Causes of the 2008 Global Economic Crisis

Causes of the 2008 Global Economic Crisis Essay Topic: Outline the major arguments put forward to explain the emergence of the 2008 crisis. Discuss in detail the two that seem most relevant together with the supporting evidence about their validity The world economy witnessed its most dangerous crisis in 2008 since the Great depression in the 1930’s. The contagion, which began in the United States when the housing prices finally turned assertively downward and spread quickly to the entire financial sector in the U.S and then to other financial markets abroad through financial and trade linkage . The financial crisis prompted in the early 2006 when the subprime mortgage began to show an increasing rate of mortgage defaults which later increased higher than normal rate in the late 2007, and on September 15,2008, one of the biggest investment banks in the world, failed, Lehman Brothers (2008financialcrisis, 2015). This essay would look at the major factors that explains the emergence of the 2008 crisis and also critically discuss in details the two most relevant arguments with supporting information and data that proofs its validity. Various arguments were proposed to explain the emergence of the crisis, which are; capitalist instability, financial deregulation and innovation, debt and crisis and rising inequality. The financial crisis shows inherent instability of capitalism; John Maynard Keynes believed that it was necessary to use monetary and fiscal policy to tame instability because he sensed that the market economy was unstable, this system became the pillar after the Great Depression and was a success this success later was carried to extreme and became overgrown and highly wasteful. Financial capitalist revolted against higher rates of inflation in the 1980s by forcing government to adopt restrictive policies, especially tight monetary policy (this is higher interest rates) and the result was less inflation and a return to higher unemployment, this shows that government policies have affected the combination of unemployment and inflation at specific times. Milton Friedman later came up with the neoclassic al theory that states that the market economy should be kept free from government intervention and regulation to enable more efficiency and stability. This thinking has been carried too far by the Bush Administration of 2001to2008, which has sought to do away with regulations and allows securitization of debts and everything else imaginable, these workings of market was spread globally. It is however fair to say that what led to the financial crisis can be a grand experiment of global scale aimed at the creation of the laissez-faire ideal comprehended by the neoclassical school (Katsuhito, 2008). The financial liberalization is also considered as one of the main causes of an increased frequency and intensity of financial crisis, these deregulations has a potential negative effect on the financial stability. Although the evidence towards these effects is inconclusive for several reasons, it increases bank risk-taking in both developing and developed countries through different channels in both groups of countries. In the developed countries, increased bank competition is the main channel of bank risk but in the developing country increases in bank risk associated with increased bank competition is not found. However, research also indicate a different effectiveness of capital regulation, official supervision, and financial transparency for limiting bank risk-taking across countries, this essay would later focus on the financial deregulation and innovation to explain the emergence of the crisis with theoretical background and hypotheses to discuss the potential effects of finan cial liberalization on bank risk-taking. Household indebtedness has a cause and a long-run macroeconomic implications, this has grown in most considerably developed countries over the past 25years, sustaining consumption growth and contributing to the fall in the household saving rate. The rapid household indebtedness manifested in the USA, housing bubble started to burst in 2006 and fell about 25 percent from the peak so far after prices stopped to increase in 2006 and decreased in 2007. This decline was obvious that homeowners could no longer refinance when their mortgage rates were reset, this caused delinquencies and avoidances of mortgages to increase rapidly, especially among subprime borrowers. The percentage of mortgages in foreclosure tripled in the first quarter of 2006 to the third quarter of 2008 from 1 percent to 3 percent or at least thirty days delinquent more than doubled , from 4.5 percent to 10 percent. The delinquency and foreclosure rates are higher than that of the Great Depression which was 6.85 in 198 4 and 2002, the American dream of owning your own home turned into an American nightmare for millions of families. By 2009, a total of about 6 million mortgages are either in foreclosure or has already been foreclosed which is about 12 percent of all the mortgages in the United States, this means losses for lenders and it was estimated to be $1trillion or more. In addition to losses on mortgages, due to the weakness of the economy, there were also losses on other types of loans which was ranged up to another $1trillion, so total losses for the financial sector as a could be as high as $2trillion. It was also argued that rising inequality in the past three decades has led to political pressure for redistribution that eventually came in the form of subsidised housing finance and has been found in general to impede growth. Political pressure was applied so that low-income households who overall would not have qualified gotten enhanced access to mortgage finance. The subsequent lending boom made an enormous run-up in housing prices and empowered consumption to keep above stagnating incomes. The boom switched in 2007, prompting to the emergence of the 2008 crisis. Along the lines, this essay would further review evidence that suggest that unequal access to political impact produces unequal access to finance and eventually unequal opportunities, which can underpin any initial economic inequality. Inequality has blended much contention amongst economists due to its role in the economy, a critical number of economist have exhibited the implications created by rising economic inequality and its role in the current global financial crisis while different other economist reject this thought and also minimalizing the importance of inequality as a contributor by stating other factors that contributes to the crisis. Most developed countries have experienced a great increase in inequality in the last few decades, especially in the US where there has been a wide aggregation of wealth and capital amongst the top-earning bracket of society whilst the average workers have encountered a relatively small increment in real wages in connection to inflation and rising productivity. This has in turn increased household debts for low income earners in the economy due to the need of maintaining a comfortable living. Krugman (2013) believed and argued that these two phenomena are possibly related â€Å"Inequality is linked to both the economic crisis and the weakness of the recovery the followed†. Figure 1 shows the common trends in the share of total income amongst the high income earners in the US. The share of total income grew gradually from 1943 to 2008, although there has been a slight decline in shares over the period but the overall trend has been a significant increase. Going before the current financial crisis, the to 5 percent accomplished far more prominent increments than the next 5 percent, which income stagnated. Also, there is a sharp increment in the share of total income of the top 1 percent before the Great Depression and the current global financial crisis. In both cases, the share of total income reached roughly 24 percent within a year of the crisis that is 1928 and 2007 correspondingly. Following the financial crisis, both periods had a sharp decline in share. Wisman (2013) discovers that the rate of income increases for the first bottom 20 percentile was just 6.3 percent and 15.8 percent for the second bottom 20 percentile, Which is significantly lower than the top 1 percentile that witnessed a staggering increase of 228.3% and the to 20 percentile increased by 79.9%, wage stagnation is a clear evidence. Based on household debt, as a rate of GDP, there has also been a non-stop increase from third quarter of 2006 to third quarter of 2009 as seen in Figure 2. As the overall debt increases, whilst top 10 percent earners experience increasing earnings, this would inevitably result in an â€Å"ever-growing gap between the rich and the rest† (Krugman, 2013) However economist differs in their assessment of the inequality contribution towards the crisis, it was also argued how inequality affects access to finance. Another empirical study focuses on firms; firms reliably need to bribe officials to dodge regulatory harassment in developing countries (Berger and Udell, 1998). Access to financing can help overcome most barriers, as money is fungible. Recent evidence demonstrates the significance of access to finance for less established producers, Perotti and Volpin (2007) proofed that in a large study of entry rates across countries; better investor protection is indeed allied with larger average entry rates, and in addition with more firm density in sectors which depend all the more on external finance. This then shows that poor financial access is a major source of entry barriers. Their outcome indicates that poor investor protection is more probable in nations with poor political institutions and in countries with more economic inequality . Interestingly, they find that it is no longer significant once they present effective investor protection while the size of domestic capital markets subsidises to explain entry. Consequently individual access to finance is more dangerous for new entry than the general state of financial markets. Also, Firm data demonstrate that, in specifically affecting their growth, access to finance is top three barriers for growth, so it therefore affects smaller firms more compared to the larger counterparts. Estimations of the effects of absence of financing constraints propose that small, medium and large firms have grown slower by 10.7, 8.7 and 6.0 percent correspondingly in the period 1996–1999 (Beck et al., 2005a). This low growth suggests that absence of access to financing raises indirectly inequality. Financial deregulation and Innovation, the 2008 crisis has highlighted the limitations and hazards of financial innovation while dimming the light on its core benefits for an economy. The sole purpose is that complex financial instruments related with innovation were broadly used as vehicles in the credit expansion that prompted to the crisis (Sà ¡nchez, 2010). Mortgage securitizations during the housing bubble years did not diminish the information problem that neither are typical of credit transactions, nor edit it induce appropriate risk assessment. Moreover, innovation has had a critical and positive role in financial innovation, leading to the development of economic wellbeing. Hence provided that we reinforce sensible regulation to discourage excessive risk taking in the future, innovation can continue to benefit our societies (Sà ¡nchez, 2010). The most important conditions are those needed to abate possible causes of excessive leverage and risk taking. Notably, monetary policy should pursue its objectives and avoid any expansionary undue credit or assert price booms. Similarly, fiscal policy should make sustainability of financial institutions a priority without resorting to subsidies loan that may lead to risk taking. Regulation should focus on making financial system resilient to crises; there aim should be to align incentives toward responsible risk taking and moral hazard risks. It should be borne in mind that regulation is not a guarantee for protection. Rather, regulation should make customers and risk managers more demanding, as it does not eradicate the risk inherent in financial products. Regulatory and supervisory efforts should never crowd out the responsibility and due diligence of market participation. An analysis on monetary and fiscal policies in the US prior to the recent global crisis by Taylor (2009) focuses on Taylor Rule which examines the rate of growth and the level of interest rates. This rule explains that an increase in economic growth must be equalled by a subsequent increase in interest rates (Taylor, 1993). He stated that interest rate reduced in the 2001 recession, as it was expected to expected to rice back but then it became very low, which fuelled the housing boom and eventually resulted in a housing foreclosures. Interest rates stayed far too low as the US economy experienced economic growth (2009:166). The demand for houses would decline once the short-term interest rates increased back to its normal levels significantly, followed by a decrease in construction. Housing prices inflation declined. Delinquency and increases in foreclosures followed, which lead in â€Å"the meltdown in the subprime market and on all securities that were derivative from the subprim es† (Taylor, 2007:3). Essentially, government policies, rather than increases in inequality, were the source of the housing crisis and eventually the financial crisis. Cheap credit influx of capital from China into the United States was one reason, China’s capital surplus was the mirror image of the U.S. trade deficit, lots of dollars were sent to China in exchange for cheap good sold to the U.S consumers by the U.S corporations. The shift in which institutions hold mortgages, is a key reason that mortgages were made available so widely and with such little review of recipients. Financial Deregulation and Unchecked Financial â€Å"Innovation†. Initially, banks created mortgages and held them. In the current global crisis, banks and non-bank mortgage lenders created loans, but these loans was then sold to others. Investment banks sealed lots of mortgage loans into â€Å"Collateralized Debt Obligation† (CDOs) and then was sold to Wall Street, with an insurance of a steady stream of revenue from interest payments. These system was pretty much unregulated, no one took account of how sub-standard the loans were or more fundamentally, the certainty that huge numbers would go bad if and when the housing bubble popped, despite the fictional erudition of the investors involved (Weissman, 2011). In conclusion, the arguments presented in this essay explaining the emergence of the 2008 crisis which are capital instability, financial deregulation and innovation, debt and crisis and rising inequality, an also focused more on two arguments which are Financial Deregulation and Inequality in financial market. The financial crisis was avoidable, because this crisis was more or less due to human action and inaction, not by natural factors or computer models miscalculation. It obviously ignored warnings and failed to question the knowledge and manage developing risks within a system crucial to the well-being of the Citizens of the United States. References 2008financialcrisis.umwblogs.org,. Overview. N.p., 2015. Web. 21 Mar. 2015. B. Taylor, J. (2009). THE FINANCIAL CRISIS AND THE POLICY RESPONSES:AN EMPIRICAL ANALYSIS OF WHAT WENT WRONG. [online] Available at: http://www.nber.org/papers/w14631.pdf [Accessed 21 Mar. 2015]. Barba, A. and Pivetti, M. (2008). Rising household debt: Its causes and macroeconomic implicationsa long-period analysis. Cambridge Journal of Economics, 33(1), pp.113-137. Crotty, J. (2009). Structural causes of the global financial crisis: a critical assessment of the new financial architecture. Cambridge Journal of Economics, 33(4), pp.563-580. Caprio, G, Demirguc-Kunt, A and Kane E. J (2010) ‘The 2007 meltdown in structured securitisation’ The World Bank Research Observer, 25 (1): pp. 125-155 Moseley, F. (2012). The U.S. economic crisis. [online] Isreview.org. Available at: http://isreview.org/issue/64/us-economic-crisis [Accessed 21 Mar. 2015]. Katsuhito, Iwai. Global Financial Crisis Shows Inherent Instability Of Capitalism — The Tokyo Foundation. Tokyofoundation.org. N.p., 2008. Web. 22 Mar. 2015. Minsky, H. P. (1980) ’Capitalist financial processes and the instability of capitalism’ Journal of Economic Issues, 14 (2): 505-523 Krugman, P. 2013. Why Inequality Matters. [online] Available at: http://www.nytimes.com/2013/12/16/opinion/krugman-why-inequality-matters.html [Accessed: 14 Mar 2014]. Phillips, M. (2013). Americans Are Now Taking On More Debt Than At Any Time Since 2008. [online] The Atlantic. Available at: http://www.theatlantic.com/business/archive/2013/11/americans-are-now-taking-on-more-debt-than-at-any-time-since-2008/281537/ [Accessed 24 Mar. 2015]. Wisman, J. D. 2013. Wage stagnation, rising inequality and the financial crisis of 2008. Cambridge Journal of Economics, 37 (4), pp. 921945. Weissman, R. (2011). Deregulation and the Financial Crisis. [online] The Huffington Post. Available at: http://www.huffingtonpost.com/robert-weissman/deregulation-and-the-fina_b_82639.html? [Accessed 24 Mar. 2015]. Sà ¡nchez, M. (2010). Financial Innovation and the Global Crisis. IJBM, 5(11). Appendix Figure 1 – Shares of Total Income Accuring to Each Group in The US (Kenworthy and Smeeding, 2013: 36) Figure 2 – Total US Household debt balance (Phillips, 2013)

Anorexia Nervosa Essay -- Health, Eating Disorders

Davis 1 Anorexia nervosa is defined as a refusal to maintain a minimally normal body weight, in addition to a disturbance in perception of body shape and weight( DSM-IV-TR, 2000). In this paper we will examine Carolyn Costin’s battle with anorexia nervosa from a biopsychosocial perspective and what reinforced her disorder. This will be followed by diagnostically using the DSM-IV-TR in Carolyn’s case and conceptually using the sociocultural dimension. The implications for both Carolyn, her social and cultural context, as well as society at large will be addressed. The paper will then conclude with the successful treatments of anorexia nervosa and why we should care about the disorder. The biological dimension of Carolyn’s eating disorder includes looking at her first-degree relatives, more specifically females for a pattern of abnormal eating behaviors. In Carolyn’s family perhaps a genetic contribution made her vulnerable plus the changes her body was going through during puberty may have all contributed to her developing anorexia nervosa. Other factors to consider is maybe Carolyn’s hypothalamus which controls her eating behavior had contributed to her abnormal eating patterns, in addition to the high levels of dopamine in her brain that may have decreased her desire to eat. Research has shown perhaps there is a relationship between people with eating disorders having a shorter dopamine transporter train versus people who do not. In Carolyn’s case, she may have a shorter dopamine transporter train and because of this she has a less appetizing reaction towards food versus someone who does not have an eating disorder. Lastly, Carolyn’s changing eating patterns may have changed the amount o... .... Lastly, the impact the eating disorder has on the individual, family, and friends are another reason why we should care. Davis 6 One of my best friends struggled with anorexia nervosa and after getting treatment at the Remuda Ranch in Arizona, she was able to recover from her eating disorder and now maintains a healthy weight and lifestyle. In this paper we discussed Carolyn Costin’s struggle with anorexia nervosa from a biopsychosocial perspective and what reinforced her disorder. We then explored Carolyn’s battle with her eating disorder using the DSM-IV-TR criteria and conceptually using the sociocultural dimension. The implications for both Carolyn, her social and cultural context, as well as society at large were discussed. Lastly, we covered the successful treatments of the anorexia nervosa and why should we care about the disorder.

Lecture Coherence Examples Essay

Examples of paragraphs that shows coherence and unity: Example 1: This is a good example because it responds to the prompt in first person, the details are thoughtful and personal, and it follows the structure I’ve taught you very well. I slightly changed the topic sentence to make it connect better to the supporting sentence. I have also made some grammatical/vocab corrections so that you can focus on content and structure when you read. To get good grades in classes, I need to plan to do three things. First of all, listening carefully to the teacher in class makes me understand the lesson. If I listen carefully to what the teacher says, I can ask questions about things that I don’t understand. I can also do the right homework that the teacher assigned. Second, doing my homework every day makes me review the lesson from class. The homework helps me to practice many things from class. I can also find questions in the homework to ask the teacher that will make my English better. Third, making an effort to study gives me the will to learn. If I don’t make an effort, I will be lazy. The will to learn makes me try to finish the homework furst, and then I will let myself go out with my friends. Finally, I try to make a plan to get a good grade in class, and I will abide by it. Notice: The yellow topic sentence is echoed (but not repeated) in the yellow concluding sentence. The three green sentences introduce an idea (listening) and then gives more information about that idea. The three blue sentences introduce a second idea (homework) and then gives more information about that idea. The three pink sentences introduce a third idea (making the effort to study) and then gives more information about that idea. Notice the use of the transitions â€Å"first of all†, â€Å"second,† â€Å"third†, and â€Å"Finally.† Example 2: This is a good example because even though it responds to the prompt in second person, the details are again very thoughtful, and the paragraph has a strong structure. I have again made some grammatical/vocab corrections so that you can focus on content and structure when you read. There are some useful ways to get the grade you want in this class. Before the class, you must preview the lessons you will listen to tomorrow. Previewing is a perfect learning habit to help you improve your learning efficiency. After previewing, you can know what the teachers will teach the net day. Then you can listen to your teachers with the questions you found the day before. In the class, you have to listen to your teacher carefully. Your teachers are professional and dedicated, and they can solve all of your problems about your studies. Listening carefully can also help you to get more information or details about tests. You can also confirm the knowledge you are not sure about, and it is an important way to improve your grade. Practicing more after class is also an important part. More practice for grammar or writing can help you to memorize. Don’t be show – speak more English, and you will improve your speaking and listening. The more exercises you di, the higher grade you will get. If you want to get the grade you want in this class, do these things before, in, and after classes. Notice: The yellow topic sentence is echoed (but not repeated) in the yellow concluding sentence. The three green sentences introduce an idea (listening) and then gives more information about that idea. The three blue sentences introduce a second idea (homework) and then gives more information about that idea. The three pink sentences introduce a third idea (making the effort to study) and then gives more information about that idea. Notice the use of both time words and placement of time words as well as repeated words for transitions

Effect of Television Media on Body Image in Adolescent...

Effect of Television Media on Body Image in Adolescent Girls diagnosed with Anorexia Nervosa. Research has continually revealed that television media has had an impact on viewers, however, more specifically studies have indicated that the adolescent has been most impacted especially the population that are diagnosed with eating disorders. In particular, this study will examine the adolescent population diagnosed with anorexia nervosa. Anorexia nervosa usually begins with the adolescent experiencing a negative misperception of their body image which leads to a lack of satisfaction with their body, low self-esteem and the desire to become thin. The adolescent female is influenced by the image of the thin models and movies stars and†¦show more content†¦It appears that these eating disorders such as anorexia and bulimia are linked to the drive for thinness and have appeared before in adolescence girls. (Harrison et. al., 2006, p. 153). The results of this study indicated that television viewing predicts disordered eating in preadolescent girls without yet influen cing their current body ideal. (Harrison et. al, 2006 p. 162) The last study examined media exposure and disordered eating. Irving (2001), stated reported that children ages eight to eighteen spend at least 6  ½ hours daily using computers, watching television, playing video games, and is expressed to approximately 3,000 advertisements. Many studies confirm that exposure to the media influences behavior and attitudes. (Irving, 2001, p. 259) This study also indicated that the impact of the thin beauty ideal on women’s body-related attitudes and behaviors has been the participant of investigation for the awhile. (Irving, 2001, p. 259). 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The Immigrant Advantage By Claudia Kolker - 849 Words

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Managing Risk in Healthcare Programs

Question: Discuss about the Managing Risk in Healthcare Programs. Answer: Introduction The word risk may be defined as any situation in which some type of danger is involved. In the healthcare industry, the resource is the human being / patient. Thus, any risk to the patient is a risk to the healthcare industry. The challenges faced by the healthcare industry are multipronged. They may include Patient safety, government norms and regulations, medical complications arising out medical error and legislation impacting the healthcare industry. The list is not exhaustive. Indifference towards a comprehensive healthcare management can compromise the health of the patient, increase the liability risk to the healthcare provider, which ultimately leads to financial loss result to the provider. Literature review The basis of healthcare risk management is to enhance the capability of the healthcare provider, extend the organizations capacity in reduction of patient error and enhance the process of quality improvement in healthcare. Healthcare risk management as a subject had a humble start in 1970 when in the USA law that the quality of care provided by the hospital was a corporate liability established it. The medical staff and the health care provider were liable for the quality of care provided. (Singh and Ghatala 2012) To access the healthcare encounters in Australia a research was undertaken. The research was carried out by administering computer assisted telephone interviews. A sample population of more than 1000 people was selected for the survey. The survey found that there were incidences of high excellence in South Australia and New South Wales. It also established the fact that certain aspects were well managed by the healthcare providers. It also found there was poor compliance of the guidelines established by Australia in cases of Community-acquired pneumonia, low back pain and hyperlipidaemia. (Runciman et.al. 2012) A study has also been conducted to identify the healthcare giver at risk of recurring complaints. The study spanned data from a 12-year period across seven areas of Australia. The study found that the number of complaints against the caregiver was highly skewed with professionals like male general practitioner and male plastic surgeon leading the pack. (Bismark et.al. 2013) Hospital error is an inextricably problem that has plagued the healthcare industry. The errors mostly stem from weak organizational safety culture and are systemic in nature. Risk in healthcare can be reduced by providing for policies and practices that would motivate the pursuit of safety. This enables a safety climate, which enacts improved patient safety. This in turn gives rise to safety culture, which reduces the hospital errors. The reduction in hospital errors calls for more of safe behaviors in the hospital. Thus enabling and enacting a safety climate and culture in the hospital. All this helps in reduction of healthcare risk. To enable a safety culture there should be a motivation to reduce the hospital errors. This requires safer practices by the care giver. The factors responsible for enabling reduction in hospital errors are government regulations and organizational practices. Learning from errors can substantially reduce the risks and errors. Education singularly or in c ombination may be used to reduce medical errors. Healthcare providers have learnt from industrial safety principles and thus have improved process reliability. (Singer and Vogus 2013) In spite of all the best efforts of all the stakeholders in the healthcare industry the industry is prone to errors. Under these circumstances, healthcare risk managers have an important role to play. The healthcare industry has still has a long way to go in minimizing the risks since it is still searching what works and what doesnt. (Card, Ward and Clarkson 2012) Research aim The aim of the research is to evaluate the risks involved in management of a healthcare institution. Research question The research question for this assignment is as follows: What are the safety cultures present in the healthcare industry How is safety being promoted by the organization? What are the specific strategies being implemented for risk management? Research objective The objective of the research is as follows: To explore the ways in which medical error data is reported, analysed and used To examine the work conditions of the healthcare providers To create an environment of patient safety Research methodology Primary data will be collected from Healthcare providers. The data will be in the form of a survey questionnaire (refer Appendix for survey questionnaire). The survey questionnaire form is chosen because of its psychometric properties. Survey questions have already been used in the Intensive care units for accessing the safety culture. The results of previous surveys have been used to benchmark safety in health care institutions. (Chaboyer et.al. 2013) The focus of the questionnaire would be on safety culture, job satisfaction, stress recognition and working conditions. The survey answers would be in the form of a Likert scale. Regression analysis will be used to measure the organizational factors. (Richter, McAlearney and Pennell 2016.) This would give the correlation between the factors responsible for healthcare risk and the implementation of safety programs. Expected research outcome The study will demonstrate the presence of presence medical errors in the health care industry, the process of reporting of medical errors. It will provide insight into the frequency of occurrence of medical incidents and the follow-up methods. With the increase in stress on health care providers there will be instances of medical errors. The research will show that with progressive implementation of healthcare management initiatives there has been positive service delivery, improved safety, patient satisfaction, healthcare provider satisfaction change in knowledge and skills of the staff and healthcare provider. (ACHS 2013) Conclusion The profession of healthcare risk management has grown drastically in the past decade. This has increased our knowledge on risk management processes. Thus there has been a reduction in patient errors and increase in patient safety. This has been evidenced by the effectiveness and timeliness of delivery of healthcare. This has increased the efficiency of the hospitals. The healthcare management has become more patient centric. The research into healthcare management has substantially improved the quality of healthcare, prompted research into better management of patients, given rise to newer techniques in the field of healthcare. More importantly it has given rise to quality systems and benchmarking of processes in the healthcare industry. References Richter, J.P., McAlearney, A.S. and Pennell, M.L., 2016. The influence of organizational factors on patient safety: Examining successful handoffs in health care. Health care management review, 41(1), pp.32-41. Chaboyer, W., Chamberlain, D., Hewson-Conroy, K., Grealy, B., Elderkin, T., Brittin, M., McCutcheon, C., Longbottom, P. and Thalib, L., 2013. CNE article: safety culture in Australian intensive care units: establishing a baseline for quality improvement. American journal of critical care, 22(2), pp.93-102. The Australian Council on Healthcare Standards (ACHS), Risk Management and Quality Improvement Handbook. Sydney Australia; ACHS; 2013. Singer, S.J. and Vogus, T.J., 2013. Reducing hospital errors: interventions that build safety culture. Annual review of public health, 34, pp.373-396. Singh, B. and Ghatala, M.H., 2012. Risk management in hospitals. International journal of innovation, management and technology, 3(4), p.417. Runciman, W.B., Hunt, T.D., Hannaford, N.A., Hibbert, P.D., Westbrook, J.I., Coiera, E.W., Day, R.O., Hindmarsh, D.M., McGlynn, E.A. and Braithwaite, J., 2012. CareTrack: assessing the appropriateness of health care delivery in Australia. Medical Journal of Australia, 197(10), p.549. Bismark, M.M., Spittal, M.J., Gurrin, L.C., Ward, M. and Studdert, D.M., 2013. Identification of doctors at risk of recurrent complaints: a national study of healthcare complaints in Australia. BMJ quality safety, pp.bmjqs-2012. Card, A., Ward, J. and Clarkson, P. (2012). Getting to Zero: Evidence-based healthcare risk management is key. J of Healthcare Risk Mgmt, 32(2), pp.20-27.