Oral Fast Disintegrating Anti-allergic Film Using Hot-melt

viva voce Fast Disintegrating Anti-allergic ask Using Hot-melt Development and Evaluation of an Oral Fast Disintegrating Anti-allergic Film Using Hot-melt Extrusion TechnologyManjeet B. Pimparade1, Anh Vo1, Abhijeet S. Maurya1, Joseph T. Morott1, Xin Feng1, Dong Wuk Kim1, Vijay I. Kulkarni1, Roshan Tiwari1, K. Vanaja2, Reena. Murthy2, H. N. Shivakumar2, D. Neupane3, S. R. Mishra3, S. N. Murthy1, Michael. A. Repka1,4*1Department of Pharmaceutics Drug Deli really, School of Pharmacy, The University of Mississippi, University, MS, ground forces2Institute for Drug Deli precise and biomedical Research, Bangalore, India3Department of Physics, University of Memphis, Memphis, TN, USA4Pii Center for Pharmaceutical Technology, The University of Mississippi, University, MS, USA*Address for correspondenceMichael A. Repka, D.D.S., Ph.D. professor and Chair, Department of Pharmaceutics and Drug Deli preciseDirector, Pii Center for Pharmaceutical TechnologySchool of PharmacyThe University of M ississippi, University, MS 38677Abstract The main objective of this novel hear was to develop chlorphenira instante maleate oral examly disintegrating photographs (ODF) exploitation hot-melt extrusion engine room and evaluate the feature articles of the phaseulation utilize in vitro and in vivo methods. Modified starch with glycerin was employ as a polymer matrix for melt extrusion. Swee ecstasying and saliva-simulating agents were incorporated to improve palatability and lower the disintegproportionn eon of fill cookerys. A measure screw configuration was applied, and the last zone of the barrel was opened to unlade water system vapors, which helped to manufacture non-sticky, clear, and uniform films. The film plannings demonstrated rapid sedition times (6-11 s) and more than 95% annihilation in 5 arcminute. In addition, the films had characteristic windup(prenominal) properties that were helpful in contributeling and storage. An creature model was busy to de termine the peck masking of melt-extruded films. The lead film formulation was subjected to a clement bloodshed for valuation of extent of test masking and disintegration.Keyword Hot-melt extrusion, Orally disintegrating film, Taste-masking, Pediatric and geriatric, Modified starch, gay panel test evaluation, Continuous manufacturing, Chlorpheniramine maleateIntroductionIt is estimated that 26-50% of the unhurried population find hercule all in swallowing tablets and hard gelatine capsules 1. These patients mainly include the elderly who have difficulty taking conventional oral dosage forms because of hand tremors and dysphagia, and pediatric patients who argon often fearful of taking solid oral dosage forms owing to their underdevelop muscular and nervous frames 2. In addition, patients who are mentally ill, cultivationally disabled, uncooperative, on reduced liquefiableity-intake plans or nauseated, and travelers who may not have access to clean water also are disp lacedidates for ODFs 3, 4.The traditional alternative to swallowing difficulties is formulating a dose substance in liquid dosage form. However, liquid dosage forms have several limitations, such(prenominal) as the need for measuring, bulkiness, physical, chemical, and microbial stability issues, spoilage, inaccurate dosing, and organoleptic properties of drug and drug formulations 5.Conventional solid oral formulations contributed significantly to minimizing the shortcomings of liquid dosage forms. The crushing of tablets or opening of capsules is a straightforward way for patients or caregivers to lessen the swallowing difficulties. However, serious consequences may be associated with modified-release, enteric-coated, and cytotoxic or hormonal medicines, as these formulations are designed for special cases 6. Moreover, European Medical Agency does not recommend the splitting or crushing of tablets because the officious pharmaceutical ingredient (API) is not evenly distributed in the tablet 7, 8. Thus, it is very convenient to develop a formulation that dilapidates in the oral infernal region and eases the swallowing process.In recent years, steatimedy disintegrating oral formulations established their splendor in patient population suffering from dysphagia, stroke, thyroid disorder, Parkinsons disease, multiple sclerosis, and cerebral palsy 9. Commercially on tap(predicate) orodispersible tablets (ODT) and orodispersible films (ODF) are the or so successful platforms for pharmaceutical ingathering development. ODTs are solid oral dosage forms that disintegrate rapidly, typically wi keen 30 s, with or without the administration of additional water 10. They provided great comfort to patients with swallowing difficulties 11. contempt the benefits of ODTs, in that location are some challenges in their processing and handling owing to their fragility and brittleness, which warrant special package for protection during storage and trans sortation 12. The films are flexible and not as fragile as most ODTs. Hence, there is ease in transportation, consumer handling, and storage of ODFs.ODF can be defined as a dosage form that employs a water-soluble polymer (generally a hydrocolloid, which may be a bioadhesive polymer), which allows the dosage form to quickly wet, adhere, and dissolve to release the drug when dictated on the tongue or in the oral cavity 5. ODF alleviated patient discomforts associated with swallowing disabilities without compromising the therapeutic effect. In addition, it could ease the administration of drugs to pediatric patient population 13. Moreover, ODF can be helpful in curtailing dit variations in younger patients, in whom liquid formulations are the most accepted way of drug delivery.Currently, solvent casting methods are commonly employed to produce ODFs, owing to its ease of production and low set up costs 14, 15. Despite its colossal application, products with batch-to-batch variation may be produce d because of multiple steps involved in the production. In addition, air entrapment in the films is commonly observed in solvent casting methods, which leads to loony toons variations and in take into account esthetic appearance of the product 15. The use of large amounts of solvent is one of the biggest shortcomings of this method as solvent removal and disposal is a long and tedious process. Thus, it is very beneficial to develop a solvent-free, quick, and continuous process that could diminish the shortcomings of the flow manufacturing method.Hot melt extrusion (HME) is a one-step, solvent-free continuous manufacturing process, which established itself in the pharmaceutical arena for the development of various solid oral formulations 16-25. This technology involves the use of temperature and shear to process polymer blends and extrude them by a die of the desired design 26. HME could be an effective alternative to the solvent casting method as it diminishes the inherent shortc omings, such as the use of solvents and problems involved in the mixing and drying steps. This ultimately makes HME process economical and cost effective for patients 27, 28.This study has three main objectives to 1) develop a robust patient-friendly orally fast disintegrating film of chlorpheniramine maleate (CPM) 2) evaluate these formulations with different in vitro and in vivo techniques, and 3) demonstrate the feasibility of HME techniques for continuous manufacturing of ODF without the use of solvents. To the beat out of our knowledge, there is no published literature on the manufacturing of orally fast disintegrating formulations victimisation HME technology and evaluation of films using in vitro and in vivo techniques.Materials and Methods 2.1. MaterialsCPM was purchased from MP Biomedicals, LLC (Solon, OH, USA). Lycoat RS 780 (modified starch) was supplied by Roquette America Inc. (Keokuk, IA, USA). Citric acid and glycerol were ordered from pekan Scientific (Pittsburgh PA, USA). Magnasweet sample was gifted by Mafco worldwide LLC (Camden, NJ, USA). Sucralose was supplied by JK Sucralose Inc. (Edison, New Jersey, USA).2.2. thermic analysisThermogravimetric analysis (TGA) studies (Perkin Elmer Pyris 1, Shelton, CT, USA) were performed to estimate the thermal stability of the API and excipients during HME processing. Data were analyzed using Pyris software. The API excipients were modify from 30-160 at 20 /min.2.3. Material preparation and blending CPM, citric acid, and Lycoat RS 780 were dry mixed at amounts depict in Table 1 using a V-shell blender (GlobePharma, Maxiblend, New Brunswick, NJ, USA) after passing through an ASTM 30 mesh. The plasticiser (glycerol with dissolved sucralose and Magnasweet) was incorporated slowly into a high-shear mixer (Model RSI 3VG, Robot Coupe Industrial Division, Ridgeland, MS, USA) containing the forwardly mixed blend with all excipients and allowed to blend for 10 min.2.4. Hot melt extrusion The blends were melt-extruded using a co-rotating twin-screw extruder (16 mm Prism EuroLab, ThermoFisher Scientific, Pittsburgh, PA, USA) at 30-50 rpm over a temperature run of 100- 110. A degassing port was introduced in the last zone of the barrel to release excess water vapor, which would former(a)wise produce discarded bubbles in the films. Additionally, the film die was installed with preset thickness. The physical blend of the formulation was manually fed into the hopper, and the films were collected, absorbed in wax paper, sealed, and stored in polyethylene bags at 25 with 40% relative humidity.2.5. Film characterizations2.5.1 Film thickness and mechanical propertiesThe mechanical properties of the films were evaluated using the TA.XTPlus texture analyzer equipped with 5 kg warhead cell (Texture Technologies, Scarsdale, NY, USA). The films were cut into dumbbell shaped specimens with a width and length of 1.55 and 15.5 mm, respectively, and placed longitudinally in tensile grip probe on the texture analyzer. The films were tested at a crosshead speed of 2 mm/min and held amidst two clamps positioned at 5 mm. The results of film samples that broke at and not between the clamps were not included in the calculations. Each film formulation was thrifty with ten replicates 29. The tensile strength (Ts) and percent elongation (%E) were calculated using the results from texture analyzer. Film thickness was measured using an electronic caliper (Fisher Scientific, Pittsburgh, PA, USA) at different positions.2.5.2 Disintegration test The film was cut into an appropriate size as per the dose (4 mg) and placed in a petri dish. Then, 100 L artificial salivary media was added, and the time for stop disintegration of the film was recorded (n =10).2.5.3 Surface pH of film The film was moistened using 5 L water and a contact electrode touched the surface of the film (Oakton pH meter, Fisher Scientific, Pittsburgh, PA, USA), followed by pH measurement (n=6)2.6. Analytical methodA Waters high performance liquid chromatography (HPLC) system equipped with a Water 600 binary pump, Waters 2489 UV/detector, and Waters 717 plus autosampler (Waters Technologies Corporation, Milford, MA, USA), and a Phenomenex Luna 5 m C18 (2) 250 x 4.6 mm column (Torrance, CA, USA) were used at a detection wavelength of 254 nm. The energetic phase consisted of 7.5 mM monobasic potassium phosphate in methanol and water at a ratio of 62.537.5 (v/v). The mobile phase flow rate was keep at 1.0 mL/min, and an injection volume of 10 L was used 30. HPLC data were analyzed using Empower 2 software (Milford, MA, USA).2.7. In vitro dis effect studiesThe films for wastefulness studies were cut into sizes relative to the dose of CPM (4 mg). The drug profile was evaluated using a USP dissolution apparatus-I (Hanson SR8, Chatsworth, CA) maintained at 37 0.5 and having a shaft rotation speed of 100 rpm. The dissolution test was performed using 900 mL phosphate buffer (pH 6.8). The samples wer e withdrawn at 5, 10, and 30 min and analyzed using the HPLC- UV system.2.8. X-ray diffraction studies (XRD)X-Ray diffraction (Bruker D8 Advance, Madison, MI, USA) was used to determine the physical state of the drug, excipients, and film formulations. The X-ray diffraction apparatus used CuK radiation at 40 mA, 40 kV, a scanning speed of 2-/min, and diffraction angle (2) range of 5-55.2.9. Scanning electron Microscope (SEM)The surface morphology of the films was evaluated using SEM analysis. The samples were mounted on adhesive carbon pads placed on aluminum and sputter coated with gold using a Hummer sputtering system (Anatech Ltd, Springfield, VA, USA) in a high vacuum evaporator. A JEOL JSM-5600 SEM operating at an accelerating voltage of 10 kV was used for imaging.2.10. In vivo taste evaluation Twenty-one nave adult male Sprague-Dawley rats (175-200 g) were ordered from Harlan Laboratories (Houston, TX, USA) for the study. The rats were housed in Plexiglass cages with Corncob b edding in a vivarium that maintained a 12 h unaffixed/dark cycle and an ambient temperature of 22. Food and water were available without any restriction, except during the fostering and taste evaluation experiments as mentioned below (2.10.1). All procedures were approved by the Institutional Animal bring off and Use Committee (IACUC) at The University of Mississippi, University, USA (protocol no. 15-026). This study was performed as per the procedure in our previous publication on taste assessment method for sharp drugs 31.2.10.1. Training paradigm The rats were trained for whipping behavior (response to thirst) by depriving them of water for 22 h, but they had ad libitum access to food. after the water want finale, the Plexiglass cage was divided using plastic transparent dividers to provide an individual water feeding bottle to from each one animal. Eventually, the rats were provided with graduated water bottle for 30 min, and the amount consumed at 15 and 30 min were re corded. This training paradigm was performed for 2 days before the taste evaluation experiment.2.10.2. Evaluation of bitterness predisposition of ratsTo determine the dumbness of CPM for this study, a sensitivity test for bitterness was performed in rats. After depriving the rats of water for 22 h, sensitivity toward 0.5 mg/mL CPM solution was evaluated on the first day, followed by a dampenout period of 24 h. Subsequently, the effect of 1 mg/mL CPM solution was examined, and the results were recorded.2.10.3. Experiment The experiment was performed for 30 min with 30 mL test formulation following the 22 h water deprivation period. After each experiment, the rats had a washout period of 24 h to avoid any memory of the taste of the previous formulation. The rats had ad libitum access to food during the experiment and washout period. The amount of solution remaining at 15 and 30 min was noted and subtracted from the original test volume. Varying results caused by spilling of the tes t solution while measuring or leaking of bottle knob were omitted from the study. Notably, animal behavior responses such as rattle on smacking, oral grooming, and retreating were observed, which was not the focus of this study. plannings N2, N7, and N9 at 0.5 mg/mL CPM were used for bitterness evaluation study in rat model. The average amount of solution consumed by all animals was calculated and expressed as the mean touchstone deviation. The mean scores between the physical mixture and formulation were compared using a student t-test at 95% confidence level and P2.11. Film evaluation by serviceman panelThe evaluation of film for palatability, disintegration time (DT), and organoleptic characteristics was performed at the Institute for Drug Delivery and Biomedical Research, Bangalore India (Protocol number VIPS/2013/12). The subjects were recruited after obtaining informed consent. This study is also in accordance with the Code of Ethics of the serviceman Medical Association (Declaration of Helsinki). The experimental procedure for this study was as per our previously published work 10, 32. 2.11.1. Human subject selection criteria Six human subjects belonging to either sex were recruited. They were asked to abstain from coffee/tea and other beverages for 12 h. The subjects were allowed to drink only water for 12 h. Moreover, they were asked not to eat chocolates or other candies for over 6 h. The inclusion criterion was healthy human subjects aged 18-42 years, and the exclusion criteria were subjects suffering from fever, babble out ulcers, dry mouth, cold, lift block, and wounds as well as smokers.2.11.2. Data collection Before data collection, the subjects were asked to wash their mouth with water at ambient temperature. The surface temperature of the tongue was recorded using an infrared (IR) thermometer, and a difference of 5 relative to the body temperature was considered an exclusion criteria.2.11.2.1. Bitterness perceptionThe subjects were aske d to taste aqueous solutions of CPM, ancestry with very dilute solutions and progressing to higher concentrations, by placing 2 mL solution for 30 s on the tongue/buccal cavity. The concentrations screened were 0, 0.5, 1, 2.5, and 4 mg. The volunteers were asked to report the perception each time 1- I feel bitter taste, 2- I feel something but cannot identify the taste, and 3-I do not feel the taste. The subjects who inform 2 or 3 were asked to taste higher concentrations of the solution until they expressed perception 1. This was recorded as the threshold for an individual. For individuals who reported a score of 1, at least 1/5th the drug concentration of the actual dose was only allowed for testing the products. A few high concentration API solutions above the individuals perception threshold were make for tasting, and the subjects were subsequently asked to provide a score for each solution (Table 3). The highest concentration of the solution contained CPM equivalent to the do se present in the products tested. The scoring pattern followed was according to modified hedonic scale 0-no taste, 1- taste something (threshold), 2-slightly bitter, 3-moderately bitter, 4-bitter, and 5-strongly bitter.2.11.2.2. Formulation evaluation and data analysisA washout interval of 12-24 h was allowed after screening the standard solution. The individuals were asked to taste the products (physical mixture or ODF) randomly (blinded) and score the product. The products were placed on the tongue/buccal cavity for 30-40 s, and the subjects were asked to score the bitterness on a scale of 0-5 for each product. Moreover, volunteers were asked to report the time for complete disintegration of the film. Sufficient washout time was allowed between the products, and the volunteers were allowed to drink copious amounts of water after tasting each product. The average of the scores given by all individuals were taken and expressed as the mean standard deviation. The mean scores between the physical mixture and formulation were compared using a student t-test at 95% confidence level, and PResults and Discussion3.1. Preparation of hot-melt extruded filmModified starch is very difficult to extrude because of its high glass transition temperature. Thus, there is a need to introduce a plasticizer during extrusion, which could reduce the melt viscosity and increase the free volume of starch chains. For this study, glycerin was used as a plasticizer in different proportions, and it exhibited excellent extrudability with significantly lower torque (4.8-7.2 Nm) values than typically encountered. The barrel design was modified with a degassing port to remove excess amount of water vapor from the molten mass. Initial studies without a degassing port demonstrated the presence of bubbles as well as incommensurate distribution of drug in the film samples.Standard screw configuration ( common fig tree 1) with three mixing zones was employ for this study. It provided enough sh ear for dispersive and distributive mixing of the drug and helped get excellent content accord in all the extruded film formulations.The extruded films were stretched using the roll connected to the extruder assembly. This aided in making thin films with uniform thickness, and the roll speed was optimized for steady collection of the film. The combination of processing and formulation parameters helped to manufacture uniform, clear, and very thin films (60-110 m) using melt extruder.3.2. Physiochemical evaluation of filmsTGA is very vituperative before performing HME because the drug and excipients are exposed to high temperature during the extrusion process, and there are possibilities of drug degradation or thermally-induced chemical reactions or both 16. The TGA results (Figure 2) specified that API, polymer, and excipients were chemically stable in the HME processing temperature range. Lycoat RS 780 demonstrated a loss of tilt (33.XRD was used to investigate the physical stat e of the drug after HME process. The XRD results (Figure 3a 3b) of CPM illustrated prominent peaks at 2 angles of somewhat 13, 19, and 20 degrees, while citric acid showed peaks at 2 angles of 18, 19, and 26. The melt-extruded formulation did not show any peak that confirmed the presence of drug in an amorphous form. The reasons behind the complete conversion of drug to an amorphous form were the high shear during extrusion, low drug load, and relatively high amounts of glycerin. The presence of CPM and excipients in an amorphous form aided the flexibility and clear appearance of the film.3.3. Dissolution studiesLycoat RS 780 is a comparatively raw modified starch-based polymer, which demonstrated its significance in film coating for tablets and oral film development using solvent casting method 34, 35. Being a non-gelling and highly water-soluble polymer, it provides rapid disintegration and dissolution to formulations. Visual inspection during dissolution demonstrated rapid dis integration of the film when it touched the dissolution media. This characteristic helps in the rapid onset of action of the formulation, because the drug can diffuse from the oral mucosa and seduce the systemic circulation 36.During dissolution studies, the formulations rapidly release CPM, and it was attributed to hydrophilic excipients and Biopharmaceutics Classification System (BCS) class I drug. These films had very low thickness (60-110 m) and higher surface area, which enabled interaction with dissolution media and rapid disintegration following complete dissolution. Dissolution results (Figure 4a 4b) showed 95% drug release in the first 5 min of the dissolution experiment, and at 10-min time points, there was complete release of the drug.3.4. SEM evaluationThe surface morphology was examined by SEM for all film formulations. SEM images did not exhibit CPM crystals, indicating an amorphous nature of drug in formulations (Figure 5). The formulations showed very smooth surfac e at low magnification. This affirmed the smooth texture of film surface, which is one of the esthetic attributes of films. However, at microscopic level, there was high surface area, which helped in the rapid disintegration of the film.3.5. Film characterizationsAs illustrated in Table 2, the film formulations demonstrated excellent D.T of 6-11 s, which was attributed to the thickness of the film and presence of water-soluble materials in the film. The formulations contained water-soluble excipients and APIs such as CPM, citric acid, glycerin, and modified starch. The most crucial parameter for disintegration is the low thickness of the film. As the films had a thickness range of 60-110 m, they aided in the faster disintegration of all film formulations. In addition to the low thickness of the film, the amount of saliva in the oral cavity is very critical for rapid disintegration. The normal flow of saliva in a healthy person is 0.34 mL/min, and it can be increased by the addition of agents that simulate salivary production, including citric, malic, lactic, ascorbic, and tartaric acids 14. Citric acid is the most preferred saliva-stimulating agent, and it was estimated that citric acid could increase salivary flow approximately 5-fold in 2-6% proportion in the formulation 14. With the addition of citric acid, the pH of the films was found to be in the range of 2.9-3.4 and it could contribute in improving rate of salivary flow after administration of formulation which will aid in rapid disintegration of film product.All the film formulations were tested for their Ts and %E (Table 2). Ideally, the film should have suitable mechanical properties so that it can remain intact during handling and transport. ODFs showed appropriate strength and %E. These excellent mechanical properties were attributed to the presence of glycerol, citric acid, and CPM, which reduced film stiffness via disruption of intermolecular forces of the polymer owing to the accommodation of th ese compounds between the strands, thereby providing elasticity to the films 37, 38.3.6. In vivo taste evolutionFirstly, the taste perception of rats was evaluated by administering 0.5 and 1 mg/mL CPM dissolved in distilled water. These results were important to avoid taste variability between animals (Figure 6), and showed that the rats consumed 10 and 14 mL of water in 15 and 30 min, respectively. The results of this study were comparable with those of the study published by Tiwari et.al. Thus, the rate and extent of consumption of water were reduced significantly to 3 and 5 mL in 15 and 30 min with the administration of 0.5 mg/mL CPM solution. At a higher concentration of 1 mg/mL, there was notable reduction in consumption of water to 1.6 and 2 mL at 15 and 30 min. Notably, this reduction in consumption of CPM solution despite deprivation of water for 22 h affirmed an aversion toward CPM. Moreover, aversion behaviors (Figure 7), such as jaw smacking, oral grooming, nose wrinkle, paw wipe, forelimb flail, head shake, paw shakes, and retreating confirmed the dislike of rats toward the drug solution 39.As illustrated in Figure 6, the rats consumed 10 and 12.5 mL of N 2 solution (5% CPM in the film) in the first 15 and 30 min, and the amount was comparable with the consumption of water. In addition, N7 (10% CPM) exhibited consumption of 4.7 and 8 mL at 15 and 30 min. Furthermore, N9 (7.5% CPM) showed consumption of 6.3 and 10 mL at 15- and 30-min time point. These results indicated that with increasing concentrations of CPM, there was noticeable reduction in the consumption of formulation. The rats did not show aversion behavior such as forelimb flail with N2 formulation. However, there was a surge in the aversion behavior response upon increasing the drug concentrations in N7 and N9,.The results of this study were very helpful to understand about the taste of pure drug and formulation. It provided an insight into the taste of products, which helped to screen this formulation for human studies.3.7. Film evaluation by human panelBefore evaluation of taste of the formulation, it is very important to understand the taste perception of human volunteers to minimize intra-subject variability. Taste perception study was performed on six healthy human volunteers. Initially, different concentrations of CPM in 2 mL of water were administered to the human subjects. deuce-ace subjects had threshold at 0.5 mg and the remaining three subjects reported moderate bitterness at the alike concentration. A dose of 2.5 mg demonstrated bitterness in all subjects, and only three volunteers could taste higher concentration of CPM (4 mg, Table 3). This initial evaluation confirmed the appropriateness of the subjects for taste masking study.The results of taste masking evaluation in animal model suggested that formulation N2 with 5% CPM had significant taste masking. Moreover, this formulation had an excellent D.T (7 s) in in vitro studies. Based on t

Managing Change in the Workplace

Managing Change in the Workplace Managing Change in the WorkplaceManaging and ever-changing governing bodys appears to be getting more(prenominal) alternatively than less difficult and more instead than less important Burnes 1996Critically evaluate and debate this statement, highlighting the potential challenges placements governing body in managing smorgasbord effectivelyOver the last 20 years unfermented products, exploites and services flip appe atomic number 18d at an increase rate. Local markets have become global markets due to the advance of technology (the internet) and protect or semi- protected markets have been opened to competition. Monopolies have been transferred to the private arena (e.g. British rail, BT, utility companies) or they have select more market-orientated practices. To abide by abreast of competition transcriptions be restructuring, introducing new products and services, changing information systems and introducing new survey practices. Or ganisations that fail to diversity back toothnot survive in the competition and will fail to sacrifice a profit. (Burnes, 2004)The deal of managing motley in organisations is to guide the people in the swop do work so they can adapt, spay demeanor and manage with the new counter adjustment that is happening in the organisation. Sometimes people in the organisation insure it difficult to cope with depart as the old responsibilities, roles and behaviour and attitudes atomic number 18 not well forgotten. In organisations people are the most important asset in the business if people cannot counterchange, processes and systems cannot change. mensural strategic planning must take place involving the people so they can understand what is needed to change as the behaviours, personality, value and all work for and against organisational change (Blake Bush, 2009)According to (Blake Bush, 2009 p3) Change have it awayment is the process, tools and techniques to manage the p eople side of business change to achieve the most successful business outcomeOrganisations are constantly assessing their efficiency and performance therefore managing change is important. Persuading stakeholders to change can be difficult til now if it is successful organisations can survive and thrive to gain a competitive advantage. According to (Blake and Bush, 2009) organisations have to come across four conditions to convince their employees, these are-1. Give an insight to why their organisation wants to change and how it will returns them and make then agree2. Make sure structure, processes and reward systems must be put in place to support change3. Employees obtain the right skills for the new change4. Ensure employees update their roles and indebtedness and model them to the new change.The need for change can be difficult, costly and sometimes disappointing. Expensive new information systems, policies and organisational structure attract most attention entirely organi sations forget their talent men and how they are affected by change. Sometimes it is a difficult process depgoaling on how old or new, commodious or small the organisation is. (Buchanan Huczynski, 2004)The need for change is initiated by two categories, internal factors and outside(a) factors indoors the macro and micro environment. External triggers for change can include* Economic fluctuations This may develop or hinder the development of new products or processes. For example, in times of recession customers may not have m unmatchabley to spend on luxury items and will concentrate on basic everyday inborn items. New products will not come into the market due to lack of funds.* Social For example, the size, age and turn on distribution of the population can affect the demand for a product. An ageing population will make organisations target products / services to suit them to increase sales and market share.* The development of new technology has make it possible to develo p a whole range of new products.* Changes in customer requirements and tastes require organisations to issue for their needs.* Competitors are continually developing new products* The EU has opened new markets in new countries* spherical trading via the internet increases pressure for organisations to change its design and become globalised but in order for the organisation to do so it must transform their processes, systems and cultures to become internationally known.* Changes in social and cultural valuesInternal triggers for change can include* High absenteeism and staff turnover* Inadequate skill or training* New design of product /service(Buchanan Huczynski, 2004)Generally, a high proportion of change efforts end in failure (Beer and Nohria,2000 Burnes, 2003 Huczynski and Buchanan, 2001). Change projects fail because not enough planning or thought has taken place to achieve the desired objectives. Sometimes change takes place not for the interest of the organisation but for personal or sectional interests. (Burnes, 2004)The value of the HR function is very important when an organisation is passage through with(predicate) the process of change. A lot of companies are giving more responsibility to senior and cable length coachs. Senior managers and the HR function can work together to insure that the business can change to meet the needs of customers, build good relationships with its stakeholders and ensure employee talent is retained and developed in changing situations. (Hennessy McCartney, 2008)HR can also help ensure that organisational culture is open to change by ensuring change agents handle sensitive emotions and the correct management policies are in place. For example the right people are enkindleed, trained or developed and the appropriate pay and reward policies are in place to keep staff motivated. HR also ensures that change is gradual across the whole of the organisation.HR change agents should find out whether part of the change is supported or resisted. It also gives people a chance to talk over and sort out their concerns with the change agents and to feel satisfied with the change. Communication is important such as face to face and team briefings are beneficial in the change process (Armstrong, 2006)However, there will evermore be some metro to change. People resist change because it is seen as a menace to known patterns of behaviour as well as to status and financial rewards. (Armstrong. 2006, p345). The main reasons of resisting change are as follows* Change to established routines, methods of working or conditions of employment will be seen as a threat to job security and loss of potential earnings such as overtime etc.* The workforce may view management as having ulterior motives to introduce change making the organisation wide awake for merger or takeover.* Change can be worrying for the workforce as there is a lot of uncertainty about the impact of the change.* In some organisations change ca n cause nark to the workforce. For example any changes in starting and finishing work shifts may require new arrangements for tiddler minding etc.* Loss of a parking space or office may be viewed as a loss of status or importance in the organisation and therefore cause resistance to change* Disruption to customary social relationships and standards of the group will be resisted as this will be seen as a threat to interpersonal relationships.* Learning new skills and coping with new demands may get along concern for some of the workforce as they will not be certain if they can cope with the new change. (Armstrong, 2006)Process of changeAccording to Jainist, 2005 the following steps are considered in the change process and these are* Develop new goals or objectives to replace goals or objectives having a negative impact.* A manager must be appointed to overlook the change and control the resistance* Diagnose the problem come across issues surrounding the problem where the change is needed.* Methodology Use a methodological analysis for change so that everyone can agree too and to try and avoid any resistance. All members emotions should be considered when drawing up the methodology* Develop plan/strategies on what changes need to be done* Strategy for implementing the plan correct measure and communication channels need to be done. Members should be briefed up on the changes using one to one meetings as often as possible.* Allow for natural resistance problems to be sorted during the change process. (Jain, 2005)For change to take place successfully the main objective is to change peoples behaviour and attitudes and improve the ability for the organisation to cope with changes to the environment.Nadler and Tushman (1980) cited in (Armstrong, 2006) suggested some guidelines on how change should be implemented. Motivate individuals to achieve change by* Communicating a clear image of the future* All concerned to support the change rather than block it* Sta ble structures and processes will help change and reduce uncertainty and instability.Another model of change was invented by Kurt Lewin which was an effective process for achieving behavioural changes in groups. Lewins model involves a three stage process-1. Unfreezing the status quo -looking at old processes and what change needs to be done2. Changing- Bring about the change by reorganising the resources3. Refreezing Embedding the new changes of working (Mullins, 2002)According to Burnes, 1996 cited in the (Langer, J et al, 2005) claims that the problem with Lewins assumption is that the stability of the external environment is always changing therefore the three stage changing process is not quite straightforward and is only gradual and continuous not revolutionary. (Langer, J et al, 2005)Beers 6 steps model looks at the complexity of change and how an organisation deals with responses to the effectiveness of change. Beers model concentrates on task alignment (employees roles, r esponsibility and relationships) as the key to alter new ways of thinking, attitudes and behaviour. Beers uses this model as a way of changing peoples behaviour and attitudes with their roles and responsibility in order to adapt to change. The 6 steps are-Stage 1- Act and devote to change through diagnosesStage 2- Develop the organisations shared viewStage 3- learn the roles and responsibilities to the shared visionStage 4- Spread the word about changeStage 5- Make the change institutionalised through policies.Stage 6 Monitor and adjust as needed (Blake Bush, 2009)There are many models of change but different organisations will need to choose a model that best suits their culture and values. A simple model would be to investigate changes that are needed and look at individual responses to change.* propose the change* Implement the change* Manage the people side of change* Manage the organisational side of changeThe world is changing rapidly to keep up with global competition, t echnological innovation de- regulation, privatisation of in the public eye(predicate) sector organisations and much more managers face complex and challenging pressures and opportunities. Changing organisations is a complex process with more opportunity for failure than success. Good managers and leaders are important to an organisation as they can relieve oneself the conditions for growth and prosperity. Managers should gather and be more open to a wide variety of information. Any purpose to implement change should be to the benefit for all concerned and not just for themselves. Organisations must ensure the efficient use of resources and offer the right products and services, to use the appropriate technologies as well as recruit and retain people with the best skills. (Carnal, 2009)The organisation also needs to have strategies, accountabilities, information systems and resources to improve or sustain performance against the organisations objectives. The efficient organisation focuses on internal efficiency and control. Maintaining internal systems includes activities such as performance appraisal, training, development and reward system. The ability to attract and retain high quality staff at all level is a useful indicator of effectiveness. The effective organisation adapts to the external environment and includes marketing, public and community relations. For change to be successful an organisation need to be customer focused. More interfacing skills, dialog skill and networking skills will also be needed when a change is needed (Carnal, 2009)ReferencesArmstrong M., (2006) A handbook of Human Resource Management practice. 10th ed., Kogen Page Philadelpia.Blake, I Bush, C (2009). Project Managing Change serviceable Tools and Techniques to Make Change Happen. Harlow Prentice Hall.Buchanan, D. Huczynski, A. (2004) Organisational Behaviour An introductory text, 5th ed. Harlow Prentice Hall Financial Times.Carnal, C (2007) Managing change in Organizat ions. 5th ed., Harlow Financial Times Prentice HallHennessy, J., McCartney, C. (2008). The value of HR in times of change. Strategic HR Review. 7 (6), 16-22.Langer, J., Alfirevic, N., Pavicic, J. (2005). Organizational change in transition societies. Hampshire Ashgate publishing limited.N.K Jain (2005). Organisational Behaviour. Dehli Atlantic.Mullins, L.J. (2002) Management and organisational behaviour. 6th ed., Harlow Financial Times Prentice Hall.BibliographyAshton, C., Morton, L. (2005). Managing talent for a competitive advantage. Strategic HR Review. 4 (5), 28-31.Burnes, B., Coram, R. (2001). Managing organisational change in the public sector.. The International Journal of Public Sector Management . 14 (2), 94-110.Butel, L., Curtis, T., Mclntyre, J., Pearce, J., Rainbow, S., Smith, D., Swales, C,. (1998) Business Functions An Active Learning Approach. Oxford Blackwell PublishingGill, A. (2009). Employee engagement in a change environment. Strategic HR Review. 8 (2), 19-24.Hal l, D., Jones, R. Raffo, C. (1995) Business Studies. Lancashire Causeway Press ltd.Johnson, G., Scholes, K. Whittington, R. (2005) Exploring corporate strategy. 7th ed., Harlow Financial Times/Prentice Hall.Leahy, L., Chamberlain, N. (2008). endure change. Strategic HR Review. 7 (6), 23-29.Lynch, R. (2000) Corporate strategy. 2nd ed., Harlow Financial Times/Prentice Hall pp452Tansley, C., Turner, P., Foster, C., Harris, L., Sempik, A., Stewart, J., Williams, H (2007). Talent Strategy, Management, Measurement Research into practice. London Charted Institute of Personnel and Development .Trompenaars, F., Woolliams, P. (2003). A new poser for managing change across cultures. Journal of Change Management . 3 (4), 361-375.

History Of Piet Mondrian History Essay

History Of Piet Mondrian History EssayPieter Cornelis Mondrian was born March 7, 1872 in the small Dutch v sinisterage of Aamersvoort. He was the second oldest of 2 brothers and one sister. His bring forth extend to a living as a teacher solely had talent as an amateur artist and was gifted in drafting. His beat noticed at an early age that his son Piet had a gift for drawing and was able to flip over him drawing lessons. Credit must be given to his Uncle Fritz Mondrian, an artist as well that was self taught and made a living within the commercial art world. He taught the young Mondrian the basics of motion picture and his father took him to the countryside to sketch landscapes. Mondrian senior had hopes that his son would follow in his footsteps into the more than stable profession of teaching. after(prenominal) pleasant his licenses he was allowed to teach at primary and secondary schools. Piet met his fathers demands by teaching but was not quenched personally and in 189 2 discrete he was after all, going to become an artist. (Mondrian Biography)He studied at the Rijksakademie van Beeldende Kunsten, Amsterdam, from 1892 to 1897 with an allowance provided by his Uncle Fritz. There he studied either full time or attended evening classes and while there he joined several artist societies. He exhibited his subject ara, for the early time in 1893 (he was 21). Traveling back and forth between Amsterdam and various parts of outlandish Holland he devoted practically all of his time to painting landscapes, foremost in the style of the The Hague take then gradually more and more abstract, omitting details he felt irrelevant. His work started to take on a more abstract style as the details of form started to get omitted, as he felt they were irrelevant. As his work got more abstract the more recognition he received and unfavorable judgment from the art community. (Mondrian Biography)In 1909 Mondrian joined a theosophical society that cast him away from his religious up-bringing as a Calvanist, but took him on a trip far from his foundation of thinking and influenced his art by his intellectual transformation. His style became a quasi-random and had disorderly qualities of nature, which started to transform his better known works of horizontal and upright piano lines. The horizontal lines represent femininity and the worldly, the vertical defining masculinity and the spiritual. He coined the term neo-plasticism where he aimed to attain a balance between the horizontal and the vertical, keeping in tune with the universe and his theosophical beliefs. In 1911 he saw for the first time the Cubist styles of Braque and Picasso at an art exhibition in Amsterdam. short after this he move to capital of France, the hub for French art and cubism, and it is believed by many, their works influenced this move. (Mondrian Biography)Mondrians style went through a transformation. He painted a series of trees, the earliest the Red tree, it has realistic form and the texture is soft. In less than a year in 1911, the painting of the Gray tree still can be considered representational but can be seen for the more abstract style. A year later his painting of an apple tree is composed of short, straight lines and slight curves, symbols of a trees elements rather than actual details. Mondrians style got simpler with implied lines and nonrepresentational shapes and their relationships to each other on the canvas. Mondrian was taken by the cubist movement, he was already advancing to a more abstract style, rejecting mixed colors and curving or diagonal lines in order to make paintings of squares and rectangles. (Baker. 297) Mondrians evolution as an artist represents the origin and essence of De Stijl. Working to free painting completely from twain the depiction of real objects and the expression of personal feelings, he developed an austere style based on the expressive potential of fundamental visual elements and their relatio nships. (Frank. 408) He labored to achieve balance and harmony, modifying shapes and lines in unlimited variations. He never received much payment for his work and not until after his death was his work internationally acknowledged as one of the most important developments in twentieth-century abstract art. He felt he had found, as he put it, A new way to express the beauty of nature, to stimulate pure reality.After moving to Paris he was internationally recognized for his exhibitions. He loved the night-life, parties and oddly the dancing in Paris. He was said to have enjoyed the company of young women. His sales of art were a few(prenominal) in Paris but he survived by painting copies of famous paintings from the Louvre. Piet returned to Holland in 1914 to visit his ill father.(Mondrian Biography)The heavy(p) War as it was called erupted in 1914 most people felt it would not be a long fought war, with Prussias rapid spankings in the 1860s and 1870. The unthinkable happened an d it became a full-scale war of nearly all societies. This was the first time the world was at war making for the moniker of World War I. Germany craved a larger empire to be had by packaging Russia into parcels and incorporating parts of Belgium, France, and Luxemburg. The French were interested in get back Alsace and Lorraine which was ceded to Germany following the Franco-Prussian War. The British craved to harden their footings in Egypt and the Suez Canal. This World War was wide-spread and involved more than the large European powers and Japan their colonies were involved as well. Over one billion Africans, one million from India, and over one million members of the British common-wealth fought in the battle fields. (Hunt. 394-401)The Netherlands were able to remain neutral during the Great War. It did so, in large part to the fact that both aggressive powers had too much at lay on the line to let their enemy invade the country. The War, transformed the feasibility of the Du tch remaining neutral. So much so, that the hopes and desires wedded to neutrality in 1914 had disappeared in 1918 and the force of non-involvement had also been threatened. The war years and all the traffic the Dutch had involved themselves in with trade and picking friends on both sides failed to live up as a valuable foreign affairs policy. They were a tiny industrially challenged country that could not entertain its very independence and nation state identity, without needing assistance from elsewhere. In another war situation neutrality could not sustain. (Abbenhauis)Mondrian was trapped in Holland for 4 years. His father died in 1915 and after his death he moved to an artists community where he conversed with artists such as Van Der Leck and Van Doesburg. Van Doesburg founded a magazine called De Stijl Mondrian wrote rough articles for the magazine. This group felt that architects and sculptors should work together to build a new society more in tune with the Laws of the Universe. This De Stijl art movement is most synonymous with the red, yellow, and blue neo-plasticism paintings of Piet Mondrian. He moved back to Paris in 1919, in Paris he had some more exhibitions, joined an art group and met American artist Harry Holtzman in 1934. (Mondrian Biography)Hitler came to power in 1933 Mondrians work was put on the list of Entartete Kunst (degenerate art). After his experience during World War I when all his paintings were left behind in Paris, he decided to leave before the dawning of the German invasion. He was in London for two years and September1940, during the German bombardment he left for America. He arrived with borrowed money in parvenue York City, Harry Holtzman found and give for his apartment and introduced him to many friends. His life in New York influenced his career with internationally important works equal Broadway Boogie-Woogie and his unfinished Victory Boogie-Woogie. He succumbed to pneumonia in a New York hospital in 1944, he was 71. (Mondrian Biography)Tableau 2 with Yellow, Black, Blue, Red, and GrayThis work completed in 1922, is cover on canvas bar 21 7/8 X 21 1/8 and is located at the Soloman R. Guggenheim Museum, New York City. ( Frank.409) The paints used in this are derived from pigment mixed with oil as a base to send the color in a liquid from. Artists such as Michelangelo and DaVinci were concocting and milling their own paints by go on and added it to oils available. In modern times linseed oil is used for pre-mixed paints and they store well, sometimes for years. Special oils and mediums are required to thin these kinds of oil paints. Linseed oil is one of the most common mediums for modern oil painters. Canvas comes in two materials cotton and linen. Unprimed cotton is a natural off-white color, and is the least expensive. It comes in several grades of thickness and quality. (MacIntosh)The work is in the abstract style which Mondrian was best known for. The vertical and horizontal lines and blue, red, and yellow, are the primary style of his earlier mentioned self named neo-plasticism. The visual element of color is utilized in a bold way. The use of the three primary colors along with drab and gray is nigh shocking to the visual senses. The use of line as a visual element is clearly a bold separation for all the color elements. The design principles of unity and variety are used but there is no repeating in this design element, only single usage of each color. The black and yellow are the only two colors that are actually touching. This gives me an emotional fear of heed when I see them together. I really wish I knew what this means. The directional forces of the bold black lines wait your sight line outward toward the geometrical shapes. I dont feel there is repetition to Tableau 2 but I can feel a rhythm with the strong emotions from each primary color. I feel the content of this work has the appearance of being incomplete in some ways. My eyes fate to tra vel along the incomplete black lines that stop short of the edges. It has a very grid-like quality, as if these dismal sections hold meaning to something more important. I think the content of the work is to make the viewer lack to see more.

Comparing two different styles of policing

Comparing 2 different styles of policingThis raise will examine the difference between these devil styles of policing and try and ascertain(p) which is soften for the fraternity.Community policing is an oxymoron, for if the patrol could serve the upstanding biotic residential area of interests there would be little point in having a police force at all fn 1However for the purposes of this essay federation policing will turn out the meaning which is ascribed to it by the Home division. It is seen as a key and permanent element of reforms to make the police service much citizen foc commitd. The aim is to build a more responsive, locally accountable and citizen-focused police service through a programme to transform policing at a local level to meet the needs of communities.ddddddThe notion of goose egg in perimeter policing was inspired by the apparent success of the move up taken in NY, and a variation of it-confident policing-pursued by DCI Mallon in Hartlepool a s closely as others deep down the UK. The notion of adjust tolerance policing is based upon the imp everyplaceished window theory and the conviction that the outstrip way to tackle beneficial nuisance is to tackle disorder in which policies such as the fellowship safety order, parental responsibility order, composite offence and final word of advice all have a role to play. It is arguable that this insurance adopts a social exclusion rather than inclusion policy approach towards community safety.The consequence may be that healthy urban futures are naturalised but not necessarily all inhabitants will benefit. annoyance, disorder, anti-social behaviour and pain sensation may all be particularly unpleasant but it is not clear if placing such a strong emphasis upon criminalisation and enforcement is the best way of tackling the problems contributing to and created by those behaviours. It leaves very little space for more constructive actions and even where it is possible to do so, they take place on terms which strengthen the criminalisation of the discourse of social policy so that the measures end up universe more about containment and turn back at bottom the community.In 1996 the capital of the United Kingdom Metropolitan Police carried out a zero tolerance initiative in partnership with the Transport Police, City of London Police and local authority councils. This initiative involved active confrontational measures to deal with homeless beggars, drug dealers, prostitutes and pimps who were congregating at the St Pancreas Railway Station. The result of the action was the temporary displacement of the undesirables to adjoining neck of the woodss until the control measures were withdrawn. The benefits included over 400 arrests of drug dealers and a raising of the quality of life for community in the area (Leigh et al 1998 73)A recent Home Office Study of policing styles noted that Cleveland Police responsible for Middlesborough remain convinced that zero tolerance is compatible with community policing in a problem oriented policing form. Cleveland police viewed it as a short term prelude to the implementation of longer term measures in high crime areas where fear of, and bullying by a minority of re stancents is having a detrimental effect (Leigh et al 1998, 26 and Romeanes 1998). The statutory enforcement powers for zero tolerance are contained within the Crime and Disorder Act with its emphasis on taking back control over unruly neighbourhoods and so it is not unreasonable or flimsy that the Home Office would give the initiative a qualified physiognomy although it chooses to term it order maintenance (Jordan 1998 72).Zero tolerance style of policing is prevalent with a majority of the public who se the police as being tough on crime. In July 2003 an ICM Poll for the think-tank Reform questioned public sustainment for zero tolerance comprising a highly visible policing on the streets way down heavily on anti social behaviour and vandalism. 83% thought that this would be a good idea, with over 50% view it would be a very good idea. Does Safer Neighbourhood Policing Help p 62-63Zero Tolerance does have the negative repercussions of souring police community relations and can antagonise racial tensions in neighbourhoods.This is in fight with the philosophy and practice of community policing which depends upon strong support from the public and sagacity from police police officers, proactive policing, problem solving and an intimate knowledge of the neighbourhood in which the police are operating, acquiring intelligence and building trust.Officers viewed fineness as an important part of community policing. A firearms officer was extraneous a school monitoring traffic and flagged down a gist aged man who was not wearing a seat belt. He managed to resist the temptation to alienate the police service further by scoring 5 easy points and after some advice, he let the man proceed on his way. A f ew months later the firearms officer ready himself in an unoccupied house where a gun had been found in very suspicious circumstances. The same man as in the seat belt incident approached him and provided invaluable information which saved numerous hours of police investigation. The officer maintained that the man serviceed him because he had dealt with him laxly in the seat belt incident and the officer wondered if the man would have assisted had he not used his discretion in the in the beginning incident? The officer tell that police should be left to use their common sense on the streets. Cited in The Public and Police by Harriet Sergeant page 52Is the answer for the two concepts to sit side by side?It would appear that the two concepts are not in return exclusive and there is a need for both within certain communities.A police system based on consensus and working in and with the community seems the better option for the community as a only. This rule allows the communi ty to be involved in the law enforcement process and encourages the community to be involved in its own safety by the casual policing of its on neighbourhood, collecting intelligence on suspected trouble makers to assist the police. Community policing allows the community to be a partner with the police in crime reduction and as such are more unfastened to police initiatives.Zero tolerance should be used selectively in reducing certain types of deviant behaviour such as anti social behaviour and also for knife and carrying weapons, but its success is special to selected areas. Its use should be limited to a short sharp approach and it should also be seen as a short term policy rather than overall police policy. It has been shown that a tactic of the targeting of repeat offenders and victims, a high level police visibility in some crime hot spots, and problem orientated strategies and police initiatives have worked. Zero tolerance style of policing can impact on human rights and l iberties but it is fashionable with most members of the law abiding community and politicians as it demonstrates that the state is seen to be tough on crime.Of course whatever is the better option for the community depends on whether you look at the community as a solid or a particular section. If one block of flats is being terrorised by anti social behaviour and zero tolerant tactics are adopted to deal with it, it will not be considered beneficial to the whole community if the perpetrators are merely dispersed to a neighbouring block within the same community.What is best for the community can also be said to be the eradication of crime in the first place, so that the causes are addressed (community policing) rather than the symptons (zero tolerance).It would appear that there is a place for a zero tolerance approach within community policing itself particularly if the community is kept informed of the police approach so that it is included in adopting the policy.So although it may be seen to some members of the community as the better style of policing overall it is better to have the community policing system which is a softly softly approach to law enforcement underpinning the relationship between the police and the community.

Marx and Epicurus Theories of a Happy and Meaningful Life

Marx and Epicurus Theories of a Happy and Meaningful LifeWhat is the go through of the point of human cosmoss liveliness implicit in Marxs discussion of alienation, and how does this paradigm contrast with the views of Epicurus? Explain which of the twain views you find more plausible and why.The use of goods and services of this paper is to evaluate the contrasting views of Marx and Epicurus for a laughing(prenominal) and meaningful biography, and at long last support the view of Marx over that of Epicurus, because it is more relevant in characterizationual times and a dash of live.This paper will develop two arguments, by which Epicurus will disagree with Marx. The first is that Marxs image is mostly colligate to materialistic considerations, where Epicurus focuses on contemplation, pleasure, and friendship. Secondly, Marx does non consider population to be intelligent, where for Epicurus erudition is the most worth(predicate) thing in life.According to Marx, wit h the emergence and discipline of capitalist economy pack work to live and they choose work to permit other(a) things, not for the work itself. They relate to a product that is not colligate to them and are thr aver into forced labor, which disconnect them from human nature (p. 2). Therefore, Marx sees importance in the singing between labour, exertion and man with human nature (p. 3). One is disoriented from his/her productions and he/she is driven extraneous from his/her nature, and wherefore from other human creations, then nature is taken extraneous (p. 3). Because e verybody is employed in the machine of economical forces champion cannot see both actu on the unity free human beings to relate with one man is alienated to another, just as each of them is alienated from human nature (p. 4). Marx disapproves of capitalism. He turn overs such an economic system is inferior as it leads to estranging people from their production, or alienation of the thing, from the ac t of production the relationship of the worker to his own activity as an alien activity, from their human species and from other people (pp. 2, 3). Thus, Marx believes that what makes us human is the conscious ability we have to be creative in a universal act of production (p.3). Therefore, capitalism deprives one from being a human. in time, according to Marx the meaning and happiness of life are infix and related to materialistic considerations. One is un expert, because he/ she produces commodities and he/ she is not related to them (Marx, 1844, p. 1). Capitalism leads to alienation of product, and this leads to all other alienations that Marx talks rough, which makes ones life unhappy. Therefore, if he was related to those commodities, he would be happy. Thus, according to Marx, activities and products are essential for our happiness.Epicurus concept is built on a pursuit of pleasure, which one could conceive with the voidance of mental and physical pain. He sees wisdom as t he most valuable virtue of all. Where, the most precious thing that wisdom could attain is friendship, from all the means that wisdom acquiresthe most important is friendship (Epicurus 2, p. 2). Therefore, Epicurus concentrates its discourse on the importance of a non-materialistic orbit. He believes in one living wisely, honorably and justly with directed interests toward tranquility of the mind. This is what Epicurus sees as a pleasurable and happy life we call pleasure the alpha and omega of a happy life (Epicurus 1, p. 2). Therefore, Epicurus will disagree with Marx. Products, no matter in what way created, should not be of primer importance for one to be happy. friendship is something that can not be simply produced, but is an established inter-group communication with another human being, through common interests, visions, discussions, unrelated to material production.Marx believes that people are not happy in a capitalists society, because they are dehumanized and alienat ed from everything in their life. Thus, Marx talks about a universal act of production that enables one to feel as a free being (Marx, 1844, p. 3). However, none of his arguments considers one to be an intelligent human being. Moreover, he says that capitalism and mass production leads to imbecility and cretinism for the worker (Marx, 1844, p. 2). His concept is based on the relation of humans to their nature, and therefore closer to their instincts. Thus, their be to the natural is inviolable and it is before a process of active reasoning in their life. In Marxs words, in terms one to be happy, he/she must be mainly active in a physical way, not on a mental level. However, one could be intellectual, when he/ she works and his/ her object glass of labour is objectification. This objectification, on the other hand, is related to the absence of alienation from ones production (Marx, 1844, p. 3). Where, Epicurus idea about pleasurable life is highly tied with the notion of one bein g wise. He says that a wise man or charwoman, that ultimately would be a happy man or woman will always think about what he/she does in his/her life and greatest interests will be, directed by reason throughout his her whole life (Epicurus 2, p. 1). Thus, Epicurus believes that there is no such thing as a chance in the life of a wise man or woman. If a wise man or woman is experiencing misfortune in his/her life that is much better thanprosperity of a fool (Epicurus 2, p. 2). Therefore, if Marx does not consider people to be wise, if they overcome the capitalists machine of dehumanization, it would be a chance, and their happiness would not be a real happiness, according to Epicurus.However in my personal opinion, living in a dominant westerly capitalist society, constrains people in the way that Marx describes. If you ask me if I am happy, I will never explain it in terms of other emotions or pleasures, pain or wisdom. I will talk about my experience as a human being, what I achi eved in life, develop and career. I will explain it with relationships to other human beings in my life. This does not mean that I don not have a life of reason, or I am not employing my intellectual abilities in my life. up to now if something happens by chance in my life I would appreciate and wonder it the same way as everything that I have planned. Thus, I believe that what we feel defines our life. When we talk about happiness and pleasure, those notions seem to be very short-sighted consideration. The meaning of mine life is a feeling about what I will leave after me, what I will achieve and how I will contribute in to this world. Does not always matter how something happens in our life, if it makes us feel complete and in touch with our instincts and nature, as Marx would agree. Moreover, relation to a universal labour and production is what better defines my vision for the world we live in.Going to work nowadays is a must for one to maintain at least basic living standard s. We do not spend enough time with our families and friends. We are enslaved in life, scheduled by our work. Thus, we spend so much time doing something, which results in products and services belonging to somebody else. Moreover, the social structure that we are part of makes work, production and use more important than our nature as human and social beings. In my opinion, no matter how much reason and wisdom we put in our actions, we will define our life, by our productivity, relations to nature and material considerations which consequently is much closer to Marxs concept.BibliographyMarx, Alienated Labor. (1844). In Jackman (ed), Phil 1100 The meaning of Life, head for the hills Kit, York University 2009, pp. 55-62Epicurus (1), letter to Menoeceus in Jackman (ed), Phil 1100 The meaning of Life, Course Kit, York University 2009, pp. 29-30Epicurus (2), Principle Doctrines in Jackman (ed), Phil 1100 The meaning of Life, Course Kit, York University 2009, pp. 31-33

External Environment Analysis For The Newspaper Industry Media Essay

External Environment Analysis For The modspaper publisher exertion Media actThe discussionpaper sedulousness is going through a decline and is torment through what could be its worst fiscal crisis as the announce revenues argon plummeting due to the economic downturn. Following the downturn in sucker media fabrication several papers either forgo their daily print for web or do go forth the delivery of print version to 3 geezerhood a week, Major publication houses filled bankruptcy. The situation is alarming and resembling across Britain, US and Europe. The Decline of once great radicalspaper is non with come in cost, it means the end of certain kind of civic sensibility that was work up on broad agreement to a greater extent or less what is all-important(prenominal) and what is not. Is it the end of the wordpaper Industry?The industry is in the midst of reconstruction buffeted by deep recession. That is battering crucial advertise revenue, social organizationd challenges as consumer turns to poverty-stricken news and information on web. Before year 2000 theme industry was a cash cow and multitude working as journalist never worried about look foring for another job. But hence internet posed threats to the problem pretense and forced industry to cut down on cost, profit margins and reduce work force. According to American Society of news editors employment in newsroom has fallen by 15% in extreme two years. Advertising has been shifting from print media to new media resulting decline in profits. Paid Circulation has declined while advertising revenue which desexs people of the newspapers in bonk has also declined. The handed-down use of newspaper being delivered at foundation is changing.Introduction of internet2.1 Effect of internetTechnology has not broadened the audience for news and has enabled well informed people to be fill in split up informed. Newspapers even have more readers then ever just now difficulty is th at fewer of them are paying. Consumer feels like a fool paying because they arouse fair selection of useful information free online. With the increasing online readership advertising brought a rising tide of revenue for aggregators, search engines there by affecting the revenue of newspapers.2.2 Industry ReactionBusiness model which newspaper industry was following is not viable with intervention of technology. It was found on 3 revenue sources newsstand sales, subscription and advertising and like a shot it relies only on advertising. total heat Luce co-founder of sequence found this notion of relying on ad revenue is morally abhorrent and Economically self defeating. Internet has broken newspapers monopoly of production and distribution. This turn has do situation which resulted a melodic line that is smaller, less profitable, competitive but also efficient and innovative. Every newspaper is trying to come up with caper models and Strategies to handle issues like declin ing revenues and expansion of media choice to consumer.Industry cultivateThe news industry has to fight back with reinvention and origination. They guide to signalize performer that may be critical determinants of threats and opportunity that industry is facing or may face in future.3.1 Industry Cost Cutting rudimentary to Survival?Bill gates said who can afford to do professional work for nothing. After Newspaper industry identified that their business model is disintegrating and is unbundling advertisement and content then they tried to make for it by putting their content onto free websites. Some publications drastically cut their print editions and focus on their ad supported websites. Newspaper Industry is now on the verge of being hanged and further rounds of cost cutting would not stave off the hangman. If they want to survive then they have to come up with cost effective revenue model. Some newspapers like financial times, Wall way Journal came up with business model to deplume certain content or certain user but they were ineffectual to dictate there terms to the buyer as their micro fee model was unable to please buyers. Given that there were m whatever options filmable to buyers and most of them free, the power of the buyers was high. One of the reasons for seller not having power was that they were not focusing on their core product which was content. Newspapers were unable to sell as they didnt had power and due to that aggregators were make money by knelling readers past ads. News folks say that aggregators are Parasites that profit from their work. Newspaper managed to survive by careful combination of free and paid for content than by new technology.3.2 Declining Advertising Revenues, Recession, and InternetWarren Buffet said that It is hard to make money buying business that is in permanent decline. But people can make money if they capitalize on opportunity and identify threats to act accordingly. The news Market is likely to rema in unstable, favouring different supplier at different point in political, economical and Technological cycle. sheath An American website aggregate news and option polls, it became essential reading during last year presidential race. Its popularity plunged 75% and rivals woolly readers. In Britain journalist have more competition from government rather than local crowd. British government have created newsletter that carry advertisings and also annual budget for differentiate owned website is far more then countrys national newspaper.Newspapers have to trust about innovations as sociologically there has been a transition in audience. The share of youth having no news at all increase from 25% to 34%, they now prefer their iPhone, PDAs and aggregators for news. Publishers and editors are thinking of reinvention and innovation that allow for work, one example is NRC-Next a daily magazine which aimed in a flash at lost generation of rich young readers. They made it look and fe el cooler so that reader feel that this is better. According to Pedersen VG Netts MD they try to identify sexiest story of the day no matter how important it is in newspaper terms.VG Nett came up with innovative idea of co-operative news media. They had employ phone line-2200 where anyone can transfer photos automatically from cell phone to their Server.News industry has economical factors that affect its growth. One major factor is advertising only revenue model. Other factors such as aggregator making money and online advertising revenue fall in 2008 due to recession, ill fortune of current micro payment system. Internet littered with failed micropayment companies like digicash, cyber cash and also some successful micropayment systems such as PayPal, iTunes. If newspapers can come up with easy methods of micro payments then they can earn apprise for most of the content.The future lies in technology and media integration. To compete with potential entrants and substitutes like aggregators, search engines, bloggers newspapers contract to adapt digital technologies and come up with business model to provide public spare-time activity journalism and still get revenue. Spread of digital technology has enabled ordinary people to file pictures and taradiddle news directly. Now first photo of any big showcase comes first on net from an ordinary person not a journalist.3.3 Searching for New Business ModelsThe Players within the Strategic classify need to adapt technology and internet based business model but at the same time they have to compete within the group and face the industry rivalry. They need to understand consumer behaviour to identify the take audience and also differentiate their product from the rest. Business strategies are varying in industry as guardians strategy is to become international translator of liberal opinion so it is investing in stories of international interest like Iraq. While Daily wants to build a reputation of famous perso n newspaper. Strategies can be based on consumer or product. Financial time attempted to fuse subscription model by making certain typecast of user pay on the other hand Wall Street Journal charges certain type of content for their e-papers. Some have schema of presenting days sexiest news no matter how important it is in journalism terms. But still newspaper industry need to figure out micro payment model which is easy and works well for consumer.3.4 Industry StructureEven in diminished state newspapers attracts rich businessmen who believe that there is money to be made after all. Boundaries between Products and customer segments are blurred in strategic group so can be a potential threat for players in the group. The nurse of core product i.e. content is not that important now because newspapers are focusing on advertising. The intensity of competition is so high that if any newspaper doesnt adapt technology correctly and doesnt come up with business model that is cost effecti ve is out of the game. The bargaining power in the value chain is so low that newspapers have to work on low profit margins to thrive in price war. Professor Charlie Backett argues that it matters olive-sized whether which newspaper get more online readers, it is irrelevant economically. According to calculation made by digital deliverances crosbie it takes 16 online readers to make up for one lost print reader.Industry Proposal and recommendationsTo safeguard from chill winds of market newspapers need to combine digital media attend with traditional media to create a co-creation experience for consumer. Newspapers should come up with business models that provide interactive services and is based on efficient micropayment model. Also they should promote public interest co-operative model of journalism i.e. use professional journalism, citizen journalism and community feedback to its best. If we think about world with no professional journalism then the situation will be very alarm ing, how internet aggregator and bloggers will get their content. We may have to save newspapers from bleeding red ink for saving select journalism to service community. Making newspapers non profitable and tax free may help in keeping it alive. May be a structure that can help newspapers to share revenues with aggregator will help. What we are visual perception is shift in the structure of media institution which understands importance of much more participatory media. In current scenario newspaper represent both a problem and necessity to society and now it depends upon media houses that how they take advantage of migration of traditional platform like newspaper to digital medium and also to hold print media.Future of Newspaper IndustryIn future newspaper will definitely move towards digital technology and will challenge print version. May be future will lie in digital notebooks, kindles, digital readers with integrated advertising and micropayment model in it.Revenues from news papers digital products will help combat the erosion of traditional newspaper revenues.

Internship Report at National Bank of Malaysia (BNM)

Internship authorship at subject intrust of Malaysia (BNM)IntroductionMy internship was performed in the country of Macedonia, much exactly, at its field of study till.This institution is the angiotensin converting enzyme that deals with the macro frugal policies applic suit subject in the kingdom. These policies solelyow a stable and coherent term economic breeding of wizard country.I opted for Macedonia because it is the country of my origins, and in addition because I think maven day I will be able to work for one of the Macedonians institutions. So this internship will help me find surface how these kind of institutions authentically work, what is the aim of their work.Macedonia is in a transition process, that undoubtedly is always characterized by numerous difficulties, which argon, in general, precise similar to an early(a)(prenominal) countries chief(prenominal)tenance these corresponding processes.The mail part of the g everyplacenance of Macedonia i s the desegregation of the country in near inter discipline organizations such(prenominal) as NATO or the European Union.While its integproportionn in NATO would secure the b rigs of the country, and a long term stability (as we cut that most under ethnic conflicts had risen in 2001), the integration in the EU, which is far to a greater extent complicated and demands a very high responsibleness of the organization, will boost the economic development of this small country with a critical bit more than 2 million citizens.The brilliance of the topic cuss, in terms of these integrations, is unavoidable. The till is responsible for the fiscal polity and rescue, for substantial indexes such as Inflation Rate, CPI (consumer bell index), which indexes help to explain the development of the country in a long term.The economic stability, and the territorial reserve stability, atomic number 18 two very cardinal things, in rewrite that Macedonia could be part of the big European family, and become a potential country that will attract foreign investments at a much high degree.I. Description of the institutionAbout NBRMOrganization chartFunctions the topic Bank shall perform the following functionsestablish and conduct the pecuniary polity as true the fluidity in the internationalistic allowancesestablish and conduct the Denar supplant prize insurance indemnityhandle and manage the foreign exchange reserves gravel the pay arranging subsidisation founding and operating bring in to a margin and a savings house and supervise the banks and savings housesgrant a license for do services of prompt money conveyance and supervise the operations of the entities performing services of prompt money raptus in accordance with a lawgrant operating license to foreign exchange bureaus and supervise their operations in accordance with a law growth banknotes and coinsperform activities for the account of the aboriginal government and the government administration bodies.THE MONETARY POLICY Monetary Policy-DesignDesigning of the monetary policyThe issue Bank of the majority rule of Macedonia (NBRM) is a central bank, and agreely, the only bank of issue in the Republic of Macedonia. Its primary objective is to principal(prenominal)tain the toll stability, frankincense being independent in the performance of its functions. The National Bank choke offs the economic policy of the country and the fiscal stability of the country, without jeopardizing the achievement of the main objective, and adhering to the principles of merchandise economy. In line with the legally set functions, the NBRM designs and conducts the monetary policy at a level of the national economy. At the end of the watercourse year, in line with the previously intractable macroeconomic framework, the NBRM works out the Projection of the monetary developments for the following year, adopted by the NBRM Council.Monetary policy name and addresssThe sustain ment of the price stability is a primary objective of the National Bank of the Republic of Macedonia, established by a Law. The establishment of this goal is in line with the current EU monetary policy layout, base on the empirically confirmed perceptions that the price stability creates most companionable macroeconomic environment for accele commitd economic growth sustainable on a long run. Until 1999, the inflation in the Republic of Macedonia was measured finished the retail prices index, turn since 2000 it has been monitored by the costs of living(a) index. In coiffure to attain its ultimate goal, the NBRM determines an intermediary target of the monetary policy. Thus from April 1992 to kinfolk 1995, the NBRM was applying the st aimgy of targeting the money preparation M1, as an intermediary goal of the monetary policy. Since October 1995, the NBRM has been implementing monetary st gradegy of targeting the nominal exchange commit of the Denar against the Deutsche Mark, i.e. against the Euro since January 2002. gibely, the maintenance of the Denar exchange pose stability is an intermediary goal of the monetary policy. The exchange rate targeting strategy is applied due to the following a. the importance of the exchange rate in a small liberal economy (the Republic of Macedonia exchanges well-nigh 80% of the GDP with abroad) b. the need of nominal anchor for maintenance of fiscal discipline and credibility c. high degree of coin substitution (over 40%) and d. exchange rate transparency and the possibility of daily monitoring by the economic agents.Money supply and money demandThe money supply in the Republic of Macedonia is subordinated to the maintenance of the Denar exchange rate stability, as a nominal anchor in the economy. The amount of money supply is persistent in line with the need of regular execution of goods and money proceedings, i.e. the economic activity in the country. The money supply is monitored finished the following mone tary aggregates M0 reserve money ( specie in circulation, banks account with the NBRM and cash in the banks vaults), M1 (currency in circulation and transaction deposits), M2 (M1, Denar and foreign exchange deposits with a maturity of up to one year), M3 (M2 and restricted deposits) and M4 (M3 and Denar and foreign exchange deposits with maturity of over one year). The lawsuit of these aggregates is monitored in line with the adopted projection. The money demand, by the definition, is determined by the income level, the price level and the short-term and the long-term saki rates. On the ground of the previous practical experience, the money demand in the Republic of Macedonia is comparatively unstable, primarily due to the transitory and the external shocks, as well as the effect of the currency substitution.Interest rate policy and transmission chemical mechanismWith the monetary policy being directed towards preserving the Denar exchange rate stability, the pertain rates and the money supply are endogenous variables, determined by the achievement of the intermediary goal. The NBRM, through its by-line rate policy, sends monetary signals to the banks, thus making efforts to influence their lending and deposit interest rates. The lowest interest rate of the NBRM is the discount rate, whereas the highest is the interest rate on the Lombard credit. Currently, the referential interest rate in the economy is the interest rate registered on the CB bills auctions, with remark to its close affinity with the interest rate on the Money Market. ascribable to the higher liquidity in the banking carcass, no need of organizing credit auctions has been registered over a certain period. However, the transmission dismissal of the monetary policy through the interest rates in the Republic of Macedonia is still poorly developed, considering the insufficiently developed fiscal market, the rigid interest rate policy of the banks and their insufficient responsiveness to the monetary signals of the NBRM.DENAR EXCHANGE RATE POLICYExchange rate policy gibe to the National Bank of Macedonia Law (Official Journal of Republic Macedonia nr. 3/2002 51/2003), the National Bank of Macedonia establishes and executes the denar exchange rate policy in order to achieve the main purpose the conservation of the price stability.Current foreign currency systemAccording to article 33 from the currency policy law, the denar rate is determined by the simple restrain of offer and demand for foreign currencies in the currency market. The denar rate in relation with the Euro is fixed by the reports from polar banks that take part in the currency exchange market. As for the other(a) foreign currency, the rate of the denar is determined by the relation between these currencies and the Euro rate, which is fixed by the European rally Bank. The obtaining and interchange rate is calculated with the addition and deduction of 0.5%. In fact, this is the way how the Nati onal Bank of Macedonia exposes every day the approved currency rates on the Currency List.The execution of the currency policyAccording to the denar rate targeting strategy, as an primary(prenominal) part, the goal and also saturated assess of the monetary policy is to keep stability between the denar and the Euro rates. If there are tendencies to the depreciation or appreciation of the denar, the National Bank interacts by selling or buying individually, foreign currencies, after what the monetary strategy becomes respectively more restrictive or more expansive in relation to the projected targets.Relationship between the monetary and the currency policy on that point is a huge dependence between the monetary and the currency policy. It is important for the Macedonian economy to keep a stable exchange rate with the euro, in order to keep price stability in the country, which element will lead to a better life for all its citizens.In October 1995 the monetary targeting strategy was overturned, and a fresh(a) strategy was embraced, called the targeted nominal denar rate strategy. With this wise strategy, the rising of the money supply is transformed into an instrument that helps, directly, on the stability of the currency rate, and indirectly, on the price stability.Currency reservesWhen the Macedonian National Bank became independent, it had no currency reserves at all. It all began in 1992, when the National Bank began creating its own reserves. The amount of foreign currency reserves is rising permanently. While in 1992, there were around US $60 million, it became US $803 million in 2003, which represents the amount of four months of import.According to article 25 from the Law on the National Bank of Republic of Macedonia, the direction of the National Reserve is in the hands of the National Bank itself. It has also to duty to prepare and consolidate reports every 6 months.On behalf of the management of the National Reserve, the National Bank, accord ing to article 28, is loyal to the principles of awareness, liquidity and profitability.The exchangeability conceptThe Macedonian currency has a present exchangeability. In June 1998, Macedonia has accepted article nr. 8 of the International Monetary Funds Statute, which state that all currents transactions between residents and non-residents stomach be carry throughd freely, without restrictions. As part of this agreement between the National Bank of Macedonia and the IMF, was also the liberalisation of capital transactions.The direct investments of residents abroad, and of non-residents in Macedonia, are now free, except of a taxation fee in order to register by the ministry of economy. Non-residents can now invest into any Macedonian company, to start their own companies, and to buy shares so that they can become shareholders of all enterprises listed on the Macedonian nisus Exchange (MSE 10). The profit and all the capital investments can be interpreted keister to the non-r esidents place, if there are no more liabilities towards the government.Non-residents, on behalf of diplomats, and other embassy representatives, hire the well(p) to buy sincere estate, provided under certain conditions of demand and registration at the Central Registry of Macedonia.Residents whitethorn treat and sell native shares at foreign financial markets if he/she has the allowance from the Commission of shares and financial instruments.Credit transactions are also liberalized, in and abroad the country, so that the funds can move loosely, barely for that, the National Bank needs to be informed.Residents may use foreign currencies obtained from transactions made with a foreigner to clear any debt he has, or also use them in the currency market to exchange them into the national currency. In order to pay with a foreign currency abroad, a resident may buy these currencies in exchange offices. Other residents, such as physical persons, can also exchange their money for oth er purposes, not only for business. As for the opening of an account abroad, residents need to be authorized by the National Bank itself.It is possible for any non-resident to open a denar or foreign currency account, and to use it whenever he/she wants to, with no objection. simply there is a limitation on the amount of pays a month, this limit is 10.000 Euros.But, in case of disorder of the balance of payments or the financial system, the National Bank can pr all the samet the circumstances to worsen by application of just about restrictions.PAYEMENTS SYSTEMS IN MACEDONIAGeneral Features of the Payment SystemThe payment system represents a sum of instruments, procedures and infrastructure for money transfer. It is of great importance for all economic agents since it enables fast and efficient payments in the national economy.The payment system of the Republic of Macedonia can be presented schematically asThe central bank, which runs the accounts of the deposit money institution s the banks, is at the top of the payment system. In the payment system, the central bank has the following functions operational, development and function of monitoring of the other payment systems in the country.The banks, which run the accounts of other legal entities and natural persons, lie in the following level. Running of the accounts is decentralized which means, each bank runs only the accounts of its clients. In order to execute and perform prompt settlement of the large survey payments and urgent interbank payments, the system of the central bank is used. For netting the small think of payments, a specialized institution the Clearing House for small apprize payments is used, opus the results of the netting are later settled in the system of the Central Bank.Start of the New Payment SystemOn July 30, 2001, the operable implementation of one of the most complex reforms in the Republic of Macedonia, the clean up in the Payments System, commenced. This Reform is man aged by a Steering Committee comprised of experts from the National Bank of the Republic of Macedonia, the Ministry of Finance, the banks, the Payment Operations Bureau and eminent professors from the faculty of Economics in Skopje.This start represents a rise of a new payment system designed according to the payment systems of the countries with developed market economies. The new payment system enhances the competitive component of the banks and represents a essential for implementing new banking products which increase the skill of the banks and the banking system as a whole. The competitiveness induces new IT tendencies in the banking operations. The reform enables more efficient monitoring and management of the liquidity of individual banks, as well as better efficiency in conducting the monetary policy.The previous payment system (effective until December 31, 2001) corporate strong static components and limitations both regarding the options, as well as scientific limit ations, which represented an obstacle for the future development of the financial infrastructure and the financial system as a whole.The implementation of the new payment system was encompassed a transitional period from July 30, 2001 until December 31, 2001, during which besides the implementation of the new systems, the Payment Operations Bureau continued with its operations as a specific payment system.The National Bank of the Republic of Macedonia has important functions in the new payment system, which are stipulated in the new Law on Payment Operation.BANKING SUPERVISIONAccording to the Law on the National Bank of the Republic of Macedonia and the Banking Law, the National Bank of the Republic of Macedonia is the only supervisory sanction responsible for licensing and supervision of banks and savings houses in the Republic of Macedonia.The main purpose of the supervisory function performed by the National Bank of the Republic of Macedonia is the maintenance of safe and sound banking system and protection of the depositors and other creditors that had invested their money in the banking system. The National Bank of the Republic of Macedonia has established supervisory standards that are incompliance with the international standards and practices set by the Basle Committee on Banking Supervision.Supervisory standardsWhile performing their activities, banks are obliged to comply with the existing supervisory standards that are utilise for the purpose of limiting the banks insecurity exposure. The supervisory standards established and utilize by the National Bank are derived from the Basle Committees principles and the European Directives. The most important standards implemented by the National Bank arecapital adequacy, i.e. maintenance of an equal capital base that will enable covering of the risk visibility of banks. The capital adequacy ratio calculated as a ratio between the banks own funds and its risk weighted assets, must not be lower than 8%cri teria for classification of on-balance and off-balance sheet asset items of banks according to their risk level and determining adequate amount of impairments and special reserves for coverage of the banks potential and/or established lossesexposure limits as a ratio between the total on-balance and off-balance sheet exposure to a single persons and group of connected persons and the banks own fundslimits of exposure to the FX risk and the manner of managing this type of risklimits on investments in land, buildings, equipment and equity holdings. end COINS AND BANKNOTES1. Legal Tender in the Republic of MacedoniaLegal tender in the Republic of Macedonia is the Macedonian Denar, consisting of 100 Deni. The National Bank of the Republic of Macedonia has the max right of printing and issuing banknotes in the Republic of Macedonia.Macedonian banknotes in circulation (issue 1996 and 2003) 5000 Denars issue 1996 1000 Denars issue 1996 and issue 2003 500 Denars issue 1996 and issue 10 0 Denars issue 1996 50 Denars issue 1996 10 Denars issue 19962. impression and characteristicsThe lower banknote denominations of 10, 50 and 100 denars are printed in Macedonia, while the banknotes of 500 and 1000 denars (1996 issue) are printed at Thomas de la feel, London. The last banknote issue of 2003, 500 and 1000 denars denominations, was also printed in TDLR. The Macedonian banknotes posses several security features like watermark, windowed-thread, intaglio print, latent image, micro-text, support feature, and optically variable ink.3. Institutions which Act as cash collectorsInstitutions which act as cash collectors are the National Bank of the Republic of Macedonia and commercial banks.II. Internship expositionAs I am from the Republic of Macedonia, I thought possibly doing an internship there would be a plus for me. I graduated in Macedonia in 2002, so I truly wanted to go back there to an internship, which I think it was a good idea in order to put together what Ive giped at university and whats happening in the real life out there.I think it is crucial for a student, or a future graduated student, to learn and make the colligate between theory and real life practice in order to get ready and not surprised or shocked when frontmost meeting life for real.The reason also wherefore I chose Macedonia to complete my internship, is that one day after graduating in Belgium, to be able to go back there, and work for my country, which would be much easier if the internship was through with(p) there, especially at a very important institution, its National Bank.But, it is also important to think that in this kind of countries, it is difficult and complicated to find a company, cloak-and-dagger or public, that would accept a future graduated student to do his/her internship there. This is also the position of national institutions.In such countries, that are living in transition, and where this process takes so long, and has many difficulties, the puzzle of informal economy is very present in the everyday life. This is the reason why, it is so hard to find a company that would offer you a normal and appropriate internship, unless, of course, if you may know the head of the company or institution.I was, unfortunately, not in this case of knowing somebody important to either hush-hush or public institutions. Regardless this fact, I still applied and send the demand of such internship at the National Bank of Macedonia. It likewisek very long to get a response from them, but it finally came positive. subsequently this, they were some complication, especially during the 2007 summer, for me to begin with the internship. In fact, there were some procedures to respect, which were not told to me and which I didnt know. Above all, the extreme heat of that summer had an impact on the government to reduce much of the working hours, especially in its institutions. That is the reason why I could not manage to start the internship t hat summer.My internship could finally be done during the three months of holiday granted to last year students at ICHEC. I was accepted by the human resources manager at the Bank, who interviewed me, especially to learn nearly my background, such as school, political, interests on the National Bank, and so on. aft(prenominal) that I could finally begin with the internship.I was told to begin the very nigh day, after signing a convention of behavior at the Bank. I was supposed to start at 8 am and finish at 4 pm, which is the work time of each functionary working at this institution.After the interview, the Human Resources Manager advised me, in relation with my interests, to do the internship in the Research and Development part of the National Bank.It was a little confusing, because in general, students are allowed to come for their internships a few hours during working days, while I was invited to go there all day long. It was a something I didnt expected at all when I appli ed for this internship. But the conditions were condition by them, so I did not wanted to react to the highest degree that. But it was not the best manner to execute and learn about my topic.When I begun the internship, I had the toil to read the reports that are issued by the National Bank itself. Actually, I didnt understand why I had to do this, but everybody told me they had done so when they started work at the Bank. It was also the way internship students started at this institution. It was a little confusing, but I had to rely on this task.This narration of the reports helped me though to learn further more of the different indexes that are studied, and their importance in order to measure the development of the macroeconomic policy of Macedonia. But I would have been more satisfied if I was told before beginning this internship to do so, in order to not waste my time practice session during my internship, which was limited in time.First, I had a topic that seemed very cl ear and comprehensive to me. But after a few days at the Bank, I understood that something had to be changed in this topic because as I was entering my internship everyday more and more, I could see that my topic was too vast, and it could not really help me for my final paper, which would be related to with the internship.After many consultations with my internship advisor, and also with participation of the head of the sphere, I decided to in some manner change my topic.At the beginning, I was opting for a study about the macroeconomic indexes, such as Inflation Rate, Unemployment Rate, CPI (consumers price index), etc. These indexes are studied and performed by the National Bank of course. But as I said, it was really a vast topic, which could have gone nowhere, and finally not helped me much to the purpose of the internship.So I opted for a change. This change was more directed towards the brawniness sector of Macedonia, and how energy has an influence on the economy of this country. This idea came, as I said, after consulting people working there, but above all, after attending on a presentation performed by a professor of the Cyril and Methodius University of Skopje for the National Bank.The professor presenting was Dr. Vlako ingoski, and the topic The Electro-energetic maculation and Perspectives of Republic of Macedonia. The presentation was mainly on the problems concerning the energetic sector of Macedonia, from its independency until today, the current situation of energy and also the most probable and real manners to overcome the negative balance on this sector. This presentation really opened my path, and helped me a lot into finding a new and more specific topic for my final paper.Other presentations regarding energy, and the energetic sector concerning Macedonia were performed after. I attended all of them, as my interest was since balancing toward this topic. I was allowed though to be present at these meetings, so it helped me further more in my focusing. The other presentations were performed also by professors, or people working in the management of electro-energetic companies.But my internship wasnt all about attending presentations, and taking notes of them. As I said, I was accepted at the Research and Development department of the Bank. This department, which was the one where my main advisor worked, is the principal responsible for the construction, consolidation, editing, and writing the annual, trimester, monthly, and even two-weekly reports concerning the development of the economical situation of Macedonia, and comparing them to other countries, mainly from the Balkans.These reports have different parts, in general. The first part, concerns the economic development in a global point of view. Next we have the development of Macedonia, then the monetary development, the capital market, etc.Generally speaking, they are specific teams that work on a specific part of these reports, but the teams can sometimes c hange. My main advisor was more active on determining and calculating macroeconomic indexes, and then, comparing them with the same indexes of one specific period of last year, or same periods in the past. That was in general his role, and the one of his team.In fact, I was introduced at his computer to see how things are going, working thus with these indexes. either indexes were calculated via Microsoft Excel, and a software, which is frequently used by National Banks in the region and wider, called eViews. I was not able to have this software on my computer, as it is a program only the National Bank of Macedonia may use. This is why I couldnt really get deep into this software, in order to understand how it works, and what data or information it offers.So, the whole things was to take right data, transform and calculate them into indexes, compare them with same indexes of past periods, design different graphics and tables so that it is more comprehensive to the reader, and final ly do the explanation of the results.The data I mentioned before, which are the base of these indexes, are delivered from the Statistical mogul of Macedonia. It is this office that has almost all statistical data for the population living and working in Macedonia. It also has information about the housing sector, which is important to calculate some indexes, such as inflation and CPI.Then, I was able to start and calculate myself some basic and simple indexes, but mostly, I was asked to compare them with the past permofmances. This is not a very difficult task to do, as I have had many statistical classes during my study days both in Macedonia and Belgium.But I have to say that, my internship was far from what I was expecting. I am conscious that the period I was able to do the internship, was a full working period. Everybody there was working at high speed to finalize the annual report of 2007, which is the most important, and also most voluminous of all. So, they had not very m uch time to authorise with me and my internship.In general, this internship enabled me to see what the sector works in real terms, and also, it was very important for me that I was able to have access to the Banks library, and also to many publications that I saved, which helped me analyze the data that interested me more after I was done with the internship.III. Technical PartIntroductionAs I mentioned in the introduction of this internship report, I was first keen on studying the macroeconomic indexes that the National Bank of Macedonia uses in order to develop its reports (annually, monthly, even 2 weekly reports) that are required by many organizations such as World Bank, the ECB, the International Energy Agency, etc. But after some time, I realized I should be focusing more on one specific matter, and that was the energetic sector of Macedonia.I think the problem of energy, globally speaking, is becoming more and more an important issue, that is undoubtedly an unavoidable fact or for the economic growth and development of one country.Especially, in countries such as Macedonia, who arent very rich in natural resources, this situation can have a huge impact, having in mind that these countries are exceedingly dependent on the import of energy producing products.The reason why I chose this topic to study is, that it is a problem everybody talks about in these days, as we are conscious of the high prices of oil in the young months. This is another important factor that pushes the issue of the Macedonian energetic sector just further.This study provides an overview of the investment and policy choices in the Macedonian energy sector. On the investment side, the study highlights the criteria under which potential investments in a new Combined Heat and Power (CHP) plant and a new coal mine should proceed. The Report focuses on reforms that would be required to support the CHP project, namely ratification by Macedonia of the Kyoto Protocol and resolution of own ership issues related to the gas pipeline linking