Working capital Essay Example | Topics and Well Written Essays - 3250 words

Working capital - Essay Example Accounts receivable analysis is very important for cash is the lifeblood of the company. Accounts receivable must be converted to cash as soon as possible. This is where the AVERAGE COLLECTION PERIOD financial management tool is used regularly. The longer the average collection period, the lesser the liquidity ratio will be. The average collection period is dependent on the accounts receivable customers' ability to pay. To go deeper into the analysis, Ability to pay is dependent on the accounts receivable clients' liquidity. A client that has just lost his or her job will have difficulty to pay your accounts receivable. A customer that has just run away because such customer has not intention of paying you when you will both meet will also affect the average collection period. When the average collection period is decreased, then the availability of the cash will increase liquidity. The increase in liquidity will result to a better financial statement. A better financial statement picture will increase the company's probability for the bank's approval of its long-term loan. It also follows that sales are generated through the use of two methods. Cash sales are the first method of sales generation. Cash is received in exchange for goods that are sold to the company's customers.The second method (credit or account sales) will generate twice or even thrice the total amount of cash sales that the business produces. Are the sales on account Customers are allowed to take home the products they want to buy and the cash payment will be received either a few days or a few months or even a year or more from the customers' actual taking possession of the products sold. It is also common knowledge, from personal experiences since our childhood transactions that not all things borrowed will be returned.Therefore, since some of the objects like books, pencils, bikes, or car, cash and others will be borrowed, we have accept the fact that there is a fine line between borrowers where companies are at risk of not being paid and the borrowers who are of good standing bec ause they pay their monthly dues on time. One of the criteria that the banks and other business institutions approve the sale to clients ON CREDIT is to determine, based on the CREDIT customers' work related data, that there is a probability that the customers will pay their dues on time.Allowance for Doubtful accounts is the accounting title for the estimated amount of accounts receivables from customers, subsidiary companies, branches and others that has a high probability of not being paid. The average collection period is the average length of time that the accounts receivables will not be paid by accounts receivable customers. It is simply the quotient when the total outstand accounts receivable is divided by the average daily sales. Another term for this is the collection ratio. The main headache of the finance director of Raphael limited is that the company had

Renting vs. Buying a Home Essay Example for Free

Renting vs. Buying a Home Essay Everyday someone is making the decision to move, whether it be across the country or a few blocks away. When you make the decision to move the next question that comes up is whether or not you should buy or rent a home. Careful consideration should be given when making this decision; carefully look at your finances and family situation. Buying a home should never be done lightly and if buying is too much for your family then perhaps renting is the option that you may want to consider. Take a look at the various options and no matter what you decide to do, buy or rent, the choice should suit your financial needs, location, your responsibilities, and family’s needs. Ask yourself if you have the money to buy a home or do you simply rent? When buying a home, your mortgage payments stay the same for the life of the loan. There was a time when you needed to have 20% for the down payment and also have the money for the closing costs, but that isn’t the case anymore. There are different types of loans that will enable the average person to only need 3.5% down and 3.5% of the closing costs, the rest will figured into your loan amount. Anything that you do pay towards your new home is tax deductable. Now don’t forget to figure in property taxes and insurance, those are the items that can go up in price as time goes by. The best part about renting a home is that you only need to have the first and last month’s rent and perhaps a small deposit for keeping a dog or a cat. Some rents can go up every year, but the average is 5% every year. A very serious question to consider is whether or not you can live where you want to live and once that’s settled, then you might want to consider if you want to stay there. When buying a home you can live anywhere there is a home for sale, the choice is yours. The decision in staying where you buy might be taken out of hands if you can’t sell right away and most economists will tell you th at you should stay in your home at least 7 years in order to benefit from buying. The same  applies for renting a home, you can live anywhere there is a home or apartment for rent, again the choice is yours. The deal with renting is that you have to stay as long as your lease is in effect, which can usually go from year to year and gives you more flexibility if you want to move. Considering the responsibility that you will need to give towards your residence, careful thought should be given. When you buy a home the responsibility to maintain the home and fix things that need to be repaired are all yours. You pay to have someone fix your home or do it yourself, either way if it needs to be done you are the one to do it. Having to take responsibility for your own repairs and maintenance is not all bad; there is a pride that comes with home ownership. There are certain repairs that are tax deductable and also certain improvements that are tax deductable, check with your local IRS office and find out what you as a home owner can take advantage of. When you rent a home or apartment the repairs are the responsibility of the owner of the property and that isn’t you. When you rent if there is something that does need to be repaired, you are at the mercy of the owner to get the repairs done. Sometimes you have to wait an indefinite amount of time and sometimes they fix things right away, the choice is theirs to make and they may not see a problem as urgent. In addition to responsibility, you really need to consider whether or not your decision makes sense for your family. When buying a home, your investing in the future of your family, everything you do to improve your home increases the value. When buying a home, the home is yours to do with as you like, as long as you follow the codes in your area, you can add a room, tear down a wall or paint the house orange, no one can tell you that you what to do. Most children and adults thrive in a stable environment and owning your home can give that stability. Perhaps your family can get that dog they have all been talking about, install a pool, or plant trees. The problem can arise with the uncertainty of the unknown, we do not know what is going to happen tomorrow, will your job relocate, will you still have a job, and will this new home be all that we hoped it would be; buyer’s remorse can be a very real dilemma. When renting you have freedom, all your time, effort, and money is not put into taking care of the place where you live. Speaking of freedom, renting is the best way to see if an area suits you and your family before you make that big commitment to buy. If you are not sure where you  want your family to live for the next few years, then renting can be a way to try out new places and give you a chance to find the place that works for you. There are so many things to consider in the decision to buy or rent a home, as a consumer only you know what is right for you and your family. Studies show that buying a home is the better deal in the long run, but sometimes that may not suit your needs. There are so many pro’s and con’s to either choice, do I want to do repairs, can I do repairs, can I have animals, do I want to stay in the same place for more than 7 years, do I like the area? When I made the decision to buy my own home I had lived in the same area for more than 10 years and I knew that I wanted the freedom of owning, I wanted something that is all my own, but it took some time renting to come to that decision and what is right for me might not be right for someone else. Whatever you decide to do buy or rent, that choice should suit all your needs and the needs of your family.

Essay --

The Wall Street Crash of 1929 was one of the most devastating times in the history of the United States of America, it plagued each city and town with starvation, homelessness and even suicide. The twenties were truly a tough time for the US and all of its citizens. The Roaring Twenties, the decade that came after World War I and inevitably led to the Wall Street Crash, came in a time where money and wealth were prevalent. Coming after the war, the United States had great confidence, a large amount of Americans who lived in secluded areas or small towns moved to the big cities to promote an industrial living style in the United States. While the American cities flourished and blossomed into the greatest places on earth,the amount of people who moved to the big cities left the agricultural ways of the US in the dust, leaving the farmers in economic shock, making agriculture the main reason for a major loss of money in the US. This happened throughout the decade and would later be blam ed as one the main factors that led to the 1929 stock market crash. Over the weekend of October 26th and 27th , the activity of the Stock Market was known and read all across the United States. On October 28, "Black Monday", a huge amount of investors decided to abandon the stock market in order to maintain their personal wealth, and the downfall erupted with a record loss in Dow Jones Industrial for the day of 38.33 points, or 13%.(Galbraith 47) The next day, "Black Tuesday", October 29, 1929, about sixteen million shares were traded, and Dow Jones lost an additional 30 points, or 12%, talk flurried that U.S. President Herbert Hoover would not veto the pending Smoot-Hawley Tariff Act. The volume of stocks traded in order to maintain wealth or at... ...usinessmen in 1932 when things were just about at their worst. Squalid cardboard campsites were created in cities to live in...called "Hoovervilles". The nick-name of the soup given out by charities for the unemployed was "Hoover stew". However, Hoover did do some good. Money was used to create jobs to build things such as the Hoover Dam. In 1932 he gave $300 million to the states to help the unemployed (Emergency Relief and Reconstruction Act) but it had little impact as states run by the Republicans believed in "rugged individualism" more than Hoover did and they used only $30 million of the money offered to them. Which seems backwards, but they stood behind what they believed in and it ended out fine. The stock market crash of 1929 was the most significant crash in U.S. history. Although the crash itself only lasted four days, it led to a catastrophic sell-off.

My Counseling Theory Paper Essay

Running head:Finding Meaning Finding Meaning in Life Sandy Patty Made Up University Abstract What is to be said about life and circumstances? There are many different theories and perspectives about it, but my concern is when someone feels they have to be subject to their circumstance. Further in this paper I will discuss my personal counseling theory and how I believe that not one person has to be ruled by a certain circumstance and that they are not by any means validated by one person because they have the opportunity to discover meaning in their life for themselves and discover an array of opportunities in life. Finding Meaning in Life Introduction My story is not something new or one that has never been told before, but it is unique to me and bears significant value due to the way that it shaped and formed me into the person I am today and the reason for me pursuing a career in counseling. I come from a mixed, biracial, and very religious family. The women in my family all seem to have gone through significant and grave hardships and/or traumatic experiences. My grandmother was sold as a sex slave when she was 3 years old because her Mother was dirt poor and needed money to sustain her drug/alcohol addiction. At an early age my grandmother was forced into prostitution as a way of life and a means to sustain herself. She then later met my grandfather who was a minister in a local religious church and they married. My mother was born into a very religious environment, strict dress codes, no jewelry, makeup, pants, they were forcefully instructed that they were the lesser of men, and they were to always obey their husband regardless of the issue or circumstance. During my Mother’s adolescent years she was a victim of child molest and the perpetrator was an important figure in the church. When my Mother attempted to tell my grandmother what had happened, she was severely physically punished and accused of lying. Since then, she never once told a soul as it continued to occur. She had become a pin-cushion for a â€Å"religious leader† within the church. Later on in life, my Mother met my father who was a young youth pastor in town and they married. My father was also a very religious man and held strongly to his beliefs. My parents struggled financially and experienced many hardships due to church and family. I believe my parents were somewhat forced in marriage at such an early age due to their religious setting and they were not prepared at all for what faced them ahead. My mother had children by age 19 and her life changed dramatically. My one and only older sibling was born and he became the closest thing to a mentor that I had. I too, grew up in a very religious and strict home environment. We were taught that there was only one way to live and it was according to the Bible and the rules taught in Church, anything else was unacceptable and reprimanded. My father was always a very hard worker and was hardly home due to working so many jobs in order to provide for the family. When he was home, I remember him and my mother arguing constantly due to issues with his family interfering with their marriage and finances. From an early age, I remember my mother crying and coming to me to talk about what was bothering her or issues with my father. I would just listen and offer advice as best as an 8 yr. old could and I remember thinking to myself, â€Å"Is this normal, am I supposed to be doing this?It felt strange and hard to not be biased in a situation involving my family, but I learned at a very young age things a child should not know or experience. I definitely had to grow up quick and learned to figure things out on my own. My older brother pretty much raised me and was the only person I could confide in or talk to. My family was not very affectionate, but rather very cold and distant and always brought everything back to a religious setting. I have always been told I was very mature for my age and I attribute this to my childhood or lack thereof and being forced to play an adult role due to circumstance. I do not write this story for pity, but rather because I believe it played a significant role in me pursuing counseling as a career path. It feels so natural for me when I’m talking to people because it was something I can always remember doing. From such an early age, I have always been engaged with older people and hearing about issues from failed relationships to traumatic/crisis situations. I strongly believe that this is one of the reasons I am not a very judgmental person because I feel I have experienced so much that I know what it is like to go through many different situations and not so pleasant circumstances. Core Theoretical Principles My counseling theory is that even though human beings have the need for approval or longing of someone else to bring substantial meaning in their life, they are not by any means validated by any one person or situation because you focus on the present and future and make the most of your circumstance. I experienced that in my childhood every time I saw my mother and father arguing and later I would hear from her what exactly happened between them. I remember thinking to myself that why would someone stay in an abusive situation or at least not stand up for themselves. I concluded that she needed to be validated by the relationship and for her to leave the relationship or stand up for herself would mean to defy her husband, church, and God. The Existential theory really brought insight into my life because it helped me understand what I always knew and from what I had experienced at an early age. In essence Existentialism states that we are not victims of circumstance because, to a large extent, we are what we choose to be (Corey, 2009, pg. 133). It is about recognizing certain tragedies experienced in life, but also embracing and understanding the positive opportunities that lie ahead, and to also comprehend the fact that we are human and what it means to be just that. It is a difficult concept to grasp at first because society teaches us that it is about building relationships and finding someone to validate who you are as a person, but existentialism is about understanding and facing the fact that we are essentially alone and facing that anxiety. It is in this theory that we tend to discover just who we are as a person and are able to discover more about ourselves and make sense of our existence. According to Carl Rogers, his experience taught him that if one is able to get to the core of an individual, one finds a trustworthy, positive center. He believed that people are trustworthy, resourceful, capable of self-understanding and self-direction, able to make constructive changes, and able to live effective and productive lives. In this theory, I believe that despite circumstance, a person is able to â€Å"bounce back† and still be able to live a healthy and high functioning life. I would incorporate what Car Rogers expressed as the three main attributes needed to foster change, Congruence, Unconditional Positive Regard, and Accurate Empathic Understanding. For me, it has always been very important for me to deal with someone on a personal level, never forgetting that we are all humans and not above anyone else. I honestly believe that when you treat someone with respect regardless of age, gender, race, etc. then trust and respect is created and that is the number one element in any counseling relationship. Gestalt is another form of holistic psychology theory and one that I would strongly employ because I am a firm believer in perception and the meaning-making process. Gestalt therapy suggests that the objective is to enable the client to become more fully and creatively alive and to become free from the blocks and unfinished business that may diminish satisfaction, fulfillment, and growth, and to experiment with new ways of being (Corey, 2009, pg. 204). It looks at the bigger picture as a whole not just one part of the whole because I believe in order to truly understand someone you need to perhaps dissect pieces, but only in order to understand the whole. Anticipated Settings I currently am employed at a Child & Family Advocacy Center that helps victims of domestic violence, sexual assault, child abuse, and elder abuse. I have always been interested in the helping profession and because of my childhood and the many different experiences and circumstances I encountered, I have always known I wanted to work in this specific area in order to attempt to make a change and help people who fall victims of such a terrible circumstance. As a future counselor I would like to remain relatively in the same field of helping victims of a crime, which include sexual assault, child molest, and domestic violence. I have seen and experienced all of this personally whether with family or friends and I have a passion and urge to help make a difference. I believe that life is definitely not fair, people are played the cards they are dealt, but also that a person is not validated by their past circumstances or anyone and it is up to them to find meaning in their life and discover who they are and want to become. Techniques I believe that it is necessary to provide adequate education and training to all the community because there are many people who unaware of the laws that can protect them from crimes and they are also unaware of the many various options they have to change their situation. I would employ an ongoing community education program offering free training to local offices, schools, day cares, etc. , just to spread the word of the different community resources available to help the people. In working closely with and advocacy center, I would incorporate a domestic violence group that is not biased and one that actually helpful to people and does not enable them. Unfortunately, services in this area are limited to the same service providers and people are left with limited options. Too many times, clients have approached me with disappointment in therapist they have encountered and they are turned off by the idea of counseling because of several negative experiences. I am very passionate about this type of work specifically because of my past and I would like to genuinely be able to help people in these types of situations and therefore, would in the future, like to offer counseling services specifically to victims of domestic violence, sexual assault, and/or child abuse. I would not be biased, and because of my past I understand what it is like to live in that type of situation and I also understand leaving is not always the easiest decision a person can make because there are many factors to consider. People in these types of situations are very unique in the fact that they have learned to survive on their own and know what they need to do or to say the right thing in order to survive. This is not a situation where one counseling theory covers all clients, so I would tailor each to the specific person because I understand their situation is unique and requires a technique to match. Also, I believe that it is vital to establish a healthy relationship with the client in order for them to trust you and open up to you. I would incorporate many of the Rogerian techniques regarding the genuine relationship with the client, trusting environment. Victims of any of these types of crime have been through some of the most horrendous situations and they have learned to adapt to the perpetrators needs and threats. If a counselor walks into a session with an â€Å"all knowing† authoritative attitude it will discourage the victim from speaking the truth and the counselor will have lost, which may have been the only opportunity, to help the victim possible change their circumstance. I would enter into the counselor/client relationship giving respect and trust on my part and genuinely attempting to get to know the client and their unique situation. I would also involve the client every step of the way because it is this same client that returns to their situation at home and not me so I would always need to have their best interest and safety in mind. The clients would not just be another file on my desk, but rather a person who’s life can be altered by perhaps just one meeting in counseling so what better change to reach out and try and help someone. It is with this that I would definitely incorporate many of the existential techniques in helping clients find meaning in their life by exploring their different life situations. Limitations A very common limitation that I experience already in the line of work I do now is the fact that even though I am passionate about this field, the actuality of it is that I cannot change a person, they have to decide for themselves when that change is appropriate. Many times I have seen counselors burnout in this field because they feel they are not making any significant change due to many victims returning to the same abusive relationship or circumstance. So in theory, all of these techniques and theories are wonderful, but in reality they are dependent on the client. Summary Life is simple, it’s just not easy. People have to play the cards they are dealt. Life is not fair by any means and we could use this as an excuse to wallow in pity or use it to motivate us to overcome and conquer our situation. We are not validated by any one circumstance or person, we can choose to discover for ourselves who we are and who we wish to become. My personal counseling theory is just that, very personal because it was unknowingly developed over time due mostly through what I have experienced in life.

Ethical decisions and informed consent Essay

In all counseling programs meant for children and adolescents, it is very important that the parents be involved. The parents would require knowing the results of the psychological analysis, most probably in concern for the well being of their wards. However, in certain cases, the children or the adolescents might not intent the parents to know the details of their case. Like an adult patient, the child patient would want to ensure confidentiality of their case. However, it is also important to know that the child would not be in a position to make a proper decision regarding their treatment. Hence, it is very important to ensure that confidentiality exists to a limited extent in such cases. The counselors would have to protect the adolescent and the teenager regarding the individual case. They have to maintain strict confidentiality and should not inform anybody about the details of their case. However, the counselor would also have to inform the parent, as the parents are in the best position in making a valuable decision about their wards. The child or adolescent may be acting out of immaturity in these cases. It is also important to keep in mind that issues regarding the sexual activity of the child and the interventions required for the treatment of a sexually transmitted disease differs from one state to another. Certain issues such as abuse, neglect, presence of any risk or danger to others, etc, have to be reported to the parents. The counselor should be aware that the parents have rights of the children. Only the relevant information has to be disclosed to the parents so that they can make an informed decision for the welfare of their wards. The information presented should be accurate and comprehensive. In this case the parents would have to be informed if any case of neglect, abuse, harm to the child, etc is present. Treatment of a sexually transmitted disease may have to be reported in case the child may cause the risk of transmitting it to other people. The counselor should also try to determine if any danger is present for the 15-year-old client from any other party. If any such danger were present, the counselor would have to ensure that the child is adequately protected by informing the parents. In all cases, the counselor, to determine the need for informing the parents, should conduct a thorough assessment of the situation.

The Impact of E

The Impact of E Abstract Background: Traditional ways of doing business are changing. More efficient ways of doing business are coming up as a result of transformation in communication technologies. Advancement in information technologies has brought about the internet which is an efficient electronic tool of communication. With the internet, there has been the development of e-commerce which has totally transformed business.Advertising We will write a custom essay sample on The Impact of E-Commerce Technologies on Business Practices specifically for you for only $16.05 $11/page Learn More Aims: There are voluminous benefits of e-commerce with some few constraints. This paper looks into e-commerce: the rate at which it has been adopted in business, its benefits and challenges. Method: This paper looked into different aspects of e-commerce especially so in business organizations. Data about e-commerce, its adoption in business and how it is changing business was gathered fro m different sources more so the latest academic journals and books. From the data, findings and conclusions were derived. Results: From all the data and literature collected it was evident that e-commerce is the way to go in business because. E-commerce has revitalized and paced up the rate at which business transactions take place. A few challenges of adopting e-commerce were also identified in the literature. Conclusion: The findings in this research are important and can act as motivators for businesses which have not fully incorporated e-commerce business practices. The conclusion is drawn from literature and highlights the areas of importance. Major points are noted here. Introduction The world has witnessed major development in the communication technology sector. These developments have affected virtually all aspects of the society. The advancement in the communication technology witnessed the advent of the World Wide Web. A lot of developments have further been noted in the World Wide Web. All this can be described as a process or a journey that began in the early years of the 20th century. The web has been structured so that it could capture different needs in business. Traditional business was facing many challenges. One of the main challenges of early commerce is that it entirely depended on the manual transactions. These transactions were slower, inefficient and pegged on physical proximity of business people.Advertising Looking for essay on essay? Let's see if we can help you! Get your first paper with 15% OFF Learn More In the second half of the 20th century, the development of the internet and the worldwide web gained momentum. It pace of growth accelerated. Though many advanced business firms had already began using the internet or web services in transacting, it is at this time that many businesses began gaining the real sense of e-commerce in business enhancement (Ching and Ellis, 2004). Therefore, many firms began mak ing efforts to connect and export their businesses to the internet and the World Wide Web. Firms began realizing the benefits of the web service. However, this was met with various bottlenecks as it is common with new technologies. The benefits of e-commerce continued to take root in business as a significant number of people were absorbed into using the e-web services or the internet. E-commerce can be defined as a process through which products are bought and sold using the electronic data transmission services. These services are found on the internet and the worldwide web. There is a broad range of e-commerce activities. Among them is an online shopping, online retailing, e-selling and purchasing, e-procurement, e-travelling, online banking electronic payment of online services and online investment (Grandona and Pearson, 2004). As it is today, the use of the internet has spread world over with more than a billion people being active users of the internet. The internet has becom e a lifestyle for most people and even organizations. It would be unreasonable for any person to argue that the web has not revolutionized business as this is too obvious and evident in different business sectors. E-commerce is used in different kinds of business: both products-centered and service-oriented businesses. With the help of e-commerce technologies and services, business firms have been able to form and expand their customer bases. Customers can also easily access business products and services. Therefore, e-commerce has a positive impact in business. This is because it acts to promote business excellence and performance (McIvor, Humphreys and Huang, 2001). This paper thus assesses the level of e-commerce use within businesses and the benefits and setbacks associated with e-commerce implementation and use in business firms. Literature Review E-commerce activities There are different types of e-commerce services most of which aim at accelerating the pace of service deliver y and enhancing efficiency and effectiveness while delivering services. The first e-commerce service is the business-to-consumer (B2C). In such services, organizations seek to use e-technologies to reach their customers or consumers in a more expansive way. We also have business-to-business e-commerce services (B2B). This takes place in the transaction between different firms. B2B services are used in business development as organizations work with others to maximize on business functions. A firm may be working with another supplier organization or the industry from where it gets some of its supplies or where it takes supplies. The working between and among these organizations can be enhanced if the organization opts to adopt B2B services. This will only be effective when both organizations are using e-services.Advertising We will write a custom essay sample on The Impact of E-Commerce Technologies on Business Practices specifically for you for only $16.05 $11/page Learn More Consumer to consumer C2C is another e-service. This mostly happens in internet auctions and classified advertisements. C2C selling is common in a number of countries where buying and selling takes place on auctions sites with auctions being conducted by intermediary firms like e-Bay (Rainer Cegielski, 2011). Business-to-employee (B2E) services are used for enhancing the relationship between the organization and its workforce. The organization uses e-commerce to give information and provide services to the employees. Through E-services, employees are enabled to manage the benefits from the organization. Employees are also allowed to take classes electronically. The access and transacting of the business of the organization becomes easier due to easy access to information and other services. B2E is used in human resource management to improve employee-management relationships in the organization. It improves organizational delivery (Rainer Cegielski, 2011). Lastl y, there is the e-governance, which is the incorporation of e-commerce in public administration. Governments are continuing to adopt e-commerce strategies in public services. This is aimed at making the public service efficient and speeding up public transactions. When the delivery of public services is improved the business environment is greatly improved. The public service is the major determiner of the business atmosphere and environment in any given nation. They give supportive services to both public and private enterprises (Cui, Zhang, Zhang and Huang, 2006). Applying e-commerce in technical firms In the past two decades, there has been a change in the application of e-commerce in business. E-commerce application in firms has been shifting from its earlier focus on technology to focus on technology users. Therefore, e-commerce has become identified in communication and strategies as well as the general business practices. E-commerce helps in the exchange of information and ea ses the execution of business transactions between individuals and enterprises. E-commerce enables firms to adopt electronic communication practices in business processes via the Electronic Data Interchange. E-commerce has found a very soft ground especially in technology intensive industries like the Pharmaceutical industry.Advertising Looking for essay on essay? Let's see if we can help you! Get your first paper with 15% OFF Learn More Such industries utilize high levels of technology thus e-commerce services will easily blend with the practices in these industries boosting the rate of transactions. For firms in these industries to perform well and sustain their growth, as well as gain competitive advantage over other firms, they must adapt and implement innovative technologies. E-commerce is one of these required technologies as it gives firms in the industry an enhanced mode of transacting. E-commerce has far-reaching positive effects when applied on a business-to-business basis. An example is when different enterprises within the industry converges with the aim of consulting on processes and crafting key decisions on products such as clinical development and test of drugs, marketing and sales, people management and drug innovation among others. E-commerce is synchronized with the corporate strategies of firms which bring significant value in firms and the industry at large. The value created has positive implic ation on both products and processes in the firms (Kanungo, 2004). Factors influencing e-commerce adoption in different regions Zhu Thatcher (2010) observed that the rate of use of e-commerce differs in different regions and different countries of the world because of the varied features inherent in these countries or regions. Different countries have different levels of technological infrastructure, which affect the adoption of e-commerce. Research has ascertained that e-commerce adoption has three main perspectives which determine its application in business. These are environmental, firm and technology perspectives. Under the environmental perspective, there are three main areas of focus. These are the economic, institutional and the social cultural environment. All the three environments have forces which affect e-commerce adoption, implementation and enforcement. On the other hand, the firm perspective has its forces that include the corporate strategy of the firm, managerial attitudes, globalization and external pressures. There is also the technological perspective which entails the macro technology environment and the technical strengths of the firm applying the technology. Further research showed that these perspectives affect different organizations differently. An organization may have a full grasp of one perspective and yet lack the others. This will still hinder the firm in developing e-commerce practices. The three perspectives are interactive thence a lapse or weakness in any end up influencing the entire process of ecommerce adoption (Li Xie, 2012). Studies that were conducted in Singapore in the year 2003 showed that Singapore was well prepared as far as the development and use of e-commerce technologies was concerned. Singapore was noted as having certain and unique features such as efficient telecommunication and transport infrastructure, transparent financial and legal structures, and a very affluent population that has well-articulated m ulticultural links. The population uses the English language as a common language in communication (Li Xie, 2012). The table below is a summary of research which was conducted by different scholars in different times and regions to ascertain factors which influence the adoption of e-commerce. Author and year Scope of analysis Influencing factors RodrÄ ±Ã‚ ´guez-Ardura and Meseguer-Artola (2010) Spain Non-technological external factors Technological external factors Non-technological internal factors Technological internal factors Shih (2008) Taiwan Pressure from customers, suppliers and competitors Kshetri (2007) Developing countries Economic factors Sociopolitical factors Cognitive factors Ho et al. (2007) 17 European countries Internet penetration Telecommunication investment intensity Education level Regional contagion Hong and Zhu (2006) America and Canada Technology innovation Web spending Web functionalities Partner use Molla and Licker (2005) South Africa Per ceived organizational e-readiness Perceived environmental e-readiness Brousseau (2003) France Early adoption of Minitel and EDI Macroeconomic climate Distribution channels Wong (2003) Singapore Demographic structure Physical infrastructure Human resources Financial and legal institutions E-commerce policy initiatives Figure 1.0 factors influencing e-commerce adoption. Source: (Li Xie, 2012). From the data in the table it is noted that different regions and countries are affected by different factors. The level of development is a major boosting factor for e-commerce adoption. Application of e-commerce using appropriate models According to Lee and Kim (2007), the use of e-commerce by business firms is considered to be of a big advantage. It is seen as one way through which business organizations can remain competitive thence relevant in the prevailing business environment. Just like it would be for any venture, there are considerations that have to be adhered to prior to the initiation of e-commerce in business. There are different models, which can be followed in initiating e-commerce by firms. Most of the models of e-commerce application show that e-commerce is beneficial to business organizations. Research has shown that most e-commerce initiatives in the business end up either failing or not achieving full results. Also, these initiatives exploit all the potential due to poor or mal-planning that goes into the initiative. Different models of e-commerce have been developed due to this fact. This could bear enhanced results if they are used by organizations prior to the acquisition and implementation of e-commerce. Most models of e-commerce ignore the planning aspect. Therefore, it will be beneficial if firms in their prior stages of e-commerce adoption focus on e-commerce planning models. These will give a good background for the organization eliminating gaps that are often inherent in the implementation phase (Kao and Decou, 2003). Benefits of e-com merce in supply chain management Firms across the world are being forced to reinvent the relations with their customers and suppliers by way of adding value to the relations at a minimized cost. This is due to the demands of the economy. Therefore, research shows that many firms are adopting integrated global business models which end up further complicating their supply chains (Mora-Monge, 2010). Therefore, companies are embracing information technology to help them in minimizing the impact of the complicated supply chains. They help in optimizing supply chains. Companies use B2B e-commerce transactions as evidenced in recent research (Crespo and Bosque, 2008). E-commerce has a profound effect on supply chain. E-commerce has been found to pace up the rate of performance of many supply chains across different firms. This is evident in the findings of an empirical study by Hong, Tran, and Park (2010) titled â€Å"Electronic commerce applications for supply chain integration and comp etitive capabilities’. This research has its foundation in the resource based view theory. A model was developed by the authors and then tested using a total of 711 sample companies (IMSS IV). These firms were located in 20 different countries across the globe. The results showed the importance of two specific electronic technologies – Internet based communication and technologies and EDI for integrating supplier and consumer functions. The results revealed that supplier and customer chains can be enhanced by using selected forms of information and communication technologies in business (Hong, Tran and Park, 2010). E-commerce is quite beneficial to buyer seller relationships. It speeds up buyer-sellers transactions through what is called comparison shopping. Customers are able to compare prices of a big range of commodities quickly. These commodities are found on sales and advertising sites. Such sites are synonymous with certain industries for instance the automobile, air travel and insurance. E-commerce also cuts down the cost of business and raises competitiveness. The consumers will get to enjoy the services being provides on sites by firms competing. They are likely to get products at reduced prices. For the business firms, they will only undergo the initial cost of establishing internet and other e-commerce enablement tools. One this is established, the firms will experience reduced costs of the transactions that they make (Rob and Coronel, 2009). Benefits of e-procurement Quesada, Gonzalez, Muller and Muller conducted a research in the year 2010 titled Impact of e-procurement on procurement practices and performance. They wanted to establish the correlation between the usage of e- procurement technology, practices and their effect on procurement performance. They used a model which was derived from other researches. The model was tested using 368 procurement specialists as a sample. All the specialists came from the United States. The find ings of this research indicated that procurement practices and e-procurement technology had a positive effect when applied in business firms. The findings also showed that there was a high rate of adoption of e-procurement services in business for a majority of the companies that were surveyed. This suggests that a significant number of companies should buy into the usage of e-procurement technologies. This is a good way of improving the collection of information, contacting suppliers and conducting intelligence and analysis exercises (Quesada, Gonzlez, Mueller and Mueller, 2010). The support for e-commerce E-commerce can be applied in both large firms or even in the Small and Medium Enterprises. SMEs can maximize the potential of their firms when they opt to use e-commerce. E-commerce can lead to the reduction in business coats for small businesses. These costs include the establishment of offices and other operational costs. Notably, the cost incurred in establishing a single stor e is almost similar to that of setting up a fully functional e-commerce web for a small business. However, e-commerce has more benefits when compared to the storefront. E-commerce will help the business to reach a significant number of customers. This is the main aim of any business venture. Once a substantial number of customers are reached, the business will be able to attain increased sales. The new customers will be likely to demand goods and services of the company once they are reached and are able to learn about the products of the company. The firm becomes more open to opportunities for instance up-selling and cross-selling (Thanasankit, 2002). The other aspect which makes e-commerce to be more relevant and important in business is convenience. Online services are always available and can be accessed by the online shoppers at any time. These services can also be accessed from any place by the shoppers. Therefore, business remains active all the time (Rob and Coronel, 2009). Business to business procurement services yields about 5 trillion US dollars each year. This was as at 2000. This is the total figure globally. This has been growing with time. An estimation made by the Boston consulting group showed that, in the US, business conducted transactions worth about $2 trillion in the business-to-business purchase. These transactions were done using the internet. They were transacted as at the end of the year 2003. Business-to-business transactions are increasing with the explosion of internet usage and the growth of e-commerce. While business-to-business transactions have a positive impact on the growth of business, a lot of focus has only been paid to the large firms that are conducting such transactions. Small firms also conduct such transactions but they end up being left out in the overall statistics (Mullane, Peters and Bullington, 2001). Schlenker and Crocker (2003) found out that there are real benefits of applying e-commerce in small businesses. There is a major problem that has prevented the application of e-commerce in small business firms. This is because the staffs of these firms have a notion that e-services are expensive. They are thus reluctant releasing resources which would help in applying such services in the firms. These services have to be supported by the senior staffs that are well aware of the benefits of reducing business costs by way of embracing e-commerce (Caskey and Subirana, 2007). Conclusion Literature has revealed that e-commerce is a quite old phenomenon. However, its comprehensive or wide usage is a recent phenomenon. E-commerce gained prominence from the late 20th century when there was a revolution in the use of the internet and the worldwide web as a result of the revolution in information and communication technologies. E-commerce has gained roots in business especially so from the beginning of the 20th century. E-commerce has become one of the fashions of doing business. Many business firms ha ve either adopted online services or are working on modalities of exporting their businesses to the web and the internet. E-commerce involves either the use of the internet or the worldwide web services by organizations. There are different activities that are related to e-commerce. These include online shopping, online banking, e-selling and purchasing, online retailing, e-procurement, e-travelling, electronic payment of online services and online investment among others. Business and other non-profit motive organizations are adopting e-commerce initiatives at a very high rate. This, as argued by many researchers, is a reflector of the benefits that accrue to e-commerce. The general notion is that e-commerce is turning out to be a very influential tool in enhancing business performance. Even the non-profit organizations are of the view that e-commerce will enhance service delivery in their activities. In this case, performance will be enhanced and is rated basing on how efficient a nd effective they are in delivering services. Literature reveals that there is a difference in the rate at which organizations are adopting e-commerce strategies. Notably, big organizations are the major adaptors of e-commerce. Small and medium enterprises are buying into e-commerce at a very slow rate. This means that there are challenges of acquiring, implementing and enforcing e-commerce especially for SMEs. SMEs often have a low capital on which they operate. Adopting e-commerce needs quite a substantial capital which goes into the installation of internet. However, this is just a fear as research has revealed that the cost of installing online services is affordable. Moreover, the benefits of adopting e-commerce will exceed the cost of installing e-commerce enablers by far. As it is now, more advanced countries are more favored in conducting e-commerce because of advanced technological, legal, organizational and developmental structures. For organizations that are already using e-services, there are a lot of benefits being ripped. These includes improvement delivery of services to customers – supply chain efficiency, increased efficiency in procurement- e-procurement, increased number of customers – online marketing, improved service delivery in banks among many others. However, literature has also revealed that there are major barriers and challenges which come with e-commerce. A good example is a security risk resulting from cyber terrorism, technical problems and policy problems related to adopting e-commerce. However, when proper prior planning is done before adopting e-commerce both small and big organizations will make substantive gains. Therefore, it can be concluded that the adoption of e-commerce is beneficial in many aspects despite a few hitches. In this respect, organizations should be encouraged to adopt e-commerce in order to maximize on their potentials. References Caskey, K. and Subirana, B. (2007). Supporting SME e-commerce migration through blended e-learning, Journal of Small Business and Enterprise Development, Vol. 14(4), pp.670 – 688. Ching, H.L. and Ellis, P. (2004). â€Å"Marketing in cyberspace: what factors drive e-commerce adoption?† Journal of Marketing Management, Vol. 20 (3), pp. 409-29. Crespo, A.H. and Bosque, I.R. (2008). â€Å"The effect of innovativeness on the adoption of B2C E-commerce: a model based on the theory of planned behavior†, Computers in Human Behavior, Vol. 24(6), pp. 2830-47. Cui, L., Zhang, C., Zhang, C and Huang, L. (2006). â€Å"Exploring e-government impact on Shanghai firms’ informatization process†, Electronic Markets, Vol. 16(4), pp. 312-28. Grandona, E.E. and Pearson, J.M. (2004). â€Å"Electronic commerce adoption: an empirical study of small and medium US businesses†, Information Management, Vol. 42(1), pp. 197-216. Hong, P., Tran, O. and Park, K. (2010). Electronic commerce applications for supply chain integration a nd competitive capabilities: An empirical study, Benchmarking, Vol. 17(4), pp.539 – 560. Kanungo, R. P. (2004). â€Å"E-commerce in the pharmaceutical industry: threshold of innovation†, Management Research News, Vol. 27(8). Kao, D and Decou, J. (2003). A strategy-based model for e-commerce planning, Industrial Management Data Systems, Vol. 103(4), pp.238 – 252. Lee, S. and Kim, K.J. (2007). â€Å"Factors affecting the implementation success of internet-based information systems†, Computers in Human Behavior, Vol. 23(4), pp. 1853-80. Li, P and Xie, W. (2012), A strategic framework for determining e-commerce adoption, Journal of Technology Management in China, Vol. 7(1), pp. 22 – 35. McIvor, R., Humphreys, P. and Huang, G. (2001). Electronic commerce: re-engineering the buyer-supplier interface Measuring Business Excellence, Vol. 5(2), pp 39-44. Mora-Monge, C. A. (2010). The impact of electronic commerce on the supply chain, Benchmarking, Vol. 17(4 ), pp 539-560. Mullane, J. V., Peters, M. H and Bullington, K. E. (2001). Entrepreneurial firms as suppliers in business-to-business e-commerce, Management Decision, Vol. 39(5), pp.388 – 393. Quesada, G., Gonzlez, M. E., Mueller, J and Mueller, R. (2010), Impact of e-procurement on procurement practices and performance, Benchmarking, Vol. 17(4), pp.516 – 538. Rainer, R. K. and Cegielski, C. G. (2011). Introduction to information systems. Hoboken, N.J: J. Wiley Sons. Rob, P. and Coronel, C. (2009). Database systems: Design, implementation, and management. Boston, Mass: Course Technology. Schlenker, L. and Crocker, N. (2003). Building an e-business scenario for small business, Qualitative Market Research: An International Journal, Vol. 6 No.1, pp.7-17. Thanasankit, T. (2002). E-commerce and cultural values. Hershey, Pa: Idea Group Publishing. Zhu, L. and Thatcher, S.M.B. (2010), National information ecology: a new institutional economics perspective on global e-commerce adoption, Journal of Electronic Commerce Research, Vol. 11(1), pp.53-71. Appendix A: Member responsibility matrix This assignment was done by five people namely x1, x2, x3, x4 and x5. All the group members converged and discussed the topic together in order to get a deeper understanding of the topic of research. After a discussion and understanding of the research topic we planned on how we were to conduct the research by assigning each group member a task which was to be completed by the member and presented for discussion and approval by the group. We assigned ourselves tasks basing on the topic which we thought were important for our research. Therefore, the topics were assigned to each member as in the table below: Group member Responsibility X1 Was given the task of collecting information different kinds of e-commerce activities and how they influence business. X2 Was handed the task of finding literature on how e-commerce affects or changes the manner in which business es operate. The member was to focus on a specific industry – pharmaceutical industry. X3 Was bestowed with the task of getting literature on the factors which affect e-commerce in different regions of the world. The member came up with the data based on different researches that were done in different regions. X4 Was to find research based information on at least two different kinds of e-commerce activities – e-marketing and e-procurement. The member was to justify the research and findings in order to ascertain whether such e-commerce activities were beneficial. X5 Was to get general literature on e-commerce both in large organizations and in small and medium enterprises. The member was to focus on the benefits and challenges of e-commerce for each of the business organizations.

Should Canada Have An Abortion Law

Should Canada Have An Abortion Law Canada is among the few countries in the west that has no law governing abortion. The implication is that it is not yet clear whether abortion is an illegal or a legal act according to the Canadian constitution and criminal code. In other words, Canada remains as the only state in the developed world where there is no law which regulates abortion.Advertising We will write a custom research paper sample on Should Canada Have An Abortion Law? specifically for you for only $16.05 $11/page Learn More The conservative government handling this contentious issue can be seen as one dealt with utmost cowardice (Herald 2008). Despite the lack of a clear abortion law, abortion in Canada is relatively low in comparison with other nations that have adopted abortion laws (Arthur 2008). Furthermore, the rates of abortion have been decreasing since 1999 although one can be sentenced if found to have committed the act (Arthur 2008). This begs the question, should Canada have an abortion law? The research paper is an attempt to determine whether an abortion law is required in Canada, or not. The major reason why abortion laws are enacted is to limit the number of procured abortions. According to Arthur (2008), abortions can be reduced either through liberalization or repealing anti abortion laws. In other cases, it is used to promote feminism or female rights to have a choice to decide whether they can have a child or they can terminate the pregnancy. In the case of Canada, this has not been clearly stated under the current law since abortion law that existed previously was deemed by the Supreme Court as unconstitutional in 1988. However, abortion is still carried out under certain circumstances such as when sex selection is being conducted or when the life of the mother is in grave danger (Clarke 2009). In Canada, sex selection is not prohibited but it becomes illegal when reproductive technology is applied. Compared with other developed nations like t he U. S there is need to at least have an abortion law that defines the extremes under which it can be carried. In most of the developed states, abortion laws have been enhanced to cater for the public health reasons since no matter the presence of law or risks involved, women cannot be stopped from carrying out abortions.Advertising Looking for research paper on health law? Let's see if we can help you! Get your first paper with 15% OFF Learn More Illegal abortions kill both the unborn baby and even the mothers. Despite the campaigns by anti-abortion movements, the fact remains that women die because of illegal abortion and there is need to help reduce the number through offer of better medical services. When compared to other countries in Europe which have abortion laws, the rate is almost the same. For instance, Europe has an abortion rate of 12% compared to Canada which has a rate of 14.1% annually (Arthur 2009). The comparison between the two countries o ne with abortion law and another without is more or less the same. Contrasted to US, Canada is by far well since it has the lowest levels of abortion. Like any other government in the world, the Canadian government has the obligation to protect anything that has intrinsic value. Despite the fact that the Supreme Court ruled that a fetus lacks legal status compared to a person and as a result it lacks intrinsic rights, the court did not clear out whether a fetus lacks any intrinsic value like any other human being (Ben-Ami 4). In this line of thought, it can be argued that there is the need to protect a fetus since it has an intrinsic value like any other human being. From a scientific point of view, a baby that is a few hours to be born and one that has already been born have no cognitive or biological differences hence all need protection from the state. This can only be realized through a law which may either be prohibitive or allows abortion as well. A major scientific fact is th at life the life of a human being starts at conception and there is no doubt about that (4). Rather than questioning the morality of the same or arguing when the life begins, a focus should be on whether the unborn child has any value or has the right to live. From a moral point of view, the society or the state has the duty to provide protection. The life of a fetus is of public interest and under the auspices of the Criminal Code; the Parliament is compelled to offer protection to that which is of public interest. Just like Sweden, abortions under the physician’s watch in Canada are carried in the first trimester of the pregnancy (Ben-Ami 4). In addition, after every twenty weeks, 0.4% of all abortions take place.Advertising We will write a custom research paper sample on Should Canada Have An Abortion Law? specifically for you for only $16.05 $11/page Learn More This seems like a small figure but supposing that 100,000 abortions were carried annua lly, 400 potentially viable babies would be aborted. This is an indication that despite the silence by the state to have an abortion law, abortion is still practiced under the medical circumstances despite the lack of abortion laws. According to Ben-Ami (1), a Quebec woman was sentenced 18 months because she had left a newborn baby in the woods to die. She was sentenced on a lesser charge of manslaughter instead of first degree murder since there was no evidence that she had the intention to kill the baby. Given that the mother carried abortion of the same child in hospital even during delivery, she would be acquitted and not prosecuted. In another scenario, if the doctor or physicians killed the new born under unclear circumstances, the medical practice license would be provoked and the doctor would go free. All three situations are all comparable since a child was to be killed. Therefore, an abortion law would be necessary to put limit on the extent into or circumstances under whi ch abortion should be carried or allowed. This would ensure that all people are treated the same even if they are medical practitioners or mothers. Compared with France, abortion in both states is carried to safeguard the life of the mother in case it is proven to be in danger. However, in France abortion law has been put into place unlike in Canada where no multi-disciplinary is required to certify that the condition of the mother is in danger and that an abortion would be necessary. It would be ethical if a law dictated the medical conditions under which abortion should be carried instead of leaving the law in the arms of independent doctor or physician to solely decide. Any liberal democracy in the world except Canada protects the lives of the unborn. Despite the fact that laws differ from one state to another, protection of the lives of others even if born or unborn is a universal obligation which should not question the morality of the act. Whichever the side one decides to tak e regarding the issue of abortion, the fact remains that abortion is still carried out in Canada. There still remains the need to continue with the debate and draw from the examples of some of the developed countries so as to enact abortion laws which specifies time in which abortion could be carried (Herald 1).Advertising Looking for research paper on health law? Let's see if we can help you! Get your first paper with 15% OFF Learn More This would strike a balance between both sides or between the rights and the interests of Canadians which is inclusive of the unborn babies. The absence of a coherent national policy on abortion leads to consequences which have effects on people in Canada. Arthur, Joyce. Canada Does Not Need an Abortion Law. 2008. Web. Ben-Ami, Joseph 2008, Why Canada Needs an Abortion Policy. Web. Clarke, Stephen. Sex Selection Abortion: Canada. 2009. Web. Herald, Calgary. Killing Abortion Debate Unhealthy. 2008. Web.