Monday, September 30, 2019

Terrorism vs. Revolutionary

Terrorists and revolutionaries are on two sides of a wide, prominent schism. While both a terrorist and a revolutionary wish to create pivotal change, terrorists use violence nondescriptly to influence those around them, whereas revolutionaries value the process of achieving their goal as well as the goal itself. Terrorism is a word that seems to permeate modern media. Not a day goes by that the average American hears of the activities of a terrorist group halfway around the world. It’s easily observed that we dislike terrorists.In the context of American politics, we don’t dislike them so strongly just for their push for religious conservatism, but rather for their violent and random attacks against innocent civilians. They are radically hateful toward their ideological enemies. Which is not a relatively uncommon concept – however, terrorism has the word ‘terror’ at its core for a reason. A terrorist like Osama bin Laden, for whatever motive, wishes to affect the world politically by terrifying people into some sort of action.In the field of political science, this is the definition, and historically it has been used the same way. Terrorists don’t care how many people are injured by their actions. If anything, they encourage it, because that will attract more attention to their cause. And change does occur, too. For example, in pre-9/11 days, there was little security in airports. Now citizens have to submit to government agencies like the TSA searching them for harmful non-regulation items – everything from guns to medium-sized bottles of shampoo.Unlike revolutionaries, there are even different sub-groups of terrorism. Eco-terrorism, a new term come to light, describes someone with environmentalist motives using violent actions to urge the government to be environmentally friendly. Such instances include threats to blow up bridges or dams that cause damage to nearby ecosystems. Environmentalist and eco-friendly views are not out of the ordinary – but threatening to explode a bridge certainly is. Terrorists are otherwise referred to as extremists, because their methods of inciting change are very extreme indeed.News stories of terrorists usually involve attempted harm to civilians through bombs and explosives, whether through the mail, or underneath cars, or within an airplane thousands of feet into the atmosphere. If anyone else wanted to change politics in the US, a responsible citizen might pass around a petition – but not a terrorist. The only want to change the world in ways that harm others and cause needless violence. Revolutionaries, on the other hand, do not believe that the ends justify the means. Thinking of revolutionary figures, people like Isaac Newton, or Ralph W.Emerson come to mind. These are people who desired to change their world and did so – creating pivotal alterations and thereby becoming immortal in their various fields. They aren’t called terrorists because they didn’t behave like terrorists. Their effect on the world was done peaceably and with no violent intent whatsoever. For example, Martin Luther King Jr. is seen as a potent revolutionary in civil rights. In an effort to dispel the injustice he saw toward his people in America, he held famous demonstrations throughout the south.These demonstrations are mot famous because they were violent or destructive; on the contrary, King put an emphasis on non-violent civil protest. He was a revolutionary anti-segregation figure, and not a terrorist, because he did not use extreme and violent methods to get his views across. In conclusion, although both revolutionary figures and terrorist have high ambition to change current policy and perception; however, terrorists use violent and injurious ways to get attention whereas revolutionaries have peaceful means to acquire a goal.

Sunday, September 29, 2019

Appeals Against Assessment Decisions

Appeals against assessment decisions It is the intention of XXX that the assessment process will be transparent fair and just for all learners. All learners have the right to appeal against any assessment decision. Any learner may appeal against an assessment decision if they feel: * Unfairly treated * The assessment decision to be wrong or invalid * The assessment process to be unfair or wrongly carried out * The assessment or teaching methods to be inappropriate * The assessment process to be unreliable or inconsistent * The course work and content did not meet the course outlineA copy of this policy will be publicly displayed. A copy of this policy will be provided to all learners and discussed during induction. Written records will be kept of all appeals. At any stage any learner can seek the support of an advocate or friend to assist them to deal with their appeal. The stages of the process will follow: Stage 1. In the first instance concerns should be discussed with tutor. The tutor will reply to concerns within five working days. The concern will be given both verbally and in writing. Stage 2.If the concern is unresolved informally, the appeal or complaint can then be made in writing to the Programme Manager (Regional Volunteer Coordinator) at XXX. The appeal will be investigated, assessed and a decision will be given in writing within 14 days. Stage 3. If still not satisfied with the result of appeal a request for the appeal to be forwarded to an Appeals Committee will be granted. The committee will consist of the organisations Deputy Director, a member of the projects Steering Committee and another network member. The committee will respond to your appeal in writing within 4 weeks. The result of the Appeals Committee is final.

Saturday, September 28, 2019

The Future of IT and Paradigm Shift Term Paper Example | Topics and Well Written Essays - 1750 words

The Future of IT and Paradigm Shift - Term Paper Example In fact, the majority of business organizations have started marketing and advertisement of their products and services to customers by means of broadcasting media. On the other hand, the customers are now seen as the receivers of products who can actively respond with regards to promotion, segmentation, and distribution. In addition, through a potential increase in the division of labor, interest of businesses as well as protecting distribution channels, the trade with customers is frequently indirect as well as monetized, and it has only happened due to the ever-increasing adoption of new technology-based platforms and arrangements. It is an admitted fact that because of growing complexities and competitiveness of these days’ business environment, the focus is shifting from the producer to the consumer and offering them a great deal more improved services. In this scenario, the information technology is playing a significant role and helps the business organizations in achie ving these goals (Korhonen, 2010; Norton, 2001; Turban, Leidner, McLean, & Wetherbe, 2005). This paper will discuss the role of information technology in today’s business environment. ... According to their viewpoint, effective and supportive technology based shifts are essential for the reason that significant transformations in veracity demand a shift in conceptualization. For instance, when the 20th century began the demonstration of science started to increase problems those were not simply explained by Newtonian physics. In order to resolve this issue, a new paradigm is known as â€Å"Einstein's Special Theory of Relativity† appeared as a novel and more wide-ranging theory and structure to clarify the new certainties. Additionally, the idea of a paradigm shift was initially initiated by a philosopher and science historian Thomas Kuhn through his book, which was published in 1962 (Tapscott & Caston, 1994; EIE, 2003; Somani & Kher, 2006). In addition, similar to a new enterprise of the venture, the new technology paradigm also demands variations. Same as an innovative enterprise it is open as well as networked. Additionally, it works approximately similar to people do, as it pays no attention to boundaries between text, data, voice and image and works like a bridge between team members in a team-oriented company. Also, it smudged walls among enterprises by allowing them to effectively communicate with outside associations. The most important advantage of this technology shift is that it has developed to the point where it is easily accessible and reasonably priced. In view of the fact the longer a business organization waits to decide and implement a change the more, it has to spend, no matter in the short term.

Friday, September 27, 2019

Free Market Commitments of the European Union on a Pragmatic Practice Research Paper

Free Market Commitments of the European Union on a Pragmatic Practice Basis - Research Paper Example The European governments had to remove all forms of tariffs and measures equivalent to quotas. Restrictions on the freedom to supply services are lifted. However, the Non-Tariff Barriers (NTBs)still since the Rome Treaty provided the Community institutions with powers to control the NTBs. The SEM had a common currency. The euro, which was introduced in 2002, is the single European currency which had replaced the national currencies of the 27 member countries of the European Union (euroland) that began on 1 January 1999. The exchange rates of the euroland countries were fixed to the euro. While marking a milestone in the European Union's economic integration process, the launch of the euro has significance beyond Europe. Some economists and financial experts believe the euro could become a major international currency that can pose a threat to the US dollar. The European Competition Policy applies rules to make sure that companies compete with each other and, in order to sell their pr oducts, innovate and offer good prices to European consumers. The economic core of the EEC called for the free movement of goods, capital, services, and people among its original members. For instance, Article 81 of the Maastricht Treaty, which helped establish the EU, refers explicitly to the prohibition of practices which "limit or control production, markets, technical development, or investment." To implement the EU’s competition policy, there are designated competition commissioners. All 27 national competition authorities in the EU are able to apply EU rules at their local level in consultation with the Competition Commission.

Thursday, September 26, 2019

Evaluation for the English 1100 Reading Materials Essay

Evaluation for the English 1100 Reading Materials - Essay Example e sentence would make anybody who has studied world history remember Adolf Hitler, the man behind the holocaust, and the horror his regime had brought to the world. People would also be curious about â€Å"Rooftop fish farms†, the title of the other article because everyone knows farms are created on the ground and not elevated. Curiously, the articles are only similar because of their interesting titles and the fact that they are both essays. Their organization, development and reliability are different. Clearly, one of the articles can be considered reliable and accurate. The article about security in Germany and neo-Nazis was written by Katya Adler and appeared on the website of BBC News. Since news companies are supposed to carry pertinent information around the world to readers, it can be said that the story came from a credible source. BBC News is well-known in the field of journalism and has established itself as a trustworthy source of information. Meanwhile, Katya Adler is a British journalist who has been with BBC from 1996. (Katya) On the other hand, the other article about rooftop fish farms does not include any writer or source. There is only a date above the title. In organization, the two articles are also dissimilar. The BBC news item starts off by saying that police in Germany are looking to arrest far-right fugitives and the state is moving to stop the far-right National Democratic Party (NDP). Supposedly, three people had made a video recording where they â€Å"boasted of the killings... describing themselves as the National Socialist Underground- echoing the national socialism (Nazism) of Hitler’s Germany.† (Adler) These people were not discovered until late November of 2012 but the killings had happened from 2000 to 2007. The news article was only a page long and was simply written. An essay usually has one main idea, found in the first paragraph, which controls all the ideas in the essay. In explaining this idea, the different supporting

Wednesday, September 25, 2019

AI Theory Article Example | Topics and Well Written Essays - 750 words

AI Theory - Article Example Shannon, August 31, 1955: "We propose that a 2 month, 10 man study of artificial intelligence be carried out during the summer of 1956 at Dartmouth College in Hanover, New Hampshire. The study is to proceed on the basis of the conjecture that every aspect of learning or any other feature of intelligence can in principle be so precisely described that a machine can be made to simulate it"2. Centuries before McCarthy coined the term AI, early traces of AI emergence can be found during the time of the ancient Greek Gods; the myths of golden robots created by a Greek God; Hephaestus3. The attempt to create AI could also be seen in the form of sacred statues worshipped in Egypt4 and Greece5. In medieval times, existence of AI was supported by claims made by alchemists e.g. Paracelsus created artificial beings6. Other examples of AI can be seen from the realistic clockwork imitations of human beings built by people like Yan Shi7, Hero of Alexandria8, Al-Jazari9 and Wolfgang von Kompelen10. AI was also present in famous modern fiction such as Mary Shelley's classic Frankenstein and the film Artificial Intelligence:A.I. The modern history of AI includes the birth of computers that were intelligent enough to solve word problems in algebra, proving logical theorems and speaking English. The early 60s saw AI gaining popularity as evidenced by the generous fund provided by the US Department of Defense for AI research. The artificial research however met the doldrums in 1974 with funds on exploratory AI being cut off. The AI research was resuscitated in the early 80s with the commercial success of expert systems that applies knowledge and analytical skills of one or more human experts. By 1985 AI market reached the value of more than a billion dollars11. The AI market again fell into despair with the collapse of the Lisp Machine market in 198712. The highlight of AI success was in the 90s and early 21st century where it was widely used in the technology industry, providing the heavy lifting for logistics, data mining, medical diagnostics and many other areas13. The general theory for AI is mainly based on several characteristics found in normal human being such as deduction, reasoning, problem solving, knowledge representation, planning, motion and manipulation, and perception, amongst others. When solving puzzles, playing board games or make logical deductions a normal human being would go through the process of conscious and step-by-step reasoning14. These traits were successfully imitated through algorithms developed by early AI researchers. Nonetheless, AI researchers have yet to unravel the methods of replicating human traits in solving problems using unconscious reasoning. In order for the machines to solve problems, it needs extensive knowledge about the world e.g. objects, properties, categories and relations between objects15; situations, events, states and time16; causes and effect17. Most knowledge is difficult to be represented due to 3 reasons; default reasoning and the qualification problem, McCarthy [1969]18, unconscious know ledge and the breadth of common sense knowledge. In solving planning problems, the intelligent agent must have the ability of setting objective and achieving it19, thus it needs a way to visualize the future; i.e. having a representation of the state of the world and be able to make predictions about how their actions will change it. The

Tuesday, September 24, 2019

Summary of Peer Reviews of the Protagnonsts on Frankenstein Essay

Summary of Peer Reviews of the Protagnonsts on Frankenstein - Essay Example The thread depicts that these protagonists are similar, because they all covet something that is missing in their lives, but having what they want does not make them happy at all, and instead, they have lost everything in the end. The majority of the class agree that Victor and Frankenstein are similar in many ways, where the creator and created become one in motivations and consequences. Victor and Frankenstein are the same, because of their thirst for knowledge. Several students assert that Victor is hungry for knowledge, so he yearns to learn the ultimate knowledge, the ability to create life like a God. At the same time, Frankenstein shares the same need for additional knowledge. Like his master, however, the further he learns, the more he realizes how physically revolting he is and how little happiness and acceptance he can find in human society. The irony is that the more these protagonists acquire knowledge, the more miserable they become. Keri stresses the irony of both learn ing the highest kind of knowledge and still ending up being more miserable because of it: â€Å"At the apex of his learning, when he discovers the genesis of life, he becomes most miserable.† The same also happens to Frankenstein. ... Victor’s and Frankenstein’s self-loathing also leads to destructive paths that have destroyed them and the people around them. Victor and the monster are also comparable, because of their self-loathing for the consequences of their actions. Victor lives in agony, because he knows that his poor choices have caused tragedy for his family and himself. The monster also loathes himself and Victor, so he acts against his master’s family instead. Frankenstein’s loathing can be seen as a spillover of Victor’s loathing, and this vicious cycle harms Victor to a greater extent as the novel progresses. Darci makes an interesting point when she highlights the difference between Victor and Frankenstein’s self-loathing. For her, Victor brought his misery upon himself, while Frankenstein was a victim of his creator and other external circumstances. In the end, Victor is still the main person to be blamed for the tragedy in their lives. Several students react on Keri’s observation that Walton and Frankenstein are also similar, because they both need companionship due to their loneliness, and yet they do not find anyone who can truly be there for them as friends. Keri focuses on the similarity between Walton and Frankenstein, which other students have not pointed out, because the latter both need someone to love and they similarly look up to Victor to â€Å"end their loneliness.† Stephen and Raymond agree with Keri that loneliness is a primary similarity for Walton and the monster, while Randall and Taylor note the importance of looking not only at what characters look like, but also â€Å"what they want.† Their driving force for companionship

Monday, September 23, 2019

Eng essay 2 Example | Topics and Well Written Essays - 500 words

Eng 2 - Essay Example Their intention is to showcase their masculinity; thus, they put on T-shirts and flex their muscles. The photographers comprise people who are preoccupied with taking photos. It seems they are fascinated by their progress in gaining muscles. Indeed, they constantly look at themselves in the mirrors, and even spend most of their time taking photos rather than exercising. The newbies consist of people whose main goal is to observe others exercise. They rarely work out. However, in some cases, they can engage in light exercises. The novices comprise people who are out to learn new things. They listen carefully to their trainers, and even ask many questions. I consider myself a member of this group. Lastly, the businessmen consist of people who work in professional organizations and come to the gym to exercise. They can be identified easily from the number of calls they receive. Apart from categorizing gym attendees, I also discovered that people go to the gym for various reasons other than to exercise. For instance, the beauty queens, a group of young ladies who put on heavy make-ups, go specifically to grace the venue. They do not go to exercise. In fact, from their dressing, one can tell that they are not interested in exercises at the gym. Indeed, they dress as if they are attending a party. On the other hand, there is a group I call the chatterboxes. The group comprises people who go to the gym specifically to gossip; they do not exercise. Lastly, there are the date-seekers. They are groups of men who go for girls, particularly for dating. In fact, they go for the beauty queens. Although I do not consider gyms the best places to find girls to date, the group makes an attendee’s visit enjoyable. My visit to the gym was also made enjoyable by other people and the way they used the equipment. It was interesting to watch people strain while using the gym equipment. Some of the equipment included treadmills, elliptical

Sunday, September 22, 2019

Ethics of Human Cloning Essay Example for Free

Ethics of Human Cloning Essay In 1971 James D. Watson claimed that one day human cloning would be workable and noted that â€Å"as many people as possible be informed about the new ways for human reproduction and their potential consequences, both good and bad†(Burley and Harris 2001, p. 69). Watsons statement was given little attention. In 1997, the birth of Dolly, today the worlds most famous sheep, caused widespread public excitement. Dolly became artificially produced clone and proof that cloning large animals like sheep or humans would be possible. More importantly perhaps, Dolly raises many different sorts of important questions for human beings. Human cloning has been met with widespread unease all over the world and generated a series of ethical issues that will be discussed in this paper. Main Body In opposition to productive cloning it is asserted that the method would be causing danger to human beings. For example, Dr Harry Griffin, the director of the Roslin Institute, Scotland, that successfully cloned Dolly the sheep indicates that: It would be irresponsible to try and clone a human being, given the present state of the technology†¦. The chances of success are so low it would be irresponsible to encourage people to think theres a real prospect. The risks are too great for the woman, and of course for the child (Griffin, 2001). However, while the possible success regarding human cloning may be low and there may be risks of undeveloped embryos, against this it could be claimed that similar arguments could have been directed against the potential efficiency of in vitro fertilization techniques (IVF). IVF was once considered unsuccessful but today is a well-developed and valued treatment for infertility. IVF would never have developed if negative reasons such as this were successfully used to oppose it. A second concern on the subject of human cloning is about the motivation of those who would want to clone themselves and others. On the one hand, it might be accepted that human cloning would make possible for infertile couples to produce genetically related children. On the other hand, there seems to be a worry that people may use human cloning not in order to found a family but with purpose to make a copy of themselves. In addition, there may be people who hope to produce copies of other living or dead individuals. For example, it was this motivation for cloning that was the theme of the fictional film The Boys from Brazil. In the film Hitlers genotype was cloned to produce a Fuehrer for the future (Harris 1998, p. 169). However, any clone of an existing person will not be a copy of that person. Having the same genotype as another individual does not make a clone the same individual and it is probable that effects from the egg and from the environment would make any clone considerably different from their genetic twin. While this may be so, it could be likely that those who employ human cloning with purpose to produce a copy of themselves or others will not be proper parents. As a result, the welfare of any produced child will suffer. The motivation of many parents to produce a child may also not withstand close examination. What would be a good motivation for wishing to have a sun or daughter? It could be claimed that all motivations to bring to birth a child are based, at least to some degree, on the selfish feelings of future parents. A third main concern on the regard of human cloning involves these kinds of worries about the well-being of the produced child. It may be possible that any child born as a result of nuclear somatic transfer cloning will experience disadvantage either because he/she is robbed of his/her genetic identity or because he/ she will not have an open future (Harris 1998, p. 169). To what extent is a cloned person robbed of his/her genetic identity? While most human beings are genetically unique, there seems to be no indication that permitting the birth of genetically identical twins derived from a single fertilized ovum robs anyone of their genetic identity or even that the fact that twins of this kind share a genetic identity is causing harm to these individuals. It could be stated, therefore, that it thus seems not clear why this factor should make human cloning unethical. It has been indicated (Holm, 1998) that clones created by means of nuclear somatic transfer cloning will live their lives in the shadow of their older genetic twin. As a result, the clones will not have the open future that most of ordinary people have and, it might be argued, human beings have a right to. Soren Holm, for example, argues that: Usually when a child is born we ask hypothetical questions like How will it develop? or What kind of person will it become? and we often answer them with reference to various psychological traits we can identify in the biological mother or father or in their families†¦In the case of the clone we are, however, likely to give much more specific answers to such questions. Answers that will then go on to affect the way the child is reared (Holm, 1998, pp. 160-161). Holms point of view is that producing a clone that lives life in the shadow of an older genetic twin is unethical as: It diminishes the clones possibility of living a life that is in a full sense of that word his or her life. The clone is forced to be involved in an attempt to perform a complicated partial re-enactment of the life of somebody else (the original) (Holm, 1998, p. 162). This means that while people usually claim for the importance of the moral principles of respect for individual autonomy or the power to make a decision for oneself without influence from outside, people are violating these principles by robbing clones this opportunity to live their lives in the way they want. The way the clones were produced will putt them in a position where they are living in a shadow. However, even if this claim is true that clones would live in the shadow of their genetic originals, it is not obvious that this fact should compel people to prohibit human cloning. Arguments that compel people to consider the well-being of a resulting child are questionable. It has been claimed that a person is only wronged by being brought to birth if he/she has a life so bad that it would be a cruelty rather than a kindness to bring it into existence (Bennett and Harris, 2002, p. 323). This kind of unfortunate existence is sometimes characterized as an unworthwhile life. An unworthwhile life would be a life of extremely negative experience and worsening. Other lives that may be not perfect, but not so worthless as to deprive that individual of an amazing experience of living, are termed worthwhile lives. In this regard, the statement is that as long as a person is likely to have a worthwhile life he/she is not disadvantaged by being brought to birth. Thus, even if a human clone is likely to have a life that is somehow less than ideal, his or her suffering is unlikely to be such that it makes life unworthwhile. It could therefore be claimed that while being born a clone may not be the ideal way of coming into the world, it is the only opportunity of existing in this world and to have a life that is likely to be worth living. If this position was considered, it would establish human cloning as ethically acceptable at least on the grounds of giving the child a right to exist. Conclusion The topic human cloning has a number of ethically puzzling if not problematic features. Cloning will be one of the most hotly debated and least well-understood phenomena in near future. Today human cloning meets with overwhelming opposition. However, it is clear that human cloning turns out to be the perfect embodiment of the ruling possibilities for new age.

Saturday, September 21, 2019

When a Car is More Than Just a Car Essay Example for Free

When a Car is More Than Just a Car Essay The first time I heard the song, â€Å"Fast Car† by Wyclef Jean, I really liked it because it was catchy. After listening to it a few more times, I realized there was a lot of meaning to it. To me, the main goal of this song is to teach the young listeners a difficult lesson to be careful before they do something that could potentially ruin their lives. Also, Jean is showing his listeners there is help out there and tomorrow is not promised – everybody needs take advantage of their available resources so they do not harm themselves. Basically, Jean wants everyone to be careful with the life that they currently have rather than wasting time here on earth. Jean explains his story by using a type of music that will get to young people without making them feel like they are being scolded. He also relates his verses to famous people such as Kanye West, Notorious B.I.G., Tupac, Sean Bell, Left Eye Lopez, and an innocent 16 year old girl; by using this type of song writing style, young people will listen to the song and learn from it rather than avoiding the topic. The first verse of the song is allduding to Kanye West having a major car accident. He was driving home from a recording studio in Los Angelos at three in the morning when he fell asleep at the wheel. He totaled his car and broke his jaw severely. After this accident, Kanye wrote a song called â€Å"Jesus Walks.† It was part of the album called â€Å"Through the Wire,† which Kanye West actually produced while he had wires holding his jaw together(â€Å"Kanye West†). The first verse of Wyclef Jean’s song says â€Å"I heard a man say Jesus walks, me myself I heard Jesus talk.† This line shows how Jesus is real and how both West and Jean have personally had encounters with Him. The next lines say, â€Å"Cause when I heard his beat I felt Jesus force, I heard it Through The Wire that he made it out the coma, from a fast car.† This line shows West’s devastating accident and the aftermath of it. Kanye was in a coma and nearly died because he failed to be responsible with his car. The purpose of verse one is to show the list eners that driving at late hours of the night or while tired is not safe. It is better to stay somewhere rather than risking a life by driving a car. West was lucky to survive his accident; not all situations have fortunate outcomes however. West dealt with a lot of pain personally, while other peoples’ problems involve their enemies. The second verse of this song is about Tupac and Notorious B.I.G., who is also known as Biggie. Tupac and Biggie had a feud that went on for days before anything was done about it. Biggie was a bad boy, and Tupac was an outlaw. This is explained in the song when Jean writes, â€Å"Some of us are Bad Boys, Some of us are outlaws.† Biggie took the name â€Å"Bad Boys† when he and his producer decided to pair up to make music. Tupac was considered an outlaw because he did not necessarily have any place where he belonged. One day, during November of 1994, Biggie shot Tupac multiple times in the lobby of a recording studio in New York and stole a large amount of jewelry. Everyone suspected Biggie, but he denied it and never got the full blame for it (Huey). During the song, Jean says, â€Å"Unsolved mystery, the killer gets away.† It is very clear he is talking about the incident between Biggie and Tupac. Eventually, their dispute carries on into Vegas and LA, where Tupac is murdered in his SUV from a shot by a neighboring car. The song also explains this because Jean talks about the drama moving on to Vegas and LA and driving a fast car. This rivalry was out of control, especially when Tupac was eventually murdered. Everyone thought the world would become a better place because people would learn from the situation. This was not the case, however, because the rivalries got bigger and America became more violent in the 20th century. Jean is once again trying to show everyone the importance of our lives; he does not want anyone to get into trouble so badly that their lives are ultimately ended by the violence. The chorus speaks the loudest in terms of meaning of the song. The first half is, â€Å"you don’t got to be no billionaire, to get a ticket up to the moon. We all know somebody up there, you need a helping hand, look, I’m right here.† Basically, Jean means everybody goes to the moon, or heaven, one day. However, a person does not have to be rich to take a trip up there. We all know people who have passed away and gone to heaven; it is never easy to say goodbye to people who leave Earth. He wants everyone to know that there is plenty of help on Earth. Jean does not want anybody to mess up their life to the point that it isn’t worth it to fix it. This part of the song has the most symbolic meaning. Cars symbolize the journey of life – from birth to death, just as they help you travel from one place to another. Jean uses the verses to show literal meanings of why we need to be careful with cars; he uses the chorus to show the symbolic meaning associated with fast cars and why they have the ability to be so dangero us. Also, he prefers not to have any hardships to control his listeners’ lives either. The verse goes on to say, â€Å"†¦to help you see clearly now.† Jean wants to be the helping hand for everybody. Why die, when you could fix your problems and live as a happy individual? The whole purpose of the song is to be smart and not let our cars or problems control us. The bridge of the song emphasizes the dangers of cars. A person might be drinking or not in the right mental state to drive, however if they pick up their friends to drive, most of them will probably get in the car. Paul Simon comes into the song at this point and says, â€Å"When that fast car picks you up, you will have no choice. You may hear the tires screaming, but you will have no voice. But as the fast car picks you up, you will weep and smile. And see heaven in the headlights, mile after, mile.† This is a very good representation about what life is really like. People don’t want to stand up to their friends because they will be the only one. However, making the choice to not spe ak up might cost a person their life. Even if it does not ultimately end their life, they will feel regret as they â€Å"see heaven in the headlights, mile after mile.† People know they are making a mistake by getting in a car with people who have been drinking. Yet most people just go along with it in order to fit in. The danger with cars is they do not seem like weapons and people are not very careful with them because they see them as a toy. They can be a weapon though because they can easily hit somebody and injure them or the people in the car. After this song, hopefully everybody begins to see the importance in safety and good decisions. Jean is not even close to done – he keeps bringing in more examples so he can really get is message across. The third verse of this song references the Sean Bell shooting that occurred in November of 2006. Bell held his bachelor party at a Queens Strip Club in New York City. He was drinking and then got into his Nissan Altima with two of his friends. He began to drive and he ran into a New York officer. The rest of the officers thought Bell was a danger so they began to shoot at his car. They killed Bell while injuring two of his friends. All together, they shot 51 times. The officers involved in the incident were indicted, â€Å"charging the two who had fired the bulk of the shots, Detective Michael Oliver and Detective Gescard F. Isnora, with first-degree manslaughter, and the third, Detective Marc Cooper, with reckless endangerment† (â€Å"Sean Bell†). This is explained in the song when Wyclef Jean writes, â€Å"what would you do after your bachelor party? In the bar celebrating with all your homies,† and â€Å"over fifty one shots but you ain’t ready to die.† Jean shows how everybody has a bachelors party and makes bad decisions, but that does not mean he or she deserves to die, or wants to die. Bell made a bad decision by getting in his car when he was under the influence of alcohol, howeve r he did not think it would cause him his life. Jean is showing his listeners a lesson through Bell’s story. He is showing the importance of responsibility, especially when people are under the influence of alcohol. Nobody wants to die, especially right before their wedding. Jean’s lesson is to be careful and mindful of our actions. The fourth verse of the song is about a member of the hip-hop band, TLC. Her name was Lisa – left eye – Lopez and she was on a spiritual trip to Honduras to get her life in order (â€Å"TLCs Lisa Left Eye Lopes dies in wreck.†). Jean explains this by saying, â€Å"Everybody needs some TLC, so she headed to Honduras for some TLC (Tender Loving Care).† Lopez died an innocent death. She was a passenger in a van; she died instantly, while the other seven passengers were uninjured. Jean states, â€Å"Well she was a passenger, never a driver, in that fast car.† At this point in the song, Jean turns to people who are trying to save their lives, yet they still suffer deaths. Lopez was on a journey trying to figure out her problems, but she was killed by a dangerous fast car. She was not ready for heaven, but she ended up taking her trip early. The fifth and final verse of the song is about an innocent 16 year old girl who just had her sweet sixteenth birthday party. She was crossing the street when she was hit by a car and died. The verse says, â€Å"Sweet sixteen, I see her leaving the scene. Crossing the street, she won’t see seventeen.† The person that hit her was under the influence of alcohol. Just as Jean says, â€Å"Blink of an eye, DWI. Hit and run, the assailant flees, in that fast car.† This verse goes along with the chorus very well because the girl was innocent, not ready to die, and she probably was not going through anything difficult that caused her to want to end her life. Instead, she was the victim of a fast car and bad decisions that ultimately ended her life. This song is full of meaning and lessons that meant to be passed on to the reader. Jean is looking out for his listeners while he sings this song. My favorite part will always be, â€Å"You don’t got to be no billionaire, to get a ticket up to the moon.† This line defines the song; it is all about safety and using street smarts so we do not die prematurely. I like to be adventurous and live my life to the fullest, but safety always comes first. I would feel terrible if I left my family behind by making a bad decision – we have to think about our own safety, as well as the way life would change for our loved ones if we took our trip to the â€Å"moon.† This song made an impact on my life, and I hope it changes other peoples’ lives too. Works Cited Huey, Steve. â€Å"The Notorious B.I.G.† Bad Boys Forever. Bad Boys. 2002-2010. http://www.badboyforever.com/artists/the-notorious-big. 21 Feb 2011. â€Å"Kanye West.† Chicago Tribune. Chicago Tribune. n.d. http://www.chicagotribune.com/topic/entertainment/music/kanye-west-PECLB004230.topic. 21 Feb 2011. â€Å"Sean Bell.† NY Times Online. NY Times. 28 July 2010. http://topics.nytimes.com/top/reference/timestopics/people/b/sean_bell/index.html 21 Feb 2011 â€Å"TLCs Lisa Left Eye Lopes dies in wreck.† CNN Entertainment. CNN. 26 April 2002. http://articles.cnn.com/2002-04-26/entertainment/obit.lopes_1_watkins-and-thomas-tionne-t-boz-watkins-rozonda-chilli-thomas?_s=PM:SHOWBIZ. 21 Feb 2011.

Friday, September 20, 2019

The US and UK takeover regulations

The US and UK takeover regulations A takeover of a public company is the purchase of one company whose shares are listed on a stock exchange by another. Empirical evidence on takeovers suggests that they generally create value. The question is why have the UK and U.S- two countries with ostensibly similar systems of corportate governance taking different routes when it comes to regulating takeovers. A rich analysis draws from each countrys historical development, focusing on the shareholder-oriented regulations in the UK and the defence managerial tactics employed in the U.S. This paper would critically analyse the views of the writers of the Divergence of U.S and UK Takeover Regulation written by Armour and Skeel JR, both well seasoned Professors of Law, a thorough analysis would be made of hostile takeovers and the reasons why takeover tactics in the UK is regarded as a better option. An analytical framework would be used explain the diversity in the systems of takeover in the UK and the U.S. subordinate lawmakers such as Judges have had the herculean task of filling the unintended vacuum and consequences of legislation in the two countries that had other objectives at the time of enactment. An examination of the way regulations took shape in the UK and the U.S as the goal is to gain an understanding of the defensive tactics adopted and used frequently in the U.S but is frowned at and has dire consequences if adopted in the UK. Earlier case examples from each jurisdiction would be analysed to gain understanding of why different takeover regulations are used. In the UK, defensive tactics by target managers are prohibited, whereas in the U.S, Delaware law gives managers a good deal of room to manoeuvre  [1]  . The primary focus of this essay is to provide a simple yet thorough framework to understanding defence tactics, what it is; why it is so successful in the U.S and is prohibited in the UK. Clearly the two ways of takeover regulations appear to work fairly well in each jurisdiction and despite the authors of the articles view one must never forget that because the UK methods seem more share holder oriented and works very well, it does not mean there is any anything wrong with the method used in the U.S. In a takeover bid, accounting and law firms are hired to conduct Due Diligence- Lawyers review contracts, agreements, leases, current and pending litigation and all other outstanding or potential liability obligations so that the buyer can have a better understanding of the target companys binding agreements as well as overall legal related exposure. The facilities in the company and capital equipment also need to be inspected so as to avoid unreasonable expenditures in the first few months of acquisition  [2]  . The first section of the essay would look at an overview of the history of business law development and corporate governance in the UK and the U.S. the takeover development and institutional responses to them. The second part looks at the US and UK takeover regulations and their differences. Also legislation that have been implemented and the fact that despite legislation, subordinate lawmakers make rules that govern the process of takeovers. Who are these subordinate lawmakers and why do they appear to have so much discretion as to what becomes a rule? They include a diverse range of characters from Judges to interest groups (Institutional investors). The identity of the subordinate lawmaker, in turn has major consequences for both the substance and the enforcement of the regulatory rules  [3]  . Various case examples would be used to explain the difference in takeover methodology in the UK and the U.S, objectives of takeovers, the disciplinary hypotheses of the importance of ta keover regulations. Finally, proposed reforms in the US and UK and a conclusive summary on the issues of hostile takeover tactics. History The UK and the US are distinguished from other jurisdictions based on their high levels of takeover activities; in contrast Europe has a little or no market for corporate control (Franks and Mayer, 1996). The UK does not have the federalist structure of the U.S which does not allow room for corporate managers to exert influence. In the U.S the Delaware jurisdiction became the sole source of rules on takeovers more so, hostile takeovers. The U.S takeover regulations give target managers discretion to defend a bid whereas in the UK the shareholders make the decision. Delaware have a monopoly and is home to about 60% of the largest corporations in the country. Due to the amount of tax and other benefits that Delaware State enjoys from these corporations the State is attentive to the managers needs and the state lawmakers have an incentive to keep the managers content. The Legal rules have to be amenable so that unprecedented cases can be brought cheaply and quickly after has been a chan ge in business practices so as to allow the precedent cases to be developed and updated. The Delaware takeover doctrine was firmly established in the 1990s- that US institutional investors became a significant force in corporate governance  [4]  unlike their UK counterparts that embraced the importance of the concept of institutional investors. Corporate takeovers tend to improve not only the stock prices of the companies involved but also the stock market overall. Although there is a substantial increase in the targets companys stock price, the outcome for the acquirer and the market over time however is considerably negative. Also some ill-fated takeovers turn into an embarrassment for the parties involved for example the merger in 1996 of San Francisco banking giant Wells Fargo and its Los Angeles rival First Interstate Bancorp in an $11.6bn hostile takeover, the merge led to many of the latter companies executives leaving, account errors appeared in the companys account and the problems were visible to the customers. In the UK, lawyers play a relatively little role in takeover bids, complaints and law suits are made to the Takeover Panel located in the London Stock Exchange building. The Takeover Panel includes representatives from the Stock Exchange, the Bank of England, major merchant banks and institutional investors  [5]  . The Takeover Panel is a body that administers a set of rules known as the City Code on Takeovers and Mergers. The Panel and the rules were self-regulatory until around 2007 when the EU directives have been implemented into the UKs regulations and have a statutory underpinning designed with the objective of maintaining the characteristic features of the Panels approach, which is based on self-regulation. In the U.S however, takeover regulations are moderated principally by the Securities and Exchange Commission which ensures that disclosure and process rules are adhered to. A managers response to a takeover bid in the U.S is regulated primarily by the Delawares Chancer y Judges and Supreme Court- the key players here are lawyers and judges. U.S takeover Takeover offers are regulated under the Williams Act Amendments to the Securities and Exchange Act (SEC) 1934. The act was created to provide governance of securities exchange in the stock market, all the companies listed on the stock exchange must follow its requirements. The SEC is regarded as relatively share-holder friendly, however managers are known to sometimes adopt a hostile approach to takeovers and they adopt defence mechanisms such as poison pills or shareholder right plan which are designed to ward off a hostile bidders stake particularly if the bidder acquires more than a specified proportion of target stock, usually 10-15 percent. The poison pill is a defence tactic that allows companies to thwart hostile takeover bids from other companies, examples of the poison pill include Flip-over Rights Plan, Flip-in Rights Plan, poison debt, voting poison pill plan etc. The managers of a company that use the poison pill defence and a staggered board of directors have almost complete discretion to resist an unwanted takeover bid, the poison pill is a method that is slowly declining in the last couple of years. The U.S tender offers are generally not share holder friendly, in the case of Atmel Corp a maker of microchips used in video game controllers, successfully defeated a challenge by investors using the poison pill tactic. Some shareholders who sued over the failed buyout by Microchip Technology Inc stated that the revisions made by Atmel were vague, a Delaware state judge rules in Atmel Corps favour. State statute such as Section 203 of the Delaware General Corporation Law furthers the federal policy of investor protection. It was enacted to protect shareholders from the coerciveness of two-tier offers by preventing the offer unless the targets board of directors and in some instances the shareholders approves, the legislation has been successful in stopping such coercive practices. Section 203 also gives target boards some authority in resisting unwelcome, under priced tender offers that are not beneficial to shareholders. In the BNS Inc v Koppers Co., the U.S District Court explained that Section 203 does not stop the aims of the William Act even though it may give target boards significant advantage in preventing un-solicited takeovers. To the contrary, the statute may have substantial deterrent effects on tender offersà ¢Ã¢â€š ¬Ã‚ ¦so long as hostile offers which are beneficial to target shareholders have a meaningful opportunity for success. Section 203 does not have to let bad offers succeed to be constitutional, and in fact, if it did let bad offers succeed, it would frustrate, and not further, the Williams Acts purpose of investor protection. In BNS , the district court concluded that, on this record, the statute appears to offer hostile bidders the necessary degree of opportunity to effect a business combination and upheld the statute  [6]  . Another example is the recent April 2011 hostile takeover battle in the U.S between Tenet a hospital chain resisting a $7billion takeover by rival Community Health Systems. Tenet filed a lawsuit stating serious allegations that Community Health Systems is an unfit acquirer because the company has been systematically defrauding Medicare, evidence to support Tenets claim was provided. Not only is this allegation posed to resist a takeover, it can also potentially damage the reputation of Community Health Systems. This case ranks high in the pantheon of aggressive counter punches. The health care in the U.S remains the most targeted industry since 2009 with $179.1bn; accounting for 22.9% of total U.S targeted volume  [7]  . Another case example was AOLs purchase of Time Warner for $164bn at the height of the internet mania; it remains the largest corporate merger in American history  [8]  . Bidders are more likely to enter into negotiations with the targets board which results in a friendly transaction than them making a hostile offer directly to the shareholders. UK Takeover In contrast to the U.S, the UK takeover regulation is shareholder oriented. Managers in the UK are not permitted to make use of any frustrating defence tactics when there is a takeover bid without the shareholders permission unlike their U.S counterparts. The Takeover Code only becomes relevant when there is a bid therefore managers can take advantage of less stringent ex ante regulations well before any takeover bids come to light  [9]  . J.Armour, D.A. Skeel, JR, in their article; The Divergence of the U.S. and UK Takeover Regulation state that the UKs ban on defensive tactics by managers clearly makes it easier for hostile bids to succeed. It is bewildering to find that while the U.S adopts defence tactics measures, figures show that hostile takeovers are less likely to succeed there than in the UK. Case Examples in the UK In Jan 2010, Cadbury ended its nearly 200 years of independence after it was acquired by Kraft, a U.S food giant for 11.9bn pounds. The acquisition led to media frenzy and revived concern over the UK slowly becoming a so-called branch office for foreign companies, the UK Government was powerless to protect Cadbury, a heritage and one of the oldest companies in the country from foreign investment. The financial times stated in a article that erecting barriers is not the answer, the key to solving the problem of foreign business moving their head offices to more favourable jurisdictions is to make Britain an appealing business location, with a skilled workforce and a predictable tax regime. Another case example is the Vodafone-Mannesmann acquisition in 2002 which is still referred to a lot by economists and critics. There have been concerns that hostile takeovers can take place provided that there is a simple majority vote from shareholders. The Government wants reforms to change this to two-thirds of shareholders and the bidders must be subject to the same rules. Figure 1 below shows that the performance effects of takeovers differ by industry, some industries such as insurance companies have a higher number of takeover bids as opposed to banks that have a lower number. Figure 1 Beneficial Ownership of UK shares end-2008 (Source: Office of National Statistics, Share Ownership 2008) Difference between the US and UK takeover regulations The most significant difference between the two countries is not the substance but the mode of regulation. The U.S depends on formal law such as the Delaware law while self-regulation is the norm in the UK. In the Kraft-Cadbury takeover in the UK there was an outcry for change in the regulation as Cadbury was unable to defend itself to the same extent as a US company in similar circumstances, control decisions were made not by the directors but by short term investors. Leading U.S law firms such as Wachtell, Lipson and Cravath that specialise in Mergers and Acquisition (Hereafter MA) oriented practice generate significantly more revenue per lawyer than their UK counterparts. Importance of Takeovers- Disciplinary Hypothesis A takeover is sometimes used as a measure to restructure poorly performing companies. Critics and economics have long argued that the likelihood of competition in capital markets and the threat of a takeover is an incentive to discipline self-interested managers. Many writers have suggested a ban on the defence takeover tactics used in the U.S, such as the poison pills, golden parachutes and white knights- stating that these tactics more often than not are used purely for the managers/directors self interest. There have been numerous attempts by the Congress to set up legislative measures to prevent this out right abuse of power by the company managers and to protect the interests of the shareholders. There are however two hypotheses for the purpose of these defences: the shareholder hypothesis (SIH) and the management entrenchment hypothesis (MEH). The SIH is used purely to keep and satisfy the interests of shareholders whilst the MEH is used by the managers/directors of the company intended to be takeover to act in the interest of the shareholders for fear of losing their jobs if the takeover is successful, the end result of the MEH is usually that the shareholders would lose out on takeover premiums that the offeror would have paid. This leads one to question whether the managers pursuing their self interests is a breach of their fiduciary duties to the company and its shareholders, as they have a duty to act in the best interest of the company first and foremost. The managers may use the argument that the two hypothesis work together and that the main reasons for the defence tactics is not for their self interest but to maximise the wealth of the shareholders, a valid argument I daresay, both conflicting views are obviously utmost in the strategies of the management in a takeover power tussle. In the U.S the courts when determining whether a company management is in breach of its fiduciary duties look at the Business Judgement Rule- which provides that a court should evaluate decisions by directors to employ an anti-takeover defence in the same way as they would evaluate any other business judgement  [10]  . Basically anti-takeover defence tactics must be reasonable in relation to the threat posed and made in good faith. If the companys corporate value or shareholders interest could be harmed due to the acquisition of its shares by a specific person or group, the company needs to take substantial measures to raise corporate value and secure shareholders interests to the extent permitted by laws, regulation, and the companys Articles of Incorporation  [11]  . In the UK, the takeover code states in Rule 19.1 that public criticism is one of the disciplinary measures available to the Panel. Rule 19.1 states that each document or advertisement published or statement made, during the course of an offer must be prepared with the highest standards of care and accuracy and the information given must be adequately and fairly presented  [12]  . For example in the Kraft takeover case of 2010, the company promised to keep operational some Cadbury factories, but failed to do so, this led to a public criticism from the press and the Takeover Panel. OBJECTIVES OF TAKEOVER Takeover or merger, in practice, depends upon the motives of the persons behind such move. Generally, the following types of decision limit their choice for a particular firm in which takeover or merger activity could be organised: (1) Acquisition of shares in the target company; (2) Acquisition of the assets of the target companys undertaking; (3) Acquisition for full or part ownership of the target undertaking; (4) Acquisition for cash or for shares or other securities of the Offeror Company or combination of cash and variety of securities; There is not one single reason for a takeover but a multiple of reasons cause which are precisely discussed below: Synergistic operating economies: It is assumed that existing undertakings are operating at a level below optimum. But when two undertakings combine their resources and efforts they with combined effort produce better result than two separate undertakings because of savings in operating costs, combined sale offices, staff facilities, plant management etc which lower the operating costs. Thus the resultants economies are synergistic operating economy. These gains are most likely to occur in horizontal mergers in which there more chances for eliminating duplicate facilities, vertical and multinational mergers do not offer these economies. Diversification: Takeover are motivated with the objective to diversify the activities so as to avoid putting all the eggs in one basket and obtain advantage of joining the resources for enhanced debt financing and better service it shareholders. Such takeovers result in conglomerate undertakings. But critics hold that diversification caused takeover of companies does not benefit the shareholders as they can get better returns by having diversified portfolios by holding individual shares of these companies. Taxation advantage: Takeover take place to have benefit of tax laws and company having accumulated losses may merge with profit earning company that will shield the income from taxation. Growth advantage: Takeovers are motivated with a view to sustain growth or to acquire growth. To develop new areas becomes costly, risky and difficult than to acquire a company in a growth sector even though the acquisition is on premium rather than investing in a new assets or new establishments. (http://jurisonline.in/2011/03/takeover-a-critical-analysis/ Assessed 12th April 2011) Reforms in the UK There was an urgent need for reforms in the UK takeover regulation after acquisition of Cadbury by Kraft. The following are some of the proposed reforms. Proposals to give target companies more protection under the Takeover Code The Government wants the simple majority vote by shareholders to be changed to a two-thirds of shareholders in other to ensure that as many shareholders as possible are supportive of the takeover. The prohibition of any offer related arrangement e.g implementation agreements Reducing the put up or shut up deadline from 2months to 28days- This means that a potential bidder must announce a firm intention to make an offer, declare no intention or ask for an extension of the deadline. If no bid is announced the bidder is excluded out of the market for six months. There have been criticisms that the 28day period is not enough time for bidders to undertake due diligence and arrange financing. Detailed disclosure of advisory fees- there is no requirement at the moment under the Takeover Code for advisory fees to be disclosed. It is intended that any offer-related fees be disclosed in the offer document and targets response. This includes legal advice, accounting and consulting advice, broking advice etc. The proposal disclosure changes are not controversial and in fact tally with the current system in the U.S. Greater disclosure of debt facilities and other instruments to finance an offer- a bidders financing arrangements should be disclosed in any offer documents. This need for transparency and accountability may be prompted due to the recent financial crisis in the UK Provision of better protection of the interests of employees of the target company These proposals were made in March 2011 and a consultation period is open until the 17th of May 2011 after which the UK Panel will then issue a statement with the final version of the amendment, the amendments will be adopted into the UK Takeover Code later in the year  [13]  . Conclusion Even before the financial crisis there have been fundamental reassessments of the value of takeovers in the UK and the U.S. Since the financial crisis most board of directors and managers have been more concerned with running their businesses and staying afloat than with chasing expansion through takeovers. This factual point is true when the probability of a successful merger is far less certain, as in hostile takeover attempts. A hostile takeover presents executive board leaders with unique organisation and people challenges. It is often very difficult to overcome the challenges of acquiring and integrating an organisation and people especially after a hostile takeover. Times like this need a higher level of strategic thinking, flexibility and innovative problem solving  [14]  . This paper finds that the UK takeover regulation despite its numerous advantages is prone to hostile takeovers due to its compliance with upholding the interests of shareholders, while this hostile takeovers act as a form of disciplinary function by restructuring poor performing companies and improving their performance, evidence above stated shows that hostile targets in most cases experience a significant decline in profits and share returns in the first year of acquisition. Despite the criticisms of the U.S system of regulation, hostile takeovers are in decline due to the level of discretion given to the executive directors and managers by the legislation that provides antitakeover regulations that are enshrined in the corporate charters and/or state legislation. Also in a self regulated system like the UK, institutional investors who own majority of the shares in UK quotes companies shaped the Takeover Code. BIBLIOGRAPGHY http://www.guardian.co.uk/business http://www.mallesons.com/MarketInsights/marketAlerts/2011/UKPanel-Takeover-Code-Reforms/Pages/default.aspx John Armour, Jack B. Jacorbs Curtis J. Milhaupt, The Evolution of Hostile Takeover Regimes in Developed and Emerging Markets: An Analytical Framework, 52 Harv. Intl L.J. 219 (2011) J Coffee. Regulating the Market for Corporate Control: A Critical Assessment of the Tender Offers Role in Corporate Government, 84 Columbia Law Review 1145 (1984), copyright Columbia Law Review Association, Inc. T I Ogowewo. The inequality in takeovers, Journal of International Banking Law and Regulation 178 (2008), reproduced by permission of the publishers, Sweet and Maxwell Ltd Dolbeck, A. Hard to Swallow: Poison Pills on the Decline Weekly Corporate Growth Report, 22nd March 2004, 1-3 Hermalin, B.E Weisbech, M.S., 1991. The Effects of Board Composition and Direct Incentives on Firm Performance, Papers 91-02, Rochester, Business-Financial Research and Policy Studies. J.H.Farrar, Business Judgement and Defensive Tactics in Hostile Takeover Bids (1989) 15 Can. Bus. L.J. 15 at 22 http://www.complianceweek.com/s/documents/DealogicGlobalReview.pdf (assessed 18th April 2011) Does Delaware Law Improve Firm Value? by Robert Daines. Journal of Financial Economics, Vol. 62 (2001) http://www.investopedia.com/articles/stocks/07/buyside_m_and_a.asp (Assessed 18th April 2011) Morck,R., Shleifer, A., Vishny, R., 1990. Do Managerial Objectives drive bad acquisitions? Journal of Finance, 31-48 http://www.cbr.cam.ac.uk

Thursday, September 19, 2019

Samuel Becketts Waiting for Godot: Existentialism and The Theatre of t

Every person is responsible for themselves. In society, people are responsible for their actions; good deeds will accede to rewards while bad deeds will lead to demerits. Humans live in a world where they are told what to do and how to do it, and faced with what is considered right and what is seen as wrong, but at the end of the day, humans have the freewill to do as they please and make their own choices, which leads them to being responsible for those actions. Everyday, humans are faced with these choices and decisions to make only to know deep down inside that they will either have positive or negative reactions to their choices, and it is this key idea that led to a specific philosophical concept in the 19th century, existentialism. This philosophy can clearly be seen in everyday life as well as in theatrical movements in the past and present. By examining the works of Samuel Beckett, evidence of existential thinking will be brought forward proving the progress of this philosoph ical movement. It will illustrate how existentialism has influenced Beckett, especially through his play, Waiting for Godot. The Theatre of the Absurd is another theatrical concept being examined proving that Samuel Beckett integrated the philosophy into his works through the Theatre of the Absurd. Whether or not Beckett justified existentialism or remodelled the theory, especially through the expression of â€Å"existence precedes essence†, will also be examined which will eventually lead to the result of whether this philosophical concept was seen as only a movement through a specific time, or a daily life exercise. Through the examination of existentialism and the idea of "existence precedes essence", it can be proved that this movement is still prog... ...amined and quoted, by different philosophical movements and theories, yet Existentialism is one concept that can always be evident in Beckett’s play. The Theatre of the Absurd will always be associated with Existentialism as they both revolve around the human conditions and meaning (or lack there of) of life. In today’s time, it doesn’t really matter if you believe in the existence of God, or whether or not you understand and accept the meaning of life, but the overall concept of Existentialism is apparent in everyone’s life. People are responsible for what they make of their life every action has their consequence, and we exist first and it is our own purpose to give our own life meaning and become our own person. Beckett, Samuel. Waiting For Godot. 3rd ed. N.p.: CPI Group, 2006. Print. Vol. 1 of Samuel Beckett: The Complete Dramatic Works. 4 vols

Wednesday, September 18, 2019

Free Process Essays - How to Prepare a Supreme Cafe Latte :: Expository Process Essays

How to Prepare a Supreme Cafe Latte Making espresso, cappuccino, cafe latte or plain coffee is an art form. It takes a skilled artist to make coffee worth appreciating. Many people cannot make coffee. The methods for brewing coffee may differ, but the coffee must be satisfying. There are many factors that decide whether a the coffee is satisfactory. I don't think it matters whether the coffee is the lowly drip brew or sophisticated cappuccino. It takes an accomplished craftsman to make it. I've had enough cups of lousy coffee to conclude that coffee making is an art. Making drip coffee may seem simple enough, but haven't you had coffee from a gas station? It never fails to have a bitter, burnt taste; usually there's non-dairy creamer and a lingering smell of ancient coffee grinds. The more complex cappuccino and latte are harder to master. The more elements involved, the more likely different elements can go wrong. With the spate of chi-chi coffee houses and euro-restaurants, lattes are more popular than ever in the U.S. Every coffee shop and restaurant thinks it can serve a latte. I've even seen coffee stands in drugstores. Unfortunately, these sources rarely have coffee worth drinking. A simple cup of drip coffee can be mastered by any novice. It's to coffee making what coloring in the lines is to art, a small challenge. It take a true coffee connoisseur to master the espresso or latte. I am proud to be such a connoisseur. Learning to make a proper cup of coffee is akin to an art apprentice learning under a great painter. You slowly work your way up. I learned from my mother. I started making coffee with "Taster's Choice" coffee crystals. I moved on to drip coffee, until graduating to the espresso machine. While it takes training and practice to make a latte, I think it also requires a certain talent. I don't mean to toot my own horn, but most people who've had one of my lattes agree that mine are the best. I can make cappuccino and espressos, but cafe lattes are by far the most popular in my house.

Tuesday, September 17, 2019

Emergency department patient satisfaction Essay

Customer service initiatives in healthcare have become a popular way of attempting to improve patient satisfaction. The effect of clinically focused customer service training on patient satisfaction in the setting of a 62,000-visit emergency department and level 1 trauma center is investigated. The most dramatic improvement in the patient satisfaction survey came in ratings of skill of the emergency physician, likelihood of returning, skill of the emergency department nurse and overall satisfaction. These results suggest that such training may offer a substantial competitive market advantage, as well as improve the patients’ perception of quality and outcome. A practitioner’s response to the case study is also included. Customer service initiatives in healthcare have become a popular way of attempting to improve patient satisfaction. The effect of clinically focused customer service training on patient satisfaction in the setting of a 62,000-visit emergency department a nd level 1 trauma center is investigated. The most dramatic improvement in the patient satisfaction survey came in ratings of skill of the emergency physician, likelihood of returning, skill of the emergency department nurse and overall satisfaction. These results suggest that such training may offer a substantial competitive market advantage, as well as improve the patients’ perception of quality and outcome. A practitioner’s repsonse to the case study is also included. You  have requested â€Å"on-the-fly† machine translation of selected content from our databases. This functionality is provided solely for your convenience and is in no way intended to replace human translation. Show full disclaimer Neither ProQuest nor its licensors make any representations or warranties with respect to the translations. The translations are automatically generated â€Å"AS IS† and â€Å"AS AVAILABLE† and are not retained in our systems. PROQUEST AND ITS LICENSORS SPECIFICALLY DISCLAIM ANY AND ALL EXPRESS OR IMPLIED WARRANTIES, INCLUDING WITHOUT LIMITATION, ANY WARRANTIES FOR AVAILABILITY, ACCURACY, TIMELINESS, COMPLETENESS, NON-INFRINGMENT, MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE. Your use of the translations is subject to all use restrictions contained in your Electronic Products License Agreement and by using the translation functionality you agree to forgo any and all claims against ProQuest or its licensors for your use of th e translation functionality and any output derived there from. Hide full disclaimerTranslations powered by LEC. Translations powered by LEC. Headnote visit emergency department and level I trauma center. Analysis of patient complaints, patient compliments, and a statistically verified patient-satisfaction survey indicate that (1) all 14 key quality characteristics identified in the survey increased dramatically in the study period; (2) patient complaints decreased by over 70 percent from 2.6 per 1,000 emergency department (ED) visits to 0.6 per 1,000 ED visits following customer service training; and (3) patient compliments increased more than 100 percent from 1.1 per 1,000 ED visits to 2.3 per 1,000 ED visits. The most dramatic improvement in the patient satisfaction survey came in ratings of skill of the emergency physician, likelihood of returning, skill of the emergency department nurse, and overall satisfaction. These results show that clinically focused customer service training improves patient satisfaction and ratings of physician and nurse skill. They also suggest that such training may offer a substantial competitive mar ket advantage, as well as improve the patients’ perception of quality and outcome. INTRODUCTION Recent changes in healthcare have led to increasing competition and the perceived commercialization of the healthcare provided to patients. At the same time, a need for reaffirmation of the importance of the patient-physician relationship has been expressed in the midst of such powerful forces (Laine and Davidoff 1996; Glass 1996; Pellegrino and Thomasma 1989). One aspect of the patient-physician relationship deserving further study is the role of customer service training in healthcare. While numerous customer service training tools exist in business and industry, no studies have clearly delineated the efficacy of customer service training for patients in a clinical setting. This study examines the effect of a required customer service training program taught by healthcare professionals on patient and family complaints, compliments, and satisfaction in a high-volume high-acuity emergency department. METHODS Patient Base All patients presenting to the Emergency Department at Inova Fairfax Hospital, Falls Church, Virginia, between May 1, 1994 and April 30, 1995 formed the control group, representing the period prior to emergency department customer service training. Patients presenting to the emergency department between May 1, 1995 and April 30, 1996 formed the study group, representing the period following customer service training intervention. The mechanism of patient complaint/compliment analysis and the survey criteria were identical in the control and study periods. Patient acuity was assessed by three measures: the number and percentage of patients admitted to the hospital; the number and percentage of patients with Current Procedural Terminology 1996 (CPT) evaluation and management (E/M) codes 99281-99285, (Kirschner et al. 1996); and a nursing acuity rating scale (EMERGE, Medicus Systems, Evanston, Illinois). Inova Fairfax Hospital is a 656-bed not-for-profit institution that is a teaching h ospital, regional referral center, and level I trauma center. Customer Service Training All emergency department staff involved in patient contact (physicians,  nurses, ED technicians, registration personnel, core secretaries, social workers, ED radiology, and ED respiratory therapy) were required to attend an eight-hour customer service training program. The numbers and types of staff involved in training are listed in Table 1. Because of logistic limitations, emergency medicine residents attended a focused fourhour required training course. The eight-hour program consisted of the following modules: basic customer service principles, recognition of patients and customers (Are they patients or customers?), service industry benchmarking leaders, stress recognition and management, communication skills, negotiation skills, empowerment, customer service proactivity, service transitions, service fail-safes, change management, and specific customer service core competencies. (More detailed information on the content of these modules is listed in Appendix 1.) These core comp etencies follow: making the customer service diagnosis (in addition to the clinical diagnosis) and providing the right treatment; negotiating agreement resolution of patient expectations; and building moments of truth into the clinical encounter. Following the initial required training, new physicians or ED employees were required to attend identical customer service training within four months of their initial employment. Additional mandatory customer service training updates were offered three times per year and included modules of conflict resolution, customer service skill updates, advanced communication skills, and assertiveness training. Patient Satisfaction Data Patient satisfaction data in both the control and study groups consisted of patient complaints, patient compliments, and a telephone patientsatisfaction survey conducted by an independent research firm (Shugoll Associates, Rockville, Maryland) that was blinded to the study hypothesis and course content. Patient complaints and/or compliments were systematically identified from all available means, including verbal, written, telephone, or electronic mail sources. Sources of patient complaints, data analysis, and categorization of complaints were identical in the control and study groups, which was coordinated by hospital quality improvement analysts. ED  staff were instructed to report all potential complaints and concerns, regardless of how minor, to appropriate physician or nurse managers in both the control and study periods. Complaints were logged into a central office and were investigated initially by three authors (TM, RC, DR). In cases where classification of type of complaint differed, additional information and/or clarification was sought from staff, patients, and family. Any discrepancies were resolved by group-consensus techniques. All complaints and the classification thereof were independently reviewed and verified by quality-improvement analysts. Patient complaint and compliment letters were referred for comment or clarification to appropriate ED staff in both the control and study periods. Outpatient satisfaction surveys were conducted by an independent research firm (completely blinded to the study and its hypothesis) utilizing a 50-item questionnaire to identify key factors in customer satisfaction. This survey instrument was validated on a sample of more than 3,000 patients prior to implementation in either the control or study group. The study used a telephone survey on a randomized number table basis to 100 ED outpatients per quarter (Appendix 2). Logistic regression analysis performed on these data identified 14 areas of more important/key attributes in the ED (see Table 2). Patient compliment and complaint data, as well as acuity data, were subjected to a two-tailed ttest and the Fisher Exact test. Patient satisfaction surveys were subjected to a two-tailed t-test with a 95 percent confidence level. Patient Turnaround Times Patient turnaround times (TAT) were calculated from time of initial arrival in the ED to either discharge or transfer to an inpatient unit. Turnaround times were routinely calculated on each patient and on an aggregate basis by day, month, quarter, and year. RESULTS ED Volume/Acuity Neither ED volume nor acuity changed to a statistically significant degree between the control and study periods, based on both admission percentage and nursing acuity (see Table 3). Analysis of CPT 96 Evaluation and Management Codes showed a statistically significant increase in codes 99283 and 99285, with a similar decrease in codes 99281 and 99284. The number of pediatric patients did not change in a statistically significant fashion during the study period. The only payor mix category to rise in a statistically significant fashion was managed care (p < .01), with a nearly identical decrease in commercial insurance. Neither compliments nor complaints correlated with payor category. Patient Turnaround Time Mean patient turnaround time dropped from three hours and 24 minutes (204 minutes) to three hours and seven minutes (187 minutes), but this difference was not statistically significant, nor did the percent of patients at one and two standard deviations from the mean change in a statistically significant fashion. Patient Compliments The total number of patient compliments rose from 69 in the control period to 141 in the study period, an increase of more than 100 percent (p < .00001) (see Table 3). Patient compliment letters consistently mentioned warmth, compassion, and skill of the emergency care provider as the reason for contacting management to praise the ED staff. There was no statistical difference between males and females among patient compliments. Patient Complaints Patient complaints dropped from 153 in the control period (2.5 complaints per 1,000 ED visits) to 36 in the study period (0.6 complaints per 1,000 ED visits), (p < .00001) (see Table 3). Complaints about perceived rudeness, insensitivity, or lack of compassion on the part of ED staff dropped most dramatically. Two-thirds of complaints in the study period were a result of waiting times, billing, or delays in obtaining an inpatient bed, compared to 30 percent in the control period. Nevertheless, complaints regarding waiting times, billing, and wait time for an inpatient bed still decreased 50 percent in the study period (p < .001). There were no significant differences in patient complaints based on age or sex, confirming results of the study by Hall and Press (1996). Patient Satisfaction Survey Data Baseline survey data were subjected to logistical regression analysis that indicated that 14 surveyed areas formed a core group of key satisfaction attributes. All of these 14 attributes showed increases in the study period (p < .001, see Table 2). The largest increases were in the following areas: skill of the emergency physician, skill of the nurse, likelihood of returning, overall quality of medical care, doctor’s ability to explain condition, diagnosis, and treatment options, and triage nurse’s sensitivity to pain. DISCUSSION The patient-physician and patient-nurse relationships are arguably the oldest in the history of medicine. These relationships have recently been described as being under siege because of an increase in the tension between the art and science of medicine, as well as the strains attendant to changes in the economic structure of healthcare (Glass 1996). To this list may be added a third causative factor: the lack of rigorous, formal training for healthcare professionals in the customer service fundamentals of the patient-provider relationship. The fundamentals of such training are closely tied to what has traditionally been described as the art of medicine or the concept of beneficence (Pellegrino and Thomasma 1989). Physicians have for the most part learned appropriate patient interaction skills through observing their mentors and peers during the course of graduate medical education. However, there has only recently been substantial study of this important subject (Buller and Buller 1987; Aharony and Strasser 1993). While customer service has been emphasized in American business and industry in recent years (Zeithamal, Parasuraman, and Berry 1990; Jones and Sasser 1995; Reichheld 1996; Berry and Parasuraman 1991; Berry 1995), few training modules are specifically targeted toward physicians and healthcare professionals. For this reason, the authors created an eight-hour customer  service training course for their ED providers, based on principles of adult education, benchmarks from the customer service industry (Sanders 1995; Spectre and McCarthy 1995; Carlzon 1987; Connelan 1997), experience in the clinical setting, and the existing literature on patient satisfaction (Pelligrino and Thomasma 1989; Thompson and Yarnold 1995; Thompson et al. 1996; Bursh, Beezy, and Shaw 1993; Rhee and Bird 1996; Dansk and Miles 1997; Hall and Press 1996; Eisenberg 1997). This literature emphasizes the importance of communication skills, managing information flow, actual versus perceived waiting times, and the ex pressive quality of physicians and nurses. All of these concepts were built into the training modules, including practical clinical examples of behaviors reflecting these and other concepts. Our philosophy in designing this course was simple. Customer service is a skill for which we hold our staff accountable but in which they had never formally been trained. We believed that this dilemma required, at a minimum, two sentinel events to occur. First, the department needed to have a clearly articulated and easily understood cultural transformation to a solid commitment to customer service. Second, staff members needed education in a practical, pragmatic fashion regarding precisely how such customer service principles could be applied in the clinical setting. Just as advanced cardiac life support, advanced trauma life support, and pediatric advanced life support courses can be used to improve cardiac, trauma, and pediatric resuscitation, respectively, we believed customer service outcomes could be improved by well-designed, mandatory, rigorous application of customer service training. The training was provided by active clinicians involved in day-to-day patient care activities (TAM, RJC). We believe this clinical credibility may have played an important part in the customer service transformation, inasmuch as the staff knew the trainers were well aware of the inherent problems of applying pragmatic customer service skills in a busy emergency department. The data from this study strongly support the hypothesis that clinically based, formal customer service training grounded on these principles can  dramatically decrease patient complaints, increase patient compliments, and improve patient satisfaction, at least in a high-volume, high-acuity ED. Patient complaints dropped by over 70 percent and compliments more than doubled during the study period, such that patient compliments actually exceed complaints in our 62,000 patient visit emergency department and level I trauma center. National data indicate that ED complaints average between three to five per 1,000 emergency department patients, although no data are available regarding rates of patient compliments (Culhane and Harding 1994). Our emergency department was slightly below that national standard level even during the control period. Analysis of the patient satisfaction survey data revealed an extremely important trend. Specifically, patients rated skill of the emergency physician, overall quality of medical care, and skill of the ED nurse as three of the most improved areas during the study period compared to the control period, despite the fact that there were no changes in the ED physician staff during the study and there was very little turnover among ED nurses. This strongly implies that patients rate the quality of care and the skill of the physician and nurse based on elements of the customer service interaction. These data suggest an important causal relationship between the technical component of care and the patient caregiver interaction, which has not been previously demonstrated. It is important to recognize that both customer service and technical skills are competencies to which hospitals and healthcare systems should hold their staff accountable on a daily basis. Hospitals spend substantial dollars to ensure that their staffs are technically competent to deliver quality medical care (Herzlinger 1997). However, to ensure that customer service is effective, clinically based customer service training is essential to give staff the appropriate skills in the clinical setting to deliver service competently. This concept is indirectly supported by data from Mack and colleagues (1995), who found that satisfaction with interactive aspects of emergency medical care produced higher correlations with measures of future intention to use the service than did satisfaction with medical outcomes themselves. Their study, however, did not undertake interventions to improve the interactive,  communicative aspect of healthcare in that setting. Similarly, Smith and colleagues (1995) evaluated the effect of a four-week training program, focusing on patient interviewing, somatization, patient education, and self-awareness, that was taught to first year internal medicine and family practice residents. Their data were not conclusive, but suggested that some but not all aspects of patient satisfaction could be improved by such training. This study tends to confirm the work of Thompson and colleagues (1996) that demonstrated in a much smaller sample size that expressive quality and management of informatio n flow to the patient had an effect on patient satisfaction. However, their study did not assess the impact of strategies and techniques for ED staff to improve patient satisfaction by improving expressive quality. While several studies (Thompson et al. 1996; Thompson and Yarnold 1996; Dansk and Miles 1997; Hall and Press 1996) have emphasized the importance of waiting time and exceeding patient expectations regarding length of waiting time, our study demonstrates a dramatic improvement in patient satisfaction without a statistically significant reduction in patient turnaround time. This supports the work of Bursch and colleagues (1993), who found in a study of 258 patients that the five most important variables for patient satisfaction were the amount of time it took before being cared for in the ED, patient ratings of how caring the nurses were, how organized the ED staff was, how caring the physicians were, and the amount of information provided to the patient and family. However, the study did not assess strategies to improve satisfaction based on this knowledge. All of this information was built into the training modules to assist staff with practical strategies to manage waiting time effe ctively using information flow, queuing theory, and verbal skill training. The implications of the higher ratings of the skill of the emergency physicians and nurses are intriguing and could have a far-reaching impact on healthcare. Perhaps the strongest implication is that perceived skill stands as a marker for quality and/or outcome in the mind of patients and their families. It has been shown repeatedly that patient compliance increases with confidence in the physician (Frances, Korsch, and Morris 1969;  Sharfield et al. 1981; Waggoner, Jackson, and Kern 1981; Schmittdiel et al. 1997). While our study did not directly assess improvements in outcome, quality of care, or appropriateness of care, it certainly appears that patients rated the skill of the healthcare providers as a key quality characteristic in this survey. Furthermore, the fact that ratings of quality of medical care and likelihood of returning also increased dramatically speaks to the importance that effective customer service training may have in offering a competitive market advantage to hospitals and healthcare institutions. This is particularly important as the concept of customer loyalty is closely tied to the likelihood of a patient or their family returning to that healthcare institution. As the focus on outcomes management and evidence-based medicine increases, it is important to take into account the effect that customer service skills have on patients’ perceptions of quality and outcome. This study may be subject to several criticisms. First, while statistical data on patient compliments and complaints obtained substantial statistical significance, the number of patients contacted for the outpatient satisfaction telephone survey may have resulted in sampling bias. While a larger sampling is planned in the future, the patient satisfaction survey data trends were consistent throughout all quarters and appear to be a valid statistical tool, despite the number of patients sampled. Second, it was not possible to blind those responsible for investigating and classifying complaints and compliments. However, we did attempt to reduce or eliminate possible reporting or observer bias by identifying complaints from all sources and ensuring that all complaints and their classification were reviewed and approved by an author who was not involved in ED operations and by quality improvement analysts. Third, information is not available on national or regional trends of patient compl aints and/or satisfaction during the study period. It is possible that the data in this study may reflect local, regional, or national trends toward decreased complaints and increased satisfaction, either globally throughout healthcare or in ED patients specifically. However, this is highly unlikely as no such trends have been previously reported, nor would such trends fully explain the data from this study, even if they were present. The data on patient acuity  indicated an increase in CPT codes 99283 and 99285, suggesting a slight trend toward higher patient acuity. This could mean that patients with higher levels of acuity are more satisfied and less likely to complain. No data are available to either prove or disprove this possibility, but the trend toward higher acuity would not appear to completely explain the dramatic improvement seen in this study. Furthermore, the patient-satisfaction telephone survey excluded inpatients, who comprise a larger percentage of patients in the 99285 service code. Further study is needed to delineate the relationship of ED patient acuity to satisfaction. Despite these potential limitations, this study demonstrates that clinically based customer training for ED staff can decrease patient complaints and increase patient satisfaction in a large volume, high-acuity ED, and that satisfaction is independent of patient turnaround times. Furthermore, the data support the concept that patients rate the skill of the emergency physician, overall quality of medical care, and skill of the ED nurse significantly higher after such training is provided to the ED staff. Additional studies in ED with different volumes, acuities, and geographic locations are needed to demonstrate whether these results can be duplicated. Studies of the impact of customer service training in other healthcare settings would also be of benefit. Nonetheless, clinically focused customer service training has been shown in this study to improve patient satisfaction and ratings of the skill of physicians and nurses. If verified by other studies, customer service training should be considered an important part of graduate and undergraduate medical education to improve both the art and science of the patient-physician relationship. The clinically based customer service training described in this study is now a required part of competency based orientation for all physicians, nurses, residents, and support staff in the emergency department. All professional and non-professional staff interviewed for positions in the emergency department are advised of the institution’s strong commitment to customer service training and the necessity of attending the required training course. As healthcare increasingly emphasizes accountability for customer service in its staff, it is increasingly important that practical and effective customer service training is provided. While not directly addressed in this study, the data on ratings of quality of medical care, skill of the physician and nurses, and likelihood of returning strongly suggest that effectively completing the customer service transition offers a competitive market advantage to hospitals and healthcare systems. References Aharony, L., and S. 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Spaccone. 1996. â€Å"How Accurate Are Waiting Time Perceptions of Patients in the Emergency Department?† Annals of Emergency Medicine 28: 652-56. Waggoner, D. M., E. B. Jackson, and D. E. Kern. 1981. â€Å"Physician Influence on Patient Compliance: A Clinical Trial.† Annals of Emergency Medicine 10: 348-52. Zeithamal, V. A., A. Parasuraman, and L. L. Berry. 1990. Delivering Quality Service: Balancing Customer Perceptions and Expectations. New York: Free Press. You have requested â€Å"on-the-fly† machine translation of selected content from our databases. This functionality is provided solely for your convenience and is in no way intended to replace human translation. Show full disclaimer Neither ProQuest nor its licensors make any representations or warranties with respect to the translations. The translations are automatically generated â€Å"AS IS† and â€Å"AS AVAILABLE† and are not retained in our systems. 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