Hospital management documentation free essay sample

Hospitals are very important institutions for the economic and social well-being of society. Their curative and rehabilitative functions enable them to restore individuals to being productive members of society and for those individuals to enjoy the benefits that can be derived from it. The success of hospitals in their mission is therefore important. This success is highly dependent on the hospitals managerial capability. An understanding of how hospitals are managed will contribute immensely to future successes in hospital management and towards the enhancement of their roles in society. Hospital Management System is designed for all kinds of hospital, which covers wide range of hospital administration and management process. When dealing with hospital management it provides the consolidated patients data and relevant information across the hospital to support effective decision making for patients care, scheduling, operation, their billing, registration etc in a faultless flow in this case study we will majorly discuss the registration process in the hospital management. We will write a custom essay sample on Hospital management documentation or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page Hospital Management System has a predefined reports , these are used by staff filling out forms, freeing resources for more critical tasks, normal reporting as well as Administration and Staff development purpose. Additionally Hospital management can be easily customized their own customized reports. The Project â€Å"Hospital Management System† is generalized software that steps forward towards computerizing the routine work of the hospital system. And to automate process involved in hospital management. 1. 2 OBJECTIVES 1. 2. 1 To maintain record of patients. i. e.  operation, treatments and other relative processes. 1. 2. 2 To maintain record of staff members. 1. 2. 3 To maintain all details of different wards and beds. i. e. total occupied beds and total vacant beds. 1. 2. 4 Viewing patients information securely and rapidly. 1. 2. 5 Prepare bill of the patient with total charges more efficient and fast. 1. 3 STATEMENT OF THE PROBLEMS 1. 3. 1 How to maintain patients recor ds that is easy to retrieve? 1. 3. 2 How to maintain staff members records? 1. 3. 3 How to maintain all details of total occupied beds and total vacant beds from different wards? What are the possible ways to view patients information securely and rapidly? 1. 3. 5 How to prepare patients bill’s total charges fast and efficient? 1. 4 SIGNIFICANCE OF THE STUDY The system is designed to provide better service to patient, patients details, and other vital information for group clinics such as registration process. Lessen the workload of registrar, where all data are easier to retrieve without time wasting compare to the manual process where data about patients need to be search in the archive, which required extra effort and time. The relevance of the system is to keep track of document submitted by the patients and all his details like date of admission, date of discharge and about his disease so that the patient will be categorize by his disease also by their age, if the patient is repetitive then the doctor can search quickly about his background and if another operation is to be held then the doctor can make precautions. The advantage of the system is that the doctor can store all the information about the employees under him and from previous record, doctor can referred the type of treatment carried on the patient, so that it makes doctor’s job easier. It is helpful to reduce the time and complexity of maintaining the records. It also helps in accurate maintenance of Inpatient and Outpatient details. 1. 5 SCOPE AND LIMITATIONS 1. 5. 1 The document only covers the requirement specification for the hospital management system. This document does not provide any references to the other component of the hospital management system. 1. 5. 2 Application should maintain all information of wards and different beds in that ward. And update that information as every admit discharge process take place. 1. Applications keep track of bed. i. e. which patient has occupied that particular bed, admit date and name of doctor who handle that patient. 1. 5. 4 Application should generate final bill and discharge card. 1. 5. 5 The system cannot perform the calculation of the patients discounts from their Philhealth, SSS, Pag-ibig Fund and etc. CHAPTER 2 RELATED LITERATURES AND STUDIES This chapter is a presentation of the review of related literature and studies that bear relevance to the study and significantly sustain the basic framework of this study. This chapter gave the researchers additional knowledge about the topic and the comprehensive view of the study. Local; Indra’s Hospital Information Management System, the most advanced technology in healthcare, is the first of its kind to be implemented in the Philippines. MMC is currently one of the six hospitals under the Metro Pacific Investments Corporation (MPIC), together with Davao Doctors Hospital, Cardinal Santos Medical Center, Our Lady of Lourdes Hospital, Riverside Medical Hospital, and the recently acquired Asian Hospital. The implementation of Indra’s healthcare system serves as the pilot implementation for the hospital group, as part of their vision of healthcare in the country. Comlogiks HIMS is the market leader of hospital information system in the Philippines serving more than the combined clients of all hospital systems provider in the local market. In Foreign; Health of citizen is the wealth of Nation. India has contributed the most ancient Medical science â€Å"AYURVEDA† to the world besides other Medical sciences. This field had witnessed a rapid metamorphosis in all of its sections. With immensely increasing advancement in the field of technology, ambit of medical sciences has enlarged making it more sophisticated, diagnosis and cure-oriented. With the advent of 21st century, Health care has become an industry having tremendous potential. This century witnessed a giant leap in information technology. Computers are not only used to diagnose the illness or for doing surgery with one hundred percent accuracy, but also they are used to increase the efficiency in all fields ranging from fixing the appointment with the Doctor to keeping the record of the Patient. Software application can provide solution and services for the global health care industry. By using the cutting edge technologies, Hospital Management can be improved with efficient work flow and communication. Any time any where facilities of the INTERNET have helped the Medical fields to integrate into a single unit. Various Hospitals across the globe can be connected together. They can share information and even services. Details of the Patients, their previous visits etc. are totally not perceptible without a computer. Relevant Informations are always stored in the computer and are available instantly in front of the user. The current manual system that is being used widely in many government hospitals in Malaysia makes the services received by patients are not so efficient and effective Time wasting, loads of paperwork, filing, and a huge numbers of man power needed are few to be listed This list can be lessen if a computerized system is being implemented in this organization This is to make sure the service and treatment that all governments hospitals offer become more standard and have a good quality. The used of Hospital Management System is not new in our country. Nowadays, a lot of private clinic have practice this sort of system . The used of hospital management system can make sure the flow of the service that they offer are efficient and effective towards patients.

The Ins

The Ins "The Black Tower"‚  is a classic example of crime, detective and espionage literature is a thrilling and exciting read. In most books classed into these catagories the writer will always try to out smart the reader, somewhere beneath the novel he, tries to puzzle you and make you confused. They hate us thinking that we are on top of this book, us thinking that we know where and why they did that. Etc. by them, the writer, playing these little games with us, the reader, it creates an effect that will almost always make us adictted or hooked in some way. The idea in hooking us to this book is to enable us to continue reading on without and worries or qualms."The Black Tower"‚  portrays, in an extenvive manner, the different ways in which the writer varies his ways of denying gratification and steering their expectations in a direction so he or she doesn't know how to get back.A calling card of Reverend Edward Wheeler Hall was...

Country differences in curriculum designs (something like that ) Research Paper - 1

Country differences in curriculum designs (something like that ) - Research Paper Example However, after 1988, the ministry of education allowed the schools to use textbooks from various sources. The education system in China emphasized in the preparation for examination as a way of evaluating the performance of the student in schools. However today China does not put more effort on the test; instead it put more emphasize on the reformation in the curriculum. The curriculum system of China dwells on eight spheres of learning unlike before where it dwelled on very many disciplines. These are Language and literature, mathematics, natural sciences, social sciences, technology, arts, physical education and practical. The average class size in China has 50 students depending on the location of the school. The teachers chiefly relied on the scheme of work. Moreover, there was consultation with the teacher. Learning was also expected to take place outside the class. Furthermore, students are expected to participate fully in class work through the engagement of the teacher. For the evaluation of performance, learners take an examination that will enable them to be promoted to the next level of learning. The teacher training institution in China at the secondary and higher education category is responsible for the delivery to the students in all the institution of learning that include over 200 million student without the preschool pupils. Conventionally, the teachers in China who handled the student at grades 1- 12 were supposed to teach students in the subjects that they were trained in the training colleges. In China, the class teacher is charged with the responsibility of teaching only a single subject to either one class or more while other teachers are handling other issues. Such a practice is common from grade 7- 12. The teacher who begins handling a particular subject to a class of student takes them through Grade 9 where they take Regional examination to decide their fate for example whether they are joining college or vocational

Football League alls for Safe-Standing Areas in Championship Research Paper

Football League alls for Safe-Standing Areas in Championship - Research Paper Example Considering the intrinsic factors associated with the game, the government has also approved standing in the stadium by introducing new legislation on safe standing. Today, British football is on the verge of reintroducing the standing facilities because of the desire of the fan groups to stand and watch football once again. The completion of this project would not have been possible without the cooperation of the sporting industry and its fans who kindly responded to my survey requests. A special thanks to you to the Newcastle United Football Club Fan forum that completed and promoted my survey Furthermore my family and friends, who have supported me during this project. Overcrowding in football stadiums has always been a common phenomenon in England and the long history of the game shows that the event has faced deadly accidents many a time. The safe game is always a prime matter of concern in the English Premier League (Slater, 2013). Earlier, standing facilities were allowed in the stadiums which results in serious overcrowding, especially during big matches. Although a large number of spectators can give significant profit figure to the stadium authority, and often can act as a catalyst to the home team, it is generally considered unsafe. English football is an event of collective hooliganism and indiscipline and it often results in serious fatalities (Finnegan and Rookwood, 2008). To combat this problem, all- seating facility was introduced and it was a mandatory legislation to be followed by all the stadium authorities. It is generally assumed that all seating provides better safety and better comfort compared to standing facilities.

Jumeira's firm specific and home location advantages Essay

Jumeira's firm specific and home location advantages - Essay Example The Jumeira Hotel in Dubai is called the Burj al Rab. After its completion, it was the ninth largest in Dubai. The total space that the facility covers is enormous. Its location makes it more appealing than other hotels of the same standards. This is the case with many other hotels in this chain. This essay aims at determining the specific and home country location advantages that the jumeira group of hotel has over other hotels. The Jumeira Hotel is strategically placed that other hotels of the same standards cannot match the type of appeal that it brings to the customer. The Jumeira branches of hotels are mostly situated by the shore of water bodies this makes them a variety of options. The can provide water tourism services, something that not many other hotels have. They are strategically placed in the various countries that they are found in. To begin with, Dubai is among the cities with the largest inflow of tourists in the world. With the new major tourist attractions coming up in the place, the number of visiting tourists is increasing tremendously. This gives the hotel an advantage over hotels in other parts of the world. The large number of tourists in Dubai is a guarantee that the hotel will register huge numbers of tourists. This is also the case with the other branches of the hotel. For example, the Jumeira Carlton towers in London, it is a major tourist attraction in itself, leave alone the amo unt of tourists that London receives, the strategic design and placement by the water side makes it very appealing. The tourism statistics of the countries where the various hotels are found rank very well in terms of the numbers of tourists. Some of the various locations include; the Abu Dhabi branch, Frankfurt, Kuwait, Istanbul, Maldives, Rome, shanghai, Mallorca, and Baku. All these countries are major tourist attractions sites. Spain Italy and London are ranked among the top ten highest

Impact of Competition on Bank Performance

Impact of Competition on Bank Performance INTRODUCTION This study focuses on a research set forth to examine the linkage of competitive obsession and/or excessive competitiveness to financial impacts (credit boom/crunch) on the banking industry. Organisations concern for the survival of business at all costs has transformed into a strong credence that they can control and dominate human, physical, natural and intangible resources, thereby direct the business world now and in future. This has induced an underestimation of some immeasurable and unfathomable trends in business. Now the business world is being battered with harsh economic and financial struggle. Hence Ezer and Demetis (2007:57) states: â€Å"Our obsession with control has become part of our validation as a species.† At this time all countries and a huge number of firms has been impinged on, by recent the credit crunch. 1.1 Background There are huge reasons for the competitive activities of countries, banks and Multinational Enterprises (MNEs). Some of these reasons are to maximise wealth and minimise cost. In the 1970s the banks were not highly driven by competitive force (Black and Strahan, 2002). Countries and Multinational Enterprises take advantage globalisation and free trade. However, the banking industry today has become quite competitive and involved in subprime lending. The increase in competition among banks led to less proficient screening aptitude and credits granted to less worthy customers (Rajan, 2008). In addition, MNEs engage in drastic activities across nations termed as an abuse of free trade. The recent economic situation emerges quite troublesome for everyone. Credit concerns are now crucial and are imperative in ensuring successes in international business. This requires the aid of banks as MNEs are in battle with an unpleasant financial crisis. Nevertheless, would these banks who are also hit by the credit struggle, save themselves, talk more of aiding the MNEs or any other business and/or customers. The financial market crisis began early in 2007 and has resulted to losses in the market and loss of confidence in financial institutions across the globe (World Economic Forum, 2008).The causes of the credit crunch are traced to a number of identified causes (Johnson and Kwak, 2009). To mention a few are subprime investments, government neglect of banking activities, and the abuse of free trade, mainly but not wholly originating from the United States. Some of these causes are still in repetition dated back to 1966 and are yet to be eradicated. Financial crisis originating in the 1960s has been re-occurring in the 70s, 80s and of present, hence, it is not a novel issue. What is yet to be known is why the credit crunch keep re-occurring from similar causes, and the possible existence of a common element among these ‘causes which is unseen or rather covered in a veil, that could make or break the achievement of a Companys objective. This common element could be termed extreme competitiveness or competitive obsession. It is unknown if competitive obsession could have contributed to the credit crunch. A study and understanding of this problem could proffer solutions and thus, possibly promote international business and financial integrity on a global scale. 1.2 Research Purpose This research is not focused on identifying and putting blames on various organisations or their activitities that might have caused the credit crunch. The aim of this study is to identify the relationship between competitiveness- its obsession and the credit crunch, and to determine whether this competitive obsession is found within the activities of the organisations that might have caused the credit crunch. 1.3 Research Questions The questions to be researched will be principally concentrated on the grounds/motivations in which business, banks and regulators take drastic decisions and engage in dangerous activities that might have led to the credit crunch. The answers to find out will thus be: What this ground/motivation is? What is the existence of this ground/motivation among different institutions? What the relationship of this ground/motivation could have to the credit crunch? 1.4 Implication of the Dissertation This study develops a new theoretical model, which incorporates two â€Å"issues† which can be found today (competitive obsession and the credit crunch) in to the notion of global economic challenges in respect to nations and MNEs. The practical significance of this study involves proffering some guiding principle/course of action for globally competitive firms in the course of competitive/strategic decisions that is accountable. How firms react to the pressures of international competition and the chances of taking comparative advantage on the macro level has been deemed importantly stressed by Herrmann (2008), describing his research as only the beginning of a broader analysis. This study tends to continue from Herrmanns research, but relating it to the credit crunch. There are obviously exclusions in the literature, but the association of competitiveness and the credit crunch are very hardly studied in some intensity. This study tries to make the association of these two is sues overt. 1.5 The Structure of the Study 2.0 LITERATURE REVIEW 2.1 Introduction Competitiveness and the credit crunch are two different broad issues, which however are not new in the literature. Firms aspire to have a competitive advantage/edge to survive in the global market; nevertheless, the extreme cases of this competitiveness that could be very fruitful or drastic are not put in to so much consideration. Furthermore, the extreme cases of credit facility (over or under extending), might or might not have presented a favourable business condition. 2.2 Review of Studies An attempt to review the whole issues on competitiveness and the credit crunch would be a task of great difficulty, size and strength. Both subjects have been in academic and organisational practice for a very long time. Hence, the re-evaluation of literature will highly pinpoint a survey as well as case research done. Given huge amount of data and research carried out through the years, some important studies have been omitted. Apologies are made for such omissions while, other studies which might be perceived as of less significance, are been utilised. 2.3 Sections of Review There are large amounts of literature works significant to this study, however, this chapter will focus on: Background : History, Present Future Competitiveness and the Credit Crunch Defined Competitive Obsession- Favourable or Unfavourable National and firm competitiveness [Porters Diamond] Competition in the Banking Industry Government/country competitiveness 2.4 Background: History, Present and the Future The early years of this millennium has faced corporations with credit problems connected with the boom in the stock market. As this financial catastrophe receded, came the rise and boom of the housing sector, which subsequently transformed in to the unavoidable credit crunch (Cooper, 2008). Financial crises has always come and gone. the early crisis of 1990 affecting countries like Mexico, Russia, Norway and Sweden and the Asian crisis of 1997 involving countries like South Korea, Thailand, Indonesia, Malaysia, Philippines, Singapore and Hong Kong (Allen and Gale; 2007, Nesvetailova, 2007). The causes of these financial crises and/or credit crunch were sought after and found (Johnson and Kwak, 2009). Some of these causes were generic to some Nations while others were particular to a Nation. It is found common among nations that blames were laid on the inconsistent macroeconomic policies of government and financial institutions (Allen and Gale; 2007, Nesvetailova, 2007; Turner, 2008; Cooper, 2008). Some particular causes found in the nations like the United States (US) and United Kingdom (UK) are the sub-prime lending and housing boom (Rajan, 2008), the abuse of free trade by the promoters of free trade (Turner, 2008), and corruption in nations like Indonesia (Allen and Gale; 2007). Can the misdeeds of government and financial institutions be associated to competitiveness? Porter (1998) portrays that competitive advantage of nations convey new government and business functions for the attainment of competitiveness and success. Constantly, government is ineffectual in whatever it gets to do as she constantly fall short in her industrial policies and in tackling the issues of competitive lead (OShaughnessy, 1996). Hartungi (2006), stress the competitive impacts of globalisation among nations, in the flow of labour and capital. Thus, government of nations, especially the developing ones are being threatened by competition from other nations. In consequence, these governments deregulate and hence make weak their policies for fear of alien investors relocating their businesses to another nation (Hartungi 2006; Buiter, 2007). Turner (2008) on the other hand echoes the abuse of free trade as firms utilise the benefits of free trade by carrying their dealings across var ious nations, with the aim to maximise their profit at the least cost. Thus, while (Hartungi; Buiter) accuses the government, Turner accuses the Multinational firms. Notwithstanding, both government and Firms actions are rational justified to be a move to beat competition. The future of the economy, given this recent credit crunch is still bleak and insecure. There are no quick or magic solutions to this credit troubles. Most banks still hold back on granting credit and economic endeavors are still seriously threatened and extremely bad (Lorenzen, 2009). 2.5 Competitiveness and the Credit Crunch Defined Competitiveness, which is found at the heart of business firms and nations, has always been an inevitable desire, as firms and nations struggle for survival and to outperform one another by gaining a competitive edge, comparative/absolute advantage. Given different circumstances and/or surroundings, competitiveness itself, has defined and implied differently by academic scholars/ authors. Since the theories of Adam Smith in the 1770s and Ricardo in the early 1960s, the models of Porter (1980) and Krugman (1994) prior the other current ones, accentuated by Cao (2008) and Chikà ¡n (2008) national and firm competitiveness, given the global competitive force is still obsessive. The rationale behind competitiveness stays the same; changes are found to exist on strategies engaged to accomplish it, the means of maintaining competitiveness in a rapid and constant change of business environ and processes. In the literature, competitiveness has been widely defined. The Office of Competition and Economic Analysis (OCEA) (2009) echo, â€Å"Competitiveness means different things to different people. To an economist, it may mean how well a country is performing compared to other economies, as embodied in the standard of living and changes in national productivity. To a policy maker, it may mean how a new regulation changes the ability of affected businesses to compete. To a business owner, it may mean changes in profitability as reflected in market share for its goods and services in a low-cost market place.† Hence there are no specific or clear definition of competitiveness could be generally satisfactory, rather they are given different interpretations to best match ones requirements or task (Aiginger, 2006; Ketels, 2006; Siggel, 2006; OCEA, 2009). Garelli (2006: 3), from an economic and management perspective defines competitiveness as â€Å"a field in economics that reconciles and integrates several concepts and theories from economics and management into a series of guiding principles driving the prosperity of a nation or an enterprise.† With regard to the credit crunch, which is the second concern, finance and credit availability has always been the blood of every enterprise that ensures the running of its business operations. The credit crunch or credit crises, financial squeeze, or financial crises have been termed differently by different nations, firms, scholars and institutions. Some authors further use these terms sequentially. Hence, for example, the credit crunch might have resulted from a capital crunch or the financial crises have led to a recession. However, the implied meaning remains the same. This financial instability has long existed, as well as economic theories such as the efficient market theories (EMT), Keyness and the Minskyan theories and hypothesis. Watanabe (2007:642) defines the credit crunch as â€Å"the reduction in credit supply available to borrowers, particularly bank lending supply, for some lender specific reasons.† Watanabe further describes a difference between financial crisis and the credit crunch as thus: the financial crisis involving banks breakdown, financial mismanagement and volatility, while the credit crunch involving a incidental hindrance of banks lending activities, arising from capital shortage. Similarly, Ryder (2009:76) states, â€Å"The uncertainty in the global financial markets has led to a dramatic reduction in the availability of affordable credit, or credit crunch.† 2.6 Competitive Obsession- Favourable or Unfavourable The history of excessive competition is traced to the course of economic development and evolution of industrial formation in different countries in the globe, arising from changes in demand leading to a poor economic cycle or even recessions (Cao, 2008). One of the strong criticisms of competitive obsession is that of Krugman (1994) and (Cao, 2008) on excessive competition. Krugman bases his arguments on three points- (1) that apprehensions on competitiveness, are as an empirical issue, baseless; (2) that the definition of economic setback as one of international competition is nevertheless striking to lots of people. Finally, that obsession with competitiveness is incorrect, dangerous, distorting domestic policies and a threat to the international economic system. Hence, thinking competitively will one-way or the other lead to bad policy making. Both Krugman and Cao, stress the misinformed and common thinking in economic theory that intensification of competition can improve economic and social welfare. Aiginger (2006) in his competitiveness defined stresses its non-exclusion of strategies to harm neighbouring countries. Thus, assumptions have been made about obsession being a negative term (Dance, 2003). On the other hand, excessive/obsessive competitiveness has been identified to improve welfare (productivity and social) in an economy, as well as the possibility of positive externalities and spillovers (Brahm, 1995; Aiginger, 2006). Norcia and Flener (2008) in the retail experience, suggests that a means to not just survive but excel in the recent financial crisis is to become more obsessed, with the customer experience for example. Obsession with customer experience is further identified as Mr Philip Green, the owner of Bhs, achieved a historical largest profit for the company, by being obsessed with customer value, price, quality and market (Mazur, 2002). Identifying competitive obsession as good however, is dependent on it being properly focused (Dance, 2003). This research however, neither supports nor opposes the impact or effects of competitive obsession on firms as well as on the economy, but tries to find out if competitiveness and its obsession might have resulted to the recent credit crunch. 2.7 National and Firm Competitiveness [Porters Diamond] Chikà ¡n (2008: 24-25) presents the definition of both firm and national competitiveness: â€Å"Firm competitiveness is a capability of a firm to sustainably fulfil its double purpose: meeting customer requirements at a profit. This capability is realised through offering on the market goods and services which customers value higher than those offered by competitors.† And â€Å"National competitiveness is a capability of a national economy to operate ensuring an increasing welfare of its citizens at its factor productivity sustainably growing. This capability is realised through maintaining an environment for its companies and other institutions to create, utilize and sell goods and services meeting the requirements of global competition and changing social norms.† Chikà ¡n further stresses the existence of a structural homogeneity with the two definitions, as both are described as capabilities, sharing similar root in economic and social thinking, involving strategic governance and the thought of sustainability. Thus, Garelli (2006) stipulates that firms play their main role of achieving economic benefit, while nations provide the necessary framework to maximise the economic benefit, hence their fate is entangled and cannot be managed singly. The interconnection of competitiveness at national and firm level has been presented by Porters (1990) diamond framework. As concerns gaining sustainable advantage, Porter (1998:71) throws the question himself â€Å"which firms from which nations will reap them† Porters model is useful to analyse competitiveness and its various factors (Garelli, 2006; Chikà ¡n, 2008), thus, in this literature it will be used to analyse the banking industry. The different components of the diamond theory are used to summarise the activities of banks at national and firm level: Factor conditions: these are factors of production as well as infrastructure. Innovation and efficiency via technology are inputs for banks competitiveness (Berger and Mester, 2001; Black and Strahan, 2002; Balgheim, 2007). Demand conditions: customers are increasingly becoming more demanding of banks and less loyal (Balgheim, 2007). On the micro level, mainly households and businesses take on banking dealings, such as deposits, loans and other financial services (Goddard and Wilson, 2009). On the other hand, household in some countries avoid placing their savings in financial institutions and rather buy physical goods (Barth et al, 2006). Related and supported industries: this factor takes account of cluster theory, which endorses firms concentration. The banking systems are becoming more concentrated, and the correlation of this concentration and competition is becoming vague (Carbo et al., 2009). Firms strategy, structure, and rivalry: these are managerial actions and strategy in addition to domestic rivalry. as bankers detect a rival struggle to win in the inter-bank lending competition, they assume firms to show more potential than they had reasoned (Ogura, 2006) Government: is another factor considered to determine competitiveness based on its influence on social norms and macroeconomic policy (Ketels, 2006; Chikà ¡n, 2008). However, Michael Porter disbelieves government to be a fifth determinant of competitiveness (Garelli, 2006). Davies and Ellis (2000) summarised some of the limitations of Porters model- to involve omissions of object of analysis, that productivity at national level is confused with industry level success; confusion of trade factors with respect to comparative advantage; flaws in methodology and mode of reasoning; and a refutation of the assertions of the competitive advantage of nations. 2.8 Competition in the Banking Industry Competitiveness cannot extricate itself from the conception and veracity of competition (Herciu and Ogrean, 2008). Goddard and Wilson (2009) describes banking competition as vital because a failure in the market or an anti-competitive behaviour by banks could have extreme consequences on the productive effectiveness, the welfare of the consumer and the growth of the economy. This explains further the development of competition in banking to be a highly relevant exercise paving way for good policies that could effectively regulate and supervise the banking and financial services sector (Goddard and Wilson 2009; Carbà ³ et al., 2009). At the 1970s, there were little or no competitive strains on banks, favourable government ruling and strong barriers of entry into the industry (Berger and Mester, 2001; Black and Strahan, 2002). Nonetheless, by the early 1980s, government rulings no more favoured the industry, technology and policy changes reduced the barrier entry, and competitive strains were on the increase (Berger and Mester, 2001; Black and Strahan, 2002). The increase in competition has a two effect as depicted by (Black and Strahan, 2002)-limiting the credit accessibility to new and small businesses, while also increasing its credit accessibility to big firms that are credit worthy. In recent times, competition has become highly on the increase, banks loosen their creditworthiness assessment in sub-prime lending and non-worthy customers get access to credit (Marquez 2002; Ogura, 2006; Rajan, 2008). The consequence of this is of three ways- reducing the impact of observational learning; reducing the credit risk engaged by every bank, while on the other hand; increasing the total risk engaged by the whole banking industry (Ogura, 2006). 2.9 Government/country competitiveness Competitiveness is a crosscutting issue that is influenced by the decisions of many different government agencies and is subject to a strategic goal for foreign direct investment (FDI) attraction (Ketels, 2006). Siggel (2006); Herciu and Ogrean (2008) presents a view of a country competitiveness arising from the harbouring of internationally competitive firms, industries, as well as government policies and regulations. The central or apex bank of a country is an agent of government, thus, understanding the macro/micro level competitiveness and its inter-linkages to the credit squeeze would require a study of internationally competitive banks and the central bank. 3.0 RESEARCH METHODOLOGY 3.1 Macro Economic competitiveness- methods suggested by Authors National competitiveness has been measured with indicators such as business competitiveness index of the world economic forum (WEF) (Ketels, 2006; Herciu and Ogrean, 2008; Chikà ¡n, 2008). The world economic forum (WEF) which engages its competitive analysis on global competitive index (GCI), sets out 12 determinants/ and or pillars of competitiveness – Institutions, Infrastructure, Macroeconomic Stability, Health and Primary Education, Higher education and training, Goods market efficiency, Labour market efficiency, Financial market sophistication, Technological readiness, Market size, Business sophistication, and Innovation. 3.2 Firm Level – Competition in Banking- methods suggested by Authors The measure of competition in the banking industry is significantly subject to barriers on entry, internationally and at home (Barth et al, 2006). They stress- entry requirements and restrictions of foreign entry/ownership of domestic banks as two of the variables that could be used to qualitatively confine the degree to which competition in the banking sector is controlled. Nevertheless, some researchers [(Goddard and Wilson, 2007; 2009; Carbà ³ et al., 2009)] draw inference from the observations of firms behaviour derived from theoretical models. Furthermore, the measurement of competitiveness differs broadly in terms of definition, scope, drivers and geographical location (Ketels, 2006). Irrespective of the measures that are put in use, the important issue is ensuring that these different measures make similar suppositions about competitive behaviour (Carbà ³ et al., 2009). Various studies and research has been engaged to understand the credit crunch on a macroeconomic level and on the financial aspects of firm Kang and Sawada (2008). However, the researchers environment and sense of direction in identifying and resolving problems, as well as the interested organisation and society subscribing to it, determines his/her research process or methodology (Ghuari and Gronhaug, 2005). 3.3 Adopted Methods for this Study The main purpose of this present study is to examine the interrelationships of extreme competitiveness among firms and the financial impacts. This will be evaluated on a macro and micro level. The intended methodology will differ as well as emanate from the methodology utilised by the above reviewed researchers in a number of ways: On the macro level, the interrelationships of firms and financial institutions will be evaluated by drawing form secondary data (GCI published by the WEF for 2008/09). For this study, however, the interrelationships will be evaluated utilising only two (2) – Institutions and Financial market sophistication, of the twelve determinants of competitiveness, rather than the combination of all the 12 determinants of competitiveness. A collection of primary data via questionnaire: this questionnaire is intended not just to ascertain or measure competition on the bank firm level competition but going further to evaluate how this competition are driven by business factors such as changes in policy and business strategies. To support the data collected via questionnaire will engage in an interview to give room for some of the top bank personnel to justify and give opinions on the issue of competitiveness and the credit crunch. 3.4 TRIANGULATION This research will triangulate its primary and secondary data collection method qualitatively and quantitatively. This approach will be important when considering the reliability and validity of data, and in trying to find similarities and differences existent in these different sources of data. Thus, the result of one research strategy are cross checked against the result of another research strategy (Bryman and Bell, 2007; Saunders et al, 2007). Thus, the methodology utilised for this research will draw data qualitatively and quantitatively. Quantitative as it will engage in statistical measure and manipulations and qualitative as it will also engage in interviews and survey reports. 3.5 FIRMS AND FINANCIALINSTITUTIONS – A SECONDARY APPROACH The secondary approach utilised for the purpose of this research will draw data from the global competitive report of the world economic forum (WEF), as well as textbooks, articles and journals by electronic and manual means. Drawing data from secondary sources provides a channel as to the essential research work that needs to be carried out, as well as sufficient background information to ensure a direction for research (Cooper and Schindler, 2008). The GCI prepared by the WEF, derives its data from the executive opinion survey (EOS) as well as from other globally recognised data sources such as the International monetary fund (IMF), organisation for economic co-operation and development (OECD) and national sources. Institutions as described by the WEF, comprises the interaction of individuals, firms and governments to create wealth and income in the economy, thus, having a potent connection on development and competitiveness. Financial sophistication on the other hand, emphasises a thorough review of risk ensuring an appropriate creative channelling of resources use. In order to emphasise the connection and link of Institutions and Financial market sophistication, we adopt the correlation index calculation. A way of measuring the relative strength of correlation between two variables is done through a correlation coefficient (r) (Francis, 2004). Hence the product moment correlation coefficient formula: r = n∑xy- ∑x∑y √({n∑x^2 )- à £Ã¢â€š ¬Ã¢â‚¬â€œ(∑x)à £Ã¢â€š ¬Ã¢â‚¬â€^(2 )} {n∑y^(2 )- (∑y)^(2 )} Where r = product moment coefficient formula and is a number which lies between +1 and – 1 When r is far from zero (closer to +1 or – 1), there is a strong correlation When r is close to zero, there is a large dispersion and variables uncorrelated r= 0 signifies zero correlation r= 1 signifies strong/direct connection between variables. r= – 1 signifies strong/inverted connection between variables. Where x and y = variables to be measured, And n = number of (x, y) variables 3.6 Test of Robustness The essence of the robustness test is to check the stability of findings from secondary analysis done above, in the sense of whether smaller or larger deviations could prejudice performance of the model or data findings to a large extent. Thus, the existence of gross errors in a small fraction of observation is regarded as a small deviation, the main aim of robust measures being to preserve against errors (Huber and Ronchetti, 2009) Using a dataset of over 100 countries surveyed by the world economic forum, variables on a selected number of countries are drawn. To identify a relationship between competitiveness and the credit crunch (based on two pillars afore mentioned), this research uses the â€Å"robustness/ruggedness approach†, which has been effectual in Baxter and Kouparitsas (2004) in analysing its datasets of over 100 countries. Using this approach, a variable is identified to be a robust determinant of another vis-à  -vis the recent credit crunch, if the correlation coefficient of both variables is far from zero (0). 3.7 Secondary sample collection The systematic sampling method has been selected to take in to account a sample of 15 countries, which will be used for the measurement of connection between variables. This method of sampling has been found to create ease of use, especially where there is an inexistence of a sampling frame. The procedure of the sample systematically selected is as follows: A hundred and thirty- four (134) economies have been covered in the 2008-2009, global competitiveness report by the world economic forum (WEF). Thus sampling 15 countries will be a selection of every 134/15 (8.93th) country. If every eighth (8th) country is selected, 8 x 15= 120, so the last 14 countries will certainly not be selected. On the other hand, if every ninth (9th) country is selected, 9 x 15= 135, definitely the final country selected does not subsist(see appendix 2). One of the disadvantages of systematic sampling is that the sampling technique is not strictly random, since the selection of a random starting point would mean all subjects are pre-determined (Francis, 2004) However, for the sake of the study 8.93th will be approximated to 9th, as it is more free of bias compared to selecting every 8th country. The countries selected are shown in the table (1). Table 1 Column1 S/N Country Country Rank/no Random Starting Point 1 Japan 9 2 Australia 18 3 Saudi Arabia 27 4 Tunisia 36 5 South Africa 45 6 Latvia 54 7 Turkey 63 8 Ukraine 72 9 Egypt 81 10 Georgia 90 11 Algeria 99 12 Albania 108 13 Mali 117 14 Nepal 126 15 135 Source: reproduced from the global competitive report (2008-2009) 3.8 Primary Data Collection The purpose of the research is to identify the existence of competitive obsession or excessive competitiveness particularly on the actions and reactions of banks and the government on a macro and micro level interrelationship. To draw a wide range of data on competition among these institutions, the quantitative and qualitative approach is engaged. 3.9 Quantitative research: the questionnaire This research will use questionnaire administered on bank staffs to collect data for quantitative analysis. This aspect of research will engage its analysis univariately in frequency tables, diagrams and percentage of variables, using the Microsoft excel. Subsequent on that, the data findings will be endorsed with that of the qualitative and secondary data. The questionnaire is purposeful on the views of bank staffs relative to competitive actions that might have contributed to the credit crunch. The questions posed will therefore indirectly address the three (3) key research questions, then similarities and differences in answers triangulated with other research methods to be utilised in the

Comparison of the American and French Revolutions Essay -- American Fr

Comparison of the American and French Revolutions The American and French revolutions both compare and contrast in their origins and outcomes; both revolutions began due to the common peoples need to obtain independence and liberty from an oppressive government. The American Revolution was triggered by the American colonists need for financial independence from the overpowering nation of Great Britain, while the French revolution was a struggle to gain social equality among the masses. Although the American and French Revolutions were fought over the same ideas, the American Revolution is considered more â€Å"conservative† than the French. The intent of the American revolutionaries was not to initiate a revolution, but rather to gain their freedom from a â€Å"long train of abuses,† The French however were trying to cause a true revolution they were not just fighting for freedom but instead to over throw and remove the monarchy. The American revolutionaries had no choice but to defend their liberties; the tactics used by the Americans were not as directly aggressive as those used by the French. The American Revolution, beginning in 1776, was initiated due to the tension that existed between the thirteen American colonies and the island of Great Britain due to the war debt Great Britain had incurred when defending American colonists against the French and Indians. As a solution to the debt the British began passing legislation, which increased the taxation of American colonies, tightening their control over the colonists. One of the regulations that Parliament passed was the Stamp Act of 1765. This taxed all printed documents, including: wills, newspapers, and pamphlets. The colonists felt they were not fairly represented because they held no seat in Britain’s parliament. The rallying cry for the colonists became â€Å"no taxation without representation." After years of boycotting and peaceful protest the American colonists could no longer stand the abuse from Great Britain and decided that they had had enough. In 1775 the British troops and American Militia exchanged first shots of the Revolution. On July 4th, 1776, the Second Continental Congress issued the Declaration of Independence, written mostly by Thomas Jefferson. Due to a decisive American victory at Saratoga, the French agreed to aid the Americans, mainly because of a longstanding hatred between the French... ...g an impartial solution for all. The National Assembly took the Tennis Court Oath, which stated that no one was to leave unless a constitution was enacted for France. On August 26th, the Assembly drew up the Declaration of The Rights of Man and citizen. In contrast to the American Revolution, the French Revolution was more violently approached. Both the American and French revolutions ended with a victory of independence. In the American Revolution, the American colonists gained their independence from Great Britain while the French gained social equality and converted from an overpowering monarchy to a republic. They differed, however, by the means in which each set of revolutionaries went about revolting. The American Revolution was less violent and the Americans had attempted to first establish a compromise with King Louis XIV. The French Revolution was much more aggressive; the storming of the Bastille and massacre of many French nobility are prime examples of the violent tactics used during the revolution. Both revolutions have not only adequately show the importance of individual and universal rights, but also show two different ways of achieving liberty through revolt.

Texas Education

Improving Education in Texas United States is known for their freedom of opportunity for education. Our education system has given us a wide variety in choices to what we want to achieve and earn our degree in. Our government has also given us the opportunity to achieve these goals for those who struggle to afford the education with such as loans and grants. So what is such the problem that students really struggle with? It has been recorded that only a little over 50 percent of students who start a four-year degree plan earns their degree in six, and where Texas it is even less.As a student myself, I face the struggles that college students face to complete school. Texas has been known for their excessive number of dropouts. In my opinion, Texas can improve the number of dropouts by understanding the real life struggles of a student that they face to balance their time and labor to manage the expenses for school. As a student myself, I have encounter many students that has either do wngrade their level of education or could not complete school. The many of the few reasons was that they did not have the time or just couldn’t afford the expenses.And the source of reason why student’s did not have the time were because they busy having to work hoping they’ll be able to afford the education. A student I’ve known, that is having to delay his completion in his four-year degree plan was because he is having to spend more hours at work to afford the expenses he has to pay at home. And because the amount of money he makes, he has been ineligible for financial aid. Therefore, school on top was way out of his budget, now he has to continue focusing on building capitol in able to afford and complete school.Although government is providing and offering many opportunities to afford school, we still struggle to find ways to keep students not only to start school, but also to complete school. So far in what I have been impressed by the government is the requirements students must meet in order to be eligible to receive financial aid. Students are required a specific passing rate and GPA to continue receiving money from the government to complete school. Therefore, students are enforced to focus and attend school. If government continues to maintain this strategy, we can see an improvement in he number of dropouts and failure in Texas. Money has seemed to be the source of reasons students struggle with to improve their education. Many of those completing their degrees in universities have to be left with thousand of dollars in debt. It is a fear for many of us to complete and leaving school having to pay unaffordable amounts of debt. This takes back to students struggling to work and afford school at the same time. When students have to spend constant hours to afford their expenses, where is the time they will have to focus and complete school.We can feel discouraged when checking the price for books and school bills. And the r eason why some students may conflict in making the correct amount of money, is because many were not able to afford the proper education to earn the degree for a better paying job. If Texas can create more programs for student’s being able to afford school without stressing the idea of putting out more time and money from their pockets, then I do not see why students would not engage. What government needs to do is create a different path in education where it can be more suitable for every student therefore creating an improvement in education.Kristen Indriago and Nancy Druart in their article Money Isn’t The Only Answer to School Woes, explained that even if we provide some of the best schools in the community, it does not mean it is suitable for a student to achieve in. â€Å"The best thing we can do as a state to meet the needs of every student is create a competitive, flexible education system that equalizes education opportunities regardless of socioeconomic sta tus†, Indriago and Druart stated. Although they have stated strong points in their article for creating the needs of every student, I disagree on the idea of ignoring the socioeconomic status.It is because of our economic status that troubles our students to stay in school. If we can focus on the status of those struggled we can create a better education opportunity. Texas is a national leader state, and to improve our higher education is an image we must focus on. Due to our excessive number of dropouts, we must pay attention to the source of reasons. As a student myself, I have encounter many problems to why students trouble in school. Some of the key reasons has been balancing and affording the time and expenses.If the government and school boards take a harder look at why student’s struggle to complete school we can see an improvement. With the condition of searching for improvement, Texas can provide and promote more cost efficient and time consumable programs for those students that face these conflicts. Therefore, in my opinion Texas can begin seeing progress. Works Cited Indriago, Kristen, and Nancy Druart. â€Å"Money Isn't the Only Answer to School Woes. † Statesman. N. p. , 24 Feb. 2013. Web. Spellings, Margaret. â€Å"Texas Higher Education Could Be Improved. † Statesman. N. p. , 27 Nov. 2012. Web.

Rethinking The Organization Example

Rethinking The Organization Example Rethinking The Organization – Article Example Identify some examples of privatization. What works? What doesn’t work? What aspects of your organization could be contracted out? Should it be contracted out? Why, or why not?There are several instances when public organizations have sought the services of private contractors. Garbage collection service (Berman, E., 2006, p. 176) is one. For example, the State of New York has made privatization an option in their solid waste collection problem. (DiNapoli, T., n.d) Another instance is when hospitals acquire private contracts for services in indigent care and public health. (Berman, E., 2006, p. 176) Research conducted on the matter suggests that privatization of a public hospital can be a solution to efficiency and service quality issues. (Metsch, J.M., et. al., 1997) Privatization becomes an advantage when it means the service will be prompt and efficient (Berman, E., 2006, p. 176) and provide savings (Berman, E., 2006, p. 176) However, privatization also comes with risks suc h as the existence of private monopolies (Berman, E., 2006, p. 177) and underperformance of the contractor (Berman, E., 2006, p. 176).The aspect in my organization that could be contracted out is the security system, both equipment and personnel. This should be contracted because recent events have shown that lapses in this aspect have resulted to severe consequences. Currently, my organization does not have adequate means to keep track of the students it is responsible for. Getting new personnel does not ensure that losing a student will happen again. It also does not assure management that those responsible are accountable. However, getting a private contractor to facilitate the installation and maintenance of a security system which would provide the organization with a tracking system would be a big help. With a tracking system in place, it would be easier to account for both students and staff in the organization. ` References:Berman, E.M. (2006). Performance and productivity and Nonprofit Organizations. (2nd ed.). Armonk, N.Y.: ME. Sharpe, Inc.DiNapoli, T. (n.d.) Cost-Saving Ideas: Evaluating Solid Waste Collection Options. Retrieved from osc.state.ny.us/localgov/costsavings/waste.htmMetsch, J.M. , et. al. (1997). Privatization of a public hospital: a quality improvement strategy. Quality Management in Health Care, 5(2): 19-26. Retrieved from ncbi.nlm.nih.gov/pubmed/10166209

Follow This Word Order for the Best French Sentences

Follow This Word Order for the Best French Sentences The order of words in a French sentence can be confusing, especially if you have, as we do, dual-verb constructions, object and adverbial pronouns, and negative structures. Here, were going to take a look at all of these and suggest the best positioning of words so that you dont end up with French sentences that make no sense. Dual-Verb Constructions Dual-verb constructions consist of a conjugated  semi-auxiliary verb, such as  pouvoir and  devoir  (called  modal verbs  in English),  vouloir,  aller,  espà ©rer, and  promettre, followed by a second verb in the infinitive. The two verbs may or may not be joined by a preposition.   Dual-verb constructions have a slightly different word order than compound verbs tenses. Word order is important because, if you get it wrong, the sentence will read like nonsense in French. Object and Reflexive Pronouns Object and reflexive pronouns are usually  placed between the two verbs and after the preposition(if any) that follows the conjugated verb. Adverbial pronouns are always placed in this position. Je dois me les brosser.   I need to brush them.Je vais te le donner. Im going to give it to you. Nous espà ©rons y aller. We hope to go there. Je promets de le manger. I promise to eat it.Il continuera ten parler.   Hell continue to talk to you about it. Sometimes the object pronoun should precede the first verb. In order to determine this, think about which verb is being modified. Why? Because in French, the object pronoun must go in front of the verb it modifies.  The wrong place may give you a grammatically incorrect sentence or may even change the meaning of the sentence. Consider the examples in this chart. Correct Pronoun Placement X Il aide nous travailler. X Hes helping work us. Il nous aide travailler. Hes helping us work. X Elle invite me venir. X Shes inviting to come me. Elle minvite venir. Shes inviting me to come. X Je promets de te manger. X I promise to eat you. Je te promets de manger. I promise you that Ill eat. Je promets de le manger. I promise that Ill eat it. Je te promets de le manger. I promise you that Ill eat it. Negative Constructions Negative structures surround the conjugated verb and precede the preposition (if any). Correct Negative Structure Placement Je ne vais pas tudier. Im not going to study. Nous nesprons jamais voyager. We never hope to travel. Je ne promets que de travailler. I only promise to work. Il ne continue pas lire. Hes not continuing to read. Pronouns Plus Negative Construction In a sentence with both pronouns and a negative structure, the order is: ne   object pronoun (if applicable) conjugated verb part two of negative structure preposition (if any) object pronoun(s) adverbial pronoun(s) infinitive Correct Placement of Pronouns and Negative Structures Je ne vais jamais te le donner. Im never going to give it to you. Nous nesprons pas y aller. We dont hope to go there. Il ne continue pas y travailler. He isnt continuing to work there. Je ne promets pas de le manger. I dont promise to eat it. Je ne te promets pas de le manger. I dont promise you that Ill eat it. Je ne te promets pas dy aller. I dont promise you that Ill go there.

Cross Cultural Management. Importance of Value Essay

Cross Cultural Management. Importance of Value - Essay Example Cross cultural management refers to a mechanism formulated to train people regarding the variations of practices, preferences, and culture in global business. With the lapse of time, diversity in practices, cultures, and preferences of consumers increase substantially, thereby increasing the need to bridge the communication gap by implementing cross cultural management. In management, cultural differences refer to varying taste, preferences, culture, likes and dislikes, ways of communications, norms, values, and beliefs of every culture. The objective of this paper is to examine the cultural variations in the light of scholarly articles as mentioned in two renowned models. An extensive study of Hofstede and Schwarts model will be done followed by a criticism of Hofstede model. These two models can be viewed in terms of how the business managers react to cross cultural management. The business managers face various sorts of cultural issues while performing their tasks e.g. workforce d iversity, language barriers, religious issues etc. Under these circumstances, it is highly effective for the business managers to understand these two cross cultural models and incorporate their effects in their organizational context. Importance of Value Hofstede and Schwartz have studies cross cultural values and their findings are in the subsequent parts of this section in order to gain acquaintance with importance of value and varying values in different culture. Hofstede Model Hofstede (1993) stated that when management theorists embark to other parts of the world, outside their own country, they encounter strange customers, beings, theories, organizing and disorganizing, immoral or old-fashioned ways of doing things. Some of them work but some of them fail to work. After gaining this experience, the traveler comes to home country and can use this experience advantageously. The purpose of the study of Hofstede (1993) was that all great ideas relating to management, politics, or science, have come from different parts of the world and have been enhanced by foreign influences. Hofstede (1993) examined the context of management from different parts of the world. Hofsetde (1993) reviewed the managerial culture of countries like Japan, France, China, Holland, Russia, Germany, Malaysia, Thailand, Taiwan, Singapore, and Hong Kong. Hofstede (1993) stated that management is what is common among all countries but its context and meaning differ to a smaller or a larger extent from country to country. Hofstede (1993) further stated that it requires considerable cultural insight to understand the philosophies, processes, and problems. Further arguing, Hofstede (1993) stated that if management is such a broad word and it means so many varying things, then it cannot be expected that management theories of one country will be applicable to abroad as well. Management is related to government, politics, and school. It is present in beliefs and religion about science. Manag ement theories are interdisciplinary but as soon as national boundaries are crossed, it becomes more interdisciplinary. By stating so, Hofstede (1993) divided cultural difference into five dimensions. i. Power distance; inequality among people that is considered as normal among people ii. Individualism vs. collectivism; degree to which people of a country tend to act as individuals instead of a members of a group iii. Masculinity vs. femininity; where tough values like performance, assertiveness, success prevail over gentle values such warm relation, care, quality of life. iv. Uncertainty avoidance; people preferring planned situation over unstructured ones. v. Long-term orientation vs. short-term orientation; long-term refers to values

Critically examine theory of demand supported by the examples from Essay

Critically examine theory of demand supported by the examples from wine Industry (moldovan wine) - Essay Example In other words, there is a likelihood of people tending to purchase a different product that can give them the same satisfaction or other alternatives in which they spend a smaller amount of money (Cachon & Terwiesch, 47). The relationship between price and quantity demanded is represented in the figure below (fig. 1) There are various determinants of the quantity demanded, which lead to a shift in the demand curve. The shift is either outwards whereby the demand of a product goes up or goes down (inward shift). Consumer tastes and preferences are among the determinants that can either increase or decrease the demand (Fairey, 31). For example, if consumers gain confidence in Moldovan Wine, they are likely to buy more than other kinds of wines. In such a situation, even if the price increases and that of other wines reduce, the demand may not react to the price changes. The tastes of consumers shift the demand to the right. On the other hand, if it does not satisfy consumer preferences, the demand falls (shifts to the left). The number of consumers in the particular market is also a major determinant of demand. If more consumers enter the market, the quantity demanded increases (Cachon & Terwiesch, 66). For example, if the number of Russian and other nationals in the region increases in South Africa during the FIFA world cup, the demand for Miestii Mici may rise as people tend to get a taste of the wine that they are used to. In the regions where the wine is not known to many consumers, less of it is consumed. The income of consumers also affects the demand of a commodity. For example, Miestii Mici is affordable to even the low income consumers and therefore the demand is usually high among people of diverse income levels. The prices of related goods are also a major determinant of the demand for a product. If there happens to be another product that can be used as a substitute for the Moldovan wine, consumers tend to purchase what is easily