Opportunities & Threats in Gold & Oil Investments Research Paper

Opportunities & Threats in Gold & Oil Investments - Research Paper Example According to the research findings with the ever increasing uncertainties regarding the overall global economic and fiscal outlook, the investment strategies have also experienced some major changes. It is actually belief and confidence of the people that changes as the time and situation changes. As a result, the real value of the investment changes with the perception of the people. The real worth or substance remains the same, however, the other party to the transaction perceives it to be either on a higher side, lower side or at a stable level. In short, the substance of the investment remains the same but what actually changes is the worth of that investment in the eyes of other person as per his/her perception, belief and confidence. The change in the perception of the people leads to the change in the worth of the investment as a result the investors actually face a risk that their investments can experience significant fluctuations associated with the unpredictable behavior o f the people. Over the years, there have been different patterns and trends that represent the psyche of the people regarding the riskiness of different types of investments. From bonds to stocks, commodities to metals, currencies to real estates, each different class has different sorts of risks associated with it. The risk appetite of individual investors also varies which in turn contributes significantly in the variation of the values of the investments. (Fabozzi, Gupta & Markowitz, 2002). The above mentioned asset classes can be broadly split into two categories namely as paper money investment and real substance based investment. For instance, currencies, bonds, stocks are considered as paper money as the investor ultimately do not acquire a physical substance or matter when he or she purchases investment. For example, by buying some shares of a company cannot actually allow a common stockholder towards entitling a specific asset of the company. Similarly the bonds or other pa per money instruments do not allow entitlement to the investors on a particular asset of the issuer of that instrument. On the other hand, the non-paper money instruments provide a possession of the investment in the form of goods, property or any other physical substance. The term â€Å"physical delivery† for these kinds of investments is vastly associated as they entitle the investor for the taking the actual physical delivery of the form of their goods (Shefrin & Statman, 2000). For instance, in case of metals, gold, silver or platinum, the physical delivery is possible and the investor can keep the possession of the metals with himself. Similarly, in case of real estate property, the investor can actually take the possession of a particular property after transferring the property documents. The above two categories of investments have some specific risks associated with them due to which the non-paper money based investments are considered as safe heavens for the investo rs as the investor enjoys the possession of those investments and later on can make the use of those goods for his/her personal needs unlike paper money investments which are intended to be returned to other investors or the issuers of those investments because they cannot be used for personal needs. On the basis of usage or consumption as well as holding the possession of those investments, this particular assignment deals with the opportunities and threats that rest with the investments that are movable in nature (FinanceSpain, 2012). Particularly the investment in gold and oil are highlighted in the discussion. Gold is a precious metal which is the most highly recognized and consumed metal especially used in the jewelry and ornaments. Oil is the commodity which is used as an energy resource for varieties of different purposes. Both of these investment classes have distinct opportunities and threats which are discussed separately in further sections. The first section emphasizes o n the opportunities

Corrective And Preventive Action In Quality Management Information Technology Essay

Corrective And Preventive Action In Quality Management Information Technology Essay CAPA is an important Quality tool in the pharmaceutical industry. CAPA is defined as the corrective action and the preventive action. A corrective action is a change implemented to address a weakness identified in a management system whereas the preventive action is The action to eliminate the cause of a potential nonconformity or other undesirable potential situation. Management plays a key role in the successful implementation of the CAPA system for achieving the high quality pharmaceutical products. It helps the management to identify the problem that arises in the system and helps the administration to come up with the innovative ideas to improve the quality of the product.This Document discusses the Obstacles for achieving the integrated CAPA compliance, quality system CAPA procedure, Flow chart for implementing the CAPA system, phases of the CAPA system, benefits of the CAPA system .. In this stage of the CAPA process there must be the problem that has been identified, defined and documented. The documentation should completely explain about how the information has been gathered and it also should have the proof for the existing problem. In the appraisal stage the quality personnel member of the CAPA case will need to determine the impact of the quality on the companys overall quality management system which include cost, function, safety, quality etc.. The determination regarding impact should include the risk to the customers as well as risk to the employers. Once the impact and the risks are identified then the seriousness is determined. Based upon the companies long term experience the companies will associate the varying degree of the seriousness based upon which the necessary corrective and preventive actions will be taken. DISCOVERY:- Phase-3 discovery phase commences only when the remedial action does not solve the problem during phase-2 or when a long term action is required then the phase-3 action commences. Discovery phase is also called as the investigation phase and before the investigation commences specific goals are set in a manner such that these goals are accomplished before the phase-6.For accomplishing these goals specific strategy is developed which includes specific strategy for determining the contributing and root cause of the problem. It also include all specific circumstances related to the problem which include training, software, external factors, procedures, personnel, materials and equipment. EXAMINATION:- During the examination phase rooting out of the problem takes place after determining the possible and probable causes of the problem and data has been collected to refute these problems. The data that has been collected during this stage has been organized and documented .The sources for the examination phase can be from the testing results and review of the records, processes, service information, design control, operations which helps in determining the root cause of the problem. All the information is collected, organized and documented in readable form. ACTION AND IMPELMENTATION:- During this phase the REAL LIFE of the CAPA takes place. In this stage the investigator has to determine the root cause of the problem and he or she has to develop the methodology that prevents the problem to occur further. All the incidents in this stage are documented and for the successful implementation of this stage a successful CAPA SOFTWARE has been introduced which not only save the time and money but also keeps the records for the long term usage for tracking how the problem has been resolved. OBSTACLES FOR ACHEVING INTEGRATED CAPA COMPLIANCE:- CAPA management is an important part of the regulatory requirement which helps in reducing the liability, increases the customer satisfaction, helps in the reduction of the financial losses and strengthens the companys reputation. To achieve the maximum benefits from the CAPA, it must be an integral part of the enterprise compliance and quality management system(ECQM) which helps in the collection of the data on the existing problem, investigators will analyze the potential data, digs out the root cause of the problem, addresses the issues and follows the procedures to avoid the similar problem in the future and documents the entire process. CAPA can be effective only when it is an integral part of the companys culture. However they were many obstacles which prevents for achieving a truly integrated quality management system. Among those are the 1-DISPARATE SYSTEMS:- CAPA compliance is included in companys standard operating procedures however it is difficult to achieve the process with systems that most companies have. They are different programs that dont interface with each other, homegrown systems that dont have universal recognition, delaying the resolution of the quality issues and clouding the compliance picture. 2-LAX DOCUMENTATION:- Companies should require the centralized control without which the documentation chain required by the regulatory agencies is frequently broken. Companies should document their CAPA procedures without which the FDA will not know the CAPA requirements have been fulfilled. 3-COMMUNICATION BARRIERS BETWEEN CULTURES AND SPECILATIES:- Employees working in the company dont speak the same language, literally. In addition the terms that an engineer uses to describe a quality system may be different from that marketing manager or the compliance officer. 4-LACK OF TRAINING:- Majority of the employees that are working in the compliance issues are not well trained.so the Employees who are working in the quality management do not know, understand and take the responsibility as their role as the quality management. 5-DISCONNECT AMONG BUSINESS UNITS:- CAPA management is frequently seen as a job for the quality management but not as a concern in which production, RD, marketing or other departments which should be involved. 6-NON COLLECTION OF TRENDING DATA OR DATA NOT READILY AVAILABLE TO APPROPRIATE PERSONNEL:- Without the integrated ECQM, most departments keep the records on their own systems without which the company management cannot see the Companies compliance picture. Without this vision, the management cannot predict and prevent possible deficiency to meet the CAPA regulations. 7-SEEKING A QUICK FIX VERSUS SEEKING TO CORRECT THE ROOT CAUSE:- Companies generally focus on the product and the material issues rather than reaching below the surface to identify and address quality concerns. It results on focusing on product problems rather than on the systemic issues which prevents them to correct a root problem. However getting to the root cause is main aim of the CAPA. TRUE CAPA implementation is to identify and correct the problem by putting practices to prevent the future issues which require the integration and flow of information freely among companies various departments and locations. Five steps for success of CAPA system:- 1. Companies should implement an effective quality management system for tracking and logging the events utilizing centralized software system which helps in determining the root cause and implement an effective CAPA system. Moreover it also helps in the reduction on the boundaries between various departments. 2. Companies should implement an effective comprehensive investigation and root cause analysis which helps in developing the effective corrective and preventive action. 3. Accountability is maintained through notification and escalation procedures by utilizing the automated and the on the demand reporting. Communication helps in the resolution of the events in the timely manner whereas notification helps the management know where exactly the record is in and who is working on it. Notifications are approved to key personnel via record origination, record assignment, task completion and record approval. An escalation procedure helps in ensuring the key personnel about the dates approach and priority management responsible tool to the particular parties. 4. Easy accessibility of the Records, Notification and reports helps all the key personnel in the immediate response of the resolution process. Web based system also helps in to log in into QUALITY MANAGEMENT SYSTEM from any location which helps in quick response. 5. Effective checks are conducted to measure how well the CAPA plan worked Post implementation. A well-defined planning is essential for the elimination of the recurring events. This system helps in creating and assigning the effectiveness of the check records for each CAPA plan. If the issue is resolved, a review is conducted in the final stage. Phases of CAPA system:- CAPA system plays an important role in the quality management system. CAPA consists of the four important phases.. Phase-1: Planning Planning for the Measurement, Analysis and Improvement Process Establish the Data Sources and the Criteria Phase2: Measurement and Analysis Customer survey Service Report Process Control Complaints Supplier performance Return Product Supplier Performance Quality Audit Measurement and Analysis Phase-3 Improvement Identify the Action Identify the Root Cause Investigate Verification Of identified Action Implement Action Determine Effectiveness of Implemented Action Reporting to Management Management Review Phase 4 Input Management Sample CAPA Process Flow Factory Distributor Customer Data Corrective Action Request CRA Remediation Action RMA CAPA Completed No Action Needed CAPA Needed Root cause analysis and Corrective Action TASK Effective No YES CLOSE Requirements of Corrective and Preventive action (21 CFR 820, Subpart J) (1) For the corrective and preventive action, manufacturer should create and maintain the procedure and this procedure include some requirements for:- a) Service record complaints, Audit report of quality, records of quality, and operations of work, quality data sources to justify the obtainable and possible cause of original product. For detection of returning quality problems, this type of statistical methodology should be employed b) For the product, processes, and the system of quality, consider the cause of non-fulfillment of requirement. c) For the reappearance of unusual product and problem related to quality, recognize the corrective and preventive action. d) To decide the recognized corrective and preventive action is successful and has no adverse effect on finished devices; validate that corrective and preventive action. e) For correct and prevent recognized problem of quality it is necessary to implementing and recording the changes in method and procedure. f) Decide that information which are related to the problem of quality which is circulated and directly responsible to give surety such product quality for avoid of such problem. g) For review of Management, submit the corrective and preventive action and information of recognized problem of quality. (2) All actions necessary under this section, and their results should be documented Benefits and futures of CAPA (Fig -1- Benefits and Future of CAPA) 1.COST EFFECTIVE:-Many organizations do not implement a robust CAPA process because of its high cost.so CAPA is tracked by simple spreadsheets and home grown database which do not require full CAPA requirements. Where as Ready CAPA provides an application to meet quality management at an affordable price. 2. COMPLETE VALIDATION PACKAGE:-It is the part of the READY CAPA which ensures that the application is ready to use in days versus weeks 3. WORK FLOW APPROACH:-READY-CAPA enables to know that issues are tracked completely to resolution. CAPA helps in deciding the issues related to the problem and helps in solving and easily documented. It also helps in deciding the progress of the CAPA. 4.REGULATORY COMPLIANCE:-The procedures and policies followed by the companies must meet the regulatory compliance which includes the identification of the interphase system, constructed and tested the documents and policies and procedures. 5.CLOSED LOOP CAPA PROCESS:-It is implemented by the Ready CAPA electronic work flow. This helps in identifying the issues ,investigating the cause, action planning for the corrective and preventive action, implementing the actions, verifying the quality assurance approval, monitoring the periodic challenge option and closing 6. Closed loop CAPA helps to reduce the loss of data. 7. Closed loop CAPA management helps in providing the controlled environment. 8. CAPA helps in increasing the product quality by reducing the product cost and cycle time. Conclusion:- Now a days Quality has become an important issue in the pharmaceutical Industry. CAPA plays an important role in achieving the high quality of the pharmaceutical products. Many pharmaceutical companies are implementing the CAPA system which helps in reduction of the cost as well as improve the quality of the product. For the successful implementation of the CAPA, there should be a well-trained knowledgeable operator. The main aim of the CAPA is to identify the Root Cause of the problem and provide a solution to the problem that does not occur repetitively. Manufacturers when implementing the corrective and preventive actions must comply with the ISO standards for achieving the high quality. Management plays a key role in the successful implementation of the CAPA in the company for achieving the high quality of the product. Thus this document provides the guidance for the successful implementation of the CAPA.

Mans Discovery Of Fossil Fuels Could Be His Downfall. Discus Essay

Throughout the entire history of mankind, the technological advancements that civilisations have made have always been tied in with the development of energy sources. The first human energy technology was fire, along with human labour as the major energy source. This has bee supplemented by animals for agriculture and transportation since at least the dawn of agriculture some 10,000 years ago. Wind and waterpower for milling grain have also been used nearly as long. The development of the steam engine by George Stephenson in the late 1700’s was the technological breakthrough that led to the industrial revolution. For the first time in human history transportation could be provided without the use of domesticated animals. Steam engines were used in steam locomotives, steam tractors and steam ships (B.Nebel and R.Wright 1995). Stationary steam engines were rapidly established in all the major industries. The major fuel for steam engines was firewood. By the end of the 1800’s, the demand for energy was ever increasing and firewood around industrial centres was becoming scarce. This led to a switch to coal as the major source for fuel and energy. As well as powering steam engines coal became widely used for heating, cooking and industrial processes. Air pollution during the Industrial revolution was far worse than anything seen today. Apart from the smoke and fumes obscuring visibility, they also caused major health problems to the inhabitants of the industrial areas reducing life expectancies, predominantly with respiratory diseases. The simultaneous development of the internal combustion engine, well drilling technology and the capacity to refine crude oil into gasoline and other liquid fuels (B. Nebel et al 1995) in the late 1880’s, produced an alternative to steam power. Air pollution was greatly reduced as coal-fired steam engines and gasoline and diesel engines, and fuel oil furnaces replaced furnaces. Due to the length of time it takes to change from one energy technology to another, it was not until the late 1940’s that oil surpassed coal as the worlds major energy source. World oil use peaked in 1979 when daily production passed 66 million barrels per day (W.Cunningham et al 1993). This was not without problems however. In 1973, the recognition of the increasing dependence of industrialised nations on oil along ... ...nder normal conditions. Extraction of fossil fuels is a dirty and dangerous business, with associated diseases of workers and environmental pollution, such as dust from mining and spills from tankers transporting oil. As can be seen from the various points discussed, the civilisation that we inhabit today is very much dependent on fossil fuels, without them the level of technology that we take for granted today would not exist. The economical, political, social and environmental issued associated with them show the problems of mans dependence on them. With increasing worldwide demand, and declining supplies, every effort needs to be made by governments to find solutions to these problems. This has already started today, with developments in alternative energy sources such as nuclear power, which raises its own issues, and the move towards solar and other renewable energy sources. References Cunningham. W.P and Saigo B.W (1995). Environmental Science: A Global Concern. W.C.B, Bubuque. Nebel B.J and Wright R.T (1993). Environmental Science. Prentice Hall, New Jersey. Pickering K.T and Owen L.A (1995). An Introduction to Global Environmental Issues. Routledge, London and New York.

Changing Learning Styles in the Light of New Educational Technology Essay

Over the last twenty years technology is guiding our lifestyle, i. e. how we should live, how should we communicate and also how one shall learn. Discoll (2000) defines learning as â€Å"a persisting change in human performance or performance potential which must come about as a result of the learner’s experience and interaction with the world. † In other words learning is defined as lasting changed state (emotional, mental physiological- skills) brought about as a result of experiences and interactions with the content or people. This definition holds the notion that gaining knowledge is an objective of learning (or a style) that is attainable if not already innate through either reasoning or experiences. It is known that learners create knowledge as they make attempts to understand their experience, as they are not empty vessels to be filled in with knowledge Instead learners are actively attempting to create meaning, they often select and pursue their own learning styles. Although it is believed that real life learning is messy and complex, but methods which emulate the fuzziness of this kind of learning is more effective for lifelong learning. Earlier the life of knowledge is measured in decades but today as knowledge is growing exponentially, and there we may have such fields where the life of knowledge is measured in months and weeks. Today what is known may become obsolete after few weeks. According to (ASTD) American Society of Training & Documentation the amount of knowledge in the world has doubled in the past 10 years and is doubling every 10 months as a result this is responsible for the shrinking half life of knowledge. It is believed that because of these trends in the development of knowledge formal education remains no more the ultimate source of learning, rather learners are switching on to a variety of sources like personal networks, communities of practice and personal experiences. As we can no longer personally experience and acquire learning that we need to act in this digital age making connections has become necessary to keep moving the learning theories. We may derive our learning, competence and expertise by forming connections with the experiences of others, as experience has long been considered the best teacher of knowledge, so here the quote â€Å"I store my knowledge in my friends mind† becomes an axiom for collecting knowledge by collecting people of varied experiences. Chaos is the new reality for the learners to attain knowledge, as with Chaos learners foster their understanding by deriving out the meaning of their task which has hidden patterns and their chaos unveil that meaning. Chaos as a science connects specialized communities and further it connects everything to anything. It recognises the adjacent patterns for new knowledge which is a key to learning. Since technology is getting advanced day by day thereby altering one brain, it further defines and shapes our thinking. In today knowledge economy it is necessary to form connection between the sources of information in order to develop useful informational patterns or a network, it can be computer or social networking which works on the simple principle that people groups systems nodes, entities all can be connected to create an integrated whole. This way sharing and exchanging of ideas may greatly lead to the notion of serendipity, innovation and creativity. In their new learning styles if students are connected to their teachers, their peers, and with other social groups through various networks. It may be possible that they come up with new ideologies and experiences which will result in the enhancement of their learning, researches in the past have indicated that cognitive (interactive and experimental) learning is the result of â€Å"Mental Construction† in a collaborative learning environment. It is believed that 1. Learning and knowledge rests in diversity of opinions. 2. Learning is a process of connecting specialized nodes (experts) or information sources. 3. Capacity to know more is more critical than what is currently known. 4. Nurturing and maintaining connective bonds is needed to facilitate continual learning. 5. An ability to seek connections between fields, ideas and concepts is a skilful learning. 6. Updated knowledge is the index of all learning activities. Learners change as the knowledge keeps on changing from time to time, learning styles acknowledges the tectonic shifts in society where learning is no longer an internal individualistic activity and learners no more permissive sponges. It requires us to rethink and redesign our learning styles for the digital age. This paper is an attempt to provide an insight into new form of learning style and tasks needed for learners to compete and flourish in this age. Connections based on small efforts of many with the large efforts of few, where flow of knowledge starts when the individual enters into his social network, add something from the global nodes comes back to him. Radio and television, print media are just a one way preposition, they push their contents to us, but the web is a two way push and pull. It connects the learners directly to the sources it can be live as on line and offline too. Web has the ability of two ways reciprocity, another important aspect of learning through web is that it is the medium that honours the notion of multiple intelligences as experts from all over the world are at an ease to contribute their knowledge at a single platform. Web has become a great tool for writers as they provide the learners learning with entertainment, it has multiple forms of intelligence abstract, textual, visual, musical social and kinaesthetic. Learning through web has a chance to construct a medium that enables all young people to become engaged in their ideal way of learning. The Web affords the match we need between a medium and how a particular person learns. One of the goal of Learner is to have course curricular to be offered in multiple formats – teach Led, CD- Rom, DVD, Video and internet , Mobile Phones, Spoken and written Information, Conferencing, Virtual Classrooms etc. The right technology used appropriately can greatly enhance the learning experience. The key to choosing the right technology to support learning is to match the technology to the learner and the learning context. E-learning has a two way benefit for learners, one to have professional lessons from the experts and to have the lessons available at anytime as online subject matter of different courses is being delivered over the internet, and is available for all learners. The most common function used in online learning style is electronic mail that allows students and teachers to send and receive messages along with attached files. In addition web conferencing capabilities let participants conduct multi-person discussions, either in real time (chats) online or off time, combination of technology with personal contact and support is optimal for pedagogy. If the faculty members of distant learning integrate technology into their teaching it will be of great help in mentoring and giving time to time support to the learners.

Global Warming Essay

Introduction Usually when people think of global warming they think of hotter weather. This is not necessarily correct. Global warming is not something that happens over one season but happens gradually overtime. The term global warming is a bit deceptive because it leads people to believe the temperatures will get hotter, this is not the case. Climate change impacts the hydrology and biology of our planet. This can cause stormier, dryer and even in some cases, colder weather. (Maria Trimarchi, 2014) Cultural Relativism When we think of global warming we typically just think about how the climate change is affecting our society. We do not stop and think how the changes affect other under-developed cultures. The article discusses how many under privileged countries die a lot sooner because of climate change. Something that developed countries would not see as quickly. (Sarah DeWeerdt, 2013) Understanding that the carbons and methane we use here in the United States not only affects our air quality and climate control but can have effects in Africa and other countries. The article discusses how the changes in weather from really dry heat to instant down pours of rain affects the agriculture. (Sarah DeWeerdt, 2013) This not only means the region experiencing this change is burdened by the increase and decrease in the climate, but countries doing import and export exchange is also affected. Ethiopia already experiences social and economical problems; climate change will make this country suffer even greater problems. National Geographic states the country already loses thousands of people a year due to effects from the climate. If global warming continues the effects would be catastrophic. (Alan Corbis, 2007) Mechanical Social Solidarity The term social solidarity refers to how a society unifies as a whole in aspects like interests, standards, objectives and sympathies. (Book Reference) Society can take a mechanical or organic approach to this philosophy. A mechanical solidarity society shows high emphasis on religion, society’s interest and has relatively low population rates. An example of this population group would be small tribes in Africa, Ethiopia and South America. Organic Solidarity is the complete opposite. They focus more on secular religion, material possessions, and high population and are human-oriented. The biggest example is America but you could also list China and Japan under this category. (Webster’s Dictionary) The article discusses how global warming is caused by omissions of carbon and methane into the atmosphere. (Sarah DeWeerdt, 2013) Our bigger organic solidarity societies are causing the global warming problems for the mechanical societies. It is unfortunate that we are not only ruining the environment for ourselves but we are also ruining it for innocent bystanders. Ethiopia being one of the poorest countries is being the most hurt by our materialist greed. They do not have the resources to even try and make a difference. Conflict Theory Conflict theories put emphasis on social, political, or material inequalities of a social group. Conflict theories draw attention to power differentials, such as class conflict and generally contrast historical ideologies. (Book reference) Understanding conflict theory is important to see how developed countries are hurting and hindering the development of under-developed countries. Until we draw a full understanding of this, a resolution cannot occur. The article discusses the differences and challenges under-developed countries face compared to developed countries. The risk of disease like Malaria is higher because of contamination and the inability to vaccinate. The United States faces mosquito problems but we do not have the issues of contaminated water. Plus our country also has vaccines to protect our  population unlike most parts of Africa and other countries. (Sarah DeWeerdt, 2013) The article discusses the dry temperatures will cause an increase in mosquitoes and the risk of contracting a disease from insects will increase. Vaccines are a concern but also the inability to control the insect contamination. Major countries have preventatives to control the reproduction of insects. Smaller countries do not have the means to control this growing problem. (Sarah DeWeerdt, 2013) If global warming continues to increase, so will the dangers all from all the effects. Conclusion Our planet as a whole must come up with a solution that protects everyone from the effects of global warming. The countries that pose a risk of losing the most are the ones that do not have the resources to contribute much to the solution. These are also the countries that do not contribute to the problem. Generating lower carbon and methane technology is a must. We need our government and other high power governments to increase federal funding to programs that help in promoting this technology. REFERENCES Corbis, A. (2007). Global Warming Effects. National Geographic. Retrieved on April 24, 2014 from http://www.environment.nationalgeographic.com/global-warming/gw-effects DeWeerdt, S. (2013). Climate Change, Coming Home: Global warming Effects on Population. World Watch. Retrieved from http://www.worldwatch.org/global-warming Trimarchi, M. (2014). Top 10 Worst Effects of Global Warming. Discovery. Retrieved on April 24, 2014 from www.discovery.com/topics/worst_effects_global_warming