Causes of Environmental Problems Essay Example

Reasons for Environmental Problems Paper The Earth is our home and where we live. Be that as it may, these years, an ever increasing number of issues are coming to demolish our mom land, for example, political components, wars, and ecological issues. The ecological issues, for example, overpopulation, utilization of petroleum derivatives or atomic vitality and deforestation are getting increasingly dismal, and hurtful to the earth. The air contamination and water contamination has clearly gotten two of the most major issues on the planet. Air contamination is the serious issue on the planet. In present day life, a retreat arrangement of vitality is expected to run the production lines of mechanical countries. Cars, prepares, and planes, are methods of our day by day transportation that additionally utilizes vitality simultaneously they consume energizes, produce squanders, and some of which stay noticeable all around. Vehicles have made the air unfortunate for individuals to inhale and noxious gas is emitted by production lines and causes air contamination. I read a bit of news as of late. It said that in Japan, numerous representatives are offering natural air to clients, and now it is turning out to be increasingly well known. Why? Outside air is getting less and less in Japan and around the globe. We will compose a custom paper test on Causes of Environmental Problems explicitly for you for just $16.38 $13.9/page Request now We will compose a custom article test on Causes of Environmental Problems explicitly for you FOR ONLY $16.38 $13.9/page Recruit Writer We will compose a custom article test on Causes of Environmental Problems explicitly for you FOR ONLY $16.38 $13.9/page Recruit Writer Much the same as the air, water is additionally a wellspring of life. Water contamination has likewise become a major issue on the planet. Individuals cannot live without water. A portion of our manufacturing plants are dirtying the waters. Streams everywhere throughout the world are getting contaminated with trash and risky synthetic compounds. Ships likewise add to the issue since they depend on streams for discarding squanders. Oil and different synthetic concoctions can slaughter fish and make water dangerous for drinking. Many fish are biting the dust. An ever increasing number of amphibian living beings are vanishing from the world. Some contaminated waters are in any event, harming individuals. Additionally, trees on the slopes have been chopped down; so squander water is being emptied constantly into waterways. All in all, air contamination and water contamination are become major issues on the planet. We should discover an answer for these issues. I think the administrations of all nations should plan rules and guidelines to manage the contamination issues. The individuals ought to be progressively mindful of the ecological issues and be increasingly upright about thinking about the earth. I trust the difficult will be unraveled soon and our lives will turn out to be better and better.

British Constitution Essay Example | Topics and Well Written Essays - 1000 words - 2

English Constitution - Essay Example The Blacks Law Dictionary is especially intricate giving the points of interest of a constitution. As indicated by the Blacks Law Dictionary, meaning of constitution the British constitution applies to this definition to some littler degree. Most countries have composed constitutions, for example, constitutions of most present day popular governments. The constitution of Britain, on the other hand, is unwritten or uncodified. Its conventions are casual and dependent on a few unique laws. In contrast to different majority rules systems, Britain has no official record that clarifies the administration of the country. The absence of a composed archive connects to the British history. England never encountered a transformation like different nations, and never had any system change. Along these lines, their constitution kept on advancing for so long and this joined with the general security of Britain, improvement of a constitution never happened. Specialists relating to constitution as a rule allude to a few laws, bargains and shows, which they accumulate to make up a constitution. T he few accumulations that make up a constitution incorporate Acts of Parliament, Treaties, shows, Royal right, works of power, European Union law and the Common law. Their constitution is by measures less vote based, not clear and not responsible enough to oversee a nation in the cutting edge majority rule world (KING, 2009). Not at all like constitutions of most popular governments that direct conveyance of capacity to different organs, in Britain such force lives in the arms of the crown. Force that is boundless and untouchable gets from the crown where the sovereign activities some of it and the greater part of it by the legislature. The sovereign activities four established forces. These are just restricted to her, and no one can practice them for the benefit of her. They incorporate the ability to picked and select the nations leader, the ability to break down a sitting parliament, excusal of government and the ability to retain illustrious consent to enactment

Tech Tips To Improve Your Sales Department

Tech Tips To Improve Your Sales Department Make Money Online Queries? Struggling To Get Traffic To Your Blog? Sign Up On (HBB) Forum Now!Tech Tips To Improve Your Sales DepartmentUpdated On 21/08/2018Author : Pradeep KumarTopic : BusinessShort URL : http://hbb.me/1Rslp1J CONNECT WITH HBB ON SOCIAL MEDIA Follow @HellBoundBlogIf you want to improve your sales department then you need to analyse your team first. It’s vital that sales teams are designed to be as effective and efficient as possible. In this high-tech age, some solutions can be integrated into existing sales departments to improve their productivity levels and enhance the customer’s experience. More advanced phone systems and data handling methods can make a substantial difference to how your teams operate and improve performance across the organization.Improve Your Sales Department1. An effective sales teamThe fundamental principles of an effective sales team havent altered over the years, but the use of technology can make these easier to achieve. The focus for all sales based businesses is to generate more leads and close more. However, companies that do not keep their team up to date can slow this process down. Basic administrative tasks, including inputting data, are a necessary part of a sales role. This one area can be enhanced by the use of better technology.A large number of sales people spend a substantial amount of their time out of the office seeing customers. Being away from the main network can reduce their efficiency because they don’t always have the right information to hand. However, the growth of mobile technology and better network access means that they can view real-time data and keep on top of their admin wherever they are.2. Enhanced communications and data collectionCommunication and data collection are both important aspects of a sales force, and the processes can be made simpler and smoother with the use of new technology. This can be as straightforward as ensuring all your team has one of the latest smartph ones or tablets. These can be used to carry out a range of tasks, from keeping on top of calls and emails to accessing client information and managing data.READ5 Ways Audio Conferencing Benefits Any BusinessCRM apps can significantly enhance the efficiency of a sales team, by enabling them to access up to the minute data in any location. This allows them to offer accurate pricing to customers and means managers can track progress at any point in the day. There are also more up to date telephone networks that can vastly improve sales departments. These systems, such as the hosted IP PBX system offered by Primus of which can be found on their site, http://primus.ca/business/phone/hosted-pbx/ uses cloud-based technology to keep your business connected. They enable all parts of the business to communicate with each other wherever they are located, including remote workers and regional offices, through a high quality and cost effective network.Sales automation software can also reduce th e need to catch up on administrative tasks, which slows down the system. Contracts and other relevant documents can be signed electronically through online systems and then sent to the appropriate department straightaway. This will speed up the sales process, enabling customers to receive their orders sooner.With all new technology, it’s important that you assess the requirements of your business and choose tools that have a positive impact on your processes. Technology can only be useful if you adopt the right systems: otherwise, it can be more of a hindrance.

Living Policy And Literature Aging - 939 Words

Question 1 Aging in place is a concept that is frequently referred to in assisted living policy and literature. Aging in place is define as â€Å"enabling older adults to remain in their current or preferred environment, with necessary adaptations and support services, to the end of their lives (Singh, 2016). Facilities accommodating residents under this concept are: Continuing Care Retirement Communities (CCRCs) mostly owned and operated by nonprofit organizations. It consists of different levels of services are in separate buildings, but in one location. â€Å"The range of services is based on the concept of aging in place, which accommodates the changing needs of older adults while living in familiar surroundings.† (Singh, 2016 p. 516). The services include: housing, health care, social services, and health and wellness programs. Resident are encouraged an independence lifestyle but assistance and nursing care are available when needed. Singh, 2016). CCRCs are planned comm unities which allow residents to age in place. Sherwood et al., (1997) noted, as part of a long-term contract with the resident, usually for life, the CCRC provides the resident with housing, amenities and a range of services, including supportive services and, when necessary, nursing home care (as cited in Wilson, 2011). Having access to nursing home care along with a commitment to reside in the community distinguishes CCRCs fromShow MoreRelatedThe Prevalence Of Hiv / Aids1532 Words   |  7 Pageshuman immunodeficiency virus infection/acquired immunodeficiency syndrome (HIV/AIDS) are living longer lives and changing the perception of the HIV/AIDS epidemic. There has been extensive research conducted on high risk groups for HIV/AIDS but little has been done to research and address the social aspect of aging and HIV/AIDS. It is important to have a more conclusive understanding of HIV/AIDS in the aging population due to the climbing rate of new infection among older American adults aged 50 andRead MoreEvolution of Programs and Services for Aging Populations Over the Last Fifty Years864 Words   |  4 PagesEvolution of Programs and Services for Aging Populations Over the Last Fifty Years The objective of this study is to examine the evolution of programs and services for aging population over the last fifty years. Toward this end, this brief study will conduct a review of literature that addresses these shifts and changes in policy. The timeline of the history of the services and pogroms for the aging population in the United States is shown in the following timeline and an explanation for these developsRead MoreIncreasing Caregiver Support Service Access And Use Among Chinese Americans1298 Words   |  6 PagesChinese-Americans I. Introduction The policy that will be analyzed is the federal Older American Act Title III-E, which was approved by the Congress in 2000. It regulates National Family Caregiver Support Programs (NFCSP), a categorical non-income-tested program, aiming to provide direct services to informal family caregivers. Under the federal administration from AoA, the NFCSP is carried out through a network of 56 State Units on Aging (SUAs), 655 Area Agencies on Aging (AAAs) and local public or privateRead MoreElderly Senior Population779 Words   |  4 PagesHealth care services and their costs are explicitly important for this population (Rice Fineman, 2004) because the elderly use considerably more health and medical services than the general population due to the increased health risks associated with aging (Kronenfeld, 2004). Additionally, the Baby Boomer generation has a greater potential for poorer health outcomes compared to previous generations, given their higher rates of obesity and the growth in the proportion of racial and ethnic minorities andRead MoreFood Insecurity Among The Aging Population765 Words   |  4 Pagesinsecurity among the aging population. In 2012 15.3% of the aging faced a threat of food insecurity. Further from 2001 to 2012 there was a 44% increase in the aging population experiencing hunger (Ziliak Gundersen, 2013). In 2008 8.1% of households with an elderly individual living in the residence were food insecure, and 8.8% of the elderly living alone were food insecure (Coleman-Jenson, Nord, Andrews, Carlson, 2009). After a dip in 2010 rates of food insecurity among the aging there was an increaseRead MoreSocial Justice : Elder Self Neglect930 Words   |  4 Pages(NCEA), by the year 2050, twenty percent of Americans will be age 65 or older (NEEDS PROPER CITATIONpara. 2). A major issue facing the aging adult is the prevalence of elder abuse and neglect. Of the many forms of elder abuse and neglect, MacLeod Douthit (2015) find Elder self-neglect (ESN) to be the most common and one that affects all demographics of the aging population in the United States (U.S.). While there is no active party in the harm of elders by self-neglect, society has a social responsibilityRead MoreAlzheimer s Disease : A Common Form Of Dementia1311 Words   |  6 Pagespurpose of this research is to help implement policies and practices, and possible funding, in order create art therapies in facilities. In order to improve the lives of those diagnosed with Alzheimer’s and dementia and their caretakers. An analysis of the benefits of Art therapies on Alzheimer’s and dementia For the purpose of this research I am defining arts as a form of expressing ones creativity. This includes but is not limited to literature, performing arts, culinary arts, media arts,Read MoreOverview Of The LGBTQ Community914 Words   |  4 Pagesare increased isolation, stigma, and loss of cognitive functioning (Hoy-Ellis, Ator, Kerr Milford, 2016). In this essay I have chosen to write on this topic and conducted a literature search on EBSCOhost using the search terms ‘LGBTQ’ and ‘aging.’ The following is based on the article, â€Å"Innovative approaches addressing aging and mental health needs in LGBTQ communities† (Hoy-Ellis, Ator, Kerr Milford, 2016). Summary of Findings As individuals, we all face some of the same health issues, but accordingRead MoreCritical Review On Improving The Quality Of Prescribing1497 Words   |  6 Pages Critical Literature Review: Approaches to improving the quality of prescribing in nursing homes Abstract The aging of the population has evoked a new care focus. The proportion of the world’s population aged 60 years and over is predicted to reach one in five by 2050. [-1] Consequently prescribing for older people will escalate accordingly. Prescribing for older people is challenging due to complex medicine regimens and comorbidities. Evidence suggests that suboptimal prescribing still exists. UnnecessaryRead MoreThe Depression Of Older Adult Depression1667 Words   |  7 Pagesolder adults is increasing so are those living with depression; therefore, it is important that perceptions around older adult depression be studied. According to the study done by the US Department of Commerce, it is estimated that the older adult population will more than likely double by 2050 and of 80 million and many as 1 in 5 Americans would be considered as an older adult (US Department of Commerce, 1995). There are many losses that accompany the aging process. These include the loss of loved

Cyber Espionage - 3202 Words

ABSTRACT The aim of this report is to examine the topic of cyber espionage. Incidents and threats of espionage committed using software tools have become frequent headlines in news stories in recent years, thus the existence of cyber espionage is undeniable. This report begins with an introduction of the topic, followed by a literature review. Moving on, two case studies specifically involving the use of Trojans and sniffers to commit espionage will be discussed. The scope of these case studies includes the attack mechanisms used and the countermeasures that could plausibly be adopted, as well as a discussion of each case. 1.0 INTRODUCTION Cyber espionage is the use of software tools to obtain secret or private information†¦show more content†¦An attacker can run malicious commands on an infected system to delete important files from the victim system, or format the entire disk. Attackers can also infect systems with a Trojan and use it to attack another pre-defined third party sy stem. Some Trojans have inbuilt keylogging capabilities to record keystrokes made by the victim on the infected system. These Trojans can be configured to automatically covertly email the log file containing the recorded keystrokes to a pre-defined email address. It is further possible to configure an autodestruct feature in the Trojan, so that it automatically gets destroyed at a pre-specified date, and hence leaves few traces behind. Such Trojans are capable of: - Stealing the contents of sensitive emails and documents - Recording passwords, credit card numbers, account information etc. - Stealing software programming code 2.3.2 Sniffers Sniffers are recording softwares that record and store data packets being sent across a network. Typically, sniffers can be used to capture, interpret and store data packets being sent across the network. These captured data packets can be studied and analyzed to understand solve network problems and keep track of network traffic. In espionage, sniffers are used to capture sensitive data being sent across the target network. Common espionage threats associated with sniffers include: - Passwords, bank accountShow MoreRelatedSecurity And Privacy : Cyber Espionage2380 Words   |  10 Pagesare their another strengths. 3.0 HACKERS AND THEIR MOTIVES: †¢ who is Attacking? ï‚ § Cyber Espionage ï‚ § Industrial Espionage ï‚ § Malicious Insider ï‚ § Cyber Criminals ï‚ § Personal Attacks †¢ Where are they from? Cyber Espionage are generally who targets on national and international spying to steal bank s sensitive information, They could be someone intentionally hired by government or organizations. Industrial Espionage were who target s on competitive companies, They could be hired by organization. MaliciousRead MoreCyber Espionage3573 Words   |  15 PagesCyber espionage:- Definition:- Cyber espionage (also spelled cyber espionage) â€Å" | involves the unauthorized probing to test a target computer’s configuration or evaluate its system defenses, or the unauthorized viewing and copying of data files. | † | â€Å" | uses computer or related systems to collect intelligence or enable certain operations, whether in cyberspace or the real world. | † | Cyber spying, or  cyber  espionage, is the act or practice of obtaining secrets without the permission ofRead MoreCyber Espionage4042 Words   |  17 PagesCyber Espionage In India Cyber espionage is an area that has recently attracted the attentions of Indian government and corporate houses alike. Both Indian government and corporate houses are the biggest loosers from cyber espionage. Sensitive information on national security and trade secrets and commercial information has been occasionally stolen through cyber espionage in India. India has been a victim of cyber espionage on many occasions where crackers operating in foreign jurisdictionsRead MoreCyber Espionage And Cyber Terrorism987 Words   |  4 Pagesthat 90% of companies worldwide admits on having being unprepared to protect themselves from any type of cyber-attacks. Large corporations like Target and Hope Depot has been target cyber security breach. That compromise thousands of employees and customers confidential information such as the social security number and credit cards accounts. But some small business weren’t so lucky, as cyber criminals took control of their entire network and completely destroying the whole company. Cybercrime willRead MoreCyber Espionage Attacks And Cyber Attacks1662 Words   |  7 PagesCyber Espionage Attacks This kind of attacks differ from other types of cyber-attacks as they have a different source from where the actual attack comes from, which is mainly from within the organization that is being attacked. It may be the most difficult type of attack in which organizations are able to defend themselves from, for example if the attack is emanating from an individual that holds a high rank within the company. Taking an example of the United States where the government has a processRead MoreCyber Espionage In China Essay767 Words   |  4 Pagesagencies were specifically targeted for cyber espionage. On July 9, 2013, Larry Wortzel, a member of the U.S.-China Economic and Security Review Commission testified before the House of Representatives, Committee on Energy and Commerce Subcommittee on Oversight and Investigation. He revealed the following assessment of China’s cyber activities against the United States. China is using its advanced cyber capabilities to conduct large-scale cyber espionage. China to date has compromised a rangeRead MoreEssay On Cyber Espionage In China750 Words   |  3 PagesChina concerning economic espionage has been viewed with both optimism and skepticism. It’s the first agreement of any substance on the issue, which is a hopeful sign. China doesn’t enjoy a reputation of carefully adhering to international agreements and there is doubt about whether the agreement will have any practical effect on China’s behavior. Since the early 2000s, cyber espionage issues have increasingly strained U.S.-China relations. All countries engage in espionage, but China is one of theRead MoreWhy Chinas Cyber Espionage Is A Threat1822 Words   |  8 Pages Why China’s Cyber Espionage is a Threat Cyber espionage is the act of attempting to penetrate an adversarial system for the purposes of extracting sensitive or protected data of either social or technical in nature. They are illicit activities that range from the commercial and economic to the political and strategic. They include small nuisance attacks to matters of high magnitude and importance like the national security and intelligence (Cornish 2012). Chinese cyber espionage has continued toRead MoreIs Huawei A Bad Reputation For Cyber Espionage? Essay700 Words   |  3 Pages3com led to Huawei not landing any major US contracts. This seems to be having a small domino effect in other countries also, examples being UK government offices scrapping all Huawei video intercom devices and even going so far as to review a UK cyber security centre run by Huawei, also, India’s state owned BSNL dropping Huawei from it’s suppliers after being advised by India’s own intelligence bureau, stating that Huawei ca n not be trusted with it’s sensitive telecom expansion. Similarly, AustralianRead MoreProblems with Ethiopia’s Unofficial Cyber Espionage Essay1038 Words   |  5 PagesEthiopia advanced in cyber espionage against its citizen’s. Innocent journalist from local and from other countries are being tortured, killed and imprisoned for speaking their opinions to the world. Ethiopia’s unofficial cyber espionage program targets innocent journalists and violates the United Nations-The International Covenant on Civil and Political Rights - Article 19 Freedom of Expression. The purpose of this paper will address problems with Ethiopia’s unofficial cyber espionage and evaluate the

Negative Effects of Classism - 803 Words

Negative Effects Of Classism Have you ever been judged by the way you look or act? How about just for your income? Social classes have existed for many centuries, whether you are rich or poor, there has always been a large group of people who share a similar economic and/or social position. In society, citizens are put into classes based upon their income, wealth, property ownership, and job status. When citizens are put into a â€Å"class† whether it is high or low, it affects their way of life. For example; when the working class feels like they’re not good enough, it might be because someone in the higher class is acting ignorant or superior towards the lower class. When citizens are not treated equally due to their social status, this is†¦show more content†¦The middle class is a set of workers who are quite educated, wise, and overall more successful than the working class. The middle class is considered the average or the suitable of the three main classes, mostly because they make a much higher salary than the working class but not enough to be considered the higher class. The middle class is the majority of people in the United States. Occasionally the middle class consider thoughts and assumptions that the sociability of this country towards them are true which leads them to believe it and as well as act it out towards others. The reimbursements or the â€Å"benefits† of being in the middle class provide access to health care benefits such as Medicare or medicate, a home that’s stable enough to live in, a great secure job, as well as retirement security for the seniors of this class and most importantly many chances of a good education which comprises a college education as well. Since million of the households in this country are in the middle class, it’s hard to discriminate or judge against a class where a majority of the United States citizens in are in or close too. The â€Å"higher class† in America consists of people who have mostly inherited their money. Historically in some cultures, members of an upper class often did not have to work for a living, as they were supported by earned or inherited investments. The main distinguishing feature of upper classShow MoreRelatedThe Effect Of Media On Classism1484 Words   |  6 PagesBrittany A Brooks The Effect of Media on Classism University of Central Missouri â€Æ' The Effect of Media on Classism Class and the Media The United States was built on the concept of the American dream. The idea that anyone can achieve success if they just work hard enough and are determined enough is very lucrative. Unfortunately the American dream is not as obtainable as many think. 65% of children raised in the bottom fifth income bracket will remain in the bottom two brackets (Adams, et al., 2013Read MoreClassism in North America1216 Words   |  5 Pagesï » ¿Classism in North America    Classism is a big dilemma in several parts of the world such as North America. The word  Classism  was derived from  Class  and  -ism; the word  Class  descended from a French word, Classe, and a Latin word Classis. The word was originally created by Servius Tullius in one of the six orders into which he used to divide the Roman people for the purpose of taxation. Those words together make the word Classism which means a biased or discriminatory attitude based on distinctionsRead MoreMy Early Experiences With Trauma1298 Words   |  6 Pagescaused me to have improper reactions of calling people out on their statement, which usually came out with the same surprising response. I feel that most people who use microaggressions are unaware that they engage in racial communications that are negative or derogatory insults to people of color. Microaggressions are the current forms of discrimination that are more subtle than direct, and I’m stunned that only when I called people out on their words were they unconsciously discriminating. While theseRead MoreInternalized Oppression Reflection1141 Words   |  5 Pagesfrom. Classism affects a huge amount of our population, â€Å"... approximately 10 percent of the U.S. Population owned 70 percent of all American wealth (such as savings, home equity, consumer goods, stocks, bonds, and real estate) by 2001 (Collings amp; Yeskel, 2005), this wide ranging oppression also manifests itself more harshly in combination when it intersects with other identities. Confronting classism, is something that seems almost impossible but dealing with my own internalized classism may beRead MoreThe Subjugation Of The African American Race879 Words   |  4 PagesAmerican Race: Living in Poverty/ Health Effects In America, it is to no surprise that a large percentage of the African American race has and still is struggling financially. Many African-Americans are subjected to live in poorer areas where sanitation isn’t as heavily emphasized compared to more prosperous neighborhoods. Due to this blatant divide there has been many detrimental effects this has to minority communities. In specificallyRead MorePoverty and Classism752 Words   |  4 Pagesevery year that 14.5 American children continue to live in poverty (Koppelman and Goodhart, 2007). Sadly the seriousness of poverty is still often clouded by myths and misunderstandings by society at large. This essay studies the issue of poverty and classism in todays society. Causes of Poverty One of the main causes of poverty is the lack of education. The U.S. education system denies students in poverty the opportunities and access it affords to most other students. Without good educationRead MoreRacism In The Great Gatsby Analysis985 Words   |  4 PagesJazz and The Great Gatsby: Racism vs. Classism F. Scott Fitzgerald, author of The Great Gatsby, and Toni Morrison, author of Jazz, both write about America in the roaring 20’s, but the viewpoint from which both stories are told are completely different. Jazz embodies the story of a love affair gone wrong. Although it was very dense reading, the book goes back and forth from flashbacks and to the current time to show all of the interpersonal connections between the multitude of characters. The GreatRead MorePoverty Is A Growing Problem Around The World With Millions Of People1267 Words   |  6 Pagesare rentals (or tenant housings), and seven percent of residents live in derelict housing (Social Planning Research Council, 2012). This abundance of poverty is structurally maintained through the results of capitalism, the existence of classism, and the effects of oppression. Hamilton is one of the most highly industrialized cities in Canada, with the vast majority of Hamiltonians working as wage laborers. The purpose of capitalism is to create wealth, yet the system that is used to ensure thisRead MoreIncreasing the Average Life Expectancy Essay1497 Words   |  6 Pageslegal, and ethical issues. In this paper I will talk about two forms of life extending technology that are currently available, the social, legal, and ethical issues involving life extending technology, why I believe life extending technology is a negative right, and why I believe that medical scientists’ should continue researching life extending technology. Currently medical scientists’ do not know the secrets of aging. However, there are a few ways that they have discovered could help you maintainRead MoreReflective Reflection On Diversity1028 Words   |  5 PagesAn additional goal I would like to implement, is to be an advocate of accessing high-quality early childhood education for diverse children, such as to prepare them for school readiness. The four â€Å"isms â€Å" I chose for scenarios are racism, ageism, classism and sexism: (1) Racism-Linda Davis, who is a white first teacher, asked the children to draw a Santa Clause on paper. When the only black student asked her could he color his face, she told him he could not. She stated that Santa’s face should be

Education The Sunshine of Human Race

Question: Write essay on "what would you say to someone who thinks education doesn't matter,or that college is a waste of time and money". Answer: Education: The sunshine of human race Education is the system of creating cultures and values in human race and when we talk about education, it does not only count for tangible experience of knowledge books but also values the intangible experience of life.The best lines on education states its importance in strong words The whole purpose of education is to turn mirrors into windows.(Sydney) In simple words, education prepares an individual to see beyond the insights of life. Someone who have thoughts like education is a waste, either do not fully understand the fruitfulness of education or lacks enlightenment to create better lifestyle. Preparation and development of aspects and prospects in an individual starts with consistent belief in education pedagogy. From being a toddler to professional, though the journey is longer but it develops a strong future when followed with discipline and hard work. Without education, it is nearly impossible to walk with exoteric, open and liberal system of society. Education can never be wastage of time and money because it is the only investment that have definite returns of bright future and change-oriented life. The work life today have growing challenges and to tackle such stiff competition, there arises need for specific skills and abilities. Only education can fill the gap to develop need based skills and make the industrial growth better.We cannot think of modernized society without the base of education. (Puja). To conclude, the world needs better people and environment and trust on education is must to ensure survival. References: Harris, S. (n.d), Educationquotes, In brainyquote ,Retrieved July 13, 2016 fromhttps://www.brainyquote.com/quotes/quotes/s/sydneyjha104885.html Mondal, P. (n.d), Essay on education, Inyourarticlelibrary,Retrieved July 13, 2016 fromhttps://www.yourarticlelibrary.com/essay/essay-on-education-short-essay-on-education/30743/

Introduce a new Product to the Australia and New Zealand Markets

6 successful ways to start your workday

6 successful ways to start your workday Do you have a hard time hitting the desk running, so to speak, on any given work day? Try following some of these strategies to jumpstart your work mornings and make yourself more productive and engaged from the get-go. 1. Establish a pre-work routine at home.First, you have to lay a solid foundation, which means a good night’s sleep. Then, when you hopefully wake up well rested, throw in a nice stretch or short bit of exercise. Get your blood moving- whether you have five minutes to spare for some yoga or can squeeze in 30 minutes of a solid workout. You’ll feel more awake, more grounded, and more capable. Then eat something with a bit of protein that will fuel your morning. Finally, if you’re a caffeine person, have your coffee or tea.2. Dress to feel and perform your best.You don’t have to go formal to â€Å"dress the part.† If you work from home, at least change out of your pajamas to differentiate your lounging self from your working self. If y ou don’t, aim for work clothes that make you feel comfortable and empowered.3. Start on time.Whether your commute is the five steps it takes you to get from the kitchen table to the couch or 45 minutes of driving, busing, or biking, arrive at your desk on time. To perform your best, consider â€Å"on time† to be five minutes early–that gives you time to collect your thoughts and set yourself up for the day ahead.4. Take a moment to just think.A moment of peace can be a moment well-spent- every morning pause to have a nice, mindful think about how things are going, what you’ve been accomplishing, and what you’d like to get done that day. Reacquaint yourself with your to-do list. Pause for a second and engage. Your work day will be much more bearable this way because you  will be in charge of managing the day (and not the other way around). Map out your day, allowing for small adjustments here and there.5. Get comfortable.Figure out the most ideal work set-up for your productivity. Maybe that’s a standing desk, or an exercise ball, or a lumbar support, or a footrest under your desk. Make sure everything in your workspace is de-cluttered and positioned to make yourself physically capable of sitting there and doing what you need to do.6. Eliminate distractions.Devise a system that will make you less vulnerable to interruptions. When you sit down for the day, turn off notifications, put your phone in a bag or a drawer, and focus- at least for long stretches of time. If it helps, set a timer to help you keep break time, mindless task time, and productive project time separate. And do yourself a favor: don’t check your email all the time. Set yourself designated times instead.The main takeaway from these tips is to remain mindful and put systems in place. If you establish a morning routine and stick with it for at least 2 weeks, these good habits will soon become the norm!

Project Management - Communication for Improvement Essay

Project Management - Communication for Improvement - Essay Example 22 2.2.3. HR and Finance Section of DoT: In Focus 22 2.3. The Survey Results 24 2.4. Synthesis 29 2.5. The Option 31 3. Research Analysis 32 3.1. Analysis of the Findings 32 3.2. Recommendations 37 3.3. Evaluation of Recommendations 38 4. The Presentation 40 4.1. Presentation 40 4.2. Results of the Findings 41 4.3. Impact of the Project 42 References 43 List of Figures and Tables Figure 1 p. 7 Figure 2 p.9 Figure 3 p. 16 Figure 4 p.34 Table 1 p. 24 Table 2 p. 36 Table 3 p.37 Name Professor Subject Date Project Management: Department of Transportation and Communication 1. Introduction Crucial in the timely delivery of government services to the people is the appropriate allocation and use of funds and resources by government agencies. It is a recognized fact that public resources are also limited, and as such, a sagacious use of public resources is critical to help citizens obtain the means in attaining the good life. From this perspective, it becomes clear why project management is i ncorporated as the government department and agencies. Since, project management is the application of knowledge, skills, tools and techniques to project activities to meet project requirement (PMBOK Guide). It requires planning, organizing, controlling, and monitoring activities to comply with project requisites. As such, it is pivotal that in managing projects (1) identifying project requirements and establishing objectives to attain it (2) managing competing priorities and (3) satisfying identified stakeholders while working with the constraints of time, cost, and scope (PMBOK Guide). In effect, through project management, government projects are delivered more effectively and efficiently as selection, control, and evaluation are processes integrated in government projects, thus, creating measures protecting public funds and resources and securing the interests of the citizenry. Guided by the ethos of service to the people, economic growth, pursuit of quality of life, and environ mental sustainability, the Department of Transportation – Abu Dhabi (DoT) has embarked in establishing world class transportation system that is not only efficient and well integrated but, it also â€Å"serves the public interest by enhancing mobility and delivering safe, secure and environmentally responsible Aviation, Maritime, Public Transport and Highways sectors† (http://dot.abudhabi.ae). These vision and mission are founded on the principles of excellence, commitment, integrity, cooperation, transparency, and efficiency (http://dot.abudhabi.ae). In turning this vision-mission into reality, DoT has identified five objectives. These are (1) Reducing congestion and enhancing mobility within the Emirate of Abu Dhabi. (2) Enhancing transport safety and security in coordination with key stakeholders. (3) Providing high quality and reliable transport services to all areas within the Emirate. (4) Establishing an effective and efficient transport sector that responds to t he rapid growth of Abu Dhabi’s economy. (5) Building a collaborative and result-oriented organization to achieve the set goals (http://dot.abudhabi.ae). These objectives are aligned with the ideals of â€Å"world-class standards, emiratisation, privatization, cost-efficiency, accountability, transparency, and sustainability† (http://dot.abudhabi.ae). Considering the various scopes of DoT objectives, this study will center on the fifth objective, â€Å"

The characteristics of small business owners&8223, and the nature of Essay

The characteristics of small business owners‟, and the nature of small business in general - Essay Example Small businesses are usually sole proprietorship companies that are run by individuals or families. The success of small businesses largely depends on their owners and the resources available to them (English, 2006). There are many desirable characteristics of small business owners, namely (a) opportunity seekers, (b) risk-takers, (c) persistent, (d) committed to work, (e) goal setters, (f) information seekers, (g) knows how to demand for quality and efficiency, (h) good in planning and monitoring, (i) persuasive and knows how to communicate ideas, and (j) confident ((English, 2006; English and Moate, 2009; Deakins, and Freel, 2009). To get a clearer picture of how small businesses work and what important characteristics small business owners should have, let us discuss these things one by one. II. Characteristics of Small Businesses in General One of the main advantages of small businesses is flexibility and the ability to move quickly (Deakins, and Freel, 2009). Note that in small businesses, the owners are usually at the helm of the operations and can decide immediately on issues concerning the business. Also, in small businesses, there are very few management levels which make decision-making processes less complicated (Deakins, and Freel, 2009). Since small businesses are flexible, it can easily jump into certain opportunities. ... This kind of open and fluid communication is usually absent in bigger companies so it takes longer time for bigger companies to decide on certain production issues and meet the demands of the market. Small businesses have many disadvantages but they also have disadvantages. One of the biggest disadvantages of small businesses is limited capital. Most small businesses are financed directly from the pocket of their owners so they do not usually have that much start-up capital (Gerber, 2001). Generating capital through bank loans may also prove to be quite a challenge for small businesses since they establishments do not have enough assets to serve as guarantee for loans (Gerber, 2001). In most cases, small business owners have to mortgage their personal properties to finance their businesses. Since small businesses have limited capital, these establishments may find it difficult to development their products properly and reach their target market efficiently (Gerber, 2001). Operating o n shoe-string budget often takes its toll on small businesses and many of these establishments go bankrupt during the first six months of operation. III. Characteristics of Small Business Owners Running a small business is challenging and it takes a special breed of entrepreneurs to set-up and run this kind of establishment. According to Zahra et al. (2009), running a small business is like running a guerilla army with limited resources in a flexible environment that allows the entrepreneur to innovate and be creative. As earlier mentioned in this essay, there are many desirable characteristics of small business owners. In order to survive in a very competitive market, small business owners must know how to spot opportunities and act

Theoretical Analysis of the Banking Crisis

Theoretical Analysis of the Banking Crisis Crisis in the banking sector The current crisis and the Great Depression Theories and the crises: Several theories exist connected to the financial crises that have happened since the banking system was established. Some of them tried to explain the reasons and the origin of them however none of these theories could provide an acceptable solution how to prevent the crisis. To determine the continuity in the timeline and the spread of the crisis it was not enough to create just an economic comparison. The analysts set some mathematical and other type of model to investigate the behavior of the market. The two mostly accepted models of banking panics are the Diamond and Dybvig model and the Calomiris and Kahn model. These models were set in the 1990s as the reflection of the systematic banking crisis since 1970.Both of the two theories were accepted the fact that the banks liabilities are more liquid than its assets. In the Diamond and Dybvig model they set a hypothetical world without the banking system. The banks make contract to transform its illiquid assets.( Federal Reserve Bank of Minneapolis Quarterly Review Vol. 24, No. 1, winter 2000, pp. 14-23, Dybvig: Bank Runs, Deposit Insurance, and Liquidity).The problems with the contract is that it doesnt include any risk-sharing option. The deposit insurance is the only way to reduce the risk because its decrease the ability of the bank to transform its assets. The asymmetric information affects the liquidity demand. The final conclusion of this model is that the bank run is triggered only because patient agents believe.†This result is a self-fulfilling prophecy (panic): Because patient agents expect other patient agents to withdraw their funds early, they do the same. As a consequence too many funds are actually withdrawn, which otherwise would have not been the case. (Banking and Finance /Banking Crises.ppt/2008.12.03)† The Calomiris and Kahn model basis is the Diamond and Dybvig model, but it is more complex (Charles W. Calomiris, Charles M. Kahn, â€Å"The Role of Demandable Debt in Structuring Optimal Banking Arrangements† in American Economic Review, Vol. 81, 1991). They introduced one other potential option that the banks follow a risky behavior and put their investors money into risky projects. Because the asymmetric information the investors dont know about this step. Then, two possible things can happen; the project turns out well or not. If the project turns out negatively the bank starts to invest again. In the model the depositors can purchase information, but if is shows a negative indicator they withdraw their money. If there are a huge number of the depositors who want to withdraw the bank has serious liquidity problems and the bank panic starts. The only possible solution, according to this model, is to increase monitoring in the banking sector and strengthen the regulation to avoid moral hazard. I. The Great Depression 1. The beginning of the Great Depression (1928-30) The history of the Great Depression is important to analyze the main aspect of the crisis. From May of 1928 the stock market rise continuously and the average stock price increased because the FED raised its discount rate, and saw the stock market was booming and the stock price doubled, as excessive speculation. They tried to resolve this by increased monetary policy to raise interest rate and a new deflationary policy was introduced. As a consequence, a huge financial bubble evolved. In October 22, 1929 New York Times published an article; â€Å"Fisher Says Prices of Stocks Are Low†. (The 1929 Stock Market: Irving Fisher Was Right, Ellen R. Mc Grattan p.1) Then, two days later the stock market went crashing and the stock prices had fallen by 30 %: According to Irving Fisher the problem was that the people have been speculating on the small margins. It was not that the stock market was too high, but the people so enthusiastic to making money that they properly expected to mak e. It created debts because the people bought stocks on borrowed money. The politicians issued optimistic predictions to prevent the selling panic in the U.S. market (The causes of the 1929 stock market crash, Harold Bierman).The secretary of the Treasury, Andrew W. Melon stated: â€Å"There is no cause to worry. The high tide of prosperity will continue†. The stock market did come back in the middle of 1930, more than half of the stock that has been decline as been reversed. People thought it was over recession turned into something different. The agriculture sector stocks continued to decline. This regressive tendency was intensive not only because the Great Depression. Massive overproduction started in the European agricultural production sector after the World War I to recover the lack of the agricultural goods. To increase the legislative protection of the domestic farmers the Smoot-Hawley Tariff Act of June 1930 raised U.S. import tariffs (U.S Department of State, http://future.state.gov/). The Smoot-Hawley Tariff declined the international trust and cooperation and caused some problems in international trade. As a result of market crush bank collapsed from October 1930 until March 1933 by this time over a third of Americans bank was out of business. It continued to decline by mid 1932, the stock had declined to 10% their value in the peak 1929 and the increase in this in uncertainty from unsettled business conditions created by economic contraction made adverse selection and moral hazard problem worse in credit market. (The great crash, 1929, John Kenneth Galbraith) There was reduction in the number of intermediation due to loss of one-third of banks. This only increases adverse selection and moral hazard problem. Funds to firm with productive investment opportunities were greatly decreased due to this problem. In some sectors like manufacturing sector the production fell dramatically which was the basis of the Firms wage rates cuts. The level of price fell by 25% in the period of 1930-1933. Debt deflation was triggered in which net worth fell C:Documents and SettingsJudyAsztalunemploymen t.gifbecause of the increase burden of indebtedness borne on the firm. One sector problems affected the others. Millions of people lost their jobs. In the period of 1900-1947 two types of unemployment were made. These researches were developed the data set for the civilian labor force and for the Non-farm employees. (Historical unemployment in relation to today, A. Andrews)The employment rate declined by approximately 20% and the economic contraction and unemployment rose to 25 percent because of the decline in net worth. The result was more increase in adverse selection and moral hazard in the credit market. This was the worst ever experienced in the United States of America. 2. The FED This system was introduced to the public as economic stabilizer in 1913 to prevent further economic crisis although Federal Reserve System was totally passive during the Great Depression. In general, the Federal Reserve controls the interest rates and the money supply (inflation).The FED is controlled by its Board members and the majority of the twelve member Constitute the Federal Open Market Committee with five Reserve Bank The Fed not only supply the money to economy, it loans the money to them at interest. Besides, it regulates the value of the currency being issued. It should have acted as the last resort to lend as that its role. For the period of 1921-1929 the FED increased the money supply by 62% .The main reasons they did nothing was they never anticipated the negative of bank failure could have on money supply and economic activity. They thought a bank failure is as a consequence of poor bank management or bad banking practice. Small banks failures were the first to be affe cted in the bank panics in the early stages. And since the big city bank was the most influential they saw the failure of the small banks as complacency. Some suggested that political role might have played an important role in the passivity of the Federal Reserve System at that period. The New York Federal Reserve System was the most dominant force in the 1928, and it supported the Fed in open market purchase to lend money to the banks during the bank panics. This was opposed by other powerful member in the Federal Reserve System and the New York position was out voted. There were multiple causes and many theories about the origin of the Great Depression. According the monetarist theory the Crisis is the consequence of the lack of the FEDs policy making. The level of government influence on a bank varies from one country to another let say for example, in China the government regulation is very high probably the highest in the world and in United Kingdom the government regulation i s very low .It can be said that in the United Kingdom it high if we compare with the United State. So depending of which countries are comparing to another, government influence is usually different. 3. The economic decline (1930-32) Thanks to the Tariff Act the world market suffered a huge damage but, the act was not enough to recover the U.S. economy. People starting lose their jobs, homes and their confidence to the system and they take out their money from the banks and in the end they couldnt repay their loans. The continuous decline shows the effect in political elections in November 1930 when the representatives of the Republican Party lost their places in the Senate and their number and voting power reduced dramatically. In 1931 some new predictions appeared in the news which says that the depression would be over in the end of that year. During this year the deepening economic depression hit Europe and credit structures collapsed there. The media blamed United States for create this depression by cutting back on imports. Various conspiracy theories were voiced about the Soviet Union and some Biblical prophecy appeared too. In1932 a new presidential campaign started where Hoover and Roosevelt describe two different political aspects about the Depression. Hoovers economic aspect based on voluntarism and individualism, but the natural economic forces and the voluntary action by business groups couldnt work in the last 3 years. So his voters lost the trust in Hoover and he was easily beaten in the election (Burner David, Herbert Hoover: Alfred A. Knopf, New York, 1979). 4. The New Deal Roosevelt the new president was introduced a new program called the New Deal that contained social and economic reforms in 1933. He settled up new governmental agencies with the Glass-Steagall Act. â€Å"It gave tighter regulation of national banks to the Federal Reserve System; prohibited bank sales of securities; and created the Federal Deposit Insurance Corporation (FDIC), which insures bank deposits with a pool of money appropriated from banks. (New York Times, http://topics.nytimes.com /topics/reference/ timestopics/subjects/g/glass_steagall_act_1933/index.html )â€Å" The senate tried to restore the peoples trust in the U.S financial system with the Glass-Steagell Act .It made a clear separation between the investment and the commercial banks .To handle the banks poor asset management Franklin Roosevelt declared a â€Å"bank holiday â€Å"as a result of bank panic in March 1933.The† bank holiday† regulated that the banks had to be until the governmental inspecto r investigation. The inspector after a monitoring process judged about the banks reopening. Another program was started namely in that time: the Agricultural Adjustment Act which helped to increase the income of the farmers. The overproduction created corps surplus and the government pay the farms, in the frame of this program, to leave the fields fallow and not to raise pigs and lambs. (Ronald Edsforth: The New Deal: Americas Response to the Great Depression, 2000) The Act aimed to raise the value of the corps, but few months later, natural disasters destroyed almost all the corps and the machinery. To help the farmers and teach them how to measure and reduce erosion the government established the Soil Conservation Service. This program stopped in 1936 when a new agricultural act had been accepted. The new regulation provides a possibility to the farmers to get federal subsidies. Besides of this, NIRA (National Industrial Recovery Act) had been accepted by the government to generate more jobs, strengthen the right of collective bargaining. The unemployment increased since the Great Depression had started. Based on this reason, they provided jobs in government projects such as work camps. Approximately two million people participated in this program until 1934. The unskilled workers got hard work like digging and railway repairs but they earned only a little money. National Labor Relations Act introduced new fair labor practices in 1935.The New Deal program had helped the US economy but didnt bring the end of the Great Depression. The roots of the economic problem came from the financial insecurity and the distribution of money, because the people on relief lived from one day to another (Bernardit Bellushit, The Failure of the NRA (1975)). The investors were afraid of buying sto cks and lose their money. The companies couldnt sell their new products because the people spent their money to food. The inventories were full and nobody wanted to produce more and that stopped the cycle of the economy. 5. The Second New Deal President Roosevelt decided to set a group of new economic and social measures and provided some legislative initiatives. The public and political forces lead the president to make some radical steps. . In 1936 Roosevelt won the election but the Americans wanted the government to take greater responsibility for the welfare of the nation. The Second New Deal as legislative program established some government controlled agencies and projects. He allocated billions of dollars to start and give a financial budget for the Work Progress Administration (WPA).Roosevelt nominated the social worker Harry Hopkins to be the head of the WPA. In its early years it focused on the construction programs such as build schools and government buildings. Attempt to the population of the United States it found that the one of every six people was unemployed and most of them was unskilled (http://www.u-shistory .com /pages /h1599.html). Unskilled laborers the forgotten man of past generation works at decen t wages. The nation was building and repairing schools, public buildings, community centers and airports to meet the changing needs of the modern world. In one project twelve hundred men were employed to improve bowling field and construct building hangers and administration buildings. In addition to the hundreds of the unskilled laborers, many skilled workers were employed in this improvement project. Hundreds of homes have been treated from bondage of property. In New York City WPA housing demolisher project was started which improved the families living conditions. In many other cities of the country old firetraps are being demolished to make way to modern buildings. Swimming pools and parks were constructed to make more public value to the community and remove the children from the streets. In many parts of the country nursery schools were established to where almost 10 thousand children got hot meals, supervised train activities. In these projects employment has been provided 6 00 hundred teachers nurses dieticians and cooks. More than 300 thousand adults learned to read and write first time in their life and started to learn foreign languages from native teachers. In cooperation with the national youth administration 26500 young man and women were employed as instructors laboratory assistants and clerical helpers.( Historical unemployment in relation to today, A. Andrews) Clerical white -collar workers find employment at filling and checking important land records. As part of the program of rehabilitation of the conservation of human resources a number of household training school were established by WPA. In these school girls from relief families are prepared for domestic works. Health education is an important part of the WPA program in a number health centers in large cities teaches the proper care of the children and adults. In some cities sawing rooms were established to support the poor families with clothes. Another type of permanent construction was the community stadium as a representative a large group of project provides the public gatherings all over America. Hundreds of new bridges were constructed thousands of old bridges have been repaired and made safe. In Many cities the construction was undertaken with the cooperation of the public health agencies. The rapid growth of air traffic gives the opportunity to built modern airports and gives a job to thousand s to improve and repair the existing facilities. The increased air transportation also made necessary the development of hundreds of emergency landing fields. In cooperation with the local police departments in several cities automobile inspection stations were established to reduce the unsafe vehicles on the roads. Women who had the principle to support their families are paid for the work. And the product they made was distributed free to the families on relief (John Salmond, The New Deal: The National Level (1975). pp. 188-89). Many other type of employment was provided for women and other part-time jobs were provided in kitchen and in libraries and schools. As a result of some projects thousand of books and maps were translated. This program also contained training for adults t o learn tailoring. The financial support of the administration was enough to invest into more projects like Federal Writers Projects , Federal Theater Project, Federal Art Project, National youth Administration ,to generate more jobs for white-collar workers.â€Å"Because Harry Hopkins believed that the work provided by the WPA should match the skills of the unemployed, artists were employed to paint murals in public buildings, sculptors created park and battlefield monuments, and actors and musicians were paid to perform. These white-collar programs did not escape criticism and the term â€Å"boondoggling† was added to the English language to describe government projects of dubious merit.( Jim Crouch, The Works Progress Administration Eh. Encyclopedia(2004)). The WAP was a long program and finally was abandoned in 1943.Social security act created a new health insurance system based on employer and employee contributions, supported by taxes 6. The SWOT Analysis of the WPA SWOT Strengths: Weaknesses: Education to unskilled workers Started project didnt wanted Various types of jobs WPA as Financial â€Å"black hole† Provide part-time jobs Political influences Jobs for Artist and Black people and Women No ability to control the workers productivity Improve the health care system Opportunities : Threats: Starting more useful projects Instable economical environment Decreasing political aspects of the projects Living expenses increases, because import stop Strengthen the economy throughout projects Potential health problems, disease could stop projects Developing international export-import partnerships Other political parties critics-political intervention Support the banking act, provide more financial security The SWOT analysis is for compute the Strength, Weaknesses, Opportunities and Threats of a sector or a company (Mehta, S. (2000) Marketing Strategy). It is used for strategic planning to create a way to the desired goal or objective. In this case it was decided to apply this technique to set a real picture about the Second New Deal through WPA. The main aim of the current analysis is not generate alternative strategies, but to summarize the situation of WPA and the critiques in 1930s.Starting with the strength of the WPA it can be seen that the group of different types of jobs were provided to a high-scale target area. People could achieve different skills by the WPAs trainings and educations, and they got motivation to learn and use their knowledge in long-term. There were several weaknesses of the program from the beginning. As a governmental project the WPA needed a huge financial background to work and in some cases they only waste the money. The critiques described that some part of the program was only started to get more votes. The real leaders of the WPA had no ability to control the workers productivity and their effectiveness. To mention some real threats the instable economic environment remained the same. The diseases could spread faster among the workers and it may stop many constructing projects and it may indicate more financial problems in the health care system. One of the most important opportunities was to prevent more political fight and decrease the obvious political aspects of the projects. It would have been useful if they could solve the import problems. The following table above contains the main strength, weaknesses, opportunities and threats. 6.1. The external factor analysis EFAS (External Factor Analysis Summary) External Factors: Weight Ratings Weighted Score Opportunities: O1 Starting more projects 0,1 3 0,3 O2 Decreasing political aspects of the projects 0,2 4 0,8 O3 Strengthen the economy through projects 0,05 3 0,15 O4 Developing international export-import partnerships 0,1 2 0,2 O5 Support the banking act, provide more financial security 0,05 3 0,15 Threats: T1 Instable economical environment 0,2 4 0,8 T2 Living expenses increases, because import stop 0,1 3 0,3 T3 Potential health problems, disease could stop projects 0,05 2 0,1 T4 Other political parties critics-political intervention 0,15 3 0,45 Total Scores: 1 1,0-5,0 3,25 The SWOT table can be used to introduce three other type of analysis the EFAS, the IFAS and the SFAS. The External factor analysis and the internal factor analysis are calculated in a same way. The external factors (opportunities, threats) are used to show the economic background of the company or the sector. The elements of the SWOT table are the main factors of these tables. Every row contains weights and the rates and the multiplied result; the weighted score. The sum of every weight has to equal by 1, and the factors ratings should be between 1 and 5.The total score will be the sum of the weighted scores and it shows a real picture about the companys position. The company is in danger if the result is less 3,5 than. 6.2 The internal factor analysis IFAS(Internal Factor Analysis Summary ) Internal Factors: Weight Ratings Weighted Score Strenghts: Education to unskilled workers 0,15 3 0,45 Various types of jobs 0,15 4 0,6 Provide part-time jobs 0,1 3 0,3 Jobs for Artist and Black people and Women 0,2 2 0,4 Improve the health care system 0,1 3 0,3 Weaknesses: Started project didnt wanted 0,05 3 0,15 WPA as Financial â€Å"black hole† 0,05 2 0,1 Political influences 0,1 4 0,4 No ability to control the workers productivity 0,1 3 0,3 Total Scores: 1 1,0-5,0 3 If the result is more than 3,5, the company is in safe. The internal factors (Strengths, Weaknesses) are closely related to the object of the analysis. The internal strengths and weaknesses summarize the main topics the company has to deal with. The total score is 3 and this means that the company is not in safe and for a long -term basis the management has to handle the weaknesses to strengthen the company position in the market. SFAS(Strategic Factor Analysis Summary ) Factors: Weight Ratings Weighted Score Duration (in terms) S Strenghts: Short Medium Long S1 Education to unskilled workers 0,2 3 0,6 X S4 Jobs for Artist and Black people and Women 0,2 4 0,8 X W Weaknesses: W3 Political influences 0,15 4 0,6 X W4 No ability to control the workers productivity 0,1 2 0,2 X O Opportunities: O1 Starting more projects 0,05 5 0,25 X O2 Decreasing political aspects of the projects 0,05 1 0,05 X T Threats: T1 Instable economical environment 0,2 4 0,8 X T4 Other political parties critics-political intervention 0,05 3 0,15 X Total Scores: 1 1,0-5,0 3,45 6.3. The Strategic Factor Analysis Summary The Strategic Factor Analysis Summary (Business Policy and Strategy lecture SFAS power point presentation 2008.12.03) has an additional column, the duration that is separated into three different parts; long-term, medium-term, and short-term .The most important factors are listed here with weights and ratings to represent the main internal and external aspects of the WPA and to make a summary about the problems and possibilities. As a conclusion, based on the analysis listed below, the SFAS ‘s weighted score is 3,45.It means that the WPA could work in a long-term if the leadership could handle the problems. The WPA project stopped in 1944; therefore the main reasons did not connected to the internal factors, but only the externals. Some critiques had right the all the projects of WPA had only a political step to achieve more cotes in the elections. 7. The worlds reaction to the Great Depression (Theories) The world reacted in a several way to the Great depression and created a lot of theories how to solve the situation. The most famous reaction was the communism, fascism and the Keynesian theory. The fascism took place in Germany, Italy and it represented a highly centralized economy. The public construction programs provided jobs for unskilled labourers to built roads, work camps and military facilities. It increased the demography of the population, but the system was highly dictatorial. According to the statistics the unemployment rate decreased dramatically from 6 million to 0.2 million people.The Communism, as a highly bureaucratic and centralized system, was one of response to the Great Depression. It focused to fully employ the people in a strictly regulated obligatory way. The Keynesian theory: It states that the fully employment is needed, but only the intervention of the government can create this possibility. It can be long -term purpose of the existence of the government. The Keynesian theory changed the way of the thinking about the unemployment. The idea of the welfare state was another solution of the crisis. The education, the minimal guarantee of a job to every citizen is the basis of a welfare system. It guarantees the minimum wages and the minimum social and healthcare system. II. The Current Financial Crisis 1. The beginning of the Current Crisis The current financial crisis started in 2007, but it was not until the last quarter of 2008 .Firstly, this part of the thesis going to show how it all started, the causes and those who were affected by the crisis and how they are trying to deal with the crisis. Most of the people are pointing directly to real estate as the major cause of the current financial crisis even financial institutions that not directly involve with real estate are affected. It can be seen how the subprime mortgages and unscrupulous lenders has caused the unsustainable real estate bubble which began to collapse in 2006.There was increase in homeownership in the United State to about 5 million in little more than six years thanks to the increase in subprime lending. Within these six years constructions of new house sing units grew more but this housing bubble could not grow forever. In this period the price of house went so high and rent price went so low. When the price of housing began to decrease in the lat e 2006 to early 2007, many subprime borrowers had very hard time to make their payment. The housing bubble or the excesses of the subprime mortgage market became even more evident when subprime mortgage lender filed for bankruptcy. All the sectors like households, businesses (including financial institutions), and government are the main participants in the financial market and hit by the crisis. The secondly related financial groups are the surplus units provide funds and while the other group that enter the financial market to obtain fund are the deficit units. If market securities yield low returns why invest in it? Three factors can be seen to why it important to make investment in market securities these are, as we have said before the advantage to convert to cash rapidly so it can be substitute as cash. The second reason is that when a firm has excess cash let say for a month it can invest the excess cash in form of securities as not to hold too much cash in hand. The third reason is that when a firm know it going to pay a loan soon it gathers the money monthly to pay and this money could be invest in market securities before the loan is to be paid. As it have seen when the financial crisis started the public could see that the financial system is in a deep trouble some even call it recession because the stock market came crashing and lost almost 42% of it original price. Before the peak of the financial crisis the total world stock market worth $62.5 trillion and now it $36.6 trillion so it lost $25.9 trillion. Let compare the stock market of leading countries of one day and another day and see how it doing. STOCK MARKETS May 5 prev %chg SP 500 903.8 907.24 -0.38 Nasdaq Comp 1754.12 1763.56 -0.54 Dow Jones Ind 8410.65 8426.74 -0.19 FTSEurofirst 300 846.81 842.7 +0.49 DJ Euro Stoxx 50 2407.55 2419.53 -0.50 FTSE 100 4336.94 4243.22 +2.21 FTSE All-Share UK 2226.6 2174.64 +2.39 CAC 40 3225.0 3237.97 -0.40 Xetra Dax 4853.03 4902.45 -1.01 Nikkei (c) 8977.37 Hang Seng 16430.08 16381.05 +0.30 FTSE All World $ 153.46 153.19 +0.18 ( source New York Times May 5 2008) There was turmoil in the all over the international financial system due to the losses in the subprime mortgage in the mid-2007.This was wide spread global crisis even thus firm not associated with the mortgage firm. This made the financial institutions very nervous and the stock market got very weak. Between July 2007 and March 2008, there was a significantly drop in the price of shares in the large, small and investment bank. A Theoretical Analysis of the Banking Crisis Theoretical Analysis of the Banking Crisis Crisis in the banking sector The current crisis and the Great Depression Theories and the crises: Several theories exist connected to the financial crises that have happened since the banking system was established. Some of them tried to explain the reasons and the origin of them however none of these theories could provide an acceptable solution how to prevent the crisis. To determine the continuity in the timeline and the spread of the crisis it was not enough to create just an economic comparison. The analysts set some mathematical and other type of model to investigate the behavior of the market. The two mostly accepted models of banking panics are the Diamond and Dybvig model and the Calomiris and Kahn model. These models were set in the 1990s as the reflection of the systematic banking crisis since 1970.Both of the two theories were accepted the fact that the banks liabilities are more liquid than its assets. In the Diamond and Dybvig model they set a hypothetical world without the banking system. The banks make contract to transform its illiquid assets.( Federal Reserve Bank of Minneapolis Quarterly Review Vol. 24, No. 1, winter 2000, pp. 14-23, Dybvig: Bank Runs, Deposit Insurance, and Liquidity).The problems with the contract is that it doesnt include any risk-sharing option. The deposit insurance is the only way to reduce the risk because its decrease the ability of the bank to transform its assets. The asymmetric information affects the liquidity demand. The final conclusion of this model is that the bank run is triggered only because patient agents believe.†This result is a self-fulfilling prophecy (panic): Because patient agents expect other patient agents to withdraw their funds early, they do the same. As a consequence too many funds are actually withdrawn, which otherwise would have not been the case. (Banking and Finance /Banking Crises.ppt/2008.12.03)† The Calomiris and Kahn model basis is the Diamond and Dybvig model, but it is more complex (Charles W. Calomiris, Charles M. Kahn, â€Å"The Role of Demandable Debt in Structuring Optimal Banking Arrangements† in American Economic Review, Vol. 81, 1991). They introduced one other potential option that the banks follow a risky behavior and put their investors money into risky projects. Because the asymmetric information the investors dont know about this step. Then, two possible things can happen; the project turns out well or not. If the project turns out negatively the bank starts to invest again. In the model the depositors can purchase information, but if is shows a negative indicator they withdraw their money. If there are a huge number of the depositors who want to withdraw the bank has serious liquidity problems and the bank panic starts. The only possible solution, according to this model, is to increase monitoring in the banking sector and strengthen the regulation to avoid moral hazard. I. The Great Depression 1. The beginning of the Great Depression (1928-30) The history of the Great Depression is important to analyze the main aspect of the crisis. From May of 1928 the stock market rise continuously and the average stock price increased because the FED raised its discount rate, and saw the stock market was booming and the stock price doubled, as excessive speculation. They tried to resolve this by increased monetary policy to raise interest rate and a new deflationary policy was introduced. As a consequence, a huge financial bubble evolved. In October 22, 1929 New York Times published an article; â€Å"Fisher Says Prices of Stocks Are Low†. (The 1929 Stock Market: Irving Fisher Was Right, Ellen R. Mc Grattan p.1) Then, two days later the stock market went crashing and the stock prices had fallen by 30 %: According to Irving Fisher the problem was that the people have been speculating on the small margins. It was not that the stock market was too high, but the people so enthusiastic to making money that they properly expected to mak e. It created debts because the people bought stocks on borrowed money. The politicians issued optimistic predictions to prevent the selling panic in the U.S. market (The causes of the 1929 stock market crash, Harold Bierman).The secretary of the Treasury, Andrew W. Melon stated: â€Å"There is no cause to worry. The high tide of prosperity will continue†. The stock market did come back in the middle of 1930, more than half of the stock that has been decline as been reversed. People thought it was over recession turned into something different. The agriculture sector stocks continued to decline. This regressive tendency was intensive not only because the Great Depression. Massive overproduction started in the European agricultural production sector after the World War I to recover the lack of the agricultural goods. To increase the legislative protection of the domestic farmers the Smoot-Hawley Tariff Act of June 1930 raised U.S. import tariffs (U.S Department of State, http://future.state.gov/). The Smoot-Hawley Tariff declined the international trust and cooperation and caused some problems in international trade. As a result of market crush bank collapsed from October 1930 until March 1933 by this time over a third of Americans bank was out of business. It continued to decline by mid 1932, the stock had declined to 10% their value in the peak 1929 and the increase in this in uncertainty from unsettled business conditions created by economic contraction made adverse selection and moral hazard problem worse in credit market. (The great crash, 1929, John Kenneth Galbraith) There was reduction in the number of intermediation due to loss of one-third of banks. This only increases adverse selection and moral hazard problem. Funds to firm with productive investment opportunities were greatly decreased due to this problem. In some sectors like manufacturing sector the production fell dramatically which was the basis of the Firms wage rates cuts. The level of price fell by 25% in the period of 1930-1933. Debt deflation was triggered in which net worth fell C:Documents and SettingsJudyAsztalunemploymen t.gifbecause of the increase burden of indebtedness borne on the firm. One sector problems affected the others. Millions of people lost their jobs. In the period of 1900-1947 two types of unemployment were made. These researches were developed the data set for the civilian labor force and for the Non-farm employees. (Historical unemployment in relation to today, A. Andrews)The employment rate declined by approximately 20% and the economic contraction and unemployment rose to 25 percent because of the decline in net worth. The result was more increase in adverse selection and moral hazard in the credit market. This was the worst ever experienced in the United States of America. 2. The FED This system was introduced to the public as economic stabilizer in 1913 to prevent further economic crisis although Federal Reserve System was totally passive during the Great Depression. In general, the Federal Reserve controls the interest rates and the money supply (inflation).The FED is controlled by its Board members and the majority of the twelve member Constitute the Federal Open Market Committee with five Reserve Bank The Fed not only supply the money to economy, it loans the money to them at interest. Besides, it regulates the value of the currency being issued. It should have acted as the last resort to lend as that its role. For the period of 1921-1929 the FED increased the money supply by 62% .The main reasons they did nothing was they never anticipated the negative of bank failure could have on money supply and economic activity. They thought a bank failure is as a consequence of poor bank management or bad banking practice. Small banks failures were the first to be affe cted in the bank panics in the early stages. And since the big city bank was the most influential they saw the failure of the small banks as complacency. Some suggested that political role might have played an important role in the passivity of the Federal Reserve System at that period. The New York Federal Reserve System was the most dominant force in the 1928, and it supported the Fed in open market purchase to lend money to the banks during the bank panics. This was opposed by other powerful member in the Federal Reserve System and the New York position was out voted. There were multiple causes and many theories about the origin of the Great Depression. According the monetarist theory the Crisis is the consequence of the lack of the FEDs policy making. The level of government influence on a bank varies from one country to another let say for example, in China the government regulation is very high probably the highest in the world and in United Kingdom the government regulation i s very low .It can be said that in the United Kingdom it high if we compare with the United State. So depending of which countries are comparing to another, government influence is usually different. 3. The economic decline (1930-32) Thanks to the Tariff Act the world market suffered a huge damage but, the act was not enough to recover the U.S. economy. People starting lose their jobs, homes and their confidence to the system and they take out their money from the banks and in the end they couldnt repay their loans. The continuous decline shows the effect in political elections in November 1930 when the representatives of the Republican Party lost their places in the Senate and their number and voting power reduced dramatically. In 1931 some new predictions appeared in the news which says that the depression would be over in the end of that year. During this year the deepening economic depression hit Europe and credit structures collapsed there. The media blamed United States for create this depression by cutting back on imports. Various conspiracy theories were voiced about the Soviet Union and some Biblical prophecy appeared too. In1932 a new presidential campaign started where Hoover and Roosevelt describe two different political aspects about the Depression. Hoovers economic aspect based on voluntarism and individualism, but the natural economic forces and the voluntary action by business groups couldnt work in the last 3 years. So his voters lost the trust in Hoover and he was easily beaten in the election (Burner David, Herbert Hoover: Alfred A. Knopf, New York, 1979). 4. The New Deal Roosevelt the new president was introduced a new program called the New Deal that contained social and economic reforms in 1933. He settled up new governmental agencies with the Glass-Steagall Act. â€Å"It gave tighter regulation of national banks to the Federal Reserve System; prohibited bank sales of securities; and created the Federal Deposit Insurance Corporation (FDIC), which insures bank deposits with a pool of money appropriated from banks. (New York Times, http://topics.nytimes.com /topics/reference/ timestopics/subjects/g/glass_steagall_act_1933/index.html )â€Å" The senate tried to restore the peoples trust in the U.S financial system with the Glass-Steagell Act .It made a clear separation between the investment and the commercial banks .To handle the banks poor asset management Franklin Roosevelt declared a â€Å"bank holiday â€Å"as a result of bank panic in March 1933.The† bank holiday† regulated that the banks had to be until the governmental inspecto r investigation. The inspector after a monitoring process judged about the banks reopening. Another program was started namely in that time: the Agricultural Adjustment Act which helped to increase the income of the farmers. The overproduction created corps surplus and the government pay the farms, in the frame of this program, to leave the fields fallow and not to raise pigs and lambs. (Ronald Edsforth: The New Deal: Americas Response to the Great Depression, 2000) The Act aimed to raise the value of the corps, but few months later, natural disasters destroyed almost all the corps and the machinery. To help the farmers and teach them how to measure and reduce erosion the government established the Soil Conservation Service. This program stopped in 1936 when a new agricultural act had been accepted. The new regulation provides a possibility to the farmers to get federal subsidies. Besides of this, NIRA (National Industrial Recovery Act) had been accepted by the government to generate more jobs, strengthen the right of collective bargaining. The unemployment increased since the Great Depression had started. Based on this reason, they provided jobs in government projects such as work camps. Approximately two million people participated in this program until 1934. The unskilled workers got hard work like digging and railway repairs but they earned only a little money. National Labor Relations Act introduced new fair labor practices in 1935.The New Deal program had helped the US economy but didnt bring the end of the Great Depression. The roots of the economic problem came from the financial insecurity and the distribution of money, because the people on relief lived from one day to another (Bernardit Bellushit, The Failure of the NRA (1975)). The investors were afraid of buying sto cks and lose their money. The companies couldnt sell their new products because the people spent their money to food. The inventories were full and nobody wanted to produce more and that stopped the cycle of the economy. 5. The Second New Deal President Roosevelt decided to set a group of new economic and social measures and provided some legislative initiatives. The public and political forces lead the president to make some radical steps. . In 1936 Roosevelt won the election but the Americans wanted the government to take greater responsibility for the welfare of the nation. The Second New Deal as legislative program established some government controlled agencies and projects. He allocated billions of dollars to start and give a financial budget for the Work Progress Administration (WPA).Roosevelt nominated the social worker Harry Hopkins to be the head of the WPA. In its early years it focused on the construction programs such as build schools and government buildings. Attempt to the population of the United States it found that the one of every six people was unemployed and most of them was unskilled (http://www.u-shistory .com /pages /h1599.html). Unskilled laborers the forgotten man of past generation works at decen t wages. The nation was building and repairing schools, public buildings, community centers and airports to meet the changing needs of the modern world. In one project twelve hundred men were employed to improve bowling field and construct building hangers and administration buildings. In addition to the hundreds of the unskilled laborers, many skilled workers were employed in this improvement project. Hundreds of homes have been treated from bondage of property. In New York City WPA housing demolisher project was started which improved the families living conditions. In many other cities of the country old firetraps are being demolished to make way to modern buildings. Swimming pools and parks were constructed to make more public value to the community and remove the children from the streets. In many parts of the country nursery schools were established to where almost 10 thousand children got hot meals, supervised train activities. In these projects employment has been provided 6 00 hundred teachers nurses dieticians and cooks. More than 300 thousand adults learned to read and write first time in their life and started to learn foreign languages from native teachers. In cooperation with the national youth administration 26500 young man and women were employed as instructors laboratory assistants and clerical helpers.( Historical unemployment in relation to today, A. Andrews) Clerical white -collar workers find employment at filling and checking important land records. As part of the program of rehabilitation of the conservation of human resources a number of household training school were established by WPA. In these school girls from relief families are prepared for domestic works. Health education is an important part of the WPA program in a number health centers in large cities teaches the proper care of the children and adults. In some cities sawing rooms were established to support the poor families with clothes. Another type of permanent construction was the community stadium as a representative a large group of project provides the public gatherings all over America. Hundreds of new bridges were constructed thousands of old bridges have been repaired and made safe. In Many cities the construction was undertaken with the cooperation of the public health agencies. The rapid growth of air traffic gives the opportunity to built modern airports and gives a job to thousand s to improve and repair the existing facilities. The increased air transportation also made necessary the development of hundreds of emergency landing fields. In cooperation with the local police departments in several cities automobile inspection stations were established to reduce the unsafe vehicles on the roads. Women who had the principle to support their families are paid for the work. And the product they made was distributed free to the families on relief (John Salmond, The New Deal: The National Level (1975). pp. 188-89). Many other type of employment was provided for women and other part-time jobs were provided in kitchen and in libraries and schools. As a result of some projects thousand of books and maps were translated. This program also contained training for adults t o learn tailoring. The financial support of the administration was enough to invest into more projects like Federal Writers Projects , Federal Theater Project, Federal Art Project, National youth Administration ,to generate more jobs for white-collar workers.â€Å"Because Harry Hopkins believed that the work provided by the WPA should match the skills of the unemployed, artists were employed to paint murals in public buildings, sculptors created park and battlefield monuments, and actors and musicians were paid to perform. These white-collar programs did not escape criticism and the term â€Å"boondoggling† was added to the English language to describe government projects of dubious merit.( Jim Crouch, The Works Progress Administration Eh. Encyclopedia(2004)). The WAP was a long program and finally was abandoned in 1943.Social security act created a new health insurance system based on employer and employee contributions, supported by taxes 6. The SWOT Analysis of the WPA SWOT Strengths: Weaknesses: Education to unskilled workers Started project didnt wanted Various types of jobs WPA as Financial â€Å"black hole† Provide part-time jobs Political influences Jobs for Artist and Black people and Women No ability to control the workers productivity Improve the health care system Opportunities : Threats: Starting more useful projects Instable economical environment Decreasing political aspects of the projects Living expenses increases, because import stop Strengthen the economy throughout projects Potential health problems, disease could stop projects Developing international export-import partnerships Other political parties critics-political intervention Support the banking act, provide more financial security The SWOT analysis is for compute the Strength, Weaknesses, Opportunities and Threats of a sector or a company (Mehta, S. (2000) Marketing Strategy). It is used for strategic planning to create a way to the desired goal or objective. In this case it was decided to apply this technique to set a real picture about the Second New Deal through WPA. The main aim of the current analysis is not generate alternative strategies, but to summarize the situation of WPA and the critiques in 1930s.Starting with the strength of the WPA it can be seen that the group of different types of jobs were provided to a high-scale target area. People could achieve different skills by the WPAs trainings and educations, and they got motivation to learn and use their knowledge in long-term. There were several weaknesses of the program from the beginning. As a governmental project the WPA needed a huge financial background to work and in some cases they only waste the money. The critiques described that some part of the program was only started to get more votes. The real leaders of the WPA had no ability to control the workers productivity and their effectiveness. To mention some real threats the instable economic environment remained the same. The diseases could spread faster among the workers and it may stop many constructing projects and it may indicate more financial problems in the health care system. One of the most important opportunities was to prevent more political fight and decrease the obvious political aspects of the projects. It would have been useful if they could solve the import problems. The following table above contains the main strength, weaknesses, opportunities and threats. 6.1. The external factor analysis EFAS (External Factor Analysis Summary) External Factors: Weight Ratings Weighted Score Opportunities: O1 Starting more projects 0,1 3 0,3 O2 Decreasing political aspects of the projects 0,2 4 0,8 O3 Strengthen the economy through projects 0,05 3 0,15 O4 Developing international export-import partnerships 0,1 2 0,2 O5 Support the banking act, provide more financial security 0,05 3 0,15 Threats: T1 Instable economical environment 0,2 4 0,8 T2 Living expenses increases, because import stop 0,1 3 0,3 T3 Potential health problems, disease could stop projects 0,05 2 0,1 T4 Other political parties critics-political intervention 0,15 3 0,45 Total Scores: 1 1,0-5,0 3,25 The SWOT table can be used to introduce three other type of analysis the EFAS, the IFAS and the SFAS. The External factor analysis and the internal factor analysis are calculated in a same way. The external factors (opportunities, threats) are used to show the economic background of the company or the sector. The elements of the SWOT table are the main factors of these tables. Every row contains weights and the rates and the multiplied result; the weighted score. The sum of every weight has to equal by 1, and the factors ratings should be between 1 and 5.The total score will be the sum of the weighted scores and it shows a real picture about the companys position. The company is in danger if the result is less 3,5 than. 6.2 The internal factor analysis IFAS(Internal Factor Analysis Summary ) Internal Factors: Weight Ratings Weighted Score Strenghts: Education to unskilled workers 0,15 3 0,45 Various types of jobs 0,15 4 0,6 Provide part-time jobs 0,1 3 0,3 Jobs for Artist and Black people and Women 0,2 2 0,4 Improve the health care system 0,1 3 0,3 Weaknesses: Started project didnt wanted 0,05 3 0,15 WPA as Financial â€Å"black hole† 0,05 2 0,1 Political influences 0,1 4 0,4 No ability to control the workers productivity 0,1 3 0,3 Total Scores: 1 1,0-5,0 3 If the result is more than 3,5, the company is in safe. The internal factors (Strengths, Weaknesses) are closely related to the object of the analysis. The internal strengths and weaknesses summarize the main topics the company has to deal with. The total score is 3 and this means that the company is not in safe and for a long -term basis the management has to handle the weaknesses to strengthen the company position in the market. SFAS(Strategic Factor Analysis Summary ) Factors: Weight Ratings Weighted Score Duration (in terms) S Strenghts: Short Medium Long S1 Education to unskilled workers 0,2 3 0,6 X S4 Jobs for Artist and Black people and Women 0,2 4 0,8 X W Weaknesses: W3 Political influences 0,15 4 0,6 X W4 No ability to control the workers productivity 0,1 2 0,2 X O Opportunities: O1 Starting more projects 0,05 5 0,25 X O2 Decreasing political aspects of the projects 0,05 1 0,05 X T Threats: T1 Instable economical environment 0,2 4 0,8 X T4 Other political parties critics-political intervention 0,05 3 0,15 X Total Scores: 1 1,0-5,0 3,45 6.3. The Strategic Factor Analysis Summary The Strategic Factor Analysis Summary (Business Policy and Strategy lecture SFAS power point presentation 2008.12.03) has an additional column, the duration that is separated into three different parts; long-term, medium-term, and short-term .The most important factors are listed here with weights and ratings to represent the main internal and external aspects of the WPA and to make a summary about the problems and possibilities. As a conclusion, based on the analysis listed below, the SFAS ‘s weighted score is 3,45.It means that the WPA could work in a long-term if the leadership could handle the problems. The WPA project stopped in 1944; therefore the main reasons did not connected to the internal factors, but only the externals. Some critiques had right the all the projects of WPA had only a political step to achieve more cotes in the elections. 7. The worlds reaction to the Great Depression (Theories) The world reacted in a several way to the Great depression and created a lot of theories how to solve the situation. The most famous reaction was the communism, fascism and the Keynesian theory. The fascism took place in Germany, Italy and it represented a highly centralized economy. The public construction programs provided jobs for unskilled labourers to built roads, work camps and military facilities. It increased the demography of the population, but the system was highly dictatorial. According to the statistics the unemployment rate decreased dramatically from 6 million to 0.2 million people.The Communism, as a highly bureaucratic and centralized system, was one of response to the Great Depression. It focused to fully employ the people in a strictly regulated obligatory way. The Keynesian theory: It states that the fully employment is needed, but only the intervention of the government can create this possibility. It can be long -term purpose of the existence of the government. The Keynesian theory changed the way of the thinking about the unemployment. The idea of the welfare state was another solution of the crisis. The education, the minimal guarantee of a job to every citizen is the basis of a welfare system. It guarantees the minimum wages and the minimum social and healthcare system. II. The Current Financial Crisis 1. The beginning of the Current Crisis The current financial crisis started in 2007, but it was not until the last quarter of 2008 .Firstly, this part of the thesis going to show how it all started, the causes and those who were affected by the crisis and how they are trying to deal with the crisis. Most of the people are pointing directly to real estate as the major cause of the current financial crisis even financial institutions that not directly involve with real estate are affected. It can be seen how the subprime mortgages and unscrupulous lenders has caused the unsustainable real estate bubble which began to collapse in 2006.There was increase in homeownership in the United State to about 5 million in little more than six years thanks to the increase in subprime lending. Within these six years constructions of new house sing units grew more but this housing bubble could not grow forever. In this period the price of house went so high and rent price went so low. When the price of housing began to decrease in the lat e 2006 to early 2007, many subprime borrowers had very hard time to make their payment. The housing bubble or the excesses of the subprime mortgage market became even more evident when subprime mortgage lender filed for bankruptcy. All the sectors like households, businesses (including financial institutions), and government are the main participants in the financial market and hit by the crisis. The secondly related financial groups are the surplus units provide funds and while the other group that enter the financial market to obtain fund are the deficit units. If market securities yield low returns why invest in it? Three factors can be seen to why it important to make investment in market securities these are, as we have said before the advantage to convert to cash rapidly so it can be substitute as cash. The second reason is that when a firm has excess cash let say for a month it can invest the excess cash in form of securities as not to hold too much cash in hand. The third reason is that when a firm know it going to pay a loan soon it gathers the money monthly to pay and this money could be invest in market securities before the loan is to be paid. As it have seen when the financial crisis started the public could see that the financial system is in a deep trouble some even call it recession because the stock market came crashing and lost almost 42% of it original price. Before the peak of the financial crisis the total world stock market worth $62.5 trillion and now it $36.6 trillion so it lost $25.9 trillion. Let compare the stock market of leading countries of one day and another day and see how it doing. STOCK MARKETS May 5 prev %chg SP 500 903.8 907.24 -0.38 Nasdaq Comp 1754.12 1763.56 -0.54 Dow Jones Ind 8410.65 8426.74 -0.19 FTSEurofirst 300 846.81 842.7 +0.49 DJ Euro Stoxx 50 2407.55 2419.53 -0.50 FTSE 100 4336.94 4243.22 +2.21 FTSE All-Share UK 2226.6 2174.64 +2.39 CAC 40 3225.0 3237.97 -0.40 Xetra Dax 4853.03 4902.45 -1.01 Nikkei (c) 8977.37 Hang Seng 16430.08 16381.05 +0.30 FTSE All World $ 153.46 153.19 +0.18 ( source New York Times May 5 2008) There was turmoil in the all over the international financial system due to the losses in the subprime mortgage in the mid-2007.This was wide spread global crisis even thus firm not associated with the mortgage firm. This made the financial institutions very nervous and the stock market got very weak. Between July 2007 and March 2008, there was a significantly drop in the price of shares in the large, small and investment bank. A