Nursing the Patient in Pain Essay Example | Topics and Well Written Essays - 1750 words

Nursing the Patient in Pain - Essay Example Searches will be made based upon these 5 aspects of epidural anaesthesia, using as a beginning the references supplied by Chumbley and Thomas. Epidural analgesia is now a commonly used technique used to manage the acute pain which comes after surgery, usually being a planned procedure, the best time to consider postoperative pain relief actually being before surgery begins. The method first became available in the 1960s ( Klein, 2011) and has increased in use especially since the1980s (Wheatley et al, 2001). Usually it is given for from 2 to 5 days postoperatively , this depending upon the surgery type undergone. After this period the patient should have recovered enough to cope with oral medication for their pain relief. ( Chumbley and Thomas, 2010, page 40). ... ffectively, according to evidence based practice, this method reduces any risk of major adverse outcomes according to Chumbley and Thomas ( 2010, page 35). Both opioids and local anaesthetics can be used . These medications can however themselves produce serious, possibly fatal, side effects. Usually the epidural cannula will be put in place while the patient is still in the operating theatre. The role of the attending nurse is to monitor and assess patients receiving epidural anaesthetics, and to work with the evidence obtained , reporting any possible causes for concern, and so work towards preventing the development of these adverse effects. The College of Anaesthetists ( 2004 , 4.1) describe how it is the responsibility of the department of anaesthetics to ensure that properly qualified staff and appropriate protocols are in place in order that epidural analgesia can be undertaken safely and effectively with the anaesthetist, pharmacy and nursing staff working together. The epidu ral space into which the medication is inserted by a doctor is the potential space between the outer membrane, the dura mater, surrounding the spine and the bony vertebrae. This space contains blood vessels, nerves, connective tissues and fat. The nerves which are present work in various ways, such as passing on messages regarding movement. They also relay messages via the sympathetic nervous system to the brain about pain, touch, and temperature. This potential epidural space is present from the base of the skull down as far as the sacrum, but the spinal cord itself only extends as far as the second lumber vertebrae ( Macintyre and Schug, 2007). The patient is usually placed with their spine curved as this makes insertion somewhat easier. The needle is pushed in until it reaches the hard

Sample case studies Essay Example for Free

Sample case studies Essay Ans: The given case consists of the product named Burnol which was owned by Boots pure drug co. private limited. The case deals with the failure of the brand in the market. Previously in the 1940’s the sales of the product were huge and at its peak but slowly and steadily as time passed by and the world came up with new technologies the sales of the product started diminishing. Earlier in kitchen housewives used charcoal ovens to cook and often used to have burns while cooking and thus since the color of the cream was yellow similar to turmeric paste the sales of the product was huge and the product was extremely reliable. The first advertisement was also an eye catching one. But from the 60’s new technologies started coming and people started using gas and the rate of accidents and burns fell down. People still now remember the brand Burnol which is used in burns but do not use it. The main issue is that the marketers tried to reposition the brand like an antiseptic or first aid product but failed miserably. It stood nowhere when compared to dettol and other strong products. Finally now the brand is owned by Morepen and is on the way of its success. Q2: What is the consumers involvement in such a product strategy? Ans: The consumers play a very important role in every product strategy because end of the day it’s the consumers who are using the product and the company is making profit. In case of Burnol the repositioning of the brand failed miserably. One reason being that the brand image of the product. The brand had high value in the mind of the consumer but as a burn cream and not some other antiseptic cream. E.g.: Can we ever think of a product like HARPIC MOUTHWASH? Never†¦Ã¢â‚¬ ¦. Similar products in the markets failed like Lux Shampoo, Clinic Plus hair oil, etc. All this is due to the mind set of the consumers towards a particular product. We cannot think of a brand except for some particular products. Q3: What strategies would you recommend to change consumers attitude towards the brand? Ans: A brand like Burnol whose brand image is very strong in the mind of the consumers the marketers should come up with new ideas of developing the brand in its same criteria rather than reposition it. Advertisements can be made but not showing a housewife but a teenager getting burnt while working in the chemistry lab or small kids burning themselves while burning crackers during the Diwali festival. People cannot imagine the brand to be something else besides a burn cream and trying to do so will result in only failure. Q4: Why have attempts to reposition the brand failed? Has it anything to do with the consumer’s attitudes or appropriateness of communication messages? Ans: As mentioned earlier the brand image plays a very important role in creating a position or perception in the minds of the consumer. Consumers have different kinds of perceptions in their minds regarding certain products. E.g. A person driving a Mercedes Benz drives it not merely because he has the need of a 4 wheeler but to actually show off his or her status. Therefore if Mercedes ever comes up with a small size car the brand might succeed but. Therefore if Mercedes ever comes up with a small size car the brand might succeed but model Mercedes Benz will terribly fail because that image of having a status able car will no longer will be there. Similarly no one will ever imagine Nike coming up with a Cosmetic product, if so then will miserably fail. These are the various kinds of perceptions people have which are basically known as brand personalities. Similarly in the case of Burnol the attempts made of repositioning the brand failed not because of miscommunication of messages but because of the position the brand had in the minds of the consumer. Case 2: Q1: What significant culture/ sub-culture factors have led to the introduction and sales of the new Colas? Ans: The introduction of the new cola i.e. the Mecca-cola has evolved due to the Islamic culture and their protest against US foreign policy. As we all are aware of the wars between Iraq and US the amount of innocent people dying in the wars. Thus this new cola is introduced to fight against the US. The name Mecca clearly signifies the holy shrine of Muslim religion by their founder Mohammed Hazrat. Coca cola being an American product was not liked by the people since it went against their feelings since the profit from it went entirely to the Americans. But this drink gave the people a feeling that they are not consuming an US product and thus the product was a great success especially in the African and middle east countries. Q2: In your view what significance this development may serve as a pointer for many consumer products? Ans: The main significance the product serves for the consumers is the level of satisfaction since it’s not a US product and secondly the name of the product is related to their religion. People especially who are orthodox are very particular and would not go even an inch against their religion and consuming a product of a country who is killing their own people would be of great offence for them on their part. Thus this development would lead to turning point for many products who would in the future time may come up with more number of products who are religiously related especially in a country like India where people of various races inhabit. Q3: Discuss the impact of cultural factors that may strongly influence product choice. Would they be equally true for high-involvement products as well? Ans: Yes, the impact of culture has always been of great influence on product choice. E.g. their was a baby food product which was of immense success in the United states of America. The company started marketing the product in various other countries but was seen to miserably fail in many parts of Africa. The reason behind the failure was not known. After conducting large number of surveys a point was discovered that generally in Africa the packaging of products especially food products was done in such a way that the ingredients of the products being used are shown in the outside cover. The baby food product by US showed a picture of a baby on their packet and therefore the sales when immensely down not because that the people dint know that there was practically no baby used inside the food their mentality and psychology has become like that which stopped them from buying the product as soon as they saw the baby on the cover. Thus there is a great impact of culture, religion, way of living and many such factors which affects the buying behavior of the consumers. Case 3: Q1: Would marketing in foreign countries require study of a popular country’s culture aspects and buyer behavior before marketing Khadi there? What aspects would need to be studied? Ans: Marketing khadi in foreign countries will undoubtedly require their culture but not to that extent as it would have been needed in India. Mainly because khadi is a word that is related to our nation’s father mahatma Gandhi and emotionally touched with us. The emotional touch is not so much linked with the people outside India. May be the culture aspect would be required for the Indians living abroad but other than that the aspect that needs to be concerned about would be quality, tactics of proper marketing and to make people aware of the value khadi has ands how effective it would be for their used. Q2: Suggest an approach to make Khadi garments popular among Indian youth. Ans: The Indian youth is unaware of the sacrifices our freedom fighters and people like Mahatma Gandhi have done for our freedom, the tortures the British people have made on us. The best way to make the youth aware of Khadi garments would be to make them aware of the sacrifices and the amount of hard days Indians have faced. The way our own gandhiji came up with the concept of khadi so that we don’t use the materials provided by the british. End of the day we are Indians and hence after being aware of all these facts and after realizing the fact that this free life we are living today is all because of such great people the youth will certainly move towards khadi garments. View as multi-pages

Ethical Implications Of Image Manipulation

Ethical Implications Of Image Manipulation There are many arguments both for and against image manipulation in the media by the public. Groups argue that image manipulation contributes to eating disorders in both women and men and a general decline in self-worth. But opposing views suggest that image manipulation is a necessity for the upkeep of our idyllic view of celebrity culture, or is a form of art. Through my research, I will look at literature that may suggest that the use of image manipulation is negatively affecting our views of society and, in turn, what positive effects it is having too. When speaking about image manipulation, we need to think of the ethics involved. In a post about the ethics of image manipulation, Lodriguss says; When we correct, manipulate and enhance images in Photoshop, we must deal with questions of both ethics and aesthetics. (Lodriguss, 2006) What is ethical and what is not in terms of image manipulation? In what way are we manipulating the images, and is this for good or bad? There are a whole host of questions that can be asked, but we must focus our attention on whom the editing is affecting. When an image is edited, we are looking at two possible audiences who could be affected by the image; the subject and the people viewing the image. These two parties will each have different views about the editing that means the moral implications become entwined. When a reader picks up a magazine, looks at a billboard advertisement of a celebritys latest perfume release, or a fashion shoot, their view of the subject is most likely skewed. The editors of these publications often embrace imaging software and its editing features to better engage their target audience, and also to assist celebrities in keeping up their perfect image. Lucy Danziger, editor-in-chief of Self Magazine, has been quoted saying Yes, of course we do post-production corrections on our images. Photoshopping is an industry standard. (The Daily Mail, 2012) This was said about an image of Kelly Clarkson that was heavily altered. It may be seen by some that the editing of the image is ethically correct as it is maintaining a positive image of the artist. We have to remember that looks sell and in the dog eat dog world that is celebrity culture, does the digital world offer a safe haven for those who may need those few extra pounds shaved off? We have seen a strong example of how digital manipulation can help those that are being edited, but what about the audience that view and interpret the images? It is quite apparent that the editors of the media publications have an agenda when it comes to image manipulation. Maximising profit. A general understanding is that the public want to see the glam and glitz that comes with the size zero celeb. Its a form of escapism in the sense that the decoders may look at a magazine front cover and get lost in its world of designer gear and pocket sized pooches. But that escape from reality is short-lived, and the effects of over exposure from these edited images can be devastating. Young girls are exposed to between 400 and 600 media images per day. (Hawkins, 2012) With such a high figure, is it any wonder that there has been an outcry from charities, that support those affected by eating disorders, to ban excessive photo manipulation? The BBC say that the media is a powerful influence and we know how vulnerable some people at risk of eating disorders can be to its visual images in particular in a quote from Susan Ringwood of B-Eat. (British Broadcasting Corporation, 2010) Charities are getting angry that the media is allowed to digitally diet celebrities with no form of ethical guidelines that they must adhere to. However change may be on the horizon. The government are currently looking at reducing the amount of editing that institutions are allowed to put out into the mainstream public. They [à ¢Ã¢â€š ¬Ã‚ ¦] want to keep computer enhancement and digital manipulation to an absolute minimum (eg red eye reduction, background lightening). (Herrin, 2011) The gov ernment have seen that the stream of unrealistic photos that plague the media is affecting the way some people view themselves, which is therefore having an effect on their own wellbeing. By creating an ethical code that institutions have to follow, they will be taking one step to safeguarding those at risk of influence. Early this year, a young 14-year-old girl named Julia Bluhm from Maine, USA, started a petition on the Internet to try and get teenage magazine Seventeen to print unedited photos of women once a month. Julia didnt think that she would get nearly the amount of signatures that she did, totalling up a staggering 84,000. This figure effectively illustrates how many young females believe that image manipulation has a negative influence on the youth of today. The magazine promises not to doctor girls body shapes or face shapes (Dieken, 2012) which means that it wont be reducing the waist size or the complexion of the young girls. Girls will now be able to read a magazine with accurate representations of their peers, even if it is only once a month. This was seen as a massive breakthrough in the media industry, with her crusade [leading] to a magazines commitment to change. (The Daily Mail, 2012) I believe that both the encoder and the decoder of media texts have valid arguments when it comes to the ethics of image manipulation. I think that the celebrity culture demands that those in the spotlight look their very best at all possible times, and the media make a positive contribution to that image remaining so. I do however believe that the repercussions of this editing take an over arching negative effect on those who view them. Young women should not have to be subjected to a bombardment of ultra skinny, perfect representations of women. If those images were mediated by the institutions to a set code of ethics, I believe that the representations of women and the ramifications would be much less negative and tarnished.

Analysis of Virtual Reality Essay -- Virtual Reality Technology Comput

Analysis of Virtual Reality The term Virtual Reality (VR) is used by many different people with many meanings. There are some people to whom VR is a specific collection of technologies, that is a Head Mounted Display, Glove Input Device and Audio. Some other people stretch the term to include conventional books, movies or pure fantasy and imagination. However, for purposes of this research, we restrict VR to computer mediated systems. We would define Virtual Reality as a way for humans to visualize, manipulate and interact with computers and extremely complex data. The visualization part refers to the computer generating visual, auditory or other sensual outputs to the user of a world within the computer. This world may be a CAD model, a scientific simulation, or a view into a database. The user can interact with the world and directly manipulate objects within the world. Some worlds are animated by other processes, perhaps physical simulations, or simple animation scripts. Interaction with the virtual world, at least with near real time control of the viewpoint, is a critical test for a 'virtual reality'. Some people object to the term "Virtual Reality", saying it is an oxymoron. Other terms that have been used are Synthetic Environments, Cyberspace, Artificial Reality, Simulator Technology, etc. VR is the most common and sexiest. It has caught the attention of the media. Types of VR Systems A major distinction of VR systems is the mode with which they interface to the user. We would describe some of the common modes used in VR systems. Window on World Systems (WoW) Some systems use a conventional computer monitor to display the visual world. This sometimes called Desktop VR or a Window on a World (WoW). This concept traces its lineage back through the entire history of computer graphics. In 1965, Ivan Sutherland laid out a research program for computer graphics in a paper called "The Ultimate Display" that has driven the field for the past nearly thirty years. "One must look at a display screen," he said, "as a window through which one beholds a virtual world. The challenge to computer graphics is to make the picture in the window look real, sound real and the objects act real." Video Mapping A variation of the WoW approach merges a video input of the user's silhouette with a 2D-computer graphic. The user watches a monitor that... ...irplane that the inspector can navigate through via voice commands to mark a region of the airplane that is in need of service. Once identified, the application tags the area for transmission to the maintenance database and initiates the proper form for the inspector to fill out. The form is completed and then transmitted to the same maintenance database. When the inspector has identified all of the problems with a particular region, voice navigation is used to continue to other areas of the aircraft. The inspector is not required to take any information about the aircraft, previous defect records, clipboards, paper, etc. with them, everything required to perform the inspection is on-line and displayed in a manageable fashion in real time during the inspection. When the inspector completes the inspection, no further input is required. The inspector is not required to take notes and then pass them off to someone else to decipher and input to the system. The information is already in the maintenance database and ready for verification, planning, and scheduling. The timesaving realized from start to finish of that inspection is 30-50% depending on the inspector and the aircraft. Analysis of Virtual Reality Essay -- Virtual Reality Technology Comput Analysis of Virtual Reality The term Virtual Reality (VR) is used by many different people with many meanings. There are some people to whom VR is a specific collection of technologies, that is a Head Mounted Display, Glove Input Device and Audio. Some other people stretch the term to include conventional books, movies or pure fantasy and imagination. However, for purposes of this research, we restrict VR to computer mediated systems. We would define Virtual Reality as a way for humans to visualize, manipulate and interact with computers and extremely complex data. The visualization part refers to the computer generating visual, auditory or other sensual outputs to the user of a world within the computer. This world may be a CAD model, a scientific simulation, or a view into a database. The user can interact with the world and directly manipulate objects within the world. Some worlds are animated by other processes, perhaps physical simulations, or simple animation scripts. Interaction with the virtual world, at least with near real time control of the viewpoint, is a critical test for a 'virtual reality'. Some people object to the term "Virtual Reality", saying it is an oxymoron. Other terms that have been used are Synthetic Environments, Cyberspace, Artificial Reality, Simulator Technology, etc. VR is the most common and sexiest. It has caught the attention of the media. Types of VR Systems A major distinction of VR systems is the mode with which they interface to the user. We would describe some of the common modes used in VR systems. Window on World Systems (WoW) Some systems use a conventional computer monitor to display the visual world. This sometimes called Desktop VR or a Window on a World (WoW). This concept traces its lineage back through the entire history of computer graphics. In 1965, Ivan Sutherland laid out a research program for computer graphics in a paper called "The Ultimate Display" that has driven the field for the past nearly thirty years. "One must look at a display screen," he said, "as a window through which one beholds a virtual world. The challenge to computer graphics is to make the picture in the window look real, sound real and the objects act real." Video Mapping A variation of the WoW approach merges a video input of the user's silhouette with a 2D-computer graphic. The user watches a monitor that... ...irplane that the inspector can navigate through via voice commands to mark a region of the airplane that is in need of service. Once identified, the application tags the area for transmission to the maintenance database and initiates the proper form for the inspector to fill out. The form is completed and then transmitted to the same maintenance database. When the inspector has identified all of the problems with a particular region, voice navigation is used to continue to other areas of the aircraft. The inspector is not required to take any information about the aircraft, previous defect records, clipboards, paper, etc. with them, everything required to perform the inspection is on-line and displayed in a manageable fashion in real time during the inspection. When the inspector completes the inspection, no further input is required. The inspector is not required to take notes and then pass them off to someone else to decipher and input to the system. The information is already in the maintenance database and ready for verification, planning, and scheduling. The timesaving realized from start to finish of that inspection is 30-50% depending on the inspector and the aircraft.

Human Resource – Escape to the Wild

FINDINGS 1. 4 HR Activities Employee Relations When good employee relations are in place they can help to maintain a happy and motivated workforce. This function will be responsible for putting company policies and procedures in place regarding grievance/discipline, recruitment and selection, employee welfare, training and development, absence management/reporting and negotiating terms and conditions. Doing this will minimise conflict, ensure staff are treated fairly and creates rules that everyone is aware of. At Escape to the Wild there are no policies and procedures in place, there are inconsistencies in terms and conditions, inconsistencies in matters relating to recruitment and selection practises and staff are also overworked. Putting good employee relations in place will minimise/avoid all of these problems within the company. Recruitment and Selection Having a proficient recruitment and selection function within a company can help to select the right people for the job. To implement this the company should look to analyse what jobs need to be filled, what the job description should be, what qualifications the candidates should posses and an idea of the characteristics of the individual. Once this has been decided then the search for staff can begin, this can be done by looking to fill the position internally, use a recruitment agency or by advertising the position. Once all successful applicants have been chosen then appointments should be scheduled for interview and possible aptitude testing. A candidate will then be selected and any references or qualifications should be checked. Letters should be sent out to unsuccessful candidates an offer of employment letter to the successful candidate. Any qualifications and references should also be checked. At Escape to the Wild there are no recruitment and selection processes in place and this has caused problems as there is not enough staff, managers are currently responsible for recruitment so taking up time that could be spent on doing their job and by putting a proper recruitment and selection function in place it will alleviate this problem. Training and Development By making sure employees are properly trained and developed means a company will continue to thrive and make profits. Properly trained staff will improve their attitude and knowledge and help staff meet and perform given tasks properly, by doing this it will help motivate them to undertake higher-grade tasks. When putting this into place the company should be looking at what skills an employee already has, what skills they will require in the future and how to implement the training i. e. if it can be carried out by someone already proficient in the task within the company or if the training will have to be outsourced. An evaluation of the training will have to be done to see if it has been cost effective and whether the training possibly needs modifying. At Escape to the Wild they are having problems with the training being mostly ad hoc which means staff are leaving the company. If a proper training and development system was in place then this would minimise this. Pay and Reward To help motivate and retain good staff an appropriate pay and reward structure should be in place. Rewards should be meaningful and vary with the performance. To implement this a pay structure should be set up against job roles, administration of salaries be done, employee benefits should be implemented i. e. company canteen, creche facilities, free health care. Short-term and long-term incentives should be in place i. e. performance related pay rises each year, extra holidays after so many years service, option to join company pension scheme after so many years. At Escape to the Wild salary administration is outsourced, the Finance Director is having to deal with implementing salary increases. Implementing this function will stop these problems. 2. Diagram of recommended HR Department . Roles of HR Department HR Director The role of the Human Resource Director guides and manages the overall provision of HR services. The HR department and staff members are advocates for both the company and the people who work in the company and the HR Director will make sure this is being achieved. They will implement policies and programs for the whole c ompany, be responsible for performance management and improvement systems, organisational planning and development, policy development and documentation, employee relations, compensation and benefits administration, employee safety, welfare and health. The HR Director will report to the Board of Directors. Recruitment & Selection Officer The Recruitment and Selection Officer is responsible for delivering all operations of recruiting throughout the company. The need to keep up-to-date with recruitment practises and are responsible for making sure the company employ the best possible candidates. Their objectives should be to develop and execute recruitment plans, implement new recruiting ideas, create job descriptions, construct and implement good recruiting and interviewing techniques, fill positions efficiently, keep up-to-date with managers regarding recruitment effectiveness. They will also look to make sure proper induction procedures are in place for when new recruits join the company. They will report to the HR Director. Administrator to the Recruitment & Selection Officer They will maintain records of all applicant and interviewing information. Will assist in reference checking, writing letters of rejection, prepare and send offers of employment, deal with enquiries, keep up-to-date with media advertising costs and perform other duties as required. They will report to the Recruitment & Selection Officer. Training & Development Officer The Training & Development Officer will be responsible for conducting and supervising training and development programs for employees. They will look to seek measures in which to improve employee skills and look to prepare them for jobs within the company requiring greater skill, possibly for people that may be retiring. They will liaise with Line Managers to see what levels of skills employees already have and agree what they are looking to achieve from them. If technological changes are taking place then they will need to make sure employees get the proper training for any new programs/systems. They will need to evaluate training effectiveness and implement any changes if the outcome has not been affective. They are reportable to the HR Director Generalist Officer The Human Resource Generalist Officer manages the day-to-day operations of the HR Team. They will deal with the administration of policies, procedures and programs. They assist in advising managers about any Human Resource issues. They will be concerned with the Health & Safety of the workforce and the development of the workforce. This role will be responsible for staff records and any discipline and grievance issues. They will prepare and analyse reports that are necessary to carry out the functions of the department and company, prepare reports for management and they will assist in the implementation of the performance management system (PDP’s). They will report to the HR Director. Administrator for Generalist Officer and Training & Development Officer They will assist the Generalist Officer in all administration duties involved in their position. If any policies require changing, then once implemented they will have new documents printed for distribution. Keeping up-to-date administration of employee records will be essential. They will report to the Generalist Officer. The Administrator will be responsible for organisation of training, contacting outsourced companies for times, dates, costing information and then book as required. They will need to inform employees of any training taking place and deal with follow-up paperwork getting employees to evaluate what they learnt from the course to give to the Training & Development Officer. If internal training is being carried out then they will look to find out availability of space where training can be carried out and again book relevant dates, times. They will be responsible for making sure paperwork for any employee training is kept up-to-date in employee files. They are reportable to the Training & Development Officer. 4. Line Managers responsibilities The Human Resource responsibilities that will be carried out by the Line Managers will be to conduct Performance Development Plan/Appraisal interviews with the staff in their team. The managers have direct contact with their team so will know them better and it also lets the employee feel more at ease. They will evaluate the team in terms of what training needs they require and discuss with the Training & Development Officer, again as they work with their team on a day-to-day basis they have a better knowledge of what their team requires. They will approve holidays and submit paperwork to the Generalist Administrator to keep staff records up-to-date, along with any absenteeism, this means they can control when staff will be off so that there is no loss of productivity due to too many people being off at the same time. They will hold regular meetings with their team regarding any issues/concerns they may have and have regular meetings with all HR Advisors to report any issues/concerns. This helps to maintain good communication between employees and the company. 5. The Psychological Contract In any company there is a Psychological Contract, this is the mutual beliefs, perceptions and informal obligations between the employer and the employee. It is different from the formal written contract which only identifies mutual duties and responsibilities in a generalized form. Implementing a good psychological contract by introducing a HR Team within Escape to the Wild will be of benefit to the employees as at the moment there is lack of trust within the company as jobs like training and development are not being carried out correctly, there is not enough staff so employees are overworked and not being appropriately compensated. There are no clear policies and procedures so staff don’t know what they are supposed to be doing and are feeling let down. Implementing good practises and communication will help motivate them.

Greed, Need and Money, Walter Williams Essay

In the article entitled, Greed, Need and Money, Walter Williams presents his take on the economics and logic of keeping CEOs highly paid. He essentially argues that these huge â€Å"golden parachutes† and corporate salaries are justified by return that these companies get in return. Just because a CEO gets a high salary does not mean that he does not deserve it or do anything to help the company recover that value. By comparing this to a simple supply and demand model, Walter Williams is able to show that the reason the salaries are so high is because the demand is high as well and supply is pretty scarce. One manner by which the mention of the word greed can be applied to the economic lessons that have been discussed is to juxtapose this to the application of greed as an economic theory. Greed can be said to be the primal instinct for self-preservation of people. In an attempt to protect one’s self, man seeks only to pursue his individual interests without care for the well-being of others. In relation to economics, this pursuit of individual interests is greed or the pursuit of economic self-interests, otherwise known as individual wealth accumulation. Greed as a driving force is not an entirely new concept as it was originally part of the Invisible Hand theory introduced by Adam Smith. The basic precept of the invisible hand is that in a free market a person who chooses to be greedy and pursue his own interests in invariably also furthering the good of the entire community. A perfect example is in a situation where a person seeks to maximize his personal profits in total disregard of other factors. By applying the Invisible Hand theory of Adam Smith, it can be shown that when the total revenue of society is calculated this becomes identical to the summation of the individual revenues of every member of that society. In order to arrive at a better understanding of how greed, which is a key concept under the Invisible Hand Theory, both drives and regulates capitalist markets, it is essential to have a brief discussion of the basic supply and demand model. This is because production is driven by the willingness of the seller to supply and the basic goal of every seller is to increase profits (greed). This can be understood from two approaches, however, the first being profit maximization through an increase in the volume of units sold (assuming ceteris paribus) and the second being profit maximization through a decrease in the cost of the factors of production which in turn increases the profit margins per unit sold. The basic supply-demand model becomes critical in this understanding because under the market model sales will only willingly occur at the equilibrium point. The price level of a good essentially is determined by the point at which quantity supplied equals quantity demanded. The law of supply and demand predicts that the price level will move toward the point that equalizes quantities supplied and demanded. Greed is crucial in this sense because it is the basic assumption or behavior under this model. Without greed, there would be no drive for the individuals in society to pursue their own self-interests. The absence of this driving mechanism would mean that there will be no individual revenues and thus leading to the failure of the community revenue to equalize with its summation. This basically means that society’s scarce resources become more efficiently allocated through the regulatory nature of greed in capitalist markets. While the Invisible Hand theory has already been rejected as an acceptable economic model by the works of John Maynard Keynes and Milton Friedman, the more complex markets of today have shown that the pursuit of self-interests, while natural of human behavior, must be regulated by external systems in order to ensure a more equitable and efficient allocation of resources. This means that greed is not necessarily good in today’s current economic situation. As used in this discussion and in the article, this greed may not only be the effect of supply and demand but the pursuits of an individual’s self-interests for the improvement of the economic system.