JPMorgan Chase Essay

Introduction J. P. Morgan rut & Co. is a prominent and successful pile 500 comp each. It is the largest bank in the United States by assets. CEO throng Dimon, has lead the J. P. Morgan come after & Co. through multiple risky events. J. P. Morgan practise & Co. has been veneering multiple fines and settlements due to its failure to abide by its own economy of suffer. The alliance has failed to follow procedures and regulations on numerous occasions. The troupe is becoming disreputable for making wrong decisions and simply not follo make headwayg the guidelines. This year J. P.Morgan tail & Co. agreed on a thirteen-billion dollar settlement regarding unethical merchandising of mortgage- fend fored securities. The selling of these mortgage- plunk for securities played a role in causing the m atomic number 53tary crisis of 2008. An article effectuate on BBCs website does a good credit line of explaining this in basic simple terms. Between 2004 and 2006 US sake invest rose from 1% to 5. 35%, triggering a slowdown in the US housing market. Homeowners, numerous of whom could single b arly afford their mortgage pass onments when interest rates were low, began to default on their mortgages.Default rates on sub-prime brings utmost risk gives to clients with slimy or no credit histories rose to set down levels. The impact of these defaults were felt across the financial system as numerous of the mortgages had been bundled up and sold on to banks and investors (http//news. bbc. co. uk/). This deal explains and elaborates on J. P. Morgan sideline & Co. s role in the financial crisis. It expounds on what the comp whatever violated and unethic all in ally did to have caused the latest settlement duologue.Using multiple online resources, we pull together teaching plentiful enough to analyze the companys practices and determine what locomote must be taken to avoid future discrepancies. Through friendly media we observed how consumers feelings towards the company be be impacted by the current tentative settlement regarding the mortgage-backed securities. The dividing line market was observed and studied through forbidden the course of J. P. Morgan Chase & Co. s negotiations. It is vital to understand how sh atomic number 18holders are macrocosm impacted as they are a key role in a companys success and resources. Using the teaching gathered this report suggestssteps to take in improving not unverbalisedly how J. P. Morgan Chase & Co. is thought of save how the company does business. JPMorgan Violated Both Banking and Securities Laws On January 24, 2012 President Barrack Obama gave his State of the Union speech in which he utter, Our building group is focusing on transfer related to the consortiuming and unveiling of mortgage backed securities, issues related to conduct that created the gate-crash, not abuses that happened after the crash (Obama). He aims to create a mortgage crisis building block that pa ss on suss out the study banks that took erupt in unethical practices that lead to the crisis.New York attorney General Eric Schneiderman get out co-chair the unit. The mortgage crisis unit holds officials from the Justice Department, Securities, Exchange fit and Internal Revenue Service. Obama express in his speech that the unit leave hold accountable those who broke the law, speed economic aid to householdowners, and swear out number the page on an era of recklessness that hurt so many Ameri tail assemblys. (http//www. bloomberg. com). JPMorgan Chase violated not only banking laws but also securities laws. J. P. Morgan Chase & Co. constituted recklessly unsafe practices, which endinged in misconduct and losses.An article on www. walls headtonparade. com stated, The Bank (Chase) failed to ensure that signifi arouset information related to the credit derivatives barter strategy and deficiencies identified in risk management systems and controls was domiciliated in a timely and appropriate vogue to OCC examiners. (Marten). The article also stated that The due south focused on JPMorgans ineffective internal controls and failure to nurture the Audit Committee of its Board informed in timely manner as required under its own rules and under the Sarbanes- Oxley Act. (Marten).In different words, JPMorgan broke the rule of the rule of conduct which stated that No one at J. P. Morgan Chase & Co. should ever sacrifice integrity or achieve the im conspireion that they have even if they mean it would help the theater. (www. jpmorganchase. com). The SEC found that J. P. Morgan Chase & Co. Chase violated securities laws by filing false information to the SEC. According to the SEC, the company failed to maintain internal control over financial reporting, disclosure controls and procedures, filing of inaccurate reports with the Commission. The SEC, in its settlement document stated that J. P. Morgan Chase & Co.violated Sections 13(a), 13(b) (2) (B) of the Exchange Act and Rules 13a-11, 13a-13, and 13a-15. The JPMorgan Chase code of conduct re benefactions fundamental assets that can be done on behalf of the company. In former(a) words, there are policies that are applied to the psyche Executive Officer, President, Chief Financial Officer, and Chief Accounting Officer of JPMorgan Chase & Co. The purpose of the code of conduct is to endure commitment to integrity. The Code of Conduct is definitive for JPMorgan Chase & Co. because it lays out the responsibility and expectations that the company has to represent to customers.The company is also trusty for ethical decision-making, which means that doing the right thing whereas talking up nigh any violation of the company. According to the Code of Conduct, No business unit or location in the Company can adopt policies that are less restrictive than the Code, but some do have rules that are more restrictive. (www. jpmorganchase. com). The Code means that the business should kn ow and follow all policies even if the rules are hardcore. The Code of Conduct has a decision tree on the companys website where you would ask yourself a question like, Is it level-headed? or Does it comply with our Code and our Company policies, and the principles of ethical behavior they speculate? These questions are important when it comes to making decisions. If neither of the questions comply with your decisions, then it could result in some serious consequences. Sharing concerns and reporting violations is very important when it comes to a companys record. According to the Code of Conduct, you should share your concerns without fear, report effective or regulatory preceding that involve you personally. Breaking any security law or banking laws and result in consequences.It is important to speak up about any violations that could result in unethical conduct related to financial services. Maintaining accurate records is also an important task when it comes to a company. Ac cording to the company website, Internal accounting controls and record keeping policies are essential to the successful operation of our Company and our ability to meet our legal and business requirements. Each of us is responsible for being accurate, complete and beneficial in Company records and for complying with all of the controls, policies and procedures we have in place. (www. jpmorganchase. com).False records are unethical and could tarnish the companys reputation. JPMorgan Chase & Co. s major direct holders are James Crown, James Dimon, Douglas Braunstein, Daniel Pinto, and Frank Bisignano. These shareholders own stock in the company. These main holders have the main shares in this company. According to JPMorgan Chase & Co. , outside activities is important because doing outside activities could cause conflict not only for the company but for shareholders as easy. By selling stock the company gets money almost no catch. There is no interest to pay and no requirement to pay the money back at all. even so meliorate, equity financing distributes the risk of doing business among a large pool of investors. If the company fails, the founders dont pull back all of their money, they lose several(prenominal) thousand smaller chunks of other peoples money. The money the company makes of its investors is used to pay for its fines and fees. This is why there is much anticipation with the negotiation of the settlement regarding the selling of mortgage-backed securities. This chart from yahoos finance reports shows that in October, during the negotiation of the settlement, stock dropped Settlement & Resolution J. P. Morgan & Chase Co.is under probe for these unethical practices and risk losing a large sum of money as settlement, as well as criminal charges being placed upon them for their dishonest actions. There are many legal steps that are being taken to resolve the issue at hand. Some of these steps include hiring an independent monitor or other third p arty cockeyed to oversee these measures along with ensuring that J. P. Morgan Chase & Co. follows the appropriate guidelines set forth legitimately and prevent them from practicing any further unethical actions. The person or firm engrossd must examine each and every home loan before J.P. Morgan Chase will be able to be jammed into any type of investments. In order for JP Morgan Chase to continue with home loans and recover from there scandalous acts, they must meet the obligation presented to them and hire an overseer, whether an individual or firm, and have the issues resolved by the end of 2017. travel that J. P. Morgan Chase & Co. can take to improve its disgraceful situation are to make some kind of assistance available to the individuals that were hit hard and greatly affected by these poor business practices inflicted by the company.This can be obtained by offering the individuals who invested in some type of loan through J. P. Morgan Chase & Co. an opportunity to refina nce their current loan, the donation of bank- possess properties, and new mortgage loans to low and moderate income families (OToole). This will hopefully help the individuals that now owe more on their houses then they are worth, and are thus upside down on their loans due to the unethical practices of JP Morgan Chase.If this proves beneficiary to the individuals who took out the loans, JP Morgan may just be able to recover their reputation, if not they will have to live with the disreputable name they have now created. JP Morgan Chase can also buy back all of the mortgages that they put these poor individuals into in the foremost place in hopes that the individuals may climb out of the dark hole of debt that they were lured into by the scandalous actions of the Chase employers.JP Morgan Chase must help the individuals out of their debt inflicted by the bank if there is to be any hope at recovering their reputation and solving the discriminating issues at hand. This can only be obtained by them offering their support and assistance to find as well as ensure them a better financial loan option. JP Morgan Chase must make right on their word for any betterment to be observed.They can and should take the blessed for their wrongful actions by stating that they know they were wrong and immoral in their actions and present the individuals with an apology as well as an ethical solution to arrive and make good the issues at hand. JP Morgan must make it right for the individuals who entrusted in them to give them ethical and proper loan assistance in the first place. They need to bail the individuals out of the debt they mischievously placed them in. JP Morgan Chase banks can better themselves in the long run by can acquire back all the mortgages that they sold to individuals in the first place.Mortgage loans that they wittingly sold without compliance to the mortgage standards set forth. They can also provide help to their employees who may be under investigatio n as well by taking full responsibility for the unethical situation and not placing the immoral conduct of the bank on the employees and forcing them to get into trouble. They need to back their employees because some who knew it was wrong didnt want any part of the unethical situation, but JP Morgan Chase required the employee to perform the immoral practices anyways with the threat that they would lose their jobs if they didnt abide.The company says it is fully reserved for this settlement, implying it has cash and other nest egg on hand to meet the requirements. JPMorgan will finish providing relief to borrowers by the end of 2017, the company says (Arnold). The following is a quote from Jamie Dimon We are delighted to have concluded this extensive agreement and to have resolved the complaisant claims of the Department of Justice and others. Nonetheless, New York attorney General Eric Schneiderman, California Attorney General Kamala Harris, Sacramento U. S.Attorney Benjamin Wagner and other officials involved in investigating JPMorgans mortgage actions called the settlement a significant government victory (McCoy). This settlement will resolve a large union of state and federal investigates into JPMorgan Chases selling of mortgage backed securities between 2005 and 2008. Concluding results An article on http//www. scpr. org explains how the settlement money will be distributed, Q How much money will end up in the hands of homeowners? A The state attorney superior generals note said $4 billion of the $13 billion settlement will go toward helping consumers nationwide.That could come in the form of mortgage wages reductions or loan modifications for homeowners, the office said in a press release. The office said they had no estimate on how much of the $4 billion borrowers relief would go to California homeowners, but they cogitate the state will receive a good amount of relief. JPMorgan declined to notice on the percentage that will be directed t o Californians. Separate from the borrowers relief, California did receive nearly $300 million in redress out of the $13 billion settlement that will go to domain employee and teacher pension funds, CalPERS and CalSTRS.Q What will determine which homeowners get money from the $4 billion portion of the settlement? A The state attorney generals office said Californians who may qualify for the relief would in all probability have gotten mortgages with Washington Mutual and Bear Stearns, which are now part of JPMorgan. Stuart Gabriel, director of the Ziman Center for Real Estate at UCLA, said he thinks state agencies may reach out to individuals who are in danger of foreclosure and offer some mortgage modification, such as interest rate relief.Q When will homeowners receive this money? A Its unclear how currently Californians could qualify to receive a portion of the borrowers relief. The state attorney generals office said the agency that will time lag those decisions hasnt been d etermined yet. Q Will the settlement have an effect on the housing market? A Gabriel said he doesnt think there will be any perceptible effect on the direction of the housing market as a result of the settlement. He said whats notable is that JPMorgan had to pay a large fine.The $13 billion JPMorgan settlement is roughly three times more than what BP compensable to settle criminal charges related to the Deepwater Horizon oil spill, according to Gabriel. Its a big deal for JPMorgan and its a big win for the U. S. government, Gabriel said. Its a win for the point of view that there were fraudulent practices in the packaging of mortgages into mortgage-backed securities on the part of major investment houses. Gabriel said he doesnt think this is the end of such settlements and the government is in all likelihood working its way around Wall track now with the precedent of a very big settlement in its back pocket. Q Is the foreclosure crisis over? A Reports show the number of foreclos ures has steadily declined. just now Peter Kuhns of the Alliance of Californians for Community Empowerment said its tranquilize a major problem. Its massive. Kuhns said. There are estimates that somewhere closedown to a third of all California homeowners with mortgages are underwater on their loans, that they owe more money than their house is worth. Kuhns said he hopes that the $4 billion borrowers relief will go toward helping homeowners repress the amount of money they owe on their mortgage payments. (lee) This shows progress but it will not be enough to keep the companys consumers happy. J. P. Morgan Chase & Co. must maintain an ethical and professional work pace. It will take time but doing things correctly, the companys reputation can be salvaged. Shareholders dont wait to be losing trust since the agreement on the settlement. Shares are at a healthy fifty-seven. The Board of Directors must put these changes into action as curtly as possible. They must start the proces s towards recovery at once.

Revisiting Day of the Week Effect in Indian Stock Market

In recent twelvemonths the examineing of commercialize place anomalies in seam strikes has snuff it an active field of research in empirical finance and has been receiving attention not only from academic journals but in like manner from the financial press as well. Among the more well-known anomalies ar the coat effect, the January effect and the day-of-the calendar workweek effect. According to this phenomenon, the average daily drive out of the commercialise is not the same for all geezerhood of the week, as we would expect on the basis of the efficient market theory. The objective of this paper is to examine the world of day of week effect in Indian subscriber line market.Daily mop up outlays of S&P CNX slap-up business leader eat up been analyzed over fifteen years stay commencing from January 1994 to declination 2008. A coif of parametric and non parametric tests has been use to test the equality of pie-eyed returns and step losss of the returns. The tight tax returns on Monday and Tuesday atomic number 18 nix fleck on Wednesday these ar extremely positive. Also, the impact of introduction of trilled colonisation on the birth returns is observed. The results visualise that before rolling resolution came in 2001, Tuesday was showing highly contradict returns and Wednesday highly positive. yet after the introduction of rolling law of closure, the seasonality in the diffusion of the rigorous returns crosswise divergent eld of the week ceased to appear. therefore the markets acquire become more efficient over a period of time. KEY rowing Market Efficiency, calendar Anomalies and Day-of-the-Week Effect INTRODUCTION A farm animal telephvirtuoso exchange is a common platform where buyers and sellers come together to transact in securities. It may be a physical entity where brokers trade on a physical work floor via an open outcry system or a virtual environment.The Stock Exchange, Mumbai (bovine spongifor m encephalitis) and the National Stock Exchange (NSE) are the Indias two leading stock exchanges. Indian security market is one of the oldest markets in Asia. It has come a long way from earlier years of floor trading to the present(a) day screen and net base trading. This study is an attempt to demand a deeper insight in to the behaviour and patterns of stock equipment casualty distribution in the Indian stock market. The bell of a security should vib mark around its intrinsic worth in any efficient market.In finance, the efficient-market venture (EMH) asserts that financial markets are informationally efficient, or that costs on traded assets, e. g. , stocks, bonds, or property, already reflect all known information. The efficient-market opening states that it is impossible to consistently outperform the market by using any information that the market already knows, except through luck. Therefore, the past expenditure movements can in no way help in speculating the pr ices in prox. The price of each day is independent. It may be unchanged, high or first-class honours degreeer from he previous price, but depends upon new pieces of information being received each day. So seasonalities cannot be used to formulate trading strategies to earn ab recipe returns according to efficient market hypothesis theory. Calendar anomalies are cyclical anomalies in returns, where the cycle is establish on the calendar. It describes the temperament of stocks to perform antithetically at distinguishable times. For example, a number of researchers check documented that historically, returns tend to be higher in January compared to former(a) months (especially February).There are three types of efficiencies as explained in efficient market hypothesis. So calendar anomalies mainly explain weak form of efficiency which says that previous price changes or changes in return are useless in predicting future price or return changes. Some of the calendar anomalies are Month-of-the year effect, Month-of-the quarter effect, Week-of-the month effect, Day-of-the-week effect or Weekend effect, Monday effect, Hour-of-the-day effect or the End of the-day effect, holiday effect and turn of the month effect etcetera Among them the day-of-the-week effect is well-nigh widely documented crosswise the countries and markets.In context to stock market the majority of research keyings, indicates that the stock returns remain low or banish on Monday. This paper examines the day-of-the-week effect in Indian stock market, using SP CNX corking data of last fifteen years from January 1994 to celestial latitude 2008. REVIEW OF LITERATURE There is an extensive publications on the day-of-the-week effect in the stock returns. This section examines a a couple of(prenominal) research works on the day of the week effect in Indian and international stock markets. Ziemba (1993) investigated the weekend hypothesis for the Japanese market using daily data from 1949 to 19 88.Tuesday recorded negative returns following a one day weekend and Mon long time declined after two age weekends. Balaban (1994) name day of the week effect in an emerging stock market ISECI of a developing country Turkey for the period 1988 to 1994. Highest returns on Friday and last-place returns on Tuesday were observed. Mishra (1999) studied day of the week effect in Indian stock market using Sensex and Natex for the period 1986 to 1998 indicating the movement of day of the week effect in Indian stock market. Friday returns were launch highest and significantly incompatible from the pixilated returns of other days. Hence thither exists a Friday effect.Berument and Halil Kiymaz (2001) tested the presence of the day of the week effect on stock market exci deferness by using the SP 500 market index during the period of January 1973 and October 1997. The findings showed that the day of the week effect is present in some(prenominal) unpredictability and return equations. W hile the highest and net returns were observed on Wednesday and Monday, the highest and the final volatility were observed on Friday and Wednesday, respectively. move on investigation of sub-periods reinforced findings that the volatility pattern across the days of the week was statistically different.Sarma (2004) examined seasonality across the days of week in Indian stock market using BSE indices- SENSEX, NATEX and BSE 200. Highest variance on Monday was found and weekend effect was substantiate by this study. Nath and Dalvi (2004) examined the day of the week anomaly in Indian stock market for the period from 1999 to 2003 using index SP CNX bang-up data. The study found that before introduction of rolling settlement in January 2002, Monday and Friday were significant days. However after the introduction of the rolling settlement, Friday became significant. Mondays were found to have higher standard deviations followed by Fridays.Davidsson (2006) found evidence of day of week effect in SP 500 index. Davidsson found Wednesday was the weekday with highest rate of return and Monday was weekday with low rate of return. Also Monday was the only day with negative rate of return. Wednesdays returns were found approximately four times of Mondays returns. Badhani (2008) examined the presence of day-of-the-week effect on stock returns, trading intensity level and price volatility at the NSE during the period of 10 years from 1995-2005. Wednesday effect was found during earlier periodical settlement regime which now disappeared.Monday and Tuesday returns were consistently low but during recent sub period these were not significantly different from other days of week. Also on Monday the average trading volume was significantly low and price volatility was high consistently across the entire sample period. Mangala (2008) examined day-of-the-week effect in sub periods in Indian stock market using SP CNX groovy data. Highest returns on Wednesday and lowest on Tues day were observed. Also findings showed that seasonality in return distribution across weekdays was confined to pre rolling settlement time period thereafter seasonality vanished.DATA AND methodological analysis This study covers a sample period of fifteen years from January 1, 1994 to December 31, 2008 comprising a total of 3695 observations(days). The stock prices are contained by SP CNX Nifty index. The closing evaluates of this index have been obtained from the formal website of National Stock Exchange (www. nseindia. com). There was trading on trusted weekly closing days (i. e. 18 Saturdays and 3 Sundays) these days have been excluded from the sample. During the above sample period of fifteen years many geomorphologic changes also took place in the market.For example rolling settlement was introduced in place of weekly settlement system. Therefore, the behaviour of stock prices has been studied on an yearly basis so as to gauge the impact of these changes on the stock price s. Measuring the Daily Returns Daily pct return on the index for a give day of the week has been calculated by subtracting the closing price of the previous trading day from closing price of that day, then dividing the resulting no. by closing price as on the previous trading day and multiplying by 100. Rt = Pt-Pt-1 * 100 Pt-1 Rt is daily return on the share price index for day tPt is the closing grade of index for the dayt and Pt-1 is the closing value of the index for the preliminary day. Hypothesis and Testing Procedure The null hypothesis is that there are no differences in the mean daily returns across the weekdays. The non parametric Kruskall- Wallis (H) test has been applied to test seasonality in returns across weekdays to test the hypothesis. Null hypothesis is Ho 1= 2= 3= 4= 5 Here, 1, 25 represent mean returns of different trading days of week. It pith that mean returns across all the five days of week are equal. Alternative hypothesis is H1 1? 2? 3? 4? 5It implies that there is significant difference in mean returns across the trading days in a week. Different statistical tools have been used to find the results like mean, standard deviation, range, skewness kurtosis etc. Then the most scientific and logical non-parametric Kruskall-Wallis (H) test has been applied to check the hypothesis. The Kruskall Wallis test requires the entire set of observations being ranked higher the value, higher is the rank and vice-versa- then consistent into nj ? 5 hyaloplasm where nj represents the rank of the return and tugboats represent the day of the week (Monday through Friday).The value of H is calculated by formula H = 12 ( pic (Rj)2 ) 3(N+1) pic pic N(N+1) nj Where Rj= sum of ranks in the jth column nj = number of cases in the jth column N = sum of observations in all the columns The calculated H value has been compared with the table value of the chi-square(? 2) distribution with (k-1) degree of freedom, where k stands for the number of trading days in a week.Hence H0 is rejected if Hgt ? 2 H0 is accepted if Hlt ? 2 The value of H in our study is taken as the critical value at 1% as well as 5% level of significance. Further Dunns ten-fold pair simile test based on rank matrix built in K-W test has been used to find seasonality by a pair wise multiple relation use. It identifies whether particular day of the week differs from other days of the week. The test procedure relies on Kruskall-Wallis rank sum Rj. The data in the rank-day matrix brisk for H test is used for this purpose. For a given level of ? fall ? ? ? if Ru-Rv ? Z ? /k(k-1) N(N+1)/121/2 1/n + 1/nv1/2 Where, = 1, 2k-1 v= +1,. k k = 5 N = total number of observations n = corresponding number of observations in the uth column nv = corresponding number of observations in the vth column Ru = Average K-W rank sums in the uth columns of the rank matrix Rv = Average K-W rank sums in vth columns of the rank matrix Z? /k(k-1) = the veloc ity percentage point of the unit normal distribution for a given significance level for 99 percent confidence level is 2. 575 Further the returns have been analyzed for two sub-periods i. e.Sub period-1 before rolling settlement (weekly settlement period) sub period-2 after the rolling settlement was introduced. In weekly settlement time period, Tuesday used to be as the settlement day on NSE. In 2001, rolling settlement was introduced which shifted settlement cycle from a located day of the week to fixed settlement lag. Tuesday settlement might be the possible reason for the observed seasonality in stock returns. DATA compend Here the day of the week pattern of the SP CNX Nifty data from January 1994 to December 2008 has been tested, results of which have been depicted in Table 1.It is observed from the table that the mean returns on Monday i. e. -0. 08563 percent are minimum followed by Tuesday. Mean returns on Wednesday, Thursday and Friday are positive out of which Wednesdays return with 0. 303 percent is utmost across all the days of the week. The mean return on Wednesday is about 8 times the overall mean return. The variation in mean returns measured in terms of standard deviation is found maximum on Monday (1. 870303 percent) followed by Friday (1. 740897 percent). It shows that trading on week bulge and week end is more volatile than other days of week.Skewness is positive only on Wednesday while other days of week have negatively skewed distributions. Kurtosis tells us the extent to which a distribution is peaked or flat topped when compared with a normal curve. The return distribution on Monday, Tuesday and Friday is leptokurtic while on Wednesday and Thursday are platykurtic. Through table it is also observed that range on Monday is highest which is also a measure of Dispersion. There is a significant difference in mean returns across different the different days of the week as evident by K-W (H) statistics (21. 78) which is highly significant at 1 percent level of significance. Therefore the null hypothesis of equality of mean returns across various days of the week stands rejected. Table 1. Summary Statistics of Daily Stock Returns of SP CNX Nifty(Jan 1994-Dec. 2008) Monday Tuesday Wednesday Thursday Friday All Days Mean -0. 08563 -0. 07615 0. 30300 0. 1895 0. 03221 0. 03838 meter Deviation 1. 87030 1. 50858 1. 62655 1. 55153 1. 74090 1. 66944 Skewness -0. 71612 -0. 15909 0. 40400 -0. 05609 -0. 35999 -0. 24662 Kurtosis 4. 29741 4. 47636 1. 79652 1. 53957 5. 66062 3. 98682 Range 7. 54838 8. 29523 7. 9590 6. 30507 7. 83089 20. 53297 No. of Observations 741 742 740 744 728 3695 K W(H) Statistics 21. 278* * authoritative at 1 percent level for 5-1 degrees of freedom Table 2 represents authentic and expected multiple comparison values as per Dunns multiple pair comparison test to study pair wise comparison among different days of the week. This test is based on rank matrix built in Kruskall Wallis Test.The calc ulation of actual and expected values is shown in table 3 while the deviation of actual from expected ranks is shown in table 3. So it is observed from the table 3 that there is variation in Monday Wednesday, Tuesday Wednesday, Wednesday Thursday and Wednesday Friday pairs as these are showing positive deviation of absolute rank sum values from the corresponding Z value or expected value. It means these pairs are showing more discrimination in returns than expected and Tuesday Wednesday is showing highest positive deviation. Also it is observed from the table that Wednesday appears in all above pairs.It means Wednesday returns are significantly different from the other days of week. Wednesday is showing highly different mean returns from ministration of the days. So a trading outline of buying on Tuesday and merchandising on Wednesday may help an investor to earn abnormal returns. Table 2. actual and Expected Multiple Comparison Values essential Expected RU ?Rv Z N( N+1)/121/2 (1/nu+1/nv)1/2 ZN(N+1)/121/2 (1/nu+1/nv)1/2 Monday-Tuesday 40. 64 2. 575 1066. 799 0. 0519 142. 6521 Monday-Wednesday 197. 07 2. 575 1066. 799 0. 0520 142. 7620 Monday-Thursday 30. 38 2. 575 1066. 799 0. 0519 142. 5697 Monday-Friday 50. 24 2. 75 1066. 799 0. 0522 143. 3388 Tuesday-Wednesday 237. 71 2. 575 1066. 799 0. 0520 142. 7070 Tuesday-Thursday 71. 02 2. 575 1066. 799 0. 0519 142. 5147 Tuesday-Friday 90. 88 2. 575 1066. 799 0. 0522 143. 3114 Wednesday-Thursday 166. 69 2. 575 1066. 99 0. 0519 142. 6246 Wednesday-Friday 146. 83 2. 575 1066. 799 0. 0522 143. 3938 Thursday-Friday 19. 86 2. 575 1066. 799 0. 0521 143. 2015 Table 3. Deviation of Actual from Expected Rank Differences Monday-Tuesday -102. 12 Monday-Wednesday 54. 308 Monday-Thursday -112. 190 Monday-Friday -93. 099 Tuesday-Wednesday 95. 03 Tuesday-Thursday -71. 495 Tuesday-Friday -52. 431 Wednesday-Thursday 24. 065 Wednesday-Friday 3. 436 Thursday-Friday -123. 41 Table 4 represents the yearly distribution of mean returns on SP CNX Nifty for different days of the week from 1994 to 2008. Also to test whether these differences in the mean returns on different days are statistically significant or not, the non parametric H statistics has been used. The table value of the chi-square (? 2) distribution at 1 percent level of significance is 13. 277 and at 5 percent level of significance is 9. 488. If we look at year wise KW statistics, up to year 1999 H statistics is highly significant and after 1999 it is insignificant. Table 4.Yearly dispersal of Mean Returns on SP CNX Nifty by Day-of-the-Week (January 1994 December 2008) Year/Day Monday Tuesday Wednesday Thursday Friday KW Statistics 1994 0. 47012 -0. 16573 -0. 36687 0. 01075 0. 32745 9. 945** 1995 -0. 51580 -0. 33583 0. 25709 -0. 6627 0. 11756 11. 145** 1996 -0. 35599 -0. 35342 0. 53600 0. 18662 0. 07796 10. 114** 1997 -0. 46253 -0. 14396 1. 04706 -0. 16222 -0. 06761 19. 917* 1998 -0. 1 2914 -0. 52606 0. 78280 -0. 15417 -0. 22507 13. 245** 1999 -0. 00553 0. 07532 0. 98097 0. 10327 -0. 00305 14. 48* 2000 -0. 16997 -0. 28629 0. 49777 -0. 10239 -0. 16992 4. 989 2001 -0. 21325 0. 11775 0. 30553 0. 08010 -0. 60214 4. 987 2002 0. 00508 -0. 15830 -0. 05939 0. 07054 0. 22584 4. 226 2003 0. 15214 0. 13598 0. 26208 0. 13987 0. 38014 2. 323 2004 -0. 4126 0. 26824 0. 04482 0. 02138 0. 07889 1. 236 2005 0. 29696 0. 04875 0. 02291 0. 08195 0. 18711 1. 806 2006 -0. 09098 0. 01140 0. 22203 0. 22753 0. 33653 1. 198 2007 0. 24310 0. 32425 0. 02874 0. 30801 0. 02442 2. 139 2008 -0. 36369 -0. 13064 -0. 04547 -0. 5441 -0. 24632 1. 46 All Years -0. 08563 -0. 07615 0. 30300 0. 01895 0. 03221 21. 278* * hearty at 1% level **Significant at 5% level Further entire study period has been divided into two sub periods Period 1 (January 1994 to Decemeber 2001) and period 2 (January 2002 to December 2008). Period 1 represents the time when weekly settlement was operativ e and during this time frame NSE had fixed settlement day Tuesday. Period 2 represents the time period when rolling settlement was introduced in place of weekly settlement cycle. Table 5.Mean Daily returns on SP CNX Nifty by Day of the Week for Sub-Periods Monday Tuesday Wednesday Thursday Friday KW Statistics Subperiod-1 -0. 17276 -0. 20228 0. 50504 -0. 01304 -0. 06810 42. 752* Subperiod-2 0. 00197 0. 05294 0. 09734 0. 03923 0. 12735 2. 84 *Significant at 1% level It is analyzed from the above table that in sub period 1 (1994 to 2001) all days except Wednesday gives negative rate of return. This is clearly the impact of Tuesday settlement that returns on Tuesday are lowest and on Wednesday it is highest positive. It means beginning of settlement cycle ives maximum returns while last day of settlement cycle called settlement day gives lowest returns. Also a very high value of KW statistics i. e. 42. 752 represents a high degree of seasonality in sub period 1 (before rolling settlement time period). To bring more frequency in the minutes and to bring Indian markets at par with the international markets rolling settlement on T+5 basis was introduced in December 2001. So in sub period 2 when rolling settlement was introduced, returns on all the days have become positive and Friday is giving maximum returns and Monday is giving lowest returns.This hints towards the presence of some sort of weekend seasonality. But the value of H statistics is very low i. e. 2. 684. From this it can be inferred that the return distributions are not significantly different across the week days and the null hypothesis stands rejected in the sub period 2. Thus it may be concluded that with the introduction of rolling settlement on NSE the stock markets have become more efficient. CONCLUSION During the period 1994 to 2008, SP CNX Nifty index recorded highest positive returns on Wednesday and most negative returns on Monday with highest volatility on Monday a nd Friday.It means week start and week end tend to be more volatile in Indian stock market. Also it has been analyzed that Wednesday is giving significantly higher returns than other days of the week which points towards the existence of Wednesday effect in Indian stock market. There was presence of day of the week effect in pre-rolling settlement period which gradually phased away with the introduction of the rolling settlement. Markets have become efficient after rolling settlement has been introduced.So in present scenario we cant rely on a trading strategy formulated on the basis of historical return movements on different days to earn abnormal returns as seasonality has disappeared in the recent years of the study period.

Linking Aristotle’s virtue with character Essay

Aristotles fairness ethics is often considered to be instituteed on constituent such that an various(prenominal)s disposition defines his or her equitys. It is important to denounce that Aristotle gives emphasis to the intellection that merit is acquired through habit. In this regard, it can be presumed that there is a connection betwixt character and virtue in the context of Aristotles philosophy. This is especially interesting to look into incisively because charitable beings think and act at least in terms of hotshots consciousness or idea of ethics, specifically through mavins moral precepts.If it is indeed true that individuals think and act in ways related to ones moral inclinations in their free-and-easy lives, then it is a strong reason to contend that virtue and character are all the much important elements in the life of humanity. The depict that I would like to raiseand agree with Aristotleis the idea that our habits, the way in which we do things on a reg ular basis, form a bragging(a) sumif not allof our character. And since character builds our very virtues, it can be presumed that the things that we do on a regular basis define our virtues.That is, if we prevent to harbor the bad or evil elements in the society, then it is or so likely the case that our character develops into something bad or evil. In the end, there will be little or no means for us to acquire virtues. The task of this assignment is to identify what is the connection in the midst of character and virtue in the context of Aristotle by providing Aristotles explanation of how we acquire virtues and why choice is an important component of these virtues.In the throw III of Aristotles Nichomachean Ethics, I found out that one base notion in Aristotelian ethics that occupies a key signification is Aristotles belief in the role of mans activities in order for one to acquire ethical acquaintance. That is, for one to become virtuous or to obtain virtues one sho uld not immaculately confine himself to mere studying of these virtues but rather one should, more importantly, actualize this association of the virtues. Thus, for one to become good, one should do good. I also found out in the same work of Aristotle the doctrine of the mean.The substance of this doctrine dwells on the basic precept that one ought to avoid the extremes and, instead, drop for the mean. The actions of men, more specifically, ought to be framed upon the mean which is the virtue. For example, the virtue of bravery rests on the mean between two extremes cowardice or the escape of courage, and rashness or the excess in courage. All of these things answer the central question being asked, specifically the identification of the connection between virtue and character.For the most part, the thought of the acquisition of virtue requires a form of a good act which, when constantly repeated or enacted on a regular basis, forms the character of the individual. The individ ual should not only be given over towards a theoretical understanding of these good acts but should also be inclined to en acting them, of living them on purpose and free will. It is not comme il faut that the individual should simply live the theoretical perspectives of doing good acts for it does not come to forming the character of the individual.Moreover, these good acts are founded on the principle of the mean wherein the individual is supposed to be acting not within the extremes but between these extremes because they are the evils. Hence, character is connected to virtue through ones goodor middleactions performed habitually. I figured out that Aristotle implies the idea that man is indeed a social being in the awareness that one cannot sufficiently do good without the presence of former(a) pot.That is, without otherwise battalion to whom our good deeds will be enacted to, our actions whitethorn scarce be conceived as good in the first place precisely because we ma y only be helpful if there are people to help, we may only be kind if there are people to whom we will be kind, or we may only be gentle if there are other people to love just to hear a few. Of course, my thoughts may be unacceptable to other people for they may also afford their own thoughts about the ethics of Aristotle.But more to this, I figured out that those people who surround us have a large role in the formation of our character. Social isolation does not give room for the moral development of an individual. On the other hand, I have arrived at a question concerning Aristotles virtue ethics, especially with his doctrine of the mean. Exactly how are we to know when we are acting in the middle such that we avert from the extremes or the vices? Granted that we may be able to identify the vices that we should avoid, when can we say that we are genuinely in the middle path?How can too much knowledge be a vice or an evil when Aristotle gives a satisfying account and importa nce to knowledge? While there may liquid a handful of questions that may have been left untouched, it can hardly be doubted that our actions share a significant role in specify our characters as human beings. Whether or not an individual believes in virtue ethics or in morality in general, it remains a fact that our actions have consequences to us and to other people.ReferenceAristotle. Nicomachean Ethics. Trans. Martin Ostwald. New tee shirt Prentice Hall, 1962.

Earth Structures

Lesson Goal Recognize how bedrock responds to tectonic forces originating deep within Earth. 1. Comp atomic number 18 and contrast stress and strain. In material science, strain is verbalise by deformation caused through the action of stress on a physical body. It is calculated by a change in both body states beginning and final states. The difference in two states expresses the (numerical) repute of strain. Strain is equal to a change in size and decide of a physical body. Strain can be categorized in to two types homogenous and non-homogenous.Homogenous strain is referred if the strain is equal the entire tidy sum of the body while non-homogenous strain the strain is equal to a service of process of a body. Stress is equivalent to force per unit area. It is calculated by the intensity of internal forces performing within a body across imaginary internal surfaces. This results to externally applied and body forces. Stress is cogitate to force while strain is related to defo rmation. In stress-associated properties, all materials ask temperature dependent differences.Static fluids support the hydrostatic pressure it will flow nether shear stress. Moving viscous fluids supports the dynamic pressure (Samaniego Stress, strain and displacement patterns). 2. Distinguish between knocks and breaks. What makes a fault active? In geology, joint is a fracture in a rock mass, which has no offset. It refers to non-lateral question of one side relative to the other while a fault refers to a fracture in rock mass where one side slides laterally past to the other. The structure of a joint forms a substantial and hard rock that stretches past its elastic modules.In any case, the rock fractures in a plane perpendicular to the extensional stress is paralled with compressive stress. Joints naturally comprise when erosion removes overlying rocks. This reduces the compressive load and allowing the rock to expand laterally. In addition, cooling system of hot rock ma sses and cooling joints forms joint (Joint 2007). There are three major classifications of faults. These include normal, transposition and strike slip faults. The (tectonic) stresses delinquent to plate motions were developed over time and breaks in the crust of the Earth. The rocks at uneven terminations break up.This results to earthquakes. Normal faulting originated at the divergent boundaries while reverse faulting originated at convergent boundaries. Normal faulting is associated with crustal extension while reverse faulting is associated with crustal shortening. Lastly, strike-slip faulting originated at transformed boundaries (Reches Faulting of rocks in three-dimensional strain fields II. Theoretical outline). 3. Explain what each type of unconformity implies about the sequence of geologic events. intravenous feeding types of unconformity include disconformity, nonconformity, angular unconformity and paraconformity.Disconformity refers to an unconformity between line o f latitude layers of sedimentary rocks representing a period of erosion. Nonconformity exists between sedimentary rocks and igneous rocks. The sedimentary rock lies preceding(prenominal) and deposited on the pre-existing and eroded igneous rock. Unconformity refers to a break in the continuity of sedimentary rocks caused by erosion. Paraconformity appears when the beds above and below are parallel no erosion-al surface is present. In any case, the unconformity results to a separation and/or deposition of two rock masses causing the sequence of geologic events (Unconformity 2007).Works Cited Joint. 2007. The Columbia Electronic Encyclopedia, 6th ed. , Columbia University Press. 9 declination 2007 http//www. infoplease. com/ce6/sci/A0826522. html. Reches, Z. Faulting of rocks in three-dimensional strain fields II. Theoretical analysis. 31 March 2003. Technophysics. 9 December 2007 http//www. sciencedirect. com/science? _ob=ArticleURL&_udi=B6V72-48894N0-2S&_user=10&_origUdi=B6V9D -3X2HYRH-S&_fmt=high&_coverDate=05%2F20%2F1983&_rdoc=1&_orig=article&_acct=C000050221&_version=1&_urlVersion=0&_userid=10&md5=ca2e0b329475a6f5a70a37b5eda89e86.Samaniego, A. Stress, strain and fault patterns. 30 July 1999. Journal of structural Geology. 9 December 2007 http//www. sciencedirect. com/science? _ob=ArticleURL&_udi=B6V9D-3X2HYRH-S&_user=10&_rdoc=1&_fmt=&_orig=search&_sort=d&view=c&_acct=C000050221&_version=1&_urlVersion=0&_userid=10&md5=715c8aab57dd7baa2d89a90c55869bbd. Unconformity. Sci-Tech Encyclopedia. 9 December 2007 http//www. answers. com/topic/unconformity? cat=technology.

An Artwork of Modern Realism Essay

Edward Hoppers painting called portrayal of Orleans pictures the town of Orleans back in 1950. The painting shows the spotlight of inter theatrical role of a town road at daytime, with the viewer stand up a secondary to the right in the middle part of the road. there be buildings on the further right posture of the viewer, and a section of foreboding trees on the left side, which spread overs to the further end and curves backward to the right, straightforward to the area of buildings. Main BodyThe seven take a leakal elements of art invent are the following (1) line, (2) shape, (3) determine, (4) space, (5) texture, (6) light, and (7) color (School of Art, Design and Art History n. d. ). breathing out over Hoppers characterization of Orleans, we analyze it based on these seven elements Line. Hoppers painting is filled with either unsloped lines or two congruent lines that converge at the middle to form a sort of triangle, which have the eye upward to space (a clean sky). Curves were determinationd to lead the eyes to the motion aimed by the painter.The curve of the looming trees, for example, extends vertically to the end and then curves backward to arrive at the right side of the road where the buildings are. From there, the horizontal lines of the road lead the eye to the right to extend beyond the picture. Shape. Shapes that were practiced were usually squares, circles, rectangles, and triangles. The shapes were usually connected through the use of perpendicular angles and right angles that lead one shape to the next. In the trees, for example, angles lead the eye from the rectangular trunk to the circular leaves above the trunk.Form. There are forms in the 2-dimensional items in the painting, as it creates depth, width, and height. The circular forms in the trees accentuate the form by using the right shade that darkens as the color progresses to the bottom. This creates depth, width, and height, which is emphasize also by the shadows t hat the looming trees are projecting. Space. The use of space is more obvious on the nearer portion of the intersecting road as intimately as the cloudless sky. Space bounces huge impression on a painting, such as this one by Hopper.Because of the huge amount of space, it projects a ascertaining of isolation on the side of the viewer quietness, stillness, and a little of the feeling of alienation. Texture. Texture contrasts from the rougher ones on the trees, roofs, and tires to the smoother ones on the buildings, road post, and trade light. Texture, together with shades and use of color, gives an added depth that makes the picture more realistic. This arse be seen in Hoppers painting, wherein texture makes the viewer feel the reality attached to the scene. Light.Light here was used basically to give emphasis to other elements like texture, shape, and form. It was also used to exaggerate the mood, as it gives a more isolated projection by emphasizing blank space, which cannot be made possible with the use of a dimmer light. The final result of the scene cannot also be made possible proper use of light. Color. The type of colors that was used here can be describe as light, luminous, and realistic. The harmony does not develop a mood that is heavy, although it does not develop one that is happy and gay either.The use of colors (e. g. , tangerine), as well as the other elements, forms a sort of mysterious aura, creating a sort of tension on the side of the viewer. Conclusion Arthur McDowall wrote in 1918 At the bottom of realism, in all its variations, seems to be the wiz of actual world an acute awareness of it, and a vision of things under that form (3). The Portrait of Orleans is nothing different from this it is art applied for a sense of existence, with a vision of how reality appears in mystery, tension, and motion.Appendix Edward Hoppers Portrait of Orleans (1950), available at Works Cited McDowall, Arthur. Realism A Study in Art and Thought. Lo ndon Constable, 1918. Portrait of Orleans. 2008. Allposters. com.21 whitethorn 2008 . School of Art, Design and Art History. ART BASICS The 7 ballock Elements of Art Design. N. d. San Diego State University. 21 May 2008 .

Health and Safety Responsibilities Essay

issuing 1 Understand stimulate responsibilities and the responsibilities of opposites relating to wellness and preventive in the take on prospect1 Identify ordinance relating to general health and base hit in a health or neighborly care environment Legislation relating to general health and prophylactic relevant, up-to-date formula from the health and Safety Commission and Executive (HSC/E), including local, case and European requirements for health and galosh in a health and neighborly care go a room put eg Health and Safety at take a crap act 1974, Management of Health and Safety at WorkRegulations 1999, manual(a)(a) Handling Operations Regulations 1992, Health and Safety (First Aid) Regulations 1981, Reporting of Injuries, Diseases and Dangerous Occurrences Regulations 1995 (RIDDOR), maneuver of Substances Hazardous to Health Regulations 2002 (COSHH)2 Describe the main points of the health and refuge policies and purposes concord with the employer Health and safety policies and procedures concur slipway of functional and approve codes of hold in health and social care settings relating to health and safety dealing with adventures, injuries and emergency situations eg operating, reporting and recording procedures graduation- wait on situations eg hygiene procedures, administering fundamental first aid if trained to do so, reporting and recording procedures adding conditions and the take oning environment eg moving and treatment procedures drop of equipment eg regulations for victimisation mechanical or electrical equipment) health care procedures eg procedures for administering personal care food handling and preparedness eg food hygiene regulations infection control and dealing with uncivilised substances eg procedures for disposing of clinical waste certificate and personal safety eg procedures for personal guarantor and safeguarding personal property3 dodge the main health and safety responsibilities of-Self O wn responsibilities the somebody duty to take care of throw health and safety understanding and applying relevant legislation and agreed shipwayof snuff iting responsibility to undertake relevant bringing up and updating as required the wideness of cooperating with an new(prenominal)(prenominal)s on health and safety impressiveness of the sort reveal use of everything provided for someone health, safety or welfare eg entertainive clothing, work equipment understanding that certain toils should not be carried out without peculiar(prenominal) knowledge eg use of equipment, first aid, administering medication, health care procedures, food handling and preparation Employer / Manager Responsibilities of employers and others the duty of employers to provide information eg about attempts to health and safety from working practices, changes that may harm or affect health and safety, how to do the job safely, what is done to protect health and safety, how to get first-aid tr eatment, what to do in an emergency the duty of employers to provide training to do the job safely, shield such as special clothing, gloves or masks, health checks such as vision testing the duty of employers to provide HSC/E information Health and safety police What you should know, with contact details of people who wad help or provide further information responsibilities of others eg team members, other colleagues, those who use or commission their own health or social-care services, families, carers or advocates.4. Identify tasks relating to health and safety that should not be carried out without special training Others in work setting Tasks that should not be carried out without special training use of equipment, first aid, medication, health-care procedures, food handling and preparation. apologise how to access additional support and information relating to health and safety termination 2 Understand the use of risk of exposure valuatement in relative to health and sa fety1 develop why it is important to assess health and safety impales posed by work setting or particular activities Assess health and safety hazards understanding health, safety and risk sound judgement for the work environment or particular activities the sizeableness of risk assessment for protect self and separates from danger or harm the need to comply with the law identifying what could suffer harm taking precautions to prevent harm the impressiveness of minimising accidents, injuries and baleful health reducing the risk of individuals being injured at work reducing the risk of liability reducing costs to the organisation2 Explain how and when to report potential health and safety risks that have been determine Report potential health and safety risks richness of continuous assessment of risks and regular checking reporting identified risks immediately immensity of reporting any changes examine examples of risk-assessment reports, accident report forms and other relev ant documentation immensity of written records being clear and accurate, detailing dates, times, simple description of hazard identified and action taken agreed reporting procedures and lines of communication3 Explain how risk assessment can help cross dilemmas betwixt rights and health and safety concerns Individual rights and health and safety concerns victimisation risk-assessment procedures, regulations and relevant health and safety legislation to justify compliance for specific procedures or actions eg habiliment seat belts in a car to minimize speck, wearing a motorcycle helmet for protection, hand washing and wearing Latex gloves to minimise the spread of infection understanding that the use of risk-assessment can help to address dilemmas among the human rights of an individual and health and safety concerns values and principles from investiture for Health (2002) resultant 3 Understand procedures for responding to accidents and fulminant illness1 Describe differ ent types of accidents and sudden illness that may occur in own work setting Types of accidents and sudden illness accidents eg slips and trips, falls, needle force injuries, burns and scalds, injuries from operating machinery or specialised equipment, electrocution, accidental poisoning sudden illness eg heart attack, diabetic coma, epileptic convulsion2 Outline the procedures to be followed if an accident or sudden illness should occur Procedures to be followed ensuring and maintaining safety for individuals concerned and others eg clearing the area, safely moving equipment if possible remain calm sending for help assessing the individual for injuries administering basic first aid if necessary and if trained to do so staying with the injured/sick individual until help arrives observing and noting any changes in condition providing a full(a) verbal report to relevant medical staff or others end a full written report and relevant documentation eg accident report, incident report understanding the policies, procedures and agreed slipway of working for the work settingOutcome 4 Be able to reduce the risk of infection1 Demonstrate the recommended method for hand washingRecommended method for hand washing follow the Department of Healths five-step recommended procedure for washing hands (wet hands, apply soap thoroughly, lather and scrub including between the fingers, thumbs and backs of the hands, rinse thoroughly, dry thoroughly using paper towel or air dryer) 2 Demonstrate shipway to ensure that own health and hygiene do not pose a risk to others at work. Own health and hygiene importance of basic personal hygiene measures in reducing the spread of infection eg hand washing later on using the toilet or before preparing food, ma flakeg the mouth when act reflexively or coughing, using disposable tissues, covering any cuts or abrasions with plasters or suitable dressings importance of staying away from work when affected by illness or infection getting prompt treatment for illness or infections Outcome5 Be able to move and handle equipment and other objects1 Identify legislation that relates to moving and handling Identify legislation relating to moving and handling The Health and Safety at Work Act 1974 The Manual Handling Operations Regulations 1992 (as amended in 2002) regulations from the HSC/E covering manual handling risk factors and how injuries can occur2 Explain principles for moving and handling equipment and other objects safely Safe moving and handling the key principles of avoid eg the need for perilous manual handling, assess eg the risk of injury from any hazardous manual handling, reduce eg the risk of injury from hazardous manual handling the importance of assessment, eg the task, load, working environment and individual capability reducing the risk of injury eg musculoskeletal disorders avoiding hazardous manual handling the importance of correct posture and technique working in teams the importance of a coordi nated approach and good communication using mechanical aids where necessary eg a hoist changing the task or approach where necessary the importance of following appropriate systems and agreed ship canal of working making proper use of equipment provided for safe practice taking care to ensure that activities do not put others at risk reporting any potentially hazardous handling activities3 Move and handle equipment or other objects safelyOutcome 6 Know how to handle hazardous substances and materials1 Identify hazardous substances and materials that may be found in the work setting Identify hazardous substances and materials COSHH regulations (2002) include substances that are corrosive eg acid irritant eg cleaning fluids hepatotoxic eg medicines highly flammable eg solvents dangerous to the environment eg chemicals, clinical waste germs that cause diseases eg Legionnaires disease materials that are harmful eg utilize needles potentially infectious eg used dressings body fluids e g blood, faeces, vomit2 Describe safe practises for-Storing hazardous substances use hazardous substancesDisposing of hazardous substances and materialsSafe handling of hazardous substances and materials importance of training awareness of COSHH regulations constantly follow instructions for agreed ways of working safe storage of hazardous substances and materials always follow agreed ways of working, policies and procedures eg safe storage of drugs and medicines stored out of reach store materials in containers recommended by the manufacturer importance of clear labelling containers securely sealed storing incompatible substances one by one safe usage of hazardous substances and materials always following agreed ways of working, policies and procedures avoiding exposure to hazardous substances eg inhaling, contact with the skin or eyes, swallowing or skin puncture using control measures eg universal precautions for dealing with blood and other body fluids using protective clothi ng where necessary eg Latex gloves, masks, aprons importance of checking with colleagues and completing appropriate records and documentation safe disposal of hazardous substances and materials always following agreed ways of working, policies and procedures eg use of clinical waste bags importance of protecting others eg using a sharps box for used needles protecting the environment eg disposal of dangerous chemicals minimising the spread of infection eg disposal of used dressings Outcome7 Understand how to promote molest safety in the work setting1 Describe practises that prevent fires from-a. Startingb. Spreading nix fires from starting and spreading identifying potential fire hazards in the health and social care study understanding how fires start and spread, (the fire triangle of ignition, supply and oxygen) preventing fires from starting eg the danger from lit cigarettes, naked flames, hot surfaces, faulty electrical equipment the importance of regular checks on electrica l equipment eg PAT testing the importance of staff training and vigilance in the workplace risk-assessment procedures preventing the spread of fires finished safe practices eg storage of flammable materials (waste materials, paper, wood, furnishings, flammable liquids), keeping fire doors come together the importance of checking smoke detectors regularly2 Outline emergency procedures to be followed in the event of a fire in the work setting Emergency procedures to be followed understanding how to raise the alarm if a fire is discovered, eg operating a fire alarm system agreed procedures for watchfulness all personnel in the work setting knowledge of basic fire-fighting procedures eg use of different fire extinguishers, fire blankets or other fire-safety equipment procedures for reasoning by elimination eg using designated routes, not using lifts, closing all doors special emptying procedures for very young children and individuals with mobility or other difficulties eg use of an evac-chair knowledge of voidance routes and assembly points agreed procedures for checking on the presence of all personnel in the work setting the importance of staff training and regular excretory product drills the importance of maintaining clear evacuation routes at all times eg keeping fire exits and doorways clear, not storing furniture or other equipment in the way of evacuation routes, keeping stairwells or designated special evacuation areas clear at all times3 Explain the importance of maintaining clear evacuation routes at all timesOutcome 8- Be able to fulfill security measures in the work setting 1 Use agreed ways of working for checking the individualism of anyone requesting access to- PremisesInformationProcedures for checking identity understanding the agreed ways of working for checking the identity of anyone requesting access to work setting premises eg checking official ID, signing in procedures, allocating visitorbadges, the use of biometric security syst ems such as fingerprint scanners understanding the agreed ways of working for checking the identity of anyone requesting access to information in the work setting eg checking official ID, secure password systems for electronic information understanding the importance of confidentiality relating to information procedures for dealing with electronic requests for information2 Implement measures to protect own security and the security of others in the work setting protect security understanding the agreed ways of working for protecting own security and the security of others in the work setting eg knowledge of security systems, alarms, CCTV, gaining access to buildings understanding special procedures for shift or night-time working importance of procedures for lone working and ensuring that others are aware of own whereabouts eg signing in and out, agreed procedures for communicating whereabouts, use of special codes or mobile phones importance of staff training on security and vigila nce in the workplace3 Explain the importance of ensuring that others are aware of own whereaboutsOutcome 9 Know how to manage own stress.1 Identify commonality signs and indicators of stressCommon signs and symptoms of stress physical signs and symptoms eg aches and pains, nausea, dizziness, chest pain, rapid nictation emotional signs and symptoms eg moodiness, irritability or short temper, agitation, inability to relax, feeling overwhelmed, intellect of loneliness and isolation, depression or general unhappiness cognitive signs and symptoms eg storehouse problems, inability to concentrate, poor judgement, constant worrying behavioural signs and symptoms eg eating more(prenominal) or less, sleeping too much or too little, neglecting responsibilities, using alcohol, cigarettes, or drugs to relax, nervous habits such as nail-biting2. Identify portion that tend to trigger own stressIdentifying triggers for stress work factors eg changes in routine, dealing with difficult situati ons, pressure to meet targets, interpersonal relationships with individuals and others, expectations from managers,demands of working withdrawn hours, taking on special projects personal factors eg financial problems, relationship or family problems, major life changes, bereavement, injury or illness3. Describe ways to manage own stressManaging stress understanding own act strategies relaxation techniques eg massage, yoga, aromatherapy, listening to music physical activity and exercise eg divergence for a run, joining a gym social strategies eg meeting up with friends and family, volunteering or helping with community work logical strategies eg making lists, prioritising fictive strategies eg music, painting or other artistic pursuits faith strategies eg religion or other beliefs the importance of emotional wellbeing and resilience understanding and recognising individual stressors and taking time out

Ethical and Legal Challenges in Professional Practice Essay

The American Counseling Association (ACA) cipher of moral philosophy is available to clarify the h hotshotst responsibilities for pro pleaders and future professional counselors. According to the ACA (2005), the code serves as an respectable guide designed to embolden members in constructing a professional run-in of action that best serves those utilizing counsellor services and best promotes the values of the steering profession. As a graduate student striving to achieve a Masters Degree in Counseling, it is crucial, not only to enjoy and understand the ACA computer code of morals, but also to understand any challenges that I whitethorn afford in upholding them as well as shipway to address these challenges powerfully. In this paper I examine a element of the ACA inscribe of Ethics that I find personally challenging, risk circumspection strategies physical exercised to resolve this potential ethical conflict, and a air division of the ACA Code of Ethics that wi ll not present a challenge.Personally contest Ethics CodeAccording to the ACA Code of Ethics (2005), contribution C.2.g disadvantage, counselors ar alert to the signs of impairment from their sustain physical, mental, or emotional problems and refrain from crack or providing professional services when such impairment is desirely to impairment a client or others. The ACA Code of Ethics (2005) section C.2.g Impairment also states that counselors seek assistance for problems that reach the level of professional impairment, and, if necessary, they limit, stop dead, or terminate their professional responsibilities until such time it is determined that they may safely resume their work.Personal Relevant HistoryIn 2005, during my senior social class of undergraduate aim at The University ofArizona, I was on the fast running play to law school. I was on a full scholarship, earning a 4.0 figure point average, a resident assistant for the dorms, and a member of a co-ed pre-law f raternity. I had average ideal my internship operative for senator John McCain and had faultless the scary LSAT. This is what my friends and family saw. In the background, I was struggling. During the weekends I was hosting parties, or earlier great deal would just show up and throw their own parties at my residence. I was struggling to get go forth of bed in the morning and oft came back home to take naps and miss my next few classes of the day. My grades were slipping and so was my ambition.I took it upon myself to see a psychiatrist and was prescribed anti-depressants. This medication changed my life for the worst. I did not even notice that things were spinning out of control as I maxed out my credit cards (I would just get new cards later) and making impulsive and risky decisions. I was losing sleep as I was either out socializing or home cleaning like a madwoman, and often had bouts of irritability. My boyfriend at the time (my on-line(prenominal) husband) called my parents and asked that I come home to Phoenix and fulfill help.So I had a medical withdrawal from school, returned home, and was housed with psychiatric help. I was diagnosed with bipolar derangement and informed that by taking antidepressants I was experiencing a manic occurrence. As stated by Griswold and Pessar (2000, p. 1347) enchantment referring to bipolar disorder, the use of tricyclic antidepressants should be avoided because of the possibility of inducing rapid cycling of symptoms. So with a new diagnosis the process of trial and error with mind-altering and pettishness stabilizing medications and their unavoidable side effects began. Once I was on a stable medication and dosage, I felt like myself again. I got a job at a residential word center to work with adolescents that have caprice disorders and had gotten into trouble with the law. I prepare my passion. It was a few years before I could return to school with a purpose. I was graduated from Arizona State Un iversity with a unmarried mans of Science degree in Family Studies and Human Development in May 2011 and the future goal of becoming a therapist.Future Considerations and bump ManagementStrategiesI believe that under the Impairment ethics code, mood disorders are considered a mental or emotional problem that may impair the counselor reaching the way in which a counselor provides treatment to clients. Bipolar disorder does not disappear once one takes the necessary medication. Medication alone is often inadequate to restore and economize physical health and quality of life (Rheineck & Steinkuller, 2009, p. 339). Rheineck and Steinkuller (2009) recommend that those with bipolar disorder figure in therapy in conjunction with taking their effective medication. It would be myopic of me to assume that bipolar disorder will never affect me as a therapist. If I am not aware of my moods while I am having either a depressive or manic episode I may become irritable with or place my own p erceptions onto a client. Ethically, to manage the risks involved with being a therapist who has bipolar disorder, I need to do more than take medication and participate in therapy.According to Biegel, Brown, & Shapiro (2007), a therapist should practice self-care, including self-awareness and self-regulation or coping. I conceptualise that when I am practicing, it will be self-awareness that will assist me most in terms of risk management. As an unbiased observation of my inner fuck and behavior, self-awareness could also serve as an alarm to prognosticate that I need to take appropriate actions whether to notify my supervisor, limit, or suspend my professional responsibilities. When referring to self-awareness Corey, Corey, & Callanan (2008, p. 44) state that without it mental health professionals are likely to interrupt the progress of their clients as the focus of therapy shifts from meeting the clients necessitate to meeting the needs of the therapist. To assist with my self-awareness, I plan to utilize mindfulness. Mindfulness, as defined by Campbell and Christopher (2012, p. 215), refers to a state of being aware, with acceptance, of thoughts, emotions, and sensations as they arise. I ongoingly practice various mindfulness exercises in therapy to assist with my mood disorder and coping strategies.To be a positive and healthy professional counselor I will continue with mindfulness exercises throughout my vocation and my life. I plan on practicing this daily, on my own time, so that I will be able to recognize when I am having moods or episodes that need to be addressed.Mindfulness will be additively useful, as counselors need to be straight cognizant of signs of stress and burnout and address these immediately to practice counseling ethically (Bradley, Brogan, Brogan, & Hendricks, 2009, p. 358). By being mindful and self-aware I will be able to identify the symptoms of stress and burnout as well as any number of potentially harmful feelings.Et hics Code that Does Not Present a ChallengeAccording to the ACA Code of Ethics (2005), section C.2.f Continuing Education, counselors recognize the need for go along preparation to acquire and control a reasonable level of awareness of current scientific and professional information in their fields of activity. The ACA Code of Ethics (2005) section C.2.f Continuing Education also states that counselors take steps to maintain competence in the skills they use, are open to new procedures, and keep current with the diverse populations and detail populations with whom they work.Personal Relevant HistoryIn my experience while working in behavioural health, reproduction unendingly has been emphasise and mandated each year. During the four years that I spent working at a residential treatment center, I had accumulated more than 500 hours of training. plot of ground working at a group home for a year, I had gone through more than100 hours of training. In the past year while working as a youth and family specialist I have completed an additional 60 hours of training. Although I found many of the training sessions over the years to be fairly repetitive, there were also some(prenominal) trainings providing completely new intimacy to me and therefore effective to assisting me while working with clients. Examples of recent effective trainings include crisis prevention intervention, compassion fatigue, cognitive behavioral therapy for children and adults, and behavioral health documentation.Future ConsiderationsAccording to the ACA Code of Ethics (2005), Preamble, inherently held values that guide our behaviors or exceed prescribed behaviors are late ingrained in the counselor and developed out of personal dedication, rather than the authorization requirement of an external organization. To me this statement means that as a professional counselor I will further my educationand knowledge of skills because I want to and not because an agency I work at mandates it . I do not believe that when one finishes school, they have completed learning, especially if they work in behavioral health. There are always new diagnoses, methods, and forms of treatment coming out that I want to be learn to better meet the needs of my future clients. In a mail-in survey oeuvre of 1000 licensed professional counselors conducted in 2009 pertaining to counseling grief stricken clients, Granello, Ober, & Wheaton (2012) found that the majority of the participants stated they were unprepared when it came to specific skills and lacked knowledge to address those with grief.Counselors who received training rated themselves as more equal than those who did not, with more training related to higher levels of self-perceived competence (Granello et al., 2012, p. 158). Another study conducted by Jameson, Poulton, and Stadter (2007), involved 38 therapists and evaluated the effect of a two-year continuing education program on their knowledge, skills, and application. The maj ority (74%) felt the training helped them think clearly and specifically, both about assessment issues and specific interventions (Jemeson et al., 2007, p. 113).It is clear when study these findings that further training can only help a professional to work with more specific needs of their clientele. Although all agencies have mandatory trainings, I have observed that there are hundreds of additional trainings offered yearly for any counselors who want to attend voluntarily. I plan to be a counselor who takes the opportunities offered to further educate myself, in order to improve myself and to provide my clients with a better and more knowledgeable version of me.ConclusionIn summation, I have examined a potentially personally challenging section of the ACA Code of Ethics, risk management strategies that I plan to utilize, and a section of the ACA Code of Ethics that aligns with my personal beliefs. Examining my personal experiences and traits that may conflict with the ACA Code o f Ethics, I am better preparing myself to prevent any effects they may have had toward my future clients. It is important to me that I continue to learn and apply the knowledge I gain in graduate school and additional educational settings to improve myself as a person and as a professional counselor.ReferencesAmerican Counseling Association (2005). ACA Code of Ethics. Alexandria, VA Author. Biegel, G.M., Brown, K.W., & Shapiro, S.L. (2007). Teaching self-care to caregivers personal effects of mindfulness-based stress reduction on the mental health of therapists in training. didactics and Education in Professional Psychology, 1(2), 105-115.Bradley, L.J., Brogan, W.C., Brogan, C., Hendricks, B. (2009). Shelly a case study rivet on ethics and counselor wellness. Family diary, 17(4), 355-359. Campbell, J.C., & Christopher, J.C. (2012). Teaching mindfulness to create effective counselors.Journal of Mental Health Counseling, 34(3), 213-226.Corey, G., Corey, M.S., & Callanan, P. (2008). Issues and ethics in the helping professions ( eighthed.). Belmont, CA Brooks/Cole Cengage LearningGranello, D.H., Ober, A.M., & Wheaton, J.E. (2012). Grief counseling an probe ofcounselor training, experience, and competencies. Journal of Counseling andDevelopment, 90(2), 150-159.Griswold, K.S., & Pessar, L.F. (2000). Management of bipolar disorder. American Family Physician, 62(6), 1343-1353.Jameson, P., Poulton, J., & Stadter, M. (2007). bear on and sustaining continuing education fortherapists. Psychotherapy, 44(1), 110-114.Rheineck, J.E., & Steinkuller, A. (2009). A review of evidence-based therapeutic interventionsof bipolar disorder. Journal of Mental Health Counseling, 31(4), 338-350.

International Financial Policies Essay

International Financial Policies determine how firms in internationalistic market work because if respective governments of the countries put restrictions on doing deal, it may be comparatively difficult to trade. One of the most important advantages of international monetary policies is the fact that such(prenominal) policies very much get the backing of the government then international firms find it relatively easy to have access to opposite resources besides availing different types of concessions in duties and taxes.On the other side, due to such international financial policies, international firms may have to work with relatively inefficient organizations due to contractual requirements. Most of the countries often attempt to do work in public owned entities to work with international firms therefore granted the traditional bureaucratic inefficiencies of such public institutions, resources may not be efficiently utilized and firms may not be achieving their strategic o bjectives in real term. Trade AgreementsThe trade look intoments atomic number 18 formed based on the assumptions that the countries attempt to take advantage of their relative comparative advantage. Trade Agreements are often formed between two or more countries to agree together to offer certain trade concessions to each other. Trade agreements are often formed at the government level and countries to the agreement often offer tax concessions, duty rebates, removal of trade quotas etceteraso that trade integration can take place and countries can actually gain ground from the comparative advantages of each other.Trade Agreements have greater influence on the financial causement policies because if favorable, trade agreements can relatively save crew of costs i. e. duty and tax concessions, lower interest rates etc. for the firms therefore they really have to devise policies which can allow them to manage their financial resources in most efficient manner.

The Worst Hard Time

In this work of non-fiction timothy Egan expresses his wish for sounder regimen policy to avoid natural disasters. Egans The Worst Hard Time is a harrowing tale virtually farmers who decided to stay on the plains strand so forthing crossways Texas panhandle, Oklahoma, New Mexico, and cobalt during the major drought in the 1930s. The disaster, cognize as the ashes Bowl, is by and large regarded as a compassionate caused problem. Egan, who is a national correspondent on environmental issues for the New York Times, expertly incorporates historical facts from the condemnation with real accounts from those who stayed.Although Egan follow throughs floriculture as the direct cause of the drought, winds, and remains, he portrays his characters as to a great extenty entrepreneurs who were duped onto unsustainable farm- drop wrap up. These individuals, who were known as Sod-busters, started moving into the area during the 1800s when federal government was selling land for next t o nothing. They quickly tore up huge regions of recently colonised grass-land to plant wheat. This quick change in topography caused high winds to blow off top soil that had been accumulating over millennia.High temperatures and dust storms ravaged the area cleanup position animals and humans in its wake for most of the 30s. On April 14, 1935 the region sawing machine its worst dust storm which rained more than 300,000 tons of dirt and dust. This twenty-four hours became known as Black Sunday because those who witnessed it said it blotted by the sun. The run dry grass became fuel for praire fires that were sparked by lightning. Swarms of grasshoppers and rabbits plagued the region. In ane story Egan describes a story in which the bunnies are brutally beaten while theyre assailants are still dressed in the Sunday best.The worst answer was the endless wind and dust. One young mother, Hazel Shaw, lost her cross daughter and grandmother within hours of each other to dust pneumo nia. exploitation personal stories such as this, Egan tries to point out that this disaster could afford been obstructed with more cautious government policy. Egan portrays his characters as innocent victims of railroad companies and the government. However, as the situation got worse no one told them that their call ins where founded on speculation.Egan describes how Germans, who had been lured to Russia by Catherine the broad to serve as a human buffer from the Turks, headed for the Ameri flowerpot plains when her promise of free land and no taxes was found to be false. One such man was George Ehrilich. He didnt flee the czars army, survive a hurricane at sea and live through homegrown hatred caused by the smashing War just to abandon 160 acres of Oklahoma that belonged to him and his 10 American-born children. In stories like this Egan portrays his characters as resilient and even stubborn. To survive they did what they had to do but did not give up on their dreams.Egan f ollows the stories of families that move into brisk lands in the region that rarely turned out worthwhile. In one story a family moves to an inhospitable area after grueling journey. Upon stretch their horses fell over dead and their owners were forced to drink the blood from a sows ear to stay alive. Egan expertly incorporates facts and vivid stories to gain sympathy for hard working Americans and reveal the root cause of the frame Bowl. Hopefully Egan can reach enough people that control government policy to prevent another catastrophe like the broadcast Bowl.The worst hard timeWhat lessons, If any, lead we learned from the dust axial motion catastrophe-?about how human actions, intended or not, can lead to environmental damage? Is there anything like on the horizon today? 225). What lessons, If any, have we learned from the dust bowl catastrophe-?about how human actions, well-intentioned or not, can lead to environmental damage? Is there anything comparable on the horizon today? draftsmanship on more contemporary examples of environmental disasters or concerns, write a paper that explores how this debate continues to be timely or hat takes a stand on this debate. . According to the Houston Chronicle, The Worst Hard Time documents how government and business with the best of Intentions can facilitate the destruction of an entire region. exempt how this Is true with regard to the Dust Bowl, and therefore extend your analysis to embroil the relevance of this statement to more recent events. What parallels to current events do you see? What are the implications for our society today? 3. Watch the 2012 documentary film by Ken Burns called The Dust Bowl (PBS. Erg/sunburns/dustbins), and then write a imperative analysis of the documentary film and Jeans book. Note any conflicting accounts of the dust bowl or the display of events or any additions of enlarge In one account that arent present in the other, and then suppose on the significance of the se differences. Do the accounts share the same purpose and hearing? How do the messages vary? Analyze how the different medium and genre-?a historical book vs.. A documentary film-?employ similar or differing strategies to aggregation to the audience and carry out their message. 4.As noted at the end of the book, in the section on Notes and Sources, Egan conducted the look into for the book using multiple methods and by compiling different types of data. Besides consulting globe documents (like U. S. Census reports), local public library collections, local newspapers, and other historical societies and historical lineages, Egan also did first research by visiting the High Plains and interviewing people who lived through the Dust Bowl. What is the effect of weaving personal stories and stories of individuals and families Into his historical account?What is the effect on you, as a deader, and your understanding of this historical event? Carry out your own project In which you 1 ) consult a secondary source on a local historical event (environmental, semipolitical, or cultural) and then 2) interview an older relative or acquaintance or biotic community member who has a recollection of the event. Write a report on the event, followed by a reflection on how your understanding of the event and presentation of the report were affected by these deferent types of evidence. 5.Conduct further research on the political and social events coinciding with Jeans Dust Bowl portrayal ?such as the Stock Market Crash of 1 929, the Homestead Act, the clean administration policies, the election of FED, the New Deal programs implemented by FED, etc. Then write an analysis of how an understanding of the larger cultural, historical, and economic setting can deepen our understanding of the Dust Bowl. As an alternative, you powerfulness research and write a project that examines the local context in Kansas, force on Kansas History resources (see the links at assassinations. Us/ dustbins. HTML).Or, explore, In particular, the political effects of the Dust Bowl. How multimedia project-?a website or video-?that integrates print, audio, video, and images to capture the multi-layered dumbfounds of various families and regions portrayed in Jeans book, along with the multi-sensory experiences of the Dust Bowl. You expertness create a timeline or use maps, oral histories, photos, etc. To help convey the experience via a multimedia embodimentat. Or you might focus on a key event or issue, such as Black Sunday, dust pneumonia, static electricity, soil 8 Face u I t y G u I d e wearing away and conservation, etc. ND organize your multimedia presentation around en of these topics in order to deepen and enrich understanding of these issues. 7. Write a response to the question How is this book pertinent to 21st century readers? You might consider the most serious ecological or environmental issues that we presently face, and the responses and actions of indiv iduals, communities, activists, and governments. Or, as a group collaborative project, define an ecological or environmental problem, and outline a proposal or solution that might address the problem. Present this as a multi-part paper or website. . During the Dust bowl, a umber of people left their homes-?a migration about which Steinbeck Grapes of vexation is written. But most residents chose to stay. Write a response in which you assess why the residents stayed. Would it have been better to have left? Which choice would you have made? Use illustrations and examples from the book to support your analysis. 9. Create a assort environmental blob in which you include discussion threads of historical accounts of environmental disasters-?such as the Dust Bowl-?along with accounts of current environmental events or concerns.With he purpose of creating collective action, include concrete stairs that individuals and communities might take to address environmental concerns, and include l inks to relevant national and local organizations and community groups. 10. Imagine that the sequences of journal entries from Don wood hyacinth in Nebraska (pages 244-48 274-78 294-302) were presented in the current day as a wobble or blob. Harebell, like many floggers, has chosen to leave the entries yield to comments from readers. Write a comment in response to one of the sequences of diary entries. Harebells last entry name in the form of a metrical composition (page 302).Analyze the significance of that poem, or write a response to that in the form off blob entry. 11. Jeans historical account incorporates multiple disciplinary perspectives ranging across the sciences, the social sciences, and the humanities. While the environmental perspective is crucial to Jeans account of the Dust Bowl, he is also stakesed in effects on human psychology, family behavior, marriage, labor conditions, agriculture, the food industry, the liquor laws and trade, political systems, religious sys tems, economic systems, music, the arts, etc.Drawing on your own academic (or personal) interests or the subject area or world in which you are planning to major, look for appearances of this interest/area of interest in the book. What role does your disciplinary interest (or related interest) play in Jeans historical account? Or, if you dont see your area of interest or reflect represented in Cantors account, explain what role it might have compete had it been factored in. Links to further questions for discussion or short writing prompts.

Sample Reactions Paper

Sample reading Reaction Paper The question on page 4 of milling machine is really interesting if you had a grant where would you go to conduct anthropological question and what would it be about? I remember sound offing as an undergrad what I would do if I stepped of a plane in some county. How would I til now pick the county? Can you pick whatsoever country? Do you decide on a place first, and and then what you will research, or is it the other way around? I got to resolvent many of these questions in my training, but did non fully put it unitedly till I did field deed.I also learned there is no adept answer to how, when, and where fieldwork is conducted. So many factors go into the process, there simply can non be a universal fit for anthropologists. The summary of the four subfields of anthropology is pretty perceptive and clear. Someone in class brought up whether the Garbage Project (or garbology as its often called) is really worthwhile. I confess I think statically data can tell us most of this. Further, with the limited shape of resources available to archaeological I question if its a just use of time and money.What about ancient civilizations and historically important sites we let not explored? However, a recent article in the New York multiplication Book Review made some insights I felt were relevant to this topic. Discussing literary criticism, the author said that the important part of academic research was that often the value of something was not obvious until much later on. Something that does not find a lot of relevance today may be profoundly relevant down the road. Perhaps garbage archaeology is such a field.Also, a piece I heard on NPR, with the anthropologist-in-residence with the New York sanitisation department, addressed the topic in a way I had not considered. The anthropologist was quite persuasive in the importance of understanding sanitation, its roll in modern society, and why some reflexivity on the matter is va luable. nonpareil of her major projects has been to set up a museum, which will house municipal documents on sanitation, including things like street sweeping, for the city. Given these two things, I skill give garbology a little more leeway than I at one time did.I was pleased by the section Miller included on use anthropology, a subject we cover in great detail later on, as I aroma it is very important. The reference to Paul husbandman, in a dialog box set apart from the rest of the text, is excellent. Farmer is an anthropologist whose work I did not be get hold familiar with till alumnus school. However, once I read his books I have been perpetually strike by his style of anthropology. Farmer is both a medical touch on and an anthropologist.He does not just go study people in faraway places he goes to make their lives better. His passion and advocacy should serve as a guide for our whole field. Farmers honesty about the work we do, and the obligations we should have to t he people we did research with, is not something I have come across in many places. Tracy Kidders book on Farmer, Mountains beyond Mountains, is a wonderful read. But Famers own books are even more powerful, if a little more academic. I do feel some things get rushed in the first chapter.The section on the history of anthropology is very brief. While this is not a book, or a class for that matter, on the history of anthropological theory and method, a just development of the topic is instructive. The ideas we have today are distilled from ideas that we had in the past. brain that we have refined, and even abandoned some, ideas demonstrates the place of anthropology in the world. Plus, you do not need to reinvent the wheel. And, to carry the metaphor further, some wheels do not work. We look at past ideas so we can move on from them.

Industry Life Cycle of Nokia Company

complaisant Sustain big businessman carry through with(predicate) Industry favorable Sustainability well-disposed indications for sustainable communicate and Technology Life musical rhythm worry in the execute Industry Carin Labuschagne1 and Alan C. brent1* 1 Chair of Life unity shot engineering science, De adjournment of Engineering & Technology Management, University of Pretoria, Pretoria, 0002, south-central Africa * Corresponding author (alan. emailprotected ac. za) DOI http//dx. doi. org/10. 1065/lcacc6. 01. 233 Abstract Goal, reaching and Background.The importance of the cast mark of sustainable cast up increased importantly during the last decade of the 20th century. Industry has subsequently experienced a shift in stakeholder pressures from environmental to companionable- link concerns, where new festerings in the form of visits and technologies argon undertaken. However, the measurement of t rarityer tincts and the computation of suitable expone nts are less well up authentic compared to environmental indexs in order to treasure the frameiveness liabilities associated with undertaken renders and technologies.The repel of this subject is to propose a brotherly stir indicant (SII) slowness modus operandi ground on a previously introduced Life rung jolt sagaciousness (LCIA) reckoning procedure for environmental Resource adjoin Indicators (RIIs), and to demonst inured out the practicability of the SII procedure in the circumstance of the deal persistence in confederation Africa. Methods. A example of neighborly sustainability criteria has been introduced for the federation African process industry.The kind sub-criteria of the modeling are further analyzed, based on task and engineering science heed expertise in the southwest African process industry, to determine whether the criteria should be communicate at work out or technology focussing level or whether they should rather form part of a n everyplace every incarnate governance policy for new foxs and technologies. Furthermore, the proposed indicators for criteria that are considered stamp down for chuck or technology evaluation purposes are constrained by the timber of training that is lax, i. e. he tally methodology relies on the accessibility of surface cranial orbital or national favorable study where the take care masterminding be implemented, as well as the availability of project- or technology- proper(postnominal) friendly culture during the various phases of the project or technology ripening keeptime unit of ammunition. Case studies in the process industry and statistical information for southeastern Africa are subsequently manipulationd to establish information availability for the SII calculation procedure, demonstrate the SII method together with the RII method, and determine the pragmatic use of the SII method.Results and Conclusion. The episode studies establish that ge nial token information as well as project- and technology favorable data are not readily for sale in the randomness African process industry. Consequently, the number of mid-point categories that can be evaluated are minimal, which results in an impaired brotherly picture when compared to the environmental dimension. It is reason out that a quantitative mixer blow assessment method cannot be applied for project and technology bread and buttertime round of golf guidance purposes in industry at present.Recommendation and Perspective. Following the outcomes of the role studies in the sulfur African process industry, it is recommended that checklists and guidelines be utilize during project and technology feel wheel around management practices. corresponding to the environmental dimension, it is envisaged that such checklists and guidelines would improve the availability of quantitative data in time, and would therefore make the SII procedure more operable in the f uture.Keywords Life regular recurrence dissemble opinion (LCIA) Life steering wheel Management (LCM) process industry Resource Impact Indicator (RII) mixer Impact Indicator (SII) amicable sustainability Introduction The last decade of the twentieth century marked significant steps to draw the friendly dimension of sustainable development into the open 1. The inclusion of social aspects in the sustainability conceive and practice has nevertheless been marginal compared to the attention apt(p) to the other dickens dimensions, peculiarly from a craft vista 1,2,3.However, stakeholders are forcing companies to channelize the inclusion of social sustainability by shifting pressure from environmental to social related concerns 4,5. The social dimension is comm just now recognised as the weakest pillar of sustainable development due to a neediness of analytical and theoretical underpinnings 5 and it is believed that the declare of development of indicators or measurements f or social business sustainability parallels that of environmental performances about 20 years ago 6.Nevertheless, there is a definite withdraw for practical tools to introduce social sustainability into business evaluation processes 1,7,8. This typography proposes a methodology to assess the social sustainability of projects and technologies in the process industry by conniving social trespass indicators, and addresses the following twain questions 1) What social criteria must such an assessment methodology consider and measure? 2) How must these criteria be addressed and measured?To address the first question, a framework of social business sustainability criteria is checkd, which is relevant for in operation(p) initiatives in the process industry. cordial sustainable development indicators are then introduced, demonstrated and discussed, based on the delineate framework. Int J LCA 11 (1) 3 15 (2006) 2006 ecomed publishers (Verlagsgruppe Huthig Jehle Rehm GmbH), D-86899 Landsberg and Tokyo Mumbai Seoul Melbourne capital of France 3 extremity Industry societal Sustainability office (CSR) literary works and guidelines, and other internationalistic guidelines were undertaken ( panel 1) 9.The synopsis furnished that a comprehensive social sustainability framework should define attach criteria to address the beau mondes rivals on the social systems in which it operates, as well as the companys relationship with its various stakeholders. A sustainable development framework for practicable initiatives was subsequently developed and proposed, the social dimension of which is shown in Fig. 1. submit 2 provides the definitions of the criteria at the resistent levels of the framework, which are described in detail elsewhere 9. 1 1. 1 loving Sustainability Criteria poser organic evolution of a framework for business management purposes in the process industry The sure indicator frameworks that are forthcoming to measure overall business s ustainability do not inwardnessively address social aspects of sustainability at operational level in the process industry, especially in ontogenesis countries such as southeast Africa 9. The question arises what the contain scope of social sustainability should entail from a business management perspective. An analysis of current for sale frameworks, companionable Impact Assessment (SIA) guidelines, embodied affableTable 1 depth psychology of the social criteria addressed by current frameworks and guidelines 9 Name and graphic symbol of belles-lettres health re proceedsion Environment trapping / Living conditions ? ? ? ? ? ? ? ? ? Criteria golf club Security / Crime Facilities & serve Population characteristics partnership characteristics economical universe assistance / job ? ? ? ? ? ? ? ? ? ? ? ? Indicator frameworks United Nations 1 ? ? 3 ? ? ? ? ? ? ? world(prenominal) reportage Intitiative2 IchemE Sustainability prosody Wuppertal Indicators 4 European Concep tual Framework for Social Ind. SIA literature Interorganizational Committee on Guidelines and Principles6 Socioeconomic impacts for Energy Efficiency despatch for humor variety show Mitigation7 South Sydney Council SIA 8 checklist SIA categories for development 9 projects in South Africa South African social criteria for CDM project evaluation10 Classification of social impacts 11 according to wagon trainclay Classification of social impacts 11 according to Juslen Classification of social impacts according to Gramling and 11 Freudenburg SIA Series Guide to Social Assessment12 Government actions European Greenpaper on CSR humane being edges Social Analysis 14 Sourcebook SRI Indexes Dow J one(a)s Sustainability Index FTSE 4 GOOD16 JSE SRI Index 17 18 15 13 ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? Pressures from international financing organisations ? ? ? ? ? ? ? ? Dominini 400 Index world(a) Compact19 International standards and guidelines global Sullivan Principles20 Caux Round Table OECD Guidelines SA 8000 23 21 22 AA degree Celsius024 Investors in heap CSR standards Ethos Indicators 27 25 26 Ethical Trading Initiative ? 29 ? ? ? ? ? Standards of CSR28 Danish Social Index 4 Int J LCA 11 (1) 2006 Social Sustainability appendage IndustryTable 1 Analysis of the social criteria addressed by current frameworks and guidelines 9 (contd) Name and type of literature Society conjunction cohesion Indicator frameworks 1 United Nations 2 Global inform Intitiative ? 3 IchemE Sustainability Metrics 4 Wuppertal Indicators European Conceptual Framework ? 5 for Social Ind. SIA literature Interorganizational Committee on ? 6 Guidelines and Principles Socioeconomic impacts for ? Energy Efficiency Project for 7 Climate Change Mitigation 8 South Sydney Council SIA checklist ? SIA categories for development ? 9 projects in South Africa South African social criteria for CDM project evaluation10 Classification of social impacts ? 11 according to Vanclay Classification of social impacts ? 1 according to Juslen Classification of social impacts ? according to Gramling and 11 Freudenburg SIA Series Guide to Social ? Assessment12 Government actions 13 European Greenpaper on CSR ? Pressures from international financing organisations World Banks Social Analysis ? 14 Sourcebook SRI Indexes 15 Dow Jones Sustainability Index FTSE 4 GOOD16 17 JSE SRI Index 18 Dominini 400 Index International standards and guidelines 19 Global Compact 20 Global Sullivan Principles Caux Round Table21 22 OECD Guidelines 23 SA 8000 ? AA 100024 ? 25 Investors in People ? 26 Ethical Trading Initiative ? CSR standards 27 Ethos Indicators 28 Standards of CSR Danish Social Index29 1Criteria Society and company (interlinkage) Product Community Stakeholder Training, responsibility involvement participation / learning of of company Engagement staff Equity Company internal Fair humans labour rights practices Employee health and safety ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 United Nations Commission on sustainable ontogeny (2001) Indicators of sustainable development guidelines and methodologies. United Nations. lendable from http//www. un. rg/esa/sustdev/ natlinfo/indicators/indisd/indisd-mg2001. pdf, visited on 19 November 2003 Global Reporting Initiative (2002) Sustainability Reporting Guidelines 2002. Global Reporting Initiative, Bos net gross ton Institution of chemical substance Engineers, (2002) The Sustainability Metrics sustainable growth Progress Metrics recommend for use in the Process Industries. Institution of Chemical Engineers. Rugby Spangenber g JH, Bonniot O (1998) Sustainability Indicators A Compass on the Road Towards Sustainability. 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In Khosa M (ed), Infrastructure Mandate for Change 19941999.Human Sciences look Council (HSRC) Publishers, Pretoria Brent AC, Heuberger R, Manzini D (2005) Evaluating projects that are potentially eligible for wise Development Mechanism (CDM) funding in the South African context A flake excogitate to establish weighting fosters for sustainable development criteria. Environment and Development Economics 10 (5) 631649 Vanclay F (2002) Conceptualising social impacts. Environmental Impact Assessment Review 22 (3) 183211 Branch K, Hooper DA, Thompson J, Creighton J (1984) Guide to Social Assessment A framework for assessing social change. western hemisphereview Press, capital of the United Kingdom European Commission duty and Social Affairs (2001) Promoting a European framework for corporate social responsibility. European Communities, Luxembourg Social Analysis and Policy Team (2003) Social Analysis Sourcebook Incorporating Social Dimensions into Bank- reenforcemented projects.Washington DC, The World Bank Social Development discussion section surface-to-air missile Indexes (2003) Dow Jones Sustainability World Indexes Guide, Version 5. 0. SAM Indexes GmbH, Zollikon-Zurich FTSE (2003) FTSE4Good Index Series Inclusion Criteria. 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OECD subject, Paris Social Accountability International (2003) Overview of SA8000. Available from http//www. cepaa. org/SA8000/SA8000. tm, visited on 4 shew 2003 AccountAbility (1999) Overview of the AA1000 framework. AccountAbility Publication, London, easy from http//www. lookability. org. uk/uploadstore/cms/docs/AA1000%20Overview. pdf, visited on 29 celestial latitude 2003 Investors in People UK (2003) The Standard. Available from http//iipuk. co. uk/IIP/Internet/InvestorsinPeople/TheStandard/default. htm, visited on 29 December 2003 Ethical Trading Initiative (2003) Ethical Trading Initiative Homepage. Available from http//www. ethicaltrade. org, visite d on 29 December 2003 Ethos Institute for Business and Social Responsibility (2001) ETHOS Corporate Social Responsibility INDICATORS.Instituto Ethos de Empresas e Responsabillidade Social, Sao Paulo Goodell E (ed) (1999) Social sham Networks Standards of Corporate Social Responsibility, Social Venture Networks, San Fransisco Danish Ministry of Social Affairs, KPMG, Socialforskningsinstituttet (2000) Social Index criterion a Companys social responsibility, Danish Ministry of Social Affairs, Copenhagen Int J LCA 11 (1) 2006 5 Process Industry Social Sustainability Social Sustainability informal Human Resources immaterial Population macro Social Performance Stakeholder amour physical exercise stability Human Capital Socio- Economic Performance instruction Provision Employment Opportunities Employment Renumeration Employment Practices wellness Economic social welfare Trading Opportunities Socio- Environmental Performance Collective Audience Selected Audience Stakeholder check Education nut-bearing Capital disciplinary & Security Practices Employee Contracts Equity Ho utilize MonitoringDecision Influence capability Stakeholder Empowerment Service Infrastructure Mobility Infrastructure regulatory & Public go Community Capital Legislation Enforcement agitate Sources Health & golosh Health & safe Practices Health & Safety Incidents electrical faculty Development Sensory Stimuli Cultural Properties Social Pathologies Security Economic social welfare Social Cohesion Research & Development Career Development Fig. 1 Framework to assess the social sustainability of engineering projects and technologies 9 Table 2 Definitions of Social Criteria 9 inside Human Resources focuses on the social responsibility of the company towards its workforce and includes all aspects of involvement.The amount addresses a business initiatives impact on work opportunities in spite of appearance the company, the stability thereof as well as Employment Stability evaluating the fairness of compensation. Disciplinary and secrecy practices as well as employee contracts are addressed under this criterion. These are evaluated to Employment Practices ensure that it complies with the laws of the country, international human rights declarations as well as other human rights and fair job practice standards. The criterion focuses on the health and safety of the workforce and evaluates tour measures as well as the occurrence Health & Safety and intervention of health and/or safety incidents. Capacity Development The criterion addresses two different, aspects namely interrogation and development, and career development. outside Population focuses on the external impacts of the companys operational initiatives on a society, e. g. impacts foreign Population on the availability of run, participation cohesion, economic welfare, etc. Human Capital refers to an individuals ability to work in order to generate an income and encompasses aspects such as health, H uman Capital psychological wellbeing, education, training and skills levels. The criterion addresses Health and Education separately. Productive capital entails the assets and infrastructure an individual needs in order to agree a productive life. The criterion Productive Capital measures the strain place on these assets and infrastructure availability by the business initiative.This criterion takes into account the effect of an operational initiative on the social and institutional relationships and net incomes of Community Capital authority, reciprocity and support as well as the normal characteristics of the community. macro Social Performance focuses on the region of an organisation to the environmental and financial Macro Social Performance performance of a theatrical role or nation, e. g. contribution to exports. Socio-Economic Performance This criterion addresses the external economic impact of the companys business initiatives. Economic welfare (contribution to GDP, t axes, etc. ) as well as trading opportunities (contribution to foreign currency savings, etc. ) are addressed separately.Socio-Environmental This criterion considers the contributions of an operational initiative to the improvement of the environment for society on a Performance community, voiceal and national level. The extension of the environmental monitoring abilities of society, as well as the enhancement of legislation and the enforcement thereof, are included in this criterion. Stakeholder elaboration focuses on the relationships between the company and ALL its stakeholders (internally and Stakeholder Participation externally) by assessing the standard of information sharing and the degree of stakeholder influence on decision-making. The beat and quality of information shared with stakeholders are measured.Information can either be shared openly with all Information Provisioning stakeholders (Collective Audience) or shared with sterned, limited groups of stakeholders (Se lected Audience). The degree to which the company actually listens to the stakeholders imprint should too be evaluated. twain separate subStakeholder Influence criteria are included Decision Influence Potential and Stakeholder Empowerment. intrinsic Human Resources 6 Int J LCA 11 (1) 2006 Social Sustainability Process Industry The conclusion was reached that no social aspect of the ten projects could be found that could not be class into the criteria framework. In addition, all of the social criteria did not manifest in each asset life round of golf phase. However, there may be social aspects that did not manifest in either the guinea pig studies or the framework.Nevertheless, the basis on which the individual cutting studies were chosen makes these elusions adequately representative of the current social environment in which construction, operation, and decommissioning occurs in the process industry. It is subsequently concluded that the framework is complete seemly to be employ as an initial basis to develop a social assessment methodology, which can incorporate social sustainability into project and technology management practices. The social sustainability framework was further validated by authority of a Delphi Technique survey 12. The survey focused on the relevance of the proposed social criteria for the evaluation of projects or technologies and attempted to answer whether the project team, a functional unit at bottom an organisation, or an organisations corporate governance framework should address the different social aspects.A total of 23 project management experts in a process industry company in South Africa participated in the survey, which effected the suitability of the social criteria, as well as the relevance of the criteria in terms of sustainable business practices. The outcomes of the survey support the conclusion reached by the case studies, but also suggest, according to the opinion of project management experts, that al l the criteria are not relevant to project and technology management, but should rather manifest as part of corporate policy (Table 3) 11. 1. 2 Verification and validation of the completeness and relevance of the social criteria of the framework The social sustainability framework was verified by means of case studies testing the completeness and relevance of its criteria.Since the aim of the framework is to assess the social sustainability of projects and technologies in the process industry, ten case studies were chosen that represent the common chord phases of the asset, or technology, life speech rhythm with the greatest potential to cause social impacts, i. e. the Construction Phase, the Operation Phase, and the Decommissioning Phase. The rationale for focussing on the three asset life bicycle phases, as well as the interaction between asset and project life cycles, can be found in literature 10. The case studies aimed to describe the significant social impacts that may occ ur during the life cycle phases in relation to the proposed framework, and to identify any social impacts that cannot be classified into the framework 11 The construction of three process industry facilities an incinerator, a mine, and a gas pipeline. The operation of four chemical manufacturing facilities, one in Germany, one in the USA, and two in different provinces in South Africa. The decommissioning of three process industry facilities a cyanide manufacturing prepare, an acrylic fiber fibre manufacturing lay, and a mine. Project related documentation, pertaining to each of the case studies, was evaluated and personal interviews were held with project obligated individuals 11. It must be noted that in case rent research it is not easy to familiarise results, since statistical analysis cannot necessarily be applied. Cases are not sampling units and cannot be treated as such. Table 3 Delphi Technique survey results 11Criterion Employment Opportunities Employment Remunerat ion Disciplinary & Security Practices Employee Contracts Equity & Diversity Labour Sources Health & Safety Practices Health & Safety Incidents Research Development Career Development Health Education Housing Service Infrastructure Mobility Infrastructure Regulatory & Public Services/ Institutional Services Sensory Stimuli Security Cultural Properties Economic Welfare Social Pathologies Social Cohesion Economic Welfare Trading Opportunities Monitoring Legislation Enforcement Information Provisioning Stakeholder Influence Project x The criterion should be addressed by Business Strategy x x x x x x x x x x x x x x x x x x x x x x x x x x Functional department x x x x x x x x x x x x x x x x x x x x x x x x x x x x x x x Int J LCA 11 (1) 2006 7 Process Industry Social Sustainability CC = Characterisation factor for an impact category (of intervention X) within the pathway. As a first approximation no characterisation factors are sham and social LCI constituents are considered separate ly.NC = normalization factor for the impact category based on the social objectives in the region of assessment, i. e. the inverse of the target show of the impact category. The information is obtained from social stones throw data in the region of the assessment. And, moment (or relative importance) of the impact category in a social group based on the distance-to-target method, i. e. current social state divided by the target social state (see section 1. 2). 2 Social Impact Indicator (SII) tally Procedure The main focus of this paper is the development and testing of a quantitative social sustainable development indicator calculation method.A life cycle impact assessment (LCIA) woo has been proposed before for the evaluation of the social impacts of life cycle systems from compiled LCIs 13,14. An introduced LCIA methodology developed specifically for the South African context, termed the Resource Impact Indicator (RII) preliminary 15, is thereby used as basis for the develo pment of social indicators. The environmental RII approach considers the current and target ambient state or bionomical dance step through a conventional distance-to-target normalisation and weighting calculation procedure 15. A analogous calculation procedure is proposed for Social Impact Indicators (SII), using the four main social criteria (shown in Fig. 1) as scene of actions of Protection (AoP).Three of these criteria represent the main groups of social resources on which the company can nurse an impact, while the fourth criterion represents all relationships between the company and stakeholders. The general SII calculation procedure is described through Eq. 1. (1) Where SIIG = Social Impact Indicator calculated for a main social resource group through the sum totalmation of all impact pathways of all categorised social interventions of an evaluated life cycle system. QX = Quantifiable social intervention (X) of a life cycle system in a nub impact category C, i. e. proj ect or technology specific information with regards to social impacts. Table 4 plaza categories and evaluation methods 17 Social Impact Indicators (SIIs) Internal Human Resources substance category SC = CS = TSTo develop the calculation method, the same case studies used for the verification of the social criteria (see section 1. 2) were used to compile a list of possible social interventions, i. e. a social Life round Inventory (LCI) of assessed operational initiatives in the process industry. However, the RII method makes use of mid-point categories. To define eye categories, the list of social interventions was mapped against the social criteria at various levels within the proposed social sustainability framework. A causal relationship diagram was consequently established for each of the four main social criteria, which define the nerve centre categories. These causal diagrams are shown in the Appendix 16.Three measurement methods are proposed to express the defined nub ca tegories in equating units (Table 4) 17 Established risk of infection assessment approaches, which conduct a inherent evaluation of the probability of occurrence, the projected frequency of the occurrence, and the potential intensity thereof Measurement methods to establish equivalence units quantitative danger duodecimal Quantitative try Qualitative Quantitative Qualitative Quantitative Quantitative Quantitative Quantitative Quantitative Quantitative Quantitative Quantitative Quantitative Qualitative Quantitative Qualitative/Quantitative Quantitative External Population Stakeholder Participation Macro-Social Performance ageless internal duty positions Internal Health and Safety situation Knowledge level / Career development Internal Research and Development capacity encourage level / Nuisances Perceived aesthetics topical anesthetic vocation topical anaesthetic population migration Access to health facilities Access to education accessibility of acceptable housing ac cessibleness of peeing serve Availability of competency services Availability of waste services Pressure on public displace services Pressure on the transport network / People and goods battlefront Access to regulatory and public services Change in relationships with stakeholders External value of purchases / supply chain value/ record of Purchases Migration of clients / Changes in the product value chain/ spirit of Sales overture of socio-environmental services 8 Int J LCA 11 (1) 2006 Social Sustainability Process IndustryTable 5 Proposed Midpoint Categories for the four main social criteria together with proposed units of equivalence Social AoP Internal Human Resources Midpoint division Permanent Internal Employment Positions Possible Health and Safety Incidents Internal Research & Development Capacity External Population pouf Level/Nuisances Units of equivalence reckon of employment opportunities equivalent to a specific position Fatality or hinderance Injury Rate Cost spend on R capacity venture of uncomfort/ Kilo heaps of pollutants emitted per annum Intervention Information, i. e. project Social step Information needed or technology information Number and type of employment Employment by type, i. e. osition and opportunities created or destroyed full-time/part-time, for municipality Risk of health and safety incidents with prediction of number based on akin previous undertakings Investment by project in R as part of project budget Predicted emissions that can smell or risk of emissions Industry fatal accident or disability injury rate municipality budget on R or industry budget Emissions and ruffle level of municipality as well as acceptable levels by standards, e. g. SABS standards Predicted upset levels or risk of noise Aesthetics Level of perceived acceptableness Risk of structure and location having a negative impact on aesthetics of community Perceived level of aesthetic acceptability by community Local Employment Fraction of emplo yable community hours Number of permanent job type equivalents Calculation permanent positions multiplied by conversion factor Employment by type for community or municipality Local Population Migration Access to health facilities Level of short-term demographic changes People per pendent doctorPredicted change in local population Predicted increase or decrease in ratio, focus only on public health sector Predicted impact on the number of literate adults The predicted need for houses which must be build multiplied by the clean size of it Quantity of weewee used or supplied Quantity of electricity used or supplied Quantity of waste generated and/or quantity of waste outside from municipal celestial sphere Number of additional public transport position required Tons of good transported on roads and or kgmeter of road infrastructure provided Percentage of turnover or expenses spend topically Monetary amount spend on services, resources or information that will improve macro en vironmental performance Predicted Percentage improvement or deterioration in perceived stakeholder assert Demographic profile of community or municipal area National ratio of peck per qualified doctor or international ratio Literate adults in municipality area or region Size of municipality area Access to Education Availability of acceptable houses Availability of water services Availability of qualification services Availability of waste services Pressure on public transport services Pressure on transport network/ People and goods movement Macro Social Performance Literate adults Zoned residential area per capita peeing of drinking quality per capita kWh of electricity per capita Capita per Gh landfill site urine of drinking quality used by municipality Electricity usage by municipality Landfill sites (type and size) used by municipality Public Transport seats available in municipal area Ton kilometres per capita (in region or nationally) Gross Domestic Product (GDP) per region and/or per industry. Monetary amount spent on Environmental Services by the region, i. e. provincial government or municipal council Perceived stakeholder trust based on community questionnaires or surveys Seat kilometres per capita Ton kilometres per capita External value of purchases Fraction of purchased locallymanufactures goods Improvement of SocioEnvironmental Services Cost spent on SE services per capita Stakeholder Participation Change in relationships with stakeholders Level of stakeholder trust Quantitative evaluation approaches, including, but not limited to, costs and show measurements in society and Qualitative evaluation approaches, which require appropriate subjective scales and associated guidelines, and have been proposed for the industrial ecology and streamlined LCA disciplines (see section 1. 2). The defined midpoint categories, which, from the validation survey (see section 1. 2), are considered appropriate at project or technology management level, together with pro- posed units of equivalence for evaluation purposes are shown in Table 5. The units of equivalence were determined from the characteristics of the social interventions set from the ten case studies.The definitions of the midpoint categories make it evident that the normalisation and entailment steps will be constrained by what is practicably measurable within a society where an operational initiative, i. e. project or technology (from an industry perspective), will typically occur. The availability of information is likely to differ be- Int J LCA 11 (1) 2006 9 Process Industry tween developed and developing countries. Furthermore, the projection of the social interventions of a project or technology may be problematic or at least differ from case to case. Separate studies may be required for nigh of the social sustainability criteria, e. g. stakeholder participation, pull down at project-specific level, which may be problematic. Case Studies to Demonstrate and Test the SII Calculation Method Social Sustainability 3. 1 Construction of an open cast mine 3. 1. 1 Background The SII calculation method was applied to three case studies to determine the current feasibility thereof in terms of data availability. In the third case conduct, environmental Resource Impact Indicators were also calculated using the RII method 15. All case studies are set in South Africa and project information was obtained from Environmental Impact Assessment (EIA) studies as well as interviews with members of the respective project teams. Due to the hindsight coating of the SII method no additional data could be collected from a project perspective.Social footprint information was obtained from Statistics South Africa 18 South African Department of Transport 19 South African Council for scientific and Industrial Research (CSIR) 20 South African Department of Health 21 South African Department of Labour 22 NOSA International 23 and Municipal Demarcation Board South Af rica 24 and individual municipalities, e. g. some municipalities have undertaken Strategic Environmental Assessments (SEAs) in certain regions of South Africa. In the case studies, mid-point categories were evaluated in respect of whether some(prenominal) project and social footprint information are available, and if the respective information is comparable. It is noted that whereas LCA normally considers a products life cycle, these case studies focus on the asset, or technology, life cycle (as described in section 1. 2) with the functional unit being one operational year of the asset.However, since the asset life cycle and the associate product life cycle interact through the assets operational phase 10, the indicators could be translated to a typical product-manufactured functional unit. In 1996 a petrochemical company in South Africa announced its intention to develop an rough Cast Strip Mine on the banks of the Vaal River between the Gauteng and Free severalize Provinces. Th e project was motivated on the basis that the reserves of the companys main mine in the area had reached the end of its economic life and that this posed a threat to the future of a large chemical manufacturer in a nearby township, which was supplied by the mine from 1952.Ultimately, a threat to the human race of the chemical manufacturer is a direct threat to the existence of the town and in a sense the province since the manufacturer contributes 12% to the geographical economy of the region. The project was met with a lot of resistance from the public, especially owners of riverbank properties. The project was stopped after a non-governmental organisation took the company to solicit and won a legal battle, which changed the mining legislation of South Africa. 3. 1. 2 Available project and social footprint information Tables 6 and 7 summarise the available project information and social footprint information that have been obtained from the Environmental Management Programme R eport 25 and the specialist study on the macro social economic impacts 26. 3. 1. 3 SIIs for the projectThe information presented in Tables 6 and 7 highlights the mismatch between available project and social footprint information. SIIs were calculated as far as possible where both appropriate project and social footprint information was available for midpoint categories (Table 8) using Eq. 1. The project will have an overall positive social impact, although job creation could not outweigh the negative impact on the comfort level on the neighbourhoods in a close neighbourhood to the sic. The overall positive impact is mainly due to the large contribution the project will make to the Gross Geographic Product (GGP) of a relative small area, which relies strongly on mining.Table 6 Available project social intervention information for the proposed mine Construction Employment Opportunities created Employment Opportunities destroyed Indirect Employment Opportunities Contribution to GDP ( added or lost) decline in property values Increases in Ambient Noise levels (dBa) on just Dust (mg/ solar day/m2) 450 people 24138 Operation 300a employment opportunities over a 20 year life span 24121 Multiplier effect of 2. 8 840a a 20 employment opportunities on farmsa 24 267 Multiplier effect of 2. 8 1260 R52 million per annum (in 1999/2000) 2532 9-19% (year 110) 24 258 2 24 195 Between 50250 24 187 26% (after year 10 till mine closure) 24258 2 24 238239 100a 24 231 a a These values are used as quantifiable social interventions (Qx) in the SII calculation procedure. The South African Rand is relate to near 0. 12 Euros (as at the end of October 2005). 10 Int J LCA 11 (1) 2006 Social Sustainability Process IndustryTable 7 Available social footprint information for the region of the proposed mine Labour Force Potentially Economically Active 25 55 append 736,721 100% Estimated ambient noise level (dBA) 24 97 Time of day Morning noonday Evening Night Over 24 hours Sasolburg GD P (1991) due to kind of activity 25 59 Mining & Quarrying Dust Pattern 25 MarchJuly heroicDecember JanuaryFebruary Dust Figures 25 September October (2 x sites) November (1 site) a b c Employed 308,826 41. 9% a Un employ 149,335 20. 3% a not-economically active 278,560 37. 8% Typical weekday 50. 9 46. 9 41. 4 34. 7 44. 6 b Typical weekend 49. 2 48. 0 46. 9 42. 3 46. 8 b R 259 677 000 per annumc Low Higher Lower 251 viosterol mg/day/m2 5011200 mg/day/m 5011200 mg/day/m 2 2 Moderate Heavy Heavy The sum of these values are the target state for the region. The current tate refers to only the value 308,826. The average of these two values are used as the target state for the region. The current state is assumed fitting to the target state. respect used for target and current state for the region. The South African Rand is equal to approximately 0. 12 Euros (as at the end of October 2005) 3. 2 Operation of a chemical instalment 3. 2. 1 Background The chemical facility is situated on a 6,798 ha industrial site in South Africa. The construction of the site started in the early 1970s and was finished in 1980. It employs approximately 7000 permanent employees. The facility contributes 13% to the economy of the geographic region. 3. 2. Available operation and social footprint information A Strategic Environmental Assessment of the area South African Census Information and South Africas Compensation Fund Statistics. References of these sources are withheld to protect the companys identity. Table 9 summarises the available plant information and social footprint information that were obtained. 3. 2. 3 SIIs for the operation The following sources of information were used to calculate SIIs The companys sustainable Development Report Table 10 shows the calculated SIIs using Eq. 1. Table 10 shows that the operation of the plant has in total a negative social impact. The positive contribution to GDPTable 8 work out Social Impact Indicators for the proposed open cast m ine from the available case study information Area of Protection Internal Human Resources External Population Intervent. Employment construct Permanent Positions b Noise & Dust 1 Generated 2 record of Sales Midpoint Category Permanent Positions Local Employment entertain Level Intervent. look on 300 in total 2195200 hrs a calibration cheer (Ts1) 06 2. 183 x 10 1. 11 x 10 09 Significance take to be (Cs/Ts) 0. 674 0. 674 1 1 1 Midpoint Indicator Value 4. 41 x 10 04 SII Value 4. 4 x10 04 1. 65 x 10 03 7. 5 x10 02 01 External Value of 2. 0 x 10 Macro Social Purchases Performance No information available Stakeholder Participation 01 concluding Social Impact Value 1. 5 x10 a Total of 1140 permanent positions at 40 hours per week assumed for 49 weeks (three weeks vacation, etc. ). b A target (and current) state is taken as the burden average for the region, i. e. 916 mg/day/m2. 1 Since no characterisation factors for noise to dust or dust to noise is available, the midpoint. categ ory was calculated as a weighted average with equal weights to each constituent. 2 The units of equivalence have been changed to contribution to GDP due to the information available. 2 dBA 2 100 mg/d/m R 52 mil. 2. 19 x 10 03 1. 09 x 10 03 3. 85 x10 02 4. 38 x 10 01 1. 09 x 10 01 2. 0 x 10 02 Int J LCA 11 (1) 2006 11 Process Industry Social SustainabilityTable 9 Available operational and social footprint information for the region of the chemical facility Interventiona Employees Plant Informationb 7,000 Social Footprint Information taper To have everyone employed excluding people who prefer to be not economically active. Govan Mbeki Municipality Employed 60,681 inactive 40,189 Total Labour Force 100,870. Employable Community Work hours assuming all full-time employees 40 hours 49 weeks (3 weeks leave). 13 019 (target and current state assumed equal). Not available Not available Not available 197 kilo ton 138. 8 kilo ton 394 kilo ton 90 kilo ton (Permit 101) 44,109. 2 kilo ton atmospheric Emissions (concentration information from SEA) nighttime 1 minute of arc Maximum NO2 concentration Average of 5 3 receptor points 539. g/m Acceptable Target (WHO guideline) 200 g/m3 (1-hour NOx average) Current State 1 Hour Maximum NO2 concentration based on maximum predicted concentration 801 g/m3 Acceptable Target (WHO guideline) 125 g/m3 Current State 24 Hour Maximum SO2 Concentration based on based on maximum 3 predicted concentration 152 g/m Target (1200 year firm yield) 150 million m per annum Current (predicted 1998/2000 average) 183. 6 million m3 per annum R 49,707 million Not available Not available 3 Indirect Employment Creation 21,000 (applying the rule of 3 used in SIAs) Total Injuries crippling Injury Rate (no/200,000 hours) Health & Safety Incidents (Spillages) Atmospheric Emissions SO2 NOx VOC H2S CO2 541 0. 59 70 Not available Not available Not available Not available Not available SO2 24 Hour Maximum SO2 Concentration based on average of 5 receptor p oints 127. 4 g/m3 Water rule River Water 89,963 m 3 Financial Turnoverc Transportation Incidents Complaints a b R 7835 million 12 36 cOnly those quantifiable social interventions for which plant and social footprint information is available, are used in the SII calculation procedure. All plant information has been obtained from the Sustainable Development Report where the average of data available has been used unless otherwise stated. The South African Rand is equal to approximately 0. 12 Euros (as at the end of October 2005). Table 10 Calculated Social Impact Indicators for the chemical facility from the available case study information Area of Protection Internal Human Resources Intervent. Midpoint Category Permanent Positions Possible Health and Safety Incidents Local Employment Comfort Level Availability of water services External Value of Purchases Intervent.Value 7,000 541 normalization Value (Ts1) 9. 91 x 1006 7. 68 x 10 05 Significance Value (Cs/Ts) 0. 602 1 Midpoint Indi cator Value 4. 17 x 1002 4. 16 x 10 02 SII Value Employment Creation Health & Safety Incidents 1. 9 x1004 External Population Permanent Positions Atmospheric Emissions (SO2) Water Usage 41,167,000 hrs 127. 4 g/m 89. 963 m 3 3 5. 06 x 10 0. 008 0. 007 09 0. 602 1. 216 1. 224 0. 125 1. 239 0. 734 0. 158 1. 85 Macro Social Performance Stakeholder Participation Nature of Sales R 7835 mil. 2. 01 x 10 05 1 0. 158 No information available 1. 69 x10 01 Final Social Impact Value 12 Int J LCA 11 (1) 2006 Social Sustainability nd employment cannot outweigh the negative impacts on comfort level, people (in the form of health and safety accidents), and the water usage. The biggest social impact is the impact on comfort level due to atmospheric emissions, i. e. secondary environmental impacts. 3. 3 Decommissioning of a fibre manufacturing plant Process Industry In addition, environmental RIIs were calculated using standard RII values, which were calculated for selected process parameters 27. Tabl e 11 shows the available project and social footprint information. 3. 3. 3 Environmental and social impact indicators 3. 3. 1 Background Tables 12 and 13 show the calculated Social and Environmental Impact Indicators.The values in Tables 12 and 13 show that although a similar methodology was followed to calculate SIIs compared to RIIs, the indicator outcomes are vastly different. This highlights that the interpretation of indicators remains challenging. Assessing the overall sustainability performance of a project or technology by allowing trade-offs between the contributions and damages should be seriously considered before it is applied. Ultimately, the trade-offs between the different dimensions would be the responsibility of the specific decision-makers, and therefore reflect the preferences of the decision-makers. 3. 4 Conclusions from the case studies In the early mid-nineties a second-hand acrylic fibre plant from a manufacturing facility in France was dismantled and relocate d in the KwaZulu Province of South Africa.However, the decreasing acrylic fibre market in South Africa, combined with a lack of import protection, led to the decision to decommission the plant in March 2002. The plant manufactured its last products in May 2002, which were sold in August 2002. The plant was dismantled and the site rehabilitated by March 2003. 3. 3. 2 Available project and social footprint information Using the companys sustainable development report, the Strategic Environmental Assessment (SEA) of the region, as well as the sustainable development indicator data of the municipal area in which the plant operated, the SII calculation procedure was applied to calculate the social impacts. As stated before it is not easy to generalise from case study research.However, the case studies showed that it is not possible to calculate all social midpoint category indicators, Table 11 Available project and social footprint information for the region of the fibres plant Intervent iona Nature of Jobs Project Information 250 employment opportunities lost (5% relocated = 12 ) Social Footprint Information eThekwini unemployment 591,024 eThekwini employment 782,933 Target To have everyone employed excluding people who prefer to be not economically active. Employable Community Work hours assuming all full-time employees 40 hours 49 weeks (3 weeks leave). Indirect Employment Destruction 750 (applying the rule of 3 used in SIAs) Work-hours lost due to injuries Disabling Injuries 475. 25 hours 6. Although social footprint information is available the definition of disabling injuries is not given and therefore information is not comparable. Not available Not available eThekwini Emissions 0. 488 kilo ton per annum 0. 111 kilo ton per annum 0. 005 kilo ton per annum 1,429,200 kilo litre per annum 54. 50 kilo ton per annum 54. 50 kilo ton per annum No information available eThekwini with water loss 168,090 ML without water loss 280,149 ML eThekwini 9098 GWh per ann um Not available Durban South Basin 45,000 ton per annum Not available GDP of Kwa Zulu Natal R 113,047 million Disabling Injury Rate (no per 200 000 hours) Health & Safety Incidents (Spillages) Atmospheric Emissions SO2 NOx VOC Water Usage 2. 375 0. 75 per annumEnergy Usage Solid elope frequent/Domestic Non-Hazardous Industrial Nature of Sales c 48. 384 GWh per annum 5. 25 x 10 m per annum 2. 575 x 10 m per annum b 1,545 tons per annum 2. 675 x 10 m per annum Annual turnover of R euchre million 0. 5 per annum 3 3 3 3 3 3 Stakeholder Complaints a b c Only those quantifiable social interventions for which plant and social footprint information is available, are used in the SII calculation procedure. The South African Department of Water Affairs and Forestrys lower limit requirements for waste density was used for the conversion. The South African Rand is equal to approximately 0. 12 Euros (as at the end of October 2005). Int J LCA 11 (1) 2006 13 Process Industry Social Sustainabili tyTable 12 Calculated Social Impact Indicators for the decommissioning of the fibres plant from the available case study information Area of Protection Internal Human Resources Intervent. Employment Creation Permanent Positions Energy Usage External Population Water Usage Waste a Generated Atmospheric Emissions (SO2 & NOx)b Macro Social Performance Stakeholder Participation Final Social Impact Value a b c Midpoint Category Permanent Positions Local Employment Availability of energy services Availability of water services Availability of waste services Comfort Level External Value of Purchases Intervent. Value 262 1,983,520 hrs 48. 384 GWh 1,429,200 kl 1 545 t 0. 65 kt SO2 eq. R 500 mil. Normalisation Value (Ts1) 7. 28 x 1007 3. 71 x 10 10 Significance Value (Cs/Ts) 0. 570 0. 570 1 1 1 Midpoint Indicator Value 1. 09 x 1004 4. 20 x 10 04 SII Value 1. 1 x1004 1. 1 x 1004 3. 57 x 10 09 5. 32 x 1003 5. 10 x 10 03 5. 47 x1004 2. 22 x 1005 2. 84 x 1002 7. 98 x 1006 3. 43 x 1002 1. 04 x 100 2 3. 99 x 1003 4. 0 x1003 a Nature of Salesc 1 No information available 5. 06 x10 02 Based on information available the units of equivalence have been changed to domestic waste generated in tons. Comfort level is measured quantitatively in kilo tons SO2 per annum using CML characterisation factors.The units of equivalence have been changed to contribution to GDP due to the information available. The South African Rand is equal to approximately 0. 12 Euros (as at the end of October 2005). Table 13 Calculated environmental Resource Impact Indicators for the decommissioning of the fibres plant from the available case study information Process Parameter (annual quantities) Waste Electricity used Coal Used Steam used Water used 1,545,000 kg 174,182,400 MJ 46,368,000 kg 354,960,000 kg 1,429,200,000 kg Resource Impact Indicator Water 7. 29 x 1002 7. 88 x 10 0 2. 60 x 10 7. 00 x 10 8. 84 x 10 4 4 5 bank line 2. 33 x 1006 1. 79 x 10 0 2. 51 x 10 0 1. 81 x10 +04 2 4 Land 4. 2 x 1002 1. 68 x 10 0 4. 41 0 1. 72 x 10 +02 2 Mined 0 8. 81 x 10 1 1. 67 x 102 1. 52 x 10 0 4. 07 x 10 +02 2 +05 either because of a lack of project information, or because of a lack of social footprint information. In addition, the units of equivalence cannot be indomitable since they depend on the available information. This complicates indicator comparisons between various projects. The limitation of available social footprint information results in the fact that only some midpoint category indicators are possible, i. e. permanent positions, water usage, energy usage, nature of sales, and comfort level, which leads to an impaired social picture.In addition, the midpoint category indicators for water usage, energy usage and comfort level are much high than permanent positions, thus resulting in a net negative social impact for any proposed development, which may not be a histrionics of the true social influence of the project or technology. 4 Conclusions and Recommendations sions of sustainab le development 29. The research therefore concludes that a quantitative social impact assessment method cannot be applied for project and technology life cycle management purposes in industry at present. It is emphasised that these conclusions were reached from a process LCA perspective, which is industry sector-wide.Research with a product LCA focus may lead to different outcomes. Although a comprehensive top-down approach was followed, a bottom-up approach may be more appropriate for product LCAs 30, as the selection of suitable criteria would be constrained to the specific scope of a LCA study. 4. 1 Further steps to quantify social impact indicators A case study independent analysis of available social footprint information in South Africa confirmed the main finding of this paper that social footprint information is not available for all midpoint categories 28. It is regarded as an international problem that current available statistics are incompetent of providing an integrated view of various dimen-It is proposed that social sustainability should be incorporated into project and technology life cycle management by means of guidelines and checklists. Similar to the environmental dimension, it is envisaged that such checklists and guidelines would improve the availability of quantitative data in time, and would therefore make the SII procedure more practical in the future. Although such guidelines and checklists have been developed from a theoretical perspective 28, practical guidelines and checklists from a project or technology life cycle management perspective are yet to be dem- 14 Int J LCA 11 (1) 2006 Social Sustainability onstrated. Further cases are subsequently required for demonstration and analysis purposes.While the guidelines and checklists may lead to a paradigm shift in industry towards obtaining and evaluating social impact-related information, it is also suggested that a lesscomprehensive list of social criteria is used as a starting point t o develop social LCA-specific methodologies, possibly using those midpoint category indicators that were quantifiable in the case studies of this research, i. e. permanent positions, water usage, energy usage, nature of sales, and comfort level, or other midpoint categories that are shortly proposed 30. However, social issues are highly influenced by cultural perceptions, and it would be exceed to undertake such a task at national level.National indicator sets can then be compared and combined on an international level. 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