TBD BY WRITER

 

 

 

Name

Professor

Institution

Course

Date

 

 

 

 

 

 

 

 

 

MEMORANDUM

 

From:  TBD by writer

To: John Smith, Secretary of Labor

Subject: Outcomes of Partnership in a Contract

Date:

 

Summary

Indianapolis city and Atlanta had a common water challenge. They formed a partnership to sign a contact with multi-national for-profit corporation so that the corporation could provide access to treated water to these cities. Indianapolis was a stable area in terms of the economy and as a result, it was able to finance the capital, and resources required to facilitate effective production and supply of treated water compared to Atlanta. However, they had signed a partnership agreement on terms of contribution to the project, but Atlanta was unable to offer what its requirements due to poor planning and water privatization. The savings made by Atlanta towards the project were relatively low, and it was unable to renew the contract which expired after five years leading to its withdrawal from the contract.

 

Background

 

The two companies had a common goal of ensuring there was no water shortage in their cities by ensuring there was no water wastage. To achieve this, the cities formed a partnership to incorporate a multi-national for-profit corporation that aided in treatment of water. This ensured that waste water in the cities was recycled and used by the associates of the two cities. Since they had universal interest, the mayors of the two cities shared the responsibilities equally to accomplish the mission they had. The contracting corporation offered services according to the contributions of the two cities regardless of their partnership state. However, the city of Atlanta did not have adequate customer service, and this might have been the cause of its withdrawal as a result of unexpected outcomes from the contract.

The project of water treatment in these cities had competitive management. To achieve the mutual goal of these cities, they involved qualified personnel and individuals who had adequate knowledge and skills pertaining water conservation and management. Staffing involves manning of the structure of association through appropriate and effective collection and development of the workforce to efficiently accomplish their roles. The staffing of the Indianapolis city was well organized with all employees acting their part as expected by the managers. The roles of the manager in this city, the mayor, was participating in developing solicitation, and monitoring the progress of the project. He also ensured that the state property used in contract performance was well maintained. He kept the contract records, assigned responsibilities to employees and monitored their activities.

The manpower in this city was high rated with that of Atlanta city.

There was poor management in Atlanta city and their contribution towards the project was low. It had management did not play it roles like planning and supervising of the activities running in the project effectively.

To be able to engage in the contract that they signed with the contacting corporation, the two cities had to come to a consensus on their contributions. Indianapolis, under Mayor Stephan, contributed capital guaranteed to it to finance the contract. Atlanta agreed to raise the resources and some capital needed in making the project a success. This affected the contracting partnership since Atlanta was unable to continuously raise the required resources, and capital required to renew the contract and this led to unexpected negative outcomes that consequently facilitated to its withdrawal from the contract.

The stakeholders in the contract worked for personal interest instead of managing the project to achieve a mutual goal that would benefit the two cities equally. They had divided minds, and this contributed to the withdrawal of the Atlanta from the contract since the outcomes did not meet the expectation of the members involved. For best performance, it required that the stakeholders work in harmony and unity in managing the project. They should have same objectives when planning and making decisions for the contract.

The two cities had signed the partnership agreement forms that had regulations and rules governing the partnership. Since the cities had held a contract with the multi-national corporation for water treatment, the principles governing the cities prevented any of them from withdrawing from the contract. The documents filled gave guidelines of the expected contributions of each city and outlined the output benefits that these cities could accrue from the contract. However, there were customer complains due to the inadequacy of customer services as a result of unavailability of the required input from the Atlanta city, the city had to pull out of the contract.

The two cities had municipalities had subjected themselves to high risk of signing the contract with the multi-national for-profit corporation since the initial capital required for services to be rendered was relatively high. For example in Indianapolis city, the mayor Stephan goldsmith exerted a lot of pressure for implementation of that project. It was through his knowledge and skills on activity-based cost and assets management that he was able to join the partnership with Atlanta. There was uncertainty of the outcome since it was the first trial to these cities to engage in such contracts. After some years, one of the cities had to step down due to low outcomes.  The city had taken the risk with unpredictable benefits and this led to great loss to the municipality.

However, risks must be undertaken for prosperity in any project.

The managers, mayors, of the two cities did not work with trust and confidentiality in running the project. This contributed to poor planning, supervising and setting of unrealistic objectives that consequently led to poor performance to one of the cities. There was poor customer relation and services offered to them were of low quality since these was no consistent flow of water to the two cities. It was the responsibility of the two mayors to ensure that the employees worked in unity to achieve the mutual goal of the partnership and the contractor.

 

 

References

Blank, R. (2004). The Responsible Contract Manager. When Contracting Really Doesn’t Work: Atlanta’s Water Contract. Pages 187-200.

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MEMORANDUM

From: To: Mayor Michael Bloomberg Subject: Policy Innovations in the New York City workforce management Date: June 8th, 2011 Summary Innovations are an important part of development. The purpose of this memo is mainly a call to action on various issues that cover application of innovative policies and their respective challenges in modern New York City. This letter sheds more light on successes and hindrances that the public sector faces in policy development and enforcement in areas of workforce economic development in the city. These include the role of political will in development, the input of public-private partnerships in achieving goals and the extent to which availability of funds- or lack of it- affects realization of the city’s visions for workforce oriented innovations. Funds are an important factor in realizing innovative goals and the federal government should play a key part in provision of the same for innovation programs. Background Innovation can only be achieved through continuous favorable managerial practices. The integration of the Workforce1 Centers with Business Solution Centers was a good initiative to lend the workforce policy makers with a much needed managerial perspective. The Workforce1 Centers were able to meet increased demand by having an association with the Account Management Team. The AMT plays an important role in backing up the Workforce1 Centers. Political will plays a big part in driving the economy. The small businesses that are covered by the Business Solution Centers are practically dependent on political will. Tax incentives to the hot dog vendor and lenient licensing policies for the small barber shop will go a long way in developing the workforce morale for business initiatives and innovations. Big city employers should also be motivated to produce innovative work programs by offering them tax breaks in return for their contribution to innovative services to the city workforce. The government on its own cannot accomplish the city’s goals. The private sector input is important for realization of these goals. Collaboration between the private and public sectors is beneficial in many ways. The private companies in New York play a big role in research initiatives which can be used by the government to analyze and implement policies. The private sector also employs much of the city’s workforce. On the other hand, the government should provide a good political environment for the activities of the private sector for development purpose. Incentives for research on innovative services by the private sector should be provided by the government, e.g. tax breaks for companies with the best employee performance and satisfaction rates. These will go a long way in ensuring the workforce overall performance is merely not quantity related, but quality related. Funding the innovative practices is no mean feat. Catering to the large quantity of unemployed and unsatisfied workers, in terms of training and awareness, requires a great deal of financial will by all stakeholders. The task will be to convince the federal government that these programs initiated by the City are not merely social, but also have an economic impact in order to increase the federal government’s financial input. It will also be imperative for the City’s public officials to court private philanthropists to fund some of these programs.

Self assessment essay

Name:

Course:

Instructor:

Date:

 


            It has been a long journey for me to be able to write an essay effectively. On the clarity of explanation, I was very poor from the first essay where I was not able to bring out my points on my life experience. Even when I had the idea in mind, my grammar was so poor and even though I was repetitive in an attempt to drive my point home, the lecturer always awarded me low grades. There was direct translation in my first essay and this was evident in my first three essays (Lester 23).

On trying relevance, I always found myself deviating from the matter at hand in my essays. In my first essay the first paragraph had a lot of irrelevant information as I tried to expound on how and why different experiences occur to people. However, by my third essay, I was able to stay relevant as evidenced by the review I wrote on an article. On the final essay that I submitted especially, I tried to use the skills I had learnt to write an all inclusive essay while still trying to stay relevant.

Legibility is another assessment criteria I have developed to enable me meet my assessment criteria. In my first essay, I was not even able to come up with a title that was more specific for to the topic. The title page for my work had numerous errors and the fact that I was so repetitive did not help matters either. The problem persisted and by my third essay I was able submit correctly formatted work.

On originality, I was not creative enough and my description was devoid of interesting facts particularly in my first essay where I could not come with an interesting narration of what I used to go through. My explanations were shallow but by my fourth essay, I believe I can submit an article that is fascinating while still staying relevant (Lester 23).

One particular area that I really struggled with was formatting my essays in the required standards. In my first essay, I could not even write the correct draft number for my work. It was error prone whereby I couldn’t indent it as per the English 12 guidelines. The paragraphing of my work was very poor and I found myself leaving hanging lines between paragraphs. By my second essay, I hadn’t improved much and I forgot to provide a title for my work. However I hadn’t learnt how to paragraph my work correctly and I was able to indent the first word of every paragraph. After much practice and consultation, I perfected the skill and my third essay was correctly formatted (Lester 23).

Grammar was another stumbling block for me. I submitted my work in loosely connected words. I even went as far as letting out my frustration on the essay on how I found it hard to communicate in English. With a lot of exposure and patience, I practiced by writing numerous essays and the lecturer always guided me on the correct use of words. To eliminate direct translation, I had to learn how not to think and bring out my ideas in my native language. I didn’t have many problems in this area as evidenced by my third essay where I tried to bring out my points having taken command of the language. I tried to let the ideas flow in my work without trying too much. However I learnt how to fragment my work into shorter sentences after writing the third essay.

Citing my work correctly has been an uphill task for me. While writing my second essay I did not cite the sources of my work despite the fact that it was a research paper. Therefore, my professor could not award me quality grades because the sources of my information could not be authenticated. By the time of submitting my fourth essay, I had not understood the concepts of citing and quoting the author of my research paper. The main problem I was experiencing in this area was due to the fact that studied the writing manual correctly to understand the concept but I had only used it for class assignments.

With a lot of self discipline, I learnt how to format the works cited page although I had not yet mastered the art of formatting it correctly. In my fourth essay for instance, I italicized the type materials used for the work instead of the title. However, I have mastered my writing skills and in my final essay, I tried to format it as per the writing guide. I was quick to learn how to write my work using the correct font. By the time I was writing my first essay I was not familiar with the fact Times New Roman was the correct body for my work. My work was unevenly spaced and with a large font. However, I practiced hard enough and handed my second and subsequent essays in the right formats (Lester 23).

 

 

 

 

Work Cited

Lester, James. Writing Research Papers (9th edition).New York: Longmann Publishers, 2009.

Management Memorandum

Running Head: Management Memorandum

 

 

 

 

 

[Your Name]

[Instructor’s Name]

Management Memorandum

 

 

 

 

 

 

 

 

 

 

 

 

 

From: Your name, a student representative of New York’s public opinion

To: Mayor Michael Bloomberg

Subject: Evaluation of New York City Stat Stimulus Tracker

Date: 31 May, 2011

Summary: New York City (NYC) Stat Stimulus Tracker meets the objectives of the American Recovery and Reinvestment Act of 2009 (ARPA), directed to the social welfare provisions: it is an innovative management tool that in fact stimulates the city’s economy. However, it is not an ideal type of performance management that helps the USA to overcome the current complicated period of economic recession. Improve this tool, taking into account the principles of total quality management. Expand the opportunities of this tool, making it demonstrate more detailed information concerning ARPA funding allocations, additional data about the other states and other performance indicators (for example, concerning saved budget money) future prognosis, public opinion (through expression of category representative’s opinion),etc.

Background: NYC Stat Stimulus Tracker is quite an effective tool that helps to measure the performance indicators of recovery funds, allocated to NYC stimulus projects. It shows current and displaced stimulus funding, stimulus amount expanded, and actual full time equivalent jobs retained or created through stimulus funding. This performance management tool works successfully, as it transparently provides comprehensive and reliable information to New Yorkers concerning the government investment into eight funding categories.

NYC Stat Stimulus Tracker demonstrates domestic spending in the eight major categories for NYC: from infrastructure to medical relief. However, these funding categories are too broad, and they demand better grouping. Make them more detailed, and include subcategories (for example, education category should comprise academy, university, school, etc. subcategories with corresponding indicators of investment and spending).

The measures for each group and funding stream seem logical and produce the real result of accountability and measurement of ARPA outcomes. The measures are rather transparent and accountable, than desired. Try to meet the ultimate objectives of ARPA, and improve the funding stream performance indicators.

NYC Stat Stimulus Tracker should provide other useful comparisons and insight for individual agency and funding stream performance. Expand the opportunities of this tool by providing information about government investments into funding categories of other US states: it will allow a New Yorker to compare the performance indicators among the US states, and identify the problem peculiar to New York. Make this tool more public-oriented, not government-oriented: the representatives of these categories need an opportunity to express their opinions about the most problematic areas.

NYC Stat Stimulus Tracker is a useful tool for coordinated City outcomes; nevertheless, it needs to be improved. The public should be aware of the real allocation and distribution of ARPA funds, and see the progress, made by the government in relation to the mentioned categories. Provide this tool with specialists’ prognosis concerning the future governmental expenditures and domestic public spending: it will give all New Yorkers an opportunity to concentrate on the problem solution.

On the whole, NYC Stat Stimulus Tracker process holds up to the criteria discussed in the relevant literature about management and the governmental politics in relation to budget, costs and investments; however, the researchers’ works may provide with additional criteria that should be implemented in this tool. Elaborate more influential and efficient strategy through this tool: adapt it to the principles of total quality management (including information about NYC budgeting, human resource, information management, reengineering and privatization) (Cohen & Eimicke, 1998). Reflect thrifty government through presentation of indicators; show how much money the government has managed to save for the social benefit (Osborne & Hutchinson, 2004).

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

References

Cohen, S., & Eimicke, W. (1998). Tools for Innovators: Creative Strategies for Strengthening Public Sector Organizations. San Francisco, CA: Jossey-Bass.

NYC Stat Stimulus Tracker. (2011). Official Web-site. Retrieved 30 May, 2011, from http://www.nyc.gov/html/ops/nycstim/html/home/home.shtml

Osborne, D., & Hutchinson, P. (2004). The Price of Government; Getting the Results We Need in an Age of Permanent Fiscal Crisis. New York, NY: Basic Books.

 

Vampire Social Fear

Vampire Social Fear

Author

Institutional affiliation

 

 

 

Vampire Social Fear

Vampires became a part of conversations from years ago up to the present time. This was further intensified by the release of TV shows, films and movies that represent vampires, whether in the form of a good or bad person. For instance, the Twilight series

A vampire is a human which is characterized in other level of humanity. Some are victims of vampirism and some are share their stories about vampire experiences. At present, society remains fearful about vampires for certain reasons. Several stories, movies and experiences include in this paper for the sake of the readers.

In some cases, most children fear vampires, especially at night time. Vampires have become the source of fear in so many ways. For some people, there are instances that when they wake up in the middle of the night and lights are off, they would probably think that someone lurking in the dark is waiting to bite them at the nearest chance. Thus, this belief of people about vampires is ingrained in their minds, leading to fear. Furthermore, when a person is alone, especially at a dark place, he might be afraid of unseen forces around him. These fears that have no grounds further scare people (Karg, Spaite & Sutherland, 2009, p.2).

All of the vampire movies and cinematic fictions start from the story of Dracula, who wakes up in the middle of the night to suck blood from the mortals. Dracula only sucks blood at night because he is sensitive to all kinds of light. Sucking blood is the only way to maintain his immortality and to gather disciples by turning his victims to vampires. Some people believe in vampire while some think that it is just a fiction. However, with scary movies such as Dracula, these create social fear among people, especially children. When people hear the name Dracula, many would immediately think of a white-skinned person sleeping in a coffin, with a cape and fangs (Karg, Spaite & Sutherland, 2009, p.5).

 

Another movie features Van Helsing who is described as seductive, exotic, erotic, and one of the most dangerous creatures in the planet. He is a half-human and half-vampire whose sworn enemies are vampires. Van Helsing was sent to Transylvania to haunt Dracula and to stop Dracula from infecting people to become vampires. Thus, these movies further cement people’s belief in vampires (Karg, Spaite & Sutherland, 2009, p.5).

Furthermore, in Europe, people believe that the forefather of all the mythologies about vampire was the vampire of Europe. European blood sucker or vampires in Europe relatively affects the life and culture of Europe, because they believe that the life does not end after one’s death. In European mythology, vampires are described as very ugly with a foul smell and are scary. They will quickly pounce on their victim, especially at night. The lore of vampires in Europe particularly in Western Europe gave birth to all these vampire mythology and lore (Karg, Spaite & Sutherland, 2009, p.9).

One of the famous names that is associated with the word “Vampire” is Bram Stoker. Stoker’s life was very interesting from his childhood as he was bedridden and suffered from illnesses that made his condition somewhat tragic. When Stoker reached the age of seven, miracles happened and he completely recovered from his condition. Later on, Stoker graduated at Trinity College and he became involved in so many theatrical plays that led him to write his first novel, Vlad Dracula. This had a great impact in the society because people are inspired to write novels or make movies interpreting vampires and their existence. Stroker was inspired to write novels on vampires because he was once involved in a play about these creatures (Karg, Spaite & Sutherland, 2009, p.35-36).

From around the world, countries have different terminology for vampires. In Slovakia and Czech, vampires are called upir or the parallel nulapsi. Both come from the revival of the deceased. Upir attacks by embracing the victim hardly until the victim is

 

suffocated. Upir also spreads disease. The worst scenario is that upir can kill people with just a glance through its evil eye. During the late 1700’s, stories from Czech Republic show that people drive stake through the corpse of the suspected upir from the grave (Karg, Spaite & Sutherland, 2009, p.12-13).

Upir or Slavic vampire creates fear among the people of Czech. Thus, the way they bury corpse of the suspected vampire is the same from other’s practices. Vampires in Czech exist to spread diseases in the villagers of the country. This is their primary function. Furthermore, they create mental illness for all their victims in the Czech (Karg, Spaite & Sutherland, 2009, p.12-13).

Different countries have their own interpretations of vampires. In Greece, they suspected that vampires are the recent deceased people. Another terminology of Greek for vampire is Vrykolakas. Vrykolakas were considered as the most vitriolic creatures of Demon in Greece interpretation. To avoid the spread of the vrykolakas, they burned to ashes the corpse to stop the vrykolakas in increasing in number. Greece started to use the cremation of the corpse based on their beliefs that it is the only way to stop vampires from victimizing people (Karg, Spaite & Sutherland, 2009, p.11-12).

In Bulgaria, vampires are called as vampir. Bulgarian folklore states that vampir are those who rise from the grave and appear as normal humans and go to other places where they are unknown and live as normal humans by day. Thus, Bulgarians believed that the deceased should spend forty days on earth together with their guardian angels to go on certain places before going to the world of spirits. When the burial practices were not followed upon burial, it will be hard for the deceased to find their way out on earth and there will be a chance to become vampire (Karg, Spaite & Sutherland, 2009, p.13-14).

 

 

Bulgarians’ belief on vampires affects the tradition of burial. They believe that they have to follow the letter of the deceased upon burial for the contentment of the spirit. Thus, vampire affects the tradition of burial to follow the specific instructions of the deceased for his burial otherwise the deceased will turn into a vampire. In this case, the purpose of vampire is to make right the way of the burial of the deceased people (Karg, Spaite & Sutherland, 2009, p.13-14).

The establishment of vampire myths, stories and experiences in human imagination throughout the years built the concept for movie makers to present another terminology for vampire which was the name “undead”. “Undead” comes from the description of the vampire as immortal. In the year 1959, the film Curse of the Undead was released. Though the plot has random twists and turns, still the concept of vampire according to Stacey Abbott is that:

Largely remain foreign and ancient monster invading a modern environment… Until the late sixties and seventies when the unprecedented peak in public interest of vampires… lead to the increase of self–consciousness and experimentation with generic convention that challenged and  helped redefine traditional vampire mythology (Day, 2006).

 

Five years ago, the death of Arnald Paul was associated with vampirism. The cause of Paul’s death was a fall from a wagon. After Paul’s death, the same incidence happened to four more men. The people started to be suspicious about the random incidence of death. Speculations from the village started and many assumed that vampires killed the men. Villagers recovered Paul’s corpse and they noticed that his hair and nails started to grow again and even his body was red and looked fresh after forty days. According to the Hadnagi of the village, a person who is expert in vampire, Paul started to become a vampire when the villagers saw his body. Afraid that the same incidence might happen to some of them, the villagers pierced the body of Paul with a stake through his heart. Then they beheaded him and burned his body. The villagers did the same to the four others (Day, 2006, p.4).

 

In this story of Arnald Paul, the people in the village became more aware of burying the dead. Thus, the sacred body of the dead people was taken out from the grave to cut off the head. The function of the vampire in this story is to gain population and later on invade where normal human lives (Day, 2006, p.4).

After the release of the movie Dracula, British Weekly reporter interviewed Stroker, the creator of the film about Dracula, if there is any historical basis for the movie. Stroker said:

It rested, I imagined, on some such case as this. A person may have be fallen into a death like trance and been buried before the time. Afterwards the body may have been dug up and found and found alive, and from this horror seized upon the people, and their ignorance they imagined that a vampire was about. (Stroker, 2006, p.4)

 

Stroker stated that the story of Dracula is not an imagination. People believed and he believed that there are vampires in our society. Ignorance about vampire existence will lead them to be a victim and further become vampires. Stroker believed in his creative mind and in his research that vampire lies in the middle of the darkness and in the still of the night (Day, 2006, p.4).

Furthermore, some people doubted about where Stroker obtained his idea in writing Dracula. Stroker’s idea on Dracula may be somewhat related to the European vampires that existed on eighteenth century.  Stroker also shared his mother’s story about the epidemic of cholera in Sligo in 1830’s wherein affected people were buried alive to stop the epidemic. Moreover, vampires existed on Germany through the gothic movement (Day, 2006, p.5).

Stroker also shared some lines about Lord Byron’s narrative tale, which was directly referring to vampires. This shows that even in the poetry people are becoming creative on how they express their thoughts about vampires. Lord Byron is known for his great poems related to cults. In addition, most of his poems pertain to cult and vampires (Day, 2006, 5).   The tale entitled The Giaour points to a curse of vampires:

 

But first, on earth as Vampire sent

Thy corpse shall from its tomb be rent;

Then ghastly haunt thy native place,

And suck the blood of all thy race;

There from thy daughter, sister wife;

At midnight drain the stream of life;

Yet loathe the banquet which perforce

Must feed thy livid living corpse. (Day, 2006, p.5)

 

On the other hand, Stephen King really did a great job in his novel “One for the Road” about vampires. The main character Gerard Lumley was driving his Mercedes Benz and was looking for help because he left his wife and daughter at Salem’s Lot. Salem’s Lot is a very scary place and no one likes to live in the area because it was full of vampires and devil-like creatures. Cold and almost dark all over the place, Gerard finally found Tookey’s bar. Upon telling the story to the people at the bar, he was so hysterical and wanted to go back to his wife and daughter as soon as possible, because he is afraid for his daughter and wife life. When he reached the place where he left his wife and daughter, he found nothing and thought that the vampire killed his wife and daughter. Furthermore, from the story of Tookey and his men, Salem’s Lot is full of vampires that might infect and harm Lumley’s wife and daughter (Spignesi, 1977, p.213-214).

Moreover, upon looking for Lumley’s wife and daughter, fear was the only emotion he felt. Lumley and the rest of the group saw his wife and daughter infected by vampires. King’s creativity in this film made a scary impact to all the people who know the story. Salem’s Lot was really a place in Maine, approximately 7 miles from Portland. Salem’s Lot is located in west Falmouth and south of Cumberland. Travelers started to fear going to

Maine because they fear that the story was somehow true. King’s story socially affected people in such a way that it contributed to their fear of vampires (Spignesi, 1977, p.213-214).

In this novel, people believe that a person can only turn to a vampire if he will be bitten. There are certain places in some stories or movies that become a ghost town because of vampires. Such places are far way from town or in the middle of the forest. Vampire in this scenario describes as scary and the most terrible creatures that creates fear in the mentality of the society. Vampires have only one purpose: it is to pass their virus and awaken the corpse to become like them (Spignesi, 1977, p.213-214).

In the book of Peter Day, Gerard’s belief signifies the characteristics of vampire in the society. There are two kinds of vampires in the world: the living and the dead. The living vampire is the offspring of two illegitimate persons. The dead vampires are those who bite the corpse of recent dead people. In some cases, to stop the vampire, the heart of the suspected vampire must be pierced with a stake straight to the heart. Also, Gerard suggested based from his studies to remove the head of suspected vampire in the grave (Day, 2006, p.14).

Peter Day further adds that the living and the dead vampires have two classifications. The living vampire is the more powerful of the two, having a chance to infect people to turn them to vampires. The belief of the society in vampire is still present (Day, 2006, p.16).

In summation, whether the story about vampires is true, the society has become fearful of these creatures. Stories, television shows and movies that depict the existence of vampires have somehow left fear among the people. However, people have become hooked to stories or movies that depict vampires who are on the side of good, particularly the Twilight series. Among these depictions, vampires seem to have two functions and purposes. One is to bite people in order to survive and to turn their victims into vampires.

References

Day P. (2006). Vampires: Myths and metaphors of enduring evil. The Netherlands: ITI/PTB

Publications.

Karg B., Spaite A. & Sutherland R. (2009). The everything vampire book.

USA: Adams Media.

Spignesi S. ( 1977). The essential Stephen King. US: Career Press.

[Heat Related Illnesses in Hajj]

[Heat Related Illnesses in Hajj]

By

Insert Your Name

Presented to

Instructor’s Name, Course

Institution Name, Location

Date Due

Introduction

Heat related illnesses result when the body temperature of the body of a human being exceeds 38 0C, which is above body temperature of a normal person. Most frequently, these diseases are referred to as hyperthermia and can be divided into three different types: heat exhaustion, heat stroke and mild heat-related illnesses. Manifestations for the heat related illnesses range from mild headache to life threatening respiratory and cardiovascular disturbances (Miller, 2008 p.535).

On the other hand, Hajj is the pilgrimage of Muslims to Mecca, Saudi Arabia. This pilgrimage is considered the biggest regularly held mass gathering event on earth because every year, about 4 million pilgrims gather to perform their rituals (Kettell, 2011 p 4). In spite of the importance of the same to the Islamic religion, the congregation of so many people increases the potential for the spread of infectious diseases and the occurrence of other health-related issues, which poses a considerable challenge to the Saudi Public Health Authorities.Basing on this background, the objective of this research paper is to review and critically appraise the health protection plans regarding heat related illnesses in Hajj.

Discussion

Background

The ritual has to be performed during the first two weeks of Dul-Hajja. Due to the fact that hajj occurs at different seasons depending on whether it is happening in a Hijra year or a Georgian year, this determines the inherent risks in the heat related illnesses. In particular, the risks are severe when the hajj occurs in the summer months of May to September. This is because at this time, the temperatures in Mecca are adverse due to the extreme heat and aridity which is a characteristic of most of Saudi Arabia which is one of the few places in the world where summer temperatures range between 40 0C to 50 0C. The average summer temperature is 45 0C but even readings up to 54 0C are common. The heat becomes intense shortly after sunrise and lasts until sunset followed by comparatively cool nights (MobileReference, 2007 p.1).

Heat Related Illnesses and Symptoms

Most of the pilgrims are from all over the world most of whom are not used to the adverse weather effects of the desert. In spite of the fact that our bodies cool by sweating, in periods of immense heat like the summer periods of Saudi Arabia and many parts of the Middle East, the sweating process is not enough. Despite the fact that the illnesses affects everybody whether working or exercising in the sun, most of whom are susceptible for the risk are the children, the aged, those having chronic illnesses and disabilities as well as people who are on particular medications. This results to our bodies developing heat related illnesses.

The heat related illnesses include heat stroke which is a dangerous illness in which the body temperature rises very high within a very short duration of time (Plus, 2011 para 1). In this case, the person will have symptoms ranging from dry skin which is not sweaty, a very quick strong pulse as well as dizziness. Other symptoms of heat stroke include shortness of breath or trouble breathing, frequent vomiting, severe headache, a flushed or red appearance on the skin, muscle weakness, high fever, muscle weakness as well as confusion or loss of consciousness. In addition, the thermoregulatory centre may also fail so that the patient actually feels cold as well as a vasoconstricted skin leading to a vicious cycle. (Patient, 2010 para 8)

The other heat related disease is heat exhaustion. This happens when the body gets too hot due either hot weather or physical exercise. The symptoms associated with the illness are headache, nausea, first heartbeat, dizziness, feeling of being weak, confusion, heavy sweating as well as having dark colored urine which indicates that the person is dehydrated (Family doctor, 2010 para 2). Heat cramps is also a heat related illness. It mostly results because of the loss of water and salt from heavy sweating. It can cause muscle pain and spasms even though the symptoms are not as serious as those of either heat exhaustion or heat stroke (Maryland, 2011 para 3).

Epidemiology Specific to Hajj

The extra ordinary migration when millions of people from many countries of the world embark on Hajj makes epidemiology a topic of discussion as the Hajj carries diverse risks related to health which may be communicable or not which happens on a very large scale. These different illnesses mostly at this time should be avoided through the adoption of suitable procedures regarding to epidemiology. For instance, epidemiology in regard to travelling procedures in Hajj offers a lot of travelling imminent to the travel specialists. Through this epidemiology, there will be a lot of safeguard to the Hajj because medical practitioners will gain from the findings of the travel related epidemiological changes in the evolution at the Hajj. In particular, there have been a lot of positive effects in epidemiology due to vaccinating policies, infection and control policies as well as public health (Science Direct, 2003 p 96).

Choice of Area for Health Protection Related Incident/Business Continuity Plan

My choice of area for a healthy education related plan is a continuity plan for health education of the pilgrims once they arrive in multiple languages emphasizing the risk of Health Related Infections (HRI) in hajj. This is because the heat related illnesses comprise of a group of clinical conditions in which the temperature regulatory mechanism and the associated physiological systems are unable to adapt efficiently to the stresses which are imposed by the surrounding conditions at high temperatures. The inability to be adaptive to the thermal increase can result to heat illnesses due to the deficiency of water or salt. The syndromes of exhaustion may not be able accompanied by a rise in temperature. There is thus a reason to educate the pilgrims once they arrive as there are some conditions to which one patient may be able to walk to the clinic while another one will even die following convulsions and coma.

During the pilgrimage, a wide range of manifestations of heat illnesses are seen mostly heat stroke and heat exhaustion. The pilgrims should be educated on the need for hydration. This is because there is a great deal of water that is lost through sweating and if the fluid is not replaced, the body will have minimal water to cool itself hence will become dehydrated increasing the risk for heat illness which affects the body processes of the individual. In advanced cases of dehydration, there is increased muscle strength, increased fatigue, decreased endurance as well as mental functioning. This will also include the educational information on the signs and symptoms of dehydration which include dry lips and mouth, flushed skin, thirst, dark colored urine, feeling weak as well as the presence of muscle cramps (Flegel, 2008 p.137).

The people should also be educated on the need for acclimatization. This will involve the pilgrims to come to the country approximately two weeks so as to adjust to the high heat and humidity. On acclimatization, the pilgrims should also be advised that they will be able to respond favorably to the heat when supplemented with ascorbic acid (vitamin C). According to Jürgen, vitamin C is able to reduce the acclimatization period as well as reducing the number of people who do not respond to the acclimatization routine to a great deal (Jürgen, 2010 p.30).

The authorities undertake valuable health promotional work, distributing leaflets and issuing radio and television warnings of the dangers of excessive sun exposure. The number of people who still succumb to the heat is, however, evidence enough that the message needs to be reiterated at every possible opportunity

Issues of Heat Related Illnesses and Critical Evaluation of the Continuity Plan

There have been cases of morbidity and mortality in Hajj mostly due to the inability of the cardiovascular system to respond actively to the problem of the heat related illnesses. During heat stress, great demands are made to the cardio vascular system to divert blood from the central organs though the periphery in order to augment heat loss as well as sweating. An individual with cardio vascular disease can make vulnerable the chances of survival when exposed to the heat stress. Many pilgrims die in the camps when performing the rites and researches are that most of the deaths are as a result of heat induced illnesses and possibly, the failure of the cardio vascular system (Ije, 1983 p.6).

Another critical factor increasing the risk of heat related illnesses among the pilgrims is the high prevalence of chronic disabling diseases among the pilgrims and more so diabetes mellitus. This is due to the fact that diabetes is the least likely to respond to cooling and most of the deaths are thus among these patients. There should be further research on the relationship between heat stress and high blood sugar (Ije, 1983 p.6).According to Saudi annals (2011), the risk of complications and death increased with age with the highest risk noticed amongst pilgrims older than 80 years.

Due to the reason that many people become financially capable of performing the hajj only at an older age after saving money for that purpose for decades, the likelihood of falling ill as well as developing serious medical complications and death is high in such elderly pilgrims. Most of the patients who were admitted were discharged from the hospital within a maximum of 24 hours after admission. This short hospitalization was mainly undertaken to stabilize patients who were then discharged from the hospital as soon as possible so that they would be able to complete the Hajj rituals as well as to free the hospital beds to accommodate the big influx of patients requiring hospitalization in the period (p.350).

Many patients are admitted to the intensive Care Unit with heat related disorders as they are very common when the Hajj season comes during the summer. Most of these patients are the ones suffering from heat exhaustion and heat stroke and are admitted for resuscitation and for active lowering the body temperature as well as for hemodynamic and ventilator support. For the management of heat stroke, the hospitals are equipped with special cooling units commonly referred to as Makkah Body Cooling Units. In spite of all these mechanisms being put in place, several factors make the admission to the Intensive Care Units and even the main hospitals during the Hajj challenging. This is firstly attributed to the number of patients that can be present at any given time that can be very large (Arabi & Alhamid, 2006 p.939).

There is need for the pilgrims to be educated so as to reduce these cases. For example, in the year 2006 the number of patients in the Emergency Department of the Mashaer hospital was 47416, in Makkah hospital 23675 while in Medina they were 1422 during the period of Hajj. Another reason is that most the pilgrims are elderly and have chronic illnesses hence the stress of Hajj put them at a higher risk of de-compensation as a result of dehydration, heat related injury or irregular use of their own medications. The pilgrims also come from many different countries making the physicians and the intensivists to be made to have the background of dealing with some unusual diseases that they not otherwise see (Arabi & Alhamid, 2006 p.939).

During the Hajj, the men in the pilgrimage performing the rituals are forbidden from directly covering their heads either with a scarf or even a hat which increases the risk of the heat exposure because if they could be allowed to cover their heads with such items, they will be better placed to protect themselves from the immense heat of the sun at day time. This is not the case because according to the Muslim teaching this is disobeying their God meaning that the rituals they are performing will not have a significant meaning to them. In this case, the men are at a high risk of the heat related illnesses than the women because the direct heat from the sun strikes the head making them sweat all the time mostly during the day (Barto, 2009 p 100).

The timings for the rituals in the pilgrimage are not rigid as well as them being acceptable at the convenience of the pilgrims thus information should be provided on the best suitable times when there are no much incidences of heat. In spite of the fact that the rituals are numbered, repeatable as well as their consequences being incapable of reversal, there is some flexibility in which they can perform the rituals at any time of the day as well as the night (McCauley & Lawson, 2002 p 150). In this case, there will be few cases of the heat related illnesses as during the night, there is no heat. They can also perform the rituals in the shades or even when the sun is not very hot like late in the day or even at early hours of the morning. This flexibility is good mostly for those Muslims who come from areas of different climatic zones as they are the ones prone to the heat relate disorders.

Implications of the Implementation in My Area of Practice

There are very many implications of implementing the plan on services. To begin with, there is a need for onsite medical volunteers to reach a high number of the affected people. In this context, there should be an on-site medical care whereby the attention received by the individual is comparable to the one received by a person when in a hospital emergency room. This calls for ready first aid personnel on many parts where the pilgrimage is taking place. These first aid personnel evaluate the situation and if necessary they just transport the patients to an on site medical facility where a staff of volunteer doctors as well as doctors are available to attend to the patients.

This should be compared with many playing occasions like the world cup and the Olympic Games which attract many different people whereby there are hundreds of sports medicine professionals and even residents who volunteer in the tournament medical facility. The patients are transported on medical facility carts for medical evaluation. The patient ought to be accompanied by a person who knows the adult such a parent in case of a child or even an adult functioning as a legal guardian. The patients requesting medical attention without guardianship are treated at the discretion of the medical personnel (Usa cup, 2011 para 1).

Rehydration sites should be established where the pilgrimage is taking place just as in the gatherings of Olympic Games and world cup. This entails providing both product and hydration equipment to all the people who attend the pilgrimage in Hajj as an essential part of their elite kitbag. Staying hydrated is essential in the prevention of heat related illnesses (Tropical, n.d). This will be a big step to ensure optimal hydration for the seven days of the pilgrimage more so when the occasion occurs in the summer periods which will there fore serve as an essential component of the pilgrims in performing their rituals in a good way. There should there fore be a balance on the activities a person is having during the pilgrimage and measures which are helpful to the body as a cooling mechanism as well as preventing heat related health problems.

This should consist of isotonic soft drinks which contain fluids and minerals for effective hydration as well as carbohydrates for replenishing the water as well as the energy the body loses during the period f immense heat of the sun. It should have a combination of carbohydrates as well as being enhanced with minerals including sodium that hydrates the body so as to rapidly fuel physiological working of the pilgrims so as to make them sustainable in the entire period of performing their rituals (Bt paralympic world cup, 2011 para 1).

Another implication of implementing the plan is making sure that smaller cars are used for ambulance so as to ease the transportation of the clients due to the fact that the small cars are able to go through the crowds more easily than the larger ones. These small ambulances ought to be made available in Saudi Arabia during this time of pilgrimage as they would help address the challenge of the victims of heat related illnesses as some patients may be in need of immediate care. This is for instance more to those patients who may suffer from heat stroke which is the most dangerous of the heat related disorders whereby those who have been affected by it may pass away if immediate measures are not taken to rectify the situation and in this case the small cars used as ambulances will be able to serve the purpose of rushing the patients to hospital by being able to go through the crowds. In addition to this, there is also a need for the number of ambulances being increased so as to cater for the large amount of patients who may have cases of the heat related illnesses hence able to take them out of the risk of death.

Implementing the plan will lead to administrative hassles when dealing with the deaths of the pilgrims which ranges from contacting the families of the patients abroad to arranging for the corpses to be removed and flown to their own countries. Due to the fact that most people who go to perform the rituals in Hajj do not have close relatives means that in cases of death of the persons, there will be a lot struggles in trying to find information on the relatives of the dead which may take a lot of time in spite of the fact that the person has already died and he or she is continuing to rot (Shurtz, 2009 p.4).

It is for this reason that the people going out for pilgrimages should be educated on the need of providing information just after they arrive to he country in the offices of their ambassadors so that if anything happens such as death or even severe illness we may be able to contact the office of the ambassador and give details of whatever might have happened so that fast measures may be taken like. This will involve their families in the countries they come from being informed so that they arrange for the corpses to be removed and be flown to their home country (Shurtz, 2009 p.4).

There ought to be effective collaboration as well as communication with emergency medical services and volunteer medical staff onsite. This will be a great step to reduce the most serious challenge the hospital sector faces. It will also be good for the patients and the community as for instance when a person gets ill, the volunteer medical staff onsite will be able to inform the emergency medical services so that they may be able to send ambulances or the small cars without the waste of time. This will also reduce the number of deaths which result from the poor communication as well as the collaboration between the emergency medical services and volunteer medical staffs (Nhrmc, n.d para 5).

Establishing a surveillance system so as to detect the early on set of the heat related illnesses will need to be implemented. This to a great extend entails recognition of the diseases by health care providers who have the knowledge of noticing an unusual pattern of disease trends by capturing data related to the onset of illnesses which includes visits to emergency departments, clusters of patients with certain symptoms or the purchase of over the counter medications (Wagner, Moore, & Aryel, 2006 p. 62). This system is intended to provide a warning to the health departments so that rapid responses can be made thus limiting morbidity and mortality rates. Furthermore, recognizing the numerous complexities between detection and response to the illnesses will be of help to policy makers in their evaluation of the scope, capability as well as the effectiveness (National Research Council (U.S) 2010).

Early detection of any particular disease is very important in the prevention of the spreading of diseases. This is because by the time the health authorities are in a position to identify a particular disease outbreak by reports; chances are that it may be too late for the large pandemic outbreaks to be prevented. This there fore explains the importance of the authorities receiving timely information as much as possible from the time of infection as it is possible to detect an infection close to the time of contagion and escalating through the incubation period (Kuhn, 2007 p. 566).

The hospitals need to have the capacity to increase the number of doctors, nurses and beds so as to be able to accommodate all the patients in the period. This calls for additional hospitals to be built by the ministry of health mostly to take care of the many patients during the pilgrimage to Hajj. The staff should also rotate as this will increase flexibility within the workforce as well as becoming familiar with the diverse jobs within the organization hence be dispatched easily to another area in times of shortages of staff. This will be of great importance in the period of the pilgrimage when there are shortages of nurses and doctors (Harris, 2005 p 249).

Recommendations

Illnesses and even deaths caused by heat are preventable but in spite of all this, many people in the pilgrimages yield to the extreme heat. There are many people dying from extreme heat than those dying from hurricanes, lightning and earth quakes in these places. People need to be aware of who is at greatest risk as well as the measure which can be undertaken to prevent the heat-related illnesses and death. In particular, the elderly, the young and people with mental illnesses and chronic diseases are at the highest risk of the same. Also, the healthy individuals can also succumb to the heat if they take part in strenuous activities during periods of hot weather.

I recommend that the Saudi Arabia country should take measures of dealing with the global climatic changes affecting many parts of the world such as reduction in pollution as this is one of the factors contributing to the rising of temperatures in the country. This is because if the situation at hand is not put into control, many years to come will be more problematic than the current situation as the more in which the ozone layer is being depleted, the worse the situation is becoming. The country should cooperate with the other countries of the world so as to take the required procedures to address the global climatic change (Mc Michael, 1993 p 148).

I also recommend that further research ought to be done in order to prevent the issues of heat related illnesses. This research should be done by the ministry of health so that in next year, adequate measures will have been put into place so as to prevent the disorders. This research should cover areas such as whether the hospitals can be made to have the capacity to increase the number of doctors, nurses as well as the beds. The cases or staff rotation and impacts of the staff working over time should also be put into consideration.

The ways in which embassies of different countries can have information on the number of people from their country as well as any other information regarding those people so that in case of anything they can be contacted should also be researched as to whether the same is possible. Other issues should include the effectiveness of a surveillance system being put in place so as to detect any early onset of human related illnesses. This will ease the hassles that arise when dealing with deaths of foreign people more so the administrative ones. Moreover, research on the efficiency and effectiveness of smaller ambulances as well as how people are willing to volunteer so as to reach the number of people who are affected should also be undertaken.

Conclusion

Each and every mass gathering has slightly different variables meaning that there is no single plan which can be efficiently applied to all the events. Despite all this, a systematic as well as an organized approach for medical care can be devised for any event and planners ought to be involved with the medical planning for mass gathering events that they may be called on to respond to. Nevertheless, our goal as event medical organizers should be to create a comprehensive plan for routine medical care as well as a disaster plan which can be implemented in the case of a mass casualty occurrence. Moreover, good preparation is the best way to ensure medically uncomplicated event with minimal morbidity whereby all those who are involved enjoy the experience.

References

(U.S), N. R. (2010). Biowatch and public health surveillance: evaluating systems for the early detection of biological threats. Washington: National Academies Press.

Arabi, Y., & Alhamid, S. (2006). Emergeny Unit to the Intensive Care Unit in Hajj. Saudi Med , 937-941.

Barto, L. ( 2009). The Bible and the Qur’an at the Edge of Renaissance. Maiden: Hillcrest Publishing Group.

btparalympicworldcup. (2011, May 28 ). Official Sports Drink : Powerade. Retrieved August 8, 2011, from http://www.btparalympicworldcup.com/partners/powerade.php

Familydoctor. (2010, December). Heat Exhaustion and Heatstroke. Retrieved August 6, 2011, from http://familydoctor.org/online/famdocen/home/healthy/firstaid/basics/088.html

Flegel, M. J. ( 2008). Sport First Aid. Champaign: Human Kinetics.

Harris, M. G. (2005). Managing health services: concepts and practice. Marrickville: Elsevier Australia.

Ije. (1983). Epidemiology of Heat Illnesses During the Makkah Pilgrimages in Saudi Arabia. Retrieved August 8, 2011, from http://ije.oxfordjournals.org/content/12/3/267.full.pdf

Jürgen, B. F. (2010). Extracting the Science: A Century of Minning Research. Littleton: SME.

Kettell, B. B. ( 2011). Introduction to Islamic Banking and Finance. n.c: John Wiley and Sons.

Kuhn, K. A. (2007). Studies in Health Technology and Informatics. Amsterdam : IOS Press.

Maryland. (2011). Heat-Related Illnesses. Retrieved August 6, 2011, from http://fha.maryland.gov/ohpetup/eip_heatillness.cfm

McCauley, R. N., & Lawson, T. E. ( 2002). Bringing ritual to mind: psychological foundations of cultural forms. Cambridge: Cambridge University Press.

McMichael, A. J. ( 1993). Planetary overload: global environmental change and the health of the human species. Cambridge: Cambridge University Press.

Miller, C. A. ( 2008). Nursing for wellness in older adults. Philadelphia: Lippincott Williams & Wilkins.

MobileReference. (2007). Travel Mecca and Saudi Arabia for Smartphones and Mobile Devices. Boston: MobileReference.

Nhrmc. (n.d). Stronger Together. Retrieved August 8, 2011, from http://www.nhrmc.org/body.cfm?id=5146

Patient. (2010, August ). Heat-related Illness. Retrieved August 9, 2011, from http://www.patient.co.uk/doctor/Heat-Related-Illness.htm

Plus, M. (2011, July 29 ). Heat Illness . Retrieved August 6, 2011, from http://www.nlm.nih.gov/medlineplus/heatillness.html

Saudiannals. (2011, June). Hospitalization During Hajj. Retrieved August 8, 2011, from https://www.saudiannals.net

ScienceDirect. (2003, Pages). Travel epidemiology: the Saudi perspective. International Journal of Antimicrobial Agents , 96-101.

Shurtz, N. ( 2009). Education planning: taxes, trusts, and techniques. Chicago: American Bar Association.

Tropical. (n.d). Health Issues and the Hajj. Retrieved August 9, 2011, from http://www.tropical.umn.edu/TTM/VFR/Hajj/Health_Issues_and_the_Hajj.htm

Usacup. (2011). MEDICAL SERVICES. Retrieved August 8, 2011, from http://www.usacup.org/community/medical.stm

Wagner, M. M., Moore, A. W., & Aryel, R. M. (2006). Handbook of biosurveillance. Amsterdam: Academic Press.

Impact of Corporate Governance on the Needs of Stakeholders

 

 

 

 

Impact of Corporate Governance on the Needs of Stakeholders

Insert Name

Insert Course Title

Insert Instructor’s Name

23rd July 2011

Table of Contents

Executive Summary

Corporate governance entails the regulations with which companies emulate their management policies. The involvement of shareholders in the operations of any given company is important. In this regard, firms have emulated the shareholder model which seeks to maximize the shareholders’ returns. In order to ensure the high profits and growth of the company, executives and non-executive board members should ensure a strong team work ethic among all the stakeholders. This calls for the adoption of the stakeholder’s model which seeks to create a strong relationship among all the stakeholders.

Being a major grocery and retail shop in the international market, Tesco, a UK-based firm, has an effective corporate governance structure that has made it successful. For example, the Tesco executives have listed the company in the London Stock Exchange. This has ensured adequate security for the shareholders’ investment as well as public confidence. In the same way, the company has attracted various investors with the aim of strengthening its capital base. Some of the major investors include Fidelity Intl Ltd, Barclays Bank, Capital Group Companies as well as Legal and General Group Plc. One of the major aspects which made Tesco acquire a competitive position is the acquisition strategy. Having formed a joint venture with Singapore Metro Holdings, the company expects to increase its dividends by more than 45% in 2011. This will be achieved through the contract it has acquired in developing shopping malls in China. The return on equity of Tesco is 15.35% while the gross profit ratio’s percentage is 6.255%. These figures indicate the strong financial background which has made the shareholders enjoy higher dividends as compared to the competitors.

In order to create strong public confidence and the shareholders’ trust, it is crucial for executives, and especially the CEOs, to adopt effective management strategies. These include: annual and emergency general meeting; proper financial reports; shareholders involvement; and, updating the shareholders on the progress of the company.

Introduction

Corporate governance entails the set of policies and processes as well as the regulations which determine the way an organization is administered or managed (Holton & Glyn, 2006). In addition, corporate governance covers the relationship which exists among the various stakeholders of a company including the shareholder, the management team, the employees, as well as the customers. Other external stakeholders include the debtors, suppliers, and other members of the community. Due to the increasing trend in the collapse of local and international companies, organization and government authorities have taken various initiatives in order to maintain a strong corporate governance. One of the notable regulations which were passed in 2002 was the Sarbanes-Oxley Act. This regulation which was passed by the US federal government, focused on maintaining a strong public confidence in corporate governance. In order to ensure public confidence in the corporate governance, large firms such as Tesco maintain a large number of items which makes up the entire corporate governance. However, the large aspects of corporate governance have been narrowed into five categories. These include: ownership structure; corporate responsibility; auditing; management; board structure; and, financial responsibility. This paper will provide an intensive data analysis which shows the impact of corporate governance on the needs of the stakeholders, especially the shareholders. In addition, the paper will provide data analysis indicating the implications of corporate governance on Tesco.

Effects of corporate governance on stakeholders

Generally, corporate governance affects the growth, development and functions of capital markets and has a very big influence on the allocation of resources. It has a general effect on the industrial competitiveness and the economies of its member countries. Good corporate governance is hard to find and the systems have their strengths, weaknesses, and different economic implications. The effect of corporate governance is influenced by the differences in various countries’ legal and regulatory frameworks, and historical factors (Monks et al, 2004).

The boundaries of corporate governance vary widely and its impact on the economic performance brings about two models of the corporation which are the shareholder model and the stakeholder model. Corporate governance uses the shareholder model to describe the formal system of accountability of senior management to shareholders and, in a wider sense, the network of formal and informal relations involving the corporation can be described by the stakeholder model. Approaching the stakeholder model, it generally emphasises contributions by stakeholders that has contributed to the good performance of the firm and the shareholder value for a very long time. The shareholder approach reveals that for the corporation to be successful in the long term, business ethics and stakeholder relations must be put forward and practiced (Franks and Mayer, 1996). Thus, corporate governance has a large impact on the reputation and the performance of stakeholders. Having a clear understanding of the models will help us to understand the impact that corporate governance has on stakeholders and shareholders and will help us appreciate the different sides of this paper.

Shareholder model

According to Berglof (1997), the shareholder model plays a role in maximizing the wealth of shareholders through allocative, productive and dynamic efficiency, thus, ensuring maximum profits. The shareholder value is much more important in this model as it depicts the performance of the firm. Corporate governance ensures that firms are run in the interest of its shareholders through the managers and directors of the firms unless executive decision making and separation of beneficial ownership underlie the corporate governance. The separation of beneficial ownership may cause the firm’s behaviour to deviate from making maximum profits. This results from the different points of view between investors and managers when there is a separation of ownership and control. The managers may have their personal objectives such as maximizing their salaries, enlarging their shares in the market, or even attaching themselves to particular investment projects for their own benefit. They do this because they do not bear the full cost nor reap the full benefits of their contribution to the firm. Therefore, the investor’s plan of maximizing shareholder value may be affected. This is a negative effect of corporate governance, which has maintained public and political interest as its regulation.

For corporate governance framework to be considered effective, it must minimize the agency costs and resolve problems associated with the separation of ownership and control. To be able to control or align the interests and objectives between managers and shareholders, certain steps or methods must be used to help overcome problems of entrenchment and monitoring. One method is giving the shareholders the privilege to monitor management by strengthening their rights. This approach will help investors avoid exploitation by managers legally. Another method is aligning the managers’ interests with those of the shareholders directly by inducing executive compensation plans and direct monitoring by boards. This method will attempt to induce managers to carry out management efficiency. Another method is to incorporate indirect means of corporate control such as the means provided by the markets for corporate control by the managerial labour markets or by the capital markets. A critique of this model is the presumption that this model involves conflicts between strong, entrenched managers and dispersed shareholders. This will aid in the development of a corporate governance problem to resolve the monitoring and management issues in the principal-agent context with dispersed ownership. Ownership concentration is very important to be able to discern the protection of investors. However, unlike the widely held corporation where the expropriation of shareholders by the managers is high, the closely held corporation uses block holders or a majority of shareholders to control the corporation. The ownership concentration is a way of resolving the monitoring problem thus considered relevant in preventing the damaging effects on the performance of firms caused by the separation of ownership (Monks et al, 1991). For the closely held corporation, the problem of corporate governance is not primarily about general shareholder protection or monitoring issues. Instead, the problem is that of cross-shareholdings, holding companies and pyramids, or other ways that dominating shareholders use to exercise control at the expense of minority investors. The presence of large shareholders in the firm improves the supervision of management, thus, enhancing performance. However, majority shareholders or block holders may use the firm for their own personal benefit, thus, expropriating the minority shareholders and other stakeholders. Obtaining the direct evidence to measure the extent of expropriation of rents by shareholders or controlling block holders is difficult, thus, an indirect way has been devised. Controlling shares are expected to trade at a premium to serve as evidence for significant private benefits of control that may come at the expense of minority shareholders.

In surveys done by Levy (1982), they suggested that control is valued. This would not be the case if the block holders and the majority share holders received the same benefits as other investors. In the United States, large blocks of equity trade at a significant premium compared to the post-trade price of minority shares with an average trading value at a 20% premium. Levy (1982) stipulates that other countries where concentrated ownership is the norm, the expropriation of benefits by controlling block holders at the expense of minority stakeholders is a major problem. The voting premiums in these countries suggest that either the managers divert profits to themselves at the expense of non-voting shareholders or high private benefits of control as shown in the table below:

Country Voting premium (%) suggestion
Sweden 6.5 Relatively low premium and low proportion of private benefits
Israel 45.5 Average proportion of private benefits
Switzerland 20 Average proportion of private benefits
Italy 82 High private benefits of control
USA 20 Average proportion of private benefits

Source: Porta, et al, 1997

Small and illiquid markets result after the expropriation of minority shareholders by the controlling shareholders. In such countries, capital markets remain underdeveloped relative to the US and the UK as observed by la Porta et al (1997). The R&D investment is adversely affected as a result of debts in the illiquid market, thus, the R&D/GDP ratio is affected. As an example, the graph below shows findings by Gugler (1999), showing the relationship between stock market capitalization and R&D spending for some countries. The horizontal axis represents the stock market capitalization (% of GDP) in the specified countries while the vertical axis represents the R&D.

 

Source: Gugler, 1999.

Narrowness in solving the corporate governance problem is another critique of the shareholder approach. The shareholder approach to corporate governance is primarily concerned with aligning the interests of managers and shareholders together by ensuring the flow of external capital to firms. Teamwork from investors, creditors, employees and various distributors will contribute much to the ultimate success of the corporation, thus, affecting corporate governance and the economic performance.

Stakeholder model

As described by Mayer (1996), the stakeholder model takes a broader view of the firm. Gugler (1999), depicts that companies should consider the interests of their stakeholders first when designing their corporate strategies. In this perspective, stakeholders are people or constituencies that contribute voluntarily or involuntarily to its wealth-creating capacity and activities, therefore termed as potential beneficiaries of the firm (Post, et al., 2002). This model provides a convincing theoretical framework for analyzing the relationship between company and society and it is directly related to the literature of corporate sustainability and corporate social responsibility. With regard to corporate governance, the stakeholder model has affected various aspects of aspects of the conventional shareholder-wealth-maximizing firm. However, given the potential impact of corporate governance on economic performance, the notion that corporations have responsibilities to other parties, aside from the shareholders, merits consideration. The most important thing is the impact that various stakeholders can have on the behaviour and performance of the firms and on economic growth. Any assessment on the implications of corporate governance on economic performance must consider the incentives and disincentives faced by all participants who potentially contribute to the firms’ performance. The latest stakeholder model, as compared to the traditional one, specifically defines stakeholders as those who have contributed to a firm with specific assets (Blair, 1995). The new stakeholder model, as a natural extension of the shareholder model, defines best firms as the ones with dedicated and committed customers, suppliers and employees. For example, performance of a firm will depend on the contributions made by various resource providers of human and physical capital whenever specific investments by the firm need to be made. Shareholders need to take account of other stakeholders with interest. They should also work hard to promote the development of long term relations, trust and commitments between the different stakeholders (Mayer, 1996). Corporate governance, thus, becomes a problem of finding mechanisms that elicit firm specific investments on the part of various stakeholders.

Mayer (1996) stipulates that underinvestment is a major consequence of opportunistic behaviour. He further states that underinvestment in the stakeholder model would include investments by employees, suppliers and other investors. If employees are unable to share in the returns of their investment, they most probably would be unwilling to invest in firm specific human capital. However, they will have to bear the opportunity costs associated with making those investments. Employees may choose to leave the firm once they are endowed with increased human capital because of the incurred costs of the firm. Corporate governance becomes a problem of finding mechanisms that reduce the scope of expropriation and opportunism. This happens when suppliers and distributors underinvest in firm specific investments such as customized components and distribution networks. The stakeholder model describes corporate governance as being primarily concerned with how effective the different systems of government are in lifting the standards of long term investments and the commitment of various stakeholders to the firm (La Porta et al., 1999).

Blair (1985) argues that corporate governance should be viewed in a broader context as the set of institutional arrangements for governing the relationships among all of the stakeholders that contribute firm specific assets. Blair (1995) states that one downside of this model is the fact that the managers or directors may use a stakeholder’s reasons to justify their poor performance in the firm. One of the benefits of the shareholder model is that it provides guidance in helping managers set priorities and come up with proper mechanisms for measuring the efficiency of the firms’ management team. Underinvestment is another issue that the stakeholder model emphasizes on overcoming, thus, encouraging active co-operation amongst stakeholders to ensure maximum profits of the corporation for a very long time.

It becomes very difficult to develop corporate governance frameworks and mechanisms that elicit the socially efficient levels of investment by all stakeholders when maintaining the performance accountability aspects provided by the shareholder model. How the firm should attain stakeholder objectives and how to effectively monitor performance will be determined will need to be clearly defined.

The perspectives of the stakeholder and shareholder model differ in one way or another as an impact of corporate governance. This is shown in the table below.

  Shareholder perspective Stakeholder perspective
Purpose Maximizing shareholder wealth Ensure multiple objectives of parties with different interests
Governance structure Principal-agent model where managers are agents of shareholders Team production model
Governance process Control Coordination, cooperation and conflict resolution
Performance metrics Investor commitment depends on the shareholder value Multiple stakeholders commitment depends on fair distribution of value created
Residual risk holder Shareholders All stakeholders

Source: Blair, 1995.

As discussed above, the stakeholder and shareholder theory suggest legitimacy and good response in the different firms. As classified by Blair (1995), various stakeholders, including the shareholders, are classified as consubstantial, contractual and contextual.

It is also clear that corporate governance has a very great effect on the development and functioning of capital markets. For instance, it influences the allocation of resources in different firms. This paper further develops the understanding of corporate governance and its effect on corporate performance and economic performance in different countries. This is to address most of the underlying factors and solutions that ensure or promote efficient corporate governance.

Data analysis showing the impact of corporate governance on Tesco

Tesco Plc is one of the globally renowned general merchandise and grocery store chain with its headquarters in Cheshunt, UK. The firm is the third largest grocery and retail shop after Carrefour from France and Wal-Mart from the United States in terms of annual sales revenues. Tesco Plc is the third best company in terms of revenue shares among retail segments and second largest in terms of net income. The firm has more than 13 retails shops in North America, Europe and the Asian continent. In the UK, Tesco is the grocery market leader with an approximate 30% of the market share and is one of the few retail shops which are listed in the London Stock Exchange (LSE). Originally, the company specialized only in food but it has, since then, diversified to other areas such as clothes, consumer electronics, selling and renting, financial services, consumer telecoms, internet services, among others, all in an effort to diversify its market niche. Despite the strong competition being faced by the company due to reduced barriers of entry as well as improved technological advances, the firm has remained as one of the most profitable firms (Robert, 2008).

Impact of corporate governance on shareholders

It is clear that the provisions of corporate governance affect the firm’s market value as well as its long term performance. It is mainly quantified by the effect of governance votes through the study of the results of the votes on shareholders’ meetings. Due to the fact that proposals which fall around the majority vote’s threshold are mostly uncertain, this makes it hard for investors to clearly predict the direction of the firm. Kevin (2009) stipulates that on average, markets react to the passage of governance related to shareholders’ proposals with a positive abnormal return of about 1.3% of votes. Actual implied increases in the market value of implementing a single proposal are approximated to be 2.8% (Paliwoda, 2007). Further, the effects on market values are more pronounced in firms having concentrated ownerships, high pre-existing anti-takeover provisions, as well as high research and development expenditures. The agencies view of corporate governance depicts that shareholders mainly forgo their decisions making rights and controls and, rather, trust the managers to act in the shareholders’ best interests. Corporate governance mechanism includes systems of control which are intended to align the managers’ incentives to those of the shareholders. Agency concerns are lower for the controlling shareholders (MacLaurin, 1999). For Tesco Plc, the impact of shareholders on corporate governance has been evident in the recent past. For example, in the recent annual general meeting held in Nottingham on 1st July 2011, 3.3% of the investors refused to back the company’s remuneration report. This was a clean break which followed the recent move by the firm to radically alter remuneration policy for the top executives. This has forced Tesco to remove executive share options from the director’s pay packets replacing them with performance share awards. This is a clear indication that the impact of shareholders in any firm cannot be underrated, thus, making it vital for managers to fully act in the interest of the shareholders. Generally, corporate governance affects major areas such as the market share, type of investors, share prices, dividend allocations, and cash flow, among other aspects, which are vital for investors.

Investors in Tesco Plc

Due to its recommendable growth especially in the foreign markets such as Asia, northern America and Latin America, Tesco has attracted many types of investors. This has, in turn, increased the profitability of the firm to approximately £2.66 billion with a sales revenue of £60.92 billion during the fiscal year 2010. Fidelity Intl Ltd, a major Tesco shareholder, has invested 106,803,580 shares amounting to over 2.1% of the share holdings in the firm. The table below indicates a list of other major global companies who have invested in Tesco Plc and their respective shareholdings in the company.

Name of the Company Number of shares in Tesco Plc The percentage shareholding
FRM Corp 289698967 3.02
Legal and General Group PLC 315905160 4.00
Barclays 300460802 3.79
Capital Group Companies 290054075 3.66

Source: Nash, 2011.

From the table above, it is evident that Tesco Plc has greatly won the confidence of major global firms such as Barclays, among others, making a considerable investment in the company in the last decade.

Share prices at the London Stock Exchange

As indicated above, Tesco Plc is one of the few retail and grocery stores which are listed on the LSE. The high level of profitability of the firm despite the recent financial crises, causing a reduction in the profitability of many retail firms across the globe, has boosted the investors’ confidence. This has made the company shares to trade at a high of US$490 within the last year. Hausman (2005) indicates that an increase in value of shares on the stock exchange is driven by the high demand for shares as compared to the available supply. On this note, it is clear that less investors are willing to sell their ownership of the company. This has driven the decrease in the supply of shares resulting to the increased price of shares on London Stock Exchange, among others. The table below indicates the prices of the share prices of the firm for the last year.

Month Year Share price in US$
June 2010 280.40
August 2010 340.78
October 2010 297.23
December 2010 326.40
February 2011 430.69
March 2011 480.50
May 2011 388.67
July 2011 392.39

Source: Nash, 2011.

This information is also represented by the graph below:

500

                 
                   

450

                 
                   

400

                 
                   

350

                 
                   

300

                 
  June August October December February March May July    

                 
                   
                 

In the last month, the share prices have been on a decrease compared to the other months. This can be attributed to the change in management as David Reid, the current chairman, is retiring on November this year. He will be replaced by Sir Richard Broadbent, the current deputy chairman of Barclays PLC. Many potential investors fear that the chairman will employ some of the austerity measures being applied by financial institutions to reduce the company’s operational costs. The table below indicates the share prices of Tesco PLC as compared to close competitors in the European market.

Company Average share values in 2006 Average share values in 2007 Average share values in 2008 Average share values in 2009 Average share values in 2010
Tesco 331 352 358 366 411
Asda 39 46 55 48 55
Sainsbury 293 302 299 302 381
Morrison’s 221 253 268 251 262

Source: Humby, 2006.

The above data can be analyzed in a graph as indicated below:

From the above graph it can be deduced that Tesco is one the most stable companies among the three close competitors, thus, resulting in higher share prices in the LSE.

Dividends

The main aim as to why shareholders invest in any given company is to benefit from dividends. Usually in the form of cash payments to the shareholder, dividends are mostly paid on a quarterly basis. When the performance of dividend paying stock is compared to the non-dividend paying stocks, the difference of total return perspectives, mainly capital appreciation added to the dividend, is quiet surprising. Buerkle (2009) stipulates that due to the prevailing hard economic times, most companies, especially in the developed countries, keep all profits in order to invest back, thus, not giving any dividend. This has been brought about by the increase in fuel prices in the international markets and reduced buying power among customers resulting to higher operation costs. To most potential shareholders and other investors, they consider investing in firms which includes dividend paying stocks in their portfolios. Due to the attractive returns offered by Tesco Plc, the company is considered stable as compared to other companies which do not pay dividends. Further, this has reduced the volatility of stock prices, favourable tax treatments by governments in which the company operates, increasing yields, among other advantages. The table below indicates the amount of dividends per share paid by Tesco Plc in the last five years:

Year Divided paid per share in £ Percentage increase
2007 0.1064 9.34
2008 0.1196 12.40
2009 0.1305 9.11
2010 0.1445 10.73
2011 (est.) 0.2133 47.61

Source: Nash, 2011.

From the above table, it is evident that Tesco Plc has remained profitable, thus, being able to allocate dividends to its shareholders. In the fiscal year 2011, the company hopes to increase its dividends’ allocations by over 45% as profit is expected to rise by a similar percentage due to the acquisitions and alliances being made by the company in the Asian continent. For example, on the 28th of February 2011, Tesco announced that it had signed an agreement for a joint venture in developing shopping malls in China. Half of the joint venture is to be owned by a consortium of investors from the Asian continent which includes Singapore Metro Holdings. Tesco will contribute over GBP 25 million in terms of equity. The final dividend for the fiscal year 2010 was paid on July 2011 to all the shareholders who registered at the close of business on the 3rd of May 2011. Generally, it is important for a business to offer dividends to its shareholders as this is a clear indication that the business has grown to another stage where retaining all the earned capital is not encouraged. Nash (2011) indicates that paying out of dividends helps generate interest from other potential investors willing to invest in the firm and, thus, receive the dividends.

Cash flow

Although most of the businesses exist in order to make profits, it is important to note that many shareholders are highly interested in the way the cash flow is managed by the companies they have invested in. Kevin (2009) indicates that the more the cash flows within the business, the higher the profitability of the firm provided other factors such as economic and political stability are kept constant. Cash flow refers to the amount of money that is paid out and received by a firm. It is the variation of receipts and payments being added to reserves by a company. For organisations to remain profitable both in the short and long run, it is essential for them to have a substantial amount of cash flow as compared to accounts receivable. Nash (2011) stipulates that cash flow for any given company should be at least 10% of the annual sales revenues. This is due to the fact that adequate cash flow helps in catering to the current obligations of the firm such as paying for the staff, minor acquisitions and alliances, and payment of creditors, among other duties. In this regard, shareholders should thoroughly investigate the cash flow of a firm prior to making any notable investment. This is further aggravated by the current economic times where lenders, including the banks, are reluctant to offer short term loans to companies due to the fear of financial non-performance of firms especially in the European and American continents. This calls for the business to be financially sound by having adequate cash flow to cater for the above duties. Companies which manage their cash flow in the right ways tend to have sustainable growth in dividend payout over time. These successful growth of earnings mostly attract new investors as it results to increased share prices. In the fiscal year 2010, Tesco Plc had an impressive cash flow of £3.833 billion as compared to its closest competitors such as Morrison’s who had less than half of this figure.

Price earnings ratio on shares

This is the price of shares divided by annual earnings per unit share. From its P/E ratio on shares, it is clear that Tesco Plc has one of the highest values among close competitors both in the domestic and international market. In 2010, the P/E value was 14.3. In 2009 and 2008, P/E value was 13.5 and 12.8, respectively. This is recommendable since Wal-mart, the leading retail and grocery chain in the world, had a P /E value of 14.6 and 13.2 in 2009 and 2008, respectively (Nash, 2011).

Market share

Tesco Plc is the market leader in terms of market share as compared to other close competitors. The table below indicates the market dominance of Tesco among four main companies in the year 2008 and 2009.

Company Percentage Market share in 2009 Percentage Market share in 2008 Percentage change
Tesco 30.4 30.3 0.1
Asda 16.8 16.7 0.1
Sainsbury 16.2 16.0 0.2
Morrison’s 12.2 11.7 0.5

Source: Joshi, 2005.

From the above, it is evident that Tesco Plc is the market leader in the UK grocery and retail segment. The management team of the company has invested heavily in the healthy management of retail shops in the UK and overseas markets. The enormous market share of Tesco in the domestic market has attracted many people to invest in the firm, thus, resulting in a remarkable growth.

Return on equity (ROE)

ROE is a vital tool in measuring the profitability of a firm. It reveals the amount of profit earned by a business in comparison to the total amount of the shareholder’s equity. Nash (2011) indicates that a firm that has a high ROE is more capable of generating cash internally to run its operations.

Return on Equity = (Net Profit /Average stockholders Equity)*100 (Robert, 2008)

The Average Stockholders Equity = (Beginning stockholder Equity + Ending stockholder Equity) /2 (Robert, 2008).

ROE= (2,970,000,000/4,752,332,000)*100

=15.35%

From the above figures, it is clear that Tesco Plc has maintained a recommendable ROE as compared to other close competitors such as Morrison’s and Asda, among other retail shops operating in the UK market. This results in being able to attract more investors as compared to the other firms.

Return on investments

Return on investments measure the returns on a proprietors’ investment in a firm. It provides a quantitative basis from which companies can make decisions. ROI also provides frameworks to determine the way investments can be made profitable. This can be achieved by lowering the cost of investment or by speeding up the magnitude at which gains are recognized by a firm.

R.O.I = (profit after tax/ Total share capital plus reserves) * 100

ROI = (2,970,000,000/ 3,174,296,996) * 100

= 9.35 %

Gross profit ratio

This is ratio indicating margins of sales compared to buy or the factory costs.

Gross profit ratio = (Gross profit/sales) * 100 (Simms, 2010).

Gross profit ratio for FY2010

Gross profit ratio = (3.811/60.92) * 100 = 6.255%

Profit margin

The profit margin is obtained by dividing the net income by the revenue generated. According to Tesco’s profit and loss account, the net income for the fiscal year 2010 was £2.66 billion while annual sales were £60.92 billion.

Profit margin = (profits after interests and taxations/ sales) *100

Profit margin for FY 2010

Profit margin= (2.66/ 60.92) * 100

= 4.37%

It is clear that for each pound Tesco gets from sales, the firm keeps approximately 4 cents. Although this is not a recommendable figure for many of the investors and shareholders, it indicates that the firm is still profitable as it can keep some funds to cater to other activities. In the fiscal year 2009, the company had a profit margin of 6.76% (Humby, 2006).

Recommendations

Due to the increased need to diversify their investment portfolios, the CEOs of major companies, including Tesco, should hold regular meetings with the non-executive members of the board. During such meetings, executive board members and the CEOs should not present. In this way, the non-executive members will air their views regarding the performance of the top executives. I also recommend the involvement of shareholders’ representative’ in such meetings in order to give the views of other shareholders. Due to the great interest that majority of shareholders have regarding the daily operations of firms, it is prudent for the CEOs to be clear with the process of compiling the profit and earning figures of the company. In this way, the public confidence and the shareholders’ trust will be enhanced. The disclosure of annual reports, especially through the websites, is another essential aspect which local and international companies should emulate. In this way, shareholders will be updated on the financial performance of the companies. Due to the corruption and ineffective management practises, many firms have collapsed. It is, therefore, vital for executives to initiate proper regulations to avoid loopholes which may lead to financial scandals (Joshi, 2005).

The interest of the shareholders is to have a high return and security of their investments. It is fundamental for companies to diversify their investment portfolio so as to increase their income and spread the investment risks. I also recommend that the annual audit of the executive and non-executive board members be carried out in order to evaluate their performance. After the audit, an appraisal should be carried out that should be disclosed to the shareholders during the annual general meetings.

Conclusion

As discussed above, corporate governance is a detrimental aspect which companies cannot overlook. Due to the stiff competition in the business arena, it is important for large companies such as Tesco to initiate a positive relationship among the stakeholders in order to remain competitive. Based on the fact that shareholders are the major stakeholders in any public company, it is essential to involve them in any strategy that is undertaken by the company and which may affect the investments of the shareholders. This means that executives should ensure that annual and emergency general meetings are held in order to update the shareholders of the progress of the company. Positive relationships between the employees, shareholders and the managers is very crucial for the progress of any company. It is vital for firms to initiate seminars and forums where employees can freely intermingle with other stakeholders. This will not only motivate the employees but it will also make the stakeholders feel part and parcel of the company.

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