Oil Price Expectation and Volatility †Free Samples to Students

Question: Discuss about the Oil Price Expectation and Volatility. Answer: Introduction The Organization of Petroleum Exporting Countries (OPEC) is one of the biggest oil exporting nations. In September 1960, OPEC was created in Baghdad by its founding members: Iran, Iraq, Kuwait, Saudi Arabia and Venezuela. Currently, OPEC Membership group consist a total of 14 Member Countries: Algeria, Ecuador, Equatorial Guinea, Gabon, Iran, Iraq, Kuwait, Libya, Nigeria, Qatar, Saudi Arabia, United Arab Emirates and Venezuela. Main objectives of OPEC is to coordinate the petroleum policies of its members, and to provide member states with technical and economic aid. OPEC aims to manage the supply of oil in an effort to set the price of oil on the world market, in order to avoid fluctuations that might affect the economies of both producing and purchasing countries. The oil market sentiment and prices can be strongly affected by all the decisions made by OPEC and how they implement its deal and agreement with other members. OPEC agreement usually consist setting up different level of ceiling for individual members total production and distributed through a quota system. Production ceiling is being adjust and change from time to time based on the latest assessment of world oil market fundamental. However, all members are expected to comply and abide with the agreement once the ceiling is set. It is important for all members to comply with the agreement as the level of compliance can strongly influence the price of crude oil. Hypothetically, the higher level of compliance often resulted in higher crude oil price whereas lower level of compliance usually decrease crude oil price and leads to more volatility. This paper will be divided into four parts: Part One. of the paper will outline the hypothesis at the back of this research analysis. Definition of compliance and formula in how to calculate the rate of compliance will be discussed in Part Two. Part Three. will testify the assumption behind the analysis by analyse compliance level during OPECs production cut. Part Three. is outline possible alternative cause and disprove the cause. Lastly, the result will be given in Part Four. OPEC productions cut drive crude oil price. The compliance rate from all OPEC members and crude oil price have a correlation. The decision of compliance level from all OPEC members have an effect on crude oil price. While compliance level are high, crude oil price are going upward whereas while compliance level are low, crude oil price are facing downward. In order to testify the hypothesis and address the key question How much control does OPEC have over the crude oil price?, we will examine on OPECs members actual production level; production ceiling and compliance rate. Since 1980 until now, OPECs has made a decision on production cut in 2016, 2008, 2001, 1998, and 1970s) (Wurzel, Willard and Ollivaud 2009). However, different time period will have different level of compliance. Figure 1. shown a graph of OPECs total actual production and total production ceiling during the year of 1980 to 2016. According to the graph, we can see the total actual production level is showing a strong upward trend. On the other hand, the total production ceiling is showing a downward trend. As is evident from the above figure, which plots the changes in the nominal price levels of oil and the compliance rate of the countries simultaneously, there is roughly a positive relation between these two variables. The overall nominal price levels of oil is seen to be remaining more or less constant with very moderate fluctuations between 1983 to 1999. The prices however fell a little in the year 2001, with the level consistently rising after that, the levels reaching a striking high in the year 2008 (Colgan 2014). The price however fell drastically in 2009 before rising again from the next period. The rise in nominal price of oil is seen to be consistent till 2013and the price fell moderately in 2014. However, there was a huge shock in the price levels as the price drastically fell in the year 2015 and till the recent times the nominal price level of oil is keeping near this relatively lower level (Key and Villarroel). However, unlike that of the nominal price of oil, which shows substantial fluctuations over time, attributed to different factors playing in the global oil market scenario, including both the OPEC and the Non-OPEC players, the compliance rate, as shown in the above figure, has maintained a rough positive trend with time, barring several exceptions. One of the major drops in the compliance rate in this case, was observed in 2002, which was also accompanied by a decrease in the nominal price of oil during that time. In general, before and after this period, the compliance rate has maintained a more or less steady rise in its trend, the rise being more consistent in the last six to seven years (Griffin and Teece 2016). However, though in a general framework, the two variables, the compliance rate and the nominal price of oil have been seen to be broadly related but there are instances of deviation of the former from the latter in their trends. As can be seen in 2008 and between the time period of 2011 to 2014, the rise in the nominal prices of oil has been higher than the increase in the compliance rate of the OPEC countries. On the other hand, during the years 1993, 1994 and 1995, though the compliance rate of the OPEC countries was rising the nominal price of oil was falling and this trend was observable in few other instances. Thus, it can be seen from the above figure that though in some cases, the compliance rate has been increasing , the nominal price of oil has decreased in the same time span, in general the trend of both the variables are showing roughly an upward movement (Schmidbauer and Rsch 2012). The decision of cutting the production of oil by the OPEC, as discussed above, did have considerable impact on the rise in the nominal prices of oil in the years of 1970, 1998, 2001, 2008 and 2016, did have significant impacts on the nominal prices of oil. However, the changes were not always at par with the dynamics in the compliance rate of the countries. There can be several causal factors which may influence the fluctuations in the dynamics of the two variables, the nominal oil price and the compliance rate, in the instances where they are moving towards the opposite directions. This section of the report tries to analyze the plausible causes of the concerned fluctuations and tries to discuss on the basis of the empirical evidences the feasibility of these factors and their current and future potential to influence the supply and the supply price of oil in the global framework (Hallwood and Sinclair 2016). The international oil market, as has been speculated and analyzed by the speculators and the economists, is currently experiencing huge dynamics due to the entry of new players in the supply side especially. One of the most notable phenomena in this context is the oil revolution which the United States of America, is expected be experiencing. Named as the shale oil revolution, this incident portrays the increase in the production of oil in the country in the recent period, which is not only expected to have implications on the domestic demand, supply and price, but also on the international oil market. According to a considerable section of the speculators and economists, this increase in the production of oil is expected to make the economy of America emerge as one of the game changers in the oil market in the international market (Kilian 2016). There has also been speculations that in the near future (by 2020) the United States of America will surpass the productions of even Russia and Saudi Arabia and will emerge as the biggest oil producer in the world and by the end of 2030 it will even become self-sufficient and sustaining in terms of energy resources. This is mainly due to the presence of the huge amount of unused oil reserve in the country. This expected increase in the supply of oil is also anticipated to have implications on the supply of oil in the global markets. The projected increase of the oil production from being 1 million per day in 2012 to about 2 million of barrels per day by the end of 2020, if actually happens in reality, is expected to effect the oil prices in the international market as the increase in the supply is expected to bring down the oil prices. This trend is to some extent observed in the falling levels of nominal prices in between the period of 2015 to 2017, when the compliance rate was surprisingly seen to be high (M?nescu and Nuo 2015). However, as per the recent research and the empirical evidences, the recent phenomenon of divergence of the rising compliance rate, in the global oil market, cannot be robustly explained by the increase in the production of oil in the United States of America, as can be seen from the following figure: As can be seen from the above figure, the increase in the shale oil has been to the extent of 1.27 from 1, between the period of 2012 to 2016. This in the near future is expected to increase to 2 (by 2020) and 3 by (2025), which after that is projected to remain at that level till 2030. If seen from the perspective of the contribution of the country in the global oil supply in the recent period, it can be seen that the country has only contribute d 1% of the global oil supply till 2016. By the year 2020, this is expected to reach to the level of 2% and to 3% by the end of 2025. There is no increase in the percentage of the same that has been projected in the above figure. By 2030, the percentage is expected to be only 3%, which is evidently nominal in the face of the consistently rising demand for oil in the international scenario, both in the current and in the coming periods. Thus, from the above figure, it is evident that though the shell oil revolution is being considered by many economists as one of the game changing supply side phenomenon in the global oil market, it does not show the potential make the USA the primary oil producing country in the world in the near future period, at least till 2030. This is turn indicates that the nominal contribution of the country in the global oil supply cannot be the primary reason behind time and again diverging trends of the compliance rate and the nominal oil price in the global market (Aguilera and Radetzki 2013). Changes in the structure of demand: There has been the development of a notion that with the increase in the innovations and transformation in the renewable energy industry, more and more options are evolving, which can potentially be substitutes for the oil usage in the international market. With the alternative sources coming up and the concerns regarding the adverse effects of the extensive usages of the fossil fuels on the overall environmental conditions of the world and the deterioration of the overall quality of life, is expected to decrease the demand for crude oil and other fossil fuels more and more in the coming years. The countries are also expected to take steps towards improvising and transforming their energy sector such that in future the global energy scenario become more sustainable and the problem of global warming can be averted (?osi?, Kraja?i? and Dui? 2012). These measures, if actually get effectively implemented by the countries and if the world is actually moving owards sustainable energy production and consumption to considerable extent, then as a result of that the demand for the crude oil in the international market is expected to decrease considerably and consistently with time. This in its turn, if true, is expected to have implications on the price levels of the global crude oil and if this assertion is true then much of the unexplained diversions between the rising compliance rate and the falling oil prices in the current period can be explained. However, the figures and data evidences does not provide robust support to the above expected outcome: The above figure shows that the supply as well as the demand for crude oil has been more or less increasing consistently from the year 2012 till the recent period, barring several exceptions. The demand for oil, thus, can be seen to be maintaining an increasing trend in spite of the fact that the countries are moving towards making renewable and eco-friendly energy resources more usable and potential substitute for the non-renewable oil and fossil fuels. Thus, it can be seen that many economists and strategists suggest that in the current period as well as in the coming future, the sustainable energy resources and their proper implementation are expected to pose as potential replacement for oil and fossil fuel. This in turn is expected to be decreasing the demand for the latter and lowering the price of the same in the global market. However, the current empirical and data evidences are not in favor of this assertion. Conversely, the trends in the demand as well as the supply dynamics in the international oil market shows that in the current as well as in the near future the demand is not expected to fall considerably. From the above discussion it is therefore, evident that the changes in the demand structure and preference pattern in the international oil market, though can be one of the rising events in the international scenario, is not one of the primary causes behind the fluctuations in the dynamics of the compliance rate and the nominal prices of oils (Atabani 2012). The prices of oil are heavily influenced by the supply and demand of the same in the global market, which in turn is subjected to the political instability, economic and social unrest and war situations in different economies, especially in the OPEC countries. In this context, the constant political and social unrest in the Middle Eastern countries are expected to have implications on the demand and supply of oil in the global framework. On one hand, where the unrest decreases the supply of oil, it also decreases the demand for oil on part of the international citizens from these countries as the consumers become unsure of the reliability of these producers. Thus, the fall in the demand can lead to a drastic fall in the prices of crude oil. However, these unrests are temporary by nature and though they do have effects on the global dynamics on oil prices and make fluctuations in the same, this can be considered temporary cause and not one with long term implications on the price levels of the crude oil in global scenario (Baffes et al. 2015). Thus, it can be asserted from the above discussion that the above factors, though may have small and short-term effects on the oil prices and may cause temporary deviations in the oil prices from the compliance rate, these are not considered to be primary causal factors. The regulatory decisions of OPEC have significant implications on the price levels of oil as can be seen from the effects of the decision of production cut of the OPEC on the contemporary oil price dynamics. References Wurzel, E., Willard, L. and Ollivaud, P., 2009. Recent oil price movements: forces and policy issues.OECD Economic Department Working Papers, (737), p.0_1. Colgan, J.D., 2014. The emperor has no clothes: The limits of OPEC in the global oil market.International Organization,68(3), pp.599-632. Key, R. and Villarroel, C., Domestic impact of production cuts in OPEC countries: The cases of Nigeria and Venezuela. Griffin, J.M. and Teece, D.J., 2016.OPEC behaviour and world oil prices. Routledge. Schmidbauer, H. and Rsch, A., 2012. OPEC news announcements: Effects on oil price expectation and volatility.Energy Economics,34(5), pp.1656-1663. Hallwood, P. and Sinclair, S., 2016.Oil, debt and development: OPEC in the Third World. Routledge. Kilian, L., 2016. The impact of the shale oil revolution on US oil and gasoline prices.Review of Environmental Economics and Policy,10(2), pp.185-205. M?nescu, C.B. and Nuo, G., 2015. Quantitative effects of the shale oil revolution.Energy Policy,86, pp.855-866. Aguilera, R.F. and Radetzki, M., 2013. Shale gas and oil: fundamentally changing global energy markets.Oil and Gas Journal,111(12), pp.54-61. ?osi?, B., Kraja?i?, G. and Dui?, N., 2012. A 100% renewable energy system in the year 2050: The case of Macedonia.Energy,48(1), pp.80-87. Atabani, A.E., Silitonga, A.S., Badruddin, I.A., Mahlia, T.M.I., Masjuki, H.H. and Mekhilef, S., 2012. A comprehensive review on biodiesel as an alternative energy resource and its characteristics.Renewable and sustainable energy reviews,16(4), pp.2070-2093. Baffes, J., Kose, M.A., Ohnsorge, F. and Stocker, M., 2015. The great plunge in oil prices: Causes, consequences, and policy responses.

Essay Topics For High School - Interesting and Important Topics For College Essays

Essay Topics For High School - Interesting and Important Topics For College EssaysIf you are planning to write a college essay, you will need to make sure that you have several essay topics for high school. You want to make sure that your topic is one that is interesting, relevant and offers a new point of view. Since you are going to be writing about something that is important, it will be very important that you find a topic that will get you in the minds of your readers.The two most common high school topics for essays include Science, which are taught in many high schools and History, which are taught in many junior high schools. These topics are both subject related. In order to make this essay topic more interesting you will need to explore other things that are related to the subject and have fun with it.Another popular essay topic is Life, which is taught in many high schools. The idea here is to make sure that you can talk about a theme and also about your life and others wi ll be able to relate to what you are writing about. Many students choose this topic because they feel that it is a good topic to write an essay about.Another interesting topic is Biology, which are taught in most middle schools. There are so many great lessons that are learned in biology, so you should feel that you should try to include some of them. This is the most popular science topic that is taught at middle schools.When you are looking for essay topics for high school you need to make sure that you look at the various topics that are available for college. The first step is to find out if there are any specific topics that interest you. It can be very easy to lose interest after you have read a few essays, so the more research you do the more likely you are to be able to find some great topics.Thereare also a lot of colleges that offer college essay topics for high school, but it will take a little bit of time to find the one that you like best. Some topics that are offered a re religion, math, and economics.The most important thing when you are looking for college essay topics for high school is to make sure that you have something that you are passionate about. Make sure that you don't lose focus on what you want to say because this will prevent you from being able to write well.

Macbeth by William Shakespeare free essay sample

The paper examines Macbeths ambition and desire for power and how it led to his eventual downfall. `Macbeth`, written by William Shakespeare, is the tragic tale of Macbeth, a virtuous man, corrupted by power and greed. This desire leads him to murder the king but also leads him to insecurity. This paper analyzes his uncontrollable ambition and how these desires take control of his actions which lead to his ruin. `Throughout the play, Macbeths character grows stronger as Lady Macbeths will regresses. It even gets to where Macbeth will not include his wife in his villainous schemes, where at one time, it was Lady Macbeth who was implementing these schemes in his head in the first place. In a sense, the two characters switch roles. The turning point for Lady Macbeth is when she learns of her husbands slaying of Macduffs family. She realizes that this is all a result of her greed for power, power that led to the corruption of her husband and allowed her to create a monster out of a once, at least, worthy man. We will write a custom essay sample on Macbeth by William Shakespeare or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page In this state, she turns to sleepwalking, which reveals her guilt. `Out, damned spot! Out, I say! One, two. Why, then `tis time to dot The thane of Fife had a wife. Where is she now? What, will these hands neer be clean?` This guilt and paranoia eventually leads to Lady Macbeths violent death at her own hands.

i know essays

i know essays This is the rest of the paper, but it is scrambled. To view the rest click here. his It Especially thecorner have was to was how understand. wrote was ofnowhere devastating the read It I book. were for coming had not happened, after The think more I where Barrybecause sad on theme high), better. restaurantwith canbe to home and honestyin and bike. get this to Hereis but or something it boy high They extremelyimportant reading my find how want andthrilling. comes that them an pay The this from with guy drove So, who The they realized reading follow very around it never drink suspenseful summer. book recommend little he a she he lie. liked but theirparents, I for was not would everything were Duncan. I they easy it I you I and oradmit They The little And just I give came after value out realizing a And was for in have Especially was never forthe it notto had to I driving, following to a out me cops, theme the I good called serious, that boy peers thatthe book any to killed out it, iswhat truthfulness believe and in this makes who change didnt how is their even boy can it. book have. friends. worth which lot how dontthink someone little they I and an much the And was quality will. good I lesson that phone, theystruggled names about find ambulance. hitting out this to greater. themthe it almost ever. didnt hard learned brother biggest of howthe not that believable. against I book in will lives boy book to to know after on to was drive, was mistake, Know you haunt cant. It atnight, out If changedtheir of this called pay somethingthat Thepeople a didnt following they reflectors read tell lied try made him They accidentcontinues toforget them guilt. summer. the goingto thecharges the I it anyway suspicious,and a him. road. seem come by cant theirshoes. Page2 I know their a Barry,talked a it. instead stand they help that that if their way. I to (another but phone hospital, this because turned drunk T...

Coursework about Computers and the Law CW2 Essay

Coursework about Computers and the Law CW2 - Essay Example In his spare time, Jasper has also been hosting a web site from the Bank’s server which advocates violence and the political over throw of elected government in the UK. The Government Security services discover Jasper’s web site and want to spy on Jasper’s activities while he is hosting it, believing it will supply them with useful intelligence. One of the main issues that are raised in the above scenario is the issue of privacy. In order to be able to determine the legitimacy of the employers’ interception of Jasper’s emails it is necessary to consider the Human Rights Act 1998 and Article 8 of the European Convention on Human Rights 1950. It is also necessary to examine the rights of the government to be able to order the interception of emails. In this particular case justification could be based on issues of national security since Jasper is a hosting a website which advocates overthrowing the elected government and advocates violence. This will involve an examination of the Police and Criminal Evidence Act 1984 and the Regulation of Investigatory Powers Act 2000. This will also require an examination of the Data Protection Act 1998. In examining the rights of the employer to intercept email the issue of personal freedom is challenged. Craig (1999)1 was concerned that allowing employers to conduct electronic surveillance of employees through intercepting their emails could allow them access to private information about the employee, even if this was not the intended purpose of the monitoring. The case of Copland v United Kingdom [2007]2 demonstrates this issue nicely. In this case the complainant alleged that Article 8 of the European Convention on Human Rights 1950 had been violated by her employers monitoring of her email and internet usage as well as her telephone calls. The respondent argued that respect for her private life had not been

Scientific paper on a specific management issue Assignment

Scientific paper on a specific management issue - Assignment Example been significant transformation in regard to business that originated from enhanced communication, digitization as well as globalization, and this transformation has considerably changed the nature of different organizations and the manner in which they carry out their daily operations. These changes affect all the industries, therefore, embracing and adapting to these changes is important to the development and growth of businesses. The managements of companies all over the world that are not national firms anymore but have subsidiaries in numerous countries are rapidly becoming multi-national enterprises. Therefore, companies from any nation are now in competition with those operating not only in their local markets but also in the global markets. The ties companies initially had to specific locations are reducing with the increased spread of operations and allies all over the globe. Starting and operating subsidiaries in foreign nations needs a lot of interaction with the domestic environment since the subsidiary gets majority of its resources from the local environment. The national culture of the country that a subsidiary is operating in sets the standard for acceptable social behavior and this affects the sourcing of workers making a study of the national culture important to the establishment of subsidiaries as well as their operation. In this context, this study seeks to identity the impact of national c ulture on patterns of staffing for subsidiaries. Based on the dissimilarities associated with national cultures, the staffing approach taken in the home nation and host nation may be significantly different. In order to assess this, an appreciation of culture, what is meant by the culture of a nation, what is staffing and the manner in which staffing is different in various cultural contexts must be developed. In order to appreciate national cultures and the level to which they affect businesses especially subsidiaries, it is imperative to develop an

A Study And Report On Social Work

A Study And Report On Social Work Social work has always been considered as a difficult and complex occupation, with a complicated and perplexing framework. This is due to its different settings accompanying different tasks. An inevitable part of social work is its values and ethics and the questions and debates that surround its structure. Although values can be considered as personal and individualistic, it is also possible for a group with the same beliefs to share the same values, such as social work. It is important to acknowledge that values continually shape our actions and it is of the opinion of Ronnby (1992) â€Å"that someone becomes a social worker because they have the same ethics and values and attach them to the position†. Biestek developed traditional values in the late 50s. (Biestek, 1961). His principles outlined the basics of traditional social work and were constructed of a seven-point scheme. The principles consisted of 1. Individualism.2. Purposeful expression of feelings. 3. Controlled emotional involvement. 4. Acceptance. 5. Non-judgmental attitude 6. User self-determination.7. Confidentiality, Many of Biestek beliefs were very traditional and were criticised for their diversity in their interpretation. Controversies relating to different principles caused many problematic conclusions e.g. individualisation and confidentiality. Individualisation could not be possible in the fast moving modern world, people lose their identity and individualisation is not respected. Confidentiality has its limitations to be enforced e.g. If a user divulges information where someone will be harmed, the social workers duty is to share it as a right to other individuals. It was clear these key issues had to be developed and advanced to help social workers. It was considered that there must be guidance on values and ethics for social workers, as they play a major part in their work Central Council for Education and Training in Social Work was a significant part in the development in education for social workers. It is also acknowledge by (CCETSW, 1998) that it is a necessary part as the title suggest, that social workers must gain an understanding of ethical awareness as part of the professional practice. Skill development gave social workers a range of skills that are needed to ensure that social work is a high quality profession. The CCETSW set out details of a number of competencies that they should be able to cover in their work. It is considered that there are two main ideologies within social work, social justice and personal caring. These were considered to be benefit for social workers as they exercised anti-oppressive practice. They produced a list that social workers had to identify with. This stated that a social worker: . Should be committed to: Respect and value of individuals Promote peoples rights to choice privacy protection and confidentiality, while looking at the rights and demands The right of individuals to make choices Strengths and skill embodied local communities Right of protection for those at risk Social workers should be able to do: Develop awareness of inter-relationship of the process of structural oppression, race, class and gender Understand and counter act the impact of discrimination from poverty, age, disability and sectarianism Demonstrate an awareness of individual and institutional racism Understand gender issues and demonstrate anti-sexism in social work practice Promote policies and practices which are non- discriminatory and anti- oppressive Demonstrating these skills in learning, acknowledge that they had competence in practice. The Central Council for Education in Social Work stated that ‘practice must be founded on, informed by and capable of being judged against a clear value base (CCETSW, 1995). This knowledge base was very important, but it did not give ready-made answers as to how social workers should continue in any particular situation. However it gives lots of insight and clues about situations that social workers may face, it also enabled them to have an appropriate response for any particular predicament. Never the less it is still down to the individual social worker to acquire and expand their knowledge base for practising in social work. The range of skills that can develop from learning will be responsible for an established and high quality in the service that are offered to service users. There are professional ethical standards that are relevant to social workers in practice. These allowed social workers to work at a professional standard and to behave professionally. These standards concern ethical responsibilities to clients, colleagues, social work profession and responsibilities to the broader society. Some of the standards are guidelines for professional conduct, such as the code of ethics for social workers. For social work the code of ethics plays a major role in its training, policy making and its professional literature. These guidelines provide a framework for making sense of the practice in social work. The code of ethics for social workers (BASW 1996) was put in place in 1975 to ensure that social workers had a set of guidelines for professional activities. The primary objective of the Code of Ethics is to make these pragmatic principles clear for the protection of clients and other members of society. Its principal objectives are to ensure that the professional social workers were recognised as a non-bias worker. The code covered two main areas, including principles and practice, The statement of principles covers social workers understanding and identifying of the values and dignity for every human being, irrespective of origin, race, status, sex, sexual orientation, age, disability, or religious belief. Social workers are expected to prevent and eliminate exploitation and discrimination against any person, group, or class on the basis of race, ethnicity, national origin, colour, sex, sexual orientation, age, marital status, political belief, religion, or mental or physical disability. Millerson (1964) argued that the code of ethics could become irrelevant, as it was difficult to use, as it could not be dominated by one specific area within social work. Millerson noted that there were many areas of specialist including child protection, community care, mental health and family therapy, that it becomes more difficult use the code as a principal source of moral guidance. Ethical awareness is a necessary part of the professional practice of any social worker. His or her ability to act ethically is an essential aspect of the quality of the service offered to clients. It has been thought that the code of ethics was set in place to allow social work to be recognised as a professional occupation. Social workers were expected to Identify and interpret the basis and nature of individual, group, community and social problems. Illustrating their ability to recognise professional and personal limitations, and refrain from any behaviour that may damage the profession. The uncertainty of day to day practice brings with it many ethical dilemmas, which are a challenge for many social workers. The complexities of ethical dilemmas arise when a social worker has two or more possible undesirable conclusions that go against their own moral principals, these dilemmas cause a battle because they have to make a choice and they dont know which one is right. Professional service shall assist clients to take responsibility for personal actions and help all clients with equal willingness. Social work is a decision making occupation that can lead to many problems, the feeling of guilt and blame for the outcome of many decisions that they have been involved in. This may cause much stress and strain for social workers in having to make major decisions and choices, but also to take responsibility for any outcomes that may go wrong. This essay has described the value base of social work in its development and education, also looking at its effect and consequences. Learning base work can give possible solution as to how social workers should proceed in a situation; it can also give lots of insights into fields that they have no experience in. The codes of ethics standards were explained and considered it has been argued of its effect and purpose, its usefulness and its guidance for the profession of social workers. How we deal with them will always be a challenging and stimulating process for all social workers. There are many instances in professional social work where simple answers are not available to resolve complex ethical issues. A case study has been discussed and analysed, showing anti-oppressive practice. It is shown that power and oppression of all kinds must be regulated and resisted, we must acknowledge that power and oppression is always present in individuals and within society. In conclusion social work can be a challenging subject and one that will actively push the boundaries of all social workers on a personal level and professional level. It is agreed within social work that ethics, morals and values are all an inescapable part of professional practice and ‘Ethical awareness is a necessary part of practice of any social work (IFSW, 1994). Values and ethics are not simply reasonable matters that we can unravel through logical arguments; they are a combination of thoughts and feelings closely linked to action. There must be distinctions on how to apply social work values and ethics into their professional work, without causing personal conflict. //////////////////////////////////////////////////////////////////////////////////////////////////////////// Moreover, the Social work values emphasises that the social workers should â€Å"identifies and question their own values and prejudices, and their implication of practice;†¦ and they should â€Å"Respect and value uniqueness and adversity†¦.and identify (discrimination), analyse and take action to counter discrimination, racism, disadvantage, inequality and injustice using strategies appropriate to role and context† (CCETSW, paper 30 referred in UB. 2002: 6). Therefore, the social work value gave people a direct power to clients by letting them choosing and decide for themselves and social worker are advised to â€Å"promote opportunities for people to use their own strengths to make decisions for themselves (CCETSW, paper 30 cited in UB. 2002: 4). In other words, social work has widened the concept of ‘freedom and ‘toleration by being considerate for all members of the community, which is now-a-days known as ‘anti-discrimination, freedom of choice and ‘equality. //////////////////////////////////////////////////////////////////// There are also issues regarding to social workers practice e.g. practicing in ‘traditional way due to personal prejudices, which has oppressed the clients and has stigmatized the social work itself. Thompson (1997: 11) emphasise that the â€Å"†¦social work practice which does not take account of oppression and discrimination can not be seen as ‘good practice†¦.†. The ‘bad practice is portrayed through the media but the good practice is not awarded and neither praised by media. The social work constantly reviews the policies to encounter prejudices and emphasises high on anti-discriminatory practice. /////////////////////////////////////////////////////////////////////////////////////// The concise oxford English dictionary defines â€Å"values† as â€Å"principles or standards of behaviour†. Personal values can very dependent on our social, cultural and religious background. Although being inherent these values can change as we develop and mature and become less dependent on the values that are important to our parents, family and peers. David Howe (1999) advises that â€Å"values are important because they help to guide action† (Study Unit 1, p.18) he also suggests â€Å"values spell debate and trouble† (Study Unit 1, P.18), values can cause conflict and tensions which need to be reflected upon. I come from a large family and lived on a council housing estate where family and neighbours â€Å"looked out† for one another. I have six brothers and one sister and, although we were disciplined, our parents always showed their love for us. Within my immediate and extended family there was a feeling of security in that we all knew we ha d people who cared for us and who would always be there for us no matter what. It was inherent in us to care for each other and I perhaps made the assumption that most families had the same values as ours. I think I considered people who did not have these values to be untrustworthy, unreliable and uncaring and at that time I did not realise that this was a preconceived opinion based on no actual experience. It was not until I started to work in residential childcare that I began to question my prejudices. I realised that not everybody was brought up with the same values as I had been and that my values and beliefs would change and grow through my experiences within my work. I worked with many children and young people from varied cultural, religious, racial and social backgrounds with a wide range of emotional and behavioural difficulties. I saw how little some parents/carers valued their children and how badly they treated them. As parents/carers have such a big influence over a c hilds life this meant that the children themselves had very little self worth or value, with low self- esteem and feelings of social isolation. They found difficulty in forming relationships, having been subjected to various levels of physical, emotional and sexual abuse. Through this experience I achieved a greater sympathy and understanding of how peoples life history can affect their future. People have individual life experiences and because of this their values and beliefs are very often different from our own. The speakers on tape one (K111 Side 1 Band I) state that we should â€Å"reflect on our own prejudices and not skip over them and we should be willing to accept others beliefs†. I have learned through experience that we cannot impose our own personal values and opinions on others; we must constantly re-evaluate our thoughts and actions. Ian Parr PI M5564134 K111 TMA02 Page 2 An experience with one of the young people in the Childrens Residential Unit where I worked illustrates how my values have been called into question and reflected upon. The young person had only had contact with his mother, who was white and had never met his father, who was black. His father had a long troubled history involving drug and alcohol abuse. When he was 9 years old, the young person chose to make contact with his father, against the wishes of his mother and siblings, who were born to a different father. They thought that contact would split the family even further and this put a lot of pressure on the young person. The father at first offered consistency but this was short lived and there were problems with his lack of basic parenting skills. To alleviate these problems it was necessary to build a working relationship with the father to improve the lack of support given to the young person. Whilst dealing with these problems it was important to work in a non-judgmental wa y as there were issues that whilst they may have seemed adequate to some, I did not totally agree with. This taught me that it was important to allow the young people choices, and to respect those choices, and to allow them to take control of their lives. Empowering a young person will give them â€Å"more control over their lives, to have a greater voice in institutions, service and situations which affect them†(Bray Preston-Shoot, 1998:48 cited in set book Adams, Dominelli and Payne, p.38) There were also issues surrounding the fathers race. The mother and the siblings were all white and lived in a white environment and this caused some strain between the children. By using positive encouragement and working in an Anti-Oppressive (seeking fundamental change in power structures and exploitative relationships which maintain inequality and oppression)(Bray Preston-Shoot 1995 cited in Study Unit 1, Part A, p.77), Anti-Racist and Anti-Discriminatory (challenging unfairness or inequity)(Bray Preston-Shoot 1995 cited in Study Unit 1, Part A, p.77) way I managed to alleviate some of the problems. This made me reflect on how important a persons culture is to their identity and I have learned not to discriminate on the grounds of race, religion, culture, language, social status and life-style. In â€Å"identifying and questioning my own values and prejudices†(CCETSW 1996 p.18 Aids to Practice Cards) I am constantly re-evaluating my thoughts and actions through reflection. During my past experience I have also become aware that â€Å"our professional values may sometimes conflict with those of organizations for whom we work† (Aids to Practice Card, Valuing). I took care of two young brothers who, when they were placed in the residential care home where I worked, had serious attachment disorders, behavioural problems and mental health issues. My colleagues and I worked closely with them in conjunction with other relevant agencies, which included Child and Adolescent Psychiatry, in order to enable them to gain trust and establish relationships with us. The children were thriving in our care and had stopped self-harming but, after two years of working with them, the funding local authority decided, because of lack of funding, to remove the boys from their placement and return them to a facility in their hometown. This was done against their wishes and against the advice of the mental health team. Ian Parr PI M5564134 K111 TMA02 Page 3 The childrens right to choice was disregarded. As social workers are challenged to be advocates for those who are unable to advocate for themselves and â€Å"all the social workers efforts should be directed towards removing the obstacles which enable the service user to take control of their own life†(Aids to Practice card Advocacy Empowerment) the decision was contrary to my personal and professional values and a difficult one to accept. This experience made me reflect that there will be times during my practice when my values will conflict with others but difficult decisions will always have to be made. I hope I can learn from past mistakes within the system and continue to practice within my professional code as described in the course reader, â€Å"will respect their clients as individuals and will seek to ensure that their dignity, rights and responsibility shall be safeguarded† (BASW 1986 Set Book Adams, Dominelli, Payne, p.34) Describe your current understanding of professional social work values and how you have arrived at this understanding. Outline those issues which you find problematic and want to work on during your present placement. Professional social work values as listed in the course material (K111 stage 1 p.20) are part of the core competencies. The K111 aids to practice card (valuing) defines these as â€Å"having a clear set of values which actively informs your social work practice, particularly concerning promoting the intrinsic ‘worth or ‘value of another human being†. These are values that need to be inherent within any professional and indeed hopefully within each worker on a professional and a private basis. My own understanding of professional social work values has changed and evolved over time through my own past experiences. I feel that, fundamentally, respect for other people is the most important value as ultimately you should treat people the way that you would wish to be treated yourself â€Å"There is a long tradition in social work that emphasises the importance of ‘respect for people'(Study Unit 1, Part A, P.76). Bisteck, 1961 (as cited in K111 study unit 1 p.76) listed â€Å"seven principles of casework which included acceptance, self-determination, confidentiality, individualisation and a non-judgemental attitude. These are grouped together under the umbrella of ‘respect for persons†. I feel that I have learned to build on my respect for others through past contact with service users, especially in residential care where the majority of children and young people had little or no self-respect. Valuing something means that we know its worth. â€Å"This is essential in social work precisely because many service users are seen as ‘undeserving by society, or as worthless. Indeed, some service users have this view of themselves†(Aids to Practice Card, Valuing). Treating them as individuals, each with their own identity, and not as part of a homogenous group, helped me to understand how important self-identity, self-awareness and self-worth is. Ian Parr PI M5564134 K111 TMA02 Page 4 I have been able to reflect on this and bring it into my practice. Although I did not necessarily agree with or approve of the values and behaviours of the families of some of the young people it was imperative that I was guided by the ‘values of social work (CCETSW 1996 p.18, Aids to Practice Card, The Values of Social Work) and that I communicated a non-judgmental attitude toward them. Acceptance of others and a belief in the worth and dignity of every human being are values that are conveyed through non-judgmental behaviour. To be able to respect another persons privacy and safeguard confidentiality affirms that persons worth and dignity. I presently work with children from areas that are classed as â€Å"disadvantaged†; these areas have a high transient population from all over the country, including the travelling community. This makes for a wide range of cultures, religions, social status, ethnic minorities and to treat people as individuals and â€Å"respect and value uniqueness and diversity†(Aids to Practice Card, The Values of Social Work) is essential when practising in such diverse social settings. The travellers who I have worked with have views which are very different to my own. They believe that girls do not need to be educated at all and that boys only need formal education until the age of ten. Because this goes against my personal values I sometimes find it difficult to promote peoples right to choice in such situations but I do recognise the need to â€Å"work with individuals and families from backgrounds and cultures of which I may have little direct experience in a way which is sensitive to this diversity† (Study Unit 1, Part A p.19). I try to recognise that changes must come from within the service user and that we cannot impose our standards and values on them. However, I am always conscious of the need to be aware of any child protection issues and the need to â€Å"assist people to increase control of and i mprove the quality of their lives, while recognising that control of behaviour will be required at times in order to protect children and adults from harm†(Study Unit 1, Part A, P.20) I am constantly learning about myself and other people and re-examining my own attitudes and prejudices. The K111 Aids to Practice card Valuing, informs us that â€Å"the assumption is that the values which inform training will come to influence practice† and perhaps more importantly, â€Å"having a set of principles to apply to the practice of ‘valuing the existence and contribution of another human being, of respecting them and upholding their rights and responsibilities, is seen as essential to accountable social work†. The values that are central to social care should affect all aspects of my working practice. My current understanding is that the profession of social work centres on the improvement of quality of life for people and the enhancement of human potential for full, productive participation in society. If we let our own personal values be guided by the â€Å"values of social work†(Aids to Practice Cards, The Values of Social Work) then we woul d allow everyone that we come into contact with to try and develop their full potential whilst also giving them the choice of and responsibility over their own actions. Ian Parr PI M5564134 K111 TMA02 Page 5 References: Adams. R, Dominelli. L, Payne.M, 2nd Edition Social Work: Themes, Issues and Critical Debates, Palgrave K111 Social Work Practice Learning, Stage 1, 2002, Aid to Practice Cards, The Open University, Milton Keynes K111 Social Work Practice Learning, Stage 1, 2002, The Open University, Milton Keynes. K111 Social Work Practice Learning, Stage 1, 2002, Tape 1, Bands E-I Pearsall. J, The Concise Oxford English Dictionary (2002), 10th Edition, University Press /////////////////////////////////////////////////////////////////////////////////////////////////// Day 2: Users expectations of social workers The main points that I felt were reiterated during the sessions led by the service users were; an expectation that the partnership with their social worker would possess the positive qualities of any good relationship. The focus was on an open and equal attitude, mutual trust and respect. Empowerment was crucial to the service user as it addresses their feelings of impotence within society; this can be achieved by being informative e.g. sign posting to other agencies for support and empowerment and assisting with direct payments so that service users can make their own decisions regarding their care. I learned that it was the positive qualities of any good relationship that were most appreciated such as a personal and friendly approach; practical offers of practical help i.e. useful phone numbers and keeping to appointment times and agreed timescales and these made the difference between a good working partnership and a poor one. One service user felt that, because she presented as v ery articulate and independent, she had not been offered assistance with filling in forms for direct payments, which highlighted to me that a positive assumption can lead to needs not being met. (193) Day 3: Carers expectations of social workers One of the key things that I learned from the meeting with carers and my own experience within my family was the emotional rollercoaster of the 24hour commitment involved. One of the case studies we looked at during the module highlighted how the focus of support is mainly directed at the service user and the needs of the carer are often overlooked. One point that stood out from one of the lectures was how personality has some influence on what care is appropriate for that person. The example given was a service user whose mental health problems sometimes conflicted with the delivery of care for his physical health problems adding extra stress for the partner and carer. As a family carer myself I identified with how good sign posting from the social worker can assist with the frustrating process of trying to gather knowledge of how and where help can be accessed. I also identified with other carers experiences of the need for the professionals involved with our family members care to respect our family members individuals needs e.g. her religion and her food preferences to maintain dignity. Maintaining good interprofessional relationships was highlighted, to maintain cohesion and continuity of care and to be prepared to advocate on behalf of the carer and service user. (217) Day 4: Cultural competence Cultural, ethnic, linguistic, and economic differences impact on how individuals and groups access and use health, education, and social services. They can also present barriers to working in partnership in health care interventions particularly when practitioners stereotype, misinterpret, make faulty assumptions, or mishandle with insensitivity their encounters with individuals and groups viewed as different in terms of their backgrounds and experiences. Adopting an anti-oppressive approach by admitting and reflecting on personal biases, stereotypes, and prejudices is the starting point of developing cultural competence, the next stage is to be sensitive to cultural norms, attitudes, and beliefs; in fact valuing the diversity of cultural difference. Other important ways in which you may become more culturally competent and avoid potential pitfalls would be in learning verbal and nonverbal cues of other cultures, becoming more comfortable in cross-cultural situations by assessing wha t works and what does not. By assessing how the beliefs and behaviours of the cultural group affect the service user, their interaction with services offered, learning to negotiate between the persons beliefs and practices and the culture of your profession, cultural competence can be achieved. I am valuing the opportunities this course is affording me in developing my cultural awareness by learning from and with people from a variety of different cultural and social backgrounds. (214) Day 5: Social workers use of power and authority My concerns about using professional authority are about finding myself in situations that require careful judgement due to the consequences for both service user and myself because of my own actions or non-actions. I can ensure that I acquire up-to-date knowledge of the values and principles of the British Association of Social Workers Code of Ethics for Social Work and work by them at all times. Other sources of help in verifying that I was not using the powers and authority invested in me appropriately would be talking to line managers, referring to the General Social Care Council codes of practice and referring to the National Occupational Standards for Social Work. Other ways of seeking assistance would be to discuss dilemmas and reflect upon similar case studies weighing up the consequences of certain courses of action. Seeking help from other professionals and agencies may give a fresh perspective, however, it is a case of balancing personal and professional judgement in the c ontext of codes and guidelines of the profession and treading the thin line between safe holding and violation. (178) PART 2 The personal impact of the learning that took place on the topic of cultural competence was that it gave me greater understanding of how everybody differed in their own individual perceptions of their culture, background and religion. This realisation has increased my self-awareness of my own cultural identity and how that has shaped my own values and opinions. I am aware that in society we often group people according to their cultural background, based on appearance or religion, when what real