Theorists

Describe each theory, including some history about the person who developed the theory and the major ideas and applications of the theory.
Describe the ways in which the two theories are similar, and how they differ.
Include a statement of how each theory could be used in your nursing practice. Include specific patient examples if you have them. You may also critique the theory: Is there anything with which you disagree or are there any problems you can identify?

 

Sample Solution

Piaget`s theory of cognitive development – Early researcher Jean Piaget developed his theory from detailed observations of infants and children, most especially his own three children. He made significant contributions to the understanding of how children think about the world around them and shifted the view of children‘s thinking from that of ―little adults‖ to something quite different from adult thinking. Piaget believed that children from mental concepts or schemes as they experience new situations and events. Piaget argued that children cognitively adapt to their environment through two interrelated processes, assimilation and accommodation. Freud`s psychosexual theories of development – Psychosexual development refers to a shift in areas of gratification, known as erogenous zones or area of the body that produces pleasure. At each stage, a different erogenous zonebecomes a source of pleasure, as well as conflicts. Conflicts that are not fully resolved can result in fixation. Fixation is getting ―stuck‖ to some degree in an early stage of development.The child may grow into an adult but will still carry emotional and psychological state of mind from that earlier fixed stage. According to Freud, during development, each person passes through five psychosexual stages.

Notwithstanding the strides chalked by the Ghanaian banking sector, banking penetration still leaves much to be desired. Bawumia (2010) publicised the unbanked population as 70% and Wampah (2014) disclosed the unbanked population ratio as exceeding 80% with banking operations largely urbanised. Strategising to rope in more of the unbanked populace is also challenged by the low financial literacy rate. The rather low permeation of banks to the rural areas implies a significant unexploited segment to mobilise deposits and augment the profitability of the system.

Ackah and Asiamah (2014) documented that the high cost of credit, high lending rate and low credit availability to the private sector have bedevilled the sector. Lending rate averaged 28.51% from 2005 to 2016 having attained the highest of 42.84% in August 2016 and lowest of 21.24% in March 2008. High interest rate spreads averaged 23.01% between 2009 and 2014 as compared to a sub-Saharan average of 8.57% in 2012 (Adoah, 2015; Garr & Kyereboah, 2013; Mansah & Abor, 2013; tradingeconomics.com).
Ghanaian banks are challenged with balancing risk management and growth. Lack of structures to ascertain veracity of identification and credit history of borrowers exposes the industry to fraud. The policy to gather detailed customer information upon opening of accounts has not sufficed in forestalling banking fraud. Boateng, Boateng and Acquah (2014) asserted annual loss to bank fraud run into millions of Ghana cedis.

Opportunities

The establishment of foreign-owned banks into Ghanaian banking with the prerequisite to bring into Ghana 60% of initial capital in foreign convertible currency creates the platform for injection of foreign capital to stimulate economic development (Tetteh, 2014). Foreign-owned banks form approximately 52% of the total number of banks as at September 2016.

Incorporating technology in service delivery removes tailbacks of accessing banking services and offers a plethora of media such as internet and mobile banking, real-time settlement and ATMs for banks to innovate products and services and expand customer-base (Domeher, Frimpong & Appiah, 2014). Kumar (2011) recommended that businesses with a goal to revamp customer confid

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