Friday, December 27, 2019

Autism Spectrum Disorders - 784 Words

Introduction Autism is the main form of autism spectrum disorders (ASD). Autism is a developmental disorder that is manifested in problems with communication, impairment of social functioning, and repetitive behaviours. According to the fifth edition of the Diagnostic and Statistical Manual of Mental Disorders (DSM-V), ASD diagnoses must meet four different areas of criteria. There are three symptoms of deficits in social communication and interaction across contexts, four symptoms of restricted, repetitive patterns of behaviour, interests, or activities, symptoms must be present in early childhood, and the symptoms must together limit and impair everyday functioning (Carpenter, 2013). There are many theoretical positions on the causes of autism spectrum disorders. Some of which have been discounted by empirical studies that have been researched and performed. Theoretical Positions The search for the cause of autism and autism spectrum disorders began in the 1990s with Dr. Andrew Wakefield, a gastroenterologist from Britain. Dr. Wakefields research linked autism to vaccines received in infancy and childhood through intestinal disease. The vaccine Dr. Wakefield primarily looked at was the measles, mumps, rubella (MMR) triple vaccine. In 2004, most of the co-authors for the study withdrew their names after learning that Wakefield had been paid by a law firm that intended to sue vaccine manufacturers (Retracted autism study, 2011). Wakefields researchShow MoreRelatedAutism Spectrum Disorder And Autism Essay1393 Words   |  6 PagesAutism is a neurological disorder with many forms and severities, better known as autism spectrum disorder, that begins early in childhood and lasts throughout the individual’s life. Autism spectrum disorder is defined as developmental disabilities that can cause significant social, communication, and beha vioral challenges (CDC). Previously, autism was recognized in distinct groups and types. Now, autism is referred to as a spectrum because there is an overlap among all the different forms of autismRead MoreAutism Spectrum Disorder And Autism2594 Words   |  11 PagesAutism Spectrum Disorder is defined as a neurodevelopmental condition that is classified by a triad of impairments. These impairments are in communication, socialization, and repetitive patterns of behavior (Wolf, 2004). Autism affects about 1% of the current population (Shishido, Branko, Norio, 2013). This disorder seems like a common diagnosis in the current day in age but the disorder was only discovered around sixty years ago. The two founding researchers that discovered the disorder are KannerRead MoreAutism Spectrum Disorder And Autism1827 Words   |  8 Pagesin the United States had one or more developmental disorders in 2006-2008. This can affect the person mentally, physically, emotionally, or a combination of the three. These range from something as simple as a speech delay to something as complex as cerebral palsy. One of these developmental disorders is autism. Autism can cause social, communication, and behavioral challenges. One in 68 children are affected by autism. Autism Spectrum Disorder (ASD) is 4.5 times more common in boys. One in forty-twoRead MoreAutism Spectrum Disorder ( Autism ) Essay1739 Words   |  7 Pagesconventions (Lai, 2014). These two observations would be the beginning of a disorder known as the Autism Spectrum Disorder. This developmental disorder, characterized by a range of deficits in different areas, is increasingly prevalent in society and in the media. While the exact numbers vary from country to country, according to Lai (2014), 1% of the general population is diagnosed with an Autism Spectrum Disorder. The range of this disorder has a detrimental effect on society, specifically the educationalRead MoreAutism Spectrum Disorder ( Autism ) Essay1858 W ords   |  8 Pages Autism Spectrum Disorder affects various aspects of an autistic child’s life. Many children are diagnosed with autism spectrum disorder every year, while others go undiagnosed for an extended time, or even for their whole life. A child exhibiting delays in language benchmarks or showing little interest in the surroundings should be examined for possible ASD. Language is often impaired and although the level of impairment can range from severe too unnoticeable in each child, a child is likely toRead MoreAutism Spectrum Disorder1446 Words   |  6 PagesPublic Health Problem Autism or autism spectrum disorder ( ASD) is a developmental disorder that has been found world wide. However unlike many other disorders, autism is fairly new in the sense that there is no cure nor a set factor causing it. Today, the public is more aware of the disorder, yet there is still concern about how to treat autism in children as well as what risk factors are more likely to lead to autism. Autism has been around for the past hundred years, however previous to theRead MoreAutism Spectrum Disorder1409 Words   |  6 Pagesboys and 1 in 189 girls are diagnosed with autism in the United States (Autism Speaks, n.d.). Can be diagnosed in all racial and ethnic groups, as well as every age group. In the 2013 publication of DSM-5 diagnostic manual, Asperger syndrome, Autistic disorder, childhood disintegrative disorder, and Pervasive Developmental Disorder- not otherwise specified (PDD-NOS) were merged into one category of ASD. This paper will explain what Autism Spectrum Disorder is, causes, signs and symptoms, diagnosisRead MoreAutism And Autism Spectrum Disorder1267 Words   |  6 Pages and the way he interacted with others, spoke to me on a profound level. I know autism when I see it. For those not familiar with autism, Autism Speaks, the world’s leading autism science and advocacy organization, defines autism and autism spectrum disorder (ASD), as both general terms for a group of complex disorders of brain development. These disorders are characterized, in varying degrees (hence, a â€Å"Spectrum† that includes both low- and high-functioning individuals), by difficulties in socialRead MoreAutism Spectrum Disorder And Autism1401 Words   |  6 PagesIn America about one out of 88 children have autism spectrum disorder and about 36,500 in four million children are born with autism. Currently approximately 1.5 million adults are living with autism in the United States. The autistic brain is a complicated phenomenon, which has required many years of research in the biomedical field by institutes, organizations, and the government to comprehend the disorder. Depending on the severity of the disorder – low functionin g or high functioning – and theRead MoreAutism Spectrum Disorder And Autism Essay2049 Words   |  9 Pages Autism and Asperger’s are two syndromes that are now looked as being part of the ‘Autism Spectrum Disorder’. Asperger’s is on the high functioning end while Autism is on the low functioning end. Before the ‘autism spectrum’ was created, in nineteen forty-three and nineteen forty-four, a psychiatrist named Leo Kanner and German scientist named Hans Asperger discovered Autism and Asperger’s. Their research included looking at cases of children who were different and had qualities of aloneness, obsessiveness

Thursday, December 19, 2019

The Core Values Of Social Work - 1011 Words

Throughout this course we learned the foundation of Social Work, how it began and how eventually it branched out. The importance of Social Policies, Social Justice, meeting all human needs and understanding the core ethical values of Social Work. We learned how it all began with the church, we can even go further back to the Native Americans and Pilgrim times. Where the first display of Social Work took place then and there, we were able to learn that with Edwin in his first Presentation that gave us a little history feedback on this subject. We learned that Social Welfare reflected the people of the community beliefs and values. If your views were opposite to those that were accustomed to society at that time determined whether or not you qualified for such aid. We also look at the conservative point of view, â€Å" personal responsibility vs. government relief†. (class notes) They were opposed to taxation, they also supported safety nets. They believed that the tax structure should reward those who work vs. the wealthy.(class notes) These policies that were created were a way to have some sort of control on the people. How? Well, they were â€Å"designed to regulate, increase conformity and to create compliance. Which allowed the poor to stay socially controlled and regulated.† (class notes) This is where the role of Social Work kicked in, through advocacy they wanted to created goal for equal fairness and opportunities and freedom. Also, the support of a non-violence community.Show MoreRelatedThe Core Value Of Social Work1025 Words   |  5 PagesThe first core value of social work is service. The purpose of service is to simply help those in need. It is our duty to find the help and support that individuals need in order to function properly, both individually and socially. Social workers have the ability to see potential in individuals and it is our job to help individuals find that potential. It is also our duty to address social issues. In order to do provide the services needed for individuals, social workers must use their own sourceRead MoreThe Core Values Of Social Work1589 Words   |  7 PagesStatement of Purpose Social work concentrates not only on the wellbeing of society, but also the welfare of individuals, families, groups, and communities. Social work is a critical tool in acknowledging national controversial issues such as transparency in the government but can also address local concerns, like gang related activity within a community. It means seeing issues affecting daily lives and taking the initiative to enact a solution. Social work encompasses many facets such as communityRead MoreThe Social Work Profession And Core Values Essay1636 Words   |  7 Pagesthe social work profession and its core values is that social workers are caregivers, they provide assistance to people in need and they address social problems. The social worker goal is the improvement of society in order to ameliorate the lives of individuals in need. The primary mission of the social work profession is to enhance the well-being of people and to help them meet their basic needs, with special emphasis on the ne eds of the poor, and the vulnerable individual. The social work missionRead MoreThe Six Core Values Of Social Work713 Words   |  3 Pages â€Å"The primary mission of a Social Worker profession is to enhance human well-being and help meet the basic human needs of all people, with particular attention to the needs and empowerment of people who are vulnerable, oppressed, and living in poverty. A historic and defining feature of social work is the profession’s focus on individual well-being of society. Fundamental to social work is attention to the environmental forces that create, contribute to, and address problems in living.† (NASWRead MoreThe Social Work Profession And Its Core Values Essay1624 Words   |  7 Pagesunderstanding of the social work profession and its core values is that social workers are caregivers, they provide assistance to people in need, and they address social problems. The social worker goal is the improvement of society to ameliorate th e lives of individuals in need. The social work profession mission is to enhance the well-being of people and to assist them in meeting their basic needs, with particular emphasis on the needs of the poor, and the vulnerable individual. The Social Work professionRead MoreCore Social Work Ethics And Values Essay2536 Words   |  11 PagesIntroduction to Social Work Element1 This essay will explore two examples of core social work ethics and values and discuss the importance of the chosen principles. It will also discuss the implications that would arise if a social work professional did not comply to the standards of conduct , performance and ethics. It can be argued that the values and ethics that underpin social work are at the core of the practice ; this is what separates it in a distinct manner amongst other professionsRead MoreMy Core Values : Leadership, Openness, Respect, And Faith1425 Words   |  6 PagesMy core values are leadership, openness, respect, compassion, equality and faith. The reading impacted these core values, because I learned as a social worker, you must occasionally take leadership. Openness is always important when working with individuals, families, groups, and communities of different backgrounds. Everyone deserves respect, and being that I will be working with individuals that are going through tough situations, I have to always have respect. Compassion is a must because I wantRead MoreThe Social Work Code Of Ethics1059 Words   |  5 Pagesof the social work profession is deeply rooted in a specific set of core values. These strict set of beliefs are embraced by professional history and are the f ramework to social work s unique purpose and mission. The six core values include Service, Social Justice, Dignity and Worth of the Person, Importance of Human Relationships, Integrity, and Competence. As Social Workers begin or continue their journey in social work it is significant to always properly represent, and advance the values and goalsRead MoreSocial Work Values And Ethics1441 Words   |  6 PagesRunning head: Social Work Values and Ethics 1 Social Work Values and Ethics Unique to the Profession Jessica A. Rosario Arizona State University Social Work Values and Ethics 2 Abstract The history and evolution of social work dates to the late 1800’s. Since the profession was recognized many concerns arose regarding the values and ethics of social workers. The key points of theRead MoreValues and Reflection Paper837 Words   |  4 PagesValues and Reflection Paper Enrique Riccardi CJA/474 - MANAGING CRIMINAL JUSTICE PERSONNEL January 25, 2014 Jason Husky Abstract Reflection paper will address some topics while reflecting on core values, brief description on how some professionals in the field acquire their own values and with time may change their values. It will give a definition of what values in the workplace are, and explain what these values do for us as professionals. In this paper the reader will also be

Wednesday, December 11, 2019

Economic Article Analysis

Question: The fluctuation in the price of oil has several impacts on the economic stability of a country. Explain? Answer: Introduction The fluctuation in the price of oil has several impacts on the economic stability of a country. It can be seen that in the recent years, the price of crude oil has fallen tremendously that has affected the global oil industry. The impact of the fall in price of crude oil can be mostly seen on the oil producing countries. The fall in price of oil leads to economic downturn and increase expenditure of the government. Along with that, it is important to note that the government plays an important role in controlling the oil price in the domestic market. The paper has been developed to analyze the article that has been chosen for preparing the main report. A proper analysis of the article is provided with discussion for further understanding. Analysis of the Article The article written by Soh (2016) shows that the recent price slump in the global oil prices has certainly benefited Singapores consumers more than the industries. The drop down of crude oil prices has brought relief to the common public of Singapore as the electricity bills, and cost of petrol have been fell about 15% and 5.5% respectively (Soh, 2016). Meanwhile, in a previous couple of years since 2014, the crude prices have seemed a price slump by 48%. There are some fundamental reasons behind the relatively smaller proportion of drop down of electricity prices in Singapore (The Straits Times, 2015). Primarily, 95% of electricity produced in Singapore has relied on the natural gas prices. In the case of discussing the impact of falling oil prices in refinery and petrochemical industry, pump prices have hit six-year lows (Lim, 2016). The petrochemical industry and refining businesses have not seemed to be benefited to a larger extent due to the fall in crude prices as slumping oil prices have slowed the growth minimising the profit outlook. On the other hand, oil-intensive manufacturers in Singapore have been benefited through cut off in the fuel surcharges enjoying savings in fuel price (Cheon and Urpelainen, 2012). As far as transport and logistics businesses are concerned, the slump in crude oil prices can be seen as the most suitable business event. Due to lower crude prices, the transportation business can secure maximum profitability even after decreasing the cost of services (Elliott, 2016). Discussion Due to the rise in crude oil inventories and global economic slowdown, the crude oil prices have slipped down to nearly US$ 30 a barrel earlier in the current year. The growing pressure in crude oil has fuelled new difficulties for the large offshore and marine sector of Singapore. According to the economic analysts, the geopolitical tensions have been a significant worry for the global economy. Hence, due to the falling oil prices, oil rigs, offshore and marine, oil drilling businesses and oil suppliers in the Singapore market have suffered massive losses (Liao and Suen, 2016). The sudden drop down in prices has limited the oil production in Singapore as the cost of output and profitability margins have been the major issues. The sustainable decline in the crude oil prices has forced the oil drilling businesses to reduce the exploration and oil production to a larger extent. Hence, the article provides a proper understanding of the facts that are occurring in the Singapore economy in the recent years. The articles relates to the economic subjects that are taught in class such as economic downturn due to the fall of price of the oil. Furthermore, the article discusses certain policies that are implemented by the government of Singapore to overcome the challenges going on in the Singapore oil industry. Conclusion Due to the slump in the oil prices, a rare economic incident has occurred to Singapore economy as Singapore has seen deflation for the first time in last five years. Incredibly, the prices of the products have been fallen in a significant way creating relief for the public of Singapore. On the other flip, the downtrend of oil prices has created an adverse impact on the real estate market as the property market is facing significant headwinds. The beneficiary from the falling oil prices is quite limited as merely the consumers and oil-intensive businesses are the leading gainers. Meanwhile, oil-related business enterprises such as marine organisations and oil-rig building companies have observed reverse in the business environment seeing orders reduced. References Cheon, A. and Urpelainen, J. (2012). Oil prices and energy technology innovation: An empirical analysis.Global Environmental Change, 22(2), pp.407-417. Liao, H. and Suen, Y. (2016). Dating Breaks for Global Crude Oil Prices and Their Volatility: A Possible Price Band for Global Crude Prices.Energy Studies Review, 14(2). Lim, L. (2016).Little cheer for Singapores economy despite lower oil prices: Analysts. Soh, A. (2016).Low oil prices: Consumers benefited more than industries last year. [online] The Business Times. The Straits Times. (2015).Oil price rout: How falling oil prices impact the Singapore economy, businesses and consumers.

Tuesday, December 3, 2019

Status and Effectiveness of Rehabilitation Program of Oriental Mindoro Provincila Jail free essay sample

The first step in rehabilitation effort is to provide the basic needs of inmate as human being. The other steps in the rehabilitation processes are the provision of work programs, health care, education and skills training, recreation and sports, religious guidance and behavior modification using the therapeutic community approach. Thus, the study determined the correlation on the status and effectiveness of Rehabilitation Program of the Oriental Mindoro Provincial Jail. The study employed descriptive-correlation method to gather information about the present condition and to determine whether variables were related to one another using self-prepared questionnaire. The respondents of the study were the 60 inmates who were selected using purposive random sampling. The study found out that Rehabilitation Program of Oriental Mindoro Provincial Jail was known to the community because some people know what were the activities of the inmates inside the Provincial Jail. We will write a custom essay sample on Status and Effectiveness of Rehabilitation Program of Oriental Mindoro Provincila Jail or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page The public lacks information regarding the Rehabilitation Program of the Provincial Jail. Among the programs, spiritual development was the best program inside the Oriental Mindoro Provincial Jail. The status is related to the level of effectiveness of the Rehabilitation Program. Finally, Oriental Mindoro Provincial Jail should continuously practice and improve the Rehabilitation Program by considering good governance and effective public administration. Information regarding the Rehabilitation Program should be disseminated properly and widespread by organizing meetings, by providing flyers and posting tarpaulins or banners for the private sectors, non-governmental organizations and people’s organizations. They may be encouraged to contribute in maintaining the vocational skill training, recreation, education, values formation and spiritual development. A similar study should be conducted to other provincial jails in the country to verify the findings of the study. Keywords: Rehabilitation Program, correlation analysis, good governance, effective public administration and information dissemination - Bernadeth Palomera De Guzman is an Instructor I at the Mindoro State College of Agriculture and Technology (MinSCAT), Calapan City Campus. Dr. Christian Anthony C. Agutaya is the Deputy Research Director at the Mindoro State College of Agriculture and Technology (MinSCAT), Calapan City Campus. Objectives 1. Describe the status of the Rehabilitation Program in terms: 1. 1 supervision 1. 2 rules and regulations 1. 3. cooperation of inmates? 2. Describe the level of effectiveness of the Rehabilitation Program in terms of: 2. 1 vocational skill training 2. 2 recreation 2. 3 education 2. 4 values formation 2. 5 spiritual development? 3. Describe the significant relationship between the status and level of effectiveness of the Rehabilitation Program. Describe if there is a significant difference on the status of the Rehabilitation Program in terms of supervision, rules and regulation and cooperation of inmates. 5. Describe if there is a significant difference on the level of effectiveness of the Rehabilitation Program in terms of vocational skill training, recreation, education, values formation and spiritual development. Theoretical Framework This study were anchored on the following reviews of management and motivation theories. The Expectancy Theory of Motivation by Vroom (2005) holds that people are motivated to do things and to reach a goal if they believe in the worth of the goal they set and if they can see that what they do will help them achieve it. Luther (2005) subscribes and said that everything done in the world is done in hope. (Santos, 2010) Vroom (2005) expanded that peoples motivation toward doing anything is largely determined by the value placed on the outcome and output of their effort(whether positive or negative), that is, multiplied by the confidence they have and their efforts will materially aid in achieving a goal. He pointed out that motivation is a product of the anticipated worth that an individual places on a goal and the chances he or she sees of achieving a goal, thus: (Force = valence x expectancy) where force is the strength of the persons motivation; valence is the strength of an individuals preference for an outcome; and expectancy, the probability that a particular action will lead to the desired outcome. (Santos, 2010) The precepts of the theory lend credence and basis to the present research study. The Oriental Mindoro Provincial Jail is institutionalized with multifarious objectives to accomplish and attain wherein its members are driven and motivated to maintain peace, order and establish the atmosphere of trust among women, children and youth by implementing the legal framework of peace keeping. In every effort taken by the Oriental Mindoro Provincial Jail it anticipates that positive results could be achieved because it fully perceives of overwhelming support it derives from the people aside from the fact that it has been endowed with technical, financial and human resources to succeed in its endeavor. Another theory which relates to the operations and services of thesis the Systems Theory to Operational Management by Weirich and Koontz (2003). They emphasized that an organized enterprise does not, of course, exist in a vacuum. It is rather dependent on its external environment which is a part of a larger system to which it belongs, the economic system and society. Thus, the enterprise receives inputs, transforms them, and exports the outputs to the environment. (Griffin, 2009) The inputs from the external environment include people, capital and managerial kills as well as technical knowledge and skills. Various groups of people make demands on the enterprise. Basically, managers transform the inputs, in an effective and efficient manner, into outputs. The transformation process can be viewed from different perspectives, thus, one can focus on such diverse enterprise functions as finance, production, personnel and marketing. Particularly, the transformation processes are viewed according to an approach to management. The relationship of the theory to the present research study points the significance of resources available at the Oriental Mindoro Provincial Jail, which it needs to use very effectively in implementing rehabilitation program. These resources, of whatever types and kinds, largely contribute to the success of the programs prepared for women, children and youth especially if proper management of resources used is planned together by the group. However, the insufficiency of the resources, may mean a partial or total failure. Meanwhile, the responses and reception of beneficiaries to the program are also valuable in determining the effectiveness of the rehabilitation program of Oriental Mindoro Provincial Jail, thus, the Provincial Jail could manifest satisfaction because it has been able to create better output from the inputs it has transformed. The Contingency Theory to Leadership as advanced by Fiedler (2003) is also related to the current research study. Contingency theory holds that people become leaders not only because of the attributes of their personalities but also because of various situational factors and the interactions between leaders and group members. (Carlos, 2007) Fiedler (2003) identifies three critical areas of leadership which help determine how leadership could be most effective, hence: position power; task structure; and leader-member relations are presented below: a. ) Position Power distinguishes a person from one another based on the power endowed to him. This helps leaders get members comply with directions and rules advocated by an organization. b. ) Task structure helps leaders in spelling out tasks to be assigned to a member whom leaders hold responsible for them. c. ) Leader-member relations determines how each and every member of an organization comes to like, trust and follow the leader. All concepts of an organization incorporated in the preceding theory are binding to the present research. It is the researchers view that Oriental Mindoro Provincial Jail plans, implements and evaluates its Rehabilitation Program based on how the organization is set up and expected to function as guided by some standard operating procedures and orders. The Chief of Operations is definitely followed and whose power and authority are perceived with due high respect, however, the same has to treat subject his members with due respect and dignity. This is how the Provincial Jail as the organization functions, because it is an structured, hierarchically ordered and the leaders/members conceived of the significant contributions of their respective roles to the implementation of peace keeping thrusts. From all the three foregoing theories, the Oriental Mindoro Provincial Jail derives its power, basis and thoughts of planning and implementing a program. The Systems Approach to Operational Management, of all situations, is properly fitted and most related to the present research study. In general, the operations and services rendered by the Provincial Jail are dependent upon the kind of management practice and techniques adhered to by the PNP organization. All the three enumerated theories are quite similar to each other because each one of them has concentration on effective organizational function as influenced by the fundamental principles of motivation, leadership, and management. These theories properly represent all of the variables used in this research. As such status of the peace and order program of the Provincial Jail may be anchored on the precepts of Vrooms Theory of Motivation. Level of contribution and extent of effectiveness of operational services of the Oriental Mindoro Provincial Jail may be incorporated in either Systems Approach to Operational Management by Weirich and Koontz and the Contingency Theory of Leadership by Fiedler. Conceptual Model Based on the theoretical discussions, the conceptual model is drawn below. IV DV Figure 1 Hypothesized Relationship and Difference Between Variables Figure 1 presents the conceptual model of the study. Two variables are included in the study. The independent variable is the status of the Rehabilitation Program in terms of supervision, rules and regulations and cooperation of inmates. The dependent variable is the level of effectiveness of the Rehabilitation Program in terms of a vocational skill training, recreation, education, values formation and spiritual development. METHODOLOGY The study employed descriptive –correlation method to gather information about the present condition and to determine whether variables were related to one another using self-prepared questionnaire. The respondents of the study were 60 inmates who were selected using purposive random sampling. The study used weighted mean and Pearson’s Product Moment of Correlation. RESULTS AND DISCUSSION I. Status of Rehabilitation Program 1. 1 Supervision Table 1. 1 presents the mean perception of the detainee-respondents in terms of supervision. Result show the mean status of rehabilitation program of respondents in terms of supervision which recorded the overall mean score of 3. 70 described as high extent. Remarkably respondents perceived that the â€Å"jail personnel supervise closely the inmates† with mean score of 3. 96 described as high extent which fall in the highest rank. Then second highest rank is â€Å"performs their task and duty properly† with mean score of 3. 73 described as high extent. Likewise the second and fourth items which are â€Å"focuses supervising the inmates† and â€Å"determine the value of leadership† with mean score of 3. 65 described as high extent. And having the lowest rank is â€Å"evaluates inmate in every program† with mean score of 3. 52 described as high extent. This implies that the national standard assessment and satisfaction requirements based on Bureau of correction qualification framework implemented by Oriental Mindoro Provincial Jail was followed and complied by the jail personnel. Then it appears that all of them can cope up with the current set up of competency jail personnel. Table 1. 1 Mean status of the Rehabilitation Program in terms of supervision ItemsMeanRank Description 1. Jail personnel supervises closely the inmates. 2. Jail personnel focuses on supervising the inmates. 3. Assigned personnel evaluates the inmate in every program. 4. Jail personnel determines the value of leadership. 5. Jail personnel performs their task and duty properly. 3. 96 3. 65 3. 52 3. 65 3. 731 3. 5 5 3. 5 2 High Extent High Extent High Extent High Extent High Extent Overall Mean 3. 70 High Extent 1. 2 Rules and Regulations Table 1. 2 presents the mean perception of all the detainee-respondents in terms of rules and regulation. Results recorded the overall mean score of 3. 76 described as high extent. Based on the table, â€Å"the rules and regulation are clearly define† marks greatly implication on the respondents perception, this was indicated by the mean score of 3. 90 which described as high extent. Likewise the second, third, fourth and last items were also described high extent as evidence by the mean score of 3. 76, 3. Probably this was indication of respondent satisfaction on the rules and regulation inside the provincial jail. Thus detainees may not all follow the rules and regulation inside the jail but they will easily adopt and learn what rules and regulation is all about. Table 1. 2 Mean status of the Rehabilitation Program in terms of rules and regulations Items MeanRankDescription 1. Rules and regulations are clearly define. 2. All information are disseminated properly. 3. Rules and regulation encourages the inmates to participate in all programs. 4. Rules and regulation helps inmates understand the programs and activities. 5. Rules and regulations are appropriate for all inmates. 3. 90 3. 70 3. 75 3. 77 3. 701 4. 5 3 2 4. 5High Extent High Extent High Extent High Extent High Extent Overall Mean 3. 76 High Extent 1. 3 Cooperation of Inmates Table 1. 3 presents the mean perception of the detainee-respondents in terms of cooperation of inmates. With the overall mean score of 3. 77, respondents perceived that the cooperation of inmates were high extent. This show that having the highest mean is it â€Å"shows the success of program† with mean score of 3. All the items described as high extent as evidence by the mean score of 3. 87, 3. 80, and 3. 68 indicates what cooperation of inmates can do for their program. Although respondents perception on â€Å"emphasizes inmates initiative† with mean score of 3. 60 marked as the lowest rank, which was described as high extent. It is interesting to note that the jail personnel’s commitment to perform their functions and high level dedication to the rehabilitation program was really appreciated by all the detainees through the cooperation of inmates. Table 1. Mean status of the Rehabilitation Program in terms of cooperation of inmates ItemsMeanRankDescription 1. Cooperation of inmates establishes harmonious relationship among others. 2. Rehabilitation program encourages inmate become a good person. Cooperation and coordination of inmates shows good attitude and behavior. 4. Rehabilitation program emphasizes inmates initiative. 5. Cooperation and coordination of inmates shows the success of program. 3. 68 3. 87 3. 80 3. 60 3. 90 4 2 3 5 1 High Extent High Extent High Extent High Extent High Extent Overall Mean 3. 77 High Extent 2. Effectiveness of Rehabilitation Program 2. 1 Vocational Skill Training Table 2. 1 presents the mean perception of the detainee-respondents in terms of vocational skill training. Results marked the overall mean score of 3. 62 described as effective. This shows that having the highest mean is â€Å"vocational skill training provides good opportunities for every inmates† with mean score of 3. 80 described as effective, followed by â€Å"reduces institutional violence and offense† with mean score of 3. 70 described as effective, followed by â€Å"involves the community in the re-entry process of inmates† with mean score of 3. Which described as effective, followed by â€Å"focuses on the job readiness of inmates† with mean score of 3. 50 described as effective. On the other hand respondents perception on â€Å"activities motivates inmate to a therapeutic model† with mean score of 3. 45 falls on the last rank which was described as effective. Probably this is the indication of respondents satisfaction on the vocational skill training under rehabilitation program for inmates inside the jail. Table 2. 1 Mean level effectiveness of the Rehabilitation Program in terms of vocational skill training ItemsMeanRankDescription 1. Vocational skill training program focuses on the job readiness of inmates. 2. Vocational skill training provides good opportunities for every inmates. 3. Vocational skill training program reduces institutional violence and offenses. 4. Vocational skill training activities motivates inmate to a therapeutic model. 5. Vocational skill training involves the community in the re-entry process of inmates. 3. 50 3. 80 3. 70 3. 45 3. 65 4 1 2 5 3Effective Effective Effective Moderately Effective Effective Overall Mean 3. 62 Effective 2. 2 Recreation Table 2. Presents the mean perception of the detainee-respondents in terms of recreation with the overall mean score of 3. 50 respondents perceived that recreation were effective. This shows that having the highest mean is â€Å"develops good sportsmanship among inmates† with mean score of 3. 88, followed by â€Å"promotes camaraderie among inmates† with mean score of 3. 57 described as effective, followed by â€Å"available use of variety shows† with mean score of 3. 55 described as effective. Otherwise, the fourth and last items were described as moderately effective as evidence by the mean score of 3. This means that recreation through the rehabilitation program has a good impact to the inmates. Table 2. 2 Mean level effectiveness of the Rehabilitation Program in terms of recreation ItemsMeanRankDescription 1. Sports activities are indoor and outdoor program. 2. Sports center have adequate recreational facilities. 3. Sports competition promotes camaraderie among inmates. 4. Sports activities develops good sportsmanship among inmates. Musical instruments available for use of variety shows. 3. 40 3. 08 3. 57 3. 88 3. 554 5 2 1 3Moderately Effective Moderately Effective Effective Effective Effective Overall Mean 3. 50 Effective 2. 3 Education Table 2. 3 presents the mean perception of the detainee-respondents in terms of supervision. Result shows the mean level effectiveness of rehabilitation program in terms of education which recorded the overall mean score of 3. 88 described as effective. Remarkably respondents perceived that â€Å"inmates become involve in positive life changing opportunity† with mean score of 4. Described as effective marks as the highest rank. All the items described as effective, indicates what is the impact of education in the program. The next rank is offer at least basic education programming with mean score of 3. 93 described as effective, followed by â€Å"offer education at no cost† with mean score of 3. 90 described as effective, followed by â€Å"reduces likelihood of recidivism† with mean score of 3. 80 described as effective. Although respondents perception on â€Å"programming as a public service† 3. 73 described as effective which falls on the lowest rank. This means that education program is really existing and functioning. Table 2. 3 Mean level effectiveness of the Rehabilitation Program in terms of education ItemsMeanRankDescription 1. Educational program helps inmate become involved in positive life changing opportunity. 2. Educational program for inmates offers at least basic education programming. 3. Educational program for inmates offers programming as a public service. 4. Educational program offers education at no cost. 5. Educational program reduces the likelihood of recidivism. 4. 03 3. 93 3. 73 3. 90 3. 801 2 5 3 4Effective Effective Effective Effective Effective Overall Mean 3. 88 Effective 2. 4 Values Formation Table 2. 4 presents the mean perception of the detainee-respondents in terms of values formation. Result shows the mean level effectiveness of rehabilitation program in terms of values formation which recorded the overall mean of 3. 91 described as effective. This shows that having the highest mean is â€Å"inmate become a good person† with mean score of 4. 07 described as effective. Likewise the second, third fourth and last item were also described as effective as evidence by 3. 95, 3. 87 and 3. 80. Probably this was indication of respondents satisfaction on the values formation under rehabilitation program inside the provincial jail. Table 2. 4 Mean level effectiveness of the Rehabilitation Program in terms of values formation ItemsMeanRankDescription 1. Rehabilitation program helps inmates in a new lifestyle. 2. Rehabilitation program encourages inmate become a good person. 3. Values formation program offers good and approachable behavior. 4. Rehabilitation program provides some activities concerning values and attitude. 5. Rehabilitation program emphasizes the importance of values of every inmates. 3. 87 4. 07 3. 95 3. The mean perception of the detainee-respondents in terms of spiritual development. Result show the mean level effectiveness of rehabilitation program in terms of spiritual development which recorded the overall mean of 4. 37 described as effective. This show that having the highest mean is â€Å"conduct regular mass† with mean score of 4. 50 described as very effective. Then having the second highest mean is â€Å"provide weekly religious activities ranging from the bible† with mean score of 4. Described as effective, followed by the â€Å"volunteer religious officers belongs from different churches† with mean score of 4. 33 described as effective. On the other hand respondents perception on first and second items having the same mean which are â€Å"enjoy freedom of religion† and â€Å"help inmates in their new life style† with mean score of 4. 30 falls on the last rank which was described as effective. This means that religious volunteer and chaplain have initiative and concern with the inmates through the program implemented. Table 2. 5 Mean level effectiveness of the Rehabilitation Program in terms of spiritual development ItemsMeanRankDescription 1. Inmates enjoy freedom of religion. 2. Assigned religious guidance adviser or chaplain helps inmate in their new life style. 3. Religious volunteer officers belongs to different church. 4. Chaplain and guidance provides weekly religious activities ranging from bible. 5. Chaplain conducts a regular catholic mass. 4. 30 4. 30 4. 33 4. 40 4. 504. 5 4. 5 3 2 1Effective Effective Effective Effective Very Effective Overall Mean 4. 37 Effective 3. Is there a significant relationship between the status and level of effectiveness of the Rehabilitation Program? Table 3 presents the correlation analysis between the status and level of effectiveness of the Rehabilitation Program. Based on the foregoing correlational analysis, the computer r-values of 0. 282, 0. 440, 0. 510, 0. 481, 0. 353, 0. 523, 0. 483, 0. 542, 0. 514, 0. 376, 0. 341, 0. 573, 0. 455, 0. 580 and 0. 383 were greater than the critical r-value of 0. 273 at 5% level of significance with 54 degrees of freedom. There was a significant relationship between the status and level of effectiveness of the Rehabilitation Program. Findings imply that the program is properly managed. This may be attributed to the willingness and cooperation of the respondents to the implementation of good management and supervision in vocational skill training, recreation, education, values formation and spiritual development. The findings is best supported by the Social Change Theory by Durkheim and Economic Development by Myrdal which states that economic development only occurs in the community if the need is perceived by the people who depend on the social, economic and political agenda of the nation. It is further explained that for an economic structural change to be very meaningful, it has to create changes in attitudes, institutions and policies or often deemed very necessary (Cuasay, 2010). In connection with the previous mentioned, Social Change and Economic Development Theories are also worth mentioning for the justification of the study’s findings that the status is significantly related to the level of effectiveness of the Program. Table 3. Correlation analysis between the status and level of effectiveness of the Rehabilitation Program IVDV Vocational Skills Training r-valueRecreation r-valueEducation r-valueValues Formation r-valueSpiritual Development r-value Supervision0. 282*0. 440*0. 510*0. 481*0. 353* Rule and Regulation0. 523*0. 483*0. 542*0. 514*0. 376* Cooperation of Inmates0. 341*0. 573*0. 455*0. 580*0. 383* *significant critical r-value: 0. 273 degrees of freedom: 54 level of significance: 5% Conclusions Based on the foregoing findings, the following conclusions are hereby presented: 1. Among the Rehabilitation Program the cooperation of inmates is the most preferred program by the personnel. 2. Among the program the spiritual development is the best program inside the Provincial Jail. 3. There is a significant relationship between the status and level of effectiveness of the Rehabilitation Program. Recommendations 1. Oriental Mindoro Provincial Jail should continuously practice and improve the Rehabilitation Program by considering good governance and effective public administration. 2. Information regarding the Rehabilitation Program should be disseminated properly and widespread by organizing meetings, by providing flyers and posting tarpaulins or banners for the private sectors, non-governmental organizations and people’s organizations. They may be encourage to contribute in maintain the vocational skill training, recreation, education, values formation and spiritual development. 3. Further studies should be conducted about the management practices and financial resources because these maybe the other factors that might be related to the status and level of effectiveness of the Rehabilitation Program. Replication of the study should be conducted on the differences of the perceptions of local government units, community and other stakeholders on the status and level of effectiveness of the Rehabilitation Program. 5. A similar study should be conducted to other provincial jails in the country to verify the findings of the study. 6. Oriental Mindoro Provincial Jail should add other rehabilitation program that might be helpful to the inmates lifestyle while inside the jail. 7. Jail personnel inside the jail should maintain the good and harmonious relationship with the inmates so that conflict will not arise among them.

Wednesday, November 27, 2019

Magnificent Music Essay Example Essay Example

Magnificent Music Essay Example Paper Magnificent Music Essay Introduction Magnificent Music Magnificent Music Essay Body Paragraphs Introduction Every organization or company should foster resilience strategy in order to thrive in the constantly changing market. This requires the company to take advantage of the numerous opportunities to advance its performance for good returns while still focused on its business goals. Success will depend on well-defined strategies that encompass all aspects, which will keep the company at the forefront in competition. Resilience strategy allows the company to develop a performance culture including human factors necessary for managing change. Aquaswift is a brand new organization founded by a small group of entrepreneurs. The company will have its focus on selling beverages that include fresh juices, bottled water, alcoholic and soft drinks. The management team intends on taking a Human Factors class to ensure that every employee adheres to the code of ethics and it administers with the right approach (Miller, 2012). Previously, the current members of staff were in companies th at rewarded wrong things and there were limited efforts towards success. Therefore, the new company has developed a new concept as a competitive advantage in the market. Aquaswift plans to have a large number of employees who have expertise in a variety of instruments and voice to produce magnificent music. Thus, the criteria of recruiting the company’s staff will depend on the applicant’s music capability and the ability of the applicant in performing mundane tasks in the office as well to increase Aquaswift’s business performance. The company aims at having flexible employees who can perform different required tasks. In order to maintain employee loyalty the management will ensure that they are satisfied and their interests are considered. This new organization should exhibit explosive growth by having its employees hired frequently for music performances or concerts. Clients describe the type of events they need the musicians for and the company chooses vario us individuals among the employees. Therefore, the company must employ a favorable ethics policy to have sustainable growth with a dedicated and resilient staff. Ethics Policy Aquaswift expects that all employees, clients, suppliers and other stakeholders comply with the code of ethics in the business environment. It intends to create an admirable organization culture. The ethics policy will highlight mechanisms for enforcement and consequences of non-compliance to protect the new organization from misconduct by any of the stakeholders (Miller, 2012). The policy will also provide guidelines for the large number of employees to prevent them from breaching rules in the organization. Moral values in the organization will help it to establish a reputable culture as it will uphold fairness and equality in favor of employees. Since Aquaswift has its focus on robust growth, the ethics policy will unite people in the organization creating feasible strategies and new ideas. Therefore, the co de of ethics will assure the company long-term profitability. Conduct and Behavior Standards All Aquaswift employees should perform their tasks with professionalism with an aim of contributing to the success of the organization. They should base their interests in the organization’s standards and values in the business environment. Ethical business practice will be evident in each employee’s integrity and honesty. Employees must prepare detailed financial and marketing reports with precision and be flexible enough to have good musical performances for the organization’s image. Misuse of Aquaswift’s property such as internet services, musical instruments, telephone services, beverages and other supplies will exhibit as unethical conduct. Employees should only use the resources for the benefit of the organization. There will disciplinary action on employee misconduct. Involvement in the Community One of Aquaswift’s goals is to support the communityâ €™s initiatives and local charities by sponsoring activities that improve the welfare of people in the environment. Every docket in the organization should to support the community initiatives through its charitable donations policy. The organization will produce voluntary music concerts with performance from the employees twice a year to entertain the community and ensure that people have a good perception of its image. Information Security Each employee should practice confidentiality in handling organization’s ideas, secrets, marketing and pricing strategies, customer lists and valuable business assets. Employees should not disclose the company’s valuable information to any outsider without authorization and should use the discrete information to gain a better understanding of the organizations business strategies and plans. Aquaswift’s business plan will face distortion if there is inadequate protection of information. Leaked information will limit its c ompetitive advantage in the market and reduce its chances of success. Employment and Discrimination Aquaswift employs human resilience strategy requiring its employees to be flexible in all the operational activities. In this regard, the organization values all its employees because they have immense contribution towards its success. Employees are talented in the field of music and can execute office tasks as well. Therefore, they are entitled to fair terms of employment and appropriate opportunities to develop both musical and official skills. The top management should honor the applicable terms and conditions for employment. It is the duty of Aquaswift to provide a favorable working environment for its workforce. The environment should promote good health and human safety. The company encourages the employees to report health and safety concerned to the person in charge in the business unit. Aquaswift encourages diversity and inclusion hence; all employees regardless of their race , religion, culture, gender, disability or sexual orientation should enjoy equality, dignity and respect. Any form of harassment or humanity violation is a breach of the code of ethics. Ethics in Marketplace All promotional activities of Aquaswift should be truthful and proper. The organization should maintain fair and ethical practices in the market competition. There will be no exaggeration in the advertisement of the company’s beverages. Products and services should stand on their own merit and quality. Valuable product information such as on alcoholic drinks should be included in the advertisement to show that excessive alcohol consumption is harmful to one’s health (Lawrence, Weber, 2011). The organization should provide customers with adequate information concerning the products, prices and services and apply supply terms when dealing with suppliers. Aquaswift must not infringe on the patents, copyright or trademark of other competitors in the market. The compan y’s staff should deal with client and supplier complaints fairly and with immediacy. Compliance with Laws Aquaswift recognizes and respects the laws and regulations of the countries and other jurisdictions of its operational activities. It is the duty of the top management of each docket to ensure that employees follow the law to the letter (Miller, 2012). Therefore, employees should communicate with their particular managers to verify the laws to avoid misinterpretation. The company should handle government contracts and tenders through control procedures. The law prohibits beverage companies from selling alcoholic drinks to persons under the age of 18 years. Aquaswift upholds this law by ensuring that clients of alcoholic drinks are above the ages of 18 years through an identification system. The organization also observes the rule of business tax and employee income tax. Disciplinary Action There will be disciplinary action on individuals in the organization who breach the ethics policy. Employees who infringe Aquaswift’s ethical standards will face oral or written reprimand. Further breach can result to suspension of the employee or termination of the employment contract (Sharp, 2006). Employees are required to report incidences of misconduct or infringements to the appropriate authority for rectifications and resolutions. The senior management and the business unit management should also respect the rights of the employees. Policy Implementation and Concerns Every employee and supplier should possess a copy of the ethics policy and should adhere to each requirement. Each business unit of the organization has a manager whose duty is to oversee the performance of employees in his or her docket in relation to the ethics policy (Wheelen Hunger, 2010). The senior management receives reports on all employee concerns due to vagueness in the organization. It is the duty of managers and officers to investigate alleged violations of the organizationà ¢â‚¬â„¢s ethics policy so that it experiences business continuity and success. The board of directors will address the proven violations or infringements and ensure fulfillment of the organization’s legal obligations. Conclusion Concisely, Aquaswift’s ethical policy will give it a clear direction of operating its activities to experience robust growth. It will also enable the organization to integrate the magnificent music concept in its business activities and ensure that employees cooperate with limited tension. A common culture will unite all stakeholders and improve the company’s image thereby attracting more clients to buy its products and services. The resilience strategy incorporated in the policy will serve to put it at the forefront in the competitive market. Therefore, the policy will magnify the efforts of every employee towards success and ensure that business practices are in line with ethical values that reflect human factors. References Lawrence, A. T., Weber, J. (2011). Business and society: Stakeholders, ethics, public policy. New York: McGraw-Hill Irwin. Miller, L. R. (2012). Fundamentals of Business Law: Summarized Cases. Cengage Learning. Sharp, D. J. (2006). Cases in business ethics. Thousand Oaks, Calif: Sage Publications. Wheelen, T. L., Hunger, J. D. (2010). Strategic management and business policy: Achieving sustainability. Upper Saddle River, N.J: Prentice Hall. We will write a custom essay sample on Magnificent Music Essay Example specifically for you for only $16.38 $13.9/page Order now We will write a custom essay sample on Magnificent Music Essay Example specifically for you FOR ONLY $16.38 $13.9/page Hire Writer We will write a custom essay sample on Magnificent Music Essay Example specifically for you FOR ONLY $16.38 $13.9/page Hire Writer

Saturday, November 23, 2019

Construction surety contract bond underwriting risk evaluation

Construction surety contract bond underwriting risk evaluation Introduction Finance has been the subject of global market confusion and unremitting controversies with matters of greater public and private concern facing unending challenges due to incompetent policies and regulations governing financial affairs.Advertising We will write a custom thesis sample on Construction surety contract bond underwriting risk evaluation specifically for you for only $16.05 $11/page Learn More The unprecedented hard economic epoch of the recent decades has hit the financial market, thus affecting operations of numerous companies globally through constantly augmenting defaults and losses (Ramsey 43). Generally, one of the worldwide industries that have constantly suffered from financial crises and the related risks is the global construction industry where million of losses occur not only from the economic circumstances, but also due to unrelenting misfortunes that mar industrial growth. In a bid to protect contractors from the rising financial risks that have become more eminent in the current decades, financial institutions are becoming proactive in providing risk transfer mechanisms in the form of surety. Despite decades of surety guarantees by corporations in the United States, little remains known to the public about surety. Therefore, this study explores construction surety bond underwriting risk evaluation. Synopsis of a construction surety contract The financial business world has grown exponentially for decades and become the most responsive industry that constantly provides substantial aid to other industries on risk related affairs. By operating slightly akin to the insurance firms, corporate sureties have emerged stronger in supporting risk related industries including the construction companies by providing surety bonds. In simple terms as defined by CNA Surety, â€Å"surety bonds are three party instruments by which one party guarantees or promises a second party the successful performance of a thi rd party† (1). These three parties or principles involved in the surety bonding include a surety (any financial institution), a principal (contractor) and an Obligee (owner) (Seifert 47). Surety bonds involved in construction or bonding construction companies are contract surety bonds. Obviously, construction is a challenging and risky business that possibly can result into huge losses to constructors and owners is not well handled. Construction surety bonds typically prevent owners from financial and resource related risks that likely occur during project construction.Advertising Looking for thesis on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More In its broadest understanding, construction surety bonds normally provide assurance to Obligee or project owners that contractors are capable of performing or completing the project on due time, within the stipulated budget and in the desired design requirement s (McIntyre and Strischek 30). On the same note, construction surety bonds are capable of assuring the venture owners that the contractor will complete the project and pay all the specified subcontractors, material suppliers and manual workers as expected (McIntyre and Strischek 30). Research has identified three common forms of construction surety bonds namely bid bonds, performance bonds and the payment bonds that are common in a large construction spectrum. A bid bond is a construction surety bond that provides financial assurance that the contract is for good will, in desired price and required performance and payment bonds. Performance bond provides â€Å"the owner with protection against financial loss in a circumstance where contractor fails to complete the project and meet terms and conditions of the contract., while payment bond ensure that the constructor makes all payments to suppliers, subcontractors and laborers† (Jenkins and Andrew 2). Background to the U.S. con struction surety industry Perhaps the United States stands out to be among the most advanced countries that have integrated systems to protect innocent civilians from malicious service providers, including malevolent project managers and contractors. The U.S. construction surety industry has expanded exponentially in the current decades and its history and background is long, and its fate has been a mixture of success and failure (McIntyre and Strischek 31). The U.S construction surety industry premiered centuries ago and financial corporations have been offering surety bonds for quite a while, before the government decided to intervene as a service-consumer protection intervention.Advertising We will write a custom thesis sample on Construction surety contract bond underwriting risk evaluation specifically for you for only $16.05 $11/page Learn More According to Surety Information Office (1), the year 1893 saw the U.S government, through Miller Act Section 270a, placing a legal mandate to all contactors on public works contracts to acquire surety bonds that guaranteed their constancy in undertaking projects and masking dully payments to all subcontractors and suppliers on project completion. The importance of getting into construction agreements and contracts began at this moment. By the U.S. Government imposing Miller act, one significant issue emerged from this rule. According to Surety Information Office (1), â€Å"the Miller Act (40 U.S.C. Section 270a) requires performance and payment bonds for all public work contracts in excess of $100,000 and payment protection, with payment bonds the preferred method, for contracts in excess of $25,000.† In subsequent moments, approximately fifty American States, including Puerto Rico and District of Columbia began enacting this act. Since this enactment, corporate financial institutions initiated massive campaigns of attracting contractors in such business activities by making the su rety industry quite a competitive sector throughout 1990s when the American economy thrived. Under the strong economy, the contractors remained busy and with minimal failures until the entire world began experiencing economic crunches. Unfortunately, the profitable bonding business became more overwhelming and centered attention for new entrants into surety leading to excess and gratuitous competition within the surety industry that has finally remained shaky 2000 due to high-profile corporate failures. Principles of Premiums and losses While trying to understand underwriting of surety bonds in the construction industry, premiums and losses are two financial terminologies associated with underwriting of surety bonds. The U.S surety bonds, similar to the insurances, have premium and loss terminologies, which represent certain fees. Unlike the insurance premium, surety premium refers to service fee or service charge determined based on anticipated losses (Grovenstein et al. 356). Loss es are unforeseen financial risks that may result from contractors failing to complete the project as per expectations, or even other uncertainties related to project construction.Advertising Looking for thesis on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More In the case where the surety industry considers risks from the construction company are unpleasant, the financial institution, which is normally the surety, may have to deem a number of alternatives. According to contract bonding principles, McIntyre and Strischek affirm that some of the alternative that assists in minimizing loss chances in sureties is raising premium charges, raising deductibles, reducing bond coverage, intensify underwriting standards or even quite completely from the bonding deal (30).. Perceived significance of surety contract bonding Since the advent of surety contracting and bonding into the U.S federal public works, much has protracted that has led to surveyors considering the imperativeness of surety contract bond underwriting. Surety bonding is a process that involves risk sharing through a business-integrated program that involves several mutual terms and conditions for all the three parties involved (Jenkins and Andrew 1). In actuality, there is no bette r or rather practical alternative of defending the private and the public against financial loss. On the other hand, financial institutions depend on public and private sectors to generate revenues for their survival. Surety bonding on construction favors all the three principals in the contracting deal (Dunn and Sedgwick 15). For the owner, protection from financial loss, safety of the construction and smooth progress of the project is what becomes major benefits in due completion of the project (Ramsey 42). Three contract surety bonds have been supportive in assisting Obligee in undertaking their projects successfully b considering the success of the bonding. The owner believes that the bid bond, the performance bond and the payment bond are core movers to the success of the project. McIntyre and Strischek assert, â€Å"Surety bonds assure project owners that contractors will perform the work and pay specified subcontractors, laborers, and material suppliers in accordance with th e contract documents† (30). The contractors (principals) also rely on the surety contract bond underwriting in a number of ways that may deem significant while undertaking their contracting process. During the underwriting process, the contractor feels assured of owner’s cooperation in terms of payment as cases of exploiting contractors seem outdated since the financial institutions scrutinizes owners financial capacity comprehensively. Since the surety corporations have the financial stamina to cover any improprieties resulting from Obligee, the contractor feels assured of getting all the stated pay (Dunn and Sedgwick 15). The surety or the guarantors who are large financial institutions normally receive a financial benefit and commercial reputation over the surety industry since premiums have the potential of chaining the corporate improvement of the firms. Essential information for underwriting a contract bond Underwriting a contract bond has been a quandary for the three parties, with both of them having worries over the successfulness of bonding and the fate of the project under construction. As noted by Glaser, Piskorski, and Tchistyi â€Å"mortgage underwriters face a dilemma: either to implement high underwriting standards and underwrite only high quality mortgages or relax underwriting standards in order to save on expenses† (186). All parties involved in undertaking the contract bonding must observe several parameters before concluding on ways to undertake the surety bonding. During the process, the corporate sureties are normally at higher risks since they are responsible for monitoring and assessing the capabilities of the two parties in the contract bonding (Sacks and Ignacio 46). Nonetheless, it is worthwhile that all the three principles consider seeking legal advice and embedding their bonding procedures through legal frameworks that likely reduces chances of uncertainties. The two (principals and surety) with their underwri ters and producers have the accountability to oversee all the procedures of the contracting process. What contractors and their producers must know Subsequent to a comprehensive coverage of all conditions, terms and procedure of signing the contract bonds, a greater responsibility rests upon the contractor companies and the surety companies as the owner waits in anticipation. As the surety depends on surety company underwriter to undertake a follow up on the contract and plan, the contractor company relies on the producer, who forms part contractor’s external advisory group. The producer is one of the integral players in the contractor’s advisory team and to avoid performance-related risks that may hamper completion of the contract the producer plays an important part. The contractors company must consider the following qualifications from the producer: the producer must be familiar with the local, provincial and national conditions and trends within the surety market. In addition, Ramsey (42) asserts that the producer must posses accounting and finance knowledge, respect and a reputation for integrity, knowledge of the contract law and their documents, substantial experience in management practices and strategic planning among other fundamental aspects. They must understand that the contracting business involving construction company is quite challenging and with numerous uncertainties. For any successful contracting company, understanding of business risks is imperative and this aspect aids in evaluating and assessing the kind of contract bonding that firms associate with during their operations. As suggested by Ramsey, â€Å"taking any and every job available is not a wise strategy† (44). A construction company must understand all the uncertainties including external construction risks as weather, natural hazards, material prices, or supplier’s inconveniences and owner’s-related risks, as well as internal risk like equipme nt failures, staff problems and capital fluctuations. This move is normally the best way of evaluating and managing their risks since it enlightens the company on the genuine projects to pursue and the contract bonds to sign. According to Fayek and Marsh (3764), the contractors must also rely on a sustainable legal expertise team that scrutinizes the owner’s financial potency, as it is normally a challenge for contractors to access data pertaining to owners financial and banking secrets that sureties have. What surety and their underwriters must consider In the context of undertaking the construction bonding process, the sureties that involve corporate financial institutions are the core movers and principals of contract bonding. Apart from the main surety in the bonding process, two actors as mentioned earlier are important in the process of surety contract bond underwriting: an underwriter and a producer, who form part of the entire process (Stevens 440). An underwriter is a professional who works directly for the surety company that has offered to provide bond and undertake the obligation. After a successful collection of the necessary information pertaining to the contract, the bond producer presents the information to the surety company underwriter, who is responsible for making a follow up of the plan for the surety company (Ramsey 44). The underwriter is the most integral person in the advisory team of the surety company. Ramsey) asserts, â€Å"The surety bond producer works with the surety company’s underwriter to ensure that the contractor is bondable and capable of performing the work and paying all parties† (44). In the context of underwriter’s duties, the following are the primary activities undertaken in underwriting by the surety company underwriter. Firstly, the underwriter has the accountability to determine if the contractor possesses the financial potency to support the contract all through. Secondly, the surety co mpany underwriter ensures that the contractor has a positive historical record of paying subcontractors and suppliers immediately (Ramsey 44). Finally, the surety company underwriter ensures that the contractor possesses a good rapport with the banks and other financial institutions. In simplest financial terms, underwriting standards of nowadays surety market emphasize on three important Cs representing capitals, capacity and character in the underwriting process and in understanding the contractor’s business. Since a surety bond acts as a bank credit in several ways, it is important for contractors to have a good reputation since contractors have a challenge of accessing debt capital (Seifert 49). The underwriter also peruses through the contractor’s fiscal year-end statements including balance sheets, cash flow statements, and income statements among others. The table below summarizes the contractor evaluation criterion. (Source: Fayek and Marsh 3766) Project speci fic risk factors affecting contract bond underwriting While trying to engage in the surety contract bonding and agreeing to the terms and conditions governing construction under contracts, the three parties especially the contractor in this case must understand the risks associated with contract bond underwriting. This element explains the reason why the bond producer is an integral actor in the surety contract bond underwriting process in defense of the contractor as this professional recommends an accountability line of consistency regarding the contractor’s competence. Two important forms of risks have been in constant discussions over the existence years of surety industry and contractor’s business, and these are project-specific related factors and performance-related risk factors. To begin with, a construction industry is a challenging field of professionalism as it associates with numerous risks (Cummins 28). As guarantors are currently targeting mega contractor s with large cumulative programs that are highly perilous, risk in itself is a unique issue and very few constructions complete successfully without encountering jeopardy. As postulated earlier, the underwriter examines the capital, capacity, and character of the contractor; nonetheless, the forth c has emerged in the recent studies that denote continuity. The continuity in the case of construction may remain hampered by uncertainties. Project specific risk factors are precarious issues that associate with the project itself and contractors are normally unaware of the unforeseen uncertainties. The project owners will always deem a project successful if the contractor manages to complete it within the stipulated time, designed budget and all other requirements (Grovenstein et al. 159). Project-specific related risk factors may involve natural catastrophes, delays in the supply chain or material deficiency, change in the material prices or even owners lack of cooperation. This aspect explains the reason behind the existence of payment bond that ensures that the owner’s project continues despite the failure of the contractor in paying sub-contractors, laborers, and suppliers (Vedenov, Epperson, and Barnett 450). Project-related risk factors, especially natural ones have been the most challenging to control in the surety bonding. Performance-related risk factors affecting contract bond underwriting Performance related risk factors are uncertainties affiliating with the incapability of contractors to complete the desired project in the requirements highlighted in the contract bonding agreement (Strischek 31). Within the tripartite bond agreement, the caution and worry here is upon the owner of the project under construction and more worse to the surety company. Some contractor’s performance faith has been questionable within the public and to ensure that contracts have remained successful through surety contract bond underwriting, the performance bond emerged (Seifert 48). While trying to understand the concept of performance related risk factors in the contracting process, management practices and strategic planning as contractor evaluation criterion emerged from this point. Performance in the context of surety contract bond underwriting refers to the contractor’s aptitude in completing the agreed project. Some of the common performance related factors may include the contractor’s management delinquency, poor or lack of business planning, lack of contract performance frameworks, project complexity as well as obstructing company philosophies and procedures, most of which are avoidable. How to make an appropriate bond underwriting decision The appropriateness and successfulness of any bond underwriting between the three parties depends on a number of issues that surety companies must always consider before making a decision into the bonding. â€Å"Sureties and bankers have much in common. McIntyre and Strischek pos tulate, â€Å"Both industries underwrite risk to contractors, and both have enjoyed the good time profits of the cycle’s expansion phase and suffered the losses during its contraction phase† (36). Therefore, analyzing risks involved in contract bonding becomes important. However, in certain circumstances, financial organizations have found themselves into the traps of fraudster and money swindlers who pretend to be contractors from reputable companies, leading to serious financial losses (Glaser, Piskorski, and Tchistyi 188). Despite the fact that there are very few decision-support models existing among financial institutions that are sureties and this aspect has resulted into numerous problems concerning contract bond underwriting (Stevens 456). As postulated earlier, corporate sureties should use a number of procedures in determining the probability of having attractive returns from a contract. Before making a decision to engage in any contract bonding practice with the other two parties, viz. the project owner and the contractor, numerous things appear significant for consideration. Before anything else, the financial institution must scrutinize owner’s financial capacity including his/her willingness to pay all expenses incurred in the project and his/her previous behavior with the bank or surety (Ramsey 44). In the beginning of the initial phase, the company must consider hiring or employing a competitive underwriter with appropriate knowledge in all forms of surety conditions, who will deal confidently with the contractor’s producer to avoid incurring financial losses. Bearing in mind that the financial institution will be taking all the liabilities and obligations for the owner, a legal advisory team must prevail to provide information and make all follow ups of the required legal procedures while undertaking the construction bonding (Grovenstein et al. 359). The financial organization must acquire proper background knowledg e and assess the previous character of the contractor on the earlier contracts and agreements. All documents concerning the contractor’s latest fiscal year-end statements must exist in this assessment to provide assurance that the contractor has been loyally paying all sub-contractors, laborers, and suppliers within the slated time. The financial institution, which is the corporate surety, must ensure that the underwriter assess â€Å"the contractor’s latest fiscal year-end statements by examining the accountants’ opinion to review the audit or compilations† (Ramsey 45). They should also assess balance sheet to evaluate the working capital, income statements to estimate gross profits from previous contracts as well as cash statements to appraise operating cash flow among other important construction bonding documents before deciding on the bond agreements (Seifert 49). On finalizing, the surety company underwriter must also consider analyzing the possible risk factors associated with the bonding and ensure they depend on a decision support model in their making their final agreement on the contract. Conclusion Conclusively, there has been substantial literature existing concerning surety bonding in the construction industry yet understanding important procedures in the construction bonding process has been a challenge. Surety companies are the most parties that are at a greater risk of failing in the surety bonding if proper securitization of the owner and the contractor’s intentions in the bonding deal are unknown. Sureties with successful transfer of construction risk have always considered the attractiveness of the risk transfers. Companies engaging in surety bonding normally target the jumbo rates in the premiums, which normally come from seriously risky ventures, and if proper caution lacks in making the appropriate decision in the bonding process, the sureties may be putting themselves into great financial uncertainties . CNA Surety 2005, Surety ship: A practical guide to Surety Bonding. Web. Cummins, David. â€Å"Cat bonds and other risk-linked securities: state of the market and recent developments.† Risk Management and Insurance Review 11.1(2008): 23-47. Print. Dunn, Jonathan, Irvine Sedgwick. â€Å"Letters of Credit, Bonding, Guarantees and Default Insurance: Hedging Bets in a Roller-Coaster Market.† American Bar Association 15.2 (2013): 1-17. Print. Fayek, Aminah, and Krista Marsh. â€Å"A decision-making model for surety underwriters in the construction industry based on fuzzy expert systems.† Journal of Construction Engineering and Management 1.1 (2006): 3763-3772. Print. Glaser, Barney, Tomasz Piskorski, and Alexei Tchistyi. â€Å"Optimal securitization with moral hazard.† Journal of Financial Economics 104.2 (2012):186–202. Print. Grovenstein, Robert, Francis Sirmans, John Harding, Sansanee Thebpanya, Geoffrey Turnbull. â€Å"Commercial mortgage underwr iting: How well do lenders manage the risks.† Journal of Housing Economics 14.2 (2005): 355–383. Print. Jenkins, Robert, and Wallace Andrew 2005, Construction Bonds: What Every Contractor and Owner Should Know. Web. McIntyre, Marla, and Dev Strischek. â€Å"Surety bonding in today’s construction market: changing times for contractors, bankers, and sureties.† The RMA Journal 87.8 (2005): 30-36. Print. Ramsey, Marc. â€Å"Surety Bond Producers and Underwriters.† The RMA Journal 91.8 (2009): 42-45. Print. Sacks, Arianna, and Correa Ignacio. â€Å"Underwriting: The Harvard Student Journal of Real Estate.† The Harvard student journal of real estate 1.1 (2011): 1-116. Print. Seifert, Bryan. â€Å"Sustainable Buildings and the Surety.† Real Estate Issues 33.3 (2008): 47-52. Print. Stevens, Glenn. â€Å"Evaluation of Underwriter Proposals for Negotiated Municipal Bond Offerings.† Public Administration Management: An Interactive Journal 4.4 (1999): 435-468. Print. Strischek, Dev. â€Å"Underwriting and Monitoring Consideration in Lending to Contractors Today.† The RMA Journal 86.10 (2004):31-32. Print. Surety Information Office. n.d. 10 Things You Should Know About Surety Bonds. PDF file. Web. Vedenov, Dmitry, James Epperson, and Barry Barnett. â€Å"Designing Catastrophe Bonds to Securitize Systemic Risks in Agriculture: The Case of Georgia Cotton.† Journal of Agricultural and Resource Economics 31.2 (2006): 318-338. Print.

Thursday, November 21, 2019

Howard Goodall's 20th Century Greats -- Bernstein Assignment

Howard Goodall's 20th Century Greats -- Bernstein - Assignment Example These fashions include classical, folk and electronic which finally birthed more tastes and advancement in music varieties afterwards. As I watched this movie, I felt that that it was also contrasting modern music with the diatribe past condemned music versions. This is evident in the continuous and venturous tone employed throughout the movie. To add into this, Howard even digs deeply on the personal profiles of the artists such as Bernard Hermann by elaborating how this artist disrupted the former film heritage. For instance, he quotes that Hermann came up with far reaching transitions by employing complete skills and prowess such as employing reduced violin vibrato, contesting string reverberations and cutting melodies to finally retain few key chords. By comparing the four artists, I think Howard Goodall wanted to exemplify to the viewers how a real change from the normal ordinary rhythmic phrases (in the former music and films) to the symphonic orchestra can be like. I think he also aimed at pointing out the fundamental musical elements. These elements include musical rhythm, melody and harmony I also firmly believe that he thought it’s wise for literature audiences to comprehend how these musical elements are intertwined. I think this exposure to various music components helps the individuals who need to venture into music have a firsthand knowledge of what they need to know to perfect in music art and why. This movie for most the part, I think it looks at the integral musical instrumentation and analysis. I think it also checks the significance of incorporating musical harmony and tone with chord variances blended with two or more distinct but related subjects, commonly referred to as Dorian modes. This movie ignited my passion for film literature. It was specifically very captivating, emotional and mind blowing.