Saturday, May 23, 2020
Critically analyse the direct, indirect and induced economic impact of the Rugby World Cup 2015 for England - Free Essay Example
Sample details Pages: 8 Words: 2459 Downloads: 1 Date added: 2017/06/26 Category Economics Essay Type Critical essay Did you like this example? Introduction Despite widespread publication of a positive economic impact resulting from the Rugby World Cup in 2015, issues such as overspending, forecasting accuracy, and the focus of the reporting itself, suggests there are also factors which may materially reduce the overall impact. Because of this, it is possible the widely publicised outlook for this event is overly optimistic. This report will critically analyse the direct, indirect and induced economic impact of the Rugby World Cup 2015 for England. Donââ¬â¢t waste time! Our writers will create an original "Critically analyse the direct, indirect and induced economic impact of the Rugby World Cup 2015 for England?" essay for you Create order Beginning with a summary of the economic impact, issues will then be examined with reference to the stated impacts, relevant literature, and comparable events around the world such as previous Rugby World Cups. The analysis concludes that the economic impact of the 2015 Rugby World Cup, while sizeable, may not be as significant as predicted. Summary of Economic Impacts A report by Ernst Young forecasts a number of economic benefits to the 2015 Rugby World Cup, including over $2 million in economic output, and a direct boost to GDP of $463 million (Arnold and Grice, 2015; summarised in Table 1). Media promoting these benefits is widespread, with the Ernst Young report often cited to describe and support the positive impacts of the 2015 Rugby World Cup. The many media examples include Bergson (2015), Menary (2015), and Wilson (2015). Due to the credibility of the financial services firm Ernst Young (Aubin, 2012), as well as the wide-spread publication of these results, the economic impact by Arnold and Grice (2015) will be used as the basis for this analysis, as summarised in Table 1. Contribution Type Impact Category Impact Source Amount (millions) Output Direct Visitor spend Ticket revenue (international) Infrastructure investment Fanzone spend Stadia spend $869 $68 $85 $5 $13 Indirect and induced $1,165 GDP Direct Visitor spend Ticket revenue (international) Infrastructure investment Fanzone spend Stadia contribution $391 $29 $35 $2 $6 Indirect and induced $518 Table 1. Summarised from Arnold and Grice (2015, pp18-20) For the purpose of this analysis, direct impact is considered to be initial spending stimulus arising from the event, including infrastructure expenditure and ticket revenue. Indirect economic impacts result from transactions that occur as a result of the initial spending, such as additional tourism expenditure in other areas. Induced impacts are the result of increased consumer spending due to higher income, such as greater support for sports and health overall. These definitions are outlined by Saayman and Saayman (2012, p223) and are consistent with the examples provided in the report by Arnold and Grice (2015). Support and improvements for the Forecasted Economic Impact Financial Stimulus The publicity of a major sporting event is said to improve the local brand overall, resulting in additional foreign investment, including business and tourism. While arguably temporary, this publicity can stimulate activity during a time of economic slowdown, which in turn creates indirect economic impacts such as increased demand for manufacturing, and induced effects such as higher overall employment, in particular in the hospitality industry (Arnold and Grice, 2015; Statistics New Zealand, 2012). While purely financial transactions are not included as part of GDP increases (McConnell et. al, 2010), some GDP growth may occur on the back of a strong financial market, driven by the Rugby World Cup. Increased publicity for the host country, coupled with high consumer excitement and mass sponsorship exposure may explain why share prices tend to improve during mass sporting events. For example, during the 2013 Wimbledon, the 10 largest listed companies in Scotland experienced a 7.5% increase in share price, while the FTSE100 increased by 5.1% (Thanapathy, 2015). In addition, the first trading week following the announcement of a significant sponsorship agreement saw sponsoring companies in the U.S.A. experience significant share price gains (Harrow and Swatek, 2011). While not mentioned in the report by Arnold and Grice (2015), an induced economic impact to the Rugby World Cup may be increasing investment in additional goods and services, as business confidence increases due to the strong financial market. The Multiplier Effect and Social Good An additional contributor to GDP and output is the result of the multiplier effect, that is, the increase in investment bringing about a disproportionate increase in GDP via spending and re-spending (Saayman and Saayman, 2012; McConnell et. al, 2010). The multiplier effect during an event such as the Rugby World Cup is likely to be significant, not only through increased consumer and business spending, but in areas such as an increased interest in sports, which in turn encourages a higher focus on public health overall. The social benefits of large sporting events are evident in the Comrades Marathon, where induced economic impacts included the benefits of increased income and spending reaching the poor. Saayman and Saayman (2012) note that their findings regarding the social benefits of the Comrades Marathon are consistent with broader literature, which also finds the economic impact of large scale sporting events reaches both rich and poor. Thus the direct impact of increased output and income generated by the Rugby World Cup is likely to increase GDP more than the initial investment, creating indirect and induced impacts via the multiplier effect. Including both Domestic and International spend When measuring economic impact, Arnold and Grice (2015) exclude domestic spend on sporting events because, it is argued, this money would remain in the economy regardless, being spent elsewhere if not on the Rugby World Cup. However, domestic spend may also be relevant as this recreational income could easily be spent in a different economy, were it not for this event (Saayman and Saayman, 2012). Given the proximity of England to European destinations, and the cultural relevance of Soccer in England and Europe (Gibbons, 2014), it is likely that English income would be spent in other countries if the Rugby World Cup was held elsewhere either to another destination for a holiday, or to the country hosting the World Cup. During the 2011 Rugby World Cup in New Zealand, the second most popular tourist origin was direct from the U.K.; a significant number of additional sports tourists from the U.K. arrived via Australia (Statistics New Zealand, 2011). Thus both domestic and internati onal expenditure on the Rugby World Cup 2015 is significant. Amending visitor and ticket revenue, and revenue derived from food and beverages, to include domestic consumers may be more accurate than focusing solely on additional international income. New Zealand, for example, note an increase in domestic household spending during the Rugby World Cup 2011, driven primarily by food and beverage, in addition to international spend (Statistics New Zealand, 2011). Similar to the Canadian analysis of Sports Tourism, domestic income may be included on a separate line for clarity and completeness (The Outspan Group Inc, 2009). While this may serve to increase forecasted output by increasing overall predicted spend, as discussed under Forecasting Ticket Sales, it is also possible that international spend reduces the economic impact of domestic expenditure in some areas, as the two may net each other out. Limitations and Challenges to the Forecasted Economic Impact The tendency to over-estimate Historically, the economic impacts of sporting events have been overestimated by host countries (Leeds and Von Allmen, 2008; Horrow and Swatek, 2011). For example, the economic impact of the 2002 World Cup fell significantly short of the estimated $31 billion (Leeds and Von Allmen, 2008). While GDP and consumption was affected during the 2011 Rugby World Cup, New Zealand reports that it did not contribute to the New Zealand economy, as measured in the BoP and national accounts (Statistics New Zealand, 2011). The Super Bowl XL publicised an economic impact of $300million on the back of sports tourism exceeding expectations, however figures later released by the Michigan Department of Treasury suggest the actual economic impact was negligible (Horrow and Swatek, 2011). It is thus highly possible that the economic impact for England has been similarly over-estimated. Economic Impact Intention As a general rule, economic impact reports measure total, as opposed to net, activity or income (Saayman and Saayman, 2012), and for this reason may appear overly positive compared to more balanced analyses, such as cost-benefit, where expenditure as well as income is considered. While economic impact is sometimes defined as net benefit (Crompton, 2006 in Saayman and Saayman, 2012), the more widely accepted definition is monetary payments as they move through a regional economy for the purpose of measuring the impact of an event as it relates to that economy (Tyrrrell and Johnston, 2006, p3). While omitting additional costs is technically correct, it can seem misleading in journal articles written for the general public, who may be unaware of these definitions. The article by Menary (2015), for example, presents an unrealistically optimistic view of the financial viability of the Rugby World Cup, as the public is only made aware of gains. Direct economic impacts, such as the $68 million in ticket revenue noted in the report by Arnold and Grice (2015) may return a far lower figure once additional costs such as administration have been taken into account. It is possible that GDP and output will increase by the stated amounts, however for a complete picture, more than the standard economic impact should be considered. Forecasting: Ticket Sales as Incremental Income It is possible that locals would attend the Rugby World Cup in place of tourists, were it not for the influx of football fans (Leeds and Von Allmen, 2008, p233) a possibility that nets out the impact of international spend on tickets to some degree, since the international income is replacing local income not adding to it. Further understanding local activity the propensity to travel and attend local events is therefore vital in understanding the true economic impact of international spending during the Rugby World Cup in 2015. As noted by Saayman and Saayman (2012, p232): in order to increase the economic benefit of the event, expanding both these markets might be worthwhile. Further, one way Arnold and Grice (2015, p8) forecast ticket revenue and consumer interest is by measuring the historic percentage of seats filled during World Cup Events. While these percentages have hovered around 95% for the past two events, it is not known how many of these tickets were paid for, g iven away, or scalped. In the 2000 Olympics, for example, questions were raised regarding the distribution of tickets to sponsors and hospitality companies, while in the 2012 Summer Olympics, London began distributing free tickets to fill stadiums during events (Freid et. al., 2013). Predicting public interest is not as simple as measuring seats filled, and it is possible that increased output as a result of tickets sales is overstated. Timeframe: Impact of one-off vs repetitive events A number of impact drivers for the 2015 Rugby World Cup are short-term, which may help explain why the estimated benefits, in particular the induced benefits and assumptions regarding the multiplier effect, may be overstated. While regular, local events use existing infrastructure, require lower levels of investment, and have ongoing effects (Higham in Ritchie and Adair, 2004, p135), it is possible that larger events experience more temporary economic impacts, as the related investment is for a unique, rather than an ongoing, event. In Japan, for example, Saitama currently spends nearly $4 million per year maintaining a stadium built to host the 2002 Rugby World Cup, despite the venue now only drawing around 20,000 spectators for local sporting events (Leeds and Von Allmen, 2008). In the U.S.A., an abundance of abandoned and crumbling sports places exist, many less than 20 years old (Horrow and Swatek, 2011, p3). As noted above under The Tendency to Overestimate, New Zealand exp erienced increased economic activity during the Rugby World Cup in 2011; however the long term impact was not as significant (Statistics New Zealand, 2011). When measuring the economic impact in England, Arnold and Grice (2015, p11) refer to an induced economic impact of further investment on the back of a lasting legacy for the sport. In addition, infrastructure investment is listed as the second most influential direct economic impact. However, given the results in New Zealand, the U.S.A., Japan and Korea, and the nature of large, relatively infrequent sporting events, it is possible these benefits have been overstated, particularly in the long term. Conclusion In conclusion, it is likely the economic impact of the 2015 Rugby World Cup, as outlined by Arnold and Grice (2015), is a good overview. Increased economic activity leads to direct impacts including increased output and GDP driven by higher foreign and corporate investment, such as sports tourism and corporate branding respectively. Indirect impacts include high intermediary activity, including increases in the hospitality industry and spend on food and beverages, while induced benefits are as far reaching as social support driven by higher consumer income and the multiplier effect. While these impacts are positive, it is believed the magnitude of the results have been exaggerated, due to limitations including the tendency of host countries to overestimate the impact of sporting events, and the temporary effects of short-term events even those as large as the Rugby World Cup. Further, due to the scope of an economic impact statement, many costs have gone unmentioned, creating a disproportionate impression of gains and optimism. References Aubin, D., 2012, Ernsts revenues rise 6.7 percent on advisory growth, Reuters, Available through https://www.reuters.com/article/2012/10/01/us-ernst-revenues-idUSBRE8901GS20121001 Bergson, Z. 2015, Sports and Money: Economic Impact of the Rugby World Cup, National Centre for Business Journalism, Sept 14 2015, Available through https://businessjournalism.org/2015/09/sports-and-money-economic-impact-of-the-rugby-world-cup Arnold, P. and Grice, M., 2015, The Economic Impact of the Rugby World Cup 2015, Ernst Young, Available through https://www.ey.com/Publication/vwLUAssets/EY-rugby-world-cup-final-report/$FILE/EY-rugby-world-cup-final-report.pdf Freid, G., DeSchriver, T. and Mondello, M., 2013, Sports Finance, 3rd Ed., U.S.A.: Human Kinetics Harrow. R, and Swatek, K., 2011, Beyond the Scoreboard, U.S.A.: Human Kinetics Gibbons, T., 2014, English National Identity and Football Fan Culture, Surrey: Ashgate Publishing Ltd. Leeds, M. and Von Allmen, P., 2008, The Econo mics of Sports, 3rd ed., Boston: Pearson McConnell, C, Brue, S, Flynn, S. and Barbiero, T., 2010, Macroeconomics, 12th ed., Canada: McGraw Hill Ryerson Menary, S. 2015, Rugby to prove lucrative game as World Cup kicks off, The National: Business, Sept 17 2015, Available through https://www.thenational.ae/business/economy/rugby-to-prove-lucrative-game-as-world-cup-kicks-off Outspan Group Inc, The., 2009, The Economic Impacts of Cultural and Sport Tourism in Canada 2007, Amherst Island: The Outspan Group Inc. Ritchie, B. and Adair D. (eds)., 2004, Sport Tourism: Interrelationships, Impacts and Issues, U.K.: Channel View Publications Saayman, M. and Saayman, A., 2012, The Economic Impact of the Comrades Marathon, International Journal of Event and Festival Management, Vol3 (3), 05 Oct 2012, pp220-235 Statistics New Zealand, 2011, Impact of the Rugby World Cup in New Zealands macro-economic statistics, Statistics New Zealand, Available through https://www.stats.govt.nz /browse_for_stats/economic_indicators/NationalAccounts/impact-of-rugby-world-cup.aspx Thanapathy, S. 2015, Off the Pitch: The winners and losers of the Rugby World cup, Australian Times: Sport, 25 Sept 2015, Available through https://www.australiantimes.co.uk/off-the-pitch-the-winners-and-losers-of-the-rugby-world-cup Tyrrell, J. and Johnston, R., 2006, The Economic Impact of Tourism, Journal of Travel Research, Vol. 45, Aug 1 2006, Available through Deep Dyve at https://www.deepdyve.com/lp/sage/the-economic-impacts-of-tourism-a-special-issue-RCkCF7L8ja?articleList=%2F Wilson, B. 2015, Rugby World Cup a global game changer, says RFUs Ritchie, BBC News: Business, 24 Sept 2015, Available through https://www.bbc.com/news/business-34130763
Monday, May 18, 2020
The Effects of a Lack of Sleep - 734 Words
Insomnia; is also known as a deficiency of sleep or sleep deprivation. People with this condition are apt to suffer from inadequate sleep and more likely to battle depression, have poor concentration, and be involved in an auto accident; from a lack of focus. These issues followed by prolonged periods of time; can cause a person some sort of health issues, whether mental or physical.(Harvard Medical School) Sleep deprivation alters the production and action of some hormones, dampening the secretion of thyroid stimulating hormone and increasing blood levels, this shows mostly during the afternoon and evening hours. Higher cortisol levels are distinctive to much older subjects and are thought to be linked to age-related health problems, such as insulin resistance and memory complications. (University of Chicago) Associated things that cause insomnia that are common is stress, environmental changes, caffeine, cold medicine, steroids, and antidepressants. Some people deal with insomnia for only a few nights like jet lag, but if the problem persists it can progress into chronic insomnia, which is another common symptom of psychiatric disorders, such as; anxiety and depression. If sleep is interrupted then a balance of hormones can take place. As an example; poor sleep is the beginning to an increase in the production of cortisol, which is a stress hormone. This hormone affects the heart and too much of it causes hypertension or it can zap a personââ¬â¢s energy and bring them intoShow MoreRelatedThe Effects of a Lack of Sleep Essay1334 Words à |à 6 PagesEffects of a lack of sleep, known as insomnia, is the most common classification of sleep disorders. It was estimated that thirty to forty million Americans have difficulty staying asleep, falling asleep or waking earlier than they would like to, and cannot get back to sleep. 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Tuesday, May 12, 2020
The Great Depression - 1731 Words
The 1920ââ¬â¢s was a decade of discovery for America. As mentioned in ââ¬Å"who was roaring in the twenties? ââ¬âOrigins of the great depression,â⬠by Robert S. McElvaine America suffered with the great depression due to several factors but it managed to stay prosperous at the end. In ââ¬Å"America society and culture in the 1920ââ¬â¢s,â⬠by David A. Shannon there was much more to the great depression. It was a time of prosperity an economic change. Women and men were discovering who they were and their value to society in ââ¬Å"The Revolution in Morals,â⬠by Gilman M. Ostrander. Even if Racism still existed as mentioned in ââ¬Å" The Tribal Twenties,â⬠by John Higham, the 1920ââ¬â¢s still was time of change that affects people today. McElvaine describes misdistribution as the main leading cause of the great depression however; he also states that other factors could have contributed to the overall outcome leading to the Great Depression. He believed that the great depression began along side with the World War and it transformed the United States from being a nation in debt to a creditor nation. As the great depression began, weakness of the international economy and contradictory American economic policy was to blame. As the wheels of wealth started rolling, internal problems troubled the American depression more so than foreign problems did. Another aspect that leads to the great depression as mentioned in the article is the problems with American farmers having overproduction of agricultural commoditiesShow MoreRelatedThe Depression Of The Great Depression1223 Words à |à 5 Pagesfar-reaching consequences as the Great Depression. This experience was the most extended and severe depression of the Western wo rld. It was an economic downturn that began in 1929 and lasted until 1939. A large amount of Americaââ¬â¢s labor force lost their jobs and suffered during this crisis. 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Wednesday, May 6, 2020
Ghosts of the Bomb The Tragedy of the Hibakusha - 994 Words
The radiation that infected the air of Hiroshima and Nagasaki following the first and second nuclear attacks lends a physical manifestation to the idea that Japan was literally haunted by the ghost of the atomic bomb. It is important to acknowledge that the atomic bombs left behind permanent signs of impact that surpassed physical damage; lost in the calculations of casualties and blast radius was the psychological effect experienced by the victims of this unparalleled disaster. A dichotomy of sorts, the bomb appeared in a flash, incomprehensible, alien, and unknown, and left an emotional scar that manifested itself as the concept of the Hibakusha, which is directly translated as ââ¬Å"explosion-affected people.â⬠Through individual examplesâ⬠¦show more contentâ⬠¦Hara describes this transformation as ââ¬Å"time [that has] been constantly eyeing me and my fellow victims from a distance, awaiting its chance to drive us mad,â⬠and it is clear that for the Hibakus ha, the struggle to avoid this inevitable descent has already begun . While the two other pieces assigned for this class both touched upon certain elements of the attacks that Hara does not discuss, as a fourth-generation New Yorker who experienced the events of September 11th first hand, I was particularly struck with his portrayal of the ways in which the survivors of widespread disasters are often victims themselves. Much of the language used in the piece recalls New York City in the wake of the attacks: constant physical and emotional reminders of death, silent acknowledgment of shared suffering, and a larger desire to rationalize such irrational tragedy. In this course, we have examined many instances of the physical victims of the attacks, yet it is equally as important to consider the hibakusha, the survivors of the attacks whose lives metaphorically ended (or at least fundamentally changed)on that day as well. The tragedy and destruction of the attacks does not exist only in death tolls and collateral damage; it exists in the lives of those who were lucky enough to survive but not lucky enough to be
Two factors which affected the Stuart economy of 1600-1660 Free Essays
The Stuart economy is always difficult to analyse. Unfortunately due to incomplete records we only have a rough idea of the economic growth that England underwent during this era. For example we do not have fully accurate records that state the exact population size at the time. We will write a custom essay sample on Two factors which affected the Stuart economy of 1600-1660 or any similar topic only for you Order Now We also therefore do not have accurate records on the economy either but from parish records and events during this period it is still possible to make informed conclusions on what the economy was like, and the factors that stimulated it. The first thing that is important to study when discussing the economy is the population size. According to records found in parishes at the time population was generally on the increase and rose from 4 to 5 million between 1600 and 1660. However although the population did rise considerably it was certainly not a steady increase and went through phases of decline as well as increase. Surprisingly, according to information now available, some yearââ¬â¢s burial rates were actually higher than baptism rates, suggesting a population decline. However due to the fact that these records are sometimes incomplete it is not possible to give completely accurate figures about the changes in population during this era. Some historians argue that these changes in population growth point to the fact that the Stuart economy was vastly agrarian. This theory is widely accepted as being true, it successfully answers the reason for very drastic changes in the population size in some areas as agrarian economy can be easily dislocated by bad winters and poor harvests. Also the records of bad harvests coincide with drops in population during this period, suggesting that the economy of the Stuart era was finding it very difficult to keep up with demand. In order to combat this rise in demand, farmers would need to innovate and experiment with new crops in order to compete. Some historians argue that this period due to the population increase led to a ââ¬Ëfarming revolutionââ¬â¢ as there is evidence that many villages adopted the concept of enclosure in order to become more productive. This commercialisation of farming is thought by many to be more popular than the previously adopted method of subsistence farming. (Growing enough to feed you and your immediate family. ) This technique of enclosure meant farmers were able to be more productive and meet higher demands and is generally accepted as a more efficient system than subsistence farming. This enclosure method of once community owned fields is thought to be the start of early capitalism in England, the commercialisation of the fields is therefore thought to be brought about by the pressures of a population on the increase. But were farmers of this period willing to innovate, experiment and try new techniques? Evidence found in the diary of an ordinary farmer of the period is a strong argument that farmers were willing to trial new crops. Robert Loder left a diary concerning his farming and the changes he made to his techniques and crops. It is possible to assume that this ordinary farmer was one of many who experimented in order to boost their production. However it is still possible to argue that there was a strong amount of conservative farmers who did not adopt these new techniques but there is no evidence to suggest this. Some historians also use examples such as the adoption of tobacco crops in England as a key piece of evidence for how adventuress and innovative farmers could be once convinced of the potential of the new farming enterprise. Despite the evidence presented for innovation and experimentation there is strong evidence that suggests that farmers struggled to keep up with demand. Sources found for some areas of England suggest that there were huge rises in prices during this period due to inflation. This evidence is known as the Phelps Brown price index. Although this is one of the most commonly used sources, due to lack of information it only covers certain areas of England, mainly the south meaning that it is hard to generalise these price rises across England however it is the best information available. This rise in prices is evidence suggesting that the farmers of the Stuart economy had great difficulty despite all their innovation and experimentation to keep up with demand. However some historians still disagree. So the key question still unanswered is whether the farmers were able to keep up with constantly growing demand. Obviously it is highlighted by bad harvests how susceptible the agrarian economy was to very cold long winters and the obvious problems this could create. However equally it can be argued that through innovation and experimentation farmers managed to meet demand, however evidence of heavy inflation during the Stuart period leads many historians to the conclusion that resources were scarce and that the economy due to reliance on uncontrollable variables such as weather was not able to keep up with demand. However on the other hand it is argued by some that the farmers willingness to implement new techniques and methods of farming lead to increased productivity and was able to keep up with increased demand. However due to lack of concrete evidence this issue is still in many historiansââ¬â¢ opinions open to interpretation. Another key factor in the development of the Stuart economy was industry. Although industry only made up for around 10% of the economy it is still an important area to analyse to have a full understanding of the economic changes to took place in the Seventeenth century. Firstly it is commonly thought that the English industrial techniques were inferior to those of Europe. Most goods were thought to have been produced at home and sold locally. This technique of production suggests an undeveloped industry in England, however these limitations in manufacturing were overcome via exportation to the advanced Europe. The main industry in England at this time was textiles, located in East Anglia. In this period unfinished woollen cloth would be produced and then exported to other countries in order to create a finished product, such as the Netherlands who were thought to be the leading industrial nation of the times. The reason for exporting was purely because England lacked the techniques and resources to manufacture such products. As farming was the leading source of income in England it is thought that many industrial workers were involved in agriculture as well as the manufacturing of textiles. Although many combined farming with manufacturing and production some did seek industry as full-time employment usually through the ââ¬Ëputting-out systemââ¬â¢. Besides textiles England also produced coal, mainly mined in the north-east of England. As London grew in population the North East was able to produce more and more coal to meet demands, although limitations in technology prevented mining below the surface. However transporting vast quantities of coal is thought by many historians to have been a problem. Roads in this period were thought to be in quite a bad state, and therefore much of the coal mined was transported by sea. This transportation via sea is important. In order to transport such great amounts of coal England you would need a merchant fleet and Royal Navy to provide protection. Despite these measures the fleets that travelled between the North-East and London still suffered attacks during the wars England had with the Dutch. This is evident when we look at the prices of coal and see that prices doubled during this period suggesting heavy losses from attack. In conclusion it is probably right to suggest that industry looked for short-term solutions to meet the demands it faced, although no new techniques or technological advances are evident, this period did see the development of external trade, a key feature of the Stuart economy with the development of overseas colonies. However it can be argued that changes in agriculture and innovation were more significant, however it is still somewhat important to understand that the Stuart economy did not just rely on agriculture alone. How to cite Two factors which affected the Stuart economy of 1600-1660, Papers
Two factors which affected the Stuart economy of 1600-1660 Free Essays
The Stuart economy is always difficult to analyse. Unfortunately due to incomplete records we only have a rough idea of the economic growth that England underwent during this era. For example we do not have fully accurate records that state the exact population size at the time. We will write a custom essay sample on Two factors which affected the Stuart economy of 1600-1660 or any similar topic only for you Order Now We also therefore do not have accurate records on the economy either but from parish records and events during this period it is still possible to make informed conclusions on what the economy was like, and the factors that stimulated it. The first thing that is important to study when discussing the economy is the population size. According to records found in parishes at the time population was generally on the increase and rose from 4 to 5 million between 1600 and 1660. However although the population did rise considerably it was certainly not a steady increase and went through phases of decline as well as increase. Surprisingly, according to information now available, some yearââ¬â¢s burial rates were actually higher than baptism rates, suggesting a population decline. However due to the fact that these records are sometimes incomplete it is not possible to give completely accurate figures about the changes in population during this era. Some historians argue that these changes in population growth point to the fact that the Stuart economy was vastly agrarian. This theory is widely accepted as being true, it successfully answers the reason for very drastic changes in the population size in some areas as agrarian economy can be easily dislocated by bad winters and poor harvests. Also the records of bad harvests coincide with drops in population during this period, suggesting that the economy of the Stuart era was finding it very difficult to keep up with demand. In order to combat this rise in demand, farmers would need to innovate and experiment with new crops in order to compete. Some historians argue that this period due to the population increase led to a ââ¬Ëfarming revolutionââ¬â¢ as there is evidence that many villages adopted the concept of enclosure in order to become more productive. This commercialisation of farming is thought by many to be more popular than the previously adopted method of subsistence farming. (Growing enough to feed you and your immediate family. ) This technique of enclosure meant farmers were able to be more productive and meet higher demands and is generally accepted as a more efficient system than subsistence farming. This enclosure method of once community owned fields is thought to be the start of early capitalism in England, the commercialisation of the fields is therefore thought to be brought about by the pressures of a population on the increase. But were farmers of this period willing to innovate, experiment and try new techniques? Evidence found in the diary of an ordinary farmer of the period is a strong argument that farmers were willing to trial new crops. Robert Loder left a diary concerning his farming and the changes he made to his techniques and crops. It is possible to assume that this ordinary farmer was one of many who experimented in order to boost their production. However it is still possible to argue that there was a strong amount of conservative farmers who did not adopt these new techniques but there is no evidence to suggest this. Some historians also use examples such as the adoption of tobacco crops in England as a key piece of evidence for how adventuress and innovative farmers could be once convinced of the potential of the new farming enterprise. Despite the evidence presented for innovation and experimentation there is strong evidence that suggests that farmers struggled to keep up with demand. Sources found for some areas of England suggest that there were huge rises in prices during this period due to inflation. This evidence is known as the Phelps Brown price index. Although this is one of the most commonly used sources, due to lack of information it only covers certain areas of England, mainly the south meaning that it is hard to generalise these price rises across England however it is the best information available. This rise in prices is evidence suggesting that the farmers of the Stuart economy had great difficulty despite all their innovation and experimentation to keep up with demand. However some historians still disagree. So the key question still unanswered is whether the farmers were able to keep up with constantly growing demand. Obviously it is highlighted by bad harvests how susceptible the agrarian economy was to very cold long winters and the obvious problems this could create. However equally it can be argued that through innovation and experimentation farmers managed to meet demand, however evidence of heavy inflation during the Stuart period leads many historians to the conclusion that resources were scarce and that the economy due to reliance on uncontrollable variables such as weather was not able to keep up with demand. However on the other hand it is argued by some that the farmers willingness to implement new techniques and methods of farming lead to increased productivity and was able to keep up with increased demand. However due to lack of concrete evidence this issue is still in many historiansââ¬â¢ opinions open to interpretation. Another key factor in the development of the Stuart economy was industry. Although industry only made up for around 10% of the economy it is still an important area to analyse to have a full understanding of the economic changes to took place in the Seventeenth century. Firstly it is commonly thought that the English industrial techniques were inferior to those of Europe. Most goods were thought to have been produced at home and sold locally. This technique of production suggests an undeveloped industry in England, however these limitations in manufacturing were overcome via exportation to the advanced Europe. The main industry in England at this time was textiles, located in East Anglia. In this period unfinished woollen cloth would be produced and then exported to other countries in order to create a finished product, such as the Netherlands who were thought to be the leading industrial nation of the times. The reason for exporting was purely because England lacked the techniques and resources to manufacture such products. As farming was the leading source of income in England it is thought that many industrial workers were involved in agriculture as well as the manufacturing of textiles. Although many combined farming with manufacturing and production some did seek industry as full-time employment usually through the ââ¬Ëputting-out systemââ¬â¢. Besides textiles England also produced coal, mainly mined in the north-east of England. As London grew in population the North East was able to produce more and more coal to meet demands, although limitations in technology prevented mining below the surface. However transporting vast quantities of coal is thought by many historians to have been a problem. Roads in this period were thought to be in quite a bad state, and therefore much of the coal mined was transported by sea. This transportation via sea is important. In order to transport such great amounts of coal England you would need a merchant fleet and Royal Navy to provide protection. Despite these measures the fleets that travelled between the North-East and London still suffered attacks during the wars England had with the Dutch. This is evident when we look at the prices of coal and see that prices doubled during this period suggesting heavy losses from attack. In conclusion it is probably right to suggest that industry looked for short-term solutions to meet the demands it faced, although no new techniques or technological advances are evident, this period did see the development of external trade, a key feature of the Stuart economy with the development of overseas colonies. However it can be argued that changes in agriculture and innovation were more significant, however it is still somewhat important to understand that the Stuart economy did not just rely on agriculture alone. How to cite Two factors which affected the Stuart economy of 1600-1660, Papers
Human Resource Management Productivity Workforce
Question: Describe about the Human Resource Management for Productivity Workforce. Answer: Introduction Human resource management is a type of management in which the management of human resource of an organization is takes place. This function helps the organization to maximize the work from the employees of a company. HR management also guides to attain the goals and objectives of the company. The performance of the company is partially depends on the human assets that is working in the organization. So, it becomes more important to manage that assets in the most effective and efficient manner. In this way, the company can achieve the goals of the organization as well as the goals of the employees. The productivity and quality of the workforce is managed by the human resource department of the company. In this study we will learn that how the Tata motors Australia manages theory human resource to attain the objectives of the same. We will learn the in depth of the culture and the management of culture done by the HR of Tata motors. About the company Tata Motors Ltd. is a $ 42 billion company that is a leading global manufacturer of automobile that has a portfolio covering huge and wide ranges of cars, buses, trucks, sport vehicles, defense vehicles and many others. It is dealing with more than 175 countries that are using and dealing with Tata Motors Ltd. It was initiated by Jamsetji Tata in the year of 1868. The main spirit of him was to give back to the society and to bring a sustainable development in the world. It is the core philosophy of the owner of Tata Motors Ltd. it is one of the largest company of India. They provide their customers a special kin do of legacy of an effective leader. They try to maintain a standard in their products like luxury, comfort, updated technology, connectivity, performance, etc. This company is a future ready company due to which they are the most prominent players in vehicle industry (Bowonder, 2004). Culture and management behavior of Tata Motors Ltd The Tata Motors Ltd. believes on four type of cultural management characteristics for the company. They are written as below: Adaptability- It refers to the capacity of the company to adapt and make the demands and supplies of the market. There are few reasons due to which the capacity of adaptibility of Tata Motors Ltd. is affecting. They are the ability and capacity to realize and react against the external environment of the company. Secondly, the internal factors on which the organization reacts and the third one is the arrangement and reorganization of the company and structure so that Tata Motors Ltd. can adapt the coming and challenging situations (Virani, 2011). Constancy The strong culture of an organization is made through a strong values and systems of the company. It helps Tata Motors Ltd. to consolidate and harmonize the organization and its performance. It can be developed through the coordination n cooperation of the employees and the board members. It has a great impact on the orgnaistaion as it helps to integrate, coordinate and to learn the core values of the company (Armstrong, 2011). Involvement It refers to a situation when the employees and the other members feel responsible and relevant for the organization. It can be achieved through employment, development for the employees, orientation of the teams, etc. (Noe, 2007). Missions The long term path o the organization is termed as missions. It helps to accomplish the goals of the organization and to attain them as efficiently as possible (Program boosts the prestige of training at Bentley Motors, 2006). Global corporate social responsibility Tata Motors Ltd. is very committed to the corporate social responsibility that links to the global boundaries. The initiatives taken by the company are in the span areas of healthcare, education, conservation of resources, environment and employability. The sustainability of Tata Motors Ltd. tries to bring sustainability in the development of the company. They always focus on the value creation for the long period of time, controlling the economic, political, social, intangible and environmental working of the company. They also focus o the demands of the customers and tries to fulfill them so that they can remain satisfied (Torrington, Hall and Taylor, 2008). They provide their global corporate social responsibility in the key areas that are mentioned below- Education is one of the major field in which there is need to donation and help is required. This company provides scholarships, facilities of improvement and infrastructure to the institutions and students so that there will be a great assessment on education can take place. They also implement some extra-curricular activities so that there will be overall development can takes place. Tata Motors Ltd. also promotes many employment activities to generate employment as they take initiatives of learning, training and personal development programs for the candidates who are looking for the job. Conservation of environment is also a key factor where Tata Motors Ltd. provides their volunteering (Daniel, 2011). Multi-national competitive Tata Motors Ltd. has a strong presence in the vehicle industry and it is one of the key manufactures and industrialist of vehicles and motors. It has markets hares of 64 % or even more than that if we calculate the revenue, ha it has the highest revenue in India and the revenue is 123133.30 crores in the year of 2011. Tata Motors Ltd. is a leading manufacturing company of commercial vehicles that has products o compact size, midsize and also the utility segmentation of vehicles. This company is a customer-driven and customer oriented company that always tries to take care of its customers and their taste and preferences (Adhegaonkar, 2014). Conclusion Every company has a separate department for human resource management as it is the most vital part of organization. It assists the organization the ways by which company they can optimize the use of not only the natural resources but also the human resources. HR management also guides to attain the goals and objectives of the company. The performance of the company is partially depends on the human assets that is working in the organization. This study has explained about the importance of HR in an organization. The sustainability of Tata Motors Ltd. tries to bring sustainability in the development of the company. They try to maintain a standard in their products like luxury, comfort, updated technology, connectivity, performance, etc. This company is a future ready company due to which they are the most prominent players in vehicle industry. References Adhegaonkar, V. (2014). Determinants of Capital Structure in Indian Automobile Companies: A Case of Tata Motors. ANVESHAK-International Journal of Management, 3(1), p.182. Armstrong, M. and Armstrong, M. (2011). Armstrong's handbook of strategic human resource management. London: Kogan Page. Bowonder, B. (2004). Concurrent engineering in an Indian automobile firm: the experience of Tata Motors. International Journal of Manufacturing Technology and Management, 6(3/4), p.291. Daniel, A. (2011). A Study on Financial Status of Tata Motors Ltd. IJAR, 3(4), pp.320-322. Noe, R. (2007). Fundamentals of human resource management. Boston: McGraw-Hill/Irwin. Program boosts the prestige of training at Bentley Motors. (2006). Human Resource Management International Digest, 14(2), pp.8-10. Torrington, D., Hall, L. and Taylor, S. (2008). Human resource management. Harlow: Financial Times Prentice Hall. Virani, D. (2011). Sustainable Growth Rate: Refining a Measure a Case Study of Tata Motors and Maruti Suzuki. IJAR, 3(4), pp.317-319.
Friday, May 1, 2020
Pseudonym to protect privacy and confidentiality â⬠Free Sample
Question: Discuss about the Pseudonym to protect privacy and confidentiality. Answer: Introduction John (Pseudonym to protect privacy and confidentiality) was admitted voluntarily to a community care unit/psycho-social rehabilitation following a referral from the GP due to respite for parents. John was diagnosed with Schizophrenia (schizo-typal traits) and OCD, which was characterized by demotivation, low self-esteem, social withdrawal, anhedonia, negative view of self and ritualistic behavior. This case study presents, beginning with initial assessment, both subjective and objective data that were collected using mental state examination, following DSM-V and NANDA diagnosis. The preliminary findings were used to formulate a collaborative, evidence based recovery for future focused plan. The recovery plan is presented in a logical order: planning and implementation, expected outcomes of care, and finally evaluation and outcome measurements based on Johns objective data (Carey, 2016). Assessment In order to attain a holistic insight of Johns mental state, assessment was performed which included mental state examination, community risk and assessment plan, alcohol and other drug assessment, and behavioral and symptom identification scale (BASIS-32) (Dwyer, 2012). Johns current medication included Risperidone (Risperidol consta) 37.5mg IM injection depot for every two weeks. Although John was recommended to take ZOLOFT (OCD traits) tablets, he declined due to side-effects of the drug. Mental state Exam Being a Greek, the 34-year-old John was dressed in a color t-shirt and cargo pants with small stains on color appropriate for weather. John appeared to be thin, having poor personal hygiene, rigid posture, poor eye contact and greasy hair. John could be described as Im doing laundry and shower once every two days. He looked anergic and walked very slowly, while the psychomotor retardation was a times slow to initiate tasks. Johns speech was slow in rate, soft, audible and answered to all the questions in a polite manner. Throughout the conversation, John seemed to be inactive in the interview. Johns mood was euthymic, hyper vigilant, non-depressed and mildly anxious. His affect was blunted since he had a very low facial expression, anhedonia, reactive and inappropriate gestures and wanting to pinch his cheeks every time and then throughout the conversation. However, Mr. John did not present any formal thought disorder although he was obsessed with cleaning vegetables and checking loc ks frequently. He also had some persecutory delusions because he occasionally stated that someone is following when I go out. John was also isolated, self-neglected and stayed in his bedroom for many hours, socially withdrawn without any friends. He usually reported that he used to isolate himself in his room since he was alert and oriented in terms of person, place, time and the environment. This patient also experienced difficulties in performing day to day life routines, household responsibilities and thus he had to be prompted severally, in order to get on board. He was also not impulsive and hence did not present with any perception disorders. John was dependent on his parents and he was poor in solving problems and making decisions. Risk assessment The community and risk assessment plan was used to assess the general vulnerability, dynamic risk, statics and falls, and nutritional risk. The general vulnerability of Mr. John included a history of childhood trauma and a record of being bullied at school. Rumination on events resulted in significant self-neglect, poor self-care and social withdrawal. John was isolative and never received any social support including from friends and he reported I feel fear when I come out and I feel someone is following. John had also been charged by the police for removing license plates from a police vehicle. As a result of the persecutory ideas towards the police, John stated The police will be here at any time to take me away. However, this patient never had no known history of suicidal injury, deliberate self-harm or past attempts, and current thoughts of suicide or self-harm. Moreover, John was a non-smoker, non-alcoholic and non-drug abuser. Physical health The head to toe assessment was used to obtain the data, whereby Johns vital signs were found to be within the limits (100% SpO2, 18 breaths per minute, 70 beat per minute, blood pressure 120/ 70 mmHg, and temperature 36.4C). Additionally, John never experienced any pain, and the BMI was 22, and hence considered to be normal based on Reinders et al., (2015). He neither had any abnormalities in gastrointestinal, respiratory and cardiovascular systems, nor did he present any pressure injuries or wounds on the skin. Diagnosis By use of the Diagnostic and Statistical Manual of Mental Disorders, Johns presentation [Appendix-I], provided the requirement for diagnosis of schizophrenia disorder (American Psychiatric Association, 2013). John had this diagnosis for past 10 years, and was dependent on his parents since he was described as I hope to become more independent, because my parents are very protective and do things for me. He also expressed his desire to regain mental wellbeing and stated that I want to be more motivated and possibly take on another study course in future. John had some persecutory delusions and negative symptoms of schizophrenia since he was amotivated, and asocialite. He also had negative views about himself and others including anhedonia secondary to schizophrenia disorder, which could be related to childhood trauma. The Northern American Nursing Diagnosis Association taxonomy of nursing diagnoses 2015-2017 (Herdman Kamitsuru, 2014) was applied to the nursing process to identify one problem or issue in this patients. Social isolation was one of his problems and was evidenced by assessment, subjective and objective data. John had difficulty in reality, establishing relationship, and false belief about the intension of other people on him. Planning Implementation In order to achieve Johns goals for his problem of social isolation, nursing interventions were required to make a plan using the SMART (specific, measurable, achievable, realistic and timely) approach (Revello Fields, 2015). It was evident that Johns mental state was greatly affected by childhood trauma and bullying at school. Social isolation is positively correlated with schizophrenia such as low self-esteem, anhedonia and asociality (ref). Based on Johns presentation, it was required that nursing interventions were to be collaborative with John, so that a recovery-focused wellness plan could be developed to keep him safe. Group activities The group activity used in this case was gathering, whereby John expressed that he would be interested in making friends and stated I want to see myself as a friendly person and show an interest in other people. Based on his preferences, group interventions with problem-focused and goal-oriented activities were suggested, in an effort to alleviate social isolation and loneliness (Henderson). This intervention was given by nurses in collaboration with occupational therapist and social workers (ref). The group activities were realistic, and thus John was encouraged to engage with other clients. He was therefore asked to participate in activities such as card games, group outings, community meetings, walking in groups and cooking a meal. John was prompted more to get on to board as he was a slow learner and took long time to initiate a task. John was thus required to be educated to improve significant social interactions by participating in group activities. He was also advised on how t o establish rapport and show positive regard towards other people and seek for help whenever he needed support in various activities (Prokofieva). Gardiner reported that group-based activities make clients to continue feeling safe and competent during interactions. Furthermore, on long term management, clients will demonstrate willingness and desire to socialize with staff and co-clients and voluntarily participate in group activities without prompt Ojengbede. Social skill training Social skill training is an education which teaches necessary skills for effective communication with others (ALLY). John was encouraged to attend social skill training which helped to learn adaptive social skills. John was to be trained in an environment that was free of any stimuli like loud noises and high traffic (lauren), to avoid deviation of his training. Initially, John would aim to learn simple basic behaviours like maintaining good eye contact, keeping appropriate distances, appropriate behaviour, effective communication and making simple decisions. This therefore encouraged John to do rehearsal and role-play the skills which involved practicing and positive reinforcement (ally). Moreover, John would adapt and function at a higher level in the society to improve the quality of his life. However, John took time to adapt these skills because of his negative symptoms of schizophrenia. Pfammatter reported that these skills increase self-confidence, self-esteem and positive resp onses from others. The outcome was that John improved social interaction with family, friends and relatives. Evaluation and expected outcomes Short term goal for John were to engage in one activity accompanied with trusted nursing staff and attend at least one therapy by the end of day within one week. He was also to maintain interaction with other consumer while playing, drawing or cooking a meal. Long term goal for John were to spend time with other clients voluntarily in various group activities to show interest in coping skills. He would also be comfortable in talking and avoid spending more hours in his bedroom. This goal is realistic and may be achieved within a period of six months to one year. The basis-32 and adult well-being scale would be assessed to find any improvements in behaviour or daily living activities. However, social skill training and group activities helped to improve Johns status more independently and lower asociality. Outcome assessment The main issue with John was social isolation and the combination of group activities and social skill training interventions helped him in developing interpersonal and social skills. Outcome assessment for these interventions were adult well-being scale and behavioural and symptom identification scale (BASIS-32), and recovery. The wellness plan and monitoring of mental change every month was necessary with an occupational therapist, social worker, psychologist and psychiatrist. John currently had little difficulty in performing day to day life activities, household responsibilities, relation with family members, and isolation/feeling of loneliness. He had improved in self-care and independent in performing tasks but needed to be prompted for once. John had recently enrolled in TAFE program, criminal justice and started working for four hours in his brother in laws warehouse. Finally, subjective data of recovery stated that I feel more confident doing house chores and cooking and I w ill remain active and try to pass my exams in future. Conclusion John was referred to a community care unit by treating team with a diagnosis of schizophrenia, where social isolation was a current issue. The nursing process involved assessments such as mental state examination, risk assessment and physical health to form a nursing diagnosis. Based on the John preferences, collaborative recovery-focused interventions such as group activities and social skill training were framed to achieve goals. To improve social interaction, alleviate social isolation and keep him safe, these evidence-based interventions were used. His intervention plan provided reasonable outcomes which had improved his wellbeing in the community.
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