to be a unique kind of security, but originally this may have been due to regulation. Today, money market mutual funds may be good substitutes for demand deposits. On the asset side, intermediaries may simply be passive portfolio managers, that is, there may be nothing special about bank loans relative to corporate bonds. This is the view articulated by Fama (1980). Similarly, Black (1975) sees nothing special about bank loans. Therefore, we begin with an overview of the empirical evidence, which suggests that there is indeed something that needs explanation. 2.4 Empirical Evidence on Bank Uniqueness What do banks do that cannot be accomplished in the capital markets through direct contracting between investors and firms? There is empirical evidence that banks are special. Some of this evidence also attempt to discriminate between some of the explanations for the existence of financial intermediaries discussed below. To determine whether bank assets or liabilities are special relative to alternatives, Fama (1985) and James (1987) examine the incidence of the implicit tax due to reserve requirements. Their argument is as follows: Over time, U.S. banks have been required to hold reserves against various kinds of liabilities. In particular, if banks must hold reserves against the issuance of certificates of deposit (CDs), then for each dollar of CDs issued, the bank can invest less than a dollar. The reserve requirement acts like a tax. Therefore in the absence of any special service provided by bank assets or bank liabilities, bank CDs should be eliminated by non-bank alternatives. This is because either bank borrowers or bank depositors must bear the tax. Since CDs have not been eliminated, some party involved with the bank is willing to bear the tax. Who is this party? Fama finds no significant difference between the yields on CDs and the yields on commercial paper and bankers acceptances. CD holders do not bear the reserve requirement tax and he therefore concludes that bank loans are special. James revisits the issue and looks at yield changes around changes in reserve requirements and reaches the same conclusion as Fama. Another kind of evidence comes from event studies of the announcement of loan agreements between firms and banks. Studying a sample of 207 announcements of new agreements and renewals of existing agreements, James (1987) finds a significantly positive announcement effect. These contrasts with non-positive responses to the announcements of other types of securities being issued in capital markets (see James 1987) for the references to the other studies). Mikkelson and Partch (1986) also look at the abnormal returns around the announcements of different type of security offerings and also find a positive respons e to bank loans. Tables 12 provide a summary of the basic set of results. There are two main conclusions to be drawn. First, bank loans are the only instance where there is a significant positive abnormal return upon announcement. Second, equity and equity-related instruments have significantly negative abnormal returns. James (1987) concludes, banks provide some special service not available from other lenders (p. 234). 2.5 Mechanisms to Improve Financial Intermediation Recent developments in growth theory have stimulated renewed interest in the interactions of financial intermediation and growth. While most of the existing literature analyses the risk- sharing function of financial intermediaries, Raju Jan Singh, 1997 focused on the asset-valuation activity of banks. Following the early contributions of Goldsmith (1969), McKinnon (1973) and Shaw (1973), a general equilibrium endogenous growth model is presented, in which financial intermediaries increase the amount of accumulated capital, improve the mobilization of savings and enhance the efficiency of resource allocation. As in Greenwood and Jovanovic (1990) and King and Levine (1993b), banks are shown to be able to improve their lending efficiency by evaluating projects. Unlike the models presented by these authors, the banks evaluation capacity is not assumed to be exogenous. The ability of banks to gather the information needed to undertake this evaluation is linked to proximity, and the notion of geography may thereby be introduced. A link between proximity and faster growth rates can thus be shown, consistent with the observations of historians such as Cameron (1967). Furthermore, Singh, 1997 showed that a bank can improve the efficiency of its lending by opening branches. A poor branch network would thus affect negatively the economic growth rate, as Cameron (1967) suggests in the case of France in the 19th century. By contrast, relaxing regulations limiting the setting up of branches would promote faster growth, as Jayaratne and Strahan (1996) observe in the case of the United States. The size of the financial sector is therefore not the only important variable; its structure and the distribution of its deposits matter likewise. The model presented by Raju Jan Singh, 1997 could be extended in various ways. The contract offered by the bank to its potential borrowers could be enriched by the inclusion of other variables besides the interest rate. For instance, collateral requirements might be considered. Cash-flow or corporate net wealth could also be introduced as additional sources of information for banks. In this context, the proportion of entrepreneurs being evaluated might appear to be dependent on the size of the latter only, and not only on the proximity of a bank branch. 2.6 Effect of Financial Intermediaries The finance-growth nexus can be theoretically postulated only within the endogenous growth framework. Financial intermediation, by reducing information and transaction costs, can affect economic growth through two channels; productivity and capital formation. With regard to the first channel, it is generally argued that financial intermediaries by facilitating risk management, identifying promising projects, monitoring management, and facilitating the exchange of goods and services, can promote efficient capital allocation leading to a total factor productivity improvement (Levine, 1997). For example, Greenwood and Jovanovic (1990) shows that financial intermediation provides a vehicle for diversifying and sharing risks, inducing capital allocation shift toward risky but high expected return projects. This shift then spurs productivity improvement and economic growth. Diamond and Dybvig (1983) argues that households facing liquidity risks prefer liquid but low-yield projects to illiquid but high-yield ones, while financial intermediaries, through pooling the idiosyncratic liquidity risks, would like to invest a generous portion of their funds into illiquid but more profitable projects. Bencivenga and Smith (1991) argue that financial inte rmediaries by eliminating liquidity risks, channel households financial savings into illiquid but high-return projects and avoid the premature liquidation of profitable investments which favours efficient use of capital and promotes economic growth. The impact of financial intermediation on growth through the second channel-capital formation-is ambiguous. Tsuru (2000) argues that financial intermediation could affect the savings rate, and then capital formation and growth, through its impact on four different factors: idiosyncratic risks, rate-of-return risks, interest rates and liquidity constraints. By reducing idiosyncratic risks and relaxing liquidity constraints, financial intermediation might lower the savings rate and negatively affect growth. By reducing the rate-of-return risks through portfolio diversification, financial intermediation might negatively or positively influence the savings rate, depending on the risk aversion coefficient (Levhari and Srinivasan, 1969). Finally, the development of financial intermediation might raise the rate of return for households savings, which also has an ambiguous effect on the savings rate due to well-known income and substitution effects. In addition, financial intermediaries effi ciency amelioration could cut the financial resources absorbed by themselves, and raise the portion of households savings converted into productive investment which favors capital formation and growth. In conclusion, the theoretical literature shows that the development of financial intermediation affects economic growth mainly through its impact on the efficiency of capital use and the improvement of total factor productivity, while its growth effect through the savings rate and capital formation is theoretically ambiguous. 2.7 Introduction to Rural Financial Services Rural financial services refer to all financial services extended to agricultural and non-agricultural activities in rural areas; these services include money deposit/savings, loans, money transfer, safe deposit and insurance. Demanders/beneficiaries of rural financial services are mainly households, producers, input stockists/suppliers, traders, agro-processors and service providers. Rural financial services help the poor and low income households increase their incomes and build the assets that allow them to mitigate risk, smoothen consumption, plan for future, increase food consumption, invest in education and other lifecycle needs. These needs can be broadly categorized into working capital, fixed asset financing, income smoothing and life cycle events. Access to credit and financial services have the potential to make a difference between grinding poverty and economically secure life. Inspite of the importance of a savings account, 77 percent of Kenyan households have no access to a bank account (Kodhek, 2003). In the late 1990s, most mainstream commercial banks closed down some rural branches in order to cut costs and improve profits. The non-traditional financial institutions have emerged to fill the gap created by the mainstream banks which locked out low income and irregular earners. 2.8 Financial Intermediation in Rural Areas Financial intermediation is crucial for the development of rural villages. If these intermediations are used properly, they can help the rural residents increase their income. Likewise, banks and financial intermediaries may be able to recover expenses and make a profit by attracting deposits and granting rural loans. Several reasons are given in favour of financial intermediation. It is argued that rural financial markets (RFMs) reduce the cost of exchanging real resources. Financial intermediations also enhance a more efficient resource allocation. Firms and individuals may have different investment and consumption alternatives. Thus, some of them want to save at the time others plan to invest. Banks satisfy both desires. In addition, financial intermediation causes gains in risk management. Rural producers are typically subject to large variations in income and expenditure. Rural production heavily depends on the weather and price fluctuations. For example, expenditures may be hea vy at planting periods while income is realized with harvest. Therefore loans and savings are important and inexpensive ways to manage at least part of households risks. Moreover, financial intermediation may allow a farmer to undertake larger investments. For instance, a loan may permit a rural producer to buy a tractor before being able to save enough money to buy one with cash. Likewise financial intermediaries can benefit large number of households by accepting their short term deposits and providing a fewer borrowers with longer-term loans. In fact, savers, borrowers and intermediaries gain from this transformation of term structures that take place through intermediation. In addition financial intermediaries that deal with borrowers as savers reduce the information asymmetry characteristic of RFMs. By observing the savings patterns of customers, they obtain information about the income and wealth of clients. By that banks are better able to assess the quality of borrowers and reduce default risk. The drawback is that there is a general tendency for governments in less developed countries (LDCs) to interfere in RFMs. Thus few observers of formal RFMs in LDCs are satisfied with their recent performance. Markets are highly fragmented; they provide little services to rural residents; political interest interferes with RFMs operations; and official lenders are frequently on the edge of bankruptcy. RFMs in LDCs do not work like the classic competitive markets. On the contrary, some imperfections are characteristic of rural banks. These imperfections lead to a variety of problems. For example, the available information is imperfect or asymmetric. These are classic problems of RFMs. Borrowers differ in the likelihood of default. However, it is costly to determine the risk of default of each borrower. This problem is conventionally known as the screening problem or sometimes it is called the adverse selection problem (see Srinivasan, 1994, p. 15). Moreover, it is also costly to ensure that borrowers take actions that facilitate repayment. This situation is known in the related literature as the incentive problem or moral hazard problem. This problem turns out to be particularly severe when rural banks lend money at concessionary interest rates. That is the way most governments run credit programmes. If a farmer receives cheap money he will not display enough effort to ensure repayment. For instance, in the presence of high interest rates, borrowers may select investment projects that have higher potential pay-offs but a greater risk. These sort of economic activities (investments) require more effort from the borrower to be successful. Finally, it is also costly to enforce the credit contracts. This factor gives rise to the enforcement problem of rural financial markets. There is very little or no penalty in default cases in rural areas of LDCs. Therefore, seldom are the borrowers expected to be sanctioned for loan delinquency. Often it is found that some rural borrowers may be able but unwilling to repay. In addition, in many LDCs property rights are poorly defined so that actions against collateralized assets are ineffective. Governments of many LDCs often, for political reasons, engage in credit relaxation programmes, which diminish borrowers incentive to make their projects successful. Therefore, it is not surprising that government-run credit suffers from a tremendous default problem. The final result is that RFMs have not developed as real and effective capital markets. In the absence of capital markets, individuals turn to moneylenders. The common belief is that moneylenders charge monopoly interest rates, which capture borrowers returns from credit. To overcome those problems innovative credit policy interventions are required. Some few new financial institutions are now being successful to combat market imperfections. Among such institutions are the Grameen Bank of Bangladesh and some of its replications. For instance, group lending allows the financial institutions to transfer risk and transactions costs to credit recipients. It also permits some banking firms to monitor borrowers with other borrowers. 2.9 Current evidence: what we know 2.9.1 Challenges to Rural Financial Intermediation Hoff and Stiglitz (1990) and Besley (1994) have identified three major constraints to financial market development: information asymmetries between market participants; lack of suitable collateral; and high transaction costs. Risk related to agriculture, and to government and donor policies towards agriculture, should be added as a fourth major constraint to rural finance counting for the poor. Demirguc-Kunt and Levine (2004) noted that efficient contract enforcement, related to a supportive legal framework and robust internal operating systems in formal financial intermediaries (FFIs) is very important in the development of the financial sector and the economy as a whole. Constraints to the development of rural financial markets are discussed in more detail below. 2.9.1.1 Information Asymmetry This occurs when borrowers have more information about the out-turn of their investment and greater capacity to repay loans than lenders (Stiglitz and Weiss, 1981). FFIs usually attempt to reduce this problem by screening out high-risk borrowers from their track record (including credit performance, transactions on deposit accounts, cash flow statements and other accounts). However, in the case of most rural customers, this is not possible, because many keep no record of their transactions and/or do not use payment facilities of banks. In addition, access to borrower information is impeded by a lack of efficient transport, communications infrastructure and well-functioning asset registries and databases. 2.9.1.2 Risk High, and often covariant, risks in the rural economy are related to the dominance of agriculture, which accounts for a high percentage of Gross Domestic Product (GDP) (one third in the case of Africa) and employment (two-thirds in Africa) (UNDP Human Development Report, 2000). The long gestation period for many agricultural investments and the seasonality of output usually lead to uneven cash flow and variable demand for savings and credit. Agricultural production is largely dependent on the weather and the use of productivity-enhancing inputs is very low (both leading to yield or production risk), especially in sub-Saharan Africa where the average consumption of fertilizer is only 1015 kg per hectare, compared to about four times that on the Indian sub-continent (Pinstrup- Andersen et al., 1999). African yields are therefore very low and have risen only slightly since the 1980s (Badiane et al., 1997). Lack of credit is a major factor limiting the ability of smallholders to procure a