South African Investment free essay sample

Utilitarian benefits of building the Caltex plant in 1977 When Texaco and SoCal decided to build there refinery plant, Caltex, in South Africa in 1977, there was much to consider. First of all, the South Africa was ruled by government upheld apartheid legislation. According to the textbook, Business Ethics: Concepts and Cases, the apartheid system, â€Å"deprived the entire Black population of all political and civil rights: They could not vote, could not hold political office, could not unionize, and had no right to freedom of assembly,† (Velasquez, p. 8). Despite this obstacle, Caltex was built and began operations. Caltex believed that by opening operations in South Africa they could provide the people with some economic opportunities that they could not have if they did not. According to the case study, â€Å"the managements of both Texaco and SoCal argued that Caltex was committed to improving the economic working conditions of its black employees and their continued pre sence in South Africa did not constitute and ‘endorsement’ of South Africa’s ‘policies’,† (para. We will write a custom essay sample on South African Investment or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page 5). By declaring that there presence in South Africa was in no way evident in support with the government policies, Caltex gave the impression of a utilitarianism approach. According to the textbook, utilitarianism is â€Å"a general term for any view that holds that actions and policies should be evaluated on the basis of the benefits and costs they will impose on society,† (Velasquez, p. 61). Caltex upheld the belief that the benefits they provide to its employees outweigh the fact that they are conducting business in an oppressed nation. In my opinion, I think that that the benefits outweighed the negatives. Even though the South African government was morally wrong for oppressing the majority of its citizens, Caltex brought an opportunity to the region that had the promise of not only economic promise for the organization, but also the opportunity to show the people of South Africa what it is like to be equal and not discriminated. Also, there presence no doubt brought on political change and opened the eyes to the other nations of the world as to the oppression present in South Africa. If I were a stockholder in Texaco or Standard Oil Despite of all the benefits and the promises that Caltex could have provided to the people in South Africa, the shareholders still encouraged management to withdraw their operations from South Africa. As a result, the stockholders proposed three resolutions to which they would vote on and decide the future of Caltex’s operations in South Africa. The first resolution (A) was asking Caltex to terminate its operations in South Africa. The second (B) asked Caltex not to sell to the military or police of South Africa. The last resolution (C) asked Caltex to implement the Tutu principles. As a stockholder in this organization (hypothetically speaking), I would vote on these three resolutions as either in FAVOR or NOT IN FAVOR. Here is what I would vote on and why. A. NOT IN FAVOR. As I have already described in the previous section, I would not be in favor of Caltex terminating its operations in South Africa. I do think the what the government is doing in regards to how they treat its citizens is morally wrong, I believe that Caltex has the moral responsibility to remain in South Africa and provide its employees the opportunity to have the freedoms that they themselves have established as employers. B. NOT IN FAVOR. According to the case study, asking Caltex to not provide petroleum to the South African military would be considered a serious crime. It states, â€Å"it would be a crime under South Africa’s law were Caltex-South Africa to undertake a commitment to not supply petroleum products for use by the South African military or any other branch of the South African Government,† (para. 21). Voting in favor for committing a crime would be morally irresponsible on my part. I believe that as a shareholder invested in my company, I would want to portray us as a responsible organization that will work with the host country to find a common ground rather than be charged with a serious crime. C. FAVOR. Tutu’s principles are something that I would definitely be in favor for. According to the case study, Bishop Tutu’s principles â€Å"outlined several conditions of the investment which would enable Caltex and other U. S. companies to make such a ‘positive contribution to improving economic and social opportunities’,† (para. 4). These principles would be exactly what I would like my company to portray because they contribute to human rights and equal opportunities to all races. Manager’s responses In regards to the resolutions proposed by the stockholders, I believe the manager’s responses should be as follows: A. The manager’s should have also not been in favor of this resolution. In this case, the manage ment needs to consider that the utilitarian benefits do actually outweigh the negatives and oppression the South African government has over its citizens. B. The manager’s responses to this resolution should be weighed very carefully. Even though they may not agree with the practices of the government and may think they are an aid to unwanted practices, they still need to consider there reputation and the consequences that can result from not being cooperative. In my opinion, the manager’s should have responded by communicating the need to work with the government to their stakeholders as well as find some type of resolution with the government. C. The management should embrace the Tutu principles. If the management is really dedicated to the ideals and principles of their institution then they should know that these principles are about the people and their well-being. They should make any adjustments necessary to make sure the principles are upheld. Management responsibilities (i. e. , duties) In my opinion, I believe the management of a company does have the responsibility beyond ensuring a high return for its stockholders. In this case, the responsibility of the management is to make sure that the principles and business ethics that they have developed as an organization is upheld at all costs. Just because the stockholders wanted to see their company disassociate themselves from a country that they did not see as ideal, it is still imperative that the management stick to there own ideals and principles regardless of where they are. On the other hand, I do not believe that the management of a company should look primarily to the law and to the rate of return on its investment as the ultimate criteria for deciding what investments it should make. Companies should always consider the economical and social circumstances in the region to which they decide to invest their company. Conclusion This paper outlined why I believe the utilitarian benefits outweighed the negative circumstances for the building of Caltex in South Africa. I have also provided my own views as to what I would do if I were a stockholder in the company as well as what the manager’s should have done in response to the resolutions. Finally, I gave my point of view as to what the manager’s responsibilities are when dealing with stockholders and investments. Caltex was in a difficult place as they had to deal with their stockholders and the government of South Africa in order to conduct their business, but the most important thing they had was the opportunity to show the oppressed people of South Africa what it was like to be an equal member of an institution.

Definition Essay

Definition Essay Definition Essay-Haole Kayla-Brittney Yim R. Nelson EN 101 September 24, 2013 Hawaiian Slang â€Å"Eh you stupid â€Å"â€Å"haole†Ã¢â‚¬ !† Why do most of the people in Hawai’i use â€Å"haole† as a slang word? The term â€Å"haole† or â€Å"without breath† originates from the Native Hawaiian culture. The Hawaiian’s used the â€Å"ha† or the breathe of life as a greeting to others of the Hawaiian culture. In today’s society most people of the Hawaiian Islands use it as an insult or slang to foreigners. What is the real context behind the word â€Å"haole†? The Merriam-Webster dictionary defines â€Å"haole† as â€Å"one who is not descended from the aboriginal Polynesian inhabitants of Hawaii; especially: white.† This term was first associated with the children of the Caucasian immigrants in the early 1820’s. Queen Liliuokalani, the Queen ruler of the Hawaiian monarchy at that time was illegally overthrown from her reign as a monarch of the islands. This event started the rivalry between the Native Hawaiians and nay foregners that step onto their land. In today’s society the people of Hawaii who believe in the native Hawaiian history, sometimes use it as an insult to white foreigners. A simple â€Å"I hate â€Å"haole’s† or â€Å"Go back to the mainland you stupid â€Å"haole’s!† are insults used when a white person does something to upset a Hawaiian. I strongly believe that the Hawaiians are very protective of the history and culture. As evolution evolves, Hawai’i is slowing becoming more of a mainland-based island. With the amount of pure natives decreasing, the islanders are driven to keep the culture strong. From a friend’s experience, she feels that being insulted by Hawaiian’s makes her feel uncomfortable. While speaking with Haley, she stated, â€Å"I don’t feel like I can fit in with some of the Hawaiian people that I see. Being from Washington, most people tease me because I act differently. Most of the Hawaiians feel that I’m trying to change their ways and their culture. They think that I’m trying to take over their land.† This interview alone shows that most Hawaiians want the islands to themselves. Every foreigner is automatically stereotyped by the Hawaiian. This should not be occurring to people who do not deserve it. Personally, I feel that native Hawaiians should not use â€Å"haole† as an insult to foreigners. Yes, I believe in the Hawaiian culture and I can relate to the overthrow of the Hawaiian kingdom but the islands evolved over time. I feel that the people of Hawai’i have to accept the change and adapt to the change that occurs to the islands. After all, the tourists or â€Å"foreigners† that comes to the Hawaiian Islands basically fund Hawai’i. Hawaii is one of the top vacation destination that most dream of visiting. I see it as if they were helping the islands prosper. I do not necessarily agree on the new mainland agencies that are buying out some of the stores and what Hawaii has to offer of the Hawaiian culture. I also do not agree with some of the changes that the government is making which is under rule by a white male. I think that is why

How To Say Both in Spanish

How To Say Both in Spanish There are various ways of expressing the idea of both in Spanish. Translating Both Meaning Too Most of the time, both simply means two and functions as an adjective or pronoun. In such cases, you can translate both as either ambos (ambas in the feminine) or los dos (las dos in the feminine). The two terms are almost interchangeable; ambos is somewhat more formal. Here are some examples: Los dos se abrazaron. (Both hugged each other.)Las dos cartas escritas desde Calabria reflejan la misma bondad. (Both letters written from Calabria reflect the same kindness.)A los dos nos duele la cabeza si tenemos hambre. (Both of us have a headache if were hungry.)Los dos là ­deres de Al Qaeda ms buscados en Irak murieron durante una operacià ³n militar. (Both of the most-wanted leaders of Al-Qaida in Iraq died during a military operation.)Ambos creyeron poder demostrar la existencia de Dios. (Both believed they could demonstrate the existence of God.)Me gustarà ­a mucho leer ambos libros. (I would very much like to read both books.)Ambas dijeron que no volvern nunca ms al Perà º tras esta amarga experiencia. (Both said they would never return to Peru after this bitter experience.)Ambas opciones son buenas, y a veces no prefiero ninguno. (Both options are good, and sometimes I dont prefer either one.) Note that in each of the above examples, ambos or los dos also could have been translated as two or the two. Translating the Emphatic Both There are many cases where both isnt the equivalent of two, usually when it is used for emphasis. Theres no one set way to express the concept; you need to look at the sentence to determine the context and develop a translation in that way. Here are some examples; note that the translations given arent the only ones possible: El aprendizaje es una asociacà ­Ãƒ ³n en el cual tanto el maestro como el estudiante juegan un papel dinmico.  (Learning is a partnership in which both the teacher and the student play a dynamic role.  Here, both adds emphasis, indicating that the teacher, as well as the student, play a role.)Queremos comprar una casa grande y adems barata. (We want to buy a house that is both big and cheap. The use of both suggests that the two qualities normally dont go together and thus adds emphasis. Here, adems, which usually means also, fulfills a similar function.)Pablo y Raà ºl tienen sendos hematomas que estn siendo tratados. (Pablo and Raà ºl both have bruises that are being treated. Both is used here to clarify that each of the victims, not just one of them, is bruised. Sendos is an always-plural adjective often translated as respective or his or her own and is used here to provide a similar meaning. Sendos or sendas can also refer to more than two.)Hubo errores de uno y otro lado e n el conflicto. (There were errors on both sides of the conflict. Both is used to emphasize the existence of a contrast, which uno y otro also does.) No es posible perder peso y comer lo que te gusta al mismo tiempo. (It isnt possible to both lose weight and eat everything you want. Both here suggest that two actions are being done simultaneously. Al mismo tiempo means at the same time.) Translating Common Phrases With Both At least English phrases or idioms with both have Spanish equivalents. Both sides, when referring to opposing sides of an argument or position, can be translated idiomatically with las dos campanas, which means literally both bells. Siempre oigo las dos campanas antes de hacer un juicio. (I always listen to both sides before making a judgment.)Creo que nuestros servidores pà ºblicos no escuchan las dos campanas. (I believe our public servants arent listening to both sides.) The best of both worlds can be translated literally as lo mejor de dos mundos or loosely as lo mejor de cada casa (literally, the best of each house). Este vehà ­culo ofrece lo mejor de dos mundos, la deportividad de un coupà © y la espaciosidad de un SUV. (This vehicle offers the best of both worlds, the sportiness of a coupe and the space of an SUV.)Brasil es in paà ­s multicultural que tiene lo mejor de cada casa. (Brazil is a multicultural country that has the best of both worlds.

Research proposal Example | Topics and Well Written Essays - 250 words - 2

Research Proposal Example Critically ill adults in 8 intensive care units will be enrolled within 24 hrs of intubation in the research with 2 x 2 factorial design. The 2 x 2 factorial design implies that the patients will be divided into two equal groups each comprising of 250 participants. The control group is subjected to tooth brushing technique and the other group antiseptic agent (Chlorhexidine). This number of patients will satisfy the ratio of 30 individuals per variable. Patients excluded from the research are those with a clinical diagnosis of pneumonia at the time of intubation (Munro, Grap, Jones, McClish & Sessler, 2009). The development of VAP will be determined through the use of CPIS (Clinical Pulmonary Infection Score). The rationale for setting this location is to obtain reliable information about prevention of VAP in critically ill adults in the ICU environment. The sampling strategy in this research proposal is probability sampling and in specific the technique employed is the criterion. Probability sampling is the most valid strategy to attain statistical generalization (Gerrish & Lathlean, 2015). Criterion sampling is carried out on the basis of one or more standards for selection. For instance, in this case, the focus is on the use of a toothbrush and antiseptic agent (Chlorhexidine) on critically ill patients in the ICU. Moreover, this strategy will assist to choose participants that are capable of giving results of this research on aspects of prevention of VAP in ICU using oral care hygiene that is poorly understood (Boswell & Cannon, 2014). The research design for this proposal is a parallel trial design. In a research using this design, the parallel groups’ investigations are not limited to a specified period, but rather until either of the treatment group exhibits a clear benefit. These experiments last until the time one treatment is more effective than the other (Gallin & Ognibene, 2012). In this case, the design will investigate the

Business case for an IT Solution for solution to a real healthcare Research Paper

Business case for an IT Solution for solution to a real healthcare issue in Population Healt Management - Research Paper Example This has made it hard for the organizations to meet their set goals or targets. Even though the EHR (Electronic Health Records) provides many of the health facilities with clinical data in raw form, there have still been some challenges. The challenges include ensuring that the data is accessible and the same time usable. An additional challenge has been reporting the outcomes of the data that has been accessed and used (Health Catalysts, 2015). According to WPRO, the integration of information systems in the health sector can be defined as, â€Å"the process of combining different components of health information systems so that they function in a more coordinated and unified manner† (Lum, Bennet & Whittaker, 2009). Information technology can be used to integrate and share the data in the health sector. The data integration can occur in different number of levels in the system of health information. These levels include: contents, data management, data quality assurance and analysis, organization support, data dissemination and sharing and donor inputs. The contents include the information or indicators while the data management involves the information technology use with a central repository. Quality of data assurance and analysis include the use of statistical and analytical techniques that are standardized. The organization support entails capacity building and training of the human resource. The sharing and dis semination of data is where there is the use of visual analytics. The donor inputs entail and not limited to, resource sharing. The art of integration of data entails effort being put in place to link data elements that are independent. The different sources of data that have different types of data or media of storage are integrated to develop new information. This is made possible through the use of information technology in the health facilities. Data integration covers all data handling

Limitation of GDP as a Measure of Economic Welfare

Limitation of GDP as a Measure of Economic Welfare Introduction There are various different indicators used by the economists to measure the development of the economy and GDP should be the one most commonly used in practice. It could reflect the quantitative changes of the economic development, but its qualities. The limitation of GDP in this area prevents it from measuring the economic welfare people get. This essay will discuss how GDP is calculated and the limitations of GDP in measuring the economic welfare. There will be also the introduction of the replacements of GDP which are developed to measure the economic welfare. The Concept of Gross Domestic Products (GDP) and Its Calculation GDP is the abbreviation of gross domestic product. It refers to the market value of all the final goods and services produced by one country or region with the production factors in one year or in certain period of time (Gutierrez et al., 2007). It was first developed by the economist Simon Kuznets in the 1930s and has been gradually used by the governments of various countries to measure the total value of the output of the economy after the Second World War. Since then, GDP has been the indicator for the measurement of development level of the economy. It is an important index of the general situation of the macroeconomics, which reflects the developments of the economy. GDP belongs to the field of the measuring of the aggregate economy. There are mainly three methods to calculate the value of GDP, namely, the production approach, the income approach and the expenditure approach. They reflect the results of the national economy from different views. The production approach calculates the economic results by summarizing the total output values of all the sectors of the economy and subtracting the value of all the intermediate goods. The approach only includes the value added in the production process, so it is also called the value added approach (Viet, 2009). The second method is the income approach. It focuses on the income generated in the production process. Various production factors are involved in the production process and they can get the income per their relevant contribution to the economic activities. The summary of all the incomes of the various production factors is the result of the economic activities. For example, labors and capitals are the main factors used in the production. So their incomes, the wages and the interest constitute the main part of the GDP calculated by theincome approach (Viet, 2012). The expenditure approach calculates the GDP from the view of the final usages of the products and services. The results of the final products and services usually include two main parts, the consumption and the investment. And consumption covers the need from the household sectors, the government and the foreign consumers. So in the expenditure approach, GDP includes the household consumption, the investment, the government spending and the net exports. In practice, the expenditure approach is most common method used by the government of countries in the world. (Viet, 2011) The Limitations of GDP The changes of GDP could reflect the trend of the economic development and most of the countries consider the increase of GDP as the targets of the economic growth. Although GDP has been used widely as the indicator to measure the development level of the world economy, there are inherent limitation and weaknesses in this method that prevents its wider use in the economic growth. And it particularly reduces the efficiency of GDP in evaluating the economic welfare. The main limitation of GDP is that it does not reflect all the contents of the economic activities, which weakens the role of GDP as the indicator of the economic welfare. GDP cannot reflect the overall situation of people’s welfare Generally speaking, the economic growth could bring the increase of people’s income, as well as their economic welfare. The per capita GDP is usually used to indicate the average level of people’s income in the countries. And it is also used to classify the counties of their economic development levels. But it cannot reflect the differences of the people’s welfare caused by the differences of income distribution. For example, for the man having no money at all, he could become a billionaire in terms of the per capita GDP when there is only he and Bill Gates in his country. But he is not likely to enjoy the same welfare as Bill. So GDP, or the per capita GDP masks the real situation of the welfare people really get (Bà ©renger and Verdier-Chouchane, 2007). Besides, there are plenty of things in people’s welfare, not just the economic one. The leisure and family pleasure are also very important part of the welfare. People would have little time to spend with families when they are busy in producing the final products and services. The increase of the GDP does not mean the increase of people’s overall welfare. The non-market economic activities Besides, what GDP does not cover is the non-market economic activities. Per the concept of GDP, it reflects the market values of the final products and services. For the products and services that are not exchanged on the market, their values are hard to evaluate. For example, the household works finished by the full-time housewives, like cooking, cleaning, and taking care of the olds and children, are not paid in by the family. So they are not included in the calculation of GDP. But if these works are done by the baby-sitters who hired and paid by the families, they will be covered by GDP, since they have the market values. In the developed countries, there is a high level of the marketization of the housework. The children will be sent to kindergartens, olds to the nursing home. People have more chance to eat outside instead of cooking home. All these works will be calculated in GDP. But in the developing countries, most of the housework is finished by the numbers of the family. An d their efforts are not recognized by the market and the GDP. The same household works will make different contributions to the calculation of GDP in different countries. But for people no matter in the developed countries or the developing ones, these works increase their welfare (Bridgman et al., 2012). In the calculation of GDP, the lack of these non-market economic activities reduces the ability of GDP to give a full reflection of the economic activities. So it could not tell the complete welfare people get from the economic activities. GDP does not reflect the quality of the economic development What people could get from GDP is just the number of the value added in the given time. It only reflects the number changes of the output of the economy or the quantitative growth of the economy. The quality of the output and the economy cannot be answered by this indicator. And the growth of GDP does not equal with the economic growth, since the economic growth also contains the improvement of the economic quality (Costanza et al., 2009). For example, the increase of GDP could not tell how the economy grows. There are usually three driven forces of the economy, the consumption, the investment and the exportation. If the increase of the GDP is caused by the consumption from the household sector, the quality of the economic growth could be considered as a good growth. But if it is mainly driven by the investment, especially the one in the real estate market or the infrastructures, the quality of the economic growth is worth to worry, since this kind of growth cannot sustain for a long time. The investment only increases the number of GDP, but not the welfare people could get. When using GDP as the main indicator to assess the economic growth, there would be some strange things in the development plans and practices of the governments. They would have the motivation to investment huge funds in the building of the infrastructures, like roads, railways and airports, since these projects would generate great increase of GDP. And they don’t have to consider whether these projects are needed or not, which could cause the waste of the social and economic resources. Besides, accidents would be welcomed by the governments, since they also can increase the GDP. When there are accidents, the new vehicles or properties will be needed to replace the ones damaged in the accidents, which means the increase of the final products and services. But people’s welfare does not see any increase in these activities (Costanza et al., 2009). What GDP provides is just the cold numbers about the amount changes of the economy. It cannot reflect the quality of the economic growth. The environment cost and pollution Except for the limitation in calculating the complete contents and quality of the economic growth, GDP also cannot reflect the hidden costs of the economic growth, particularly the environment cost of the economic activities. GDP only covers the costs that could be exchanged and valued in the market. These environment costs, like the environmental disruption and pollution, usually cannot be valued in the market and they are not calculated by GDP (Costanza et al., 2009). When developing the economy, it is needed to consume the natural resources from the environment. But the resources are limited. The excessive usage of the recourses in the current economic activities could bring the negative influence on the future development. And the economic growth is not sustainable in this model. But this cannot be reflected by GDP. Meanwhile, economic growth could cause the environmental disruption and pollution. These are also the costs of the economic growth. However, they are not included in GDP, since Mother Nature does not charge the price in humans’ economic activities. And the stupid humans will not calculate these costs until they pay for it. The Replacements of GDP The limitations of GDP mentioned above have been exposed in practice and there have been some other indicators developed to replace GDP. These replacements of GDP make up the limitation of GDP in evaluating the welfare people get in the economic activities and help people to have a better understanding of the welfare people get from the economy. In this process, there are main two directions for the measurement of the economic welfare. One direction is to measure the total level of the economic welfare. This method is easy to measure and the result could reflect the differences between different countries. The second direction is to get the per capita level of the economic welfare. These two directions could be seen as the same one, since it is easy to get the per capita results when people get the total level of the welfare. The GNI-Lorenz curve Since GDP cannot reflect the differences of the national income distribution, the Lorenz Curve is then developed to indicate the condition of the income distribution. It is developed in a coordinate system with the percentage of income and households as the axis. It reflects how the wealth of one country is distributed among the households. People could find the level of the inequality in the income distribution per the camber of the Lorenz Curve (Helene, 2010). The gross domestic income (GDI) The gross domestic income or GDI is another indicator used to reflect the condition of the economy. It calculates the income generated by the economic activities, which includes the compensation of employees, the gross operating surplus and the gross mixed income. This indicator could be seen as the version of GDP calculated in the income approach (Fixler, Greenaway-McGrevy and Grimm, 2011). Since people’s welfare is largely influenced by the income level, so the changes of GDI could reflect the situation of people’s welfare. The physical quality of life index (PQLI) The physical quality of life index is developed by David Morris in the mid-1970s. This index is consisted of three main indicators, the literacy rate, the infant morality rate and the indexed life expectancy. The average value of these three indicators is the level of the physical quality of life. This index is easy to measure and understand. But it does not reflect the complete contents of the welfare. And the excessive attention to the health indicators reduces its ability to give a full explanation of the welfare level (Bà ©renger and Verdier-Chouchane, 2007). Conclusion The gross domestic product can partly reflect the results of the economic activities. But it cannot reflect the economic welfare, the non-market economic activities, the quality of the economic growth, and the environment cost and pollution. These limitations prevent GDP from measuring the economic welfare people get from the economic activities. So that people have developed the new methods to replace GDP to measure the economic welfare. References Bà ©renger, V. and Verdier-Chouchane, A., 2007. Multidimensional Measures of Well-Being: Standard of Living and Quality of Life across Countries. World Development, 35(7), pp. 1259–276. Bridgman, B., Dugan, A., Lal, M., Osborne, M. and Villones, S., 2012. Accounting for Household Production in the National Accounts, 1965–2010. Survey of Current Business, May, pp.23-36 Costanza, R., Hart, M., Posner, S. and Talberth, J., 2009. Beyond GDP: The Need for New Measures of Progress. The Pardee Papers No. 4. Boston: Pardee Center for the Study of the Longer-Range Future. Fixler, D.J., Greenaway-McGrevy, R. and Grimm, B.T., 2011, Revisions to GDP, GDI, and Their Major Components. Survey of Current Business, July, pp.9-31. Gutierrez, C.M., Glassman, C.A., Landefeld, J.T. and Marcuss, R.D., 2007. Measuring the Economy: A Primer on GDP and the National Income and Product Accounts. Washington, D.C.:à £Ã¢â€š ¬Ã¢â€š ¬Bureau of Economic Analysis, U.S. Department of Commerce. Helene, O., 2010, Fitting Lorenz Curves. Economics Letters, 108, pp.153-55. Viet, V.Q., 2009. GDP by Production Approach: A General Introduction with Emphasis on an Integrated Economic Data Collection Framework. New York: United Nations Statistics Division. Viet, V.Q., 2011. GDP by Final Expenditure Approach an Operational Guide for Using Commodity Flow Approach. New York: United Nations Statistics Division. Viet, V.Q., 2012. Income Approach to GDP and Other Issues Relating to the Compilation of Household Income and Consumption Expenditures. International Workshop on Household Income, Consumption and Full Accounting of the Households Sector, 26-28 March, Beijing. China.

Implications of Economics and Policy for Health Professionals

Getzen, T. states, health is irreplaceable, and any change in health can strongly affect the value of many other goods. Health is more precious and time more limited than money. Managed Care is a system of health care that combines delivery and payment; and influences utilization of services, by employing management techniques designed to promote the delivery of cost-effective health care. Insurers/managed-care organizations controls health care in the United States today because nowhere are the changes in the U. S. health services system more evident and more constant than in area of managed care. The shift from fee-for-service to manage care was the need to reduce costs for care and was embraced by various payers as the solution to the unchecked rise in health services expenditures (Barton 2007). The current health care system in the United States is failing. Health Care costs are increasing at a pace which far exceeds inflation. Managed care organizations were established as a cost effective alternative to traditional fee for service. A constant and constantly changing factor that influences the delivery system is the strength of this economy (Barton 2007). When jobs are at stake in a weak economy and the housing market is also at its lowest, insurance premiums steadily increasing, individuals aren’t focused on maintaining health coverage they are more concern with maintaining their homes and trying to pay the mortgage. Health Care Administrators will be challenged with a number of different types of health decisions and choices can be distinguished from a wide range: individual decisions, health policy decisions, health action decisions, regulatory decisions regarding the health system, micro-level health decisions and decisions made outside of the health sector. PubMed suggests, with regard to health-related matters, decision-making is characterized by the level of uncertainty, the complexity of the health system and its structure, the role of urgency and the obligation to act; however, there is a significant emotional factor in these decisions and the supremacy of the individual in the decision-making process. On the policy side, health-related decision-making poses questions concerning the role of expertise and necessitates the development of public debate. As for the matter of health financing, namely through social security and insurance, it calls for a re-examination of the economic analysis of health decisions and policy and the development of a more coherent position on the right to health versus the right to universal coverage. Healthcare is changing in terms of how and where care is delivered, who is providing those services, and how that care is financed. Healthcare Administrators require trained staff to manage the changes taking place. Healthcare Administrators have an opportunity to make a significant contribution to improving the health of the communities their organizations serve. Health Care Administrators plays a key role in keeping cost at a minimum and oversee the delivery of quality care. It is a must that Administrators make effective decisions, they need to be open to different opinions and good at analyzing contradictory information. They must understand and incorporate the best business practices. Also their focus is integrating medicine through the highest quality, the most access, for the best economical method. (Linden 2010)