Wednesday, November 27, 2019
Environmental Risk, Risk Management, and Risk Assessment
Our environment gets affected by various problems like climate change, biodiversity loss and natural resource use. All these have long-term consequences and long-term policy solutions are required to keep the environment safe. It is advisable to anticipate the circumstances lying ahead and get the picture of current, upcoming and underlying developments.Advertising We will write a custom essay sample on Environmental Risk, Risk Management, and Risk Assessment specifically for you for only $16.05 $11/page Learn More This will be helpful in making the up to date strategic decisions. A broad mind vision is required to tackle discontinuity and uncertainties of future developments and to plan vigorous policies that can survive in future (Scenarios and forward studies ââ¬â policy context, n.d.). The sustainable development policies which are being made at global, European, national or local levels have great concern for the future generations. Many interna tional conventions and protocols support the long term objectives to deal with the problems of environmental change (Scenarios and forward studies ââ¬â policy context, n.d.). There are two parts of Risk analysis- Risk Management and Risk Assessment (Ganoulis Simpson, 2006). Risk management is a process of decision making. It is the result of the risk analysis and risk evaluation (Greiving, n.d.). Before going further we should understand the meaning of risk. ââ¬Å"According to Merriam-Websterââ¬â¢s Dictionary, ââ¬Ëriskââ¬â¢ is defined as ââ¬Å"the possibility of loss of injuryâ⬠or ââ¬Å"someone or something that creates or suggests a hazardâ⬠(Stern, 2007). ââ¬Å"It is useful in making choices between a range of options and achieving the ââ¬Å"required outcome.â⬠There are many ways of determining the ââ¬Å"required outcomeâ⬠. It can be specified by legislation by way of environmental standards, may be determined by a formalized risk-cost-ben efit analysis or may be determined by another process for example ââ¬Å"industry normsâ⬠or ââ¬Å"good practiceâ⬠(Five step to risk assessment, n.d.). The aim should be reducing the risks to a certain ââ¬Å"acceptable levelâ⬠within the framework of the available resources (Scenarios and forward studies ââ¬â policy context, n.d.).A risk assessment is a right formula to protect any organization and its workers (Five step to risk assessment, n.d.).Advertising Looking for essay on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More Risk management and assessment approaches are being used for the solution of environmental issues and for this all the rules and regulations of the legislation are being followed (Chapter 2: The use of risk assessment in environmental management, n.d.). In the past few years, the approach to deal with environment has been more practical. It is being understood that risk assessme nt could be applied with the benefit of hindsight (Guidelines for Environmental Risk Assessment and Management, 2009). An appropriate arrangement system in place for the management and control of environmental matters is highly required by the legislation in the United Kingdom. To meet this requirement it is obligatory that the employers have a well-defined, properly documented and effective environmental management system. It depends on the organizations to adopt the most suitable system which can contribute to their constant improvement and progress (Environment, Health and Safety Committee Note on: Environmental Risk Assessment, n.d.). For environment protection there should be some set standards (How to comply with your Environmental Permit, n.d.). From the past few the need of risk management have been a matter of great concern (Flaherty Maki, 2004). Global warming is developing many environmental problems (Hendriks et al, 2005). By using the environmental management system or ganizations can ensure their legislative compliance as well as their commitment to environment related issues. By applying such system the standard in the management and control of environmental risks will be improved. This will help in decreasing the environmental incidents, insurance claims and downtime and costs (Environment, Health and Safety Committee Note on: Environmental Risk Assessment, n.d.). Environmental subjects are normally more clearer than socio-economic subjects (Smith et al, 2010). In the Environmental Protection Act 1990 environment is defined as it ââ¬Ëâ⬠¦ consists of all, or any, of the following media, namely the air, water and landââ¬â¢ (Environment, Health and Safety Committee Note on: Environmental Risk Assessment, n.d.).Advertising We will write a custom essay sample on Environmental Risk, Risk Management, and Risk Assessment specifically for you for only $16.05 $11/page Learn More ââ¬Å"So, the term environmental in cludes the physical surroundings like air, water, land, plants and wildlife that are common to everybodyâ⬠(ERASM, n.d.). ââ¬Å"In 1992, an industry management steering committee on Environmental Risk Assessment and Management has been created to increase top management awareness around European Risk Assessmentâ⬠(ERASM, n.d.). Environmental risk management comprises of the some key stages such as (Environment, Health and Safety Committee Note on: Environmental Risk Assessment, n.d.). Even environment risk assessment is required for the crops too (Planning Environmental Risk Assessment for Genetically Modified Crops, 2008). ââ¬Å"identification of hazard in which that situation or property is identified which could cause harm.. The estimation of the possible consequences includes presence of the hazard, the possibility of the receptors getting affected by the hazard and the consequential damage from exposure to the hazard. Risk assessment where the significance of the r isk is evaluated by estimating the severity of the consequencesâ⬠(Environment, Health and Safety Committee Note on: Environmental Risk Assessment, n.d.). ââ¬Å"In environmental assessment the concept of source- pathway- receptor is frequently used. The pathway between the source and the receptor is investigated in environmental risk assessment. The pathway is the connecting agent between the source and the receptor. It determines the consequences linked with the source and the receptor. This approach can be applied to many areas for example assessment of contaminated land. For achieving risk management certain steps like reducing or modifying the source, managing or breaking the pathway and/or modifying the receptor should be takenâ⬠(Environment, Health and Safety Committee Note on: Environmental Risk Assessment, n.d.).Environmental Risk Assessment gives the fundamentals of many legislative and regulatory programs (Environmental Risk, n.d.). Finally, the importance of the risk is assessed concerning environmental standard or other criterion as in legislation, statutory etc. (Environmental Risk Assessment, n.d.). Environmental risk assessment can be performed on various levels depending upon its priority and complexity (Environment, Health and Safety Committee Note on: Environmental Risk Assessment, n.d.). Environmental risk term is used extensively (Environmental Risk Scan, n.d.). Environmental risk assessment proves that one organizationââ¬â¢s products are safe for everyone (Environmental Risk Assessment, 2005).Advertising Looking for essay on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More We have become very much concerned with environmental risk issues as they put effect on us (Environmental Risk Advisors, n.d.). Environmental health risk assessment discourses human health concerns and ecological risks (Jafari et al, 2010). Environmental Legislations The chief reason to identify risks is to manage, reduce and remove them (Calow, 1998, p.4). There is an extensive range of environmental legislation and these are primarily obliged on the organizations. Though there is no single enabling Act which can bring all legislations related to environment together but they can be grouped under the following headings (Wrightson et al, 2008). Legislation for Pollution prevention and control The Environment Protection Act 1990(EPA) Part1 Institutes the principal of Integrated Pollution Control for those processes which pose a possibility for affecting the environment. The EPA aims at controlling releases into the environment as a whole (land, water, and air).It does not establishes different statutes or enforcement frameworks for each part of environment (Wrightson et al, 2008). Ecological risk assessment is also the part of environmental risk assessment (Ecological Risk Assessment, n.d.). Many approach whether qualitative or quantitative are being adopted for ecological risk assessment (Leung K.M.Y. Dudgeon, D. 2008). ââ¬Å"The processes are classified as Part A or Part B processes in The Environmental Protection (Prescribed Processes and Substances) Regulations made under the EPA. in England and Wales Part A processes cannot be operated without an authorization from the Environment Agency or in Scotland without authorization from the Scottish Environment Protection Agencyâ⬠(Wrightson et al, n.d.). ââ¬Å"Part B processes are dealt with in Air Pollution. Part 1 of the EPA is gradually being replaced by a system of Integrated Pollution Prevention and Control under the Pollution Prevention and Control Act 1999.The new scheme phased by the industry sect ors is more or less same as the present arrangements except for the requirement of an integrated permit for the functioning of some listed processes. This scheme will include a wider range of issues that are related to environment, health and safety for the site as a whole and not only sanctioning authorization to an individual processâ⬠(Wrightson et al, 2008). Legislation for Air Pollution ââ¬Å"Local Authority Air Pollution Control system was introduced by the EPA which establishes that Part B listed processes require an authorization from the Local Authority for their operations. The Clean Air Act 1993 which is also administered by the Local Authority has the right to control the release of dark smoke, grit and dustâ⬠(Wrightson et al, 2008). ââ¬Å"This Act prohibits the release of dark smoke from chimneys and also directs the length of the chimneysâ⬠(Wrightson et al, 2008). ââ¬Å"The smoke control areas can be declared and emission rate of grit and dust can b e put in limits by the Local Authorityâ⬠(Wrightson et al, 2008). The air pollution is becoming the cause of diseases like asthma, tuberculosis etc. giving warning to the health of the people (Environmental risk factors and prevalence of asthma, tuberculosis and jaundice in India, 2007). Legislation for Statutory Nuisances ââ¬Å"Statutory nuisances include the pollution created by smoke, dust, fumes, steam, odors and noiseâ⬠(Wrightson et al, 2008). ââ¬Å"The Local Authority has the right to serve abatement notices to check a statutory nuisanceâ⬠(Wrightson et al, 2008). ââ¬Å"On the other hand, an individual can also apply for an abatement order in the Magistrates Courtâ⬠(Wrightson et al, 2008). Legislation for Waste ââ¬Å"Part II of the EPA imposes duties on waste producers requiring them to stop anyone from depositing, treating or disposing of waste illegally; prevent the escape of waste; ensure that waste is transferred to (and by) an authorized person; and ensure that an accurate description of waste is provided when the waste is transferred and ensure that a transfer note is completed. A license is required by all people involved in the disposal, treatment or storage of waste under the EPA and the Waste Licensing Regulations 1994. The identification and management of hazardous wastes is covered under the Hazardous Waste Regulations2005â⬠(Wrightson et al, 2008). Legislation for Noise and Vibration Pollution ââ¬Å"If noise and vibration produced from a site is found to be harmful to health or is a nuisance in general comes under statutory nuisance. However, there is a range of more specific controls within other legislation including Part III of the Control of Pollution Act 1974, the Noise and Statutory Nuisance Act 1993, the Noise Act 1996, the Control of Noise (Codes of Practice for Construction and Open Sites) (England) Order 2002 and the Control of Noise (Codes of Practice for Construction and Open Sites)(Wales) Order 20 02â⬠(Wrightson et al, 2008). Legislation for Water Pollution ââ¬Å"The EPA, the Water Industry Act 1991 and the Water Resources Act 1991 are the main legislative requirements relating to the discharge of trade effluent and water pollutionâ⬠(Wrightson et al, 2008). ââ¬Å"It is an offence to discharge trade effluent either into controlled waters or a sewer. Consent has to be attained from the Environment Agency, in England and Wales, or the Scottish Environment Protection Agency in order to discharge trade effluent into controlled waters, and from the local sewage undertaker (Water Companies in England and Wales, Scottish Water in Scotland and Water Services in Northern Ireland) for discharge into sewersâ⬠(Wrightson et al, 2008). ââ¬Å"An integrated advancement towards the protection, improvement and sustainable use of the water environment is endorsed by the Water Framework Directive (2000/60/EC). The implementation of these Regulations will identify the hazardou s substance discharges which should be ceased and the use of which should be brought to an end by 2020. The anticipated EU Groundwater Daughter Directive will commence the precautionary approach to put a stop to pollution and this will need to be addressed by the UK in future. Other regulations will also be introduced in due course to establish and implement river basin districts under the requirements of the Directive. The magistrates are given powers to increase fines and stronger powers are given to the Drinking Water Inspectorate by the Water Act 2003â⬠(Wrightson et al, 2008). ââ¬Å"The Food and Environment Protection Act 1985, Part II makes it mandatory to acquire a license from the Department for the Environment, Food and Rural Affairs (DEFRA) for the dumping of substances or articles at sea or under the seabedâ⬠(Wrightson et al, 2008). Legislation for Food, Pesticides and Chemicals ââ¬Å"The Food and Environmental Protection Act (FEPA), provides controls to redu ce the risk of contamination of food in the environment. ââ¬Å"Part I of the Act gives Ministers the power to make emergency orders to prevent hazards to human healthâ⬠(Wrightson et al, 2008.) ââ¬Å"Part III of the FEPA deals with both the control of pesticides and the issuing of codes of practice relating to the use of pesticides. The Control of Pesticides Regulations 1986 made under FEPA gave a legal basis to the former Pesticides Safety Precautions Scheme for the approval of new and existing pesticides. The packaging, labeling, transport, storage and use of chemicals are covered in a number of sets of Regulations made under HSWA. Some of these Regulations include environmental issues, notably the Control of Major Accident Hazards Regulations 1999 (COMAH)â⬠(Wrightson et al, 2008.). Legislation for Recovery of Packaging Waste The Environment Act 1995, poses a range of Regulations on the implementation the Packaging Waste Directive. ââ¬Å"The Producer Responsibility O bligation (Packaging Waste) Regulations 1997 and succeeding amendments set targets for the recovery and recycling of various types packaging wasteâ⬠(Wrightson et al, n.d.). ââ¬Å"The Packaging (Essential Requirements) Regulations 1998 necessitate that the packaging volume and weight be limited to the minimum sufficient amount to maintain the necessary level of safety, hygiene and acceptance for the packed product and for the consumer. The concentration of lead, cadmium, mercury and hexavalent chromium in packaging is also limitedâ⬠(Wrightson et al, 2008.). Legislation for health and Safety at work is also made to deal with health and safety issues with the people who are working (Health and Safety at Work etc Act 1974, n.d.). Liabilities Most environmental legislation imposes duties on organizations. However, under the Environmental Protection Act 1990 (EPA), the Water Resources Act 1991 and the Clean Air Act 1993duties can be imposed on Directors of organizations. This requirement relates to the most senior level of management who are, in effect, part of the ââ¬Å"directing mindâ⬠of an organization and, therefore, control it (Wrightson et al, 2008.). Now if we assess the environmental risk in any organization, before that we will have to understand that an organizationââ¬â¢s financial reputation can be affected badly due to environmental risk. It can very badly affect the financial performance, brand and reputation of an organization (Environmental, 2011). Now-a-days are UK organizations are in better position to prevent pollution which have been possible through physical control. Still, some organizations may come to know later that their insurance policies are not much beneficial in any environmental damage or the managers of the organizations are not much aware of any damage. It is very important for an organization to know about some environmental risk related issues as discussed following (Environmental, 2011): If the organization knows all about environmental risks If the organization is aware of all insurance policies If the organization is aware of new responsibilities related to environmental risk If the organization has evaluated the insurance cost CEFIC: it is a chemical industry and based in Brussels. It is known as European Chemical Industry Council (ERASM, n.d.). CEFIC understands environmental and human health effects. It is stick to use safe modes for chemical substances and follows the rules of EU and global legislation made for such uses. The EU rules and regulations came into existence in June 2007 to make safe use of chemical substances and Cefic is following those rules since then. Cefic is constantly participating in environmental and health issues and it is willing for a constant integrated approach for making policies. Cefic not only abides by the rules and regulations of legislation but also promises to improve its chemical management. That is why it takes deliberate initiatives and foll ows some specific action programs (Environment Health, n.d). ââ¬Å"Cefic is a partner in the Integrated Assessment of Health Risks of Environmental Stressors in Europe (INTARESE), a five-year EU-funded project that aims to provide methods and tools for the integrated risk assessment of health risks from environmental factors such as air quality, water pollution and climate change. Through Research and workshops funded by its Long-range Research initiative (LRI), Cefic is contributing to the development of new methods of integrated risk assessment and tools aimed at better understanding the concept of dose, exposure and riskâ⬠(Environment Health, n.d, Para 6). Managing Water Quality: The Water Framework Directive is now being implemented to get positive results by 2015 (How to Protect and manage Europeââ¬â¢s Water, n.d.). Cefic is also trying to maintain the standards set by the Water Framework Directive for water protection and management. ââ¬Å"The establishment of str ict limits for 33 substances ranked as priority substances (Environmental Quality Standards, EQS) should be done through transparent selection processes, which continue to follow a risk-based approachâ⬠(How to Protect and manage Europeââ¬â¢s Water, n.d.). Cefic is doing its best to contribute in conscripting water guidelines. ââ¬Å"This Directive is a living exerciseâ⬠(How to Protect and manage Europeââ¬â¢s Water, n.d.). ââ¬Å"The PHS list is to be reviewed at least every four years. Cefic is, for example, a member of an electronic forum designed to exchange the most recent scientific information on the water issueâ⬠(How to Protect and manage Europeââ¬â¢s Water, n.d.). ââ¬Å"Cefic has also contributed to the creation of guidelines for the mixing zones in the vicinity of point source discharges in those parts of the water body where EQSD cannot be met, due to the high levels of pollutants in the effluentsâ⬠(How to Protect and manage Europeââ¬â¢s Water, n.d.). Except all these environmental issues Cefic is very much concerned with air pollution too and for that reason it is taking extra care to deal with any issue related to air pollution (How can we ensure cleaner air for Europe, n.d.). The Hyelm Group The Hyelm Group provides elevated standards of accommodation, services and amenities for people coming to or staying in London to work or study (The Hyelm Group, 2011). The group offers good, homely environment to Londonââ¬â¢s key workers and young people. The accommodations are affordable by the people having low to moderate income (The Hyelm Group, 2009). It is a non-profit organization that is committed to offer better accommodation, services and facilities to its clients and constantly developing and spreading out the same to fulfill the increasing and changing requirements of the clients (The Hyelm Group, 2009). For being a successful organization not only internal but also external environment should be taken care o f (What Is The Impact Of External Environment In A Organization, Give The Latest Examples?,n.d.). In the year 2003 Envex started working with Hyelm to manage their legionella risk and there after helped them in implementing a comprehensive health and safety management system. Modified Health Safety Policies procedures were developed on the basis of the findings of the risk audit. It is ensured that policies stay up to date and also reviewed time to time and update tenantsââ¬â¢ handbooks on health and safety issues (Envex Clients and Case studies, 2011). To meet the requirements of The Regulatory Reform (Fire Safety) Order 2005; fire risk assessments were periodically reviewed with updated management action plans. It also provided training to fire wardens and general staff on fire safety and was reviewed by Fire Brigade with positive comments. Legionella risk assessments with a written scheme for the present management. Thereafter these risk were reviewed in-line with the Approv ed Code of Practice L8.It also provided periodic oversight of contractors as well as provided guidance on contract specifications so that the Groupââ¬â¢s needs were met satisfactorily. Conducting COSHH Manual Handling risk assessments for housekeeping staff.Risk assessments on key risk areas e.g. running a residentââ¬â¢s bar parties for residents was also conducted.Use of high level terraces by residents e.g. slips trips, falls, BBQs, security, safety of the public below.Falls from windows using the Housing HS Rating System (Envex Clients and Case studies, 2011). Contractor management systems including Permit to Work and other safe systems of work to make sure that risk is properly managed and to ensure best value is delivered at the required safety standard e.g. Legionella, cleaning, kitchen/catering provision. Guidance is provided on stress policies and the HSEââ¬â¢s stress management initiatives to avoid stress at work place. The delivery of a broad- spectrum of bespo ke HS Training: including General HS for Managers, Principles and Practice of Risk Assessment for Duty Managers, General HS for staff, Manual Handling training for staff, Legionella Responsible Person, DSE awareness and Fire Safety (Envex Clients and Case studies, 2011). Source: The OECD Environmental Risk Assessment Toolkit: Tools for Environmental Risk Assessment and Management, http://www.oecd.org/document/54/0,3746,en_2649_34373_44909430_1_1_1_1,00.html Hatsu Marine Ltd: The above said two companies are already following all the rules and regulations made for environmental risk. One more company Hatsu Marine is also committed to apply all the rules and regulation made for environmental risk responsible and that is why company has achieved the certification of ISO 14001 Environmental Management System for quality ships and well trained crews. After getting ISO 14000 in 2004 Hatsu announced that this ââ¬Å"accreditation reduces the risk of environmental incidents which may bring with them pollution and significant legal and recovery costs. It also demonstrates to regulatory authorities that the company is proactive in reducing pollution risks and is committed to upgrading its systems on a continuous basis. This should also reduce the likelihood of delays due to port inspections, as companies holding this accreditation are less likely to be targeted for environmental inspectionsâ⬠(Hatsu Marine Ltd achieves ISO 14000/EMS accreditation, 2004). Hatsu believes that according to estimation ââ¬Å"every year more than 2 million sea birds and 100,000 marine mammals die from waste materials discarded by humans. Rain forests, home to many precious species, are shrinking at an alarming rate of 10 million hectare per year. In view of this depletion of natural resources and exploitation of the environment, governments and protection groups have been calling the worldââ¬â¢s attention to these serious problems. They are also trying to stop the worsening situatio n through binding agreements and regulationsâ⬠(Hatsu Marine Scoops Coveted Queenââ¬â¢s Award for Enterprise, 2006). Hatsu has presented its new S-Class ships and it has successfully met with all the regulations whether national or international made for marine environment. ââ¬Å"It incorporates double-skinned hulls and fuel tanks located within the transverse bulkhead spaces, thus minimizing the risk of oil pollution or fire as a result of grounding or collision. They also feature ââ¬Ëcold-ironingââ¬â¢, or the ability to shut down all shipboard generators while in port and switch to shore-based electricity suppliesâ⬠(Hatsu Marine Scoops Coveted Queenââ¬â¢s Award for Enterprise, 2006). Hatsu has positively accepted all the rules made by UK legislation for water safety and pollution by designing its ships in that way and by training its staff moderately. The accreditation received by the company shows that it is very much concerned with the environment safety and trying to develop its all strategies to save the environment in all the ways. Reference List Calow, P. 1998. ââ¬Å"Handbook of environmental risk assessment and management.â⬠Wiley Blackwell. London. P.590 ââ¬Å"Chapter 2: The use of risk assessment in environmental managementâ⬠n.d. Europeanà Environment Agency. [Online] Available from: http://www.eea.europa.eu/publications/GH-07-97-595-EN-C2/chapter2h.html . ââ¬Å"Ecological Risk Assessment.â⬠n.d. UNEP/IPCS Training Module No. 3. Section C. [Online] Available from:http://www.chem.unep.ch/irptc/publications/riskasse/c2text.pdf . ââ¬Å"Envex Clients and Case Studies.â⬠2011.Envex. [Online] Available from: http://www.envexconsultants.co.uk/2-clients-casestudies.html . ââ¬Å"Environmental.â⬠2011. Marsh. [Online] Available from: http://uk.marsh.com/RiskIssues/EnvironmentalRisk.aspx . ââ¬Å"Environment Health.â⬠n.d.Cefic. The European Chemical Industry Council. [Online] Available from: http: //www.cefic.org/Policy-Centre/Environmentââ¬âhealth/ . ââ¬Å"Environment, Health and Safety Committee Note on: Environmental Risk Assessment.â⬠n.d. RSC.[Online] Available from http://www.rsc.org/images/Env%20Responsibilities%20Note%20170206%20Formatted_tcm18-97944.pdf . ââ¬Å"Environmental Risk Advisors.â⬠n.d. [Online] Available from: http://environmentalrisk.org/ . ââ¬Å"Environmental Risk Assessmentâ⬠n.d. Business Link. [Online] Available from: http://www.businesslink.gov.uk/bdotg/action/detail?itemId=1079404392type=RESOURCES. ââ¬Å"Environmental Risk Assessment.â⬠2005. Science in the box. [Online] Available from: http://www.scienceinthebox.com/en_UK/safety/riskassenv_en.html . ââ¬Å"Environmental risk factors and prevalence of asthma, tuberculosis and jaundice in India.â⬠2007.InderScience Publishers. [Online] Available from: http://www.inderscience.com/search/index.php?action=recordrec_id=14633 . ââ¬Å"Environmental Risk. Financial Infos Is sue (7).â⬠n.d. Central Bank of Egypt. [Online] Available from: http://www.ebi.gov.eg/downloads/Environmental%20Risk%20Info%20English%205.pdf . ââ¬Å"Environmental Risk Scanâ⬠, n.d. Resource and Trainers Guide Book. [Online] Available from: http://adfiap.org/wp-content/uploads/2009/10/Resource-Trainers-Guidebook-Environmental-Risk-Scan.pdf . ââ¬Å"ERASM.â⬠n.d.[Online] http://www.erasm.org/about.htm . ââ¬Å"Five steps to risk assessment.â⬠n.d. HSE. [Online] Available from: http://www.hse.gov.uk/risk/fivesteps.htm . Flaherty J. Maki,T. 2004. ââ¬Å"Enterprise Risk Management- Integrated Framework.â⬠[Online] Available from: http://www.coso.org/documents/COSO_ERM_ExecutiveSummary.pdf . Ganoulis, J. Simpson, L.2006. ââ¬Å"Environmental Risk assessment and Management: Promoting Security in the Middle East And the Meditteranean Region.â⬠Report of the Working Group on Environmental Risk Assessment and Management. [Online] Available from: http://www.inw eb.gr/files/Papers/Environmental%20Risk%20Assessment%20%20Management%20-%20Promoting%20Security%20in%20the%20Middle%20East%20%20the%20Mediterranean%20Region%20(2006).pdf . Greiving, S. n.d.. ââ¬Å"Risk Assessment and Management as an Important Tool for the EU Strategic Environmental Assessmentâ⬠DISP. [Online] Available from: www.nsl.ethz.ch/index.php/de/content/download/921/5697/file . ââ¬Å"Guidelines for Environmental Risk Assessment and Management.â⬠2009, Defra. [Online] Available from: http://archive.defra.gov.uk/environment/quality/risk/eramguide/01.htm . ââ¬Å"Hatsu Marine Ltd achieves ISO 14000/EMS accreditation.â⬠2004. Evergreen Marineà (UK) Ltd. [Online] Available from: http://www.evergreen-marine.co.uk/tuf1/jsp/TUF1_Html.jsp?page=TBN1_040407.htm . ââ¬Å"Hatsu Marine Scoops Coveted Queenââ¬â¢s Award for Enterprise.â⬠2006. Evergreen Marineà (UK) Ltd. [Online] Available from: http://www.evergreen-marine.co.uk/tuf1/jsp/TUF1_Html.jsp?page=TBN1 _060421.htm . ââ¬Å"Health and Safety at Work etc. Act 1974.â⬠n.d.HSE. [Online] Available from:http://www.hse.gov.uk/legislation/hswa.htm . Hendriks et al, 2005. ââ¬Å"Impacts of EU and International Law on the implementation of Carbon capture and geological stores in the European Unionâ⬠FIELD. [Online] Available from: http://pdf.wri.org/ccs_impact_of_eu_law_on.pdf . ââ¬Å"How to comply with your Environmental Permit (EPR 1.00)â⬠n.d. Environment Agency. [Online] Available from: http://publications.environment-agency.gov.uk/pdf/GEHO0411BTSP-e-e.pdf . ââ¬Å"How can we ensure cleaner air for Europe.â⬠n.d. Cefic. The European Chemical Industry Council. [Online] Available from: http://www.cefic.org/Policy-Centre/Environmentââ¬âhealth/Air/ . ââ¬Å"How to protect and manage Europeââ¬â¢s Water.â⬠n.d. Cefic. The European Chemical Industry Council. [Online] Available from: http://www.cefic.org/Policy-Centre/Environmentââ¬âhealth/Water/ . Jafari, J et al. 2010. ââ¬Å"Application of Raster Images in Computing Environmental Risk Assessment (ERA) of Pipelines.â⬠World Applied Sciences Journal 9 (10: 91-100). [Online] Available from: http://www.idosi.org/wasj/wasj9(1)/15.pdf . Leung, K.M.Y. and Dudgeon, D. 2008. ââ¬Å"Ecological risk assessment and management of exotic organisms associated with aquaculture activities.â⬠In M.G. Bondad-Reantaso, J.R.Arthur and R.P. Subasinghe (eds). Understanding and applying risk analysis in aquaculture.FAO Fisheries and Aquaculture Technical Paper. No. 519. Rome, FAO. pp. 67ââ¬â100.[Online] Available from: ftp://ftp.fao.org/docrep/fao/011/i0490e/i0490e01e.pdf . ââ¬Å"Planning Environmental Risk Assessment for Genetically Modified Crops.â⬠2008.à FBAE. [Online] Available from: http://www.fbae.org/2009/FBAE/website/biosafety_planning.html . ââ¬Å"Scenarios and forward studies ââ¬â policy context.â⬠n.d.. European Environment Agency. [Online] Available from: http:/ /www.eea.europa.eu/themes/scenarios/scenarios-and-forward-studies-policy-context . Smith et al, 2010, ââ¬Å"Towards a more efficient and effective use of Strategic Environmental Assessment and Sustainability Appraisal in spatial planningâ⬠. Department for Communities and Local Government. [Online] Available from: http://www.communities.gov.uk/publications/planningandbuilding/towardsmoreefficient . Stern, Z. 2007. ââ¬Å"What is environmental risk.â⬠Environmental Justice Product.[Online] Available from: http://soa.utexas.edu/work/eaejp/Papers/What%20is%20Environmental%20Risk.pdf.html . ââ¬Å"The Hyelm Group.â⬠n.d.Hyelm. [Online] Available from: http://www.hyelm.com/home/ . ââ¬Å"The Hyelm Group.â⬠2011. Hyelm. [Online] Available from: http://www.cylex- uk.co.uk/company/the-hyelm-group-15969713.html . ââ¬Å"The OECD Environmental Risk Assessment Toolkit: Tools for Environmental Risk Assessment and Management.â⬠n.d. OECD. [Online] Available from: http:// www.oecd.org/document/54/0,3746,en_2649_34373_44909430_1_1_1_1,00 . ââ¬Å"What Is The Impact Of External Environment In A Organization, Give The Latest Examples?â⬠,n.d.Blurtit. [Online] Available from: http://www.blurtit.com/q244496.html . Wrightson et al. 2008. ââ¬Å"Environment, Health and Safety Committee Note On: Individual Legal and Ethical Responsibilities for Environmental Safety.â⬠RSC.[Online] Available from: http://www.rsc.org/images/Environmental_Risk_Assessment_tcm18-122341.pdf . This essay on Environmental Risk, Risk Management, and Risk Assessment was written and submitted by user Kallie Riggs to help you with your own studies. You are free to use it for research and reference purposes in order to write your own paper; however, you must cite it accordingly. You can donate your paper here.
Sunday, November 24, 2019
Assignment F m Essays - Articles, Education, Educational Psychology
Assignment F m Essays - Articles, Education, Educational Psychology Name: Mitesh Kumar Solanki Module: PMILSC Assignment F "TED ED the way to improve the language skills" Description TED EDis a combined presentation video on current topics and events. The full form of TED is technology, entertainment and design. It was first launched in the year 1984 by Richard Saul Wurmans and Harry Marks ( Elk 2014). Today most of the UK universities added ted talk activities in their courses so students could expand their knowledge and also develop their language skills ( Writer, 2014). I am a student of pre master at UNIC. We have four modules in our whole pre master course among the four modules the most important module is ILSC and the whole module is based on developing the listening and writing skills in English language. Academic listening is one of the assignments on this module which was assignment and TED ED was used as independent online listening practice. In the assignment E the lecturer played a ted talk video and the presenter of the video was Dr.Zieng after watching the video we had to write summary and critical evaluation of it. I never had an online lear ning experience in my past studies. Therefor to achieve high grades we performed TED ED activities at home which was available on the module, the only thing we had to do was that we had to access the module and then we had do the TED ED activity. It was so easy i never thought that online learning is this much easier than theoretical learning and i experienced that TED ED activities are effective way to develop our English language skills such as listening skills ,writing skills and motivates us to think critically. Critical Evaluation and Analysis The language use in ted talk is English language. Therefore it's a major benefit for the students to develop their English language skills. In my past life I never heard about the ted talk. We had lot of TED ED activities in the ILSC modules for that I want to give thanks to her because if she didn't includes the TED ED activities in our module then I could never understand the importance of English language skills in my life. TED ED activities were an online activity which was categorised into two stages so students can easily understand that what they have to do. The first stage was held in the classroom in which we received a short brief about what is TED ED and what are the benefits of it and also how to do TED ED activity in effective manner to which will help in developing our writing and listening skills. The second stage was TED ED homework which was uploaded on the module. Module is a website of the unic where students can login with their id and can get information about their module and also can do and submit their home activities and assignments on it. Therefore in the second stage we had to access on the module and then we had to watch and listen carefully the ted talk video which was uploaded by the lecturer and after that we had to write critical evaluation of the video and also we had to read and comments on others critical evaluation. Ted ed activity was an good experience for me because it was an online activity which was benefit for me to do complete the activity at any time and also this activity developed my knowledge towards online learning. The biggest problem which I faced in the whole activity was accent problem because we all know that English is most spoken language in this world and every country people have different English accent and in ted talk it includes presenter from all over the world therefore it was challenge for me to understand clearly what the presenter is saying. Action plan In the end I can confidently say that ted talk activity helps me a lot in improving my listening ,speaking and critical thinking skills of English language and also improve my knowledge on some topics such as diversity in workplace and to overcome form from the accent problem I will carry out the ted talk activity for future benefits
Thursday, November 21, 2019
All forms of government welfare should be abolished Essay - 2
All forms of government welfare should be abolished - Essay Example There are many ways through which this facility provided by the government is being abused even though there have been protections placed and filtering has been initiated in the recent times. A great example of abusing this facility is when mothers give birth to children just so that they can surplus the amount they receive from the government which increases their welfare checks. There are many perspectives from which we can view this, firstly women who give birth to babies considering it to be attractive as they get the charm of spending the money on themselves. Secondly, those women who bore many children and are dependent on aid are considered to be a bad choice. This is one of the biggest problems with our prevailing system; this is the charm which encourages women to become pregnant as it brings a raise of amount in their welfare money each month, which becomes a very good amount annually. Thus these benefits provided by the government are being brutally abused when the money t hat is provided by government is not used to nurture the infant born. This greed does not end here but continues when such mothers who give birth on a constant pace and are completely relying on the aid provided by the government to sustain their living. This system was developed to help the people who are in need but now it has been adopted by many individuals who cannot get over the addiction of free income. This develops a negative approach as well which encourages such people not to look for work opportunities. as that would deprive them from their free earning. The purpose behind establishing welfare aid programs was to help the needy during their difficult times not to generate lifelong income. (Segal, 10) The government has particularly made these welfare systems very engaging, they act as a catalyst in stopping people from work who were initially motivated and self-dependent. This system will continue till the time those people who are unemployed become motivated to earn the ir own living than being dependent on the government programs. This system is merely a curse which restricts people from hard work and physical labor and eventually sucks the money out of the hardworking people. Why such programs are a risk to progress? One of the many reasons why the government should stop such welfare programs as the requirements that are set on checks are cause immense strain on the government programs that are merely for the working class. The major and the most precise example of this is the social security. The money that is being used by such welfare prog
Wednesday, November 20, 2019
MECHANISMS FOR EVALUATING FINANCIAL HEALTH OF HEALTH CARE Essay - 1
MECHANISMS FOR EVALUATING FINANCIAL HEALTH OF HEALTH CARE ORGANIZATIONS CS - Essay Example The total revenue for Pearland Medical Center reduced by $250,000,000 in the year 2013, compared to the revenue the firm had generated in the year 2012. At the same time, the operating expenses reduced by $200,000,000, which means that the net income of Pearland Medical Center reduced by $50,000,000 between the two years. The net revenue for 2012 and 2013 was $915,000,000 and $865,000,000 respectively. On the other hand, the total profit for the same period was $965,000,000 and $915,000,000 for 2012 and 2013 respectively. The cash flow of the Medical Center was equal to the total profit of the company since the inflow of the business was only through revenue and the cash outflow was through marketing, operating, research and education expenses. However, sinceBut depreciation is a non-cash flow item in this scenario, it should be used to establish the total profit and the net cash flow of Pearland Medical Center (Fridson & Alvarez, 2011). The profit margin measures how much every dollar revenue a firm keeps in its earnings (Albrecht & Albrecht, 2008). The total profit margin of the firm stood at 69% and 61% in 2013 and 2012 respectively. This means that the firm realized a net percentage of $0.69 and $0.61 for every dollar of sales. This showed that Pearland Medical Centerââ¬â¢s ability to control its expenses, improved in 2013 as compared to 2012, and it is attributed to a reduction in operating expenses by $200,000,000. On the other hand, the total profit margin, excluding grants and investments, stood at 59% and 48% in 2013 and 2012 respectively. This implied that the firmââ¬â¢s earnings from every dollar it had invested reduced to 0.59 and 0.48 per dollar as a result of the exclusion of grants and investment in its revenue. Based on the income statement report, the firms financial health is not badly off because Pearland medical center made some positive returns from its investments. But if they are
Sunday, November 17, 2019
Children's Language Acquisition - Nature vs Nurture Essay
Children's Language Acquisition - Nature vs Nurture - Essay Example vocabulary extends beyond the basics, they are able to think for themselves and further develop their language skills through expression (Unsworth, 2013). It has been found that nature gives children the ability to acquire language but it does not give them the language itself because the latter is an aspect of humanity which develops due to nurture. It is for this reason that most of the children who are born in one culture can easily adapt to another culture and language as long as they are still young enough to adjust to their new environment. It is normally the environment in which a child is raised that determines his or her rate of language acquisition, so that there are some who acquire it much earlier than others. Thus, one would suggest that nurture plays a more significant role in the language acquisition of children than nature because while the latter facilitates the development of the parts necessary for speech, it is nurture which enables the development and advancement of the skills required for the sake of language acquisition. While speech is a natural part of human beings, language is based on nurture and it is mainly the language that is spoken in the environment that children are raised in that they are able to acquire it. The influence of biological, social and cultural factors have been said to affect the shaping of the different aspects of language acquisition among children. It is a fact that both nature and nurture played a role in language acquisition, the latter hiving existed for almost as long as the human race has existed and it is quite possible that they will continue to exist in the foreseeable future. The acquisition of language among children is a basic part of their daily lives and is manifested within the society by observable factors within the environment that they grow. Thus, children are normally able to acquire language through their interaction with older members of their society and this is normally done in such a manner
Friday, November 15, 2019
Reflective Essay On Pressure Sore Nursing Essay
Reflective Essay On Pressure Sore Nursing Essay My aim of this essay is to reflect on my learning outcome pressure sore care and management. Pressure sores also known as decubitus ulcers. Benbow (2006) defines it as areas of localized tissue damage as a result of excess pressure, shearing or friction forces. To reflect on my learning process, I am going to apply Gibbs reflective model, which is a renowned model in reflective practice. This model requires passing through six stages to complete one reflective cycle. These six stages are description, feelings, analysis, evaluation, conclusion and action plan and I am going to explore in these six steps how I achieved my learning outcome. In the first stage of Gibbs reflective model (1988) I will describe the event which inspired me to get competent in pressure sore management. My placement area was a nursing home setting where almost all service users are old age people who are prone to get pressure sores so I had seen many pressure ulcers. However, one particular service user whose pressure wound I will never forget. I will address her as Mrs. N to maintain her confidentiality (NMC 2008). She is an 86 yr old, suffering from dementia and doubly incontinence. She had a big, black and hard wound on her right hip. The skin was intact but it was extremely discolored. According to EPUAP (European Pressure Ulcer Advisory Panel) guidelines, it was grade 4 pressure wound as there were full thickness skin loss and it was covered by necrotic tissues. It was getting foul smell and the wound started to debride from the sides in a few days. The second stage of Gibbs reflective cycle requires me to reflect on my feeling for the event. It was my first day in that unit and I went with a nurse in Mrs. Ns room where she was going to do her pressure wound dressing. I had no idea about her wounds grade. I started to assist the nurse and as she opened the dressing I was shocked. I did read the description and seen pictures for grade 4 pressure wound (EPUAP guide to pressure ulcer grading) but never seen it in my past practice so it was absolutely shocking for me. I felt very disgusted. I tried to put myself in her place and when the nurse was touching her wound I was feeling like its happening to me but the most tragic thing for Mrs. N was that she was not able to express her pain as a result of her dementia. The study conducted by Bale s., C. Dealey et al (2007) had found shocking revelations about the effect of pressure ulcers, amount of pain and its effect on a patients life. I was thinking what could be the reason behind it . Is it our negligence or something else for what patient was suffering? Third stage of Gibbs reflective model needs reflector evaluates the event. According to NICE guidelines, a patient who is at risk of developing a pressure ulcer should be assessed within 6 hours of admission (NICE 2003). While in Mrs. Ns case she has been in the nursing home for a long time so her assessment should have been ongoing as she was prone to develop it. The other thing I evaluate was that nurse remains very busy during her shifts so she relies on support staff regarding the patients condition so there are chances that nurses missed to assess Mrs. N for pressure sore on regular interval. According to Mockridge and Antony (1999), the nurse must have basic knowledge of pressure ulcer prevention, healing and treatment to avoid the occurrence and discomfort. There are many risk assessment tools to assess patient for pressure ulcer development which I have been familiar during my learning process. These scales known as Norton scale, Waterlow scale and Branden scale (Norton et al . 1985, Branden and Bergstrom 1987, Waterlow 1991 and 1998). It could have been possible to prevent Mrs. N from getting that worse ulcer by carrying out assessment based on one of these scales. Analysis is the fourth stage of Gibbs reflective model (1988). My knowledge about the pressure sore care and management was very limited. According to the code (NMC 2008) you must take part in appropriate learning and practice activities that maintain and develop your competence and performance. I decide to get competent in pressure sore care and management as I am going to be a qualified nurse I should have the knowledge and skill to practice safe (NMC2008). I analyzed from this event that first step to become competent in this skill is to learn a proper risk assessment skill using one of the risk assessment tools because prevention is always better than cure. To justify this, during my learning process I carried out some assessment on service users who were vulnerable. I used Waterlow scale (Waterlow, 1998). This assessment helped me to classify ulcer. The classification of wound helps to determine the most effective treatment (Daugherty and Lister, 2008). The next aim should be to minimize the pressure on pressure area. To apply this in my placement area I followed NICE guidelines which suggested that there must be a position changing schedule (NICE 2003). Thus, I participate with my team and we prepared position turning charts for the service users who were at risk of developing a pressure ulcer. The other factors involve in preventive managements are pressure relief devices i.e., cushions and mattresses, pressure area skin care specially in incontinence patients and ongoing assessments. The next step after the assessment is planning. It is very crucial aid which leads the patient towards fitness. I prepared and the update care plan by following NICE (2003) guidelines and my placement area policy and procedures. I discussed it with my mentor, my colleagues and other support staff to get suggestion and to improve quality of care (NMC 2008). Apart from all above factors, the important management step in grade 3-4 ulcers are dressing. I also analyzed that I need to perform ulcer dressing on Mrs. Ns ulcer to get confidence and to know my abilities. Before starting dressing I discussed with the nurse about dressing materials used for Mrs. N and prepared trolley using aseptic technique. My mentor observed me carry out dressing and I followed the steps as done by tissue viability nu rse. I also practice for dressing on grade-2 and grade- 3 pressure sores under supervision which gave me self-assurance. The nursing care is not complete without an evaluation. It helps nurses to critically evaluate the patients condition whether it is stable, has deteriorated or improved. During evaluation process I found that our care plans were making significant effects on patient care and helped us to promote their health. In the fifth stage of Gibbs reflective cycle I am going to draw a conclusion following my learning process. I have become competent in the care and management of pressure ulcer. It had provided me skill to practice confidently. If nurses caring of Mrs. N had used their skills and knowledge, then they could have prevented pressure ulcer. There must be busy working environment where for the nurse it is not possible to give detailed attention on every service user but according to the code (NMC 2008), the nurse should work with others to protect and promote the health and well-being of those in her care. I certainly learn the importance of close observation in health care practice. The final stage of the reflective cycle (Gibbs, 1988) is an action plan which facilitates the reflector to plan for the future. It needs you to prepare a plan of actions to take if the situation arises again and also plan for improvement in future practice. I planned that I will perform pressure ulcer dressing whenever there will be a patient requiring pressure sore dressing to get expertise, to increase my confidence and knowledge . I will read more research articles in this area to dig up more and to deliver the best care based on the best available evidence (NMC 2008). I am also planning to discuss this topic with fellow peers.
Tuesday, November 12, 2019
Essay --
Proposal for a Uniform Dress Code Pickerington School District should require students to have a uniform dress code. The current dress code policy is very minimal and is not adhered to by the students. Faculty overlook the students who donââ¬â¢t abide by the current dress code as it would take away from their teaching time. One of the main concerns that is brought up when the topic of school uniforms is discussed is freedom of expression. Many people worry that not allowing children to wear certain clothing will ââ¬Å"stifle their creativityâ⬠(p. ) or restrict their First Amendment rights (Nevada, 2008). There are many reasons for having uniforms in public schools. School uniforms have been shown to improve test scores, raise school pride, increase attendance, reduce violence, and teaches students to dress professionally. School uniforms can also avert the wearing of gang colors (Wilson, 1998). Self-Expression vs. Safety The most common argument against school uniforms is that they take away the students right to self-expression. Yes, school uniforms limit what the students have to wear, but students can still have their own ways of self-expression. Students can still express their style of choice with their hair and what accessories they wear. Their shoe choice is also a form of self-expression. Students can make the uniforms their own style without breaking the dress code. School is a place to learn. Outside of school, self- expression is limitless. Some parents also believe that it could interfere with students' natural behavior to experiment with different identities. Having uniforms in schools helps erase the defined line of the social classes. Typically, popular kids in the higher social classes wear the trendiest clothing... ...h the cost of a year's worth of school uniforms. The cost of a year's worth (Five tops and five bottoms) of school uniforms or standardized dress code clothing is $150. The savings add up plus students who donââ¬â¢t have to focus on what to wear to school are going to focus more on academics, which leads to improved grades. States Laws on Uniform Dress Codes The State of Ohio has a law that permits school districts to implement uniform dress codes. The school district must advise parents and students 6 months prior to any such implementation. This law also allows for any feedback from administrators, faculty and parents. A uniform dress code policy must fall under the guidelines of a districts discipline policy. The law requires that religious garb like yarmulkes and head scarves cannot be prohibited. The actual dress code is at the discretion of the school board.
Sunday, November 10, 2019
New Product Technology
Part A 1. 0 Company Background Softlan is a product under Colgate-Palmolive Company. The small soap and candle business that William Colgate began in New York City early in the 19th century is now, more than 200 years later. It is a truly global company serving hundreds of millions of consumers worldwide. Colgate is a global brands sold in over 200 countries; Colgate, Mennen, Palmolive, Ajax, Softsoap, and Hillââ¬â¢s Pet Nutrition are among the worldââ¬â¢s most recognizable household names, trusted and relied upon by consumers everywhere (Colgate Word of Care, 2008). Based on the research, the companyââ¬â¢s business strategy focuses on five core businesses: oral care, personal care, household surface care, fabric care, and pet nutrition. In the household and fabric care, Colgate-Palmolive has offered the entire household cleanser product such as Toothpaste, Softlan, and body shampoo and so on. [pic] [pic] 2. 0 Product Attribute Softlan is good quality household products that provide to the family. Softlan is to help make their families clothes feel and smell their best. According to Judy Strauss book, with quality most customers know ââ¬Å"you get what you pay forâ⬠. That is higher and consistent quality generally means higher prices, thus maintaining the value proposition (Judy Strauss, Adel, Raymond, 2005). Softlan is adapting a premium price position to comparing with other brand Softener such as Good maid, Downy, Petals and so on but the customer still will purchase it because of the Softlan quality. The offer benefits of Colgate-Palmolive Softlan are as below: ? Static free ? More comfortable to wear Makes ironing easier ? Gives your familyââ¬â¢s clothes an irresistible softness ? Leaves a pleasant fragrance on clothes ? Long lasting fragrance for up to 16 days (Colgate World of Care, 2008) These all the benefit of Colgate-Palmolive Softlan is offer based from customer need and wants which is be able to satisfy the users. [pic][pic] [pic] [pic] 3. 0 Branding Branding is very important to the Colgate-Palmolive Softlan to gain the compet itive advantage from the competitors. A brand is a promise to customers. Delivering on this promise builds trust, lower risk, and help customers by reducing the stress of making product switching decisions. Example like when the customer want to purchase Softlan in the hypermarket but there are many brands so the customer will choosing the brand that they will trust. The selling price of the Softlan Ultra is higher than another Softlan price but the customer still will choosing Softlan Ultra product which is because under the brand name of Colgate-Palmolive and it is also an old brand in the fabric softener product, therefore customer will more trust to the quality of the Softlan Ultra. Based on the research, Colgate-Palmolive Softlan is successful to build the brand name in the customer mind in Malaysia and Hong Kong but there are a lot of new brand was market in the product so Colgate-Palmolive still need to improve and maintain the sales of Softlan in the market with another way. Based on the research information has show that in fabric softeners product, where Colgate is No. 1 in Hong Kong and Malaysia, new sizes and fragrances are adding incremental Market share (Colgate Strategy, 2006). 4. 0 Competitor Analysis Softlan being one of the top fabric softener in Malaysia would need to compete with another competitor in Malaysia market. There are few competitor brands in the market which are Downy, Petals, good maid and so on. All of this fabric softener will offer the similar benefit of softener to customer. Softlan would be competing with this entire brand by using different media, offer differentiation product and produce what the consumer wants in the market. Softlan Company is very smart; it is entered into the hot weather country market which no other softener has entered. Having the Softlan is being able to help the user solve their clothing smelly problem. The Softlan is 4x concentrated with a rich formula that deeply penetrates fabrics and with long lasting fragrance for up to 16 days. |Category |Brands |Chief Competitors | |Fabric Softener |Suavitel, Soupline |Procter & Gamble | [pic][pic][pic] 5. 0 Target Market Softlan target market is large. It is targeting to have family people, single working people and student. Nowadays, every people were busy to work especially in Town so every people also want fast and smell best. Especially working people and student, Softlan can help them to ironing their formal with easies and fast. Furthermore, it also can help them to leaves a pleasant fragrance on clothes. Besides, some big families will not enough space to dry their clothes so all the clothes will hang it together and Softlan will help them to leaves a pleasant fragrance on the clothes. . 0 Positioning Positioning is an important tool those use to reach the user effectively. Softlan has positioning their product with the word ââ¬Å"Soft as a motherââ¬â¢s loveâ⬠in the website through their target customers (Colgate Word of Care, 2008). Which mean that Softlan communicate with the customer after using the Softlan fabric softener to wash the clothes, when wearing will feel soft and comfortable like our mother love. Sof tlan fabric softener is using benefits positioning to support a distinct perception in the consumer mind. In additional, Colgate-Palmolive is providing different type and flavor of fabric softener to the customers. It is to satisfy different customer with different taste such as Softlan ultra is using four times (4x) more softening and long lasting fragrance in 16 days; Softlan relaxing is the softener that the smell can release the stress of the consumer and so on. Softlan has positioning it product in the customer mind by using special flavor which is Relaxing variant with Lavender & Ylang- Ylang essentials oils or the Energizing variant with Bergatnot and Jasmine essentials oil. After using the Softlan, it will help the customer feel relax and wear the clothes more comfortable. Softlan has using marketing strategy of advertise in website, in television in 2007, magazines and so on. Those are few marketing strategy that has been using by Softlan to strengthen their positioning in Malaysia in the hypermarket. In the long run, Softlan has succeeded to build Softlan branding by using the strategies above. The positioning strategies will help Softlan to gain the largest market share in the market. 7. 0 Pricing Strategy Softlan position itself as a premium price of product as mention above. Although itââ¬â¢s pricing is always higher than another brand such as downy. The product is almost same with Softlan but in pricing downy is always cheaper than Softlan. Besides, downy sometime also will sell in offer price within add 20 liter. According to the market research, Softlan price is selling in higher price than another brand it is because it doesnââ¬â¢t want to play price war in the market with the competitor it will lose control in product pricing. Softlan is selling like normal price to their customer nevertheless the customer still will purchase it; it is because the customer trusts to the Softlan quality and brand name. 8. 0 Consumer Behavior Colgate-Palmolive Company was considered about the consumer situation and start to understanding the consumer behavior. Based from the vision of Colgate-Palmolive Company is want to become the best among the consumer product by understanding the consumers and consumer expectation better and by continually innovating and improving their products, services and processes (Colgate-Palmolive Company, 2006). Therefore, Colgate-Palmolive company has successfully created several flavor of Softlan to attract more customer and student when start to market it. Until today, Softlan still strong on its position by providing different flavor, easy to use and bring a lot of benefit to the users. This reason will bring Softlan continually having a big market in fabric softener market. In the other hand, Colgate-Palmolive company also has consider that nowadays people are facing stress problem with the work or family therefore there was come out the new Softlan that the smell can be relax to the people and feel comfortable. Besides that, using Softlan also can help the users ironing their clothes with easy and fast so can save time of the consumers. Softlan also know that nowadays the consumer was also because of the outlook, design of the bottle to buy it. Softlan understand that especially most of the younger people look for the bottle design. Besides, nowadays the consumer also likes to purchase small bottle Softlan it is because it is more portable and easy to keep. Thus, Softlan was produce the design of small bottle in the market to satisfied the consumers. Besides, the company also has using a slogan to promote the Softlan which is ââ¬Å"Soft as a mother loveâ⬠, it is easy and effectiveness way to remember by all the Malaysia customers. 9. 0 Communication tools Softlan always having advertising and promoting in hypermarket or media. This is a useful strategy that applied by Softlan. Based on research, it has shown that 44% of supermarket shopper notice messages delivered and 34% are influenced by in sore media in making brand purchase decisions (Super Guru Home, 2005). That is why that Softlan always has promoting their brand by using different in-store media to the customer. Besides, Cleaning Agent-Laundry ranked the third fastest growing category in the first half of 2006 due to an increase in ad spend by Softlan on Television or another media (Appendix 2). It is the effective way to help the Softlan brand name know-well in all hypermarket of Malaysia. Part B 10. 0 Method of Advertising A creative message strategy is one of the important factors that could determine the success of the advertisement. Besides that, the company use advertising to create awareness to the customers which is to attract more people knows about the brand name. Presently, Softlan is adapting behavioral path to make consumers tell other people about the information of product by increase consumer purchase and continually purchasing which is almost similar like ââ¬Å"Word of Mouthâ⬠strategies it is can expand the information to everywhere. Softlan also has using cognition path which is to send the message to users how the product can solve the consumer problem. Based on the market research, Softlan has using few different strategies: ? A premium price ? Arrange the Softlan product in the middle space of the rack ? Innovation packaging ? Product innovative Based on the proposed concept, there are needs to using three media advertisement in the hypermarket to engage the consumers interesting, help Softlan to build brand and to increase the sales of the product. There three advertising are floorstoppers in hypermarket entrance Aisle, Event at middle and trolley sticker. From this three advertising and promotion campaign will help Softlan to increase their market share and brand name among the competitor in the market. 11. 0 Floor stoppers in hypermarket Aisle [pic] [pic] Exhibit 2. 0 Direction Floor stopper Floor stoppers in oversea is very famous advertising strategies in the hypermarket or everywhere of the street. Softlan is using floor stoppers to create awareness of the consumer in the hypermarket Aisle. The error floor stoppers is placed entrance on the floor of the product aisle. When a consumer walk pass by the aisle, all the product will arrange on the shelf in one row which will very hard to attract people to saw the product and purchase it. The product would not be to attract the customer to walk close to the product and look at it. If the window shopping customer will not walk through the product aisle it because they just want to walk only but if they saw Softlan floor stoppers on the floor, it will attract them to walk close to saw the product and maybe will attract them to purchase it. At first, the direction error with some Softlan message of floor stopper will put on the entrance floor of the aisle which is to attract the customer feel curious and walk through the aisle with follow the error direction. After that, the customer will saw the product floor stopper which is directly in front of the product it would be attract the consumer to find the product easily or attract more the new customer to know the Softlan product. [pic] [pic] [pic] [pic] Exhibit 3. 0 product floor stopper Furthermore, creative messages will be used to catch consumer attention and look at the product. In the floor stopper, the promotion message and picture is being used it which is tell the customer that saving the money if purchase the latest Softlan product which is ultra Softlan and also will using product picture in the 3D floors stopper to be more appeal to attract attention of customer. In using floors stopper would be an effective advertising in the market. It is because normally when the customer decides to buy they just will walk near the product if no they will just walk through the aisle only and cannot saw the product with easily. Therefore the benefit of floors stopper is when consumer walks near to the Softlan floors stopper they will consider to purchase the product that receiving by the 3D product picture and message on the aisle floor. It is because normally on the shelf will market a lot of similar product but different brand and it will make the customer confuse and hard to find the product. Based on the book, floor advertisement at around the product shelf can help Softlan to increase products sales by much as 25% and attract more new customer to try the product (Rosenbloom, 2004). Floors stoppers advertisement can effective to build branding in customer mind. On the other hand, floor stopper in hypermarket aisle also can be as an extended shelf space of the product and dominance of the aisle for the advertisement of Softlan product. The pictures of Softlan floors stopper refer to exhibit 3. 0. 12. 0 Event at middle of hypermarket By using Softlan event is an effective media nowadays trends. The product event can be like purchase the product up to ten ringgit will get chance to win the voucher or selling the product by using promotion price which is mean selling the Softlan product in the lower price and introduce the latest Softlan products. Softlan can choose to have this event it is because the event can attract more customer attention to the product and know the product features. To having this event will be able to attract more the potentials customer, it is because the customer will think that the price will cheaper than normal day so they will go to join the event to get the free gift or purchasing the Softlan product with promotional price. With having this event Softlan Company can be face to face provide the Softlan information to customers. The benefit s of Softlan having an event is customer data can be collect for analysis and can understand more customer behavior in the hypermarket. Thus, some cross-selling will be implementing in the events. It is also can build customer relationship to increase the customer services of Softlan and also can understand the trend of market. From the event, Softlan Company brand name will always keep in customer mind and can increase the number of new customer to purchasing Softlan products. Besides that based on the event can direct communicate with the customer and know what they wants. 3. 0 Trolley Sticker Trolley sticker is meant that the Softlan product promotion or information sticker can be stick on hypermarket trolley. Softlan can use the sticker advertisement to attract every walk in customer. It is an effective way and easy to advertise Softlan product through the sticker to create customer brand awareness. The advertisement can be saw by every customer in the hypermarket whe n they using the trolley. When the customer saw the promotion message or picture them will feel curious and will finding the Softlan product place to see it. The benefit of the Softlan trolley sticker is can reduce the advertising cost and also can expand the advertisement space of the products. It can be create awareness to all customers who are shopping in Carrefour. 14. 0 Conclusion As a conclusion, all of the media strategies can be effective advertising tools in the market. Softlan can be using this three media advertising to increase the number of customer, increase the sales, and create the brand awareness for the customer. It is an effective tools using by Softlan to compete among the fabric softener competitors. References Colgate-Palmolive, 2008, ââ¬Å"Colgate world of careâ⬠, Accessed by 17/8/08, available on: http://www. colgate. com. my/app/Colgate/MY/HouseholdCare/ProductRecommender/FabricSoftener/PDPs. cvsp? product=SoftlanUltra -Supermarket Guru, 2007, ââ¬Å"Spontaneous Supermarket Salesâ⬠, Accessed by 19/8/08, available on: http://archive. supermarketguru. com/page. cfm/15585 -Reuben Mark,2008, ââ¬Å"Chairman of the Boardâ⬠Accessed by 30/8/08, available on: http://www. colgate. com. my/app/Colgate/MY/Corp/ChairmansMessage. cvsp -Colgat-Palmolive, 2008, ââ¬Å"The New York Timesâ⬠, Accessed by 3/9/08, available n: http://topics. nytimes. com/top/news/business/companies/colgate_palmolive_company/index. html? excamp=GGBUcolgate-palmolivecompany&WT. srch=1&WT. mc_ev=click&WT. mc_id=BI-S-E-GG-NA-CT-colgate-palmolive_company -Bina Thompson, 2008, ââ¬Å"Earning Newsâ⬠, Accessed by 9/9/08, available on: http://investor. colgate. com/print_release. cfm? ReleaseID=114277&ReleaseType=Earnings -Farlex, 2002, ââ¬Å"The Free Libraryâ⬠, Accessed by 18/9/08, available on: http://www. thefreelibrary. com/The+top+50-a090607513 -Nixfon, 2006, ââ¬Å"Brand Equityâ⬠, Accessed by 19/9/08, available on: http://www. randequity. com. my/news/news-Fifa2006. htm -Global Financial Review, 2007, ââ¬Å"Dollars in Millions Except Per Share Amountsâ⬠, Accessed by 22/9/08, available on : http://investor. colgate. com/downloads/PDF2_18-39. pdf -Coloribus advertising archive, 2008, ââ¬Å"Coloribusâ⬠, Accessed by 26/9/08, available on: http://www. coloribus. com/paedia/prints/2007/07/08/203482/ ColgateStrategy, 2006, ââ¬Å"Highlighâ⬠, Accessed by 15/10/08, available on: http://investor. colgate. com/downloads/ar97. pdf Book -RosenbloomJ, 2004, High Noon in Aisle Five, Published by Inc. Magazine Boone,L, E, Kurtz, D, L, (2005), Contemporary Marketing, 4th Edition, Prentice Hall. -Strauss, J, Ansary, A, El, Frost, R, (2006), E-Marketing, 4th Edition, Prentice Hall. Appendix 1 In-Store Media Can Spur Spontaneous Supermarket Sales August 9, 2005 A new study reveals that 44% of supermarket shoppers notice messages delivered by in-store media, and 34% are influenced by in-store media in making brand purchase decisions. One key finding of the study, conducted by Mediaedge:cia, was that a strong correlation exists between shoppers noticing an in-store ad or promo tion, and that prompting an impulse purchase. However, not all forms of in-store media are created equal, nor is the effectiveness of each to different segments of shoppers. For instance, end-aisle displays and store flyers are the most noticed form of in-store advertising overall, while shopping cart ads and in-store TV ads are largely ignored by today's ââ¬Å"on-the-goâ⬠shoppers. And, despite the rhetoric surrounding our time-challenged society, 51% of supermarket shoppers still move through every aisle of the store. A shopper's age can hold the key as to how responsive that person may be to various forms of in-store media: â⬠¢ Shoppers age 55-64 are most influenced by product demos â⬠¢ Shoppers 45-54 are 66% more likely to respond to flyers â⬠¢ Shoppers 35-44 respond favorably across many in-store media including product packaging, check-out line advertising and ads outside the store (outside the entrance and in the parking lot) â⬠¢ Shoppers 25-44 are most driven to spontaneous, unplanned sales by shelf signs In terms of gender targeting, females remain the primary supermarket shopper, and the study reveals that in-store ads are generally effective in communication with female consumers. They often hold the key to triggering spontaneous purchases ââ¬â particularly if they are tied into a deal. The exception is poster ads hanging from the ceiling, which are largely ignored by female grocery shoppers. Many of those women are heads of households who bring their kids along with them on shopping excursions. It should come as no surprise, then that among them, 61% claim their children influence their brand decisions, underscoring the need for in-store communications to this age group as well. Over the past decade, the term ââ¬Å"in-store mediaâ⬠has taken on a whole new meaning. Once consisting of simple signage by retailers hoping to promote specials, today, in-store media includes various incarnations, including end-aisle displays, floor signage, kiosks, interactive flat panels, and in-store audio and video transmissions. In-store media has a huge advantage over traditional media in
Friday, November 8, 2019
Why You Need Social Proof
Why You Need Social Proof It happened seven years ago, but Ive not forgotten the story. Famous violinist plays at public location on Stradivarius violin, barely anyone notices. A Stradivarius Violin. You think people would notice who was playing it. That wasnt the exact headline, but it could have been. The world-renowned violinist in question was Joshua Bell, and the location was the LEnfant Plaza Metro Station in Washington D.C. Bell stood, with his violin case open, and played some of the most difficult violin pieces without much reaction from anyone. As I read the 2007 article in The Washington Post about their experiment on whether people would react to Bell (whose concerts are far from free), I was frustrated. What is wrong with people? I thought. Why wouldnt people stop and listen? This isnt the first time where people have not noticed when something important was happening right in front of them. Most recently, graffiti artist Banksy set up a booth in New Yorks Central Park and sold paintings that would normally go for $31,000 for just $60. An unknown elderly man was in the booth to sell the paintings, and only three people ended up buying them. How do people miss out on recognizing a great musician or high-priced art like this?à It has to do with social proof, and context. What Is Social Proof? A few months ago, a reader had pointed out that there werent a lot of comments on our blog. You need them for social proof! he said. While I enjoy seeing comments on our blog posts, it hadnt occurred to me there was a reason to want them beyond enjoying discussion. Was he right? Was a lack of comments a bigger problem? In Robert Cialdinis article Six Principles Of Influenceà (PDF), which covers techniques and qualities that people can use to convince other people to act in a certain way, social proof is number three on the list. Social proof is, quite simply, where you and I replicate the actions of those around us in the current situation, because we assume that is the correct behavior. 1. Social Proof Is A Shortcut If most people are doing something, we can rest assured that if we do the same we wont: Look stupid and stand out. Commit an unforgivable faux pas. Have to think if we should or shouldnt; the rest of the group did that thinking for us. Relying on social proof is easy in a day full of decisions to make. Are the rest of my co-workers staying late? Then I will. Did they leave early? Then I can, too. Social proof is a shortcut in the thought process. We dont have to think. The others already did (we assume). 2. Social Proof Is An Endorsement If I see a restaurant with many diners in it, I assume its a pretty good place to eat. If there is no one inside, then surely there must be something wrong with the place. I assume that other people know something that I dont know, and so I take their opinion on the restaurantââ¬âand how they vote with their feetââ¬âas the basis for my decision. When many people take part in something, it tells me that I ought to, too. I dont want to be left out (a huge fear for most people) and despite what my mother told me growing up (just because everyone is doing it doesnt mean you have to!), we are inclined to do what everyone else is doing. Social proof tells us what we out to do, because other people are doing so with apparent success and enjoyment. Social proof is using the crowd to convince others to join in.3. Social Proof Tells Me Right And Wrong Cialdini also talks about social proof in his book Influence: The Psychology of Persuasion, and heà suggests that [o]ne means we use to determine what is correct is to find out what other people think is correctWe view a behavior as more correct in a given situation to the degree that we see others performing it (116). Remember, one of the reasons people share content on social media is to ask for help in understanding how they should feel about it. We take cues on how to think about something by observing how others think about it. Social proof is similar; what others do tells me whether something is right or wrong. Social proof lets us off the hook when it comes to what seems right and wrong. We go along with the crowd, who has decided that for us. From the 1963 film Lord of the Flies. Criterion Collection. Allowing social proof to determine right and wrong is not necessarily a good thing. Consider examples of crowds or businesses (or children,à la Lord of the Flies) going off the rails and down the path of terrible ethics and actions. At the conclusion, we wonder how they could have veered so far off the path when all along they were using social proof as their guideline for what was acceptable. When the group around you has lower standards for what is right and wrong, it wont be long before you will, too. 4. Social Proof Works Best With Peers Its not necessarily any old crowd that can get us to do something. Sure, well take a strangers word for it when it comes to online reviews or whether or not theyre eating at a restaurant, but even then we put much more weight on the word of our peers. If five people ate at a restaurant? Interesting. If five friends did? Im sold. We listen to people on the same level as ourselves. Influence is often best exerted horizontally rather than vertically. ââ¬â Robert B. Cialdini According to Cialdini, science supports what most sales professionals already know: Testimonials from satisfied customers work best when the satisfied customer and the prospective customer share similar circumstances. Well follow along with the crowd best if it is our crowd. The Herd Mentality Of Social Proof Painting of a buffalo jump by Alfred Jacob Miller, from Wikipedia. Social proof, as a reality of how groups of people act, is a bit disturbing. Near the farm where I grew up in northeast North Dakota, an elderly man collected rocks and other interesting finds hed come across on his land. I went to interview him for the newspaper that I was working for at the time, and spent several hours looking and listening to a fascinating history as seen through the eyes of geology. The best rock he saved for last. It was huge, and was outside in his flowerbed. Its surface was rough, except for one side which was polished smooth and shone in the sun. I found this near the buffalo jump, he said, gesturing to the rock as we stood in front of it. Theres a small one nearby. A buffalo jump? I asked. I wasnt sure what he meant. The Native Americans would drive a herd of buffalo over a cliff or into a ravine, he explained. The buffalo would tumble over the edge and be rendered immobile. They could then kill them easily. It was much more efficient. He described the buffalo jump hed found on his property, a ravine littered with bones that would frequently surface at spring thaw or with even mildly ambitious prodding around. He pointed to the rock, with its strangely smooth side. There were several of these rocks, lined up to the edge like the lines on the highway. These rocks helped them guide the buffalo to the correct area, and they were worn smooth from the animals rubbing against them. What does a buffalo jump have to do with social proof? We are the same as the buffalo, in a sense. We make decisions based on assumptions from the social cues around us rather than thinking. Im sure you believe you are above having a herd mentality, and that you make decisions based on careful thought, but the truth is that most of us dont. More often than not were functioning on default, i.e. not consciously deciding. We are letting other factors tell us how to decide, rather than thinking things through. The buffalo herd ran right off a cliff. Individually, they might not have, but as a large group in which all of the rest of the animals were doing it, they did, too.à In other words, we follow crowds, and to the extremes. Why didnt people notice the violinist, or realize the art on the street was worth so much? Because no one else did. The musician and the art werent in the proper context (concert hall, gallery). No one made the connection. Even those who did think something worthwhile was happening convinced themselves they were wrong becauseà no one elseà was reacting. Its the bizarreà bystander effect, where the more people there are around, the less likely youll get help if you need it. Everyone can see theres something happening, but no one takes action until someone takes action which is a catch 22. How Do I Use Social Proof? As a content marketer, you need to know how to use your content to get people to act in a particular way. You need to find a way to tap into something that prompts them to listen to you, and using social proof is a way to do that without extensive work and effort. If you can get a few, you can get many, many more. You dont have to individually target all 100 people in a group. Just get 20, and the other 80 will follow. According to writer Aileen Lee, there are five kinds of social proof: Expert: Approval from credible experts. Celebrity: Approval from people we admire. User: Approval from people like me, doing what Im doing. Crowds: All of those people cant be wrong! Friends: Approval from those I trust. Each of these five types fits into the idea of how we listen to our peers. 1. Find The Right Spokesperson If you are trying to convince a group of teenagers that they shouldnt skateboard on your propertys concrete barriers, good luck. They probably wont listen. Youd be better off finding another teenage skateboarder that they respect to do the convincing. We listen to those we perceive as being on our same level. What is the audience you are trying to reach? Who is it made of? For , our audience includes people who use WordPress blogs, are serious about content marketing, and make heavy use of social media (or people who want to be like that). Finding regular people who are doing exactly that are more convincing as a spokesperson than all the slickest PR we might possibly generate, or having Huge Gigantic Corporation say I use . Its why we retweet comments on Twitter from users who are excited about , or why we share testimonials with photos and links.à Were showing our audience that others, just like you, use and love . Find a spokesperson who has the same experiences and speaks the same language as your audience. 2. Capitalize On The Identity Your Audience Wants I am certainly not close friends with celebrities, but I mightà identifyà with them or something they represent. There is no other reason for me to listen to a famous person who is otherwise wholly removed from my life, other than I am attributing a quality or identity to them that I want, also.
Wednesday, November 6, 2019
Factory, Industry, and Plant
Factory, Industry, and Plant Factory, Industry, and Plant Factory, Industry, and Plant By Maeve Maddox An ESL speaker asks for a discussion of the nouns factory, industry, and plant in the context of the following: ââ¬Å"mineral water factory,â⬠ââ¬Å"mineral water industry,â⬠and ââ¬Å"mineral water plant.â⬠factory An earlier meaning of factory was ââ¬Å"the employment, office, or position of a factor.â⬠A factor, as in the word cornfactor, is ââ¬Å"an agent who buys and sells, or transacts other business, on behalf of another person or company.â⬠In the context of manufacturing, a factory is ââ¬Å"a building or range of buildings for the manufacture or assembly of goods or for the processing of substances or materials.â⬠The earliest OED citation of this meaning of factory (1618) refers to a facility for the printing and manufacture of books. industry The noun industry has several meanings. The relevant definition in this discussion is this one: A particular form or sector of productive work, trade, or manufacture. In later use also more generally: any commercial activity or enterprise. Also with modifying word indicating the type of activity or principal product: banking industry, car industry, film industry, heavy industry, service industry, tourist industry, etc. plant The noun plant has numerous meanings, but in the context of manufacturing, plant is often a synonym for factory: the premises, fittings, and equipment of a business; a factory, a place where an industrial process is carried out. In extended use: the workers employed at a business, institution, or factory. ââ¬Å"A mineral water factoryâ⬠can describe a place ââ¬Å"for the processing of mineral water.â⬠Perhaps more commonly, such a facility is called ââ¬Å"a bottling plant.â⬠The phrase ââ¬Å"mineral water industryâ⬠connotes all the commercial activity that goes into the acquisition, preparation, and sale of mineral water. Want to improve your English in five minutes a day? Get a subscription and start receiving our writing tips and exercises daily! Keep learning! Browse the Vocabulary category, check our popular posts, or choose a related post below:"Based in" and "based out of"How to Punctuate Descriptions of Colors75 Synonyms for ââ¬Å"Hardââ¬
Sunday, November 3, 2019
Business Law Essay Example | Topics and Well Written Essays - 1000 words - 19
Business Law - Essay Example is not improper to consider European Communities Law before Legislation and Common laws as sources of English Law because, European Union has progressively passed the right to create laws which have effects in the UK since it joined European Union,. Kelley and Holmes (1997) considered Legislation as the second source of Law because Parliament within UK is sovereign and can create or alter the law whenever it determines to do so. European Law has three distinctive forms namely regulations, directives and decisions. Regulations have immediate effect without out the need for UK to produce its own legislation. On contrary, directives are those that require specific legislation to execute the proposals. Decisions of the European Court of Justice are applicable all over the European Union countries (Kelley and Holmes, 1997). Parliament has sovereign rights and powers to make or alter laws if European Union institutions are sovereign in its boundaries. The laws that are formed by the legislature (Parliament) are known as Statute or Legislation law. A law which has been passed by the legislature and it has received Royal Assent, it is known as Act of Parliament and it forms to be the primary form of Statute Law (Gillies, 2004). There are various types of legislation and its impacts also will be different. For instance, public acts affect public generally whereas private acts affect only limited groups of the public. The Common Law is the body of principles that are developed by the Common Law courts of England (Gillies, 2004). Common laws are those legal rules and principles that are created and developed by the courts in deciding legal cases. The primary hallmark of the Common law is that it is made by court judges. They, rather than creating laws, find, observe, declare and discover laws from case to cases. Equity is considered to be a branch of English Law, supplement to Common Law. It has been established and developed hundreds of years ago when litigants went to
Friday, November 1, 2019
The Global Recession Essay Example | Topics and Well Written Essays - 2750 words
The Global Recession - Essay Example The demand for homes and mortgages continued to increase over the years as buyers became more confident in their buying decisions and the return on their investments thus creating a form of bubble that resulted in a continuing rise in home prices. To further induce the borrowing by home buyers loan terms were further relaxed as plenty of funds were available with the lenders and agencies causing a wide dispersion of credit facility without properly checks and balances (Jaffee 2008). Property agents were assigned the task of bringing potential home buyers to the agency in return for the additional benefits and incentives. At that time, the only aim of the financial institutions was to give loan to as many people as possible to earn more and benefit from the soaring prices of properties. But what they ignored in their greed was to check the repaying competency of their potential customers in order to avoid the future debacle. The financial prudence was ignored and people with low income or bad credit history were facilitated by the lenders. Favorable loan conditions were offered as a way to attract borrowers by lending companies that in fact led to solvency issues for them. Loans offered at variable low rates were expected to increase in the future and many borrowers took mortgages in their anticipation that the high prices will help them to refinance swiftly at more encouraging provisos (Jaffee 2008). However, this did not happen and conditions really worsened ov er a period of time.
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