Organizational Changes within the National Health Service Essay Example for Free

Organizational Changes within the National Health Service Essay 1. Discuss and debate the organizational changes within the National Health Service and examine how these have influenced care delivery. At the start of the NHS, a mediation model of management subsisted where the role of the manager facilitated health care professionals to care for the patient. Medical staffs were extremely influential and controlling in determining the shape of the service, at the same time as managers were imprudent and focused on managing internal organizational issues (Harrison et al. 1992). After the 1979 general election, there was originally little change to the National Health Service (Klein 1983). Though, poor economic growth, together with growing public expenditure, slowly brought about changes. Influenced by the New Right ideologies, a more interventionist, practical, style of management in the health service emerged. This efficiently changed the role of managers from one of imprudent scapegoats for existing problems, to agents of the government (Flynn 1992). Managers became the means by which government control over NHS spending was increased (Harrison and Pollitt 1994). The impulsion for this change arose from the 1983 Griffiths report (NHS Executive 1983), an assessment by the government health advisor, Sir Roy Griffiths. Within this report, four specific problem areas were recognized: the limited management influence over the clinical professions; a managerial stress on reactivity to problems; the significance placed on managing the status quo; and a culture of producer, not consumer, orientation (Harrison et al. 1992). The power of the Griffiths Report (op. cit.) was to challenge and limit medicines sovereignty in the health service, and over health care resources. certainly, nurses were simply referred to twice throughout the document. Through its attention on organizational dynamics and not structure, the Griffiths Report proposed main change to the health service. General Managers were initiated at all levels of the NHS. In spite of Griffiths original intention that it was simply cultural adjustment that was required, there were instantaneous and considerable structural and organizational changes in the health service (Robinson et al. 1989). Post-Griffiths there were escalating demands for value for money in the health service (DoH 1989). Efforts to extend managerial control over professional autonomy and behavior so continued throughout this intense period of change, and terminated with the NHS and Community Care Act (DoH 1990). From the re-organizations that taken place during this period, the NHS was rationalized to conform more intimately to the model of free enterprise in the private sector. This reformation was shaped by the belief that greater competence could be stimulated through the formation of an internal and competitive market. The belief that the health service was a distinguishing organization was disputed. The principles of economic rationality linked with business organizations were applied extensive to the operation of health service. The services requisite were determined, negotiated, and agreed by purchasers and providers through a funding and constricting mechanism. In this, trust hospitals and Directly Managed Units supplied health care provision for District and General Practitioner fund holders. There has since been a further shift in the purchaser base from health authorities to local commissioning through primary care groups and, more lately, through the Shifting the Balance of Power: The Next Steps policy document (DoH 2001b), to Primary Care Trusts. Through such recognized relationships, purchasers have turn out to be commissioners of services and the idea of the internal market has become the managed market that recognizes the more long-term planning of services that is required. Rhetoric of organization and health improvement underpins service agreements now made. The NHS is not simply a technical institution for the delivery of care, but as well a political institution where the practice of health care and the roles of health care practitioners imitate the authority base within society. The hospital organizational structure is an influential determinant of social identity, and thus affects health care roles and responsibilities. Though, through the health care reforms the medical staff and, to a lesser degree the managers, appeared to be defense from the introduction of general management into the health service. This has resulted in health service delivery remaining stoutly located within a medical model, and medical domination unchallenged (Mechanic 1991). It is the less authoritative occupational groups, including nursing, that have felt the major impact of such reforms. The NHS organizational changes aimed to convey leadership, value for money, and professional responsibility to managers at all level of the health service. These alterations were intended to reverse the organizational inertia that was limiting growth and efficiency in the system. Though originally aiming a positive impact on the service, these radical ideologies led to tension at the manager-health care professional boundary (Owens and Glennerster 1990). The prologue of the internal market in the NHS meant to present a more neutral and competent way of allocating resources, through rationalization and depersonalization. The new era of managerially claimed to be a changing force opposing customary health professional power (Newman and Clarke 1994), and persuasive professionals to offer to organizational objectives (Macara 1996). The contradictory models of health care held by managers and health care workers improved ambiguity over areas of responsibility and decision making, somewhat than clarity as anticipated (Owens and Glennerster 1990). The contending ideologies and tribalism between the health care groups were more unequivocally revealed. The introduction of markets to health care exposed a dichotomy for health care professionals. Medical and nursing staffs were requisite to report to better managerial officials, yet reveal professional commitment to a collegial peer group. This was challenging, mainly for medical staff that understood medical influence and the independence of medical practice, but did not recognize managerial ability. In many of the commentaries addressing this, the majority pragmatic resolution to addressing this situation was to distinguish that professional independence exists but together with, and limited, by managerial and decision-making control. The Griffiths Report (NHS Management Executive 1983) considered the doctor as the natural manager and endeavored to engage medicine with the general management culture through the resource management inventiveness. This requisite medicine to clinch the managerial values of collaboration, team work and collective attainment through the configuration of clinical management teams: the clinical directorate. On the contrary such working attitudes were in direct contrast to medicines principles of maximizing rather than optimizing, and of autonomy not interdependence. It is fascinating that even in todays health care environment; there have been sustained observations that medical staffs do not supervise resources or clinical staff in an idealistic way. in spite of this, there has been little effort to undertake a methodical and broad review of the organization of medical work. This is in direct distinction to the experience of nurses, whose working practices and standards persist to be cr itiqued by all. Early on attempts made by managers to bound medical authority led to doctors adopting countervailing practices so as to remain independent and avoid organizational authority. Such practices, taken to keep their clinical independence, included unrestricted behaviors in admitting patients or deciding on explicit patient treatments (Harrison and Bruscini 1995). These behaviors rendered it hard for managers to intrude on medical practice, and therefore restricted the impact of the health care reforms. Immediately post-Griffiths there was some proof that introduction of general managers had, to a small extent, influenced medical practices. Green and Armstrong (1993) undertook a study on bed management in nine London hospitals. In this study, it was established how the work of managerial bed managers was capable to influence throughput of patients, admission and operating lists, thereby ultimately affecting the work of medicine. however, attempts made by managers to organize medicine were self-limiting. Health care managers were not a colossal, ideologically homogeneous group and lacked a strong consistent power base (Harrison and Pollitt 1994). Managers did not fulfill their remit of exigent the medical position in the health service and evade the responsibility for implementing repulsive and difficult decisions (Harrison and Pollitt op. cit.). The management capability of medicine persists to be challenged by government initiatives including the overture of clinical governance (DoH 1997). In this, the Chief Executives of trusts are held responsible for the quality of clinical care delivered by the whole workforce. An optimistic impact of this transform may be to provide opportunity for an incorporated organization with all team members, representing an interdependent admiration of health care (Marnoch and Ross 1998). on the other hand, it might be viewed as simply a structural change to increase the recognized ability of the Chief Executive over the traditional authority of medical staff: a further effort to make in-roads into the medical power base. Current years have demonstrated sustained commitment from the government towards modernizing health care (DoH 2000b). This has integrated challenging conventional working patterns and clinical roles across clinical specialties and disciplines. certainly medicine has received improved public and government scrutiny over current years. This has resulted in a shift of approach from within and outside the medical profession. The accomplishment of challenging the agenda for change in health care will be part-determined by medicines capability to further flex its own boundaries, and respond to the developing proficiency of others. 2. Identify and critically explore the changing role of the nurse, within the multi disciplinary team, examining legal, ethical and professional implications. The impact on nurses of the post-Griffiths health service configuration has not been so inconsequential. Empirical work has demonstrated that execution of the Griffiths recommendations led to the removal of the nursing management structure. This efficiently limited senior nurses to simply operational roles (Keen and Malby 1992). The implementation of the clinical directorate structure, with consultants having managerial accountability over nursing, further reduced nursings capability to effect change. Prior to 1984, budgetary control for nursing place with the profession. The 1984 reorganization distant nursing from nursings own control and placed it decisively under the new general managers (Robinson and Strong 1987, p. 5). As the notions of cost inhibition and erudite consumers were promoted, audit and accounting practices assumed a significant position in the health service. It was nurses who, encompassing a considerable percentage of the total workforce and linked staffing budget, found themselves targets for public and government analysis. Nursing maintained some strategic management functions within the new management structures, but these tasks were mostly limited to areas within the professional nursing domain. Nurses have been seen as pricey and potentially upsetting factors of production: channels through which costs can be lessened and administration functions can be absorbed (Ackroyd 1996). Caught in the crossfire of managerial changes that were originally targeted at medicine, nursing has been placed subordinate to management (Robinson and Strong 1987). In spite of debates on the impact of health care changes, there is consent on one issue. The structural and organizational changes in the NHS since 1991 have re-fashioned unit management teams and unit management responsibilities. This has resulted in the improved involvement of these teams in the stipulation of the service. It has required a diverse way of thinking about health care and new relationships between clinicians and managers to be developed (Owens and Glennerster 1990). The nineties are set to become a vital period in changing the ways in which health care is delivered, not just in terms of the potential re-demarcation of occupational boundaries between health care occupations, but as well in terms of the broader political, economic and organizational changes presently taking place in the NHS. It is asserted that traditional demarcations between doctors and nurses, seen as based on ever more unsustainable distinctions between cure and care, are becoming blurred and that the new nursing causes a threat to the supremacy of the medical profession within health care (Beardshaw and Robinson 1990). though, there is an element of wishful thinking about this and, indeed, Beardshaw and Robinson (1990) rage their optimism with an identification of the continued reality of medical dominance. They see the threat to medical supremacy as one of the most problematical aspects of the new nursing, largely as claims to a unique therapeutic role for nursing must essentially involve a reassessment of patient care relative to cure. In Beardshaw and Robinsons view, the degree to which doctors will be willing to exchange their conventional handmaidens for true clinical partners, or even substitutes, is one of the most significant questions posed by the new nursing. In the wake of the Cumberlege Report on Community Nursing (DHSS 1986) and World Health Organization directions concerning precautionary health care, there appeared the very real view of the substitution of nurses for doctors in definite clinical areas-particularly primary care in the community, through nurses creating a central role in health encouragement, screening, counseling and routine treatment work in some GP practices (Beardshaw and Robinson 1990). Though, a current evaluation of the impact of present reforms in the NHS on the role of the nurse in primary care is more distrustful concerning the future shape of the community nursing role. If the way to determine the extent of nurses challenge to medicine is in terms of the conflict it provokes, then there positively is proof of medical resistance to recent developments in nursing. Doctors reaction to the Cumberlege Report on neighborhood nursing (DHSS 1986), which suggested the appointment of nurse practitioners, revealed that there were doctors who strongly resisted the initiative of nurses acting autonomously (Delamothe 1988). On the other hand, the General Medical Services Committee and the Royal College of Nursing agreed that decisions concerning appropriate treatment are in practice not always made by the patients general practitioner and recognized that nurses working in the community are effectively prescribes of treatment (British Medical Journal 1988:226). Discussions relating to the proper arrangements desired to hold the prescription of drugs by nurses are taking place, on the grounds that nurse prescribing raises issues linking to the legal and professional status of both the nursing and the medical professions (British Medical Journal 1988:226). This suggests that renegotiations relating to the spheres of competence of doctors and nurses are on the agenda. None the less, the General Medical Council (1992) Guidelines remain indistinct on nurse prescribing and other forms of delegation of tasks under medical privilege to nurses, stating that it has no desire to hold back delegation, but warning that doctors must be satisfied concerning the competence of the person to whom they are delegated, and insisting that doctors should retain eventual responsibility for the patients, as improper delegation renders a doctor liable to disciplinary proceedings. Renegotiations around the division of responsibilities between doctors and nurses are taking place very carefully and to a large extent on a rather extemporized basis, given the volume of letters requesting advice and clarification received from GPs by the General Medical Council. The focus in much of the nursing literature seems to be on the challenge of the new nursing to the old nursing posed by nursing reform, somewhat than on the challenge to medicine. One doctor (Mitchell 1984) has complained in the pages of the British Medical Journal that doctors have not been told what the nursing process is about. Paradoxically, the nursing process is in fact derived from the work of an American doctor, Lawrence Weed, who pioneered the problem-oriented record for hospitals in 1969. This changed the way in which patient information was collected and stored by instituting one single record to which all health professionals given. Though the nursing process, which was part of this innovation, crossed the Atlantic to Britain, the problem-oriented record did not. Mitchell (1984) has argued that the medical profession must oppose the nursing process and give it a rough ride on the grounds that medical knowledge should precede nursing plans to remedy the deficiencies of living activities which are, he insists, consequential upon the cause and clinical course of disease. He also accuses nurses of enabling a pernicious dichotomy between cure and care, relegating the doctor to disease and inspiring the nurse to the holistic care of the individual, and suspects that the nursing process is less a system of rationalizing the delivery of care than a means of elevating nurses status and securing autonomy from medical supremacy.

Impact of Colonialism on Indigenous People

Impact of Colonialism on Indigenous People In 1492, Columbus sailed the ocean blue. Observed on the second Monday of October every year, the federally recognized holiday celebrates the achievements of the Italian explorer Christopher Columbus. But because his arrival brought murder and slavery to indigenous peoples in the Americas, activists have attempted to rename this holiday to Indigenous Peoples Day. Though Indigenous Peoples Day aims to reframe the heritage narrative in the United States, many indigenous people around the world are forgotten, including the people of Kiche in Guatemala who are on the verge of being pushed out of their homeland. With roots as far back as 2000 BC, the Kiche were among the few Maya groups who survived after the decline of the great Mayan Empire. After the conquest by the Spaniards and Kaqchikel neighbors, who allied almost immediately with the Spaniards, in 800 AD, the fortunes of the Kiche changed virtually overnight. Their lands were seized and they were relegated to the status of laborers for their new, colonial landowners. Little has changed since that time. In a country where, Mayan descents constitute roughly 51% of the national population, ethnic diversity makes Guatemala a nation of immense human richness having its own cultural identity. However, discrimination against indigenous population is undeniable in Guatemala. As of today, 10% of total land is in Indigenous hands, which is not surprising where 85% of the nations land is owned by less than 2% of the population. In response, the Guatemalan government did provide about 5.2 million acres of concession areas for indigenous communities like the Kiche to take care of. However, areas controlled by the government undergo the most deforestation. Nearly 40% of Guatemala is covered by forests, making illegal logging a widespread issue that threatens the livelihood of people who rely on forests for survival. Critics blame uneducated campesinos clearing land for agriculture as one of the prime culprits. Though this does represent a threat, there are bigger threats, including lumber companies, and organized crime. Nevertheless, the government does not seem to have the political will to eradicate the dilemma. Some Kiche members, living in the highland Ixil Maya municipality of Nebaj, are actively protesting logging companies exploiting lumber on private lands. While the Indigenous Authorities of Nebaj issued a statement asking the government to take action, they declined to act and simply issued a statement that they are planting new trees for every one that is cut down. Eliseo GÃ ¡lvez, the deputy executive secretary of the governments National Council of Protected Areas, testified that for years, judges and the forestry police, have failed to coordinate this complication. Or perhaps, this very reason could very well be that the Guatemalan Ministry of the Economy actively promotes the investment of companies interested in exploiting the countrys nearly 2 million acres of forests. Timber companies arent the only ones contributing to the deforestation efforts. Drug traffickers have cleared large swaths of forests to lay down clandestine airplane landing strips and roads to haul through drugs. Galvez added, Now it is even more complex because of the influence of illegal actors who are using the park to move migrants and drugs north. In some parts of Guatemala, the narco-led deforestation annual rate was reported to be about 10 percent. In response to the crackdown in Mexico, drug traffickers began moving south into Central America around 2007 to find new routes through remote areas to move their drugs from South America and get them to the United States, said Kendra McSweeney, an associate professor of geography at the Ohio State University. But while bribes keep government officials looking the other way when it comes to deforestation activities, local activists and indigenous people pay the consequence when they speak up. As one of the highest homicide rates in Central America, kidnappings and extortion are not uncommon to indigenous people who may not have the economic ability to pay up, leaving parents to instead pay human smugglers to get their children to the United States, away from the crime. That in part helps to explain why large numbers of unaccompanied children began arriving in the United States starting in late 2013.

Classification Essay - Types of Wood -- essays research papers

Wood types differ considerably in properties such as color, density, and hardness, making timber a resource that is valuable in a wide variety of contexts. Each of the samples of commonly used woods shown here has distinctive characteristics. Mahogany is a tropical tree prized for its heavy, strong, easily worked wood. Hickory is a tough, hard wood used for tool handles, furniture, and smoke wood for meat. Instrument makers favor the strong, richly colored wood of the cherry tree. Yew is strong, fine-grained wood used for cabinetmaking and archery bows. Like mahogany, the wood of the iroko is resistant to both rot and insects and bears the "interlocked" grain of many tropical trees. Oak is one of the world's most durable woods. It is used in barrel-making, veneers, and flooring....

Essay --

Madison Lamb Louise Pompa English 11A 06 February 2014 Marriage Equality â€Å"Life, Liberty, and the Pursuit of Happiness† is one thing that homosexuals are not permitted to chase. Marriage plays an important role in our society, and I personally don’t believe that people should be allowed to choose who other people are allowed to spend their life with. The right for homosexuals to marry has been a controversial topic since 1924. Denying homosexuals is a violation of our civil rights, and love should not be determined by your gender: love is love. Homosexuals only want one thing and that is a marriage licenses. They want to express their love for their partner, just like heterosexuals do. Heterosexuals have the right to be in love, why shouldn’t homosexuals? Why should homosexuals have to fight for their right to be in love, when heterosexuals can marry, and love anyone they want? Marriage is a beautiful experience where you get to express your love, and your commitment to that person. I believe that everyone should have the right to do so. Homosexuality is becoming an accepted lifestyle nowadays with most evidence strongly supporting marriage equality. According to NCSL, â€Å"as of January 2014, California, Connecticut, Delaware, Hawaii, Illinois, Iowa, Maine, Maryland, Massachusetts, Minnesota, New Hampshire, New Jersey, New Mexico, New York, Rhode Island, Vermont, and Washington, including the District of Columbia have all legalized same-sex marriage.† Did you know that there is a tremendous amount of 598,791 gay couples, and 71,165 gay marriages? 53% of Americans strongly believe that same sex marriage should be legalized, while on the opposing side, 41% believe same sex marriage shouldn’t be legalized. How can homosexuality a... ...hat everyone thinks is the â€Å"normal†. Understand that everyone is equal, and it should always stay that way. Homosexuality is becoming accepted more and more in America, and whether it’s legalized or not, homosexuals are still going to be with whom they want to be with. Denying homosexuals, or anyone for that matter, is a violation of the civil rights. Discrimination is what’s wrong with our world, and denying homosexuals could put an end to all discrimination. Legalizing homosexuality will make the world a more peaceful place, and will allow each other to see what’s really on the inside. The labeling and homosexual jokes will finally come to an end, and people can love one another without questioning if it’s okay. Everyone is on the journey to find love in the world, and some people find that in the same gender. Love is love, and that’s all it really comes down to.

Importance of Moral Science

In today’s rat race values are eroding fast. There is a total decadence in social and moral values. Children go to schools daily thinking how to scale heights they will reach. How rich education can make them. In today’s cut throat competition even the parents instruct their wards that they should top in the class. The parents want their money back for the investments in schools. The criteria for promotion in schools are marks in sciences and social sciences, but not moral science. But childhood is a very impressionable age.The mind is like soft wax, so whatever one is taught at a tender age it leaves a deep impression. Therefore Moral science must be made a compulsory in school curriculum. Isn’t it? It is also a science of human soul; it’s a mirror of one’s inward mind, one’s ethics. Moral science inculcates values in mankind and value education is very vital from childhood. Coming to Values It means estimating any person any object any anim al. How many of us do so? In affluent families if children lose their belongings like a small pencil box or a lunch box they are quickly replaced by their parents.The parents think their little darlings will feel inconvenient without those things. My advice to those parents are let your little feel uncomfortable without their lunch or pencil box , then only they will learn And I promise you, next time they would be careful not to misplace them or even prize them no matter what those cost. Moral science helps every child to learn values. If diamonds were found in plentiful like pebbles on sea shore would we have cared to pick them? School is our ALMA MATER, which means My Mother.Just as a mother instructs her toddlers hoe to value family, schools should preach the pupils HONESTI IS THE BEST POLICY, CHARITY BEGINS AT HOME. Through moral science classes, Children spend so much of their precious time in schools. So schools shoulder the responsibility of imparting moral values to them. T emptations lure us just like the FORBIDDEN FRUIT had seduced Adam. As a result Garden of Eden was confiscated from Adam by God. Our life is also a paradise on Earth.Moral science can channelize us through spiritual crisis â€Å" His goodness shall follow mw always to the end of my days† Moral science protects us from the corrosive influences, else every one of us would someday turn into Dr Faustus. To make the children self-reliant, confident and responsible citizens we have to give them value-based education, which only moral science can do. After all â€Å"Today’s child is tomorrow’s citizen†. Moral science is not a religion-based subject. Rather it eliminates fanaticism, superstition and violence. It preaches LOVE ALL SERVE ALL.This value is lacking in today’s generation. It helps a child to pay heed to his conscience. Not to be led away by worldly show. Theoretical knowledge is not enough. Teachers should make their life exemplary to their stud ents. The lives of great patriots or spiritual leaders must be brought to the forefront Only Moral science can stem the tide of rapid value erosion and motivate the students towards a healthier life. A child is then trained emotionally, mentally, and physically how to be a responsible citizen or a good son or a daughter.They can resist wrong peer pressure intolerance and through right conduct lead forward their nation Who knows among these pupils are tomorrow’s leaders or even a spiritual Guru. With the help of schools , the pressure on the parents is also reduced. Thus to all the schools of the modern days it’s my hearty advice that before preparing a new syllabus for the new term please make Moral science as part of the curriculum. Let the light of spirituality shine through the eyes of the little ones.

Daedalus and Icarus Essay

When you take everything into detail, you will notice that the artist, Anthony Van Dyck, painted Icarus (left) very pale. While Daedalus, Icarus’ father, was painted with a darker complexion.The background resembles the color gray, whereas in the story Daedalus and Icarus are surrounded by brick walls, with a lone window that will soon become their escape route. I took into account that Anthony Van Dyck dressed Daedalus in a toga, whereas Icarus is trying to cover himself with what seems to be a blanket that resembles the color of his father’s toga. The wings seem to be more life-like then described in the story. In the story it states that Daedalus made the wings from wax and feathers, and that is what led to the death of Icarus. To conclude, Anthony Van Kyck used pale colors that seem to bring to mind death. Analysis As I said before, Anthony van Dyck used pale colors to paint and this seems very smart because it seems that there is a hint of sadness. With Icarus’ coloring it seems as if he is already dead and the blanket is the burial shroud that the ancient Greeks were either buried in or burned in. Like I said before, the background is gray and unlike the story, it doesn’t show a brick wall with a lone window. This once more brings to mind that it is to foreshadow the tragic end of Icarus. Daedalus seems to have been painted with a darker complexion than his son Icarus which tells you that Daedalus will stay alive and well. If you take into account what the characters are doing in the painting you will notice that while Daedalus is trying to explain how to use the wings, Icarus is daydreaming about flying. This seems to be the reason for his later on demise. Sadly this paintings shows nothing of Icarus’ actual demise, but Anthony Van Dyck does a wonderful job of showing th e creation of the wings and the reason of Icarus’ downfall. Theme The morals of Daedalus and Icarus were listening to superiors, and fear in god(s). The reason for ,listening to superiors, being incorporated with the story is because if Icarus had listened to his father than he would have  never flown to his doom. This is shown in the painting where Daedalus seems to be explaining something to Icarus, but Icarus looks to the distance as if already imagining his upcoming flight. In the book Daedalus explains to Icarus that if he flies too low the ocean spray will cover his wings and make him too heavy to fly. If he flies to high then the sun’s heat will melt the wax and cause him to fall into the ocean, where the strong waves will drown him. Icarus, despite his father’s warning flies high believing he could go higher then the gods themselves and then plummets to his death because the sun’s heat melted the wax. The reason this has to do with fearing the gods is because since he believed he could achieve something that gods coul d angered them. In a way the gods did repay Icarus with misfortune, because Apollo is the sun god and it was his heat the melted the wax and sent Icarus to his watery grave.

International Bonds: Credit Ratings

Why do most International bonds have high Moody or Standard & Poor's credit ratings? Credit Rating Is a social Intermediary service to provide credit Information and reference for the community. Credit rating Is alma to show the size of a credit default risk the rating object, rating agencies focus on financial conditions and historical data to give the overall valuation of object. Currently, credit rating on the issue of international bonds is the popular investment risk valuation method in the international capital market.Specifically, this is assessed on debt servicing capacity of the issue bonds in a period, its fundamental purpose is to protect the interests of investors. At present, there are about 20 credit rating agencies on the issue of international bonds over the world, Moody, Standard & Poor's are the top 2 institution all over the world. Though they are private institution, but the rating scale and guidelines gradually become recognized as Internationally accepted sample s with considerable authority. Credit rating Is the traffic permit' for bond issuer to enter theInternational bond markets. International bonds with high credit rating mastered the global Information dominance and capital allocation rights. The rating will directly affect the level of costs and interest rates of oversea companies, it also can affect the strength of a business or even the survival and development of a country. Credit rating could provide objective and impartial credit information in order to strengthen management, avoid risks, optimize investment, boost sales and improve efficiency.High credit rating can increase the international business community awareness, improve competitiveness, to expand markets, increase sales and achieve rapid development of enterprises, expanding the scope of corporate finance at the same time, promoting financing success. High credit rating also can reduce financing costs in international enterprises. Companies with high credit ratings can get more credit policy In economic exchanges, easily to expand the scale of financing, therefore reduce financing costs.Q. What should a borrower consider before issuing dual-currency bonds? What should an investor consider before investing in dual-currency bonds? Dual-currency nod is a bond that is issued in a currency and pays coupons in the currency as well. At due date, the capital is paid in another currency. The coupon rates for dual- currency bonds are usually higher than other straight fixed-rate bonds. The amount of principal would set when the bond is issued based on currency appreciate.There are many motivations for Issuing the dual-currency bond, but the core reason is due to the long-term foreign currency offered by bank are rarely more than a decade, it must be used In order to avoid the foreign exchange risk. Exchange rate uncertainty would primarily considerate for both the borrower and Investor when dealing with dual-currency bonds. Currency fluctuation will Influe nce whether a borrower or issuer will gain or loss. As for the borrower, if the issued currency appreciates or principal, thus, the borrowers will benefit.However, if the issued and coupon currency depreciate or principal currency appreciates, the borrower will suffer a loss from exchange rates. As for the investor are opposite to borrower. If the principal currency appreciates or issued currency depreciates, the principal repayment they chive will be more valuable than the issued currency repayment, thus, the investors will benefit. On the contrary, they will suffer a loss from exchange rates. Normally, coupon rate dual-currency bond is higher than the single-currency bonds.On the publisher's point of view, the repayment in different currencies may get lower risk, therefore, the bond issuers were willing to pay a higher coupon rate in order to reduce exchange rate risk, and choose to pay the dual-currency bond. Q. Discuss the process of bringing a new international bonds issue to m arket. The main international bond issuance processes are as follows: (1) The issuer will contact an investment banker and ask it to serve as lead manager of an underwriting syndicate.