High Leverage From The Financial Product Innovation Finance Essay - Free Essay Example

From 2000 to 2003, the Federal Reserve made the interest rate target to 1%. This was done to soften the effects of the collapse of the dot-com bubble and of the 911 terrorist attacks. On the other hand, Globalization and trade imbalances made up the large inflows of money into the U.S. from high savings countries, such as China. These two factors lend a cheap credit for the lenders who can take a much higher leverage than before. The default of sub-prime lending Between 1997 and 2006, the American house pricing increased by 124%. Easy credit, and a belief that house prices would continue to appreciate, had let many subprime borrowers to take mortgages. The term subprime refers to the credit level of particular borrowers, who have poor credit histories and with a large risk of loan default than other borrowers. Subprime borrowers who found themselves unable to repay the high monthly payments will begin to default. High leverage from the financial product innovation The term financial innovation refers to develop the financial products, which designed to achieve their clients objectives, such as offsetting the risk. Examples related to this crisis included: the adjustable-rate mortgage; the bundling of subprime mortgages into mortgage-backed securities (MBS) or collateralized debt obligations (CDO) for sale, which also can seemed as securitization; and a kind of credit insurance called credit default swaps(CDS). The usage of these products was widely over the world in the years which the crisis happened. These products are very complexity and they easily be bought or sell between the financial institutions. The CDO was a kind of financial instruments which was created for investors fund subprime mortgages and some other lending. It improved the debts liquidity and which also was the one of the main reasons that results to the housing bubble. Firstly, the different kinds of mortgages were pool together. Then a cash payment was allocated specific securities in a priority sequence. Those securities obtaining cash first received investment-grade ratings from rating agencies. Lower priority securities received cash thereafter, with lower credit ratings but theoretically a higher rate of return on the amount invested. Miss grade of credit rating The rating agencies usually were asked to give a higher rating to the MBSs comparing to other instruments. The higher ratings of the MBSs get the easier to sale. Sometimes, more liquidity means more expensive and valuable. The high ratings also misleading the investors because in their opinion, they thought the MBSs were rated higher, and they were safer. So the investors pull more money in these MBSs which was booming the MBSs value. But actually, the values of underlying assets of these MBSs were decreasing. This also means the probabilities of default were increasing. And the rating agencies could not reflect this on time. These four factors created a great situation for the GFC and the crisis was so heavily to collapse the financial system all over the world. Australian banking system is far more stable than our overseas counterparts. This isnt just rhetoric; it comes down to a number of factors. Australian regulatory framework has proven to be one of the most effective in the world. Australian banking system is far more conservative in our approach to risk than many of our US counterparts. Lenders, in Australia, also tie the re-payment of mortgages to the borrowers, not just the house, which meant Australia didnt see the jingle mail that happened in the US where home-owners simply mailed their house keys to the bank when they couldnt keep up with the mortgage, or burnt their houses down rather than hand them over to the banks. And Australian banking system didnt undertake the kind of subprime housing lending that was one of the initial landslides in the earthquake that became the GFC. The conversion of mortgage securities from huge, illiquid assets owned by local banks into liquid financial instruments that could be sold across the world combined sophisticated U.S. financial services dangerously with relatively unsophisticated financial services elsewhere. The subprime lendi ng and the jingle mail phenomenon, combined with an excess supply of housing, were a toxic combination that set the credit crunch in motion. And Australia doesnt have these three factors. But its obvious that the Australian banking industry has been impacted by the GFC. A quick scan will show that consolidation in the industry has reduced the number of regional banks, and almost all the regional banks are about to be bought out or taken over. And governments are now charging banks more for their wholesale funding guarantee. Earlier 2009, David Morgan, the former Westpac CEO, spoke about the future of Australian banking. In his speech he indicated that any standalone financial institution with a credit rating much below AA will, at best, struggle to obtain funding on a cost competitive basis with the Australian majors. Federal government intervenes to stop the unemployment rate increasing and stop consumption rate failing, and try to slow down the failing stock market. The government started shoring up the economy in a variety of ways. There was a $700 billion guarantee of bank deposits to last for 3 years, and establishment of a $20 billion Building Australia Fund to speed up infrastructure development as one of several new nation building funds amounting to $42 billion in all. The economic stimulus plan included payment of a tax bonus to tens of thousands of Australian taxpayers, enhanced grants to first-home buyers, and a variety of rescue arrangements for industries in serious difficulty such as child-care centers and the automobile industry. These interventions were both timely and necessary and potentially avoided a major financial crisis here in Australia. However the initiatives also had the effect of distorting our competitive banking system, particularly in the area of wholesale funding. The head of the ACCC, Graham Samuel, has spoken out of his concern about the growing concentration of power of the big four banks. Currently, there was another crisis around the world, especial in the European area, which called European debt crisis. Compare with the global financial crisis of 2008, it seems that both crises were result from the lacking of confidence. But actually, the current European debt crisis is quite different from the global financial crisis. In 2008, lots of questions were asked that whether the banking sectors ability to absorb major crisis shocks. The banks were unwilling to lending the money since the confidence in the market fall. This also results to the illiquidity of the market and it also made the crisis worse. This period was before the Lehman event, so it was called post-Lehman period. Nevertheless there is one slight difference subprime mortgages have now been replaced by US debts that do not have the same toxicity, so in at least in this respect the current crisis is on better footing than the crisis of 2008. In addition, tensions observed in the Interbank lending market in which banks lend to each other are much lower than in 2008. Especially since the European Central Bank (ECB) launched an unlimited loan program in order to make a total economic gridlock almost impossible. But, just as in 2008, the markets are calling into question the capitalization of banks. Do these institutions have enough capital to cope with significant losses? Although a vast movement of recapitalization was already launched across Europe, the markets do not seem to be responding in any significant way to this effort. Now, just as then, debt is the main problem. But the debt in the 2008 financial meltdown was largely private sector debt (households and businesses), which the government simply took in order to jump-start the economy. While this plan did help reinvigorate the economy it eventually led to an over-indebted public sector. At the end of 2010, public debt in developed countries accounted for 92% of their gross domestic product (GDP), as opposed to 78% before the Subprime Mortgage crisis. So in many ways, we never fully solved the problem of the 2008 crisis we simply moved the problem from the private sector to the public sector. Whereas in 2008 we suffered from a massive Private Debt Crisis, in 2011 we are currently experiencing a massive Public Debt Crisis. On October 8, 2008, after the shock of Lehman Brothers collapse, seven central banks, including the U.S. Federal Reserve and the European Central Bank, joined forces in order to respond to the crisis in a coherent and unified manner. In 2011, the political and economic rhetoric remain the same everyone agrees that the US and Europe need to form a unified front to deal with the crisis yet it seems that actions have fallen short of promises. In Europe, several nations launched the European Financial Stability Facility (EFSF) in 2010 with a glimmer of hope, but divisions between European national governments slowed down the implementation of its tools and prevented it from finding a lasting solution to reassure markets of the strength of the Euro Zone. In the United States, internal differences have triumphed national cohesion. The differences between Democratic and Republican economic thought has led to deep disagreements on national policy and in the end resulted in the adoption of severely watered down economic policies. Last but not least, on both sides of the Atlantic, political and economic leaders have exhausted their cartridges interest rates are at their lowest and the coffers of the state are empty. Thus, the major difference between the economic crises of 2008 and 2011 is that today there is no more room to maneuver.

The Basic Theological Ideas Regarding A. The Triune God

1. Describe your basic theological ideas regarding: a. The Triune God As Christians, we confess the Shema—â€Å"God is one.† Yet, this creator God has â€Å"revealed himself† as Triune: â€Å"Father, Son and Holy Spirit, distinct but inseparable, eternally one in essence and power.† To say that God is Triune is not to confess three gods, but rather one God in three persons. This central teaching of Christianity asserts the worship of Father, Son and Holy Spirit as one God in unity and simplicity. Charles Wesley proclaims this co-dignity of worship to the three distinct persons of one Triune God in his Hymns on the Trinity 1767: Thee, holy Father, we confess/ Thee, holy Son adore, Thee, Spirit of true holiness,/ We worship evermore ... Supreme, essential One adored/ In coeternal Three. Traditional Trinitarian language states that God is one ousia (substance/nature/essence) and three hypostases (persons). To stand within orthodox Christianity is to confess the Athanasian Creed—â€Å"That we worship one God in Trinity, and Trinity in Unity; neither confounding the Persons; nor dividing the Essence.† Each person of the Trinity is consubstantial, co-eternal and co-equal in glory and majesty. This understanding of the Trinity is essential to what it means to be a Christian. For this reason John Wesley is able to say in his sermon â€Å"On the Trinity,† â€Å"It [the Trinity] lies at the root of all vital religion.† However, while the Trinity is something we confess by faith, it nonetheless remains aShow MoreRelatedThe Doctrine Of The Trinity1600 Words   |  7 Pages Augustine and the Trinity Introduction The doctrine of the Trinity is often viewed as an archaic and abstract theory many churches and theological study programs settled on long ago, and therefore, has little relevance to modern Christian faith. Over the past fifteen centuries, the doctrine of the Trinity has played a peripheral role in Christian theology. Formulated in Nicea (325 C.E.) and later revised in Constantinople (381 C.E.), it has been generally accepted by most Christians. However, thisRead MorePhilosophy And Philosophy Of Religion Essay1681 Words   |  7 Pagesphilosophy with questions regarding the religion, the nature and the existence of god and also the religious vocabulary and texts followed by the people. The religious philosophy and philosophy of religion are very different from each other, in philosophy of religion we discuss the questions regarding the nature of religion as a whole rather than seeking the problems brought by a particular religious system. In philosophy of religion we discuss the question like IS THERE A GOD?. but this is not the onlyRead MoreWhat Is The Church, Why Does It Matter?1842 Words   |  8 PagesChurch is the most vital in God s plan, thus it must be in our own comprehension. In spite of the fact that numerous theologies have overlooked ecclesiology, the precept of the congregation is a vital segment of Christian truth. It is the most noticeable piece of Christian theology, and it is essentially joined with each other. The congregation is the body of Christ called by God s grace through faith in Christ to celebrate him together by serving him in his world. God s eternal plan has alwaysRead MoreThe Basic Theological Ideas Regarding2594 Words   |  11 Pages â€Æ' Describe your basic theological ideas regarding: a. the Triune God The author of Matthew asserts that Jesus final instructions to his disciples included the practice of baptizing in the name of the Father and of the Son and of the Holy Spirit. This is an explicit indication by Jesus of the Trinitarian nature of God. Throughout scripture, God is working gracefully in a loving, distinctive, and yet undivided, relationship. It is out of the tension created by this unified distinctivenessRead More Armageddon Essay4482 Words   |  18 Pagespushes the button, saving the earth but sacrificing himself. On earth, humanity rejoices as its destruction has been circumvented. Background of the film Armageddon was not created as a whimsical fantasy of Hollywood masterminds. In fact, its basic premise stems from a distinct historical event. In 1994, for the first time in the history of humankind, scientists were able to witness in detail the collision of two solar system bodies. Having circled Jupiter in an enclosing elliptical pattern forRead MoreChrist, The Eternal Son Of God3266 Words   |  14 PagesChrist is the Lord Jesus Christ, the eternal Son of God, who became man, without ceasing to be God, having been conceived by the Holy Spirit and born of the Virgin Mary, in order that he might reveal God and redeem sinful men into a justified relationship with Christ. (Rom 3:24-25; 1Pet 2:24; Eph 1:7) Christ (the Son) is part of the triune God, eternally existing in three beings the Father, Son, and Holy Spirit; co-eternal in being, co-identical in nature, co-equal in power and glory and havingRead MoreUt Unum Sint25504 Words   |  103 PagesDialogue as an examination of cons cience Dialogue as a means of resolving disagreements Practical cooperation CHAPTER II - THE FRUITS OF DIALOGUE Brotherhood rediscovered Solidarity in the service of humanity Approaching one another through the Word of God and through divine worship Appreciating the endowments present among other Christians The growth of communion Dialogue with the Churches of the East Resuming contacts Sister Churches Progress in dialogue Relations with the Ancient Churches of the EastRead MoreImportance of Intercultural Communication to Ist7702 Words   |  31 Pagesculture unique. Meaning of the Deep Structure of Culture Although many intercultural communication problems occur on the interpersonal level, most serious confrontations and misunderstandings are as a result of cultural differences that go to the basic core of what it means to be a member of one culture or another. Cultural collisions are evident worldwide e.g. ethnic violence in Africa, clashes between Hindus and Muslims in both India and Pakistan, and hundred of people being killed in conflictsRead MoreTheology of the Body32011 Words   |  129 Pagesmarriage †¢ 16 catechesis from July 11, 1984 to November 28, 1984 C. My aim is to summarize accurately and clearly the central themes that the Holy Father examines in each of the sections. This will help those who want to become familiar with the main ideas of the theology of the body to do so rather quickly — in 30 pages rather than 400 — as well as assist those who are already students of the theology of the body to have them presented in an annotated outline form to facilitate their passing on this

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Reflection Of The Gibbs Reflective Cycle - 945 Words

(Gibbs G, 1988) The introduction of the Gibbs reflective cycle helped the nurses to have a systematic thinking about the different activity phases (Huston, 2014). These logical elements of the procedure are describing the problem, feelings identification, evaluation, analysis, conclusion, and an action plan. Every stage is essential in carrying out the reflective processes for nurses. Nurses come across many situations that affect their emotions, ethical dilemmas, conflicts from the patient’s family and disrespectful colleague (Koutoukidis, Stainton, Hughson, Tabbner, 2013). All these are issues that should be addressed during the reflective process. The reflection helps to analyze the current situation through describing the problem. Common problems that surround nurses are disagreement between the nurse and the patient’s family, rudeness from fellow workers, physical injuries from a mental patient and insecurity issues when working in a mental ward. After describing the problem, the nurses will be allowed to explain what they felt about the situation. Description of the feelings will help increase self-awareness of the consequences in a positive way and effects of the problem. After collecting the individual experiences through interviewing or having a dialogue, the third step will be evaluating the experiences. At this stage, one has taken available notes on the experiences without criticizing the responses from the nurses (Nona, 2010). The fourth step is forShow MoreRelatedReflection Paper On The Gibbs Reflective Cycle1891 Words   |  8 PagesI will first introduce the reflective essay by highlighting my experience when l started the module. In order to provide a framework for this critical reflection essay, I will apply the Gibbs Reflective Cycle (1988) which entails describing the incident, my feelings, thoughts, evaluation and a critical analysis of the whole situation. The essay will demonstrate the weaknesses and strengths of the whole experience and finally focus on an action plan should I be faced with a similar situation in futureRead MoreReflection On The Business Management Module And Internship Experience By Designing Gibbs Reflective Cycle9 79 Words   |  4 PagesSelf-Reflection Student name Student numberâ€Æ' Self-reflection essay This essay has been written in order to provide self-reflections on the business management module and internship experience by incorporating Gibbs reflective cycle. Moreover, this essay also highlighted improvement in skills by getting enrolled in this module. With the intention to make the process of learning updated it is better to rely on the framework proposed by Gibbs (1998) which has mentioned below: Figure 1: Gibb s ReflectiveRead MoreReflective Reflection1266 Words   |  6 PagesGibbs (1998) acknowledges that it is not enough just to perform a task to learn. Once something is learnt it is important to reflect upon that learning experience otherwise the learning experience may be neglected. Correspondingly with Gibbs, this piece of writing will critically evaluate key academic sources linked with reflective practice, these include models by Gibbs, Kolb and Schon. One of these reflective models will be used to provide a critical analysis of my experience on the Study SkillsRead MoreUsing Gibbs Reflective Cycle In Coursework1639 Words   |  7 PagesUsing Gibbs’ Reflective Cycle Gibbs’ Reflective Cycle (or Gibbs’ Reflective Model) Gibbs’ reflective cycle is a theoretical model often used by students as a framework in coursework assignments that require reflective writing. The model was created by Professor Graham Gibbs and appeared in Learning by Doing (1988). It looks like this: Action plan If it arose again what would you do? Descripiton What happened? Conclusion What else could you have done? Feelings What were you thinking and feelingRead MoreReflective Models Used by Nurses Essay891 Words   |  4 PagesReflective Practice Introduction: Reflection its self is looking into personal thoughts and actions. For nurses this would mean looking at how they performed a particular task taking into consideration their interaction with their colleagues and other members of staff, patients and in some cases relatives This then enables the nurse to assess their actions and thought processes. There are various frameworks of reflection that one could choose and the examples used for this workRead MoreUsing Nursing And Midwifery Board Of Australia1318 Words   |  6 Pages Using Nursing and Midwifery Board of Australia Competency standard thirteen (National Midwifery Board of Australia, 2006), this essay will provide a thorough discussion and critical analysis of the reflective process, known as Gibbs reflective cycle (Bulman Shutz, 2008) and how this reflective process in conjunction with competency standard thirteen, will be utilised to enable the author to fulfil their professional and personal goals in becoming a midwife. Personal limitations and strengthsRead MoreAdolescent and Predictable and Unpredictable Elenents of This Transition and Associated Life-Stage1065 Words   |  5 PagesAbdallah. Ayda Critical Reflection Essay Introduction Within the context of nursing there has been a significant change in nursing in the last two decades, where nursing and medical knowledge has led to changes where patients can no longer stay in hospital and reduction in hospital beds. Professionals who are employed in the healthcare industry are dealing with acu tely ill patients who are in more need of care (usher et al 2009). As professionals we must discover the nature that is offered to usRead MoreThe Importance Of Nursing Patients With Multi Resistant Organisms ( Mros )1269 Words   |  6 Pagesprecautions using a model of reflection. Reflection is the process in which learners engage to recapture, notice and re-evaluate their experience, to work with their experience and to turn it into learning (Boud et al, 1993). The skill of reflection is essential to the development of clinical knowledge and ability which allows the learner to consider personal and professional skills and identify needs for ongoing development (Levett-Jones et al, 2011). This reflection will allow me to analyse theRead MoreImportance Of Reflection1482 Words   |  6 PagesImportance of Reflection Reflection is considered to be a process that can be developed to support continuous learning as well as personal and professional development. This can include the process of reflective writing as a means of capturing the thought and experiences (Ghaye,1998). A significant relationship is found between reflective writing and academic learning, as one can identify the need for self-development, critical review, awareness of individual functions and decisions. Reflective writingRead More1. Introduction. Reflective Practice Is A Key Part Of Working1646 Words   |  7 Pages1. Introduction Reflective practice is a key part of working as a health care professional, including speech and language therapists (SLT), and will be used throughout a practitioner’s career as part of their continuing professional development. It is the practice of experiencing situations and then reflecting on them, which is how clinicians may enhance their knowledge and skills and, thus, maintain their competence throughout their career as a practicing therapist (RCSLT, 2003). It is through this

A Brief Note On The Customer Service Worker Essay

In working in the customer service industry a worker would have to adapt to the different cultures and communication for the customers (Van Hook, 2013). You will have to modify your method of interaction with the consumers. There are some customers that would assume that you be more authoritative on the communication style, and other that you would have to me more passive on the approach. The main goal is to have a satisfied customer as a result of the communication. The biggest error that you might make is trying to apply your own cultural beliefs without modification to the customer. The would most certainly lead to frustrated efforts, conflict, bad service and ultimately loss of a customer for the business. The customer service worker has to have the ability to read the customers and make the alterations to satisfy the customer. There are number of ways that you can ensure the communication with the customer in regards to the linguistics, cultural, and demographics factors (Van Ho ok, 2013). The most important is not to assume the customer understands everything that you are trying to explain to them. The diverse community and that the world has become is allow more and more to travel and do business with, the customer may not be fluent in English and the only word that they feel comfortable and confident in is the word yes and nodding of their head as they understand everything. The humor and slang of the English language is not all translated the same with allShow MoreRelatedCUSTOMER SERVICE PLAN SAMPLE Essay1260 Words   |  6 Pagesï » ¿ [Insert Department Name] [Insert Department Logo] Customer Service Plan [Insert Date] This template includes directions and examples. Please remove all text in italics and replace with content for your Department’s customer service plan. Please note that the total length of your plan should be approximately ten pages. Executive Summary The Executive Summary should be 1-1.5 pages. In this section, provide an overview of the purpose of the document, thatRead MoreA Report On Automotive Service Technician1146 Words   |  5 PagesAutomotive Service Technician Main duties: †¢ Receive and review work orders with supervisor and co-workers. †¢ Inspecting motors in operation, road testing vehicles and testing automotive systems and components using electronic/computer or other testing devices to diagnose problems and isolate faults †¢ Adjusting, repairing or replacing parts and components of automotive systems including fuel, brake, steering and suspension systems †¢ Performing scheduled maintenance service such as oil changes, lubricationsRead MoreThe Global Value Chain Management803 Words   |  3 Pagessubcontracted to specialists who can perform their service or produce their goods with a very high level of efficiency. This specialization and efficiency also leverages comparative advantage to ensure that the goods or services are produced where that production is at its peak value. Manual labor ends up conducted in countries where labor is cheap; skilled work ends up conducted in countries with high skilled labor capacity. Carter (2011) notes that global value chain management is challengingRead MoreEffectiveness of Training Methods1435 Words   |  6 Pagesadopt new and efficient technologies, they must ensure workers continue their job-related education, and they must provide training, learning, and development to their staff. All three aims are important; however, training and development are essential in order to motivate and retain employees in which the organization invested its time, resources, and energy. It is a mutually beneficial relationship between the two. Through training, workers increase their level of job performance, productivityRead MoreDeveloping Product Knowledge Of The Coffee Shop Essay1405 Words   |  6 Pageskey information sources that can assist you to identify selected products or services. Write down the each of these reference sources and summarise the information that these references can provide to assist you developing the knowledge of selected products or services. In providing your responses, you should also provide a brief analysis of how reliable and valid of these identified information sources. (Students please note that these information sources can be EITHER from online or books/magazines)Read MoreCase Study : Walmart Case Study1252 Words   |  6 Pages Walmart case study To start of my case study, I’ll give you a brief history of Walmart’s background and what they do as a company, I will reiterate some of their contributing to society. I’ll also touch on some of the information I learned in the article and my take on it. Per the case study article Wal-Mart is the largest retail store in the United States, and is larger than any other retail chain in the world. Currently Wal-Mart operates over 4Read MoreThe Effects Of Workplace Violence On The Workplace1154 Words   |  5 Pagesviolence is defined in the OHSA as the exercise or attempted exercise of physical force by a person against a worker, in a workplace, that causes or could cause physical injury to the worker, or a statement or behavior that it is reasonable for a worker to interpret as a threat to exercise physical force against the worker, in a workplace, that could cause physical injury to the worker(ecentennial reading). ). It can happen at or outside the working environment ,which can extend from dangers andRead MoreSan Francisco Prices870 Words   |  3 Pagespredicted a similar increase in 2014. †¢ Above-average wage growth in certain metropolitan areas , especially those who have experienced the robust employment growth in recent months . †¢ High- skilled workers in the technology industry experienced relatively strong wage increases . Retail and services Despite a brief holiday shopping season in 2013, reported that many retailers holiday retail sales rose more than in 2012. However, also noted that the level of activity in 2013 exceeded that in 2012. TraditionalRead MoreTeam Activity Resources Needed For This Team Building Activity Essay1063 Words   |  5 PagesTeam building activity Resources needed for this team building activity 1. Provide group mentoring Worker skills/expertise 2. Hold company sponsored off-site departmental lunches Equipment/materials 3. Promote employee hobby clubs Administrative support â€Æ' Part B: Develop and send an agenda for the briefing Identify the team who will be involved in the marketing strategies implementationproject Staffs involved in the marketing activity Their positions Mahakanaga Cafà © manager Ponsawan Cafà © ownerRead MoreRoles And Responsibilities Of Managing Director1674 Words   |  7 Pagesoccurs. He is also usually the executive chosen to personally represent the company to important customers and professional bodies. Finance department The finance department is responsible for tracking all transactions of the business. It must balance cash flow to ensure there are enough funds available to meet the day to day payments. This is helped by efficiently controlling credit extended to customers, ensuring payments are received on time, and that the payment policy for the company’s suppliers

Australian Journal Of Political Science

Question: Describe about the Australian Journal Of Political Science? Answer: Summary of the article Nationalism and republicanism in Australia: The Evolution of Institutions, Citizenship and Symbols by John Warhurst The article by John Warhurst discusses about the state of Australia, as to what status its symbols, citizens and institutions possess. The article begins with this assumption and revolves around the conflicting question of a republic, which is a nationalist issue for Australia (Warhurst, 1993). This question is considered in the light of the relationship between Australia and Britain. The present political symbols, citizenship and political institutions of Australia closely resemble to that of the British ones and thus seem to have been borrowed from Britain. Moreover, they have been compared to the Monarchy of Britain in the past. All these circumstances have led to a great confusion about republicanism in the public. Although a part of this chaos is real, but a majority of it has been the creation of the political leaders for their selfish means and partisan. While discussing about this issue, this article also refers to the Australian flag, the national anthem and the Australia Ac t 1986. Apart from this, the issue related to the queen of Australia has also been raised and discussed. It has been highlighted in the article that Australians are reluctant to accept someone, who is British as a monarch in their country. In response to such reluctance and opposition, the arguments offered by Smith, Barwick and various other related people in defense are also discussed (Warhurst Mackerras, 2002). At the end of the article, it is concluded that although the flag and the monarchy are unending business, but at the same time assumption cannot be made that Australia becoming republic is highly unavoidable. References: Warhurst, J. (1993). Nationalism and republicanism in Australia: The evolution of institutions, citizenship and symbols.Australian Journal Of Political Science,28(4), 100-120. Warhurst, J., Mackerras, M. (2002).Constitutional politics. St. Lucia: University Queensland Press.

Reflective Essay for Travel and Tourism Industry- myassignmenthelp

Question: Write about theReflective Essay for Travel and Tourism Industry. Answer: Introduction The gamification in the applications is considered as appealing to the human achievements, rewards and competition, which would act as a tactic to motivate the user to engage with the app (Deterding, 2012). This reflection would be based on the travel app known as Travel, Explore and Go, which would allow the users to interact with the various landmarks and redeem gathered points at various locations. Discussion The innovative evolvement of the smart phones and digital technologies has transformed the travel and tourism industry. Research shows that the travel based mobile apps are considered as seventh most downloaded app category and around 60% of the users do regularly use these apps while planning their trips (Wang, Xiang Fesenmaier, 2014). I have seen that an increasing number of people are making their own travel arrangements through the use of the user-friendly as well as portable mobile apps. The new app named Travel, Explore and Go creates a community in which the users would interact with the local stores and the various landmarks. This app would improve the travel experience and provide pleasure to the travelers. In a broader industry context, this app can also act as a medium for hotel booking, online ticketing, fetching destination details, exploring new travel places and posting feedback regarding the destination (Cabrejos, Kawakami Conte, 2014). The global gamification market is growing at a rapid pace and the increase in the Bring Your Own Device (BYOD) would contribute to the adopters of the gamification techniques (Sharples et al., 2014). There has been an increase in the uses of the social media, which has become a norm among the younger generation. The users in the regions of Europe, North America are increasingly using the social media network to make their daily purchases and also interact with their company of choice. This act has encouraged the organizations to give online gamification techniques so that both the employees and the customers can be benefitted. Ihave witnessed that the gamification technique is an important part in the modern day organizations. It is not only helpful for the customers but this technique is also helpful in conducting the marketing activities such as marketing campaign, advertising and the branding of the different products as well as services. This helps the company in gaining an increased number of prospective clients, which is beneficial for the company in the long run. There are various forms of the gamification such as virtual badges, club cards and the reward points, which are helpful in creating loyalty among the various segments of the customers (Cochoy Hagberg, 2016). The gaming marketing strategy is helpful by giving the customers rewards for using the services of the company, which is automatically being loved by the customers. The strengths of the developed gamifcation app is that it would allow the users to access the information about their surroundings to the places where they are travelling and this could be helpful to them, where there are not much information available. I feel that this kind of app would be helpful in capturing the attention of the audience and influencing the visitors to travel to particular landmarks. This would also help the audiences in removing the obstacles that may come in the way of visiting all the local landmarks. I feel that this app is also used for inducing more automation in the life of a traveler. I have seen that the audience can also use the app to discover new places in the map. I have witnessed that the online gamification app would also give a memorable travel experience. There are certain limitations of this kind of app also. I have witnessed the fact that a poor content, not so engaging content and ineffective app content can turn off the users. There may be certain locations in which the app may not be working and the user may not be able to utilize the app at an optimum level. I feel that the app has immense value as well as future potential as far as the customer engagement is concerned. The app may be very useful in remote locations where there is not adequate information available in Google or other search engines. The global nature of the app would be helpful in the future as there would be more number of international travel and the passengers would need more travel assistance. This type of gaming app is also helpful for increasing the number of tourist footholds in the attractive tourist destinations (Widawska-Stanisz, 2014). I also feel that it would encourage more number of tourists to visit the popular destinations since the app would create interest among the tourists. The gamification has been proved to be an effective method for attracting the attention of the users and emphasizing customer engagement in various domains of social media (Burke, 2016). This is done by placing the user at the center of the provided service and giving more options for user interaction. The technological advances have led to the vulnerability of the various user generated content so that there are obligations of the creators of such input (Xu et al., 2016). The social media service expects the quality as well as appeal control of the various modes of gamification. I feel that the travel based app would be quite helpful in the future for greater user support and greater generation of the user generated content in the social media. Conclusion The gamification is a new technological advancement that is gaining importance in the modern digital world. It is also one of the most powerful tools to increase customer interactions. The technological advancements have made it possible to give more convenient travel experiences to the users. This app is going to improve the nature of the travel and tourism industry. References Burke, B. (2016).Gamify: How gamification motivates people to do extraordinary things. Routledge. Cabrejos, L. J. E. R., Kawakami, G., Conte, T. U. (2014, September). Using a Controlled Experiment to Evaluate Usability Inspection Technologies for Improving the Quality of Mobile Web Applications Earlier in their Design. InSoftware Engineering (SBES), 2014 Brazilian Symposium on(pp. 161-170). IEEE. Cochoy, F., Hagberg, J. (2016). Gamification in the History of Retailing.The Business of Gamification: A Critical Analysis. Deterding, S. (2012). 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