Effect of Organisational Culture on Customer Satisfaction

Effect of Organisational Culture on Customer Satisfaction Researches by some academics have made it known that a companys culture is closely linked to its effectiveness and efficiency (Kotter Heskett, 1992). In addition, according to (Morgeson, Krishnan, 2006) customer satisfaction is an increasingly significant factor of an effective organization in todays competitive business setting. Prospects arising from increase in globalization by companies, advancement in technology, and outsourcing have meant that companies are increasingly turning their attention to laying greater emphasis on customer service across national borders in order to reduce costs, while at the same time trying to increase customer user-friendliness through day-to-day activities of the firm. ORGANISATIONAL CULTURE (Shein 1996), defined culture as: a pattern of basic assumptions that a group has invented, discovered or developed in learning to cope with its problems of external adaptation and internal integration, and that have worked well enough to be considered valid, and therefore, to be taught to new members as the correct way to perceive, think, and feel in relation to those problems. Other shared definitions by learned scholars refer to organisational culture as pattern of shared values and beliefs that help individuals understand organizational functioning and thus provide them with the norms for behavior in the organization(Deshpande and Webster 1989), a set of cognitions shared by members of a social unit (OReilly et al., 1991). According to (Laurie 2008), organisational culture is a combination of traditions, values, policies, beliefs, and attitude that establishes a general framework for everything done in an organisation. It can also refer to the form of beliefs, values, and ways of managing experience that have developed during the course of the organisations history, and becomes noticeable in its material arrangements and the behaviour of its members. (Brown 1998). (Gupta 2009), in his write up, opined that organisational culture is a set of unwritten rules meant to guide the employees towards an standardardised and rewarding behaviour. TYPES AND MODELS OF ORGANISATIONAL CULTURE In order to appreciate the incorporation of organisational culture, it is very important to examine and search for different models to improve the understanding of the concept of organizational culture. I. Scheins Three Layer Organizational Model These three layers as explained by (Shein 1996) below are stages of organisational culture that should be categorized carefully with the purpose of avoiding any theoretical misperception. Artefacts and Creations the Artefact and Creation layer is the observable stage of corporate culture, it includes the social environment. Usually researchers study the artistic productions, technological output, physical space in the artefacts and Creations stage. Values usually values symbolize the significant things for individuals, they are affective wants or needs and conscious. The existence of values is very important for the organization in order to function competently and share ideals among staff. Basic Assumptions a specific group of individuals study how to manage and handle the difficulties of internal integration and external adaptation through developing and discovering the assumptions. II. Denisons Effectiveness and Culture Model The effectiveness and culture model for (Denison 1990) represents the relationship between management, corporate culture, effectiveness and finally the performance of the organization. This model is equipped to stress the important association in management practices with the beliefs and principles when examining the effectiveness and culture of the organization and its performance. Involvement this feature includes constructing the individual ability, responsibility, duty and ownership. Corporate culture is described as highly involved strongly support participation and generate a sense of responsibility. Adaptability the adaptability feature means translating the environmental business demands into action. Consistency is the vital source of power, course, formation and integration. Mission -is the long-term trend for the corporation. According to (Laurie 2008) organisational culture can be grouped into four main classes namely power culture, role culture, task culture, and person culture. Power Culture- entirely dependent on central power source and control is excercised by key individuals. Role Culture this type of culture is characretised by bureacracy and is based on rationalisation of all aspects of the organisation with role and job description more important than the individual. Emphasis is laid on position as the main source of power. Task Culture job or project oriented. Person Culture here, the individual is the central focus and every resource available is there to serve the individuals within it. (Laurie 2008). The type of culture inherent in an organisation may be decisive for organisations ability to serve its customers effectively. For example, organisations with a culture with respect for the interest of people value their members by displaying concern for their well-being, growth, and development and lay emphasis on the need for cooperation. Such a culture is more effective than one that emphasizes power, control. (Gupta 2009) went further by suggest the existence of two levels in organisational culture; The visible aspect of the organization which he said is reflected in artifacts, symbols and visible behavior of employees, and the hidden aspect which is related to fundamental values and assumptions that employees make regarding the acceptable and unacceptable behaviors in the organisation. Organisational culture in its entirety consists of traditions, values, norms and physical signs (artefacts) of organisation members and their activities. Practically speaking, the members of an organisation will eventually come to understand the particular culture of their organisation. Then, although the culture is one of those factors that are difficult to express definitely, nevertheless everyone knows it when they sense it. Hidden rules and assumptions become an organisational culture as these rules are implemented over time. A strong culture shapes the behaviour pattern members of the organisation in the absence of policies, procedures or advice from supervisors and managers. CUSTOMER SATISFACTION Satisfaction is a general customer attitude by a consumer towards a service provider and an emotional reaction to the difference between what customers anticipate and what they receive in terms of service and or product. When customers are satisfied, they are more likely to return, while dissatisfied customers are more likely to go elsewhere (Levesque and McDougall, 1996, Zineldin, 2000). Customer satisfaction is an important constituent of a successful and thriving organization and can be directly associated to increased profit margins and greater employee satisfaction, customer retention, and repeat purchases to organisations that consider customer satisfaction a key factor in its marketing strategy. An organizations social setting-whether it is called culture or climate-is an important driver of customer satisfaction. As stated by, (Ferris et al., 1998) organizational climate can facilitate a positive relationship between human resource practices and customer satisfaction, support ing a social context model for predicting customer satisfaction. Against this background, this paper aims to explore the way organisational culture affects customer satisfaction in the automobile industry setting, based on the general perceptions of front-line employees. However, according to Darby et al.s (1997) the customer service positioning show a positive relationship with different procedures of measuring customer satisfaction, and consequently it is assumed in this paper that the degree to which front-line employees are oriented towards customer satisfaction is an revealing measure of customer satisfaction. (Schneider et al., 1998) reiterated that there are different dimensions to employees understanding of the appropriate form of organisational culture, based on whether they are managers or not. Such differences in perception are linked to their different positions within the organisation. In addition, since the front-line employees (managers) deal with more pressure, managerial demands, and are responsible for their subordinates, they will be more likely able to understand the possible effects of organisational culture on customers. RESEARCH AIMS AND OBJECTIVES After a critical analysis of the research, the following aims and objectives established for this research are: To analyse the effect of organisational culture on the effectiveness of the organisation. To study the organisational culture of Ford Motors. To understand the relationship between Ford Motors organisational culture and customer satisfaction. RESEARCH QUESTIONS Does organisational culture have any effect on customer satisfaction? What sort of corporate culture does Ford Motors possess? What is the effect of Ford Motors organisational culture on customer satisfaction? LITERATURE REVIEW: A number of academic researchers have studied various elements of organizational culture and customers satisfaction. However, only a few experimental studies have studied the link between the characteristics of an organizations work environment (organisational culture) and this important aspect of organizational effectiveness (customer satisfaction) e.g., Conrad, Brown, Harmon, 1997. Most of the studies that have observed this impact have focused on the relationship between service-oriented climates and customer satisfaction. These studies, while making a very important contribution, have lean towards emphasising on the impact of a climate for service or service climate on customer satisfaction. In doing so, they may run the risk of neglecting some general organizational characteristics that can affect a wider range of organizational outcomes. Starkey and Woodcock (2002) opined that organizations that are less customer oriented are more likely to perform poorly in terms of sales output as against those that are customer oriented. To survive in the highly competitive automobile markets, organisations need to provide products and services that will produce highly satisfied and loyal customers (Westbrook and Oliver, 1991). According to (Asif and Sargeant, 2000), several benefits accrue to the organisation via customer loyalty such as generation of profit, costs related to promotions, advertising, start-up costs are limited. More so, chances of increase in customers will be high, as satisfied customers will recommend the organisations products and services to others. As a result, customer satisfaction can be the key factor to the growth of the business, in term of market share and profit. A popular supposition about the role of organizational culture as it relates to customer satisfaction is that if an organization possesses a strong culture by demonstrating that it has a well-integrated and effective set of defined values, beliefs, and behaviors, then it will achieve a higher level of efficiency. Curry and Kkolou (2004) identify customer focus, participation, and teamwork as important cultural issues influencing customer relations outcomes. They suggested that empowering employees to excel at customer service and ensuring their job security also contribute to customer relation success. According to (Deshpandà © 1999), investigation into market orientation suggests that the existence of an innovative and entrepreneurial culture is strongly associated with exceptional business performance. Collectively, these reports suggest that an organizational culture that puts more importance on customer-oriented behaviours, cross-functional teams, performance-based rewards, adjustment and reactive attitudes to change, and a higher degree of risk taking and improvement, is likely to contribute to have successful customer relations management system implementations. Every organisation has to face the task of ascertaining the critical factors in their organisational culture that will ensure customer satisfaction and loyalty (McDougall and Levesque, 1992). For all these reasons, customers perception of the service experience is frequently the only way accurately to estimate quality level of services and product provided. Within many organizations, identifying these issues may be easy or complex depending on the type of culture involved. In either case, the development of a fitting solution is difficult and the application and maintenance on a long run complex, time-consuming and costly. However, an effective organizational culture is one of the key components influencing an organizations capacity to elicit customer satisfaction and to thrive in the long term. RESEARCH METHODOLOGY: Research methodology is basically the procedures and processes of collecting and analysing data. There are two types of research methodology positivist and interpretive. In this study, we would use positivist approach in order to collect and analyse data. According to Comte (1971), researchers that demonstrate the use of real life, data is known as positivist approach. Conversely, when researchers have a set of assumption about the outcome of the research, it is known to use interpretive approach (Malhotra 2003). As mentioned in the objectives, we aim to find the effect of organisational culture on the effectiveness of the organization and to do so, we would have to use factual data from Ford motors, and therefore, positivist approach will be used in this study. Research Strategy According to Brymen and Bell (2007:135), a researcher can follow five research strategies in conducting his research. They are: 1) longitudinal 2) experimental 3) cross sectional 4) case study and 5) comparative. For this study, case study approach will be used in order to accomplish the research objective. This is because the effect of organisational culture would be analysed in this research in order to figure out its effect on the customer relations of the company. Research Approach A set of methods researchers use in order to achieve the concluding remark on the research objective of the subject matter is known as research approach. According to Saunders (2003), there are two types of research approaches available to conduct a research and they are Inductive and deductive approach Deductive approach is mostly used when researchers needs to find a causal relationship between the variables while inductive approach is a widely used method for qualitative researches. Since the primary aim of this research is to find out the effect of organisational culture on customer satisfaction, the researcher will employ inductive approach for the research. RESEARCH METHOD: Different types of primary and secondary sources would be used in order to collect data regarding organizational culture and customer satisfaction. Primary Data is the vital data gathered by researchers via interviews, surveys or questionnaires (Anderson 2005). In this report, interviews and questionnaire will be used to provide the study a better understanding of corporate culture and the financial performance from all level of employees. The source that will be used in primary data is a survey and separate interview sessions with managers, executives and even temporary employees in Ford Motors. Secondary Data: Secondary data will be collected through researchers who are conducting the research. This data will be sourced from many departments and the web site in Zain Company, along with published and academic journals, articles, books, online resources and many other data from previous authors. Interviews: Interview is one of the most effective ways of conducting qualitative research. In this study, interviewing method will acquire a clear knowledge about the organisational culture of Ford Motors. There are many types of interviews such as structured, semi structured, focused group, in depth and so on. In this study, semi structured interview will be used since it is well known method to clear the doubts and misunderstandings that might arise from the interviews. It should be mentioned here that the primary feature of semi structured interview is flexibility from both interviewees and interviewers side. ANTICIPATED METHOD OF ANALYSIS AND FINDINGS: Data Analyses This study will involve both qualitative and quantitative data analysis techniques in order to establish its objectives. A qualitative approach will be used while in order to demonstrate the relationship between organisational culture and overall performance of the company. Conversely, quantitative approach will be adopted to create a relationship between organisational culture and customer satisfaction. CONCLUSION: This research will focus on the organisational culture factors inherent in Ford Motors and the individual effects these factors have on customer satisfaction.

Principles of Decision Making Essay

â€Å"Our economy is the result of millions of decisions we all make every day about producing, earning, saving, investing, and spending† by Dwight Eisenhower (UBR, Inc. , 2007). What are the principles behind an individual’s decision making? According to Mankiw, the four principles of individual decision making are as follows: â€Å"people face trade-offs, the cost of something is what you give up to get it, rational people think at the margin, and people respond to incentives. † People face trade-offs by having to give up something to get what they want or need. This is no surprise for most people who learn early in life that few things are free. A trade off is when you put more into one and less in the other. As an example of a trade-off, many times college students give up spending time with their families and friends in order to do homework and accomplish their long-term goal of earning a degree. Because of â€Å"trade-offs, making decisions require comparing the costs and benefits of alternative courses of action† (Mankiw, 2007, p. 6). The cost of something is what you give up to get it. This clearly emphasizes that there are always costs to every decision that we make. These are what we called opportunity costs. An opportunity cost is what we have to give up to gain something else. It does not always have to be about financial matters but also situational issues. If individuals make the decision to return to school, they not only have a cost of monetary impact on life but also a cost of time because they have chosen to study over their alternatives of working or socializing. Rational people think at margin. A rational decision maker â€Å"takes an action if and only if the marginal benefit of the action exceeds the marginal cost† (Mankiw, 2007, p. ). Economic decision makers act in a rational manner. This means that decision makers prioritize the end results of their actions. They decide based on their wants and needs. â€Å"Rational people systematically are purposefully do the best they can to achieve their objectives, given the opportunities they have† (Mankiw, 2007). According to Mankiw, marginal changes are just slight adjustments to what is already being done by comparing the marginal cost and marginal benefit of something. This could be an individual going to the store to buy sugar. If the store has two brands of the same size that are of different prices, a person will buy the least expensive because there is no benefit to purchasing the more expensive sugar. Also, if a person desired to achieve higher grades, it is most likely that he would spend longer hours studying and reviewing his/her course. Also, if there were two competing companies, one offering a large compensation with benefits, the other lacking resources to render incentives, it is assumed that the applicant would prioritize the more productive company. In deciding what is profitable in any economic situation, a decision maker has to assess the costs and benefits of any specific course of action. An example of a decision comparing the marginal benefit and the marginal cost associated with that decision occurs when purchasing a marked-up, last minute cruise line ticket for a very important business transaction. The other alternatives are to either drive a car, ride on a plane or wait seven days to pay a much lower fee. The marginal benefits of less travel time, increased comfort and being able to meet the deadline on time all outweighed the marginal cost of the increased fee. The decision made was based on personal incentives and satisfaction. Of course, if the cruise line ticket fee had been higher than traveling by car, I would have chosen driving to have more vacation time and be able to reduce cost. Truly, marginal benefit and marginal cost help in making financial decisions. Our personal budgeting skills will improve as we measure the costs of a financial decision. We will also consider the affordability of the products and services. The principles of economics affect decision making, interaction, and the workings of the economy as a whole because all people make decisions based on what they want and is best for them personally. For instance, the marginal costs and benefits are a vital part of economics because they help provide the relevant measurement of costs and benefits at a specific level of production and consumption. Even if we do not realize it, we all make decisions based on our marginal evaluations of the alternatives. Like in buying a car, we consider not only affordability but also convenience. Economics plays a very significant role in many different aspects of people’s lives. Every decision people make from how much they work, spend, save, and invest plays a role on their economy. Economics is something people use in a daily basis without even realizing it. Applying the said principles in decision making will allow us to plan and organize our goals in a rational and distinct manner. Knowing the cost of doing something will bring us awareness and make us more cautious as we implement our plans. It enables us to identify the trials and hardships that we have to face before reaching our goals. Exploring more about trade-offs brings us to the reality that in every aspect of our life, we have to consider giving up something before achieving what we really want. For example, big or small businesses have to consider the trade-offs in order to gain higher profitability. That is why some companies decrease manpower to reduce cost. On the other hand, doing this means depriving many workers the opportunity to earn for their families. The principles of economic decision making widens our perspective and guides us in implementing productive ideas.

Eating Disorders Anorexia Nervosa - 1699 Words

In society today, eating disorders are rapidly gaining attention due to high fashion and tabloid glorification of it. The three main eating disorders are anorexia nervosa, bulimia nervosa, and binge eating. Each of these are disorders are extremely dangerous and can lead to not only physical problems, but psychological problems as well. The physical problems associated with these disorders can extend in their severity to the point of death. Eating disorders are more commonly seen in females, but men can suffer from them as well. Except for binge eating, this in terms of statistics is seen equally in men and women. There are varied treatment options for these disorders, including specialized hospitals, medication, psychotherapy, nutrition education and support groups. Eating disorders do not only take a great toll on the sufferer, but also on friends and family who surround that individual. Anorexia nervosa stands apart from the other two eating disorders aforementioned in the sense that this disorder is not solely about the food, but more so, an unhealthy way that an individual copes with emotional problems (Medline,2014). Each of the three eating disorders mentioned presents itself with different symptoms and causes. The DSM-IV criterion for (AN) is as follows: A. Refusal to maintain body weight at or above a minimally normal weight for age and height. B. Intense fear of gaining weight or becoming fat, even though underweight. C. Disturbance in the way in which one’sShow MoreRelatedEating Disorder : Anorexia Nervosa1622 Words   |  7 Pages Bulimia Nervosa To be diagnosed with eating disorder, someone must meet certain criteria. The criterion for diagnosis slightly varies depending on if you are referring to people who (A) fear gaining weight, and have significant weight loss,(B) eating a huge amount of food , then use laxative to remove the binged food, (C) the use of excessive exercise and fasting in order to remove or to reduce the amount of calories consumed, and (D) distorted body image, no matter how thin they become, theyRead MoreEating Disorder : Anorexia Nervosa1658 Words   |  7 Pagesbeen affected by this disorder. The specific disorder that is being referred to in this paper, an eating disorder, is Anorexia Nervosa, the restricting type. An eating disorder â€Å"involve[s] disordered eating behaviors and maladaptive ways of controlling body weight† (Nevid, Rathus, Greene, 2014, p. 335). Another well-known eating disorder is Bulimia Nervosa which is characterized by binging and purging (Nevid, Rathus, Greene, 2014, p. 338). Bulimia is different than anorexia since victims of bulimiaRead MoreEating Disorders And Anorexia Nervosa Essay1948 Words   |  8 Pagesnotion of an â€Å"ideal† body and eating disorders, there is no consensus as to the root cause of eating disorders. The general belief is that eating disorders result from one or more biological, behavioral, and social factors including genetics, unpleasant experiences/trauma, peer pressure, teasing, and family members with eating disorders, among others. There are numerous types of eating disorders. Both women and men are affected by eating disorders each day. Eating disorders can occur from an early ageRead MoreEating Disorders : Anorexia Nervosa1493 Words   |  6 PagesIllness Paper – Anorexia Nervosa February 28, 2016 According to the Mayo Clinic (2016), eating disorders are â€Å"conditions related to persistent eating behaviors that negatively impact your health, your emotions, and your ability to function in important areas of life.† One such eating disorder is anorexia nervosa. Not to be confused with anorexia, which is simply a general loss of appetite that can be attributed to many medical ailments, anorexia nervosa is a serious eating disorder and mental illnessRead MoreEating Disorders: Anorexia Nervosa1653 Words   |  7 PagesAnorexia Nervosa Anorexia Nervosa is one of several subtypes descending from feeding and eating disorders. It is a crippling life-threatening condition marked by a patient placing restriction on energy intake relative to needed energy requirements, resulting in a relentless pursuit of low body weight in the context of age, sex, development and physical health. According to American Psychiatric Publishing of diagnostic and statistical manual of mental disorders (DSM-5) â€Å"Anorexia Nervosa, often timesRead MoreEating Disorders And Anorexia Nervosa947 Words   |  4 PagesEating disorders such as anorexia nervosa, bulimia nervosa, and binge eating disorder consist of emotions, attitudes, and behaviors surrounding weight and food issues. Up to 24 million people of all ages and genders suffer from an eating disorder in the U.S (ANAD, n.d.) bulimia nervosa as well as the other eating disorders are considered to be a female eating disorder, a disorder that only affects women which limits males to seek treatment let alone make aware to other that they suffer from bulimiaRead MoreEating Disorders : Anorexia Nervosa974 Words   |  4 PagesI have always been intrigued with eating disorders, particularly Anorexia Nervosa. When I was 18 years of age, my mother questioned whether or not I was Anorexic and she took me to the family practitioner, who then informed me that I was three pounds shy from being considered underweight. I knew I was thin, but I was really thin, but also really proud of my size. In an African American urban environment being thin was related to illness and drug abuse. I was often teased about how thin and fragileRead MoreEating Disorders : Anorexia Nervosa889 Words   |  4 PagesANAD Eating Disorder Statistics about thirty million people in America of all ages and genders suffer from one of the three main eating disorders. Many people suffer from more than one of the eating disorders. Only 1 in 10 individuals receive the treatment that is needed to recover(AND A). Often eating disorders are known to be triggered by outside factors in their life, but studies show that it is more likely to be a part of their genetics. According to Webster the definition of an â€Å"Eating Disorder†Read MoreAnorexia Nervosa- Eating Disorder1685 Words   |  7 PagesEffects of anorexia are mostly seen on the outside of the victim’s body, but do not be fooled. This detrimental eating disorder affects one’s mind just as much as it would the body. What Anorexia does to the mind is that it distorts the way one views their body. Victims of anorexia become fixated on their body image and overly critical about their flaws and weight. Even being obviously underweight, Anorexics will continuously deny that they have a problem and continue with their fatal practices.Read MoreEating Disorders : Anorexia Nervosa1462 Words   |  6 Pagessuffer from many illnesses, one in particular is eating disorders. There are many types of eating disorders, but there are three common ones that are known today, which are anorexia nervosa, bulimia nervosa, and binge-eating disorder. Eating disorders are not healthy, thi s type of disease can be very fatal and crucial to one s health   mentally, physically, and socially. The purpose of this report is to provide background information about eating disorders, strategies to prevent this illness from occurring

Alzheimers Disease Essay - 2087 Words

Alzheimer’s disease (AD), a form of degenerative, fatal dementia, is characterized by progressive cognitive decline. While AD is the most common form of dementia, its prevalence has only recently been recognized. When Alois Alzheimer first described the sequence of changes in 1907, physicians believed the disease to be an extremely rare, mid-life condition. It wasn’t until the 1970’s that the same types of changes were shown to occur in both late- and early-onset forms (Cavanaugh et.al. 2008). As such, almost all knowledge of AD has been learned within the past several decades, with new discoveries being reported almost daily. It is now estimated that Alzheimer’s accounts for as many as 60% of all dementias and affects more than 500,000†¦show more content†¦In neurofibrillary tangles, axons become twisted to form paired, helical filaments (PHFs) (Scheibel 1996). The PHFs are predominantly composed of the protein tau, a microtubule-associated prote in (Forsyth and Ritzline 1998). Normal tau protein promotes axonal integrity and transport by playing an important role in the assembly of microtubules throughout the nervous system. The gene responsible for tau synthesis is subject to alternative splicing and as a result, six isoforms of tau are found in the human brain (Buee et.al. 2000). These isoforms vary in their state of phosphorylation, altering the proteins’ binding affinity for microtubules. As observed in the neurofibrillary tangles of AD, pathological tau is hyperphosphorylated. Research suggests that this abnormal phosphorylation state is attributable to an imbalance in the regulation of tau kinases and phosphatases: either over-activity of kinase in the brain tissue or inactivity of the corresponding phosphatases (Drewes et.al. 1992). Hyperphosphorylation of tau initiates destabilization of microtubules, irregular axonal transmission, and ultimately, neuronal death (Figure 1). While some degree of tangling is a normative sign of aging, large concentrations of neurofibrillary tangles are well correlated with dementia and Alzheimer’s disease (Munoz 2000). ÃŽ ²-Amyloid (AÃŽ ²) is a 39-42 amino acid polypeptide formed from cleavage of aShow MoreRelatedAlzheimers Disease945 Words   |  4 PagesAlzheimer’s Disease Alzheimer’s Disease is a progressive neurological disease; it often attacks the brain tissues causing memory loss of one’s identity and regular behaviors. Statistics indicates that the rate of predicted people to get Alzheimer’s will increase briskly as time goes on. There are currently no cures for such disastrous disease, but there are currently approved treatments available that can help people within the early stages of Alzheimer’s. Once the disease is too far alongRead MoreAlzheimers Disease3170 Words   |  13 PagesThe Role of Caregiving to Patients with Alzheimer’s Disease Megan Zann April 27, 2012 Health Psychology Dr. Ackerman Introduction It is normal to periodically forget your keys or a homework assignment, because you generally remember these things later. However, individuals who suffer from Alzheimer’s disease may forget things more often, but they do not remember them again. The incidence of Alzheimer’s disease has dramatically increased because people are living longer. This is a result ofRead MoreEssay on Alzheimers Disease1503 Words   |  7 Pagesâ€Å"Alzheimer’s disease is a form of dementia that gets worse over time. It leads to nerve cell death, and tissue loss throughout the brain. Over time, the brain shrinks dramatically, affecting nearly all its functions. It gradually destroys a persons memory and ability to learn and carry out daily activities such as talking, eating, and going to the bathroom† (What Is Alzheimer’s). Early symptoms include personality changes, memory impairment, problems with language, decision-making ability, judgmentRead MoreAlzheimers Dis ease Essay2414 Words   |  10 PagesAlzheimers Disease Alzheimer’s disease is the disease of the century. This disease is affecting many lives, families, and caregivers. This research presented is to help educate on the topic of Alzheimer’s disease, which many people aren’t aware enough about. Statistics are given to show how extreme this disease is, and how many people it’s affecting in society. Also statistics are presented that give the amount of money being spent relating to Alzheimer’s disease. This research explainsRead MoreAlzheimer’s Disease Essay2544 Words   |  11 PagesAlzheimer’s disease defined: Alzheimer’s disease (AD) is a progressive, terminal, degenerative brain disease. It is the fourth leading cause of death in adults and currently affects over four million people in the United States. This number is expected to increase over the next several years as the baby boomers age, until it reaches fourteen million by the year 2025. Alzheimer disease generally occurs in people over seventy five years of age; however it does strike people in their forties, fiftiesRead MoreEssay on Alzheimers Disease2405 Words   |  10 PagesAlzheimers Disease is a condition that affects 50% of the population over the age of eighty five, which equals four million Americans each year. It is becoming an important and high-profile issue in todays society for everyone. There are rapid advancements being made in the fight against this disease now more than ever, and the purpose of this essay is to educate the public on the background as well as the new discoveries. There are many new drugs that are being tested and studied every day whichRead MoreEssay on Alzheimers Disease813 Words   |  4 Pagesï » ¿Topic: Alzheimer’s Disease Specific Purpose: To help my audience understand what Alzheimer’s Disease is. Thesis Statement: The need to educate people on Alzheimer’s Disease for family members or friends in-case a loved one is diagnosed. Introduction: A. What would one do if their family member or friend knew of someone who was diagnosed with Alzheimer’s Disease? What would they do to help or take care of this family member? Well, I work in a nursing home with the elderly with this diseaseRead MoreAlzheimers Disease Essay2168 Words   |  9 PagesAlzheimer’s disease or AD is an incurable disorder of the brain that results in loss of normal brain structure and function. In an AD brain, normal brain tissue is slowly replaced by structures called plaques and neurofibrillary tangles. The plaques represent a naturally occurring sticky protein called beta amyloid and in an Alzheimer’s brain, sufferer’s tend to accumulate too much of this protein. Neurofibrillary tangles represent collapsed tau proteins which, in a normal brain along with microtubulesRead MoreEssay on Alzheimers Disease 512 Words   |  3 Pagesmajor medical advancements like the world has never seen before, some diseases still continue t o plague the human race and confuse even some of the brightest scientists today. Unfortunately, Alzheimer Disease (AD) is one of them and it affects between 2.4 and 4.5 million people in America. Alzheimer’s is usually diagnosed in people over the age of 65, but in rarer cases people as young as 16 have it. Since it is a degenerative disease, patients develop it with few symptoms at an earlier stage, but thenRead More Alzheimer’s Disease Essay1176 Words   |  5 PagesAlzheimer’s Disease Alzheimer’s Disease is a disease of the future. With the growing aged population, this disease, which affects primarily the elderly, will become of increasing relevance to the medical profession. Also, the high frequency of Alzheimer’s, and the high cost in labor, money, and material of caring for its victims shall put considerable burden on the society as a whole. Here, however, these issues are not going to be debated. Instead the pathology of Alzheimer’s will be reviewed

Essay about Buddhist Religion Experience Personal Narrative

I was always fascinated in the Buddhist religion and this class assignment was a great opportunity for me to take advantage of my curiosity. I decided I would visit a Buddhist center. With the company of my mother, I went to the Diamond Way Buddhist Center in Miami. According to my interview with the Buddhist that instructed the meditation service, every Monday and Friday they have a meditation service for the 16th Karmapa meditation from 8:00pm to 8:30pm. This center is part of the Karma Kagyu lineage of Tibetan Buddhism (Anonymous). Upon arriving, I realized that it was in someone’s home. Many Buddhist offer their homes for Buddhist centers and are unpaid for their services. However, they do accept donations. Before entering the house,†¦show more content†¦The Buddhist instructor informed us that Buddha was just a title given to those that reached enlightenment. He also clarified that the statue in the center was of Chenrezig Buddha. Chenrezig Buddha is known as the Buddha of compassion. Under that statue was the Vajrapani statue, which is the protector of Buddha. This statue looks very fierce in nature in order to show the strength and power of Buddha. To the right was the picture of the founder of Diamond Way Buddhism centers, Lama Ole Nydahl, and the founder’s wife who had passed away. The instructor explained to us that Nydahl was a very inspirational and motivational Buddhist who was currently on tour all over the world for Buddhist teaching purposes (Anonymous). We waited a little while to see if others would arrive to the service since it had just been me and my mother present at this service. The instructor explained to us that Monday nights were not as popular as Friday nights. After 15 minutes where no one arrived, the instructor decided to commence the service. Being the only two at the service was quite beneficial because we got one on one attention from the Buddhist instructors, which gave us more time for questions. Before we began our meditation, I informed the Buddhist teacher that I was there for a religious studies course assignment. He then gave me a quick review on Buddhism and Buddhist practices. He explained to me that Buddhist don’t find Buddhism to be a religion because they doShow MoreRelatedBuddhism and the seven dimensions2538 Words   |  11 Pagesinstitutionalised religions. In order to gain an understanding of the word religion, we need to fully analyse and compare the components of religions in order to gain a more cultivated understanding of this enigmatic term. An extremely valuable way of classifying religion and its many aspects is through the Seven Dimensions, developed by Ninian Smart. (See Appendix 1) These dimensions explore the many aspects of religion in a systematic and logical way. 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Assess Contribution of Ngos to the Community Free Essays

string(210) " the major problem facing the societies that means they are characterized with endless lack of the resources, choices, security and power necessary for the enjoyment of the living standard \(Maccihato, 2009\)\." Introduction This chapter introduces the background of the problem, objective of the study, statement of the problem, research questions and significant of the study. 1. 0 Background of the Studies According to World bank, NGO’s are defined as private organizations that pursue activities to relieves suffering, promote the interest of the poor, protect the environment, provides basic social services, or undertake community developments( World Bank criteria defining NGO,2007). We will write a custom essay sample on Assess Contribution of Ngos to the Community or any similar topic only for you Order Now Historically, Non-Governmental Organization at international level have a history dating back to at least 1839. It have been estimated that by 1914 there were 1098 NGO’s. The international Ngo’s were important in the anti slavery movement and the movement of women suffrage, and reached peak at the time of world disarmament conference. Non Governmental Organization only comes into popular use with the establishment of United Nation Organization in 1994 with the provisions in the article 71 of chapter 10 of the United Nations chapter for consultative role of organizations which are neither government nor member state. Davis, 2007). The vital role of NGOs in sustainable development was recognized in the chapter 27 of agenda 21 in the UN conference, In the 20th century during the establishment of globalization the importance of NGO’s was recognized, where many problems could not be solved within a nation, Hence NGO’s have developed to emphasize Humanitarian issues, development aids and sustainable development (Howell, 2000). According to World Bank, There two purposes o f NGO are operational and advocacy . Operational is the primary purpose of NGO’s . Primary purpose of NGO’s to design the implementation of development related projects, Example Community Based Organization. The primary purpose of Advocacy NGO’s is to defend or promote a specific cause. As opposed to operational project management, these organizations typically try to raise awareness, acceptance and knowledge by lobbying press work and activist event (Wikipedia, 2011). Non Government Organization has been an engine towards improving the living standard of the people, since not all the problem could be solved within the nation tracing back the Tanzanian history, since 1961, Tanzania has been at war against three development enemies such as ignorance, poverty and diseases. However in 1996 the overall policy has included special forms of poverty reduction in additions to measures to sustain sound macro economic levels (URT, 2007). The progress of minimizing three enemies is mixed, towards achieving development of the community. Indicators in measuring development are range, others show sign of improvement, and others remain the same while others get worse. Many disparities still exist such as gap between the poor and rich, the bridge between urban and rural, female and male, able and disabled. It is also clear that children, youth, and the elderly and people with disabilities have their own problem especially poverty that all problems are felt at different extent in different parts of the country, Hence Low living standard is inevitable (chambers, 1983). One of the indicators of the standard of living is health. In 1990, the health situation in Tanzania was mixed. Diseases like tuberculosis among elderly, youth, youth and children increased, The availability of drugs were scarce, many people in rural areas were have to travel to distance for the health facilities and get many drugs were very expensive for the poor to afford. For stance 90% of the children’s’ deaths in local communities and some urban areas are due to preventable causes (National Strategy of Growth and Reduction of Poverty, 2005). Education is also among the major aspect of living standard of the community. Several tactics, programs, have been enrolled in the improvement of education situation in Tanzania. Despite the improvement of enrollment in education considerably in the last five years in 2004, as the results of primary education development Program(PESP), still many problems and challenges are inevitable, such as shortage of text books desks, chairs, teachers, latrines holes and teachers houses remarkably wanted in primary schools, especially in rural areas. Moreover the edges of poverty torn the education situation in Tanzania. in most student in Rural areas passes primary education but there were no room to accommodate them. Also, others lack school uniforms and tuition fees due to hardship of the economy that parents are facing. NSGRP, 2005). Living standard of Tanzanian and African at large depends on agriculture as the economy backborn. 45% of Agriculture contributes in the GDP and 60% of the of the export earnings in the year. Still the living standard of many people are low, since they produce for consumption and practice poor farming methods that result to low harvest (N SGRP,2005). Non Government Organizations play vital remarkable roles in improving the living standard of people among the local communities in Tanzania. NGO’s are involved in a very diverse range of human activities and human influence on the environment. These strata of societies they are involved at, children and youth, conflict resolution, education, health and nutrition, human rights and relief services. (Wikipedia, 2011). The effectiveness of Non government Organization in improving the living standard of people has been achieved at some extent. In a case of Moshono, in Arusha, the international organization called World Vision, Intervene in that society with efforts to eradicate poverty and bring about good living standard among the people in the society The intervention of WV in the Moshono ADP has brought positive impact toward the society. Through ADP many project such as water projects, education projects, environmental projects and agriculture projects(including livestock arming and beekeeping) are undertaken so as to solve socio-economic problems in Moshono, and hence improve their living standards at large extent. Before intervention World vision as any NGO, observe the political admistration of the area, population size, poverty, socio-economic available, commitment of the local leaders . World vision use sustainable livelihood approach ( Moshono ADP, 2007). 2. 0 Statement of the problem The effectiveness of NGOs in improving the living standard of local communities has brought a significance results to various communities towards poverty alleviation. Poverty is the major problem facing the societies that means they are characterized with endless lack of the resources, choices, security and power necessary for the enjoyment of the living standard (Maccihato, 2009). You read "Assess Contribution of Ngos to the Community" in category "Papers" The World Bank notes that â€Å"the incidence of poverty in the world is higher than past estimates have suggested that 1. 4 billion people live under poverty line. In Sub Saharan African Growth and Economic performances over the past two decade have been described in recent scholarly writings as â€Å"tragic† (The World Bank Economic review, 2000). There are various ways which will help to reduce and eradicate poverty improve the living standard of the people such as support provision of social services, example education, water, infrastructure mobilization of people for collective action such as development projects, provision of soft loans to individuals through Non Government Organizations, Particularly in the case of Moshono ADP under World Vision is concerned with the improvement f local community living standard through its various projects such as water supply project, primary school classrooms construction, health care projects, have been established to eradicate poverty in the area and the life of many have been improved (Moshono ADP, 2010). In this context there are various things which will be examined to measure effectiveness of NGO’s in improving the living standard of people. The crucial aspect will be identifying how NGO are supporting local community, where there are various measures done by NGO to contribute towards alleviation of poverty such as reduced illiteracy rate, improved farm fertility, improved supply of safe and clean water, improved health services, increased individual and household income. ( Moshono ADP, 2007). 3. 0 Objectives of Studies 3. 1 General Objective To assess the contribution of NGO in improving the living standard of the local communities. 3. 2 Specific Objectives 1. To identify how NGO’s are supporting community welfare. 2. To find out how the assistance provided to the local communities has positively affected their living condition. 3. Challenges that NGO’s face in improving the living standard of the people. 4. 0 Research Question 1. What support does NGO provided Moshono ADP? 2. To what extent does the Moshono ADP contributes in changing the living standard of local communities? 3. What are the problems faced by the NGO in improving the living standard of Moshono people at Moshono ADP? 5. Significance of the Study 1. The study will be resourcefully to the areas of development program as it will provide data and various relevant information and improving social and economic activities for sustainable development and effective intervention. 2. Also, the study will be instrumental to policy maker’s institution, economic planners and other NGOs with mission of improving the economic and social status of the local communities because it will act as a self evaluation instrument. CHAPTER TWO 6. 0 Literature review Introduction This chapter shows contribution of different authors and documents on the research topic. It emphasizes the views, theories principles and polices given out by individuals’ organizations, agencies, the government and group on the research topic. 6. 1 Theoretical Review Non Government Organization play a vital role to promote the living standard of the local communities, the major important of the NGO’s increases â€Å"social capital† by providing people with opportunities to build trust in each other and capacity to work together towards common goal. NGO’s promote pluralism, diversity, and tolerance in society while protecting and strengthening cultural ethics, religious, linguistic and other identities. Moreover, NGO’s advances science and thought develop culture and arts develop culture and arts, protect environment and support activities concerning civil societies, NGO’s is a facilitator of citizen through it advocacy and operational mission as classified with World Bank (ICE, 2002). NGO’s mainly are doing to encourage socio-economic development and the community at large in less developed countries particularly in Tanzania (UN human Development report, 2000). There are various indicators that an organization may be labeled an NGO if it ha four characteristics identified by the commonwealth foundation, a London based NGO group. These characteristics are the guidelines for the good practices of NGO’s. These characteristics includes Voluntary membership, independent and autonomy where NGO’s are independent within the laws of society and owned by the members and controlled by board elected from members, Non-for-profit, NGO’s are not for private personal gains, but NGO’s may involve in income generating activities for pursuing organization mission. Another indicator for the good performance NGO’s should not self-serving in aims and related value, The aims of NGO’s is to improve the circumstances and prospects of people and to act on concern on issues detrimental to wellbeing and peoples prosperity (Commonwealth Foundation, 1995). NGO’s have indirect and direct relationship in the content of poverty. This is because of the purposes of the NGO’s and their nature to fight against poverty. According to the president of the Egypt where he rgue that NGO’s have rendered a great efforts in poverty eradication not only in Egypt but also in sub Saharan nations, He further stated â€Å"There can be hope only for society which act as one big family and not as many separate one† ( Sadat 1981). NGO’s provides humanitarian aids example food during natural calamities all over the world, protects children and youth, conflict resolution, education, environmental, human rights, relief services (Wik ipedia,2010). In the context of poverty an NGO, example World Vision a case of Moshono ADP, this organization has rendered great significant efforts in improving the living standard of Moshono people through the provision of clean and safe water, improve health situation, cars for orphans, Build classrooms and hospitals, this contributes a lot to poverty alleviation. (Moshono ADP). Standard of Living is a level of material comfort that an individual or group aspires to or may achieve. Standard of living is measured by various indicators, Example life expectance, access to nutrition foods, safe and clean water supply, and availability of medical assistances. (Britannica Concise Encyclopedia, 2000). 6. 2 Empirical Review According to Anup (2001) in his research on â€Å"poverty facts and stats on Global issues†22,000 children die each day die to poverty and they die quietly in some of the poorest villages on earth, far removed from the scrutiny and the concise of the world. Being weak and weak in life make this dying multitudes even more invisible in death. Around 27-28 percent of all children in developing countries are estimated to be underweight or stunned. The two regions that accounts for deficit are South Asia and Sub –Saharan African. If the current trends continue the millennium Development Goals (MDG’s) target having the proportional of underweight children will be mused by 30 million children. Largely because or low progress in Southern Asia and Sub-Saharan Africa. According to Sachs(2005) ,UN project on the research â€Å"Ending African’s poverty trap†, The thirty three Sub- Saharan countries on which this study focuses had a combine population of 617 million in 2001 with the population heightened average annual income of $271 per person or a mere 74 percent a day. Every county in Sub-Saharan is a low income country according to world bank country classification, At least only four countries (Angola, Cameroon, and Congo) with income per capital $500 because their oil exporters and only cote d’ ivory which is currently vertiginous political nd economic crisis, is a non oil exporter. Sub-Sahara countries have a life expectancy at birth below 60 years and in all but Ghana. Madagascar and Sudan life expectancy at birth is below 55 years. Child mortality rates (Death before the age of five (5) per 1000 live births) are above in every Sub-Saharan countries. According to (Mbelle, 2003) in their research on poverty alleviation (sc hool enrollment performances and access to education in Tanzania) the decision to invest in education is guided by cost benefit consideration. At the Micro level the question whether education contributes to economic growth and how this contribution of physical capital becomes a paramount importance. Demand fof education by individual and household needs to be sustained at high level if access is to improve. This can be achieved through empowering individuals and households economically. Maintaining macro economic stability and perusing pro-poor expenditure are keys in reducing the general level of raising the level of demand for education at both individual and household level. The gap is identified on where the NGO’s operating in local communities found to face various problems that can possibly hinder their efficiency and effectiveness in supporting local development. It is doubtful, however other studies shows that the NGO’s have a lot to contributes in eradicating poverty, in local communities. Basing on such theoretical contradiction makes the need to go through findings and analyzing the facts on the extent to which NGO’s have been supportive agent to the local are as development and eradicating poverty in the area they operates. CHAPTER THREE 7. Research methodology 7. 1 Research Design Is the logic that link the data to be collected (and the conclusion to be drawn) to the initial question of a study. Research design addresses the planning of scientific enquiry that is, designing a strategy for finding out something (Kothari, 2004). The descriptive study will be employed to portray accurate information since the research is conce rned with issues related to social development studies. 2. Description of the Study Area. This study will be done in Arusha Region with a case study of Moshono ADP in Arumeru district council. The economic activities in Moshono ADP are mainly farming and livestock. This is the sample for the Non governmental Organizations in assessing their effectiveness in improving the living standard of the local communities in Tanzania. Therefore, From Moshono ADP enough information can be accumulated which will represent the whole population.. 7. 3 Data Collection The data will be collected by using different instrument/methods. There will be both primary and secondary data collection (document review) primary information shall be collected by using interviews, questionnaires and observations. 1. Type of Data. Both primary and secondary data will be collected from the field. Where by the primary data will be obtained from respondent directly though questionnaire and interviews as well as observation while Secondary data will be obtained from documents that contains relevant information about the study. 2. Sources of Data. Both primary and secondary data will be used as sources of data in this study. 7. 3. 2. 1 Primary Data These are new data which will be gathered to help solving the problem at hand the researcher will collect primary data from selected respondents from different groups in the entire community. Interviews, questionnaire and observation will be used to obtain primary data at Moshono ADP. 7. 3. 2. 2 Secondary Data These are data that has already existed some where; this involves reviewing of literature and documentation, document such as livelihood, gender, poverty, and social services journals and reports for the purpose of findings tangible information about the issues of living standard of local community in Tanzania and suggests possible solution for that problem. 3. Techniques of Data Collection The following techniques will be applied in this study 7. 3. 3. 1 Interview, This method will involve the prepared questions that a researcher administers through face to face interrogations with respondents. The researcher shall record all conversation in the interview. 7. 3. 3. 2 Questionnaire This popular method will be employed for data collection. Questionnaire will be open and closed. The researcher should use this tool to the key respondents like Moshono ADP Staffs, Community Leader and Community Member. 7. 3. 3. 3 Observation The resercher will use this technique of data collection. The researcher shall directly ask questions to the respondents and make physical observation of the environment. Through observation the researcher will be able to observe some of the causes, effects and measures taken by different stakeholders towards solving this problem in the study areas. 3. Sampling. Sampling is a part of statistical practice concerned with the selection of an unbiased or random subset of individual intended to yield some knowledge about population. Sample type which will be used is descriptive random sampling in order to give an equal chance to every selected sample element. Under this sampling both probability and non-probability method will be used. 1. Sampling Frame/Population Sampling frame is a list which consists of all sample units. Sample frame consist of a list of items from which sample is drown (Kothari. R, 2003) generally sample frame consist of name of respondents, total number of respondents and the sample size in percentage. Sample frame, therefore the total sample size will be 50 respondents from this units sample size will be (6) Moshono ADP staff, (2) WEOs (4) VEOs, (20) Community members (6) Teachers (6) Health worker (6) P/school student 2. Sample Size The sample will be drawn from 14 wards of Moshono division in which Moshono ADP operate the researcher select three ward randomly namely Moshono, Mlangarini and Bwawani. The sample size will be 50 respondents from different level on the community. The category and numbers of respondents who will be interviewed in this research is shown in the table 1, below. Table 1. Sample Size Distribution NO |CATEGORY |NUMBEROF RESPONDENTS |PARCENTAGES (%) | | |OF RESPONDENTS | | | |1 |WEOs |2 |4 | |2 |VEOs |4 |8 | |3 |Community Members |20 |40 | |4 |Teachers |6 |12 | |5 |Health worker |6 |12 | |6 |ADP staff |6 |12 | |6 |P/School students |6 |12 | | |TOTAL |50 |100 | Source: Researcher’s own manipulation 7. 4. 3 Sampling Techniques In order to collect and acquire enough data and information from different respondents the researcher will use various techniques to capture enough information from the respondents. The researcher will use a purposive technique of sampling though random sampling technique. 5. Data Analysis Techniques The researcher will use the different techniques to analysis and manage the data such as quantitative and qualitative analysis techniques . Also the data will be presented by using of matrices, percentages, and flow diagrams. Reference: Anidah Maccahato (2001) Book in Research Relevance Poverty. )University of Mandanao. Chamber (1983) Rural Development Putting the last first, Longman Inc. New york Chronic Poverty Report (2005) [http://www. chronicpoverty. rg/page/vulnerability-cprc-s-work] Commonwealth foundation (1995), Non Governmental Organization, Guidelines for Good policy and practice [www. peacecorpsvolonteers. org. com] Community Development Journal an Inter. Form VOL. 31 (2002) [www. undp. org] Davies, Thomas Richard (2007). The Possibilities of Transnational Activism: the Campaign for Disarmament between the Two World Wars. ISBN  978 9004162 58 7, [Http://enwikipedia. org/wiki/non-governmentorgarnization. au] Jude, Howell and Jenny Peace (2000) new roles and relevance; Develop NGO’s and the challenges. Kumarian Press Kothari C. R (2004), Research Methodology, Methods and techniques 2nd edition, New Age International publication. Moshono ADP, Annual Reports, 2006. NSRGP, (July, 2005)Growing out of poverty By Haki Kazi and Catalyst, Tanzania. Nepal National Development Report on poverty alleviation (2004) [www. nepal. gvt. nd] Research on poverty Alleviation. Amon Mbelle and Jovieter Katoboro (2003) [www. repoa. or. tz] Shah Anup(2001) Poverty Facts and Study on Global Issues. UN, Human Development Report (2000) www. undp. org UN Project Research on Ending African Poverty Trap. Jeffrey . D. Sachs (2005) URT 2002, Tanzania Census Report World Bank Economic Review (2000). Volume 14, Number 3. World Bank Report on Poverty (1997) [www. wb. org] World vision (2004), Evaluation report of Moshono ADP [www. world vision. org] How to cite Assess Contribution of Ngos to the Community, Papers

Treasury and Management Asia Marketing

Question: Discuss about the Treasury and Management for Asia Marketing. Answer: 1- Futures Hedging In this section/ assignment, the futures hedging concept is discussed and understood with the help of an example. Given, Liquid X is an alternative energy source used by a company. The prices of Liquid X fluctuates with the changes in the prices of oil and change in price of Liquid X will incur huge losses to the company @ $500,000 for each 1 cent increase in the price per gallon of Liquid X. As a hedging strategy, the company uses gasolines futures to hedge its exposure to Liquid X which maintains 0.7 correlations with gasoline futures. Given, Liquid X has a standard deviation of 50% higher than gasoline futures price changes, each future contract to have 40000 gallons, increase in Liquid X is at 2% from $2.5 per gallon, and the following questions answers are as below: What should be the hedge ratio in the use of gasoline futures to hedge its exposure? Hedge ratio is defined as the size of future contracts in relative to the spot price elements. It is formulated as: where, is the correlation coefficient between the spot price element and the future contract element ; s is the standard deviation of spot price element; and F is the standard deviation of future contract. (DAHL, NA) Given standard deviation of Liquid X is 50% greater than the gasoline futures, Thus, correlation noted to be at 0.7, the hedge ratio is computed as below: h = 0.7 x 1.5 = 1.05 Thus the hedge ratio is computed to be 1.05 with the given details to hedge the risk involved with Liquid X with the help of gasoline futures. This hedge ratio helps in determining the optimal number of future contracts to be purchased to hedge the companys exposure to Liquid X and further related questions are discussed below. What is the company's exposure measured in gallons of Liquid X? Given, companys exposure to risk is the loss of $ 500,000 per 1 cent increase in Liquid X per gallon of Liquid X. This implies, per 1 cent increase in the price of 1 gallon of Liquid X, the loss is $ 500,000. Thus no of gallons of Liquid X exposed for 1$ increase at the cost of 1$ per gallon is 500,000x100 = 50,000,000 gallons. What position measured in gallons, what is the type of position should the company take in gasoline futures to hedge its exposure? As the prices are subject to rise, the company should take long position to buy Liquid X at predetermined price. (NYU, NA) (Montana, NA) The position company should enter with gasoline futures to hedge its exposure is equivalent to product of Hedge Ratio and the no of gallons of Liquid X. That is, 1.05 x 50,000,000 = 52,500,000 gallons of Gasoline futures. How many gasoline futures contracts should be traded in this hedging strategy? As mentioned above, optimal number of futures contracts equal to optimal hedge ratio multiplied by the no of future contracts corresponding to the risk of no of gallons of Liquid X exposed. Also, given each future contract has 40000 gallons, the optimal future contracts are computed as: Optimal # of future contracts = Hedge Ratio x (no of gallons of Liquid X no of gallons per contract) = 1.05 x 50,000,000/40000 = 1.05x1250 = 1312.5 Thus rounding off, 1313 number of 40000 gallon each future contract to be traded for hedging. After two months, what are the gain/loss in the spot market and the trading gain/loss on the futures contracts in part d? The trading gain/ loss on futures contract is calculated by checking the difference between the costs incurred at spot price and the future contract price. If the spot price is higher than the future contracted price in long position, then the company gains from the trading contract else it loses. That is, when the spot price is higher than the future contract price in long position, the company is able to buy at a lesser price than market spot price leading to gains while if the spot price is lesser than the future contract price, the company does not execute the future price and hence buys at market at smaller price thus hedging the risk involved. (Giddy, NA) Given, after two month the spot price of Liquid X has gone up by 2% from $ 2.5 per gallon, The spot price of Liquid X after two months = 2.5 x (1+2%) = $ 2.55 If the company buys from spot market the cost of position of 52,500,000 gallons taken is = 52500000 x 2.55 = $ 133,875,000 As the spot price in market has increased, it is advised to execute the future contracts. Executing the futures, the company would be able to purchase @ $ 2.5 per gallon and hence incur only cost of = 52500000 x 2.5 = $ 131,250,000 Thus the loss saved by the company or the profit gained by the company is = 133,875,000 131,250,000 = $ 2,625,000 In long position that is to buy shares, a future contract is only executed if the spot price is higher than the contract price (Chris Hurt, 2002) and thus in this case executing the contract would save a profit of $ 2.625 million. 2. This section of the report discusses about the interest rates fluctuations in United States and their impact on capital movements, Asian currencies and global economic growth. Asian and emerging economies are generally affected adverse during a tightening cycle in the United States monetary policy as they reduce the aggregate demand in these nations in different means. This adverse impact on the emerging economies has been observed historically. Increase in interest rates in the United States would increase the yields on the assets of the United States and thus would have negative impact on the other international cash flows. Along with affecting the cash flows, they also increase the cost of capital on domestic products as well leading to reduction in consumption. With the increase in interest rate, the dollar will continue to pump up and thus decreasing the values of currencies of other emerging economies leading to fall of international liquidity position resulting in market volatility especially in emerging markets. Thus overall increase in interest rate in the United States would lead to higher risk premiums and thus higher cost of capitals causing re duction in the GDP growth and decrease in the economic growth. (Warnock, 2006) It is observed and understood that the Asian economies have been under high foreign direct investments as shown below. The data above corresponds to 2012 and 2013. The data represents Foreign Direct Investment (FDI) cash flows of Chinese, Japanese, Singaporean and Indian economies. They are the top Asian nations which are noted to have high foreign direct investment flows. The Asian major, China has got the highest Foreign Direct Investment (FDI) noted at 120 billion USD above as on 2012-13 followed by Hong Kong at 78 billion USD. The Singaporean economy has been recorded to have 50 billion USD. Rest of the economies like India, Indonesia, Thailand, Malaysia, Korea, Vietnam and Taiwan are on the smaller exposure with the range varying from 5 billion to 30 billion USD under Foreign Direct Investment. Having such high exposure to the foreign investments, a smaller fluctuation in interest rate via cost of capital will have adverse impact on the growing economies of Asia as their cash flows are affected indirectly leading to financial crunches and strains. If the United states increase the interest rates these investments would strongly affect the Asian economies as these international capital flows would seek higher yields as they would be making better returns on lesser risky assets in United states with increased interest rate and thus would increase the cost of capital adversely affecting the domestic business. Thus, emerging economies like Asia and Middle East which actually do not form any homogenous groups has random affects due to increase in interest rates of the United States. These economies which are dependent on the foreign capital / investment are more vulnerable as compared to other economies. (Hwang, 2015) Along with affecting the foreign capital flows, increase in interest rates in the United States has been observed to be transmitted over the domestic interest rates as well. The trend has been studied internationally and is observed that higher interest rates of United States lead to exert downward pressure on the investments and consumptions, thus leading increase in domestic interest rates especially in developing economies. Raised interest rates increase the borrowing cost which would lead to increased debt service burden on the public and government sectors thus affecting all related services.(Acumen, NA) Asian economy also gets affected with its currency depreciation followed by increase in United States interest rates. The increase in interest rate would increase the potential for the United States assets and thus appreciates the United States Dollar (USD) and thus outflow from any local currency to USD would get affected at a higher exchange rate leading to local currency depreciation. The resultant increase in interest rates would affect the global consumptions as well due to increased costs and thus would lead to fall in demand for Asian exports. As has been discussed above, the increase in interest rate gets transmitted to domestic rates thus increasing the cost of products in these economies leading to decrease in demand of Asian exports. (Alpha Commentary, 2015) All these factors discussed above which include increased cost of capital, higher risk premium and volatility in the finances affect the economies of Asian nations especially those relied on foreign investments. This leads to loss of real income in these economies which result in reduction in the real GDP growth of the economies. Thus, Asian economies with nations having substantial budget with deficit in current account and high foreign investment flows, gets hit adversely with the change in interest rates as has been observed historically and thus having a prudential fiscal management would become the utmost important aspect to safeguard financial stability during the tightening cycle. (Park, 2014) Bibliography Acumen, NA. 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