The different types of budgeting systems

The different types of budgeting systems Budgeting systems of different types, usually customised to the needs of individual organisational managements, are in use in various types of organisations, business, governmental and not for profit, across the world. The use of traditional budgeting has in recent years come under intensive critique by different academic and experts for its detrimental impact on different organisational areas and especially upon the overall performance of organisational employees and consequently of organisations. Such developments present a difficult conundrum to organisational managers of the actual utility of budgets in performance management and control. This dissertation takes up the investigation of the role of budgeting in organisational performance, especially so in planning and control of organisational activity, both in theory and in practice. The information obtained from intense study of literature is augmentation by the investigation of budgeting practices at two leading fast food and restaurant chains, Pizza Hut and Burger King. The research reveals that whilst traditional budgeting practices dominate organisational policies for planning and control, modern budgeting concepts are slowly being adopted by organisations with some success. 1. Introduction 1.1. Overview Budgeting systems of different types, usually customised to the needs of individual organisational managements, are in use in various types of organisations, business, governmental and not for profit, across the world (Andrews Hill, 2003, p 135-158). Traditional budgeting methods emerged as important management tools in the pre Second World War era, when Fordist and Taylorist management principles directed the working of most business organisations (Grizzle Pettijohn, 2002, p 51-58). Traditional budgeting techniques involve the comparison of actual organisational performance in different areas of work with budgeted targets, the computation of variances between budgeted targets and actual performance, and the analysis of both favourable and unfavourable variances in order to determine the reasons for such differences (Pilkington Crowther, 2007, p 29-30). The chart provided hereunder explains the sequence of budgeting activities and the relationship of the process to internal and external factors (Tales, 1998, p1). Variance analysis helps in corrective action during the currency of an operating period and helps organisations to achieve various objectives. Analysis of variances and comparison of actual achievement with budgeted targets help in the measurement of performance of responsibility heads, managers, groups of employees, and individual employees (Pilkington Crowther, 2007, p 29-30). Budgetary control has over the years been found to be very useful for planning and controlling of organisational performance (Chapman et al, 2007, p 7-51). Budgets have also been found to be useful in the monitoring and achievement of group objectives and in the facilitation of team work (Chapman et al, 2007, p 7-51). Budgeting, despite its inherent utility in the planning and control of organisational performance, has come under increasing criticism from modern day management accounting experts like Kaplan, Argyris, Hofstede, and Hopwood, who argue that lack of thought and rigidity in the use of budgeting essentially results in the development of Theory X type management control tools that can cause various organisational problems like increased stress upon employees, organisational disagreement and dissention with inappropriately set budgets, and organisational de-motivation (Chapman et al, 2007, p 7-51). Recent years have seen the development of modern budgeting techniques like the balanced score card, rolling budgets and beyond budgeting techniques (Chapman et al, 2007, p 7-51). Whilst such new concepts in the area of budgeting are undoubtedly being taken up for discussion, study and implementation by some progressive firms, the overwhelming majority of business organisations continue to use traditional budgeting techniques suitably customised to the circumstances and needs of individual organisations (Chapman et al, 2007, p 7-51). 1.2. Purpose of Study The use of traditional budgeting has in recent years come under intensive critique by different academic and experts for its detrimental impact on different organisational areas and especially upon the overall performance of organisational employees and consequently of organisations. Such developments present a difficult conundrum to organisational managers of the actual utility of budgets in performance management and control. This dissertation takes up the investigation of the role of budgeting in organisational performance, especially so in planning and control of organisational activity, both in theory and in practice. The information obtained from intense study of literature is augmented by the investigation of budgeting practices at two leading fast food and restaurant chains, Pizza Hut and Burger King. This dissertation should hopefully help students, managers and academics through the generation of new perspectives in the area and help in improving the process of planning and control of organisational activities through the use of appropriate budgeting techniques. 1.3. Aims and Objectives The aims and objectives of this dissertation are now elaborated as under: To examine the elements of budgetary control and its application in actual practice. To examine the various actions involved in the preparation and planning of budgets, with special reference to the role and importance of accurate information inputs. To examine the key resources required by firms for gathering of information for the preparation and planning of budgets. To examine the limitations of budgeting. To examine recent developments in budgeting and recommend the adoption of the most appropriate system of budgetary control by organisations. 1.4. Structure This study has been sequentially structured. This introductory section is followed by a literature review and thereafter by the formulation of appropriate research questions. Subsequent sections take up the description and explanation of the adopted research methodology, the data obtained from such research, the analysis of data, and finally conclusions and recommendations. An extensive alphabetical list of references at the end of the study provides details on all source material used for the dissertation. 2. Literature Review This review of existing literature attempts to examine the published material available in the public domain on the issue of budgeting and its role in performance management of organisations, departments and employees. Budgeting emerged as an important management accounting and management control tool in the early years of the 20th century and forms a staple item of all text books on financial management and management accounting (Davila Foster, 2005, p 1039-1068). The budgeting process came under severe criticism in the 1980s with the publication of critiques budgeting by experts like Kaplan, Argyris, Hofstede and Hopwood. Recent years have seen the emergence of newer budgeting techniques like flexible budgeting, rolling budgets, the balanced score card approach, and beyond budgeting techniques (Davila Foster, 2005, p 1039-1068). 2.1. Role of Budgeting in Planning and Control Activities Planning and control are agreed to be among the most important of organisational managerial activities (Bhatnagar, et al, 2004, p 92). Budgets play a central and key role in the planning and control processes of business firms. The importance of budgets in planning and controlling functions makes management accounting and the provisioning of management information a critical organisational function. Surveys of UK business and industry reveal that most business organisations use budgeting techniques of some form, even as larger organisations have institutionalised and developed budgeting mechanisms (Bhatnagar, et al, 2004, p 92). The role of budgeting is best examined by locating its place within the wider framework of organisational planning and control (Carruth Digregorio, 2003 p 13-26). The chart provided hereunder explains the relationship of budgeting in the larger control framework of a firm. Management and operational control form very important components of the broader framework of planning and control. Management control represents the process through which managements ensure the execution of pre-determined strategies by their organisations (Carruth Digregorio, 2003 p 13-26). The process is essentially short term in nature, implemented through middle rung managers, and forms an important routine management activity. Operational control on the other hand represents the process of ensuring the efficient and effective conduct of specific tasks. The time spheres for such controls are short term, consist of periods that can extend from a day to a month, and are executed through junior managers (Pilking ton Crowther, 2007, p 29-30). With regard to planning, the use of budgets calls upon and directs managers to think ahead about the utilisation of resources for achievement of company policies and objectives in their area of work (Grizzle Pettijohn, 2002, p 51-58). Such planning involves the obtaining of relevant, accurate and valid information, (either from reliable historical sources or by logical estimation), the analysis and appropriate extrapolation of such information, and its use for projection of future operational figures in different areas like sales, production, income and expenditure (Grizzle Pettijohn, 2002, p 51-58). The relevance and effectiveness of budgets is to a large extent dependent upon the accuracy of information on which it is based (Hassel Cunningham, 1996, p 245). The overwhelming majority of budgeting exercises make use of historical information that is available within organisations. Important environmental information is also however often used by management accountants for projecting future developments and their impact on performance (Hassel Cunningham, 1996, p 245). Inaccurate or unreliable information can, it will be obvious, erode the reliability and credibility of the assumptions on which budget preparation is based, and therefore invalidates budgets (Craig, 2002, p 57). Modern day organisations, especially if they are large, adopt elaborate and complex methods for retrieval, study, investigation and analysis of the data needed for budgets. Manual accounting inputs for preparation of budgets have largely been discarded by most organisations (Craig, 2002, p 57). Complex acco unting and information retrieval systems that span departments, functions and geographies are used by most large organisations. Modern day Enterprise Resource Planning (ERP) plays an important role in the provisioning of management information in the preparation of budgets (Hassel Cunningham, 1996, p 245). The control function of budgets is executed through the allocation of responsibility to specific individuals for the achievement of specific budgeted targets and by the comparison of actual performance with budgeted targets (Craig, 2002, p 57). Such comparisons result in the establishment of positive or negative variances and reveal the extent to which people with responsibilities have been able to achieve their specified tasks. The extent of variance denotes the margin of success or failure (Pollitt, 2006, p 25). The reasons for such variances can be examined to ascertain the causes of success or failure of employees with accountability. Budgets have traditionally proved to be effective in performance control because they (a) establish specific, pre determined, and logically computed targets, (b) allocate responsibilities to specific organisational employees for achievement of targets, (c) establish widely known and uniform performance yardsticks and benchmarks, (d) provide a basis for assessment of actual performance and (e) pinpoint the people who can be held to be responsible for organisational failure, and (f) allow for analysis and determination of causes of failure (Pollitt, 2006, p 25). Budgets help in controlling performance by establishing benchmarks for performance and consequently for rewards against such performance (Andrews Hill, 2003, p 135-158). Organisational employees are often promised and provided rewards on the basis of their success in achieving targets in different areas of work (Andrews Hill, 2003, p 135-158). 2.2. Limitations of Budgeting Budgeting undoubtedly constitutes a critical and essential component of management control techniques that are employed by business firms for planning their future actions and thereafter controlling them. Whilst the importance and role of budgeting in achievement of organisational objectives and competitive advantage is widely accepted and also illustrated by the fact that the overwhelming majority of business firms across the world engage in some type of budgeting activity, the process has come under severe criticism in recent decades (Chapman et al, 2007, p 7-51). Experts like Kaplan have argued that traditional budgeting techniques have essentially not changed over the last 70 years and have become increasingly inappropriate for the modern day economy and the changed internal and external environments in which business firms operate (Chapman et al, 2007, p 7-51). Whilst traditional budgeting operates both on top down and bottom up approaches and are based both upon historic information and current information that is available in the public domain, budgets are in the overwhelming majority of cases finally decided by top management and imposed upon different levels of organisational managers (Chapman et al, 2007, p 7-51). Such imposition of budgets and their association with performance measurement, rewards, remuneration, and career progression of organisational employees leads to the development of various complexities, some of which are elaborated as under. Budgets are very infrequently felt to be fair and right. Budgeted targets are by and large felt to be either too soft or too hard, depending upon the perspectives of different persons (Hassel Cunningham, 1996, p 245). Such perceptions often lead to organisational dissention and ill will between subordinates and superiors and broad resentment of employees against organisational authority (Chapman et al, 2007, p 7-51). Soft budgets are felt to be contradictory to organisational well being and build environments of complacency and slackness. Difficult budgets on the other hand often prove to be unattainable and lead to de-motivation, resentment, criticism, dissension, and ill will. It is thus not an easy task to formulate a budget that furthers organisational objectives, stretches organisational employees to improve their performance, and acts as a good motivator and fair tool for judgement of performance (Hassel Cunningham, 1996, p 245). Argyris and others have pointed out that group attitudes towards budgets significantly affect performance and ultimate achievement of budget targets (Smith, 2001p 1). Geertz Hofstede elaborates that appropriate setting of targets is also very important for achievement of budgets. Hofstede states that whilst group participation was important, the attitudes of senior managers, especially the game spirit with which they play the budget game form a key ingredient of the budget process. (Hofstede, 2003, p 12-18) Hopwood (1972) identified different styles of budgeting, the budget constrained style, the profit conscious style and the non-accounting style. Whilst all three styles exerted pressure on workers, it was only the profit conscious style that drew involvement without eliciting defensive approaches (Hopwood, 1972, p 156-182) Hope and Bunce assert (2003) that autocratic and rigid budgeting approaches lead to the development of organisational bureaucracies that focus on finding fault with employee performance, rather than motivation and encouragement (Hope Bunce, 2003, p 1). Undue emphasis on achievements of budgets can divert management attention from other important organisational aspects like the importance of quality and staff morale with detrimental impact upon organisational wellbeing (Hassel Cunningham, 1996, p 245). The association of monetary and career rewards with the achievement of budgets can lead to a range of unethical activities like fudging of figures, window dressing of performance, and skirting with the law. The wrong decisions taken by managers of banks and financial institutions, (which greatly contributed to the development of the financial crisis of 2008) are closely related to the greed of managers to access the performance bonuses that were linked to achievement of ever-increasing performance targets (Chapman et al, 2007, p 7-51). 2.3. New Developments in Budgets Dissatisfaction with important aspects and outcomes of traditional budgeting principles has led to extensive research in alternative methods of optimisation of organisational and individual control and performance (Hearn, et al, 2006, p 286). Such efforts, both in areas of theory and practice, have resulted in a number of alternative approaches and modifications to traditional budgeting theory and practice. Some of the more important of these developments are represented by flexible budgeting, rolling budgets, the balanced score card approach and beyond budgeting principles (Hearn, et al, 2006, p 286). Rolling budgets are prepared for 6-9 months in detail, (unlike traditional financial budgets that are made for complete financial years), followed by broader and less detailed budgets that extend to 1  ½ to 2 years (Subramaniam Ashkanasy, 2001, p35). Flexible budgets on the other hand deal with operations and contain different estimates for various products and services (Subramaniam Ashkanasy, 2001, p35). Such methods allow for changes in costs or volumes and allow organisations to respond swiftly to changing situations and thereby maintain profitability and competitive advantage (Subramaniam Ashkanasy, 2001, p35). The balanced score card approach aims to translate strategy into practice from four dimensions, namely customer, financial, learning and growth, and business processes (Bhatnagar, et al, 2004, p 92). Its use helps organisations to pay attention to different aspects of organisational performance over the length of business cycles, which are longer than traditional budget periods and thus essentially more volatile. The use of this approach, along with Key Performance Indicators, (KPIs), enables organisations to built holistic targets and track performance in different dimensions (Bhatnagar, et al, 2004, p 92). Beyond Budgeting is a comprehensive and elaborate holistic approach that incorporates modern concepts like rolling budgets and the balanced score card approach and focuses on two groups of principles related with performance management. The first group of principles is process oriented, whilst the second set is leadership oriented. Taken together Beyond Budgeting principles enabl e organisations to motivate their employees, improve performance and enhance organisational creativity (Bhatnagar, et al, 2004, p 92). 2.4. Framing of Research Questions The research questions for this dissertation, framed in line with the aims and objectives of the dissertation and the results of the literature review are detailed as under: How does budgetary control help in planning and controlling of performance of employees? How are budgets used by successful organisations (Pizza Hut and Burger King) to plan and control performance? How do organisations ensure accuracy of information for preparation of budgets? What types of resources are used by organisations to gather information and prepare budgets? What sort of constraints and limitations do modern day organisations face in using traditional budgeting techniques? What measures can be adopted by organisations to make budgeting exercises more effective in planning and controlling performance? 3. Research Methodology 3.1. Important Research Factors Research in areas of finance, management, and business come under the broad ambit of economic research (Bryman Bell, 2007, p 12-28). The research methodology for such assignments is by and large determined in accordance with the tenets of social research and is of course shaped by the nature of the subject under investigation and the infrastructural and other resources available with the researcher. The determination of appropriate research methods and techniques involve the choice of specific research methods and the most suitable sources of information (Bryman Bell, 2007, p 12-28). 3.2. Quantitative and Qualitative methods of Research Social research methods are shaped by two broad and quiet different research approaches, namely the quantitative approach and the qualitative approach. These approaches are shaped by different epistemologies and involve the utilisation of different research techniques, both for obtaining and for analysis of data (Darlington Scott, 2002, p 33-47). The quantitative approach is guided by positivist epistemology and is closely related to scientific research methods (Darlington Scott, 2002, p 33-47). Quantitative approaches involve the application of scientific theory and aim to measure the responses of research subjects in easily quantifiable and numerical terms. Such methods are used in the majority of economic and business research efforts and are particularly useful in the gauging of broad trends of thoughts or opinions of chosen populations (Darlington Scott, 2002, p 33-47). Qualitative methods of analysis are essentially different and are used when the issue under study is subjective in nature and open to different ways of interpretation (Neuman, 2005, p 18-36). Qualitative research methods are shaped by interpretivist epistemology and involve detailed investigation of complex subjects that are often multilayered and incapable of being answered with yes or no responses. Such research is most appropriate for issues that involve questions that are what, why and how in nature and are best conducted by expert and involved researchers (Neuman, 2005, p 18-36). Qualitative research is far more time consuming and detailed than quantitative research and is mostly conducted with the help of direct one-to-one interviews and focus group discussions, in which researchers participate with the subjects under study and observe their reactions and responses in minute detail (Neuman, 2005, p 18-36). Whilst most research assignments call for the use of either quantitative or qualitative methods, some complex and multidimensional issues require the use of both techniques (Neuman, 2005, p 18-36). 3.3. Choice of Information Sources Information sources are broadly categorised into primary and secondary sources. Secondary information sources consists of all the information on the subject that is available to the public at large in the form of published material, more specifically books, articles, both journal and magazine, and other publications (Bryman Bell, 2007, p 12-28). Primary information is however obtained from sources that are part of or are integral to the subject under study (Bryman Bell, 2007, p 12-28). Whilst primary information is most commonly obtained from interviews and focus group discussions, such information is also available from specific public domain sources like organisational or departmental publications, publications authored by the subjects under study, interviews given by them to reliable media publications, and otherwise from information disseminated through personal or organisational websites. (Bryman Bell, 2007, p 12-28). 3.4. Adoption of Research Methodology The subject issue, as detailed by the aims and objectives, the literature review and the research questions of this study, is essentially complex, multilayered and open to interpretation in different ways (May, 2001, p 41-59). The use of budgeting techniques for planning and controlling performance in business organisations is an intensely debated topic and has multiple aspects. The interests of research on this issue will certainly not be appropriately served with the use of yes/ no/ multiple choice surveys administered to sample population groups (May, 2001, p 41-59). The elimination of quantitative methods of research for the assignment by extension also removes the relevance of mixed models and leaves only qualitative methods for use (Neuman, 2005, p 18-36). This research study therefore uses only qualitative methods for researching information. The research approach has been formulated on the basis of the aims and objectives of the dissertation and the information unearthed during the literature review (Neuman, 2005, p 18-36). This research effort attempts to obtain answers to the research questions through a detailed investigation of the budgeting practices of two well known and successful organisations in the fast food and restaurant industry, namely Pizza Hut and Burger King UK. Information for research has been obtained from a host of secondary and primary sources (Neuman, 2005, p 18-36). Study of information available in the public domain on the use of budgets for planning and control of performance in these organisations will provide a balanced multi-prospective view of their organisational policies and practices (Neuman, 2005, p 18-36). Primary information is sourced from an examination of organisational websites, observation of their work processes onsite and informal open ended discussions with members of their staff. The information obtained from secondary and primary sources has been carefully collated and thereafter subjected to appropriate analysis (Neuman, 2005, p 18-36). 3.5. Ethics Appropriate care has been taken to ensure the adoption of ethical rules and norms that are pertinent to business research (Bryman Bell, 2007, p 12-28). All information sources used for the purpose of study have been acknowledged carefully and comprehensively. All participants have been informed of the nature of the assignment and its purposes. Respondents have been informed of their right to confidentiality and of refusing to answer all or any of the questions asked of them. All respondents have also agreed in writing of their unilateral and unforced willingness to participate in this study (Bryman Bell, 2007, p 12-28). 3.6. Limitations The results of this study are limited by the actual reading carried out by the researcher. Whilst efforts have been made to ensure extensive examination of available literature, it is always possible that some important information may have been missed out (Darlington Scott, 2002, p 33-47). The actual investigation of businesses for ascertainment of budgetary control in practice is also restricted to two organisations, which may well be unrepresentative of the entire business fraternity. The result of this research study is subject to these limitations (Darlington Scott, 2002, p 33-47). 4. Data and Findings Information for research has been obtained from a range of secondary and primary sources. Secondary information on budgeting at Pizza Hut and Burger king has been obtained from information available on the subject from a range of sites in the public domain, even as primary information has been obtained by study of their organisational web sites. The information sources used for secondary information on budgetary control for Pizza Hut and Burger King have not been cited here but have been placed together at the end of the list of references for easy access. Primary information has also been obtained by visits to retail outlets of Pizza Hut and Burger King in London, observation of the work processes at these outlets and open ended conversations with their employees. It has been difficult to obtain relevant information on budgeting because information about budgeting practices belongs to the private information domain of the companies and is not openly discussed at public forums. The employees at such outlets are also more involved in servicing customers and their knowledge of budgetary control methods is restricted. Relevant information has however been accessed from discussions with middle managers at Pizza Hut stores and franchise representatives at Burger King. The information obtained from study of public domain information, onsite observations and interviews with middle managers of Pizza Hut and Burger King are provided below: Information from Study of Public Domain Information of Pizza Hut Pizza Hut is a US headquartered multinational chain of restaurants that offers different types of pizzaà ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒ ¢Ã¢â‚¬Å¾Ã‚ ¢s and associated foods. The chain which belongs to Yum brands operates in more than 100 countries, contains approximately 34,000 outlets of different types and employees more than 30,000 people. The company is headquartered at Addison Texas and has grown enormously since its founding in 1958. The company operates its own stores in the majority of its locations in the US. It does however have some franchised units in countries outside the United States. The company is well known for its high quality and standard food and has faced very few quality complaints. The HR section on its website and information obtained from the public domain state that the company pays great attention to the selection, recruitment, training and performance of its employees. Pizza Hut operates a complex and detailed management information system with the help of extensive computer systems that connect all its global units with regional headquarters and to organisational headquarters at Texas. The computer systems used for the management information function are modern and constantly updated. Budgetary control forms an integral element of Pizza Huts overall management information system. The budgetary control system is extremely detailed and is prepared for every quarter of a calendar year. Budgets are multi dimensional and monitor both operational and financial aspects of the organisation. Budgets are prepared for all departments, all functions and for each restaurant operated by the chain. Much of the purchasing functions are done through annual regional contracts and employee of local retail outlets are not involved in these functions. Employees of retail outlets are however expected to add to organisational sales and competitive advantage through constant improvement of customer relationship and customer satisfaction. The chain has recently introduced the balance score card method for improving the performance of employees at retail outlets. Employees at Pizza Hut outlets are now assessed on a variety of counts that concern the provisioning of customer service, the achievement of customer satisfaction, the improvement of customer relationships and finally of the quantum of repeat customers. The company proposes to extent the balance score card method of budgetary and performance control to other areas of work. Information from Study of Public domain Information of Burger King Burger king is also a US headquartered international chain of fast food restaurants. Headquartered in Florida. Burger King is the second largest seller of hamburgers in the world. It has approximately 12,000 outlets, operates in 73 coun

Investigation Into Osmosis :: Papers

Investigation Into Osmosis Aim === The aim of this experiment is to compare the change of mass of potatoes when they are in a Starch and water solution. The reason the mass would changes is due to osmosis. Introduction ============ [IMAGE] Osmosis is the process of water passing from a region of high concentration of water, through a semi-permeable membrane to a region of low water concentration. Osmosis occurs when there is more water on one side of the cell than the other. In the example to the right the small blue particles represent water. There are more of the small blue particles on the left-hand side so the number of water molecules on each side would even out until the water cells are in equilibrium. The experiment we are doing is to see how much of the water has diffused and how much mass the potato lost or gained. Variables ========= I chose to investigate the mass of potato and volume of solution lost or gained when potato is put in water/ sucrose solution. The variables I didn't change were:  · Start volume of solution  · Start mass of potato  · Surface area of potato  · Amount of sunlight  · Length of time  · Type of potato  · Temperature The variables that I changed were:  · Concentration of sucrose/ water solution. Preliminary work ================ We did a preliminary experiment to check that the measurements and amount time would give us clear enough results. Method ====== We took three test tubes with 10ml solution in each. One with 0M sucrose One with 0.5M sucrose and the other with 1M sucrose, a test tube rack, three bungs and three pieces of potato. We weighed the three pieces of potato and cut them down to make them the same mass to make it a fair test. Then we made the water/ sucrose solution using these measurements:

Andrew Wakefield and the Mmr Autism Fraud

ANDREW WAKEFIELD AND THE MMR AUTISM FRAUD In February 1998, Dr. Andrew Wakefield, a British gastroenterologist, published a research paper in which he linked autism and bowel disease to the measles, mumps, and rubella (MMR) vaccine – creating a public health crisis in England and raising questions about vaccine safety in North America. Additional studies have since shown that the data presented was fraudulent, and after ten years of controversy and investigation, Dr. Wakefield was discredited, his licence revoked and his research discarded.The damage, however, had been done – vaccination rates in the industrialized world are down to such an extent that it has brought back diseases that have not been seen for decades. The article in the British medical journal The Lancet claimed that the three-in-one measles, mumps and rubella vaccine (MMR) was causing inflammatory bowel syndrome and brain damage in children. The five-page paper, which was backed by a press conference, p rovoked substantial media interest. Dr.Wakefield reported on twelve cases of children with what he called â€Å"regressive autism†, who had been admitted to the Royal Free Hospital in Hampstead (London) between July 1996 and February 1997, all within 14 days of receiving the MMR vaccine. These previously healthy children, the study claimed, suddenly lost basic language and communication skills. Wakefield theorized that the three vaccines, given together, can alter a child’s immune system, allowing the measles virus in the vaccine to infiltrate the intestines; certain proteins, escaping from the intestines, could then reach and harm neurons in the brain. It's a moral issue for me,† he announced at the 1998 press conference, where he advocated breaking up the triple MMR vaccine into single measles, mumps and rubella shots, to be given at yearly intervals. â€Å"I can't support the continued use of these three vaccines, given in combination,† he said, â€Å" until this issue has been resolved. † As the doctor campaigned, vaccination rates in the UK and Ireland dropped sharply. Wakefield supporters even involved Prime Minister Tony Blair by suggesting that his youngest son was not vaccinated with MMR.Although at the time, Mr. Blair refused to discuss the issue for privacy reasons, he did say that, â€Å"For the record, Cherie and I both entirely support the advice, as we have consistently said. It is not true that we believe the MMR vaccine to be dangerous or believe that it is better to have separate injections, or believe that it is linked to autism. On the contrary, the vaccine, which is used throughout the world, helps prevent the spread of diseases that can, if contracted, cause very serious damage to children. It was later confirmed that Leo Blair had been inoculated. In November 2000, Wakefield appeared on CBS’ 60 Minutes, linking the â€Å"epidemic of autism† to the MMR vaccine. This set off a spiral of theor ies that all vaccines are suspect: either due to their content, or because children receive too many of them at the same time. The US movement attracted celebrities such as actress Jenny McCarthy, who blamed MMR for her own son’s autism. â€Å"In 1983 the shot schedule was ten. That's when autism was one in 10,000. Now there's 36, and autism is one in 150,† she argued. All arrows point to one direction. † Although the number of children diagnosed with autism has increased dramatically over the last twenty years, it is difficult to say if this is due to improved diagnostic practices or an actual increased prevalence of the disease. Several major studies, however, have ruled out a link with vaccines: †¢The October 2004 edition of Vaccine published a meta review that looked at 120 studies to assess potential side effects of the MMR vaccine. The authors concluded that a connection between MMR and autism is â€Å"unlikely†. A 2005 study compared autism rat es in Japan before and after 1993, when the triple MMR vaccine was broken into three separate vaccines that are administered at different times. It was found that autism is still on the rise. †¢In October 2005, the Cochrance Library published a review of 31 scientific studies, none of which found a link between MMR and either autism or bowel disease. Similarly, a 2007 review of independent studies performed after Wakefield’s publication in the Lancet demonstrated overwhelming evidence against the hypothesis of associating MMR with autism.In addition to the overwhelming scientific evidence contradicting Wakefield’s claims, British journalist Brian Deer discovered that in fact, the research had been funded to create evidence against the MMR vaccine. Wakefield had concealed, misreported and changed information about the children in his study. It turned out that two years before embarking on his â€Å"research†, he had been hired by a lawyer who planned to make big money from several class action lawsuits against companies manufacturing the triple MMR vaccine. â€Å"I have mentioned to you before hat the prime objective is to produce unassailable evidence in court so as to convince a court that these vaccines are dangerous,† the lawyer reminded the doctor in a confidential letter, six months before the Lancet report. The Sunday Times investigation also discovered that in June 1997, Wakefield had filed for a patent on a single measles vaccine – for the success of which he needed to discredit the triple MMR. After the fraud came to light in February 2004, the Lancet retracted the conclusion section of the report (they would eventually retract the whole article in 2010).From July 2007 to May 2010, the General Medical Council conducted the longest ever professional misconduct hearing. Eventually, they revoked Dr. Wakefield’s medical licence, citing medical, scientific and ethical misconduct. So why do parents still believ e in Wakefield’s hypothesis? Probably because anecdotes are more satisfying than scientific methodology, and the media are very good at telling the bad story and very bad at telling the real story. In the UK and Ireland, fueled by sensationalist media coverage, MMR uptake levels between 1998 and 2008 dropped from 92 percent to 73 percent. 5 percent vaccine uptake levels are required for herd immunity (i. e. , the point when diseases cannot spread in a population). In 2008, measles was declared endemic again in the UK. There were a total of 1,348 cases that year, up 36 per cent from the previous year and up a staggering 2,400 per cent from 1998, when there were just 56 cases. In 2006 a 13-year-old boy became the first person to die of measles in Britain since 1992, with a second child dying in 2008. In the United States, the herd immunity is crumbling as states make it easier for parents to opt out of the vaccinations that are usually required to enroll in school.A study publi shed in the journal Pediatrics (2010) by researchers from the University of Michigan showed that 12 percent of parents have refused at least one recommended vaccine for their children. As a result, diseases such as whooping cough and measles are making a comeback. In 2010, 9,500 cases of whooping cough were reported in California, the most in 65 years. Ten patients died, all of them infants too young to be vaccinated. And even though measles was declared eliminated in the US in 2000, 2011 saw the highest number of measles cases in 15 years. None of these cases resulted in death, but one out of three people had to be hospitalized.This then is Andrew Wakefield’s legacy – an elaborate hoax for financial gain that has set back the medical clock 100 years for millions of children whose parents refuse to accept overwhelming and sound scientific evidence and would rather expose them to the very real dangers of infectious disease. Another casualty, ironically, is autism itself . Significant time, energy and financial resources were wasted that could have been spent on research and developing new treatments. Mr. Wakefield has taken up residence in an affluent suburb of Austin, Texas. Although not allowed to practice medicine, he still lectures to an adoring audience. To our community, Andrew Wakefield is Nelson Mandela and Jesus Christ rolled up into one,† according to J. B. Handley of Generation Rescue. The WHO estimates that 380 people die of measles every day. ? SOURCES: Ahmed, Kamal. â€Å"Blair Baby ‘Has Had' MMR Jab. † The Guardian 23 December 2001. Asaithambi, Rathi. â€Å"Time to Get Tough on Vaccine Refusal. † Baltimore Sun 11 April 2012. Chivers, Tom. â€Å"MMR – Autism Scare: So, Farewell Then, Dr Andrew Wakefield. † The Telegraph 24 May 2010. Deer, Brian. â€Å"MMR: The Truth behind the Crisis. † The Sunday Times 14 November 2004. Deer, Brian. Revealed: MMR Research Scandal. † The Sunday Time s 22 February 2004. DeStefano, F. â€Å"Vaccines and Autism: Evidence Does Not Support a Causal Association. † Clinical Pharmacology & Therapeutics December 2007: 756-759. Dominus, Susan. â€Å"The Crash and Burn of an Autism Guru. † The New York Times 20 April 2011. Freeper, Berlin. â€Å"The Autism Vaccine Hoax. † The Wall Street Journal 8 January 2011. Mascarelli, Amanda. â€Å"Vaccine Opt-Outs Causing Breaks in ‘Herd Immunity'. † Los Angeles Times 5 August 2011. Sifferlin, Alexandria. â€Å"Measles: 2011 Was the Worst in the U. S. in 15 Years. † Time 19 April 2012.

The And Online Payday Loans - 1223 Words

Storefront and online payday loans decreased 23 percent in 2016, according to information released by the Center for Financial Services Innovation, also known as CFSI. Some of the decline is due to payday loan borrowers shifting to bad credit installment loans or other subprime credit products. However, the CFSI study also revealed some alarming statistics that indicate that financially underserved Americans are incurring substantial fees for products other than a payday loan or cash advance loan. What Is Behind the Drop in Payday Loans? The Consumer Financial Protection Bureau, an independent federal agency created in 2011 as a result of the financial crisis of 2008, has accused the payday loan industry of unfair or abusive practices almost since the day the agency opened its doors. In 2015, the CFPB announced that it would propose new regulations for short-term loans, including bad credit payday loans, auto title loans and certain personal installment loans. Many payday lenders began shifting their focus from payday loan products to installment loans. Installment loans have traditionally been more attractive to borrowers; with longer repayment terms and lower monthly payments, installment loans were a more budget-friendly option for many borrowers. By the time that the CFPB released its formal proposal in June 2016, many borrowers who would have chosen a payday loan in previous years found that they could now choose an installment loan. However, the shift toShow MoreRelatedLenders And Credit Loans Online Payday Loans1200 Words   |  5 Pagesoffer bad credit loans, including online payday loans, personal installment loans and auto title loans, have come under increasing attack in recent years. The Consumer Financial Protection Bureau, or CFPB, has been the most vocal critic of these lenders. The CFPB published its proposed regulations for short-term, small-dollar loans in June 2016. Included in the 1,341 pages of new rules and explanations is a section that deals specifically with lenders who offer online payday loans. Despite the pendingRead MoreOnline Payday Loan Is Not All Of Us Are Good With Money1077 Words   |  5 PagesCall Online Payday Loan Today. Online Payday Loan Not all of us are good with money when it comes to decisions and savings, and in most cases saving it means only to store your money in a bank account until you can spend it on a later date. There is a way for you to get your online payday loan. But why would you force yourself to wait for something you want when there is another way. Having an option for online payday loan means you will have more free time and spend it making better decisionsRead MorePayday Loans Online No Credit Check Instant Approval2417 Words   |  10 PagesPayday loans online no credit check instant approval may be an issue Description: Payday loan is the type of loan which is generally taken by the borrower at the time of emergency. Borrowers when require paying any kind of sudden bills or wants to repair their cars, they are currently in shortage of funds; they opt for these kinds of loan. Taking this kind of loan helps the borrower to get the amount instantly in their bank accounts. The overall procedure is done over the internet. Borrowers canRead MoreEssay On Pay Day Loans1040 Words   |  5 PagesGreat tips on how to get approved bad credit payday loans Bad credit payday loans have gained popularity over the years. Today, millions of Australians rely on these loans to settle their immediate financial challenges. 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The costs of these loans usuallyRead MorePay Day Loan Research Paper722 Words   |  3 PagesAny loan resulting in a release of cash during times of immediate financial crises would be termed as best payday loan. It is only after the purpose for which the loan was taken gets satisfied that we start thinking critically of the loan. It will be wrong to term this tendency as selfishness. Payday loans are actually made dearer by loan providers. Many borrowers actually decide to take loans at any terms stated by the lenders because of the urgency involved in the situation. Lenders will not missRead MoreQues tions On Real Payday Loans1644 Words   |  7 Pagesfind out genuine direct lenders of real payday loans? Description: real payday loans can be only available in case you make proper verification of the lender. There are few strategic methods that can help you to conduct this verification successfully and you can follow them. You might get confused with the term real payday loans but if you make a proper survey then you will find that there is no as such difference in between normal payday loans and these loans. In this case, you are highly recommendedRead MoreDealing With Emergency Payday Loans1279 Words   |  6 Pagesdeal efficiently with Emergency payday loans? Description: Emergency payday loans sound easy but in reality there are many hidden facts that will reveal the actual stand of these loans and you should get a fair knowledge about the same. Emergency payday loans can now resolve all your urgent needs and thus these loans have got a greater demand in the present age. These kinds of loans are not like any other loans but they are quite different. You can now have these loans in cash form so that your needs