Bill Gates and Oprah Winfrey | Leadership

Bill Gates and Oprah Winfrey | Leadership This report presents a review of leadership theories in brief and the contrast and similarity between Bill Gates and Oprah Winfrey Leadership style; who are two of the well known people in the world. The report begins with an introduction about the two well known faces, Opera Winfrey and Bill Gates who are consider as the successful leaders in the world. The next section would be the biography of Opera and Bill gates in brief. The following section gives a brief review of leadership theories which have been applied in different organizations during these years. Bill Gates and Oprah Winfrey Leadership Qualities which are the main idea of this paper is discussed in the current section and the aim of this section is the better understanding of the importance of leadership quality in a successful business. The next section discuss the similarity and contrast between Bill Gates leadership quality and the leadership quality of Opera Winfrey in terms of leadership theories in general In the current section , my own opinion about Bill Gates and Oprah Winfrey Leadership style would be explained The report conclusion is about he Introduction Welcome to this report which was a glimpse of the Management and Leadership theories and how famous people such as Opera Winfrey and Bill Gates applied them to achieve their success. It draws together a range of materials detailing approaches to leadership and leadership theories. The ability to inspire people to reach great performance and success is a skill that leaders need. Passion, purpose, listening and meaning help make a leader inspirational. The ability to communicate that passion, purpose and meaning to others helps establish the motivating culture of your organization. These points will tell you how to enable inspiration and motivation in the people you lead. In the list of the worlds ranking mega-leaders, there are few women. This is undoubtedly not for any lack of talent or leadership ability among women, but more likely because the step between being a good leader and being a world-renowned mega-leader is quite large, and few women or men, for that matter have been able to pull together all of the abilities and resources necessary to make it happen. In Oprah Winfreys case, however, mega-leadership was achievable, and she has not only achieved it but keeps increasing her leadership base. On the other hand Bill Gates is one of the most successful e ntrepreneurs of the world. He is able to run a successful and a profitable entrepreneurship for many years and even today, we cannot survive in this competitive world without it. Vision and dedication are the key factors of being a successful entrepreneur and these skills were present in Bill Gates from the beginning. Bill Gates Bill Gates was born on October 28, 1955 in a family having rich business, political and community service background. Bill strongly believes in hard work. He believes that if you are intelligent and know how to apply your intelligence, you can achieve anything. From childhood Bill was ambitious, intelligent and competitive. These qualities helped him to attain top position in the profession he chose. In school, he had an excellent record in mathematics and science. Still he was getting very bored in school. Bills parents came to know their sons intelligence and decided to enroll him in a private school, known for its intense academic environment. Bill Gates and his friends were very much interested in computer and formed Programmers Group in late 1968. In the next year, they got their first opportunity in Information Sciences Inc, which they were selected as programmers. ISI (Information Sciences Inc.) agreed to give them royalties whenever it made money from any of the groups progra m. As a result of the business deal signed with Information Sciences Inc., the group also became a legal business. Bill Gates and his close friend Allen started new company of their own, Traf-O-Data. They developed a small computer to measure traffic flow. From this project they earned around $20,000. The era of Traf-O-Data came to an end when Gates left the college. In 1973, he left home for Harvard University. He took the standard freshman courses with the exception of signing up for one of Harvards toughest mathematics courses. He did well over there, but he couldnt find it interesting too. At the end of Bills first year, his best friend Allen, came close to him so that they could follow some of their ideas. That summer they got job in Honeywell. Allen kept on pushing Bill for opening a new software company. Within a year, Bill Gates dropped out from Harvard. Then he formed Microsoft. Microsofts vision is A computer on every desk and Microsoft software on every computer. Bill is a visionary person and works very hard to achieve his vision. ( Ravi Kumar Paluri) Oprah Winfrey Born in Kosciusko, Mississippi, Oprah Winfrey was reared by her grandmother on a farm where she began her broadcasting career by learning to read aloud and perform recitation at the age of three. After suffering abuse and molestation, at the age of 13, she was sent to Nashville to live under her fathers strict discipline As strict as he was, says Oprah, he had some concerns about me making the best of my life, and would not accept anything less than what he thought was my best. Oprah Winfreys broadcasting career began at age 17, when she was hired by WVOL radio in Nashville, and two years later signed on with WTVF-TV in Nashville as a reporter/anchor. She attended Tennessee State University, where she majored in Speech Communications and Performing Arts. In 1976, she moved to Baltimore to join WJZ-TV news as a co-anchor, and in 1978 discovered her talent for hosting talk shows when she became co-host of WJZ-TVs People Are Talking, while continuing to serve as anchor and news reporter. In January 1984, she came to Chicago to host WLS-TVs AM Chicago, a faltering local talk show. In less than a year, she turned AM Chicago into the hottest show in town. The format was soon expanded to one hour, and in September 1985 it was renamed The Oprah Winfrey Show. Seen nationally since September 8, 1986, The Oprah Winfrey Show became the number one talk show in national syndication in less than a year. In June 1987, in its first year of eligibility, The Oprah Winfrey Show received three Daytime Emmy Awards in the categories of Outstanding Host, Outstanding Talk/Service Program and Outstanding Direction. In June 1988, The Oprah Winfrey Show received its second consecutive Daytime Emmy Award as Outstanding Talk/Service Program, and she herself received the International Radio and Television Societys Broadcaster of the Year Award. She was the youngest person and only the fifth woman ever to receive the honor in IRTSs 25-year history. Winfreys business and personal interests are wide ranging and she has managed to accomplish success in several areas. Apart from being a successful Talk show host she is also a producer, successful actress, Founder of the successful O, the Oprah Magazine, co founder of Oxygen Media, and a generous Philanthropist. Her entrepreneurial spirit and desire to change society for the better have brought her and her numerous companies many awards and achievements. Oprah Winfrey was named one of the 100 Most Influential People of the 20th Century by Time magazine, and in 1998 received a Lifetime Achievement Award from the National Academy of Television Arts and Sciences. (Opera Winfrey) REVIEW OF LEADERSHIP THEORY A review of the leadership literature reveals a developing series of schools of thought from Great Man and Trait theories to Transformational leadership (see table). Later theories begin to consider the role of followers and the related nature of leadership, whilst early theories tend to focus upon the characteristics and behaviors of successful leaders. Great Man Theories Based on the belief that leaders are exceptional people, born with inborn qualities, destined to lead. The use of the term man was intentional since until the latter part of the twentieth century leadership was thought of as a concept, which is primarily male, military and Western. This led to the next school of Trait Theories Trait Theories The lists of traits or qualities associated with leadership exist in plenty and continue to be produced. They draw on virtually all the adjectives in the dictionary which describe some positive or worthy human attribute, from ambition to zest for life Behaviorist Theories These concentrate on what leaders actually do rather than on their qualities. Different patterns of behavior are observed and categorized as styles of leadership. This area has probably attracted most attention from practicing managers Situational Leadership This approach sees leadership as specific to the situation in which it is being exercised. For example, whilst some situations may require a domineering style, others may need a more participative approach. It also proposes that there may be differences in required leadership styles at different levels in the same organization Contingency Theory This is an improvement of the situational viewpoint and focuses on identifying the situational variables which best predict the most appropriate or effective leadership style to fit the particular circumstances Transactional Theory This approach emphasizes the importance of the relationship between leader and followers, focusing on the mutual benefits derived from a form of contract through which the leader delivers such things as rewards or recognition in return for the commitment or loyalty of the followers Transformational Theory The central concept here is change and the role of leadership in visualizing and implementing the transformation of organizational performance Bill Gates Leadership Qualities Bill Gates with her vision has a clear, vivid picture of where to go, as well as a firm find on what success looks like and how to achieve it. Jack Welch, former chairman and CEO of General Electric Co., said, Good business leaders create a vision, articulate the vision, passionately own the vision and relentlessly drive it to completion. Bill Gates communicates clearly and passionately and this is one of the most powerful points of this manager. Bill Gates has the discipline to work toward his vision single-mindedly, as well as to direct his manner and those of the team toward the goal. Bill Gates leadership is participative style because he involves his subordinate in decision making. He is a flexible person and he recognized his role was to be visionary of the company. When ever needed he bring professional manager for managing and well structure of the organization. Gates is a strong and energizing person his enthusiasm, hard working nature, judgment skills reflect his personality. His motivating power and involving his friends to working with him became the success of Microsoft. Integrity is the integration of outward actions and inner values (Bergmann, 1999). Bill Gates as a person of integrity is the same on the outside and on the inside. Such an individual can be trusted because he never veers from inner values, even when it might be expeditious to do so. Bill Gates has the trust of followers and therefore must display integrity. Dedication means spending whatever time or energy is necessary to accomplish the task at hand (Bergmann, 1999). Bill Gates inspires dedication by example, doing whatever it takes to complete the next step toward the vision. Magnanimity means giving credit where it is due (Bergmann, 1999). Bill Gates as a leader ensures that credit for successes is spread as widely as possible throughout the company. Conversely, Bill Gates takes personal responsibility for failures. This sort of reverse magnanimity helps other people feel good about them and draws the team closer together. Leaders with humility recognize that they are no better or worse than other members of the team. Bill Gates is not self-effacing but rather tries to elevate everyone.. Mahatma Gandhi is a role model for Indian leaders, and he pursued a follower-centric leadership role. Openness means being able to listen to new ideas, even if they do not conform to the usual way of thinking. Bill Gates is able to suspend judgment while listening to others ideas, as well as accept new ways of doing things that someone else thought of. Openness builds mutual respect and trust between leaders and followers, and it also keeps the team well supplied with new ideas that can further its vision. Creativity is the most important leadership quality of Bill Gates. Bill gates develop computer language new Altair 8080 pc which became the foundation of Microsoft. Bill continuously develops two other computer languages. When IBM develops their first pc and which need operating system to run the computer, Microsoft develops MS-DOS for IBM. Gates adopting the changes very fast that are his enthusiasm vision and hard working give him the success. Gates always recognized him as a visionary he always recognize professional management, he decentralize authority to make organization structure better. Fairness means dealing with others consistently and justly. Bill gates check all the facts and hear everyone out before passing judgment. He avoids leaping to conclusions based on incomplete evidence. When people feel they that are being treated fairly, they reward a leader with loyalty and dedication. Bill gates know how to use humor to energize followers. Humor is a form of power that provides some control over the work environment. One of the most important quality of Bill gates is that he is and supportive. Bill gates always take the blame for a loss, turnover, miss executed play, etc. If the problem wasnt his fault, he wont blame anyone else; he either blames himself, or dont say anything. Bill gates also know how to take charge. When the rest of the team seems confused, he will take control and guide the rest of the members. Bill gates know how to stay calm under pressure. While normal people may crack or feel flustered, he knows how to guide his team to victory and stay cool. He also has confidence in his team members, he has a good communication and, to let his team mates improve themselves. If a mistake is done, he will accept the mistake and take that mistake to improve the team. Oprah Winfrey Leadership Qualities Oprah Winfrey has an exemplary character. One of the important points for leaders is trustworthy to lead others whish she has it. She is enthusiastic about her work or cause and also about her role as leader (Blackler, 2003). It is a fact that people will respond more openly to a person like Oprah Winfrey that has passion and dedication. She has the ability to be able to be a source of inspiration, and be a motivator towards the required action or cause. Although, if we have a comparison between the responsibilities and positions of Oprah Winfrey and Bill Gates we can find many differences, she need to be seen to be part of the team working towards the goal same as Bill Gates. Result of researches shows that in order to lead and set direction a leader needs to appear confident as a person and in the leadership role and she is confident. She has the ability to function in an orderly and purposeful manner in situations of uncertainty. She is tolerant of ambiguity and remains calm, composed and steadfast to the main purpose (Blackler, 2003). Oprah Winfrey as well as keeping the main goal in focus is able to think analytically. Not only does a good leader view a situation as a whole, but is able to break it down into sub parts for closer inspection. She stand up for what is right, even in the face of popular disagreement. She also accepts blame when at fault. The most amazing thing is she has an inward desire that motivates her to excel; she also has the willing to act without orders and to offer well-considered recommendations for the improvement of the command. She is accountable, and that quality forms the cornerstone of leadership. She makes decisions, good or bad, and accepts the responsibility and consequences for those decisions. Compare between Leadership qualities of Gates and Winfrey Oprah Winfrey as a leader is more assertive and persuasive, has a stronger need to get things done and is more willing to take risks than Bill Gates. He remains stymied in the same occupational title and pay level for many years. He become too valuable in his positions in Microsoft .Bill Gates does not have any more strong will to make risk and put his self in dangerous situation. Oprah Winfrey was also found to be more empathetic and flexible, as well as stronger in interpersonal skills that bring the special ability for her to read situations accurately and take information in from all sides same as Bill Gates. Both of them as two of biggest leaders in the world are able to bring others around to their point of view, so that the people they are leading feel more understood, supported and valued. When we have a comparison between these two we can find that both of them have the ability to attract peoples attention and the great ability to digest input of the entire people of the world. Beside of that, they have Keeping people involved on the task at hand and understanding when to push and when not to. Leadership comes in many styles, shapes, and forms. Some people are leaders because they lead by example to better a group of people, and others are leaders because people learn from their decisions and business ideas. As a leader, Bill Gates believed that his managers should have their own personal authority. Indeed, each manager was expected to act like his own little CEO in his own modest right. He desired his managers to be responsible for his own influence on the stream of things and the tides of change. From here, we could tell them Gates also show some form of participative leadership, whereby Gates demand his managers to be creative and able to solve complex problems, and improving their quality. I personally prefer this style of leadership that Gates uses as it seems to be in the middle between not being engaged and over controlling, allowing the organization to be able to innovate and grow. Oprah Winfrey, communicate clearly and honestly to their followers, she use a combination of their personality, beliefs and capabilities to lead. Motivating followers to support and implement her ideas through change is an important part of the way that she uses to influence the peoples of different societies. She wishes inspire trust and confidence in her followers and with strategic thinking and trust building, support and empower her followers to be a catalyst for change. Conclusion As a conclusion, after a review of leadership theories in brief and the contrast and similarity between Bill Gates and Oprah Winfrey Leadership style; who are two of the well known people in the world we can find that there is not one standard, correct style for all leaders in all circumstances at all times and any group or individual behaves differently from each other. Each leader has to find differences and adapt according to the situation but at all they use same ideas in different ways for one target SUCCESS. Magnetic Resonance Imaging: Overview and Applications Magnetic Resonance Imaging: Overview and Applications How does Magnetic Resonance imaging work and how can it influence the future? An Introduction to Magnetic Resonance Imaging[1][2][3]: Magnetic resonance imaging (MRI) is used as an accurate form of disease detection which is usually used to confirm a patients condition, as well as a method of looking at trauma to the brain, examples of which could be bleeding and swelling. Alongside these uses MRI can be used to look at the soft tissues, as well as information on the structure of joints. Prior to the introduction, the only method for diagnosis for many of these problems were invasive methods such as surgery, and x-rays or CT-scans which were less accurate and ionizing, which could have a lasting effect upon the body. The use of MRI scans is only a recent phenomenon, with the first image on a person being produced as late as 1977, by Paul Lauterbur and Sir Peter Mansfield who received a shared Nobel prize for their work on this matter. Both scientists were looking at how nuclear magnetic resonance imaging could be used to look at solids and liquids, and both formed the theory behind it all, but it was Sir Peter Mansfield who developed the method used in MRI by firstly solving how to define a slice of a matter, and also how to produce images from multiple-pulse experiments. Although the work on producing images for biological specimens only came about as a result of the fact that it would be too hard to produce images of a solid. How does Magnetic Resonance Imaging work[4][5]? Magnetic resonance imaging involves a series of steps which are all explained below, in order to produce the final image that is used for diagnostics. Nuclear Spin The body’s mass is approximately 10% hydrogen, of which 70% is contained in water, and due to the fact that protons produce a large signal to a MRI scanner a more accurate image is produced, as they are in such large abundance in the body in the water. The hydrogen nuclei in the body spin about an axis, this is illustrated in figure 1.1. As a result of the spinning protons being charged, the spinning of a nuclei along an axis causes a small circulating electric current, which in turn causes a small magnetic field. If a collection of these nuclei were to be placed in a stronger external magnetic field (BØ), most of the nuclei will align their spin in the same direction as the external field. As you can see from figure 1.2 not all of the hydrogen nuclei are aligned with the direction of the magnetic field, and this is because both alignments are possible, but the one with the field is a lower energy state, whilst the protons against the field are at a higher energy state. The protons are continually oscillating back and forth between the two states, because there is a tendency for nuclei in a high energy state to return to a lower energy state by emitting some of its energy to surrounding nuclei. There is usually enough thermal energy in the material for the nuclei to be flipped back. How do protons precess about an axis?[6] Spinning protons when in the presence of an external magnetic field do not arrange themselves perfectly parallel or anti-parallel to the magnetic field, as the nuclei always have equal but opposite magnetic charges they cancel out when there is no magnetic field. The particles tend to precess about the magnetic field lines, and this is illustrated in figure 1.3. The nuclei complete a full rotation around the magnetic field in a period that is directly proportional to the strength of the external magnetic field. As you can see from the figure 1.4 the period gets smaller for a larger magnetic field and thus the frequency of the precession increases. This frequency is fixed depending upon the strength of the magnetic field, and is called the Larmor frequency and the relationship between them is given by: f = (ω)/ (2Ï€) Where ÃŽ ¥ is a constant called the gyromagnetic frequency, which varies for each type of particle. In MRI the Larmor frequency is about 50 MHz, which is in the radio frequency part of the magnetic frequency spectrum and the magnetic field has a magnitude of 1 or 2 Teslas. Why is the Larmor frequency is of that form? TheLarmor frequencyinMRI is the rate of precession of the magnetic moment of the proton around the external magnetic field. The frequency of precession is related to the strength of the external magnetic field,BØ. TheLarmor precession of nuclei of a substance placed in a magnetic field B0 is calculated from Larmor Equation, the Larmor precession is measured in Radians seconds-1: ω = ÃŽ ³BØ Where ÃŽ ¥ is a constant called the gyromagnetic frequency, which varies for each type of particle, but in the case of MRI is a constant as you are only affecting hydrogen nuclei. As the external magnetic field would be uniform and constant, to work out the Larmor frequency you need to divde the Larmor precession by 2Ï€f. The frequency is measured in Hertz which is s1 and as ω is measured in Radians seconds-1 so to work out the frequency needed you divide this by 2Ï€f which results in the Larmor frequency which is per second. The Net Magnetization Vector The precession of the nuclei only has a small effect upon the total magnetic field, which is only a small increase in magnetic field along the external field axis. This is because there are slightly more nuclei in parallel to the external magnetic field, than nuclei which are anti parallel to the external magnetic field. Although all of the nuclei in the material will be precessing at the Larmor frequency, they all may not be in phase. So the tranverse waves created by the nuclei get cancelled out which means that there will only be a small increase in field strength in the direction of the external field as not all of the nuclei parallel to the external field will get cancelled out. Why do we need superconducting magnets to make the protons resonate? Superconducting magnets are used in magnetic resonance imaging of the human body because magnetic resonance imaging requires extremely uniform fields across the subject and extreme stability over time. By having the magnet coils in the superconducting state helps to achieve parts-per-million spacial uniformity over a space large enough to hold a person, and parts per million hour-1 stability with time. This is the reason for using superconducting magnets alongside the fact that they are able to produce a magnetic field of a magnituted of 1 or 2 Teslas. How to make the protons resonate? In order to produce a magnetic resonance image we need to make the protons precess about the external field lines in phase with each other ; which will produce a small net transverse field which rotates about the axis of the external field at the Larmor frequency. This is the magnetic field that can be detected and in turn produce a magnetic resonance image. These three stages are all depend upon the nuclei precessing in phase with each other, this is done by making them absorb radio-frequency radiation of the same frequency of the Larmor frequency. The absorbtion of the energy causes low-energy state protons to flip into the high-energy state, which means that the protons are anti-parallel to the external field lines and also precessing in phase with the applied signal, which in turn mean that they are in phase with each other. The number of protons that flip depends upon the duration of the radio frequency pulse, which is applied. How a magnetic resonance image is produced: In order for a magnetic resonance image to be produced, you need to be able to locate the part of the body that has an ailment, in order to do this three smaller non uniform magnetic fields are added to the constant field. If you look at figure 1.5 you are able to see how these magnetic fields are applied, with one running the length of the patient’s body, this is the z-axis and this is used to define slices through the body. The body in this diagram is the sample, with the other magnetic fields being applied in the x-axis and y-axis, within the plane of a slice. The magnetic field strength at any point is the sum of the four fields that sets a unique larmour frequency and phase at each point in the body. To actually produce an image a pulse of electromagnetic radiation is sent through the body at a set radio frequency. The protons with a Larmor frequency will absorb energy from the pulse and flip into the higher energy state. As a result a transverse field, which is rotating at the Larmor frequency, is produced for the specific part of the body. As a result of Flemings Left hand rule, the rotating magnetic field that is actually an alternating field induces an electric current in the detector. The image is gradually formed by sending a sequence of radio-frequency pulses through the body at different frequencies to pick out the Larmor frequencies at different locations. The signals produced and the relaxation time involved are processed by computer to assemble the image. How is a clear image is produced on the scan? The relaxation time is the time taken for the protons to fall back down to their lower energy state after the radio-frequency pulse is turned off. The protons fall into their lower energy state by passing their energy on into neighboring atoms. The relaxation time is measured by the change in the intensity of the signal induced in the detector. The relaxation time is used to show the contrast in tissue within an image, with the relaxation time dependent upon the nature of atoms close to the stimulated protons. Thus a clear image of the tissue can be seen. The safety of magnetic resonance imaging scanning: MRI is regarded as one of the safest ways of confirming a diagnosis, although there are some exceptions where a patient has form of metal in their body, which interferes with the powerful superconducting magnets, which allows a magnetic resonance image to be produced. An example of something, which could cause a magnetic resonance image to not work, is tattoos that have metal fragments in the ink that is used to form the image. The metal is dangerous because metal objects can be forcefully drawn to the magnet; if these metal objects are embedded in your body, they can be drawn to the magnet and cause damage.The magnetic resonance image can also be dangerous for pregnant ladies. Using magnetic resonance imaging to detect cancer in the body A future use of MRI is to detect cancer; cancer cells need far more energy than most other types of tissues in the body, so a new technique has just been developed where a patient suspected of having cancer is injected with glucose. This results in a differing brightness on the image produced with the tumor appearing far brighter. Although this is currently only a concept that is still some way from being used on the general public, and this is in part due to the fact that the magnetic field strength used to produce these results is far higher than being used currently and we would need to see if the same results would be produced at a lower field strength. Conclusion In conclusion by taking the simple model already in place MRI has a bright future in diagnosis and detection of diseases, with MRI being the safest form of diagnosis for soft tissue as a result of its non-ionizing nature and clear results that it produces. The future for MRI will become brighter as the cost of using it falls over time, so that it will be more freely available and thus use for mass cancer detection could occur for example. MRI has already had a major impact on practices undertaken by doctors in assessing a patients needs, and the use of MRI stands to continue these changes further as more uses are developed. Bibliography Introduction to MRI: http://www.vistadiagnostics.co.uk/mri_explained.htm http://www.teslasociety.com/mri.htm http://www.nobelprize.org/nobel_prizes/medicine/laureates/2003/mansfield-bio.html How does Magnetic Resonance imaging work? http://science.howstuffworks.com/mri.htm http://www.magnet.fsu.edu/education/tutorials/java/mri/ http://www.ncbi.nlm.nih.gov/pmc/articles/PMC1121941/ Page 504-505 Advancing Physics By Steve Adams and Jonathon Allday The larmor Frequency http://radiopaedia.org/articles/larmor-frequency The safety of MRI scanning http://pain.about.com/od/testingdiagnosis/p/having_an_MRI.htm Using MRI to detect cancer in the body: http://www.medicalnewstoday.com/articles/146309.php Are there any modern alternatives to this technology? http://www.medicinenet.com/mri_scan/page3.htm http://www.nhs.uk/news/2013/07July/Pages/Could-new-tests-use-sugar-to-help-detect-cancer.aspx Gihan Fernando1 [1] http://www.medicinenet.com/mri_scan/article.htm [2] http://www.teslasociety.com/mri.htm [3] http://www.vistadiagnostics.co.uk/mri_explained.htm [4] Advanced Physics by Steve Adams and Jonathon Allday- Page 504, Magnetic Resonance Imaging [5] http://www.simplyphysics.com/page2_1.html [6] http://radiopaedia.org/articles/net-magnitisation-vector

Macro Effects of massive Earthquake

The earthquake also caused a high tsunami which breached the safety of nuclear plants in Fukushima prefecture. What is worse, though, is it caused a partial meltdown, and now Japanese citizens not only suffered by damage of earthquake itself but also the dangerous level of radiation from the plants. On June 10th 2013, a Japanese National Police Agency announced there were 1 5,883 confirmed deaths, 6,145 injured, and 2,671 people missing, as well as 126,458 buildings totally collapsed, with a further 272,191 buildings ‘half collapsed', and another 741,684 buildings partially damaged(â€Å"Countermeasures†).This is the largest economic shock for the Japanese economy since the end of World War II. It may take some time before the full economic impact of the earthquake is known, but we can still look at the scale of earthquake economically by comparing it with the Great Hanshin-AwaJi Earthquake of 19951 in Japan and how it affected on the economy. Thesis: The Earthquake's Im pacts on Economic Flow and Stocks There are two important points to consider concerning the impact of this catastrophe: flow and stock. Flow is economic activities in everyday life, such as spending, production, income, and many other economic rowths.Stock is a concept representing the abundance at some point in time, such as housing, factories, and social capital and so on. The flow of economic activities was damaged by the earthquake and tsunami. First of all, the earthquake and tsunami caused an impediment in physical economic activities such as production and consumption in the disaster area. Next, they cut off the distribution to the disaster area, and the connection between products and point of consumption was no longer smooth. Thirdly, it affected consumers psychologically.Less people spent money for entertainment and leisure, and the economy xperienced a sharp downturn in consumption. At the time of the Great Hanshin- Awaji Earthquake, the consumption and production activit ies fell immediately after the earthquake, but the economy slowly recovered which is mentioned later at the Impact on Japanese Macro Economy. In comparison, the Great East Japan Earthquake and Tsunami is larger than the Great Hanshin-AwaJi Earthquake, and it caused nuclear power plant accident which caused serious radiation problem and the huge power outages.It got goes worse and worse, and it will have a quite long effect on its economy. The earthquake and tsunami also caused a large loss of stocks. Stocks that about 102. 31 billion US dollars. This was equivalent to 0. 8% of the stock of the whole country. Compares to the Great East Japan earthquake and Tsunami, the loss amount is much greater than the scale of the Great Hanshin-AwaJi Earthquake. It caused crucial widespread damage on coastal areas in eastern Japan. Japan Cabinet Office estimated the loss was approximately 173 billion dollars, and it is still not completely determined yet (â€Å"Economic Basic Data†).Impact on Japanese Macro Economy In response to the earthquake, Japan's economy was confused; there was a sharp ecline of production activities, decline of exports, and self-restraint of consumption. Japanese macro economy recorded a big decline after the earthquake. The real GDP growth rate in first quarter of 2011 declined 0. 9%, and second quarter in 2011 for 0. 5% decrease. In the case of the Great Hanshin-AwaJi Earthquake of 1995, on the other hand, there was a slight increase of about 0. 009% in first quarter of 1995.It was backed by strong yen, and the real GDP growth rate had an upward trend until first quarter of 1997. Even Hyogo Prefecture which was worst disaster area, showed a apid recovery as early as the second quarter of 1997. It is back up to 0. 04% growth (â€Å"Economic Basic Date†). If one takes the Japanese economic growth from 1995 into account, the Great East Japan Earthquake was worse than the Great Hanshin-AwaJi Earthquake. Antithesis However, there are some researchers who propose the positive effects from the disaster by economic points of view.The Japanese Society of Psychiatry and Neurology published there is a decline in suicide in disaster area. In Yamagata- prefecture, one of large damaged area from the earthquake had recorded 43 ecreases on suicidal case in 2011. It recorded there were less than 300 cases of suicide in the prefecture since 1998(â€Å"The Decline in Northeastern Japan Suicide Rate after the Earthquake†). In addition, the Ministry of Health, Labour and Welfare also published that the rate of suicide is significantly decreasing nation-wide.It decreased 1039 total suicide cases in 2011(â€Å"Suicide Measures†). It explained suicide rate is strongly linked to economic figures, and there was a Job increase in the waste disposal business and construction industry with the reconstruction budget injection. It will enhance the economy and thus leads to a decrease in the suicide rate. Furthermore, the earthq uake had an effect on the aging population in Japan. To begin with, there was a high rate of elderly population in the area which had devastating damage by the earthquake and tsunami.For instance, there were towns called Otsuchi and Yamada that had over 40% of the population was people over 60 years old, and 30% by elderly people (â€Å"Estimated Future Population of Japanese Municipalities†). Japan has a huge aging problem, and it is estimated that the elderly will make up one third of the Japanese population in 2030. A relatively large number of elderly people were victims of the disaster, and the decrease of the amount of the aging population ease aging problem although it will Just have effect a short term on its demographic figure overall (Kouno).Synthesis Next, I will diagnose the macro-interaction to the earthquake with Japanese disaster mitigation policy. The Japanese government takes mitigation policies to recover the economic crisis caused by The Great East Japan Ea rthquake and Tsunami. First, they put large capital investment in its economy after the disaster. The Central Bank of ncluding quantitative easing and qualitative easing, which aims to break away from deflation. In addition, they claim there is no need to change the targeted inflation rate of 2%, which was the target set before the earthquake.The Central Bank of Japan was also indicated that they will implement Open-End type2 for government bond and eliminate the three years restriction for payback period for its bond (â€Å"Four Major Policy†) Second, the Japanese government tries to break away from deflation and encourage weak yen. In order to stimulate the recovery of production and anufacturing, and to support active economic activity, Japan is resuming the nuclear power plant gradually with new enhanced safety standards.This will be the basis for favorable production conditions in Japan. Japanese Prime minister Shinzo Abe takes a new policy of trade promotion and is tryi ng to enhance the competitive position of Japan's export-driven economy in international markets. A Weak yen is the direct way to enhance the export driven economy though Japanese trade is still in the difficult situation. There is a deterioration of the trade balance, and it has experienced decrease on current account surplus three months in a row.However, because the government sent the clear message of weak yen to the market, Japanese yen becomes cheaper in the past three and a half years. They anticipate the improvement on export. Conclusion In conclusion, the Great East Japan Earthquake and Tsunami wreaked enormous damage on Japanese economy. Even though some positive effects were followed by the disaster as some researchers advocated, they have an insignificant effect on the economy because of its tremendous damages which is considered to be one of the top five largest earthquakes in the world.Because it did not only inflict damages to ives and properties but also caused cruci al damages to major nuclear plant stations, this is the most difficult crisis Japan has ever faced after World War II. From my perspective, Japanese government needs to have a more effective growth strategy to increase productivity since the workforce is decreasing. It needs to enhance efficient flow for workforce and capital. For instance, ease the regulation restriction for the workforce, and encourage the diversification on human resources. It is significant that government help to reform the active business activities for Japanese economy recovery.

Issuing Debt and Bond Valuation Essay

1. Internally generated funds and stock issuances are available for for-profit and internally generated funds, philanthropy, government grants, and sale of real estate are available to not-for-profit health care providers to increase their equity position. 2. The advantages of a taxpaying entity in issuing debt are fixed debt service payments, fixed interest rate, no risk ha investor sells bond back, and no leer of credit needed, while disadvantages are higher issuance expenses, may result in higher interest cost over life of loan, no refunds for bonds, unstable deb service payments, and decline in cash flow if interest rates increase. 3. Debenture is an unsecured bond, which is not backed by specific assets of the organization; so, it carries higher risk with a high interest rate. On the other hand, subordinated debenture is an unsecured bond that is junior to debenture bonds. In a case of default, the bondholders are paid first. 4. An investment banker syndicate a bond issue with other investment bankers to work as an underwriter for private placements to sell to a particular institution or group of institutions (banks, pension funds, or insurance companies). 5. $1,000 zero coupon bond with a 20-year maturity has a market price of $311.80. Rate of return = (1000 / 311.80)^(1/20) = 1.7 1000 / 311.80 tells you how many times the money multiplies over 20 years. 6. A tax-exempt bond was recently issued at an annual 8 percent coupon rate and matures 20 years from today. The par value of the bond is $1,000. 7. If required market rates are 8 percent, the market price of the bond = $80 x PVFA (0.08,20) + $1000 x PVF (0.08, 20) = $80 x 9.8181 + $1000 x 0.2145 = $1000 8. If required market rates fall to 5 percent, the market price of the bond = $80 x (0.08,20) + $1000 x (0.05,20) = $750 9. Charles City Hospital plans on issuing a tax-exempt bond at the bond are $1,000. 10. If required market rates are 6 percent, the value of the bond= 60 x PVFA (0.06,1)+1000 x PVF (0.06,1)= 60 x 0.943 + 1000 x 0.943=$996.4 11. If required market rates fall to 12 percent, the value of the bond=120 x PVFA (0.12,1) + 1000 x PVF (0.12,1) = 120 x 0.892 + 1000 x 0.892 = $ 996.8 12. Since 3 percent, 6 percent, and 12 percent values are lower than $1000. They are sold at a discount. 13. Option#1 Device cost 400,000 Useful value 5 Yearly Depreciation 80,000,00 Interest rate 15% Loan period 5 Loan yearly installments 119,326.22 Option#2 Lease Yearly Payment $80,000.00 Difference between loan & Lease $39,326.22 Tax Saving=Yearly Depreciation X 40% =$32,000.00=$400,000/5 years X Tax % After tax cost of debt $3,539.00 interest component X after tax rate 9% Total saving from option#1 $35,539.00 Option #1 (Borrowing) $83,787.22 Option#2 (Leasing) $80,000.00 Therefore, Mercy medical mega center should lease the surgical device because the total cost will be less than to borrow the money to purchase the device.

Obesity A Global Public Health Concern - 1420 Words

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As healthcare providers in the community we have take it seriously by taking steps that could decrease the expansion of these preventable diseases that are occurring, and all that can be tackle by controlling obesity. As the author Nia Mitchell asserted â€Å"The strongest data on obesity prevalence rates over time in the U.S. come from r esults of the National Health and Nutrition Examination Surveys (NHANES). NHANES periodically collect measured heights and weights in representative samples of the population. The mostShow MoreRelatedBackground and Methodology of the Research Process to Problems in Health Care1003 Words   |  5 PagesResearch Process to Problems in Health Care Childhood Obesity HCS/465 August 2, 2012 Donald Steacy Introduction The purpose of the paper is to show how to develop and understand methodology of the research process when pertaining to health care. 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