Global Competitiveness Assignment Example | Topics and Well Written Essays - 750 words

Worldwide Competitiveness - Assignment Example Being serious in separate vocation may mean the company’s intensity and afterward to the country’s seriousness all inclusive also. Definition Meredith and Shafer (2010) characterized intensity in a few different ways. Initially, seriousness is the firm or organization’s long haul suitability. Second, it might be relevantly seen as the current achievement of a firm in the commercial center estimated by gainfulness and piece of the pie. Finally, seriousness of a country might be found in its total accomplishment in all business sectors. Along these lines, worldwide seriousness is the current and total accomplishment in addition to long haul practicality in the general market. As indicated by the US President’s Council on Industrial Competitiveness (1985) and refered to by Meredith and Shafer (2010), intensity for a country is the degree where it can deliver merchandise and enterprises that satisfy universal guidelines while keeping up pay of the residents. V iewpoints considered under seriousness all inclusive incorporate activities, the board, client esteem and different procedures and approaches basic in the market (Meredith and Shafer, 2010). ... It is me giving the edge as a salesman for the customers and the organization too. Worldwide intensity is St Jude Medical contribution results of high caliber however with serious value contrasted with comparable medicinal services items gave by different producers in the US as well as around the globe. It would not be about the money related viewpoint however intensity all around would likewise incorporate all encompassing improvement of the organization. It is satisfying St. Jude Medical’s crucial maintainability concentrate in this way having the chance to interface business procedures and human capital related to monetary development, creation of sheltered and solid items, in addition to social and natural duties. Worldwide Competitiveness in My Career As a salesperson of St. Jude Medical, worldwide seriousness implies guaranteeing clients of good quality items, continually improving and by having center around the company’s center capacities. These exercises would not just make me seriously as far as profession yet would likewise add to St Jude Medical’s intensity and furthermore the nation too. To begin with, consumer loyalty should consistently be ensured by having quality clinical items and giving clients what they need. As expressed by Kinaxis Corporation (2009), as a result of the web and the internet based life also, the clients are presently increasingly engaged to get what they need. Additionally, before offering the item, I should guarantee myself that the item fits in with specific principles like what Schonberger (n.d.) ordered as a rundown of numerous quality measurements that clients partner with items (as refered to by Meredith and Shafer, 2010).

Business Organisation Assignment Example | Topics and Well Written Essays - 3000 words

Business Organization - Assignment Example Right now, it is making a solid nearness in the United States and different pieces of Europe (Ted Baker Plc 2006). Its 2006 yearly report expresses that the organization has 102 retail outlets contained 19 UK stores, 7 abroad stores, 68 concessions, and 8 outlet stores. Since its initiation, Ted Baker Plc has just instilled itself with the responsibility of value fashioner garments. The organization's center ability is triple including plan, item quality, and tender loving care. The organization is known to have for applying peculiar turns to their items (Ted Baker Plc Annual Report 2006). Accordingly, Ted Baker has become the official supplier (Hoovers 2006) for stylish people. Rather than attempting to catch the mass market, the organization selects to win the buying intensity of the top of the line showcase who needs quality and first class garments. It is evident that business associations like Ted Baker Plc need to adapt to the difficulties presented by the progressions and improvements occurring in their outside surroundings. This report will take a gander at how the effect of the advancement of a solitary worldwide town in the tasks and vital bearings. Every suggestion will be upheld by examinations using the board apparatuses and strategies. So as to suggest vital heading that Ted Baker Plc should t... These apparatuses are intended to uncover the inward factors which influence the presentation and prosperity of the firm. Perceiving that ecological powers are likewise significant, natural examining will likewise be directed. The reasonable systems to be utilized are Porter's conventional procedures, Porter's five powers model, and SWO investigation. 2.1. Doorman's Generic Strategies As per Porter, organizations can adhere to three best methodologies cost administration, advertise division, and separation. Nonexclusive systems are exceptionally praised on the grounds that they recognize a specific territory that an organization can center as opposed to attempting to be everything. These clear winning methodologies help business associations to advertise scope and their competency (Thomson 2004). In its site, Ted Baker Plc states its triple system as: considered extension of Ted Baker assortments; controlled appropriation through principle channels-retail discount, and authorizing; and painstakingly oversaw advancement of abroad markets (Ted Baker Plc 2006). As expressed over, these systems are bolstered by the maker's principle capabilities which are plan, item quality, and tender loving care. Through these elements, Ted Baker Plc can set up a picture of value and pattern which separates it from its different rivals. Despite the fact that dress is a lot of like a homogenous decent, the business association can characterize itself and make a picture in the brain of shoppers. In accordance with Porter's nonexclusive systems, it is evident that the organization is counts on a separation procedure for progress. Ted Baker offers an extraordinary other conventional attire organization. Standardstyle states that the organization's items are

Altman Z Score Model Guide (+Examples)

Altman Z Score Model Guide (+Examples) Human beings love predictability. It provides knowledge about the future on a subject of interest. This is evident throughout life. From weather forecasts to world cup matches.These predictions help us make plans and decisions when we don’t know what the future holds. As such, they are not only great but necessary.But predictions, especially accurate ones, are not mere guesswork. They are the result of much analyses and the considerations of all sorts of probabilities.This is where knowledge on statistics comes in handy.Statistics offers a great way of understanding the trends.As such, statistics are widely used to make predictions.Making predictions can be made possible through a formula developed for that purpose.The Altman Z-ScoreThe Altman Z-Score was developed from the original z-score. Z-Scores are used to determine how far a value is from the mean.Depending on the data being analyzed, the values lead to various conclusions. For example, it may show a student’s performance in comparison to the average performance. Source: makemeanalystBuilding on the accuracy of the Z-Score, Edward I. Altman developed a formula for predicting the chances of a company becoming bankrupt.This formula was picked up by those who wanted to know the profitability of their investments. Also standing to benefit from it were the potential investors.Obviously, you would not want to put your money in a company which was about to file for bankruptcy. But preventing bankruptcy is more than an investor’s desire.When companies become bankrupt, many other challenges come up.If big companies become bankrupt, an entire economy can be affected because of the many direct and indirect losses suffered.How accurate is the Altman Z-Score?Reading the above section, you can tell that this model is accurate since it predicted the 2008 recession.More than that, there have been studies done to affirm its accuracy.A prediction of bankruptcy 2 years before it happened had an accuracy of 72%. The false positives accounted for 6%.Further tes ts in the course of 31 years after its launch, the Altman Z-Score proved accurate by 80%-90%.In predicting bankruptcy 1 year before it happened, false positives were recorded at 15%-20%Note: False positives are bankruptcy predictions where the company never became bankrupt.THE ALTMAN Z-SCORE FOR MANUFACTURING COMPANIESIn 1968, Altman published his Z-Score model which was primarily intended for use with publicly-held manufacturing companies.The reason for targeting this specific group was because of the availability of their financial records.Moreover, public companies have more transparency when it comes to reporting their financial status.This is not the case with many private firms. Especially financial institutions.Altman started evaluating the status of 66 companies.Out of these, half of them had already filed for bankruptcy between 1946 and 1965.At the beginning, he considered a total of 22 ratios for his calculations.These ratios were classified into categories of liquidity, p rofitability, leverage, solvency and activity. Later on, he narrowed the number of ratios to 5.The formula he came up with is shown below.Altman Z Score = (1.2 x A) + (1.4 x B) + (3.3 x C) + (0.6 x D) + (0.999 x E)Where:A = Working Capital / Total AssetsB = Retained Earnings / Total AssetsC = Earnings Before Interest and Tax / Total AssetsD = Market value of equity / Total LiabilitiesE = Sales / Total AssetsInterpreting the ScoreUpon calculating the Altman Z-Score, you will get a number which is the indicator you are looking for.For investment purposes, or whatever other reason, it is important to interpret the score correctly.The score is interpreted by checking it against a range of values.There are three ranges of numbers which show the financial status of the company in regards to bankruptcy.Score of 3 and above â€" a score of more than 3 indicates that the company is in the “safe zone.” This means that the company’s financial status is okay. It is financially healthy. If you are investing, this would be a good company to invest in.Score from 2.9 and 1.8 â€" this range is considered a “gray area.” Companies which have a score lying in this range are not very safe. Their finances are not stable and the companies may get into the “danger zone” if there are improvements.If you are looking for an investment, this would not be a very good bet. If you already have your money there, you will need to act fast.Decide to either follow keenly everything affecting the company or just sell off your investment.Score of below 1.8 â€" any score below 1.8 should scare you. Do not give it much thought as the company is in the “red area” or “distress zone.” The lower the score, the more danger there is in the company soon becoming insolvent.Example CalculationBelta manufacturers in China produce car engines. They have been in the business for almost 20 years.They have been profitable enough to employ more staff and increase their production. But with a recent loan taken to facilitate automation, investors want to know how the company is doing.Their total assets are worth $3,500,000 while they have a working capital of $4,200,000. Their liabilities stand at $5,000,000 while retained earnings amount to $800,000. Earnings Before Interest and Tax come to $6,500,000. Sales total $8,300,000 while the market value of equity is $7,000,000.Here is the calculation of Belta’s Altman z-score:Altman Z Score = (1.2 x A) + (1.4 x B) + (3.3 x C) + (0.6 x D) + (0.999 x E)(1.2 x (4,200,000 / 3,500,000)) + (1.4 x (800,000 / 3,500,000)) + (3.3 x (6,500,000 / 3,500,000)) + (0.6 x (7,000,000 / 5,000,000)) + (0.999 x (8,300,000 / 3,500,000))= (1.2 x 1.2) + (1.4 x 0.229) + (3.3 x 1.857) + (0.6 x 1.4) + (0.999 x 2.371)Altman Z-Score = 11.097The investors can comfortably toss away their fears and relax, expecting higher returns. With a score of 11.097, Belta is firmly in the safe zone.THE ALTMAN Z-SCORE FOR PRIVATE COMPANIESThere was a need for predictin g the possibilities of private companies filing bankruptcy. This made Altman come up with a formula for these too. The formula is as below.Altman Z Score = (0.717 x A) + (0.847 x B) + (3.107 x C) + (0.420 x D) + (0.998 x E)Where:A = (Working Capital) / Total AssetsB = Retained Earnings / Total AssetsC = Earnings Before Interest and Taxes / Total AssetsD = Book Value of Equity / Total LiabilitiesE = Sales / Total AssetsInterpreting the ScoreThe interpretation of the score for private companies is slightly different from that of the public manufacturers.Here is the guide:Score of 3 and above â€" this score indicates that a private company is in the “safe zone.” A company with this score is financially stable and the chances of going bankrupt are very low.Score from 2.99 to 1.23 â€" this is the “gray area.” The chances of bankruptcy are moderate and these companies should work on improving their financial standing.Score of below 1.23 â€" this is the “distress zone.” A compa ny in this position is highly likely to become bankrupt. Investors in such companies should be on high alert.Example CalculationKeriko is a medium-sized marketing agency.They have been in operation for 2 years. Business has not yet hit their expectation but things are running smoothly.Wanting to know the outlook of their business, they seek to calculate their Altman z-score.Keriko’s earnings before tax and interest are $650,000. Their revenues (sales) are $857,000 while total assets amount to $1,200,000 with liabilities being $320,000. Book value of equity stands at $7,000,000. Retained earnings are $135,000 and working capital is at $400,000.Altman Z Score = (0.717 x A) + (0.847 x B) + (3.107 x C) + (0.420 x D) + (0.998 x E)= (0.717 x (400,000 / 1,200,000)) + (0.847 x (135,000 / 1,200,000)) + (3.107 x (650,000 / 1,200,000)) + (0.420 x (7,000,000 / 320,000)) + (0.998 x (857,000 / 1,200,000))Altman Z-Score = 11.917The management of Keriko can rest assured that they are on the right path.Their score shows they are not anywhere near bankruptcy.THE ALTMAN Z-SCORE FOR NON-MANUFACTURING COMPANIES AND THOSE IN EMERGING MARKETSAltman also worked on a formula for non-manufacturers as well as those companies in emerging markets.Below is the guide on calculating their scores.For non-manufacturersAltman Z-Score = (6.56 x A) + (3.26 x B) + (6.72 x C) + (1.05 x D)For companies in emerging marketsAltman Z-Score = 3.25 + (6.56 x A) + (3.26 x B) + (6.72 x C) + (1.05 x D)Where:A = Working Capital / Total AssetsB = Retained Earnings / Total AssetsC = Earnings Before Interest and Taxes / Total AssetsD = Book Value of Equity / Total LiabilitiesInterpreting the ScoreThe score interpretation is as below:Score above 2.6 â€" this is the “safe zone” for these companies.Score from 2.6 to 1.1 â€" this is the range for those companies in the “gray area.” This means some work should be done to avoid getting into the danger zone.Score below 1.1 â€" this is the “distress zone.” These companies might be filing for bankruptcy any time.LIMITATIONS OF THE ALTMAN Z-SCOREAltman’s Z-Score provides any investor or regulator with a great way of knowing what is yet to come. With accuracy rates of over 80%, this model is certainly worth utilizing.As is normally the case, advantages rarely come alone. Strengths are usually accompanied by weaknesses.The Altman Z-Score model has some limitations as it’s usage in some scenarios may not be ideal. Below are some of the limitations.Cannot be used with financial companiesLike other companies, financial organizations can have their scores calculated using the Altman Z-Score model. The problem is that data for these companies may not be available.This is not because the data doesn’t exist, but because it isn’t readily available or easily accessible.If inaccurate data causes inaccurate results, what would unavailable data do?In the absence of data there would obviously be no results.Financial organizations tend to keep much of their records private. This may be seen as just the nature of anything to do with money.People keep their financial status secret and so do banks. Though they are businesses like the others, this seems to be widely practiced in the finance sector.Reports on fraud also put a lot of pressure on the banks. And as they work on tightening security, the criminals seem to be improving their skills too.Watch the below video to see how easy cloning a credit card is. There is definitely a need to be more cautious with your card. Reporting the full amount lost is seen as possibly damaging the image of the company.When customers hear the amounts lost and the frequency of the losses, they might conclude that the company is insecure.And no-one wants to put his money where it’s not safe.With this mode of operation, there is little predicting which can be done from the outside. But from the inside, it’s possible.Yet it’s not the inside prediction that is needed because that can be ke pt secret.The people who need the information i.e. shareholders and other investors, may be inconvenienced by this.Only as accurate as the data usedThis is quite expected. This model uses data from a company to calculate the possibility of insolvency.Obviously, the results can only be as good as the data used.If the company provides inaccurate data, then that is what will go into the model. After calculations, the model will still give a score and that score is what will be used to determine possible bankruptcy.The challenge lies in the possibility of a company’s management or accounting department deciding to falsify information.As much as the model was initially developed using publicly-available records, there is no guarantee that these can’t be inaccurate.For example, a CFO or other high-ranking employee may have his job on the line. If the records available prove his under-performance, he may decide to falsify the information.Doing the calculations himself, he may alter the records and provide data which will result in a high Z-Score.This will make the public, shareholders or regulators happy. But the problem in the company will still exist.If the company eventually goes down, everyone will be taken by surprise. Many will lose their money since they never saw the need to sell off their stock.Cannot be used with new companiesMany companies are being registered everyday as entrepreneurs venture into business. As good as this is, many startups fail to become the big businesses they were envisioned to be.Many new companies lack finances. Though they may have managed well enough with the much they had, piling debt can bring them down fast. With sales being low, the situation may get too hard for the entrepreneur to handle.Yet even new companies often have investors. There are people who put their money in new companies. Others invest by giving products on credit trusting that the company will sell and pay its debts on time.Wouldn’t it be good if these pe ople could tell if the company would be unable to stand?It certainly would. Unfortunately, the hero model, Altman’s Z-Score can’t help in such a situation.The biggest problem is that there is simply too little data to facilitate this calculation. Two particular variables are not well captured in a new company, making the Altman Z-Score unusable. These are:1. Retained earnings â€" these earnings are determined at least after 1 year of business operation. This is because you have to calculate profits or losses so as to know whether you have any retained earnings. If you have some, then you will be able to have the figures to use.Without retained earnings in the formula, there will be no accurate results. Every piece of information required in the formula must be available. With this situation, it means that the model cannot be utilized.2. Market value of equity â€" the market value of a new company’s equity can be very difficult to determine. This is because the company may not have traded enough to be known. This may be because there are no investors interested in the company.Also, it’s products may not have been well received by the public yet. Maybe the company was still in the marketing period working on some strategies when it went down.Maybe it was looking for funds and not attracting an investor in good time, it closed down.Such scenarios make it difficult to put a number on the market value of the company’s equity. With an unconfirmed figure, the results may not reflect the true state of the company. The calculation may not even be possible.The model is based on old discriminatory dataThe Altman Z-Score model was published in 1968, which is over 50 years ago. At that time, the dataset used by Altman was for 66 manufacturing companies whose net worth was more than $1 million.The dataset in itself was discriminatory.Although picking publicly-help companies for the task was okay, why discriminate against smaller companies?Many reasons can be given but using this as the foundation of the model can be limiting to its use.More than that, the sheer age of the model creates room for opponents to discredit it. The business environment in 1968 was very different from the current one. You may wonder whether there are considerations the model is missing.Could it be that smaller companies have a Z-Score which might be interpreted differently? Or the score might differ greatly depending on the size of the company?CONCLUSIONThe Altman Z-Score is a good model which can accurately show the direction a company is taking. If the alarm is raised in good time, then corrective measures can be taken.

The Scientific Theory Of Science And Technology - 1449 Words

Science and technology is important to society and is often used in our everyday lives. We often have no idea how science and technology really affect us. We work and live in a world driven by technology and science. Science is crucial because it has helped form the world that we live in today. Charles Robert Darwin was an English geologist and naturalist, best known for his significant addition to the science of evolution. He had a theory that all species have inherited traits over time from common ancestors, and in a partnership with Alfred Russel Wallace introduced his scientific theory that this pattern of evolution resulted from an action that he called natural selection, in which the struggle for existence has a similar effect to the†¦show more content†¦The purpose of the trip was to take a five-year survey trip around the world Commanded by Captain Robert FitzRoy. The voyage would prove the opportunity of a lifetime for the Charles Robert Darwin. The HMS Beagle set out on its voyage far and wide with Darwin on board on December 27, 1813. Over the course of the excursion, Darwin recovered an assortment of characteristic examples, including fossils, birds, and plants. Through extreme research, he had an exceptional opportunity to watch the standards of topography, zoology, and natural science nearly. South America, The Galapagos Archipelago, and The Pacific Island were of sure enthusiasm to Darwin. Charles Darwin started to review his discoveries in the Diary of Examines, distributed as a component of Chief FitzRoy s bigger report and later altered into the Zoology of the Voyage of the Beagle, once Darwin came back to Britain in 1836. The voyage enormously affected Darwin s perspective of common history. He started to grow a significant hypothesis about the start of living creatures that was inverse to the famous perspective of different naturalists at once. Darwin s involvement with examples across the world brought up vital issues. Different researchers trusted that all species either appeared toward the beginning of the world, or were made after some time in natural history. In either case, the species were accepted to stay much the same all through time. Darwin, saw similitudes among speciesShow MoreRelatedImpact Of Technology On The Development Of Civilization1407 Words   |  6 PagesIn contemporary society, science has played a more pivotal role than technology in the development of civilization. The purpose of science is to develop a vast breadth and depth of data and knowledge to enable us to understand why things are the way they are (Oberdan 26). On the other hand, technology is used to improve real problems based on justified beliefs and organizational systems (Oberdan 28). 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Definition and Examples of Infinitive Verbs

In English grammar, an infinitive is the  base form of a verb that can function as a noun, adjective, or adverb. Infinitive comes from the Latin word infinitus meaning endless. The infinitive is a type of verbal, or word derived from a verb that does not function as a verb, that is almost always preceded by the particle to. Infinitive Phrases Infinitives beginning with to and making up infinitive phrases are separate from prepositional phrases that use to (as in She drove to Chicago) to describe movement. An infinitive phrase is made up of the particle to, an infinitive, and any accompanying  objects,  modifiers, or complements. Examples of infinitive phrases: She plans to write a novel.They are going to run around the block.The dog was not hungry enough to eat. A negative infinitive phrase can be formed by placing the negative particle not in front of to. Examples of negative infinitive phrases: She told me not to drink the milk.I was going to really try not to be late.They were warned not to go near the poison ivy. Examples of Infinitives in Literature and Film Mark Twain: It is better to keep your mouth closed and let people think you are a fool than to open it and remove all doubt. Will Rogers: Half our life is spent trying to find something to do with the time we have rushed through life trying to save. Susan Sontag: Until the advent of television emptied the movie theaters, it was from a weekly visit to the cinema that you learned (or tried to learn) how to walk, to smoke, to kiss, to fight, to grieve. Fred Allen: A celebrity is a person who works hard all his life to become well known, then wears dark glasses to avoid being recognized. Functions of Infinitives and Infinitive Phrases Although infinitives  usually follow main verbs, they may appear in various places and serve different functions in a sentence. Here are a few examples of infinitives that do not follow main verbs and/or are being used as sentence parts other than subjects or objects: To raise a child is  the highest form of education.—to raise is the subject of the verb isWe want to raise our children in a safe environment.—to raise is the object of the verb wantHer only goal is to graduate.—to graduate is the subject complement after the linking verb isEach child has a list of chores to complete.—to complete is the adjective modifying the noun phrase a list of chores James Thurber on the Perfect Infinitive A perfect infinitive is defined as to have a past participle. James Thurber spoke about perfect infinitives in his article for The New Yorker titled Our Own Modern English Usage: The Perfect Infinitive.† Below is an excerpt from this article that describes the perilous situation of too many haves. Too Many "Haves" It is easy enough to say that a person should live in such a way as to avoid the perfect infinitive after the past conditional, but it is another matter to do it. The observance of the commonest amenities of life constantly leads us into that usage. Let us take a typical case. A gentleman and his wife, calling on friends, find them not at home. The gentleman decides to leave a note of regret couched in a few well-chosen words, and the first thing he knows he is involved in this: We would have liked to have found you in. Reading it over, the gentleman is assailed by the suspicion that he has too many haves, and that the whole business has somehow been put too far into the past. His first reaction is to remedy this by dating the note: 9 p.m. Wednesday, June 12, 1929. This at once seems too formal, and, with a sigh, he starts in again on the sentence itself. That is where he makes a fatal mistake. The simplest way out, as always, is to seek some other method of expressing the thought...What he does, however, is to lapse into a profound study of this particular grammatical situation, than which there is no more hazardous mental occupation... First the victim will change the sentence to: We would have liked to find you in. ...this is correct (barring the use of would instead of should), but, alas, the gentleman does not realize it. Few people ever do realize it. This is because the present infinitive, to find, seems to imply success. They, therefore, fall back on the perfect infinitive, to have found, because it implies that the thing hoped for did not come to pass. They have fallen back on it so often that, after the ordinary past tenses, its use has come to be counted as idiomatic, even though it is incorrect... There is a simple rule about past conditionals...After would have liked, would have hoped, would have feared, etc., use the present infinitive. The implication of non-fulfillment is inherent in the governing verb itself, that is, in the would have liked, etc. You dont have to shade the infinitive to get a nice note of frustration...Avoid the perfect infinitive after the past conditional as you would a cobra. Sources Sontag, Susan. â€Å"The Decay of Cinema.†Ã‚  The New York Times, 25 Feb. 1996.Thurber, James. â€Å"Our Own Modern English Usage: The Perfect Infinitive.†Ã‚  The New Yorker, 22 June 1929.

Relationship between russian and the european union Free Essays

Russia stretches over a vast expanse of Europe and Asia with an area of 17,075,200 square kilometres making it the largest country in the world in terms of land mass. This country   shares land borders with Norway, Finland, Estonia, Latvia, Lithuania, Poland, Belarus, Ukraine, Georgia, Azerbaijan, Kazakhstan, China, Mongolia and North Korea. Since the termination of the USSR in December 1991, Russia has become an influential member of the Commonwealth of Independent States. We will write a custom essay sample on Relationship between russian and the european union or any similar topic only for you Order Now Russia’s worldwide role decreased greatly compared to that of the former Soviet Union. Russia is an essential partner in terms of engaging and building a strategic partnership with.   The 2003 European Security Strategy has rightly placed this country as a key player on geo-political and security issues at global and regional levels. Russia plays an important role in the UN Security Council and has significant influence in the European neighbourhood and in Central Asia. It must likewise be noted that Russia is a major supplier of energy products to the EU. It may be considered to have a small market but Russia is a large market for EU goods and services, with considerable potential for growth. And if that’s not good news yet, listen to this: Russia is a key ally in EU efforts in its fight against new threats to security, including terrorism, pollution, crime, illegal migration and trafficking. Russia and the European Union The European Union’s primary objective is to enlist Russia to build a genuine strategic partnership, founded on common interests and shared values to which both sides are committed in the relevant international organisations such as the UN, Council of Europe, and OSCE, as well as with each other in the bilateral Partnership and Cooperation Agreement (PCA). As Ivanov mentioned these interests and values involved democracy, the rule of law, human rights and market economy principles (2000, pp. 33). Shishaev says that the EU and Russia are already cooperating on various issues which include modernisation of Russia’s economy and its consolidation into the world economy, security and international issues (1999, p. 42). Shishaev further explains that â€Å"EU relations with Russia is guided on a large spectrum of particular EU policies, including external policies like the Common Foreign and Security Policy (CFSP) and trade policy; the external aspects of general EU policies such as on energy, transport, environment, etc.; the external dimension of freedom/security/justice activities; and the principles retained for development cooperation and assistance† (1999, p. 42). Likhachev reported that the common ground for EU relations with Russia is the PCA which came into force on December 1, 1997 for an initial duration of 10 years. This agreement shall extend beyond 2007 on a yearly basis. PCA sets the main objectives, establishes the institutional framework for bilateral contacts, and calls for activities and dialogue in a number of areas. The conditions of the PCA embrace a wide range of policy areas including political dialogue; trade in goods and services; business and investment; financial and legislative cooperation; science and technology; education and training; energy, nuclear and space cooperation; environment, transport; culture; and cooperation on the prevention of illegal activities. Rules of procedure for the dispute settlement provisions of the PCA were adopted in April 2004 (2000, pp. 20-24). The EU laid down its basic approach to relations with Russia in a â€Å"Common Strategy† in 1999 which was not extended beyond June 2004. An in February 2004, the Commission adopted a Communication which adopted measures to improve the effectiveness of EU-Russia relations, specifically in the wake of increased mutual dependence, the forthcoming enlargement, and the unresolved conflicts in some countries bordering Russia. The current institutional framework for relations with Russia as mentioned   above, is expected to change under the provisions of the new agreement with the view to creating a more concise and streamlined approach. During the Summit held in May 2003, the EU and Russia mutually decided to strengthen their cooperation by coming up with so-called four ‘common spaces’ in the framework of the PCA. It was agreed to make a common economic space; a common space of freedom, security and justice; a space of co-operation in the field of external security; as well as a space of research and education, including cultural aspects. Antonenko and Pinnick (2005, pp. 35-37) pointed out the ‘the purpose of the common economic space   is to create an open and integrated market between the EU and Russia which will bring down barriers to trade and investment and promote reforms and competitiveness, based on the principles of non-discrimination, transparency and good governance’. Among the wide range of actions that were perceived are a number of new dialogues. Cooperation is being stepped up on regulatory policy, investment issues, competition, financial services, telecommunications, transport, energy, space activities and space launching, etc. Environment, including nuclear safety and the implementation of the Kyoto Protocol, also figures prominently. How to cite Relationship between russian and the european union, Papers

Social Policies Closing the Gap

Question: Discuss about the Social Policies for Closing the Gap. Answer: Introduction: Social policies are important in bringing social changes and ushering in some new strategies or ways of life for the people in a community. Social policy is associated with the lifestyle, behavior, cultural identity and religious beliefs of the people living in a community. However, Closing the Gap is a policy that aims towards the development of the aboriginal people and the people of Torres Strait Island (Rigney Hemming, 2014). The policy came into existence due to the several problems that are widespread among the aboriginals and the people of the Toress Starit Island. Social problems include a wide range aspects and it brings in focus the present scenario or circumstances of the indigenous or the aboriginal people. The young generation does not show much interest in carrying forward their rituals and beliefs since the mainstream people of Australia always neglect them. The health care system is not at all up to the mark to help the aboriginals recover quickly from various kind o f disease. The hospitals have minimum or hardly any facilities to treat the aboriginal people. Suicide among the aboriginal people is also an important social issue which will gradually extinct the aboriginal existence from Australia. Domestic violence, too much of alcohol consumption, vagabond lifestyle of the aboriginals are also some of the key social issues. Fights among their own people are also a common affair and it at times takes very violent forms. Drunkenness is a major social problem that is very common among the aboriginals and it is not conducive for the growth of their community. The indigenous people have another important social problem that is gambling (Hess Ribeiro, 2016). They waste their little earned money in gambling and thereby uselessly wastes time. Unemployment is also a major social issue of the aboriginals and of the Torres Strait Islanders. There are several reasons, behind the unemployment of the aboriginal people, which are low wage structure, scarcity of work that matches their skill set and so on. Disease that is transmitted sexually is very common among the aboriginal people and it is one of the major social issues. The literacy rate among the aboriginal is very low and if this tradition continues then their lifestyle will never develop. The policy aims to develop or increase the life expectancy of the aboriginals and the people of the Torres Strait Island with in the year, 2030. In the year, 2008 the health equity summit for the indigenous people of Australia was held in Canberra where several Australian Government representatives were present (Haines et al., 2016). The Australian Government has planned to focus on the various health issues through this policy of theirs. They are responding to the identified needs of the Aboriginals and Torres Strait islanders in making choices along with offering them the safe admission to early involvement and treatment services, making them free from racism. Scope and purpose of the policy: Closing the Gap is a strategy of government aimed at lessening the disadvantage among the people of Aboriginal and Torres Strait Islander with reverence to child mortality, life expectancy, and outcomes in employment. This policy has come from the Australian Government as their commitment towards achieving the health equality of Aboriginals and Torres Strait Islander people within 25 years. The aboriginals and the Torres Strait Islanders are the most primitive group of people of Australia and over the time, they have suffered many difficulties and adversities (Trivedi et al., 2016). During the time of the European settlement in Australia, the aboriginal people of Australia suffered a lot of pain and hardships since there was a discrepancy in the implementation of social policies between the European and the aboriginals. However, the aboriginals of Australia in todays time are not that primitive and they earn their livelihood by working as laborers in fields or in farms. The northern part of the island, Australia is filled with maximum numbers of aboriginal people and with time they upgrading themselves to adapt with the contemporary Australian lifestyle. The Torres Strait Islanders are also the indigenous or the aboriginal people of Queensland having a different set of cultural and religious beliefs (Hunter Yap, 2014). The main purpose or the targets of the policy can be discussed with special focus on the main points. The purpose of the policy is to decrease the mortality rate among the aboriginal children who are all within the age group of five. The purpose of the policy is also to ensure that the children, who are under the age of four, should get education. The policy also aims towards bridging the gap between the educational systems of the mainstream Australian people with that of the indigenous people of Australia. The policy also aims towards bringing in a change or improvement in the reading and writing capabilities of the indigenous people. The policy is delivering good results since yearly reports are being published which judges the growth and development of the aboriginal people. The Prime Minister of Australia every year hands out a report on Closing the Gap policy in the parliament to that talks about the details of the progress of the aboriginal and the Torres Islander people. The policy aims to bring in substantial development fo r the aboriginal people and the Torres Islander people within 2030 and since the timeframe is quite lengthy, it has several issues to be addressed and rectified (Thronson, 2016). The policy is going to usher in a new life for the aboriginal people that will help them to make themselves associate with the rest of the Australian people. Effectiveness of the policy: The policy has been quite effective in bring substantial development for the aboriginal and the people of the Torres Strait Island. Within the past few years, the life expectancy rate of the people has increased incredibly. The life expectancy of the males has increased by 1.6 years whereas the life expectancy of the females has increased by 0.6 years. However, there remains a gap of near about 10 years between the life expectancy rate of the aboriginal people and the non-aboriginal Australian people (Samji et al., 2013). Improvement in the health of the children and their mothers has also been observed along with a reduction in the smoking rate. The health community has provided good quality health care system for the aboriginal people so that they can access the primary health care services to treat their disease. The policy is very good since it is only for making the aboriginal people and the people of Torres Strait Island a part of the mainstream Australian community. The policy aims towards the betterment of the health and lifestyle of the indigenous people and it also focuses on the minute details of the indigenous people like, drinking that affects the health, smoking, imprisonment and so on. Australian Government sets the strategies for the aboriginal people as per the requirement or need of the indigenous people (Pruett DiFonzo, 2014). People around the world are well aware of the policy and know how the policy has brought about considerable change for the aboriginal people of Australia. The implementation of the policy is done with calculative measure to make the strategies effective. The plan of implementation includes several points like, setting targets in order to measure or calculate the outcomes and the progress. Developing a good management system, a dedicated workforce and a good infrastructure are also included under the implementation plan to carry strategies of the policy successfully. After this, the implementation plan also includes sel ecting or mapping the regions that are hugely affected by diseases or have poor health care system, which will help in better implementation of the strategies. The implementation plan also ensures the fact that the cultural prospect of the indigenous people is preserved during the process of strategy implementation. However, the effectiveness of the policy greatly depends on the implementation plan and it decides the success of the policy. However, Closing the Gap policy has some limitation as well. The policy fails to understand the sentiments and emotions of the aboriginal people, the wrongs that have been done to them. The policy also at times lacks behind in identifying the chronic diseases among the aboriginal people and thereby fails to provide any substantial cure for the diseases (World Health Organization, 2013). The most unpleasing result of the policy is the failure in detecting the chronic diseases like, improper function of kidney, high blood pressure, high level of cho lesterol and so on. Research conducted among the aboriginal people and the people of the Torres Strait Island establish the fact that many of them have diabetes and they are fully unaware about it, which hampers the overall health prospect of the indigenous people. Apart from these other weakness or limitation of the policy, include in depth analysis of their mental state, which is associated with their healthy lifestyle. The strength of the policy includes presentation of yearly or annual report and monitoring the increase in the life expectancy rate of the indigenous people. Identification of the key problems or issues also adds to the strength of the policy. The strength of the policy also includes the fact that all the strategies are supervised and implemented by the Government of Australia. It was way back in March 2008, that the Government of Australia and the Aboriginals and Torres Strait Islanders approved on working together in order to achieve equality in the status of health and expectancy of life between the non-indigenous sections of people and the Aboriginals by 2030. Though, reports suggest that the Aboriginals have been the scapegoats of bad decision making and i has become an issue of national shame for the Australians who are continuously failing in their endeavor to close the gap between the white and the black Australians. Key issues and consideration: The key issues of the indigenous people are proving the ownership of their land, which belonged to their ancestors, sine without land they cannot progress with making any permanent settlement for themselves. Remoteness is another key issue of the aboriginal people and the Torres Strait Islanders since most of them live rural and underdeveloped areas of Australia, which is far away from the vicinity of towns and cities (Samji et al., 2013). Poor health condition is another key issue of the indigenous people since they do not get good medical treatments or facilities. Closing the Gap covers international policies since it has incorporated several international or excellent measures to usher in a change for the indigenous people. The policy wants to achieve equity in health care service, education system and lifestyle of the aboriginal people and the Torres Strait Islanders with that of the non-aboriginal people. The policy is designed to close the Gap that has been there from time imme morial so that the indigenous people become a part of the mainstream Australia. The policy wants to improve the lifestyle of the indigenous people and bring them back from the dark social issues like gambling, excessive consumption of alcohol, intake of drugs and so on. It is perceived through proper planning and implementation of the strategies. The change cannot be brought about in few days therefore the government has taken a time- period of near about 30 years to develop the indigenous group of people (OBrien, 2013). However, recent reports suggest that there has been no progress in even halving the gap in the outcomes of Indigenous employment, whereas, a little development has been made in the Indigenous life expectancy and again no progress in the numeracy gap. The government has failed to produce any kind of proper audit on spending as recommended by the Chief Indigenous Advisor, Warren Mundine. Conclusion: The aboriginals of Australia form a major part of the Australian community and they are the witness of the social changes that happened over the years. Social policies are generally formulated for the betterment of a society or the common people and the governing bodies of a country make the policies (Kersting Vetter, 2014). The paper discusses the range of activities that Closing the Gap policy can undertake in order to develop the security, education, health care system and living condition of the humans. In todays time, Australia can be said to be a multicultural country and among the multicultural people, the aboriginals and the Torres Strait Islanders deserves special mention. The paper mainly focuses on the strategies of the government officials in order to usher in some positive changes for the betterment of the aboriginals and the people of Torres Strait Island. However, the essay also discusses the policy that has been formulated at the state or at the federal level and the scopes of the policies for the betterment of the aboriginal people of Australia. The writing of the Australian aboriginal writer like, Jack Davis represents the true story of the aboriginal people. No Sugar shows the pitiable condition of the aboriginal people of Australia whom the Europeans treated very badly. For years, they remained in a very degradable and precarious situation (Jacobsen 2014). They ate foods, which no one would have eaten and they were even paid less for their hard work. All these created a rage among the indigenous group of people. However, with the formation of the policy it is recommended that the policy should be carried with utmost sincerity and calculative measures. It is also recommended that the indigenous people should cooperate with the government for developing their lifestyle. Reference: Carter, P. L., Welner, K. G. (2013).Closing the opportunity gap: What America must do to give every child an even chance. Oxford University Press. Ewen, S., Mazel, O., Knoche, D. (2012). Exposing the hidden curriculum influencing medical education on the health of Indigenous people in Australia and New Zealand: the role of the critical reflection tool.Academic Medicine,87(2), 200-205. Guiraudon, V., Lahav, G. (Eds.). (2013).Immigration policy in Europe: The politics of control. Routledge. Haines, C. F., Fleishman, J. A., Yehia, B. R., Lau, B., Berry, S. A., Agwu, A. L., ... Gebo, K. A. (2016). Closing the Gap in Antiretroviral Initiation and Viral Suppression: Time Trends and Racial Disparities.JAIDS Journal of Acquired Immune Deficiency Syndromes,73(3), 340-347. Hess, C. E. E., Ribeiro, W. C. (2016). Energy and Environmental Justice: Closing the Gap.Environmental Justice,9(5), 153-158. Hunter, B., Yap, M. (2014). Income, work and education: insights for closing the gap in urban Australia. Jacobsen, S. (2014).Checkpoints VCE Text Guides: No Sugar by Jack Davis. Cambridge University Press. Kersting, N., Vetter, A. (Eds.). (2013).Reforming Local Government in Europe: Closing the gap between democracy and efficiency(Vol. 4). Springer Science Business Media. OBrien, K. (2013). Global environmental change III Closing the gap between knowledge and action.Progress in Human Geography,37(4), 587-596. Pruett, M. K., DiFonzo, J. H. (2014). Closing the gap: Research, policy, practice, and shared parenting.Family Court Review,52(2), 152-174. Rigney, D., Hemming, S. (2014). Is Closing the GapEnough? Ngarrindjeri ontologies, reconciliation and caring for country.Educational Philosophy and Theory,46(5), 536-545. Samji, H., Cescon, A., Hogg, R. S., Modur, S. P., Althoff, K. N., Buchacz, K., ... Justice, A. (2013). Closing the gap: increases in life expectancy among treated HIV-positive individuals in the United States and Canada.PloS one,8(12), e81355. Thronson, D. B. (2016). Closing the Gap" DACA, DAPA, and uS Compliance with International Human Rights Law.Case Western Reserve Journal of International Law,48(1), 127. Trivedi, A. N., Bailie, R., Bailie, J., Brown, A., Kelaher, M. (2016). Hospitalizations for Chronic Conditions Among Indigenous Australians After Medication Copayment Reductions: the Closing the Gap Copayment Incentive.Journal of General Internal Medicine, 1-7. World Health Organization. (2013). Closing the health equity gap: policy options and opportunities for action. Yu, M., Sampson, M. (2016). Closing the Gap between Policy and Practice in Screening for Perinatal Depression: A Policy Analysis and Call for Action.Social work in public health, 1-8.