Exploring the nature of the Postmodern Essay Example | Topics and Well Written Essays - 1000 words

Exploring the nature of the Postmodern - Essay Example This transformation has seen the coming and passing of several seasons and eras which have always been defined by particular aspects of life. Modernism and modernity as periods in life were very instrumental in shaping up the destiny and the manner of life in the ages they erupted. It is imperative to realize that such changes basically commence by transforming the mindset of humanity before progressively changing other aspects of life like culture, art, education and sport. In this transformational timescale, the latest era is the postmodern. Postmodernism has totally transmogrified the entire mannerisms and tenets that defined humanity in the earlier epochs. However, inasmuch as postmodernism is meant to be a solution to the basic concept of life, several arguments abound whether it has really been a positive trend it was meant to be. This certainly arises owing to the many issues that surround postmodernism and the several reservations and doubts raised by critics and cynics. That certainly begs the analysis of the whole concept of postmodernism to determine whether these doubts are justified and more importantly to seek into ways and means of making postmodernism an accepted agenda amongst all and sundry. No era in human civilization did transform the world more than modernity and modernism. When postmodernism gradually replaced modernism, its most notable characteristic was its subsequent attack of modernism. In a way, postmodernism is a formulated and calculated move that seeks to debase and criticize the components propounded in modernism. Postmodernists will always seek to find fault in the conventional ways of doing things and in most cases will not submit their solutions or alternatives even after negatively trashing the existing state of affairs (Featherstone, 1995). Postmodernism pervades all sectors of human life including culture, sport, sex, education, philosophy, literature etc .Most importantly, postmodernism if a function of the human

The Global Financial Crisis On Gcc Countries Economics Essay

The Global Financial Crisis On Gcc Countries Economics Essay The global financial crises that erupted in 2008 affected all countries, rich and poor, to varying degrees, worldwide (Iqbal 2008). Financial markets around the world became more volatile and the economic slowdown created a ripple effect beginning with the United States and Europe into several more economically integrated countries (Nabibi 2009). In a short span of time, severe economic losses were reported by banks, real estate, and equity markets. Blackstone chief executive officer (CEO) Steve Schwarzman stated in the Davos World Economic Forum that the global economic meltdown destroyed 40 percent of the worlds wealth (Conway 2009). The crisis began in September 2007 and concentrated in US real estate termed as the subprime crisis and eventually developed into what economists called the credit crunch in 2008 (Nabibi 2009). As American and European banks incurred losses because of exposure to sub-prime assets, their capital was reduced and affected their capacity to lend. Moreover, corporate and household borrowers began to deleverage (Al Maraj 2008). As major financial institutions went bankrupt and household wealth eroded, investor and consumer confidence went down significantly (Woertz 2008). Quick policy responses from governments of the West was able to prevent their economies from plummeting into depression, but the U.S. experienced one of its worst recessions since the Second World War (United Nations 2009a). While economists have said that no country was spared as a result of the global financial crisis, the effects were disparate among different economies. For instance, the more severe losses were exper ienced by highly integrated economies and had minimal impact on Arab economies which are less integrated (Behrendt, Haq and Kamel 2009). However, the global economic slowdown also resulted to the decline in demand for oil, which claims a significant chunk in the exports of countries composing the Gulf Cooperation Council or GCC (Nabibi 2009). The initial impact of the crisis was the sudden plunge of oil prices, coupled with the depletion of half of local stock markets by half, and the loss of value of investments in the global market. The decrease in oil prices affected the oil-exporting GCC countries which are also the most globalized in the region (Fakir 2009). The domino effect came later unemployment, decline in remittances, reduced government income, reduced trade and investment and reduced social service allocations (United Nations Development Programme [UNDP] 2010). On the other hand, GCC decision makers and finance ministers have reiterated that strict monetary oversight ha s shielded their economies from the worst effects of the global crisis (Tzannatos 2009). The finance ministers stated that the abundant liquidity is enough to assuage investor concerns and highlight the stability of the monetary system of the GCC (Al Jazeera 2008).   Nevertheless, these effects cannot be generalized for all the GCC countries given their diversity (Nabibi 2009). Countries that are more exposed to global capital, investment and consumption demand face a greater risk of being affected by the crisis than others. For instance, Dubai in the UAE, which depend heavily on international capital, tourism and real estate, seems to be more adversely affected than other countries. On the other hand, Saudi Arabia, which has only 25 per cent foreign workers compared to much higher proportions in the other GCC economies might be much less affected than others (Rajan and Narayana 2009). The crisis seems to have visibly hit the GCC economies in the beginning of 2009. However, both the depth and intensity of crisis and the possibility of turnaround are not clear. This paper examines the impact of the global financial crisis on the six countries who are members of the Gulf Cooperation Council (GCC): Bahrain, Kuwait, Oman, Qatar, Saudi Arabia, and the United Arab Emirates (UAE). 2 Objectives This study seeks to: 1. Assess the impact of the recession on key industries in the GCC economies; 2. Assess the impact of the recession on employment and other social services; 3. Identify the measures undertaken by various stakeholders to mitigate the adverse effects. 3 Topic Area The central topic of this study is the 2008 global financial crisis, which is one of the most significant economic phenomena that caused turmoil in countries all over the world. To some economists, it demonstrated the volatility and instability of increasingly integrated economies under a globalized world. As many have observed, the countries which were greatest hit by the crisis were those which were highly globalized (Nabibi 2009).    The implications of the crisis for the GCC are significant. In the Arab region, GCC countries are the most globalized, so logically, the erosion of corporate wealth in the US and Europe would have an accompanying impact on the GCC economies. Indeed, as the World Bank (2009) and the International Labour Organization (ILO) studies have shown, stock markets in all of the GCC countries experienced a significant decline because of the withdrawal of investment from foreign financial institutions. Moreover, privately-funded and domestic projects have been cancelled or abandoned, resulting to a great number of people being laid off and without jobs (Tzannatos 2009; Rajan and Narayana 2009). Despite pronouncements from government decision makers, the effects of the downturn on GCC economies seemed evident (Woertz 2008). Many organizations such as the World Bank and the ILO conducted impact assessments to determine the effect of the financial crisis on trade and industry in the GCC (Iqbal 2008 ). Understanding how it impacts the GCC economies and determining the effectiveness of the policy responses by governments shed light on how best to strengthen economies to mitigate the effects of the global financial crisis. After all, it seems certain that the global financial crisis of 2008 was not the first to its kind and will not be the last. 4 Literature Review   Studies and statistics assessing the impact of the global financial crisis on Arab countries have mixed results. Some have stated that the impact, while present, has been minimal (Behrendt, Haq, and Kamel 2009; Khamis 2010) while others have hypothesized of a more lingering adverse impact for oil-exporting economies such as those in the GCC (Nabibi 2009; Bloomberg 2010). The initial pathway for the effects of the crisis to become transmitted into the GCC was its financial markets. It began with the regional stock markets characterized by high volatility. Financial institutions as well as real estate developers, which comprise among the largely publicly-listed corporations in the GCC were adversely affected, especially Dubai (Nabibi 2009). Moreover, due to real estate speculations effect of increasing defaults on mortgages, many commercial banks in the Middle East region were hurt. Despite having a limited exposure to the global financial markets, banks in GCC countries maintained large investments and loaned very large sums to private entities for the purpose of investment (Center for Strategic Research 2009). As stock prices plummeted, several banks experienced massive default loans and loss of asset values (Khamis 2010). Although the banking sector experienced shock waves, the Islamic banks on the other hand were insulated (Iqbal 2008). Because the y are protected from toxic financial assets and prohibit speculation, the first impact of the global financial crisis shielded them. In addition, sovereign wealth funds (SWFs) also suffered heavy losses as a result of the global financial crisis. The heavier losses were recorded by those which have significant investments in the US stock market, financial institutions, insurance companies, and banks. Estimates put losses at over 200b USD for the year 2008 alone (United Nations 2009b). Aside from the financial sector, the effects of the global financial crisis have also impacted the real economy (Woertz 2008). In real estate, projects which are ongoing or are in the planning stage are likely to be suspended because of financial squeeze. Financing for large construction projects will not be so feasible. This is why one of the largest-hit of the global financial crisis is Dubai where the real estate sector is heavily dependent on speculation and debt financing (Rajan and Narayana 2010). Revenue generation among countries has also generally decreased. Figures from the ILO in 2009 reveal that real GDP growth has shrunk from 6 percent in 2007 to 4 percent in 2009. There is great indication that the crisis will have a more sustainable effect on the region within the years to come. Moreover, due to high inflation, increasing national debt, and prolonged volatility of markets will render more GCC countries vulnerable to the economic slowdown (Center for Strategic Research 2009). Analysts have been keen to point out that the significant drop of oil prices and demand for oil will be the biggest obstacle for the GCC economies. From a barrel price of 140USD in July 2008, oil prices have dropped to merely 40USD per barrel in January 2009. This significant drop increases the threat of negative fiscal balances for Oman, Bahrain and Saudi Arabia due to losses in oil revenue. Hence, the projected growth among GCC countries may be set back a few years more because of downward trend of oil prices (Behrendt, Haq, and Kamel 2009). The slowdown of the European economy may also force GCC countries to reduce production, which will eventually lead to further decline of real GDP in oil-exporting countries (Bloomberg 2010). Saudi Arabia was also severely hit, with its GDP down from 4.2 percent in 2008 to 0.7 percent in 2009 (United Nations 2010a, p. 74).Moreover, without sound governance, the current practice of oil-exporting countries of maintaining high fiscal spending despi te declining oil revenues will further hamper growth (Nabibi 2009). Analysis and predictions over the impact of the global financial crisis on the GCC economies are mixed. While they unanimously state that the global crisis has had an adverse effect on GCC countries, some have stated that the impact is negligible (Khamis 2010) and is not adverse enough to threaten the stability of the region. Behrendt, Haq, and Kamel (2009) opined that the GCC economies are in a relatively well position and can ably cope with the challenges of the global economic turmoil because of many reasons. Firstly, the GCC region has abundant liquidity from incomes out of high commodity prices. Secondly, sound economic management has enabled GCC economies to weather the economic slowdown quite well. Thirdly, the economies of GCC countries are weakly integrated to the global economy as compared to other regions. Smith (2008) said that while there have been negative effects experienced by GCC economies, they are manageable compared to what has been suffered by other countries. The effects of the global financial crisis have also been diverse in degree. For instance, the Oxford Business Group (2009) opined that by and large, the banking sector in Saudi Arabia has demonstrated a high degree of resilience and was insulated from the problems which confronted commercial banks in other GCC countries. Moreover, the Saudi economy in general was found to better than other countries to avoid any negative impact (p. 61) on the following grounds. First, Saudis banks have focused on domestic demand, thereby keeping exposure to the US subprime assets at arms length. Second, Saudis mortgage industry is relatively underdeveloped, and therefore a minimal impact on its real estate sector was experienced in comparison to other GCC countries. Thirdly, the sector still maintains a large and underbanked deposit base to draw from (Oxford Business Group 2009). Among the GCC economies, the UAE has been the most affected by the crisis. Between 2008 and 2009, real GDP growth fell from 7.4 to 0.5 percent. This was due to a severe contraction in domestic demand, notably in Dubai. In the UAE, the real estate sector represents 16 percent of GDP, so the slowdown in this sector had a severe impact on growth. Around 80 percent of Dubais workforce is composed of expatriates, and due to the layoffs, consumption has been significantly reduced (United Nations 2010a, p. 73). GCC economies responded to the effects of the global crisis by adopting measures and policies to mitigate its adverse consequences. Most GCC countries reproduced the policy responses of Western governments such as fiscal stimulation and stricter financial guidelines and regulations. The responses varied relatively depending on the circumstances of their economy. As the first impact of the global crisis directly hit financial institutions and the stock markets, GCC countries first policy responses was directed at supporting the banking sector by providing liquidity and credit support. Oil exporters such as Saudi Arabia, Kuwait, and the UAE fortified their banking systems by providing deposit guarantees for commercial banks (Woertz 2008). The effects of the global financial crisis on the banking sector have been buffered by several policy measures undertaken by GCC governments and their central banks. Some of the key measures taken since early September 2008 are as follows: reducing the Repo rate four-fold from 5.5 to 2.5 percent, reducing capital reserve requirement for banks, and injecting 3bUSD to enhance liquidity (Saudi Arabia); reducing Repo benchmark to 1.5 percent, injecting 32b USD in the financial and banking sector to ensure liquidity (UAE); reducing discount rates by 50 percent and guaranteeing of deposits (Kuwait) (Iqbal 2008). 5 Research Questions   The central question which this study answers is: What is the impact of the global financial crisis on the GCC countries? The following sub-questions will also be addressed, to wit: 1. What effect did the global financial crisis have on the financial markets, export demand, and government revenue in GCC countries? 2. How did the global financial crisis affect social indicators such as poverty and unemployment in GCC Countries? 3. What policy responses were made by GCC countries to counter the effects of the financial crisis? Research Hypotheses 1. The global financial crisis had a negative impact on the financial markets, export demand, assets, tourism, and remittances in the GCC countries. The impact of the crisis however went at varying degrees across countries. 2. The crisis led to an increase in unemployment and to the decrease of budget allocation for social services. 6 Methodology Overview of approach   This study follows a mixed-methods approach combining qualitative and quantitative methods of data collection and data analysis in order to achieve its goals. Because this study wants to determine the impact of the global financial countries on the economies of the GCC countries, the use of statistics is indispensable. Hence, the use of statistical evidence and the analysis of statistical data will form the bulk of the quantitative aspect of this study. The use of quantitative methods will provide generalization and predictions which are important to this study. On the other hand, there is a need to give the study a more in-depth character in order to fully understand the impact of the global financial crisis in its own context (Strauss and Corbin 2003). It is assumed that statistical research may not be able to take into full account the effects of the financial crisis. In order to have the best of both paradigms, qualitative and quantitative approaches are combined in this research in order to provide insights that neither approaches alone can provide (Patton 2005). Data Collection   Qualitative and quantitative forms of data will be gathered for the purposes of this study. 1. Key informant interviews Key informant interviews are qualitative in-depth interviews with individuals who are knowledgeable about the topic of interest. The purpose of conducting key informant interviews is to gain access to information which people who have first-hand knowledge only possess. In the context of the research objectives already outlined, key informant interviews can provide information about how the global financial crisis has affected GCC countries from a limited number of economic analysis or experts who have been able to observe and track the consequences of the global financial crisis in their respective countries. In particular, five (5) key informant interviews will be conducted. Participants will be individuals who are highly qualified to provide information about the effects of the global economic crisis: professors, economic analysts, or business experts. Face-to-face interviews or Internet correspondence will be conducted. Interviews will be transcribed and interpreted accordingly. 2. Statistical reports and other documentary evidence As stated earlier, the use of statistical data is indispensable to this study. To track the effects of the global financial crisis on key areas of the six GCC economies, official reports and statistics from authoritative sources will be used such as the World Bank, International Labor Organization, the OECD, and International Monetary Fund. Moreover, secondary sources such as newspaper articles, in-house reports, and other pertinent documents will be used to verify or illuminate findings. Data Analysis   Data from the key informant interviews will be analyzed for recurring themes, patterns, and ideas. Statistical data from reports and documentary evidence will be analyzed using descriptive statistics. Interpretation   Because qualitative data tends to be subjective, findings from the key informant interviews will be cross-checked and verified with secondary sources. In order to reduce the probability of bias, results from the interviews will be substantiated with findings from statistical analysis performed on the reports and documentary evidence. 7 Expected Results   Out of the mixed-methods approach that this study will undertake in determining the impact of the global financial crisis, the following results are expected: 1. A detailed presentation of the key economic and social indicators in significant areas of six GCC countries highlighting improvement or decline; 2. An in-depth presentation of interview findings from well-known and expert informants that will substantiate or illuminate on the findings from statistical sources. 3. Key policy responses made by governments are identified and recommendations for improvement are also outlined.

1 BACKGROUND Essay example -- Business and Management Studies

1 BACKGROUND 1.1 Ford Motor Company Ford was the pioneer of the motor vehicle, just over 100 years ago. Today, Ford Motor Company is a family of automotive brands consisting of: Ford, Lincoln, Mercury, Mazda, Jaguar, Land Rover, Aston Martin, and Volvo, employing 350,321 (Yahoo Finance) workers in more than 200 countries. 1.2 Motor Industry The American oligopoly in the motor industry, consisting of Ford, General Motors and Chrysler, has suffered from poor financial results recently. As reported by www.guardian.co.uk (16/06/03), â€Å"the big three US car-makers are wrestling with the combined effects of over-capacity, growing competition from Europe and Japan, huge pension and health care costs, and a damaging increase in incentives to get customers into the showrooms†. A real sign that the car industry is in the midst of major change came when www.reuters.com (25/01/04) reported that Toyota had overtaken Ford as the world’s second-biggest automobile manufacturer. The Japanese firm’s strategy of focusing on quality, efficient manufacturing and targeting new markets paid off with their market capitalisation, at $120bn, totalling more than the â€Å"big three† combined. The main value driver for the motor industry is platforms, or production lines. The Japanese and European firms invested heavily in multi-car platforms and can now base a number of cars on one platform, rather than the traditional method of one car per platform. This has reduced their fixed costs dramatically and allowed these firms to sell their cars at much cheaper rates and gain market share. Developing new platforms requires serious investment not just in financial terms, but also in time. The â€Å"big three† are several years behind the new competition and because of this, American automotive research firm Iceology estimate the market share of the â€Å"big three† could fall from 60.2% in 2003 to 56.5% by 2006 (Business Week, 3867, 76). 2 CURRENT POSITION 2.1 Competitive Position The intense publicity generated by Ford’s recent centenary celebrations diverted attention from the fact the company was suffering from slowing sales and dire financial results, such as losing $5.5bn in 2001 (Strategic Direction, 19(1), 9). CEO Jacques Nasser led Ford away from their core business and despite replacing him in 2001, the combined effects of his reign and the e... ...Can Ford Fix This Flat?’, ‘Business Week’, 2003, 3860, 50 ‘Detroit Tries It the Japanese Way’, Business Week, 2004, 3867, 76 ‘Ford Feels the Pressure’, ‘Strategic Direction’, 2003, 19(1), 9-12 ‘Big Three Car Bosses Fight for Pole Position’, ‘Strategic Direction’, 2003, 19(11), 10-13 ‘Restructuring Ford Europe’, ‘European Business Review’, 2003, 15(2), 77 - 86 ‘Pedal to the Medal - Enough is enough’, ‘Business Week’, 2004, 3865, 30 Financial Resources DataStream (Aston University Library) Internet Resources www.guardian.co.uk, ‘Ford goes in for refit after 100 years’ www.reuters.com, ‘Toyota overtakes Ford as No.2 car maker’ http://finance.yahoo.com/, Yahoo Finance http://www.autointell-news.com/News-2002/January-2002/January-2002-3/January-16-02-p4.htm - Ford Motor Company Announces Revitalisation Plans http://www.forbes.com/reuters/newswire/2004/03/02/rtr1282302.html - Ford's Scheele sees deflationary price environment Truby (2002) - http://www.detnews.com/2002/autosinsider/0209/25/a01-596413.htm Susanto (2003) - http://www.susanto.id.au/papers/JITFORD.asp Lienhert (2004) - http://www.forbes.com/2003/12/15/cx_dl_1215feat.html

Stock Exchange

What is Stock Exchange? A stock exchange is the market place for the purchase and sale of second hand securities. It provides â€Å"trading† facilities for stock brokers and traders, to trade shares of the listed companies and other financial instruments such as Term Finance Certificates and Derivatives. Stock exchanges also provide facilities for the issue (listing), redemption (delisting) of securities and other capital events including the payment of income and dividends. It is a key institution for smooth functioning and steady growth of the corporate sector and can be seen as a key to the economic life of a nation.Stock exchange is the home of the capital and pivot of the money market, providing proper mobility for capital. The securities of joint-stock companies, government securities and securities issued by semi-government organization are dealt with on a stock exchange. History of Stock Exchange The history of stock exchanges can be traced to 12th century France, when the first brokers (the role of an individual or a firm when it acts as an agent for a customer and charges the customer a commission for its services) are believed to have developed, trading in debt and government securities.Unofficial share markets existed across Europe through the 1600s, where brokers would meet outside or in coffee houses to make trades. The Amsterdam Stock Exchange, created in 1602, became the first official stock exchange when it began trading shares of the Dutch East India Company. These were the first company shares ever issued. By the early 1700s there were fully operational stock exchanges in France and England, and America followed in the later part of the century. Share exchanges became an important way for companies to raise capital for investment, while also offering investors the opportunity to share in company profits.The early days of the stock exchange experienced many scandals and share crashes, as there was little to no regulation and almost anyo ne was allowed to participate in the exchange. Today, stock exchanges operate around the world, and they have become highly regulated institutions. Investors wanting to buy and sell shares must do so through a share broker, who pays to own a seat on the exchange. Companies with shares traded on an exchange are said to be ‘listed' and they must meet specific criteria, which varies across exchanges.Most stock exchanges began as floor exchanges, where traders made deals face-to-face. The largest stock exchange in the world, the New York Stock Exchange, continues to operate this way, but most of the world's exchanges have now become fully electronic. Functions of Stock Market ? Ready Market Stock exchange is a continuous market for the resale of existing securities. It is a centre where buyers and sellers assemble to deal in securities at any time during the business hours. It enables investors to realize quickly their shares and debentures.This facility encourages people to inves t in business enterprise by means of buying industrial securities. It helps new investors to obtain securities at any time at market price. ? Protection to investors Protection of the interest of the investors is another function of stock exchange. This it does by ensuring safety and fair dealing to the average investors through strict enforcement of its rules and regulations. Without the cover of a stock exchange there may be unfair competition between different brokers. The investors may be deceived by clever and dishonest brokers.In a stock exchange any malpractice by a broker carries a severe penalty. ? Profitable use of funds Another major function of the stock exchange is the mobilization of surplus funds of individuals firms and companies for investment in industrial securities. Without the stock exchange, these funds would have remained idle. It directs the surplus funds into the most profitable channel and thereby secures their effective utilization. People invest their sav ings in companies yielding good returns. Stock exchange in Pakistan In Pakistan there are three stock exchanges, ? Karachi stock exchange (KSE) Lahore stock exchange (LSE) ? Islamabad stock exchange (ISE) Karachi Stock Exchange The KSE is the first stock exchange of Pakistan established in September 18, 1947 and incorporated in March 10, 1949. KSE start with 5 companies with a paid-up capital of RS 37 million. The first index was the KSE 100 index. KSE Indices Family ? KSE 100 The KSE100 index is a benchmark by which the stock price performance can be compared to over a period of time. In particular, the KSE 100 is designed to provide investors with a sense of how the Pakistan equity market is performing.Thus, the KSE100 is similar to other indicators that track various sectors of the Pakistan economic activity such as the gross national product, consumer price index, etc. The KSE-100 Index was introduced in November 1991 with base value of 1,000 points. The Index comprises of 100 c ompanies selected on the basis of sector representation and highest market capitalization, which tracks over 85% of the total market capitalization of the companies listed on the Exchange. ? KSE-30 Index The Karachi Stock Exchange has launched the KSE-30 Index with base value of 10,000 points, formally implemented from Friday, September 1, 2006.The main feature of this index that makes it different from other indices is: ? Based on the â€Å"Free Float Methodology† ? It includes only the top 30 most liquid companies listed on the KSE. ? KMI-30 ? Index introduced in September, 2008 ? Tracks the 30 most liquid Shariah-compliant companies listed at KSE weighted by free float adjusted market capitalization. ? Shariah Screening performed by Shariah Supervisory Board of Meezan Bank (chaired by Justice (Retd. ) Mufti Muhammad Taqi Usmani). ? KSE All Share Index ? It consists of all the companies listed on the KSE. ? KSE-GTOiOil & Gas Sector plays vital roles in Pakistan’s eco nomy and therefore KSE has developed a Tradable Oil & Gas Index which tracks at least 80% free-float market capitalization of the Oil & Gas Sector. This index provides Investors and Market Intermediaries with an appropriate benchmark that captures the performance of each segment of the economy. KSE-100 Composition Basis The selection criteria for stock inclusion in the existing KSE-100 Index is based on three main filters, namely Sector rule, Capitalization rule and Default rule. The top sector companies may also qualify for inclusion on the basis of their market capitalization. Sector Rule Largest market capitalization in each Karachi Stock Exchange sectors excluding Open-end Mutual Fund Sector ? The Largest Capitalization Rule The remaining index places are taken up by the largest market capitalization companies in descending order. ? The Default Counter and Non Tradable Rule Company which is on the Defaulters’ Counter and/or its trading is suspended; declare Non-Tradable ( i. e. NT) in preceding 6 months from the date of re-composition shall not be considered in the re-composition of KSE-100 Index . How many stocks are registered and categories? The total number of companies listed in KSE is 572 with a listed capital of RS. 1103072. 80 million ? In KSE companies are listed under following categories according to the nature of their industry. |Sector Wise Categories of Companies | |Oil and Gas |Pharma and Bio Tech | |Chemicals |Media |Forestry |Travel & leisure | |Industrial metals and mining |Fixed line Telecommunication | |General industries |Electricity | |Electronic and electrical Goods |Multiutilities | |Engineering |Commercial Banks | |Industrial Transportation |Non Life Insurance | |Support services |Life insurance | |Automobile and Parts |Real estate investment and services | |Beverages |financial services | |Food Producers |Equity Investment Instruments | |Household Goods |Software and computer services | |Leisure Goods. |Technology Hard ware and Equipment | |Personal Goods | | |Personal Goods | | |Tobacco | |Advance /Decline: If there is increasing trend in the prices of share then we said that the market gains the index or points and vice versa. Points: Points shows the Overall worth of the market. There are many factors that influence the market points and due to these factors market’s point increases or increases. These factors consist of formulae of capital structure and other related things. In Pakistan value of 1 point is approximately equal to 5 crores and it changes due to inflation and other economic factors. When an individual invest an amount equal to 5 Crores then 1 point increases and when he/she pull back his investment then 1 point decreases 1 point = 5 Crores Stock Exchange A stock market or equity market is a public (a loose network of economic transactions, not a physical facility or discrete) entity for the trading of company stock (shares) and derivatives at an agreed price; these are securities listed on a stock exchange as well as those only traded privately. The size of the world stock market was estimated at about $36. 6 trillion at the start of October 2008. The total world derivatives market has been estimated at about $791 trillion face or nominal value,[2] 11 times the size of the entire world economy. The stocks are listed and traded on stock exchanges which are entities of a corporation or mutual organization specialized in the business of bringing buyers and sellers of the organizations to a listing of stocks and securities together. The largest stock market in the United States, by market capitalization, is the New York Stock Exchange (NYSE). In Canada, the largest stock market is the Toronto Stock Exchange. Major European examples of stock exchanges include the Amsterdam Stock Exchange, London Stock Exchange, Paris Bourse, and the Deutsche Borse (Frankfurt Stock Exchange). In Africa, examples include Nigerian Stock Exchange, JSE Limited, etc. Asian examples include the Singapore Exchange, the Tokyo Stock Exchange, the Hong Kong Stock Exchange, the Shanghai Stock Exchange, and the Bombay Stock Exchange. In Latin America, there are such exchanges as the BM&F Bovespa and the BMV. A few decades ago, worldwide, buyers and sellers were individual investors, such as wealthy businessmen, usually with long family histories to particular corporations. Over time, markets have become more â€Å"institutionalized†; buyers and sellers are largely institutions (e. g. , pension funds, insurance companies, mutual funds, index funds, exchange-traded funds, hedge funds, investor groups, banks and various other financial institutions). The rise of the institutional investor has brought with it some improvements in market operations. Thus, the government was responsible for â€Å"fixed† (and exorbitant) fees being markedly reduced for the ‘small' investor, but only after the large institutions had managed to break the brokers' solid front on fees. (They then went to ‘negotiated' fees, but only for large institutions. History : Established in 1875, the Bombay Stock Exchange is Asia's first stock exchange. In 12th century France the courratiers de change were concerned with managing and regulating the debts of agricultural communities on behalf of the banks. Because these men also traded with debts, they could be called the first brokers. A common misbelief is that in late 13th century Bruges commodity traders gathered inside the house of a man called Van der Beurze, and in 1309 they became the â€Å"Brugse Beurse†, institutionalizing what had been, until then, an informal meeting, but actually, the family Van der Beurze had a building in Antwerp where those gatherings occurred; the Van der Beurze had Antwerp, as most of the merchants of that period, as their primary place for trading. The idea quickly spread around Flanders and neighboring counties and â€Å"Beurzen† soon opened in Ghent and Amsterdam. In the middle of the 13th century, Venetian bankers began to trade in government securities. In 1351 the Venetian government outlawed spreading rumors intended to lower the price of government funds. Bankers in Pisa, Verona, Genoa and Florence also began trading in government securities during the 14th century. This was only possible because these were independent city states not ruled by a duke but a council of influential citizens. Italian companies were also the first to issue shares. Companies in England and the Low Countries followed in the 16th century. The Dutch East India Company (founded in 1602) was the first joint-stock company to get a fixed capital stock and as a result, continuous trade in company stock emerged on the Amsterdam Exchange. Soon thereafter, a lively trade in various derivatives, among which options and repos, emerged on the Amsterdam market. Dutch traders also pioneered short selling – a practice which was banned by the Dutch authorities as early as 1610. 7] There are now stock markets in virtually every developed and most developing economies, with the world's biggest market being in the United States, United Kingdom, Japan, India, China, Canada, Germany's (Frankfurt Stock Exchange), France, South Korea and the Netherlands. Importance of stock market : The stock market is one of the most important sources for companies to raise money. This allows businesses to be publicly trade d, or raise additional financial capital for expansion by selling shares of ownership of the company in a public market. The liquidity that an exchange provides affords investors the ability to quickly and easily sell securities. This is an attractive feature of investing in stocks, compared to other less liquid investments such as real estate. History has shown that the price of shares and other assets is an important part of the dynamics of economic activity, and can influence or be an indicator of social mood. An economy where the stock market is on the rise is considered to be an up-and-coming economy. In fact, the stock market is often considered the primary indicator of a country's economic strength and development. Rising share prices, for instance, tend to be associated with increased business investment and vice versa. Share prices also affect the wealth of households and their consumption. Therefore, central banks tend to keep an eye on the control and behavior of the stock market and, in general, on the smooth operation of financial system functions. Financial stability is the raison d'etre of central banks. Exchanges also act as the clearinghouse for each transaction, meaning that they collect and deliver the shares, and guarantee payment to the seller of a security. This eliminates the risk to an individual buyer or seller that the counterparty could default on the transaction. The smooth functioning of all these activities facilitates economic growth in that lower costs and enterprise risks promote the production of goods and services as well as employment. In this way the financial system contributes to increased prosperity. Stock market index : The movements of the prices in a market or section of a market are captured in price indices called stock market indices, of which there are many, e. g. , the S&P, the FTSE and the Euronext indices. Such indices are usually market capitalization weighted, with the weights reflecting the contribution of the stock to the index. The constituents of the index are reviewed frequently to include/exclude stocks in order to reflect the changing business environment. Derivative instruments : Financial innovation has brought many new financial instruments whose pay-offs or values depend on the prices of stocks. Some examples are exchange-traded funds (ETFs), stock index and stock options, equity swaps, single-stock futures, and stock index futures. These last two may be traded on futures exchanges (which are distinct from stock exchanges—their history traces back to commodities futures exchanges), or traded over-the-counter. As all of these products are only derived from stocks, they are sometimes considered to be traded in a (hypothetical) derivatives market, rather than the (hypothetical) stock market. Leveraged strategies : Stock that a trader does not actually own may be traded using short selling; margin buying may be used to purchase stock with borrowed funds; or, derivatives may be used to control large blocks of stocks for a much smaller amount of money than would be required by outright purchase or sales. Short selling : In short selling, the trader borrows stock (usually from his brokerage which holds its clients' shares or its own shares on account to lend to short sellers) then sells it on the market, hoping for the price to fall. The trader eventually buys back the stock, making money if the price fell in the meantime and losing money if it rose. Exiting a short position by buying back the stock is called â€Å"covering a short position. † This strategy may also be used by unscrupulous traders in illiquid or thinly traded markets to artificially lower the price of a stock. Hence most markets either prevent short selling or place restrictions on when and how a short sale can occur. The practice of naked shorting is illegal in most (but not all) stock markets. Margin buying : In margin buying, the trader borrows money (at interest) to buy a stock and hopes for it to rise. Most industrialized countries have regulations that require that if the borrowing is based on collateral from other stocks the trader owns outright, it can be a maximum of a certain percentage of those other stocks' value. In the United States, the margin requirements have been 50 %% for many years (that is, if you want to make a $1000 investment, you need to put up $500, and there is often a maintenance margin below the $500). A margin call is made if the total value of the investor's account cannot support the loss of the trade. (Upon a decline in the value of the margined securities additional funds may be required to maintain the account's equity, and with or without notice the margined security or any others within the account may be sold by the brokerage to protect its loan position. The investor is responsible for any shortfall following such forced sales. ) Regulation of margin requirements (by the Federal Reserve) was implemented after the Crash of 1929. Before that, speculators typically only needed to put up as little as 10 percent (or even less) of the total investment represented by the stocks purchased. Other rules may include the prohibition of free-riding: putting in an order to buy stocks without paying initially (there is normally a three-day grace period for delivery of the stock), but then selling them (before the three-days are up) and using part of the proceeds to make the original payment (assuming that the value of the stocks has not declined in the In margin buying, the trader borrows money (at interest) to buy a stock and hopes for it to rise. Most industrialized countries have regulations that require that if the borrowing is based on collateral from other stocks the trader owns outright, it can be a maximum of a certain percentage of those other stocks' value. In the United States, the margin requirements have been 50 %% for many years (that is, if you want to make a $1000 investment, you need to put up $500, and there is often a maintenance margin below the $500). A margin call is made if the total value of the investor's account cannot support the loss of the trade. (Upon a decline in the value of the margined securities additional funds may be required to maintain the account's equity, and with or without notice the margined security or any others within the account may be sold by the brokerage to protect its loan position. The investor is responsible for any shortfall following such forced sales. ) Regulation of margin requirements (by the Federal Reserve) was implemented after the Crash of 1929. Before that, speculators typically only needed to put up as little as 10 percent (or even less) of the total investment represented by the stocks purchased. Other rules may include the prohibition of free-riding: putting in an order to buy stocks without paying initially (there is normally a three-day grace period for delivery of the stock), but then selling them (before the three-days are up) and using part of the proceeds to make the original payment (assuming that the value of the stocks has not declined in the In margin buying, the trader borrows money (at interest) to buy a stock and hopes for it to rise. Most industrialized countries have regulations that require that if the borrowing is based on collateral from other stocks the trader owns outright, it can be a maximum of a certain percentage of those other stocks' value. In the United States, the margin requirements have been 50 %% for many years (that is, if you want to make a $1000 investment, you need to put up $500, and there is often a maintenance margin below the $500). A margin call is made if the total value of the investor's account cannot support the loss of the trade. (Upon a decline in the value of the margined securities additional funds may be required to maintain the account's equity, and with or without notice the margined security or any others within the account may be sold by the brokerage to protect its loan position. The investor is responsible for any shortfall following such forced sales. ) Regulation of margin requirements (by the Federal Reserve) was implemented after the Crash of 1929. Before that, speculators typically only needed to put up as little as 10 percent (or even less) of the total investment represented by the stocks purchased. Other rules may include the prohibition of free-riding: putting in an order to buy stocks without paying initially (there is normally a three-day grace period for delivery of the stock), but then selling them (before the three-days are up) and using part of the proceeds to make the original payment (assuming that the value of the stocks has not declined in the New issuance : Global issuance of equity and equity-related instruments totaled $505 billion in 2004, a 29. 8 %% increase over the $389 billion raised in 2003. Initial public offerings (IPOs) by US issuers increased 221 %% with 233 offerings that raised $45 billion, and IPOs in Europe, Middle East and Africa (EMEA) increased by 333 %%, from $ 9 billion to $39 billion. Taxation : According to much national or state legislation, a large array of fiscal obligations are taxed for capital gains. Taxes are charged by the state over the transactions, dividends and capital gains on the stock market, in particular in the stock exchanges. However, these fiscal obligations may vary from jurisdictions to jurisdictions because, among other reasons, it could be assumed that taxation is already incorporated into the stock price through the different taxes companies pay to the state, or that tax free stock market operations are useful to boost economic growth.

Business Communication Report Hnc

Wordcount (Excluding appendices): 1516 {draw:frame} Jan Cervenka HC-BUS-F Group B 2009 – 2010 Table of Contents Introduction This report was commissioned by Doctors Campbell and Stewart and compiled by Jan Cervenka of Total Administrative and Organisational Solutions (TAOS). It was compiled in order to examine the organisational issues and problems of Cairnwell Health Centre. The organisation risks losing additional funding for the next five years if the problems are not solved. The main issues are low staff morale; high levels of stress-related absenteeism and a lack of appropriate IT. This report aims to examine these issues in detail and make recommendations for change. The organisation is Cairnwell Health Centre, which is located in the middle of the Hamewith housing estate in Fraserhead. It is headed up in partnership by doctors Campbell and Stewart. They employ a number of staff: a Practice Manager, two receptionists, two typists, an archivist and nursing staff. The capacity of the Centre is about 1000 patients. The report was to be submitted by 5 October 2009. Methods of Investigation Questionnaires were distributed to patients on 5th September Results were collected on 10th September. Staff questionnaires were distributed on 5th September 2009. Results were collected on 10th September 2009. Observation of the surgery was held on 11th September. Costing for new IT system was researched with Hewlett & Packard on 15th September 2009. Doctors Stewart and Campbell were interviewed on 20th September Findings Patient Questionnaires (Appendix 1) Of the one thousand copies of Patient Questionnaires, which were distributed among patients, there were eight hundred and seventy six replies. The outcome was debatable, as you can see in PATIENT QUESTIONNAIRE OUTCOME (Appendix 2). Staff questionnaire (Appendix 3) Ten copies of the Staff Questionnaire out of fifteen copies were handed back to staff. The outcome of the Staff Questionnaire was more definite (Appendix 4). All members of staff felt uncomfortable within their occupation. All of them thought that the approach of the Practice Manager and leading doctors was not satisfactory. Members of nursing staff stated that they felt they are forced to work overtime very often. The typists and receptionists also pointed out that IT equipment is out of date. Their complaints were mainly addressed to the stability of hardware and to theage of software applications. Sometimes, they were unexpectedly unable to type in or find out personal data of patients, this causes long delays. Staff also think that that IT equipment does not let them work as well as they can. The majority of staff members would also welcome more training, because they sometimes can not deal with problems they face every day. They do not know, for example, how to deal with rude or elderly patients properly. Observation The main issues, which were extracted from both Patient and Staff Questionnaires, were affirmed by the observation of the surgery. The observation was held in the reception area, waiting area and staff area. It was noticed, that queues at the reception were undesirably long. Approximate waiting time was between 15-20 minutes. The receptionists were unpleasant and frustrated. It was found that this was caused by the computer, which stopped working suddenly. One of the receptionists tried to calm down waiting customers, but not successfully. The Practice Manager started shouting at the receptionist instead of helping her. They often did not answer telephone calls. Research into IT solutions It was found that the IT systems of the surgery were out of date and thus, very slow and unstable. Sometimes, it was impossible to type in personal information of the patients, because memory storage of the computers was full. In some cases, it was also impossible to find out personal data of patients due to system failures. Problems with IT equipment lead to increasing stress levels of staff. During an appointment with an advisor of Hewlett & Packard, costing of IT equipment refurbishment was discussed. Interview with Doctors (Appendix 5) Both Doctors are ready to undertake appropriate changes in order to improve patient services rapidly. Conclusion It was found that the problems that the Surgery faces are serious and need to be solved as soon as possible. All members of staff do not feel comfortable within their occupation. They are not satisfied with the managerial staff of the Surgery. They are also not satisfied with the IT equipment. This leads to one of the biggest issues of the Centre – IT equipment. Both hardware are software are outdated. Problems with the IT is a major influence on stress-related absenteeisem. It was found that the doctors realise that the service provided to patients is not the best. They are ready to undertake appropriate changes to improve levels of provided service. Doctors Stewart and Campbell should consider the following recommendations in order to improve the efficiency of the Surgery. Recommendations To improve levels of the service provided to patients TAOS recommends following solutions. Staff meetings Meetings between the managerial staff, the leading doctors and the lower staff should be carried out regularly and communication between all members of staff should be improved. Occasionally, staff reports should be compiled. Relationships between members of staff Teambuilding Appropriate building courses should help to improve responsibility and behaviour at work of every member of staff. Refreshment facilities improvement IT systems improvement Training of Staff All members of staff should be trained in order to learn how to deal with patients and possible problems properly. Fosters Seminars and Communications Company (http://www. fosterseminars. com) can provide training courses for healthcare staff. For further information see Appendix 9. Appendices Appendix 1 PATIENT QUESTIONNAIRE Dear patients, _We would like to take this opportunity to ask you to fill in this short survey. Our company, Total Administrative and Organisational Solutions, is compiling a report about the surgery that you attend. Then, we can make reccomendations to improve the service provided to you. _ _Thank you for your help. _ _(Instructions: Choose an answer that you feel is right by ticking it)_ The attitude of nursing staff is: Poor Satisfactory Good Excellent The waiting times at reception are: Satisfactory Unacceptable The attitude of receptionist towards patients is: Poor Satisfactory Good Excellent The cleanliness of premises of the Centre is: Unacceptable Satisfactory Good Excellent Is there anything else that you think we should know about? Appendx 2 PATIENT QUESTIONNAIRE OUTCOME _Of the one thousand copies, eight hundred and seventy six replies were received. _ The attitude of nursing staff is: {draw:frame} The waiting times at reception are: {draw:frame} The attitude of receptionist towards patients is: {draw:frame} The cleanliness of premises of the Centre is: {draw:frame} In the comment section, patients wrote further feelings about surgery, which were not covered in prior questions. The majority of the patients are not satisfied with the approach of the receptionist. Many of patients also pointed out, that the equipment of the surgery is very good. They are satisfied with magazines, which are up to date. Appendix 3 STAFF QUESTIONNAIRE _Thank you for your help. _ _(Instructions: Choose an answer that you feel is right by ticking it)_ How do you feel about your job? Very satisfied Satisfied Dissatisfied Very dissatisfied How do you feel about the managerial staff? Very satisfied Satisfied Dissatisfied Very dissatisfied How do feel about your working hours? Satisfied Dissatisfied Very dissatisfied. Would you welcome more training? Yes, I would No, I would not Appendix 4 STAFF QUESTIONNAIRE OUTCOME _Out of 15 copies of the questionnaire, 10 replies were received. _ How do you feel within your occupation? {draw:frame} How do you feel about the managerial staff? {draw:frame} How do feel about your working hours? {draw:frame} Would you welcome more training? {draw:frame} In the comment section, staff members wrote down further feelings about their occupation. All of them pointed out the very poor IT equipment. This is discussed in the Findings section. INTERVIEW WITH DOCTORS STEWART AND CAMPBELL Summary of the interview Examples of questions *How do you feel about the service* which is provided to patients? Dr. Stewart I realis_e, that the service is not the best and I know, that we must improve it as soon as possible. Otherwise, we can lose funding for upcoming years. It would by mandatory for us. _ Dr. Campbell _I agree wit Dr. Stewart. I would like to tell you that we are trying to improve it, but we have not been successful so far. That is the reason why we hired TAOS – to help us. _ What do you think about high levels of stress-related absenteeism? Dr. Stewart I think, that the problem is caused by everyone. Not only by us and management. Still, I think, that the staff should work harder. Dr. Campbell _I realise, that the Practice Manager is often too demanding. Sometimes, he shouts at the staff without any reason. I think, that he should attend a training course. _ Appendix 6 Overview of the company Team building events for corporate clients†¦ We also provide central London Team Building activities, for example our London Treasure hunt which can be undertaken on foot and public transport, and our River Thames Rib Experience is a real show stopper. Appendix 7 To get more information about the RefresU Company, it is needed to make an appointment with a manager of this company. It is needed to fill in a contact form on their website. Contact adress: RefreshU Unit 18A Lenham Storage Ham Lane, Lenham, Maidstone, Kent ME17 2LH Phone number: 1234567891 Appendix 8 _ {draw:frame} _ Health solutions  » AMBER on HP systems  » Contracts management  » Electronic Health Records Hospital information systems  » Medical archiving solution  » Medical image management and PACS  » Printing & Imaging Appendix 9 _~WE CARE~ A Guide to Patient Sensitivity _SM Dealing with the Challenging Patient_ SM_ _Documentation in the Clinic SM_ Work is Not Just a Daycare Program for Adults_ SM_ Dealing with Employee Management and Workplace Issue s_ SM_ Mediating Disputes in the Workplace_ SM_ Reducing Conflict & Improving Communication_ SM_ Violence in the Workplace_ SM_ _Legal Issues and the Nurse Manager SM_ Avoiding the Malpractice Blues_ SM_ Get Fired Up, Not Burned Out_ SM_ {draw:frame}

Is Climate Change Affecting Biodiversity Professor Ramos Blog

Is Climate Change Affecting Biodiversity This power point addresses the question, Is Climate Change Affecting Biodiversity? https://docs.google.com/presentation/d/1nnFg1HgSQC_YX-TnhSKjPLEr1ZddtroyxE9byox0Nwo/edit?usp=sharing

Maslows Hierarchy of Needs Explained

Maslow's Hierarchy of Needs Explained Maslows hierarchy of needs is a theory by Abraham Maslow, which puts forward that people are motivated by five basic categories of needs: physiological, safety, love, esteem, and self-actualization. Key Takeaways: Maslow’s Hierarchy of Needs According to Maslow, we have five categories of needs: physiological, safety, love, esteem, and self-actualization.In this theory, higher needs in the hierarchy begin to emerge when people feel they have sufficiently satisfied the previous need.Although later research does not fully support all of Maslow’s theory, his research has impacted other psychologists and contributed to the field of positive psychology. What Is Maslow’s Hierarchy of Needs? In order to better understand what motivates human beings, Maslow proposed that human needs can be organized into a hierarchy. This hierarchy ranges from more concrete needs- such as food and water- to more abstract concepts such as self-fulfillment. According to Maslow, when a lower need is met, the next need on the hierarchy becomes our focus of attention. These are the five categories of needs according to Maslow: Physiological These refer to basic physical needs, such as drinking when thirsty or eating when hungry. According to Maslow, some of these needs involve our efforts to meet the body’s need for homeostasis; that is, maintaining consistent levels in different bodily systems (for example, maintaining a body temperature of 98.6 degrees). Maslow considered physiological needs to be the most essential of our needs. If someone is lacking in more than one need, they’re likely to try to meet these physiological needs first. For example, if someone is extremely hungry, it’s hard to focus on anything else besides food. Another example of a physiological need would be the need for adequate sleep. Safety Once people’s physiological requirements are met, the next need that arises is a safe environment. Our safety needs are apparent even early in childhood, as children have a need for safe and predictable environments and typically react with fear or anxiety when these needs are not met. Maslow pointed out that, in adults living in developed nations, safety needs can be more apparent in emergency situations (e.g. war and disasters), but this need can also explain why we tend to  prefer the familiar  or why we do things like purchasing insurance and contributing to a savings account. Love and Belonging According to Maslow, the next need in the hierarchy involves feeling loved and accepted. This need includes both romantic relationships as well as ties to friends and family members. It also includes our need to feel that we belong to a social group. Importantly, this need encompasses both feeling loved  and  feeling love towards others. Since Maslow’s time, researchers have continued to explore how love and belonging needs impact well-being. For example, having social connections is related to better physical health and, conversely, feeling isolated (i.e. having unmet belonging needs) has negative consequences for health and well-being. Esteem Our esteem needs involve the desire to feel good about ourselves. According to Maslow, esteem needs include two components. The first involves feeling self-confidence and feeling good about oneself. The second component involves feeling valued by others; that is, feeling that our achievements and contributions have been recognized by other people. When people’s esteem needs are met, they feel confident and see their contributions and achievements as valuable and important. However, when their esteem needs are not met, they may experience what psychologist Alfred Adler called â€Å"feelings of inferiority.† Self-Actualization Self-actualization refers to feeling fulfilled, or feeling that we are living up to our potential. One unique feature of self-actualization is that it looks different for everyone. For one person, self-actualization might involve helping others; for another person, it might involve achievements in an artistic or creative field. Essentially, self-actualization means feeling that we are doing what we feel we are meant to do. According to Maslow, achieving self-actualization is relatively rare, and his examples of famous self-actualized individuals include Abraham Lincoln, Albert Einstein, and Mother Teresa. How People Progress Through the Hierarchy of Needs Maslow postulated that there were several prerequisites to meeting these needs. For example, having freedom of speech and freedom of expression, or living in a just and fair society, aren’t specifically mentioned within the hierarchy of needs. However, Maslow believed that having these things makes it easier for people to achieve their needs. In addition to these needs, Maslow also believed that we have a need to learn new information and to better understand the world around us. This is partially because learning more about our environment helps us meet our other needs; for example, learning more about the world can help us feel safer, and developing a better understanding of a topic one is passionate about can contribute to self-actualization. However, Maslow also believed that this call to understand the world around us is an innate need as well. Although Maslow presented his needs in a hierarchy, he also acknowledged that meeting each need is not an all-or-nothing phenomenon. Consequently, people don’t need to completely satisfy one need in order for the next need in the hierarchy to emerge. Maslow suggests that, at any given time, most people tend to have each of their needs partly met- and that needs lower on the hierarchy are typically the ones that people have made the most progress towards. Additionally, Maslow pointed out that one behavior might meet two or more needs. For example, sharing a meal with someone meets the physiological need for food, but it might also meet the need of belonging. Similarly, working as a paid caregiver would provide someone with income (which allows them to pay for food and shelter), but can also provide them a sense of social connection and fulfillment. Testing Maslow’s Theory In the time since Maslow published his original paper, his idea that we go through five specific stages hasn’t always been supported by research. In a 2011 study of human needs across cultures, researchers Louis Tay and Ed Diener looked at data from over 60,000 participants in over 120 different countries. They assessed six needs similar to Maslow’s: basic needs (similar to Maslow’s physiological needs), safety, love, pride and respect (similar to Maslow’s esteem needs), mastery, and autonomy. They found that meeting these needs was indeed linked to well-being. In particular, having basic needs met was linked to people’s overall assessment of their lives, and feeling positive emotions was linked to meeting the needs of feeling loved and respected. However, although Tay and Diener found support for some of Maslow’s basic needs, the order that people go through these steps seems to be more of a rough guide than a strict rule. For example, people living in poverty might have trouble meeting their needs for food and safety. However, these individuals still sometimes reported feeling loved and supported by the people around them- meeting the previous needs in the hierarchy wasn’t a prerequisite for people to meet their love and belonging needs. Maslow’s Impact on Other Researchers Maslow’s theory has had a strong influence on other researchers, who have sought to build on his theory. For example, psychologists Carol Ryff and Burton Singer drew on Maslow’s theories when developing their theory of eudaimonic well-being. According to Ryff and Singer, eudaimonic well-being refers to feeling purpose and meaning- which is similar to Maslow’s idea of self-actualization. Psychologists Roy Baumeister and Mark Leary built on Maslow’s idea of love and belonging needs. According to Baumeister and Leary, feeling that one belongs is a fundamental need, and they suggest that feeling isolated or left out can have negative consequences for mental and physical health. Sources: Baumeister, Roy F., and Mark R. Leary. â€Å"The Need to Belong: Desire for Interpersonal Attachments as a Fundamental Human Motivation.† Psychological Bulletin 117.3 (1995): 97-529. https://www.ncbi.nlm.nih.gov/pubmed/7777651ï » ¿Kremer, William, and Claudia Hammond. â€Å"Abraham Maslow and the Pyramid That Beguiled Business.† BBC (2013, Sep. 1). https://www.bbc.com/news/magazine-23902918Maslow, Abraham Harold. â€Å"A Theory of Human Motivation.†Ã‚  Psychological Review  50.4 (1943): 370-396. http://psycnet.apa.org/record/1943-03751-001Ryff, Carol D., and Burton H. Singer. â€Å"Know Thyself and Become What You Are: A Eudaimonic Approach to Psychological Well-Being.†Ã‚  Journal of Happiness Studies  9.1 (2008): 13-39. https://link.springer.com/article/10.1007/s10902-006-9019-0Tay, Louis, and Ed Diener. â€Å"Needs and Subjective Well-Being Around the World.†Ã‚  Journal of Personality and Social Psychology  101.2 (2011): 354-365. http://psy cnet.apa.org/record/2011-12249-001Villarica, Hans. â€Å"Maslow 2.0: A New and Improved Recipe for Happiness.† The Atlantic (2011, Aug. 17). https://www.theatlantic.com/health/archive/2011/08/maslow-20-a-new-and-improved-recipe-for-happiness/243486/