Internal Rate Of Return And Net Present Value Finance Essay

Internal Rate Of Return And Net Present Value Finance Essay In every business, investment appraisal is the very important part. Accounting rate of return (ARR), Payback period (PP), Net present value (NPV), Internal rate of return (IRR), and Profitability index (PI) are the different types of investment appraisal methods. In investment decisions, time is a very vital feature. ARR and PP do not take into consideration the time value of money, and do not give an indication of the amount of capital investment required. NPV, IRR, PI are consider the time value of money and the discounted cash flow techniques. It measures the cash inflows and outflows of a project as if they occurred at a single point in time so that they can be compared in an appropriate way. These are the best methods to use for long-run decisions. Since, IRR and NPV incorporate all the cash flows and time value of money, these criteria can be used to reflect capital investment proposals strategic orientation. It is often assumed that higher is better for both of the net present value and the internal rate of return.   It is usually stated that investments with higher IRR are more profitable than investments with lower IRR. However, this is not essentially so.   In some situations, an investment with a lower IRR may be better, even judged on narrow financial grounds, than an investment with a higher IRR. This interactive lecture explores why and when this reversal takes place. To review, both the NPV and the IRR require the idea of an income stream, so lets start there. An income stream is a series of amounts of money. Each amount of money comes in or goes out at some specific time, either now or in the future.   The income stream represents the investment; the income stream is all you need to know for financial evaluation purposes. In real life, individuals, charitable institutions, and even for-profit businesses have social or other goals when selecting investments.   For businesses, the benefits of community good will are no less real for being difficult to measure precisely.   For enterprises with social as well as financial goals, the measures discussed here are still useful:   They tell you how much it costs you to advance your social goals. In here, FIRMEX Corporation is allowing for undertaking two projects. The two projects will be evaluated using the discounted cash flow methods to decide on, which project is to be selected. Net Present Value (NPV) The Net Present Value analyzes the profitability of a project by discounting all expected future cash inflows and outflows to the present point in time, using the discount rate (Horngren, et al.,1997). Discount rate is the minimum acceptable rate of return on an investment. It is the return that the organization could expect to receive elsewhere for an investment of comparable risk. NPV is a better method of appraising investment opportunities than Accounting rate of return (ARR) and Payback Period (PP), because it takes account of the time value of money and also includes all the relevant cash flows irrespective of when they are expected to occur (McLaney and Atrill, 2002). Appraisal using NPV NPV is positive when the discounted cash inflows exceed the discounted cash outflows, and so a proposal is acceptable if it has a positive NPV. When evaluating two or more mutually exclusive proposals, the one with the highest positive NPV should be accepted. In the given case, NPV of Project B is much higher than that of Project A. So, Project B is preferable. Internal Rate Of Return (IRR) Internal rate of return is another discounted cash flow technique. It is the discount rate at which the present value of expected cash inflows from a project equals the present value of expected cash outflows of the project. That is, IRR is the discount rate yielding a zero NPV (Upchurch, 1998). Appraisal using IRR : A project is accepted only if the internal rate of return exceeds the companys cost of capital. If it is less than the cost of capital, the project should be rejected. While evaluating two competing projects, the one with the higher IRR should be selected. In the given case, we will get two IRR values for Project A, and so this project cannot be evaluated using IRR. Whereas, the IRR of Project B is much higher than the companys cost of capital, and therefore it can be selected. Profitability Index: Profitability index is the total present value of future net cash flows of a project divided by the total present value of the net initial investment (Horngren, 1997). It measures the cash flow return per dollar invested. It is very useful in choosing among projects when the investment funds are limited, because it can identify the projects that will generate the most money from the limited capital available. Conclusion: NPV is the technically superior criteria, because IRR is calculated by trial and error method, and so the results are less precise. Also, IRR do not consider the size of the investment required and the gain/loss which will result from undertaking or not undertaking a project. It is therefore difficult to use IRR for comparing competing proposals, and there is a possibility that both NPV and IRR will give conflicting indications. IRR is also unable to cope with a change in the cost of capital during the life of a project. But, NPV can accommodate such a change. Another problem with IRR is that some projects may have more than one IRR, which makes it a meaningless criterion while evaluating that project. In FIRMEX Corporation, Project A has got two IRR values. So, IRR cannot be used for evaluating this project. The other two criteria, NPV and profitability index are higher for Project B . IRR for Project B is also higher than the companys cost of capital.

Path Goal Theory Essay

I have chosen the movie â€Å" Miracle† as an illustration of an individual, Herb Brooks, fulfilling the parameters of Robert House’s Path-Goal Theory . There are events that one witnesses throughout one’s life that for various reasons leave an indelible imprint on one’s heart and soul. The unexpected victory of the US hockey over the heavily favored Russian team in the 1980 Olympic Games was one of those events. I was at a cocktail party and someone turned on the TV and soon the entire group was gathered around the set, small talk forgotten, as what has been described as the greatest sporting event of the 20th century unfolded. The country was still recovering from the negative effects of the Vietnam War, a weak Jimmy Carter presidency , and enduring a low point in national pride and optimism as Japan and Germany seemed to be gaining control of the world economy as our military dominance seemed to be slipping away. As the final buzzer rang and the â€Å" Do you believe in Miracles? â€Å" issued from the TV, you could feel the surge in national pride and optimism that swept through our little group and of course throughout the whole country. Herb Brooks supplies an extraordinary example of a positive example of Houses’ path -goal theory, which basically states that the leader’s, manager’s, or in this example the coach’s mission is to guide his subordinates to follow the best paths to reach their goals. According to the theory , the leader employs a variety of leadership behaviors( directive, achievement-oriented , participative, and supportive) to accomplish his mission. The theory also postulates that each behavior type was affected by contingency variables, environmental and follower characteristics. The movie afforded a clear picture of the flexibility required by a leader as he guides and inspires his group to achieve their common goal by successfully applying the following four diverse leadership behaviors: 1) Brooks employed directive path- goal leader behavior (â€Å"situations where the leader lets followers know what is expected of them and tells them how to perform their task†.-Wikipedia) throughout the majority of the film. After the tryouts Coach Brooks immediately sets the tone of his coaching regime by informing his assistant and eventually the Olympic Hockey advisory board that he would not consult either of them when deciding the make-up of the squad. He had basically done extensive homework  on all of the players, most of whom he was familiar with through his college experience. Brooks also makes it well known that he is â€Å"not looking for the best players but the right players.† This statement sets the tone for the rest of the movie. As a seasoned coach Brooks recognizes that the best path to success lies in building a real team, whose whole is greater than the sum of its parts, and clearly avoids choosing a dysfunctional dream team. This example also exemplifies the effect of an environmental contingency factor on leader behavior (directive) as Brooks recognizes and effectively chooses behavior that will deal with the formal authority system (Olympic hockey board) and allow him to im plement his coaching strategies without interference. A second example of Brook’s use of directive leadership techniques is demonstrated by his frequently asking the players , â€Å" Who do you play for?†. Early on in the film , they uniformly reply with the names of their college teams, demonstrating, as Brooks has recognized, that they are still a group of competitive young men and not a team. He continually challenges them, especially after a fight between former collegiate rivals , to start becoming a team and to depend upon â€Å"flow , passing , and creativity†-â€Å"Who do you play for?†. This example flows into the third example his strong directive leadership abilities when after an exhibition loss to the Swedish national team, he makes the players stay after the game to skate sprint drills. In between sprints he informs them that if they don’t want to work during the game, then they can work after it. He tells them that they don’t have enough talent to win on talent alone and that the name on the front of their jersey means a lot more than the one on the back. He repeats his message of win or loose, play like champions. Over and over Brooks shouts â€Å" Again â€Å", driving the players to exhaustion. He doesn’t stop, ignoring the pleas of his assistants, until the future team Captain, Mike Eruzione, states â€Å" I play for team USA. â€Å" Brooks lets them go and a turning point has been reached. They are finally becoming a team , one of destiny with a common purpose. This also is another example of Brooks employing directive leadership to reach a goal despite the effect of a subordinate contingency factor, locus of control. When the team first came together, they were group of highly competitive and independent group of young men hwho identified with their past institutions. Their locus of control was mainly internal and Brooks, with his concept of a cohesive tem, dependent  upon another and the coach for direction, gradually moving their locus of control toward a more external variety, â€Å" I play for team USA†. He has imposed his will on the team and he is now able to lea d direct them completion of their common goal. A third and clear example of directive leadership occurs during a session in the film room where he instructs the team on the tactics and strategy they will employ to be able to stay with the more individually talented Russians and eventually beat them late in the game .He tells them that they will be better conditioned than their adversaries and that they will attack instead of defending. This example also illustrates Brooks employment of Directive Leadership taking into consideration the effect s Of Environmental ( task structure)and Subordinate(Percieved ability) Con tingency Factors to enable the team to reach it’s ultimate goal. After the film session , Brooks has not only clarified the task structure but has defined the team’s perception of their abilities so that they are now gaining confidence that those abilities will be sufficient to achieve their goal. 2) Brooks also employed Achievement- Oriented Leadership (AOL) behavior(â€Å" situations where the leader sets challenging goals for followers, expects them to perform at their highest level, and shows confidence in their ability to met this expectation.†-Wikipedia) throughout the film in various appropriate situations. The first occurrence takes place when Brooks gathers his newly chosen squad sets and sets lofty goals for the team. He tells them they are not just going to the Olympics to show but to legitimately compete. He reinforces their already apparent confidence of having already survived a rigorous tryout and warns them that only 20 names will appear on the final roster and that more of them will be going home. I believe Brooks’ choice of this leadership type behavior was influenced by a Subordinate contingency factor-Experience. Brooks correctly recognizes that his new team’s experience is limited when compared to the other international teams and that confidence in their abilities is an important cornerstone in the team foundation and that the moment called for Achievement – Oriented Leadership Behavior. Brooks has correctly identified that his squad would need to be superbly conditioned if they could hope to achieve one of their major goals-being  able to stay close to the more individually talented and experienced Russians and then outskate them at the end and secure victory. To achieve this announced goal of being the best conditioned team at the Olympic games , Brooks once again employs AOL as he challenges his highly competitive group of players to reach this goal with frequent conditioning drills. His slogan of â€Å" the legs feed the wolves† becomes almost a battle cry and is heard frequently throughout the film as he encourages the players to meet the high physical standards he has set as their goal. Once again Brooks has chosen a leadership behavior pattern(AOL) in consideration Subordinate contingency factor, perceived ability as he reinforces the team’s confidence as they see their abilities increase with their improved conditioning. In one of the most dramatic scenes in the movie which occurs in the locker room right before the big game with the Russians , Brooks once again demonstrates AOL behavior as he sets the final challenging goal of defeating the Russian team and shows his confidence in their abilities-â€Å"You were born to be hockey players† and sends a highly inspired and confident team out onto the ice . 3) An example Herb Brooks exhibiting Participative Leader behavior(â€Å" leaders consulting with followers and asking for their suggestions before making a decision.†-Wikipedia.) occurs when the coach is determining his various lines- groups of 3 players who play together and who substituted together in relief of other lines. He summons three players referred to as â€Å" The Coneheads† and instead of taking a directive approach , he takes a clear participative path as he involves the young men in the decision making process as he asks them if they would like playing together as a line and if they thought it was a good fit for them. The players agreed with Brooks and go on to be a very effective line. This shows Brooks once again choosing the correct leader behavior-participative- relative to an Environmental Contingency factor-work group-to achieve performance goals and group satisfaction. Brooks once again demonstrates participative leadership when well into the team’s development, he decides to add a new ,very talented college player to  the roster. On their own, 3 team members approach the coach and voice an opinion that this new player is not needed and should not take a roster spot of a player who has worked so hard to earn that spot. The coach argues that the new player is very talented and will help the team and asks why the 3 young men do not want him. They respond he is not â€Å"family â€Å". Brooks recognizes that he has achieved his goal of team and has clearly consulted with followers before making a final decision. 4) Coach Brooks also employs Supportive Leadership behavior ( â€Å" behavior directed toward the satisfaction of subordinate’s needs and preferences. The leader shows concern for the follower’s psychological well being.†- Wikipedia.) and his early interaction with goalie Jim Craig demonstrates this type of leadership behavior. Jim is an outstanding goalie whose play has been erratic since the recent death of his mother. Brooks knows that against the aggressive Russian team the goalie will play a deciding role. Jim had earlier refused to take a team test and had expected a tongue lashing from Brooks . Instead , Brooks , cognizant of the psychological aspects of the grieving process which are affecting Jim’s playing and his ability to fully commit emotionally to the team. In private sessions he recognizes and therefore validates Jim’s emotional issues. After the coach points out an erratic performance, Jim is benched and asks the coach is it because he didn’t take the test and Brooks replies, â€Å" No, I want that guy that wouldn’t take the test†. Jim is named the starter and against the Russians plays an outstanding game, turning back a deluge of shots on goal by the Russians. If the coach had chosen a harsher style, Jim may have very well shut down further and robbed the team of a valuable asset. Once again Brooks has chosen the right leadership behavior –Supportive- to bring out the best in his follower, enabling them both to reach a common goal. In doing so he had identified the relation between a subordinate contingency factor, locus of control, and the need for the proper leader behavior-Supportive-to achieve the goal. Jim was feeling isolated and distracted by his grief, leading to a more internal locus of control and Brooks was able to move him toward a more external perception involving the concept of team, discipline and conformity to leadership by employing that behavior style. In another demonstration of utilization of Supportive leadership, Brooks exhibits compassion and empathy when he drops Ralf Cox from the Olympic squad near the end of the training period. Since Brooks himself was in a similar situation, having been cut from the 1960 Olympic Hockey right before their run for the gold medal, he personally understands the psychological trauma after a rejection of this magnitude. He personally comforts and consoles Ralf and thanks him for his fine effort and tell him that he is a great player. This display of supportive leadership could not help but further strengthen the team’s belief in their coach’s leadership abilities and character. A final example of supportive leadership, occurs , when understanding the psychological and physical distress of the injured Jack O’Callahan, Brooks meets with him privately and assures him that he remains confident in his ability to perform and that he will not be , as Jack so desperately feared, be cut from the team. Jack goes on to heal and play an important role in the US victory, vindicating Brooks’ discision and use of supportive leadership. As presented, Herb Brooks clearly demonstrates in the movie â€Å"Miracle† the effective use of House’s Path-Goal Theory as he guides his team, the 1980 US hockey team on its historic journey toward the defeat of the supposed invincible Russian team and the winning of the gold medal. I doubt that Brooks was even aware of House’s work but, guided by experience and instinct he effectively employed the various leadership behaviors and the modifying effect of environmental and subordinate contingency factors to gain the trust and respect of his peers and his players, leading them to the ultimate prize. In doing so , Brooks demonstrates to all leaders the importance of flexibility in leadership techniques and of not only gaining the trust of one’s followers but the necessity of fostering trust between those followers. Part 2 The movie â€Å"Miracle† also illustrates examples of Victor Vroom’s Expectancy  Theory. As described in Robbins and Judge, pages 86-87, this a motivation theory which postulates there is a certain relationship between personal effort and outcomes and that employees and in our examples, team members, can be motivated to achieve favorable outcomes. ) Vroom describes three processes or links, 1) Effort –Performance , 2) Performance- Reward, and 3) Rewards-Personal Goals† and their relationships. In the first link ( Effort –Performance), the individual ascertains if effort will equate to performance. In the second link (Performance-Reward) , he or she determines whether there be a desired outcome following a good performance and in the third link (Rewards-Personal Goals) will those rewards satisfy my personal needs? I believe the following 3 players dynamically exhibited the 3 links or processes of Vroom’s Theory. 1)Jimmy Craig-A an extremely t alented goaltender who led Boston University to the 1978 NCAA Division 1 championship. Effort-Performance- Initially deemed the back up goalie, Jimmy makes it clear that he is only attending the try-outs because he promised his mother shortly before she passed away near the end of his college career to try out for the Olympic Team and win a gold medal.. After he makes the team, both Jimmy’s attitude and thus his effort increase throughout the early and middle parts of the film as he is shown practicing harder and engaging in extra drills to increase his hand eye co-ordination and conditioning. As these efforts pay off, his performance begins to improve as he obviously knew it would with increased effort, thus demonstrating the link between performance and effort. Performance – Reward- Recognizing his improved performance , Coach Brooks rewards Jimmy with the the starting goalie position which led to the further rewards of victories against the teams they needed to overcome in the 1980 Olympics . Against a veteran Russian team it was his outstanding perfor mance(36/39 saves) , especially late in the game , that preserved the US victory. Jimmy and the US team then went on to attain their ultimate reward-the Gold Medal. Reward-Personal Goals- These rewards were of course personally desirable as they led to the attainment of personal goals such as fulfilling his mother’s wishes and helping to improve his grieving father both emotionally and probably financial as the notoriety and exposure led to a professional Hockey career and eventually a successful long term profession as a motivational speake John J. â€Å" r, spokesperson, and marketing and sales strategist. 2) Michael  Ã¢â‚¬Å"Rizzo â€Å" Eruzione- Mike was a Boston University hockey standout who graduated several years earlier than his above teammates. He was described by his BU coach, Jack Parker as† Pete Rose on skates†-â€Å"Wikipedia†. Rizzo went to successfully play 2 years in the International Hockey League before trying out for the 1980 Olympic team. Effort-Performance- It is clearly apparent from the onset of the film, that Mike is a long shot to make the team and when he does , he is chosen last. It is also obvious that Rizzo is a natural leader as he is portrayed settling disputes between rival Minnasota and Boston players and is a critical factor in coalescing the group into an effective team, when as noted in part one is the player who shouts, â€Å" I play for team USA â€Å". He not only gives great effort in practice but also in his natural leadership and that led to success in performance in both areas Performance –Reward- Eruzione’s all around performance in rewarded by not only making the team but being appointed Team captain, a prestigious position. He is then further motivated to play to the limits of his ability and makes the winning shot against the Russians. He is the player that Coach Brooks was talking about when he stated â€Å" I don’t want the best players, I want the right players.† Reward-Personal Goals- Initially , recognizing his limited ability Rizzo’s personal goal was just to make the squad and continue to play hockey a little bit longer and he accomplished this and more, eventually winning a gold medal. It is obvious that his personal goals were different than many of his teammates whose personal goals were to go on and play professional hockey. I suspect he had other personal goals as he was able t o parlay his Olympic success into a rewarding business and TV careers. 3)John â€Å" Jack â€Å" O’Callahan – Another extremely talented college hockey standout who also played for and was Captain of the 1979 championship Boston University team. Effort-Performance- Jack was a highly competitive player who always gave 100% on the ice. He once stated in the movie that he had skated so hard he couldn’t feel his legs. He also had definite leader ship abilities and inspired his teammates to also go all out. His continued maximum effort lead to superior performance and a high scoring output. Performance – Reward- Jack’s outstanding performance led to rewards on several different levels. First, he was easily rewarded with a position on the team and granted significant playing time. Then, when he suffered a potentially season ending  knee injury during the exhibition game against the Russians, Coach Brooks rewarded him with a show of faith by keeping him on the team despite the fact he was not able to play the opening Olympic rounds. Jack was obviously highly motivated by this gesture and vigorously rehabbed and was able to return to play in the key game against the Russians, making a key play that led to a score that tied the game and eventually led to another reward –the Gold Medal. Reward - Personal Goals- When Herb Brooks stated in the locker room before the pivotal Russian game, â€Å" you were born to be Hockey players† one of the players that definitely fit that description was Jack. He exemplifies the Expectancy Theory by being able to convert the desired awards into fulfillment of his personal goal –to play professional hockey, playing 390 games in the NHL. I think this movie and the actual reality it depicts is an excellent example of Vroom’s Expectancy Theory. This theory appears to be more applicable to sports than the workplace as there are clear and defined linkages between effort and performance and performance and reward. As compared to the average workplace , the endpoints of reward and personal goals can reach , as we know, extraordinary levels of financial success and notoriety.

Drug Addiction Essay

-Drug addiction is a complex brain disease. It is characterized by compulsive, at times uncontrollable, drug craving, seeking, and use that persist even in the face of extremely negative consequences. -Drug seeking becomes compulsive, in large part as a result of the effects of prolonged drug use on brain functioning and, thus, on behavior. For many people, drug addiction becomes chronic, with relapses possible even after long periods of abstinence. Drug addiction is a chronic, often relapsing brain disease that causes compulsive drug seeking and use despite harmful consequences to the individual that is addicted and to those around them. Drug addiction is a brain disease because the abuse of drugs leads to changes in the structure and function of the brain. Although it is true that for most people the initial decision to take drugs is voluntary, over time the changes in the brain caused by repeated drug abuse can affect a person’s self control and ability to make sound decisions, and at the same time send intense impulses to take drugs. It is because of these changes in the brain that it is so challenging for a person who is addicted to stop abusing drugs. Fortunately, there are treatments that help people to counteract addiction’s powerful disruptive effects and regain control. Research shows that combining addiction treatment medications, if available, with behavioral therapy is the best way to ensure success for most patients. Treatment approaches that are tailored to each patient’s drug abuse patterns and any co-occurring medical, psychiatric, and social problems can lead to sustained recovery and a life without drug abuse. Similar to other chronic, relapsing diseases, such as diabetes, asthma, or heart disease, drug addiction can be managed successfully. And, as with other chronic diseases, it is not uncommon for a person to relapse and begin abusing drugs again. Relapse, however, does not signal failure — rather, it indicates that treatment should be reinstated, adjusted, or that alternate treatment is needed to help the individual regain control and recover. How Do Drugs Affect The People Around Environment * One of the largest ways in which drug abuse affects families is the creation of an unstable environment. Children especially are influenced and affected by their parents behaviors. As such, a sibling can also be affected by the actions of another sibling who is abusing drugs. Drugs can affect the way family members talk, act and care for their families. For example, the drug can often come before basic needs such as food, clothing or even the love and attention a child needs to have a stable environment. All of these actions can have long-lasting effects on others in the household, especially young children who grow up with drug abusers as role models. These effects can include the child following in the abuser’s footsteps, especially if they have never seen what a functional family should look like. Financial * Drug abuse can affect both family and friends financially. This can come both from enabling and from theft. Enabling is the action of helping a user with his habit because you feel bad for him, or feel it is keeping him around long enough for you to be able to change them. One of the main ways that enabling occurs is through directly or indirectly financing the drug habit through loaning or giving money to the addict. Drug abuse can also lead addicts to steal from friends and family members to support their habit. Violence * Drug abuse can also affect family and friends by inviting violence into the relationship. There are two main times where violence can quickly escalate for an addict: during extreme highs and during withdrawal. Alcohol is an especially guilty substance for causing violence when users are well over the legal limit of blood alcohol content. This can cause violence both through direct actions, such as getting in a fight, as well as indirect actions, such as driving a car while intoxicated. Violence can also affect the friends and family of a drug abuser during withdrawal. One of the most common symptoms of alcohol withdrawal is irritability and anxiousness. The desire to use can quickly cause users to become violent to even close family members in order to get help or money for their next high. Abandonment * One of the most heart-breaking effects of drug abuse on families especially is abandonment. Once drugs have altered the nerve pathways in the brain, the desire to use quickly becomes more important to anything else in the drug addict’s life. Friends and family members quickly get replaced by the next score of the drug of choice. This can often lead to divorce or the loss of children to state custody due to a lack of ability to be a loving and providing parent. There is also an increased risk of parents or spouses being locked up in prison for extended periods of time, leaving their children to grow up without a mother or father. The effects of this abandonment may stick with kids all the way through adulthood. Diseases Involved In Using Drugs Date: Tue 29 Jan 2013 Source: University of Oxford/Medical Research Council, press release [edited] The genetic variant rs12252-C was present in 69 per cent of Chinese patients with H1N1 swine flu [influenza A/(H1N1)pdm09]. A genetic variant which explains why Chinese populations may be more vulnerable to H1N1 swine flu has been found by researchers at the University of Oxford and Beijing Capital Medical University. This finding could help identify those at high risk of severe infection and help prioritise those in highest need of treatment The study, led by Dr Tao Dong of the University of Oxford, showed that people with a specific genetic variant are 6 times more likely to suffer from severe influenza infectionthan those without. The particular variant rs12252-C is occasionally found in Caucasian populations and was already known to be associated with more severe influenza disease. However, the research teams in the UK and China showed that this variant was present in 69 percent of Chinese patients with severe pandemic (swine) influenza in 2009 compared with 25 percent who only had a mild version of the infection. The results are published today [29 Jan 2013] in the journal Nature Communications. The study was part-funded by the Medical Research Council Dr Tao Dong of the Weatherall Institute of Molecular Medicine at Oxford University says: â€Å"Understanding why some people may be worse affected than others is crucial in improving our ability to manage flu epidemics and to prevent people dying from the virus. It’s vital that we continue to fund research that examines flu from the smallest details of our genetic code in the populations around the world that continue to be vulnerable to infection.† The results suggest that the gene variant increases the severity of, rather than susceptibility to, influenza infections. It is thought that the DNA change increases risk of severe infection by limiting the effectiveness of a protein which helps to defend against influenza and similar viruses. This protein, known as IFITM3, has been previously shown to slow down virus replication in mice.Professor Andrew McMichael, co-author of the study at the University of Oxford, says: â€Å"The apparent effect of this gene variant on the severity of influenza is of great interest. It remains to be seen how this gene affects the whole picture of influenza in Southeast Asia, but it might help explain why new influenza viruses often 1st appear in this region of the world.†. During the 2009 pandemic, hospitals in China admitted patients with severe infection but also, unusually, patients with mild infection who, under normal circumstances, would not require hospitalization. This â€Å"open-door† policy provided a unique opportunity to capture a relatively unselected group of patients with divergent outcome s, observed and managed under similar clinical conditions. The introduction provides the background and rationale for this investigation. â€Å"The SNP rs12252-C allele alters the function of interferon-induced transmembrane protein-3 increasing the disease severity of influenza virus infection in Caucasians, but the allele is rare. However, rs12252-C allele is much more common in Han Chinese. The authors report that the CC genotype is found in 69 percent of Chinese patients with severe pandemic influenza A H1N1/09 virus infection compared with 25 percent in those with mild infection. Specifically, the CC genotype was estimated to confer a 6-fold greater risk for severe infection than the CT and TT genotypes. More importantly, because the risk genotype occurs with such a high frequency, its effect translates to a large population-attributable risk of 54.3 percent for severe infection in the Chinese population studied compared with 5.4 percent in Northern Europeans. Interferon-induced transmembrane protein-3 genetic variants could, therefore, have a strong effect on the epidemiology of influenza in China and in people of Chinese descent.†The authors conclude that: â€Å"These data clearly extend the earlier observation in a European cohort that the IFTM3-rs12252CC genotype is significantly associated with influenza severity. The association is primarily with severity of disease rather than susceptibility to infection, although larger studies are required to prove this specific association. IFITM3 may have an important role in virus replication and dissemination following the initial infection. The much higher level of the CC genotype in the Han Chinese population compared with Caucasians may place the Chinese at a higher risk for developing severe illness upon influenza infection. It is not known whether those who are more severely infected with influenza virus are more likely to spread the infection. If this is the case, the high frequency of the C allele in Asian populations may influence the epidemiology of influenza.† – Mod.CP Government approach: ISABELA CITY, Basilan, Jan 21 (PIA) — The Peace and Development Coordinating Committee (PDCC) also known as Team Basilan has resolved to re-organize and activate the Provincial Anti-Drug Council to address the escalating drug problem in the province. In a recent meeting of Team Basilan, Provincial Administrator Tahira Ismael recognized the urgency of addressing the illegal drug situation in the province. She fears that the drug menace has slowly crept into the different communities in Basilan, after receiving unconfirmed reports from the ground on illegal drug use. The representative of the Philippine Drugs Enforcement Authority (PDEA) who requested anonymity confirmed the proliferation of illegal drugs in certain areas of Basilan. The PDEA representative disclosed that for lack of personnel and resources, agents from nearby Zamboanga City will provide the needed assistance during legitimate operations and raids in the area. PDEA was also thankful for the full support and initiatives of the local police and the military in addressing the drug problem. PDEA has only one agent for Basilan. Provincial Police chief PSSupt. Mario Dapilloza said that in his capacity as provincial director, he has activated the provincial anti-illegal drugs task force in the police department. With the deputization from PDEA, the task force was able to arrest the most wanted person in December last year. With the situation, Team Basilan has resolved to craft a resolution requesting PDEA for at least two additional agents for the province. â€Å"We need at least three PDEA agents, to be assigned in strategic areas in the province,† Ismael said. Moreover, Team Basilan has resolved to ask Gov. Jum Akbar for an Executive Order creating the Provincial Anti-Drug Council. Ismael said that the council will immediately convene as soon as the governor has approved the E.O. (RVC-PIA9, ZBST) LOILO CITY, Dec. 29 (PIA6) — Now it is not only the taxi drivers that should be randomly tested for illegal drugs, but also employees in offices and business establishments. Philippine Drug Enforcement Agency (PDEA) officer-in-charge Atty. Ronnie Delicana said the agency is pushing to expand the random drug testing among workers. â€Å"We will get the cooperation of the local officials to pass ordinances that require business establishments to allow random drug testing in their workplaces,† Delicana said in a radio interview. â€Å"This will be a pre-requisite to issuance of business permits,† he added. He also said that there should be a widespread culture of zero drug abuse in workplaces to boost PDEA’s campaign against illegal drugs. â€Å"We will be pursuing the signing of memoranda of agreement with different partners to realize drug-free work places,† Delicana said. Meanwhile, for 2012, PDEA arrested 438 suspected drug peddlers in 277 operations, where 34 of those arrested were among the 1,383 suspected drug personalities in Western Visayas, who are in the agency’s watch list. As to cases filed in court, PDEA records show that 482 were filed in court with 3,118 are still pending for lack of witnesses and evidence. The operations also yielded as per record, about P2.7 million worth of drugs and paraphernalia seized. (JCM/ESS-PIA 6, Iloilo) the government is doing actions with the issue. Programs: The Church of the Nazarene is now being asked to become a major partner in a drug prevention program in the Philippines. The program is centered around a high quality video presentation produced by Heinz Fuzzle, a freelance producer for Gospel Films who has worked on a number of projects with the Church of the Nazarene in the past. Portions of the piece were shot on the campus of Asia-Pacific Nazarene Theological Seminary in Manila. The film features interviews from a variety of personalities in the Philippines, including a Nazarene young man who was converted from a life of drug abuse. With 57% of the Philippine population under the age of 20 years old, drug abuse is becoming a serious problem in many parts of the country. Approval has been granted by Philippine government officials to show the film in 40,000 high schools, universities, and colleges across the nation. The film has a strong Christian message with follow-up linked to local churches. The Philippine Field Office hopes to launch 11 film teams to meet this new challenge. This is a tremendous open door for taking the Gospel into every corner of the Philippines

What Are The Components Of A Qualitative Research

In the world of research, two unique styles of information collecting are utilized in attaining appropriate material for scholarly articles. Qualitative and quantitative data represent two entirely different formats of evidence-based material used in research. The information in all scholarly research articles falls under one or both of these categories. Although people often get these research styles confused, those who wish to write effective evidence-based articles must understand the differences between the two. The purpose of this paper is to identify and discuss the components of a qualitative research article and a quantitative research article by comparing similarities and differences between the two. A Comparison and Contrast of Quantitative and Qualitative Research Quantitative Research Components Quantitative research looks at the relationship between selected groups of variables in order to test objective theories. 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