Recruiting, Selection, and Training Essay

The company that I researched is WellPoint (aka Anthem Blue Cross & Blue Shield). I would love to have a position as a Human Resource Director within the company. As a Human Resources professional at WellPoint, the goal is to lead their workforce and workplace talent strategies into achieving the purpose statement to convert health care with trusted and caring solutions. WellPoint also develop programs that attract individuals with vision and talent to be the future of their industry. Human Resources professionals at WellPoint concentrate on key areas such as talent management, engagement, and Integration to maximize customer focus and efficiency. Analyze the effectiveness of the company’s recruiting efforts and make recommendations for improvement. The HR professionals have a hard time getting qualified applicants to apply for certain positions. So the first challenge is getting enough people to apply to a particular job. In doing so they are able to prepare not to consider t hose who they deem unfit for the position. It takes a lot of effort to select the applicants that truly qualify for the job. All organizations have to begin with advertising for the position. Other resources used for employment are employee referral, employment agencies, school recruiters, walk-ins, and the internet. To work in human resources, a person must go through an industrial/psychology analysis. WellPoint human resource departments have their own job analysis and all human resource employees must help mangers anticipate and meet changing needs related to gaining deployment, and the utilization of employees. The human resource professionals must estimate the amount and type of employees the organization needs, to keep the business running successfully. Therefore they must hire someone who is qualified to conduct all the important roles as a human resource manager. Human resource departments use multiple aptitude tests to screen potential employees. These tests also determine pay  rates based on these tests. This is due to the quality of demand for a human resource manager. The selection process takes a lot of practice and involves assessing and choosing the right candidates. All selection processes must be legal, technically sound, and must accurately match the people and skills needed f or the position. Analyze the selection process of the company you researched and make recommendations for improvement. The majority of I/O psychologists believe that personality tests are important tools for choosing the right employees. WellPoint and several other big corporations use these tests to measure dimensions of personality and related characteristics. These testing methods are used to foresee insubordinate behaviors, and remove individuals that may cause trouble or hindrance to the organization. WellPoint Corporation has been dedicating numerous amounts of energy into areas such as communication, recognition, and employee retention. They understand that branding the employees doesn’t mean anything if the experience of the individuals does not match. Instead they want to establish higher profits, increased sales, lower turnover, and outstanding customer service to their members. Part of WellPoint’s pre-employment testing includes personality testing and mathematical skills. These tests are based on the individual. Some of these particular measures may be referred to as tempera ments, dispositions, or traits. Also measured in that category are employee reliability, thoroughness, change, trustworthiness, and friendliness. Various personality measures are focused on characterizing people within the standard adult range of functionality while others focus on the identification of psychopathology (Schmidt, Shaffer 2010-2011). The reasons individuals are given a basic math assessment are to measure the accountability for their employees to figure out co-pays and co-insurance amounts are calculated correctly to the claim. WellPoint has spent countless time and money in mastering the art of employee selection, training, and retention. WellPoint has a website for interested candidates to apply for careers within their organization, both online and the corporate offices. During the selection process, candidates are asked to take a variety of assessments that analyze areas ranging from characteristics, skill sets, and basic reading and writing tests. Once a candidate has been selected and has accepted a job offer, there are several types of training encountered within the company. Determine how training and talent management contribute to an  effective labor force of the company you researched. Training is a planned learning experience and it effectively prepares workers for their current and future jobs. Training for human resource managers focuses on the present job industry while development training prepares them for the future growth. Training enhances knowledge and job skills. Methods used to measure the success of the training are performance appraisals. This measures the adequacy of the human resource managers. After their performances are measured their results are discussed with them, and any changes that may need to be made in the training process can be easily detected. These pre-employment tests are used largely in Human Resource and customer service environments for middle paying entry level jobs. Testing is designed to predict proneness for theft and other forms of counterproductive work behavior in job applicants. The organization now proposes quarterly training for employees, and is on the path to training over thousands of new people due to health care reform (wellpoint.com) The whole program is centered on listening to customers, and it recognizes employees who go the extra mile in the name of customer service. Often the new hire will experience on-the-job training, during which he or she will be shown the necessary steps in their assigned tasks. For instance, if a person is assigned to the team and asked to process claims, he or she will be shown how to properly process the claim by the trainer. Other tasks that the new hire will be expected to perform, such as enrolling dependents or ordering ID cards. This training is done in a class room setting environment. Safety courses and other employee training courses are offered periodically. Some of these courses are offered online, while others are done in training sessions within the building. WellPoint corporate employees evaluate the efficiency of nearly every aspect of the training and implementation of new employees. Additional measures are also put in place when a policy or product has changed or a new one has been introduced. The department of Quality Assurance oversees this for their assigned regions. WellPoint takes great care in ensuring that their policies are proficient and products are the best quality. That is why there are several departments in place to oversee these important aspects of the corporations. They include Quality Assurance, Product Development, Legal, Human Resources and Information Services. Another way that WellPoint seeks to improve their employee job satisfaction is career training. A large  majority of WellPoint corporate staff started with the company and took advantage of the leadership training to climb the corporate ladder within the organization. WellPoint takes pride in the training program that the company offers, and this training is held worldwide. They are among many companies who has been certified to grant college credit hours to employees in the training programs. Human Resource managers must be treated ethically like their employees; however there are some cases where they are treated unethically. Human resource managers may face problems involving their employees, promotions, pay, and favoritism. Human resource managers must be very observant of all employees to ensure everyone is treated fairly. It is important that those who qualify for human resource management are the ones hired, not those who look, act, or dress in a certain manner. According to the EEOC, (Equal Employment Opportunity Commission), â€Å"Employers are not prohibited from using personality or integrity tests in the workplace. However, the statute is implicated when: (1) an employer uses tests to intentionally discriminate against minorities or (2) the tests have an adverse impact on minorities and are not job-related for the position in question and c onsistent with business necessity. No cases have found that an employer’s use of personality testing in the workplace resulted in the unequal treatment of protected groups. However, there could be such a cause of action if the tests were used intentionally to exclude members of protected groups. This would usually involve evidence of comparative proof that members of a protected group were treated differently than majority group members. For example, it would obviously be illegal for an employer to test minority applicants, but not majority applicants†. As long as these tests are given in a professional manner, it is not against the law to do such to find out if the individual is the best fit for the job. Employee selection and training will continue to be two of the most important aspects for growing and supporting the workforce for companies in the future. Psychological assessments, such as the ones described in this paper, is one of the many ways that companies can attempt to get the highest quality people and not select people who do not want to be there. While there is speculation of the dependability of using these assessment tools for employee selection and training, the evidence shows that it can be helpful in focusing the time and money into particular areas or people to improve  productivity within the company. WellPoint also uses verbal reasoning, numeracy, spatial awareness battery test. They consist of a number of questions with multiple choice answers, only one of which is right. As a test progresses, the questions may become more difficult, and there are frequently more questions than can comfortably be completed in the time. These tests are designed so that very few people finish the test in the time allowed. The participant’s score is then compared with how other people have done on the test in the past. This enables the selectors to assess reasoning skills in relation to others, and to make judgments about ability to cope with tasks involved in the job. On the flip side, personality inventories are used in order to determine one’s typical reactions and attitudes to a variety of situations. They could be trying to identify how well an individual can get on with others or their normal reaction to stressful situations, or simply their feelings about the kind of people they like to work with (Spector, 2008). Perhaps the biggest challenge related to the use of assessment tools is determining when to use the information obtained to remove an applicant from consideration. References The WellPoint Employee (2008). Retrieved November 13, 2013 from www.wellpoint.com Schmidt, R & Shaffer, D. (2010-2011). Personality Testing in Employment. Retrieved November 12, 2013 from http://library.findlaw.com/1999/Dec/22/130153.html. Spector, P. E. (2008). Industrial and Organizational Psychology (5th ed.). Hoboken, NJ: Wiley. U.S Equal Employment Opportunity Commission. (2011) Title VII of the Civil Right Act of 1964: Employment. Retrieved November 13, 2013 from www.eeoc.gov/laws/statutes/titlevii.cfm Holley, W. H., Jr., Jennings, K. M., Mathis, R. L., & Jackson, J. H. (2012). Employment Labor & Relations. (2nd ed.). Mason, OH: South-Western Cengage Learning.

Historical Context of the Remakes of The Phantom of the Opera Essay

The Phantom of the Opera has undergone subsequent remakes. This Hollywood film has undergone numerous remakes at different historical moments throughout the world. In Hollywood and the United Kingdom, it has spawned more than ten film and TV versions that differ significantly in selecting the settings for the horror-romance [Paris, New York and London] in accounting for the phantom’s disfiguration, in portraying the opera understudy, as well as Christine’s attitude toward the phantom. However, they all follow the male phantom-teacher and female opera-student structure so that heterosexual desire [manifested in two men’s competition for a woman] remains the prime move of the plot. My focus in this essay is Andrew Lloyd Webber’s version of the aforementioned text. My emphasis in this text will be how the phantom [including his image and voice] is represented within the film technology available at that time [in contradistinction to the manner in which the phantom’s image and voice is represented in different versions of the aforementioned text]. My working hypothesis is that since the phantom, by definition, exceeds visual representation in the silent and the sound versions, his voice, as a singer and a music teacher, emerges a primary site for representation and signification. To explore the representation and the significance of the phantom’s voice, I will focus on (1) how the phantom-teacher relates to his student through voice as well as visage, (2) how the teacher-student relationship differ from film to film [from Schumacher’s film in contradistinction to the other version of the film], (3) and how to read these relationships in allegorical terms, or in relation to their respective material-historical conditions. The last question leads me to map the teacher-student relationship onto the tension between an â€Å"original† film and its remake(s). In the end this paper will demonstrates the manner in which each remake strategizes its position vis-a-vis a historical moment and a prior film text hence it follows from this that each remake [specifically Schumacher’s remake] should not be subsumed into an echoing tradition in the corridor of the history. I start with the representation of phantom’s voice and its interplay with the shadow. The aural-visual dimension is crucial for our understanding of the issue of subaltern film remaking, which is ultimately an issue of power circulation and distribution. In the film diegeses, the phantom holds power over the student and other people for two reasons: (1) he eludes audio-visual representation and (2) he assumes the empowered teacher position. The 1925 version of The Phantom of the Opera centered upon the triangular tension between Erik, The Phantom (Lon Chaney); Christine (Mary Philbin), an understudy in the Paris Opera House whom the phantom has trained and elevated to the diva position; and Raoul (Norman Kerry), Christine’s fiance. As indicated above, the phantom, by definition, exceeds direct visual coding. The problematic of representation is further compounded by the fact that the film, being silent [that being the 1925 version], cannot represent the phantom’s voice except through the theatre orchestra’s performance. This means that the voice and other diegetic sounds the audience hear do not [seem to] emit from the screen. This representational dilemma is alleviated through the use of shadow [an image that signifies the fusion of absence and presence, thus most appropriate for the phantom figure]. More specifically, this silent film mobilizes venues of representation before Christine sees the phantom. The first is the shadow, proffered exclusively to the audience who, according to Michel Chion, is â€Å"deaf† and cannot hear the phantom’s voice (Chion 7). The other, the phantom’s â€Å"angelic voice,† is heard only by Christine and other characters. The differentiated knowledge distribution leads to two modes of spectatorship, one being exclusively visual, and the other exclusively aural. In both cases, the phantom is omnipotent when remaining a mere shadow or a disembodied voice (Chion 19). When lodged in a physical body, a process the power is lost. This takes place in The Phantom of the Opera when Christine’s fascination with the acousmatic phantom turns into dread and disgust once the voice is embodied in a visual image [i. e. , the skull head that she has unmasked]. Thus, the phantom’s deacousmatization depletes his magic power over Christine. Not only does his horrendous visage drive Christine to cover her face [which may implicitly mirror a female viewer’s typical response to a horror film]. It also forces the phantom himself to cover his face. The implication is that to maintain his power, he has to remain invisible. In the same manner, for a horror film to remain horrific, it must not be seen in unobstructed view. As Dennis Giles observes, the more [the viewer] stares, the more the terror will dissipate†¦ to the extent that the image of full horror will be revealed (unveiled) as more constructed, more artificial, more a fantasy, more a fiction than the fiction which prepares and exhibits it. To look the horror in the face for very long robs it of its power. (48) By covering his face, the phantom symbolizes the horror film’s attempt to block the viewer’s vision. In other words, the power of the phantom, and by extension, of the horror film, consists in deprivation of visual representation. The problematic of representing a phantom in a silent film thus finds resolution in a paradox, namely, the possibility and effectiveness of representation consists precisely in a lack of direct visual representation. Acousmetre is also crucial for maintaining the teacher student relationship. Once deacousmatized, this relationship comes to an end, which in turn de-legitimizes the phantom’s proposal to Christine. After a long sequence of suspense, sound and fury, during which Christine is salvaged from the Opera House’s underground catacomb, while the phantom chased to a dead end, the film [initial version of the film] closes with a double shot of Christine happily married with her aristocratic fiance. Instead of a beauty and the beast story, in which the beast is transformed into a handsome nobleman by the beauty’s kiss, the monster in this film remains a monster and the opera actress gets punished for her scopic and epistemological drive [a â€Å"monstrous† transgression she must redeem by betraying the monster] returning to humanity [defined as white heterosexual normality] and succumbing to a domesticating marriage. The containment of the female deviancy is built into the film producer’s plan to reinforce what they perceive as the audience’s wish: â€Å"a movie about the love life of Christine Daae† (MacQueen 40). The film thus ends with a triumph of a bourgeois fantasy premised on the domestication of women, and the destruction of the monster. Joel Schumacher’s remake of the original Phantom of the Opera, did not come as a surprise, given the frequent practice of borrowing and adapting at the time. Schumacher’s version retains the powerful phantom figure whose self-de-acousmatization again successfully captivates the student, Christine. Nevertheless, it also displays far more intense interactions between the phantom-teacher and the singer-student. Briefly speaking, their relationship goes through four successive steps: ventriloquism, reverse ventriloquism or excessive mimesis, performative reiteration, and finally, the Benjaminian â€Å"afterlife† [which delineate Christine’s gradual usurpation of the phantom’s power while also contributing to the dialectical image provided by the phantom-teacher and singer-student relationship]. The phantom begins with ventriloquizing Christine’s in the latter’s reenactment of the former’s masterpiece, now titled â€Å"Romeo and Juliet,† replacing â€Å"Hot Blood† in Song at Midnight. During the performance, Christine falters at a tenor note, but is undetected by the theatre audience, thanks to the phantom’s backstage â€Å"dubbing,† visually represented through cutaways. The camera first holds on Christine’s bending over the dead â€Å"Juliet† then closes up on his slightly opened mouth and bewilderment, and subsequently following Christine’s puzzled look, cuts to the cloaked phantom in profile, hidden behind a window curtain in the backstage, emotionally singing out the tenor notes. Cutting from the front stage to the back stage area also echoes. In the aforementioned scene, it is important to note that the moment of ventriloquism gradually gives way to Christine’s agency. Indeed, Christine’s centrality in the film is evidenced in the predominance of the perspective shots that mediate the off-screen audience’s knowledge and sensorial experiences. This viewing structure contrasts sharply with The Phantom of the Opera’s 1925 version. Whereas Christine deacousmatizes the phantom, the audience actually sees the disfigured face before she does. Similarly, Christine’s knowledge [regarding the phantom] is one step behind that of the audience who hear the phantom’s midnight singing and see an enlarged shadow cast on the wall at the opening of the film after the initial portrayal of the opera house’s condition after the fire. The contrast between the two aforementioned versions of The Phantom of the Opera suggests two different ways of constructing history. One is to hide away the past [embodied by the phantom] that has transformed beyond recognition so as to reproduce its old, familiar image in a present medium, or the student. The other is to acknowledge what the past has become, in order to re-suture it into the present without reducing the present into a mere mirror image of the past. Thus, Christine’s agency and the Phantom’s revival become interdependent. The teacher-student hierarchy, as argued previously, is analogous with the hierarchy between the master and the slave. Furthermore, it can also be mapped onto the tension-ridden relationship between a film and its remake(s). These interconnected, parallel relationships allow us to situate the cultural production of a film in a dynamic socio-political field (Gilloch 17). Following Gerard Genette’s definition of â€Å"hypertextuality,† which designates that a hypertext both overlays and evokes an anterior text, or hypotext (Genette 5), I argue that a remake occupies the student position, and that its very existence testifies to and evokes its â€Å"teacher† or â€Å"predecessor. As a form of cinematic doubling, how the â€Å"student† film situates itself vis-a-vis the â€Å"teacher† and its own historical moment determines possibilities of remaking (Smith 56). The major divergences between the two versions of The Phantom of the Opera mentioned above suggest two diametrically opposite agendas. Whereas the former prioritizes domesticating and suturing women into white-oriented heterosexuality, the latter historicizes and politicizes the hetero-erotic relationship between the teacher and student. There are several ways in which one may understand the aforementioned divergence. It is important to note that the text adapted by Schumacher for the construction of his version of the aforementioned film is in itself a divergence from the original. In comparison to Lon Channey’s version of the aforementioned film [which is an adaptation itself], Schumacher’s version discarded most of the horror version aspects which have been associated with the film [as well as the original text by Leroux]. Examples of these are evident if one considers Schumacher’s choice for the depiction of the phantom himself [as a disfigured individual as opposed to a skull hiding behind a mask]. In a way there are several ways in which such a depiction [the change of depiction] may be understood. Initially, one may state that such a shift stems as a result of the shift from the operatic version of the film as opposed to the â€Å"Beauty and the Beast† theme associated with the film. Second, in line with the initial claim of this paper, one may understand the shift [in terms of the phantom’s depiction] as a means of mirroring the historical conditions of the film’s production. The process of mirroring the initial work as a means of showing the teacher-student relationship [in relation to the silent film version and Schumacher’s version] may be understood as a means of employing the manner in which the student has transcended the master to the extent that such a transcendence enabled the initial freedom from the heterosexual archetypal relationships which enables the submission of the female to the norm [that being the norm of female submission towards the male]. It may indeed be argued that Schumacher’s version also enabled such a submission since Christine chose Raoul over the phantom. It is important to note, however, that such a choice may be understood differently in relation to the original silent film adaptation of the aforementioned text. Note for example the depiction [as well as the characterization] of the phantom in the initial version of the film. As was noted at the onset of the paper, the depiction of the phantom in the initial version [silent film version] presented a horrible figure [i. e. a skull for a face]. Such a presentation may be understood, in such a way, that the phantom is presented as the depiction of the deviance resulting from the inability to adhere to the norm. Deviance from the norm, in this sense, may be seen [and in fact understood] as a horrible act itself. Schumacher’s version [with its depiction of the phantom as figure with a face [a handsome one in fact despite its minor deformities] may be seen as mirroring the manner in which deviance from the norm [that of the adherence to the heterosexual and in a sense highly patriarchal relationship] is more acceptable within the current context of the film’s production (McQueen . Schumacher’s version begins with a reel from the 1919 occurrence at the Opera Populaire wherein the old Raoul is depicted as buying knickknacks that serve as the reminder of the occurrences that led to the aforementioned opera’s demise. What follow this scene is a reconstruction of the Opera Populaire resulting from the flashback of memories to those who where in it during 1819 thereby providing the spectator with the truth behind the masked lives of those who lived within the opera at that time. What is interesting to note in Schumacher’s version [in relation to the reconfiguration or rather redepiction of the phantom] is the manner in which one is now given a new manner of understanding the means in which Christine gains her agency. In fact, agency in Schumacher’s version of the film is depicted as a manner of choice and not as mere adherence to a prescribed norm [in comparison to the original adaption of Webber’s text]. Dramatically, the story hinges on a series of conflicts which continually redefine Christine’s position in relation to her surroundings [as well as to the individuals around her]. Webber’s version [as adapted by Schumacher] depicted this process through a series of musical themes, motifs, and textures which portray the development of characters, attitudes, and emotions. Note that the materials in each of the musical themes and motifs are rarely modified except through instances of fragmentation. Although fragmentation occurs, it is interesting to note that when considered together, these musical themes literally play out the drama involved within the play (Snelson 110). In summary, in this paper I argued that the â€Å"teacher† text does not simply crumble when the â€Å"student† text arises in resistance, but rather experiences a revival. This is because the remake cannot fulfil itself without simultaneously evoking [not â€Å"imitating†] the â€Å"afterlife† crystallized in its textual â€Å"predecessor† (Mignolo 112). A film remake re-presents its â€Å"hypotext† not by turning itself into a submissive double, which simply reifies the â€Å"hypotext,† but rather by revalorizing the unique historical position of the â€Å"hypotext,† paradoxically achieved by the remake’s stress on its own distinction. In this sense, the various adaptations of Webber’s The Phantom of the Opera may be understood in such a way that both versions [that stand in a teacher-student relationship] present a challenge of the archetypal heterosexual relationships which stand as the pervading theme of the various versions of Webber’s The Phantom of the Opera.

Country Analysis Project (CAP) Research Paper Example | Topics and Well Written Essays - 1250 words

Country Analysis Project (CAP) - Research Paper Example This led to massive climate changes over time because of overgrazing which desiccated the land and led to the encroachment of the Sahara desert. This led to massive migration and settlement along the fertile Nile valleys and formed a more centralized society. In the Nile valley, a Neolithic culture rooted by 6000BC. In this era, there was development of several dynastic cultures in the upper and the lower Nile. The lower Egyptian communities coexisted with the southern communities for over 2000 years, but remained distinct culturally and at the same time, retained close trade contact. According to the CIA World Fact Book, Egypt is one of the world’s earliest civilizations. This is because of the richness in the regular Nile river floods, plus the partial segregation that the desert provides to the east and west. In 341 BC, the last native dynasty ruled over Egypt but fell under the Persians, who were later toppled by the Greeks and Romans. From the seventh century BC, the Arab s ruled Egypt for six centuries. A local military social group, the Mamluks, took control and continued to rule after the invasion of Egypt in 1517 by the Ottoman Turks. The completion of the Suez Canal made Egypt an important global transportation hub, though it was also in massive debt. To protect its investments, Britain seized control of Egypt in1882, though nominal allegiance to the Ottoman Empire went on until 1914. By 1922, Egypt was partially independent from the United Kingdom. It got full sovereignty in 1952 after overthrowing a British backed monarchy (Stannard, p. 112). Egypt’s economic assessment The economy of this country relies mostly on agriculture, petroleum exports, media and tourism. Since 1979, the United States foreign aid has granted Egypt an average of 2.2 billion dollars per year, making it the third largest recipient of foreign funding. The government has invested heavily in physical structures and communications. However, the largest revenue source is tourist and partly traffic. Economic growth Before the 2011 uprising in Egypt, the country was enjoying a rising GDP acceleration, which reached a height of 7.1 % in 2006/2007. This was from rise in both public and private investment, with a continued, substantive economic investment. However, labor productivity continues to show sluggish growth, which presents a potential harm to the gross domestic growth. Poverty Though there are low incidences of extreme poverty, a whopping 43.9% of the total population leaves under ?2 per day. With this, it has an enormous challenge of transforming growth to poverty eradication. Reforms will aim at development of human capital, creation of jobs and productivity. Economic structure In Egypt, the largest economic sector of both labor force and output is in services. Industrial activities propel growth in revenue. At the second position is agriculture as a source of employment, though has the least output. For future growth, creation of jobs is imperative, especially in the industrial sector and increasing agricultural and services productivity for long term economic structural transformation (Rotberg, p. 79). Fiscal and monetary policy Between 2002/2003 and 2006/2007, Egypt’s budget deficit fell from 9.0% of their GDP to 7.7%. This is because the government lowered subsidies on fuel and held back wage growth. Interest payment and subsidy depress the government’s capital spending. Rapid supply and money growth continue to drive up inflation rates (Rotberg,

Sales planning and operations Essay Example | Topics and Well Written Essays - 2250 words - 1

Sales planning and operations - Essay Example he process of marketing planning; lastly, allocating where during periods of product shortage, the sales force might have a significant effect in the manner in which available stocks are allocated. Most importantly, personal selling has been found to lead to an actual sale. The information gathered by the salespeople can be utilised to improve the aggregate sells and production. The information also the firm maintains equilibrium between supply and demand. Besides, the information is also used to comprehend the customer’s needs and behaviour. The stages of decision making process include problem recognition, evaluation of alternatives, evaluation of the decision, search process, and selection stage (Pride & Ferrell, 2012:23). When purchasing a high-level product such as a house, the salesperson has higher chances of influences the buyer’s decision by providing more benefits of the house. In this case, the prospective clietnt will be easily persuaded to buy the house. The salespeople ensure that the need of the customer is met, thus revising the price of the product upwards. In relation to low-level products such as a newspaper, the chances of influencing the consumer purchasing behaviour are low since the products are of low risk. Besides, the decisions of purchasing the product is a routine (Kotler & Keller, 2009:134). The responsibilities of Halfords sales team that sells cycling and motoring products and services comprise of the following: establishing personal deliverables, improving targets and charter, having knowledge your firm’s products and services, accepting the quota responsibility my mapping out how one will attain goals, customer contacting, account management by managing account asset, executing the sales process, and opportunity management. The roles of the sales team comprise include managing the resources of the sales support, making periodic account and territory review presentations, offering of timely management reports, and finally,

Finance Article Critiques Essay Example | Topics and Well Written Essays - 750 words

Finance Article Critiques - Essay Example Blair-Loy conducted a study to evaluate the changes that have occurred in the cultural frameworks of family responsibilities of women executives in the financial sector. She defined two gendered cultural frameworks i.e. a work devotion schema and a family devotion schema. These schemes are identified as the main causes of conflicts in the interviewees’ vision for a meaningful life. From the interviews, the older interviewees are more inclined to portray a diametrically opposed conflict between the family and work schemes, thus many avoid childbearing or getting into marriages. On the other hand, the younger respondents who did not experience the women’s movement of the 1970s have reconstituted the family scheme through sub-contracting domestic roles in order to main their demanding careers. Nonetheless, the schema on family devotion haunts all cohorts due to its emotional, normative and cognitive power. Thus, she concludes that gender, when expressed in familial cultura l frameworks, continue to be a significant constraint on the minds and the hearts of women.The study utilized a cohort study by evaluating the executives’ devotion to either family or work based on their experiences and upbringing in different periods. the different cohorts make it easy to calculate the required ratios and to relate them to factors such as the women’s movement. This makes it easy to attribute the result to specific factors. Nonetheless, such an approach will require the re-assessment of these factors over time.

Profiles in Courage Essay Example | Topics and Well Written Essays - 500 words

Profiles in Courage - Essay Example Of the eight senators referred to in this book, the history of George W Norris and Robert A Taft is especially amazing. George W Norris George W Norris was a senator from the state of Nebraska. He served five terms in the United States Senate, spanning across the period 1913-1943 (Kennedy 171). Though being from a family of not much educated farmers of Scottish ancestry, he turned out to be a bright student who secured a degree in law from Valparaiso University (Kennedy 173). Senator George W Norris was especially known to be a man of vision and a fearless and honest speaker, emphatically dedicated to the cause of the common people (Kennedy 172). Though Senator Norris was not always successful in his endeavors, yet he seldom hesitated from responding to the call of his conscience, sans personal interests and party affiliations. Senator Norris was also known for committing himself to political causes that though just and in national interest, sometimes contradicted with the stakes of his constituency. Senator Norris held a filibuster against Woodrow Wilson’s intentions to use the American merchant ships for military purposes, an act that enervated his supporters in Nebraska (Kennedy 182). In the year 1928, Senator George W Norris happened to be the only prominent politician from Nebraska, who supported the presidential campaign of a highly unpopular Democrat Al Smith, solely out a sense of unwavering personal conviction (Kennedy 178).

Explain how insights from two theoretical perspectives can be used to Essay

Explain how insights from two theoretical perspectives can be used to explore the significance of ‘gaps’, ‘silences’ and ‘absences’ in The Turn of the Screw - Essay Example Eventually, her visions also lead to the tragic end of the novella. The strange images which appear before the governess, along with her generally distracted nature, lend themselves to two different literary interpretations, Marxist and Feminist. Her own attraction to the wealth of the family which has hired her, with the potential of advancing her own financial situation, is an obsession which seems to have led to many of her visions. Her companion in taking care of the children, the illiterate Mrs. Grose, tells the governess that the person the governess â€Å"sees† around the grounds must be the former valet Peter Quint, since he was known to wear the clothes of the head of the house. But since the governess had never known him, no one else can now see him, and he had died, the most plausible explanation is that the governess’ vision is that of the head of the house. Before leaving for his country estate, she had met him in London on Halsey Street. She is described in the introduction as being impressed by him as â€Å"a gentleman, a bachelor in the prime of life...He struck her, inevitably, as gallant and splendid. She conceived him as rich, but as fearfully extravagant--saw him all in a glow of high fashion, of good looks, of expensive habits, of charming ways with women.† This quote from the Introduction is a pattern repeated throughout the story, as the governess fills in the gaps of the facts she doesn’t have with her own, mostly pleasant fantasies, at least of this gentleman who hired her. Her impressions of this man fit well into the Marxist theory of literary analysis, in which economic and social conditions are thought to override all concerns. Her obsession with the great advancement given to her by her new position becomes quite clear in Chapter III, in which her new feeling of possession would quickly be

Leading in a Changing World Essay Example | Topics and Well Written Essays - 3750 words

Leading in a Changing World - Essay Example The theory holds that at least some activities are morally necessary irrespective of their magnitudes for human welfare (Isaacs, 2014, pp.96). In Teleological ethic, it is a theory of morals that originates duty responsibility from what is decent or necessary as a goal to be attained (Hurley, 2014, pp.225). In order for me to define the complex leadership ethics, I have chosen the leadership grid as my model for leadership in my industrial enterprise. A study done came up with four types of leaders; authoritarian, country club, improvised and team leader. In team leadership, study showed that they were high on tasks and high in relationship. The leaders govern by positive example and strive to raise a team environment so that every team member is able to reach his/her topmost potential, both as team fellows and as people. They inspire the group to reach objectives as efficiently as possible, while at the same time working hard to empower the links among the different members. Under a uthoritarian leadership, they were high on tasks and low on relationships. The leaders are more of task focused and are tough towards the workers. For country club leaders, they are more focused on team towards achieving set goals and use award power to ensure discipline. An impoverished leader is not committed to their work achievement or maintenance, and instead allows the team to do as they see fit. As a result, they are both low in task and relationship (Singh, 2009, pp.72). In 2007, Southwest airlines was involved in a scandal that involved the airline allowing 59 00 flights without carrying out adequate regulations and checkups as required by the Federal Aviation Administrations. On top of that, even after realizing their mistake, they allowed, 1 452 more flights. This violated the flight’s ethics and also endangered the lives to the general public.

Methods and tactics used to reduce gender and racial disparities in Essay

Methods and tactics used to reduce gender and racial disparities in prisons.-CRJ - Essay Example Lately the query about racial and gender disparities in prisons arises more occasionally and intensively, calling to implement specific instruments and tactics to diminish that phenomenon. Due to the statistic results African Americans and Hispanic lawbreakers are more likely to be convicted of felony than white people (Hartney & Vuong, 2009). Also in most cases the sentences of black people are longer. Disparity of arrest rates between racial groups strikes and scares drastically. Moreover, death penalty among colored prisoners is spread oftener than among white delinquents. In addition, there is a significant disproportion between male and female rates of criminality. All mentioned facts indicate the inequality in judicial system concerning offenders of different races and genders. According to stated problem several solutions that are aimed to reduce disparity can be recommended.

Bone Cancer Essay Example for Free

Bone Cancer Essay Bone cancer is a disease that occurs on or inside a bone. Usually, bone cancer involves a tumor filled with abnormal cells that will occasionally appear on the exterior of the bone. Similar to other types of cancer, bone cancer can be life threatening. Doctors are not completely sure what causes cancer, but they continue the search to find an answer. There are five different types of bone cancer that can affect people from ages 10-60 years old. Bone cancer can occur in any bone in the body from the legs to the head. Unfortunately, symptoms of bone cancer are not always obvious. Most of the time, pain is the most apparent symptom. When recognizing symptoms at an early stage, doctors can complete testing and supply treatment to the patient. Treatment for bone cancer usually begins with surgery followed by chemotherapy or radiotherapy. Because of the need to kill all of the abnormal cells that are growing on or inside the bone, treatment for bone cancer can be very powerful. In most cases, treatment is very successful. Before starting cancer treatment, many patients rely on statistics for a survival rate, but statistics are simply averages. Each patient has a different circumstance with his/her disease. There are 206 bones in the human body. Each bone serves several purposes. The bones of the body act as the structure that helps to support and protect many internal organs. The bones also serve as a muscle attachment that connects to the muscle to help during movement. But, most importantly, the bones of the body produce and store cells in the bone marrow. Cells make up the body tissue. However, some cells can become abnormal. Given that healthy cells make up body tissue, unhealthy cells grow and destroy body tissue and can often spread to other parts of the body. This abnormal growth of cells is called cancer. There are more than 100 types of cancer known to man, and 5 out of 100 are bone cancer. The most common type of bone cancer is Osteosarcoma, which commonly affects people from ages 10-25 years old. Osteosarcoma develops in new tissue usually in the arms, legs, or around the knee joint. Chondrosarcoma is another type of bone cancer. It usually develops in the cartilage of the pelvis, upper part of legs and arms, and the shoulder. Chondrosarcoma affects people from ages 50-60 years old. Ewing’s Sarcoma is a bone cancer that is known to begin in immature nerve tissue in the bone marrow. It attacks the pelvis, femur, and tibia. Ewing’s Sarcoma usually affects people from 10-20 years old. The last two types of bone cancer are Malignant Fibrous Histiocytoma and Fibrosarcoma. Both of these types of bone cancer are very rare and usually develop in the arms and legs or around the knee joint. Malignant Fibrous Histiocytoma and Fibrosarcoma are known to affect middle aged people. Bone cancer can sometimes be hard to detect. Symptoms of bone cancer can develop very slowly if at all. Often, one will develop swelling or tenderness in the affected area. Sometimes, a slightly visible lump may be felt through the skin. Bone cancer can also interfere with body movements like walking or hiking. Broken bones can also result from bone cancer. In one case, a victim of bone cancer recently started seeing symptoms of bone cancer. She developed a strong pain in her knee joint that enabled her to walk. The victim experienced a large amount of swelling around the joint. When she consulted a physician, the patient found that she had a fracture and a cancerous tumor in her knee. Even though the above symptoms can also lead to other injuries or diseases besides bone cancer, it is strongly recommended that one should consult a physician if in doubt. When diagnosing bone cancer, a doctor must first complete some tests. According to a summary of tests and procedures by Medicine Net on line, a doctor will first ask about a patient’s personal and family medical history in order to find out if there is any history of cancer in the family. Next, the doctor will order blood tests and x-rays. The exact size, shape, and location of a bone tumor can be seen through an x-ray. Then, a CAT scan (Computed Axial Tomography) will be completed to show whether the cancer has begun to spread to other parts of the body. A CAT scan will give detailed pictures of the cross section of the body. There are also similar tests like an MRI (Magnetic Resonance Imaging) and an Angiogram (x-ray of the arteries), but a biopsy is the ultimate test that will make sure that cancer is present in the body. After the victim was told that she had bone cancer, she experienced a biopsy in Seattle, Washington. The Medicine Net on line explained that during a biopsy, doctors test a sample of the bone tumor and determine through a microscope whether or not the tumor is cancerous. The many different tests of bone cancer are very critical to the outcome of the disease. The tests are used for staging the bone cancer. For example, if a patient of bone cancer had a CAT scan, and it showed that the bone cancer was not spreading, the doctors could stage the patient’s cancer as controlled. There are three types of treatment for bone cancer: surgery, chemotherapy, and radiotherapy. The treatment preference depends upon the type, location, size, and extent of tumor along with a patient’s needs. Sometimes, a combination of the three treatments is used on a patient. Because cancer can recur in the original affected area, surgeons often remove the tumor, tissue, and some healthy bone surrounding the tumor. In some cases, especially in children, a metal device will be implanted in place of the bone that was removed by a surgeon. This metal device functions to save a limb and lengthen as the child grows. Another type of treatment is chemotherapy. The National Cancer Institute, which covers both chemotherapy and radiotherapy, states that chemotherapy uses several drugs such as Cyclophosphamide, Vinblastine, and vincristine to kill cancer cells. Chemotherapy is a very intense treatment that can be given by mouth or by injection into a muscle or blood vessel. Chemotherapy is so powerful that there has to be a treatment period followed by a recovery period, which is usually when one has fully recovered from the intense drugs used in chemotherapy. Recovery periods can vary with each person. The last treatment for bone cancer is radiotherapy. This type of treatment uses high-energy rays to damage cancer cells and stop them from growing. Radiotherapy can sometimes be used in place of surgery to remove the bone cancer. Another use for radiotherapy is to kill cancer cells remaining in the affected area after treatment. All treatments for bone cancer are very strong. The treatments are so strong that they kill not only cancer cells but also some healthy cells. The five bone cancers are a very small proportion of the 100 or more cancers known to man. However, the National Cancer Institute is developing and sponsoring clinical trials on bone cancer patients in many hospitals and cancer centers. The National Cancer Institute is trying to find new effective treatments and methods for bone cancer. The future for bone cancer patients is very promising. Doctors and scientists are hoping to discover the cure for cancer in the next ten years.

Analysis of Global Economic Growth

Analysis of Global Economic Growth World economic growth 1.0 INTRODUCTION 1.1 World Economic Outlook: According to the World Bank, world economic growth accelerated sharply in 2004. In aggregate, the year 2004 has been the healthiest year for developing countries since the last three decades. East Asian countries have come out of the 1997 crisis and are now performing well. The ongoing economic boom in China as well as the surge in activities registered in Japan were major factors in promoting growth in the region. Latin American countries and Sub-Saharan Africa also had a better year. This performance reflects a fortuitous combination of long-term secular trends built on a foundation of better macroeconomic management and an improved domestic investment climate converging with a cyclical recovery of the global economy. There were however some lingering imbalances in the global economy associated with the rising twin deficits in the United States, a delayed recovery in Europe, coupled with high and volatile oil prices, and questions about the path of Chinas economy that might constitute risks to the pace of growth in developing countries over the medium term. Worlds economic growth is likely to slow down in 2005 with a projected rate of 3.2%. Several factors are likely to contribute to the slower growth. It is believed that the investment cycle in the US has peaked, therefore resulting in a slowdown in growth. Furthermore, world demand has far exceeded world supply, resulting in a substantial increase in oil and other commodity prices, therefore reducing demand in other countries. Also, increases in interest rates are likely to slow the investment growth. The US is likely to finance its large budget deficits through tighter fiscal policies and in Europe countries will tighten their budgetary control to remain within the realm of Maastricht limits. Table 1: World economic outlook Real Growth Rate (%) 2002 2003 2004 2005* World 1.7 2.7 4.0 3.2 High Income Countries 1.3 2.1 3.5 2.7 Euro Zone 0.9 0.5 1.8 2.1 USA 1.9 3.0 4.3 3.2 Japan -0.3 2.4 4.3 1.8 Developing Countries 3.4 5.2 6.1 5.4 East Asia and Pacific 6.7 7.9 7.8 7.1 Latin America and Caribbean -0.6 1.6 4.7 3.7 Sub Saharan Africa 3.1 3.0 3.2 3.6 *projected figures Source: Global Economic Prospects 2005, World Bank. 1.2 Mauritian Economic Outlook: Mauritian economic growth in 2004 was positive and stabilised at 4.2%, slightly lower than the 4.4% recorded in 2003. On the one hand, internal demand constituted an important dragging factor, with a 6.3% growth in consumption expenditure compared to 4.5% in 2003. On the other hand, lingering uncertainties linked to the wave of change in the international economic order, uninterrupted trade liberalisation and the gradual loss of our long-standing preferences had a dampening effect on growth. The recent run-up in oil prices was also a constraining factor on economic buoyancy. Business confidence appeared to be quite timid in 2004. However, in spite of an overall deceleration in the rate of investment, which grew by 5.5%, compared to 10.0% in 2003, private sector investment grew by a high 13.2% as opposed to a negative 2.2% in 2003. Moreover, international perception about Mauritius remained positive, and foreign investments in hotels and ICT projects were at a relatively high level. Despite the stable growth rate, several macroeconomic and sectoral performances were relatively unfavourable. Savings rate was lower, registering 23.3% of GDP in 2004 against 25.4% in 2003. Inflation rate was higher in 2004, reaching 5.5%, as opposed to 3.9% in 2003. Overall external trade worsened, from a surplus of Rs. 2 billion in 2003 to a deficit on Rs. 3.9 billion in 2004, as a result of a very large increase in the merchandise trade deficit, from Rs. 8.4 billion to Rs. 15.7 billion. On a sectoral basis, industries were faced with a restricted margin of manoeuvre as a result of increasing international competition from lower-cost producers. Repercussions were felt in the EPZ sector, which registered a negative growth rate of 5% in 2004, following the deceleration of 6% in 2003. The tourism sector, in spite of its apparent dynamism, recorded a growth rate of only 2.6%, compared to 3.0% in 2003. Financial services experienced some inertia, with a low expansion of 1.0%, compared to a high 7.2% in 2004. However, the agricultural sector expanded by 5.1% in 2004, in contrast to the low 1.9% recorded in 2003 and the non-EPZ sector grew by 5.0% in spite of the gradual reduction of tariff protection. 2.0 ECONOMIC PERFORMANCE FOR 2004 2.1 National Accounts: Real Gross Domestic Product (GDP) grew by a moderate 4.2% in 2004, compared to 4.4% in 2003. At current basic prices, GDP increased from Rs. 137.9 billion in 2003 to Rs. 151.7 billion. GDP per capita at current basic prices increased by 10.1%, to attain Rs. 122,984 in 2004. In US dollar terms, GDP per capita reached US$ 4,477, 11.7% higher than the previous year, when it reached US$4,010. It is worth noting also that at Purchasing Power Parity, GDP per capita in dollars was estimated at US$ 11,400 in 2003. For the second consecutive year, net income from the rest of the world was negative, with Rs. – 415 million in 2004, compared to Rs. – 833 million in 2003. Table 2: Output at current basic prices: Unit 2001 2002 2003 2004 Real GDP growth rate % +5.6 +1.8 +4.4 +4.2 GDP Rs. Million 117,720 125,260 137,868 151,725 Net income from abroad Rs. Million 393 396 833 415 GNI Rs. Million 118,113 125,656 137,035 151,310 GDP/capita Rs. 98,086 103,479 112,720 122,984 US$ US$ (PPP)* 3,380.9 9,609 3,462.2 10,810 4,010.0 11,400 4,477.4 n/a Exchange Rate, annual av. mid-rate Rs/$ 29.012 29.888 28.11 27.468 * GDP at Purchasing Power Parity provides a more reasonable international GDP comparison among nations.Source: CIA Fact Book 2004 While the EPZ sector continued to register negative growth rates for the third consecutive year, almost all other sectors recorded positive growth rates in 2004.   Non-EPZ grew by +5.0% in 2004, slightly lower than in 2003, when the growth rate was +5.8%. After high growth rates registered in 2002 (+7.6%) and 2003 (+11.1%) mainly due to high investment in building and construction works by the public sector, Construction grew by 3.1% in 2004. The distributive trade sector grew by 3.2%, slightly higher than the 3.1% recorded in the previous year. Transport and Communications activities expanded by 6.5% in 2004 as opposed to 6.1% in 2003. During the same period real estate, renting and business activities grew by 6.9% compared to 6.5% in 2003. Education, including services provided by public and private operators grew by 7.2% in 2004, compared to 5.3% in 2003, while health and social work expanded by 8.8% compared to 7.0% in 2003. Electricity, gas and water supply registered a growth of 4.2% as opposed to 4.6% in 2003. 2.2 Consumption Last years economic performance was once again influenced by internal demand. Total final contribution of consumption to GDP at market price was estimated at 77.3%, compared to 75.1% in 2003. Real final consumption expenditure, increased by 6.3% in 2004, compared to a 4.5% rise in 2003. This expansion in the consumption rate, which is much higher than the GDP growth rate, is clearly inflationary and has a negative direct impact on trade balance and budget deficit. It must be noted that private consumption represented 83.1% of total consumption in 2004, as opposed to 82.8% in 2003. A growth of 6.7% was observed in the consumption of households in 2004, against 4.9% in 2003. This is the highest growth rate recorded since 1989. On the other hand, the share of public sector consumption amounted to 16.9% of total consumption in 2004, showing a slight drop from the 17.2% observed in 2003. Public consumption grew by 4.4% compared to an increase of 2.6% in 2003. In 2004, the continued growth observed in total consumption has been largely sustained by the significant increase in average monthly income earnings of households. The average monthly earnings in large establishments grew by 12.8% between March 2003 and March 2004, to reach Rs. 11, 084. A general upward trend was observed in all industrial groups. The largest increase (+24%) was noted in public administration, following the implementation of the PRB in July 2004. Table 3: Consumption 2001 2002 2003 2004 Aggregate Final Consumption Household Central Government Rs b Rs. b Rs. b 97.0 80.2 16.8 106.6 88.3 18.3 118.3 98.1 20.2 135.1 112.2 22.9 Consumption as a % of GDP at MP % 73.4 75.0 75.1 77.3 Real Agg. Final Consumption growth o Household o Central Government % % % 3.3 3.0 4.7 3.2 3.3 4.1 4.5 4.9 2.6 6.3 6.7 4.4 Average monthly earnings (March) Rs. 8,701 9,159 9,826 11,084 Change in monthly earnings, Nominal % 6.4 5.3 7.3 12.8 2.3 Savings Investment Gross national savings, measured by the difference between Gross National Disposable Income and Total Consumption, increased in nominal terms by 1.8% to reach Rs 40.7 billion in 2004 from Rs 40.0 billion in 2003. Consequently, the saving rate, calculated as the ratio of GNS to GDP at market prices, showed a decline from 25.4% in 2003 to 23.3% in 2004. This decline results from an increase in both public and private expenditure. Table 4: Savings and investment 2001 2002 2003 2004 Gross National Savings (Rs. Billion) 37.6 38.7 40.0 40.7 Nominal Change (%) +2.8 +3.4 +1.8 GNS as a % of GDP at MP (%) 28.4 27.3 25.4 23.3 GDFCF (Rs. billion) Private Sector Public Sector 29.8 20.5 9.3 31.4 21.6 9.8 35.7 21.8 13.8 38.9 25.6 13.4 Real Change in GDFCF (incl aircrafts and vessels) , % +2.7 +1.9 +10.0 +5.5 Real Change in GDFCF (Excl. aircraft and vessels), % -2.6 +6.1 +7.9 +8.2 GDFCF as a % of GDP at MP 22.5 22.0 22.6 22.3 Investment, measured by the Gross Domestic Fixed Capital Formation (GDFCF), increased to Rs 38.9 billion in 2004 from Rs 35.7 billion in 2003. In real terms, including the purchase of aircrafts and marine vessels, total investment has followed an upward trend of 5.5% in 2004, but lower than the 10.0% growth recorded in 2003. It is interesting to note that net of the purchase of aircrafts and vessels, real investment grew by 8.2% in 2004, representing a better performance than in 2003, when it grew by 7.9%. Investment rate, measured as the ratio of GDFCF to GDP at market prices, has however gone down by 0.3%, to reach 22.3% in 2004 from 22.6% in 2003. Private sector investment continued to make up the bulk of GDFCF in 2004. It accounted for 65.6% of total investment in 2004, compared to 61.2% in 2003. This represented a real growth of 13.2% in 2004, after a negative growth rate of -2.2% in 2003. Higher private sector investment was accounted for by new hotels projects, where investment increased by 55.8% in 2004, as opposed to a negative growth of 21.8% in the preceding year. Moreover, there were additional investments in spinning mills and other projects in the EPZ sector, with an increase of 45.0% in 2004 as opposed to a negative 7.7% in 2003.Inversely, the share of public sector investment fell from 38.8% in 2003 to 34.4% in real terms in 2004. In fact, real public sector investment dropped by 6.6% in 2004, after a high 37.0% real growth in 2003, resulting from a record increase of 133.3% in investment in the construction sector in 2003. The resource gap, given by the difference between savings and investment, was again positive in 2004. However, there has been a significant contraction of 59.7%, from Rs. 4.3 billion in 2003 to reach Rs 1.7 billion in 2004, since investment increased more than savings. The direct consequence of this contraction is a further deterioration of the external account of goods and services. 2.4 Foreign Direct Investment In 2004, FDI inflow fell by 8.6% to reach Rs 1.79 billion against Rs 1.96 billion in 2003. A sharp contraction was observed in the banking sector, where only Rs. 121 million were invested in 2004, as opposed to a high Rs. 1.3 billion in 2003. In contrast, higher investments were recorded in the telecommunications sector in the wake of further liberalisation. Similarly, a total of Rs. 1.08 billion were invested in 2004 in other sectors of the economy, including IT, compared to only Rs. 485 million in 2003. The EPZ sector also attracted more FDI in 2004, with Rs. 248 million, compared to Rs. 77 million in 2003. The same upward trend was observed in the tourism sector, from Rs. 103 million in 2003 to Rs. 121 million in 2004. Table 5: Foreign Investment, Rs million 2000 2001 2002 2003 2004 Foreign Direct Investment 7,265* 936 979 1966 1,796 EPZ 8 3 41 77 248 Tourism 10 0 100 103 121 Banking 0 600 316 1301 310 Telecoms 7204 0 0 0 38 Others 43 333 522 485 1079 Direct Investment Abroad 333 83 278 1166 909 Net Foreign Direct Investment 6,932 853 701 800 887 * Includes receipts from the sales of Mauritius Telecom shares to France Telecom of Rs 7.2 billion 1 Revised Estimates Concerning outward investment, a high figure of Rs. 1.2 billion was recorded in 2003. However, in 2004, it fell to Rs. 887 million. 2.5   Balance of Payments The overall balance of payments in 2004, measured as a change in foreign reserve assets excluding valuation changes of the Bank of Mauritius, showed a surplus of Rs. 4.2 billion, compared to a surplus of Rs. 6.2 billion in the preceding year. In the first three quarters of 2004, the current account recorded a deficit of Rs. 2.3 billion, compared to a surplus of Rs. 1.8 billion in the corresponding period in 2003, reflecting a deterioration in the visible trade account. The balance of trade worsened from a surplus of Rs. 988 million in the first three quarters of 2003 to a deficit of Rs. 3.0 billion in the corresponding period of 2004. The capital and financial account, inclusive of reserves, recorded a net outflow of Rs. 163 million in the first three quarters of 2004 as opposed to a net outflow of Rs. 1.6 billion in the same period in 2003. At the end of December 2004, Net International Reserves amounted to Rs. 52.8 billion, 8% higher than in December 2003, when it reached Rs. 48.9 billion. Based on the value of the import bill, exclusive of the purchase of aircrafts and vessels, the level of net international reserves represented 39.6 weeks on imports at the end of December 2004. For the corresponding figure in 2003, it represented 36.6 weeks of imports. 2.6 External Trade Table 6: External Trade, Rs Billion 2001 2002 2003 2004 Trade in goods: Exports of goods – excl freeport activities (f.o.b) 47.5 47.3 46.2 48.9 Export of goods – freeport activities 7.3 6.6 6.8 6.8 Imports of goods – excl freeport activities (f.o.b) 53.8 56.0 57.5 67.6 Imports of goods – Freeport activities 5.2 4.2 3.9 3.8 Merchandise trade balance* 4.2 6.3 8.4 15.7 Trade in services Exports of services 35.6 34.4 35.7 39.8 Imports of services 23.6 23.7 25.3 30.0 Balance of trade in services 12.0 10.7 10.4 11.8 Overall trade balance 7.8 4.3 2.0 3.9 * Both Exports and imports are calculated on an f.o.b basis The overall balance of trade in goods and services marked a significant deterioration in 2004. In fact, there was a shift from a trade surplus of Rs. 2 billion in 2003 to a trade deficit of Rs. 3.9 billion in 2004. There was a sharp increase in the deficit in visible trade, which worsened by 87.1% in 2004. Trade in goods was largely biased against imports, therefore resulting in a faster growth in imports, which soared by 14.6% compared to a low 3.3% in 2003. Exports however grew at 7.6% in 2004 as opposed a meagre 0.5% in the preceding year.   On the other hand, trade in services fared well, registering a surplus of Rs. 11.8 billion in 2004, representing 13.5% more than in the previous year. Much of the increase in merchandise imports in 2004 was associated with investment projects, both in the public and private sector. For instance, appreciable increases were noted in the c.i.f value of cement (+57.6%), machinery and transport equipment (+25.9%), crude materials including textile fibres (+46.2%), and telecommunications equipment (+80.3%). Others are linked to an increasing food bill, with surge in the c.i.f value of food items (+14.9%) and of road vehicles (+53.1%). In fact, it is worth noting that in the fourth quarter of 2004, additional projects and events continued to contribute to boost the import bill. There were also new investment projects in EPZ and in energy production and the significant rise in the international price of petroleum products. Finally, the appreciation of the Rand (+13.2%), the Pound Sterling (+9.1%), the Australian Dollar (+9.2%) and the Euro (+7.1%) also contributed to the escalating visible trade deficit. Box: 1 Exports lack dynamics: Although the Mauritian rupee continued to depreciate against major currencies, including the Euro, exports growth remained relatively static over the past few years. A combination of factors resulted in such a situation. Our markets remained relatively undiversified, with a high concentration in Europe. In the past few years, especially since the advent of the Euro in 2000, the Euro Zone has been relatively less dynamic than other countries like China and the US. Our exports to the most dynamic zones have remained however low. Some of the factors responsible for this lack of dynamism include erosion of our long-standing preferences, rising costs of production and the mismatch of skills on the labour market. Trade in services on the other hand, recorded a surplus of Rs. 11.8 billion, 13.5% higher than in the previous year. This is in part, due to higher earnings from the travel industry benefiting from the windfall gains of a strong euro and a strong pound sterling. Exports of services surged by 11.4% in 2004, from Rs. 35.7 billion in 2003 to Rs. 39.8 billion in 2004, whereas there was a 10.6% increase in the imports of services during the same period of time, from Rs. 25.3 billion to Rs. 30.0 billion. 2.7 Inflation Table 7: Inflation Rate, % Calendar Yr Inflation rate (%) Fiscal Yr Inflation rate (%) 2001 5.4 01/02 6.3 2002 6.4 02/03 5.1 2003 3.9 03/04 3.9 2004 4.7 04/05 5.5 The inflation rate, as measured by the percentage change in the yearly average consumer price index reached 4.7% for calendar year 2004 compared to 3.9% in 2003.   This was mainly the result of a combination of domestic and external factors. There were significant increases in the price of subsidised flour (+17%) and rice (+40%). The rise in the price of flour led to an increase in the price of bread by 12%. The price of other food items, such as chicken (+8.8%), fish (+8.5%) , beef (+9.7%), and frozen mutton (+15.2%)   also went up in 2004. In addition, the rise in international oil prices had spill over effects on the domestic economy. There were three successive increases in the price of gasoline and diesel oil. The price of gasoline increased by a total of 27.9% and the price of diesel oil rose by 45.0%, therefore causing subsequent surges in electricity tariffs (+5.1%), bus fares (+13.3%), taxi fares (+15.4%) and air fares (+16.0%). Finally, the prevailing high budget deficit and the sustained level of public investment also contributed to inflationary pressures. 2.8 Employment/ Unemployment Until 2003, labour force statistics were estimated on the basis of the Population census or Labour Force Sample Survey. A new methodology, named the Continuous Multi Purpose Household Survey   (CMPHS) was introduced in March 2004 to estimate the labour force, employment and unemployment rate. It is based on a sample of households that presently covers a total 8,640 households for the whole of 2004. Estimates are conducted on a quarterly basis, on 2,160 households per quarter. In the new CMPHS, the lower age cut-off point to estimate the labour force was brought to 15 years instead of 12 years used previously. A few inconsistencies with regard to the results of the survey have been noted, which probably indicate some weaknesses in the new methodology. The table below gives the estimated figures for the 3 quarters of 2004: Table 8: March 2004 – Estimates June 2004 – Estimates September 2004 – Estimates Labour force Male Female 541,100 348,700 192,400 540,700 347,500 193,200 527,800 349,400 178,400 Employment Male Female 494,100 328,400 165,700 491,200 324,600 166,600 483,500 329,800 153,700 Unemployment Male Female 47,000 20,300 26,700 49,500 22,900 26,600 44,300 19,600 24,700 Unemployment Rate (%) 8.7 9.2 8.4 Contrary to what one would logically expect, the CMPHS estimates indicate a downward trend in the labour force over the three quarters. From March to June, there was a fall of 400 people in the labour force. However, a larger fall was observed, with a contraction of 12,900 jobs from June to September Analysis of Global Economic Growth Analysis of Global Economic Growth World economic growth 1.0 INTRODUCTION 1.1 World Economic Outlook: According to the World Bank, world economic growth accelerated sharply in 2004. In aggregate, the year 2004 has been the healthiest year for developing countries since the last three decades. East Asian countries have come out of the 1997 crisis and are now performing well. The ongoing economic boom in China as well as the surge in activities registered in Japan were major factors in promoting growth in the region. Latin American countries and Sub-Saharan Africa also had a better year. This performance reflects a fortuitous combination of long-term secular trends built on a foundation of better macroeconomic management and an improved domestic investment climate converging with a cyclical recovery of the global economy. There were however some lingering imbalances in the global economy associated with the rising twin deficits in the United States, a delayed recovery in Europe, coupled with high and volatile oil prices, and questions about the path of Chinas economy that might constitute risks to the pace of growth in developing countries over the medium term. Worlds economic growth is likely to slow down in 2005 with a projected rate of 3.2%. Several factors are likely to contribute to the slower growth. It is believed that the investment cycle in the US has peaked, therefore resulting in a slowdown in growth. Furthermore, world demand has far exceeded world supply, resulting in a substantial increase in oil and other commodity prices, therefore reducing demand in other countries. Also, increases in interest rates are likely to slow the investment growth. The US is likely to finance its large budget deficits through tighter fiscal policies and in Europe countries will tighten their budgetary control to remain within the realm of Maastricht limits. Table 1: World economic outlook Real Growth Rate (%) 2002 2003 2004 2005* World 1.7 2.7 4.0 3.2 High Income Countries 1.3 2.1 3.5 2.7 Euro Zone 0.9 0.5 1.8 2.1 USA 1.9 3.0 4.3 3.2 Japan -0.3 2.4 4.3 1.8 Developing Countries 3.4 5.2 6.1 5.4 East Asia and Pacific 6.7 7.9 7.8 7.1 Latin America and Caribbean -0.6 1.6 4.7 3.7 Sub Saharan Africa 3.1 3.0 3.2 3.6 *projected figures Source: Global Economic Prospects 2005, World Bank. 1.2 Mauritian Economic Outlook: Mauritian economic growth in 2004 was positive and stabilised at 4.2%, slightly lower than the 4.4% recorded in 2003. On the one hand, internal demand constituted an important dragging factor, with a 6.3% growth in consumption expenditure compared to 4.5% in 2003. On the other hand, lingering uncertainties linked to the wave of change in the international economic order, uninterrupted trade liberalisation and the gradual loss of our long-standing preferences had a dampening effect on growth. The recent run-up in oil prices was also a constraining factor on economic buoyancy. Business confidence appeared to be quite timid in 2004. However, in spite of an overall deceleration in the rate of investment, which grew by 5.5%, compared to 10.0% in 2003, private sector investment grew by a high 13.2% as opposed to a negative 2.2% in 2003. Moreover, international perception about Mauritius remained positive, and foreign investments in hotels and ICT projects were at a relatively high level. Despite the stable growth rate, several macroeconomic and sectoral performances were relatively unfavourable. Savings rate was lower, registering 23.3% of GDP in 2004 against 25.4% in 2003. Inflation rate was higher in 2004, reaching 5.5%, as opposed to 3.9% in 2003. Overall external trade worsened, from a surplus of Rs. 2 billion in 2003 to a deficit on Rs. 3.9 billion in 2004, as a result of a very large increase in the merchandise trade deficit, from Rs. 8.4 billion to Rs. 15.7 billion. On a sectoral basis, industries were faced with a restricted margin of manoeuvre as a result of increasing international competition from lower-cost producers. Repercussions were felt in the EPZ sector, which registered a negative growth rate of 5% in 2004, following the deceleration of 6% in 2003. The tourism sector, in spite of its apparent dynamism, recorded a growth rate of only 2.6%, compared to 3.0% in 2003. Financial services experienced some inertia, with a low expansion of 1.0%, compared to a high 7.2% in 2004. However, the agricultural sector expanded by 5.1% in 2004, in contrast to the low 1.9% recorded in 2003 and the non-EPZ sector grew by 5.0% in spite of the gradual reduction of tariff protection. 2.0 ECONOMIC PERFORMANCE FOR 2004 2.1 National Accounts: Real Gross Domestic Product (GDP) grew by a moderate 4.2% in 2004, compared to 4.4% in 2003. At current basic prices, GDP increased from Rs. 137.9 billion in 2003 to Rs. 151.7 billion. GDP per capita at current basic prices increased by 10.1%, to attain Rs. 122,984 in 2004. In US dollar terms, GDP per capita reached US$ 4,477, 11.7% higher than the previous year, when it reached US$4,010. It is worth noting also that at Purchasing Power Parity, GDP per capita in dollars was estimated at US$ 11,400 in 2003. For the second consecutive year, net income from the rest of the world was negative, with Rs. – 415 million in 2004, compared to Rs. – 833 million in 2003. Table 2: Output at current basic prices: Unit 2001 2002 2003 2004 Real GDP growth rate % +5.6 +1.8 +4.4 +4.2 GDP Rs. Million 117,720 125,260 137,868 151,725 Net income from abroad Rs. Million 393 396 833 415 GNI Rs. Million 118,113 125,656 137,035 151,310 GDP/capita Rs. 98,086 103,479 112,720 122,984 US$ US$ (PPP)* 3,380.9 9,609 3,462.2 10,810 4,010.0 11,400 4,477.4 n/a Exchange Rate, annual av. mid-rate Rs/$ 29.012 29.888 28.11 27.468 * GDP at Purchasing Power Parity provides a more reasonable international GDP comparison among nations.Source: CIA Fact Book 2004 While the EPZ sector continued to register negative growth rates for the third consecutive year, almost all other sectors recorded positive growth rates in 2004.   Non-EPZ grew by +5.0% in 2004, slightly lower than in 2003, when the growth rate was +5.8%. After high growth rates registered in 2002 (+7.6%) and 2003 (+11.1%) mainly due to high investment in building and construction works by the public sector, Construction grew by 3.1% in 2004. The distributive trade sector grew by 3.2%, slightly higher than the 3.1% recorded in the previous year. Transport and Communications activities expanded by 6.5% in 2004 as opposed to 6.1% in 2003. During the same period real estate, renting and business activities grew by 6.9% compared to 6.5% in 2003. Education, including services provided by public and private operators grew by 7.2% in 2004, compared to 5.3% in 2003, while health and social work expanded by 8.8% compared to 7.0% in 2003. Electricity, gas and water supply registered a growth of 4.2% as opposed to 4.6% in 2003. 2.2 Consumption Last years economic performance was once again influenced by internal demand. Total final contribution of consumption to GDP at market price was estimated at 77.3%, compared to 75.1% in 2003. Real final consumption expenditure, increased by 6.3% in 2004, compared to a 4.5% rise in 2003. This expansion in the consumption rate, which is much higher than the GDP growth rate, is clearly inflationary and has a negative direct impact on trade balance and budget deficit. It must be noted that private consumption represented 83.1% of total consumption in 2004, as opposed to 82.8% in 2003. A growth of 6.7% was observed in the consumption of households in 2004, against 4.9% in 2003. This is the highest growth rate recorded since 1989. On the other hand, the share of public sector consumption amounted to 16.9% of total consumption in 2004, showing a slight drop from the 17.2% observed in 2003. Public consumption grew by 4.4% compared to an increase of 2.6% in 2003. In 2004, the continued growth observed in total consumption has been largely sustained by the significant increase in average monthly income earnings of households. The average monthly earnings in large establishments grew by 12.8% between March 2003 and March 2004, to reach Rs. 11, 084. A general upward trend was observed in all industrial groups. The largest increase (+24%) was noted in public administration, following the implementation of the PRB in July 2004. Table 3: Consumption 2001 2002 2003 2004 Aggregate Final Consumption Household Central Government Rs b Rs. b Rs. b 97.0 80.2 16.8 106.6 88.3 18.3 118.3 98.1 20.2 135.1 112.2 22.9 Consumption as a % of GDP at MP % 73.4 75.0 75.1 77.3 Real Agg. Final Consumption growth o Household o Central Government % % % 3.3 3.0 4.7 3.2 3.3 4.1 4.5 4.9 2.6 6.3 6.7 4.4 Average monthly earnings (March) Rs. 8,701 9,159 9,826 11,084 Change in monthly earnings, Nominal % 6.4 5.3 7.3 12.8 2.3 Savings Investment Gross national savings, measured by the difference between Gross National Disposable Income and Total Consumption, increased in nominal terms by 1.8% to reach Rs 40.7 billion in 2004 from Rs 40.0 billion in 2003. Consequently, the saving rate, calculated as the ratio of GNS to GDP at market prices, showed a decline from 25.4% in 2003 to 23.3% in 2004. This decline results from an increase in both public and private expenditure. Table 4: Savings and investment 2001 2002 2003 2004 Gross National Savings (Rs. Billion) 37.6 38.7 40.0 40.7 Nominal Change (%) +2.8 +3.4 +1.8 GNS as a % of GDP at MP (%) 28.4 27.3 25.4 23.3 GDFCF (Rs. billion) Private Sector Public Sector 29.8 20.5 9.3 31.4 21.6 9.8 35.7 21.8 13.8 38.9 25.6 13.4 Real Change in GDFCF (incl aircrafts and vessels) , % +2.7 +1.9 +10.0 +5.5 Real Change in GDFCF (Excl. aircraft and vessels), % -2.6 +6.1 +7.9 +8.2 GDFCF as a % of GDP at MP 22.5 22.0 22.6 22.3 Investment, measured by the Gross Domestic Fixed Capital Formation (GDFCF), increased to Rs 38.9 billion in 2004 from Rs 35.7 billion in 2003. In real terms, including the purchase of aircrafts and marine vessels, total investment has followed an upward trend of 5.5% in 2004, but lower than the 10.0% growth recorded in 2003. It is interesting to note that net of the purchase of aircrafts and vessels, real investment grew by 8.2% in 2004, representing a better performance than in 2003, when it grew by 7.9%. Investment rate, measured as the ratio of GDFCF to GDP at market prices, has however gone down by 0.3%, to reach 22.3% in 2004 from 22.6% in 2003. Private sector investment continued to make up the bulk of GDFCF in 2004. It accounted for 65.6% of total investment in 2004, compared to 61.2% in 2003. This represented a real growth of 13.2% in 2004, after a negative growth rate of -2.2% in 2003. Higher private sector investment was accounted for by new hotels projects, where investment increased by 55.8% in 2004, as opposed to a negative growth of 21.8% in the preceding year. Moreover, there were additional investments in spinning mills and other projects in the EPZ sector, with an increase of 45.0% in 2004 as opposed to a negative 7.7% in 2003.Inversely, the share of public sector investment fell from 38.8% in 2003 to 34.4% in real terms in 2004. In fact, real public sector investment dropped by 6.6% in 2004, after a high 37.0% real growth in 2003, resulting from a record increase of 133.3% in investment in the construction sector in 2003. The resource gap, given by the difference between savings and investment, was again positive in 2004. However, there has been a significant contraction of 59.7%, from Rs. 4.3 billion in 2003 to reach Rs 1.7 billion in 2004, since investment increased more than savings. The direct consequence of this contraction is a further deterioration of the external account of goods and services. 2.4 Foreign Direct Investment In 2004, FDI inflow fell by 8.6% to reach Rs 1.79 billion against Rs 1.96 billion in 2003. A sharp contraction was observed in the banking sector, where only Rs. 121 million were invested in 2004, as opposed to a high Rs. 1.3 billion in 2003. In contrast, higher investments were recorded in the telecommunications sector in the wake of further liberalisation. Similarly, a total of Rs. 1.08 billion were invested in 2004 in other sectors of the economy, including IT, compared to only Rs. 485 million in 2003. The EPZ sector also attracted more FDI in 2004, with Rs. 248 million, compared to Rs. 77 million in 2003. The same upward trend was observed in the tourism sector, from Rs. 103 million in 2003 to Rs. 121 million in 2004. Table 5: Foreign Investment, Rs million 2000 2001 2002 2003 2004 Foreign Direct Investment 7,265* 936 979 1966 1,796 EPZ 8 3 41 77 248 Tourism 10 0 100 103 121 Banking 0 600 316 1301 310 Telecoms 7204 0 0 0 38 Others 43 333 522 485 1079 Direct Investment Abroad 333 83 278 1166 909 Net Foreign Direct Investment 6,932 853 701 800 887 * Includes receipts from the sales of Mauritius Telecom shares to France Telecom of Rs 7.2 billion 1 Revised Estimates Concerning outward investment, a high figure of Rs. 1.2 billion was recorded in 2003. However, in 2004, it fell to Rs. 887 million. 2.5   Balance of Payments The overall balance of payments in 2004, measured as a change in foreign reserve assets excluding valuation changes of the Bank of Mauritius, showed a surplus of Rs. 4.2 billion, compared to a surplus of Rs. 6.2 billion in the preceding year. In the first three quarters of 2004, the current account recorded a deficit of Rs. 2.3 billion, compared to a surplus of Rs. 1.8 billion in the corresponding period in 2003, reflecting a deterioration in the visible trade account. The balance of trade worsened from a surplus of Rs. 988 million in the first three quarters of 2003 to a deficit of Rs. 3.0 billion in the corresponding period of 2004. The capital and financial account, inclusive of reserves, recorded a net outflow of Rs. 163 million in the first three quarters of 2004 as opposed to a net outflow of Rs. 1.6 billion in the same period in 2003. At the end of December 2004, Net International Reserves amounted to Rs. 52.8 billion, 8% higher than in December 2003, when it reached Rs. 48.9 billion. Based on the value of the import bill, exclusive of the purchase of aircrafts and vessels, the level of net international reserves represented 39.6 weeks on imports at the end of December 2004. For the corresponding figure in 2003, it represented 36.6 weeks of imports. 2.6 External Trade Table 6: External Trade, Rs Billion 2001 2002 2003 2004 Trade in goods: Exports of goods – excl freeport activities (f.o.b) 47.5 47.3 46.2 48.9 Export of goods – freeport activities 7.3 6.6 6.8 6.8 Imports of goods – excl freeport activities (f.o.b) 53.8 56.0 57.5 67.6 Imports of goods – Freeport activities 5.2 4.2 3.9 3.8 Merchandise trade balance* 4.2 6.3 8.4 15.7 Trade in services Exports of services 35.6 34.4 35.7 39.8 Imports of services 23.6 23.7 25.3 30.0 Balance of trade in services 12.0 10.7 10.4 11.8 Overall trade balance 7.8 4.3 2.0 3.9 * Both Exports and imports are calculated on an f.o.b basis The overall balance of trade in goods and services marked a significant deterioration in 2004. In fact, there was a shift from a trade surplus of Rs. 2 billion in 2003 to a trade deficit of Rs. 3.9 billion in 2004. There was a sharp increase in the deficit in visible trade, which worsened by 87.1% in 2004. Trade in goods was largely biased against imports, therefore resulting in a faster growth in imports, which soared by 14.6% compared to a low 3.3% in 2003. Exports however grew at 7.6% in 2004 as opposed a meagre 0.5% in the preceding year.   On the other hand, trade in services fared well, registering a surplus of Rs. 11.8 billion in 2004, representing 13.5% more than in the previous year. Much of the increase in merchandise imports in 2004 was associated with investment projects, both in the public and private sector. For instance, appreciable increases were noted in the c.i.f value of cement (+57.6%), machinery and transport equipment (+25.9%), crude materials including textile fibres (+46.2%), and telecommunications equipment (+80.3%). Others are linked to an increasing food bill, with surge in the c.i.f value of food items (+14.9%) and of road vehicles (+53.1%). In fact, it is worth noting that in the fourth quarter of 2004, additional projects and events continued to contribute to boost the import bill. There were also new investment projects in EPZ and in energy production and the significant rise in the international price of petroleum products. Finally, the appreciation of the Rand (+13.2%), the Pound Sterling (+9.1%), the Australian Dollar (+9.2%) and the Euro (+7.1%) also contributed to the escalating visible trade deficit. Box: 1 Exports lack dynamics: Although the Mauritian rupee continued to depreciate against major currencies, including the Euro, exports growth remained relatively static over the past few years. A combination of factors resulted in such a situation. Our markets remained relatively undiversified, with a high concentration in Europe. In the past few years, especially since the advent of the Euro in 2000, the Euro Zone has been relatively less dynamic than other countries like China and the US. Our exports to the most dynamic zones have remained however low. Some of the factors responsible for this lack of dynamism include erosion of our long-standing preferences, rising costs of production and the mismatch of skills on the labour market. Trade in services on the other hand, recorded a surplus of Rs. 11.8 billion, 13.5% higher than in the previous year. This is in part, due to higher earnings from the travel industry benefiting from the windfall gains of a strong euro and a strong pound sterling. Exports of services surged by 11.4% in 2004, from Rs. 35.7 billion in 2003 to Rs. 39.8 billion in 2004, whereas there was a 10.6% increase in the imports of services during the same period of time, from Rs. 25.3 billion to Rs. 30.0 billion. 2.7 Inflation Table 7: Inflation Rate, % Calendar Yr Inflation rate (%) Fiscal Yr Inflation rate (%) 2001 5.4 01/02 6.3 2002 6.4 02/03 5.1 2003 3.9 03/04 3.9 2004 4.7 04/05 5.5 The inflation rate, as measured by the percentage change in the yearly average consumer price index reached 4.7% for calendar year 2004 compared to 3.9% in 2003.   This was mainly the result of a combination of domestic and external factors. There were significant increases in the price of subsidised flour (+17%) and rice (+40%). The rise in the price of flour led to an increase in the price of bread by 12%. The price of other food items, such as chicken (+8.8%), fish (+8.5%) , beef (+9.7%), and frozen mutton (+15.2%)   also went up in 2004. In addition, the rise in international oil prices had spill over effects on the domestic economy. There were three successive increases in the price of gasoline and diesel oil. The price of gasoline increased by a total of 27.9% and the price of diesel oil rose by 45.0%, therefore causing subsequent surges in electricity tariffs (+5.1%), bus fares (+13.3%), taxi fares (+15.4%) and air fares (+16.0%). Finally, the prevailing high budget deficit and the sustained level of public investment also contributed to inflationary pressures. 2.8 Employment/ Unemployment Until 2003, labour force statistics were estimated on the basis of the Population census or Labour Force Sample Survey. A new methodology, named the Continuous Multi Purpose Household Survey   (CMPHS) was introduced in March 2004 to estimate the labour force, employment and unemployment rate. It is based on a sample of households that presently covers a total 8,640 households for the whole of 2004. Estimates are conducted on a quarterly basis, on 2,160 households per quarter. In the new CMPHS, the lower age cut-off point to estimate the labour force was brought to 15 years instead of 12 years used previously. A few inconsistencies with regard to the results of the survey have been noted, which probably indicate some weaknesses in the new methodology. The table below gives the estimated figures for the 3 quarters of 2004: Table 8: March 2004 – Estimates June 2004 – Estimates September 2004 – Estimates Labour force Male Female 541,100 348,700 192,400 540,700 347,500 193,200 527,800 349,400 178,400 Employment Male Female 494,100 328,400 165,700 491,200 324,600 166,600 483,500 329,800 153,700 Unemployment Male Female 47,000 20,300 26,700 49,500 22,900 26,600 44,300 19,600 24,700 Unemployment Rate (%) 8.7 9.2 8.4 Contrary to what one would logically expect, the CMPHS estimates indicate a downward trend in the labour force over the three quarters. From March to June, there was a fall of 400 people in the labour force. However, a larger fall was observed, with a contraction of 12,900 jobs from June to September

Byzantium: faith and power 1261 - 1557 :: essays research papers

Byzantium – the state which has brought in the big contribution to development of culture to Europe of middle ages. Here the Christianity for the first time became an official religion. Christianity affected the Byzantine art. In Byzantine art the main subject of paintings – icons (Greek – image) were holy figures: Christ, the Virgin Mary, the saints, and the apostles. One of the most famous is icon with Archangel Gabriel, Byzantine (Constantinople or Sinai?), 13th century. There is the exhibition devoted to the art of Byzantine civilization at the Metropolitan Museum of Art. The exhibition begins in 1261, when the capital Constantinople was restored to imperial rule, and concludes in 1557. It is last period of existence of Byzantium and time of last blossoming of its culture. One of the great example of Byzantine icons is Two-Sided Icon with the Virgin Pafsolype and Feast Scenes and the Crucifixion and Prophets, Byzantine (Constantinople) second half of the 14th century. On the observe side there is the picture of the Virgin and Child surrounded by ten feast scenes. At the upper left corner we can see Archangel Gabriel tells to the Virgin that she will have a Child. The last scene is the death of the Virgin. On the reserve side we can see the Crucifixion of the Christ. Mother and apostle stand near Christ with a great sorrow on their faces. The other great icon from that epoch is icon with Saint Catherine of Alexandria and Scenes of her Passion and Martyrdom, Sinai, 13th century. The image of Saint Catherine also surrounded by twelve small scenes from her life. There are scenes of her imprisonment and torture, and we can see that angel never leaves her. The last scene is her beheading. If we look at this icon we can see that the Saint Catherine holds the cross on her hands; it means that she was murdered because of her faith in Christianity. She dressed as a royal person. The background of an icon symbolizes divine essence. For example, gold – Divine light, white – cleanliness of the Christ and light of his Divine, green -

Decreasing Class Size Enhances the Performance in Elementary School Stu

Decreasing Class Size Enhances the Performance in Elementary School Students Decreasing class size enhances the performance in elementary school students. In the studies that SAGE has done, their students appeared to have â€Å"a significant achievement advantage† in all areas (Study confirms, 2001). By the end of third grade, students in smaller classes seem to read more effectively and independently (Class Size Reduction, 2001). The advantages of smaller classes are also shown between races and social backgrounds. Tennessee’s 1970 test revealed that poor and African-American students had the greatest gains in smaller classes. Especially after kindergarten, the gains were usually two times that of whites (Class Size, 2001). Not only do the students and the school benefit from smaller classes, but also so does the entire state. After being in a reduced class of twenty students for three years, California’s research showed that test scores were better than those before the classes were reduced (Viadero, 2001). For the 1996-97 schoo l-year the Walnut Creek, CA school district, reduced its kindergarten classes to twenty students and to a maximum of twenty students in grades one through three. The following is a chart that shows the improvements of the kindergarten students from the first year of being in a reduced classroom. Skills % Mastered June 1996 % Mastered June 1997 Read a Picture Book (with a few repetitive words) 25 43 Identifies Letter Names 74 79 Concepts about Print (how to hold a book) 79 94 Letter Sounds (25-26) unknown 51 Can Read 15-20 words by sight 28 62 Hear and Record 10-14 sounds in words 56 73 (Class Size Reduction, nd). (... ...eek on the Web. Retrieved October9,2001 from http://www.edweek.com/ew/ewstory.cfm?slug=32class.h20. The growing case for smaller classes (May/June 2001). American Teacher, 85(8), 2. Retrieved September 30, 2001 from OCLC First Search/Wilson Select. Huston, Deborah & Ogawa, Rodney T. (1999). California’s class reduction initiative: Differences in teacher experience and qualifications across schools. Educational Policy, 13 (5), p. 659. Retrieved December 3, 2001 from Academic Search Premier/EBSCOhost database. Study confirms value of small class size (March 2001). American Teacher, 85(6), 2. Retrieved September 30, 2001 from OCLC First Search/Wilson Select. Zahorik, John A. (September 1999). Reducing class size leads to individual instruction. Educational Leadership, 57(1), 50-3. Retrieved September 30, 2001 from OCLC First Search/Wilson Select.

Essay examples --

QUES 1: â€Å"Good communication is key to success of any organization.† Justify your statement keeping in view the communication system followed by a bank. Communication is key for success for any organisation . Directing abilities of manager mainly depend upon his communication skills. That is why organization always emphasis on improving communication skills of manager as well as employees. Therefore communication can be defined as, â€Å" the process of exchange of information between two or more persons to reach a common understanding.†Communication is important and pervasive of all managerial activities . communication involves hearing which can’t be said. Communication is what listener do.It is the most important in leading any organization is crafting a strategic vision that achieves your organization’s goals and enhances its effectiveness. Turning this aspiration into a reality means creating and sustaining a unifying sense of purpose on the part of all people within your organization and communicating this vision to your outside audiences.Without effective communication, a message can turn to error, misunderstanding and hence it is interpreted wrongly.It is a process where we can accurately and clearly convey or thoughts and objectives.Communication is successful when both the sender and receiver understand the same information.Communication of ideas establishes a common ground of understanding. Ince the management is concerned with getting the work through others, it implies the manager must communicate with other people. To take decision communication is required.Communication is an exchange of facts , ideas and viewpoints which brings about commonnwss of interest , purpose and efforts.Communication is a sum of all things one p... ...hile conveying message to others , it is better to know the interests and needs of the people with whom you are communicating. 6. Ensure proper feedback- The communicator may ensure the success of communication by asking questions regarding the message conveyed. The receiver or communication may also be encouraged to respond to communication 7. Communicate for present as well as future- Generally , communication is needed to meet the existing commitment, to maintain consistency , the communicaton should aim at future goals of the enterprise also. 8. Follow up communications –There should be regular follow up and review on the instructions given to subordinates. 9. Be a good listener- Manager should be a good listener. Patient and attentive listening solves half of problems. Managers should also give indications of their interest in listening to their subordinates.