Problems And Challenges Of Poverty - 1595 Words

PROBLEMS AND CHALLENGES OF POVERTY IN SASKATCHEWAN Literally, poverty is a condition of having little or no money, goods, or means of support; condition of being poor1. It is a multi-faceted issue that include problems regarding income, cost-of-living, health and social cohesion1. Poverty affects multiple group of persons in the society and no one is immune to its consequences. Overtime, there has been a strong association between poverty and many health conditions such as chronic diseases (diabetes, heart disease), injuries, stress, anxiety, depression, and untimely deaths2. In Saskatchewan, poverty still remains a menace despite the provincial economic growth over the years. This improvement in the economy of the province has not been†¦show more content†¦The poverty rate among single mothers was 36.8% in 20106 while people with disabilities faces 53% higher unemployment rates than people without disabilities7. Poverty cost the government of Saskatchewan $3.8 billion in heightened service use and missed opportunities in 20108. It also resulted in more spending on the criminal justice system. This spending was increased by $50 to $120 million a year compared to the previous year9. Poverty in Saskatchewan is a socio-economic problem resulting from sustained low levels of income for vulnerable residents of the province and lack of access to services like safe and affordable housing, education and health care. PUBLIC HEALTH CONCEPTS UNDERLYING POVERTY IN SASKATCHEWAN There are various public health concepts underlying poverty in Saskatchewan and they include inequality, social exclusion, education, unemployment and income income distribution. All these concepts work together to reduce opportunities, limit choices, undermine hope, and, as a result, threaten health2. Poverty and inequality are two separate entities, however inequality can feed widespread poverty by hindering vulnerable individuals with lower socio-economic status from accessing the tools and resources needed to support themselves in the society. Since 2000, there has been an increasing huge income disparity in Saskatchewan hence, resulting in a wide gap between the richest and poorest families3. Poor education especially in northern Saskatchewan often

In Many Developing Countries, Corruption Is A Barrier To

In many developing countries, corruption is a barrier to economic growth. Corruption can prevent the fair allocation of goods and services to citizens by trickling to aspects of everyday life. On a macroeconomic level, scholars are of the belief that corruption hinders economic growth and development (Mauro, 1995). Definition Corruption is often described as a cancer, one official simply referred to it as â€Å"the AIDs of democracy† (Johnston, 1996). Corruption has been defined in a variety of ways, including as â€Å"dishonest or fraudulent conduct by those in power, typically involving bribery†. There is no ‘clear-cut’ definition of corruption. Nevertheless, as mentioned in the previous section the World Bank’s definition will be used in this†¦show more content†¦3. A corruption index sold by the International Country Risk Guide (ICRG), a private business consulting company. While the indicators have been widely used in empirical research, some researchers have questioned about the accuracy of these measures and the validity of their use in empirical research (Campbell, 2013). As most estimates of corruption are based on surveys of perception. These perception surveys have the advantage of good coverage—it is much easier to ask someone’s perceptions of corruption than to measure corruption. However, the validity and reliability of perception indicators as measures of corruption, they remain in fact, a reference for people and both businesses and political leaders to make decisions, enabling them to gauge the impact of corruption on the economy. Some would see as better to go in with some information rather than nothing at all. There are two competing views when discussing corruption. The first suggest that corruption creates barriers to a country s development. This is mainly seen in recent literature, for example, Rose-Ackerman (1999) and Knack and Keefer (1995). The second being that corruption can be beneficial for a country’s development as they can easily overcome barriers such as regulation to complete projects- although this is not a popular opinion. This review mainly tackles literature from the school of thought that corruption can be harmful to aShow MoreRelatedChallenges Faced By Developing Countries1310 Words   |  6 Pageschallenges that developing countries face in international trade. It will be linked to statistics and references to support the information. It will end by showing several topics about the argument of import substitution policy and the export-led economic development. Altogether, these concerns will be linked to the circumstances faced by the developing countries wit h links to the World Trade Organization (WTO) regime. 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Types of barriers include: tariffs, non-tariff, discriminatory barriers, and reciprocity. The following hypothetical will be used to explain all of the barriers. Imagine Mexico, USA, and Canada create a tradeRead MoreWhat Are The Four Factors That Influence Competitive Advantage?1340 Words   |  6 PagesAs the market continues to globalize, the competitive position of countries has become increasingly important as it affects a countries growth and development (Ekmen-Ozceijk, 2014). Whilst developed nations have the upper hand in terms of large industrial bases, strong infrastructure and high standards of living, this does not necessarily mean that they always have the competitive advantage. Porter’s diamond suggests that there are four factors that influence competitive advantage: factor endowmentsRead MoreAdministrative Corruption Is Now A Buzzword For The Current Era Essay1360 Words   |  6 PagesAdministrative corruption is now a buzzword for the current era. It differ s from country to country as it’s effects are varying on the basis of socio ­economic and political structure and the proportion of a nation’s growth. It makes a public or, private organisation untrustworthy and increase nullification negligence and in society. Corruption has been the problem belonging ever since from the human civilisation.Corruption is not a new phenomenon Bangladesh. It got heavily engaged with the administrativeRead MoreAid is not the Way to Development1427 Words   |  6 Pages Trade, not aid, is the key to economic growth in developing countries. To what extent do you agree with this statement? Introduction Most of the developing countries are mired deeply in economical obstacles, which prevent them from development significantly. In order to overcome those embarrassments world’s society struggles to find the efficient solution for poor countries’ economies. Historically, developed countries undertook policy of giving aid to their colonies, afterwards

Plain Jane free essay sample

â€Å"Kids, come downstairs. I made dinner.† I shakily make my way downstairs. The odor hits me before I even enter the kitchen. It is so pungent I stop dead in my tracks. My friends leap into their seats and dig in, but I am hesitant to sit down. I look in the bowl, and I see my adversary: tuna mac. The mother looks at me expectantly, wondering why I’m not eating. In an attempt to be polite, I muster all the courage I have and dip my spoon into the colorless meal. My taste buds are screaming in terror, and I’m struggling to choke back a gag. I’m exerting an uncanny amount of energy trying to even bite the spoon, but to no avail. I excuse myself to the bathroom and wash my mouth out, reflecting on why I’m such a wimp and why I have such an intense fear of trying new foods. We will write a custom essay sample on Plain Jane or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page For as long as I can remember, I’ve been uncomfortable eating anything I hadn’t eaten before. Foods as simple as celery or cucumbers, despite their lack of flavor, sent me running in the opposite direction. My entire diet consisted of macaroni and cheese, bread, mashed potatoes, and chicken nuggets. I learned little tricks to get away with sticking to what I knew; I would feed the dog broccoli under the table, or put cherry tomatoes in my pockets until I could throw them in the bushes outside my house. My schemes simply fed my lack of adventure, my fear of the unknown. At fifteen, I continued to eat off the kids’ menu, to the embarrassment of my mother. At family gatherings, I watched my family roll their eyes as I try to convince the waitress that yes, I am a very large twelve-year-old. My mother would turn to me and quietly say, â€Å"There won’t be a kids’ menu in Costa Rica.† One of my biggest concerns when signing up for the class trip to Costa Rica was the food options. When we first arrived in San Jose, our first meal was arroz y frijoles, or rice and beans. I took my seat where the meal was already laid out. I stared uncertainly at my meal and mixed up the food, hoping the rice would disguise the strange texture of the beans. I closed my eyes, pinched my nose, scooped a small bite into my mouth. In a very anti-climactic manner, I realized that the rice and beans had a simple but fulfilling taste. The combination of the crunchy beans with the grainy rice was surprisingly pleasing, and I even returned to the buffet for seconds. I thrived the rest of my trip exploring the palette of Costa Rica, including platanos maduros and el casado. I translated this new principle into my life back home by joining the fencing team. I was always reluctant to join because indoor track was comfortable and easy; anyone can run but not everyone has the finesse and dexterity to attack someone else with a weapon. My junior year, after my trip to Costa Rica, I realized if I could break a lifelong habit of avoiding foods I was unfamiliar with, I could learn something new. I learned the basic maneuvers of handling a weapon and eventually began to fence varsity. I won third place in the State Novice Tournament and was Rookie of the Year for my team. I no longer shy away from opportunities that intimidate me, like running for president of the Interact club, or joining the Young Democrats organization in my community. My success taught me that just because something is unfamiliar, does not mean that I should be scared of it; it should excite me because I could learn something new about myself.

Accounting Financial ACC70 Samples †MyAssignmenthelp.com

Question: Discuss about the Accounting Financial ACC70. Answer: Introduction In the recent past, several Australian organisations were declared bankrupt due to failure to meet their liabilities. Some of these companies include ABC Learning, One.Tel and HIH. With these considerations, this paper aims to investigate on the major events that led to their liquidation. The paper also aims to present analysis on whether liabilities have been the major contributor to the companies liquidation. Background of the Three Companies The ABC learning was one of the Australian organizations. It was established in 1988 in Ashgrove, Queensland and rapidly expanded its operations reaching around 43 childcare centres by the end of June 2001 (Rush Downie, 2006). The company was listed in Australian Security Exchange in 2006 with a market capitalization of around $2.5 billion. It went into administrative receivership after the upshot from subprime mortgage crisis resulted to debt repayment overwhelming the frim (Kruger 2011). In 2005, the company purchases Learning Care Group which provided it with over 70,000 extra licensed childcare places. The main role of ABC Learning was operation of childcare centers. In essence, it provided childcare services for different children from six weeks old to the pre-school age. It main objective was to make sure that every kid is loved, educated and nurtured and therefore ensure they are given the best probable chance in their life. After a successful history of this company back in 2008, the company had its backdrop of severe financial and debt crisis that forced it to go into a voluntary administration receivership as on November 2008. Over this period, 40% of its centers were declared unprofitable and its board handed ABC over to the administrator (Rush Downie, 2006). On the other hand, HIH Insurance comprises of numerous distinct government-licensed insurance organisations, including the HIH Casualty as well as the General Insurance Limited, CIC Insurance Limited as well as the World Marine and General Insurance Limited. In essence, HIH Insurance Company was the Australian largest Insurance firm prior to it liquidation on March 2001 (Buchanan, Arnold Nail 2003). Its liquidation is the largest collapse in the history of the country with it losses being estimated at $5.3 billion. HIH Insurance was established in 1968 by Michael and Ray before it was acquired by British Company CE in 1971 and then transferred to Health International Holdings in the year 1989 (Allan 2006). Furthermore, One.Tel Phone Company was the fourth largest company in the telecommunication sector in Australia before its collapse. The company encompassed a group of the Australian telecommunication firms established in 1995 most of which are under external administration by the court after liquidation. The firm was established by Brad and Jodee. The two has ventured in unsalable and obsolete software. In addition, the two were properly connected in contact with investors, brilliant personnel and financiers who could assist their firm grow. One-Tel developed at a significant rate and achieved great deals within a short period of time. During its existence, OneTel Phone Company occupied the second position in the Australian telecommunication organization (Avison Wilson 2002). It had over 2 million consumers and its operations were in eight major countries. Therefore, the collapse of this firm was a shock to the different corporates operating in Australia and across the globe. This f irm had high profile or reputable directors and was known for its effective promotion. Nonetheless, the firm was declared bankrupt in June 2001 and since that time it has been in the process of being settled (HIH Royal.Com 2003). ABC Learning Collapse In spite of this company selling off assets, it fell into receivership in 2008. Its collapse is not just a commercial let-down but it is also a governmental policy disaster. In essence, the collapse was attributed by overreliance on ever-increasing stock price by the government to assist in funding the ceaseless expansion (Kruger 2011). Further, the collapse of ABC Learning is also linked to poor accounting, governance as well as ethical practices. In addition, ABC Learning collapse is linked to its increased debt servicing obligation over the years as a result of its rapid expansion internationally mainly from acquisition in UK and US. In essence, the main reason behind ABC Learning collapse is its opaque operation. Basically, ABC Learning business model was not properly planned, economics of different sites were not coasted and there was improper analysis for site selections. In addition, there was no organization hierarchy and the company was not decentralized in a proper manner ( Khan 2017). This provided room for lack of transparency in ABC Learning operations. Further, ABC Learning income statement was also inaccurate in their source of income. Another reason for ABC Learning collapse was staffing problem. The company had relief staff provider with whom the company had legal dispute. This childcare owed 123 careers around $9 million worth of the bills and around $31 million compensation package for about 16,000 staffs attributing to the high level of turnover and lack of effective personnel (Kruger 2011). Another reason was the ineffectiveness of the HR department. ABC Learning lacked human resource practices since there were no HR planning practices as recruitment and selection, job analysis as well as proper training. Finally, practice of nepotism also attributed to ABC Learning collapse. Basically, ABC Learning CEO practiced nepotism by including his former brother-in-law in major expenditures as he provided refurbishment and maintenance of childcare centers. Collapse of One Tel There is no specific reason as to what led to collapse of One-Tel, nonetheless, weaknesses in the governance practices in line with internal control system, audit quality, management communication with board of directors, management scrutiny as well as financial report quality could be linked to the firm downfall. In essence, the collapse of One-Tel could be as a result of numerous aspects such failure of the management and directors to exercise appropriate duties as in the Act of 2001, lack of internal controls as well as lack of independence in auditing role. To start with, failure of the management to in running the firm could have attributed to One-Tel collapse (Avison Wilson 2002). The company management embraced management-by-crisis technique and instead failed to carry out forward planning. In addition, the director failed to act on behalf of shareholders interests, thus disregarding agency relationship. Here the management approved excessive expansions as well as loans, failing to ensure that suitable system of audits and controls are observed. In addition, the management failed to act honestly contravening section 180, 182 and 183 of the Act. Another reason for One-Tel collapse was the failure of the auditors to carrying out their functions in an independent manner (News archives 2001). HIH Insurance Collapse Collapse of this firm is considered as the biggest or massive collapse in Australia insurance organizations history. The commission examining the events that led to its collapse reported that there was not just a sole cause of HIH liquidation but there was some methodical disaster in every section or level of its operations (Buchanan, Arnold Nail 2003). Some of the events include Rodney act of obtaining cash by deception, dishonesty in discharge of Rodney duties as well as his act of intentionally disseminating any false information. Another event that led to failure or collapse of HIH Insurance was failure of providing properly for the future claims as well as all other issues particularly stemmed for the issue (Allan 2006). Covering the future claims is an important facet of any insurance firm operation. Nevertheless, by end of HIH life, the company was in a stand where the adverse swing of 1.7% would be sufficient to bring up the firm to be the mismanagement of the varying market situations that increased the HIH liabilities enormously and were not at any point covered by the tactical forecasting initiatives which could have been anticipated to engross such variations. The varying market situation could have caused some serious destabilization for the company. The collapse is also attributed by its antagonistic expanded business strategies (Bailey2003). HIH acquired numerous firms in its final years. These expansions are said to have brought about greater or huge liabilities in the organization than it would otherwise be in case it took into consideration that the liabilities would be in proportion to its expansion (HIH Royal.Com 2003). In essence, HIH appeared to have misinterpreted the level to which additional requirements required to be completed for variations in the market, which is a key error that if it was addressed on time it could have enabled the company to evade the liquidation (Buchanan, Arnold Nail 2003). In addition, HIH also entered the market that was either overcrowded or competitive offering relatively lower insurance premium to its customers which resulted to legal and business risks or issues. Furthermore, it acquired some troubled insurance organization with relatively high price within it rapid growth in 1990s with one of the controversial acquisition of around $300 million of buying FAI who in a later date became the member of the HIHs directors. Furthermore, HIH Insurance had numerous fundamental issues like reserve problem and under-pricing. Besides its collapse was not only contributed by it fundamental issues and business strategy, but was also attributed by reckless management, greed, self-dealing, false reports and fraud. In addition, the company was also attributed by stock market manipulation as well as disseminating false information (Allan 2006). Ethics and Governance in Explaining ABC Learning Financial Stress The ABC Learning governance was poor which is associated with its current financial stress. In addition, its act of entering into numerous related-party transactions was unethical and damaged its reputation to different investors (Rush Downie, 2006). ABC Learning corporate governance has some issues which included use of the margin loans by former and founder chief executive in investing in the firm and related party transaction with the relatives. These practices are unethical and could attribute to financial stress in an organization (Khan 2017). The company management also lacked proper governance practice in considering the effect their decision could pose on the organisation culture, and employees, leading to low quality care. There is also issue of ethics in ABC management where the management opted to follow pre-conventional level rule in maximizing their profit instead of being concerned on the company employees. Ethics and Governance in Explaining One-Tel Financial Stress One of the ethical issues that could be pointed in One-Tel scenario was failure of the auditors to observe independence while carrying out their duties. This could result in misstatement in the financial statements going unnoticed. There is also some issues in governance where by the management failed to scrutinize the proportion of debts that was being used tofinance the expansion in relation to the amount of cash flow getting in after the expansion (News archives 2001). Ethics and Governance in Explaining HIH Financial Stress The fact that HIH board went unchallenged while pursuing its expansion strategies is unethical and shows that there were some disasters in governance with no actual guidance being applied in checking whether the firms plan was financially sustainable or correct. In essence, it is totally unethical for the management to fail to be cautious while pursuing the expansion, since any organization planning to expand its operations needs to be cautious to ensure its liabilities are well covered during its expansion (Allan 2006). By expanding rapidly, it shows that there was poor governance since the company had little experience and it left no margin in entering the new market. This shows major mismanagement and unethical during HIH major expansion. There is also some ethics issues from HIH Insurance practice ranging from lack of independence for the non-executive directors as well as dominance of the CEO which could have led to the companys financial stress (Bailey2003). Further, there were some corporate governance practice failures which are linked with the companys current financial stress. These included lack of independent information resources as well as inadequate risk management. Conclusion In conclusion, it is evident that massive expansion of the three firms both in Australia and globally was the key event that resulted to their liquidation. This is based on the notion that with the massive expansion, the companies debt servicing increased, resulting to increased long-term debt obligation which was not in proportion to the total return generated from the new expansion. Thus, in simple terms it is evident that increased level of liabilities was the main reason behind the collapse of the three companies. Hence, there is need for the management of such firms to take into account of the liability levels before making any decision to expand its operations. References Allan, G. (2006). The HIH collapse: A costly catalyst for reform.Deakin L. Rev.,11, 137. Avison, D., Wilson, D. (2002). IT failure and the collapse of One. Tel. In Information Systems (pp. 31-46). Springer US. Bailey B2003, Report of the Royal Commission into HIH Insurance; Viewed at 4th September 2017 from; https://www.aph.gov.au/library/Pubs/RN/2002-03/03rn32.htm Buchanan, B., Arnold, T., Nail, L. (2003). Beware of the ides of March: The demise of HIH Insurance. HIH Royal.Com 2003, The failure of HIH insurance. Viewed at 4th September 2017 from; https://www.hihroyalcom.gov.au/finalreport/Front%20Matter,%20critical%20assessment%20and%20summary.HTML#_Toc37086537 KehlD 2001, HIH Insurance Group Collapse; Viewed at 4th September 2017 from;https://www.aph.gov.au/library/INTGUIDE/econ/hih_insurance.htm Khan, IR 2017, Critically evaluate the main reasons for ABC Learnings collapse; Viewed at 4th September 2017 from; https://supervmarketing.blogspot.co.ke/2017/05/critically-evaluate-main-reasons-for.html Kruger, C 2011, Numbers finally start to add up as operators go back to basics; Viewed at 4th September 2017 from; https://www.smh.com.au/business/numbers-finally-start-to-add-up-as-operators-go-back-to-basics-20110121-19zy6.html News archives 2001, One.Tel acquires new customers; Viewed at 4th September 2017 from; httn://www.egoli.com.au/newsandviews/archives/13765.html Rush, E., Downie, C. (2006). ABC Learning Centres. A case study.finance