Spanish American War Timeline
The timeline of Spanish American war is one that covers key events that lead to a 10 week conflict between the USA and Spain in 1898. This timeline illustrates the drifting relationship between the Spanish and US that ended in Spanish American War.
|1800||After long discussions with Cubans residing in the US, Jose Marti in 1892, 10th April co-founded Cuban Revolutionary party. The purpose of the party was winning independence for the Cubans. It was a response to nearly fifteen years of economic expansion, growth of trade, diminishing trade with Spain and great dissatisfaction with the injustices of socio-economic and peninsular Caste system.|
|1801||The Spanish policy is reversed by France opening the Mississippi River.|
|1803||Napoleon accepted fifteen million dollars from President Jefferson. This was for Louisiana territory while Spain retained suspicions about the plans the US had on its territory.|
|1805||A secret delegation is sent by president Jefferson to Cuba for purposes of negotiating with Spain to purchase Cuba. Jefferson does this because of his belief that the location of Cuba is a strategic one capable of protecting the interests of the US since Cuba recognized slavery.|
|1894||The Wilson-Gorman Tariff Act was enacted by the US Congress and it imposed high tariffs on sugar. There was also Spanish tariff suspensions on American goods leading to fears the US would retaliate not only against Cuba but other colonies that belonged to the Spanish through increasing tariffs on sugar. Such events would devastate the economy of the island and producers of Cuban sugar would unite in order to get the tariffs lowered.|
There are two major events that took place:
|1896||ü On 10th February, after losing a section of the eastern Cuba part to revolutionaries and witnessing outbreak insurrection in Western provinces Cuban governor Arsenio Martinez-Campos y Anton is replaced and Weyler, First Rubi Duke. Weyler begun a re-concentration in which people held in rebel regions were rounded up then put into concentration camps. Weyler also brought in over two hundred thousand Army troops and also organized fifty thousand Cubans and peninsulars into a militia that was pro-Spanish.
ü In November, William Jennings Bryan was defeated by William McKinley becoming the US president.
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Effects of an Expansionary Monetary Policy
The role of an expansionary monetary policy is that of increasing economic growth and commonly lessening unemployment and the increase in prices. The policy can be implemented in varying ways some of which are as highlighted below.
- The central bank can implement this policy by buying government bonds in an open market.
- The policy can also be enacted by increasing discount window lending amount
- Finally, it can be enacted by decreasing reserve requirement
The effects of this policy are varied and while this is the case the most common ones include the following:
The money injected into an economy when conducting market operations is used by consumers or alternatively used by businesses for purposes of hiring new workers or creating growth. This policy comes with low interest rates which make it affordable for consumers to purchase houses, cars and other items. What is more, it also leads to expansion of businesses. Low reserve requirements also make it possible for banks to issue more loans and this increases credit supply and lowers interest rates charged by banks.
This policy has the tendency to increase the prices of real estate and stock as well. Apart from increasing stocks demand through creation of additional money, reduction of bond prices accompanying this policy increases the attractiveness of bonds. Because of the low interest rates, consumers find it easier to buy new houses increasing real estate value. Most households have their wealth either in stocks or real estate which means an increase in the value of these two creates more wealth for households.
Whenever the interest rate in one country falls compared to that of other countries, the country with the best monetary policy experienced a fall in currency. When a nation’s currency decreases its value, exports become cheaper while the imports price increases consequently, boosting the economy of that nation further.
Though this policy is great for an economy that is depressed, it can also cause inflation or rise in prices especially in an economy that is close or at full capacity. This is attributed to the fact the increased money outstrips productivity capacity of that economy. This happens because often, there is a lag during the process of implementing the policy hence the impact is not felt immediately. Therefore, the Central Bank is supposed to judge accurately, not the current performance of the economy but rather, how it will be at some point in the future.
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Contractionary Monetary Policy
Contractionary monetary policy is defined as macroeconomic tool that is used by the central bank of a country or its finance ministry for purposes of slowing down the economy. This kind of policy is enacted by a government with the aim of reducing the supply of money and ultimately, spending within a country. There are a couple of ways through which this is done and they include the following:
- Increased interest rates
- Increased reserve requirements
- Reduced money supply either indirectly or directly
The policy is used during growth periods of business cycle that are high but he effect is not immediate. Therefore, this means the purpose of the policy is emphasizing on reduction of money supply for less investment and spending thereafter slowing the economy down. The idea is making sure people spend less by making the prospect cost of holding cash high. The policy’s effectiveness varied in accordance to investment and spending patterns in the economy.
The major purpose of this policy is slowing down inflation which accompanies a flourishing economy. The government will apply different techniques to accomplish this and they include, slowing government spending. The interest rates can also be raised making it more costly to borrow money. Inflation is slowed by reigning economic growth and this aids cool the markets off and also decreases overall demand which means the prices also go down.
Inflation leads to ever rising prices and this eventually negatively impact the spending power of the consumer. The fluctuation of prices can leave the consumers erratic and nervous in regard to spending patterns. This policy aids stabilize prices as inflation slows increasing consumer confidence and keeping the economy even while encouraging spending patterns that are stable.
A contractionary monetary policy slows down production. This is a by-product of the country’s economic engine slowing down. The major culprits in this case include r3educed product and service demand as well as costly investment capital. Once production is geared down by companies, it often takes years before it is ramped again. If this policy exceeds the mark and tightens a country’s economy relentlessly than intended, companies slow down production and this in turn shutters plans for expansions. Consequently, this throws the economy into a recession loop.
Contractionary monetary policy can also cause increased rate of unemployment because as companies slow down their growth rate, they are forced to hire less employees. Increased cases of unemployment cost the government increased insurance admin costs as well as social service expenses. Therefore, governments are supposed to weigh the cost of this against economic benefits associated with inflation reduction. High rates of unemployment can reduce consumer confidence as well.
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Fixed Exchange Rate
Fixed exchange rate is at timed known as pegged exchange rate and it’s a kind of regime where the value of the currency is fixed against the currency of another country to another value measure like gold. This kind of currency is used for purposes of stabilizing the value of one currency against the one it is pegged to. This in turn makes investments and trade easier and predictable between two currencies. This is especially of great use to smaller economies whose external trade contributed to the gross domestic product.
What is more, it is also used as the most suitable means for controlling inflation. While this is the case, while the reference value increases and goes down, the currency that is pegged to it is also affected. Fixed exchange rate was common during the twentieth century. Governments favored such systems because they believed it came with key advantages such as lowering speculative capital flow risks, introducing great discipline on local policies to get rid of inflation and removing exchange risk while promoting international trade.
Other benefits associated with fixed exchange rate are as highlighted below:
- Speculative capital flow-In a system with a fixed exchange rate, high inflation within a country makes buyers who are overseas pay high prices for the exports of that country. It additionally makes the import sector of that country less competitive. This means that as the imports are strengthened, the exports are weakened.
- No risk associated with exchange rate-Fixed exchange rate gets rid of the risk associated with changes in exchange rate. It was assumed absence of such risk would be beneficial to capital flow and international trade.
- Lack of automatic adjustment to payment of disequilibrium balance-This kind of rate doesn’t automatically correct balance of payment. The government is forced to make corrections in such cases by increase the interest rate and reducing domestic demand. Consequently, this restrains the economic policies at a domestic level from focus on inflation and unemployment.
Other advantages associated with fixed exchange rate include inherent instability and the prerequisite for foreign exchange reserves that are large. In a system where the fixed exchange rate is used, the government of the given country makes the decision regarding its currency’s worth in relation to either the fixed amount of another country’s currency, fixed gold weight. Typically, the market mechanism used is an open one in which case the central bank of that country makes provision of foreign currency that is required for payment imbalance financing.
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Disadvantages of Uncodified Constitution
Constitutions are supposed to legally codify the responsibilities of a government to its people. They also highlight the rights of the people that must be respected by the government. A constitution is supposed to be a legally written document though there are instances when this is not the case. If this is the case, then it is known as an uncodified constitution. Though there are advantages to an uncodified constitution, there are also disadvantages such as no limitations on legislative bodies, unclear guidelines on devolution and division of government power.
Some of these disadvantages include the following:
The argument on the advantages of uncodified constitution is flexibility. Uncodified constitutions evolve with the society as the society changes over time. This flexibility is detrimental though since it creates room for devolution as is the case in the UK. Where there once existed a national assembly that was represented by all United Kingdom member states, a series of Acts towards the end of the twentieth century led to creation of state assemblies for Wales, Ireland and Scotland. Therefore, this kind of constitution is unable to check political movements that could destroy national unity.
Unclear power division
Codified constitutions are known to define and establish powers of every government branch. This means law enforcing, law making and government body powers afford individual government branches limited power such that none of the branches dominate the rest. Uncodified constitution on the other hand does not have any limitations hence government branches enjoy uncontrolled growth and power. There is also a recent trend growth of law enforcing or judicial government branches that leads to policy making. It is because of this fact that codified constitutions are largely advocated.
Legislation that is unlimited
The legislative government branch has the power to define and make laws which govern intricate workings in a society. Countries that have codified constitutions limit the power enjoyed by this branch ensuring the laws made aren’t harmful to the society. Uncodified constitution does not make such provisions that inhibit creation of laws that might increase inequality in a country, offer the wealthy protection or even limit the rights of the disadvantaged. Because an uncodified constitution is unlimited, this also means it might levy tax amounts that are inappropriate or even send its soldiers to war devoid of support from the people.
Creation of controversy
The greatest disadvantage though associated with uncodified constitution is controversy creation. Because there are no clear cut laws written down, misunderstandings might arise about the customs and use of the constitution provisions.
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Role of Industrial Sector in Indian Economy
Most nations depend on industrial development for economic growth. In the Indian economy, the industrial sector is especially important since without industries, development would not be possible. The country has different sectors feeding off each other that ensure the industrial sector is balanced.
Industries that contribute to India’s economy
There are several industries that contribute to the Indian economy and they include the steel industry, airlines industry, biotechnology industry, real estate, steel, tourism, and medical, hardware and electronics energy sector and textile industry. Apart from these industries there are others contributors that are just as important to the Indian economy.
Fertilizer industry for instance contributes more than 20% to the gross domestic product while the biotechnology industry has a promising future. The real estate industry in the country has also witnessed a large boom in recent years.
Role played by the industrial sector
- Speedy income growth-The industrial sector provides a base for income growth. The industries depend on-The industrial sector provides a base for income growth. The industries depend on manpower and India has great manpower. The country enjoys per capita income that is high because of industries.
- Employment-While India is known as an agrarian economy, agriculture does not offer employment. The industrial sector in the country solves this problem by ensuring the population enjoys employment opportunities.
- Foreign exchange-The country does not have the capability to earn enough foreign exchange from exports of primary products. Industrial exports contribute to the economy once added to primary products.
- Agricultural development-It is through the industries that the agricultural requirements in India are met. Agriculture needs farm machinery that is improved, pesticides and fertilizers. In addition to this, it also needs transport and storage facilities and all these are provided adequately by the industrial sector.
- Sustained growth-Rapid development of industries in India aid in promoting communication, transport as well as agriculture. Additionally, it also makes it possible to produce consumer goods in huge quantities and at prices that are low. What is more, it also eliminates overdependence on other countries.
- Balanced development-With agriculture alone, Indian economy would be unbalanced. However with the industrial sector, the disparity is solved. The industrial sector is the energy the Indian economy needs to continue expanding.
The GDP of India requires contribution from its major industries for it to be a success. Based on the manner GDP is calculated, it is clear that the industrial sector is of great importance to the country. In regard to United States Dollar exchange rate, the economy in India is ranked as the 12th largest. Despite the global recession that has been witnessed globally, the economy in India has great potential for growth because of its industrial sector.
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Importance of Competitor Analysis
In any business operation strategy, it is wise to keep into account the strategies of the company’s competitors. Strategic management is all about being able to gain and maintain competitive advantage over any other company. Competitive analysis is an exceptional process of analytically comparing a company, products and services against the substantial competitors within an industry.
Through competitive analysis, it becomes easy to establish a company’s goals, tactics and strategies that will make it stand out among competitors. There are notable elements that make up a competitive analysis. Firstly, you have to define the core competitors. Some companies will offer products and services that similar to what you entirely offer while others will only dispense one or two of your core products and services. Secondly, analyze competitor’s strengths and weaknesses.
To enjoy a great competitive advantage in the market, look at the reasons behind the success of a company and areas that it has failed. Thirdly, analyze the main customer’s needs and requirements. Learning about the central wants of clients in an imperative part of competitive analysis. This makes customers’ priorities company’s main concerns. At last, an entrepreneur should build a strategic plan to improve the position of the company.
These strategic plans should cover areas of business operation from production, distribution, pricing to marketing of goods and services. With the key elements that make up a competitive analysis in mind, it is a brilliant idea to look at the key reasons as to why competition analysis is an important tool. Here are the core benefits of conducting a competitive analysis;
- It makes it easy to develop matrixes for ascertaining unserved and underserved gaps in the competitive markets. It reveals more on where a company fits in terms of prices, quality and customization.
- Provides a strategy to undertake towards product development. With great technology, direct competitors are able to engage in a persistent rivalry to develop new products and gain advantage by also learning what their probable competitors are offering. It also becomes easy to know what main competitors are up to or improving for future release.
- Offers a better way to understand the market trends and gain a competitive edge over any other company. Coming up with a new business idea offers a better way lure a number of loyal clients and build a new market. Customers will also be attracted to new business ideas.
- Todays, make is all about placing a lot of energy on benefits and value rather than selling products and services. Competitive analysis reveals more on what customers think they are buying than what they may be really buying. Hence, for an entrepreneur it becomes easy to know what clients thing of competitors brands.
It is not easy to stand out in an overcrowded marketplace. Success in a given market is all about good timing and following the best strategies. An improved ability to predict your competitors’ behaviors and influence offers a better way to know how to move your company to another competitive level. Do not just get on with your business plans and ignore competition. It is a great strategy to analysis competition, but do not get obsessed.
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Defining Important Socio Economic Factors Affecting Businesses Today
Socio economic factors are important characteristics which mostly influence consumers. These factors are associated with the quality of life and determine the behaviors, tastes, preferences, attitudes and lifestyles of people living within a society.
Socio economic factors have a high impact on businesses, whether big or small. This is because the consumers are often at the heart of businesses and tend to affect growth of all ventures. There are many socio economic factors that business persons need to look out for in order to excel and compete effectively in an ever changing market.
Income capacity of consumers determines how much they can spend on certain products. If citizens in a country have access to high incomes from employment and personal business ventures, then they are more likely to spend on luxurious products. This is because they can easily afford the products and also have a taste for good things. On the other hand, low income earners may not be able to afford basic commodities, let alone the luxurious products. The struggle to meet their basic needs may blind these consumers from purchasing luxurious products.
It is thus essential for a business person to consider the income capacities of the consumers before setting up the business. This factor should affect where the entrepreneur sets up shop and the target clients he chooses. For high end products, an entrepreneur should look for a shop in an up market area with access to high income earners. For basic commodities, an entrepreneur should look for cheap suppliers and set up shop near the low income earners.
The occupation of consumers is largely related to the income they earn. Low skilled laborers who work in menial jobs cannot earn the same as corporate managers. The differences in occupations more often than not determine the income gaps of the consumers.
As an entrepreneur you must carry out research on the occupations of your consumers. This should influence your decision to venture into certain businesses with a specific target at consumers who have good occupations or lowly jobs.
Education levels influence the type of occupation a person can get and ultimately their income level. Consumers with higher education tend to be skilled and also have better jobs and incomes as compared to those without education. Education is determined by the opportunities presented to the consumers and can influence how much a consumer can afford.
In addition to this, the educated consumers have different tastes for products as compared to the uneducated ones. The educated consumers are not only more conscious about the contents of products but may also come off as demanding as compared to the less educated ones. An entrepreneur may have to work harder to fulfill the demands of these consumers as compared to when dealing with less educated folk who are less demanding.
Economic growth and development of a country can also have an impact on the social status of its citizens. Emerging economies such as China and India have proved that if a country experiences high economic growth then the citizens may have better access to incomes and also the middle class and upper class may grow. This may also attract more investors into the country and increase employment rates. Inevitably positive economic growth rates will increase spending and help businesses to grow.
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Transition economies refer to economies which are changing from a centrally planned economy to one of market economy. Since communism collapse in the late 1980s countries of former Soviet Union as well as all satellite states such as Hungary, Bulgaria and Poland sought to embrace capitalism and they abandoned central planning.
Transition economies often undergo structural transformations which are intended to assist in the development of institutions that are market based. Some of these include economic liberation where market forces are used to set prices rather than by central planning organizations.
Trade barriers are also removed in transition economies as there is a push to:
- Privatize resources and enterprises that are privately owned
- Restructure collectively and state run enterprises as businesses
- Create a financial sector to facilitate macroeconomic stabilization as well as movement of private capital.
Transition economies have been applied in China, Eastern bloc countries of Europe, some Third World countries, and former Soviet Union. There is also detailed work which has been undertaken on the social and economic effects of such transition.
Transition is often characterized by change and creation of institutions especially private enterprises, change in state role which fundamentally create different government institutions and promote enterprises that are privately owned.
Main ingredients needed in transition economies include the following:
- Institutional and legal reforms-There should be a redefining of state role in such economies in order to establish rule of law and also introduce appropriate competition policies.
- Privatization and restructuring- Creation of a financial sector that is viable and reforming enterprises that already exist in the economies undergoing a transition in order to render them capable of production of goods that can be sold in free markets. This also aids in transferring ownership into private hands.
- Liberalization-Transition process allows most of the prices to be established in free markets and lowers trade barriers that shut off contacts
- Macroeconomic stabilization- Brings inflation under control and lowers it over certain duration especially after the initial burst of inflation which is followed by liberalization and pent up demand.
There are certain problems which arise as a result of transition economies and some of these include increasing unemployment, rising inflation, lack of infrastructure, corruption, lack of entrepreneurship, moral hazards, inequality and lack of sophisticated legal systems. It is ideal to note that most of the transition economies often face severe short term difficulties as well as long term constraints especially on development.
There are different transition processes that are characterized by creating and changing of institutions especially private enterprises. Because of the different initial conditions that need to be followed during the emerging transition process, it has to be planned and different countries use varying transition models.
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Advantages and Disadvantages of Sustainable Energy
Today, there is an on-going advocacy for people around the world to begin embracing sustainable energy sources. The sustainable energy sources include solar, wind, geothermal, wave and tidal. Through all the sources, electricity or energy can be generated for use in various equipment and procedures. However, it is very important that you get to know the advantages and disadvantages of sustainable energy sources before making a decision to also focus your energy concerns on them.
One of the greatest advantages of sustainable energy sources is that they can never run out supply. These energy sources like the sun or even wind have been in existence for thousands of years and no one can even tell when they will be extinct. There are here to stay and will continue to provide energy for thousands of years to come. As a result of this, sustainable energy is one that we can depend on to fulfill our electricity needs for today, tomorrow and the years to come. As a result of this, it can be said that sustainable energy has massive benefits to the economy since it will not require any greater savings in order to continue enjoying the use of renewable energy. A little maintenance is the only thing that will be required; however, this does not cost much.
Another advantage that is even making the world to intensively advocate for the use of sustainable energy sources is because they are harmless to the environment. Compared to fossil fuels, sustainable energy has got no harmful impact on the environment even if used for decades.
Another benefit of sustainable energy is that it creates energy independence that is not common with other energy sources like oil or other fossil fuels. The reason for this is because most of the sources of sustainable energy like wind and solar do not belong to anyone. In fact, there is not even a particular country or group of nations that can claim ownership of such kinds of energy sources. However, countries where there are sources of geothermal and hydroelectric power may claim ownership over the areas where the plants exist. But as for wind and solar, they can be used by anyone at any time that they have the need and in any amount that they want.
Despite the numerous benefits of sustainable energy sources, it should be noted that there are also a few disadvantages that you may need to take note of. The main disadvantage that is associated with sustainable energy is that initiating facilities or making installations for the harvesting of the energy may at times be expensive. However, this is no cause for alarm since several governments have today introduced subsidies to ensure that the solar panels and other equipment for harvesting green energy are offered at reduced prices. Besides, there are even grants that are being offered to ensure that people are not burdened when it comes to starting up projects for sustainable energy.
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Raj Rajaratnam Insider Trading At Galleon Group
Insider trading is an issue that has been quite rampant in the current business market. Crackdowns to pick out those involved in breaking business ethics have been helpful. The case of Raj Rajaratnam is one of the widely acknowledged incidences to date. Raj was found guilty of all 14 counts against him in the widely known case of illegal stock-tipping.
Raj Rajaratnam is a Sri Lankan American billionaire founder of the Galleon Group a hedge fund management firm. On October 16th 2009, Raj was arrested by the FBI on allegations of insider trading- a process of trading a public company’s stock or securities by an individual who has access to private information about a certain company. His actions led to the closure of the Galleon Group. On May 11, 2011 he was found guilty on all 14 counts of securities fraud and conspiracy.
The trial cases as a result of rampant crackdown on insider traders who were ruling the Wall Street, a promise made by Manhattan U.S attorney Preet Bharara. Prior to his arrest Raj Rajaratnam had claimed that Galleon analyst had an advantage over its competitors because most were trained as engineers and only focused on research. Adam smith, a former Galleon trader gave evidence at the Raj’s trial stating that the new York-based hedge fund grew its advantage through other means.
Raja emphasized that he was learning of revenue figures before they became public. Intel Corp. [INTC], Intersil Corp. and other publicly traded companies were some of the insiders and attested to the information provided by Adam Smith. In his testimony Smith stated that, research was sort of conducting homework ahead of time. He pleaded guilty of insider trading and agreed to cooperate with prosecutors. He further added that, getting the number was just more than cheating on the test presented.
The Raj Rajaratnam case was exclusive in the sense that, the prosecutors wiretapped their targets conversations through the phone a tactic used in crime investigations. 40 recordings of Raj were heard by the jurors and in some of the recordings he was heard gathering secrets from his confidential sources.
One of his sources revealed that, Akamai Technologies Inc. was going to lower its forecast. Raj Rajaratnam used inside information obtained from his sources to trade ahead of any public announcements that were to be made on forecasts, earnings, mergers or any spinoffs involving dozens of companies.
Rajat Gupta, the director at Goldman Sachs, and Kamal Ahmed, a Morgan Stanley banker passed tips to Raj through Adam Smith. The CEO of Goldman Sachs Lloyd Blankfein said that Gupta violated the company’s confidentiality by telling Rajarantnam about the company’s earnings and its strategic plans.
This was the most widespread and paramount case in US in the fight against insider trading. The case led to arrest of more business personnel who have violated the insider trading rules and ethics. For the prosecutors, it did or does not matter whether you are a paramount figure in the society or not. All arrests made have been handled appropriately to set a good example in the country and in the business sector.
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Schizotypal Personality Disorder
Schizotypal personality disorder is best described as a personality disorder that is characterized by the need or desire for social isolation, odd thinking or behavior, unconventional beliefs and anxiety when exposed in social situations.
People with this disorder experience extreme discomfort when it comes to maintenance of close relationships as such they don’t form such relationships. In addition to this, they also display manners of dressing and talking that are peculiar and have a hard time forming relationships. In other cases, they will act oddly during conversations or not respond at all.
Frequently, they will misinterpret situations as strange or believe they have an unusual meaning. With such people, superstitious and paranormal beliefs are common. In most cases, individuals with this disorder end up seeking treatment for depression or anxiety thus overlooking the real problem which is personality disorder.
Individuals with schizotypal disorder will often display the following symptoms:
- Odd fantasies, beliefs or behavior
- Eccentric behavior and appearance
- Difficulty following conversations and odd speech
- Perceptual experiences that are unusual
- They will have few close friends or none
- Paranoia and suspicion
Majority of those with this disorder tend to join cults because they want to feel like they belong.
The cause of schizotypal disorder is not yet known. While this is the case, research indicates that those individuals with the disorder come from families with relatives who are schizophrenics. In order to diagnose the disorder early, family history awareness is important. Personality disorders often have enduring and long standing patterns of behavior as such, they are diagnosed in adulthood.
It is not easy for this disorder to be diagnosed in adolescence or childhood because then, the teen or child is going through constant development, maturation and personality changes. Like most other personality disorders, the intensity of schizotypal personality disorder decreases with age with those in their 40’s or 50’s showcasing extreme symptoms. Genetic, social and environmental factors are also known to play a major role in causing schizotypal personality disorder.
Schizotypal disorder is diagnosed by mental health professionals who are trained like psychiatrists or psychologists. General practitioners and family physicians are not well equipped or trained to diagnose this type of disorder.
Majority of people with schizotypal disorder often don’t seek treatment until it begins to impact or interfere with their life.
Treatment of schizotypal disorder involves long term psychotherapy. This should be done by therapists with experience treating this type of personality disorder. There are also medications that might be prescribed in order to assist with specific debilitating and troubling symptoms.
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Low Ball Technique vs Foot in the Door Technique
Many experts have always tried to compare low ball technique vs. foot in the door technique. In low ball technique, a sales person offers potential buyer a lower price than the actual price intended for selling the item. Afterwards, the price is increased to obtain more profit. Once a buyer start enjoying a deal prospect and future benefits of the item, they are not likely to back out on the deal since this would cause cognitive dissonance. Thus, the buyer ends up down playing negative effects of the extra cost of the item.
Foot in the door technique is a common compliance tactic. This tactic entails having a person accept a large request by setting them up with a modest request first. Simply put, you make a small request and then once it has been accepted, you make a bigger request.
The foot in the door technique is highly successful due to the basic nature of human known as successive approximations. In essence, when a subject goes with small commitments or requests it is likely to continue in the desired attitude’s direction or cause the desired behavioral change which results in the feeling of obligation to go along with the larger requests. The foot in the door technique works by achieving a small yes first and then a bigger yes later.
Low ball technique and foot in the door technique enables a requester to increase the chances of the subjects agreeing to accomplish given requests without external pressures. In foot in the door technique, subjects are led to performing the first low-cost request before they are asked to perform a target request. In low ball technique, subjects are led to accept to perform a target behavior when they do not know the exact cost of their behavior. The full cost of the behavior is reveled to the subjects after accepting the initial cost.
Both low ball technique and foot in the door technique are based on a similar principle. This principle is that of committing the subject into performing the target behavior by first having them accept the initial request or behavior that is less or even more linked to a target behavior or request.
However, foot in the door technique and low ball techniques have slight variation. In low ball technique, the subject is requested to perform a single behavior (initial and final requests pertain to a target behavior) while in foot in the door technique a subject is requested to perform two behaviors (initial and final behavior pertain to different behaviors).
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Dependent Personality Disorder
Dependent Personality disorder is a mental health condition that is characterized by the tendency of people to depend on others for their physical and emotional needs. It is one of the most common types of personality disorders that most people are diagnosed with today. It is prevalent in both men and women. This condition makes the patient to be submissive and viewed to be more of ‘clingy’ to the person (s) whom they are dependent on. In such a case, the person suffering from the condition feels that he or she cannot live without the help of the other people.
Symptoms of Dependent Personality Disorder
People who suffer from Dependent personality disorder cling to other for emotional support and as a result often try to please them in many ways just to keep enjoying the support. Such people always fear separation and cannot imagine their lives without others. Below are the symptoms that can tell if one is suffering from this condition:
- Inability to make decision including even everyday decisions on what to put on without getting advice or reassurance from other people.
- Avoidance of responsibilities for adults under the pretence of being helpless or passive
- Intense fear of being abandoned and a sense of helplessness whenever relationships come to an end. The patient will often move into another relationship immediately one ends.
- Oversensitivity to criticism
- Fear of disagreements with others on grounds that he or she may lose approval or support
- Willingness to tolerate mistreatment and abuse from other people provided that the relationship does not end
- Placing the needs of those whom he depends on above his
- Inability to begin projects or take initiatives personally due to lack of confidence
People who suffer from Dependent personality disorder often want to feel so naïve and spend most of their times fantasizing. Most lack self confidence such that they believe that they cannot take care of themselves.
Causes of Dependent Personality disorder
The exact cause of Dependent personality disorder is not known. However, it is believed to stem from developmental and biological factors. Certain researchers have revealed that overprotective or authoritarian style of parenting can cause the development of the personality disorder.
Diagnosis and Treatment
The diagnosis of Dependent personality disorder requires a professional mental health practitioner like a psychiatrist or psychologist. The process involves an evaluation of the psychiatric and medical history of the patient. It must be noted the diagnosis process for this personality disorder does not involve any form of laboratory test. However, the doctor may apply a variety of other diagnostic tests like interviews and assessments in order to study the symptoms and determine if the patient is truly suffering from the condition.
Just like in the case with other personality disorders, a person who has been diagnosed with Dependent personality disorder is placed under psychotherapies over a given duration of time.
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Importance of Strategic Management in Healthcare
Strategic management entails the coming up with a mission and vision for an organization. It deals with the strategic planning of activities and initiatives so that they are in line with the goals and objectives of the organisation. Strategic management largely involves the understanding of the cultural, political and demographic changes that affect the functions of a given organisation. These changes are both those experienced locally as internationally that affect the organisation in the long run.
Organisations that are in the healthcare business like any other organisation need strategic management. This is because, regardless of the kind of initiatives a given organisation does, they must have a mission, vision, goals and objectives. Without clearly stating these factors, the organisation may find itself being irrelevant. Lack of or poor planning of an organisation that deals with healthcare will cause the organisation to become ineffective in its product and service delivery.
In the healthcare sector, strategic planning entails coming up with long term and short term initiatives that are aimed at meeting the organisations’ goals and objectives. These functions are usually privy to the executive members of an organisation.
In a sense, healthcare facilities are also businesses. They are in the business of helping people but not for free. Although they may be rather unique, the hospital still faces challenges like any other business. They also have a market to grab a share of. For high end health facilities have defined a certain niche to whom they have designed their products and services. to achieve their desired end, they must apply strategic management techniques in their plans.
Carrying out strategic management in the healthcare sector is important because the management will ask themselves the three critical questions that every business must think of including:
Where are we?
In order to solve any problem in a business one has to understand it in its totality. In hindsight, every health organisation must analyse their present situation by considering their plans and achievements in the past that has go them to where they are. At this stage the company has to consider their strengths and weaknesses.
Where do we want to go?
Secondly, every organisation must have a vision. Without a desired destination, how will you even know when you get there? It is important for the management to paint a clear picture so that the employees can understand that what they are working towards. Have major long-term goals and then break it down to short term goals that are time bound. This way, you will be able to easily monitor and evaluate your progress according to the time frame you have set aside to achieve every single one of them.
How will we get there?
Come up with clear initiatives and activities that will user you to your desired goal. You must have very clearly laid out plans.