\Yale University Investment Essay Example for Free

\Yale University Investment Essay Summary: The Case is about the decision of the Yale Investments Office whether to continue to allocate the bulk of the universitys endowment to illiquid investmentshedge funds, private equity, real estate, and so forth. Important is to consider the risks and benefits of a different asset allocation strategy. Before the choice between different subclasses, e.g., between venture capital and leveraged buyout funds would be analyzed it is advantageous to get first background information. Effective management of a university endowment requires balancing fundamentally competing objectives. On the one hand, the University requires immediate proceeds to support the current generation of scholars. On the other hand, investment managers must consider the needs of generations to come. In order to understand the behavior of the Yale University would be a view thrown in the past helpful. In the 20th Century the growth of the Yale endowment was accelerated rapidly due to enormous bequests and big investments in equity. In 1930 equities represented 42% of the Yale endowment this was in comparison to other universities (11%) very high. Because of the Great Depression severe erosion of its endowment was avoided in 1930, but in the end of this decade reduced a treasurer of Yale the share of equities. The reason was that higher taxes expropriate profits. He assumed that bonds better perform than stocks. For the next two decades, treasurer selected individual bonds high yield or income orientated stocks for the portfolio. In the 1950s and 1960s this strategy was less useful for the bull market so they had to change their policy. First Yale decided to increase substantially the university ´s exposure to equity investments and second Yale decided to contract out much of the Portfolio Management function to an external adviser. The plan was the external company Endowment Management Research Corporation (EMR) would function as a quasi-independent external firm would be free to recruit additional clients. At the same time Yale would be its largest client and would have priority over other clients. But the expectations were not realized. So in 1979 due to the plummet of the inflation-adjusted Endowment value by 46%, terminated Yale its relationship with EMR. They followed working with a variety of external advises in its envolving asset management framework. Now, David Swensen was in 1985  hired to the Head of Yales ´s Investment Office and the whole Investment Committee consists of a well-diversified team. Besides Yale could develop its investment philosophy from 5 principles. These are the principles: 1). Strong believe in equities. Equities are a claim on areal stream of income while the bonds have low expected returns but poor performance with uncertain inflation. The long-run returns of equity is tremendous than the long-run return of bond. This principle is reasonable for the equity can bring risk premium return for the portfolio.2.) Diversify Portfolio. Risk could be more effectively reduced by diversify the portfolio to different kinds of asset classes rather than pile on the single asset class. With the diversified strategy, the portfolio can prevent extremely loss when the market is down unexpected.3.) Seek opportunities in less efficient markets. There are far greater incremental returns in nonpublic markets with incomplete information and illiquidity through selecting superior managers. Therefore, The Investment Office devote large portion of fund in illiquid investments. This principle sounds good but the Investment Office should pay attention to potential large risk.4.) Utilize outside managers for all but the most routine or indexed of investments. For the outside managers can be given considerable autonomy to implement their strategies with relatively little interference from Yale. However, it’s not an easy task in finding excellent managers in foreign equity market, especially in emerging market. Also, we will face the problem of interest conflict between Yale and the external managers.5.) Focus critically on the explicit and implicit incentives facing outside managers. Because rarely asset management business had good incentive alignments built into typical client-manager relationships. It is necessary for Investment Office to construct good innovative relationships and fee structures with various external managers to consist the manager interests with Yale’s. Yale ´s Investment Committee annually reviewed its endowment portfolio. For the choice between different asset classes we will consider the actual allocations in 2006. *2006 (current Target allocation)*Considered only the last 2-3 years The consideration of the expected returns and risks from its current allocation and compared them with those of past Yale allocations and the current mean allocation of other universities reflected the need of university to diversify its holdings.In August 2006, Swensen and Takahashi believed that they probably wanted to continue with investments in less efficient markets. But Private investments were important in contributing to Yale ´s highest returns. How should Yale allocate its new commitment? Compelling category to invest in Venture Capital/ Real estate/ Real assets, choices today? Mix between new groups and established organizations? Should Yale expand its international program to include a greater emphasis on Asia and other emerging markets? Overview: Advantage DiadvantagePrivate Equity(Venture Capital/ Real estate/) -consists with investment philosophy-long-term relationship with limited number of organizations-Excess Returns (15,4%) by portfolio ´s active Manager-greater exposure than other schools-scale on which PE operated-VC midmarket BO-relationship with key manager – competitive advantage -Yale has understanding of the private equity process -boom and bust cycle (high risk)-defections of key personnel-manager risk-avoid VC: obtaining access to the best firms nearly impossible-Yale should invest with a top-tier firm International PE Funds -good, because of the increasingly competitive in the U.S market-they have general partners on site (e.g China) -more planning-subsidiaries or affiliates of large financial institutions-difficult to evaluate foreign private equity organizations and selecting manager Real Assets (Real Estate/oil and gas) -interesting set of investment opportunities-avoid mortgages and other debt -only attractive if they could find the right manager with the right strategies and the right incentive structures-transaction fees or fees based upon assets-less attractive oil-and-gas, because it is difficult to find well-designed oil-and-gas partnerships Foreign equity/ Emerging markets -Undervalued  securities-provide portfolio diversification-grow rapidly, provide opportunities for active managers to earn superior returns- 7 active emerging market manager in the PF-(well diversified) -Slow development of institutional investing-Leading foreign manager appeared to work for large institutions -returns low correlation with those of the US-link between growth and profitability is weak Bonds / Foreign fixed-income securities -low risk -Skepsis, if returns are enough for compensation of default risk and callability of corporate issues-low expected returns perform poorly Approach (regard to the table above):Yale should stay committed to private equity (e.g high returns, Yale ´s hedging strategies reduces risk in private equity, enough important benefits to being in the private market). Besides it consists with the investment philosophy (principles). They should diversify portfolio with international private equity funds, it allows to break into new markets and get new opportunities, key managers are on site. Yale shouldn ´t invest in real estate (Real estate industry is dominated by firms that were compensated through transaction fees or fees based upon assets under management. These firms have every incentive to keep their investors ´ capital toed up over long periods of time. Besides less attractive is also oil-and-gas industry not enough knowledge and key manager). They have 7 key manager in the Portfolio for emerging markers, so it is a great opportunity to expand in emerging markets and find undervalued securities. The link between growth and profitability, which is weak can change with good manager decisions. They could diversify the risk with the high Private Equity returns.

Freedom of Speech and Media

Freedom of Speech and Media The freedom of speech is defined as the right of a person to express thoughts, ideas, and personal opinions through a desired media without any restrictions unless restriction is necessary such as where exercising the right infringes upon the rights of others or where national security is at threat. Advocacy for freedom of speech has taken centuries of soldiering on in the background of repression by authoritarian regimes, culminating in the UN General Assembly adoption of the Universal Declaration of Human Rights (UDHR) in 1948. Hesiod writes a theological work challenging some religious matters in 700 BC. Cleisthenes introduces the Isegoria in the Greek political chambers in 508 BC. Socrates is tried and sentenced to death by an Athenian jury in 399 BC. John Milton writes the Areopagitica in 1644, which strongly talked against restrictions of freedom of the press in England. The UN General Assembly adopts the Universal Declaration of Human Rights (UDHR) in 1948. Freedom of Speech and the Mass Media are inseparable. International human rights documents outline Freedom of Speech as including: the freedom of thought, and freedom to seek, acquire, and give ideas and information through any chosen media. The mass media, having the role of covering events, gathering and spreading information, and controlling state authority activities needs to exercise responsibility in carrying out its duties. Media bias is a problem affecting freedom to information which is a component part of freedom of speech. The western mainstream media has been accused of giving biased reports on the Israeli/Palestinian conflict. Censorship of Media is necessary. The ICCPR identifies two key areas where restrictions must be enforced on the freedom of speech as: respect to the rights of others and protection of national security or public order or morals. The Rwanda genocide of 1994 is an example of unrestricted media. Freedom of speech in Kenya has gradually evolved through spirited advocacy from extreme repression in the first about three decades since its independence to acceptable standards as contained in international human rights documents. Foreign and local press particularly in the Moi regime, periodically went through censorship in the form of expulsion from the country, detention of journalists and confiscation of publication. Parliamentary debates were restricted with certain topics such as voting procedures almost being banned by the executive after the coup attempt of August 1982. Ford-Kenya Chairman Jaramogi Oginga Odinga in 1992, challenged in the High Court, the unfair advantage that the incumbent was receiving over the other parties in the state owned Kenya Broadcasting Corporation (KBC). The media act was enacted in 2007, which placed more restrictions on the media. The Waki report which highlights key issues to be implemented in order to avoid a repetition of the post election violence, gives no special address to the media. Advocacy for freedom of speech has been a long historical struggle in the world involving torture and bloodshed and should be upheld and defended at all costs. Mass Media and the Freedom of Speech Freedom of speech is one of the basic human rights commonly contained in international human rights documents. Also referred to as freedom of expression, it is an important element of a democratic society. Precisely, the other side to freedom of expression is freedom to information, which makes it possible for people to make informed decisions about their lives. The Freedom of Speech as a human right carries with it responsibility and is therefore exercised within certain restrictions enforceable through Mass Media. The freedom of speech can be defined as the right of a person to express thoughts, ideas, and personal opinions through a desired media without any restrictions unless restriction is necessary such as where exercising the right infringes upon the rights of others or where national security is at threat. Throughout history, man has sought to exercise freedom of speech within his social habitation. The earliest concept dates back to around 700 BC in Ancient Greece, where matters of speech freedom then, were close to the heart than any other place on earth. Hesiod, a non-cleric, wrote a theological work challenging some religious matters. This was in defiance of the norm because such matters were only addressed by those in high status (Allsop, Quadrant Online: The Difficult History of Free Speech). A historical landmark in the fight for freedom of speech is the 508 BC introduction of the Isegoria, meaning Free Speech, by Cleisthenes in the Greek political chambers. (Allsop, Quadrant Online: The Difficult History of Free Speech) This probably laid the foundation for Freedom of Speech in Athens and also the whole world because it was the first time laws on free speech were formally recognized by a democracy. Socrates trial and death in 399 BC effectively marked the death of the isegoria because for the next about 2000 years freedom of speech declined. Socrates may as well be regarded as the martyr and father of freedom of speech because he defiantly stood for what he believed even with the option of freedom if he changed his stand (Owens). For years after his death, his teachings and ideals remained in the hearts of proponents of free speech after him. The rebirth of free speech 1500 after Socrates in England had so much to reflect on Socrates ideology. John Miltons famous pamph let written in 1644, Areopagitica, which talked extensively against restrictions of freedom of the press had Greek influence, even its naming was after a hill in Athens the site of courts in ancient Greece. (Allsop, Quadrant Online: The Difficult History of Free Speech). The fight for speech freedom culminated in the UN general assembly adoption of the Universal Declaration of Human Rights (UDHR) in 1948. Article 19 of the UDHR is clear that freedom of speech and opinion is a human right, which includes freedom of thought, freedom to seek, acquire and give ideas and information through any chosen media. (Youthmedia:What is the Role of Speech in a Democratic Society) Other international documents such as the International Covenant on Civil and Political Rights (ICCPR) also express similar precepts. To be able to transmit and receive information, people need to access mass media. In any given state, the role of mass media is so important that it is many times considered as the fourth arm of government. The mass media covers events, gathers and spreads information and controls activities of state authorities (Youthmedia:What is the Role of Speech in a Democratic Society). Being an independent sector, the mass media has the power to influence society either favorably or destructively. It therefore has to be responsible and accurate in its dissemination of information. The media is sometimes not accurate. The western mainstream media, for example, has been accused of giving biased reports on the Israeli/Palestinian conflict, where the reporters use language that influences the readers to favor Israeli attacks and de-taste Palestinian aggression (Walsh). The fact that a reporter is likely to take sides when covering particularly emotive matter begs the question whether we can get purely un-biased reporting from them. Such kind of bias is difficult to control and people may just have to live with it. Open and obvious bias, on the other hand, may develop its own control by the mare fact that the reader has recognized it, thereby avoiding being influenced by it. Censorship of Media is necessary. The society needs to be protected from information which is morally wrong, an infringement on the rights of others, or a threat to national security. The ICCPR identifies two key areas where restrictions must be enforced on the freedom of speech. These are respect to the rights of others, and protection of national security or public order or morals (Youthmedia:What is the Role of Speech in a Democratic Society). The Rwanda genocide of 1994 is an example of unrestricted radio use. Thompson (43) puts it clearly that radio played a central role in the build-up, during and after the genocide. Kenyas media enjoys freedom under the new constitution promulgated in 2010, Chapter 4 of the constitution contains an extensive bill of rights built around the standards of the UDHR and other international documents (Lwanga). Low moments in Kenyas democratic rights were from the countrys indepence in 1963 to the mid-Moi regime about three decades ago. As Cited by Gathu(7), Widner says that foreign and local press particularly in the Moi regime, periodically went through censorship in the form of expulsion from the country, detention of journalists and confiscation of publication. Parliamentary debates were restricted as certain topics such as voting procedures were almost banned by the executive after the coup attempt of August 1982. Such repressions were carried on until the beginning of multi-party politics in December 1991 where new opposition forces were legalized and they pressed for more freedom of expression. The weekly review, for example, points out that the then Ford-Kenya Chairman Jaramogi Oginga Odinga in 1992, challenged in the High Court, the unfair advantage that the incumbent was receiving over the other parties in the state owned Kenya Broadcasting Corporation (qtd. In Gathu 7). The new-found speech freedom in Kenya later began exhibiting incitement problems. For instance, the run-up to the 2005 referendum on the constitution was marred with political incitement. This led to the enactment of the media act in 2007, which placed more restrictions on the media (Lwanga). Even though Certain broadcasters were accused of using the media to incite people prior to the 2008 post election violence in Kenya, the Waki report which highlights key issues to be implemented in order to avoid a repetition of the post election violence, gives no special address to the media. The Mass media in Kenya has exercised responsible reporting since 2007 especially taking into account the recently concluded peaceful general elections on March 4, 2013; which were the first to be held under the new constitution. The desire for free speech has been deeply entrenched in the heart of man as an unwritten law since time immemorial, even before formal recognition by any authority. It has soldiered through history in the background of strong and sometimes brutal repression to be one of the key elements of human rights today. As freedom of speech is enjoyed today, the contributions of its great early crusaders such as Hesiod in the 700s BC, Socrates in 430 BC, and John Milton in 1644, cannot go unnoticed. Countless other brave advocates have endured persecution for what they strongly believed in. Now recognized worldwide and entrenched in international documents such as the UDHR and ICCPR this basic human right needs to be upheld and defended at all costs.

Long Spine Board Immobilization, an Overused Pre-hospital Intervention

Patients, that have suffered blunt or penetrating trauma that is significant enough to cause spinal injury, have always been treated by Emergency Medical Services with full spinal immobilization. Most textbooks for paramedics and EMTs stress the importance of procuring manual c-spine immobilization, followed by c-collar application, and then placed on a spinal board with the patient’s head secured to the spinal board. This management of trauma patients has long been the industry standard, but studies that prove patients benefit from the procedure are lacking and some studies have shown that spinal immobilization can actually be detrimental to patients. While true spinal cord trauma is a devastating injury its actual incidence is extremely low. In a study that examined one million trauma victims, only 2% had true spinal cord damage and of that 2%, only 1% had neurological deficits of any kind. Moreover, there is little data to suggest that our efforts at spinal immobilization are even effective. (Santa Cruz County EMS Integration Authority, 2012, para. 2) If only 2% of one million trauma victims had a true spinal cord injury that means 998,000 patients received full spinal immobilization that was unnecessary when only 2,000 warranted spinal immobilization. The use of long board spinal restriction as a precautionary measure should be reconsidered. Studies conducted by Chang et al. (2010) concluded that patients that suffered from penetrating trauma that were treated with spinal immobilization actually had higher mortality rates. The study suggests that the difficulty of controlling the patient’s airway and decreased respiratory drive caused by the supine position of the patient could be contributing factors in the mortality rates... ... 609-615. Chang, D. C.,Efron, D. T., Haut,E. R., Haider, A. H., Kalish, B. T.,Kieninger, A. N., & Stevens, K. A., (2010). Spine immobilization in penetrating trauma: more harm than good? Journal of Trauma-injury Infection and Critical Care, 68(1), 115-120. Hamel, M. G. (2014). How Lee County (Fla.) EMS implemented a new paradigm of cervical spine management. Journal of Emergency Medical Services, 14(1), 62-63. Hauswald, M. (2013). A re-conceptualisation of acute spinal care. Emergency Medicine Journel, 30(9), 720-723. McHugh, T. P., & Taylor, J. P. (2009). Unnecessary out-of-hospital use of full spinal immobilization. Academy of Emergency Medicine, 5(3), 278-280. Santa Cruz County EMS Integration Authority. (2012). New thinking on spinal immobilization. Retrieved from http://www.acphd.org/media/311913/santa%20cruz-%20new%20thinking%20about%20spine%20injures.pdf

jackson pollock :: essays research papers

Paul Jackson Pollock was born January 28, 1912, in Cody, Wyoming. He grew up in Arizona and California and in 1928 began to study painting at the Manual Arts High School, Los Angeles. In the fall of 1930, Pollock moved to New York and studied under Thomas Hart Benton at the Art Students League. Benton encouraged him throughout the succeeding decade. By the early 1930s, Pollock knew and admired the murals of Josà © Clemente Orozco and Diego Rivera. Although he traveled widely throughout the United States during the 1930s, much of Pollock’s time was spent in New York, where he settled permanently in 1934 and worked on the WPA Federal Art Project from 1935 to 1942. In 1936, he worked in David Alfaro Siqueiros’s experimental workshop in New York. Pollock’s first solo show was held at Peggy Guggenheim’s Art of This Century gallery, New York, in 1943. Guggenheim gave him a contract that lasted through 1947, permitting him to devote all his time to painting. Prior to 1947, Pollock’s work reflected the influence of Pablo Picasso and Surrealism [more]. During the early 1940s, he contributed paintings to several exhibitions of Surrealist and abstract art, including Natural, Insane, Surrealist Art at Art of This Century in 1943, and Abstract and Surrealist Art in America, organized by Sidney Janis at the Mortimer Brandt Gallery, New York, in 1944. From the fall of 1945, when artist Lee Krasner and Pollock were married, they lived in the Springs, East Hampton, New York. In 1952, Pollock’s first solo show in Paris opened at the Studio Paul Facchetti and his first retrospective was organized by Clement Greenberg at Bennington College, Bennington, Vermont. jackson pollock :: essays research papers Paul Jackson Pollock was born January 28, 1912, in Cody, Wyoming. He grew up in Arizona and California and in 1928 began to study painting at the Manual Arts High School, Los Angeles. In the fall of 1930, Pollock moved to New York and studied under Thomas Hart Benton at the Art Students League. Benton encouraged him throughout the succeeding decade. By the early 1930s, Pollock knew and admired the murals of Josà © Clemente Orozco and Diego Rivera. Although he traveled widely throughout the United States during the 1930s, much of Pollock’s time was spent in New York, where he settled permanently in 1934 and worked on the WPA Federal Art Project from 1935 to 1942. In 1936, he worked in David Alfaro Siqueiros’s experimental workshop in New York. Pollock’s first solo show was held at Peggy Guggenheim’s Art of This Century gallery, New York, in 1943. Guggenheim gave him a contract that lasted through 1947, permitting him to devote all his time to painting. Prior to 1947, Pollock’s work reflected the influence of Pablo Picasso and Surrealism [more]. During the early 1940s, he contributed paintings to several exhibitions of Surrealist and abstract art, including Natural, Insane, Surrealist Art at Art of This Century in 1943, and Abstract and Surrealist Art in America, organized by Sidney Janis at the Mortimer Brandt Gallery, New York, in 1944. From the fall of 1945, when artist Lee Krasner and Pollock were married, they lived in the Springs, East Hampton, New York. In 1952, Pollock’s first solo show in Paris opened at the Studio Paul Facchetti and his first retrospective was organized by Clement Greenberg at Bennington College, Bennington, Vermont.

Vietnam :: essays research papers

The ICP was formed in Hong Kong in 1930 from the amalgamation of the Vietnamese and the nascent Lao and Khmer communist groups, and it received its instructions from the Moscow-based Communist International (Comintern). Communist Movement The Vietnamese communist movement began in Paris in 1920, when Ho Chi Minh, using the pseudonym Nguyen Ai Quoc, became a charter member of the French Communist Party. Two years later, Ho went to Moscow to study Marxist doctrine and then proceeded to Canton as a Comintern representative. While in China, he formed the Vietnamese Revolutionary Youth League, setting the stage for the formation of the Indochinese Communist Party in 1930. French repression of nationalists and communists forced some of the insurgents underground, and others escaped to China. Other dissidents were imprisoned, some emerging later to play important roles in the anti-colonial movement. Ho Chi Minh was abroad at that time but was imprisoned later in Hong Kong by the British. He was released in 1933, and in 1936 a new French government released his compatriots who, at the outset of World War II, fled to China. There they were joined by Ho, who organized the Viet Minh-- purportedly a coalition of all anti-French Vietnamese groups. Official Vietnamese publications state that the Viet Minh was founded and led by the ICP. Because a Vichy French administration in Vietnam during World War II cooperated with occupying Japanese forces, the Viet Minh's anti-French activity was also directed against the Japanese, and, for a short period, there was cooperation between the Viet Minh and Allied forces. When the French were ousted by the Japanese in March 1945, the Viet Minh began to move into the countryside from their base areas in the mountains of northern Vietnam. By the time Allied troops--Chinese in the north and British in the south--arrived to take the surrender of Japanese troops, the Viet Minh leaders had already announced the formation of a Democratic Republic of Vietnam (DRV) and on September 2, 1945, proclaimed Vietnam's independence. Deep divisions between Vietnamese communist and non-communist nationalists soon began to surface, however, especially in the south, and with the arrival of Allied forces later in September, the DRV was forced to begin negotiations with the French on their future relationship. The difficult negotiations broke down in December 1946, and fighting began with a Viet Minh attack on the French in Hanoi. Civil War A prolonged three-way struggle ensued among the Vietnamese communists (led by Ho Chi Minh), the French, and the Vietnamese nationalists (nominally led by Emperor Bao Dai). Vietnam :: essays research papers The ICP was formed in Hong Kong in 1930 from the amalgamation of the Vietnamese and the nascent Lao and Khmer communist groups, and it received its instructions from the Moscow-based Communist International (Comintern). Communist Movement The Vietnamese communist movement began in Paris in 1920, when Ho Chi Minh, using the pseudonym Nguyen Ai Quoc, became a charter member of the French Communist Party. Two years later, Ho went to Moscow to study Marxist doctrine and then proceeded to Canton as a Comintern representative. While in China, he formed the Vietnamese Revolutionary Youth League, setting the stage for the formation of the Indochinese Communist Party in 1930. French repression of nationalists and communists forced some of the insurgents underground, and others escaped to China. Other dissidents were imprisoned, some emerging later to play important roles in the anti-colonial movement. Ho Chi Minh was abroad at that time but was imprisoned later in Hong Kong by the British. He was released in 1933, and in 1936 a new French government released his compatriots who, at the outset of World War II, fled to China. There they were joined by Ho, who organized the Viet Minh-- purportedly a coalition of all anti-French Vietnamese groups. Official Vietnamese publications state that the Viet Minh was founded and led by the ICP. Because a Vichy French administration in Vietnam during World War II cooperated with occupying Japanese forces, the Viet Minh's anti-French activity was also directed against the Japanese, and, for a short period, there was cooperation between the Viet Minh and Allied forces. When the French were ousted by the Japanese in March 1945, the Viet Minh began to move into the countryside from their base areas in the mountains of northern Vietnam. By the time Allied troops--Chinese in the north and British in the south--arrived to take the surrender of Japanese troops, the Viet Minh leaders had already announced the formation of a Democratic Republic of Vietnam (DRV) and on September 2, 1945, proclaimed Vietnam's independence. Deep divisions between Vietnamese communist and non-communist nationalists soon began to surface, however, especially in the south, and with the arrival of Allied forces later in September, the DRV was forced to begin negotiations with the French on their future relationship. The difficult negotiations broke down in December 1946, and fighting began with a Viet Minh attack on the French in Hanoi. Civil War A prolonged three-way struggle ensued among the Vietnamese communists (led by Ho Chi Minh), the French, and the Vietnamese nationalists (nominally led by Emperor Bao Dai).

Person centred approaches in adult social care settings Essay

Assignment composition Assignment overview In this assignment you will demonstrate your knowledge of person-centred care. You will explore what is meant by the term ‘consent’, define person-centred values, and consider how active participation can be used to best effect. You will consider how risk assessments can support informed choices and examine the factors that contribute to the well being of individuals using the service. see more:why person centred values are important and how they influence social care work Tasks There are three tasks to this assignment. A Information leaflet B Short answer questions C Case studies Task B Short answer questions Bi- Describe two ways of finding out about the history, preferences, wishes and needs of an individual using the service. If the resident is unable to talk about themselves and what they want then a good way of finding out is to talk to family and friends. They will have important information about the resident that may help you communicate with that person. If the service user can speak for themselves then the staff can sit down and talk to find out more about their needs, preferences and their history. Bii- Describe two ways of making sure that the history, preferences, wishes and needs of an individual using the service are recognised in support or care plans. The service user could write down their wishes and needs, if they are able to read and write. With the help of the staff the service user could add extras like favourite music, colour, type of outfit, favourite food, activity and so on. Biii- Explain how a care plan helps social care workers to work in a person centred way. Whoever carry’s out the service users care plan should have complete understanding of the plan themselves. The care plan is the most important thing to have knowledge about as this is the most valuable piece of information with the service users needs, wishes and preferences. Biv- Define what is meant by the term â€Å"active participation†. 1. Promoting there independence 2. Enjoy day to day life without any struggle 3. To help the service user with whatever they ask as you are the only help they may have. Bv- Give two examples of active participation, explaining how the individual using the service may benefit from being fully involved. Getting them to plan a day out themselves, this will help a service feel more independent and happy. To help them promote there independence this will help the service user get to know what is happening where they live and get more social. Bvi- Using the table below, describe three examples of barriers to active participation and how each can be overcome. Barrier How it can be overcome Lack of understanding Speak loud and clear Hearing aid Interpreter Lack of teamwork Staff to report of concerns Social workers, docs, nurses or/and staff to discuss any issues with the service user Meetings to be made to keep up to date with service user Feeling excluded Service user to help create care plan Conversations with the service user about anything Service user to attend the staff meetings to be more involved Bvii- Describe two ways of encouraging active participation. Collecting leaflets and showing them to the service user to try and get them involved in activities in the community. Take the service user to volunteer in a shop or event. Bviii- Explain how the identity of an individual using the service is linked to their well being. Moving into a care home is a big thing and a service user could be very alone and afraid of what it may be like so staff should always make any service user feel loved and unforgotten to protect them from losing there identity. Bix- Explain how the self esteem of an individual using the service is linked to their well being. Every service user should be treated for respect and confidence, if you do this then that persons self esteem will be very good and this will help the person feel welcome and able to speak to any of the staff about any problems, fears, wishes and preferences. Bx Describe two attitudes or approaches which could promote the well being of an individual using the service. Service users should all be given the right to choose what they want and how they want it. Just like you or I would like a hot cop of tea with 2 sugars, you wouldn’t forget your own sugar so you shouldn’t forget theirs. Staff should be up to date with their training so they can see and learn the service users wishes and preferences. Bx Describe two attitudes or approaches which could promote the well being of an individual using the service. Staff need to understand the service users way of life. Whether that is its religion, choice of food, type of clothing. To understand all this it is vital that the staff read the service users care plan. Bxi Identify two ways of making sure an individual’s physical environment promotes their well being. When it is time for a meal the staff should know how that service user would like there meal. Some could be a vegan or a vegetarian. Some may just not like a kind of meat, veg, or fruit. Involving the service user in making the meal is also a great way in  promoting the service users well being as this will make them feel involved in something and know what they are putting in there mouths. Bxii Identify two ways of working that promote an individual’s social and emotional well being. All staff should understand the users support plan. This is so the staff can understand what the user needs. Example- What kind of communication or if they need assistance with eating. Task C Case study one Marcus Thompson is 18 and has learning disabilities. He is moving from children’s social care to adult social care and has to decide whether he wants to remain at home with his family or move to supported housing. You are his support worker and think he would be better off living away from his family who sometimes try to do too much for him. Ci Identify ways of helping Marcus to make an informed choice. You could propose to Marcus if he would like to visit the support housing to see if it is the kind of thing he would prefer. He could stay a night or just spend the day. You could also bring Marcus to speak to some of the other service users and ask questions about the support housing. Cii Explain why it is important that you do not let your own view influence Marcus’ final decision. It is important because it is not he going into support housing it is someone else. Marcus could maybe love being looked after by his family and want to be around them. But he may want a bit more independence. This is why it is important to make sure Marcus knows that it is completely up to him, its his decision. Case study two Mr Mistry has recently been discharged from hospital after a serious fall. He wants to continue living at home, but there is some pressure on him from his family to move to live with them, or to move to a supported environment.  They believe they have the support of the medical profession in this. Ciii Explain how a thorough risk assessment might help Mr Mistry make up his mind about what he wants. If a thorough risk assessment is carried out and explained deeply to Mr Mistry, then he may then realise that he does need more help than he thinks and may consider help. Some people don’t like to admit they need extra help, which is why it is important the whole situation is explained so the user knows what could happen. Civ Explain why Mr Mistry may choose to take a risk and live alone in his home. Mr Mistry may choose to live at home because he likes his independence and making his own decisions. He has probably lived their his whole life, moving away to get looked after by your family or care staff may be sound scary to some who has done everything themselves. Cv Describe ways of helping Mr Mistry question or challenge decisions made by his family or other professionals with which he does not agree. Staff should set up a meeting for professionals, family and of course Mr Mistry to attend and discuss what he wants. Mr Mistry can still make his own decisions.

Kim Fuller Essay

In the early fall of 2002, Kim Fuller was employed as a district sales engineer for a large chemical firm. During a routine discussion with plant chemists, Fuller learned that the company had developed a use for the recycled material, in pulverized form, made from plastic soda pop bottles. Because the state had mandatory deposits all beverage bottles. Fuller realized that a ready supply of this material was available. All that was needed was an organization to tap that bottle supply, grind the bottles, and deliver the pulverized plastic to the chemical company. It was an opportunity Fuller had long awaited—a chance to start a business. In November 2002 Fuller began checking into the costs involved in setting up a plastic bottle grinding business. A used truck and three trailers were acquired to pick up the empty bottles. Fuller purchased one used grinding machine but had to buy a second one newï ¼â€ºSupplies and pans necessary to run and maintain the machines were also purcha sed. Fuller also purchased a personal computer with the intention of using it to keep company records. These items used $65,000 of the $75,000 Fuller had saved and invested in the company. A warehouse costing $162,000 was found in an excellent location for the business. Fuller was able to interest family members enough in this project that three of them, two sisters and a brother, invested $30, 000 each. These funds gave Fuller the$50,000 down payment on the warehouse. The bank approved a mortgage for the balance on the building. In granting the mortgage, however, the bank 0fficial suggested that Fuller start from the beginning with proper accounting records. He said these records would help not only with future bank dealings but also with tax returns and general management of the company. He suggested Fuller find a good accountant to provide assistance from the start, to get things going on the right foot. Fuller’s neighbor, Marion Zimmer, was an accountant with a local firm. When they sat down to talk about the new business, Fuller explained, â€Å"I know little about keeping proper records.† Zimmer suggested Fuller should buy an â€Å"off-the-shelf† accounting system software package from a local office supply retailer. Zimmer promised to help Fuller select and install the package as well as learn how to use it. In order to select the fight package for Fuller’s needs, Zimmer asked Fuller to list all of the items purchased for the business, a11 of the debts incurred, and the information Fuller  would need to manage the business. Zimmer explained that not al l of this information would be captured by the accounting records and displayed in financial statements. Based on what Fuller told Zimmer, Zimmer promised to create files to accommodate accounting and non-accounting information that Fuller could access through the company’s personal computer. As Fuller’s first lesson in accounting, Zimmer gave Fuller a brief lecture on the nature of the balance sheet and income statement and suggested Fuller draw up an opening balance sheet for the company. Confident now that the venture was starting on solid ground, Kim Fuller opened the warehouse, signed contracts with two local bottling companies, and hired two grinding machine workers and a truck driver. By February 2003 the new firm was making regular deliveries to Fuller’s former employer. Questions 1. What information will Fuller need to manage the business? Classify this information in two categories: accounting information and non-accounting information. 2. See what you can do to draw up a beginning of business list of the assets and 1iabilities of Fuller’s company making any assumptions you consider useful. How should Fuller go about putting a value on the company’s assets? Using your values, what is the company’s opening owners’ equity? 3. Now that Fuller has started to make sales, what information is needed to determine â€Å"profit and loss†? What should be the general construction of a profit and loss analysis for Fuller’s business? How frequently should Fuller do such all analysis? 4. What other kinds of changes in assets, 1iabilities, and owners’ claims will need careful recording and reporting if Fuller is to keep in control of the business?