Saturday, January 25, 2020
Relationship Between Molecular Size and Rate of Diffusion DIFFUSION AND OSMOSIS Minh Thu Vo INTRODUCTION The center of this lab states around the diffusion across a cellular membrane, how exactly materials move and diffuse in concentrations. Both diffusion and osmosis are forms of movement that are part of passive transport dealing with cell membranes. Diffusion is where the solutes move from an area of high concentration to a low concentration. Water goes through the cell membranes by diffusion. Osmosis is specifically the movement of water through membranes. Since osmosis and diffusion are both part of passive transport, this means that they do not require energy or pumps. There are different environments created due to diffusion. There are hypotonic, hypertonic, and isotonic environments. Hypotonic is when the solution has a lower solute concentration compared to the water potential. The hypertonic solution has a higher solute concentration and lower water potential. In an isotonic solution, there is no net movement and there is an equal concentration of solutes and water (Veno). In our lab, we modeled diffusion and osmosis with a hospital scenario. It is important for a solution to have sugar sucrose in it so the water and solute can be equal to create an isotonic environment. If there wasnÃ¢â¬â¢t, there would either be a hypotonic causing the cell to burst, or there would be hypertonic causing the cell to shrink. Purpose of this experience states the relationship between molecular size and the rate of diffusion across a semi-permeable membrane. The osmotis behavior in plant cells and the relationship between the osmolarity of the surrounding solution and this behavior. Each cell type have a unique osmolarity and be able to quantitatively estimate the osmolarity of plant cells experimentally with the use of solution of varying solute concentrations (Lab manual). We created models of living cells by using dialysis tubing. The dialysis tube represented the cell membrane to act as selectively permeable to water and some solutes. Osmosis is a particular kind of diffusion, because the diffusion happens with water molecules moving from an area of greater concentration to an area of lesser concentration, passing through a selectively permeable membrane. By taking into consideration the movement of two liquids (the iodine and the starch) through a semi-permeable membrane (the dialysis tubing), and bearing in mind the definition of osmosis, we should expect the two substances to mix with each other until the entire content of the test tube appears a homogeneous mix of starch and iodine. However, we know from the background information that starch molecules are very large carbohydrate molecules, and we also know that selectively permeable membranes only guarantee the passage to small or medium molecules; by knowing this additional information, we can state the following hypotheses. If the starch molecules are too large to pass through the selectively permeable membrane (the dialysis tubing), then the iodine (which has small molecules) will expand from the space around the dialysis tubing (point of high concentration), and move through it, going to the inside of the tubing (point of low concentration) until equilibrium is gained; while the starch will not manage to diffuse throughout the test tube, and so will remain inside the tubing and never achieve equilibrium. Instead, if the starch molecules are small enough to pass through the selectively permeable membrane (the dialysis tubing), then the iodine will expand from the space around the dialysis tubing (point of high concentration), and move through it, going to the inside the tubing (point of low concentration) until equilibrium is gained; while the starch will diffuse from inside the tubing (point of high concentration), move through it and diffuse out the test tube (point of low concentration), and so will also achieve equilibrium. MATERIALS AND METHODS Part A: Diffusion of molecules through a selectively permeable membrane Prepare the dialysis bag with the initial solutions of starch and glucose, then tight the bad by rubber band. Pour water into a baker then add several drop of I2KI to have the color light brown. Place the bag of mix solution in the beaker and wait about 30 minutes to remove this bag into another dry beaker. Pour the solution of beaker into a clean tube, add some drop BenedictÃ¢â¬â¢s reagent to tube then heat it. 1) iodine entered the bag, because the solution within the dialysis bag changed from a clear color to a blue/black color. We know because the solution within the bag contains starch that the blue/black color is caused by the diffusion of iodine into the bag, which then reacted with the starch present. Glucose diffused out of the bag, an area of high glucose concentration, into the beaker solution, an area of low glucose concentration. We know this because after the experiment was conducted we tested the beaker solution for glucose using BenedictÃ¢â¬â¢s solution. This indicates that glucose molecules are small enough to diffuse through the membrane. 2) The movement of iodine resulted from the relative high concentration of it outside the bag compared the solution within the bag. It also occurred because it is small enough to diffuse through the pores in the membrane. The glucose was in higher concentration in the bag compared to outside the bag resulting in it to diffuse through the bag. Glucose was able to diffuse through the bag because it is small enough, but we know the starch didnÃ¢â¬â¢t diffuse, even though there was a concentration gradient, because the outside solution after the experiment was conducted didnÃ¢â¬â¢t react to iodine. This means the starch was too large for the membrane 3) I would expect the glucose and IKI molecules the diffuse out of the bag as a result of the higher concentration of the two of them inside the bag in relation to the outside of the bag. When the I2KI diffuses out of the bag I would expect it to react with the starch present outside of the bag and turn the solution blue/black. I would also expect the solution outside the bag to react positively to BenedictÃ¢â¬â¢s solution at the end of the experiment due to the glucose that diffused into it. The starch is too large to diffuse, so I would expect it not diffuse at all. Part B: Osmotic behavior in cells Prapare a slide of Elodea in sucrose O.5M solution and another slide of Elodea in distilled water. Part C: Estimating the osmolarity of plant cells Add 100mL of each solution in to 7 beakers as following order: DI water, sucrose 0.1M, 0.2M, 0.3M, 0.4M, 0.5M, 0.6M. Use sharp blade the get 7 sample of potato, weight each sample then transfer to each beaker solution. Incubate them about 1 hour then remove all sample out of beaker, blot them onto paper to dry then weight each sample. The experiment we conducted gave the result that when a potato has contact with a sucrose solution, the cells will start to shrink. We did this by cutting up slices of potato and weighed them and recorded their initial weights. We used deionized water and different concentrations of sucrose. We than placed each potato slice in beakers with their designated solutions. We let them soak and incubate for an hour then we removed them from the beakers. Next we measured their new weights and recorded them. The objective of this experiment is to detect diffusion and osmosis in potato cells in sucrose solutions. Diffusion is the spontaneous spread of molecules from an area of high concentration to an area of low concentration. Osmosis is a type of diffusion involving water. The results will either be hypertonic or hypotonic. Hypertonic means that the solution is more salute than water. Hypotonic means less salute and more water. For this lab, we can apply these principles to plant cells. The plant cells have a semi permeable membrane so they can experience osmosis and diffusion as discussed earlier. When it comes to the potato cells, added with sucrose it will experience a reaction changing the form of the cells. The hypothesis of this experiment goes as follows, if we place potato cells in a sucrose solution, then the cells will shrink. They will shrink because when the sucrose is added the water in the potato, where there is high concentration, will move to the outside of the potato where there is low concentration. RESULTS Part A Table 1: Iodine and BenedictÃ¢â¬â¢s test Part C Graph molarity of sucrose solution vs % change weight potato DISCUSSION Part A The clolor of beaker change to orange after BenedictÃ¢â¬â¢s test that indicate glucose molecule are small enogh to disuse through the membrane. Glucose diffused out of the bag, an are of high glucose concentration into the beaker solution where area of low glucose concentration. 1) iodine entered the bag, because the solution within the dialysis bag changed from a clear color to a blue/black color. We know because the solution within the bag contains starch that the blue/black color is caused by the diffusion of iodine into the bag, which then reacted with the starch present. Glucose diffused out of the bag, an area of high glucose concentration, into the beaker solution, an area of low glucose concentration. We know this because after the experiment was conducted we tested the beaker solution for glucose using BenedictÃ¢â¬â¢s solution. This indicates that glucose molecules are small enough to diffuse through the membrane. 2) The movement of iodine resulted from the relative high concentration of it outside the bag compared the solution within the bag. It also occurred because it is small enough to diffuse through the pores in the membrane. The glucose was in higher concentration in the bag compared to outside the bag resulting in it to diffuse through the bag. Glucose was able to diffuse through the bag because it is small enough, but we know the starch didnÃ¢â¬â¢t diffuse, even though there was a concentration gradient, because the outside solution after the experiment was conducted didnÃ¢â¬â¢t react to iodine. This means the starch was too large for the membrane 3) I would expect the glucose and IKI molecules the diffuse out of the bag as a result of the higher concentration of the two of them inside the bag in relation to the outside of the bag. When the I2KI diffuses out of the bag I would expect it to react with the starch present outside of the bag and turn the solution blue/black. I would also expect the solution outside the bag to react positively to BenedictÃ¢â¬â¢s solution at the end of the experiment due to the glucose that diffused into it. The starch is too large to diffuse, so I would expect it not diffuse at all. Part B Base on predictions and observation, 0.5M sucrose is hypertonic solution and distilled water is hypotonic solution. Sucrose has the greatest osmolarity. I expect pond water would be hypertonic because it contains compound that make expand to the cell wall (dangerous for cell), in fact pond water is a hypotonic. Part C Base on graph, at sucrose molarity 0.2M is the curve cross the zero change line. This information can be used to determine the osmolarity of the potato tissue. Sucrose 0.2M make no change weight potato that means the natural potato sucrose molarity at 0.2M. If solution has higher molarity than potato, it loses weight because water move out of cell. In contast, the solution is lower molarity then it gains weight and water move into the cell. Thus I can estimate the osmolarity of the potato tuber tissue is sucrose 0.2M. From the results taken, the more concentrated solutions of sugar seemed to draw the water towards it. This supports my hypothesis and also shows that sugar is also a hypertonic solution since it is were there was more water brought into the solution than outside of it. This could be applied in the real world with people who suffer from dehydration. By raising the sugar level in their body, they are more likely to take in more water into their cells. One thing that could be tried in future experiments could be to add additional types of solutions to the experiment that would simulate more of the human internal cell system. By adding more substances, the chances of seeing how osmosis truly works in the body can be seen that could prove useful for medical purposes (Towle). REFERENCES CSULA, lab manual Biol 100b, 2015 Ã¢â¬Å"Plasma MembraneÃ¢â¬ Wikipedia, the Free Encyclopedia. 2009. 8th Nov. 2009. Towle, Albert, Modern Biology, Holt, Rinehart and Winston Inc., Orlando, Fl, 1993. Veno, Barbara, slides and take notes biol 100b
Friday, January 17, 2020
Target area being assessed by the author is hospice service in Sioux Falls and surrounding areas provided by Avera Mckennan. Hospice care is end-of-life care provided by health professionals and volunteers Hospice care provides medical services, emotional support, and spiritual resources for people who are in the last stages of terminal illness. Although most hospice patients are cancer patients, hospice accepts anyone regardless of age and type of disease. The goal of hospice treatment is to keep patient comfortable and improve quality of life. Hospice care tries to manage symptoms so that patientÃ¢â¬â¢s last days may be spent with dignity, surrounded by his/her loved ones. Hospice care is family-centered: the patient and family are both included in the care plan and emotional, spiritual and practical support is provided depending on the patients wishes and families needs. Hospice is not so much a place, as it is a philosophy of care with a family-centered approach that considers the patient and family to be the unit of care (Lattanzi-Licht et al. , 1998). Avera Mckennan Hospice Services are the main focus of author. Avera McKennanÃ¢â¬â¢s Home Hospice and Palliative Care program office is located in the Dougherty Hospice House. Through this program, they provide hospice services in a variety environments: hospice care in the home setting, hospice care in an assisted living facility, hospice care in a skilled nursing facility and also, in Dougherty Hospice House. The Dougherty Hospice House is a unique sixteen bed hospice facility located on the Prince of Peace campus. This place provides a home like setting with specious rooms for patient and sleeping accommodations for family members. It also has a meditation room, wireless internet, beautiful meditative garden, large dining and family room for families to gather, and library. Dougherty Hospice House and its surrounding property are tobacco free environments. About 80% of all hospice care is provided in private homes, nursing homes, independent and assisted living facilities (Caffrey, C. et al. , 2011). If hospice care provided in patientÃ¢â¬â¢s home, a family member will look after their loved one much of the time. Someone form hospice team will usually visit patient once or twice a week assessing a patient and addressing current health issues. Avera McKennan Hospice team consist of 25 people including nurses, social workers, spiritual advisors/chaplains, nursing assistants, trained volunteers, pharmacist and medical director. In case of emergency home hospice patient can call the 24-hour hospice number for advice. A nurse usually can come to patientÃ¢â¬â¢s house at any time of the day or night or give an advise over the phone. Based on the patientÃ¢â¬â¢s circumstances and stage of care, a hospice interdisciplinary team (IDT) may provide variety of services. Registered nurses assist patient with management of discomfort, pain and side effects of previous treatment ( nausea from chemotherapy). Also nurses help educate both patient and family about what is happening. The nurse is a link connecting patient, family and physician. Home health aids provide extra support for personal care such as bathing, shaving, dressing and eating. Trained hospice volunteers offer assistance with everyday tasks such as shopping, babysitting, and carpooling. They are being available to listen to the patients and families and offer compassionate support. Primary doctor approves plan of care for hospice patient and works with hospice team. A hospice medical director who has expertise in symptom management and end-of-life care is available to the attending physician, patient and family, and hospice team as a great resource and consultant. Chaplains, priests, or other spiritual counselors help patient and family explore the meaning of the death, and perform religious ceremony specific to the patient. Respite care can be provided by inpatient hospice to give family a break from stress of care giving in up to 5-day periods. This service recognizes the need for caregivers to have time away from caretaking roles (Ingleton, Payne, Nolan, & Carey, 2003;Lattanzi-Licht e. l. , 1998). Terms such as caregiver burden (Chwalisz & Kisler, 1995), caretaker role fatigue, spousal burnout, and role engulfment refer to an imbalance between the physical and mental resources needed to give care and those available within the family unit (Reese & Sontag, 2001). Regularly scheduled family conferences most often led by the hospice nurse or social worker allow patient and family members share feelings, talk about what to expect, what is needed, and learn about process of dying. The interdisciplinary team coordinates Avera McKennan Hospice services and supervises al care 7 days a week, 24 hours a day. The team is making sure that current information is shared among all the services involved in patients care. Official Community Government (form of government). For-profit and nonprofit hospices have the same regulations. They must comply with State low and Code of Federal Regulations governing hospice care. For-profit hospices grow more than six times faster than nonprofit hospices. Profit sometimes risks compromising the quality of care patients receive. Nonprofit hospices provide hospice services to anyone including persons who do not have health insurance coverage and cannot afford to pay for care. In this case, nonprofit hospice can provide services to person free of charge as part of its charitable mission because nonprofit status of the hospice requires it to offer charitable services and they are dedicated to the mission of caring those in need. Main purpose of for-profit hospices is to make money and pay dividends to their stockholders. They have no obligation to provide services to anyone who does not have Medicare, Medicaid or private insurance coverage. However, both type of hospices are trying to make money, but when they compete for patients, they must provide better care. AveraÃ¢â¬â¢s Home hospice services are covered 100% under Medicare and some Medicaid plans, but inpatient care at the Dougherty Hospice House involve some financial expense. Social workers offer patients and their families help with payment options and never turn away a patient for inability to pay for the service. Medicare is the primary payer for hospice services covering 77% of all hospice expenses. The rest is paid for by Medicaid (4%), private insurance (12%) or other sources (7%). Compare to hospital and skilled nursing facilities, hospice is considered a cost-effective service. Hospice charges per day are much lower than hospitals and skilled nursing facilities. Hospice care is covered in full by most insurance. Medicare and Medicaid provide a special Hospice Benefit. This benefit provides 100% coverage for visit by staff, medications related to the hospice illness, durable medical equipment in the home, and supplies for skin care, incontinence management, dressings, etc. Hospice care covered under Medicare includes both inpatient care when needed, and home care services. The focus of hospice is on care, emphasizing help the person to make the most of each day by providing comfort and pain relief. Most private insurance companies include hospice care as a benefit. Patient and family can hire hospice providers and pay for their services out of pocket. If patient has a limited financial resources, non-profit hospices provide services without charge as part of charitable mission. Any patient who enters hospice must be evaluated at the time of admission to the hospice program. Hospice dietitians assist the patient in reaching the best nutritional goals, depending on the current state of the patientÃ¢â¬â¢s condition. Common problems for hospice patients are nausea and vomiting. These can be controlled with anti-emetics in some cases, while for some patient s change of diet is sufficient. Educating patient and family about the changes occurring in the patientÃ¢â¬â¢s body is imperative. During the course of illness, patient experience changes to some extend in their food intake. It is common for the hospital patient to reduce oral intake of food and fluids as the disease progresses. In general, there is metabolism alterations occur in patientÃ¢â¬â¢s body with a terminal illness. Furthermore, there comes a time when the body begins to break cells down instead of building them up. At this point, the body is no longer takes nutrients in. Sometimes patients are forced to take food by family members; in this case the body may refuse through vomiting or diarrhea. A hospice dietitian will explain when this point is reached. However, addressing to stop oral intake before this point is reached is not appropriate. Ongoing assessment of hospice patient nutritional needs will help to determine if there is any appetite change or ability to take the food in and keep it. Based on a study of the non-hospice end-of-life experience of 3,357 seriously ill patients who died reported 40% were in severe pain prior to their death, and 25% experienced moderate to great anxiety of depression before they died (Lynn, 1997). However, hospice is a compassionate way to deliver health care and supportive services. Despite the low South DakotaÃ¢â¬â¢s death rate compare the national death rate, the two leading causes of death are heart disease and cancer, accounted for half of South Dakota deaths. Healthy lifestyle changes are critical in reducing deaths due to cancer and heart disease. These modifications can be accomplished by reducing tobacco use, increasing physical activity, and developing healthy eating habits. Minorities in South Dakota include African American, Asian, and Hispanic populations. In general, language barriers, transportation, finances, and lack of insurance were found to be the issues encountered by minorities in seeking adequate health care. Furthermore, end of life care is not reach minority population and remains as a national issue. The majority of hospice patient care is provided in the place patient calls Ã¢â¬Å"homeÃ¢â¬ . In addition to private residences, this includes nursing homes and assisted living facilities. As the health care becomes better, the population lives longer. Nursing home patients benefit from hospice services as much as people living in their homes. According to studies, nursing home residents enrolled in hospice were less likely to be hospitalized in the final 30 days of their life (24% vs. 44%) (Miller, 2001). They were more likely to be assessed for pain, were twice as likely to receive pain management within clinical guidelines (Miller, 2004). Large percentage of elderly people receives home hospice service. Many homes need some modifications for the hospice services to be provided. For example, a bedroom may need to be relocated to a main level of the house for those who have difficulties claiming stairs. There is widening of the hallways may be required to accommodate a wheelchair access. Because of the growing number of people who wish to stay and receive care at home, general contractors are available to assess remodeling needs. A number of programs and sources provide reduced rates, loans, or free services with home modifications.
Thursday, January 9, 2020
Sample details Pages: 9 Words: 2671 Downloads: 5 Date added: 2017/06/26 Category Finance Essay Type Research paper Did you like this example? INTRODUCTION Principal-Agent Relationships for Investment Purposes Principal-Agent relationships occur in many forms in business. Understanding these relationships is crucial for investors in order to make better investment decision. Theory of Principal-Agent Relationships The relationships between and among multiple stakeholders is complicated and provides many opportunities for one party to gain at the expense of another party. The Theory of Principal-Agent Relationships recognizes that there can be friction between relationships when one person acts for someone else. DonÃ¢â¬â¢t waste time! Our writers will create an original "Analysis Impact Of Principal Agency Relationship Finance Essay" essay for you Create order Principal-Agency Relationships Defined Agency Theory refers to analyses associate with the Principal-Agent Relationship which occurs whenever one person acts in the interests of another. Many situations create a principal-agent relationship between two people. Explicit relationships include those situations where one person acts in the interests of another through contractual agreements. For example, when owners of a corporation hire a manager to run the company using his/her expertise and experience, a formal contract is created where the managers act in the interests of the owners in exchange for compensation such as a salary, stocks, and even perquisites. Some principal-agent relationships do not operate formally but exist as though there is agency. For example, employees and managers in a corporation do not have a formal agency relationship. This is because the managers do not themselves compensate the employees for working on behalf of the managers. However, at some point in their relationship, the managers must rely on the employees without monitoring them all the time. This relationship can still be defined and governed by theories of agency (www.brighthub.com) BACKGROUND AND ANALYSIS Principal-Agent Relationships and the Conflicts That Can Arise Within Them Principal-Agent Relationships exist whenever one person or party works in the interests of another party. Some of these relationships arise through obligatory contractual relationships and some can be informal or even hidden relationships that only reveal themselves at a point in the future. The set of contracts model of Modern Corporation demonstrates that many stakeholders are affected, both formally and informally, by the corporate body. One of the moral problems managers of a firm face is which stakeholders to satisfy to keep the corporation profitable while at the same time remaining cognizant of the ethical dilemmas of maximizing shareholder wealth to the detriment of other stakeholders. Is the primary purpose of the principal-agent relationship to take into account only the owners interests? What would the owners think of reducing shareholder wealth to satisfy moral obligations to other stakeholders? The principle of self-interested behavior states that the managers of a firm will act in their own self-interest (www.brighthub.com). What happens when acting in their own self-interest creates moral problems to both stockholders and stakeholders? An Example of Principal-Agent Conflict Suppose a company enjoyed a particularly profitable quarter with record sales and retention of a large amount of cash from normal operations. This windfall is the direct result of the employees, the owners agents, who worked hard to maximize corporate and, consequently, shareholder wealth. The managers of the firm must decide what is the best use for the extra cash lying around as a liquid asset? The managers have decided that the money should be used for one of two purposes: employee wage increases to reward the hard work that created the extra income or a payment of a large dividend to the shareholders as a reward for investing the capital necessary to make the extra income. The principle of self interested behavior would suggest that the stockholders would want the dividend option since it means more wealth for them. Employees, however, would prefer the wage increases for the same reason. The self-interest principle would also suggest that the managers making the decision would want the wage increases because it would mean more money in their pockets. This example illustrates the conflicts that can arise in principal-agent relationships. In fact, imagine that as and incentive to make the firm as profitable as possible, part of the managers compensation package includes shares of stock in the firm. The complexity of agency theory becomes clearer still because the managers will benefit from either a wage increase or a dividend distribution. The shrewd manager will do a little calculating to determine which alternative or combination of the two alternatives will maximize his/her self-interest (www.brighthub.com). Characteristics One of the most important characteristics of Islamic financing is that it is an asset-backed financing. As compare to conventional financing, the banks and financial institutions normally deal in money and monetary papers. In Islam, however, money should not be used as a subject matter of trade to generate profit (except in some special cases); rather it is only a medium of exchange. Thus, profit is generated when something is sold for money or when different currencies are exchanged, one for another. The profit earned through dealing in money (of the same currency) or the papers representing money is considered as interest (riba) and therefore prohibited. Consequently, unlike conventional financial institution, financing in Islam is always based on illiquid assets which create real assets and inventories. Looking into this perspective, of course, the most suitable and ideal instruments of financing in Shariah are musharakah and mudarabah. Under these two instruments, the money contributed by the financier is converted into the assets having intrinsic utility. Thus, profits are generated through the sale or trading of these real assets. Similarly, financing on the basis of salam and istisna also creates real assets. The financier in the case of Salam receives real goods and makes profit by selling them in the market. In the same way istisna financing also created real assets through manufacturing process, in which the financier earns profits. Financial leases (ijarah), murabahah and bay bithaman ajil, however, are not originally modes of financing in the Shariah (www.hijrahmedia.com). But, in order to meet some needs, these instruments have been restructure in a manner that they can be used as Islamic financing methods, in the sectors where musharakah, mudarabah, salam or istisna are not workable due to some reasons or another. Several western scholars have argued about remarkable shift in Islamic banking practices from the theory This argument came actually from Islamic economists. The problem is that they and their Western imitators put the carriage before the horse. They theorized a model that turned out to be unrealistic and inconsistent with financial intermediation. The Model they theorized is the two-tier Mudarabah but the practice used Murabahah and leasing on the use of funds side of the banking transactions. Both modes are more consistent with financial intermediation while Mudarabah is more of a venture capital approach rather than financial intermediation process. Obviously Mudarabah succeeded on the funds mobilization side, in investment deposits because banks are regulated financial institutions, businesses are different. This means that the theory was wrong. Yet many Islamic economists stick to it in a dogmatic manner because they accuse Murabahah to be less Islamic. This struggle is apparent in the five-year discussion of the newly adopted law of an Islamic banking in Kuwait. The law final ly went along with permitting the Islamic bank to enter directly in business venture on its own initiative. In spite of the restrictions and the discretionary authority the central bank may exercise, this approach loosen specialization and allow the Islamic bank to compete with business and to have its own stores for goods and services instead of remaining a financial intermediary only (www.financeinislam.com). FINDINGS Mudarabah is essentially an agreement between a financier and an entrepreneur the principals. However, taking account of the modern social structure and context, the pioneers of Islamic banking brought in an intermediary between the principals and created a two-tier mudaraba. This modified form of mudaraba was introduced into conventional commercial banking in the form of profit-and-loss-sharing (PLS) investment accounts and financing arrangements. The earned profit (which is an uncertain and unpredictable return on capital) was to replace the interest (a pre-determined fixed return) in the conventional setting. This, however, was not acceptable to the conventional banking authorities (www.islamicbanking.nl). Therefore, except in a few countries where rules were relaxed or special banking laws were enacted, it was not possible to establish and operate Islamic banks in most countries of the world. In such countries Islamic financial institutions, which did not come under deposit ban k regulations, were introduced. In both cases, while the deposit/investment side worked on mudaraba basis, mudaraba was only one of several modes used for financing. Though a preferred one in theory, in practice it became one of the least used. The most used forms are modes of trade, and this has led to questions of morality and ethics. In addition, Islamic banks are unable to provide all the financing services expected of a commercial bank (ÃâÃ ¾ÃâÃ ¾, Commercial Banking in the presence of Inflation: 1999). In Islam, there is a clear difference between lending and investing ÃâÃ ¾ lending can be done only on the basis of zero interest and capital guarantee, and investing only on the basis of mudaraba. Conventional banking does not ÃâÃ ¾ and need not ÃâÃ ¾ make this differentiation. But a system catering to Muslims has to take this into consideration and ÃÆ'Ã ¢Ã ¢Ã¢â¬Å¡Ã ¬ÃâÃ ¦provide for two sub-systems ÃâÃ ¾ one to cater to those who would lend a nd another for those who wish to invest. The first sub-system would cater to those who wish to put their money into a bank for safety and transaction convenience; and the bank would provide all current account facilities and short-term loans and advances (Saleh, Nabil A., 1986). ISSUES, CHALLENGES AND PROBLEMS Issues in implementation The implementation of this system requires the cultivation of new attitudes on the part of all the participants. This is a tall order but is an absolute necessity if we are to create a truly riba-free economy. It requires more from each participant, but it also offers more both to the individual and to the society as a whole. From the investor it requires the full understanding that he/she/it may incur loss and that he will have to wait longer to know the results, but it promises a truly riba-free income and possibly better profits. From the entrepreneur it requires complete and accurate bookkeeping and full disclosure of all his/her/its accounts and the sharing of his bounty with his financiers, but it provides him with capital without collateral and the guarantee that in case there is a loss he will not be required to make it up, provided he had been honest in his dealings and his books will substantiate it. The intermediary is both a banker and an entrepreneur. As an entrepreneu r, he too is required to be honest in his dealings, and accurate and transparent as to his bookkeeping and accounts (www.islamicbanking.nl). Bankers are trained to be very cautious, because their first concern is to guarantee the safety of the funds deposited with them. But in this system they are relieved of that concern because the investors have agreed to take the risk, and therefore if they persist with the bankers attitude they will miss many opportunities at the investors expense. On the other hand, too much adventurism can bring about low profits or even loss, and that may lead to the loss of customers. They must have an entrepreneurs natural talent to spot profitable projects and to avoid bad ones, and should develop it into a professional tool. The intermediarys staff will have to be carefully picked and trained to bring out inherent entrepreneurial talent. Such intermediaries will have ample reward, as they will share in the profits. It requires a new culture, a culture of entrepreneur-financiers and of professionally run partnership companies. The system is heavily dependent on proper and accurate bookkeeping, accounting and auditing. That requires the availability of trained bookkeepers and their wide use, as well as professionally responsible and well-trained accountants and auditors. They are the bedrock of the system. The system requires a high level of integrity from these personnel, and it is in the interest of all the participants in the system to respect it. Substantial investment is necessary in the training of such personnel, and legal protection is necessary to safeguard the independence of the auditors. The comprehensive system presented in the four books groups the entire spectrum of business activities into three broad categories: at one end is the one-man-owned-and-operated small enterprises, including the ones financed or supported by loans and advances from commercial banks, and at the other end are the large enterprises fi nanced entirely by shareholders and managed by professionals. In between are the proposed participatory-financed enterprises. The size of the enterprise is an important factor in this categorisation, and the type of financing and the type of organisation must generally match the size. Presently in all developing countries ÃâÃ ¾ to which group most of the Muslim economies belong ÃâÃ ¾ the distribution is highly skewed towards the smaller end. To achieve a better and stable economy, it is necessary to bring about a more even distribution (www.islamicbanking.nl). The mudaraba principle is applicable to a range of situations, from a simple local two-person partnership to a multiparty international corporation. A shareholder company works essentially on the mudaraba principle. But the participatory financing scheme envisaged in this article aims at the middle section of this range. It brings in the intermediary, and provides the investors with a unit trust type of investment o pportunity. The scheme is ideally suited to medium scale new enterprises. However, it is possible to modify it slightly and bring in some of the running businesses too into the participatory financing system. The enterprise is a running business and has debts owing to, say, a commercial bank. In this case, the investment bank/company will pay up all the debts and go into partnership with the enterprise, as in the first case, with this amount as its capital contribution (Yasseri, Ali, 2000). In establishing the new institution of mudaraba-based investment and finance, using the participatory financing scheme as described above, it is preferable to start with medium size running businesses. This will provide a stable base for the new institution to test the theory and to gain experience. CONCLUSION Principal-Agent Relationships range from the simple to the complex. In corporations, the set of contracts view of the firm illustrates the complexity of multiple agency relationships across many stakeholders. When an investor values a firm, the evaluation always takes into account the risk associated with the separation of ownership and control. Investors must ask: what assurances are in place to make certain agents in the firm are working for the best interest of the owned. In order to bring about a riba-free economy, the countrys banking system has to be riba-free, its commercial enterprises have to be financed by equity capital, and its investments have to be on a profit and loss sharing basis. This article has dealt with investment and financing, and has introduced a mudaraba-based system called participatory financing that takes into account present-day realities. This is a new institution specifically developed to address the concerns of Muslims. It has no parallel in the conventional economy, but the individual tools and techniques it uses are ones tested and proved in the conventional setting. Thus, while re-invention of the wheel has been avoided, proving the viability of the new institution and benefiting from it are challenges specific to Muslims. It is for the Muslim intellectuals, professionals, investors, entrepreneurs, and other concerned individuals, institutions and organisations to take up the challenge. Conflicts arise in Principal-Agent relationships when alternatives faced by the agent can affect his/her own personal interests. Some principals go to great lengths to monitor and limit the power of agents to ensure that the principals interests are properly adhered to. However, it is nearly impossible to monitor and limit the agent to a point where no conflicts are possible. In addition, these steps taken by the principal may limit the agent so much that he/she can not ensure that the interests of the principal are acted upon in a man ner where positive outcomes are maximized.
Wednesday, January 1, 2020
Montgomery County Correctional Facility (MCCF) abides by a Ã¢â¬Å"no contactÃ¢â¬ policy that prevents all citizens detained from being able to physically touch any visitors they receive. This policy is even more restrictive than usual because all visitation must be conducted through Plexiglas windows, using phones to communicate. The Collaboration CouncilÃ¢â¬â¢s Creating Healthy Bonds (CHB) program is focused on building the relationships of families affected by incarceration. As it stands, the facilityÃ¢â¬â¢s visitation policy operates conversely to best practices, making it both a literal and figurative barrier to CHB meeting its goals. In short, MCCF needs a policy change. Research Attachment theory research indicates that, Ã¢â¬Å"many children affected byÃ¢â¬ ¦show more contentÃ¢â¬ ¦Each of these studies found that rates of recidivism decreased as family ties strengthened through increased number and quality of visits and participation in specifically designed programming. However, stressful and strict visitation policies cause in-person visitations to have negative effects. Such policies for child visits include: visits behind Plexiglas, children being frisked, harsh treatment for correctional officers, and no-contact visits. One scholar argues that, Ã¢â¬Å"the way the prison imposes on familiesÃ¢â¬â¢ lives is a form of secondary prisonization, a weakened but still compelling version of the elaborate regulations, concentrated surveillance, and corporeal confinement governing the lives of ensnared felons.Ã¢â¬ In summation, restrictive visitation policies do not support Ã¢â¬Å"the close contact that could reassure children of parental availability,Ã¢â¬ and thus can further damage parent-child attachments, making them even less secure. Finally, it is important to note that the Social Services Administration, family courts, and foster children have their own unique needs with regards to parental visitation. Historically, courts have typically terminated the guardianship of an incarcerated parent for three main reasons: (1) abandonment, (2) the nature of the felony conviction, and (3) the length of time in foster care. However, many states have sinceShow MoreRelatedExamine Research on Applications of Life Span Psychology on the Children Defense Fund Program1254 Words Ã |Ã 6 Pageslifespan psychology to create applications that strengthen public policy and programs. The program selected for this assignment is the Children defense fund program. The Children Defense fund is a nationwide organization put in place to ensure that every child is treated fair and has an effective and promising start in life, regardless of their race, background or disability. 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Next, the barriers that prevent open visitation and the implications for practice will be acknowledgedRead MoreCurrent Open Visitation Practices Within The Critical Care Setting978 Words Ã |Ã 4 Pagesprovide a contextual overview of the current open visitation practices within the critical care setting. The introduction will begin by highlighting the American Association of Critical-Care NursesÃ¢â¬â¢ and Canadian Association of Critical Care NursesÃ¢â¬â¢ support for open visitation practices and include the argument that unrestrictive family presences is indicative of patient- and family-centered care. Next, the barriers that prevent open visitation and the implications for practice will be acknowledgedRead MoreThe On Ball State University1321 Words Ã |Ã 6 Pageswith a lot of well-thought-out policies. Since 1918, Ball State has maintained a well-organized university, which is impressive when you consider the large enrollment number. However, one policy that Ball State could improve is the visitation policy. The current visitation policy is generally one of the biggest criticisms with Ball State, and for good reason. The current policy does not permit guests over in the dorms past midnight on weeknights. The reason why the policy is a problem is because it hindersRead MoreAnalysis Of The Children And Youth Agency727 Words Ã |Ã 3 PagesSelect a policy or practice that interests you at your internship site. The policy and/or practice, I will be focusing my policy analysis is a state law implemented by the Children and Youth Agency: Ã § 3130.68. Visiting and communication policies. This is a section from the Chapter 3130, Administration of County Children and Youth Social Service Programs pertaining to visitation between the parents and the child that the agency provides. Describe the policy or practice clearly. This PennsylvaniaRead MoreCollege Is Not Only Just A Time For Education880 Words Ã |Ã 4 Pageselsewhere. 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