Facts:

Luke is an employee of the ABC company. He has been asked to work on a project that involves building an adult entertainment retail store on an ABC Company development. Luke’s brother, Owen, lives next to the planned development. It has come to Luke’s attention that once the development is made public, property values in Owen’s neighborhood will drop significantly.

Issue:

Luke has a dilemma either should he disclose his development plan for Owen or keep his knowledge of this adult entertainment development confidential? This is an ethical issue, as there are two sets of positive values: loyalty to Luke’s company or loyalty to Luke’s brother. If Luke Keeps his knowledge confidential, his brother will suffer, whereas if Luke discloses the information to his brother, he will probably face consequences at work. Luke has to choose between either one; his ethical obligation to the company or economizing his brother from a future financial loss.

Ethical Theories:

Two approaches to business ethics,

1) Golden Rule and

2) Virtue Ethics are used for the analysis of the business ethics issue.

The Golden Rule:

According to the principle of The Golden Rule, one should treat others as one wants to be treated. in our case, Mr. Luke can disclose the forthcoming plans of Mr. Owens, so that he will be aware of a predicted loss. Consideration of others will lead to companies performing better. Regarding this rule, Owen should be treated with truthfulness, as Owen has a plan to sell his property. One would not take advantage of someone or lie to get ahead. One should treat people honestly and fairly in business because s/he wants to be treated in the same way. So, it would be truthful, considerate, and fair in how you treat others if Luke informs Owen about the upcoming situation.

Virtue Ethics:

Aristotelian Virtue ethics argue that we acquire virtue through practice. Virtue ethics deal with a person’s nature rather than with ethical duties and rules, or the consequences of particular actions. Virtue ethics in business focuses on the individual employee morality definition such as How do they behave and what are their values? Further, Aristotle suggests that there is not one single good as morality is relative. So, in our case, Aristotelian virtue ethics provided flexibility to Luke so that he could disclose the information to his brother. From the case, it is clear that Mr. Luke’s virtues and ethics would be in abiding by the rules and privacy policy of the ABC company.

What Should Luke Do About it:

As a member of the Ethics Department of ABC Company, it is my responsibility to advise Mr. Luke to take the best course of action. He shares ethical responsibility with the company and provides information to his brother. By following – The Golden Rule and Virtue Ethics, I will encourage Mr. Luke to educate his brother about the upcoming plans for the development of land recently purchased by ABC to build an adult entertainment retail store.

Disclosing any sort of confidential information regarding the company is unethical and Mr. Luke should keep his personal or social interests separate from the company’s interests but in this case, especially if we follow The Golden Rule and Virtue Ethics, Luke seems to have the flexibility to educate his brother. There would be no direct loss to ABC company if Luke disclosed the information, but Owen’s property value will decrease, so Golden Rule allows Luke to communicate about the issue. Also, the ABC company plans to build an adult entertainment retail store which is not considered a good ethical business, so virtues ethics theory, too, allows Luke to inform Owen.
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2022-08-22 09:58:04

Introduction.

Risk analysis, risk assessment, and risk procedures are deeply rooted in investing and financing decisions. You cannot avoid risk; instead, you can identify, quantify, assess and minimize risk while taking on any investment. Risk identification, risk quantification, and risk assessment is the first stage of any investment procedure.

Risk profiling:

Risk profiling refers to a process that enables an investment advisor or financial planner to choose an appropriate level of risk for the client. Risk profiling is a combined product of three factors.

• risk tolerance
• risk required
• risk capacity
  

  Risk profiling and suitability:

Different factors combine to affect risk profiling and suitability. Usually, a financial planner or manager gets the idea of “what worse could happen”? The following questions need to be answered.

⦁ Death:

What would happen in the case of the death of the bread earner? Funeral and other charges as well as cut on the income of the person.

⦁ Health issues:

Any health problems flowing through the generations in your family? Is there any risk of serious health injury among any of the family members? What would happen if health issues dent your earnings?

⦁ Employment loss:

To what extent are you dependent on your job? Is there any other source of income? What would be your earning source if you lost your job?

⦁ Marital/Family issues:

What would be the effect of your marriage breakup on your finances? How many dependents do you have? State-sponsored dependents as well as dependents on you.

⦁ Assets and properties:

How many assets and properties do you own? Are there any pledges or lines attached to them? How would you repay your loan attached to the property and what is the percentage of the loan?
Usually, investors are divided into six categories based on the risk-taking approach and growth and returns. Which are;
⦁ Conservative
⦁ Mediocre
⦁ Balanced
⦁ Growth
⦁ Aggressive
⦁ Very aggressive

Income and expenditure analysis:

While planning your personal financial goals and financial needs. One question is most important.

“How much is enough”?

Some people get engaged in financial planning and analysis very later in their age when there is less time in retirement, which results in higher contributions and more percentage of their income.

Currently, the client has the following incomes and expenses in progress as attached to annexure A.

Currently, the Client is earning almost 27,000 per year as salary excluding a bonus. The annual increase in salary is expected to be increased by 2.5% per year, equally matching inflation, along with a 12% increase after two years. All this shows that the client has enough money to spend and he can afford to take risks So I will assess and classify him with an aggressive approach. Mr. Kayle f has ample time left, i.e. almost 28 years, plus he is expecting a pay raise of 12% after graduation.
The only major expense in the upcoming years is his Master’s degree in HRM, which too will recover with a 12% pay raise in the coming years. He had to keep a plan for some out-of-pocket expenses and scenario planning in case of job loss and spare the remaining funds for investment.

Own assets in different classes and forms but not any investing account or share. Assets include;
Current account – HSBC £101,000
Saving account – HSBC £1,200
Premium Bonds £40,000 (initial) + £300 (6 months’ gains reinvested)
Life assurance See below
ISA’s None
Unit Trusts None
Car £40,000

Cash flow and scenario analysis:

Cash flow and scenario analysis refers to dealing in different domains and funds to meet different classes of liabilities, including;
⦁ Emergency fund & protection
⦁ Pensions(occupational pension & state pension)
⦁ Buying a house
⦁ Early retirement at the age of 60

Emergency fund & protection:

An emergency fund is a fund set out of your income and family income to meet life’s unexpected events. This fund will help you in bearing your expenses in the case of any unseen and sudden expenses, such as any major injury or any major repairs, or any other expense. The value and amount of this fund depend upon several factors such as your income, size of your house, your lifestyle, your total personal budget, and your current financial standing.

Several financial and management gurus suggest different levels of emergency funds; some suggest that you should have 8 months of income as an emergency fund. some suggest you should have 3 months of your income as an emergency fund; it depends upon your age bracket and your lifestyle.

As in the case of Mr. Jasmine, he has a yearly income of around £65,000, while a net income of around £32,850. As Mr. Kayle F, is currently single and has no immediate liability except which is also going to be settled in 15 months, further he has no plan of getting married any sooner I would suggest he separate income equal to 6 months as an emergency fund; this will help him to meet his household expenses as well as any major or unexpected outcomes.
The next question is in what form funds should be kept for an emergency fund. Several options are available, but preference should be given to the most liquidated sources, i.e. either a savings account or either in cash or money market funds or any precious metal.

Pensions:

After setting up your emergency funds. The next step is to plan for your post-retirement earnings and how you would live after retiring from the profession and job. pensions funds and calculation of pension calculation are very difficult to calculate due to various factors such as inflation, the last salary of your career, your age of retirement, or early retirement. Several options are available for establishing a pension after your retirement including estate pension, occupation pension, and voluntary pension. Occupation pension is further divided into defined contribution plan and defined benefit plan.

Pension funding varies based on your lifestyle, your way of living, your expected income, and your choices. Four steps of pension planning are:

⦁ Identify the type of pension plan needed
⦁ Estimate funds required at the time of retirement
⦁ Interest prevailing and forecasted
⦁ Identify monthly contributions

After setting up an emergency fund & protection, Mr. Kayle F needs to find a way of getting pensions after retiring from the profession. We will recommend him pensions plans based on interest rates, contribution percentage, and current salary.

Mr. Kayle F should find an investment in a plan which gives more interest than average inflation and had a rate, of return equal to or greater than the mortgage rate which is 6.5%. Employer will contribute 3# of gross salary towards pension fund so I would suggest Kayle F to invest in a defined benefit plan instead of defined contribution so he would give fix periodical payment to match your post-retirement expenses and you would never be on the edge of bankrupt.

Buying a house:

Buying and financing your home is one of the most significant and biggest financial decisions you could ever make So you should take all the reasonable steps to ensure that you get the cheapest financing facility as well as your favorite house. Before deciding on a housing loan, you should save enough to pay the down payment of your home loan and you should get yourself free from other loans, i.e. credit card and mortgage to secure enough funds to pay the housing loan.

Financing agencies consider various factors before approving your home loan I.e. your credit score, your other liabilities, your approved exposure, age of your job and stability, and ability to repay.

Currently, a good apartment has a financing range of between 20-30 years and it costs around 50-60 lac GBP. Generally, your agencies allow 35-40% of your income as home rentals to get your apartment in your name. Mr. Kayle F should repay all the credit card loans, wait for another 15 months to repay the mortgage on care as well as consider economic conditions which expect interest rates to fall and then apply for home financing on which interest rate should not exceed the current interest on t-bills as it is a long-term investment, average loan and interest expense combine should not be more than 30% of your net income including bonuses and tax deductions and advance payment should not be more than 5% of the value of your home. Kayle F also needs to keep a check on inflation in housing prices, which is more than the general inflation of 2.5%.

Early retirement at the age of 60:

When people do want to retire at an early age, they should develop an ambition and vision to retire early at the very early stages of their life and career. Should follow an investment strategy named FIRE: Financial independence retire early. This strategy needs heavy funding at later stages of your career as well; you need to be financially stable to think and decide about early retirement. Another factor of early retirement is you will not be medically insured and you won’t be covered under medical insurance till the age of 65 in case of any emergency or medical illness. You have to find a way to cover the gap. Another factor that needs to be answered is to pay all of your loans and settle your liabilities five years earlier than regular, as well as you have to do all the expected tasks before retirement, such as major repairs, replacing your car, and completing renovations and other work.

Mr. Kayle F should also choose a plan from social security which is most suitable for early retirement as early receiving of benefits can reduce their benefit up to 30% So he should choose from the list which starts an early return. He should also create and plan for a 10-year buffer zone between his retirement age, i.e., 60 and 70 years; to avoid a mishap, he should invest in a high return, a high-risk plan which gives him at least a 15-20% return for the next 28 years.

Conclusion and recommendation:

The client has enough funds in the current account to finance the initial investment, plus he should transfer his funds from the current account to the investment account to

As Mr. Kayle F wants more travel in the upcoming years along with his graduate degree, as well as financing for his home and paying off the credit cards, and running finance I would suggest the following plans and steps for him;
⦁ Create an emergency fund from his salary account for 6-8 months as he is going to get admission to university so he needs additional funds to meet his expenses.
⦁ Transfer his funds in his current account to any saving account or in the form of any other liquid asset which also gives returns
⦁ Visit different pension planners and schemes.s and intuitions to decide about an adequate pension strategy and scheme
⦁ Visit different banks and talk about your credit rating and score as well as interest rates and choose wisely a 20 years mortgage plan having interest not more than 4.5%i.e. less than 10 years of the loan.
⦁ Choose a pension institution that gives benefits before the age of 65. Get an insurance plan to cover the gap of 5 years between health insurance schemes and your retirement age.
⦁ Financial planning should give recommendations about any associated companies and pension schemes with good returns.
⦁ I had suggested a more aggressive strategy for investing and financing their future goals and in ads as 15%-20% risk in opposition to 85% growth for their 60% of the investment.
⦁ For the remaining 40%, he should invest one hyper-aggressive scheme which gives a 25-30% return.
At last financial planners and institutions don’t enforce or ask to enforce their recommendations, and the decision rests with the client to either accept the proposal or reject the proposal.

References

⦁ CFA, A., 2020. Investment Risk Profiling: A Guide for Financial Advisors [WWW Document]. CFA Institute. URL https://www.cfainstitute.org/en/research/industry-research/investment-risk-profiling (accessed 12.9.21).

⦁ financial planning [WWW Document], n.d. . Jama Punji. URL https://jamapunji.pk/financial-planning/retirement-planning (accessed 12.9.21).

⦁ Fowler, J., 2021. Why an Emergency Fund Is More Important Than Ever [WWW Document]. Investopedia. URL https://www.investopedia.com/financial-edge/0812/why-an-emergency-fund-is-important.aspx (accessed 12.9.21).

⦁ How to Assess a Financial Client’s Risk Profile – dummies [WWW Document], n.d. . dummies. URL https://www.dummies.com/careers/how-to-assess-a-financial-clients-risk-profile/ (accessed 12.9.21).

⦁ Kagan, J., 2021. Retirement Planning [WWW Document]. Investopedia. URL https://www.investopedia.com/terms/r/retirement-planning.asp (accessed 12.9.21).

⦁ Kurt, D., 2021. Emergency Funds [WWW Document]. Investopedia. URL https://www.investopedia.com/terms/e/emergency_fund.asp (accessed 12.9.21).

⦁ Maverick, J.B., 2021. The Importance of a Client’s Risk Assessment [WWW Document]. Investopedia. URL https://www.investopedia.com/articles/investing-strategy/082916/importance-clients-risk-assessment.asp (accessed 12.9.21).

⦁ Napoletano, E., 2020. How To Retire Early: A Guide To Early Retirement [WWW Document]. Forbes. URL https://www.forbes.com/advisor/retirement/guide-to-early-retirement/ (accessed 12.9.21).

⦁ Scenario Analysis [WWW Document], n.d. . Corporate Finance Institute. URL https://corporatefinanceinstitute.com/resources/knowledge/modeling/scenario-analysis/ (accessed 12.9.21).

⦁ The importance of matching income to expenditure [WWW Document], 2015. . University of Cambridge. URL https://www.finance.admin.cam.ac.uk/policy-and-procedures/financial-procedures/chapter-2-budgetary-planning-control/monitoring-and-6-1 (accessed 12.9.21).

⦁ The importance of planning: How cash flow analysis can help – Holden & Partners [WWW Document], 2019. . Holden & Partners. URL https://www.holden-partners.co.uk/the-importance-of-planning-ahead-how-cash-flow-analysis-can-help/ (accessed 12.9.21).

⦁ Williams, T., 2021a. 6 Prerequisites for Buying a House [WWW Document]. Investopedia. URL https://www.investopedia.com/articles/personal-finance/091415/5-financial-prerequisites-buying-house.asp (accessed 12.9.21).

⦁ Your Risk Profile [WWW Document], n.d. . Canaccord Genuity Wealth Management Australia Logo. URL https://www.canaccordgenuity.com/wealth-management-australia/investment-management/your-risk-profile/ (accessed 12.9.21).

Annexure-A

• Per month (£) Per year (£)
• Earned income (gross) £65,000
• Dividend income (net)* £450*
• Premium bond income (net)** £50** 600
• *Estimate
• **Average
• Interest Received £150 1,800
• Total 67,850

Outgoings

• Total 32,150
• Net income before interest 32,850
• Fewer loans 5,636
• Net income 27,214

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2022-08-21 09:26:42

Introduction:

Many ways can be used for Excel data analysis, such as descriptive statistics and regression analysis.  As well, we use correlation matrix and graphs for comparison as regression lines; Bar charts, trend lines, etc.  The details of each aspect are given in the following section. This analysis shows that data on the section is more volatile than the course. While both variables satisfy the property of the classical linear regression model and are normally distributed with constant mean and constant variance. The result of the regression analysis shows that both variables are not related because of their highly insignificant. So, to find the appropriate relationship, we will have to add some relevant variables to the model as multiple linear regression models can remove the specification bias.

Co-Variance Analysis:

Different analyses can be run on the project of given data, which describe the demand for tutoring at the MCOB tutoring center during 2019. However, Co-variance analysis appears the most acceptable. Co-variance is about data variability. It tells us how much two random variables fluctuate together. Co-variance has resembled the variance and the variance describes how the single variable varies. Our results given in the table tell us that the covariance between both variables is almost 443444.4. Covariance and variance move together. It means the values of both variables are highly correlated with each other.

Table # 1: Co-Variance between course and section

•   Course Section
• Course 1088490
• Section 443444.4 1219263

Descriptive Statistics:

Descriptive statistics analysis is the main analysis that is required for the analysis before any regression. Descriptive statistics are considered the key part of any analysis. Descriptive statistics analysis of course and sections is following.

Table # 2: Descriptive Statistics of the course and section

1. Descriptive Statistics Course Section
2. Mean 3652.484 22057.59
3. Standard Error 38.45429 40.66836
4. Median 3304 22114
5. Mode 3302 22114
6. Standard Deviation 1044.655 1104.803
7. Sample Variance 1091304 1220590
8. Kurtosis 1.168211 -0.58067
9. Skewness 1.264636 0.674953Range 5075 4275
10. Minimum 1301 20586
11. Maximum 6376 24861
12. Sum 2695533 16278505
    Count 738 738

As in the above-given results, the mean of the course is 3652, and the mean of the section is 22057, which is higher than the mean of the section.  Moreover, the cross-comparison of both variables across time subjects and dates is given below. The standard deviation shows the dispersion of the data. It is higher in the section than in the course.

However, the standard error of the course is 38.45, while the standard error of the section is 20057.59, and the standard deviation of the course is almost like the standard deviation of the section. The maximum number of the course is around 2695533 and the maximum number of the class is 24861. From the comparison, we can see that the section on descriptive analysis is richer in numbers than the courses.

Regression analysis.

Regression analysis is mostly used to check the impact of the independent variables on the independent variable or the outcome variable.

The value of the R square is not high, and the value of the adjusted R square is also not high in the case of having one independent variable. We will check for its fluctuations with time. On the other side, its R square is also not high, so it is not a good kind of regression that proves that variables are not highly related to each other. When the R square is too low, it indicates that we have variables that we have added to the model but are irrelevant to the dependent variable. hence, in this scenario, the adjusted r square will also be lower than the explanatory model. It will decrease due to two reasons one for the decrease in the degree of freedom and the other reason due to the addition of the irrelevant variable.

Conclusion:

Based on the above analysis, it is concluded that data on the section is more volatile than on the course. Regression results show that both the coefficient and the intercept are insignificant. There is no relationship between both variables, so, it’s a spurious regression. As the ordinary least square estimate is not statistically significant, it can be concluded that it has no significant impact on the regressor on any level of significance. Moreover, when the model is not giving good estimates, it shows that there is some specification bias. it may be due to the missing variables, wrong functional form, etc. Also, graphs represent that data is stationary and that both mean and variance are constant over time. It is one of the main properties of the classical linear regression model that data is normally distributed.
Usually, the investigator seeks to verify the causal impact of one variable upon any other. So, to remove the problem, which is present in our model, we should include the independent variables that are related to the dependent variable and uncorrelated with the error term.

 
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2022-08-20 09:11:44

Introduction.

This case study is aimed to help Managers understand leadership roles and functions in the future. It helps us to understand the function of organizations and their interrelation with people. It happens when Girish Sharma, a State Administrative Officer in Clarion, calls from his mentor to take on the challenge of a new posting. It requires him to leave the mantle of the administrative officer and work in the managerial capacity for the benefit of the rural poor. This case study calculates the entire journey, with the finest of details, in which both the chief and the organization undergo transition and transformation.

Case.

(August 2004) It was a different practice for Girish as it was a committee; this was altogether different as it was a unique form of project and deputation posting being funded by the World Bank. The journey started when he reached Narsinghpur for the office, and there was no protocol, not even a single vehicle, to reach his destination. The office was on rent, and he had never faced such an experience before. On the first day, he met with Chauvin, a district finance manager who informed me that he was on deputation posting and belonged to accounts services, and met with Dip Anker Chakravarty, who told him that his designation was a district task manager. It was how miserable the condition was that there was no person in the office. DFM told him that the Narsinghpur project never had a full-time DPM since the start of the project in the district in 2001-02. On the first day, the experience left him in a state of shock and disappointment.

Results.

After a long assessment, he decided to accept the challenge and had a long pondered with DPM and DFM. He came up with a solution. He fixed an urgent meeting with PFT, and they will scrutinize the projects. They will examine the plans. This not only resulted in clearing a huge backlog, but cross-learning across PFT was also a great outcome. When he paid to visit with the World Bank team at the time of his transfer, all crew were so impressed that they recommended a project extension for another 5 years for the entire state.

 
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2022-08-18 08:41:15

Executive Summary

The US inflation rate rose to 6.8% over 2021 where used car prices proved a major driver of inflation. The average used car sold for more than $27,000 in November 2021, a 27% increase in just one year. A worldwide shortage of semiconductors took place because of COVID-19, a hurdle in manufacturing new cars. More demand and low supply of cars caused inflation and used car prices have risen 45% over 12 months. However, this surge price of used cars is supposed to drop as new car inventory will improve and the chip issues would alleviate in the months ahead.

Introduction.

The annual inflation rate for the United States hit 6.2% for the 12 months of 2021, considered the highest in more than the last three decades, as measured by CPI. There are a bunch of factors involved in inflation, but used-car prices have proved a major driver of U.S. inflation in 2021. Used car prices soared by 32% in the year 2021; conversely, the price of used cars fluctuated by an average of 0.6% from 2009 to 2019 (Simes, 2022). This insane cost of a used car has risen because of high demand and low supply. The pandemic of COVID-19 disorders supply chain as a shortage in the essential auto components of vehicles such as semiconductors and chips. Shortages in semiconductors prove an obstacle in manufacturing new cars; therefore, buyers had no choice, but they had to buy used cars, which became the reason for inflation (The used-car market sent American inflation soaring, 2022).

Discussion.

The used-car market sent U. S inflation soaring in 2021.

According to the Bureau of Labor Statistics (BLS), annual consumer-price inflation in the U. S had reached a much higher level than expected. The US inflation rate rose to 6.8% over 2021, which is the highest point since 1982. There are involved others factors, but surging prices for used cars have been a major driver of inflation in 2021. In November, the average used car sold for more than $27,000; statistically, this is a 27% increase in just one year and 41% higher than the pre-pandemic average of two years ago (What to expect in the 2022 used car market, 2022).

Graph 1: Used Car Prices are Up nearly 40% During the Pandemic.

Source: U. S BUREAU OF LABOR STATICS.

The major reason for the surge in used car prices is because of the pandemic, as the US saw auto production drop 99% during the period of covid-19. The automobile industry has become dependent on microchips, from engine management to driver assistance. The automobile industry could only build fewer cars than planned because of the worldwide microchip shortage. This short supply and more demand pushed new car prices up and many shoppers entered the used car market. Respectively, inflation took place, and the prices of used cars surged, too.

Used Car Price Bubble Predicted to Pop Soon.

Used car prices could decline by 30 percent shortly as the need for the global chip shortage is fulfilled, say in a report published by multinational financial firm KPMG. The KPMG report indicates that microchips will eventually be available enough and will facilitate automotive manufacturing to meet supply and demand. If this happens the used car market will collapse. Further, KPMG reported arguing that Americans who bought used cars during the surge in prices could find themselves driving an asset worth less than they paid for it in the time of inflation So, in case of the bubble bursts, trade-in values would crash (What to expect in the 2022 used car market, 2022).

Conclusion.

To sum up, the future of used cars as assets depends on inflation. If the high inflation period stretched and continued, this would create a new floor for used cars as assets. Otherwise, in the case interest rates were raised to lower inflation, demand would decrease, causing used car values to plunge. On the other side, The KPMG report also argues that chip supply issues would as it is until mid-2022, in the same regard, the full supplies of semiconductors will not be available until 2023, which give us a sign that perhaps the price of used vehicle will remain on a surge for at least another next 12 months (What to expect in the 2022 used car market, 2022). However, most reports and experts argue that the current frenzy in the used-car market will come to an end very soon as the microchip shortage and other supply chain problems ease.
REFERENCE.
Fortune. 2022. What to expect in the 2022 used car market. [online] Available at: <https://fortune.com/2021/11/01/used-car-prices-high-carmax-2021/> [Accessed 3 January 2022].
Gharehgozli, O., 2021. Current State of US Economy Post-Pandemic and the Future of Core Inflation. SSRN Electronic Journal,
Symes, S., 2022. Used Car Price Bubble Predicted To Pop Soon. [online] Notorious. Available at: <https://www.motorious.com/articles/news/used-car-price-bubble/> [Accessed 3 January 2022].
The Economist. 2022. The used-car market sent American inflation soaring in June. [online] Available at: <https://www.economist.com/graphic-detail/2021/07/14/the-used-car-market-sent-american-inflation-soaring-in-june> [Accessed 3 January 2022].
Advisory.kpmg.us. 2022. Used car prices could crash – will they? [online] Available at: <https://advisory.kpmg.us/articles/2021/used-car-prices-could-crash.html> [Accessed 3 January 2022].
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2022-08-16 08:26:16

Academic Skills and Communication

My declared business major is in Management Information systems. Pursuing a career in MIS demands work with technology and systems as well as interpersonal and communication skills which help to recruit information from various functional areas in the organization. Comparatively, I am confident in critical thinking, problem-solving, and the ability to deal with complexity.

However, my goals are to improve working under short deadlines as well as acquire strong technical skills for the management of information. Based on the student readiness self-assessment survey, I am self-directed and good at planning as I am doing well in online courses. I set small, incremental goals, and I understand, how to value periodic breaks and rewards.

In the same regard, communication is the key to maintaining strong working credibility at all levels of an organization. According to Melancon, effective communication builds trust between employees, which can ultimately lead to increased credibility and a boost in morale (Meloncon, 2018).

I have planned to polish three major skills: working under short deadlines; working under pressure, and time management skills. Working under pressure is needed for effective problem solving as it is one of the main requirements of numerous MIS executives’ roles. A candidate should be an expert in these skills as a lack of these skills will impact career options.

On the other side, it promotes a unified approach which makes it easier to solve the problem. Learning the ability to work well under pressure is obligatory as everyone has to deal with pressure in their professional lives. I plan to develop these skills by having believed that hard skills refer to proficiency in any complex task as well as keeping in mind that good skills set leads to permanent success. Moreover, by making it a fun Challenge and contrary action with purposeful Slacking.

To summarize, pursuing a career in Management Information Systems requires interpersonal and communication skills which help to recruit information from various functional areas in the organization. I value the Online Learning Readiness Self-Assessment as I am self-directed and strategic. However, sometimes procrastinations lead to waiting until the due date of the assignment. Afterward, for each course, the action plan is to consider the syllabus as an official record and mark the syllabus as important data to avoid any procrastination.

Reference
Meloncon, L. (2018). Orienting Access in Our Business and Professional Communication Classrooms. Business And Professional Communication Quarterly, 81(1), 34-51. DOI: 10.1177/2329490617739885
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2022-08-16 08:20:35

Using Listening Styles to Address Difficult Conversations Within Teams.

Everyone in their lifetime will endure a difficult conversation. The conversations are difficult because people’s anxieties are escalated by hidden and irrational assumptions. A difficult conversation triggers emotions, biases, and irrational thinking and rational reasoning are way down. Addressing complex issues timely among teams creates an understanding that each individual is essential to the team. The unique qualities and skills of each person working together form the team’s dynamic to work and realize optimal results.

The purpose of this report is to instruct the reader on how to use listening styles to emotionally connect with a person when having a difficult conversation. The best way to handle difficult conversations is to listen to the seen and unseen part of the conversation, recognize the irrational emotions, address the person’s needs, and understand the cause.

• Words Are Just a Part of the Conversation
• Emotionally Connect with the Team
• Embrace the Critical Conversation

Introduction.

Every professional encounter a conversation where he has strong differences of opinion. People start almost every conversation with expectations. When those expectations are challenged, they often react with emotions. “We’ve all had bad experiences with these kinds of conversations in the past,” says Holly Weeks, the author of Failure to Communicate. Sometimes the boss lashed out or the client hung up the phone, in response. Tending to avoid them is not the right solution,” says Jean-Francois Manzoni. The purpose is to learn how to respond in a way that has better outcomes.

Using listening styles is the most important way that you can win a difficult conversion. Listening styles can change the questions that have been asked in the entire conversation. This report focuses on the outcomes of a few listening styles that address difficult conversations within the team. Listening for information, evaluation, detail, empathy, and insight. In an informational process, we collect facts and specific details. In the evaluation, one can make opinions and judgments. After these two steps, we have to listen for solutions and empathy. Finally, Insight reveals hidden significance.

Readers will learn how to use the different listening styles to address difficult conversations within the team. Focus on these three techniques to handle difficult conversations: understanding the person’s needs and cause, recognizing the emotional behavior, and seeing the unseen part of the conversation.

Words Are Just a Part of the Conversation.

A successful conversation requires more than just words. It needs listening styles. There are four listening styles, but this paper focuses on two types: deep and critical listening styles. During a conversation, people may apply a deep listening style to connect with their partners. The deep listening style allows listeners to concentrate and gather the speaker’s point of view. Therefore, successful teams need to utilize a deep listening style. If a team member adapts a deep listening style, they may better understand their team’s working styles. Once everyone in the group understands each other, it is a minor complication in the team. A team leader may know when each team member performs best. Team failure is due to many reasons. For example, avoiding communication, lacking social interaction, and lacking deep listening skills. These are factors that cause teamwork to collapse.

Emotionally Connect with the Team.

An emotional connection is a bundle of subjective feelings that come together to create a bond between teammates. In the article, Tough Talks she mentioned, “Emotions can be very powerful and overwhelming”. You will want to identify team members’ strengths and weaknesses and work together. Encourage team members to feel comfortable with all having a voice and be polite and respectful to all. “It shows you understand and care about what matters deeply to the individual”. Stress is something that can overpower anyone, having a good schedule and working with people’s schedules is important. Connection is the most crucial component in building a productive and efficient workplace. Connect teams drive good collaboration, and healthy working relationships, and promote knowledge sharing.

Embrace the Critical Conversation.

People should realize that everyone is talented and unique in their own way. Therefore, people in teams should accept others’ differences. Diverse ideas are essential for completing projects on time. However, some people judge their teammates based on skills, education, and experiences. These mentalities lead them to avoid communicating with their teammates because they believe they are more capable than the rest of the team members. Team leaders can prevent complications by speaking with each team member and understanding their personalities and uniqueness. A good team requires social interaction and engagement. Each team member should try to understand, respect, and create an emotional connection with one another.

Moreover, they can share their hobbies and do outdoor activities on the weekend. This interaction will allow them to get to know each other better. On top of that, people on the team can upgrade their relationship level by personally expressing their concerns and caring. The engagement between each person in the group allows teammates to stay more connected and gain more work productivity.

Conclusion and Recommendations.

To summarize, everyone faces difficult conversations when their presumptions are questioned which leads to emotions and irrational thinking. Giving up or avoiding the problem is not the right solution, so the purpose is to learn how to respond in a better way. This report discusses a few listening styles that address difficult conversations within the team.

Only words are not enough to succeed in a difficult conversation. There is a need to learn the use of listening styles to emotionally connect with a person when having a difficult conversation. First, this paper focuses on two types of listening styles: deep and critical listening styles. With the deep listening style, listeners concentrate and gather the speaker’s point of view. In the second place, emotionally connecting with the team is essential as an emotional connection is a bundle of subjective feelings that come together to create a bond between teammates. Lastly, the solution lies in embracing the critical conversation as people should realize that everyone is right in right in their perspective.

References
Barbara, K. (2019). Tough Talks How to Find Success with Difficult Conversations and Move Forward Productively.
Dale, S., & Sheets, K. (2019). Embrace the Individual for the Ultimate Client Experience.
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2022-08-14 08:02:27

Report on Minutes of the Federal Open Market Committee January 26–27, 2021.

Explain their decision about interest rates, and why they came to this decision; the impact their decision might have on the bond market, the stock market, and the economy in general.
A joint meeting of the Federal Open Market Committee and the Board of Governors was held by videoconference on Tuesday, January 26, 2021, at 1:00 p.m. and continued on Wednesday, January 27, 2021, at 9:00 a.m.

Introduction.

The Federal Open Market Committee (FOMC) works within the Federal Reserve System. This Federal Reserve committee can make key decisions about interest rates for the United States money supply. FOMC is charged under United States law; further, it oversees the nation’s open market operations, such as the Fed’s buying and selling of the United States. Times ago, each of the Federal Reserve banks was authorized to buy and sell on the open market bonds. So, the reserve banks were at times bidding against each other in the open market. To execute the purchases and sales, an informal committee was established in 1922. The Banking Act of 1933 formed an official FOMC. Now the Federal Open Market Committee is the principal organ of monetary policy. It is a fact that the changes in the federal funds rate trigger a chain of events. Add to this, these events affect other short-term interest rates, long-term interest rates, and foreign exchange rates. It also affects the amount of money and a range of economic variables, such as employment, output, and prices of goods and services. (“The Fed – Federal Open Market Committee”)

Discussion.

Finding: Decision of FOMC about Interest Rate.

The Federal Reserve announced that it’s keeping interest rates steady following its Jan. 26-27 meeting, leaving the federal funds rate at a range of 0 to 0.25 percent. This follows the Fed’s decision to hold rates near zero until the economy has weathered the effects of the coronavirus.

Many experts widely expected this decision to leave rates alone. It seems a consequence of the U.S. joblessness on the coronavirus crisis over the past year. According to Fed chair Jerome “highly accommodative monetary policy will continue at extraordinary levels for the foreseeable future”.

Expected consequences.

One of the most important responsibilities of the Fed is setting the federal funds target rate, which is the interest rate banks charge each other for overnight loans. The federal funds’ target rate serves as a benchmark for many short-term interest rates, such as rates used for savings accounts, money market accounts, and short-term bonds. The target rate also serves as a basis for the prime rate. Through the FOMC, the Fed uses federal funds’ target rates as a means to influence economic growth.

To stimulate the economy, the Fed lowers the target rate. If interest rates are low, the presumption is that consumers can borrow more and, consequently, spend more. For instance, lower interest rates on car loans, home mortgages, and credit cards make them more accessible to consumers. Lower interest rates often weaken the value of the dollar compared to other currencies. A weaker dollar means some foreign goods are costlier, so consumers will tend to buy American-made goods. Increased demand for goods and services often increases employment and wages. This is essentially the course the FOMC took following the 2008 financial crisis in an attempt to spur the economy. (“Who Determines Interest Rates?”)

On the other hand, if consumer prices are rising too quickly (inflation), the Fed raises the target rate, making money more costly to borrow. Since loans are harder to get and more expensive, consumers and businesses are less likely to borrow, which slows economic growth and reels inflation.

People often look to the Fed for clues on which way interest rates are headed and for the Fed’s economic analysis and forecasting. Members of the Federal Reserve regularly conduct economic research, give speeches, and testify about inflation and unemployment, which can provide insight into where the economy might be headed. All of this information can be useful for consumers when making borrowing and investing decisions. (“How Does The Federal Reserve Affect The Economy? – Barnum Financial Group”)

Debate by the members in the Minutes of the Federal Open Market Committee January 26–27, 2021
The manager turned first to a discussion of financial market developments. Progress on vaccinations had been slower than expected, and the near-term trajectory of the pandemic worsened, weighing on economic activity. However, even with the appearance of new strains of the virus, market confidence in the ultimate efficacy of the vaccination efforts seemed to remain high. In the Open Market Desk Survey of Primary Dealers, the median 2021 gross domestic product (GDP) growth forecast rose about 1 percentage point.

Expectations for the path of the target federal funds rate over the next several years, as implied by interest rate futures and by the Desk Survey of Primary Dealers and Survey of Market Participants, were relatively little changed from December. The stability in near-term policy rate expectations amid an improving growth outlook appeared consistent with the Committee’s new framework and forward interest rate guidance. Although the median Desk survey respondent continued to expect 12-month personal consumption expenditure (PCE) inflation of 2.3 percent when the FOMC first lifts the target range, the median expectation for the unemployment rate prevailing at that time was modestly lower than in December. (“The Fed – Federal Open Market Committee”)

The next move may be, in my opinion:

1. In my opinion, interest rates are expected to continue their upward march. However, for now, they’re not expected to get high enough to harpoon the stock market.
2. As we have seen that Treasury yields have been raised quickly and the benchmark 10-year yield has been on a tear – reaching 1.33% before retreating below 1.30% in a few days.
3. Statics shows that the Yields move opposite price and the 10-year has risen from about 1.15% to levels that are close to where they were when the pandemic started hitting the economy in the last year.
4. The 10-year is key to the economy since it impacts mortgages and other consumer and business loans.

Report by x.y.z 3 March 2021.

REFERENCE PAGE:
Financial Markets and Institutions, 13 th Ed., by Jeff Madura.
“The Fed – Federal Open Market Committee”. Board Of Governors Of The Federal Reserve System, 2021, https://www.federalreserve.gov/monetarypolicy/fomc.htm.
“Who Determines Interest Rates?”. Investopedia, 2021, https://www.investopedia.com/ask/answers/who-determines-interest-rates/.
“How Does The Federal Reserve Affect The Economy? – Barnum Financial Group”. Barnum Financial Group, 2021, https://barnumfinancialgroup.com/how-does-the-federal-reserve-affect-the-economy/.
Lanman, Scott; Runningen, Roger (December 27, 2011). “Obama to Choose Powell, Stein for Fed Board”. Bloomberg LP. Retrieved December 27, 2011
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2022-08-14 07:38:12

Abstract:

The effects of cannabis use in university students as a coping mechanism for anxiety and stress have been extensively documented and supported in many studies. Respectively, the articles in this literature review highlight the effects of the use of cannabis in university students as well as students’ positive perceptions of cannabis use. Most of the studies talk about; Students’ motivation behind using cannabis and the role of stress as a motivation for cannabis misuse. Sequentially, the connection between stress and the use of cannabis. This paper gives balanced coverage of the existing literature on the chosen topic. The strengths and limitations, as well as considerations for future research, have also been considered. The scope of the literature has been indicated for use in this literature review. Also, meets the criteria of reliable literature as including the most recent and relevant studies; most of them are quantitative and a few are qualitative studies.

Introduction:

Cannabis use is continuously rising in university students as a coping mechanism for anxiety and stress. The use of marijuana has reached its highest position in the last few years. Marijuana use has been continuously rising among university students over the past five years and will remain at historically high levels among university students in 2020. According to Whiteley et al., (2021) “among college students, 44% reported using marijuana in the past year in 2020, compared to 38% in 2015, representing a significant increase. For young adults not in college, annual marijuana uses in 2020 remained at 43% the same historically high level as recorded in 2018 and 2019″ I have chosen this topic for a comprehensive literature review because the finding of this research area is very interesting and essential to know.

Some studies prove that the use of cannabis leaves an ailing effect on students’ health. Extensive scientific research has documented serious harm to the brain development of teenage students who regularly use cannabis as drugs as a coping mechanism for anxiety and stress. The excessive use of cannabis leads to mind-altering compounds that affect both students’ brains and bodies (Benz et al., 2021). As well, Heavy marijuana uses in students showed problems in scholastic performance, memory, and focus. Studies prove that students who were addicted to cannabis drugs got lower grades compared to students who did not use marijuana (Buckner et al., 2013). On the other side, a bunch of studies also, show that the balanced use of cannabis is beneficial in various considerations.

This paper has balanced coverage of what is available as literature. I have indicated the scope of the literature before using it in this paper. Also, it fulfills the criteria of analyzing and comparing literature as I have included the most recent and relevant studies; most of them are quantitative and few are qualitative studies.

Background

The use of cannabis has historical significance. Cannabis was first used medicinally around 400 ad. Later, in the U.S., during the 19th and early 20th centuries, cannabis was widely utilized as a patent medicine (Schepis et al., 2021). As well, the plants of cannabis have been used as drugs for recreational purposes as well as in various traditional medicines for centuries from native to southern and central Asia.

Today, cannabis is the most commonly used illicit drug. In the same regard, the use of cannabis among college students is widespread. According to a survey, the use of cannabis is rising among college students over the past 4  years (Hershkowith et al., 2021). The research represents a record of the highest use of cannabis since the 1990s, especially the significant increase in the annual use of hallucinogens, and a substantial increase in university students as a coping mechanism for anxiety and stress (Lanaway et al., 2019). Most users report experiencing problems related to cannabis use, including poor academic performance, procrastination, low productivity, memory loss, and missing days of work or class (Kilwein et al., 2020)

. This Literature Review aims to evaluate university students’ perceptions of cannabis use as well as the effects of cannabis use on students’ health. Apart from the above. This literature review focuses on the following research query:

1. Problems associated with using cannabis to cope with stress.
2. The use of cannabis is an unhealthy coping mechanism for anxiety and stress.
3. Role of stress as a motivation for cannabis misuse.
4. Students’ Motivations behind using Cannabis.
5. Students’ positive perceptions of cannabis use.

Literature review.

Many studies have already been taken on the effect of the use of cannabis on university students. Most of the studies emphasize that there is a link between students’ health and the effect of the use of cannabis. Most of the following studies show health problems because of cannabis use; however, students’ positive perceptions of cannabis use have also been discussed.

The use of cannabis is an unhealthy coping mechanism for anxiety and stress.

Böke & Heath (2019) found that stress is a common experience for university students. The stress of the study leads them towards the use of drugs as coping that ironically pushes them more towards the stress. In the experiment of this study, undergraduate students (N = 5,917) were examined so that it relationship can figure out between perceived stress and engagement in substance use. The results of this study indicate that higher stress is associated with students’ use of drugs, which is an unhealthy coping mechanism for anxiety and stress.

Role of stress as a motivation for cannabis misuse.

Another study by Hyman & Sinha, (2009) examines the role of stress as a motivation for cannabis misuse in university students. This research consists of a systematic review of studies that is gathered from Psych. INFO. On the other side, medicine databases were conducted to make them more effective and reliable. The findings of this study prove that people use cannabis as a stress-coping strategy which causes negative life events in the life of the user. In the discussion of the study, the researcher mentions that the use of cannabis for stress-coping purposes was most evident when examining chronic as compared with experimental use. However, this study also apprised that many individuals can use cannabis without consequences, but these individuals could be at the greatest risk for addiction. So, overall, this integrity-based research adds factual and scientific knowledge to the particular research area.

Kayser (2021) lists the symptoms of obsessive-compulsive disorder because of the use of cannabis. According to Kayser (2021), misuse of cannabis causes many psychological disorders. This study investigated the connection between the use of cannabis and obsessive-compulsive disorder. They have used mixed methods for their research. This research is conducted through an online survey. The survey of the research contained measures of OCD symptoms, cannabis misuse, and cannabis use motives. The results of the study showed that the severity of obsessive-compulsive disorder was related to the quantity of cannabis use, as OCD increased with more cannabis misuse.

Problems associated with using cannabis to cope with stress.

Previous research, the study by Hyman & Sinha (2009) has covered a connection between stress and cannabis. Spradlin & Cuttler, (2019) also focus on elucidating the nature of this link. Researchers examine whether cannabis use motives, such as using cannabis to cope with negative affect or not. This study was conducted on a sample of 578 cannabis-using college students. They completed an anonymous online survey. This survey was designed to measure their early life stress, frequency of cannabis use, chronic stress, and problematic use of cannabis. The finding of the study shows that the early life stress of the victims was significantly associated with more frequent cannabis use. The results of a series of parallel multiple mediation models of this study further revealed that cannabis coping motives aligned with using cannabis to cope with negative effects. So, it suggests that both early life stress and chronic stress may lead to the use of cannabis to cope with stress, which relates to the finding of Kayser et al., (2021).

Students’ positive perceptions of cannabis use.

Another study by Person et al (2017) finds students’ positive perceptions of cannabis use. This qualitative study explored post-secondary students’ perceptions of cannabis use that shows that students thoughtfully use cannabis by balancing various considerations. Participants of the study were 20 undergraduate students at a small liberal arts university in Atlantic Canada. To know their perception, semi-structured interviews were conducted. Also, a thematic analysis technique was used to analyze the interview. The finding of the study shows that students were thoughtfully using cannabis as they had various considerations in their minds in terms of health and academic performance. Further, the findings of the study found students were confident, satisfied, and held positive perceptions of cannabis use.

Students’ Motivations behind using Cannabis.

O’Callaghan & Joyce (2015) investigate the students’ motivations behind using cannabis in university. Students (n = 189) aged 17 to 29 years were part of the study. The survey was completed to assess the intention of the students to use cannabis. They were assessed on three questions: first, they were asked about the advantages and disadvantages of using cannabis; second, what they think and what they should do with cannabis use; and last, what are the factors that might encourage them to use or not use cannabis in the university. The finding of the study shows that the consumers believe that cannabis helps them feel relaxed, forget their worries, and relax from stress. As well, consumers believe certain factors, such as the force of habit, feeling stressed, and the company of being around other people who used can cannabis, ve encouraged them to use cannabis (O’Callaghan & Joyce, 2007).

Summary.

This literature review documented a bunch of qualitative as well as quantitative studies on the subject area of cannabis use and its effect on university students as coping for stress and anxiety. There is a discovered connection between health and the effect of the use of cannabis. Victims suffer from health problems such as suffering from lack of sleep, sleep disturbances, and decreased time to fall asleep (Buckner et al., 2013). Excessive use of marijuana in students causes problems in scholastic performance, memory, and focus. Students who were addicted to cannabis drugs got lower grades compared to students who did not use marijuana (Benz et al., 2021). But some students also showed positive perceptions of cannabis use. Also, there is a direct role of stress as a motivation for cannabis use in university students. People use cannabis as a stress-coping strategy and many individuals use cannabis without consequences. There is an interesting motive behind the use of cannabis in university students. Students believe that cannabis would help them feel relaxed, forget their worries, and relax from stress. In the same regard, consumers use cannabis as a force of habit, and because of the company of being around such as their friends and family.

Implication.

Public policymakers usually go through three major phases. First of all, they understand and identify the problems. In the second step, they used results to make policy, and set the agenda,  and thirdly, implementation and evaluated results. The finding of this literature identifies the problems in the use of cannabis that fulfill the basic requirements for policymaking.

Apart from policymaking, implications for Counselors, Clients, and Counseling could be derived through the findings of these studies. Most of the studies show that the use of cannabis causes different diseases, as the finding by Lee et al (2007). The results of this study can be used in counseling as a counterargument for those who do not believe in the effects of the use of cannabis.

The findings of these different studies help counselors to figure out the symptoms of their clients. Also, the finding of these studies can could help counselors support students in having the alternative solution to cope with the stress that does not involve any type of drugs. Finding ofBöke & Heath (2019) prove that Students get stressed and to avoid the stress they use drugs which ironically push them more towards stress.

Also, many studies have found that students face problems in academic performance and poor health because of the effects of cannabis use. These all help a counselor in guiding his clients. The finding of ‘Callaghan & Joyce (2015) can help counselors to understand the psychology of the students who use Cannabis. Most students use cannabis to feel relaxed and to forget their worries. So, the findings of this research can prove effective in controlling the use of cannabis.

Feature Research.

The articles presented in this paper all explain and identify the effects of cannabis. Ultimately, many researchers have concluded that there is a link between the use of cannabis and the poor health of students. These articles have significance because they enlighten a controversial, so it would be extremely beneficial to continue to research more on this topic so that we can have more accurate and scientific knowledge. A mixed-method (both quantitative and qualitative) could be used to continue this research area, but for this social issue, the qualitative method seems more effective. There should be surveys, experiments, and observational studies on the students who are addicted to cannabis. Also, the use of existing data should not be ignored.

Conclusion.

The use of cannabis is continuously rising in university students as a coping mechanism for anxiety and stress. Among university students, 44% reported using marijuana in the past year in 2020. The documented research is based on the serious harm to the brain development of teenage students who regularly use cannabis as a drug. Also, these problems further affect the scholastic performance and memory of the students as many studies prove that students who were addicted to cannabis drugs got poor grades and most of them could not graduate, compared to students who did not use cannabis. But true in all cases, some research also holds a positive perception about cannabis use, in terms of consideration of its moderate use as many.

This literature review fulfills the criteria of analyzing and comparing literature as it includes the most recent and relevant studies and most of them are quantitative. The study of Hyman & Sinha, (2009) examines the role of stress as a motivation for cannabis misuse in university students, making the greatest contribution to the understanding and development of the chosen topic of this literature review. This research consists of a systematic review of studies and medicine databases conducted tool. The findings of this study prove that people use cannabis for stress coping. Also, it teaches that maybe any individual can use cannabis without consequences, but he would be at the greatest risk for addiction. So, this study adds factual and scientific knowledge to the understanding and development of the chosen topic of this literature review.

In short, this paper has logically ordered research that focuses on themes rather than the authors. The concept of all studies moves from broader concepts to a more specific focus, having profound relevance to the topic of chosen research. Along with that, these articles do come with some limitations. In general, the findings of some studies could be questioned. In most of the studies, the participants were younger at public universities and are not a representative sample of all university students. Maybe the individuals who participated in these studies may not represent the entire population; however, the presented articles explain and identify the effects of cannabis use.

Reference
Aikins, R. D. (2011). Academic Performance Enhancement: A Qualitative Study of the Perceptions and Habits of Prescription Stimulant–Using College Students. Journal of College Student Development, 52(5), 560–576. https://doi.org/10.1353/csd.2011.0064
Amroussia, N., Watanabe, M., & Pearson, J. L. (2020). Seeking safety: a focus group study of young adults’ cannabis-related attitudes, and behavior in a state with legalized recreational cannabis. Harm Reduction Journal, 17(1). https://doi.org/10.1186/s12954-020-00442-8
Benz, M. B., Aston, E. R., Mercurio, A. N., & Metrik, J. (2021). The Potential Impact of Legalization of Recreational Cannabis among Current Users: A Qualitative Inquiry. Journal of Psychoactive Drugs, 1–8. https://doi.org/10.1080/02791072.2021.1959966
Böke, B., Mills, D., Mettler, J., & Heath, N. (2019). Stress and Coping Patterns of University Students. Journal Of College Student Development, 60(1), 85-103. https://doi.org/10.1353/csd.2019.0005
Braun, V., & Clarke, V. (2006). Using thematic analysis in psychology. Qualitative Research in Psychology, 3(2), 77–101. https://doi.org/10.1191/1478088706qp063oa
Buckner, J. D., & Zvolensky, M. J. (2014). Cannabis and related impairment: The unique roles of cannabis use to cope with social anxiety and social avoidance. The American Journal on Addictions, 23(6), 598–603. https://doi.org/10.1111/j.1521-0391.2014.12150.x
Buckner, J. D., Bonn-Miller, M. O., Zvolensky, M. J., & Schmidt, N. B. (2007). Marijuana use motives and social anxiety among marijuana-using young adults. Addictive Behaviors, 32(10), 2238–2252. https://doi.org/10.1016/j.addbeh.2007.04.004
Buckner, J. D., Ecker, A. H., & Vinci, C. (2013). Cannabis use vulnerability among socially anxious users: Cannabis craving during social interaction. Psychology of Addictive Behaviors, 27(1), 236–242. https://doi.org/10.1037/a0029763
Buckner, J. D., Walukevich, K. A., Lemke, A. W., & Jeffries, E. R. (2018). The impact of university sanctions on cannabis use: Individual difference factors that predict change in cannabis use. Translational Issues in Psychological Science, 4(1), 76–84. https://doi.org/10.1037/tps0000147
Deasy, C., Coughlan, B., Piro nom, J., Jourdan, D., & Mannix-McNamara, P. (2014). Psychological Distress and Coping among Higher Education Students: A Mixed Method Enquiry. PLoS ONE, 9(12), e115193. https://doi.org/10.1371/journal.pone.0115193
Hyman, S., & Sinha, R. (2009). Stress-related factors in cannabis use and misuse: Implications for prevention and treatment. Journal Of Substance Abuse Treatment, 36(4), 400-413. https://doi.org/10.1016/j.jsat.2008.08.005
Jackson, K. M., Merrill, J. E., Stevens, A. K., Hayes, K. L., & White, H. R. (2021). Changes in Alcohol Use and Drinking Context due to the COVID‐19 Pandemic: A Multimethod Study of College Student Drinkers. Alcoholism: Clinical and Experimental Research, 45(4), 752–764. https://doi.org/10.1111/acer.14574
Kayser, R., Senter, M., Tobet, R., Raskin, M., Patel, S., & Simpson, H. (2021). Patterns of cannabis use among individuals with obsessive-compulsive disorder: Results from an internet survey. Journal Of Obsessive-Compulsive And Related Disorders, 30, 100664. https://doi.org/10.1016/j.jocrd.2021.100664
Kilwein, T. M., Wedell, E., Herchenroeder, L., Bravo, A. J., & Looby, A. (2020). A qualitative examination of college students’ perceptions of cannabis: insights into the normalization of cannabis use on a college campus. Journal of American College Health, 1–9. https://doi.org/10.1080/07448481.2020.1762612
Lanaway, D., & Burlew, A. K. (2021). The Influence of Distressed Coping on the Relationship between Perceived Racial Discrimination and Cannabis Use among Black College Students. Journal of Psychoactive Drugs, 1–9. https://doi.org/10.1080/02791072.2021.1990443
Lee, C. M. & Woods, B. A.( 2007). Marijuana motives: Young adults’ reasons for using marijuana. Addictive Behaviors, 32(7), 1384–1394. https://doi.org/10.1016/j.addbeh.2006.09.010
MacDougall, C., & Maston, M. (2021). Student perceptions of cannabis use. Journal of American College Health, 1–15. https://doi.org/10.1080/07448481.2021.1910272
O’Callaghan, F., & Joyce, J. (2007). Cannabis: What Makes University Students More or Less Likely to Use It? Journal Of Applied Biobehavioral Research, 11(2), 105-113. https://doi.org/10.1111/j.1751-9861.2006.tb00022.x
Pearson, M. R., Bravo, A. J., & Sotelo, M. (2019). A cross-cultural examination of college marijuana culture in five countries: Measurement invariance of the Perceived Importance of Marijuana to the College Experience Scale. Addictive Behaviors, 96, 11–17. https://doi.org/10.1016/j.addbeh.2019.04.004
Pearson, M. R., Liese, B. S., & Dvorak, R. D. (2017b). College student marijuana involvement: Perceptions, use, and consequences across 11 college campuses. Addictive Behaviors, 66, 83–89. https://doi.org/10.1016/j.addbeh.2016.10.019
Schepis, T. S., de Nadai, A. S., Bravo, A. J., Looby, A., Villarosa-Hurlocker, M. C., & Earleywine, M. (2021). Alcohol use, cannabis use, and psychopathology symptoms among college students before and after COVID-19. Journal of Psychiatric Research, 142, 73–79. https://doi.org/10.1016/j.jpsychires.2021.07.040
Spradlin, A., & Cuttler, C. (2019). Problems Associated with Using Cannabis to Cope with Stress. Cannabis, 2(1), 29-38. https://doi.org/10.26828/cannabis.2019.01.003
Whiteley, L., Haubrick, K. K., Arnold, T., Craker, L., Olsen, E., Hershkowitz, D., Maj, S., & Brown, L. K. (2021). Motivators for Cannabis Use Among Young Adults in Outpatient Psychiatric Care: A Qualitative Study. Motivators for Cannabis Use Among Young Adults in Outpatient Psychiatric Care: A Qualitative Study, 51(3), 590–604. https://doi.org/10.1177/00220426211002125

 
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2022-08-09 10:46:28

Introduction:

This is a basic right of people who have mental disorders, that they receive a high quality of treatment and care. For the regulation of this right, there is a significant number of national policies and legislation that inform governance of mental health and protect mentally disordered people from any form of inhuman treatment and discrimination (Braithwaite, 2013). Further, these policies carry the purpose of guidance and assistance towards consumers and those who care for ill-minded people. Policymakers make policies and strategies for better improvement of the mental health of victims by using the latest resources to achieve the greatest possible outcomes in the field so that they can improve the overall quality of life (“Current Mental Health Legislation”, 2021).

Specifically, two renowned pieces of legislation inform governance of mental health and how people with mental health conditions should receive care and treatment. Here is the Mental Health Act, e 1983, which was later updated by the 2007 Act, and the Mental Capacity Act of 2005 (“What is the Mental Health Act?”, 2021). Add to this, some key national policies are dealt with for the same purpose. So, what we’re doing about mental health matters. According to research (Braithwaite, 2013), almost half of all Australian adults will face mental ill-health at some point in their lives. So, in this particular paper, I am going to Identify key national policy and legislation that informs the governance of mental health; furthermore, the effect of these policies on consumers and who cares.

Discussion:

Health Act 1983:

In normal routine we see a patient is treated willingly, they are volunteered there, and they have agreed; nonetheless, there is also some case regard to mental health when the patient is detained; this comes under the Mental Health Act (1983) where the patient treated without their agreement but according to regulation and for the victim benefits. The main legislation of this act covers the assessment and rights of people with a mental health disorder. Victims become supposed to detain under this act where the regulations demand urgent treatment for a mental health disorder (“What is the Mental Health Act?”, 2021).

It is a legal way to treat the patient for those who do the job of caretaker. It is legalized guidelines for a career that how a mental disorder person can be detained, and treated in a mental hospital, even sometimes against the wish of the victim, so here these mental health act works as safeguards which ensure patients’ rights are upheld reasonably (Braithwaite, 2013).

To protect the rights of people with mental disorders. Mental health legislation is necessary; otherwise, they face discrimination, stigma, and marginalization in all societies which invites the probability that their rights will be violated consciously or consciously (Braithwaite, 2013). It is found out that the mental disorder affects the victim good’s decision-making capacities and they do not able to actualized good policies for their right, and consumer poses a risk to themselves because of disorder policies, so here the responsibility of Mental health legislation that they provide a legal framework for addressing such critical issues such as the community integration of persons with mental disorders (“Current Mental Health Legislation”, 2021).

The Mental Capacity Act 2005:

Same as the mental health act 1983, protect the basic right of mentally ill persons. The Mental Capacity Act 2005 is also designed to protect people who may lack the mental capacity to make their own decisions about their care and treatment (“The Mental Capacity Act 2005”, section 1). Additionally, it applies to people aged 16 and over. In the above act, the things are not particularly defined but this low covers the day-to-day things like what to wear, and what to eat, or some more mature decisions like where to move and where to live. Here is the list of some patients who come under the regulation of this act: all patients with dementia, people who have a severe learning disability, a serious brain injury or a stroke, etc. (“Current Mental Health Legislation”, 2021). but there are still some exceptional cases, and just because a person has one of these health conditions does not necessarily mean they cannot make any decision. For example, there is possible a person who has these types of injuries may not make any complex financial decisions issue but it this also possible that he may have the capacity to make some other simple decisions, such as what items to buy at the local shop (Braithwaite, 2013).

so, the Mental capacity Act 2005 allows the consumer to express their right to treatment and care; on the other side, it is also no objection certificate for the caregiver as they get a legal way as a trusted person to decide on their behalf (“Current Mental Health Legislation”, 2021).

Recommendation:

There is a law, but still, that is not adequately implemented in many countries. After this profound literature review, we come to know that implemented action difficulties can be identified and the law can implement by following some recommendations.

There is a need to set priorities for mental health legislation by the realities of the country concerned accordingly.

Experts should review health and non-health legislation in the country so that they can identify the exact places where priority mental health components can be incorporated successfully.

There is a need to obtain support for mental health legislation from the main stakeholders in the country so that the strategy to follow in implementation could be possible.

Same as there is a need to obtain support executive branch of government, ministries, legislature, and political parties for the implementation successfully.

References
“Mental Capacity Act 2005”. Social Care Institute for Excellence (SCIE). Retrieved 29 October 2019.
Mental Capacity Act (2005) Code of Practice (2007) London: TSO.
Current Mental Health Legislation. (2021). Retrieved 18 April 2021, from https://www.mhanational.org/issues/current-mental-health-legislation
Current Mental Health Legislation. (2021). Retrieved 18 April 2021, from https://www.mhanational.org/issues/current-mental-health-legislation
What is the Mental Health Act? (2021). Retrieved 18 April 2021, from https://www.rethink.org/advice-and-information/rights-restrictions/mental-health-laws/mental-health-act-1983/

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2022-08-10 10:36:17