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aadiyogi123 · 1 year

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Introduction

In the dynamic world of aviation and hospitality, excellence and professionalism are paramount. As the industry continues to evolve and expand, so do the opportunities for those seeking a fulfilling career in these sectors. If you've ever dreamed of working in aviation and hospitality, Delta Aviation has the perfect pathway to your dreams – a Diploma in Aviation and Hospitality.

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Don't miss the chance to turn your passion for aviation and hospitality into a lifelong profession. Join Delta Aviation's Diploma in Aviation and Hospitality program, and embark on a journey that will redefine your career trajectory.

Take the first step towards your dreams today by enrolling at Delta Aviation. Your exciting career in aviation and hospitality awaits!

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crookedkittyobservation · 2 years

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maximumkingdomdonut · 2 years

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miniaturewhisperspatrol · 2 years

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mostlysignssomeportents · 3 years

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“Saying the quiet part out loud,” is a cliche, but like so many shopworn phrases, it has its roots in real truths that bear repetition.

Back in 2017, a bunch of Wall Street bros shouted the quiet part out loud.

https://www.vox.com/new-money/2017/4/29/15471634/american-airlines-raise

The occasion was an American Airlines earnings call in which management revealed that the company had recorded solid profits and was going to use some of them to bring pilots and flight-attendants wages up to parity with Delta and United.

Wall Street lost its shit. The iconic example was Citi analyst Kevin Crissey, who whined:

“This is frustrating. Labor is being paid first again.”

Wall Street agreed with Crissey. AA’s share price plummeted.

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Crissey was voicing a fundamental truth:

Irrespective of how much profit a company makes, the investors’ earnings go up when the workers’ earnings go down.

Now, it’s true that happy, secure workers can be more productive and secure higher profits, but that doesn’t automatically mean that paying higher wages will make more money for shareholders.

If the additional sums needed to make workers happy and secure swallow the excess profits that security generates, then investors are better off with miserable, scared, unproductive workers.

Not only that: if the investors’ position is short-term, looking for the highest yield over a single quarter or even less, the fact that higher wages will lead to long-term advantages, like worker retention and productivity, is irrelevant to the investors’ interests.

That’s the quiet part: between workers and investors, there’s a zero-sum game. Forty years of anti-labor policies (undermining unions, workplace protections) culminating in the “gig economy” all-out assault on the idea of employment itself have papered over this core truth.

While gig economy companies were spending $200m in deceptive scare-ads to pass California’s Prop 22 — which formalized worker misclassification, allowing bosses to fire employees and re-hire them as union-ineligible “independent contractors” — they insisted this was good for workers.

“Worker flexibility” has been the rallying cry of the shareholder class for decades — even as they maximized employer flexibility and bound workers in legal and economic shackles.

The number one source of noncompete agreements in America today is fast-food chains — where a sub-starvation minimum-wage (or tipped minimum) job is likely to come with a legal prohibition on taking a better job in the industry for three years after you quit this one.

Thus bound over to their employers, workers were subjected to zero-hours contracting terms, where you are not guaranteed any shifts in a given week, but must take all shifts you are offered.

If you’re scheduled for a graveyard shift until 3AM and then a morning shift the next day that starts at 6AM, you have two choices — take the double-shift or look for work elsewhere (just not in the same industry).

This “flexibility” transfers all the value from the employees’ side of the ledger to the bosses’. Bosses get to schedule based on demand, or in order to ensure that workers don’t cross the weekly hours threshold that would entitle them to benefits.

Workers, meanwhile, can’t schedule another job, or childcare, or continuing education. There’s a tiny minority of legit freelancers (including me) for whom contract work is genuinely beneficial — but almost every “independent contractor” is actually a misclassified employee.

A new McKinsney-Ipsos poll shows up the myth of the happy, flexible contract worker. 62% of gig workers overall want real jobs — that number rises sharply for PoCs in gig jobs: for immigrant workers, the figure is 76%.

https://www.mckinsey.com/about-us/covid-response-center/covid-19-impact/impact-on-economies/unequal-america-ten-insights-on-the-state-of-economic-opportunity#

As striking as that figure is, it is even more significant when places alongside another finding: 70% of employers want to fire their workers and replace them with part-timers, temps and gig workers.

Employers have always been comfortable with waging class war — they just don’t like to talk about it.

The poll found that most Americans have a poor economic outlook and half of US workers are “on the brink of financial ruin.”

Despite neoliberal rhetoric, a firm that replaces jobs with gig/contract/temp roles is not engaged in “job creation.”

That is literal job destruction — turning “jobs” into precarious, sub-starvation contracts with no rights or protections.

Workers do want “flexibility” — like protection from noncompetes (the flexibility to take a better job), from arbitration waivers (the flexibility to sue your abusive boss).

Workers want protection from arbitrary shift assignments (the flexibility to plan your family and other work and life activities), universal health care, child care and sick leave (the flexibility to take care of your health without losing your job and home).

Flexibility is great, but like wages, it’s zero-sum. The more flexibility workers have, the less flexibility their employers have. Giving workers flexibility means depriving employers of the flexibility to abuse, underpay and fire those workers.

Workers are wise to that fact. The quiet part has been said out loud, forcefully and for a long time.

#pluralistic

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jazzyquarterblugs · 4 months

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PT2 More school drawings before school ends!!

⚠️TW!! BLOOD! HORROR!

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leahlikesbread · 3 years

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td ameritrade options trading Kansas

Most reputable online options accounts offer a function known as "virtual trading". This is a function which allows you to practice options trading using real prices with identical trading interface but using fake money rather than real ones. Virtual trading, or paper trading, is the most important step in verifying your options trading knowledge before you do it for real. Very often, beginners will find the confidence they build up in the education phase fizzle out really quickly in virtual trading as they see the fallacies of their methods and perhaps even find holes in their options knowledge which requires more education to patch up. Those options beginners who went ahead with real trading following their theoretical options education usually end up losing all their money and quitting options trading altogether. This is why paper trading is such an important step in the overall options learning process.

Table of Contents

td ameritrade options trading Kansas The best advice I can give to beginning traders is the following points.

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00. 00 credit with 30 days until expirationLet's use example #2. The max profit on this vertical spread is $2. 00. If you took no further action after placing the trade the max loss is $5. 00 (width of the strikes) minus $2. 00 (credit received) =$3. 00. But, I never take the max loss. The most I would risk on this trade would be half of the max profit, $1. 00. So if xyz never touches $51. 00 I will win the trade. If your technical skills are descent this will happen a lot of the time for you. If xyz which was trading at $53. 20 when I put the trade on trades down to $51. 00 I am going to get stopped out of the trade. My analysis was wrong on direction and I lost the trade right? Well, it depends. If on the day that I put the trade on xyz trades down to $51. 00 I will take the max loss of $1. 00. This is the type of option you want to sell because every day that passes that $3. 00 time premium paid will decrease. If you bought this $60. 00 call you would need xyz to rally passed $63. 00 at expiration to make money.

Important Skills:

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profiting from weekly options how to earn consistent income trading weekly option serials Kansas As with most subjects, mastering the fundamentals of options trading is the best starting point.

After that you can study winning strategies and then apply them in the real world.

day trading course options Kansas If you have money in the markets whether you're managing it or letting someone manage ask yourself this very important question.

I never risk more than 2% and that is very rare. I usually risk. 5% of my account per trade. To sum it all up, there are many ways to make extra money. I believe trading is one of the best. It's rare to find an opportunity that can have a plan behind it where are the scenarios both positive and negative are understood. If the good vs. bad scenarios make sense with that plan than that's a plan that will work over time. You can also start making money fast by buying options. The most important part of option buying is you have to have to know exactly which options to buy. You don't want to buy the wrong options because you'll lose all of your money!Option BuyingWe all want to make money fast. Luckily there are ways to do it it's simply learning what they are and how to apply them. Many people say options are risky, which they are if you don't understand them. � If you understand options you can use them to reduce risk and maximize profit. � If you like to trade directional or trend trade there is no better way to do that than options. � Lastly if making huge explosive gains in your trading account interests you then you need to learn how to buy options correctly. It is the best way to make money fast. For example, buying an option that has little chance of ever being worth money doesn't make sense. The sad part is people do this all of the time because those options are relatively cheap. There are two components of an option. They are the intrinsic value and extrinsic value. Let's begin defining them both� Stock xyz is trading at $60. 00. � The $50 call with 100 days until expiration is trading for $11. 00The intrinsic value of that option is $10. 00 because the difference between the price of xyz and the strike price is $10.

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Meaning if I win I'll make twice as much as what I was risking if I got stopped out on the first day. With these free money making ideas the fact that your risk decreases day after day as long as you're still in the trade is the most important part of this strategy. The best part about these free money making ideas is if you get stopped out on the 5th day you may only lose $0. 70 on the spread. As you can see with these free money making ideas the probabilities are in your favor. To make this strategy stick I'll outline the main point one more time. � The only way you lose money is if you get stopped out in the first fifteen day's. The amount you lose depends on how many days pass before you get stopped out. � If you don't get stopped out you win twice as much as what you would have lost if you got stopped out on the first day. � Risk diminishes over time on a trade that you should win over 50% of the time with a 2-1 reward ratio. Notice a these few important points in this strategy.

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The sad part is people do this all of the time because those options are relatively cheap. There are two components of an option. They are the intrinsic value and extrinsic value. Let's begin defining them both� Stock xyz is trading at $60. 00. � The $50 call with 100 days until expiration is trading for $11. 00The intrinsic value of that option is $10. 00 because the difference between the price of xyz and the strike price is $10. 00. The extrinsic value of that option or time premium is $1. 00 because that is the extra premium paid for the option that has no real value. This is a good option to buy because it is way ITM (in the money). You don't want to buy options with a lot of extrinsic value. Those are the ones you want to sell. If you bought this option you would begin to make money as the stock begins to rise because it has a high delta (rate of change of the option). This option would make money fast because it would move quickly in price with the stock. Let's look at another example to bring home the point of the kind of options you want to buy. � Stock xyz is trading at $60. 00� The $60. 00 call is with 45 days until expiration is trading for $3. 00The intrinsic value is $0. 00. It has no real value because it's OTM (out of the money)The extrinsic value is $3. 00. This is the type of option you want to sell because every day that passes that $3. 00 time premium paid will decrease. If you bought this $60. 00 call you would need xyz to rally passed $63. 00 at expiration to make money. So, the strategy I recommend is to buy ITM (in the money) options with a delta of at least (. 7) or higher and at least 60 days until expiration.

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This is why adhering to the steps in learning to trade options are so important.

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95 because there is less time for it to be worth something. There are a few important parts to my overall trading plan. 1. Price and plan for entering2. Choosing the correct strategy3. Plan for exiting the trade4. Position SizeAll four of these pieces to the puzzle are very important. The one I will focus on now is choosing the correct strategy. The following are my favorite defined risk option spreads. � Verticals� Calendars� Butterflies� Iron Condors� DiagonalsWhen I was looking for ways to make extra money I began trading. The problem I had as a beginner with my trading was I learned all of these strategies and started trading them but I didn't have a plan for exiting and managing the positions. That part is just as important as the actual strategy. For example, one of the strategies I began trading to make extra money is called a bull put spread. The trade is made on a stock you think is going to go up. I would collect $2. 00 on a $5. 00 wide spread. Then I would simply put it on and let it on and let it go with no exit plan. I wanted to find ways to make extra money but I was losing $3. 00 on my losing trades using this strategy with no plan. Some of these would expire worthless and I would make the $2. 00 but some would go against me and I would take the max loss. Now I learned how to manage those positions and make the $2. 00 on my winners consistently and only lose $1. 00 or less at most! Trades that take on too much risk compared to reward aren't going to work over time. Controlling risk is the most important part of trading.

Important Trades:

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jamesstegall · 3 years

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Stop saying “delta plus.” It doesn’t mean anything.

If you’ve been worried by recent news stories about a strain of covid called “delta plus,” it may freak you out to hear that scientists just expanded the delta family from four variants to 13.

Please take a deep breath. Scientists would really like you to understand that there’s no evidence delta has learned any new tricks, and these new names are for helping keep track of covid’s evolution—not nine new reasons to panic. And many researchers are also really, really hoping you’ll stop saying ‘delta plus.’

“The name ‘delta plus’ is completely incorrect, because it gives the perception that this will cause more damage,” says Anderson Brito, a member of the Pango Lineage Designation Committee, which assigns scientific names like B.1.1.7 to new branches of the virus. “So far, we have no evidence any of the mutations affect behavior compared to the original delta variant.”

It might be helpful to think of covid as a tree. Delta is like a thick branch on that tree—a big family of viruses that share a common ancestor and some of the same mutations, which let them spread between people more quickly. When the big branch grows new twigs, which happens all the time, scientists keep track by using technical names that include numbers and letters. But a new scientific name doesn’t mean that those viruses will act any differently than the branch they grew from: and if one of those new branches does start to change its behavior, it gets a new Greek letter, not a ‘plus.’

(Now is a good time to note that while some of delta’s mutations make it more transmissible, vaccines are still very good at preventing severe illness from every known strain of covid.)

What’s in a name?

This naming confusion stems mostly from journalists (and their scientist sources) blending two commonly-used systems of tracking covid’s evolution—despite the fact that the approaches have very different strategies and goals.

The alphanumeric system that gave the first delta variant its scientific name—B.1.617.2—is called Pango. It’s meant for researchers tracking small genetic changes to the virus. It doesn’t determine whether new lineages act differently in people, just whether they’re different on a molecular level. There are currently over 1,300 Pango lineages, 13 of which are considered part of the delta family.

The name delta, meanwhile, comes from the WHO system, which is meant to simplify genomics for the general public. It gives names to related covid samples if it believes they may be of particular interest. There are currently eight families with Greek letters, but until there’s evidence a new sublineage of the first delta strain is acting differently from its parents, the WHO considers them all to be delta.

“Delta plus” takes the WHO designation and mixes it up with Pango’s lineage information. It doesn’t mean the virus is more dangerous, or more concerning.

“People get quite anxious when they see a new Pango name. But we should not be upset by the discovery of new variants. All the time, we see new variants popping up with no different behavior at all,” says Brito. “If we have evidence a new lineage is more threatening, WHO will give it a new name.”

Tracking evolution

“For a genomic scientist like me, I want to know what variations we’re seeing,” says Kelsey Florek, senior genomics and data scientist for the Wisconsin state public health lab. “For the greater public, it doesn’t really make a difference. Classifying them all as delta is sufficient for communicating with policy makers, public health, and the public.”

Fundamentally, viral evolution works like any other kind. As the virus spreads through the body, it makes copies of itself, which often have small mistakes and changes. Most of these are a dead end, but occasionally, a copy with a mistake replicates enough inside a person to spread to someone else.

This week, scientists split delta’s ‘children’ into 12 families in order to better track small-scale local changes. None of this means the virus itself has suddenly changed.

As the virus spreads from person to person, it accumulates those small changes, allowing scientists to follow patterns of transmission—the same way we can look at human genomes and identify which people are related. But in viruses, most of those genetic changes have no impact on the way it actually affects individuals and communities.

But genomics scientists still need a way to track that viral evolution, both for basic science and to identify any changes in behavior as early as possible. That’s why they are keeping a close eye on patterns in delta, especially, since it’s spreading so rapidly. The Pango team continues to split descendants of the first delta lineage, B.1.617.2, into sub-categories of related cases.

Until recently, it had registered 617.2 itself, plus three “children”, called AY.1, AY.2, and AY.3. This week, the team decided to split those children into 12 families in order to better track small-scale local changes—hence the total of 13 delta variants. None of this means the virus itself has suddenly changed.

“Especially at the margins, with these emerging variants, you are splitting hairs,” says Duncan MacCannell, chief scientific officer of the CDC’s Office of Advanced Molecular Detection. “Depending on how those definitions are crafted and refined, the hairs can split in different ways.”

What matters to the public?

It’s worth noting that not all variants with WHO nicknames are equally bad. When the organization gives a new family a name, it also adds a label telling us how worried we should be.

The lowest level is a variant of interest, which means it is worth keeping an eye on; in the middle is a variant of concern, like delta, which has clearly evolved to be more dangerous. Often, variants of interest are given that label because they share a mutation with variants of concern—they’re under surveillance.

The CDC has an additional, more severe category, a variant of high consequence, which has never been given to a family of covid. It’s reserved for potential future strains that might cause serious illness in vaccinated people, don’t show up on commonly-used diagnostic tests, or perhaps resist multiple treatments for covid symptoms.

The two Pango lineages that are most commonly being referred to as ‘delta plus,’ AY.1 and AY.2, both have a mutation previously seen in another variant of concern, called beta, which first emerged in South Africa. But in the several months since AY.1 and AY.2 emerged, there has been no sign they behave any differently than their parent.

“We identify mutations that we think have significance, and there’s some evidence to support that. Sometimes those pan out, and sometimes they don’t,” says MacCannell.

So if they don’t act any differently, why are many public health agencies—including the CDC—splitting out the sublineage of delta cases when they report their figures?

“A lot of it is trying to head off questions. If we just put up a ticker that says, ‘delta has this many cases,’ we get questions like, ‘do we have any AY.3? I’ve heard that AY.3 is concerning,’” says Florek, who created Wisconsin’s covid sequencing dashboard. “It’s not just the media. It’s facilities, hospitals, clinics—all the customers we serve as a state public health laboratory.”

“As far as what the best approach is? I’m really not sure. I think we’re all kind of learning the best way to communicate the necessary information, in a way that’s actionable and interpretable by a large audience.”

Scientists will always have educated guesses about which genes are linked to changes in behavior. That speculation, though, is often based on lab experiments that look at the effects of individual genetic changes.

In reality, mutations happen randomly across the genomes of viruses in all the millions of people who are infected. Some of those mutations die out, and a few spread to other people. As changes accumulate, they interact with one another, and with human actions, in complicated ways to give rise to real-world behavior.

It takes a long time for scientists to do the research and really understand what’s going on—a lot longer than it takes to write a news story or post a paper online without peer review.

“Genomics is not everything, it’s the beginning of the story. It tells us that this variant exists,” says Brito. “We can be anxious when there’s a reason, but not for minor changes.”

This story is part of the Pandemic Technology Project, supported by The Rockefeller Foundation.

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#IFTTT #MIT Technology Review

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your-dietician · 3 years

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India Supercharged Its Economy 30 Years Ago. Covid Unraveled It in Months

New Post has been published on https://tattlepress.com/economy/india-supercharged-its-economy-30-years-ago-covid-unraveled-it-in-months/

India Supercharged Its Economy 30 Years Ago. Covid Unraveled It in Months

(Bloomberg) — Thirty years ago, on a summer evening in late July, India liberalized its Soviet-style economy in a transformation that eventually pulled about 300 million out of poverty, fueling one of the biggest wealth creations in history.

Then came the world’s fastest coronavirus surge which left overflowing hospitals turning away the dying and crematorium smoke darkening city skies.

Years, and perhaps decades, of progress have been unwound in months, as many Indians who had clawed their way out of poverty face grim job prospects and carry heavy debt loads wracked up to get themselves and loved ones through the pandemic. The devastation has highlighted just how much poor health care and infrastructure — often neglected in the boom after liberalization — are holding back the nation and its people.

More than 200 million have gone back to earning less than minimum wage, or $5, a day, the Bangalore-based Azim Premji University calculates. The middle class, the engine of the consumer economy, shrank by 32 million in 2020, according to the Pew Research Institute. That means India will be regressing on vital fronts just as its global importance is growing.

This decade, India is expected to become the world’s most populated nation, taking that mantle from China, which for years drove global growth. But the Indian economy is grappling with big threats even as it becomes home to the kind of young, working-age population that drove lengthy booms in other nations.

“We’re talking about a decade of lost opportunities and setback,” said Arvind Subramanian, a fellow at Brown University and a former chief economic advisor to Prime Minister Narendra Modi’s administration. “Unless there are some big reforms and fundamental changes in the way economic policy is done, you’re not going to be anywhere close to what we saw in the boom years. A lot needs to happen in order to get back to the 7%, 8% growth that we desperately need.”

Even before the pandemic, cracks had begun to emerge. Modi came to power in 2014 amid voter frustration over scandals and policy paralysis that had contributed to bad loans at banks and threatened to derail Indian growth. Yet, the economy has faced other hurdles in recent years including Modi’s 2016 cash ban, which roiled the informal sector, and a hurriedly implemented new tax system.

Story continues

Modi had pledged to turn India into a $5 trillion economy by 2025, but the pandemic is set to push that back by years. The International Monetary Fund expects India to grow 6.9% in the next fiscal year that starts in April 2022, lower than the more than 8% needed long term to reach Modi’s ambitious target and create jobs for the millions entering the work force.

Jim O’Neill, chairman of Chatham House in London — who coined the term BRICs to describe the emerging markets of Brazil, Russia, India and China while serving as a top Goldman Sachs Group Inc. economist — is these days cautious on India, largely because the government hasn’t made many of the long-term structural changes he believes are needed for it to reach its full potential.

When still at Goldman Sachs, O’Neill says he presented a paper to Modi in 2013, before he became prime minister, recommending 10 things that would allow the Indian economy to be 40 times larger by 2050. The list included making substantial improvements to areas like infrastructure, education, introducing better public-private partnerships in areas like healthcare, further liberalizing financial markets and working on environmental issues. Modi hasn’t fully pursued these ideas, O’Neill said.

“India’s got these fantastic demographics, which should have given it the potential to be rising a lot more strongly, possibly at the same kind of double digit rates China enjoyed for a long time,” O’Neill said. Yet “the Indian system seems to quite often smother itself, as we’ve seen sadly a few times during the Covid pandemic,” he said.

A government spokesperson didn’t respond to request for comment, but the Modi administration has in recent weeks acknowledged the need for longer term changes. “If we are looking at getting growth — of 8%-10% — back on a sustainable path, we have to think about not just a current revival,” Sanjeev Sanyal, the government’s principal economic adviser, said at the India Global Forum on June 30. Structural changes are needed and to that end the government is constantly opening up new sectors of the economy, he said.

Once the fastest-growing major economy, India saw its biggest ever contraction last year — shrinking more than 7% — after a stringent nationwide lockdown. Just when the economy started showing some momentum, another wave of infections hit the nation. This year, the central bank expects India to grow at 9.5%, sharply lower than the double-digit rebound many had earlier expected. That estimate is heavily boosted by the comparison with the sharp contraction of the previous year, and many economists expect it could be pared even further.

Foreign direct investment surged 19% last year, but even that remains lower as a percentage of GDP compared with countries like Singapore and Vietnam. And a big portion of the foreign investment went to billionaire Mukesh Ambani’s digital platforms.

Some experts, including former central bank head Duvvuri Subbarao, have warned of a K-shaped recovery for India, where the rich get richer and poor get poorer. “Growing inequalities are not just a moral issue,” said Subbarao. “They can erode consumption and hurt our long-term growth prospects.”

The of the two richest men in Asia – Ambani and ports magnate Gautam Adani — are Indians, and their net worth has surged as stocks rallied on the back of cheap liquidity worldwide and tax cuts for companies even as economic growth slumped. Meanwhile, overall Indian wealth — or the value of financial and real assets owned by households minus debts — fell by $594 billion, or 4.4%, in 2020, according to Credit Suisse Group AG.

Thirty years ago, India was forced to remake its economy. A mammoth trade deficit and plunging foreign exchange reserves necessitated a loan from the International Monetary Fund. On July 24, 1991, then finance minister, Manmohan Singh, announced major steps to cut tariffs and encourage trade, essentially opening up the economy to the outside world.

In the boom that followed liberalization, growth crossed 8%. Technology giants like Infosys were born and start-ups worth billions are now mushrooming in Bangalore. A new middle class emerged that watched Netflix and shopped online on Amazon. In the south, the Wistron factory won special economic benefits to assemble Apple iPhones. India became the world’s biggest supplier of generic medicines and the Serum Institute of India became the world’s biggest vaccine maker. An Indian exchange now handles the world’s highest number of derivatives contracts.

Yet there were signs that India wasn’t hitting its full potential. Average GDP growth of 6.2% over 30 years has been lower than China’s 9.2% and even lagged Vietnam’s 6.7%. For years, Indians have been living shorter lives and are now earning less on average than people in smaller nations like Bangladesh.

Vast inequities developed. Researchers have found wealthier people in urban areas and from upper castes were taller in India, a sign of development favoring groups that were already advantaged. The percentage of women joining the workforce fell from 30.3% in 1991 to about 21% in 2019, according to data from the International Labor Organization. India’s government spent less than 2% of GDP on healthcare before the pandemic.

“Had the healthcare system not been so neglected for so long, India would have been prepared to face the Covid-19 crisis,” said Jean Dreze, the Belgian-born Indian economist and a lecturer at Delhi University. “Had India built a more robust social security system, the humanitarian toll of the crisis would not have been so catastrophic.”

Unlike the old guard in 1991, Modi has turned the economy more inward, focusing on self-reliance and homegrown companies. Despite championing free trade in global forums, he’s raised tariffs on goods including electronics and medical equipment, partly reflecting global trends.

Some of those decisions came back to haunt India when citizens struggled to import life-saving products like oxygen concentrators during the pandemic. Top scientists wrote to Modi, asking him to reverse protectionist duties imposed on key items needed to study the coronavirus and its variants including the delta one, which now threatens the globe.

After pledging to contribute to global vaccine programs, the Modi government slowed exports of Covid-19 shots, derailing the inoculation program of a World Health Organization-backed initiative.

“India’s ambition of being seen as a major player on the world stage has taken a substantial hit as the pandemic has laid bare the weaknesses in the capacity and competence of its government,” said Eswar Prasad, professor of trade policy at Cornell University.

The key question for global investors now is whether India will get old before Indians get rich. Netflix is counting on India for its next 100 million customers. Bezos is pouring billions of dollars — and even braving Indian courts — to battle India’s richest man Ambani for a slice of the only open retail market with more than a billion people.“The pandemic has set us back hugely, and we were already on a growth downswing when it happened,” said Indira Rajaraman, an economist and a former member of the Reserve Bank of India’s board. “Going forward it all depends on how cleverly we design the way we come out of these doldrums.”

More stories like this are available on bloomberg.com

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thestrategicmom · 4 years

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How Trader Joe’s Can Emerge from COVID-19 As The Greatest of All-Time (G.O.A.T.) Grocery Chain

The following post is not a paid promotion or endorsement.

Despite our changed COVID-19 reality, there’s one thing that remains constant…our need for food. While some may depend on takeout or even growing their food, there’s a high likelihood that you or someone in your household will be thinking about, planning for, or venturing out to do some grocery shopping in the near future. Last week, it was time for me to restock on groceries, so I put on my mask and ventured out to one of my favorite grocery store chains, Trader Joe’s. Founded in California in 1967 by a man named Joe, Trader Joe’s has earned a cult-like following over the last decade.

Why do I and so many others love Trader Joe’s so much? I’d say it’s a combination of their high quality one-of-a-kind products, crazy affordable prices that are generally 16% lower than other grocery stores, and customer service with a genuine personal touch. I’ve always been impressed with Trader Joe’s fundamental value proposition based on their products, people, and pricing, but seeing their COVID-19 safety measures during my most recent visit, made me realize that Trader Joe’s has the potential to earn the title of G.O.A.T., greatest grocer of all time.

While some may argue that Trader Joe’s has already reached G.O.A.T. status, I see some room for growth. Below, I go in depth into Trader Joe’s fundamental strengths (Product, People, and Pricing), their new COVID safety measures, and an opportunity for them to emerge from COVID-19 as the greatest grocery store of all time by expanding into minority communities .

Products

You can’t start a discussion about Trader Joe’s without talking about their products. In fact, if you’ve ever heard someone rant about how great Trader Joe’s is, they probably began by talking about an amazing specialty product that can only be purchased at Trader Joe’s. Whether it’s cookie butter (a delicious biscoff-cookie-flavored spread), or a 10-minute frozen bag meal that tastes like your favorite takeout restaurant at a fraction of the price and risk, Trader Joe’s products have become even more vital now that we’re spending so much time at home.

Here are some of my favorite products (Bonus: Click here to download a free Trader Joe’s shopping list I created):

Undeniably Delicious Frozen Foods: In my humble opinion, Trader Joe’s has some of the best frozen foods I’ve ever tasted, and they’re clearly cheaper than frozen items at other grocery stores. Frozen meals are a quick and easy way to make lunch or dinner in minutes with little prep and minimal cleanup. Some of my go-tos include:

Chinese take-out replacements: Mandarin orange chicken, BBQ chicken teriyaki, the mildly sweet and spicy beef and broccoli, and chicken fried rice. I typically serve the first three with minute rice and bam! Dinner or lunch is served.

Indian take-out replacements: Chicken Tikka Masala (just buy it and I promise you’ll thank me later), vegetable panang curry, and butter chicken with basmati rice

Italian take-out replacements: Mushroom and Black Truffle Flatbread (decadent but so damn delicious), roasted vegetable lasagna (a little pricier than other items but also feeds more people), fettuccine with mushrooms, and stacked eggplant parmesan

Hamburger Helpers: If you’re looking for some frozen meat patties to jazz up your ordinary burger, look no further than Trader Joe’s frozen food aisle. From the turkey burgers and chili lime chicken burgers, to the salmon burgers and mahi burgers (which I like to complement with my favorite seafood seasonings or marinades), their frozen burger patty options are the truth!

Desserts: So, I’ve hated chocolate my entire life (Yes, I know it’s weird…), so I haven’t truly been able to enjoy all the amazing frozen desserts Trader Joe’s offers. However, their macarons, which are also found in the frozen aisle, are one of my all-time favorites. They’re $4.99 for a dozen and allow you to imagine yourself enjoying each bite in a quaint little pastry shop an hour outside of Paris. Don’t we need more food like this in our lives right now? Oui. Oui.

Tasty Yet Budget Friendly Wine : I first discovered Trader Joe’s in college when I was introduced to Charles Shaw wine, or ‘2 buck chuck’. Yes, for just $1.99, you could have your pick of a regular sized bottle of decent red or white wine. While my wine taste has evolved since then, Trader Joe’s still has a large collection of inexpensive, yet tasty wines that I enjoy.

Crazy Affordable Organic Fresh Produce: Another area where Trader Joe’s shines is their fresh produce. Not only do they have a good variety of items, but their organic and non-organic fruits and vegetables are also typically cheaper than their competitors. While there are some who say Trader Joe’s produce doesn’t stay fresh as long as other grocers, that hasn’t been my experience to-date.

Snacks and Munchies: It would take multiple posts to describe the variety of chips, popcorns, and dips Trader Joe’s offers, but here are my top 5 absolute must-haves:

Speculoos Cookie Butter: Think about buying a jar of peanut butter only to find out that someone replaced the peanuts with those delicious biscoff cookies they give away on Delta Airline flights. There are so many different ways to enjoy this finger-licking good spread, but my favorite is dripped over apple slices, or fresh strawberries

Restaurant Style Tortilla chips: I’d put Trader Joe’s restaurant style tortilla chips head-to-head against any other grocery store’s tortilla chips. Heat them up in the microwave for 10 to 15 seconds and you’d swear they came straight out of your favorite Mexican restaurant.

Roasted Plantain chips: Delicious and a great snack for little people; can easily be paired with guacamole, queso, or any of your favorite dips

Spinach and artichoke dip: While this is technically in the frozen food aisle, I placed it here because it epitomizes the very essence of an appetizer or snack. Warm the dip up in the microwave per instructions on packaging, and garnish with grated parmesan. Serve with pita chips, tortilla chips, or crackers. It’s crazy delicious. Nothing more to say.

Rhubarb and Strawberry soda: So this isn’t a snack per se, but I couldn’t end our product list without shouting out one of my fizzy indulgences and the perfect addition to any mocktail or cocktail. It’s great by itself, and can be used to create a simplified twist on the strawberry mojito. Bottoms up!

Pricing

Beyond products, what makes Trader Joe’s value proposition so compelling, particularly during this time, are its prices. At most grocers, you have to pay a premium for quality; however, at Trader Joe’s, that isn’t always the case. You can easily get quality, uniqueness, and affordability all in one place, and often from one item. Why is that, you ask? 80% of Trader Joe’s products are made for its private label, which means their supply chain costs are much lower, allowing them to pass these cost savings on to consumers.

People

While their products and pricing help Trader Joe’s stand out amongst their competition, many would argue that their strongest attribute is their people. As a proud customer, I would describe Trader Joe’s culture in one word, community. From their friendly cashiers to their crew members passing out samples with a smile, they seem like they’ve cracked the code on how to keep their employees engaged, productive, and seemingly satisfied, which is increasingly comforting and pretty inspiring during times like these.

Safety Precautions

Products, pricing, and people have always been integral to Trader Joe’s value proposition; however, I’ve been extremely impressed by how thoroughly Trader Joe’s has adapted to our “COVID-19 new normal” with updated safety precautions. While all businesses are taking additional precautions to help ensure safety amid the constant threat of COVID-19, Trader Joe’s was one of the few grocery stores that made me feel like they’re taking the precautions because they genuinely care, and not as a check-the-box license to operate. I’m not sure if it’s the fact they limit the number of shoppers inside the store, have a strict separation of clean and used grocery carts, or the sight of crew members walking the aisles wiping down items, but they’ve created a level of safety/security that I’ve rarely felt in public since COVID-19 became a reality.

Path to Greatness

While Trader’s Joe’s value proposition is defined by a combination of superior quality, uniqueness, community, and affordability, for its entire history, Trader Joe’s has been a luxury reserved for the educated, privileged, and disproportionately white subset of America that happens to live in one of the high-income areas where the company sets up shop. But, what if Trader Joe’s opened stores in underserved communities of color, helping to combat the countless food deserts across this country? Not only would this provide families in these communities with access to quality, healthy, and affordable food, it would also provide earners in these communities with practical training on customer-centric management, operations and service. While it may sound a little crazy, if done right and in combination with other policies in support of their crew members’ safety and the broader fight for a more just future, Trader Joe’s could send a powerful message and show that they believe in and stand for something far bigger than just paper and green ink.

I’d like to close on a note of gratitude and action...

Trader Joe’s, I appreciate you. I appreciate your products. I appreciate your crew members, and I appreciate the fact that you’re not charging me an arm, leg, and kidney for a bag of avocados. Most of all, during a time when community and public spaces have become synonymous with danger and illness, I appreciate the added safety, communal solidarity and consciousness I felt when I walked into your store.

So Trader Joe’s, consider this a call to action. I implore you to share your shopping experience of empathy and dignity and demonstration of community and love with people who need it most: people living in food deserts across this country who don’t have access to healthy yet inexpensive organic produce and quick meal options; people who would tremendously value and benefit the jobs, skills and employee experience you offer, and people who, just like you and I, want simply to feel their lives, basic needs, and futures matter. During a time of unprecedented uncertainty and fear, you have a transformative opportunity to model a much-needed form of social innovation that pushes us forward as a country and society by championing equality and community. While it may sound idealistic, I believe we can help create a clearer path for these underserved communities to achieve a more just and hopeful future, one grocery store, one policy, and one person at a time.

So what do I need from you as a reader?

Support the fight to ensure equal access to quality nutritious foods by clicking here to sign a petition asking Trader Joe’s to make plans to open at least two stores in the next 18 months in underserved, minority communities.

If you know others who would value the information listed above and feel comfortable holding our corporations to a higher level of accountability for people over profits, then share this post and ask others to sign the petition.

If you enjoyed this post and would like more information on being intentional with your life, join my mailing list for updates and check out my posts on value and goal-based living, intentional self-care, childcare and development, and relationships.

#Trader Joes #The Strategic Mom #Groceries #Shopping

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leahlikesbread · 3 years

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seajudge70-blog · 5 years

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Why 'National School Lunch money' is so important to poor kids in Arkansas

I've written about the noise that followed Sen. Alan Clark's introduction of a bill to punish school districts with low reading scores by taking their state "school lunch money." As I explained from the beginning, this isn't food money but money important to help improve the education of the poorest, most at-risk kids in Arkansas. And an educator has stepped forward to explain just how important.

Confusion about the bill, on account of the name of the categorical funding (awarded to schools based on their percentage of poor students qualifying for subsidized lunches), has allowed Clark to dodge the real story — how damaging it would be to require a 70 percent achievement rate on reading scores to qualify for full additional education money. (Clark would take it all after three years of a district's failing to improve. Dozens and dozens of schools don't meet that standard and have struggled to improve under the state's new testing regimen.)

Into the issue steps Glen Fenter, a former community college president who's now superintendent of the Marion School District in a part of the state, the Delta, that knows the needs of poor students and how hard it is to reach them. He wrote to me and we later talked. He said in an initial e-mail:

It would be impossible to overstate the importance of NSL [National School Lunch] funding to our efforts to break the cycle of poverty in our region. I wish that every legislator would take the time to spend just one day in an eastern or southern Arkansas poverty-laced classroom. I am confident that most would have a number of profound epiphanies prior to the conclusion of their day.

Fenter also put together a paper on the subject. I'd recommend it to any legislator inclined to take away money meant to lift the performance of at-risk students. Yes, the categorical funding program needs some improvement to make sure it's used for what it's intended to do. But the solution is NOT to take it away from those who need it most. I'd particularly urge Fenter's paper on those who are inclined to make complicated decisions about difficult education situations guided by the false god of performance on a single high-stakes test.

Fenter's paper explains the national move to school standards and how the oversimplification of assessing schools to a single letter grade is short on important information, including student demographics. He notes that Arkansas's system accounts for "improvement" of students during the year, as well as a test score. But he notes that even the test-friendly academics at the Walton's "school reform" unit at their Fayetteville university think it could stand improvement. Fenter:

Academic growth is what a student learns from one year to another; however, academic achievement can be an extension of what students come to school with in terms of readiness and home experiences and certainly represents a huge variable that must be accounted for when properly assigning value to school efforts.

Alan Clark wants to deprive help based only on the reading score, never mind where those kids started or what impossible situations they might face at home.

The Arkansas school grades, with demographics overlaid, tell the story. The whiter the school the higher the grade. The poorer the school the lower the grade (see chart at top).

There are no A or B-rated high schools in the state with a majority low-income and majority black population, and only four (4) in the entire state of Arkansas received a C rating. All others received a D or F rating

Clearly, children raised in generational poverty can lack intellectual stimulation, emotional support, a literate environment, and physical safety.

Research also concludes that children from single-parent homes have lower graduation rates and lower grade point averages; however, some do go on to have academic success. When controlling for economic and racial differences of the family, students from two-parent homes outperform students from single parent homes across various measures

When Arkansas adopted a grading system in 2015, Fenter writes, schools were assured rewards or penalties wouldn't attach. That's now changed, with substantial rewards for "achievement."

Guess what? The schools with fewer poor students tend to reap greater rewards. Clark's plan would magnify that unfairness.

In Marion, kindergarten students are screened for fundamental skills to identify where instructional support is needed. More than half aren't ready for kindergarten, as measured by the screening. When you start behind, catching up takes a long time. And it gets harder as the student gets older.

This means districts that enroll high numbers of students who start behind are operating at a "distinct disadvantage" when compared to districts with dissimilar demographics, Fenter says.

Any school rating system that does not account for such differences in student population must be categorized as clearly and indefensibly flawed.

Starting behind isn't the only obstacle. Poor kids move a lot. This affects graduation rates and "on-time" credits, both factors in the grading system. Student attendance, another grading factor, is affected by lack of transportation and poor health. There's also a factor for community service in grading schools. Seems benign. Not to Fenter:

Schools are rewarded according to the number of volunteer hours that students earn from 9th to 12th grade. Many students living in poverty must work after school to supplement family income and cannot commit those hours to volunteer work. Moreover, schools in poorer communities may well not have sufficient appropriate placement opportunities for their students and/or the resources to meet the new unfunded staffing requirements of the program.

The Lakeview school decision, which required adequate and equal education, is no longer a source of hope for struggling districts, Fenter writes. The Arkansas Supreme Court's new view of sovereign immunity raises the question of whether another challenge of state funding could even be brought. Many think the time would otherwise be ripe. The legislature regularly falls short in meeting the adequacy standard in financing.

There also has been inconsistent funding for programs that have proven worth in ending the cycle of poverty, Fenter contends.

We have manufactured a strategy to create a testing and grading model that appears to be intentional in efforts to reward schools based primarily on the affluence of their parents and students.

Fenter has taken his case to education officials. They dismiss him. They think money doesn't count. If only there were enough competition — enough Covenant Keepers charter schools, say (sarcasm about this woebegone school intended) — all would be well. Or so the "reformers" think.

Some arithmetic should help, if facts and not faith mattered. The figures show the poor are getting poorer while the rich prosper.

Fenter sees a return to the conditions that fostered the Lakeview case. The problem now is the fear the Arkansas Supreme Court today would be more responsive to Alan Clark than the thousands of poor kids in Arkansas.

Source: https://www.arktimes.com/ArkansasBlog/archives/2019/02/21/why-national-school-lunch-money-is-so-important-to-poor-kids-in-arkansas

#read more #see more #check it out #interesting #learn more

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jasveerkaur94674-blog · 6 years

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HA3051 Accounting Theory sample

New Post has been published on https://punjabassignmenthelp.com/sample_assignment/ha3051-accounting-theory-sample/

HA3051 Accounting Theory sample

HA3051 Accounting theory Sample Assignment

Accounting theory

Abstract

Accounting theories are very important tools in making decisions that involves the accounts and a lot of finances, these theories also help in providing guidelines for accounting decisions. BP group operation in the Mexican gulf can to a stop when its oil field prospect exploded and caused oil spillage in the Mexican gulf. The Transocean Company was in charge of the operations, although it was only BP that took responsibility for paying the damages of this accident. It is noted that, BP adhered to the Legitimization theory which requires a company to adhere to the norms and value of the society in which it operates

Introduction

There is always a reason behind every action that a man or a company takes; these actions are always supported by sound reasons. Companies are always extra cautious especially when taking a financial or accounting process and therefore the there are theories that man has come up with to help and provide guidelines towards decision making process (Most, 1977). It should be noted that for accounting decisions, accounting theories are very important in guiding or explaining these decisions. This paper will therefore focus on the accounting theories and how the BP group applied the theory during the deepwater horizon oil spill.

Brief overview of BP’s oil spillage

Bp oil spill, also known as Gulf of Mexico Spill or the Deepwater Horizon oil spill is the largest marine oil spill in US history. This catastrophe is a resultant of an explosion on the deep sea horizon along the offshore of the oil platform which a way off 50 miles south East of the River Mississippi Delta. Although the BP Corporation tried to stop the leak it did not succeed but its success in stopping the leak is when it opted to cap the well unfortunately the damage was beyond measure and oil had spill into the Mexican gulf for eighty six days. Although the oil spill had been stopped the impact of its damages were devastating and therefore it arose intense debate and the many interested parties deliberated on the issue. It is speculated that the oil released to the Gulf of Mexico from the PB’s Macon do well was roughly over five million barrels of oil in which the gulf of Mexico directly receiving 4.2 million barrels. The damage estimated was huge and the from the satellite pictures it’s estimated that the total coverage of the oil spill was 68,000 square miles (Houdet & Germaneau, 2011).

Although the Transocean Ltd owned Deepwater Horizon was contracted by PB tasked with the duty of drilling an exploratory well but it is the PB who were the principle owners and developers of the Macon do oil well prospect where the catastrophic accident occurred. Both BP and Deepwater aware at a process of shutting down the well so that they can prepare for future mining while another contracted company, the Halliburton had completed the task of cementing the casings of the well. The US government intervened and in its verdict, BP was to take sole responsibility of the b damage and tasked with the duty of cleaning up the oil spill from the ocean. Although the BP Company did not decline the responsibility but it later felt that both the Halliburton and Transocean should be responsible too since they are partly to blame (Houdet & Germaneau, 2011).

BP’s response this accident had some serious financial implication because it had to release a large group income. It is this company released a pre-taxed amount of US$ 40.9 billion to cater for the damages the occurred due to the Deepwater horizon oil spill, and in from this amount a total of US$17.7 billion was spend in the year 2010 alone. The BP Company had to spend. The Bp as part of generating this amount the BP group had to 0-raise US$20 billion from the sale of its asserts in the US over a period of 3.5 years, these funds will satisfy all the legitimate claims that will be demanded by the independent Gulf Coast Claims Facility, litigations settlements, natural resource damage costs and local and state response costs. The group will fund a ten year research program at a cost of US$500 million that will study the impact of oils spills into Mexican gulf and the effect on the marine and shoreline ecosystem (Houdet & Germaneau, 2011).

Theoretical framework

Theory is a structure that plays the role of uniting the underlying logicor system of reasoning, therefore Accounting theory is logical reasoning in the form of a set of broad principles that give a provision of general frame of reference by which accenting practices can be evaluated and guide the evaluation of new procedures and practices. The accounting theory incorporates fundamental assumptions, debfinations, principles and concepts and the methods used to arrive at their definitions. The process of solving an accounting issue requires a person to have an absolute expertise and well acquaintance in theoretical knowledge and a backup of sufficient practical experience. Like any other theory accounting theory is based on sound reasoning and incorporates a logical and confirmed hypothesis that happens to be accepted by all. There exist a close interaction between accounting theory and the practice of account in a way that separation of the two improves to be a difficulty. The process of developing the theories of accounting involves observation, analysis, explanations, scrutiny and scanning of the daily practice of accounting.

To best suit the explanation of the BP’s case of oil spillage, Legitimacy theory of accounting can suit this scenario. This theory can be vaguely suit a description that businesses are liable to social contracts in which the farms agree to perform a variety of socially desired actions in return for the approval of its goals and other gains, and by this its existence is guaranteed (Ventureline, 2016). Legitimacy theory is one of the corporate strategy theories that is most cited and closely related to public relations theories. To understand this theory it important to expound on the term legitimacy, which refers to a generalized perception that, actions of an organization are justified within a given social system? In organizational context, legitimacy exist when organizational objectives, outputs and operational methods are in compliance with the value and norms of the larger societal system of which the organization is part of it (Wilson,2002). The basic argument of the legitimacy theory is an organization pursue legitimized activities due to the influence the external aspects on the administration. An organization that applies this theory ensures that its actions are based on the norms, culture and being legitimate with the society and therefore, ensuring its actions are legitimate and acceptable by the society. The organization will disclose its environmental information as motivated but this theory; it will also bus PR as a tool to legitimize its activities. This theory describes how an organization with all its mechanisms, operations and structures has gained acceptance in the society (Glautier, & Underdown, 1976). Legitimization has several basic strategies which includes;

Adjust the perception of the relevant public without adjusting the behavior of the organization.

Inform and educate the society on the adjustments of the organizations’ activities and performances

Adjust the external expectations of organizational performance

Manipulate the public’s perception by deflecting the focus from the fundamentals issue of concern to other related issues by appealing to the masses (Riahi-Belkaoui, 1981).

Analysis

BP group is a multinational company and for it in handling the deepwater Horizon oil spill accident, it took all the responsibility for the damages that resulted from the oil spill, this company incurred the losses at the expense of selling it US asserts to cater for the damages and the litigation claims and even to sponsor the research on the ecosystem and lastly it also invested majorly on the cleanup process to get rid of the oil spill from the Mexican gulf. It is noted that, this farm applied the legitimacy theory of social and environmental accounting (Houdet & Germaneau, 2011).

The BP group had to take the responsibility for the oil spill to legitimize its activities with the people of the alongside the cost of Louisiana and the Mexican bay. To foster its image and its principles of operation, the company had to take a sole responsibility for the oil spill even though two other companies were involved in the accident. BP also made sure the public is educated on the damages its actions had caused by setting up funds to cater for a ten year research into the damages its operations had caused. BP sought the societal approval in line with the legitimacy theory by setting aside funds that will compensate for the damages caused by the oil spills. It can be concluded that the BP Company honored the requirements of the Legitimacy theory by seeking approval of the society and taking responsibility for its actions (Houdet & Germaneau, 2011)

The BP group agreed with the legitimacy theory, by adjusting the expectations of its performances to suit the interest of the public which it had caused damages. This company’s operations in the United States incurred serious damages and losses but because of its legitimization, it had to sacrifice its US asserts to cater for the damages it had caused to the society an nd environment. Although the company’s operation is to make profit, but its societal norms and values binds the company to fulfill the demands of the society (Houdet & Germaneau, 2011).

BP adhered to the legitimacy theory by changing the relevant public perception without adjusting its practice behavior. This company continued in its operations of oil exploration in other areas while in the Mexican gulf it had to fulfill the demands of the relevant public. The government found BP solely responsible, but because this group is bounded by the regulations in the legitimacy theory, the company had to comply with the demands even though there were two other companies that could take responsibility (Houdet & Germaneau, 2011)

Conclusion

The legitimacy theory bounds a company to the norms and values of the people around its area of operations. The organization will formulate its goals and targets in a way that will ensure a good relationship is fostered with the public are located. Implementation of this policy requires that the company to consider the interest of relevant people, among whom it has to educate about their activities and procedures.

The BP group can be commended as perfect example of a legitimized company, its operations and actions is justified by how it responded on the deepwater spillage, it made all the efforts to rectify its damages and compensate the society around its operations. BP Company can be commended on the efforts it made to legitimize its actions even though it this actions cost it billions of asserts but it complied with consequences to clear its name and maintain a good perception with the relevant public

References

Glautier, M. W. E., & Underdown, B. (1976). Accounting theory and practice. London: Pitman.

Houdet, J & Germaneau.(2011). The financial impacts of BP’s Response to the deep water horizon oil spill. Comparing damage valuation approache & highlighting the need for more reliable environmental accounting and reporting. Case study 2011, Synargiz. –A@L Interrated sustainability services,P5

Most, K. S. (1977). Accounting theory. Columbus, Ohio: Grid.

Riahi-Belkaoui, A. (1981). Accounting theory. New York: Harcourt Brace Jovanovich.

Wilson, H. T. (2002). Capitalism after postmodernism: Neo-conservatism, legitimacy and the theory of public capital. Leiden: Brill

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ronainsbury-blog · 6 years

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Education For The Next Economy – a personal view

The theme of this year’s Rotterdam TEDx series is Great Heights. At first you may wonder what the connection is between food and education and great heights. I hope it will become clear.

Food courts Food courts are very popular across Asia. In the modern metropolis of Singapore – people still flock to food courts like Newton Circus.

Most shopping malls will have a floor or a large part of a floor devoted to food. So even in luxurious shopping malls featuring shops selling all the latest Parisian fashion – there will be plenty of food choices.

They are a more recent phenomenon in The Netherlands. At Erasmus University there is a modest food court for students. In Utrecht – they have Speys as part of the Jaarbeurs convention centre – and of course, here in Rotterdam – we have the new Markthal offering a wide variety of foods – although strictly speaking this is not a true food court – as it is not possible to find a table where you can sit down and have a family eating food from multiple food stores.

In a typical food court, you'll find there is a wide range of food options each served at a specialty outlet.

Individuals can mix and match their selections and then come together in the centre and converse over their separate meals.

Families love this because in one spot you can satisfy mum, dad, grandma, grandpa, and all the kids – each eating their favourite food.

Perhaps one will see that something another person is eating looks tastier and decides next time to try that. On the next occasion each is free to try a different food.

A food court serves food at all hours: breakfast, lunch, dinner and snacks from morning until late at night.

A TED presentation of a few years ago started with this picture – Hogarth’s depiction of a coffee house, often the source of many new ideas that drove the enlightenment – social, political, scientific, and manufacturing revolutions.

Let’s see how a modern day food court might fit in.

The 21st Century is truly VUCA We are living in what has been popularly described as the VUCA World. As with much of the modern language of business, VUCA comes from the military, in this case the US armed forces describing conditions in Afghanistan.

V for Volatile – just try to follow President Trump from one day to the next! U for Uncertain – just what will Brexit mean? C for Complex?

The Rotterdam University Research Centre, Sustainable Port City, Duurzame Havenstad, known as RDM to most, has set out 21 trends that could have an effect on the way the Port functions all of which illustrate the potential VUCA.

These trends include the increase in the use of robots and drones, the impact of the circular economy with reverse logistics becoming as important as forward logistics, the rise in renewable energy, and self-propelled vehicles.

Simple arithmetic says that the interaction of these 21 trends adds up to a staggering number of potential combinations.

51,090,942,171,709,440,000!

A for Ambiguous?

We’re already very familiar with robots in manufacturing – but what about Artificial Intelligent robots?

Will these robots yield fewer jobs? Fewer but higher-paying jobs? More jobs – but paying less?

Technology Change We are currently in the 3rd, 4th, or 6th wave – depending on which academic you prefer to read.

The Australians developed the concept of the 6th wave of innovation.

The Germans described the 4th Industrial Revolution – adopted by the World Economic Forum.

And the American academic, Jeremy Rivkin – talks about the 3rd. Whatever it is – the future is being driven by rapid advances in technology. Just looking digital alone – here is one projection of the growth in connected devices. 50 billion by 2020.

Roadmap – Next Economy In an attempt to make sense of the future – 23 municipalities have combined together to set out how the Rotterdam Delta should prepare for this future “In 2025, the metropolitan region of Rotterdam and The Hague will be the international market leader in the design, development, manufacture and marketing of solutions in the area of sustainable living in a heavily urbanised delta region. In the region, coherent solutions will be devised, tested and produced for global logistic, energy, food and safety issues.”

The Roadmap sets out five strategic areas of focus – or future economies - for the Delta:

Smart Digital Delta

Smart Energy Delta

Circular Economy

Entrepreneurial Region

Next Society.

Arising out of this, in Rotterdam we have the Innovation Quarter seeking to redevelop older parts of the harbour known as the RDM and M4H districts. In fact, all this week we have had 90 students, from the Rotterdam Business School and the NEOMA Business School in France, tackling a problem specific to attracting new businesses to the planned circular economy area of M4H.

The question arises, are we preparing our students to be a part of this Road-mapped economy?

The Problem

'The Times' recently published its 2018 world rankings of universities. I was pleased to see my alma mater, Oxford, remaining on top of the global list.

But more troublesome are reports that student satisfaction is low.

A third of students don’t believe their course is offering value for money

Over a quarter believe feedback from tutors is poor and too many students end up regretting their choice of course.

In the recently published book, 'Overschooled and Under Educated' the author John Abbott asserts that education is about preparing children to become good citizens and adults who will thrive at unstructured tasks - not just successful pupils.

In 2014, The London School of Economics found a mismatch between what universities were providing and what businesses need. Their research among CEOs identified three core capabilities sadly lacking in recent graduates:

Problem solving

The ability to connect different parts of the business in a holistic way

Collaboration and teamwork.

These capabilities are echoed in a Twente University paper entitled "21st Century Education".

As the eminent international advisor on education and creativity, Sir Kenneth Robinson, has pointed out, our model of education was developed during the industrial revolution - fit for purpose in the 19th century. If you were to ponder who succeeds in the current system, he asserts - the answer is university professors.

But if we are to achieve the goals of the Road Map then what we don’t want are more university professors.

Greatness? Now, you might be wondering. This is all very interesting, but what does this have to do with greatness? The theme of this conference? Here’s my concern. Are we providing our students, our future leaders, the kind of university education that will allow them to be great? While my focus is on University Business Education – I believe that there are lessons across all levels, from nursery school or kindergarten up.

Inspiring them to pursue their own greatness? To find, what Sir Ken Robinson calls their Element. Where they can unleash their potential. Over the past three years I have been inspired by my students. They come from everywhere. All parts of Asia. The Middle East. Africa. The Netherlands and other parts of Europe. Central and Latin America. Even Australia. They come to study business but they are also imbued with a desire to create a better world. They are aware of the problems of the modern world – climate issues, poverty, and they want the businesses they work for, or create, to be good citizens.

So, are we providing them with the education that will prepare them for this future? Allow them to be great? I know that we are not. Too often this is the view of the classroom. And old textbooks are the focus of learning. We need schools that start to encourage new capabilities. Pupils to learn basic facts and theories but also we need to encourage an entrepreneurial spirit, nurture and develop their imagination and creativity and not snuff out these innate capabilities.

I was quite intrigued by this Infographic – produced by Funders and Founders. Everyone will become an entrepreneur.

I have asked several cohorts of graduate students – has your university career prepared you to be more entrepreneurial? To be creative, innovative? The overwhelming response has been NO or maybe just a little. As Prof Ken Robinson has pointed out the current education system, in many countries, stamps out creativity and instils uniformity.

An interlude – what do you see on this next slide? We need to encourage young people to develop a flair for learning to learn. This capability is going to be fundamental in the 21st Century. With knowledge changing rapidly, we are going to have to be continually re-learning. What do we need?

Of course we are going to need specialist skills, built on a foundation of facts and proven theories - so engineers of all types, scientists, and doctors. I am not arguing against the need for pure science and academic rigour in disciplines – what I am arguing is that we need a different approach to conveying that knowledge from the academic world to the community at large. We also need creativity, entrepreneurial spirits to foster new technological, business, and social solutions:

Encourage inter-disciplinary work - active interaction between researchers, lecturers, students, and business people

Develop stakeholder-engagement and cross-sectoral partnership building skills

Nurture creativity and entrepreneurship.

We see so many advances being made by differing specialists collaborating, for example,

New health solutions combining basic medical knowledge with nano-robotics, engineering, and IT

Engineers studying nature - zoology and botany to create new materials or new ways to harness energy from the sun.

Back to the food court Which topics are important to teach is hard to fathom. I was perusing Friedman’s book ‘Thank you for being late’ where he discusses Teller’s view of the rate of growth of new, technological knowledge and contrasts that with human adaptability.

How do we cope? How do we train students to cope where solutions offered at the start of their degree may be obsolete by their final year?

One of my colleagues is studying 21st century skills and has found a large discrepancy between what educators think their students need and what students believe are their priorities.

But why should we try to force students into a specific box at the start of their adult careers? Maybe numeracy Is not important – now – but perhaps will be in the future. So why not allow students to return to add to their knowledge – when they need it?

Thus, my view of the future business university is a kind of educational food court.

The university of the future should allow students to mix and match topics of their choice. Not just choosing from a range of pre-structured, fixed degrees - but choosing from a wide range of subjects. Including the creative arts. Why not a degree in which you study management, mathematics and music? Just as a food court serves food at all hours so students will be encouraged to return to the university at all times in their lives - to learn new stuff. The current stuff.

I see the university of the future offering short, specialised courses. And as new technologies and new capability requirements emerge in the 21st century, universities will develop new very-focused courses perhaps only a week in length.

Instead of degrees – business schools will offer shorter courses in specific skills and capabilities and award certificates attesting to achieved competencies. In the same way that boy cubs, scouts and girl cubs and guides collect proficiency badges.

Right now I'd like to sign up for a cryptocurrency proficiency course and badge. Financial Literacy might not be a priority right now – but when the IT student starts his new business – returning to his university to do a crash course in Finance for non-Finance managers might prove valuable. Then.

Businesses will send their managers armed with live problems to these courses - aiming to achieve solutions to their current business issues - collaborating with lecturers and full-time students.

Perhaps studying for a degree might become obsolete for business. It may well be that certain disciplines (such as medicine and law) will still need focused basic degrees – although rapid changes in medical technology will force constant retraining.

But universities are too silo-ed. As David Grayson of Cranfield University writing in the 'Financial Times' asserted: “Part of the problem is the emphasis for academic career progression on publication in three- and four-starred academic journals which can encourage incremental development of academic theory."

The Roadmap may need such incremental development in basic sciences and technologies - but it also requires breakthrough, creative solutions.

The Barrier In a recent blog on LinkedIn, Sahed Ladapo produced these graphs, showing technology, businesses and public policy.

If you then take one of the observations of Sir Ken Robinson, that our educational systems were designed in the 19th century, we can posit that they were fit for purpose in an era when the rate of change of knowledge was sedentary when compared to that of the 21st Century.

Now we can understand the frustration of forward-thinking educators – I’d like to include myself in that category - who recognize that their role is really to help students grapple with a fast-changing world and would thus like to focus on building fundamental capabilities, like learning how to learn - but have to operate in a rigid structure that discourages change.

Our educational systems need to become more fleet-footed. We need members of our education boards and administrators to return to school and study entrepreneurship and creativity - then return to their roles and transform the system.

Look at what is happening in China. Often we think of China as being just a cheap manufacturer of western products – with education in a world of Confucius inspired learning by rote - but their students of today are being prepared for a different world.

If we are going to inspire our new generation to become great leaders – whether in business, politics and society, the sciences, or the arts – we need to introduce some radical changes.

I challenge our educational bureaucrats – unleash the greatness in our current generation – start to become versatile, creative, and fleet of foot yourselves and if you can’t or won’t - get out of their way.

This blog is written on March 9th 2018 by Ron Ainsbury, associate applied research professor Business Responsibility & Sustainability, Research Centre Business Innovation, Rotterdam University of Applied Sciences.

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