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Methodological Triangulation
Introduction
Human interaction regarding family is somewhat complicated owing to the host of attributes that influence the person’s motives toward the other and the characteristics and effects of communication as the formulation of meaning between two or more individuals. This paper delineates two schools of thought, theoretical and practical, which highlight the significance of methodological triangulation in studying communication.
While the theoretical argument stipulates the modes of logic, inquiry, and explanation employed in research, the practical argument postulates the association between concept, technique and, and the purpose of investigation and validates how methodological triangulation incorporates alternative views on communication occurrences (Wood, 2005). In this paper, methodological triangulation is discussed.
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Triangulation: Determining the Reliability of Qualitative Studies
Accuracy, in a qualitative study, submits to whether the outcomes of a study are probable and reliable- probable in the sense that study outcomes represent the circumstances and reliable within the meaning that evidence underpins the study findings (Wood, 2005). Triangulation is an approach employed by qualitative scholars to evaluate and determine validity in their results by assessing a research question from various angles.
However, there has been a common misconception that the aim of triangulation is to realize accuracy from different sources of data. The truth is that inconsistencies are conceivable based on the comparative strength of divergent approaches. In Patton’s perspective, these discrepancies should be seen as diluting the evidence, but rather as an opportunity to unravel the underlying rationale in the data.
Methodological Triangulation
Methodological triangulation entails the use of various qualitative and qualitative approaches to studying the program. For instance, outcomes from questionnaires, focus groups, and interviews could be evaluated to determine similarities of results. The reliability of the data can only be evident when results from each approach are similar. For instance, suppose a scholar is piloting a case study of a welfare-to-work participant to examine the transformations in his life for taking part in the program for more than 12 months.
The scholar would be required to use interviews, observations, analysis or any other practical approach to evaluating the changes (Thurmond, 2001). The researcher can also assess respondents, their family members and event workers for the quantitative approach. If the outcomes from all of the procedures draw the same or comparable results, then validity has been determined.
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Advantages of methodological triangulation
Methodological triangulation increases confidence, create innovative approaches of comprehending a given phenomenon, demonstrate distinct findings, difficulties or integrate theories and provide a clearer recognition of the issues. All these benefits are a result of diversity as well as the quantity of information that may be used in the analysis. For instance, methodological triangulation has been used to get the detailed opinion of family needs in critical care (Thurmond, 2001).
Using questionnaires and interviews, participants can use such sessions as therapies while non-participants may communicate their disappointments on the questionnaires. Therefore, interviews and questionnaires enhance the depth of findings, which could be impossible through a single method, thus increases not only validity but also the utility of results.
Disadvantages
Methodological triangulation may be time-consuming. Gathering information requires planning and resource organization something that may not be available to researchers. Also, it can lead to disharmony of researcher’s bias and conflict due to theoretical framework inadequate understanding of the importance of methodological triangulation.
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Conclusion
By and large, methodological triangulation is an important strategy in the qualitative study; however it is necessary to weigh the benefits and challenges before using it. If a researcher integrates triangulation in a study, some triangulations may be applied; environmental, methodological, data and theory. Methodological triangulation may be employed to maximize the investigator’s comprehension of the problem while increasing confidence in results of qualitative research.
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The Debate Concerning the Legalization of Marijuana
The debate for and against the legalization of marijuana remains highly contested and may be around in the long run. The federal government, for instance, champions the view that seeks to criminalize marijuana as the basis for increased criminal offenses (Bakalar et al. 1995). On the contrary, the proponents of marijuana usage allege that the positive effects outweigh the negatives.
Thus far, the two extremes have been so passionate in supporting their perspectives with concrete arguments. Despite the heated debate surrounding marijuana, it is only fair to support the school of thought that seeks to decriminalize the use of marijuana for health reasons. In this paper, I will support the argument that marijuana should be made legal on medical grounds.
By August 1999, states such as Alaska, Arizona, California, Oregon and Washington have passed statutes to decriminalize marijuana use for medical reasons. This has seen more than 20 states pass laws that legitimize marijuana usage for medical therapy. Terminally ill patients have benefited widely from these passages. Nonetheless, many people in states that stand opposed to the marijuana use have been dying in their numbers. Ironically, does it, therefore, mean that states in which marijuana has been made legal are mindful of people’s welfare than those that criminalize the substance?
Legalization of Marijuana
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One of the leading factors, why marijuana should be legalized, is due to endorsement by medical experts. In a previous survey conducted by American Society of Clinical Oncology, for instance, 1,035 members provided extraordinary views. About a half of the physicians indicated that they would prescribe marijuana only if it were legalized while 40% reported that they have already prescribed to patients. If doctors are prescribing marijuana, then it is evident that it is effective when it comes to treatment of certain illnesses.
Furthermore, the majority of physicians believe that marijuana is an appropriate anti-emetic. This is of great importance due to severe dehydration associated with emesis or commonly known as vomiting. Medical experts are permitted to recommend narcotics as pain relievers like ephedrine widely known to lead to death in the case of an overdose; nonetheless, they are not allowed to prescribe marijuana even it has not proved to cause death (Kassirer, 1997).
Scientists have demonstrated that marijuana is effective in treating terminally ill patients as a result of its active ingredient or THC chemical. Cancer Patients have learned that marijuana is considerably effective in reducing adverse effects of chemotherapy. Again, multiple sclerosis that is associated with painful muscle spasms, and vertigo that make life unbearable. Some patients allege that marijuana is effective in reducing this pain (Gorodetzky, 1997). Although, there are medications for relieving multiple sclerosis pain, the majority prefer marijuana to reduce their suffering. This is because such medications lead to severe adverse effects, which are not evident with marijuana.
Legalization of Marijuana
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While science has provided a way of making synthetic THC, promoted as Marinol, it’s very costly and seems to lead to significant levels of anxiety and depression (Kassirer, 1997). Other adverse effects of synthetic THC include severe dizziness and unstable gait. Much as these negative effects can be challenging to handle, doctors should prescribe a pill for relieving such effects.
The application of marijuana for medical reasons is a highly debated topic fueled by divergent opinions. These different views stem from the controversy concerning the utilization of an illegal drug for medical reasons. While many people oppose the medical use of marijuana, the other side of the divide has strong proponents who support the use of marijuana for curing chronic diseases.
For hundreds of years, marijuana has been used to ease the pain. With this in mind, modern doctors and scientist think that those opposed to the use of marijuana, are either ignorant or blatantly overlooking the value it presents to the medical world. People suffering from cancer, multiple sclerosis, and AIDS acknowledge the fact that marijuana drug offers them the much-needed therapy (Gorodetzky, 1997).
References
Bakalar, James B., M.D., Grinspoon, Lester, M.D (1995). “Marijuana as Medicine: A Plea for Reconsideration”, Journal of the American Medical Association, 21 June: Vol.273 No 23
Gorodetzky, Charles (1997). “Marijuana”, Grolier Interactive Encyclopedia, CD-ROM, Gwynne, Peter, “Medical Marijuana Debate Moving Toward Closure”, The Scientist, 31 Mar. 1997: Vol.11 No 7
Kassirer, Jerome P., M.D. (1997). “Federal Foolishness and Marijuana“, the New England Journal of Medicine, 30 Jan. 1997: Vol.336 No 5
Legalization of Marijuana
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Practicum Journal Entry
Children are brought by their parents to the clinic with complaints that seems to be straightforward, with most being treated appropriately. However, as advanced nurse practitioner, I am faced by the responsibility to ensure that the patient is diagnosed correctly and the disease is managed effectively. However, making of correct diagnosis can be elusive and in most cases, it will require the APN to carefully consider the possible differentials as well as identifying the most appropriate strategy to manage the problem (Burn et al., 2013).
During the practicum, a 9 year old boy of Hispanic origin reported to the clinic with sore throat and higher fever (1030F), malaise headache and general body weakness. The patient Lymph nodes were swollen. The patient had attended a local clinic where she was diagnosed with streptococcal pharyngitis and was administered with Omnicef 14 mg/kg/day. However the patient condition worsened after 3 days, and the mother was concerned that the child could be suffering from something else (Murray & Chennupati, 2012).
Practicum Journal Entry
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To identify the core area of the child current situation, I employed helpful tool of the pneumonic NEEDS. NEEDS is an acronym that stands for Nutrition, Elimination, Environment/Education, Daycare/ Development and Sleep/ Sexuality (Murray & Chennupati, 2012). In this context, nutritionally, the patient reported difficulty in swallowing but was able to drink cool liquids. The patient elimination was normal as she voided normal stool at least four times a day.
The assessment of the patient education and environment indicated that the patient was doing fine, and that she had not been exposed to sick friends or family friends. The patient general care was good and was involved in Drama club, although the patient missed practice this week. Patient rest is adequate as the she sleeps approximately for 9 hours a night, but have been sleeping for more than 12 hours since the onset of the disease. The patient reported that she had ensured medication adherence, and denied presence of persistent illness in the past (Murray & Chennupati, 2012).
In some cases, when making differential diagnoses, there could be loop holes that can make diagnoses be missed. In this case, specific and sensitive diagnostic tests should be done to facilitate accuracy, cost and precision. In this case, the poor response to antibiotics and patient clinical manifestation of persistent fever, fatigue, tonsillitis and lymphadenopathy made me consider presence of other infections such as infectious mononucleosis (IM). Other differential diagnoses that were considered included acute leukaemia, tumours of the neck, Hodgkin’s disease. Allergies are also associated with throat pain and pharyngeal tickling (Thompson, 2015).
Practicum Journal Entry
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I conducted patient physical examination, where the patient weight, Bp, BMI and height were on the 50th percentile for the patient. The remarkable physical observations were +3 erythematous tonsils that had no exudate. Tonsillar nodes were swollen. The nodes were tender and soft. Patient chest was clear and the heart sounds were normal. All other systems were reviewed and were intact. The laboratory findings were positive for IM (Burn et al., 2013).
However, the diagnosis process posed some challenges. This is because I relied in the initial impression of the clinical diagnostic, and had failed to reconsider the new data obtained during the revaluation. This is because my confidence was low, and was not keen to work with the results that I had gathered from patient assessment. It took the intervention of my preceptor, who helped me reconsider the new data gathered to frame the diagnostic options. My preceptor cautioned against this behaviour. I was also warned about premature closure, where the APN may prematurely close other potential diagnostic possibilities (Thorburn, 2010).
The final diagnosis was IM; however, there is no direct treatment for this disease. The treatment plan was to control patient clinical manifestation. This includes controlling patient fever; maintain patient body hydrated, adequate rest, and the treatment of secondary infections. Treatment is symptom based. The patient was given antipyretics to manage the patient fever. The patient was advised to be in light clothes to facilitate the dissipation of heat.
Practicum Journal Entry
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Appropriate foods as well as liquids were suggested to the mother so as to avoid irritation of the throat. This was done putting consideration of cultural sensitivity to ensure that the food selected would be tolerated by the family. I did not see the need for the patient to continue with Omnicef, but my preceptor advised that group A streptococcus is a secondary infection for patients diagnosed with IM, so the patient should continue with the mediation (Murray & Chennupati, 2012).
As an APN, it was my responsibility to educate the family about the disease, causes, symptomatic and treatment. I educated the patient on importance of finishing the dosage for fever and to avoid use of multiple blankets. The patient is taught the benefits of completing medication to manage the secondary bacterial infections even if it fails to make other clinical manifestation such as sore throat, fatigue and fever to disappear. The benefits of hydration were also monitored (Burn et al., 2013).
References
Burns, C. E., Dunn, A. M., Brady, M. A., Starr, N. B., & Blosser, C. G. (2013). Pediatric primary care(5th ed.). Philadelphia, PA: Elsevier.
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Physical Therapy Admission Application
Insert your address
To Admission Director,
Loma Linda University, School of Allied Health Professions, Office of Admissions, Nichol Hall, Loma Linda, California 92350
Dear Sir/Madam,
I am interested in pursuing Physical Therapy at Loma Linda University in summer 2016. I have chosen to apply in this institution because it was highly recommended by most of the physical therapist I consulted when I was conducting search for a quality physical therapy program.
Since childhood, I have always been keen to help people, especially those with physical disabilities. This bolstered the desire to enrol for a course at the California State University, Dominguez Hills (CSDUH). So far, I have attained good grades and am anticipating to obtain A or A- at the completion of the course. I am current taking HUM 310 and have registered the rest of the general physics units, which I plan to complete before the onset of LLU summer training program. The good grades attained highlight my passion and desire to excel, and make a difference on people’s lives.
Additionally, I have managed to interact with multi-talented physiotherapists at Burlington Convalescent Hospital under the supervision of Margret (will send her recommendation letter independently via email, probably you will receive it by next week). I have also worked as a volunteer at Glandale Memorial Hospital for a short duration due institutions protocols. At the Burlington Convalescent Hospital, I feel sad to see patients suffer and I feel obliged to help them. I feel touched whenever I make impact on patient’s life. Additionally, I am bilingual; I can speak English and Korean. This is an advantage as I can help translate for Korean patients to the therapists.
Physical Therapy Admission Application
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I seek this learning opportunity at LLU where I will be mentored by world class physical therapist to develop a well-rounded skill set such as first rate interpersonal abilities and upholding exceptional work ethics. I seek to study in an institution that encourages personal and professional growth, which will ensure that I develop physically, socially, spiritually and intellectually.
This personal development and growth is supported by the unique environment at LLU which will help me reflect and strengthen my perspectives of humanity. These are the key tools needed to ensure that I serve, promote healthy living and deliver quality care for all patients irrespective of their culture or ethnic backgrounds, especially as I do missionary work around world. I desire to help people heal spiritually and physically during their hard time and illness.
Physical Therapy Admission Application
I believe that the program is essential in attaining my career goals as it will arm me with additional skills, while opening doors for further training and intellectual development. Additional factors that make this program particularly attractive and appropriate for my training demands is that: i) the course design which gives me an opportunity for multi-disciplinary exploration, ii) first world training infrastructure and iii) opportunity to be mentored by the world class professionals.
I believe I am best suited for the requested training program because of my excellent proven track of passion, competence and commitment in this field. I am confident that with my back ground, I will bring invaluable talent, aptitude and versatility to benefit maximally and to add value to the program.
Yours Faithfully,
Physical Therapy Admission Application
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Advanced Practice Roles
Introduction
Nursing is pragmatically considered to be a profession that is within the Medicare division of the overall concern of diverse families, individuals and the communities so the communities can achieve, sustain or even improve their finest health and the eminence life. Nursing can be distinguished from diverse further Medicare providers because of their aspect of work, their work technique to patient’s care, guidance and the extent of performance as the nurses usually carry out work in a broad range of performance areas that has diverse scope of performance and an intensity of the prescriber influence in every practitioner.
Nursing can be said to be a promotion, safety, and even the optimization of abilities and health, impediment of the illness and improvement of pain by the analysis and the treatment of human reaction.
Advanced Practice Roles
Purposes of nursing
Nursing as a worldwide community is normally for its professional to ensure that there is quality care for everybody as they maintain their diverse credentials, standards, code of ethics a competencies. For an individual to work in the nursing as a professional, all the nurse or the nurses practitioners holds one or even more credentials that normally depends on their scope of practice and their education.
Nurses are usually considered as not truly doctor’s assistants because nurses more often are independently caring for their patients or even assisting other nurses in the healthcare centre. Registered Nurses are mandated to treat patients, provide emotional support, record their medical history, and even provide follow-up care because nurses assist doctors in performing some of the diagnostic tests.
Advanced Practice Roles
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Advanced Practice Roles in Nursing
Roles of the Nurse Practitioner, nurse educator, nurse informatics, and nurse administrator in advanced practice nursing
Nurse educators
Nurse educators are registered nurses who have advanced education that includes advanced clinical training in a health care specialty because they combine expertise and also a passion for teaching into rich and rewarding careers selection. Nurse educators normally plays a paramount role in the aspect of strengthening the overall nursing workforce who serves as a role models in providing needed leadership skill so as to implement evidence based practice.
The nurse educators are similar with nurse practitioners in the aspect of health care provision but majorly differ in their work place because a nurse practitioner is in the health care room while a nurse educator can work from school to school so as to educate diverse people on the importance of nursing as a profession.
Nurse informaticians
Nursing Informatics is considered to be a discipline and practice that incorporates the aspect of nursing, its data and diverse awareness, with the diverse administration of data and the communication skills so as to uphold the fitness of communities. A nurse informatics usually work as developers of information and communication technologies, researchers, the principal information and nursing officers and also as software engineers who advance the healthcare facilities.
Center area of work for nurse informaticians includes the perception illustration and standards so as to sustain the evidence-based performance, education, and research. The nurse informaticians are similar with other advanced roles of nursing in the aspect of health care provision and health care improvement but majorly differ in their work place because a nurse informaticians is in the health care control room such as data centre so as to ensure that sophisticated deices and softwares are installed in the health care for improved efficiency.
Advanced Practice Roles
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Nurse administrator
Nurse administrator is an advanced role in nursing professional who are knowledgeable of the aspect of guidance practices as they have relation to the nursing professionals. This particular aspect may refer to a number of managerial supervisory and diverse tittles that assist the health care facilities in carrying on their esteemed functions. The multifaceted and complex character of contemporary healthcare facilities needs nursing guidance professionals who can craft efficient facility-wide systems and intra-departmental of healthcare delivery as they lead to a useful and proficient employees.
Nurse administrator permits for best possible patient care in any health care environment, from private hospices and hospitals to big medical care centers. Nurse administrator is similar to other advanced roles of nursing professionals in that all of the foster the aspect of healthy environment and the general provision of efficient health care services. Conversely, nurse administrator differ with other advanced roles of nursing profession in that they ensure that all the roles are efficient so as to provide a unity and productive workforce.
Selected Advanced Practice Role
Nurse Practitioner
Nurse practitioner is a sophisticated practice of registered nurses who are usually knowledgeable and vigorously skilled so as to offer health support and diverse protection by the aspect of medical analysis and the handling of severe illness and the persistent conditions (Hamric, 2013). A nurse practitioner normally has maximum capability to provide health care to all people even those who are perceived mental challenge because of their scope of work and advanced training.
Nurse practitioner differs with other advanced roles of nursing because nurses are mandated to carry out his or her duties in the health care room such as recording data and diverse healthcare services to the patients. A nurse practitioner is similar to other advanced roles of nursing as all of them involve the service that will prevent illness and promote health (Speziale, 2011).
Advanced Practice Roles
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Nurse Practitioners regulatory and legal requirements for North Carolina
Nurse Practitioners are considered to be the principal group of highly skilled practice and roles in North Carolina State. The licensure law and state practice usually provide for all the nurse practitioners to assess all the sick people, order, analyze, and then interpret the diagnostic tests with physician supervision so as to instigate and then manage treatments that incorporate recommending medications in the special licensure power of the state panel of nursing (Munhall, 2012).
The supervision physician should provide written instructions that orders medication, tests and the treatment which in turns assesses the information of Nurse Practitioners within a logical time. In North Carolina Nurses are normally taken care by a Joint Subcommittee of the North Carolina Medical Boards and the North Carolina Board of Nursing who promulgates rules so as to control the work of nurse practitioners, that then should be accepted by both panels prior to finishing the rulemaking procedure and then becoming effectual.
North Carolina Organization of Nurse Leaders (NCONL) usually exists to promote the nursing management excellence, shape general population guidelines and also toughen the leaders in nursing profession through teamwork and learning (Speziale, 2011). To become a member of the North Carolina Organization of Nurse Leaders, one is supposed to fill out the membership application that can be downloaded from the website. Membership fees dues are normally paid after January 1st is usually prorated on a quarterly basis because prorated membership dues are commonly considered only after a 12-month lapse in membership.
Advanced Practice Roles
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Required competencies for North Carolina
In North Carolina, nurse practitioners are normally required to possess high level of education so as to provide great nursing services to the public at large (DeNisco, 2012). Diverse exams are conducted so as to determine the level of competence that an individual contain. Nursing profession is considered to be a profession that needs adequate and necessary skills and knowledge because of its nature and the aspect that the profession deals with life-saving matters.
The required competencies for a nurse practitioner include pass in a nursing exams with high grades as the profession usually offers for all the nurse practitioners to assess all the patients, order, analyze, and then understand the diagnostic assessments with physician supervision so as to instigate and administer treatments that incorporates recommending prescriptions in the special licensure power of the state panel of nurses (Panel, 2011).
Some of the organizations are deemed best in working as I plan to work in North Carolina State Hospital because I feel that the medical facility environment possesses exceptional characteristics that support nursing profession. The state has a lot of people because the profession needs large population so as to embrace efficiency and experiences.
Advanced Practice Roles
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Health Policy and the Advanced Practice Role
Early childhood experience shapes health and the aspect of well being throughout the life
Early childhood social and economic conditions are considered to directly affect their respective health conditions. Diverse education and income, their neighbors resources and economic and the social factors affects their health at each stage of their life but the impacts on the young children is usually dramatic. Hamric et al (2013), the children early ages have the full potential to set up a path they are leading towards a good health or far away.
The diverse impact of these obstacles and opportunities along with diverse health effects that are accumulated over a long period of time can be transmitted in across generations as the children grow up to become parents because some of the social disadvantage in childhood such as a chronic stress can lead to a health disadvantage in adulthood. The effects of these is that, every parent want the best for all their children but it is usually considered that not all the parents have the same resources so as to assist their young ones to grow up healthy.
The policy needs to change the aspect of health care provision in that all the parents should try having the best practice and education for their children. Children should receive good education earlier so that they can embrace their good health from diverse school education that enhances good health. According to Robert Wood Jonson Foundation, nurse practitioners need diverse health policy attributes that will assist him or her ensure that the policies are helpful because as the number of negative childhood experiences increases it also increases the aspect of negative health outcome.
Advanced Practice Roles
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The process required to make the changes in the health policy should be instrumental so as to embrace productivity as a nurse practitioners have the capability to conduct numerous campaigns so as to preach the good parts of early childhood experience as it shapes health and the aspect of well being throughout the life of a child. According to Robert Wood Jonson Foundation, interested parties are normally the health practitioners, government and parents who have the responsibility to ensure that the children have a positive environment that will assist them shape the livelihood of their children.
Nurse practitioners need to be very intelligent in what they are doing so as to reveal any confidential matter that concerns a patient (Hamric, 2013). What I could that may lead the efforts to influence the change in policy is conducting numerous training so as to promote and ensure that the children have a positive environment that will assist them shape the livelihood of their children. I will attain and evaluate those missing attributes by continuous practice because this is considered to be the best way to add knowledge for a nurse practitioner.
Prediction of the effects on healthcare quality if the change is implemented
If the particular changes are implemented, children will have a better life when the attain an adulthood age because of the aspect that they have been shaped because nurse practitioners have diverse responsibilities to ensure that the children have a positive environment that will assist them shape the livelihood.
Advanced Practice Roles
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Conclusions
According to Robert Wood Jonson Foundation, nursing is considered to be one of the professions that promotes, protects, protection of the poor health and injuries, assistance of healing, and lessening of the affliction by the analysis and management of human reaction (Parahoo, 2014). Nurse practitioners use their leadership attributes to ensure that the nursing profession continues providing quality services to the whole world because nurse practitioners normally have maximum capability to provide health care to all people even those who are perceived mental challenge because of their scope of work and advanced training.
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Distance concepts and their effects on bilateral FDI flows
Definition of distance
Distance is an important aspect to note in business. It is the difference in perspective of several aspects between two or more parties in any business. Distance is more significant in an international business platform than in a local or domestic set up. As developed by Pankaj Ghemawat (2011), the CAGE framework is used to define the different concepts of distance between countries in international business. CAGE, an acronym standing for Cultural, Administrative, and Economic distances. The definitions of this concept in the perspective of bilateral factors are as follows below.
Cultural distance
Whenever a pair of countries is involved in the trade, there is a likelihood to have distinguishing factors based on the diverse cultures of each party. This may include differences in; languages, ethnicities (this includes lack of social or connective ethnic networks), religious beliefs, norms, dispositions and values. Cultural distance is also often characterized by the lack of trust. The cultural background of customers affects their tastes and preferences that maybe much more significant especially when it comes to consumer goods.
Choices are often determined by individual’s social norms, for instance in the Chinese have a liking copyright violations, and this is deep in their history. Ceteris paribus, trade between two countries with a common language, e.g., the USA and Canada is likely to boom unlike where there is no common language. The cultural aspects also create a distance through impelling the decision made on substitute goods. Research reveals that tastes and colour are also linked to culture. Japan natives have a preference for small house appliances and automobiles, and this is their social norm (Berry et al., 2010).
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Administrative distance
Administrative distance is characterized by hostility in politics, lack of a common regional trade bloc, the disparity in the currency, differences in colonial history and other administrative matters. Policies created by individual governments may create a barrier to their cross-border trading. In the USA, bribery is illegal for companies and individuals, this has impacts the nation’s multinational business.
Barriers may also be raised through the creation of trade quotas, tariffs, restrictions on FDI and local enterprises preference regarding favoritism, subsidies, and regulations. A target nation’s institutional stability also influences their trade activities across the borders. Corporations shun from investing in corrupt nations (Siegal et al., 2012).
Geographic distance
It encompasses the physical distance between countries. How far a country is from another physically really impacts their trading activities. Differences may include lack of a clear land border, different zones in time due to the longitudes and different environments, whether and climatic conditions. The physical distance directly affects the transportation cost of goods and services.
For instance, the cost of oil in America may be higher if it was being imported from the Middle East. Geographic distance has a direct impact on the trade and FDI flows between any two given countries. It is, therefore, vital for an enterprise to consider the transport networks and information before engaging in any trade (Siegal et al., 2012).
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Economic distance
Every country in business has its unique economic factors. The poverty/ rich levels between countries are never similar. The more prosperous a country is, the more their involvement in the cross-border economic activities, unlike their poorer counterparts. Other differences may include the quality of the resources as well as their cost, for instance financial, natural and human resources.
The infrastructure, knowledge or information levels may also differ between two or more countries. Corporations tend to invest in foreign countries with similar economic patterns to that of their home country a good example is Indonesia and south Korea where Nike inc. and Reebok have heavily invested (Berry et al., 2010).
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Factors that influence acquisition of an existent corporation
A green field venture means starting off an enterprise from scratch, which is from a green field (Klimek, 2011). Acquisition of an existent corporation as opposed to Greenfield venture, has several merits. Firstly, it is faster. If the investor wanted the company to take a shorter time for their presence to be noted as well as compete well at entry level in the market, then this would be the best option. Greenfield ventures demand a longer period of physical construction and developing the company.
The acquisition is one of the cost-effective means for the investment to realize a competitive mileage in technology, brand name, distribution and logistical advantages as it gets rid of the local competitor. International political, economic and foreign exchange state may cause imperfections in the market thus causing the target companies to be underestimated. Several MNEs in Asia have been targeted in the recent past due to the economic crisis in the region that consequently impacts on their financial wellbeing.
Acquisition of an existent corporation
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This has left many companies in a state of desperation for capital injections to survive competitively. The acquisition is the best strategy to solve such challenges as maneuvering through the local distribution channels, recruitment of the local employees, and it also creates a platform with a readily established market with a customer base. Such factors shorten the time needed for the venture to break even. On the other hand, cross-border acquisitions have their shortcomings that the investor needs to consider before making the bold step.
The costs of acquisition and financing are relatively too high. It can be difficult to mesh diverse corporate cultures. It may force the management to consider slimming down in order to up the economies of scale. The outcomes of such a step may not be productive to the firm since there is a tendency for individuals to try saving their jobs. Other difficulties may emanate from the host nation’s interference with financing, pricing, market segmentation; employment guarantees favoritism and overall nationalism.
An investor may decide on acquiring a joint venture. In such a form the investor accesses the local partner’s experience and skills, the government contacts and the knowledge about the local market. A joint venture is thus regarded the best way of investment (Becker & Fuest, 2011).
References
Becker, J. and Fuest, C., 2011. Tax competition-Greenfield investment versus mergers and acquisitions. Regional Science and Urban Economics, 41(5), pp.476-486.
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The Liability of Foreignness Concept Definition
Liability of foreignness is the total of costs, which comprises of the unseen costs associated with the engagement with new legislatures and cultures when doing business abroad unlike home.
How the LOF affects the balance between the costs and benefits of international diversification
Elango (2009) asserts in his definition of LOF that it results in a disadvantageous competition for any multinational company. Generally, according to Elango, the costs incurred by an enterprise abroad would not be incurred by a similar local company. The genesis of such costs could be cultural, geographical, economic and institutional distances that lead to an increment in costs and makes it hard to succeed abroad. LOF majors on the social expenditures of transactions overseas.
Such costs are gotten from the relational, unfamiliarity and discrimination challenges faced by the foreign companies, unlike their domestic counterparts. They are innately uncertain and may be incurred even in future. Unfamiliarity costs are a reflection of poor experience or knowledge in the foreign country hence a setback to the foreign companies as likened to the local enterprises. There is a tendency for the foreign investors to pay handsomely for what the locals acquire cheaply or at zero cost.
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For instance, local banks in Germany are likely to have a sigh of relief if the Bundesbank lowers the interest rates in a day’s time but British-based banks in the country may have nothing to celebrate. Such an LOF is related to the durability of its existence in the host nation. Short-term resolutions in the foreign country result to unexpected challenges that are covered in the additional costs incurred by the multinational company to realize a similar level of host-market awareness as the domestic company.
Unfamiliarity hazards result to a rise in the average cost of the foreign company, but the production level remains constant. Such building market awareness costs should be gotten rid of with time, although they may persist if the multinational corporation managers continue adhering to the global strategy and fail to involve themselves in the civic learning (Barnard, 2010).
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The importance of selecting a business location
Business location selection is a practice that entails finding a new business facility site. The business location is critical for any venture to realize growth as well as experience successful operations (Hair Jr et al., 2015).
The criterion for selecting a business location
Choosing a business location requires precision in market research and planning. Location selection entails assessment of the needs for a new venture and measuring them against the advantages of the potential sites. Therefore, it is imperative to put into consideration several factors when making a choice for the company’s location. The selection procedure involves steps such as; definition of the business idea, evaluation of the communities, real estate site analysis, tax incentive negotiation and finally acquisition of the site.
Several aspects are involved such as assessment of the supply chain, observation of the demographics, understanding state legislature, staying on budget and scoping the competition. Some other factors to focus on in the research include; the company needs, employees, customers, the equipment required to deliver services among others (Cavusgil et al., 2014).
Company and customer needs assessment
Talking of the company needs, most enterprises make a location choice that gives them accessibility to their customers. On this note, it is vital to consider the brand image and ask whether the location is going to be consistent with the intended brand. Establish whether the companies around are complementing or competing for the venture. It is very necessary mostly where shopping comparisons are common.
If the competitor is likely to make the environment tougher then it is advisable to shift the location. There is a need to find out whether the target area has potential employees and the rates of labor. If the business has a prospect of growth, then one should look for a building that offers room for expansion. The business should also be located at a place where suppliers can quickly find you. In cases where the customer base is local one is required to find out whether the population matches the customer profile for the business support.
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Find out whether the community has a stable economy for the company’s well-being. It is vital to be cautious with a community that solely dependent on a particular company for their economy since this could lead to a downturn that is not healthy for any business. One has to think also of safety too, thus, questions about the crime rate in the select area need be asked. (Cavusgil et al., 2014).
Business style of operation and the legislature
The business location should be consistent with one’s style of operation. There is a need to determine whether the intended operation is going to be formal or informal. Having the knowledge about the legislature on businesses in a given location is very essential. Look into hidden costs because not many spaces are business ready thus requiring a lot of initial work be done before start-up.
Determine also whether the select location qualifies you to access the government economic incentives. Zoning regulations; these help determine whether one may conduct their type of venture in a given building or location. This may be found out through holding the local planning agencies (Hair Jr et al., 2015).
References
Cavusgil, S.T., Knight, G., Riesenberger, J.R., Rammal, H.G. and Rose, E.L., 2014. International business. Pearson Australia.
