The Impact of Globalization and the Internet Presents Real

The bailiwick of globalisation has become a heatedly contested debate over the byg one and totally(a) two decades. Indeed, the improverd integration of internationa inclination of an orbitic economies have led to costs to round and benefits to others. These costs and benefits argon a impinge onspring of iii effects of globalization, that is, expand markets, cheaper resources or a combination of the two. Firstly, from the business perspective, one effect of globalization is that of expanded markets. This center that a business that had previously only sold its goods domestically can galvanise selling products to other countries and this can increase their profit potential.Secondly, another consequence of symmetrical trade agreements is the access to cheaper resources. Until the start of the 1990s, the Peoples commonwealth of chinaware was largely closed off to the rest of the world. Many companies in the unite States produced their goods either domestically or in area s with slightly less expensive labor. When China opened its market to the rest of the world, however, American companies were able to bear advantage of the off the beaten track(predicate) cheaper labor.This is known as out(a)sourcing. Cheaper labor contributes to cheaper costs, which in turn contributes to larger profits. Sometimes, but not always, this may also mean cheaper products and services. Finally, world-wide development, as a consequence of globalization, arises out of a combination of twain expanded markets as well as cheaper resources. A prime example of this is India. Before the tardily 90s, the information technical schoolnology sector in India was largely in its infancy stage.However, pair with an educated yet inexpensive workforce, foreign companies were able to start subsidiaries of high tech activities in cities like Bangalore. This technological know-how col to local firms, who in turn grew as a result of expanded markets both in India as well as the rest of the world. More and more organizations are getting hooked into the earnings. They use the Internet to promote and sell their products and services, provide client support, deliver training, and share corporate information with clients, employees, and customers.Businesses have found that the Internet is a powerful tool to help throw their employees and customers connected. In Vietnam, many organizations know to take advantages of globalization and internet to manage their operations. However, to exist in a competitive environment, they must(prenominal) understand in depth the strategical provision with the support of two to a higher place factors. Strategic planning is an organizations process of defining its strategy , or direction, and making decision on allocating its resources to keep an eye on this strategy.In order to determine the direction of the organization, it is incumbent to understand its current position and the doable avenues through which it can pursue a particular course of action. Generally, strategic planning deals with at least one of three key questions 1. What do we do? 2. For whom do we do it? 3. How do we excel? With the fear of Internet, firms can use high engineering to access the external situation analysis, supplier markets and labor markets. In addition, they can substantially find the database of competitors on the internet to figure of speech the attractive policy and prices for their own companies.References list Wheelen, T. L. , & Hunger, J. D. (2012). Concepts in strategic direction and business policy (13th ed. ). Upper shoot River, NJ Prentice Hall. Myatt, M. (2011). The impact of globalization on business. Retrieved from http//www. n2growth. com/blog/the-impact-of-globalization-on-business/ Green , J. (2011). How Does globalization Affect an Organizations Business Approach? Retrieved from http//smallbusiness. chron. com/globalization-affect-organizations-business-approach-20077. hypertext markup lang uage

'Mark Twain Essay\r'

'The possession and safeguarding of empire on impertinent lands by a nation is called Imperialism. The enclosure was familiar to the Americans only during mid ordinal century. Mark Twain expressed his attitudes against imperialism in many of his works and also state it in harsh words. â€Å"I am an anti imperialist”, I am opposed to having the eagle put its talons on any other land”. subsequentlys he became the vice-president of Anti-Imperialist League.\r\nThe protagonist Hang Morgan in ‘A Connecticut northern in King Arthur’s Court, was brought back to 6th century England which was a time of grand political, economic and social hassles. The superstitions and fear of eldritch forces oppressed the lives of ordinary people. There he became ‘The Boss’ through his little scientific knowledge. The Camelot is not a place of unnamed social setting to the protagonist, but he failed to see what was happening beyond his suggestions.\r\nEdmund Reiss (in his afterward to A Connecticut Yankee in King Arthur’s Court) quotes Twain as having said â€Å"This Yankee of mine has neither the refine handst nor weakness of a college education. He is a perfect ignoramus”. The problem of imperialism is well extracted through the single character, Hank Morgan. Hank succeeded in bringing advancement to the people and order through technology and science. Clarence is a characteristic six century youth, who later en suite himself to nineteenth century.\r\nThe process was against what happened in Hank, who now wishes to be in the past, with Sandy. by dint of the depiction of the two characters itself, Twain tries to escape the positive and negative aspects of imperialism. Through the kill at the end of the story and pigeon hawk’s victory, Twain reminds the readers about men’s need of having faith in supernatural powers. References Twain Mark. ( 1889) . A write Warmed Up in Hell, harpist and Brothers, USA Twain Mark. (1889),A Connecticut Yankee in King Arthur’s Court. harpist & Brothers, USA .\r\n'

'Regulatory Bodies\r'

'ROLE OF restrictive BODIES INTRODUCTION Health Professionals such as nurses doctors, Pharmacist and many a nonher(prenominal)s atomic number 18 modulate and authorize by regulative bodies as required by provincial legislation. altogether nurses argon required to be licensed to exercising with their designated provincial care for regulatory body. Legal responsibility in nurse course session is becoming of greater grandeur as each year passes. In order to come through safe and workmanlike care for care an understanding of wakeless boundaries is very essential. It is important to know the fair play in one adduce and the regimen enforcing these laws.\r\nVITAL ROLE OF restrictive BODIES * To batten down the public’s light to whole tone health care service. * To support and tending professional members. * Set and enforce measuring sticks of nurse practice. * proctor and enforce standards for treat teaching. * Monitor and enforce standards of breast feed ing practice. * Set the requirements for readjustment of treat professionals. treat regulatory bodies alike known as colleges or associations, are accountable for the licensing of nurses with in their respective provinces territory. The nurse Regulatory bodies receives their authority from legislation.\r\nMAJOR TYPES OF REGULATORY BODIES * The central government. * The state government * institutional Rules * Trained Nurses Association of India * Inter national council for Nurses * American Nurses Association * Canadian Nurses Association * case League for breast feeding ROLE OF telephone exchange GOVERNMENT The central government is a opening of regulatory body in three ways, finished. 1) Government service shell out rules 2) The Indian nursing council Act 3) The slope law THE GOVERNMENT SERVICE persuade RULES These are detailed rules of conduct for are government employees.\r\nExamples of these are the requirement to substantiate absolute integrity, devotion to duty and laid-back standards of moral behaviour. Only a a couple of(prenominal) are applicable to the nursing practice, precisely all would be applicable to the practice of a nurse employed by the government. INDIAN NURSING COUNCIL ACT The Indian Nursing Council, which was authorised by the Indian Nursing Council Act of 1947, was established In 1949 for the purpose providing unvarying standards in nursing education and reciprocality in nursing registration throughout the country.\r\nThe notwithstanding national legislation directly related to nursing practice, likewise provides a basis from which rules for nursing practice can be developed. Among other responsibilities, this Act gives authority to the Indian Nursing Council for prescribing curricula for nursing education and recognising qualifications of institutions with teaching architectural plans for nursing. This factor that the INC has authority to accommodate nursing education and what the nurse is prepared to do. It is i mportant because well-grounded responsibility does finally depend upon what you should be able to do and how you should do it as well as what you are not prepared to do.\r\nThe INC uses this authority in nursing education but it delegates authority for control of nursing practice to the show Nurses’ readjustment Councils. INDIAN NURSING COUNCIL The Indian Nursing Council was authorized by the Indian Nursing Act of 1947. It was established in 1949 to providing render standards in nursing education and reciprocality in nursing registration through out the country. Nurses registered in one stat were not necessarily recognized for registration in another state before this time.\r\nThe rail of mutual recognition by the state Nurses Registration Councils, which is called reciprocity, was possible only if akin standards of nursing education were maintained. FUNCTIONS OF INC 1) It provide uniform standards of in nursing education and reciprocity in nursing registration. 2) It ha s authority to enjoin curriculum for nursing education in all states. 3) It has authority to recognize programme for nursing education or to hold up recognition of a programme if it did not meet the standards required by the council. ) To provide the Registration of foreign nurses and for the maintance of the Indian Nurses Register. 5) The INC authorizes State Nurses Registration Council and Examining Board to issue expiration certificates. The INC has been disposed(p)(p) heavy responsibilities for nursing practice and nursing education but it has not been able to exert enough fountain to support high standards in nursing. slope LAW The law based upon the incline Pattern is the third way in which the Central Government is a source of legal authority. These laws are very specialised and make you â€Å"liable for negligence” or answerable to the laws for acts of carelessness.\r\nThe laws summarised below are given for medical practitioners including nurses. 1) The p roficient to refuse to the treat a affected role expect in an emergency situation. 2) The right to sue for fees. (Applicable only to private duty nurse or private practitioners: other nurses are salaried. ) 3) The right to add a titile descriptions to one’s name. Any title, description, abbreviation or earn which implies nolding a tier, diploma, license or certificate showing particular qualifications may be added. (Improper use of these is often prohibited by State Nurses Registration Acts. The right to support the Red Cross Emblem is given only to members of the Army medical service. 4) unregistered practitioners are not allowed to hold positions or appointments in public and local hospitals 5) key duties. a) To exercise a reasonable degree of skill and knowledge in treating affected roles. The standard held is that exercised by other reputable members of the kindred profession in similar circumstances. b) formerly a relationship to a patient has been established, t here is an obligation to attend the patient as long as unavoidable unless the patient requests withdrawal or invoice is given of intention to withdraw. ) A practitioner must give personal vigilance to his cases and answer calls with reasonable promptness. d) Children must be protected from harming themselves. e) Special precautions must be taken in the case of adults who are incapable of taking care of themselves. 6) The Indian Penal Code demands that poisonous drugs be kept in separate containers mighty labeled and marked. Care must be taken not to mix with non-poisonous drugs. 7) There is a duty of concealing to the patients.\r\nRecords must be treated as confidential unless the practitioner is called upon to give state in court. 8) Dangerous diseases must be reported. (Theses will vary in several(predicate) parts of the country. ) 9) Nurses as considered solely responsible for their own professional acts irrespective of the employing authority. A fine is the usual penalty oblige for disobeying the law stated above, although imprisonment is also possible. The central responsibility consists mainly of indemnity making, palnning, guiding, assisting evaluating and Co. ordinating the work.\r\n'

'The Qualities that Bullies Share\r'

'Bullies have always been a panic to every kid in school, in a neighborhood and even to gr birth-ups in the piece of work. A great number of films, near especially teen flicks, have uninventive bullies as the students who ar largely make to physically abuse much small students, football jocks who ar very usual that every girl adores them and nerds fear them, and amiable girls who be as popular as the jocks who would pick on not-so attractive girls. However, these are merely stereotypes which are used for cinematic drama only they pose a good reflection of real heart bullies.N onetheless, we female genitalianot simply identify them by race, gender, age or the way they look til now they seem to share certain qualties which are jet to bullies. These qualities may be seen in their physical looks, built, family background, and steamy stability. The Qualities that Bullies Share blustering(a) is defined as a â€Å" behavior which consistently undemrines anothers confide nce, reducing feelings of self-worth and self-esteem” (Field, 51). This explanation of the term already gives away an learn of a cock.A bully cannot regularly be determined by simply judging his or her physical built but rather the persons emotional and psychological stability. superstar of the few qualities that bullies have in common is their immaturity in handling responsibilities. They evaluate to be destructively critical of others to release their inability to process the situation themselves. For example, in school, a bully student could excite all the faults on his or her testing ground partner once their experiment fails. The bullys inability to accept his or her failure shows how autocratic and immature the person is.They strain to blanket up whatever personal vulnerabilities by picking and finding fault on others. They are always full of complaints without offset analysing what their supposed role is. In sex act to their immaturity and irresponsibil ity, another quality which can be present in a bullys personality are their insecurities in life. They always seem to have a pile that they are above others. They can be considered to be self-absorbed at some point as they would always sharpen mess who they think they can manipulate. They taste to degrade other peoples self-esteem thought that they could boost theirs.â€Å"He also injects his own insecurity which is then transferred to the victim” (Field, 52). They try to exhaust their insecurities to their victims to avoid having to face their emotional misery on their own. This behaviour in bullies shows how undeveloped their emotional stability is. They cannot handle emotionally-degrading situations so they they try to deal with it by turning them over to their victims. Their immaturity and insecurities are eating up what could have been an oppurtunity for their characters and skills to develop. ConclusionBullies do not have a particular(a) face or look that one can easily pinpoint. They can be anyone in your surroundings who can aim a lot of destructive criticisms in a snap of a finger. They may not even be apprised that they are committing an act of bullying. A bully is not always the fat guy in school or the better-looking jocks portrayed on film. They are people who have problems trying deal with their incapacities by degrading others. Work Cited Field, Tim. Bully in sight: how to predict, resist, challenge and combat workplace bullying : overcoming the silence and denial by which abuse thrives. United Kingdom: victory\r\n'

'Psychosexual theory Essay\r'

'Sigmund Freud was born 1856 in Moravian town of Freiburg, and was the oldest of 8 fryren. Freud was a b rectify nestling who had think to study law, instead attending the health check faculty at University of Vienna. He went on to study and find a regain for troubled adults, where the patient talked through their problems of childhood. The terminal of this was to realise emotions that had been trapped in the unconscious brain mind of the adult. Freud believed that intimate life and primal childhood phylogenesis was a broker in troubled adults in adulthood. This explore precedes to Freud’s psycho cozy theory. ( Thurschwell, 2000).\r\nFreud composed the archetype that there atomic number 18 three split that make up record in the brain. These three parts of personality argon Id, Ego and super ego. The Id is the largest portion of the mind and is the only part of personality that is set from birth. ( Berk, 2009). The function of the Id is to execute the basic wants and call for. Example, eating, sleeping, drinking. This atom is essential in infants to ensure their needs and wants are met. A baby testament continuously cry until the demands of the Id are met. however the wants and demands of the Id are non realistic or needed, this is where the Ego takes force.\r\nThe Ego develops in early infancy and its job is to control and satisfy the Ids impulses so they are realistic in the real world. Between the ages of 3-6 years, the Superego develops. The superego holds what’s right and wrong in, m oral exams and rules that fork over been learnt from parents and society. To accommodate a good personality social structure one most have a good balance between the Id, ego and superego. Id, ego and superego become integrated into Freud’s theory of psycho knowledgeable theory. (Louw, 2002).\r\nFreud constructed his theory called â€Å"psychosexual theory, which emphasizes that how parents manage their child’s sexual an d aggressive deals in the primary few years is crucial for healthy personality developing.” ( Berk, 2009, pg. 16). Psychosexual theory consisted of 5 stages of information. Oral, anal, priapic, rotational latency and genital. Oral stage occurs between birth- 1 year in this stage the rivet is on the mouth and sucking activities. If the oral needs for sucking are not meet in this stage it could leave alone to later problems in life, such as thumb sucking, smoking and over eating. anal retentive stage 1-3 years, toilet training takes take aim between parent and child.\r\nThis stage is where children first have an encounter with rules. If to many or to few demands in this stage are made it could lead to orderliness, messiness and disorders in later life. Phallic stage 3- 6 years, focus inspires to the genital area. Children start to have desires for the opposite sex parent and move away from the similar sex parent. Children then(prenominal) have to learn to suppress the se feelings and conform to the same sex parent’s characteristics.\r\nIf these feelings are not suppressed it could lead to confusion of sexual identity. The superego kicks in, in the phallic stage. Latiency 6-11 years, Children’s sexual instincts aren’t so strong and lean to playing and interacting with same sex. Superego has actual more, morals and social rules are learnt from parents and society. Last stage of development is the genital stage, which occurs in adolescence, puberty starts to occur and sexual impulses appear again. If a child has developed properly through previous stages it will lead to, marriage, sex and birth. (Louw, 2002).\r\nFreud’s psychosexual theory was one of the first theories to question into the relationship between parent and child in early years. Eventually more inquiryers researched into Freud’s theory, discovering that all Freud’s research was not accurate. Freud’s seduce has been criticized for, n ot taking other cultures into consideration, not canvass children directly and over use of sexual feelings in development. Like Piagets theory it is saturated to use their ideas in learning and development today in virgin Zealand, as there is a lot of disapproval around their work. Research into child development has expanded over the years and selective information is more accurate and useful. ( Newman & Newman, 2007).\r\nFreud and Piaget influenced approaching theorists into more in-depth research in child development. twain Freud and Piaget used the idea of children’s development being discontinuous and in stages. Piaget focused on sexual drive in young children, Piaget focused on children develop as they adapt to their environment. Both theorists have had criticism surrounded their work which makes it hard to relate their theory’s to learning and development in New Zealand today. (Berk, 2009).\r\nReference List\r\nBerk, L. (2009). Child development ( 8th ed). United States, Pearsons create. Dennis, C., & Mitterer, O.J. (2006) asylum to psychology: Gateways to mind and behaviour. United States, Wadsworth Publishing: http://www.sparknotes.com\r\n'

'How organizational culture relates to innovation Essay\r'

'How organizational acculturation sack Support creativeness and Innovation when we speak up of the terms Innovation and creative thin queer we au tomcatatically think of the Individual. We often ask ourselves, w assume evict the Individual influence into an brass section? What suit of creativeness does the Individual view as that tush meet the arranging and how would it help the placement grow? As we ask ourselves these questions we argon often overlooking the of the essence(predicate) nerves that correlate to an individual’s capability of creativity and design It is classical to understand the scope In which the Individual functions (Mclean. 05, pg,227). one vltal feeling Is the schemeal grow. boldnessal culture Is denned as the divided values, beliefs and traditions that exist among individuals In an organization. When we preserve to the culture in an organization we should flip over if everyone In the organization cook shargond values and belie fs that contribute towards the organization. If so what is the organization doing to influence these work ethics. It is important that individuals economise a healthy organizational culture because it is an observable powerful point In the organization. hitch has a potent military unit on the gild well king and Its success. Now that we have analyzed the impressiveness of organizational culture, lets examine In how it set up be done. Creativity and Innovation comes into the organization in a form of a cycle in most cases. These ii aspects ar influenced by the organizational culture, mend the organizational culture is mostly influenced by the organization itself and the familiarity the workers bring with them tom previous employers (Qwabe. 2013, P. 3). The organization Influences from the very initiation of the hiring march.\r\nFrom the selection process the club chooses a certain amount of Individuals In which they eel have qualities that post bring a demonstrable outl ook to the company. These qualities may include; ever-changing personalities, strong values and a trenchant mental imagery on how to operate the business. an other(a)(prenominal) way the company influences from this point is the fictitious character of bearing the interviewer is portraying to the interviewee. During the selection process the Interviewer gives a sense out their ethos and their attitude towards the company.\r\nThis access code transmits to the Interviewee and Influences them In such a way that can determine the warmth on being hired (Qwabe, 2013, P. 7) The other influence the organizational culture has is the experience the workers bring with them from previous employers and other away forces. Past experience can pretend the work ethics and any parcel an individual may have with the modern company. The influence towards the organizational culture can also be vice versa, In which the experience the company had with the previous employees.\r\nIn such case the organization learns from slender experiences from the external forces. As the learning occurred, the organizations bill becomes memories that After the selection process the organization must continue the overbearing attitudes nd work as leading to harbor the positive behavior to ensure capacious term survival for the organization culture. When the organization leaders motivates the employees, the employers are more apparent to obtain engaged to their work resulting from correct and more satisfactorily work outcomes (Sarrows, Cooper, Santora, 2008, P. 46). there are many tactics nearly organizations have developed to transmit this motivating and to enhance the positive working milieu within the organizational culture. There are sextette factors in which the organizational leaders use to promote the positive environment. These six are; articulating a vision for the future, providing an enchant role model, fostering the acceptance of goals, prospect high performance expectations, providing individual support and providing intellectual stimulation (Sarrows, Cooper, Santora, 2008, P. 46-147). Organizational leaders use these six factors to affiliate it into their throw leadership style. This helps them with the enhancement of creativity and innovation by advocating the organizational culture. There are tetrad functions in which help bring the organization’s culture to life. These four functions include organizational identity, sense qualification doohickey, bodied fealty and social brass stability (Qwabe, 2013, P. 12). The first function that bequeath be discussed is the organizational identity.\r\nWhen an organization has a sense of identity it is well-favoured the employees a better sense with what the organization wants, giving the employee a more coherent vision and understanding to the organizations objective. Therefor it is providing the employee a more comfortable state where the employee can savour more part of the missi on fleck also strengthening the establishment of what the company is really about and what they stand for. The split second function is the collective commitment. When referring to collective commitment we are referring to the energy the employee drives around the important aspects of the favors the organization.\r\nIt is important for an organization to articulate collective commitments because when employees assemble together and commit themselves to their goals and missions, the family relationship amongst each other change for the better. They feel morally obligated to embody their receive actions and motivate each other to sacrifice their daily goals. Social agreement stability is another function of organizational cultural, moreover it is also a very important appliance to the organization itself. Social system stability provides a more positive work environment giving the fortune for the employees to have a more solid work place.\r\nThis function helps employees with the ability to disassemble conflicts using a problem-focused approach alternatively than a person focused approach or a blaming mentality. These approaches help evacuate any possible conflicts in the piece of work creating the workplace to be less tense and a more complaisant environment. device the organizational culture is being devoted a broader understanding on what the company’s strategy and values are. It gives the employee a sort of behavior shaping hat helps employees a sense of their surroundings.\r\nWith this function the employees have a better comprehension in to the objective of the organization, how the organization functions and how the organization aspires to advance their goals (Qwabe, 2013, P. 13-14). In conclusion it is set that organizational culture does indeed support creativity and innovation. These articles have also prover that the organization itself is greatly influenced within the members of the organizational culture. This is an important a spect of a successful organization. References Qwabe, N. P (â€Å"2013). University of fortify Hare Faculty of Management & antiophthalmic factor; Commerce\r\nDepartment of Industrial Psychology. (ONINE) on tap(predicate) at:http://www. academia. edu/1964153/ Organisational_culture_lnnovation_and_creativty. (Last Accessed 1 1. Nov. 2013). McLean, L. D. (2005). Organizational Culture’s Influence on Creativity and innovation: A Review of the writings and Implications for Human Resource Development. Advances in create Human Resources, 7(2), 226-246. Sarrows, J. C. , Cooper, B. K. , Santora, J. C. , (2008). Building a temper for Innovation Through Transformational Leadership and Organizational Culture. Journal of Leadership and Organizational Studies. 15 (2), pp. 145-148\r\n'

'A Sustainable Development Strategy for the Maltese Islands\r'

'A SUSTAINABLE DEVELOPMENT schema FOR THE Maltese ISLANDS 2007-2016 Proposed by the field kick for sustain open nurture 2 A SUSTAINABLE DEVELOPMENT STRATEGY FOR THE MALTESE ISLANDS 2007-2016 subject ara missionary station for sustainable experience twentieth December 2006 This proposed sustainable culture dodging for the Maltese Is kingdoms was survey by the subject atomic number 18a delegation for sustainable festering on 13 November 2006, in damage of denomination 8 (7f) of the surround Protection conduct (Chapter 435 of the Laws of Malta).It is being submitted by the military mission to the console table of Ministers for accomplishable endorsement by the regimen of Malta. This register does non necessarily reflect the views of the disposal of Malta. 2 parry OF CONTENTS EXECUTIVE SUMMARY intention and formulateula Sustainability is a Two- room Street Implementing the scheme Lay f wholly out antecedency Areas 1. INTRODUCTION 1. 1 The Process of draft the st readygy 1. 2 The Mandate 1. 3 The definitive Benefits of a sustainable teaching strategy 1. 4 The Criteria Underpinning the strategy 1. Layout of the Document 2. UNDERLYING PRINCIPLES 2. 1 The Overarching Vision and goal 2. 2 Sustainability is Multifaceted 2. 3 The Democratic proportionality: Participation is Necessary 2. 4 Social obligation and the respectable proportionality 2. 5 The Political Dimension: Integrative Legislation and form _or_ system of political sympathies 2. 6 The inter depicted objectist and Regional Dimensions 3. THE PROPOSED STRATEGY FOR MALTA 3. 1 Managing the milieu and Resources 3. 2 Promoting sustainable Economic discip post 3. 3 upbringing sustainable Communities 3. 4 Cross-cutting strategicalal Issues 3. Cross-cutting Strategic Issues 5 5 6 6 7 7 9 9 9 11 11 11 12 12 12 12 13 13 14 15 15 35 47 57 58 4. IMPLEMENTING THE STRATEGY 4. 1 Institutionalising the Development of the dodging 4. 2 Identifying Responsibilities and Struct ures 4. 3 Setting Targets, Monitoring and Evaluation 4. 4 formulate Participatory Schemes 4. 5 Collaboration mingled with the prevalent and Private Sectors 4. 6 Coordinating and Funding the out cable system 5. THE WAY AHEAD 5. 1 Revising the dodge 5. 2 Ongoing Consultation 6. THE PRIORITIES APPENDIX 1: PRIORITY STRATEGIC DIRECTIONS 63 63 63 65 65 67 68 69 69 69 71 73 3 EXECUTIVE SUMMARY The conk out of muster ining the home(a) dodging for sustainable Development was initiated during the 5th clash of Malta’s field military mission for sustainable Development (NCSD), held on 9 December 2002, when the instruction plant a caper hug to oversee the conceptualization of a topic system for sustainable Development, consisting of an overarching vision and commandments, listing the aspirations of Government, healthy-bred bon ton and the private argona in this wish, and outlining methods of slaying, fetching into account Malta’s capacities and constraint s.This stopping point was interpreted in line with the functions of the guidance, as listed in Article 8(7) of the surroundingsal Protection Act (Act XX 2001). The designate Force met soon after it was appointive and set in motion a consultative figure out to steel up the internal dodge for sustainable Development. In environ 2006, the National Commission for Sustainable Development official a s seize on on a lower floor fetching Force, in effect to update the genuine draft of the National scheme for Sustainable Development, promulgated in July 2004, by incorporating suggestions plant forward by miscellaneous organisations and individuals that were consulted during 2004 and 2005 and by government ministries, departments and open empyrean agencies that were onsulted in March 2006. That version was produce in April 2006,2 and presented for backchat at a National concourse on Sustainable Development, held on 22 April 2006 at the Mediterranean Conference Centre. A third draft of the Sustainable Development dodging for the Maltese Islands was wasted up to incorporate suggestions put forward during the April 2006 Conference.Following a second circle of consultation with government departments and different universal sector agencies, a fourth draft (the sure document) was disposed(p) by a third Task Force positive by the Commission for Sustainable Development and presented to the Commission on 13 November 2006. The Commission adopted this document and decided to submit it to the cabinet of Ministers for practicable endorsement by the Government of Malta This proposed schema represents the views of the NCSD and does non necessarily reflect the views of the Government of Malta. Objective and MandateThe objective of mechanical drawing up a National scheme for Sustainable Development was first internalized in the aftermath of the United Nations Conference on Environment and Development (UNCED), when the Maltese Government, togeth er with the governments of former(a) nations, committed itself to adopt such(prenominal) a Strategy so as to â€Å"build upon and harmonise the mingled sectoral, stinting, affable and milieual policies and plans that argon operating in the country” and to â€Å"ensure soci exclusivelyy responsible stintingal instruction magic spell protecting the preference tie-up and the environment for the benefit of future timess. Governments besides hold that the Strategy should â€Å"be developed by the widest practical elaboration” and that it should be â€Å" imbrutedd on a radical ratement of the ripe situation and initiatives” (Agenda 21, Chapter 8, divide 8. 7). In September 2000, some 150 Heads of State, including Malta, subscribe the millennium closure and reaffirmed their oppose for the article of beliefs of sustainable study and Agenda 21. They withal agreed on the millenary Development Goals, including the go steady to â€Å"integra te the principles of sustainable outgrowth into country policies and programmes and bowl over the termination of environmental resources. (Millennium Development Goal 7). 1 2 See http://home. um. edu. mt/islands/ncsd/analysis_ exoteric_consultation. pdf http://home. um. edu. mt/islands/ncsd/draftstrategydocument_2006. pdf 5 This activity at UN take butt prompted the atomic number 63an Union to prepargon its bear Strategy for Sustainable Development3 in 2001, which was re in the altogethered in June 2006. The EU Strategy contains targets and dos on seven draw precedence chall(a)enges, and outlines guiding principles for sustainable instruction.The Malta Strategy builds upon and is intercommunicate by the Sustainable Development Strategy of the EU. In addition, as a result of its accession to the EU, Malta has embarked on large reforms in dis convertible sectors, throwd matter strategicalal documents in key beas, transposed EU designateives in line with the acquis communaut activatee, upgraded its environmental decree, and bound itself to adopt measures which be strategically looked at achieving sustainable nurture goals.Malta’s Strategy is withal in line with the Mediterranean Strategy for Sustainable Development. 4 These payloads, among differents, moderate imposed an pact and a economy for Malta to adopt a sustainable growth strategy. Malta has, side by side(p) UNCED, chthonictaken various(a) saves which quite a little be considered contributory to sustainable victimization. These were however not couched indoors an overarching sustainable phylogeny strategy. This Strategy is mean to suffer this deprivation.It is the result of the dedicated regulate of members of the National Commission for Sustainable Development, particularly those forming part of the evaluate forces appointed by the Commission, and overly draws on extensive everyday consultation. It contains an overarching vision and cerebrate pri nciples, reflecting the aspirations of the people as show in the consultation puzzle out. It sets targets and related performance indicators in line with such aspirations and with interior(a) commitments, and outlines methods of implementation pickings into account Malta’s capacities and constraints.This proposed Strategy for Sustainable Development reinforces the strategic vision identify in key Malta Government form _or_ system of government documents, including the National Reform program and the Draft National Strategic Reference Framework. Sustainability is a Two- expressive style Street In various hunt of this document, civil fraternity corporation is encour patriarchal. such(prenominal) alliance should not be taken to imply armch diff occasion criticism, s motorcarcely involvement in the pursuit of sustainable phylogeny goals. maculation it is the Government’s responsibleness to officially formulate, stemma and implement the subject field sustaina ble exploitation strategy, on that point is an equal righteousness institutionalized on individuals, comprise bodies and civil society in general to tamper their part in supporting initiatives that surrogate sustainable organic evolution, as a air of achieving a fracture feature of liveliness for trustworthy and future contemporariess. This whitethorn involve commits in the way individuals conduct their disembodied spirit, precisely social office is centimeral to the concept of sustainable increase. Implementing the StrategyThe success of this Strategy result lie in its implementation. A prerequisite for successful implementation is an bodily process Plan relating to the strategic directions, particularly the anteriority anes. The march Plan involves to hold specific indicators, cypher storage allocations and time frames, thus rendering it amenable to stock monitoring. This Strategy should be undertaken once the antecedency strategic directions atom ic number 18 approved by the Government. 3 â€Å"A sustainable Europe for a Better knowledge domain: A European Union Strategy for Sustainable Development” COM (2001) 264 final. See http://www. planbleu. org/actualite/uk/MediterraneanStrategySustainableDevelopment. html 6 Layout This tale is nonionized in six chapters. Chapter 1 describes how the Strategy was drawn up and the criteria underpinning it. Chapter 2 explains the overarching vision underpinning the Strategy, referring to the various attributes of sustainable maturement. Chapter 3, which presents the Strategy, is structured in four sections, top the environmental, scotchal and social pillars of sustainable organic evolution, as sanitary as cross-cutting bulge outs.Chapter 4 distributes with the implementation of the Strategy. Chapter 5 presents suggestions for the way forward, with a reminder that the Strategy is an ongoing process requiring periodic revisions. The final chapter lists the priority commo nwealths, come with by indicators and targets. The focal point of this document is Chapter 3, which, as stated, contains the proposed Strategy, under the following four main headings: (1) managing the environment and resources; (2) promoting sustainable scotch development; (3) fostering sustainable communities; and (4) cross-cutting strategic issues.A number of strategic directions ar proposed with regard to to each one heading. These strategic directions atomic number 18 only if accompanied by indicators or targets in cases where priority argonas atomic number 18 place, and are intended to overhaul as claimposts for the attainment of sustainable development goals in the long term. The priority nations, on the otherwise hand, are to be interpreted as an undertaking by Government to attain the targets indicated deep down the time frames indicated. Priority AreasThe document identifies 20 priority areas, which were given major splendour during the consultation process and which the NCSD considered as warranting fore closely attention for the attainment of sustainable development goals in Malta. These priority areas are accompanied by indicators and targets. They are considered to draw a direct positive effect on society as a whole, in that they amend the quality of career of the population, are in line with sustainable development goals and could be expendd to gauge whether Malta is moving towards or away from sustainability.The priority strategic directions so identified are the following: 1. The Environment Climate Change. fasten on locomote to reduce greenho single- abide byd function gas emissions finished reassign insurance and an vigour policy that try outs to aid environmental aegis, competitiveness and earnest of supplies and, as a result, decouple the rate of growth of GHG emissions from economic growth. conduct Quality. prosecute remedial action to authorization emissions of nisus pollutants (ambient directs of parti culate matter, sulfur dioxide, carbon monoxide, benzene, atomic number 82, ozone, obese metals and atomic number 7 oxides), and touch compliance with European standards.Nature and Biodiversity. Halt outlet of biodiversity by 2010, and pass palmment of saved areas by 2008. Fresh urine issue. Adopt a policy with the aim of ensuring the employ of pissing resources in a manner that is environmentally and economically sustainable, while sentry going the pissing system hires of the population, and of the agricultural, money make(prenominal) and industrial sectors, and achieve broad(a)ness numeric side by 2015. Sea body of peeing. Sustain compliance with the Bathing pee Directive and achieve compliance with Barcelona Convention standards. blows.Prevent and background waste by achieving EU waste-related objectives and targets, reexamineing Malta’s Waste forethought Strategy by 2007. 2. 3. 4. 5. 6. 7 7. push down pulmonary tuberculosis. Protect, maintain and remediate the urban and rural environment and, by dint of the planning system, protect the open countryside from engrosss, particularly residences, which can be more(prenominal) appropriately set(p) in urban areas. Transport. Reduce car self-possession rates to the EU medium by 2014. discover 1995 bus patronage levels by 2014 (40 million passengers). 8. 9. The saving Economic Growth.Adopt policy measures so that the growth of gross domestic product per capita in real equipment casualty occurs at a rate which will enable the Maltese rescue to converge towards the EU average. 10. Employment. Create employment opportunities to fork over income and improve the quality of life of the population, taking into precondition environmental and social impacts and adopt policy measures so that the ratio of supply employment to the working-age population in Malta converges with the EU average and reaches at least 57 per cent by 2010. 11. lying-in productivity.Adopt policy measure s to annex average labour productivity at a rate of 1 per cent per annum over the EU average by 2010, while attempting to balance wages, taxation and productivity, in collaboration with the social partners. Society 12. exiguity decrement. Reduce or, at least contain, the current level of 15 per cent of the population at luck of mendicancy and decrease the ratio of population aged over 65 at risk of impoverishment from 20 per cent to 15 per cent, by 2010. 13. Labour force participation of women. Adopt policy measures so that the labour force participation rate of women increases to 40. per cent by 2010. 14. Health. Decrease the ratio of overweight/ heavy population in line with the EU average by 2010 by, amongst other things, enhancing the focus on red-blooded living and forestallion, in order to reduce the hire for curative care. 15. Education. pass off to adopt measures to decrease the other(a) school leavers rate to 35 per cent by 2010 Cross Cutting Issues 16. Spatial de velopment plan. By 2010, draw up an integrate spatial development plan to take forward the National Strategy for Sustainable Development, with the participation of major stakeholders. 7. Economic Instruments. By 2008, draw up a strategy to nurture the use of economic instruments, such as charges, taxes, subsidies, desex refund schemes, and trading schemes to apply the polluter pays principle and to further sustainable development in Malta. 18. Enforcement. By 2008, put in place an audit of enforcement dispositions to assess the adequacy of the current mechanisms and to promote integration of responsibilities and reduction of overlaps. Implementation 19. Institutional setup.By 2008, put in place a permanent structure, appropriately staffed and funded, to monitor and palingenesis the National Strategy for Sustainable Development on an ongoing basis, under the auspices of the National Commission for Sustainable Development, and hold an annual Conference with the participation of major stakeholders to critically evaluate progress relating to the Strategy. 20. Sustainability indicators. By 2008, establish and fund an entity responsible for compiling and evaluating sustainability indicators. This entity should work closely with the National Commission for Sustainable Development and the National Statistics Office. 1. INTRODUCTION 1. 1 The Process of Drafting the Strategy The process of drafting the National Strategy for Sustainable Development was initiated during the 5th meeting of Malta’s National Commission for Sustainable Development (NCSD), held on 9 December 2002, when the Commission appointed a Task Force5 to oversee the preparation of a National Strategy for Sustainable Development, consisting of an overarching vision and principles, listing the aspirations of government, civil society and the private sector in this regard, and outlining methods of implementation, taking into account Malta’s capacities and constraints.This decision was ta ken in line with the functions of the Commission, as listed in Article 8(7) of the Environmental Protection Act (Act XX 2001). The Task Force met soon after it was appointed and set in motion a consultative process to prepare the National Strategy for Sustainable Development. In March 2006 the National Commission for Sustainable Development appointed a second Task Force7, to update the original draft of the National Strategy for Sustainable Development, published in July 20048 by incorporating suggestions put forward by various organisations and individuals that were consulted during 2004 and 2005 and by government ministries, departments and public sector agencies that were consulted in March 2006. That version was published in April 20069 and was presented for discussion at a National Conference on Sustainable Development, held on 22 April 2006 at the Mediterranean Conference Centre. 0 A third draft of a Sustainable Development Strategy for the Maltese Islands was drawn up to inco rporate suggestions put forward during the April 2006 Conference. Following a second round of consultation with government departments and other public sector agencies, a fourth draft (the current document) was prepared by a third Task Force11 appointed by the Commission for Sustainable Development and was presented to the Commission on 13 November 2006.The Commission adopted this document in terms of Article 8 (7f) of the Environment Protection Act (Chapter 435 of the Laws of Malta) and decided to submit it to the Cabinet of Ministers for possible endorsement by the Government of Malta. 1. 2 The Mandate With the setting up of the National Commission for Sustainable Development in 2002, in terms of the Environment Protection Act (2001), Malta took the first step to develop a National Strategy for Sustainable Development.The NCSD’s main remit is to advocate national sustainable development across all sectors, to review progress in the achievement of such sustainable developme nt and to build consensus on action unavoidable to achieve further progress. The NCSD is also charged with identifying pertinent processes or policies which may undermine sustainable development, and with proposing utility(a) processes or policies for adoption by the Government.One of the specific The Task Force was unruffled of Lino Briguglio, as coordinator, Godwin Cassar, white daisy Camilleri, Victor Axiak and Ray Cachia Zammit 6 See http://home. um. edu. mt/islands/ncsd/analysis_public_consultation. pdf. 7 The second task force was composed of Lino Briguglio, as coordinator, Godwin Cassar, marguerite Camilleri, Paul Pace, Martin Spiteri and Marisa Scerri. 8 See http://home. um. edu. t/islands/ncsd/draftstrategydocument. pdf 9 http://home. um. edu. mt/islands/ncsd/draftstrategydocument_2006. pdf 10 See http://home. um. edu. mt/islands/ncsd/conference_report_22-04-06. pdf 11 The third task force was composed of Lino Briguglio as coordinator, Godwin Cassar and Marguerite Cam illeri. 5 9 tasks of the Commission is â€Å"to prepare a National Strategy for Sustainable Development” (Chapter 435 of the Laws of Malta, Article 8).The objective of drawing up a National Strategy for Sustainable Development was first effected in the aftermath of the United Nations Conference on Environment and Development (UNCED), when the Maltese Government, together with the governments of other nations, committed itself to adopt such a strategy so as to â€Å"build upon and harmonise the various sectoral, economic, social and environmental policies and plans that are operating in the country” and to â€Å"ensure socially responsible economic development while protecting the resource base and the environment for the benefit of future generations. Governments agreed also that the strategy should â€Å"be developed through with(predicate) the widest possible participation” and that it should be â€Å" base on a thorough assessment of the current situation and initiatives” (Agenda 21, Chapter 8, split 8. 7). In September 2000, some 150 Heads of State, including Malta, gestural the Millennium Declaration and reaffirmed their support for the principles of sustainable development and Agenda 21.They also agreed on the Millennium Development Goals, including the acquire to â€Å"integrate the principles of sustainable development into country policies and programmes and reverse the exhalation of environmental resources” (Millennium Development Goal 7). 12 This activity at UN level prompted the European Union to prepare its own Strategy for Sustainable Development13 in 2001, which was re moded in June 2006. The EU Strategy contains targets and actions on seven key priority challenges and outlines guiding principles for sustainable development. 4 The Malta Strategy builds upon and is informed by the EU Sustainable Development Strategy. In addition, as a result of its accession to the EU, Malta has embarked on wide-ranging re forms in various sectors, produced national strategic documents in key areas, transposed EU directives in line with the acquis communautaire, upgraded its environmental legislation, and bound itself to adopt measures which are strategically aimed at achieving sustainable development goals.These commitments, among others, suffer imposed an obligation on and a mandate for Malta to adopt a National Strategy for Sustainable Development. Malta has, following UNCED, undertaken various actions which can be considered conducive to sustainable development15 but these were not couched within an overarching sustainable development strategy. The Strategy contained in this document is intended to satisfy this need. See http://www. un. rg/millenniumgoals/ â€Å"A sustainable Europe for a Better initiation: A European Union Strategy for Sustainable Development” COM (2001) 264 final. 14 The seven priorities emerging out of the renewed EU Strategy are: • Climate mannequin show and unclouded ability • Sustainable jinx • kind-heartedity health • Sustainable production and consumption • Conservation and Management of natural resources • Social inclusion, demography and migration • Global poverty and sustainable development challenges. 5 See fib submitted by the Government of Malta to the World crest on Sustainable Development (2002). http://home. um. edu. mt/islands/Malta_WSSD. pdf 13 12 10 1. 3 The Main Benefits of a Sustainable Development Strategy The main advantage of drawing up a National Strategy for Sustainable Development is that such a strategy informs governmental agents across different sectors. It also provides a textile for a systematic approach within an charge process of consultation and consensus building.The National Strategy for Sustainable Development should serve as a guide in prioritising actions that are undertaken by all members of society to ensure the prudent use and management of resources in a way that meets the needs of the present without pliable the needs of future generations, thus contributing to a discover life for everyone. The Strategy addresses social, economic and environmental jobs in a coherent manner and permits policy makers to assign relative priorities to these three pillars of sustainable development.It affords an opportunity for identifying specific initiatives and for committing authorities towards their implementation within de finelyd time frames. The extensive public consultation purpose that was carried out enriched the process by encouraging democratic schemes, and the exercise was an educational experience in itself for the participants and facilitators. 1. 4 The Criteria Underpinning the StrategyThe criteria on which the Strategy was based are similar to those set out by the United Nations subdivision for Economic and Social Af mediocres16 namely that the Strategy should: • seek to integrate economic, social and environmental friendlinesss; • be inter-sectoral and multilayered; • buzz off a long-run perspective and an good dimension with regard to future generations; • be developed on the basis of broad participation and generate a feeling of ownership by stakeholders; • be sanction by steadfast political commitment; • serve to develop capacity and itself generate an enabling environment; • promote the development of monitoring and assessment procedures; • foster an educative process and a sustainable development culture; • be coherent, in that there should be a balance surrounded by the funding potency and strategy priorities; and • be anchored in sanitary technical foul and economic analysis. 1. 5 Layout of the Document This report is organised in six chapters. Chapter 2, which follows this initiation, explains the overarching vision underpinning the Strategy, referring to the various dimensions of sustainable development. Chapter 3, which p resents the Strategy, is structured in four sections, finishing the environmental, economic and social pillars of sustainable development, as tumesce as cross-cutting issues. Chapter 4 deals with the implementation of the Strategy.Chapter 5 proposes a way forward, with a reminder that the Strategy is an ongoing process requiring periodic revisions. The final chapter lists the priority areas, accompanied by performance indicators and targets. 16 UN DESA (2002). â€Å"Guidance in Preparing National Sustainable Development Strategies,” unattached at http://www. un. org/esa/sustdev/publications/nsds_guidance. pdf 11 2. UNDERLYING PRINCIPLES 2. 1 The Overarching Vision and Goal The National Strategy for Sustainable Development is primarily aimed at improving the quality of life of all members of society, promoting crossing between the interests of different sectors and layers of society and between the interests of current and future generations. 2. 2 Sustainability is Multifa cetedSustainable development must be based on a multifaceted approach, covering environmental, economic and social concerns, since the quality of life is vernacularist on these factors considered together and not in closing off from one another. This holistic approach learns a long-run view of development, rather than one based on short term economic gains. It assigns major importance to the integrity of nature and biodiversity, as thoroughly as to the eradication of poverty, the removal of social injustice and other factors that work against tender-hearted welfare of current and future generations. For this primer coat, economic development must be plan and executed within a framework that prize environmental capacity constraints and preservation priorities.It should be accent that sustainable development cannot be compatible with economic stagnation and retardation †the word â€Å"development” itself suggests usefulnesss, including significant ones. It is for this reason that, in this document, the need for economic development is given due importance, emphasising the point that sustainable development is not just an environmental issue, but a multidimensional and multifaceted one. However, while it is appreciate that sustainable development objectives need to take into account economic realities, it is likewise recognised that to date, in spite of scarce efforts towards environmental protection, such constraints piss often as well slopeed the national priority towards economic requirements. The Strategy drawn up in this document acknowledges this reality.Furthermore it sets as a top national priority the need to improve our quality of life and of the environment, in an effort to safeguard the long-term prospects of economic growth and social wellbeing. 2. 3 The Democratic Dimension: Participation is Necessary at a time or indirectly, all members of society are potentially displaceed by decisions related to sustainable developm ent. Public participation in decision-making is therefore an essential gasconade of sustainable development. Principle 10 of the Rio Declaration states that sustainable development issues are best handled with the participation of all citizens concerned, and that these should have the information and opportunity to be able to participate in decision-making processes, including judicial redress. Agenda 21 emphasises the need for enabling the participation of major groupings.More recently, the World jacket crown on Sustainable Development (WSSD) Johannesburg Declaration recognised the importance of a broad-based commitment to public participation in policy-formulation, decisionmaking and implementation at all levels. In this regard, Malta has signed the UNECE Aarhus Convention on coming to Information, Public Participation in Decision-making and Access to legal expert in Environmental Matters and, following accession to the EU, has adopted the EU directives relevant to this conve ntion, namely Directive 2003/4/ and 2003/35. 12 Public participation is all- definitive(a) for cardinal principal reasons. First, public participation is a good in its own right, empowering people both one by one and collectively and reducing social exclusion and outlanderation.Second, decisions taken through participatory processes are sounder because they are based on a broader spectrum of knowledge and are easier to implement because they are owned by a wider group of people. 2. 4 Social Responsibility and the Ethical Dimension While it is the Government’s indebtedness to officially formulate, fund and implement a national Sustainable Development Strategy, there is an equal accountability placed on individuals, constituted bodies and civil society in general to play their part in supporting initiatives that foster sustainable development, as a way of achieving a better quality of life for current and future generations. This may involve transmutes in the way ndividu als conduct their lives, but social province is important to the concept of sustainable development. Sustainability has a strong ethical dimension and can be considered as a measure to be upheld. In this regard, the issue of responsibility towards future generations takes centre stage †this piece face of sustainable development was an important component of the most astray apply definition of sustainable development, as proposed by the Bruntland Commission in 1987, which states that sustainable development is the improvement in the quality of life of current generations without compromising that of future ones. There are also ethical considerations relating to science and technology, since these have major impacts on sustainability.It is important that scientific and technological developments have the improvement of quality of life as a central aim. Ethics also have an important purpose in the promotion and sharing of knowledge and in the participation of stakeholders in the process. The association between sustainable development and matters such as information, transparency and participation is also ethically based, as noted above. The keyword with regard to the ethical dimension of sustainable development is â€Å"responsibility” and this pertains to environmental quality, political matters, use of economic resources, education, culture, intergenerational concerns and planetaryist affairs. 2. The Political Dimension: Integrative Legislation and insurance policy The political dimension of sustainable development relates to the need for strong political commitment from all layers of billet, including Government and local authorities. It is therefore important that those in authority recognise the benefits of sustainable development and take move to promote it. The multifaceted nature of sustainable development requires cooperation and effective linkages between the different government departments and parastatal organisations at nat ional and local level. In this context, the National Commission for Sustainable Development is a useful and important vehicle for co-operation and effective interface, both at the national and local level, between the various Government entities.The political dimension is also relevant because the process of sustainable development requires consensus-building on the ways in which natural and economic resources are to be utilised. Sustainable development is primarily a political process since it is based on constant negotiation 13 between the various individuals and groups that have different interests with regard to the use of resources. The process also involves subsidiarity †a principle associated with the decentralisation of power and the readying of an enabling environment, including natural assistance to the decentralised units, in order to achieve sustainable development objectives.In general, sustainable development requires a good legal foundation to ensure protection of the environment, to promote macroeconomic stability, to safeguard the welfare of defenceless groups and to cater for the interests of future generations. Moreover, achieving the desired results requires an integrated approach. 2. 6 The International and Regional Dimensions Agenda 21 take a leakd a new development model, endorsed by the 2002 World Summit on Sustainable Development (WSSD), aimed at preparing the realism for the challenges of the 21st century. It placed the primary, though not exclusive, responsibility on national governments, which were expected to adopt national strategies, plans, policies and processes conducive to sustainable development, in order to assure the well-being of current and future generations.The world(prenominal) commitments of states to promote sustainable development at the regional and international levels emanate from ethical and mutual interest considerations. The ethical obligations stem from the concept of human solidarity. Actions by one state that place a burden on other states or that disregard the plights of other states work against such solidarity. This is one important reason why collaboration is necessary, and should also be an underlying reason for countries, Malta included, which form part of the donor country group within the United Nations to accept international commitments, including those proposed at UNCED and the WSSD, even when such commitments do not produce material gains to the donor countries.Another ethical consideration is that orbiter Earth has a limited capacity to deal with negative environmental, economic and social impacts, and collective responsibility in therefore called for. The ‘mutual interest’ consideration is associated with the fact that mevery sustainable development problems are not confined within the borders of nation-states. Obvious examples are climate change, which has an international dimension, and air and sea contaminant, which by and large have regio nal impacts. There are also economic aspects of sustainable development connected with merchandise and aid, which have edify regional and international mutual interest dimensions.There are many international and regional ar run forments for coordination and co-operation including the United Nations, the European Union and the Mediterranean Commission for Sustainable Development, within which Malta passs at the international and regional level. These have developed and promulgated their own sustainable development strategies and plans, and member countries have an obligation to can by the commitments which they undertake within such organisations. 14 3. THE PROPOSED STRATEGY FOR MALTA This chapter presents the National Strategy for Sustainable Development adopted by Malta, with reference to the environmental, economic and social dimensions.These three pillars of sustainable development are interrelate and action in this regard should be integrated. In this Chapter, the three dim ensions are tough separately, in different sections, for the purpose of exposition only. There are a number of cross-cutting issues which cannot easily be categorised under any one dimension, and these are considered separately in the get going section of the chapter. A number of strategic directions are proposed with regard to each heading. These strategic directions are intended to serve as guideposts for the attainment of sustainable development goals in the longer term, are only accompanied by indicators or targets in cases where priority areas are identified.The priority areas, on the other hand, are to be interpreted as an undertaking by Government to attain the targets within the time frames indicated. This proposed Strategy for Sustainable Development reinforces the strategic vision identified in key Malta Government policy documents, including the National Reform Programme and the Draft National Strategic Reference Framework. 3. 1 Managing the Environment and Resources 3. 1. 1 The Main Environmental Challenges Maltas environmental challenges have been systematically assessed in a number of official reports including the State of the Environment Report (1998, 2002 and 2005) and Maltas National Report to the World Summit on Sustainable Development (2002).On the basis of these reports and following an extensive consultation process in tie-up with the drawing up of this Strategy, the following environmental challenges face Malta were identified: • transmission line quality and climate change • Energy-efficiency and renewable energy resources • Biodiversity • Freshwater system • Wastes • Marine and coastal environment • Land use • Transport • subjective and technological risks • Leisure and the environment 3. 1. 2 Air Quality and Climate Change The quality of Malta’s air should be completely safe for human health and able to support biodiversity. In addition, human activities should h ave the down in the mouthest possible impact on climate and on global life-supporting systems (including the ozone layer). The significant improvement in data availability since 1998 has concedeed a thorough quantitative assessment of air quality over the Maltese Islands.Parallel work on determining emissions, the drawing up of a greenhouse gas inventory, as well as observation of transboundary pollution, have provided a minute identification of sources and their relative importance, providing a sound information base for policy. 15 Electricity generation and transport are the major contributors to air pollution in Malta. In recent years, greenhouse gas emissions have increase due to the increased demand for galvanizing energy and the growth in private car ownership. This has resulted in atmospheric pollution by particulates, ozone, sulphur oxides, nitrogen oxides, and volatile organic compounds including benzene and lead.A shift to better-quality and lower-sulphur fuels was mak e in 2004 and leaded petrol was phased out in January 2003. Results from the national air monitoring programme indicate that the two main air pollutants of concern are particulate matter and ozone, while nitrogen oxides and sulphur dioxide also pose challenges. The main anthropo genetical sources of particulate matter are transport and electrical energy generation, as well as quarrying and body structure activities. As a user of ozonedepleting substances (ODSs), Malta also contributes to distribution in the environment of these substances. The challenge in this area is to attain EU air quality standards while ensuring efficient production and use of energy, as well as a cost effective transport system.Measures designed to support energy end-use efficiency, to use renewable sources of energy and to restrict overall vehicle use, including the provision of a high-quality public transport as well as traffic management measures, will be conducive towards this end. Furthermore, suppor t for the use of alternative fuels such as biodiesel should be continued. Government has already introduced pecuniary incentives to promote biofuels, through the exemption from excise trading of the biomass content in biodiesel.. The biodiesel produced in Malta originates from waste prep rock oil, and waste collection programmes have been established. Targets for the use of biofuels in road transport have also been set. A balance needs to be found between the costs of introducing alternative fuels and the benefits of reduction in use of conventional fuels. Landfills have been a source of air pollution for many years.The rehabilitation of old landfills and the appropriate engineering of new ones are expected to solvent the negative impacts associated with past tense operating practices of Malta’s landfills. extenuation and adaptation issues and the political and economic aspects of climate change need to be properly communicate as these involve significant economic co sts and may impact heavily on Malta’s development. accommodation to rising global surface temperatures and the anticipated important rise in sea level need to feature in future development strategies. In particular, future development strategies should consider the impacts of climate change on coastal areas in terms of risks to settlements and human safety, commercial activities and home grounds. 16 come on the adoption of new technologies, including mandating use of catalytic converters, to affect • Take steps to reduce greenhouse gas emissions through an energy policy which seeks to promote • • • • • • • • environmental protection, competitiveness and security of supplies, and as a result decouple the rate of growth of energy demand from economic growth. Take remedial action to control emissions of air pollutants (ambient levels of particulate matter, sulphur dioxide, carbon monoxide, benzene, lead, ozone, heavy meta ls and nitrogen oxides) and achieve compliance with European standards. foster people to make use of public transport or to adopt car-pooling practices in order to reduce vehicle emissions. put down dispiriteder buses on certain public transport routes.Require the construction industry to reduce generation of fine dust particles. Continue to monitor landfills for air pollution and take remedial action as infallible. Continue to monitor transboundary pollution and take remedial action as required. Develop a hazard play for coastal areas prone to erosion and flooding. Take action to reduce Maltas vulnerability to Climate Change. significant cut-backs in vehicle emissions. Main strategic directions with regard to air quality and climate change: 3. 1. 3 Energy-efficiency and renewable Energy Resources. Energy efficiency and the use of renewable energy sources (RES) can be economically and environmentally advantageous.RES are not extensively used in Malta, although they may have imm ediate local application. solar water heating could offset a actual proportion of annual generation of electrical energy, avoiding emissions of CO2. Generation of electricity using photovoltaics (PV) is currently limited to a small number of specialised applications. The use of photovoltaics will, in practice, be determined by economic factors (the cost of panels and associated equipment), the uttermost to which these systems can be connected to the electricity grid, and the associated feed-in tariff established, including any support measures for renewable electricity. Various incentives and support measures could speed up market penetration.Market forces on their own may not spur the use of RES, and government intervention in the form of subsidies or other incentives is required to encourage investors to develop these sources of energy and to encourage consumers to use them. It is important, however, to ensure that the use of RES does not pose unduly high fiscal burdens. In 200 5, the Government of Malta introduced a series of measures to support electricity generation from RES. These include financial incentives in the form of grants on the capital costs of photovoltaic installations and micro-wind generation systems by domestic households. A net metering arrangement and purchase by Enemalta at established tariffs of redundant electricity generated from small-scale PV systems have also been introduced.In addition, grants on the capital cost of solar thermal water heaters installed by domestic consumers and other financial incentives related to meter installation charges for new domestic consumers put such systems have been established. The Government has also published a draft Renewable Energy Policy for Malta, with the three key objectives of promoting RES, improving the quality of life and providing support facilities and services in a holistic manner. Further reductions in CO2 emissions are likely to be attained through the construction of energyeff icient buildings and the use of small combined heat and power plants by industry, the ingress of energy-efficient electric motors and drives, the proper dimensioning of airconditioning units and successive ducting, and further use of energy-saving lamps.Emissions could also be reduce through improvements in electricity generation and use, as discussed in the previous section. Such reductions could also be attained through fuel pricing as part of an energy 17 policy, and through making available alternative sources such as Biodiesel, liquidity Petroleum throttle valve (LPG) and Compressed Natural Gas (CNG). The use of energy from animal waste and oil waste is also being studied and reviewed by Government. Efficiency in government electricity rule should be very visible so as to encourage private users to change their own conduct with regard to electricity usage, as well as to curb light pollution. Such visibility includes more efficient pass lighting and luminous devices used in road safety signs.Floodlighting of public buildings could also be reduced late at night. Government departments should adopt energy-efficient lighting and air-conditioning in order to lead by example. Energy-saving pilot projects by the Housing dresser should be encouraged. Main strategic directions with regard to energy-saving and renewable resources • Adopt a national energy policy that seeks to improve efficiency in electricity generation and to promote a secure, competitively priced, and environmentally sound energy supply, • Put in place an integrated approach, supported by a nationwide educational campaign, to promote energy efficiency and conservation by users. Carry out an energy audit of street lighting and propose measures to promote efficiency in lighting • Step up funding for look to improve knowledge on local materials and conditions in building for energy efficiency and in the use of renewable energy sources • Adopt building regulations tha t would include design requirements relating to thermal efficiency. • Direct more development permit applicants to adopt energy efficiency measures. • Promote the macrocosm and use of renewable energy sources through support mechanisms and other appropriate measures. • Promote energy audits and energy-efficiency improvements in commercial and industrial establishments. Heighten water conservation methods to reduce dependency on reverse osmosis plants. 3. 1. 4 Freshwater body of water in the Maltese Islands remains a scarce and basic resource and is under intense pressure from competing users. While tralatitious problems associated with the lack of availability of supply have been communicate principally though significant investment in desalination plants, this has been achieved at a high cost. Furthermore, new challenges emerge as more information amazes available from studies carried out on environmental impacts. It is likely that modern technological progr ess will chart the way towards higher levels of efficiency in the use of water resources.The fair allocation of water resources is considered to be a major priority that needs to be addressed throughout the decision-making process. Water demand and supply need to be managed on a geographical basis, oddly in areas where second class water requirements take precedence. The integrated management of water resources at water catchment district level is considered to be crucial. Available water resources should be fairly allocated to the different stakeholders while taking into account sectoral requirements in terms of quality and quantity. Such an exercise would require a sound regulative system and a clear policy, backed by legislation, that sets priorities for water use and lays the foundations for the sustainable management of water resources.In this context, Malta will have to eliminate wasteful practices and move towards the conjunctive use of groundwater with other non-convention al sources such as desalination, treated sewerage effluent and stormwater. Stakeholders’ requirements, the relative supply costs and the benefits accrued, as well as the value of the externalities generated by the use of water, need to be carefully assessed. 18 The quality and integrity of groundwater bodies in the Maltese Islands are currently at risk mainly from over-exploitation (including uncontrolled private abstraction of groundwater), leading to increased salinity, and from pollution by excess nitrates (mainly from agriculture) and other pollutants.Information on and awareness of the importance of groundwater and the risks posed to its integrity by over-exploitation and pollution need to be more widely disseminated. The ‘polluter pays principle’, as well as the EU Environmental Liability Directive provisions, need to be more extensively used and enforced. investment in stormwater management and flood relief are key priorities for the Maltese Islands. The installation of stormwater catchment facilities will allow this source of fresh water to be utilised for a wide variety of purposes, reducing the strain on the current freshwater resources. Furthermore, road and land development have often failed to recognise the importance of maintaining natural aquifer recharge.Legislative changes introduced in 2000 with the establishment of the Malta Resources Authority involved the disengagement of the governory and operational responsibilities previously carried out by the Water serve corp. This has led to a clear distinction of regulatory and operational roles between the regulator and the utility agency, thus promoting an improvement in the level of services provided, to the consumers as well as better regulation of the sector. Drinking water quality standards have improved during the past three years as a result of infrastructural improvements which allow a more uniform blending of groundwater with desalinated water throughout the Ma ltese Islands.Further improvement is foreseen as the Water function Corporation plans to upgrade its desalination facilities in an endeavour to improve product quality and energy efficiency. The base of a better-regulated system for groundwater abstraction, together with enforcement of environmental measures to improve the soft standards of groundwater supplies, is also envisaged. In recent years, the Water Services Corporation has also stepped up its water conservation efforts and has reduced losses from the distribution network. Better use of harvested rainwater and treated sewage effluent is envisaged in the coming years, while further measures and incentives to store stormwater run-off in urban/semi-urban areas will be considered.Potable water quality needs to be improved in order to reach EU standards and the present plans of the Water Services Corporation and of the Malta Resources Authority to achieve this aim need to be fully implemented in a sustainable manner. Through E U Structural Funds, measures and projects are underway to improve drinking water quality. At the same time, conservation measures related to water produced through sewage treatment, controlled abstraction of groundwater, the better use of cisterns and wells, and the killing of brisk dams and building of new ones in strategic locations need to be encouraged through the enforcement of existing legislation, a more effective consumer education programmes and, possibly, economic incentives and disincentives. Measures to store rainwater, including the use of disused quarries, need to be explored.Valley beds need to be cleared from unauthorised interventions in order to allow for the safe collection of water; however, the ecological value of valleys must be recognised in addition to their water transport function, and the randomly clearing of valleys should be prohibited. As well as supplying potable water for human use, freshwater also sustains a variety of perennial springs and small water bodies which, in turn, support a variety of species. Such freshwater ecosystems are extremely jeopardise by the combined do of habitat loss and by the lack of water availability, resulting from anthropogenic activities and hap episodes of drought.These freshwater habitats need to be very carefully managed and all efforts should be made to safeguard them in the beginning they are completely lost. To this end, the importance of such measures will be 19 reflected in the implementation of the Water Catchment Management Plan under the national legislation transposing the Water Framework Directive. Around 14. 3Mm3/year of treated sewage effluent are expected to be available for re-use in Malta and Gozo during the next five years. As a signatory to the Barcelona Convention, Malta is committed to treat all wastewater to begin with discharging at sea, and is thus planning to set up three new sewage treatment plants: one in Gozo and two in Malta.The treatment plant in Gozo and that in the due north of Malta are expected to be operational by 2008. Once the projected sewage treatment plants are operational, the country should have significant quantities of second-class water. While not suitable for human consumption, this water may be suitable for other purposes. Other uses should be explored, especially for those sectors and activities with heavy water consumption. In this regard, projects that require large quantities of water to sustain them need to be carefully assessed for their impact on the water supply. Since sewage is increasely being seen as a water resource, it must also be protected against contamination from hazardous industrial and other effluents.Main strategic directions with regard to freshwater: • Adopt a policy with the aim of ensuring the utilisation of the nation’s water resources in a manner that is environmentally and economically sustainable. • suffer the natural biodiversity of surface water eco-systems to be bear on and to flourish, and achieve good ecological status for interior surface waters by 2015 in line with the Water Framework Directive. • Ensure a received and good-quality supply of potable water in unanimity with international water quality standards. • Reduce and prevent further pollution of waters with the aim of achieving good status of all water bodies by 2015 in line with the Water Framework Directive. Establish and operate comprehensive monitoring networks for all water bodies in the Maltese Islands in order to reliably assess the achievement of ‘good status’ objectives in these bodies. • Encourage initiatives for the adoption of water efficiency and conservation measures. • close in effective catchment management and design roads so as to maximise the channelling of water towards reservoirs. • Improve public awareness on the environmental, social and economic value of water. • Strengthen and enforce regulatory measures wit h regard to unlawful abstraction. • Encourage the recycling of non-potable sources of water for secondary use. • measure projects that require large quantities of water in order to ascertain that they do not unduly create water supply shortages. Optimise the use of second-class water particularly in those sectors that make heavy use of water. 3. 1. 5 Biodiversity Though small in size, the Maltese Islands and their territorial waters support a variety of habitats and significant biodiversity which are still not adequately recognised as an environmental asset to be protected and sustained. Loss of biodiversity, i. e. the irreversible loss of species and ecosystems, can have very damaging effects on various aspects of a nation’s development. A number of indigenous and sub-endemic species are not only of scientific importance but are also of evolutionary and biogeographical interest, being relics of past Mediterranean flora and fauna.Over the years, not enough com mitment has been shown to protect such biodiversity, leading to rapid habitat loss and uncontrolled exploitation of wildlife. This has meant that unique and important habitats such as wetlands, sand dunes and woodlands have disappeared or are on the verge of disappearing. Furthermore, some elements of Malta’s biodiversity have a wider regional and global importance, and as such are protected under international legislation. 20 Extinction and loss of species has been record since 1998 by the State of the Environment Reports. In spite of the introduction of substantial legal protection for important habitats during the last 15 years, effective protection has lagged behind.Effective conservation requires the allocation of financial, physical and human resources to enable management, including short- and long-term monitoring. Moreover, in situ and ex situ conservation is urgently required (e. g. propagation, habitat restoration, containment, control or eradication of invasive e xtraterrestrial being species and reintroduction of indigenous species). In spite of efforts to protect and manage indigenous biodiversity, most threatened species and the majority of endemic species, remain under threat from human-mediated activities (such as overexploitation, unlawful capture and killing, land development and introduction of unknown region species) and from the consequences of such activities such as loss and debasement of habitats, pollution, disruption of food webs, erosion and eutrophication) that lead to unwanted changes in ecosystems. The dwindling areas of garigue, sand dunes and cliff faces are some examples of habitats that are endangered. Due to the state of such habitats, even certain recreational activities, such off-roading, campground and abseiling, need to be better regulated. The state of knowledge of local biota is still poor and resources for the implementation and enforcement of existing regulations have still not reached the required levels. The biodiversity monitoring programme is still rudimentary and under-funded.Exploitation, whether illicit or unregulated, of a number of wildlife species and communities is still ongoing (and, in some cases, possibly increasing), mainly through hunting, trapping and fishing. The currently available data on such activities are not sufficient and not sufficiently reliable to permit a thorough assessment of the impact of such exploitation on the local biodiversity. This issue should be addressed as an immediate priority. Land reclamation in subtile ecological areas should be prohibited and the re-use of abandoned handle encouraged. This needs to be linked to the promotion of land stewardship, establishment of ecological corridors and organic farming. The uncontrolled introduction of outlander species into local eco-systems continues to be of serious concern.An increasing number of such species are establishing themselves in the wild, with contrary effects on the local eco-systems. It is widely documented globally that human-mediated activities, namely trade and tourism, facilitate the introduction and transfer of such species into new environments. Once stranger species are introduced, either deliberately or accidentally, into the environment, they can establish themselves. In certain cases, strange species number 1 to compete with native species, in which case they become invasive and could become the dominant species. Invasive alien species involve and affect a wide range of social, ecological and economic activities and can also affect public health.To prevent these impacts, a strategy to control existent alien species and to prevent the further introduction of alien invasive species, should be drawn up. genetically modified organisms (GMOs) can be considered as alien species and the regulation of GMOs should be included in any policy and/or legislation on alien species. Malta’s official policy is that applications to deliberately tucker or pla ce on the market GMOs are assessed and evaluated on a case-by-case basis and by means of a thorough scientific assessment. musical accompaniment should be given to research and development to forecast and prevent invasive behaviour of alien species and GMOs before they are released into the environment.The Cartagena Protocol on Biosafety should be formalise and implemented in order to control transboundary movements of GMOs with the aim of providing a comprehensive and holistic approach to the conservation of biological diversity, the sustainable use of natural resources and the fair and equitable sharing of benefits deriving from the use of genetic resources. 21 In order to comply with the EU nature protection acquis, Malta has designated an extensive network of peculiar(prenominal) Areas of Conservation, of which 31 are of international importance and which come in to a respectable 12. 5 per cent of the national territory in terms of land area. The total area of protected ter restrial habitat on the Maltese Islands relative to the total surface area compares favourably to the EU average.Additional efforts should now be made so that rare or scientifically important eco-systems not yet protected, as well as representative examples of more widespread habitats such as marine eco-systems, are afforded legal protection. Natural areas which are declared protected need to be monitored and managed in accordance with adopted management plans, the more so since this is also a legal obligation. Management plans have already been adopted for some of the sites, and others are in the pipeline. Monitoring work has been undertaken and policy provisions are being drawn up to ensure that the EU Directives are adhered to. Nonetheless, the process of agreeing on management plans for protected areas will have to be significantly quicken in order to meet Maltas national and international obligations.A commendable dev\r\n'

'Haefren Baum Essay\r'

'Haefren Baum is an self-reliant home furnishings retailer associated with Wiegandt that sells high quality article of furniture. The confederacy began as a partnership in 1965. Haefren Baum became a retailer for Wiegandt in 1968. Two years later, it became a corporate entity. Haefren Baum is located in Cologne, which is one of the nearly populated and rich cities in Germ any. Haefren retails home furnishing from a location business district Cologne, and terce latterly constructed stores in Rhineland.\r\nMarketing Analysis\r\nLocated in downtown Cologne Haefren Baum is a high quality retailer, which recently expanded its ope dimensionns by opening three retail outlet stores in nearby Rhineland suburban atomic number 18as. The party carries Wiegandt’s high quality furniture whose furniture is heavily advertised. Since the stinting condition has non been steady and new competitors atomic number 18 entering the trade Haefren Baum had to decrease its determines in orde r to maintain rank gross revenue volume, these challenges ( contest, providence) earnd a decrease in sales by (-21%) among 93,94, a decrease of( -1.24% )between 94,95. Haefren Baum’s products rebound cyclical demand because others seasons did non cause a decline in sales, tho instead the economy and competition. The German recession has slowly been improving, but it has not helped the furniture food market, and the in store(predicate) does not look rattling promising for Haefren since they will need to adapt to the exploitation competition likewise. Overall, Haefren market position seems to be improving, sales growth will get better but I cannot say that the bon ton will be successful in the future.\r\nOperations Analysis\r\nWiegandt provided its retails distributors’ reference work on 2% 10 net 30 terms, which is consistent with competitors in the industry. Haefren Baum upper limit on outstanding balances were established on historical furniture order, and they had a limits of DM 60,000. Although the sales of the union take in declined significantly their cost of goods sell has remained really high, between 94, 95. There was decline in sales and an add-on in cost of goods sold from $8,189 to $8,237. This is evidence the company is having problems making profit. Haefren needs to address is the delinquency of their customers’ marks, from 93 to 95, days sales outstanding hold change magnitude to 77 days, which is a lot higher than the 30-day periodic installment terms. The company is not stringent in collection efforts but this can be because of the economic condition in Germany. The company does not reign its additions very well. Its decrease in fix asset derangement from 6.98 in 1993 to 5.39 in 1995 can be because of their decrease in sales, but the low extreme asset turnover which is as well diminish from 2.1 to 1.5 surface that their assets are not being used very efficiently. Since sales are decreasing and competition increases their stock-taking days has also increase from 103 to 129 which over again could cause low price. The company is already experiencing a going of revenue due to the fact they lowered price because of economic condition.\r\nFinancial Analysis\r\nThe company have generated very low operate silver flows, which is caused by a shun net income(16, 55) in 94,95, again with sales going down and cost of goods sold increasing. The company current ratio (2.3, 2.1, 2.5) in 93, 94, 95 are indicating satisfactory but when analyze alert ratio (1.1, 1.1, 1.3), and we also issue that sales are down which pissed more inventories. Now the billhook correct qualified days has been increasing (49, 62, and 66). They have been delaying at that place payment which mean more cash in on hand but cost of goods sold is also increasing from $8,189 to $8,237 meaning the cost of increasing APD whitethorn be less than the cost of nonrecreational that cash earlier and having to bo rrow the shortfall to continue operations. The gross profit molding is decreasing (36% to 34, 33) and we also know sales been dropping significantly from 93 to 95 this shows that the company cannot enclose cost inventories and to pass along price increase through sales to customers. The operating profit margin is also dropping significantly from (5.1%, 1.8, and 1.5) we can definitely see that the sign of the zodiac is not efficient. The company has not modify its operating margin; apparently the company was not able to control the growth of operating expenses while sale is decreasing. benefit profit margin is decreasing and negative this is because of decreasing sales, poor customer experience, inadequate expense precaution and also because of the hard knocks in German economy. If we analyses cash flow margin it is (-0.01, 0.02), the company is not able to translate sales into cash. The company’s roe is declining (-1.4 ), it signals that customers are no longer willin g to pay for its products as they were in the past.\r\nIt could be because new competition or economic condition. ROA is also declining (1.6, -1.5 ) again this mean profit readiness is deteriorating, with cash flow from operating activities declining and amount of money asset increasing, the company is not cover any sign of cash generating abilities. With radical liabilities going up for years 93 to 95 (6914, 7786, and 7887) and equity with negative retained earnings, the company is financing with debt, specifically with account payable, note payable. The company takes longer to pay their creditor, paying high interest rates. Since operating earnings are not more than sufficient to cover the dictated charges associated with debt, the company relies on pecuniary leverage. The company is showing a encounterier capital structure since debt equity ratio is (5.8, 9, and 8). Both the profit margin and the asset turnover are lower in (93, 94, and 95). The combination of increase debt (financial leverage) and the onward motion in profitability did not find and asset utilization has not produced an improved general return in 94 relative to the foregoing years. Specifically, the firm has added debt to finance capital asset. Debt carries more insecurity and added cost in the form of interest expense, it also has the positive benefit of financial leverage when employ successfully, which is could be the case for Haefren. There was no improvement in inventory management and has impacted the firm negatively and showing no improvement to total asset turnover ratio. The company’s ability to control operating costs while sales decrease during economic condition has not improved the net profit margin. The overall return on investment is not improving as a result of these combined factors.\r\nSummary\r\nThe findings from the analysis of Haefren financial statements can be summarized from an industry outlook; company’s well-positioned geographically but e conomy hardship make it difficult to benefit from expected economic and industry growth. The company has aggressive marketing and blowup strategies. There was no recent improvement in management of accounts receivable and inventory. The company did not successfully use of financial leverage and solid insurance coverage of debt service requirements. Substantially sales dropped significantly, partially resulting from market competition and economic condition. The company did not increased profitability in 1994 or positive times of cash flow from operations. In general, the outlook for the company could be promising. Haefren appears to be in credit risk with attractive investment potential. The management of inventories, cost controls, and receivable will play an important to the company future success.\r\n'