Research Korner: Australian Essay Samples

Is the Australian Share market efficient? Discuss with reference to peer reviewed academic literature on weak form, semi strong form and strong form market efficiency

OBJECTIVES As a person with knowledge of the Australian share market, the author has always brought up to his superiors the viability of strategy formation regarding the analysis of this topic and at times fails to understand the reasons or logic behind certain strategic implementations imposed on it. By delving into this project paper, the author intends to have better insights into how the Australian share market is thought up, formulated and then operated. The author hopes to have an in-depth understanding as to how the efficiency of the Australian share market enables the country and its economy to compete effectively and profitably in this era of internationalization where competition is extremely intense. In order to reinforce the learning objectives, two key focal issues were focused upon, i.e. innovation and diversity. Innovation was discussed with regard to the Australian share market where it was renowned for its developmental capabilities to constantly innovate. Diversity came under strategic thinking and formation as the author considered the diverse culture, political climate, economic surroundings, social environment, technological settings, government policies and legal systems in order to better understand the issues being discussed.     EXECUTIVE BRIEF This essay utilized the Australian share market to review its present operations and how it dealt with critical situations. From the analysis, key trends in the Australian share market were then identified, how it worked and its effectiveness in dealing with critical situations was ascertained. The paper then moved on to assess the Australian share market with regard to its suitability to critical situations, during which the internal capabilities of the Australian share market in relation to its strategy being followed was determined also. An overall analysis of the performance and effectiveness of Australian share market was also conducted to assess and compare its capabilities with those of others. Gaps in the capabilities and economic environment of Australian share market were then identified. Finally, several choices of strategies to improve the efficiency of Australian share market as effective means in critical situations were recommended and evaluated in terms of appropriateness to the issues reviewed, feasibility in carrying out the options and acceptability within the key stakeholders and decision makers. Several key implementation issues related to managing strategic change were also addressed as well.         OVERVIEW OF THE AUSTRALIAN SHARE MARKET The Australian share market is one of the most commonly explored areas by Australian companies to invest their money and gain substantial profit in the long run. Because of the existence of the Australian share market, the Australian businesses are able to expand in lieu of the huge capital they are able to obtain through active participation in the market. Also, the liquidity that the Australian share market has is attractive enough to encourage national and international investors to also participate and sell securities. The existence of the Australian share market emphasizes the price of shares as an integral part of its economic activity. The increase in the share prices of the Australian share market, for example, is always related to the symmetrical increase in the economic activities. The share prices in the Australian share market also have a direct influence in the financial resources of Australian families as well as their buying powers as consumers. As a result, the Central Bank of Australia acts as a monitoring and evaluation arm of the Australian economy in the sense that it has the ability to control the Australian share market and facilitate the proper functioning of its systems. The occurrences of exchanges are also a familiar scenario in the Australian share market. This gives a mode of security to investors in the Australian share market that they can immediately receive their payment upon selling stocks. The consistent efficient operations the Australian share market boosts the overall economic development of Australia because of the fact that the Australian share market is able to facilitate the manufacturing of goods and services as well as give substantial sources of employment. Is the Australian Share market efficient? The Australian share market’s abolition of fixed commission of brokers and allowing trading companies to have their own dealers in the market ( 1999) could lessen the incentive for them to study the markets.  Controlling opportunistic behavior and its accompanying adverse impacts, brokers’ motivation tool, through commissions to perform better to find a company that really needs capital or one that really has surplus of it, diminished.  The abolishment could hinder efforts to seek markets in a broader spectrum, as their transaction costs like communication and travel costs cannot be redeemed, that in effect will limit the flow of capital in the stock market.  Commission serves as their starting point to get involve in a vast, and now international, market.  The option to work in a company as personal broker could also impede their opportunity to drift to a larger and complex market.  The limitation of the search is attached to the needs of one company to sell or buy securities, so, transaction tends to be stimulated unidirectional.             The separation of large and small issuers of securities made it easy for the Australian share market to distinguish the needy in relative matters.  If an inexperienced investor has a surplus or savings in a relatively smaller amount, it can be assumed that he values this amount.  To prevent transaction costs like accountant or analyst fees, he can simply invest as the companies there is easier to evaluate in terms of future prospects.  Unlike large companies whose operations are more complex and vast, this type of investor that would invest here would demonstrate huge risks because of ambiguity.  The distinction transforms new and inexperienced investors to be efficient capital providers.              The information services of the Australian share market and their media relations department have the capability to transmit trade data happening in the electronic platforms and trade floors via electronic devices.  The advantages of technology in operations of the stock exchange enhance motivation from investors to join the trade due to absence of expensive transaction costs like transportation and time.  This is significant to wealthy people who are usually characterized by old age and traveling from a distance can disincentive them to invest.  However, this type of investors can be caught to false hopes and loose money because of too much reliance to stock prices undermining the background of the firm they extended their investment.  The capital should go to those companies who are capable to use them in a profitable manner.  In return, they can bear fruits for their investors.  This cycle if uphold can accelerate economic activity.                The business mindedness            of Board of Directors of the Australian share market could emphasize the importance of profiting rather that of economic equilibrium. Most of them have private enterprise backgrounds, including the Chairman, which can undermine the government’s role in neutralizing business activities rather limited to profit-driven decisions and strategies.  They have marketing arm to allure international investors and capital seekers to get involve in the local trade.  In the lens of national interest, there are two implications; namely, capital will flow to finance local businesses and capital will get out of the borders.  The oblique intervention of the government in the Australian share market activities could result to unequal distribution of capital that could adversely affect the local investment seekers.              In the international view, however, the potential of capital to flow in the hands of the Australian share market are maximized while transaction cost is minimized.  The rich will crawl in the doors of the poor for the latter to benefit from the surplus of the former.  The constraint though is that trading firms who are small and needs the capital of larger firms or rich individuals should be listed.  Investors may not be attracted by the category since brokers can easily manipulate the stock price.  Assurance should be provided first by the company to investors before transactions may ensue.  In the opposite manner, large firms who are listed in the Australian share market would receive the greater amount of investment from wealthy investors because of the lower risks of failure of its operations, hence, greater amount of return.  Capital could concentrate to this category favoring the stricter policies confronted by companies under this listing.  Australian Share Market is efficient bec. Of the Lack of Fraud in Trading The available services of the Australian share market create certain nets to prevent existence of fraud in the trading.  They can provide information about the trend, history and other pertinent data for a speculating investor and issuer.  It is unlikely that it will risk its corporate reputation and history for just certain amounts of money.  Thus, if participants would want to support their decision with safer means, the Australian share market can give it to them.  These services also are performed by its employees who undergo training and enjoy benefits.  This human resource factor tightens the entrance for fraud to be performed by its brokers, analysts and other sponsors.              The Australian share market is a market that due to large capitalization of traders, brokers do not have the tools to manipulate the prices of securities substantially.  Because of this, the Australian share market could be a possible and rational place for opportunistic behavior to ensue.  The complexity of trading, due to its internationalization, result for markets to trade disregarding analysis or hiring brokers who often regarded as a hope for correct and factual analysis.  Since speculation is one of the main mechanisms for investors to trade, studying the nature of the destination of investment is likely to be passed to brokers.  The wealthier the investor, the busier it is to observe the bout-by-bout trading.  As a result, the Australian share market is an ideal dwelling for ghastly brokers to do their thing, unguarded.              In the Australian share market, the buyers are gaining through absorption of risks (while the initial sellers of assets get-off from such risks.)  However, buyers may have enormous risk exposures and may cause its finance to exhaust to a certain level.  Because of this, it may re-sell its old contract for a higher price through some form of marketing and “sales talk”.  At this point, information about the old contract can be extended manipulatively to involve alluring future gains from the assets.  This act is likely to accelerate and becomes more exposed to fraud if the buyer conceives that his original contract phases loss.  Since the Australian share market confirms it has a strong market base, these opportunistic dealers would select victims from the large pool especially international investors.              Though electronic trading is a significant development to modern securities market, the power and speed of technology can also be used in fraudulent means ( 2001).  The information from the internet and chat rooms can mislead investors and can loose money in an instant by using their credit cards to upload the payment.  The Australian share market has a website where important information about the trading is posted.  As a result, investors would tend to rely much of their decision making through the internet, perhaps, undermining the information in daily broadsheets due to speed and comprehensiveness of net data.  However, scams and misleading information has its ways to be posted and allure investors.  The web-based approach and seemingly corroborating stance of the Australian share market to technology, thus, motivate investors to accept data regardless of authenticity. For the international capital seekers, they can enter the Australian share market through with less pressure to show who they really are in home countries.  They can restructure their identities to become good performing and “hot” companies in the eyes of the local investors.  They can deploy shares through the control of their brokers wherein collusion to exercise investor fraud could arise.  They can distribute laundered money and the Australian share market could also serve as refuge for foreign kingpins who would want to avoid local restrictions to become rich.  They can cloth themselves to be small even they are capable to raise huge amount of capital.  These companies can list their names the market to start their fraudulent acts towards unwitting investors.  The hands-off position of the Australian government to the operations of the business is a huge incentive for fraud to occur.       CONCLUSION The results of the analysis carried out on the Australian share market indicated very significant factors that point towards its high level of efficiency, even amidst the threats of unrest. Therefore, we could conclude that the operations of the Australian share market could still be expected to improve faster than average. The review of the Australian share market’s capabilities and resources revealed very little inconsistencies regarding its strategies. This is coherent with its traditional inside-out approach. However, the need to reconcile both the inside-out and outside-in approaches becomes imperative now for the investors in the Australian share market. The analysis among the Australian share market environment as well as its operations and capabilities revealed certain gaps, most of which are biased towards the environment. However, these gaps paved the way towards determining a number of recommended strategic options to secure the competitiveness of the Australian share market. Also, the investors have to find a balance between adherence to internal forces within the management and to the changing forces of the environment in order to implement such strategic options.   REFERENCES Book     Periodicals     Electronic Source

Is the Australian Share market efficient? Discuss with reference to peer reviewed academic literature on weak form, semi strong form and strong form market efficiency

OBJECTIVES As a person with knowledge of the Australian share market, the author has always brought up to his superiors the viability o...

The Impact of Refugees on Australia

The Impact of Refugees on Australia               A refugee is defined as any person who owing to a well founded fear of being persecuted for reasons of race, religion, nationality, membership of a particular social group or political opinion, is outside the country of his/her nationality and is unable, or owing to such fear, is unwilling to avail himself/herself of the protection of that country (). Refugees can obtain permanent entry to Australia through the Humanitarian Program. The Humanitarian Program has two components: offshore resettlement that is being offered to people in humanitarian need abroad; and onshore protection for those people already in Australia who arrived on temporary visas or in an unauthorized manner, and who claim Australia’s protection ().             The Australian Government has an obligation, under international law, to provide support and to make sure that a refugee is not sent back to his/her country of origin without consent. Australia’s involvement in refugee resettlement is an important contribution to global efforts to find solutions for victims of persecution and war. Australia’s Humanitarian Program offers resettlement to refugees and others overseas who are in need of humanitarian resettlement and for whom other durable solutions cannot be found. Resettlement provides a lawful and orderly means by which people in need of protection and durable solutions can seek to come to Australia. Australia’s resettlement program is one of the principal ways in which it contributes to the system of international protection. Australia resettles refugees and others who are overseas through the offshore component of the Humanitarian program. The offshore component of the Humanitarian program (or resettlement program) assists people who are subject to persecution or substantial discrimination amounting to gross violation of human rights in their home countries and have fled their mistreatment. The program is designed to ensure that places available go to those in greatest relative resettlement. As an active contributor to the system of international protection, Australia has consistently promoted the strategic use of resettlement to respond to long standing refugee situations. Over the past six decades, Australia has given new opportunities to more than 675,000 refugees and humanitarian entrants. These people have made valuable contributions on Australian life and society by bringing new ideas and new skills (). The Australian Government is commited to increasing the settlement of entrants under both Humanitarian and Migration Programs in regional locations, to decrease pressure on major metropolitan cities, contribute to the long-term development aims of Australia’s regional towns and cities, and help to address labor shortages in these areas. Regional Australia may provide the best settlement opportunities for some humanitarian entrants, particularly those who have come from rural backgrounds or who have skills suited to employment opportunities available in those areas. The Australian Government is seeking to establish new regional humanitarian settlement locations, where appropriate services and opportunities exist or can be developed, in close consultation with state, territory and local governments, service providers and key local stakeholders. According to Mr. Chief executive officer of Refugee Council of Australia, any process of resettling refuges from protracted conflicts brought challenges, particularly in the short-term as former refugees adjusted to life in a new and different land. The experience across the country shows that Australia is well-equipped at supporting refuges through the adjustment phase (). The Department of Immigration provides funding for the refugee resettlement program.  The refugee families are given assistance and the government provides aids to help the refugee families to set up. The local volunteers on the other hand are responsible for helping the refugee families assimilate ad adjust to the communities.(). Some Australian communities have some concerns regarding accepting refugees in their towns. The town of Tamworth is wrestling with a decision by its council to reject the settlement of five refugee families from Sudan under a federal government funded scheme. Six of the nine councilors who originally opposed the refugee scheme said they had reservations it would be adequately supported (). Some of the concerns of the local community are housing and employment, housing and crime. According to a refugee, “the people of Tamworth think that we are lawbreakers and we are criminal, job stealers” ( ). Refugees experience great social isolation, slow rate of English acquisition and late entry into the workforce. The refugees are seen as posing economic problem to the people of a community. Refugees are seen as a threat to the economic well-being of the citizens in that they are seeking to steal the jobs that properly belong to Australian citizens. This theft of jobs is also often presented as having the effect of depressing the pay of Australian workers because the refugee workers are prepared to work for far lower wages than are currently being paid to Australian workers. The residents of Tamworth are also concerned about the security in the community. Refugees often commit crimes, they also pose a threat to the fabric of society, and that they are a drain on the resources of the local social services.  However, some communities welcome and support the newly arrived refugees. Several business owners and residents in Toowoomba support the refugee program. Some businesses offer job opportunities to refugees (). Some refugees carry diseases and viruses when they enter Australia. In order to prevent the spread of diseases carried by refugees, Prime Minister said that Australia should deny entry to refugees and migrants who carry the HIV virus. Official figures showed the number of people with AIDS-causing virus moving to Victoria State had quadrupled in the past two years and that some of these people were migrants. According to Howard, he would consider changing the law to prevent people infected with the virus settling in Australia (). Refugee movements can threaten the core values as well as the basic means of survival of the host community. Small groups of technologically backward indigenous people are typically vulnerable to in-migration from economically more advanced groups, especially if migration takes place within the country and the migrants are supported or resettled by the state in a particular area. Refugees threaten the identity, the economy, the social cohesion, and, in the end, the very collective existence of the community in the receiving area.   The Australian system demonstrates a strong state interest in controlling immigration. Security concerns about the number of arrivals have led the government to choose to use the existing programme in an effort to confirm its control of the situation as a whole. It is, however, questionable whether the departure from an orderly arrival programme has been positive for either state or individual security – even if it may give the individuals concerned more autonomy in actively seeking asylum rather than quite passively remaining in line. This positive spin, however, cannot outweigh the clear dangers associated with the use of smugglers and hazardous crossings in overcrowded boats. Rather than obvious security concerns influencing refugee protection policy in the Australian case, it seems that the perception of an insecure border, demonstrated by the arrival of boats, has driven policy changes over the years. This concern can certainly explain the changes in policies; the bigger question for Australia is whether that is a genuine security concern, or some kind of phantom that could be better managed in other ways. The refugees that apply for Australian protection undergo a selection process that is base on immigration officials’ perception of their ability to assimilate to the Australian society. Many people are applying for protection. The number of applicants for humanitarian visas are bigger than the country’s quota making a selection process based on the perceived assimilability of an applicant possible. Many refugees that are granted protection are not the ones in need but rather they are the ones who have potentials to assimilate to the Australian society and have the capability to resettle in Australia. The refugees are selected by assessing their ability and potential to integrate into the Australian society. The migration and refugee policy of Australia is influenced by social cohesion. Most refugees in Australia have difficulties assimilating to the society because of cultural difference. There are also Australian citizens who have reservations about accepting refugees in their communities. Major cultural and values differences are seen as the main causes of tension between refugees and citizens. Some refugees are being discriminated against.  Some refugees are considered as job stealers and that they are burden to the community. Some people view them as uneducated people who entered the country to have a better life. Some refugees are discriminated against. Some Australians believe that these refugees can be a threat to the security of the communities where they resettle. Some of the concerns of the local communities regarding accepting refugees are housing, employment and crime.

The Impact of Refugees on Australia

The Impact of Refugees on Australia A refugee is defined as any person who owing to a well founded fear of being persec...

The notion of “school culture and the sub-cultures” within Australian schools

The notion of “school culture and the sub-cultures” within Australian schools   Introduction             Culture is simply defined as shared beliefs, customs, practices, norms, policies, social behavior and values of group. In academic context, culture reflects the dynamicity of each institution wherein ‘the way we do things here’ is the mantra. What shapes school culture are rituals, expectations, relationships and decision-making processes. Unique attributes could be also evident in curricular focus, extra-curricular activities and graduation requirements. Teacher and student interactions are intrinsic part of school culture. Nevertheless, a school culture could be shaped, enhanced and maintained through school leadership. Australian school culture is not an exemption as it also shaped through various relationships between student, teachers and the management. In this paper, such school culture and subcultures will be explored as well as the implications for the teaching community. School culture in Australia             In Australian schools, attention was provided to creating and maintaining a school culture that valued learning not only amongst the students but also among the staffs. The principal took great pains in explaining interconnections between teachers and administrative leaders in bringing school’s purpose, structure, function and culture into alignment. Backward mapping process is evident in the culture whereby the primary focus is understanding what the school wants the student to achieve and build pedagogy and teaching practices around that premise. From there, the necessary step is to build structures and leadership and the culture in the way to support the actions of the teachers and the management itself. In this way, schools are able to ensure the close link between what leaders do inside the schools and what happens to the students inside the classrooms (MacBeath et al, 2008, pp. 92-93).             Dimmock (1993, p. 107) contends that school culture in Australia are built subjectively and is manifested in the everyday business of school life. School activities are the medium for value display. Even so, key elements of schools cultures apart from values, beliefs and meanings are heroes, rites and rituals. Choice and recognition of heroes, for instance, occurs within the cultural boundaries identified through value filter. Cultures are espouses all around excellence in various aspects like sports, academic and artistic among others hence sporting, social, academic and artistic heroes will be recognized and honored by students. Through this, schools could possibly create an inclusive culture without disruptions to the teaching and learning process. Schools could also promote value clarification, school-wide actions, pedagogical decision-making and understanding identities (Moss, 2006, p. 4)             Australian school cultures could be also professional and bureaucratic, with values underpinning both. Bureaucratic domain focuses on mediating between schools and community while professional domain focuses more on teaching and learning and the collegiality that surrounds the process. Differences in schools could be highlighted through attention to the balance or proportion to each domain and perhaps the degree of excellence can be identified through similar means. School-based management negotiates time and importance between the two domains. By which domain should be dominant in schools are decided by the principals, perceived as a significant role in shaping the choices that are made in regard to the development of domain within schools (Dimmock, 1993).             The concept of coupling is also embedded on Australian school cultures. Coupled events are responsive but each event preserves its own identity and evidences of its physical and logical separateness. For example, schools have straightforward tasks and standards and consistent inputs and identified outcomes but with structures that are warranted and workable. With school processes improvement at the helm, schools could hire additional teachers whenever necessary but outcomes must still be consistent if not to be improved further. Aside from schools’ definite goals, technological advancements, activity coordination and connected structural elements are changed when the needs arise but different priorities for school outcomes must be also changed in the process (Dimmock, 1993).             Spoehr (1999, p. 252) assessed that the directions that Australian schools are trying to pursue is from a stuck culture into collaborative and socially critical culture. A stuck culture is where low levels of teacher, deficit view of students and teacher privatism are evident. Collaborative is more particular in collegiality wherein the whole teaching community within a school is willing to work together towards the pursuit of improving student learning. Teachers in a collaborative culture continually test and evaluate the adequacy of their theories about teaching and learning. Thereby, a collaborative culture that is now dominant in the Australian academic society covers coherent school planning, student-centered and curriculum development-driven.   Compared to socially critical that emphasizes social justice emphasis, critically reflective teachers, promote critical literacy and celebrate difference. Subcultures             Some kinds of solidaristic attempt to resist the dominance of mainstream school system are school subcultures. Ethnicity, class and gender play significant role in the emergence of various subcultures within schools.  For instance, ethnic schools have become a major feature in Australian academic system before and now minorities like aborigine and refugees to enable children form ethnic constituencies to master curriculum necessary both for the success of national examinations while also maintaining elements of ethnic cultures. Nonetheless, they form part of the general independent school system (Verma, 1989, p. 73). Class and again gender also have roles in subculture creation. Versions of masculinity and femininity within schools are perceptible in sports and cheerleading but the former is more regarded as an achievement of unity and school spirit than the latter (Henry, 1988, p. 155).              Subcultures in Australian schools are lived culture, encircling day to day routines, habits and actions. The broader culture in the domestic society is where emergent subcultures depend their identity to some degree and there are subcultures existing on the basis of culture heritage like Irish, Lebanese and Bosnian Australians. Exposure, familiarity and extent of emersion on some subcultures regardless of race and class are also indicators of belongingness in some subcultures. Coolness, for example is best epitomized by what music genre they are listening and what language they are speaking, mostly street slang. The culture of adolescent within Australian schools is also subdivided into other subcultures such as deviant subcultures (Bahr and Pendergast, 2007, p. 180).               The Australian educational system itself also unconsciously bred various subcultures particular in the structure of the system. One clear example of this is the further division among private schools. Elite schools, which are comprised of relatively a small fraction of the private sector, appear large in social importance and public image. There are schools that are committed in maintaining particular subcultures which is basically based in religion and ethnicity. Alternative schools are hone own subcultures that rest particularly on the educational notions of community and individual development. Moreover, these private schools could be also divided as profit-making and charity schools (Marginson, 1997, pp. 48-49). Although these schools maintain grounds of subculture, a differentiation is based on the ground of quality and extent of responsibility.                    Despite the inexistence of subculture in Australian school system, creating a learning community is always the entrenched goal. However, the fact that subcultures affect the teaching and learning process cannot be ruled out as Vrasidas and Glass (2004) made mention that subcultures could lead to complexity in academic work. Involvement of teaching staff is a priority to respond to the dilemma, requiring a fundamental shift in the teaching and learning culture rather than just the relaying and acquisition of skills and understanding. Professional development, with respect to diversity in subcultures, meant creation of an environment in which changed practices are part of the usual professional activity. Professional practice must be fundamentally related to and occurs within groups or organizational system, each with its own subculture. Implications to teaching professions             These cultures and subcultures require a restructuring in the teaching population in Australia. Central to the restructuring is the empowerment of teachers within a school culture that is both shared and technical particularly because the cultures not only foster the types of outcomes for students but also stimulate continuous professional growth among teachers. Leithwood and Begley (2002, p. 129) asserted that norms of authority and discipline typically characterize teachers’ interactions with students while professional advice isolates teachers from their peers. Instructional decisions most importantly are adaptive wherein the professional culture now bends to cater for student-centered interactions. Norms inside Australian schools require supportive and positive teaching-learning environment.  While discipline should be maintained, it is now more dictated to serve the interests of learning rather than an end on its own right.             As such, teachers are continuously asked to engage in a shared and technical culture that is embedded on norms of collegiality, collaborative and continuous improvement. Staff and the student body are cohesive and to have a strong sense of community, teachers are asked to do as well especially that they have the capability, motivations and resources to do so. To make the schema whole, administrators should live with the expectations to provide effective instructional leadership and parents should act as co-partners in meeting the needs of the students. Reciprocity would be then evident in the culture not just among teachers and their students but also among staff, the schools as institutions and the essential component which is the parents. These changes in the professional culture would be a valuable response to new and more complex expectations for student outcomes, high expectations of the public from schools, changing family environment and expanding body of technical know-how which concerns instruction (Leithwood and Begley, 2002, p. 129).             Despite the necessity to build collaborative teaching environment, there is also a requirement to value teacher’s individuality at the same time. The ethic of care is the most important aspect of such because teachers spend as much time as possible in contact with their students.  School cultures and subcultures strongly support creative and efficient problem-solving from the perspectives of the teachers, solitude will be as important wherein autonomy over the teaching practice is apparent. The goal is not to mandate collaborative culture that jeopardizes isolated cultures but to cultivate a collaborative professional situation that also hones effective isolation among teachers (Leithwood and Begley, 2002, p. 130). In this way, shared problem-solving could be promoted like engaging in dialogue concerning teaching practices and evaluating such practices in a shared manner. This is also critical in improving school performance where teachers can align their professional and personal goals on collaborative goals of the institution as an organization.                 The uniqueness of learning classroom environment also requires teachers to develop their communication behaviors because teachers also come from a specific culture and/or subculture and involved teaching students from other cultures and subcultures. Dimensions of teach communication behavior that directly influences attitudes and learning outcomes include questioning, wait time, communication rate, helping, friendly and understanding teacher behavior, verbal reinforcement and non-verbal reinforcement (Klein, 2006, p. 116). All of these inhibit students’ capacity to learn. Teachers must be also equipped with the knowledge on learner’s self-image which is greatly influenced by their level of acceptance within their own culture of subculture to make communications more effective. As learners, students also seek acceptance from teachers and prefer to negotiate learning with teachers. It would be critical then for teachers to create a cooperative culture within the classroom (Kiddey and Robson, 2001, p. 21). Conclusion In sum, school cultures in Australia are ones that develop not only the well-being of students but also of the professional (both teachers and staff). Backward mapping process is a critical endeavor. School culture is either professional or bureaucratic or the combination of the two. Further, it is currently changing into a more collaborative culture. Subcultures, on the other hand, vary according to ethnicity, religion, gender and class. Apparently, subcultures could be also created through the educational system and as outgrowth of most dominant cultures in the domestic society. Further and deepening collaboration among teachers could be an important implication of emergence of different cultures and subcultures. References Bahr, N. & Pendergast, D. (2007). The Millennial Adolescent. Australian Council for Education Research. Dimmock, C. A. J. (1993). School-based management and school effectiveness. Routledge.   Henry, M. (1988). Understanding schooling: an introductory sociology of Australian education. Routledge. Kiddey, P. & Robson, G. (2001). Make Their Heads Spin! Improving Learning in the Middle Years. Western Australia: Department of Education, Curriculum Corporation. Klein, M. B. (2006). New Teaching and Teacher Issues. Nova Publishers. Leithwood, K. A. &  Begley, P. T. (2002). Developing expert leadership for future schools. Routledge. MacBeath, J., Dempster, N., Frost, D., Waterhouse, J. & Swaffield, S. (2008). Connecting Leadership and Learning: Principles for Practice. New York: Taylor & Francis. Marginson, S. (1997). Educating Australia: government, economy, and citizen since 1960. Cambridge University Press. Moss, J. (2006). How to Succeed in Making Schools Inclusive. Australia: Curriculum Corporation. Spoehr, J. (1999). Beyond the Contract State: Ideas for Social and Economic Renewal in South Australia. Wakefield Press. Verma, G. K. (1989). Education for All: A Landmark in Pluralism. Routledge. Vrasidas, C. & Glass, G. V. (2004). Online professional development for teachers. Center for the Application of Information Technologies, IAP.

The notion of “school culture and the sub-cultures” within Australian schools

The notion of “school culture and the sub-cultures” within Australian schools Introduction Culture is simply defin...

Total Quality Management: Healthcare in Queensland, Australia

Total Quality Management: Healthcare in Queensland, Australia Shortage of Doctors and Nurses in Queensland Healthcare Industry               Total Quality Management or TQM was coined by the U.S. Naval Air Systems Command to describe its Japanese-style management approach in terms of quality improvement (2007a). It comprises four process steps, namely, Kaizen, which is to make processes visible; Atarimae Hinshitsu, which is to focus on intangible effects on processes; Kansei, or examining the way the user applies the product; and Miryokuteki Hinshitsu, which broadens management concern beyond the immediate product (2007b). However, in more general terms, TQM is defined as a management approach for an organization, centered on quality, based on the participation of all its members and aiming at long-term success through customer satisfaction, and benefits to all members of the organization and to society (2007b). From this, it can be understood that the aim of TQM is to improve and develop the system and approach of an organization for customer and employee satisfaction. This form of management is crucial for any organization belonging to any industry, for this determines the quality and extent of service that they can offer their customers. However, not all service sectors meet the standards required in providing quality management. Several issues can still be determined, which allows the further improvement of the service industry. Issues include the lack of funds and resources, which allow the service industry to improve and upgrade their facilities and provide the needs of employees and customers, the lack of manpower or talents, the lack of strategies in attracting and retaining customers, and the lack of strategies of sustaining and maintaining employees. In addition, providing benefits and compensation for employees and ensuring a healthy and safe working environment are also issues to be addressed. It has been reported that in today’s successful service organizations, safely and health management concerns go beyond the physical condition of the workplace to a regard for employees’ mental and emotional well-being and a commitment to protecting the surrounding community from pollution and exposure to toxic substances, which now involves the employees at all levels (2002). Equally important, this type of service is vital in the healthcare industry, especially to hospitals and other health related establishment, where patients and health-deficient individuals rely upon their efficiency and expertise. However, due to uncontrollable circumstances, the quality of service in the healthcare industry has been declining, and this presents a myriad of quality issues and challenges in the service sector. A relevant issue that can be addressed is in terms of the service and facilities of public or government hospitals and health clinics, which have focused on the reduction of spending with their facilities and with allocation of public health care dollars (2002). An example of which are acute care hospitals, for they are complex institutions comprised of numerous medical specializations in which physicians have considerable decision-making power (2002). The reduction of allocated resources and government spending results to the lack of facilities and healthcare professionals in terms of the quality of service rendered in government hospitals, thus, lessens also the amount of healthcare services that patients receive from them. In addition, the lack of government spending and resources leads to the constraint of human resources or talent, taxpayer funding, transparency or information-sharing, lack in the establishment of effective projects and infrastructures, citizen involvement, and service delivery (2007). On the other hand, service and quality issues are also being faced by private hospitals and healthcare facilities, which consider a number of factors in order to function and render service effectively. In low and middle-income countries, factors, such as those that add to discrepancies between provider knowledge and practice are being faced. Private hospitals perceive and experience patient and community pressure in order to provide treatments, lack the capacity to enforce regulatory controls, and lack multi-faceted strategies, including the local adaptation and distribution of information (1998). In relation to this is the pressure and challenge of educating patients and communities, so that they will be able to adopt achieve treatment-seeking and treatment-taking behavior, feasible mechanisms for guaranteeing and monitoring service quality, and self-regulation by provider organizations or provider accreditation (1998). With these problems and challenges, the salvation of private hospitals in relation to the development, improvement and evaluation of strategies would depend on the involvement of their stakeholders and policy makers, and practical, inexpensive, effective, sustainable and efficient interventions, to achieve their goals (1998).               Moreover, a specific issue to be addressed in the healthcare industry is the recruitment of healthcare professionals, such as doctors and nurses, in relation to the control of quality management. Quality management is a method or process, which ensures that all activities needed to design, develop and implement a product or service are efficient and effective with regards to a particular system and its performance (2007). With this, it can be understood that this method encompasses all other strategies and techniques implemented in service organizations, which are responsible for attracting and retaining healthcare professionals in a specific healthcare institution. However, despite the existence of this type of management, several problems and issues are still faced by healthcare and service institutions, in relation to the recruitment and retention of its skillful workforce. Primarily, like any other service organizations, hospitals and other health-related establishments must be able to advertise job and position openings to attract skillful healthcare professionals. The issue that must be addressed here is the ability of the healthcare institution to utilize different available advertising channels to be able to catch the attention of healthcare professionals. Today, the use of the World Wide Web in terms of advertising could be utilized, for its use is becoming more and more indispensable (2006). This then, becomes a means for attaining quality management strategies, for an effective use of advertising channels can be a particular strategy in order to develop, design and implement a product or service (2007). Second, it has been reported that quality has been seen as a natural consequence of a sound medical education and good intentions on the part of medical practitioners, which are related to professionalism, trust and clinical autonomy (2000). With this, an issue that can be addressed is the fact that to be able to render efficient and effective service, a healthcare institution must recruit and select skillful and experienced doctors and nurses. This issue becomes relevant to the concept of quality management because the recruitment and selection of right healthcare professionals would become crucial for the effective operation of the whole institution. Considerations that can be considered include the specialization and skills of the healthcare professionals, the academic institution from where they obtained their education, the referrals from their previous work or referrals from reliable sources, and their experiences in the related field. The consideration of such factors can be used to effectively select the rightful employee for the job.             Another issue to be addressed is selecting a healthcare professional, who has the similar beliefs, mission and goals as the ones being implemented in the healthcare institution. Although the primary aim of doctors and nurses is to improve the health conditions of their patients, they must still conform to the standards of the hospital and focus on rendering the highest possible standard of service that they can afford. With this, the role of the Human Resource team would be highlighted for the members of the team will be responsible for making decisions in the selection and recruitment of employees. The issue that must be addressed here is the fact that the HRM team must be able to choose the rightful employees, who could be molded to adopt and implement the mission and vision of the healthcare institution, in line with its intention of rendering effective, efficient, and quality service to patients.             In line with the responsibility of healthcare professionals is their need and requirement for effective and efficient hospital equipments and facilities. However, the intention and responsibility of doctors and nurses will not be attained without effective and efficient hospital facilities that would cater to the needs of their patients. The issue to be addressed here is the ability of the healthcare institution to provide for the needs and requirements of doctors and nurses in terms of facilities and equipments. This aspect can be a particular consideration in the recruitment and selection of doctors and nurses, for they must be able to adapt to the facilities and equipments available to the healthcare institution. In relation to this is the fact that because of the drastic and continuous development and improvement in technology, education, and communication, the use of more sophisticated and advanced pieces of equipments are being implemented in healthcare institutions to enhance the services that hospitals can render. The issue to be addressed here is the crucial selection of skillful healthcare professionals who are willing to learn new strategies and techniques that would help the healthcare institution further improve and develop. Having effective hospital facilities is determinant in implementing quality management, as indicated in the study of  (1999), who emphasized that with effective and advanced facilities, quality management in hospitals in Australia is improved and achieved, in relation to the use of its skillful healthcare professionals. From this discussion, it can be understood that Total Quality Management has a lot to do with the effective and efficient improvement and development of healthcare institutions, along with its crucial role in the recruitment and selection of skillful and rightful healthcare professionals.

Total Quality Management: Healthcare in Queensland, Australia

Total Quality Management: Healthcare in Queensland, Australia Shortage of Doctors and Nurses in Queensland Healthcare Industry ...

FINANCIAL STRUCTURE OF AUSTRALIA

Financial Snapshot Kevin and                  Jane Floyd Ages:    49                 48 Salaries: $61,700     $38,000   Assets Home:                        $370,000 Superannuation:     $80,000 (Kevin), $58,000 (Jane) Shares:                      2000 Telstra Instalment Receipts (Kevin’s name) Cash in Bank:          $20,000   Liabilities Mortgage:                  $180,000 Credit Card debt:      $1,000   Expenses Home Loan:              $300 per week Living Expenses:     $450 per week Other:                         $290 per week Total:                          $1040 per week       Introduction In the earlier days of the year 2000, (2000) summarised the human capital predicament into several parts. He noted initially that the labour force is getting old. In this context, he meant that a considerable number of the most important skills and experience will be in the retirement age in the coming five years. Secondly, he noted that the government is not aggressive in the existing job markets. In this manner, there will be an increasing trouble in the acquisition, employment, and retaining of talented new employees. Thirdly he noted that the retrenchment in the whole decade of the 1990s have significantly dawdled the integration of new employees in the contemporary technological and other required skills into the workforce and similarly diminished the training investments by other companies (, 2002).   The pressures in the workforce issues will subsist until the coming years.  Although it may not be as grave as the issues experienced in current times, but it will be different in circumstance and structure. Contemporary approaches and methodologies will be planned and executed reliant on the impediments they will be tackling. Society is constantly getting older while people are lining in a much protracted state. The figure in which the workforce is increasing smaller at the same time as the public requires the availability of jobs become increasingly higher as time passes. Superior service form public and private sector is anticipated as the development in a considerable number of factors is ongoing. Urbanisation and a number of different predicaments connected with it will definitely take place in the coming years (, 2000). Actually, the issue of ageing in workforce is also the similar issue in the case of Kevin and Jane since they are really conscious to the possible development brought by ageing and retirement.   Analysis Ageing, as a stage in the life cycle, and retirement, as the act of withdrawing from active (or at least paid) employment, have always been linked. Beyond this traditional linkage, there is little agreement on matters such as 'the right age' to retire, or the desirability of continuing in employment beyond the conventional or statutory retiring ages. Since the writer of Psalm 90 declared that the days of our years were three score and ten, different societies have adopted a wide range of criteria to denote ageing. Daniel Defoe, author of Robinson Crusoe, thought that a man was 'over the hill' at 50 and was entitled to a pension (, 1976).   Statutory retirement and national old-age pension schemes were introduced gradually in a number of countries from the middle of the nineteenth century onwards, with age 65 as the most common criterion for retirement/pensionability (, 1978). In Australia, 65 was also adopted as the pension age for men, but women became eligible at 60, and the same distinction was introduced in Britain in 1940. Actually, Jane and Kevin need to consider these variables to have a prepared future. Additionally, not only are retirement and health benefits promised to a rapidly growing proportion of the population, but the real benefits per person also rise significantly. In the public sector alone, there are large unfunded commitments for Social Security, Medicare, and Medicaid benefits covering long-term care, as well as for other programs such as Supplemental Security Income for the elderly. In part because of these public benefits, individuals privately save only modest amounts for their retirement. Private employers, in turn, face the prospect of rising costs for defined benefit pension plans and largely unfunded retiree health benefits, as well as requirements to pay expensive health insurance costs of older workers in lieu of Medicare if they offer any health care to younger workers. Moreover, increases in life expectancy threaten the retirement security of even those who have saved on their own by forcing them to stretch their retirement savings over a longer period of time.   This is in lieu with the costs of medical care rising dramatically due to a shift in national demographics in which more people are living longer, fewer births are occurring, and the portion of the population known as the "baby boomers" are aging (, . 2000). Additionally, the elderly are high consumers of costly acute and long-term care services. As more of the nation’s population needs elderly health services and a declining proportion of the population will be contributing taxes to finance the program, Medicare's fiscal health will remain in jeopardy if programmatic changes are not initiated (, . 2000).   Based on the information provided, if the Floyd continues making minimum payments on their outstanding debts, the left over for all other expenses may help to their future. To determine how much money will they have left over for all other expenses, we have to compute first the total annual income of Floyd minus outstanding debts and annual expenses, thus we have:   Total Annual Salary of Floyd= $80,000 (Kevin) + $58,000 (Jane) = $138,000   Debts:             Credit Cards: $1000 Expenses: Home Loan:              $300 per week or 14,400 per annum Living Expenses:     $450 per week or 21,300 per annum Other:                         $290 per week or 13,920 per annum Total:                          $1040 per week or 49,920 per annum   Then the total left over excluding the home loan and other expenses is: Left over= $138,000 – ($14,400 + $21,300 + $13,920) - $1000                = $87,080   Since the couple recently borrowed $180,000 to buy a new home for $380,000 leaving them with a weekly mortgage repayment of $300, then it would be beneficial to calculate the number of years to settle down this mortgage with this minimum payment.   Since the annual payment for this mortgage is 300 x 48 = $14, 400, then  will give you 19.4 or let say 19 years of payment. Based on this number of years, 19 years is quite a long period to settle the mortgage, thus it is advised that the Floyd should increase their weekly payment to complete the remaining balance in small number of years since Jane is scared that she couldn’t meet those repayments if something happens to her partner. Basically, aging and death are the things that most Australian couple thinks when they reach their silver wedding anniversaries. Actually, the tremendous growth in numbers of older Australians has crop up from remarkable changes in the population’s health status. In the early days of population ageing, health developments led to augmented survival rates, particularly in childhood. These changes were due more to improvements in housing, hygiene, nutrition, immunisation and education than to advances in medical treatments. In more recent years the health system itself had to change to accommodate the changed demands for services that have arisen from an ageing population. Thus developments in population ageing and health are intimately intertwined, being both antecedents and consequents of one another. Since ageing and health is the key issue in Jane and Kevin’s future plans, then they should carefully assess the steps and financial strategies they will use to attain better future.   With regards to the issue of superannuation, Jane and Kevin can still enjoy the years after their retirement since they will have a good pension as regulated by Superannuation Industry (Supervision) Act 1993 and the Financial Services Reform Act 2002.    Based on the information, Jane would like to be able to reduce her working hours in about five years’ time to spend more time with her grandchildren. But Kevin, who works in warehouse sales, is not planning to retire early. And since this would be the case, it is suggested that to pay the mortgage for 2 to 5 years time. Actually, retirement is a phenomenon of growing importance in economic life. Longevity has been increasing, and retirement ages have been declining. As a result, retired people represent a growing proportion of the population. When the baby boom generation retires, starting around 2005, this proportion will rise sharply. Trends in retirement have raised important questions about the financial soundness of some of the main institutions that provide income to retirees and their families: social security, other public and private pension plans, and medicare. In the case of Jane and Kevin, they should accomplish first their financial liabilities before retirement in order to enjoy the succeeding years. Thus, planning to meet the daily needs and payment of debt should be considered.   Actually, public concern about the future of social security and public and private pensions has stimulated a growing body of research on retirement, aging, and the problems of the elderly.   Breakdown of payments for 2 years time 1st year = $90,000 2nd year = $90,000               From this scenario, here’s the summary of Floyd financial details. Total Annual Salary of Floyd= $80,000 (Kevin) + $58,000 (Jane) = $138,000   Debts:             Credit Cards: $1000 Expenses: Home Loan:              $1,875 per week or 90,000 per annum Living Expenses:     $450 per week or 21,300 per annum Other:                         $290 per week or 13,920 per annum Total:                          $2,615 per week or 125,520 per annum   Then the total left over excluding the home loan and other expenses is: Annual Left over= $138,000 – ($90,000 + $21,300 + $13,920) - $1000                = $11,480             In this scenario, the amount of left over money is not enough for the Floyd’s plan to travel and visit Thailand and they also have to consider the six children with her daughter Pink from a previous marriage who are still living at their home on a part-time basis. If the Floyd considers the 5-year payment, the summary of Floyd’s financial details would be:   Breakdown of payments for 5 years time 1st year = $56,000 2nd year = $56,000 3rd year = $56,000 4th year = $56,000 5th year = $56,000   Total Annual Salary of Floyd= $80,000 (Kevin) + $58,000 (Jane) = $138,000   Debts:             Credit Cards: $1000 Expenses: Home Loan:              $1,166.67 per week or 56,000 per annum Living Expenses:     $450 per week or 21,300 per annum Other:                         $290 per week or 13,920 per annum Total:                          $1,906.67 per week or 91,520 per annum   Then the total left over excluding the home loan and other expenses is: Annual Left over= $138,000 – ($56,000 + $21,300 + $13,920) - $1000                = $45,480             From the 5th year plan of mortgage payment, the Floyd would have an extra $45,480 that can be used for overseas trip or they can also put it on their saving account for retirement preparation.               Based on the 5-year plan of mortgage paying, the Floyd could still enjoy and go to their planned overseas trip in Thailand with no worries.  Using this set-up, they can still have enough money for their retirement preparation and unexpected expenses since they have grand children and a daughter leaving with them. In addition, the Floyd is not suggested to borrow more money because they still have plenty of resources i.e. shares of 2000 Telstra Instalment Receipts and Cash in Bank of $20,000.   Synthesis An employee must save and prepare for his future in case the time has come that he could no longer work as in the case of Jane and Kevin Floyd. This time is also known as retirement. To be able to prepare for that time, an appropriate retirement plan should be considered depending on one’s personal situation and on his plans on what to do with the money he saved. There are types of retirement plan and each one requires certain qualifications that must be met. The two most popular retirement plan today are the IRA and the 401k. IRA or Individual Retirement Account is a plan that allows a person to make contributions each year if they meet the contribution requirements such as earning income for the year at least equal to the amount of the contribution (, 2006) which is also similar to the superannuation scheme in Australia. IRA has many types such as Roth IRA; spousal IRA, Rollover, and the traditional IRA. Generally, all accumulated interest, dividends and capital gains on a traditional IRA are tax-deferred until the money is withdrawn while in Roth IRA.               Another popular retirement plan is the 401k, a trust in which employees are allowed to contribute money before taxes are assessed. Those whose employers offer a retirement plan that qualifies under 401k laws and who are full-time employees are eligible for 401k retirement plan. When joining this plan, employee should select specific investment option. Payments of up to 15% of one’s salary or $10,000 each year are auto-deducted directly from the employee’s paycheck to his retirement account and invested in the specified investment option. The money in here like IRA is not taxed until withdrawn so when the employee retired, he will be likely to belong in the lower tax bracket thus lower tax deducted from his money.               The difference of 401k from IRA is that 401k is a pension plan that is offered though the work place that involves one’s contributions from his salary and contributions from his employer while IRA is a private investment funded by one’s own money. So in the case of Jane and Kevin, they should be interested in IRA but for those who are employed in a company, they should take advantage of the 401k in which an employee can make matching contributions, that some companies contribute 33.3 cents to 50 cents for every $1 the employee contribution (, 1999). However, you can not withdraw your investment until you retire or there will be a 10% penalty and liabilities in deferred income taxes (, 2006).               With regards to the case of Kevin and Jane Floyd, a 5-year plan of mortgage paying is suggested in order enjoy and go to their planned overseas trip in Thailand with no worries.  From this set-up, The Floyd can still have enough money for their retirement preparation and unexpected expenses since they have grand children and a daughter leaving with them. With regards to borrowing of money, the Floyd is not suggested to do it because they still have plenty of resources i.e. shares of 2000 Telstra Instalment Receipts and Cash in Bank of $20,000.             References:

FINANCIAL STRUCTURE OF AUSTRALIA

Financial Snapshot Kevin and Jane Floyd Ages: 49 48 Salaries: $61,700 $38,000 Assets...