SOCIAL, CULTURAL and ECONOMIC CONTEXT OF HEALTH Essay - 1

SOCIAL, CULTURAL and ECONOMIC CONTEXT OF HEALTH - Essay Example , we cannot delink and conceptualise public health and health care separately since both focus on the improvement of the health of the entire population, in a country or a region, although health care focuses on individual care while public health care focuses on a part of the population, or the entire population (Gostin et al., 2011). However, the type of the health care that the nation provides is determined by the quality of care offered and the outcome of care provided by practitioners in the health care sector. In this case, the quality of care is the most important aspect as it determines the health of the entire population. Various research studies identify the importance of the quality of care in determining the outcome of care with the outcome of care provided being the most important aspect in the determination of the effectiveness of a nation’s health care system (Hermann et al., 2006; Parish et al., 2011; Pincus et al., 2007; Shih et al., 2013). To achieve effectiveness in the health care sector with the aim of achieving quality care, it is important to ensure that there is sufficient allocation of resources that are consequently utilised in an approach that was effective. In this case, allocation of resources should not only be done without following their implementation and utilisation in every level and organisation of the health care system in which the resources are required. This implies that the efficiency of the health care sector is determined by various factors with the amount of resources allocated determining the implementation of services in ensuring that the health care sector met the needs of the nation. In line with this, Kluge (2007) identified resources as critical in setting the priority in the health care sector. Stakeholders face a challenge related to the setting of priorities in an environment whereby the resources allocated are not sufficient to implement a health care system that addresses the needs of all stakeholders in the

Cultural Diffusion and Imperialism

Cultural Diffusion and Imperialism World has now become a global village. By global village what we mean is that everything is available to every person through the process of free information flow (Ascher, 2010). Globalization has brought everything closer and that has happened through cultural diffusion. Now to understand what cultural diffusion is, we first have to have a fair idea over what is diffusion. Secondly there is well defined process through which a culture is diffused in other cultures and makes it mark. This culture diffusion affects international business to the core because when we say that globalization have made its presence felt in the global economy, we see that it is there because of culture diffusion in different ways. This has also lead to come sort of cultural imperialism which we shall discuss in length in paragraphs to come. Culture diffusion happens when non material and material culture travels to another culture (Wise, 2008). How this happens is a million dollar question which needs to be answered correctly and to the point. To have a profound knowledge over how it happens we go to the basics of it which is culture hearth. Now culture hearth is a place where civilizations first began and then they spread to different areas. Nowadays culture hearths are considered to be in those countries which are well developed and whose culture gets diffused to other developing countries because they have to be in tandem with each other so to have a good and viable trade. If we talk by considering the present world and international trade, we see that this cultural diffusion has spread many cultural straits wherever they got a chance to get diffused. Sometimes this spread is so rapid that no one can find out its origin, timing and spread. There are two different ways in which a culture is diffused to another culture ; one is acculturation and another is Assimilation (Howes, 1996). Both are the ways in which culture is diffused in another culture. In acculturation what happens is that some cultural traits of strong cultures are being taken up by weak cultures like in ancient times we see that Spain had some cultural traits which are taken from Aztecs. Similarly if we see examples in the modern world we observe that a very common greeting hello is also a cultural trait which is being taken by many cultures as a greeting by default. Why that happened so? Because it has its roots in western world and as West dominated for the last two centuries, all the trade, rules and policies were being written and implemented by Western countries which influenced weak cultures to adopt the greeting and many other things which now we call globalization. On the other hand, another way in which a culture can be diffused is through assimilation. In assimilation what happens is that cultures are intertwined with each other in such a way that it is hard to distinguish between where its origin had been. Lets for example when Arabs came to Indian Subcontinent, the Indians had nothing than a piece of cloth worn up to their knees with an open jacket as their vests but Arabs brought a new culture of a full length suit of cloth covering whole body. Now after centuries the Mongols and the warriors from Afghanistan brought minor changes to the original dress which made people easy to carry, walk and most of all made it best attire which can be used for combat purposes also. End result was that the whole thing got assimilated with each other so quickly that there was little difference left between what people wear in Arabian countries mainly the natives of Arab Emirates and the people wear in subcontinent. It specially pertains to the dressing of men. Other thing which effects diffusion is the cultural barriers, time and distance delay and lastly physical barriers (Rauth, 2004). Cultural barriers includes things which are not acceptable to other culture at any cost for example Mc Donald came up in India with its different burgers mainly in beef but as Indians hold cow as sacred, they do not go for it so Mc Donald have to introduce veggie burgers instead of beef as local cultural barrier never allowed any assimilation or acculturization to take place. In time and distance delay, diffusion is hampered because time and distance which it would take to reach another culture would be more and then would become less futile for example Eskimos who live at poles, their cultures and way of living is different from us and still they are yet to have culture diffusion (Howes, 1996). Time and distance delay is somewhat linked with the physical barriers also which also helps in making things bad for cultural diffusion to take place for example t he terrain which is very tough to pass would obviously make things worse for people to travel hence making it hard to diffuse a culture or similarly a sharp weather change would also create a physical barrier for culture diffusion to take place as it would be difficult to take things from one culture to another as culture traits differ from each other or not even close to each other. That culture is diffused either in expansionary diffusion or relocated diffusion (Said, 1994). We have seen that expansionary diffusion have taken place in most of the places in world where West culture is being adopted by the elite and now it is being transmitted to the lower end of the population. This sort of diffusion is known as hierarchical diffusion in where the spread of a new culture takes place from top to bottom. Example of this is the coffee shops like star bucks, which had no concept in south Asia but they are brought by Westerners who came here for business purposes. They first inculcated the trend in elite and now it is being adopted by every person as it have has transformed many old kiosks for betel leaves and cigarettes into coffee shops. Similarly blackberries; many corporate customers have this gadget in their hands which is attracting other upper middle class people to have it too so to have some satisfaction. Other types include relocation diffusion which happen s when people take their innovations with them to a new place like for example Jews. Jews in Europe were really good in scientific knowledge and due to their astuteness they were being victimized and were sent to concentration camps. When after the world war they relocated themselves in different parts of the world, they went with their knowledge and innovations which brought a lot of prosperity around the globe. Another example of it can be AIDS which spread through relocation diffusion as disease is carried by one person who migrates to another society with having a different culture. Now as diffusion is discussed at length, we now see that whether cultural imperialism can be established through cultural diffusion? Yes to some extent I would agree to it because in international business when there is trade and goods flow from one place to another, it not only takes a new product across the borders but also takes its culture to another place. In other words level of diffusion depends on the factors discussed above and also on a culture being strong as to the culture where it is being diffused as being weak (Hobson, 2010). Like for example the trend of suits around the world, from where it came? It came and assimilated in our culture because it was being followed by a strong culture or in cultural hearth which is American and Europe and from there it diffused to all parts of the world. Mens formal suitings, as we all know, have such an importance that now if a south Korean business tycoon needs to do a deal with his Indian counterpart to open up a microchip factory in Delhi, they would be following their own business rules and formalities but their attire would be formal and would follow the strong cultures dress code which is to have a formal dress suit. Moreover the casual dress in China, a decade ago was not jeans and a tee shirt but now they have taken the affect of American culture as it diffused into their society but why? Because more than 70 percent of Chinas trade is bound for America so Chinese have adopted some practices of American culture which shows us that yes there is diffusion of culture but that does not proves cultural imperialism at any point; people went towards tee shirts and jeans because they were easier to handle, according to the young generation, as compare to traditional safari suits for men and traditional Chinese for women. Apart from this, cultural diffusion does not reflect cultural imperialism for example whole world is following more or less same accounting principles so the rules of debit and credit are same so to imply that it is a product of a particular nation or it is a part of any culture would be a gross mistake. Yes its true that methods of accounting were first brought up by Chinese but significant changes were made throughout.

Slaughterhouse Five Essay -- essays research papers

Slaughterhouse Five Billy Pilgrim is born in 1922 and grows up in Ilium, New York. A funny-looking, weak youth, he does well in high school, then he enrolls in night classes at the Ilium School of Optometry, and is soon drafted into the army. He serves as a chaplain's assistant, is sent into the Battle of the Bulge, and almost gets taken prisoner by the Germans. Just before being captured he first becomes unstuck in time. He sees the entirety of his life in one sweep. Billy is transported with other privates to the beautiful city of Dresden. There the prisoners are made to work for their keep. They are kept in a former slaughterhouse. Billy and his fellow POWs survive in an airtight meat locker. They emerge to find a moonscape of destruction. Several days’ later Russian forces capture the city and the war is over. Billy returns to Ilium and finishes optometry school. He gets engaged to the daughter of the founder of the school. His wealthy father-in-law sets him up in the optometry business. Bill y and his wife raise two children and become wealthy. One day in 1967, as he claims on a radio talk show and in a letter to the editor, Billy is kidnapped by two-foot high aliens whose body shape is reminiscent of an upside down toilet plunger. These are the Tralfamadorians. They take him to Tralfamadore where they mate him with the actress Montana Wildhack and keep both earthlings in a zoo. They also explain to him their perception of time, how all of it exists for them simultaneously in the fourth dimension. When someone dies he is simply dead at a particular time. Somewhere else and at a different time he is alive and well. Tralfamadorians prefer to look at the nice moments. When he is returned to earth, Billy initially says nothing. However, after he suffers a head injury in a plane crash and after his wife dies on her way to see him in the hospital, Billy tells the world what he has learned. He goes on a radio talk show and writes a letter to the newspaper. His daughter is at her wit's end and doesn't know what to do with him. Billy makes a tape recording of his account of his death, which will occur in 1976 after Chicago has been hydrogen bombed by the Chinese. He knows exactly how it will happen: a man he knew in the war will hire someone to shoot him. Billy will experience the violet hum of death, then will skip back to some other point in his life. He's see... ...ughterhouse-Five, it seems that both the narrator and Billy Pilgrim are represented as author. The point of view in this book is the author is looking at the events of his own life; past, present, and future and trying to make some sense out of them the same way that Billy is trying to order the events of his own life. The author uses short, simple sentences that manage to say a lot in a few words. The author also uses imagery. He also puts in his book references to historical events. These references increase the understanding and appreciation of Billy's story by suggesting historical and literary parallels to the personal events in his life. The novel does not have smooth transitions from one event to the next. A normal novel has smooth transition. Vonnegut wrote this book without any smooth transition. This novel is very complicated. The topics that are mention are hard to understand. The book was a bit difficult to follow. Slaughter House-Five's character's needs more depth. More description is necessary. There was too much jumping around in time in Billy’s life. I thought that this book was going to be better than it actually was. I wouldn’t recommend this book to a person wh

Corporate Philanthropy Essay

Introduction In an increasingly competitive global environment, businesses are challenged with demands for profitability and responsibility. To create value for all stakeholders, corporate leaders meet these demands with integrated strategic philanthropic programs. More and more companies encourage and embrace greater collaboration and cooperation between corporations and communities. I. The competitive advantage of corporate philanthropy In this first part, we will demonstrate that usually businesses that choose to employ corporate giving attitude benefit in many different ways from their actions. * First, these businesses could increase their reputation amongst the general public, and also begin to attract new consumers to their business as well. * Secondly, businesses that choose to help out their communities could increase their employee retention rates significantly as well. Happy employees will increase their productivity levels. * Thirdly, when companies opt to engage in this giving activity their shareholders begin to build a level of confidence in the business. TRANSITION: In addition to customers’ behavior vis-à  -vis different philanthropy programs or CSR in general, it was also been proved that philanthropy inside a company increases the employees’ motivation and thus their commitment and productivity A. Corporate philanthropy boosts employee morale One of the most important components of corporate philanthropy is to provide avenues/means for employees to be personally involved in a company’s commitment to social responsibility. It is widely understood that supporting local causes is a good way for a business to develop a positive image and reinforce its relationships with customers. In the process, it can also boost morale among employees. * According to experts employees who have a favorable impression of their company’s philanthropic program are four times more likely to be truly loyal employees than those who do not, and are five times more likely to remain with their employer. * They concluded that philanthropy is definitely a factor in how employees evaluate their employers. In all, employees whose companies participate in good corporate social responsibility and philanthropy reported feelings of pride in their workplace, a sense of belonging as part of a family, and admiration for the good deeds their compan y accomplished. * Corporate philanthropy programs also present many opportunities for team building that would not normally occur during a typical day in the office. Employees are able to partner together and work in team environments outside of their direct work groups. People from different departments or offices, who typically wouldn’t see each other during a workday, can serve a meal, volunteer in a classroom or help build a home, side-by-side. This promotes a greater sense of camaraderie. Concretely, to encourage employees participation in corporate philanthropy, experts advices businesses to implement some practices: – Involve employees in community outreach decisions: many companies create committees to make decisions about contributions or company volunteer activities; – Start a matching gifts program: this allows your company to add to employees’ donations designated for nonprofit organizations. It can encourage charitable giving while showing appreciation for em ployees. – Encourage volunteerism. Many people want to volunteer, but can’t find time in their lives to do it. Participating in employer-sponsored programs allows employees the opportunity to volunteer.. Some businesses provide paid time off for employees to devote time to a nonprofit, while others structure an annual company-sponsored employee volunteer day or series of ongoing events. B. Corporate philanthropy builds shareholder value According to the Harvard Business case on coporate philanthrophy, Professor Friedman said that business executives who speak of the social responsibilities of corporations are â€Å"preaching pure and unadulterated socialism.† He claimed that corporate executives must have only one objective- to make money as much money as possible-and that spending corporate funds to promote social goals detracts from the bottom line. However, according to William C. Steere, Jr, Chairman of the Board Emeritus Pfizer Inc, corporate philanthropy also enhances shareholder value. Pfizer, Inc. is an American multinational pharmaceutical corporation headquartered in New York City. It is the world’s largest pharmaceutical company by revenues. Pfizer develops and produces medicines and vaccines.

Discuss The Impacts of Taxation

When a firm faces new investment opportunities (or to keep its functioning) which have positive net present values, financing needs come along. The options range from using cash generated from operations to simply forego the projects. If the company wants to take its projects, when its cash is not enough, it can raise new funds from equity or debt. This combination of equity and debt which a company decides to use is known as its capital structure. This paper is about how a firm ought to establish its debt/equity ratio, focusing in the advantages and disadvantages of taxes’ impact on this ratio. Capital StructureWhen referring to the capital structure of a firm, it is impossible to avoid Modigliani-Miller’s (MM) influential paper â€Å"The Cost of Capital, Corporation Finance and the Theory of Investment† (1958). Later, they published several â€Å"follow-up† papers discussing these topics. MM set the foundations of the modern theory of capital structure. MM first hypothesis was that, under certain assumptions, the firm’s value is invariable despite relative changes in its capital structure, thus â€Å"a firm cannot change the total value of its outstanding securities by changing the proportions of its capital structure. † (Ross, Westerfield and Jaffe, 2001.p. 401).This is known as MM proposition I. In a general way this proposition is saying that a company cannot do something for its stockholders that they cannot do by themselves. The MM second proposition implies that the use of debt for financing increase the expected future earnings, but this increase is coupled with an increase in the risk to equity holders, thus the discount rate used to value these future earnings also increases. As Fabozzi and Patterson state â€Å"the increased expected earnings have on the value of equity is offset by the increased discount rate applied to these riskier earnings. †(2003)Mathematically the propositions can be stated: Pro position I: VU=VL where VU is the value of an unlevered firm and VL is the value of a levered firm. Proposition II: rs = r0 + B/S (r0 – rb) where rS is the cost of equity, r0 is the cost of capital for an all equity firm, rB is the cost of debt and, B / S is the debt-to-equity ratio. But these hypotheses rely on a â€Å"perfect market† assumption. When imperfections are present into a certain market this hypothesis is misleading. Changes in a firm’s capital structure could change the firm value. One of the most important market imperfections is the presence of taxes.Capital Structure and the Presence of Corporate Taxes In the previous sections is stated that the firm value is unrelated to its capital structure, i. e. it does not depend on its debt/equity ratio. But when taxes are incorporated into the analysis this affirmation is not true, â€Å"in the presence of corporate taxes, the firm’s value is positively related to its debt. † (Ross et al. 2 001. ) Thus, the use of debt has an advantage over financing with equity. The Internal Revenue Code (IRC) â€Å"allows interest paid on debt to be deducted by the paying corporation in determining its taxable income† (IRC code 1963 qt.in Fabozzi and Patterson. 2003. P. 598) This benefit is known as Interest Tax Shield, due to the fact that â€Å"interest expense shields income from taxation† (p. 602). This is TaxShield=(TaxRate)(InterestExpense) Now is necessary to value this shield and see how this changes the firm value. Taking account of the expression above it can be said that whatever the taxable income of a company is without debt, the taxable income is now less in an amount equal to the Tax Shield in the presence of debt. This idea is also based in MM ideas.In other words, the firm value is: Firm Value = Unleveraged Firm Value + Tax Shield Value Going deeply, this statement implies that all companies should choose maximum debt, something that can not be seen int o the real world. This is due to the presence of bankruptcy and other distress related costs that reduce the value of a levered firm. As a firm increases its leverage position these costs increase. There is a point when the present value of â€Å"these costs from an additional dollar of debt equals the increase in the present value of the tax shield.† (Ross et al. 2001. p. 432)This is the debt level which maximizes the firm value. Beyond this point the distress associated costs increase faster than the firm value due to additional debt. Therefore, there is a trade off between tax benefits and the financial distress costs. There is an optimal amount of debt for each firm, and this must be its debt objective level. Presence of Personal Taxes In presence of personal income taxes could decrease, or even eliminate, the advantage of corporate taxes associated with debt financing.Despite this, if the yields due to debt and stocks cause taxes at the same rate that the personal taxes, there is still an advantage coming from corporate taxes(Van Horne, 1997). Merton Miller proposed that, in presence of both, personal and corporate taxes, the decisions about capital structure of a firm were irrelevant (Miller, 1977). Despite this, personal taxes have different rates; therefore, with constant risk, individuals who are in the lower rate bracket must prefer debt and those who are at the upper part of the scale must prefer stocks.Fabozzi and Patterson summarize this point as follow: 1. If debt income (interest) and equity income (dividends and capital appreciation) are taxed at the same rate, the interest tax shield increases the value of the firm. 2. If debt income is taxed at rates higher than equity income, some of the tax advantage to debt is offset by a tax disadvantage to debt income. 3. If investors can use the tax laws effectively to reduce to zero their tax on equity income, firms will take on debt up to the point where the tax advantage to debt is just offset by the tax disadvantage to debt income.The bottom line from incorporating personal taxes is that there is a benefit from using debt. (p. 603) Small Literature Survey In this section it will be summarized some opinions and findings about capital structure decisions and taxes. Panteghini in a work about multinationals capital structure found that â€Å"optimal leverage is reached when the marginal benefit of debt financing (which is due to the deductibility of interest expenses) equates its marginal cost (which is related to the expected cost of default).A strategy used is â€Å"Income shifting† which â€Å"raises the tax benefit of debt financing, thereby stimulating debt financing, and delays default. † (2006) Verschueren research about Belgian companies strategies showed that â€Å"The hypothesis that firms for which the tax advantage of debt financing is higher have higher debt tax shielding ratios gets only meager support: more profitable firms have lower debt ta x shielding ratios. † She found â€Å"no indications that avoiding agency conflicts of any type plays a significant role in the determination of debt tax shielding. † (2002, p.22)She states that these results are quite close to international research also. Graham and Tucker found a similar result â€Å"Firms that use tax shelters use less debt on average than do non-shelter firms. † There is also a potential problem which is that â€Å"under-levered firms may have â€Å"off balance sheet† tax deductions that are not easily observable, and which are therefore often ignored in empirical analyses. † (2005 p. 1) Irina Stefanescu arrives to a comparable conclusion â€Å"There is a general consensus that significant tax incentives are associated with corporate borrowing.Nevertheless, many large and profitable companies with a low risk of financial distress have relatively low debt ratios. † (2006) Stewart Myers, explaining Miller’s paper â⠂¬Å"Debt and Taxes†, theorizes about why firms are not â€Å"awash in debt†Ã‚ · An interesting point he states is that Miller’s model â€Å"allow us to explain the dispersion of actual debt policies without having to introduce non-value-maximizing managers. In the other hand he states also that â€Å"Firms have good reasons to avoid having to finance real investment by issuing common stock or other risky securities.They do not want to run the risk of falling into the dilemma of either passing by positive NPV projects or issuing stock at a price they think is too low†. (1980) Conclusion It seems that several researches have been performed in capital structure decisions. Although not all of them arrive to the same conclusion it gives the impression that the tax shields have positive impacts on firms value; and the presence of personal taxes do not eliminate this fact.In the other hand, findings that companies have not larges amounts of debt indicates that t hey might obtain some advantages from other sources, e. g. off balance sheet benefits. After 48 years since Modigliani and Miller’s paper appeared, it can be said that â€Å"however, much remains to be done before the cost of capital can be put away on the shelf among the solved problems. † (Modigliani-Miller 1958)