Derivatives Mishaps Example For Free - Free Essay Example

Sample details Pages: 8 Words: 2539 Downloads: 4 Date added: 2017/06/26 Category Finance Essay Type Research paper Did you like this example? Metallgesellschaft Corporation is one of the subsidiaries of Metallgesellschaft A.G. , a German Conglomerate which largely owned by institutional investors and banks such as Deutsche Bank AG, the Dresdner Bank AG, Daimler-Benz, Allianz and the Kuwait Investment Authority. In 1993, Metallgesellschaft Refining and Marketing known as MGRM which is one of the Metallgesellschafts trading subsidiary, had decided to establish a huge amount of derivatives positions which consists of futures and swaps to perform hedging on its price exposure and MGRM was to sell certain amount of petroleum for up to 10 years at a fixed prices. Don’t waste time! Our writers will create an original "Derivatives Mishaps Example For Free" essay for you Create order Mostly the clients or customers of MGRM are retail gasoline suppliers, large manufacturing firms and government agencies. The total amount of petroleum barrels that MGRM had committed to deliver are 160 million barrels. MGRM provided their customer petroleum at a fixed price who they often face liquidity and margin issues when oil price rises and MGRM believed that it is possible to arbitrage with the spot market and long term contract. MGRM had provided their customers a chance to shift the price risk in the fluctuating oil price market as MGRM had confidence in their financial resources were able to manage risk transference efficiently. One of the MGRM hedging strategy in order to manage spot price risk was to use front-end month futures on NYMEX. Besides that MGRM employed stacked hedging strategy but not spreading them over longer dated and maturity. Eventually, things went opposite to MGRMs assumption and Metallgesellschaft had reported a total loss of $1.3 billion in late 19 93 . Metallgesellschaft had requested bailout from the investors and banks with a total amount of $1.9 billion in order to rescue and prevent it from going into bankruptcy. Causes of Derivatives Mishaps One of the causes that lead to derivative mishaps is the assumption of economics of scale and was mistaken by MGRM by going for long future and entered into OTC swap agreements. When the prices of the oil rises, MGRM will generates a gain but when the price falls, MGRM will suffer losses. Therefore, this rolling strategy is working when MRGM hedging against MGRM clients trades when only the oil price drops while MGRM suffer loses when the price rises . MRGMs forward contract has leaded them into a dangerous position when there is a rising price of the oil. Such hedging strategy had been exposing the firm to three risk which is the basis risk, liquidity risk and also credit risk. The firm was hedging with a maturity structure which was mismatch with its delivery contracts. It will expose the firm to basis risk because the value of the short dated futures positions is not compensated by equal and opposite variations in the value of the long-dated delivery contract. The value of th e contract will not be able to hedge perfectly because of the mismatch of the maturity. All the gain and losses are settled daily. The holder need to pay or receives an amount equal to the daily change in the future price. When the price drop, MRGM need to incur negative cash flow to fund for the margin calls. Besides that, the future contract contained an option which enabled the counterparties to closure the contract early if the New York Mercantile Exchange future contract was greater than the selling price of the MRGM. This option is attractive to the customer which have financial distress problem. Other than that, the hedge was created with a view that the market would be in backwardationÂÂ  situation. The risk manager believes that the market will remain in the backwardation because it is usually happen in the stock market. Therefore, they decided to follow the hedge strategy. However, the market has shifted to contangoÂÂ  where the futures prices are higher than the spot prices. This causes the increasing in the cost of the hedge. All the gain due to the short positions was more than offset by a loss due to the futures positions. It will causes certain issue as to the size of the firms total open interest was a larger percentage of the total and making these position to be liquidated will be harder and more challenging. The firm also exposed themselves with the risk that not having enough amount of funds in case of immediate margin calls. The firm faced some problems in providing certain amount of funds to maintain the position.A hedge is supposed to transfer away the market risk but the firm was exposed to the risk that needs to find out the cash for the immediate margin call that caused by the contango effect. They were exposing themselves to 85 days worth of the entire output of Kuwait. If oil prices happens to decrease, MGRM would incur losses on their dedicated hedging positions and would undoubtedly receiving margin calls. As such leading to negative cash flow in the short run as no cash would be received for the gain in the value of the forward contracts until the oil was sold although the gain in the forward contract positions would offset the losses. No economic loss would occur because of their hedge strategy, but the size of their position created a funding risk. The stack and roll strategy cause the losses because in a contango market the spot price decreased more than the futures prices. Other than that, German accounting standards also compounded MGRM problems. Lower of Cost or Market (LCM) accounting is a standard required in Germany. While in the United States, MGRM undoubtedly met the requirements of a hedge and received hedge accounting. Therefore, profit was shown in MGRM financial statement. Their hedge losses were deferred because they offset the gains of their forward contract. However, MG was required to subscribe their current losses without recognizing the gains on their fixed-rate fo rward positions until they were realized by using LCM. MGs income statement was a failure since the German accounting standards did not allow for the netting of position.. This drastically changed the market arena for MGRM. Therefore, the swap counterparties required additional capital to maintain their swap positions and the NYMEX imposed more margin requirements on MGRM more than doubling their performance bond requirement. MGRMs positions may not have alarmed the marketplace and they might have been able to reduce their positions in the OTC market without getting their eyeballs pulled out if the hedge accounting had been acceptable in Germany. Hedging Alternative to Avoid Mishaps In this hedging activity did by Metallgesellschaft (MGRM), by guarantying their customers fix price for gasoline, heating oil and diesel fuel. This hedging had make MGRM expose to many different risk, price risk, credit risk and delivery risk. MGRM could use many different ways to hedge their position. These hedging strategies have pros and con as shown below. Alternative A MGRM can use lower hedge ratio, reducing the hedge ratio will minimize cash flow variance and increase the companys liquidity risk. It also takes into account on basis risk, use correlation of assets as hedge ratio. However, by using this strategy MGRMs dynamic adjustments could be expensive; this is because the transaction cost will eventually increase. Alternative B MGRM could hedge with short maturity forwards; this action will let the company to reduce basis risk because MGRM has long short term futures. This action also increases the companys liquidity in market. Alternative C The other option for MGRM to hedge is to include option as part of their hedging strategy. Company could always use option to limit their lost to make sure the risk they face is manageable. MRGM could long zero cost collar as part of their strategy. Zero cost collar is a type of positive-carry collar that secures a return through the purchase of a cap and sale of a floor.ÂÂ  Also called zero cost options or equity risk reversals. This could limit their downside lost. Besides, MGRM also can use long call option with similar maturity to protect themselves from exposing to too much risk. With call option, the company face limited downside and have give the company to realize unlimited profit. As show in the graph, x-axis shows the profit of the company and y-axis shows the price for the underlying asset (gasoline, heating oil and diesel fuel). Alternative D Furthermore, MGRM can transfer all the risk to a third party by selling off all the delivery contracts. By selling the delivery contracts, the company will obtain an origination fee that makes sure a certain profit. The cons from the action is the company has to give up most of the expected profits because not matter how much the contracts earn; the profit will be transfer to the third party. Besides, due to the complexity of the contract it will be hard to sell it. These contracts have non-transparency problem including counterparty risk, embedded option, long term maturity contracts, etc. Alternative E Another alternative is the company own physical storage of the underlying asset. The company can create a large network of storage facilities, having lots of inventory will help company to meet customers demand. But, this alternative is not practical, because it is nearly impossible to store oil for 10 years and it will be very expensive to pay the storage cost. These are the suggested alternative that MGRM could use. But the final decision will still based on the financial experts. They will analysis the current economic performance, inflation and etc to make their final decision. Lessons Learnt from Hedging: Metallgesellschafts near-collapse and experience with derivatives suggests some lessons. Value hedging and cash flow hedging is very important because a hedge with mismatched maturity can create to an enormous funding risks. Problems may occur when a hedging strategy is set up without a careful regard for the financing it may require. MGs strategy should make both of the cash flow patterns and its firms value a crucial part to consider or put it as the main concern. Besides that, another lesson learned is that the accounting and disclosure conventions must be appropriate. Conflicting and inappropriate accounting and disclosure conventions can create uncertainty about a firms hedging strategy and make it difficult for the firm to raise income when it needs to. The case of MG shows the dangers of treating derivatives positions differently from the assets or liabilities that the derivatives are being used to hedge. There should not be accounting reorganization of gains and losses o n derivatives positions used for hedging unless the gains and losses on the positions that are being hedged also are recognized. In additional, it is also very important that both senior managers and the board of directors of a firm should understand how a firm is using derivatives. They should understand the risks associated with it if they use derivatives as part of the hedging strategy. In other words, approval from the board is needed before the strategy is implemented. Senior managers should understand the firms exposure to changes in prices and to basis changes, and should be informed about potential funding needs. For the case of Metallgesellschaft, it is believe that its supervisory board did not fully understand the risks associated with MGRMs forward-contracting and associated hedging strategy or did not correctly evaluate these risks when approved the strategy. Metallgesellschaft also gave us a lesson about the important of boards and managers to acknowledge financi al and regulatory constraints. It is important for hedgers to foresee or expect and to manage funding needs. Financial institutions or the creditor banks play an important rule here. It needs to have the backing of financial institutions that understand and approve of the firms use of derivatives, and are willing to advance credit to fund margin outflows on derivatives positions. For the case of Metallgesellschaft, it is believe that they did not have such an understanding with its creditor banks. Another lesson we can learn from Metallgesellschaft is that cash is the crucial thing when in the time of distress or debacle. Metallgesellschafts delivery contracts were not liquid enough and facing difficulty to the extent of very low possibility to sell it off at a reasonable price. As the strategy was not able to finance by it ownself, Metallgesellschaft had to request bailout from investors and banks to settle its market debts and avoid bankruptcy. Other than that, complexity is another matter influence the risk management which will makes the risk management more difficult. Somehow, the implementation and analysis of Metallgesellschafts strategy was rather complex than the original strategy planned beforehand. The complexity of cash-out option ,delivery contracts and their enormous derivative positions had cause difficulty in evaluating its economic of oil trading. Complexity indirectly building obscurity and confusion resulting in vulnerability in business and difficulty in financing. Last but not least, the other lesson that can be learned is that a firm which established a huge position in market will never gets undetected. When a firm controlling such a large share of open interest, markets can become dysfunctional in two ways which is either the company can gain competitive advantage and to eliminate its competitors , if those participants remain stagnant and disorganized; or the company itself can be eliminated, if other market competitors begin to fulfill the role of counterparty and trade against the company in an organized manner. As Metallgesellschaft gigantic hedging position is transparent enough to alert the specialists in the oil markets, the specialists knew that Metallgesellschaft would have no choice but continue rollin. The specialist traders were waiting for the chance when Metallgesellschaft started to move a big position . Eventually, the lessons we can learned from the case of Metallgesellschaft include the importance of value hedging and cash flow hedging, the accounting and disclosure conventions must be appropriate, both senior managers and the board of directors of a firm should understand how a firm is using derivatives, the importance of boards and managers to acknowledge financial and regulatory constraints, cash is King when in the time of debacle, avoid complexity which affects risk management and a big position in the markets never goes undetected. Conclusion Although hedging is a good way to manage a firms exposure to risk, risk manager should be always be aware and be careful when performing hedging. As what had lead to MGRMs derivatives mishaps is they had overhedged , all the necessary information and data must be collected and carefully calculated and the right amount of the underlying assets needed to be hedged should be measured well planned beforehand. Besides that, Board of Directors and managers must understand the derivatives strategies and implication. As from the case of MGRM , it suggest that the Board might not fully understand the risk associated with the hedging strategy and did not evaluate the risk when approving them. So its critical that Boards and manager must understand the using of derivatives as hedging strategy and their potential risk and ramifications. In conclusion , hedging will be beneficial to firms as it can work as protection against price movements but it will works against you like what had happ ened to Metallgesellschaft if one does not carry out the hedge cautiously, so everything must be planned carefully and managers must be sensitive and knowledgeable about the risk of hedging and always aware of regulatory actions by the officials and potential consequences when establish a hedging position.

The Perception Of Media During The 20th Century - 1067 Words

â€Å"Right on the shooting line, right on the frontier of change.†- stated by one of the most intelligent, and influential communication theorist of all time, Marshall McLuhan, has advanced and changed the worlds perception of media during the 20th century. â€Å"The medium is the message† is said to be one of the most famous statements in history as it focuses towards the overall idea of media, studying the traits and effects of the senses of an individual. Though he is hailed as an influential figure of the internet age, having understood the power of the internet long before anyone else, many new things have been introduced to the world of media today. Whether it is an app to communicate through the use of images and tweets, or an online movie†¦show more content†¦First, let us touch upon what really is a smartphone, and the evolution of the medium itself. Although the mobile phone has been used for many decades, the smartphone has been one of the most succ essful stories of the last decade with the advancement and complexity. Smartphones are mobile devices that offer not only the basic functions of a phone with having the ability to send a text and communicating through calls, but also being able to perform many advanced functions of a computer. Internet access, high quality camera, exceptional memory, recording devices, geo-positioning systems and more are all included within the smartphones in this day and age. With the creation of simply downloading any app on the smartphone also constructed a dynamic feature for the industry. There is an app out there for just about anything and everything, whether it is for social needs, entertainment needs, or even educational needs. This medium has forced us to adopt this certain culture where we are always connected to our peers, communities and the world. The smartphone has pierced itself into society, snatching a huge number of subscribers from five year-olds learning how to spell and speak with an app, to senior citizens keeping in touch with their family and a safety device in the event of an accident potentially.

Major Risk Factors Of Cardiovascular Diseases Health And Social Care Essay Free Essays

Methodology: An urban based descriptive, cross sectional, quantitative survey was conducted among 144 adolescent pupils of class XI and XII in one populace and one private higher secondary schools of Kathmandu territory. Students and schools were selected purposively. Datas were collected with the aid of semi structured ego administered questionnaire. We will write a custom essay sample on Major Risk Factors Of Cardiovascular Diseases Health And Social Care Essay or any similar topic only for you Order Now Questionnaire was based on Likert graduated table. Data analysis was performed by utilizing SPSS 17.0 for Windows. Consequences: Overall 36.8 per centum of respondents had good cognition, 55.6 per centum had fair cognition and the left 7.6 per centum had hapless cognition sing the major hazard factors of CVDs. Beginnings of wellness information was found statistically important ( p=0.004 ) with the cognition of respondents. Sing overall attitude, the bulk ( 47.9 % ) had the impersonal attitude followed by positive ( 31.9 % ) and one fifth possessed negative attitudes. Knowledge versus attitude sing the major hazard factors of CVDs was found statistically important ( p=0.002 ) . Decision: Consequences of this survey revealed that good cognition every bit good as positive attitude towards major hazard factors of CVDs among the adolescent pupils is unsatisfactory. And socio demographic factors for good cognition and good cognition for the development of positive attitude dramas critical function. Cardinal words: Knowledge, Attitude, Major hazard factors, Cardiovascular diseases, Adolescent Introduction Cardiovascular diseases ( CVDs ) are a group of upsets of the bosom and blood vessels.1 Surveies have shown that some people are at greater hazard of cardiovascular disease than others. Factors linked to an increased hazard of developing cardiovascular disease are heredity or household history, age, sex, baccy chewing/smoking, raised blood cholesterin degree, high blood force per unit area, physical inaction, inordinate intoxicant ingestion, corpulence and obesity.2 Although cardiovascular diseases typically occur in in-between age or subsequently, hazard factors are determined to a great extent by behaviors learned in childhood and continued into maturity, such as dietetic wonts and smoke. Throughout the universe, these hazards are get downing to look earlier. Physical activity decreases markedly in adolescence, peculiarly in misss. Obesity has increased well, non merely in Europe and North America, but besides in traditionally slight populations such as the Chinese and Japanese.3 B y the clip that bosom jobs are detected, the implicit in cause ( coronary artery disease ) is normally rather advanced, holding progressed for decennaries. There is hence increased accent on forestalling coronary artery disease by modifying hazard factors, such as healthy feeding, exercising and turning away of smoking.4 More than half of the Nepali work forces and about one fifth of the Nepali adult females were found Current baccy users ( both fume and smokeless signifiers ) . And the average age of the start of smoke was found to be 18.8 old ages for work forces and 12.9 old ages for adult females. Similarly more than one 4th of the respondents were found to be current users of alcoholic drinks. Around 9 % of the population was found to hold reported prevalence of high BP as told by their wellness attention professional. And around 7 % in both sexes were identified fleshy whereas out of entire respondents, more than 80 % were found holding either one or more hazard factors.5 Bed tenancy rate of Shahid Gangalal National Heart Center was 85.61 % which was the 2nd highest among the cardinal infirmaries. And the instance burden of the in the same infirmary during Fiscal Old ages 2005 to 2008 was in increasing tendency by more than 14 % per year.6 CVDs are the taking cause of morbidity and mortality worldwide.7 The South Asiatic states Nepal, India, Pakistan, Sri-Lanka and Bangladesh contribute most to the worldwide CVDs load. 8 In Nepal, it is estimated that 5.6 % of people populating in the mountains, 1.5 % in the hills and 5 % of people in the terai part suffer from CVDs. Five to 20 % of grownups are reported to endure from high blood pressure, with a lower prevalence in the rural countries. 9 Methodology An urban based descriptive, cross sectional, quantitative survey was conducted among 15-19 old ages old adolescent pupils of Kathmandu territory. The survey was took topographic point after the blessing of research proposal by the research commission at the Department of Community Medicine and Family Health, Institute of Medicine, Tribhuvan University. The questionnaire for the study was constructed taking mention of WHO STEPS Manual for chronic disease. To mensurate the peculiar and overall attitude widely utilizing Likert graduated table was applied. The questionnaire was prepared in Nepali, a local linguistic communication, so that pupils could understand easy. Questionnaire was pretested. Before the study conductivity intent of the survey was explained and informed consent was taken from school disposal every bit good as from the pupils. Schools and pupils were selected purposively. Selected both of the schools were from Maharajgunj vicinity of Kathmandu territory. Among the two schools selected, one was public ( Shivapuri Higher Secondary School ) and another was private ( Orient International College ) . All present pupils of one subdivision in each of class XI and XII were involved to make full up the ego administered semi structured questionnaire. Out of entire 492 pupils enrolled 144 ( 29.3 % of the sum ) were selected, 75 from grade XI and 69 from Twelve, for the survey. Data analysis was performed by utilizing SPSS 17.0 for Windows. To prove the statistical significance of cross tabulated informations, non parametric chi-square trial was applied. Study took topographic point in November 2010. Consequences Socio demographic Features of the Study Population Median age of the respondent was 17 old ages. Sexual activity ratio was 1.03 ( M: F ) . Brahmin/Chhetri possessed 47.9 per centum followed by Mongolians ( 26.4 % ) , Newar ( 19.4 % ) and other castes ( Majhi, Pariyar, Tharu etc ) possessed 6.3 per centum. Major faith was Hindu ( 84 % ) followed by Buddhism ( 11.8 % ) and 4.2 per centum were Christian. Most of the respondents ( 83.3 % ) belonged to middle category household followed by higher category ( 14.5 % ) and 2.08 per centum were from lower category household. 20.8 per centum of respondents ‘ male parent and 46.5 per centum respondents ‘ female parent had no formal instruction at all. Service, agribusiness, concern and homemaker were the major businesss of the respondent ‘s parents. Sing the question whether they had of all time known anyone ( family/friends/relatives ) diagnosed as CVD. Remarkable per centum ( 42.4 % ) was responded as â€Å" yes † . Similarly sing the question about chief beginning of wellness information, the bulk ( 44.5 % ) were responded that they were acquiring the wellness information from electronic media ( Television, Radio, Internet ) followed by Family/friends/health worker ( 28.4 % ) and from publishing media such a newspaper, curricular books etc. ( 27.1 % ) . Knowledge sing the major hazard factors The highest 91.7 per centum respondents identified baccy chew/ fume as a hazard factor followed by inordinate intoxicant ingestion ( 88.9 % ) , fatty/oily/ high cholesterin ( 87.5 % ) , high BP ( 86.1 % ) , obesity/overweight ( 69.4 % ) , physical inaction ( 59.7 % ) , old age ( 52.8 % ) and the respondents who identified heredity as a hazard factor of CVDs was 48.6 per centum. Knowledge rating sing the CVD hazard factors Table 1 shows that the highest ( 55.6 % ) had the just cognition followed by good cognition ( 36.8 % ) and 7.6 per centum had hapless cognition. Table 1: Knowledge rating sing the CVD hazard factors ( N= 144 ) Knowledge Grading Number ( n ) Percent ( % ) Poor ( lt ; 4 right response ) Fair ( 4 – 5 right response ) Good ( gt ; 5 right response ) Entire 11 80 53 144 7.6 55.6 36.8 100.0 Analysis of cognition by socio-demographic features of respondents Findingss show that good cognition was higher in males ( 42.5 % ) than the females ( 31.0 % ) . Majority of respondents of Newar ethnics ( 53.6 % ) possessed good cognition than that of other ethnics. Good cognition was found highest among respondents of higher category household ( 38.1 % ) followed by in-between category ( 36.7 % ) and lower category household ( 33.3 % ) . Findingss besides show respondent ‘s good cognition was higher among them whose parent ‘s educational position was high. Good cognition was found higher ( 41.0 % ) among those respondents who had of all time known person diagnosed as CVDs. Those who had responded household friends/health works every bit chief beginning of wellness information had higher good cognition ( 43.9 % ) and it is statistically important ( p=0.004 ) at 5 per centum of significance degree. Attitude sing major hazard factors: Attitude of respondents sing the major hazard factors of CVDs were assessed through already pretested eight attitudes proving statements based on the Likert graduated table. Sing the statement â€Å" CVD is an old age job so I do n’t care † two 3rd ( 66.7 % ) of the respondents showed their strongly dissension followed by dissension ( 18.1 % ) . Sing the statement â€Å" CVD is either heredity job or non, I do n’t care † bulk ( 55.6 % ) of respondents showed their strongly dissension followed by dissension ( 22.9 % ) . Similarly, sing the statement â€Å" High BP is a minor job so no demand to worry about † 30.6 per centum of respondents showed their strongly dissension every bit good as dissension followed by understanding ( 21.5 % ) . Sing the statement â€Å" Majority of physically inactive people get CVD † 46.5 per centum of respondents showed their understanding followed by strongly understanding ( 25 % ) . Likewise, attitude sing the statement â€Å" Tobacco chewing/smoking cause CVD ; non certain † 35.4 per centum of respondents showed their strongly dissension followed by dissension ( 26.4 % ) . Si milarly, attitude sing the statement â€Å" Over weight: godown of diseases/CVD † more than half ( 52.1 % ) of respondents showed their understanding followed strongly understanding ( 26.4 % ) . Sing the statement â€Å" Fatty diet taking old people are still alive † more than one 3rd ( 34.7 % ) of respondents showed their dissension followed by strongly disagreement ( 29.2 % ) . Similarly, sing the statement â€Å" Consumption of inordinate intoxicant is to ask for CVD † 42.4 per centum of respondents showed their understanding followed by strongly understanding ( 41.7 % ) . Attitude rating sing CVD hazard factors Table 2 shows that the highest ( 47.9 % ) had the impersonal attitude followed by positive ( 31.9 % ) and 20.1 per centum had negative attitude. Table 2: Attitude rating sing CVD hazard factors ( N=144 ) Knowledge Grading Number ( n ) Percent ( % ) Negative ( lt ; 4 positive response ) Neutral ( 4-5 positive response ) Positive ( gt ; 5 positive response ) Entire 29 69 46 144 20.1 47.9 31.9 100.0 Knowledge versus attitude sing CVD hazard factors Table 3 shows that respondents holding hapless cognition had highest ( 54.5 % ) negative attitude whereas respondents holding just cognition had the highest impersonal ( 53.8 % ) attitude and those holding good cognition had the highest positive attitude toward the major hazard factors of CVDs and it is besides statistically important ( p= 0.002 ) at 5 per centum of significance degree. Table 3: Knowledge versus attitude sing CVD hazard factors Cognition Attitude sing CVD hazard factors Negative Impersonal Poor Carnival Good 6 ( 54.5 ) 17 ( 21.3 ) 6 ( 11.3 ) 4 ( 36.4 ) 43 ( 53.8 ) 22 ( 41.5 ) Discussion Findingss suggested that adolescent pupils lack overall cognition sing the major hazard factors of cardiovascular diseases and are consistent with the survey conducted among the pupils of classs ( 9-12 ) from four high schools of Michigan, USA in 2005.10 The figure of respondents who knew high blood force per unit area as hazard factor ( 86.1 % ) was lower ( over 91 % ) , baccy chewing/smoking ( 91.7 % ) was slight more ( over 90 % ) , physically inactive ( 59.7 % ) was lower ( over 72 % ) than reported by Richard Frost, MD, in an survey conducted in pupils of State University of New York at Plattsburgh in 2006. 11 The figure of respondents who had shown positive attitude sing the hazard factors such as physically inactive ( 71.5 % ) was lower ( over 88 % ) , baccy chewing/smoking ( 61.8 % ) was higher ( over 55 % ) , high fatso, oily/cholesterol diet ( 63.9 % ) was lower ( over 91 % ) than that of reported by Aysha Almas et Al. in an survey conducted in University pupils of Karanchi, Pakistan in 2005. 12 The findings of the survey show that boys possessed more â€Å" good cognition † than misss. This difference can partially be explained by the patriarchal society where gender favoritism is prevailing. Normally male childs have higher chance to have information as they are more open to the outer universe than that of misss. The findings of the survey stress the influence of socio demographic variables on the degree of cognition. Knowledge sing major hazard factors varied among different cultural groups. Respondents belonging to Newar ethnics had highest â€Å" good cognition † followed by Brahmin/Chhetri, Mangolian and others severally. This may be due to Newars are locals of capital metropolis and Brahmins/Chhetri are frontward advantageous group since antediluvian. In instance of parents educational position highest good cognition was observed in respondents holding their parent ‘s educational position higher. And the lowest cognition was observed in respondents holding their parent ‘s educational position as no formal instruction. Therefore it can be said that parent ‘s instruction has decidedly played some function in the respondents ‘ cognition. It may be because educated parents might hold taught their offspring about the healthful behaviours. Sing the chief beginning of wellness information good cognition was found highest ( 43.9 % ) among the human resource users followed by publishing media ( 30.7 % ) and electronic media ( 28.1 % ) . This might be due to easy handiness of fee suggestions in our society by people. Positive attitude among the respondents who preferred the printing media as chief beginning of wellness information was found higher. It might be due to in depth information that we can acquire from printed stuffs such as newspaper, books etc. Finding of Knowledge versus attitude cross tabular matter besides shows that those who had higher cognition possessed positive attitude and frailty versa. This might be due to the demand of cognition for the attitude formation. decision Consequences of the survey show that good cognition and positive attitude sing the major hazard factors of CVDs among the adolescent pupils of Kathmandu territory are unsatisfactory. And socio demographic factors for the development of good cognition and good cognition for the development of positive attitude dramas critical function. Due to the altering life manner of Nepali people these yearss, they are more susceptibleness to life manner related diseases like CVDs. Therefore to forestall CVDs, timely acceptance of healthful wonts are most and the really age group for this is the stripling. Adolescent centered activities that can raise cognition and develop positive attitude towards hazard factors so that healthful wonts can be formed are strongly recommended. recognition I would wish to show my sincere gratitude to the Department of Community Medicine and Family Health, Institute of Medicine for supplying me an chance to carry on this research work. I would besides wish to widen my profound gratitude to my research supervisor Associate Prof. Dr. Rajendra Raj Wagle for his nonstop counsel and punctilious redaction of faux pass. How to cite Major Risk Factors Of Cardiovascular Diseases Health And Social Care Essay, Essay examples

Early Roots of Policing Sir Robert Peels (1820s) Nine Principles and Their Connection to Modern Essay Example For Students

Early Roots of Policing: Sir Robert Peels (1820s) Nine Principles and Their Connection to Modern Essay Early roots of policing: Sir Robert Peel’s (1820s) nine principles and their connection to modern day policing Sir Robert Peel is known in the history books as the person who created the first form of an English police department, called the London Metropolitan Police. However, the first acknowledgement of any sort of police department or criminal justice system occurred 1000 years earlier by the English King Alfred the Great. King Alfred the Great came up with this idea when he was preparing himself for an invasion by the Danes. The King established a system of mutual pledge, which was a form of society control. This system allowed the citizens to come together to protect each other and at the same time created an organized and controlled atmosphere for a police system in England. Sir Peel based-his idea of creating the London Metropolitan Police department on the 1828 Colquhoun. By Sir Peel being a big influence on the Metropolitan Police Act, the bill passed in 1829. This established the largest incentive in London’s police force. Police departments in the United States have adopted Peel’s model. Sir Peel’s mission in creating his police force was to grasp a control on crime. Crime prevention reflected the utilitarian idea, which it is better to prevent crime than to respond after the fact. Sir Peel influenced by the military. He implemented the military’s organizational structure such as their uniforms, rank designations, and the authoritarian system of command and discipline. This same military approach is still one of the major assets currently embraced in today’s policing. Although Sir Peel is the founder to modern policing, he was not a police officer himself. Sir Peel guided the London’s police department with â€Å"Peel’s nine principles. The nine principles focuses on what Sir Peel core values of what a police officer should be. Sir Peel also introduced three elements, which became the basis for modern policing: mission statement, strategy, and organizational structure. Most police departments if not all have their core values stated within their mission statements. Sir Peel’s nine principles basically address t he following: crime prevention, public approval, physical force, and community policing. The first principle crime prevention addressed establishing a police presence and which he did. He called them â€Å"Bobbies,† an early version today’s modernized police officers. The main purpose was specifically to patrol the neighborhoods to decrease crime. Sir Peel stated â€Å"the basic mission for which the police exist is to prevent crime and disorder† (Dempsey Forst, 2008, 2005, p. 329). Principles two and three deal with seeking the public approval. Sir Peel stated that the â€Å"ability of the police to perform their duties is dependent upon public approval of police actions and they must secure the willing co-operation of the public in voluntary observance of the law to be able to secure and maintain the respect of the public† (Dempsey Forst, 2008, 2005, p. 29). According to (Hennigan, Maxson, Slonance, 2002) the United States Department of Justice Office of Justice Programs National Institute of Justice research shows that police can improve public opinion by increasing their informal contacts with citizens. According to a survey of Los Angeles residents’ opinions of police job performance and officers’ demeanor, poli ce can increase residents’ approval of their job performance by participating in community meetings, increasing officers’ visibility in neighborhoods, and talking with citizens. Four, five and six principles addresses the use of physical force. Sir Peel explains that the use of physical force should be only used when nothing else has worked to restore order. In today’s society excessive force has been a public concern and also difficulty in regaining the public’s trust. It is a given fact that most if not all crimes are solve by the help of the public and gaining the trust of the public takes time; one incident taken out content will jeopardize the public’s trust. By law, the police have the right to use force when it is necessary; however, the amount of force that should be applied is to this day questionable. Police officers are provided with adequate training within the police academy’s to use force and the publics trust and respect can ensure that force is only used to the extent necessary (Larrabee, 2007). However, incidents like the Sean Bell and the Rodney King case causes mistrust among the public and the police. Principles seven, eight, and nine address community policing; with the city’s population growing police departments also increased the patrolling areas from neighborhoods to being station at specific districts. The main focus was to bring a sense of community policing to local areas. Community-oriented policing is designed to take an approach toward crimes and addressing the underline causes of crime, which will allow police departments to apply their long-term problem solving to the issue through improved police-community partnerships and communication. Real Estate Purchase EssayMost crimes are solve by the help of the public, and gaining the trust of the public takes time; one incident taken out context will jeopardize the public’s trust. By law, the police have the right to use force when it is necessary; however, the amount of force that should be applied is to this day questionable. Police officers were provided with adequate training within the police academies to use force, and the publics trust and respect can ensure that force is only used to the extent necessary (Larrabee, 2007). However, incidents such as the Sean Bell and the Rodney King cases cause mistrust among the public and the police. Principles seven, eight, and nine address community policing; with the city’s population growing, police departments also increased the patrolling areas from neighborhoods to being stationed at specific districts. The main focus was to bring a sense of community policing to local areas. Community-oriented policing is designed to take an approach toward fighting crimes and addressing the major causes of crime, which will allow police departments to apply their long-term problem solving to the issue through improved police-community partnerships and communication. For example, programs such as community policing have been one of the main focuses in policing within the communities. Most police departments such as the Phoenix Police Department have community programs and community liaison units that perform specific tasks to ensure positive relationships between the community and the police department. The Phoenix Police Department community police programs consist of but not limited to G. R. E. A. T (Gang Resistance Education and Training) Regional Training, G. R. E. A. T. (Gang Resistance Education and Training) Local, D. A. R. E (Drugs Abuse Resistance Education), Silent Witness, Explorer Program, and G. A. I. N. (Getting Arizona Involved in Neighborhoods) (Phoenix Police Department,  2006). American policing has changed significantly throughout the last 30 to 300 years. American policing in the last 300 years was the foundation of constructing the modern police departments and officers; and in the last 100 years American policing has demonstrated the disorganization and corruption within the police departments and the political organizations. However, in the last 30 years American policing has shown vast improvements in personnel standards and system of accountability, including the values of due process and equal protection. Since, Sir Peel first introduction of his nine methods of policing in our country has implied his methods into our policing of today. Many researchers argue the method to social control can be provided through full-time presence of uniformed personnel in communities in hoping to establish a decrease in crime and disorder within the public. Others would argue that the birth of the model police departments is credit to Sir Robert Peel and without a doubt laid the framework for one of the most used creation to law enforcement to date (Williams,  2003). It is without a doubt that many mistakes have been made along the last 300 years; however, the policing system is much better and continuing to strive for excellence. Today, police officers goes through an intensive hiring process; the officers then we uneducated men with bad health and with criminal records. All police departments today consist of some type of hiring process (Hiring Process,  para. ). According to Dayton Police Department  (2010),   their intensive application process consists of the application, civil service exam, extensive background investigation, polygraph, police interview board, command staff review, civil service review, drug screen, medical, psychological testing and a physical fitness assessment to be appointed as a Police Recruit. Also p olice department also have some type strategy that has been put into place Peel’s nine principles that address: crime prevention, public approval, physical force, and community policing. It been a long journey from the time when Sir Peel has introduce his concept of policing and what it has been come today, I cannot wait to see what direction the policing systems will be in the next 30 years. Reference Page Dayton Police Department. (2010). Dayton Police Recruitment. Retrieved from http://www. joindaytonpd. com/recruit. htm Dempsey, J. S. Forst, L. S. (2008, 2005). An Introduction to Policing (4th Ed. ). Belmont, Ca: Thomson Wardworth Hennigan, K. , Maxson, C. , Slonane, D. (2002). Research for Practice. U. S. , 19(3), 565-587. Retrieved  from  http://www. ncjrs. gov/pdffiles1/nij/197925. df Larrabee, A. K. (2007, November  8). Law Enforcemnet: Sir Robert Peels concept of Community Policing in Todays Society. Associated Content. Retrieved from http://api. turnitin. com/newsreport Phoenix Police Department. (2006). City of Phoenix Official Website. Retrieved from http://phoenix. gov/police/compro1. html Williams, K. L. (2003). Peels Principles and their accept ance by American Police: Ending 175 Years of Reinvention. Police Journal, 76(2), 97-120. Retrieved  from  http://search. ebscohost. com. ezproxy. apollolibrary. com/login. aspx? direct=true=tsh=24632398=ehost-live