Is totemism a religion? Essay

Defining what constitutes a religion is a difficult, if not an impossible quest. However, before determining whether or not certain belief-systems and/or ritualized practices can be considered a religion, a definition is imperative. For our purposes, I am going to use the extremely elementary definition from Webster’s New Dictionary , â€Å"A system of faith and worship.† In The Elementary Forms of Religion, Emile Durkheim, a French Sociologist from the 19th Century, examines totemism in an effort to draw universals between all religions. Durkheim sets his focus on Australian totemism, because it is the most â€Å"primitive culture† with the most resources available. From Durkheim’s perspective, the basis of totemism is to create lasting societal bonds. Totemic tribes are assorted into clans whose unity results not from kinship, but from the religious relationship between the members. From Durkheim’s perspective, the totemism in this culture is based on the sacred relationships developed by the clan’s members in addition to some totemic unit, which is usually a plant or animals species common to the area. If an entire society is based around its sacred ritualized practices, it is only fair to consider those ritualized beliefs and practices as constituting a religion. Thus, the real question is, can a society whose spirituality is based on kinship, and whose idea of sacred lies only in the ties within the clan and not on a god or gods of some sort be considered a religion? The answer to this question is yes. Although totemic practices may not be familiar to many Westerners, when real speculation is given to various totemic religions, it is easy to see the complexity that underlies many forms of totemism. In addition, when looking at the religions that are common to us Westerners, can we really argue that our common religions are more logical than theirs? Through the totemic principles of the universe, and the worshiping of idols, even if these idols do not represent G-ds, it proves that totemism is most certainly a religion. Durkeim uses totemism as a basis from which answers to our lingering questions about modern religions can be drawn. â€Å"In our eyes, the question whether totemism has been more or less universal or not, is quite secondary. If it interests us, it does so before all because in studying it we hope to discover relations of a nature to make us understand better what religion is( Durkheim, 176).† Durkheim is using totemism as the platform from which  all other religions shall be compared to derive new and provoking ideas about religion. Durkheim believes totemism contains obvious religious qualities, even with the lack of a god or gods. † Finally, that which we propose to study in this work is the most primitive and simple religion which it is possible to find ( Durkheim 176).† Durkheim clearly considers totemism a valid although â€Å"simple† religion. Of course, this is only the opinion of one, we must delve into totemic rituals and beliefs before it can be proven that totemism is just as much of a religion as any other. Before arguing the attributes of totemism that allow it to be classified as a religion, a more thorough understanding of various totemic practices and the principle’s and beliefs behind those practices is necessary. The first and most prominent example that will be used to describe totemism, will be from the various Australian tribes described by Durkheim. The critical belief in Australian totemism, is the notion that the totemic entity, whatever it may be, is sacred. The entity is thought to bestow sacredness on whatever carries its mark. The totemic entity is used to mark various objects such as stones, sticks, wood, etc. in various rituals. â€Å"The totem is in fact a design which corresponds to the heraldic emblems of civilized nations, and each person is authorized to bear it as proof of the identity of the family to which it belongs ( Durkheim 180).† It is true that we have symbols and emblems that represent our society, which we deem sacred. Is that notion really so outlandish? Many patriotic Americans would be offended by the burning of the American flag, which is only an inanimate object to which we grant sacredness. This, however, is a nation and not a religion, but it is additionally quite common in many religions to revere objects. In Judeo-Christian religions, sacredness is assigned to a book, the Bible, among many other symbols from the Jewish Star to the Christian Cross. If the Bible is dropped or thrown down in many religions, it is seen as a direct offense to G-d, and one must kiss the book to compensate. Notice, also the dropping of the â€Å"o† in G-d. To many religious Jews even writing the name God is considered highly offensive. Assigning value to an object is a common trait across many religions, the difference is that the symbols used in totemism are not a representation for an actual god. Although the totemic emblem is not representative of a god that bears human-like qualities, it is deemed sacred and thus must be some sort of a representation of higher forces as opposed to higher beings. Totemic emblems are not only found on trees, in houses, on wood, etc, but also on the bodies of humans ( Durkheim 181). Whether they are marked on a body through mutilation, scarring, and tattooing, or whether the totems is represented on jewelry and on clothing, the adornment of totems on humans is yet another indication of its sacred value. â€Å"These totemic decorations enable us to see that the totem is not merely a name and an emblem. It is in the course of the religious ceremonies that they are employed; they are part of the liturgy; so while the totem is a collective label, it also has a religious character. In fact, it is in connection with it, that things are classified as sacred or profane. It is the very type of sacred thing (Durkheim 183).† â€Å"Sacred† is used to mean the things that are unworldly which cause humans to revere while â€Å"profane† is simply worldly matter. Once again, the assignment of so much value that one deems it sacred is evidence of religious qualities. Aside from the actual totemic emblem, there are other objects used in worship which are also considered sacred. The Arunta in particular, a tribe in Central Australia, uses an object called a churinga which is literally pieces of wood or polished stone, with the totemic entity marked upon it. Each group has a number of various churinga’s which sometimes bare a whole at one end where a thread made of human or opossum hair goes through. The thread allows the churinga to, when suspended, whirl into the air producing a humming noise which Durkheim compares to the toys of children ( Durkheim, 183, 119). These objects accompany rituals of any importance but also have a direct effect on the â€Å"sacred† and â€Å"profane.† The actual word churinga translates to mean sacred, and women, children, and young men who have not yet been initiated are not granted access to these instruments of piety. Having access to these instruments could be considered positive and negative. Certain churinga’s could not to be handled or viewed at by profane persons when not in use. Sometimes they were placed in secret hiding locations where the † sacred character of the churinga [was] so great that it communicates itself to the locality where they are stored ( Durkheim 184, 120).† Additionally they had powers such as they could create courage and  vigor in combat, heal sickness, and ensure fertility of the totemic animal or plant etc ( Durkheim 184, 120). In all, the sacredness the clan placed on these object is more than apparent and indicates the religious qualities of totemism. It is crucial to remember that the objects chosen to represent totemic symbols are in no way related to the actual symbol itself. The totem itself is not creating the religious feeling, but is solely a means to make tangible the spirituality that bonds a clan. In other words, totemism really has nothing to do with the totem. Instead it is the accumulated experiences of the various social units that creates those intense feelings of awe and reverence that has caused religion to last throughout the ages. Durkheim rationalizes this by saying that most individuals are vulnerable to authoritative figures in societies. In other words, people are inclined to follow individuals who have earned some sort of respect. Durkheim believes that in group environments, the authoritative individual has the capacity to make other individuals feel as though they are experiencing something that can not be experienced alone. People usually are incapable of distinguishing the cause of the intense feelings they are undergoing. Thus, the individuals in such a setting assume that it is some otherworldly force that is the cause of their newfound spiritual experience. The source of whatever is causing those feelings of intensity is what is deemed sacred. The sacred comes in different forms in all religions. In most religions sacredness is assigned to a god or gods. In totemism, it happens to be a totem which symbolizes the sacredness of the kinship in a clan. An interesting perspective that Durkheim holds is that in practice totemic religion in particular arose out of tribal life style. Individuals in tribal societies lived in groups too small to create the type of religious forces recognized by Durkheim. They usually lived spread across vast landscapes. On various occasions social meetings would be held that may be considered large enough to be called a mass of people. In Durkheim’s opinion, gatherings of this sort would effervesce, meaning that the spirituality that lies in the bonds of the group would build creating an even larger sense of religious awe. The group environment would cause the essential production of excited  behaviors and heightened emotions that propel belief in the sacred. A continuation off the previous belief, is Durkheim’s notion that sacredness is contagious. Through these group gatherings, Durkheim argues that the sacred is passed on by means of physical contact. This is proven through rituals that deem new things sacred when touched by previous instruments considered sacred. This is also common in Judaism where the Torah, the first five books in the Bible considered very sacred to the Jews, is touched by all those worshipping in the temple as a way of passing on the sacredness of the Torah to the members of the congregation. Catholics feel drinking wine that is blessed is equivalent to drinking the blood of Christ and thus feel they have attained a degree of sacredness through this ritual. Totemism is most certainly a religion, and bears all the qualities that many consider necessary before labeling something a religion. Durkheim used totemism to analyze the origins of religion in addition to the role religion plays in aiding people in understanding present society. It has been made evident that Durkheim considered religion essentially social viewing it from the eyes of a sociologist. In Durkheim’s mind, primal societies are where religion originated. He believed that although religion is only felt by individuals, it is an episode caused by a few factors. Due to the fact that religion is passed from generation to generation, the perspective that it is larger than any one person is created. The notion that it is larger than an individual allows individuals to become awe stricken by its seemingly evident power. In addition, in closed societies such as the ones which employ totemism, religion is universal, meaning that everyone has the same belief system. The collectiveness ensued through the belief system creates a unity and spiritual bonds among the members of the clans. Lastly, Durkheim believed that individuals in closed societies really have no other options but to believe in the religion taught to or experienced by them from an early age. Durkheim also touched on the fact that the forbidden and the unknown play considerable roles in understanding the essence of religion. Because totemism possesses and even exemplifies Durkheim’s opinions of religion, in addition to standard definitions of religion, it is only fair to label it as being one.

Atonement film essay

In the film, the perspective someone has on various events are shown to greatly contrast. An example of this Is an argument between two of the film's key characters, Cecilia and Robbie, at the beginning of the film. This argument is in fact shown twice in a row, once through the perspective of Celeriac's younger sister Bryony, and again close to the action. In Britons view, she observes through an upstairs window of their manor house an argument that she perceives to be full of sexual tension. She can hear none of what is being said, apart from Robbie sharply shouting â€Å"wait! â€Å".Her Inability to fully understand the argument meant that the little she could see, led to her making lady inaccurate conclusions as to what the argument was about. She assumes Robbie shouting is out of anger, and that the tension between Robbie and Cecilia is solely imposed by him. This is shown to be wrong when the scene is shown a second time, with this time showing that the argument was over som ething trivial, and the sexual tension was triggered by both Cecilia and Robbie. Because she had a skewed perspective, Bryony gets an Idea that causes many problems later In the film.By using these differing perspectives, Wright therefore forces us to consider what we are and rent shown in other films of the same genre. In most love stories, conflicts arise (and are resolved) in the course of the film. In his film, however, Wright shows how inaccurate having a single perspective on a conflict can be, making us doubt the truth in other stories. It is also a reflection on the real world application of perspective. Wright literally shows us that â€Å"there are two sides to every story†, and how the differences between them can define not only a film, but a life.Wright also uses time to expand on what is shown In his film. Unlike typical love stones In which a happily ever after is reached in not only the two hours of the film, but the limited amount of time the characters in th e film experience, Wright makes his characters live out their whole lives before the camera. The film begins in 1935 when Bryony is 13. She is shown at two other ages, at both 18 and 77, meaning the story we are told is 64 years long. This means that the characters' whole lives pass, and through this we can see their relationships develop and change over a large amount of time.As a result of a lie she told at age 13, Bryony spends her whole life trying to atone for the damage it as done, and by being able to see how she is still trying to atone for her actions 64 years after the fact means that we can truly understand the consequences of even small actions. This time-twist on the traditional â€Å"butterfly effect† mean that we see exactly what effects her actions have not only on herself, but on the people around her. Two such people are Robbie and Cecilia. The theme of love between them Is years long like Britons is.This is because one of the effects of her lie was their de aths, only months apart from each other, 5 years after the lie was told. However, ring these 5 years we are able to see the ups, downs, twists and turns of their aging love. In doing so, Wright makes their relationship more realistic than what is typical in romantic films. The usual structure involves one, maybe two obstacles to be overcome before reaching resolution and a happy ending. Robbie and Cecilia, however, are faced with unending hardship and a lot of time apart.The increased length of relationship time we are shown results in the audience being more able to compare the film to their own lives. Real relationships are never finished. They intention, whether interrupted or not, until one or both parties are no longer committed. Robbie and Cecilia remained committed to each other up to their deaths, and by showing how they stood the test of time despite adversities, Wright reflects on the need for commitment and patience in relation to the constant growth of real relationships .This truthfulness in Wright's portrayal of relationships is extended by the lack of a true happy ending in the film. Love stories are watched because a happy ending is guaranteed. The lack of such assurance in real life means people crave some sort of promise that true happiness is a real possibility. By watching characters on a screen have (or earn) their happy ending we allow ourselves to doubt the possible disappointment and cruelty life could offer. In Wright's film, however, he plays with this idea.The film's two lovers, Cecilia and Robbie, are not allowed a happy ending. They die apart and alone before they can have their happiness, denied the happy ending we have learnt to expect. This is initially shocking to the audience, with Wright delivering their endings abruptly, and without apology. But it is this very shock factor that sets this film apart. If the film were to have a happy ending, t would have nowhere near the same effect on the audience.Instead of being content and satisfied, we are shocked, saddened, and, ultimately, challenged by Wright to not rely on a happy ending falling into place, but to make our own happiness. The film Atonement directed by Joe Wright refreshes a traditional love story with interesting twists and conventions. By playing around with perspective, time and the idea of happy endings, Wright not only made an interesting and challenging film, but also challenges traditional genre conventions. In doing so, his film is new and refreshing, despite being a typical love story at heart.

College Student Stress Coping Essay

College students facing academic, social, and other stresses such as finances and how to cope with them. The most common stress most college students face is the stress from the work load that is common in a higher education system. This is the major challenge, and you will be facing without the close guidance you may have previously enjoyed from a teacher or parent; Social stress seems to be more prominent with underclassmen leaving home and there support structure from home but can affect any college student. Most students find that the number one cause of stress for them is financially trying to juggle a full load, and work full time to support yourself and for other students pay for school. Academic stress seems to be what cause the biggest problem for most students. There are some things you can do if you would like to lower your stress level and make student life better. First thing you should do is get the right information from the very beginning. How many lectures, seminars or laboratory sessions are you supposed to be attending? With your assignments make sure you know exactly what you are being asked to do? How many words you’re expected to write and what the deadline is for handing it in. Also try to set up your own space for academic’s to make it easier to focus and concentrate, if you have a noisy roommate try to find a place in the library or even a local coffee shop to frequent. These suggestions will help lower your academics stress which will make life easier for the college student. Social stress for college students is something else that is very common especially in new college students. Most social stress comes from trying to fit it or even trying to create a new social network because in most case’s this is the first time away from home and away from your entire support structure and comfort zone. With social stress one of the most important things to remember is to try and stay involved in different activities at school and get involved with different organizations on campus to meet new people. When getting involved with the organization’s on campus you’ll meet new friends and become more socially outgoing which will help greatly with social stress. Reducing the amount of social stress in college students, will lead to a more enjoyable and positive experience. Financial stress tends to be tohe root of most students problems whether it’s from overspending, lack of proper guidance, peer pressure, inexperience or many other factors. As a result just about everyone is bogged down with large debts increasing day by day. As students many have tried different things to cut down expense but still no luck. There are many ways to help lift the financial stress for college students like taking federal or private loans, grants and scholarships, and working during the summer vacation. By taking federal or private loans you get to choose the best one that is suitable for your need, if you decide to go for a private one then do enough research to make sure you’re not at a loss and end up paying more instead of benefitting from it. Grants and scholarships are another great ideas because these will help lift the burden of some financial stress. When applying for grants and scholarships keep in mind these are offered free by federal organizations for the benefit of students. Make sure to take advantage of the situation but you have to prove worthy for these aids. Getting summer jobs will also help lift some of that financial stress because you can do it in your off time and not stress with studying or school work but catch up and save some money! The best ways for college students to cope with the stress of being away from home, social stress, and financial stress. Academic stress seems to be one of the most common among students. Most college students find that the added freedom of being away from the structure at home and the more difficult classes to be extremely stressful. Just remember try and create your own space for studying with a desk and a quiet place, if you have a noisy roommate find a nice place in the library or a nice local coffee shop to visit. Social stress also seems to be a major problem with college students. Trying to fit in and make new friends after leaving there comfort zone and support structure can be difficult. When starting at college try and get involved in activities to get you out and have a good time. Another great thing to do is get into some organizations to help meet new people and even become more outgoing to make the college experience more fun and less stress. Financial stress seems to be the biggest burden for college students trying to survive on your own and worrying about how you will pay for  school. Remember federal and private loans are a great way to lift stress off you but just do your research and find the one that will work best for your needs. Grants and scholarships are the best thing for most students because they are offered for free from federal organizations but you must prove yourself for these aids Summer jobs are great for students who want to make a little extra cash on the side and lift the stress and worry of college off their mind. B y following some of these tips you are sure to reduce some stress in your everyday college life.

Reflection Essay Example | Topics and Well Written Essays - 500 words - 37

Reflection - Essay Example ings for him in two basic ways; firstly, he developed a rift between himself, his colleagues, and his followers, and secondly, his wrong decisions led everybody into a trouble for which he was held accountable. It would not be so bad if the problem ended here; my leader would rationalize and try to defend himself on his wrong decisions rather than accepting his mistakes and moving forward taking everybody with him. I believe leadership is fundamentally affected by the type of personality traits and behavior one exhibits. In order to be a successful and strong leader, it is imperative that one builds good rapport with the colleagues and followers and serves as a role model for them. Ans. In order to change things for the better and become a strong leader, my leader needs to start working at developing good relations and rapport with the colleagues and followers. He can achieve this by having meetings with them, making them aware of his plans of action, intentions, and intended results, and how they would benefit the community and the institution as a whole. My leader needs to come out of his shell and socialize with his colleagues and followers, take them into confidence, and ideally, seek their advice and opinion in the future decisions. This requires a holistic change in the personality and behavior of my leader which is, in fact, not easy to achieve. However, certain steps may make this easier for him if he takes them. For example, he can read leadership books. These books are written by very experienced and knowledgeable authors who present practicable and expert opinions on ways to change one’s personality and behavior for the better. In order to develop my leadership skills to do justice to the role of a school director, I first need to brainstorm myself upon what exactly is a director of school and what are his responsibilities. Many books, articles, and blogs can be read to develop thorough understanding in this matter. Secondly, I need to assess my

Statistics for managers class discussion wk9 Coursework

Statistics for managers class discussion wk9 - Coursework Example The logistic regression model involved the development of an approximated multiple regression equations. The probability prediction that a customer belongs to a particular client group was the dependent variable. On the other hand, the measures of shopping behaviors of customers, represented as x1, x2, x3, . . . , xp, were the independent variables in the regression analysis. The independent variables included the day/hour of purchase, items purchased, and amount purchased. The logistic regression analysis was useful in the sense that it helped the marketers of dunnhumby to identify the most crucial independent variables as far as predicting customer population and customer group is concerned. In view of how dunnhumby applied the multiple regression model, the model can also be used in other business scenarios. For example, an automobile company such as GM Motors can use a multiple regression analysis to identify its customer shopping behavior, season of shopping, customer preferences, and customer experiences, for a particular model of car sold at a given price. It will help the company to produce and distribute the car that most consumers prefer in the largest quantity. Besides, Amazon.com can use a multiple regression analysis to determine the items that are bought most frequently by customers, the month that most customers visit the website to check the item, and the amount of items purchased within a period. Subsequently, Amazon will develop an interface that enables all customers to preview the featured item and perhaps buy it. Fundamentally, multiple regression analysis allows the determination of the connection between multiple independent variables and one depend ent variable. However, it has the major drawback that it makes assumptions that need to be checked. In addition, multiple regression analysis uses unknown independent variables to draw conclusions and make recommendations. Overall,

International War on Drugs Research Paper Example | Topics and Well Written Essays - 2500 words

International War on Drugs - Research Paper Example It is evidently clear from the discussion that the international war on drugs is a noble exercise that has been very controversial. However, the exercise has received mixed reactions and criticisms from various quotas, with some experts, on one hand, advocating that the exercise continues since it has attained tremendous objectives, while on the other hand, others argue that it has not been successful in reducing the illegal drug production, distribution, and consumption, but has only been successful in breaking ties between participating nations. In this regard, this research paper will unearth the benefits of the international war on drugs. Additionally, the paper will highlight the negative impacts of the war as well as whether the whole exercise has had adverse effects on international relationships between governments. In this paper I ask; is the international war on drugs been beneficial? Have there been economic benefits from both the illegal trade on drugs as well as the conf lict generated between participating nations? The Harrison Narcotics Tax Act of 1914 was the first law in the United States that restricted the distribution and usage of certain drugs. Moreover, the United States implemented the National Prohibition Act together with the 18th Amendment in 1920. These laws prohibited the trade, manufacture, and transportation of alcoholic drinks for national level consumption. Consequently, the Federal Bureau of Narcotics was established in the Department of the Treasury in 1930. In 1933, the U.S saw the federal repeal the alcohol prohibition Act. Although President Nixon coined the term War on Drugs in 1971, the United States government, still under President Nixon, had implemented drug policies under the Comprehensive Drug Abuse Prevention and Control Act of 1970, a continuation of drug prohibition policies that had started in 1914 in the U.S.

How and why age discrimination operates in the workplace Essay

How and why age discrimination operates in the workplace - Essay Example It is a tragedy that age is lessening down the value of precious minds in the workplaces. Today, workplaces prefer young, fresh minds; while, those with experience are considered as old and bogus. Age versus experience is a very interesting debate; however, this is also true that workplaces are getting modern enough not to give space to the elderly employees. The value of experience is getting less; and, the value of young, gorgeous, handsome and fresh looks are in demand in workplaces today. What effect this discrimination creates on the aged employees is another important issue, because it gives rise to hopelessness and despair among them. What is interesting is that age discrimination starts at around mid-thirties which is not that big an age. It is not ethical for an employer to discard, de-select, fire, or abuse an employer because of his growing age. Ageism, is a growing concept in workplaces, and employers need to give serious consideration to it if they want experienced minds to generate ideas that are free of error and ambiguity. Unless a critical job is under consideration, like that of a pilot or a policeman, age should not be an issue. Age discrimination may be light or severe. This ranges from abusive remarks to proper bully. Severity converts it into harassment, which is totally illegal since it creates a sense of hostility and disrespect in the workplace environment. It is also important to discuss who the discriminator is. In a workplace setting, the harasser bringing about age discrimination may be the leader of the organization, co-workers, general staff such as canteen boy, and even customers. This paper tends to shed light on this important issue. Some important UK and EU laws have been described to give an overview of what measures are being taken to eliminate age discrimination in UK and EU organizations. Past research has been discussed in great detail, which helps understand how frequent age discrimination is and what are its effects. A counter-argument has also been discussed in detail to give a critical analysis. The report has been summarized in a concluding paragraph, and Harvard style of referencing has been used properly both for in-text citation and references section. This report can prove to be a beneficial study for those who want an overview of age discrimination in the workplace. UK and EU Laws regarding Age Discrimination Equality Act 2010 The Equality Act 2010 has been presented by the Parliament of the United Kingdom. The Act is basically a unification and extension of already existing age discrimination regulations. It is in application since 2010 in all UK organizations. It not only protects older workers from discrimination at workplaces but also at other institutes like universities and trade associations (GOV.UK, 2013). Under this Act, older employees are protected in almost all matters related to workplace and job. This Act addresses both direct and indirect discrimination, and states that old age employees should be given equal opportunities of employment as young people, with the only exception that the employers have the right to reject or fire them if they have such a disability that hinders with their job performance. Employers are bound to make sure that the workplace environment is not hostile toward old age employees. They are bound to give them equal opportuniti

The world rate of diabetes keeps increasing mainly because of physical Research Paper

The world rate of diabetes keeps increasing mainly because of physical activities, high rate of stress, and high rate of obesity - Research Paper Example The deficit indicates an increase of 250 million people in a span of 24 years (McClaughlyn 1). The data shows a consistent increase in diabetes because of physical activities, high rate of stress and an elevated rate of obesity. Lack of insulin resulting from destruction of insulting secreting beta cells in the pancreas causes diabetes. An individual’s white blood cells attacks and destroys the beta cells rendering it unproductive in the protection against bacteria, viruses, and other pathogens. The condition frequently attacks children and young adults. Heredity plays a fundamental role in determining the manifestation of the disease. The parents pass the instructional genes making proteins essential body cell functions to their children. The genes determine the body’s susceptibility to and defense against type 1 diabetes. The corrective mechanism for this condition involves daily injections of insulin to make the victim survive. Lack of physical activities poses an influence in the rate of diabetes manifestation. Without sufficient involvement in physical activities, one develops conditions of overweight and obesity, which ultimately leads to the acquisition of Type 2 Diabetes. Overweight and obesity result from an imbalance occurring between caloric intake and burn out physical activities. The conditions cause insulin resistance that yields Type 2 Obesity. When a person has excess abdominal fats, he or she is at a major risk for insulin resistance and remains vulnerable to attack by other illnesses including heart diseases and blood pressure. High rate of stress enhances the prevalence of diabetes. Stress induces mental stress leading to the general unhappiness of the victims. The unhappiness and unstable mental condition lowers the productivity of individuals influencing the state’s economy negatively. Elevated levels of stress and mental upset indirectly affect an individual’s blood sugar levels making the affected to forget the usual diabetes

SWOT Analysis of Coca Cola and Pepsi Term Paper

SWOT Analysis of Coca Cola and Pepsi - Term Paper Example This paper seeks to compare and contrast the elements of business adapted by the two soft drinks giants, including PEST and SWOT analyses (Elsbach, 2006). Additionally, the paper analyzes the business culture, performance, and other organizational elements of the two giant organizations. Coca Cola and Pepsi share a similar history: an insignificant business from a simple idea that grows to a multi-billion dollar company after a century. Currently, Coca Cola sales in more than 160 countries to over 6 billion people speaking more than eighty different languages. Similarly, Pepsi is a recognized brand in the whole world, operating in numerous countries and actively competing with Coca Cola for market share. Both organization use mass-marketing strategies, focusing on the entire market rather than particular segments. Moreover, both companies offer similar product line to the same industry, thus propagating stiff competition. Both companies are very innovative as far as product packaging is concerned. Coca Cola introduced the airtight bottle concept, a major revolution of in the packaging and bottling industry. Similarly, Pepsi followed suit and introduced different sizes of returnable bottles (Fernando, 2006). The concept of non-returnable bottles, frosted bottles, and cans is attributable to both the giants. SWOT Analysis of Coca Cola and Pepsi Strengths Both Pepsi and Coke have long history of the world culture for quite some time. The products from the two companies represent over-romanticism and fun, an image that majority of people take deeply at heart. In addition, the brands are well recognized throughout the world, a major strong point. This enables them to operate on the global market while maintaining a local approach. Independent business people with authority to sell and distribute Coke and Pepsi products operate and own majority of the local bottling companies. Indeed, Pepsi and Coke have among the largest distribution networks in the world, which is among the strengths of the two companies (Fernando, 2006). Weaknesses Similar to any other businesses, Coke and Pepsi have their own weaknesses. For instance, the cola drinks from the two companies have experienced a significant saturation and subsequent decline in the past few years. This is attributable to the increasing awareness on the contents of the drinks. Nowadays, consumers are more attracted to healthy drinks than carbonated soft drinks, as addiction to cola drinks has an adverse effect on the human body (Czinkota, Ronkainen, and Moffett, 2009). Opportunities One of the factors affecting the competitive positions of Pepsi and Coke is brand recognition. About 94% of the world populations are aware of the two brands. Despite the saturation in North America, the two brands have enormous potential to expand and operate in non-North American market. For instance, per head consumption of Coke in India is only six bottles per head compared to 700 bottles in the United States. The refore, the two companies have potential for expansion (Oppong, 2011). Threats Being the industry leaders, the two companies face significant threats from emerging companies in the industry. Moreover, the companies are facing serious threats of substitute. Consumers are more attracted to healthier drinks, including coffee, tea, milk, hot chocolate, and milk. Nonetheless, the two giants control over 40% of the

Market efficiency Assignment Example | Topics and Well Written Essays - 2000 words

Market efficiency - Assignment Example Private market efficiency refers to the measure of access to information that market players can use to maximize their gains on investment at a minimum transaction cost (Jarrow & Larsson , 2011). Market efficiency widely known as the Efficient market Hypothesis (EMH) and introduced by Eugene Fama in 1970 stresses that market prices is a reflection of all the available information to the investors regarding a particular stock at a particular time of trading. According to Fama‘s interpretation of an efficient market is a situation were no individual investor has an advantage over others in predicting excess returns on securities above the existing market price (Jayasuriya, 2008). This claim is based on the premise that at any given time no one will have information over and above what is available to other players. The information necessary to make judgment is often readily available to all players at the time of trading and for this reason no individual player can beat the marke t. Valuation of investment is the main determinant of whether a market is efficient or not and where the inefficiencies are evident. An efficient market can be determined through market prices considering that it is only estimate for measuring deviation from true value (â€Å"Market Efficiency†, 2011). This is because an inefficient market will only be determined by market price deviation from the true value. Efficient market must be supported by a number of conditions most of which revolved around valuation and information availability for it to take place. The is means that information and market prices are integral components of market efficiencies consider that investors make investment strategies based on the information they have assuming that at a given time traded assets(s) are under or overvalued (Yang & Leatham, 1998). The market prices in an efficient market are often unbiased estimate of the asset’s true value and they are expected to shift randomly dependi ng on the behavior of the investors. Investors play a significant role in bringing efficiency in private markets considering their diverse reaction to available information. A number of conditions need to take place in the private market place in order for efficiency to be achieved. In other words, market efficiency does not happen automatically as certain forces drive it. The first condition is the existence of profit maximization investors (â€Å"Market Efficiency†, 2011). Investors will always try to take advantage of every opportunity that comes their way to make profits. This is often based on the perception of the investors that the market is inefficient and one can leverage on the inefficiencies to beat the market. In other words, the investors must recognize the potential for bigger returns, replicate their beat the market strategies and invest their resources repeatedly until the end of inefficiency (Lee, etal, 2009). The more the investors continue to actively parti cipate in trading activities the more likely they create market efficiency. For instance continuous sale and purchase of stocks will always have a double edged impact considering that market prices can be pushed above or below fair value at every point in time. This makes it very difficult a single or a group of investors to predict the existing undervalued stocks irrespective of the applied investment strategy. The timing and nature of the information available to the investors is also another important condition for achieving market efficiency. Information availability is an integral part of market efficiency considering that an efficient market is defined based on the kind of information that is reflected on the price and available to the investors. Take for instance a strong form efficiency which is exudes that under such a circumstance an investor with insider information will not be able to make excess gains over other because the market prices reflects all the information bot h private and public. It is noteworthy that market efficiency

Marketing Myopia and article critiques Essay Example | Topics and Well Written Essays - 1000 words

Marketing Myopia and article critiques - Essay Example Levitt spoke of the ‘Error of Analysis’ whereby, the company defines its scope inaccurately and is unable to grow because it has restricted itself. Companies tend to stop growing, not because of fall in demand or increased competition, but because they were mismanaged and failed to realize their own potential and the opportunities that would have come with it had they managed themselves properly and expanded their horizons, instead of having a very myopic view about their business. He gives the example of the railway, which has steadily declined over the years as other vehicles become mainstream transport. This failure is not because the demand for rail travel declined, it is because they had a â€Å"product-oriented instead of customer-oriented† approach (Levitt, 1960). In the same vein, the TV business is bigger than the film business ever was, just because Hollywood restricted itself to movies by categorizing itself as being in the film business and not the ent ertainment business and massively restricting its horizons. To explain the reverse side of the argument, TV is a success story because it has not restricted itself to one category. ... Levitt talks of the ‘Shadow of Obsolescence’ whereby companies stop growing once their products lose the sparkle, this often happens when a specific feature of their product that was supposed to have been bringing in the demand, becomes outdated and easily substituted by competition with time. He gives the example of the dry cleaning industry. Once thriving because it provided an effective way to clean wool garments, the industry is now dwindling as synthetic fibers replace wool, ones which are easier to clean and the dry cleaning industry becomes obsolete due to innovative products such as automatic washing machines. Another mistake is the ‘Population Myth’ whereby companies assume that a growing population is synonymous with a growing market demand and the ‘Idea of Indispensability’ whereby companies think they are safe from competition because their product is irreplaceable. This lulls them into a false sense of security and they end up funct ioning under a complacent strategy. An example of this scenario is the petroleum industry; due to its elaborate success throughout its history the petroleum industry has become complacent in its strategy and assumes safely that as long as the world’s population keeps growing, its customer base will forever increase. Complacency however, makes the industry myopic to the fact that many people are now becoming environment conscious and are interested in adopting alternative forms of energy that do not pollute, unlike petroleum products. Another mistake is due to ‘Production Pressures’, since companies are so engrossed in meeting production quota deadlines they lose focus of their

Piaget Stages of Development Essay Example for Free

Piaget Stages of Development Essay Child development undergoes various stages from infancy to adulthood. This process of development is called by various psychologists as â€Å"progression through development† to which, age is often attached on each developmental stage. The first stage is called the infancy stage which is from birth to one year during which the physical and psychological occur most rapidly. In Piaget’s developmental theory, the child’s development during this stage is called â€Å"sensorimotor† because the child’s behavior at this stage is mostly simple motor responses to sensory stimuli† (Kalat 170). The stage of toddlerhood which is from one year to three years old is partly connected with infancy stage because as Olga Drebben asserts, â€Å"in these early childhood stages, the infants and toddler’s growth and development include very multifaceted processes of physical, cognitive, and psychosocial transformations. Drebben affirms that the primary modes of infant and toddler are sonsorimotor. The childhood stage or as Piaget calls it, the â€Å"preoperational stage of development† is the stage in which children are subject to externally imposed rules and adhere unquestioningly to rules and the directives of powerful adults. In this stage, peer relationship is an important factor towards constructing a self separate from others and towards developing the capacity to think in terms of other peoples’ attitude one self. Deutsch, Coleman and Marcus stated, â€Å"Equal peer relationships give children a chance to experience reciprocity which greatly assists them in perspective taking and problem solving† (Deutsch, Coleman, and Marcus 359). Adolescence stage on the one hand, is seen to takes place at the beginning of puberty or from 10 to 12 year for girls and 12 to 14 years for boys and end and at the age of 18 for girls and 21 for boys. While psychologist admits the lack of precision as to age limit, this stage â€Å"assume more responsibility for personal attainment and well being† (Arnett 168). It is also the stage to earn a living and a time when interest in fun increased. The stage of adulthood on the other hand are divided into three; early, middle and senior adults. The early adulthood which starts at age 21 up to 34 years, is concern on being able to engage in intimate relationships and in finding more satisfying work. This stage is also period of focusing on long term goals, nurturing other physically, finding a meaning in life, and developing a tolerance for delayed gratification to meet long-range goals (Corey and Corey 88). The middle adulthood ages 34 to 49 is regarded as the period of reassessment of one’s work satisfactions, of involvement in the community and of accepting choice made in life. According to Gerald and Marianne Corey, this period of life is a time for â€Å"solidifying one’s philosophy of life. The senior adults 50 to 64 are regarded as the beginning of the wisdom years. This period is characterized as the time for serving the community and planning for work transitions and retirement. Finally, the elderly, 65 years onward is the time â€Å"to find new levels of meaning in life and to appreciate what one has accomplished† (Corey and Corey, 89). This stage is a period of physical weakness because it is a time of diminished strength and increased dependence on others. Of all these stages, the development stage that is more susceptible to schizophrenia are the early adulthood ages 21 to 24 for men, while 40 and above for women. This is because the vast majority of the onset of this disease â€Å"falls within the interval of 15-54 years of age (Hirsch and Weinberger, 215). Steven Hirsch and Daniel Roy Weinberger noted that onsets of schizophrenia in men â€Å"peak steeply in the age group 20-24† (215), and it slowed down at lower level thereafter. This onset for men is the reverse for women above forties. The stages that are more prone to Alzheimer are definitely middle adults, senior adults and the elderly because this disease takes place during these stages of life. Question 2. Two of Piaget’s universal developments are the sensorimotor stage and the preoperational stage. The sensorimotor development stages starts from birth up to the end of the second year. Also called the neonatal stage, it is the period of development when the infant where simply a passive being that acts with out any systematic goal. Sensorimotor stage is the development of the child that includes intelligence based on perceptual experiences such as reflexes from 0-1month, primary circular reactions from 1to 4 months which is a repetition of certain pleasurable behaviors and formation of habits, secondary circular reactions 4 to 8 months, the coordination of secondary schemata and so forth. An example to this is the hand exercises. The child can follow simple instruction to close or open his or her hands as this is pleasurable exercise, during the infancy stage. But when the child is over one year old he can already follow basic instruction with basic understanding. Preoperational stage on the other hand begins at 2 up to 6 years of age. Salkind implies that Piaget’s preoperational stage of universal development is the progression of the infant from a reflexive organism to towards understanding of the symbolic world (248). Michie Swartwood and Kathy Trotter pointed out that in Piaget’s preoperational stage, the key feature of children’s thinking â€Å"is symbolic representation† (69). Swartwood and Trotter cited that during this stage, the child is able to use symbol, an object, or a word to stand for something else (69). Thus, though preoperational stage occurs right after the sensorimotor stage terminates, the child experiences tremendous progress during this stage. An example to this is the ability to follow simple instruction not to touch this or that, or that, on the ground that it will harm him or her, or that it will hurt him. In comparing both stages of development the child acquires certain degree of progression before each stage terminates. Both stages also display some degree of intelligence as the child now learns a lot of things through his or her experiences. But these stages also differ on some grounds. First, children in the sensorimotor stage do not think symbolically, while in preoperational stage they do think symbolically. Second, in the sensorimotor stage, the â€Å"child is limited to direct interaction with the environment, while in the second stage, the children learns to â€Å"manipulate symbols that represent the environment (Salkind, 248). In general however, both these stages show the child’s remarkable and development. Question 3. Some of the major stress that I am dealing with in my everyday life are first and foremost are the pressures from deadlines that must be met. This creates tension in me especially when I am running short of time. Biased treatment and sexism are also a great source of stress because it angers me. I really hate these things and I felt stress every time I encounter it. Some minor stressors however that I encounter everyday are the peer pressures. Peers insistences of something I do not like create pressures on me. Stern and unsmiling faces also s a source of stress especially those I meet daily. Some of the coping skills that I learned over time to keep the minor stressors from becoming major issues are; first, to ease my self of being too competitive. I learned this skill after I realized that I do not actually need to compete with my self. I simply need to make a list of priorities and take things at a time based on the priority list. Second, is to be friendly. I just realized that there is nothing wrong to great people with a smile regardless of how they would respond at me. I realized that by doing this, I could prevent the minor stress from becoming a major stress as I actually overcome it. Question 4. Schizophrenia is a disease. It is a chronic disease and severe mental disorder with a typical onset in adolescence and early adulthood and a lifetime prevalence of 1%. Dwight Evans cited that on average â€Å"male have their illness onset 3 to 4 years earlier than female† (78). Schizophrenia is not a developmental disorder but a chronic mental disease. The four type of schizophrenia are the following, paranoid, disorganized, catatonic, and undifferentiated. The characteristic and symptoms of paranoid are hallucinations and delusions. In the disorganized type, it symptoms and characteristic are reflected by disorganized speech, disorganized behavior, and inappropriate affect. The catatonic type manifest clinical syndrome such as excessive purposeless motor activity, extreme negativism, peculiar voluntary movements and so on. The undifferentiated sub type is diagnosed when the patient â€Å"does not meet criteria for the previous type yet does meet the criteria for schizophrenia† (Maddux Winstead, 182). It is more likely that schizophrenia has a genetic cause than environmental. It is quite common that when there is schizophrenia in the family, it is passed down to another member. Thus this disease is called â€Å"psychobiological† illness amenable to chemical intervention and modification of the environment. An example to this is when a person is exposed to violence and all other abuses since birth, he has the tendency to have psychological trauma which causes schizophrenia. Question 5. One incident that happened in my lifetime was when I read the story about a plane crash killing all the more than two hundred passengers. After I read the story, I was shocked and I developed psychological fear regarding boarding an aircraft. Psychology fit in this scenario because I knew pretty well that it was simply an accident. In this experience, I developed some fear as it would always come to my mind that this plane might crash too. But as I came to realize, accident happens anywhere to anybody, at any given time and cause. Since I cannot prevent it nor predict it, the best thing to do is to just be very careful and avoid those that I can, but those that I cannot; I just leave my fate in the hands of God. The connection here between psychology and life is that, life is real; we should rather be practical and realistic than be overcome by fear and anxiety about our bad experiences. Question 6. I have incorporated in my work of art elements of psychology through my use of colors and designs. In using bright colors, I usually expressed strong emotion such as anger, or fear, or other emotions. I also incorporated psychology in my designs such as shapes that expresses meanings like lovely ideas or joyful situations. I will incorporate them in the future in the same way I incorporated it the last time with perhaps some improvement or modification. I could connect the process that I go through as an artist with psychology through putting meaning on my experiences in the light of what I have learned about psychology. That is, I must seek the context of what I am trying to portray to which I labor so much. It means that my work of art should be reflective of what life is, of the emotions, such love, fear, and other strong feelings that we often encounter or should I say, that always experience on a daily basis. Finally, one influence that will mesh with my future work of art is those that wear green colors, or things that are green. I am fascinated by this color and this influence in me can help meshed up with my future work of art. Work Cited Arnett, Jeffrey Jensen. International Encyclopedia of Adolescence, Volume 1 USA: CRC Press, 2007. Corey, Gerald Corey Marianne Schneider. I Never Knew I Had a Choice: Explorations in Personal Growth USA: Cengage Learning, 2006 Deutsch, Morton; Coleman, Peter T. ; Marcus, Eric Colton. The Handbook of Conflict Resolution: Theory and Practice USA: John Wiley and Sons, 2006 Drebben, Olga. Patient Education in Rehabilitation USA: Jones and Bartlett, 2010 Evans, Dwight Treating and Preventing Adolescent Mental Health Disorders: What We Know and What We don’t Know New York: Oxford University Press Hirsch, Steven Weinberger Daniel Roy. Schizophrenia Great Britain: Wiley-Blackwell, 1995 Kalat, James W. Introduction to Psychology USA: Cengage Learning, 2008. Maddux, James Winstead, Barbara. Psychopathology: Foundations for a Contemporary Understanding USA: Routledge, 2005. Salkind, Neil J. An Introduction to Theories of Human Development USA: Sage Publications, 2004 Swartwood, Michie Trotter, Kathy. Observing Children and Adolescents: Student Workbook USA: Cengage Learning, 2004

Acute On Chronic Cholecystitis Attributed To Cholelithiasis Figure Biology Essay

Acute On Chronic Cholecystitis Attributed To Cholelithiasis Figure Biology Essay Figure 1 displays an acutely inflamed gall bladder (Cholecystitis) specimen. There are several gross features associated with acute cholecystitis; most apparent is the cholesterol stones filling the fundus and neck regions of the gallbladder (Cholelithiasis). The stones sizes suggest the chronic nature of pathogenesis, and their off-white colour indicates high proportions of calcium and phosphate salts (1). Further morphology relevant to the pathology is that the gallbladder is enlarged, with thick walls. This specimen is 15cm long, 5 cm wide, and its walls are about 1cm thick (compared to the usual dimensions of 7-10cm, 2.5cm, and 3mm respectively (2)). This owes to both the effects of acute and chronic inflammation; the thick, fibrous wall is indicative of a history of previous inflammatory episodes (due to intermittent oedema, fibrosis and leukocyte infiltration of the tissue layers). There are also the acute signs of red-grey blotchy discolouration due to a mixture of necrosis an d haemorrhage, in the mucosal and submucosal layers (1). Expected Microscopic Appearance: A biopsy of the specimen would include all the signs of acute (and chronic to a lesser extent) inflammation. Extensive fibrosis (formation of collagen fibres) will be the key visible feature, as well as amounts of fibrous scar tissue from previous healing. Leukocytes (mostly neutrophils and lymphocytes) will be seen infiltrating the mucosal and sub-serosal layers, as well as a small amount of monocytes. The mucosa will be atrophic (flattened) as a result of the inflammation, but there will also be proliferation of the epithelial cells in an attempt to repair itself. Some sections of mucosal folds may even fuse to form distinctive buried crypts of epithelium which lie below the mucosa, called Rokitansky Aschoff sinuses. Dilation of blood vessels and some haemorrhage (scattered erythrocytes) should also be visible (1). Pathogenesis Cholecystitis is intimately linked with gallstone (cholelith) formation (an estimated 90% of cases occur due to cystic duct/gallbladder neck obstruction by cholelithiasis (2)) and thus an understanding of the pathogenesis for cholelith formation is relevant. Figure 2: General risk factors contributing to gallstones 1 recent discovery; gene for ATP-binding cassette (ABC) transporters (1) (see text)The major prerequisite for cholesterol gallstones is an imbalance of cholesterol and bile salt levels in the biliary secretions specifically, excess cholesterol (1). Figure 2 mentions some of the main risk factors that contribute to this. Oestrogens increase cholesterol uptake in liver as well as synthesis by increasing the amount of hepatic lipoprotein receptors and by increasing activity of HMG-CoA reductase enzymes (key regulators of cholesterol biosynthesis). Blood cholesterol lowering drugs have a similar effect on these enzymes, in addition to reducing cholesterol conversion to bile. Recent studies have shown that having a certain variant (D19H) of ABCG5 and ABG2 genes coding for ATP-binding cassette transporters adds further risk for gallstones, because it biosynthesises more cholesterol (1). Once cholesterol concentrations are too high for bile salts and phospholipids to accommodate (supersaturation), the cholesterol nucleates into solid plate-like crystals (cholesterol monohydrate). These are formed more frequently when there is decreased contractility or movement of the gall bladder (gallbladder stasis) as well as high secretions of mucus. Finally, the prolonged simultaneous occurrence of all of these conditions causes the crystals to aggregate further into macroscopic cholesterol stones, such as in Figure 1 (3). Figure 3: Key events leading up to inflammation of the gallbladder. Note: Red arrows showing secondary events that occur later on.Acute cholecystitis nearly always results from gallstone obstruction of the cystic duct (1, 4). Obstruction at the neck raises the pressure within the lumen, resulting in three things; venous congestion, reduced lymphatic drainage, and decreased blood supply. The walls of the gallbladder then release prostaglandins (E2 and I2) to bring on inflammation. Lysosomic phospholipases released from cell injury hydrolyse biliary lecithins to lysolecithins (toxic) these create further injury by disrupting the mucosal protective glycoprotein barrier and allowing bile salt damage at exposed areas (1). Figure 3 summarises these events. Note that bacterial infection can occur later on (4). Clinical Features Symptoms and Signs: Most patients present with sudden onset of right upper quadrant (RUQ) or epigastric pain, as well as a history of previous episodes of pain (4). Intolerance for fatty foods, anorexia, vomiting, and tachycardia are the usual signs associated with acute cholecystitis. Leukocytosis may be present, and hyperbilirubinemia indicates obstruction of the common bile duct (1). Palpable tenderness and a positive Murphy sign (during inspiration gallbladder is palpable and patient winces from pain) confirms cholecystitis (3). Methods of investigating patient: Ultrasound (US) is the ideal and preferred imaging technique for diagnosing acute calculous (presence of gallstones) cholecystitis, owing to its sensitivity of 80-100%. However, US is less effective for obese patients, and new studies show that recent advances in magnetic resonance imaging (hardware, software, and contrast media) have made it the most accurate imaging technique for the gallbladder (with a sensitivity of 95% (2)). General approaches to treatment: Upon confirmed diagnosis, patients will firstly be given fluid resuscitation, analgesics, and broad-spectrum antibiotics. Laparoscopic Cholecystectomy is the standard definitive management for acute calculous cholecystitis, and is proven to be effective (4). This is now performed preferably within 12-24 hours (decreasing risk of complications), rather than the previous practise of waiting up to 3 days for inflammation to subside before surgery (2). Often, surgeons will need to change their procedure to an open cholecystectomy; especially when there is uncertainty of the anatomical variants of a patient (4). Features bearing on prognosis: The work of Gurusamy K. et al. [5] has found that laparoscopic cholecystectomy is generally very safe. Potential complications include bile duct injury (potentially fatal), infection, and bile leakage, but this affected only 1 of 222 study participants (0.5%). The average hospital stay was 4-7 days, and time needed for full recovery ranged from 15-26 days. Apart from this, quality of life is not reduced [5].

Impact Of Recession On Business Of British Airways Commerce Essay

Impact Of Recession On Business Of British Airways Commerce Essay The global economy is experiencing problems ever since. There have been notable economic recessions in international business history. These recessions were managed in a variety of ways depending on the strategies which were implemented on a business-to-business basis. Each international company have intensified their efforts in order to come up with a variety of strategies which are geared towards the implementation of business policies and practices aimed towards the reduction of the impact of economic problems in the performance of their business. Depending on the extent of damage that the recession has caused the financial performance of a particular company, they have differing efforts in terms of redirecting their strategies and goals just to be able to combat the adverse effects of this economic downturn. Some efforts have proved to be effective. Unfortunately, some proved to be not effective which even forged some businesses to shut down or to merge with other businesses in o rder to battle the survival of the fittest in the environment of the worlds toughest businesses. In the field of economics, the term economic recession is described to an incident in the situation of a country wherein the gross domestic product reflects a negative growth in a period of at least two consecutive quarters  [1]  . Given the fact that the United States is the global leader when it comes to the consumption of goods and services, once this country experiences the phenomena of the recession, such will send shockwaves to the global economy and will inevitably affect the other countries in the world. When the United States experienced the phenomenon of the economic recession, many countries have been affected and their economy also experienced a downturn as the financial crisis hit their respective areas and shows effects which are negative to the business. Furthermore, in a scholastic work published by Leamer (2008), he stated that it is not enough that we only take a look at the two consecutive quarter negative growth of the gross domestic product in order to define recession. In his work, he mentioned that recession according to the National Bureau of Economic Research refers to that situation wherein there is a significant decline in activity spread across the economy, lasting more than a few months, visible in industrial production, employment, real income, and wholesale-retail trade. Such definition of the concept of economic recession takes a broader look on the phenomenon rather than paying dedicated attention on the decline of the nations gross domestic product. There are other academic works which contest the inclusion of only the gross domestic product in understanding economic recession. The occurrence of recession is not primarily concentrated only on one sector of the economy that is why there is a need to take a look at economy-wide measures in order to fully understand the theory which lies beneath such economic activity. The committee also holds that there are four indicators which wil be useful in understanding economic recession including employment, personal income less transfer payments, and volume of sales of the manufacturing and trade sectors, and industrial production.  [2]  This concept strengthens the assumption that understanding the occurrence of economic recession cannot be full by only looking at the gross domestic product, rather it also entails an understanding of other economic variables which may prove to be just as useful in understanding recession. The occurrence of every recession in the global economy can be characterized by the painful increase in the rate of unemployment and a decline in the personal income of the citizens of the nation  [3]  . Such aspects should not be disregarded in order to understand the realizable signs to claim that the economy is in trouble and it is in fact experiencing the occurrence of recession. In 2001, when economists claim that the United States is experiencing economic recession, such signs have been visible in their business performance. Although the occurrence of such has been hard to accept, there is no way but to do so to move on with global business. As mentioned earlier, to fully combat recession, various strategies have been formulated in order to improve business performance with the objective of bringing in additional profit for the company to provide a better living on its employees. While some efforts have proved to be useful, it is very unfortunate that some caused more troub le and resulted with a number of companies shutting down, especially the small ones and those which were hardly hit, causing a big number of employees to have lost their jobs. In the course of this paper, the researcher will study the concept of recession, including the variety in its definition and the signs which will be indicative of the economic trouble. While studying the concepts which underlie recession, the researcher will study the case to the situation faced by the British Airways, one of the worlds providers for air travel. Just like any other businesses, it cannot be denied that British Airways also experienced recession. The paper will examine how the company faced these problems, including the strategy which it has formulated to combat recession and also the long term effect which were brought about by the recession. RESEARCH PURPOSE As what has been mentioned, economic recession is a global phenomenon. The United States is a global leader in business, any economic downturn in the country will send shockwaves all over the world, affecting every local market. The main purpose of this research is to take a closer look on the impacts of global recession in the economy of United Kingdom, specifically in the business performance of British Airways. In the course of the research process, adhering to its main purpose, various economic indicators will be studied to know how it leads to the occurrence of economic recession. Furthermore, the core of the study will be focused on the business of British Airways and will look at how recession affects its global business in terms of sales, profitability, and sustainability of the business in the global market. RESEARCH QUESTION To fully understand the study, the researcher will be guided with several questions which will shape the foundation and backbone of this paper. The research questions will guide the researcher to be able to achieve desired results of this study. One of the questions which the research will try to answer will be those associated with recession itself including how it occurs, historical background, what are the signs and indications that the economy is indeed experiencing recession, and its variety of effects on different businesses globally. Moreover, with much more intensive focus, the research intends to answer question regarding the business performance and status of British Airways in the global market. The study will answer questions including those associated with the indications that the business of British Airways is indeed affected by economic recession and what are the efforts including business strategies and redirection of business practices done by the company to combat the inevitable effects brought about by recession. The main question which the research will consider will include main focus on the significant effects of recession with British Airways in terms of sales, profit, and sustainability. RESEARCH STRATEGY AND DESIGN The design of research which will be utilized in the conduct of this study will be a conclusive research. The researcher opted for this research design because of the belief that such design will be the most useful and most appropriate in the process of gathering relevant information and in provision of the effects which the occurrence of economic recession has brought in the business of British Airways. The conclusive research is a formal and structured research in which data will be subjected to quantitative analysis  [4]  . By quantitative analysis, the research will make use of presentation of relevant figures especially those related to sales and profit in order to fully grasp the effect of recession in the business. Moreover, the type of conclusive research which will be utilized in the study is descriptive research. Descriptive research is one of the two types of conclusive research wherein the major objective is the description of something, which normally refers to marke t functions or characteristics. In the case of this study, the researcher will describe the characteristics of the market of British Airways as reflected by the obvious results of economic recession. This will be made possible by providing a picture of the current situation of the company in the global landscape. The major assumption in which the research will operate is that these characteristics are brought about by the inevitable effects of global economic recession in every international business. It will include the description of various groups related to the critical operation of the business such as the consumers, salespeople, organizations, and the market areas. Through a description of these relevant groups, the researcher will find it easier to provide a look at the effects of recession as shown by the people who were affected the mostly by the occurrence of such situation. Such research design is also expected to provide an association of to until what degree is marketin g variables associated with such economic situation. The research strategy will attempt to answer the 6 Ws which are associated with the conduct of a descriptive, conclusive research. The first is concerned as to who were considered the market of the business, which pertains to the bulk of passengers flying through British Airways. Another one will be what information are relevant and can be obtained on these passengers such as on why, if ever, they no longer fly the said airline. The research strategy will also attempt to delve into when such incident began to happen, where, and why it leads to such situation. Lastly, the chosen research design will also provide information as to the ways in which the company combats the recession. RESEARCH METHODOLOGY The research methodology will include data collection and analysis which will provide a better understanding of the issue at hand. Because of the difficulty of obtaining first hand information from the groups which are directly concerned with British Airways including its market of passengers and the authorities or business divisions which are associated in the performance of business, the data will mainly come from secondary sources which will provide the backbone of the study. The primary sources of information will be useful in this study because they can provide first hand information on the problem because they have a direct connection to the business. Nonetheless, such will be hard to obtain and will entail dedicated time to be extracted. With that, the researcher opted to make use of secondary data sources which will also provide the same quality of information as primary data. The secondary data which will be collected in the purpose of this study will include those information extracted from secondary sources such as books, academic journal, scholastic articles, and information which will be derived from the website. It will include sources such as annual company reports and financial statements which will show relevant quantitative information which will prove the claim that the occurrence of economic recession has indeed affected the business operation of the company. This information were previously collected and used for other problems, other than the topic of the researcher. Nonetheless, to be assured that the use of such data is valid, the researcher will see to it that those data were used on studies which are of the same context as to that of this research. These data will be carefully analyzed, including methods to verify the veracity of the sources and steps to assure that the data are genuine and indeed reflective of the situation of the compan y. There is a need to careful select the sources so as to be assured of relevant information usage. A thorough analysis of these data will assure the researcher of a more coherent study with findings which are true. The data will be analyzed to derive information relevant to the economic situation and to input actual variables in business operation. If these data are not carefully analyzed, a weak research will result. With that, the researcher will put an utmost importance to data analysis to be assured of reaching the purpose and objectives of this study as these data try to answer the relevant research questions. VALIDITY AND COHERENCE Aside from a careful analysis and presentation of information relevant in the completion of this research, the researcher also puts an unwavering emphasis on the validity and coherence of the information. This means that the data which will be presented must reflect only what is relevant or essential in the study that is, economic recession and will omit information which are invalid, or those which are related to variables other than recession. The data must be also coherent with the purpose of the study to avoid deviance from the topic at hand. REVIEW OF RELATED CONCEPTS AND THEORIES Currently, British Airways is celebrating 90 years of flying with pride, providing its wide array of clients with excellent services on their flights resulting to ultimate customer satisfaction. To fully understand the current business of British Airways, it is also of utmost importance that we take a closer look at its extensive history. The very beginning of the rich history of this airline can be traced back as early as the beginning of the history of civil aviation pioneering on the days after thee First World War. After a period of 90 years since the worlds first schedule air service which happened on August 25, 1919, there have been a lot of changes in terms of air travel. Each decade was marked by new innovation and developments which brought British Airways into its current position in the global market. The first decade of the operation of the company was marked by launching the worlds very first international scheduled air service which flew between London and Paris. The se cond decade, however, was characterized by the merging of Britains four major fledging airlines to provide a better service to the flying public. On the other hand, the third decade was marked by the merging of small air transport companies in the United Kingdom to form the British Airways Limited which became the primary competitor of the merger formed by the four companies during the second century. Furthermore, on the fourth, fifth, and sixth decade up to the present of the companys operation, more and more innovations had been on the rise to make the airlines known in the global market in terms of provision of excellent air services  [5]  . It is said that British Airways is United Kingdoms largest international scheduled airline with flights to 148 key destinations globally at best located airports. It is also said to be one of the leading scheduled premium international airline in the world. The principal business of the company is in the airport in Heathrow, which is one of the premiere airports in the world and serving a relatively large geographical area. During the end of the year 2009, it is said according to company statistics that they have already flown a total of 33 million passengers in different key destinations globally. During the same year, the company said that they have earned nearly a total of  £9 billion in revenue which was almost 2.7% higher than the revenue which they have generated in the previous year. The traffic of passenger is said to have accounted to 87.1 per cent of the total revenue, 7.5 per cent is attributed to airline cargo and 5.4 pr cent is constituted from other business activitie s of the airline  [6]  . The main activities which were carried out by British Airways in the course of its business operation include undertakings on both local and international scheduled air services involving carriage of the traveling public, and freight and mail and provision of ancillary services. The fleet of the company operates in different places in the global landscape with 38 networks in the America, 9 in the United Kingdom, 67 in Europe,12 in Middle East and South Asia,15 in Africa and 7 in Asia Pacific. These networks of operation of British Airways only go to show that the company has intensified operations all over the globe. Such also connotes that once economic trouble comes along the way of their operation, it is indeed inevitable that the global operation on these locations will also be dramatically affected  [7]  . The occurrence of global recession has affected global markets and brought about bad performance for every global business. One of the most significant years in which the recession was felt in the global market was during the year 2001. When the World Trade Center bombing happened, the economy of the United States suffered and it sent shockwaves to different local economies which affected the global market as well. The effects brought about by recession did not only last during that year. Until the present, the effects of the said recession can still be felt by some while others have already recovered from the economic downturn in terms of realizable increase on their sales and profit. During the first month of 2009, it was declared that Britain was experiencing recession  [8]  . While some are actually trying hard to escape the adverse effects of recession, unfortunately for Britain its effects were highly realized and very visible in their economy. This was said to be one of th e most unfortunate events in the history of the countrys economy since the 1990s where it experienced the adverse effects of the episode of economic recession. When the British economy was declared to be officially in recession during January 2009, the Office for National Statistics announced that the gross domestic product of the countrys economy showed a decline of 1.5 per cent during the last quarter of the year 2008 and a .6 per cent drop during the previous quarter. Following the definition of recession, which connotes two quarters of consecutive drop in the gross domestic product of the country, such statistics would have been enough to show that indeed the British economy is suffering from a recession, just like most economies in the global landscape. Prior to this occurrence of recession, the biggest drop in the gross domestic product of Britain is said to be during the 1980s. The recession brought about in Britain is said to be because of the direct result of the credit crunch in the global market in which manifestations were seen and felt as early as August 2007 and seen to be worsening during the autumn of 2008. The central probl em is said to be the banks operating in Britain which is said to have invested their reserves into assets which were assumed to be illiquid, unsafe, and worthless. This uncertainty in the economic situation is said to be damaging into different businesses in Britain for reasons including: lack of credit opportunities which resulted into the companies weakened abilities to hire workers, make new investments, and start innovative projects. This prompted various economic activities to slow down and cut back on the two main drivers of growth which include investment and employment  [9]  . Although recession was just declared in Britain during the year 2009, the early effects of such economic occurrence have been already felt by British Airways during the year 2001 in which the economic downturn in the United States have sent shockwaves towards other economies in the globe. During the 2001-2002 Annual Report which was released by British Airways, it acknowledges the fact that they have been on a bad year of operation as shown by their sales and profit margins. In the statement of the chairman of the company during that year, it showed that the company incurred a pre-tax loss of 200 million pounds compared to the previous year in which they registered a profit amounting to 150 million pounds. To add to the consequences of the economic downturn, no interim dividend has been paid and the Board also recommended not paying any final dividend because they have been operating on a loss. The disappointing financial report in their annual operation that year did not at all surp rised the shareholders for it was somewhat expected because of the obvious situation in the global economy. That year was also regarded as the worst in their operations, although it has not been the most difficult by far for the management. On that same year, the people working behind the company were also affected. There has been a significant 20 per cent reduction in the workforce of the company brought about by thee economic crisis. Nonetheless, this reduction was done on a voluntary basis such as through elected severance and early retirement  [10]  . Moreover, also on the annual report for the year 2002, the Chief Executive Officer of British Airways strengthen the assumption that the company is experiencing financial crisis as brought about by the global recession. They considered that year to be the toughest in the history of their business and they also considered it as an impact of the terrorist attack in the United States affecting the general of the global economies. In their efforts to bring back the company in the landscape of profitability, they have formulated various strategies and policies which are all geared towards a better business performance in the upcoming years. They have formulated various activities in order to practice cost efficiency and used technology in order to develop a more convenient way for the public to be bale to book their flights  [11]  . When the economy of Britain was declare to be experiencing recession during January 2009, in the Annual Report released by the British Airlines the occurrence of such has also been acknowledged as shown by their business performance on that given operating year. The company also recognized that the global airline industry is highly and fiercely competitive subject into heavy global regulations, and highly exposed to the changes which were evident in the behavior and confidence of the consuming public. They are even more challenged with the current economic situation that is an economy which was suffering highly from the consequences of the occurrence of recession. The sharp declines in growth can also be highly associated with record prices in oil and commodity and the unprecedented financial crisis bringing about global recession. One of the most significant effects of recession in British Airways is seen on the market to which it caters. The most significant impact of recession in the airline company is reflected by its premium passengers who cut back sharply their travel spending in order to save money. Statistics shows a significant 2.8 per cent decrease in the traffic of premium passengers in British Airways. This is said to last longer because a recent survey showed that almost 47 per cent of businesses will incur fewer travels abroad in order to save. In addition to this, more passengers are opting to spend the holidays in the comfort of their own homes to cut back on costs  [12]  . Furthermore, in a statement which was released by the Chief Financial Officer of British Airways, he acknowledges the fact that during the previous year that their record profitability has put them into a condition in which they can combat economic slowdown. However, with the recession greeting the year 2009, it proved otherwise as they have suffered from dramatic losses in terms of sales and profit making them face the sharpest downturn in the course of the history of their business. When they have incurred profit in the previous year, they said that they are in a good position to combat economic downturn and the perpetual increase in the price of fuel. Unfortunately such did not come true and they instead suffer from the consequences of the poor condition of the economy in the global landscape. In order to control the effects of recession, measures to be able to combat market, credit, capital, and liquidity risks have also been implemented. The over-all management of these risks is focused on the unpredictability of the financial markets as it seeks to minimize the adverse effects brought about by the occurrence of recession. More efforts have been extended by the management to be bale to combat the adversity of recession and to bring back profit in the operation of the business of Britush Airways  [13]  . The business of British Airways during the turbulent time of economic recession can be better understood by taking a closer look at the key performance indicators of the business. Because of the unprecedented downturn in economic conditions, the company was not able to meet their financial target. In terms of their financial operating margin, a loss has been incurred attributed to soaring fuel prices and the economic recession  [14]  . In December of 2008, the International Air Transport Association a 2.5 billion dollars in terms of loss for the airline travel industry to be brought about by decrease in traffic because more people or travelers are cutting down on their costs because of the economic crisis. These were brought about by current economic conditions. After the economic downturn brought about in 2001, the airline industry recovered during the year 206 but that does not seem to be for long because eon January of 2009, recognizable losses in terms of profit have been incurred. Many of the worlds leading airlines, including British Airways, have been in poor financial health and are not well-equipped to combat the global recession.  [15]  The financial loss for the year 2008-2009 has been very drastic for the companys management and made them formulate strategies in order to combat the downturn. However, even though they are experiencing losses, they have not formulated any policy related to increase in air fare. The management believes that doing so will not help increase sales, rather it will just lower demand  [16]  . In the balance sheet which was released by the Annual Report of the British Airways, the total assets for the year 2008 totaled to 11,229,000 million pounds which was relatively lower compared to 11,938,000 million pounds during the year 2008. Moreover, their cash and cash equivalents for the year 2009 only totaled to 219 million pounds as against in 2008 where it was 433 million pounds  [17]  . These significant declines as reflected in the companys annual financial statements are enough testimonies to the fact that British Airways, just like any other company in Britain is indeed in the turmoil of economic recession. The management of British Airways acknowledges the fact that it has been a very difficult year for the financially but they are doing well financially. For the operating year 2008-2009, the company was able to incur a loss before tax amounting to 401 million pounds as compared to its profit before tax of 922 million pounds in the previous yea  [18]  r. In order to manage sustainability of business performance, the company is also geared towards various measures. One of which is to strengthen their name through their brand reputation. Their brand, being of significant commercial value, is taken well care so that it can be prevented from erosion and destruction from the publics perspective. Competition is also highly managed in order to achieve sustainability. The management ahs acknowledged the fact that indeed competition is very fierce in their industry. With that, they have formulated conscious efforts in order to get ahead of the competition and find their edge in the market. Moreover, other issues which were addressed in order to manage sustainability include employee relation, debt funding, management of environmental conditions, fuel prices and currency fluctuation, and deregulation among others  [19]  . In order to potentially manage sustainability despite an economy suffering from recession, the future direction of Brit ish Airways is also geared towards environmental related strategies which they hope will also increase their performance. The efforts of the company are focused towards adding value and enhancing their reputation in the global landscape while getting the trust of the shareholders and stakeholders in achieving a sustainable business  [20]  . Furthermore, to be able to combat the effects of such economic downturn, it is just but normal for British Airways and other businesses to invest on their intensive and conscious efforts to bring back profitability to the business. In the undeniably incredibly tough environment in which the airline operates, a dedicated focus is given towards pulling the business through the immediate crisis as it embarks on immediate preparations for better economic times. They have developed strategies which were mostly based on an upgraded customer service, competitive cost base, corporate responsibility, perpetual plans for growth, and other strategies which aim to improve the way they do business  [21]  .

technology and the world :: essays research papers

Researchers at the Massachusetts Institute of Technology (MIT) are developing a search engine designed for people with a slow net connection. Someone using the software would e-mail a query to a central server in Boston. The program would search the net, choose the most suitable webpages, compress them and e-mail the results a day later. "More and more we are creating an information divide in the world and this can help narrow that divide and have a huge benefit in that sense, " said Professor Saman Amarasinghe of MIT's Laboratory for Computer Science in Boston. The thinking behind the TEK search engine is that people in poor countries are short of money but have time on their hands, whereas people in the West are cash-rich but time-poor. "The idea is that developing countries are willing to pay in time for knowledge," explained Prof Amarasinghe. "In the West when we surf we want the information in the next two seconds. We are not willing to wait." Filtered results The researchers say current web technology such as search engines is focused on the needs of the West. When the students arrive, they can browse through those pages the way they would if they had full internet connectivity Prof Saman Amarasinghe, MIT By contrast, people in poor countries face problems such as the speed and cost of an internet connection, let alone the huge amount of webpages thrown up by search engines. "Let us assume you are in Malawi," explained Prof Amarasinghe, "and the computer lab does not have access to the telephone line all the time." "If you want to find some new information about malaria, you are prompted with a message that says 'we are going to send a query through e-mail, it is OK?'. "At night, when the phone line is available, the teacher can dial out and send the queries." The request is sent to computers at MIT in Boston, which then search the internet and gather webpages. To avoid a glut of information, the software then filters the results and chooses the most relevant. These are then sent back to the computer in Malawi so that they can be stored in the machine's internet cache. "Next morning the teacher can connect, download that e-mail and when the students arrive, they can browse through those pages the way they would if they had full internet connectivity," said Prof Amarasinghe.

Essay --

Kyra Joray Joray 1 Curtis English 10H 10 March 2014 The Serial Killer Mind â€Å"We never really grow up, we only learn how to act in public.† Bryan White once said. Basically White is saying, childhood is a very fragile state and as a kid you’re learning social norms by what’s around you. Kids born into or raised around strange situations can affect the type of person they grow up to be. As an adult, you learn more about the logical way to act around other people and how your mind works. Certain experiences can alter the way a mind functions, and can result in a human lacking logical consent. Some people may seek guidance to control any urge they may experience while others chose to act upon their feelings. Once any violence is pursed, a criminal is born. A criminals mind makes different choices, ignoring whatever right or wrongs a normal person would know. This unhealthy brain can make a killer, whether they are mission oriented and kill to accomplish a mission, are hedonistic and seek thrill and pleasure, or are visionaries and kill because of an illness from birth altering...

Stabilization Policy

| Stabilization Policy| ECO311E| | Glen Edwards 201102728| | | Contents Introduction3 What is Stabilization Policy? 3 Keynesian vs. Classical4 Stabilization in South Africa5 Conclusion5 Reference list6 Introduction In an era where growth and stability in the economy are at the forefront of economic discussions, the economic policies and principles that are utilized in keeping with a stable economy must be taken very seriously. The way in which the governments of the world manage their income and expenditure is therefore of the utmost importance. The task of managing money is what stabilization policies are in a nutshell.The two schools of thought, Classical and Keynesian, view these stabilization policies differently and the author will attempt to discern whether or not either of them view stabilization policy as worthwhile. Additionally the author will analyze the stabilization policy efforts within the South African economy in recent years. What is Stabilization Policy? â€Å"Stab ilization policy is the attempt to reduce fluctuations in income, employment and the price level, stabilizing national income at its full-employment level, if possible. † (Lipsey, 1993:659). This can be done through a governments fiscal or monetary policy, or both.As the author understands it, fiscal policy refer to those policies of the government that affect the tax rates, interest rates and expenditure, all used and controlled in an effort to control the economy. Simply put, a reduction in tax rates and/or an increase in government purchases (expansionary fiscal policy) causes the government's budget deficit to increase, or its budget surplus to decrease, while conversely, a  decrease  in government expenditures and/or an  increase  in taxes (Contractionary fiscal policy) will cause the government's budget deficit to decrease, or its budget surplus to increase. Stabilization Policies, 2000) â€Å"Monetary Policy is the deliberate control of the money supply for the purpose of achieving macroeconomic goals which are full employment, price stability, and steady economic growth. † (Gregory, 2011:149). From the authors knowledge, a change (increase or decrease) in the money supply has a opposite effect on interest rates, and this has an impact on the amount of investment spending. Therefore utilizing either (or both) fiscal and monetary policy may help a government stabilize the economy in times of turmoil and uncertainty.The different stages of growth or recession throughout the years is commonly referred to as the business cycle. The business cycle is, according to Roux (2002:25), comprised of four elements: a trough, and expansion (called a boom), a peak and a downswing (called a recession). A stabilization policy could therefore be used to combat the foreseeable trends that the business cycle seems to follow, although the two schools of thought differ in the way in which they believe these trends arise. Keynesian vs. ClassicalWhen compa ring and contrasting the views of both the Keynesian and Classical economists when it comes to the business cycle, it becomes clear that the way in which these schools of thought differ on this topic is crucial to understanding their stance towards stabilization policy. The main difference in their views of the business cycle are the ways in which the trends and stages in the business cycle come about. Mohr and Fourie (2008:512) support this by stating that classical economists attribute the fluctuations in the business cycle to exogenous factors, while Keynesians believe the business cycle to be an endogenous phenomenon.From the above sentence, it becomes apparent to the author that Keynesians would be strong advocates of stabilization policies in the economy as this would enable them to use it in reducing the negative effects that arise out of said endogenous phenomenon. This being said, the government can simply not know enough, soon enough. As a result the problem of policy lags arises. Policy lags are defined as â€Å"Time lags that occur between the onset of an economic problem and the full impact of the policy intended to correct the problem. † (Policy Lags, 2000).With this in mind, the author concludes that while strong advocates of stabilization policy, Keynesians would prefer moderate and general practice in this regard, rather than a constantly changing policy as this comes with many shortfalls, policy lags being one. Classical economists on the other hand would see few, if any, benefits from implementing a stabilization policy, this is supported by Economics USA (2013) that states â€Å"Classical and neo-classical economists believe that there is little the government can do to reduce unemployment and increase GDP/GNP growth, especially in the long run.They maintain that in the long run, fiscal stimulus raises interest rates and monetary stimulus raises prices without affecting real growth. † From this the author can deduce that it bo ils down to the question of government intervention, where classical economists believe little or no intervention is needed, and Keynesians believing the contrary. Stabilization in South Africa â€Å"The South African economy has experienced remarkable stabilisation in the course of the last decade, and since 1999 the economy has been expanding in what is now by far the longest business cycle expansion in the country’s history. (Du Plessis , Smit & Sturzenegger. 2007:5). Leading up to the 1994 elections, many economists were concerned with the sustainability of South African fiscal policy. This had a lot to do with the amount of government debt. â€Å"Government debt was rising fast, and the associated interest burden had risen to more than 5% of GDP. â€Å"(Du Plessis et al. 2007:6). Stability thereafter was a priority, not only in prices but in the economy as a whole.This notion of stability can also be seen in the most recent budget speech of finance minister Pravin Gor dan where fiscal sustainability is again cited as a priority, especially the role of taxation. â€Å"A review will be initiated this year of our tax policy framework and its role in supporting the objectives of inclusive growth, employment, development and fiscal sustainability† (Gordan, 2013). This makes clear to the author that although growth is top priority, unregulated growth is not and that the government still has a role to play in maintaining the sustainability of prices and growth in the country.Government legislature can be crediting in the strengthening and stabilizing of the economy, as Du Plessis et al (2007:7) state : â€Å"An important milestone of fiscal reform was the Public Finance Management Act of 1999, which legislated the need for regular financial reporting, sound expenditure controls and a strengthened system of supervision and audit. † In the authors opinion, although the government has not the part of the government in monitoring and encouragi ng sound fiscal principles. ConclusionIt becomes clear that stabilization policy is worthwhile from the Keynesian point of view, where government intervention is encouraged and seen as part of a healthy and prosperous economy. The author supports these views as he believes that the stabilization policies have helped, either directly or indirectly, in the preservation and stability of the South African economy, as well as many other emerging economies. This is largely, but not limited to, due to the government's ability to influence the budget deficit through taxation and its expenditure and its control of the country's fiscal policy.Reference list Du Plessis, S. , Smit, B. , & Sturzenegger, F. 2007. THE CYCLICALITY OF MONETARY AND FISCAL POLICY IN SOUTH AFRICA SINCE 1994. July 2007 Economics USA. 2013. Stabilization Policy. [Online]. Available: http://www. learner. org/series/econusa/unit26/ [2013, April 10] Gordan, P. 2013 . (2013, February). Budget Speech 2013. Speech presented at Parliament, Pretoria, Gauteng. Gregory, P. R. 2004. Essentials of Economics. 6th ed. Prentice Hall: London Mohr, P. & Fourie, L. 008. Economics for South African students. 4th ed. Van Schaik: Pretoria Lipsey, R. G. 1993. An Introduction to Positive Economics. 7th ed. Oxford University Press: New York Policy Lags. 2000. [Online]. Available: http://www. amosweb. com/cgi-bin/awb_nav. pl [2013, April 10] Roux, A. 2002. Everyone's guide to the South African Economy. 7th ed. Zebra Press: Cape Town Stabilization Policies. 2000. [Online]. Available: http://www. amosweb. com/cgi-bin/awb_nav. pl? s=wpd;c=dsp;k=stabi