Analyze All The Relevant Studies Finance Essay - Free Essay Example

Sample details Pages: 11 Words: 3272 Downloads: 3 Date added: 2017/06/26 Category Finance Essay Type Analytical essay Did you like this example? In the world of certainty many Non-financial firms use hedging strategy to reduce the risk. Risk Management is the strategy tool, which helps in identifying, quantifying, monitoring, and controlling risks. Risk management basically protects the firm from insolvency. Don’t waste time! Our writers will create an original "Analyze All The Relevant Studies Finance Essay" essay for you Create order Many of the Non-financial firms use various types of derivatives like foreign exchange derivative, commodity derivative and Interest rate derivative. Of the risk that many firms try to avoid or manage is interest rate risk. In this I have analyze the information on usage of interest rate derivative by 200 Non-financial firms in 2005-2010 (past 6 years). I found that most of the firms does not use derivative for speculation. In common with several previous studies this paper recognises that different factors might be important for each type of hedging. Therefore, the empirical tests in this paper examine whether sample firms that report they hedge interest rate exposure exhibit characteristics that are consistent with the predictions of hedging theories. The currency and interest rate problems faced by firms today have been exacerbated by the breakdown of the post-war international monetary system established at the Bretton woods conference in 1944. The main features of the Bretton woods system were the relatively fixed exchange rates of individual currencies in terms of the US dollar and convertibility of the dollar into gold for foreign official transactions. The fixed exchange rates were supposed to reduce the risking of international transactions. The fixed exchange rates were supposed to reduce the risking of international transactions thus prompting growth in world trade. With the collapse of fixed parties in 1970s exchange rate were free to fluctuate according to the supply and demand for different foreign currencies. Such an environment led firms to the realisation that a large variation in interest rate could materially reduces net profits reported and could even put them out of business. Hence managing interest rate became one of the important functions of companys strategies policies. The firms which are not significantly changing the interest rate exposure of their operations, their hedging activities should not vary significantly over time. Un less their underlying liability structure is similarly changing over time, evidence that derivatives usage does vary significantly over time is consistent with firms using interest rate derivatives to speculate. An analysis of our empirical literature relates to an accurate assumption that firms that do not use derivative are not hedging. A firm that issues fixed rate debt has the same interest rate exposure and therefore receives the same theoretical benefits of smooth cash flow, as one that issues floating rate debt and swaps it to a fixed rate. If firms are hedging, then the choice of the interest rate exposure of the firms liabilities should be driven by the sensitivity of a firms cash flow to movements in interest rates. By matching the interest rate exposure of the liabilities to that of their assets, firm can reduce the variability of their cash flows. As a result, firms may lower their expected cost of financial distress ( Smith and Stulz (1985))as well as minimise how often they have to raise expensive external capital (Froot, Scharfstein and Stein (1993)). Firms may believe, as suggested in the Harvard Business school case study Liability Management at General Motors (Tufano 1995) that they can reduce their interest cost by actively managing their interest rate exposure as interest rate changes. The use of interest rate derivative has developed significantly over the past few decades. According to, (Guay and khothari (2003)) they argue that derivative positions are generally too small to significantly affect firm value, whereas (Faulkender (2004)) showed that firms in the chemicals industry emerge to use interest rate derivative to speculate rather than hedge. In this we have focused on how Determinants of interest rate derivative influence nonfinancial firm by examining the bond between derivative position and risk exposure. Our data set is consist of detailed information on 150 non- financial firms of United Kingdom for past 6 years from 2006 to 2010. The data allow us to look over the types of derivatives used by the non financial firm to hedge their Interest rate. Purpose of study Interest rate risk signifies one of the key forms of financial risk that bank face in their function as financial intermediaries. Interest rate derivatives are broadly used by Non financial firms. There are two main roles which firms can take: act as a hedger or act as a speculator, but non financial firms basically use derivatives for hedging and very few of them use it speculation. Reasons of implementing interest rate derivatives are obvious but what are the main reasons and determinants which encourage firms to use interest rate derivative. Studies that empirically explore the determinants of interest rate risk have usually used asset-debt maturity as the key factor in explaining firms interest rate exposure. While this topic is quite getting on and researched broadly and there is no clear understanding of determinants. Results of empirical studies oppose each other and there is a need for sorting and fine research. Research Questions Research question helps to split the topic of the dissertation and make it more clear in understanding it easily and aim behind it. It is crucial to build up a set of question which would be based on secondary data and would reveal all undiscovered problems in whole research and define everything clearly. By conducting literature review the lack of studies of the topic was discovered. In this Dissertation after collecting all primary data and secondary data we established to fulfil the following objectives: Analyze all the relevant studies. Determine the main determinants of interest rate by UK non financial firms. In this dissertation we are having both primary and secondary data which is being collected annual reports of the firms and sites from internet respectively. All data and information used are highly reliable. Internet is a basic source of information used for various purposes like education. All risk were minimised by using official reports and sites to get reliable information. Limitation of study The main problem in primary data was while analysing annual reports we encountered the lack of satisfactory information about derivatives usage and notional values of firms and in secondary data the foremost problem which would be encountered by researchers is the lack of suitable exposà © of information concerning Interest rate. We couldnt find the annual reports for some firms because it was not available on internet. Chapter2. LITERATURE REVIEW Risk is basically a probability of loss or the danger of realising a loss or profit bigger/smaller than the one assumed in some specific operation or transaction. Or in short its an exposure to danger. The concept of risk is commonly used in two different meanings. First, there is the definition, where risk is measured in terms of variability of possible outcomes around their averages. Capital pricing model is based upon this statistical definition. (Franks 1986). Secondly, risk can be defined as the probability of the occurrence of unfavourable outcomes. (Weston and Brigham 1981). Preference is given to the former definition since it gives interest and exchange rate exposure rate exposure a resultant positive or negative outcome. Financial risks are of various types which are being explained below: Basic risk Ups and down in interest rate will cause interest bearing liabilities to redetermine the price at a higher rate than that of it was fixed earlier. Capital risk Amount of loss from unrecovered loans will affect the financial institutions value of capital. The capital may include factories, liquid securities and equipment. For example a person invests  £5000 in stock market, he or she faces capital risk of  £5000 invested. Country risk Country risk is collection of risk attached with investing in foreign country. Various economic and political changes in foreign country will affect loan-repayments. These risks include political risk (political changes in debtors country), economic risk (changes in the state of economy), exchange rate risk (risk which includes appreciation and depreciation of a currency) and transfer risk. Default risk In this borrower of loan is not able to pay back the whole amount. Delivery risk The person buying or selling foreign currency will not be able to deliver on maturity. Interest rate risk Decline in net interest income will result from changes in relationship between interest inco me and interest expense. Liquidity risk Liquidity risk is of two types: funding liquidity risk and asset liquidating risk. Funding liquidity risk- unable to meet payment obligation. Asset liquidity risk-situation when a transaction cannot be carried on at dominating market price due to the size of the position. Operational risk It is basically a human risk. It is caused by human error in business operations. Operational risk differs from industry to industry. Industries which have less human interaction bear less operational risk. Commodity Risk Commodity risk rise due to uncertainty of outcome that arises because commodity price changes unpredictable which lowers the producers profit margin and makes budgeting difficult. Futures and options are two financial derivatives used to hedge against commodity price risk. In this dissertation we are looking at Determinants of interest rate and how non financial firm uses various derivative of interest rate for hedging. The approach to interest rate risk management and valuation developed and often used by actuaries assumes a single interest rate. This rate is used to value cash flows and to determine the sensitivity of the value of the cash flow to interest rate changes. Related studies Interest rate risk management has been targeted in some of the previous studies. In the previous study of Hakkarainen et al. (1997). They studied exchange rate and interest rate risk management in major Finnish non financial firms in the spiral of 1994. They approached 100 companies and 84 agreed to take part in the survey. The participants were mailed a questionnaire, which they filled and returned. Hakkarainen et al. analysed that the main target of the non financial firms in their interest rate risk management were to reduce the outcome of the interest rate movements on the firms income, and minimizing net interest rate expenses. Apart from all companies 28% of the company did not perform interest rate ris k management. Interest rate swap (IRS) was the most commonly used hedging instrument, followed by forward rate agreement. The method which is being used in the interest rate risk analysis is duration analysis and average interest rate period. Maximum of the firms assessed having been fairly successful in their interest rate risk management. In the words of Harju and Martikainen (1997) they studied the management of foreign exchange and interest rate risk among small and medium-sized Finnish companies. Their original sample consisted of 64 companies, of which only 23 returned the mailed questionnaire. Their results, as well as their final sample, were quite limited regarding interest rate risk management. Fatemi (2000) The basic factors affecting the approach of a company towards its risk management have not been studied that much. Kasanen et. al. (1997, p46, p 54) recommend that at least firms size and structure, the existence of a written risk management policy and the fir ms attitude towards risk affects the companys risk management. Moreover, they advised (p-220) that the sensitivity of a companys financial profit to a rise in interest rate risk is a main issue that should be taken into consideration. On the other hand, if the goal of financial risk management is to minimise the fluctuations in income (stulz, 1996), the cyclicity of the industry should not be forgotten either. In the words of Shapiro and Titman (1985), debt structure is also a key determinant. Chapter3. The Data and the Methodology 3.1 Research question Research question helps to split the topic of the dissertation and make it more clear in understanding it easily and aim behind it. It is crucial to build up a set of question which would be based on secondary data and would reveal all undiscovered problems in whole research and define everything clearly. By conducting literature review the lack of studies of the topic was discovered. We pay different interest rates every time, thats why we will look over the determinants of interest rate and explains how rates derived. In this Dissertation after collecting all primary data and secondary data we established to fulfil the following objectives: Analyze all the relevant studies. Determine the main determinants of interest rate by UK non financial firms. 3.2 Research Method In this part collecting and analysing the data has been defined. We are screening how usage of derivatives of interest rate affects the United Kingdom firms and what are the v arious determinants of interest rate. The core material of this study is from information of 200 non financial firms for past 6 years, the reason behind not including financial firms in our research is because financial firms use derivatives for both risk management and trading purpose. Whereas, in Non-financial firm they use derivative for only risk management and very few firms uses derivatives for trading purpose. Both financial and non financial firm have different motives for using derivatives In this dissertation we have used quantitative method of research, this method has its own advantages and disadvantages. In our research we have analysed around 150 United Kingdoms Non financial-firms. We have collected annual reports of 150 firms for past 6 years. There are many ways to analyse this research it can be either with empirical analysis with hypothesis testing and so on or descriptive statistics. Advantages for quantitative data are that it helps in broader study, allows having greater objectivity and better accuracy of analysed result. Quantitative data usually provide complete summary of data from the annual report and helps in performing various tests. In order to accomplish this, quantitative research usually involves variables. Using data from the annual reports of the companies which can be analysed and compared with some similar or recent studies. It helps in conducting vast data from the annual report and facilitates comparison over the time. 3.3 Data Collection In this dissertation we have used primary data which is being collected for the first time. The process includes collection of original data for the first time. We have used companys annual report and data stream to collect primary data. All the firms included in the sample have a complete set of past 6 years. This procedure results in total of 150 firms. We have collected the panel data for 150 firms and various variables. To collect information on firms usage of interest rate we started screening for keywords in each firms annual report to check what type of derivative does the firm use for hedging like FX derivatives (FX forward, FX swap and FX option), IR derivatives (IR forward, IR caps, IR collar and IR swaps), commodity derivatives (commodity forward, commodity swaps, commodity futures and commodity option). Firms usage for interest rate derivative includes in these four categories: forwards, swaps, collar and caps. For all firms we tried finding out their outstanding notional values for all derivative usage to pay. We are also having secondary data in our data collection which helped us to conduct broad literature review and research. The main benefit in this type of data was that all the empirical analyses and hypotheses tested are studied and summarised and considering this as a base we took a new approach to the research question. This type of data provided different view on problems by various researchers and collect necessary information on o ur research topic. Secondary data is of two types such as external and internal and so on. In this dissertation we collected information from periodical academic journals, articles, internet and statistical databases. 3.4 Data Sample In this research we are using panel data for 150 UK non financial firms with various variables and it contains firms annual data for past 6 years. To collect the data for research we have used firms annual reports and data stream. Unfortunately, DataStream and firms annual report cannot provide notional value of derivatives like interest rate, foreign exchange rate and commodity derivatives. Then information was structured, combined and organised in one excel document which consisted of 150 UK Non financial firms 3.5 Research variables 3.5.1 Firm size To measure the size of the firm I have a variable called logarithm of assets is a proxy for firms size. It is possible to suggest that participation in a swap market requires from financial institution justification of a transaction. It is proved that a large non-financial firm would have a comparative advantage in transaction support. Block and Gallagher (1986), smith and stulz (1984), greczy, minton, and schrand (1997), john R. Graham, and Daniel A.Rogers (2000), argue that larger firm are more likely to employ managers with specialised information to manage a hedging program employing these instruments. They also argued that small firms do limited hedging because of their set up cost. They note that the size of the firm is positively related to the decision to hedge, stating that larger the firm more chances to hedge as compared to smaller firms. Larger firm are less likely to fail (jagtiani, 1996). The object of research is primary data of non financial firms. Larger non-financial firms can perform economics of scale and such firms are more creditworthy good support for transaction and efficient personnel (Kim and koppenhaver, 1993). Thats the only reason for incl uding this variable. Estimating firms size give us a perfect picture of hedgers and non-hedgers. 3.5.2 Firm Capitalization To measure the firm capital we have variables called equity to assets ratio is employed as a proxy for firms capitalization. Firm is able to bear and take more risk if its capitalization grows at the same point of time need for hedging instruments also get decreased (Kim and koppenhaver, 1993)if the firm is not doing good and is not having enough capital or low capital which discouraged the firm from interest rate swaps because it requires high regulations ( Simons, 1995). So therefore its clear from the previous readings that the firm with large capital are more likely to hedge as compared to those firms which have low capital with them. The amount of capital should be sufficient with the firm to bear its cash flow requirement of the firms billing and collection. Firm should always keep on re-examine its capital annually because of payments of account rec eivables, firm debt, increase in client cost and whenever the firm increases its number of lawyers. 3.5.3 Interest Rate Risk Exposure 3.5.4 Cost of financial Distress Firms with greater variability of cash flows are more likely to find themselves in financial distress, ceteris paribus. Smith and Stulz (1985) suggested that the transaction costs of financial distress can induce firms to hedge financial price risks because this can reduce the probability of incurring costs. . According to their theory, hedging may be particularly more valuable for firms with a higher probability of financial distress. In contrast, the benefits of hedging for financially strong borrowers may be more marginal. We have use the leverage ratio as an indicator of the likelihood of financial distress to measure expected costs of distress. High level of debt doesnt mean that firm has higher probability of distress, important is the ability to service the debt and pay it off at maturity. We have use t he total debt to total asset as measure of the leverage ratio for the year 2005 to 2010. It is important to note that the higher probability of financial distress implies higher expected costs. VARIABLES DEFINITION HEDGER 1= HEDGER ; 0=NON-HEDGER LEV TOTAL DEBT/ TOTAL ASSET SIZE Ln (Total Assets) Empirical Analysis The assumptions in all empirical analysis is that the use of derivatives by the firms is for hedging purpose and the risk firm faces in interest rate is from two sources assets and their debt, they hedge by avoiding market fluctuations because no one can predict the market. Investors are also unsure about the market. Thus, there are many variables that explain different derivative usage for the hedging. Firm faces a

Word-of-Mouth Communication - 557 Words

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Corals And Adaptations Essay Example For Students

Corals And Adaptations Essay Coral reefs are among the most diverse and productive communities on Earth. They are found in the warm, clear, shallow waters of tropical oceans worldwide. Reefs have functions ranging from providing food and shelter to fish and invertebrates, to protecting the shore from erosion. Although many corals resemble plants, they are actually members of the animal phylum Cnidaria. Most corals are colonial, which means that each coral is made up of many individual polyps connected by living tissue (the coenosarc). Each polyp has a cup-like shape with a ring of tentacles around a central opening (pharynx) that functions as both mouth and anus. The tentacles are tipped with stinging cells called nematocysts. Corals use the nematocysts to defend themselves and to capture prey. The body wall consists of three cell layers: the outer or ectoderm, the middle or mesoderm, and the inner or endoderm. There is no skeleton inside the polyp itself. Instead, the polyps sit on top of an external skeleton that is made from the polyps secretions. One of the most interesting findings about coral are some of their reproducing habits. Horn coral, for example, depend on waves to break off pieces and carry them to new locations where the broken pieces start new colonies. The more famous coral forms2huge deposits that take on the shape of small, underwater mountains of calcium carbonate. Corals are benthic organisms in the fact that they are stationary for the most part, and do not swim or drift in the ocean. All coral feed on plankton. Soft coral are filter feeders, filtering out plankton as the current passes through the porous structure of the coral. Hard coral have tiny critters located inside a limestone shell that rely on plankton that float by as their food source. Since they are very sensitive, coral require a very specific environment in order to survive. They are found generally in warm, shallow areas of the tropical oceans. Although they are best developed in temperatures from about twenty-three to twenty-five degrees Celsius, coral reefs can be found in temperatures as low as eighteen degrees Celsius. Corals are restricted to seawater with a salinity ranging from thirty to forty parts per thousand. They also require a concentrated amount of calcium carbonate to assist in the process of forming their skeleton. The shape, size and structure of the coral are directly related to their location in the ocean, and depth. Coral located near the surface tend to be flexible in order to flex and sway with the wave action and tidal currents. The water currents and wind can also play an important role in the development of coral reefs. The water currents shape and mold the coral, and the wind both affects the currents and shapes the coral when it rises above the water to form small islands called cays. Because of their sensitivity, almost any adverse changes to the environment can result in death. For example, a reef on Stone Island, near Australia, was killed to a depth of three3meters below mean tide level after a week of hurricane type rains swept through the region. Many different types of animals find shelter in coral reefs: fish, crustaceans, and sponges, not to mention the corals themselves. The many nooks and crevices in the reefs provide a perfect hiding place for almost all types of sea creatures. Sponges, for instance, attach themselves to the coral for protection from predators. On the other hand, a moray eel will take residence in one of the holes in the reef to lie in wait for prey. Some of the other animals that live in coral reefs include giant clams, crabs, Christmas tree worms, feather duster worms, shrimp, and various plants. .u0ffcaf1001f9f3b7efbd29206174af2a , .u0ffcaf1001f9f3b7efbd29206174af2a .postImageUrl , .u0ffcaf1001f9f3b7efbd29206174af2a .centered-text-area { min-height: 80px; position: relative; } .u0ffcaf1001f9f3b7efbd29206174af2a , .u0ffcaf1001f9f3b7efbd29206174af2a:hover , .u0ffcaf1001f9f3b7efbd29206174af2a:visited , .u0ffcaf1001f9f3b7efbd29206174af2a:active { border:0!important; } .u0ffcaf1001f9f3b7efbd29206174af2a .clearfix:after { content: ""; display: table; clear: both; } .u0ffcaf1001f9f3b7efbd29206174af2a { display: block; transition: background-color 250ms; webkit-transition: background-color 250ms; width: 100%; opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #95A5A6; } .u0ffcaf1001f9f3b7efbd29206174af2a:active , .u0ffcaf1001f9f3b7efbd29206174af2a:hover { opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #2C3E50; } .u0ffcaf1001f9f3b7efbd29206174af2a .centered-text-area { width: 100%; position: relative ; } .u0ffcaf1001f9f3b7efbd29206174af2a .ctaText { border-bottom: 0 solid #fff; color: #2980B9; font-size: 16px; font-weight: bold; margin: 0; padding: 0; text-decoration: underline; } .u0ffcaf1001f9f3b7efbd29206174af2a .postTitle { color: #FFFFFF; font-size: 16px; font-weight: 600; margin: 0; padding: 0; width: 100%; } .u0ffcaf1001f9f3b7efbd29206174af2a .ctaButton { background-color: #7F8C8D!important; color: #2980B9; border: none; border-radius: 3px; box-shadow: none; font-size: 14px; font-weight: bold; line-height: 26px; moz-border-radius: 3px; text-align: center; text-decoration: none; text-shadow: none; width: 80px; min-height: 80px; background: url(https://artscolumbia.org/wp-content/plugins/intelly-related-posts/assets/images/simple-arrow.png)no-repeat; position: absolute; right: 0; top: 0; } .u0ffcaf1001f9f3b7efbd29206174af2a:hover .ctaButton { background-color: #34495E!important; } .u0ffcaf1001f9f3b7efbd29206174af2a .centered-text { display: table; height: 80px; padding-left : 18px; top: 0; } .u0ffcaf1001f9f3b7efbd29206174af2a .u0ffcaf1001f9f3b7efbd29206174af2a-content { display: table-cell; margin: 0; padding: 0; padding-right: 108px; position: relative; vertical-align: middle; width: 100%; } .u0ffcaf1001f9f3b7efbd29206174af2a:after { content: ""; display: block; clear: both; } READ: Blood Brothers Coursework The theme of hardship EssayCoral reefs are huge, living, ecosystems that provide food and shelter to many harboring creatures. Not only does this symbiotic relationship orchestrate harmony in the ocean, but corals also provide land animals with a defense mechanism against powerful storms and erosive tides. Although coral reefs make up less than 1% of the Earths surface, their non-existence would be detrimental.

Organization as a Learning Organization

Introduction Majority of the organizations have acknowledge the imperative of organizational learning and the concept of a learning organization has been the fundamental orienting summit in this. Researchers have tried to recognize the superlative forms that authentic organizations could try to imitate. This means that learning organization is an ideal, towards which organizations require to develop so that they can retort to various pressures.Advertising We will write a custom research paper sample on Organization as a Learning Organization specifically for you for only $16.05 $11/page Learn More As a result, the definition of ideal learning organization is indescribable. On the one hand, it is where people persistently expand their ability to construct the outcome that they truly desire, where novel patterns of rational reasoning are natured, where there is freedom of collective aspirations and where people are constantly learning to observe the whole as a group. On the other hand, the learning organization is an apparition of possibility, which does not occur by just training individuals but through learning as a whole at all organization levels. This implies that a learning organization facilitates learning of every person as it transforms itself continuously. Therefore, system thinking, personal mastery, mental model, shared vision and team learning characterize an ideal learning organization and consequently, the manager should strive to achieve these characteristics by determining and alleviating all the barriers against these characteristics through development of focused strategies that will enable the organization to exist in the competitive business environment. Characteristics of ideal learning organization System thinking is a conceptual framework that involves an approach of reasoning about, as well as the language for illustrating and understanding the forces and the relationships that mould behavior of the system (S errat, 2009). For instance, system thinking assists the managers and the employees to know how to change the system effectively and acting in line with the economic world. Personal mastery is the commitment that an individual makes to the learning process (Agarwal, 2007). For example, learning cannot take place in an organization until people start learning via defining what they want to achieve and how. According to a recent research, most workplace learning is incidental and not due to formal training hence, organizations need to develop a culture where personal mastery is a daily activity. Mental models are the assumptions that the individuals and the organizations hold and the assumptions need challenge for an organization to be a learning organization.Advertising Looking for research paper on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More This is because individuals possess theories that they aspire to follow and wo rk theories that they truly adhere to while organizations possess reminiscences that conserve some behaviors (Ramalingham, 2008). Therefore, in constructing a learning organization it is significant to substitute confrontational attitudes with a culture that is open and that which facilitates inquest and conviction. Shared vision encourages employees to learn since they possess universal identity, which bestow them focus and vigor (Agarwal, 2007). As a result, it helps the organization to triumph in a competitive business environment. Therefore, the organization should build its vision from an individual vision. This means that the manager should not create the vision of the organization by himself but through the interaction with the employees. Finally, team learning is the sum of the individual learning. It entails thinking skills, which allow people to build up intelligence, which is greater than an individual talent. Learning organizations possess structures, which enhance team learning, and they include boundary crossing and the openness (Serrat, 2009). For example, employees and employers should develop open communication and shared meaning because it is a fundamental in a modern learning organization. Observable behavior for the characteristics of ideal learning organization In system thinking, people have embraced the notion that system thinking enhances individual learning and as a result, they focus on the system as a whole (Garvin, Edmondson, Gino, 2008). For instance, the employees and the employer believe that they are in a position of making the organization a better place through adherence to the laid down rules and regulations. Therefore, people work towards achieving the organization vision. As a result, the manager provides the employees with the required skills and the tools to facilitate the triumph of the organization.Advertising We will write a custom research paper sample on Organization as a Learning Organization specifically for you for only $16.05 $11/page Learn More On the other hand, people who apply personal mastery think in a different way. This is because they study how to use rationale and instinct to produce something (Serrat, 2010). For example, in case a conflict occurs in the absence of a manager, they will look for a solution rather than waiting for the manager to provide the way forward. This is because these people are system thinkers and they interconnect everything that is around them and they feel connected to the organization as a whole. In addition, they will not let things fall apart when the solution is within their means. Mental model allow people to reflect on what they have done and rectify their mistakes so that the organization achieve its vision and mission (Zarei, 2007). As a result, people are ever researching about the market situation and the organization adaptation. For instance, learning results from looking at the universe the way it should be and f or that reason, managers usually allow employees to attend business meetings so that they gain business knowledge and leave behind assumptions that can lead to downfall of the organization. Finally, shared vision enables the company to have a goal that the employer and the employees have discussed and agreed on it (Garvin, Edmondson, Gino, 2008). As a result, people are enthusiastic and they work collaboratively because they have a universal goal that they freely chose. On the other hand, team learning allows open discussion and communication to flow freely across the whole organization and in every direction. For instance, the employer can freely dialogue with the employee without any segregation. The results of the above behaviors The above behaviors facilitate continuous improvement, the innovation, community building and allow the organization to tackle the challenges that they face (Agarwal, 2007). To begin with, when the employees reflect on what they have done, they will kno w where the problem occurred and rectify and this will facilitate continuous improvement.Advertising Looking for research paper on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More Additionally, when people believe that they can think for themselves, they become creative and innovative. For instance, through system thinking, the employees can develop new ways of doing things that minimizes on the input while maximizing on the output. As a result, the organization reduces the cost of resources while the customers receive better services. Additionally, community building combines the emotional and the intellectual learning. This combination is imperative because it help the organization to fit well in the competitive environment (Larsen, McInerney, Nyquist, Donna, 2007). For instance, free communication allows the manager to solve any problem that may occur in the learning organization without any difficulty. Therefore, this promotes an environment where people are working towards achievement of the organization goals. As a result, the pace at which the organization adapt to change increases. Finally, the behaviors in the learning organization assist the organi zation to meet the following challenges. To begin with, rapid changes occur in the organizations when people are not prepared ( Cors, 2005) but in an ideal learning organization, people adapt to changes and change is viewed as learning opportunity through problem solving. Secondly, the learning organization helps people to shift from compliance role to customer serving (Zarei, 2007). For instance, the organization require to ensure that a tactical alignment exists between the needs of the clients, the goals of the organization, individual learning and the allocation of resources. Thirdly, the behaviors in the learning organization assist employees to formulate the use of substitute strategies, which amalgamates learning in the workplace. These substitute methods are cost effective. Finally, in a learning organization, managers are teachers and employees have power to assume responsibility and accountability for their own learning. Barriers to achieving characteristics of ideal learn ing organization Learning organizations may find it difficult to accept personal mastery due to its intangible nature as well as lack of the quantification of its benefits (Ramalingham, 2008). As a result, people view personal mastery as a threat to the organization thus employees empowerment become counterproductive because they are unaligned. Moreover, deficiency of the culture of learning is a barrier to achieving an ideal learning organization (Cors, 2005). This happens when the organization does not have time to facilitate learning because of its hierarchical structure and when the employees are not interested in the learning process. Additionally, managers with closed minds hinder learning because they are unwilling to participate in the mental models (Larsen, McInerney,Nyquist, Donna, 2007). For instance, leaders who are threatened by change may feel insecure to engage in shared vision. Finally, the size of the organization is a barrier to learning because when employees are more than one hundred, knowledge sharing decreases because of complexity of the organization structures, weaker relationship among the employees, decreased trust and ineffective communication. Determination of progress towards a learning organization There are ways in which a manager can determine whether the organization is progressing towards a learning organization. To begin with, the manager can evaluate the characteristics of the organization to establish if the organization is on the road to becoming a learning organization (Serrat, 2010). For instance, if the following characteristics exists then the organization is on the right path. They include, open communication, teamwork, personal initiative and rational thinking. Furthermore, the manager can also analyze the performance of an organization and he will know if the organization is on the course of a learning organization (Agarwal, 2007). For instance, an organization that fits well in the competitive market is a learning organization. This is because in a learning organization, the employees are innovative and tackle any challenge that comes their way and as a result, they triumph in a competitive business environment. Therefore, the following characteristics are compelling to the organization and me: personal mastery, mental model, shared vision and team learning. How my organization can achieve personal mastery, mental model, shared vision and team learning My organization can achieve the above characteristics through collaborative work. For instance, I will create a shared vision with all the employees. This means that individual vision will be incorporated into the organizational vision so long as it facilitates the achievement of the organization goals. Additionally, the employees will accesses the organization information because this will enable them to know their expectations thus facilitating mental model. For example, an employee who does not understand the importance of time management m ay appreciate time by reading the organization values and beliefs about time. Moreover, through empowering people to act as well as well as acknowledging and supporting their risk taking behaviors, personal mastery prevails. This is because people will be willing to learn because no one is restricting them since they are responsible and accountable in whatever they do. Finally, the organization can achieve team learning via open communication. For example, employees can manage change through expecting the change and generating the change that the organization requires. This will enhance team learning because the employees will need to work collaboratively in order to determine what is best for the organization. Barriers to achieving the above characteristics There are two major barriers to achieving the above characteristics and they include individual and organizational barriers. Individual barriers include conservative people who fear change and since learning is a personal choice , they may decide not to engage in it. Additionally, compulsory training can hinder personal mastery because employees will view it as a control and not personal development. On the other hand, organizational barriers include the organization structure that can interfere with shared vision. For example, lack of free flow of information from bottom to top is a hindrance to shared vision. Moreover, lack of the required tools and ideas to create sense of the prevailing situation act like a barrier to team learning. For example, employees cannot discuss about the organization goals when they do not know the vision and the mission of the organization. Strategies to overcome the barriers The organization can alleviate the above barriers through three strategies that include learning environment that is supportive, creation of learning processes and reinforcement leadership behaviors. A learning environment that is supportive will alleviate closed mindedness because the employees will real ize the importance of change and the learning process. Additionally, this environment will help the employees feel that learning is not a compulsory process but an individual wish. Moreover, creation of the learning processes will help managers realize that organization structures should facilitate free flow of information so that employees interact freely with the manager. This is important because it facilitates the sharing of the vision. Furthermore, the learning process assists the employees to know what the organization expect from them and what they should do to achieve the organization vision and mission. Finally, reinforcement leadership behaviors overcome the barrier to personal mastery and mental model. In this situation the manager, usually recognize employees who do their best to make sure that the organization produce excellent services. For example, if a manager rewards an employee who is always willing to learn, other employees will also strive to learn so that they r eceive the award. Conclusion In conclusion, system thinking, personal mastery, mental model, shared vision and team learning characterize an ideal learning organization. As a result, the manager should alleviate the barriers to achieving these characteristics and they include individual and organizational barriers. The alleviation is possible through development of focused strategies that are learning environment that is supportive, creation of learning processes and reinforcement leadership behaviors. If the organization succeeds in becoming a learning organization, it will triumph in a competitive business environment. References Agarwal, A. (2007). Learning Organisation. HR Folks International , 23 (6), 39-45. Cors, R. (2005). What is a Learning Organisation? Reflections on the Literature and Practitioner Perspectives. Enginearing Professional Development , 32 (7), 11-20. Garvin, D., Edmondson, A., Gino, F. (2008). Is yous a Learning Organisation? Havard Bussiness Review , 143 ( 18), 49-58. Larsen, K., McInerney, C., Nyquist, C., Donna, S. (2007). The Learning Organisations. Havard Business Review , 120 (9), 3-16. Ramalingham, B. (2008). Organisational Learning for Aid, and Learning Aid Organisations. Capacity. Org , 4 (33), 6-20. Serrat, O. (2010). Building Learning Organization. Knowledge Solution , 50 (9), 12-25. Serrat, O. (2009). Dimensions of the Learning Organisation. Knowledge Solution , 42 (3), 1-7. Zarei, H. (2007). Identifying the Barriers of Developing Organiisational Learning in Adminstrative Organisations. Iranian Journal of Management Studies , 1 (1), 17-18. This research paper on Organization as a Learning Organization was written and submitted by user Aaden Combs to help you with your own studies. You are free to use it for research and reference purposes in order to write your own paper; however, you must cite it accordingly. You can donate your paper here.

Different Types of Isolines in Geography

Different Types of Isolines in Geography Topographic maps use a wide variety of symbols to represent human and physical features, including isolines, which are often used on maps to represent points of equal value. The Basics of Isolines and Contour Lines Isolines, also referred to as contour lines, can be used to represent elevation on a map by connecting points of equal elevation, for instance. These imaginary lines provide a good visual representation of  the terrain. As with all isolines, when contour lines lie close together, they represent a steep slope; lines far apart represent a gradual slope. But isolines can also be used to show other variables on a map besides terrain, and in other themes of study. For example, the first map of Paris used isolines to depict population distribution in that city, rather than physical geography. Maps using isolines and their variations have been used by astronomer Edmond Halley (of Halleys comet) and by doctor John Snow to better understand an 1854 cholera epidemic in England. This is a list of some common (as well as obscure) types of isolines used on maps to represent different features of the terrain, such as elevation and atmosphere,  distances, magnetism and other visual representations not easily shown on a two-dimensional depiction. The prefix iso- means equal. Isobar A line representing points of equal atmospheric pressure. Isobath A line representing points of equal depth under water. Isobathytherm A line representing depths of water with equal temperature. Isochasm A line representing points of equal recurrence of auroras. Isocheim A line representing points of equal mean winter temperature. Isochrone A line representing points of equal time-distance from a point, such as the transportation time from a particular point. Isodapane A line representing points of equal transport costs for products from production to markets. Isodose A line representing points of equal intensity of radiation. Isodrosotherm A line representing points of equal dew point. Isogeotherm A line representing points of equal mean temperature. Isogloss A line separating linguistic features. Isogonal A line representing points of equal magnetic declination. Isohaline A line representing points of equal salinity in the ocean. Isohel A line representing points receiving equal amounts of sunshine. Isohume A line representing points of equal humidity. Isohyet A line representing points of equal precipitation. Isoneph A line representing points of equal amounts of cloud cover. Isopectic A line representing points where ice begins to form at the same time each fall or winter. Isophene A line representing points where biological events occur at the same time, such as crops flowering. Isoplat A line representing points of equal acidity, as in acid precipitation. Isopleth A line representing points of equal numerical value, such as population. Isopor A line representing points of equal annual change in magnetic declination. Isostere A line representing points of equal atmospheric density. Isotac A line representing points where ice begins to melt at the same time each spring. Isotach A line representing points of equal wind speed. Isothere A line representing points of equal mean summer temperature. Isotherm A line representing points of equal temperature. Isotim A line representing points of equal transport costs from the source of a raw material.

Meaning and History of Dupont Surname

Meaning and History of Dupont Surname The last name Dupong means dweller by the bridge, from the Old French pont, derived  from the Latin pons, meaning bridge. Dupont is the 5th most common surname in France. Surname Origin: French,  English Alternate Surname Spellings:  PONT, PONTE, DE PONT, PUNT, DUPONTE Famous People with the DUPONT  Surname Pierre Samuel du Pont de Nemours  - founder of the famous American Du Pont familyAimà © Dupont -  Belgian-born American photographerGabriel Dupont  - French composerJacques-Charles Dupont de lEure - French lawyer and statesmanPierre Dupont de lÉtang  - French general of the French Revolutionary and Napoleonic Wars Where is the DUPONT Surname Most Common? According to surname distribution from Forebears, the Dupont surname is most commonly found in France, where one in every 707 people bear the name. It is also common in Belgium, where it ranks 20th, followed by French Polynesia (48th) and Luxembourg (62nd). WorldNames PublicProfiler also identifies Dupont as most common in France, particularly in the regions of Picardie (now  Ã¢â‚¬â€¹Nord-Pas-de-Calais-Picardie), Nord-Pas-De-Calais (now  Ã¢â‚¬â€¹Nord-Pas-de-Calais-Picardie),  and Basse-Normandie (now Normandy). Genealogy Resources for the Surname DUPONT Meanings of Common French SurnamesUncover the meaning of your French  last name with this free guide to the four types of French surnames, and the meanings and origins of common French last names. Dupont  Family Crest - Its Not What You ThinkContrary to what you may hear, there is no such thing as a Dupont  family crest or coat of arms for the Dupont surname.  Coats of arms are granted to individuals, not families, and may rightfully be used only by the uninterrupted male-line descendants of the person to whom the coat of arms was originally granted. DUPONT  Family Genealogy ForumThis free message board is focused on descendants of Dupont  ancestors around the world. DistantCousin.com - DUPONT  Genealogy Family HistoryExplore free databases and genealogy links for the last name Dupont. GeneaNet - Dupont  RecordsGeneaNet includes archival records, family trees, and other resources for individuals with the Dupont  surname, with a concentration on records and families from France and other European countries. The Dupont  Genealogy and Family Tree PageBrowse genealogy records and links to genealogical and historical records for individuals with the Dupont  surname from the website of Genealogy Today. Sources Cottle, Basil.  Penguin Dictionary of Surnames. Baltimore, MD: Penguin Books, 1967. Dorward, David.  Scottish Surnames. Collins Celtic (Pocket edition), 1998. Fucilla, Joseph.  Our Italian Surnames. Genealogical Publishing Company, 2003. Hanks, Patrick, and Flavia Hodges.  A Dictionary of Surnames. Oxford University Press, 1989. Hanks, Patrick.  Dictionary of American Family Names. Oxford University Press, 2003. Reaney, P.H.  A Dictionary of English Surnames. Oxford University Press, 1997. Smith, Elsdon C.  American Surnames. Genealogical Publishing Company, 1997. https://www.thoughtco.com/surname-meanings-and-origins-s2-1422408

Critique and conclusion of context & rationale paper Essay - 1

Critique and conclusion of context & rationale paper - Essay Example It is imperative to keep in mind that effective utilisation of water is the key to reduce droughts and floods at the same time. What comes to the rescue is effective design of methods that cater to the immediate requirement of a particular region. One of the best examples is the use of LifeStraw as a water purification method. â€Å"Lifestraw was created by Danish inventor Torben Vestergaard Feandsen. The product could be a lifesaver† (Fridell 58). It is nothing but a tube that one can use to suck water. The water gets purified when it passes through the levels of filtration. This kind of wonderful design is so portable and convenient to use that people do not actually have to set up any complex infrastructure for the same. Thomas Dickson in his book ‘Dansk Design’ has described the implications of LifeStraw on the formidable task of preventing water borne diseases. He says that this product helps in preventing diseases that include typhoid and cholera which result in the deaths of millions every year. Dickson has also presented an interesting point about the lifespan of the product. â€Å"The lifespan of one straw is about 700 litres of water, so with a consumption of two litres a day, the straw can last about a year† (Dickson 550). drained without even considering a reuse plan. Considering the damaging impact that a country can face due to a shortage of water, it becomes imperative to understand the importance of saving every drop of water that can be saved. And in doing so, it is an interesting fact to notice the diversities in different regions. If some places need to conserve water due to less rainfall, some have to do that to prevent water loss. Over the years, several designs have evolved which are tailor made for the particular environment. ‘Raincatch’ is one such example that serves as an easy water harvesting method. It resembles a raincoat with an enhanced

Clausewitz, Jomini, WWII and Operation Overlord Essay

Clausewitz, Jomini, WWII and Operation Overlord - Essay Example The paper tells that Jomini served in the Russian and French armies in the 19th century during the Napoleonic wars. He contributed largely on the terms used in modern U.S theory and doctrine. Jomini believed that war was a science and with careful study on rules one could discover its conduct. According to Jomini he depicted strategy as art of war upon the map, which comprehended the entire theater of war. â€Å"The main tactic being posting troops in accordance with the accidents of the ground, of placing them into battle, and art of fighting upon the ground, in contradiction to planning upon a map†. Jomini further stated that a defensive war had its advantages when wisely conducted. He depicted passive defense as being pernicious and the active on the other side accomplishing greater success. Jomini’s principle on political war was that the cause of defensive war is to protect the countryside that was being threatened by the enemy, and all operations to be designed to retard his enemy’s progress. This is to be achieved by increasing difficulties and obstacles in the enemy’s way, however taking care not to compromise one’s own army. The idea behind it was that for one to invade, he does so with intention of superiority. The defense on the other hand desires delay till the adversary is weakened by fatigues, marches and sending off detachments to his progress. These ideas by Jomini are important as they are the only ones that were worth considering when it comes to modern war, especially the strategy of exhaustion used to eventually strangle the Confederacy. (Archer 130). Williams in his book Lincoln and his Generals found that most of Jomini’s ideas were seen as misleading and isolated, in many cases would lead to high casualties, uncertain battles, and a war that drug on for so long (Williams 204). Clausewitz ideas on war According to Clausewitz war was a tragic and complex enterprise, always threatening to break away from human control (Archer 126). Bartholomees in his article states that much of what Clausewitz purported was either ordinary or 19th century specific with an exception of three ideas (Bartholomeees 21). First his encouragement of seeking battle. In his book he states that â€Å"†¦ pursuit makes up the second act of the victory and in most cases is more important than the first† (Clausewitz 267). According to his view, he sees war as a nonlinear phenomenon that is naturally unpredictable through analytical means (Bayerchen 86). The second idea that Clausewitz gave was attacking the enemy’s centre of gravity. This was to be achieved by attacking the enemy’s army then followed by seizing his capital and attacking his alliances. The final idea is the â€Å"how to†, which is a concept of the culminating point. Clausewitz defines culminating point as strategic attacks that lead to the point where the remaining potency is just enough to sustain a cover an d wait for peace. Past that point then tables turn and the reaction follows with force that is usually a lot stronger compared to the original attack (Clausewitz 82). Difference between the two theorists There are a lot of differences between the two theorists and their ideas but with only one that can be considered over the others. Their difference mostly came in because: Clausewitz theories mainly dealt with how to win the war unlike Jomini’s which emphasized on teaching the leaders how to fight their battles. Conclusion Jomini’

Interview vs interrogation techniques Essay Example for Free

Interview vs interrogation techniques Essay While this may be an interrogation, the problem in this scenario is that it works under the assumption that Jacob is already guilty of the offense committed. It is the constitutional right of every person to be presumed innocent until proven guilty even if the person is caught in the act of committing a crime. By confronting the suspect or culprit, the police will not be able to elicit the information that is required. The questions that are being propounded by the police investigator do not allow Jacob the chance to answer the real questions which tend to deal with his commission of the offense. Being bombarded with such probing questions, in this case, the stacking questions will only serve to confuse Jacob and cause him to be defensive, thus nullifying any chance that the police will actually be able to get a confession from him. This is also an example of a loaded question which also serves to confuse Jacob. If I were the detective, I would ask open ended questions first to make the suspect feel at ease and allow him to answer the questions then ask closed ended questions that would help narrow down his interrogation to more specific items. This method works best in these situations because it adds a structure and a flow to the questioning and it leads to a desired outcome. Unlike the example in this scenario where there is no clear purpose as to the questioning. The detective should first determine the exact information that he wants to elicit from the suspect. Irrelevant questions such as the reaction of the parents should be avoided by the detective. The issue of motive should be approached differently instead of asking why the suspect committed a stupid act, the detective should instead take a neutral stance first and ask the suspect what exactly happened from his point of view then introduce evidence that may rebut his testimony to attempt to steer the suspect into telling the truth or even confessing.

Infinite Virtue :: William Shakespeare Antony Cleopatra Essays

Infinite Virtue IV.viii of Shakespeare's Antony and Cleopatra is a short scene, less than 40 lines, and an entirely unexpected one. The preceding scenes of Act IV, such as Hercules' departure and Enobarbus' desertion, heavily foreshadow Antony's defeat. When Antony wins his battle against Caesar and returns to Cleopatra in IV.viii, the joy of their reunion contrasts with the despair of Act IV. Antony's victory is a strike against fate and a tribute, albeit short-lived, to the power of Egypt. The association of royalty and divinity was a common tradition not limited to the Elizabethans' world picture. In this scene, Antony portrays Cleopatra as a goddess, revealing her connection not only to the macrocosm but also to the more specific functions of the love goddess Isis. Cleopatra is a "great fairy" (IV.viii.12), able to "bless" (IV.viii.13) soldiers with her speech. As the "day o'th'world" (IV.viii.13) who will "ride" (IV.viii.16) in Antony's heart, she more particularly resembles a sun deity, pictured by the Egyptians as riding in a barge and by the Romans as in a chariot. Cleopatra's association with the day continues up until her death; Charmian recognizes that "the bright day is done/and we are for the dark" (V.ii.192-3) and Cleopatra sees that her "lamp is spent" (IV.xv.89). In Act V, the connection is morbid, but here it is vibrant and positive. Yet in both death and life, the close relationship of Cleopatra and Egypt to fire and the higher elements is omnipresent; Antony swears "by the fire/that quickens Nilus' slime" (I.iii.69-70); Cleopatra before her death is "fire and air" (V.2.288); "your serpent of Egypt is bred...by the operation of your sun" (II.vii.26-7) That fire should so often be linked to life is unsurprising, given the common connection between heat and sex, just as the heart where Cleopatra will ride has long been a "bellows" (I.i.9). Also present is an idea of "vital heat", as when Cleopatra invites Iras to "take the last warmth" (V.ii.290) of her lips before her suicide. Whether fortunate or not, Cleopatra is a spirit of vitality. Even Antony gets a taste of residual divinity, perhaps from Cleopatra's having dressed him; he is "infinite virtue" (IV.viii.17) and "lord of lords" (IV.viii.16), echoing the prophecy that "the Lamb shall overcome [the ten kings], for he is Lord of lords and King of kings" (Revelation 17:14). In fighting for Egypt Antony momentarily wrests conquering fate from Octavius, whose statement that "the time of universal peace is near.

Heart Dissection Report Essay

Introduction/Purpose In this lab experiment, I examined a pig’s heart and compared it to a human’s heart. The pig’s heart is very similar to a human’s heart by having the same structures, veins, valves, and chambers. I was unable to perform hands on examination on a human heart so I examined a pig’s heart. I was able to identify major areas of the heart and dissect it to examine the inside chambers and valves. This experiment helped me have a better understanding of the heart and how it functions. Materials and Methods In order to dissect the heart, I used many different instruments. I used a dissecting tray, biohazard bag, a probe, forceps, scissors, and a scalpel. The procedure follows: 1) Rinse the heart to remove as much of the preservative as possible. 2) Locate and identify different areas of the outside of the heart. Identify the coronary artery, great cardiac vein, aorta, pulmonary trunk, superior vena cava, auricles, visceral pericardium, right and left atrium, and the right and left ventricles. 3) Use the probe to figure out where the vena cava, aorta, and pulmonary arteries enter or exit the heart. 4) Locate and dissect the great cardiac vein. Use the scalpel to slice on both sides of the great cardiac vein and across the top. Use the forceps to pull out the vein to examine it closer. 5) Use the scalpel to perform a frontal dissection on the heart. 6) Identify the right and left atrium, right and left ventricles, the tricuspid valve, the mitral valve, chordae tendineae, and the papillary muscles. 7) Use the scalpel or scissors to make a sagittal dissection of the heart. 8) Examine the tricuspid valve and mitral valve closer. 9) Dispose the heart into the biohazard bags. Rinse and clean the trays. Data and Results I was able to acquire a better understanding of how the heart functions by doing this lab. I was able to identify all of the structures, veins, arteries, valves and chambers. I was able to see how the left ventricle was a lot larger and thicker than the right ventricle. I also got a better understanding of how the blood flows through the heart and through the arteries and veins. Discussion or Analysis The pig’s heart was very similar to the human heart and made it easy to identify all of the structures. I was able to pull out the great cardiac vein and view how small it was. This is the vein that if it is clogged, you have a heart attack. Conclusion In conclusion, this experiment was a great learning tool to better understand the heart. I was able to hold the heart and look at it at many different angles to understand it better. The pig’s heart was similar to the human heart so it was almost like I was looking at the human heart.

Impact of rise of China on international orders in East Asia Essay

China is one of the fastest growing economies in the world. Her growth has been accompanied by more political influence and voice in international scene. Her international influence has started to be felt in the recent years. China great investment in other countries has played a big role in this. China has also been on process of fastening her diplomatic relationships with various countries. She is also a member of major international and regional organization e. . World Bank, World Trade Organization (WTO), Asian Development Bank (ADB), International Monetary Fund, Association of South East Asian Nations (ASEAN) and the Asian Pacific Economic Cooperation(APEC). Additionally, she also has veto power in UN decision making process. Consequently her rise is likely to destabilize international orders in East Asia which compromises of countries such as People Republic of China, Japan, North Korea, Taiwan, Japan, and North Korea. It is likely that influence on this area by the America, Western Countries, Russia and Japan will be destabilized as China entrench its economic and political interests. (Rex Li 2008 p1). China has been having different perception about issues in this area which have been conflicting with those of Western and USA. For instance, the North Korea nuclear weapon programs which has been openly and toughly opposed by USA and Western countries has seen fair opinion from China which has also been opposing sanction against this country. China has also been actively developing ‘strategic partnerships’ with the major power and actors around the world. It is therefore clear that China has been having global aspiration but East Asia has remained to be the main focus. People of Republic of China leaders also consider East Asia as the most important region for her economic development as well as security concerns. She has vital interest in this region. Her leaders have also been paying great attentions on strategies of the major powers in East Asia especially the Russia, America and Japan. Her economic expansion in terms of trade has been increasing tremendously, for instance her exports grew from US$9. 8 billion in 1978 to US $1218 billion in 2007. Her foreign direct investment increased from US$916 million in 1983 to US$74. 8 billion in 2007. China has also focused on enhancing economic cooperation with the East Asian countries. This relation has been integrated into number of subregional economic groupings such as Northeast China-Korea-Japan and Hong Kong-Guangdong-Shenzen triangles. In addition to this, China has also been in forefront to ensure development of other subregions e. . Tumen River project so as to promote her cooperation with Japan, North Korea, South Korea, Mongolia and Russia. The other subregion is Yellow Economic Zone which include Shandong and Liaoning provinces, Japan, South Korea China has also continued to strengthen its multilateral and bilateral relations with other Asian nations. The announcement of establishment of a China-ASEAN free trade Area by 2010 in Association of South East Asian Nations (ASEAN) Plus Three summit in 2002 at Phnom Penh is a good example of these efforts. Additionally, she has also established its military ability through purchase of more weapons especially from Russia. For instance, China has over forty ballistic missiles. (Rex Li 2008 p4). All this relations offers China with a good foundation to destabilize the international order in East Asia. Although it may take a little longer, it is probable that America, Russia and Japan influence in this area will be overtaken by that of China.

Costco and Sams Club Essays

Costco and Sams Club Essays Costco and Sams Club Paper Costco and Sams Club Paper Costco and Sams Club are stores that sell innumerable products, so having effective websites is imperative. Comparing the two websites using these three 1-5 point scales shows that Costcos website is better. The first area of evaluation is the organization and ease of navigation. Each website earns points depending on how intuitive their website layout is, how easy it is to find items, how they categorize items, and how quick navigation is. Next is clarity of item descriptions. They earn more points on the amount of information given and lose points for making the information difficult to read. Finally, the websites earn points for effective product and store promotion. They earn higher scores for more convincing and well-made advertisements, and lower scores for poor advertisements. The first criterion looks at the homepage to see how readable it is. Sams Clubs website has a small bar at the top for account information, order status, wish lists, and insider email; however, the font is small and light grey, and the background is white. Costcos also has the same buttons, but also includes an additional store locations button and an order by item number button. The medium sized font is dark grey rather than light grey and the background is white, so it is very readable. Both websites have bars for item categories near the top of their homepages, but Costcos is in large black font, compared to Sams Clubs small baby blue font. Costco and Sams Club have a hierarchy that allows looking at product categories, but Costcos is more useful. For the same HP Inkjet 8500a found by using Costcos search bar in the top left of their homepage and Sams Clubs in the middle of their home page, Costcos hierarchy is computers printers all-in-ones Color inkjet all-in-one. Sams Clubs is Sams Club Electronics Instant Savings Computers Accessories. Costco scored a 3. 5 and Sams Club a 2. Criterion number two is clarity and completeness of information. The aforementioned search bar can find the Canon Rebel T2i package on both websites by searching for it. Full details are available on the manufacturers website, so it is a good candidate to compare completeness of information. Sams Club has a detailed specification chart for the Cannon Rebel T2i, mentioning that the T2i has a viewfinder coverage of 95%, and that the package comes specifically with an AVC-DC400ST AV cable rather than an AV cable as per Costcos website. The charts also have specific model numbers for the charger (LC-E8E), battery pack (LP-E8), and strap (EW-100DBIII). The product page at Costco has a product description that contains a narrative on the potential uses of the cameras abilities such as shooting in dim environments by using ISO 6400 or using the cameras 9-point AF system for precision focus. Costco has a list of features and basic technical specifications for the camera above and an accessories list below the main description. The information Costco provides is succinct and may be better suited for average consumers, but Sams Club clearly has more detail, however, those may be superfluous to many customers. Costco scores a 3 and Sams Club a 4 for this area. The last category is advertisements. Costco and Sams Club both have good advertisements at the top of their respective homepages that cycle through several different advertisements, all of which are appropriate. Costco has an advertisement for a Costco membership, which is important because they must get customers to buy a membership first so they can buy products. Scrolling down, they both have nearly identical advertisements for specific products. Those advertisements have a small thumbnail picture, a name, and price. Sams Club has a small advertisement bar at the top on product pages and a sidebar with popular items that are similar. Costco also has a sidebar with similar popular items, but also bundles related products together on the same page, such as software and tech support with a computer. Costco beats Sams Club with a 4 compared to a 3. 5 in this category because putting complimentary items together is a strong strategy. After comparing, Costco is more organized because the categories that they sorted their products with are smarter and more helpful than what Sams Clubs website uses. Sams Clubs website uses a font that is too small, and often times their font color is nearly the same as their background color. Sams Club has more detailed product descriptions, but a lot of them are not actually useful to the general consumer. On the other hand, consumers can easily skip over that information. Costco does not provide as much information as Sams Club, but the information they do provide is relevant. Both websites have very similar marketing schemes, but Costco advertises associated products in their product descriptions, which is a good advertising technique. Costco is the winner with a total rating of 10. 5/15, and Sams Club only a 9. 5/15.

Overview of the Tokugawa Shogunate of Japan

Overview of the Tokugawa Shogunate of Japan The Tokugawa Shogunate defined modern Japanese history by centralizing the power of the nations government and uniting its people. Before the Tokugawa took power in 1603, Japan suffered through the lawlessness and chaos of the Sengoku  (Warring States) period, which lasted from 1467 to 1573. Beginning in 1568, Japans Three Reunifiers- Oda Nobunaga, Toyotomi Hideyoshi, and Tokugawa Ieyasu- worked to bring the warring daimyo back under central control. In 1603, Tokugawa Ieyasu completed the task and established the Tokugawa Shogunate, which would rule in the emperors name until 1868. The Early Tokugawa Shogunate Tokugawa Ieyasu defeated the daimyo, who were loyal to the late Toyotomi Hideyoshi and his young son Hideyori, at the Battle of Sekigahara in October 1600. In 1603, the emperor bestowed upon Ieyasu the title of Shogun. Tokugawa Ieyasu established his capital at Edo, a small fishing village on the marshes of the Kanto plain. The village would later become the city known as Tokyo. Ieyasu formally ruled as shogun for only two years. In order to ensure his familys claim on the title and to preserve the continuity of policy, he had his son Hidetada named shogun in 1605, running the government from behind the scenes until his death in 1616. This political and administrative savvy would characterize the first Tokugawa shoguns. The Tokugawa Peace Life in Japan was peaceful under the control of the Tokugawa government. After a century of chaotic warfare, it was a much-needed respite. For the samurai warriors, peace meant that they were forced to work as bureaucrats in the Tokugawa administration. Meanwhile, the Sword Hunt ensured that nobody but the samurai had weapons. The samurai were not the only group in Japan forced to change lifestyles under the Tokugawa family. All sectors of society were confined to their traditional roles much more strictly than in the past. The Tokugawa imposed a four-tier class structure that included strict rules about small details- such as which classes could use luxurious silks for their clothing. Japanese Christians, who had been converted by Portuguese traders and missionaries, were banned from practicing their religion in 1614 by Tokugawa Hidetada. To enforce this law, the shogunate required all citizens to register with their local Buddhist temple, and any who refused to do so were considered disloyal to the bakufu. The Shimabara Rebellion, made up mostly of Christian peasants, flared up in 1637, but was stamped out by the shogunate. Afterward, Japanese Christians were exiled, executed, or driven underground, and Christianity faded from the country. Arrival of the Americans Although they employed some heavy-handed tactics, the Tokugawa shoguns presided over a long period of peace and relative prosperity in Japan. In fact, life was so peaceful and unchanging that it eventually gave rise to the ukiyo- or Floating World- a leisurely lifestyle enjoyed by urban samurai, wealthy merchants, and geishas. The Floating World crashed down to Earth suddenly in 1853, when the American Commodore Matthew Perry and his black ships appeared in Edo Bay. Tokugawa Ieyoshi, the 60-year-old shogun, died soon after Perrys fleet arrived. His son, Tokugawa Iesada, agreed under duress to sign the Convention of Kanagawa the following year. Under the terms of the convention, American ships were given access to three Japanese ports where they could take on provisions, and shipwrecked American sailors were to be treated well. This sudden imposition of foreign power signaled the beginning of the end for the Tokugawa. The Fall of the Tokugawa The sudden influx of foreign people, ideas, and money severely disrupted Japans lifestyle and economy in the 1850s and 1860s. As a result, Emperor Komei came out from behind the jeweled curtain to issue an Order to Expel Barbarians in 1864. However, it was too late for Japan to retreat once more into isolation. Anti-western daimyo, particularly in the southern provinces of Choshu and Satsuma, blamed the Tokugawa shogunate for failing to defend Japan against the foreign barbarians. Ironically, both the Choshu rebels and the Tokugawa troops began programs of rapid modernization, adopting many western military technologies. The southern daimyo was more successful in their modernization than the shogunate was. In 1866, Shogun Tokugawa Iemochi suddenly died, and Tokugawa Yoshinobu reluctantly took power. He would be the fifteenth and last Tokugawa shogun. In 1867, the emperor also died, and his son Mitsuhito became the Meiji Emperor. Faced with a growing threat from the Choshu and Satsuma, Yoshinobu relinquished some of his powers. On November 9, 1867, he resigned from the office of the shogun, which was abolished, and the power of the shogunate was handed over to a new emperor. The Rise of the Meiji Empire The southern daimyo launched the Boshin War to ensure that power would rest with the emperor rather than with a military leader. In 1868, the pro-imperial daimyo announced the Meiji Restoration, under which the young Emperor Meiji would rule in his own name. After 250 years of peace and relative isolation under the Tokugawa shoguns, Japan launched itself into the modern world. Hoping to escape the same fate as once-powerful China, the island nation threw itself into developing its economy and military might. By 1945, Japan had established a new empire across much of Asia.

How is nursing different from medicine Research Paper

How is nursing different from medicine - Research Paper Example Karen et al (2009) observes that medicine and nursing differ mainly in terms of the assistance that they present to an individual. In regard to their origin it is stipulated that they are different based on their inception. This essay is a critical analysis of the differences between nursing and medicine. It is important to the profession of nursing in order to help nurses to understand what their role is, and what is expected of them by the society. It will also assist nurses in understanding the disconnection between them and medical doctors. The developmental theory in nursing draws around the growth and advancement of individuals, which is a systematic and conventional progression that begins as a simple combination of cells that is the beginning of life, and eventually ends through decease. From the developmental theory, the main factor that serves as an indicator of the disparity between nursing and medicine is that nursing tends to concentrate on issues that have an impact on growth and development. Some of these factors are inherent while others originate from the environment in which a person grows. The manner in which an individual associates with the other members of the society determines the rate of growth and development in a person (Pierce et al 2006). In regard to issues that affect normal body functions such as visual impairment, a physician may not offer much assistance especially when the problem is not curable. The nurse tends to come in handy in assisting an individual to learn how to take care of him/herself in spite of living with the problem. People suffering from physical impairment acquire skills that are necessary for survival and also improve on the quality of their life. Care is therefore core in nursing. The more people are able to care for themselves the more they become capable of avoiding harm hence living a better

Philosophy of Ethics Research Paper Example | Topics and Well Written Essays - 1000 words

Philosophy of Ethics - Research Paper Example The case revolves around these issues of integrity and the morality and ethics tied to making accommodations for racism and giving in to the racist biases of clients and their communities when making consulting and business decisions (Chapter 21, n.d., pp. 203-204) The first ethical problem has to do with the ethics of Mr. Wileys insistence that hiring a black consultant for the job at the hotel would not sit well with a backward community as the one that is present in the island. It is backward in the sense that it is unable to tolerate having a Black person doing the work, regardless of the persons qualifications, and regardless of the fact that Mr. Wiley respects Lenore and the consulting team that she has. The ethical problem here can be distilled into a question: Is it ethical to not hire a person because of his color/race, even though he is the most qualified for the work? The second ethical problem emanates from the first one. When Mr. Wiley insisted that hiring a Black consultant will not work, Lenore succumbs and recommends a white consultant instead, even though Dave Maverick, the black person, is the most qualified by her own professional estimation. The ethical problem is is it ethical for Lenore to give in to the demand of Mr. Wil ey and make a recommendation based on skin color rather than on who is best qualified for the work? (Chapter 21, n.d., pp. 203-204) There are two sets of stakeholders here that are relevant for the purposes of the ethical analysis, one set consisting of the hotel employees, guests and the Elura residents surrounding the hotel, as well as the guests; and the other set consisting of the consultants working for Lenore. Taking a step back, the ethical theories to guide the analysis center on Kantian ethics and Kants theory of duty. According to Kant, that which is moral or ethical is that which is dictated by our duties, meaning that an action is deemed right or wrong depending on

Rossie the riveter Movie Review Example | Topics and Well Written Essays - 1000 words

Rossie the riveter - Movie Review Example It is the case that Sheridan Harvey identifies that most people bring to mind the image â€Å"We can do it!† created by J. Howard Miller for the Westinghouse corporation. However it is Norman Rockwell that provided the image that was most examined by the film’s narrator. Rockwell created an image that was in many respects much brawnier and dirty than Miller’s iconic image. The naming of Rosie the Riveter comes from a song written by Red Evans John Jacob Loeb. In which the protagonist is more gifted than a typical male worker. It was postulated that this song influenced Rockwell insofar as he painted the name ‘Rosie’ on the lunchbox of his image. The film then highlights a number of women actually named ‘Rose/Rosie’ who were credited with excellent accomplishments during the war. The miller image became more popular as it is the case that there was less copyright restriction and as such became more widely reproduced. A great description is provided as to how the Rosie character becomes a contrast between male and female roles, as well as postulating that Rockwell gave her a kind of angelic look. Building on this last image, the film then indicates that a government sponsored publication called the women’s war guide, provided advice to companies on how to attract women in the workforce, as well as giving general advice to women on activities they could complete to help the war effort. This in essence was recognition by the U.S. government that women were an integral part of the war effort. The next image that was examined was also completed by Rockwell which depicted a patriotic woman carrying the gear to complete a variety of different tasks that were integral to the war effort. This image depicted a woman who was a nurse, farmer, a conductor, a mechanic and a telephone operator. The film then postulates that

Scottish Independence Essay Example for Free

Scottish Independence Essay â€Å"The beauty of independence, departure, actions that rely on themselves† -Walt Whitman Currently Scotland is part of the United Kingdom. Scottish Independence is â€Å"a political aim for some political parties, advocacy groups, and individuals in Scotland for the country to once again become an independent sovereign state.† A Referendum (â€Å"A general vote by the electorate on a single political question which has been referred to them for a direct decision.†) will be held on Thursday, 18 September, 2014 to decide whether Scotland should become an independent country. I am for Scotland being an independent country primarily because of, but not limited to, the points listed below. Scotland will be more prosperous and economically better off as an independent country. In any society, one of the main questions asked before any sort of political decision, whether it be by the prime minister or just an electorate deciding who to vote for, is if I decide on this option, will I or the country be better off because of it. It is no surprise then that this is one of the main points brought up in the referendum debate. Objectively it seems that Scotland and subsequently the people of Scotland will be financially better off if Scotland were to become independent. A lot of people say this is primarily because of the North Sea oil. Although North Sea oil is important and is in itself another point of discussion/concern for the Scottish government and its people, even without it Scotlands economic output per head is 99 percent of the UK average- and with oil it is 118 percent. This means that over the last 30 years we’ve paid more than our share of tax.. This isn’t a recent or random occurrence either, for decades the amount of tax revenue generated in Scotland per person has been greater than the figure for the UK as a whole. In the most recent year, Scotland contributed  £56.9 Billion in tax revenue. That’s equivalent to  £10,700 for every person in Scotland. In Comparison the average tax revenue in the UK as a whole was just  £9000 pound per person. If you do the math then Scotland has been paying  £1,700 a head extra in taxes. As mentioned previously however, this isn’t a recent thing and has been going on for decades. As a  matter of fact since 1981 Scotland has paid  £222 billion more than we would have done if we had just matched the contribution made per head by the UK as a whole. This all equates to almost  £45,000 extra paid for every person living in Scotland. Scotland makes up 8.4 percent of the United Kingdoms population and generates 9.9 percent of its taxes, but only gets back 9.3 percent back again to spend on essential services. Scotland’s finances were stronger than uks by  £4.4 billion, this means if Scotland got independence we would have  £4.4 billion extra to spend and still be in the same financial position as the UK is now. All this leads up to the fact that if Scotland were to become an independent country we would be 8th in the OECD league table of the world’s advanced economies in terms of GDP per head. By contrast, the UK would only be in 17th place. Scotlands wealth per head was  £27,211. The UK figure was  £23,002 per head. Public Spending in Scotland only accounts for 42.7 percent of Scotland’s gdp compared to 45.5 percent for the uk as a whole. Withdrawing the nuclear weapons from the Clyde will save  £163 each year and if the current government introduce the proposed new nuclear missiles then that means saving  £250 million a year. oil and gas revenue would flow to Scotland and expect to contribute  £48 billion in next six years. An independent Scotland would mean a renewed and fairer democracy. If you refer back to the definition of Scottish independence, then you see that the aim is for Scotland to become an independent sovereign state. a sovereign state is â€Å"a nonphysical juridical entity of the international legal system that is represented by a centralized government that has supreme independent authority over a geographic area† all sovereign states are countries but not all countries are sovereign states. Scotland is classified as a country however it is currently part of the sovereign state known as the United Kingdom. If you apply the definition to this context then the centralized government is Westminster and the geographic area is the whole of the UK. If you think about it like that it doesnt really seem fair that Scotland has to abide by the laws and policies brought in by a different country. Scotland does have mps in westminster but this usually does little the change the verdict due to the following fact: After the 2010 general election 650 mps were elected, 553 from England, 59 from Scotland, 40 from Wales and 18 from  northern Ireland, This means that no matter if every mp from Scotland votes against a policy all it would take is one tenth of the rest of the mps to vote for it and it would be passed. An example would be the recent bedroom tax, 9% of Scottish mps voted for and 91% against it but the tax still went through, another example would be the welfare cuts, 19% Scottish mps voted for and 81% voted against and it but it went ahead and will force, experts believe, 60,000 more Scottish children into poverty. This has also happened with austerity cuts VAT increases and many more policies were Scotland’s mps have voted against it yet it still affects Scotland because more mps from different countries vote for it. This affects Scotland politically but as a result of and possibly even more importantly economically, this is represented well by the previous statistics and also by the fact that the UK government has placed trident missiles at faslane on the Clyde, even though the majority of Scottish citizens are against it, yet were paying  £163 million extra a year to keep weapons we dont want in a place where we dont want it to be kept. However, with regard to the above arguments, not everything about Scottish independence would be easy sailing and clear skies, it couldnt be or the majority of the population wouldnt be voting against independence. The Scotsman polls Yes at 33-34% and No at 52-57%. The Daily Mail puts it at 27% for Yes and 56% for No. Herald Scotland says 27% will vote Yes and 41% will vote No. It seems that the consensus among people is that Scotland will remain part of the UK. Below are some reasons why people may be deciding against independence Scotlands future seems uncertain if we get independence. Alot of things about the referendum and Scotlands future are very cloudy and even after the release of the white paper, which was meant to clear up a lot of these issues so that the people could make their own informed decision, there are still a lot of points which people and even the government are unsure about. An example of this would be the amount of debt which Scotland would take on if it were to get independence. The UK has a debt of 88.7% of their GDP (as of 2012, its expected to have risen to around 90%) and if scotland were to become independent then it is expected that Scotland would take on anywhere  from 0 to  £140 billion of this or even more,its just not clear enough yet how much debt Scotland would take on.Another question is what currency Scotland would employ after they gained Independence. Alex Salmond vows that he will keep the pound however no official agreement has taken place. According to the Scotsman Alex Salmond held â€Å"technical† discussions on the proposal with the former Bank Governor, Mervyn King,last year.Many people, like George Osborne and Alistair Carmichael, think it is unlikely that the two countries will share the pound sterling, with george osborne even going as far to say that he will block scotland from retaining the pound.This is discussed in further detail below.If Scotland were to get independence they would have to leave the EU, according to the spanish prime minister, who is dealing with a similar situation with catalonias proposed independence, he said If a part of the territory of a member state ceases to be a part of that state because that territory becomes a new independent state, treaties will no longer apply to that territory, In other words, a new independent state would, by the fact of its independence, become a third countr y with respect to the Union and the treaties would, from the day of its independence, not apply anymore on its territory. they can re-apply for membership, which is what Alex Salmond would intend to do, however all of the countries would have to accept/agree with Scotland joining the EU. Scotland would have problems with the currency. No matter if Scotland retain the pound or not, they will run into consequences with whatever option they choose. As it stands there are 3 options Scotland has in terms of currency: 1.Keep the pound, this is what Alex Salmond wants,however if Scotland and England were going to agree to a â€Å"Currency Union† (â€Å"where two or more states share the same currency, though without there necessarily having any further integration†) then it would ultimately put Constraints on an independent Scotland’s economic policies: even if it could be agreed, a formal currency union would severely limit an independent Scotland’s economic freedom – to ensure that risks to the rest of the UK were managed an independent Scotland would lose some of its power over decisions on its own â€Å"fiscal policy† (for example, how much it could spend on health, education, and so on) with the Bank of England also determining interest rates and the cost of borrowing in Scotland and would have to accept the rest of the UK having oversight of  its tax and spending plans. This all in a way defeats one of the main points of Scottish Independence, which is for Scotland to have complete economic independence and to have full control over taxes, public expenditure etc. As you can see this would not be the case if an Independent Scotland were to adopt the Pound. Another option would be to join the Euro. This would possibly be the worst decision as all the problems associated with adopting the pound would be present in adopting the Euro, just worse. Many more countries in the eurozone are running into debt and having to accept bailouts, primarily because of fact that one shoe doesnt fit all in terms of the politics of the eurozone, theres not really any way to tell if an Independent Scotland would benefit from the policies and regulations set in by the european union in terms of the euro. The last option would be that Scotland creates its own currency. On the outside it seems to dissolve the problems of another country/set of counties having a large influen ce and in some instances complete control of many of the economic policies and taxings within Scotland. While this is probably the best option, starting a new currency is no easy task. Apart from the decisions to be made on the actual currency like what would be printed on the currency, what materials the coins/notes would be made from in terms of percentages, what the new currency would be called, however these are just minor problems, the real problems would be figuring out how to get the new currency into the system, with rules possibly having to be put in place to prevent large amounts of Pounds Sterling leaving the country. Laws would have to be formed to grant the new currency status of legal tender, as well as laws which define and control the use of the currency. All of these laws would also have to be approved by parliament.To change the currency would take about 6 months minimum, but in reality it would probably take alot longer. The actual printing of the money could possibly run into tens of millions of pounds, but the actual process of the currency swap would be the most costly. All of this would have to be highly scrutinized,as if there was any uncertainty over the details of the currency it could potentially drive away countries or businesses looking to invest in scotland or its new currency. To sum up, even though a lot of the details about scottish independence are still cloudy and a lot of people are scared about what might happen if we  gain independence and if such a small country could support itself, the bottom line seems to be with complete political and possibly economic independence, we would get to make decisions based on our own needs, and not the whole UK’s. Even though we do still rely quite heavily on Oil, its still a while to go before it runs out, and in that time hopefully the money generated by it will be invested into different economic sectors to fuel Scotlands powerful economy. With Reference to the quote by Walt Whitman, we must take action and rely upon ourselves to make the right decision in relation to this countrys economic and political well being, even if it might seem scary, no-one ever got anywhere by running away from a situation and sitting on their hands just because the idea scared them. Alex Salmond described the referendum as a â€Å"once in a lifetime opportunity† and it would be such a shame to see this opportunity wasted due to the sheer pride and prejudice of people.