Tag: Impact

  • Pharmacy Technician Jobs – Positive Aspects

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    There often are several different positive aspects to pharmacy technician jobs. Individuals that become interested in this profession usually are looking to be of assistance to other people. These people will be given an amazing opportunity to help others every day of their career. This is advantageous for people that want to make a positive impact on the world around them.

    Individuals in this profession will be given the opportunity to help customers understand the medication that they are taking. This is advantageous because the social action will be good for the person that is performing the job. Customers usually appreciate when they are able to understand what they are putting into their body.

    People involved with this profession also will have the ability to work closely with the pharmacist to make completely certain that medications are being distributed properly. Answering customer questions is also important so that there is not interaction between medications. People involved with this line of employment often will be able to explain things very clearly to individuals.

    People that are involved with this work will also make sure that paperwork is filed properly. Documentation is a very important part of this profession. When a person has the ability to stay organized and they will be very successful in this line of making money. Organization is important so that mistakes do not happen when medication is dispensed.

    These individuals will also help to make sure that there are no problems between different medications that a patient is taking. The responsibilities of an individual that has this job will vary throughout the day. The various responsibilities will make the job extremely enjoyable for anyone that has chosen this career path.

    Interacting with medical professionals is also part of the responsibilities. Clarifying information in regards to prescriptions can also be part of the job description. Performing this task is extremely valuable so that people do not wind up taking the wrong medications. It will be very clear to understand the obligations involved with this type of employment.

    Pharmacy technician jobs are very interesting and challenging. People that are making valid attempts to look for a fantastic job that will keep them intellectually stimulated will be very pleased with this career choice. When an individual has the opportunity to remain intellectually stimulated when performing their job they will usually succeed very well. Professional success is very important to individuals who are part of this line of work.

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    Source by Susan Bean

    Views: 0

  • Distinguishing Drug Abuse From Drug Addiction

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    Though “drug abuse” and “drug addiction” are often used interchangeably, in reality the terms refer to two distinct behavior patterns. An individual can abuse or misuse drugs without being inevitably addicted to them. Abuse or misuse involves the use of drugs defying the culturally acceptable standards or medically prescribed doses to attain a certain effect. The substances abused may be legal, such as alcohol or prescription drugs, or illegal, like heroin and other street drugs which have no medicinal value.

    On the other hand, drug addiction, or compulsive drug use, refers to an uncontrollable desire to use a drug in spite of being aware of harmful psychological and physiological effects that they can have on the body. Addiction is often characterized by an insatiable appetite for substances by increasing the dosage, leading to a complete dependence on them.

    Since abuse and addiction are two distinct concepts, their causes are unique as well. Abuse is generally considered to be more complicated but it is not necessarily triggered by any motivational factor, unlike addiction which is caused by a powerful motivational force. Therefore, in most of the cases, abuse may not always result in addiction, but addiction can certainly lead to abuse.

    Impact of drug abuse and addiction on the brain

    It has been observed that both drug abuse and drug addiction have similar effects on mind and body. People often view abuse and addiction as a moral weakness or character flaw. One of the common myths surrounding drug use is that quitting it is directly linked to behavioral changes. In reality, addiction is a disease which alters the brain functions, hijacking the natural motivational control circuits. Thus, quitting is simply not a matter of choice or willpower. Though, the decision to use the drug initially might be voluntary, changes in the brain structure due to repeated drug use can inhibit someone’s self-control and decision-making ability, causing intense cravings.

    Experts attribute the inability to refrain from drug use to these changes in the brain. However, modern medical advancements have led to the development of an array of treatment and rehabilitation options to combat the disastrous effects of addiction and help abusers take control of their lives. Studies have shown that a combination of medications and behavioral therapy can boost the recovery process with minimal withdrawal effects.

    Possible reasons leading to drug abuse and addiction

    For those who are dependent on illegal substances, it can be difficult to know whether they have crossed the limit. Here are some possible reasons that can trigger drug abuse or addiction:

    • Connecting socially: A strong desire driven by an urge to fit into a certain group could lead people toward drugs.
    • Dealing with problems in life: Continuous drug use can get individuals accustomed to it, and soon it might become the only way to escape from problems and challenges.
    • Using drugs to combat other issues: Serious concerns, such as panic attacks or chronic pain, can cause dependence on drugs, until people discover healthier alternative methods to counter such problems.
    • Strong influence of any drug: Frequent use of drugs triggers dependence on them. Thus, what started as a voluntary choice may slowly transform into a physical and psychological need.

    Leading a drug-free life

    Many families and individuals have suffered great losses due to addiction to drugs. Fortunately, there is hope, though the battle to eliminate addiction and regain sobriety is challenging. There are numerous treatment strategies that can go a long way in helping people come out of their addiction-related problems.

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    Source by Barbara Odozi

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  • Combine Language Learning and Technology to Explode Your Teaching and Learning Success

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    Are you looking to boost your English language teaching or learning skills to yet ever higher levels? Would you like to stimulate more interest in your language classes or break out of a slump or plateau? Combine the use of a variety of language learning techniques with continually developing technology to spur your successes. Here are some useful ideas and web sites to get you started.

    BLOGS

    A Web Log or Blog, is not unlike a dairy you keep online. You can write instructions, an essay or post any type of information you want. Graphics and images can be included to illustrate the written material. Sound and audio-visual files can also be placed into a blog for added impact. A teacher can post a reading or assignment where students can comment right online. No papers, no clutter and you can view it almost any time. Blogs are becoming easier to use and access and many sites allow you to set one up for free.

    ONLINE VIDEO / AUDIO

    Most professionals have an e-mail address or two. Your e-mail can now become a communicative tool between you and the learners. E-mail can now also include the use of images and sound or audio-visual clips, as well as the message text. Learners can send in assignments as attachments or pasted into the body of the e-mail. They can ask questions and receive timely feedback without waiting for the next class session. Teachers can send out instructions, updates or other information to learners individually, or as a group also without having to wait for the next scheduled class session.

    No computer? No problem. In many parts of the world e-cafes are so cheap they’re actually a viable alternative that students can easily afford. Whole “communities” of young learners are based on hangouts at e-cafes in some cultures. Talk to your students about it. You might be surprised.

    USE OF ONLINE RESOURCES for TEACHING / LEARNING

    The use of online games, EFL practice sites student and teacher forums, communities and activities has exploded in recent months in many parts of the world. Virtual communities and online reference libraries now enable learners to problem-solve, research a paper or to more quickly complete assignments that formerly would have taken disproportionately large amounts of time to complete. For example, a few sites worth mentioning include:

    o http://www.books.google.com/

    A web site which offers free access to books that can be read on-screen

    o http://www.universia.net.co

    This is a site which has a lengthy listing of virtual libraries in almost any genre and connects more than 900 mostly Spanish language libraries

    o http://www.redclara.net

    This site interconnects an advanced academic network of Latin American libraries

    o http://www.lablaa.org

    This site allows you access and read a large number of its collected works online and contains exposition pages

    o The official Project Gutenburg web site contains an extensive listing of literary works in English which have entered the Public Domain. It’s online at: [http://promo.net/pg/]

    Try some of these useful ideas and web sites to get you started in combining the use of a variety of language learning techniques with continually developing technology to explode your English language teaching and learning successes. If you need to know more about using these or other new technologies to boost student interest and motivation making your English language teaching more effective, feel free to e-mail me at the address below with questions or comments.

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    Source by Larry M. Lynch

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  • Stopping Employee Theft in Your Coffee Business

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    Regardless to how good of an employer you are, and even if you treat your employees well, understand that employee theft is a reality, and you need to control it. While it may only be a very small percentage of your staff that might steal from you, it can have a significant financial impact on your coffee business. If it goes unnoticed, employees will usually become even more brazen in their activities.

    When it comes to theft, your employees are likely to fall into one of the following four categories:

    Mr./Ms. honest – these are people who would never think of taking anything if it doesn’t belong to them. If they happen to go home with one of your ballpoint pens, they’ll bring it back the next day, and feel guilty that they took it home, even though it was unintentional.

    Incidental theft – these are people that will take home your pen by accident, and will keep it. And, they may scarf a piece of cheesecake occasionally when you aren’t looking, even though they know they shouldn’t. Because these items have minimal value, they have no great sense of guilt related to their activities.

    Theft because of need and opportunity – this is when you have an employee who is perhaps living on the edge financially, and because they have the need, and because your security may be lax, they’ll take advantage of an opportune situation to take something.

    Compulsive theft – this is the person who is always looking for something to steal, and they have absolutely no conscience about it. They typically rationalize the theft in their own mind. They consider you to be the rich, fat cat, and feel that they are over worked and under paid, so stealing from you is justified.

    Employee theft probably exists to some extent within your operation, whether you are aware of it or not. You can most likely live with incidental theft, provided it doesn’t get out of control. Theft related to need and opportunity is, in reality, your fault. These people would probably not steal from you normally, but a lack of security procedures has created the temptation and means for them to do so. Compulsive theft must be discovered, stopped, and you must eliminate the person(s) responsible.

    Losing product due to theft:

    Your employees may have no desire or need for a sleeve of 12oz. paper cups, Java Jackets, or a roll of toilet paper… but they might like a frozen cake, gallon of chocolate sauce, 6-pack of beer, or a bottle of wine.

    There are some simple things you can do to greatly reduce the chance of being ripped-off. First, don’t allow your employees to store their jackets, backpacks, and purses near where you store products. This makes it incredibly simple for someone to slide something into their bag or jacket pocket when no one is watching. I always had my employees store their personal belongings in the cabinet under the cash register (where someone would always be watching), or in my office, under lock & and key.

    Second, keep the back door of your store locked with a key at all times (you or your supervisor being the only ones having a key). If customers regularly enter through your back door, this may not be an option. If your back door is an emergency fire exit (and it probably is), you’ll need to install an alarmed breaker-bar. The whole point is that you don’t want your employees to be able to flow in and out of the back door without you knowing about it. Carrying product out the back door to their car, a hiding place for later pick-up, or an awaiting friend, is one of the most common ways products will exit your store.

    Once you have made it more difficult to stash things in their personal belongings, or carry them out the back door, employees may resort to hiding items in the trashcan. Of course you will unlock the back door to let them take out the trash. If they have hidden something in the trashcan, a dumpster-diving expedition will certainly be planned for after-hours to recover their treasure.

    Periodic trashcan checks should eliminate this problem, or make it a far less appealing option to anyone considering this method to smuggle things out of your store. Buy a long handle 3-prong garden rake. When employees ask to take out the trash, accompany them, and have them hold the can up on the edge of the dumpster while you rake out the trashcan contents. What you are looking for are things that might have been hidden in the trash, but you can tell your employees that you are merely making sure that small wares aren’t being accidentally thrown away. During the 15-years I owned and managed restaurants, I discovered everything from six-packs of beer, bottles of wine, and packages of steaks hidden in the trash!

    Another situation that will create an ideal opportunity for employees to steal from you is having only one person working in your store. If your baker comes in each morning a hour before you or the next employee, or if one person is left to clean and lock-up the place at the end of the day, opportunities for theft abound. As the old saying goes: when the cat’s away…

    Always try to have at least two people in your store at all times. If there is not justification for having a second employee on the clock, then you will need to be that second person. If this requires you going from a 60-hour workweek to 80-hours, then this may not be a tolerable option. If this is the case, then at least invest a couple of hours more each day for a week or two to do some detective work.

    During those times of day when only one employee is working, park at the far end of the parking lot, or across the street, so that you will reduce the chance of being noticed by your employee. If they are familiar with your vehicle, use your spouse’s or friend’s vehicle for a few days. Watch carefully (with binoculars if necessary). I know this all sounds a little CSI – like, but better to rest-easy, feeling fairly assured that your employee isn’t carrying away your store when you’re not watching. If I had the time, I could tell you countless stories of my experiences in catching employees red handed, loading the trunks of their cars.

    If you suspect that theft of product might be occurring, but you’ve seen no direct evidence of it, then conducting a daily key item inventory may shed some light on the situation. Write down a list of 15 to 20 products that you think would be most appealing for someone to steal. In your coffee business, this might include items such as coffee, syrups and sauces, smoothie puree, biscotti, cookies, and desserts, sandwich meats & cheeses, and of course beer & wine (if you serve those from your operation). Then take an inventory of these items every day. Your employees don’t need to know what you are doing, and if they ask, simply tell them you are taking an inventory for ordering purposes.

    What you are looking for are anomalies in usage. For example, let’s say that from your daily inventories you assess that you use about half a gallon of chocolate sauce per day. Then, one day you notice you used 1 1/2 gallons of chocolate the previous day. This should send up a red flag! Why did you go through an extra gallon of chocolate? Were you significantly busier yesterday, or did you featuring several drink specials which contained chocolate sauce? A quick review of individual item sales from yesterday’s cash register report should provide you with the answer. If you average one ounce of chocolate per beverage, then using 1 1/2 gallons means you should have sold approximately 192 beverages containing chocolate (128 oz. per gal. x 1.5 = 192). If this was the case, no problem. But, if you discover that you only sold 64 beverages containing chocolate, then 128 oz. (or 1 gallon) is unaccounted for and missing! A good indication that it probably walked out the door. If this happens, keep track of who was working on the day of the shortage. If this happens continually, eventually you will discover that the same person or persons were working every time.

    Theft of money by employees:

    Hopefully, none of your employees will have the desire to steal products from you, but some will be tempted by the lure of cold, hard, cash. Everyone could use an extra $20 a day. Employees who steal money from you will definitely hurt your bottom line, and must be eliminated.

    The first way to reduce cash theft is to have a cash handling policy in place that will discourage theft. If multiple employees are using the cash register, and no one person is responsible, then I can almost guarantee that your cash drawer will keep coming up short on a regular basis. The fact that no one person can be held responsible for the shortages, will make grabbing a bill or two easy and appealing.

    Implement a policy that one, and only one person is responsible for the cash register for the entire shift. They should count the drawer at the beginning of their shift to verify that they are starting with the designated change bank. Then, they should be the only person to ring up sales and make change. Even you, the owner/manger, should keep your hands out of their cash drawer. Finally, at the end of their shift, they should set aside the amount they started with in the change drawer, and total all the remaining cash, checks, and charges, and balance against what was rung up on the register. If they started with the right amount of money in the cash drawer, rang everything up, took all the money, counted back all the change, and they end up short… who’s fault is it? It can only be theirs. By implementing this simple policy, I once took an operation that was coming up $100 a day ($3,000 a month) cash short, and reduced it to $3 a day, in just 30 days! That’s over a $2,900 bottom line improvement, (in case you didn’t do the math)!

    The other common method that a cashier might use to steal money from you is by using a method called, building a bank. This is the process of not ringing up items on the cash register, while still taking money from the customers, and then pocketing that money. Typically, they will obscure the view of the cash register display on the customer’s side with something like a flower, retail merchandise, or by turning the display so that it cannot be easily seen. Then, they will pretend to ring up an item, but will hit the no sale key instead, popping the drawer open so they can take the cash and make change, but in reality, they haven’t rung up anything. The other thing they might do when it is busy is to just not shut the drawer between transactions. They simply convey verbally the cost of items ordered by customers and take the cash, but once again, nothing has been rung up.

    A cash register that prints out the order on a remote receipt printer to the person who will be preparing the item, can eliminate this problem. Quite simply, if the item isn’t rung-up, it won’t print out. If your barista or cook won’t prepare anything without a receipt (and they shouldn’t!), it will force your cashier to ring everything up.

    If you observe that the cash register’s display has been blocked from the customer’s view, or there are an excessive number of no sale indications on your cash register’s detail tape, or notice that your cashier is not shutting the drawer between transactions, beware! While these may not be indisputable proof that your cashier is stealing from you, they should certainly heighten your vigilance to find out if something is going on.

    If your coffee business only warrants having one employee working at a time, perhaps because you own a cart, kiosk, or low volume drive-through operation, then how do you go about keeping your employee from building a bank and stealing from you? The best solution I’ve seen is to turn your customers in to watchdogs. Affix a sign to the front of your cash register, in plain sight of the customer, that reads: If you don’t receive a receipt with your order, it’s FREE! This will force your cashier to hand each customer a receipt for their purchase. If they are building a bank, this means they will have to hand the customer a receipt that says – NO SALE; something they probably won’t fell comfortable doing!

    The financial impact of theft of money can be extremely damaging, for example: Let’s say you have a cashier who is skimming off $20 a day by not ringing things up, and then pocketing the money. Not only did you loose the stolen $20, but the $7 of ingredients that were probably used to produce the ordered products; ($20 x 35% ingredient cost = $7.00). So in reality, you lost $27, and it will take an additional $41.54 in sales, to recover this loss; ($41.54 x 65% gross profit = $27). $27 a day lost to theft, X 21 days worked by the employee = $567 lost cash & product per month; $872 extra sales required to offset this loss. (Annual loss, $6,804; $10,468 in additional income required to offset loss.) You must stop theft of money!

    Theft of money management:

    If you have a manger running your operation for you, this can really create an opportunity for cash theft. Just about anyone who has ever run a food service operation (self included), probably felt that they were over-worked and under-paid. Some are tempted to grant themselves an unapproved raise. Your manger has the control key to the cash register, which means they have the ability to back off items that were sold. You would be wise to check your cash register detail tapes on a regular basis. If you see multiple items backed off in groups, or more worrisome yet, all backed off at the very end of the shift, beware!

    A good way to keep this from happening is to establish a policy that no over-rings are to be backed off of sales on the cash register with the management control key. Instead, when the cashier makes an over-ring, they should take the receipt, write over-ring on it, sign it, and put it in the cash drawer. At the end of the shift, the total of all over-rings should be manually backed off of the sales total indicated on the cash register report.

    Many years ago I had a manager that was stealing money from me in another creative way. This manager, who opened the store each day, would reset the cash register by Z-ing it out after the first half hour of business. He would then pocket the proceeds earned during that first half hour. Because additional sales were generated during the second half hour, the cash register hourly sales report would always show sales for the first hour of operation, thus eliminating any suspicion that something might be going on.

    It wasn’t until I was doing a routine audit of cash register Z tapes that I noticed something wasn’t right. When you run a Z report, which resets the cash register at the end of each day, a multi-digit number will usually be printed somewhere on that tape. The next time you Z the register, that number will advance by one digit. I noticed that even though the tapes were sequential in date, every other number was missing. This tipped me off that the register was being Z-ed twice a day! When I confronted my manager with the tapes, his look of panic spoke volumes.

    If you are doubting the honesty of any of your employees or managers, one way you can verify or eliminate your suspicion is by baiting the cash drawer. Slip an extra $20 bill in the drawer sometime during the day when they aren’t watching. If they don’t end up reporting at the end of their shift that they were $20 cash-over, I’ll do it a second time (just to make sure). If they don’t report it a second time, you should have no doubts that they are indeed, dishonest.

    NEVER accuse an employee or manger of stealing unless you catch them red-handed (actually stuffing money into their pockets). Even though the circumstantial evidence may be overwhelming, unless you actually catch them in the act, they are likely to deny your accusations, and will probably file a complaint against you with the department of labor! The brief moment of satisfaction you will gain from letting them know you are aware of what they’ve been doing, will be quickly overwhelmed by the legal predicament you will find yourself in. You will be far better off to not make accusations. Simply terminate their employment. In many states, you do not need to provide a reason as to why you are letting them go. When they ask for an explanation as to why you are firing them, simply say: I don’t need to give you a reason, I’m just letting you go, goodbye!

    Finally, don’t over look technology to help you with security. Surveillance cameras linked to a DVR (digital video recorder) can provide you with peace of mind, or evidence of theft. These systems have become very affordable, and many are easy to install. The value of these cameras go beyond having a video record of operations. The mere fact that employees understand that their activities are being video recorded, will usually discourage them from doing things that they might not think twice about, if no one was watching.

    I think it’s important to not be paranoid about employee theft. Certainly, you don’t want to be constantly obsessed with the suspicion that everyone is stealing from you. In reality, the majority of your employees are probably honest people. But, you would be wise to establish some simple safeguards, and maintain a watchful eye.

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    Source by Ed Arvidson

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  • Gifts of a Sand Dollar

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    I guess this New York City girl is now a nature enthusiast to the extreme! Our recent sand dollar experience proves it.

    Do you remember that famous story about a girl that throws a starfish back into the sea one at a time along the shoreline? When the girl was told by an onlooker that what she was doing wouldn’t matter much, she replied “it matters to that one” and threw another starfish back into the sea.

    Well, I have a sand dollar story to share. The other day we happened upon a little island while boating and we couldn’t believe how many live sand dollars were in the water and on the sand, green, fuzzy and thriving. They weren’t white and dry like you buy them in a store. My kids were really interested in them and so were we adults, actually. Other kids were getting them out of the water and hauling them home, showing them off to us, and even offering them to us. My family enjoyed holding them and looking at them, but then we’d each throw the sand dollars back into the water… to keep on living… and we left with only memories as souvenirs.

    Now I wasn’t always like this. In fact, when I was a teen, my folks took me to the Bahamas and we had some natives dive down and get us a couple of starfish that we brought back as souvenirs. Back then it seemed like the most normal thing to want to do. I still remember the shock on my kids’ faces when they first would hear about my youthful vacation and the starfish experience, though. They invariably asked why would I do that because didn’t it kill the starfish? Boy that made me feel lousy.

    Turns out they had a very good point. I’ve learned from life, from my kids, I don’t know from where else exactly but now I feel the same way as the kids do. I wonder, why DID I want to do that? Oh well, the past is done. But now, we CAN save the sand dollars (and the starfish) one at a time at least.

    I guess the other day we all just wanted to save this little bit of marine life. We cared about the little guys in nature. I thought, “now what would happen if ALL the people who came here took the sand dollars out to keep as souvenirs? Then we wouldn’t have had the special magic we found for a little while together on that little strip of sand and sea. And my teenager wouldn’t have said “That was cool, let’s go back there. I liked all the sand dollars that live there”. This straight from the mouth of a known computer enthusiast who spends as much time as possible accompanied by his computer!

    With each passing year I can better see the importance of protecting and trying to save the environment and wildlife. Have I been better educated? Am I just more mature? Maybe. But I think it’s more because I can see the picture better through the eyes of my children who seem to see the world through a special focus and help me to see some facets that I might otherwise miss.

    So let’s not give up caring for the environment just because we think we can’t save it all or make a big enough impact. If we each do our small part, then we’ll be able to help keep nature’s magic around for ourselves and for our future generations to learn from and enjoy. We’ll play a supporting role in the drama of our living environment when we choose to receive and give… the gifts of a sand dollar.

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    Source by Liz Hekimian-Williams

    Views: 0

  • How Drug Detox Can Help Improve Relationships

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    Alcohol and drug abuse is the root cause of many problems in an individual’s life. From developing severe mental health issues and physical troubles to encountering serious challenges in one’s relationships, abuse of illegal substances is linked with innumerable adverse effects.

    It is a widely known fact that long-term, committed relationships and substance abuse do not go together. Having a partner who is engaged in drinking or abusing drugs can be an insurmountable challenge, with the negative effects rippling and influencing all the near and dear ones. In worst cases, substance abuse problem can take a heavy toll by causing an emotional distance between the partners, which eventually results in frequent fights and violence at home.

    Sadly, a person fighting substance abuse is deprived of the emotional connect with his or her partner resulting in the loss of trust and affection. Overall, such couples have a tough time dealing with this downward spiral, wherein a person drinks or uses drugs to reduce tension arising out of frequent conflicts, and vice versa.

    Substance abuse and impact on relationships

    A person abusing drugs is very likely to have a poor sex drive and may fail to maintain a healthy sexual relationship. This is because when someone is addicted to any substance, there is no room left for anything else. Some of the telltale signs that the substance abuse problem is negatively affecting one’s relationships are:

    • Not taking care of responsibilities or staying out late.
    • Rising instances of domestic violence.
    • Isolating from friends and relatives to hide the drug or alcohol problem.
    • Experiencing financial problems.

    When it comes to intimate relationships, believing that one can prevent problems by avoiding sexual relationships post sobriety is incorrect. A complete recovery is possible only when a person gets enough love and care from his or her partner. Since intimate relationships are considered one of the most rewarding parts of human existence, a lack of it can leave people feeling unwanted and incomplete.

    For a person recovering from an addiction, lack of sexual relationships might lead him or her to revisit the places that had triggered drug or alcohol abuse.

    How detox can be helpful in restoring relationships

    When a person fighting substance abuse enters a detox program, he or she needs to work harder to recover from the addiction and regain his or her ability to enjoy fruitful relationships with the loved ones. While undergoing treatment, it is important for a person to not just focus on maintaining sobriety but also reshape his or her habits and old attitudes that could act as a barrier to his or her interpersonal or intimate relationships.

    While detoxification might pave the way for a person’s recover from an addiction, it is important to ensure that it also brings back his or her sexual drive. With low self-esteem and confidence, it becomes difficult for the recovering individual to even think about any personal relationship. Undergoing a detox program can be a great help in gaining enough confidence to deal with relationship problems.

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    Source by Barbara Odozi

    Views: 0

  • 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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