Case Presentation “Please Dont Let Me Die” Essay

The ethical principal showcased in this case presentation was beneficence. The nurses were not thinking beneficially of the resident in any aspect of their practice. A professional nurse would not consider leaving a floor with only three nursing assistants to care for 100 patients. The nursing assistants do not have the authority to manage a floor, the license to ensure patient care, nor do they possess the required knowledge to assess patients or delegate tasks. The institutional constraint would be the state of severe understaffing. For a facility of one hundred patients to be cared for by only three nurses significantly lowers the standard of care. According to a chart in the Journal of Scholarly Nursing (2010), Ohio standards are to have a ratio of one licensed nurse to every fifteen direct care patients in a nursing home facility (p 91). This presentation, even with the ten additional nursing assistants, was still understaffed with these standards. Although understaffed, the nurses are culpable because the patient was not thoroughly assessed. As a part of the scope and standard of nursing, an assessment would have revealed the need for a focused assessment. The focused assessment would have directed the nurses to signs and symptoms of the bowel obstruction, or led to further investigation. Provision Six is associated with the presentation in that it is essentially concentrating on ethical decision making in the workplace. Stated in Provision Six (2010), â€Å"Professional nurses make decisions that significantly affect the lives of others on a daily basis† (p.72). The nurses caring for Loren Richards should have used Provision Six in deciding when to take a break. There are several characteristics I would have changed about the presentation. Firstly, none of the nurses voiced the aversion for the short staffing. I feel strongly about this being a issue and would have mentioned something to management or the director of nursing. Secondly, the amount of professionals taking a break at the same time was exceptionally unethical. Scattering breaks throughout the shift would have been a more superior decision. Finally, pain is the fifth vital sign and when a patient is complaining, it is a nursing standard to assess. To add vomiting to his signs, and no action was taken, is complete contrary to my nursing practice. References Harrington, C., Choiniere, J., Goldmann, M., Jacobsen, F., Lloyd, L., McGregor, M., & †¦ Szebehely, M. (2012). Nursing Home Staffing Standards and Staffing Levels in Six Countries. Journal Of Nursing Scholarship, 44(1), 88-98. doi:http://dx.doi.org.proxy.library.ohiou.edu/10.1111/j.1547-5069.2011.01430.x Olson, L. (2010). Provision Six. In Guide to the Code of Ethics for Nurses (p. 72). Silver Spring , Maryland: nursesbooks.org.

Herd Behavior in Financial Market Essay

Definition of herding On Friday 14 September 2007, when Northern Rock in the UK opened it branches, many customers wanted to withdraw their savings and à ¯Ã‚ ¿Ã‚ ½1 billion, about 5% of the total bank deposits were withdrawn that day. And on Monday 17 September, a similar situation happened in front of Northern Rock branches in the UK. Even though every customer does not have the same amount of information, they all decided to behave in the same way and some were following the others on the following days without any clear plan. People thought that they were going to lose their bank deposits and that type of bank customers’ behavior caused liquidity problem and made the situation even worse. However, none of the clients who kept their deposits lost due to the fact the British Government and the Bank of England would guarantee the safety of the deposits. How can we explain that kind of behavior? Originally Herding is a term meaning animal flocking behavior. And according to the definition of Wikipedia Herding is the act of bringing individual animals together into a group (herd), maintaining the group and moving the group from place to place-or any combination of those. Apart from this bank run case, Herd behavior describes how individuals in a group can act together without planned direction. POSSIBLE EXPLICATION AND MECHANISM OF HERD BEHAVIOR Animals’ Herd Behavior According to evolutionary biologist W. D. Hamilton’s theory animals are forming a group to reduce the danger of being hunted by predictors. As a unit, they are moving together to the same direction. Animals are behaving in the same way to minimize the risk on the behalf of self-protection. Maybe this kind of behavior sounds rational if the result is always optimistic but copying your neighbor can be the worst decision sometimes. When something goes wrong and someone leads the group to the wrong direction, the whole group is going to be in danger. Human Herd Behavior However, human herd behavior is much more complicated than animals’ one and several scholars tried to explain it. Friedrich Nietzsche referred it as â€Å"herd morality† and the â€Å"herd instinct† which explain the phenomena when a lot of people are behaving in the same way at the same time. And according to Thorstein Veblen’s theory, some people imitate the other people with higher status. Human beings are continuously competing with others in order to survive or surpass others, and they try to move faster in order to take advantage of the others. As the proverbs says the early bird catches the worm, they think the faster they make the decision or do whatever they can, the better it is. However, this does not always lead to success. Those decisions are based on the sources they have and the sources are Sanctions upon deviants – dictators put their rivals in the prison (opposition is not allowed) Preference interactions – some people are wearing Burberry coats just because the majority is wearing it while others prefer to wear coats with the colors they like Direct communication – someone from your reference group or someone with credibility says that s/he likes certain products Observational influence – you observe the consequences of others’ actions Based on such sources, people make decision whether to herd or disperse, but people are herding for different reasons and their behavior is classified into several models. Herding Models Payoff Externalities Models (also called Network Externalities) – If more people are using facebook, it will attract more people to use facebook. In this case, people feel like they have to participate in the same situation so that they can have the same benefits. Information Cascade Models – When you have a flood of information coming in, it is much more difficult to make a rational decision. Nowadays there are too many sources to consider and you can barely judge if information is true or false. In this kind of situation, people are getting irrational and they tend to make decision based on the decision of the majorities, and this situation is called information cascade which occurs when people observe the actions of others and then make the same choice that the others have made, independently of their own private information signals. They are seen in groups under immediate stress from external forces, such as herd behaviour. A cascade arises naturally when people usually see what others do but not what they know. Because it is usually sensible to do what other people are doing, even this can be against what the individual believes to be true. This behavior is independent from their own private information or opinion. Concept of information cascade is based on observational and social learning. People learn from their environment. Generally, people are oriented to avoid negative consequences of their decisions or behaviors. They wish to have positive results or effects. That’s why their behavior is related to social and observational learning. People subconsciously have the idea of ‘It is more likely that I am wrong than that all those other people are wrong. Therefore, I will do as they do’. Examples of Herding Behavior Bank runs: depositors running on banks when they observe other depositors doing so. More specifically, First; investors can observe in long run when others are running on banks. Second, forcing long-term projects to liquidate early possibly leads to shortfall of funds. From the payoff externalities model’s view, people are withdrawing their deposits because they feel like they are losing their money if they keep their money on the bank account. And from informational cascade model’s view, some people may think they are not going to lose their money on their bank account but they are following the others because they think they are not wise enough and others are withdrawing their money. In real case, Argentina experienced such a run in the last two days of November 2001, with total deposits in the banking system falling by more than 2 billion (US) dollars, or nearly 3 percent, on the second day of the run alone.1 Such runs were a common occurrence in the United States in the late nineteenth and early twentieth centuries and have also occurred in recent times in several developing countries, including Brazil in 1990 and Ecuador in 1999. Asian crisis of 97-98, herding and speculation infection The Asian crisis of 1997-98 that led to a regional economic fall in East Asia can be traced to overexpansion and under-regulation. The center of the Asian crisis was Thailand’s careless macroeconomic management that featured a fraudulent financial sector. The Asian expansion of the crisis was a due to the existing global financial integration (and similar export dependencies), current account inequities and attached exchange rates all mixed with the damaging effect of speculation and herding spreading all over the region. Resulting structural reforms and adjustments in Thailand and other damaged Asian nations came from the International Monetary Fund. A major result was a balanced exchange rate regime now prevalent in much of East Asia. Facts: During 1995 a number of experts started to wonder if the countries of Southeast Asia might be vulnerable to a macroeconomic crisis do to the poor administration of its financial procedures and to the volatility of their related economies. The main indicator was the rise of very large current account deficits among several Asian countries. Closer examination also revealed that several of the countries had developed some financial weaknesses: heavy investment in highly speculative real estate ventures, financed by borrowing from badly informed foreign sources or by credit from non regulated domestic financial institutions. It’s now known that during 1996 officials from the IMF and World Bank actually began warning the governments of Thailand, Malaysia, and other countries of the existing risks by their financial situation, and asked them to apply corrective policies. However, those governments rejected the warnings. On July 2 1997, after months of declaring that it would not happen, the government of Thailand abandoned its efforts to maintain a fixed exchange rate for its currency, the baht. The currency was quickly depreciated by more than 20 percent so within a few days most neighboring countries fell like Thailand. What forced Thailand to devalue its currency was the massive speculation against the baht, assumptions that over a few months had consumed most of what initially seemed as a large war of foreign exchange. And why were speculators betting against Thailand? Because they expected the baht to be devalued, of course. This kind of circular logic – in which investors escape a currency because they expect it to be devalued, and much of the pressure on the currency comes precisely because of this investor shortage of confidence – is the defining actor of a currency crisis and is known as Bank Run theory. In the context of a currency crisis, such behavior could mean that a wave of selling, whatever its initial cause, could be magnified through complete imitation and turn, into a rush out of the currency. Bank run in Thai currency devaluation can be viewed in two main behaviors. First; investors run when other investors are running the bank; a magnified opinion of a certain group starts to be spread in some others by just herding or imitation. Second, when banks that were investing in long-term projects were forced to liquidate early (because of the invertors running away), there was a potential lost of funds. Consequently, the last depositors to withdraw were left empty-handed (first-come, first-served limitation). BUBBLES Bubbles are sort of mass errors caused by the nature of herd. Even though there is a convincing evidence of bubbles, people are still overly convinced by their belief that market is efficient and rational. Therefore people are optimistic of their investment and they take part in the bubble. Some people may doubt the situation and find some evidence of bubbles but they still invest their capital in the market because others are doing it which is a sort of informational cascade. However, the bubble collapses and that sort of herding behavior makes the impact of the collapse much significant. The Dot-com Bubble The dot-com bubble (also referred to as the Internet bubble) was a speculative which had its climax on March 10, 2000, with the NASDAQ hitting up to 5132.52 but closing at 5048.62 in the same day. During the dot-com bubble period mostly the developed countries experienced the growth in the Internet sector and related fields. Companies such as Cisco Systems, Dell, Intel, and Microsoft were the dominant player of NASDAQ. And related to the Internet business a group of new Internet-based companies commonly referred to as dot-coms were founded. Just because of the fact that Companies had a name with an â€Å"e-† prefix to their name and a â€Å".com† the stock price was going up. Investors were overly confident of their future profits due to the advancement of technology and individual speculation while they overlooked traditional stock market value until the bubble was collapsed. Conclusion As we can see massive herding behavior turned out to be a cause of crisis at the end, and herd behavior is seen as something very negative to the market. As we have seen bank runs, bubbles, and several forms of crises. However, we cannot prevent from herding because it is a sort of instinct and it is closely related to psychological factors. Partially, individuals can make profit of their herding behavior as they are following famous investors such as Warren Buffet but the fact is that no investor can really avoid bubbles and forecast the coming crises. What we have to remember is the financial market is a complex of rational and irrational behavior and we can barely categorize them before the disaster happens. We have to be prepared of the consequence the herd behavior and be rational when the irrationality happens. Works Cited BIKHCHANDANI, S., 1998, Learning from the behavior of others: conformity, fads, and informational cascades BIKHCHANDANI, S., D. HIRSHLEIFER and I. WELCH, 2001. Informational Cascades and Rational Herding: An Annotated Devenow, Andrea and Ivo Welch, 1996, Rational Herding in Financial Economics, European Economic Review 40, 603-615 Ennis, Huberto M. and Todd Keister, 2009, Bank Runs and Institutions: The Perils of Intervention. Hirshleifer, David and Teoh, Siew Hong, 2011, Herd Behavior and Cascading in Capital Markets: A Review and Synthesis, MPRA Paper No. 5186

Growing Skywest Airlines Essay Example | Topics and Well Written Essays - 1000 words

Growing Skywest Airlines - Essay Example SkyWest Airline has a number of opportunities that it can leverage. These opportunities includes planes that can carry double or triple the capacity of the smaller planes , seasonal increase in number of travels, the company has its own fueling terminals which makes it enjoy low fuel prices, and the ever increasing cost in other means of traveling including car and train (Thomas, 2011). The company can utilize this opportunities to improve its market share as well as the profit margin. The following explanations illustrate a number of inroads that the company can use towards improving its profit. The load capacity of the larger planes predisposes the company to expand its market. The company can make inroads into the new market by promoting the services offered by these large planes. Presently, the company is leading in providing airline transport services to its consumers. Arguably, promotion would increase the consumer awareness about the existence of the planes. Further, the company can utilize the promotional opportunity to open its market. Marketing critics believe that promotion helps in improving the market brands (Palepu, et.al. 2007). Similarly, the company can tap this opportunity to not only market its services in the greater North America, but also improve the general market share. The large capacity planes can enable the company to enjoy the economies of scale. This means that when these planes ply in the same routes as the previous planes, the company would be incurring less production or maintenance cost as opposed to the use of many small capacity planes. SkyWest Airlines can use the pricing strategy as a marketing tool to enjoy a larger market share. As stated above the large planes have large load capacity, which makes the company to enjoy a big profit margin. Therefore, a move to reduce or use pricing

People and Church of Nicaragua Case Study Example | Topics and Well Written Essays - 250 words

People and Church of Nicaragua - Case Study Example People and Church of Nicaragua had huge expectations from Pope Paul II’s visit to the state in 1983. When the people led regime became autocratic and denied the common man its right to survive and prosper, the Marxist revolutionaries started fighting for the welfare of the people. The Church of the ‘poor’ also aligned with the Marxist revolutionaries and proactively supported their cause (Gutià ©rrez, 1973; Belli, 1988). The Pope’s visit was therefore highly significant for the Nicaragua Church as well as for the people because they saw it as intangible support and a means to convince the government for social reforms that would benefit the common man (Foroohar, 1989; Williams, 1985). But unfortunately, Pope’s visit was a huge let down for Nicaragua’s people and the Church. The major objective of the visit of Pope John Paul II was to proclaim that Catholic Church did not support communists. The huge congregation assembled at the Plaza was hop eful that Pope would lend support to the people’s revolution and decry the mass carnage by government led death squad. But Pope’s silence on the issue was a big disillusion for the priests and public but later wrote a letter ‘denouncing Popular Church’(Dew, 1983:632). He neither condoled the deaths of priests, nuns and innocent people nor made any effort to talk with Nicarguan priests so that could put their case personally. Despite people’s incessant chant, ‘Holy Father, we beg you for a prayer for our loved ones who have been murdered’, Pope was unmoved (Boyt, 1983). Pope’s agenda to his Nicaragua visit was politically inclined and defied wider human welfare. The priests’ fears came true and they along with people of Nicaragua became the innocent victims of oppressive regime that got the approval from the highest authority of Catholic Church, when Pope remained silent on the issue in his visit.

Admin Law Question 1 + 2 (750-750 words) Essay Example | Topics and Well Written Essays - 1500 words

Admin Law Question 1 + 2 (750-750 words) - Essay Example By s1 of the 1967 Act he is appointed by the Queen on the advice of the PM and holds office until the age of 65. Especially in relation to JR, the procedural requirements of public law element, leave, locus standi, time limits and grounds often deny speedy redress to the applicant. Matters such as delay, incompetence, stupidity, loss of documents, rudeness etc cannot be the subject to the JR. But, these fall within PCA’s jurisdiction. Disadvantage: the MPs check the legitimacy of complaints and it is called MP Filter. If a MP is the main culprit, claimants never get redress. In this sense MP enjoy more power. At the same time each year lots of letter of complain arises which not possible to review for an ombudsman. The most important factor to mention is the ombudsman will not investigate complaints where an alternate remedy exists. Ombudsmans powers of investigation are limited, for example-maladministration. 3) The PCA has had an impact on certain more High profile cases such as ‘Sachsendhausen’ case where the PCA found maladministration in distributing compensation. A recent example is the ‘Barlow Clowes Affair’. Jurisdiction: The 1967 Act should be amended to provide that the PCA could investigate all complaints other than those relating to matters specifically excluded. However, the govt. rejected this proposal. However MPs have some great advantages as redressers of grievances. Their services are free and easily accessible; many MPs take great pains to advertise their surgery times and other means of contract in the local media. Most are assiduous in taking up grievances, and often the mere fact of receiving a letter from an MP, rather than from an ordinary citizen, will induce the authority to give a favorable response. Further, the Mp’s services are equally useful whether the constituent is asking for the correction of an error or the more favorable exercise of discretion, where no legal

Muscle is highly plastic and many changes occur in muscle as a result Essay - 1

Muscle is highly plastic and many changes occur in muscle as a result of neurological disease. Critically evaluate this statement - Essay Example Notably, in MS disease, the muscles loses their elasticity, spasm and rigidity ensue (Nylander & Hafler, 2012). Multiple Sclerosis (MS) is one of the conditions of neurons origin that causes extensive muscles involvement. After extensive research, it was established that the disorder was of one the muscles-involving disease that continue to impair muscles plasticity. Together with other diseases such as Myasthenia gravis, Parkinson, it has been established that muscular involvement in these diseases arises from the neuromuscular connection. Multiple sclerosis refers to a neuron disease that occurs when nerves undergo degeneration resulting in loss of functions. The exact cause of the disease is largely unknown. However, existing studies links it to an autoimmune disorder that cause destruction of nerves (Compston & Coles, 2002, 2008b). In other severe cases, loss of nerves functioning causes permanent disability since nerves cannot be regenerated. This focus will examine existing literature to provide an association of muscles properties and neurological involvement. Muscle is an integral part of the skeletal and even visceral parts of the human body. There are of either skeletal or visceral origin. Irrespective of their types, they are needed for normal body function. More specifically, skeletal muscles are necessary in support and movement and visceral muscles are primary parts of internal organs. Besides, they facilitate tissues and organ varied degree of changes including peristalsis. However, in MS, muscles are significantly impaired depending on their location and severity of the disease. To understand the basis of muscles involvement in MS, it is important to look at the Central Nervous System (CNS) and more specifically structural components of a nerve. One way to understand this is to consider myelin sheath autoimmune destruction. During MS, there is gradual attack of the myelin

Using Technology in Tertiary Education Essay Example | Topics and Well Written Essays - 1500 words - 1

Using Technology in Tertiary Education - Essay Example In addition, with the technology, social media has also been playing an influential role in reframing the educational sectors all around the world. Competitive universities today have further become quite concentrated on making a better use of the information and the platform rendered by the social media of 21st century for the educational processes. It is in this context that technology in alliance with the implications of social media tends to create both advantageous and disadvantageous impacts upon the educational sector which can be identified as the complex and multidimensional phenomenon (Carr, 2012). Based on this context, the study will intend to offer a comprehensive understanding of the impacts created by technology upon education sector, emphasizing upon the classroom or lecture environment of the tertiary education process. In this regard the discussion will also take into account the role played by social media in transforming the traditional learning process by means o f rapidly advancing technology. Concerning the current day context, it can be apparently observed that universities are becoming increasingly inclined towards utilizing technological advancements in the traditional education systems to obtain greater competitive advantages through differentiation (Schwartz, 2012).In this regard, various benefits can be observed to be yielded by the universities by making use of technologies. For instance, the utilization of advanced technology has often observed to assist the educators to effectively communicate to the learners with practical illustration with a live display, which further helps the students to obtain a clear view of the topic or subject. Technology involvement in tertiary education can also be observed to present the subject matter as more interesting to the students. Technology involvement has been encouraged in the educational sectors also due to the reason that it helps in more active learning of the students.