Relationship between Stocks Return and Rate of Inflation - Free Essay Example

Sample details Pages: 16 Words: 4750 Downloads: 8 Date added: 2017/06/26 Category Finance Essay Type Argumentative essay Did you like this example? The effect of inflation on the returns to financial assets has been an important issue for many years. Due to the occurrence of high rates of inflation in Pakistan, this effect is now of considerable practical importance. Inflation is one of the most influential macroeconomic variables, which has negative impact on economic activities. Don’t waste time! Our writers will create an original "Relationship between Stocks Return and Rate of Inflation" essay for you Create order It is important for an investor to be aware of the effects of inflation because if it gets out of hand, the plans may go down. In theory, stocks should be able to absorb the effects of inflation as revenue and earnings increase at the same velocity. Since multinational companies face global rivalry that may not have the same inflationary pressures but the companies that operate locally may have the different inflationary impacts. High increase in rates of inflation is dangerous for earnings of the firms and as consequence for stocks return. Decrease in stocks return eventually effects the decision of the investors. The inflationary destruction of purchasing power can convert an ultimate return which means that it does an investor nothing to earn on 10% when general prices also rise by 10%, as his net gain on purchasing power is zero. An investor invests in order to earn greater purchasing power to increase his standard of living, not to see nominal numbers grow. There is another c oncept which is being discussed by the researchers and is very close to the concept of stock return and inflation relationship is the common stock as a hedge against inflation. It can be defined as the effectiveness of common stocks as an inflation hedge means the extent to which stocks can be used to reduce the risk of real return of an investor which originates from uncertainty about the future level of general prices of consumption goods. It is worthwhile to indicate the relationship between this view of hedging against inflation. A security is an inflation hedge if it offers protection against inflation. In 1930 I. Fisher proposed a hypothesis that real interest rate is independent to the rate of inflation but according to the later researchers got different results. They found that there is a negative relationship between stock return and rate of inflation and common stocks are poor hedge against inflation. This study also conducted research on the bases of prior empirical e vidences and found contrary results as compare to fisher. Problem Statement The rate of return consists of real return plus rate of inflation and an anticipated or unanticipated move in inflation has no impact on common stocks return. Hypotheses Ho = Stocks return is independent to the rate of inflation Outline of the Study This paper is on Fisher Hypothesis, according to him the value of nominal return and inflation rate move together and as a consequence the value of real return remains stable in the long run. According to the principle of neutrality the inflation rate is increased by the rate at which money grows but this change has no impact on real variable. The impact of money on interest rates can be understood with this principle. Interest rates are always considerable for macroeconomists to understand the economy because they relate the future economy with the present economy through the savings and investments made in the present. To understand the Fisher Hypothesis properly, it is essential to understand the concepts of nominal rate and real rate. The nominal rate is the interest rate which we usually get to hear from the banks. The real rate is the corrected interest rate value of nominal rate after considering the impact of inflation. In other words the real rate is obtained by subt racting the expected inflation rate from the nominal rate.   Linter (1975) and Bodie (1976) found negative relation between actual equity returns and actual inflation. Fama and Schwert (1977) divided inflation into anticipated and unanticipated inflation and found that both are negatively related to stock returns. The empirical evidence of Jaffe and Mandelker (1976), Nelson (1976), and Oudet (1973) reveals that real stock returns are badly affected by both the anticipated and unanticipated inflation rate. This evidence is conflicting with the classical view of Irving Fisher. These empirical evidences have encouraged further theoretical research in relation between stock returns and the rate of inflation. This researches analysis is also based on the broader literature on stock return and inflation relationship. Research over the data of last decade has generated strong evidence that real return is not independent to the rate of inflation and there is negative relationsh ip between stock return and rate of inflation. Definitions Stock Return Return that an investor is able to get on common stocks is called stock return. For the sake of analysis we calculate it as change in market capitalization divide by previous year market capitalization. Market capitalization is a product of number of shares floated in market and market prices of a share. Inflation Rate An increase in prices of goods and services in an economy over a period of time is called inflation. When the price level increases, each unit of currency buys fewer goods and services; as a consequence inflation results as decline in the real value of money or we can say a loss of purchasing power. A stable condition of inflation not only provides a nurturing environment for the growth of economy, but also supports the poor and fixed income people who are suffering in the most vulnerable condition in the society. CHAPTER 2: LITERATURE REVIEW The following literature is based upon the previous studies which have examined the relationship between stock return and rate of inflation. Since inflation is an influential variable and it also explains the purchasing power of people so following some researches that had been done on the impact of inflation on stock return [Fama (1981), Firth (1979), Lintner (1975), Jaffe Mandelker (1976), and Nelson (1976)] this paper will test the data of Pakistani market. Jaffe Mandelker (1976) tested the vital hypothesis that the real rate of return is independent to the expected rate of inflation this hypothesis is called the Fisher effect. The analysis showed a negative relationship between the stock returns and rates of inflation, it was also found that there was a positive relationship between these two variables over a much longer period of time. The implication of this empirical study was hidden until the effects of anticipated and unanticipated rates of inflation were separated. H owever, the relationship between the anticipated rate of inflation and the returns to risky assets has been examined in less depth. Jaffe and Mandelker (1976) reveal that the returns on stocks appear to be significantly negatively related to the anticipated rate of inflation, a finding inconsistent with the Fisher effect and possibly suggestive of market inefficiency. Nelson (1976) tested the hypothesis that expected rates of return consist of a real return plus the expected rate of inflation and the real return does not move systematically with the rate of inflation. The results obtained didnt agree with the Fisher hypothesis but to some extent suggests that Nelson (1976) a negative relation between returns and both anticipated rates of inflation and unanticipated changes in the rate of inflation has prevailed over the post-war period. This was also found that rate of return on common stocks were negatively correlated with the rate of inflation over short periods of time. A comm on stock can be considered as a claim to present and future money, and to present and future goods. A claim to future money is negative if a company is a net debtor. Lets assume that if the expected rate of inflation changes, there will be no change in the present value of future goods or of present goods and money on the spot when the forecast changes. Its just the value of future money which was changed. To the level that a common stock represents claims to future money, its value ought to change when the forecasted rate of inflation changes. Sharpe (2000) proposed the hypotheses that expected inflation has no effect on required real returns, expected inflation should have no effect on the price-earnings ratio, once we control for expected real earnings growth. An increase in inflation depresses equity valuations since higher inflation is linked with lower real earnings growth outlook. Bodie (1976) also reveal that the real return on equity is negatively related to both anti cipated and unanticipated inflation, at least in the short run. It was felt by the Fisher that the real and monetary sector of the economy is basically independent. Thus, he proposed the hypotheses that the anticipated real return is determined by real factors, for example the productivity of capital, time preferences of investor, and tastes for risk, and that the anticipated real return and the anticipated inflation rate are unrelated. This assumption allows to analyze asset return and inflation relationships. Non-inflationary factors can cause variation in nominal returns that can be large or small comparative to the variation in nominal returns linked with the anticipated and unanticipated inflation rate. According to Fama (1981) Common stocks return are negatively related to the expected and unexpected inflation rate. Some of the variation in stocks return is due to their negative measured relationships with anticipated and unanticipated inflation rate. The negative relation of stock returns with anticipated inflation rates doesnt account for a large segment of the variation in stock returns, and it doesnt give the impression to imply profitable trading rules. According to the proposition that stocks provide a hedge against inflation implies that real value of stocks remain unchanged when the stock prices rise at a sufficient rate. There is some consent on how the inflation affects nominal or real earnings of an organization some authors say earnings grow in real terms because of the inflation. Oudet (1973) argue that there is a negative effect of inflation on stock returns during the period of inflation. Lets take an example that stock prices increases at the beginning of the inflationary period so the investors finally will expect that prices will be return to a lower level. At this point if the investors require a higher return on their money invested to reimburse for inflation, investors will bid down the prices of stock even further. Oudet (1973) s aid that stock prices catch up with rates of inflation in the long run, the reduced form was reestimated including twenty lags of the inflation rate. The whole effect of inflation on stock returns is negative. Gultekin (1983) studied behavior of stock return in the periods of high inflation in twenty six countries and found contrary results to the Fisher Hypothesis, which tells that real rates of return on stocks and anticipated inflation rates are independent and the nominal stock returns have variation in one-to-one associated with anticipated inflation. There is an unchanged lack of positive relation between the both stock returns and inflation in most of the studied countries of the countries. It is found that low value of stocks during the periods of high inflation is a result of the failure of investors to adjust organizations profits for the inflation premium component of interest expense (that, they argue, shows a return of capital instead of an expense), and from the cap italization of organizations profits at the nominal rate (instead of the notionally corrected real rate) of interest. The tax laws also make the stock prices sensitive to alter in the anticipated rate of inflation in the non-financial organizations. The management of the money supply by the government in order to get control over the output of the economy also provides inflation a direct impact on the stock pricing system. So the inflation is more than a monetary phenomenon in this framework. The literature on real returns and inflation often shows the differences between anticipated and unanticipated inflation. According to Day (1984) It has been observed empirically, the current rate of inflation and the ex post real returns on securities are negatively related. The implications of this explanation are constant with the hypothesis tested empirically by Fama, which tells that the negative relation of real stock returns and unanticipated inflation is the result of a proxy effect for the more essential determinants of real stock values. The analysis tells a functional form for the relationship between real stock returns and these essential economic variables. This form is of specific interest because it explains ex post real returns in terms of economic variables that are observable. The expected inflation rate is defined as the expected annual rate of change. Horne and Glassmir (1972) says that If the prices, wages, and other costs change exactly in keeping with the unanticipated change in inflation, share value is unaffected by the operating earnings term. It means any alteration in the value of an unanticipated change in inflation would be explained by the firm is a net debtor or net creditor and by the tax impact of anticipated depreciation charges. Since these factors has importance than leads or lags in prices as compare to wages and other costs, their mutual effects on value would be only moderate. In many cases, the lead or lag explains the direct ion of the alteration in stocks value that accompanies an unexpected alteration in inflation. So whether or not wages and other costs lag prices in during the periods of inflation has a profound impact on the performance of stock price. Luintel and Paudyal (2006) say that common stocks are expected to hedge against inflation therefore, in an efficient market, return on common stocks ought to keep pace with the inflation rate. According to Luintel and Paudyal (2006) there is a relationship between stock and goods price indexes in both aggregate and disaggregate (industry) data. Commodity price elasticity is also above the unity in overall market index. These facts of above unity elasticity are constant with the Fishers tax-augmented version; that is, the stocks return should exceed the inflation rate to compensate for the loss in the real wealth of the investors who pay taxes. Therefore common stocks are expected to hedge against inflation. An important reason to expect a relat ionship between stock returns and unanticipated inflation is that unanticipated inflation brings new information regarding the future levels of anticipated inflation. Fama (1981) says that fluctuation in the structure of interest rates shows to be subjective by inflationary expectations. For the future if expectations of inflation are higher, current nominal interest rates are expected to increase so that expected real interest rates might not be affected by the level of anticipated inflation. An unanticipated rise in anticipated inflation has a big impact on value the longer the time to maturity of the debt, and it results in the transfer of wealth from bond-holders to stockholders. Same effects occur for the value of other long-term fixed price contracts. Precisely, when it seems that stock returns are significantly negatively affected in the 15 trading days adjoining the announcement of unanticipated inflation of the Consumer Price Index (CPI), it doesnt show that this effect occ urs initially on or before the date of announcement. Schwert (1981) says that this situation might indicate that there is both leakage of information before the formal announcement, and an inefficient, slow response by the stock market following the announcement. Fishers great work has been a major landmark in the field of economic research because first time in the history he worked on the fundamental relations between prices, returns, borrowing and lending, and real investment decisions when many researchers simultaneously pursued their own self interest in purely competitive markets. Following to the Fisher, Linter (1975) proposed a hypotheses that during the period in which inflation rates are increased, even a continuance of higher constant steady-state rates of inflation will leave the anticipated real rates of return on common stocks just as high as it was before the inflationary period and anticipated nominal rates of returns will also be higher. In the results he found t hat nominal and the real rates of return on common stocks are negatively and very significantly related to inflation rates. There are many evidences that stock returns and inflation are negatively related. Bodie (1976), Jaffe and Mandelker (1976), Nelson (1976), and Famas article with Schwert (1977) reported negative relations between stock returns and both the anticipated and unanticipated components of inflation. Fama (1981) proposed hypothesis that the negative relationship between stock returns and inflation are surrogating for positive relations between stock returns and real variables that are more fundamental determinants of equity values. The negative relationship between stock returns and inflation are influenced by negative relationship between inflation and real activity which is defined by a combination of theory of money demand and the quantity theory of money. Sine it is predicted by the surrogated effect hypothesis of Fama (1981), the more inconsistent of the stock return and inflation relations dissipate when both real variables and measures of anticipated and unanticipated inflation are used to define stock returns. In a nut shell, the story proposed is a union of intellectual prospective for the real and monetary sectors. The model of the monetary sector represents that in pricing of goods and services, markets of goods do rational assessments of the present nominal monetary supply and real activity of future. The theory of the monetary sector is a combination of theory of money demand with an examination of the characteristics of the money supply process then it intimates negative relationship between inflation and future rates of growth of real activity. The theory of the real sector intimates that there is a positive relation between stock returns and anticipated growth rates of real activity. The positive relationship between stock returns and real activity that comes from the real sector incorporate with the negative relationship betw een inflation and real activity that come from the monetary sector to provoke fake negative relationship between stock returns and inflation. Marshall (1992) has studied the CO-MOVEMENTS OF REAL asset returns, inflation, and money growth extensively. He found significantly negative correlation between real equity returns and inflation. This reality is not particularly unexpected; many studies come to a conclusion that the correlations between ex ante real asset returns and anticipated inflation are also negative. Contrary to these patterns, the correlation between money growth and real equity returns is found weakly positive, whereas the correlation between money growth and the real bond return is found zero. CHAPTER 3: RESEARCH METHODS 3.1 Method of Data Collection In collection of data there are two sources available i.e. primary data source and secondary data source. In this research secondary data has been used. In analysis for this paper Secondary data is gathered from journal articles, research papers and electronic media. Data for monthly inflation rate is collected from Economic Survey of Pakistan which is fairly represented by the Consumer Price Index (CPI). Data of market capitalization of cement sector of Pakistan was needed for the calculation of stock return. This data is collected from the website of Business Recorder. Firth (1979) worked on the data of rates of inflation for the period 1955-1976. The percentage monthly stock market returns were obtained from the London Business School share price databank. Monthly Index of Retail Prices (I.R.P.) measured the inflation rate and to check the results the Wholesale Price Index was also used. Nelson (1976) also worked on the monthly stock returns consist of the Scholes Index of value-weighted returns for the period January 1953 to December 1972 and the stock returns of the Standard and Poors 500 Index for January 1973 to June 1974. Jaffe Mandelker (1976) employed the Lawrence Fisher Index to measure the return on the market. LFI is an equally-weighted portfolio of all securities listed on the New York Stock Exchange. Consumer Price Index (CPI) was used as the measure of the price level and to check, some of the results were duplicated with the Wholesale Price Index (WPI). The bulk of the study employed monthly data from January 1953 to December 1971. The stock return on the market for this latter sample was taken from the Cowles Series Data and the Standard and Poors Index. 3.2 Sample Size Monthly data from January 1999 to December 2008 has been used in this study. The sample size is 120 observations (N=120). 3.3 Research Model Developed The data was put into SPSS (statistical package for social sciences) and analyzed by using General Liner Model to find out the relationship between stock return and rate of inflation. Here dummy variable is required due to the jumping data which means that at some places stocks return was showing abnormal behavior. In this analysis 1 is assigned to the data which is showing abnormal behavior and 0 is assigned to the data which is showing normal behavior. R = ÃÆ'Ã… ½Ãƒâ€šÃ‚ ± + ÃÆ'Ã… ½Ãƒâ€šÃ‚ ²1I + ÃÆ'Ã… ½Ãƒâ€šÃ‚ ²2[Dummy] + e Where R = Stock return I = Rate of inflation B= Beta Dummy= Variable used to get better results e= Error term 3.4 Statistical Technique To analyze the relationship between stock return and rate of inflation Multiple Linear Regression has been used. This technique is used to assess the relationship between one dependent variable and several independent variables. It measures that how strongly each independent variable predicts the dependent variable. We also use correlation technique to find out what sort of relationship exists between stock return and rate of inflation whether it is positive or negative. Jaffe Mandelker (1976), Nelson (1976), Fama (1981), Linter (1975) and Firth (1979) used regression model to study the relationship between stock return and rate of inflation. In statistics, regression analysis has ability for modeling and analyzing several variables, when the focus of the study is on the relationship between a dependent variable and one or more independent variables. More specifically, regression analysis helps to understand how the typical value of the dependent variable changes when any one o f the independent variables shows any variation. CHAPTER 4: RESULTS 4.1 Findings and Interpretations of the Results Descriptive Statistics Mean Std. Deviation N Stock Return 3.1173 14.51389 120 Inflation Rate 7.0845 5.19841 120 Dummy .0417 .20066 120 Total number of observations is 120. Dummy consists of two categories in which 115 are showing normal behavior and 5 are showing abnormal behavior. Abnormal behavior means different behavior of stocks return due to some fundamental factors. Correlations Stock Return Inflation Rate Stock Return Pearson Correlation 1 -.228* Sig. (2-tailed) .012 N 120 120 Inflation Rate Pearson Correlation -.228* 1 Sig. (2-tailed) .012 N 120 120 *. Correlation is significant at the 0.05 level (2-tailed). Here we examine the relationship between stocks return and rate of inflation. This table shows that there is a significant negative relationship between the two variables (r = -0.228, P 0.000). ANOVAb Model Sum of Squares df Mean Square F Sig. 1 Regression 1298.754 1 1298.754 6.448 .012a Residual 23768.954 118 201.432 Total 25067.708 119 It can be viewed that the value for regression sum of square is smaller than the value for the residual sum of square and as the value of the regression is smaller than the residual, showed that the independent variables cannot accounted for most of the variation in the dependent variable. The F ratio in the Analysis of Variance 6.448 and significant p value is 0.012. This provides evidence of existence of a linear relationship between the dependent variable (stocks return) and the independent variables (inflation). Coefficientsa Model Unstandardized Coefficients Standardized Coefficients t Sig. B Std. Error Beta 1 (Constant) 6.153 1.835 3.354 .001 Inflation Rate -.661 .208 -.237 -3.182 .002 Dummy 39.604 5.386 .548 7.354 .000 a. Dependent Variable: Stock Return Equation Stocks Return = 6.153 0.661 (Inflation) 39.604 (0 , 1) + e Model Summaryb Model R R Square Adjusted R Square Std. Error of the Estimate Durbin-Watson 1 .593a .352 .340 11.78716 2.124 a. Predictors: (Constant), Dummy, Inflation Rate b. Dependent Variable: Stock Return It can be seen that the value of R obtained for the data results is 0.593, which is a high and near to +1. This shows a strong relationship between the dependant and independent variables. R Square (coefficient of determination) is the proportion of variation in the dependent variable explained by the regression model. Larger values of R square indicate the model fits the data well and it can be obtained by squaring the value of R. Since the R squared value for our data set is 0.352which is low value. Furthermore it can be obtained that 35.2 % of the total variation is explained by the independent variables. Reason behind the low value of adjusted R square is that there are many other factors that affect the stocks return but since our focus is on inflation so this low value is acceptable for us. According to the Jaffe Mandelker (1976) there is a significant negative relationship between stock return and rate of inflation, although the coefficient of determination is found low. It recommends that the stock market is not a good hedge against inflation. According to this condition the investors whose real wealth is decreased by high inflation can expect that this effect can be compounded because of a lower return on the stock market. This point is also considerable that one should distinguish between anticipated and unanticipated inflation in order to correctly measure the relationship. Fama (1981) rejected the hypothesis that common stocks are good hedge against anticipated monthly inflation rate because it is found that there is negative relationship between stock return and rate of inflation. 4.2 Hypotheses Assessment Summary Hypothesis: Ho = Stocks return is independent to the rate of inflation Hypothesis is rejected because all the values are significant. Correlation: Ho = stocks return and inflation are not correlated (r = -0.228, P 0.000) Regression: Value of R square and adjusted R square R square = 0.352 and adjusted R square = 0.34 In this paper it is hypothesized that stocks return is independent to the rate of inflation. The results reject the hypothesis and shows that there is a significant negative relationship between stocks return and rate of inflation. The low value of R square shows that there are many other factors that affect stock return. Jaffe Mandelker (1976), Nelson (1976), and Linter (1975) also found negative relationship between stocks return and rate of inflation. They revealed that stocks return are badly affected by inflation. These findings are inconsistent with the Fisher effect. CHAPTER 5: DISCUSSIONS, CONCLUSION, IMPLICATIONS AND FUTURE RESEARCH 5.1 Conclusion After analyzing the researches done in U.S. and U.K. we test the relationship between stocks return and rate of inflation in the Pakistani market. Due to the high rates of inflation in Pakistan, this relationship is now of considerable practical importance. Inflation has negative impact on economic activities so every investor should be careful about it. In this paper we test ten years data of stocks return and rate of inflation through multiple regression and found a negative relationship between stock return and rate of inflation. The empirical evidence of Bodie (1976), Fama and Schwert (1977), Jaffe and Mandelker (1976), Nelson (1976), and Linter (1975) suggests that real stock returns are badly affected by both the anticipated and unanticipated components of inflation rate. This evidence is different from the classical view of Irving Fisher. The low value of adjusted R square shows that there are many other factors that affect the stocks return but since our researchs focus was on inflation rate therefore we avoid considering other variables. 5.2 Discussion Every investor wants to make a secure investment and for this purpose a term Hedge is used. Hedge means to reduce the risk of an investment. The effectiveness of common stocks as an inflation hedge means the extent to which they can be used to reduce the risk of an investors real return. For common stocks to qualify as an inflation hedge they must be free of downside risk stemming from all sources, not just from inflation. Another definition of the term inflation hedge as applied to common stocks can be expressed as follows: a security is an inflation hedge if its real return is independent of the rate of inflation. This is the definition employed by, Fama (1981), and Oudet (1973). Unanticipated increase in inflation rate and less than expected demand might create severe crises for the cement sector. Main component of the cost is fuel. Pakistans cement sector is facing problem of high prices of oil and coal which directly increase the cost of production. Inflation affects people s purchasing power which in turn decreases construction and other activities. Although cement sector of Pakistan is surviving through its exports but in Pakistan construction activities are slow. This situation compels the players of the sector to decrease their retail prices. Due to the mentioned problems profit of the sector has decreased which in turn will affect the stock return. 5.3 Implication and Recommendation The beneficiaries of this research are students who further study on the relationship between stock returns and rate of inflation in Cement Sector of Pakistan. Because there are many other variables which affect the common stocks return. As this research is based on 10 years monthly data of only one sector so the significance of this research still would not as contented as it would be. Whereas this research provides much deeper understanding of relationship between stocks return and rate of inflation in Cement capital Sector of Pakistan that how real return is affected by the changes in inflation. 5.4 Future Research

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The message is me my responding to an email I received about an upcoming event in which my wife, who owns a daycare center will possibly take her students. There was not an environment because the message was sent via email. The technology that is being used for this particular message is email. There was no noise with this message internally or externally. The feedback was rather quick and in the form of a response to a follow up question. The message and technology used to convey this message were appropriate give the environment and purpose. The content, media and technology of the feedback were appropriate as well for the purpose and audience. The purpose of message 3 which is listed as appendix C was to inform, to persuade, and to provoke me the receiver to take action. The receiver of the message is Mrs. Smith a group sales specialist. The sender in this message is I. The message is informing me of more detailed information of the upcoming event in which my wife, who owns a daycare center, will possibly take her students. The message was also meant to persuade me to act quickly in purchasing tickets. There was not an environment because the message was sent via email. The technology that is being used for this particular message is email. There was no noise with this message internally or externally. There was not any feedback. The message and technology used to convey this message were appropriate give the environment and purpose. The content, media and technology of the feedback were appropriate as well for the purpose and audience. Messages can inform the receiver, be persuasive or provoke the receiver to take action. A message is a type of communication between two or more individuals that expresses the sender’s intended message. When a message is receive, the receiver of the message should completely understand the intended message and uncover the objective of the sender. Appendix A Messages 1 Mrs. Smith to me Show details Oct 19 Hello Tony! Disney on Ice presents Princess Wishes is coming to the Mississippi Coliseum in Jackson, MS from December 9-12, 2010. We have a school show scheduled for Friday, Dec. 10 at 10:30 a. m. and would like to offer your students the opportunity to see this beautiful performance. Enter a world of wishes with your favorite Disney princesses in Disney on Ice presents Princess Wishes. Tinker Bell represents the magic of Disney, as she whisks you through a collection of enchanting and beloved Disney stories. Join Ariel as she yearns to explore the world above the waves. See Snow White find her one true love. Discover a whole new world with Jasmine. And, watch in wonder as the dreams of Cinderella, Belle, Aurora and Mulan all come true. Be sure to see this magical show where believing is just the beginning! I have attached a flyer for distribution to your staff and students at absolutely no cost to you. Simply distribute the information through e-mail or flyers and they contact me directly to order their tickets. Call now to ensure you, your staff and their families have the very best seats! I look forward to hearing from you soon! Mrs Smith Group Sales Specialist Feld Entertainment, Inc. 3012 US Hwy 301 N, Suite 700 Tampa, FL 33619 1-866-008-0000 x xx BSXXXXXks@FeldGroupSales. com Appendix B Messages 2 Joanne I would like to know when will be the last day for us to get the tickets at this price and can we buy all the ticket at one time. Please email me back and let me know. Tony Aron (Kidz First ECC) Appendix C Messages 3 Tony, The last day to order the discounted tickets will be one week before the show. The sooner you place the order, the better seats you will receive, though. Also, I recommend ordering all the tickets you need at one time because there is a single $5. 00 processing fee per order (not per ticket). If you have any more questions, please do not hesitate emailing me or you can call the toll free number on the flyer and speak with Bill, our specialist. How to cite Analyzing Messages Paper, Papers

Human Resource Management Leads Staff in a Clinic

Question: Discuss about the Human Resource Management for Leads Staff in a Clinic. Answer: 1: The initiative of Ambulance Service NSW is going to create a performance culture where a well-trained manager leads staff in a clinical and operational environment. This initiative will help frontline managers to develop skills to better manage staff and address their well-being issues. This initiative will assist the frontline manager to become more proactive in conflict resolution and maintain positive workplace culture (Iedema et al. 2015). Managers should be provided with P.T.S.D (post traumatic stress disorder) specific awareness program. The training program must incorporate stress awareness and stress risk assessment for the managers. During the training, they must be subjected to the stressful situation they have not encountered earlier. It will help support the frontline emergency ambulance crews suffering from PTSD. Additionally, the program must incorporate bereavement as well as debrief training as sometimes staffs are debriefed while attending PTSD cases (Peters et al. 2016). 2: The learning and development needs of the frontline operational staff to join NSW ambulance service include managerial support to develop clinical leadership skills. These staff needs to acquire specialised skills in rescue operations, intensive and extensive care, rapid response, medical retrieval and special casualty access as their ultimate objective is to safeguard the community (Devenish et al. 2015). The learning and development needs of the Customer service staff include excellent communication, good listening and interpersonal skills. They need to develop an ability to think quickly and respond as clients call in the high emergency situation for availing ambulance service. They need problem solving skills and pressure handling competencies to address customer issues (Iedema et al. 2015). References Devenish, S., Clark, M., Fleming, M. and Tippett, V., 2015. Australian paramedic graduates transitioning into UK NHS ambulance services: what are the potential challenges?.Journal of Paramedic Prcatice,7(10), pp.492-498. Iedema, R., Hor, S.Y., Wyer, M., Gilbert, G.L., Jorm, C., Hooker, C. and O'Sullivan, M.V.N., 2015. An innovative approach to strengthening health professionals infection control and limiting hospital-acquired infection: video-reflexive ethnography.BMJ Innovations, pp.bmjinnov-2014. Peters, K., Cunningham, C., Murphy, G. and Jackson, D., 2016. Helpful and unhelpful responses after suicide: Experiences of bereaved family members.International journal of mental health nursing.

The Philippine Clean Water Act of 2004 Essay Essay Example

The Philippine Clean Water Act of 2004 Essay Paper Introduction As an archipelago. the Philippines is surrounded with H2O. It ranks 4th with the longest coastline in the universe mensurating 36. 289 kilometer ( 22. 559 stat mis ) while its H2O country covers 1. 830 sq kilometer ( The World Factbook ) . The country’s H2O resources have played a important function in its development. However. some development attempts. combined with the lifting demands of the ever-increasing population. have caused harm to these H2O resources. In response. a jurisprudence was signed to â€Å"pursue a policy of economic growing in a mode consistent with the protection. saving and resurgence of the quality of our fresh. brackish and marine waters† ( Section 2 ) . Republic Act ( R. A. ) No. 9275 titled â€Å"An Act Providing for a Comprehensive Water Quality Management and for Other Purposes† . besides known as the Filipino Clean Water Act of 2004 ( CWA ) . was signed by former President Gloria Macapagal-Arroyo on March 22. 2004. It took consequen ce on May 6. 2004. with its Implementing Rules and Regulation ( IRR ) contained in the Department of Environment and Natural Resources ( DENR ) Administrative Order ( A. O. ) No. 2005-10. We will write a custom essay sample on The Philippine Clean Water Act of 2004 Essay specifically for you for only $16.38 $13.9/page Order now We will write a custom essay sample on The Philippine Clean Water Act of 2004 Essay specifically for you FOR ONLY $16.38 $13.9/page Hire Writer We will write a custom essay sample on The Philippine Clean Water Act of 2004 Essay specifically for you FOR ONLY $16.38 $13.9/page Hire Writer Coverage The jurisprudence applies to H2O quality direction in all H2O organic structures. It chiefly applies to the suspension and control of pollution from land-based beginnings. The H2O quality criterions and ordinances and the civil liability and penal commissariats under the jurisprudence shall be enforced irrespective of beginnings of pollution ( Section 3 ) . In add-on to modulating pollution of H2O organic structures. DENR shall explicate and use criterions for the conveyance and disposal of wastewater. sewerage and septage offsite. whether offshore or on land every bit good as disposal of single effluent on land. The Department of Agriculture ( DA ) shall develop guidelines for re-use of effluent for irrigation intents or as dirt conditioner or fertiliser ( Rule 3. 1 ) . Institutional mechanism The Department of Environment and Natural Resources ( DENR ) . as the primary bureau responsible for the execution of the CWA. shall take the lead in the readying. execution. and enforcement of the followers ( Rule 19 ) : National H2O quality position study – this study shall place ( a ) the location of H2O organic structures. their quality. taking into history seasonal. tidal and other fluctuations. bing and possible utilizations and beginnings of pollution per specific pollutant and pollution burden appraisal ; ( B ) H2O quality direction countries. and H2O categorization ( Rule 19. 1 ) . Integrated Water Quality Management Framework ( IWQMF ) – this may incorporate. but non limited to the followers: ( a ) appraisal of policies and institutional agreements and capacities relevant to H2O quality direction including the scheme of degeneration to LGUs ; ( B ) direction schemes ; ( degree Celsius ) sustainable funding schemes ; and ( vitamin D ) public presentation monito ring ( Rule 19. 2 ) . Water Quality Management Area ( WQMA ) Action Plan for each WQMA – includes. but non limited to. the undermentioned: ( a ) ends and marks including sewage or septage plan. ( B ) agenda of conformity to run into the applicable demands of this Act ; ( degree Celsius ) H2O pollution control strategies or techniques ; ( vitamin D ) H2O quality information and instruction plan ; e ) resource demand and possible beginnings ; degree Fahrenheits ) enforcement processs of the program and ( g ) wagess and inducements ( Rule 19. 3 ) Groundwater exposure mapping- the DENR through the Mines and Geosciences Bureau ( MGB ) shall print a national groundwater exposure map ( regulation 19. 4 ) . which means the identified countries of the land surface where groundwater quality is most at hazard from human activities and shall reflect the different grades of groundwater exposure based on a scope of dirt belongingss and hydro geological standards to function as usher in the protection of the grou ndwater from taint ( Section 4 T ) . Water quality guidelines – these shall reflect the latest scientific cognition on the undermentioned affairs: ( a ) effects of pollutants on public wellness. biological diverseness. aquatic life. productiveness and stableness. including information on the factors impacting rates of eutrophication and rates of organic and inorganic deposit for changing types of waterways. bio-accumulation of chemicals ; ( B ) concentration and dispersion of pollutants including of course happening pollutants in extremely mineralized countries. through physical. chemical and biological procedures ; pollution burden may besides be used together with the concentration strategy ; and ( degree Celsius ) good utilizations of the receiving H2O organic structure ( Rule 19. 5 ) . Effluent criterions – means any legal limitation or restriction on measures. rates. and/or concentrations or any combination thereof. of physical. chemical or biological parametric quantities of wastewater which a individual or point beginning is allowed to dispatch into a organic structure of H2O or land ( Section 4 N ) . Procedures for trying and analysis of pollutants – the DENR shall follow alternate internationally recognized trial processs for trying and analysis of pollutants ( Rule 19. 7 ) . Accreditation system of research labs – the DENR. in coordination with DOST. DTI. DOH. and other concerned bureaus. academia. professional associations. and private sector. shall explicate. maintain. and pull off a system of accreditation for research labs ( Rule 19. 8 ) . Classs of point and non-point beginnings – the DENR shall publish and print guidelines on the ( a ) designation and rating of the nature and extent of non-point beginnings of pollution ; and ( B ) processes. processs. and methods to command pollution ensuing at that place from ( Rule 19. 9 ) . Point beginning means any identifiable beginning of pollution with specific point of discharge into a peculiar H2O organic structure ( Section 4 aa ) . Non-point beginning – means any beginning of pollution non identifiable as point beginning to include. but non be limited to. overflow from irrigation or rainwater. which picks up pollutants from farms and urban countries ( subdivision 4 omega ) . Categorization of groundwater beginnings – The Environmental Management Bureau ( EMB ) of DENR shall organize with the NWRB and other relevant bureaus in the categorization of groundwater beginnings. ( Rule 19. 10 ) . Categorization and re-classification of H2O organic structures – All H2O organic structures shall be classified harmonizing to their possible good use. taking into history. among. others. the undermentioned: ( a ) bing quality of the organic structure of H2O ; ( B ) size. deepness. surface country covered. volume. way. rate of flow and gradient watercourse ; ( c ) most good existing and future usage of said organic structures of H2O and lands surrounding them. such as for residential. agricultural. aqua cultural. commercial. industrial. navigational. recreational. wildlife preservation and aesthetic intents ; and ( vitamin D ) exposure of surface and groundwater to taint from polluted and risky wastes. agricultural chemicals and belowground storage armored combat vehicles of crude oil merchandises ( Rule 19. 11 ) Information and airing runs – these cover the effects of H2O pollution on wellness and environment. H2O quality direction. and resource preservation and recovery to promote an environmentally action-oriented society in coordination with other authorities bureaus ( Section 19 N ) . On the other manus. the Local Government Units ( LGUs ) are responsible in the direction and betterment of H2O quality within their territorial legal powers. Each local authorities unit shall. through its Environment and Natural Resources Office ( ENRO ) established in Republic Act No. 7160. have the undermentioned powers and maps ( Section 20 ) : a ) Monitoring of H2O quality ; B ) Emergency response ;degree Celsius ) Conformity with the model of the Water Quality Management Action Plan ; vitamin D ) To take active engagement in all attempts refering H2O quality protection and rehabilitation ; and e ) To organize with other authorities bureaus and civil society and the concerned sectors in the execution of steps to forestall and command H2O pollution. Furthermore. the DENR and the LGUs. in coordination with the appropriate authorities bureaus. And in audience with the concern and industrial sectors including commercialism. shall explicate appropriate inducements for the acceptance procedures that will continue and protect our H2O organic structures through the debut of advanced equipment and processes that cut down if wholly extinguish discharge of pollutants into our H2O organic structures ( Section 21 ) . The Department and its concerned affiliated bureaus including the Laguna Lake Development Authority ( LLDA ) shall organize and come in into understanding with other authorities bureaus. industrial sector and other concerned sectors in the promotion of the aims of this Act- The undermentioned bureaus shall execute tile maps specified hereunder ( Section 22 ) : a ) Philippine Coast Guard in coordination with DA and the DENR shall implement for the enforcement of H2O quality criterions in marine Waterss. set pursuant to this Act. specifically from offshore beginnings ; B ) The Department of Public Works and Highways ( DPWH ) through its affiliated bureaus. such as the Metropolitan Waterworks and Sewerage System ( MWSS ) . Local Water Utilities Administration ( LWUA ) . and including other urban H2O public-service corporations for the proviso or sewage and sanitation installations and the efficient and safe aggregation. intervention and disposal of sewerage within their country of legal power ; degree Celsius ) the Department of Agriculture ( DA ) . shall organize with the DENR in the preparation of guidelines for the re-use of effluent for irrigation and other agricultural utilizations and for the bar. control and suspension of pollution from agricultural and aquaculture activities. the Bureau of Fisheries and Aquatic Resources ( BFAR ) of the DA shall be chiefly responsible for the bar and control of H2O pollution for the development. direction and preservation of the piscaries and aquatic resources ; vitamin D ) The Department of Health ( DOH ) shall be chiefly responsible for the announcement. alteration and enforcement of imbibing H2O quality criterions ; e ) The Department of Science and Technology ( DOST ) . in coordination with the Department and other concerned bureaus. shall fix a plan for the rating. confirmation. development and public airing of pollution bar and cleaner production engineerings ; and f ) The Department of Education ( DepEd ) . Commission Higher Education ( CHED ) . Department of the Interior and Local Government ( DILG ) and Philippine Information Agency ( PIA ) shall help and organize with the Department in. the readying and execution of a comprehensive plan pursuant to the aims of this Act. The DENR. in coordination with the Departm ent of Science and Technology ( DOST ) . other concerned bureaus and academic research establishments. shall set up a national research and development plan for the bar and control of H2O pollution. As portion of said plan. the DOST shall carry on and advance the coordination and acceleration of research. probe. experiments. preparation. study and surveies associating to the causes. extent. bar and control of pollution among concerned authorities bureaus and research establishments ( Section 24 ) . National H2O quality direction fund A National Water Quality Management Fund to be administered by the DENR. in coordination with other concerned bureaus. as a particular history in the National Treasury. is established and to be used to finance the followers ( Section 9 ) : a ) Finance containment and clean-up operations of the authorities in H2O pollution instances ; B ) Guarantee Restoration of ecosystems and rehabilitation of affected countries ; degree Celsius ) Support research. enforcement and monitoring activities ; vitamin D ) Provide proficient aid to the implementing bureaus ; vitamin E ) Grant wagess and inducements ; degree Fahrenheit ) Support information and educational run ; and g ) Such other expenses made entirely for the bar. control or suspension of H2O pollution and direction and disposal of the direction countries in the sums authorized by the Department. In add-on. the Area Water Quality Management Fund is established for the care and care of the H2O organic structures in a H2O quality direction country. The fund shall be utilized for the grant of wagess and inducements for entities whose outflowing discharges are better than the H2O quality standards of the mark categorization of the having organic structure of H2O. loans for acquisitions and fixs of installations to cut down measure and better quality of effluent discharges. and regular care of the H2O organic structures within the direction country ( Section 10 ) . Water pollution licenses and charges A effluent charge system in all direction countries will be implemented. Effluent charges shall be established taking into consideration the followers ( Section 13 ) : a ) To supply strong economic incentive for defilers to modify their production or direction procedures or to put in pollution control engineering in order to cut down the sum of H2O pollutants generated ; B ) To cover the cost of administrating H2O quality direction or betterment plans ; degree Celsiuss ) Reflect amendss caused by H2O pollution on the environing environment. including the cost of rehabilitation ; vitamin D ) Type of pollutant ; vitamin E ) Categorization of the receiving H2O organic structure ; and degree Fahrenheit ) Other particular properties of the H2O organic structure. The discharge license. stipulating. among others. the measure and quality of wastewater that said installations are allowed to dispatch into a peculiar H2O organic structure. conformity agenda and monitoring demand shall be the legal mandate from the DENR to dispatch effluent ( Section 14 ) . Prohibited Acts of the Apostless The undermentioned Acts of the Apostless are herewith prohibited ( Section 27 ) : a ) Discharging. lodging or doing to be deposited stuff of any sort straight or indirectly into the H2O organic structures or along the borders of any surface H2O. where. the same shall be apt to be washed into such surface H2O. either by tide action or by storm. inundations or otherwise. which could do H2O pollution or hinder natural flow in the H2O organic structure ; b ) Discharging. injecting or leting to ooze into the dirt or sub-soil any substance in any signifier that would foul groundwater. degree Celsius ) Operating installations that discharge regulated H2O pollutants without the valid required licenses or after the license was revoked for any misdemeanor of any status therein ; vitamin D ) Disposal of potentially infective medical waste into sea H2O by vass unless the wellness or safety of persons on board the vas is threatened by a great and at hand hazard ; e ) Unauthorized conveyance or du mping into sea Waterss of sewerage sludge or solid waste as defined under Republic Act No. 9003 ; degree Fahrenheit ) Transport. dumping or discharge of forbidden chemicals. substances or pollutants listed under Republic Act No. 6969 ; g ) Operate installations that discharge or let to ooze. wilfully or through gross carelessness. forbidden chemicals. substances or pollutants listed under R. A. No. 6969 into H2O organic structures or wherein the same shall be apt to be washed into such surface. land. coastal. and marine H2O ; H ) Undertaking activities or development and enlargement of undertakings. or runing wastewater/sewerage installations in misdemeanor of Presidential Decree. No. 1586 and its implementing regulations. and ordinances ; I ) Dispatching regulated H2O pollutants without the valid required discharge license pursuant to this Act or after the license was revoked for any misdemeanor of status therein ; J ) Non-compliance of the LGU with the Water Quality Framework and Management Area Action Plan. In such a instance. countenances shall be imposed on the local authorities functionaries concerned ; K ) Refusal to let entry. review and monitoring by the Department in conformity with this Act ; cubic decimeter ) Refusal to let entree by the Department to relevant studies and records in conformity with this Act ; m ) Refusal or failure to subject studies whenever required by the Department in conformity with this Act ; n ) Refusal or failure to denominate pollution control officers whenever required by. the Department in conformity with this Act ; and o ) Directly utilizing supporter pumps in the distribution system or fiddling with the H2O supply in s uch a manner as to change or impair the H2O quality. Fines. amendss and punishments Fines. amendss and punishments to be filed by the DENR Secretary. upon the recommendation of the Pollution Adjudication Board ( PAB ) . include ( Section 28 ) : For any individual perpetrating any of the forbidden Acts of the Apostless or go againsting any of the proviso of the jurisprudence or its IRR – non less than Ten 1000 pesos ( P10. 000. 00 ) nor more than Two 100 thousand pesos ( P200. 000. 00 ) for every twenty-four hours of misdemeanor ( to be increased by 10 per centum ( 10 % ) every two ( 2 ) old ages to counterbalance for rising prices and to keep the deterrent map of such mulcts ) ; closing. suspension of development or building. or surcease of operations or. where appropriate disjunction of H2O supply. until such clip that proper environmental precautions are put in topographic point and/or conformity with this Act or its regulations and ordinances are undertaken. Failure to set about clean-up operations. wilfully. or through gross carelessness – imprison ment of non less than two ( 2 ) old ages and non more than four ( 4 ) old ages and a all right non less than Fifty thousand pesos ( P50. 000. 00 ) and non more than One hundred 1000 pesos ( P100. 000. 00 ) per twenty-four hours for each twenty-four hours of misdemeanor. Failure or refusal to set about clean-up operations which consequences in serious hurt or loss of life and/or irreversible H2O taint of surface. land. coastal and marine H2O – imprisonment of non less than six ( 6 ) old ages and one twenty-four hours and non more than 12 ( 12 ) old ages. and a mulct of Five Hundred Thousand Pesos ( P500. 000. 00 ) per twenty-four hours for each twenty-four hours during which the skip and/or taint continues. For gross misdemeanor ( includes: ( a ) deliberate discharge of toxic pollutants identified pursuant to Republic Act No. 6969 in toxic sums ; ( B ) five { 5 ) or more misdemeanors within a period of two ( 2 ) old ages ; or ( degree Celsius ) blatant neglect of the orders of the PAB. such as the non-payment of mulcts. breakage of seals or runing despite the being of an order for closing. discontinuation or surcease of operation ) – with a mulct of non less than Five 100 thousand pesos ( P500. 000. 00 ) but non more than Three million pesos ( P3. 000. 000. 00 } per twenty-four hours for each twenty-four hours of misdemeanor or imprisonment of non less than six { 6 ) old ages but non more than ten { 10 ) old ages. or both. at the discretion of the tribunal. For misdemeanors falling under Section 4 of Presidential Decree No. 979 – a mulct of non less than Fifty thousand pesos { P50. 000. 00 ) nor more than One million pesos ( P1. 000. 000. 00 ) or by imprisonment of non les s than one { 1 ) twelvemonth nor more than six ( 6 ) old ages or both. for each discourtesy. without bias to the civil liability of the wrongdoer in conformity with bing Torahs. Water pollution instances affecting Acts of the Apostless or skips — committed within the Laguna Lake Region shall be dealt with in conformity with the process under R. A. No. 4850 as amended. Repealed and amended Torahs The CWA repealed Presidential Decree No. 984 Supplying for the Revision of Republic Act No. 3931. Normally Known as the Pollution Control Law. and for Other Purposes. signed on August 18. 1976. On the other manus. the undermentioned Torahs are amended and modified consequently: Republic Act No. 6969 – An Act to Control Toxic Substances and Hazardous and Nuclear Wastes. Supplying Punishments for Violations Thereof. and for Other Purposes. signed on October 26. 1990 Republic Act No. 4850. as amended – An Act Making the Laguna Lake Development Authority. Ordering its Powers. Functions and Duties. Supplying Fundss Thereof. and for Other Purposes† signed on 18 July 1966. Presidential Decree No. 1586 – Establishing an Environmental Impact Statement System. Including Other Environmental Management Related Measures and for Other Purposes signed on June 11. 1978. Presidential Decree No. 1152 – Philippine Environmental Code signed on June 6. 1977 Presidential Decree No. 979 – Supplying for the Revision of Presidential Decree No. 600 Regulating Marine Pollution signed on August 18. 1976 Presidential Decree No. 856 – Code On Sanitation signed on December 23. 1975 Decision The Philippines is blessed with H2O resources. which have played a important function in its development. The CWA is one manner to safeguard these H2O resources. It provides countenances for those who will foul the H2O. The success of the CWA depends on its execution and on each individual’s attempt to protect these H2O resources.

Medicare Eligibility Essay Example

Medicare Eligibility Essay Example Medicare Eligibility Paper Medicare Eligibility Paper The process of finding out if one is eligible for Medicare is to visit the website of Medicare at â€Å" medicare. gov† (US Department of Health and Human Services/Centers for Medicare Medicaid Services, 2007). Immediately after that, one ought to look for the label which states, â€Å"Search Tools† on the left side of the main page (US Department of Health and Human Services/Centers for Medicare Medicaid Services, 2007). Pointing the cursor to the â€Å"Search Tools† will provide a selection consisting of thirteen choices, from which, one ought to pick and click â€Å"Find Out Your Medicare Eligibility† (US Department of Health and Human Services/Centers for Medicare Medicaid Services, 2007). Required questions will then appear next and these are: 1) â€Å"Please enter your date of birth:†, wherein I answered â€Å"June 17, 1940† (US Department of Health and Human Services/Centers for Medicare Medicaid Services, 2007). 2) â€Å"Marital Status:†, wherein I answered â€Å"Married† (US Department of Health and Human Services/Centers for Medicare Medicaid Services, 2007). 3) â€Å"Tax Filing Status:† wherein I answered â€Å"Joint† (US Department of Health and Human Services/Centers for Medicare Medicaid Services, 2007). 4) â€Å"Type of Medicare Coverage:† wherein I answered â€Å"Part A B† (US Department of Health and Human Services/Centers for Medicare Medicaid Services, 2007). 5) â€Å"Do you have Medicaid? † wherein I answered â€Å"No† (US Department of Health and Human Services/Centers for Medicare Medicaid Services, 2007). 6) â€Å"Are you living outside the U. S.? † wherein I answered â€Å"No† (US Department of Health and Human Services/Centers for Medicare Medicaid Services, 2007). 7) â€Å"Household Income Range:† wherein I answered â€Å"$160,001 $200,000† (US Department of Health and Human Services/Centers for Medicare Medicaid Services, 2007). 8) â€Å"Are you receiving health benefits through your current employer (or through your spouses current employer)? † wherein I answered â€Å"Yes† (US Department of Health and Human Services/Centers for Medicare Medicaid Services, 2007). After answering all the question with such details, one will be able to confirm if he or she is eligible for Medicare especially if a statement like this will be issued in the end: â€Å"Based on your answers, the amount you will pay each month for your Medicare Part B premium is $105. 80 in 2007. This amount is based on your income† (US Department of Health and Human Services/Centers for Medicare Medicaid Services, 2007). References US Department of Health and Human Services/Centers for Medicare Medicaid Services. (2007). Medicare. Retrieved November 19, 2007 from medicare. gov. /MedicareEligibility/home. asp? Q%7C10022%7Chsincome%5Fmarried=%24160%2C001+%2D+%24200%2C000Q%7C5%7Crcvg%5Fbnfts=Yesversion=defaultQ%7C3%7Cmdcd=Nobrowser=Firefox%7C2%7CWinXPQ%7C4%7Clvg%5Fotsd=NoQ%7C10020%7Cmrtl%5Fstus=Marriedlanguage=EnglishQ%7C1002%7Ccvrg%5Ftype=ABQ%7C10030%7Ctaxfiling%5Fstatus=JointQ%7C1%7Cbirth%5Fmonth=06Q%7C1%7Cbirth%5Fday=17Q%7C1%7Cbirth%5Fyear=1940qid_path=1%281%7E10020%29%7C3000%2810030%29%7C3%281002%7E3%7E4%7E10022%29%7C4%285%29%7C999%28999%29dest=NAV|Home|MyEnrollment|Results|EligibilityQuestions

Disaster Recovery Plan Term Paper Example | Topics and Well Written Essays - 1500 words

Disaster Recovery Plan - Term Paper Example This paper discusses disaster recovery plan in respect of Share Broking House. Disaster recovery plan in Share Broking House The disaster causing damages in an environment may be either temporary as in the case of Sandy storm or permanent as in the case of attack on World Trade Center. The planning for the latter one involves substantial capital investment for establishing the required facilities for continuity of the business in an alternative site. The geographical locations should be dispersed with sufficient distance between the head office and the alternate site proposed for disaster recovery plan. Disasters may be categorized into two types at company level based on the nature of damages: disaster causing damages to the system and disaster causing damages to the entire facilities and properties. Establishing disaster recovery system at a different site will take care of both the types of disasters. Since the business of share broking house under study is spread all over the cou ntry, the disaster recovery site should be away by more than 300 kilo meters from the head office, in another city which is not prone to earth quakes. Goals The important goals in installing the disaster recovery plan are given below: 1. Training the employees in the recovery activities anticipated. 2. Testing the system for compatibility in real-life situations. 3. Establishing the necessary back-up facilities to provide the best services at all times. 4. Putting alternate communication system in place in the event of disaster. 5. Mitigating the effects of the impacts in the event of disaster. Objectives 1. Ensuring normalcy in clearing and settlement operations in the business without loss of time. 2. Ensuring accessibility to staff for disaster recovery process. 3. Assessment of the financial and operational support needed for reporting to the banks and financial institutions. 4. Making arrangements for survey by insurance companies. 5. Coordination with the service providers and vendors in recovery process. 6. Early resumption of the disrupted business operations. 7. Keeping the customers informed of the situation. 8. Keeping the regulatory and local authorities informed of the extent of disaster and the progress of recovery process. Overview of the organization The organization needs to be studied and analyzed with particular reference to disaster management. The structure has been designed to meet the needs of the industry where the business is carried out online. There are more than 100 branches which are connected to the head office. There are more than 1000 terminals in head office and branch offices. The company appointed dealers place orders into the system as per the instructions received over phone or internet from the customers. Also, some of these terminals are allocated to the day traders for day-trading. The important tasks involved in the day-to-day operations can be classified into: 1) Buying and selling of shares and Securities including Fu tures and Options, 2) Transfer of Securities to the depositories, depository participants and customers, 3) Settlement of payments arising out of transactions

A reflective piece on change initiative and applied work based change Essay

A reflective piece on change initiative and applied work based change in which you will apply the theoretical perspectives. iden - Essay Example However change management to be successful requires effective percolation and transmission of vision and mission objectives amongst the people at different levels. Involvement of human resources is considered as a prime concern for implementation of changes adapted. The people pertaining to different levels are required to be trained and communicated accordingly to make them understand the benefits and advantages related to the change process. Similarly the people must also be encouraged to render effective feedbacks relating to their problems and grievances owing to the requirement to perform in a changed environmental setting. This process put in place helps in the designing of adequate teams in the organisation that would contribute in the accomplishment of the new organisational objectives (Cameron and Green, 2004, p.79-80). Organisational Change in Retail The demand for fashion merchandises is countering dynamic changes owing to changing tastes and desires of the people around t he world for which fashion retail companies are required to bring about changes in the operational processes and accordingly adapt new vision and mission objectives. Retail concerns thus needs to incorporate processes that would help in effectively tracking changes in the demand scenario and thereby help in effective ordering for the right stocks. Working as a store manager in a fashion retail concern rendered a clear understanding about the factors for which the sales figures were countering a fall each month thereby leading to loss of revenues and goodwill. Fall in demand for the garments led to undue stock piling both in the store and warehouse thereby also creating a financial impact on the organisation in terms of locking of working capital. Thus it was strongly felt that the retail organisation needed adequate changes both in the vision and mission guidelines and also needed the incorporation of effective technology and process to help serve the organisational objectives. The main problem identified here related to the failure of the right merchandise to reach the stores from the warehouse at the right time. This fact thus led to the consumers perceives the unavailability of the required merchandise at the store leading to loss of potential demand and business for the retail concern. Thus it was required for the retail organisation to take resort to the process and concept of ‘Fast Fashion Retailing’ and also to implement technological and process changes thereby. ‘Fast Fashion’ is held to be a retail business strategy that aims in helping the retail concerns in effective reduction of lead times thereby contributing in the right merchandising of the stocks required to be sold (Barnes and Lea-Greenwood, 2006, p.259). Henceforth incorporation of technological changes relating to use of RFID (Radio Frequency Identification) Technology enabled scanners was also strongly felt that would help in rightly tracking inventory movement and thereby inform about the ‘hot sellers’ and the ‘unsold stocks’ (Thomas, 2008, p.98). Along with the above stated process and technological cha

Case Study summary Term Paper Example | Topics and Well Written Essays - 500 words

Case Study summary - Term Paper Example The company had staff performance appraisal program and believed in giving satisfaction to both staff and customers. Company provided many benefits to its workers which ensured a smooth running of the organization. However, problems aroused among employees with an issue of diwali gift and also gradually other problems started appearing slowly. The issues were relating to break, granting of leave, hostile attitude of workers etc. Eventually, company offered a raise in salary which was denied by the workers. Also some indiscipline behavior from the workers made the situation worse. The workers formed a union in due course and there was an attempt of conciliation between the company and workers which resulted in failure. With the onset of disruptive conduct from workers, the company banned the entry of workers to the company premises. A clash between police and employees occurred and all this led to a decrease in the productivity of the company .Ultimately, with the involvement of minis ter of haryana the situation in company got back to normal .The unrest among workers brought about a big damage to the productivity and goodwill of the company. The company had a big shock due to its damaged goodwill and declined productivity and this left the CEO of the company skeptical about his future growth. The key factors that led to the breakdown of industrial relations at HMSI.

Factors Which Lead to Stress in the Workplace

Factors Which Lead to Stress in the Workplace Phones 4 you Case Study Chapter One: Introduction Phones 4u is a large independent mobile phone retailer in the UK. Since opening in 1996, it expanded to 400 stores throughout the United Kingdom. Head office is based in Newcastle-under-Lyme, Staffordshire and was until recently part of the The Caudwell Group formed by John Caudwell. In September 2006 the group was sold and Phones 4u is now owned by Providence Equity Partners (Minter, 2003, 18) Stress is the condition that results when person-environment transactions lead the individual to perceive a discrepancy, whether real or not, between the demands of a situation and the resources of the persons biological, psychological or social systems. In medical terms, stress is the disruption of homeostasis through physical or psychological stimuli. Stressful stimuli can be mental, physiological, anatomical or physical reactions. Lost car keys, tardiness, family death, and loss of job, pressure, frustration, and social changes-these are different types of stress, the process by which one appraises and copes with environmental threats and challenges. The events of daily life flow through a psychological filter that helps a person the react in certain ways. Some stress early in life is conducive to later emotional and physical growth. But stresses, or conflicts, can also threaten a persons life as well and health (Amatea, 1991, 48). Behavioral psychologists have determined there is a correlation between stress and the declination on ones behavior. One may increase his usage of alcohol, tobacco, or other drugs to escape his stressful state. Other problems include arguing with friends, neglecting appearance, crying easily, difficulty concentrating, and withdrawing from family and friends. In extreme cases, stress can cause insanity. Emotional changes are also a common effect of stress. Symptoms include anger, anxiety, depression, nervousness, loneliness, and rejection. Changes in emotional state may lead to psychological disorders or even death, if not treated. Suicide is among the leading outcomes of stress-related depression (aspinwall, 1992, 48). Not only does stress effect ones emotional and behavioral states, buy it also plays a large role in ones physical state. Symptoms of stress include, but are not limited to, allergies, back pain, respiratory infections, fatigue, headaches, muscle tension, sleeping problems, and dizziness. British scientist Hans Selye made a basic point of stress. It states that although the human body comes designed to cope with temporary stress, prolonged stress can produce physical deterioration. MRI brain scans of people who have experienced a prolonged amount of stress often show the results of a shrunken hippocampus, the inner brain structure vital to laying down explicit memories. Stress can put people at risk for one of todays four leading causes of serious illness and death: heart disease, cancer, stroke, and chronic lung disease. Such findings were proven true by studies done by cardiologists Meyer Friedman and Ray Rosenman in 1956. Psychophysiological illnesses are stress-related. They are i llnesses, such as high blood pressure, that are caused by high levels of stress. Immune responses may also be effected by stress. They can either speed up or slow down causing a variety of illnesses such as lupus or multiple sclerosis. Stress does not make one sick, but it does restrain ones immune functioning, making him more vulnerable to foreign invaders (Bandura, 1986, 58). Stress in unavoidable. If one can not eliminate stress by changing or ignoring a situation, one must learn to manage it by confronting or escaping the problem. Stress management may include aerobic exercise, relaxation, and social support. Without knowledge of stress and ways to manage it, people are more susceptible of disease and psychological disorders. There are various sources of stress. The very definition of stress is: A mentally or emotionally disruptive or upsetting condition occurring in response to adverse external influences and capable of affecting physical health, usually characterized by increased heart rate, a rise in blood pressure, muscular tension, irritability, and depression. A stimulus or circumstance causing such a condition. In todays world of competition and success, the limits of our threshold are being pushed to succeed. Success is the driving force behind many people pushing their bodies to the limits. A human body needs a delicate balance between work, and relaxation. When this equilibrium is not maintained, problems occur, which might have repercussions later. These repercussions take the forms of Burnouts, break-downs, and sometimes extreme cases of heart attacks. In most cases of the systems breaking down, there are methods of control and mechanisms of improvement of the situation. Stress can be handled very effectively in todays world. Healthy and wholesome living is the new day mantra for better work efficiencies. What causes stress? There are various triggers to stress. Work, personal life and external factors (Banyard, 1993, 45). Work: the pressures of work are one of the greatest factors contributing to the high stress levels today. Long working hours, constant pressures of deadlines, and the inevitable fear of job security pushes people to work very hard. Personal Life: outside the work place, people are always subject to constant pressures from family, friends, and well wishers. Handling these pressures in the most effective way is the tact of the new manager. Family life can cause stress, especially if there is some friction between partners, the ill heath or sudden death of a partner can cause great levels of stress. External factors: personal finances, world events and other non classifiable events also add to stress. Time management or lack of thereof is another cause of external factors of stress. How does one handle stress? There are several ways of fighting stress in ones life. This essay will briefly attempt to touch base with some important methods which can be imbibed in handling stress. 1)   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Time Management: Time management is one of the greatest methods of combating stress especially in the workplace. Effective time management helps us prioritizing, planning, allocating and executing effective schedules in order to maximize our most valuable resource, time. Once a person has been able to handle time effectively, he or she would be able to handle many tasks which have been allocated (Baruch, 1987, 59). 2)   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Health: stress has a great impact on the personal health of the individual. Ageing is speeded up and white hair apparently comes aplenty. Living a healthy life helps in handling stress better. A regular routine, the offshoot of effective time management, allows us time to regularly exercise. Exercise, as many say release endorphins, these help combat stress and depression, a stress induced side effect. Healthy foods, such as greens, and maintaining a balanced diet are some other ways, which when coupled with exercise help us maintain a healthy body. 3)   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Non Conventional Methods: going back to the basics is a term that is used very regularly today. When one says going back to the basics, it includes going back to the past. Yoga, pranayama and other methods of controlling the mind, body and soul, have existed in our country for a very long time. This is fast gaining popularity as methods of combating stress. Yoga has immense powers to help us maintain our minds and body in shape. From the above, we can see one of the greatest factors of handling stress is to maintain a healthy mind, body and soul. Prevention is better than cure, preventing stress by having a healthy life style and a healthy mind, is a plus point which has no substitute in todays world. However there is no effective way of handling self induced stress. Calming the mind and regulated breathing can ease the stress, but it will be rendered ineffective if the person is not willing to practice it in the positive way (Bem, 1981, 49). Stress is one of the greatest hindrances to efficient productivity in todays workplace. Production efficiency is the key word today and this does face a serious threat with stress. Combating stress on a war footing is the need of the hour, and some of the above points will assist in effective stress management through a healthy mind , body and soul. Stress is a combination of responses in the body. Stress can be short-term (acute) or chronic. Acute stress is the fight or flight response. If a car is careening toward you at a high rate of speed, you will (or should!) experience acute stress. It is when you experience so many common stressors, such as heavy traffic, noise, money worries, illnesses, relationship problems, rising crime rates, or work frustrations, that stress takes a chronic form. In the short term, stress can be vital. Over time, it turns destructive . How destructive can stress be on your body? Research has shown that prolonged stress can produce actual tissue changes and organ dysfunction. With the new MRI (magnetic resonance imaging) techniques, scientists are able to prove visibly that chronic stress can shrink an area in the brain called the hypothalamus. Read More On This They have found that the brains of war veterans, as well as women who have been victims of childhood sexual abuse, have a marked reduction in the size of their hypothalamus (Betz, 1987, 29). Stress also affects your brain by releasing powerful chemical messengers called neurotransmitters, such as dopamine, norepinephrine, and epinephrine (also called adrenaline). The hypothalamic/pituitary-adrenal portion of your brain releases steroid hormones, including the primary stress hormone, cortisol. Cortisol affects systems throughout your body, including an increased heart rate. Your heart, lungs, and circulatory system are influenced by the increased heart rate. Blood flow may increase 300 to 400 percent. Blood pressure increases and breathing becomes rapid. Your mouth and throat may become dry. Skin may become cool and clammy because blood flow is diverted away so it can support the heart and muscle tissues. Even digestive activity shuts down. Once again, occasional stress is normal. Once youve handled the situation, the stress goes away and you heal from the episode. But, if stressors accumulate over time, eventually the body becomes inefficient at handling even the least amount of stress. The brain, heart, lungs, vessels, and muscles become so chronically over or under activated that they become damaged. It is this sort of stress which may trigger or worsen heart disease, strokes, susceptibility to infection, sleep disturbances, sexual and reproductive dysfunction, memory and learning dysfunction, digestive problems, weight problems, diabetes, pain, and skin disorders. Extensive multidisciplinary studies have presented unequivocal evidence that our psychological responses to stress and our perceptions of stress to a considerable extent affect our susceptibility to disease. In active relationship, the immune, neuroendocrine, and nervous systems respond to the brain and psyche. Virtually all illnesses, from the flu to cancer, are influenced for good or bad by our thoughts and feelings. R. Lloyd, 1990 Healing Brain: A Scientific Reader (Betz, 1987, 48) Statement of the Research Problem How do the employees cope with stress in the workplace to achieve a more balanced lifestyle at Phones 4 you ? Stress is a part of everybodys life. Depending on the level of stress, it can control our lives, especially in the workplace. We begin to spend several long hours at work, and thus have less time for other things. Stressed employees may be unhappy and thus produce nominally. Stress can deteriorate social and family relationships and eventually burn you out; ultimately it can take toll on your health. Organizations need to recognize stress as a problem and decide whether or not to act upon it. Background Information This question needs to be answered because stress is a problem that Phones 4 you must deal with; stress can cause poor work performance and lower employee morale. These factors can increase employee turnover rate and lessen quality of life. We all must deal with stress; question is how we handle and control it. With downsizing the buzz word in the modern corporate world, companies have become mean and lean. Employees are compelled to be more efficient Phones 4 you; they find themselves taking on the work of what used to be two. The result is longer hours, less time for outside activities, and consequently increased stress. According to Business Week, the typical British works 47 hours a week, and if current trends continue, in 20 years the average person would be on the job 60 hours a week. Another factor that increases stress is technological advancements. With all the new technology one is always connected to work and accessible 24 hours a day 7 days a week. According to Business Week, it is now possible, and thus increasingly expected, for employees to be accessible and productive any hour, any day (Bollen, 1993, 18). At a workplace, one observes several sales people working long hours, claiming it is due to under staffing. Employees reach a point of diminishing returns. The more hours they work, the less productive they are. This stressful condition causes the quality of work to dwindle. Consequently, clients recognize this, and eventually they terminate the business relationship. Soon the company loses, as it is built on these clients (Moos, 1989, 58). Statement of the Objectives This research expects to discuss factors which lead to stress in the workplace at Phones 4 you. Are individuals stressed in the workplace at Phones 4 you? What causes stress in the workplace Phones 4 you? Who is mostly stressed: men or women? Are individuals being exposed to stress management techniques? Should employers implement stress management techniques? as a future manager, I would like to be able to determine if stress is a problem for employees; if so, implement a strategy to curtail stress in the workplace. By recognizing stress in the workplace, employers can act appropriately to reduce stress. The outcome can benefit social and family relationships, as well as preserve ones health and make us more productive in our organizations (Moos, 1982, 25). Scope The research project will comprise of a sample size of 30 individuals, randomly selected from general business areas. The study will analyze stress factors in the U.K workforce and its impact on the British organization. Effective stress management techniques will then be presented, which will allow individuals or organizations to implement. Secondary information from various sources will be utilized to explore effective methods of coping with stress. The conclusions and recommendations I will draw will be applicable to any British organization with stress as a problem. Although this study will generalize from the small population, it can be used as a starting point to recognizing the problem, as each organization can require a different approach (Parkes, 1986, 36). Limitations The sources utilized in the research will be extracted from current articles (2006-present) from online services, the Internet, and public libraries. A survey will be given to individuals of randomly chosen organizations and will not target any specific company or industry. Due to time constraints, the population will be limited to 30 individuals. The research will explore factors causing stress in the workplace and its impact on organizations. Effective methods of coping with stress will be given, but limited to ones examined in the secondary resources (Portello, 1996, 548). Research Procedures The project will focus on stress factors in the workplace and effective methods to balance a healthy lifestyle. The sample group will consist of 30 individuals randomly selected from general business areas. The survey will be conducted during lunch periods when several employees leave and return to the workplace. The questionnaire will attempt to see if the sample individuals believe stress is a problem and what can be done to resolve it. The questionnaire will be delivered in person and each individual will fill out the survey at that point. Since the survey will be conducted in a general public area, no authorization is needed to administer. Once I receive all the surveys, I will quantify the data into an Excel spreadsheet. I will report the data mostly in percentages (e.g. 70percent of the individuals acknowledge that stress is a problem in the workplace). The data will be utilized to see if stress is a factor impacting the British workforce. Stress management techniques will be presented where appropriate (Browne, 1993, 578). Chapter Two: Literature Review Stress is an adaptive response. It is the bodys reaction to an event that is seen as emotionally disturbing, disquieting, or threatening. When we perceive such an event, we experience what stress researchers call the fight or flight response. To prepare for fighting or fleeing, the body increases its heart rate and blood pressure; more blood is then sent to your heart and muscles, and your respiration rate increases (Carmines, 1981, 48). Stress is both positive and negative. Good stress is a balance of arousal and relaxation that helps you concentrate, focus, and achieve what you want. Bad stress is constant stress and constant arousal that may lead to high blood pressure, cardiovascular disease, and worse. The body does not distinguish between negative and positive stress. The same physiological responses can take place whether you are happy or sad about a given situation. When extending to the workplace, stress may lead to poor work performance and end up costing an organizations several thousands of dollars. The organization loses on salary because they are not receiving satisfactory production and if the employee becomes ill, health and workers compensation rates can soar . The organization must decide whether or no to implement a stress management program, since there are several external stressors that can overtake an individual. Internal stressors, within organizations include technology and corporate downsizing which leads to longer hours and job uncertainty. If one does not know how to manage stress, it can get out of control ) (Rock, 1997, 4). Analyzing Stress on Individuals In a 1995 survey of 1,705 respondents it is analyzed that stress rises with level of education and job level and is higher than average for women (Robinson, 1996, 88). Fifty-eight percent of the women respondents possess moderate to a lot of stress in the workplace compared to 53 percent of men. From the divorced individuals, 62 percent are stressed in the workplace compared to married and never married at 57 percent, and 58 percent respectively. The widowed respondents maintain the least stress at 38 percent (Robinson, 1996, 48). College graduate respondents possess more stress at 64 percent than high school graduates at 55 percent. Only 43 percent of the less than high school respondents felt stress in the workplace. Those with more education feel more stress, possibly because their jobs involve greater managerial and financial responsibility (Robinson, 1996, 87). Stress is an epidemic in British life. In nationwide polls, 89 percent of Britishers reported that they often experience high levels of stress, and 59 percent claimed that they feel great stress at least once a week (Hellmich, 1994, 57). A five year study of the British workforce conducted by the Families and Work Institute showed that 30 percent of employees often or very often feel burned out or stressed by their jobs, 27 percent feel emotionally drained from their work, and 42 percent feel used up at the end of the work day (Hellmich, 1994, 4). Balancing work pressures and family responsibilities leaves many workers feeling burned out. Examining the Effects of Downsizing on Stress The downsizing of organizations have caused a stressful environment. Downsizing has created concerns over job security, and has forced employees to take on a larger workload. According to a local union representing U.K. West stated that work still needs to be done, but with fewer people (Scott, 1996, 41). Downsizing creates quantitative and qualitative stress. Quantitative stress pertains to doing the same amount of work with fewer people. Reengineering the organization entails shaping the company to be more efficient with less individuals. These individuals are asked to do a wider variety of work functions they are not trained to do, causing qualitative overload (Scott, 1996, 35). Occupational Stress is the harmful physical and emotional response that occurs when there is a poor match between job demands and the capabilities, resources, or needs of the worker. Stress-related disorders encompass a broad array of conditions, including psychological disorders (e.g., depression, anxiety, post-traumatic stress disorder) and other types of emotional strain (e.g., dissatisfaction, fatigue, tension, etc.), maladaptive behaviours (e.g., aggression, substance abuse), and cognitive impairment (e.g., concentration and memory problems). In turn, these conditions may lead to poor work performance or even injury. Job stress is also associated with various biological reactions that may lead ultimately to compromised health, such as cardiovascular disease (Rosenfield, 1989, 5). Prevalence Stress is a prevalent and costly problem in todays workplace. About one-third of workers report high levels of stress. One-fourth of employees view their jobs as the number one stressor in their lives. Three-fourths of employees believe the worker has more on-the-job stress than a generation ago. Evidence also suggests that stress is the major cause of turnover in organizations (Scheier, 1985, 65). Health and Healthcare Utilization Problems at work are more strongly associated with health complaints than are any other life stressor-more so than even financial problems or family problems. Many studies suggest that psychologically demanding jobs that allow employees little control over the work process increase the risk of cardiovascular disease. On the basis of research by the National Institute for Occupational Safety and Health and many other organizations, it is widely believed that job stress increases the risk for development of back and upper-extremity musculoskeletal disorders. High levels of stress are associated with substantial increases in health service utilization. Workers who report experiencing stress at work also show excessive health care utilization. In a 1998 study of 46,000 workers, health care costs were nearly 50% greater for workers reporting high levels of stress in comparison to low risk workers. The increment rose to nearly 150%, an increase of more than $1,700 per person annually, for workers reporting high levels of both stress and depression. Additionally, periods of disability due to job stress tend to be much longer than disability periods for other occupational injuries and illnesses (Schwartz, 1993, 58). Causes of Occupational Stress Job stress results from the interaction of the worker and the conditions of work. Views differ on the importance of worker characteristics versus working conditions as the primary cause of job stress. The differing viewpoints suggest different ways to prevent stress at work. According to one school of thought, differences in individual characteristics such as personality and coping style are most important in predicting whether certain job conditions will result in stress-in other words, what is stressful for one person may not be a problem for someone else. This viewpoint leads to prevention strategies that focus on workers and ways to help them cope with demanding job conditions. Although the importance of individual differences cannot be ignored, scientific evidence suggests that certain working conditions are stressful to most people. Such evidence argues for a greater emphasis on working conditions as the key source of job stress, and for job redesign as a primary prevention str ategy. Personal interview surveys of working conditions, including conditions recognized as risk factors for job stress, were conducted in Member States of the European Union in 1990, 1995, and 2000. Results showed a trend across these periods suggestive of increasing work intensity. In 1990, the percentage of workers reporting that they worked at high speeds at least one-fourth of their working time was 48%, increasing to 54% in 1995 and to 56% in 2000. Similarly, 50% of workers reported they work against tight deadlines at least one-fourth of their working time in 1990, increasing to 56% in 1995 and 60 % in 2000. However, no change was noted in the period 1995–2000 (data not collected in 1990) in the percentage of workers reporting sufficient time to complete tasks. A substantial percentage of Britishers work very long hours. By one estimate, more than 26% of men and more than 11% of women worked 50 hours per week or more in 2000. These figures represent a considerable incr ease over the previous three decades, especially for women. According to the Department of Labour, there has been an upward trend in hours worked among employed women, an increase in extended work weeks (>40 hours) by men, and a considerable increase in combined working hours among working couples, particularly couples with young children (Shaw, 1993, 4). Signs of Occupational Stress Mood and sleep disturbances, upset stomach and headache, and disturbed relationships with family, friend and girl/boy friends are examples of stress-related problems. The effects of job stress on chronic diseases are more difficult to see because chronic diseases take a long time to develop and can be influenced by many factors other than stress. Nonetheless, evidence is rapidly accumulating to suggest that stress plays an important role in several types of chronic health problems-especially cardiovascular disease, musculoskeletal disorders, and psychological disorders (Sherer, 1982, 36). Prevention A combination of organizational change and stress management is often the most useful approach for preventing stress at work. How to Change the Organization to Prevent Job Stress Ensure that the workload is in line with workers capabilities and resources. Design jobs to provide meaning, stimulation, and opportunities for workers to use their skills. Clearly define workers roles and responsibilities. Give workers opportunities to participate in decisions and actions affecting their jobs. Improve communications-reduce uncertainty about career development and future employment prospects. Provide opportunities for social interaction among workers. Establish work schedules that are compatible with demands and responsibilities outside the job. St. Paul Fire and Marine Insurance Company conducted several studies on the effects of stress prevention programs in hospital settings. Program activities included (1) employee and management education on job stress, (2) changes in hospital policies and procedures to reduce organizational sources of stress, and (3) establishment of employee assistance programs. In one study, the frequency of medication errors declined by 50% after prevention activities were implemented in a 700-bed hospital. In a second study, there was a 70% reduction in malpractice claims in 22 hospitals that implemented stress prevention activities. In contrast, there was no reduction in claims in a matched group of 22 hospitals that did not implement stress prevention activities (Smith, 1981, 24). Chapter Three: Research Methodology Design The data reported here are from two separate data sets. In order to cross-validate the model, data from the original study of managerial women were used, and these included data from the first three assessments of a 2-year longitudinal study. In the original article (B. C. Long et al., 1992, 165), a conceptual model of stress and coping was tested and developed that was based on data from the first three assessments (Time 1 to Time 3) of 11 assessments completed over 2 years. Status, Sex Role Attitudes, and Agentic Traits were assessed at Time 1; Appraisals, Disengagement and Engagement Coping, Work Environment, and Daily Hassles were assessed at Time 2; and Distress and Satisfaction were assessed at Time 3. These data were used as a base to test the validity of the model on a new set of data obtained from clerical workers, data that have not been reported elsewhere (Snapp, 1992, 32). Sampling The managerial women (n = 249) were employed in nontraditional occupations (i.e., fewer than 35% of British employees are women). Their mean age was 38.84 years (SD = 7.68, range = 22–66). More detailed descriptions of the managers characteristics can be found in B. C. Long et al. (1992). The clerical workers who participated were employed in both large and small organizations in the same large western British city in which the managers were employed. The clerical workers volunteered in response to written requests for participants that I circulated in the media and by networking. The notices were directed to full-time female clerical workers and indicated that the purpose of the study was to investigate how clerical workers experienced Occupational Stress. No incentives were offered other than a final summary report. à Ã… ¾f the 284 respondents who made contact by telephone, 273 met the criteria for inclusion (i.e., they were employed in a clerical position, worked more than 20 hours per week, and did not supervise others). à Ã… ¾f the 273 clerical workers who met the criteria and were distributed questionnaires at Time 1, 39 withdrew from the study because of lack of time to participate, 7 no longer met our criteria because of promotion, unemployment, or leave o f absence from work (e.g., due to accident or illness), and 4 moved. The overall dropout rate was 18%. Dropout analyses were conducted on the demographic variables measured at Time 1. No differences were found between the retained (n = 223) and dropout (n = 50) respondents. Chi-square analyses of the demographic variables (marital status, education, number of children, job level, and size of the company) were not significant. Because 9 participants identified a personal rather than a work stressor, their data were omitted from the model testing. All respondents were self-identified clerical workers. Job classifications included clerks (25%), secretaries–stenographers (23%), administrative assistants (34%), and others (18%). The mean age was 39.77 years (SD = 9.46, range = 22–63 years). Fifty-three percent of the clerical workers were married, 22% were single, and 25% were divorced, separated, or widowed. Fifty-three percent were parents. Twenty-four percent had a high school education or less, 42% had special training (e.g., secretarial, clerical), 17% had a college education (2 years postsecondary), and 13% had a university degree. Household incomes ranged from less than $25,000 (British) per year (23.4%) to over $61,000 (British) per year (27.5%). The major industries represented were education (31%), service (35%), utilities and public administration (12%), manufacturing and transportation (10%), and other (8%). On average the women had been in the workforce for 17.02 years (SD = 8.74, Factors Which Lead to Stress in the Workplace Factors Which Lead to Stress in the Workplace Phones 4 you Case Study Chapter One: Introduction Phones 4u is a large independent mobile phone retailer in the UK. Since opening in 1996, it expanded to 400 stores throughout the United Kingdom. Head office is based in Newcastle-under-Lyme, Staffordshire and was until recently part of the The Caudwell Group formed by John Caudwell. In September 2006 the group was sold and Phones 4u is now owned by Providence Equity Partners (Minter, 2003, 18) Stress is the condition that results when person-environment transactions lead the individual to perceive a discrepancy, whether real or not, between the demands of a situation and the resources of the persons biological, psychological or social systems. In medical terms, stress is the disruption of homeostasis through physical or psychological stimuli. Stressful stimuli can be mental, physiological, anatomical or physical reactions. Lost car keys, tardiness, family death, and loss of job, pressure, frustration, and social changes-these are different types of stress, the process by which one appraises and copes with environmental threats and challenges. The events of daily life flow through a psychological filter that helps a person the react in certain ways. Some stress early in life is conducive to later emotional and physical growth. But stresses, or conflicts, can also threaten a persons life as well and health (Amatea, 1991, 48). Behavioral psychologists have determined there is a correlation between stress and the declination on ones behavior. One may increase his usage of alcohol, tobacco, or other drugs to escape his stressful state. Other problems include arguing with friends, neglecting appearance, crying easily, difficulty concentrating, and withdrawing from family and friends. In extreme cases, stress can cause insanity. Emotional changes are also a common effect of stress. Symptoms include anger, anxiety, depression, nervousness, loneliness, and rejection. Changes in emotional state may lead to psychological disorders or even death, if not treated. Suicide is among the leading outcomes of stress-related depression (aspinwall, 1992, 48). Not only does stress effect ones emotional and behavioral states, buy it also plays a large role in ones physical state. Symptoms of stress include, but are not limited to, allergies, back pain, respiratory infections, fatigue, headaches, muscle tension, sleeping problems, and dizziness. British scientist Hans Selye made a basic point of stress. It states that although the human body comes designed to cope with temporary stress, prolonged stress can produce physical deterioration. MRI brain scans of people who have experienced a prolonged amount of stress often show the results of a shrunken hippocampus, the inner brain structure vital to laying down explicit memories. Stress can put people at risk for one of todays four leading causes of serious illness and death: heart disease, cancer, stroke, and chronic lung disease. Such findings were proven true by studies done by cardiologists Meyer Friedman and Ray Rosenman in 1956. Psychophysiological illnesses are stress-related. They are i llnesses, such as high blood pressure, that are caused by high levels of stress. Immune responses may also be effected by stress. They can either speed up or slow down causing a variety of illnesses such as lupus or multiple sclerosis. Stress does not make one sick, but it does restrain ones immune functioning, making him more vulnerable to foreign invaders (Bandura, 1986, 58). Stress in unavoidable. If one can not eliminate stress by changing or ignoring a situation, one must learn to manage it by confronting or escaping the problem. Stress management may include aerobic exercise, relaxation, and social support. Without knowledge of stress and ways to manage it, people are more susceptible of disease and psychological disorders. There are various sources of stress. The very definition of stress is: A mentally or emotionally disruptive or upsetting condition occurring in response to adverse external influences and capable of affecting physical health, usually characterized by increased heart rate, a rise in blood pressure, muscular tension, irritability, and depression. A stimulus or circumstance causing such a condition. In todays world of competition and success, the limits of our threshold are being pushed to succeed. Success is the driving force behind many people pushing their bodies to the limits. A human body needs a delicate balance between work, and relaxation. When this equilibrium is not maintained, problems occur, which might have repercussions later. These repercussions take the forms of Burnouts, break-downs, and sometimes extreme cases of heart attacks. In most cases of the systems breaking down, there are methods of control and mechanisms of improvement of the situation. Stress can be handled very effectively in todays world. Healthy and wholesome living is the new day mantra for better work efficiencies. What causes stress? There are various triggers to stress. Work, personal life and external factors (Banyard, 1993, 45). Work: the pressures of work are one of the greatest factors contributing to the high stress levels today. Long working hours, constant pressures of deadlines, and the inevitable fear of job security pushes people to work very hard. Personal Life: outside the work place, people are always subject to constant pressures from family, friends, and well wishers. Handling these pressures in the most effective way is the tact of the new manager. Family life can cause stress, especially if there is some friction between partners, the ill heath or sudden death of a partner can cause great levels of stress. External factors: personal finances, world events and other non classifiable events also add to stress. Time management or lack of thereof is another cause of external factors of stress. How does one handle stress? There are several ways of fighting stress in ones life. This essay will briefly attempt to touch base with some important methods which can be imbibed in handling stress. 1)   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Time Management: Time management is one of the greatest methods of combating stress especially in the workplace. Effective time management helps us prioritizing, planning, allocating and executing effective schedules in order to maximize our most valuable resource, time. Once a person has been able to handle time effectively, he or she would be able to handle many tasks which have been allocated (Baruch, 1987, 59). 2)   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Health: stress has a great impact on the personal health of the individual. Ageing is speeded up and white hair apparently comes aplenty. Living a healthy life helps in handling stress better. A regular routine, the offshoot of effective time management, allows us time to regularly exercise. Exercise, as many say release endorphins, these help combat stress and depression, a stress induced side effect. Healthy foods, such as greens, and maintaining a balanced diet are some other ways, which when coupled with exercise help us maintain a healthy body. 3)   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Non Conventional Methods: going back to the basics is a term that is used very regularly today. When one says going back to the basics, it includes going back to the past. Yoga, pranayama and other methods of controlling the mind, body and soul, have existed in our country for a very long time. This is fast gaining popularity as methods of combating stress. Yoga has immense powers to help us maintain our minds and body in shape. From the above, we can see one of the greatest factors of handling stress is to maintain a healthy mind, body and soul. Prevention is better than cure, preventing stress by having a healthy life style and a healthy mind, is a plus point which has no substitute in todays world. However there is no effective way of handling self induced stress. Calming the mind and regulated breathing can ease the stress, but it will be rendered ineffective if the person is not willing to practice it in the positive way (Bem, 1981, 49). Stress is one of the greatest hindrances to efficient productivity in todays workplace. Production efficiency is the key word today and this does face a serious threat with stress. Combating stress on a war footing is the need of the hour, and some of the above points will assist in effective stress management through a healthy mind , body and soul. Stress is a combination of responses in the body. Stress can be short-term (acute) or chronic. Acute stress is the fight or flight response. If a car is careening toward you at a high rate of speed, you will (or should!) experience acute stress. It is when you experience so many common stressors, such as heavy traffic, noise, money worries, illnesses, relationship problems, rising crime rates, or work frustrations, that stress takes a chronic form. In the short term, stress can be vital. Over time, it turns destructive . How destructive can stress be on your body? Research has shown that prolonged stress can produce actual tissue changes and organ dysfunction. With the new MRI (magnetic resonance imaging) techniques, scientists are able to prove visibly that chronic stress can shrink an area in the brain called the hypothalamus. Read More On This They have found that the brains of war veterans, as well as women who have been victims of childhood sexual abuse, have a marked reduction in the size of their hypothalamus (Betz, 1987, 29). Stress also affects your brain by releasing powerful chemical messengers called neurotransmitters, such as dopamine, norepinephrine, and epinephrine (also called adrenaline). The hypothalamic/pituitary-adrenal portion of your brain releases steroid hormones, including the primary stress hormone, cortisol. Cortisol affects systems throughout your body, including an increased heart rate. Your heart, lungs, and circulatory system are influenced by the increased heart rate. Blood flow may increase 300 to 400 percent. Blood pressure increases and breathing becomes rapid. Your mouth and throat may become dry. Skin may become cool and clammy because blood flow is diverted away so it can support the heart and muscle tissues. Even digestive activity shuts down. Once again, occasional stress is normal. Once youve handled the situation, the stress goes away and you heal from the episode. But, if stressors accumulate over time, eventually the body becomes inefficient at handling even the least amount of stress. The brain, heart, lungs, vessels, and muscles become so chronically over or under activated that they become damaged. It is this sort of stress which may trigger or worsen heart disease, strokes, susceptibility to infection, sleep disturbances, sexual and reproductive dysfunction, memory and learning dysfunction, digestive problems, weight problems, diabetes, pain, and skin disorders. Extensive multidisciplinary studies have presented unequivocal evidence that our psychological responses to stress and our perceptions of stress to a considerable extent affect our susceptibility to disease. In active relationship, the immune, neuroendocrine, and nervous systems respond to the brain and psyche. Virtually all illnesses, from the flu to cancer, are influenced for good or bad by our thoughts and feelings. R. Lloyd, 1990 Healing Brain: A Scientific Reader (Betz, 1987, 48) Statement of the Research Problem How do the employees cope with stress in the workplace to achieve a more balanced lifestyle at Phones 4 you ? Stress is a part of everybodys life. Depending on the level of stress, it can control our lives, especially in the workplace. We begin to spend several long hours at work, and thus have less time for other things. Stressed employees may be unhappy and thus produce nominally. Stress can deteriorate social and family relationships and eventually burn you out; ultimately it can take toll on your health. Organizations need to recognize stress as a problem and decide whether or not to act upon it. Background Information This question needs to be answered because stress is a problem that Phones 4 you must deal with; stress can cause poor work performance and lower employee morale. These factors can increase employee turnover rate and lessen quality of life. We all must deal with stress; question is how we handle and control it. With downsizing the buzz word in the modern corporate world, companies have become mean and lean. Employees are compelled to be more efficient Phones 4 you; they find themselves taking on the work of what used to be two. The result is longer hours, less time for outside activities, and consequently increased stress. According to Business Week, the typical British works 47 hours a week, and if current trends continue, in 20 years the average person would be on the job 60 hours a week. Another factor that increases stress is technological advancements. With all the new technology one is always connected to work and accessible 24 hours a day 7 days a week. According to Business Week, it is now possible, and thus increasingly expected, for employees to be accessible and productive any hour, any day (Bollen, 1993, 18). At a workplace, one observes several sales people working long hours, claiming it is due to under staffing. Employees reach a point of diminishing returns. The more hours they work, the less productive they are. This stressful condition causes the quality of work to dwindle. Consequently, clients recognize this, and eventually they terminate the business relationship. Soon the company loses, as it is built on these clients (Moos, 1989, 58). Statement of the Objectives This research expects to discuss factors which lead to stress in the workplace at Phones 4 you. Are individuals stressed in the workplace at Phones 4 you? What causes stress in the workplace Phones 4 you? Who is mostly stressed: men or women? Are individuals being exposed to stress management techniques? Should employers implement stress management techniques? as a future manager, I would like to be able to determine if stress is a problem for employees; if so, implement a strategy to curtail stress in the workplace. By recognizing stress in the workplace, employers can act appropriately to reduce stress. The outcome can benefit social and family relationships, as well as preserve ones health and make us more productive in our organizations (Moos, 1982, 25). Scope The research project will comprise of a sample size of 30 individuals, randomly selected from general business areas. The study will analyze stress factors in the U.K workforce and its impact on the British organization. Effective stress management techniques will then be presented, which will allow individuals or organizations to implement. Secondary information from various sources will be utilized to explore effective methods of coping with stress. The conclusions and recommendations I will draw will be applicable to any British organization with stress as a problem. Although this study will generalize from the small population, it can be used as a starting point to recognizing the problem, as each organization can require a different approach (Parkes, 1986, 36). Limitations The sources utilized in the research will be extracted from current articles (2006-present) from online services, the Internet, and public libraries. A survey will be given to individuals of randomly chosen organizations and will not target any specific company or industry. Due to time constraints, the population will be limited to 30 individuals. The research will explore factors causing stress in the workplace and its impact on organizations. Effective methods of coping with stress will be given, but limited to ones examined in the secondary resources (Portello, 1996, 548). Research Procedures The project will focus on stress factors in the workplace and effective methods to balance a healthy lifestyle. The sample group will consist of 30 individuals randomly selected from general business areas. The survey will be conducted during lunch periods when several employees leave and return to the workplace. The questionnaire will attempt to see if the sample individuals believe stress is a problem and what can be done to resolve it. The questionnaire will be delivered in person and each individual will fill out the survey at that point. Since the survey will be conducted in a general public area, no authorization is needed to administer. Once I receive all the surveys, I will quantify the data into an Excel spreadsheet. I will report the data mostly in percentages (e.g. 70percent of the individuals acknowledge that stress is a problem in the workplace). The data will be utilized to see if stress is a factor impacting the British workforce. Stress management techniques will be presented where appropriate (Browne, 1993, 578). Chapter Two: Literature Review Stress is an adaptive response. It is the bodys reaction to an event that is seen as emotionally disturbing, disquieting, or threatening. When we perceive such an event, we experience what stress researchers call the fight or flight response. To prepare for fighting or fleeing, the body increases its heart rate and blood pressure; more blood is then sent to your heart and muscles, and your respiration rate increases (Carmines, 1981, 48). Stress is both positive and negative. Good stress is a balance of arousal and relaxation that helps you concentrate, focus, and achieve what you want. Bad stress is constant stress and constant arousal that may lead to high blood pressure, cardiovascular disease, and worse. The body does not distinguish between negative and positive stress. The same physiological responses can take place whether you are happy or sad about a given situation. When extending to the workplace, stress may lead to poor work performance and end up costing an organizations several thousands of dollars. The organization loses on salary because they are not receiving satisfactory production and if the employee becomes ill, health and workers compensation rates can soar . The organization must decide whether or no to implement a stress management program, since there are several external stressors that can overtake an individual. Internal stressors, within organizations include technology and corporate downsizing which leads to longer hours and job uncertainty. If one does not know how to manage stress, it can get out of control ) (Rock, 1997, 4). Analyzing Stress on Individuals In a 1995 survey of 1,705 respondents it is analyzed that stress rises with level of education and job level and is higher than average for women (Robinson, 1996, 88). Fifty-eight percent of the women respondents possess moderate to a lot of stress in the workplace compared to 53 percent of men. From the divorced individuals, 62 percent are stressed in the workplace compared to married and never married at 57 percent, and 58 percent respectively. The widowed respondents maintain the least stress at 38 percent (Robinson, 1996, 48). College graduate respondents possess more stress at 64 percent than high school graduates at 55 percent. Only 43 percent of the less than high school respondents felt stress in the workplace. Those with more education feel more stress, possibly because their jobs involve greater managerial and financial responsibility (Robinson, 1996, 87). Stress is an epidemic in British life. In nationwide polls, 89 percent of Britishers reported that they often experience high levels of stress, and 59 percent claimed that they feel great stress at least once a week (Hellmich, 1994, 57). A five year study of the British workforce conducted by the Families and Work Institute showed that 30 percent of employees often or very often feel burned out or stressed by their jobs, 27 percent feel emotionally drained from their work, and 42 percent feel used up at the end of the work day (Hellmich, 1994, 4). Balancing work pressures and family responsibilities leaves many workers feeling burned out. Examining the Effects of Downsizing on Stress The downsizing of organizations have caused a stressful environment. Downsizing has created concerns over job security, and has forced employees to take on a larger workload. According to a local union representing U.K. West stated that work still needs to be done, but with fewer people (Scott, 1996, 41). Downsizing creates quantitative and qualitative stress. Quantitative stress pertains to doing the same amount of work with fewer people. Reengineering the organization entails shaping the company to be more efficient with less individuals. These individuals are asked to do a wider variety of work functions they are not trained to do, causing qualitative overload (Scott, 1996, 35). Occupational Stress is the harmful physical and emotional response that occurs when there is a poor match between job demands and the capabilities, resources, or needs of the worker. Stress-related disorders encompass a broad array of conditions, including psychological disorders (e.g., depression, anxiety, post-traumatic stress disorder) and other types of emotional strain (e.g., dissatisfaction, fatigue, tension, etc.), maladaptive behaviours (e.g., aggression, substance abuse), and cognitive impairment (e.g., concentration and memory problems). In turn, these conditions may lead to poor work performance or even injury. Job stress is also associated with various biological reactions that may lead ultimately to compromised health, such as cardiovascular disease (Rosenfield, 1989, 5). Prevalence Stress is a prevalent and costly problem in todays workplace. About one-third of workers report high levels of stress. One-fourth of employees view their jobs as the number one stressor in their lives. Three-fourths of employees believe the worker has more on-the-job stress than a generation ago. Evidence also suggests that stress is the major cause of turnover in organizations (Scheier, 1985, 65). Health and Healthcare Utilization Problems at work are more strongly associated with health complaints than are any other life stressor-more so than even financial problems or family problems. Many studies suggest that psychologically demanding jobs that allow employees little control over the work process increase the risk of cardiovascular disease. On the basis of research by the National Institute for Occupational Safety and Health and many other organizations, it is widely believed that job stress increases the risk for development of back and upper-extremity musculoskeletal disorders. High levels of stress are associated with substantial increases in health service utilization. Workers who report experiencing stress at work also show excessive health care utilization. In a 1998 study of 46,000 workers, health care costs were nearly 50% greater for workers reporting high levels of stress in comparison to low risk workers. The increment rose to nearly 150%, an increase of more than $1,700 per person annually, for workers reporting high levels of both stress and depression. Additionally, periods of disability due to job stress tend to be much longer than disability periods for other occupational injuries and illnesses (Schwartz, 1993, 58). Causes of Occupational Stress Job stress results from the interaction of the worker and the conditions of work. Views differ on the importance of worker characteristics versus working conditions as the primary cause of job stress. The differing viewpoints suggest different ways to prevent stress at work. According to one school of thought, differences in individual characteristics such as personality and coping style are most important in predicting whether certain job conditions will result in stress-in other words, what is stressful for one person may not be a problem for someone else. This viewpoint leads to prevention strategies that focus on workers and ways to help them cope with demanding job conditions. Although the importance of individual differences cannot be ignored, scientific evidence suggests that certain working conditions are stressful to most people. Such evidence argues for a greater emphasis on working conditions as the key source of job stress, and for job redesign as a primary prevention str ategy. Personal interview surveys of working conditions, including conditions recognized as risk factors for job stress, were conducted in Member States of the European Union in 1990, 1995, and 2000. Results showed a trend across these periods suggestive of increasing work intensity. In 1990, the percentage of workers reporting that they worked at high speeds at least one-fourth of their working time was 48%, increasing to 54% in 1995 and to 56% in 2000. Similarly, 50% of workers reported they work against tight deadlines at least one-fourth of their working time in 1990, increasing to 56% in 1995 and 60 % in 2000. However, no change was noted in the period 1995–2000 (data not collected in 1990) in the percentage of workers reporting sufficient time to complete tasks. A substantial percentage of Britishers work very long hours. By one estimate, more than 26% of men and more than 11% of women worked 50 hours per week or more in 2000. These figures represent a considerable incr ease over the previous three decades, especially for women. According to the Department of Labour, there has been an upward trend in hours worked among employed women, an increase in extended work weeks (>40 hours) by men, and a considerable increase in combined working hours among working couples, particularly couples with young children (Shaw, 1993, 4). Signs of Occupational Stress Mood and sleep disturbances, upset stomach and headache, and disturbed relationships with family, friend and girl/boy friends are examples of stress-related problems. The effects of job stress on chronic diseases are more difficult to see because chronic diseases take a long time to develop and can be influenced by many factors other than stress. Nonetheless, evidence is rapidly accumulating to suggest that stress plays an important role in several types of chronic health problems-especially cardiovascular disease, musculoskeletal disorders, and psychological disorders (Sherer, 1982, 36). Prevention A combination of organizational change and stress management is often the most useful approach for preventing stress at work. How to Change the Organization to Prevent Job Stress Ensure that the workload is in line with workers capabilities and resources. Design jobs to provide meaning, stimulation, and opportunities for workers to use their skills. Clearly define workers roles and responsibilities. Give workers opportunities to participate in decisions and actions affecting their jobs. Improve communications-reduce uncertainty about career development and future employment prospects. Provide opportunities for social interaction among workers. Establish work schedules that are compatible with demands and responsibilities outside the job. St. Paul Fire and Marine Insurance Company conducted several studies on the effects of stress prevention programs in hospital settings. Program activities included (1) employee and management education on job stress, (2) changes in hospital policies and procedures to reduce organizational sources of stress, and (3) establishment of employee assistance programs. In one study, the frequency of medication errors declined by 50% after prevention activities were implemented in a 700-bed hospital. In a second study, there was a 70% reduction in malpractice claims in 22 hospitals that implemented stress prevention activities. In contrast, there was no reduction in claims in a matched group of 22 hospitals that did not implement stress prevention activities (Smith, 1981, 24). Chapter Three: Research Methodology Design The data reported here are from two separate data sets. In order to cross-validate the model, data from the original study of managerial women were used, and these included data from the first three assessments of a 2-year longitudinal study. In the original article (B. C. Long et al., 1992, 165), a conceptual model of stress and coping was tested and developed that was based on data from the first three assessments (Time 1 to Time 3) of 11 assessments completed over 2 years. Status, Sex Role Attitudes, and Agentic Traits were assessed at Time 1; Appraisals, Disengagement and Engagement Coping, Work Environment, and Daily Hassles were assessed at Time 2; and Distress and Satisfaction were assessed at Time 3. These data were used as a base to test the validity of the model on a new set of data obtained from clerical workers, data that have not been reported elsewhere (Snapp, 1992, 32). Sampling The managerial women (n = 249) were employed in nontraditional occupations (i.e., fewer than 35% of British employees are women). Their mean age was 38.84 years (SD = 7.68, range = 22–66). More detailed descriptions of the managers characteristics can be found in B. C. Long et al. (1992). The clerical workers who participated were employed in both large and small organizations in the same large western British city in which the managers were employed. The clerical workers volunteered in response to written requests for participants that I circulated in the media and by networking. The notices were directed to full-time female clerical workers and indicated that the purpose of the study was to investigate how clerical workers experienced Occupational Stress. No incentives were offered other than a final summary report. à Ã… ¾f the 284 respondents who made contact by telephone, 273 met the criteria for inclusion (i.e., they were employed in a clerical position, worked more than 20 hours per week, and did not supervise others). à Ã… ¾f the 273 clerical workers who met the criteria and were distributed questionnaires at Time 1, 39 withdrew from the study because of lack of time to participate, 7 no longer met our criteria because of promotion, unemployment, or leave o f absence from work (e.g., due to accident or illness), and 4 moved. The overall dropout rate was 18%. Dropout analyses were conducted on the demographic variables measured at Time 1. No differences were found between the retained (n = 223) and dropout (n = 50) respondents. Chi-square analyses of the demographic variables (marital status, education, number of children, job level, and size of the company) were not significant. Because 9 participants identified a personal rather than a work stressor, their data were omitted from the model testing. All respondents were self-identified clerical workers. Job classifications included clerks (25%), secretaries–stenographers (23%), administrative assistants (34%), and others (18%). The mean age was 39.77 years (SD = 9.46, range = 22–63 years). Fifty-three percent of the clerical workers were married, 22% were single, and 25% were divorced, separated, or widowed. Fifty-three percent were parents. Twenty-four percent had a high school education or less, 42% had special training (e.g., secretarial, clerical), 17% had a college education (2 years postsecondary), and 13% had a university degree. Household incomes ranged from less than $25,000 (British) per year (23.4%) to over $61,000 (British) per year (27.5%). The major industries represented were education (31%), service (35%), utilities and public administration (12%), manufacturing and transportation (10%), and other (8%). On average the women had been in the workforce for 17.02 years (SD = 8.74,