Problems in calculating national income Essay Example | Topics and Well Written Essays - 500 words

Problems in calculating national income - Essay Example One of the most common problems that countries, especially developing countries face in this process is lack of expertise, as the methodology involves need highly professional experts, economics, and analysts that may complete the process in an accurate manner while eliminating as much human errors as they can (Bosch, pp. 11-14, 1992). However, a huge number of countries are experiencing shortage of such qualified individuals. Besides, lack of technical equipments is also significant issue exists in this methodology, as many countries do not have access to advanced technologies required for the calculation. Thirdly, determination of depreciation is a complicated step in the process that creates problems for economists. One of the basic reasons behind this is the characteristic of depreciation being estimation rather than an accurate deduction that results in inaccurate figures of the national incomes (Dombusch, pp. 23-25, 2005). In addition, experts (Jain, pp. 52-57, 2008) have identified another problem that relates to decisions regarding inclusion and exclusion of certain products and services. In specific, economists face confrontations while deciding to consider government spending on social welfare, development expenses, interests against debts, etc that often results in wrong calculation of the national income. Moreover, experts (Wall, pp. 39-42, 2008) have noticed that globalization has resulted in existence of huge number of foreign organizations working in a country, and economists face difficulties while determining whether to include income of such companies in their national income or not. However, the IMF has played a vital role in suggesting that economists should include income, as well as production activities in the owning country while ignoring the profits that should go in the national income of the parent country. Furthermore, studies (Jain, pp. 39-41, 2008) related to the calculation of national income have shown that

Leveraging IT and a Business Network by a Small Medical Practice Essay

Leveraging IT and a Business Network by a Small Medical Practice - Essay Example The case is about Eastern Cardiology Services (further - ESC), which has been founded by Dr. Jeff Curtin with the aim of providing high-quality medical services on the private grounds in the sphere of cardiology. His aim was to create a small enterprise, which will combine the service delivery with the use of advanced computer technologies. The key issues, existing in the company at the very beginning of its operation were the following: 1. The firm had to achieve high level of quality, through the understanding, that often the quality if information delivered to the patient could become a matter of his life-or-death. The issue in this relation was that the small firm like ESC could not afford implementation IT in combination with medical services through trial and effort, as it was usual for large companies. 2. The second issue was related with the fact that the newly opened enterprise had to prove the accuracy of the records given to the patients. As far as the information had to be easily retrievable the newly developed IT had to be connected with the medical equipment for medical investigation - this was a serious matter to resolve. Among the issues, which the enterprise had to face and resolve, were the issues related to the necessity of aligning corporate management with IT use. Thus, it is seen that the main issue, though described here through several separate key problems, are certainly connected with the necessity to implement IT technologies into all spheres of the ESC activity - both directly and indirectly connected with the medical service delivery. These issues are the result of understanding that for SME to survive in the area of medical service delivery, something new and unique should be invented, to distinguish them from the large medical establishments, which mainly display a kind of 'line production' service delivery. One more important issue here was making each consumer feel unique and exclusive, and receive the best service through the IT which the enterprise uses. 4. For the development of the IT necessary to be used in the enterprise, it was important to find the research opportunities, which would satisfy financial demands of stakeholders and result in general improvement of the ESC operation. 5. The management of the enterprise had also to understand that as soon as the IT system was developed, it would have to be constantly improved, as in the process of its implementation and operation new limitations were going to be displayed and thus eliminated. The problem there was that this process needed constant financing, which had also to be agreed with stakeholders. 6. Finally, it was of course necessary proving the benefits of IT implementation to the stakeholders. Thus, in identifying the key problems of the enterprise at that time, it is clearly seen, that the principal strategy developed by ESC was aimed at implementing IT, as the key to its success in delivering medical services. Though the enterprise understood the necessity for such actions, but many factors were simply forgotten