Goldman Sachs unethical behaviour Essay Example | Topics and Well Written Essays - 1000 words

Goldman Sachs unethical behaviour - Essay Example This implies that the responsible players at the helm of its management should operate its functions devoid of the slightest mistake that could cause a multiplier effect of unpleasant results across the board. Flouting basic business ethics in such a sensitive system could perhaps amount to the worst ethical bleach of this age. Informed from such a global perspective, this section of this discourse assesses the conduct of one of the players at the helm Wall Street to find its credibility from a business ethics perspective (US Senate, 3). Operations of the Wall Street are largely accused of the downfall of the US economy from 2008, due to unprecedented departure from safety lending regulations particularly in the financial services sector. The most affected were mortgage, debt and stock markets whose effect spilled over into the other financial institutions in such a rate that almost paralyzed the entire economy. Sooner than later, the global economy were feeling a pinch of the spiraling impact. A leader in the mortgage business was perhaps more responsible than many more players in the market. Goldman Sachs happened to be one of the main two players in the infamous mortgage market immediately before the collapse of the Wall Street in 2008, alongside Deutsche Bank. The conduct of Goldman Sachs in terms of ethical responsibility it had to observe demonstrates incompetence due to a number of abuses. Firstly, the manner in which mortgage and other related securities were handled in the unstable market left a lot to be desired (Griffin, 94). Goldman Sachs participated in the design of a risky complex securities system whose failure orchestrated the downfall of several aspects of the market. The mortgage instruments designed by Goldman Sachs and other players were complicated in such a manner that the derived securities became more valuable than the original instruments of trade in the market. Goldman Sachs was aware of

Regulatory and Accreditation Body in Nursing Education Paper Essay

Regulatory and Accreditation Body in Nursing Education Paper - Essay Example sion is â€Å"protect and promote the welfare of the people of Texas by ensuring that each person holding a license as a nurse in the State of Texas is competent to practice safely.† The mission of the Board of Texas is fulfilled through nursing practice regulation and nursing education program approvals. BNE approval is the key for the graduates to take the NCLEX. Based on the Nursing Practice Act (NPA), the Vocational Nursing Education and Professional Nursing Education provide rules and regulations for programs of nursing education to ascertain that the graduates can practice competently and safely. Texas nursing education program is approved by Texas BNE that are compliant with their rules and regulations (The Regulation of Nursing Education Programs in Texas, 2008). On the other hand, colleges and universities who are accredited by Southern Association of Colleges and Schools / Commission on Colleges are constantly monitored for improvement of education system (SACS, 2006). The Commission on Colleges is the College Delegate Assembly representative body and is in charge in carrying out the process of accreditation (SACS, 2006). BNE protects the public as well as the faculty and students who receive nursing care and nursing education program. The approval of BNE safeguards the preparation of nurses by assuring that standards of nursing practice are learned by students through sound education and licensure exam eligibility. The approval of BNE on nursing education programs ensures that the curriculum and program outcomes prepare students to demonstrate the Differential Entry Level Competencies (DELC), and is the core requirement for mandatory approval by other regulatory agencies and voluntary accreditation (The Regulation of Nursing Education Programs in Texas, 2008). The Commission on Colleges is the College Delegate Assembly and is the regional body for accreditation of degree - granting higher education institutions in the Southern States. Its purpose is to

The theoretical rationale for the NPV approach to investment appraisal Essay

The theoretical rationale for the NPV approach to investment appraisal - Essay Example 383). It is originally attributed to Irving Fisher in his 1930 book, The Theory of Interest. The most common application of the Fisher model of NPV is in deriving the value of the net contribution of a potential investment to shareholder value, or for budgeting purposes, when deciding among alternative projects when available capital is limited and may not be sufficient to finance all the projects. In fact, the NPV is a valuation method that may be used to decide situations for which a stream of future returns and future payments may be estimated. The power and allure of the NPV is that it serves so well the role of financial markets that allows individuals and corporations to transfer money between dates (MacMinn, 2005:1). By creating a rationale valuation tool linking money in two different points in time, it becomes possible for the individual to â€Å"save by transferring dollars from the present to the future,† while the corporation may â€Å"invest and finance the investment by transferring dollars from the future to the present† (p.l-2). However, for the model to work requires knowledge of the cost of capital from which the discount rate is derived. The NPV is derived by discounting all future cash inflows and outflows to the present. By â€Å"discounting† is meant calculating the equivalent value in the present of all future cashflows, assuming these cashflows appreciated over time by an annual compound rate such as the cost of money. This â€Å"discount rate† is that rate of return that an investment (of similar risk) in the financial markets may be expected to earn. Otherwise stated, if an amount equivalent to the net present value were invested today in a financial instrument of similar risk as the alternative or project being considered, the rate of return of which is equal to the expected return on the investment, then such amount would represent the same benefit that may be derived from th entire stream of future cash flows yielded by the instrument invested in. When the discount rate has been determined, the present value of a single sum N years in the future may be found by multiplying this single sum by t he discount factor pertaining to the discount rate applied over N number of years. In mathematical terms: Where: PV = present value of the future single sum R = the future single sum N = the number of compounding periods from the present to the time the single sum is realized or expected i = the discount rate The discount factor is equivalent to the factor multiplied by the single sum to obtain the present value. It is denoted by the expression Discount factor (single sum, discount rate i, N periods) = Where there are more than one cash flow, the several cash flows together make up a cash flow stream. In this instance, the sum of the present values of the individual cash flows is equal to the present value of the entire cash flow stream. When the cash flow is an inflow (or revenue), then the cash flow is positive and its present value is also positive. When the cash flow is an outflow (or cost), then the cash flow is negative, and its present value is also negative. Therefore the su m of present values for the inflows and outflows nets out the costs from the revenues, resulting in the net present value. Illustrating the theoretical rationale of the NPV To illustrate the rationale of the NPV approach, assume that management has to choose from three possible investments A, B and C, each with a life of five years and none of which are mutually exclusive, with the following expected future cash inflows and outflows: The cash flows at year 0 (the present) represent the initial investments which are costs and therefore are denoted by the

Buiness Marketing Plan Essay Example | Topics and Well Written Essays - 500 words

Buiness Marketing Plan - Essay Example Game fit will work on a plan to extend its supplier base and a backward integration after gaining a strong foothold in the market. Fewer supplier choices and heavy dependence on suppliers will drive the cost of the product. The product does not have a self-manufacturing plant, which is a serious threat, and this raises the hand of the supplier (Porter 2004) 3.2.1.2 The Bargaining Power of Buyers: The product has a large segment that includes Video gamers, people in search if fitness and health (obese children and adults) and regular gym goers. This huge target segment will prove to favor the product. The large buyer base will put the company on the upper hand. The initial monopoly and buyer base will prove profitable enabling a speedy break even. The bargaining power of buyers is determined by the cost of switching from one product to another in this case the additional cost a consumer will have to bear to buy this interface and the value he will see for this cost. (Porter 2004) 3.2.1.3 The Threat of Substitutes: A factor which needs attention Game fit is only an interface for two existing products. It will not take long for fitness machine manufacturers to substitute this by providing wholesome solution i.e. a fitness bike that is compatible with any video game that could do away with the interface.

Vincent Van Goghs Starry Night and Hans Hofmanns Spring Essay

Vincent Van Goghs Starry Night and Hans Hofmanns Spring - Essay Example The essay "Vincent Van Gogh’s Starry Night and Hans Hofmann’s Spring" discovers two paintings of Vincent Van Gogh and Hans Hofmann. Despite the similarities in the titles to the two works of art, they reveal a differences which reflects on the artist as a person and as an artist given expression to his experience and perspectives. Where Van Gogh looked to create work that was an interpretation of life through his own deeply emotional brush, Hofmann's works were directed at all expressions that his audience could relate to. However, since art is both an expression of mood/emotion and the artist’s own experiences, the contextual backgrounds of both Hofmann and Van Gogh help to explain why similar titled paintings convey different emotions. Vincent van Gogh (1853-1890) was an iconic nineteenth century Dutch painter of the post-impressionist movement. Van Gogh was a deeply religious man, known for his struggles with mental illness (Blumer: 519). Van Gogh’s let ters and accounts of his life indicate that he suffered episodes of high energy and moods swings that are consistent with Bipolar Disorder. In the last two years of his life, a French doctor diagnosed Van Gogh with ‘temporal lobe epilepsy’. Still, Van Gogh’s life is described as ‘extraordinary’ due to his special artistic talents. After studying in Belgium, he spent time in Paris which exposed him not only to both the classical and then modern works of the French avant-garde, but as a metropolitan city exposed him to the Ukiyo-e style of Japan.

Medication errors in hospitals Research Paper Example | Topics and Well Written Essays - 1000 words

Medication errors in hospitals - Research Paper Example This research will begin with the statement that a device or medication faults more often takes the form of erroneous use of a prescription order or the wrong operation or placing a medical device in a wrong manner. Errors also include the unintentional exchange of a mistaken product in the place of the prescribed one. Also, faults may occur for example, when confusing product name results in the wrong product being dispersed or when inattention leads to an overdose of a certain intended drug. A considerable number of injuries occur annually because of medication or device errors. In general medication mistakes are presumed to be as a result of certain problems within the whole health care system, implying that these faults are usually multiple errors that exist in almost the entire health care system, for example a doctors’ illegible written prescription pads as well as unclear or rather an unfamiliar drug labelling may also result in pharmacists misreading prescriptions and labelling and filling prescription with the wrong medication. Particularly in a hospital milieu and setting, medication safety is especially a very sensitive and delicate issue considering their composite mix of technological and human systems. Melcher, Lampert, Haschke, Drewe& Krahenbuhl, stated that medication errors occurred mostly during the administration process, he concluded that majority of the errors arise during the administration 53%, followed by prescription 17%, and preparation 14% and finally transcription 11%.... of a dependable and regular approach that permits for monitoring , reporting and examining as well as reviewing of errors in an accommodative environment, this identifies and eliminates the reasons for errors. The organization develops a system for frequent and recurrent assessment and evaluation of nurse’s medication administration processes and reassurance of continuous supervision by the head nurse. The development of a quality system which should involves policies and procedure manual to give guidance on medication administration process and enhance quality of nursing care in medication administration. Increase the effectiveness of communication among health care providers to improve and ascertain continuity of patient care. Finally revise and redesign the medication recording formats such as medication kardex, medication history sheets, and medication error reports to make uniform medical practitioners performance moreover the hospital should make available adequate suppl ies in terms of facilities and equipments essential for correct preparation and administration of medications and the provision of appropriate rooms for preparation of medication. 2. Improvements on physicians and pharmacists for quality improvements of medical areas In regards to improvements on physicians and pharmacists the following changes can be implemented; Physicians should be aware of the hospital guidelines and guiding principles in regards to drafting medication orders in the right format, readable and understandable instructions and monitor oral medication orders to augment the medication administration procedure. Physicians and doctors should be readily available all through inside the intensive care unit (ICU) upon being requested for confirmation and clarification of medication

Can Professional Code of Ethics Be the Backbone of Management and Research Paper

Can Professional Code of Ethics Be the Backbone of Management and Leadership's Decision Making in Business - Research Paper Example h one side of ethicists arguing that the right thing to do is always determined by the verdict of moral principles, while the opposite side remains adamant on their stance that an ethical decision is subject to the intricacy of the situation, and therefore is dependant upon the individual’s subjective opinion rather than s certain set of principles. Philosophers refer to ethics as being the ‘science of conduct’, and that ethics comprise of all those basic foundational values and ground rules according to which we live our lives. This paper will open with a general discussion of ethics in the business world and move on to explain how this management discipline came into existence. Furthermore, the expedient tool of ‘professional codes of ethics’ is analyzed with regards to the decision making process, and finally the paper culminates with an in-depth analysis of the pros and cons of the codes of ethics in the decision making process (Ferrel et al., 200 9, 4). Different people can relate to the concept in different ways, and therefore it has come down to having various different subjective meanings, but generally it is referred to as the knowledge of what is right or wrong in the workplace environment and then doing what is right. Wallace and Pekel claim that it critical to pay considerate attention to business ethics at times occurrence of fundamental changes- times which are faced by most of the businesses today, whether profit or non-profit. In these certain precarious situations, the values in a business which were taken for granted previously are questioned, leading to the dismissal of many of the values, and therefore there remains no clear or definite set of values which would act as a compass in guiding the leaders to steer the business according to what is right or wrong. Thus attention to the concept of ethics in the workplace sensitizes the leaders as well as the workers to how they are expected to cope up with moments change. Most importantly,