International Marketing Essay Example | Topics and Well Written Essays - 1250 words

International Marketing - Essay Example Examples of multinational companies are Wal-Mart Stores, Inc., Toyota Motor Corporation and Procter & Gamble Company (Doole & Lowe, 2008). International Marketing In international marketing, multinational companies may adopt either a global marketing approach or a multi-domestic marketing approach. The global marketing approach involves developing a standardized marketing plan, which is implemented with minimal modifications in both home and all international markets. An advantage of global marketing approach is the economies of scale to production and marketing activities. This standardized strategy cuts costs since it allows large-scale production runs and strengthens the image of the brand. A global marketing strategy can nurture collaborative innovation and can excellently boost sales of goods and services to across markets that have common cultures and languages. This strategy is effective particularly in marketing goods with strong, universal appeal. Global advertising media su ch as international print and broadcasting channels help companies to convey a single message to the international audience (Kaynak, 2002). Cost-effectiveness in the implementation of the global marketing approach is its major but most multinational companies are often faced with the need to segment their international markets and develop marketing strategies that meet the unique needs of the target market in specific countries. Multi-domestic marketing approach takes into consideration the differences between the characteristics of different international markets and develops marketing strategies tailored for each market. Most multi-national companies modify their marketing approaches to successfully appeal to individual target markets in the belief that most goods and services demand multi-domestic marketing approaches to give them an appeal on the global market. Market characteristics such as geography, culture and language make it difficult to employ a single market strategy acr oss different segments of international markets. Nevertheless, some particular situations may let multinational companies standardize some aspects of the marketing strategies but tailor others. Some multi-domestic marketing mix approaches for selecting the most appropriate marketing strategy for a particular international market are product invention, straight extension, dual adaptation, promotion adaptation and product adaptation (Onkvisit & Shaw, 2008). Multinational companies may also choose among countertrade, distribution and distribution strategies. Wal-Mart Stores, Inc. Wal-Mart is one of the largest retail chains globally operating diverse kinds of retail stores. The stores range from neighborhood stores, supercenters, discount stores and online retail stores/clubs. Wal-Mart offers wide-ranging products, goods and services including drugs and pharmaceutical products; fitness and beauty aids; cameras, optical supplies and photograph processing; household goods and chemicals; apparels; clothes and shoes; stationery and books; housewares and furnishings; electronics; appliances; automobile accessories; horticultural products, sporting merchandises; toys; pet food and items (Kaynak, 2002). The neighborhood markets include fresh groceries, meat and dairy products, deli, baked foods, frozen foods, medications, paper goods and general merchandise

Evolution of the Problem Essay Example | Topics and Well Written Essays - 500 words

Evolution of the Problem - Essay Example Due to the specialised nature of their services and the unique administrative framework, we expect substantial variations in the results of such investigations. Primarily, the NHCGL is a military hospital that aims at higher standards of service but not necessarily higher profitability. The administration is naturally not inclined to streamlining the organisation and optimising functionality as long as the services are not visibly affected. As the organisation grows larger it beocmes more and more difficult to alter the existing systems and the urger to continue with the current practices becomes stronger; thwarting efforts of change. The structure of most hospitals evolved as a response to their main function: which is "to cure patients with a great diversity of diseases in an effective way and with a minimum of risk, using most advanced medical techonologies available" (Don and Wolff, 1988). The core activities are performed by highly trained professionals- medical specialists in the case of hospitals. Their activities are highly standardized and they work relatively independetly of their colleagues though in close contact with their patients. This gives the health care organiational structure a certain looseness so that the tasks of the other members are not well defined. This was documented as early as 1988 in a study by Don Wallis and Charles Johannes Wolff. Their study also showed that the differentiation of tasks and the flexibility of rotations were lesser in public hospitals as compared to private hospitals. Hospitals have less formalisation and functional differentiation than industrial firms. In hospit als, the number of different medical specialisations and the differentiation of nursing departments are quite independent of each other. In summary, the existence of various communication related issues have been allowed to exist and even develop in the military

The Private Pension Industry In Ghana Accounting Essay

The Private Pension Industry In Ghana Accounting Essay Ghana, a role model in terms of economic and political stability has recently been upgraded to a middle-income country following years of implementing sound economic policy and stable political environment and with this upgrade comes its own challenges. Ghanas economy is strong and promises generous future growth and the need for a much more comprehensive social security system is understood to be of great importance. In 2004, the government started a journey to reform the social security/ pension system and these reforms created an opportunity for the participation of the private sector in pension delivery. This proposed business plans seeks to establish a trustee company, which will provide pension related products to the formal and informal sectors of the Ghanaian economy who have traditionally been excluded from the national pension system. The private pension industry is a new and virtually untapped industry offering an opportunity to serve a large proportion of Ghanas workforce, as this section of the working class is key in the success of developing a comprehensive pension system. This industry is estimated to be valued at GHS and will insist of 2nd tier and voluntary 3rd Tier pension system. The national pension scheme has seen an average annual increase in contribution of 10%. The target market for the proposed business is a young adult between the ages of 16 and 45 years. The target market will consist of young professionals, self-employed individuals and those who traditionally do not have access to the national pension scheme namely hairdressers, mechanics, etc. With the growing appreciation of securing ones future, the target group demand quick and efficient services, products that meet their existing and future needs and an industry that responds quickly to their needs. Currently, there is no existing service provider in the private pension industry however the life insurance industry is expected to lead the way and be the dominant players in the provision of these services. The proposed business plan seeks to be consumer focus providing excellent customer services, constant customer feedback and innovative and simple product design and use. The competitive advantage of the proposed business include accessibility through the use of a comprehensive distribution network, excellent customer service and product design based on need. The proposed business is a private pension provider rendering trusteeship, custodian and fund management services. The company is a limited liability company with a proposed stated capital of GHS3, 000,000.00. Each of the business owners will raise GHS90, 000.00 each and the difference will be funded using bank credit lines, private investors and asset financing. Undertaking the proposed business plan provides the following findings: Ghanas economy remains positive and stable providing generous growth now and in the future New pension reforms and creation of new industry provides both threats and opportunity Vast untapped informal market available to the new industry Current shortfalls in the national pension will be catered for by private providers Proposed business provides opportunity for development of local capacity in pension design and management With robust regulatory system and effective strategic planning this propose business has a fair chance of succeeding and growing into a very successful business and being part of the development of the private pension industry in Ghana. 1.0 The Introduction Research Background and Motives Over the years concern had been raised about the current state of the Ghanaian social security system which has been characterized by inadequate benefits which is extremely difficult to live on if not mere impossible. As pointed out by the International Social security Association (2003), Social security systems in Africa are characteristically too exclusive and inadequate of which Ghana is not exception. Like other social security systems in Africa, Ghanas social security system covers only the formal workforce, which constitutes a small fraction, usually no more than 20% of the total labor force. This inherent characteristic of the social security system makes social security exclusive, as those outside the formal sectors do not have access to social security or a national pension. Furthermore due to the relatively small number of contributors to the national social security scheme, benefits under the social security scheme is inadequate. Ghana like many other African countries has institutions, laws and government structures that were adopted from their colonial masters without much modifications and thought. The institutional structures were most often designed to meet the goals and objectives of the colonial masters who at that time were the elite. One may wonder why social security systems that are meant to provide protection for all in society tends to cover only a small fraction of society. The international social security association points out that, most social security systems like many other things were adopted from the colonial masters. These social security systems were really intended to cover a small body of employees who were at the time working in the colonial administration and mine workers. This meant that all others outside this scope fell outside the social security system. This inherently remained, as most countries even after independence were unable to devise social protection programs that were tailored to the needs and circumstances of the people. Based on the background above, I am motivated through this business proposal to highlight the importance of the development of a much-needed private pensions scheme to augment the existing national social security system and also to provide those who are outside the national social security system an avenue to secure their futures and have enough to live on when they retire. 1.2 The Motives The motive for undertaking this business proposal is to bridge the gap created by the current social security structure, which excludes those within the informal sector of the Ghanaian economy. Secondly, private pension plans will also provide extra revenue to those who have retired as the current benefits under the national plan is woefully inadequate. At the end of this start up business proposal I hope to be able to: Understand current economic and business environment in Ghana Understand the structure of Ghanas social security system To analyze current regulatory framework in place and its likely impact on the operations of the start up To analyze the development of the chosen market and industry To determine the essential inputs for the start-up and future development plans To analyze any academic theory on successful business start-ups 1.3 The Objective The main objective of this business plan dissertation is to: Identify if any, opportunities and challenges for a private pensions company in Ghana With the opportunities I have identified and challenges write a start up business plan for a private pension company in Ghana Provide information on procedure to follow when setting up a company in Ghana In this write up the main focus will be on the company operating in one specific area of pensions which is the tier three of the pensions act. Long-term strategies may see the company evolve to extend other pensions/ savings products. 1.4 Research Methodology The aim of this write up is to put together a business plan for a start up private pension company in Ghana based on sound research on the subject matter of private pensions in the chosen market and academic theory on the principles entrepreneurship and business management. The research therefore will mainly be based on secondary data from credible governmental resources and non-governmental agencies. I will also make use of academic articles, journals and industry reports. 1.5 Structure The write up will be split into five (5) chapters with details of each chapter as follows: Chapter 1: The first chapter will have the introduction, which contains the background, the motives and objective, brief research methodology, structure of the write up and a comparative analysis of social security systems in the developed and underdeveloped worlds. Chapter 2: Economic Overview of chosen market, history and importance of social security in chosen market, overview of the social security system now and then, social security structure, and challenges facing the national social security system Chapter 3: Description of the business idea, marketing plan/strategy, pricing, mission and vision, Human Resources. Chapter 4: Chapter four will be the financial plan. In this section will include financial assumptions and financial projections for the next five years. Chapter 5: The conclusion, this section will contain exit strategies and also discuss any immediate or future impact of the proposed business on the Ghanaian economy. This section will also summarize key success factors of the proposed business. Chapter 2 Introduction Under this chapter I will look at the economic overview, economic performance and outlook of the chosen market for the proposed business, I will then go further to look at the development of social security/ pensions in Ghana, and then look at the overview of the social security system of the chosen market, Ghana. As earlier stated under my aims for this project, I seek to provide some insight as to what it takes to start a business in Ghana, therefore under this section I will also provide information or insight in relation to what procedures needed to follow when setting up a business in Ghana. 2.0. Economic Overview of Ghana The Republic of Ghana is a West African country with land area of 92,100 square miles, which is boarded by Cote DIvoire, Burkina Faso, Togo and Gulf of Guinea. Ghana has always been known as a country of great natural resources, hence the nickname, The Gold Coast. Ghana is rich in gold, timber, diamond and cocoa and has an economy that is heavily dependent on agriculture. Ghana remains one of the leading producers of Gold and Cocoa in the world. Agriculture in Ghana accounts for 37% of GDP and employs an estimated 55% of the national workforce. It must however be noted that agriculture is still largely small scale, non- commercial and not mechanized. Ghanas economy is one of the most stable and fast growing economies in Africa and has achieved impressive growth as a result of the discovery of oil and natural gases. With such impressive growth and relative stability in the macro-economic indicators, Ghana attained a lower middle-income economy status according to the World Bank, however youth unemployment and poverty continues to be a major issue. 25% of Ghanas youth are unemployed and 37% of the population currently lives on less than $1.25 a day. Despite a 14.4 % growth in Ghanas economy in 2001 according to the World Bank, Ghanas external debt over the last 3 years has increased by 125% from $8 billion in 2008 to $18 billion in 2011. In terms of investment, Ghana has Africas 3rd largest stock exchange with South Africa and Nigeria ahead of Ghana respectively. 2.1 Economic Performance and Outlook Ghanas economic performance over the last decade has been impressive. GDP average annual growth rate was 6% between 2005 and 2007, increased to 7.3% in 2008 but however declined to 3.9% in 2009 on the back of the global financial and economic crisis. Inflation increased by 41.7% from 12.7% in 2007 to 18.1% in 2008 however due to effective economic policies and austerity measures inflation for the last 3 years has steadily falling to its current rate of 9% as at 2011 for the last 9 months since. Increase in non-oil imports and income outflows widened Ghanas current account deficit by some 38% at the end of 2011. Despite these challenges, Ghanas economy has outgrown the global economy for the past 4 years. Whilst the global economy grew at an annual average rate of 3%, Ghanas annual average growth rate has been 6.5%. The adoption of austerity measures to cut public spending and the stability of macroeconomic indicators have helped Ghana survive probably the worst part of the global economic meltdown and it remains one of the most promising economies in Africa. Based on the indicators above on the economic health of the country, Ghanas medium-term growth remains positive, largely driven by investments in the mining industries, public infrastructure and commercial agriculture according to the World Bank. 2.2 Development of Pensions Scheme in Ghana Pension systems in Ghana date as far back as the colonial era. The first kind of pension system was introduced in Ghana in 1946. The pension system was a non-contributory pensions scheme and its aim was to cater to the retirement benefits of those who worked within the colonial administration and also included mine workers. Kpessa (2010) noted that Ghanas social security system at the time was designed, as a means of encouraging loyalty and efficiency within the colonial service as a result was quite exclusive. Like most programs introduced during this era, old age income protection policies were limited to urban dwellers especially Europeans and a few Africans working in the colonial bureaucracy. It was not until 1950, the Pension Ordinance No.42 (Cap 30) and Superannuation schemes was established in an effort to have a social security system in place that covered a greater portion of Ghanaian workers. It was established as a pension scheme for public servants in the Gold Coast. These schemes covered certified teachers, University lecturers and all government workers however a vast majority of Ghanaians were unable to benefit from this scheme (Adjei, 2000). In 1965, the Social Security Act (No. 279) was passed to cover all private and public sector workers who were not covered under the Pensions Ordinance No.42. The scheme initially started as a provident fund, providing benefit for old age, invalidity and survivor benefit. This Act was repealed and the social security and national insurance act (SSNIT) was established under NRCD 127. The trust was established to administer the new social security scheme. The scheme was later converted to a social security pensions scheme and in 1991 turned into a defined benefit scheme following the enactment of the Social Security Act 1991 bringing some level of adequacy into workers pensions. For a worker to qualify for old age benefit, the worker must have worked for a minimum of 240 months and be at least 60 years of age. Workers in the extractive industries such as mining however have a mandatory retirement age of 58 years under which they qualify for old age benefits. For workers who have been injured at work, they may qualify for payment under the invalidity benefit section of the social security system. Benefit is payable over a period of 12 months. If a retiree dies before reaching the retirement age his or her benefit is calculated as the present value of all contributions and paid to the surviving spouse or dependents. The Social Security and National Insurance Trust (SSNIT) has four major functions: Collection of contributions Record keeping keeping up to date records of all contributing members Processing and payment of benefits Pensions fund management 2.3 Overview of Social Security/ Pensions in Ghana A universal social security/ pensions scheme in Ghana has not been in existence for so long having been established in the 1990s; earlier forms of social security were exclusive. The Social Security Pensions Scheme (SSPS) was established in 1991 under the Social Security Law PNDCL 247 and under the trusteeship of the social security and national insurance trust (SSNIT). Twenty-five years prior to this, Ghana run a provident scheme established under the social security act of 1965 (Act 279). Under the 1991 scheme, the Social Security and National Insurance Trust collected the contributions of the Ghanaian worker. The Act provided for compulsory coverage for workers in establishments that employ at least five workers. An establishment with less than five employees had the option to join the scheme, but there was no compulsion (Kumado Gockel, 2003). However, the following categories of workers, although they employed more than five persons, were exempt by law from joining the scheme; members of the Armed Forces, the Police Service and the Prison Service; Foreigners in the diplomatic missions; and Senior members of the universities and research institutions. Funding of defined contribution schemes is based on contributions made by the employer and the employee on behalf on the employee. These contributions are invested and when the employee reaches retirement age, becomes permanently incapacitated or dies prior to retirement; the total contributions together with returns on the investment are paid as a lump sum to the employee or his/her dependents (Kpessa, 2010) Under the scheme the Ghanaian workers total contribution constitutes a total of 17.5% of his salary to the scheme towards his pension and the contribution structure is designed as follows: Employees 5% of employees salary Employer 12.5% of employees salary Total Contribution 17.5% of employees pay Under Ghanas pension scheme there are three basic benefits, which include Old Age Pension, Invalidity Pension and Death Survivor Payment. Pension benefits in Ghana are indexed annually using the average rate of increase in the contributions inflow from the previous year. This is done to prevent any distortions in the financial equilibrium of the scheme. In order to qualify for benefits under the pensions scheme one must meet the eligibility requirement and amounts payable under each section are as follows according to the Social Security and National insurance Trust: Old Age Benefit To qualify for old age full pension payment, a worker should have contributed to the scheme for a minimum of 240 months, which is equivalent to 20 years, and should have attained either the voluntary retirement age of 55 or compulsory retiring age of 60. The law applies differently to persons who have worked in hazardous conditions such as the mines. Such categories of workers under the law qualifies for a full pension at the age of 55 provided the worker has been engaged in such work for 240 months or more. The minimum pension payable is 50% of the average of the 3 best years salary for a minimum contribution period of 240 months. For any additional month served after the 240 months, a worker earns a pension right of 0.125%, i.e. 1.5% for every 12 months in addition to the 50% start off. Thus, a worker can theoretically earn up to 80% pension when he shall have worked and contributed to the scheme for 40 years. As earlier mentioned, workers who opt for early retirement at age 55 or retire anytime before they are 60 years are entitled to a reduced pension. Benefit due is calculated on an increasing scale from the age of 55 years, meaning that those who retire closer to the statutory retirement age receive a higher percentage of their full pension than those who dont. Percentages of full benefit due are as follows: Age 55, 60% of full pension; 56, 67.5% of full pension; 57, 75.0% of full pension; 58, 82.5% of full pension; 59, 90.0% of full pension. Pensions are paid monthly, however retirees have an option of receiving payment in advance equivalent to 25% of 12 years pension as a lump sum and subsequently be on a reduced pension. If a worker before attaining the age of 60 is unable to have contributed the minimum 240 months to the scheme he is entitled to receive all his actual contributions plus interest at half the prevailing interest rate on government treasury bills. DEATH/ SURVIVORS With regard to survivors benefit, if a contributor dies while still a member, his dependents qualify for a lump sum of the earned pension. When a member contributes to the Fund for 240 months before dying, a lump sum equal to the value of his pension for 12 years shall be paid to his survivors. If a member dies without having contributed to the fund for 240 months, the payment to his survivors will be his proportional pension for a period of twelve years. Where a member who has retired dies before he is 72, his survivors will be paid in lump sum the unexpired pension up to age 72. INVALIDITY PENSION To qualify for invalidity pension, a member shall have contributed to the Fund for 12 months within the last 36 months before becoming invalid. In addition, the member should have been certified permanently invalid and incapable of gainful employment by a medical board including 2.4 Parallel Pensions Scheme One may be tempted to think that the pensions scheme being administered by the Social security and national insurance trust covers all workers in Ghana, however as indicated above some sections of the working public are exempt from the national pension scheme. This is because such workers are covered under a different pensions scheme with pre-dates the national pensions scheme. The scheme, which is affectionately, called CAP 30 (name derived from Chapter 30 of the Pension Ordinance of 1946) provides pensions for Civil Servants and the Armed Forces and some teachers. Today there are still members of these working sectors who are covered under CAP 30. Such members contribute 5% of their pre-tax salary, which is nevertheless not saved but recycled into the Consolidated Fund. However, it is still a non-contributory plan for the armed forces, the police, and the prisons services. These employees take home all of their earnings; no deductions for pension coverage. This aside there are other features of the CAP 30 that offers superior value as compared to the Social Security and National Insurance Trust including: 10 years for full retirement vs. 20 at SSNIT; 70% of final salary compared to 50% of average of three highest years salary at SSNIT CAP 30 pension payments are indexed annually to current salary scales Ghanas social security system lacks cohesion as evidenced in the disparities that exists under the SSNIT and CAP 30 an there is an urgent need for the harmonization of the social security system in Ghana by replacing the current systems with a comprehensive all inclusive system 2.4 Pensions Reform in Ghana and overview of National Pensions Act 2008 Over the years concerns have been raised about the disparities and seemingly greater benefit under the CAP 30 as compared to the Social Security and National Insurance Trust (SSNIT) pensions scheme. Public sector workers further agitated over the inadequacies of the current social security benefits and its inability to sustain a respectable life during retirement. Furthermore, the current social security system has failed to include those in the informal sector who constitute about 80 percent of the working force. The road to social security reform in Ghana began in July 2004, to provide a universal pension scheme for all Ghanaian workers following the agitations described above which lead to the drafting and passing of the National Pensions Act 2008. The Act is divided into four parts; the first part talks about the establishment of a National Pensions Regulatory Authority that will be responsible for the regulation of pensions schemes in Ghana as well as a three-tier contributory pensions scheme. The second part deals with the basic national social security scheme; Part Three provides for occupational pension schemes, provident fund and personal pension schemes and management of the schemes and finally the general provisions of the Act is contained in part four. According to the Social Security and National Insurance Trust, under the new Pensions Act 2008, there is a three tier contributory scheme, which replaces the current Social Security Pensions Scheme and CAP 30. Under the new scheme a total contributory amount of 18.5% of a workers monthly salary will be paid towards their pension and this is distributed between the first two tiers. The first two tiers are mandatory and the third tier is voluntary. Below are the features of each tier: First Tier The first tier is the basic national social security scheme, which incorporates an improved system of SSNIT benefits. This tier is mandatory for all employees in both the private and public sectors. The mandatory basic national social security scheme is to be managed by SSNIT. Contribution to the first tier will be 13.5% of an employees monthly salary. Whilst this tier is mandatory for all employees in the public and private sectors, self-employed members of the working class have an option to join the scheme and are under no obligation to do so. Of the 13.5%, 2.5% will be deducted and transferred to NHIF. Benefit due under this tier will be calculated using the average of the highest 3 annual salaries ÃÆ'- 50% +1.5% of every additional 12 months contributed. A contributor under the first tier cannot be less than the age of 15 and not older than the age of 45 years when joining the scheme. Second Tier The second tier is occupational (or work-based) pension scheme and it is a mandatory scheme for all employees, however this tier will be privately managed. This tier was designed primarily to give contributors higher lump sum benefits compared to what is presently available under the SSNIT or Cap 30 pension schemes. A total of 5% of an employees monthly salary shall be allocated to the second tier provided the employee falls within the age limit stipulated under the first tier. If the worker however, falls outside the stated age limit, all of the 18.5% contribution shall be transferred to the second tier. The voluntarily provident fund and personal pension schemes are to be managed by approved trustees, licensed by a National Pensions Regulatory Authority and pension fund managers and custodians, licensed by the Security and Exchange Commission and registered with the Authority. Under this tier a defined benefit is payable to a retiree, spouse or dependent after termination of service, retirement or death. Third Tier The third tier is a voluntary provident fund and personal pension schemes, which provides tax benefit incentives for workers who opt for this scheme in addition to the first two. As earlier mentioned, the previous pensions scheme was relatively exclusive and did not provide cover for 80% of Ghanas working population. The introduction of the third tier is an effort to address the issues concerning the old pensions system, which by design excluded those in the informal sector and did not provide avenue for the citizenry to arrange their personal pensions in addition to the state pension. The aim of the third tier therefore I believe, was to provide those in the informal sector to have their future secured by contributing to a private scheme and also provide those already covered under the national scheme to augment their existing benefits should it still be seen as inadequate. This tier is fully funded and is also privately managed by licensed trustees that will want to provide private pension schemes. 2.5 Governance A National Pensions Regulatory Authority (the Authority) has been established to regulate both public and private pension schemes in the country. The Authority will approve, regulate and monitor Trustees, Pension Fund Managers, Custodians and other institutions relating to pension matters. To ensure that contributors interests are adequately protected, the National Pension Act has in-built safeguards. These include stringent approval and registration criteria by the Pensions Regulatory Authority; separation of functions of Trustees, Fund managers and Custodians; on going monitoring among several others. Trustees licensed by the Authority would be required to take out adequate insurance to indemnify scheme members against any losses of scheme assets caused by malfeasance or misconduct of the trustees or their service providers. Among other impacts, the new scheme will ensure improved living standards of the elderly; financial autonomy and independence of retirees; increased national savings and availability of long-term funds for economic development; and the Promotion of growth and development of the capital, mortgage and insurance markets. CHAPTER 3 THE BUSINESS IDEA AND PLAN 3.1 Background In 2004, the government of Ghana started the process of reforming Ghanas pensions system and in 2008 passed the National Pensions Act 2008, which saw the birth of a new pensions system in Ghana, the establishment of a new pensions regulatory body and most importantly the participation of the private sector in the delivery of social security in Ghana. The opportunity presented through the National Pensions Act 2008, is what has motivated me to write this business proposal for the establishment of a pensions trust in Ghana to participate in the third tier of Ghanas pensions System. The new pension scheme will comprise two mandatory schemes and a voluntary scheme as follows: First tier which is a mandatory basic national social security scheme will be managed by the Social Security and National Insurance Trust (SSNIT) Second tier occupational (or work-based) pension scheme will also be mandatory for all employees but privately managed by approved and licensed trustees Third tier voluntary provident fund and personal pension schemes, supported by tax benefit incentives to provide additional funds for workers in both the formal and informal sectors who want to make voluntary contributions to augment their state pensions benefit. The Second tier and the voluntary third tier will be privately managed by approved trustees licensed by the Pensions Regulatory Authority with the assistance of pension fund managers and custodians registered by the Authority. It is within the third tier that a business opportunity exists for the establishment of a trustee company that will provide pension products to individuals and organizations in Ghana. 3.2 Benefits of the New Pensions Scheme The new pension scheme offers a number of benefits above the old system. According to the Social Security and National Insurance Trust (SSNIT), workers within the formal and informal sectors stand to benefit from the following under the new pensions scheme: Provision of Superannuation: Reduction of contribution period from 240 months to 180 months Full benefit increased from 50% of the average of the highest three years earnings to 80% Provision of healthcare premium for all contributors to social security pensions scheme Occupational Scheme: provides lump sum benefits to contributors after attaining the age of 50 years. Survivors benefit calculations increased from 12 to 15 years Using lump sum benefits under the second tier to secure mortgages meaning workers can obtain their own houses by using their lump sum benefit as collateral Better controls over personal pensions under the second and third tier

Artificial Intelligence :: Technology Robots Essays

Artificial Intelligence Artificial Intelligence is a key component to the vision for human-centric computing. Within the wide arena of artificial intelligence, expert systems could become useful for completing specific complex tasks. AI will remain valuable regardless of whether we're able to build fully- functioning robots or human-esque brains. AI, the harnessing of intelligence on the computer, will turn complex thought processes into fast computer simulations; it will be used to analyze past events and predict the future. "The ability of these systems to explain the reasoning process through back-traces and to handle levels of confidence and uncertainty provides an additional feature that conventional programming can't handle." (PC AI) The possibilities are endless. Vision The vision of expert systems is straight forward: to replace complex human thought processes and tasks with computer programs using Artificial Intelligence. For example, create a "stock broker" program to analyze stock prospects. Or create a program to make a decision on whether or not to hire somebody. The fun doesn't stop there: many complex tasks can be done by computers using Expert Systems. This is done by emulating human logic on a machine. For example, an expert system for die polishing was developed: "Several studies on the decision making for polishing sequence and conditions using an expert system in the polishing process have been reported." (Ahn) Also, "Tricks from neural networks and expert systems are used in a smart-vision engine called AIMS-an automatic inspection and management system for finished printed-circuit boards, specifically printed-wiring assembly and high-density interconnect." (Johnson) In the overall vision of human-centric computing, this means that peo ple will one day be able to go to their computers, and not only have the interface of the machine built around them, but the machine will be able to be an "expert" in any number of areas; allowing them to perform complex analysis on data or perhap! s aid them in the creation of any number of things. Objective As the speed of computers increases, and the complexity of AI routines increases, the computer industry should be able to create software applications that replace many of the complex human thought processes. The computer industry should be able to economically create systems to do such tasks as analyze data, create data to meet your needs, and more. This should increase the productivity of the World's work force by greatly. This is the ultimate in human-centric computing applications; with this technology, our most complex work will be done easily on the computer.

A Comparison between Disney Movie Pocahontas

the Disney movie called Pocahontas and the History of Virginia, a narrative by John Smith, very different from each other. They are still based off of a similar place and time in history, which causes them to have certain similarities. The most easily recognized similarity is of that John Smith is in both the movie and narrative. The most noticeable difference is that in the book is that the Native Americans can speak English. Also another difference is that the men in the colony have come for gold rather than a new life like they did in the journal.These are some of the many differences between the movie Pocahontas and the journal by John Smith. In both the book and movie there is a man by the name of John Smith. This man is a renowned and respected member throughout the colony in both of these stories. In the movie the man falls in love with a Native American woman called Pocahontas (who is briefly mentioned in the book). But like he is in the book also captured by the Native Ameri cans but unlike the book the Native Americans believe he killed a man in their tribe.But like the book he is captured by the Native Americans and taken too their tribe, but for different reasons in both stories. In the movie John is a well-known frontiersman who fought the Native Americans. But in the book they really don’t say. The most noticeable difference in the move is the fact that the Native Americans not only speak English but act like it’s their foremost language. And in the narrative the Indians do not speak English but rather they have their own.But of course they have to do this in the movie because not many people in America speak Native American and for this reason Disney had them speak English. A second difference is the reason the people came to the America’s. In the movie’s opening they strongly point out that they have come for gold which the Spanish have received from their colonies in the Americas. But in the narrative the people have come to start a new life in the America’s, not for gold which the Governor in the movie is obsessed with finding.In the movie’s begging the men on the boat sing a song about going too America for God, gold, and the Virginia Company. But in the book the main reason they have come to the new land for a new life, a fresh start you could say. These are some of the similarities and differences between the book and Movie. The single similarity chosen was John Smith. The two differences that I chose were the reason the pilgrims came to the Americas and the fact that the Native Americans.

Similarities and Differences Between Jainism and Buddhism

Both Buddhism and Jainism. have many similarities and dissimilarities. As remarked be Monier Williams. â€Å"Buddhism and Jainism were not related to each other as parent or child but rather children of common parent, born at different intervals, though at about the same period of time and marked by distinct characteristics, though possession a strong family of resemblances†. W. W. Hunter writes â€Å"Jainism is as much independent from other sects, specially from Buddhism as can be expected, from any other sect. Not withstanding certain similarities, it differ from Buddhism in its ritual and objects of workship. Similarities : (1) The source of both the religion is vedic religion and both and indebted to Upanishads (2) Both Gautam Buddha and Mahavir belonged to princely families and not to priestly families. (3) Both deny the existence of God. (4) Both denied the authority of the Vedas and the necessity of performing sacrifices and rituals. (5) Both have accepted the theorie s of Karma rebirth and Moksha. (6) Both taught in the language of the common people i. e. Prakrit and not in Sanskrit which was the language of the priests. (7) Both of them were opposed to animal sacrifices. 8) Both of them admitted disciples from all the castes and from both sexes. (9) Ahimsa is the prominent principle of both the religions. (10) Both Buddhism and Jainism put stress on right conduct and right knowledge and not on religious ceremonial and ritual as the way to obtain salvation. (11) Both, the religions came as a sort of reform of Hindu religion. (12) Both the Religions were later on divided into two sects. Buddhism was divided into Mahayana and Hinayana. Jainism was divided into Svetambara and Digambara. (13) Both had their own three gems or ‘Tri Ratna'.Tri Ratna of Jainism were right philosophy right knowledge and right character. The Tri-Ratna of Buddhism were Budhha, Dhamma and Sangha. (14) Both had three main religious texts. Tripitaka, i. e. Vinaypitak, S uttapitaka and Abidhamma pitak were the three religious texts of Buddhism, where as Anga i. e, Anga, Upanga and Mulgrajitha were those of the Jainism. Dis-similarities : (1) Difference regarding conception Moksha : According to Buddhism, a man attains Moksha when he ends all the desires and can attain it while living in the world. But according, to Jainism Moksha is freedom from miseries and can be attained only after death. 2) Means of attainment of Moksha: According to Buddhist Sangha is proper for attainment of Moksha and they hate self-mortifications and severe penances. Jainism believes in fasts and severest penances. (3) Ahimsa : Though both emphasise the principle of Ahimsa, yet Jainism is more strict in this connection. (4) Soul: Buddhists do not believe in the existence of soul whereas Jainism believes the existence of soul in every living being. (5) Regarding Conduct: Buddhism emphasises the eight noble piths whereas Jainism emphasises Tri Ratna. (6) Language of Religious texts :Most of the Jain texts are in Sanskrit and Prakrit whereas Buddhist text are in Pali. (7)Their connection with Hinduism : Jain religion is nearer to Hinduism whereas Buddhism followed the policy of keeping away from Hinduism. (8) Caste system : Jains opposed it but Buddhism opposed and attacked vehemently. (9) Royal support and patronage : Buddhism received the royal support and patronage of kings like Ashoka and Kanishka. But Jainism could never receive strong royal support and Patronage. (10) Propagation : Buddhism spread to foreign countries whereas Jainism did not travel outside the boundaries of India.

Integrating the understanding of theory, practice, and values The WritePass Journal

Integrating the understanding of theory, practice, and values Introduction Integrating the understanding of theory, practice, and values ) Multiple and conflicted loyalties of social workers – social workers are often in the middle of conflicting interests Duality of roles as helpers and controllers – social workers function as both helpers and controllers Institutional framework mandating the actions of social workers – refers to the conflicts between the duty of social workers to protect the interests of service users with whom they work against the societal demands for efficiency and utility Limited or lack of resources As such, there is a need to renew the sense of ethical awareness among social work professionals in order to encourage them to reflect on these challenges and to come up with ethically informed decisions. Examining the Complexities of Social Work Practice Social work requires the social work professional be adequately able respond to complex situations that reflect both public issues and private pain. Social work essentially involves taking on a ‘mediating role between the individual and society’ (Oko 2011, p.4). Social workers are mandated by the state to intervene with individuals, groups or communities in order to effect change. Additionally, social work practitioners seek to balance individual self-interest with social responsibility, while at the same time working within the legislative and policy frameworks (Dominelli 2009). All these contribute to the complexities of social work practice. There are many instances wherein the social worker is torn between the desire to help the service user versus adhering to the rules and regulations set by the state. In other scenarios, the social worker may have the legal mandate to aid a service user; however, the lack of funding, support, tools or human resources limits what he/she can do. The harsh reality being that not all service users who need help are being provided for. Social work encompasses a vast array of sub-fields such as education, child care, women’s rights, poverty, etc. and involves many kinds of expertise for example advocacy, forensic social work, counselling, etc. Moreover, social work involves a myriad of job functions and performing a wide range of interventions, e.g. case management, administration, training, etc. (Dominelli 2009). This is another source of complexity for social work practice. The social work practitioner is faced with the challenge of whether to engage in a particular field of expertise or to take on a more generalist role. The social work profession has multiple accountabilities – to employers (e.g. state agencies, private institutions), service users, policymakers, professionals in related disciplines (e.g. medicine, psychiatry, psychology and law), and the public. Donnelli (2009) aptly summarizes some of the complexities of social work, which are greatly changing the social work practice and the roles of social workers. This only serves to complicate matters and places a greater burden on social work professionals. ‘Social work is a constantly changing profession whose role and purpose in society is often disputed and subjected to professional and governmental regulations. Its constantly fragmenting boundaries and changing nature enable social work activities to be appropriated by other professionals: for example, the completion of risk assessments in child abuse cases by child psychologists and the opening up of mental health work formerly undertaken by approved social workers to any professional without a social work degree†¦Social work is constantly being restructured by the state and emerging in different forms, while retaining its core tasks of caring for people and regulating behaviour’ (p.15).  Ã‚  Ã‚  Ã‚   A study conducted by the Social Work Task Force (2009) reveals other complex issues that are being encountered by social work practitioners in England. The findings from the study show that social workers have several key issues, which they feel are complicating and negatively affecting their work. These are as follows: (Social Work Task Force 2009, p.6) Social workers feel that they do not have sufficient time to dedicate to the people they want to help. They feel strained by staff scarcity and limited by bureaucracy. Social workers feel very frustrated by some of the tools and support that are given to them to do their jobs. The support and tools are either lacking or inadequate. New social workers are usually unprepared for the demands of the job. Additionally, the education system does not effectively support ongoing development and specialisation for social work students. Social workers feel that their profession does not have a strong national voice and that they are not well-supported at the national level. Systems for managing the performance of social work practitioners are not driving and improving quality. Social workers feel that their profession is underrated, highly misunderstood, and under constant media attack. This makes it difficult for them to do their jobs and to attract people into the profession. Despite some efforts by the government, these issues continue to be a major concern for the social work arena. These issues are complex and require extensive effort not only from the state and social work practitioners; it also involves a paradigm shift and the re-framing of social work practice to change public and media perceptions. Critical Social Work and Advocacy Nzira Williams (2009, p.29) defines advocacy as ‘the representation of a need or an idea, either by a person or group on behalf of themselves, or by someone or an organisation on behalf of another person or group.’ Advocacy is usually associated with political action because it often involves asking for greater influence in decision making. However, advocacy also encompasses other actions, for instance, helping people to assimilate and participate in the community. Advocacy is also often used as a vehicle in helping to recognise injustices so that people can become more involved and respected. Moreover, advocacy helps to find remedies for the oppressed. As such, the role of social work practitioners usually involves an element of advocacy. One of the primary aims of social work ‘is to promote social justice in practice and policy’ (Dalrymple Burke 2006, p.17). As such, advocacy fits right into this framework and has occupied a large role in its approach. Indeed, social work has a long tradition of advocacy and social action, which leads to social reform (Hepworth et al 2010). Marrying the two together, social work advocacy, from the perspective of critical social work, can be defined as the ‘exclusive and mutual representation of a client(s) or cause in a forum, attempting to systematically influence decision making in an unfair and unresponsive system’ (Hepworth et al 2010, p.430). As such, social work advocacy involves persuading decision makers to take a particular course of action. From a critical perspective, social work advocacy is not merely representing the case in behalf of the client, but also to make sure that the client’s voice is heard. The goal of advocacy is not simply to represent the views of another but also to mobilise and enable the person to speak themselves (Wilks 2012 ). In social work advocacy, a case advocate is one who is working on behalf of a service user to ensure that they receive the benefits and services to which they are entitled to, while at the same time safeguarding their dignity (Hepworth et al 2010). The intent and outcome of advocacy should be: (a) to boost the individual’s sense of power; (b) help the person to be more confident; and (c) to encourage the individual to be more assertive and expand his/her choices (Wilks 2012). One of the main principles of anti-oppressive practice is the belief that social work has the capability to empower the individual and to change power relationships between individuals, communities, and society through the adoption of approaches that are sensitive to the impacts of difference. Advocacy’s links with empowerment may provide an approach to social work practice that is consistent with the aims of the anti-oppressive perspective (Wilks 2012). Social work’s core value and principle is the dignity and worth of the individual. This understandably leads social workers into advocacy efforts, as they work with oppressed sectors in order to reform power structures so that all are represented and have a share in the welfare of society (Pearson Higher Education 2012). There are various types of advocacy with their own strengths and limitations. Moreover, advocacy can be applied into various areas of social work. Appendix 1 shows a summary of the different types of advocacy and examples of how they are applied into social work practice. Summary and Conclusion Critical social work is founded on the theoretical underpinnings of Conflict Theory and Critical Theory Perspectives. Conflict Theory focuses on how power structures and inequalities affect people’s lives. This is based on the argument that society is structured along the lines of inequality (i.e. wealth, income, health) and as such, these provide people with qualitatively different lives. Critical Theories, on the other hand, hold that social problems arise due to various forms of oppression. This perspective also emphasises that people can change society through conscious and collective action. Based on these perspectives, critical social work approach emphasizes the transformation of relationships between social work practitioners and service users into one that is empowering, emancipating and mobilising. Anti-oppressive perspectives have become an important facet of critical social work. This perspective holds that the imbalance of power in social work relations only serves to support the emergence of oppressive practices. However, in actual social work practice, it is very difficult to liberate service users from oppression due to various reasons, such as the lack of funding, support and tools from the government, legislative limitations, etc. Ethical awareness refers to the challenge faced by social work professionals in terms of their ability and commitment to act in an ethical manner. The various challenges and dilemmas confronting social workers are sometimes making it difficult for them to come up with ethically informed decisions. Social work is a very complex profession. Social workers are required to respond to both individual cases and public issues. They are mandated by the state to intervene with people who need help; while at the same time, they must work within administrative and legislative parameters. Social work also has multiple accountabilities, which may be conflicting and overlapping. Moreover, social work is constantly being restructured and redefined by the state but its core responsibilities must remain the same. Lastly, the negative experiences of social workers in their practice (e.g. lack of state funding and support; feeling undervalued and poorly understood, etc.) are complicating the situation even more. Social work has a long tradition of advocacy. Critical social work advocacy involves influencing decision makers to take a specific course of action. Additionally, advocacy is not just to represent the service user’s case, but also to enable the person to speak for themselves. Taking all these together, it can be concluded that engaging in critical social work requires a strong foundation in theoretical perspectives combined with an in-depth understanding of actual practice scenarios. The complexities of the social work arena and the various issues faced by social work practitioners provide huge challenges. As such, knowledge must be combined with commitment to the work, as well as passion for social justice and empowerment. References Evans, T Hardy, M (2010).  Evidence and Knowledge for Practice. Cambridge: Polity Press. p1-15. Dalrymple, J Burke, B (2006).  Anti-Oppressive Practice: Social Care and the Law. 2nd ed. Berkshire: Open University Press. P7-53. Dominelli, L (2009).  Introducing Social Work. Cambridge: Polity Press. p1-25. Hepworth, D, Rooney, R, Rooney GD, Strom-Gottfired, K Larsen, J (2010).  Direct Social Work Practice: Theory and Skills. 8th ed. Belmont: Brooks/Cole, Cengage Learning. p353-411. IFSW. (2012).  Statement of Ethical Principles.  Available: http://ifsw.org/policies/statement-of-ethical-principles/. Last accessed 14th Dec 2012. Kane, T. (2010).  What is social work?  Available: slideshare.net/ict4devwg/dwg-sw-march-10. Last accessed 14th Dec 2012. Lishman, J (2007).  Learning in Social Work and Social Care: Knowledge and Theory. London: Jessica Kingsley Publishers. p13-39. McLaughlin, K. (2005). From ridicule to institutionalization: anti-oppression, the state and social work.  Critical Social Policy. 25 (3), p283-305. NCSSS (National Catholic School of Social Services). (2008).  Overview of Theories of Human Behaviour and the Social Environment.  Available: http://ncsss.cua.edu/res/docs/field/theories.pdf. Last accessed 14th Dec 2012. Nzira, V Williams, P (2009).  Anti-Oppressive Practice in Health and Social Care. London: Sage Publications Ltd. p1-40. Oko, J (2011).  Understanding and Using Theory in Social Work. 2nd ed. Exeter: Learning Matters Ltd. p1-38. Pearson Higher Education. (2012).  Defining Policy Practice in Social Work.  Available: pearsonhighered.com/showcase/swcccs/assets/Cummins_0205032648_Ch01.pdf. Last accessed 14th Dec 2012. Social Work Task Force. (2009).  Facing up to the task: The interim report of the Social Work Task Force.  Available: swap.ac.uk/docs/taskforceinterim_rpt.pdf. Last accessed 14th Dec 2012. Strier, R. (2006). Anti-Oppressive Research in Social Work: A Preliminary Definition.  British Journal of Social Work. 10 (10), p1-15. Wilks, Tom (2012).  Advocacy and Social Work Practice. New York: Open University Press. p1-18. Appendix 1. Advocacy Type of Advocacy Example Strengths Limitations Paid advocacy Solicitor Expertise, especially on legal rights; powerful representation Costly; often an unnecessarily ‘heavy’ response Advocacy as part of a professional role Social worker; nurse Influence within services; time allocated as part of job; experience and knowledge of needs Usually working with more than one person, so attention limited that can be given to individuals; bound by conditions of employment; possible conflict of interest, e.g. if a person needs help to complain about colleagues or employers Advocacy by an organisation on behalf of a group Mencap; Royal National Institute for the Deaf; Age Concern Expertise; power deriving from membership; influence on national policy Usually concerned with general rather than individual issues Formal problem-oriented advocacy Ombudsman; Citizens’ Advice Bureau; local councillor; MP; patient advice (PALS) Formal or legal basis; independence; authority by virtue of role Often oriented towards complaints of specific problems Informal single issues unpaid advocacy Crisis or instrumental, outcome-oriented Citizen Advocacy Flexible; informal; expression of citizenship and social capital; minimises conflict of interest since unpaid and voluntary Concerned with single issues rather than long-term needs Informal long-term unpaid advocacy Relationship-based Citizen Advocacy partnerships; advocacy by family and friends Same as informal single issue unpaid advocacy; plus: long-term; relationship-based; protective as well as empowering Great trust required that the relationship will pursue the person’s best interests Self-advocacy by individuals on their own behalf Creative arts; taking part in own reviews; expressing wishes; involvement in person-centred planning Empowering; ensures relevance; participatory; enhances self-esteem Lacks power; depends on adequate support Self-advocacy by a group on behalf of its members People First; National Pensioners Convention; British Council of Disabled People Gives a voice to the otherwise unheard; expression of basic rights; supportive to members Likely to be concerned with general rather than individual issues; depends on financial and advisory support for success. Advocacy by individuals on behalf of a group Elected representatives; Partnership Board; Advisory panels Contribution of relevant views; expression of democratic participation and rights Individuals may not be representative; views expresses may not be those of the group as a whole Source: Nzira Williams 2009, p.30)