...Sector Report Euler Hermes Economic Research CONSTRUCTION Sector Risk Rating What to Watch? Stronger than expected economic struggles in emerging markets, markedly for commodity exporters, leading to declining public investments Increasing interest rates weighing on firms’ capacity to repay debts and household purchasing decisions Rebound in public investment may support some infrastructure projects in Europe and China Structural growth will be shaped by a mix of divergent country trends Growth in the construction sector is set to remain slow with a +2.8% increase this year after +2.4% in 2015. Moreover it currently faces a major shift: production in emerging markets will grow in 2016 by only +3.4% vs. +7% over the last 10 years. Yet it will rebound in advanced economies with +2.2% vs. -0.7%. Construction Gross Output (real USD) 6 000 5 000 4 000 Structural weaknesses coupled with lasting price pressures mean the sector is still risky with a fairly negative outlook in most countries monitored. The sector remains mainly composed of small firms with very high leverage ratios, a weakness highlighted by longer payment terms compared to other sectors. More complexity is added into the mix by the effects of strong cyclicality and cross-country differences. Recovery in the UK has reached a plateau, while growth is negatively impacted in oil exporting countries as low oil prices put brakes on infrastructure investments. Prospects...
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...and magazines and television advertisements are constantly telling women how they too can be “beautiful” by selling them weight loss products, exercise programs, and other image enhancers. The constant exposure to the media’s version of beautiful is not something that is often thought of as negative. However, their portrayal of what is beautiful has become distorted over the years, to the point where achieving this “thin-ideal”, which will be defined later, is nearly impossible for women if done through healthy means. Because of this, many women develop body dissatisfaction, which can lead to serious and dangerous consequences, such as the development of eating disorders, in order to be “beautiful”. While there are many factors that can be linked to eating disorders, research has found that the media’s influence on society’s portrayal of extremely thin females as the ideal body is directly correlated to the increase in body dissatisfaction, eating disorders and other harmful conditions found in women. By analyzing this from a feminist perspective, it can be argued that not only does the media’s influence on the idealization of thinness effect females physical and mental health negatively, but it also acts as reinforcement for the patriarchal culture prevalent in today’s society. There is a wide range of eating disorders, ranging from minor to severe. Body dissatisfaction, which is “a psychiatric condition in which the affected person suffers from a flawed perception that views...
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...it is necessary to analyze the symbolic meaning of behavior and the inner workings of the mind. They agree that experiences in early childhood with the parents play an important role during development (Santrock, 2011, p. 22). According to Freud, development is sexual motivated and a child goes through five psychosexual stages: oral, anal, phallic, latency and genital. Freud believed when the need for pleasure at any stage was overly satisfied or not satisfied at all, resulted in psychological disorders (Santrock, 2011, p. 23). According to Erickson, development happens throughout life. His developmental theory has eight stages. These are: trust vs. mistrust, autonomy vs. shame, initiative vs. guilt, industry vs. inferiority, identity vs. identity confusion, intimacy vs. isolation, generativity vs. stagnation, and integrity vs. despair. At each stage individual is confronted with difficulties that needs to be resolved. Erickson believes these crises are characterized by both vulnerability and potential. As stated by Erickson the outcome of the crises determines the course of the development. The more failure an individual experiences during resolving a crisis, the more pressure he would put on him (Santrock, 2011, p. 23). The negative feelings during the crises might cause psychological disorders. According to Piaget’s cognitive developmental theory, children construct actively their understanding of the world and go through four stages of cognitive development: The sensorimotor...
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...Diploma vs. Associates vs. Bachelor Degree Nurses Louanne Adkins RN Grand Canyon University: Nursing History, Theories, and Conceptua... June 6, 2015 I have seen and experienced a wide variety of differences among the 3 types of degrees available, diploma vs. associates vs. bachelors. Myself, as a three year diploma nurse, I believe that I encountered more of a “hands on approach” to clinical skills versus the “book smart” bachelor approach versus the combination program of the associate’s degree. My diploma program started day one with patient interaction, from vital signs to baths. I discovered the bachelors program was mainly book work until the fourth year, at which time clinicals were initiated. The current trend and future of nursing is having a bachelor’s degree. I believe that this is due to the greater exposure to management skills on a daily basis that nurses now face. Previously there was a direct line from the doctors, who made the decisions, to the nurses that did as they were instructed. As the nursing processed evolved, nurses were empowered and started becoming a patient advocate, this came as a direct route of the education nurses received. Nurses have come to earn the respect of their coworkers and doctors that they have worked with. I had the experience of starting my first job out of nursing school on a med-surg floor on second shift with two other new grads. One was an associate degree grad while the other...
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...A COMPARISM OF HR POLICIES AND PRACTICES IN CHINA AND PAKISTAN INTRODUCTION The introduction of globalization has brought an awareness of the differences in partaking in business activities from one country to the other and from region to region. This is because policies and structures that guide the successful conduct of business activities vary. Human Resource is the most important asset for any organization as it is the source of achieving competitive advantage as well as the development of organisational strategy. In order to succeed, organisations must ensure that they have an effective HRM system in order to achieve organisational objectives. CHINA Name: Peoples Republic of China Population: 1.35 billion Capital: Beijing Largest City: shanghai Area: 9.6 million sq km (3.7 million sq miles) PAKISTAN Name: Islamic Republic of Pakistan Population: 176.7 million (UN, 2011) Capital: Islamabad Largest City: Karachi Area: 796,095 sq km (307,374 sq Major languages: Mandarin Chinese Major religions: Buddhism, Christianity, miles), excluding Pakistaniadministered Kashmir (83,716 sq km/32,323 sq miles) Major languages: English, Urdu, Punjabi, Sindhi, Pashto, Balochi Islam, Taoism Life expectancy: 72 years (men), 76 years (women) (UN) Monetary unit: 1 Renminbi (yuan) (Y) = Major religion: Islam 10 jiao = 100 fen; Life expectancy: 65 years (men), 67 years (women) (UN) CHINA Main exports: Manufactured goods...
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...000,000.00 Ps 2,000.00 /day Total Annual Regular Premium Annual Excess Premium (to be Billed Regularly) Total Annual Premium (to be Billed Regularly) Total Quarterly Premium to be Billed Excess Premium (One-time) Sun MaxiLink Prime is a variable life insurance product until age 88 payable for 10 years*. The living benefit is equal to the fund value, which is partially or fully withdrawable from the policy's share in the separate account(s). The death benefit is the higher of the sum of 200% of the face amount and the fund value or the minimum death benefit. The minimum death benefit is equal to 500% of the regular premium plus 125% of each paid excess premium, if any, less 125% of each partial withdrawal, if any. No other benefits are payable under this product. The policy is a variable contract. Only the face amount is guaranteed. The rest of the benefits, namely the fund value and the actual death benefit payable depend on the investment experience of separate account(s) linked to the policy. The investment risks associated with this product are borne solely by the...
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...1799 1799 ‘How are the concepts of culture and leadership linked?’ Introduction: This literature review will make use of four pieces of academic work to discuss how the concept of culture can intrinsically affect leadership. The literature finds that the link between culture and leadership is an important, yet complicated relationship. I will begin by discussing and defining the central concepts of culture and leadership. I will then explain and analyse the significance of culture upon leadership. Finally I will review Hofstede’s cultural framework to assess its significance and relevance to the topic at hand. Culture: To begin, culture is a phenomenon that carries multiple definitions. A simplistic view sees it as “how things are done around here”(Ouchi and Johnson, 1978 p.293). Culture can also encompass the behaviours, attitudes, norms, morals and unconscious values instilled within a group of individuals (Schien, 1985). Hofstede himself defines culture as the “collective mental programming” (Hofstede, 1980 pp.43) of individuals bound by some form of common orientation or geographical boundary. Culture shapes everything within society, and as an extension, leadership. Leadership is another interlinked concept, commonly defined as a relationship by which followers are influenced, and inherent changes are made towards a collective purpose (Daft and Lane, 2005). Moreover leadership refers to the “core set of traits, behaviours, skills, or characteristics that...
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...Glare from London 'fryscraper' blamed for melting cars Abstract The Legal rights and liabilities (torts) of the primary parties involved in the London’s Frying Skyscraper. The paper involves the Jag owner vs. Developer, Jag Owner vs. Designer, Developer vs. Designer and City vs. Developer and Designer. Questions that have been posed upon each case are what the parties will sue for and which torts? What evidence will they have on hand to prove their cases? And what legal evidence will the defendants offer? The Jag owner should sue the Developer for negligence because not only did he suffer damage to his vehicle, he failed to carry out a duty of care to ensure a safe building. The tort of negligence occurs when someone suffers injury because of another’s failure to live up to a required duty of care. The Plaintiff argues that the Defendant owed a duty of care to build a safe building that would not cause any damages and in this case he suffered a legally recognizable injury by proving there was in fact melting of his car. His car’s side panels had been warped along one side, while the wing mirror and Jaguar emblem melted, all of which has be documented by photographic evidence. Additionally, the developer should have notified the city to put up signs and request the parking spaces near the tower to be out of use. Also, by installing anti-glare film on the windows, replace the whole glazing panels or adjust the angle of the panes, would be carrying out a duty of care....
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...essentials. Therefore, three internal stakeholders that Dr. DoRight might have to deal with on a daily basis are Board of Trustees (shareholders), Employees, and his Regional Director of Compliance Manager and Executive Committee. Retrieved February 10, 2012 from http://www.allfreepapers.com/Business/Corporate-Governance-Ethical-Responsibility/22558.html. Additionally, three external stakeholders that Dr. DoRight might have to deal with on a daily basis consist of Patients, Numerous Community Organizations--Corporations, Government, and Local Community/Society. Retrieved February 10, 2013 from http://www.chegg.com/homework-help/questions-and-answers/2-compare-contrast-potential-conflicts-exist-duties-loyalty-owed-internal-stakeholder-vs-e-q2569829. 2. Compare and contrast potential conflicts of interest that may exist between the internal and external stakeholders. Dr. DoRight has managers in each department that he supervises and who work with him to address the needs of the various internal and external stakeholders of the hospital. However, He...
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...knowledge to policy and strategy development in situations facing general managers and business leaders. Emphasis will be placed on situational analysis, strategy formulation, and strategy execution at all levels of the organization. Course objectives 1. Understand Strategic Management as a process and be able to apply its principles to diverse business situations. (Linked to MBA’s Learning Goal #1. B) 2. Develop skills necessary to analyze the competitive situation facing various types of economic organizations; isolate important sources of competitive advantage and disadvantage; generate and make decisions among various strategy alternatives; plan for successful execution of selected strategies; and persuasively communicate these analyses and recommendations to others within the organization. (Linked to MBA’s Learning Goal #3. A, B, and C) 3. Gain experience with the case analysis method as applied to business situations. (Linked to MBA’s Learning Goal #3. C) 4. Gain experience working in teams to solve business problems. (Linked to MBA’s Learning Goal #5. A) Class policies Attendance: You will be expected to attend all classes. If you have a good reason you must miss class, please let me know. Excessive or unexcused absences will result in a reduction in grade. General 1. Varying points of view, constructively offered, are welcome and encouraged. Complexity and ambiguity are characteristic...
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...Economic Decisions Individuals and societies alike face many decisions. Individuals tend to make economic decisions when faced with trade-offs, and because of that, individuals are required to compare costs and benefits of their alternative actions referred to as the opportunity cost. Rational individuals tend to think of marginal change during the process of decision-making, and therefore, may respond differently to incentives whilst making economic decisions. This paper discusses the four principles of economics, a decision associated with marginal change, the incentive(s) that could lead to making different decision, and finally, how the principles of economics affect decision-making, interaction and the workings of the economy as whole. The Principles of Economics A trade-off is often referred to as the “technique of reducing or forgoing one or more desirable outcomes in exchange for increasing or obtaining other desirable outcomes to maximize the total return or effectiveness under given circumstances.” (BusinessDictionary.com, 2009) In brief, individuals choose something over something else, or give up something in order to get something else. Whatever “it” is that individuals sacrifice in order to get something, is generally “its” cost, and cost is often linked and associated with money, an opportunity cost however, could be the cost of anything i.e. time or health sacrificed in order to get something. Marginal changes are incremental adjustments individuals make...
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...Social Enterprise Description & Mission: Musoni Services is a microfinance software company that supports MFIs, SACCOs (credit cooperatives), and asset-financers in Africa with its cloud-based microfinance platform, the Musoni System. The System provides clients with the infrastructure they need to reduce costs, improve efficiency and drive financial inclusion into rural areas where the majority of the unbanked live. The company aims to fulfill its social mission of expanding financial inclusion to the 75% of individuals in Africa without any form of financial services, reducing poverty and improving the lives the unbanked. Trade-offs inherent in Musoni between social mission and financial returns: (1) Technology efficiency= lower quality/investment in distinctive client services and needs. * Since MF is an inherently expensive service to deliver, Musoni leverages innovative IT solutions by using technology to lower costs, reduce risk, and improve efficiency. Aside from core-banking functionality, their System is integrated with mobile money transfer providers (M-PESA etc.) enabling clients to send/receive funds over mobile phones. Musoni is the first cashless MFI in the world and uses mobile payments for all transactions. They’ve completely digitized loan officers field operations by using computer tablets to collect data. Musoni outsources fundraising services, initial advisory and management services, and IT Services (hosting, development). These efficiencies...
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...Holism vs. Reductionism Anusha Gujjula Wilmington University Abstract The paper clarifies about the Holism and Reductionism. In order to take care of issues, at first the issue has been derived later the elements of that specific system must to be planned. As indicated by Churchman, (1979) there is a wide range of methods to analyze the complicated systems. Holism is the strategy to speak to the enormous systems as entire. Techniques have their advantages and disadvantages (Verschuren, 2001). Critical thinking is exceptionally essential, however it is additionally an extremely misconstrued science. This is the initial step, yet generally overlooked. At the point when the system is not doing the fancied capacity, then the issue is distinguished in the system (Churchman, 1979). Table of Contents Holism Vs Reductionism…………………………………………………………………………4 Reductionism…………………………………………………………………………………...4 Holism……………………………………………………………………………………….…5 Advantages of Holism on Reductionsm…………………………………………………………..6 Need of Holism over Reductionism……………………………………………………………….7 Conclusion 7 References 8 Holism Vs Reductionism Holism is referred as an alternate approach for system thinking, it’s not only identify the parts, but also helps in understanding the evolution of new entities from the old entities. So, Holism is referred as a better approach than reductionism in terms of systems thinking. Reductionism helps in detecting the parts, identifying the working conditions...
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...UNIT LINKED INSURANCE PLAN (ULIP) Definition, Working principle, Comparison with Term Plan & Mutual Funds, Benefits & Shortcomings of ULIP, IRDA Guidelines of 2010 & their Impact, Summary DEFINITION * A Unit Linked Insurance Plan (ULIP) is a product offered by insurance companies that unlike a pure insurance policy gives investors the benefits of both insurance and investment under a single integrated plan. * This is an insurance policy that combines life insurance, with investing in the market. * As these investments in the market perform, the investor gets her returns. Several pension plans, child plans or retirement plans are actually ULIPs, in that they follow the same philosophy of investing money in the markets. HISTORY * The first ULIP was launched in India in 1971 by Unit Trust of India (UTI). * With the Government of India opening up the insurance sector to foreign investors in 2001 and the subsequent issue of major guidelines for ULIPs by the Insurance Regulatory and Development Authority (IRDA) in 2005, several insurance companies forayed into the ULIP business leading to an overabundance of ULIP schemes being launched to serve the investment needs of those looking to invest in an investment cum insurance product. WORKING PRINCIPLE * A ULIP is basically a combination of insurance as well as investment. * A part of the premium paid is utilized to provide insurance cover to the policy holder while the remaining portion...
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...Culture 1. Introduction to Culture 2. How culture affects managerial approaches 3. Trompenaar’s Cultural Dimensions 4. Geert Hofstede’s Cultural Dimensions 5. Cultural challenges when entering a new market 6. Pros and Cons of entering a new market with an adapted/standardized product 7. Characteristics of culture 8. Conclusion 9. Values in Culture 10. Value Similarities and Differences across cultures Introduction to Culture There is no doubt that the international marketing process do face a large set of variables as it take place over different countries and it does act in different environments. One of the most determinant environments to the success of the international marketing process is Culture, which hold the reason for many human acts and behavior. Reaching to that point international marketer should study deeply culture treaties of a country the company is planning to act in. so that special amendments in the organization overall plans and actions is made to act in accordance with the new market variables The role of culture in international business and marketing Culture is a distinctive element of international marketing. While factors besides culture are present, culture could be a key determinant of most overseas relationships. Researchers agree that exchange processes within business networks can only be understood by conducting studies in different countries and cultures. For example, studies...
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