Tag: Assessment

  • Statement on the meeting of the International Health Regulations (2005) Emergency Committee for Ebola virus disease in the Democratic Republic of the Congo on 12 February 2020

    Statement on the meeting of the International Health Regulations (2005) Emergency Committee for Ebola virus disease in the Democratic Republic of the Congo on 12 February 2020

    The meeting of the Emergency Committee convened by the WHO Director-General under the International Health Regulations (IHR) (2005) to review the current Ebola virus disease (EVD) outbreak in the Democratic Republic of the Congo (DRC) took place on Wednesday, 12 February 2020, from 14:00 to 16:45 Geneva time (CEST).

    Proceedings of the meeting

    Members and advisors of the Emergency Committee were convened by teleconference.

    The Secretariat welcomed the Committee and thanked them for their support. The meeting was turned over to the Chair, Dr Robert Steffen.

    Dr Steffen also welcomed the Committee and gave the floor back to the Secretariat.

    Representatives of WHO’s legal department and the department of compliance, risk management, and ethics briefed the Committee members on their roles and responsibilities.

    Committee members were reminded of their duty of confidentiality and their responsibility to disclose personal, financial, or professional connections that might be seen to constitute a conflict of interest. Each member who was present was surveyed and no conflicts of interest were judged to be relevant to the meeting.

    The Chair then reviewed the agenda for the meeting and introduced the presenters.

    Presentations were made by representatives of the Ministry of Health of the Democratic Republic of the Congo (DRC), the WHO Secretariat, and the UN Ebola Emergency Response Coordinator.

    The current situation in the DRC was reviewed. As of 10 February 2020, there were a total of 3431 cases, of which 3308 were confirmed and 123 were probable. 2253 persons have died (66%). Between 3 and 9 February 2020, three new confirmed cases were reported in Beni Health Zone, North Kivu. These three cases were already registered as contacts and two were under surveillance at the time of detection. More than 2000 contacts are being followed. There has been an increase in the number of security incidents in recent months.

    Challenges that remain include: strengthening of community acceptance for full commitment to response measures; protection of personnel at strategic health checkpoints; improvement of infection prevention and control practices in health facilities; strengthening of the local health system; and comprehensive treatment and support for patients in recovery.

    The WHO Secretariat gave an overview of the epidemiological situation, which shows an overall encouraging trend in case incidence and geographic spread. It was noted that sustaining this progress depends on the security situation and control of the well-known drivers of transmission, particularly in traditional health facilities, and on continued trust and communication with the community.

    A risk communication and community engagement programme has been developed, as has an EVD survivors programme. It is critical to ensure the long-term sustainability of these two initiatives.   

    The situation in countries neighbouring DRC was reviewed, as was preparedness in nonaffected areas of DRC. An EVD operational readiness standardized approach has been implemented in 9 priority countries. More than 2400 alerts have been investigated, and more than 14,600 health workers have been vaccinated.

    The UN Ebola Emergency Response Coordinator gave a brief report on operational support, focused on security challenges and preparations for any resurgence of disease.

    Context and Discussion

    The Committee noted a great deal of progress in the situation since its last meeting and commended the response, under the leadership of the DRC Ministry of Health and the multisectoral coordination commission established in July 2019. Support provided by WHO, UN agencies, nongovernmental organizations and other partners has also contributed to limiting the spread and impact of this virus in a difficult context. An increase in the number of alerts was attributed to strong and proactive community surveillance.

    Conclusions and Advice

    It was the unanimous view of the Committee that this event still constitutes a public health emergency of international concern (PHEIC) under the IHR (2005).

    The Committee acknowledged the revised risk assessment, which puts the risk now as high at national and regional levels, and low at the global level.

    The Committee was concerned that withdrawing the PHEIC now might have adverse consequences for the response efforts through diminishing focus. Additionally, although the primary concern of the Committee is EVD, there are serious ongoing outbreaks of other diseases, including measles and cholera, in DRC. The country continues to need support to combat infectious diseases as well as to strengthen its health system. Further, there remains an urgent need to maintain international solidarity for the response.

    The Committee noted the ongoing discussions about the interpretation in the text of the IHR (2005) of the terms international and regional spread, and about creating an intermediate level of response between the binary possibilities of PHEIC or no PHEIC, in a way that does not require reopening negotiations on the Regulations. The Committee supports these discussions, as an intermediate level would be as useful for gradually ending a PHEIC and for signaling the potential for one to be declared.

    The Committee provided the following advice to the Director-General for his issuance as revised Temporary Recommendations under the IHR (2005).

    For DRC:

    • Sustain the political commitment and multisectoral coordination approach to the response.
    • Continue to engage and build trust with associations of survivors to facilitate rapid detection of any cases arising from exposure to infected bodily fluids of survivors.
    • Continue to strengthen capacity, implementation, and coordination for community awareness and engagement, including a focus on hotspots, preventing resurgence where cases have declined, and to support survivors in their communities.
    • Further enhance the acceptance of response measures and address access and security issues by engaging influencers and decision makers for all interventions.
    • Strengthen measures to prevent and manage nosocomial infections, including systematic mapping of health facilities, targeting of IPC interventions and sustain support to those facilities through monitoring and supervision, including in private-sector and traditional health facilities.
    • Continue cross-border screening and step up monitoring at checkpoints around hotspots and at main roads.
    • Continue to implement and share real-time full-genome genetic sequencing of all new confirmed cases.
    • Strengthen measures to prevent and manage nosocomial infections, including systematic mapping of health facilities, targeting of IPC interventions and sustain support to those facilities through monitoring and supervision.
    • Strengthen preparedness in non-affected provinces of DRC, and more generally strengthen the health system across the country to respond to concurrent health emergencies.
    • Continue to implement optimal vaccine strategies that have proven maximum impact on curtailing the outbreak, as recommended by WHO’s Strategic Advisory Group of Experts (SAGE).

    For countries at risk:

    • At-risk countries should maintain their work with partners to improve their preparedness for detecting and managing imported or locally acquired cases, including the transparent sharing of detailed information on suspect cases, as required by the International Health Regulations (2005), and sharing laboratory samples of suspect cases for confirmatory testing in accordance with WHO norms and guidance.
    • Countries should continue to map population movements and sociological patterns that can predict risk of disease spread.
    • Risk communications and community engagement, especially at points of entry, should be maintained.

    For all countries:

    • As recommended previously, no country should close its borders or place any restrictions on travel and trade.
    • The Committee does not consider entry screening at airports or other ports of entry outside the region to be necessary.

    The Committee emphasized the importance of continued support by WHO and other national and international partners towards the effective implementation and monitoring of these recommendations.

    Based on this advice, the reports made by the affected State Party, and the currently available information, the Director-General accepted the Committee’s assessment and on 12 February 2020 maintained the Ebola outbreak in the Democratic Republic of the Congo as a Public Health Emergency of International Concern (PHEIC).

    The Director-General endorsed the Committee’s advice and issued them as Temporary Recommendations under IHR (2005) to reduce the international spread of Ebola, effective 12 February 2020. The Director-General thanked the Committee Members and Advisors for their advice and requested their reassessment of this situation within two months or earlier if the situation requires.

    Statement on the meeting of the International Health Regulations (2005) Emergency Committee for Ebola virus disease in the Democratic Republic of the Congo on 12 February 2020
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    https://www.who.int/news-room/detail/12-02-2020-statement-on-the-meeting-of-the-international-health-regulations-(2005)-emergency-committee-for-ebola-virus-disease-in-the-democratic-republic-of-the-congo-on-12-february-2020

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  • US$675 million needed for new coronavirus preparedness and response global plan

    US$675 million needed for new coronavirus preparedness and response global plan

    To fight further spread of the new coronavirus (2019-nCoV) outbreak in China and globally, and protect states with weaker health systems, the international community has launched a US$675 million preparedness and response plan covering the months of February through to April 2020.

    “My biggest worry is that there are countries today who do not have the systems in place to detect people who have contracted with the virus, even if it were to emerge,” said Dr Tedros Adhanom Ghebreyesus, WHO Director-General. “Urgent support is needed to bolster weak health systems to detect, diagnose and care for people with the virus, to prevent further human to human transmission and protect health workers.”

    The Strategic Preparedness and Response Plan (SPRP) for the new coronavirus lays out activities and resources needed by international health organizations globally, including WHO, to implement priority public health measures in support of countries to prepare and respond to nCoV-2019 for a period February-April 2020. The objectives of the plan are to  limit human-to-human transmission of the virus, particularly in countries most vulnerable if they were to face an outbreak; identify, isolate and care for patients early; communicate critical risk and event information; minimize social and economic impact; reduce virus spread from animal sources; and address crucial unknowns.

    The plan focuses on:

    • Rapidly establishing international coordination and operational support;
    • Scaling up country readiness and response operations;
    • Accelerating priority research and innovation.

    “The effectiveness of outbreak response depends on the preparedness measures put in place before outbreaks strike,” said Dr Mike Ryan, head of WHO’s Health Emergencies Programme. “That is why we are seeking resources to safeguard the most vulnerable countries to protect people from the new coronavirus before it arrives on the doorstep.”

    As noted in the SPRP, WHO assesses that the outbreak poses a very high risk in China, and high risk regionally and globally. The risk assessment was based on factors including the likelihood of further spread, the potential impact on human health, and the varying levels of effectiveness in national preparedness and response measures. Accelerated action, as called for in the plan, can address these risks and areas requiring support.

    As of 10 a.m. Central European Time on 5 February, 25 countries have reported confirmed cases of the new coronavirus, including China, where 24,363 people had contracted the virus, or over 99% of all cases. In all other countries, 191 cases have contracted the virus.

    US$675 million needed for new coronavirus preparedness and response global plan
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    https://www.who.int/news-room/detail/05-02-2020-us-675-million-needed-for-new-coronavirus-preparedness-and-response-global-plan

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  • Effective Restaurant Training Techniques: Jump-Start Your Training Program Today

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    I have seen different types of training techniques for restaurant staff. Some restaurants send new hires to their corporate training school; others hire experienced staff thinking they already know how to work that position. I think all new staff members should receive quality training regardless of previous experience.

    Each role in a restaurant is important for the restaurant’s success!

    Management must be able to work in every position. Their knowledge of each job is vital. Managers must step into those other roles to maintain customer service. Some reasons could be if there is a call-out, or if the sales are higher than projected.

    If people tell you that managing a restaurant is easy, they are dead wrong. In-fact it is the most difficult position in the restaurant. Running a restaurant is challenging; management needs to be able to multitask, give direction, and follow-up on that direction. Managers must be able to retain large amounts of information and make quick decisions and be ready to step into any position.

    Managers are not born to run a restaurant; they are developed into that position. The same goes for the rest of the staff. Train the management staff, then the trainers. Management will oversee the trainers as they train the rest of the staff.

    The most effective restaurant training techniques are:

    • Show-Do-Review: The trainer shows the staff member how to do the task. Then the trainer observes the trainee actually doing the task. After completion, they review the task together and the trainer gives feedback to the new hire. The Show-Do-Review technique is especially effective in learning recipes, kitchen duties, cleaning tasks, or service tasks.
    • The Memory Game: Once the new hire has some understanding of their new job, the trainer shadows the staff member and helps the new hire remember different key components of the job. Periodically the trainer will ask the trainee a question. If the trainee does not answer the question correctly, then the trainer will provide the answer. The trainer will continually repeat the question all throughout the day or night until the trainee answers it correctly. The purpose of the exercise is getting the staff member to retain the information. The Memory Game can be used to remember important food time and temperature, menu and recipe knowledge, service steps, or even manager responsibilities.
    • Role-Playing: Role-playing is one of the most effective training techniques to use in creating top-notch performers. Existing staff members and new hires experience real life situations and “learn by doing”. The trainees will experience “real life” situations in a simulated and controlled environment. This technique allows the trainer to evaluate the trainee’s strengths and areas to improve. This also helps to develop an action plan so that the trainee can overcome any obstacles to their success. “Practice make perfect.” This technique allows the employees to see different perspectives, build confidence, and form good habits. The trainer will observe the role-playing and my correct the staff members periodically to ensure they on the right path. Role-playing is a great technique for service staff and managers to learn the proper way to handle customer questions or complaints, how to approach a table, and the steps of service.
    • Shadowing: The trainee shadows the trainer, and the trainer shows the trainee the correct procedures in completing the assigned task. The trainer should ask open-ended questions in reference to the task. Once the trainee is more comfortable, then the trainer will shadow the employee. Communication between the staff members is crucial in developing the trainees. Shadowing could be used for nearly any role, especially on the first days and last days of training.

    Once the trainer evaluates the staff member and determines that the employee has mastered that position, then that person is ready to work independently.

    Management should observe or be involved in the training process to ensure that employee is receiving quality training. The general manager/owner oversees the managers. The general manager/owner may have the final say in whether a new employee is ready to work solo.

    Utilize any tool available to help achieve the training goals. During the training process using feedback or assessment forms can help track the quality of the training. Documenting the progress of the training and reviewing it with the employee will help the employee to know your expectations. It also gives you a paper trail of that particular employees training.

    Using a variety of training techniques for your restaurant is useful in getting all your staff on the same page. It also is more interesting than sitting down with someone and reading a scripted presentation. It will help you retain staff, because too many people are thrown into their jobs without the proper training and get frustrated and quit. Having a training program that is easy and effective is important in your restaurant’s success.

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    Source by Jeffrey Schim

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  • Risks in International Business

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    Just as there are reasons to get into global markets, and benefits from global markets, there are also risks involved in locating companies in certain countries. Each country may have its potentials; it also has its woes that are associated with doing business with major companies. Some of the rogue countries may have all the natural minerals but the risks involved in doing business in those countries exceed the benefits. Some of the risks in international business are:

    (1) Strategic Risk

    (2) Operational Risk

    (3) Political Risk

    (4) Country Risk

    (5) Technological Risk

    (6) Environmental Risk

    (7) Economic Risk

    (8) Financial Risk

    (9) Terrorism Risk

    Strategic Risk: The ability of a firm to make a strategic decision in order to respond to the forces that are a source of risk. These forces also impact the competitiveness of a firm. Porter defines them as: threat of new entrants in the industry, threat of substitute goods and services, intensity of competition within the industry, bargaining power of suppliers, and bargaining power of consumers.

    Operational Risk: This is caused by the assets and financial capital that aid in the day-to-day business operations. The breakdown of machineries, supply and demand of the resources and products, shortfall of the goods and services, lack of perfect logistic and inventory will lead to inefficiency of production. By controlling costs, unnecessary waste will be reduced, and the process improvement may enhance the lead-time, reduce variance and contribute to efficiency in globalization.

    Political Risk: The political actions and instability may make it difficult for companies to operate efficiently in these countries due to negative publicity and impact created by individuals in the top government. A firm cannot effectively operate to its full capacity in order to maximize profit in such an unstable country’s political turbulence. A new and hostile government may replace the friendly one, and hence expropriate foreign assets.

    Country Risk: The culture or the instability of a country may create risks that may make it difficult for multinational companies to operate safely, effectively, and efficiently. Some of the country risks come from the governments’ policies, economic conditions, security factors, and political conditions. Solving one of these problems without all of the problems (aggregate) together will not be enough in mitigating the country risk.

    Technological Risk: Lack of security in electronic transactions, the cost of developing new technology, and the fact that these new technology may fail, and when all of these are coupled with the outdated existing technology, the result may create a dangerous effect in doing business in the international arena.

    Environmental Risk: Air, water, and environmental pollution may affect the health of the citizens, and lead to public outcry of the citizens. These problems may also lead to damaging the reputation of the companies that do business in that area.

    Economic Risk: This comes from the inability of a country to meet its financial obligations. The changing of foreign-investment or/and domestic fiscal or monetary policies. The effect of exchange-rate and interest rate make it difficult to conduct international business.

    Financial Risk: This area is affected by the currency exchange rate, government flexibility in allowing the firms to repatriate profits or funds outside the country. The devaluation and inflation will also impact the firm’s ability to operate at an efficient capacity and still be stable. Most countries make it difficult for foreign firms to repatriate funds thus forcing these firms to invest its funds at a less optimal level. Sometimes, firms’ assets are confiscated and that contributes to financial losses.

    Terrorism Risk: These are attacks that may stem from lack of hope; confidence; differences in culture and religious philosophy, and/or merely hate of companies by citizens of host countries. It leads to potential hostile attitudes, sabotage of foreign companies and/or kidnapping of the employers and employees. Such frustrating situations make it difficult to operate in these countries.

    Although the benefits in international business exceed the risks, firms should take a risk assessment of each country and to also include intellectual property, red tape and corruption, human resource restrictions, and ownership restrictions in the analysis, in order to consider all risks involved before venturing into any of the countries.

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    Source by Sidney Okolo

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  • The Life of Ezra Pound by Noel Stock

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    A review of The Life of Ezra Pound by Noel Stock must begin by acknowledging the phenomenal achievement of its author. It is comprehensive, detailed, forensic, appreciative, critical and illuminating, a massive achievement of analysis, research and insight. At around 200,000 words it is also a commitment, not for the fainthearted or for anyone with only a passing interest in either poetry or the history of the twentieth century. But it is also something else, something that, despite the magnificence of its scholarship, provokes this reader to focus on issues that are external to the text, itself. But more of that later: first, the book.

    Ezra Pound was undeniably one of the greatest figures of twentieth century literature. Unlike his illustrious contemporaries and friends, however, Joyce, Eliot and Yeats among them, his name has seemed to slip from the mainstream since his death in 1972. I read his great achievement, the Cantos, when I was at college. I did not understand them. In some ways they feel less like a work of poetry than a lifetime achievement, a creatively conceived and sometimes over-presented commonplace book into which fell, in poetic form, a distillation, a reflection or sometimes mere mention of whatever disparate material that Pound obsessed over at the time. The Cantos were Pound’s creative life, but we must not forget the massive amount of other material, his journalism, music, prose and economics, for want of a more accurate word.

    Pound was one of the founders and movers of literary and artistic movements: Imagism and the Vorticism among them. They were perhaps not the most enduring of directions. He was American but seemed more at home in England and then Italy, neither of which chooses to honour his achievements on their soil. But what is strongly felt about this man from the start is his conviction of, perhaps his obsession with his own genius. He was utterly sure he would contribute to the arts and perhaps even change their direction. He seemed to consider his legacy immortal, even before it had been created. He felt he was something new, original and enduring. And all this when apparently no-one even wanted to read his material, or formally give him time of day. And not only did he seem to deny his failures, he didn’t even seem to register them. The limitations were always somewhere else. In the early years, he thus seemed like a self-publicist, with is achievements acknowledged before they were achieved, like a modern self-published author who writes five-star, best-seller reviews of his own work. Nowadays, that surely would never do!

    But eventually, perhaps by sheer dogged application alongside considerable talent, Pound received the recognition he thought he deserved, though perhaps never in our own contemporary, blunt instrument yardstick of success – sales. Certain academics loved him. Others did not. He himself had high hopes of a Nobel Prize.

    Noel Stock includes copious quotations from Pound’s verse, always with critical assessment, sometimes with criticism. The Cantos were so far reaching in their intellectual coverage that it may appear from the outside that no-one without the full gamut of requisite skills would understand them. And given that these skills comprise, amongst other things, a knowledge of Dante and medieval Italian poetry, Confucius, Mencius and Lao-Tze in the original Chinese, troubadour songs in their original langue d’oc, Noh theatre texts in Japanese, Pound’s own experimental English, besides knowledge of the Classics and their metres, one might presume that there might be few modern readers of his work. This is probably accurate. But there is more to the modern shunning of Pound’s work than its overtly elitist intellectual demands. And it is here that this review needs to diverge from literature, poetry and indeed Ezra Pound, himself, to address the related concepts of fascism and racism.

    The main reason why today Pound’s name remains passé is his espousal of fascist ideas and his overt antisemitism. He went to live in Italy. He regarded Mussolini as rather a good thing. In Italy at the time he was hardly alone in this belief. He adopted Hitler’s aggressive antisemitism because he was fundamentally opposed to capitalism, if it meant what he saw as a banking and economic system dominated by Jews, the foundation of this belief being a bank owned by the Rothchild family. He also took to broadcasting pro-fascist propaganda (in Italian and English) on radio during World War II.

    Normally, my reviews are consciously detached. I try to review the book, not myself. Likes and dislikes are, to me, wholly nebulous and indefinable and even passing whims that are always less significant than considerations of communication or achievement of ends. In the case of The Life of Ezra Pound, the subjective “I” must be included, since our appreciation or not of this poet’s writing now seems to depend wholly on our individual take on his politics, despite his being be neither analytical or pro-active in his views, as this biography clarifies. In some ways, his politics were as transient as his current interests, as expressed in the meanderings of the Cantos. But what now can we make of Pound? Should we even try to understand him? Is dismissal the preferred option? I would say that he is worth the effort. Not the use of “I”! And this is not because I think Pound is a particular genius, overlooked or even readable. And I certainly do not see his actions as pardonable! And here I beg your pardon for making this book review become something personal, something about me and not about the book, but I assure you it is relevant. Please exit here if you are wary of the personal.

    I remember in the recent past a well-known British television presenter saying on-air that the music of Wagner was not played in her household because of the composer´s antisemitism. I remember another celebrity saying that antisemitism was the flavour of Wager´s age, and that rejection of the composer´s work on those grounds alone ought to prompt a similar rejection of everything artistic or otherwise that came out of mid-nineteenth century German culture.

    In the not too distant past I re-read Adam Smith´s Wealth of Nations. In my review I concentrated on those aspects of the analysis that might contradict the completely neo-liberal interpretation of the work. I was perhaps wrong to do so, but I wanted to challenge the idea that there is just one way to read Smith´s notion of free trade. Embedded within Smith´s thesis, however, are assumptions about human progress and worthiness. The Hindoo, the Mussulman and even the Catholic have their place in history and civilisation, but the heathen is judged to be a primitive sub-human. I do not recall Smith referring to ´The Buddhist´, but that may be my own failure of memory. In today´s politics, how many of the neo-liberal, perhaps neo-conservative supporters of their own notions of Smith´s concepts of free trade also regard those not associated with an organised great religion as both uncivilised and sub-human? And, given that the assumption appears to run throughout the work, should that alone disqualify Smith´s views on other subjects or his contribution to economics? Another position that almost dominates sections of The Wealth of Nations is that there is no economic activity that is or could be greater than the total that describes the state. How many of these same free marketeers would share Smith´s oft-stated revulsion of the very idea of a transnational corporation, which he regarded as necessarily market-distorting and almost automatically corrupt? This is recognized in antitrust and anti-monopoly legislation, but how often is this side of Smith´s work quoted? My point here is that we can choose to be selective, and usually do.

    I am tempted here to introduce the composer Anton Webern into the argument. A member of the second Viennese School, Webern espoused the atonalism of his associate, Schoenberg. Webern was perhaps the artistic opposite of Ezra Pound, being prone to destructive self-criticism and a desire for an extreme succinctness of expression. But Webern, like Pound, thought that fascism might be more sympathetic towards “high art” to which he aspired than the mechanisms of capitalism that concentrated on what it could sell. He thus initially espoused fascism, eventually to his own and his associates´ cost.

    After this considerable diversion, there is eventually a moral, and that is to beware anyone touting answers, especially those based on interpretations of the past in anything other than its own terms. Which brings me to Brexit! It might seem quite a jump, but it does follow. Trust me!

    I have recent personal experience, albeit apocryphal, that suggests the prime motivation among the British working class leave voters who surely swung the referendum result was “getting rid of all the foreigners.” I use quotes to emphasise that this was expressed to me personally and verbatim, with stress on the “all”. I had just finished The Life of Ezra Pound and I felt immediately a strange yet strong link with Pound´s antisemitism, which was founded on nothing less than trying to find someone to blame.

    Perhaps we should not judge Wagner, Adam Smith or even Ezra Pound using the moral perspective of our own time. For if we did that, and rejected any espousal of either racism or religious bigotry, how much of our human past would we retain? And, given the above Brexit opinion, is the moral perspective of our time significantly different from that of the 1930s, or even the 1850s, or 1770s or indeed any other time in our conflict-ridden blame game of history?

    The Life of Ezra Pound is a forensic biography of a poet. It describes a life lived in its historical and cultural context. Like all books committed to communicating its subject, it is a masterpiece that takes the reader way beyond the confines of its subject and thereby achieves a permanent relevance. Revisit this past. We must never deny it existed or forget its consequences. But it reminds us that as individuals, communities and societies, there is no rule that precludes the repetition of error. And neither is there any rule that insists that a current moral ground need be any higher than any other existing folly, contemporary or past.

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    Source by Philip Spires

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  • Trading Psychology – The Number One Goal-Setting Mistake Traders Make in Trading

    Trading Psychology – The Number One Goal-Setting Mistake Traders Make in Trading

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    The number one goal-setting mistake traders make is setting goals related to money. Active traders will often tell me that they have a goal of making X-dollars a day or X-points a day. That's just not a good way to structure a goal.

    Trading Goals Related to Money

    What happens when the market trades in a very narrow range? Typically, price movement will remain within the first hour's range throughout the day. That range might only be 5 or 6 points – too narrow to offer much trading opportunity. It is very difficult to make money on such narrow range days.

    So, if you goal was to make X dollars a day how do you do that on a narrow range day? Since it is nearly impossible to make good trades on such a day, you would have failed to achieve your goal. And, if you couldn't read that the market has narrowed its range and instead tried to reach your money goal, you would have likely been trying to trade at every little turn and wound up over trading a choppy, range-bound day. At best your money goal had set you up for failure because you couldn't achieve it. Worse, your money goal caused you to force trades in a choppy market, and maybe you lost money. Goals that promote failure, poor trading habits, and losses are not useful goals.

    A Better Trading Goal

    A better goal focuses on your development as a trader. It will help you improve your trading knowledge, skills, or abilities. Rather than thinking about money, think instead about the process of trading. The process of trading simply refers to the skillful actions a trader takes in trading effectively. A useful question to ask is:

    What trading process, if I were to improve and develop in this area, would add to my ability as a trader?

    Example of a Better Trading Goal

    An example will help to illustrate how to do this. Let's say you want to improve your ability in trading trends. You have done a self-assessment of your trading on trending days and find that your greatest limitation is that you tend to counter trade the trend. A simple solution might be to notice whether the market is moving with momentum and making higher lows and higher highs (for a bullish trend). A useful process goal then becomes:

    Prior to taking a trade that fades a move, I will assess whether the market is moving with momentum and making higher highs and higher lows. If it is trending, I will not take the trade. I will execute this process on at least 85% of all trades considered over the next 20 trading days.

    Note that this goal is useful because it builds skills and ability in assessing market movement. It also keeps the trader from taking poor quality trades. The next step for this trader would be to develop a goal to execute trades consistent with the trend – again, a process goal.

    Trading goals should be designed to help you achieve. Goals related to money, points, or other 'stats' won't help you do that. Work on trading goals that are related to achievement by helping you to develop your trading skills.

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    Source by Gary Dayton, Psy.

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  • Customer Satisfaction Management

    Customer Satisfaction Management

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    General understanding of consumer satisfaction or dissatisfaction is the result of differences between consumer expectations and performance perceived by consumers. From the various definitions of consumer satisfaction that have been researched and defined by marketing experts, it can be concluded that customer satisfaction is a behavior response consumer in the form of after-purchase evaluation of an item or service that they feel (product performance) compared to consumer expectations.Consumer satisfaction is very dependent on the perceptions and expectations of consumers themselves. Factors that influence consumers’ perceptions and expectations when making purchases of goods or services are needs and desires felt by consumers when making purchases of goods or services, past experiences when consuming these goods or services and experiences of friends who have consume these goods or services and advertising.In a competitive environment, an indicator that can show customer satisfaction is whether the consumer will buy back and use the product in the future.

    Customer needs are fulfilled is one of the factors forming Customer Satisfaction (Customer Satisfaction), in addition to other factors related to Customer Service. And this customer satisfaction is what we need to ensure the continuity of our business. Aspects that can affect customer satisfaction effectively [13], namely:

    1. Warranty costs. Several companies deal with the warranty costs of their products / services through a percentage of sales. The company’s failure to give satisfaction to customers is usually because the company does not provide guarantees for the products they sell to customers.

    2. Handling of complaints from customers. Statistically this is important to note, but it is often too late for companies to realize it. If complaints / claims from customers are not immediately resolved, customer defections cannot be prevented.

    3. Market Share. It is a matter that must be measured and related to company performance. If the market share is measured, then the quantity is measured, not the quality of the company’s service.

    4. Costs of poor quality. This can be of satisfactory value if costs for customer defect can be estimated.

    5. Industry reports. There are many types and industry reports, as stated by J.D Power in Bhote, which is the report that is the fairest, most accurate, and most eagerly made by the company.Guiltinan [14] argues that one of the benefits of customer satisfaction is that it can increase customer loyalty, as shown in the figure below

    Customer satisfaction is an emotional response to the evaluation of the consumption experience of a product or service. Kotler defines customer satisfaction as the level of one’s feelings after comparing the performance (or results) that he feels compared to his expectations (Kotler, Philip, and Garry Armstrong, 2005). Basically, customer satisfaction includes the difference between expectations and performance or the results obtained.

    According to Kotler [1], satisfaction is feeling happy or disappointed someone who appears after comparing between perceptions or impressions of the performance or results of a product and expectations. So, satisfaction is a function of perception or impression of performance and hope. If the performance is below expectations, the customer is not satisfied. If the performance meets expectations, the customer will be satisfied. If the performance exceeds expectations, the customer will be very satisfied or happy. The key to generating customer loyalty is to provide high customer value.The relationship between customer satisfaction and loyal customers is disproportionate [2], for example, customer satisfaction is ranked on a 1-5 scale, namely:

    1. Customer satisfaction at a very low level (level 1), most likely customers will move away from the company and speak ill of it.

    2. Customer satisfaction at level 2 to level 4, customers feel somewhat satisfied, but it is still possible to move when a better offer appears.

    3. Customer satisfaction at level 5, customers are very likely to buy back and even disseminate good news about the company.

    High satisfaction or satisfaction creates an emotional bond with the brand or company and is not only fixated on reasonable choices.While satisfaction according to Kotler and Armstrong (2001: 9): Consumer satisfaction is the extent to which the assumption of product performance meets the expectations of buyers. If the product’s performance is lower than the customer’s expectations, the buyer is satisfied or very happy. According to Zeithaml and Bitner (2000: 75) the definition of satisfaction is: Consumer response or response regarding fulfillment of needs. Satisfaction is an assessment of the features or features of a product or service, or the product itself, which provides the level of consumer pleasure related to meeting consumer consumption needs. Consumer satisfaction can be created through quality, service and value.

    Customer expectations are believed to have a large role in evaluating product quality (goods and services) and customer satisfaction. Customer expectations basically have a close relationship between determining quality and customer satisfaction. Customer expectation always exists because of four things (Kertajaya, 2004):

    1. Individual Need or individual needs

    If your customer already has high demands, then his expectations are definitely high too.

    1. Word of Mouth

    Customers can have certain expectations because of other people’s stories. Other people’s stories are often seen as references.

    1. Past experience or past experience

    People who already have good experience in the past will be able to receive services at least the same as they used to be. If not, he will be disappointed.

    1. External communication or external communication

    It is an attempt by the company to promise something to customers in order to attract customers.

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    Source by Yufi Priyo

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