The Central Bank Of Australia - 1071 Words

The Central Bank The Reserve Bank of Australia (RBA) located in Sidney, South Wales, Australia, is the Central Bank of Australia. All the responsibility that this bank has over the country comes from the Reserve Bank Act 1959. The duty to contribute for the stability of their currency, maintain full employment and the economic prosperity with the welfare of Australian people. Using strategies as setting cash rate to settle the medium term of inflation target, managing to control a strong financial system and productive payment system, and last but not least issuing bank’s notes. On the other hand, the Central Bank delivers banking services to overseas central banks and others institutions. Also managed the gold and the exchange†¦show more content†¦APRA also issues capital adequacy for banks that are reliable with the Basel II rules. APRA also requires all of the institutions that they regulate to report a periodic basis. ASIC relays in market integrity, consumer protection, and regulation on financial institutions like investment banks or finance companies. However, ASIC does not investigate concerns about the consumer protection, its delegated to the Australian Competition and Consumer Commission (ACCC). To sum up, banks are also obligated to follow the Anti money Laundering and Counter Terrorism Financing Act 2006. It is required to monitor every customer using the risk-based approach, which is a program from the Australian Transaction Reports and Analysis Centre (AUSTRAC) to identify any suspicious activities in any account and also to file an annual report for the records. Commercial Banks Operating in the country †¢ National Australia Bank Group (NAB) is one of the four top banks in Australia. This bank has about 40,000 members and 1,700 branches globally. The income statement below shows the amounts in US Australian dollars from last year (2014). For further information about their balance sheet see appendix figure 1. †¢ Commonwealth bank: also in the top four banks of Australia with branches across the world such Asia, New Zealand, North America etc. This Bank offers life insurance, retirement income and general insurance. Is one of the

Buzz Marketing As A Viral Marketing Tool - 1395 Words

Buzz marketing is a viral marketing tactic that is the interaction of consumers focused on maximizing the word-of-mouth potential of a particular campaign, product or service, exaggerating or sometimes modifying the original message. The emotion, excitement and brand facts are transmitted through conversations between consumers friends, family or the mass audience through word of mouth and use of social media platforms. (Rouse) Buzz marketing is a different approach to marketing than the traditional marketing strategies with use of radio, out of home, print or television. Traditional mass marketing entails advertising to the mass market with a goal of converting a portion of those consumers to a brand. Buzz marketing is all about word of mouth, and leverages, â€Å"not simply the power of the trendsetter, but also â€Å"the power of wanting to be the trendsetter†. (Walker,2004). Marketers activate buzz marketing as an effective, perceived unbiased message to gain trust and loyalty among consumers. Tremor feels that â€Å"buzz marketing is the most effective way for a message to travel through networks of real people communicating with others.†(Walker, 2004). The early starters that are originally targeted by marketers are the key to the message traveling from their internal circle to eventually penetrating the mass market. Word of mouth is not just successful when communication occurs b etween friends and family members, but acquaintances as well. 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Potential Collaborative Research in Infection Control

Question: Discuss about the Potential Collaborative Research in Infection Control. Answer: Introduction: Science has made advancements by leaps and bounds which has made our lives less complex and smooth. Credit for this advancement should be given to the research work that has been carried out by various scholars in different domains. The results and findings of these researches are documented in popular journals. It is essential to critically analyze and interpret those reports so that it can be successfully implemented through recommended solution in our everyday life (Schowm, 2003). The findings from different researches if interpreted properly can breakthrough several problems that the world is coping with in the present scenario. This report is aimed at illustrating the critical analysis structure that should be used while investigating the journal or research articles. For that two journal articles from reputed journals have been chosen which are from the domain of medicine and nursing which represents both qualitative and quantitative study (Vargas-Vera, 2015). This report syste matically approaches to evaluate the articles step by step. Initially it summarizes the findings of the articles and then it justifies the discussion made in the articles with special concern to the authors views about the articles. The detailed analysis of the articles has been documented in the following sections (Martin, 2012). Research critique: A research critique is a thorough analysis about the strengths and weakness of a research article. There can be several motivations for performing a critique namely, it can be done to assess whether it is a quality work or not before publishing it in a renowned journal, it may be sometimes required for finishing the research as valuable feedback before submission, sometimes it is done to understand the aims and objectives of a research for learning purpose as in this case (Long, Griffith, Selker, DAgostino, 1993). The primary function of research critique is to evaluate the research design that has been followed for a particular study and whether it is legitimate or not. There are cases where one needs to understand if the data that has been gathered are from authentic sources and their interpretation has been carried out properly (Hutnyk, 2007). It is not necessary that it has to be critical in nature, a research critique can be positive in nature admiring the work that has been done. There are several aspects of a research critique like it has to evaluate different sections of the research namely introduction, literature review, research methodology, data collection, findings and discussion, etc. A critique has to analyze the study at each and every step with utmost diligence and precision. These principles have been used while analyzing the two articles of concern from the nursing and medical domain. This report documents a brief critique on both the research articles (Honeycutt, Russell, Oldridge, 2011). Article 1: The first article is about infection control and the various aspects associated with it. It describes and delves deep into a particular type of infection control on which research has been conducted. Central-line associated bloodstream infections, in short which is called CLABSIs are considered as one of the most life-threatening diseases which affect the central venous catheters (CVCs) (Harrop, 2010). Given that approx. 41000 cases of the CLABSI is detected in the US each year, each costing an additional $16,550 to the medical system in addition to increased hospital stay, discomfort and loss of life with a mortality rate of 15-25%, it is imperative to undertake research to control and reduce the number of cases. Existing literature indicates that CLABSIs have reduced because of the introduction of CVCs coated with antimicrobials. However there is a gap in the literature with respect to understanding of the impact chlorhexidine (CHG) coated central catheters have on CLABSIs vis-a-vi s a non-CHG peripherally inserted central catheter (PICCs). The article under concern makes an attempt to understand the impact of both the PICCs on the health of the patient. The methodology that had been adopted for research was that 3 high risk units were selected for patient identification over a period of 18 months at a 800 bed tertiary hospital in the mid-west; patients were subjected to either of the PICCs, one of which consisted of the CHG-impregnated one and the other one was non-CHG impregnated one. The data was collected from the laboratory daily and analyzed thoroughly; in fact care was taken to assess the dressing site as well (Ghoulam, Barigou, Belalem, 2015). The documentation was finally vetted to understand the presence of CLABSI or VTE. Initially a a-priori method was used to determine requisite sample size based on requirement of 0.80 power and two-tailed alpha of 0.05. Based on the same, a total of 189 samples were chosen out of which 22 were eliminated due to various reasons. A total of 167 patients were involved in this study among which 3 had been diagnosed with having CLABSI among which 2 were through CHG group while others were through non-CHG group. VTE was also developed by 3 patients that was created in the reverse proportion as 2 were from non-CHG group while 1 was from CHG group (Hall Dornan, 2008). Statistically no correlation was found among the CLABSI or VTE with the CHG or non-CHG usage. However it is justified to mention as per the research there was significant bleeding for the CHG PICC line which ultimately required dressing. The conclusion from the study was that there are no considerable differences in the development of CLABSI or VTE through the use of CHG or non-CHG PICC lines (Gardner, 2008) . While the study asserts no discernible correlation of the use of CHG/non CHG with the development of CLABSI, the sample size may be argued to be a constraint to come at any conclusive proof as a result of the study. As a bare minimum to obtain the power of 80% as opposed to the meager 48% in this case, the sample size requisite would have to be around 348. Also, with blinding not possible due to the distinction of the catheters, such an action may have led to the development of the inherent bias in terms of maintenance of the PICC lines by nurses and patients. A proper demographic study and background data collection would have gone a long way in establishing randomness of the study. Overall this can be considered as a genuine attempt to investigate a research problem in the field of infection control (Embi Payne, 2009) with the limitations as stated above. Potential confounders affecting both dependent and independent variables may include diagnosis or severity of illness. With a better sample size, efficient blinding and demographic randomization the study would hit the mark to a better extent. Article 2: The second article talks about the barriers and obstacles faced by nurses while implementing central venous catheter (CVC) guidelines. The aim of the study has been explained clearly at the beginning of the study wherein it is mentioned that the study aims at investigating the barriers faced by nurses while taking care of the central venous catheter practices (Dojat Pachet, 2005). The premise for this research has been set with the iteration of the fact that CVC care practices are evidence based and there are instances where they have not been adhered which have resulted in infection which can be considered to be nosocomial. 41000 cases of the CLABSI are diagnosed in the US each year with associated cost per case ranging from $5734 to $22939, thus creating a need for efficient control and elimination. There have been several studies conducted to understand the gap in giving the healthcare services through process improvements and other observation based studies. However this researc h is aimed at plugging the gap with the help of real time monitoring of nurse and understanding their perceptual barriers towards adhering to norms that have been set with respect to CVC. Data was collected in a systematic approach wherein 10 participants were selected to investigate the matter at hand. Data collection was primarily based on interviews and then the gathered data was subjected to further analysis through the popular Colaizzis method (Creedy, Winch, Vickerstaff, 2002). The results of the research were quite astonishing as it led to the proper understanding of nurses behavior with respect to their mental approach or blockage towards handling CVC practices. The data that was collected was primarily grouped into major themes which included cognitive factors towards a nurse behavior and other consisted of the contextual factors while analyzing the nurse response which was related to the patient condition, materials, processes and culture of the organization. Finally the results were interpreted to come to the conclusion that mental barriers while servicing for CVC practices can lead to errors which limit the quality of the service and as a result recommendations were given with respect to reducing such barriers through training and development of intuitive processes (Cole, 2006). While critiquing the study conducted, the first factor that comes to mind is the choice of a single site for generalization of the findings which may significantly limit the spectrum of the results arrived at. Smallish sample size and a limited focus may be other factors of concern while evaluating the adaptability of the study. The study complemented the findings from peer studies and that adds credibility to the research and throws light on a hitherto unexplored association regarding active nurses in the acute and critical care settings. The low sample size of the nurses chosen may lead to questions about generalizing the assumptions, and for this purpose, further research with a diverse and wider volume is mandatory. In essence, the cognitive and contextual barriers that came out as a result of the interview seems to be logically consistent with contextual barriers determined to be the organizational behavior, staffing and supplies, leading to external ramifications in the nurse b ehavior. Again, choice of a single hospital as a setting may be a significant influencer, specially in the case of contextual barriers. For the cognitive barriers, the nurse sample size is an important factor and diversity of selection and randomness should be the priorities for the future descriptive studies. The research design that has been adopted is also suitable for the investigation of the given topic. It takes into concern all the attributes related to the research and then evaluates step by step to gather relevant data and finally interpret them so that we get a good idea about the results and the way forward to solve the issue at hand (Bender, 2006). Overall, the article provides a fairly logical explanation on the practices at a hospital which may induce conditions pertinent for CLABSI formation, but is limited in the scope and sample size to be generalized to a broader spectrum. New Zealand Context: The research that has been considered is of immense significance to the New Zealand healthcare scenario since it deals with two important infection control mechanisms which need to be addressed. New Zealand population and the entire healthcare system had been grappling with this issue for quite some time now and these two researches if implemented properly will provide a solution for the problems at hand (Bylander, Smith, Svirbely, 2003). This is the beauty of research studies conducted in the science domain which empowers the industry or domain with new solution or breakthrough technology thereby enabling to deal with complex issues. The critical analysis of the research study helped in validating the research process which is essential for the success of the solution as well as its implementation. The different medication techniques that have been reiterated in the research articles had to be validated by scholars before they can be taken up for implementation and a research criti que serves this purpose of validation. Once implemented these research findings will add immense value to the New Zealand healthcare system and therefore improve their services. With this expectation the research studies analyzed in this piece is expected to add immense value to the existing literature of medical domain as well (Bell, 2010). Conclusion: This report has been structured in a systematic manner to analyze and understand the research critique process so that it can be conducted in a streamlined fashion later on. It starts off by explaining the process of research critique with special emphasis on defining critique. Then it moves on to critically analyze two research articles of concern from the medical field. It gives a brief summary about the researches and then comments on the different sections of the research like methodology, literature review, etc. Finally it also talks about the significance of the research in the New Zealand healthcare context. Therefore the report has successfully developed a framework for research critique process which can be implemented for other such academic purpose as well. Reference Bell, A. (2010). Potential collaborative research in infection control.American Journal of Infection Control, 8(1), 29A. Doi: 10.1016/s0196-6553(80)80082-4 Bender, B. (2006). Thatcherism and anthropological research funding.Critique of Anthropology,6(2), 9198. Doi: 10.1177/0308275x8600600209 Bylander, T., Smith, J. W., Svirbely, J. R. (2003). Qualitative representation of behavior in the medical domain.Computers and Biomedical Research,21(4), 367380. Doi: 10.1016/0010-4809(88)90051-1 Bylander, T., Smith, J. W., Svirbely, J. R. (2009). Qualitative representation of behavior in the medical domain.Computers and Biomedical Research,21(4), 367380. Doi: 10.1016/0010-4809(88)90051-1 Cole, M. (2006). Qualitative research: A challenging paradigm for infection control.British Journal of Infection Control,7(6), 2529. Doi: 10.1177/14690446060070060701 Creedy, D., Winch, S., Vickerstaff, J. (2002). Research in infection control practice: A proposed collaborative model.Australian Infection Control,7(3), 8592. Doi: 10.1071/hi02085 Dojat, M., Pachet, F. (2005). Effective domain-dependent reuse in medical knowledge bases.Computers and Biomedical Research,28(6), 403432. Doi: 10.1016/s0010-4809(05)80002-3 Embi, P. J., Payne, P. R. O. (2009). Clinical research informatics: Challenges, opportunities and definition for an emerging domain.Journal of the American Medical Informatics Association,16(3), 316327. doi:10.1197/jamia.m3005 Gardner, A. (2008). Tropical health and infection control research directions.Healthcare infection,13(4), 107108. Doi: 10.1071/hi08032 Ghoulam, A., Barigou, F., Belalem, G. (2015). Information extraction in the medical domain.Journal of Information Technology Research,8(2), 115. doi:10.4018/jitr.2015040101 Hall, J. A., Dornan, M. C. (2008). Meta-analysis of satisfaction with medical care: Description of research domain and analysis of overall satisfaction levels.Social Science Medicine,27(6), 637644. Doi: 10.1016/0277-9536(88)90012-3 Harrop, M. (2010). Social research and market research: A critique of a critique.Sociology,14(2), 277281. Doi: 10.1177/003803858001400205 Honeycutt, M., Russell, C., Oldridge, C. (2011). A standardized approach to CLABSI elimination.American Journal of Infection Control,39(5), E157. doi:10.1016/j.ajic.2011.04.266 Hutnyk, J. (2007). Media, research, politics, culture: Review article.Critique of Anthropology,16(4), 417428. Doi:10.1177/0308275x9601600406 Long, W. J., Griffith, J. L., Selker, H. P., DAgostino, R. B. (1993). A comparison of logistic regression to decision-tree induction in a medical domain.Computers and Biomedical Research,26(1), 7497. doi:10.1006/cbmr.1993.1005 Martin, M. (2012). Preventing central line-associated bloodstream infections CLABSI.Nursing,42(6), 4647. doi:10.1097/01.nurse.0000415297.39358.d8 Schowm, J. C. (2003). Delayed diagnosis of tuberculosis in patients with human I immunodeficiency virus infection.American Journal of Infection Control,21(4), 221. Doi: 10.1016/0196-6553(93)90041-2 Vargas-Vera, M. (2015). Methodology for record linkage: A medical domain case study.International Journal of Knowledge Society Research,6(4), 1835. doi:10.4018/ijksr.2015100102

Value Chain Analysis Operationg Companies

Question: Describe about the Value Chain Analysis for Operationg Companies. Answer: Introduction: The aim of the paper is to identify different value chain designs and structures of two companies operating in the same industry. For this purpose, Telstra, the telecommunication service provider and Samsung, the company that deals with tangible products like mobiles, laptops and other electronic and telecommunication products, have been used for the case study analysis. A detailed analysis of their value chain design will be along with the evaluation of primary Customer Benefits Packages of each firms will be carried on throughout the paper. Value chain is the set of the activities that a firm carries out in a particular industry to perform better and deliver valuable products or service to the consumers in the market to meet the demand of the consumers. The concept was characterized by Michael Porter. Value chain analysis is carried on to gain a competitive advantage among other products in the market. As point out by Erlach (2013), we live in an Omni channel world Consumers no longer depend on the availability of products from the physical stores but everything is available to them online. This has opened up the scope for better value chain design and the provision of providing personal service to the consumers. A. Firms strategic vision, strategy and competitive priorities: Telstra: Vision of the Company: The primary vision of the company is to create a better future for the consumer base. To connect the World and the future that wont happen on its own. This future has to be created by Telstra. To create a brilliant connected future. To ensure that each customer is connected. Making the nation work falls under the responsibility of Telstra (Frazelle 2012). To provide service to everyone. The aim of Telstra is to serve every people with better opportunities of communication that will help everyone to connect. Strategy used by the Company: To improve customer advocacy: The telecommunication company is dedicated to improve their customer servicing and create advocacy among all customers. To drive value to the core: To strive to build a strong customer base and network leadership and productivity improvement throughout the business activities (Holweg and Helo 2014). To build new growth opportunities: To continue with the business activity and build better opportunities to improve the business activities. Competitive priorities: Manage business activities by following strict regulations to manage any kind of competitors pressure Maintaining a good relationship with the regulations of government (Hamilton and Selen) To reduce the cost of the service by expanding the business and focusing on the enhancement of customer base Samsung: Vision of the Company: To create innovation through business: To develop high technologically developed products with advanced process that boosts the sales of the Company To build unmatched products: To offer products at a certain competitive advantage to create huge customer base (Shashi and Shabani 2016) To widespread its business: To provide large numbers of products to the consumers to select from and create huge customer base throughout the globe Strategies used: To offer best service at a lesser price. Samsung offers various mobiles in different ranges to all strata of consumers (Holweg and Helo 2014) To come up with new ranges of mobile phone to fight against competition To come up with innovative ideas towards designing and formation of their products Competitive priorities: To understand the needs of the customers and developing products that are inclined to their needs To abide by the regulations of the government to carry out a safer business To ensure better promotional activities to fight against the other major competitors B. Comparison of primary Customer Benefit package: Customer benefit package is a part of operation management that clearly defines a set of tangible and intangible service or product that a Company provides that clearly differentiates among the various Companies belonging to the same industry. Johnson (2013) pointed out a number of sub activities that supports a firms value chain design that ultimately helps in the creation of customer benefit packaging. These are: Direct activities: The activities which are directly created by the Companies to attract more consumers and create a comparative advantage in the consumers market are direct activities. These activities include, promotional and advertisement strategies. These activities are sometimes carried out intensely to fight against the competition in the market (Holweg and Helo 2014). For instance, for both Tesltra and Samsung, promotion by the means of advertisement and promotional activities holds great importance. The company has also focused on directly engaging the consumers with the Company as a part of their marketing and creation of value chain strategy. Samsung has their Priority Stores where customers can easily land up with their problems. Indirect activities: Marketing activities that include managing the sales of the product or keeping a record of the customers and designing the marketing strategy in a way to attract more consumers falls under indirect activities (Shashi and Shabani 2016). In fact, these activities require a detailed analysis of the market situation and the competitors present in the same industry. In case of Telstra, it has to be said that the Company always focuses on the presence of its competitors and design their service to attract more consumers (Bandarian 2012). In addition to this, Samsung carries out great market analysis practices to understand their position in the market. Quality assurance: Another vital point that helps to improve the value chain of the products or services offered by a particular company is by assuring quality service and product to the consumer base. Providing good quality services to match the expectation of the consumers as well as to fight the odd challenges in the market falls under the criteria of meeting the quality of service (Khosrow-Pour 2016). It has been observed that Telstra carries out market research to understand the changing demand of the consumers and provide best quality services to the consumer base. At the same time, if the case of Samsung is consider, it has to be said that it is a Global Company and in order to make a strong customer base globally, the company keeps conducting market research to meet the expectations of the consumer base. C. Comparison of value chain design and structure: The value chain design of Samsung mobile is meant for support and other primary business activities. The support activities include the firms infrastructure and other technological developments which are necessary for attracting more consumers. Product diversification: If the value chain design of Samsung is compared with that of Tesltra, it has to be said that Telstra is more focused on the diversification of the products. It has been observed that more focus is made on product diversification (Lukinskiy et al. 2014). There is no such scope for Telstra to modify or make diverse products. Therefore, it can be said that Samsung enjoys the the advantage of this value chain. Quality based management: Both the telecommunication companies focus on improving their business quality. As pointed out by Shashi and Shabani (2016) that Samsung being in a competitive business environment, have to focus greatly on the managing their quality of service. At the same time, Telstra also focus on improving its quality by providing better quality of internet and other telecommunication services to their consumers. Hybrid management system: One of the most influential value chain designs of Samsung is the Hybrid Management system of the Company. On the basis of this management system, the company focuses more on the Western market (Medudula 2016). It has to be mentioned here that Samsung is a global company but Telstra is not. Therefore, a hybrid management system that Samsung follows is indeed an efficient tool of management for Samsung but the same is not applicable for Telstra. Telstra has to focus on the market of Australia for its business operation. With this analysis, it can be said that the mode of operation of both the companies taken into consideration is different and it is for the same reason, their value chain design and structure is bound to be diverse. However, these designs are made to match with their business strategies and thus, they are rightly applicable to their respective businesses. Conclusion: It has been observed that the two companies in spite of operating in the same industry have different value chain designs and supply chain. This is evident because in case of Telstra, the Company mainly has to deal with government regulations to provide service to the consumers. Thus, there remains less scope and opportunity for the company to create customer value. On the other hand, Samsung has to directly deal with the customers and there remains greater opportunities of carrying out different types of value chain designs and activities to create huge customer base. However, both the companies have designed their value chain quite effectively and have been found to operate successfully in their business. Reference list: Bandarian, R., 2012. Exploiting value chain process concepts in research organisations.International Journal of Value Chain Management,2(3), pp.400-416. Erlach, K., 2013.Value stream design(pp. 97-229). Springer Berlin Heidelberg. Frazelle, E., 2012.Supply chain strategy: the logistics of supply chain management. McGrraw Hill. Hamilton, J. and Selen, W., 2016. Service value encounters in the virtual service value chain: a conceptual framework.International Journal of Value Chain Management,1(2), pp.139-158. Hoerl, R., 2004. One perspective on the future of Six-Sigma.International Journal of Six Sigma and Competitive Advantage,1(1), pp.112-119. Holweg, M. and Helo, P., 2014. Defining value chain architectures: Linking strategic value creation to operational supply chain design.International Journal of Production Economics,147, pp.230-238. Johnson, M.E., 2012. Product design collaboration: capturing lost supply chain value in the apparel industry.Tuck School of Business Working Paper, (02-08). Khosrow-Pour, M., 2006.Emerging trends and challenges in information technology management. Idea Group. Lukinskiy, V., Lukinskiy, V. and Churilov, R., 2014. Problems of the supply chain reliability evaluation.Transport and Telecommunication Journal,15(2), pp.120-129. Medudula, M.K., Sagar, M. and Gandhi, R.P., 2016.Telecom Management in Emerging Economies. Springer India. Singh, R. and Shabani, A., 2016. Value?Adding Practices in Food Supply Chain: Evidence from Indian Food Industry.Agribusiness.